Whitestone REIT sells Houston industrial building; moves to retail

​HOUSTON – Whitestone REIT has sold its Brookhill warehouse/flex building in Houston for $3.1 million.

The sale is part of the Houston REIT’s purification of its portfolio as the firm focuses on neighborhood and community retail properties.

The 75,000-sf Brookhill building is located near at the southeast corner of Brookhill Dr. and South Wayside Dr., near Gulfgate Mall.

Brookhill is the fourth legacy property Whitestone has sold and currently has another three properties listed for sale.

All seven properties were part of the original portfolio that was in place when the current management team took over the company in late 2006.

Whitestone expects to continue its disposition of non-core assets throughout 2016 and anticipates that it will recycle the proceeds into properties located in fast growing cities where it currently owns real estate and other similar markets in business friendly states.