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Allen office project hits the market as commercial property listings grow

One Bethany East building is in Allen’s Watters Creek development near U.S. 75.

A developer that’s just finishing up a new Allen office building is putting the property next door up for sale.

Kaizen Development is completing work on its One Bethany West office tower in Allen’s Watters Creek development just west of U.S. Highway 75. The high-rise is more than 40% leased to tenants including Highlands Residential Mortgage and Newline Interactive Inc.

Now Kaizen Development’s One Bethany East building on the same block is up for grabs.

Commercial property firm JLL is marketing the two-year-old office building, which is more than 80% leased with tenants including Credit Union of Texas, Verado Energy and Boss Fight Entertainment.

The five-story, 120,000-square-foot office building is next to Allen’s Watters Creek convention center and the Watters Creek mixed-use retail and residential center.

One Bethany East is the latest North Texas office property to hit the market in the last few weeks.

Real estate brokers say that owners are testing the water to sell commercial properties after sitting out the market in the early days of the COVID-19 pandemic.

Steve Brown, Real Estate Editor. Steve covers commercial and residential real estate in Dallas-Fort Worth.

stevebrown@dallasnews.com @SteveBrownDMN
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