Weingarten Realty Announces Sale of 100,600 Square Foot Jester Plaza Service Center in Northwest Houston

• Press Release
• Source: Weingarten Realty
• On 10:58 am EDT, Tuesday October 27, 2009

HOUSTON--(BUSINESS WIRE)--Weingarten Realty (NYSE: WRI - News) announced today the sale of a 100,600 square-foot industrial service center on 5.6 acres to Jester Plaza, Ltd. The property is located near-Northwest Houston on TC Jester Boulevard near Loop 610. Terms of the sale were not disclosed.

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“This divestiture is consistent with Weingarten’s ongoing corporate strategy to dispose of non-core real estate assets,” according to Kelly Landwermeyer, Vice President/Director – Industrial Properties.

Karen Stumbough, who represented Jester Plaza, Ltd, said, “My client was attracted to Jester Plaza because the property was already 90 percent leased and is ideally located near a number of major highways.”

Negotiations were handled by David Boyd, Principal of Boyd Commercial Real Estate Services, on behalf of Weingarten.

About Weingarten Realty Investors

Weingarten Realty Investors (NYSE: WRI - News) is a commercial real estate owner, manager and developer. At September 30, 2009, the company owned or operated under long-term leases, either directly or through its interest in real estate joint ventures or partnerships, a total of 385 developed income-producing properties and 13 properties under various stages of construction and development. The total number of properties includes 315 neighborhood and community shopping centers located in 22 states spanning the country from coast to coast. The company also owns 80 industrial projects located in California, Florida, Georgia, Tennessee, Texas and Virginia and three other operating properties located in Arizona and Texas. At September 30, 2009, the company’s portfolio of properties was approximately 72.3 million square feet.

Weingarten Realty
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Carrie Murray, 713-866-6959