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Columbia, SC, February 15, 2021
Weston, Inc., a privately held industrial property owner and developer based in Cleveland, OH, has acquired three vacant industrial properties in the greater Columbia, SC market, 6011 Shakespeare Road, 1030 Metso Way and 201 Metropolitan Drive, bringing their South Carolina portfolio to 45 properties consisting of nearly 8 million square feet.
In early 2020, Weston purchased approximately 5.5 million square feet of industrial assets in the largest single acquisition of properties in South Carolina in at least ten years, according to CoStar, and the largest transaction in Weston’s history. The company has plans to continue expanding their industrial real estate portfolio in the Southeast.
“Weston’s bullish growth in South Carolina is telling of our commitment to strengthen our presence as a top industrial landlord in the state,” said Tracy Green, Chief Strategy Officer of Weston, Inc. “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, SIOR, Dave Mathews, SIOR, Thomas Beard and John Peebles represented Weston in the purchase of their three new assets and will continue to represent Weston’s Southeast Industrial Properties portfolio in the leasing and marketing of the properties.
The Colliers | South Carolina and LCK team handling brokerage, marketing, accounting, property management and project management for Weston’s Southeast Industrial Properties portfolio includes a team of 34 professionals across the firm’s Columbia, Charleston, Greenville and Spartanburg offices.
Colliers’ Real Estate Management Services (REMS) team will provide management services; Thomas Scarborough will manage 6011 Shakespeare Road and 1030 Metso Way and Grant Butler will manage 201 Metropolitan Drive. LCK’s Dale Stigamier, CCIM serves as the project executive for management of capital improvements and tenant upfit projects.
6011 Shakespeare Road in Columbia consists of 14 industrial, flex, office and storage buildings totaling 98,072 square feet. The property formerly occupied by SCANA Gas Operations is being marketed as a prime location for last-mile delivery fulfillment, as the main building was formerly a cross-dock truck terminal and is located just one stoplight from I-20. Shortly after the purchase of the property, 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.
1030 Metso Way is a 239,015-square-foot manufacturing building in Columbia featuring 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 Qutotec USA (Metso Minerals), a frontrunner in sustainable minerals processing technologies, end-to-end solutions and services globally. The property is currently for lease.
201 Metropolitan Drive is a 310,500-square-foot manufacturing and warehouse building in West Columbia in the CAE Enterprise Park. The property features up to 30-foot clear heights, 23 truck doors, 12 cranes and heavy power. The property was formerly occupied by Akebono Brake Corporation, a Japanese automotive supplier.
Colliers International | South Carolina has over 150 staff members, including 65 licensed real estate professionals, covering the entire state with locations in Charleston, Columbia, Greenville and Spartanburg. Total 2019 brokerage volume exceeded $419 million, which included over 452 sales and leasing transactions. In addition to traditional commercial real estate representation services for our clients, the company is actively engaged in Corporate Solutions and Healthcare Services. Colliers International is an Accredited Management Organization (AMO) through the Institute of Real Estate Management (IREM) and is the largest manager of commercial real estate properties in South Carolina, with a portfolio of nearly 14 million square feet of office, industrial, retail and healthcare properties. Colliers International’s staff hold 44 professional designations, the most of any firm in South Carolina. Colliers | South Carolina’s partner, LCK, provides project management services for new facilities and renovations across South Carolina.
Colliers International (NASDAQ, TSX: CIGI) is a leading real estate professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn.
As one of the region’s largest privately held industrial property owner and developer, Weston owns a national industrial real estate portfolio of approximately 22 million square feet serving over 750 tenants. For nearly 50 years, it has exhibited experience and expertise in the areas of building ownership, development, acquisitions, facilities management, tenant services, financing, and leasing. Since its inception, Weston has been a leading choice of businesses with a distinctive vision of their real estate goals who seek flexible, practical solutions to their space needs offering a broad spectrum of commercial real estate services including acquisition, leasing and management services.