{"id":1004762573,"date":"2025-06-25T01:08:57","date_gmt":"2025-06-25T09:08:57","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004762573"},"modified":"2025-06-25T02:21:44","modified_gmt":"2025-06-25T10:21:44","slug":"franklin-street-inks-dallas-lease-renewal","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/franklin-street-inks-dallas-lease-renewal\/","title":{"rendered":"Franklin Street Inks Dallas Lease Renewal"},"content":{"rendered":"
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\"Exterior<\/a>
The 10-story Addison Circle One features a six-story parking garage. Image courtesy of CommercialEdge<\/em><\/figcaption><\/figure><\/div>\n\n\n

Property management firm Asset Living has renewed its 13,168-square-foot lease at Addison Circle One, a 293,787-square-foot office building in Addison, Texas. <\/p>\n\n\n\n

Partners Real Estate arranged the deal on behalf of the tenant, while Cushman & Wakefield, together with CBRE, represented landlord Franklin Street Properties in the transaction.<\/p>\n\n\n\n

The property has been under FSP\u2019s ownership since 2002, when the company acquired it from Champion Partners for $52.4 million, or approximately $178 per square foot, CommercialEdge information shows.<\/p>\n\n\n\n

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READ ALSO: <\/strong>Office Leasing Strategies That Work<\/a><\/p>\n\n\n\n

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As of May, office listing rates in Dallas climbed to an average of $31.74 per square foot\u2014below the national figure of $33.15\u2014reflecting a 9.5 percent change year-over-year, according to the latest CommercialEdge report<\/a>.<\/p>\n\n\n\n

Vacancy rates in the metro rose to 23.5 percent, up 190 basis points over a 12-month period, placing Dallas among the markets with the highest vacancy rates, trailing San Francisco (29.0 percent), Austin (28.9 percent) and Seattle (27 percent), among others.<\/p>\n\n\n\n

An office building at Addison Circle<\/h2>\n\n\n\n

Completed in 1998, the 10-story, LEED-Certified building features 31,000-square-foot floorplates, six passenger elevators and 1,225 car parking spaces. Amenities at the Class A mid-rise include a fitness center, conference center, on-site management and a six-story parking garage. The property is part of Addison Circle, an 80-acre master-planned development that includes\u00a0office, retail and residential buildings.<\/p>\n\n\n\n

Other tenants at Addison Circle One include CarOffer, Cyxtera, TenOaks Energy Advisors LLC, Allied World Assurance Co. and Mastek Inc., according to CommercialEdge.<\/p>\n\n\n\n

Located at 15601 Dallas Parkway, the building is just off Dallas North Tollway, which connects the property to downtown Dallas, some 15 miles south. Addison Airport is less than 1 mile west.<\/p>\n\n\n\n

Partners Dan Boyles, Jeremy Brubaker and Justin Utay with Partners’ Dallas office negotiated the lease renewal on behalf of the tenant. Cushman & Wakefield Executive Managing Director Chris Taylor, together with CBRE Executive Vice President Trey Smith represented the landlord.<\/p>\n","protected":false},"excerpt":{"rendered":"

The office building is part of an 80-acre master-planned community.<\/p>\n","protected":false},"author":3619,"featured_media":1004762617,"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":[32789,32799,32971,52018],"class_list":["post-1004762573","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-dallas","category-latest","category-office","category-southwest","tag-cbre","tag-cushman-wakefield","tag-franklin-street-properties-corporation","tag-partners-real-estate"],"acf":[],"yoast_head":"\nFranklin Street Inks Dallas Lease Renewal - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Asset Living has renewed its 13,168-square-foot lease at Franklin Street Properties Corp.\u2019 15601 Dallas Parkway in Addison, Texas.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/franklin-street-inks-dallas-lease-renewal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Franklin Street Inks Dallas Lease Renewal\" \/>\n<meta property=\"og:description\" content=\"Asset Living has renewed its 13,168-square-foot lease at Franklin Street Properties Corp.\u2019 15601 Dallas Parkway in Addison, Texas.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/franklin-street-inks-dallas-lease-renewal\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-25T09:08:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-06-25T10:21:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Addison-Circle-One.-Image-courtesy-of-CommercialEdge-edited.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Maria Maruta\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/franklin-street-inks-dallas-lease-renewal\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/franklin-street-inks-dallas-lease-renewal\/\",\"name\":\"Franklin Street Inks Dallas Lease Renewal - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/franklin-street-inks-dallas-lease-renewal\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/franklin-street-inks-dallas-lease-renewal\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Addison-Circle-One.-Image-courtesy-of-CommercialEdge-edited.jpg\",\"datePublished\":\"2025-06-25T09:08:57+00:00\",\"dateModified\":\"2025-06-25T10:21:44+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/34bf2de3f952f3db52e303344f1799df\"},\"description\":\"Asset Living has renewed its 13,168-square-foot lease at Franklin Street Properties Corp.\u2019 15601 Dallas Parkway in Addison, Texas.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/franklin-street-inks-dallas-lease-renewal\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/franklin-street-inks-dallas-lease-renewal\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/franklin-street-inks-dallas-lease-renewal\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Addison-Circle-One.-Image-courtesy-of-CommercialEdge-edited.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Addison-Circle-One.-Image-courtesy-of-CommercialEdge-edited.jpg\",\"width\":640,\"height\":480,\"caption\":\"The 10-story Addison Circle One features a six-story parking garage. 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