Construction Today - January 2017 - 17
COVER STORY: WESTON INC.
was the developer and construction
manager for 18301 Brookpark, a new indoor
racing facility in Cleveland.
named goal, while the "50" refers to 50 million square feet, the amount of total leasable
space Weston wants to eventually acquire.
Established in 1972, the family owned
company is already on the way to its acquisition goal, as it owns and leases more than 12
million square feet of space. Weston acquires,
manages, leases and develops properties
in Ohio, Kentucky, North Carolina, South
Carolina, Texas, Nevada, Georgia, Maryland
and New Jersey. "We are one of the largest
privately owned real estate companies in
Northeast Ohio," says Suzanne Broadbent,
Weston's dealmaker and Asher's sister.
The "90" in "50/90/BLT" denotes Weston's
desired occupancy rate. Achieving this goal
is well within the company's reach, as it continuously works to maintain and improve its
relationships with its tenants. The company
has more than 550 tenants in its properties.
Although the majority of its properties are
industrial/warehouse sites, the company
also owns and manages multifamily properties and has a division devoted to commercial parking lot development. "We have
a good standing in the community - people
know who we are and what we do," Asher
says. "We pride ourselves on being a hands-on company that takes
care of our tenants' needs."
For Weston, taking a hands-on approach to tenants means quickly
responding to any issue that may arise at one of its properties. "We
dive into any issue or objection that may come up on a lease or
contract. We believe in going the extra mile," he adds. "Sometimes,
it may not be our responsibility to fix something, but we will do it
to make the tenant happy. There may not always be a quick fix or
easy answer to an issue, but we believe in handling it as quickly as
possible and being responsive."
The company works in a similar manner with its vendors and
brokers. "Everyone knows that we pay on time and are fair, honest
and loyal," Broadbent says. "If somebody gives us good business, we
will go back to them and ask for repeat business."
Weston believes in retaining a regular pool of strategic partners
including bankers, lawyers and contractors. "We use the best person
for each assignment," the company says. "Our vendors all contribute
to our success based on the work that they do, and help us get the
job done right."
Weston in recent years has added residential properties to its
portfolio. One of the company's largest residential developments is
a three-story garden-style apartment complex in Perrysburg, Ohio.
The first phase of the complex, completed in 2011, involved building
140 apartment units; the company this year completed an additional
108 units, Broadbent says.
JANUARY 2017 CONSTRUCTION-TODAY.COM