Weston sells Excello building

By STAN BULLARD

 2:08 pm, December 14, 2006 Weston Inc. of Solon has sold the Excello Engineered Systems Inc. building in Macedonia to Soclof Enterprises LLC, an investment firm in Beachwood.

Soclof paid $5.3 million Dec. 13 for the 113,000-square-foot warehouse at 8146 Bavaria Road, according to Summit County land records. Keystone-Opal Excello LLC, an investment partnership led by Weston, had acquired the building for $5 million on May 12.

The building is fully leased by Excello Engineered Systems, which manufactures three-dimensional films and foams for the automotive, medical, construction and packing markets, according to a news release.

James Asher, president of Weston, said the company has altered its traditional buy-and-hold approach to industrial real estate in order to capitalize on the current real estate market, in which investors have an appetite for fully leased, single-tenant industrial properties.

Weston and its investment affiliate, Keystone, have bought and sold more than $15 million of industrial property this year, Mr. Asher said, and expects to buy more than $60 million of property in the coming year.

Solon-based Weston has more than 75 properties in Greater Cleveland, as well as additional properties in other parts of the nation.

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Weston Inc.
29300 Aurora Road
Solon, Ohio 44139
Phone 440.349.9000

 

 

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