Seeking Alpha

Whitestone updates progress on Fountain Square turnaround

  • Whitestone REIT (WSR +0.9%) purchased the 118K square foot Fountain Square - located in northern Phoenix - out of foreclosure in 2012 for $130 per square foot. It has since redeveloped and repositioned the Safeway "shadow anchored" property, adding a number of new tenants and increasing the occupancy.
  • Whitestone now owns nearly 2M square feet of leasable space in the greater Phoenix area across 17 community centered properties.
  • Source: Press Release
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