News

Phase III Groundbreaking To Add 38,203 Square Feet Of Mixed-Use Space At The Shops At Starwood In Frisco, Texas

Whitestone REIT (NYSE: WSR) (“Whitestone”) broke ground on the much-anticipated Phase III expansion of The Shops at Starwood on Friday, June 26. The highly recognizable, fully-leased center is located in Frisco, Texas at the intersection of the Dallas North Tollway and Lebanon Road.  Phase III will add approximately 26,682 square feet of restaurant and retail space and 11,521 square feet of executive office space to the Class A mixed-use property.  The Phase III expansion will contribute to the growing development along the Dallas North Tollway, which includes the new Dallas Cowboys’ headquarters and training facilities that are located just one mile south of The Shops at Starwood.  Whitestone anticipates that the Phase III development, which exemplifies its strategy of adding value through expansion, will be completed in the first quarter of 2016.

The City of Frisco, Frisco Chamber of Commerce and Frisco Business Ambassadors, Frisco Economic Development Corporation, Frisco Convention and Visitors Bureau, tenants, local media and neighboring businesses attended the groundbreaking ceremony and brunch at the popular Bonnie Ruth’s Cafe.

On behalf of Whitestone, John Dee, chief operating officer and Christine Mastandrea, vice president of corporate strategy hosted the groundbreaking ceremony. City of Frisco Councilmember, Jeff Cheney welcomed Whitestone and Frisco Chamber of Commerce President, Tony Felker presented them with a plaque for their commitment to Frisco.   During the ceremony, Whitestone Construction & Design services welcomed the project partners Byrne Construction Services, Kimley-Horn Associates and architects Selzer Associates.   Byrne’s Chief Executive Officer, Matthew Avila spoke on behalf of the team’s excitement to be working in Frisco.

Starwood PIII groundbreaking

(left to right) Tony Felker, president Frisco Chamber of Commerce, Matthew Avila, CEO Byrne Construction Services, Dave Spagnolo, division director – Dallas region Whitestone, Christine Mastandrea, vice president corporate strategy Whitestone, John Dee, COO  Whitestone, David Ziebarth, project manager Byrne, Gina Harris, construction & design services Whitestone, John Brown, vice president Selzer Associates, Mike Parrish, construction manager Whitestone and Councilmember Jeff Cheney, City of Frisco.

Starwood PIII groundbreaking 2

Members of the Frisco community at The Shops at Starwood Phase III groundbreaking on Friday, June 26.

 

“We are proud to be part of the growing and thriving Frisco community,” said James C. Mastandrea, Chairman and Chief Executive Officer of Whitestone.  “We acquired The Shops at Starwood, including the land that is being used for the Phase III development, four years ago because we strongly believed the area would see tremendous growth in both population and employment.  Our prediction has proven to be right, and with the expansion of The Shops at Starwood, we can better serve the growing community and further contribute to the economic development of Frisco.  Additionally, the Phase III development will give us a competitive leasing advantage in an expanding marketplace.”

The Shops at Starwood typifies Whitestone’s Community Centered PropertyTM business model.  Through this model, Whitestone focuses on bringing a diverse group of both national and local service-oriented tenants to the community.  Benefiting from Whitestone’s forward-thinking operating model, the tenants at the community-oriented center thrive and have established a strong and loyal customer base.  The center’s signature restaurants, unique boutiques and service providers include Bonnie Ruth’s Café Trottoir et Patisserie, TruFire Kitchen & Bar, Kotta Sushi Lounge, The Gent’s Place, Green Peridot Aveda Salon, Paper Affair, Smashburger, Juicer Heroes, Glambo Lily Day Spa, Risi Optique, Starwood Nail Salon, North Star Diagnostic Imaging, DFW Watches, Dimples & Dandelions, Mainstream Boutique, Panache at Home, Pappagallo Women’s Classiques, Starwood Diamonds, Century 21 Fine Homes & Estates, Tupy’s Mexican Restaurant, Revive Cryo and JEM Properties.

 

About Whitestone REIT

Whitestone REIT (NYSE:WSR) is a fully integrated real estate investment trust (“REIT”) that owns, re-develops, repositions, leases, manages and operates Community Centered Properties™.  Whitestone focuses on value creation in its community centers, concentrating on local service-oriented tenants. Whitestone’s diversified tenant base provides service offerings including specialty retail, grocery, restaurants, medical, educational and financial services.  Founded in 1998, the Company is internally managed with a portfolio of 65 commercial properties in Texas, Arizona, and Illinois.  For additional information about the Company, please visit www.whitestonereit.com.

About The Shops at Starwood

The Shops at Starwood is an upscale Community Centered Property™ featuring fine dining, boutique retailers, luxury office space and exceptional personal service amenities. Located at the southwest corner of Dallas North Tollway and Lebanon Road intersection, The Shops at Starwood is just one mile north of the new headquarters and training facilities of Dallas Cowboys. It serves the surrounding community with 212,000 residents and an average household income of $116,000. Since opening in 2006, its timeless architecture and unique tenant mix make The Shops at Starwood a distinctive retail destination in Frisco. It has received rave reviews from the media and community including Development of the Year in 2008 and several “Best of Big D” awards from D Magazine. For additional information about The Shops at Starwood, please visit www.theshopsatstarwood.com.  For leasing information, contact David Spagnolo, Division Director – Dallas Region, or Rob Exline, Leasing Agent, at 214-824-7888.

© 2015 Whitestone REIT

6959 Lebanon Road, Frisco, Texas 75034