280,000 Square Feet in South Carolina

• Weston/Keystone was contacted by Landmark Plastics, a company that decided to sell their single
tenancy manufacturing facility to reinvest capital in their business because of pressure from
overseas competition.

• A 15 year lease was negotiated and the transaction closed in April 2005 for $7.1M, of $33 per
square foot.

• The 212,500 square foot facility on 55 acres included 12,000 square feet of executive offices, 22’ clear masonry construction, and over 15 docks.

• Weston/Keystone anticipated a long-term hold, but sold this large asset 8 months later to a west
coast investor for over $9.0M.

• Weston/Keystone will do a 1031 Exchange with the proceeds of this sale.

280,000 Square Feet in South Carolina

 

• Weston purchased a 280,000 square foot distribution facility on 35 acres in South Carolina with an 80,000 square foot vacancy.

• The building is tilt up concrete construction built in 2002.

• The purchase included an opportunity to add value by constructing a 200,000 square foot building
on the additional acreage.

• Purchase was made with a capitalization rate of 8.1% with an 80,000 SF vacancy and 14 acres of
additional land. Cash on cash returns will grow to 12% over a 10 year period.

• North Carolina and South Carolina are considered growth markets because of its increasing population
and state industry growth.

400,000 Square Foot Warehouse/Distribution

 

• Built in 2003, this state of the art facility is 400,000 square feet with 24 docks and 30’ ceilings which is prized by distributors. The property benefits from its close proximity to Cleveland Hopkins International Airport as well.

• The large warehousing facility was left empty in late 2005 following the closing and Chapter 11
bankruptcy filing of the former tenant that was on a build-to-lease basis.

• Converted from single tenancy to a multi-tenant warehouse facility.

• The acquisition was new construction with nationally recognized tenants.

• Weston bought the building empty but has secured a tenant for half of the space within the first
month of ownership.

• Based on stabilized assumptions cash on cash yield will be 13.25%, growing to 18.5% over a 10
year holding period.

200,000 Square Feet in Georgia, North Carolina, South Carolina

Weston purchased 6 retail centers in 5 different cities in the Southeast that are a shadow anchor of Super Wal-Mart.

North Carolina and South Carolina are considered growth markets because of its increasing population and state industry growth. The acquisition was new construction with nationally recognized tenants. Properties were stabilized when purchased.

The properties are projected to yield an 8.6% Rate of Return growing to 12% over a holding period of 10 years.

1,500,000 Square Feet in 6 States

Goodyear Portfolio Acquisition

Weston completed a $60 million sale/leaseback transaction from Goodyear Tire and Rubber Company.
The transaction comprised of 6 buildings totaling 1.5 million
square feet in California, Georgia, Maryland, Michigan, Texas,
and Utah. Weston was able to negotiate staggered lease expirations over a 4 year period thus allowing us to re-tenant and re-establish each building individually.

Weston held true to its strategy to re-establish and sell 4 of the 6 buildings for their upside potential. The other 2 buildings remain in the portfolio today.