Whitestone Enhances Tenant Combine, Improves Occupancy by 3.5%, and Improves NOI by 6.3% at Its Fountain Hills Plaza Home in AZ Adds AutoZone to its Superior Quality, E-Commerce Resistant Tenant Base
HOUSTON, March 02, 2021 (World NEWSWIRE) — Whitestone REIT will get “Into the Zone” by introducing AutoZone to its Fountain Hills Plaza residence in Arizona.
With the signing of AutoZone, Whitestone elevated residence occupancy by 3.5% and house net functioning profits by 6.3% by undertaking what it does very best, crafting the optimum mix of tenants to meet up with the requirements of the community local community. The addition of the Fortune 500 organization also increases the high quality of income flows to Whitestone’s shareholders and aids warranty the extended-expression stability of the assets. AutoZone joins other important tenants Bashas’ grocery store, Ace Hardware, and Verizon Wireless.
Chairman and CEO Jim Mastandrea commented, “Fountain Hills Plaza has been an vital staple in the local community of Fountain Hills, providing for the community all through COVID as evidenced by the consistent foot traffic we ended up able to observe more than the earlier eleven months of the pandemic. In point, knowledge sourced from our inside artificial intelligence system has shown genuine raises in 12 months-above-year foot traffic for the duration of 15 weeks of the pandemic. This sort of info speaks to the significantly essential position our centers perform in the day to day lives of our neighborhoods. The vital top quality of our homes in turn, can help bring in good quality tenants who want to gain from the continuous and consistent client visits to our centers.”
About AutoZone
AutoZone is the nation’s top retailer and a primary distributor of automotive replacement sections and components with additional than 6,000 suppliers in US, Puerto Rico, Mexico, and Brazil. Every single retail store carries an comprehensive line for cars and trucks, sport utility automobiles, vans and light-weight vans, together with new and remanufactured difficult sections, upkeep objects and add-ons. Because opening its initial retailer in Forrest City, Ark. on July 4, 1979, the corporation has joined the New York Stock Exchange (NYSE: AZO) and earned a place in the Fortune 500.
About Whitestone REIT
Whitestone is a local community-centered purchasing center REIT that acquires, owns, manages, develops and redevelops high-high quality community facilities generally in the premier, speediest-increasing and most affluent markets in the Sunbelt.
Whitestone seeks to produce Communities That Thrive by way of Making Regional Connections concerning individuals in the surrounding communities and a properly-crafted combine of nearby, regional and national tenants that deliver day-to-day necessities, wanted expert services, leisure and encounters.
Whitestone is a monthly dividend paying stock and has continually paid dividends for in excess of 15 yrs.
Whitestone’s solid balanced and managed money framework presents steadiness and flexibility for advancement and positions Whitestone to perform perfectly as a result of financial cycles. For more data, be sure to take a look at www.whitestonereit.com.
Investors Call:
Kevin Reed, Director of Trader Relations
Whitestone REIT
(713) 435-2219
[email protected]