Weingarten Realty

Weingarten Realty
Public (NYSE: WRI)
Industry Real Estate Investment Trust
Founded 1948
Headquarters Houston, Texas, USA
Key people
 Stanford Alexander, Chairman
Drew Alexander, President & CEO
Johnny Hendrix, COO
Steve Richter, CFO
Products Shopping Centers
Revenue $524.9 million (2013)
Website www.weingarten.com
Weingarten Realty headquarters

Weingarten Realty Investors (NYSE: WRI[1]) is a real estate investment trust (REIT),[2] headquartered in Houston, Texas.[3] Weingarten Realty is a shopping center owner, manager and developer. The majority of the shopping centers are anchored by a supermarket or a national value-oriented retailer and are located in neighborhood and community centers. As of 2012, it was Houston's largest commercial real estate property owner.[4] At September 30, 2014, Weingarten Realty owned or operated 251 retail properties in 21 states in the U.S., representing 47.4 million square feet of commercial real estate.[5]

History

In the 1880s Harris Weingarten, a man who left Poland, started a dry goods store in Houston. The current company was established in 1948 as the Weingarten Markets Realty; at the time it operated Weingarten's supermarkets. Joe, the eldest son of Harris Weingarten, established the current company. In 1980 the company left the supermarket market.[4]

The Houston Business Journal, in its July 2011 ranking of Houston’s Top 100 Public Companies, placed Weingarten at No. 93.[4]

In 2012 Weingarten announced that it was leaving the industrial real estate sector and selling all of its industrial holdings, worth $382.4 million, to DRA Advisors LLC, a company based in New York City. The property sold included 52 real estate properties in the states of Florida, Georgia, Tennessee, Texas, and Virginia. Of the industrial holdings, 2,300,000 square feet (210,000 m2) of building space was in Houston.[4]

In October 2013 Weingarten bought the Mueller Regional Retail Center in Austin.[6]

Officers

Stanford Alexander, Chairman
Stanford Alexander is currently the Chairman of Weingarten Realty Investors and serves on the Board of Trustees. He joined WRI in the early 1950s after completing the Executive Training program at J. Weingarten, Inc., the family's supermarket chain. He was named President of the realty company in 1962. In 1997, he was appointed Chairman and CEO and served as the chief executive officer until December 31, 2000.
Stanford attended the University of Texas, graduating with a Bachelors Degree in Business Administration. A year later, he attended Harvard Business School where he received his MBA. He then served as a lieutenant in the United States Air Force during the Korean war.
Mr. Alexander is a past chairman of the National Association of Real Estate Investment Trusts and is still active on the Executive Committee and Board of Governors. Stanford is also a longtime member of the International Council of Shopping Centers.

Drew Alexander, President and CEO
After graduating from the University of Texas(Austin), Drew Alexander joined Weingarten Realty in 1978 as a leasing executive in the Retail Division. He was appointed the Company's chief executive officer in 2001, after holding various positions, one of which was being named President in 1997. Mr. Alexander is a trustee and former chairman of The International Council of Shopping Center, as well as a past trustee of the National Association of Real Estate Investment Trusts.[7]

Johnny Hendrix, Executive Vice President and COO
Johnny Hendrix was named Chief Operating Officer in 2010 after serving as Executive Vice President, Asset Management and Sr. VP, Director of Leasing. Mr. Hendrix started at Weingarten Realty in 1986 as a leasing executive. He now is responsible for all operations and growth of the Company’s retail portfolio and oversees the company’s leasing, legal, acquisitions and property management functions. Mr. Hendix received his BBA from the University of Texas in 1980 and is also a graduate of The Advanced Management Program at Harvard Business School. He is an active member of International Council of Shopping Centers (ICSC), the National Association of Real Estate Investment Trusts (NAREIT) and the Urban Land Institute (ULI).[8]

Steve Richter, Executive Vice President and CFO
Steve Richter has held several financial management positions, including Controller and Treasurer since 1980 when he joioned Weingarten Realty, and before being named Executive Vice President and Chief Financial Officer in 2000. Mr. Richter is a graduate of Sam Houston State University with a BBA in Accounting and also became a Certified Public Accountant (CPA). He is responsible for the financial matters of the Company, compliance with all securities laws and investor relations. He is an active member of the National Association of Real Estate Investment Trusts (NAREIT), the National Association of Real Estate Companies (NAREC), where he served as past officer and director, and the International Council of Shopping Centers (ICSC).[9]

Offices

The corporate office is located in Houston, Texas.

Regional offices are located in:

References

  1. ↑ "WRI." Yahoo! Finance. Retrieved on April 15, 2014.
  2. ↑ "Houston REIT buys Atlanta industrial property." Atlanta Business Chronicle. January 14, 2013. Retrieved on April 15, 2014.
  3. ↑ "Contact." Weingarten Realty. Retrieved on April 15, 2014. "Executive Offices: 2600 Citadel Plaza Dr. #125 Houston, TX 77008"
  4. 1 2 3 4 Dawson, Jennifer. "Weingarten Realty selling $382.4M in assets." Houston Business Journal. April 11, 2012. Retrieved on April 15, 2014.
  5. ↑ "."
  6. ↑ Buchholz, Jan. "High-profile Houston company buys Mueller shopping center." Austin Business Journal. October 10, 2013. Retrieved on April 15, 2014.
  7. ↑ "Weingarten Realty – Drew Alexander".
  8. ↑ "Weingarten Realty – Johnny Hendrix".
  9. ↑ "Weingarten Realty – Stephen Richter".

Further reading

External links


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