CIM Group Sells 177,434-Square-Foot Best Buy Plaza Shopping Center in North Dallas

DALLAS--(BUSINESS WIRE)--CIM Group announced today that it has sold Best Buy Plaza, an approximately 177,434-square-foot retail shopping center located at 9358 N. Central Expressway in North Dallas.

CIM Group acquired Best Buy Plaza in 2016. Situated on a 14.61-acre site approximately seven miles north of the Dallas Central Business District, Best Buy Plaza was constructed in 1995 and benefits from a prominent location along the heavily trafficked North Central Expressway. The center serves several highly regarded residential communities including Highland Park, University Park and Preston Hollow.

During its ownership, CIM Group invested in the ongoing maintenance and enhancement of the property through a program of capital improvements supported by CIM’s property management and marketing teams. The shopping center is 100% leased and anchored by Best Buy, with additional tenants including Dick’s Sporting Goods, Total Wine, Cavender’s and Hyper Kidz.

CIM Group was represented by JLL in the transaction.

For over 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.