ALLEN, Texas, June 15, 2017 — NETSCOUT SYSTEMS, INC., (NASDAQ: NTCT), a leading technology provider, will be relocating their regional research and development office to One Bethany at Watters Creek in Allen, Texas in Summer 2018. The company, a leading provider of business assurance—a powerful combination of service assurance, cybersecurity and business intelligence solutions—will be leasing a new state-of-the-art, 145,000-square-foot office building from Kaizen Development Partners and relocating over 500 employees to their Allen facility. The Class A, three-story facility will feature an outdoor courtyard, fitness center and cafeteria, and parking garage for exclusive use of their employees.
“After extensive city searches, Allen, Texas offered the right location for our new facility. The location of the new site is within walking distance of the Watters Creek restaurant, hotel and shopping area off US Highway 75 at the southern border of Allen,” said Michael Szabados, NETSCOUT’s Chief Operating Officer. “The new building will be designed to take advantage of many of the latest trends in the workplace with a strong focus on overall employee wellness.”
“NETSCOUT isn’t only investing in a quality facility — they are bringing a highly-skilled workforce to the Allen community,” said Allen Mayor Stephen Terrell. “When their employees choose to live, shop or dine in Allen, our entire community will benefit.”
This is the fourth major announcement in the Watters Creek area in the last six months, located just west of Central Expressway and Bethany Drive in Allen. Other projects include: Kaizen Development Partners’ One Bethany East, a 125,000-square-foot luxury Class A office building scheduled for completion in Spring 2018; the Convention Center at Watters Creek a $91 million convention center and attached four-star hotel, Delta Hotels by Marriott to open in the Fall of 2018; and a 136-room ALOFT hotel, which will also break ground in Summer 2017.
The Allen site competed with over five communities in the Dallas/Fort Worth area and was selected because its visibility, affordability and exclusiveness as one of the few areas where an office tenant has direct walkability to an upscale mixed-use center. The Watters Creek district in Allen provides the type of amenities and green space that employers are eager to surround themselves with.
“Direct access to shopping, dining and urban lofts makes Watters Creek highly attractive to office users,” says Allen Economic Development Executive Director, Dan Bowman. “There are very few competing Collin County sites where office employees can truly walk directly to a mixed-use center with the caliber of Watters Creek.”
The project is being developed within Kaizen Development Partners’ newly branded corporate office campus known as One Bethany at Watters Creek. “With so many great developers and landlords who competed for this opportunity, we are truly humbled to have NETSCOUT place their trust in Kaizen Development Partners to deliver their new regional home,” says Kaizen Development Partners’ COO and co-founder, Nick Summerville. “The AEDC and City of Allen’s staunchly pro-business attitude, combined with NETSCOUT’s commitment to One Bethany at Watters Creek, further fuels our longstanding thesis about Allen being the next major corporate office submarket.” The first phase, One Bethany East, is currently under construction. One Bethany at Watters Creek is a planned 17-acre corporate office campus that is expected to contain up to 1 million square feet of high quality office space at full build out. Additional office development sites are available and capable of accommodating 660,000 square feet of single or multi-tenant corporate users.
About Allen Economic Development Corporation
The Allen Economic Development Corporation (AEDC) is funded through a citywide half-cent sales tax and charged with facilitating company relocations and assisting the expansion of existing businesses, which creates jobs and generates additional tax revenue to the community. Today, Allen’s total ad valorem tax base exceeds $8.5 billion. Recently, the AEDC was instrumental in recruiting KONE Elevators, MonkeySports and CVE Technology to locate offices in Allen. To learn more, visit www.AllenEDC.com.
About Kaizen Development Partners
Kaizen Development Partners (KDP) is a commercial real estate developer specializing in office, mixed- use, and healthcare developments. KDP brings unencumbered creativity, marketplace knowledge and strategic vision to the built environment. Over the past five years alone, the principals at KDP have developed over 1.5 million square feet of institutional quality projects valued at approximately $630,000,000. KDP is rooted by senior-level principals committed to delivering extraordinary value and service through innovative thought leadership, effective market positioning, conservative risk management, and hands-on project management. For further information, visit www.kaizendp.com.
NETSCOUT SYSTEMS, INC. (NASDAQ: NTCT) is a leading provider of business assurance – a powerful combination of service assurance, cybersecurity, and business intelligence solutions – for today’s most demanding service provider, enterprise and government networks. NETSCOUT’s Adaptive Service Intelligence (ASI) technology continuously monitors the service delivery environment to identify performance issues and provides insight into network-based security threats, helping teams to quickly resolve issues that can cause business disruptions or impact user experience. NETSCOUT delivers unmatched service visibility and protects the digital infrastructure that supports our connected world. To learn more, visit www.netscout.com or follow @NETSCOUT on Twitter, Facebook, or LinkedIn.
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SOURCE Allen Economic Development Corporation