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News – Austin

* This news feed is generated through NewsTalk Texas, provided by the Real Estate Center at Texas A&M University

​​HAYS COUNTY – ​A $225.8 million water supply project is set to begin in 2018 on a 95-mile pipeline to pump groundwater from the Carrizo-Wilcox Aquifer in Caldwell County.

Buda, Kyle, San Marcos, and other communities will receive an additional 13 million gallons of water per day beginning in 2023.

The Alliance Regional Water Authority (ARWA) conceived the plan for a pipeline, and the cost will be shared by Hays County’s three largest cities, the Canyon Regional Water Authority, and with a loan through the Texas Water Development Board’s bond program.

The ARWA has released a request for qualifications for a program management firm to oversee the $213.4 million, Phase 1B development. The RFQ is due by Dec. 21.

The first portion of the project, Phase 1A, will connect Buda’s and Kyle’s water systems at a cost of $12.4 million. Construction will run ​through 2019.

​​​​​​AUSTIN – The Texas Association of Builders installed its 2018 directors and senior officers on Nov. 17.

They are:

  • President Justin MacDonald, MacDonald Companies, Kerrville;
  • First Vice President Robert Wood, Custom Homes by Robert Wood, Lubbock;
  • Vice President/Secretary Randy Bowling, Tropicana Homes, El Paso;
  • Treasurer Brett Martin, Tilson Home Corp., Houston; and 
  • Immediate Past President Rick McGuire, McGuire Builders Inc., Lubbock. 

The directors and senior officers are responsible for the member programs, representations, and education of the association.

​​​​​IRVING – ​​Canal Centre Investors LLC has acquired Canal Centre, a ten-story, 237,894-sf office tower at 400 E. Las Colinas Blvd.

​The building, last appraised for $32.6 million, was 90 percent leased. Tenants include A10 Capital Power Line Services, Parallon Workforce Management, and Volkswagen. 

The property includes​ an adjacent six-story parking garage. 

Sperry Van Ne​ss represented the buyer. YH Professionals secured equity from Hong Kong and Honolulu. CBRE represented the sellers, Libitzky Property Companies and Sunwest Real Estate Group.

​​​​​​​​​​​​HOUSTON –​​ Industrial sales are up 127 percent since last year, according to a November report by NAI Partners.

So far this year, $984 million in industrial sales have been recorded. ​Institutional investors have accounted for 38 percent of the deals. Twelve percent of the buyers were REITs, and 10 percent were foreign investors.

NAI reports the​ largest transaction of the year was Pure Industrial REIT’s $63.5 million purchase of the one million-sf IKEA Distribution Center in Baytown.

Around 6.4 million sf has been absorbed year-to-date, and the current vacancy rate is 5.5 percent.