LORTON, VA—The JCR Cos. has acquired51,800 square feet of retail atLorton Station Town Center for $13.8million, as well as the building at 1522 14th St.,NW which houses locally owned specialty shop Cork &Fork, for a total of $16 million.

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The Lorton Station Town Center retail space, which occupies theground-floor area directly above the Virginia Railway Expresscommuter train station, was sold by Regency Centers. It is 100percent leased to 19 local, regional, and national tenantsincluding Wells Fargo, Fireside Grill, Subway, Pan e Vino andFedEx. It is part of a mixed-use project with more than170,000-square feet of office and commercial space and nearly 1,200single-family homes, townhomes, condominiums, and apartments.

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Joe Reger, managing partner of JCR, says thecompany plans to reposition about 7,000 square feet of retail spacethat is leased but currently vacant, and hold the property for thelong term. Cantor Commercial Real Estate provided financing forthis transaction.

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JCR also plans to lease up its other recent acquisition here at1522 14th St., as there is 910 square feet now available.

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“This is our ninth acquisition on 14th Street, which hasincredible velocity and is only in its infancy," Reger notes.

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"We continue to seek retail properties both large and small inthe District or within one hour's drive, and hope to acquire moreretail assets in the second half of 2014."

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