CARDINAL CAPITAL PARTNERS BUYS ICONIC UPTOWN OFFICE BUILDING
October 10, 2014
Dallas-based Cardinal Capital Partners, Inc. (CCP) has acquired 3131 Turtle Creek. The 140,000 square-foot, 13-story, office building built in 1972, is located at the intersection of Turtle Creek Boulevard and Cedar Springs Road in Uptown. The property is situated in the heart of Dallas’ most prestigious neighborhoods, adjacent to Highland Park, and offers a premier business address.
Cardinal Capital Partners intends to fully renovate 3131 Turtle Creek and convert it to a Class A Office Building. Capital improvements include lobby renovations, monument signage, new landscaping, HVAC system upgrades, enhancement of elevators, installation of fire sprinklers, and exterior modifications. CCP has hired Dallas-based Staffelbach for the design and development.
“3131 Turtle Creek is one of the premier office locations in Uptown that has gone somewhat unnoticed during the past cycle. The building has a timeless mid-century design and we intend to introduce modern elements while preserving the classical aesthetic of the building. The building sits at the entrance to the bustling Uptown markets, and yet is defined by the serene environment of Turtle Creek, proximity to the Katy Trail, and expansive views of the Dallas skyline,” says Gil Besing, President of CCP, Inc.
Dallas’ Uptown market is the epicenter of Dallas’ most successful retail, hospitality, entertainment and residential developments. After renovations are complete, 3131 Turtle Creek will be one of the most desirable office addresses in the Uptown market.
Developed by J.L. Williams, the property has had only one owner during the past 30 years. Lincoln Property Company has been named the exclusive leasing agent for 3131 Turtle Creek and PHI Property Management, Inc. has been appointed to manage the property.
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