One Bethany West at Watters Creek in Allen, Texas secures inaugural tenant
JLL successfully negotiates new office lease with Highlands Residential Mortgage
DALLAS, February 10, 2020 – Highlands Residential Mortgage signed a 10-year lease at One Bethany West at Watters Creek, JLL announced today. The Dallas-based mortgage company agreed to a 25,735-square foot office lease at the soon-to-deliver Class A office property, located at 950 West Bethany Drive in Allen, Texas.
The building is the third of five planned Class A office projects in One Bethany at Watters Creek, joining One Bethany East and Netscout at One Bethany, and is slated for completion in early July. Highlands Residential Mortgage is expected to occupy the space in November.
“The Highlands Residential Mortgage team is looking forward to relocating our Corporate headquarters to the new One Bethany West building in Allen,” said Brian W. Bennett, President, Highlands Residential Mortgage. “We have experienced tremendous growth across the country over the last decade serving the home financing needs of our customers both locally and nationally. As we searched for the right long-term location, it was very important that we find a reputable commercial business partner and a great community for our dynamic team of employees. We strongly believe that the One Bethany West building with its amenities and close proximity to the Watters Creek shops, dining and convention center will make for an outstanding home as we continue our nationwide expansion efforts.”
JLL’s Blake Shipley and Chris Doggett represented the property ownership group, Kaizen Development Partners, in the lease negotiation. Mohr Partners’ Rob Pipkin represented the tenant.
“One Bethany West at Watters Creek will meaningfully contribute to the companies and people who strengthen our region’s robust economic engine and further highlights Allen as a location for corporate offices,” said Derrick Evers, Managing Partner/ Chief Executive Officer, Kaizen Development Partners. “With tremendous accessibility to a quality labor force and the eclectic blend of amenities and retail options onsite, One Bethany at Watters Creek has established itself as one of the premier office destinations in North Texas.”
One Bethany West will offer tenants and guests immediate access to the new Watters Creek Convention Center and Delta Hotels by Marriott Dallas Allen, which features the Stampede 66 from renowned celebrity Chef Stephan Pyles. The property is located across from Watters Creek at Montgomery Farms, which offers a variety of popular restaurants, retail and shopping options.
The office building offers on-site amenities including a tenant lounge, conference center, fitness center, men’s and women’s locker rooms with shower facilities, and a golf simulator.
Two additional development sites are currently available in One Bethany at Watters Creek for potential build-to-suits. The Allen Economic Development Corporation (AEDC) and the City of Allen have indicated they will support the recruitment of new office tenants to the district.
“We are thrilled to welcome Highlands Residential Mortgage to Allen and add them to the growing list of companies based in the Watters Creek District,” said Dan Bowman, Executive Director of the Allen Economic Development Corporation. “One Bethany West has experienced very strong leasing activity, on the heels of the same strong demand for the adjacent One Bethany East building, which is now fully leased.”
For information on leasing opportunities at One Bethany West or the available sites at One Bethany at Watters Creek, please contact Blake Shipley at +1 214 438 6118 or firstname.lastname@example.org, or Chris Doggett at +1 214 438 6390 or email@example.com.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Kaizen Development Partners
Kaizen Development Partners (KDP) is a Dallas-based commercial real estate development firm focused on high-quality office and mixed-use developments. KDP brings unencumbered creativity, marketplace knowledge and strategic vision to the built environment. The principals at KDP have developed over 2 million square feet of institutional quality projects valued in excess of $1 Billion, with a pipeline of future development projects of over $1 Billion. 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.