Everything you wanted to know about the Urban Core, Uptown and Downtown Dallas, Texas & Dallas Ft. Worth Area Real Estate - Its growth, prosperity, setbacks and unprecedented revitalization is told here...Randall Turner of Harvard Companies, Inc 214-373-0007, 3500 Oak Lawn Avenue, Suite 325, Dallas, Texas 75219
Monday, January 16, 2017
Dallas family office buys North Central Expressway building in 1031 exchange deal
The four-story office building was recently renovated and 90 percent leased at the time of deal
Embrey Interests — a Dallas family office — has acquired a North Central Expressway boutique office building in a 1031 exchange deal after recently selling Park Creek Place in the Turtle Creek neighborhood.
The four-story, 52,717-square-foot office building at 4228 North Central Expressway was 90 percent leased at the time of the building sale. Terms of the agreement were undisclosed.
As a long-term holder, Embrey Interests' investment strategy fits perfectly with the office building's stable rent roll, said Beth Lambert, an executive managing director at Cushman & Wakefield's Dallas office.
Lambert's team is representing Embrey Interests as the firm grows its Dallas portfolio. Lambert and Diego Arroyave represented the family office, along with Bryan Marquis, in the recently closed deal.