Weston acquires an industrial warehouse portfolio in Charlotte, NC; Greenville-Spartanburg, SC; Raleigh-Durham, NC; and Augusta, SC; called the Carolina Industrial Portfolio, it consists of a collection of five industrial assets totaling over 1.5 million square feet.
Located in some of the most desirable industrial markets in the Southeast, the Portfolio offers unrivaled exposure to favorable business environments. It is geographically distributed across four Southeastern industrial markets providing diversification and a gateway into strong Southeastern economic regions.
Jamey Asher, CEO of Weston, says it best, “Because the asset is 100% occupied by solid tenants it will provide a steady income stream with upside and an exceptional cash on cash return. That was the deciding factor on the purchase.” The acquisition fits right in with the strategic goals of Weston. Recently closing on another 1.5m sf purchase in Indianapolis, the company is poised to continue its industrial growth plans.
The acquisition was bank financed and made in partnership with Blue Vista Capital Management, a real estate investment management company based in Chicago, Illinois.