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 Allen Hotel and 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.