Saturday , 1 October 2016
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Houston REIT Buys North Texas Retail Center

Whitestone REIT buys Keller Place retail center.

Whitestone REIT buys Keller Place retail center.

KELLER, Texas – Houston-based Whitestone REIT acquired Keller Place, a retail project in the Dallas/Fort Worth area for $14.3 million.

The 93,541 square-foot Kroger-anchored retail center is 92 percent leased. As part of the deal Whitestone obtained two developable land parcels with expansion potential of approximately 30,000 leasable square feet.

“Keller Place meets our service-oriented, community centered property criteria. We are very excited to be adding this premier property to our DFW portfolio. As we continue to grow, our plan is to become a leading property owner and operator in Austin, San Antonio, Dallas/Fort Worth, Houston and Phoenix, which are cities located in two of the fastest-growing and most business-friendly states in the country,” said James C. Mastandrea, Whitestone’s Chairman and Chief Executive Officer.

Founded in 1998, Whitestone has a portfolio of 69 commercial properties in Texas, Arizona and Illinois.

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