Whitestone REIT Announces 100% Lease Up and Development Completion of The Anthem Marketplace Pad Site in Arizona
Whitestone REIT Common Shares (WSR)
Last whitestone reit common shares earnings: 2/26 04:15 pm
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whitestonereit.com
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Source: GlobeNewswire
HOUSTON, Sept. 10, 2019 (GLOBE NEWSWIRE) -- Whitestone REIT (NYSE:WSR) (“Whitestone” or the “Company”) today announced the recently completed, 6,853 square foot, multi-tenant pad site at the Anthem Marketplace property in Arizona is now 100% leased. The new development is expected to generate an annual unlevered return on total cost of 10.5%, with tenant lease terms averaging 7.5 years. Jim Mastandrea, Chairman and Chief Executive Officer, commented, “This completion demonstrates the value-add component of Whitestone REIT’s ‘e-commerce resistant’ business strategy. The development of this residual land that we acquired at little to no cost during the initial acquisition, enhances the value of the overall community, and is a key element of our innovative, scalable and sustainable business model.” Mr. Mastandrea added, “The total cost to acquire the land, construct and lease the new development was approximately $2.2 million. Valuing the property at a 6.4% cap rate (1) creates over $
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News
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- Whitestone REIT Publishes Investor Presentation Highlighting Execution of Our Strategy to Continue Driving Long Term Sustainable Value Creation [Yahoo! Finance]Yahoo! Finance
- Whitestone REIT Publishes Investor Presentation Highlighting Execution of Our Strategy to Continue Driving Long Term Sustainable Value CreationGlobeNewswire
- EREZ ASSET MANAGEMENT RELEASES PRESENTATION OUTLINING THE CASE FOR CHANGE AT WHITESTONE REIT [Yahoo! Finance]Yahoo! Finance
WSR
Earnings
- 3/6/24 - Miss
WSR
Sec Filings
- 4/26/24 - Form DFAN14A
- 4/24/24 - Form DEFA14A
- 4/24/24 - Form DEFA14A
- WSR's page on the SEC website