Central Texas Industrial Market Sees Major Transaction with Sale of 458,740-SF Facility

WACO, Texas - Rezul -- Onward Real Estate Team Facilitates Sale of Iconic 458,740 SF Industrial Property in Central Texas

Waco, Texas — December 9, 2025 — The Onward Real Estate Team announced the successful sale of 2200 Heritage Parkway, a 458,740-square-foot industrial facility situated on 28.66 acres, formerly known as the Pier 1 Imports Building. The transaction closed on December 9, 2025, marking the culmination of a multi-year strategic relationship with the property owner.

Onward Real Estate Team represented ownership at every major stage of the asset's lifecycle — from acquisition in 2021, to tenant placement, and ultimately through final disposition. This full-cycle representation underscores the team's long-term, relationship-driven approach to commercial real estate.

Despite global economic headwinds and shifting industrial market conditions, the property attracted strong interest from both domestic and international prospects, resulting in numerous showings and a competitive sales environment. The final transaction achieved nearly 95% of the asking price at the time of sale.

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The buyer, Paper Source Converting, is a manufacturing company specializing in high-performance paper products and converting solutions, further reinforcing Central Texas's growing reputation as a hub for advanced industrial operations.

Originally constructed in 1988, the building's scale, infrastructure, and strategic location positioned it as one of the most significant industrial assets in the region. The successful sale reflects continued demand for large-format industrial facilities in Central Texas, particularly those capable of supporting manufacturing and distribution at scale.

"This transaction represents more than just a sale," said Brad Harrell, Onward CEO and Associate Broker. "It reflects a long-term partnership, disciplined strategy, and our commitment to guiding clients through every phase of ownership — from purchase to lease to disposition — even in complex market conditions."

Onward Real Estate Team at Keller Williams
https://www.onwardrealestateteam.com/

Contact:

Danielle Smith, Marketing Director - dsmith@onwardret.com