NETSCOUT Breaks Ground on 145,000 SF Office Building in Allen, Texas

 

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.

Media Inquiries:

Eileen Gonzales, Marketing Director
Allen Economic Development Corporation
Phone: (972) 727-0228
egonzales@allenedc.com

About NETSCOUT

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.

NETSCOUT Relocation Moves Over 500 Employees to New Office Building in Allen, Texas

 

ALLEN, Texas – NETSCOUT SYSTEMS, INC.,(NASDAQ: NTCT), a leading technology provider, will be relocating their regional research and development office to One Bethany at Watters Creek in Allen, Texas in Summer 2018.  The company, a leading provider of business assurance—a powerful combination of service assurance, cybersecurity and business intelligence solutions—will be leasing a new state-of-the-art, 145,000-square-foot office building from Kaizen Development Partners and relocating over 500 employees to their Allen facility. The Class A, three-story facility will feature an outdoor courtyard, fitness center and cafeteria, and parking garage for exclusive use of their employees.

“After extensive city searches, Allen, Texas offered the right location for our new facility. The location of the new site is within walking distance of the Watters Creek restaurant, hotel, and shopping area off US Highway 75 at the southern border of Allen,” said Michael Szabados, NETSCOUT’s Chief Operating Officer. “The new building will be designed to take advantage of many of the latest trends in the workplace with a strong focus on overall employee wellness.”

“NETSCOUT isn’t only investing in a quality facility — they are bringing a highly-skilled workforce to the Allen community,” said Allen Mayor Stephen Terrell. “When their employees choose to live, shop or dine in Allen, our entire community will benefit.”

This is the fourth major announcement in the Watters Creek district in the last six months, located just west of Central Expressway and Bethany Drive in Allen. Other projects include: Kaizen Development Partners’ One Bethany East, a 125,000-square-foot luxury Class A office building scheduled to open in Spring 2018; the Convention Center at Watters Creek; a $91 million convention center and attached four-star hotel, Delta Hotels by Marriott, to open in the Fall of 2018; and a 136-room ALOFT hotel, which will also break ground in Summer 2017.

The Allen site competed with over five communities in the Dallas/Fort Worth area and was selected because its visibility, affordability, and exclusiveness as one of the few areas where an office tenant has direct walkability to an upscale mixed-use center.  The Watters Creek district in Allen provides the type of amenities and green space that employers are eager to surround themselves with.

“Direct access to shopping, dining and urban lofts makes Watters Creek highly attractive to office users,” says Allen Economic Development Executive Director, Dan Bowman. “There are very few competing Collin County sites where office employees can truly walk directly to a mixed-use center with the caliber of Watters Creek.”

The project is being developed within Kaizen Development Partners’ newly branded corporate office campus known as One Bethany at Watters Creek. “With so many great developers and landlords who competed for this opportunity, we are truly humbled to have NETSCOUT place their trust in Kaizen Development Partners to deliver their new regional home,” says Kaizen Development Partners’ COO and co-founder, Nick Summerville.  “The AEDC and City of Allen’s staunchly pro-business attitude, combined with NETSCOUT’s commitment to One Bethany at Watters Creek, further fuels our longstanding thesis about Allen being the next major corporate office submarket.”  The first phase, One Bethany East, is currently under construction.  One Bethany at Watters Creek is a planned 17-acre 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.

 

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. Recently, the AEDC was instrumental in recruiting KONE Elevators, MonkeySports and CVE Technology to locate offices in Allen. To learn more, visit AllenEDC.com.

Media Inquiries:

Eileen Gonzales, Marketing Director
Allen Economic Development Corporation
Phone: (972) 727-0228
egonzales@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 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.

About NETSCOUT

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.

Kaizen Development Partners breaks ground on upscale office park in Allen

Kaizen Development Partners broke ground on phase one of its multi-phase, upscale office park in Allen, Texas known as One Bethany at Watters Creek on March 30, 2017.  The project is located at the northwest corner of Bethany Drive and Watters Creek Boulevard within walking distance of the amenity-rich Watters Creek mixed- use development and the planned Watters Creek Convention Center. “We recognize the growing demands by users of space trending north, so we are excited to respond with something fresh and new to the City of Allen” says Kaizen Development Partners CEO, Derrick Evers.

Designed by BOKA Powell, the initial phase of One Bethany at Watters Creek includes a 125,000-square foot Class A office building with a 570-space parking garage. The office building will be fully equipped with a conference center, training room, tenant lounge and fitness center. The overall development plans for One Bethany at Watters Creek call for a mix of multi-tenant and single-tenant build-to-suit Class A office buildings on the office park’s remaining 14 acres.

“Tenants have been demanding a Class A office building with proximity to a walkable, mixed-use project like Watters Creek. One Bethany at Watters Creek will deliver on all these aspects,” says Allen Economic Development Executive Director, Dan Bowman. The Allen Economic Development Corporation has been instrumental in this project and will continue to support tenants in locating to the building. One Bethany is planned to include a second phase with up to an additional 250,000-square feet, allowing the developer to accommodate larger tenants in a campus environment.

Construction is being performed by Balfour Beatty Construction and slated for completion in the first quarter of 2018. JLL’s Daryl Mullin, Chris Doggett and Blake Shipley will lead the leasing and marketing efforts. The team has already secured soft commitments for a significant portion of the building, including a well-known local eatery to be located on the ground floor with outdoor patio space. JLL will also handle property management for the building.

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.

 

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. The AEDC was instrumental in recruiting KONE and assisting three technology companies to break ground in recent months: WatchGurad Video, technology pioneer and market leader for law enforcement video systems and evidence-management software, IntelliEPI, a silicon wafer manufacturer and Tier Point, a $400M data center project. http://allenedc.com

 

About JLL

JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. JLL is a Fortune 500 company with, as of December 31, 2015, revenue of $6.0 billion and fee revenue of

$5.2 billion, more than 280 corporate offices, operations in over 80 countries and a global workforce of more than 70,000. On behalf of its clients, the company provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. As of September 30, 2016, its investment management business, LaSalle Investment Management, has $59.7 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.

One Bethany at Watters Creek Begins Construction

The five-story, 125,000-square-foot office building, called One Bethany at Watters Creek, will help serve a growing office corridor in the northern part of the region along Central Expressway, Derrick Evers, CEO and managing partner of Dallas-based Kaizen Development Partners, told the Dallas Business Journal.

Read more at the Dallas Business Journal.

Development agreement approved for Allen’s $85 million Watters Creek Hotel, Convention Center

The Allen City Council has approved a development agreement with TCH Altera, LLC, for the construction of The Convention Center at Watters Creek, an $85 million, full-service four-star facility. The convention hotel will contain 290 guest rooms, a 64,500 SF convention center and a 1,000-car parking garage on seven acres at Bethany Drive and North Central Expressway, adjacent to Allen’s premier Watters Creek mixed-use center.

Projected to open in January 2017, the center will offer the largest convention and exhibition space among the north Dallas suburbs and compares to DFW’s most significant centers, including the Gaylord, Hilton Anatole and the Sheraton Dallas Hotel, according to a study by HVS.

“This convention center is truly a unique asset for north Texas,” said Allen Mayor Stephen Terrell. “The sheer size of the convention space opens the door for significant conferences and propels Allen to a whole new level as a destination city for business and tourism.”

Terrell said the HVS study estimates venue revenue from the convention center will reach $3.6 million annually by its fourth full year of operation.

The multi-entity agreement provides for the City, Allen Economic Development Corporation (AEDC) and Allen Community Development Corporation (ACDC) to jointly contribute $12.3 million toward the capital investment in the project and to provide additional operational support over time. The AEDC also will contribute the land, which it has owned since the 1990s. TCH Altera has arranged construction financing and anticipates breaking ground by the end of this summer.

According to Allen officials, the convention center is being developed largely in response to Allen’s explosive corporate office and retail growth that continues to drive demand for larger business and recreational events. This strong interest from corporate relocations also drove the recent announcement of Peloton Commercial Real Estate’s Watters Creek Office Park, which will be built adjacent to the convention center with up to 860,000 SF of new office space.

“With the relocation of corporate tenants like KONE Elevators, Allen is quickly becoming a Class-A office market,” said AEDC Executive Director Dan Bowman. “This convention center and the adjacent Watters Creek mixed-use destination provide amenities that are critical for these corporate tenants.”

According to Bowman, developer TCH Altera brings extensive experience with a wide range of notable hotels, including the Mandarin Oriental in Las Vegas, Nev., The Knickerbocker in Manhattan’s Time Square, and the recent redevelopment of The Fairmont Acapulco Princess, Acapulco, Mexico.

“We couldn’t be more pleased with the commitment to this project by Allen officials,” said TCH Altera Principal Tom Hendrick. “We view this as a long-term partnership with the city that will build on the area’s momentum for attracting visitors and tourism.”

“This is a real game-changer,” said Karen Cromwell, Director of the Allen Convention & Visitors Bureau. “The new convention hotel will compete on a regional level with major venues such as the Frisco Embassy Suites that offer large combined meeting and exhibit space.”

5G Studio Collaborative has been selected for architectural design. Plano-based Aimbridge Hospitality has been chosen to manage the hotel and has a wealth of experience working with cities for management of convention center properties. Aimbridge currently manages over 270 hotels in 38 states and the Caribbean and is the second largest independent hotel management firm in the country with an impressive team of veteran hoteliers.


ABOUT TCH ALTERA LLC

TCH Altera, LLC, is a privately held development joint venture consortium specializing in luxury hospitality projects. The team has developed more than 100 projects valued at more than $3 billion over the past 30 years. The principals bring extensive experience in hotel feasibility analysis, financing and development, as well as Public Private Partnerships with municipalities. http://tchaltera.com

ABOUT AIMBRIDGE HOSPITALITY

Aimbridge Hospitality is the nation’s second largest independent hotel investment and management firm with a proven track record for delivering superior returns for its strategic partners in a variety of markets and economic cycles. Aimbridge provides management, asset management, development, renovation and consulting services. Based in Dallas, Texas and with development offices in Chicago, Dallas and Puerto Rico, Aimbridge currently owns and/or manages over 270 upscale, independent and branded hotels with over 36,000 rooms across the United States and the Caribbean, including such affiliations as Marriott, Hilton, Embassy Suites, Doubletree, Hilton Garden Inn, Hampton Inn & Suites, Aloft, Hyatt, Wyndham, Choice Hotels and the Phoenix Inn Suites chain of hotels.www.aimbridgehospitality.com

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. Recently, the AEDC was instrumental in recruiting KONE Elevators, MonkeySports and CVE Technology to locate offices in Allen.

ABOUT ALLEN CONVENTION & VISITORS BUREAU

The Allen Convention & Visitors Bureau (ACVB) is tasked with marketing Allen as a destination for conventions, events and tourism. ACVB has been instrumental in bringing meetings and events to Allen. Due in part to their efforts, spending on travel in Allen has increased from $40 million in 2002 to $151 million in 2013. The ACVB is funded through Hotel Occupancy Tax revenue, from which the City has pledged $10 million over a 12-year period toward the management operations of The Convention Center at Watters Creek. http://www.visitAllenTexas.com

ABOUT ALLEN COMMUNITY DEVELOPMENT CORPORATION

The Allen Community Development Corporation (ACDC) is funded through a citywide half-cent sales tax and is charged with overseeing the funding for land, buildings, equipment and improvements which are suitable for professional and amateur athletics, entertainment and tourism, parks and public spaces, transportation and other projects which promote new or expanded business enterprises.