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:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 5525 Granite Parkway
- Market: Plano
- Landlord: Will Hendrickson - Granite Properties & Ted Klinck - Highwoods Properties
- Tenant: Steve Idoux - Lockton
- Tenant's Representatives: Dan Harris & Randy Cooper - Stream Realty Partners, Josh Goldsmith & Michael (Mike) Mayer - Cushman & Wakefield
- Brokers: Burson Holman, Robert Jimenez & Elizabeth Fortado - Granite Properties
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
Plano 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