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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- MCB Calls on Whitestone to Maximize Shareholder ValuePR Newswire
- Whitestone REIT Responds to MCB Indication of InterestGlobeNewswire
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WSR
Earnings
- 10/30/24 - In-Line
WSR
Sec Filings
- 11/5/24 - Form 3
- 11/5/24 - Form 3
- 11/5/24 - Form 8-K
- WSR's page on the SEC website