Pillar Commercial & Hall Capital Plan Class A Office Development in Allen, TX

A new nine-story Class A office tower, named One Bethany North, is set to rise in the Watters Creek business district of Allen. The project is a collaboration between Allen-based Pillar Commercial and Oklahoma's Hall Capital. The development will span 225,000 square feet and will be located at 701 S. Watters Road, directly across from the Delta by Marriott Convention Center Hotel.

Strategic Location and Community Collaboration

The Allen Economic Development Corporation (EDC), which owns the four-acre site, is actively involved in the project, working on an incentive package to jumpstart construction. The new tower is expected to contribute to Allen’s growing appeal as a hub for corporate offices.

Amenities and Construction Timeline

One Bethany North will offer a variety of amenities designed to enhance employee experience, including outdoor seating, pickleball courts, putting greens, a fitness center, and 3,500 square feet of retail space. The developers plan to finalize construction details over the coming months, with construction projected to take between 18 to 24 months and costs exceeding $100 million.

Continued Growth and Previous Developments

This announcement follows the recent sale of One Bethany East, another high-end office property in Allen, which was acquired by the Credit Union of Texas. Pillar Commercial and Hall Capital had also purchased One Bethany West, a nearby eight-story office building, last year. The successful track record of these developments highlights Allen’s growing importance as a corporate destination.

Market and Leasing Strategy

Pillar Commercial will spearhead the marketing and leasing efforts for One Bethany North. The Allen EDC is prepared to offer competitive incentives to attract tenants, similar to those provided to companies like NetScout and Onsemi, who have recently relocated their corporate offices to Allen. The tower's strategic location near shopping, dining, and residential areas is expected to appeal to businesses looking to bring employees back to the office.