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9/20/21
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MAG Capital Partners, LLC has acquired 200 Commerce Street and 4920 Franklin Avenue in Waco, Texas, which has served as the Hobbs Manufacturing headquarters since 1993. Totaling 402k sf of space, the manufacturing and distribution facilities are located steps apart on an approximately 27.3-acre site.
“Waco has fantastic market fundamentals and benefits from its location in the heart of Texas between Dallas-Fort Worth and Austin,” said Dax T.S. Mitchell, principal of MAG Capital Partners. “Hobbs has re-committed long term to its strategic location in Waco, which will continue to serve the firm well for many years to come.”
Hobbs Manufacturing was originally founded in 1953 and by 1963 was a leader in the development of synthetic fiber batting and other fiberfill products for the apparel, home furnishings and industrial markets. The company employs some 200 people at its Waco plant in the manufacture of products used to make sound-dampening material for the automotive industry; surgical face masks for the health care field; wipes to clean up chemical spills; industrial filtration systems; and insulation for garments and military sleeping bags, jackets and arctic wear.
More recently, Hobbs has expanded its business by contracting to manufacture dispersion vacuum filters for F-22 and X-35 fighter jets, and the company has also negotiated an exclusive marketing and manufacturing agreement with DuPont on a potential application for canned beverages that would keep a product cold for a longer period of time.
MAG Capital Partners negotiated the transaction directly with the seller. The price was not given out.
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