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
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