Weingarten Realty Investors is a publicly traded real estate investment trust that invests in shopping centers, especially in the Southern United States and especially with grocery stores as storage stores.
As of December 31, 2016, the company has shares in 220 properties comprising of 4.7 million square feet.
During 2016, 20.5% of the company's revenue is generated from properties in the Houston area and 30% of the company's revenues are generated from properties in Texas. The company's largest tenant, Kroger, accounts for 3.1% of revenues in 2016.
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History
In the 1880s, Harris Weingarten, a Polish immigrant, started a grocery business in Houston called Weingarten's.
In 1948, Joe Weingarten, the eldest son of Harris Weingarten founded Weingarten Realty to build a shop for his father's business. In 1980, Safeway Inc. buy foodstuff operations.
In 1985, the company became a public company through an initial public offering.
In 2002, the company acquired 3 shopping centers for $ 46.2 million.
In 2003, the company acquired Sears Distribution Center in Atlanta.
In 2012, the company sold all 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 & amp; Country for $ 285 million. He 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 HFF-brokered transactions.
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References
External links
Source of the article : Wikipedia
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