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Dallas Morning News: Hillcrest Tower Sells – Sunwest Awarded Property Management

New York-based commercial real estate investment firm Ascent Real Estate Advisors bought the 10-story Hillcrest Tower in northern Dallas. 

Ascent bought the office building at 12720 Hillcrest Road earlier this month. The seller was Boston-based Albany Road Real Estate Partners. 

Ascent did not disclose the sale price, but county records show an Ascent-affiliated LLC obtained a loan of more than $17.1 million to fund the transaction. The Dallas Central Appraisal District valued the property at $16.3 million for tax purposes.

Hillcrest Tower has more than 168,000 square feet and is 97% leased, with a roster of roughly 50 tenants. The property was built in the early 1980s.

Ascent principal John Porges said his firm will make improvements to the property, including a lobby refresh.

The deal adds to Ascent’s northern Dallas holdings. Pillar Commercial and Ascent Real Estate Advisors acquired Rambler Park at 7557 Rambler Road in Dallas earlier this year.

Porges said his firm likes the area around the Hillcrest office. It’s close to the planned H-E-B grocery store and near the Dallas Mavericks’ planned arena site at the former Valley View mall.

Dallas-based Sunwest Real Estate Group will lead property management service, and CBRE will handle leasing.

“We really like that location. We think that there’s opportunity to increase rents as the market has
continued to improve,” Porges said.


Source: The Dallas Morning News, Oct. 29, 2026 — Nick Wooten and Neal Franklin, Staff Writers

READ THE FULL ARTICLE HERE

In the News: Sunwest Named Property Manager for Hillcrest Tower

New York-based commercial real estate investment firm Ascent Real Estate Advisors has acquired the 10-story Hillcrest Tower in north Dallas.

Ascent purchased the property at 12720 Hillcrest Road from Boston-based Albany Road Real Estate Partners, with the deal officially closing Oct. 21, the firm announced. The tower, spanning over 168,000 square feet, is 97% leased and has a roster of nearly 50 tenants.

No purchase price was disclosed and the transaction has not yet been recorded in county property records. The Dallas County Appraisal District values the land and the building at $17.8 million for tax purposes, but DCAD appraisals typically trail market values.

Ascent also announced it has selected Dallas-based Sunwest Real Estate Group to lead property management services and Dallas-based CBRE to handle leasing.

The sale comes a few months after Newmark Group listed the property for sale in June. Albany Road also owns the 448,000-square-foot Mockingbird Towers at 1341 W. Mockingbird Lane in Dallas, which it bought in 2020.

Hillcrest Tower, on the northeast corner of Hillcrest Road and Lyndon B. Johnson Freeway, lies in the LBJ Freeway submarket, which has a total of 18.3 million square feet of office inventory and a relatively high total vacancy rate of 27.5%, according to third-quarter data from commercial real estate form JLL.

Ascent, a commercial real estate investment, development and consulting firm, has been an active investor in Dallas-Fort Worth for more than a decade. In March, Ascent in partnership with Dallas-based Pillar Commercial reacquired Rambler Park, a 310,943-square-foot, 14-story medical office tower. Ascent also previously owned DFW office buildings such as the roughly 94,000-square foot 5001 Statesman in Irving, the 192,000-square-foot Meadow Central office park in Dallas, and the more than 260,000-square-foot Midway Atriums office complex in Addison.

John Porges, principal of Ascent, said in a statement that Hillcrest is a property with a diverse tenant base in “one of the most sought-after areas of the city.” Porges told the Dallas Business Journal that the location of the tower’s location just inside LBJ Freeway and North Central Expressway is convenient for east-west commuters.

Roughly 20% of the building is made up of medical tenants and a large chunk of the building’s tenants signed leases after COVID to renew or expand their office space, Porges said. In a statement, Ascent said the building has posted strong leasing activity in recent years, with nearly 150,000 square feet of new and renewal leases since 2020.

Hillcrest Tower was built in 1982 and renovated in 2022. Ascent plans to build upon prior upgrades by refreshing the common areas, enhancing the exterior landscaping and continuing to invest in move-in-ready speculative suites.

Renovations are planned for the main lobby as well as the lobby to each individual floor, Porges said. He declined to disclose the estimated cost of the renovations, but Porges said work will begin in the second quarter of 2026.

Marc Grossfeld, managing principal of Sunwest Real Estate Group, whose firm will serve as property manager, said any upgrades from Ascent will help keep the property relevant amidst a competitive North Dallas market, citing the nearby Preston Center office submarket as a chief rival for new tenants.

Hillcrest Tower is located near NorthPark Center, Preston Center, Galleria Dallas and is just north of the former Valley View Center site that could be home of the Dallas Mavericks’ new arena and entertainment district. The Mavs recently began the process to rezone 112 acres of the former mall site, looking to amend an existing planned development and create a new subdistrict for the new sports and entertainment district.

Ascent reviewed development coming around the site of Hillcrest Tower, including a nearby H-E-B and the potential Mavs arena, Porges said. He said Ascent welcomes any development in the area and is not worried about traffic or other impacts of a potential NBA arena nearby, calling it “positive to the area.”

By: Mike Albanese, Staff Writer Dallas Business Journal

October 22, 2026

VIEW THE FULL ARTICLE HERE

Sunwest Real Estate Group Deepens Lower Tollway Leasing Expertise

Sunwest Real Estate Group, a Dallas-based commercial real estate investment, management and leasing firm, today announced it has been awarded the leasing assignment for Corporate Centre, a 194,640-square-foot, Class A office building at 14911 Quorum Drive in Addison, Texas.

“The Lower Tollway corridor continues to attract companies pursuing what we have coined as a ‘flight to relevance’ – tenants seeking office buildings offering a central location with easy access to the rest of the Metroplex as the city continues its rapid expansion,” said Marc Grossfeld, Founder and Managing Principal of Sunwest Real Estate Group. “With quality space available, including full-floor opportunities, and a location that puts tenants steps from restaurants, retail and hotels, we’re excited to bring new companies to this building.”

Built in 1997, the six-story Corporate Centre offers 32,440-square-foot floor plates and 10-foot, 6-inch ceiling heights. The property features on-site 24-hour security, on-site property management, building signage opportunities and a structured parking garage for all tenants and their employees, providing a parking ratio of four spaces per 1,000 square feet.

Located on Quorum Drive just off the Dallas North Tollway, Corporate Centre sits within walking distance of Addison’s Belt Line Road “Restaurant Row” and numerous full-service hotels, in a town that is home to more than 200 restaurants, 22 hotels and 12 million square feet of office space. The central location offers convenient access to the Galleria area, Las Colinas, Legacy, Addison Airport, Dallas Love Field and DFW International Airport.

The addition of Corporate Centre also strengthens Sunwest’s Addison expertise. Earlier this year, Sunwest partnered with the Town of Addison’s Economic Development Department to secure Addison’s first-ever Office Amenity Grant, supporting a $2 million capital revitalization of The Landmark, a 160,000-square-foot, eight-story office building at 14800 Landmark Blvd. The renovation includes a fully redesigned lobby, a new amenity floor with a tenant lounge and conference center, and move-in-ready tenant suites.

 

About Sunwest Real Estate Group

Sunwest Real Estate Group is a Dallas-based real estate investment and operating firm founded in 2005 with a focus on creating long-term value through the acquisition, management, and repositioning of high-quality properties. Sunwest has a track record of delivering superior returns to investors while fostering tenant relationships and community impact.

 

Sunwest Real Estate Group Awarded Two New Office Leasing Assignments

Sunwest Real Estate Group, a Dallas-based commercial real estate company, today announced it has been awarded the leasing assignments for Democracy Place, a 37,500-square-foot office building at 5300 Democracy Drive, and Preston Pointe Centre, a 75,000-square-foot office building at 1400 Preston Road, both in Plano, Texas. The buildings, owned by affiliates of Intercity Investments, add a combined 112,500 square feet to Sunwest’s growing leasing portfolio in West Plano. Kellie Krautter, Tabitha Layne and Marc Grossfeld will handle the new assignments.

“West Plano continues to be one of the strongest office submarkets in North Texas, and these two properties offer tenants a well-located, amenity-rich option for growing companies,” said Marc Grossfeld, Founder and Managing Principal of Sunwest Real Estate Group. “Our team knows this corridor well, and we’re excited to bring that experience to Democracy Place and Preston Pointe Centre in driving leasing momentum for both buildings.”

Democracy Place sits in the heart of West Plano’s Legacy corridor, minutes from Legacy West and The Shops at Legacy and with direct connectivity to the Dallas North Tollway and Sam Rayburn Tollway. The 1997-built property features a tenant lounge, a covered outdoor balcony and covered parking, and places tenants near more than 80 restaurants and bars, 50 shops and three Fortune 500 headquarters.

Preston Pointe Centre is located at the highly visible intersection of Preston Road and Plano Parkway, with convenient access to the President George Bush Turnpike and the Dallas North Tollway. The property features a light-filled atrium lobby, a tenant lounge and coffee bar, and covered parking, with available suites ranging from smaller office footprints to full-floor opportunities. Tenants are within walking distance of dining, fitness and shopping, including Preston Park Village.

 

About Sunwest Real Estate Group

Sunwest Real Estate Group is a Dallas-based real estate investment and operating firm, founded in 2005 with a focus on creating long-term value through the acquisition, management, and repositioning of high-quality properties. Sunwest has a track record of delivering superior returns to investors while fostering tenant relationships and community impact.

 

Sunwest Announces 400,000 SF Industrial Property Management Assignment

Gateway 67 Logistics Center marks latest acquisition by Libitzky Property Companies

Sunwest Real Estate Group has been awarded property management of Gateway 67 Logistics Center, a 386,194-square-foot industrial business park located at 4311 and 4521 N. Highway 67 in Midlothian, Texas. The assignment follows the recent acquisition of the property by Libitzky Property Companies, a California-based commercial real estate firm for which Sunwest has served as its trusted local partner over the past 20 years.

Read more “Sunwest Announces 400,000 SF Industrial Property Management Assignment”

Sunwest and AKRE Partners Further Expand Laredo Portfolio with Acquisition of 814 Union Pacific Blvd

AKRE Partners, LLC and Sunwest Real Estate Group today announced the acquisition of 814 Union Pacific Boulevard, a vacant 51,252-square-foot small-bay, concrete tilt warehouse located within Milo Distribution Center, one of Laredo’s most desirable infill industrial submarkets. The property was acquired off-market.

Read more “Sunwest and AKRE Partners Further Expand Laredo Portfolio with Acquisition of 814 Union Pacific Blvd”

Sunwest Expands Leasing Presence along Lower Tollway in Addison

Sunwest Real Estate Group today announced the company has been awarded leasing assignments for two buildings along the Lower Tollway corridor–4450 Sojourn and Addison Airport Office Center. 4450 Sojourn is a single-story, campus-style office/flex property located just off the Dallas North Tollway, adjacent to Methodist Hospital and Trinity Christian Academy, minutes from Addison Airport. Addison Airport Office Center is a three-story office building located on the grounds of the Addison Airport, with on-site hangar plane parking spaces.

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Sunwest and AKRE Partners Expands its Presence in Laredo Through the Acquisition of 813 Nafta Boulevard

AKRE Partners, LLC and Sunwest Real Estate Group today announced the acquisition of 813 Nafta Boulevard, a vacant 49,840-square-foot small-bay industrial warehouse located within Milo Distribution Center, one of Laredo’s premier logistics submarkets. The property was acquired off-market.

Read more “Sunwest and AKRE Partners Expands its Presence in Laredo Through the Acquisition of 813 Nafta Boulevard”