How Weston Identifies a Value Add Acquisition
The properties consist of 3 buildings with high visibility on a well-traveled road.
- Weston became aware that a 115,000 SF office complex in Warrensville Heights, OH was going into receivership the summer of 2013.
- Working with the receiver and previous owner, Weston was able to structure a mutually acceptable arrangement and purchase the property in August of 2013.
- The properties consist of 3 buildings with high visibility on a well-traveled road.
- It is Weston’s intention to relocate their corporate offices to the complex; by doing so it will increase the occupancy of the property to over 80%.
- Despite being 25% vacant at purchase, the property has an acceptable cash on cash return and will only get better as the vacancy is leased over the next year.
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Acquisition
Office-to-industrial conversion case study showcasing Weston's adaptive reuse strategy in Opelika
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Development
Weston completes the expansion and sale of a 317,865 SF industrial facility in Bishopville, SC
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Disposition
Weston sold a 10,320 SF Columbia office building to further its industrial-focused portfolio.
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