HOUSTON, July 21, 2014 (GLOBE NEWSWIRE) -- Whitestone REIT (NYSE:WSR) ("Whitestone"), a fully integrated real estate company that owns, operates and re-develops Community Centered PropertiesTM, announced the opening of the fifth location of Goodnight Pediatrics, an all-night children's urgent care facility, at its Gilbert Tuscany Village Property.
Gilbert Tuscany Village is a family-focused center surrounded by young family residential developments with household incomes over $100,000 and is just over one mile from Banner Gateway Medical Center. Goodnight Pediatrics will join other recently opened Gilbert Tuscany Village tenants: Everybody Loves Fondue, Actor's Youth Theater and Decadence Boutique, along with additional tenants including Henhouse Café, Salon Di Bella, Rise Up Bread Co., Rancho de Tio Rosa restaurant, State Farm Insurance and Karve Studio.
James C. Mastandrea, Whitestone's Chairman and Chief Executive Officer, said, "Whitestone purchased Gilbert Tuscany Village out of foreclosure from a private lender for $5 million in 2011. Since ownership, we have significantly increased occupancy, assembled a complementary tenant mix and added value to the center through applying our business model."
About Whitestone REIT
Whitestone REIT (NYSE:WSR) is a fully integrated real estate investment trust ("REIT") that owns, operates and redevelops Community Centered PropertiesTM. Whitestone focuses on value creation in its community centers, concentrating on local service-oriented tenants that comprise approximately 70% of its tenants. Whitestone's diversified tenant base provides service offerings including medical, education, casual dining, and convenience services. The largest of its 1,225 tenants comprised less than 1.9% of its annualized base rental revenues as of March 31, 2014. Founded in 1998, the Company is internally managed with a portfolio of 61 commercial properties in Texas, Arizona, and Illinois. For additional information about the Company, please visit www.whitestonereit.com.