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15601 Dallas Parkway

Asset Living Renews 13168 SF Lease At Addison Circle One Represented By Partners Real Estate
LEASEDOffice

Asset Living Renews 13168 SF Lease At Addison Circle One Represented By Partners Real Estate

15601 Dallas Parkway

Building Size

13,168 SF

Asset Type

Office

Closing

Jun 25, 2025

AI

The property involved in this transaction is an office asset located at 15601 Dallas Parkway in Addison, Texas. This office space encompasses 13,168 square feet and is situated within a 10-story building, which has a total size of 293,787 square feet. The asset is part of the larger Addison Circle master-planned development and has been under the ownership of Franklin Street Properties since 2002.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 15601 Dallas Parkway
  • Market: Addison
  • Landlord: Franklin Street Properties
  • Tenant: Ryan McGrath - Asset Living
  • Landlord's Representatives: Chris Taylor - Cushman & Wakefield; Trey Smith - CBRE
  • Tenant's Representatives: Dan Boyles, Jeremy Brubaker & Justin Utay - Partners Real Estate
  • Lease Renewal: Asset Living renewed its lease at Addison Circle One
  • Lease Size: 13,168 SF

This transaction showcases the collaboration between several brokers. Partners Real Estate represented tenant Asset Living, while Franklin Street Properties was represented by Chris Taylor from Cushman & Wakefield and Trey Smith from CBRE. The renewal of the lease reflects the ongoing relationship between the involved parties within the Addison market.

Players

Dan Boyles

Partners Real Estate

Broker

19 deals

Broker
CBRE
CBREBrokerage
Franklin Street Properties
Franklin Street PropertiesLandlord

Addison Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93