Weston purchased a 50,000 square foot industrial building at 4400 Carnegie Ave. in Midtown Cleveland.
Weston determined that Mace Security International was in the Cleveland market looking for space and the relationship began.
Mace signed a 10 year lease to move its world headquarters and manufacturing operations from Vermont to Midtown Cleveland.
Weston provided temporary space to Mace while tenant improvements were completed in their new location.
he build-out was extensive which included approximately $1M in construction to the facility.
The financing was multi-layered including a first mortgage from a local lending institution and support from the City of Cleveland and Cuyahoga County.
The property has developed into a stabilized asset with a projected cash on cash return of 15%.
