WRI Weingarten Realty Investors

HOUSTON, March 29 /PRNewswire-FirstCall/ -- Weingarten Realty Investors (NYSE:WRI) announced today the portfolio acquisition of six neighborhood/community anchored centers totaling 780,000 square feet for $165 million. The centers were sold by affiliates of Tucson-based Bourn Partners, LLC. Five of the centers are located in Tucson, Arizona; one is located in Scottsdale, Arizona. All of the centers are located in high barrier to entry sub-markets providing the opportunity for strong future rent growth. The centers are leased to a diverse mix of strong national retailers including Wal-Mart, Safeway, Walgreens, Kohl's, Home Depot, PetSmart, and Circuit City. Shopping Center Location Anchors/Major Tenants Square Footage Tucson, Wal-Mart Neighborhood Entrada de Oro Arizona Grocery 88,700 Tucson, Safeway, Ace Hardware, Madera Village Arizona and Walgreens 96,700 Kohl's, Sprouts Farmers Tucson, Market, Shoe Pavilion, Oracle Crossings Arizona and Sedona Patio 253,600 Home Depot, Ulta, Tucson, PetSmart, Circuit City Oracle Wetmore Arizona and Walgreens 286,800 Shoppes at Tucson, Carondelet Health Bears Path Arizona Network 43,900 Baja Fresh, Century 21 Scottsdale Scottsdale, Foothills Realty, Cold Horizon Arizona Stone Creamery 10,300 Drew Alexander, President and CEO of WRI stated, "This is an important acquisition for us in the very desirable Tucson retail market. These properties have exceptional locations, strong demographics, and high quality anchor tenants. We continue to execute on our strategy of strengthening the Company's portfolio with attractive acquisitions that will provide strong future growth." 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 22 states that span the United States from coast to coast. The Company's portfolio of 389 properties includes 322 neighborhood and community shopping centers and 67 industrial properties, aggregating 47.5 million square feet. Weingarten has one of the most diversified tenant bases of any major REIT in its sector, with the largest of its 5,500 tenants comprising less than 3% of its rental revenues. To learn more about the Company's operations and growth strategies, please visit http://www.weingarten.com/. Bourn Partners is a Tucson-based real estate organization specializing in development, brokerage, property management, project marketing and investment advisory services. Its activities span retail, residential, office, and industrial properties in Arizona, California, Texas, Nebraska and Colorado. Forward-Looking Statements Statements included herein that state the Company's or Management's intentions, hopes, beliefs, expectations or predictions of the future are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 which by their nature, involve known and unknown risks and uncertainties. The Company's actual results, performance or achievements could differ materially from those expressed or implied by such statements. Reference is made to the Company's regulatory filings with the Securities and Exchange Commission for information or factors that may impact the Company's performance. DATASOURCE: Weingarten Realty Investors CONTACT: Richard Summers of Weingarten Realty Investors, +1-713-866-6050 Web site: http://www.weingarten.com/

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