Construction Today - January 2017 - 19
COVER STORY: WESTON INC.
foot facility on the site in September. Weston is the developer,
construction manager and landlord on the project. "We found an
older industrial building on the site that was not in good shape,
and wanted to pursue a project there because of its location,"
Asher says. "We tore the building down and built this one from
the ground up."
Growing Its Footprint
Weston is also working toward its acquisition goals in part by
entering new markets. "We change with the markets as best as
we can," Asher says, noting that the company cut expenses and
readjusted its acquisition strategy during the Great Recession.
"Today, the industrial segment in Northeast Ohio is doing very
well. We're looking at various properties to make sure we're
positioned in the right markets and have the right product mix
for what's happening in the region."
One change in the market the company has needed to respond
to is tenants' needs for modern systems and amenities. "We used
to be able to buy manufacturing facilities and re-tenant them,
but today tenants are more conscious of efficiency," he adds.
"We're consciously working on adding more new development
work as well as build-to-suit transactions on land that we own."
Columbus, Ohio, and Charlotte, N.C., are two geographic
markets that Weston is looking to improve its presence in. "We're
focusing our industrial real estate acquisitions there over the
next few years to contribute to our goal of owning 50 million
square feet," Asher says.
JANUARY 2017 CONSTRUCTION-TODAY.COM