Cushman & Wakefield has closed the sale of a 47,423-square-foot office building at 17120 Dallas Parkway in Dallas. Beth Lambert, Executive Managing Director, and Diego Arroyave, Senior Vice President, negotiated the off-market sale on behalf of the Loomis Agency and Carbon Cos. The sellers will continue to occupy the building as tenants.

Represented by Bryan Marquis, the Dallas-based family office of Embrey Interests bought the asset as part of a 1031 exchange, after recently selling Park Creek Place in the Turtle Creek area of Dallas. Working on behalf of the new owner, Lambert and Arroyave secured a 10-year acquisition loan through a life insurance company.

The two-story building lies within the Quorum/Bent Tree submarket of Far North Dallas, between Trinity Mills and Keller Springs roads. With frontage along the Dallas North Tollway and proximity to the President George Bush Turnpike, it offers both visibility and accessibility. The area’s demographics and access to a deep employment base were also key factors in the buyer’s pursuit of the investment. Additionally, the property benefits from a stable rent roll of seven tenants, with 79 percent of the building leased through 2024.

“The primary goal was to ensure a competitive process and maximize execution,” Lambert said. “But right behind that was finding the right landlord, as the sellers will be long-term occupants in the building. In this case, both objectives were achieved.”

Keith Heil with Vista Property Co. has been retained to lease the building.