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News Breaks | | | | September 25, 2012 | | 05:26 EDT |  | WSR | Whitestone REIT acquires Village Square at Dana Park for $50.5M
Whitestone REIT announced that it has closed on the off-market purchase of Village Square at Dana Park, a 310,979 square foot Community Center located in the Mesa submarket of Phoenix, plus six developed pads and the adjacent 4.7 acre parcel of development land to add another 200,000 square feet of leasable space, for $50.5M, or $162 per square foot. The purchase price for the Center, which has in-place cash flow, was an all-cash, all-inclusive transaction, and represents a 45% discount to estimated replacement cost. | |
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