Tuesday, January 27, 2015

Stockdale Investment Group buys NorthPark-adjacent shopping center

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The 20,384-square-foot property at 7835 and 7839 Park Lane near NorthPark Center at Park Lane and North Central Expressway includes tenants such as Citibank, Panera Bread, J's Tailor, Sona Med Spa and Buca Di Beppo.


Stockdale Investiment Group, a Dallas-based, family-owned-and-operated real estate investment firm, has bought a NorthPark-adjacent shopping center on Park Lane. It is the company's latest acquisition in a series of investments in retail property.

Terms of the acquisition from seller, Park Lane Partners & Skillman Oram Partners LP, was undisclosed.

The 2.6-acre, 20,384-square-foot property at 7835 and 7839 Park Lane near NorthPark Center at Park Lane and North Central Expressway includes tenants such as Citibank, Panera Bread, J's Tailor, Sona Med Spa and Buca Di Beppo.

"The property benefits from its close proximity to NorthPark, one of the most productive retail centers in the country," said Joe Pastora, a partner at Stockdale Investment Group. "We are looking forward to the continued success of our tenants."
Last year, the 31-year-old group bought The Shops of Highland Park, an iconic retail property that has been in operation for more than 70 years. In the past few years, Stockdale has spent $75 million acquiring properties off Knox-Henderson, Preston Center and Uptown.

Stockdale currently doesn't have any renovation plans for the Park Lane retail center, which is 100 percent occupied. The property fit well into Stockdale's strategy of purchasing and operating high-end urban retail centers in North Texas, Pastora said.

"We plan to continue investing in core real estate assets in highly-desired Dallas neighborhoods," he said.
Staff Writer-Dallas Business Journal