3131 Turtle Creek Goes to Pension Fund

Dallas-based Cardinal Capital Partners Inc. ended its four-year hold on 3131 Turtle Creek, selling the office high-rise to the State Teachers Retirement System of Ohio. During its ownership of the 140,000-square-foot property, Cardinal Capital invested $10 million to upgrade the 45-year-old building. Though the sales price was undisclosed, area experts suggest the building sold for more than $350 per square foot.

The building delivered in 1972, and was one of the first office towers to go north along Turtle Creek Boulevard. The tenant base is a mix of professional services and healthcare companies.

According to the Dallas Morning News, the buyer owns approximately $7.7 billion in real estate, and wants to buy more in the Dallas area.

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