The land is currently zoned for industrial purposes as part of the Gas Lamp District
SCOTTSDALE – Walton Global, a real estate investment and land asset management company with US$3.6 billion under management, has announced the closing of the sale of 93.48 acres of land in San Marcos, Texas. The property, part of the master-planned Gas Lamp District, is in the Austin-San Antonio Corridor and is intended for industrial uses.
The land sold by Walton Global was acquired by 42 San Marcos, LP, an affiliate of 42 Real Estate.
“We are excited to kick off this portion of our Gas Lamp property that is a total of approximately 495-acres that will anchor industrial development and will be a great contributor to economic growth in the area with the creation of new jobs and ultimately new homes” said David Peter, executive vice president of special projects for Walton Global.
The Master Plan has direct frontage on Centerpoint Road and Old Bastrop Road. It benefits from direct access to Interstate 35, the major freeway that connects Austin to San Antonio. The property is planned for a mix of residential offerings, commercial, industrial and retail uses. It will also incorporate ample open spaces and parks connected by jogging, hiking and biking trails.
Peter added: “Walton is focused on securing land sales for the remainder of the Gas Lamp master plan and anticipates making additional development announcements over the coming months for industrial, commercial and residential plans.”
Walton Global continues to play an important role in administering land investment projects. The company’s focus on high-demand real estate markets, such as Austin and San Antonio, makes them a go-to for homebuilders, industrial developers and commercial developers.