KDC, Pillar Commercial to Build Dallas-Area Office Tower
The nine-story project joins a growing office campus.
KDC and Pillar Commercial have partnered to develop One Bethany North, a nine-story, 225,000-square-foot office building at the Watters Creek Office Park in Allen, Texas. A 3,500-square-foot restaurant is also planned as part of the development in the Dallas-Fort Worth Metroplex.
Dallas-based Pillar Commercial will lead marketing and leasing for One Bethany North. The speculative office building will be located on nearly 4 acres within the 17-acre, multi-phase corporate office park directly across from the Delta by Marriott Convention Center Hotel. It will be the third office building at the complex.
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The building will have 25,000-square-foot floor plates and will include a tenant lounge, conference facilities and fitness center. The property will feature an outdoor courtyard with pickleball courts, putting greens and seating. The building will be within walking distance of the Watters Creek mixed-use district with shops, restaurants, residences and a village green.
Allen Economic Development Corp. owns the site and is expected to provide an incentive package to launch construction. Allen EDC is also partnering with the development team to recruit tenants for the building.
Changes at Watters Creek Office Park
A joint venture of Pillar Commercial and Hall Capital, a private investment firm, paid $25.4 million to acquire One Bethany East from Kaizen Development Partners in February 2021, according to Yardi Matrix. The five-story, 120,000-square-foot office development was completed in 2018. The building has been the headquarters for the Credit Union of Texas since 2019. In March 2024, the credit union acquired the building from Pillar and Hall. Terms of the deal were not disclosed.
Other tenants in the building include Allen EDC, Pillar Commercial, GlassHive and Cyient Semiconductors.
In 2023, the Pillar and Hall partnership acquired One Bethany West, an eight-story, 190,000-square-foot office building, from Kaizen Development Partners for $59.4 million, according to Yardi Matrix. Tenants include Clear Title & Appraisal, Newline, Sealink International, Cope Equities and Hoar Construction.
KDC, Pillar part of Dallas trophy tower team
KDC, a Dallas-based national real estate development and investment firm, is working with Pillar Commercial as part of the development team of the $433 million Bank of America Tower at Parkside, a 30-story trophy office and mixed-use tower.
The Class AA building has been under construction at 1919 Woodall Rodgers Freeway in Dallas’s Uptown section since 2023, with completion expected next year. Pacific Elm Properties is the lead developer of the 500,000-square-foot tower. Bank of America will be the anchor tenant, leasing more than 238,000 square feet. When completed, it will be the tallest building in Uptown.
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