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Bank Of America Renews 10-Year Lease At Hallmark Center I In Dallas For 553799 Square Feet

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LEASED
Rhett Miller IV
Matt Wieser
+ 1

Texas

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Office553,799 SF
Leased 08/20/2024
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Property Image
LEASED

Bank Of America Renews 10-Year Lease At Hallmark Center I In Dallas For 553799 Square Feet

16001 Dallas Parkway

See Similar Deals
Office553,799 SF
Leased 08/20/2024
Rhett Miller IV
Matt Wieser
+ 1
Contact now

Summary

TEXAS
Asset Type:Office
Price Per Square Foot:$0
Total Square Footage:553,799 SF
Transaction Type:Lease

The lease transaction involves an office property located at 16001 North Dallas Parkway in the Dallas market. The asset encompasses a total square footage of 553,799 and is part of Hallmark Center I. The property is currently owned by RMR Group, which has maintained Bank of America as the sole tenant since a sale-leaseback executed in 2013.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Lease Term: 10 years
  • Landlord: RMR Group
  • Tenant: Brian Moynihan - Bank of America
  • Landlord's Representative: Matt Wieser & Rhett Miller - Stream Realty Partners
  • Tenant's Representative: Andy Leatherman & Bret Hefton - JLL

The lease was facilitated by JLL and Stream Realty Partners, emphasizing the collaboration between the landlord's and tenant's representatives. This renewal secures Bank of America's continued occupancy of the entire campus for the next decade.

Players

Matt Wieser
4 deals(214) 210-1368
BROKER

Rhett Miller IV
Stream Realty Partners⁠
5 deals
BROKER

Andy Leatherman
JLL
1 deal
BROKER

Details

LEASED
IMAGE: Brian Moynihan, Matt Wieser, Rhett Miller, Andy Leatherman & Bret Hefton DATE: 08/20/2024 ADDRESS: 16001 North Dallas Parkway MARKET: Dallas ASSET TYPE: Office ~ SF: 553,799 LANDLORD: RMR Group TENANT: Brian Moynihan - Bank of America (@BankofAmerica) LANDLORD'S REP: Matt Wieser & Rhett Miller - Stream Realty Partners⁠ (@StreamRealtyPartners) TENANT'S REP: Andy Leatherman & Bret Hefton - JLL (@JLL) LEASE TERM: 10-year NOTE: Bank of America renewed its 553,799-square-foot lease at Hallmark Center I in Addison, Texas, for 10 years, occupying the entire campus. JLL and Stream Realty Partners facilitated the deal, with the RMR Group representing the landlord and the investment bank continuing as the sole tenant since a 2013 sale-leaseback. ⁠

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Deal Type
Effective Rent (Annual)

$31,743,424.49

Total Lease Value

$317,434,244.94

Net Landlord Cash Flow$31,743,424.49