Whitestone REIT Acquires 5000 South Hulen in Fort Worth, Texas

Core Viewpoint - Whitestone REIT has acquired a high-volume shopping center, 5000 South Hulen, in Fort Worth, Texas, positioning itself to benefit from strong neighborhood dynamics and upcoming developments in the area [1][2]. Company Overview - Whitestone REIT is a neighborhood-focused real estate investment trust (REIT) that operates open-air shopping centers primarily in Texas and Arizona [7]. - The company emphasizes community connections and tenant relationships as key components of its acquisition strategy and operational success [8]. Acquisition Details - The newly acquired shopping center spans 86,907 square feet and is strategically located near Hulen Mall, the most visited mall within a 30-mile radius [1][5]. - The center is situated between two major thoroughfares, I-20 and Hulen Street, which collectively attract over 182,000 vehicles daily [5]. - The surrounding area has a population of over 300,000 residents within a 5-mile radius, with an average household income of $113,520, resulting in approximately $14 billion in spending power [5]. Strategic Implications - The acquisition marks Whitestone's 29th asset in Texas and its 10th in the Dallas-Fort Worth metroplex, reinforcing its presence in one of the fastest-growing states in the U.S. [1][6]. - The company plans to leverage its existing leasing and property management teams to enhance operational efficiency and drive earnings growth [6].