HOUSTON, July 28, 2014 (GLOBE NEWSWIRE) -- Whitestone REIT (WSR) ("Whitestone"), a fully integrated real estate company that owns, operates and re-develops Community Centered PropertiesTM, announced the opening of five new tenants at The Shops at Starwood, located in Frisco, Texas.
The Shops at Starwood is surrounded by neighborhoods with average household incomes well over $100,000 and is located on the Dallas North Tollway, a community artery with an average of 30,000 vehicles per day in passing traffic. The lifestyle-oriented center is also less than one mile from the future Dallas Cowboys Headquarters and the new Texas Scottish Rite Hospital for Children. New tenants Glambo Lily, Juicer Heroes, DFW Watches, Thinopoly and Main Street Boutique have recently joined current Starwood tenants including TruFire Kitchen, Century 21, Nationwide Insurance, Bonnie Ruth's Patisserie, Paper Affair and Kotta Sushi Lounge & Bar.
James C. Mastandrea, Whitestone's Chairman and Chief Executive Officer, said, "Whitestone purchased The Shops at Starwood in 2011 with the value-add potential to add another 36,000 square feet of retail and executive office space on the adjacent 2.73 acre land parcel. Development of the additional square footage of retail and executive office space is expected to begin construction in 2015."
About Whitestone REIT
Whitestone REIT (WSR) is a fully integrated real estate investment trust ("REIT") that owns, operates and redevelops Community Centered PropertiesTM. Whitestone focuses on value creation in its community centers, concentrating on local service-oriented tenants that comprise approximately 70% of its tenants. Whitestone's diversified tenant base provides service offerings including medical, education, casual dining, and convenience services. The largest of its 1,225 tenants comprised less than 1.9% of its annualized base rental revenues as of March 31, 2014. Founded in 1998, the Company is internally managed with a portfolio of 61 commercial properties in Texas, Arizona, and Illinois. For additional information about the Company, please visit www.whitestonereit.com.
- Real Estate
Robin Oloyede - Director of Marketing
(713) 435-2256 ROloyede@WhitestoneREIT.com
Suzy Taylor, Director of Investor Relations
(713) 435-2219 STaylor@WhitestoneREIT.com