JCR Companies acquires MD shopping center for $22 million
ACCOKEEK, MD — The JCR Companies has acquired Manokeek Village Shopping Center in Accokeek for $22 million. The seller was Klaff Realty.
This 90,172 s/f grocery-anchored shopping center is located at the heavily traveled intersection of Manny and Berry Roads in Prince George’s County, with a traffic count of 90,000 vehicles per day.
The property includes additional land approved for development.
Cantor Commercial Real Estate provided financing for the inline retail space, while Eagle Bank financed the pad sites. With this flexible arrangement, JCR plans to sell the pad sites and maintain long-term ownership of the inline space.
“We are thrilled to add Manokeek Village Shopping Center to our portfolio,” said Joe Reger, principal, The JCR Companies. “We like the fundamentals of Southern Maryland, with substantial new housing starts and no new retail development planned for the foreseeable future.”