“Coffee and Cars” Revs Up Its Engines for Another Successful Event on December 5th in Whitestone’s Market Street Community Center at DC Ranch in Scottsdale, Arizona

Rhea-AI Summary

Whitestone REIT (NYSE: WSR) is hosting its 'Coffee and Cars' event on December 5th, showcasing around 200 exotic cars at Market Street at DC Ranch in Scottsdale, Arizona. The event, co-sponsored by Scuderia Southwest, aims to enhance community engagement and boost local businesses. Previous events have resulted in up to a 25% sales increase for tenants. With expected attendance over 1,000, this initiative reflects Whitestone's strategy of creating thriving communities through local connections and events.

Positive

• Increased tenant sales, reported up to 25% during prior events.
• The event fosters community engagement and local business awareness.
• Expected attendance over 1,000, indicating strong interest and foot traffic.

Negative

• None.

SCOTTSDALE, Ariz., Dec. 01, 2020 (GLOBE NEWSWIRE) -- On December 5^th from 7:00am to 10:00am Mountain Standard Time, Whitestone REIT (NYSE: WSR) welcomes “Coffee and Cars” which will showcase approximately 200 cars including: Ferraris, Lamborghinis, Maseratis, McLarens, Porsches, Ford GT40s, and other exotic race cars and collectables. Over 30 race cars that travel over 200 mph will be featured. The event will be held at Whitestone REIT’s Market Street at DC Ranch center, located at 20789 North Pima Road.

Whitestone launched the Market Street “Coffee and Cars” Event three months ago, and it has been overwhelmingly embraced by the surrounding community and businesses operating at Whitestone’s Market Street center. Many of the businesses that operate and serve the surrounding community will open early to serve the patrons of the event. At previous “Coffee and Cars” events, many Whitestone tenants have reported seeing their sales increase by 25% or more, and are significantly benefitting from the foot traffic and greater awareness the event brings to their businesses.   

Attendance is expected to be over 1,000 people of all age groups and plenty of convenient parking is available. Scuderia Southwest co-sponsors the event with Whitestone REIT.

Jim Mastandrea, Chairman and CEO of Whitestone REIT commented, “We are pleased to welcome Scuderia Southwest back to our DC Ranch community. This event has increased awareness of our center, and the terrific businesses that operate there, and helped our tenants increase their sales volumes. Whitestone strives to Create Communities that Thrive through Creating Local Connections between consumers and the surrounding communities through these types of events which positively contribute to the overall value of the center and associated tenant businesses. We are pleased to host this fantastic event and the Scuderia Southwest organization.”

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 date of the Coffee and Cars event hosted by WSR?

The Coffee and Cars event will take place on December 5th from 7:00am to 10:00am Mountain Standard Time.

Where is the Coffee and Cars event located?

The event will be held at Market Street at DC Ranch, located at 20789 North Pima Road, Scottsdale, Arizona.

How many cars will be showcased at the Coffee and Cars event by WSR?

Approximately 200 cars, including exotic brands like Ferraris, Lamborghinis, and Porsches, will be showcased.

What benefits have WSR tenants reported from previous Coffee and Cars events?

Many tenants reported sales increases of 25% or more due to increased foot traffic from the event.

Who is co-sponsoring the Coffee and Cars event with WSR?

Scuderia Southwest is co-sponsoring the Coffee and Cars event.