Owner-user office deals, a trend seen in Houston, are gaining traction in Dallas-Fort Worth (DFW). Provident Realty Advisors has acquired One Lincoln Park, a 10-story office building at 8401 North Central Expressway near Northwest Highway. The company announced on LinkedIn that the property will be “our future home,” indicating plans to occupy the building rather than use it solely as an investment.
This type of transaction, where businesses buy properties they intend to use instead of leasing them, has helped boost Houston’s office market amid declining values. In DFW, this approach is now being adopted as companies seek greater control and stability.
The seller was Triumph Financial, which had purchased the building last year with intentions to move its headquarters there. The deal closed on December 17. While the purchase price was not disclosed, local appraisal records value the 257,000-square-foot property at nearly $56.6 million.
Colliers executive vice president Jack Crews led the brokerage team for Provident’s acquisition. Triumph Financial had acquired the property from Piedmont Office Realty Trust for $54 million in an off-market cash transaction in 2024 after Piedmont held it for about ten years.
When Triumph bought One Lincoln Park, occupancy stood at just 12 percent according to Colliers data. Triumph began removing tenants and planned renovations ahead of a headquarters relocation set for 2026 but opted to sell due to increased buyer interest as market conditions improved.
“While our initial plan was to make it our headquarters, we received significant interest from potential buyers during the preparation phase,” Triumph Financial said in a statement.
Provident’s purchase comes as the DFW office sector shows some signs of stabilization. Leasing activity increased last quarter and pushed down overall vacancy rates by 30 basis points to 25 percent according to Partners Real Estate’s third-quarter report for 2025 (https://partnersrealestate.com/market-research/q3-2025-office-market-report-dallas-fort-worth/).
However, recovery remains uneven across the region. Demand continues to concentrate on newer and well-located buildings while older stock and downtown submarkets face challenges. Downtown Dallas reported a vacancy rate of 27.2 percent—the second-highest among major U.S. downtowns—according to The Wall Street Journal (https://www.wsj.com/real-estate/commercial/downtown-dallas-office-vacancy-second-highest-u-s-c0b85c41).
