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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Testimonial
Tom Hensley, Director of Operations, comments on the recent completion of their 90,000 SF expansion
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Testimonial
Owner Dan Zenisek discusses his experience working with Weston
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Testimonial
Greg Blanc speaks about his relationship with Weston over the last 30 years
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