Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

Enter the "Deal room" for exclusive documents related to this property.

I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key Facts

Year Built 2018
Building Area
Land Area

Property Description

JLL is pleased to present the opportunity to acquire One Bethany East in Allen, TX. The five-story Class A office building was constructed in 2018 and is connected to a 584-space, four-level structured parking garage. The property is located within the One Bethany at Watters Creek office park in the rapidly emerging Allen/McKinney submarket. It is 83% leased and will be sold based on a 95% leased building.

The seller is working several leases and will escrow funds (five years of cash flow and operating costs plus all leasing costs) to guarantee the buyer a 95% leased building the day of closing. The building currently has a weighted average lease term of 9.6 years. One Bethany East benefits from its superior location along Central Expressway (US-75), directly across from the recently-opened Allen Convention Center and the mixed-use Watters Creek at Montgomery Farms development.

Investment Highlights

  • 120,170 SF Allen Class A office building built in 2018
    • +/-26,000 sf floor plates
    • 10’ floor to ceiling glass
    • 18’ slab to slab clearance on floor 1
    • 15’ slab to slab clearance on floors 2-5
  • Superior on-site amenities including an exceptional tenant lounge, conference center and fitness center complete with luxury Men’s and Women’s locker rooms
  • Exceptional access to Central Expressway US-75 and proximate to Sam Rayburn Tollway (SH-121)
  • Diversified tenant roster with average remaining term of 9.6 years
  • Apart of the One Bethany at Waters Creek office park comprising of three completed buildings (475k SF) with the ability to add two more totaling 1M square feet
  • Short walking distance to the highly successful Watters Creek at Montgomery Farms mixed-use development offering numerous dining and retail options; located in the affluent community of Allen feeding into one of the top rated school districts in the state
  • Directly adjacent to the recently opened, $91 million Watters Creek Convention Center and Delta Hotel by Marriott which includes Stephan Pyles’ acclaimed Stampede 66 restaurant
  • Weighted average in-place rents starting at $24.19 NNN with most recent leases executed at $26.00 NNN
Last Updated Date: 01 Oct 2020
Jack Crews
Jack Crews
Senior Managing Director, Capital Markets
Parker McCormack
Parker McCormack
Director, Capital Markets
License details
TX-686138

There was an error submitting your request. Please try again, or submit you inquiry here.

 

PRIVACY NOTICE

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.

+63282312281
Last Updated Date: 01 Oct 2020

Do you have any questions?  Visit our FAQ page

JLL  financing

JLL can help you finance and manage your portfolio.
Email us today to see how we can help achieve your ambitions.