Whitestone REIT acquires Lake Woodlands Crossing in Texas

Whitestone REIT announced the acquisition of Lake Woodlands Crossing, a 60,246 square foot retail property in The Woodlands, TX. As part of the company’s ongoing asset management strategy, Whitestone recently announced approximately $36M in dispositions and communicated its intent to use the proceeds for debt reduction and future accretive acquisitions with greater upside than the properties which were sold. Lake Woodlands Crossing fits perfectly with this strategy through its premier location in a thriving community, service-oriented tenant mix providing convenience and connection, and upside potential to lease the current 11% vacancy in the property. Key tenants include a top performing Total Wine, Ulta Beauty, Body Fit Training, Bluestone Lane Coffee and Flower Child.