Whitestone REIT Acquires Shops at Pecos Ranch for $19M
Whitestone REIT (NYSE: WSR) announced today that it has closed on the off-market purchase of The Shops at
Pecos Ranch, a 78,767 square foot 100% leased Community Center in
Chandler, Arizona, for $18.95 million in an all-cash transaction. The
Center has in-place cash flow of approximately $1.6 million, or 8.4% of
the purchase price.
Whitestone REIT (NYSE: WSR) Acquired The Shops at Pecos Ranch for $19 Million. Popular restaurant venues and convenience service offerings drive traffic into the 100% leased 78,767 square foot class-A Community Center, which is strategically located on a high-traffic intersection (27,000 cars per day) at the corner of Germann Road at Dobson