Selling the complex “is always a possibility,” Brad Davis said in an interview. But the top priority remains finding someone to lease the entire site.
“Everybody in the trucking industry in the United States knows Central Freight and knows to duplicate something like this would be very costly,” Brad Davis said. “I just don’t think there are many turn-key terminals like this in the country or in this region. There are not many options.”
He said soft marketing has begun, but the team will pick up the pace in 30 to 45 days, after the facilities have been entirely vacated.
The brochure lists an annual lease rate of $5.20 per square foot, triple net.
Central Freight, founded in 1925 in Waco by Woody Callan Sr., announced just before Christmas last year it would cease operations. Ownership blamed mounting debt and futile efforts to acquire funding to continue.
Central Freight employed more than 1,300 drivers and maintained upward of 60 terminals when it announced it was applying the brakes for good.
Neighborly’s 5,000th franchise
Neighborly, the franchising company New Yorker Don Dwyer started in Waco 40 years ago, continues to flex its muscle and expand its global footprint. It has reached the milestone of 5,000 franchises, representing 29 brands in nine countries, according to a press release last week. It enjoyed systemwide sales of $3.3 billion last year, when it was acquired by investment firm KKR.