Wheeler Real Estate Investment Trust, Inc. Reports Minimal Impact from Hurricane Florence
September 20 2018 - 7:52AM
Wheeler Real Estate Investment Trust, Inc. (NASDAQ:
WHLR) (“Wheeler” or the “Company”), a fully-integrated,
self-managed commercial real estate investment company focused on
owning and operating income-producing retail properties with a
primary focus on grocery-anchored centers, announced today that
their shopping centers located in North and South Carolina
sustained only superficial damage from Hurricane Florence based on
preliminary inspections.
These buildings are comprised of 11 shopping
centers totaling approximately 576 thousand square feet. The
Company's property management team worked diligently through their
hurricane protocols to ensure all shopping centers were prepared
for the storm and are now open and operational, except for Lumber
River in Lumberton, North Carolina, which has limited access due to
flooding in the surrounding area.
"While we are fortunate not to have sustained
any significant damage to our shopping center portfolio, we are
aware that there are many who suffered significant impacts,” stated
David Kelly, President and CEO. “Our thoughts and best wishes go
out to those in the affected areas.”
WHLR continues to assess the full impact from
this devastating storm and continues to work with its property
management and leasing teams as well at its tenants to return the
centers to full operating normalcy. WHLR will communicate any
future material developments if they occur.
About Wheeler Real Estate Investment
Trust, Inc.Headquartered in Virginia Beach, VA, Wheeler
Real Estate Investment Trust, Inc. is a fully-integrated,
self-managed commercial real estate investment company focused on
owning and operating income-producing retail properties with a
primary focus on grocery-anchored centers. Wheeler’s portfolio
contains well-located, potentially dominant retail properties in
secondary and tertiary markets that generate attractive
risk-adjusted returns, with a particular emphasis on
grocery-anchored retail centers. Additional information about
Wheeler Real Estate Investment Trust, Inc. can be found at the
Company’s corporate website: www.whlr.us.
Forward-Looking StatementsThis
press release may contain “forward-looking” statements as defined
in the Private Securities Litigation Reform Act of 1995. When the
Company uses words such as “may,” “will,” “intend,” “should,”
“believe,” “expect,” “anticipate,” “project,” “estimate” or similar
expressions that do not relate solely to historical matters, it is
making forward-looking statements. Forward-looking statements are
not guarantees of future performance and involve risks and
uncertainties that may cause the actual results to differ
materially from the Company’s expectations discussed in the
forward-looking statements. The Company’s expected results may not
be achieved, and actual results may differ materially from
expectations. Specifically, the Company’s ability to produce income
from grocery-anchored retail properties, its ability to create
long-term value for shareholders and returning its properties to
full operating normalcy are forward looking
statements. Specifically, the Company’s ability to produce
income from grocery-anchored retail properties, and its ability to
create long-term value for shareholders are forward-looking
statements and returning its properties to full operating normalcy
are forward looking statements. These statements are not
guarantees of future performance and are subject to risks,
uncertainties and other factors, some of which are beyond our
control, are difficult to predict and could cause actual results to
differ materially from those expressed or forecasted in the
forward-looking statements. For these reasons, among others,
investors are cautioned not to place undue reliance upon any
forward-looking statements in this press release.
Additional factors are discussed in the
Company's filings with the U.S. Securities and Exchange Commission,
which are available for review at www.sec.gov. The Company
undertakes no obligation to publicly revise these forward-looking
statements to reflect events or circumstances that arise after the
date hereof.
CONTACT: Mary JensenInvestor Relations(757)
627-9088mjensen@whlr.us
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