 |
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.
