Weingarten Realty Announces Sale of 100,600 Square Foot Jester Plaza Service Center in Northwest Houston
October 27 2009 - 10:58AM
Business Wire
Weingarten Realty (NYSE: WRI) announced today the sale of a
100,600 square-foot industrial service center on 5.6 acres to
Jester Plaza, Ltd. The property is located near-Northwest Houston
on TC Jester Boulevard near Loop 610. Terms of the sale were not
disclosed.
“This divestiture is consistent with Weingarten’s ongoing
corporate strategy to dispose of non-core real estate assets,”
according to Kelly Landwermeyer, Vice President/Director –
Industrial Properties.
Karen Stumbough, who represented Jester Plaza, Ltd, said, “My
client was attracted to Jester Plaza because the property was
already 90 percent leased and is ideally located near a number of
major highways.”
Negotiations were handled by David Boyd, Principal of Boyd
Commercial Real Estate Services, on behalf of Weingarten.
About Weingarten Realty Investors
Weingarten Realty Investors (NYSE: WRI) is a commercial real
estate owner, manager and developer. At September 30, 2009, the
company owned or operated under long-term leases, either directly
or through its interest in real estate joint ventures or
partnerships, a total of 385 developed income-producing properties
and 13 properties under various stages of construction and
development. The total number of properties includes 315
neighborhood and community shopping centers located in 22 states
spanning the country from coast to coast. The company also owns 80
industrial projects located in California, Florida, Georgia,
Tennessee, Texas and Virginia and three other operating properties
located in Arizona and Texas. At September 30, 2009, the company’s
portfolio of properties was approximately 72.3 million square
feet.
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