DALLAS – July 28, 2025 – A multi-million-dollar renovation is underway at One Hanover, a prominent 196,656-square-foot, eight-story office building located at 16633 Dallas Parkway in Addison, Texas. The capital improvement program, led by New York Life Real Estate Investors, is transforming the property’s arrival experience and amenities to attract the surge in tenant demand witnessed in recent years along the Dallas North Tollway. The capital improvement work is expected to be completed by January 2026.
The extensive renovations reflect a strategic focus on hospitality-forward office experiences, including a reimagined lobby with elegant finishes and a concierge-style courtesy guard to welcome guests. A fully equipped fitness center which will feature high-performance weight and cardio equipment, Peloton bikes, and premium locker rooms with showers and changing areas.
The upgraded tenant lounge, which is designed for informal meetings and social connections, will offer artisan coffee and health-conscious grab-and-go options in a relaxed yet modern setting. Additionally, a boardroom-style conference area will provide tenants with a sophisticated environment for executive meetings and collaborative work.
Since New York Life Real Estate Investors took ownership of the property at the end of 2023, several move-in-ready speculative spaces have been constructed and successfully leased. This initiative will continue as demand for users in the 3,000- to 10,000-square-foot range remains robust along the Dallas North Tollway.
“The renovations underway at One Hanover embody what tenants seek in their office environment today,” said Chase Lopez, Senior Vice President at Stream. “These tastefully designed areas will promote collaboration and tenant engagement. This is a proven strategy that, when implemented at the right office building in a desirable location, yields great results.”
Strategically located in the Lower Tollway submarket, between Interstate 635 and the President George Bush Turnpike, One Hanover offers exceptional convenient access and visibility to more than 150,000 cars daily along the Dallas North Tollway. The central location places tenants within a 30-minute drive of over two-thirds of the Dallas-Fort Worth population.
Designed for efficiency and collaboration, One Hanover features 26,444-square-foot floor plates and floor-to-ceiling glass walls that maximize natural light and workspace productivity. With more than 24 million square feet of inventory, the Lower Tollway has become one of the metroplex’s most in-demand office corridors as employers seek to reduce commute times for their teams by prioritizing buildings that are centrally located and offer hospitality-forward on-site amenities.
“Situated along one of the most active nodes of transit in the metro, One Hanover connects the established Dallas base with the high-growth areas of Plano and Frisco,” said Patrick Andal, Director, Asset Management, New York Life Real Estate Investors. “Accessibility, modern amenity packages, and flexible, high-finish spec suites are essential in meeting the needs of today’s workforce.”
Stream Realty Partners, a national commercial real estate firm offering an integrated platform of services, handles the third-party services for the property. The team includes Chase Lopez and Executive Vice President & Partner J.J. Leonard.
For more information, contact Stream Dallas at 214.267.0400.
About Stream Realty Partners
Stream Realty Partners is a national commercial real estate firm offering an integrated platform of leasing, investment and development services. This includes tenant and landlord representation, Legendary CX property management, capital markets, investment management and sales, construction, construction management, national program management, workplace strategies, strategic marketing, and dedicated research. The company is headquartered in Dallas with operations in core markets coast to coast. Since 1996, Stream has grown to more than 1,550 professionals and now completes annual transactions valued at more than $8.9 billion in office, industrial, retail, healthcare, land, and data center properties. For information, visit www.streamrealty.com and follow Stream on LinkedIn, Instagram, X and Facebook.
