DALLAS–(BUSINESS WIRE)–CIM Group, a community-focused real estate and infrastructure owner, operator, lender and developer, announced today that it has signed a long-term lease with Paceline Equity Partners, LLC for 12,465 square feet at the Offices at Turtle Creek Village. Located at 3838 Oak Lawn Dr. in Dallas, Paceline will occupy the entire 6th floor of this 18-story, approximately 229,868-square-foot office tower in the heart of the mixed-use Turtle Creek Village.
Paceline is a Dallas-based private equity manager focused on value-oriented and special situations investments across private equity, corporate credit, and real assets. The company will relocate its operations to the Offices at Turtle Creek Village, which will serve as its headquarters.
The Offices at Turtle Creek Village was constructed in 1973 and CIM Group acquired the office tower and the 95,0000-square-foot Shops at Turtle Creek Village in July 2017. In addition to providing captivating views of Highland Park, Uptown and beyond, the office building offers tenants a re-envisioned and modernized spacious lobby and comfortable lounge area as well as a second-floor tenant conference space and lounge.
With its prime spot in the heart of the Turtle Creek and situated on the same site as the Shops at Turtle Creek Village, office tenants can enjoy an array of daily needs shops and services including a top-tier grocer, fashion retailers, fitness operators and a mix of fine dining and fast casual restaurants. In addition, there are several nearby hotels and entertainment venues. There is easy access to the Offices at Turtle Creek Village from both the North Dallas Tollway and Central Expressway.
As part of its sustainable, green building practices at the Offices at Turtle Creek Village, Alveole has been engaged to operate a beehive at the property. Building tenants are invited for workshops to learn about the importance of bees to the ecosystem as well as operating a beehive. Tenants also receive free honey from the beehive.
CIM Group was represented by Tommy Nelson and Alexandra Cullins of CBRE. Paceline was represented by Travis Boothe and Zach Bean of Cushman & Wakefield.
For more than 25 years, CIM Group has utilized its broad expertise to own, develop, reposition, and operate real estate assets, transforming communities and creating dynamic environments 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.