Whitestone Improves Tenant Mix, Increases Occupancy by 3.5%, and Increases NOI by 6.3% at Its Fountain Hills Plaza Property in AZ; Adds AutoZone to its High Quality, E-Commerce Resistant Tenant Base
HOUSTON, March 02, 2021 (GLOBE NEWSWIRE) -- Whitestone REIT gets “Into the Zone” by adding AutoZone to its Fountain Hills Plaza property in Arizona. With the signing of AutoZone, Whitestone increased property occupancy by 3.5% and property net operating income by 6.3% by doing what it does best, crafting the optimal mix of tenants to meet the needs of the local community. The addition of the Fortune 500 company also improves the quality of cash flows to Whitestone’s shareholders and helps guarantee the long-term security of the property. AutoZone joins other essential tenants Bashas’ grocery store, Ace Hardware, and Verizon Wireless. Chairman and CEO Jim Mastandrea commented, “Fountain H
