Lockheed Martin Renews 455000 Square Foot Office Lease At 5555 North Beach Street Fort Worth
5555 North Beach Street
Building Size
455,000 SF
Asset Type
Office
Closing
Oct 13, 2025
About this deal
AI
The property asset involved in the transaction is an office space located at 5555 North Beach Street in Fort Worth. This asset encompasses a total square footage of 455,000 and is situated within the Fossil Creek Business Park, reflecting its significance in the local real estate market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Lease renewal
- Tenant: Jim Taiclet - Lockheed Martin
- Broker: Todd Burnette - JLL
- Lease Term: Through August 2031
- Employee Count: Approximately 1,800
- Market: Fort Worth
- Note: This lease is the largest office lease in DFW in the past decade.
- Contract Value: $24 billion
This deal involves key individuals, with Jim Taiclet representing Lockheed Martin as the tenant and Todd Burnette serving as the broker from JLL. Their collaboration ensures the lease renewal aligns with Lockheed Martin's expansion plans for F-35 production, reinforcing the company's commitment to maintaining a significant workforce in Fort Worth.
On the Map
Office
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Players
Fort Worth 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