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Weston Inc. expands Southeast portfolio with 3 properties

Staff Report //February 16, 2021//

Weston Inc. expands Southeast portfolio with 3 properties

Staff Report //February 16, 2021//

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Cleveland-based industrial property owner and developer Weston Inc. has acquired three vacant industrial properties in the greater Columbia market, bringing its South Carolina portfolio to 45 properties totaling nearly 8 million square feet.

A 239,015-square-foot manufacturing building at 1030 Metso Way in Columbia is one of three industrial properties in the greater Columbia market purchased by Weston Inc. (Photo/Provided) In February 2020, Weston purchased 5.5 million square feet of industrial assets in the 37-property Carolina Industrial 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’s history.

The newly purchased properties, located at 6011 Shakespeare Road, 1030 Metso Way and 201 Metropolitan Drive, are part of the company’s plans to continue expanding its Southeast real estate portfolio, according to a news release from Colliers South Carolina, which represented Weston in the purchase.

“Weston’s bullish growth in South Carolina is telling of our commitment to strengthen our presence as a top industrial landlord in the state,” Tracy Green, Weston chief strategy officer, said in the release. “Our priority is to provide homes for businesses by finding solutions that create value. This could not be truer as we are navigating the hurdles of the COVID-19 pandemic. We look forward to continuing to take a strategic approach to accommodating tenants through our partnership with Colliers’ brokerage and property management teams and with LCK as our project manager.”

Colliers’ Columbia industrial brokerage team of Chuck Salley, Dave Mathews, Thomas Beard and John Peebles will continue to represent Weston’s Southeast Industrial Properties portfolio in the leasing and marketing of the properties. Colliers’ real estate management team will provide property management services, with Thomas Scarborough managing 6011 Shakespeare Road and 1030 Metso Way and Grant Butler managing 201 Metropolitan Drive.

LCK’s Dale Stigamier will serve as the project executive for management of capital improvements and tenant upfit projects.

The 98,072-square-foot property at 6011 Shakespeare Road in Columbia includes 14 industrial, flex, office and storage buildings and was formerly occupied by SCANA Corp.’s gas operations. The main building was formerly a cross-dock truck terminal and is located near Interstate 20. Colliers facilitated a 14,497-square-foot lease with Incorp Industries to occupy two of the buildings. Five buildings and seven covered storage sheds totaling 83,575 square feet remain available for lease.

The 239,015-square-foot manufacturing building at 1030 Metso Way in Columbia features up to 40-foot clear heights, 10 truck doors, heavy power, a modern office, a paint booth and 12 heavy duty bridge cranes. The property was formerly owned and occupied by Metso Outotec USA and is currently for lease.

The 310,500-square-foot manufacturing and warehouse building at 201 Metropolitan Drive is located in West Columbia’s CAE Enterprise Park. The property, formerly occupied by Japanese auto supplier Akebono Brake Corp., features up to 30-foot clear heights, 23 truck doors, 12 cranes and heavy power.

Whaley Assemblage near Hartsville sells for $1.16 million

NAI Columbia’s Tombo Milliken, Tom Milliken and Nelson Weston III, represented the estate of Baynard Whaley in the sale of approximately 100 acres of land near Hartsville. The infill property includes five separate land tracts which sold for a combined $1.16 million.

“We were proud to have assisted our client in the sale of these land tracts,” said Tombo Milliken, NAI Columbia senior broker and principal. “The new owners include investors, developers and neighbors looking to either build a new residence or preserve the property.”

The 100 acres that make up the Whaley Assemblage are situated along one mile of road frontage on Forest Drive, Trailwood Drive and Golf Course Road. The property features a house overlooking a six-acre pond and is near Hartsville Country Club and Sonoco Products Co.