facebook

traded

+ Submit
Home

/

Deals

/

Texas

/

Office

/

Lease

/

5525 Granite Parkway

Will Hendrickson Of Granite Properties And Ted Klinck Of Highwoods Properties Lease Office To Lockton In Plano
LEASEDOffice

Will Hendrickson Of Granite Properties And Ted Klinck Of Highwoods Properties Lease Office To Lockton In Plano

5525 Granite Parkway

Building Size

52,961 SF

Asset Type

Office

Closing

Feb 28, 2025

AI

The property asset is an office space located at 5525 Granite Parkway in Plano. The total square footage of the space is 52,961. The transaction was completed as part of a lease agreement.

Summary of transaction details:

The key individuals involved in the transaction include the landlords Will Hendrickson and Ted Klinck, representing Granite Properties and Highwoods Properties respectively. The tenant, Steve Idoux, is associated with Lockton, while the transaction was supported by tenant representatives Dan Harris and Randy Cooper from Stream Realty Partners and Josh Goldsmith and Michael (Mike) Mayer from Cushman & Wakefield.

Players

Randy Cooper

Stream Realty Partners⁠

Broker

9 deals

Broker
Ted Klinck

Ted Klinck

Landlord

$119.7M

vol

2 deals

Landlord

Plano Office Market Snapshot

Boundary boundary · Office · Lease transactions

Loading comparables…

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