Stan Johnson Company Announces Sale of Northcrest Village Near Dallas, Texas

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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. 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.

“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. 

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.

“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.”  

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About Stan Johnson Company:

Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses on investment sales transactions involving retail, office, industrial, healthcare, and specialty properties. The firm and its affiliates provide acquisition, disposition, sale leaseback, capital markets, and advisory services for institutions, developers, investment funds, corporate occupiers, and private investors across the United States. With a historic focus in the single-tenant net lease sector, Stan Johnson Company is now in its fourth decade of operation and has expanded its service platform in order to better serve its valued clients. The firm has completed more than $45 billion in transactions nationwide and continues to be regarded as the Net Lease Authority® as it focuses on continued growth and expansion into other industry sectors and services.