“Coffee and Cars” Monthly Showcase Increasing Foot Traffic by 26% at Whitestone’s Market Street at DC Ranch

Rhea-AI Summary

Whitestone REIT's “Coffee and Cars” event in North Scottsdale, Arizona, has led to a remarkable 26% increase in foot traffic to the Market Street at DC Ranch property. Starting again on January 2nd, the event showcases over 150 exotic cars monthly, contributing to local sales growth for tenants. CEO Jim Mastandrea indicated the event's success exceeded expectations, prompting plans to expand similar events to other Whitestone locations in Texas. Whitestone REIT is recognized for its community-centered approach, consistently paying dividends for over 15 years.

Positive

• 26% increase in foot traffic due to the event.
• Potential for expansion of similar events to other properties in Texas.
• Consistently paying dividends for over 15 years.

Negative

• None.

HOUSTON, Dec. 31, 2020 (GLOBE NEWSWIRE) -- Scuderia Southwest’s “Coffee and Cars” will be starting the New Year off with another high-octane event at Whitestone REIT’s Market Street at DC Ranch property in North Scottsdale, Arizona. The monthly Scottsdale Motorsports Gathering brings its collection of Ferraris, Fords, Lamborghinis, Bentleys and other rare and exotic cars back to Whitestone’s highly desirable DC Ranch property and has become a significant foot traffic driver to the property, increasing traffic 26% on the Saturdays the event is held as compared to other Saturdays in the month.

The highly anticipated event, which gathers on the first Saturday of every month, began in October at DC Ranch and kicks off again this Saturday, January 2^nd at 7am, Mountain Standard Time. Market Street at DC Ranch is located at 20789 North Pima Road, and has hosted over 150 exotic cars per event, and that number continues to grow.

Jim Mastandrea, Chairman and CEO of Whitestone REIT commented, “‘Coffee and Cars’ is quickly becoming a DC Ranch tradition as the community welcomed it with open arms when it started here in October.” Mr. Mastandrea continued,” Here at Whitestone we are always looking for new, creative, and fun events to bring into our communities. However, we admittedly did not anticipate this type of successful response so quickly! Foot traffic to our property has increased significantly, up 26%, which in turn has helped our tenants grow sales.” Mr. Mastandrea concluded, “Given the overwhelmingly positive response we have received from our Arizona neighbors, we envision hosting similar events at other Whitestone properties in our Texas markets in the future.”

About Whitestone REIT 
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. 

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

Whitestone is a monthly dividend paying stock and has consistently paid dividends for over 15 years. Whitestone’s 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.

About Scuderia Southwest 
From its beginning in 2001 as a couple of guys getting coffee, to the current monthly gathering drawing hundreds of truly amazing cars, Scuderia Southwest is a group of people who share a common interest in great automobiles. We put on a few car events, organize a few drives, pull a few g's on the track, and even congregate for a good meal. We love all cars but have a particular passion for rare exotic, high performance and collector cars and our activities typically reflect that. From the 1962 250 GTO to the latest 812 Superfast, we are passionate about Ferraris. From the 1972 Miura to the latest Aventador SV, we love Lamborghinis. The Mercedes 300 SL Gullwing and SLS AMG, McLaren 675LT, Shelby Cobra, D & E-type Jags, and Ford GT are just a few of the special cars we keep in our garages. If you're a car guy or gal, come on out and let's share some coffee, cool stories, and tech talk!  For additional information, please visit www.scuderiasouthwest.com .

Investors Contact:
Kevin Reed, Director of Investor Relations
Whitestone REIT
(713) 435-2219
ir@whitestonereit.com

FAQ

What is the impact of the Coffee and Cars event on Whitestone REIT's properties?

The Coffee and Cars event has led to a 26% increase in foot traffic at Market Street at DC Ranch, positively affecting tenant sales.

When does the Coffee and Cars event take place?

The Coffee and Cars event is held on the first Saturday of every month, starting again on January 2nd.

How many exotic cars are showcased at the Coffee and Cars event?

The event showcases over 150 exotic cars each month.

Who is the CEO of Whitestone REIT?

The CEO of Whitestone REIT is Jim Mastandrea.

Does Whitestone REIT pay dividends?

Yes, Whitestone REIT has consistently paid dividends for over 15 years.