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Majestic Realty to build large-scale industrial spec facilities in San Marcos

Wednesday, October 5, 2022

Majestic Realty is set to build an 800,000 square-foot industrial speculative project in San Marcos.

The Greater San Marcos Partnership and Majestic Realty, the nation’s largest privately-held development company, announced the spec buildings will be built near Centerpoint Road and South Old Bastrop Highway. The 800,000 square-foot-project will be one of the largest speculative facilities in the Texas Innovation Corridor, GSMP said.

The spec space will be built for light manufacturing, office space, warehouse, showroom, or research and development uses. GSMP added that the construction on the project will begin by April 2024, which will include construction of 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,” Majestic Realty Senior Vice President Al Sorrels said in a statement. “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 San Marcos City Council and Hays County both entered into performance-based agreements with Majestic Realty during their respective meetings on Sept. 20.

“We’re witnessing an unmatched amount of interest in the Texas Innovation Corridor, but our biggest issue continues to be available building inventory,” GSMP President Jason Giulietti said. “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.”

GSMP said the location marks the ninth announcement in the Texas Innovation Corridor for fiscal year 2022, which began Oct. 1, 2021 and continued through Sept. 30, 2022. Majestic Realty’s announcement resulted in $2 billion in new capital investment in Hays and Caldwell counties. GSMP added that the recent announcements will also brings 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.

Majestic Realty’s spec facilities will join other speculative-space facilities announced during GSMP’s fiscal year 2022, including projects 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,” Hays County Judge Ruben Becerra said. “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.”

Added San Marcos Mayor Jane Hughson: "Companies with good-paying jobs require spacious facilities where they can succeed. 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."

San Marcos Record

(512) 392-2458
P.O. Box 1109, San Marcos, TX 78666