JCR Acquires Two Shopping Centers in Maryland for $23.8 Million

by Alex Tostado

Rockville and Bel Air, Md. — The JCR Cos. has acquired two shopping centers in Maryland totaling $23.8 million. The first property is Woodley Gardens Shopping Center in Rockville. The asset is situated at 1101-1125 Nelson St., 17 miles north of downtown Washington, D.C. Washington, D.C.-based JCR acquired the 22,797-square-foot property for $4.5 million. It was fully leased at the time of the sale to tenants including Hard Times Café, Essex Bank, Slice of Rockville, Carmen’s Ice Cream and Shanghai Taste.

The second property is Bel Air Town Center, which is located 30 miles northeast of downtown Baltimore. JCR purchased Bel Air Town Center for $19.3 million. JCR plans to sell pad sites at the 95,229-square-foot property. The seller(s) was not disclosed.

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