ALLEN, Texas (August 4, 2017) – NETSCOUT SYSTEMS, INC.,(NASDAQ: NTCT), a leading technology provider, broke ground Wednesday morning on their new 145,000-square-foot office facility. The company will be leasing the Class A three-story building and relocating more than 500 employees into their regional research and development office, which is expected to open Summer 2018.
The project is being constructed in the Watters Creek area at Central Expressway and Bethany Drive in Allen. It is within walking distance of nearby restaurants and retail, as well as the city’s new hotel/convention center and One Bethany East, a 125,000-sqaure-foot luxury Class A office building.
Allen Mayor Steve Terrell welcomed the Company to the city of Allen, adding that he believes NETSCOUT will be a great fit in the community. “This area has almost every kind of housing you’d want within just a few miles —from single family to urban lifestyle living to townhomes. Add to that all the shopping, dining and hotel and convention space – it’s all you’d ever need,” he said. “It’s just an outstanding area to be in and we’re very happy they chose Allen, Texas.”
“We’re looking forward to being in a location where our employees are part of a community,” said Michael Szabados, Chief Operating Officer, NETSCOUT. “Watters Creek offers such a welcoming environment and the proximity of services and restaurants is unique. Plus, there’s a lot of new development and newcomers like ourselves, so that creates a very positive social environment.”
Following the Company’s relocation announcement in June, Szabados said that employees have been looking forward to the move and that many will be shortening their current commutes. The new facility is expected to be state-of-the-art and feature an outdoor courtyard, fitness center, cafeteria, and parking garage for exclusive use of their employees.
“They’re also very excited because they understand that this really shows the Company’s investment in their well-being and a commitment to staying here in Texas,” Szabados added. “We want to make sure that we have access to the talent pool in the area and we’re going to continue our focus on technology for the communications service provider industry.”
Allen Economic Development (AEDC) Executive Director, Dan Bowman shared his enthusiasm at the ceremony.
“The Economic Development Board is very excited about this type of Company,” he said of NETSCOUT. “It’s high-tech, focused on service assurance and cyber security with engineers and other professionals that will work and live in the area. We really feel like they’ve chosen the right site with the hotel/convention center and all the exciting additions here. I know that we’re going to have a very valuable partnership for many years to come.”
Kazien Development Partners is developing this facility, along with One Bethany East next door. Both projects also share the same architects and general contractor, BOKA Powell and Balfour Beatty, respectively. JLL represented NETSCOUT and Kaizen Development Partners on this transaction.
“It’s an honor for us to be here today, to celebrate the groundbreaking of NETSCOUT and to go into the next phase of the One Bethany area as a whole,” said Kaizen Development Partners CEO Derrick Evers. “The big thing we’re trying to do is build community. That’s what people and businesses are looking for—and it’s one thing we talked about with the city and the AEDC from the very beginning. They wanted to have a sense of place and a unified vision for this property and they’ve been very instrumental in executing this vision.”
Allen has proven itself as a premier location for businesses to relocate and expand as projects are taking place all over the city, with more than $1.6 billion in development breaking ground this year. This activity includes construction in the Watters Creek mixed-use district, including One Bethany East, The Convention Center at Watters Creek with attached four-star hotel, Delta Hotels by Marriott, and a 136-room ALOFT hotel. WatchGuard Video, the world’s largest manufacturer of law enforcement video systems, will move into their new $46 million corporate campus in 2018.
Other recent announcements include the $1 billion data center campus from CyrusOne, the $400 million TierPoint Data Center and a 135-acre, high-density mixed-use development from Hines along State Highway 121.
About Allen Economic Development Corporation
The Allen Economic Development Corporation (AEDC) is funded through a citywide half-cent sales tax and charged with facilitating company relocations and assisting the expansion of existing businesses, which creates jobs and generates additional tax revenue to the community. Today, Allen’s total ad valorem tax base exceeds $8.5 billion. To learn more, visit www.AllenEDC.com.
Eileen Gonzales, Marketing Director
Allen Economic Development Corporation
Phone: (972) 727-0228
NETSCOUT SYSTEMS, INC. (NASDAQ: NTCT) is a leading provider of business assurance – a powerful combination of service assurance, cybersecurity, and business intelligence solutions – for today’s most demanding service provider, enterprise and government networks. NETSCOUT’s Adaptive Service Intelligence (ASI) technology continuously monitors the service delivery environment to identify performance issues and provides insight into network-based security threats, helping teams to quickly resolve issues that can cause business disruptions or impact user experience. NETSCOUT delivers unmatched service visibility and protects the digital infrastructure that supports our connected world. To learn more, visit www.netscout.com or follow @NETSCOUT on Twitter, Facebook, or LinkedIn.
About Kaizen Development Partners
Kaizen Development Partners (KDP) is a commercial real estate developer specializing in office, mixed-use, and healthcare developments. KDP brings unencumbered creativity, marketplace knowledge and strategic vision to the built environment. Over the past five years alone, the principals at KDP have developed over 1.5 million square feet of institutional quality projects valued at approximately $630,000,000. KDP is rooted by senior-level principals committed to delivering extraordinary value and service through innovative thought leadership, effective market positioning, conservative risk management, and hands-on project management. For further information, visit www.kaizendp.com.