Whitestone REIT Signs Lease with EoS Fitness to Reenergize Windsor Park Center in San Antonio
Whitestone REIT (NYSE: WSR) has signed a lease with EoS Fitness for a 40,000-square-foot location at Windsor Park Center in San Antonio, marking their second partnership. This follows EoS Fitness's successful opening at Williams Trace Plaza in Sugar Land, Texas, where it has increased customer traffic by 60% since September 2024.
The gym chain, known for its High Value Low Price (HVLP)® model, will open at Windsor Park Center in 2026. At Williams Trace Plaza, recent tenant additions including EoS Fitness have contributed to a 30% increase in Net Operating Income from Q3 2022. The company expects further growth in 2025 with the development of a new pad site along Williams Trace Boulevard.
Whitestone REIT (NYSE: WSR) ha firmato un contratto di locazione con EoS Fitness per una sede di 40.000 piedi quadrati presso Windsor Park Center a San Antonio, segnando così la loro seconda collaborazione. Questo accordo segue l'apertura di successo di EoS Fitness presso Williams Trace Plaza a Sugar Land, Texas, dove ha incrementato il traffico clienti del 60% dal settembre 2024.
La catena di palestre, nota per il suo modello High Value Low Price (HVLP)®, aprirà al Windsor Park Center nel 2026. Presso Williams Trace Plaza, le recenti aggiunte di inquilini, tra cui EoS Fitness, hanno contribuito a un aumento del 30% del Netto Reddito Operativo dal terzo trimestre del 2022. L'azienda prevede ulteriori crescita nel 2025 con lo sviluppo di un nuovo sito lungo Williams Trace Boulevard.
Whitestone REIT (NYSE: WSR) ha firmado un contrato de arrendamiento con EoS Fitness para un local de 40,000 pies cuadrados en Windsor Park Center en San Antonio, marcando su segunda asociación. Esto sigue a la exitosa apertura de EoS Fitness en Williams Trace Plaza en Sugar Land, Texas, donde ha aumentado el tráfico de clientes en un 60% desde septiembre de 2024.
La cadena de gimnasios, conocida por su modelo High Value Low Price (HVLP)®, abrirá en Windsor Park Center en 2026. En Williams Trace Plaza, las recientes incorporaciones de inquilinos, incluida EoS Fitness, han contribuido a un aumento del 30% en los Ingresos Operativos Netos desde el tercer trimestre de 2022. La compañía espera un mayor crecimiento en 2025 con el desarrollo de un nuevo sitio a lo largo de Williams Trace Boulevard.
Whitestone REIT (NYSE: WSR)는 EoS Fitness와 샌안토니오에 있는 윈저 파크 센터의 40,000 제곱피트 공간에 대한 임대 계약을 체결하였으며, 이는 두 번째 파트너십을 의미합니다. 이는 EoS Fitness가 텍사스 슈거 랜드의 윌리엄스 트레이스 플라자에서 성공적으로 오픈한 후 고객 수가 2024년 9월 이후 60% 증가했음을 나타냅니다.
하이 밸류 로우 프라이스(HVLP)® 모델로 알려진 이 체육관 체인점은 2026년에 윈저 파크 센터에서 개장할 예정입니다. 윌리엄스 트레이스 플라자에서 EoS Fitness를 포함한 최근의 세입자 추가는 2022년 3분기 이후 순영업소득이 30% 증가하는 데 기여했습니다. 회사는 2025년에 윌리엄스 트레이스 불러바드를 따라 새로운 패드 사이트 개발로 더욱 성장할 것으로 기대하고 있습니다.
Whitestone REIT (NYSE: WSR) a signé un bail avec EoS Fitness pour un emplacement de 40 000 pieds carrés au Windsor Park Center à San Antonio, marquant leur deuxième partenariat. Cela fait suite à l'ouverture réussie d'EoS Fitness au Williams Trace Plaza à Sugar Land, Texas, où le trafic client a augmenté de 60 % depuis septembre 2024.
La chaîne de salles de sport, connue pour son modèle High Value Low Price (HVLP)®, ouvrira au Windsor Park Center en 2026. À Williams Trace Plaza, les récentes additions de locataires, y compris EoS Fitness, ont contribué à une augmentation de 30 % du Revenu Net d'Exploitation depuis le troisième trimestre 2022. L'entreprise prévoit une nouvelle croissance en 2025 avec le développement d'un nouveau site le long du Williams Trace Boulevard.
Whitestone REIT (NYSE: WSR) hat einen Mietvertrag mit EoS Fitness für eine 40.000 Quadratfuß große Fläche im Windsor Park Center in San Antonio unterzeichnet, was ihre zweite Partnerschaft markiert. Dies folgt auf die erfolgreiche Eröffnung von EoS Fitness im Williams Trace Plaza in Sugar Land, Texas, wo der Kundenverkehr seit September 2024 um 60% gestiegen ist.
Die Fitnessstudio-Kette, bekannt für ihr High Value Low Price (HVLP)®-Modell, wird 2026 im Windsor Park Center eröffnen. Im Williams Trace Plaza haben die jüngsten Mieter, darunter EoS Fitness, zu einem Anstieg des Netto-Betriebsergebnisses um 30% seit dem dritten Quartal 2022 beigetragen. Das Unternehmen erwartet 2025 weiteres Wachstum mit der Entwicklung eines neuen Grundstücks entlang der Williams Trace Boulevard.
- 60% increase in customer traffic at Williams Trace Plaza location since September 2024
- 30% increase in Net Operating Income at Williams Trace Plaza from Q3 2022
- Secured 40,000-square-foot anchor tenant lease at Windsor Park Center
- Successfully executing portfolio remerchandising strategy with multiple new tenant additions
- None.
Insights
This lease agreement with EoS Fitness represents a significant strategic move for Whitestone REIT. The 40,000-square-foot location at Windsor Park Center follows a successful 51,530-square-foot facility at Williams Trace Plaza that has already demonstrated impressive results, boosting customer traffic by
The expansion aligns with Whitestone's remerchandising strategy, focusing on high-traffic anchor tenants in the food and fitness sectors. The long-term lease with a growing national chain provides stable income potential and demonstrates Whitestone's ability to attract quality tenants. The planned 2026 opening suggests a forward-looking revenue pipeline, while the additional pad site development at Williams Trace indicates further NOI growth potential for 2025.
EoS Fitness's expansion with Whitestone REIT reflects a strategic alignment with post-pandemic consumer behavior trends. The HVLP (High Value, Low Price) model is particularly well-positioned in the current economic environment where consumers seek value but aren't willing to compromise on quality. The brand's strong community integration and repeat customer base make it an ideal anchor tenant for driving consistent foot traffic to retail centers.
The tenant mix optimization strategy at Williams Trace Plaza, combining fitness with diverse retail and service offerings, has proven successful with the
Marks second agreement Whitestone has executed with the rapidly growing, High Value. Low Price. (HVLP)® fitness brand
Innovative amenities and affordable fitness options support Whitestone’s community-oriented and customer-first mission
HOUSTON, Dec. 10, 2024 (GLOBE NEWSWIRE) -- Whitestone REIT (NYSE: WSR) ("Whitestone” or the “Company”), a hands-on owner and manager of open-air shopping centers located in high-growth neighborhoods in Texas and Arizona, today announced that it has expanded its relationship with the rapidly growing, High Value. Low Price. (HVLP)® gym brand EoS Fitness. EoS Fitness will open an approximate 40,000-square-foot location at Whitestone’s Windsor Park Center in San Antonio, marking the second lease agreement the Company has executed with the leading national gym chain. EoS Fitness recently joined the tenant mix at Whitestone’s Williams Trace Plaza in Sugar Land, Texas.
With more than 175 locations open or on the way, EoS Fitness is a leader in the fitness industry, offering an inclusive and welcoming environment for exercise practitioners of every level. The brand offers top-of-the-line health, fitness and wellness amenities, a variety of high-energy group fitness classes and innovative recovery options where members can focus on improving their overall wellbeing and achieving their fitness goals. EoS Fitness draws steady, repeat foot traffic and is heavily embedded with the communities in which it operates.
“Whitestone enjoys a strong sense of connection with the neighborhoods we serve, and it is deeply important to us that we bring in brands like EoS Fitness that align with our community-oriented and customer-first mission,” stated Christine Mastandrea, COO of Whitestone REIT. “We truly believe that is the reason our customers continue frequenting our centers and why we stand out among today’s most exciting and forward-thinking retailers and restaurants. This unique approach has proven highly effective at creating sustained value for all of our stakeholders.”
Since opening its state-of-the-art, 51,530-square-foot facility at Williams Trace Plaza in September 2024, EoS Fitness has boosted customer traffic by
“We have worked hard to remerchandise our centers over the last few quarters in order to drive Same Store NOI Growth, provide our communities with better optionality, and increase shareholder value,” said Dave Holeman, CEO of Whitestone REIT. “We continue to feel strongly that differentiated food and fitness concepts drive significant levels of repeat customer traffic and sales, and will look to these categories as we work diligently to make additional anchor upgrades throughout our portfolio.”
EoS Fitness is a synergistic addition to the retail lineups at both Windsor Park Center and Williams Trace Plaza. The full-service gym is among a host of new retailers that have recently opened at Williams Trace, joining Bank of the Orient, Engineering for Kids, Pizza Twist, Gameday Men’s Health, Loty Beauty Retreat and Rewax and Unwine. These new additions have boosted Net Operating Income (NOI) at the center by
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 fastest growing markets in the country: Phoenix, Austin, Dallas-Fort Worth, Houston and San Antonio.
Our centers are convenience focused: merchandised with a mix of service-oriented tenants providing food (restaurants and grocers), self-care (health and fitness), services (financial and logistics), education and entertainment to the surrounding communities. The Company believes its strong community connections and deep tenant relationships are key to the success of its current centers and its acquisition strategy. For additional information, please visit the Company's investor relations website.
About EoS Fitness
EoS Fitness, a leader in the fitness industry with its High Value. Low Price. (HVLP)® gyms, is an inclusive and welcoming organization committed to empowering exercise practitioners of all experience levels. With more than 175 gym locations open and on the way in Arizona, Florida, Georgia, Nevada, Southern California, Texas and Utah, EoS Fitness is rapidly expanding. Providing serious fitness options, EoS Fitness offers the best equipment, high-energy workout classes, top-notch amenities, and extensive personal training options starting at just
Forward-Looking Statements
This Report contains forward-looking statements within the meaning of the federal securities laws, including discussion and analysis of our financial condition, pending acquisitions and the impact of such acquisitions on our financial condition and results of operations, anticipated capital expenditures required to complete projects, amounts of anticipated cash distributions to our shareholders in the future and other matters. These forward-looking statements are not historical facts but are the intent, belief or current expectations of our management based on its knowledge and understanding of our business and industry. Forward-looking statements are typically identified by the use of terms such as “may,” “will,” “should,” “potential,” “predicts,” “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates” or the negative of such terms and variations of these words and similar expressions, although not all forward-looking statements include these words. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements.
Factors that could cause actual results to differ materially from any forward-looking statements made in this Report include: the imposition of federal income taxes if we fail to qualify as a real estate investment trust (“REIT”) in any taxable year or forego an opportunity to ensure REIT status; uncertainties related to the national economy, the real estate industry in general and in our specific markets; legislative or regulatory changes, including changes to laws governing REITs; adverse economic or real estate developments or conditions in Texas or Arizona, Houston and Phoenix in particular, including the potential impact of COVID-19 on our tenants’ ability to pay their rent, which could result in bad debt allowances or straight-line rent reserve adjustments; inflation and increases in interest rates, operating costs or general and administrative expenses; availability and terms of capital and financing, both to fund our operations and to refinance our indebtedness as it matures; decreases in rental rates or increases in vacancy rates; litigation risks; lease-up risks, including leasing risks arising from exclusivity and consent provisions in leases with significant tenants; our inability to renew tenant leases or obtain new tenant leases upon the expiration of existing leases; our inability to generate sufficient cash flows due to market conditions, competition, uninsured losses, changes in tax or other applicable laws; geopolitical conflicts, such as the ongoing conflict between Russia and Ukraine; the need to fund tenant improvements or other capital expenditures out of operating cash flow; and the risk that we are unable to raise capital for working capital, acquisitions or other uses on attractive terms or at all and other factors detailed in the Company's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents the Company files with the Securities and Exchange Commission from time to time.
Contacts:
For Whitestone REIT – Investors
David Mordy
(713) 435-2219
ir@whitestonereit.com
For Whitestone REIT – Media:
Matthew Chudoba
WhitestonePR@icrinc.com
For EoS Fitness – Media:
Melissa Rue
(208) 850-5939
mkr@nstpr.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9dd565c2-1bf8-4a36-8ac8-b6482a20565c
FAQ
When will EoS Fitness open at Whitestone REIT's Windsor Park Center in San Antonio?
How much has customer traffic increased at WSR's Williams Trace Plaza since EoS Fitness opened?
What is the size of the new EoS Fitness location at WSR's Windsor Park Center?
How much has Net Operating Income increased at WSR's Williams Trace Plaza?
