A news release from Live Oak, the Texas-based real estate and development firm that invested the capital to advance the project, stated the the two-building development will top out at 135,000 square feet.
The project will be built on 14 acres at 320 Barnes Road, San Marcos, near the intersection of I-35 and Wonder World Drive, and will be designated for uses including industrial, office space, showrooms, research and development, and light manufacturing according to the release.
“The corridor between Austin and San Antonio continues to see rapid growth in investment, infrastructure and workforce talent” said Ryan Whalen, vice president of Live Oak, in the release. “From a long-term investment perspective, we believe that San Marcos is a great place for us to plant our flag.”
The release states San Marcos will add more than $725,000 to its coffers in property tax revenue over a 10-year period, and Hays County will receive roughly $374,000 over the same timeframe.
“Speculative space facility development has been proven over and over again to be an effective strategy in attracting and securing new employers with high quality jobs that provide good pay and benefits,” said Jason Giulietti, president of the Greater San Marcos Partnership, in the release.