DC firm buys Riverton Commons
FRONT ROYAL – A Washington, D.C. company recently bought Riverton Commons for about $17.72 million.
JCR Companies acquired the 69,496-square-foot shopping center north of Front Royal from EDENS. JCR plans to lease the vacant space and either develop or sell the property’s five remaining pad sites, according to JCR founder and managing partner Joseph Reger.
Representatives of the Front Royal-Warren County Economic Development Authority met with the new owners a few months ago, Executive Director Jennifer McDonald stated in an email Wednesday.
“They have nice plans of revamping the image and maintaining the appeal of the shopping center,” McDonald states in the email. “We welcome them as a property owner to the community.”
Riverton Commons sits on approximately 13 acres northeast of the Interstate 66-U.S. 340-522 interchange and serves as part of a 500,000-square-foot, regional shopping center anchored by a Lowe’s Home Improvement Center and a Walmart Supercenter.
Riverton Commons, constructed in 2007, includes a Valley Health Systems Urgent Care, Mattress Warehouse, Great Clips, Sweet Frog, Anytime Fitness, Hibbett Sports and Tropical Smoothie Café.
JCR owns properties in Dupont Circle, Logan Circle, Capitol Hill, Old Town Alexandria, Georgetown and several Washington, D.C. suburbs. Riverton Commons marks JCR’s eighth shopping center acquisition since 2012.
Target anchors the Crooked Run Plaza shopping center across U.S. 340-522 from Riverton Commons.