January 8, 2021
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.
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