By Camelia Bulea, Associate Editor
The Round Rock IKEA store will be expanded by 54,000 square feet, which will bring the total store area to 306,900 square feet. Construction will begin this month, and the new project is expected to be completed by summer 2012.
The expansion project will add more to the self-serve furniture area and relocate customer service, according to the Austin Business Journal. Additionally, the expansion calls for a three-level parking deck. IKEA officials assert that the store will remain operational during construction.
In other news, GSL Welcome Group LLC, a Houston-based developer and acquisition group, is expanding its presence in the Austin area, with a third acquisition. GSL purchased the 54,865-square-foot Tuscany Technology Center Building located in Northeast Austin from Chicago-based McShane Development Corp.
The building, which sits on a 7.7-acre Technology Center, is currently occupied by Gila Corp., an Austin-based collections company. According to Austin Business Journal, the asking rent for this facility is estimated to be around $13.05 per square foot. The purchase represents GSL Welcome Group’s third acquisition in the Austin area, while the company already has more than 75 facilities in Texas.
As for the WTP4 news that is largely debated in Austin, the Austin City Council found that delaying the WTP4 plant for five or 10 years would cost $138 million or $206 million, respectively, according to Community Impact Newspaper. After new analysis, the construction of WTP4 may proceed as planned. Still, there are several issues, such as a seven-mile tunnel that would transfer water to the Spicewood Springs Shaft site.