Ledo Capital JV to Develop Austin-Area Industrial Park

San Marcos Business Park. Rendering courtesy of Stream Realty Partners

Ledo Capital Group and its joint venture partner St. Clair Commercial Real Estate have acquired 45.67 acres of industrial-zoned land in the Whisper South master-planned area of San Marcos, Texas.

At the site, the developers are planning the construction of San Marcos Business Park, a three-building industrial park totaling 663,460 square feet. The partners purchased the lot in a transaction brokered by Stream Realty Partners. The project will break ground in the fourth quarter of this year.

Project details

For the construction of the San Marcos Business Park, the developers are working with ARCO/Murray Design Build, which will provide architectural and contracting services. Kimley-Horn will assist with the project’s civil engineering. Upon completion, Stream will also market the facilities for ownership, leasing or build-to-suit uses.

READ ALSO: Industrial Subleasing Strategies

At full build-out, the San Marcos Business Park will consist of three distinct facilities. All three assets will have rear-load capabilities, 32- to 36-foot clear heights and ESFR fire sprinkler systems. The buildings will share secured truck court that includes space for outdoor and trailer storage, as well as heavy parking.

The properties’ specifics:

• Building A is a 204,460-square-foot, multi-tenant capable facility that directly faces Interstate 35
• Building B is an 84,000-square-foot free-standing building
• Building C, the largest in the park, is a 375,000-square-foot property with multi-tenant divisibility

With direct access to the Interstate-35, the Texas industrial campus will be located between Austin and San Antonio, 27 miles from the former and 45 miles from the latter. Additionally, the facility is within a day’s drive of Houston and Dallas.

Stream Realty Partners Senior Vice Presidents Kevin Cosgrove and Payton Rion brokered the transaction. Cosgrove, alongside Senior Vice President Adam Green will market the facility. Paul Wagner, a principal at ARCO/Murray Design Build, will oversee the project’s planning.

Austin’s strong industrial market

After its construction finishes, the site will be the latest installment in the Whisper South master-planned development. In June of 2022, Greystar broke ground on the second building of Whisper 35, a five-building, 500,000-square-foot project.

Greater Austin’s industrial market is off the heels of another record-setting year, with 11.6 million square feet of space in its pipeline, and 1.3 million square feet of positive net absorption, according to data from a fourth quarter 2022 report from CBRE. The flurry of investment, leasing and development activity is due in part to a large-scale manufacturing interest taking place around the city, particularly for semiconductors and electric vehicles, as well as corporate relocations.

In February, Freehill Development Co. broke ground on a 176,546 square-foot industrial complex in Georgetown, Texas. The company has an additional 1.1 million square feet of space under construction in central Texas, including in San Marcos.