Form: 8-K

Current report

Exhibit 99.2





 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SUPPLEMENTAL DISCLOSURE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended June 30, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





TABLE OF CONTENTS
 
 
 
 
 
 
 
 
 
 
 
 
Page
 
 
 
Glossary of Terms
1
 
 
 
Results Overview
3
 
 
 
Financial Summary
 
 
 
 
 
Consolidated Balance Sheets
5
 
 
 
 
Consolidated Statements of Operations
6
 
 
 
 
Consolidated Statements of Cash Flows
7
 
 
 
 
Reconciliation of Net Income (Loss) to EBITDA
8
 
 
 
 
Reconciliation of Net Income (Loss) to FFO
9
 
 
 
 
Supplemental Balance Sheet Detail
10
 
 
 
 
NOI Detail, Supplemental Statements of Operations Detail, Operating Ratios & Additional Disclosures
11
 
 
 
 
Same Property NOI Analysis & Reconciliation to Net Loss Attributable to Common Stockholders
12
 
 
 
 
Capital Expenditures
13
 
 
 
 
Capitalization, Liquidity & Debt Ratios
14
 
 
 
 
Debt Overview
15
 
 
 
 
Summary of Outstanding Debt
16
 
 
 
 
Unsecured Credit Facility Covenant Disclosure
18
 
 
 
 
Reconciliation of GAAP Balance Sheet to Pro Forma Balance Sheet
19
 
 
 
 
Reconciliation of GAAP Statements of Operations to Pro Forma Statements of Operations
20
 
 
 
Transaction Summary
 
 
 
 
 
Acquisitions
22
 
 
 
 
Dispositions
23
 
 
 
IPO Portfolio Summary
 
 
 
 
 
Portfolio Overview
25
 
 
 
 
Top Forty Retailers Ranked by ABR
26
 
 
 
 
New & Renewal Lease Summary
27
 
 
 
 
New Lease Net Effective Rent
28
 
 
 
 
Anchor Space Repositioning Summary
29
 
 
 
 
Lease Expiration Schedule
30
 
 
 
 
Redevelopment Summary
31
 
 
 
 
Properties by Largest US MSAs
32
 
 
 
 
Largest MSAs by ABR
34
 
 
 
 
Properties by State
37
 
 
 
 
Property List
38
 
 
 
Guidance
 
 
 
 
 
Guidance & Additional Disclosures
50
 
 
 
 
 
 
 
 
 
 
 
 
 
 
This presentation includes financial information for the Company’s actual results and the IPO portfolio on a pro forma basis giving effect to the Company’s initial public offering completed on November 4, 2013.
 
 
 
 
 
 
 
Note: Financial information is unaudited.
 
 
 
For additional information visit: www.brixmor.com.
 
 
 
 
 
 
 
 
 
This Supplemental Disclosure may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to the Company’s expectations regarding the performance of its business, its financial results, its liquidity and capital resources and other non-historical statements. You can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including those described under the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013 filed with the SEC on March 12, 2014, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this document and in the Company’s filings with the SEC. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 





GLOSSARY OF TERMS
 
 
 
 
 
 
Term
Definition
 
 
 
 
 
 
Acquired Properties
Includes 43 properties contributed to the portfolio by certain investment funds affiliated with The Blackstone Group L.P. in connection with the IPO
 
 
 
completed on November 4, 2013. The Acquired Properties were acquired in exchange for units in the Operating Partnership ("OP Units").
 
 
 
 
 
 
Anchor Spaces
Means space equal to or more than 10,000 sq. ft. of GLA.
 
 
 
 
 
 
Anchor Space Repositioning
Anchor leasing that is primarily focused on reconfiguring or remerchandising existing space with minimal work required outside of normal tenant
 
 
 
improvement costs.
 
 
 
 
 
 
Annualized Base Rent or "ABR"
As of a specified date means monthly base rent as of such date, under leases which have been signed or commenced as of the specified date multiplied
 
 
 
by 12. Annualized base rent (i) excludes tenant reimbursements or expenses borne by the tenants, such as the expenses for real estate taxes and
 
 
 
insurance and common area and other operating expenses, (ii) does not reflect amounts due per percentage rent lease terms, (iii) is calculated on a cash
 
 
 
basis and differs from how rent is calculated in accordance with GAAP for purposes of financial statements and (iv) does not include any ancillary
 
 
 
income at a property.
 
 
 
 
 
 
ABR per sq. ft. or "ABR/SF"
Is calculated as ABR divided by leased GLA, excluding ground leases.
 
 
 
 
 
 
Billed GLA
Includes leases for spaces where the tenant is currently paying rent.
 
 
 
 
 
 
Blended Lease Spreads
Means combined spreads for new and renewal leases (including exercised options) on comparable leases.
 
 
 
 
 
 
Capitalization Rate ("Cap Rate")
Net operating income divided by purchase price.
 
 
 
 
 
 
Community Shopping Center
Means a shopping center that meets the International Council of Shopping Centers’ (“ICSC”) definition of community center. ICSC generally defines a
 
 
 
community center as a shopping center with general merchandise or convenience-oriented merchandise. Although similar to a neighborhood center (as
 
 
 
defined below), a community shopping center offers a wider range of apparel and other soft goods than a neighborhood center.
 
 
 
Community centers range from 125,000 to 400,000 sq. ft. in GLA and are usually configured in a straight line as a strip and are commonly anchored by
 
 
 
discount stores, supermarkets, drugstores and large specialty discount stores.
 
 
 
 
 
 
Comparable Leases
Include only those spaces that were occupied within the prior 12 months.
 
 
 
 
 
 
EBITDA & Adjusted EBITDA
Is calculated as the sum of net income (loss) in accordance with generally accepted accounting principles in the United States of America (“GAAP”)
 
 
 
before interest expense, income taxes, depreciation and amortization. Adjusted EBITDA represents EBITDA as adjusted for (i) acquisition related costs,
 
 
 
(ii) gain (loss) on disposition of operating properties, (iii) impairment of real estate assets and real estate equity investments, (iv) gain (loss) on disposition of
 
 
unconsolidated joint ventures, (v) gain (loss) on extinguishment of debt, and (vi) after adjustments attributable to non-controlling interests not convertible
 
 
 
into common stock.
 
 
 
EBITDA and Adjusted EBITDA are supplemental, non-GAAP measures utilized in various financial ratios and are helpful to securities analysts, investors and
 
 
 
other interested parties in the evaluation of REITs, as a measure of Brixmor’s operational performance because EBITDA and Adjusted EBITDA exclude
 
 
 
various items that do not relate to or are not indicative of its operating performance. In addition, it includes the results of operations of real estate
 
 
 
properties that have been sold or classified as real estate held for sale at the end of the reporting period. Accordingly, the use of EBITDA and Adjusted
 
 
 
EBITDA in various ratios provides a meaningful performance measure as it relates to its ability to meet various coverage tests for the stated period.
 
 
 
EBITDA and Adjusted EBITDA should not be considered as alternatives to net income (determined in accordance with GAAP) as indicators of financial
 
 
 
performance and are not alternatives to cash flow from operating activities (determined in accordance with GAAP) as a measure of liquidity.
 
 
 
Non-GAAP financial measures have limitations as they do not include all items of income and expense that affect operations, and accordingly, should
 
 
 
always be considered as supplemental to financial results presented in accordance with GAAP. Computation of EBITDA and Adjusted EBITDA may differ
 
 
 
in certain respects from the methodology utilized by other REITs and, therefore, may not be comparable to such other REITs. Investors are cautioned that
 
 
 
items excluded from EBITDA and Adjusted EBITDA are significant components in understanding and addressing financial performance.
 
 
 
 
 
 
Excluded Properties
Includes 47 properties either distributed to certain investment funds affiliated with the Blackstone Group L.P. in connection with the IPO completed on
 
 
 
November 4, 2013 or sold.
 
 
 
 
 
 
Financial Liabilities
Represents certain fixed obligations including capital leases.
 
 
 
 
 
 
Funds From Operations (“FFO")
Is a supplemental non-GAAP financial measure utilized to evaluate the operating performance of real estate companies. The National Association of Real
 
 
 
Estate Investment Trusts (“NAREIT”) defines FFO as net income (loss) in accordance with GAAP excluding (i) gain (loss) on disposition of operating properties,
 
 
and (ii) extraordinary items, plus (iii) depreciation and amortization of operating properties, (iv) impairment of operating properties and real estate equity
 
 
 
investments, and (v) after adjustments for joint ventures calculated to reflect funds from operations on the same basis. FFO attributable to stockholders and
 
 
 
non-controlling interests convertible into common stock is FFO as further adjusted to exclude net income (loss) attributable to non-controlling interests not
 
 
 
convertible into common stock. The Company believes FFO attributable to stockholders and non-controlling interests convertible into common stock is a
 
 
 
meaningful supplemental measure that is more reflective of its operating performance by excluding FFO attributable to non-controlling interests not
 
 
 
convertible into common stock.
 
 
 
The Company presents FFO and FFO attributable to stockholders and non-controlling interests convertible into common stock as it considers them
 
 
 
important supplemental measures of its operating performance and the Company believes they are frequently used by securities analysts, investors and
 
 
 
other interested parties in the evaluation of REITs. FFO and FFO attributable to stockholders and non-controlling interests convertible into common stock
 
 
 
should not be considered as alternatives to net income (determined in accordance with GAAP) as indicators of financial performance and are not
 
 
 
alternatives to cash flow from operating activities (determined in accordance with GAAP) as measures of liquidity. Non-GAAP financial measures have
 
 
 
limitations as they do not include all items of income and expense that affect operations and, accordingly, should always be considered as supplemental
 
 
 
to financial results presented in accordance with GAAP. Computation of FFO and FFO attributable to stockholders and non-controlling interests
 
 
 
convertible into common stock may differ in certain respects from the methodology utilized by other REITs and, therefore, may not be comparable to
 
 
 
similarly titled measures presented by such other REITs. Investors are cautioned that items excluded from FFO and FFO attributable to stockholders and
 
 
 
non-controlling interests convertible into common stock are significant components in understanding and addressing financial performance.
 
 
 
 
 
 
Gross Leasable Area or "GLA"
Represents the total amount of property square footage that can generate income by being leased to tenants.
 
 
 
 
 
 
Ground Lease
A long-term lease of land in which the tenant erects improvements at its own expense. At the end of the lease term, the improvements become the
 
 
 
property of the landowner.
 
 
 
 
 
 
IPO Portfolio
Includes all properties owned as of the completion of the IPO on November 4, 2013. This portfolio includes the Acquired Properties and excludes the
 
 
 
Excluded Properties.
 
 
 
 
 
 
Leased GLA
Includes the aggregate GLA of all leases in effect on a given date, including those that are fully executed but as to which the tenant has not yet opened
 
 
 
for business and/or not yet commenced the payment of rent.
 
 
 
 
 

 
Supplemental Disclosure - Three Months Ended June 30, 2014
Page 1






 
LIBOR
Means London Interbank Offered Rate.
 
 
 
 
 
 
Metropolitan Statistical Area or "MSA"
Is defined by the United States Office of Management and Budget (“OMB”) as a region associated with at least one urbanized area that has a population
 
 
 
of at least 50,000 and comprises the central county or counties containing the core, plus adjacent outlying counties having a high degree of social and
 
 
 
economic integration with the central county or counties as measured through commuting.
 
 
 
 
 
 
Neighborhood Shopping Center
Means a shopping center that meets ICSC’s definition of neighborhood center. ICSC generally defines a neighborhood center as a shopping center with
 
 
 
offerings that are convenience-oriented. Neighborhood centers range from 30,000 to 125,000 sq. ft. in GLA and are generally anchored by a supermarket.
 
 
 
 
 
 
Net Effective Rent
Adjusts for any tenant incentive / allowance, landlord work, third party leasing commissions and rent concessions at 100% of costs, weighted by GLA over
 
 
 
the lease term.
 
 
 
 
 
 
Net Operating Income or "NOI"
Is calculated as total property revenues (minimum rent, percentage rents, and recoveries from tenants and other income) less direct property operating
 
 
 
expenses (operating and maintenance and real estate taxes) from the properties owned by Brixmor. NOI excludes corporate level income (including
 
 
 
management, transaction, and other fees).
 
 
 
NOI is a supplemental, non-GAAP measure utilized to evaluate the operating performance of real estate companies and is frequently used by securities
 
 
 
analysts, investors and other interested parties in understanding business and operating results regarding the underlying economics of Brixmor's business
 
 
 
operations. NOI is not intended to be a performance measure that should be regarded as an alternative to, or more meaningful than, net income
 
 
 
(determined in accordance with GAAP) or other GAAP financial measures. Non-GAAP financial measures have limitations as they do not include all items
 
 
 
of income and expense that affect operations, and accordingly, should always be considered as supplemental to financial results presented in
 
 
 
accordance with GAAP. Computation of NOI may differ in certain respects from the methodology utilized by other REITs and, therefore, may not be
 
 
 
comparable to such other REITs.
 
 
 
 
 
 
NOI Yield
Is calculated as projected NOI over incremental cost of a given anchor space repositioning / redevelopment project.
 
 
 
 
 
 
Non-controlling Interests
The non-controlling interests relate to portions of consolidated subsidiaries held by the non-controlling interest holders. The Company's material
 
 
 
subsidiaries include a corporation, BPG Subsidiary Inc. (“BPG Sub”), and the Brixmor Operating Partnership ("OP"). As of June 30, 2014, the Company
 
 
 
owns 83.04% of BPG Sub and is entitled to receive 83.04% of all net income and gains before depreciation. The remaining 16.96% is held by Blackstone
 
 
 
Retail Transaction II Holdco L.P. (“Holdco II”) an affiliate of BREP VI and management of the Company. As of June 30, 2014, BPG Sub owns 97.04% of
 
 
 
the OP. The remaining 2.96% is held by certain investment funds affiliated with the Blackstone Group L.P. and management of the Company. As of
 
 
 
June 30, 2014 the Company owns 80.58% of BPG Sub and the OP on a combined basis.
 
 
 
 
 
 
Non-owned Major Tenant
Also called shadow anchor. Includes tenants that are situated on parcels which are owned by unrelated third parties, but, due to their location within or
 
 
 
immediately adjacent to shopping center, to the consumer appear as another retail tenant of the shopping center and, as a result, attract additional
 
 
 
customer traffic to the center.
 
 
 
 
 
 
Percent Leased
Refers to the percentage of GLA that is leased, includes lease agreements that have been signed but not yet commenced.
 
 
 
 
 
 
Pro Forma
Reflects the impact of the following transactions associated with the IPO including (i) the contribution of the Acquired Properties (ii) the distribution of the
 
 
 
Excluded Properties (iii) the acquisition of the interest not already held in Arapahoe Crossings L.P. (iv) borrowings under the Unsecured Credit Facility,
 
 
 
including the use thereof and (v) the net proceeds from the IPO, including the use thereof. The pro forma adjustments associated with these transactions
 
 
 
assume that each transaction was completed as of December 31, 2013 for the purposes of the unaudited pro forma consolidated balance sheet and as
 
 
 
of January 1, 2014 and January 1, 2013, respectively, for the purposes of the unaudited pro forma consolidated statement of operations.
 
 
 
 
 
 
PSF
Means per square foot ("sq. ft.") of GLA.
 
 
 
 
 
 
Redevelopment Properties
Larger scale projects that typically involve substantial demolition of a portion of the shopping center to accommodate new retailers. These projects
 
 
 
typically are accompanied with new construction and site infrastructure costs.
 
 
 
 
 
 
Renewal Leases
Includes expiring leases renewed with the same tenant or the exercise of options by tenants to extend the term of expiring leases. All other leases are
 
 
 
categorized as new.
 
 
 
 
 
 
Rent Growth
Is calculated as ABR in the final year of the lease compared to ABR in the first year of the new lease. New lease spreads include only those spaces that
 
 
 
were occupied within the prior 12 months. Renewal and option lease spreads include leases rolling over with the same tenant in the same location. Data
 
 
 
includes all leases in effect, including those that are fully executed, but not yet open.
 
 
 
 
 
 
Same Property Net Operating Income
Is calculated (using properties owned as of the end of both reporting periods and for the entirety of both periods excluding properties classified as
 
 
or Same Property NOI
discontinued operations), as rental income (minimum rent, percentage rents, tenant recoveries and other property income) less rental operating expenses
 
 
 
(property operating expenses, real estate taxes and bad debt expense) of the properties owned by Brixmor. Same property NOI excludes corporate level
 
 
 
income (including transaction and other fees), lease termination income, straight-line rent and amortization of above- and below-market leases of the
 
 
 
same property pool from the prior year reporting period to the current year reporting period.
 
 
 
Same property NOI is a supplemental, non-GAAP financial measure utilized to evaluate the operating performance of real estate companies and is
 
 
 
frequently used by securities analysts, investors and other interested parties in understanding business and operating results regarding the underlying
 
 
 
economics of Brixmor's business operations. It includes only the net operating income of properties owned for the full period presented, which eliminates
 
 
 
disparities in net income due to the acquisition or disposition of properties during the period presented, and therefore, provides a more consistent metric
 
 
 
for comparing the performance of properties. Management uses same property NOI to review operating results for comparative purposes with respect to
 
 
 
previous periods or forecasts, and also to evaluate future prospects. Same property NOI is not intended to be a performance measure that should be
 
 
 
regarded as an alternative to, or more meaningful than, net income (determined in accordance with GAAP) or other GAAP financial measures. Non-
 
 
 
GAAP financial measures have limitations as they do not include all items of income and expense that affect operations, and accordingly, should always
 
 
 
be considered as supplemental to financial results presented in accordance with GAAP. Computation of same property NOI may differ in certain respects
 
 
 
from the methodology utilized by other REITs and, therefore, may not be comparable to such other REITs.
 
 
 
 
 
 
Small Shop Spaces
Means space of less than 10,000 sq. ft. of GLA.
 
 
 
 
 
 
Straight-line Rent
GAAP requirement to average the tenant's rent payments over the life of the lease, regardless of actual cash collected in the period.
 
 
 
 
 
 
Year Built
Year of most recent anchor space repositioning / redevelopment or year built if no redevelopment has occurred.
 
 
 
 
 
 
 
 
 
 
 
 
 

                                                                                                                                                                                                   

 
Supplemental Disclosure - Three Months Ended June 30, 2014
Page 2




RESULTS OVERVIEW
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unaudited, dollars in thousands except per share and per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pro Forma
 
 
Actual Results
 
 
 
 
 
 
Three Months Ended
 
Six Months Ended
 
 
Three Months
 
Six Months
 
 
Summary Financial Results
 
6/30/14
 
6/30/13
 
6/30/14
 
6/30/13
 
 
Ended 6/30/14
 
Ended 6/30/14
 
 
 
Total revenues (page 6)
 
 $ 308,077
 
 $ 298,605

 
 $ 615,773
 
 $ 596,526

 
 
 $ 308,077
 
 $ 615,773
 
 
 
Net income (loss) attributable to common stockholders (page 6)
 
               23,473
 
                 4,882

 
                38,901
 
                  5,491

 
 
               23,473
 
               38,874
 
 
 
Net income (loss) attributable to common stockholders - per diluted share (page 6)
                     0.10
 
                    0.02

 
                     0.17
 
                    0.02

 
 
                     0.10
 
                     0.17
 
 
 
Adjusted EBITDA (page 8)
 
             208,451
 
             201,940

 
             412,984
 
             397,910

 
 
             208,451
 
             412,990
 
 
 
FFO (page 9)
 
             140,392
 
             126,233

 
            273,394
 
            249,944

 
 
             140,392
 
            278,626
 
 
 
FFO attributable to stockholders and non-controlling interests convertible into
 
             140,070
 
              125,891

 
            272,748
 
            249,273

 
 
             140,070
 
            272,748
 
 
 
 
common stock (page 9)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FFO per share/OP Unit - diluted (page 9)
 
                    0.46
 
                     0.41

 
                    0.90
 
                    0.82

 
 
                    0.46
 
                    0.90
 
 
 
Dividends declared per share/OP Unit (page 9)
 
                    0.20
 
—

 
                    0.40
 
—

 
 
                    0.20
 
                    0.40
 
 
 
Share/OP Unit dividend payout ratio (as % of FFO) (page 9)
 
43.4%
 
—

 
44.6%
 
—

 
 
43.4%
 
44.6%
 
 
 
NOI (page 11)
 
            228,679
 
              221,810

 
            453,767
 
            439,794

 
 
            228,679
 
            453,767
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
 
 
 
 
 
 
 
 
 
 
Summary Operating and Financial Ratios
 
6/30/14
 
3/31/14
 
 
 
 
 
 
 
 
 
 
 
 
NOI margin (page 11)
 
74.4%
 
73.2%

 
 
 
 
 
 
 
 
 
 
 
 
Same property NOI (page 12) (1)
 
3.8%
 
3.8%

 
 
 
 
 
 
 
 
 
 
 
 
Fixed charge coverage (page 14)
 
2.8x
 
 2.7x

 
 
 
 
 
 
 
 
 
 
 
 
Net principal debt to adjusted EBITDA (GAAP) (page 14)
 
7.0x
 
7.2x

 
 
 
 
 
 
 
 
 
 
 
 
Net principal debt to adjusted EBITDA (cash) (page 14)
 
7.6x
 
7.8x

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding Classes of Stock and Partnership Units
 
At 6/30/14
 
At 3/31/14
 
 
 
 
 
 
 
 
 
 
 
 
Common shares outstanding (page 14)
 
            245,086
 
            229,680

 
 
 
 
 
 
 
 
 
 
 
 
Exchangeable BPG Sub shares held by non-controlling interests (page 14)
 
                50,182
 
58,663

 
 
 
 
 
 
 
 
 
 
 
 
Exchangeable OP Units held by non-controlling interests (page 14)
 
                 8,953
 
                15,878

 
 
 
 
 
 
 
 
 
 
 
 
Total
 
             304,221
 
             304,221

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Summary IPO Portfolio Statistics
 
At 6/30/14
 
At 3/31/14
 
At 12/31/13
 
 
 
 
 
 
 
 
 
 
Number of properties (page 25)
 
522
 
522

 
522
 
 
 
 
 
 
 
 
 
 
GLA (page 25)
 
86,764,493
 
86,718,016

 
86,806,352
 
 
 
 
 
 
 
 
 
 
Percent leased (page 25)
 
92.5%
 
92.3%

 
92.4%
 
 
 
 
 
 
 
 
 
 
Percent billed (page 25)
 
90.5%
 
90.5%

 
90.7%
 
 
 
 
 
 
 
 
 
 
ABR / SF (page 25)
 
 $ 12.04
 
 $ 12.01

 
 $ 11.93
 
 
 
 
 
 
 
 
 
 
Total rent spread (page 27)
 
11.2%
 
11.3%

 
11.0%
 
 
 
 
 
 
 
 
 
 
New lease rent spread (page 27)
 
27.3%
 
21.0%

 
24.8%
 
 
 
 
 
 
 
 
 
 
Renewal lease rent spread (page 27)
 
8.2%
 
9.5%

 
8.5%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Excludes Acquired Properties and Excluded Properties. Includes joint venture, Montecito Marketplace at pro rata share.
 
 
 
 
 
 
 
 
 
 






 
Supplemental Disclosure - Three Months Ended June 30, 2014
Page 3






 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FINANCIAL SUMMARY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended June 30, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





CONSOLIDATED BALANCE SHEETS
 
 
 
 
 
 
Unaudited, dollars in thousands, except share information
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Actual Results
 
Pro Forma
 
 
 
 
 
 
6/30/14
 
12/31/13
 
12/31/13
 
 
Assets
 
 
 
 
 
 
 
 
Real estate
 
 
 
 
 
 
 
 
 
Land
$
1,998,895

 
$
2,055,802

 
$
1,989,160

 
 
 
 
Buildings and improvements
8,713,114

 
8,781,926

 
8,654,899

 
 
 
 
 
 
10,712,009

 
10,837,728

 
10,644,059

 
 
 
 
Accumulated depreciation and amortization
(1,360,647
)
 
(1,190,170
)
 
(1,160,478
)
 
 
 
Real estate, net
9,351,362

 
9,647,558

 
9,483,581

 
 
 
Investments in and advances to unconsolidated joint ventures
5,104

 
9,205

 
5,171

 
 
 
Cash and cash equivalents
61,830

 
113,915

 
95,332

 
 
 
Restricted cash
64,927

 
75,457

 
74,847

 
 
 
Marketable securities
21,647

 
22,104

 
22,104

 
 
 
Receivables, net
171,131

 
178,505

 
175,584

 
 
 
Deferred charges and prepaid expenses, net
111,064

 
105,522

 
103,237

 
 
 
Other assets
13,138

 
19,650

 
14,043

 
 
Total assets
$
9,800,203

 
$
10,171,916

 
$
9,973,899

 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
Debt obligations, net
$
5,947,168

 
$
5,981,289

 
$
5,965,307

 
 
 
Financing liabilities, net
121,470

 
175,111

 
175,111

 
 
 
Accounts payable, accrued expenses and other liabilities
667,679

 
709,529

 
701,495

 
 
Total liabilities
6,736,317

 
6,865,929

 
6,841,913

 
 
 
 
 
 
 
 
 
 
 
 
 
Redeemable non-controlling interests
21,467

 
21,467

 
21,467

 
 
Commitments and contingencies
—

 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
Equity
 
 
 
 
 
 
 
 
Common stock, $0.01 par value; authorized 3,000,000,000 shares;
 
 
 
 
 
 
 
 
 
245,095,327 and 229,689,960 shares outstanding
2,451

 
2,297

 
2,297

 
 
 
Additional paid in capital
2,709,311

 
2,543,690

 
2,543,690

 
 
 
Accumulated other comprehensive loss
(8,365
)
 
(6,812
)
 
(6,812
)
 
 
 
Distributions and accumulated losses
(252,967
)
 
(196,707
)
 
(196,707
)
 
 
Total stockholders' equity
2,450,430

 
2,342,468

 
2,342,468

 
 
 
Non-controlling interests
591,989

 
942,052

 
768,051

 
 
Total equity
3,042,419

 
3,284,520

 
3,110,519

 
 
Total liabilities and equity
$
9,800,203

 
$
10,171,916

 
$
9,973,899

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


 
Supplemental Disclosure - Three Months Ended June 30, 2014
Page 5






CONSOLIDATED STATEMENTS OF OPERATIONS
 
 
 
 
 
 
 
Unaudited, dollars in thousands, except per share amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pro Forma
 
 
Actual Results
 
 
 
 
 
 
Three Months Ended
 
Six Months Ended
 
 
Three Months Ended
 
Six Months Ended
 
 
 
 
 
 
6/30/14
 
6/30/13
 
6/30/14
 
6/30/13
 
 
6/30/14
 
6/30/13
 
6/30/14
 
6/30/13
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Rental income
$
240,076

 
$
232,662

 
$
477,336

 
$
463,724

 
 
$
240,076

 
$
216,296

 
$
477,336

 
$
430,854

 
 
 
Expense reimbursements
65,694

 
63,295

 
134,317

 
126,969

 
 
65,694

 
59,311

 
134,317

 
118,915

 
 
 
Other revenues
2,307

 
2,648

 
4,120

 
5,833

 
 
2,307

 
2,613

 
4,120

 
5,760

 
 
Total revenues
308,077

 
298,605

 
615,773

 
596,526

 
 
308,077

 
278,220

 
615,773

 
555,529

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating expenses
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating costs
31,902

 
29,895

 
66,790

 
62,099

 
 
31,902

 
27,659

 
66,790

 
57,506

 
 
 
Real estate taxes
43,835

 
43,369

 
88,281

 
87,433

 
 
43,835

 
40,995

 
88,281

 
82,696

 
 
 
Depreciation and amortization
109,666

 
119,901

 
222,934

 
242,956

 
 
109,666

 
108,622

 
222,934

 
220,399

 
 
 
Provision for doubtful accounts
2,988

 
2,682

 
5,865

 
5,160

 
 
2,988

 
2,573

 
5,865

 
4,885

 
 
 
Impairment of real estate assets
—

 
1,531

 
—

 
1,531

 
 
—

 
1,531

 
—

 
1,531

 
 
 
General and administrative
19,939

 
18,935

 
39,597

 
42,330

 
 
19,939

 
18,724

 
39,597

 
41,781

 
 
Total operating expenses
208,330

 
216,313

 
423,467

 
441,509

 
 
208,330

 
200,104

 
423,467

 
408,798

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other income (expense)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dividends and interest
159

 
243

 
267

 
426

 
 
159

 
239

 
267

 
420

 
 
 
Interest expense
(65,953
)
 
(72,029
)
 
(133,919
)
 
(144,938
)
 
 
(65,953
)
 
(94,373
)
 
(133,919
)
 
(186,244
)
 
 
 
Gain (loss) on sale of real estate assets
—

 
722

 
378

 
561

 
 
—

 
722

 
378

 
722

 
 
 
Gain (loss) on extinguishment of debt, net
(757
)
 
(1,668
)
 
(3,033
)
 
482

 
 
(757
)
 
(1,668
)
 
(3,033
)
 
482

 
 
 
Other
(1,969
)
 
(3,047
)
 
(4,130
)
 
(4,008
)
 
 
(1,969
)
 
(3,710
)
 
(4,130
)
 
(4,671
)
 
 
Total other income (expense)
(68,520
)
 
(75,779
)
 
(140,437
)
 
(147,477
)
 
 
(68,520
)
 
(98,790
)
 
(140,437
)
 
(189,291
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) before equity in income of unconsolidated
    joint ventures
31,227

 
6,513

 
51,869

 
7,540

 
 
31,227

 
(20,674
)
 
51,869

 
(42,560
)
 
 
Equity in income of unconsolidated joint ventures
71

 
295

 
204

 
404

 
 
71

 
507

 
136

 
754

 
 
Gain on disposal of investments in unconsolidated
    joint ventures
—

 
—

 
—

 
—

 
 
—

 
—

 
1,820

 
—

 
 
Income (loss) from continuing operations
31,298

 
6,808

 
52,073

 
7,944

 
 
31,298

 
(20,167
)
 
53,825

 
(41,806
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Discontinued operations
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from discontinued operations
—

 
—

 
—

 
—

 
 
—

 
(302
)
 
4,787

 
(1,077
)
 
 
 
Gain on disposition of operating properties
—

 
—

 
—

 
—

 
 
—

 
2,631

 
14,426

 
2,631

 
 
 
Impairment of real estate held for sale
—

 
—

 
—

 
—

 
 
—

 
(39,007
)
 
—

 
(42,039
)
 
 
Income (loss) from discontinued operations
—

 
—

 
—

 
—

 
 
—

 
(36,678
)
 
19,213

 
(40,485
)
 
 
Net income (loss)
31,298

 
6,808

 
52,073

 
7,944

 
 
31,298

 
(56,845
)
 
73,038

 
(82,291
)
 
 
Non-controlling interests
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net (income) loss attributable to non-controlling interests
(7,825
)
 
(1,926
)
 
(13,172
)
 
(2,453
)
 
 
(7,825
)
 
13,583

 
(34,164
)
 
19,531

 
 
Net income (loss) attributable to common stockholders
$
23,473

 
$
4,882

 
$
38,901

 
$
5,491

 
 
$
23,473

 
$
(43,262
)
 
$
38,874

 
$
(62,760
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Per common share:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic
$
0.10

 
$
0.02

 
$
0.17

 
$
0.02

 
 
$
0.10

 
$
(0.09
)
 
$
0.17

 
$
(0.18
)
 
 
 
 
Diluted
$
0.10

 
$
0.02

 
$
0.17

 
$
0.02

 
 
$
0.10

 
$
(0.09
)
 
$
0.17

 
$
(0.18
)
 
 
 
Net income (loss) attributable to common stockholders:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic
$
0.10

 
$
0.02

 
$
0.17

 
$
0.02

 
 
$
0.10

 
$
(0.24
)
 
$
0.17

 
$
(0.35
)
 
 
 
 
Diluted
$
0.10

 
$
0.02

 
$
0.17

 
$
0.02

 
 
$
0.10

 
$
(0.24
)
 
$
0.17

 
$
(0.35
)
 
 
 
Weighted average number of vested common shares:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic
228,978

 
228,113

 
228,547

 
228,113

 
 
228,978

 
180,675

 
228,547

 
180,675

 
 
 
 
Diluted
230,469

 
230,194

 
229,907

 
230,194

 
 
230,469

 
180,675

 
229,907

 
180,675

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


 
Supplemental Disclosure - Three Months Ended June 30, 2014
Page 6






CONSOLIDATED STATEMENTS OF CASH FLOWS
 
 
 
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Actual Results
 
 
 
 
 
 
Six Months Ended
 
 
 
 
 
 
6/30/14
 
6/30/13
 
 
 
 
 
 
 
 
 
 
 
Operating activities:
 
 
 
 
 
Net income (loss)
$
73,038

 
$
(82,291
)
 
 
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
 
 
 
 
 
 
Depreciation and amortization
223,364

 
227,406

 
 
 
Debt premium and discount amortization
(10,547
)
 
(12,378
)
 
 
 
Deferred financing cost amortization
4,656

 
6,135

 
 
 
Above- and below-market lease intangible amortization
(23,181
)
 
(24,659
)
 
 
 
Provisions of impairment
—

 
43,570

 
 
 
Gain on disposition of operating properties and investments in unconsolidated joint ventures
(16,624
)
 
(3,353
)
 
 
 
Equity based compensation
5,123

 
1,605

 
 
 
Other
 
(113
)
 
(753
)
 
 
 
(Gain) loss on extinguishment of debt, net
(3,783
)
 
482

 
 
Changes in operating assets and liabilities:
 
 
 
 
 
 
Restricted cash
6,168

 
(10,897
)
 
 
 
Receivables
6,064

 
(25,229
)
 
 
 
Deferred charges and prepaid expenses
(16,867
)
 
(15,069
)
 
 
 
Other assets
330

 
499

 
 
 
Accounts payable, accrued expenses and other liabilities
(28,988
)
 
4,677

 
 
Net cash provided by operating activities
218,640

 
109,745

 
 
 
 
 
 
 
 
 
 
 
Investing activities:
 
 
 
 
 
 
Improvements to and investments in real estate assets
(88,794
)
 
(66,086
)
 
 
 
Proceeds from sales of real estate assets
2,778

 
31,361

 
 
 
Distributions from unconsolidated joint ventures
187

 
347

 
 
 
Contributions to unconsolidated joint ventures
—

 
(1
)
 
 
 
Change in restricted cash attributable to investing activities
3,473

 
(2,963
)
 
 
 
Purchase of marketable securities
(19,604
)
 
(8,185
)
 
 
 
Proceeds from sale of marketable securities
20,085

 
9,465

 
 
Net cash used in investing activities
(81,875
)
 
(36,062
)
 
 
 
 
 
 
 
 
 
 
 
Financing activities:
 
 
 
 
 
 
Repayment of debt obligations and financing liabilities
(815,089
)
 
(64,671
)
 
 
 
Proceeds from debt obligations
—

 
57,000

 
 
 
Repayment of borrowings under unsecured revolving credit facility
(655,047
)
 
—

 
 
 
Proceeds from borrowings under unsecured credit facility
802,343

 
—

 
 
 
Proceeds from unsecured term loan
600,000

 
—

 
 
 
Deferred financing costs
(2,995
)
 
(1,428
)
 
 
 
Distributions to common stockholders
(75,109
)
 
(18,913
)
 
 
 
Distributions to non-controlling interests and other
(42,953
)
 
(6,763
)
 
 
Net cash used in financing activities
(188,850
)
 
(34,775
)
 
 
Change in cash and cash equivalents
(52,085
)
 
38,908

 
 
Cash and cash equivalents at beginning of period
113,915

 
103,098

 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents at end of period
$
61,830

 
$
142,006

 
 
 
 
 
 
 
 
 
 
 
Supplemental non-cash investing and/or financing activities:
 
 
 
 
 
 
Net carrying value of properties distributed to non-controlling owners
$
178,969

 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


 
Supplemental Disclosure - Three Months Ended June 30, 2014
Page 7






RECONCILIATION OF NET INCOME (LOSS) TO EBITDA
 
 
 
 
 
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pro Forma
 
 
Actual Results
 
 
 
 
 
 
Three Months Ended
 
Six Months Ended
 
 
Three Months Ended
 
Six Months Ended
 
 
 
 
 
 
6/30/14
 
6/30/13
 
6/30/14
 
6/30/13
 
 
6/30/14
 
6/30/13
 
6/30/14
 
6/30/13
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
$
31,298

 
$
6,808

 
$
52,073

 
$
7,944

 
 
$
31,298

 
$
(56,845
)
 
$
73,038

 
$
(82,291
)
 
 
 
Interest expense - continuing operations
65,953

 
72,029

 
133,919

 
144,938

 
 
65,953

 
94,373

 
133,919

 
186,244

 
 
 
Interest expense - discontinued operations
—

 
—

 
—

 
—

 
 
—

 
2,247

 
259

 
4,497

 
 
 
Interest expense - unconsolidated joint ventures
44

 
45

 
84

 
89

 
 
44

 
225

 
86

 
450

 
 
 
Federal and state taxes
1,034

 
998

 
1,924

 
2,114

 
 
1,034

 
941

 
1,924

 
1,896

 
 
 
Depreciation and amortization - continuing
    operations
109,666

 
119,901

 
222,934

 
242,956

 
 
109,666

 
108,622

 
222,934

 
220,399

 
 
 
Depreciation and amortization - discontinued
    operations
—

 
—

 
—

 
—

 
 
—

 
3,135

 
431

 
6,984

 
 
 
Depreciation and amortization - unconsolidated
    joint ventures
21

 
24

 
41

 
52

 
 
21

 
80

 
123

 
160

 
 
EBITDA
208,016

 
199,805

 
410,975

 
398,093

 
 
208,016

 
152,778

 
432,714

 
338,339

 
 
 
Straight-line rent
(4,856
)
 
(4,564
)
 
(9,764
)
 
(8,752
)
 
 
(4,856
)
 
(3,539
)
 
(9,713
)
 
(6,776
)
 
 
 
Above- and below-market rent amortization
(11,601
)
 
(12,234
)
 
(23,170
)
 
(24,423
)
 
 
(11,601
)
 
(12,382
)
 
(23,181
)
 
(24,659
)
 
 
 
Total adjustments
(16,457
)
 
(16,798
)
 
(32,934
)
 
(33,175
)
 
 
(16,457
)
 
(15,921
)
 
(32,894
)
 
(31,435
)
 
 
Cash EBITDA
$
191,559

 
$
183,007

 
$
378,041

 
$
364,918

 
 
$
191,559

 
$
136,857

 
$
399,820

 
$
306,904

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
EBITDA
$
208,016

 
$
199,805

 
$
410,975

 
$
398,093

 
 
$
208,016

 
$
152,778

 
$
432,714

 
$
338,339

 
 
 
Gain on disposition of operating properties
—

 
—

 
(378
)
 
—

 
 
—

 
(2,631
)
 
(14,804
)
 
(2,631
)
 
 
 
Gain from developtment/land sales and acquistion
    of joint venture interests
—

 
(722
)
 
—

 
(561
)
 
 
—

 
(722
)
 
—

 
(722
)
 
 
 
Gain on disposition of unconsolidated joint ventures
—

 
—

 
—

 
—

 
 
—

 
—

 
(1,820
)
 
—

 
 
 
Loss (gain) on extinguishment of debt, net
757

 
1,668

 
3,033

 
(482
)
 
 
757

 
1,668

 
(3,041
)
 
(482
)
 
 
 
Impairment of operating properties and land sales
—

 
1,531

 
—

 
1,531

 
 
—

 
1,531

 
—

 
1,531

 
 
 
Impairment of real estate held for sale
—

 
—

 
—

 
—

 
 
—

 
39,007

 
—

 
42,039

 
 
 
Adjustments to non-controlling interests not
    convertible into common stock
(322
)
 
(342
)
 
(646
)
 
(671
)
 
 
(322
)
 
(342
)
 
(59
)
 
(671
)
 
 
 
Total adjustments
435

 
2,135

 
2,009

 
(183
)
 
 
435

 
38,511

 
(19,724
)
 
39,064

 
 
Adjusted EBITDA
208,451

 
201,940

 
412,984

 
397,910

 
 
208,451

 
191,289

 
412,990

 
377,403

 
 
 
Straight-line rent
(4,856
)
 
(4,564
)
 
(9,764
)
 
(8,752
)
 
 
(4,856
)
 
(3,539
)
 
(9,713
)
 
(6,776
)
 
 
 
Above- and below-market rent amortization
(11,601
)
 
(12,234
)
 
(23,170
)
 
(24,423
)
 
 
(11,601
)
 
(12,382
)
 
(23,181
)
 
(24,659
)
 
 
 
Adjustments to non-controlling interests not
    convertible into common stock
—

 
—

 
—

 
—

 
 
—

 
—

 
(46
)
 
—

 
 
 
Total adjustments
(16,457
)
 
(16,798
)
 
(32,934
)
 
(33,175
)
 
 
(16,457
)
 
(15,921
)
 
(32,940
)
 
(31,435
)
 
 
Cash adjusted EBITDA
$
191,994

 
$
185,142

 
$
380,050

 
$
364,735

 
 
$
191,994

 
$
175,368

 
$
380,050

 
$
345,968

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




 
Supplemental Disclosure - Three Months Ended June 30, 2014
Page 8






RECONCILIATION OF NET INCOME (LOSS) TO FFO
 
 
 
 
 
Unaudited, dollars in thousands, except per share amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pro Forma
 
 
Actual Results
 
 
 
 
 
 
Three Months Ended
 
Six Months Ended
 
 
Three Months Ended
 
Six Months Ended
 
 
 
 
 
 
6/30/14
 
6/30/13
 
6/30/14
 
6/30/13
 
 
6/30/14
 
6/30/13
 
6/30/14
 
6/30/13
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
$
31,298

 
$
6,808

 
$
52,073

 
$
7,944

 
 
$
31,298

 
$
(56,845
)
 
$
73,038

 
$
(82,291
)
 
 
 
Gain on disposition of operating properties
—

 
—

 
(378
)
 
—

 
 
—

 
(2,631
)
 
(14,804
)
 
(2,631
)
 
 
 
Gain on disposition of unconsolidated joint ventures
—

 
—

 
—

 
—

 
 
—

 
—

 
(1,820
)
 
—

 
 
 
Depreciation and amortization- real estate
    related- continuing operations
109,073

 
119,401

 
221,658

 
241,948

 
 
109,073

 
108,122

 
221,658

 
219,391

 
 
 
Depreciation and amortization- real estate
    related- discontinued operations
—

 
—

 
—

 
—

 
 
—

 
3,135

 
431

 
6,984

 
 
 
Depreciation and amortization- real estate
    related- unconsolidated joint ventures
21

 
24

 
41

 
52

 
 
21

 
80

 
123

 
160

 
 
 
Impairment of operating properties
—

 
—

 
—

 
—

 
 
—

 
37,467

 
—

 
40,500

 
 
FFO
 
 
140,392

 
126,233

 
273,394

 
249,944

 
 
140,392

 
89,328

 
278,626

 
182,113

 
 
 
Adjustments attributable to non-controlling interests
    not convertible into common stock
(322
)
 
(342
)
 
(646
)
 
(671
)
 
 
(322
)
 
(342
)
 
(5,878
)
 
(671
)
 
 
FFO attributable to stockholders and non-controlling
    interests convertible into common stock
$
140,070

 
$
125,891

 
$
272,748

 
$
249,273

 
 
$
140,070

 
$
88,986

 
$
272,748

 
$
181,442

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FFO per share/OP Unit - diluted
$
0.46

 
$
0.41

 
$
0.90

 
$
0.82

 
 
$
0.46

 
$
0.37

 
$
0.90

 
$
0.75

 
 
Weighted average shares/OP Units outstanding -
    basic and diluted (1)
304,390

 
304,231

 
304,253

 
304,231

 
 
304,390

 
240,905

 
304,253

 
240,905

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Items that impact FFO comparability
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gain (loss) on extinguishment of debt, net
$
(757
)
 
$
(1,668
)
 
$
(3,033
)
 
$
482

 
 
$
(757
)
 
$
(1,668
)
 
$
3,041

 
$
482

 
 
 
Gain (loss) on extinguishment of debt per share
$
—

 
$
(0.01
)
 
$
(0.01
)
 
$
—

 
 
$
—

 
$
(0.01
)
 
$
0.01

 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dividends declared per share/OP Unit
$
0.20

 
 
 
$
0.40

 
 
 
 
$
0.20

 
 
 
$
0.40

 
 
 
 
Shares/OP Unit dividends declared
$
60,846

 
 
 
$
121,692

 
 
 
 
$
60,846

 
 
 
$
121,692

 
 
 
 
Share/OP Unit dividend payout ratio (as % of FFO)
43.4
%
 
 
 
44.6
%
 
 
 
 
43.4
%
 
 
 
44.6
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   
 
 
 
   
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Basic and diluted shares/OP Units outstanding reflects an assumed conversion of certain BPG Sub shares and OP Units to common stock of the Company and the vesting of certain restricted stock
 
awards.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




 
Supplemental Disclosure - Three Months Ended June 30, 2014
Page 9






SUPPLEMENTAL BALANCE SHEET DETAIL
 
 
 
 
 
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Actual Results
 
Pro Forma
 
 
 
 
 
 
6/30/14
 
12/31/13
 
12/31/13
 
 
 
 
 
 
 
 
 
 
 
 
 
Real estate, net
 
 
 
 
 
 
 
 
Land
$
1,998,895

 
$
2,055,802

 
$
1,989,160

 
 
 
Buildings and improvements
 
 
 
 
 
 
 
 
 
Building
7,327,482

 
7,436,072

 
7,321,799

 
 
 
 
Building and tenant improvements
423,164

 
346,521

 
357,814

 
 
 
 
Construction in process (anchor space repositioning and redevelopment only)
28,508

 
27,386

 
27,386

 
 
 
 
Lease intangibles
933,960

 
971,947

 
947,900

 
 
 
 
 
 
10,712,009

 
10,837,728

 
10,644,059

 
 
 
Accumulated depreciation and amortization
(1,360,647
)
 
(1,190,170
)
 
(1,160,478
)
 
 
 
 
Total real estate, net
$
9,351,362

 
$
9,647,558

 
$
9,483,581

 
 
 
 
 
 
 
 
 
 
 
 
 
Receivables, net
 
 
 
 
 
 
 
 
Straight-line rent receivable
$
56,627

 
$
47,669

 
$
46,855

 
 
 
Tenant receivables
128,138

 
145,247

 
141,779

 
 
 
Allowance for doubtful accounts
(27,020
)
 
(30,190
)
 
(28,741
)
 
 
 
Other
13,386

 
15,779

 
15,691

 
 
 
Total receivables, net
$
171,131

 
$
178,505

 
$
175,584

 
 
 
 
 
 
 
 
 
 
 
 
 
Deferred charges and prepaid expenses, net
 
 
 
 
 
 
 
 
Deferred charges, net
$
80,580

 
$
73,791

 
$
72,538

 
 
 
Prepaid expenses, net
30,484

 
31,731

 
30,699

 
 
 
Total deferred charges and prepaid expenses, net
$
111,064

 
$
105,522

 
$
103,237

 
 
 
 
 
 
 
 
 
 
 
 
 
Other assets
 
 
 
 
 
 
 
 
Furniture, fixtures and leasehold improvements, net
$
10,605

 
$
10,591

 
$
10,591

 
 
 
Real estate assets held for sale
—

 
5,531

 
—

 
 
 
Other
2,533

 
3,528

 
3,452

 
 
 
Total other assets
$
13,138

 
$
19,650

 
$
14,043

 
 
 
 
 
 
 
 
 
 
 
 
 
Accounts payable, accrued expenses and other liabilities
 
 
 
 
 
 
 
 
Accounts payable and accrued expenses
$
201,073

 
$
230,967

 
$
226,848

 
 
 
Dividends payable
61,032

 
38,637

 
38,637

 
 
 
Below market leases, net
354,903

 
388,176

 
385,097

 
 
 
Other
50,671

 
51,749

 
50,913

 
 
 
Total accounts payable, accrued expenses and other liabilities
$
667,679

 
$
709,529

 
$
701,495

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




 
Supplemental Disclosure - Three Months Ended June 30, 2014
Page 10






NOI DETAIL, SUPPLEMENTAL STATEMENTS OF OPERATIONS DETAIL, OPERATING RATIOS & ADDITIONAL DISCLOSURES
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pro Forma
 
 
Actual Results
 
 
 
 
 
 
Three Months Ended
 
Six Months Ended
 
 
Three Months Ended
 
Six Months Ended
 
 
 
 
 
 
6/30/14
 
6/30/13
 
6/30/14
 
6/30/13
 
 
6/30/14
 
6/30/13
 
6/30/14
 
6/30/13
 
 
Net Operating Income Detail
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Rental income
$
240,076

 
$
232,662

 
$
477,336

 
$
463,724

 
 
$
240,076

 
$
216,296

 
$
477,336

 
$
430,854

 
 
 
Expense reimbursements
65,694

 
63,295

 
134,317

 
126,969

 
 
65,694

 
59,311

 
134,317

 
118,915

 
 
 
Percentage rents
1,634

 
1,799

 
3,050

 
3,793

 
 
1,634

 
1,746

 
3,050

 
3,684

 
 
 
Operating costs
(31,902
)
 
(29,895
)
 
(66,790
)
 
(62,099
)
 
 
(31,902
)
 
(27,659
)
 
(66,790
)
 
(57,506
)
 
 
 
Real estate taxes
(43,835
)
 
(43,369
)
 
(88,281
)
 
(87,433
)
 
 
(43,835
)
 
(40,995
)
 
(88,281
)
 
(82,696
)
 
 
 
Provision for doubtful accounts
(2,988
)
 
(2,682
)
 
(5,865
)
 
(5,160
)
 
 
(2,988
)
 
(2,573
)
 
(5,865
)
 
(4,885
)
 
 
Net operating income
228,679

 
221,810

 
453,767

 
439,794

 
 
228,679

 
206,126

 
453,767

 
408,366

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Reconciliation of net operating income to net income (loss) attributable to common stockholders
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fee income
673

 
849

 
1,070

 
2,040

 
 
673

 
867

 
1,070

 
2,076

 
 
 
Depreciation and amortization
(109,666
)
 
(119,901
)
 
(222,934
)
 
(242,956
)
 
 
(109,666
)
 
(108,622
)
 
(222,934
)
 
(220,399
)
 
 
 
Impairment of real estate assets
—

 
(1,531
)
 
—

 
(1,531
)
 
 
—

 
(1,531
)
 
—

 
(1,531
)
 
 
 
General and administrative
(19,939
)
 
(18,935
)
 
(39,597
)
 
(42,330
)
 
 
(19,939
)
 
(18,724
)
 
(39,597
)
 
(41,781
)
 
 
 
Total other income (expense)
(68,520
)
 
(75,779
)
 
(140,437
)
 
(147,477
)
 
 
(68,520
)
 
(98,790
)
 
(140,437
)
 
(189,291
)
 
 
 
Equity in income of unconsolidated joint ventures
71

 
295

 
204

 
404

 
 
71

 
507

 
136

 
754

 
 
 
Gain on disposal of investments in unconsolidated
    joint ventures
—

 
—

 
—

 
—

 
 
—

 
—

 
1,820

 
—

 
 
 
Income (loss) from discontinued operations
—

 
—

 
—

 
—

 
 
—

 
(36,678
)
 
19,213

 
(40,485
)
 
 
 
Net (income) loss attributable to non-controlling interests
(7,825
)
 
(1,926
)
 
(13,172
)
 
(2,453
)
 
 
(7,825
)
 
13,583

 
(34,164
)
 
19,531

 
 
Net income (loss) attributable to common stockholders
$
23,473

 
$
4,882

 
$
38,901

 
$
5,491

 
 
$
23,473

 
$
(43,262
)
 
$
38,874

 
$
(62,760
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Statement of Operations Detail
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other revenues
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percentage rents
$
1,634

 
$
1,799

 
$
3,050

 
$
3,793

 
 
$
1,634

 
$
1,746

 
$
3,050

 
$
3,684

 
 
 
Fee income
673

 
849

 
1,070

 
2,040

 
 
673

 
867

 
1,070

 
2,076

 
 
 
Total other revenues
$
2,307

 
$
2,648

 
$
4,120

 
$
5,833

 
 
$
2,307

 
$
2,613

 
$
4,120

 
$
5,760

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage and note interest
$
55,817

 
$
66,360

 
$
114,750

 
$
131,244

 
 
$
55,817

 
$
97,245

 
$
114,750

 
$
192,261

 
 
 
Unsecured credit facility and term loan interest
13,082

 
8,486

 
25,154

 
19,602

 
 
13,082

 
—

 
25,154

 
—

 
 
 
Deferred financing cost amortization
2,134

 
3,377

 
4,656

 
6,701

 
 
2,134

 
2,896

 
4,656

 
5,739

 
 
 
Debt premium and discount amortization, net
(5,080
)
 
(6,194
)
 
(10,641
)
 
(12,609
)
 
 
(5,080
)
 
(5,768
)
 
(10,641
)
 
(11,756
)
 
 
 
Total interest expense
$
65,953

 
$
72,029

 
$
133,919

 
$
144,938

 
 
$
65,953

 
$
94,373

 
$
133,919

 
$
186,244

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other expense
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Federal and state taxes
1,034

 
941

 
1,924

 
1,896

 
 
1,034

 
941

 
1,924

 
1,896

 
 
 
Other
935

 
2,106

 
2,206

 
2,112

 
 
935

 
2,769

 
2,206

 
2,775

 
 
 
Total other expense
$
1,969

 
$
3,047

 
$
4,130

 
$
4,008

 
 
$
1,969

 
$
3,710

 
$
4,130

 
$
4,671

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating Ratios
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NOI margin (NOI / total rental revenues) (1)(2)
74.4
%
 
74.5
%
 
73.8
%
 
74.0
%
 
 
74.4
%
 
74.3
%
 
73.8
%
 
73.8
%
 
 
 
Expense recovery ratio (expense reimbursements /
    (operating costs + real estate taxes))
86.7
%
 
86.4
%
 
86.6
%
 
84.9
%
 
 
86.7
%
 
86.4
%
 
86.6
%
 
84.8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Additional Disclosures
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Base rent
$
218,543

 
$
213,150

 
$
436,799

 
$
425,431

 
 
$
218,543

 
$
197,974

 
$
436,799

 
$
395,214

 
 
 
Lease termination fees
1,266

 
564

 
1,573

 
1,104

 
 
1,266

 
527

 
1,573

 
1,042

 
 
 
Straight-line rents
4,856

 
4,564

 
9,768

 
8,752

 
 
4,856

 
3,541

 
9,768

 
6,690

 
 
 
Above- and below-market rent amortization, net
11,601

 
12,234

 
23,171

 
24,423

 
 
11,601

 
12,304

 
23,171

 
24,522

 
 
 
Capitalized interest
954

 
1,149

 
1,626

 
2,000

 
 
954

 
1,137

 
1,626

 
1,941

 
 
 
Equity based compensation
3,006

 
—

 
5,123

 
1,605

 
 
3,006

 
—

 
5,123

 
1,605

 
 
 
Capitalized direct leasing compensation costs
3,794

 
3,109

 
7,531

 
6,338

 
 
3,794

 
3,109

 
7,531

 
6,338

 
 
 
Capitalized direct construction compensation costs
1,518

 
64

 
2,912

 
130

 
 
1,518

 
64

 
2,912

 
130

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) NOI excludes unconsolidated joint venture Montecito Marketplace NOI of $177 and $366 at pro rata share for the three and six months ended June 30, 2014, respectively.
 
 
 
(2) NOI includes straight-line rents and above- and below-market rent amortization, net.
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
Supplemental Disclosure - Three Months Ended June 30, 2014
Page 11






SAME PROPERTY NOI ANALYSIS & RECONCILIATION TO NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Actual Results (1)
 
 
 
 
 
 
Three Months Ended
 
 
 
Six Months Ended
 
 
 
 
 
 
 
 
6/30/14
 
6/30/13
 
Change
 
6/30/14
 
6/30/13
 
Change
 
 
Same Property NOI Analysis
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of properties
479

 
479

 
—
 
479

 
479

 
—
 
 
Percent billed
90.5
%
 
89.9
%
 
0.6%
 
90.5
%
 
89.9
%
 
0.6%
 
 
Percent leased
92.6
%
 
91.7
%
 
0.9%
 
92.6
%
 
91.7
%
 
0.9%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Rental income
$
209,116

 
$
202,056

 
 
 
$
416,379

 
$
402,819

 
 
 
 
 
Expense reimbursements
62,075

 
59,860

 
 
 
126,992

 
120,033

 
 
 
 
 
Percentage rents
1,549

 
1,746

 
 
 
2,925

 
3,685

 
 
 
 
 
 
 
 
272,740

 
263,662

 
3.4%
 
546,296

 
526,537

 
3.8%
 
 
Operating expenses
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating costs
(29,727
)
 
(28,469
)
 
 
 
(62,683
)
 
(58,578
)
 
 
 
 
 
Real estate taxes
(41,685
)
 
(41,315
)
 
 
 
(83,922
)
 
(83,330
)
 
 
 
 
 
Provision for doubtful accounts
(2,793
)
 
(2,582
)
 
 
 
(5,519
)
 
(4,907
)
 
 
 
 
 
 
 
 
(74,205
)
 
(72,366
)
 
2.5%
 
(152,124
)
 
(146,815
)
 
3.6%
 
 
Same property NOI
$
198,535

 
$
191,296

 
3.8%
 
$
394,172

 
$
379,722

 
3.8%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Same property NOI excluding redevelopments (2)
$
194,822

 
$
188,021

 
3.6%
 
$
383,887

 
$
370,300

 
3.7%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NOI margin (3)
72.8
%
 
72.6
%
 
0.3%
 
72.2
%
 
72.1
%
 
0.1%
 
 
Expense recovery ratio
86.9
%
 
85.8
%
 
1.3%
 
86.6
%
 
84.6
%
 
2.4%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent contribution to same property NOI growth:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Change
 
Percent Change
 
 
 
Change
 
Percent Change
 
 
 
 
 
Rent growth
7,060

 
3.7%
 
 
 
13,560

 
3.6%
 
 
 
 
 
Net recoveries
587

 
0.3%
 
 
 
2,262

 
0.6%
 
 
 
 
 
Other revenues
(197
)
 
(0.1%)
 
 
 
(760
)
 
(0.2%)
 
 
 
 
 
Provision for doubtful accounts
(211
)
 
(0.1%)
 
 
 
(612
)
 
(0.2%)
 
 
 
 
 
 
 
 
 
 
3.8%
 
 
 
 
 
3.8%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Reconciliation of Net Income (Loss) Attributable to Common Stockholders to Same Property NOI
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss) attributable to common stockholders
$
23,473

 
$
(43,262
)
 
 
 
$
38,874

 
$
(62,760
)
 
 
 
 
Adjustments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue adjustments (4)
(17,628
)
 
(16,016
)
 
 
 
(34,093
)
 
(31,352
)
 
 
 
 
 
Depreciation and amortization
109,666

 
108,622

 
 
 
222,934

 
220,399

 
 
 
 
 
Impairment of real estate assets
—

 
1,531

 
 
 
—

 
1,531

 
 
 
 
 
General and administrative
19,939

 
18,724

 
 
 
39,597

 
41,781

 
 
 
 
 
Total other (income) expense
68,520

 
98,790

 
 
 
140,437

 
189,291

 
 
 
 
 
Equity in income of unconsolidated joint ventures
(71
)
 
(507
)
 
 
 
(136
)
 
(754
)
 
 
 
 
 
Gain on disposal of investments in unconsolidated joint ventures
—

 
—

 
 
 
(1,820
)
 
—

 
 
 
 
 
Pro rata share of same property NOI of unconsolidated joint ventures
172

 
181

 
 
 
362

 
363

 
 
 
 
 
(Income) loss from discontinued operations
—

 
36,678

 
 
 
(19,213
)
 
40,485

 
 
 
 
 
Net income (loss) attributable to non-controlling interests
7,825

 
(13,583
)
 
 
 
34,164

 
(19,531
)
 
 
 
 
 
Non-same property NOI
(13,361
)
 
138

 
 
 
(26,934
)
 
269

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Same property NOI
$
198,535

 
$
191,296

 
 
 
$
394,172

 
$
379,722

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Impact of redevelopments
(3,713
)
 
(3,275
)
 
 
 
(10,285
)
 
(9,422
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Same property NOI excluding redevelopments (2)
$
194,822

 
$
188,021

 
 
 
$
383,887

 
$
370,300

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Represents all properties owned prior to the completion of the IPO. This portfolio excludes the Excluded Properties and the Acquired Properties. Includes unconsolidated joint venture, Montecito Marketplace, at pro rata share.
(2) Excludes four redevelopment properties for the three months ended June 30, 2014 and June 30, 2013. Excludes six redevelopment properties for the six months ended June 30, 2014 and June 30, 2013.
(3) NOI excludes straight-line rents and above- and below-market rent amortization, net.
 
 
 
 
 
 
 
 
 
 
 
 
(4) Includes adjustments for lease settlement income, straight-line rents, above- and below-market rent amortization, net and fee income from managed properties and unconsolidated joint ventures.
 


 
Supplemental Disclosure - Three Months Ended June 30, 2014
Page 12






CAPITAL EXPENDITURES
 
 
 
 
 
 
 
 
 
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pro Forma
 
 
Actual Results
 
 
 
 
 
 
Three Months
 
Six Months
 
 
Three Months
 
Six Months
 
 
 
 
 
 
Ended 6/30/14
 
Ended 6/30/14
 
 
Ended 6/30/14
 
Ended 6/30/14
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capital Expenditures (1):
 
 
 
 
 
 
 
 
 
 
 
Building additions and expansions (2)
$
17,964

 
$
38,737

 
 
$
17,964

 
$
38,737

 
 
 
Building improvements capitalized (3)
6,029

 
7,291

 
 
6,029

 
7,188

 
 
 
Tenant improvements
23,915

 
40,368

 
 
23,915

 
40,037

 
 
 
External leasing commissions
4,657

 
6,857

 
 
4,657

 
6,869

 
 
Total Capital Expenditures
$
52,565

 
$
93,252

 
 
$
52,565

 
$
92,830

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Includes unconsolidated joint ventures at pro rata share.
 
 
 
 
 
 
 
 
 
(2) Revenue-enhancing expenditures.
 
 
 
 
 
 
 
 
 
(3) Non revenue-enhancing expenditures such as lighting, painting, parking lots, roofing and signage.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




 
Supplemental Disclosure - Three Months Ended June 30, 2014
Page 13






CAPITALIZATION, LIQUIDITY & DEBT RATIOS
 
 
 
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Actual Results
 
Pro Forma
 
 
 
 
 
 
6/30/14
 
12/31/13
 
12/31/13
 
 
Debt:
 
 
 
 
 
 
 
 
 
Revolving credit facility
$
267,475

 
$
120,179

 
$
120,179

 
 
 
Term loans
2,100,000

 
1,500,000

 
1,500,000

 
 
 
Corporate bonds
293,667

 
353,617

 
353,617

 
 
 
Mortgage debt
3,216,349

 
3,928,184

 
3,911,383

 
 
 
Financial liabilities
121,470

 
172,689

 
172,689

 
 
Total principal debt
5,998,961

 
6,074,669

 
6,057,868

 
 
Add: Net unamortized premium
69,677

 
81,731

 
82,550

 
 
Total debt
6,068,638

 
6,156,400

 
6,140,418

 
 
Less: cash, cash equivalents and restricted cash
(126,757
)
 
(189,372
)
 
(170,179
)
 
 
Net debt
5,941,881

 
5,967,028

 
5,970,239

 
 
 
 
 
 
 
 
 
 
 
 
 
Equity:
 
 
 
 
 
 
 
 
 
Stockholders' equity
2,450,430

 
2,342,468

 
2,342,468

 
 
 
Non-controlling interests
591,989

 
942,052

 
768,051

 
 
Total equity
3,042,419

 
3,284,520

 
3,110,519

 
 
Total capitalization
$
8,984,300

 
$
9,251,548

 
$
9,080,758

 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding classes of stock and partnership units:
 
 
 
 
 
 
 
 
Common shares outstanding
245,086

 
229,680

 
229,680

 
 
 
Exchangeable BPG Sub shares held by non-controlling interests
50,182

 
58,663

 
58,663

 
 
 
Exchangeable OP Units held by non-controlling interests
8,953

 
15,878

 
15,878

 
 
 
 
 
 
304,221

 
304,221

 
304,221

 
 
 
 
 
 
 
 
 
 
 
 
 
Liquidity:
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
126,757

 
$
189,372

 
$
95,332

 
 
 
Available under unsecured credit facility
982,525

 
1,129,821

 
1,129,821

 
 
 
 
 
 
$
1,109,282

 
$
1,319,193

 
$
1,225,153

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Actual Results
 
 Pro Forma
 
 
 
 
 
 
 
 
 Three Months
 
 Three Months
 
 
 
 
 
 
 
 
Ended 6/30/14
 
Ended 12/31/13
 
 
 
 
Ratios:
 
 
 
 
 
 
 
 
 
Total debt / total market capitalization (1)
46.5%

 
50.0%

 
 
 
 
 
Total debt / total assets, before depreciation (consolidated portfolio only) (2)
53.3%

 
54.0%

 
 
 
 
 
Secured debt to total assets (2)
33.6%

 
35.5%

 
 
 
 
 
Net principal debt to adjusted EBITDA (GAAP)
 7.0x

 
7.1x

 
 
 
 
 
Net principal debt to adjusted EBITDA (cash)
 7.6x

 
7.7x

 
 
 
 
 
Unencumbered assets to unsecured debt
 2.0x

 
2.1x

 
 
 
 
 
Interest coverage (adjusted EBITDA / interest expense)
 3.2x

 
2.9x

 
 
 
 
 
Debt service coverage (adjusted EBITDA / (interest expense + scheduled principal
    payments))
 2.8x

 
2.6x

 
 
 
 
 
Fixed charge coverage (adjusted EBITDA / (interest expense + scheduled principal
    payments + preferred dividends))
 2.8x

 
2.6x

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Actual
 
 
 
 
 
 
 
 
 
 
6/30/14
 
 
 
 
 
 
 
Percentage of total debt:
 
 
 
 
 
 
 
 
 
Fixed
85.5%

 
 
 
 
 
 
 
 
Floating
14.5%

 
 
 
 
 
 
 
Unencumbered summary:
 
 
 
 
 
 
 
 
 
Percent of properties
50.2%

 
 
 
 
 
 
 
 
Percent of NOI
49.2%

 
 
 
 
 
 
 
Weighted average maturity (years):
 
 
 
 
 
 
 
 
 
Fixed
                      3.68

 
 
 
 
 
 
 
 
Floating
                      4.22

 
 
 
 
 
 
 
 
Total
                       3.75

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Market capitalization based on the June 30, 2014 closing stock price of $22.95.
 
 
 
 
 
 
(2) Excludes Inland Preferred.
 
 
 
 
 
 

 
Supplemental Disclosure - Three Months Ended June 30, 2014
Page 14






DEBT OVERVIEW
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Maturity Schedule - Debt & Financial Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Scheduled
Amortization

 
Scheduled
Maturities

 
Total

 
Weighted Avg Interest Rate

 
 
 
 
 
 
 
 
 
 
 
2014
 
 
 
$
15,971

 
$
—

 
$
15,971

 
6.09
%
 
 
 
 
 
 
 
 
 
 
 
2015
 
 
 
31,307

 
817,184

 
848,491

 
6.18
%
 
 
 
 
 
 
 
 
 
 
 
2016
 
 
 
24,249

 
1,235,404

 
1,259,653

 
5.60
%
 
 
 
 
 
 
 
 
 
 
 
2017
 
 
 
23,773

 
595,292

 
619,065

 
4.38
%
 
 
 
 
 
 
 
 
 
 
 
2018
 
 
 
21,388

 
1,500,169

 
1,521,557

 
2.40
%
 
 
 
 
 
 
 
 
 
 
 
2019
 
 
 
22,368

 
600,000

 
622,368

 
1.76
%
 
 
 
 
 
 
 
 
 
 
 
2020
 
 
 
16,397

 
840,567

 
856,964

 
6.50
%
 
 
 
 
 
 
 
 
 
 
 
2021
 
 
 
—

 
186,225

 
186,225

 
6.24
%
 
 
 
 
 
 
 
 
 
 
 
2022+
 
 
 
—

 
68,667

 
68,667

 
7.30
%
 
 
 
 
 
 
 
 
 
 
 
Total Debt Maturities (1)
 
$
155,453

 
$
5,843,508

 
$
5,998,961

 
4.51
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unamortized premiums on mortgages
 
80,106

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unamortized discount on notes
 
(10,429
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt & financial liabilities, net
 
$
6,068,638

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Detailed Maturity Schedule - Debt & Financial Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Rate Secured Mortgages
 
Fixed Rate Unsecured Notes (2)
 
Financial Liabilities (2)
 
Variable Rate Unsecured Credit Facility / Fixed Rate Unsecured Credit Facility (2)
 
 
 
Year
 
Scheduled Amortization

 
Scheduled Maturities

 
Weighted Avg Interest Rate

 
Scheduled Maturities

 
Weighted Avg Interest Rate

 
Scheduled Maturities

 
Weighted Avg Interest Rate

 
Scheduled Maturities

 
Weighted Avg Interest Rate

 
 
 
2014
 
$
15,971

 
$
—

 
6.09
%
 
$
—

 
—

 
$
—

 
—

 
$
—

 
—

 
 
 
2015
 
31,307

 
470,714

 
5.42
%
 
225,000

 
5.27
%
 
121,470

 
11.00
%
 
—

 
—

 
 
 
2016
 
24,249

 
1,235,404

 
5.60
%
 
—

 
—

 
—

 
—

 
—

 
—

 
 
 
2017
 
23,773

 
327,817

 
6.42
%
 
—

 
—

 
—

 
—

 
267,475

 
1.69
%
 
 
 
2018
 
21,388

 
169

 
6.35
%
 
—

 
—

 
—

 
—

 
1,500,000

 
2.34
%
 
 
 
2019
 
22,368

 
—

 
6.31
%
 
—

 
—

 
—

 
—

 
600,000

 
1.59
%
 
 
 
2020
 
16,397

 
840,567

 
6.50
%
 
—

 
—

 
—

 
—

 
—

 
—

 
 
 
2021
 
—

 
186,225

 
6.24
%
 
—

 
—

 
—

 
—

 
—

 
—

 
 
 
2022+
 
—

 
—

 
—

 
68,667

 
7.30
%
 
—

 
—

 
—

 
—

 
 
 
Total Debt Maturities
 
$
155,453

 
$
3,060,896

 
5.96
%
 
$
293,667

 
5.75
%
 
$
121,470

 
11.00
%
 
$
2,367,475

 
2.08
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Excludes unconsolidated joint venture, Montecito Marketplace, debt of $2,978 at pro rata share.
 
 
 
 
 
 
 
 
 
 
 
 
 
(2) No scheduled amortization until maturity dates.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


Supplemental Disclosure - Three Months Ended June 30, 2014
Page 15




SUMMARY OF OUTSTANDING DEBT
 
 
 
 
 
 
 
 
 
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Number of
 
Outstanding
 
Actual
 
Maturity
 
Percent of
 
 
Loan / Property Name
 
MSA
 
 
 
 Properties
 
Balance
 
Interest Rate
 
Date
 
Total Indebtedness
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FIXED RATE DEBT:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Secured Mortgages
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shops of Tuscaloosa
 
Tuscaloosa, AL
 
 
 
1

 
$
6,498

 
5.45
%
 
1/11/15
 
0.11
%
 
 
 
REIT 2 LP 66
 
—
 
 
 
3

 
66,000

 
5.29
%
 
4/1/15
 
1.12
%
 
 
 
Eustis Village
 
Orlando-Kissimmee-Sanford, FL
 
 
1

 
12,229

 
5.45
%
 
5/11/15
 
0.21
%
 
 
 
Governors Town Square
 
Atlanta-Sandy Springs-Roswell, GA
 
1

 
9,462

 
5.20
%
 
6/1/15
 
0.16
%
 
 
 
Turnpike Plaza
 
Hartford-West Hartford-East Hartford, CT
 
1

 
20,500

 
4.90
%
 
6/1/15
 
0.35
%
 
 
 
Sarasota Village
 
North Port-Sarasota-Bradenton, FL
 
1

 
9,813

 
5.02
%
 
6/1/15
 
0.17
%
 
 
 
Sunshine Square
 
New York-Newark-Jersey City, NY-NJ-PA
 
1

 
16,799

 
6.85
%
 
8/5/15
 
0.29
%
 
 
 
Village West
 
Los Angeles-Long Beach-Anaheim, CA
 
1

 
12,755

 
5.25
%
 
8/5/15
 
0.22
%
 
 
 
REIT 20 LP 208
 
—
 
 
 
18

 
208,000

 
5.17
%
 
9/1/15
 
3.54
%
 
 
 
Westminster City Center
 
Denver-Aurora-Lakewood, CO
 
 
1

 
47,000

 
5.17
%
 
9/1/15
 
0.80
%
 
 
 
Hillcrest
 
Spartanburg, SC
 
 
 
1

 
18,500

 
7.50
%
 
9/1/15
 
0.31
%
 
 
 
Hampton Village Centre
 
Detroit-Warren-Dearborn, MI
 
 
1

 
27,551

 
5.65
%
 
9/5/15
 
0.47
%
 
 
 
Wilmington Island
 
Savannah, GA
 
 
 
1

 
8,695

 
5.05
%
 
11/11/15
 
0.15
%
 
 
 
Streetsboro Crossing
 
Akron, OH
 
 
 
1

 
8,925

 
5.37
%
 
12/1/15
 
0.15
%
 
 
 
REIT 4 LP 169
 
—
 
 
 
22

 
154,028

 
5.77
%
 
1/1/16
 
2.62
%
 
 
 
South Plaza Shopping Center
 
California-Lexington Park, MD
 
 
1

 
15,386

 
5.42
%
 
1/11/16
 
0.26
%
 
 
 
REIT 5 LP 240
 
—
 
 
 
12

 
221,997

 
5.63
%
 
2/1/16
 
3.78
%
 
 
 
Chicopee Marketplace
 
Springfield, MA
 
 
 
1

 
17,415

 
5.97
%
 
6/1/16
 
0.30
%
 
 
 
Cobblestone Village I and II
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
1

 
9,994

 
5.97
%
 
6/1/16
 
0.17
%
 
 
 
Springdale
 
Mobile, AL
 
 
 
1

 
36,907

 
5.97
%
 
6/1/16
 
0.63
%
 
 
 
Wilkes-Barre Township Marketplace
 
Scranton--Wilkes-Barre--Hazleton, PA
 
1

 
10,613

 
5.97
%
 
6/1/16
 
0.18
%
 
 
 
Fashion Square
 
Jacksonville, FL
 
 
 
1

 
7,517

 
5.97
%
 
6/1/16
 
0.13
%
 
 
 
REIT 7 LP 86
 
—
 
 
 
7

 
86,000

 
6.32
%
 
8/1/16
 
1.46
%
 
 
 
REIT 16 LP 220
 
—
 
 
 
14

 
220,936

 
5.39
%
 
11/1/16
 
3.76
%
 
 
 
REIT 14 LP 226
 
—
 
 
 
15

 
226,109

 
5.44
%
 
12/1/16
 
3.85
%
 
 
 
REIT 15 LP 233
 
—
 
 
 
15

 
233,977

 
5.44
%
 
12/9/16
 
3.98
%
 
 
 
Dublin Village
 
Dublin, GA
 
 
 
1

 
6,377

 
5.78
%
 
12/11/16
 
0.11
%
 
 
 
Conyers Plaza I *
 
Atlanta-Sandy Springs-Roswell, GA
 
1

 
10,800

 
5.77
%
 
1/1/17
 
0.18
%
 
 
 
Freshwater - Stateline Plaza
 
Hartford-West Hartford-East Hartford, CT
 
1

 
18,045

 
8.00
%
 
2/1/17
 
0.31
%
 
 
 
Greensboro Village
 
Nashville-Davidson--Murfreesboro--Franklin, TN
 
1

 
9,050

 
5.52
%
 
2/11/17
 
0.15
%
 
 
 
LP - JPM 300
 
—
 
 
 
18

 
294,299

 
6.38
%
 
9/1/17
 
5.01
%
 
 
 
Whitaker Square
 
Winston-Salem, NC
 
 
 
1

 
9,226

 
6.32
%
 
12/1/17
 
0.16
%
 
 
 
Christmas Tree Plaza
 
New Haven-Milford, CT
 
 
 
1

 
4,187

 
7.89
%
 
5/11/18
 
0.07
%
 
 
 
Sun Plaza (1)
 
Crestview-Fort Walton Beach-Destin, FL
 
1

 
5,120

 
7.50
%
 
7/1/20
 
0.09
%
 
 
 
Elkhart Market Centre (2)
 
Elkhart-Goshen, IN
 
 
 
1

 
6,761

 
7.50
%
 
7/1/20
 
0.12
%
 
 
 
LP - JPM CMBS
 
—
 
 
 
72

 
552,099

 
6.77
%
 
8/1/20
 
9.39
%
 
 
 
Monroe ShopRite Plaza
 
New York-Newark-Jersey City, NY-NJ-PA
 
1

 
8,508

 
6.50
%
 
8/1/20
 
0.14
%
 
 
 
Bethel Park
 
Pittsburgh, PA
 
 
 
1

 
9,886

 
6.50
%
 
8/1/20
 
0.17
%
 
 
 
Ivyridge
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1

 
13,791

 
6.50
%
 
8/1/20
 
0.23
%
 
 
 
Roosevelt Mall
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1

 
49,162

 
6.50
%
 
8/1/20
 
0.84
%
 
 
 
Inland (Brixmor/IA, LLC) - Pool A
 
—
 
 
 
9

 
102,301

 
5.91
%
 
12/6/20
 
1.74
%
 
 
 
Inland (Brixmor/IA, LLC) - Pool B
 
—
 
 
 
8

 
93,696

 
5.91
%
 
12/6/20
 
1.59
%
 
 
 
Inland (Brixmor/IA, LLC) - Pool C
 
—
 
 
 
7

 
100,498

 
5.91
%
 
12/31/20
 
1.71
%
 
 
 
REIT 20 LP 51 A
 
—
 
 
 
4

 
48,483

 
6.24
%
 
1/6/21
 
0.82
%
 
 
 
REIT 20 LP 45 B
 
—
 
 
 
4

 
43,590

 
6.24
%
 
1/6/21
 
0.74
%
 
 
 
REIT 20 LP 42 C
 
—
 
 
 
5

 
40,751

 
6.24
%
 
1/6/21
 
0.69
%
 
 
 
REIT 20 LP 37 D
 
—
 
 
 
3

 
35,191

 
6.24
%
 
1/6/21
 
0.60
%
 
 
 
REIT 20 LP 43 E
 
—
 
 
 
4

 
40,922

 
6.24
%
 
1/6/21
 
0.70
%
 
 
 
TOTAL FIXED RATE SECURED MORTGAGES
 
 
 
 
 
 
 
3,216,349

 
5.96
%
 
 
 
54.72
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured Credit Facility
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


Supplemental Disclosure - Three Months Ended June 30, 2014
Page 16




SUMMARY OF OUTSTANDING DEBT
 
 
 
 
 
 
 
 
 
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Number of
 
Outstanding
 
Actual
 
Maturity
 
Percent of
 
 
Loan / Property Name
 
MSA
 
 
 
 Properties
 
Balance
 
Interest Rate
 
Date
 
Total Indebtedness
 
 
 
Term Loan Facility (3)
 
—
 
 
 
—

 
$
1,500,000

 
2.34
%
 
7/31/18
 
25.52
%
 
 
 
TOTAL FIXED RATE UNSECURED CREDIT FACILITY
 
 
 
 
 
1,500,000

 
2.34
%
 
 
 
25.52
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured Notes
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5.30%, 2015 Brixmor LLC Notes
 
—
 
 
 
—

 
$
100,000

 
5.30
%
 
1/15/15
 
1.70
%
 
 
 
5.25%, 2015 Brixmor LLC Notes
 
—
 
 
 
—

 
125,000

 
5.25
%
 
9/15/15
 
2.13
%
 
 
 
3.75%, 2023 Brixmor LLC Notes (4)
 
—
 
 
 
—

 
10

 
3.75
%
 
6/1/23
 
0.00
%
 
 
 
7.97%, 2026 Brixmor LLC Notes
 
—
 
 
 
—

 
2,862

 
7.97
%
 
8/14/26
 
0.05
%
 
 
 
7.65%, 2026 Brixmor LLC Notes
 
—
 
 
 
—

 
9,638

 
7.65
%
 
11/2/26
 
0.16
%
 
 
 
7.68%, 2026 Brixmor LLC Notes I
 
—
 
 
 
—

 
5,135

 
7.68
%
 
11/2/26
 
0.09
%
 
 
 
6.90%, 2028 Brixmor LLC Notes I
 
—
 
 
 
—

 
10,644

 
6.90
%
 
2/15/28
 
0.18
%
 
 
 
6.90%, 2028 Brixmor LLC Notes II
 
—
 
 
 
—

 
18,673

 
6.90
%
 
2/15/28
 
0.32
%
 
 
 
7.50%, 2029 Brixmor LLC Notes
 
—
 
 
 
—

 
21,705

 
7.50
%
 
7/30/29
 
0.37
%
 
 
 
TOTAL FIXED RATE UNSECURED NOTES
 
 
 
 
 
 
 
293,667

 
5.75
%
 
 
 
5.00
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL FIXED RATE DEBT
 
 
 
 
 
 
 
$
5,010,016

 
4.86
%
 
 
 
85.24
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
VARIABLE RATE DEBT:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured Credit Facility
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revolving Credit Facility - L+150bps
 
—
 
 
 
—

 
$
267,475

 
1.69
%
 
7/31/17
 
4.55
%
 
 
 
Term Loan Facility - L+140bps
 
—
 
 
 
—

 
600,000

 
1.59
%
 
3/18/19
 
10.21
%
 
 
 
TOTAL VARIABLE RATE UNSECURED CREDIT FACILITY
 
 
 
 
 
867,475

 
1.62
%
 
 
 
14.76
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL VARIABLE RATE DEBT
 
 
 
 
 
 
 
$
867,475

 
1.62
%
 
 
 
14.76
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL DEBT
 
 
 
 
 
 
 
$
5,877,491

 
4.38
%
 
 
 
100.00
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unamortized premiums on mortgages
80,106

 
 
 
 
 
 
 
 
 
 
 
 
 
Net unamortized discount on notes
 
(10,429
)
 
 
 
 
 
 
 
 
 
 
 
 
 
DEBT OBLIGATIONS, NET
 
$
5,947,168

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Financial Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Inland Preferred (5)
 
—
 
 
 
—

 
$
121,470

 
11.00
%
 
12/6/15
 
100.00
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL FINANCIAL LIABILITIES
 
 
 
 
 
 
 
$
121,470

 
11.00
%
 
 
 
100.00
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL DEBT & FINANCIAL LIABILITIES, NET
 
 
 
 
 
$
6,068,638

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
* Indicates property is part of a larger shopping center.
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Debt repaid in July 2014.
 
 
 
 
 
 
 
 
 
 
 
 
 
(2) Lender has a call option at any time after November 2014 with a minimum of 120 days notice.
 
 
 
 
 
 
 
 
 
 
 
(3) Term loan facility has been swapped from 1 month Libor to fixed at a combined rate of 0.844% (spread of 150bps).
 
 
 
 
 
 
 
 
 
(4) As of June 30, 2014, $114.99 million of the $115.0 million aggregate principal amount of the notes had been converted into cash by holders thereof.
 
 
 
 
 
(5) Represents preferred equity of a venture with Inland American Real Estate Trust Inc., which is treated as mortgage debt for GAAP purposes. Brixmor’s ownership in the venture is approximately 30%.
 
 




Supplemental Disclosure - Three Months Ended June 30, 2014
Page 17




UNSECURED CREDIT FACILITY COVENANT DISCLOSURE
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Covenants
 
As of 6/30/14
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 I. Leverage ratio
 < 60%
 
46.3
%
 
 
 
 
 
Total Outstanding Indebtedness
 
 
6,001,921

 
 
 
 
 
Balance Sheet Cash
 
 
130,613

 
 
 
 
 
Total Asset Value
 
 
12,692,172

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
II. Secured leverage ratio
< 40%
 
25.3
%
 
 
 
 
 
Total Secured Indebtedness
 
 
3,340,780

 
 
 
 
 
Balance Sheet Cash
 
 
130,613

 
 
 
 
 
Total Asset Value
 
 
12,692,172

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
III. Unsecured leverage ratio
 < 60%
 
41.8
%
 
 
 
 
 
Total Unsecured Indebtedness
 
 
2,661,142

 
 
 
 
 
Unrestricted Cash
 
 
65,686

 
 
 
 
 
Unencumbered Asset Value
 
 
6,213,091

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
IV. Fixed charge coverage ratio
 > 1.5x
 
 2.8x

 
 
 
 
 
Total Net Operating Income
 
 
884,281

 
 
 
 
 
Capital Expenditure Reserve
 
 
13,015

 
 
 
 
 
Fixed Charges
 
 
307,646

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Definitions for line of credit covenants:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Outstanding Indebtedness:
 
Total Indebtedness including capital leases, financing liabilities, redeemable non-controlling interests, letters of credit, guarantee obligations, and the Company's applicable share of joint venture Indebtedness.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance Sheet Cash:
 
 
 
Cash and cash equivalents, Restricted cash, and certain Marketable securities.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Asset Value:
 
 
 
 
An amount equal to the sum of the following for the Company and the Company's applicable share of its joint ventures: (i) Net Operating Income from Stabilized Projects for the most recent six months annualized divided by 7.00%, (ii) the amount of Management Fees received by the Company for the most recent six months annualized divided by 7.00%, (iii) Acquisition Assets valued at the higher of their capitalization value (Net Operating Income for the most recent six months annualized divided by 7.00%) or acquisition cost, (iv) undepreciated Book Value of Land, (v) undepreciated Book Value of Assets Under Development, (vi) undepreciated Book Value of Non-Stabilized Projects, (vii) value of Mezzanine Debt Investments, (viii) value of all First Mortgage Receivables. The aggregate contributions to Total Asset Value from items (v), (vi), and (vii) above shall not exceed 35% of Total Asset Value.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Secured Indebtedness:
 
 
All indebtedness that is secured by a lien on any asset.
 
 
Total Unsecured Indebtedness:
 
All Indebtedness that is not Secured Indebtedness.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrestricted Cash:
 
 
 
 
Cash and cash equivalents, and certain marketable securities but excluding restricted cash.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unencumbered Asset Value:
 
 
Total Asset Value from Unencumbered Assets.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unencumbered Assets:
 
 
 
Any acquisition asset, land, operating property and any asset under development located in the Unites States which, as of any date of determination is not subject to any liens, claims, or restrictions on transferability or assignability of any kind other than (i) permitted encumbrances or liens in favor of the administrative agent and (ii) customary restrictions on transferability that result in a change of control or that trigger a right of first offer or right of first refusal.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Net Operating Income:
 
 
For the Company and the Company's applicable share of its joint ventures, as determined in accordance with GAAP, an amount equal to (i) the aggregate rental income and other revenues from the operation of all real estate assets, including from straight-lined rent and amortization of above- and below-market leases minus (ii) all expenses and other charges incurred in connection with the operation of such real estate assets but excluding the payment of or provision for debt service charges, income taxes, capital expenses, depreciation, amortization and other non-cash expenses.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
For any period, the sum of (i) total interest expense, (ii) all scheduled principal payments due on account of total outstanding indebtedness (excluding balloon payments) and (iii) all dividends payable on account of preferred stock or preferred operating partnership units of the borrower or any other person in the consolidated group.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capital Expenditure Reserve:
 
 
For any Operating Property, an amount equal to (i) $0.15 multiplied by (ii) the number of square feet of such Operating Property.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Note: For full detailed descriptions of the Credit Facility Covenant calculations and definitions of capitalized terms please refer to the Revolving Credit and Term Loan Agreement, dated as of July 16, 2013 filed as Exhibit 10.6 to Amendment No. 1 to Form S-11, filed with the Securities and Exchange Commission on August 23, 2013.
 

 
Supplemental Disclosure - Three Months Ended June 30, 2014
Page 18






RECONCILIATION OF GAAP BALANCE SHEET TO PRO FORMA BALANCE SHEET
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Actual Results
 
 
 
Pro Forma
 
 
 
 
 
 
12/31/13
 
Adjustments (1)
 
12/31/13
 
 
Assets
 
 
 
 
 
 
 
 
Real estate
 
 
 
 
 
 
 
 
 
Land
$
2,055,802

 
$
(66,642
)
 
$
1,989,160

 
 
 
 
Buildings and improvements
8,781,926

 
(127,027
)
 
8,654,899

 
 
 
 
 
 
10,837,728

 
(193,669
)
 
10,644,059

 
 
 
 
Accumulated depreciation and amortization
(1,190,170
)
 
29,692

 
(1,160,478
)
 
 
 
Real estate, net
9,647,558

 
(163,977
)
 
9,483,581

 
 
 
Investments in and advances to unconsolidated joint ventures
9,205

 
(4,034
)
 
5,171

 
 
 
Cash and cash equivalents
113,915

 
(18,583
)
 
95,332

 
 
 
Restricted cash
75,457

 
(610
)
 
74,847

 
 
 
Marketable securities
22,104

 
—

 
22,104

 
 
 
Receivables, net
178,505

 
(2,921
)
 
175,584

 
 
 
Deferred charges and prepaid expenses, net
105,522

 
(2,285
)
 
103,237

 
 
 
Other assets
19,650

 
(5,607
)
 
14,043

 
 
Total assets
$
10,171,916

 
$
(198,017
)
 
$
9,973,899

 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
Debt obligations, net
$
5,981,289

 
$
(15,982
)
 
$
5,965,307

 
 
 
Financing liabilities, net
175,111

 
—

 
175,111

 
 
 
Accounts payable, accrued expenses and other liabilities
709,529

 
(8,034
)
 
701,495

 
 
Total liabilities
6,865,929

 
(24,016
)
 
6,841,913

 
 
 
 
 
 
 
 
 
 
 
 
 
Redeemable non-controlling interests
21,467

 
—

 
21,467

 
 
Commitments and contingencies
—

 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
Equity
 
 
 
 
 
 
 
 
Common stock, $0.01 par value; authorized 3,000,000,000 shares;
 
 
 
 
 
 
 
 
 
229,689,960 shares outstanding
2,297

 
—

 
2,297

 
 
 
Additional paid in capital
2,543,690

 
—

 
2,543,690

 
 
 
Accumulated other comprehensive loss
(6,812
)
 
—

 
(6,812
)
 
 
 
Distributions and accumulated losses
(196,707
)
 
—

 
(196,707
)
 
 
Total stockholders' equity
2,342,468

 
—

 
2,342,468

 
 
 
Non-controlling interests
942,052

 
(174,001
)
 
768,051

 
 
Total equity
3,284,520

 
(174,001
)
 
3,110,519

 
 
Total liabilities and equity
$
10,171,916

 
$
(198,017
)
 
$
9,973,899

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Reflects the impact of distributing the Excluded Properties as if the distribution was completed on December 31, 2013.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




 
Supplemental Disclosure - Three Months Ended June 30, 2014
Page 19






RECONCILIATION OF GAAP STATEMENTS OF OPERATIONS TO PRO FORMA
STATEMENTS OF OPERATIONS
Unaudited, dollars in thousands, except per share amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended 6/30/13
 
Six Months Ended 6/30/14
 
Six Months Ended 6/30/13
 
 
 
 
 
 
Actual Results
 
Adjustments (1)
 
Pro Forma
 
Actual Results
 
Adjustments (1)
 
Pro Forma
 
Actual Results
 
Adjustments (1)
 
Pro Forma
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Rental income
$
216,296

 
$
16,366

 
$
232,662

 
$
477,336

 
$
—

 
$
477,336

 
$
430,854

 
$
32,870

 
$
463,724

 
 
 
Expense reimbursements
59,311

 
3,984

 
63,295

 
134,317

 
—

 
134,317

 
118,915

 
8,054

 
126,969

 
 
 
Other revenues
2,613

 
35

 
2,648

 
4,120

 
—

 
4,120

 
5,760

 
73

 
5,833

 
 
Total revenues
278,220

 
20,385

 
298,605

 
615,773

 
—

 
615,773

 
555,529

 
40,997

 
596,526

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating expenses
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating costs
27,659

 
2,236

 
29,895

 
66,790

 
—

 
66,790

 
57,506

 
4,593

 
62,099

 
 
 
Real estate taxes
40,995

 
2,374

 
43,369

 
88,281

 
—

 
88,281

 
82,696

 
4,737

 
87,433

 
 
 
Depreciation and amortization
108,622

 
11,279

 
119,901

 
222,934

 
—

 
222,934

 
220,399

 
22,557

 
242,956

 
 
 
Provision for doubtful accounts
2,573

 
109

 
2,682

 
5,865

 
—

 
5,865

 
4,885

 
275

 
5,160

 
 
 
Impairment of real estate assets
1,531

 
—

 
1,531

 
—

 
—

 
—

 
1,531

 
—

 
1,531

 
 
 
General and administrative
18,724

 
211

 
18,935

 
39,597

 
—

 
39,597

 
41,781

 
549

 
42,330

 
 
Total operating expenses
200,104

 
16,209

 
216,313

 
423,467

 
—

 
423,467

 
408,798

 
32,711

 
441,509

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other income (expense)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dividends and interest
239

 
4

 
243

 
267

 
—

 
267

 
420

 
6

 
426

 
 
 
Interest expense
(94,373
)
 
22,344

 
(72,029
)
 
(133,919
)
 
—

 
(133,919
)
 
(186,244
)
 
41,306

 
(144,938
)
 
 
 
Gain (loss) on sale of real estate assets
722

 
—

 
722

 
378

 
—

 
378

 
722

 
(161
)
 
561

 
 
 
Gain (loss) on extinguishment of debt, net
(1,668
)
 
—

 
(1,668
)
 
(3,033
)
 
—

 
(3,033
)
 
482

 
—

 
482

 
 
 
Other
(3,710
)
 
663

 
(3,047
)
 
(4,130
)
 
—

 
(4,130
)
 
(4,671
)
 
663

 
(4,008
)
 
 
Total other income (expense)
(98,790
)
 
23,011

 
(75,779
)
 
(140,437
)
 
—

 
(140,437
)
 
(189,291
)
 
41,814

 
(147,477
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) before equity in income of unconsolidated
    joint ventures
(20,674
)
 
27,187

 
6,513

 
51,869

 
—

 
51,869

 
(42,560
)
 
50,100

 
7,540

 
 
Equity in income of unconsolidated joint ventures
507

 
(212
)
 
295

 
136

 
68

 
204

 
754

 
(350
)
 
404

 
 
Gain on disposal of investments in unconsolidated joint
    ventures
—

 
—

 
—

 
1,820

 
(1,820
)
 
—

 
—

 
—

 
—

 
 
Income (loss) from continuing operations
(20,167
)
 
26,975

 
6,808

 
53,825

 
(1,752
)
 
52,073

 
(41,806
)
 
49,750

 
7,944

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Discontinued operations
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income from discontinued operations
(302
)
 
302

 
—

 
4,787

 
(4,787
)
 
—

 
(1,077
)
 
1,077

 
—

 
 
 
Gain on disposition of operating properties
2,631

 
(2,631
)
 
—

 
14,426

 
(14,426
)
 
—

 
2,631

 
(2,631
)
 
—

 
 
 
Impairment of real estate held for sale
(39,007
)
 
39,007

 
—

 
—

 
—

 
—

 
(42,039
)
 
42,039

 
—

 
 
Income (loss) from discontinued operations
(36,678
)
 
36,678

 
—

 
19,213

 
(19,213
)
 
—

 
(40,485
)
 
40,485

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
(56,845
)
 
63,653

 
6,808

 
73,038

 
(20,965
)
 
52,073

 
(82,291
)
 
90,235

 
7,944

 
 
Non-controlling interests
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net (income) loss attributable to non-controlling interests
13,583

 
(15,509
)
 
(1,926
)
 
(34,164
)
 
20,992

 
(13,172
)
 
19,531

 
(21,984
)
 
(2,453
)
 
 
Net income (loss) attributable to common stockholders
$
(43,262
)
 
$
48,144

 
$
4,882

 
$
38,874

 
$
27

 
$
38,901

 
$
(62,760
)
 
$
68,251

 
$
5,491

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Per common share:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic
$
(0.09
)
 
$
0.11

 
$
0.02

 
$
0.17

 
$
—

 
$
0.17

 
$
(0.18
)
 
$
0.20

 
$
0.02

 
 
 
 
Diluted
$
(0.09
)
 
$
0.11

 
$
0.02

 
$
0.17

 
$
—

 
$
0.17

 
$
(0.18
)
 
$
0.20

 
$
0.02

 
 
 
Net income (loss) attributable to common stockholders:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic
$
(0.24
)
 
$
0.26

 
$
0.02

 
$
0.17

 
$
—

 
$
0.17

 
$
(0.35
)
 
$
0.37

 
$
0.02

 
 
 
 
Diluted
$
(0.24
)
 
$
0.26

 
$
0.02

 
$
0.17

 
$
—

 
$
0.17

 
$
(0.35
)
 
$
0.37

 
$
0.02

 
 
 
Weighted average number of vested common shares:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic
180,675

 
47,438

 
228,113

 
228,547

 
—

 
228,547

 
180,675

 
47,438

 
228,113

 
 
 
 
Diluted
180,675

 
49,519

 
230,194

 
229,907

 
—

 
229,907

 
180,675

 
49,519

 
230,194

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Reflects the impact of the following transactions associated with the IPO including (i) the contribution of the Acquired Properties (ii) the distribution of the Excluded Properties (iii) the acquisition of
 
the interest not already held in Arapahoe Crossings L.P. (iv) borrowings under the unsecured credit facility, including the use thereof and (v) the net proceeds from the IPO, including the use thereof.
 
The pro forma adjustments for the three and six months ended June 30, 2013 associated with these transactions assume that each transaction was completed as of January 1, 2013. The pro forma
 
 
adjustments for the six months ended June 30, 2014 associated with these transactions assume that each transaction was completed as of January 1, 2014.
 
 
 
 
 
 
 



 
Supplemental Disclosure - Three Months Ended June 30, 2014
Page 20






 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TRANSACTION SUMMARY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended June 30, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





ACQUISITIONS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
There were no acquisitions during the six months ended June 30, 2014.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




 
Supplemental Disclosure - Three Months Ended June 30, 2014
Page 22






DISPOSITIONS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
Property Type (1)
 
MSA
 
 
 
Sale
Date
 
Sale
Amount
 
Gain /
(loss)
 
Cap-
Rate
 
GLA / Acres
 
Percent Leased
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Building at Sunrise Town Center
B
 
Miami-Fort Lauderdale-West Palm Beach, FL
2/11/14
 
$
3,000

 
$
378

 
—

 
18,000

 
—

 
 
 
 
 
 
 
 
 
 
 
 
3,000

 
378

 
—

 
18,000

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL - SIX MONTHS ENDED 6/30/14
 
$
3,000

 
$
378

 
—

 
18,000

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) B - Building.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




 
Supplemental Disclosure - Three Months Ended June 30, 2014
Page 23






 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
IPO PORTFOLIO SUMMARY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended June 30, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





PORTFOLIO OVERVIEW
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of:
 
 
 
 
 
 
 
 
 
6/30/14
 
3/31/14
 
12/31/13
 
9/30/13
 
6/30/13
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of properties
 
 
522

 
522

 
522

 
522

 
522

 
 
 
 
 
GLA
 
 
      86,764,493

 
      86,718,016

 
      86,806,352

 
      86,796,116

 
      86,739,958

 
 
 
 
 
Percent leased
 
 
92.5%

 
92.3%

 
92.4%

 
92.1%

 
91.6%

 
 
 
 
 
 
TOTAL ≥ 10,000 SF
 
 
97.0%

 
96.7%

 
97.1%

 
96.9%

 
96.4%

 
 
 
 
 
 
TOTAL < 10,000 SF
 
 
82.1%

 
81.9%

 
81.6%

 
80.9%

 
80.6%

 
 
 
 
 
Percent billed
 
 
90.5%

 
90.5%

 
90.7%

 
90.2%

 
89.9%

 
 
 
 
 
ABR
 
 
$
903,423,457

 
$
898,961,821

 
$
895,080,953

 
$
886,800,318

 
$
878,210,270

 
 
 
 
 
ABR/SF
 
 
$
12.04

 
$
12.01

 
$
11.93

 
$
11.87

 
$
11.83

 
 
 
 
 
Percent grocery anchored
 
 
70%

 
70%

 
70%

 
71%

 
70%

 
 
 
 
 
Percent community shopping centers
 
63%

 
63%

 
63%

 
63%

 
63%

 
 
 
 
 
Percent neighborhood shopping centers
 
37%

 
37%

 
37%

 
37%

 
37%

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PORTFOLIO BY UNIT SIZE AS OF 6/30/14
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of
Units
 
GLA
 
Percent Leased
 
Percent Billed
 
Percent of Vacant GLA
 
 ABR
 
ABR/SF
 
 
 
 
≥ 35,000 SF
                  581
 
      36,291,868

 
98.5%

 
97.4%

 
8.4%

 
$
272,272,261

 
$
8.58

 
 
 
 
20,000 – 34,999 SF
                  555
 
      14,615,214

 
96.2%

 
94.0%

 
8.6%

 
129,190,864

 
9.38

 
 
 
 
10,000 - 19,999 SF
                  718
 
        9,730,024

 
92.6%

 
90.2%

 
11.0%

 
107,621,071

 
12.29

 
 
 
 
5,000 - 9,999 SF
               1,389
 
        9,582,340

 
84.1%

 
80.3%

 
23.4%

 
118,468,110

 
15.36

 
 
 
 
< 5,000 SF
               8,048
 
      16,545,047

 
80.9%

 
78.4%

 
48.6%

 
275,871,151

 
21.18

 
 
 
 
TOTAL
             11,291
 
      86,764,493

 
92.5%

 
90.5%

 
100.0%

 
$
903,423,457

 
$
12.04

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL ≥ 10,000 SF
               1,854
 
      60,637,106

 
97.0%

 
95.4%

 
28.0%

 
$
509,084,196

 
$
9.38

 
 
 
 
TOTAL < 10,000 SF
               9,437
 
      26,127,387

 
82.1%

 
79.1%

 
72.0%

 
394,339,261

 
19.02

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





Supplemental Disclosure - Three Months Ended June 30, 2014
Page 25




TOP FORTY RETAILERS RANKED BY ABR
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Retailer
 
 
 
Owned Leases
 
GLA
 
Percent of
Portfolio GLA
 
ABR
 
Percent of
Portfolio ABR
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1
The Kroger Co. (1)
 
 
 
68

 
4,376,981

 
5.0
%
 
$
30,192,440

 
3.3
%
 
 
 
2
The TJX Companies, Inc. (2)
 
 
94

 
2,972,002

 
3.4
%
 
28,709,313

 
3.2
%
 
 
 
3
Wal-Mart Stores, Inc. (3)
 
 
 
28

 
3,478,406

 
4.0
%
 
16,830,690

 
1.9
%
 
 
 
4
Publix Super Markets, Inc. (4)
 
 
39

 
1,801,416

 
2.1
%
 
16,650,017

 
1.8
%
 
 
 
5
Dollar Tree Stores, Inc. (5)
 
 
 
129

 
1,475,055

 
1.7
%
 
14,840,735

 
1.6
%
 
 
 
6
Ahold USA, Inc. (6)
 
 
 
21

 
1,259,102

 
1.5
%
 
14,038,885

 
1.6
%
 
 
 
7
Sears Holdings Corporation (7)
 
 
28

 
2,573,863

 
3.0
%
 
11,662,133

 
1.3
%
 
 
 
8
Office Depot, Inc. (8)
 
 
 
42

 
952,588

 
1.1
%
 
10,048,117

 
1.1
%
 
 
 
9
PetSmart, Inc.
 
 
 
30

 
661,834

 
0.8
%
 
9,263,023

 
1.0
%
 
 
 
10
Bed Bath & Beyond Inc. (9)
 
 
 
30

 
729,787

 
0.8
%
 
9,116,697

 
1.0
%
 
 
 
 
TOP 10 RETAILERS
 
 
 
509

 
20,281,034

 
23.4
%
 
161,352,050

 
17.9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11
Best Buy Co., Inc. (10)
 
 
 
16

 
660,392

 
0.8
%
 
8,778,043

 
1.0
%
 
 
 
12
Ross Stores, Inc. (11)
 
 
 
29

 
823,474

 
0.9
%
 
8,483,311

 
0.9
%
 
 
 
13
Big Lots, Inc.
 
 
 
45

 
1,448,043

 
1.7
%
 
8,467,506

 
0.9
%
 
 
 
14
Safeway Inc. (12)
 
 
 
16

 
842,883

 
1.0
%
 
8,249,737

 
0.9
%
 
 
 
15
Burlington Stores, Inc.
 
 
 
15

 
1,191,928

 
1.4
%
 
8,183,526

 
0.9
%
 
 
 
16
Staples, Inc.
 
 
 
32

 
704,608

 
0.8
%
 
8,134,059

 
0.9
%
 
 
 
17
Kohl's Corporation
 
 
 
12

 
1,019,875

 
1.2
%
 
7,263,680

 
0.8
%
 
 
 
18
PETCO Animal Supplies, Inc. (13)
 
 
33

 
452,093

 
0.5
%
 
6,882,833

 
0.8
%
 
 
 
19
DICK'S Sporting Goods, Inc. (14)
 
 
12

 
492,031

 
0.6
%
 
6,400,866

 
0.7
%
 
 
 
20
Ascena Retail Group, Inc. (15)
 
 
59

 
356,252

 
0.4
%
 
6,361,998

 
0.7
%
 
 
 
 
TOP 20 RETAILERS
 
 
 
778

 
28,272,613

 
32.6
%
 
238,557,610

 
26.4
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
21
Bi-Lo Holdings, LLC (16)
 
 
 
18

 
834,061

 
1.0
%
 
6,322,599

 
0.7
%
 
 
 
22
Hobby Lobby Stores, Inc.
 
 
 
16

 
943,615

 
1.1
%
 
6,122,108

 
0.7
%
 
 
 
23
L.A. Fitness International, LLC
 
 
9

 
390,095

 
0.4
%
 
5,659,224

 
0.6
%
 
 
 
24
Michaels Stores, Inc.
 
 
 
25

 
559,226

 
0.6
%
 
5,583,317

 
0.6
%
 
 
 
25
H.E. Butt Grocery Company (17)
 
 
8

 
510,551

 
0.6
%
 
5,471,054

 
0.6
%
 
 
 
26
The Home Depot, Inc.
 
 
 
8

 
799,388

 
0.9
%
 
5,447,371

 
0.6
%
 
 
 
27
Party City Corporation
 
 
 
31

 
389,915

 
0.4
%
 
5,204,262

 
0.6
%
 
 
 
28
Giant Eagle, Inc. (18)
 
 
 
7

 
555,560

 
0.6
%
 
5,084,234

 
0.6
%
 
 
 
29
Stage Stores, Inc. (19)
 
 
 
33

 
816,259

 
0.9
%
 
4,842,807

 
0.5
%
 
 
 
30
Walgreen Co.
 
 
 
21

 
300,253

 
0.3
%
 
4,820,891

 
0.5
%
 
 
 
31
Albertsons LLC (20)
 
 
 
8

 
456,420

 
0.5
%
 
4,714,445

 
0.5
%
 
 
 
32
Barnes & Noble, Inc.
 
 
 
12

 
258,663

 
0.3
%
 
4,459,215

 
0.5
%
 
 
 
33
The Great Atlantic & Pacific Tea Company (21)
 
 
7

 
330,480

 
0.4
%
 
4,396,267

 
0.5
%
 
 
 
34
CVS Caremark Corporation
 
 
23

 
299,440

 
0.3
%
 
4,291,282

 
0.5
%
 
 
 
35
Jo-Ann Stores, Inc.
 
 
 
22

 
422,763

 
0.5
%
 
4,246,067

 
0.5
%
 
 
 
36
Toys"R"US, Inc. (22)
 
 
 
13

 
477,284

 
0.6
%
 
4,244,320

 
0.5
%
 
 
 
37
Delhaize America Inc. (23)
 
 
 
13

 
484,158

 
0.6
%
 
4,097,418

 
0.5
%
 
 
 
38
Wakefern Food Corporation (24)
 
 
7

 
354,575

 
0.4
%
 
4,064,206

 
0.4
%
 
 
 
39
Payless ShoeSource
 
 
 
68

 
209,597

 
0.2
%
 
4,046,516

 
0.4
%
 
 
 
40
JP Morgan Chase & Co.
 
 
 
31

 
110,693

 
0.1
%
 
3,946,080

 
0.4
%
 
 
 
 
TOTAL TOP 40 RETAILERS
 
 
1,158

 
37,775,609

 
43.5
%
 
$
335,621,292

 
37.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Impact of Pending Transactions:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Safeway Inc. and Albertsons LLC merger
 
 
24

 
1,299,303

 
1.5
%
 
$
12,964,181

 
1.4
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Includes Kroger (54), Harris Teeter (3), King Soopers (3), Ralphs (3), Smith's (2),
 
(9) Includes Bed Bath & Beyond (16), Harmon Face Values (6), Christmas Tree
 
(18) Includes Giant Eagle (6) and Good Cents Grocery + More (1).
Dillons (1), Food 4 Less (1) and Pay Less (1).
 
 
Shops (4), World Market (3) and buybuy BABY (1).
 
 
 
(19) Includes Bealls Outlet (12), Peebles (9), Bealls (6), Palais Royal (3),
(2) Includes T.J. Maxx (50), Marshalls (35) and HomeGoods (9).
 
(10) Includes Best Buy.
 
 
 
 
 
Goody's (2), and Stage (1).
 
 
(3) Includes Supercenters (14), Discount Stores (9), Walmart Neighborhood
 
(11) Includes Ross Dress for Less.
 
 
 
(20) Includes Shaw's (3), Albertsons (2), Jewel-Osco (2) and Acme (1).
Market (4) and Sam's Club (1).
 
 
(12) Includes Vons (5), Randalls (4), Dominick's (3), Tom Thumb (3) and Safeway (1).
 
(21) Includes A&P (3), Pathmark (2), Superfresh (1) and Waldbaum's (1).
(4) Includes Publix (38) and Publix Sabor (1).
 
 
(13) Includes PETCO (32) and Unleashed (1).
 
 
 
(22) Includes Babies"R"Us (8) and Toys"R"Us (5).
 
(5) Includes Dollar Tree (125), Deals (3) and Dollar Stop (1).
 
 
(14) Includes DICK'S Sporting Goods (9) and Golf Galaxy (3).
 
 
(23) Includes Food Lion (10), Hannaford (2) and Bottom Dollar Food (1).
(6) Includes Giant Food (10), Super Stop & Shop (7), Martin's Food Markets (2),
 
(15) Includes dressbarn (27), Catherines (11), Lane Bryant (8), Justice (8) and
 
(24) Includes ShopRite (4) and PriceRite (3).
 
Stop & Shop (1) and Tops (1).
 
 
 
maurices (5).
 
 
 
 
 
 
 
 
 
(7) Includes Kmart (25), Sears (2) and Sears Outlet (1).
 
 
(16) Includes Winn-Dixie (10), BI-LO (5) and Harveys (3).
 
 
 
 
 
 
 
(8) Includes Office Depot (23) and OfficeMax (19).
 
 
(17) Includes H-E-B (7) and Central Market (1).
 
 
 
 
 
 
 



Supplemental Disclosure - Three Months Ended June 30, 2014
Page 26




NEW & RENEWAL LEASE SUMMARY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Comparable Only
 
Renewal Rate
(by count)
 
Renewal Rate
(by GLA)
 
 
 
 
 
 
 
Leases
 
GLA
 
New ABR
 
New ABR/SF
 
Leases
 
GLA
 
New ABR/SF
 
Old ABR/SF
 
Rent
Growth (1)
 
 
 
 
 
 
TOTAL - ALL LEASES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 6/30/14
556

 
3,700,930

 
$
42,653,655

 
$
11.53

 
415

 
3,069,250

 
$
11.54

 
$
10.37

 
11.2
%
 
—

 
—

 
 
 
 
Three months ended 3/31/14
525

 
2,936,680

 
38,070,170

 
12.96

 
392

 
2,512,983

 
12.72

 
11.43

 
11.3
%
 
—

 
—

 
 
 
 
Three months ended 12/31/13
538

 
3,312,489

 
39,623,745

 
11.96

 
397

 
2,838,272

 
11.36

 
10.23

 
11.0
%
 
—

 
—

 
 
 
 
Three months ended 9/30/13
640

 
4,052,233

 
48,187,519

 
11.89

 
487

 
3,387,852

 
11.86

 
10.63

 
11.5
%
 
—

 
—

 
 
 
 
TOTAL - TTM
 
 
2,259

 
14,002,332

 
$
168,535,089

 
$
12.04

 
1,691

 
11,808,357

 
$
11.84

 
$
10.64

 
11.3
%
 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NEW LEASES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 6/30/14
214

 
1,094,245

 
$
13,698,310

 
$
12.52

 
73

 
462,565

 
$
13.95

 
$
10.96

 
27.3
%
 
—

 
—

 
 
 
 
Three months ended 3/31/14
202

 
744,131

 
11,295,760

 
15.18

 
69

 
320,434

 
16.19

 
13.38

 
21.0
%
 
—

 
—

 
 
 
 
Three months ended 12/31/13
199

 
859,397

 
12,926,819

 
15.04

 
58

 
385,180

 
14.36

 
11.51

 
24.8
%
 
—

 
—

 
 
 
 
Three months ended 9/30/13
217

 
975,183

 
12,937,956

 
13.27

 
64

 
310,802

 
15.85

 
10.50

 
50.9
%
 
—

 
—

 
 
 
 
TOTAL - TTM
 
 
832

 
3,672,956

 
$
50,858,845

 
$
13.85

 
264

 
1,478,981

 
$
14.94

 
$
11.53

 
29.6
%
 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
RENEWAL & OPTION LEASES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 6/30/14
342

 
2,606,685

 
$
28,955,345

 
$
11.11

 
342

 
2,606,685

 
$
11.11

 
$
10.27

 
8.2
%
 
77.9
%
 
74.8
%
 
 
 
 
Three months ended 3/31/14
323

 
2,192,549

 
26,774,410

 
12.21

 
323

 
2,192,549

 
12.21

 
11.15

 
9.5
%
 
79.6
%
 
84.2
%
 
 
 
 
Three months ended 12/31/13
339

 
2,453,092

 
26,696,927

 
10.88

 
339

 
2,453,092

 
10.88

 
10.03

 
8.5
%
 
77.2
%
 
90.5
%
 
 
 
 
Three months ended 9/30/13
423

 
3,077,050

 
35,249,563

 
11.46

 
423

 
3,077,050

 
11.46

 
10.65

 
7.6
%
 
77.9
%
 
82.7
%
 
 
 
 
TOTAL - TTM
 
 
1,427

 
10,329,376

 
$
117,676,244

 
$
11.39

 
1,427

 
10,329,376

 
$
11.39

 
$
10.51

 
8.4
%
 
78.2
%
 
83.8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
RENT GROWTH BY TENANT SIZE
 
 
 
 
 
 
 
 
 
 
LEASES BY ANCHOR AND SMALL SHOP - THREE MONTHS ENDED 6/30/14
 
 
 
 
 
 
 
 
 
Three Months Ended
 
 
 
 
 
 
 
% of Leases
 
% of GLA
 
% of ABR
 
 New ABR/SF
 
 
 
 
TOTAL - ALL LEASES
 
6/30/14
 
3/31/14
 
12/31/13
 
9/30/13
 
 
 
Anchor Leases (≥ 10,000 SF)
 
 
 
 
 
 
 
 
 
 
 
≥ 35,000 SF
 
 
15.0
%
 
4.1
%
 
8.2
%
 
15.1
%
 
 
 
Total - All leases
 
 
15
%
 
67
%
 
50
%
 
$
8.56

 
 
 
 
20,000 – 34,999 SF
 
10.2
%
 
11.4
%
 
19.9
%
 
11.4
%
 
 
 
New leases
 
 
 
9
%
 
51
%
 
37
%
 
9.19

 
 
 
 
10,000 - 19,999 SF
 
11.3
%
 
13.8
%
 
7.7
%
 
13.6
%
 
 
 
Renewal leases
 
 
 
18
%
 
73
%
 
55
%
 
8.38

 
 
 
 
5,000 - 9,999 SF
 
 
13.8
%
 
12.5
%
 
15.6
%
 
10.6
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
< 5,000 SF
 
 
8.4
%
 
13.5
%
 
9.4
%
 
9.4
%
 
 
 
Small Shop Leases (< 10,000 SF)
 
 
 
 
 
 
 
 
 
 
TOTAL
 
 
11.2
%
 
11.3
%
 
11.0
%
 
11.5
%
 
 
 
Total - All leases
 
 
85
%
 
33
%
 
50
%
 
$
17.48

 
 
 
 
TOTAL ≥ 10,000 SF
 
12.7
%
 
8.9
%
 
11.1
%
 
13.5
%
 
 
 
New leases
 
 
 
91
%
 
49
%
 
63
%
 
15.99

 
 
 
 
TOTAL < 10,000 SF
 
9.6
%
 
13.2
%
 
10.9
%
 
9.7
%
 
 
 
Renewal leases
 
 
 
82
%
 
27
%
 
45
%
 
18.63

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Cash.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




Supplemental Disclosure - Three Months Ended June 30, 2014
Page 27




NEW LEASE NET EFFECTIVE RENT
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Twelve Months Ended
 
Three Months Ended
 
 
 
 
 
6/30/14
 
6/30/14
 
3/31/14
 
12/31/13
 
9/30/13
 
 
NEW LEASES
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average over lease term:
 
 
 
 
 
 
 
 
 
 
 
 
 
Base rent
 
$
14.43

 
$
13.00

 
$
15.81

 
$
15.84

 
$
13.73

 
 
 
TI/TA allowance
 
(1.95
)
 
(2.15
)
 
(2.10
)
 
(1.94
)
 
(1.63
)
 
 
 
Landlord work
 
(0.56
)
 
(0.37
)
 
(0.50
)
 
(0.71
)
 
(0.67
)
 
 
 
Third party leasing commissions
 
(0.35
)
 
(0.27
)
 
(0.38
)
 
(0.42
)
 
(0.37
)
 
 
 
Rent concessions
 
—

 
—

 
—

 
—

 
—

 
 
EQUIVALENT NET EFFECTIVE RENT
 
$
11.56

 
$
10.21

 
$
12.83

 
$
12.77

 
$
11.05

 
 
Net effective rent / base rent
 
80%

 
79%

 
81%

 
81%

 
81%

 
 
Weighted average term (years)
 
                              8.3

 
                              8.9

 
                               7.2

 
                              8.9

 
                               7.9

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PERCENT OF TOTAL EQUIVALENT NET EFFECTIVE RENT BY ANCHOR AND SMALL SHOP
 
 
 
 
 
 
 
≥ 10,000 SF
 
33%

 
38%

 
20%

 
33%

 
38%

 
 
 
< 10,000 SF
 
67%

 
62%

 
80%

 
67%

 
62%

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 



Supplemental Disclosure - Three Months Ended June 30, 2014
Page 28




ANCHOR SPACE REPOSITIONING SUMMARY
Dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
 
MSA
 
 
 
 
 
 
Description
 
 
 
IN PROCESS ANCHOR SPACE REPOSITIONINGS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1
Bakersfield Plaza
 
Bakersfield, CA
 
 
 
 
 
Remerchandise former CVS with a 29K SF Ross Dress for Less
 
 
2
Rose Pavilion
 
 
San Francisco-Oakland-Hayward, CA
 
 
Reconfigure former TGI Friday's outparcel with a 14K SF CVS with drive thru
 
 
3
Stratford Square
 
Bridgeport-Stamford-Norwalk, CT
 
 
Reconfigure former movie theatre with a 49K SF LA Fitness
 
 
4
The Manchester Collection
 
Hartford-West Hartford-East Hartford, CT
 
 
Remerchandise former Sports Authority with a 42K SF Hobby Lobby and reconfigure former Petco and ajacent vacancy with a 25K SF Ashley Furniture
 
 
5
Marketplace at Wycliffe
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
 
Remerchandise former Winn-Dixie with a 45K SF Walmart Neighborhood Market
 
 
6
Colonial Marketplace
 
Orlando-Kissimmee-Sanford, FL
 
 
 
Reconfigure former AC Moore and OfficeMax with a 60K SF Burlington Coat Factory
 
 
7
Pointe Orlando
 
 
Orlando-Kissimmee-Sanford, FL
 
 
 
Addition of a 7K SF Blue Martini Lounge, a 6K SF RA Sushi and a 3K SF Minus 5 Ice Bar
 
 
8
Mansell Crossing
 
Atlanta-Sandy Springs-Roswell, GA
 
 
Remerchandise former OfficeMax with a 24K SF REI
 
 
9
Westview Center
 
Chicago-Naperville-Elgin, IL-IN-WI
 
 
 
Relocation and expansion of existing Dollar Tree to 17K SF and rightsizing of Premiere Furniture to 12K SF to accommodate a 22K SF Sears Home Outlet
 
 
10
County Line Plaza
 
Jackson, MS
 
 
 
 
 
 
Remerchandise former Haverty's Furniture with a 43K SF Conn's
 
 
11
Hamilton Plaza-Kmart Plaza
 
Trenton, NJ
 
 
 
 
 
 
Reconfigure former Acme with a 19K SF Planet Fitness and a 13K SF Hibachi Grill
 
 
12
McMullen Creek Market
 
Charlotte-Concord-Gastonia, NC-SC
 
 
Reconfigure 25K SF Staples and adjacent vacant junior anchor with a 45K SF Walmart Neighborhood Market and relocate existing 6K SF Lebo's Footwear to enable rightsizing of Staples to 13K SF
 
 
13
Harpers Station
 
 
Cincinnati, OH-KY-IN
 
 
 
 
Remerchandise former Bova furniture with a 29K SF Fresh Thyme Farmers Market (Meijer) and combination of adjacent small shop vacancies for an 8K SF Pet Supplies Plus
 
 
14
Collegetown Shopping Center
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
Reconfigure former Acme with a 42K SF LA Fitness and an additional 5K SF of retail space
 
 
15
Pilgrim Gardens
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
Remerchandise former Loehmann's with a 22K SF Ross Dress for Less
 
 
16
Dillsburg Shopping Center
 
York-Hanover, PA
 
 
 
 
Reconfigure former Giant Food (Ahold) to accommodate a 38K SF Tractor Supply and a 7K SF freestanding Advanced Auto Parts
 
 
17
Kingston Overlook
 
Knoxville, TN
 
 
 
 
 
 
Remerchandise former American Signature Home with a 53K SF Sears Home Outlet
 
 
18
Five Points
 
 
Corpus Christi, TX
 
 
 
 
Remerchandise shopping center with the addition of a 23K SF Burke's Outlet, a 16K SF Party City, a 13K SF PETCO, a 26K SF Ross Dress for Less and the expansion of Beall's to a 35K SF prototype
 
 
19
Bardin Place Center
 
Dallas-Fort Worth-Arlington, TX
 
 
 
Reconfigure former Sports Authority and adjacent small shop space with an 86K SF WinCo Foods
 
 
20
Mequon Pavilions
 
Milwaukee-Waukesha-West Allis, WI
 
 
Combination of four adjacent small shop spaces for a 25K SF Marshalls and relocation of existing 5K SF Men's Wearhouse and 3K SF Fitness Together
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
COMPLETED ANCHOR SPACE REPOSITIONINGS - SIX MONTHS ENDED 6/30/14
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1
San Dimas Plaza
 
Los Angeles-Long Beach-Anaheim, CA
 
 
Addition of a 46K SF Smart & Final Extra! in former Ralphs (Kroger)
 
 
2
Westminster City Center
 
Denver-Aurora-Lakewood, CO
 
 
 
Reconfigure former Circuit City with a 26K SF Ross Dress for Less and a 23K SF Jo-Ann Fabrics and remerchandise vacant junior anchor with an 11K SF Ulta
 
 
3
University Commons
 
Greenville, NC
 
 
 
 
 
Remerchandise a 29K SF former Circuit City with a 14K SF Petco, a 9K SF Kirkland's and a 6K SF Sleepy's
 
 
4
Midway Market Square
 
Cleveland-Elyria, OH
 
 
 
 
Remerchandise former furniture store with a 26K SF Jo-Ann Fabric & Craft Store
 
 
5
South Towne Centre
 
Dayton, OH
 
 
 
 
 
 
Combination of five adjacent small shop spaces for a 14K SF OfficeMax
 
 
6
County Line Plaza
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
Rightsize existing 67K SF VF Outlet to 35K SF and demise remaining space for a 21K SF Bottom Dollar (Delhaize) and an additional retailer; remerchandise former Payless ShoeSource with a 4K SF Sherwin Williams and an existing outparcel with a 3K SF TD Bank
 
 
7
Hunting Hills
 
 
Roanoke, VA
 
 
 
 
 
 
Reconfigure former Walmart with a 101K SF Kohl’s and a 17K SF PetSmart and remerchandise small shop space with a 10K SF Dollar Tree and a 7K SF Rack Room Shoes
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2014 Anchor Space Repositionings:
 
 
 
 
 
 
 
 
 
 
Number of Projects
 
Expected Total
Project Costs
 
NOI Yield
 
 
 
 
 
 
 
 
In Process
20
 
$
58,703

 
13.3
%
 
 
 
 
 
 
 
 
Completed
7
 
26,207

 
13.6
%
 
 
 
 
 
 
 
 
TOTAL
27
 
$
84,910

 
13.4
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




Supplemental Disclosure - Three Months Ended June 30, 2014
Page 29




LEASE EXPIRATION SCHEDULE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL PORTFOLIO
 
SPACES > 10,000 SF
 
SPACES < 10,000 SF
 
 
 
 
 
 
Number of
 
 
 
Percent of
 
 
 
Percent
 
Number of
 
 
 
Percent of
 
 
 
Percent
 
Number of
 
 
 
Percent of
 
 
 
Percent
 
 
 
 
 
 
Leases
 
Leased GLA
 
Leased GLA
 
ABR / SF
 
of ABR
 
Leases
 
Leased GLA
 
Leased GLA
 
ABR / SF
 
of ABR
 
Leases
 
Leased GLA
 
Leased GLA
 
ABR / SF
 
of ABR
 
 
 
ASSUMES NO EXERCISE OF RENEWAL OPTIONS AND NO BASE RENT ESCALATIONS OVER LEASE TERM
 
 
Month to Month
309

 
826,570

 
1.0
%
 
$
13.22

 
1.2
%
 
8

 
148,851

 
0.3
%
 
$
7.07

 
0.2
%
 
301

 
677,719

 
3.2
%
 
$
14.57

 
2.5
%
 
 
 
 
2014
 
711

 
2,776,633

 
3.5
%
 
12.63

 
3.9
%
 
44

 
1,076,138

 
1.8
%
 
7.25

 
1.5
%
 
667

 
1,700,495

 
7.9
%
 
16.03

 
6.9
%
 
 
 
 
2015
 
1,611

 
11,294,252

 
14.1
%
 
10.66

 
13.3
%
 
258

 
7,888,576

 
13.4
%
 
7.85

 
12.2
%
 
1,353

 
3,405,676

 
15.9
%
 
17.17

 
14.8
%
 
 
 
 
2016
 
1,581

 
11,707,771

 
14.6
%
 
11.31

 
14.7
%
 
242

 
8,098,432

 
13.8
%
 
8.39

 
13.3
%
 
1,339

 
3,609,339

 
16.8
%
 
17.86

 
16.3
%
 
 
 
 
2017
 
1,496

 
10,409,075

 
13.0
%
 
11.95

 
13.8
%
 
229

 
7,093,181

 
12.1
%
 
8.71

 
12.1
%
 
1,267

 
3,315,894

 
15.5
%
 
18.88

 
15.9
%
 
 
 
 
2018
 
1,278

 
9,578,111

 
11.9
%
 
12.08

 
12.8
%
 
202

 
6,533,809

 
11.1
%
 
8.83

 
11.3
%
 
1,076

 
3,044,302

 
14.2
%
 
19.04

 
14.7
%
 
 
 
 
2019
 
952

 
9,027,786

 
11.2
%
 
10.89

 
10.9
%
 
201

 
6,791,893

 
11.5
%
 
8.32

 
11.1
%
 
751

 
2,235,893

 
10.4
%
 
18.71

 
10.6
%
 
 
 
 
2020
 
301

 
4,357,099

 
5.4
%
 
10.73

 
5.2
%
 
100

 
3,653,672

 
6.2
%
 
8.95

 
6.4
%
 
201

 
703,427

 
3.3
%
 
19.98

 
3.6
%
 
 
 
 
2021
 
241

 
3,290,047

 
4.1
%
 
11.06

 
4.0
%
 
87

 
2,726,969

 
4.6
%
 
9.39

 
5.0
%
 
154

 
563,078

 
2.6
%
 
19.15

 
2.7
%
 
 
 
 
2022
 
228

 
3,506,167

 
4.4
%
 
10.63

 
4.1
%
 
82

 
2,943,444

 
5.0
%
 
8.59

 
5.0
%
 
146

 
562,723

 
2.6
%
 
21.25

 
3.0
%
 
 
 
 
2023+
 
735

 
13,478,693

 
16.8
%
 
10.83

 
16.2
%
 
313

 
11,858,740

 
20.2
%
 
9.34

 
21.8
%
 
422

 
1,619,953

 
7.6
%
 
21.67

 
8.9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ASSUMES EXERCISE OF ALL RENEWAL OPTIONS AND ANY BASE RENT ESCALATIONS OVER LEASE TERM (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Month to Month
309

 
826,570

 
1.0
%
 
$
13.69

 
1.0
%
 
8

 
148,851

 
0.3
%
 
$
7.49

 
0.2
%
 
301

 
677,719

 
3.2
%
 
$
15.05

 
2.3
%
 
 
 
 
2014
 
550

 
1,820,000

 
2.3
%
 
12.57

 
1.9
%
 
23

 
563,363

 
1.0
%
 
5.08

 
0.4
%
 
527

 
1,256,637

 
5.9
%
 
15.92

 
4.6
%
 
 
 
 
2015
 
1,052

 
3,832,838

 
4.8
%
 
13.13

 
4.3
%
 
77

 
1,583,717

 
2.7
%
 
7.59

 
1.6
%
 
975

 
2,249,121

 
10.5
%
 
17.04

 
8.7
%
 
 
 
 
2016
 
944

 
3,553,249

 
4.4
%
 
13.74

 
4.2
%
 
63

 
1,483,367

 
2.5
%
 
7.75

 
1.6
%
 
881

 
2,069,882

 
9.7
%
 
18.04

 
8.5
%
 
 
 
 
2017
 
932

 
3,337,670

 
4.2
%
 
14.60

 
4.2
%
 
54

 
1,262,395

 
2.1
%
 
8.36

 
1.4
%
 
878

 
2,075,275

 
9.7
%
 
18.39

 
8.7
%
 
 
 
 
2018
 
695

 
2,409,188

 
3.0
%
 
16.57

 
3.4
%
 
45

 
872,939

 
1.5
%
 
11.78

 
1.4
%
 
650

 
1,536,249

 
7.2
%
 
19.30

 
6.7
%
 
 
 
 
2019
 
616

 
2,821,810

 
3.5
%
 
13.80

 
3.3
%
 
53

 
1,335,585

 
2.3
%
 
8.86

 
1.6
%
 
563

 
1,486,225

 
6.9
%
 
18.23

 
6.2
%
 
 
 
 
2020
 
386

 
2,408,453

 
3.0
%
 
13.07

 
2.7
%
 
53

 
1,475,778

 
2.5
%
 
9.25

 
1.9
%
 
333

 
932,675

 
4.4
%
 
19.12

 
4.1
%
 
 
 
 
2021
 
381

 
1,882,725

 
2.3
%
 
15.60

 
2.5
%
 
37

 
856,346

 
1.5
%
 
10.04

 
1.2
%
 
344

 
1,026,379

 
4.8
%
 
20.24

 
4.7
%
 
 
 
 
2022
 
388

 
1,877,039

 
2.3
%
 
16.16

 
2.6
%
 
44

 
852,833

 
1.5
%
 
9.92

 
1.2
%
 
344

 
1,024,206

 
4.8
%
 
21.35

 
5.0
%
 
 
 
 
2023+
 
3,190

 
55,482,662

 
69.1
%
 
14.79

 
70.0
%
 
1,309

 
48,378,531

 
82.3
%
 
13.28

 
87.6
%
 
1,881

 
7,104,131

 
33.1
%
 
25.10

 
40.6
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) ABR for leases whose future option rent is based on fair market value or CPI is reported as the ABR for the last year of the current lease term.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ABR/SF includes ground leases.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





Supplemental Disclosure - Three Months Ended June 30, 2014
Page 30




REDEVELOPMENT SUMMARY
 
 
 
 
 
 
 
 
 
Dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Construction
 
 Expected
 
 
 
 
 
 
 
 
 
 
Percent
 
Stabilization
 
Percent
 
 Total
 
NOI
 
 
Property Name
 
MSA
 
Project Description
 
Leased
 
Quarter
 
Complete
 
 Project Cost
 
Yield
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
IN PROCESS REDEVELOPMENTS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1
The Commons at Wolfcreek
 
Memphis, TN-MS-AR
 
Rightsizing of existing 50K SF Value City Furniture to 38K SF and remerchandise excess space and adjacent retail space with a 74K SF Academy Sports in a newly constructed building
 
93.9
%
 
Dec-14
 
56
%
 
$
7,862

 
10.8
%
 
 
TOTAL IN PROCESS REDEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE
 
 
 
 
 
 
 
$
7,862

 
10.8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
COMPLETED REDEVELOPMENTS - SIX MONTHS ENDED 6/30/14
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1
Florence Plaza - Florence Square
 
Cincinnati, OH-KY-IN
 
Redevelopment of former theatre and adjacent small shop space to accommodate a 124K SF Kroger Marketplace
 
97.0
%
 
Jun-14
 
100
%
 
$
6,604

 
10.0
%
 
2
Valley Crossing
 
Hickory-Lenoir-Morganton, NC
 
Redevelopment of north end of shopping center with a 71K SF Academy Sports, a 16K SF Harbor Freight Tools and one new junior anchor, as well as façade improvements
 
100.0
%
 
Jun-14
 
100
%
 
8,130

 
12.2
%
 
 
TOTAL COMPLETED REDEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE
 
 
 
 
 
 
 
14,734

 
11.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL REDEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE
 
 
 
 
 
 
 
$
22,595

 
11.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





Supplemental Disclosure - Three Months Ended June 30, 2014
Page 31




PROPERTIES BY LARGEST US MSAs
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent of
 
 
 
 
 
 
 
 
 
 
 
Number of
 
 
 
Percent
 
Percent
 
 
 
 
 
Number of
 
Percent
 
Percent
 
 
 
Largest US MSAs by 2012 Population
 
 
 
Properties
 
GLA
 
Leased
 
Billed
 
 ABR
 
 ABR / SF
 
Properties
 
of GLA
 
of ABR
 
 
1
New York-Newark-Jersey City, NY-NJ-PA
 
 
 
30

 
3,638,368

 
93.9
%
 
92.2
%
 
$
59,831

 
$
18.25

 
5.7
%
 
4.2
%
 
6.6
%
 
 
2
Los Angeles-Long Beach-Anaheim, CA
 
 
 
9

 
1,684,935

 
98.5
%
 
98.1
%
 
27,513

 
16.97

 
1.7
%
 
1.9
%
 
3.0
%
 
 
3
Chicago-Naperville-Elgin, IL-IN-WI
 
 
 
16

 
3,955,369

 
91.6
%
 
90.0
%
 
43,031

 
12.43

 
3.1
%
 
4.6
%
 
4.8
%
 
 
4
Dallas-Fort Worth-Arlington, TX
 
 
 
16

 
2,977,123

 
93.4
%
 
89.9
%
 
39,532

 
14.61

 
3.1
%
 
3.4
%
 
4.4
%
 
 
5
Houston-The Woodlands-Sugar Land, TX
 
 
 
38

 
4,657,292

 
95.2
%
 
94.3
%
 
47,096

 
10.96

 
7.3
%
 
5.4
%
 
5.2
%
 
 
6
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
 
27

 
4,200,721

 
94.6
%
 
91.4
%
 
53,180

 
15.06

 
5.2
%
 
4.8
%
 
5.9
%
 
 
7
Washington-Arlington-Alexandria, DC-VA-MD-WV
 
 
3

 
451,260

 
97.1
%
 
96.5
%
 
4,595

 
10.49

 
0.6
%
 
0.5
%
 
0.5
%
 
 
8
Miami-Fort Lauderdale-West Palm Beach, FL
 
 
 
10

 
1,729,738

 
84.5
%
 
82.4
%
 
19,088

 
13.62

 
1.9
%
 
2.0
%
 
2.1
%
 
 
9
Atlanta-Sandy Springs-Roswell, GA
 
 
 
24

 
3,587,684

 
91.6
%
 
88.3
%
 
33,463

 
10.30

 
4.6
%
 
4.1
%
 
3.7
%
 
 
10
Boston-Cambridge-Newton, MA-NH
 
 
 
5

 
536,315

 
92.8
%
 
91.3
%
 
6,238

 
12.54

 
1.0
%
 
0.6
%
 
0.7
%
 
 
 
Top 10 Largest US MSAs by Population
 
 
 
178

 
27,418,805

 
93.2
%
 
91.2
%
 
333,568

 
13.62

 
34.1
%
 
31.6
%
 
36.9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11
San Francisco-Oakland-Hayward, CA
 
 
 
2

 
476,369

 
93.8
%
 
90.5
%
 
8,484

 
25.18

 
0.4
%
 
0.5
%
 
0.9
%
 
 
12
Riverside-San Bernardino-Ontario, CA
 
 
 
4

 
537,795

 
93.8
%
 
92.3
%
 
6,238

 
12.45

 
0.8
%
 
0.6
%
 
0.7
%
 
 
13
Phoenix-Mesa-Scottsdale, AZ
 
 
 
1

 
119,525

 
77.7
%
 
77.7
%
 
574

 
6.19

 
0.2
%
 
0.1
%
 
0.1
%
 
 
14
Detroit-Warren-Dearborn, MI
 
 
 
9

 
1,633,818

 
92.0
%
 
89.8
%
 
15,879

 
11.38

 
1.7
%
 
1.9
%
 
1.8
%
 
 
15
Seattle-Tacoma-Bellevue, WA
 
 
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
16
Minneapolis-St. Paul-Bloomington, MN-WI
 
 
 
8

 
1,191,459

 
89.5
%
 
89.2
%
 
12,460

 
12.45

 
1.5
%
 
1.4
%
 
1.4
%
 
 
17
San Diego-Carlsbad, CA
 
 
 
2

 
505,814

 
98.1
%
 
97.9
%
 
8,984

 
18.75

 
0.4
%
 
0.6
%
 
1.0
%
 
 
18
Tampa-St. Petersburg-Clearwater, FL
 
 
 
15

 
2,388,002

 
93.5
%
 
92.4
%
 
25,714

 
12.15

 
2.9
%
 
2.8
%
 
2.8
%
 
 
19
St. Louis, MO-IL
 
 
 
4

 
670,045

 
90.3
%
 
88.9
%
 
4,905

 
8.68

 
0.8
%
 
0.8
%
 
0.5
%
 
 
20
Baltimore-Columbia-Towson, MD
 
 
 
1

 
219,862

 
99.5
%
 
99.5
%
 
2,673

 
12.21

 
0.2
%
 
0.3
%
 
0.3
%
 
 
 
Top 20 Largest US MSAs by Population
 
 
 
224

 
35,161,494

 
93.1
%
 
91.2
%
 
419,481

 
13.45

 
42.9
%
 
40.5
%
 
46.4
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
21
Denver-Aurora-Lakewood, CO
 
 
 
5

 
1,199,934

 
95.9
%
 
89.5
%
 
13,556

 
12.12

 
1.0
%
 
1.4
%
 
1.5
%
 
 
22
Pittsburgh, PA
 
 
 
1

 
218,714

 
95.7
%
 
95.7
%
 
1,613

 
8.50

 
0.2
%
 
0.3
%
 
0.2
%
 
 
23
Charlotte-Concord-Gastonia, NC-SC
 
 
 
7

 
1,833,407

 
87.4
%
 
85.3
%
 
14,150

 
9.65

 
1.3
%
 
2.1
%
 
1.6
%
 
 
24
Portland-Vancouver-Hillsboro, OR-WA
 
 
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
25
San Antonio-New Braunfels, TX
 
 
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
26
Orlando-Kissimmee-Sanford, FL
 
 
 
7

 
996,539

 
91.0
%
 
83.5
%
 
14,423

 
16.29

 
1.3
%
 
1.1
%
 
1.6
%
 
 
27
Sacramento--Roseville--Arden-Arcade, CA
 
 
 
1

 
103,695

 
100.0
%
 
95.2
%
 
1,959

 
18.89

 
0.2
%
 
0.1
%
 
0.2
%
 
 
28
Cincinnati, OH-KY-IN
 
 
 
7

 
1,869,781

 
96.9
%
 
93.6
%
 
19,209

 
12.29

 
1.3
%
 
2.2
%
 
2.1
%
 
 
29
Cleveland-Elyria, OH
 
 
 
7

 
1,450,837

 
92.0
%
 
91.4
%
 
14,350

 
10.76

 
1.3
%
 
1.7
%
 
1.6
%
 
 
30
Kansas City, MO-KS
 
 
 
4

 
611,786

 
88.3
%
 
88.1
%
 
4,206

 
7.92

 
0.8
%
 
0.7
%
 
0.5
%
 
 
31
Las Vegas-Henderson-Paradise, NV
 
 
 
3

 
609,661

 
90.4
%
 
90.1
%
 
7,654

 
13.89

 
0.6
%
 
0.7
%
 
0.8
%
 
 
32
Columbus, OH
 
 
 
4

 
447,211

 
83.4
%
 
80.5
%
 
3,606

 
10.21

 
0.8
%
 
0.5
%
 
0.4
%
 
 
33
Indianapolis-Carmel-Anderson, IN
 
 
 
4

 
883,549

 
86.3
%
 
84.9
%
 
6,042

 
8.13

 
0.8
%
 
1.0
%
 
0.7
%
 
 
34
San Jose-Sunnyvale-Santa Clara, CA
 
 
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
35
Austin-Round Rock, TX
 
 
 
1

 
168,112

 
96.4
%
 
96.4
%
 
1,266

 
7.81

 
0.2
%
 
0.2
%
 
0.1
%
 
 
36
Nashville-Davidson--Murfreesboro--Franklin, TN
 
 
 
7

 
1,277,886

 
88.7
%
 
87.8
%
 
10,963

 
9.76

 
1.3
%
 
1.5
%
 
1.2
%
 
 
37
Virginia Beach-Norfolk-Newport News, VA-NC
 
 
 
2

 
205,245

 
99.6
%
 
98.7
%
 
3,331

 
16.41

 
0.4
%
 
0.2
%
 
0.4
%
 
 
38
Providence-Warwick, RI-MA
 
 
 
1

 
148,126

 
99.1
%
 
96.4
%
 
1,470

 
10.02

 
0.2
%
 
0.2
%
 
0.2
%
 
 
39
Milwaukee-Waukesha-West Allis, WI
 
 
 
4

 
714,529

 
90.4
%
 
87.9
%
 
6,441

 
9.97

 
0.8
%
 
0.8
%
 
0.7
%
 


Supplemental Disclosure - Three Months Ended June 30, 2014
Page 32




PROPERTIES BY LARGEST US MSAs
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent of
 
 
 
 
 
 
 
 
 
 
 
Number of
 
 
 
Percent
 
Percent
 
 
 
 
 
Number of
 
Percent
 
Percent
 
 
 
Largest US MSAs by 2012 Population
 
 
 
Properties
 
GLA
 
Leased
 
Billed
 
 ABR
 
 ABR / SF
 
Properties
 
of GLA
 
of ABR
 
 
40
Jacksonville, FL
 
 
 
5

 
827,528

 
81.3
%
 
81.0
%
 
8,281

 
12.40

 
1.0
%
 
1.0
%
 
0.9
%
 
 
41
Memphis, TN-MS-AR
 
 
 
1

 
658,121

 
93.9
%
 
82.7
%
 
7,455

 
12.28

 
0.2
%
 
0.8
%
 
0.8
%
 
 
42
Oklahoma City, OK
 
 
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
43
Louisville/Jefferson County, KY-IN
 
 
 
4

 
684,607

 
90.3
%
 
88.8
%
 
6,141

 
10.24

 
0.8
%
 
0.8
%
 
0.7
%
 
 
44
Richmond, VA
 
 
 
2

 
215,897

 
94.4
%
 
92.2
%
 
2,575

 
12.63

 
0.4
%
 
0.2
%
 
0.3
%
 
 
45
New Orleans-Metairie, LA
 
 
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
46
Hartford-West Hartford-East Hartford, CT
 
 
 
4

 
897,262

 
93.6
%
 
88.7
%
 
11,099

 
15.79

 
0.8
%
 
1.0
%
 
1.2
%
 
 
47
Raleigh, NC
 
 
 
2

 
291,038

 
95.9
%
 
94.1
%
 
3,512

 
15.28

 
0.4
%
 
0.3
%
 
0.4
%
 
 
48
Birmingham-Hoover, AL
 
 
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
49
Buffalo-Cheektowaga-Niagara Falls, NY
 
 
 
1

 
93,144

 
97.9
%
 
97.9
%
 
1,257

 
13.80

 
0.2
%
 
0.1
%
 
0.1
%
 
 
50
Salt Lake City, UT
 
 
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
 
Top 50 Largest US MSAs by Population
 
 
 
308

 
51,568,103

 
92.5
%
 
90.3
%
 
584,042

 
12.86

 
59.0
%
 
59.4
%
 
64.6
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
MSAs Ranked 51 - 100 by Population
 
 
 
68

 
11,821,287

 
90.8
%
 
88.6
%
 
111,716

 
11.30

 
13.0
%
 
13.6
%
 
12.4
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other MSAs
 
 
 
146

 
23,375,103

 
93.3
%
 
92.0
%
 
207,665

 
10.54

 
28.0
%
 
26.9
%
 
23.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL
 
 
 
522

 
86,764,493

 
92.5
%
 
90.5
%
 
$
903,423

 
$
12.04

 
100.0
%
 
100.0
%
 
100.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





Supplemental Disclosure - Three Months Ended June 30, 2014
Page 33




LARGEST MSAs BY ABR
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent of
 
 
 
 
 
 
 
 
 
 
 
Number of
 
 
 
Percent
 
Percent
 
 
 
 
 
Number of
 
Percent
 
Percent
 
 
 
Largest MSAs by ABR
 
MSA Rank
 
Properties
 
GLA
 
Leased
 
Billed
 
 ABR
 
 ABR / SF
 
Properties
 
of GLA
 
of ABR
 
 
1
New York-Newark-Jersey City, NY-NJ-PA
 
1
 
30

 
3,638,368

 
93.9
%
 
92.2
%
 
$
59,831

 
$
18.25

 
5.7
%
 
4.2
%
 
6.6
%
 
 
2
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
6
 
27

 
4,200,721

 
94.6
%
 
91.4
%
 
53,180

 
15.06

 
5.2
%
 
4.8
%
 
5.9
%
 
 
3
Houston-The Woodlands-Sugar Land, TX
 
5
 
38

 
4,657,292

 
95.2
%
 
94.3
%
 
47,096

 
10.96

 
7.3
%
 
5.4
%
 
5.2
%
 
 
4
Chicago-Naperville-Elgin, IL-IN-WI
 
3
 
16

 
3,955,369

 
91.6
%
 
90.0
%
 
43,031

 
12.43

 
3.1
%
 
4.6
%
 
4.8
%
 
 
5
Dallas-Fort Worth-Arlington, TX
 
4
 
16

 
2,977,123

 
93.4
%
 
89.9
%
 
39,532

 
14.61

 
3.1
%
 
3.4
%
 
4.4
%
 
 
6
Atlanta-Sandy Springs-Roswell, GA
 
9
 
24

 
3,587,684

 
91.6
%
 
88.3
%
 
33,463

 
10.30

 
4.6
%
 
4.1
%
 
3.7
%
 
 
7
Los Angeles-Long Beach-Anaheim, CA
 
2
 
9

 
1,684,935

 
98.5
%
 
98.1
%
 
27,513

 
16.97

 
1.7
%
 
1.9
%
 
3.0
%
 
 
8
Tampa-St. Petersburg-Clearwater, FL
 
18
 
15

 
2,388,002

 
93.5
%
 
92.4
%
 
25,714

 
12.15

 
2.9
%
 
2.8
%
 
2.8
%
 
 
9
Cincinnati, OH-KY-IN
 
28
 
7

 
1,869,781

 
96.9
%
 
93.6
%
 
19,209

 
12.29

 
1.3
%
 
2.2
%
 
2.1
%
 
 
10
Miami-Fort Lauderdale-West Palm Beach, FL
 
8
 
10

 
1,729,738

 
84.5
%
 
82.4
%
 
19,088

 
13.62

 
1.9
%
 
2.0
%
 
2.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
10 Largest MSAs by ABR
 
—
 
192

 
30,689,013

 
93.4
%
 
91.3
%
 
367,657

 
13.50

 
36.8
%
 
35.4
%
 
40.7
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11
Detroit-Warren-Dearborn, MI
 
14
 
9

 
1,633,818

 
92.0
%
 
89.8
%
 
15,879

 
11.38

 
1.7
%
 
1.9
%
 
1.8
%
 
 
12
Orlando-Kissimmee-Sanford, FL
 
26
 
7

 
996,539

 
91.0
%
 
83.5
%
 
14,423

 
16.29

 
1.3
%
 
1.1
%
 
1.6
%
 
 
13
Cleveland-Elyria, OH
 
29
 
7

 
1,450,837

 
92.0
%
 
91.4
%
 
14,350

 
10.76

 
1.3
%
 
1.7
%
 
1.6
%
 
 
14
Charlotte-Concord-Gastonia, NC-SC
 
23
 
7

 
1,833,407

 
87.4
%
 
85.3
%
 
14,150

 
9.65

 
1.3
%
 
2.1
%
 
1.6
%
 
 
15
Denver-Aurora-Lakewood, CO
 
21
 
5

 
1,199,934

 
95.9
%
 
89.5
%
 
13,556

 
12.12

 
1.0
%
 
1.4
%
 
1.5
%
 
 
16
Allentown-Bethlehem-Easton, PA-NJ
 
68
 
5

 
1,298,479

 
97.6
%
 
96.4
%
 
13,247

 
11.11

 
1.0
%
 
1.5
%
 
1.5
%
 
 
17
Minneapolis-St. Paul-Bloomington, MN-WI
 
16
 
8

 
1,191,459

 
89.5
%
 
89.2
%
 
12,460

 
12.45

 
1.5
%
 
1.4
%
 
1.4
%
 
 
18
Hartford-West Hartford-East Hartford, CT
 
46
 
4

 
897,262

 
93.6
%
 
88.7
%
 
11,099

 
15.79

 
0.8
%
 
1.0
%
 
1.2
%
 
 
19
Nashville-Davidson--Murfreesboro--Franklin, TN
 
36
 
7

 
1,277,886

 
88.7
%
 
87.8
%
 
10,963

 
9.76

 
1.3
%
 
1.5
%
 
1.2
%
 
 
20
Oxnard-Thousand Oaks-Ventura, CA
 
66
 
3

 
677,512

 
97.4
%
 
96.9
%
 
10,305

 
15.85

 
0.6
%
 
0.8
%
 
1.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
20 Largest MSAs by ABR
 
—
 
254

 
43,146,146

 
93.0
%
 
90.8
%
 
498,090

 
13.07

 
48.7
%
 
49.7
%
 
55.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
21
Binghamton, NY
 
185
 
4

 
751,106

 
98.9
%
 
98.9
%
 
9,616

 
12.95

 
0.8
%
 
0.9
%
 
1.1
%
 
 
22
Naples-Immokalee-Marco Island, FL
 
150
 
4

 
755,309

 
98.0
%
 
96.3
%
 
9,228

 
12.53

 
0.8
%
 
0.9
%
 
1.0
%
 
 
23
San Diego-Carlsbad, CA
 
17
 
2

 
505,814

 
98.1
%
 
97.9
%
 
8,984

 
18.75

 
0.4
%
 
0.6
%
 
1.0
%
 
 
24
San Francisco-Oakland-Hayward, CA
 
11
 
2

 
476,369

 
93.8
%
 
90.5
%
 
8,484

 
25.18

 
0.4
%
 
0.5
%
 
0.9
%
 
 
25
Jacksonville, FL
 
40
 
5

 
827,528

 
81.3
%
 
81.0
%
 
8,281

 
12.40

 
1.0
%
 
1.0
%
 
0.9
%
 
 
26
Las Vegas-Henderson-Paradise, NV
 
31
 
3

 
609,661

 
90.4
%
 
90.1
%
 
7,654

 
13.89

 
0.6
%
 
0.7
%
 
0.8
%
 
 
27
Vallejo-Fairfield, CA
 
123
 
1

 
490,407

 
97.9
%
 
97.5
%
 
7,606

 
15.91

 
0.2
%
 
0.6
%
 
0.8
%
 
 
28
Memphis, TN-MS-AR
 
41
 
1

 
658,121

 
93.9
%
 
82.7
%
 
7,455

 
12.28

 
0.2
%
 
0.8
%
 
0.8
%
 
 
29
New Haven-Milford, CT
 
62
 
6

 
572,225

 
91.5
%
 
85.4
%
 
7,320

 
13.99

 
1.1
%
 
0.7
%
 
0.8
%
 
 
30
Fresno, CA
 
56
 
2

 
436,334

 
97.8
%
 
93.3
%
 
7,157

 
16.78

 
0.4
%
 
0.5
%
 
0.8
%
 
 
31
Norwich-New London, CT
 
170
 
2

 
433,602

 
98.8
%
 
97.7
%
 
6,947

 
16.22

 
0.4
%
 
0.5
%
 
0.8
%
 
 
32
Port St. Lucie, FL
 
117
 
5

 
637,470

 
80.8
%
 
80.7
%
 
6,872

 
13.33

 
1.0
%
 
0.7
%
 
0.8
%
 
 
33
Milwaukee-Waukesha-West Allis, WI
 
39
 
4

 
714,529

 
90.4
%
 
87.9
%
 
6,441

 
9.97

 
0.8
%
 
0.8
%
 
0.7
%
 
 
34
Boston-Cambridge-Newton, MA-NH
 
10
 
5

 
536,315

 
92.8
%
 
91.3
%
 
6,238

 
12.54

 
1.0
%
 
0.6
%
 
0.7
%
 
 
35
Riverside-San Bernardino-Ontario, CA
 
12
 
4

 
537,795

 
93.8
%
 
92.3
%
 
6,238

 
12.45

 
0.8
%
 
0.6
%
 
0.7
%
 
 
36
Worcester, MA-CT
 
58
 
4

 
587,448

 
84.7
%
 
83.1
%
 
6,179

 
12.41

 
0.8
%
 
0.7
%
 
0.7
%
 
 
37
Louisville/Jefferson County, KY-IN
 
43
 
4

 
684,607

 
90.3
%
 
88.8
%
 
6,141

 
10.24

 
0.8
%
 
0.8
%
 
0.7
%
 
 
38
Indianapolis-Carmel-Anderson, IN
 
33
 
4

 
883,549

 
86.3
%
 
84.9
%
 
6,042

 
8.13

 
0.8
%
 
1.0
%
 
0.7
%
 


Supplemental Disclosure - Three Months Ended June 30, 2014
Page 34




LARGEST MSAs BY ABR
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent of
 
 
 
 
 
 
 
 
 
 
 
Number of
 
 
 
Percent
 
Percent
 
 
 
 
 
Number of
 
Percent
 
Percent
 
 
 
Largest MSAs by ABR
 
MSA Rank
 
Properties
 
GLA
 
Leased
 
Billed
 
 ABR
 
 ABR / SF
 
Properties
 
of GLA
 
of ABR
 
 
39
Scranton--Wilkes-Barre--Hazleton, PA
 
94
 
2

 
609,072

 
100.0
%
 
96.1
%
 
5,204

 
18.95

 
0.4
%
 
0.7
%
 
0.6
%
 
 
40
Springfield, MA
 
85
 
3

 
456,737

 
95.7
%
 
95.7
%
 
4,982

 
13.45

 
0.6
%
 
0.5
%
 
0.6
%
 
 
41
Ann Arbor, MI
 
147
 
3

 
663,535

 
96.6
%
 
89.7
%
 
4,963

 
7.74

 
0.6
%
 
0.8
%
 
0.5
%
 
 
42
St. Louis, MO-IL
 
19
 
4

 
670,045

 
90.3
%
 
88.9
%
 
4,905

 
8.68

 
0.8
%
 
0.8
%
 
0.5
%
 
 
43
College Station-Bryan, TX
 
190
 
4

 
491,763

 
94.3
%
 
93.0
%
 
4,887

 
15.19

 
0.8
%
 
0.6
%
 
0.5
%
 
 
44
Wilmington, NC
 
175
 
2

 
379,107

 
95.7
%
 
95.7
%
 
4,827

 
13.45

 
0.4
%
 
0.4
%
 
0.5
%
 
 
45
Dayton, OH
 
71
 
3

 
532,521

 
94.1
%
 
94.1
%
 
4,765

 
11.76

 
0.6
%
 
0.6
%
 
0.5
%
 
 
46
Winston-Salem, NC
 
81
 
3

 
438,898

 
93.0
%
 
90.7
%
 
4,748

 
12.01

 
0.6
%
 
0.5
%
 
0.5
%
 
 
47
North Port-Sarasota-Bradenton, FL
 
74
 
4

 
556,862

 
90.8
%
 
90.6
%
 
4,622

 
9.22

 
0.8
%
 
0.6
%
 
0.5
%
 
 
48
Washington-Arlington-Alexandria, DC-VA-MD-WV
7
 
3

 
451,260

 
97.1
%
 
96.5
%
 
4,595

 
10.49

 
0.6
%
 
0.5
%
 
0.5
%
 
 
49
Greensboro-High Point, NC
 
73
 
1

 
406,768

 
96.9
%
 
96.9
%
 
4,487

 
11.38

 
0.2
%
 
0.5
%
 
0.5
%
 
 
50
Corpus Christi, TX
 
115
 
4

 
565,070

 
84.0
%
 
82.9
%
 
4,458

 
11.50

 
0.8
%
 
0.7
%
 
0.5
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
50 Largest MSAs by ABR
 
—
 
352

 
60,465,973

 
92.9
%
 
90.7
%
 
688,420

 
12.96

 
67.4
%
 
69.7
%
 
76.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
51
Kansas City, MO-KS
 
30
 
4

 
611,786

 
88.3
%
 
88.1
%
 
4,206

 
7.92

 
0.8
%
 
0.7
%
 
0.5
%
 
 
52
Manchester-Nashua, NH
 
131
 
2

 
348,189

 
100.0
%
 
100.0
%
 
4,110

 
18.83

 
0.4
%
 
0.4
%
 
0.5
%
 
 
53
Mobile, AL
 
127
 
1

 
611,972

 
90.2
%
 
90.2
%
 
3,994

 
7.34

 
0.2
%
 
0.7
%
 
0.4
%
 
 
54
Pittsfield, MA
 
312
 
1

 
442,578

 
99.9
%
 
99.9
%
 
3,795

 
19.50

 
0.2
%
 
0.5
%
 
0.4
%
 
 
55
Columbus, OH
 
32
 
4

 
447,211

 
83.4
%
 
80.5
%
 
3,606

 
10.21

 
0.8
%
 
0.5
%
 
0.4
%
 
 
56
Boulder, CO
 
161
 
1

 
278,790

 
82.8
%
 
81.6
%
 
3,596

 
15.57

 
0.2
%
 
0.3
%
 
0.4
%
 
 
57
Roanoke, VA
 
159
 
4

 
522,010

 
95.6
%
 
94.9
%
 
3,526

 
8.01

 
0.8
%
 
0.6
%
 
0.4
%
 
 
58
Raleigh, NC
 
47
 
2

 
291,038

 
95.9
%
 
94.1
%
 
3,512

 
15.28

 
0.4
%
 
0.3
%
 
0.4
%
 
 
59
Virginia Beach-Norfolk-Newport News, VA-NC
 
37
 
2

 
205,245

 
99.6
%
 
98.7
%
 
3,331

 
16.41

 
0.4
%
 
0.2
%
 
0.4
%
 
 
60
Panama City, FL
 
225
 
2

 
397,512

 
97.8
%
 
97.8
%
 
3,266

 
8.40

 
0.4
%
 
0.5
%
 
0.4
%
 
 
61
Bakersfield, CA
 
63
 
1

 
240,328

 
99.9
%
 
86.3
%
 
3,221

 
13.66

 
0.2
%
 
0.3
%
 
0.4
%
 
 
62
Saginaw, MI
 
217
 
2

 
469,478

 
83.5
%
 
83.5
%
 
3,173

 
10.39

 
0.4
%
 
0.5
%
 
0.4
%
 
 
63
Jackson, MS
 
92
 
3

 
406,316

 
78.5
%
 
78.5
%
 
3,151

 
10.02

 
0.6
%
 
0.5
%
 
0.3
%
 
 
64
Atlantic City-Hammonton, NJ
 
167
 
1

 
179,199

 
99.1
%
 
94.5
%
 
3,145

 
17.71

 
0.2
%
 
0.2
%
 
0.3
%
 
 
65
Spartanburg, SC
 
153
 
1

 
385,609

 
79.3
%
 
73.4
%
 
3,125

 
10.88

 
0.2
%
 
0.4
%
 
0.3
%
 
 
66
Charleston-North Charleston, SC
 
78
 
3

 
556,809

 
82.0
%
 
75.9
%
 
3,098

 
6.84

 
0.6
%
 
0.6
%
 
0.3
%
 
 
67
Greenville-Anderson-Mauldin, SC
 
65
 
2

 
220,723

 
95.3
%
 
95.3
%
 
3,018

 
14.35

 
0.4
%
 
0.3
%
 
0.3
%
 
 
68
Greenville, NC
 
236
 
1

 
233,153

 
98.7
%
 
98.7
%
 
2,957

 
12.84

 
0.2
%
 
0.3
%
 
0.3
%
 
 
69
Hilton Head Island-Bluffton-Beaufort, SC
 
220
 
2

 
231,852

 
93.7
%
 
93.1
%
 
2,875

 
13.24

 
0.4
%
 
0.3
%
 
0.3
%
 
 
70
Elkhart-Goshen, IN
 
216
 
2

 
445,534

 
98.1
%
 
95.9
%
 
2,858

 
6.54

 
0.4
%
 
0.5
%
 
0.3
%
 
 
71
Lexington-Fayette, KY
 
106
 
2

 
414,960

 
95.1
%
 
95.1
%
 
2,821

 
7.14

 
0.4
%
 
0.5
%
 
0.3
%
 
 
72
Toledo, OH
 
89
 
2

 
609,066

 
74.4
%
 
74.4
%
 
2,792

 
6.16

 
0.4
%
 
0.7
%
 
0.3
%
 
 
73
Tullahoma-Manchester, TN
 
377
 
3

 
433,744

 
96.2
%
 
93.4
%
 
2,785

 
6.67

 
0.6
%
 
0.5
%
 
0.3
%
 
 
74
Odessa, TX
 
288
 
1

 
365,559

 
100.0
%
 
100.0
%
 
2,730

 
11.95

 
0.2
%
 
0.4
%
 
0.3
%
 
 
75
Baltimore-Columbia-Towson, MD
 
20
 
1

 
219,862

 
99.5
%
 
99.5
%
 
2,673

 
12.21

 
0.2
%
 
0.3
%
 
0.3
%
 
 
76
Traverse City, MI
 
285
 
1

 
412,755

 
96.9
%
 
96.9
%
 
2,646

 
27.57

 
0.2
%
 
0.5
%
 
0.3
%
 
 
77
Portland-South Portland, ME
 
104
 
2

 
391,746

 
92.7
%
 
92.7
%
 
2,598

 
13.34

 
0.4
%
 
0.5
%
 
0.3
%
 
 
78
Richmond, VA
 
44
 
2

 
215,897

 
94.4
%
 
92.2
%
 
2,575

 
12.63

 
0.4
%
 
0.2
%
 
0.3
%
 


Supplemental Disclosure - Three Months Ended June 30, 2014
Page 35




LARGEST MSAs BY ABR
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent of
 
 
 
 
 
 
 
 
 
 
 
Number of
 
 
 
Percent
 
Percent
 
 
 
 
 
Number of
 
Percent
 
Percent
 
 
 
Largest MSAs by ABR
 
MSA Rank
 
Properties
 
GLA
 
Leased
 
Billed
 
 ABR
 
 ABR / SF
 
Properties
 
of GLA
 
of ABR
 
 
79
Blacksburg-Christiansburg-Radford, VA
 
231
 
1

 
180,220

 
99.5
%
 
97.7
%
 
2,482

 
14.08

 
0.2
%
 
0.2
%
 
0.3
%
 
 
80
Savannah, GA
 
145
 
2

 
210,557

 
86.5
%
 
86.5
%
 
2,476

 
13.82

 
0.4
%
 
0.2
%
 
0.3
%
 
 
81
Des Moines-West Des Moines, IA
 
91
 
2

 
511,277

 
83.9
%
 
83.9
%
 
2,466

 
6.96

 
0.4
%
 
0.6
%
 
0.3
%
 
 
82
Lafayette, LA
 
108
 
3

 
433,329

 
94.0
%
 
94.0
%
 
2,459

 
6.03

 
0.6
%
 
0.5
%
 
0.3
%
 
 
83
Lancaster, PA
 
101
 
3

 
236,006

 
95.1
%
 
95.1
%
 
2,375

 
10.59

 
0.6
%
 
0.3
%
 
0.3
%
 
 
84
Chattanooga, TN-GA
 
99
 
2

 
339,426

 
95.2
%
 
95.2
%
 
2,357

 
7.91

 
0.4
%
 
0.4
%
 
0.3
%
 
 
85
Fort Wayne, IN
 
122
 
2

 
254,094

 
79.5
%
 
77.3
%
 
2,332

 
13.54

 
0.4
%
 
0.3
%
 
0.3
%
 
 
86
Dover, DE
 
245
 
1

 
191,974

 
100.0
%
 
98.3
%
 
2,252

 
11.73

 
0.2
%
 
0.2
%
 
0.2
%
 
 
87
Merced, CA
 
176
 
1

 
144,444

 
93.3
%
 
86.4
%
 
2,080

 
15.43

 
0.2
%
 
0.2
%
 
0.2
%
 
 
88
Corning, NY
 
379
 
1

 
253,335

 
100.0
%
 
98.5
%
 
2,075

 
8.19

 
0.2
%
 
0.3
%
 
0.2
%
 
 
89
Durham-Chapel Hill, NC
 
102
 
2

 
182,828

 
95.7
%
 
95.7
%
 
2,019

 
11.95

 
0.4
%
 
0.2
%
 
0.2
%
 
 
90
Davenport-Moline-Rock Island, IA-IL
 
135
 
3

 
290,643

 
92.8
%
 
92.8
%
 
1,998

 
7.41

 
0.6
%
 
0.3
%
 
0.2
%
 
 
91
Sacramento--Roseville--Arden-Arcade, CA
 
27
 
1

 
103,695

 
100.0
%
 
95.2
%
 
1,959

 
18.89

 
0.2
%
 
0.1
%
 
0.2
%
 
 
92
Hickory-Lenoir-Morganton, NC
 
144
 
2

 
295,970

 
79.1
%
 
69.3
%
 
1,953

 
8.35

 
0.4
%
 
0.3
%
 
0.2
%
 
 
93
Altoona, PA
 
319
 
1

 
279,746

 
91.8
%
 
89.6
%
 
1,915

 
7.46

 
0.2
%
 
0.3
%
 
0.2
%
 
 
94
Santa Maria-Santa Barbara, CA
 
119
 
1

 
179,495

 
96.4
%
 
96.4
%
 
1,903

 
11.89

 
0.2
%
 
0.2
%
 
0.2
%
 
 
95
York-Hanover, PA
 
114
 
1

 
153,088

 
100.0
%
 
95.5
%
 
1,903

 
12.66

 
0.2
%
 
0.2
%
 
0.2
%
 
 
96
Concord, NH
 
282
 
1

 
182,887

 
100.0
%
 
100.0
%
 
1,895

 
10.61

 
0.2
%
 
0.2
%
 
0.2
%
 
 
97
Rutland, VT
 
519
 
1

 
224,514

 
97.7
%
 
97.7
%
 
1,879

 
8.57

 
0.2
%
 
0.3
%
 
0.2
%
 
 
98
Duluth, MN-WI
 
166
 
1

 
182,969

 
98.6
%
 
97.6
%
 
1,858

 
10.30

 
0.2
%
 
0.2
%
 
0.2
%
 
 
99
Rochester, NY
 
51
 
1

 
191,314

 
100.0
%
 
92.8
%
 
1,840

 
9.89

 
0.2
%
 
0.2
%
 
0.2
%
 
 
##
Springfield, IL
 
206
 
2

 
178,644

 
93.0
%
 
91.3
%
 
1,807

 
10.88

 
0.4
%
 
0.2
%
 
0.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
100 Largest MSAs by ABR
 
—
 
442

 
76,255,349

 
92.6
%
 
90.6
%
 
823,886

 
12.44

 
84.7
%
 
87.9
%
 
91.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other MSAs
 
—
 
80

 
10,509,144

 
91.4
%
 
89.8
%
 
79,538

 
9.04

 
15.3
%
 
12.1
%
 
8.8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL
 
—
 
522

 
86,764,493

 
92.5
%
 
90.5
%
 
$
903,423

 
$
12.04

 
100.0
%
 
100.0
%
 
100.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





Supplemental Disclosure - Three Months Ended June 30, 2014
Page 36




PROPERTIES BY STATE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent of
 
 
 
 
 
 
 
 
 
Number of
 
 
 
Percent
 
Percent
 
 
 
 
 
Number of
 
Percent
 
Percent
 
 
 
State
 
Properties
 
GLA
 
Leased
 
Billed
 
 ABR
 
 ABR / SF
 
Properties
 
of GLA
 
of ABR
 
 
1
Alabama
 
4

 
989,814

 
92.9
%
 
92.9
%
 
$
7,229

 
$
7.93

 
0.8
%
 
1.1
%
 
0.8
%
 
 
2
Arizona
 
2

 
288,110

 
82.6
%
 
82.6
%
 
1,920

 
8.07

 
0.4
%
 
0.3
%
 
0.2
%
 
 
3
California
 
29

 
5,774,766

 
97.2
%
 
95.0
%
 
87,361

 
16.25

 
5.6
%
 
6.7
%
 
9.7
%
 
 
4
Colorado
 
6

 
1,478,724

 
93.4
%
 
88.0
%
 
17,152

 
12.71

 
1.1
%
 
1.7
%
 
1.9
%
 
 
5
Connecticut
 
15

 
2,265,428

 
93.7
%
 
89.5
%
 
28,863

 
14.60

 
2.9
%
 
2.6
%
 
3.2
%
 
 
6
Delaware
 
1

 
191,974

 
100.0
%
 
98.3
%
 
2,252

 
11.73

 
0.2
%
 
0.2
%
 
0.2
%
 
 
7
Florida
 
58

 
9,034,958

 
89.8
%
 
88.0
%
 
98,439

 
12.54

 
11.1
%
 
10.4
%
 
10.9
%
 
 
8
Georgia
 
37

 
5,264,025

 
89.2
%
 
86.8
%
 
44,293

 
9.52

 
7.1
%
 
6.1
%
 
4.9
%
 
 
9
Illinois
 
24

 
4,791,191

 
91.6
%
 
90.2
%
 
49,441

 
11.83

 
4.6
%
 
5.5
%
 
5.5
%
 
 
10
Indiana
 
12

 
1,966,952

 
89.0
%
 
87.3
%
 
14,695

 
8.63

 
2.3
%
 
2.3
%
 
1.6
%
 
 
11
Iowa
 
5

 
783,917

 
86.9
%
 
86.9
%
 
4,502

 
7.41

 
1.0
%
 
0.9
%
 
0.5
%
 
 
12
Kansas
 
2

 
376,292

 
87.1
%
 
87.1
%
 
2,825

 
11.28

 
0.4
%
 
0.4
%
 
0.3
%
 
 
13
Kentucky
 
12

 
2,520,021

 
95.7
%
 
94.9
%
 
20,029

 
8.91

 
2.3
%
 
2.9
%
 
2.2
%
 
 
14
Louisiana
 
4

 
612,368

 
95.1
%
 
95.1
%
 
3,535

 
6.07

 
0.8
%
 
0.7
%
 
0.4
%
 
 
15
Maine
 
2

 
391,746

 
92.7
%
 
92.7
%
 
2,598

 
13.34

 
0.4
%
 
0.5
%
 
0.3
%
 
 
16
Maryland
 
5

 
772,277

 
97.2
%
 
96.9
%
 
9,454

 
12.65

 
1.0
%
 
0.9
%
 
1.0
%
 
 
17
Massachusetts
 
10

 
1,709,273

 
92.8
%
 
92.3
%
 
18,558

 
14.59

 
1.9
%
 
2.0
%
 
2.1
%
 
 
18
Michigan
 
19

 
3,743,903

 
91.0
%
 
88.4
%
 
31,371

 
10.86

 
3.6
%
 
4.3
%
 
3.5
%
 
 
19
Minnesota
 
10

 
1,485,108

 
91.1
%
 
90.7
%
 
15,059

 
11.70

 
1.9
%
 
1.7
%
 
1.7
%
 
 
20
Mississippi
 
3

 
406,316

 
78.5
%
 
78.5
%
 
3,151

 
10.02

 
0.6
%
 
0.5
%
 
0.3
%
 
 
21
Missouri
 
6

 
874,795

 
92.6
%
 
91.3
%
 
6,073

 
7.62

 
1.1
%
 
1.0
%
 
0.7
%
 
 
22
Nevada
 
3

 
609,661

 
90.4
%
 
90.1
%
 
7,654

 
13.89

 
0.6
%
 
0.7
%
 
0.8
%
 
 
23
New Hampshire
 
5

 
769,577

 
97.3
%
 
96.3
%
 
8,162

 
13.28

 
1.0
%
 
0.9
%
 
0.9
%
 
 
24
New Jersey
 
17

 
2,984,623

 
93.5
%
 
89.3
%
 
39,392

 
15.16

 
3.3
%
 
3.4
%
 
4.4
%
 
 
25
New Mexico
 
2

 
83,800

 
100.0
%
 
100.0
%
 
919

 
10.97

 
0.4
%
 
0.1
%
 
0.1
%
 
 
26
New York
 
33

 
4,346,776

 
94.5
%
 
93.2
%
 
60,757

 
15.26

 
6.3
%
 
5.0
%
 
6.7
%
 
 
27
North Carolina
 
22

 
4,404,536

 
91.1
%
 
89.2
%
 
39,919

 
11.03

 
4.2
%
 
5.1
%
 
4.4
%
 
 
28
Ohio
 
24

 
4,531,817

 
90.3
%
 
88.7
%
 
40,946

 
10.57

 
4.6
%
 
5.2
%
 
4.5
%
 
 
29
Oklahoma
 
1

 
186,851

 
100.0
%
 
100.0
%
 
1,760

 
9.42

 
0.2
%
 
0.2
%
 
0.2
%
 
 
30
Pennsylvania
 
37

 
6,059,606

 
95.3
%
 
93.2
%
 
65,864

 
13.19

 
7.1
%
 
7.0
%
 
7.3
%
 
 
31
Rhode Island
 
1

 
148,126

 
99.1
%
 
96.4
%
 
1,470

 
10.02

 
0.2
%
 
0.2
%
 
0.2
%
 
 
32
South Carolina
 
8

 
1,394,993

 
85.3
%
 
81.2
%
 
12,116

 
10.38

 
1.5
%
 
1.6
%
 
1.3
%
 
 
33
Tennessee
 
16

 
3,240,636

 
92.9
%
 
88.2
%
 
27,708

 
9.65

 
3.1
%
 
3.7
%
 
3.1
%
 
 
34
Texas
 
68

 
9,593,939

 
94.0
%
 
92.4
%
 
103,027

 
12.38

 
13.0
%
 
11.1
%
 
11.4
%
 
 
35
Vermont
 
1

 
224,514

 
97.7
%
 
97.7
%
 
1,879

 
8.57

 
0.2
%
 
0.3
%
 
0.2
%
 
 
36
Virginia
 
11

 
1,446,496

 
95.6
%
 
94.7
%
 
14,146

 
11.47

 
2.1
%
 
1.7
%
 
1.6
%
 
 
37
West Virginia
 
2

 
251,500

 
95.6
%
 
95.6
%
 
1,967

 
8.18

 
0.4
%
 
0.3
%
 
0.2
%
 
 
38
Wisconsin
 
5

 
765,084

 
90.2
%
 
87.9
%
 
6,939

 
10.05

 
1.0
%
 
0.9
%
 
0.8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL
 
522

 
86,764,493

 
92.5
%
 
90.5
%
 
$
903,423

 
$
12.04

 
100.0
%
 
100.0
%
 
100.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


Supplemental Disclosure - Three Months Ended June 30, 2014
Page 37




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR / SF
 
Grocer (1)
 
Other Major Tenants
 
Non-Owned Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1
 
Winchester Plaza
 
Huntsville
 
AL
 
Huntsville, AL
 
2006
 
75,780

 
96.5
%
 
$
888

 
$
12.14

 
Publix
 
—
 
 
2
 
Springdale
 
Mobile
 
AL
 
Mobile, AL
 
2004
 
611,972

 
90.2
%
 
3,994

 
7.34

 
Sam's Club*
 
Belk, Best Buy, Big Lots, Burlington Coat Factory, Marshalls, Michaels, Staples
 
 
3
 
Payton Park
 
Sylacauga
 
AL
 
Talladega-Sylacauga, AL
 
1995
 
231,820

 
99.0
%
 
1,524

 
6.64

 
Walmart Supercenter
 
Burke's Outlet
 
 
4
 
Shops of Tuscaloosa
 
Tuscaloosa
 
AL
 
Tuscaloosa, AL
 
2005
 
70,242

 
92.6
%
 
823

 
12.65

 
Publix
 
—
 
 
5
 
Glendale Galleria
 
Glendale
 
AZ
 
Phoenix-Mesa-Scottsdale, AZ
 
1991
 
119,525

 
77.7
%
 
574

 
6.19

 
—
 
Sears Outlet
 
 
6
 
Northmall Centre
 
Tucson
 
AZ
 
Tucson, AZ
 
1996
 
168,585

 
86.0
%
 
1,345

 
9.28

 
Sam's Club*
 
CareMore, JC Penney Home Store, Stein Mart
 
 
7
 
Applegate Ranch Shopping Center
 
Atwater
 
CA
 
Merced, CA
 
2006
 
144,444

 
93.3
%
 
2,080

 
15.43

 
SuperTarget*
 
Marshalls
 
Walmart
8
 
Bakersfield Plaza
 
Bakersfield
 
CA
 
Bakersfield, CA
 
2014
 
240,328

 
99.9
%
 
3,221

 
13.66

 
Lassens Natural Foods & Vitamins
 
Burlington Coat Factory, Ross Dress for Less
 
 
9
 
Carmen Plaza
 
Camarillo
 
CA
 
Oxnard-Thousand Oaks-Ventura, CA
 
2000
 
129,173

 
94.4
%
 
1,900

 
16.47

 
Trader Joe's*
 
24 Hour Fitness, CVS, Michaels
 
 
10
 
Plaza Rio Vista
 
Cathedral
 
CA
 
Riverside-San Bernardino-Ontario, CA
 
2005
 
67,622

 
88.2
%
 
1,037

 
17.39

 
Stater Bros.
 
—
 
 
11
 
Clovis Commons
 
Clovis
 
CA
 
Fresno, CA
 
2004
 
174,990

 
98.7
%
 
3,670

 
21.24

 
—
 
Best Buy, Office Depot, PetSmart, T.J.Maxx
 
Target
12
 
Cudahy Plaza
 
Cudahy
 
CA
 
Los Angeles-Long Beach-Anaheim, CA
 
1994
 
147,804

 
100.0
%
 
1,390

 
9.40

 
—
 
Big Lots, Kmart
 
 
13
 
University Mall
 
Davis
 
CA
 
Sacramento--Roseville--Arden-Arcade, CA
 
2011
 
103,695

 
100.0
%
 
1,959

 
18.89

 
Trader Joe's
 
Forever 21, World Market
 
 
14
 
Felicita Plaza
 
Escondido
 
CA
 
San Diego-Carlsbad, CA
 
2001
 
98,714

 
96.1
%
 
1,321

 
13.93

 
Vons (Safeway)
 
Chuze Fitness
 
 
15
 
Arbor - Broadway Faire
 
Fresno
 
CA
 
Fresno, CA
 
1995
 
261,344

 
97.1
%
 
3,487

 
13.74

 
Smart & Final
 
PetSmart, The Home Depot, United Artists Theatres
 
 
16
 
Lompoc Shopping Center
 
Lompoc
 
CA
 
Santa Maria-Santa Barbara, CA
 
2012
 
179,495

 
96.4
%
 
1,903

 
11.89

 
Vons (Safeway)
 
Marshalls, Michaels, Staples
 
 
17
 
Briggsmore Plaza
 
Modesto
 
CA
 
Modesto, CA
 
1998
 
99,315

 
100.0
%
 
1,085

 
11.52

 
Grocery Outlet
 
Dunhill Furniture, Sears Outlet
 
 
18
 
Montebello Plaza
 
Montebello
 
CA
 
Los Angeles-Long Beach-Anaheim, CA
 
2012
 
283,631

 
96.8
%
 
4,293

 
15.93

 
Albertsons
 
99¢ Only, Best Buy, CVS, Ross Dress for Less
 
 
19
 
California Oaks Center
 
Murrieta
 
CA
 
Riverside-San Bernardino-Ontario, CA
 
1990
 
125,187

 
90.4
%
 
1,575

 
14.39

 
—
 
—
 
 
20
 
Esplanade Shopping Center
 
Oxnard
 
CA
 
Oxnard-Thousand Oaks-Ventura, CA
 
2012
 
356,864

 
97.1
%
 
6,506

 
18.95

 
Walmart Neighborhood Market
 
Bed Bath & Beyond, Dick's Sporting Goods, LA Fitness, Nordstrom Rack, T.J.Maxx
 
The Home Depot
21
 
Pacoima Center
 
Pacoima
 
CA
 
Los Angeles-Long Beach-Anaheim, CA
 
1995
 
202,773

 
100.0
%
 
2,038

 
10.05

 
Food 4 Less
 
Ross Dress for Less, Target
 
 
22
 
Paradise Plaza
 
Paradise
 
CA
 
Chico, CA
 
1997
 
198,323

 
95.5
%
 
824

 
5.40

 
Save Mart
 
Kmart
 
 
23
 
Metro 580
 
Pleasanton
 
CA
 
San Francisco-Oakland-Hayward, CA
 
2004
 
176,510

 
87.2
%
 
2,071

 
35.41

 
—
 
Kohl's, Sport Chalet
 
Walmart
24
 
Rose Pavilion
 
Pleasanton
 
CA
 
San Francisco-Oakland-Hayward, CA
 
2014
 
299,859

 
97.7
%
 
6,413

 
23.03

 
99 Ranch Market
 
Golfsmith, Macy's Home Store
 
 
25
 
Puente Hills Town Center
 
Rowland Heights
 
CA
 
Los Angeles-Long Beach-Anaheim, CA
 
1984
 
259,162

 
99.5
%
 
5,014

 
19.44

 
—
 
Marshalls, Michaels
 
 
26
 
San Bernardino Center
 
San Bernardino
 
CA
 
Riverside-San Bernardino-Ontario, CA
 
2003
 
143,082

 
100.0
%
 
1,041

 
7.27

 
—
 
Big Lots, Target
 
 
27
 
Ocean View Plaza
 
San Clemente
 
CA
 
Los Angeles-Long Beach-Anaheim, CA
 
1997
 
169,387

 
99.3
%
 
4,427

 
26.33

 
Ralphs (Kroger), Trader Joe's
 
CVS, Fitness Elite for Women
 
 
28
 
Mira Mesa Mall
 
San Diego
 
CA
 
San Diego-Carlsbad, CA
 
2003
 
407,100

 
98.6
%
 
7,664

 
19.94

 
Vons (Safeway)
 
Bed Bath & Beyond, Kohl's, Marshalls, Mira Mesa Lanes
 
 
29
 
San Dimas Plaza
 
San Dimas
 
CA
 
Los Angeles-Long Beach-Anaheim, CA
 
2013
 
164,757

 
91.9
%
 
3,231

 
21.34

 
Smart & Final Extra!
 
T.J.Maxx
 
Rite Aid
30
 
Bristol Plaza
 
Santa Ana
 
CA
 
Los Angeles-Long Beach-Anaheim, CA
 
2003
 
111,403

 
100.0
%
 
2,706

 
32.65

 
Trader Joe's
 
Big Lots, Petco, Rite Aid
 
 
31
 
Gateway Plaza
 
Santa Fe Springs
 
CA
 
Los Angeles-Long Beach-Anaheim, CA
 
2002
 
289,268

 
100.0
%
 
3,450

 
11.93

 
El Super, Walmart Supercenter
 
LA Fitness , Marshalls
 
Target
32
 
Santa Paula Shopping Center
 
Santa Paula
 
CA
 
Oxnard-Thousand Oaks-Ventura, CA
 
1995
 
191,475

 
100.0
%
 
1,899

 
9.92

 
Vons (Safeway)
 
Big Lots, Heritage Hardware
 
 
33
 
Vail Ranch Center
 
Temecula
 
CA
 
Riverside-San Bernardino-Ontario, CA
 
2003
 
201,904

 
93.5
%
 
2,585

 
13.69

 
Stater Bros.
 
Stein Mart
 
 
34
 
Country Hills Shopping Center
 
Torrance
 
CA
 
Los Angeles-Long Beach-Anaheim, CA
 
1977
 
56,750

 
97.8
%
 
965

 
18.55

 
Ralphs (Kroger)
 
—
 
 
35
 
Gateway Plaza - Vallejo
 
Vallejo
 
CA
 
Vallejo-Fairfield, CA
 
1991
 
490,407

 
97.9
%
 
7,606

 
15.91

 
Costco*
 
Bed Bath & Beyond, Century Theatres, Marshalls, Ross Dress for Less, Toys"R"Us
 
Target
36
 
Arvada Plaza
 
Arvada
 
CO
 
Denver-Aurora-Lakewood, CO
 
1994
 
95,236

 
100.0
%
 
678

 
7.11

 
King Soopers (Kroger)
 
Arc
 
 
37
 
Arapahoe Crossings
 
Aurora
 
CO
 
Denver-Aurora-Lakewood, CO
 
2003
 
466,363

 
96.3
%
 
5,710

 
12.72

 
King Soopers (Kroger)
 
2nd & Charles, AMC Theatres, Big Lots, Gordmans, Kohl's, Marshalls
 
 
38
 
Aurora Plaza
 
Aurora
 
CO
 
Denver-Aurora-Lakewood, CO
 
1996
 
178,491

 
96.4
%
 
1,230

 
7.41

 
King Soopers (Kroger)
 
Cinema Latino, Gen-X
 
 
39
 
Villa Monaco
 
Denver
 
CO
 
Denver-Aurora-Lakewood, CO
 
2013
 
122,139

 
87.1
%
 
1,372

 
12.89

 
Walmart Neighborhood Market
 
—
 
 
40
 
Superior Marketplace
 
Superior
 
CO
 
Boulder, CO
 
2004
 
278,790

 
82.8
%
 
3,596

 
15.57

 
Whole Foods Market, Costco*, SuperTarget*
 
Sports Authority, T.J.Maxx
 
 
41
 
Westminster City Center
 
Westminster
 
CO
 
Denver-Aurora-Lakewood, CO
 
2014
 
337,705

 
97.2
%
 
4,566

 
15.11

 
—
 
Babies"R"Us, Barnes & Noble, Gordmans, Jo-Ann Fabric & Craft Stores, Ross Dress for Less, Tile Shop, Ulta
 
 
42
 
Freshwater - Stateline Plaza
 
Enfield
 
CT
 
Hartford-West Hartford-East Hartford, CT
 
2004
 
295,647

 
98.6
%
 
2,481

 
16.02

 
Costco
 
Dick's Sporting Goods, P.C. Richard & Son
 
The Home Depot
43
 
The Shoppes at Fox Run
 
Glastonbury
 
CT
 
Hartford-West Hartford-East Hartford, CT
 
2012
 
108,627

 
95.3
%
 
2,419

 
23.38

 
Whole Foods Market
 
Petco
 
 
44
 
Groton Square
 
Groton
 
CT
 
Norwich-New London, CT
 
1987
 
196,802

 
100.0
%
 
2,656

 
13.49

 
Super Stop & Shop (Ahold)
 
Kohl's
 
 
45
 
Parkway Plaza
 
Hamden
 
CT
 
New Haven-Milford, CT
 
2006
 
72,353

 
100.0
%
 
999

 
13.81

 
PriceRite (ShopRite)
 
—
 
 
46
 
Killingly Plaza
 
Killingly
 
CT
 
Worcester, MA-CT
 
1990
 
75,304

 
93.7
%
 
480

 
6.80

 
—
 
Kohl's
 
 
47
 
The Manchester Collection
 
Manchester
 
CT
 
Hartford-West Hartford-East Hartford, CT
 
2014
 
342,247

 
85.8
%
 
3,812

 
12.98

 
Sam's Club*
 
Ashley Furniture, Babies"R"Us, Bed Bath & Beyond, Savers
 
Walmart
48
 
Chamberlain Plaza
 
Meriden
 
CT
 
New Haven-Milford, CT
 
2004
 
54,302

 
100.0
%
 
520

 
9.58

 
—
 
Dollar Tree, Savers
 
 
49
 
Milford Center
 
Milford
 
CT
 
New Haven-Milford, CT
 
1966
 
25,056

 
100.0
%
 
341

 
13.60

 
Xpect Discounts
 
—
 
 


Supplemental Disclosure - Three Months Ended June 30, 2014
Page 38




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR / SF
 
Grocer (1)
 
Other Major Tenants
 
Non-Owned Major Tenants
50
 
Turnpike Plaza
 
Newington
 
CT
 
Hartford-West Hartford-East Hartford, CT
 
2004
 
150,741

 
100.0
%
 
2,387

 
15.83

 
Price Chopper
 
Dick's Sporting Goods
 
 
51
 
North Haven Crossing
 
North Haven
 
CT
 
New Haven-Milford, CT
 
1993
 
104,017

 
88.4
%
 
1,596

 
17.37

 
—
 
Barnes & Noble, Dollar Tree, DSW, PetSmart
 
 
52
 
Christmas Tree Plaza
 
Orange
 
CT
 
New Haven-Milford, CT
 
1996
 
132,791

 
82.6
%
 
1,645

 
15.00

 
—
 
A.C. Moore, Christmas Tree Shops
 
 
53
 
Stratford Square
 
Stratford
 
CT
 
Bridgeport-Stamford-Norwalk, CT
 
2014
 
161,539

 
88.0
%
 
1,707

 
12.01

 
—
 
Marshalls, Regal Cinemas
 
 
54
 
Torrington Plaza
 
Torrington
 
CT
 
Torrington, CT
 
1994
 
125,496

 
95.2
%
 
1,310

 
11.96

 
—
 
Jo-Ann Fabric & Craft Stores, Staples, T.J.Maxx
 
 
55
 
Waterbury Plaza
 
Waterbury
 
CT
 
New Haven-Milford, CT
 
2000
 
183,706

 
92.6
%
 
2,217

 
13.04

 
Super Stop & Shop (Ahold)
 
Pretty Woman
 
Target
56
 
Waterford Commons
 
Waterford
 
CT
 
Norwich-New London, CT
 
2004
 
236,800

 
97.7
%
 
4,292

 
18.54

 
—
 
Babies"R"Us, Dick’s Sporting Goods
 
Best Buy
57
 
North Dover Shopping Center
 
Dover
 
DE
 
Dover, DE
 
2013
 
191,974

 
100.0
%
 
2,252

 
11.73

 
Acme (Albertsons)
 
Party City, Staples, T.J.Maxx, Toys"R"Us
 
 
58
 
Apopka Commons
 
Apopka
 
FL
 
Orlando-Kissimmee-Sanford, FL
 
2010
 
42,507

 
100.0
%
 
582

 
13.68

 
—
 
Staples
 
The Home Depot
59
 
Brooksville Square
 
Brooksville
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
2013
 
155,361

 
93.2
%
 
1,492

 
10.30

 
Publix
 
Sears Outlet
 
 
60
 
Coastal Way - Coastal Landing
 
Brooksville
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
2008
 
368,098

 
97.6
%
 
3,210

 
11.99

 
—
 
Bed Bath & Beyond, Belk, hhgregg, Marshalls, Michaels, Office Depot, Petco, Sears, Ulta
 
 
61
 
Midpoint Center
 
Cape Coral
 
FL
 
Cape Coral-Fort Myers, FL
 
2002
 
75,386

 
100.0
%
 
994

 
13.19

 
Publix
 
—
 
Target
62
 
Clearwater Mall
 
Clearwater
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
2012
 
300,929

 
97.9
%
 
6,028

 
21.57

 
Costco*, SuperTarget*
 
hhgregg, Michaels, PetSmart, Ross Dress for Less
 
Lowe's
63
 
Coconut Creek
 
Coconut Creek
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
2005
 
265,671

 
80.5
%
 
2,685

 
12.55

 
Publix
 
Bealls Outlet, Big Lots, Off the Wall Trampoline, Planet Fitness
 
 
64
 
Century Plaza Shopping Center
 
Deerfield Beach
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
2006
 
90,233

 
72.3
%
 
1,296

 
19.86

 
—
 
Broward County Library
 
 
65
 
Northgate S.C.
 
DeLand
 
FL
 
Deltona-Daytona Beach-Ormond Beach, FL
 
1993
 
186,396

 
97.6
%
 
1,283

 
7.05

 
Publix
 
—
 
 
66
 
Eustis Village
 
Eustis
 
FL
 
Orlando-Kissimmee-Sanford, FL
 
2002
 
156,927

 
94.0
%
 
1,632

 
11.07

 
Publix
 
Beall's
 
 
67
 
First Street Village
 
Fort Meyers
 
FL
 
Cape Coral-Fort Myers, FL
 
2006
 
54,926

 
91.2
%
 
765

 
15.27

 
Publix
 
—
 
 
68
 
Sun Plaza
 
Ft. Walton Beach
 
FL
 
Crestview-Fort Walton Beach-Destin, FL
 
2004
 
158,118

 
98.8
%
 
1,599

 
10.24

 
Publix
 
Beall's, Books-A-Million, Office Depot, T.J.Maxx
 
 
69
 
Normandy Square
 
Jacksonville
 
FL
 
Jacksonville, FL
 
1996
 
87,240

 
100.0
%
 
735

 
8.43

 
Winn-Dixie (BI-LO)
 
CVS, Family Dollar
 
 
70
 
Regency Park
 
Jacksonville
 
FL
 
Jacksonville, FL
 
2006
 
334,065

 
70.2
%
 
2,012

 
8.59

 
—
 
American Signature Furniture, Bealls Outlet, Books-A-Million, Hobby Lobby
 
 
71
 
The Shoppes at Southside
 
Jacksonville
 
FL
 
Jacksonville, FL
 
2004
 
109,113

 
100.0
%
 
2,305

 
21.13

 
—
 
Best Buy, David's Bridal, Sports Authority
 
 
72
 
Ventura Downs
 
Kissimmee
 
FL
 
Orlando-Kissimmee-Sanford, FL
 
2005
 
98,191

 
97.5
%
 
1,194

 
12.47

 
Publix Sabor
 
—
 
 
73
 
Marketplace at Wycliffe
 
Lake Worth
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
2014
 
133,520

 
92.0
%
 
1,908

 
15.53

 
—
 
Walgreens
 
 
74
 
Venetian Isle Shopping Ctr
 
Lighthouse Point
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
1992
 
180,853

 
96.0
%
 
1,800

 
10.67

 
Publix
 
Petco, Staples, Tuesday Morning, T.J.Maxx
 
 
75
 
Marco Town Center
 
Marco Island
 
FL
 
Naples-Immokalee-Marco Island, FL
 
2001
 
109,830

 
90.4
%
 
1,964

 
19.78

 
Publix
 
—
 
 
76
 
Mall at 163rd Street
 
Miami
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
2007
 
370,132

 
63.8
%
 
3,798

 
20.37

 
Walmart Supercenter*
 
Marshalls, Office Depot, Ross Dress for Less
 
 
77
 
Miami Gardens
 
Miami
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
1996
 
244,719

 
100.0
%
 
2,482

 
10.14

 
Winn-Dixie (BI-LO)
 
Ross Dress for Less
 
 
78
 
Freedom Square
 
Naples
 
FL
 
Naples-Immokalee-Marco Island, FL
 
1995
 
211,839

 
100.0
%
 
1,906

 
9.00

 
Publix
 
—
 
 
79
 
Naples Plaza
 
Naples
 
FL
 
Naples-Immokalee-Marco Island, FL
 
2013
 
200,820

 
100.0
%
 
3,354

 
16.99

 
Publix
 
Marshalls, Office Depot, PGA TOUR Superstore
 
 
80
 
Park Shore Shopping Center
 
Naples
 
FL
 
Naples-Immokalee-Marco Island, FL
 
2013
 
232,820

 
98.0
%
 
2,003

 
8.78

 
The Fresh Market
 
Big Lots, HomeGoods, Kmart, YouFit Health Club
 
 
81
 
Chelsea Place
 
New Port Richey
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
1992
 
81,144

 
97.0
%
 
890

 
11.30

 
Publix
 
Zone Fitness Club
 
 
82
 
Southgate
 
New Port Richey
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
2012
 
238,838

 
91.2
%
 
1,997

 
9.62

 
Publix
 
Bealls Outlet, Big Lots, Old Time Pottery
 
 
83
 
Presidential Plaza
 
North Lauderdale
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
2006
 
88,306

 
83.2
%
 
717

 
9.76

 
Sedano's
 
Family Dollar
 
 
84
 
Fashion Square
 
Orange Park
 
FL
 
Jacksonville, FL
 
1996
 
36,029

 
50.4
%
 
377

 
29.22

 
—
 
Miller's Orange Park Ale House, Ruby Tuesday, Samurai Japanese Steakhouse
 
 
85
 
Colonial Marketplace
 
Orlando
 
FL
 
Orlando-Kissimmee-Sanford, FL
 
2014
 
141,069

 
100.0
%
 
2,285

 
16.20

 
—
 
Burlington Coat Factory, LA Fitness
 
Target
86
 
Conway Crossing
 
Orlando
 
FL
 
Orlando-Kissimmee-Sanford, FL
 
2002
 
76,321

 
100.0
%
 
927

 
12.15

 
Publix
 
—
 
 
87
 
Hunters Creek
 
Orlando
 
FL
 
Orlando-Kissimmee-Sanford, FL
 
1998
 
73,204

 
98.2
%
 
1,090

 
15.16

 
—
 
Office Depot
 
 
88
 
Pointe Orlando
 
Orlando
 
FL
 
Orlando-Kissimmee-Sanford, FL
 
2014
 
408,320

 
81.2
%
 
6,714

 
21.63

 
—
 
Regal Cinemas
 
 
89
 
Martin Downs Town Center
 
Palm City
 
FL
 
Port St. Lucie, FL
 
1996
 
64,546

 
100.0
%
 
818

 
12.67

 
Publix
 
—
 
 
90
 
Martin Downs Village Center
 
Palm City
 
FL
 
Port St. Lucie, FL
 
1987
 
161,604

 
78.1
%
 
2,185

 
17.32

 
—
 
Goodwill, Martin Memorial, Walgreens
 
 
91
 
23rd Street Station
 
Panama City
 
FL
 
Panama City, FL
 
1995
 
98,827

 
91.2
%
 
1,050

 
11.65

 
Publix
 
—
 
 
92
 
Panama City Square
 
Panama City
 
FL
 
Panama City, FL
 
2013
 
298,685

 
100.0
%
 
2,216

 
7.42

 
Walmart Supercenter
 
Big Lots, Sports Authority, T.J.Maxx
 
 
93
 
Pensacola Square
 
Pensacola
 
FL
 
Pensacola-Ferry Pass-Brent, FL
 
1995
 
142,767

 
89.5
%
 
1,105

 
9.21

 
—
 
Beall's, Big Lots, Sears Home Appliance Showroom
 
Hobby Lobby
94
 
Shopper's Haven Shopping Ctr
 
Pompano Beach
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
1998
 
206,791

 
96.9
%
 
2,578

 
13.27

 
Winn-Dixie (BI-LO)
 
A.C. Moore, Bealls Outlet, Bed Bath & Beyond, Party City, YouFit Health Club
 
 
95
 
East Port Plaza
 
Port St. Lucie
 
FL
 
Port St. Lucie, FL
 
1991
 
162,831

 
83.1
%
 
1,795

 
13.26

 
Publix
 
Fortis Institute, Walgreens
 
 
96
 
Shoppes of Victoria Square
 
Port St. Lucie
 
FL
 
Port St. Lucie, FL
 
1990
 
95,243

 
86.2
%
 
956

 
11.65

 
Winn-Dixie (BI-LO)
 
Dollar Tree
 
 
97
 
Lake St. Charles
 
Riverview
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
1999
 
57,015

 
95.4
%
 
553

 
10.18

 
Winn-Dixie (BI-LO)
 
—
 
 
98
 
Cobblestone Village I and II
 
Royal Palm Beach
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
2005
 
39,404

 
88.7
%
 
680

 
19.44

 
SuperTarget*
 
Blue Fish Restaurant, The Zoo Health Club
 
 
99
 
Beneva Village Shops
 
Sarasota
 
FL
 
North Port-Sarasota-Bradenton, FL
 
1987
 
141,532

 
87.2
%
 
1,455

 
11.79

 
Publix
 
Harbor Freight Tools, Walgreens, YouFit Health Club
 
 
100
 
Sarasota Village
 
Sarasota
 
FL
 
North Port-Sarasota-Bradenton, FL
 
2011
 
173,184

 
100.0
%
 
1,967

 
11.65

 
Publix
 
Big Lots, Crunch Fitness, HomeGoods
 
 


Supplemental Disclosure - Three Months Ended June 30, 2014
Page 39




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR / SF
 
Grocer (1)
 
Other Major Tenants
 
Non-Owned Major Tenants
101
 
Atlantic Plaza
 
Satellite Beach
 
FL
 
Palm Bay-Melbourne-Titusville, FL
 
2008
 
128,405

 
74.1
%
 
1,198

 
24.17

 
Publix
 
—
 
 
102
 
Seminole Plaza
 
Seminole
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
1995
 
146,579

 
96.9
%
 
954

 
6.72

 
—
 
Burlington Coat Factory, T.J.Maxx
 
 
103
 
Cobblestone Village
 
St. Augustine
 
FL
 
Jacksonville, FL
 
2003
 
261,081

 
85.9
%
 
2,852

 
12.72

 
Publix
 
Beall's, Bed Bath & Beyond, Michaels, Petco
 
 
104
 
Dolphin Village
 
St. Pete Beach
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
1990
 
136,224

 
83.1
%
 
1,547

 
13.66

 
Publix
 
CVS, Dollar Tree
 
 
105
 
Bay Point Plaza
 
St. Petersburg
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
2002
 
103,986

 
83.5
%
 
894

 
10.29

 
Publix
 
Beall's
 
 
106
 
Rutland Plaza
 
St. Petersburg
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
2002
 
149,562

 
97.2
%
 
1,280

 
8.81

 
Winn-Dixie (BI-LO)
 
Beall’s, Big Lots
 
 
107
 
Skyway Plaza
 
St. Petersburg
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
2002
 
110,799

 
94.1
%
 
902

 
8.65

 
—
 
Dollar Tree
 
 
108
 
Tyrone Gardens
 
St. Petersburg
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
1998
 
209,337

 
83.4
%
 
1,503

 
8.61

 
Winn-Dixie (BI-LO)
 
Beall's, Big Lots, Chuck E. Cheese’s
 
 
109
 
Downtown Publix
 
Stuart
 
FL
 
Port St. Lucie, FL
 
2000
 
153,246

 
70.0
%
 
1,118

 
10.43

 
Publix
 
Schumacher Music
 
 
110
 
Sunrise Town Center
 
Sunrise
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
1989
 
110,109

 
88.1
%
 
1,146

 
11.81

 
Patel Brothers
 
Dollar Tree, LA Fitness
 
Walmart
111
 
Carrollwood Center
 
Tampa
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
2002
 
93,673

 
96.1
%
 
1,303

 
14.48

 
Publix
 
Rarehues
 
 
112
 
Ross Plaza
 
Tampa
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
1996
 
90,625

 
91.1
%
 
1,073

 
13.01

 
—
 
Deal$, Ross Dress for Less
 
 
113
 
Tarpon Mall
 
Tarpon Springs
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
2003
 
145,832

 
99.4
%
 
2,089

 
14.41

 
Publix
 
Petco, T.J.Maxx
 
 
114
 
Venice Plaza
 
Venice
 
FL
 
North Port-Sarasota-Bradenton, FL
 
1999
 
132,345

 
94.8
%
 
771

 
6.14

 
Winn-Dixie (BI-LO)
 
T.J.Maxx
 
 
115
 
Venice Shopping Center
 
Venice
 
FL
 
North Port-Sarasota-Bradenton, FL
 
2000
 
109,801

 
76.2
%
 
429

 
5.13

 
Publix
 
Beall's
 
 
116
 
Governors Town Square
 
Acworth
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
2005
 
68,658

 
95.9
%
 
1,098

 
16.67

 
Publix
 
—
 
 
117
 
Albany Plaza
 
Albany
 
GA
 
Albany, GA
 
1995
 
114,169

 
75.1
%
 
541

 
6.31

 
Harveys (BI-LO)
 
Big Lots, OK Beauty & Fashions Outlet
 
 
118
 
Mansell Crossing
 
Alpharetta
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
2014
 
332,364

 
99.2
%
 
4,931

 
14.96

 
—
 
AMC Theatres, Barnes & Noble, DSW, Macy's Furniture Gallery, REI, Sports Authority, T.J.Maxx
 
Toys"R"Us
119
 
Perlis Plaza
 
Americus
 
GA
 
Americus, GA
 
1972
 
165,315

 
84.6
%
 
763

 
5.45

 
—
 
Belk, Roses
 
 
120
 
Northeast Plaza
 
Atlanta
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
2013
 
442,200

 
93.6
%
 
3,966

 
9.71

 
G-Mart International Foods
 
Atlanta Ballroom Dance Club, dd's Discounts, Goodwill
 
 
121
 
Augusta West Plaza
 
Augusta
 
GA
 
Augusta-Richmond County, GA-SC
 
2006
 
207,823

 
71.2
%
 
1,078

 
7.29

 
—
 
Burlington Coat Factory, Dollar Tree
 
 
122
 
Sweetwater Village
 
Austell
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1985
 
66,197

 
100.0
%
 
478

 
7.22

 
Food Depot
 
Family Dollar
 
 
123
 
Vineyards at Chateau Elan
 
Braselton
 
GA
 
—
 
2002
 
79,047

 
82.4
%
 
889

 
13.65

 
Publix
 
—
 
 
124
 
Cedar Plaza
 
Cedartown
 
GA
 
Cedartown, GA
 
1994
 
83,300

 
100.0
%
 
594

 
7.14

 
Kroger
 
Gold's Gym
 
 
125
 
Conyers Plaza
 
Conyers
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
2001
 
171,374

 
94.3
%
 
1,817

 
11.24

 
Walmart Supercenter*
 
Jo-Ann Fabric & Craft Stores, PetSmart, Value Village
 
The Home Depot
126
 
Cordele Square
 
Cordele
 
GA
 
Cordele, GA
 
2002
 
127,953

 
82.6
%
 
653

 
6.18

 
Harveys (BI-LO)
 
Belk, Citi Trends, Cordele Theatres
 
 
127
 
Covington Gallery
 
Covington
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1991
 
174,857

 
95.2
%
 
1,163

 
6.99

 
Ingles
 
Kmart
 
 
128
 
Salem Road Station
 
Covington
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
2000
 
67,270

 
89.0
%
 
651

 
10.88

 
Publix
 
—
 
 
129
 
Keith Bridge Commons
 
Cumming
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
2002
 
94,886

 
89.3
%
 
1,085

 
12.80

 
Kroger
 
Anytime Fitness
 
 
130
 
Northside
 
Dalton
 
GA
 
Dalton, GA
 
2001
 
73,931

 
86.3
%
 
485

 
7.60

 
BI-LO
 
Family Dollar
 
 
131
 
Cosby Station
 
Douglasville
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1994
 
77,811

 
91.4
%
 
755

 
10.62

 
Publix
 
—
 
 
132
 
Park Plaza
 
Douglasville
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1986
 
46,494

 
86.4
%
 
595

 
14.83

 
Kroger*
 
—
 
 
133
 
Dublin Village
 
Dublin
 
GA
 
Dublin, GA
 
2005
 
98,540

 
88.7
%
 
606

 
6.93

 
Kroger
 
—
 
 
134
 
Westgate
 
Dublin
 
GA
 
Dublin, GA
 
2004
 
118,938

 
87.6
%
 
587

 
5.85

 
Harveys (BI-LO)
 
Beall's, Big Lots
 
The Home Depot
135
 
Venture Pointe
 
Duluth
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
2012
 
155,172

 
97.1
%
 
1,627

 
10.80

 
—
 
American Signature Furniture, Ollie's Bargain Outlet, Studio Movie Grill
 
 
136
 
Banks Station
 
Fayetteville
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
2006
 
176,451

 
83.1
%
 
1,128

 
8.94

 
Food Depot
 
Cinemark, Staples
 
 
137
 
Barrett Place
 
Kennesaw
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1994
 
218,818

 
100.0
%
 
2,133

 
9.75

 
—
 
Best Buy, Michaels, OfficeMax, PetSmart, Sports Authority, The Furniture Mall
 
 
138
 
Shops of Huntcrest
 
Lawrenceville
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
2003
 
97,040

 
97.9
%
 
1,223

 
12.87

 
Publix
 
—
 
 
139
 
Mableton Walk
 
Mableton
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1994
 
105,884

 
79.9
%
 
999

 
11.81

 
Publix
 
—
 
 
140
 
The Village at Mableton
 
Mableton
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1998
 
239,013

 
76.5
%
 
1,054

 
5.97

 
—
 
Dollar Tree, Kmart, Ollie's Bargain Basement
 
 
141
 
North Park
 
Macon
 
GA
 
Macon, GA
 
2013
 
216,795

 
96.1
%
 
1,246

 
5.98

 
Kroger
 
Kmart
 
 
142
 
Marshalls at Eastlake
 
Marietta
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1982
 
54,976

 
94.2
%
 
449

 
8.68

 
—
 
Marshalls
 
 
143
 
New Chastain Corners
 
Marietta
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
2004
 
113,079

 
80.3
%
 
914

 
10.06

 
Kroger
 
—
 
 
144
 
Pavilions at Eastlake
 
Marietta
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1996
 
157,888

 
86.0
%
 
1,613

 
11.88

 
Kroger
 
J. Christopher's
 
 
145
 
Perry Marketplace
 
Perry
 
GA
 
Warner Robins, GA
 
2004
 
179,973

 
75.8
%
 
911

 
6.68

 
Kroger
 
Ace Hardware, Beall's Outlet, Goody's
 
 
146
 
Creekwood Village
 
Rex
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1990
 
69,778

 
94.1
%
 
533

 
8.12

 
Food Depot
 
—
 
 
147
 
Shops of Riverdale
 
Riverdale
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1995
 
16,808

 
100.0
%
 
277

 
16.48

 
Walmart Supercenter*
 
—
 
 
148
 
Holcomb Bridge Crossing
 
Roswell
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1988
 
105,420

 
95.2
%
 
928

 
9.25

 
—
 
PGA TOUR Superstore
 
 
149
 
Victory Square
 
Savannah
 
GA
 
Savannah, GA
 
2007
 
122,739

 
97.6
%
 
1,713

 
14.65

 
SuperTarget*
 
Citi Trends, Dollar Tree, Frank Theatres, Staples
 
The Home Depot
150
 
Stockbridge Village
 
Stockbridge
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
2008
 
188,155

 
80.9
%
 
2,108

 
14.31

 
Kroger
 
—
 
 
151
 
Stone Mountain Festival
 
Stone Mountain
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
2006
 
347,091

 
96.3
%
 
1,936

 
5.79

 
Walmart Supercenter
 
Hobby Lobby , NCG Cinemas
 
 


Supplemental Disclosure - Three Months Ended June 30, 2014
Page 40




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR / SF
 
Grocer (1)
 
Other Major Tenants
 
Non-Owned Major Tenants
152
 
Wilmington Island
 
Wilmington Island
 
GA
 
Savannah, GA
 
2003
 
87,818

 
70.9
%
 
764

 
12.26

 
Kroger
 
—
 
 
153
 
Davenport Retail Center
 
Davenport
 
IA
 
Davenport-Moline-Rock Island, IA-IL
 
1996
 
62,588

 
100.0
%
 
720

 
11.50

 
SuperTarget*
 
Party City, PetSmart, Staples
 
 
154
 
Kimberly West Shopping Center
 
Davenport
 
IA
 
Davenport-Moline-Rock Island, IA-IL
 
1987
 
113,713

 
85.2
%
 
569

 
5.87

 
Hy-Vee
 
—
 
 
155
 
Haymarket Mall
 
Des Moines
 
IA
 
Des Moines-West Des Moines, IA
 
2002
 
241,572

 
96.8
%
 
1,233

 
5.56

 
—
 
Burlington Coat Factory, Hobby Lobby
 
 
156
 
Haymarket Square
 
Des Moines
 
IA
 
Des Moines-West Des Moines, IA
 
2002
 
269,705

 
72.3
%
 
1,233

 
9.30

 
Dahl's Foods
 
Big Lots, Northern Tool + Equipment, Office Depot
 
 
157
 
Warren Plaza
 
Dubuque
 
IA
 
Dubuque, IA
 
1993
 
96,339

 
96.7
%
 
747

 
8.01

 
Hy-Vee
 
—
 
Target
158
 
Annex of Arlington
 
Arlington Heights
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2012
 
193,175

 
93.0
%
 
2,792

 
15.54

 
Trader Joe's
 
Barnes & Noble, Binny's Beverage Depot, hhgregg, Petco
 
 
159
 
Ridge Plaza
 
Arlington Heights
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2000
 
151,643

 
90.5
%
 
1,926

 
14.04

 
—
 
Savers, XSport Fitness
 
Kohl's
160
 
Bartonville Square
 
Bartonville
 
IL
 
Peoria, IL
 
2001
 
61,678

 
95.7
%
 
313

 
5.93

 
Kroger
 
—
 
 
161
 
Festival Center
 
Bradley
 
IL
 
Kankakee, IL
 
2006
 
63,796

 
76.7
%
 
294

 
6.02

 
—
 
Big Lots, Dollar General
 
 
162
 
Southfield Plaza
 
Bridgeview
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2006
 
198,331

 
95.9
%
 
2,077

 
10.92

 
Shop 'n Save
 
Hobby Lobby, Walgreen's
 
 
163
 
Commons of Chicago Ridge
 
Chicago Ridge
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1998
 
324,977

 
95.6
%
 
3,868

 
13.41

 
—
 
Marshalls, Office Depot, The Home Depot, XSport Fitness
 
 
164
 
Rivercrest Shopping Center
 
Crestwood
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2013
 
488,680

 
90.9
%
 
5,155

 
12.92

 
Ultra Foods
 
Best Buy, Party City, PetSmart, Ross Dress for Less, T.J.Maxx
 
 
165
 
The Commons of Crystal Lake
 
Crystal Lake
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2013
 
273,060

 
79.3
%
 
2,343

 
10.82

 
Jewel-Osco (Albertsons)
 
Toys"R"Us
 
Hobby Lobby
166
 
Elk Grove Town Center
 
Elk Grove Village
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1998
 
131,849

 
92.2
%
 
1,929

 
15.86

 
Joe Caputo & Sons Fruit Market
 
Walgreens
 
 
167
 
Crossroads Centre
 
Fairview Heights
 
IL
 
St. Louis, MO-IL
 
1975
 
242,198

 
86.7
%
 
1,925

 
11.15

 
—
 
Big Lots, Hobby Lobby, T.J.Maxx
 
 
168
 
Frankfort Crossing Shopping Center
Frankfort
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1992
 
114,534

 
96.8
%
 
1,378

 
12.43

 
Jewel-Osco (Albertsons)
 
Ace Hardware
 
 
169
 
Freeport Plaza
 
Freeport
 
IL
 
Freeport, IL
 
2000
 
87,846

 
100.0
%
 
566

 
6.44

 
Cub Foods (Supervalu)
 
Stone's Hallmark
 
 
170
 
Westview Center
 
Hanover Park
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2014
 
326,372

 
91.7
%
 
2,602

 
9.00

 
Tony's Finer Foods
 
Big Lots, LA Fitness
 
Value City
171
 
The Quentin Collection
 
Kildeer
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2006
 
171,530

 
98.8
%
 
2,817

 
16.62

 
The Fresh Market
 
Best Buy, DSW, PetSmart, Stein Mart
 
 
172
 
Butterfield Square
 
Libertyville
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2013
 
106,755

 
94.2
%
 
1,497

 
14.89

 
Sunset Foods
 
—
 
 
173
 
High Point Centre
 
Lombard
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1992
 
240,046

 
81.9
%
 
1,948

 
9.91

 
Ultra Foods
 
Babies"R"Us, Jo-Ann Fabrics, Office Depot
 
 
174
 
Long Meadow Commons
 
Mundelein
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1997
 
118,470

 
87.1
%
 
1,529

 
16.12

 
—
 
—
 
 
175
 
Westridge Court
 
Naperville
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2013
 
673,082

 
94.6
%
 
6,945

 
10.91

 
—
 
Big Lots, buybuy BABY, Carson Pirie Scott Furniture Gallery, Gordmans, hhgregg, Hollywood Palms Cinema, Marshalls, Old Navy, Savers, Ulta
 
 
176
 
Sterling Bazaar
 
Peoria
 
IL
 
Peoria, IL
 
1992
 
87,318

 
95.5
%
 
796

 
10.12

 
Kroger
 
—
 
 
177
 
Rollins Crossing
 
Round Lake Beach
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1998
 
192,911

 
94.1
%
 
1,796

 
16.49

 
—
 
LA Fitness, Regal Cinemas
 
 
178
 
Twin Oaks Shopping Center
 
Silvis
 
IL
 
Davenport-Moline-Rock Island, IA-IL
 
1991
 
114,342

 
96.4
%
 
709

 
6.43

 
Hy-Vee
 
Eye Surgeons Associates
 
 
179
 
Parkway Pointe
 
Springfield
 
IL
 
Springfield, IL
 
1994
 
38,737

 
85.9
%
 
572

 
17.18

 
ALDI*
 
dressbarn, Family Christian Stores, Shoe Carnival
 
Target, Walmart
180
 
Sangamon Center North
 
Springfield
 
IL
 
Springfield, IL
 
1996
 
139,907

 
94.9
%
 
1,235

 
9.30

 
Schnucks
 
U.S. Post Office
 
 
181
 
Tinley Park Plaza
 
Tinley Park
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2005
 
249,954

 
89.5
%
 
2,428

 
10.85

 
Walt's Fine Foods
 
Tile Shop
 
 
182
 
Meridian Village Plaza
 
Carmel
 
IN
 
Indianapolis-Carmel-Anderson, IN
 
1990
 
130,769

 
89.2
%
 
700

 
6.00

 
—
 
Godby Home Furnishings, Ollie's Bargain Outlet
 
 
183
 
Columbus Center
 
Columbus
 
IN
 
Columbus, IN
 
2005
 
143,703

 
94.8
%
 
1,395

 
10.25

 
—
 
Big Lots, MC Sports, OfficeMax, T.J.Maxx
 
Target
184
 
Elkhart Plaza West
 
Elkhart
 
IN
 
Elkhart-Goshen, IN
 
1997
 
81,651

 
93.2
%
 
591

 
7.76

 
Martin's Super Market
 
CVS
 
 
185
 
Apple Glen Crossing
 
Fort Wayne
 
IN
 
Fort Wayne, IN
 
2002
 
150,156

 
94.0
%
 
1,832

 
16.43

 
Walmart Supercenter*
 
Best Buy, Dick's Sporting Goods, PetSmart
 
Kohl's
186
 
Elkhart Market Centre
 
Goshen
 
IN
 
Elkhart-Goshen, IN
 
1994
 
363,883

 
99.2
%
 
2,267

 
6.28

 
Sam's Club
 
Walmart
 
 
187
 
Marwood Plaza
 
Indianapolis
 
IN
 
Indianapolis-Carmel-Anderson, IN
 
1992
 
107,080

 
82.1
%
 
681

 
7.75

 
Kroger
 
Rainbow
 
 
188
 
Westlane Shopping Center
 
Indianapolis
 
IN
 
Indianapolis-Carmel-Anderson, IN
 
1982
 
71,490

 
97.5
%
 
484

 
6.95

 
Marsh Supermarket
 
Family Dollar
 
 
189
 
Valley View Plaza
 
Marion
 
IN
 
Marion, IN
 
1997
 
29,974

 
79.0
%
 
306

 
12.94

 
Walmart Supercenter*
 
Aaron's
 
 
190
 
Bittersweet Plaza
 
Mishawaka
 
IN
 
South Bend-Mishawaka, IN-MI
 
2000
 
91,798

 
91.3
%
 
709

 
8.46

 
Martin's Super Market
 
—
 
 
191
 
Lincoln Plaza
 
New Haven
 
IN
 
Fort Wayne, IN
 
1968
 
103,938

 
58.4
%
 
500

 
8.23

 
Kroger
 
—
 
 
192
 
Speedway Super Center
 
Speedway
 
IN
 
Indianapolis-Carmel-Anderson, IN
 
2010
 
574,210

 
85.0
%
 
4,176

 
8.91

 
Kroger
 
Kohl's, Sears Outlet, T.J.Maxx
 
 
193
 
Sagamore Park Centre
 
West Lafayette
 
IN
 
Lafayette-West Lafayette, IN
 
2003
 
118,300

 
89.8
%
 
1,053

 
9.91

 
Pay Less (Kroger)
 
—
 
 
194
 
Westchester Square
 
Lenexa
 
KS
 
Kansas City, MO-KS
 
1987
 
164,838

 
76.4
%
 
1,114

 
8.84

 
Hy-Vee
 
—
 
 
195
 
West Loop Shopping Center
 
Manhattan
 
KS
 
Manhattan, KS
 
2013
 
211,454

 
95.3
%
 
1,712

 
13.75

 
Dillons (Kroger)
 
Bellus Academy, Jo-Ann Fabric & Craft Stores, Marshalls
 
 
196
 
Green River Plaza
 
Campbellsville
 
KY
 
Campbellsville, KY
 
1989
 
203,239

 
99.0
%
 
1,344

 
6.68

 
Kroger
 
Burke's Outlet, Goody’s, JC Penney, Jo-Ann Fabric & Craft Stores, Tractor Supply Co.
 
 
197
 
Kmart Plaza
 
Elizabethtown
 
KY
 
Elizabethtown-Fort Knox, KY
 
1992
 
130,466

 
100.0
%
 
860

 
6.59

 
—
 
Kmart, Staples
 
 
198
 
Florence Plaza - Florence Square
 
Florence
 
KY
 
Cincinnati, OH-KY-IN
 
2014
 
624,090

 
97.0
%
 
5,844

 
12.71

 
Kroger
 
Barnes & Noble, Harbor Freight Tools, Hobby Lobby, Old Navy, Ollie's Bargain Outlet, Staples, T.J.Maxx
 
 
199
 
Highland Commons
 
Glasgow
 
KY
 
Glasgow, KY
 
1992
 
130,466

 
98.9
%
 
747

 
5.79

 
Food Lion
 
Kmart
 
 
200
 
Jeffersontown Commons
 
Jeffersontown
 
KY
 
Louisville/Jefferson County, KY-IN
 
2005
 
208,374

 
83.6
%
 
1,512

 
9.21

 
—
 
King Pin Lanes, Louisville Athletic Club
 
 
201
 
Mist Lake Plaza
 
Lexington
 
KY
 
Lexington-Fayette, KY
 
1993
 
217,292

 
90.7
%
 
1,381

 
7.01

 
—
 
Gabriel Brothers, Walmart
 
 
202
 
London Marketplace
 
London
 
KY
 
London, KY
 
1994
 
169,032

 
100.0
%
 
1,110

 
6.57

 
Kroger
 
Burke's Outlet, Kmart
 
 


Supplemental Disclosure - Three Months Ended June 30, 2014
Page 41




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR / SF
 
Grocer (1)
 
Other Major Tenants
 
Non-Owned Major Tenants
203
 
Eastgate Shopping Center
 
Louisville
 
KY
 
Louisville/Jefferson County, KY-IN
 
2002
 
174,947

 
96.5
%
 
1,633

 
9.67

 
Kroger
 
—
 
 
204
 
Plainview Village
 
Louisville
 
KY
 
Louisville/Jefferson County, KY-IN
 
1997
 
164,367

 
91.4
%
 
1,383

 
9.74

 
Kroger
 
—
 
 
205
 
Stony Brook I & II
 
Louisville
 
KY
 
Louisville/Jefferson County, KY-IN
 
1988
 
136,919

 
91.0
%
 
1,612

 
12.93

 
Kroger
 
—
 
 
206
 
Towne Square North
 
Owensboro
 
KY
 
Owensboro, KY
 
1988
 
163,161

 
100.0
%
 
1,162

 
7.12

 
—
 
Books-A-Million, Hobby Lobby, Office Depot
 
 
207
 
Lexington Road Plaza
 
Versailles
 
KY
 
Lexington-Fayette, KY
 
2007
 
197,668

 
100.0
%
 
1,440

 
7.28

 
Kroger
 
Kmart
 
 
208
 
Karam Shopping Center
 
Lafayette
 
LA
 
Lafayette, LA
 
1998
 
100,238

 
83.8
%
 
236

 
2.81

 
Super 1 Foods
 
Conn's
 
 
209
 
Iberia Plaza
 
New Iberia
 
LA
 
Lafayette, LA
 
1992
 
131,731

 
97.5
%
 
748

 
5.82

 
Super 1 Foods
 
—
 
 
210
 
Lagniappe Village
 
New Iberia
 
LA
 
Lafayette, LA
 
2010
 
201,360

 
96.9
%
 
1,475

 
7.56

 
—
 
Big Lots, Citi Trends, Stage, T.J.Maxx
 
 
211
 
The Pines
 
Pineville
 
LA
 
Alexandria, LA
 
1991
 
179,039

 
97.8
%
 
1,076

 
6.15

 
Super 1 Foods
 
Kmart
 
 
212
 
Points West
 
Brockton
 
MA
 
Boston-Cambridge-Newton, MA-NH
 
2007
 
133,432

 
86.4
%
 
971

 
8.42

 
PriceRite (ShopRite)
 
Ocean State Job Lot
 
 
213
 
Burlington Square I, II & III
 
Burlington
 
MA
 
Boston-Cambridge-Newton, MA-NH
 
1992
 
86,290

 
100.0
%
 
2,021

 
23.42

 
—
 
Golf Galaxy, Pyara Aveda Spa & Salon, Staples
 
 
214
 
Chicopee Marketplace
 
Chicopee
 
MA
 
Springfield, MA
 
2005
 
150,959

 
100.0
%
 
2,487

 
17.07

 
Walmart Supercenter*
 
Marshalls, Staples
 
 
215
 
Holyoke Shopping Center
 
Holyoke
 
MA
 
Springfield, MA
 
2000
 
201,875

 
90.9
%
 
1,364

 
10.90

 
Super Stop & Shop (Ahold)
 
Ocean State Job Lot
 
 
216
 
WaterTower Plaza
 
Leominster
 
MA
 
Worcester, MA-CT
 
2000
 
282,591

 
97.9
%
 
3,788

 
13.69

 
Shaw's (Albertsons)
 
Ocean State Job Lot, T.J.Maxx
 
 
217
 
Lunenberg Crossing
 
Lunenburg
 
MA
 
Worcester, MA-CT
 
1994
 
25,515

 
47.1
%
 
205

 
17.05

 
Hannaford Bros. (Delhaize)*
 
—
 
Walmart
218
 
Lynn Marketplace
 
Lynn
 
MA
 
Boston-Cambridge-Newton, MA-NH
 
1968
 
78,092

 
100.0
%
 
1,090

 
13.96

 
Shaw's (Albertsons)
 
Rainbow
 
 
219
 
Berkshire Crossing
 
Pittsfield
 
MA
 
Pittsfield, MA
 
1994
 
442,578

 
99.9
%
 
3,795

 
19.50

 
Price Chopper
 
Barnes & Noble, The Home Depot, Michael's, Staples, Ulta, Walmart
 
 
220
 
Westgate Plaza
 
Westfield
 
MA
 
Springfield, MA
 
1996
 
103,903

 
98.7
%
 
1,131

 
11.36

 
—
 
Ocean State Job Lot, Staples, T.J.Maxx
 
 
221
 
Perkins Farm Marketplace
 
Worcester
 
MA
 
Worcester, MA-CT
 
1998
 
204,038

 
67.9
%
 
1,707

 
12.32

 
Super Stop & Shop (Ahold)
 
CW Price
 
 
222
 
South Plaza Shopping Center
 
California
 
MD
 
California-Lexington Park, MD
 
2005
 
92,335

 
100.0
%
 
1,662

 
18.00

 
—
 
Best Buy, Old Navy, Petco, Ross Dress for Less
 
 
223
 
Campus Village
 
College Park
 
MD
 
Washington-Arlington-Alexandria, DC-VA-MD-WV
1986
 
25,529

 
89.0
%
 
600

 
26.40

 
—
 
—
 
 
224
 
Fox Run
 
Prince Frederick
 
MD
 
Washington-Arlington-Alexandria, DC-VA-MD-WV
1997
 
292,849

 
96.5
%
 
2,860

 
10.13

 
Giant Food (Ahold)
 
Jo-Ann Fabric & Craft Stores, Kmart, Peebles
 
 
225
 
Liberty Plaza
 
Randallstown
 
MD
 
Baltimore-Columbia-Towson, MD
 
2012
 
219,862

 
99.5
%
 
2,673

 
12.21

 
Walmart Supercenter
 
Marshalls
 
 
226
 
Rising Sun Towne Centre
 
Rising Sun
 
MD
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2013
 
141,702

 
94.9
%
 
1,659

 
12.65

 
Martin's Food (Ahold)
 
Big Lots
 
 
227
 
BJ's Plaza
 
Portland
 
ME
 
Portland-South Portland, ME
 
1991
 
104,233

 
100.0
%
 
803

 
7.70

 
BJ’s Wholesale Club
 
—
 
 
228
 
Pine Tree Shopping Center
 
Portland
 
ME
 
Portland-South Portland, ME
 
1958
 
287,513

 
90.1
%
 
1,796

 
19.84

 
—
 
Big Lots, Lowe's
 
 
229
 
Maple Village
 
Ann Arbor
 
MI
 
Ann Arbor, MI
 
2000
 
293,525

 
98.3
%
 
2,546

 
8.82

 
Plum Market
 
Dunham's Sports, Kmart
 
 
230
 
Grand Crossing
 
Brighton
 
MI
 
Detroit-Warren-Dearborn, MI
 
2005
 
85,389

 
93.2
%
 
788

 
9.90

 
VG's Food (SpartanNash)
 
ACO Hardware
 
 
231
 
Farmington Crossroads
 
Farmington
 
MI
 
Detroit-Warren-Dearborn, MI
 
2013
 
87,391

 
91.8
%
 
756

 
9.43

 
—
 
Dollar Tree, Ollie's Bargain Outlet, True Value
 
 
232
 
Silver Pointe Shopping Center
 
Fenton
 
MI
 
Flint, MI
 
1996
 
163,919

 
78.2
%
 
1,608

 
12.55

 
VG's Food (SpartanNash)
 
Dunham's Sports
 
 
233
 
Cascade East
 
Grand Rapids
 
MI
 
Grand Rapids-Wyoming, MI
 
1983
 
99,529

 
76.7
%
 
552

 
7.24

 
D&W Fresh Market (SpartanNash)
 
—
 
 
234
 
Delta Center
 
Lansing
 
MI
 
Lansing-East Lansing, MI
 
2005
 
186,246

 
92.5
%
 
1,284

 
7.92

 
—
 
Bed Bath & Beyond, Gift & Bible Center, Hobby Lobby, Planet Fitness
 
 
235
 
Lakes Crossing
 
Muskegon
 
MI
 
Muskegon, MI
 
2011
 
114,623

 
81.4
%
 
1,265

 
14.84

 
—
 
Jo-Ann Fabric & Craft Stores, Party City
 
Kohl's
236
 
Redford Plaza
 
Redford
 
MI
 
Detroit-Warren-Dearborn, MI
 
1992
 
304,175

 
82.8
%
 
2,293

 
9.11

 
Kroger
 
Burlington Coat Factory, CW Price
 
 
237
 
Hampton Village Centre
 
Rochester Hills
 
MI
 
Detroit-Warren-Dearborn, MI
 
2004
 
454,719

 
99.7
%
 
5,687

 
16.42

 
—
 
Best Buy, Emagine Theatre, Kohl's, T.J.Maxx
 
Target
238
 
Fashion Corners
 
Saginaw
 
MI
 
Saginaw, MI
 
2004
 
187,832

 
95.5
%
 
1,724

 
9.61

 
—
 
Bed Bath & Beyond, Best Buy, Dunham's Sports
 
 
239
 
Green Acres
 
Saginaw
 
MI
 
Saginaw, MI
 
2011
 
281,646

 
75.5
%
 
1,449

 
11.50

 
Kroger
 
Ollie's Bargain Outlet, Planet Fitness
 
 
240
 
Hall Road Crossing
 
Shelby Township
 
MI
 
Detroit-Warren-Dearborn, MI
 
1999
 
175,503

 
100.0
%
 
2,289

 
13.04

 
—
 
Gander Mountain, Michaels, Old Navy, T.J.Maxx
 
 
241
 
Southfield Plaza
 
Southfield
 
MI
 
Detroit-Warren-Dearborn, MI
 
2002
 
106,948

 
76.6
%
 
866

 
10.56

 
—
 
Dollar Castle, Planet Fitness
 
Burlington Coat Factory
242
 
18 Ryan
 
Sterling Heights
 
MI
 
Detroit-Warren-Dearborn, MI
 
1997
 
101,709

 
100.0
%
 
1,427

 
14.03

 
VG's Food (SpartanNash)
 
O'Reilly Auto Parts, Planet Fitness
 
 
243
 
Delco Plaza
 
Sterling Heights
 
MI
 
Detroit-Warren-Dearborn, MI
 
1996
 
154,853

 
100.0
%
 
885

 
5.72

 
—
 
Babies"R"Us, Bed Bath & Beyond, Dunham's Mega Sports
 
 
244
 
Grand Traverse Crossing
 
Traverse City
 
MI
 
Traverse City, MI
 
1996
 
412,755

 
96.9
%
 
2,646

 
27.57

 
Walmart Supercenter
 
Books-A-Million, The Home Depot
 
 
245
 
West Ridge
 
Westland
 
MI
 
Detroit-Warren-Dearborn, MI
 
1989
 
163,131

 
75.6
%
 
887

 
7.19

 
—
 
Bargain Club, Office Solutions, The Tile Shop
 
Burlington Coat Factory, Target
246
 
Roundtree Place
 
Ypsilanti
 
MI
 
Ann Arbor, MI
 
1992
 
246,620

 
97.6
%
 
1,649

 
6.85

 
—
 
Ollie's Bargain Outlet, Walmart
 
 
247
 
Washtenaw Fountain Plaza
 
Ypsilanti
 
MI
 
Ann Arbor, MI
 
2005
 
123,390

 
90.9
%
 
769

 
6.86

 
Save-A-Lot
 
Dollar Tree, Dunham's Sports, Planet Fitness
 
 
248
 
Southport Centre I - VI
 
Apple Valley
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
1985
 
124,937

 
100.0
%
 
2,048

 
16.39

 
SuperTarget*
 
Best Buy, Dollar Tree, Walgreens
 
 
249
 
Austin Town Center
 
Austin
 
MN
 
Austin, MN
 
1999
 
110,680

 
95.1
%
 
740

 
7.03

 
ALDI
 
Jo-Ann Fabric & Craft Stores, Staples
 
Target
250
 
Burning Tree Plaza
 
Duluth
 
MN
 
Duluth, MN-WI
 
1987
 
182,969

 
98.6
%
 
1,858

 
10.30

 
—
 
Best Buy, Dunham's Sports, T.J.Maxx
 
 
251
 
Elk Park Center
 
Elk River
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
1999
 
204,992

 
93.9
%
 
1,951

 
10.13

 
Cub Foods (Jerry's Foods)
 
OfficeMax
 
 
252
 
Westwind Plaza
 
Minnetonka
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
2007
 
87,942

 
93.6
%
 
1,195

 
14.52

 
Cub Foods (Supervalu)*
 
—
 
 
253
 
Richfield Hub & West Shopping Ctr
 
Richfield
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
1992
 
215,334

 
79.2
%
 
2,045

 
11.99

 
Rainbow Foods (Roundy's)
 
Marshalls, Michaels
 
 
254
 
Roseville Center
 
Roseville
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
2000
 
76,894

 
75.3
%
 
829

 
14.32

 
Rainbow Foods (Roundy's)*
 
Dollar Tree, Hancock Fabrics
 
 


Supplemental Disclosure - Three Months Ended June 30, 2014
Page 42




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR / SF
 
Grocer (1)
 
Other Major Tenants
 
Non-Owned Major Tenants
255
 
Marketplace @ 42
 
Savage
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
1999
 
117,873

 
92.6
%
 
1,450

 
13.28

 
Rainbow Foods (Roundy's)
 
—
 
 
256
 
Sun Ray Shopping Center
 
St. Paul
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
2013
 
290,392

 
88.2
%
 
2,250

 
11.82

 
Cub Foods (Supervalu)
 
Blast Fitness, T.J.Maxx, Valu Thrift Store
 
 
257
 
White Bear Hills Shopping Center
 
White Bear Lake
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
1996
 
73,095

 
100.0
%
 
691

 
9.46

 
Festival Foods
 
Dollar Tree
 
 
258
 
Ellisville Square
 
Ellisville
 
MO
 
St. Louis, MO-IL
 
1989
 
148,940

 
89.5
%
 
1,119

 
8.40

 
—
 
Kmart, Lukas Liquors
 
 
259
 
Clocktower Place
 
Florissant
 
MO
 
St. Louis, MO-IL
 
2013
 
207,317

 
95.8
%
 
1,434

 
7.34

 
ALDI
 
Florissant Furniture & Rug Gallery, Office Depot, Ross Dress for Less
 
 
260
 
Hub Shopping Center
 
Independence
 
MO
 
Kansas City, MO-KS
 
1995
 
160,423

 
92.9
%
 
800

 
5.73

 
Price Chopper
 
—
 
 
261
 
Watts Mill Plaza
 
Kansas City
 
MO
 
Kansas City, MO-KS
 
1997
 
161,717

 
97.8
%
 
1,450

 
9.17

 
Price Chopper
 
Ace Hardware
 
 
262
 
Liberty Corners
 
Liberty
 
MO
 
Kansas City, MO-KS
 
1987
 
124,808

 
86.0
%
 
843

 
7.86

 
Price Chopper
 
—
 
 
263
 
Maplewood Square
 
Maplewood
 
MO
 
St. Louis, MO-IL
 
1998
 
71,590

 
88.6
%
 
428

 
6.75

 
Shop 'n Save (Supervalu)
 
—
 
 
264
 
Clinton Crossing
 
Clinton
 
MS
 
Jackson, MS
 
1990
 
112,148

 
99.0
%
 
1,052

 
9.75

 
Kroger
 
—
 
 
265
 
County Line Plaza
 
Jackson
 
MS
 
Jackson, MS
 
2014
 
221,127

 
66.8
%
 
1,758

 
11.89

 
—
 
Conn's, Office Depot
 
 
266
 
Jacksonian Plaza
 
Jackson
 
MS
 
Jackson, MS
 
1990
 
73,041

 
82.5
%
 
341

 
5.82

 
Kroger*
 
Books-A-Million, Office Depot
 
 
267
 
Devonshire Place
 
Cary
 
NC
 
Raleigh, NC
 
2012
 
106,691

 
100.0
%
 
1,425

 
24.81

 
—
 
Dollar Tree, Golf Galaxy, REI
 
 
268
 
McMullen Creek Market
 
Charlotte
 
NC
 
Charlotte-Concord-Gastonia, NC-SC
 
2014
 
264,669

 
83.2
%
 
2,639

 
11.99

 
Walmart Neighborhood Market
 
Burlington Coat Factory, Dollar Tree, Rugged Warehouse
 
 
269
 
The Commons at Chancellor Park
 
Charlotte
 
NC
 
Charlotte-Concord-Gastonia, NC-SC
 
2005
 
348,604

 
81.6
%
 
1,865

 
10.42

 
—
 
Big Lots, The Home Depot, Value City Furniture
 
 
270
 
Parkwest Crossing
 
Durham
 
NC
 
Durham-Chapel Hill, NC
 
1990
 
85,602

 
94.9
%
 
813

 
10.01

 
Food Lion
 
Dollar Tree
 
 
271
 
Macon Plaza
 
Franklin
 
NC
 
—
 
2001
 
92,787

 
86.9
%
 
442

 
5.48

 
BI-LO
 
Peebles
 
 
272
 
Garner Towne Square
 
Garner
 
NC
 
Raleigh, NC
 
1997
 
184,347

 
93.5
%
 
2,087

 
12.11

 
Kroger
 
OfficeMax, PetSmart
 
Target, The Home Depot
273
 
Franklin Square
 
Gastonia
 
NC
 
Charlotte-Concord-Gastonia, NC-SC
 
2007
 
318,435

 
88.2
%
 
2,936

 
11.72

 
Walmart Supercenter*
 
Bed Bath & Beyond, Best Buy, Michaels, OfficeMax, Ross Dress for Less
 
 
274
 
Wendover Place
 
Greensboro
 
NC
 
Greensboro-High Point, NC
 
2000
 
406,768

 
96.9
%
 
4,487

 
11.38

 
—
 
Babies"R"Us, Christmas Tree Shops, Dick's Sporting Goods, Kohl's, Michaels, Old Navy, PetSmart
 
Ross Dress for Less, Target
275
 
University Commons
 
Greenville
 
NC
 
Greenville, NC
 
2014
 
233,153

 
98.7
%
 
2,957

 
12.84

 
Harris Teeter (Kroger)
 
A.C. Moore, Barnes & Noble, Petco, T.J.Maxx
 
Target
276
 
Valley Crossing
 
Hickory
 
NC
 
Hickory-Lenoir-Morganton, NC
 
2014
 
191,431

 
100.0
%
 
1,678

 
8.76

 
—
 
Academy Sports + Outdoors, Harbor Freight Tools, Ollie's Bargain Outlet
 
 
277
 
Kinston Pointe
 
Kinston
 
NC
 
Kinston, NC
 
2001
 
250,580

 
98.5
%
 
824

 
13.50

 
Walmart Supercenter
 
Dollar Tree
 
 
278
 
Magnolia Plaza
 
Morganton
 
NC
 
Hickory-Lenoir-Morganton, NC
 
1990
 
104,539

 
40.7
%
 
275

 
6.47

 
Ingles
 
—
 
Walmart
279
 
Roxboro Square
 
Roxboro
 
NC
 
Durham-Chapel Hill, NC
 
2005
 
97,226

 
96.4
%
 
1,207

 
13.75

 
—
 
Person County Health & Human Services
 
 
280
 
Innes Street Market
 
Salisbury
 
NC
 
Charlotte-Concord-Gastonia, NC-SC
 
2002
 
349,425

 
97.7
%
 
3,607

 
10.57

 
Food Lion
 
Lowe's, Marshalls, Old Navy, PetSmart, Staples, Tinseltown
 
 
281
 
Salisbury Marketplace
 
Salisbury
 
NC
 
Charlotte-Concord-Gastonia, NC-SC
 
1987
 
79,732

 
74.3
%
 
650

 
10.97

 
Food Lion
 
Family Dollar
 
 
282
 
Crossroads
 
Statesville
 
NC
 
Charlotte-Concord-Gastonia, NC-SC
 
1997
 
340,189

 
97.0
%
 
1,882

 
5.70

 
Walmart Supercenter
 
Big Lots, Burke's Outlet, Tractor Supply
 
 
283
 
Anson Station
 
Wadesboro
 
NC
 
Charlotte-Concord-Gastonia, NC-SC
 
1988
 
132,353

 
65.5
%
 
572

 
6.59

 
Food Lion
 
Goody's, Tractor Supply Co.
 
 
284
 
New Centre Market
 
Wilmington
 
NC
 
Wilmington, NC
 
1998
 
143,762

 
92.6
%
 
1,685

 
13.03

 
—
 
Marshalls, OfficeMax, PetSmart
 
Target
285
 
University Commons
 
Wilmington
 
NC
 
Wilmington, NC
 
2007
 
235,345

 
97.6
%
 
3,142

 
13.68

 
Lowes Foods
 
A.C. Moore, HomeGoods, T.J.Maxx
 
 
286
 
Whitaker Square
 
Winston Salem
 
NC
 
Winston-Salem, NC
 
1996
 
82,760

 
96.5
%
 
1,039

 
13.01

 
Harris Teeter (Kroger)
 
Rugged Wearhouse
 
 
287
 
Parkway Plaza
 
Winston-Salem
 
NC
 
Winston-Salem, NC
 
2005
 
283,830

 
91.5
%
 
2,745

 
11.13

 
Super Compare Foods
 
Big Lots, Citi Trends, Office Depot
 
 
288
 
Stratford Commons
 
Winston-Salem
 
NC
 
Winston-Salem, NC
 
1995
 
72,308

 
94.8
%
 
963

 
14.05

 
—
 
Golf Galaxy, Mattress Firm, OfficeMax
 
 
289
 
Bedford Grove
 
Bedford
 
NH
 
Manchester-Nashua, NH
 
1989
 
216,941

 
100.0
%
 
2,014

 
20.59

 
Hannaford Bros. (Delhaize)
 
Walmart
 
 
290
 
Capitol Shopping Center
 
Concord
 
NH
 
Concord, NH
 
2001
 
182,887

 
100.0
%
 
1,895

 
10.61

 
DeMoulas Supermarkets
 
Burlington Coat Factory, Jo-Ann Fabric & Craft Stores, Marshalls
 
 
291
 
Willow Springs Plaza
 
Nashua
 
NH
 
Manchester-Nashua, NH
 
1990
 
131,248

 
100.0
%
 
2,095

 
17.40

 
—
 
JC Penney, Jordan's Warehouse, NAMCO, Petco
 
The Home Depot
292
 
Seacoast Shopping Center
 
Seabrook
 
NH
 
Boston-Cambridge-Newton, MA-NH
 
1991
 
91,690

 
92.1
%
 
1,048

 
12.40

 
—
 
Jo-Ann Fabric & Craft Stores
 
 
293
 
Tri-City Plaza
 
Somersworth
 
NH
 
Boston-Cambridge-Newton, MA-NH
 
1990
 
146,811

 
90.8
%
 
1,109

 
8.32

 
DeMoulas Supermarkets
 
T.J.Maxx
 
 
294
 
Laurel Square
 
Brick
 
NJ
 
New York-Newark-Jersey City, NY-NJ-PA
 
2003
 
246,235

 
89.1
%
 
1,655

 
7.55

 
Pathmark (A&P)
 
Kmart
 
 
295
 
the Shoppes at Cinnaminson
 
Cinnaminson
 
NJ
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2010
 
297,837

 
95.4
%
 
4,216

 
21.98

 
ShopRite
 
Burlington Coat Factory, Ross Dress For Less
 
 
296
 
A&P Fresh Market
 
Clark
 
NJ
 
New York-Newark-Jersey City, NY-NJ-PA
 
2007
 
52,812

 
100.0
%
 
1,357

 
25.70

 
A&P Fresh
 
—
 
 
297
 
Collegetown Shopping Center
 
Glassboro
 
NJ
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2014
 
250,515

 
93.6
%
 
1,921

 
8.20

 
—
 
Kmart, LA Fitness, Staples
 
 
298
 
Hamilton Plaza-Kmart Plaza
 
Hamilton
 
NJ
 
Trenton, NJ
 
2014
 
148,919

 
90.7
%
 
825

 
6.11

 
—
 
Kmart
 
 
299
 
Bennetts Mills Plaza
 
Jackson
 
NJ
 
New York-Newark-Jersey City, NY-NJ-PA
 
2002
 
127,230

 
89.2
%
 
1,441

 
31.08

 
Super Stop & Shop (Ahold)
 
—
 
 
300
 
Lakewood Plaza
 
Lakewood
 
NJ
 
New York-Newark-Jersey City, NY-NJ-PA
 
1966
 
203,547

 
96.9
%
 
2,914

 
14.78

 
ShopRite
 
—
 
 
301
 
Marlton Crossing
 
Marlton
 
NJ
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2013
 
333,255

 
97.4
%
 
5,043

 
15.54

 
—
 
Burlington Coat Factory, DSW, HomeGoods, T.J.Maxx
 
 
302
 
Middletown Plaza
 
Middletown
 
NJ
 
New York-Newark-Jersey City, NY-NJ-PA
 
2001
 
197,466

 
100.0
%
 
3,670

 
18.58

 
ShopRite
 
—
 
 
303
 
Old Bridge Gateway
 
Old Bridge
 
NJ
 
New York-Newark-Jersey City, NY-NJ-PA
 
1995
 
242,995

 
84.1
%
 
3,281

 
16.05

 
—
 
Marshalls, Pep Boys, Robert Wood Johnson Fitness
 
 
304
 
Morris Hills Shopping Center
 
Parsippany
 
NJ
 
New York-Newark-Jersey City, NY-NJ-PA
 
1994
 
159,403

 
99.7
%
 
2,860

 
22.95

 
—
 
Blink Fitness (Equinox), Clearview Cinema Group, HomeGoods, Marshalls
 
 


Supplemental Disclosure - Three Months Ended June 30, 2014
Page 43




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR / SF
 
Grocer (1)
 
Other Major Tenants
 
Non-Owned Major Tenants
305
 
Rio Grande Plaza
 
Rio Grande
 
NJ
 
Ocean City, NJ
 
1997
 
141,355

 
94.0
%
 
1,538

 
11.57

 
ShopRite*
 
JC Penney, Peebles, PetSmart
 
 
306
 
Ocean Heights Shopping Center
 
Somers Point
 
NJ
 
Atlantic City-Hammonton, NJ
 
2006
 
179,199

 
99.1
%
 
3,145

 
17.71

 
ShopRite
 
Staples
 
 
307
 
ShopRite Supermarket
 
Springfield
 
NJ
 
New York-Newark-Jersey City, NY-NJ-PA
 
1965
 
32,209

 
100.0
%
 
389

 
12.09

 
ShopRite
 
—
 
 
308
 
Tinton Falls Plaza
 
Tinton Falls
 
NJ
 
New York-Newark-Jersey City, NY-NJ-PA
 
2006
 
98,410

 
83.1
%
 
1,284

 
15.70

 
A&P*
 
Dollar Tree, WOW! Fitness
 
 
309
 
Cross Keys Commons
 
Turnersville
 
NJ
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1996
 
216,428

 
91.1
%
 
3,111

 
15.78

 
Walmart Supercenter*
 
Marshalls, Ross Dress for Less
 
 
310
 
Dover Park Plaza
 
Yardville
 
NJ
 
Trenton, NJ
 
2005
 
56,808

 
84.9
%
 
740

 
15.35

 
—
 
CVS, Dollar Buys
 
 
311
 
St Francis Plaza
 
Santa Fe
 
NM
 
Santa Fe, NM
 
1993
 
35,800

 
100.0
%
 
413

 
11.54

 
Whole Foods Market
 
Walgreens
 
 
312
 
Smith's
 
Socorro
 
NM
 
—
 
1976
 
48,000

 
100.0
%
 
506

 
10.54

 
Smith's (Kroger)
 
—
 
 
313
 
Galleria Commons
 
Henderson
 
NV
 
Las Vegas-Henderson-Paradise, NV
 
2005
 
275,011

 
91.7
%
 
2,672

 
10.60

 
—
 
Babies"R"Us, Burlington Coat Factory, Stein Mart, T.J.Maxx
 
 
314
 
Montecito Marketplace
 
Las Vegas
 
NV
 
Las Vegas-Henderson-Paradise, NV
 
2006
 
190,434

 
100.0
%
 
3,670

 
19.27

 
Smith's (Kroger)
 
T.J.Maxx
 
 
315
 
Renaissance Center East
 
Las Vegas
 
NV
 
Las Vegas-Henderson-Paradise, NV
 
2012
 
144,216

 
75.0
%
 
1,311

 
12.12

 
—
 
Savers
 
 
316
 
Parkway Plaza
 
Carle Place
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1993
 
89,704

 
93.8
%
 
2,203

 
26.19

 
—
 
Minado, Stew Leonard's Wines, T.J.Maxx
 
 
317
 
Kmart Plaza
 
Dewitt
 
NY
 
Syracuse, NY
 
1970
 
115,500

 
94.7
%
 
561

 
22.09

 
—
 
Kmart, OfficeMax
 
 
318
 
Unity Plaza
 
East Fishkill
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2005
 
67,462

 
95.3
%
 
1,350

 
21.01

 
A&P Fresh
 
—
 
 
319
 
Suffolk Plaza
 
East Setauket
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1998
 
84,480

 
98.1
%
 
1,047

 
12.64

 
Waldbaum's (A&P)
 
—
 
Kohl's
320
 
Three Village Shopping Center
 
East Setauket
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1991
 
77,458

 
99.1
%
 
1,820

 
23.72

 
King Kullen
 
Ace Hardware
 
 
321
 
Stewart Plaza
 
Garden City
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1990
 
193,622

 
89.7
%
 
2,587

 
14.90

 
—
 
Burlington Coat Factory, K&G Men's Center
 
 
322
 
Genesee Valley Shopping Center
 
Geneseo
 
NY
 
Rochester, NY
 
2007
 
191,314

 
100.0
%
 
1,840

 
9.89

 
Wegmans
 
Tractor Supply Co.
 
 
323
 
McKinley Plaza
 
Hamburg
 
NY
 
Buffalo-Cheektowaga-Niagara Falls, NY
 
1991
 
93,144

 
97.9
%
 
1,257

 
13.80

 
Wegmans*
 
A.C. Moore, T.J.Maxx
 
 
324
 
Dalewood I, II & III Shopping Center
 
Hartsdale
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2012
 
191,441

 
100.0
%
 
5,880

 
31.38

 
H-Mart, Mrs. Green's Natural Market
 
Christmas Tree Shops, T.J.Maxx
 
 
325
 
Hornell Plaza
 
Hornell
 
NY
 
Corning, NY
 
2005
 
253,335

 
100.0
%
 
2,075

 
8.19

 
Wegmans
 
Walmart
 
 
326
 
Cayuga Mall
 
Ithaca
 
NY
 
Ithaca, NY
 
2013
 
204,830

 
96.7
%
 
1,586

 
8.01

 
—
 
Jo-Ann Fabric & Craft Stores, Party City, Rite Aid, T.J.Maxx, True Value
 
 
327
 
Kings Park Shopping Center
 
Kings Park
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1985
 
71,940

 
98.3
%
 
1,639

 
23.17

 
Key Food Marketplace
 
T.J.Maxx
 
 
328
 
Falcaro's Plaza
 
Lawrence
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1972
 
61,118

 
91.5
%
 
1,095

 
19.58

 
—
 
Advance Auto Parts, OfficeMax
 
 
329
 
Shops at Seneca Mall
 
Liverpool
 
NY
 
Syracuse, NY
 
2005
 
231,024

 
66.7
%
 
710

 
4.61

 
—
 
Big Lots, Kmart
 
 
330
 
A & P Mamaroneck
 
Mamaroneck
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1976
 
24,978

 
100.0
%
 
177

 
—

 
A&P
 
—
 
 
331
 
Village Square
 
Mamaroneck
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1981
 
17,000

 
100.0
%
 
556

 
32.69

 
Trader Joe's
 
—
 
 
332
 
Sunshine Square
 
Medford
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2007
 
223,322

 
91.2
%
 
2,688

 
13.20

 
Super Stop & Shop (Ahold)
 
Planet Fitness, Savers
 
 
333
 
Wallkill Plaza
 
Middletown
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2012
 
209,960

 
87.6
%
 
1,852

 
10.42

 
—
 
Ashley Furniture, Big Lots, Hobby Lobby
 
 
334
 
Monroe ShopRite Plaza
 
Monroe
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1985
 
122,007

 
100.0
%
 
1,853

 
15.19

 
ShopRite
 
Retro Fitness, Rite Aid, U.S. Post Office
 
 
335
 
Rockland Plaza
 
Nanuet
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2006
 
252,537

 
93.7
%
 
5,779

 
24.42

 
A Matter of Health
 
Barnes & Noble, Marshalls, Modell's Sporting Goods, Petco
 
 
336
 
North Ridge Plaza
 
New Rochelle
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1971
 
40,991

 
77.7
%
 
1,150

 
36.07

 
—
 
Harmon Discount
 
 
337
 
Nesconset Shopping Center
 
Port Jefferson Station
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2012
 
122,996

 
97.4
%
 
2,263

 
18.88

 
—
 
Dollar Tree, HomeGoods
 
 
338
 
Port Washington
 
Port Washington
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1968
 
19,600

 
100.0
%
 
112

 
5.69

 
North Shore Farms
 
—
 
 
339
 
Roanoke Plaza
 
Riverhead
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2002
 
99,131

 
100.0
%
 
1,683

 
16.98

 
Best Yet Market
 
CVS, T.J.Maxx
 
 
340
 
Rockville Centre
 
Rockville Centre
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1975
 
44,131

 
100.0
%
 
814

 
18.45

 
—
 
HomeGoods, Rite Aid
 
 
341
 
Mohawk Acres
 
Rome
 
NY
 
Utica-Rome, NY
 
2005
 
159,701

 
87.2
%
 
1,443

 
10.35

 
Price Chopper
 
—
 
 
342
 
College Plaza
 
Selden
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2013
 
175,682

 
96.6
%
 
2,649

 
15.61

 
ShopRite
 
Blink Fitness (Equinox), Bob's Stores, Rite Aid
 
 
343
 
Campus Plaza
 
Vestal
 
NY
 
Binghamton, NY
 
2003
 
160,744

 
95.8
%
 
1,655

 
10.74

 
—
 
Olum's Furniture & Appliances, Staples
 
 
344
 
Parkway Plaza
 
Vestal
 
NY
 
Binghamton, NY
 
2012
 
204,954

 
100.0
%
 
2,069

 
10.10

 
PriceRite (ShopRite)
 
Bed Bath & Beyond, Kohl's, PetSmart
 
Target
345
 
Shoppes at Vestal
 
Vestal
 
NY
 
Binghamton, NY
 
2000
 
92,328

 
100.0
%
 
1,392

 
15.07

 
—
 
HomeGoods, Michaels, Old Navy
 
 
346
 
Town Square Mall
 
Vestal
 
NY
 
Binghamton, NY
 
2012
 
293,080

 
99.4
%
 
4,501

 
15.45

 
Sam's Club*, Walmart Supercenter*
 
Barnes & Noble, Dick's Sporting Goods, Lowes Cinemas, T.J.Maxx
 
 
347
 
The Plaza at Salmon Run
 
Watertown
 
NY
 
Watertown-Fort Drum, NY
 
1993
 
68,761

 
100.0
%
 
690

 
10.03

 
Hannaford Bros. (Delhaize)
 
Pier 1 Imports
 
 
348
 
Highridge Plaza
 
Yonkers
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1977
 
88,501

 
96.8
%
 
1,785

 
20.84

 
Pathmark (A&P)
 
—
 
 
349
 
Brunswick Town Center
 
Brunswick
 
OH
 
Cleveland-Elyria, OH
 
2004
 
138,407

 
96.3
%
 
1,778

 
13.34

 
Giant Eagle
 
—
 
The Home Depot
350
 
30th Street Plaza
 
Canton
 
OH
 
Canton-Massillon, OH
 
1999
 
157,055

 
86.3
%
 
1,393

 
10.28

 
Giant Eagle, Marc's
 
—
 
 
351
 
Brentwood Plaza
 
Cincinnati
 
OH
 
Cincinnati, OH-KY-IN
 
2004
 
227,952

 
97.2
%
 
2,224

 
10.41

 
Kroger
 
Conway
 
 
352
 
Delhi Shopping Center
 
Cincinnati
 
OH
 
Cincinnati, OH-KY-IN
 
2012
 
169,970

 
95.4
%
 
1,428

 
8.99

 
Kroger
 
Salvation Army
 
 
353
 
Harpers Station
 
Cincinnati
 
OH
 
Cincinnati, OH-KY-IN
 
2014
 
244,243

 
94.4
%
 
2,945

 
12.78

 
Fresh Thyme Farmers Market
 
HomeGoods, LA Fitness, Stein Mart, T.J.Maxx
 
 
354
 
Western Hills Plaza
 
Cincinnati
 
OH
 
Cincinnati, OH-KY-IN
 
2011
 
314,754

 
100.0
%
 
3,698

 
12.08

 
—
 
Bed Bath & Beyond, Michaels, Sears, Staples, T.J.Maxx
 
Target
355
 
Western Village
 
Cincinnati
 
OH
 
Cincinnati, OH-KY-IN
 
2005
 
115,116

 
100.0
%
 
1,082

 
9.40

 
Kroger
 
—
 
 
356
 
Crown Point
 
Columbus
 
OH
 
Columbus, OH
 
1998
 
145,115

 
83.9
%
 
1,177

 
9.67

 
Kroger
 
—
 
 
357
 
Greentree Shopping Center
 
Columbus
 
OH
 
Columbus, OH
 
2005
 
130,712

 
81.2
%
 
1,053

 
10.73

 
Kroger
 
—
 
 


Supplemental Disclosure - Three Months Ended June 30, 2014
Page 44




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR / SF
 
Grocer (1)
 
Other Major Tenants
 
Non-Owned Major Tenants
358
 
Brandt Pike Place
 
Dayton
 
OH
 
Dayton, OH
 
2008
 
17,900

 
100.0
%
 
165

 
9.22

 
Kroger*
 
—
 
 
359
 
South Towne Centre
 
Dayton
 
OH
 
Dayton, OH
 
2013
 
331,797

 
94.8
%
 
3,953

 
13.53

 
Health Foods Unlimited
 
Burlington Coat Factory, Christmas Tree Shops, Jo-Ann Fabric & Craft Stores, Value City Furniture
 
 
360
 
The Vineyards
 
Eastlake
 
OH
 
Cleveland-Elyria, OH
 
1989
 
144,820

 
86.6
%
 
721

 
5.75

 
Good Cents Grocery + More (Giant Eagle)
 
Harbor Freight Tools
 
Walmart
361
 
Midway Market Square
 
Elyria
 
OH
 
Cleveland-Elyria, OH
 
2014
 
232,252

 
86.0
%
 
2,310

 
11.56

 
Giant Eagle
 
Dick's Sporting Goods, Jo-Ann Fabric & Craft Stores
 
Target, The Home Depot
362
 
Southland Shopping Center
 
Middleburg Heights
OH
 
Cleveland-Elyria, OH
 
2013
 
696,359

 
93.1
%
 
6,109

 
9.42

 
BJ's Wholesale Club, Giant Eagle, Marc's
 
Burlington Coat Factory, Cleveland Furniture Bank, Jo-Ann Fabric & Craft Stores, Marshalls
 
 
363
 
Tops Plaza
 
North Olmsted
 
OH
 
Cleveland-Elyria, OH
 
2002
 
70,003

 
100.0
%
 
1,056

 
15.08

 
—
 
—
 
 
364
 
Tops Plaza
 
North Ridgeville
 
OH
 
Cleveland-Elyria, OH
 
2002
 
60,830

 
90.8
%
 
805

 
14.57

 
—
 
Pat Catan's Craft Centers
 
 
365
 
Surrey Square Mall
 
Norwood
 
OH
 
Cincinnati, OH-KY-IN
 
2010
 
173,656

 
94.0
%
 
1,988

 
25.17

 
Kroger
 
Marshalls
 
 
366
 
Market Place
 
Piqua
 
OH
 
Dayton, OH
 
2012
 
182,824

 
92.5
%
 
647

 
6.80

 
Kroger
 
Roses
 
 
367
 
Brice Park
 
Reynoldsburg
 
OH
 
Columbus, OH
 
1989
 
158,565

 
83.2
%
 
1,180

 
9.80

 
—
 
Ashley Furniture, Michaels
 
 
368
 
Streetsboro Crossing
 
Streetsboro
 
OH
 
Akron, OH
 
2002
 
89,436

 
100.0
%
 
674

 
7.54

 
Giant Eagle
 
—
 
Lowe's
369
 
Miracle Mile Shopping Plaza
 
Toledo
 
OH
 
Toledo, OH
 
1955
 
318,174

 
68.7
%
 
1,351

 
6.18

 
Kroger
 
Big Lots
 
 
370
 
Southland Shopping Plaza
 
Toledo
 
OH
 
Toledo, OH
 
1988
 
290,892

 
80.6
%
 
1,441

 
6.14

 
Kroger
 
Big Lots, Planet Fitness, Shopper's World
 
 
371
 
Wadsworth Crossings
 
Wadsworth
 
OH
 
Cleveland-Elyria, OH
 
2005
 
108,166

 
94.1
%
 
1,572

 
15.45

 
—
 
Bed Bath & Beyond, MC Sports, OfficeMax, Petco
 
Kohl's, Lowe's, Target
372
 
Northgate Plaza
 
Westerville
 
OH
 
Columbus, OH
 
2008
 
12,819

 
100.0
%
 
196

 
15.26

 
Kroger*
 
—
 
The Home Depot
373
 
Marketplace
 
Tulsa
 
OK
 
Tulsa, OK
 
1992
 
186,851

 
100.0
%
 
1,760

 
9.42

 
—
 
Conn's, Drysdales, PetSmart
 
Best Buy, JC Penney Home Store
374
 
Village West
 
Allentown
 
PA
 
Allentown-Bethlehem-Easton, PA-NJ
 
1999
 
140,474

 
99.4
%
 
2,462

 
17.64

 
Giant Food (Ahold)
 
—
 
 
375
 
Park Hills Plaza
 
Altoona
 
PA
 
Altoona, PA
 
1985
 
279,746

 
91.8
%
 
1,915

 
7.46

 
Weis Markets
 
Dunham's Sports, Petco, Toys"R"Us
 
 
376
 
Bensalem Square
 
Bensalem
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1986
 
70,378

 
100.0
%
 
681

 
9.68

 
Redner's Warehouse Market
 
—
 
 
377
 
Bethel Park
 
Bethel Park
 
PA
 
Pittsburgh, PA
 
2004
 
218,714

 
95.7
%
 
1,613

 
8.50

 
Giant Eagle
 
Walmart
 
 
378
 
Bethlehem Square
 
Bethlehem
 
PA
 
Allentown-Bethlehem-Easton, PA-NJ
 
1994
 
389,450

 
100.0
%
 
3,637

 
9.34

 
Giant Food (Ahold)
 
The Home Depot, T.J.Maxx, Walmart
 
 
379
 
Lehigh Shopping Center
 
Bethlehem
 
PA
 
Allentown-Bethlehem-Easton, PA-NJ
 
2013
 
378,358

 
94.6
%
 
3,067

 
10.83

 
Giant Food (Ahold)
 
Big Lots, Mega Marshalls, PetSmart, Staples, Wells Fargo
 
 
380
 
Boyertown Shopping Center
 
Boyertown
 
PA
 
Reading, PA
 
2012
 
83,229

 
73.2
%
 
636

 
10.44

 
—
 
Advance Auto Parts, Big Lots, CVS
 
 
381
 
Bristol Park
 
Bristol
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2013
 
276,653

 
99.4
%
 
2,351

 
8.55

 
Walmart Supercenter
 
Ollie's Bargain Outlet
 
 
382
 
Chalfont Village Shopping Center
 
Chalfont
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1989
 
46,051

 
82.4
%
 
445

 
11.73

 
—
 
—
 
 
383
 
New Britain Village Square
 
Chalfont
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1989
 
143,716

 
95.4
%
 
2,325

 
16.95

 
Giant Food (Ahold)
 
—
 
 
384
 
Collegeville Shopping Center
 
Collegeville
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2004
 
110,696

 
52.0
%
 
813

 
14.12

 
—
 
Pep Boys
 
 
385
 
Whitemarsh Shopping Center
 
Conshohocken
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2002
 
67,476

 
100.0
%
 
1,352

 
20.04

 
Giant Food (Ahold)
 
Wine & Spirits Shoppe
 
 
386
 
Valley Fair
 
Devon
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2001
 
105,086

 
100.0
%
 
1,004

 
9.56

 
—
 
Chuck E. Cheese's, Mealey's Furniture
 
 
387
 
Dickson City Crossings
 
Dickson City
 
PA
 
Scranton--Wilkes-Barre--Hazleton, PA
 
1997
 
301,462

 
100.0
%
 
3,089

 
15.62

 
—
 
Dick's Sporting Goods, hhgregg, PetSmart, The Home Depot, T.J.Maxx
 
 
388
 
Dillsburg Shopping Center
 
Dillsburg
 
PA
 
York-Hanover, PA
 
2014
 
153,088

 
100.0
%
 
1,903

 
12.66

 
Giant Food (Ahold)
 
Tractor Supply Co.
 
 
389
 
Barn Plaza
 
Doylestown
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2002
 
237,681

 
97.2
%
 
3,093

 
13.39

 
—
 
Kohl's, Marshalls, Regal Cinemas
 
 
390
 
Pilgrim Gardens
 
Drexel Hill
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2014
 
79,252

 
88.9
%
 
1,022

 
14.51

 
—
 
Dollar Tree, Ross Dress for Less
 
 
391
 
Gilbertsville Shopping Center
 
Gilbertsville
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2002
 
85,748

 
91.7
%
 
694

 
8.83

 
Weis Markets
 
—
 
 
392
 
Mount Carmel Plaza
 
Glenside
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1975
 
14,504

 
89.7
%
 
152

 
11.72

 
—
 
SGS Paper
 
 
393
 
Kline Plaza
 
Harrisburg
 
PA
 
Harrisburg-Carlisle, PA
 
1952
 
220,288

 
87.4
%
 
1,743

 
9.05

 
Giant Food (Ahold)
 
The Dept. of Health
 
 
394
 
New Garden Shopping Center
 
Kennett Square
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2012
 
145,170

 
93.7
%
 
932

 
7.01

 
—
 
Big Lots, Ollie's Bargain Outlet
 
 
395
 
Stone Mill Plaza
 
Lancaster
 
PA
 
Lancaster, PA
 
2008
 
106,736

 
100.0
%
 
1,272

 
11.91

 
Giant Food (Ahold)
 
Majik Rent-To-Own
 
 
396
 
Woodbourne Square
 
Langhorne
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1984
 
29,821

 
80.9
%
 
497

 
20.61

 
—
 
—
 
 
397
 
North Penn Market Place
 
Lansdale
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1977
 
58,358

 
60.6
%
 
680

 
21.41

 
Weis Markets*
 
—
 
 
398
 
New Holland Shopping Center
 
New Holland
 
PA
 
Lancaster, PA
 
1995
 
65,878

 
88.0
%
 
419

 
7.23

 
Amelia's Grocery Outlet
 
Family Dollar
 
 
399
 
Village at Newtown
 
Newtown
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1989
 
177,185

 
96.3
%
 
4,097

 
24.01

 
McCaffrey's
 
Pier 1 Imports
 
 
400
 
Cherry Square
 
Northampton
 
PA
 
Allentown-Bethlehem-Easton, PA-NJ
 
1989
 
75,005

 
94.9
%
 
676

 
9.49

 
Redner's Warehouse Market
 
—
 
 
401
 
Ivyridge
 
Philadelphia
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2006
 
107,318

 
100.0
%
 
2,269

 
21.14

 
SuperFresh (A&P)
 
—
 
 
402
 
Roosevelt Mall
 
Philadelphia
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2011
 
561,781

 
99.2
%
 
7,457

 
31.09

 
—
 
Macy's, Modell's Sporting Goods, Ross Dress For Less
 
 
403
 
Shoppes at Valley Forge
 
Phoenixville
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2003
 
176,676

 
97.6
%
 
1,268

 
7.35

 
Redner's Warehouse Market
 
French Creek Outfitters, Staples
 
 
404
 
Plymouth Plaza
 
Plymouth Meeting
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1994
 
33,813

 
95.8
%
 
966

 
29.81

 
—
 
Clear Wireless, Medical Rehabilitation Centers of Pennsylvania
 
 
405
 
County Line Plaza
 
Souderton
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2013
 
154,758

 
91.6
%
 
1,428

 
10.49

 
Bottom Dollar Food (Delhaize)
 
Planet Fitness, VF Outlet
 
 
406
 
69th Street Plaza
 
Upper Darby
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1994
 
41,711

 
100.0
%
 
383

 
9.19

 
Pathmark (A&P)*
 
EZ Bargains, Rent-A-Center, Super Dollar City
 
 
407
 
Warminster Towne Center
 
Warminster
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1997
 
237,152

 
100.0
%
 
3,320

 
15.19

 
ShopRite
 
A.C. Moore, PetSmart, Ross Dress for Less
 
 


Supplemental Disclosure - Three Months Ended June 30, 2014
Page 45




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR / SF
 
Grocer (1)
 
Other Major Tenants
 
Non-Owned Major Tenants
408
 
Shops at Prospect
 
West Hempfield
 
PA
 
Lancaster, PA
 
1994
 
63,392

 
94.1
%
 
684

 
11.47

 
Musser's Markets
 
Hallmark
 
Kmart
409
 
Whitehall Square
 
Whitehall
 
PA
 
Allentown-Bethlehem-Easton, PA-NJ
 
2006
 
315,192

 
98.1
%
 
3,404

 
11.01

 
Redner's Warehouse Market
 
Mealey's Furniture, Ross Dress for Less, Sports Authority
 
 
410
 
Wilkes-Barre Township Marketplace
Wilkes-Barre
 
PA
 
Scranton--Wilkes-Barre--Hazleton, PA
 
2004
 
307,610

 
100.0
%
 
2,115

 
27.52

 
Walmart Supercenter
 
—
 
 
411
 
Hunt River Commons
 
North Kingstown
 
RI
 
Providence-Warwick, RI-MA
 
1989
 
148,126

 
99.1
%
 
1,470

 
10.02

 
Super Stop & Shop (Ahold)
 
Marshalls, Ocean State Job Lot
 
 
412
 
Belfair Towne Village
 
Bluffton
 
SC
 
Hilton Head Island-Bluffton-Beaufort, SC
 
2006
 
166,639

 
94.5
%
 
2,182

 
13.86

 
Kroger
 
Stein Mart
 
 
413
 
Milestone Plaza
 
Greenville
 
SC
 
Greenville-Anderson-Mauldin, SC
 
1995
 
89,721

 
90.6
%
 
1,223

 
15.05

 
BI-LO
 
—
 
 
414
 
Circle Center
 
Hilton Head
 
SC
 
Hilton Head Island-Bluffton-Beaufort, SC
 
2000
 
65,213

 
91.6
%
 
693

 
11.60

 
BI-LO
 
—
 
 
415
 
Island Plaza
 
James Island
 
SC
 
Charleston-North Charleston, SC
 
2004
 
171,224

 
100.0
%
 
1,286

 
7.51

 
Food Lion
 
Burke's Outlet, Dollar Tree, Gold's Gym
 
 
416
 
Festival Centre
 
North Charleston
 
SC
 
Charleston-North Charleston, SC
 
2004
 
325,347

 
73.0
%
 
1,377

 
5.88

 
—
 
Fred's, Gold's Gym, Intercontinental Hotels Group, World Overcomers Ministries
 
 
417
 
Remount Village Shopping Center
 
North Charleston
 
SC
 
Charleston-North Charleston, SC
 
1996
 
60,238

 
79.0
%
 
435

 
9.15

 
BI-LO
 
—
 
 
418
 
Fairview Corners I & II
 
Simpsonville
 
SC
 
Greenville-Anderson-Mauldin, SC
 
2003
 
131,002

 
98.5
%
 
1,796

 
13.92

 
—
 
Ross Dress for Less, T.J.Maxx
 
Target
419
 
Hillcrest
 
Spartanburg
 
SC
 
Spartanburg, SC
 
2012
 
385,609

 
79.3
%
 
3,125

 
10.88

 
Publix
 
NCG Cinemas ,Marshalls, Office Depot, Petco, Ross Dress for Less, Stein Mart
 
 
420
 
Shoppes at Hickory Hollow
 
Antioch
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
1986
 
144,469

 
83.7
%
 
1,326

 
10.96

 
Kroger
 
Citi Trends
 
 
421
 
Congress Crossing
 
Athens
 
TN
 
Athens, TN
 
2012
 
180,305

 
96.7
%
 
1,408

 
8.07

 
—
 
Dunham's Sports, Kmart
 
 
422
 
East Ridge Crossing
 
Chattanooga
 
TN
 
Chattanooga, TN-GA
 
1999
 
58,950

 
88.8
%
 
567

 
10.84

 
Food Lion
 
—
 
 
423
 
Watson Glen Shopping Center
 
Franklin
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
1988
 
265,027

 
96.8
%
 
2,110

 
8.30

 
ALDI
 
Big Lots, Trees n Trends
 
 
424
 
Williamson Square
 
Franklin
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
1993
 
329,242

 
77.0
%
 
2,138

 
8.44

 
—
 
Grace Church Nashville, Hobby Lobby, USA Baby
 
 
425
 
Greensboro Village
 
Gallatin
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
2005
 
70,203

 
97.7
%
 
960

 
14.00

 
Publix
 
—
 
 
426
 
Greeneville Commons
 
Greeneville
 
TN
 
Greeneville, TN
 
2002
 
228,618

 
96.4
%
 
1,554

 
11.84

 
—
 
Belk, Burke's Outlet, JC Penney, Kmart
 
 
427
 
Oakwood Commons
 
Hermitage
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
2005
 
278,017

 
92.1
%
 
2,447

 
9.90

 
Publix
 
Bed Bath & Beyond, Goody’s, PetSmart, Ross Dress for Less
 
 
428
 
Kimball Crossing
 
Kimball
 
TN
 
Chattanooga, TN-GA
 
2007
 
280,476

 
96.6
%
 
1,790

 
7.29

 
Walmart Supercenter
 
Goody's
 
Lowe's
429
 
Kingston Overlook
 
Knoxville
 
TN
 
Knoxville, TN
 
2014
 
122,536

 
100.0
%
 
1,186

 
9.94

 
—
 
Babies"R"Us, Michaels
 
 
430
 
Farrar Place
 
Manchester
 
TN
 
Tullahoma-Manchester, TN
 
1989
 
43,220

 
84.5
%
 
321

 
8.79

 
Food Lion
 
—
 
 
431
 
The Commons at Wolfcreek
 
Memphis
 
TN
 
Memphis, TN-MS-AR
 
2014
 
658,121

 
93.9
%
 
7,455

 
12.28

 
—
 
Academy Sports + Outdoors, Best Buy, Big Lots, hhgregg, Office Depot, PetSmart, Sports Authority, T.J.Maxx, Value City Furniture
 
Target, The Home Depot, Toys"R"Us
432
 
Georgetown Square
 
Murfreesboro
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
2003
 
104,117

 
88.0
%
 
965

 
10.53

 
Kroger
 
Aaron's
 
 
433
 
Nashboro Village
 
Nashville
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
1998
 
86,811

 
100.0
%
 
1,017

 
11.71

 
Kroger
 
—
 
Walgreens
434
 
Commerce Central
 
Tullahoma
 
TN
 
Tullahoma-Manchester, TN
 
1995
 
182,401

 
99.4
%
 
1,258

 
6.94

 
Walmart Supercenter
 
Dollar Tree
 
 
435
 
Merchant's Central
 
Winchester
 
TN
 
Tullahoma-Manchester, TN
 
1997
 
208,123

 
95.8
%
 
1,206

 
6.05

 
Walmart Supercenter
 
Peebles
 
 
436
 
Palm Plaza
 
Aransas
 
TX
 
Corpus Christi, TX
 
2002
 
50,700

 
78.6
%
 
252

 
7.93

 
—
 
Bealls (Stage Stores), Family Dollar
 
 
437
 
Bardin Place Center
 
Arlington
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2014
 
321,163

 
98.8
%
 
3,025

 
10.32

 
WinCo Foods
 
Hemispheres
 
Hobby Lobby
438
 
Parmer Crossing
 
Austin
 
TX
 
Austin-Round Rock, TX
 
2004
 
168,112

 
96.4
%
 
1,266

 
7.81

 
—
 
Big Lots, Dollar Tree, Harbor Freight
 
Fry's Electronics
439
 
Baytown Shopping Center
 
Baytown
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1987
 
95,941

 
85.6
%
 
865

 
10.54

 
—
 
24 Hour Fitness
 
 
440
 
Cedar Bellaire
 
Bellaire
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1994
 
50,967

 
89.4
%
 
534

 
11.71

 
H-E-B
 
—
 
 
441
 
El Camino
 
Bellaire
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2008
 
71,575

 
98.4
%
 
586

 
8.33

 
El Ahorro Supermarket
 
Family Dollar, Hancock Fabrics
 
 
442
 
Brenham Four Corners
 
Brenham
 
TX
 
Brenham, TX
 
1997
 
114,571

 
100.0
%
 
947

 
—

 
H-E-B
 
—
 
 
443
 
Bryan Square
 
Bryan
 
TX
 
College Station-Bryan, TX
 
2008
 
59,029

 
100.0
%
 
309

 
6.10

 
—
 
99 Cents Only, Citi Trends, Dollar Floor Store, Firestone
 
 
444
 
Townshire
 
Bryan
 
TX
 
College Station-Bryan, TX
 
2002
 
136,887

 
91.2
%
 
951

 
15.52

 
Walmart Neighborhood Market
 
Tops Printing
 
 
445
 
Plantation Plaza
 
Clute
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1997
 
99,141

 
92.9
%
 
751

 
8.33

 
Kroger
 
Walgreens
 
 
446
 
Central Station
 
College Station
 
TX
 
College Station-Bryan, TX
 
2012
 
176,847

 
90.9
%
 
2,366

 
15.09

 
—
 
OfficeMax, Spec's Liquors
 
Kohl's
447
 
Rock Prairie Crossing
 
College Station
 
TX
 
College Station-Bryan, TX
 
2002
 
119,000

 
100.0
%
 
1,260

 
23.80

 
Kroger
 
CVS
 
 
448
 
Carmel Village
 
Corpus Christi
 
TX
 
Corpus Christi, TX
 
1993
 
85,633

 
75.2
%
 
601

 
9.33

 
—
 
Bay Area Dialysis, Bealls (Stage Stores), Tuesday Morning
 
 
449
 
Five Points
 
Corpus Christi
 
TX
 
Corpus Christi, TX
 
2014
 
276,593

 
85.0
%
 
2,780

 
12.05

 
—
 
Burke's, Hobby Lobby, Party City, Ross Dress for Less
 
 
450
 
Claremont Village
 
Dallas
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1976
 
67,305

 
94.6
%
 
481

 
7.69

 
Minyard Food Stores
 
Family Dollar
 
 
451
 
Jeff Davis
 
Dallas
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1975
 
69,562

 
75.4
%
 
472

 
9.00

 
Save-A-Lot (Supervalu)
 
Family Dollar, Mama Rosa
 
 
452
 
Stevens Park Village
 
Dallas
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1974
 
45,492

 
100.0
%
 
421

 
9.25

 
—
 
Big Lots, O'Reilly Auto Parts
 
 
453
 
Webb Royal
 
Dallas
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1992
 
108,545

 
93.3
%
 
778

 
8.99

 
El Rio Grande Latin Market
 
Family Dollar
 
 
454
 
Wynnewood Village
 
Dallas
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2006
 
443,681

 
88.4
%
 
3,977

 
10.34

 
Kroger
 
Fallas Paredes, Gen X Clothing, Ross Dress for Less
 
 
455
 
Parktown
 
Deer Park
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
121,388

 
95.6
%
 
949

 
8.19

 
Food Town
 
Burke's Outlet, Walgreens
 
 
456
 
Kenworthy Crossing
 
El Paso
 
TX
 
El Paso, TX
 
2003
 
74,393

 
96.4
%
 
703

 
9.80

 
Albertsons
 
—
 
 
457
 
Preston Ridge
 
Frisco
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2013
 
780,595

 
96.2
%
 
13,546

 
18.43

 
SuperTarget*
 
Best Buy, Big Lots, DSW, GattiTown, Marshalls, Old Navy, Ross Dress for Less, Sheplers, Stein Mart, T.J.Maxx
 
 


Supplemental Disclosure - Three Months Ended June 30, 2014
Page 46




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR / SF
 
Grocer (1)
 
Other Major Tenants
 
Non-Owned Major Tenants
458
 
Forest Hills
 
Ft. Worth
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1968
 
69,651

 
100.0
%
 
368

 
5.29

 
Foodland Markets
 
Family Dollar, Hi Style Fashion
 
 
459
 
Ridglea Plaza
 
Ft. Worth
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1990
 
170,519

 
97.0
%
 
1,782

 
11.11

 
Tom Thumb (Safeway)
 
Stein Mart
 
 
460
 
Trinity Commons
 
Ft. Worth
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1998
 
197,423

 
100.0
%
 
3,707

 
18.78

 
Tom Thumb (Safeway)
 
DSW
 
 
461
 
Village Plaza
 
Garland
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2002
 
89,241

 
100.0
%
 
1,004

 
11.25

 
Truong Nguyen Grocer
 
—
 
 
462
 
North Hills Village
 
Haltom City
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1998
 
43,299

 
96.1
%
 
301

 
7.23

 
Save-A-Lot
 
Dollar Tree, Rent-A-Center
 
 
463
 
Highland Village Town Center
 
Highland Village
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1996
 
99,341

 
96.8
%
 
1,025

 
10.67

 
Kroger
 
—
 
 
464
 
Bay Forest
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2004
 
71,667

 
100.0
%
 
754

 
10.52

 
Kroger
 
—
 
 
465
 
Beltway South
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1998
 
107,174

 
97.0
%
 
928

 
27.42

 
Kroger
 
—
 
 
466
 
Braes Heights
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2003
 
101,002

 
100.0
%
 
1,867

 
18.49

 
—
 
CVS, Imagination Toys, I W Marks Jewelers
 
 
467
 
Braes Link
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
38,997

 
100.0
%
 
640

 
16.40

 
—
 
Walgreens
 
 
468
 
Braes Oaks
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1992
 
45,067

 
89.1
%
 
386

 
9.62

 
H-E-B
 
—
 
 
469
 
Braesgate
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1997
 
91,382

 
98.3
%
 
569

 
6.33

 
Food Town
 
—
 
 
470
 
Broadway
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2006
 
74,942

 
100.0
%
 
743

 
10.33

 
El Ahorro Supermarket
 
Fallas Paredes, Melrose Fashions
 
 
471
 
Clear Lake Camino South
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2004
 
102,643

 
88.7
%
 
1,327

 
15.66

 
—
 
24 Hour Fitness, Hancock Fabrics, Mr. Gatti's Pizza, Spec's Liquors
 
 
472
 
Hearthstone Corners
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1998
 
208,147

 
97.6
%
 
1,865

 
9.18

 
Kroger
 
Big Lots, Stein Mart
 
 
473
 
Inwood Forest
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1997
 
77,553

 
96.5
%
 
769

 
10.31

 
Foodarama
 
—
 
 
474
 
Jester Village
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1988
 
64,285

 
73.0
%
 
447

 
9.53

 
H-E-B
 
—
 
 
475
 
Jones Plaza
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2000
 
111,206

 
82.0
%
 
1,103

 
12.32

 
—
 
24 Hour Fitness, Hancock Fabrics
 
 
476
 
Jones Square
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
155,503

 
98.6
%
 
1,209

 
8.00

 
—
 
Big Lots, Hobby Lobby
 
 
477
 
Maplewood Mall
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2004
 
94,871

 
97.8
%
 
748

 
8.07

 
Foodarama
 
Burke's Outlet
 
 
478
 
Merchants Park
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2009
 
244,373

 
99.1
%
 
3,060

 
12.64

 
Kroger
 
Big Lots, Petco, Ross Dress for Less
 
 
479
 
Northgate
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1972
 
40,244

 
100.0
%
 
296

 
7.34

 
—
 
Firestone, Lumber Liquidators, TitleMax
 
 
480
 
Northshore
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2001
 
230,779

 
93.3
%
 
2,548

 
12.02

 
Sellers Bros.
 
Conn's, Office Depot
 
 
481
 
Northtown Plaza
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1990
 
190,622

 
98.1
%
 
2,126

 
11.58

 
—
 
99 Cents Only, CVS, Fallas Paredes
 
 
482
 
Northwood
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1972
 
136,747

 
100.0
%
 
1,359

 
10.10

 
Food City
 
—
 
 
483
 
Orange Grove
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2005
 
189,201

 
100.0
%
 
1,849

 
10.43

 
—
 
24 Hour Fitness, FAMSA, Floor & Décor
 
 
484
 
Pinemont Shopping Center
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
73,577

 
92.9
%
 
857

 
13.44

 
—
 
Family Dollar, Houston Community College
 
 
485
 
Royal Oaks Village
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2001
 
145,229

 
95.5
%
 
2,961

 
21.34

 
H-E-B
 
—
 
 
486
 
Sharpstown Plaza
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2005
 
43,631

 
91.4
%
 
323

 
8.10

 
—
 
Family Thrift Center
 
 
487
 
Tanglewilde
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1998
 
84,185

 
100.0
%
 
966

 
12.75

 
—
 
Ace Hardware, Cavender's, Dollar Tree, Party City, Salon In The Park
 
 
488
 
Westheimer Commons
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2012
 
242,409

 
92.9
%
 
2,001

 
8.88

 
Fiesta Mart
 
Marshalls
 
 
489
 
Crossing at Fry Road
 
Katy
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2005
 
237,340

 
99.1
%
 
2,294

 
9.83

 
Kroger
 
Hobby Lobby, Palais Royal, Stein Mart
 
 
490
 
Washington Square
 
Kaufman
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1978
 
64,230

 
85.1
%
 
312

 
5.71

 
—
 
AutoZone, Bealls (Stage Stores), Family Dollar
 
 
491
 
Jefferson Park
 
Mount Pleasant
 
TX
 
Mount Pleasant, TX
 
2001
 
132,096

 
82.8
%
 
681

 
6.83

 
Super 1 Foods
 
Steeles
 
 
492
 
Winwood Town Center
 
Odessa
 
TX
 
Odessa, TX
 
2002
 
365,559

 
100.0
%
 
2,730

 
11.95

 
H-E-B
 
Hastings, Office Depot, Ross Dress for Less, Target
 
 
493
 
Crossroads Center
 
Pasadena
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1997
 
134,006

 
91.0
%
 
1,388

 
12.27

 
Kroger
 
Sears Hardware
 
 
494
 
Spencer Square
 
Pasadena
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1998
 
194,470

 
86.1
%
 
1,997

 
11.93

 
Kroger
 
Burke's Outlet
 
 
495
 
Pearland Plaza
 
Pearland
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1995
 
156,661

 
95.6
%
 
1,111

 
7.42

 
Kroger
 
Palais Royal
 
 
496
 
Market Plaza
 
Plano
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2002
 
168,137

 
74.2
%
 
2,748

 
23.02

 
Central Market (H-E-B)
 
—
 
 
497
 
Preston Park
 
Plano
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1985
 
238,939

 
91.2
%
 
5,583

 
25.63

 
Tom Thumb (Safeway)
 
—
 
 
498
 
Northshore Plaza
 
Portland
 
TX
 
Corpus Christi, TX
 
2000
 
152,144

 
88.9
%
 
825

 
13.60

 
H-E-B
 
Bealls (Stage Stores)
 
Kmart
499
 
Klein Square
 
Spring
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
80,636

 
97.2
%
 
804

 
10.26

 
Food Town
 
Family Dollar, Unleashed (Petco)
 
 
500
 
Keegan's Meadow
 
Stafford
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
125,491

 
94.7
%
 
1,196

 
10.39

 
Randalls (Safeway)
 
Palais Royal
 
 
501
 
Texas City Bay
 
Texas City
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2005
 
223,152

 
100.0
%
 
1,979

 
8.90

 
Kroger
 
BP Engineering Facility
 
 
502
 
Windvale
 
The Woodlands
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2002
 
101,088

 
89.0
%
 
942

 
10.47

 
Randalls (Safeway)
 
—
 
 
503
 
The Centre at Navarro
 
Victoria
 
TX
 
Victoria, TX
 
2005
 
47,960

 
100.0
%
 
727

 
15.16

 
—
 
Hastings, Walgreens
 
 
504
 
Spradlin Farm
 
Christiansburg
 
VA
 
Blacksburg-Christiansburg-Radford, VA
 
2000
 
180,220

 
99.5
%
 
2,482

 
14.08

 
—
 
Barnes & Noble, Big Lots, Michaels, T.J.Maxx
 
Target, The Home Depot
505
 
Culpeper Town Square
 
Culpeper
 
VA
 
Washington-Arlington-Alexandria, DC-VA-MD-WV
1999
 
132,882

 
100.0
%
 
1,135

 
8.54

 
Food Lion
 
Mountain Run Bowling, Tractor Supply Co.
 
 
506
 
Hanover Square
 
Mechanicsville
 
VA
 
Richmond, VA
 
1991
 
129,887

 
94.3
%
 
1,525

 
12.46

 
Martin's Food (Ahold)
 
Gold's Gym
 
Kohl's
507
 
Jefferson Green
 
Newport News
 
VA
 
Virginia Beach-Norfolk-Newport News, VA-NC
 
1988
 
54,945

 
98.6
%
 
816

 
15.07

 
—
 
Destination XL, Once Upon a Child, Tuesday Morning
 
 
508
 
Tuckernuck Square
 
Richmond
 
VA
 
Richmond, VA
 
1994
 
86,010

 
94.6
%
 
1,049

 
12.90

 
—
 
Chuck E. Cheese's
 
 
509
 
Cave Spring Corners
 
Roanoke
 
VA
 
Roanoke, VA
 
2005
 
147,133

 
95.4
%
 
975

 
11.95

 
Kroger
 
Hamrick's
 
 
510
 
Hunting Hills
 
Roanoke
 
VA
 
Roanoke, VA
 
2014
 
166,207

 
94.6
%
 
1,091

 
6.94

 
—
 
Kohl's, PetSmart
 
 


Supplemental Disclosure - Three Months Ended June 30, 2014
Page 47




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR / SF
 
Grocer (1)
 
Other Major Tenants
 
Non-Owned Major Tenants
511
 
Valley Commons
 
Salem
 
VA
 
Roanoke, VA
 
1988
 
45,580

 
84.2
%
 
285

 
7.43

 
Food Lion
 
—
 
 
512
 
Lake Drive Plaza
 
Vinton
 
VA
 
Roanoke, VA
 
2008
 
163,090

 
100.0
%
 
1,176

 
7.21

 
Kroger
 
Big Lots, Goodwill
 
 
513
 
Hilltop Plaza
 
Virginia Beach
 
VA
 
Virginia Beach-Norfolk-Newport News, VA-NC
 
2010
 
150,300

 
100.0
%
 
2,515

 
16.90

 
Trader Joe's
 
Jo-Ann Fabric & Craft Stores, Kirkland’s, Office Depot, PetSmart
 
 
514
 
Ridgeview Centre
 
Wise
 
VA
 
—
 
2005
 
190,242

 
85.9
%
 
1,096

 
14.25

 
—
 
Grand Home Furnishings, Kmart
 
Belk
515
 
Rutland Plaza
 
Rutland
 
VT
 
Rutland, VT
 
1997
 
224,514

 
97.7
%
 
1,879

 
8.57

 
Price Chopper
 
T.J.Maxx, Walmart
 
 
516
 
Fitchburg Ridge Shopping Ctr
 
Fitchburg
 
WI
 
Madison, WI
 
2003
 
50,555

 
87.6
%
 
497

 
11.27

 
—
 
Wisconsin Dialysis
 
 
517
 
Spring Mall
 
Greenfield
 
WI
 
Milwaukee-Waukesha-West Allis, WI
 
2003
 
188,861

 
86.8
%
 
1,240

 
7.56

 
—
 
T.J.Maxx
 
 
518
 
Mequon Pavilions
 
Mequon
 
WI
 
Milwaukee-Waukesha-West Allis, WI
 
2014
 
218,116

 
88.0
%
 
2,874

 
14.96

 
Sendik's Food Market
 
Bed Bath & Beyond
 
 
519
 
Moorland Square Shopping Ctr
 
New Berlin
 
WI
 
Milwaukee-Waukesha-West Allis, WI
 
1990
 
98,303

 
98.5
%
 
934

 
9.64

 
Pick 'n Save (Roundy's)
 
—
 
Walmart
520
 
Paradise Pavilion
 
West Bend
 
WI
 
Milwaukee-Waukesha-West Allis, WI
 
2000
 
209,249

 
92.3
%
 
1,394

 
7.22

 
—
 
Hobby Lobby, Kohl's
 
ShopKo
521
 
Moundsville Plaza
 
Moundsville
 
WV
 
Wheeling, WV-OH
 
2004
 
176,156

 
97.7
%
 
1,250

 
7.26

 
Kroger
 
Big Lots
 
 
522
 
Grand Central Plaza
 
Parkersburg
 
WV
 
Parkersburg-Vienna, WV
 
1986
 
75,344

 
90.7
%
 
717

 
10.48

 
—
 
Office Depot, T.J.Maxx
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL PORTFOLIO
 
 
 
 
 
 
 
 
 
86,764,493

 
92.5
%
 
$
903,423

 
$
12.04

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) * Indicates grocer is not owned.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


Supplemental Disclosure - Three Months Ended June 30, 2014
Page 48




 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
GUIDANCE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended June 30, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





GUIDANCE & ADDITIONAL DISCLOSURES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
GUIDANCE:
 
 
 
 
 
 
 
 
 
 
 
 
 
2014E
 
 
 
 
 
 
 
 
 
FFO per common share - diluted
 $1.80 - $1.84

 
 
 
 
 
 
 
 
 
Same property NOI
 3.7 - 4.1%

 
 
 
 
 
 
 
 
 
Percent leased (at year-end)
 93.0 - 93.5%

 
 
 
 
 
 
 
 
 
Leasing related capital expenditures, including anchor space
    repositioning and redevelopment
 $130 - $140M

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ADDITIONAL DISCLOSURES - as of 6/30/14
 
 
 
 
 
 
 
 
 
 
Estimated market value of expansion land and outparcels available
 $17M

 
 
 
 
 
 
 
 
 
ABR from leases signed but not yet commenced
 $28M

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Leases signed but not yet commenced:
Leases
 
GLA
 
ABR
 
ABR/SF
 
 
 
 
≥ 10,000 SF
49

 
1,176,973

 
$
11,717,390

 
$
9.96

 
 
 
 
< 10,000 SF
263

 
864,998

 
15,645,286

 
18.09

 
 
 
 
TOTAL
312

 
2,041,971

 
$
27,362,676

 
$
13.40

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





Supplemental Disclosure - Three Months Ended June 30, 2014
Page 50