GSMP, Majestic Realty Announce Large-Scale Industrial Spec Facilities in San Marcos

Projects
Oct 05, 2022
Staff Reports

SAN MARCOS­, Texas – Majestic Realty, the nation’s largest privately-held development company, will build one of the largest speculative facilities in the Texas Innovation Corridor with an 800,000 square foot project in San Marcos.

The speculative or “spec” shell buildings will be built near Centerpoint Road and South Old Bastrop Highway. The space will be designated for light manufacturing, office space, warehouse, showroom, or research and development uses. Construction of the project is expected to begin by April 2024, with the first phase of construction featuring two buildings totaling 200,000 square feet.

"San Marcos continues to be one of the fastest-growing communities in the country, which solidified our need to invest here," said Al Sorrels, senior vice president at Majestic Realty. " We look forward to meeting demand from the region’s employers for expanded space and help develop the facilities that are needed in Hays County.”

The announcement became official during the Tuesday, September 20, San Marcos City Council meeting, when the Council approved a performance-based grant agreement with the company. Hays County also entered into a performance-based agreement with the company during a Commissioners Court meeting on that day.

“We’re witnessing an unmatched amount of interest in the Texas Innovation Corridor, but our biggest issue continues to be available building inventory,” said Jason Giulietti, president of the Greater San Marcos Partnership (GSMP). “In addition to bringing large, much-needed spaces online in San Marcos, speculative developers like Majestic Realty are continuing to lead the way while also facilitating the quality growth of our communities.”

This location is the marked the ninth announcement in the Texas Innovation Corridor for fiscal year 2022, which began October 1, 2021, and ran through September 30, 2022. The announcements resulted in $2 billion in new capital investment in Hays and Caldwell Counties, as well as more than 2,500 projected new jobs, more than 4 million square feet of industrial space and more than $100 million in new tax revenues.

In addition to the fiscal year 2022 wins, this new speculative space development joins notable recent speculative space projects coming online such as Buda Midway in Buda, Bearden Investments and Live Oak in San Marcos, and Northpoint Development in Kyle.

“What we hear from both our local companies and the businesses seeking to come to our county is that they need more facility space to expand their operations,” said Ruben Becerra, Hays County Judge. “Developments like this come online because of our county’s continued record of business growth and success. We’re proud to have developers like Majestic Realty help the companies of Hays County grow and develop into stronger, more prosperous businesses.”

"Companies with good-paying jobs require spacious facilities where they can succeed," said Jane Hughson, mayor for the City of San Marcos. "We welcome Majestic Realty to San Marcos, as well as the future tenants of these buildings which will enhance our economy and create new jobs."

 

About the Greater San Marcos Partnership

The Greater San Marcos Partnership (GSMP) is the 501c6 regional economic development organization serving the city of San Marcos and Hays & Caldwell Counties, focused on positioning the region for a wider diversity of quality jobs with higher wages. The GSMP mission is to increase economic opportunities for all in the heart of the Texas Innovation Corridor. Visit greatersanmarcostx.com for more information.