Whitestone’s Austin/San Antonio division’s occupancy now at 97.3%
HOUSTON, July 14, 2021 (GLOBE NEWSWIRE) — Whitestone REIT (or “Whitestone” or “the Company”) (NYSE:WSR) today announced that its Parkside Village South property is 100% occupied as it joins the South Austin community in celebrating the grand opening of Keepers Coastal Kitchen. This property milestone increases Whitestone’s Austin/San Antonio division’s occupancy to 97.3%.
Keepers Coastal Kitchen, a casual, family-friendly seafood concept — is one of two restaurants being introduced by restauranteurs, chef Amir Hajimaleki and his brother, Ali Hajimaleki. It shares 8,043 square feet in Whitestone’s 90,101-square-foot Parkside Village South with the Hajimaleki brothers’ other on-site restaurant, Oasthouse Kitchen + Bar, which is under construction and scheduled to open in Fall 2021.
Keepers Coastal Kitchen is joined by Parkside Village South’s curated mix of other tenants, including Alamo Drafthouse Cinema, Austin Diagnostic Center, SignatureCare Emergency Center, Austin Mail Express, Reid’s Cleaners and Laundry, Face to Face Spa, Summer Moon Coffee, tcby, and ATX Bikes.
“With a traffic count of 59,794 vehicles per day and an average household income of just under $100,000 within a 3-mile radius, Parkside Village South continues to be a dynamic 18-hour/day community hub, providing surrounding neighborhoods with a diverse range of essential goods and services by the tailored mix of eCommerce-resistant entrepreneurial tenants featured in this property,” said Chairman and CEO Jim Mastandrea.
“The quality of our properties managed by our skilled team, who also are shareholders, create a vibrant atmosphere for customers who visit our properties. This showcases our properties as highly desirable locations for growing businesses and consistent contributors of institutional value for our shareholders,” Mastandrea explained. “It is an excellent example of the strength of Whitestone’s business model and our 5.1 million-square-foot portfolio of 59 high-quality, open-air, lifestyle-focused properties that attract customers throughout the day and evening.”
About Whitestone REIT
Whitestone is a community-centered shopping center REIT that acquires, owns, manages, develops, and redevelops high-quality neighborhood centers primarily in the largest, fastest-growing and most affluent markets in the Sunbelt.
Whitestone seeks to create Communities That Thrive through Creating Local Connections between consumers in the surrounding communities and a well-crafted mix of local, regional and national tenants that provide daily necessities, needed services, entertainment, and experiences.
Whitestone (NYSE: WSR) pays monthly dividends to its shareholders and it has consistently done so for more than 15 years. Whitestone’s strong balanced and managed capital structure provides stability and flexibility for growth and positions Whitestone to perform well through economic cycles. For additional information, please visit www.whitestonereit.com.
Safe Harbor Statement
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Company intends for all such forward-looking statements to be covered by the safe-harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act, as applicable. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “should,” “could,” “would,” “predicts,” “potential,” “continue,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” or similar expressions or their negatives, as well as statements in future tense. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, beliefs and expectations, such forward-looking statements are not predictions of future events or guarantees of future performance and our actual results could differ materially from those set forth in the forward-looking statements. For a description of certain of such factors, see the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, and the Company’s other filings with the Securities and Exchange Commission. Any forward-looking information presented herein is made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.
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Vice President, Corporate Communications
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/829ed138-7c26-4a74-b7c2-68606cce7e6c