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HOUSTON, July 08, 2021 (GLOBE NEWSWIRE) Whitestone REIT (or Whitestone or the Company ) (NYSE:WSR) today announced that it has acquired Lakeside Market, a 163,000 square-foot open-air shopping center, located at 5809 Preston Road in Plano, Texas, adjacent to the new H-E-B flagship-format grocery store, which is under construction and targeted to open in Fall 2022. Lakeside Market is Whitestone s ninth property acquisition in its Dallas-Ft. Worth market, bringing its total leasable area in the region to approximately 831,000 square feet. This acquisition is projected to generate revenues of $2.3 million for the remainder of 2021 and $5.2 million for full year 2022.
Lakeside Market is located in the nationally recognized Platinum Corridor. According to the Dallas Business Journal, Lakeside Market is in one of Dallas wealthiest zip codes . Per Esri, the area within a 5- to 10-minute drive time of Lakeside Market has an average household income of $100,147, a median ho