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15851 Dallas Parkway

CheckSammy Expands Headquarters With Lease At The Madison, Addison In Texas
LEASEDOffice

CheckSammy Expands Headquarters With Lease At The Madison, Addison In Texas

15851 Dallas Parkway

Building Size

45,098 SF

Asset Type

Office

Closing

Feb 2, 2024

AI

The Madison, located at 15851 North Dallas Parkway in Addison, Texas, has seen an expansion in its tenant space. Sam Scoten, the founder of local waste and sustainability operator CheckSammy, has expanded the company's headquarters at The Madison by 22,549 square feet. This brings the total lease size to 45,098 square feet, making it a significant addition to the property's portfolio. The office space in The Madison is an attractive asset in the Addison market.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not specified
  • Square Footage: 45,098
  • Address: 15851 North Dallas Parkway
  • Market: Addison

In this lease transaction, Property Advisers Realty served as the landlord, representing the property's ownership. Sam Scoten, the founder of CheckSammy, acted as the tenant. The tenant's representation was provided by Hanna Henley, Robbie Baty, and Travis Boothe from Cushman & Wakefield. Chris Andler and Michael Foster, also from Property Advisers Realty, represented the landlord in the deal. Their expertise in the market and knowledge of the property likely contributed to the successful lease expansion.

It is worth noting that Cushman & Wakefield played a vital role in the transaction, representing CheckSammy throughout the lease negotiations. Their involvement showcases their expertise in facilitating deals in the commercial real estate market.

This lease expansion demonstrates the success and growth of CheckSammy, as well as their commitment to expanding their operational capacity in Addison. The Madison, with its prime location and attractive office space, provides an ideal setting for CheckSammy's headquarters to continue their waste and sustainability operations.

Players

Robbie Baty

Cushman & Wakefield

Broker

8 deals

Broker

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