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
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