Krispy Korner shopping center sold for $6.7 million

Krispy Korner is located at 6328 Richmond Highway.

The Krispy Korner shopping center in the Penn Daw area was sold last month for $6.7 million.

JCR Companies, a Washington D.C.-based real estate investment firm, purchased the property from Krispy Korner LLC on April 3, according to Fairfax County property records. Krispy Korner LLC had owned the center since 2004, when it was purchased from Krispy Kreme Doughnuts for $932,000.

The sale was first reported by VirginiaBusiness.com.

In a press release about the purchase, JCR touted the strength of the location, including the thriving retail presence in the Richmond Highway corridor and the recent surge in residential development in the Huntington and Penn Daw areas.

“Over 1,000 residential units are planned or under construction within two miles, all within close proximity to the Huntington Metrorail station,” JCR said in a statement that also noted that Krispy Korner is the firm’s 10th shopping center acquisition since 2012.

A person with knowledge of the sale said JCR is looking to get the shopping center fully leased, and that there are no plans at this time to redevelop the location.

The 16,680 square-foot shopping center is located at 6328 Richmond Highway, next door to Krispy Kreme. The shopping center building, originally constructed in 1961, previously housed a Krispy Kreme bakery. The building was completely renovated and reopened as a retail center in 2004.

Despite the name, Krispy Korner has no affiliation with the Krispy Kreme next door. The shopping center features Wingstop, a Clean Smart dry cleaners, a Sprint store, One Main Financial and Premium Family Dental. There are also two vacant spaces for lease.