Thursday, April 21, 2022

Stan Johnson Co. Brokers $25 Million Sale of Northcrest Village Shopping Center in Carrollton, TX

 Margaret Caldwell

 CARROLLTON, TX -- Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of Northcrest Village located at 3044 Old Denton Road in Carrollton, Texas.

The 136,061-square-foot shopping center is anchored by ALDI and Ace Hardware and was approximately 85 percent leased at the time of sale.

Patrick Kelley
 

 Margaret Caldwell, Patrick Kelley and Gill Warner of Stan Johnson Company represented the seller, an Oklahoma-based developer. The 1031 exchange buyer was an individual investor based in Texas. The property traded for $25.0 million.

 “Northcrest was highly sought after by investors because of its location, strong credit anchors and its potential upside,” said Caldwell, Managing Director and Partner in Stan Johnson Company’s Atlanta, Georgia office.

Gill Warner
 

Located in the northern Dallas suburbs, the shopping center features 31 tenants across three buildings. The attractive tenant mix reflects grocery, restaurant, hard goods, soft goods and service providers including national retailers like Subway, O’Reilly Auto Parts, The UPS Store, Little Caesars and State Farm.

  At the time of sale, there were four contiguous in-line suites available for lease along with one junior anchor space adjacent to Ace Hardware.

Northcrest Village, 3044 Old Denton Road,
Carrollton, TX

 “The bidding process was highly competitive with double-digit offers showing the continued demand for grocery-anchored multi-tenant retail properties,” added Kelley, Associate Director.

  “In addition to its credit anchors and upside, Northcrest Village boasts a coveted market in Dallas-Fort Worth.”

 Contact:

 David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

 www.stanjohnsonco.com.

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