Pillar Commercial and Hall Capital are teaming up to develop a Class A office tower in Allen, Texas.
The project is called One Bethany North, which is set to feature more than 225,000 square feet of rentable space, with nine floors on a four-acre site.
The property in the Watters Creek business district features a courtyard concept, which will include pickleball courts, seating, and green space. Plus, other amenities include a detached garage, putting greens, a fitness center, conference areas, and a tenant lounge. The Delta by Marriott Convention Center Hotel will be just across the street from the Class A office.
Additionally, Pillar and Hall are planning to add 3,500 square feet of retail space to the development.
The Allen Economic Development Corporation owns the project space and is working on coming up with a “competitive incentive package” to start construction, according to Pillar. The construction costs are estimated to cost more than $100 million, as reported by The Dallas Morning News.
“Tenants are increasingly seeking Class A office buildings that not only offer walkability to shopping and dining destinations, but also are situated near the communities where employees live,” Dan Bowman, EDC executive director and CEO of Allen, said.
“One Bethany North is situated in the right location to help companies draw employees back to the office, and we are excited to work with Pillar Commercial and Hall Capital to bring this vision to reality.”
One Bethany North marks the third piece of real estate that the two firms have worked on in the past three years in Allen. The duo also bought One Bethany East and One Bethany West, taking up a combined roughly 320,000 RSF worth of Class A space, in separate acquisitions. Some major brands in the office properties include Netflix, Highland Residential, and Credit Union of Texas.
“We continue to be impressed with the strong tenant interest in both One Bethany East and West,” said Dillon Buhrkuhl, vice president of leasing at Pillar.
“Tenants are focused on providing their employees with a new and vibrant place to work. We believe One Bethany North will provide just what they are looking for.”