HOUSTON, Dec. 08, 2022 (GLOBE NEWSWIRE) — Whitestone REIT (NYSE:WSR) (“Whitestone” or the “Company”) today signed a long-term, 51,000 square foot lease with EoS Fitness, establishing a strong relationship with the dynamic, high energy, fitness brand. Securing EoS as the anchor at Williams Trace Plaza center in Sugar Land, a fast-growing suburb of Houston, aligns well with Whitestone’s community center focus as it leverages EoS’s growing reputation for family friendliness and great service. The addition of EoS will dramatically increase investment returns for Whitestone’s center in the coming years. EoS Fitness replaces an underutilized grocer, and is anticipated to increase traffic to the center, create greater tenant demand for spaces and potentially support the development of a future pad site at the center.
“We are thrilled to be bringing EoS Fitness into our Williams Trace Plaza center. The addition of a high-quality, state-of-the-art health and fitness tenant like EoS Fitness positions the center to thrive,” said Whitestone REIT Chief Operating Officer, Christine Mastandrea. “Investing in a high-traffic center in the vibrant Sugar Land community is anticipated to contribute to Whitestone’s future earnings growth in 2023 and beyond.”
Sugar Land is a hub for numerous industries, including advanced manufacturing, biotech, financial services and energy technology. The city has a highly educated workforce with over 60% of residents holding a bachelor’s degree or higher, nearly twice the national average, according to the Greater Houston Partnership.
EoS Fitness is a leader in the fitness industry, offering an inclusive and welcome environment for fitness enthusiasts of every level. The brand offers top-of-the-line health, fitness and wellness amenities, a variety of high-energy group fitness classes, multiple high-tech strength and interactive fitness experiences, and expansive recovery spaces where members can focus on improving their overall health and achieving their fitness goals. EoS gyms draw steady, repeat foot traffic and are heavily connected with the surrounding community.
Fitness remains one of the top retail categories for foot traffic growth. For more information on foot traffic levels and other key data, please see refer to Placer.ai’s Quarterly Index on their website.
Whitestone achieved record occupancy of 92.5% in the third quarter 2022 and continues to focus on finishing the year with strong results.
About Whitestone REIT
Whitestone REIT (NYSE: WSR) is a community-centered real estate investment trust (REIT) that acquires, owns, operates, and develops open-air, retail centers located in some of the