Cromwell Commercial Group to handle leasing, marketing of 1.06-million-square-foot logistics center in Waco

Cromwell Commercial Group, an affiliate of Coldwell Commercial APEX, Realtors, has been selected to lead the leasing and marketing of the newly branded Waco I‑35 Logistics Center, a 1,060,000‑square‑foot industrial facility on 56 acres at 5200 Beverly Drive in Waco, Texas.

In addition to securing the leasing assignment, Cromwell Commercial Group also facilitated the property’s sale to a Dallas-based investment firm, with the transaction closing Dec. 17.

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

The property operated as a glass bottle manufacturing facility for consumer beverage companies for more than 80 years, running continuously from 1943 through 2023. The developer plans to reposition the approximately 907,000‑square‑foot distribution component for lease or sale as the Waco I‑35 Logistics Center, a multi-tenant industrial and manufacturing campus.

Cromwell Commercial Group’s leasing team, led by Beard and Clay Fuller, has been engaged to market the Waco I‑35 Logistics Center and direct its repositioning strategy. Their assignment includes branding, market outreach and a targeted leasing campaign emphasizing the building’s natural divisibility into roughly 100,000‑square‑foot units, a size increasingly sought by modern industrial users looking for scalable space.

While the facility was well maintained, updates have already begun, including new dock-high doors, fresh paint and general site improvements. Its location 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 more than 23 million people within a 2.5‑hour drive. The site also offers heavy industrial infrastructure with Class I rail service via Union Pacific in the Waco market.

Another reason for multifamily demand? The cost of renting remains cheaper than owning in every major U.S. metro area

There are plenty of reasons for the multifamily sector’s resilience. Many people are choosing to rent rather than buy a home. Mortgage interest rates are keeping some potential buyers from making the leap to homebuying. Today’s luxury apartments attract renters who want high-end amenities without the hassle of maintaining a home.

Then there’s the cost of renting vs. the cost of owning a home. According to the latest research from LendingTree, renting an apartment remains cheaper than owning a home in every large metropolitan area in the United States. This ranks as one of the key reasons why demand for apartment units continues to rise.

According to a LendingTree report released this month, U.S. homeowners with a mortgage pay 36.9% more a month than do renters.

LendingTree reported that the median monthly gross rent was $1,487 in 2024. The median monthly housing costs on homes with a mortgage stood at $2,035 during the same time. This means that renting was $548 less expensive each month or $6,576 cheaper annually.

That monthly gap is $50 more than it was in 2023, when the difference between median monthly gross rent and median monthly housing costs was $498, according to LendingTree.

In Chicago, the median apartment rent was $1,469 a month in 2024 while the median housing costs for homes with a mortgage stood at $2,237. That means that renting was $768 cheaper in Chicago than owning a home.

In Milwaukee, the median rent stood at $1,177 a month, while the median housing costs were $1,849, a difference of $672. In Madison, median monthly rent was $1,437 while median housing costs hit $2,118, a difference of $681.

In Minneapolis, renters spend a median amount of $1,444 in rent each month while homeowners with a mortgage spent a median monthly amount of $2,181. That comes to a difference of $738 each month.

Will this change? No one can predict that, though higher housing prices seem to suggest that renting might remain more affordable in the long-term.

This, then, could be yet another factor that continues to fuel the demand for multifamily housing across the United States.

 Industry veteran JJ Leonard joins Partners Real Estate as Equity Partner and Managing Director, Dallas—fueling firm’s continued evolution

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Leonard moves to Partners from Stream; will grow and lead company’s presence and day-to-day operations in Dallas-Ft. Worth while continuing to provide exceptional service to his clients as an Office Agency Leasing broker
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Announcement comes on heels of Partners’ significant Dallas growth, necessitating move and expansion to new Class AA office space at 2515 McKinney Ave

Partners Real Estate (“Partners”), a private partnership-led fully-integrated commercial real estate firm, today announced the hiring of JJ Leonard as an Equity Partner and Managing Director of its Dallas office. Mr. Leonard, a highly respected industry veteran, transitions from Stream Realty to lead the day-to-day operations and drive the continued growth of Partners in the Dallas-Fort Worth market.

This announcement comes on the heels of Peter Mainguy joining Partners (former CBRE Houston head) as Partner and Executive Managing Director of Services for its Texas Region. The addition of both Mr. Leonard and Mr. Mainguy speaks to the attractiveness of Partners’ unique partnership structure, which puts the client at the center of everything the firm does—dramatically increasing collaboration and significantly reducing silos, which are so prevalent in the traditional commercial real estate services model. Mr. Leonard’s extensive experience and proven track record in Dallas will be instrumental as Partners continues its strategic growth trajectory.

“JJ is a true leader and highly accomplished professional with deep commercial real estate leadership experience and market expertise, which he will continue to provide to his office leasing clients. He has an exceptional track record in Dallas, and has continually demonstrated client service excellence,” said Jon Silberman, Partners’ Chief Executive Officer. “JJ’s appointment to Managing Director of our Dallas office is a testament to our strategic investment in top-tier talent to drive our expansion and enhance our service offerings for our clients in one of the nation’s most dynamic real estate markets. We are very excited to welcome him to the firm.”

With a history and experience of leasing a portfolio punctuated by several of the most prized office properties in DFW, Mr. Leonard will also continue to provide exceptional service as an Office Agency Leasing broker, further growing his business leveraging the power of Partners’ integrated full-service platform.

Functioning as a player-coach, similar to a role he held with Stream for many years—and the same dual role that fellow producers and Equity Partners Ryan McCullough and John Colglazier, the company’s Austin and San Antonio leaders, have thrived in since their promotions last summer—will ensure seamless continuity and sustained high performance for Partners’ clients.

“Joining Partners, a powerhouse among the nation’s fastest-growing independent commercial real estate firms, is an exciting opportunity to shape something extraordinary,” said Mr. Leonard. “I’m inspired by Partners’ bold vision and rapid rise. As Dallas office leader I’m ready to continue to provide exceptional service to my clients, while driving our momentum, elevating our national presence, and signaling to the industry that Partners is building on its strengths to redefine what’s possible in commercial real estate.”

Mr. Leonard brings over 24 years of commercial real estate experience, representing some of the largest institutional investors of office properties in Dallas-Ft. Worth. Prior to joining Partners, Mr. Leonard served as Executive Vice President & Partner for Dallas at Stream, where he played a pivotal role in overseeing the growth of the DFW office leasing portfolio from 8 million to over 16 million sq. ft. between 2015 and 2022. Throughout his distinguished career, he has closed over 10 million sq. ft. of lease transactions with a value exceeding $2 billion. Notable clients Mr. Leonard has worked with throughout his career include New York Life Investors, Fortis Property Group, Manova Partners, Piedmont REIT, Wells REIT, GI Partners, CBRE Global Investors, Ares, JPMorgan Asset Management, Colony Capital, Common Fund, Masaveu Real Estate U.S., and TriGate Capital, among many others.

The hiring of Mr. Leonard compounds a year of strategic wins and high-profile announcements that demonstrate the firm’s longstanding commitment to enhancing the services it offers its clients, including just this past week adding a trio of veteran brokers to its Austin office; acquiring Atlanta-based property management firm Seven Oaks in October; bringing on Mitchell Hanzik to oversee development across Texas; and the highly regarded Office Agency Leasing team of Chip Colvill, Michael Anderson, Win Haggard, Damon Thames, Brad Beasley, Diana Bridger, and Connor Saxe joining last spring.

Additionally, Partners’ continued growth in Dallas has necessitated an expansion, with the company recently moving just down the road from 1717 McKinney Ave into brand-new Class AA office space on the 9th floor at 2515 McKinney Ave in the heart of Uptown Dallas. 2515 McKinney is a premier destination in Uptown.

Professionals joining Partners appreciate that the company’s services platform is fully integrated with its investments and development businesses and enables its brokers to participate in those opportunities. 

About Partners

Partners is one of the largest privately-held and independently-owned commercial real estate firms in the U.S. with three key operating segments: 1) Full-service Occupier & Investor business; 2) Partners Capital, an investment management platform specializing in the acquisition and disposition of office, industrial, and retail properties via multiple investment funds; and includes Partners Finance, a registered broker dealer and FINRA / SIPC member engaged in offering real estate investment funds and individual investment opportunities to qualified individual investors, family offices and institutions; 3) Partners Development, which creates first-class development projects for our clients & investors. www.partnersrealestate.com

Partners Real Estate augments its full-service client-centric platform in Austin with additions of experienced brokerage professionals Bryan McMurrey, Rye Hinkle, and Chris Price

McMurrey, formerly of Transwestern, joins firm at the Equity Partner level
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Hinkle, also formerly of Transwestern, and Price come aboard as Senior Vice Presidents
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Announcement comes on heels of Partners’ significant Austin growth, necessitating move and expansion to new Class A office space in the heart of downtown Austin at 301 Congress Avenue

Partners Real Estate (“Partners”), a private partnership-led fully-integrated commercial real estate firm, today announced the hirings of Bryan McMurrey as an Equity Partner; Rye Hinkle as a Senior Vice President; and Chris Price as a Senior Vice President in the firm’s Austin office, adding major brokerage horsepower to its growing Central Texas operations. Mr. McMurrey and Mr. Hinkle join Partners from Transwestern, while Mr. Price comes aboard from Austin Commercial Advisors.

“Bryan, Rye, and Chris’ deep brokerage expertise across multiple product types throughout Central Texas and track record of best-in-class results will further bolster the enhanced service delivery our Austin-area clients expect from Partners,” said Peter Mainguy, Partner and Executive Managing Director of Services for Partners’ Texas Region. “These strategic hires underscore the growing appeal of Partners’ unique platform, which continues to attract top-tier talent eager to leverage our combined services, investments, and development capabilities to drive superior outcomes.”

This announcement comes on the heels of a flurry of high-profile moves by Partners during the past few months, including Mr. Mainguy joining Partners (former CBRE Houston head) earlier this month. The company’s new additions speak to the attractiveness of Partners’ unique partnership structure, which puts the client at the center of everything the firm does—dramatically increasing collaboration and significantly reducing silos, which are so prevalent in the traditional commercial real estate services model.

Mr. McMurrey focuses on multifamily and retail brokerage, advising clients on acquisitions, dispositions, and leasing strategies. He represents both private and institutional clients, delivering tailored solutions across all facets of the transaction process. With more than 25 years of experience in commercial real estate, Mr. McMurrey has built a diverse background in landlord and tenant representation, investment sales, and project leasing. He launched his career at Republic Commercial Properties before moving to NAI and later Trammell Crow Company / CBRE. Over the course of his career, he has completed more than 75 commercial sale transactions and negotiated over 1,000 commercial leases totaling more than $850 million in value. Mr. McMurrey has previously been recognized among CoStar’s Top 10 Power Retail Broker from 2004 to 2023, and earned his Bachelor of Psychology from St. Edward’s University.

Mr. Hinkle focuses on multifamily investment sales and land brokerage, advising private and institutional clients across Austin, San Antonio, and Central Texas. He provides comprehensive disposition services for multifamily assets and represents landowners and developers in the acquisition and sale of commercial land for development or redevelopment. He joined Transwestern’s Central Texas brokerage team in 2018 and has completed more than 60 commercial leases and 30 commercial sale transactions, totaling over $180 million in transaction value. Mr. Hinkle holds a Bachelor of Geography from The University of Texas at Austin. In addition, he completed the McCombs School of Business Energy Management Program.

Mr. Price will be focused on the Office Tenant Representation side of the business. He is a seasoned commercial real estate professional with over 14 years of experience representing tenants, landlords, and investors across the office, retail, and industrial sectors. Known for his strategic insight, market expertise, and relationship-first approach, he has completed over $500 million in transaction volume throughout his career. A Houston native, Mr. Price grew up around real estate and developed a competitive edge early in life through a nationally ranked tennis career. He was ranked #1 in both Texas and the U.S. during his junior years and went on to play collegiately at Duke and TCU before channeling that same drive into commercial real estate.

“The arrival of this trio of top-tier sales professionals significantly elevates our brokerage capabilities in Austin and throughout Central Texas,” said Ryan McCullough, Partner and Managing Director of Partners’ Austin office. “Each brings extensive transaction experience, strong client relationships, and a shared commitment to excellence that aligns perfectly with our client-centric approach. Combined with our recent expansion into premier new office space at 301 Congress Avenue, these additions position our growing Austin platform to capitalize on the market’s momentum and deliver even more comprehensive, integrated solutions through Partners’ distinctive partnership model that empowers collaboration across business lines and geographies.”

These hirings don’t just add to Partners’ headcount—they compound a year of strategic wins and high-profile announcements that demonstrate the firm’s longstanding commitment to enhancing the services it offers its clients, including acquiring Atlanta-based property management firm Seven Oaks in October; bringing on Mitchell Hanzik to oversee development across Texas; and the highly regarded Office Agency Leasing team of Chip Colvill, Michael Anderson, Win Haggard, Damon Thames, Brad Beasley, Diana Bridger, and Connor Saxe joining last spring.

Additionally, Partners’ continued growth in Austin has necessitated an expansion, with the company recently moving to the heart of Downtown Austin at 301 Congress Ave in a transaction arranged by the company’s Harrison Schuhmacher, a Vice President in Partners’ Office Tenant Representation group. Located only minutes away from the Texas Capitol and Lady Bird Lake, 301 Congress features over 430,000 sq. ft. of best-in-class office space, including a state-of-the-art conference center and a 24-hour fitness center.

Professionals joining Partners appreciate that the company’s services platform is fully integrated with its investments and development businesses and enables its brokers to participate in those opportunities. 

About Partners

Partners is one of the largest privately-held and independently-owned commercial real estate firms in the U.S. with three key operating segments: 1) Full-service Occupier & Investor business; 2) Partners Capital, an investment management platform specializing in the acquisition and disposition of office, industrial, and retail properties via multiple investment funds; and includes Partners Finance, a registered broker dealer and FINRA / SIPC member engaged in offering real estate investment funds and individual investment opportunities to qualified individual investors, family offices and institutions; 3) Partners Development, which creates first-class development projects for our clients & investors. www.partnersrealestate.com

Matt Stoops, PLA promoted to Senior Director of Houston Planning & Landscape Architecture at LJA Engineering

LJA Engineering has promoted Matt Stoops, PLA, to Senior Director of Houston Planning and Landscape Architecture. He will integrate the firm’s Planning and Landscape Architecture teams to provide a unified, creative approach for our land development and public clients. Stoops joined LJA more than seven years ago and has grown the Planning team from four members to twenty-four members, expanding its work to include major public projects such as the Western League City Master Plan and the Port Lavaca Downtown Waterfront Master Plan. With over 30 years of experience, he has led planning efforts for Houston-area developments including Harvest Green, Jubilee, Pomona, George Ranch, and Twinwood. He also serves in leadership roles with the West Houston Association and Houston Urban Land Institute. This promotion reflects LJA’s confidence in his ability to drive innovation across its planning and landscape architecture sectors.

Shaun Kirk, PE, professionally recognized at Dunaway

Dunaway has appointed Shaun Kirk, PE, to Principal. Shaun serves as a Senior Director in Dunaway’s Structural Engineering practice, bringing nearly three decades of experience and a proven track record of exceeding client expectations. His work spans diverse market sectors, including corporate commercial campuses and highly complex urban infill and mixed-use developments, where his technical leadership and strategic insight drive project success.