Image Microsystems Develops 100,000SF Recycling Plant; KBS REIT Acquires Las Cimas IV
- Nov 09, 2011
The Palm Harbor facility in Kyle was recently bought by Image Microsystems Inc., which will develop a recycling plant in this manufacturing facility. The company bought the plant with the goal of recycling the e-waste plastic. Although the acquisition price was not disclosed, company officials said the company had invested $5 million in upgrades to the building and the necessary equipment, according to Austin Business Journal.
The company is planning to open five recycling plants of this kind,with the 100,000-square-foot Kyle plant as the first. According to the chief executive officer of the company, Microsystems is planning a $30 million investment in facilities located in California, Florida, Michigan and Pennsylvania.
Another acquisition in Austin was the purchase of Las Cimas IV, located in Southwest Austin, by KBS Real Estate Investment Trust III. Austin Business Journal reports that the 138,008-square-foot office building cost KBS REIT III $35.9 million, in addition to closing costs. Las Cimas IV is just eight miles from downtown, which made it very appealing for the buyer, as the company sought a well-located property in Austin.
One of Austin’s biggest office transactions this year was also signed by KBS REIT III, when the company bought the Domain Gateway, a five-story office building totaling 173,962 square feet. With the acquisition of Las Cimas IV, KBS-affiliated companies now own five properties in Austin. The other four properties are Domain Gateway, SouthPark Commerce Center, SouthTech Business Center and Travis Oaks, which totals 930,350 square feet of office space and residential space.
In other news, Pflugerville will be home to the first 100 percent renewable energy-powered data center in the U.S. The $210 million data center represents an important investment for the Pflugerville community, as it is expected to add 130 new jobs over the next 10 years. Construction on the data center campus, which will be formed by five buildings totaling 600,000 square feet, is expected to begin in the first half of 2012.
Photo credits: http://www.lascimas4.com