The acquisition expands the REIT’s footprint in a submarket that it says is a preferred location for companies and young professionals in the TAMI sector.
Canyon Partners Real Estate and Pacific Western Bank partnered to provide the construction loan.
Torrey Square posted the lowest base rent per-leased-square-foot in Whitestone’s wholly-owned portfolio. Since its IPO in 2010, Whitestone has improved its base rent per leased square foot by over 80%.
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