DALLAS – October 28, 2026 – Stream Realty Partners, a national commercial real estate firm offering an integrated platform of services, has secured five leases totaling 177,743 square feet at Sixteen Forty, a 208,691-square-foot office property located at 1640 Dallas Parkway in Plano, Texas. The leasing activity, completed over the past 18 months, has brought the property to 85% leased and prompted a multimillion-dollar capital renovation that will transform the building into a modern, multi-tenant office destination.
Originally developed in 2009 as a single-tenant, build-to-suit office property, the building is undergoing a significant transformation under the ownership of Orion Properties. Now rebranded as Sixteen Forty, the property is transitioning to a multi-tenant environment, with renovations underway and expected to be completed by the end of 2027.
The leasing activity includes a 23,224-square-foot new lease with Centre for Neuro Skills, a 62,132-square-foot lease renewal and restructuring with an undisclosed health services and insurance corporation, and a 19,149-square-foot new lease with Concentra Health Services. Most recently, an undisclosed financial services company signed a new 56,532-square-foot lease, and Hyundai Motor America signed a new 16,706-square-foot lease, further strengthening the property’s tenant roster.
Stream Executive Vice President & Partner Tim Terrell and Senior Vice President Chase Lopez lead leasing efforts at Sixteen Forty on behalf of Orion Properties. Stream Managing Director Tyler Maner represented Centre for Neuro Skills, while Searcy Ferguson of CBRE represented Concentra Health Services. Don Yahn of Cushman & Wakefield represented Hyundai Motor America.
“Securing five leases in 18 months reflects the strong demand for well-located office space in Plano’s Upper Tollway submarket,” said Terrell. “Sixteen Forty’s strategic location, combined with Orion Properties’ vision for the future of the asset, has been a key driver of this leasing momentum. We’re excited to build on that success as the property enters its next chapter.”
The multimillion-dollar capital renovation will introduce a range of improvements designed to enhance the tenant experience, including a modernized two-story atrium lobby, a new tenant lounge featuring a planned grab-and-go food concept branded The Market at Sixteen Forty, a conference facility with multiple meeting rooms and state-of-the-art technology, EV charging stations, and a fitness center with premium equipment, showers, and locker rooms. The redesigned lobby will also feature elevated finishes and a concierge-style courtesy guard, enhancing the property’s arrival experience.
“Our strategy at Sixteen Forty has been to make disciplined investments that strengthen the property’s competitive position and support long-term value creation,” said Steve Palmesi, Investment Manager at Orion Properties. “The retention and attraction of investment-grade tenants reinforces our conviction in the asset and our vision for Sixteen Forty as a Class A destination for top-tier tenants.”
Located at the northeast corner of the Dallas North Tollway and President George Bush Turnpike in Plano’s Upper Tollway submarket, Sixteen Forty offers convenient access to major transportation corridors, established residential communities, retail and entertainment destinations, and mixed-use developments. The property’s strategic location positions it to attract companies seeking a well-connected suburban office environment.
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 & project management; manufacturing, food & beverage, and distribution; workplace strategy; 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 $11.5 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.
