Hillcrest Tower, a 10-story office high-rise in North Dallas, has been brought to market with Newmark Group handling the listing. The 168,000-square-foot building is located at 12720 Hillcrest along Interstate 635 and is described as a primarily medical, real estate and professional services tenancy hub. The tower, originally built in 1982, is currently 97% leased, indicating a largely stabilized occupancy profile at the time of marketing.
According to reporting cited from the Dallas Business Journal, Hillcrest Tower has recorded more than 95,000 square feet of new and renewed leases since 2024. This level of leasing activity over a relatively short period highlights recent tenant commitments and extensions within the building. While specific tenant names and lease terms are not disclosed, the tenant roster is noted as being concentrated among medical users, real estate firms and other professional services companies.
The Dallas County Appraisal District assigns a combined value of $17.8 million to the land and improvements for Hillcrest Tower. No formal asking price has been released with the marketing, and the listing information does not include pricing guidance or cap rate metrics. The property is being offered as an office investment opportunity, but there is no indication in the available information regarding targeted buyers, marketing timeline or potential transaction structure.
Hillcrest Tower is owned by Albany Road Real Estate, which has held the asset since 2017. In addition to Hillcrest Tower, Albany Road Real Estate also owns Mockingbird Towers, a 448,000-square-foot office property at 1341 W. Mockingbird Lane in Dallas that the firm acquired in 2020. The article does not specify any change in ownership for Mockingbird Towers, nor does it indicate whether that asset is also being marketed.
The property benefits from a location near several North Dallas landmarks and activity nodes. It is situated relatively close to Medical City Dallas, NorthPark Center, Preston Center and Galleria Dallas, and lies just north of the former Valley View Mall site. That former mall site has been discussed as a potential future home for a new Dallas Mavericks arena and entertainment district, positioning Hillcrest Tower near an area that could see additional large-scale redevelopment activity. No further details on timing or approvals for that potential arena project are included in the available information.
Overall, the listing of Hillcrest Tower brings a well-leased, mid-rise office asset in North Dallas to the investment sales market, with established ownership, high current occupancy and a location adjacent to both major medical and retail destinations, as well as a nearby redevelopment site with potential future sports and entertainment uses.
