WRI Weingarten Realty Investors

HOUSTON, July 17 /PRNewswire-FirstCall/ -- Weingarten Realty Investors (NYSE:WRI) announced today that the Company recently purchased five shopping centers and two industrial projects adding 903,000 square feet to its portfolio and representing a total investment of $97.0 million as detailed below. According to Drew Alexander, President and Chief Executive Officer of Weingarten, "We are extremely pleased with the portfolio changes we made during the second quarter. We added four properties in California and two in Florida which are some of our strongest markets. Before these transactions, our assets in California and Florida each represented 14% of our total NOI. Consistent with our strategy changes announced earlier this year, we continue to sell non-core assets and in the second quarter alone generated $58.7 million in gains." Property Acquisitions: Name Square Feet Location Anchor Valley Shopping Center 98,200 Sacramento, Raley's California Brownsville Commons 27,700 Powder Springs Kroger (Atlanta), Georgia Shoppes of Parkland 145,700 Parkland BJ's Wholesale (Ft. Lauderdale), Florida 1725 Dornoch Court 111,900 San Diego, Industrial California 1855 Dornoch Court 205,000 San Diego, Industrial California Indian Harbour Place* 163,500 Indian Harbour Beach Publix (Melbourne), Florida Freedom Centre 151,500 Freedom (Santa Cruz), Ralph's California * Note: WRI has a 25% interest Asset Dispositions: Name Square Feet Location Dickinson Village* 87,600 Dickinson (Houston), Texas Watauga Towne Center 65,300 Fort Worth, Texas Copperfield Village 163,000 Houston, Texas Evelyn Hills 131,000 Fayetteville, Arkansas PineTree Plaza 134,800 Lees Summit (Kansas City), Missouri Regency Park 202,000 Overland Park (Kansas City), Kansas Westbrooke Village 237,000 Shawnee (Kansas City), Kansas NASA One Business Center 112,500 Webster (Houston), Texas Walnut Trails Business Park 103,500 Dallas, Texas * Note: WRI had a 72.47% interest New Web site: Additionally, Weingarten Realty Investors launched its newly redesigned and enhanced Web site that can be found at http://www.weingarten.com/. The dynamic site features five new navigation tabs including, "retail leasing," "industrial leasing," "new development," "acquisitions & dispositions," and "investor relations." This contemporary site offers a more functional and streamlined method of providing detailed property information to all interested parties, thus especially enhancing the leasing process. About Weingarten Realty Investors As one of the largest real estate investment trusts listed on the New York Stock Exchange, Weingarten Realty Investors (NYSE:WRI) is focused on delivering solid returns to shareholders by actively developing, acquiring and intensively managing properties in 21 states that span the southern portion of the United States from coast to coast. The Company's portfolio of 360 properties includes 295 neighborhood and community shopping centers and 65 industrial properties, aggregating over 48.3 million square feet. Weingarten has one of the most diversified tenant bases of any major REIT in its sector, with the largest of its 5,200 tenants comprising approximately 3% of its rental revenues. To learn more about the Company's operations and growth strategies, please visit://www.weingarten.com. DATASOURCE: Weingarten Realty Investors CONTACT: Weingarten Realty Investors, Information, +1-713-866-6054 Web site: http://www.weingarten.com/

Copyright