Austin, TX – June 22, 2022 – Greystar Real Estate Partners, LLC (“Greystar”), a global leader in the investment, development, and management of high-quality rental housing properties and adjacent sectors, including logistics and life sciences, recently broke ground on Building 2 of its 500,000-square-foot, Class A industrial development along the flourishing Interstate 35 corridor in San Marcos.
Phase 1 consists of Buildings 1 and 2 totaling 180,000 square feet. Building 1 was completed in 2021 and is now fully leased. Building 2 includes one 90,025-square-foot building that is expected to deliver in the fourth quarter of 2022. Phase 2 contains Buildings 3-5 totaling 314,938 square feet of industrial space. It is expected to deliver in the third quarter of 2023.
Located in rapidly growing Hays County, Whisper 35 is a state-of-the-art, multi-phase development offering a unique opportunity to serve Austin, San Antonio, and everything in between. Dubbed the Texas Innovation Corridor, the greater San Marcos area is evolving as one of the most promising regions in the nation. It is increasingly being recognized by the national media and is home to rapid growth in several industries, including aerospace, aviation, security and defense; business services and support; regional distribution; and destination attractions.
Whisper 35 is located within proximity to IH-35 and is conveniently accessible via the 130 and 45 state highway toll roads. The development is 25 miles from Austin and 55 miles from San Antonio. It’s 20 minutes from the new Tesla factory and within a 10-mile radius of two Amazon distribution facilities totaling over 1.6M square feet.
The development team includes Greystar and RC Page serving as general contractor. Greystar has hired Stream Realty Partners to lease and manage the properties. The leasing team includes Managing Director and Partner Sam Owen, Senior Vice President Adam Green, and Vice President Mitchell Becker.
“With a soaring population, affordable housing, and strong labor metrics, San Marcos presents an incredible opportunity for industrial tenants to serve both Austin and San Antonio and everything in between,” Owen said. “As rental rates continue to increase citywide and new
development projects in Buda and Kyle prelease at a record pace, Whisper 35 offers an excellent solution to tenants seeking modern industrial buildings.”
About Stream Realty Partners
Stream Realty Partners is a full-service commercial real estate firm with integrated offerings in leasing, property management, tenant representation, development, construction management, investment sales, and investment management services. Headquartered in Dallas, Stream is dedicated to sourcing acquisition and development opportunities for the firm and its clients. Since 1996, the company has grown to a staff of more than 1,100 professionals with offices in Atlanta, Austin, the Carolinas, Chicago, Dallas, Denver, Fort Worth, Houston, Greater Los Angeles, Nashville, Northern Virginia, Phoenix, San Antonio, and Washington, D.C. Stream completes more than $5.8 billion in real estate transactions annually and is an active investor and developer across the nation. Visit www.streamrealty.com.
Greystar is a leading, fully integrated real estate company offering expertise in investment management, development, and management of rental housing properties and adjacent sectors, including logistics and life sciences globally. Headquartered in Charleston, South Carolina, Greystar manages and operates over $221 billion of real estate in 224 markets globally including offices throughout North America, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, manages over 768,000 units/beds, and has a robust institutional investment management platform with more than $58.2 billion of assets under management, including over $24 billion of development assets. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world-class service in the rental residential real estate business. To learn more, visit www.greystar.com.