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Texas  + Net Lease  |  January 8, 2021
Paul Bubny
By: Paul Bubny

CushWake Arranges SLB in Waco, Northeast PA

Cushman & Wakefield arranged a $29-million sale-leaseback on behalf of Time Manufacturing Company, a global designer, manufacturer, and distributor of vehicle-mounted aerial lifts primarily for the electric utility, telecom, infrastructure, and forestry end markets. The 440,177-square-foot sale-leaseback includes two facilities in Waco, TX, and Bethlehem, PA. W. P. Carey will be the new landlord.

Maureen Kelly Cooper, Robert Elms, Michael Thomas, Anthony Pasqual and Steven LaKind of Cushman & Wakefield represented Time Manufacturing Company in the negotiation.

“The company has been at the Waco location since 1971 and the 20-year sale-leaseback further commits Time Manufacturing Company to both these locations for years to come,” said Cooper. “The properties are strategically located within Central Texas and on the East Coast with prime access to major markets. There has been strong demand in the investor market for industrial product so the timing was ideal for a long-term sale-leaseback.”

Pictured: 7601 Imperial Dr., Waco.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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