Whitestone REIT Receives Approval of Additional Entitlements at Village Square at Dana Park Community Centered Property

Whitestone REIT

today announced that it has received approval of additional entitlements at its Village Square at Dana Park Community Centered Property from the City of Mesa.  The city's approval of the entitlements allows the Company to undertake an expansion of this premier property.  The planned additions, which will be completed in phases, include a vibrant mix of retail and restaurant space, executive suites, multifamily housing and a hotel.  The Company noted that it intends to identify an operator for the hotel component while retaining design control.  Adding value through attaining the entitlements and further developing and expanding Village Square at Dana Park will enhance the life and vitality of the property while generating additional net operating income and cash flow. Photos accompanying this release are available at http://www.globenewswire.com/NewsRoom/AttachmentNg/87e353bc-10c0-4750-85b6-f6faec1c20dc http://www.globenewswire.com/NewsRoom/AttachmentNg/9522d8ae-89ee-454e-9224-072e344961d0 http://www.globenewswire.com/NewsRoom/AttachmentNg/633f299a-e680-4ff5-94a5-d0b42d84455f Village Square at Dana Park is located just off of the high-traffic Superstition Freeway in Mesa, Arizona with over 240,000 vehicles per day passing by the property and a population of 341,000 people within a 5-mile radius.  The lifestyle community center, with its unique design and lay-out, dynamic