CIM Group and Open Realty Advisors Acquire Henderson Avenue Retail Properties
CIM Group and Open Realty Advisors announced today the acquisition of 28 buildings comprising 130,000 square feet of retail, restaurant and commercial space along Henderson Avenue between North Central and Ross Avenue. Over the past 20 years the Henderson Avenue corridor which connects Dallas's Highland Park and East Dallas neighborhoods has become a popular pedestrian-friendly destination for both Dallas residents and visitors. The area is well known for its well-diversified mix of eclectic retailers and innovative eateries.
The retail and restaurant venues on Henderson Avenue are within walking distance from the burgeoning residential communities on and around Henderson Avenue and the nearby M Streets that are home to many young affluent professionals.
CIM Group and Open Realty Advisors plan to continue to grow the unique mix of retail tenants along the Henderson Avenue corridor. CIM Group identified the Dallas metropolitan area as possessing the attributes that fit the firm's urban investment strategy, and it is an active investor in other markets in the state.
About CIM Group
CIM Group is a leading real estate and infrastructure investment firm that since 1994 has systematically and successfully invested in dynamic and densely populated communities throughout North America. CIM Group draws on its experienced team of real estate, investment and finance professionals to identify and pursue investment opportunities in three primary strategic categories: repositioning and development projects in established and emerging urban areas; well-positioned operating properties in transitional and established districts; and infrastructure. CIM manages three distinct portfolios, including opportunistic, stabilized and infrastructure funds, each of which are diversified by geography and type of property within that risk profile. Headquartered in Los Angeles, CIM maintains regional offices in New York, the San Francisco Bay Area and Bethesda, Maryland. For more information, please visit www.cimgroup.com.
About Open Realty Advisors
Since 1988, Open Realty Advisors has advised premier retailers and restaurateurs in all facets of real estate, and together with its partners has made significant investments in real estate and consumer companies. Apple, J. Crew, Aritzia, Restoration Hardware, L'Occitane en Provence, Tourneau, C. Wonder, House of Blues are among a long list of notable brands that have relied upon Open Realty Advisors for real estate consulting. Open Realty Advisors has consummated real estate transactions in every significant market in North America. For more information, please visit www.openra.com.
Casey & Sayre
Karen Diehl, 310-473-8090