Northmarq Announces Sale of Northcrest Village Near Dallas, Texas


Northmarq, 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 Northmarq 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 Northmarq’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 Northmarq:

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: