This Week's Dallas-Fort Worth Deal Sheet: De La Vega Snaps Up Turtle Creek Village
A prominent mixed-use development in the Turtle Creek area of Dallas has a new owner.
De La Vega Capital’s DLV TC Village LP purchased the mixed-use Turtle Creek Village development from CIM Group earlier this month.
Located on Oak Lawn Avenue, Turtle Creek Village features a nearly 230K SF office tower and a 95K SF retail center anchored by Tom Thumb.
The firm plans to implement a new merchandising plan at the development and refresh the streetscaping to enhance the pedestrian experience and make it more walker-friendly.
“Our focus is on enriching the neighborhood experience and building long-term value for everyone it serves,” De La Vega Executive Vice President Annmarie De La Vega said in a statement.
DLV TC Village also plans to announce a redevelopment strategy for the property at a later date.
PEOPLE
Steve Echols joined JLL’s Project and Development Services team as a senior vice president in the Dallas office. Echols went to JLL after 21 years with CBRE. He will manage, design and deliver solutions on behalf of JLL’s clients in the market.
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The city of Celina appointed Ashley Owens as its new city secretary. She was previously city secretary in Coppell and has more than a decade of municipal experience.
SALES
CBRE announced the sale of the more than 101K SF Lexington Village retail center at 11401 Coit Road in Frisco. An undisclosed buyer purchased the asset from Centergy Retail for an undisclosed price. CBRE’s Jim Batjer, Chris Cozby, Harrison Tye and Grace Moses arranged the transaction on behalf of the seller.
LEASES
Barnes & Noble leased more than 20K SF of retail space in The Plaza at Rockwall shopping center at 1015 E. Interstate 30 in Rockwall. Weitzman’s Gretchen Miller and Emilie Paulson handled negotiations as project leasing agents for the retail center, a project of CTO Realty Growth. Segovia Partners represented Barnes & Noble in the deal.
CONSTRUCTION AND DEVELOPMENT
Merriman Anderson Architects completed a renovation of the nearly 28K SF Historic Gospel Lighthouse Church for nonprofit organization Dream Center Dallas. The restored building marks the first of two historic structures to be renovated to support Dream Center Dallas’ ministry and outreach operations. The project included restoring the church’s original façade and prominent roof beacon. Functional upgrades were also made to classrooms, offices and meeting areas.
