Whitestone REIT Acquires Primely Located World Cup Plaza in Frisco, Texas

Center located adjacent to the 21,000-seat Toyota Stadium that attracts more than 1.4 million visitors annually and will serve as a base camp for the 2026 FIFA World Cup

Property strategically situated at the busiest intersection north of 121 and the North Dallas Tollway (~135,000 VPD)

Solidifies Whitestone’s presence in the highly affluent, rapidly growing Dallas submarket

HOUSTON, Nov. 07, 2025 (GLOBE NEWSWIRE) — Whitestone REIT (NYSE: WSR), a neighborhood-focused owner and operator of open-air shopping centers in Texas and Arizona, today announced it has acquired the restaurant-anchored World Cup Plaza in Frisco, Texas, a highly affluent submarket of Dallas. The center is strategically located adjacent to the home of FC Dallas: Toyota Stadium, a 21,000-seat stadium currently undergoing a $182 million renovation designed to enhance the fan experience. The stadium, which attracts more than 1.4 million visitors annually, will serve as an official World Cup Team Base Camp, allowing participating teams to utilize the state-of-the-art facility to train before games.

The 90,391 square-foot World Cup Plaza, situated at the northeast corner of main street and Dallas North Tollway – the busiest intersection north of 121 and North Dallas Tollway (approximately 135,000 vehicles per day) – sits across the street from Frisco Square, a 147-acre pedestrian-friendly, mixed-use development that features 1.5 million square feet of office space and 1,400 apartments. Nearby Memorial and Wakeland High Schools drive repeat, dependable traffic to the center.

“The strategic addition of World Cup Plaza allows us to further strengthen our presence in thriving Frisco, which is home to several headquarters, including the PGA of America and the Dallas Cowboys,” stated Christine Mastandrea, President and COO of Whitestone REIT. “The center aligns with our investment thesis of acquiring well-located, neighborhood shopping centers in growing markets with strong upside potential that can be realized through our best-in-class leasing platform and operational expertise.”

World Cup Plaza, developed in 2007, features a synergistic mix of necessity retailers and restaurants, including Blue Goose Cantina, The Green Gator, The NOW Massage, Hikari Sushi & Grill, Lemma Coffee Roasters, Rotate Bar & Kitchen, Frisco Soccer Association and Wells Fargo. The center serves more than 293,951 people within a 5-mile radius, with an average household income of $149,335. Whitestone expects to leverage its strong leasing relationships and market knowledge to drive further rent growth and improve the customer experience.

Dave Holeman, CEO of Whitestone, commented: “Frisco continues to outpace many markets across the country in both population and economic growth, and we are pleased to add scale here by opportunistically acquiring World Cup Plaza. Not only does this center benefit from strong year-round traffic because of its prime location, but we are expecting a surge in visitors in 2026 because of the World Cup and the center’s proximity to Toyota Stadium. We believe World Cup Plaza presents a unique opportunity to strengthen our portfolio and drive shareholder value, while simultaneously improving the durability of our cash flows.”

In addition to Wold Cup Plaza, Whitestone also owns four other institutional-quality shopping centers nearby, including Headquarters Village, The Shops at Starwood, Lakeside Market and Eldorado Plaza.

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.

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 and results of operations, statements related to our expectations regarding the performance of our business, 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 public health emergencies, such as COVID-19, on our tenants’ ability to pay their rent, which could result in bad debt allowances or straight-line rent reserve adjustments; increases in interest rates, including as a result of inflation operating costs or general and administrative expenses; our current geographic concentration in the Houston and Phoenix metropolitan area makes us susceptible to local economic downturns and natural disasters, such as floods and hurricanes, which may increase as a result of climate change, increasing focus by stakeholders on environmental, social, and governance matters, financial institution disruption; 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; harm to our reputation, ability to do business and results of operations as a result of improper conduct by our employees, agents or business partners; 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; risks related to generative artificial intelligence tools and language models, along with the potential interpretations and conclusions they might make regarding our business and prospects, particularly concerning the spread of misinformation; 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 conflict in the Gaza Strip and unrest in the Middle East; the need to fund tenant improvements or other capital expenditures out of operating cash flow; the extent to which our estimates regarding Pillarstone REIT Operating Partnership LP’s financial condition and results of operations differ from actual results; 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

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