Form: 8-K

Current report

Exhibit 99.2


suppcoverq42016.jpg



 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SUPPLEMENTAL DISCLOSURE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





TABLE OF CONTENTS
 
 
 
 
 
 
 
 
 
 
 
 
Page
 
 
 
Glossary of Terms
1
 
 
 
Results Overview
3
 
 
 
Financial Summary
 
 
 
 
 
Consolidated Balance Sheets
5
 
 
 
 
Consolidated Statements of Operations
6
 
 
 
 
EBITDA
7
 
 
 
 
Funds From Operations (FFO)
8
 
 
 
 
Supplemental Balance Sheet Detail
9
 
 
 
 
NOI & Supplemental Statement of Operations Detail
10
 
 
 
 
Same Property NOI Analysis
11
 
 
 
 
Capital Expenditures
12
 
 
 
 
Capitalization, Liquidity & Debt Ratios
13
 
 
 
 
Debt Overview
14
 
 
 
 
Summary of Outstanding Debt
15
 
 
 
 
Covenant Disclosure
16
 
 
 
Investment Summary
 
 
 
 
 
Acquisitions
18
 
 
 
 
Dispositions
19
 
 
 
 
Anchor Space Repositioning Summary
20
 
 
 
 
Outparcel Development & New Development Summary
22
 
 
 
 
Redevelopment Summary
23
 
 
 
 
Future Redevelopment Opportunities
25
 
 
 
Portfolio Summary
 
 
 
 
 
Portfolio Overview
27
 
 
 
 
Top Forty Retailers Ranked by ABR
28
 
 
 
 
New & Renewal Lease Summary
29
 
 
 
 
New Lease Net Effective Rent
30
 
 
 
 
Lease Expiration Schedule
31
 
 
 
 
Properties by Largest US MSAs
32
 
 
 
 
Largest MSAs by ABR
34
 
 
 
 
Properties by State
37
 
 
 
 
Property List
38
 
 
 
Guidance
 
 
 
 
 
Guidance & Additional Disclosures
50
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Note: Financial information is unaudited.
 
 
 
 
 
 
 
 
 
For additional information, please visit www.brixmor.com, follow Brixmor on Twitter at www.twitter.com/Brixmor or find Brixmor on LinkedIn at www.linkedin.com/company/brixmor.
 
 
 
 
 
 
 
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, 2016 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.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 



Supplemental Disclosure - Three Months Ended December 31, 2016

 
jpgstandardlogoa17.jpg




GLOSSARY OF TERMS
 
 
 
 
 
 
 
Term
 
Definition
 
 
 
 
 
 
 
Anchor Spaces
 
Spaces equal to or greater than 10,000 square feet ("SF") of GLA.
 
 
 
 
 
 
 
Anchor Space Repositioning
 
Anchor leasing that is primarily focused on reconfiguring or significantly remerchandising existing space with minimal work required outside of normal
 
 
 
 
tenant improvement costs.
 
 
 
 
 
 
 
Annualized Base Rent ("ABR")
 
Monthly base rent as of a specified 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, insurance expenses, 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 generally accepted accounting principles in the United States of America (“GAAP”) for purposes
 
 
 
 
of financial statements and (iv) does not include any ancillary income.
 
 
 
 
 
 
 
ABR per SF ("ABR/SF")
 
ABR divided by leased GLA, excluding the GLA of lessee owned leasehold improvements.
 
 
 
 
 
 
 
Billed GLA
 
Aggregate GLA for spaces leased to tenants that have commenced rent payment, as of a specified date.
 
 
 
 
 
 
 
Development Stabilization
 
Development projects are deemed stabilized upon the earlier of (i) percent billed reaching 90% or (ii) one year after the property is placed in service.
 
 
 
 
 
 
 
EBITDA, Adjusted EBITDA & Cash Adjusted EBITDA
 
EBITDA, Adjusted EBITDA & Cash Adjusted EBITDA are supplemental, non-GAAP performance measures. Please see below for more information on the
 
 
 
limitations of non-GAAP performance measures. A reconciliation of net income to EBITDA is provided on page 7.
 
 
 
 
EBITDA is calculated as the sum of net income (loss) in accordance with GAAP before interest expense, federal and state taxes, and depreciation and
 
 
 
 
amortization. Adjusted EBITDA represents EBITDA as adjusted for (i) gain (loss) on disposition of operating properties, (ii) impairment of real estate assets
 
 
 
 
and real estate equity investments, (iii) gain (loss) on extinguishment of debt, (iv) transaction expenses, and (v) other items that the Company believes are
 
 
 
 
not indicative of the Company's operating performance. Cash Adjusted EBITDA represents Adjusted EBITDA adjusted for straight-line rental income,
 
 
 
 
amortization of above- and below-market rent and tenant inducements and straight-line ground rent expense. EBITDA, Adjusted EBITDA & Cash Adjusted
 
 
 
 
EBITDA include unconsolidated joint venture, Montecito Marketplace, at pro rata share.
 
 
 
 
 
 
 
Gross Leasable Area ("GLA")
 
Represents the total amount of leasable property square footage.
 
 
 
 
 
 
 
Leased GLA
 
Aggregate GLA of all leases executed as of a specified date, including those where tenants have not yet commenced rent payment.
 
 
 
 
 
 
 
LIBOR
 
London Interbank Offered Rate.
 
 
 
 
 
 
 
Metropolitan Statistical Area ("MSA")
Defined by the United States Office of Management and Budget 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.
 
 
 
 
 
 
 
NAREIT
 
National Association of Real Estate Investment Trusts.
 
 
 
 
 
 
 
NAREIT Funds From Operations (“FFO")
NAREIT FFO is a supplemental, non-GAAP performance measure. Please see below for more information on the limitations of non-GAAP performance
 
 
 
 
measures. A reconciliation of net income to NAREIT FFO is provided on page 8.
 
 
 
 
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 FFO on the same basis.
 
 
 
 
 
 
 
Net Effective Rent
 
Average ABR over the lease term adjusted for tenant improvements and allowances, tenant specific landlord work and third party leasing commissions.
 
 
 
 
 
 
 
Net Operating Income ("NOI")
 
NOI is a supplemental, non-GAAP performance measure. Please see below for more information on the limitations of non-GAAP performance measures.
 
 
 
 
A reconciliation of NOI to net income is provided on page 10.
 
 
 
 
Calculated as total property revenues (base rent, ancillary and other, expense reimbursements, and percentage rents) less direct property operating
 
 
 
 
expenses (operating costs, real estate taxes and provision for doubtful accounts). NOI excludes corporate level income (including management,
 
 
 
 
transaction, and other fees), lease termination fees, straight-line rental income, amortization of above- and below-market rent and tenant
 
 
 
 
inducements, straight-line ground rent expense and the Company's unconsolidated joint venture, Montecito Marketplace.
 
 
 
 
 
 
 
NOI Yield
 
Calculated as the projected incremental NOI over the incremental third party costs of a specified project.
 
 
 
 
 
 
 
Non-controlling Interests
 
Relate to the portion of Brixmor Operating Partnership LP ("OP”), a consolidated subsidiary, held by the non-controlling interest holders. As of December
 
 
 
 
31, 2016, the Company, through its 100% ownership of BPG Subsidiary, Inc., owns 99.88% of the OP. The remaining 0.12% is held by the Parent
 
 
 
 
Company’s current and former management.
 
 
 
 
 
 
 
Non-owned Major Tenant
 
Also known as a shadow anchor. Represents tenants that are situated on parcels which are owned by unrelated third parties, but, due to their location
 
 
 
 
within or immediately adjacent to a shopping center, appear to the consumer as another retail tenant of the shopping center and, as a result, attract
 
 
 
 
additional customer traffic to the center.
 
 
 
 
 
 
 
Percent Billed
 
Refers to the percentage of GLA leased as of a specified date to tenants that have commenced rent payment.
 
 
 
 
 
 
 
Percent Leased
 
Refers to the percentage of GLA leased as of a specified date, including GLA leased to tenants that have not yet commenced rent payment.
 
 
 
 
 
 
 
PSF
 
Per square foot of GLA.
 
 
 
 
 
 
 
Redevelopment Properties
 
Larger scale projects that typically involve new construction, reconfiguration or demolition of a portion of the shopping center to accommodate
 
 
 
 
new retailers.
 
 
 
 
 
 
 
Rent Spread
 
Represents percentage change in cash ABR PSF in the first year of the new lease relative to cash ABR PSF in the last year of the old lease. Rent spreads
 
 
 
 
are presented only for leases deemed comparable.
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended December 31, 2016
Page 1
jpgstandardlogoa17.jpg




 
New Rent Spread
 
Includes new leases executed on units that were occupied within the prior 12 months. New leases signed on units that have been vacant for
 
 
 
 
longer than 12 months and new leases signed on first generation space are non-comparable and excluded from New Rent Spreads.
 
 
 
 
 
 
 
Renewal Rent Spread
 
Includes renewal leases executed with the same tenant in the same location to extend the term of an expiring lease. Renewals that include the
 
 
 
 
expansion of an existing tenant into space that has been vacant for longer than 12 months are non-comparable and excluded from Renewal
 
 
 
 
Rent Spreads.
 
 
 
 
 
 
 
Option Rent Spread
 
Includes renewal options exercised by tenants in the same location to extend the term of an expiring lease.
 
 
 
 
 
 
 
Total Rent Spread
 
Combined spreads for new, renewal and option leases.
 
 
 
 
 
 
 
Same Property NOI
 
Same property NOI is a supplemental, non-GAAP performance measure. Please see below for more information on the limitations of non-GAAP
 
 
 
 
performance measures. A reconciliation of same property NOI to net income is provided on page 11.
 
 
 
 
Represents NOI of properties owned for the entirety of both periods excluding properties under development or pending stabilization. Same Property
 
 
 
 
NOI includes unconsolidated joint venture, Montecito Marketplace, at pro rata share and excludes income / expense associated with the captive
 
 
 
 
insurance entity.
 
 
 
 
 
 
 
Small Shop Spaces
 
Spaces less than 10,000 SF of GLA.
 
 
 
 
 
 
 
Straight-line Rent
 
Non-cash revenue related to GAAP requirement to average the tenant's contractual rent payments over the life of the lease, regardless of the actual
 
 
 
 
cash collected in the period.
 
 
 
 
 
 
 
Year Built
 
Year of most recent redevelopment or year built if no redevelopment has occurred.
 
 
 
 
 
 
 
 
 
 
 
Non-GAAP Performance Measures
 
 
 
 
 
 
 
The Company's non-GAAP performance 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 financial results to those presented in accordance with GAAP.
 
 
Non-GAAP performance measures should not be considered as alternatives to, or more meaningful than, net income (determined in accordance with GAAP) or other GAAP financial measures,
 
 
as indicators of financial performance and are not alternatives to, or more meaningful than, cash flow from operating activities (determined in accordance with GAAP) as a measure of liquidity.
 
 
Computation of non-GAAP performance measures 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 non-GAAP performance measures are relevant to understanding and addressing financial performance.
 
 
 
 
 
 
 
The Company believes that the non-GAAP measures it presents are useful to investors for the following reasons:
 
 
  • NAREIT FFO
 
NAREIT FFO assists investors in analyzing Brixmor’s comparative operating and financial performance because, by excluding gains and losses related
 
 
 
 
to dispositions of previously depreciated operating properties, real estate-related depreciation and amortization of continuing operations, impairment
 
 
 
 
of operating properties, and after adjustments for joint ventures calculated to reflect FFO on the same basis, investors can compare the operating
 
 
 
 
performance of a company’s real estate between periods.
 
 
 
 
 
 
 
  • EBITDA, Adjusted EBITDA & Cash
       Adjusted EBITDA
 
EBITDA, Adjusted EBITDA & Cash Adjusted EBITDA are utilized in various financial ratios as a measure of Brixmor's operational performance because
 
 
 
EBITDA, Adjusted EBITDA & Cash Adjusted EBITDA exclude various items that the Company believes are not indicative of its operating performance.
 
 
 
 
Accordingly, the use of EBITDA, Adjusted EBITDA & Cash Adjusted EBITDA in various ratios provides a meaningful performance measure as it relates
 
 
 
 
to the Company's ability to meet various coverage tests for the stated period.
 
 
 
 
 
 
 
  • Same Property NOI
 
Same property NOI includes only the NOI of properties owned and stabilized for the full period presented, which eliminates disparities in NOI due to the
 
 
 
 
acquisition, disposition or stabilization of development 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.
 
 
 
 
 
 
 
In addition, the Company presents these supplemental non-GAAP performance measures because the Company believes that these measures are helpful to and frequently used by securities
 
 
analysts, investors and other interested parties in the evaluation of REITs.
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended December 31, 2016
Page 2
jpgstandardlogoa17.jpg


RESULTS OVERVIEW
 
 
 
 
 
 
 
 
 
 
Unaudited, dollars in thousands except per share and per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Twelve Months Ended
 
 
 
Summary Financial Results
 
12/31/16
 
12/31/15
 
12/31/16
 
12/31/15
 
 
 
 
Total revenues (page 6)
 
$
324,034

 
$
325,551

 
$
1,275,772

 
$
1,265,980

 
 
 
 
Net income attributable to common stockholders (page 6)
 
93,053

 
55,262

 
275,478

 
193,570

 
 
 
 
Net income attributable to common stockholders - per diluted share (page 6)
 
0.31

 
0.18

 
0.91

 
0.65

 
 
 
 
Adjusted EBITDA (page 7)
 
220,781

 
217,290

 
875,284

 
861,857

 
 
 
 
Cash adjusted EBITDA (page 7)
 
208,234

 
200,322

 
825,108

 
796,651

 
 
 
 
NAREIT FFO (page 8)
 
163,032

 
155,753

 
631,958

 
600,154

 
 
 
 
NAREIT FFO per share/OP Unit - diluted (page 8)
 
0.53

 
0.51

 
2.07

 
1.97

 
 
 
 
 
Items that impact FFO comparability, net per share (page 8)
 
(0.00
)
 
(0.00
)
 
(0.03
)
 
(0.03
)
 
 
 
 
Dividends declared per share/OP Unit (page 8)
 
0.260

 
0.245

 
0.995

 
0.920

 
 
 
 
Share/OP Unit dividend payout ratio (as % of NAREIT FFO) (page 8)
 
48.6
%
 
47.9
%
 
48.0
%
 
46.6
%
 
 
 
 
NOI (page 10)
 
223,633

 
221,321

 
894,405

 
875,493

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Summary Operating and Financial Ratios
 
12/31/16
 
9/30/16
 
6/30/16
 
3/31/16
 
12/31/15
 
 
NOI margin (page 10)
 
73.2
%
 
73.4
%
 
76.1
%
 
72.9
%
 
72.1
%
 
 
Same property NOI (page 11) (1) (2)
 
1.6
%
 
2.0
%
 
3.5
%
 
2.8
%
 
n/a

 
 
Fixed charge coverage (page 13)
 
3.6x

 
3.4x

 
3.5x

 
3.6x

 
3.3x

 
 
Net principal debt to Adjusted EBITDA (page 13) (3)
 
6.5x

 
6.7x

 
6.7x

 
6.6x

 
6.7x

 
 
Net principal debt to Cash Adjusted EBITDA (page 13) (3)
 
6.9x

 
7.1x

 
7.1x

 
7.0x

 
7.3x

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding Classes of Stock and Partnership Units
 
At 12/31/16
 
At 9/30/16
 
At 6/30/16
 
At 3/31/16
 
At 12/31/15
 
 
Common shares outstanding (page 13)
 
304,343

 
304,321

 
301,099

 
299,248

 
299,138

 
 
Exchangeable OP Units held by non-controlling interests (page 13)
 
378

 
378

 
3,593

 
5,354

 
5,182

 
 
Total
 
304,721

 
304,699

 
304,692

 
304,602

 
304,320

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Summary Portfolio Statistics (4)
 
At 12/31/16
 
At 9/30/16
 
At 6/30/16
 
At 3/31/16
 
At 12/31/15
 
 
Number of properties (page 27)
 
512

 
514

 
516

 
518

 
518

 
 
Percent billed (page 27)
 
90.7
%
 
90.6
%
 
90.6
%
 
90.4
%
 
91.0
%
 
 
Percent leased (page 27)
 
92.8
%
 
92.6
%
 
92.8
%
 
92.4
%
 
92.6
%
 
 
ABR / SF (page 27)
 
$
12.99

 
$
12.90

 
$
12.85

 
$
12.85

 
$
12.76

 
 
Total - new, renewal & option rent spread (page 29)
 
14.5
%
 
10.9
%
 
12.1
%
 
10.9
%
 
14.8
%
 
 
New & renewal rent spread (page 29)
 
19.1
%
 
14.7
%
 
15.6
%
 
16.3
%
 
18.4
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) The Company did not report same property NOI for the quarter ended December 31, 2015. Same property NOI for the twelve months ended December 31, 2016 and 2015 was 2.5% and 3.2%,
respectively. Additional information regarding 2015 Same Property NOI is available in the press release issued by the Company on February 8, 2016 in connection with an Audit Committee
review of historical Same Property NOI. The same property NOI growth rates for the quarters ended March 31, June 30 and September 30, 2016 are based on same property NOI for 2015 as
originally reported by the Company.
 
 
 
 
 
 
 
 
 
 
(2) Includes unconsolidated joint venture, Montecito Marketplace, at pro rata share.
 
 
 
 
 
 
 
 
 
 
(3) Adjusted EBITDA and Cash Adjusted EBITDA are annualized based on quarterly results.
 
 
 
 
 
 
 
 
 
(4) Includes unconsolidated joint venture, Montecito Marketplace, at 100%.
 
 
 
 
 
 
 
 
 
 






Supplemental Disclosure - Three Months Ended December 31, 2016
Page 3
jpgstandardlogoa17.jpg




 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FINANCIAL SUMMARY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure
Three Months Ended December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





CONSOLIDATED BALANCE SHEETS
 
 
 
 
Unaudited, dollars in thousands, except share information
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12/31/16
 
12/31/15
 
 
Assets
 
 
 
 
 
 
Real estate
 
 
 
 
 
 
 
Land
$
2,006,655

 
$
2,011,947

 
 
 
 
Buildings and tenant improvements
8,043,855

 
7,976,529

 
 
 
 
Construction in process
121,817

 
66,797

 
 
 
 
Lease intangibles
836,731

 
877,577

 
 
 
 
 
 
11,009,058

 
10,932,850

 
 
 
 
Accumulated depreciation and amortization
(2,167,054
)
 
(1,880,685
)
 
 
 
Real estate, net
8,842,004

 
9,052,165

 
 
 
Investments in and advances to unconsolidated joint venture
7,921

 
5,019

 
 
 
Cash and cash equivalents
51,402

 
69,528

 
 
 
Restricted cash
51,467

 
41,462

 
 
 
Marketable securities
25,573

 
23,001

 
 
 
Receivables, net of allowance for doubtful accounts of $16,756 and $16,587
178,216

 
180,486

 
 
 
Deferred charges and prepaid expenses, net
122,787

 
109,149

 
 
 
Other assets
40,315

 
17,197

 
 
Total assets
$
9,319,685

 
$
9,498,007

 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
Debt obligations, net
$
5,838,889

 
$
5,974,266

 
 
 
Accounts payable, accrued expenses and other liabilities
553,636

 
603,439

 
 
Total liabilities
6,392,525

 
6,577,705

 
 
 
 
 
 
 
 
 
 
 
Equity
 
 
 
 
 
 
Common stock, $0.01 par value; authorized 3,000,000,000 shares;
 
 
 
 
 
 
 
304,343,141 and 299,138,450 shares outstanding
3,043

 
2,991

 
 
 
Additional paid in capital
3,324,874

 
3,270,246

 
 
 
Accumulated other comprehensive income (loss)
21,519

 
(2,509
)
 
 
 
Distributions in excess of net income
(426,552
)
 
(400,945
)
 
 
Total stockholders' equity
2,922,884

 
2,869,783

 
 
 
Non-controlling interests
4,276

 
50,519

 
 
Total equity
2,927,160

 
2,920,302

 
 
Total liabilities and equity
$
9,319,685

 
$
9,498,007

 



Supplemental Disclosure - Three Months Ended December 31, 2016
Page 5
jpgstandardlogoa17.jpg




CONSOLIDATED STATEMENTS OF OPERATIONS
Unaudited, dollars in thousands, except per share amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Twelve Months Ended
 
 
 
 
 
12/31/16
 
12/31/15
 
12/31/16
 
12/31/15
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
Rental income
$
253,538

 
$
251,119

 
$
998,118

 
$
984,548

 
 
Expense reimbursements
69,604

 
75,462

 
270,548

 
276,032

 
 
Other revenues
892

 
(1,030
)
 
7,106

 
5,400

 
Total revenues
324,034

 
325,551

 
1,275,772

 
1,265,980

 
 
 
 
 
 
 
 
 
 
 
 
 
Operating expenses
 
 
 
 
 
 
 
 
 
Operating costs
35,922

 
35,698

 
133,429

 
129,477

 
 
Real estate taxes
43,601

 
47,276

 
174,487

 
180,911

 
 
Depreciation and amortization
92,668

 
102,511

 
387,302

 
417,935

 
 
Provision for doubtful accounts
2,603

 
2,567

 
9,182

 
9,540

 
 
Impairment of real estate assets
3,183

 
198

 
5,154

 
1,005

 
 
General and administrative
22,539

 
25,424

 
92,248

 
98,454

 
Total operating expenses
200,516

 
213,674

 
801,802

 
837,322

 
 
 
 
 
 
 
 
 
 
 
 
 
Other income (expense)
 
 
 
 
 
 
 
 
 
Dividends and interest
61

 
74

 
542

 
315

 
 
Interest expense
(55,189
)
 
(58,723
)
 
(226,671
)
 
(245,012
)
 
 
Gain on sale of real estate assets
25,381

 
2,520

 
35,613

 
11,744

 
 
Gain (loss) on extinguishment of debt, net
117

 
798

 
(832
)
 
1,720

 
 
Other
(699
)
 
(233
)
 
(4,957
)
 
(348
)
 
Total other expense
(30,329
)
 
(55,564
)
 
(196,305
)
 
(231,581
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Income before equity in income of unconsolidated joint venture
93,189

 
56,313

 
277,665

 
197,077

 
Equity in income of unconsolidated joint venture
129

 
101

 
477

 
459

 
Net income
93,318

 
56,414

 
278,142

 
197,536

 
Net (income) attributable to non-controlling interests
(115
)
 
(1,002
)
 
(2,514
)
 
(3,816
)
 
Net income attributable to Brixmor Property Group, Inc.
93,203

 
55,412

 
275,628

 
193,720

 
Preferred stock dividends
(150
)
 
(150
)
 
(150
)
 
(150
)
 
Net income attributable to common stockholders
$
93,053

 
$
55,262

 
$
275,478

 
$
193,570

 
 
 
 
 
 
 
 
 
 
 
 
 
Per common share:
 
 
 
 
 
 
 
 
 
Net income attributable to common stockholders:
 
 
 
 
 
 
 
 
 
 
Basic
$
0.31

 
$
0.18

 
$
0.91

 
$
0.65

 
 
 
Diluted
$
0.31

 
$
0.18

 
$
0.91

 
$
0.65

 
 
Weighted average shares:
 
 
 
 
 
 
 
 
 
 
Basic
              304,292

 
              298,868

 
                301,601

 
              298,004

 
 
 
Diluted
               305,192

 
              299,697

 
              305,060

 
               305,017




Supplemental Disclosure - Three Months Ended December 31, 2016
Page 6
jpgstandardlogoa17.jpg




EBITDA
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Twelve Months Ended
 
 
 
 
 
12/31/16
 
12/31/15
 
12/31/16
 
12/31/15
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income
$
93,318

 
$
56,414

 
$
278,142

 
$
197,536

 
 
Interest expense - continuing operations
55,189

 
58,723

 
226,671

 
245,012

 
 
Interest expense - unconsolidated joint venture
28

 
43

 
154

 
172

 
 
Federal and state taxes
728

 
524

 
3,332

 
(561
)
 
 
Depreciation and amortization - continuing operations
92,668

 
102,511

 
387,302

 
417,935

 
 
Depreciation and amortization - unconsolidated joint venture
20

 
26

 
88

 
85

 
EBITDA
$
241,951

 
$
218,241

 
$
895,689

 
$
860,179

 
 
 
 
 
 
 
 
 
 
 
 
 
EBITDA
$
241,951

 
$
218,241

 
$
895,689

 
$
860,179

 
 
Gain on disposition of operating properties
(25,381
)
 
(2,520
)
 
(35,613
)
 
(11,744
)
 
 
Impairment of real estate assets
3,183

 
198

 
5,154

 
1,005

 
 
(Gain) loss on extinguishment of debt, net
(117
)
 
(798
)
 
832

 
(1,720
)
 
 
Litigation and other non-routine legal expenses
852

 
—

 
1,810

 
—

 
 
Transaction expenses
209

 
652

 
505

 
2,139

 
 
Shareholder equity offering expenses
84

 
112

 
848

 
718

 
 
Executive severance expenses
—

 
1,405

 
2,260

 
1,405

 
 
Executive equity based compensation (1)
—

 
—

 
88

 
—

 
 
Audit committee review expenses
—

 
—

 
3,711

 
—

 
 
Non-recurring charge related to pre-IPO compensation programs
—

 
—

 
—

 
9,875

 
 
Total adjustments
(21,170
)
 
(951
)
 
(20,405
)
 
1,678

 
Adjusted EBITDA
220,781

 
217,290

 
875,284

 
861,857

 
 
Straight-line rental income, net (2)
(4,625
)
 
(3,762
)
 
(14,463
)
 
(17,576
)
 
 
Amortization of above- and below-market rent and tenant inducements, net (3)
(7,982
)
 
(13,195
)
 
(36,748
)
 
(47,584
)
 
 
Straight-line ground rent expense (income) (4)
60

 
(11
)
 
1,035

 
(46
)
 
 
Total adjustments
(12,547
)
 
(16,968
)
 
(50,176
)
 
(65,206
)
 
Cash adjusted EBITDA
$
208,234

 
$
200,322

 
$
825,108

 
$
796,651

 
 
 
 
 
 
 
 
 
 
 
 
(1) Represents equity based compensation expense associated with executive departures for the twelve months ended December 31, 2016.
 
 
 
 
(2) Includes unconsolidated joint venture Montecito Marketplace straight-line rental income of $14 and $19 at pro rata share for the three and twelve months ended December 31, 2016
respectively; and straight-line rental expense of $11 and $19 at pro rata share for the three and twelve months ended December 31, 2015, respectively.
 
 
 
(3) Includes unconsolidated joint venture Montecito Marketplace amortization of above- and below-market rent and tenant inducements of $7 and $29 at pro rata share for the three and twelve
months ended December 31, 2016, respectively; and $8 and $30 at pro rata share for the three and twelve months ended December 31, 2015, respectively.
 
 
 
(4) Straight-line ground rent expense (income) is included in Operating costs on the Consolidated Statements of Operations.
 
 
 
 
 




Supplemental Disclosure - Three Months Ended December 31, 2016
Page 7
jpgstandardlogoa17.jpg




FUNDS FROM OPERATIONS (FFO)
Unaudited, dollars in thousands, except per share amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Twelve Months Ended
 
 
 
 
 
12/31/16
 
12/31/15
 
12/31/16
 
12/31/15
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income
$
93,318

 
$
56,414

 
$
278,142

 
$
197,536

 
 
Gain on disposition of operating properties
(25,381
)
 
(2,520
)
 
(35,613
)
 
(11,744
)
 
 
Depreciation and amortization- real estate related- continuing operations
91,892

 
101,833

 
384,187

 
413,470

 
 
Depreciation and amortization- real estate related- unconsolidated joint venture
20

 
26

 
88

 
85

 
 
Impairment of operating properties
3,183

 
—

 
5,154

 
807

 
NAREIT FFO
$
163,032

 
$
155,753

 
$
631,958

 
$
600,154

 
 
 
 
 
 
 
 
 
 
 
 
 
NAREIT FFO per share/OP Unit - diluted
$
0.53

 
$
0.51

 
$
2.07

 
$
1.97

 
Weighted average shares/OP Units outstanding - basic and diluted (1)
305,191

 
305,105

 
305,059

 
305,023

 
 
 
 
 
 
 
 
 
 
 
 
 
Items that impact FFO comparability
 
 
 
 
 
 
 
 
 
Gain (loss) on extinguishment of debt, net
$
117

 
$
798

 
$
(832
)
 
$
1,720

 
 
Litigation and other non-routine legal expenses
(852
)
 
—

 
(1,810
)
 
—

 
 
Transaction expenses
(209
)
 
(652
)
 
(505
)
 
(2,139
)
 
 
Shareholder equity offering expenses
(84
)
 
(112
)
 
(848
)
 
(718
)
 
 
Executive severance expenses
—

 
(1,405
)
 
(2,260
)
 
(1,405
)
 
 
Executive equity based compensation (2)
—

 
—

 
(88
)
 
—

 
 
Audit committee review expenses
—

 
—

 
(3,711
)
 
—

 
 
Non-recurring charge related to pre-IPO compensation programs
—

 
—

 
—

 
(9,875
)
 
 
Adjustment of tax reserves for pre-IPO transactions
—

 
781

 
—

 
4,730

 
Total items that impact FFO comparability
$
(1,028
)
 
$
(590
)
 
$
(10,054
)
 
$
(7,687
)
 
Items that impact FFO comparability, net per share
$
0.00

 
$
0.00

 
$
(0.03
)
 
$
(0.03
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Additional Disclosures
 
 
 
 
 
 
 
 
 
Straight-line rental income, net (3)
$
4,625

 
$
3,762

 
$
14,463

 
$
17,576

 
 
Amortization of above- and below-market rent and tenant inducements, net (4)
7,982

 
13,195

 
36,748

 
47,584

 
 
Straight-line ground rent (expense) income (5)
(60
)
 
11

 
(1,035
)
 
46

 
 
 
 
 
 
 
 
 
 
 
 
 
Dividends declared per share/OP Unit
$
0.260

 
$
0.245

 
$
0.995

 
$
0.920

 
Shares/OP Unit dividends declared
$
79,245

 
$
74,570

 
$
303,177

 
$
279,968

 
Share/OP Unit dividend payout ratio (as % of NAREIT FFO)
48.6
%
 
47.9
%
 
48.0
%
 
46.6
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Basic and diluted shares/OP Units outstanding reflects an assumed conversion of vested OP Units to common stock of the Company and the vesting of certain equity awards.
 
(2) Represents equity based compensation expense associated with executive departures for the twelve months ended December 31, 2016.
 
 
 
 
(3) Includes unconsolidated joint venture Montecito Marketplace straight-line rental income of $14 and $19 at pro rata share for the three and twelve months ended December 31, 2016,
 respectively; and straight-line rental expense of $11 and $19 at pro rata share for the three and twelve months ended December 31, 2015, respectively.
 
 
 
 
(4) Includes unconsolidated joint venture Montecito Marketplace amortization of above- and below-market rent and tenant inducements of $7 and $29 at pro rata share for the three and twelve
months ended December 31, 2016, respectively; and $8 and $30 at pro rata share for the three and twelve months ended December 31, 2015, respectively.
 
 
 
(5) Straight-line ground rent (expense) income is included in Operating costs on the Consolidated Statements of Operations.
 
 
 
 
 
 





Supplemental Disclosure - Three Months Ended December 31, 2016
Page 8
jpgstandardlogoa17.jpg




SUPPLEMENTAL BALANCE SHEET DETAIL
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12/31/16
 
12/31/15
 
 
 
 
 
 
 
 
 
Receivables, net
 
 
 
 
 
Straight-line rent receivable
$
101,675

 
$
87,417

 
 
Tenant receivables
88,878

 
100,769

 
 
Allowance for doubtful accounts
(16,756
)
 
(16,587
)
 
 
Other
4,419

 
8,887

 
 
Total receivables, net
$
178,216

 
$
180,486

 
 
 
 
 
 
 
 
 
Deferred charges and prepaid expenses, net
 
 
 
 
 
Deferred charges, net
$
102,777

 
$
88,998

 
 
Prepaid expenses, net
20,010

 
20,151

 
 
Total deferred charges and prepaid expenses, net
$
122,787

 
$
109,149

 
 
 
 
 
 
 
 
 
Other assets
 
 
 
 
 
Interest rate swaps
$
21,605

 
$
—

 
 
Furniture, fixtures and leasehold improvements, net
16,000

 
15,148

 
 
Other
2,710

 
2,049

 
 
Total other assets
$
40,315

 
$
17,197

 
 
 
 
 
 
 
 
 
Accounts payable, accrued expenses and other liabilities
 
 
 
 
 
Accounts payable and accrued expenses
$
204,059

 
$
213,964

 
 
Dividends payable
80,612

 
75,973

 
 
Below market leases, net
223,505

 
268,573

 
 
Other
45,460

 
44,929

 
 
Total accounts payable, accrued expenses and other liabilities
$
553,636

 
$
603,439





Supplemental Disclosure - Three Months Ended December 31, 2016
Page 9
jpgstandardlogoa17.jpg




NOI & SUPPLEMENTAL STATEMENT OF OPERATIONS DETAIL
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Twelve Months Ended
 
 
 
 
 
12/31/16
 
12/31/15
 
12/31/16
 
12/31/15
 
Net Operating Income Detail (1)
 
 
 
 
 
 
 
 
 
Base rent
$
231,538

 
$
227,612

 
$
917,746

 
$
897,529

 
 
Ancillary and other
4,031

 
5,283

 
16,289

 
18,340

 
 
Expense reimbursements
69,604

 
75,462

 
270,548

 
276,032

 
 
Percentage rents
526

 
(1,484
)
 
5,885

 
3,566

 
 
Operating costs
(35,862
)
 
(35,709
)
 
(132,394
)
 
(129,523
)
 
 
Real estate taxes
(43,601
)
 
(47,276
)
 
(174,487
)
 
(180,911
)
 
 
Provision for doubtful accounts
(2,603
)
 
(2,567
)
 
(9,182
)
 
(9,540
)
 
Net operating income
$
223,633

 
$
221,321

 
$
894,405

 
$
875,493

 
 
 
 
 
 
 
 
 
 
 
 
 
Operating Ratios
 
 
 
 
 
 
 
 
 
NOI margin (NOI / revenues)
73.2
%
 
72.1
%
 
73.9
%
 
73.2
%
 
 
Expense recovery ratio (expense reimbursements / (operating costs + real estate taxes))
87.6
%
 
90.9
%
 
88.2
%
 
88.9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Reconciliation of net operating income to net income attributable to common stockholders
 
 
 
 
 
 
 
 
Net operating income
$
223,633

 
$
221,321

 
$
894,405

 
$
875,493

 
 
Lease termination fees
5,383

 
1,264

 
12,920

 
3,530

 
 
Straight-line rental income, net
4,611

 
3,773

 
14,444

 
17,595

 
 
Amortization of above- and below-market rent and tenant inducements, net
7,975

 
13,187

 
36,719

 
47,554

 
 
Fee income
366

 
454

 
1,221

 
1,834

 
 
Straight-line ground rent (expense) income (2)
(60
)
 
11

 
(1,035
)
 
46

 
 
Depreciation and amortization
(92,668
)
 
(102,511
)
 
(387,302
)
 
(417,935
)
 
 
Impairment of real estate assets
(3,183
)
 
(198
)
 
(5,154
)
 
(1,005
)
 
 
General and administrative
(22,539
)
 
(25,424
)
 
(92,248
)
 
(98,454
)
 
 
Total other expense
(30,329
)
 
(55,564
)
 
(196,305
)
 
(231,581
)
 
 
Equity in income of unconsolidated joint venture
129

 
101

 
477

 
459

 
 
Net income attributable to non-controlling interests
(115
)
 
(1,002
)
 
(2,514
)
 
(3,816
)
 
 
Preferred stock dividends
(150
)
 
(150
)
 
(150
)
 
(150
)
 
Net income attributable to common stockholders
$
93,053

 
$
55,262

 
$
275,478

 
$
193,570

 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Statement of Operations Detail
 
 
 
 
 
 
 
 
Rental income
 
 
 
 
 
 
 
 
 
Base rent
$
231,538

 
$
227,612

 
$
917,746

 
$
897,529

 
 
Lease termination fees
5,383

 
1,264

 
12,920

 
3,530

 
 
Straight-line rental income, net
4,611

 
3,773

 
14,444

 
17,595

 
 
Amortization of above- and below-market rent and tenant inducements, net
7,975

 
13,187

 
36,719

 
47,554

 
 
Ancillary and other
4,031

 
5,283

 
16,289

 
18,340

 
 
Total rental income
$
253,538

 
$
251,119

 
$
998,118

 
$
984,548

 
 
 
 
 
 
 
 
 
 
 
 
 
Other revenues
 
 
 
 
 
 
 
 
 
Percentage rents
$
526

 
$
(1,484
)
 
$
5,885

 
$
3,566

 
 
Fee income
366

 
454

 
1,221

 
1,834

 
 
Total other revenues
$
892

 
$
(1,030
)
 
$
7,106

 
$
5,400

 
 
 
 
 
 
 
 
 
 
 
 
 
Other (income) expense
 
 
 
 
 
 
 
 
 
Interest expense
 
 
 
 
 
 
 
 
 
 
Mortgage, note and other interest
$
43,314

 
$
48,566

 
$
180,337

 
$
207,196

 
 
 
Unsecured credit facility and term loan interest
12,752

 
12,802

 
53,932

 
50,328

 
 
 
Capitalized interest
(952
)
 
(618
)
 
(2,870
)
 
(2,749
)
 
 
 
Deferred financing cost amortization
1,881

 
2,065

 
7,708

 
8,302

 
 
 
Debt (premium) discount amortization, net
(1,806
)
 
(4,092
)
 
(12,436
)
 
(18,065
)
 
 
 
Total interest expense
$
55,189

 
$
58,723

 
$
226,671

 
$
245,012

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other
 
 
 
 
 
 
 
 
 
 
Federal and state taxes
$
728

 
$
524

 
$
3,332

 
$
(561
)
 
 
 
Other
(29
)
 
(291
)
 
1,625

 
909

 
 
 
Total other
$
699

 
$
233

 
$
4,957

 
$
348

 
 
 
 
 
 
 
 
 
 
 
 
 
Additional G&A Disclosures
 
 
 
 
 
 
 
 
 
Equity based compensation (3)
3,528

 
3,972

 
11,569

 
23,331

 
 
Capitalized direct leasing compensation costs
3,048

 
3,899

 
14,508

 
15,130

 
 
Capitalized direct construction compensation costs
1,730

 
1,668

 
6,571

 
6,271

 
 
 
 
 
 
 
 
 
 
 
 
(1) NOI excludes unconsolidated joint venture Montecito Marketplace NOI of $179 and $732 at pro rata share for the three and twelve months ended December 31, 2016, respectively, and $185 and $752 at pro rata share for the three and twelve months ended December 31, 2015, respectively.
(2) Straight-line ground rent (expense) income is included in Operating costs on the Consolidated Statements of Operations.
(3) Includes amortization of non-cash equity based compensation, including expense associated with the executive departures of $88 for the twelve months ended December 31, 2016; and a non-recurring charge related to pre-IPO compensation programs of $9,875 for the twelve months ended December 31, 2015.

Supplemental Disclosure - Three Months Ended December 31, 2016
Page 10
jpgstandardlogoa17.jpg




SAME PROPERTY NOI ANALYSIS
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
 
 
Twelve Months Ended
 
 
 
 
 
 
 
 
12/31/16
 
12/31/15
 
Change
 
12/31/16
 
12/31/15
 
Change
 
Same Property NOI Analysis
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of properties
 
511

 
511

 
—
 
509

 
509

 
—
 
Percent billed
 
90.4
%
 
90.9
%
 
(0.5%)
 
90.6
%
 
90.9
%
 
(0.3%)
 
Percent leased
 
92.8
%
 
92.6
%
 
0.2%
 
92.8
%
 
92.6
%
 
0.2%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Base rent
 
$
230,673

 
$
225,673

 
 
 
$
907,375

 
$
885,952

 
 
 
 
Ancillary and other
 
3,951

 
5,252

 
 
 
16,078

 
18,157

 
 
 
 
Expense reimbursements
 
69,381

 
74,814

 
 
 
267,871

 
273,189

 
 
 
 
Percentage rents
 
526

 
(1,473
)
 
 
 
5,861

 
3,608

 
 
 
 
 
 
 
 
304,531

 
304,266

 
0.1%
 
1,197,185

 
1,180,906

 
1.4%
 
Operating expenses
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating costs
 
(37,010
)
 
(36,834
)
 
 
 
(132,597
)
 
(130,895
)
 
 
 
 
Real estate taxes
 
(43,354
)
 
(46,814
)
 
 
 
(172,473
)
 
(178,959
)
 
 
 
 
Provision for doubtful accounts
 
(2,686
)
 
(2,557
)
 
 
 
(9,113
)
 
(9,366
)
 
 
 
 
 
 
 
 
(83,050
)
 
(86,205
)
 
(3.7)%
 
(314,183
)
 
(319,220
)
 
(1.6%)
 
Same property NOI (1)
 
$
221,481

 
$
218,061

 
1.6%
 
$
883,002

 
$
861,686

 
2.5%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Same property NOI excluding redevelopments (2)
 
$
211,961

 
$
208,834

 
1.5%
 
$
845,636

 
$
825,226

 
2.5%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NOI margin
 
72.7
%
 
71.7
%
 
 
 
73.8
%
 
73.0
%
 
 
 
Expense recovery ratio
 
86.3
%
 
89.4
%
 
 
 
87.8
%
 
88.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent contribution to same property NOI growth:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Change
 
Percent Contribution
 
 
 
Change
 
Percent Contribution
 
 
 
 
Base rent
 
$
5,000

 
2.4%
 
 
 
$
21,423

 
2.5%
 
 
 
 
Ancillary and other
 
(1,301
)
 
(0.6%)
 
 
 
(2,079
)
 
(0.2%)
 
 
 
 
Net recoveries
 
(2,149
)
 
(1.0%)
 
 
 
(534
)
 
(0.1%)
 
 
 
 
Percentage rents
 
1,999

 
0.9%
 
 
 
2,253

 
0.3%
 
 
 
 
Provision for doubtful accounts
 
(129
)
 
(0.1%)
 
 
 
253

 
0.0%
 
 
 
 
 
 
 
 
 
 
1.6%
 
 
 
 
 
2.5%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Reconciliation of Net Income Attributable to Common Stockholders to Same Property NOI
 
 
 
 
 
 
 
 
 
Same property NOI (1)
 
$
221,481

 
$
218,061

 
 
 
$
883,002

 
$
861,686

 
 
 
Adjustments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-same property NOI
 
2,331

 
3,445

 
 
 
12,135

 
14,559

 
 
 
 
Lease termination fees
 
5,383

 
1,264

 
 
 
12,920

 
3,530

 
 
 
 
Straight-line rental income, net
 
4,611

 
3,773

 
 
 
14,444

 
17,595

 
 
 
 
Amortization of above- and below-market rent and tenant inducements, net
 
7,975

 
13,187

 
 
 
36,719

 
47,554

 
 
 
 
Fee Income
 
366

 
454

 
 
 
1,221

 
1,834

 
 
 
 
Straight-line ground rent (expense) income
 
(60
)
 
11

 
 
 
(1,035
)
 
46

 
 
 
 
Depreciation and amortization
 
(92,668
)
 
(102,511
)
 
 
 
(387,302
)
 
(417,935
)
 
 
 
 
Impairment of real estate assets
 
(3,183
)
 
(198
)
 
 
 
(5,154
)
 
(1,005
)
 
 
 
 
General and administrative
 
(22,539
)
 
(25,424
)
 
 
 
(92,248
)
 
(98,454
)
 
 
 
 
Total other expense
 
(30,329
)
 
(55,564
)
 
 
 
(196,305
)
 
(231,581
)
 
 
 
 
Pro rata share of same property NOI of unconsolidated joint venture
 
(179
)
 
(185
)
 
 
 
(732
)
 
(752
)
 
 
 
 
Equity in income of unconsolidated joint venture
 
129

 
101

 
 
 
477

 
459

 
 
 
 
Net income attributable to non-controlling interests
 
(115
)
 
(1,002
)
 
 
 
(2,514
)
 
(3,816
)
 
 
 
 
Preferred stock dividends
 
(150
)
 
(150
)
 
 
 
(150
)
 
(150
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income attributable to common stockholders
 
$
93,053

 
$
55,262

 
 
 
$
275,478

 
$
193,570

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Includes unconsolidated joint venture, Montecito Marketplace, at pro rata share.
 
 
 
 
 
 
 
 
 
 
 
 
(2) Excludes ten redevelopment properties for the three and twelve months ended December 31, 2016.
 
 
 
 
 
 
 
 
 
 


Supplemental Disclosure - Three Months Ended December 31, 2016
Page 11
jpgstandardlogoa17.jpg




CAPITAL EXPENDITURES
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Twelve Months Ended
 
 
 
 
 
12/31/16
 
12/31/16
 
 
 
 
 
 
 
 
 
Leasing related:
 
 
 
 
 
Anchor space repositioning and redevelopment
$
21,454

 
$
94,390

 
 
Tenant improvements and tenant inducements
17,522

 
66,399

 
 
External leasing commissions
2,121

 
8,013

 
 
 
 
 
41,097

 
168,802

 
 
 
 
 
 
 
 
 
New development
234

 
906

 
 
 
 
 
 
 
 
 
Maintenance capital expenditures
17,242

 
27,906

 
 
 
 
 
$
58,573

 
$
197,614





Supplemental Disclosure - Three Months Ended December 31, 2016
Page 12
jpgstandardlogoa17.jpg




CAPITALIZATION, LIQUIDITY & DEBT RATIOS
 
 
 
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12/31/16
 
12/31/15
 
Equity Capitalization:
 
 
 
 
 
 
 
 
 
Common shares outstanding
 
 
 
 
304,343

 
299,138

 
 
Exchangeable OP Units held by non-controlling interests
 
 
 
378

 
5,182

 
 
 
 
 
 
 
 
 
304,721

 
304,320

 
Common share price
 
 
 
 
$
24.42

 
$
25.82

 
Total equity capitalization
 
 
 
 
$
7,441,287

 
$
7,857,542

 
 
 
 
 
 
 
 
 
 
 
 
 
Debt:
 
 
 
 
 
 
 
 
 
 
Revolving credit facility
 
 
 
 
$
122,000

 
$
416,000

 
 
Term loans
 
 
 
 
2,100,000

 
2,100,000

 
 
Unsecured notes
 
 
 
 
2,318,453

 
1,218,453

 
 
Secured mortgages
 
 
 
 
1,312,292

 
2,226,763

 
Total principal debt
 
 
 
 
5,852,745

 
5,961,216

 
Add: Net unamortized premium
 
 
 
 
16,092

 
35,832

 
Less: Deferred financing fees
 
 
 
 
(29,948
)
 
(22,782
)
 
Total debt
 
 
 
 
5,838,889

 
5,974,266

 
Less: cash, cash equivalents and restricted cash
 
 
 
 
(102,869
)
 
(110,990
)
 
Net debt
 
 
 
 
$
5,736,020

 
$
5,863,276

 
 
 
 
 
 
 
 
 
 
 
 
 
Total market capitalization:
 
 
 
 
$
13,177,307

 
$
13,720,818

 
 
 
 
 
 
 
 
 
 
 
 
 
Liquidity:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents and restricted cash
 
 
 
 
$
102,869

 
$
110,990

 
 
Available under unsecured credit facility
 
 
 
 
1,128,000

 
834,000

 
 
 
 
 
 
 
 
 
$
1,230,869

 
$
944,990

 
 
 
 
 
 
 
 
 
 
 
 
 
Ratios:
 
 
 
 
 
 
 
 
 
 
Principal debt to total market capitalization
 
 
 
 
44.4
%
 
43.4
%
 
 
Principal debt to total assets, before depreciation
 
 
 

51.1
%

52.4
%
 
 
Secured principal debt to total assets, before depreciation
 
 
 
11.4
%
 
19.6
%
 
 
Net principal debt to Adjusted EBITDA (1)
 
 
 
 
 6.5x

 
 6.7x

 
 
Net principal debt to Cash Adjusted EBITDA (1)
 
 
 
 
 6.9x

 
 7.3x

 
 
Unencumbered assets to unsecured debt
 
 
 
 
 1.9x

 
 1.9x

 
 
Interest coverage (Adjusted EBITDA / interest expense)
 
 
 
 4.0x

 
 3.7x

 
 
Debt service coverage (Adjusted EBITDA / (interest expense + scheduled principal payments))
 3.6x

 
 3.3x

 
 
Fixed charge coverage (Adjusted EBITDA / (interest expense + scheduled principal payments + preferred dividends))
 3.6x

 
 3.3x

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12/31/16
 
12/31/15
 
 
Percentage of total debt:
 
 
 
 
 
 
 
 
 
 
Fixed
 
 
 
 
86.0
%
 
83.0
%
 
 
 
Variable
 
 
 
 
14.0
%
 
17.0
%
 
 
Unencumbered summary:
 
 
 
 
 
 
 
 
 
 
Percent of properties
 
 
 
 
72.8
%
 
62.9
%
 
 
 
Percent of ABR
 
 
 
 
75.9
%
 
61.8
%
 
 
 
Percent of NOI
 
 
 
 
76.1
%
 
61.7
%
 
 
Weighted average maturity (years):
 
 
 
 
 
 
 
 
 
 
Fixed
 
 
 
 
5.2

 
4.1

 
 
 
Variable
 
 
 
 
1.9

 
2.5

 
 
 
Total
 
 
 
 
4.7

 
3.8

 
 
 
 
 
 
 
 
 
 
 
 
 
Credit Ratings & Outlook:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fitch Ratings
BBB-
 Stable
 
 
 
 
 
Moody's Investors Service
Baa3
 Negative
 
 
 
 
 
Standard & Poor's Ratings Services
BBB-
 Stable
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Adjusted EBITDA and Cash Adjusted EBITDA are annualized based on quarterly results.
 
 
 
Excludes unconsolidated joint venture, Montecito Marketplace.
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended December 31, 2016
Page 13
jpgstandardlogoa17.jpg




DEBT OVERVIEW
 
 
 
 
 
 
 
 
 
 
 
 
 
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Maturity Schedule - Debt obligations
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Scheduled Amortization

 
Scheduled Maturities

 
Total

 
Weighted Avg Stated Interest Rate

 
 
 
 
 
 
 
2017
 
 
 
$
21,830

 
$
291,058

 
$
312,888

 
6.38
%
 
 
 
 
 
 
 
2018
 
 
 
19,476

 
1,000,000

 
1,019,476

 
2.11
%
 
 
 
 
 
 
 
2019
 
 
 
20,126

 
600,000

 
620,126

 
2.39
%
 
 
 
 
 
 
 
2020
 
 
 
15,212

 
873,365

 
888,577

 
5.57
%
 
 
 
 
 
 
 
2021
 
 
 
—

 
686,225

 
686,225

 
3.49
%
 
 
 
 
 
 
 
2022
 
 
 
—

 
500,000

 
500,000

 
3.88
%
 
 
 
 
 
 
 
2023
 
 
 
—

 
500,000

 
500,000

 
3.25
%
 
 
 
 
 
 
 
2024
 
 
 
—

 
7,000

 
7,000

 
4.40
%
 
 
 
 
 
 
 
2025
 
 
 
—

 
700,000

 
700,000

 
3.85
%
 
 
 
 
 
 
 
2026
 
 
 
—

 
607,542

 
607,542

 
4.17
%
 
 
 
 
 
 
 
2027+
 
 
 
 
 
10,911

 
10,911

 
7.08
%
 
 
 
 
 
 
 
Total Debt Maturities
 
$
76,644

 
$
5,776,101

 
$
5,852,745

 
3.74
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unamortized premium
 
16,092

 
 
 
 
 
 
 
 
 
 
 
 
 
Deferred financing costs
 
(29,948
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt obligations, net
 
5,838,889

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Detailed Maturity Schedule - Debt obligations
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Rate Secured Mortgages
 
Fixed Rate Unsecured Notes (1)
 
Variable Rate Unsecured Credit Facility /
Fixed Rate Unsecured Credit Facility (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
Scheduled Amortization

 
Scheduled Maturities

 
Weighted Avg Stated Interest Rate

 
Scheduled Maturities

 
Weighted Avg Stated Interest Rate

 
Scheduled Maturities

 
Weighted Avg Stated Interest Rate

 
 
 
2017
 
$
21,830

 
$
291,058

 
6.38
%
 
$
—

 
—

 
$
—

 
—

 
 
 
2018
 
19,476

 
—

 
6.23
%
 
—

 
—

 
1,000,000

 
2.03
%
 
 
 
2019
 
20,126

 
—

 
6.18
%
 
—

 
—

 
600,000

 
2.26
%
 
 
 
2020
 
15,212

 
751,365

 
6.16
%
 
—

 
—

 
122,000

 
1.83
%
 
 
 
2021
 
—

 
186,225

 
6.24
%
 
—

 
—

 
500,000

 
2.46
%
 
 
 
2022
 
—

 
—

 
—

 
500,000

 
3.88
%
 
—

 
—

 
 
 
2023
 
—

 
—

 
—

 
500,000

 
3.25
%
 
—

 
—

 
 
 
2024
 
—

 
7,000

 
4.40
%
 
—

 
—

 
—

 
—

 
 
 
2025
 
—

 
—

 
—

 
700,000

 
3.85
%
 
—

 
—

 
 
 
2026
 
—

 
—

 
—

 
607,542

 
4.17
%
 
 
 
—

 
 
 
2027+
 
—

 
—

 
—

 
10,911

 
7.08
%
 
—

 
—

 
 
 
Total Debt Maturities
 
$
76,644

 
$
1,235,648

 
6.22
%
 
$
2,318,453

 
3.82
%
 
$
2,222,000

 
2.18
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) No scheduled amortization until maturity dates.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended December 31, 2016
Page 14
jpgstandardlogoa17.jpg




SUMMARY OF OUTSTANDING DEBT
 
 
 
 
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding
 
Weighted Average
 
Maturity
 
Percent of
 
 
Loan / Property Name
 
 
Balance
 
Stated Interest Rate
 
Date
 
Total Indebtedness
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FIXED RATE DEBT:
 
 
 
 
 
 
 
 
 
 
 
 
Secured Mortgages
 
 
 
 
 
 
 
 
 
 
 
 
LP - JPM 300 (18 properties)
 
 
$
285,095

 
6.38
%
 
9/1/17
 
4.87
%
 
 
 
Whitaker Square
 
 
8,865

 
6.32
%
 
12/1/17
 
0.15
%
 
 
 
Christmas Tree Plaza
 
 
1,708

 
7.89
%
 
5/11/18
 
0.03
%
 
 
 
 LP - JPM CMBS (71 properties) (1)
 
 
445,152

 
6.27
%
 
8/1/20
 
7.61
%
 
 
 
Monroe ShopRite Plaza
 
 
8,202

 
6.50
%
 
8/1/20
 
0.14
%
 
 
 
Bethel Park Shopping Center
 
 
9,519

 
6.50
%
 
8/1/20
 
0.16
%
 
 
 
Ivyridge
 
 
13,295

 
6.50
%
 
8/1/20
 
0.23
%
 
 
 
Roosevelt Mall
 
 
47,338

 
6.50
%
 
8/1/20
 
0.81
%
 
 
 
Inland (Brixmor/IA, LLC) - Pool A (9 properties)
 
 
98,308

 
5.91
%
 
12/6/20
 
1.68
%
 
 
 
Inland (Brixmor/IA, LLC) - Pool B (8 properties)
 
 
90,039

 
5.91
%
 
12/6/20
 
1.54
%
 
 
 
Inland (Brixmor/IA, LLC) - Pool C (7 properties)
 
 
96,466

 
5.91
%
 
12/31/20
 
1.65
%
 
 
 
REIT 20 LP 51 A (4 properties)
 
 
46,712

 
6.24
%
 
1/6/21
 
0.80
%
 
 
 
REIT 20 LP 45 B (4 properties)
 
 
41,998

 
6.24
%
 
1/6/21
 
0.72
%
 
 
 
REIT 20 LP 42 C (4 properties)
 
 
39,262

 
6.24
%
 
1/6/21
 
0.67
%
 
 
 
REIT 20 LP 37 D (3 properties)
 
 
33,905

 
6.24
%
 
1/6/21
 
0.58
%
 
 
 
REIT 20 LP 43 E (4 properties)
 
 
39,428

 
6.24
%
 
1/6/21
 
0.67
%
 
 
 
Larchmont Centre
 
 
7,000

 
4.40
%
 
3/1/24
 
0.12
%
 
 
 
TOTAL FIXED RATE SECURED MORTGAGES
 
 
1,312,292

 
6.22
%
 
 
 
22.43
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured Credit Facility
 
 
 
 
 
 
 
 
 
 
 
 
Term Loan Facility - $1.5B Tranche A (2)
 
 
$
300,000

 
2.17
%
 
7/31/18
 
5.13
%
 
 
 
Term Loan Facility - $600M (3)
 
 
600,000

 
2.26
%
 
3/18/19
 
10.25
%
 
 
 
Term Loan Facility - $1.5B Tranche B (4)
 
 
500,000

 
2.46
%
 
7/31/21
 
8.54
%
 
 
 
TOTAL FIXED RATE UNSECURED CREDIT FACILITY
 
1,400,000

 
2.31
%
 
 
 
23.92
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured Notes
 
 
 
 
 
 
 
 
 
 
 
 
3.88%, 2022 Brixmor OP Notes
 
 
$
500,000

 
3.88
%
 
8/15/22
 
8.54
%
 
 
 
3.25%, 2023 Brixmor OP Notes
 
 
500,000

 
3.25
%
 
9/15/23
 
8.54
%
 
 
 
3.85%, 2025 Brixmor OP Notes
 
 
700,000

 
3.85
%
 
2/28/25
 
11.96
%
 
 
 
4.13%, 2026 Brixmor OP Notes
 
 
600,000

 
4.13
%
 
6/15/26
 
10.25
%
 
 
 
7.97%, 2026 Brixmor LLC Notes
 
 
694

 
7.97
%
 
8/14/26
 
0.01
%
 
 
 
7.65%, 2026 Brixmor LLC Notes
 
 
6,100

 
7.65
%
 
11/2/26
 
0.10
%
 
 
 
7.68%, 2026 Brixmor LLC Notes I
 
 
748

 
7.68
%
 
11/2/26
 
0.01
%
 
 
 
6.90%, 2028 Brixmor LLC Notes I
 
 
2,222

 
6.90
%
 
2/15/28
 
0.04
%
 
 
 
6.90%, 2028 Brixmor LLC Notes II
 
 
5,486

 
6.90
%
 
2/15/28
 
0.09
%
 
 
 
7.50%, 2029 Brixmor LLC Notes
 
 
3,203

 
7.50
%
 
7/30/29
 
0.05
%
 
 
 
TOTAL FIXED RATE UNSECURED NOTES
 
 
2,318,453

 
3.82
%
 
 
 
39.59
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL FIXED RATE DEBT
 
 
$
5,030,745

 
4.03
%
 
 
 
85.96
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
VARIABLE RATE DEBT:
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured Credit Facility
 
 
 
 
 
 
 
 
 
 
 
 
Term Loan Facility - $1.5B Tranche A (Libor + 135 bps) (2)
 
$
700,000

 
1.98
%
 
7/31/18
 
11.96
%
 
 
 
Revolving Credit Facility (Libor + 120bps)
 
 
122,000

 
1.83
%
 
7/31/20
 
2.08
%
 
 
 
TOTAL VARIABLE RATE UNSECURED CREDIT FACILITY
 
822,000

 
1.95
%
 
 
 
14.04
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL VARIABLE RATE DEBT
 
 
$
822,000

 
1.95
%
 
 
 
14.04
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL DEBT OBLIGATIONS
 
 
$
5,852,745

 
3.74
%
 
 
 
100.00
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unamortized premium
16,092

 
 
 
 
 
 
 
 
 
 
Deferred financing costs
(29,948
)
 
 
 
 
 
 
 
 
 
 
DEBT OBLIGATIONS, NET
$
5,838,889

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Beginning September 2, 2017 and continuing through January 30, 2020, the Company has the right to repay up to $97,000 of the principal debt balance without premium or penalty.
 
(2) Effective November 1, 2016, $300,000 of the $1,000,000 Tranche A Term Loan is swapped from one-month Libor to a fixed rate of 0.8165% (plus a spread of 135bps) through July 31, 2018.
 
(3) Effective November 1, 2016, $200,000 of the $600,000 Term Loan is swapped from one-month Libor to fixed at a combined rate of 0.818 % (plus a spread of 140bps) through July 31, 2018, and the remaining $400,000 is swapped from one-month Libor to a fixed rate of 0.878% (plus a spread of 140bps) through March 18, 2019.
 
(4) Effective November 1, 2016, the $500,000 Tranche B Term Loan is swapped from one-month Libor to a fixed rate of 1.113% (plus a spread of 135bps) through July 30, 2021.
 
 



Supplemental Disclosure - Three Months Ended December 31, 2016
Page 15
jpgstandardlogoa17.jpg




COVENANT DISCLOSURE
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured OP Notes Covenant Disclosure
 
 
 
 
 
 
 
 
 
 
 
 
 
Covenants
 
As of 12/31/16
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 I. Aggregate debt test
 
 < 65%
 
51.6
%
 
 
 
 
 
Total Debt
 
 
 
 
5,838,889

 
 
 
 
 
Total Assets
 
 
 
11,308,270

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
II. Secured debt test
 
< 40%
 
11.8
%
 
 
 
 
 
Total Secured Debt
 
 
 
1,337,094

 
 
 
 
 
Total Assets
 
 
 
11,308,270

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
III. Unencumbered asset ratio
 
 > 150%
 
191.4
%
 
 
 
 
 
Total Unencumbered Assets
 
 
 
8,615,635

 
 
 
 
 
Unsecured Debt
 
 
 
4,501,795

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
IV. Debt service test
 
 > 1.5x
 
4.0x

 
 
 
 
 
Consolidated EBITDA
 
 
 
874,468

 
 
 
 
 
Annual Debt Service Charge
 
 
 
221,012

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For full detailed descriptions of the unsecured OP notes covenant calculations and definitions of capitalized terms please refer to the Prospectus Supplements filed
 
 
 
 
by the OP with the Securities and Exchange Commission on January 15, 2015, August 3, 2015, June 6, 2016, and August 17, 2016 and the notes and indenture incorporated
 
 
 
 
therein by reference.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured Credit Facility Covenant Disclosure
 
 
 
 
 
 
 
 
 
 
 
 
 
Covenants
 
As of 12/31/16
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 I. Leverage ratio
 
 < 60%
 
41.8
%
 
 
 
 
 
Total Outstanding Indebtedness
 
 
 
5,852,744

 
 
 
 
 
Balance Sheet Cash
 
 
 
109,670

 
 
 
 
 
Total Asset Value
 
 
 
13,748,050

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
II. Secured leverage ratio
 
< 40%
 
8.7
%
 
 
 
 
 
Total Secured Indebtedness
 
 
 
1,312,291

 
 
 
 
 
Balance Sheet Cash
 
 
109,670

 
 
 
 
 
Total Asset Value
 
 
 
13,748,050

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
III. Unsecured leverage ratio
 
 < 60%
 
42.7
%
 
 
 
 
 
Total Unsecured Indebtedness
 
 
 
4,540,453

 
 
 
 
 
Unrestricted Cash
 
 
 
58,203

 
 
 
 
 
Unencumbered Asset Value
 
 
10,498,945

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
IV. Fixed charge coverage ratio
 
 > 1.5x
 
 3.7X

 
 
 
 
 
Total Net Operating Income
 
 
 
926,457

 
 
 
 
 
Capital Expenditure Reserve
 
 
 
12,901

 
 
 
 
 
Fixed Charges
 
 
 
247,255

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For full detailed descriptions of the unsecured credit facility covenant calculations and definitions of capitalized terms please refer to the Amended Revolving Credit
 
 
 
 
and Term Loan Agreement, dated as of July 25, 2016 filed as Exhibit 10.5 to Form 10-Q, filed with the Securities and Exchange Commission on July 25, 2016.
 
 


Supplemental Disclosure - Three Months Ended December 31, 2016
Page 16
jpgstandardlogoa17.jpg




 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
INVESTMENT SUMMARY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure
Three Months Ended December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





ACQUISITIONS
Dollars in thousands, except ABR per square foot
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
MSA
 
Purchase Date
 
Purchase Amount
 
GLA / Acres
 
Percent Leased
 
 ABR/
SF
 
Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Land adjacent to Western Village
 
Cincinnati, OH-KY-IN
 
1/15/16
 
$
50

 
 0.13 acres

 
—
 
—
 
—
 
 
 
Outparcel at Dickson City Crossings
 
Scranton--Wilkes-Barre--Hazleton, PA
 
1/15/16
 
1,020

 
 1.8 acres

 
—
 
—
 
—
 
 
 
Land at Keith Bridge Commons
 
Atlanta-Sandy Springs-Roswell, GA
 
1/29/16
 
100

 
 0.32 acres

 
—
 
—
 
—
 
 
 
 
 
 
 
 
 
1,170

 
 2.25 acres

 
 
 
 
 
 
 
 
 
Three Months Ended September 30, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Building at Rose Pavilion (1)
 
San Francisco-Oakland-Hayward, CA
 
9/22/16
 
$
6,733

 
28,530

 
—
 
—
 
—
 
 
 
 
 
 
 
 
 
6,733

 
28,530

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Felicita Town Center
 
San Diego-Carlsbad, CA
 
12/21/16
 
 $ 40,100

 
$
126,502

 
94.7%
 
$
21.75

 
Major Market, Trader Joe's, Rite Aid
 
 
 
 
 
 
 
 
 
              40,100

 
               126,502

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL - TWELVE MONTHS ENDED 12/31/16
 
 
 $ 48,003

 
       155,032

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 / 2.25 acres

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Acquired in connection with redevelopment project (see page 23 for project details).
 
 
 
 
 
 
 
 
 
 
 
 
 
 




Supplemental Disclosure - Three Months Ended December 31, 2016
Page 18
jpgstandardlogoa17.jpg




DISPOSITIONS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except ABR per square foot
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
MSA
 
 
Sale
Date
 
Sale
Amount
 
GLA / Acres
 
Percent Leased
 
ABR/SF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended June 30, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Congress Crossing
 
Athens, TN
4/27/16
 
 $ 11,400
 
180,305

 
97.6
%
 
$
7.00

 
 
Outparcel building at Plymouth Plaza
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
5/4/16
 
                   4,375
 
3,800

 
100.0
%
 
55.25

 
 
Apopka Commons
 
Orlando-Kissimmee-Sanford, FL
5/27/16
 
                   5,475
 
42,507

 
81.3
%
 
13.32

 
 
 
 
 
 
 
 
 
                  21,250
 
226,612

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended September 30, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Jacksonian Plaza
 
Jackson, MS
7/21/16
 
 $ 5,700
 
73,041

 
100.0
%
 
$
7.86

 
 
Inwood Forest
 
Houston-The Woodlands-Sugar Land, TX
9/9/16
 
                    5,100
 
77,553

 
98.1
%
 
8.82

 
 
 
 
 
 
 
 
 
                  10,800
 
150,594

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Plymouth Plaza (office building)
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
11/3/16
 
 $ 4,250
 
30,013

 
43.3%

 
$
26.57

 
 
Shopper's Haven Shopping Center
 
Miami-Fort Lauderdale-West Palm Beach, FL
11/23/16
 
                 50,000
 
206,791

 
98.5%

 
13.76

 
 
Midway Market Square
 
Cleveland-Elyria, OH
12/22/16
 
                 20,500
 
224,329

 
88.8%

 
10.09

 
 
 
 
 
 
 
 
 
                 74,750
 
461,133

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL - TWELVE MONTHS ENDED 12/31/16
 
 $ 106,800
 
838,339

 
 
 
 
 




Supplemental Disclosure - Three Months Ended December 31, 2016
Page 21
jpgstandardlogoa17.jpg




ANCHOR SPACE REPOSITIONING SUMMARY
Dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
 
MSA
 
 
 
 
 
 
 
Description
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
IN PROCESS ANCHOR SPACE REPOSITIONINGS
 
 
 
 
 
 
 
 
 
1

Pointe Orlando
 
 
Orlando-Kissimmee-Sanford, FL
 
 
 
 
Remerchandise ten small shop spaces with a 48K SF Main Event
 
 
2

Barrett Place (1)
 
 
Atlanta-Sandy Springs-Roswell, GA
 
 
Remerchandise former Sports Authority with a 42K SF ALDI
 
 
3

Wilmington Island
 
 
Savannah, GA
 
 
 
 
 
 
 
Reconfigure junior anchor and small shop space to accommodate expansion of existing Kroger to 75K SF prototype and addition of Kroger fuel center
 
 
4

Columbus Center (1)
 
 
Columbus, IN
 
 
 
 
 
 
 
Addition of a 9K SF ULTA adjacent to previously leased 7K SF Shoe Carnival to complete remerchandising of former MC Sports
 
 
5

Haymarket Square & Haymarket Mall (1)
 
Des Moines-West Des Moines, IA
 
 
 
 
Relocate and expand Aspen Athletic CLub to 25K SF and remerchandise former Aspen Athletic Club with a 23K SF Harbor Freight Tools
 
 
6

Jeffersontown Commons
 
Louisville/Jefferson County, KY-IN
 
 
 
Remerchandise former daycare and adjacent anchor vacancy with a 31K SF Savers
 
 
7

Stony Brook I & II
 
 
Louisville/Jefferson County, KY-IN
 
 
 
Reconfigure approximately 15K of small shop space to accommodate expansion of existing Kroger to 116K SF Kroger Marketplace
 
 
8

Crossroads Centre
 
 
St. Louis, MO-IL
 
 
 
 
 
 
Remerchandise former Hobby Lobby with a 23K SF Ruler Foods (Kroger) and a 37K SF Sky Zone
 
 
9

Highridge Plaza
 
 
New York-Newark-Jersey City, NY-NJ-PA
 
 
Remerchandise former A&P with a 42K SF H-Mart grocer
 
 
10

Mamaroneck Centre
 
 
New York-Newark-Jersey City, NY-NJ-PA
 
 
Remerchandise former A&P with a 12K SF CVS and a 13K SF specialty grocer
 
 
11

Southland Shopping Center
 
Cleveland-Elyria, OH
 
 
 
 
Combine former Petco (relocated within center) and adjacent underutilized small shop vacancies to accommodate a 28K SF Aspire Fitness
 
 
12

Cross Keys Commons
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
Remerchandise former Party City with an 11K SF ULTA
 
 
13

Ivyridge
 
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
Remerchandise former A&P with a 47K SF Target
 
 
14

The Commons at Wolfcreek (1)
 
Memphis, TN-MS-AR
 
 
 
 
Remerchandise former Sports Authority with a 44K SF Dave & Busters and a 9K SF small shop space
 
 
15

Clear Lake Camino South (1)
 
Houston-The Woodlands-Sugar Land, TX
 
 
Remerchandise former Hancock Fabrics and adjacent small shop spaces with a 22K SF ALDI
 
 
16

Northtown Plaza
 
 
Houston-The Woodlands-Sugar Land, TX
 
 
Combine former Anna's Linens and RadioShack for a 16K SF dd's Discounts (Ross Dress for Less)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of Projects
 
Expected Total
Project Costs
 
Costs to Date
 
Expected NOI Yield
 
 
 
 
 
 
Total In Process
16

 
$
34,900
 
 
$
16,630

 
12% - 14%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
COMPLETED ANCHOR SPACE REPOSITIONINGS - TWELVE MONTHS ENDED 12/31/16
 
 
1

Glendale Galleria
 
 
Phoenix-Mesa-Scottsdale, AZ
 
 
 
 
Remerchandise former Smashing Buys with a 37K SF LA Fitness
 
 
2

Gateway Plaza
 
 
Los Angeles-Long Beach-Anaheim, CA
 
 
Remerchandise former CVS with a 15K SF Party City
 
 
3

Ocean View Plaza
 
 
Los Angeles-Long Beach-Anaheim, CA
 
 
Remerchandise former Fitness Elite for Women with an 18K SF Crunch Fitness
 
 
4

California Oaks Center
 
Riverside-San Bernardino-Ontario, CA
 
 
Remerchandise former Ralphs with a 19K SF Barons Market
 
 
5

Lompoc Center
 
 
Santa Maria-Santa Barbara, CA
 
 
 
 
Remerchandise and expand former Pier One with a 16K SF Harbor Freight Tools
 
 
6

Superior Marketplace
 
Boulder, CO
 
 
 
 
 
 
 
Reconfigure anchor vacancy with a 19K SF Party City and an 11K SF ULTA
 
 
7

Arapahoe Crossings
 
 
Denver-Aurora-Lakewood, CO
 
 
 
 
Remerchandise former Marshalls and former OfficeMax with a 31K SF Stein Mart and a 24K SF buybuy BABY
 
 
8

Regency Park Shopping Center
 
Jacksonville, FL
 
 
 
 
 
 
Remerchandise anchor vacancy with a 40K SF Ollie's Bargain Outlet
 
 
9

The Shoppes at Southside
 
Jacksonville, FL
 
 
 
 
 
 
Remerchandise former Sports Authority with a 40K SF Restoration Hardware Outlet
 
 
10

Seminole Plaza
 
 
Tampa-St. Petersburg-Clearwater, FL
 
 
Remerchandise and expand former Deals with a 21K SF Bealls Outlet
 
 
11

Rivercrest Shopping Center
 
Chicago-Naperville-Elgin, IL-IN-WI
 
 
 
Addition of a 9K SF Five Below in former Kmart, in conjunction with previous remerchandising with Ross Dress for Less and Party City
 
 
12

Tinley Park Plaza
 
 
Chicago-Naperville-Elgin, IL-IN-WI
 
 
 
Remerchandise former Staples with a 23K SF Planet Fitness
 
 
13

Westlane Shopping Center
 
Indianapolis-Carmel-Anderson, IN
 
 
 
 
Remerchandise former Marsh Supermarket with a 17K SF Save-A-Lot and a 12K SF Citi Trends
 
 
14

Points West Plaza (2)
 
Boston-Cambridge-Newton, MA-NH
 
 
Combine two adjacent small shop vacancies for a 15K SF Citi Trends and remerchandise former Pay/Half with an 11K SF L&M Bargain
 
 
15

Delta Center
 
 
Lansing-East Lansing, MI
 
 
 
 
Remerchandise former Party City with expansion of existing Men's Wearhouse to a 10K SF Destination XL
 
 
16

Marketplace @ 42 (2)
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
 
Remerchandise former Rainbow Foods with a 32K SF Fresh Thyme Farmers Market and a 21K SF Marshalls
 
 
17

County Line Plaza
 
 
Jackson, MS
 
 
 
 
 
 
 
Remerchandise and expand former Office Depot with a 50K SF Burlington Stores and a 25K SF Burke's Outlet
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended December 31, 2016
Page 22
jpgstandardlogoa17.jpg




ANCHOR SPACE REPOSITIONING SUMMARY
Dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
 
MSA
 
 
 
 
 
 
 
Description
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
COMPLETED ANCHOR SPACE REPOSITIONINGS - TWELVE MONTHS ENDED 12/31/16 (continued)
 
 
18

Clocktower Place
 
 
St. Louis, MO-IL
 
 
 
 
 
 
Relocation and rightsize of existing regional furniture store to 30K SF in former Office Depot and replace with a 16K SF K&G Fashion Superstore
 
 
19

Willow Springs Plaza
 
Manchester-Nashua, NH
 
 
 
 
Remerchandise former Namco Pools with a 33K SF New Hampshire Liquor and Wine Outlet
 
 
20

College Plaza (2)
 
 
New York-Newark-Jersey City, NY-NJ-PA
 
 
Remerchandise former Rite Aid with an 18K SF A.C. Moore
 
 
21

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 relocation of existing 6K SF Lebo's Footwear to enable rightsizing of Staples to 13K SF
 
 
22

Crown Point
 
 
Columbus, OH
 
 
 
 
 
 
Remerchandise former Lombard's Furniture and adjacent small shop vacancy with a 21K SF Planet Fitness
 
 
23

Island Plaza (2)
 
 
Charleston-North Charleston, SC
 
 
 
 
Relocate and expand Tuesday Morning to 27K SF and remerchandise former Tuesday Morning with a 6K SF small shop space
 
 
24

The Commons at Wolfcreek
 
Memphis, TN-MS-AR
 
 
 
 
Remerchandise former OfficeMax with a 15K SF DSW and a 9K SF Five Below
 
 
25

Five Points
 
 
Corpus Christi, TX
 
 
 
 
Reconfigure anchor vacancy with a 17K SF Harbor Freight Tools and 7K SF of small shop space
 
 
26

Bardin Place Center
 
 
Dallas-Fort Worth-Arlington, TX
 
 
 
 
Reconfigure former Sports Authority and adjacent small shop space with an 86K SF WinCo Foods
 
 
27

Preston Park
 
 
Dallas-Fort Worth-Arlington, TX
 
 
 
 
Remerchandise former Minyard Sun Fresh Market with a 53K SF Kroger
 
 
28

Webb Royal Plaza
 
 
Dallas-Fort Worth-Arlington, TX
 
 
 
 
Remerchandise former grocer with a 35K SF El Rio Grande Latin Market
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of Projects
 
Total Costs
 
Expected NOI Yield
 
 
 
 
 
 
 
 
Total Completed
28

 
 $ 45,639
 
 
12
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Indicates project added to in process pipeline during the three months ended December 31, 2016.
 
 
 
(2) Indicates project completed during the three months ended December 31, 2016.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The in process projects listed above are actively underway and reflect projects in which leases have been executed with the tenant(s) listed in the project descriptions. There is no guarantee that the Company will complete any or all of these projects or
that the expected total project costs or expected NOI yields will be the amounts shown. The expected total project costs and expected NOI yields are management's best estimates based on current information and may change over time. For more
information, please refer to the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2016.

Supplemental Disclosure - Three Months Ended December 31, 2016
Page 23
jpgstandardlogoa17.jpg




OUTPARCEL DEVELOPMENT & NEW DEVELOPMENT SUMMARY
Dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Expected
 
 
 
 
 
 
 
 
 
 
 
 
 
Stabilization
 
 Total
 
 Costs
 
Expected
 
 
 
Property Name
 
MSA
 
Project Description
 
Quarter
 
 Project Cost
 
 to Date
 
NOI Yield
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
OUTPARCEL DEVELOPMENTS:
 
 
 
 
 
 
 
 
 
 
 
 
IN PROCESS OUTPARCEL DEVELOPMENTS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1
Mira Mesa Mall
 
San Diego-Carlsbad, CA
 
Construction of a 3K SF Habit Burger Grill outparcel
 
Mar-17
 
$
1,000

 
$
390

 
21
%
 
 
2
Coastal Way - Coastal Landing
 
Tampa-St. Petersburg-Clearwater, FL
 
Construction of a 3K SF Visionworks, a 2K SF Chipotle and a 1K SF Jimmy John's outparcels
 
Mar-17
 
2,300

 
1,714

 
11
%
 
 
3
Miracle Mile Shopping Plaza
 
Toledo, OH
 
Construction of a 7K SF DaVita Dialysis outparcel
 
Mar-17
 
1,300

 
165

 
15
%
 
 
4
Pilgrim Gardens
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
Construction of a 2K SF Moe's Southwest Grill outparcel
 
Mar-17
 
400

 
76


25
%
 
 
5
Galleria Commons
 
Las Vegas-Henderson-Paradise, NV
 
Construction of a 3K SF Corner Bakery Café outparcel
 
Jun-17
 
700

 
200

 
19
%
 
 
6
The Centre at Navarro
 
Victoria, TX
 
Construction of an 18K SF Aldi outparcel
 
Jun-17
 
400

 
297

 
39
%
 
 
7
Century Plaza Shopping Center
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
Demolition of existing retail space, construction of a 13K SF CVS outparcel with drive-thru and site improvements
 
Jun-18
 
3,700

 
645

 
12
%
 
 
 
TOTAL IN PROCESS OUTPARCEL DEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE
 
 
 
$
9,800

 
$
3,487

 
15
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
COMPLETED OUTPARCEL DEVELOPMENTS - TWELVE MONTHS ENDED 12/31/16
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1
Arbor - Broadway Faire
 
Fresno, CA
 
Reconfigure former outparcel building for a 6K SF Buffalo Wild Wings
 
Mar-16
 
 
 
$
275

 
62
%
 
 
2
Westgate
 
Dublin, GA
 
Construction of a 2K SF Dunkin' Donuts / Baskin-Robbins outparcel
 
Mar-16
 
 
 
326

 
16
%
 
 
3
Wadsworth Crossings
 
Cleveland-Elyria, OH
 
Construction of a 4K SF Mattress Firm outparcel
 
Mar-16
 
 
 
1,537

 
12
%
 
 
4
Wynnewood Village
 
Dallas-Fort Worth-Arlington, TX
 
Construction of a 3K SF Popeyes Louisiana Kitchen outparcel
 
Mar-16
 
 
 
553

 
16
%
 
 
5
Puente Hills Town Center
 
Los Angeles-Long Beach-Anaheim, CA
 
Reconfigure former freestanding Barnes & Noble with a 3K SF Habit Burger Grill, a 3K SF Pacific Fish Grill and two additional small shop retailers
 
Sep-16
 
 
 
2,429

 
12
%
 
 
6
Briggsmore Plaza
 
Modesto, CA
 
Construction of a 3K SF Taco Bell outparcel
 
Sep-16
 
 
 
622

 
15
%
 
 
7
Haymarket Mall
 
Des Moines-West Des Moines, IA
 
Construction of a 3K SF Chick-fil-A outparcel
 
Sep-16
 
 
 
70

 
140
%
 
 
8
Warren Plaza
 
Dubuque, IA
 
Construction of a 5K SF Chick-fil-A outparcel
 
Sep-16
 
 
 
60

 
42
%
 
 
9
Tinley Park Plaza (1)
 
Chicago-Naperville-Elgin, IL-IN-WI
 
Reconfigure 8K SF outparcel space with a 3K SF Blaze Pizza, a 3K SF Noodles & Company and 2K SF of additional retail space
 
Dec-16
 
 
 
2,765

 
13
%
 
 
10
College Plaza (1)
 
New York-Newark-Jersey City, NY-NJ-PA
 
Construction of a 4K SF Panera Bread outparcel with drive-thru
 
Dec-16
 
 
 
973

 
19
%
 
 
11
Florence Plaza - Florence Square (1)
Cincinnati, OH-KY-IN
 
Construction of a 4K SF First Watch outparcel
 
Dec-16
 
 
 
1,752

 
14
%
 
 
12
The Commons at Wolfcreek (1)
 
Memphis, TN-MS-AR
 
Construction of an 11K SF outparcel with a 5K SF AT&T and three additional small shop retailers
 
Dec-16
 
 
 
2,647

 
13
%
 
 
 
TOTAL COMPLETED OUTPARCEL DEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE
 
 
 
 
 
$
14,009

 
15
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NEW DEVELOPMENTS:
 
 
 
 
 
 
 
 
 
 
 
 
 
IN PROCESS NEW DEVELOPMENTS
 
 
 
 
 
 
 
 
 
 
 
 
 
1
The Shops at Riverhead
 
New York-Newark-Jersey City, NY-NJ-PA
 
Construction of a 42K SF Marshalls / HomeGoods combo store, an 18K SF PetSmart, an 18K SF Sierra Trading Post, a 10K SF ULTA, additional 20K SF anchor space, and a 12K SF multi-tenant retail building adjacent to an existing non-owned Costco
 
Mar-18
 
 $ 32,600

 
 $ 7,108

 
10
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Indicates project completed during the three months ended December 31, 2016.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The in process projects listed above are actively underway and reflect projects in which leases have been executed with the tenant(s) listed in the project descriptions. There is no guarantee that the Company will complete any or all of these opportunities,
that the expected total project cost or expected NOI yield will be the amounts shown or that stabilization will occur as anticipated. The expected total project costs, expected NOI yields and anticipated stabilization dates are management's best
estimates based on current information and may change over time. For more information, please refer to the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2016.

Supplemental Disclosure - Three Months Ended December 31, 2016
Page 24
jpgstandardlogoa17.jpg




REDEVELOPMENT SUMMARY
 
Dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Expected
 
 
 
 
 
 
 
 
 
 
 
 
 
 Property
 
Stabilization
 
 Total
 
 Costs
 
Expected
 
 
 
Property Name
 
MSA
 
Project Description
 
 Acreage
 
Quarter
 
 Project Cost
 
 to Date
 
NOI Yield
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
REDEVELOPMENTS:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
IN PROCESS REDEVELOPMENTS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1

Rose Pavilion
 
San Francisco-Oakland-Hayward, CA
 
Redevelopment of recently acquired former CVS with a 29K SF Total Wine & More; redevelopment of existing retail space with a 13K SF Trader Joe’s and additional small shop space; and shopping center upgrades including façade upgrade, LED lighting, solar array installation, and common area enhancements
 
27
 
Dec-17
 
$
14,400

 
$
7,262

 
10
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2

Gateway Plaza - Vallejo
 
Vallejo-Fairfield, CA
 
Redevelopment of former CVS and adjacent 2.4 acres with a 16K SF DSW and a 10K SF ULTA replacing the former CVS, solar array installation, and construction of a 4K SF Panera Bread outparcel with drive-thru
 
53
 
Dec-17
 
8,800

 
5,160

 
9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
3

Preston Ridge
 
Dallas-Fort Worth-Arlington, TX
 
Remerchandise and expand former Gatti-Town Pizza box with a 33K SF Nordstrom Rack, a 29K SF Saks OFF Fifth, and a 6K SF J Crew Mercantile; reconfigure existing shop space for restaurant use; and add a new grass pavilion
 
131
 
Dec-17
 
9,500

 
5,026

 
9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
4

Park Shore Plaza
 
Naples-Immokalee-Marco Island, FL
 
Redevelopment and densification of center including replacing former Kmart and YouFit Health Club with a 60K SF Burlington, a 27K SF Saks OFF Fifth, a 19K SF Party City, and an additional 16K SF junior anchor; construction of additional small shop space including restaurant outparcels with potential for outdoor patio areas; and shopping center upgrades including façade renovations, new landscaping, and courtyard enhancements
 
22
 
Mar-18
 
20,800

 
16,959

 
11
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5

Green Acres
 
Saginaw, MI
 
Redevelopment of existing Kroger and underutilized adjacent spaces for a 106K SF Kroger Marketplace and 14K SF of retail space; reconfigure remaining small shop space; and shopping center upgrades including partial façade upgrade, LED lighting, and outdoor seating
 
28
 
Mar-18
 
5,000

 
377

 
10
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
6

Erie Canal Centre
 
Syracuse, NY
 
Redevelopment of former Kmart and other vacant anchor space with a 50K SF Dick’s Sporting Goods and 65K SF of additional junior anchor space; potential construction of 8K SF of small shop space and outparcel pad; and shopping center upgrades including façade renovations, parking field and common area enhancements
 
11
 
Mar-18
 
15,800

 
7,952

 
8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
7

Sagamore Park Centre (1)
 
Lafayette-West Lafayette, IN
 
Redevelopment and expansion of existing Pay Less (Kroger) with a 91K SF prototype by demolishing 11K SF of underutilized small shops; remerchandise additional small shop spaces with relevant retailers including a 3K SF Pet Valu, a 2K SF Nothing Bundt Cakes, and a 2K SF T-Mobile; and shopping center upgrades including façade renovations, LED lighting, new landscaping, and common area enhancements
 
14
 
Jun-18
 
2,300

 
152

 
11
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
8

Maple Village
 
Ann Arbor, MI
 
Redevelopment of center including replacing former Kmart with a 34K SF Stein Mart, a 22K SF Sierra Trading Post, a 20K SF HomeGoods, and a 21K SF junior anchor; construction of outparcel retail building and 4K SF endcap; and shopping center upgrades including façade renovations and common area enhancements
 
31
 
Jun-18
 
31,000

 
12,324

 
8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
9

Collegeville Shopping Center (1)
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
Addition of a 15K SF Kimberton Whole Foods organic grocer; construction of a new 4K SF outparcel; remerchandise 22K SF of underutilized space with retailers relevant to the surrounding community; and shopping center upgrades including façade renovations, LED lighting, new pylon signage, and new landscaping
 
14
 
Jun-18
 
5,500

 
68

 
12
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL IN PROCESS REDEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE
 
331
 
 
 
$
113,100

 
$
55,280

 
9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
COMPLETED REDEVELOPMENTS - TWELVE MONTHS ENDED 12/31/16
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1

Bay Pointe Plaza (2)
 
Tampa-St. Petersburg-Clearwater, FL
 
Redevelopment of existing Publix with a 54K SF prototype with drive-thru pharmacy; remerchandise vacant endcap with a 9K SF Pet Supermarket; and shopping center upgrades including façade renovations, LED lighting, and additional seating areas
 
10
 
Dec-16
 
 
 
$
7,703

 
10
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL COMPLETED REDEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE
 
10
 
 
 
 
 
$
7,703

 
10
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Indicates project added to in process pipeline during the three months ended December 31, 2016.
 
 
 
 
 
 
 
 
 
(2) Indicates project completed during the three months ended December 31, 2016.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The in process projects listed above are actively underway and reflect projects in which leases have been executed with the tenant(s) listed in the project descriptions. There is no guarantee that the Company will complete any or all of these opportunities,
that the expected total project cost or expected NOI yield will be the amounts shown or that stabilization will occur as anticipated. The expected total project costs, expected NOI yields and anticipated stabilization dates are management's best
estimates based on current information and may change over time. For more information, please refer to the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2016.


Supplemental Disclosure - Three Months Ended December 31, 2016
Page 25
jpgstandardlogoa17.jpg




FUTURE REDEVELOPMENT OPPORTUNITIES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
MSA
 
Project Description
 
 
 
 
 
 
 
 
 
 
MAJOR REDEVELOPMENTS
 
 
 
 
 
1

Springdale (1)
 
Mobile, AL
 
Redevelopment of existing anchor space for multiple retailers, potential outparcel development
 
 
2

University Mall
 
Sacramento--Roseville--Arden-Arcade, CA
 
Extensive repositioning and reconfiguration with experiential retailers, densification of site, potential residential component
 
 
3

Mira Mesa Mall
 
San Diego-Carlsbad, CA
 
Redevelopment of existing anchor space for multiple retailers and/or entertainment users, potential outparcel development
 
 
4

Mall at 163rd Street
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
Extensive redevelopment and repositioning of shopping center, densification of site, reconfiguration of existing retail space
 
 
5

Miami Gardens
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
Redevelopment of existing anchor space for multiple retailers and/or entertainment users, potential outparcel development
 
 
6

Dolphin Village
 
Tampa-St. Petersburg-Clearwater, FL
 
Remerchandise with experiential retailers, addition of a new anchor prototype, reconfiguration of space for new junior anchors and outparcel development
 
 
7

Roosevelt Mall
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
Extensive repositioning and reconfiguration, including vertical component, multiple densification opportunities, including potential residential component
 
 
8

Village at Newtown
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
Redevelopment and repositioning of shopping center, densification of site
 
 
9

Market Plaza
 
Dallas-Fort Worth-Arlington, TX
 
Extensive redevelopment and repositioning of shopping center, remerchandise with multiple retailers
 
 
10

Wynnewood Village
 
Dallas-Fort Worth-Arlington, TX
 
Redevelopment and reconfiguration of existing anchor and inline space, densification of site
 
 
11

Spring Mall
 
Milwaukee-Waukesha-West Allis, WI
 
Extensive redevelopment to reorient the center, with potential outparcel development
 
 
 
 
 
 
 
 
 
 
MINOR REDEVELOPMENTS
 
 
 
 
 
1

Arapahoe Crossings
 
Denver-Aurora-Lakewood, CO
 
Repurpose, assemble and reposition to create footprint for national tenant merchandise mix
 
 
2

Northgate Shopping Center
 
Deltona-Daytona Beach-Ormond Beach, FL
 
Redevelopment of existing anchor space for multiple retailers, potential outparcel development
 
 
3

Venetian Isle Shopping Ctr
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
Redevelopment of existing anchor space for new anchor prototype, potential outparcel development
 
 
4

Freedom Square
 
Naples-Immokalee-Marco Island, FL
 
Redevelopment of existing anchor space for multiple retailers and/or entertainment users, potential outparcel development
 
 
5

Marco Town Center
 
Naples-Immokalee-Marco Island, FL
 
Remerchandise with experiential retailers, reconfiguration of common areas for community space
 
 
6

Beneva Village Shoppes
 
North Port-Sarasota-Bradenton, FL
 
Addition of new anchor prototype, address obsolete space and outparcel development, enhancement of common areas
 
 
7

Hunter's Creek Plaza
 
Orlando-Kissimmee-Sanford, FL
 
Reconfiguration of existing footprint to accommodate multiple new retailers, potential outparcel development
 
 
8

Pointe Orlando
 
Orlando-Kissimmee-Sanford, FL
 
Redevelopment, densification and rebranding for multiple new retailers and/or entertainment users
 
 
9

Ventura Downs (1)
 
Orlando-Kissimmee-Sanford, FL
 
Remerchandise existing anchor space with tenants relevant to the surrounding community, enhancement of common areas
 
 
10

High Point Centre (1)
 
Chicago-Naperville-Elgin, IL-IN-WI
 
Reconfigure and repurpose obsolete space for national tenant merchandise mix, enhancement of common areas
 
 
11

Tinley Park Plaza
 
Chicago-Naperville-Elgin, IL-IN-WI
 
Reconfiguration of existing footprint to accommodate multiple retailers, potential entertainment uses and outparcel development
 
 
12

Speedway Super Center
 
Indianapolis-Carmel-Anderson, IN
 
Reconfiguration of existing footprint to accommodate multiple new anchors, rebranding of center, potential outparcel development
 
 
13

Webster Square Shopping Center
 
Boston-Cambridge-Newton, MA-NH
 
Redevelopment of existing pad building to accommodate multiple new retailers
 
 
14

Roseville Center
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
Reconfigure and repurpose obsolete space with new merchandise mix
 
 
15

Ellisville Square
 
St. Louis, MO-IL
 
Redevelopment of existing anchor space for multiple retailers, potential outparcel development
 
 
16

Bedford Grove (1)
 
Manchester-Nashua, NH
 
Redevelopment of existing anchor space for multiple retailers, potential outparcel development, enhancement of common areas
 
 
17

Hamilton Plaza
 
Trenton, NJ
 
Redevelopment of existing anchor space for multiple retailers, potential outparcel development
 
 
18

Dalewood I, II & III Shopping Center (1)
 
New York-Newark-Jersey City, NY-NJ-PA
 
Remerchandise with national tenant merchandise mix, potential outparcel development, enhancement of common areas
 
 
19

Falcaro's Plaza
 
New York-Newark-Jersey City, NY-NJ-PA
 
Reorient and repurpose anchor space and additional building to leverage power corner location, densification of site
 
 
20

Mamaroneck Centre
 
New York-Newark-Jersey City, NY-NJ-PA
 
Redevelopment of existing pad building to accommodate multiple new retailers
 
 
21

Springfield Place
 
New York-Newark-Jersey City, NY-NJ-PA
 
Redevelopment of existing pad building to accommodate multiple new retailers
 
 
22

Franklin Square
 
Charlotte-Concord-Gastonia, NC-SC
 
Redevelopment of existing anchor space for new anchor and in-line tenancy
 
 
23

Park Hills Plaza (1)
 
Altoona, PA
 
Reconfigure and remerchandise obsolete space and potential outparcel development
 
 
24

Marlton Crossing
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
Redevelopment of oversized anchor, remerchandise with experiential retailers, densification of site
 
 
25

The Commons at Wolfcreek
 
Memphis, TN-MS-AR
 
Redevelopment of existing anchor space for multiple anchor retailers, potential outparcel development
 
 
26

Preston Park (1)
 
Dallas-Fort Worth-Arlington, TX
 
Repurpose, assemble and reposition for national tenant merchandise mix, densification of site, enhancement of common areas
 
 
27

Texas City Bay
 
Houston-The Woodlands-Sugar Land, TX
 
Redevelopment of vacant anchor space with combination of anchor and small shop space, densification of site
 
 
28

Hanover Square
 
Richmond, VA
 
Redevelopment of existing anchor space for multiple retailers, potential outparcel development
 
 
 
 
 
 
 
 
 
(1) Indicates project added to pipeline during the three months ended December 31, 2016.
 
 
 
 
 
 
 
 
 
 
The Company has identified potential future reinvestment opportunities at the properties listed above. Many of these opportunities are, or will soon be, in preliminary planning phases and as such, may not ultimately become active reinvestments. Proceeding
 
with these reinvestments could be subject to factors outside of the Company’s control which could delay, suspend or defer the expected opportunity or timing of execution. While the Company expects that these projects are likely to become active
 
in the near-term, it should be noted that this list will fluctuate as projects become active, suspended or otherwise rescheduled. For more information, please refer to the “Risk Factors” section of the Company’s Annual Report on Form 10-K
 
for the year ended December 31, 2016.
 

Supplemental Disclosure - Three Months Ended December 31, 2016
Page 26
jpgstandardlogoa17.jpg




 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PORTFOLIO SUMMARY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure
Three Months Ended December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Includes unconsolidated joint venture, Montecito Marketplace, at 100%
 





PORTFOLIO OVERVIEW
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except ABR per square foot
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of:
 
 
 
 
 
 
 
 
 
12/31/16
 
9/30/16
 
6/30/16
 
3/31/16
 
12/31/15
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of properties
 
 
512

 
514

 
516

 
518

 
518

 
 
 
 
 
GLA
 
 
86,006,794

 
86,295,214

 
86,446,148

 
86,669,873

 
86,615,572

 
 
 
 
 
Percent billed
 
 
90.7
%
 
90.6
%
 
90.6
%
 
90.4
%
 
91.0
%
 
 
 
 
 
Percent leased
 
 
92.8
%
 
92.6
%
 
92.8
%
 
92.4
%
 
92.6
%
 
 
 
 
 
 
TOTAL ≥ 10,000 SF
 
 
96.1
%
 
95.8
%
 
96.4
%
 
95.9
%
 
96.2
%
 
 
 
 
 
 
TOTAL < 10,000 SF
 
 
85.1
%
 
85.0
%
 
84.2
%
 
83.9
%
 
84.3
%
 
 
 
 
 
ABR
 
 
 
$
959,983

 
$
953,696

 
$
952,653

 
$
951,163

 
$
945,667

 
 
 
 
 
ABR/SF
 
 
$
12.99

 
$
12.90

 
$
12.85

 
$
12.85

 
$
12.76

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PORTFOLIO BY UNIT SIZE AS OF 12/31/16
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of
Units
 
GLA
 
Percent Billed
 
Percent Leased
 
Percent of Vacant GLA
 
 ABR
 
ABR/SF
 
 
 
 
≥ 35,000 SF
574

 
35,628,875

 
96.6
%
 
97.9
%
 
12.3
%
 
$
278,230

 
$
9.27

 
 
 
 
20,000 – 34,999 SF
556

 
14,644,193

 
92.4
%
 
95.3
%
 
11.3
%
 
136,158

 
9.91

 
 
 
 
10,000 - 19,999 SF
                  747

 
10,184,394

 
88.7
%
 
91.1
%
 
14.8
%
 
116,555

 
12.90

 
 
 
 
5,000 - 9,999 SF
1,375

 
9,467,031

 
83.3
%
 
86.5
%
 
20.8
%
 
129,198

 
16.40

 
 
 
 
< 5,000 SF
7,746

 
16,082,301

 
81.5
%
 
84.3
%
 
40.8
%
 
299,842

 
22.66

 
 
 
 
TOTAL
10,998

 
86,006,794

 
90.7
%
 
92.8
%
 
100.0
%
 
$
959,983

 
$
12.99

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL ≥ 10,000 SF
1,877

 
60,457,462

 
94.2
%
 
96.1
%
 
38.4
%
 
$
530,943

 
$
10.06

 
 
 
 
TOTAL < 10,000 SF
9,121

 
25,549,332

 
82.2
%
 
85.1
%
 
61.6
%
 
429,040

 
20.32

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




Supplemental Disclosure - Three Months Ended December 31, 2016
Page 28
jpgstandardlogoa17.jpg




TOP FORTY RETAILERS RANKED BY ABR
Dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Retailer
 
 
 
Owned Leases
 
Leased GLA
 
Percent of Total
Portfolio GLA
 
Leased ABR
 
Percent of Portfolio Leased ABR
 
 
 
1
The Kroger Co. (1)
 
 
 
71

 
4,646,159

 
5.4
%
 
$
31,995

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

 
2,917,997

 
3.4
%
 
30,457

 
3.2
%
 
 
 
3
Dollar Tree Stores, Inc. (3)
 
 
 
168

 
1,880,205

 
2.2
%
 
18,848

 
2.0
%
 
 
 
4
Publix Super Markets, Inc.
 
 
 
39

 
1,802,591

 
2.1
%
 
17,048

 
1.8
%
 
 
 
5
Wal-Mart Stores, Inc. (4)
 
 
 
28

 
3,491,147

 
4.1
%
 
16,486

 
1.7
%
 
 
 
6
Ahold Delhaize (5)
 
 
 
29

 
1,536,305

 
1.8
%
 
16,238

 
1.7
%
 
 
 
7
Albertsons Companies, Inc. (6)
 
 
23

 
1,295,471

 
1.5
%
 
14,048

 
1.5
%
 
 
 
8
Burlington Stores, Inc.
 
 
 
20

 
1,452,122

 
1.7
%
 
11,340

 
1.2
%
 
 
 
9
Bed Bath & Beyond Inc. (7)
 
 
 
30

 
736,350

 
0.9
%
 
9,394

 
1.0
%
 
 
 
10
Big Lots, Inc.
 
 
 
46

 
1,527,517

 
1.8
%
 
9,393

 
1.0
%
 
 
 
 
TOP 10 RETAILERS
 
 
 
548

 
21,285,864

 
24.9
%
 
175,247

 
18.4
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11
PetSmart, Inc. (8)
 
 
 
30

 
652,714

 
0.8
%
 
9,391

 
1.0
%
 
 
 
12
Ross Stores, Inc. (9)
 
 
 
31

 
860,356

 
1.0
%
 
9,366

 
1.0
%
 
 
 
13
Best Buy Co., Inc.
 
 
 
16

 
660,392

 
0.8
%
 
8,967

 
0.9
%
 
 
 
14
Sears Holdings Corporation (10)
 
 
21

 
2,027,931

 
2.4
%
 
8,839

 
0.9
%
 
 
 
15
Office Depot, Inc. (11)
 
 
 
32

 
705,127

 
0.8
%
 
7,870

 
0.8
%
 
 
 
16
PETCO Animal Supplies, Inc. (12)
 
 
34

 
450,480

 
0.5
%
 
7,491

 
0.8
%
 
 
 
17
Kohl's Corporation
 
 
 
12

 
1,002,715

 
1.2
%
 
7,335

 
0.8
%
 
 
 
18
Staples, Inc.
 
 
 
28

 
586,564

 
0.7
%
 
7,064

 
0.7
%
 
 
 
19
Party City Corporation
 
 
 
34

 
480,983

 
0.6
%
 
7,051

 
0.7
%
 
 
 
20
DICK'S Sporting Goods, Inc. (13)
 
 
12

 
493,856

 
0.6
%
 
6,660

 
0.7
%
 
 
 
 
TOP 20 RETAILERS
 
 
 
798

 
29,206,982

 
34.3
%
 
255,281

 
26.7
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
21
L.A. Fitness International, LLC
 
 
11

 
429,035

 
0.5
%
 
6,386

 
0.7
%
 
 
 
22
Mattress Firm, Inc.
 
 
 
48

 
280,415

 
0.3
%
 
6,223

 
0.6
%
 
 
 
23
Ascena Retail Group, Inc. (14)
 
 
54

 
325,657

 
0.4
%
 
6,125

 
0.6
%
 
 
 
24
Hobby Lobby Stores, Inc.
 
 
 
15

 
918,619

 
1.1
%
 
6,035

 
0.6
%
 
 
 
25
The Home Depot, Inc.
 
 
 
8

 
799,388

 
0.9
%
 
5,755

 
0.6
%
 
 
 
26
Michaels Stores, Inc.
 
 
 
24

 
529,205

 
0.6
%
 
5,665

 
0.6
%
 
 
 
27
H.E. Butt Grocery Company (15)
 
 
7

 
419,204

 
0.5
%
 
5,262

 
0.5
%
 
 
 
28
CVS Health
 
 
 
23

 
309,120

 
0.4
%
 
5,016

 
0.5
%
 
 
 
29
Southeastern Grocers (16)
 
 
 
14

 
653,809

 
0.8
%
 
4,920

 
0.5
%
 
 
 
30
ULTA Beauty (17)
 
 
 
20

 
226,695

 
0.3
%
 
4,788

 
0.5
%
 
 
 
31
Giant Eagle, Inc.
 
 
 
6

 
460,120

 
0.5
%
 
4,460

 
0.5
%
 
 
 
32
Walgreen Co.
 
 
 
18

 
260,314

 
0.3
%
 
4,358

 
0.5
%
 
 
 
33
Sally Beauty Holdings, Inc.
 
 
 
116

 
195,245

 
0.2
%
 
4,314

 
0.4
%
 
 
 
34
DSW Inc.
 
 
 
14

 
259,181

 
0.3
%
 
4,297

 
0.4
%
 
 
 
35
Jo-Ann Stores, Inc.
 
 
 
23

 
422,396

 
0.5
%
 
4,216

 
0.4
%
 
 
 
36
Payless ShoeSource
 
 
 
66

 
202,647

 
0.2
%
 
4,174

 
0.4
%
 
 
 
37
Gap, Inc. (18)
 
 
 
16

 
249,313

 
0.3
%
 
4,173

 
0.4
%
 
 
 
38
Stein Mart, Inc.
 
 
 
13

 
459,393

 
0.5
%
 
4,028

 
0.4
%
 
 
 
39
Barnes & Noble, Inc.
 
 
 
10

 
224,673

 
0.3
%
 
3,983

 
0.4
%
 
 
 
40
Beall's, Inc. (19)
 
 
 
24

 
559,116

 
0.7
%
 
3,976

 
0.4
%
 
 
 
 
TOTAL TOP 40 RETAILERS
 
 
1,328

 
37,390,527

 
43.9
%
 
$
353,435

 
36.6
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Includes Kroger (55), Harris Teeter (3), King Soopers (3), Ralphs (2), Smith's (2),
 
(6) Includes Vons (4), Albertsons (3), Acme (3), Randalls (3), Tom Thumb (2), Dominick's (2),
(13) Includes DICK'S Sporting Goods (9) and Golf Galaxy (3).
Pick ' N Save (2), Dillons (1), Food 4 Less (1) and Pay Less (1).
 
 
Shaw's (2), Jewel-Osco (1), Shop & Save Market (1), Star Market (1) and $.99 Only Store (1).
(14) Includes dressbarn (21), Catherines (11), Lane Bryant (8),
(2) Includes T.J. Maxx (48), Marshalls (35), HomeGoods (10) and Sierra Trading Post (1).
(7) Includes Bed Bath & Beyond (16), Harmon Face Values (6), Christmas Tree Shops (4),
Justice (7), maurices (6) and Ann Taylor (1).
Excludes Marshalls / HomeGoods and Sierra Trading Post at development property.
 
Cost Plus World Market (2) and buybuy BABY (2).
 
 
(15) Includes H-E-B (6) and Central Market (1).
(3) Includes Dollar Tree (131), Family Dollar (35), Deals (1) and Dollar Stop (1).
 
(8) Excludes PetSmart at development property.
 
 
 
(16) Includes Winn-Dixie (8), BI-LO (3) and Harveys (3).
(4) Includes Supercenters (14), Discount Stores (8), Walmart Neighborhood
 
 
(9) Includes Ross Dress for Less (29) and dd's Discounts (2).
 
 
(17) Excludes ULTA at development property.
Market (5) and Sam's Club (1).
 
 
(10) Includes Kmart (18), Sears (2) and Sears Essentials (1).
 
 
(18) Includes Old Navy (12), GAP Factory (2), GAP (1) and
(5) Includes Giant Food (9), Food Lion (7), Super Stop & Shop (7), Bottom Dollar Food (1),
(11) Includes Office Depot (17) and OfficeMax (15).
 
 
Banana Republic Factory (1).
Hannaford (1), Martin's Food Markets (1), ShopRite (1), Stop & Shop (1) and Tops (1).
 
(12) Includes PETCO (33) and Unleashed (1).
 
 
 
(19) Includes Burkes Outlet (12), Bealls Outlet (10) and Bealls (2).

Supplemental Disclosure - Three Months Ended December 31, 2016
Page 29
jpgstandardlogoa17.jpg




NEW & RENEWAL LEASE SUMMARY
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Tenant Improvements and Allowances PSF (1)
 
Third Party Leasing Commissions PSF
 
Weighted Average Lease Term (years)
 
Comparable Only
 
 
 
 
 
 
Leases
 
GLA
 
New ABR
 
New ABR/SF
 
 
 
 
Leases
 
GLA
 
New ABR/SF
 
Old ABR/SF
 
Rent
Spread
 
 
 
 
TOTAL - NEW, RENEWAL & OPTION
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 12/31/16
 
453

 
2,974,137

 
$
39,687

 
$
13.34

 
$
6.47

 
$
0.98

 
6.5

 
379

 
2,512,974

 
$
13.87

 
$
12.11

 
14.5
%
 
 
 
 
Three months ended 9/30/16
 
513

 
3,548,517

 
41,899

 
11.81

 
5.02

 
0.79

 
5.5

 
390

 
2,981,503

 
11.38

 
10.26

 
10.9
%
 
 
 
 
Three months ended 6/30/16
 
554

 
3,589,288

 
47,278

 
13.17

 
5.02

 
1.00

 
6.2

 
435

 
3,089,607

 
13.06

 
11.65

 
12.1
%
 
 
 
 
Three months ended 3/31/16
 
497

 
3,571,385

 
47,678

 
13.35

 
5.24

 
0.65

 
5.9

 
396

 
3,125,180

 
13.17

 
11.88

 
10.9
%
 
 
 
 
TOTAL - TTM
 
2,017

 
13,683,327

 
$
176,542

 
$
12.90

 
$
5.39

 
$
0.85

 
6.0

 
1,600

 
11,709,264

 
$
12.84

 
$
11.46

 
12.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NEW & RENEWAL ONLY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 12/31/16
 
376

 
1,989,990

 
$
28,856

 
$
14.50

 
$
9.64

 
$
1.46

 
7.1

 
302

 
1,528,827

 
$
15.72

 
$
13.20

 
19.1
%
 
 
 
 
Three months ended 9/30/16
 
420

 
2,042,244

 
27,362

 
13.40

 
8.72

 
1.38

 
5.9

 
297

 
1,475,230

 
13.14

 
11.46

 
14.7
%
 
 
 
 
Three months ended 6/30/16
 
467

 
2,066,939

 
32,408

 
15.68

 
8.73

 
1.74

 
7.1

 
348

 
1,567,258

 
16.25

 
14.06

 
15.6
%
 
 
 
 
Three months ended 3/31/16
 
402

 
1,780,225

 
28,131

 
15.80

 
10.52

 
1.31

 
7.1

 
301

 
1,334,020

 
16.21

 
13.94

 
16.3
%
 
 
 
 
TOTAL - TTM
 
1,665

 
7,879,398

 
$
116,757

 
$
14.82

 
$
9.36

 
$
1.48

 
6.8

 
1,248

 
5,905,335

 
$
15.33

 
$
13.16

 
16.5
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NEW LEASES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 12/31/16
 
128

 
805,490

 
$
11,303

 
$
14.03

 
$
16.89

 
$
3.56

 
9.6

 
60

 
453,301

 
$
15.92

 
$
11.43

 
39.3
%
 
 
 
 
Three months ended 9/30/16
 
191

 
834,401

 
12,955

 
15.53

 
20.83

 
3.37

 
8.4

 
68

 
267,387

 
18.59

 
14.73

 
26.2
%
 
 
 
 
Three months ended 6/30/16
 
209

 
893,212

 
14,079

 
15.76

 
19.52

 
3.86

 
8.9

 
90

 
393,531

 
18.16

 
14.56

 
24.7
%
 
 
 
 
Three months ended 3/31/16
 
169

 
852,315

 
12,687

 
14.89

 
21.46

 
2.58

 
9.2

 
68

 
406,110

 
15.22

 
11.28

 
34.9
%
 
 
 
 
TOTAL - TTM
 
697

 
3,385,418

 
$
51,024

 
$
15.07

 
$
19.71

 
$
3.35

 
9.0

 
286

 
1,520,329

 
$
16.78

 
$
12.78

 
31.3
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
RENEWAL LEASES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 12/31/16
 
248

 
1,184,500

 
$
17,553

 
$
14.82

 
$
4.71

 
$
0.03

 
5.5

 
242

 
1,075,526

 
$
15.64

 
$
13.94

 
12.2
%
 
 
 
 
Three months ended 9/30/16
 
229

 
1,207,843

 
14,407

 
11.93

 
0.35

 
—

 
4.1

 
229

 
1,207,843

 
11.93

 
10.73

 
11.2
%
 
 
 
 
Three months ended 6/30/16
 
258

 
1,173,727

 
18,329

 
15.62

 
0.51

 
0.13

 
5.8

 
258

 
1,173,727

 
15.62

 
13.89

 
12.5
%
 
 
 
 
Three months ended 3/31/16
 
233

 
927,910

 
15,444

 
16.64

 
0.46

 
0.14

 
5.1

 
233

 
927,910

 
16.64

 
15.11

 
10.1
%
 
 
 
 
TOTAL - TTM
 
968

 
4,493,980

 
$
65,733

 
$
14.63

 
$
1.57

 
$
0.07

 
5.1

 
962

 
4,385,006

 
$
14.82

 
$
13.29

 
11.5
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
OPTION LEASES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 12/31/16
 
77

 
984,147

 
$
10,831

 
$
11.01

 
$
0.05

 
$
—

 
5.1

 
77

 
984,147

 
$
11.01

 
$
10.41

 
5.8
%
 
 
 
 
Three months ended 9/30/16
 
93

 
1,506,273

 
14,537

 
9.65

 
—

 
—

 
5.0

 
93

 
1,506,273

 
9.65

 
9.09

 
6.2
%
 
 
 
 
Three months ended 6/30/16
 
87

 
1,522,349

 
14,870

 
9.77

 
—

 
—

 
5.0

 
87

 
1,522,349

 
9.77

 
9.18

 
6.4
%
 
 
 
 
Three months ended 3/31/16
 
95

 
1,791,160

 
19,547

 
10.91

 
—

 
—

 
4.7

 
95

 
1,791,160

 
10.91

 
10.34

 
5.5
%
 
 
 
 
TOTAL - TTM
 
352

 
5,803,929

 
$
59,785

 
$
10.30

 
$
0.01

 
$
—

 
4.9

 
352

 
5,803,929

 
$
10.30

 
$
9.72

 
6.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
LEASES BY ANCHOR AND SMALL SHOP
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended 12/31/16
 
 
 
TTM Ended 12/31/16
 
 
 
 
 
 
 
 
% of Leases
 
% of GLA
 
% of ABR
 
New ABR/SF
 
Rent Spread (2)
 
 
 
% of Leases
 
% of GLA
 
% of ABR
 
New ABR/SF
 
Rent Spread (2)
 
 
 
Anchor Leases (≥ 10,000 SF)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total - New, Renewal & Option
 
 
13
%
 
64
%
 
47
%
 
$
9.84

 
17.5
%
 
 
 
14
%
 
66
%
 
48
%
 
$
9.37

 
10.8
%
 
 
 
 
New & Renewal Only
 
 
 
10
%
 
54
%
 
41
%
 
11.08

 
28.6
%
 
 
 
9
%
 
51
%
 
36
%
 
10.38

 
20.1
%
 
 
 
 
New Leases
 
 
 
15
%
 
61
%
 
51
%
 
11.86

 
47.3
%
 
 
 
10
%
 
50
%
 
40
%
 
12.05

 
44.0
%
 
 
 
 
Renewal Leases
 
 
 
7
%
 
50
%
 
35
%
 
10.44

 
17.3
%
 
 
 
8
%
 
51
%
 
32
%
 
9.14

 
9.6
%
 
 
 
 
Option Leases
 
 
 
30
%
 
83
%
 
62
%
 
8.20

 
4.2
%
 
 
 
38
%
 
87
%
 
72
%
 
8.58

 
4.8
%
 
 
 
Small Shop Leases (< 10,000 SF)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total - New, Renewal & Option
 
 
87
%
 
36
%
 
53
%
 
$
19.54

 
12.1
%
 
 
 
86
%
 
34
%
 
52
%
 
$
19.80

 
13.4
%
 
 
 
 
New & Renewal Only
 
 
 
90
%
 
46
%
 
59
%
 
18.56

 
13.2
%
 
 
 
91
%
 
49
%
 
64
%
 
19.40

 
14.5
%
 
 
 
 
New Leases
 
 
 
85
%
 
39
%
 
49
%
 
17.38

 
29.1
%
 
 
 
90
%
 
50
%
 
60
%
 
18.13

 
21.9
%
 
 
 
 
Renewal Leases
 
 
 
93
%
 
50
%
 
65
%
 
19.18

 
9.7
%
 
 
 
92
%
 
49
%
 
68
%
 
20.38

 
12.5
%
 
 
 
 
Option Leases
 
 
 
70
%
 
17
%
 
38
%
 
24.99

 
8.4
%
 
 
 
62
%
 
13
%
 
28
%
 
21.88

 
9.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Excludes landlord work.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(2) Comparable leases only.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Includes development properties. Excludes leases executed for less than one year.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ABR/SF includes the GLA of lessee owned leasehold improvements.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended December 31, 2016
Page 30
jpgstandardlogoa17.jpg




NEW LEASE NET EFFECTIVE RENT
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Twelve Months Ended
 
Three Months Ended
 
 
 
 
 
12/31/16
 
12/31/16
 
9/30/16
 
6/30/16
 
3/31/16
 
 
NEW LEASES
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average over lease term:
 
 
 
 
 
 
 
 
 
 
 
 
 
Base rent
 
$
16.01

 
$
14.81

 
$
16.62

 
$
16.90

 
$
15.63

 
 
 
Tenant improvements and allowances
 
(2.22
)
 
(1.78
)
 
(2.39
)
 
(2.29
)
 
(2.39
)
 
 
 
Tenant specific landlord work
 
(0.26
)
 
(0.34
)
 
(0.25
)
 
(0.25
)
 
(0.20
)
 
 
 
Third party leasing commissions
 
(0.37
)
 
(0.37
)
 
(0.39
)
 
(0.40
)
 
(0.30
)
 
 
EQUIVALENT NET EFFECTIVE RENT
 
$
13.16

 
$
12.32

 
$
13.59

 
$
13.96

 
$
12.74

 
 
Net effective rent / base rent
 
82
%
 
83
%
 
82
%
 
83
%
 
82
%
 
 
Weighted average term (years)
 
9.0
%
 
9.6
%
 
8.4
%
 
8.9
%
 
9.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PERCENT OF TOTAL EQUIVALENT NET EFFECTIVE RENT BY ANCHOR AND SMALL SHOP
 
 
 
 
 
 
 
≥ 10,000 SF
 
38
%
 
50
%
 
31
%
 
36
%
 
38
%
 
 
 
< 10,000 SF
 
62
%
 
50
%
 
69
%
 
64
%
 
62
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Includes development properties.
 
 
 
 
 
 
 
 
 
 
 
ABR/SF includes the GLA of lessee owned leasehold improvements.
 
 
 
 
 
 
 
 
 
 
 


Supplemental Disclosure - Three Months Ended December 31, 2016
Page 31
jpgstandardlogoa17.jpg




LEASE EXPIRATION SCHEDULE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ASSUMES NO EXERCISE OF RENEWAL OPTIONS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL PORTFOLIO
 
 
SPACES > 10,000 SF
 
 
SPACES < 10,000 SF
 
 
 
 
Number
 
 
 
% of
 
% of
 
 
 
ABR/SF
 
 
Number
 
 
 
% of
 
% of
 
 
 
ABR/SF
 
 
Number
 
 
 
% of
 
% of
 
 
 
ABR/SF
 
 
 
 
of
 
Leased
 
Leased
 
In-Place
 
In-place
 
at
 
 
of
 
Leased
 
Leased
 
In-Place
 
In-place
 
at
 
 
of
 
Leased
 
Leased
 
In-Place
 
In-place
 
at
 
 
 
 
Leases
 
GLA
 
GLA
 
ABR
 
ABR/SF
 
Expiration
 
 
Leases
 
GLA
 
GLA
 
ABR
 
ABR/SF
 
Expiration
 
 
Leases
 
GLA
 
GLA
 
ABR
 
ABR/SF
 
Expiration
 
 
M-M
 
307

 
856,675

 
1.1
%
 
1.3
%
 
$
14.32

 
$
14.32

 
 
16

 
233,061

 
0.4
%
 
0.5
%
 
$
10.83

 
$
10.83

 
 
291

 
623,614

 
2.9
%
 
2.3
%
 
$
15.63

 
$
15.63

 
 
2017
 
1,463

 
7,738,485

 
9.7
%
 
10.1
%
 
12.55

 
12.56

 
 
148

 
4,505,029

 
7.8
%
 
7.0
%
 
8.24

 
8.24

 
 
1,315

 
3,233,456

 
14.9
%
 
14.0
%
 
18.55

 
18.59

 
 
2018
 
1,600

 
9,973,312

 
12.5
%
 
13.2
%
 
12.70

 
12.79

 
 
211

 
6,347,785

 
10.9
%
 
10.8
%
 
9.02

 
9.06

 
 
1,389

 
3,625,527

 
16.7
%
 
16.2
%
 
19.15

 
19.33

 
 
2019
 
1,477

 
10,884,436

 
13.6
%
 
13.3
%
 
11.75

 
11.90

 
 
220

 
7,442,210

 
12.8
%
 
12.1
%
 
8.61

 
8.63

 
 
1,257

 
3,442,226

 
15.8
%
 
14.9
%
 
18.54

 
18.98

 
 
2020
 
1,283

 
11,552,592

 
14.5
%
 
13.4
%
 
11.11

 
11.33

 
 
252

 
8,750,153

 
15.1
%
 
13.6
%
 
8.26

 
8.33

 
 
1,031

 
2,802,439

 
12.9
%
 
13.1
%
 
19.99

 
20.70

 
 
2021
 
1,172

 
10,401,714

 
13.0
%
 
12.8
%
 
11.80

 
12.11

 
 
225

 
7,694,354

 
13.2
%
 
12.9
%
 
8.89

 
8.96

 
 
947

 
2,707,360

 
12.4
%
 
12.7
%
 
20.09

 
21.08

 
 
2022
 
597

 
6,985,055

 
8.7
%
 
8.2
%
 
11.26

 
12.01

 
 
166

 
5,568,748

 
9.6
%
 
9.4
%
 
8.95

 
9.34

 
 
431

 
1,416,307

 
6.5
%
 
6.7
%
 
20.34

 
22.50

 
 
2023
 
301

 
3,443,046

 
4.3
%
 
4.1
%
 
11.48

 
12.37

 
 
96

 
2,673,837

 
4.6
%
 
4.5
%
 
9.00

 
9.58

 
 
205

 
769,209

 
3.5
%
 
3.6
%
 
20.09

 
22.09

 
 
2024
 
310

 
3,734,494

 
4.7
%
 
4.6
%
 
11.80

 
12.87

 
 
89

 
2,929,717

 
5.0
%
 
5.1
%
 
9.28

 
9.87

 
 
221

 
804,777

 
3.7
%
 
3.9
%
 
20.99

 
23.80

 
 
2025
 
275

 
3,175,408

 
4.0
%
 
4.4
%
 
13.39

 
14.48

 
 
86

 
2,478,985

 
4.3
%
 
5.2
%
 
11.05

 
11.62

 
 
189

 
696,423

 
3.2
%
 
3.5
%
 
21.71

 
24.66

 
 
2026
 
323

 
3,266,969

 
4.1
%
 
4.9
%
 
14.52

 
15.75

 
 
86

 
2,432,509

 
4.2
%
 
5.2
%
 
11.27

 
11.72

 
 
237

 
834,460

 
3.8
%
 
4.7
%
 
23.99

 
27.50

 
 
2027+
378

 
7,832,731

 
9.8
%
 
9.7
%
 
11.84

 
13.59

 
 
169

 
7,036,684

 
12.1
%
 
13.8
%
 
10.42

 
11.73

 
 
209.00

 
796,047

 
3.7
%
 
4.5
%
 
24.33

 
29.96

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ASSUMES EXERCISE OF ALL RENEWAL OPTIONS (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL PORTFOLIO
 
 
SPACES > 10,000 SF
 
 
SPACES < 10,000 SF
 
 
 
 
Number
 
 
 
% of
 
% of
 
 
 
ABR/SF
 
 
Number
 
 
 
% of
 
% of
 
 
 
ABR/SF
 
 
Number
 
 
 
% of
 
% of
 
 
 
ABR/SF
 
 
 
 
of
 
Leased
 
Leased
 
In-Place
 
In-place
 
at
 
 
of
 
Leased
 
Leased
 
In-Place
 
In-place
 
at
 
 
of
 
 
 
Leased
 
In-Place
 
In-place
 
at
 
 
 
 
Leases
 
GLA
 
GLA
 
ABR
 
ABR/SF
 
Expiration
 
 
Leases
 
GLA
 
GLA
 
ABR
 
ABR/SF
 
Expiration
 
 
Leases
 
GLA
 
GLA
 
ABR
 
ABR/SF
 
Expiration
 
 
M-M
 
307

 
856,675

 
1.1
%
 
1.3
%
 
$
14.32

 
$
14.77

 
 
16

 
233,061

 
0.4
%
 
0.5
%
 
$
10.83

 
$
12.08

 
 
291

 
623,614

 
2.9
%
 
2.3
%
 
$
15.63

 
$
15.77

 
 
2017
 
1,080

 
3,536,828

 
4.4
%
 
5.3
%
 
14.43

 
14.46

 
 
55

 
1,183,212

 
2.0
%
 
1.7
%
 
7.85

 
7.85

 
 
1,025

 
2,353,616

 
10.8
%
 
9.7
%
 
17.74

 
17.78

 
 
2018
 
998

 
3,324,721

 
4.2
%
 
5.3
%
 
15.41

 
15.59

 
 
56

 
1,208,673

 
2.1
%
 
2.0
%
 
9.00

 
9.13

 
 
942

 
2,116,048

 
9.7
%
 
9.4
%
 
19.08

 
19.27

 
 
2019
 
853

 
3,113,996

 
3.9
%
 
4.8
%
 
14.66

 
15.06

 
 
47

 
1,170,053

 
2.0
%
 
1.9
%
 
8.57

 
8.69

 
 
806

 
1,943,943

 
8.9
%
 
8.3
%
 
18.33

 
18.90

 
 
2020
 
771

 
3,351,168

 
4.2
%
 
4.9
%
 
14.06

 
14.61

 
 
54

 
1,594,074

 
2.7
%
 
2.4
%
 
7.94

 
8.15

 
 
717

 
1,757,094

 
8.1
%
 
8.0
%
 
19.61

 
20.47

 
 
2021
 
750

 
2,612,277

 
3.3
%
 
4.6
%
 
16.82

 
17.78

 
 
40

 
854,055

 
1.5
%
 
1.6
%
 
9.92

 
10.18

 
 
710

 
1,758,222

 
8.1
%
 
8.3
%
 
20.17

 
21.48

 
 
2022
 
484

 
1,975,227

 
2.5
%
 
3.4
%
 
16.34

 
18.03

 
 
35

 
692,273

 
1.2
%
 
1.3
%
 
9.90

 
10.72

 
 
449

 
1,282,954

 
5.9
%
 
5.9
%
 
19.81

 
21.97

 
 
2023
 
433

 
2,137,121

 
2.7
%
 
3.4
%
 
15.08

 
16.50

 
 
48

 
970,891

 
1.7
%
 
1.7
%
 
9.25

 
10.27

 
 
385

 
1,166,230

 
5.4
%
 
5.4
%
 
19.94

 
21.68

 
 
2024
 
418

 
2,678,312

 
3.4
%
 
3.4
%
 
12.15

 
13.54

 
 
50

 
1,581,378

 
2.7
%
 
2.2
%
 
7.26

 
7.93

 
 
368

 
1,096,934

 
5.0
%
 
4.9
%
 
19.20

 
21.63

 
 
2025
 
353

 
2,402,875

 
3.0
%
 
3.2
%
 
12.62

 
14.16

 
 
62

 
1,567,346

 
2.7
%
 
2.5
%
 
8.50

 
9.39

 
 
291

 
835,529

 
3.8
%
 
4.0
%
 
20.35

 
23.11

 
 
2026
 
346

 
2,361,039

 
3.0
%
 
3.4
%
 
13.80

 
15.64

 
 
47

 
1,369,448

 
2.4
%
 
2.2
%
 
8.70

 
9.58

 
 
299

 
991,591

 
4.6
%
 
4.8
%
 
20.84

 
24.01

 
 
2027+
2,693

 
51,494,678

 
64.5
%
 
57.2
%
 
10.66

 
15.81

 
 
1,254

 
45,668,608

 
78.6
%
 
80.0
%
 
9.30

 
14.26

 
 
1,439

 
5,826,070

 
26.8
%
 
29.0
%
 
21.32

 
27.98

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(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 the GLA of lessee owned leasehold improvements.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
LEASE RETENTION RATE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
By Count

 
By GLA
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Twelve Months Ended 12/31/16
 
 
 
78.6%
 
84.3%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


Supplemental Disclosure - Three Months Ended December 31, 2016
Page 32
jpgstandardlogoa17.jpg




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 2015 Population
 
 
 
Properties
 
 GLA
 
Billed
 
Leased
 
 ABR
 
 ABR / SF
 
Properties
 
of GLA
 
of ABR
 
 
1

New York-Newark-Jersey City, NY-NJ-PA
 
 
 
30

 
3,633,095

 
89.0
%
 
91.3
%
 
$
64,351

 
$
19.58

 
5.9
%
 
4.2
%
 
6.7
%
 
 
2

Los Angeles-Long Beach-Anaheim, CA
 
 
 
9

 
1,684,984

 
98.2
%
 
99.1
%
 
29,517

 
19.40

 
1.8
%
 
2.0
%
 
3.1
%
 
 
3

Chicago-Naperville-Elgin, IL-IN-WI
 
 
 
16

 
4,020,325

 
89.8
%
 
90.8
%
 
45,774

 
13.09

 
3.1
%
 
4.7
%
 
4.8
%
 
 
4

Dallas-Fort Worth-Arlington, TX
 
 
 
16

 
3,088,140

 
92.1
%
 
94.0
%
 
43,705

 
15.22

 
3.1
%
 
3.6
%
 
4.6
%
 
 
5

Houston-The Woodlands-Sugar Land, TX
 
 
 
36

 
4,532,259

 
88.3
%
 
91.0
%
 
46,700

 
11.80

 
7.0
%
 
5.3
%
 
4.9
%
 
 
6

Washington-Arlington-Alexandria, DC-VA-MD-WV
 
 
3

 
451,260

 
97.8
%
 
99.3
%
 
4,949

 
11.05

 
0.6
%
 
0.5
%
 
0.5
%
 
 
7

Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
 
27

 
4,276,454

 
92.4
%
 
95.6
%
 
56,518

 
15.76

 
5.3
%
 
5.0
%
 
5.9
%
 
 
8

Miami-Fort Lauderdale-West Palm Beach, FL
 
 
 
9

 
1,486,760

 
86.4
%
 
89.4
%
 
17,876

 
14.03

 
1.8
%
 
1.7
%
 
1.9
%
 
 
9

Atlanta-Sandy Springs-Roswell, GA
 
 
 
25

 
3,663,048

 
90.3
%
 
93.4
%
 
36,677

 
11.02

 
4.9
%
 
4.3
%
 
3.8
%
 
 
10

Boston-Cambridge-Newton, MA-NH
 
 
 
6

 
710,309

 
86.2
%
 
96.4
%
 
8,263

 
12.40

 
1.2
%
 
0.8
%
 
0.9
%
 
 
 
Top 10 Largest US MSAs by Population
 
 
 
177

 
27,546,634

 
90.5
%
 
93.1
%
 
354,330

 
14.50

 
34.7
%
 
32.1
%
 
37.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11

San Francisco-Oakland-Hayward, CA
 
 
 
2

 
506,576

 
88.3
%
 
96.7
%
 
9,623

 
24.45

 
0.4
%
 
0.6
%
 
1.0
%
 
 
12

Phoenix-Mesa-Scottsdale, AZ
 
 
 
1

 
119,525

 
69.2
%
 
70.3
%
 
1,098

 
13.07

 
0.2
%
 
0.1
%
 
0.1
%
 
 
13

Riverside-San Bernardino-Ontario, CA
 
 
 
4

 
537,088

 
92.5
%
 
97.5
%
 
7,128

 
15.19

 
0.8
%
 
0.6
%
 
0.7
%
 
 
14

Detroit-Warren-Dearborn, MI
 
 
 
9

 
1,600,883

 
90.7
%
 
93.8
%
 
17,275

 
12.39

 
1.8
%
 
1.9
%
 
1.8
%
 
 
15

Seattle-Tacoma-Bellevue, WA
 
 
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
16

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

 
1,179,623

 
89.8
%
 
91.4
%
 
13,383

 
13.22

 
1.6
%
 
1.4
%
 
1.4
%
 
 
17

San Diego-Carlsbad, CA
 
 
 
3

 
633,896

 
95.9
%
 
97.7
%
 
11,953

 
19.80

 
0.6
%
 
0.7
%
 
1.2
%
 
 
18

Tampa-St. Petersburg-Clearwater, FL
 
 
 
15

 
2,401,903

 
92.4
%
 
93.7
%
 
28,383

 
13.67

 
2.9
%
 
2.8
%
 
3.0
%
 
 
19

Denver-Aurora-Lakewood, CO
 
 
 
5

 
1,192,781

 
91.8
%
 
96.7
%
 
14,800

 
12.89

 
1.0
%
 
1.4
%
 
1.5
%
 
 
20

St. Louis, MO-IL
 
 
 
4

 
658,665

 
75.1
%
 
86.6
%
 
5,012

 
8.83

 
0.8
%
 
0.8
%
 
0.5
%
 
 
 
Top 20 Largest US MSAs by Population
 
 
 
228

 
36,377,574

 
90.4
%
 
93.2
%
 
462,985

 
14.38

 
44.8
%
 
42.4
%
 
48.3
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
21

Baltimore-Columbia-Towson, MD
 
 
 
1

 
218,862

 
100.0
%
 
100.0
%
 
2,641

 
12.07

 
0.2
%
 
0.3
%
 
0.3
%
 
 
22

Charlotte-Concord-Gastonia, NC-SC
 
 
 
6

 
1,708,512

 
90.2
%
 
90.2
%
 
14,382

 
10.24

 
1.1
%
 
2.0
%
 
1.5
%
 
 
23

Portland-Vancouver-Hillsboro, OR-WA
 
 
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
24

Orlando-Kissimmee-Sanford, FL
 
 
 
6

 
963,156

 
94.7
%
 
95.1
%
 
16,109

 
17.95

 
1.1
%
 
1.1
%
 
1.7
%
 
 
25

San Antonio-New Braunfels, TX
 
 
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
26

Pittsburgh, PA
 
 
 
1

 
199,079

 
100.0
%
 
100.0
%
 
1,914

 
10.66

 
0.2
%
 
0.2
%
 
0.2
%
 
 
27

Sacramento--Roseville--Arden-Arcade, CA
 
 
 
1

 
103,695

 
95.3
%
 
95.3
%
 
1,833

 
18.56

 
0.2
%
 
0.1
%
 
0.2
%
 
 
28

Cincinnati, OH-KY-IN
 
 
 
7

 
1,931,880

 
96.1
%
 
97.6
%
 
21,257

 
14.15

 
1.3
%
 
2.2
%
 
2.2
%
 
 
29

Las Vegas-Henderson-Paradise, NV
 
 
 
3

 
613,061

 
94.3
%
 
95.4
%
 
8,346

 
16.17

 
0.6
%
 
0.7
%
 
0.9
%
 
 
30

Kansas City, MO-KS
 
 
 
4

 
602,466

 
90.0
%
 
92.0
%
 
4,359

 
8.00

 
0.8
%
 
0.7
%
 
0.5
%
 
 
31

Cleveland-Elyria, OH
 
 
 
6

 
1,223,440

 
93.5
%
 
95.8
%
 
13,057

 
11.17

 
1.1
%
 
1.4
%
 
1.4
%
 
 
32

Columbus, OH
 
 
 
4

 
449,488

 
87.3
%
 
88.9
%
 
3,941

 
10.37

 
0.8
%
 
0.5
%
 
0.4
%
 
 
33

Austin-Round Rock, TX
 
 
 
1

 
169,552

 
83.0
%
 
100.0
%
 
1,819

 
10.73

 
0.2
%
 
0.2
%
 
0.2
%
 
 
34

Indianapolis-Carmel-Anderson, IN
 
 
 
4

 
881,418

 
80.8
%
 
82.3
%
 
6,450

 
8.93

 
0.8
%
 
1.0
%
 
0.7
%
 
 
35

San Jose-Sunnyvale-Santa Clara, CA
 
 
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
36

Nashville-Davidson--Murfreesboro--Franklin, TN
 
 
 
7

 
1,279,571

 
93.2
%
 
94.3
%
 
13,229

 
11.02

 
1.3
%
 
1.5
%
 
1.3
%
 
 
37

Virginia Beach-Norfolk-Newport News, VA-NC
 
 
 
2

 
205,257

 
97.7
%
 
97.7
%
 
3,357

 
16.87

 
0.4
%
 
0.2
%
 
0.3
%
 
 
38

Providence-Warwick, RI-MA
 
 
 
1

 
148,126

 
83.8
%
 
83.8
%
 
1,356

 
10.92

 
0.2
%
 
0.2
%
 
0.1
%
 
 
39

Milwaukee-Waukesha-West Allis, WI
 
 
 
4

 
710,327

 
89.4
%
 
90.7
%
 
6,682

 
10.37

 
0.8
%
 
0.8
%
 
0.7
%
 
 
40

Jacksonville, FL
 
 
 
5

 
827,508

 
82.3
%
 
83.6
%
 
8,173

 
12.30

 
1.0
%
 
1.0
%
 
0.9
%
 
 
41

Oklahoma City, OK
 
 
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
42

Memphis, TN-MS-AR
 
 
 
1

 
660,013

 
82.9
%
 
90.0
%
 
8,765

 
15.23

 
0.2
%
 
0.8
%
 
0.9
%
 

Supplemental Disclosure - Three Months Ended December 31, 2016
Page 33
jpgstandardlogoa17.jpg




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 2015 Population
 
 
 
Properties
 
 GLA
 
Billed
 
Leased
 
 ABR
 
 ABR / SF
 
Properties
 
of GLA
 
of ABR
 
 
43

Louisville/Jefferson County, KY-IN
 
 
 
4

 
707,728

 
96.8
%
 
97.1
%
 
7,172

 
10.72

 
0.8
%
 
0.8
%
 
0.7
%
 
 
44

Raleigh, NC
 
 
 
2

 
291,027

 
71.4
%
 
88.9
%
 
3,390

 
13.21

 
0.4
%
 
0.3
%
 
0.4
%
 
 
45

Richmond, VA
 
 
 
2

 
215,897

 
70.4
%
 
71.9
%
 
2,492

 
16.06

 
0.4
%
 
0.3
%
 
0.3
%
 
 
46

New Orleans-Metairie, LA
 
 
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
47

Hartford-West Hartford-East Hartford, CT
 
 
 
4

 
891,680

 
93.7
%
 
94.6
%
 
11,710

 
16.56

 
0.8
%
 
1.0
%
 
1.2
%
 
 
48

Salt Lake City, UT
 
 
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
49

Birmingham-Hoover, AL
 
 
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
50

Buffalo-Cheektowaga-Niagara Falls, NY
 
 
 
1

 
95,544

 
97.9
%
 
97.9
%
 
1,379

 
15.13

 
0.2
%
 
0.1
%
 
0.1
%
 
 
 
Top 50 Largest US MSAs by Population
 
 
 
305

 
51,474,861

 
90.5
%
 
93.0
%
 
626,798

 
13.84

 
59.7
%
 
59.8
%
 
65.4
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
MSAs Ranked 51 - 100 by Population
 
 
 
66

 
11,509,670

 
89.8
%
 
91.3
%
 
117,656

 
12.37

 
12.8
%
 
13.4
%
 
12.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other MSAs
 
 
 
141

 
23,022,263

 
91.4
%
 
93.2
%
 
215,529

 
11.28

 
27.5
%
 
26.8
%
 
22.4
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL
 
 
 
512

 
86,006,794

 
90.7
%
 
92.8
%
 
$
959,983

 
$
12.99

 
100.0
%
 
100.0
%
 
100.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




Supplemental Disclosure - Three Months Ended December 31, 2016
Page 34
jpgstandardlogoa17.jpg




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
 
Billed
 
Leased
 
 ABR
 
 ABR / SF
 
Properties
 
of GLA
 
of ABR
 
 
1

New York-Newark-Jersey City, NY-NJ-PA
 
1
 
30

 
3,633,095

 
89.0
%
 
91.3
%
 
$
64,351

 
$
19.58

 
5.9
%
 
4.2
%
 
6.7
%
 
 
2

Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
7
 
27

 
4,276,454

 
92.4
%
 
95.6
%
 
56,518

 
15.76

 
5.3
%
 
5.0
%
 
5.9
%
 
 
3

Houston-The Woodlands-Sugar Land, TX
 
5
 
36

 
4,532,259

 
88.3
%
 
91.0
%
 
46,700

 
11.80

 
7.0
%
 
5.3
%
 
4.9
%
 
 
4

Chicago-Naperville-Elgin, IL-IN-WI
 
3
 
16

 
4,020,325

 
89.8
%
 
90.8
%
 
45,774

 
13.09

 
3.1
%
 
4.7
%
 
4.8
%
 
 
5

Dallas-Fort Worth-Arlington, TX
 
4
 
16

 
3,088,140

 
92.1
%
 
94.0
%
 
43,705

 
15.22

 
3.1
%
 
3.6
%
 
4.6
%
 
 
6

Atlanta-Sandy Springs-Roswell, GA
 
9
 
25

 
3,663,048

 
90.3
%
 
93.4
%
 
36,677

 
11.02

 
4.9
%
 
4.3
%
 
3.8
%
 
 
7

Los Angeles-Long Beach-Anaheim, CA
 
2
 
9

 
1,684,984

 
98.2
%
 
99.1
%
 
29,517

 
19.40

 
1.8
%
 
2.0
%
 
3.1
%
 
 
8

Tampa-St. Petersburg-Clearwater, FL
 
18
 
15

 
2,401,903

 
92.4
%
 
93.7
%
 
28,383

 
13.67

 
2.9
%
 
2.8
%
 
3.0
%
 
 
9

Cincinnati, OH-KY-IN
 
28
 
7

 
1,931,880

 
96.1
%
 
97.6
%
 
21,257

 
14.15

 
1.4
%
 
2.2
%
 
2.2
%
 
 
10

Miami-Fort Lauderdale-West Palm Beach, FL
 
8
 
9

 
1,486,760

 
86.4
%
 
89.4
%
 
17,876

 
14.03

 
1.8
%
 
1.7
%
 
1.9
%
 
 
 
10 Largest MSAs by ABR
 
—
 
190

 
30,718,848

 
91.0
%
 
93.2
%
 
390,758

 
14.52

 
37.2
%
 
35.8
%
 
40.9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11

Detroit-Warren-Dearborn, MI
 
14
 
9

 
1,600,883

 
90.7
%
 
93.8
%
 
17,275

 
12.39

 
1.8
%
 
1.9
%
 
1.8
%
 
 
12

Orlando-Kissimmee-Sanford, FL
 
24
 
6

 
963,156

 
94.7
%
 
95.1
%
 
16,109

 
17.95

 
1.2
%
 
1.1
%
 
1.7
%
 
 
13

Denver-Aurora-Lakewood, CO
 
19
 
5

 
1,192,781

 
91.8
%
 
96.7
%
 
14,800

 
12.89

 
1.0
%
 
1.4
%
 
1.5
%
 
 
14

Charlotte-Concord-Gastonia, NC-SC
 
22
 
6

 
1,708,512

 
90.2
%
 
90.2
%
 
14,382

 
10.24

 
1.2
%
 
2.0
%
 
1.5
%
 
 
15

Allentown-Bethlehem-Easton, PA-NJ
 
69
 
5

 
1,298,479

 
93.5
%
 
93.8
%
 
13,454

 
13.28

 
1.0
%
 
1.5
%
 
1.4
%
 
 
16

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

 
1,179,623

 
89.8
%
 
91.4
%
 
13,383

 
13.22

 
1.6
%
 
1.4
%
 
1.4
%
 
 
17

Nashville-Davidson--Murfreesboro--Franklin, TN
 
36
 
7

 
1,279,571

 
93.2
%
 
94.3
%
 
13,229

 
11.02

 
1.4
%
 
1.5
%
 
1.4
%
 
 
18

Cleveland-Elyria, OH
 
31
 
6

 
1,223,440

 
93.5
%
 
95.8
%
 
13,057

 
11.17

 
1.2
%
 
1.4
%
 
1.4
%
 
 
19

San Diego-Carlsbad, CA
 
17
 
3

 
633,896

 
95.9
%
 
97.7
%
 
11,953

 
19.80

 
0.6
%
 
0.7
%
 
1.2
%
 
 
20

Hartford-West Hartford-East Hartford, CT
 
47
 
4

 
891,680

 
93.7
%
 
94.6
%
 
11,710

 
16.56

 
0.8
%
 
1.0
%
 
1.2
%
 
 
 
20 Largest MSAs by ABR
 
—
 
249

 
42,690,869

 
91.4
%
 
93.4
%
 
530,110

 
14.15

 
49.0
%
 
49.7
%
 
55.4
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
21

Naples-Immokalee-Marco Island, FL
 
148
 
4

 
772,955

 
93.2
%
 
94.6
%
 
11,024

 
15.27

 
0.8
%
 
0.9
%
 
1.1
%
 
 
22

Oxnard-Thousand Oaks-Ventura, CA
 
66
 
3

 
677,512

 
98.1
%
 
98.9
%
 
10,986

 
16.74

 
0.6
%
 
0.8
%
 
1.1
%
 
 
23

Binghamton, NY
 
189
 
4

 
751,207

 
99.1
%
 
99.4
%
 
10,080

 
13.50

 
0.8
%
 
0.9
%
 
1.1
%
 
 
24

San Francisco-Oakland-Hayward, CA
 
11
 
2

 
506,576

 
88.3
%
 
96.7
%
 
9,623

 
24.45

 
0.4
%
 
0.6
%
 
1.0
%
 
 
25

Memphis, TN-MS-AR
 
42
 
1

 
660,013

 
82.9
%
 
90.0
%
 
8,765

 
15.23

 
0.2
%
 
0.8
%
 
0.9
%
 
 
26

Vallejo-Fairfield, CA
 
121
 
1

 
525,067

 
87.6
%
 
94.6
%
 
8,704

 
17.75

 
0.2
%
 
0.6
%
 
0.9
%
 
 
27

Las Vegas-Henderson-Paradise, NV
 
29
 
3

 
613,061

 
94.3
%
 
95.4
%
 
8,346

 
16.17

 
0.6
%
 
0.7
%
 
0.9
%
 
 
28

Boston-Cambridge-Newton, MA-NH
 
10
 
6

 
710,309

 
86.2
%
 
96.4
%
 
8,263

 
12.40

 
1.2
%
 
0.8
%
 
0.9
%
 
 
29

Jacksonville, FL
 
40
 
5

 
827,508

 
82.3
%
 
83.6
%
 
8,173

 
12.30

 
1.0
%
 
1.0
%
 
0.9
%
 
 
30

Fresno, CA
 
56
 
2

 
436,334

 
98.1
%
 
99.0
%
 
7,691

 
17.81

 
0.4
%
 
0.5
%
 
0.8
%
 
 
31

Port St. Lucie, FL
 
113
 
5

 
632,008

 
77.8
%
 
80.4
%
 
7,249

 
14.27

 
1.0
%
 
0.7
%
 
0.8
%
 
 
32

New Haven-Milford, CT
 
65
 
6

 
571,463

 
91.3
%
 
91.7
%
 
7,208

 
13.76

 
1.2
%
 
0.7
%
 
0.8
%
 
 
33

Louisville/Jefferson County, KY-IN
 
43
 
4

 
707,728

 
96.8
%
 
97.1
%
 
7,172

 
10.72

 
0.8
%
 
0.8
%
 
0.7
%
 
 
34

Riverside-San Bernardino-Ontario, CA
 
13
 
4

 
537,088

 
92.5
%
 
97.5
%
 
7,128

 
15.19

 
0.8
%
 
0.6
%
 
0.7
%
 
 
35

Norwich-New London, CT
 
175
 
2

 
433,532

 
98.4
%
 
98.4
%
 
7,049

 
16.53

 
0.4
%
 
0.5
%
 
0.7
%
 
 
36

Milwaukee-Waukesha-West Allis, WI
 
39
 
4

 
710,327

 
89.4
%
 
90.7
%
 
6,682

 
10.37

 
0.8
%
 
0.8
%
 
0.7
%
 
 
37

Indianapolis-Carmel-Anderson, IN
 
34
 
4

 
881,418

 
80.8
%
 
82.3
%
 
6,450

 
8.93

 
0.8
%
 
1.0
%
 
0.7
%
 
 
38

Worcester, MA-CT
 
58
 
4

 
589,104

 
83.1
%
 
84.3
%
 
5,811

 
13.52

 
0.8
%
 
0.7
%
 
0.6
%
 
 
39

Springfield, MA
 
88
 
3

 
450,701

 
97.4
%
 
97.4
%
 
5,419

 
14.56

 
0.6
%
 
0.5
%
 
0.6
%
 
 
40

Wilmington, NC
 
171
 
2

 
379,107

 
90.2
%
 
98.1
%
 
5,409

 
14.69

 
0.4
%
 
0.4
%
 
0.6
%
 

Supplemental Disclosure - Three Months Ended December 31, 2016
Page 35
jpgstandardlogoa17.jpg




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
 
Billed
 
Leased
 
 ABR
 
 ABR / SF
 
Properties
 
of GLA
 
of ABR
 
 
41

College Station-Bryan, TX
 
187
 
4

 
491,463

 
95.0
%
 
95.8
%
 
5,324

 
13.57

 
0.8
%
 
0.6
%
 
0.6
%
 
 
42

Scranton--Wilkes-Barre--Hazleton, PA
 
97
 
2

 
620,309

 
97.7
%
 
97.7
%
 
5,280

 
19.58

 
0.4
%
 
0.7
%
 
0.6
%
 
 
43

North Port-Sarasota-Bradenton, FL
 
73
 
4

 
556,862

 
92.2
%
 
95.1
%
 
5,266

 
10.02

 
0.8
%
 
0.6
%
 
0.5
%
 
 
44

Dayton, OH
 
72
 
3

 
534,385

 
96.8
%
 
97.5
%
 
5,248

 
12.35

 
0.6
%
 
0.6
%
 
0.5
%
 
 
45

Ann Arbor, MI
 
147
 
3

 
657,713

 
85.7
%
 
92.5
%
 
5,115

 
11.22

 
0.6
%
 
0.8
%
 
0.5
%
 
 
46

Corpus Christi, TX
 
114
 
4

 
564,845

 
90.5
%
 
91.3
%
 
5,114

 
11.92

 
0.8
%
 
0.7
%
 
0.5
%
 
 
47

St. Louis, MO-IL
 
20
 
4

 
658,665

 
75.1
%
 
86.6
%
 
5,012

 
8.83

 
0.8
%
 
0.8
%
 
0.5
%
 
 
48

Winston-Salem, NC
 
83
 
3

 
438,898

 
91.7
%
 
92.2
%
 
5,008

 
12.78

 
0.6
%
 
0.5
%
 
0.5
%
 
 
49

Washington-Arlington-Alexandria, DC-VA-MD-WV
6
 
3

 
451,260

 
97.8
%
 
99.3
%
 
4,949

 
11.05

 
0.6
%
 
0.5
%
 
0.5
%
 
 
50

Greensboro-High Point, NC
 
74
 
1

 
406,768

 
98.1
%
 
98.1
%
 
4,931

 
14.50

 
0.2
%
 
0.5
%
 
0.5
%
 
 
 
50 Largest MSAs by ABR
 
—
 
349

 
60,445,055

 
91.1
%
 
93.4
%
 
738,589

 
14.02

 
69.0
%
 
70.3
%
 
77.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
51

Kansas City, MO-KS
 
30
 
4

 
602,466

 
90.0
%
 
92.0
%
 
4,359

 
8.00

 
0.7
%
 
0.7
%
 
0.5
%
 
 
52

Roanoke, VA
 
159
 
4

 
522,010

 
91.9
%
 
92.5
%
 
3,981

 
9.39

 
0.8
%
 
0.6
%
 
0.4
%
 
 
53

Columbus, OH
 
32
 
4

 
449,488

 
87.3
%
 
88.9
%
 
3,941

 
10.37

 
0.7
%
 
0.5
%
 
0.4
%
 
 
54

Pittsfield, MA
 
320
 
1

 
442,354

 
96.9
%
 
97.7
%
 
3,911

 
20.75

 
0.1
%
 
0.5
%
 
0.4
%
 
 
55

Boulder, CO
 
156
 
1

 
279,189

 
81.8
%
 
82.4
%
 
3,867

 
16.82

 
0.2
%
 
0.3
%
 
0.4
%
 
 
56

Manchester-Nashua, NH
 
132
 
2

 
348,189

 
81.0
%
 
81.0
%
 
3,706

 
24.35

 
0.4
%
 
0.4
%
 
0.4
%
 
 
57

Mobile, AL
 
127
 
1

 
606,731

 
88.5
%
 
88.5
%
 
3,685

 
10.21

 
0.2
%
 
0.7
%
 
0.4
%
 
 
58

Charleston-North Charleston, SC
 
75
 
3

 
556,809

 
73.9
%
 
77.1
%
 
3,592

 
8.57

 
0.5
%
 
0.6
%
 
0.4
%
 
 
59

Panama City, FL
 
221
 
2

 
397,512

 
90.8
%
 
98.8
%
 
3,574

 
9.10

 
0.4
%
 
0.5
%
 
0.4
%
 
 
60

Jackson, MS
 
94
 
2

 
333,275

 
96.3
%
 
96.3
%
 
3,538

 
11.22

 
0.4
%
 
0.4
%
 
0.4
%
 
 
61

Toledo, OH
 
91
 
2

 
606,407

 
75.1
%
 
83.7
%
 
3,514

 
8.76

 
0.4
%
 
0.7
%
 
0.4
%
 
 
62

Spartanburg, SC
 
153
 
1

 
360,277

 
84.6
%
 
88.4
%
 
3,503

 
11.57

 
0.2
%
 
0.4
%
 
0.4
%
 
 
63

Greenville-Anderson-Mauldin, SC
 
63
 
2

 
220,723

 
99.4
%
 
99.4
%
 
3,477

 
15.84

 
0.4
%
 
0.3
%
 
0.4
%
 
 
64

Raleigh, NC
 
44
 
2

 
291,027

 
71.4
%
 
88.9
%
 
3,390

 
13.21

 
0.4
%
 
0.3
%
 
0.4
%
 
 
65

Virginia Beach-Norfolk-Newport News, VA-NC
 
37
 
2

 
205,257

 
97.7
%
 
97.7
%
 
3,357

 
16.87

 
0.4
%
 
0.2
%
 
0.3
%
 
 
66

Saginaw, MI
 
226
 
2

 
432,508

 
86.3
%
 
94.2
%
 
3,308

 
11.55

 
0.4
%
 
0.5
%
 
0.3
%
 
 
67

Atlantic City-Hammonton, NJ
 
173
 
1

 
179,199

 
97.2
%
 
99.1
%
 
3,307

 
18.62

 
0.2
%
 
0.2
%
 
0.3
%
 
 
68

Bakersfield, CA
 
61
 
1

 
240,328

 
95.7
%
 
95.7
%
 
3,191

 
14.13

 
0.2
%
 
0.3
%
 
0.3
%
 
 
69

Hilton Head Island-Bluffton-Beaufort, SC
 
212
 
2

 
230,352

 
94.0
%
 
95.0
%
 
3,051

 
13.94

 
0.4
%
 
0.3
%
 
0.3
%
 
 
70

Greenville, NC
 
237
 
1

 
233,153

 
96.2
%
 
96.2
%
 
2,990

 
13.33

 
0.2
%
 
0.3
%
 
0.3
%
 
 
71

Des Moines-West Des Moines, IA
 
90
 
2

 
513,385

 
90.0
%
 
94.9
%
 
2,977

 
6.17

 
0.4
%
 
0.6
%
 
0.3
%
 
 
72

Traverse City, MI
 
284
 
1

 
411,758

 
99.1
%
 
100.0
%
 
2,922

 
27.08

 
0.2
%
 
0.5
%
 
0.3
%
 
 
73

Elkhart-Goshen, IN
 
218
 
2

 
445,534

 
96.4
%
 
96.4
%
 
2,900

 
10.98

 
0.3
%
 
0.5
%
 
0.3
%
 
 
74

Lexington-Fayette, KY
 
107
 
2

 
414,960

 
97.4
%
 
98.1
%
 
2,862

 
7.03

 
0.4
%
 
0.5
%
 
0.3
%
 
 
75

Lafayette, LA
 
108
 
3

 
433,211

 
95.3
%
 
96.3
%
 
2,853

 
6.84

 
0.6
%
 
0.5
%
 
0.3
%
 
 
76

Odessa, TX
 
261
 
1

 
365,559

 
100.0
%
 
100.0
%
 
2,827

 
12.37

 
0.2
%
 
0.4
%
 
0.3
%
 
 
77

Savannah, GA
 
138
 
2

 
224,201

 
77.6
%
 
93.1
%
 
2,768

 
13.44

 
0.4
%
 
0.3
%
 
0.3
%
 
 
78

Tullahoma-Manchester, TN
 
377
 
3

 
433,744

 
94.8
%
 
94.8
%
 
2,731

 
6.64

 
0.5
%
 
0.5
%
 
0.3
%
 
 
79

Blacksburg-Christiansburg-Radford, VA
 
231
 
1

 
180,220

 
100.0
%
 
100.0
%
 
2,657

 
14.99

 
0.1
%
 
0.2
%
 
0.3
%
 
 
80

Baltimore-Columbia-Towson, MD
 
21
 
1

 
218,862

 
100.0
%
 
100.0
%
 
2,641

 
12.07

 
0.2
%
 
0.3
%
 
0.3
%
 
 
81

Lancaster, PA
 
103
 
3

 
236,006

 
98.3
%
 
98.3
%
 
2,527

 
10.89

 
0.6
%
 
0.3
%
 
0.3
%
 

Supplemental Disclosure - Three Months Ended December 31, 2016
Page 36
jpgstandardlogoa17.jpg




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
 
Billed
 
Leased
 
 ABR
 
 ABR / SF
 
Properties
 
of GLA
 
of ABR
 
 
82

Richmond, VA
 
45
 
2

 
215,897

 
70.4
%
 
71.9
%
 
2,492

 
16.06

 
0.3
%
 
0.3
%
 
0.3
%
 
 
83

Merced, CA
 
178
 
1

 
147,557

 
98.8
%
 
100.0
%
 
2,418

 
16.39

 
0.2
%
 
0.2
%
 
0.3
%
 
 
84

Bridgeport-Stamford-Norwalk, CT
 
57
 
1

 
161,075

 
86.3
%
 
86.6
%
 
2,411

 
17.28

 
0.1
%
 
0.2
%
 
0.3
%
 
 
85

Chattanooga, TN-GA
 
101
 
2

 
339,426

 
94.9
%
 
95.2
%
 
2,402

 
8.07

 
0.4
%
 
0.4
%
 
0.3
%
 
 
86

Fort Wayne, IN
 
125
 
2

 
253,951

 
78.7
%
 
81.8
%
 
2,389

 
13.41

 
0.3
%
 
0.3
%
 
0.2
%
 
 
87

Dover, DE
 
240
 
1

 
191,974

 
100.0
%
 
100.0
%
 
2,348

 
12.23

 
0.2
%
 
0.2
%
 
0.2
%
 
 
88

Corning, NY
 
389
 
1

 
253,335

 
100.0
%
 
100.0
%
 
2,101

 
8.29

 
0.2
%
 
0.3
%
 
0.2
%
 
 
89

Duluth, MN-WI
 
168
 
1

 
182,969

 
98.6
%
 
98.6
%
 
2,083

 
11.55

 
0.2
%
 
0.2
%
 
0.2
%
 
 
90

Concord, NH
 
287
 
1

 
182,887

 
100.0
%
 
100.0
%
 
2,000

 
11.19

 
0.2
%
 
0.2
%
 
0.2
%
 
 
91

Hickory-Lenoir-Morganton, NC
 
145
 
2

 
295,970

 
78.3
%
 
81.3
%
 
1,988

 
8.26

 
0.4
%
 
0.3
%
 
0.2
%
 
 
92

Rutland, VT
 
528
 
1

 
224,514

 
98.6
%
 
98.6
%
 
1,970

 
8.90

 
0.2
%
 
0.3
%
 
0.2
%
 
 
93

Portland-South Portland, ME
 
104
 
1

 
287,513

 
99.3
%
 
99.3
%
 
1,964

 
16.76

 
0.2
%
 
0.3
%
 
0.2
%
 
 
94

Altoona, PA
 
326
 
1

 
278,586

 
79.7
%
 
79.7
%
 
1,957

 
8.81

 
0.2
%
 
0.3
%
 
0.2
%
 
 
95

Santa Maria-Santa Barbara, CA
 
117
 
1

 
179,549

 
100.0
%
 
100.0
%
 
1,952

 
11.72

 
0.2
%
 
0.2
%
 
0.2
%
 
 
96

Pittsburgh, PA
 
26
 
1

 
199,079

 
100.0
%
 
100.0
%
 
1,914

 
10.66

 
0.1
%
 
0.2
%
 
0.2
%
 
 
97

Springfield, IL
 
211
 
2

 
178,494

 
88.5
%
 
93.0
%
 
1,907

 
11.49

 
0.4
%
 
0.2
%
 
0.2
%
 
 
98

Sacramento--Roseville--Arden-Arcade, CA
 
27
 
1

 
103,695

 
95.3
%
 
95.3
%
 
1,833

 
18.56

 
0.2
%
 
0.1
%
 
0.2
%
 
 
99

York-Hanover, PA
 
120
 
1

 
153,088

 
93.3
%
 
93.3
%
 
1,822

 
13.02

 
0.2
%
 
0.2
%
 
0.2
%
 
 
100

Austin-Round Rock, TX
 
33
 
1

 
169,552

 
83.0
%
 
100.0
%
 
1,819

 
10.73

 
0.1
%
 
0.2
%
 
0.2
%
 
 
 
100 Largest MSAs by ABR
 
—
 
434

 
75,858,860

 
90.9
%
 
93.2
%
 
880,266

 
13.50

 
84.8
%
 
88.2
%
 
92.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other MSAs
 
—
 
78

 
10,147,934

 
88.5
%
 
89.8
%
 
79,717

 
9.18

 
15.2
%
 
11.8
%
 
7.9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL
 
—
 
512

 
86,006,794

 
90.7
%
 
92.8
%
 
$
959,983

 
$
12.99

 
100.0
%
 
100.0
%
 
100.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




Supplemental Disclosure - Three Months Ended December 31, 2016
Page 37
jpgstandardlogoa17.jpg




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

Texas
 
65

 
9,484,409

 
90.1
%
 
92.6
%
 
$
107,540

 
$
13.02

 
12.7
%
 
11.0
%
 
11.2
%
 
 
2

Florida
 
56

 
8,787,102

 
89.5
%
 
91.5
%
 
104,873

 
13.53

 
10.9
%
 
10.2
%
 
10.9
%
 
 
3

California
 
30

 
5,963,224

 
95.6
%
 
98.0
%
 
97,122

 
17.95

 
5.9
%
 
6.9
%
 
10.1
%
 
 
4

Pennsylvania
 
35

 
5,928,279

 
92.8
%
 
94.5
%
 
67,166

 
14.31

 
6.8
%
 
6.9
%
 
7.0
%
 
 
5

New York
 
33

 
4,340,537

 
89.3
%
 
91.3
%
 
65,401

 
16.91

 
6.4
%
 
5.0
%
 
6.8
%
 
 
6

Illinois
 
24

 
4,856,592

 
88.5
%
 
91.3
%
 
52,362

 
12.25

 
4.7
%
 
5.7
%
 
5.5
%
 
 
7

Georgia
 
37

 
5,262,166

 
88.2
%
 
91.0
%
 
47,438

 
10.11

 
7.2
%
 
6.1
%
 
4.9
%
 
 
8

New Jersey
 
18

 
3,088,237

 
90.5
%
 
92.0
%
 
41,951

 
15.70

 
3.5
%
 
3.6
%
 
4.4
%
 
 
9

Ohio
 
23

 
4,305,805

 
91.0
%
 
93.7
%
 
41,912

 
11.76

 
4.5
%
 
5.0
%
 
4.4
%
 
 
10

North Carolina
 
21

 
4,326,381

 
89.3
%
 
91.5
%
 
41,419

 
11.19

 
4.1
%
 
5.0
%
 
4.4
%
 
 
11

Michigan
 
19

 
3,660,577

 
89.8
%
 
93.5
%
 
33,912

 
12.43

 
3.7
%
 
4.3
%
 
3.5
%
 
 
12

Connecticut
 
15

 
2,260,206

 
93.1
%
 
93.6
%
 
30,164

 
15.24

 
2.9
%
 
2.7
%
 
3.1
%
 
 
13

Tennessee
 
15

 
3,063,908

 
91.1
%
 
93.9
%
 
29,853

 
10.91

 
2.9
%
 
3.6
%
 
3.1
%
 
 
14

Kentucky
 
12

 
2,600,414

 
98.2
%
 
98.4
%
 
22,809

 
9.49

 
2.3
%
 
3.1
%
 
2.4
%
 
 
15

Massachusetts
 
11

 
1,873,814

 
92.8
%
 
93.6
%
 
20,983

 
15.24

 
2.1
%
 
2.2
%
 
2.2
%
 
 
16

Colorado
 
6

 
1,471,970

 
89.9
%
 
94.0
%
 
18,667

 
13.55

 
1.2
%
 
1.7
%
 
1.9
%
 
 
17

Minnesota
 
10

 
1,471,078

 
89.2
%
 
90.5
%
 
15,875

 
12.69

 
2.0
%
 
1.7
%
 
1.7
%
 
 
18

Indiana
 
12

 
1,977,752

 
84.8
%
 
88.2
%
 
15,796

 
10.21

 
2.3
%
 
2.3
%
 
1.7
%
 
 
19

Virginia
 
11

 
1,446,508

 
87.5
%
 
88.4
%
 
14,624

 
12.03

 
2.1
%
 
1.7
%
 
1.5
%
 
 
20

South Carolina
 
8

 
1,368,161

 
84.2
%
 
86.7
%
 
13,623

 
11.74

 
1.6
%
 
1.6
%
 
1.4
%
 
 
21

Maryland
 
5

 
776,427

 
99.7
%
 
99.7
%
 
10,047

 
13.03

 
1.0
%
 
0.9
%
 
1.0
%
 
 
22

Nevada
 
3

 
613,061

 
94.3
%
 
95.4
%
 
8,346

 
16.17

 
0.6
%
 
0.7
%
 
0.9
%
 
 
23

New Hampshire
 
5

 
772,770

 
80.1
%
 
88.9
%
 
7,518

 
14.05

 
1.0
%
 
0.9
%
 
0.8
%
 
 
24

Wisconsin
 
5

 
760,882

 
89.1
%
 
90.3
%
 
7,193

 
10.47

 
1.0
%
 
0.9
%
 
0.8
%
 
 
25

Alabama
 
4

 
984,573

 
92.0
%
 
92.3
%
 
7,120

 
9.73

 
0.8
%
 
1.1
%
 
0.7
%
 
 
26

Missouri
 
6

 
862,861

 
87.3
%
 
88.4
%
 
6,194

 
8.26

 
1.2
%
 
1.0
%
 
0.6
%
 
 
27

Iowa
 
4

 
723,408

 
90.0
%
 
93.8
%
 
4,356

 
6.52

 
0.8
%
 
0.8
%
 
0.5
%
 
 
28

Louisiana
 
4

 
612,250

 
96.0
%
 
96.8
%
 
3,946

 
6.66

 
0.8
%
 
0.7
%
 
0.4
%
 
 
29

Mississippi
 
2

 
333,275

 
96.3
%
 
96.3
%
 
3,538

 
11.22

 
0.4
%
 
0.4
%
 
0.4
%
 
 
30

Kansas
 
2

 
367,779

 
90.4
%
 
92.7
%
 
2,996

 
11.35

 
0.4
%
 
0.4
%
 
0.3
%
 
 
31

Arizona
 
2

 
288,110

 
76.9
%
 
78.8
%
 
2,792

 
12.30

 
0.4
%
 
0.3
%
 
0.3
%
 
 
32

Delaware
 
1

 
191,974

 
100.0
%
 
100.0
%
 
2,348

 
12.23

 
0.2
%
 
0.2
%
 
0.2
%
 
 
33

West Virginia
 
2

 
251,500

 
98.8
%
 
98.8
%
 
2,051

 
8.25

 
0.4
%
 
0.3
%
 
0.2
%
 
 
34

Vermont
 
1

 
224,514

 
98.6
%
 
98.6
%
 
1,970

 
8.90

 
0.2
%
 
0.3
%
 
0.2
%
 
 
35

Maine
 
1

 
287,513

 
99.3
%
 
99.3
%
 
1,964

 
16.76

 
0.2
%
 
0.3
%
 
0.2
%
 
 
36

Oklahoma
 
1

 
186,851

 
100.0
%
 
100.0
%
 
1,792

 
9.59

 
0.2
%
 
0.2
%
 
0.2
%
 
 
37

Rhode Island
 
1

 
148,126

 
83.8
%
 
83.8
%
 
1,356

 
10.92

 
0.2
%
 
0.2
%
 
0.1
%
 
 
38

New Mexico
 
2

 
83,800

 
100.0
%
 
100.0
%
 
966

 
11.53

 
0.4
%
 
0.1
%
 
0.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL
 
512

 
86,006,794

 
90.7
%
 
92.8
%
 
$
959,983

 
$
12.99

 
100.0
%
 
100.0
%
 
100.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended December 31, 2016
Page 38
jpgstandardlogoa17.jpg




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

 
96.2
%
 
$
949

 
$
13.02

 
Publix
 
—
 
 
2

 
Springdale
 
Mobile
 
AL
 
Mobile, AL
 
2004
 
606,731

 
88.5
%
 
3,685

 
10.21

 
Sam's Club*
 
Big Lots, Burlington Stores, Marshalls, Michaels, Staples
 
 
3

 
Payton Park
 
Sylacauga
 
AL
 
Talladega-Sylacauga, AL
 
1995
 
231,820

 
100.0
%
 
1,612

 
6.95

 
Walmart Supercenter
 
Burke's Outlet
 
 
4

 
Shops of Tuscaloosa
 
Tuscaloosa
 
AL
 
Tuscaloosa, AL
 
2005
 
70,242

 
94.4
%
 
874

 
13.17

 
Publix
 
—
 
 
5

 
Glendale Galleria
 
Glendale
 
AZ
 
Phoenix-Mesa-Scottsdale, AZ
 
1991
 
119,525

 
70.3
%
 
1,098

 
13.07

 
—
 
LA Fitness, Sears Outlet
 
 
6

 
Northmall Centre
 
Tucson
 
AZ
 
Tucson, AZ
 
1996
 
168,585

 
84.8
%
 
1,694

 
11.85

 
Sam's Club*
 
CareMore, JC Penney Home Store, Stein Mart
 
 
7

 
Applegate Ranch Shopping Center
 
Atwater
 
CA
 
Merced, CA
 
2006
 
147,557

 
100.0
%
 
2,418

 
16.39

 
SuperTarget*, Walmart Supercenter*
 
Marshalls, Petco
 
 
8

 
Bakersfield Plaza
 
Bakersfield
 
CA
 
Bakersfield, CA
 
1970
 
240,328

 
95.7
%
 
3,191

 
14.13

 
Lassens Natural Foods & Vitamins
 
Burlington Stores, Ross Dress for Less
 
 
9

 
Carmen Plaza
 
Camarillo
 
CA
 
Oxnard-Thousand Oaks-Ventura, CA
 
2000
 
129,173

 
94.4
%
 
2,067

 
17.92

 
Trader Joe's*
 
24 Hour Fitness, CVS, Michaels
 
 
10

 
Plaza Rio Vista
 
Cathedral
 
CA
 
Riverside-San Bernardino-Ontario, CA
 
2005
 
67,621

 
93.7
%
 
1,127

 
17.79

 
Stater Bros.
 
—
 
 
11

 
Clovis Commons
 
Clovis
 
CA
 
Fresno, CA
 
2004
 
174,990

 
100.0
%
 
3,991

 
22.81

 
—
 
Best Buy, Office Depot, PetSmart, T.J.Maxx
 
Target
12

 
Cudahy Plaza
 
Cudahy
 
CA
 
Los Angeles-Long Beach-Anaheim, CA
 
1994
 
147,804

 
98.0
%
 
1,291

 
8.92

 
—
 
Big Lots, Kmart
 
 
13

 
University Mall
 
Davis
 
CA
 
Sacramento--Roseville--Arden-Arcade, CA
 
1964
 
103,695

 
95.3
%
 
1,833

 
18.56

 
Trader Joe's
 
Forever 21, World Market
 
 
14

 
Felicita Plaza
 
Escondido
 
CA
 
San Diego-Carlsbad, CA
 
2001
 
98,594

 
100.0
%
 
1,410

 
14.30

 
Vons (Albertsons)
 
Chuze Fitness
 
 
15

 
Felicita Town Center
 
Escondido
 
CA
 
San Diego-Carlsbad, CA
 
1987
 
126,502

 
95.0
%
 
2,648

 
22.04

 
Major Market, Trader Joe's
 
Rite Aid
 
 
16

 
Arbor - Broadway Faire
 
Fresno
 
CA
 
Fresno, CA
 
1995
 
261,344

 
98.3
%
 
3,700

 
14.41

 
Smart & Final Extra!
 
PetSmart, The Home Depot, United Artists Theatres
 
 
17

 
Lompoc Center
 
Lompoc
 
CA
 
Santa Maria-Santa Barbara, CA
 
1960
 
179,549

 
100.0
%
 
1,952

 
11.72

 
Vons (Albertsons)
 
Harbor Freight Tools, Marshalls, Michaels, Staples
 
 
18

 
Briggsmore Plaza
 
Modesto
 
CA
 
Modesto, CA
 
1998
 
92,315

 
100.0
%
 
1,182

 
13.55

 
Grocery Outlet
 
Fallas Paredes, Sears Outlet
 
 
19

 
Montebello Plaza
 
Montebello
 
CA
 
Los Angeles-Long Beach-Anaheim, CA
 
1974
 
283,631

 
98.0
%
 
4,849

 
17.79

 
Albertsons
 
99¢ Only, Best Buy, CVS, Ross Dress for Less
 
 
20

 
California Oaks Center
 
Murrieta
 
CA
 
Riverside-San Bernardino-Ontario, CA
 
1990
 
124,481

 
98.6
%
 
1,991

 
16.75

 
Barons Market
 
Crunch Fitness, Dollar Tree
 
 
21

 
Esplanade Shopping Center
 
Oxnard
 
CA
 
Oxnard-Thousand Oaks-Ventura, CA
 
2002
 
356,864

 
100.0
%
 
6,937

 
19.61

 
Walmart Neighborhood Market
 
Bed Bath & Beyond, Dick's Sporting Goods, LA Fitness, Nordstrom Rack, T.J.Maxx
 
The Home Depot
22

 
Pacoima Center
 
Pacoima
 
CA
 
Los Angeles-Long Beach-Anaheim, CA
 
1995
 
202,773

 
100.0
%
 
2,100

 
10.36

 
Food 4 Less (Kroger)
 
Ross Dress for Less, Target
 
 
23

 
Paradise Plaza
 
Paradise
 
CA
 
Chico, CA
 
1997
 
198,323

 
97.5
%
 
944

 
7.91

 
Save Mart
 
Kmart
 
 
24

 
Metro 580
 
Pleasanton
 
CA
 
San Francisco-Oakland-Hayward, CA
 
1996
 
177,573

 
98.9
%
 
2,639

 
32.96

 
—
 
Kohl's, Orchard Supply Hardware, Party City
 
Walmart
25

 
Rose Pavilion
 
Pleasanton
 
CA
 
San Francisco-Oakland-Hayward, CA
 
2017
 
329,003

 
95.5
%
 
6,984

 
22.28

 
99 Ranch Market, Trader Joe's
 
Golfsmith, Macy's Home Store, Total Wine & More
 
 
26

 
Puente Hills Town Center
 
Rowland Heights
 
CA
 
Los Angeles-Long Beach-Anaheim, CA
 
1984
 
258,685

 
97.9
%
 
5,524

 
21.81

 
—
 
Marshalls, Michaels
 
 
27

 
San Bernardino Center
 
San Bernardino
 
CA
 
Riverside-San Bernardino-Ontario, CA
 
2003
 
143,082

 
100.0
%
 
1,079

 
7.54

 
—
 
Big Lots, Target
 
 
28

 
Ocean View Plaza
 
San Clemente
 
CA
 
Los Angeles-Long Beach-Anaheim, CA
 
1990
 
169,963

 
100.0
%
 
4,704

 
27.68

 
Ralphs (Kroger), Trader Joe's
 
Crunch Fitness, CVS
 
 
29

 
Mira Mesa Mall
 
San Diego
 
CA
 
San Diego-Carlsbad, CA
 
2003
 
408,800

 
98.0
%
 
7,895

 
20.51

 
Vons (Albertsons)
 
Bed Bath & Beyond, Marshalls, Mira Mesa Lanes
 
 
30

 
San Dimas Plaza
 
San Dimas
 
CA
 
Los Angeles-Long Beach-Anaheim, CA
 
1986
 
164,757

 
100.0
%
 
3,633

 
22.05

 
Smart & Final Extra!
 
Harbor Freight Tools, T.J.Maxx
 
Rite Aid
31

 
Bristol Plaza
 
Santa Ana
 
CA
 
Los Angeles-Long Beach-Anaheim, CA
 
2003
 
111,403

 
100.0
%
 
2,890

 
26.47

 
Trader Joe's
 
Big Lots, Petco, Rite Aid
 
 
32

 
Gateway Plaza
 
Santa Fe Springs
 
CA
 
Los Angeles-Long Beach-Anaheim, CA
 
2002
 
289,268

 
100.0
%
 
3,538

 
23.79

 
El Super, Walmart Supercenter
 
LA Fitness, Marshalls
 
Target
33

 
Santa Paula Center
 
Santa Paula
 
CA
 
Oxnard-Thousand Oaks-Ventura, CA
 
1995
 
191,475

 
100.0
%
 
1,982

 
10.58

 
Vons (Albertsons)
 
Big Lots, Heritage Hardware
 
 
34

 
Vail Ranch Center
 
Temecula
 
CA
 
Riverside-San Bernardino-Ontario, CA
 
2003
 
201,904

 
96.3
%
 
2,931

 
20.36

 
Stater Bros.
 
Rite Aid, Stein Mart
 
 
35

 
Country Hills Shopping Center
 
Torrance
 
CA
 
Los Angeles-Long Beach-Anaheim, CA
 
1977
 
56,700

 
97.8
%
 
988

 
17.82

 
Ralphs (Kroger)
 
—
 
 
36

 
Gateway Plaza - Vallejo
 
Vallejo
 
CA
 
Vallejo-Fairfield, CA
 
2017
 
525,067

 
94.6
%
 
8,704

 
17.75

 
Costco*
 
Bed Bath & Beyond, Century Theatres, DSW, Marshalls, Michaels, Office Max, Party City, Petco, Ross Dress for Less, Toys"R"Us, ULTA
 
Target
37

 
Arvada Plaza
 
Arvada
 
CO
 
Denver-Aurora-Lakewood, CO
 
1994
 
95,236

 
100.0
%
 
731

 
7.68

 
King Soopers (Kroger)
 
Arc
 
 
38

 
Arapahoe Crossings
 
Aurora
 
CO
 
Denver-Aurora-Lakewood, CO
 
1996
 
466,356

 
97.2
%
 
6,204

 
13.68

 
King Soopers (Kroger)
 
2nd & Charles, AMC Theatres, Big Lots, buybuy BABY, Gordmans, Kohl's, Stein Mart
 
 
39

 
Aurora Plaza
 
Aurora
 
CO
 
Denver-Aurora-Lakewood, CO
 
1996
 
178,491

 
98.1
%
 
1,520

 
9.00

 
King Soopers (Kroger)
 
Cinema Latino, Gen-X
 
 
40

 
Villa Monaco
 
Denver
 
CO
 
Denver-Aurora-Lakewood, CO
 
1978
 
122,139

 
90.7
%
 
1,595

 
14.40

 
—
 
Chuze Fitness
 
 
41

 
Superior Marketplace
 
Superior
 
CO
 
Boulder, CO
 
1997
 
279,189

 
82.4
%
 
3,867

 
16.82

 
Whole Foods Market, Costco*, SuperTarget*
 
Party City, T.J.Maxx, Ulta
 
 
42

 
Westminster City Center
 
Westminster
 
CO
 
Denver-Aurora-Lakewood, CO
 
1996
 
330,559

 
96.6
%
 
4,750

 
14.87

 
—
 
Babies"R"Us, Barnes & Noble, Gordmans, Jo-Ann Fabric & Craft Stores, Ross Dress for Less, Tile Shop, Ulta
 
 
43

 
Freshwater - Stateline Plaza
 
Enfield
 
CT
 
Hartford-West Hartford-East Hartford, CT
 
2004
 
295,647

 
95.9
%
 
2,419

 
16.48

 
Costco
 
Dick's Sporting Goods, Jo-Ann Fabric & Craft Stores, P.C. Richard & Son
 
The Home Depot
44

 
The Shoppes at Fox Run
 
Glastonbury
 
CT
 
Hartford-West Hartford-East Hartford, CT
 
1974
 
106,364

 
91.4
%
 
2,388

 
24.57

 
Whole Foods Market
 
Petco
 
 
45

 
Groton Square
 
Groton
 
CT
 
Norwich-New London, CT
 
1987
 
196,802

 
99.6
%
 
2,658

 
13.57

 
Super Stop & Shop (Ahold)
 
Kohl's
 
Walmart
46

 
Parkway Plaza
 
Hamden
 
CT
 
New Haven-Milford, CT
 
2006
 
72,353

 
100.0
%
 
1,021

 
14.11

 
PriceRite (Wakefern)
 
—
 
 
47

 
Killingly Plaza
 
Killingly
 
CT
 
Worcester, MA-CT
 
1990
 
76,960

 
98.7
%
 
609

 
8.02

 
—
 
Kohl's
 
 
48

 
The Manchester Collection
 
Manchester
 
CT
 
Hartford-West Hartford-East Hartford, CT
 
2001
 
339,775

 
93.0
%
 
4,444

 
14.07

 
Sam's Club*, Walmart Supercenter*
 
A.C. Moore, Ashley Furniture, Babies"R"Us, Bed Bath & Beyond, Big Bob's Flooring Outlet, DSW, Edge Fitness, Hobby Lobby, Men's Wearhouse, Plaza Aztec
 
Walmart

Supplemental Disclosure - Three Months Ended December 31, 2016
Page 39
jpgstandardlogoa17.jpg




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
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
49

 
Chamberlain Plaza
 
Meriden
 
CT
 
New Haven-Milford, CT
 
2004
 
54,302

 
100.0
%
 
592

 
10.90

 
—
 
Dollar Tree, Savers
 
 
50

 
Milford Center
 
Milford
 
CT
 
New Haven-Milford, CT
 
1966
 
25,056

 
—
%
 
—

 
—

 
—
 
—
 
 
51

 
Turnpike Plaza
 
Newington
 
CT
 
Hartford-West Hartford-East Hartford, CT
 
2004
 
149,894

 
98.2
%
 
2,459

 
16.71

 
Price Chopper
 
Dick's Sporting Goods
 
 
52

 
North Haven Crossing
 
North Haven
 
CT
 
New Haven-Milford, CT
 
1993
 
103,865

 
90.5
%
 
1,673

 
17.80

 
—
 
Barnes & Noble, Dollar Tree, DSW, Five Below, Lumber Liquidators, PetSmart
 
 
53

 
Christmas Tree Plaza
 
Orange
 
CT
 
New Haven-Milford, CT
 
1996
 
132,791

 
95.1
%
 
1,646

 
13.03

 
—
 
A.C. Moore, Christmas Tree Shops
 
 
54

 
Stratford Square
 
Stratford
 
CT
 
Bridgeport-Stamford-Norwalk, CT
 
1984
 
161,075

 
86.6
%
 
2,411

 
17.28

 
—
 
LA Fitness, Marshalls
 
 
55

 
Torrington Plaza
 
Torrington
 
CT
 
Torrington, CT
 
1994
 
125,496

 
84.3
%
 
1,177

 
11.12

 
—
 
Jo-Ann Fabric & Craft Stores, Staples, T.J.Maxx
 
 
56

 
Waterbury Plaza
 
Waterbury
 
CT
 
New Haven-Milford, CT
 
2000
 
183,096

 
96.6
%
 
2,276

 
12.86

 
Super Stop & Shop (Ahold)
 
Dollar Tree, Pretty Woman
 
Target
57

 
Waterford Commons
 
Waterford
 
CT
 
Norwich-New London, CT
 
2004
 
236,730

 
97.4
%
 
4,391

 
19.05

 
—
 
Babies"R"Us, Dick’s Sporting Goods, DSW, Michaels, Party City, Ulta
 
Best Buy
58

 
North Dover Center
 
Dover
 
DE
 
Dover, DE
 
1989
 
191,974

 
100.0
%
 
2,348

 
12.23

 
Acme (Albertsons)
 
Party City, Staples, T.J.Maxx, Toys"R"Us
 
 
59

 
Brooksville Square
 
Brooksville
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
1987
 
156,361

 
94.1
%
 
1,617

 
11.00

 
Publix
 
Sears Outlet
 
 
60

 
Coastal Way - Coastal Landing
 
Brooksville
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
2008
 
374,598

 
98.3
%
 
3,667

 
16.72

 
—
 
Bed Bath & Beyond, hhgregg, Marshalls, Michaels, Office Depot, Petco, Sears, Ulta
 
 
61

 
Midpoint Center
 
Cape Coral
 
FL
 
Cape Coral-Fort Myers, FL
 
2002
 
75,386

 
98.6
%
 
979

 
13.17

 
Publix
 
—
 
Target
62

 
Clearwater Mall
 
Clearwater
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
1973
 
300,929

 
98.7
%
 
6,438

 
22.83

 
Costco*, SuperTarget*
 
hhgregg, Michaels, PetSmart, Ross Dress for Less
 
Lowe's
63

 
Coconut Creek Plaza
 
Coconut Creek
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
2005
 
265,671

 
86.8
%
 
3,156

 
13.69

 
Publix
 
Bealls Outlet, Big Lots, Off the Wall Trampoline, Planet Fitness, Rainbow
 
 
64

 
Century Plaza Shopping Center
 
Deerfield Beach
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
2006
 
83,104

 
88.9
%
 
1,475

 
19.97

 
—
 
Broward County Library
 
 
65

 
Northgate Shopping Center
 
DeLand
 
FL
 
Deltona-Daytona Beach-Ormond Beach, FL
 
1993
 
186,396

 
98.7
%
 
1,337

 
7.27

 
Publix
 
—
 
 
66

 
Eustis Village
 
Eustis
 
FL
 
Orlando-Kissimmee-Sanford, FL
 
2002
 
156,927

 
96.9
%
 
1,742

 
11.46

 
Publix
 
Bealls Outlet
 
 
67

 
First Street Village
 
Fort Meyers
 
FL
 
Cape Coral-Fort Myers, FL
 
2006
 
54,926

 
98.3
%
 
808

 
14.96

 
Publix
 
—
 
 
68

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

 
99.1
%
 
1,749

 
11.16

 
Publix
 
Bealls Outlet, Books-A-Million, Office Depot, T.J.Maxx
 
 
69

 
Normandy Square
 
Jacksonville
 
FL
 
Jacksonville, FL
 
1996
 
87,240

 
88.4
%
 
738

 
9.57

 
Winn-Dixie (Southeastern Grocers)
 
Family Dollar
 
 
70

 
Regency Park Shopping Center
 
Jacksonville
 
FL
 
Jacksonville, FL
 
1985
 
334,065

 
70.7
%
 
1,728

 
8.06

 
—
 
American Signature Furniture, Bealls Outlet, Books-A-Million, Hard Knocks, Ollie's Bargain Outlet
 
 
71

 
The Shoppes at Southside
 
Jacksonville
 
FL
 
Jacksonville, FL
 
2004
 
109,113

 
100.0
%
 
1,887

 
17.29

 
—
 
Best Buy, David's Bridal, Restoration Hardware
 
 
72

 
Ventura Downs
 
Kissimmee
 
FL
 
Orlando-Kissimmee-Sanford, FL
 
1989
 
98,191

 
98.6
%
 
1,280

 
13.22

 
—
 
—
 
 
73

 
Marketplace at Wycliffe
 
Lake Worth
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
2002
 
133,520

 
97.6
%
 
2,234

 
17.15

 
Walmart Neighborhood Market
 
Walgreens
 
 
74

 
Venetian Isle Shopping Ctr
 
Lighthouse Point
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
1992
 
182,314

 
95.6
%
 
1,893

 
11.18

 
Publix
 
Dollar Tree, Petco, Staples, Tuesday Morning, T.J.Maxx
 
 
75

 
Marco Town Center
 
Marco Island
 
FL
 
Naples-Immokalee-Marco Island, FL
 
2001
 
109,931

 
83.1
%
 
1,898

 
20.78

 
Publix
 
—
 
 
76

 
Mall at 163rd Street
 
Miami
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
2007
 
339,478

 
73.1
%
 
3,685

 
18.57

 
Walmart Supercenter*
 
Citi Trends, Marshalls, Ross Dress for Less
 
 
77

 
Miami Gardens
 
Miami
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
1996
 
244,719

 
98.8
%
 
2,547

 
10.54

 
Fresco y Más (Southeastern Grocers)
 
Ross Dress for Less
 
 
78

 
Freedom Square
 
Naples
 
FL
 
Naples-Immokalee-Marco Island, FL
 
1995
 
211,839

 
100.0
%
 
1,947

 
9.19

 
Publix
 
—
 
 
79

 
Naples Plaza
 
Naples
 
FL
 
Naples-Immokalee-Marco Island, FL
 
2013
 
201,795

 
100.0
%
 
3,561

 
17.95

 
Publix
 
Marshalls, Office Depot, PGA TOUR Superstore
 
 
80

 
Park Shore Plaza
 
Naples
 
FL
 
Naples-Immokalee-Marco Island, FL
 
2017
 
249,390

 
90.6
%
 
3,618

 
16.41

 
The Fresh Market
 
Big Lots, Burlington Stores, HomeGoods, Party City, Saks OFF Fifth
 
 
81

 
Chelsea Place
 
New Port Richey
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
1992
 
81,144

 
96.8
%
 
966

 
12.30

 
Publix
 
Zone Fitness Club
 
 
82

 
Southgate Center
 
New Port Richey
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
1966
 
246,980

 
97.5
%
 
2,477

 
10.74

 
Publix
 
Bealls Outlet, Big Lots, Lumber Liquidators, Old Time Pottery, Pet Supermarket, YouFit Health Club
 
 
83

 
Presidential Plaza West
 
North Lauderdale
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
2006
 
88,441

 
95.4
%
 
905

 
10.73

 
Sedano's
 
Family Dollar
 
 
84

 
Fashion Square
 
Orange Park
 
FL
 
Jacksonville, FL
 
1996
 
36,029

 
64.3
%
 
448

 
25.03

 
—
 
Miller's Orange Park Ale House
 
 
85

 
Colonial Marketplace
 
Orlando
 
FL
 
Orlando-Kissimmee-Sanford, FL
 
1986
 
141,069

 
99.4
%
 
2,387

 
17.03

 
—
 
Burlington Stores, LA Fitness
 
Target
86

 
Conway Crossing
 
Orlando
 
FL
 
Orlando-Kissimmee-Sanford, FL
 
2002
 
76,321

 
98.7
%
 
983

 
13.05

 
Publix
 
—
 
 
87

 
Hunter's Creek Plaza
 
Orlando
 
FL
 
Orlando-Kissimmee-Sanford, FL
 
1998
 
73,204

 
93.4
%
 
1,065

 
15.57

 
—
 
Office Depot
 
 
88

 
Pointe Orlando
 
Orlando
 
FL
 
Orlando-Kissimmee-Sanford, FL
 
1997
 
417,444

 
91.8
%
 
8,652

 
23.71

 
—
 
Main Event, Regal Cinemas
 
 
89

 
Martin Downs Town Center
 
Palm City
 
FL
 
Port St. Lucie, FL
 
1996
 
64,546

 
95.7
%
 
732

 
11.86

 
Publix
 
—
 
 
90

 
Martin Downs Village Center
 
Palm City
 
FL
 
Port St. Lucie, FL
 
1987
 
158,142

 
86.6
%
 
2,501

 
18.27

 
—
 
Coastal Care, Goodwill, Walgreens
 
 
91

 
23rd Street Station
 
Panama City
 
FL
 
Panama City, FL
 
1995
 
98,827

 
95.2
%
 
1,177

 
12.51

 
Publix
 
—
 
 
92

 
Panama City Square
 
Panama City
 
FL
 
Panama City, FL
 
1989
 
298,685

 
100.0
%
 
2,397

 
8.03

 
Walmart Supercenter
 
Big Lots, Harbor Freight Tools, HomeGoods, T.J.Maxx
 
 
93

 
Pensacola Square
 
Pensacola
 
FL
 
Pensacola-Ferry Pass-Brent, FL
 
1995
 
142,767

 
89.5
%
 
1,166

 
9.13

 
—
 
Bealls Outlet, Big Lots, Petland, Sears Home Appliance Showroom
 
Hobby Lobby
94

 
East Port Plaza
 
Port St. Lucie
 
FL
 
Port St. Lucie, FL
 
1991
 
162,831

 
82.0
%
 
1,852

 
13.87

 
Publix
 
Fortis Institute, Walgreens
 
 
95

 
Shoppes of Victoria Square
 
Port St. Lucie
 
FL
 
Port St. Lucie, FL
 
1990
 
95,243

 
90.4
%
 
1,055

 
12.25

 
Winn-Dixie (Southeastern Grocers)
 
Dollar Tree
 
 
96

 
Lake St. Charles
 
Riverview
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
1999
 
57,015

 
95.4
%
 
558

 
10.26

 
Winn-Dixie (Southeastern Grocers)
 
—
 
 

Supplemental Disclosure - Three Months Ended December 31, 2016
Page 40
jpgstandardlogoa17.jpg




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
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
97

 
Cobblestone Village
 
Royal Palm Beach
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
2005
 
39,404

 
90.7
%
 
659

 
18.45

 
SuperTarget*
 
The Zoo Health Club
 
 
98

 
Beneva Village Shoppes
 
Sarasota
 
FL
 
North Port-Sarasota-Bradenton, FL
 
1987
 
141,532

 
93.4
%
 
1,700

 
12.87

 
Publix
 
Harbor Freight Tools, Pet Supermarket, Walgreens
 
 
99

 
Sarasota Village
 
Sarasota
 
FL
 
North Port-Sarasota-Bradenton, FL
 
1972
 
173,184

 
100.0
%
 
2,039

 
12.07

 
Publix
 
Big Lots, Crunch Fitness, HomeGoods
 
 
100

 
Atlantic Plaza
 
Satellite Beach
 
FL
 
Palm Bay-Melbourne-Titusville, FL
 
2008
 
130,845

 
69.6
%
 
1,180

 
12.95

 
Publix
 
—
 
 
101

 
Seminole Plaza
 
Seminole
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
1964
 
156,579

 
95.4
%
 
1,194

 
7.99

 
—
 
Bealls Outlet, Burlington Stores, T.J.Maxx
 
 
102

 
Cobblestone Village
 
St. Augustine
 
FL
 
Jacksonville, FL
 
2003
 
261,061

 
94.2
%
 
3,372

 
13.71

 
Publix
 
Bealls, Bed Bath & Beyond, Michaels, Party City, Petco
 
 
103

 
Dolphin Village
 
St. Pete Beach
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
1990
 
134,324

 
82.7
%
 
1,637

 
14.74

 
Publix
 
CVS, Dollar Tree
 
 
104

 
Bay Pointe Plaza
 
St. Petersburg
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
2016
 
95,560

 
98.3
%
 
1,570

 
16.71

 
Publix
 
Bealls Outlet, Pet Supermarket
 
 
105

 
Rutland Plaza
 
St. Petersburg
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
2002
 
149,562

 
95.9
%
 
1,256

 
8.75

 
Winn-Dixie (Southeastern Grocers)
 
Bealls Outlet, Big Lots
 
 
106

 
Skyway Plaza
 
St. Petersburg
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
2002
 
110,799

 
79.1
%
 
717

 
8.18

 
—
 
Dollar Tree
 
 
107

 
Tyrone Gardens
 
St. Petersburg
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
1998
 
209,337

 
78.9
%
 
1,520

 
9.20

 
Winn-Dixie (Southeastern Grocers)
 
Big Lots, Chuck E. Cheese’s
 
 
108

 
Downtown Publix
 
Stuart
 
FL
 
Port St. Lucie, FL
 
2000
 
151,246

 
59.3
%
 
1,109

 
12.37

 
Publix
 
Family Dollar
 
 
109

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

 
100.0
%
 
1,322

 
12.01

 
Patel Brothers
 
Dollar Tree, LA Fitness
 
Walmart
110

 
Carrollwood Center
 
Tampa
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
2002
 
92,258

 
91.8
%
 
1,378

 
16.28

 
Publix
 
Rarehues
 
 
111

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

 
95.9
%
 
1,252

 
14.41

 
—
 
Deal$, Ross Dress for Less, Lumber Liquidators
 
 
112

 
Tarpon Mall
 
Tarpon Springs
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
2003
 
145,832

 
97.6
%
 
2,136

 
15.01

 
Publix
 
Petco, T.J.Maxx, Ulta
 
 
113

 
Venice Plaza
 
Venice
 
FL
 
North Port-Sarasota-Bradenton, FL
 
1999
 
132,345

 
98.3
%
 
915

 
7.04

 
Winn-Dixie (Southeastern Grocers)
 
Lumber Liquidators, Pet Supermarket, T.J.Maxx
 
 
114

 
Venice Shopping Center
 
Venice
 
FL
 
North Port-Sarasota-Bradenton, FL
 
2000
 
109,801

 
85.9
%
 
612

 
6.49

 
Publix
 
Bealls Outlet
 
 
115

 
Governors Towne Square
 
Acworth
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
2005
 
68,658

 
96.8
%
 
1,148

 
17.27

 
Publix
 
—
 
 
116

 
Albany Plaza
 
Albany
 
GA
 
Albany, GA
 
1995
 
114,169

 
75.1
%
 
542

 
6.32

 
Harveys (Southeastern Grocers)
 
Big Lots, OK Beauty & Fashions Outlet
 
 
117

 
Mansell Crossing
 
Alpharetta
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1993
 
332,364

 
98.6
%
 
5,069

 
19.30

 
—
 
AMC Theatres, Barnes & Noble, DSW, Macy's Furniture Gallery, REI, Sports Authority, T.J.Maxx, Ulta
 
Toys"R"Us
118

 
Perlis Plaza
 
Americus
 
GA
 
Americus, GA
 
1972
 
165,315

 
84.0
%
 
810

 
5.83

 
—
 
Belk, Roses
 
 
119

 
Northeast Plaza
 
Atlanta
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1952
 
442,201

 
88.6
%
 
4,455

 
11.54

 
City Farmers Market
 
dd's Discounts (Ross), Goodwill
 
 
120

 
Augusta West Plaza
 
Augusta
 
GA
 
Augusta-Richmond County, GA-SC
 
2006
 
207,823

 
68.3
%
 
1,073

 
7.56

 
—
 
Burlington Stores, Dollar Tree
 
 
121

 
Sweetwater Village
 
Austell
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1985
 
66,197

 
97.8
%
 
514

 
7.94

 
Food Depot
 
Family Dollar
 
 
122

 
Vineyards at Chateau Elan
 
Braselton
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
2002
 
79,047

 
92.0
%
 
1,028

 
14.13

 
Publix
 
—
 
 
123

 
Cedar Plaza
 
Cedartown
 
GA
 
Cedartown, GA
 
1994
 
83,300

 
76.5
%
 
547

 
8.59

 
Kroger
 
—
 
 
124

 
Conyers Plaza
 
Conyers
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
2001
 
171,374

 
97.4
%
 
2,025

 
12.13

 
Walmart Supercenter*
 
Jo-Ann Fabric & Craft Stores, Mattress Firm, PetSmart, Value Village
 
The Home Depot
125

 
Cordele Square
 
Cordele
 
GA
 
Cordele, GA
 
2002
 
127,953

 
87.3
%
 
755

 
6.76

 
Harveys (Southeastern Grocers)
 
Belk, Citi Trends, Cordele Theatres
 
 
126

 
Covington Gallery
 
Covington
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1991
 
174,857

 
94.3
%
 
1,092

 
6.62

 
Ingles
 
Kmart
 
 
127

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

 
90.6
%
 
703

 
11.53

 
Publix
 
—
 
 
128

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

 
88.9
%
 
1,143

 
13.56

 
Kroger
 
—
 
 
129

 
Northside
 
Dalton
 
GA
 
Dalton, GA
 
2001
 
73,931

 
92.8
%
 
558

 
8.14

 
Food City
 
Family Dollar
 
 
130

 
Cosby Station
 
Douglasville
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1994
 
77,811

 
90.8
%
 
779

 
11.03

 
Publix
 
—
 
 
131

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

 
93.9
%
 
700

 
16.04

 
Kroger*
 
—
 
 
132

 
Dublin Village
 
Dublin
 
GA
 
Dublin, GA
 
2005
 
94,920

 
94.5
%
 
657

 
7.32

 
Kroger
 
—
 
 
133

 
Westgate
 
Dublin
 
GA
 
Dublin, GA
 
2004
 
110,738

 
96.0
%
 
677

 
6.60

 
Harveys (Southeastern Grocers)
 
Bealls Outlet, Big Lots
 
The Home Depot
134

 
Venture Pointe
 
Duluth
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1995
 
155,172

 
100.0
%
 
1,564

 
10.08

 
—
 
American Signature Furniture, Ollie's Bargain Outlet, Studio Movie Grill
 
 
135

 
Banks Station
 
Fayetteville
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
2006
 
176,451

 
87.1
%
 
1,128

 
8.46

 
Food Depot
 
Cinemark, Staples
 
 
136

 
Barrett Place
 
Kennesaw
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1992
 
218,818

 
100.0
%
 
2,385

 
10.90

 
ALDI
 
Best Buy, Michaels, OfficeMax, PetSmart, The Furniture Mall
 
 
137

 
Shops of Huntcrest
 
Lawrenceville
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
2003
 
97,040

 
96.5
%
 
1,272

 
13.58

 
Publix
 
—
 
 
138

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

 
85.4
%
 
1,194

 
13.21

 
Publix
 
—
 
 
139

 
The Village at Mableton
 
Mableton
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1959
 
239,013

 
91.6
%
 
1,109

 
5.06

 
—
 
Dollar Tree, Kmart, Ollie's Bargain Outlet, Planet Fitness
 
 
140

 
North Park
 
Macon
 
GA
 
Macon, GA
 
1988
 
216,795

 
98.8
%
 
1,371

 
6.40

 
Kroger
 
Kmart
 
 
141

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

 
97.8
%
 
528

 
9.82

 
—
 
Marshalls
 
 
142

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

 
82.8
%
 
931

 
9.94

 
Kroger
 
—
 
 
143

 
Pavilions at Eastlake
 
Marietta
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1996
 
154,224

 
86.0
%
 
1,637

 
12.34

 
Kroger
 
J. Christopher's
 
 
144

 
Perry Marketplace
 
Perry
 
GA
 
Warner Robins, GA
 
2004
 
179,973

 
78.4
%
 
1,003

 
7.11

 
Kroger
 
Ace Hardware, Bealls Outlet, Goody's
 
 
145

 
Creekwood Village
 
Rex
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1990
 
69,778

 
88.5
%
 
510

 
8.26

 
Food Depot
 
—
 
 
146

 
Shops of Riverdale
 
Riverdale
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1995
 
16,808

 
82.2
%
 
268

 
19.41

 
Walmart Supercenter*
 
—
 
 
147

 
Holcomb Bridge Crossing
 
Roswell
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1988
 
105,420

 
94.0
%
 
968

 
9.77

 
—
 
PGA TOUR Superstore
 
 
148

 
Victory Square
 
Savannah
 
GA
 
Savannah, GA
 
2007
 
122,739

 
95.4
%
 
1,737

 
15.19

 
SuperTarget*
 
Citi Trends, Dollar Tree, Frank Theatres, Staples
 
The Home Depot

Supplemental Disclosure - Three Months Ended December 31, 2016
Page 41
jpgstandardlogoa17.jpg




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
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
149

 
Stockbridge Village
 
Stockbridge
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
2008
 
188,135

 
94.4
%
 
2,715

 
15.28

 
Kroger
 
—
 
 
150

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

 
98.6
%
 
1,812

 
5.30

 
Walmart Supercenter
 
Hobby Lobby, NCG Cinemas
 
 
151

 
Wilmington Island
 
Wilmington Island
 
GA
 
Savannah, GA
 
1985
 
101,462

 
90.3
%
 
1,031

 
11.25

 
Kroger
 
—
 
 
152

 
Kimberly West Shopping Center
 
Davenport
 
IA
 
Davenport-Moline-Rock Island, IA-IL
 
1987
 
113,713

 
89.0
%
 
631

 
6.24

 
Hy-Vee
 
—
 
 
153

 
Haymarket Mall
 
Des Moines
 
IA
 
Des Moines-West Des Moines, IA
 
1979
 
243,680

 
98.0
%
 
1,411

 
6.04

 
—
 
Burlington Stores, Harbor Freight Tools, Hobby Lobby
 
 
154

 
Haymarket Square
 
Des Moines
 
IA
 
Des Moines-West Des Moines, IA
 
1979
 
269,705

 
92.2
%
 
1,566

 
6.30

 
Price Chopper
 
Aspen Athletic Clubs, Big Lots, Northern Tool + Equipment, Office Depot
 
 
155

 
Warren Plaza
 
Dubuque
 
IA
 
Dubuque, IA
 
1993
 
96,310

 
93.4
%
 
748

 
8.80

 
Hy-Vee
 
—
 
Target
156

 
Annex of Arlington
 
Arlington Heights
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1999
 
193,703

 
94.5
%
 
3,020

 
16.49

 
Trader Joe's
 
Binny's Beverage Depot, Chuck E. Cheese's, hhgregg, Petco, Ulta
 
 
157

 
Ridge Plaza
 
Arlington Heights
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2000
 
151,643

 
90.5
%
 
2,011

 
14.66

 
—
 
Savers, XSport Fitness
 
Kohl's
158

 
Bartonville Square
 
Bartonville
 
IL
 
Peoria, IL
 
2001
 
61,678

 
95.2
%
 
323

 
5.84

 
Kroger
 
—
 
 
159

 
Festival Center
 
Bradley
 
IL
 
Kankakee, IL
 
2006
 
63,796

 
100.0
%
 
417

 
6.54

 
—
 
Big Lots, Dollar General
 
 
160

 
Southfield Plaza
 
Bridgeview
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2006
 
198,331

 
90.8
%
 
1,876

 
10.42

 
Shop & Save Market
 
Hobby Lobby, Walgreens
 
 
161

 
Commons of Chicago Ridge
 
Chicago Ridge
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1998
 
324,977

 
85.4
%
 
3,869

 
15.16

 
—
 
Marshalls, Office Depot, The Home Depot, XSport Fitness
 
 
162

 
Rivercrest Shopping Center
 
Crestwood
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1992
 
547,531

 
94.9
%
 
6,268

 
13.11

 
Ultra Foods
 
AMC, Best Buy, Five Below, Party City, PetSmart, Ross Dress for Less, T.J.Maxx
 
 
163

 
The Commons of Crystal Lake
 
Crystal Lake
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1987
 
273,060

 
86.3
%
 
2,363

 
10.02

 
Jewel-Osco (Albertsons)
 
Burlington Stores
 
Hobby Lobby
164

 
Elk Grove Town Center
 
Elk Grove Village
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1998
 
131,794

 
98.6
%
 
2,107

 
16.21

 
—
 
Walgreens
 
 
165

 
Crossroads Centre
 
Fairview Heights
 
IL
 
St. Louis, MO-IL
 
1975
 
242,752

 
91.9
%
 
1,944

 
8.71

 
Ruler Foods (Kroger)
 
Big Lots, Plato's Closet, Sky Zone, T.J.Maxx
 
 
166

 
Frankfort Crossing Shopping Center
Frankfort
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1992
 
114,534

 
96.3
%
 
1,429

 
12.95

 
Jewel-Osco (Albertsons)
 
Ace Hardware
 
 
167

 
Freeport Plaza
 
Freeport
 
IL
 
Freeport, IL
 
2000
 
87,846

 
88.3
%
 
503

 
6.49

 
Cub Foods (Supervalu)
 
—
 
 
168

 
Westview Center
 
Hanover Park
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1989
 
326,422

 
93.0
%
 
2,679

 
9.13

 
Tony's Finer Foods
 
Big Lots, LA Fitness, Sears Outlet
 
Value City
169

 
The Quentin Collection
 
Kildeer
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2006
 
171,530

 
98.6
%
 
2,843

 
16.80

 
The Fresh Market
 
Best Buy, DSW, PetSmart, Stein Mart
 
 
170

 
Butterfield Square
 
Libertyville
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1997
 
106,755

 
98.8
%
 
1,586

 
15.04

 
Sunset Foods
 
—
 
 
171

 
High Point Centre
 
Lombard
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1992
 
240,096

 
81.9
%
 
1,769

 
9.00

 
Ultra Foods
 
Jo-Ann Fabric & Craft Stores, Office Depot
 
 
172

 
Long Meadow Commons
 
Mundelein
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1997
 
118,470

 
84.9
%
 
1,535

 
16.19

 
Jewel-Osco
 
—
 
 
173

 
Westridge Court
 
Naperville
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1992
 
680,553

 
93.7
%
 
8,220

 
12.89

 
—
 
Art Van Furniture, Big Lots, buybuy BABY, Gordmans, hhgregg, Marshalls, Old Navy, Party City, Star Cinema Grill, Turk Furniture, Ulta
 
 
174

 
Sterling Bazaar
 
Peoria
 
IL
 
Peoria, IL
 
1992
 
87,359

 
92.5
%
 
760

 
9.62

 
Kroger
 
—
 
 
175

 
Rollins Crossing
 
Round Lake Beach
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1998
 
192,849

 
96.3
%
 
1,997

 
17.67

 
—
 
LA Fitness, Regal Cinemas
 
 
176

 
Twin Oaks Shopping Center
 
Silvis
 
IL
 
Davenport-Moline-Rock Island, IA-IL
 
1991
 
114,342

 
97.6
%
 
734

 
6.58

 
Hy-Vee
 
Eye Surgeons Associates
 
 
177

 
Parkway Pointe
 
Springfield
 
IL
 
Springfield, IL
 
1994
 
38,737

 
85.9
%
 
583

 
17.51

 
ALDI*
 
dressbarn, Family Christian Stores, Shoe Carnival
 
Target, Walmart
178

 
Sangamon Center North
 
Springfield
 
IL
 
Springfield, IL
 
1996
 
139,757

 
94.9
%
 
1,324

 
9.98

 
Schnucks
 
U.S. Post Office
 
 
179

 
Tinley Park Plaza
 
Tinley Park
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1973
 
248,077

 
71.7
%
 
2,202

 
12.38

 
Walt's Fine Foods
 
Planet Fitness, Tile Shop
 
 
180

 
Meridian Village
 
Carmel
 
IN
 
Indianapolis-Carmel-Anderson, IN
 
1990
 
130,769

 
81.4
%
 
902

 
8.47

 
—
 
Dollar Tree, Godby Home Furnishings, Ollie's Bargain Outlet
 
 
181

 
Columbus Center
 
Columbus
 
IN
 
Columbus, IN
 
1964
 
143,050

 
100.0
%
 
1,686

 
11.79

 
—
 
Big Lots, OfficeMax, T.J.Maxx, ULTA
 
Target
182

 
Elkhart Plaza West
 
Elkhart
 
IN
 
Elkhart-Goshen, IN
 
1997
 
81,651

 
91.2
%
 
574

 
30.94

 
Martin's Super Market
 
CVS
 
 
183

 
Apple Glen Crossing
 
Fort Wayne
 
IN
 
Fort Wayne, IN
 
2002
 
150,163

 
91.2
%
 
1,850

 
17.25

 
Walmart Supercenter*
 
Best Buy, Dick's Sporting Goods, PetSmart
 
Kohl's
184

 
Market Centre
 
Goshen
 
IN
 
Elkhart-Goshen, IN
 
1994
 
363,883

 
97.6
%
 
2,326

 
9.47

 
Sam's Club
 
Walmart
 
 
185

 
Marwood Plaza
 
Indianapolis
 
IN
 
Indianapolis-Carmel-Anderson, IN
 
1992
 
107,080

 
84.1
%
 
764

 
8.48

 
Kroger
 
—
 
 
186

 
Westlane Shopping Center
 
Indianapolis
 
IN
 
Indianapolis-Carmel-Anderson, IN
 
1968
 
71,602

 
100.0
%
 
657

 
9.18

 
Save-A-Lot
 
Citi Trends
 
 
187

 
Valley View Plaza
 
Marion
 
IN
 
Marion, IN
 
1997
 
29,974

 
83.0
%
 
336

 
13.51

 
Walmart Supercenter*
 
Aaron's
 
 
188

 
Bittersweet Plaza
 
Mishawaka
 
IN
 
South Bend-Mishawaka, IN-MI
 
2000
 
91,798

 
90.4
%
 
731

 
8.81

 
Martin's Super Market
 
—
 
 
189

 
Lincoln Plaza
 
New Haven
 
IN
 
Fort Wayne, IN
 
1968
 
103,788

 
68.3
%
 
539

 
7.60

 
Kroger
 
—
 
 
190

 
Speedway Super Center
 
Speedway
 
IN
 
Indianapolis-Carmel-Anderson, IN
 
1960
 
571,967

 
79.9
%
 
4,127

 
9.09

 
Kroger
 
Kohl's, Oak Street Health Center, Petco, Sears Outlet, T.J.Maxx
 
 
191

 
Sagamore Park Centre
 
West Lafayette
 
IN
 
Lafayette-West Lafayette, IN
 
2017
 
132,027

 
100.0
%
 
1,304

 
9.88

 
Pay Less (Kroger)
 
—
 
 
192

 
Westchester Square
 
Lenexa
 
KS
 
Kansas City, MO-KS
 
1987
 
155,518

 
89.5
%
 
1,233

 
8.86

 
Hy-Vee
 
—
 
 
193

 
West Loop Shopping Center
 
Manhattan
 
KS
 
Manhattan, KS
 
2013
 
212,261

 
95.1
%
 
1,763

 
14.13

 
Dillons (Kroger)
 
Bellus Academy, Jo-Ann Fabric & Craft Stores, Marshalls
 
 
194

 
Green River Plaza
 
Campbellsville
 
KY
 
Campbellsville, KY
 
1989
 
198,315

 
99.0
%
 
1,419

 
7.23

 
Kroger
 
Burke's Outlet, Goody’s, JC Penney, Jo-Ann Fabric & Craft Stores, Tractor Supply Co.
 
 
195

 
North Dixie Plaza
 
Elizabethtown
 
KY
 
Elizabethtown-Fort Knox, KY
 
1992
 
130,466

 
100.0
%
 
881

 
6.75

 
—
 
—
 
 
196

 
Florence Plaza - Florence Square
 
Florence
 
KY
 
Cincinnati, OH-KY-IN
 
2014
 
686,286

 
98.7
%
 
7,258

 
13.45

 
Kroger
 
Barnes & Noble, Burlington Stores, Harbor Freight Tools, Hobby Lobby, Old Navy, Ollie's Bargain Outlet, Staples, T.J.Maxx
 
 
197

 
Highland Commons
 
Glasgow
 
KY
 
Glasgow, KY
 
1992
 
130,466

 
100.0
%
 
780

 
5.98

 
Food Lion (Delhaize)
 
Kmart
 
 
198

 
Jeffersontown Commons
 
Jeffersontown
 
KY
 
Louisville/Jefferson County, KY-IN
 
1959
 
208,374

 
94.8
%
 
1,775

 
9.47

 
—
 
King Pin Lanes, Louisville Athletic Club, Savers
 
 

Supplemental Disclosure - Three Months Ended December 31, 2016
Page 42
jpgstandardlogoa17.jpg




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
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
199

 
Mist Lake Plaza
 
Lexington
 
KY
 
Lexington-Fayette, KY
 
1993
 
217,292

 
99.3
%
 
1,565

 
7.26

 
—
 
Gabriel Brothers, Walmart
 
 
200

 
London Marketplace
 
London
 
KY
 
London, KY
 
1994
 
169,032

 
99.1
%
 
1,118

 
6.68

 
Kroger
 
Goody's, Kmart
 
 
201

 
Eastgate Shopping Center
 
Louisville
 
KY
 
Louisville/Jefferson County, KY-IN
 
2002
 
174,947

 
100.0
%
 
1,946

 
11.12

 
Kroger
 
Petco
 
 
202

 
Plainview Village
 
Louisville
 
KY
 
Louisville/Jefferson County, KY-IN
 
1997
 
165,467

 
94.7
%
 
1,544

 
10.40

 
Kroger
 
Annie's Attic, Tuesday Morning
 
 
203

 
Stony Brook I & II
 
Louisville
 
KY
 
Louisville/Jefferson County, KY-IN
 
1988
 
158,940

 
99.4
%
 
1,907

 
12.07

 
Kroger Marketplace
 
—
 
 
204

 
Towne Square North
 
Owensboro
 
KY
 
Owensboro, KY
 
1988
 
163,161

 
100.0
%
 
1,319

 
8.08

 
—
 
Books-A-Million, Hobby Lobby, Office Depot
 
 
205

 
Lexington Road Plaza
 
Versailles
 
KY
 
Lexington-Fayette, KY
 
2007
 
197,668

 
96.7
%
 
1,297

 
6.78

 
—
 
Kmart
 
 
206

 
Karam Shopping Center
 
Lafayette
 
LA
 
Lafayette, LA
 
1970
 
100,120

 
88.4
%
 
313

 
3.54

 
Super 1 Foods
 
dd's Discounts (Ross)
 
 
207

 
Iberia Plaza
 
New Iberia
 
LA
 
Lafayette, LA
 
1992
 
131,731

 
99.0
%
 
945

 
7.25

 
Super 1 Foods
 
—
 
 
208

 
Lagniappe Village
 
New Iberia
 
LA
 
Lafayette, LA
 
2010
 
201,360

 
98.5
%
 
1,595

 
8.04

 
—
 
Big Lots, Citi Trends, Stage, T.J.Maxx
 
 
209

 
The Pines Shopping Center
 
Pineville
 
LA
 
Alexandria, LA
 
1991
 
179,039

 
97.8
%
 
1,093

 
6.24

 
Super 1 Foods
 
—
 
 
210

 
Points West Plaza
 
Brockton
 
MA
 
Boston-Cambridge-Newton, MA-NH
 
1960
 
132,989

 
97.1
%
 
1,018

 
7.88

 
PriceRite (Wakefern)
 
Citi Trends, L&M Bargain, Ocean State Job Lot
 
 
211

 
Burlington Square I, II & III
 
Burlington
 
MA
 
Boston-Cambridge-Newton, MA-NH
 
1992
 
74,800

 
100.0
%
 
2,057

 
27.50

 
—
 
Golf Galaxy, Pyara Aveda Spa & Salon, Staples
 
 
212

 
Chicopee Marketplace
 
Chicopee
 
MA
 
Springfield, MA
 
2005
 
151,003

 
100.0
%
 
2,750

 
18.86

 
Walmart Supercenter*
 
Marshalls, Party City, Staples
 
 
213

 
Holyoke Shopping Center
 
Holyoke
 
MA
 
Springfield, MA
 
2000
 
195,795

 
94.6
%
 
1,504

 
11.86

 
Super Stop & Shop (Ahold)
 
Jo-Ann Fabric & Craft Stores, Ocean State Job Lot
 
 
214

 
WaterTower Plaza
 
Leominster
 
MA
 
Worcester, MA-CT
 
2000
 
282,591

 
89.7
%
 
3,095

 
12.21

 
Shaw's (Albertsons)
 
Barnes & Noble, Michaels, Petco, Staples, T.J.Maxx
 
 
215

 
Lunenberg Crossing
 
Lunenburg
 
MA
 
Worcester, MA-CT
 
1994
 
25,515

 
58.8
%
 
249

 
16.60

 
Hannaford Bros. (Delhaize)*
 
—
 
Walmart
216

 
Lynn Marketplace
 
Lynn
 
MA
 
Boston-Cambridge-Newton, MA-NH
 
1968
 
78,092

 
100.0
%
 
1,137

 
14.56

 
Shaw's (Albertsons)
 
Rainbow
 
 
217

 
Webster Square Shopping Center
 
Marshfield
 
MA
 
Boston-Cambridge-Newton, MA-NH
 
2005
 
182,734

 
98.7
%
 
2,239

 
12.41

 
Star Market (Albertsons)
 
Marshalls, Ocean State Job Lot
 
 
218

 
Berkshire Crossing
 
Pittsfield
 
MA
 
Pittsfield, MA
 
1994
 
442,354

 
97.7
%
 
3,911

 
20.75

 
Market 32
 
Barnes & Noble, Michaels, Staples, The Home Depot, Ulta, Walmart
 
 
219

 
Westgate Plaza
 
Westfield
 
MA
 
Springfield, MA
 
1996
 
103,903

 
98.7
%
 
1,165

 
11.70

 
—
 
Ocean State Job Lot, Staples, T.J.Maxx
 
 
220

 
Perkins Farm Marketplace
 
Worcester
 
MA
 
Worcester, MA-CT
 
1967
 
204,038

 
74.7
%
 
1,858

 
21.80

 
Super Stop & Shop (Ahold)
 
Citi Trends, Fallas Paredes
 
 
221

 
South Plaza Shopping Center
 
California
 
MD
 
California-Lexington Park, MD
 
2005
 
92,335

 
100.0
%
 
1,806

 
19.56

 
—
 
Best Buy, Old Navy, Petco, Ross Dress for Less
 
 
222

 
Campus Village Shoppes
 
College Park
 
MD
 
Washington-Arlington-Alexandria, DC-VA-MD-WV
1986
 
25,529

 
100.0
%
 
738

 
28.91

 
—
 
—
 
 
223

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

 
99.3
%
 
3,061

 
10.53

 
Giant Food (Ahold)
 
Jo-Ann Fabric & Craft Stores, Kmart, Peebles
 
 
224

 
Liberty Plaza
 
Randallstown
 
MD
 
Baltimore-Columbia-Towson, MD
 
1962
 
218,862

 
100.0
%
 
2,641

 
12.07

 
Walmart Supercenter
 
Marshalls
 
 
225

 
Rising Sun Towne Centre
 
Rising Sun
 
MD
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1998
 
146,852

 
100.0
%
 
1,801

 
12.55

 
Martin's Food (Ahold)
 
Big Lots
 
 
226

 
Pine Tree Shopping Center
 
Portland
 
ME
 
Portland-South Portland, ME
 
1958
 
287,513

 
99.3
%
 
1,964

 
16.76

 
—
 
Big Lots, Dollar Tree, Jo-Ann Fabric & Craft Stores, Lowe's
 
 
227

 
Maple Village
 
Ann Arbor
 
MI
 
Ann Arbor, MI
 
2017
 
287,387

 
87.2
%
 
3,153

 
12.58

 
Plum Market
 
Dunham's Sports, HomeGoods, Sierra Trading Post, Stein Mart
 
 
228

 
Grand Crossing
 
Brighton
 
MI
 
Detroit-Warren-Dearborn, MI
 
2005
 
85,389

 
100.0
%
 
894

 
10.47

 
VG's Food (SpartanNash)
 
ACE Hardware
 
 
229

 
Farmington Crossroads
 
Farmington
 
MI
 
Detroit-Warren-Dearborn, MI
 
1986
 
79,068

 
100.0
%
 
808

 
10.22

 
—
 
Dollar Tree, Ollie's Bargain Outlet, True Value
 
 
230

 
Silver Pointe Shopping Center
 
Fenton
 
MI
 
Flint, MI
 
1996
 
160,943

 
87.5
%
 
1,798

 
12.76

 
VG's Food (SpartanNash)
 
Dunham's Sports, Glik's
 
 
231

 
Cascade East
 
Grand Rapids
 
MI
 
Grand Rapids-Wyoming, MI
 
1983
 
99,529

 
78.1
%
 
574

 
7.39

 
D&W Fresh Market (SpartanNash)
 
—
 
 
232

 
Delta Center
 
Lansing
 
MI
 
Lansing-East Lansing, MI
 
1985
 
186,246

 
96.1
%
 
1,517

 
8.48

 
—
 
Bed Bath & Beyond, DXL Destination XL, Hobby Lobby, Planet Fitness
 
 
233

 
Lakes Crossing
 
Muskegon
 
MI
 
Muskegon, MI
 
2008
 
110,997

 
84.9
%
 
1,403

 
16.28

 
—
 
Jo-Ann Fabric & Craft Stores, Party City, Shoe Carnival, Ulta
 
Kohl's
234

 
Redford Plaza
 
Redford
 
MI
 
Detroit-Warren-Dearborn, MI
 
1992
 
285,386

 
96.0
%
 
2,593

 
9.46

 
Kroger
 
Ace Hardware, Burlington Stores, CW Price, Dollar Tree
 
 
235

 
Hampton Village Centre
 
Rochester Hills
 
MI
 
Detroit-Warren-Dearborn, MI
 
2004
 
454,377

 
92.6
%
 
5,727

 
18.27

 
—
 
Best Buy, DSW, Emagine Theatre, Kohl's, Old Navy, T.J.Maxx, Ulta
 
Target
236

 
Fashion Corners
 
Saginaw
 
MI
 
Saginaw, MI
 
2004
 
184,735

 
100.0
%
 
1,839

 
9.96

 
—
 
Bed Bath & Beyond, Best Buy, Dunham's Sports, Guitar Center, Harbor Freight Tools
 
 
237

 
Green Acres
 
Saginaw
 
MI
 
Saginaw, MI
 
2017
 
247,773

 
89.9
%
 
1,469

 
14.43

 
Kroger
 
Planet Fitness, Rite Aid
 
 
238

 
Hall Road Crossing
 
Shelby Township
 
MI
 
Detroit-Warren-Dearborn, MI
 
1999
 
175,503

 
95.9
%
 
2,314

 
13.75

 
—
 
Gander Mountain, Michaels, Old Navy, Ulta
 
 
239

 
Southfield Plaza
 
Southfield
 
MI
 
Detroit-Warren-Dearborn, MI
 
1970
 
101,724

 
98.5
%
 
1,151

 
11.49

 
—
 
Party City, Planet Fitness
 
Burlington Stores
240

 
18 Ryan
 
Sterling Heights
 
MI
 
Detroit-Warren-Dearborn, MI
 
1997
 
101,709

 
100.0
%
 
1,469

 
14.44

 
VG's Food (SpartanNash)
 
O'Reilly Auto Parts, Planet Fitness
 
 
241

 
Delco Plaza
 
Sterling Heights
 
MI
 
Detroit-Warren-Dearborn, MI
 
1996
 
154,853

 
100.0
%
 
1,020

 
6.59

 
—
 
Babies"R"Us, Bed Bath & Beyond, Dunham's Mega Sports, Tenpenny Furniture
 
 
242

 
Grand Traverse Crossing
 
Traverse City
 
MI
 
Traverse City, MI
 
1996
 
411,758

 
100.0
%
 
2,922

 
27.08

 
Walmart Supercenter
 
Books-A-Million, PetSmart, Staples, The Home Depot, Toys"R"Us, Ulta
 
 
243

 
West Ridge
 
Westland
 
MI
 
Detroit-Warren-Dearborn, MI
 
1989
 
162,874

 
72.0
%
 
1,299

 
11.07

 
—
 
Bed Bath & Beyond, Crunch Fitness, Party City, Petco
 
Burlington Stores, Target
244

 
Roundtree Place
 
Ypsilanti
 
MI
 
Ann Arbor, MI
 
1992
 
246,620

 
96.9
%
 
1,126

 
13.01

 
Walmart Supercenter
 
Harbor Freight Tools, Ollie's Bargain Outlet
 
 
245

 
Washtenaw Fountain Plaza
 
Ypsilanti
 
MI
 
Ann Arbor, MI
 
2005
 
123,706

 
96.0
%
 
836

 
7.04

 
Save-A-Lot
 
Dollar Tree, Dunham's Sports, Planet Fitness
 
 
246

 
Southport Centre I - VI
 
Apple Valley
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
1985
 
124,937

 
98.9
%
 
2,085

 
16.87

 
SuperTarget*
 
Best Buy, Dollar Tree, Walgreens
 
 
247

 
Austin Town Center
 
Austin
 
MN
 
Austin, MN
 
1999
 
108,486

 
67.5
%
 
409

 
7.02

 
ALDI
 
Jo-Ann Fabric & Craft Stores
 
 

Supplemental Disclosure - Three Months Ended December 31, 2016
Page 43
jpgstandardlogoa17.jpg




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
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
248

 
Burning Tree Plaza
 
Duluth
 
MN
 
Duluth, MN-WI
 
1987
 
182,969

 
98.6
%
 
2,083

 
11.55

 
—
 
Best Buy, Dunham's Sports, Jo-Ann Fabric & Craft Stores, T.J.Maxx
 
 
249

 
Elk Park Center
 
Elk River
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
1999
 
204,992

 
92.0
%
 
2,022

 
10.72

 
Cub Foods (Jerry's Foods)
 
OfficeMax
 
 
250

 
Westwind Plaza
 
Minnetonka
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
2007
 
87,942

 
95.0
%
 
1,403

 
16.79

 
Cub Foods (Supervalu)*
 
—
 
 
251

 
Richfield Hub
 
Richfield
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
1952
 
213,595

 
89.5
%
 
2,255

 
11.80

 
Rainbow Foods (Jerry's Foods)
 
FLEX Academy, Marshalls, Michaels
 
 
252

 
Roseville Center
 
Roseville
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
2000
 
69,537

 
57.2
%
 
628

 
15.79

 
Cub Foods (Jerry's Foods)*
 
Dollar Tree
 
 
253

 
Marketplace @ 42
 
Savage
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
1999
 
114,505

 
96.9
%
 
1,771

 
15.97

 
Fresh Thyme Farmers Market
 
Marshalls
 
 
254

 
Sun Ray Shopping Center
 
St. Paul
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
1958
 
291,020

 
92.2
%
 
2,516

 
12.43

 
Cub Foods (Supervalu)
 
Planet Fitness, T.J.Maxx, Valu Thrift Store
 
 
255

 
White Bear Hills Shopping Center
 
White Bear Lake
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
1996
 
73,095

 
98.4
%
 
703

 
9.77

 
Festival Foods
 
Dollar Tree
 
 
256

 
Ellisville Square
 
Ellisville
 
MO
 
St. Louis, MO-IL
 
1989
 
137,006

 
65.3
%
 
1,119

 
12.51

 
—
 
Michaels, Party City, Tuesday Morning
 
 
257

 
Clocktower Place
 
Florissant
 
MO
 
St. Louis, MO-IL
 
1987
 
207,317

 
92.2
%
 
1,475

 
7.85

 
ALDI
 
Florissant Furniture & Rug Gallery, K&G Fashion Superstore, Ross Dress for Less
 
 
258

 
Hub Shopping Center
 
Independence
 
MO
 
Kansas City, MO-KS
 
1995
 
160,423

 
92.5
%
 
827

 
5.95

 
Price Chopper
 
—
 
 
259

 
Watts Mill Plaza
 
Kansas City
 
MO
 
Kansas City, MO-KS
 
1997
 
161,717

 
94.4
%
 
1,324

 
8.67

 
Price Chopper
 
Ace Hardware
 
 
260

 
Liberty Corners
 
Liberty
 
MO
 
Kansas City, MO-KS
 
1987
 
124,808

 
91.4
%
 
975

 
8.55

 
Price Chopper
 
—
 
 
261

 
Maplewood Square
 
Maplewood
 
MO
 
St. Louis, MO-IL
 
1998
 
71,590

 
93.6
%
 
474

 
7.08

 
Shop 'n Save (Supervalu)
 
—
 
 
262

 
Clinton Crossing
 
Clinton
 
MS
 
Jackson, MS
 
1990
 
112,148

 
100.0
%
 
1,092

 
10.26

 
Kroger
 
—
 
 
263

 
County Line Plaza
 
Jackson
 
MS
 
Jackson, MS
 
1997
 
221,127

 
94.5
%
 
2,446

 
11.71

 
—
 
Burke's Outlet, Burlington Stores, Conn's, Kirkland's, Tuesday Morning
 
 
264

 
Devonshire Place
 
Cary
 
NC
 
Raleigh, NC
 
1996
 
106,680

 
100.0
%
 
1,535

 
14.70

 
—
 
Burlington Stores, Dollar Tree, Golf Galaxy, REI
 
 
265

 
McMullen Creek Market
 
Charlotte
 
NC
 
Charlotte-Concord-Gastonia, NC-SC
 
1988
 
272,857

 
91.1
%
 
3,240

 
13.03

 
Walmart Neighborhood Market
 
Burlington Stores, Dollar Tree, Rugged Wearhouse, Staples
 
 
266

 
The Commons at Chancellor Park
 
Charlotte
 
NC
 
Charlotte-Concord-Gastonia, NC-SC
 
1994
 
348,604

 
83.5
%
 
1,651

 
8.91

 
—
 
Big Lots, Gabe's, The Home Depot, Value City Furniture
 
 
267

 
Macon Plaza
 
Franklin
 
NC
 
—
 
2001
 
92,787

 
94.1
%
 
472

 
10.46

 
BI-LO (Southeastern Grocers)
 
Peebles
 
 
268

 
Garner Towne Square
 
Garner
 
NC
 
Raleigh, NC
 
1997
 
184,347

 
82.5
%
 
1,855

 
12.20

 
Kroger
 
OfficeMax, PetSmart
 
Target, The Home Depot
269

 
Franklin Square
 
Gastonia
 
NC
 
Charlotte-Concord-Gastonia, NC-SC
 
1989
 
317,705

 
83.7
%
 
3,020

 
12.83

 
Walmart Supercenter*
 
Best Buy, Dollar Tree, Michaels, Ross Dress for Less
 
 
270

 
Wendover Place
 
Greensboro
 
NC
 
Greensboro-High Point, NC
 
2000
 
406,768

 
98.1
%
 
4,931

 
14.50

 
—
 
Babies"R"Us, Christmas Tree Shops, Dick's Sporting Goods, Kohl's, Old Navy, PetSmart
 
Ross Dress for Less, Target
271

 
University Commons
 
Greenville
 
NC
 
Greenville, NC
 
1996
 
233,153

 
96.2
%
 
2,990

 
13.33

 
Harris Teeter (Kroger)
 
A.C. Moore, Barnes & Noble, Petco, T.J.Maxx
 
Target
272

 
Valley Crossing
 
Hickory
 
NC
 
Hickory-Lenoir-Morganton, NC
 
2014
 
191,431

 
100.0
%
 
1,742

 
9.10

 
—
 
Academy Sports + Outdoors, Dollar Tree, Fallas Paredes, Harbor Freight Tools, Ollie's Bargain Outlet
 
 
273

 
Kinston Pointe
 
Kinston
 
NC
 
Kinston, NC
 
2001
 
250,580

 
99.6
%
 
920

 
3.69

 
Walmart Supercenter
 
Dollar Tree
 
 
274

 
Magnolia Plaza
 
Morganton
 
NC
 
Hickory-Lenoir-Morganton, NC
 
1990
 
104,539

 
47.0
%
 
246

 
5.01

 
Ingles
 
—
 
 
275

 
Roxboro Square
 
Roxboro
 
NC
 
Durham-Chapel Hill, NC
 
2005
 
97,226

 
93.8
%
 
1,380

 
15.13

 
—
 
Person County Health & Human Services
 
 
276

 
Innes Street Market
 
Salisbury
 
NC
 
Charlotte-Concord-Gastonia, NC-SC
 
2002
 
349,425

 
98.5
%
 
3,763

 
10.94

 
Food Lion (Delhaize)
 
Lowe's, Marshalls, Old Navy, PetSmart, Staples, Tinseltown
 
 
277

 
Salisbury Marketplace
 
Salisbury
 
NC
 
Charlotte-Concord-Gastonia, NC-SC
 
1987
 
79,732

 
72.7
%
 
623

 
10.75

 
Food Lion (Delhaize)
 
Family Dollar
 
 
278

 
Crossroads
 
Statesville
 
NC
 
Charlotte-Concord-Gastonia, NC-SC
 
1997
 
340,189

 
98.1
%
 
2,085

 
6.25

 
Walmart Supercenter
 
Big Lots, Burkes Outlet, Tractor Supply
 
 
279

 
Anson Station
 
Wadesboro
 
NC
 
—
 
1988
 
132,353

 
67.1
%
 
549

 
6.18

 
Food Lion (Delhaize)
 
Peebles, Tractor Supply Co.
 
 
280

 
New Centre Market
 
Wilmington
 
NC
 
Wilmington, NC
 
1998
 
143,762

 
97.5
%
 
1,983

 
14.55

 
—
 
OfficeMax, PetSmart, Sportsmans Warehouse
 
Target
281

 
University Commons
 
Wilmington
 
NC
 
Wilmington, NC
 
2007
 
235,345

 
98.5
%
 
3,426

 
14.78

 
Lowes Foods
 
A.C. Moore, HomeGoods, T.J.Maxx
 
 
282

 
Whitaker Square
 
Winston Salem
 
NC
 
Winston-Salem, NC
 
1996
 
82,760

 
97.9
%
 
1,200

 
14.81

 
Harris Teeter (Kroger)
 
—
 
 
283

 
Parkway Plaza
 
Winston-Salem
 
NC
 
Winston-Salem, NC
 
2005
 
283,830

 
89.9
%
 
2,848

 
11.75

 
Super Compare Foods
 
Big Lots, Citi Trends, Office Depot
 
 
284

 
Stratford Commons
 
Winston-Salem
 
NC
 
Winston-Salem, NC
 
1995
 
72,308

 
94.8
%
 
960

 
14.00

 
—
 
Golf Galaxy, Mattress Firm, OfficeMax
 
 
285

 
Bedford Grove
 
Bedford
 
NH
 
Manchester-Nashua, NH
 
1989
 
216,941

 
69.6
%
 
1,352

 
42.52

 
—
 
Walmart
 
 
286

 
Capitol Shopping Center
 
Concord
 
NH
 
Concord, NH
 
2001
 
182,887

 
100.0
%
 
2,000

 
11.19

 
DeMoulas Supermarkets
 
Burlington Stores, Jo-Ann Fabric & Craft Stores, Marshalls
 
 
287

 
Willow Springs Plaza
 
Nashua
 
NH
 
Manchester-Nashua, NH
 
1990
 
131,248

 
100.0
%
 
2,354

 
19.55

 
—
 
JC Penney, New Hampshire Liquor and Wine Outlet, Petco
 
The Home Depot
288

 
Seacoast Shopping Center
 
Seabrook
 
NH
 
Boston-Cambridge-Newton, MA-NH
 
1991
 
91,690

 
78.7
%
 
340

 
6.27

 
—
 
Jo-Ann Fabric & Craft Stores, NH1 MotorPlex
 
 
289

 
Tri-City Plaza
 
Somersworth
 
NH
 
Boston-Cambridge-Newton, MA-NH
 
1990
 
150,004

 
100.0
%
 
1,472

 
9.81

 
Market Basket (DeMoulas Supermarkets)
 
T.J.Maxx
 
 
290

 
Laurel Square
 
Brick
 
NJ
 
New York-Newark-Jersey City, NY-NJ-PA
 
2003
 
246,235

 
67.1
%
 
1,041

 
6.83

 
—
 
Kmart, Planet Fitness
 
 
291

 
the Shoppes at Cinnaminson
 
Cinnaminson
 
NJ
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2010
 
298,309

 
95.9
%
 
4,259

 
22.00

 
ShopRite
 
Burlington Stores, Ross Dress For Less
 
 
292

 
Acme Clark
 
Clark
 
NJ
 
New York-Newark-Jersey City, NY-NJ-PA
 
2007
 
52,812

 
100.0
%
 
1,422

 
26.93

 
Acme (Albertsons)
 
—
 
 
293

 
Collegetown Shopping Center
 
Glassboro
 
NJ
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1966
 
250,408

 
97.5
%
 
2,200

 
9.01

 
—
 
Kmart, LA Fitness, Staples
 
 
294

 
Hamilton Plaza
 
Hamilton
 
NJ
 
Trenton, NJ
 
1972
 
148,919

 
98.0
%
 
1,069

 
7.33

 
—
 
Hibachi Grill & Supreme Buffet, Kmart, Planet Fitness
 
 
295

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

 
89.5
%
 
1,489

 
13.07

 
Super Stop & Shop (Ahold)
 
—
 
 
296

 
Lakewood Plaza
 
Lakewood
 
NJ
 
New York-Newark-Jersey City, NY-NJ-PA
 
1966
 
201,010

 
100.0
%
 
3,166

 
15.75

 
Gourmet Glatt Market
 
Dollar Tree
 
 

Supplemental Disclosure - Three Months Ended December 31, 2016
Page 44
jpgstandardlogoa17.jpg




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
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
297

 
Marlton Crossing
 
Marlton
 
NJ
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1986
 
332,671

 
98.1
%
 
5,524

 
16.93

 
—
 
Burlington Stores, DSW, HomeGoods, Michaels, T.J. Maxx
 
 
298

 
Middletown Plaza
 
Middletown
 
NJ
 
New York-Newark-Jersey City, NY-NJ-PA
 
2001
 
197,066

 
87.7
%
 
3,409

 
20.02

 
ShopRite
 
Petco, Rite Aid
 
 
299

 
Larchmont Centre
 
Mount Laurel
 
NJ
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1985
 
103,787

 
92.0
%
 
1,236

 
30.62

 
ShopRite
 
—
 
 
300

 
Old Bridge Gateway
 
Old Bridge
 
NJ
 
New York-Newark-Jersey City, NY-NJ-PA
 
1995
 
246,120

 
91.2
%
 
3,903

 
17.39

 
Bhavani Food Market
 
Marshalls, Modell's Sporting Goods, Pep Boys, Petco, Robert Wood Johnson Fitness
 
 
301

 
Morris Hills Shopping Center
 
Parsippany
 
NJ
 
New York-Newark-Jersey City, NY-NJ-PA
 
1994
 
159,561

 
97.6
%
 
2,975

 
19.11

 
—
 
Blink Fitness (Equinox), Cinepolis, HomeGoods, Marshalls
 
 
302

 
Rio Grande Plaza
 
Rio Grande
 
NJ
 
Ocean City, NJ
 
1997
 
141,330

 
87.8
%
 
1,446

 
11.65

 
ShopRite*
 
JC Penney, Peebles, PetSmart
 
 
303

 
Ocean Heights Plaza
 
Somers Point
 
NJ
 
Atlantic City-Hammonton, NJ
 
2006
 
179,199

 
99.1
%
 
3,307

 
18.62

 
ShopRite
 
Pier 1 Imports, Staples
 
 
304

 
Springfield Place
 
Springfield
 
NJ
 
New York-Newark-Jersey City, NY-NJ-PA
 
1965
 
32,209

 
100.0
%
 
389

 
12.08

 
ShopRite
 
—
 
 
305

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

 
80.1
%
 
1,322

 
16.77

 
Acme (Albertsons)*
 
Dollar Tree, WOW! Fitness
 
 
306

 
Cross Keys Commons
 
Turnersville
 
NJ
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1989
 
216,323

 
92.0
%
 
3,072

 
15.98

 
Walmart Supercenter*
 
Marshalls, Ross Dress for Less, Staples, ULTA
 
 
307

 
Dover Park Plaza
 
Yardville
 
NJ
 
Trenton, NJ
 
2005
 
56,638

 
82.2
%
 
722

 
15.52

 
—
 
CVS, Dollar Tree
 
 
308

 
St Francis Plaza
 
Santa Fe
 
NM
 
Santa Fe, NM
 
1993
 
35,800

 
100.0
%
 
460

 
12.85

 
Whole Foods Market
 
Walgreens
 
 
309

 
Smith's
 
Socorro
 
NM
 
—
 
1976
 
48,000

 
100.0
%
 
506

 
10.54

 
—
 
—
 
 
310

 
Galleria Commons
 
Henderson
 
NV
 
Las Vegas-Henderson-Paradise, NV
 
1998
 
278,411

 
100.0
%
 
3,217

 
11.70

 
—
 
Babies"R"Us, Burlington Stores, Kirkland’s, Stein Mart, T.J.Maxx, Tuesday Morning
 
 
311

 
Montecito Marketplace
 
Las Vegas
 
NV
 
Las Vegas-Henderson-Paradise, NV
 
2006
 
190,434

 
100.0
%
 
3,779

 
30.21

 
Smith's (Kroger)
 
T.J.Maxx
 
 
312

 
Renaissance Center East
 
Las Vegas
 
NV
 
Las Vegas-Henderson-Paradise, NV
 
1981
 
144,216

 
80.5
%
 
1,350

 
11.63

 
—
 
Savers
 
 
313

 
Parkway Plaza
 
Carle Place
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1993
 
89,704

 
100.0
%
 
2,637

 
29.40

 
—
 
Minado, Stew Leonard's Wines, T.J.Maxx
 
 
314

 
Erie Canal Centre
 
Dewitt
 
NY
 
Syracuse, NY
 
2017
 
115,500

 
43.4
%
 
651

 
13.00

 
—
 
Dick's Sporting Goods
 
 
315

 
Unity Plaza
 
East Fishkill
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2005
 
67,462

 
100.0
%
 
1,422

 
21.08

 
Acme (Albertsons) *
 
—
 
 
316

 
Suffolk Plaza
 
East Setauket
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1998
 
84,480

 
27.8
%
 
688

 
29.30

 
BJ's Wholesale*, Walmart Supercenter*
 
—
 
Kohl's
317

 
Three Village Shopping Center
 
East Setauket
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1991
 
77,458

 
92.6
%
 
1,859

 
25.91

 
—
 
Ace Hardware
 
 
318

 
Stewart Plaza
 
Garden City
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1990
 
193,622

 
90.2
%
 
2,876

 
16.46

 
—
 
Burlington Stores, K&G Fashion Superstore
 
 
319

 
Genesee Valley Shopping Center
 
Geneseo
 
NY
 
Rochester, NY
 
2007
 
191,314

 
90.3
%
 
1,642

 
9.81

 
Wegmans
 
Peebles, Tractor Supply Co.
 
 
320

 
McKinley Plaza
 
Hamburg
 
NY
 
Buffalo-Cheektowaga-Niagara Falls, NY
 
1991
 
95,544

 
97.9
%
 
1,379

 
15.13

 
Wegmans*
 
A.C. Moore, T.J.Maxx
 
 
321

 
Dalewood I, II & III Shopping Center
 
Hartsdale
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1972
 
191,441

 
100.0
%
 
6,468

 
34.52

 
H-Mart, Best Market
 
Christmas Tree Shops, Rite Aid, T.J.Maxx
 
 
322

 
Hornell Plaza
 
Hornell
 
NY
 
Corning, NY
 
2005
 
253,335

 
100.0
%
 
2,101

 
8.29

 
Wegmans
 
Walmart
 
 
323

 
Cayuga Mall
 
Ithaca
 
NY
 
Ithaca, NY
 
1969
 
204,830

 
84.0
%
 
1,512

 
8.79

 
—
 
Big Lots, Jo-Ann Fabric & Craft Stores, Party City, Rite Aid, True Value
 
 
324

 
Kings Park Plaza
 
Kings Park
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1985
 
71,942

 
97.4
%
 
1,683

 
24.02

 
Key Food Marketplace
 
T.J.Maxx
 
 
325

 
Village Square Shopping Center
 
Larchmont
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1981
 
17,000

 
100.0
%
 
583

 
34.29

 
Trader Joe's
 
—
 
 
326

 
Falcaro's Plaza
 
Lawrence
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1972
 
61,118

 
100.0
%
 
1,294

 
21.17

 
—
 
Advance Auto Parts
 
 
327

 
Shops at Seneca Mall
 
Liverpool
 
NY
 
Syracuse, NY
 
2005
 
230,924

 
66.7
%
 
734

 
4.76

 
—
 
Big Lots, Kmart
 
Raymour & Flanigan
328

 
Mamaroneck Centre
 
Mamaroneck
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1976
 
24,978

 
49.0
%
 
514

 
42.02

 
—
 
CVS
 
 
329

 
Sunshine Square
 
Medford
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2007
 
223,322

 
90.9
%
 
2,735

 
13.48

 
Super Stop & Shop (Ahold)
 
Planet Fitness
 
 
330

 
Wallkill Plaza
 
Middletown
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1986
 
209,960

 
95.5
%
 
2,002

 
10.30

 
—
 
Ashley Furniture, Big Lots, Citi Trends, Hobby Lobby
 
 
331

 
Monroe ShopRite Plaza
 
Monroe
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1985
 
122,007

 
100.0
%
 
1,887

 
15.47

 
ShopRite
 
Retro Fitness, Rite Aid, U.S. Post Office
 
 
332

 
Rockland Plaza
 
Nanuet
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2006
 
251,537

 
100.0
%
 
6,634

 
26.37

 
A Matter of Health
 
Barnes & Noble, Lemon Pop, Marshalls, Modell's Sporting Goods, Petco
 
 
333

 
North Ridge Shopping Center
 
New Rochelle
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1971
 
31,870

 
96.8
%
 
1,294

 
41.96

 
—
 
Harmon Discount
 
 
334

 
Nesconset Shopping Center
 
Port Jefferson Station
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1961
 
122,996

 
95.9
%
 
2,443

 
20.70

 
—
 
Dollar Tree, HomeGoods
 
 
335

 
Port Washington
 
Port Washington
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1968
 
19,600

 
100.0
%
 
112

 
5.71

 
North Shore Farms
 
—
 
 
336

 
Roanoke Plaza
 
Riverhead
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2002
 
99,131

 
98.9
%
 
1,777

 
18.13

 
Best Yet Market
 
CVS, T.J.Maxx
 
 
337

 
Rockville Centre
 
Rockville Centre
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1975
 
44,131

 
94.3
%
 
1,095

 
26.30

 
—
 
HomeGoods, Rite Aid
 
 
338

 
Mohawk Acres Plaza
 
Rome
 
NY
 
Utica-Rome, NY
 
2005
 
156,680

 
85.1
%
 
1,360

 
21.48

 
Price Chopper
 
Family Dollar
 
 
339

 
College Plaza
 
Selden
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2013
 
180,182

 
95.6
%
 
3,006

 
17.92

 
ShopRite
 
A.C. Moore, Blink Fitness (Equinox), Bob's Stores
 
 
340

 
Campus Plaza
 
Vestal
 
NY
 
Binghamton, NY
 
2003
 
160,744

 
98.4
%
 
1,834

 
11.59

 
—
 
Olum's Furniture & Appliances, Rite Aid, Staples
 
 
341

 
Parkway Plaza
 
Vestal
 
NY
 
Binghamton, NY
 
1995
 
204,954

 
100.0
%
 
2,119

 
10.34

 
PriceRite (Wakefern)
 
Bed Bath & Beyond, Kohl's, PetSmart, Target
 
Target
342

 
Shoppes at Vestal
 
Vestal
 
NY
 
Binghamton, NY
 
2000
 
92,328

 
100.0
%
 
1,445

 
15.65

 
—
 
HomeGoods, Michaels, Old Navy
 
 
343

 
Town Square Mall
 
Vestal
 
NY
 
Binghamton, NY
 
1991
 
293,181

 
99.4
%
 
4,682

 
16.07

 
Sam's Club*, Walmart Supercenter*
 
A.C. Moore, AMC Cinemas, Barnes & Noble, Dick's Sporting Goods, DSW, T.J.Maxx, Ulta
 
 
344

 
The Plaza at Salmon Run
 
Watertown
 
NY
 
Watertown-Fort Drum, NY
 
1993
 
68,761

 
94.1
%
 
707

 
10.92

 
Hannaford Bros. (Delhaize)
 
Lowes, Pier 1 Imports
 
 
345

 
Highridge Plaza
 
Yonkers
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1977
 
88,501

 
94.5
%
 
2,226

 
26.62

 
H-Mart
 
—
 
 
346

 
Brunswick Town Center
 
Brunswick
 
OH
 
Cleveland-Elyria, OH
 
2004
 
138,407

 
94.5
%
 
1,833

 
14.02

 
Giant Eagle
 
—
 
The Home Depot

Supplemental Disclosure - Three Months Ended December 31, 2016
Page 45
jpgstandardlogoa17.jpg




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
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
347

 
30th Street Plaza
 
Canton
 
OH
 
Canton-Massillon, OH
 
1999
 
157,055

 
87.7
%
 
1,468

 
10.66

 
Giant Eagle, Marc's
 
—
 
 
348

 
Brentwood Plaza
 
Cincinnati
 
OH
 
Cincinnati, OH-KY-IN
 
2004
 
222,174

 
94.4
%
 
2,209

 
16.62

 
Kroger
 
Mattress Express, Petco, Planet Fitness
 
 
349

 
Delhi Shopping Center
 
Cincinnati
 
OH
 
Cincinnati, OH-KY-IN
 
1973
 
164,750

 
96.8
%
 
1,393

 
8.74

 
Kroger
 
Pet Supplies Plus
 
 
350

 
Harpers Station
 
Cincinnati
 
OH
 
Cincinnati, OH-KY-IN
 
1994
 
252,233

 
98.5
%
 
3,447

 
13.87

 
Fresh Thyme Farmers Market
 
HomeGoods, LA Fitness, Pet Supplies Plus, Stein Mart, T.J.Maxx
 
 
351

 
Western Hills Plaza
 
Cincinnati
 
OH
 
Cincinnati, OH-KY-IN
 
1954
 
316,154

 
99.1
%
 
3,844

 
12.61

 
—
 
Bed Bath & Beyond, Michaels, Sears, Staples, T.J.Maxx
 
Target
352

 
Western Village
 
Cincinnati
 
OH
 
Cincinnati, OH-KY-IN
 
2005
 
115,116

 
93.8
%
 
943

 
30.08

 
Kroger
 
—
 
 
353

 
Crown Point
 
Columbus
 
OH
 
Columbus, OH
 
1980
 
144,931

 
94.8
%
 
1,356

 
9.87

 
Kroger
 
Dollar Tree, Planet Fitness
 
 
354

 
Greentree Shopping Center
 
Columbus
 
OH
 
Columbus, OH
 
2005
 
130,773

 
84.8
%
 
1,144

 
11.12

 
Kroger
 
—
 
 
355

 
Brandt Pike Place
 
Dayton
 
OH
 
Dayton, OH
 
2008
 
17,900

 
88.8
%
 
151

 
9.50

 
Kroger*
 
—
 
 
356

 
South Towne Centre
 
Dayton
 
OH
 
Dayton, OH
 
1972
 
333,998

 
100.0
%
 
4,395

 
14.10

 
Health Foods Unlimited
 
Burlington Stores, Christmas Tree Shops, Jo-Ann Fabric & Craft Stores, Party City, Petsmart, Value City Furniture
 
 
357

 
The Vineyards
 
Eastlake
 
OH
 
Cleveland-Elyria, OH
 
1989
 
144,820

 
90.9
%
 
733

 
5.57

 
—
 
Dollar Tree, Harbor Freight Tools
 
 
358

 
Southland Shopping Center
 
Middleburg Heights
OH
 
Cleveland-Elyria, OH
 
1951
 
695,261

 
96.4
%
 
6,717

 
10.07

 
BJ's Wholesale Club, Giant Eagle, Marc's
 
Aspire Fitness, Burlington Stores, Cleveland Furniture Bank, Jo-Ann Fabric & Craft Stores, Marshalls, Party City
 
 
359

 
The Shoppes at North Olmsted
 
North Olmsted
 
OH
 
Cleveland-Elyria, OH
 
2002
 
70,003

 
98.2
%
 
1,037

 
15.09

 
—
 
Ollie's Bargain Outlet, Sears Outlet
 
 
360

 
The Shoppes at North Ridgeville
 
North Ridgeville
 
OH
 
Cleveland-Elyria, OH
 
2002
 
59,852

 
98.0
%
 
873

 
14.88

 
—
 
Pat Catan's Craft Centers
 
 
361

 
Surrey Square Mall
 
Norwood
 
OH
 
Cincinnati, OH-KY-IN
 
2010
 
175,167

 
96.8
%
 
2,163

 
25.35

 
Kroger
 
Marshalls
 
 
362

 
Market Place
 
Piqua
 
OH
 
Dayton, OH
 
1972
 
182,487

 
93.9
%
 
702

 
7.21

 
Kroger
 
Roses
 
 
363

 
Brice Park
 
Reynoldsburg
 
OH
 
Columbus, OH
 
1989
 
158,565

 
85.8
%
 
1,193

 
9.58

 
—
 
Ashley Furniture, Citi Trends, Michaels
 
 
364

 
Streetsboro Crossing
 
Streetsboro
 
OH
 
Akron, OH
 
2002
 
89,436

 
100.0
%
 
685

 
7.66

 
Giant Eagle
 
—
 
Lowe's, Target
365

 
Miracle Mile Shopping Plaza
 
Toledo
 
OH
 
Toledo, OH
 
1955
 
315,515

 
82.3
%
 
1,971

 
12.84

 
Kroger
 
Aspire Fitness, Big Lots, Harbor Freight Tools
 
 
366

 
Southland Shopping Plaza
 
Toledo
 
OH
 
Toledo, OH
 
1988
 
290,892

 
85.2
%
 
1,543

 
6.23

 
Kroger
 
Big Lots, Planet Fitness, Shopper's World
 
 
367

 
Wadsworth Crossings
 
Wadsworth
 
OH
 
Cleveland-Elyria, OH
 
2005
 
115,097

 
97.4
%
 
1,864

 
16.62

 
—
 
Bed Bath & Beyond, MC Sports, OfficeMax, Petco
 
Kohl's, Lowe's, Target
368

 
Northgate Plaza
 
Westerville
 
OH
 
Columbus, OH
 
2008
 
15,219

 
100.0
%
 
248

 
16.30

 
Kroger*
 
—
 
The Home Depot
369

 
Marketplace
 
Tulsa
 
OK
 
Tulsa, OK
 
1992
 
186,851

 
100.0
%
 
1,792

 
9.59

 
—
 
Conn's, Drysdales Western Wear, PetSmart
 
Best Buy, JC Penney Home Store
370

 
Village West
 
Allentown
 
PA
 
Allentown-Bethlehem-Easton, PA-NJ
 
1999
 
140,474

 
98.8
%
 
2,583

 
18.60

 
Giant Food (Ahold)
 
CVS
 
 
371

 
Park Hills Plaza
 
Altoona
 
PA
 
Altoona, PA
 
1985
 
278,586

 
79.7
%
 
1,957

 
8.81

 
Weis Markets
 
A.C. Moore, Dunham's Sports, Shoe Carnival, Toys"R"Us
 
 
372

 
Bensalem Square
 
Bensalem
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1986
 
70,378

 
100.0
%
 
745

 
10.59

 
Redner's Warehouse Market
 
—
 
 
373

 
Bethel Park Shopping Center
 
Bethel Park
 
PA
 
Pittsburgh, PA
 
1965
 
199,079

 
100.0
%
 
1,914

 
10.66

 
Giant Eagle
 
Walmart
 
 
374

 
Bethlehem Square
 
Bethlehem
 
PA
 
Allentown-Bethlehem-Easton, PA-NJ
 
1994
 
389,450

 
100.0
%
 
3,907

 
15.11

 
Giant Food (Ahold)
 
T.J.Maxx, The Home Depot, Walmart
 
 
375

 
Lehigh Shopping Center
 
Bethlehem
 
PA
 
Allentown-Bethlehem-Easton, PA-NJ
 
1955
 
378,358

 
97.3
%
 
3,373

 
11.48

 
Giant Food (Ahold)
 
Big Lots, Mega Marshalls, PetSmart, Rite Aid, Staples, Wells Fargo
 
 
376

 
Bristol Park
 
Bristol
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1993
 
283,153

 
95.2
%
 
2,316

 
8.59

 
Walmart Supercenter
 
—
 
 
377

 
Chalfont Village Shopping Center
 
Chalfont
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1989
 
46,051

 
77.7
%
 
428

 
11.96

 
—
 
—
 
 
378

 
New Britain Village Square
 
Chalfont
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1989
 
143,716

 
95.4
%
 
2,426

 
17.69

 
Giant Food (Ahold)
 
Tuesday Morning
 
 
379

 
Collegeville Shopping Center
 
Collegeville
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2017
 
110,696

 
64.2
%
 
915

 
12.88

 
Kimberton Whole Foods
 
Pep Boys, Rascal Fitness
 
 
380

 
Whitemarsh Shopping Center
 
Conshohocken
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2002
 
67,476

 
100.0
%
 
1,491

 
22.10

 
Giant Food (Ahold)
 
Wine & Spirits Shoppe
 
 
381

 
Valley Fair
 
Devon
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2001
 
105,086

 
100.0
%
 
1,076

 
10.24

 
—
 
Chuck E. Cheese's, Mealey's Furniture
 
 
382

 
Dickson City Crossings
 
Dickson City
 
PA
 
Scranton--Wilkes-Barre--Hazleton, PA
 
1997
 
312,699

 
100.0
%
 
3,215

 
16.14

 
—
 
Dick's Sporting Goods, hhgregg, Party City, PetSmart, T.J.Maxx, The Home Depot
 
 
383

 
Dillsburg Shopping Center
 
Dillsburg
 
PA
 
York-Hanover, PA
 
1994
 
153,088

 
93.3
%
 
1,822

 
13.02

 
Giant Food (Ahold)
 
Rite Aid, Tractor Supply Co.
 
 
384

 
Barn Plaza
 
Doylestown
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2002
 
237,681

 
100.0
%
 
3,371

 
14.18

 
—
 
Kohl's, Marshalls, Regal Cinemas
 
 
385

 
Pilgrim Gardens
 
Drexel Hill
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1955
 
75,223

 
100.0
%
 
1,234

 
16.41

 
—
 
Dollar Tree, Ross Dress for Less
 
 
386

 
Gilbertsville Shopping Center
 
Gilbertsville
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2002
 
85,576

 
95.6
%
 
789

 
9.64

 
Weis Markets
 
Wine & Spirits
 
 
387

 
Mount Carmel Plaza
 
Glenside
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1975
 
14,504

 
94.1
%
 
184

 
13.48

 
—
 
SGS Paper
 
 
388

 
Kline Plaza
 
Harrisburg
 
PA
 
Harrisburg-Carlisle, PA
 
1952
 
214,628

 
89.5
%
 
1,786

 
9.29

 
Giant Food (Ahold)
 
Citi Trends
 
 
389

 
New Garden Center
 
Kennett Square
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1979
 
144,920

 
96.2
%
 
1,025

 
7.51

 
—
 
Big Lots, Ollie's Bargain Outlet
 
 
390

 
Stone Mill Plaza
 
Lancaster
 
PA
 
Lancaster, PA
 
2008
 
106,736

 
99.3
%
 
1,284

 
12.12

 
Giant Food (Ahold)
 
—
 
 
391

 
Woodbourne Square
 
Langhorne
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1984
 
29,821

 
93.3
%
 
582

 
20.92

 
—
 
—
 
 
392

 
North Penn Market Place
 
Lansdale
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1977
 
58,358

 
73.2
%
 
837

 
21.40

 
Weis Markets*
 
—
 
 
393

 
New Holland Shopping Center
 
New Holland
 
PA
 
Lancaster, PA
 
1995
 
65,878

 
95.2
%
 
515

 
8.22

 
Grocery Outlet
 
Family Dollar
 
 
394

 
Village at Newtown
 
Newtown
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1989
 
176,952

 
84.6
%
 
3,789

 
25.30

 
McCaffrey's
 
Pier 1 Imports
 
 
395

 
Cherry Square
 
Northampton
 
PA
 
Allentown-Bethlehem-Easton, PA-NJ
 
1989
 
75,005

 
96.3
%
 
728

 
10.08

 
Redner's Warehouse Market
 
—
 
 
396

 
Ivyridge
 
Philadelphia
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1963
 
106,353

 
96.1
%
 
2,469

 
24.15

 
—
 
Target, Wine & Spirits
 
 

Supplemental Disclosure - Three Months Ended December 31, 2016
Page 46
jpgstandardlogoa17.jpg




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
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
397

 
Roosevelt Mall
 
Philadelphia
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1964
 
561,863

 
98.3
%
 
7,979

 
33.32

 
—
 
Macy's, Modell's Sporting Goods, Ross Dress For Less
 
 
398

 
Shoppes at Valley Forge
 
Phoenixville
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2003
 
176,676

 
100.0
%
 
1,392

 
7.88

 
Redner's Warehouse Market
 
French Creek Outfitters, Staples
 
 
399

 
County Line Plaza
 
Souderton
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1971
 
154,758

 
100.0
%
 
1,549

 
10.40

 
ALDI
 
Planet Fitness, Rite Aid, VF Outlet
 
 
400

 
69th Street Plaza
 
Upper Darby
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1994
 
41,711

 
100.0
%
 
412

 
9.88

 
Fresh Grocer (Wakefern)*
 
EZ Bargains, Rent-A-Center, Super Dollar City
 
 
401

 
Warminster Towne Center
 
Warminster
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1997
 
237,152

 
100.0
%
 
3,417

 
15.63

 
ShopRite
 
A.C. Moore, Kohls, Modell's Sporting Goods, Old Navy, Party City, PetSmart, Ross Dress for Less
 
 
402

 
Shops at Prospect
 
West Hempfield
 
PA
 
Lancaster, PA
 
1994
 
63,392

 
100.0
%
 
728

 
11.48

 
Musser's Markets
 
Hallmark
 
Kmart
403

 
Whitehall Square
 
Whitehall
 
PA
 
Allentown-Bethlehem-Easton, PA-NJ
 
2006
 
315,192

 
79.2
%
 
2,863

 
11.47

 
Redner's Warehouse Market
 
Mealey's Furniture, PetSmart, Ross Dress for Less, Staples
 
 
404

 
Wilkes-Barre Township Marketplace
Wilkes-Barre
 
PA
 
Scranton--Wilkes-Barre--Hazleton, PA
 
2004
 
307,610

 
95.3
%
 
2,065

 
29.31

 
Walmart Supercenter
 
Party City, Shoe Carnival
 
 
405

 
Hunt River Commons
 
North Kingstown
 
RI
 
Providence-Warwick, RI-MA
 
1989
 
148,126

 
83.8
%
 
1,356

 
10.92

 
Super Stop & Shop (Ahold)
 
Marshalls, Planet Fitness
 
 
406

 
Belfair Towne Village
 
Bluffton
 
SC
 
Hilton Head Island-Bluffton-Beaufort, SC
 
2006
 
165,039

 
93.7
%
 
2,238

 
14.47

 
Kroger
 
Stein Mart
 
 
407

 
Milestone Plaza
 
Greenville
 
SC
 
Greenville-Anderson-Mauldin, SC
 
1995
 
89,721

 
100.0
%
 
1,573

 
17.53

 
BI-LO (Southeastern Grocers)
 
—
 
 
408

 
Circle Center
 
Hilton Head
 
SC
 
Hilton Head Island-Bluffton-Beaufort, SC
 
2000
 
65,313

 
98.2
%
 
813

 
12.68

 
BI-LO (Southeastern Grocers)
 
—
 
 
409

 
Island Plaza
 
James Island
 
SC
 
Charleston-North Charleston, SC
 
1994
 
171,224

 
100.0
%
 
1,379

 
8.37

 
Food Lion (Delhaize)
 
Dollar Tree, Gold's Gym, Tuesday Morning
 
 
410

 
Festival Centre
 
North Charleston
 
SC
 
Charleston-North Charleston, SC
 
1987
 
325,347

 
75.2
%
 
2,082

 
8.63

 
—
 
Gold's Gym, Intercontinental Hotels Group, New Spring Church, Sears Outlet
 
 
411

 
Remount Village Shopping Center
 
North Charleston
 
SC
 
Charleston-North Charleston, SC
 
1996
 
60,238

 
21.9
%
 
131

 
9.92

 
—
 
—
 
 
412

 
Fairview Corners I & II
 
Simpsonville
 
SC
 
Greenville-Anderson-Mauldin, SC
 
2003
 
131,002

 
99.0
%
 
1,904

 
14.68

 
—
 
Ross Dress for Less, T.J.Maxx
 
Target
413

 
Hillcrest Market Place
 
Spartanburg
 
SC
 
Spartanburg, SC
 
1965
 
360,277

 
88.4
%
 
3,503

 
11.57

 
Publix
 
Marshalls, NCG Cinemas, Office Depot, Petco, Ross Dress for Less, Stein Mart
 
 
414

 
Shoppes at Hickory Hollow
 
Antioch
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
1986
 
144,469

 
84.9
%
 
1,413

 
11.52

 
Kroger
 
Citi Trends
 
 
415

 
East Ridge Crossing
 
Chattanooga
 
TN
 
Chattanooga, TN-GA
 
1999
 
58,950

 
86.1
%
 
563

 
11.09

 
Food Lion (Delhaize)
 
—
 
 
416

 
Watson Glen Shopping Center
 
Franklin
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
1988
 
265,027

 
98.9
%
 
2,626

 
10.11

 
ALDI
 
At Home, Big Lots, Franklin Athletic Club, Trees n Trends
 
 
417

 
Williamson Square
 
Franklin
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
1988
 
331,386

 
97.8
%
 
3,279

 
10.12

 
—
 
Grace Church Nashville, Hard Knocks, Hobby Lobby, Planet Fitness, Skyzone, USA Baby
 
 
418

 
Greensboro Village
 
Gallatin
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
2005
 
70,203

 
95.3
%
 
973

 
14.54

 
Publix
 
—
 
 
419

 
Greeneville Commons
 
Greeneville
 
TN
 
Greeneville, TN
 
2002
 
228,618

 
96.6
%
 
1,634

 
12.40

 
—
 
Belk, Burkes Outlet, JC Penney, Kmart
 
 
420

 
Oakwood Commons
 
Hermitage
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
1989
 
267,558

 
92.5
%
 
2,793

 
11.44

 
Publix
 
Bed Bath & Beyond, Dollar Tree, Goody’s, PetSmart, Ross Dress for Less
 
 
421

 
Kimball Crossing
 
Kimball
 
TN
 
Chattanooga, TN-GA
 
2007
 
280,476

 
97.1
%
 
1,839

 
7.44

 
Walmart Supercenter
 
Goody's
 
Lowe's
422

 
Kingston Overlook
 
Knoxville
 
TN
 
Knoxville, TN
 
1996
 
122,536

 
100.0
%
 
1,092

 
9.15

 
—
 
Babies"R"Us, Badcock Home Furniture, Sears Outlet
 
 
423

 
Farrar Place
 
Manchester
 
TN
 
Tullahoma-Manchester, TN
 
1989
 
43,220

 
84.5
%
 
324

 
8.88

 
Food Lion (Delhaize)
 
—
 
 
424

 
The Commons at Wolfcreek
 
Memphis
 
TN
 
Memphis, TN-MS-AR
 
2014
 
660,013

 
90.0
%
 
8,765

 
15.23

 
—
 
Academy Sports + Outdoors, Best Buy, Big Lots, Dave & Busters, DSW, hhgregg, Office Depot, PetSmart, T.J.Maxx, Value City Furniture
 
Target, The Home Depot, Toys"R"Us
425

 
Georgetown Square
 
Murfreesboro
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
2003
 
114,117

 
85.4
%
 
1,130

 
11.59

 
Kroger
 
Aaron's
 
 
426

 
Nashboro Village
 
Nashville
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
1998
 
86,811

 
98.2
%
 
1,015

 
11.91

 
Kroger
 
—
 
Walgreens
427

 
Commerce Central
 
Tullahoma
 
TN
 
Tullahoma-Manchester, TN
 
1995
 
182,401

 
98.3
%
 
1,243

 
6.93

 
Walmart Supercenter
 
Dollar Tree
 
 
428

 
Merchant's Central
 
Winchester
 
TN
 
Tullahoma-Manchester, TN
 
1997
 
208,123

 
93.8
%
 
1,164

 
5.96

 
Walmart Supercenter
 
Goody's
 
 
429

 
Palm Plaza
 
Aransas
 
TX
 
Corpus Christi, TX
 
2002
 
50,475

 
86.4
%
 
285

 
7.96

 
—
 
Bealls (Stage Stores), Family Dollar
 
 
430

 
Bardin Place Center
 
Arlington
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1993
 
420,550

 
100.0
%
 
4,069

 
9.68

 
WinCo Foods
 
Hemispheres, Hobby Lobby, Ross Dress for Less
 
 
431

 
Parmer Crossing
 
Austin
 
TX
 
Austin-Round Rock, TX
 
1989
 
169,552

 
100.0
%
 
1,819

 
10.73

 
—
 
Big Lots, Dollar Tree, Harbor Freight Tools, Mega Furniture, Planet Fitness
 
Fry's Electronics
432

 
Baytown Shopping Center
 
Baytown
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1987
 
95,941

 
87.6
%
 
925

 
11.01

 
—
 
24 Hour Fitness
 
 
433

 
Cedar Bellaire
 
Bellaire
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1994
 
50,967

 
100.0
%
 
850

 
16.68

 
H-E-B
 
—
 
 
434

 
El Camino
 
Bellaire
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2008
 
71,651

 
100.0
%
 
647

 
9.03

 
El Ahorro Supermarket
 
Dollar Tree, Family Dollar
 
 
435

 
Bryan Square
 
Bryan
 
TX
 
College Station-Bryan, TX
 
2008
 
59,029

 
100.0
%
 
328

 
6.47

 
—
 
99 Cents Only, Citi Trends, Dollar Floor Store, Firestone
 
 
436

 
Townshire
 
Bryan
 
TX
 
College Station-Bryan, TX
 
2002
 
136,887

 
90.0
%
 
990

 
8.04

 
—
 
Tops Printing
 
 
437

 
Plantation Plaza
 
Clute
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1997
 
99,141

 
99.0
%
 
829

 
8.62

 
—
 
Walgreens
 
 
438

 
Central Station
 
College Station
 
TX
 
College Station-Bryan, TX
 
1976
 
176,847

 
96.0
%
 
2,630

 
15.87

 
—
 
OfficeMax, Spec's Liquors, Wally's Party Factory
 
Kohl's
439

 
Rock Prairie Crossing
 
College Station
 
TX
 
College Station-Bryan, TX
 
2002
 
118,700

 
100.0
%
 
1,376

 
26.14

 
Kroger
 
CVS
 
 
440

 
Carmel Village
 
Corpus Christi
 
TX
 
Corpus Christi, TX
 
1993
 
85,633

 
75.3
%
 
622

 
9.65

 
—
 
Bay Area Dialysis, Bealls (Stage Stores), Tuesday Morning
 
 
441

 
Five Points
 
Corpus Christi
 
TX
 
Corpus Christi, TX
 
1985
 
276,593

 
93.2
%
 
3,183

 
12.54

 
—
 
Bealls (Stage Stores), Burkes Outlet, Harbor Freight Tools, Hobby Lobby, Party City, Ross Dress for Less
 
 
442

 
Claremont Village
 
Dallas
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1976
 
66,980

 
97.3
%
 
524

 
8.13

 
Fiesta Mart
 
Family Dollar
 
 
443

 
Jeff Davis
 
Dallas
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1975
 
68,962

 
81.2
%
 
619

 
11.06

 
—
 
Family Dollar
 
 
444

 
Stevens Park Village
 
Dallas
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1974
 
45,492

 
100.0
%
 
441

 
9.69

 
—
 
Big Lots, O'Reilly Auto Parts
 
 

Supplemental Disclosure - Three Months Ended December 31, 2016
Page 47
jpgstandardlogoa17.jpg




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
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
445

 
Webb Royal Plaza
 
Dallas
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1961
 
108,545

 
100.0
%
 
1,099

 
10.57

 
El Rio Grande Latin Market
 
Family Dollar
 
 
446

 
Wynnewood Village
 
Dallas
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2006
 
443,681

 
87.8
%
 
4,024

 
10.46

 
El Rancho, Kroger
 
Fallas Paredes, Gen X Clothing, Ross Dress for Less
 
 
447

 
Parktown
 
Deer Park
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
121,163

 
97.1
%
 
1,020

 
8.67

 
Food Town
 
Burkes Outlet, Walgreens
 
 
448

 
Kenworthy Crossing
 
El Paso
 
TX
 
El Paso, TX
 
2003
 
74,393

 
96.4
%
 
736

 
10.27

 
Albertsons
 
—
 
 
449

 
Preston Ridge
 
Frisco
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2017
 
793,319

 
97.0
%
 
15,453

 
20.40

 
SuperTarget*
 
Best Buy, Big Lots, DSW, Old Navy, Marshalls, Nordstrom Rack, Ross Dress for Less, Saks OFF Fifth, Sheplers, Stein Mart, T.J.Maxx
 
 
450

 
Forest Hills Village
 
Ft. Worth
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1968
 
69,651

 
100.0
%
 
395

 
5.67

 
Foodland Markets
 
Family Dollar, Hi Style Fashion
 
 
451

 
Ridglea Plaza
 
Ft. Worth
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1990
 
170,519

 
100.0
%
 
1,930

 
11.66

 
Tom Thumb (Albertsons)
 
Stein Mart
 
 
452

 
Trinity Commons
 
Ft. Worth
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1998
 
197,423

 
100.0
%
 
3,862

 
19.56

 
Tom Thumb (Albertsons)
 
DSW
 
 
453

 
Village Plaza
 
Garland
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2002
 
89,241

 
100.0
%
 
1,024

 
11.48

 
Truong Nguyen Grocer
 
—
 
 
454

 
North Hills Village
 
Haltom City
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1998
 
43,299

 
85.8
%
 
272

 
7.32

 
—
 
Dollar Tree
 
 
455

 
Highland Village Town Center
 
Highland Village
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1996
 
99,341

 
92.1
%
 
981

 
10.72

 
—
 
—
 
 
456

 
Bay Forest
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2004
 
71,667

 
98.3
%
 
754

 
10.70

 
Kroger
 
—
 
 
457

 
Beltway South
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1998
 
107,174

 
97.0
%
 
959

 
28.33

 
Kroger
 
—
 
 
458

 
Braes Heights
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2003
 
94,086

 
89.7
%
 
1,892

 
22.41

 
—
 
CVS, Imagination Toys, I W Marks Jewelers
 
 
459

 
Braes Link
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
30,189

 
100.0
%
 
555

 
18.38

 
—
 
Walgreens
 
 
460

 
Braes Oaks Center
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1992
 
45,067

 
88.6
%
 
431

 
10.79

 
H-E-B
 
—
 
 
461

 
Braesgate
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1997
 
91,382

 
94.6
%
 
558

 
6.45

 
Food Town
 
—
 
 
462

 
Broadway
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2006
 
74,717

 
100.0
%
 
772

 
10.74

 
El Ahorro Supermarket
 
Fallas Paredes, Melrose Fashions
 
 
463

 
Clear Lake Camino South
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1964
 
105,178

 
94.4
%
 
1,432

 
15.41

 
ALDI
 
24 Hour Fitness, Mr. Gatti's Pizza, Spec's Liquors
 
 
464

 
Hearthstone Corners
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1998
 
208,147

 
93.8
%
 
1,842

 
9.43

 
Kroger
 
Big Lots, Stein Mart
 
 
465

 
Jester Village
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1988
 
64,285

 
77.4
%
 
502

 
10.09

 
H-E-B
 
—
 
 
466

 
Jones Plaza
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2000
 
111,206

 
66.9
%
 
759

 
10.21

 
—
 
Fitness Connection
 
 
467

 
Jones Square
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
169,003

 
98.7
%
 
1,244

 
7.56

 
—
 
Big Lots, Hobby Lobby
 
 
468

 
Maplewood Mall
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2004
 
93,711

 
98.1
%
 
766

 
8.33

 
Foodarama
 
Burke's Outlet
 
 
469

 
Merchants Park
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2009
 
243,798

 
100.0
%
 
3,359

 
13.78

 
Kroger
 
Big Lots, Petco, Ross Dress for Less, Tuesday Morning
 
 
470

 
Northgate
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1972
 
40,244

 
100.0
%
 
309

 
7.68

 
—
 
Affordable Furniture, Firestone, Lumber Liquidators, TitleMax
 
 
471

 
Northshore
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2001
 
230,779

 
87.7
%
 
2,623

 
13.18

 
Sellers Bros.
 
Conn's, Office Depot
 
 
472

 
Northtown Plaza
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1960
 
190,559

 
88.7
%
 
1,921

 
11.52

 
—
 
99 Cents Only, CVS, dd's Discounts (Ross), Fallas Paredes
 
 
473

 
Northwood Plaza
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1972
 
136,747

 
93.1
%
 
1,438

 
11.49

 
Food City
 
—
 
 
474

 
Orange Grove
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2005
 
189,201

 
94.1
%
 
1,774

 
10.11

 
—
 
24 Hour Fitness, FAMSA, Floor & Décor
 
 
475

 
Pinemont Shopping Center
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
73,577

 
92.9
%
 
911

 
13.64

 
—
 
Family Dollar, Houston Community College
 
 
476

 
Royal Oaks Village
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2001
 
145,229

 
97.8
%
 
3,114

 
21.93

 
H-E-B
 
—
 
 
477

 
Tanglewilde Center
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1998
 
82,565

 
100.0
%
 
1,140

 
13.93

 
—
 
Ace Hardware, Dollar Tree, Party City, Salon In The Park
 
 
478

 
Westheimer Commons
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1984
 
242,409

 
94.4
%
 
2,117

 
9.25

 
Fiesta Mart
 
Marshalls
 
 
479

 
Fry Road Crossing
 
Katy
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2005
 
237,340

 
100.0
%
 
2,483

 
10.55

 
Kroger
 
Hobby Lobby, Palais Royal, Stein Mart
 
 
480

 
Washington Square
 
Kaufman
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1978
 
64,230

 
82.7
%
 
344

 
6.48

 
—
 
AutoZone, Bealls (Stage Stores), Dollar Tree
 
 
481

 
Jefferson Park
 
Mount Pleasant
 
TX
 
Mount Pleasant, TX
 
2001
 
132,096

 
94.7
%
 
870

 
7.07

 
Super 1 Foods
 
Harbor Freight Tools, PetSense
 
 
482

 
Winwood Town Center
 
Odessa
 
TX
 
Odessa, TX
 
2002
 
365,559

 
100.0
%
 
2,827

 
12.38

 
H-E-B
 
Office Depot, Ross Dress for Less, Target
 
 
483

 
Crossroads Centre - Pasadena
 
Pasadena
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1997
 
134,006

 
77.8
%
 
1,277

 
13.38

 
Kroger
 
—
 
 
484

 
Spencer Square
 
Pasadena
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1998
 
194,470

 
93.5
%
 
2,201

 
12.11

 
Kroger
 
Burkes Outlet
 
 
485

 
Pearland Plaza
 
Pearland
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1995
 
156,491

 
81.6
%
 
1,140

 
8.93

 
Kroger
 
Goodwill Select Store, Harbor Freight Tools, Walgreens
 
 
486

 
Market Plaza
 
Plano
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2002
 
167,804

 
71.6
%
 
2,719

 
23.70

 
Central Market (H-E-B)
 
—
 
 
487

 
Preston Park
 
Plano
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1985
 
239,103

 
92.2
%
 
5,949

 
27.00

 
Kroger
 
—
 
 
488

 
Northshore Plaza
 
Portland
 
TX
 
Corpus Christi, TX
 
2000
 
152,144

 
98.4
%
 
1,024

 
13.65

 
H-E-B
 
Bealls (Stage Stores)
 
Kmart
489

 
Klein Square
 
Spring
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
80,636

 
94.7
%
 
799

 
10.46

 
Food Town
 
Family Dollar, Petco
 
 
490

 
Keegan's Meadow
 
Stafford
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
125,293

 
90.7
%
 
1,196

 
10.86

 
Randalls (Albertsons)
 
Palais Royal
 
 
491

 
Texas City Bay
 
Texas City
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2005
 
223,152

 
53.9
%
 
1,170

 
9.79

 
Kroger
 
—
 
 
492

 
Windvale Center
 
The Woodlands
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2002
 
101,088

 
91.5
%
 
991

 
28.20

 
Randalls (Albertsons)
 
—
 
 
493

 
The Centre at Navarro
 
Victoria
 
TX
 
Victoria, TX
 
2005
 
66,102

 
56.3
%
 
445

 
23.35

 
ALDI
 
Walgreens
 
 
494

 
Spradlin Farm
 
Christiansburg
 
VA
 
Blacksburg-Christiansburg-Radford, VA
 
2000
 
180,220

 
100.0
%
 
2,657

 
14.99

 
—
 
Barnes & Noble, Big Lots, Michaels, Petco, T.J.Maxx
 
Target, The Home Depot
495

 
Culpeper Town Square
 
Culpeper
 
VA
 
Washington-Arlington-Alexandria, DC-VA-MD-WV
1999
 
132,882

 
99.0
%
 
1,150

 
8.74

 
Food Lion (Weis Markets)
 
Mountain Run Bowling, Tractor Supply Co.
 
 
496

 
Hanover Square
 
Mechanicsville
 
VA
 
Richmond, VA
 
1991
 
129,887

 
58.0
%
 
1,249

 
16.59

 
—
 
Gold's Gym
 
Kohl's

Supplemental Disclosure - Three Months Ended December 31, 2016
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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
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
497

 
Jefferson Green
 
Newport News
 
VA
 
Virginia Beach-Norfolk-Newport News, VA-NC
 
1988
 
54,945

 
91.3
%
 
773

 
15.41

 
—
 
DXL Destination XL, Once Upon a Child, Tuesday Morning
 
 
498

 
Tuckernuck Square
 
Richmond
 
VA
 
Richmond, VA
 
1981
 
86,010

 
92.9
%
 
1,243

 
15.56

 
—
 
2nd & Charles, Chuck E. Cheese's
 
 
499

 
Cave Spring Corners
 
Roanoke
 
VA
 
Roanoke, VA
 
2005
 
147,133

 
100.0
%
 
1,171

 
13.27

 
Kroger
 
Hamrick's
 
 
500

 
Hunting Hills
 
Roanoke
 
VA
 
Roanoke, VA
 
1989
 
166,207

 
98.2
%
 
1,411

 
8.65

 
—
 
Kohl's, PetSmart
 
 
501

 
Valley Commons
 
Salem
 
VA
 
Roanoke, VA
 
1988
 
45,580

 
20.4
%
 
91

 
9.79

 
—
 
—
 
 
502

 
Lake Drive Plaza
 
Vinton
 
VA
 
Roanoke, VA
 
2008
 
163,090

 
100.0
%
 
1,308

 
8.02

 
Kroger
 
Big Lots, Goodwill
 
 
503

 
Hilltop Plaza
 
Virginia Beach
 
VA
 
Virginia Beach-Norfolk-Newport News, VA-NC
 
2010
 
150,312

 
100.0
%
 
2,584

 
17.36

 
Trader Joe's
 
Jo-Ann Fabric & Craft Stores, Kirkland’s, Office Depot, PetSmart
 
 
504

 
Ridgeview Centre
 
Wise
 
VA
 
Big Stone Gap, VA
 
1990
 
190,242

 
67.6
%
 
987

 
7.68

 
—
 
Grand Home Furnishings, Harbor Freight Tools, Ollie's Bargain Outlet
 
Belk
505

 
Rutland Plaza
 
Rutland
 
VT
 
Rutland, VT
 
1997
 
224,514

 
98.6
%
 
1,970

 
8.90

 
Price Chopper
 
Flagship Cinemas, T.J.Maxx, Walmart
 
 
506

 
Fitchburg Ridge Shopping Center
 
Fitchburg
 
WI
 
Madison, WI
 
2003
 
50,555

 
83.6
%
 
511

 
12.08

 
—
 
Wisconsin Dialysis
 
 
507

 
Spring Mall
 
Greenfield
 
WI
 
Milwaukee-Waukesha-West Allis, WI
 
2003
 
188,861

 
83.5
%
 
1,179

 
7.48

 
—
 
T.J.Maxx
 
 
508

 
Mequon Pavilions
 
Mequon
 
WI
 
Milwaukee-Waukesha-West Allis, WI
 
1967
 
219,618

 
89.3
%
 
3,119

 
15.91

 
Sendik's Food Market
 
Bed Bath & Beyond, DSW, Marshalls
 
 
509

 
Moorland Square Shopping Ctr
 
New Berlin
 
WI
 
Milwaukee-Waukesha-West Allis, WI
 
1990
 
98,303

 
91.3
%
 
857

 
9.55

 
Pick 'n Save (Kroger)
 
—
 
 
510

 
Paradise Pavilion
 
West Bend
 
WI
 
Milwaukee-Waukesha-West Allis, WI
 
2000
 
203,545

 
98.7
%
 
1,527

 
7.60

 
—
 
Hobby Lobby, Kohl's
 
ShopKo
511

 
Moundsville Plaza
 
Moundsville
 
WV
 
Wheeling, WV-OH
 
2004
 
176,156

 
98.3
%
 
1,250

 
7.22

 
Kroger
 
Big Lots, Dunham's Sports, Peebles
 
 
512

 
Grand Central Plaza
 
Parkersburg
 
WV
 
Parkersburg-Vienna, WV
 
1986
 
75,344

 
100.0
%
 
801

 
10.63

 
—
 
Office Depot, O'Reilly Auto Parts, T.J.Maxx
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL PORTFOLIO
 
 
 
 
 
 
 
 
 
86,006,794

 
92.8
%
 
$
959,983

 
$
12.99

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) * Indicates grocer is not owned
 
 
 
 
 
 
 
 
 
 
 
 
 
 

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Page 49
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GUIDANCE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure
Three Months Ended December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





GUIDANCE & ADDITIONAL DISCLOSURES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2017 GUIDANCE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NAREIT FFO per diluted share
$2.05 - $2.12
 
 
 
 
 
 
 
Key Underlying Assumptions
 
 
 
 
 
 
 
 
 
Same property NOI growth
2.0 - 3.0%
 
 
 
 
 
 
 
 
Straight-line rental income, amortization of above- and below-market rent and tenant inducements and straight-line ground rent expense
$38 - $42M
 
 
 
 
 
 
 
 
General and administrative expenses (1)
$86 - $90M
 
 
 
 
 
 
 
 
GAAP interest expense
$224 - $230M
 
 
 
 
 
 
 
 
Value enhancing capital expenditures
$120 - $150M
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ADDITIONAL DISCLOSURES - as of 12/31/16 (dollars in millions, except per square foot amounts)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Leases signed but not yet commenced:
Leases
 
GLA
 
ABR
 
ABR/SF
 
 
 
 
≥ 10,000 SF
49
 
1,189,512
 
$
14.7

 
$
12.35

 
 
 
 
< 10,000 SF
278
 
846,460
 
16.9

 
20.01

 
 
 
 
TOTAL
327
 
2,035,972
 
$
31.6

 
$
15.53

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Does not include any expectations of additional one-time items, including, but not limited to, litigation and other non-routine legal expenses.
 
 
 
 
 
 
 
 
 
 
 
 
 
 





Supplemental Disclosure - Three Months Ended December 31, 2016
Page 51
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