Recently announced by S&P Global Market Intelligence (S&P)
in a December 7th article, Whitestone REIT (NYSE: WSR) ranked first
in year-over-year (“YOY”) recovery in Black Friday foot traffic.
The analysis by S&P, which sourced data from AirSage, reveals
that the foot traffic in Whitestone centers has recovered to 80.4%
of the previous year’s foot traffic levels as compared to the
overall public shopping center industry average of a 48%
recovery.(1)
This report supports an internal location intelligence analysis
Whitestone recently performed using Placer.ai software on its own
properties in a YOY comparison for the month of November in which
the median recovery in foot traffic was 81% for the entire
portfolio from the prior year. This analysis further supports
Whitestone’s recently reported 92.4% shopping center sector leading
COVID cash rental collections for the month of November.
Breaking Whitestone’s proprietary findings down further
shows:
- an 87% recovery in its
grocery-anchored properties, which accounts for 51% of the
annualized base rent (“ABR”) of our portfolio:
- an 83% recovery in properties
populated with non-grocery tenants who service the daily needs and
necessities of residential neighborhoods, which accounts for 37% of
the ABR of our portfolio; and
- a 48% recovery in properties with
higher daytime populations in office-centric surroundings, which
accounts for only 12% of the ABR of our portfolio.
As part of its business model, Whitestone uses cutting edge
technologies for location intelligence to better understand who its
consumers are, where they are going, what they like, and where they
spend their time and money. The artificial intelligence built into
this data science platform tracks foot patterns and gives
Whitestone property management and asset acquisition projections,
predicts outcomes for its properties, and helps support its
entrepreneurial tenants’ businesses and its communities as a whole.
Whitestone has used technologies like Esri ArcGIS Online, or "the
Science of Where", as well as other proprietary technologies since
its inception.
Through analysis of this data and its applied use of
psychographics, Whitestone’s premier locations, optimal tenant mix,
and community centered properties are among the “stickiest” in the
country. The loyalty and multiple visits per week by its affluent
shoppers are turning heads in retail, helping Whitestone win
tenants away from the operators of enclosed malls and other
shopping center operators, as well as help in the retention of
existing clients.
(1) Data compiled December 7, 2020. Represents year-over-year
change in total foot traffic at the REIT’s shopping centers.
Includes properties owned by Acadia Realty Trust, Brixmor Property
Group Inc., Cedar Realty Trust, Inc., SITE Center Corp, Federal
Realty Investment Trust, Kimco Realty Corporation, Kite Realty
Group Trust, RPT Realty, Regency Centers Corporation, Retail
Opportunity Investments Corp., Retail Properties of America, Inc.,
Retail Value Inc., Saul Centers, Inc., Urban Edge Properties,
Urstadt Biddle Properties Inc., Weingarten Realty Investors,
Wheeler Real Estate Investment Trust Inc. and Whitestone REIT.
About Whitestone REIT Whitestone is a
community-centered shopping center REIT that acquires, owns,
manages, develops and redevelops high-quality neighborhood centers
primarily in the largest, fastest-growing and most affluent markets
in the Sunbelt.
Whitestone seeks to create Communities That
Thrive through Creating Local Connections between
consumers in the surrounding communities and a well-crafted mix of
national, regional and local tenants that provide daily
necessities, needed services, entertainment and
experiences.
Whitestone is a monthly dividend paying stock and has
consistently paid dividends for over 15 years.
Whitestone’s strong balanced and managed capital structure
provides stability and flexibility for growth and positions
Whitestone to perform well through economic cycles. For
additional information, please
visit www.whitestonereit.com
About S&P Global Market IntelligenceAt
S&P Global Market Intelligence, we understand the importance of
accurate, deep and insightful information. We integrate financial
and industry data, research and news into tools that help track
performance, generate alpha, identify investment ideas, perform
valuations and assess credit risk. Investment professionals,
government agencies, corporations and universities around the world
use this essential intelligence to make business and financial
decisions with conviction. S&P Global Market Intelligence is a
division of S&P Global, the world’s foremost provider of credit
ratings, benchmarks and analytics in the global capital and
commodity markets, offering ESG solutions, deep data and insights
on critical business factors. S&P Global has been providing
essential intelligence that unlocks opportunity, fosters growth and
accelerates progress for more than 160 years. For more information,
visit www.spglobal.com/marketintelligence
About Placer.aiSilicon Valley-based Placer.ai
is the most advanced foot traffic analytics platform allowing
anyone with a stake in the physical world to instantly generate
insights into any property for a deeper understanding of the
factors that drive success. Placer.ai is the first platform that
fully empowers professionals in retail, commercial real estate,
hospitality, economic development and more to truly understand and
maximize their offline activities. Find more information here:
https://placer.ai/
About EsriEsri, the global market leader in
geographic information system (GIS) software, location
intelligence, and mapping helps customers unlock the full potential
of data to improve operational and business results. Founded in
1969 in Redlands, California, USA, Esri software is deployed in
more than 350,000 organizations globally and in over 200,000
institutions in the Americas, Asia and the Pacific, Europe, Africa,
and the Middle East. Esri has partners and local distributors in
over 100 countries on six continents, including Fortune 500
companies, government agencies, nonprofits, and universities. With
its pioneering commitment to geospatial information technology,
Esri engineers the most innovative solutions for digital
transformation, the Internet of Things (IoT), and advanced
analytics. Visit us at www.esri.com About
AirSageAirSage pioneered the transformation of wireless
network signaling data into powerful location intelligence
information. Early research led to unique developments, patents,
and methodologies that enable AirSage to provide the most
comprehensive population analytics and movement patterns on the
market today. AirSage has the most extensive coverage in the United
States of any location-based data service provider. We collect and
analyze real-time mobile signals, GPS, and other location data to
produce and process billions of anonymous data points every day.
AirSage provides unmatched scale and accuracy to its customers,
while fully protecting data privacy.
Media companies, businesses, investors, transportation planners,
real estate owners, travel & tourism professionals, and a host
of others have easy access to data that they can use for research
and planning purposes. These insights can easily be integrated into
larger models and analytics solutions, giving our customers an edge
when solving complex challenges, planning for growth, creating
marketing campaigns, or building stronger customer
relationships.
Investors Contact:Kevin Reed, Director of
Investor RelationsWhitestone REIT(713)
435-2219ir@whitestonereit.com
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