Greystar Real Estate Partners, a global leader in the investment, development, and management of real estate, including rental housing, logistics, and life sciences, has broken ground on Phase 2 of a San Marcos-based industrial development as Manifest Commerce, an earth-friendly logistics company, secured a lease to bring Phase 1 to full occupancy.
Whisper 35, a Class A development at 912 Flustern Road along the Interstate 35 corridor, is a five-building industrial park being completed in two phases. Buildings 1 and 2 were completed in Phase 1, totaling 179,988 square feet. Buildings 3, 4, and 5, consisting of 314,938 square feet, are scheduled to finish in early 2024. Stream Realty Partners, a national commercial real estate firm offering an integrated platform of services, leases and manages the development.
Greystar, serving as the project developer, expanded into the logistics space in 2020. Building on decades of experience operating in local markets across the globe, Greystar’s Logistics platform demonstrates the company’s scale, history of executing, and access to capital.
“Our Whisper 35 project is located in the heart of Hays County and Texas’ Innovation Corridor, allowing our tenants to serve both the Austin and San Antonio markets,” said Spencer Holcomb, Director of Development for Greystar. “The project is benefitting from the rapid growth of several industries, including automotive, semiconductor manufacturing, regional distribution, and destination attractions. We are excited to further expand our logistics presence in Central Texas.”
Manifest Commerce recently signed a lease on Building 2, which consists of 89,988 square feet. Manifest is a full-service, eco-third-party logistics company offering carbon-neutral services to direct-to-consumer businesses. The space will allow the Austin-based fulfillment company to serve start-ups, small- to medium-sized businesses, and corporate e-commerce businesses more efficiently.
“We are thrilled to welcome Manifest Commerce to Whisper 35 and bring Phase 1 to 100% occupancy,” said Stream Austin Vice President Mitchell Becker. “The north San Marcos region is proving to be a popular choice for tenants looking to escape rising rental costs in core Austin submarkets. We are excited to be under construction on another 315,000 square feet across three buildings to accommodate that growing demand.”
Whisper 35 is close to I-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 1.6 million square feet.