Bethany Center in Allen has been sold for an undisclosed amount.
Bethany Center, a 10,000 SF retail center located in Allen at the northwest corner of Bethany Blvd. and Hwy. 5, has been sold for an undisclosed amount. It was sold through a partnership controlled by real estate developers Roger Gault of Gault Co. and Robert Gunby of RTG Capital LLC. Sean Byrne of The Byrne Company represented the Seller and Jose Thankachan of Beam Real Estate represented the Purchaser.
The troubled retail strip was only 30 percent leased when purchased in 2012, and has been completely remodeled. Major tenants are Royal Chopstix and Lucky Paws Pet Lodge.
Roger Gault of Gault Co. has been a developer in the Dallas area for more than 25 years. RTG Capital has been in business since 2009 and is headed by Robert T. Gunby.
Gault and Gunby have partnered on multiple transactions, including the recent purchase from Costco of 5.2 acres of land at the North Dallas Tollway and Park in Plano for the development of a 16,000 square-foot retail center. In addition to the retail center, two pad sites have been platted, and one has already been sold to an undisclosed buyer. The other pad site will be available for ground lease or future build-to-suit. The project is currently 70% pre-leased and construction began last month. The project architect is NCA Architects. Mitch Traub of The Retail Connection is providing leasing services and Stillwater National Bank is providing the construction financing.