JLL Secures Financing for 377,300-SF Spec Industrial Project in San Marcos, Texas

San Marcos, TX — In a move signaling confidence in Central Texas’s booming industrial market, JLL has successfully arranged construction financing for the initial phase of San Marcos Business Park, a speculative industrial development totaling 377,300 square feet.

The project, developed by Ledo Capital Group, is located within the expansive Whisper South master-planned development in San Marcos, a city strategically positioned between Austin and San Antonio along the I-35 corridor.

The building, which will be constructed on a speculative basis, will feature a modern rear-load configuration, 36-foot clear heights, 75 dock doors, two drive-in doors, and an ESFR (Early Suppression Fast Response) fire sprinkler system, making it highly suitable for logistics, manufacturing, and last-mile distribution tenants.

JLL’s Matt Stewart, Ace Sudah, Jackson Finch, Jacob Michael, and Cameron Sepahi arranged the financing through a regional bank, which remains undisclosed. The transaction further reinforces JLL’s standing in the industrial capital markets sector.

While the total value of the construction loan has not been disclosed, the deal reflects lender confidence in the ongoing industrial expansion across Central Texas—an area seeing accelerated demand due to reshoring trends, population growth, and increased e-commerce activity.

Strategic Regional Growth

San Marcos has quickly evolved into a major logistics and industrial center, drawing interest from national and regional developers. Its location along Interstate 35 offers critical north-south connectivity and access to a deep labor pool from both Austin and San Antonio.

As part of Whisper South, the San Marcos Business Park benefits from proximity to residential, retail, and commercial developments, providing a fully integrated environment for tenants and future workforce.

Developer Outlook

Ledo Capital Group, known for its strategic acquisitions and development of industrial assets in growth markets, is banking on the region’s robust fundamentals and long-term leasing potential. This latest project is designed to serve a wide range of industrial users seeking well-located, high-functioning space near key Texas distribution nodes.

JLL's Role in Industrial Growth

With this transaction, JLL continues to play a leading role in supporting speculative industrial development across Texas. By leveraging its strong lender network and market expertise, the firm helps connect developers with capital even in a higher interest rate environment.

The financing deal also speaks to the growing appetite among banks and institutional lenders to fund logistics-related developments in high-growth corridors like Central Texas.

Market Context

According to recent industrial market reports, Central Texas has one of the lowest industrial vacancy rates in the state, with absorption driven by demand from third-party logistics firms, construction suppliers, and advanced manufacturers. Developers continue to pursue speculative projects with confidence, often securing tenants before completion.

Conclusion

With construction financing now secured, Phase I of San Marcos Business Park is set to move forward, adding much-needed industrial space to a rapidly expanding corridor. The project marks a significant milestone for both Ledo Capital Group and the broader Whisper South vision—reinforcing San Marcos’s position as a pivotal hub in Texas’s industrial supply chain.

Originally reported by Rebusiness Online.