Weingarten Realty Investors is a publicly-traded real estate investment trust that invests in shopping centers, primarily in the Southern United States and primarily with grocery stores as the anchor stores.
As of December 31, 2016, the company owned interests in 220 properties comprising 4.7 million square feet.
During 2016, 20.5% of the company's revenues were generated from properties in the Houston area and 30% of the company's revenues were generated from properties in Texas. The company's largest tenant, Kroger, accounted for 3.1% of revenue in 2016.
Video Weingarten Realty
History
In the 1880s, Harris Weingarten, an immigrant from Poland, started a grocery business in Houston called Weingarten's.
In 1948, Joe Weingarten, the eldest son of Harris Weingarten founded Weingarten Realty to build stores for his father's business. In 1980, Safeway Inc. purchased the grocery operations.
In 1985, the company became a public company via an initial public offering.
In 2002, the company acquired 3 shopping centers for $46.2 million.
In 2003, the company acquired a Sears Distribution Center in Atlanta.
In 2012, the company sold all of its industrial assets for $382.4 million.
In 2013, the company acquired Mueller Regional Retail Center.
In 2016, the company acquired a property in Seattle for $43.5 million, Deerfield Mall for $92.75 million, and The Palms at Town & Country for $285 million. It also sold Wake Forest Crossing for $36.6 million and Sunrise West Shopping Center for $15 million.
In 2017, the company sold Palms of Carrollwood for $31.13 million and sold Bartlett Towne Center for $28.8 million in a transaction brokered by HFF.
Maps Weingarten Realty
References
External links
Source of article : Wikipedia
0 Comments