Whitestone REIT (NYSE: WSR - "Whitestone" or the "Company"), a real estate investment trust that acquires, owns and operates Community Centered PropertiesTM, today reported its portfolio occupancy and leasing highlights for the fourth quarter of 2013. The occupancy of Whitestone's Operating Portfolio, which excludes new acquisitions and properties undergoing significant redevelopment or re-tenanting, was 88.1% as of December 31, 2013, up 220 basis points from the prior quarter and up 140 basis points from the same quarter in the prior year. Total occupancy as of December 31, 2013 was 86.8%, up 180 basis points from September 30, 2013, and up 200 basis points from December 31, 2012. During the fourth quarter of 2013, the leasing team signed 91 leases totaling 236,043 square feet in new, expansion and renewal leases. The average lease size was 2,594 square feet. For the fourth quarter of 2013, total lease value added was $10.8 million, compared to $11.3 million of total lease value added in the fourth quarter of 2012. For the twelve months ended December 31, 2013, total lease value added was $44.2 million, up 25% when compared to full year 2012.

James C. Mastandrea, Whitestone's Chairman and Chief Executive Officer, said, "We continue to increase occupancy as the fourth quarter 2013 numbers reflect and our focus on leasing our centers with a tenant mix that increases traffic is proving effective in serving the surrounding communities." Mastandrea added, "The fourth quarter acquisitions of Fountain Hills and Market Street at DC Ranch in Phoenix, and Woodlands II, north of Houston, add national credit tenants to our base and provide additional value-add opportunities." Mastandrea concluded, "Our investment approach is to purchase properties that add value while providing cash flow, and target redevelopment opportunities within existing properties that include developing outparcels and vacant land which we have embedded in our portfolio of properties in Houston, Dallas, San Antonio and Phoenix. We remain optimistic about 2014 and our ability to harvest our intrinsic value. As the economy continues to strengthen, existing tenants expand their businesses, new tenants seek space in our well-located centers, and the value of our assets increase."

About Whitestone REIT

Whitestone REIT (NYSE:WSR) is a fully integrated real estate investment trust that owns, operates and redevelops Community Centered PropertiesTM. Whitestone focuses on value creation in its community centers, concentrating on local service-oriented tenants that comprise approximately 70% of its tenants. Whitestone's diversified tenant base provides service offerings including medical, education, casual dining, and convenience services. The largest of its approximately 1,250 tenants comprised less than 1.6% of its annualized base rental revenues as of September 30, 2013. Founded in 1998, the Company is internally managed with a portfolio of 59 commercial properties in Texas, Arizona, and Illinois. For additional information about the Company, please visit www.whitestonereit.com. The Investor Relations section of the Company's website contains filings made with the Securities and Exchange Commission, news releases and financial reports.

Forward-Looking Statements

Statements included herein that state the Company's or management's intentions, hopes, beliefs, expectations or predictions of the future are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, which by their nature, involve known and unknown risks and uncertainties. The Company's actual results, performance or achievements could differ materially from those expressed or implied by these statements. Reference is made to the Company's regulatory filings with the Securities and Exchange Commission for information or factors that may impact the Company's performance.

Whitestone REIT
Suzy Taylor, 713-435-2219
Director of Investor Relations
STaylor@WhitestoneREIT.com