These Investment Metrics Are Worth Bragging About
Weston purchased a 400,000 sq. ft. industrial distribution facility on 45 acres in Greenville, SC.
- Weston purchased a 400,000 square foot industrial distribution facility on 45 acres in Greenville, South Carolina with 322,000sf leased to Josten’s Inc. and Lanxess Corp., a division of Bayer Chemical.
- At the time of acquisition the facility was 82% leased.
- The building is tilt up concrete construction with 28′ ceilings and ample dock doors.
- Projections at the time of acquisition were that the building would be 100% leased in one year. This goal was accomplished in 6 months by securing Gray Interplant Systems.
- A partnership was completed with an institutional investor.
- The purchase was made with a capitalization rate of 8.5%. Cash on cash at the time of purchase was 10%, and it grew to 12% after the vacancy was filled.
- In 2012, the property was sold to a large institutional buyer.
- A 30% IRR was achieved by the partnership at the time of sale.
download pdf
Testimonial
Tom Hensley, Director of Operations, comments on the recent completion of their 90,000 SF expansion
learn more
Testimonial
Owner Dan Zenisek discusses his experience working with Weston
learn more
Testimonial
Greg Blanc speaks about his relationship with Weston over the last 30 years
learn more