- Franklin Street Properties is offering an 11-building office portfolio totaling 4.6 million SF, including Liberty Plaza and Addison Circle One in Addison and Tennyson Center in Plano.
- The North Texas buildings are far from full, with leasing at 65% for Addison Circle, 64% for Liberty Plaza and 41% for the Legacy Tennyson Center towers.
- The sale will show how much buyers pay for discounted, partly vacant suburban offices while newer Dallas trophy space draws strong tenant demand.
Franklin Street Properties is putting an 11-building portfolio on the market, including five office buildings in Plano and Addison, The Real Deal reports.
JLL is handling the sale and says the price would be a meaningful discount to replacement cost, according to the Dallas Business Journal.
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What’s for Sale
The five North Texas buildings cover more than 700,000 SF. They include Liberty Plaza I and II on Keller Springs Road. Addison Circle One on Dallas Parkway is also part of the group. The remaining properties are Tennyson Center I and II in Plano.
The full portfolio totals 4.6 million SF. It also includes properties in Houston, Denver and Minneapolis.
The Discount Comes With Risk
Leasing remains thin. Addison Circle is 65% leased, while Liberty Plaza is 64% leased. Meanwhile, the Legacy Tennyson Center buildings are just 41% leased. Those figures come from the Dallas Business Journal, as cited by The Real Deal.
Appraisal districts value Addison Circle One at $52.5 million. They put Liberty Plaza at $10.2 million and the Legacy Tennyson Center at $14.8 million.
Zoom Out
Plano has long been a corporate magnet. In July, we covered JLL’s listing of the fully leased, Samsung-anchored Legacy Central campus. However, that property sits in a very different position from these half-empty buildings.
Meanwhile, The Real Deal reported that the Dallas office market is booming by nearly every metric. Net absorption climbed, while vacancy fell in the third quarter. In addition, Trophy space on Uptown’s Y’all Street made up 60% of the construction pipeline in the second quarter of 2026.
Why It Matters
Older suburban buildings are not sharing the same momentum. Our October report on Uptown property values showed JLL valuing Uptown at more than $10 billion. Y’all Street tenants helped drive that figure.
As a result, a sale here would show what investors will pay for value plays. That matters as the best space continues to attract attention.
What’s Next
The reporting does not include an asking price or bid timeline. Therefore, pricing and buyer interest will be key data points to watch for the Plano and Addison buildings.
