Weingarten Realty

Weingarten Realty Investors
Public
Traded as
Industry Real estate investment trust
Founded 1948 (1948)
Headquarters Houston, Texas
Key people
 Stanford Alexander, Chairman
Andrew M. Alexander, CEO
Stephen C. Richter, CFO[1]
Revenue Decrease $0.549 billion (2016)[1]
Increase $0.276 billion (2016)[1]
Total assets Increase $4.426 billion (2016)[1]
Total equity Increase $1.716 billion (2016)[1]
Website weingarten.com
Weingarten Realty headquarters

Weingarten Realty Investors is a publicly-traded real estate investment trust that invests in shopping centers, primarily in the Southern United States and primarily with grocery stores as the anchor stores.[1]

As of December 31, 2016, the company owned interests in 220 properties comprising 4.7 million square feet.[1]

During 2016, 20.5% of the company's revenues were generated from properties in the Houston area and 30% of the company's revenues were generated from properties in Texas.[1] The company's largest tenant, Kroger, accounted for 3.1% of revenue in 2016.[1]

History

In the 1880s, Harris Weingarten, an immigrant from Poland, started a grocery business in Houston called Weingarten's.[2]

In 1948, Joe Weingarten, the eldest son of Harris Weingarten founded Weingarten Realty to build stores for his father's business.[2] In 1980, Safeway Inc. purchased the grocery operations.[2]

In 1985, the company became a public company via an initial public offering.[2]

In 2002, the company acquired 3 shopping centers for $46.2 million.[3][4]

In 2003, the company acquired a Sears Distribution Center in Atlanta.[5]

In 2012, the company sold all of its industrial assets for $382.4 million.[6]

In 2013, the company acquired Mueller Regional Retail Center.[7]

In 2016, the company acquired a property in Seattle for $43.5 million,[8] Deerfield Mall for $92.75 million,[9] and The Palms at Town & Country for $285 million.[10] It also sold Wake Forest Crossing for $36.6 million[11] and Sunrise West Shopping Center for $15 million.[12]

In 2017, the company sold Palms of Carrollwood for $31.13 million[13] and sold Bartlett Towne Center for $28.8 million in a transaction brokered by HFF.[14]

References

  1. 1 2 3 4 5 6 7 8 9 Weingarten Realty Investors 2016 Form 10-K Annual Report
  2. 1 2 3 4 Keenan, Charles (November 11, 2016). "Weingarten Realty Investors is a Family Affair". National Association of Real Estate Investment Trusts.
  3. ↑ "Weingarten adds three shopping centers". American City Business Journals. December 20, 2002.
  4. ↑ "Raleigh shopping center part of $46.2M in deals". American City Business Journals. December 20, 2002.
  5. ↑ "Houston REIT buys Atlanta industrial property". American City Business Journals. January 14, 2003.
  6. ↑ Dawson, Jennifer (April 11, 2012). "Weingarten Realty selling $382.4M in assets". American City Business Journals.
  7. ↑ Buchholz, Jan (October 10, 2013). "High-profile Houston company buys Mueller shopping center". American City Business Journals.
  8. ↑ "Weingarten Realty Acquires Urban Seattle Property" (Press release). Business Wire. March 2, 2016.
  9. ↑ Bandell, Brian (May 9, 2016). "Mall with tenants including dine-in movie theater, Publix, Sports Authority sold". American City Business Journals.
  10. ↑ Heschmeyer, Mark (August 3, 2016). "Weingarten Realty Acquires Iconic Miami Retail Center". CoStar Group.
  11. ↑ Hoyle, Amanda (October 3, 2016). "Weingarten Realty sells Wake Forest retail center for $36.6M". American City Business Journals.
  12. ↑ Bandell, Brian (December 23, 2016). "Publix-anchored retail center sells at loss in Sunrise". American City Business Journals.
  13. ↑ Damm, Taylor (March 1, 2017). "Weingarten Realty Sells Palms of Carrollwood". CoStar Group.
  14. ↑ Nichols, Meagan (July 24, 2017). "Done Deal: Atlanta real estate firm buys Bartlett shopping center". American City Business Journals.
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