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Whitestone REIT Acquires Garden Oaks Retail Center
Whitestone REIT acquired the Garden Oaks, a 106,858-square-foot, grocery-anchored retail center located in Houston. The center includes Aldi, Planet Fitness, Dollar Tree, Subway, and Leslie’s Poolsmart. It’s 96% occupied. The retail center is located in the heart of Garden Oaks on Shepherd Drive and spans from W. 38th Street to Garden Oaks Blvd.
Whitestone REIT’s Christine Mastandrea added, “Garden Oaks property values are up nearly 50% since 2019, and the area is poised to continue with very strong growth as young professionals settle beyond the Heights area and take advantage of the larger plots and tree-lined streets in Garden Oaks.
JLL represented the seller, a subsidiary of Silver Star Properties REIT, Inc. “Silver Star’s disposition of Garden Oaks Shopping Center was a major transaction for the firm as it pivots from ownership of legacy assets in the traditional commercial property sectors to self-storage and positions its Hartman SPE, LLC subsidiary to exit from bankruptcy,” said Silver Star’s David Wheeler.
