CIM Group Sells Turtle Creek Village in Dallas
CIM Group has completed the sale of Turtle Creek Village, a prominent mixed-use development located in the Turtle Creek neighborhood of Dallas. The property includes The Offices at Turtle Creek Village, a Class A, 18-story office tower comprising approximately 230,000 square feet, as well as the Shops at Turtle Creek Village, a 95,000-square-foot retail center anchored by a grocery tenant across three buildings.
According to media reports, the buyer of the development is De La Vega Development, best known for its work on The Central in Dallas.
CIM Group acquired the property in 2017 and carried out a comprehensive repositioning strategy. This effort included the construction of speculative office suites with flexible floor plans and the successful lease-up of the retail component.
The Offices at Turtle Creek Village, originally built in 1972, are located at 3838 Oak Lawn Avenue. CommercialEdge reports the office space maintains a strong occupancy rate of approximately 94%.
For the past three decades, CIM Group has pursued a community-focused investment strategy. The firm leverages its expertise in acquiring, developing, repositioning, and operating real estate assets to support and enhance urban communities across the Americas.
