HOUSTON-Weingarten Realty Investors officially exited the industrial ownership side of the business with the sale of its interest in three industrial joint ventures to Exeter Property Group's Fund II. The portfolio consisted of nine industrial properties totaling approximately 2.6 million square feet in Houston, and was sold for $21.1 million.

“The completion of this portfolio sale marks our exit from the industrial business and positions Weingarten as a pure-play retail REIT. We will continue our commitment in building shareholder value through the repositioning of the retail portfolio into core markets with high barriers to entry and strong growth potential," says Drew Alexander, Weingarten president and CEO, in a press release.

In early April, 2012, Weingarten unloaded 52 industrial properties in Florida, Georgia, Tennessee and Virginia totaling 9.6 million square feet to DRA. The southeast portfolio went for $382 million.

More recently, Weingarten completed the sale of two non-core, retail assets in October, including Burbank Station located in a suburb of Chicago and Johnston Road Plaza in Charlotte, NC. Burbank was the REIT's final property in Illinois. Year-to-date dispositions have totaled $631 million, including the sale of the industrial portfolio.