Monday, May 08, 2017

Family-owned real estate venture buys the Lakewood Shopping Center in East Dallas

Dallas-based Stockdale Investment Group, a family-owned and operated real estate venture, has acquired the Lakewood Shopping Center near the Lakewood Country Club from Dallas-based Lincoln Property Co. for an undisclosed sum.

The shopping center at has ties back to the 1930s, when Dallas developer Leo Corrigan acquired the land from the Lakewood Country Club to develop the retail destination.
For more than 75 years, Lakewood Shopping Center at 1904 and 1824 Abrams Parkway near the Lakewood Country Club has proven to be a go-to shopping center and is one Stockdale Investment has long admired — with a bent on buying sought-after properties in high-barriers-to-entry submarkets, it was a good fit for the firm.

In the past few years, Stockdale has acquired the Shops of Highland Park from the Corrigan family in 2013, as well as a Design District showroom and a Northpark-adjacent retail property.

"This acquisition is a continuation of Stockdale's strategy of focusing on irreplaceable core real estate assets in desirable neighborhoods," said Ken Pratt, Stockade's investment group president and CEO.

The shopping center draws customers from affluent and established neighborhoods in Lakewood, the M Streets, Forest Hills and the Swiss Avenue Historical District, among other neighborhoods.

Stockdale COO and Partner Joe Pastora said the investment team admired the center's established history and location in Lakewood.

“We’re attracted to the area’s incredible growth and longevity, and look forward to being part of the neighborhood for many years to come,” he added.

Candace Carlisle/Dallas Business Journal.