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Weingarten Realty Announces Best Buy Has Signed a Lease for 30,000 Square Feet at Ridgeway Trace Shopping Center

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^{Published in Business and Finance on Wednesday, December 10th 2008 at 13:26 GMT by Market Wire}  

MEMPHIS, Tenn.--([ BUSINESS WIRE ])--Weingarten Realty (NYSE:WRI) announced today that Best Buy signed a 30,000-square-foot lease as a co-anchor, along with Target, at Ridgeway Trace Shopping Center in Memphis, Tennessee. Best Buy is a multi-national retailer of technology and entertainment products and services and is a leader in their category. The grand opening for Best Buy is scheduled for the spring of 2010.

Conveniently located in one of the city's busiest retail corridors at the SEC of Poplar Avenue & Interstate 240, Ridgeway Trace Shopping Center will serve the densely populated and affluent East Memphis and Germantown trade areas. Along with Best Buy, Ridgeway Trace will be anchored by Target and other national tenants which are yet to be announced. Target is scheduled to open the spring of 2009 with the remaining stores to follow in the Spring of 2010.

Brooke J. Harvey, Senior Leasing Director for Weingarten Realty, commented, "We have been working on the anchors for Ridgeway for quite some time and are very excited that Best Buy signed a lease to anchor the westernmost portion of this new center. As the world's largest retailer of consumer electronics and entertainment products, we are ecstatic that Best Buy has agreed to join Target at Ridgeway Trace Shopping Center, along with other tenants that are yet to be announced. Best Buy is one of the most sought after anchor tenants in the United States and will be a huge draw for area residents as well as their fellow merchants in the shopping center. Best Buy is always a strong consideration for Weingarten when identifying a list of prospective anchor tenants, especially when seeking a consumer electronics store as they are the leader in their category, in my opinion."

Best Buy's opening at Ridgeway Trace will be the fourth location in the Memphis Metropolitan area.

About Best Buy Co., Inc.:

With operations in the United States, Canada, Europe and China, Best Buy Co., Inc. (NYSE: BBY) is a multinational retailer of technology and entertainment products and services with a commitment to growth and innovation. The Best Buy Co., Inc. family of brands collectively generates more than $40 billion annual revenue and includes brands such as Best Buy, Audiovisions, The Carphone Warehouse, Future Shop, Geek Squad, Jiangsu Five Star, Magnolia Audio Video, Pacific Sales Kitchen and Bath Centers, The Phone House and Speakeasy. Approximately 165,000 employees apply their talents to help bring the benefits of these brands to life for customers through retail locations, multiple call centers and web sites, in-home solutions, product delivery and in our communities. Community partnership is central to the way Best Buy does business. In fiscal 2008, the company donated a combined $31.8 million to improve the vitality of the communities where Best Buy employees and customers live and work. For more information about Best Buy Co., Inc., visit [ www.bestbuy.com ].

About Weingarten Realty Investors:

As one of the largest real estate investment trusts listed on the New York Stock Exchange, Weingarten Realty Investors (NYSE: WRI) is celebrating its 60th anniversary as a commercial real estate owner, manager and developer, incorporated in 1948.Focused on delivering solid returns to shareholders, Weingarten is actively developing, acquiring, and intensively managing properties in 23 states that span the United States from coast-to-coast. The Company's portfolio of 415 properties includes 335 neighborhood and community shopping centers and 80 industrial properties. Including tenant-owned square footage, the Company's portfolio currently totals more than 72 million square feet under management.Weingarten has one of the most diversified tenant bases of any major REIT in its sector, with the largest of its 5,700 tenants comprising less than 3% of its rental revenues. To learn more about the Company's operations and growth strategies, please visit [ http://www.weingarten.com ].