{"id":3041,"date":"2021-06-15T07:14:05","date_gmt":"2021-06-15T12:14:05","guid":{"rendered":"https:\/\/1reason.com\/re\/whitestone-renews-and-expands-pauls-ace-hardware-as-one-of-its-high-quality-e-commerce-resistant-tenants-at-its-fountain-hills-plaza-property\/3041\/"},"modified":"2021-06-16T02:14:05","modified_gmt":"2021-06-16T07:14:05","slug":"whitestone-renews-and-expands-pauls-ace-hardware-as-one-of-its-high-quality-e-commerce-resistant-tenants-at-its-fountain-hills-plaza-property","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/whitestone-renews-and-expands-pauls-ace-hardware-as-one-of-its-high-quality-e-commerce-resistant-tenants-at-its-fountain-hills-plaza-property\/3041\/","title":{"rendered":"Whitestone Renews and Expands Paul\u2019s Ace Hardware as One of its High Quality,\u00a0E-Commerce Resistant Tenants at Its Fountain Hills Plaza Property"},"content":{"rendered":"
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Paul\u2019s Ace Hardware at Fountain Hills Plaza in Fountain Hills, AZ, a property of Whitestone REIT (NYSE:WSR)<\/h5>\n

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HOUSTON, May 25, 2021 (GLOBE NEWSWIRE) — Whitestone REIT today announced that its \u201chelpful hardware folks\u201d tenant, Paul\u2019s Ace Hardware, renewed its lease for 10 years and is expanding its square footage at Whitestone\u2019s Fountain Hills Plaza property in Fountain Hills, Arizona.<\/p>\n

Paul\u2019s Ace Hardware is expanding its store by approximately 4,000 square feet \u2014 from 26,287 square feet to 30,646 square feet \u2014 transforming it into one of the largest Ace stores in the Phoenix Metro Area.<\/p>\n

The renewal and expansion of this well-known retail brand and recently announced new leases in Fountain Hills Plaza supports the quality of cash flows to Whitestone\u2019s shareholders and helps guarantee the long-term security of the property. Paul\u2019s Ace Hardware is joined by Fountain Hills Plaza\u2019s curated mix of other tenants, including AutoZone, Bashas\u2019 grocery store, Great Clips, H&R Block, and Verizon Wireless, who provide essential goods and services to the local community.<\/p>\n

\u201cFountain Hills Plaza continues to be an essential staple destination for its surrounding communities, providing its area neighborhoods with a well-rounded mix of eCommerce-resistant entrepreneurial providers of essential goods and services. The 18-hour, 24\/7 traffic patterns, the quality of our properties and the relationships we have with the surrounding communities we serve, in turn, helps attract a diverse array of quality tenants who want to benefit from being in our centers,\u201d said Chairman and CEO Jim Mastandrea. \u201cWhitestone\u2019s business model of institutional-quality, open-air, lifestyle-focused properties that attract customers throughout the day and evening is consistent throughout our portfolio. This creates enhanced quality of life and convenience for our surrounding communities and institutional value for our shareholders on a tenant-by-tenant basis.\u201d<\/p>\n

About Paul\u2019s Ace Hardware<\/u><\/strong>
Paul\u2019s Ace Hardware was founded by Paul Dauwalder in 1956. It has been in Fountain Hills since 1973 and has relocated and expanded over the years to serve the growing community. Today, Julie Buchowski (Paul\u2019s granddaughter) is acting President of the company and oversees the operations of the company\u2019s eight stores in Arizona, seven of which are in the Phoenix Metro Area.<\/p>\n

Ace Hardware is the largest retailer-owned hardware cooperative in the world with more than 5,400 locally owned and operated hardware stores, including Paul\u2019s Ace Hardware, in approximately 70 countries. For more information, visit acehardware.com or www.newsroom.acehardware.com<\/a>.<\/p>\n

About Whitestone REIT<\/u><\/strong>
Whitestone is a community-centered shopping center REIT that acquires, owns, manages, develops, and redevelops high-quality neighborhood centers primarily in the largest, fastest-growing and most affluent markets in the Sunbelt.<\/p>\n

Whitestone seeks to create Communities That Thrive through Creating Local Connections between consumers in the surrounding communities and a well-crafted mix of local, regional and national tenants that provide daily necessities, needed services, entertainment, and experiences.<\/p>\n

Whitestone (NYSE: WSR) pays monthly dividends to its shareholders and it has consistently done so for more than 15 years. Whitestone\u2019s strong balanced and managed capital structure provides stability and flexibility for growth and positions Whitestone to perform well through economic cycles. For additional information, please visit www.whitestonereit.com<\/a>.<\/p>\n\n\n\n\n\n\n\n
Investor Contact:<\/u><\/strong><\/td>\nMedia Contact:<\/u><\/strong><\/td>\n<\/tr>\n
Kevin Reed<\/td>\nRebecca Elliott<\/td>\n<\/tr>\n
Director of Investor Relations<\/td>\nVice President, Corporate Communications<\/td>\n<\/tr>\n
Whitestone REIT<\/td>\nWhitestone REIT<\/td>\n<\/tr>\n
(713) 435-2219<\/td>\n(713) 435-2228<\/td>\n<\/tr>\n
ir@whitestonereit.com<\/td>\nir@whitestonereit.com<\/td>\n<\/tr>\n<\/table>\n

A photo accompanying this announcement is available at https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/1f139183-4eb1-4643-a28b-3851f2dabdd4<\/a><\/p>\n

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Paul\u2019s Ace Hardware Renews and Expands Lease at Fountain Hills Plaza <\/p>\n
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