WHITESTONE REIT

Whitestone REIT (NYSE: WSR) is a community-centered real estate investment trust (REIT) that acquires, owns, operates, and develops open-air, retail centers located in some of the fastest growing markets in the country: Phoenix, Austin, Dallas-Fort Worth, Houston and San Antonio... HOUSTON, Texas, June 13, 2023 - Whitestone REIT (NYSE:WSR) ("Whitestone" or the "Company") today announced the acquisition of Arcadia Towne Center in Phoenix, Arizona for $25.3 million. Arcadia is an affluent neighborhood surrounded by Camelback, Scottsdale, Paradise Valley and Tempe. The center expands Whitestone's footprint into prime Phoenix submarkets and is anchored by a top performing Safeway. The Safeway, with sales placing it within the top 10% of Arizona Safeways, is not part of the acquisition, but acts as a strong shadow anchor for the center. This will allow Whitestone to focus on aligning the non-anchor tenants to meet the needs of the surrounding community with service-oriented businesses.

Primary location: Houston United States