Whitestone REIT Commences New 43,619-SF Lease with Walmart Neighborhood Market at Marketplace at Central in Phoenix

HOUSTON--(BUSINESS WIRE)--

Whitestone REIT WSR, a fully integrated real estate company that owns, re-develops, leases, manages, and operates Community Centered Properties^TM, announced that the Company and Walmart Neighborhood Market have commenced a new lease at Whitestone's Marketplace at Central property in Phoenix, Arizona. Whitestone has turned the space over to Walmart Neighborhood Market, who will complete their build out of the store, with a planned mid-2014 grand opening.

James C. Mastandrea, Whitestone's Chairman and Chief Executive Officer, said, “We continue to see significant progress on the leasing front with the addition of Walmart Neighborhood Market to our Marketplace at Central Community Centered Property^TM. We expect robust activity during 2014 as we continue to redevelop, re-tenant and increase rents in our properties.”

About Marketplace at Central

Marketplace at Central is a community retail center, with over 111,000 square feet of leasable space. It is conveniently located across from John C. Lincoln Hospital, in a densely populated, established urban neighborhood, at the intersection of E. Dunlap and N. Central Avenue in Phoenix, Arizona. The center is home to popular retailers including Ross Dress for Less and Dollar Tree.

About Whitestone REIT

Whitestone REIT WSR is a fully integrated real estate investment trust that owns, operates and redevelops Community Centered Properties^TM. Whitestone focuses on value creation in its community centers, concentrating on local service-oriented, smaller space tenants (less than 3,000 square feet). Whitestone has a diversified tenant base concentrated on service offerings including medical, education, casual dining, and convenience services. The largest of its approximate 1,200 tenants comprised less than 1.6% of its annualized base rental revenues as of September 30, 2013. Founded in 1998, the Company is internally managed with a portfolio of commercial properties in Texas, Arizona, and Illinois. For additional information about the Company, please visit www.whitestonereit.com. The Investor Relations section of the Company's website has links to Whitestone's filings with the Securities and Exchange Commission, news releases, financial reports and investor newsletters.