Whitestone REIT Expands with 5000 South Hulen Acquisition in Fort Worth

Whitestone REIT, a community-centered real estate investment trust, has acquired 5000 South Hulen, an 86,907 square-foot high-volume shopping center in Fort Worth, Texas. This acquisition marks the company's 29th asset in Texas and the 10th in the Dallas-Fort Worth metroplex, enhancing its strategic positioning in a fast-growing region. The asset is strategically located in a flourishing retail corridor, close to major highways and affluent neighborhoods, and is adjacent to Hulen Mall, one of the most visited malls in the area. Whitestone's President and COO, Christine Mastandrea, emphasized that the acquisition aligns with their investment strategy, leveraging market knowledge to maximize asset value and re-merchandising opportunities to meet community needs. The acquisition is expected to bolster Whitestone's portfolio performance and increase shareholder value. CEO Dave Holeman noted the opportunity for enhanced operational growth through the in-place leasing and management teams. Whitestone REIT operates open-air retail centers in several high-growth markets and is focused on service-oriented tenants that meet the community's needs. This acquisition reflects Whitestone's strategic approach to expanding its market footprint while adhering to its investment thesis.