**CIM Group Sells Turtle Creek Village in Dallas to De La Vega Development**
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 two major components: the Offices at Turtle Creek Village, an 18-story, 230,000-square-foot Class A office tower, and the Shops at Turtle Creek Village, a three-building retail center encompassing 95,000 square feet and anchored by a grocery tenant.
According to media reports, the buyer is De La Vega Development, the Dallas-based firm known for developing The Central.
CIM Group originally acquired Turtle Creek Village in 2017 and undertook a comprehensive repositioning of both its office and retail sectors. As part of the upgrades, the company introduced flexible-design spec suites in the office tower and achieved leasing success in the retail portion.
Commercial Edge reports that the Offices at Turtle Creek Village, located at 3838 Oak Lawn Avenue and originally built in 1972, are currently approximately 94 percent leased.
For the past 30 years, CIM Group has employed a community-focused investment approach, leveraging its extensive experience in real estate ownership, development, repositioning, and operations to enhance communities across the Americas.
