Texas + Dallas-Fort Worth + Retail | April 22, 2022

Stan Johnson Negotiates $25 Million Sale of Dallas Retail Center

Stan Johnson Company, an Oklahoma-based commercial real estate investment and brokerage firm, has completed the $25 million sale of Northcrest Village, a 136,061-square-foot shopping center located at 3044 Old Denton Road in the Dallas suburb of Carrollton, TX.

The retail 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. 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.

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About Erik Hamilton

Erik Hamilton, who has more than 15 years in CRE journalism, is a former staff writer with the Los Angeles Times and the Orange County Business Journal. In addition to The Times and the OCBJ, he was also a reporter and editor for Crittenden Research, The San Bernardino Sun and UPI. Erik also worked six years in CRE public relations with Los Angeles-based Hoyt Organization, where he was a Senior Account Executive. He later joined Lee & Associates where he served as the Director of Corporate Communications. There ,in addition to his work with Lee’s CEO, he managed 57 offices nationwide and provided PR, social media and media training for the offices. A graduate of UC Irvine, with a BA in history, he is an avid record collector where he continues to search for a rare Joy Division single.

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