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Pillar and Hall Acquire One Bethany East
In a joint venture partnership, Pillar Commercial and Hall Capital recently acquired the 120,170-rentable-square-foot office building, One Bethany East in Allen. Pillar Commercial will relocate its corporate office from Preston Center to One Bethany East in the second quarter of 2021.
The property opened in 2018 and is adjacent to the Watters Creek Convention Center and Delta Hotel by Marriott. It is also across the street from the Watters Creek at Montgomery Farms mixed-use development.
“One Bethany East is a premier class-A office project with strong tenancy,” said Manny Ybarra, founder and CEO of Pillar Commercial. “It is representative of the city of Allen’s impressive work to grow its corporate tax base with high-quality office and mixed-use developments.”
Pillar Commercial completed the acquisition through Pillar Real Estate Fund I (PREF I), a fully discretionary investment vehicle focused on Texas office and industrial properties. One Bethany East is the fund’s fourth investment.
- ◦Acquisition
