Cromwell Commercial Group Procures Buyer for 1M SF Manufacturing Building

Cromwell Commercial Group facilitated the successful sale of a 1,060,000-square-foot manufacturing and distribution facility situated on 56acres at 5200 Beverly Drive in Waco, Texas. The transaction closed on December 17, with a Dallas-based investment firm.

Jordan Beard ofCromwell Commercial Group represented the buyer Keating Resources. Notably, the opportunity was sourced and procured through Cromwell Commercial Group’s network of industry relationships before the asset was even formally marketed.

The property served as a glass bottle manufacturing facility for consumer beverage companies for more than 80 years, operating continuously from 1943 through 2023. The developer plans to reposition the approximately 907,000-square-foot distribution component of the facility for lease or sale as the Waco I-35 Logistics Center, a multi-tenant industrial and manufacturing campus. The building’s natural divisibility into approximately 100,000-square-foot units aligns closely with current market demand for scalable industrial space.

Jordan Beard and Clay Fuller of Cromwell Commercial Group have listed the Waco I-35 Logistics Center for lease, and Beard notes “We are already fielding interest and have walked national and international companies through the space and are looking forward to delivering an incredible asset to Waco’s Industrial Market.”

While the facility was well-maintained, updates to the property have already began including new dock high doors, paint, and other general site improvements. Located near Interstate 35 places it at the center of the Texas Triangle—one of the fastest-growing megaregions in the United States—providing tenants access to a population of more than 23 million people within a 2.5-hour drive and offers existing heavy industrial infrastructure with Class I rail service via UnionPacific in the Waco market. Together, these attributes create a rare, shovel-ready opportunity for economic development partners and employers seeking to attract job-creating manufacturing and logistics users to the booming Central Texas market without the time and cost of ground-up development.

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