ALLEN, Texas (December 13, 2018) – The Allen Economic Development Corporation (AEDC) has signed a lease to occupy 5,000 square feet of office space in One Bethany East at Watters Creek, the group announced Wednesday. With their move, which is expected to take place by Spring 2018, the AEDC is capitalizing on the synergy currently taking place within the new office park being developed by Kaizen Development Partners, located at Bethany Drive, just west of U.S. Highway 75 in Allen.
“We are excited to welcome the AEDC to One Bethany East,” said Lee White, General Counsel and Managing Partner of Kaizen Development Partners. “Having the AEDC as a tenant not only exhibits our continued partnership together, but has a secondary benefit to our leasing efforts because it allows us to showcase One Bethany at Watters Creek to all corporate users considering a move to the City of Allen.”
One Bethany East is a five-story 125,000-square-foot, Class A office property that will include a conference center, training room, tenant lounge, fitness center and large, 570-space structured parking garage. It’s being built within One Bethany at Watters Creek, a 17-acre, multi-phase, corporate office campus that is expected to contain up to 1 million square feet of high quality office space at full build-out. Additional office development sites are available and capable of accommodating 660,000 square feet of single or multi-tenant corporate users.
“The AEDC has been a catalyst behind the new projects in the business park, including One Bethany East, the Convention Center and the new NETSCOUT facility,” AEDC Board president Michael Schaefer says. “We’re excited to show further commitment to the park by locating our office in the middle of these new developments.”
One Bethany East will also serve as the new headquarters for BossFight Entertainment, a renowned video game development company that recently signed a 13,500 square-foot lease within the building. Within the campus, the technology company NETSCOUT Systems Inc, will open their new 145,000 square-foot headquarters in Summer 2018. The new four-star Delta Hotels by Marriott and Watters Creek Convention Center is located across the street and will open late 2018.
“One Bethany East’s direct access to shopping, dining and urban lofts in Watters Creek makes it highly attractive to office users,” AEDC Director Dan Bowman explains. “There are very few competing Collin County sites where office employees can truly walk directly to a mixed-use center.”
About the 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. The AEDC was instrumental in assisting over $1.6 billion in announced projects this year, including the new Delta Hotels by Marriot and Watters Creek Convention Center, a $91 million, four-star hotel with 90,000 square feet of convention space and the new 340,000 square-foot data center from CyrusOne, which is the first of a three-phase data center campus totaling more than 100 megawatts of power. All these projects broke ground in 2017.
For more information, visit www.AllenEDC.com.
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 2 million square feet of institutional quality projects valued at approximately $720,000,000. 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.
Allen EDC Contact