CIM Group Acquires Turtle Creek Village Mixed-Use Property

DALLAS--()--CIM Group announced today that it has acquired Turtle Creek Village, a mixed-use property encompassing an 18-story, Class A office building, and a grocery-anchored retail center in the Turtle Creek neighborhood of Dallas. The property was acquired from a joint venture of Lincoln Property Companies. Built in 1973, the property underwent a comprehensive renovation in 2014. The 227,000 square foot office building is leased to a diverse tenant base attracted to its central location, efficient design, sweeping area views, and abundant nearby amenities. Turtle Creek Village’s 95,000 square feet of retail offers a mix of daily needs shops and services, fashion retailers and restaurants, including Tom Thumb, a top-tier grocer, World Market, Zoe’s Kitchen, Athleta, Paul Martin’s American Grill, and LensCrafters®.

Turtle Creek Village, bounded by Irving Avenue, Oak Lawn Avenue and Blackburn Street, is in the heart of Turtle Creek, a small neighborhood within the greater Uptown market. It has convenient access to transportation, ample parking, lifestyle amenities, and public recreation. Turtle Creek Village is adjacent to the premier Dallas communities of Highland Park, University Park, and the Uptown District and is easily accessed from major area thoroughfares the North Dallas Tollway and Central Expressway.

CIM qualified the Uptown market as a community that possesses the attributes that fit its investment strategy. CIM’s current investments in Uptown include numerous properties along the Henderson Retail corridor, Knox Park Village, Lennox at West Village, and a debt investment on The Union Dallas. CIM was formerly invested in several Uptown apartments including the Knoxbridge, 3636 McKinney, and West Village Uptown.

About CIM Group

Established in 1994, CIM is a leading partner for global institutional investors seeking to invest in real assets located in and serving urban communities with a principal focus on North America. CIM is a real assets manager offering investment strategies in opportunistic, stabilized, and value-add real estate, real estate debt, and infrastructure. CIM’s broad expertise includes in-house research, acquisition, investment, development, finance, leasing and property management capabilities. Headquartered in Los Angeles, CIM maintains regional offices in New York City, Oakland, CA, Bethesda, MD, and Dallas. For more information, please visit www.cimgroup.com.

Contacts

Diehl Communications
Karen Diehl
(310) 741-9097
karen@diehlcommunications.com

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Release Summary

CIM Group acquires Turtle Creek Village, a mixed-use property encompassing an 18-story office building, and a grocery-anchored retail center.

CIM Group