{"id":1004700718,"date":"2024-02-02T02:28:27","date_gmt":"2024-02-02T10:28:27","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004700718"},"modified":"2024-02-02T02:28:29","modified_gmt":"2024-02-02T10:28:29","slug":"property-advisers-realty-inks-hq-expansion-at-dfw-property","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/property-advisers-realty-inks-hq-expansion-at-dfw-property\/","title":{"rendered":"Property Advisers Realty Inks HQ Expansion at DFW Property"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a356aee8a3fc&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-medium is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004700719\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/property-advisers-realty-inks-hq-expansion-at-dfw-property\/the-madison-dfw\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/The-Madison.-DFW-e1706801226308.jpg\" data-orig-size=\"1822,1365\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"The Madison. DFW\" data-image-description=\"&lt;p&gt;The Madison&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The Madison rises 12 stories in the Platinum Corridor South submarket. Image courtesy of Cushman &#038; Wakefield&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/The-Madison.-DFW-e1706801226308.jpg?w=1024\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" height=\"225\" width=\"300\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/The-Madison.-DFW-e1706801226308.jpg?w=300\" alt=\"The Madison\" class=\"wp-image-1004700719\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/The-Madison.-DFW-e1706801226308.jpg 1822w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/The-Madison.-DFW-e1706801226308.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/The-Madison.-DFW-e1706801226308.jpg?resize=768,575 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/The-Madison.-DFW-e1706801226308.jpg?resize=1024,767 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/The-Madison.-DFW-e1706801226308.jpg?resize=1536,1151 1536w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The Madison totals 288,000 square feet of office space. <em>Image courtesy of Cushman &amp; Wakefield<\/em><\/figcaption><\/figure><\/div>\n\n\n<p><strong>Property Advisers Realty<\/strong> has signed a lease expansion and extension totaling 45,098 square feet at The Madison, a Class A office building in Addison, Texas, within the Platinum Corridor South submarket. The tenant is waste and sustainability operator <strong>CheckSammy<\/strong>, that expanded its commitment with 22,549 square feet.<\/p>\n\n\n\n<p><strong>Cushman &amp; Wakefield<\/strong> represented the tenant, while the owner worked in-house. The building&#8217;s roster includes The RMR Group, Regus, Orlando Group, Northwestern Mutual and Trintech, among others, according to CommercialEdge.<\/p>\n\n\n\n<p>The Madison is a 288,000-square-foot office mid-rise at 15851 N. Dallas Parkway that has four passenger elevators, a fitness center, 30,000-square-foot floor plates, first-floor retail space and 977 parking spots. Originally built in 1984, the property was recently renovated. The current ownership picked up the asset in 2016 from seller Granite Properties, CommercialEdge data shows.<\/p>\n\n\n\n<p>The 12-story building sits on 4 acres and is close to the Dallas North Tollway and to Addison Airport, 13 miles from downtown Dallas, 16 miles from Irving, Texas, 18 miles from Dallas Fort-Worth International Airport and within 38 miles of Fort Worth, Texas.<\/p>\n\n\n\n<p>Cushman &amp; Wakefield\u2019s team of Executive Director Travis Boothe, Senior Associate Hanna Henley and Vice Chairman Robbie Baty represented the tenant. With CheckSammy\u2019s expansion, the company now increased its capacities to accommodate up to 250 employees, said Boothe, in prepared statements. Property Advisers Realty&#8217;s team of Executive Vice Presidents Michael Foster and Chris Andler represented the landlord.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-significant-job-growth-and-decreasing-rents\">Significant job growth and decreasing rents<\/h2>\n\n\n\n<p>Despite experiencing one of the most robust job growths across office markets, Dallas-Fort Worth saw its vacancy rate clock in at 20.2 percent, marking a 170 basis points increase as of December, a recent <a href=\"https:\/\/www.commercialedge.com\/blog\/national-office-report\/\">CommercialEdge report<\/a> shows. The metro&#8217;s average listing rate fell more than 6 percent year-over-year, to reach $26.99 per square foot, one of the lowest among Southern markets.<\/p>\n\n\n\n<p>On par with market dynamics, Bank of America signed a 238,000-square-foot lease at Parkside in Uptown Dallas, in <a href=\"https:\/\/www.commercialsearch.com\/news\/bank-of-america-signs-248-ksf-dallas-lease\/\">one of the largest leases of 2023<\/a>. Developed by Pacific Elm Properties and KDC, the office project will total 500,000 square feet. The tenant downsized from its former headquarters, where it occupied 500,000 square feet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The tenant will occupy 45,098 square feet at the 288,000-square-foot building.<\/p>\n","protected":false},"author":2991,"featured_media":1004700719,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,1586,21742,21747,51973],"tags":[34908,52309],"class_list":["post-1004700718","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-dallas","category-latest","category-office","category-southwest","tag-cushman-wakefeld","tag-property-advisers-realty"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Property Advisers Realty Inks HQ Expansion at DFW Property - 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