WACO, TEXAS — Cromwell Commercial Group, an affiliate of brokerage firm Coldwell Banker Commercial APEX, Realtors, has arranged the sale of a 1 million-square-foot industrial facility in Waco. The facility, which spans 56 acres at 5200 Beverly Drive, was operated as a glass bottle manufacturing facility for 80 years. The new owner, Dallas-based investment firm Keating Resources, plans to reposition the facility’s 907,000‑square‑foot distribution component for lease or sale and has rebranded the property as Waco I-35 Logistics Center. Jordan Beard of Cromwell Commercial brokered the sale of the property, and the firm has also been retained to direct and market the repositioning strategy.
Property Type
HOUSTON — Greystone has provided a $36.6 million Freddie Mac loan for the refinancing of a 476-unit apartment community in Houston. The name of the property, which was originally built in 1966 and offers one-, two- and three-bedroom units, was not disclosed. The loan was structured with a fixed five-year term and full-term, interest-only payments. The borrower, which was also not disclosed, has invested in capital improvements since acquiring the property, including unit interior renovations and upgrades of building systems. Gill Dolan led the transaction for Greystone.
FORT WORTH, TEXAS — Lee & Associates has negotiated a 123,241-square-foot industrial lease in South Fort Worth. The space is located within Carter Industrial Park. Reid Bassinger, Trey Fricke and Schaefer Amos of Lee & Associates represented the tenant, ReturnPro, which provides post-purchase services for retailers, in the lease negotiations. Cheyenne Mungaray, Forrest Cook and Jeff Rein of Stream Realty Partners represented the landlord, Agellan Capital Partners Inc.
MATHIS, TEXAS — MAG Capital Partners has purchased a 34,150-square-foot industrial facility in Mathis, about 35 miles northwest of Corpus Christi, in a sale-leaseback deal. The 37.7-acre site at 11557 State Highway 359 houses the global headquarters operations of Airforce Turbine Service and includes a private runway. Steven Okon, Blake Shaffer and Anthony Walters of JLL advised on the transaction. DWG Capital Group arranged acquisition financing for the deal on behalf of the purchaser.
Johnson & Johnson to Develop Multibillion-Dollar Life Sciences Facility in Wilson, North Carolina
by John Nelson
WILSON, N.C. — Pharmaceutical and home consumer products giant Johnson & Johnson has announced a new multibillion-dollar life sciences facility in Wilson, which sits east of the Raleigh-Durham region along I-95 in Wilson County. The new factory will focus on the production of medicines for oncology and neurological diseases. The development is expected to create up to 500 new jobs and represents the second major investment in Wilson County for Johnson & Johnson. In October 2024, the company announced a $2 billion manufacturing campus that would support 420 jobs. That facility is currently under construction, and Johnson & Johnson has begun hiring advanced manufacturing positions. Additionally, Johnson & Johnson announced last year a $2 billion biopharmaceutical manufacturing facility in nearby Holly Springs, N.C. Civic partners on the new factory in Wilson includes the North Carolina Department of Commerce, the Economic Development Partnership of North Carolina, the North Carolina General Assembly, the North Carolina Biotechnology Center, the North Carolina Community College System, the North Carolina Department of Environmental Quality, Wilson Community College, the BioPharma Crescent, Wilson County, the Wilson Economic Development Council and the City of Wilson.
FORT LAUDERDALE, FLA. — JLL has arranged a $185 million loan for The Main, a 25-story office building located at 201 E. Los Olas Blvd. in downtown Fort Lauderdale. Paul Stasaitis, Geoff Goldstein and Blake Koletic of JLL arranged the floating-rate loan through Nomura on behalf of the borrower, a joint venture between Stiles and Shorenstein Investment Advisors. Delivered in 2020, the LEED Gold-certified building spans 387,401 square feet and features VIP parking, a conference center, fitness center, amenity deck, tenant lounges and onsite restaurants including Moxie’s and Fogo de Chao. The Main was fully leased at the time of financing to tenants including JPMorgan Chase and Raymond James, among others.
LV Collective, Harrison Street to Break Ground on 862-Bed Student Housing Development Near Virginia Tech
by John Nelson
BLACKSBURG, VA. — A joint venture between LV Collective and Harrison Street Asset Management is set to break ground on Rambler, an 862-bed student housing development located near the Virginia Tech campus in Blacksburg. The eight-story community will span 577,671 square feet and offer 247 apartments and townhomes in studio, one-, two-, three-, four- and five-bedroom configurations. Shared amenities will include a ground-level coffee shop; coworking space with private study rooms; a multi-sport simulator; clubroom and social lounge; fitness center with a yoga and flex studio; wellness lounge with a sauna and cold plunge; and an outdoor pool deck with a hot tub. Site work began in December with completion scheduled for fall 2028. The development team for the project includes Brinkmann, Niles Bolton, Variant Collaborative, Ironwood and Foresight. DLA Piper provided legal counsel for the development.
TAMPA, FLA. AND ATLANTA — Tampa-based commercial real estate services firm Franklin Street has acquired Hodges Ward Elliott (HWE), a global hospitality brokerage firm based in Atlanta with offices in London, New York City, Miami, Tampa and Dallas. HWE will continue to provide its services under its current name and brand and will keep its leadership and brokerage teams intact. “HWE’s experience with executing institutional deals will benefit Franklin Street as we expand our reach and market share,” says Tony DeSisto, president and chief operating officer at Franklin Street. The company opened offices in Nashville and Dallas last year and recently hired a new regional managing director in Miami. HWE will join the Franklin Street platform and have access to the company’s multiple business verticals, including insurance, project management, capital advisory, leasing and property management. HWE team members have joined existing Franklin Street offices in Atlanta, Dallas, Nashville, Orlando and Tampa. Over the past five years, HWE has completed $17 billion in closed transactions, with 30 deals exceeding $100 million. In 2025, the firm closed $1.5 billion in transactions, including the sale of W London and Viewline Resort Snowmass, Autograph Collection in Colorado.
SOMERVILLE, MASS. — TransMedics Group Inc. has signed a 16-year, 498,000-square-foot headquarters lease in Somerville, located just outside of downtown Boston. The provider of organ transplant therapy services will occupy the entirety of a newly constructed, 12-story building within Assembly Innovation Park that houses office, life sciences and manufacturing space. San Diego-based BioMed Realty owns Assembly Innovation Park, which is planned to ultimately feature three office/life sciences buildings, as well as retail and open green space.
BREWSTER, N.Y. — Lincoln Equities Group has received a $106 million bridge loan for the refinancing of a 618,048-square-foot industrial building in Brewster, about 60 miles northeast of New York City. Building B @ Interstate Crossings was completed in 2025 and features a clear height of 40 feet. Peter Rotchford and Christopher Pratt of JLL arranged the loan, which includes a future funding component, through affiliates of Apollo and CenterSquare Investment Management.