HOUSTON--(BUSINESS WIRE)--
Whitestone REIT (NYSE-Amex: WSR – “Whitestone”), a real estate
investment trust that acquires, owns and operates Community Centered
PropertiesTM, today announced that Mattress FIRM® has
executed the lease of a 4,000 square foot building on a pad site at
Windsor Park Centre in Windcrest, near San Antonio, and plans to open
for business in the summer of 2012.
Windsor Park Centre, owned and managed by Whitestone REIT, currently
consists of approximately 200,000 square feet of gross leasable area and
fronts northbound Interstate 35 at Walzem Road in the City of Windcrest.
The site is easily accessed with newly constructed exit/entrance ramps
directly in front of the property servicing northbound Interstate 35.
The Community Center, with Mattress FIRM®, includes Ross Dress for
Less®, The University of Phoenix®, Michaels®, Cavender’s Boot City,
Office Depot® and PetSmart®.
“The addition of Mattress FIRM® at Windsor Park Centre is the result of
an added out parcel which the City of Windcrest granted with the
redevelopment by Whitestone of the center. The additional 4,000 square
feet of leasable space, combined with our recently announced Ross Dress
for Less® and other new tenants Whitestone has brought into this center
have significantly increased the sales tax generating revenues for the
City of Windcrest from Windsor Park Centre,” said James C. Mastandrea,
Whitestone’s Chairman and Chief Executive Officer. “This final phase of
construction in our redevelopment of Windsor Park Centre will begin in
the first quarter of 2012.”
Dan Nixon, Senior Vice President and Regional Director, and Richard
Vaughan, Vice President of Leasing and Development, both of Whitestone
REIT, represented Whitestone REIT as landlord, while Brian Lent of
Highline Real Estate Group, Dallas, represented Mattress FIRM®.
About Mattress FIRM®
Houston-based Mattress FIRM® (www.mattressfirm.com)
is one of the nation's premier specialty bedding retailers, offering a
broad selection of both traditional and specialty mattresses from
leading manufacturers, including Tempur-Pedic®, Sealy®, Simmons® and
Stearns & Foster®. Founded in 1986, Mattress FIRM's® purpose is to
improve lives one night at a time. With more than 700 stores across 24
states, Mattress FIRM® offers consumers the benefit of highly trained,
knowledgeable sales professionals, a broad product offering, and
competitive prices in an attractive and comfortable store environment.
Mattress FIRM® is majority owned by J.W. Childs Associates, L.P.
("JWC"), a private equity firm based in Boston, MA investing in
middle-market consumer products and specialty retail growth companies.
Since 1995, JWC has invested in more than 40 companies with a total
transaction value of over $12 billion.
About Whitestone REIT
Whitestone REIT is a fully integrated real estate company that owns,
operates and re-develops Community Centered PropertiesTM,
which are visibly located properties in established or developing
culturally diverse neighborhoods. Whitestone focuses on value-creation
in its Centers, as it markets, leases and manages its Centers to match
tenants with the shared needs of surrounding neighborhoods. Operations
are structured for providing cost-effective service to local
service-oriented smaller space tenants (less than 3,000 square feet).
Whitestone has a diversified tenant base concentrated on service
offerings such as medical, education, and casual dining. The largest of
its over 800 tenants comprises less than 2% of its rental revenues.
Headquartered in Houston, Texas and founded in 1998, the Company is
internally managed with a portfolio of commercial properties in Texas,
Arizona, and Illinois. For additional information about the Company,
please visit www.whitestonereit.com.
The investor section of the Company's website has links to SEC filings,
news releases, financial reports and investor newsletters.
Forward-Looking Statements
Statements included herein that state the Company's or management's
intentions, hopes, beliefs, expectations or predictions of the future
are "forward-looking" statements within the meaning of the Private
Securities Litigation Reform Act of 1995, which by their nature, involve
known and unknown risks and uncertainties. The Company's actual results,
performance or achievements could differ materially from those expressed
or implied by these statements. Reference is made to the Company's
regulatory filings with the Securities and Exchange Commission for
information or factors that may impact the Company's performance.
Whitestone REIT
Anne Gregory, 713-435-2219
Vice
President Marketing & Investor Relations
agregory@whitestonereit.com
or
Mattress
FIRM
Sunni Goodman, 713-343-3579
sunni.goodman@mattressfirm.com
Source: Whitestone REIT