CIM Group Sells Turtle Creek Village Mixed-Use Asset In Dallas For $325 Million

The property involved in this transaction is a mixed-use asset located at 3838 Oak Lawn Avenue in the Dallas market. This property encompasses a total square footage of 325,000. It was sold by CIM Group, which had repositioned the asset since its acquisition in 2017, enhancing both the office and retail components of the property.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: Not specified
• Address: 3838 Oak Lawn Avenue
• Market: Dallas
• Asset Size: 325,000 SF
• Seller: Shaul Kuba, Richard Ressler & Avi Shemesh - CIM Group

CIM Group's strategy included upgrading the 230,000 SF Class A office tower with spec suites and modern amenities, alongside fully leasing the 95,000 SF grocery-anchored retail center to tenants focused on health and services. This repositioning played a crucial role in the sale of Turtle Creek Village.