Stream Realty Partners Drives One Hanover Office Leasing to Nearly 70% After Repositioning in Addison

ADDISON, Texas — July 1, 2026 — Stream Realty Partners announced that One Hanover, a 196,656-square-foot office building located at 16633 North Dallas Parkway in Addison, Texas, has reached nearly 70% occupancy following a comprehensive repositioning effort backed by more than $4.4 million in capital improvements from owner New York Life Investment Management.

The leasing momentum represents a significant turnaround for the property, which stood at approximately 40% occupied when New York Life Investment Management acquired it in the fourth quarter of 2023. Stream Realty Partners has since completed more than 56,000 square feet of new leases at the building, drawing a mix of professional services, financial, healthcare, and energy-sector tenants to the Lower Tollway submarket.

Repositioning Drives Leasing Activity at Addison Office Property

New York Life Investment Management's capital program targeted the tenant experience, delivering upgrades to common areas, new on-site amenities, and multiple floors of move-in-ready, speculative office suites. The repositioning was designed to align the asset with evolving occupier preferences in a market where tenants have grown increasingly selective about the quality and flexibility of office space.

The speculative suite strategy proved effective: within 12 months of delivering the initial spec suites, all available spaces were leased. Stream Realty Partners also reported that more than 60% of a future phase of flexible spec suites on the fifth floor has already been preleased.

"The office market remains highly selective, but tenants continue to respond to properties that offer a reimagined experience with high-quality spaces that can accommodate near-term move-in dates," said Chase Lopez, Senior Vice President at Stream Realty Partners. "At One Hanover, ownership made a meaningful investment in the asset, and the leasing activity we've seen reflects both the quality of those improvements and the continued strength of the Lower Tollway submarket."

New Tenants Span Professional Services, Financial, and Energy Sectors

Stream Realty Partners completed more than 56,000 square feet of new leases at One Hanover, with seven tenants accounting for the bulk of that activity. The roster includes:

• Rolfson Oil, described as North America's largest oilfield-only fueling solutions provider, which signed the largest single lease at 19,781 square feet.
• Reliance Standard Life Insurance, a provider of insurance and financial protection products, which leased 7,345 square feet.
• Plutus Health, a healthcare revenue cycle management company, which leased 6,865 square feet.
• Gurian PLLC, a Dallas-based CPA and advisory firm, which leased 6,718 square feet.
• AvalonBay Communities, a publicly traded multifamily real estate investment trust, which leased 6,587 square feet.
• 1847 Financial, a financial planning and wealth management firm affiliated with Penn Mutual, which leased 4,444 square feet.
• JLK Rosenberger, LLP, a certified public accounting firm, which leased 4,423 square feet.

Sale Process Follows Leasing Success

Following the leasing success at One Hanover, New York Life Investment Management has elected to bring the building to market for sale. Newmark's capital markets team has been engaged to solicit interest from office investors.

About the Leasing Team and Stream Realty Partners

Stream Senior Vice Presidents Marissa Parkin and Chase Lopez oversee leasing at One Hanover on behalf of ownership.

Stream Realty Partners is a national commercial real estate firm headquartered in Dallas with an integrated platform spanning leasing, investment, and development services. The firm reports more than 1,550 professionals and annual transaction volume exceeding $11.5 billion. Since its founding in 1996, Stream Realty Partners has grown to operate in core markets across the country.

For more information, contact Stream Dallas at 214.267.0400.

Sources: Stream Realty Partners — One Hanover Occupancy Nears 70% Following Repositioning