Weingarten Realty
| File:Weingarten Realty logo.png | |
| Industry | Real estate investment trust |
|---|---|
| Founded | 1948 |
| Defunct | August 4, 2021 |
| Fate | Acquired by Kimco Realty |
| Headquarters | Houston, Texas |
Key people | Stanford Alexander (chairman) Andrew M. Alexander (CEO) Stephen C. Richter (CFO) |
| Revenue |  $433 million (2020) |
| $118 million (2020) | |
| Total assets |  $3.961 billion (2020) |
| Total equity | $1.800 billion (2020) |
Number of employees | 243 (2020) |
| Footnotes / references [1] | |
Weingarten Realty Investors was a real estate investment trust that invested in shopping centers, primarily in the Southern United States and primarily with grocery stores as the anchor stores.[1] In August 2021, the company was acquired by Kimco Realty.
As of December 31, 2020, the company owned interests in 159 properties comprising 30.2 million square feet.[1] In 2020, 20.6% of the company's revenues were generated from properties in the Houston area and 30.4% of the company's revenues were generated from properties in Texas.[1]
History
[edit | edit source]In the 1880s, Hersch Harris Weingarten, a poor Jewish immigrant from Łańcut (what was then Austria-Hungary),[2] started a grocery business in Houston called Weingarten's.[3]
In 1948, Joseph Joe Weingarten, the eldest son of Harris Weingarten founded Weingarten Realty to build stores for his father's business.[3] In 1980, Safeway Inc. purchased the grocery operations.[3]
In 1985, the company became a public company via an initial public offering.[3]
In 2002, the company acquired 3 shopping centers for $46.2 million.[4][5]
In 2012, the company sold all of its industrial assets for $382.4 million.[6]
In August 2021, Kimco Realty acquired the company.[7]
References
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