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- APRIL 17, 2017

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Whitestone REIT to buy Texas retail properties for $205m

by Andrea Waitrovich

Whitestone REIT has acquired the Eldorado Plaza and BLVD Place in separate transactions, two class-A retail centers located in affluent and fast-growing communities in Dallas and Houston, respectively.

The sales price was $204.6 million.

Eldorado Plaza is located in McKinney, Texas, on the north end of the Dallas “Platinum Corridor,” which is known for its mix of national companies and regional branch offices including Coca-Cola, Wells Fargo, Pizza Hut, Hilton Hotels, NexBank, iHeart Communications and Mary Kay Cosmetics.

The class-A lifestyle center contains 221,577 square feet of leasable space, with the option to purchase an additional 1.86 acres of developable land that will give Whitestone the ability to build an estimated 24,000 square feet of additional leasable space, based on current plans. As of April 15, 2017, Eldorado Plaza was 97 percent leased. Eldorado Plaza will be Whitestone’s seventh property in its Dallas division.

BLVD Place is l

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