CIM Group Sells Turtle Creek Village Mixed-Use Office and Retail Center in Dallas

DALLAS--(BUSINESS WIRE)--CIM Group announced today that it has sold Turtle Creek Village, a mixed-use property that consists of the Offices at Turtle Creek Village, a 230,000-square foot, 18-story, Class A office tower and the Shops at Turtle Creek Village, a 95,000-square-foot grocery-anchored retail center in the heart of the Turtle Creek neighborhood of Dallas. CIM Group acquired the property in 2017 and completed a repositioning of both office and retail components.

The Offices at Turtle Creek Village are leased to a diverse mix of tenants attracted to its central location, efficient design, sweeping area views, and abundant nearby amenities. The Shops at Turtle Creek Village is anchored by a regional grocery chain and offers a mix of daily needs shops, restaurants and services.

Under CIM Group’s management, the office was modernized for tenants and visitors, with upgrades to the building lobby and amenities. Adjusting to market demand from businesses seeking smaller, move-in ready space, CIM Group constructed spec suites designed with high-end finishes offering an efficient and flexible design. In addition, CIM Group successfully leased up the retail space to attract a mix of high-performing restaurants and retailers focused on health and beauty categories in line with customer demand.

For 30 years, CIM Group has applied its community-focused investing approach by utilizing its broad expertise in owning, developing, repositioning, and operating real estate assets to enhance communities throughout the Americas.

About CIM Group

CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. For more information, visit www.cimgroup.com.