Weston Inc., a Cleveland-based property owner and developer, continues to acquire properties in the Midlands.
Weston, with nearly 7 million square feet in its SC portfolio of 45 properties, has acquired a vacant 182,160 square foot industrial building at 3240 Brittain Drive in Newberry.
Last February, Weston acquired three vacant properties in the large Columbia market, located at 6011 Shakespeare Road, 1030 Metso Way and 201 Metropolitan Drive to expand its Southeast Industrial Property Portfolio.
The acquisition came after a strong push in the state the previous year. In February 2020, Weston purchased 5.5 million square feet of industrial assets across Carolina Industrial Properties’ 37 properties. The 16-county, 57-tenant portfolio represented the largest single acquisition in South Carolina in at least 10 years, according to commercial real estate data provider CoStar, and was the largest transaction in Weston history.
Necklaces | Caroline from the southThe industry brokerage team of Chuck Salley, Dave Mathews, Thomas Beard and John Peebles represented Weston in the purchase of the Newberry property.
“Weston views this property at Newberry as a value-added investment and is planning several upgrades that will increase the property’s functionality for a new user,” Weston asset manager Eileen McConville said in a Colliers press release. “We know Newberry County will attract a healthy pool of prospects to lease the building because it’s a great county to do business with and the quality of life is great.”
Grant Butler of Colliers’ Real Estate Management Service division will manage the property, while LCK, a project management subsidiary of Colliers, will oversee and manage capital improvements in preparation for building occupancy.
“There is a shortage of rail-served buildings in South Carolina, especially buildings with a spur and switch in place,” said Salley, vice president and manager of Colliers’ Columbia’s industrial brokerage team. . “As well as being serviced by rail, 3240 Brittain Drive has excellent truck loading, trailer storage and outdoor storage facilities.”
Contact Melinda Waldrop at 803-726-7542.