Hitting Our Stride in South Carolina
- Weston purchased a 280,000 square foot distribution facility on 35 acres in South Carolina with an 80,000 square foot vacancy.
- The building is tilt up concrete construction built in 2002.
- The purchase included an opportunity to add value by constructing a 200,000 square foot building on the additional acreage.
- Purchase was made with a capitalization rate of 8.1% with an 80,000 SF vacancy and 14 acres of additional land. Cash on cash returns will grow to 12% over a 10 year period.
- North Carolina and South Carolina are considered growth markets because of its increasing population and state industry growth.