WRI Weingarten Realty Investors

Weingarten Realty Investors Announces Acquisitions of Atlanta Area Shopping Center and Industrial Property, and the Purchase of JV Partners' Interests in Four Shopping Centers HOUSTON, June 4 /PRNewswire-FirstCall/ -- Weingarten Realty Investors (NYSE:WRI) announced today that the Company has purchased Village Shoppes of Sugarloaf, located in Lawrenceville, Georgia, a suburb of Atlanta, and Southside Industrial Parkway in Atlanta, Georgia. Village Shoppes of Sugarloaf, located at the northwest corner of Sugarloaf Parkway and Five Forks Trickum Road, is a 147,800 square foot shopping center anchored by Publix and is currently 98% occupied. Other tenants include Hollywood Video and Washington Mutual. Southside Industrial Parkway is a 72,000 square foot industrial center located at the southeast corner of Southside Industrial Parkway and Jonesboro Road. The property is 100% leased, has excellent proximity to Interstate 285 and Hartsfield-Jackson Atlanta International Airport, and is located near some of the Company's existing industrial assets. Weingarten also announced the purchase of its partners' interests in Pavilions at San Mateo located in Albuquerque, New Mexico, Lone Star Pavilion in College Station, Texas, Rockwall Market Center located in Rockwall (Dallas), Texas and Alabama Shepherd Shopping Center in Houston, Texas. According to Drew Alexander, "We are excited to have closed on our recent acquisitions in Atlanta, which gives us added presence in this very strong market. We are also pleased to have purchased the remaining 386,600 square feet associated with these joint venture properties. These purchases bring our 2004 acquisition total to $362.5 million, representing 2.5 million square feet. Weingarten Realty Investors is a Houston, Texas, based real estate investment trust with 340 income-producing properties in 20 states that span the southern part of the United States from coast to coast. Included in the portfolio are 278 neighborhood and community shopping centers and 62 industrial properties aggregating 45.6 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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