Weingarten Realty Investors Announces the Acquisition of California Shopping Center
May 21 2004 - 7:23PM
PR Newswire (US)
Weingarten Realty Investors Announces the Acquisition of California
Shopping Center HOUSTON, May 21 /PRNewswire-FirstCall/ --
Weingarten Realty Investors announced today that the Company has
purchased El Camino Promenade shopping center located near San
Diego, California from ACF El Camino 02, LLC, a California limited
liability company. This acquisition brings Weingarten's 2004
acquisitions to $282.6 million, representing 1.9 million square
feet. El Camino Promenade, located at the northwest corner of El
Camino Real and Via Molena in Encinitas, California, is a 110,800
square foot shopping center that is currently 100% leased. Anchors
include TJ Maxx, AMC Theater and Beverages & More. According to
Drew Alexander, President and Chief Executive Officer of
Weingarten, "We are pleased with our success in acquiring this
excellent retail center. This transaction expands Weingarten's
presence in California, in the San Diego area and, specifically, in
the high-quality submarket of Encinitas." Weingarten Realty
Investors is a Houston, Texas, based real estate investment trust
with 338 income-producing properties in 20 states that span the
southern part of the United States from coast to coast. Included in
the portfolio are 277 neighborhood and community shopping centers
and 61 industrial properties aggregating 45.2 million square feet.
Weingarten has one of the most diversified tenant bases of any
major REIT in its sector, with the largest of its 4,900 tenants
comprising less than 3% of rental revenues. Listed on the New York
Stock Exchange, the Company's common shares are traded under the
symbol "WRI". For further information on the Company, please visit
http://www.weingarten.com/ . 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, which may impact the Company's performance.
http://www.newscom.com/cgi-bin/prnh/19991216/WRILOGO DATASOURCE:
Weingarten Realty Investors CONTACT: Tracy Pursell of Weingarten
Realty Investors, +1-713-866-6050 Web site:
http://www.weingarten.com/
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