Partners Capital, the investment platform of Partners Real Estate, negotiated the sale of a 4.74-acre parcel along the I-35 frontage road to CarMax. The transaction is the first major sale to close within Partners Land Fund I, and is part of the 152-acre Waco Gateway Park in Waco, Texas.
Construction on CarMax’s parcel is expected to commence in June. Additionally, the sale of another parcel of land at Waco Gateway is under contract to an industrial developer, and expected to close this summer.
Land Fund I’s first sale follows a strong start to 2026 for Partners Capital, which also recently acquired Powers Ferry Business Park, a 261,949-sq.-ft. flex/service center asset located in the high-growth Cumberland/Galleria submarket in Northwest Atlanta, Georgia; and Fidelity Road Industrial Park, a three-building, 198,290-sq.-ft. asset in Houston.
During the last decade, Partners Capital has sponsored eight investment funds across three investment strategies and completed more than $800 million in transactions. Its current portfolio includes more than 2.25 million sq. ft. of properties throughout major markets in Texas and the Southeast.
