Franklin Street Properties is placing an 11 building portfolio that includes five buildings in Plano and Addison up for sale.
The properties nestled in North Dallas span upwards of 700,000 square feet, with the full portfolio totaling 4.6 million square feet.
The sale of the suburban office assets could reveal what investors think about value plays in the midst of the massive momentum other areas of Dallas are having. JLL, who is marketing the portfolio for sale, said in the listing that the price would represent a “meaningful discount to replacement cost,” according to the Dallas Business Journal. The other submarkets represented in the portfolio are Houston, Denver and Minneapolis.
The advertised discount comes with risk. The five North Texas buildings in the listing are Liberty Plaza I and II at 5055 and 5057 Keller Springs Road as well as Addison Circle One at 15601 Dallas Parkway in Addison and Tennyson Center I and II in Plano. Addison Circle sits at 65 percent leased, Liberty Plaza at 64 percent leased. The Legacy Tennyson Center buildings are 41 percent leased, according to the outlet.
Addison Circle One was valued at $52.5 million by the Dallas County Central Appraisal District, with Liberty Plaza coming in at $10.2 million and Plano’s Legacy Tennyson Center at $14.8 million from the Collin County Appraisal District, according to the outlet.
Plano and Uptown Dallas have been attracting strong tenant and corporate headquarter relocations, even as other, older individual office buildings in the area struggle. By nearly every metric, the Dallas office market is booming, with net absorption climbing and vacancy declining in this year’s third quarter. In the second quarter of 2026, trophy offices in Uptown’s Y’all Street made up 60 percent of the construction pipeline, while leasing in the region as a whole has been more or less flat in the third quarter.
— Hunter Cooke
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