Franklin Street Puts 11-Building Office Portfolio Up for Sale

Franklin Street Properties is marketing 4.6 million square feet of office space across several states through JLL.

Updated on Nov. 4, 2026 in Commercial

Franklin Street Puts 11-Building Office Portfolio Up for Sale

Franklin Street Properties has placed an 11-building office portfolio on the market, with JLL marketing the properties at a meaningful discount to replacement cost. The portfolio includes five buildings in Plano and Addison that span upwards of 700,000 square feet and totals 4.6 million square feet across properties in Houston, Denver, and Minneapolis.

Why it matters

The sale offers buyers a large block of office space at a price below what it would cost to build new, at a time when Dallas-area office demand is recovering. Lease rates in several buildings remain well below full occupancy, which will shape how potential buyers value the portfolio.

The five North Texas buildings span upwards of 700,000 square feet within a 4.6 million square foot portfolio, with leased rates of 65 percent at Addison Circle One, 64 percent at Liberty Plaza, and 41 percent at Legacy Tennyson Center. Appraised values include $52.5 million for Addison Circle One, $10.2 million for Liberty Plaza, and $14.8 million for Legacy Tennyson Center, and the asking price has not been disclosed.

The players

Franklin Street Properties

A publicly traded real estate investment trust that owns and manages office properties across the United States.

JLL

Jones Lang LaSalle, a global commercial real estate services firm that is marketing the portfolio for sale.

The details

JLL is marketing the eleven-building portfolio, which includes properties in Plano, Addison, Houston, Denver, and Minneapolis. The listing describes the price as a meaningful discount to replacement cost, but no sale price has been announced.

Third quarter 2026: Dallas office market net absorption climbed and vacancy declined.
Second quarter 2026: Trophy offices in Uptown's Y'all Street made up 60 percent of the construction pipeline.

Market Landscape

Dallas office net absorption climbed and vacancy declined in the third quarter of 2026, according to recent market reporting. The sale comes as trophy offices in Uptown's Y'all Street account for 60 percent of the construction pipeline, signaling continued investor interest in premium North Texas office space.

Tenants and brokers in Dallas-area office buildings may see sales activity affect leasing negotiations as the portfolio moves through the market. Buyers considering office space should track vacancy and leasing rates in comparable Plano and Addison properties before making decisions.

The takeaway

Office portfolios priced below replacement cost can create opportunities for buyers, but occupancy levels will largely determine their long-term value. Watching absorption and vacancy trends in Dallas submarkets offers a practical guide for evaluating similar deals.