Form: 8-K

Current report

Exhibit 99.2


cover3q18.jpg



 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SUPPLEMENTAL DISCLOSURE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





TABLE OF CONTENTS
 
 
 
 
 
 
 
 
 
 
 
 
Page
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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, 2017 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 September 30, 2018
 
jpgstandardlogoa21.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 of expenses, such as operating costs, real estate taxes and insurance expenses, (ii) excludes percentage
 
 
 
 
rent and ancillary income, and (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.
 
 
 
 
 
 
 
 
 
 
 
 
ABR PSF
 
ABR divided by leased GLA, excluding the GLA of lessee owned leasehold improvements.
 
 
 
 
 
 
 
 
Billed GLA
 
Aggregate GLA of all commenced leases, as of a specified date.
 
 
 
 
 
 
 
 
Development & Redevelopment
 
Development and redevelopment projects are deemed stabilized upon the earlier of (i) reaching approximately 90% billed occupancy or (ii) one year
 
 
Stabilization

 
after the property is placed in service.

 
 
 
 
 
 
 
 
EBITDA, EBITDAre, Adjusted EBITDA &
Supplemental, non-GAAP performance measures. Please see below for more information on the limitations of non-GAAP performance measures.
 
 
Cash Adjusted EBITDA

 
A reconciliation of net income to each of these measures is provided on page 7.
 
 
 
 
EBITDA is calculated as the sum of net income (loss) presented in accordance with GAAP before (i) interest expense, (ii) federal and state taxes, and
 
 
 
 
(iii) depreciation and amortization. EBITDAre represents EBITDA as adjusted for (i) gain (loss) on disposition of operating properties and (ii) impairment
 
 
 
 
of real estate assets and real estate equity investments. Adjusted EBITDA represents EBITDAre as adjusted for (i) gain (loss) on extinguishment of debt
 
 
 
and (ii) other items that the Company believes are not indicative of the Company's operating performance. Cash Adjusted EBITDA represents
 
 
 
 
Adjusted EBITDA as adjusted for (i) straight-line rental income, (ii) amortization of above- and below-market leases and tenant inducements, and (iii)
 
 
 
 
straight-line ground rent expense. EBITDA, EBITDAre, Adjusted EBITDA & Cash Adjusted EBITDA include the Company's unconsolidated joint venture,
 
 
 
 
which was sold on August 8, 2017, at pro rata share.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross Leasable Area ("GLA")
 
Represents the total amount of leasable property square footage.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Leased GLA
 
Aggregate GLA of all signed or commenced leases, as of a specified date.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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")
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) presented in accordance with GAAP excluding (i) gain (loss) on disposition of operating properties, (ii) gain (loss)
 
 
 
 
on disposition of unconsolidated joint venture interest, and (iii) extraordinary items, plus (iv) depreciation and amortization of operating properties,
 
 
 
 
(v) impairment of operating properties and real estate equity investments and (vi) after adjustments for unconsolidated joint ventures calculated to
 
 
 
 
reflect FFO on the same basis.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Effective Rent
 
Average ABR PSF over the lease term adjusted for tenant improvements and allowances, tenant specific landlord work and third party leasing
 
 
 
commissions.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Operating Income ("NOI")
 
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 (i) corporate level expenses (including G&A),
 
 
 
 
(ii) lease termination fees, (iii) straight-line rental income, (iv) amortization of above- and below-market leases and tenant inducements,
 
 
 
 
(v) straight-line ground rent expense and (vi) the Company's unconsolidated joint venture, which was sold on August 8, 2017.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NOI Yield
 
Calculated as the projected incremental NOI as a percentage of the incremental third party costs of a specified project, net of any project specific
 
 
 
 
credits (i.e. lease termination fees or other ancillary credits).
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 September
 
 
 
 
30, 2018, the Company, through its 100% ownership of BPG Subsidiary, Inc., owns 100% of the OP.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 a retail tenant of the shopping center and, as a result, attract
 
 
 
 
additional consumer traffic to the center.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outparcel
 
Refers to a portion of a shopping center, separate from the main retail buildings and generally located on the outer edge of a property, which may
 
 
 
 
currently, or in the future, contain one or several freestanding buildings.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent Billed
 
Billed GLA as a percentage of total GLA.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent Leased
 
Leased GLA as a percentage of total GLA.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PSF
 
Per square foot of GLA.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Redevelopment
 
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 the 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.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 all or a portion of 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.
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2018
Page 1
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GLOSSARY OF TERMS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Term
 
Definition
 
 
 
 
 
 
 
 
Option Rent Spread
 
Includes contractual 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
 
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 and completed development properties
 
 
 
 
which have been stabilized for less than one year. Same Property NOI excludes income or expense associated with the Company's captive insurance
 
 
 
 
entity.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of Properties in Same Property NOI Analysis:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
 
 
 
 
 
 
 
9/30/18
 
9/30/18
 
 
 
 
 
 
 
Total properties in Brixmor Property Group portfolio
 
445
 
445
 
 
 
 
 
 
 
 
Acquired properties excluded from same property NOI
 
(3)
 
(4)
 
 
 
 
 
 
 
 
Additional exclusions
 
(3)
 
(4)
 
 
 
 
 
 
 
 
Same property NOI pool
 
439
 
437
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
In process redevelopment properties (includes multi-phase projects)
(13)
 
(13)
 
 
 
 
 
 
 
 
Completed redevelopment properties
 
(6)
 
(6)
 
 
 
 
 
 
 
 
Total redevelopment properties
 
(19)
 
(19)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Same property NOI excluding redevelopments pool
 
420
 
418
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Small Shop Spaces
 
Spaces less than 10,000 SF of GLA.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Straight-line Rent
 
Non-cash revenue related to GAAP requirement to average a tenant's contractual base rent over the life of the lease, regardless of the actual cash
 
 
 
 
collected in the reporting 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 (presented 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 (presented 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
 
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 real estate equity investments, extraordinary items, and after adjustments
 
 
 
 
for joint ventures calculated to reflect FFO on the same basis, investors can compare the operating and financial performance of a company’s
 
 
 
 
real estate between periods.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  • EBITDA, EBITDAre, Adjusted
 
By excluding various items that the Company believes are not indicative of its operating performance, EBITDA, EBITDAre, Adjusted EBITDA & Cash
 
 
       EBITDA & Cash Adjusted EBITDA

 
Adjusted EBITDA provide a meaningful performance measure as it relates to the Company's ability to meet various coverage tests.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  • NOI and Same Property NOI
 
Same property NOI 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 operating performance of a company's real estate between periods.
 

Supplemental Disclosure - Three Months Ended September 30, 2018
Page 2
jpgstandardlogoa21.jpg


RESULTS OVERVIEW & GUIDANCE
 
 
 
 
Unaudited, dollars in thousands, except per share and per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
Summary Financial Results
 
9/30/18
 
9/30/17
 
9/30/18
 
9/30/17
 
 
 
 
Total revenues (page 6)
 
$ 306,480
 
$ 314,496
 
$ 936,685
 
$ 963,120
 
 
 
 
Net income attributable to common stockholders (page 6)
 
147,346
 
83,380
 
288,730
 
230,358
 
 
 
 
Net income attributable to common stockholders - per diluted share (page 6)
 
0.49
 
0.27
 
0.95
 
0.75
 
 
 
 
Adjusted EBITDA (page 7)
 
206,097
 
216,473
 
630,614
 
659,914
 
 
 
 
Cash Adjusted EBITDA (page 7)
 
196,010
 
207,141
 
600,568
 
624,085
 
 
 
 
NAREIT FFO (page 8)
 
128,413
 
157,246
 
437,504
 
480,676
 
 
 
 
NAREIT FFO per share/OP Unit - diluted (page 8)
 
0.42
 
0.52
 
1.44
 
1.58
 
 
 
 
 
Items that impact FFO comparability, net per share (page 8)
 
(0.07)
 
0.00
 
(0.07)
 
(0.01)
 
 
 
 
Dividends declared per share/OP Unit (page 8)
 
0.275
 
0.260
 
0.825
 
0.780
 
 
 
 
Share/OP Unit dividend payout ratio (as % of NAREIT FFO) (page 8)
 
64.2
 
50.4
 
56.9
 
49.5
 
 
 
 
NOI (page 10)
 
216,152
 
225,947
 
661,095
 
680,923
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Summary Operating and Financial Ratios
 
9/30/18
 
6/30/18
 
3/31/18
 
12/31/17
 
9/30/17
 
 
NOI margin (page 10)
 
73.1
 
73.6
 
72.7
 
74.1
 
74.6
 
 
Same property NOI growth (page 11) (1)
 
1.2
 
1.4
 
0.7
 
3.6
 
1.5
 
 
Fixed charge coverage (page 13)
 
3.5x
 
3.6x
 
3.5x
 
3.6x
 
3.5x
 
 
Net principal debt to Adjusted EBITDA (page 13) (2)
 
6.2x
 
6.4x
 
6.6x
 
6.4x
 
6.5x
 
 
Net principal debt to Cash Adjusted EBITDA (page 13) (2)
 
6.5x
 
6.7x
 
6.8x
 
6.8x
 
6.8x
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding Classes of Stock
 
As of 9/30/18
 
As of 6/30/18
 
As of 3/31/18
 
As of 12/31/17
 
As of 9/30/17
 
 
Common shares outstanding (page 13)
 
299,892
 
302,627
 
302,826
 
304,620
 
304,937
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Summary Portfolio Statistics (3)
 
As of 9/30/18
 
As of 6/30/18
 
As of 3/31/18
 
As of 12/31/17
 
As of 9/30/17
 
 
Number of properties (page 29)
 
445
 
471
 
480
 
486
 
498
 
 
Percent billed (page 29)
 
89.4
 
89.4
 
89.8
 
90.3
 
89.6
 
 
Percent leased (page 29)
 
92.5
 
92.5
 
92.1
 
92.2
 
91.6
 
 
ABR PSF (page 29)
 
$ 13.89
 
$ 13.73
 
$ 13.61
 
$ 13.47
 
$ 13.28
 
 
New lease rent spread (page 31)
 
39.7
 
28.7
 
36.7
 
42.7
 
20.7
 
 
New & renewal lease rent spread (page 31)
 
13.4
 
14.3
 
16.7
 
16.0
 
12.7
 
 
Total - new, renewal & option lease rent spread (page 31)
 
12.1
 
11.2
 
14.5
 
13.9
 
10.2
 
 
Total - new, renewal & option GLA (page 31)
 
3,135,370
 
3,396,474
 
2,745,080
 
2,918,966
 
3,419,078
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2018 Guidance
 
Current
 
Previous
(at 6/30/18)
 
Actual YTD
 
Previous NAREIT FFO guidance did not include the $0.07 loss on extinguishment of debt recognized during the three months ended September 30, 2018.
 
 
NAREIT FFO per diluted share (4)(5)
 
$1.89 - $1.94
 
$1.95 - $2.04
 
$ 1.44
 
 
 
Same property NOI growth
 
1.00% - 1.50%
 
1.00% - 1.50%
 
1.30
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Reflects same property NOI as reported for the specified period.
(2) For purposes of financial ratios, Adjusted EBITDA and Cash Adjusted EBITDA are annualized based on current quarter results.
(3) Reflects portfolio statistics as reported for the specified period.
(4) Does not include any expectations of additional loss on extinguishment of debt related to potential capital transactions or any expectations of additional one-time items, including, but not
limited to, litigation, investigative and other non-routine legal expenses.
(5) Includes prospective capital recycling.



Supplemental Disclosure - Three Months Ended September 30, 2018
Page 3
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FINANCIAL SUMMARY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure
Three Months Ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





CONSOLIDATED BALANCE SHEETS
 
 
 
 
Unaudited, dollars in thousands, except share information
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of
 
As of
 
 
 
 
 
 
9/30/18
 
12/31/17
 
Assets
 
 
 
 
 
 
Real estate
 
 
 
 
 
 
 
Land
 
$
1,845,114

 
$
1,984,309

 
 
 
Buildings and tenant improvements
 
7,614,385

 
8,063,871

 
 
 
Construction in progress
 
98,354

 
81,214

 
 
 
Lease intangibles
 
697,118

 
792,097

 
 
 
 
 
 
10,254,971

 
10,921,491

 
 
 
Accumulated depreciation and amortization
 
(2,358,782
)
 
(2,361,070
)
 
 
Real estate, net
 
7,896,189

 
8,560,421

 
 
Cash and cash equivalents
 
19,607

 
56,938

 
 
Restricted cash
 
45,412

 
53,839

 
 
Marketable securities
 
30,725

 
28,006

 
 
Receivables, net of allowance for doubtful accounts of $18,947 and $17,205
 
230,782

 
232,111

 
 
Deferred charges and prepaid expenses, net
 
150,232

 
147,508

 
 
Other assets
 
124,491

 
75,103

 
Total assets
 
$
8,497,438

 
$
9,153,926

 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
Debt obligations, net
 
$
5,106,708

 
$
5,676,238

 
 
Accounts payable, accrued expenses and other liabilities
 
516,468

 
569,340

 
Total liabilities
 
5,623,176

 
6,245,578

 
 
 
 
 
 
 
 
 
 
Equity
 
 
 
 
 
 
Common stock, $0.01 par value; authorized 3,000,000,000 shares;
 
 
 
 
 
 
 
305,118,890 and 304,947,144 shares issued and 299,891,880 and 304,620,186
 
 
 
 
 
 
 
shares outstanding
 
2,999

 
3,046

 
 
Additional paid-in capital
 
3,254,722

 
3,330,466

 
 
Accumulated other comprehensive income
 
27,121

 
24,211

 
 
Distributions in excess of net income
 
(410,580
)
 
(449,375
)
 
Total equity
 
2,874,262

 
2,908,348

 
Total liabilities and equity
 
$
8,497,438

 
$
9,153,926





Supplemental Disclosure - Three Months Ended September 30, 2018
Page 5
jpgstandardlogoa21.jpg




CONSOLIDATED STATEMENTS OF OPERATIONS
Unaudited, dollars in thousands, except per share amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
 
 
9/30/18
 
9/30/17
 
9/30/18
 
9/30/17
 
Revenues
 
 
 
 
 
 
 
 
 
Rental income
$
239,217

 
$
246,578

 
$
726,549

 
$
749,976

 
 
Expense reimbursements
66,348

 
66,489

 
204,589

 
206,718

 
 
Other revenues
915

 
1,429

 
5,547

 
6,426

 
Total revenues
306,480

 
314,496

 
936,685

 
963,120

 
 
 
 
 
 
 
 
 
 
 
 
 
Operating expenses
 
 
 
 
 
 
 
 
 
Operating costs
31,969

 
30,505

 
101,340

 
100,955

 
 
Real estate taxes
44,711

 
45,076

 
135,383

 
135,607

 
 
Depreciation and amortization
85,183

 
94,239

 
266,900

 
285,040

 
 
Provision for doubtful accounts
3,094

 
1,216

 
6,458

 
4,023

 
 
Impairment of real estate assets
16,372

 
11,065

 
44,201

 
27,383

 
 
General and administrative
21,209

 
22,838

 
64,955

 
67,043

 
Total operating expenses
202,538

 
204,939

 
619,237

 
620,051

 
 
 
 
 
 
 
 
 
 
 
 
 
Other income (expense)
 
 
 
 
 
 
 
 
 
Dividends and interest
156

 
76

 
356

 
234

 
 
Interest expense
(55,364
)
 
(57,410
)
 
(165,735
)
 
(170,584
)
 
 
Gain on sale of real estate assets
119,333

 
25,942

 
159,043

 
54,920

 
 
Gain (loss) on extinguishment of debt, net
(19,759
)
 
1,828

 
(20,182
)
 
488

 
 
Other
(962
)
 
(1,200
)
 
(2,200
)
 
(2,591
)
 
Total other income (expense)
43,404

 
(30,764
)
 
(28,718
)
 
(117,533
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Income before equity in income of unconsolidated joint venture
147,346

 
78,793

 
288,730

 
225,536

 
Equity in income of unconsolidated joint venture
—

 
31

 
—

 
381

 
Gain on disposition of unconsolidated joint venture interest
—

 
4,556

 
—

 
4,556

 
Net income
147,346

 
83,380

 
288,730

 
230,473

 
Net income attributable to non-controlling interests
—

 
—

 
—

 
(76
)
 
Net income attributable to Brixmor Property Group Inc.
147,346

 
83,380

 
288,730

 
230,397

 
Preferred stock dividends
—

 
—

 
—

 
(39
)
 
Net income attributable to common stockholders
$
147,346

 
$
83,380

 
$
288,730

 
$
230,358

 
 
 
 
 
 
 
 
 
 
 
 
 
Per common share:
 
 
 
 
 
 
 
 
 
Net income attributable to common stockholders:
 
 
 
 
 
 
 
 
 
 
Basic
$
0.49

 
$
0.27

 
$
0.95

 
$
0.76

 
 
 
Diluted
$
0.49

 
$
0.27

 
$
0.95

 
$
0.75

 
 
Weighted average shares:
 
 
 
 
 
 
 
 
 
 
Basic
302,170

 
304,936

 
303,031

 
304,810

 
 
 
Diluted
302,382

 
305,176

 
303,213

 
305,175





Supplemental Disclosure - Three Months Ended September 30, 2018
Page 6
jpgstandardlogoa21.jpg




EBITDA
 
 
 
 
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
9/30/18
 
9/30/17
 
9/30/18
 
9/30/17
 
 
 
 
 
 
 
 
 
 
 
Net income
$
147,346

 
$
83,380

 
$
288,730

 
$
230,473

 
 
Interest expense
55,364

 
57,410

 
165,735

 
170,584

 
 
Federal and state taxes
844

 
542

 
1,960

 
2,509

 
 
Depreciation and amortization - continuing operations
85,183

 
94,239

 
266,900

 
285,040

 
 
Depreciation and amortization - unconsolidated joint venture
—

 
—

 
—

 
56

 
EBITDA
288,737

 
235,571

 
723,325

 
688,662

 
 
Gain on disposition of operating properties
(119,333
)
 
(25,942
)
 
(159,043
)
 
(54,920
)
 
 
Gain on disposition of unconsolidated joint venture interest
—

 
(4,556
)
 
—

 
(4,556
)
 
 
Impairment of real estate assets
16,372

 
11,065

 
44,201

 
27,383

 
EBITDAre
$
185,776

 
$
216,138

 
$
608,483

 
$
656,569

 
 
 
 
 
 
 
 
 
 
 
EBITDAre
$
185,776

 
$
216,138

 
$
608,483

 
$
656,569

 
 
(Gain) loss on extinguishment of debt, net
19,759

 
(1,828
)
 
20,182

 
(488
)
 
 
Litigation and other non-routine legal expenses
467

 
1,959

 
1,655

 
3,629

 
 
Transaction expenses
95

 
204

 
294

 
204

 
 
Total adjustments
20,321

 
335

 
22,131

 
3,345

 
Adjusted EBITDA
$
206,097

 
$
216,473

 
$
630,614

 
$
659,914

 
 
 
 
 
 
 
 
 
 
 
Adjusted EBITDA
$
206,097

 
$
216,473

 
$
630,614

 
$
659,914

 
 
Straight-line rental income, net (1)
(5,015
)
 
(2,397
)
 
(11,896
)
 
(14,484
)
 
 
Amortization of above- and below-market leases and tenant inducements, net (2)
(5,112
)
 
(6,966
)
 
(18,250
)
 
(21,449
)
 
 
Straight-line ground rent expense (3)
40

 
31

 
100

 
104

 
 
Total adjustments
(10,087
)
 
(9,332
)
 
(30,046
)
 
(35,829
)
 
Cash Adjusted EBITDA
$
196,010

 
$
207,141

 
$
600,568

 
$
624,085

 
 
 
 
 
 
 
 
 
 
(1) Includes unconsolidated joint venture Montecito Marketplace straight-line rental expense, net of $4 and $2 at pro rata share for the three and nine months ended September 30, 2017,
respectively. Montecito Marketplace was sold on August 8, 2017.
(2) Includes unconsolidated joint venture Montecito Marketplace amortization of above- and below-market leases and tenant inducements, net of $2 and $15 at pro rata share for the three
and nine months ended September 30, 2017, respectively. Montecito Marketplace was sold on August 8, 2017.
(3) Straight-line ground rent expense is included in Operating costs on the Consolidated Statements of Operations.


Supplemental Disclosure - Three Months Ended September 30, 2018
Page 7
jpgstandardlogoa21.jpg




FUNDS FROM OPERATIONS (FFO)
 
 
 
 
Unaudited, dollars in thousands, except per share amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
 
9/30/18
 
9/30/17
 
9/30/18
 
9/30/17
 
 
 
 
 
 
 
 
 
 
 
 
Net income
$
147,346

 
$
83,380

 
$
288,730

 
$
230,473

 
 
Gain on disposition of operating properties
(119,333
)
 
(25,942
)
 
(159,043
)
 
(54,920
)
 
 
Gain on disposition of unconsolidated joint venture interest
—

 
(4,556
)
 
—

 
(4,556
)
 
 
Depreciation and amortization- real estate related- continuing operations
84,028

 
93,299

 
263,616

 
282,240

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

 
—

 
—

 
56

 
 
Impairment of operating properties
16,372

 
11,065

 
44,201

 
27,383

 
NAREIT FFO
$
128,413

 
$
157,246

 
$
437,504

 
$
480,676

 
 
 
 
 
 
 
 
 
 
 
 
NAREIT FFO per share/OP Unit - diluted
$
0.42

 
$
0.52

 
$
1.44

 
$
1.58

 
Weighted average shares/OP Units outstanding - basic and diluted
302,382

 
305,176

 
303,213

 
305,175

 
 
 
 
 
 
 
 
 
 
 
 
Items that impact FFO comparability
 
 
 
 
 
 
 
 
 
Gain (loss) on extinguishment of debt, net
$
(19,759
)
 
$
1,828

 
$
(20,182
)
 
$
488

 
 
Litigation and other non-routine legal expenses
(467
)
 
(1,959
)
 
(1,655
)
 
(3,629
)
 
 
Transaction expenses
(95
)
 
(204
)
 
(294
)
 
(204
)
 
Total items that impact FFO comparability
$
(20,321
)
 
$
(335
)
 
$
(22,131
)
 
$
(3,345
)
 
Items that impact FFO comparability, net per share
$
(0.07
)
 
$
(0.00
)
 
$
(0.07
)
 
$
(0.01
)
 
 
 
 
 
 
 
 
 
 
 
 
Additional Disclosures
 
 
 
 
 
 
 
 
 
Straight-line rental income, net (1)
$
5,015

 
$
2,397

 
$
11,896

 
$
14,484

 
 
Amortization of above- and below-market leases and tenant inducements, net (2)
5,112

 
6,966

 
18,250

 
21,449

 
 
Straight-line ground rent expense (3)
(40
)
 
(31
)
 
(100
)
 
(104
)
 
 
 
 
 
 
 
 
 
 
 
 
Dividends declared per share/OP Unit
$
0.275

 
$
0.260

 
$
0.825

 
$
0.780

 
Share/OP Unit dividends declared
$
82,470

 
$
79,283

 
$
248,970

 
$
237,839

 
Share/OP Unit dividend payout ratio (as % of NAREIT FFO)
64.2
%
 
50.4
%
 
56.9
%
 
49.5
%
 
 
 
 
 
 
 
 
 
 
 
(1) Includes unconsolidated joint venture Montecito Marketplace straight-line rental expense, net of $4 and $2 at pro rata share for the three and nine months ended September 30, 2017,
respectively. Montecito Marketplace was sold on August 8, 2017.
(2) Includes unconsolidated joint venture Montecito Marketplace amortization of above- and below-market leases and tenant inducements, net of $2 and $15 at pro rata share for the three
and nine months ended September 30, 2017, respectively. Montecito Marketplace was sold on August 8, 2017.
(3) Straight-line ground rent expense is included in Operating costs on the Consolidated Statements of Operations.






Supplemental Disclosure - Three Months Ended September 30, 2018
Page 8
jpgstandardlogoa21.jpg




SUPPLEMENTAL BALANCE SHEET DETAIL
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of
 
As of
 
 
 
 
9/30/18
 
12/31/17
 
 
 
 
 
 
 
 
Receivables, net
 
 
 
 
 
Straight-line rent receivable
$
125,762

 
$
118,972

 
 
Tenant receivables
93,745

 
95,447

 
 
Allowance for doubtful accounts
(18,947
)
 
(17,205
)
 
 
Insurance receivable (1)
27,461

 
28,000

 
 
Other
2,761

 
6,897

 
 
Total receivables, net
$
230,782

 
$
232,111

 
 
 
 
 
 
 
 
Deferred charges and prepaid expenses, net
 
 
 
 
 
Deferred charges, net
$
121,857

 
$
127,778

 
 
Prepaid expenses, net
28,375

 
19,730

 
 
Total deferred charges and prepaid expenses, net
$
150,232

 
$
147,508

 
 
 
 
 
 
 
 
Other assets
 
 
 
 
 
Real estate assets held for sale
$
80,326

 
$
27,081

 
 
Interest rate swaps
27,370

 
24,420

 
 
Furniture, fixtures and leasehold improvements, net
12,985

 
18,341

 
 
Other
3,810

 
5,261

 
 
Total other assets
$
124,491

 
$
75,103

 
 
 
 
 
 
 
 
Accounts payable, accrued expenses and other liabilities
 
 
 
 
 
Accounts payable and other accrued expenses
$
220,160

 
$
229,517

 
 
Below market leases, net
137,199

 
181,806

 
 
Dividends payable
84,646

 
85,597

 
 
Accrued litigation (1)
27,461

 
28,000

 
 
Other
47,002

 
44,420

 
 
Total accounts payable, accrued expenses and other liabilities
$
516,468

 
$
569,340

 
 
 
 
 
 
 
(1) In May 2017, the Company entered into a settlement agreement with respect to a class action lawsuit filed in March 2016.  In October 2018, the Company also entered into a settlement agreement with the remaining equity investors that opted out of the class action lawsuit with respect to a lawsuit filed by such equity opt out investors in June 2018. The aggregate agreed upon settlement amounts are within the coverage amount of the Company’s applicable insurance policies. For additional information, refer to Form 10-Q, filed with the Securities and Exchange Commission on October 29, 2018.

 


Supplemental Disclosure - Three Months Ended September 30, 2018
Page 9
jpgstandardlogoa21.jpg




NOI & SUPPLEMENTAL STATEMENT OF OPERATIONS DETAIL
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
 
9/30/18
 
9/30/17
 
9/30/18
 
9/30/17
 
Net Operating Income Detail (1)
 
 
 
 
 
 
 
 
 
Base rent
$
224,106

 
$
230,694

 
$
680,952

 
$
696,674

 
 
Ancillary and other
4,517

 
4,284

 
13,088

 
11,906

 
 
Expense reimbursements
66,348

 
66,489

 
204,589

 
206,718

 
 
Percentage rents
915

 
1,246

 
5,547

 
6,106

 
 
Operating costs
(31,929
)
 
(30,474
)
 
(101,240
)
 
(100,851
)
 
 
Real estate taxes
(44,711
)
 
(45,076
)
 
(135,383
)
 
(135,607
)
 
 
Provision for doubtful accounts
(3,094
)
 
(1,216
)
 
(6,458
)
 
(4,023
)
 
Net operating income
$
216,152

 
$
225,947

 
$
661,095

 
$
680,923

 
 
 
 
 
 
 
 
 
 
 
 
Operating Ratios
 
 
 
 
 
 
 
 
 
NOI margin (NOI / revenues)
73.1
%
 
74.6
%
 
73.1
%
 
73.9
%
 
 
Expense recovery ratio (expense reimbursements / (operating costs + real estate taxes))
86.6
%
 
88.0
%
 
86.5
%
 
87.4
%
 
 
 
 
 
 
 
 
 
 
 
 
Reconciliation of Net Operating Income to Net Income Attributable to Common Stockholders
 
 
 
 
 
 
 
 
Net operating income
$
216,152

 
$
225,947

 
$
661,095

 
$
680,923

 
 
Lease termination fees
467

 
2,235

 
2,363

 
5,476

 
 
Straight-line rental income, net
5,015

 
2,401

 
11,896

 
14,486

 
 
Amortization of above- and below-market leases and tenant inducements, net
5,112

 
6,964

 
18,250

 
21,434

 
 
Fee income
—

 
183

 
—

 
320

 
 
Straight-line ground rent expense (2)
(40
)
 
(31
)
 
(100
)
 
(104
)
 
 
Depreciation and amortization
(85,183
)
 
(94,239
)
 
(266,900
)
 
(285,040
)
 
 
Impairment of real estate assets
(16,372
)
 
(11,065
)
 
(44,201
)
 
(27,383
)
 
 
General and administrative
(21,209
)
 
(22,838
)
 
(64,955
)
 
(67,043
)
 
 
Total other income (expense)
43,404

 
(30,764
)
 
(28,718
)
 
(117,533
)
 
 
Equity in income of unconsolidated joint venture
—

 
31

 
—

 
381

 
 
Gain on disposition of unconsolidated joint venture interest
—

 
4,556

 
—

 
4,556

 
 
Net income attributable to non-controlling interests
—

 
—

 
—

 
(76
)
 
 
Preferred stock dividends
—

 
—

 
—

 
(39
)
 
Net income attributable to common stockholders
$
147,346

 
$
83,380

 
$
288,730

 
$
230,358

 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Statement of Operations Detail
 
 
 
 
 
 
 
 
Rental income
 
 
 
 
 
 
 
 
 
Base rent
$
224,106

 
$
230,694

 
$
680,952

 
$
696,674

 
 
Lease termination fees
467

 
2,235

 
2,363

 
5,476

 
 
Straight-line rental income, net
5,015

 
2,401

 
11,896

 
14,486

 
 
Amortization of above- and below-market leases and tenant inducements, net
5,112

 
6,964

 
18,250

 
21,434

 
 
Ancillary and other
4,517

 
4,284

 
13,088

 
11,906

 
 
Total rental income
$
239,217

 
$
246,578

 
$
726,549

 
$
749,976

 
 
 
 
 
 
 
 
 
 
 
 
Other revenues
 
 
 
 
 
 
 
 
 
Percentage rents
$
915

 
$
1,246

 
$
5,547

 
$
6,106

 
 
Fee income
—

 
183

 
—

 
320

 
 
Total other revenues
$
915

 
$
1,429

 
$
5,547

 
$
6,426

 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
 
 
 
 
 
 
 
 
 
Mortgage, note and other interest
$
45,378

 
$
46,644

 
$
134,449

 
$
136,488

 
 
Unsecured credit facility and term loan interest
9,945

 
10,852

 
30,979

 
35,452

 
 
Capitalized interest
(629
)
 
(572
)
 
(1,798
)
 
(2,268
)
 
 
Deferred financing cost amortization
1,596

 
1,709

 
4,909

 
5,283

 
 
Debt premium/discount amortization, net
(926
)
 
(1,223
)
 
(2,804
)
 
(4,371
)
 
 
Total interest expense
$
55,364

 
$
57,410

 
$
165,735

 
$
170,584

 
 
 
 
 
 
 
 
 
 
 
 
Other
 
 
 
 
 
 
 
 
 
Federal and state taxes
$
844

 
$
542

 
$
1,960

 
$
2,509

 
 
Other
118

 
658

 
240

 
82

 
 
Total other
$
962

 
$
1,200

 
$
2,200

 
$
2,591

 
 
 
 
 
 
 
 
 
 
 
 
Additional G&A Disclosures
 
 
 
 
 
 
 
 
 
Equity based compensation
2,738

 
2,864

 
8,006

 
7,838

 
 
Capitalized direct leasing compensation costs
4,490

 
3,528

 
11,573

 
10,620

 
 
Capitalized direct construction compensation costs
2,625

 
1,836

 
7,654

 
5,800

 
 
 
 
 
 
 
 
 
 
 
(1) NOI excludes unconsolidated joint venture Montecito Marketplace NOI of $48 and $461 at pro rata share for the three and nine months ended September 30, 2017, respectively. Montecito
Marketplace was sold on August 8, 2017.

(2) Straight-line ground rent expense is included in Operating costs on the Consolidated Statements of Operations.

Supplemental Disclosure - Three Months Ended September 30, 2018
Page 10
jpgstandardlogoa21.jpg




SAME PROPERTY NOI ANALYSIS
 
 
 
 
 
 
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
 
 
Nine Months Ended
 
 
 
 
 
 
 
9/30/18
 
9/30/17
 
Change
 
9/30/18
 
9/30/17
 
Change
 
Same Property NOI Analysis
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of properties
 
439

 
439

 
—
 
437

 
437

 
—
 
Percent billed
 
89.4
%
 
89.6
%
 
(0.2%)
 
89.4
%
 
89.6
%
 
(0.2%)
 
Percent leased
 
92.5
%
 
91.6
%
 
0.9%
 
92.5
%
 
91.6
%
 
0.9%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Base rent
 
$
215,330

 
$
209,900

 
 
 
$
636,580

 
$
624,375

 
 
 
 
Ancillary and other
 
4,295

 
3,914

 
 
 
12,279

 
10,705

 
 
 
 
Expense reimbursements
 
63,916

 
61,580

 
 
 
190,400

 
187,651

 
 
 
 
Percentage rents
 
838

 
1,161

 
 
 
5,340

 
5,837

 
 
 
 
 
 
 
284,379

 
276,555

 
2.8%
 
844,599

 
828,568

 
1.9%
 
Operating expenses
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating costs
 
(30,972
)
 
(28,673
)
 
 
 
(94,539
)
 
(90,878
)
 
 
 
 
Real estate taxes
 
(43,023
)
 
(41,777
)
 
 
 
(125,997
)
 
(123,619
)
 
 
 
 
Provision for doubtful accounts
 
(2,850
)
 
(1,041
)
 
 
 
(5,539
)
 
(3,623
)
 
 
 
 
 
 
 
(76,845
)
 
(71,491
)
 
7.5%
 
(226,075
)
 
(218,120
)
 
3.6%
 
Same property NOI
 
$
207,534

 
$
205,064

 
1.2%
 
$
618,524

 
$
610,448

 
1.3%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Same property NOI excluding redevelopments (1)
 
$
189,179

 
$
188,049

 
0.6%
 
$
564,172

 
$
559,121

 
0.9%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NOI margin
 
73.0
%
 
74.1
%
 
 
 
73.2
%
 
73.7
%
 
 
 
Expense recovery ratio
 
86.4
%
 
87.4
%
 
 
 
86.3
%
 
87.5
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent contribution to same property NOI growth:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Change
 
Percent Contribution
 
 
 
Change
 
Percent Contribution
 
 
 
 
Base rent
 
$
5,430

 
2.7%
 
 
 
$
12,205

 
1.9%
 
 
 
 
Ancillary and other
 
381

 
0.2%
 
 
 
1,574

 
0.3%
 
 
 
 
Net recoveries
 
(1,209
)
 
(0.6%)
 
 
 
(3,290
)
 
(0.5%)
 
 
 
 
Percentage rents
 
(323
)
 
(0.2%)
 
 
 
(497
)
 
(0.1%)
 
 
 
 
Provision for doubtful accounts
 
(1,809
)
 
(0.9%)
 
 
 
(1,916
)
 
(0.3%)
 
 
 
 
 
 
 
 
 
1.2%
 
 
 
 
 
1.3%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Reconciliation of Net Income Attributable to Common Stockholders to Same Property NOI
 
 
 
 
 
 
 
 
 
Same property NOI
 
$
207,534

 
$
205,064

 
 
 
$
618,524

 
$
610,448

 
 
 
Adjustments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-same property NOI
 
8,618

 
20,883

 
 
 
42,571

 
70,475

 
 
 
 
Lease termination fees
 
467

 
2,235

 
 
 
2,363

 
5,476

 
 
 
 
Straight-line rental income, net
 
5,015

 
2,401

 
 
 
11,896

 
14,486

 
 
 
 
Amortization of above- and below-market leases and tenant inducements, net
 
5,112

 
6,964

 
 
 
18,250

 
21,434

 
 
 
 
Fee income
 
—

 
183

 
 
 
—

 
320

 
 
 
 
Straight-line ground rent expense
 
(40
)
 
(31
)
 
 
 
(100
)
 
(104
)
 
 
 
 
Depreciation and amortization
 
(85,183
)
 
(94,239
)
 
 
 
(266,900
)
 
(285,040
)
 
 
 
 
Impairment of real estate assets
 
(16,372
)
 
(11,065
)
 
 
 
(44,201
)
 
(27,383
)
 
 
 
 
General and administrative
 
(21,209
)
 
(22,838
)
 
 
 
(64,955
)
 
(67,043
)
 
 
 
 
Total other income (expense)
 
43,404

 
(30,764
)
 
 
 
(28,718
)
 
(117,533
)
 
 
 
 
Equity in income of unconsolidated joint venture
 
—

 
31

 
 
 
—

 
381

 
 
 
 
Gain on disposition of unconsolidated joint venture interest
 
—

 
4,556

 
 
 
—

 
4,556

 
 
 
 
Net income attributable to non-controlling interests
 
—

 
—

 
 
 
—

 
(76
)
 
 
 
 
Preferred stock dividends
 
—

 
—

 
 
 
—

 
(39
)
 
 
 
Net income attributable to common stockholders
 
$
147,346

 
$
83,380

 
 
 
$
288,730

 
$
230,358

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Redevelopments include only completed and in process projects. See page 2 for reconciliation.
 
 
 
 


Supplemental Disclosure - Three Months Ended September 30, 2018
Page 11
jpgstandardlogoa21.jpg




CAPITAL EXPENDITURES
 
 
 
 
 
 
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
 
9/30/18
 
9/30/17
 
9/30/18
 
9/30/17
 
Leasing related:
 
 
 
 
 
 
 
 
 
Tenant improvements and tenant inducements
$
13,644

 
$
20,208

 
$
52,826

 
$
56,999

 
 
External leasing commissions
2,770

 
2,346

 
7,773

 
6,380

 
 
 
 
16,414

 
22,554

 
60,599

 
63,379

 
 
 
 
 
 
 
 
 
 
 
 
Value-enhancing:
 
 
 
 
 
 
 
 
 
Anchor space repositionings
20,825

 
9,977

 
38,839

 
18,561

 
 
Outparcel developments
6,720

 
1,520

 
10,823

 
4,295

 
 
Redevelopments
17,816

 
8,391

 
51,059

 
31,042

 
 
New development
2,832

 
9,638

 
7,886

 
12,149

 
 
Other (1)
1,424

 
—

 
2,952

 
—

 
 
 
 
49,617

 
29,526

 
111,559

 
66,047

 
 
 
 
 
 
 
 
 
 
 
 
Maintenance capital expenditures
13,704

 
11,711

 
21,942

 
17,996

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
79,735

 
$
63,791

 
$
194,100

 
$
147,422

 
 
 
 
 
 
 
 
 
 
 
(1) Includes, but is not limited to, minor value-enhancing projects, LED lighting upgrades and solar array installations.
Includes unconsolidated joint venture, Montecito Marketplace, at pro rata share. Montecito Marketplace was sold on August 8, 2017.




Supplemental Disclosure - Three Months Ended September 30, 2018
Page 12
jpgstandardlogoa21.jpg




CAPITALIZATION, LIQUIDITY & DEBT RATIOS
 
Unaudited, dollars and shares in thousands except per share amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of
 
As of
 
 
 
 
 
 
 
 
 
 
9/30/18
 
12/31/17
 
 
Equity Capitalization:
 
 
 
 
 
 
 
 
 
 
Common shares outstanding
 
 
 
 
299,892

 
304,620

 
 
 
Common share price
 
 
 
 
$
17.51

 
$
18.66

 
 
Total equity capitalization
 
 
 
 
$
5,251,109

 
$
5,684,209

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt:
 
 
 
 
 
 
 
 
 
 
 
Revolving credit facility
 
 
 
 
$
141,000

 
$
—

 
 
 
Term loans
 
 
 
 
1,150,000

 
1,585,000

 
 
 
Unsecured notes
 
 
 
 
3,468,453

 
3,218,453

 
 
 
Secured mortgages
 
 
 
 
384,409

 
902,717

 
 
Total principal debt
 
 
 
 
5,143,862

 
5,706,170

 
 
Add/Less: Net unamortized premium (discount)
 
 
(8,648
)
 
1,836

 
 
Less: Deferred financing fees
 
 
 
 
(28,506
)
 
(31,768
)
 
 
Total debt
 
 
 
 
5,106,708

 
5,676,238

 
 
Less: cash, cash equivalents and restricted cash
 
 
(65,019
)
 
(110,777
)
 
 
Net debt
 
 
 
 
$
5,041,689

 
$
5,565,461

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total market capitalization:
 
 
 
 
$
10,292,798

 
$
11,249,670

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liquidity:
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents and restricted cash
 
 
$
65,019

 
$
110,777

 
 
 
Available under revolving credit facility (1)
 
 
1,103,813

 
1,249,329

 
 
 
 
 
 
 
 
 
 
$
1,168,832

 
$
1,360,106

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratios:
 
 
 
 
 
 
 
 
 
 
Principal debt to total market capitalization
 
50.0
%
 
50.7
%
 
 
 
Principal debt to total assets, before depreciation

47.4
%
 
49.6
%
 
 
 
Secured principal debt to total assets, before depreciation
 
3.5
%
 
7.8
%
 
 
 
Net principal debt to Adjusted EBITDA (2)
 
6.2x

 
6.4x

 
 
 
Net principal debt to Cash Adjusted EBITDA (2)
 
6.5x

 
6.8x

 
 
 
Unencumbered assets to unsecured debt
 
2.1x

 
1.9x

 
 
 
Interest coverage (Adjusted EBITDA / interest expense) (2)
 
3.7x

 
3.9x

 
 
 
Debt service coverage (Adjusted EBITDA / (interest expense + scheduled principal payments)) (2)
3.5x

 
3.6x

 
 
 
Fixed charge coverage (Adjusted EBITDA / (interest expense + scheduled principal payments +
 
 
 
 
 
 
 
preferred dividends)) (2)
 
 
 
 
3.5x

 
3.6x

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of
 
As of
 
 
 
 
 
 
 
 
 
 
9/30/18
 
12/31/17
 
 
 
Percentage of total debt:
 
 
 
 
 
 
 
 
 
 
 
Fixed
 
 
 
 
87.5
%
 
96.8
%
 
 
 
 
Variable
 
 
 
 
12.5
%
 
3.2
%
 
 
 
Unencumbered summary:
 
 
 
 
 
 
 
 
 
 
 
Percent of properties
 
 
 
 
91.7
%
 
75.3
%
 
 
 
 
Percent of ABR
 
 
 
 
92.5
%
 
79.0
%
 
 
 
 
Percent of NOI
 
 
 
 
92.6
%
 
79.5
%
 
 
 
Weighted average maturity (years):
 
 
 
 
 
 
 
 
 
 
 
Fixed
 
 
 
 
5.0

 
5.1

 
 
 
 
Variable
 
 
 
 
4.0

 
6.6

 
 
 
 
Total
 
 
 
 
4.9

 
5.2

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Credit Ratings & Outlook:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fitch Ratings
BBB-
 Stable
 
 
 
 
 
 
Moody's Investors Service
Baa3
 Stable
 
 
 
 
 
 
Standard & Poor's Ratings Services
BBB-
 Stable
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Funds available under the revolving credit facility are reduced by three outstanding letters of credit totaling $5,187.
 
 
 
 
(2) For purposes of financial ratios, Adjusted EBITDA and Cash Adjusted EBITDA are annualized based on the current quarter results.
 

Supplemental Disclosure - Three Months Ended September 30, 2018
Page 13
jpgstandardlogoa21.jpg




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

 
Scheduled Maturities

 
Total

 
Weighted Avg Stated Interest Rate

 
 
 
 
 
 
 
2018
 
 
 
$
1,877

 
$
—

 
$
1,877

 
6.08
%
 
 
 
 
 
 
 
2019
 
 
 
7,738

 
350,000

 
357,738

 
2.36
%
 
 
 
 
 
 
 
2020
 
 
 
7,802

 
314,767

 
322,569

 
4.84
%
 
 
 
 
 
 
 
2021
 
 
 
—

 
686,225

 
686,225

 
3.49
%
 
 
 
 
 
 
 
2022
 
 
 
—

 
750,000

 
750,000

 
3.70
%
 
 
 
 
 
 
 
2023
 
 
 
—

 
500,000

 
500,000

 
3.25
%
 
 
 
 
 
 
 
2024
 
 
 
—

 
807,000

 
807,000

 
3.71
%
 
 
 
 
 
 
 
2025
 
 
 
—

 
700,000

 
700,000

 
3.85
%
 
 
 
 
 
 
 
2026
 
 
 
—

 
607,542

 
607,542

 
4.17
%
 
 
 
 
 
 
 
2027
 
 
 
—

 
400,000

 
400,000

 
3.90
%
 
 
 
 
 
 
 
2028+
 
 
 
—

 
10,911

 
10,911

 
7.08
%
 
 
 
 
 
 
 
Total Debt Maturities
 
$
17,417

 
$
5,126,445

 
$
5,143,862

 
3.71
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unamortized discount
 
(8,648
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Deferred financing costs
 
(28,506
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt obligations, net
 
 
$
5,106,708

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Detailed Maturity Schedule - Debt obligations
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Rate Secured Mortgages
 
Variable Rate and Fixed Rate Unsecured Notes (1)
 
Variable Rate and Fixed Rate Unsecured Credit Facility / Term Loans (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

 
 
 
2018
 
$
1,877

 
$
—

 
6.08
%
 
$
—

 
—

 
$
—

 
—

 
 
 
2019
 
7,738

 
—

 
6.08
%
 
—

 
—

 
350,000

 
2.28
%
 
 
 
2020
 
7,802

 
173,767

 
5.92
%
 
—

 
—

 
141,000

 
3.45
%
 
 
 
2021
 
—

 
186,225

 
6.24
%
 
—

 
—

 
500,000

 
2.46
%
 
 
 
2022
 
—

 
—

 
—

 
750,000

 
3.70
%
 
—

 
—

 
 
 
2023
 
—

 
—

 
—

 
500,000

 
3.25
%
 
—

 
—

 
 
 
2024
 
—

 
7,000

 
4.40
%
 
500,000

 
3.65
%
 
300,000

 
3.80
%
 
 
 
2025
 
—

 
—

 
—

 
700,000

 
3.85
%
 
—

 
—

 
 
 
2026
 
—

 
—

 
—

 
607,542

 
4.17
%
 
—

 
—

 
 
 
2027
 
—

 
—

 
—

 
400,000

 
3.90
%
 
—

 
—

 
 
 
2028+
 
—

 
—

 
—

 
10,911

 
7.08
%
 
—

 
—

 
 
 
Total Debt Maturities
 
$
17,417

 
$
366,992

 
6.05
%
 
$
3,468,453

 
3.77
%
 
$
1,291,000

 
2.83
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) No scheduled amortization prior to maturity dates.

Supplemental Disclosure - Three Months Ended September 30, 2018
Page 14
jpgstandardlogoa21.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
 
 
 
 
 
 
 
 
 
 
 
 
Inland (Brixmor/IA, LLC) - Pool A (9 properties)
 
 
$
95,121

 
5.91
 
12/6/20
 
1.85
 
 
 
Inland (Brixmor/IA, LLC) - Pool B (8 properties)
 
 
87,121

 
5.91
 
12/6/20
 
1.69
 
 
 
REIT 20 LP 51 A (4 properties)
 
 
45,288

 
6.24
 
1/6/21
 
0.88
 
 
 
REIT 20 LP 45 B (4 properties)
 
 
40,718

 
6.24
 
1/6/21
 
0.79
 
 
 
REIT 20 LP 42 C (5 properties)
 
 
38,065

 
6.24
 
1/6/21
 
0.74
 
 
 
REIT 20 LP 37 D (3 properties)
 
 
32,871

 
6.24
 
1/6/21
 
0.64
 
 
 
REIT 20 LP 43 E (4 properties)
 
 
38,225

 
6.24
 
1/6/21
 
0.74
 
 
 
Larchmont Centre
 
 
7,000

 
4.40
 
3/1/24
 
0.14
 
 
 
TOTAL FIXED RATE SECURED MORTGAGES
 
 
384,409

 
6.05
 
 
 
7.47
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured fixed rate debt
 
 
 
 
 
 
 
 
 
 
 
 
Term Loan Facility - $600M (1)
 
 
350,000

 
2.28
 
3/18/19
 
6.81
 
 
 
Term Loan Facility - Tranche B (2)
 
 
500,000

 
2.46
 
7/31/21
 
9.72
 
 
 
Term Loan Facility - $300M (3)
 
 
50,000

 
2.78
 
7/26/24
 
0.97
 
 
 
TOTAL UNSECURED FIXED RATE DEBT
 
 
900,000

 
2.41
 
 
 
17.50
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured Notes
 
 
 
 
 
 
 
 
 
 
 
 
3.88%, 2022 Brixmor OP Notes
 
 
500,000

 
3.88
 
8/15/22
 
9.72
 
 
 
3.25%, 2023 Brixmor OP Notes
 
 
500,000

 
3.25
 
9/15/23
 
9.72
 
 
 
3.65%, 2024 Brixmor OP Notes
 
 
500,000

 
3.65
 
6/15/24
 
9.72
 
 
 
3.85%, 2025 Brixmor OP Notes
 
 
700,000

 
3.85
 
2/1/25
 
13.61
 
 
 
4.13%, 2026 Brixmor OP Notes
 
 
600,000

 
4.13
 
6/15/26
 
11.66
 
 
 
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
 
0.12
 
 
 
7.68%, 2026 Brixmor LLC Notes I
 
 
748

 
7.68
 
11/2/26
 
0.02
 
 
 
3.90%, 2027 Brixmor OP Notes
 
 
400,000

 
3.90
 
3/15/27
 
7.78
 
 
 
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
 
0.11
 
 
 
7.50%, 2029 Brixmor LLC Notes
 
 
3,203

 
7.50
 
7/30/29
 
0.06
 
 
 
TOTAL FIXED RATE UNSECURED NOTES
 
 
3,218,453

 
3.81
 
 
 
62.57
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL FIXED RATE DEBT
 
 
$
4,502,862

 
3.72
 
 
 
87.54
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
VARIABLE RATE DEBT:
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured variable rate debt
 
 
 
 
 
 
 
 
 
 
 
 
Revolving Credit Facility (Libor + 120bps)
 
 
$
141,000

 
3.45
 
7/31/20
 
2.74
 
 
 
2022 Brixmor OP Notes (Libor + 105 bps)
 
 
250,000

 
3.36
 
2/1/22
 
4.86
 
 
 
Term Loan Facility - $300M (Libor + 190 bps)
 
 
250,000

 
4.00
 
7/26/24
 
4.86
 
 
 
TOTAL UNSECURED VARIABLE RATE DEBT
 
 
641,000

 
3.63
 
 
 
12.46
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL VARIABLE RATE DEBT
 
 
$
641,000

 
3.63
 
 
 
12.46
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL DEBT OBLIGATIONS
 
 
$
5,143,862

 
3.71
 
 
 
100.00
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unamortized discount
 
(8,648
)
 
 
 
 
 
 
 
 
 
 
Deferred financing costs
 
(28,506
)
 
 
 
 
 
 
 
 
 
 
DEBT OBLIGATIONS, NET
 
$
5,106,708

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Effective November 1, 2016, $350,000 of the Term Loan Facility - $600M is swapped from one-month Libor to a fixed rate of 0.878 % (plus a spread of 140bps) through March 18, 2019.
 
(2) Effective November 1, 2016, the $500,000 Term Loan Facility - Tranche B is swapped from one-month Libor to a fixed rate of 1.113% (plus a spread of 135bps) through July 30, 2021.
 
(3) Effective July 28, 2017, $50,000 of the Term Loan Facility - $300M is swapped from one-month Libor to a fixed rate of 0.878% (plus a spread of 190bps) through March 18, 2019.
 

Supplemental Disclosure - Three Months Ended September 30, 2018
Page 15
jpgstandardlogoa21.jpg




COVENANT DISCLOSURE
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured OP Notes Covenant Disclosure
 
 
 
 
 
 
 
 
 
 
 
Covenants
 
9/30/18
 
 
 
 
 
 
 
 
 
 
 
 
 
 I. Aggregate debt test
 
 < 65%
 
48.1
%
 
 
 
Total Debt
 
 
 
5,106,708

 
 
 
Total Assets
 
 
 
10,625,434

 
 
 
 
 
 
 
 
 
 
 
 
 
II. Secured debt test
 
< 40%
 
3.6
%
 
 
 
Total Secured Debt
 
 
 
387,750

 
 
 
Total Assets
 
 
 
10,625,434

 
 
 
 
 
 
 
 
 
 
 
 
 
III. Unencumbered asset ratio
 
 > 150%
 
207.8
%
 
 
 
Total Unencumbered Assets
 
 
 
9,806,447

 
 
 
Unsecured Debt
 
 
 
4,718,958

 
 
 
 
 
 
 
 
 
 
 
 
 
IV. Debt service test
 
 > 1.5x
 
4.2x

 
 
 
Consolidated EBITDA
 
 
 
837,242

 
 
 
Annual Debt Service Charge
 
 
 
199,554

 
 
 
 
 
 
 
 
 
 
 
 
 
For 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, August 17, 2016, March 3, 2017, June 2, 2017 and August 28, 2018 and the notes and indenture

 
 
incorporated therein by reference.

 
 
 
 
 
 
 
 
 
 
 
 
Unsecured Credit Facility Covenant Disclosure
 
 
 
 
 
 
 
 
 
 
 
Covenants
 
9/30/18
 
 
 
 
 
 
 
 
 
 
 
 
 
 I. Leverage ratio
 
 < 60%
 
39.8
%
 
 
 
Total Outstanding Indebtedness
 
 
 
5,143,862

 
 
 
Balance Sheet Cash
 
 
 
80,303

 
 
 
Total Asset Value
 
 
 
12,727,269

 
 
 
 
 
 
 
 
 
 
 
 
 
II. Secured leverage ratio
 
< 40%
 
2.4
%
 
 
 
Total Secured Indebtedness
 
 
 
384,409

 
 
 
Balance Sheet Cash
 
 
80,303

 
 
 
Total Asset Value
 
 
 
12,727,269

 
 
 
 
 
 
 
 
 
 
 
 
 
III. Unsecured leverage ratio
 
 < 60%
 
40.0
%
 
 
 
Total Unsecured Indebtedness
 
 
 
4,759,453

 
 
 
Unrestricted Cash
 
 
 
34,891

 
 
 
Unencumbered Asset Value
 
 
11,797,588

 
 
 
 
 
 
 
 
 
 
 
 
 
IV. Fixed charge coverage ratio
 
 > 1.5x
 
4.2x

 
 
 
Total Net Operating Income
 
 
 
858,899

 
 
 
Capital Expenditure Reserve
 
 
 
11,487

 
 
 
Fixed Charges
 
 
 
201,388

 
 
 
 
 
 
 
 
 
 
 
 
 
For 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 September 30, 2018
Page 16
jpgstandardlogoa21.jpg




 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
INVESTMENT SUMMARY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure
Three Months Ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





ACQUISITIONS
Dollars in thousands, except ABR PSF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
MSA
 
Purchase Date
 
Purchase Price
 
GLA / Acres
 
Percent Leased
 
 ABR
PSF
 
Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended June 30, 2018 (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Land adjacent to Arborland Center
 
Ann Arbor, MI
 
6/1/18
 
$
5,475

 
48.5 acres

 
-
 
-
 
-
 
 
 
 
 
 
 
 
 
$
5,475

 
48.5 acres

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outparcel building adjacent to Beneva Village Shoppes
 
Sarasota, FL
 
7/9/18
 
$
1,500

 
3,710

 
-
 
-
 
-
 
 
 
 
 
 
 
 
 
$
1,500

 
3,710

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL - NINE MONTHS ENDED SEPTEMBER 30, 2018
 
$
6,975

 
3,710

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
/ 48.5 acres

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) In addition, Brixmor paid $1,850 to terminate the ground lease and acquire the Rite Aid building at Lehigh Shopping Center in Bethlehem, PA.
 
 




Supplemental Disclosure - Three Months Ended September 30, 2018
Page 18
jpgstandardlogoa21.jpg




DISPOSITIONS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except ABR PSF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
MSA
 
Sale Date
 
Sale Price
 
GLA / Acres
 
Percent Leased
 
ABR PSF (1)
 
Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Wells Fargo at Country Hills (2)
 
Los Angeles-Long Beach-Anaheim, CA
 
1/4/18
 
$
135

 
3,500

 
100.0
%
 
$
5.14

 
n/a
 
Winchester Plaza
 
Huntsville, AL
 
1/17/18
 
14,750

 
75,780

 
96.2
%
 
13.25

 
Publix
 
Crossroads Centre
 
St. Louis, MO-IL
 
1/24/18
 
14,650

 
242,752

 
87.9
%
 
8.50

 
Ruler Foods, Big Lots, Plato's Closet, Sky Zone, T.J.Maxx
 
Oakwood Commons
 
Nashville-Davidson--Murfreesboro--Franklin, TN
 
1/25/18
 
24,500

 
267,558

 
91.5
%
 
11.44

 
Publix, Bed Bath & Beyond, Dollar Tree, Goody’s, PetSmart, Ross Dress for Less
 
Galleria Commons
 
Las Vegas-Henderson-Paradise, NV
 
1/30/18
 
31,400

 
278,411

 
100.0
%
 
11.89

 
Babies"R"Us, Burlington Stores, Kirkland’s, Stein Mart, T.J.Maxx, Tuesday Morning
 
Warren Plaza
 
Dubuque, IA
 
3/30/18
 
8,950

 
96,310

 
90.5
%
 
8.48

 
Hy-Vee
 
Clocktower Place
 
St. Louis, MO-IL
 
3/30/18
 
12,000

 
209,832

 
92.9
%
 
7.98

 
ALDI, Florissant Furniture & Rug Gallery, K&G Fashion Superstore, Ross Dress for Less
 
 
 
 
 
 
 
$
106,385

 
1,174,143

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended June 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Governors Town Square
 
Atlanta-Sandy Springs-Roswell, GA
 
4/27/18
 
$
17,450

 
68,658

 
98.0
%
 
$
17.56

 
Publix
 
Greensboro Village
 
Nashville-Davidson--Murfreesboro--Franklin, TN
 
4/27/18
 
14,300

 
70,203

 
98.3
%
 
14.67

 
Publix
 
Pensacola Square
 
Pensacola-Ferry Pass-Brent, FL
 
5/9/18
 
9,100

 
142,767

 
82.4
%
 
9.43

 
Bealls Outlet, Big Lots, Petland, Sears Home Appliance Showroom
 
Roundtree Place
 
Ann Arbor, MI
 
5/16/18
 
11,500

 
246,620

 
98.6
%
 
13.07

 
Walmart Supercenter, Harbor Freight Tools, Ollie's Bargain Outlet
 
Shoppes at Hickory Hollow
 
Nashville-Davidson--Murfreesboro--Franklin, TN
 
5/23/18
 
12,600

 
144,469

 
79.4
%
 
11.27

 
Kroger, Citi Trends
 
Brooksville Square (3)
 
Tampa-St. Petersburg-Clearwater, FL
 
5/31/18
 
10,000

 
60,000

 
100.0
%
 
12.04

 
Publix
 
Southland Shopping Plaza
 
Toledo, OH
 
6/7/18
 
4,200

 
285,278

 
67.9
%
 
7.38

 
Big Lots, Planet Fitness, Shopper's World
 
Midpoint Center
 
Cape Coral-Fort Myers, FL
 
6/15/18
 
16,500

 
75,386

 
98.6
%
 
13.72

 
Publix
 
Paradise Plaza
 
Chico, CA
 
6/29/18
 
7,887

 
196,451

 
97.9
%
 
7.90

 
Save Mart, Kmart
 
Grand Traverse Crossing
 
Traverse City, MI
 
6/29/18
 
35,800

 
411,758

 
100.0
%
 
27.02

 
Walmart Supercenter, Books-A-Million, PetSmart, Staples, The Home Depot, Toys"R"Us, Ulta
 
 
 
 
 
 
 
$
139,337

 
1,701,590

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Lakewood Plaza
 
New York-Newark-Jersey City, NY-NJ-PA
 
7/12/18
 
$
56,000

 
203,210

 
100.0
%
 
$
17.52

 
Gourmet Glatt Market, Dollar Tree
 
Braes Link
 
Houston-The Woodlands-Sugar Land, TX
 
7/13/18
 
8,675

 
38,997

 
100.0
%
 
17.98

 
Walgreens
 
Liberty Plaza
 
Baltimore-Columbia-Towson, MD
 
7/19/18
 
9,500

 
57,954

 
94.0
%
 
16.50

 
Marshalls
 
Dominick's Box at Elk Grove Town Center (2)
 
Chicago-Naperville-Elgin, IL-IN-WI
 
7/27/18
 
3,000

 
72,385

 
100.0
%
 
-

 
Dominick's
 
Mount Carmel Plaza
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
7/31/18
 
1,100

 
14,504

 
84.5
%
 
13.79

 
SGS Paper
 
Fashion Square
 
Jacksonville, FL
 
8/1/18
 
2,500

 
36,029

 
46.5
%
 
32.00

 
Miller's Orange Park Ale House

Supplemental Disclosure - Three Months Ended September 30, 2018
Page 19
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DISPOSITIONS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except ABR PSF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
MSA
 
Sale Date
 
Sale Price
 
GLA / Acres
 
Percent Leased
 
ABR PSF (1)
 
Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
County Line Plaza
 
Jackson, MS
 
8/3/18
 
17,500

 
221,127

 
84.5
%
 
11.18

 
Burke's Outlet, Burlington Stores, Conn's, Kirkland's, Tuesday Morning
 
St Francis Plaza
 
Santa Fe, NM
 
8/6/18
 
7,900

 
35,800

 
100.0
%
 
14.33

 
Natural Grocers, Walgreens
 
Iberia Plaza
 
Lafayette, LA
 
8/7/18
 
9,100

 
131,630

 
96.6
%
 
6.63

 
Super 1 Foods
 
Lagniappe Village
 
Lafayette, LA
 
8/7/18
 
14,500

 
208,354

 
92.2
%
 
9.48

 
Big Lots, Citi Trends, Stage, T.J.Maxx
 
Dover Park Plaza
 
Trenton, NJ
 
8/8/18
 
7,100

 
56,638

 
85.7
%
 
15.84

 
CVS, Dollar Tree
 
Dublin Village
 
Dublin, GA
 
8/21/18
 
8,450

 
94,920

 
97.5
%
 
7.81

 
Kroger
 
Northgate Plaza
 
Columbus, OH
 
8/29/18
 
2,825

 
15,219

 
100.0
%
 
17.68

 
-
 
Bardin Place Center
 
Dallas-Fort Worth-Arlington, TX
 
9/13/18
 
45,500

 
420,550

 
100.0
%
 
9.80

 
WinCo Foods, Hemispheres, Hobby Lobby, Ross Dress for Less
 
New Holland Shopping Center
 
Lancaster, PA
 
9/17/18
 
5,600

 
65,878

 
96.2
%
 
8.84

 
Grocery Outlet, Family Dollar
 
Cherry Square
 
Allentown-Bethlehem-Easton, PA-NJ
 
9/20/18
 
8,700

 
75,005

 
94.7
%
 
9.85

 
Redner's Warehouse Market
 
Esplanade Shopping Center
 
Oxnard-Thousand Oaks-Ventura, CA
 
9/21/18
 
95,000

 
356,864

 
93.0
%
 
20.96

 
Walmart Neighborhood Market, Bob's Discount Furniture, Dick's Sporting Goods, Five Below, Nordstrom Rack, T.J.Maxx
 
Brooksville Square (3)
 
Tampa-St. Petersburg-Clearwater, FL
 
9/21/18
 
4,620

 
96,361

 
88.5
%
 
10.21

 
-
 
Festival Center
 
Kankakee, IL
 
9/21/18
 
3,015

 
63,796

 
100.0
%
 
6.85

 
Big Lots, Dollar General
 
Chicopee Marketplace
 
Springfield, MA
 
9/21/18
 
29,500

 
151,003

 
100.0
%
 
19.49

 
Marshalls, Party City, Staples
 
Smith's (4)
 
-
 
9/24/18
 
421

 
48,000

 
100.0
%
 
10.54

 
-
 
Kimberly West Shopping Center
 
Davenport-Moline-Rock Island, IA-IL
 
9/24/18
 
7,500

 
113,713

 
90.1
%
 
6.40

 
Hy-Vee
 
Dillsburg Shopping Center
 
York-Hanover, PA
 
9/24/18
 
24,400

 
153,088

 
95.1
%
 
13.40

 
Giant Food (Ahold), Dollar Tree, Rite Aid, Tractor Supply
 
Cedar Bellaire
 
Houston-The Woodlands-Sugar Land, TX
 
9/24/18
 
17,250

 
50,967

 
100.0
%
 
16.68

 
H-E-B
 
Shops of Riverdale
 
Atlanta-Sandy Springs-Roswell, GA
 
9/27/18
 
2,431

 
16,808

 
70.3
%
 
20.41

 
-
 
Freshwater - Stateline Plaza
 
Hartford-West Hartford-East Hartford, CT
 
9/28/18
 
25,500

 
299,978

 
96.6
%
 
17.03

 
Costco, Dick's Sporting Goods, JOANN, P.C. Richard & Son
 
Clinton Crossing
 
Jackson, MS
 
9/28/18
 
14,750

 
112,148

 
96.6
%
 
10.65

 
Kroger
 
Kimball Crossing
 
Chattanooga, TN-GA
 
9/28/18
 
21,200

 
280,476

 
98.9
%
 
7.63

 
Walmart Supercenter, Goody's
 
 
 
 
 
 
 
$
453,537

 
3,491,402

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL - NINE MONTHS ENDED SEPTEMBER 30, 2018
 
$
699,259

 
6,367,135

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) ABR PSF excludes the GLA of lessee owned leasehold improvements.

(2) Represents partial sale of shopping center. Data presented reflects only portion of property sold.

(3) Partial sale of property occurred in the three months ended June 30, 2018. Remaining portion sold in the three months ended September 30, 2018. Data presented reflects only portion of property sold in each respective quarter.

(4) Located in Socorro, NM.
Major tenants includes only owned tenants.




Supplemental Disclosure - Three Months Ended September 30, 2018
Page 20
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ANCHOR SPACE REPOSITIONING SUMMARY
Dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
 
MSA
 
 
 
 
 
 
 
Description
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
IN PROCESS ANCHOR SPACE REPOSITIONINGS
 
 
 
 
 
 
New Projects Added To In Process Pipeline During The Three Months Ended September 30, 2018
 
 
 
 
 
1

Delco Plaza
 
Detroit-Warren-Dearborn, MI
 
 
Remerchandise former Babies R Us with a 55K SF Urban Air Adventure Park
 
 
2

Franklin Square - Project II
 
Charlotte-Concord-Gastonia, NC-SC
 
 
Remerchandise former Fallas with a 11K SF Five Below
 
 
3

Suffolk Plaza
 
New York-Newark-Jersey City, NY-NJ-PA
 
 
Remerchandise former A&P with a 37K SF 24 Hour Fitness and an additional junior anchor space
 
 
4

Greeneville Commons
 
Greeneville, TN
 
 
Remerchandise former Kmart with a 52K SF Hobby Lobby, a 21K SF Marshalls and a 9K SF Five Below and remerchandise former JC Penney with a 22K SF Ross Dress for Less
 
 
5

Kingston Overlook
 
Knoxville, TN
 
 
Remerchandise former Babies R Us with a 42K SF Urban Air Adventure Park
 
 
 
 
 
 
 
 
 
 
 
 
In Process Projects
 
 
 
 
 
 
 
 
 
 
6

Springdale - Phase I
 
Mobile, AL
 
 
Reconfigure two-level former Belk building and remerchandise with a 25K SF Bed Bath & Beyond, an 18K SF Cost Plus World Market and a 20K SF Shoe Station
 
 
7

Springdale - Phase II
 
Mobile, AL
 
 
Relocate and rightsize existing Burlington to 47K SF and remerchandise former Old Navy with an 18K SF Burke's
 
 
8

Cudahy Plaza
 
Los Angeles-Long Beach-Anaheim, CA
 
 
Remerchandise former Kmart with a 40K SF Chuze Fitness, a 20K SF junior anchor and additional small shop space
 
 
9

Lompoc Center
 
Santa Maria-Santa Barbara, CA
 
 
Remerchandise former Staples with a 10K SF Ulta, a 9K SF junior anchor and additional small shop space
 
 
10

Superior Marketplace
 
Boulder, CO
 
 
Remerchandise former Sports Authority with a 22K SF Stickley Furniture and a 17K SF Goldfish Swim School
 
 
11

Arapahoe Crossings
 
Denver-Aurora-Lakewood, CO
 
 
Remerchandise former Gordmans with a 40K SF Burlington and a 15K SF Planet Fitness
 
 
12

Northgate Shopping Center
 
Deltona-Daytona Beach-Ormond Beach, FL
 
 
Remerchandise former Sears Essentials with a 22K SF Planet Fitness, a 45K SF Big Lots and a 33K SF Tractor Supply
 
 
13

Annex of Arlington
 
Chicago-Naperville-Elgin, IL-IN-WI
 
 
Relocate and expand Binny’s Beverage Depot to 34K SF, replacing a former hhgregg, and remerchandise former Binny’s Beverage Depot with additional retailers
 
 
14

Market Centre - Project I
 
Elkhart-Goshen, IN
 
 
Remerchandise former MC Sports with a 21K SF JOANN
 
 
15

18 Ryan
 
Detroit-Warren-Dearborn, MI
 
 
Remerchandise former grocer with a 39K SF Dream Market grocer and a 13K SF RedLine Athletics
 
 
16

Redford Plaza - Project I
 
Detroit-Warren-Dearborn, MI
 
 
Remerchandise former grocer with a 41K SF Sun Valley Market and a 15K SF Citi Trends
 
 
17

Ellisville Square
 
St. Louis, MO-IL
 
 
Remerchandise and expand former Sports Authority with a 22K SF ALDI and a 15K SF Petco
 
 
18

Bedford Grove - Project I
 
Manchester-Nashua, NH
 
 
Remerchandise former Hannaford with a 21K SF Boston Interiors and a 36K SF Bed Bath & Beyond
 
 
19

Falcaro's Plaza
 
New York-Newark-Jersey City, NY-NJ-PA
 
 
Remerchandise former OfficeMax and adjacent small shop space with a 20K SF Planet Fitness
 
 
20

Laurel Square - Project I
 
New York-Newark-Jersey City, NY-NJ-PA
 
 
Recapture and remerchandise former Kmart with a 95K SF At Home
 
 
21

Franklin Square - Project I
 
Charlotte-Concord-Gastonia, NC-SC
 
 
Remerchandise former Michaels with a 10K SF Partners in Primary Care and additional small shop space
 
 
22

Florence Plaza - Florence Square
 
Cincinnati, OH-KY-IN
 
 
Rightsize existing T.J. Maxx / HomeGoods combo store to 48K SF to accommodate addition of a 23K SF A.C. Moore
 
 
23

Dickson City Crossings - Project I
 
Scranton--Wilkes-Barre--Hazleton, PA
 
 
Remerchandise former sporting goods store with a 41K SF Burlington and an additional junior anchor
 
 
24

The Commons at Wolfcreek - Project II
 
Memphis, TN-MS-AR
 
 
Remerchandise former hhgregg with a 39K SF Painted Tree Marketplace
 
 
25

Williamson Square
 
Nashville-Davidson--Murfreesboro--Franklin, TN
 
 
Remerchandise former Tuesday Morning with a 10K SF Goldfish Swim School and a 4K SF Burn Boot Camp
 
 
26

Crossroads Centre - Pasadena
 
Houston-The Woodlands-Sugar Land, TX
 
 
Remerchandise and expand former Sears Outlet with a 37K SF LA Fitness
 
 
27

Tanglewilde Center
 
Houston-The Woodlands-Sugar Land, TX
 
 
Remerchandise and expand former ACE Hardware with a 19K SF ALDI
 
 
28

Texas City Bay
 
Houston-The Woodlands-Sugar Land, TX
 
 
Remerchandise former Marathon Oil office space with a 22K SF Planet Fitness and additional junior anchors
 
 
29

The Centre at Navarro
 
Victoria, TX
 
 
Remerchandise former Hastings with a 20K SF Planet Fitness and additional small shop space
 
 
30

Ridgeview Centre
 
Big Stone Gap, VA
 
 
Remerchandise remaining former Kmart space with a 20K SF Marshalls
 

Supplemental Disclosure - Three Months Ended September 30, 2018
Page 21
jpgstandardlogoa21.jpg




ANCHOR SPACE REPOSITIONING SUMMARY
Dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
 
MSA
 
 
 
 
 
 
 
Description
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
31

Hilltop Plaza
 
Virginia Beach-Norfolk-Newport News, VA-NC
 
 
Relocate and expand JOANN to 24K SF, replacing a former Office Depot and remerchandise former JOANN with a 10K SF Ulta
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of Projects
 
Net Estimated Costs (1)
 
Gross Costs to Date
 
Expected NOI Yield (1)
 
 
 
 
 
Total In Process
31

 
$
122,200
 
 
$
43,238

 
9% - 14%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
COMPLETED ANCHOR SPACE REPOSITIONINGS
 
 
 
Projects Completed During The Three Months Ended September 30, 2018
 
 
 
 
 
1

The Manchester Collection
 
Hartford-West Hartford-East Hartford, CT
 
 
Remerchandise former Thomasville Furniture and adjacent small shop space with a 17K SF Cost Plus World Market
 
 
2

Hunter's Creek Plaza
 
Orlando-Kissimmee-Sanford, FL
 
 
Remerchandise former LA Fitness and downsize Office Depot to accommodate a 30K SF Lucky’s Market
 
 
3

Dickson City Crossings - Project II
 
Scranton--Wilkes-Barre--Hazleton, PA
 
 
Remerchandise former hhgregg with a 28K SF Gabe's
 
 
4

Northtown Plaza
 
Houston-The Woodlands-Sugar Land, TX
 
 
Remerchandise former Fallas with a 25K SF EL Rancho Supermercado
 
 
5

Winwood Town Center
 
Odessa, TX
 
 
Remerchandise former Hastings with a 25K SF dd's Discounts (Ross Dress for Less)
 
 
 
 
 
 
 
 
 
 
 
 
Projects Completed During The Six Months Ended June 30, 2018
 
 
 
 
 
6

Stony Brook I & II
 
Louisville/Jefferson County, KY-IN
 
 
Reconfigure approximately 15K SF of small shop space to accommodate expansion of existing Kroger to 116K SF Kroger Marketplace
 
 
7

Commons of Chicago Ridge
 
Chicago-Naperville-Elgin, IL-IN-WI
 
 
Remerchandise former Office Depot with a 28K SF Ross Dress for Less
 
 
8

Haymarket Square & Haymarket Mall
 
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
 
 
9

Hampton Village Centre - Project II
 
Detroit-Warren-Dearborn, MI
 
 
Relocate and reconfigure four small shop spaces to accommodate a 14K SF Petco
 
 
10

Wadsworth Crossings
 
Cleveland-Elyria, OH
 
 
Remerchandise former MC Sports with a 15K SF Planet Fitness
 
 
11

The Commons at Wolfcreek - Project I
 
Memphis, TN-MS-AR
 
 
Remerchandise former Sports Authority with a 44K SF Dave & Busters and a 9K SF Skechers
 
 
12

Clear Lake Camino South
 
Houston-The Woodlands-Sugar Land, TX
 
 
Remerchandise former Hancock Fabrics and adjacent small shop spaces with a 22K SF ALDI
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of Projects
 
Net Project
Costs (1)
 
NOI Yield (1)
 
 
 
 
 
 
 
 
Total Completed
12

 
$
20,638
 
 
13
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Represents gross project costs less any project specific credits (lease termination fees or other ancillary credits).
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The in process projects listed above are actively underway and reflect projects for 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 net estimated costs or expected NOI yields will be the amounts shown. The net estimated 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, 2017.

Supplemental Disclosure - Three Months Ended September 30, 2018
Page 22
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OUTPARCEL DEVELOPMENT & NEW DEVELOPMENT SUMMARY
Dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
OUTPARCEL DEVELOPMENTS:
 
 
 
 
 
 Net
 
 Gross
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Stabilization
 
 Estimated
 
 Costs
 
Expected
 
 
 
Property Name
 
MSA
 
Project Description
 
Quarter
 
 Costs (2)
 
 to Date
 
NOI Yield (2)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
IN PROCESS OUTPARCEL DEVELOPMENTS (1)
 
 
 
 
 
 
 
 
 
 
 
New Projects Added To In Process Pipeline During The Three Months Ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
1
Milestone Plaza
 
Greenville-Anderson-Mauldin, SC
 
Construction of a 5K SF Panera
 
Mar-19
 
$
500

 
$
101

 
8%
 
 
2
Fry Road Crossing
 
Houston-The Woodlands-Sugar Land, TX
 
Construction of a 4K SF Freddy's Frozen Custard and Steakburgers
 
Mar-19
 
100

 
70

 
89%
 
 
3
The Shoppes at Cinnaminson
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
Construction of a 3K SF Chase
 
Jun-19
 
1,200

 
947

 
14%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
In Process Projects
 
 
 
 
 
 
 
 
 
 
 
 
 
 
4
Dalewood I, II & III Shopping Center
 
New York-Newark-Jersey City, NY-NJ-PA
 
Construction of a 3K SF Shake Shack
 
Dec-18
 
2,900

 
2,590

 
15%
 
 
5
Parkway Plaza
 
Winston-Salem, NC
 
Construction of a 3K SF Biscuitville
 
Dec-18
 
600

 
35

 
18%
 
 
6
Westview Center
 
Chicago-Naperville-Elgin, IL-IN-WI
 
Construction of a 4K SF Andigo Credit Union
 
Mar-19
 
200

 
91

 
60%
 
 
7
Berkshire Crossing
 
Pittsfield, MA
 
Construction of a 5K SF Chili's
 
Mar-19
 
300

 
337

 
41%
 
 
8
Springfield Place
 
New York-Newark-Jersey City, NY-NJ-PA
 
Construction of a 4K SF multi-tenant outparcel with a 2K SF Chipotle and a 2K SF Motion Stretch Studio
 
Mar-19
 
3,100

 
2,717

 
8%
 
 
9
Arapahoe Crossings
 
Denver-Aurora-Lakewood, CO
 
Construction of a 6K SF multi-tenant outparcel with a 2K SF Dunkin' and a 4K SF Fuzzy's Taco Shop
 
Jun-19
 
2,400

 
1,005

 
9%
 
 
10
Banks Station
 
Atlanta-Sandy Springs-Roswell, GA
 
Construction of a 2K SF Del Taco
 
Jun-19
 
400

 
131


20%
 
 
11
Hanover Square
 
Richmond, VA
 
Construction of a 5K SF Panera and a 2K SF Chipotle
 
Mar-20
 
4,300

 
1,569

 
11%
 
 
12
Market Centre - Project II
 
Elkhart-Goshen, IN
 
Construction of a 10K SF multi-tenant outparcel, including a 2K SF GNC and a 1K SF Cricket Wireless
 
Jun-20
 
3,100

 
1,785

 
9%
 
 
 
TOTAL IN PROCESS OUTPARCEL DEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE
 
 
 
 
 
$
19,100

 
$
11,378

 
12%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Stabilization
 
 
 
Net Project
 
 
 
 
 
Property Name
 
MSA
 
Project Description
 
Quarter
 
 
 
 Costs (2,3)
 
NOI Yield (2,3)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
COMPLETED OUTPARCEL DEVELOPMENTS
 
 
 
 
 
 
 
 
 
 
 
 
 
Projects Completed During The Three Months Ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
1
Lake St. Charles
 
Tampa-St. Petersburg-Clearwater, FL
 
Construction of a 4K SF Speedy Carwash
 
Sep-18
 
 
 
$
62

 
130%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Projects Completed During The Six Months Ended June 30, 2018
 
 
 
 
 
 
 
 
 
 
2
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
 
Mar-18
 
 
 
4,426

 
12%
 
 
3
Westchester Square
 
Kansas City, MO-KS
 
Construction of a 2K SF Starbucks outparcel
 
Mar-18
 
 
 
1,061

 
12%
 
 
4
Orange Grove
 
Houston-The Woodlands-Sugar Land, TX
 
Construction of a 4K SF Chick-fil-A outparcel
 
Jun-18
 
 
 
81

 
155%
 
 
 
TOTAL COMPLETED OUTPARCEL DEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE
 
 
 
 
 
 
 
$
5,630

 
15%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NEW DEVELOPMENTS:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Stabilization
 
 
 
Net Project
 
 
 
 
 
Property Name
 
MSA
 
Project Description
 
Quarter
 
 
 
 Costs (2,3)
 
NOI Yield (2,3)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
COMPLETED NEW DEVELOPMENTS
 
 
 
 
 
 
 
 
 
 
 
 
 
Projects Completed During The Three Months Ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
1
The Shops at Riverhead
 
New York-Newark-Jersey City, NY-NJ-PA
 
Construction of a 42K SF Marshalls / HomeGoods combo store, a 38K SF HomeSense (TJX), an 18K SF PetSmart, a 10K SF ULTA, a 12K SF multi-tenant retail building adjacent to an existing non-owned Costco and solar array installation
 
Sep-18
 
 
 
$
39,301

 
9%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) The project at Lagniappe Village was removed from In Process pipeline due to sale of property during the quarter.
 
 
 
 
 
 
 
(2) Represents gross project costs less any project specific credits (lease termination fees or other ancillary credits).
 
 
 
 
 
 
 
(3) Net project costs and NOI yields may vary from those previously disclosed due to final project reconciliations.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The in process projects listed above are actively underway and reflect projects for 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 net estimated costs or expected NOI yields will be the amounts shown or that stabilization will occur as anticipated. The net estimated 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, 2017.

Supplemental Disclosure - Three Months Ended September 30, 2018
Page 23
jpgstandardlogoa21.jpg




REDEVELOPMENT SUMMARY
 
Dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net
 
Gross
 
Expected
 
 
 
 
 
 
 
 
Property
 
Stabilization
 
Estimated
 
Costs
 
NOI
 
 
Property Name
 
MSA
 
Project Description
 
Acreage
 
Quarter
 
Costs (1)
 
to Date
 
Yield (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
IN PROCESS REDEVELOPMENTS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
New Projects Added To In Process Pipeline During The Three Months Ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1

 Village at Newtown
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
Expansion and renovation of center including 60K SF of new construction; remerchandise existing small shop retail; and shopping center upgrades including façade, common areas and infrastructure enhancements
 
30
 
Dec-20
 
$
37,100

 
$
10,241

 
9
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
In Process Projects
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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; construction of a 4K SF Panera outparcel with drive-thru; and solar array installation
 
53
 
Dec-18
 
9,300

 
9,027

 
9
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
3

Speedway Super Center - Phase I
 
Indianapolis-Carmel-Anderson, IN
 
Redevelopment of underutilized retail space to accommodate a 40K SF Burlington, a 22K SF Ross Dress for Less and a 9K SF Five Below; potential construction of an outparcel pad; and shopping center upgrades including façade renovations and updated parking
 
66
 
Dec-18
 
12,600

 
10,947

 
9
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
4

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 a 34K SF LA Fitness, an outparcel retail building and a 4K SF endcap; and shopping center upgrades including façade renovations and common area enhancements
 
31
 
Dec-18 / Dec-19
 
31,000

 
23,429

 
8
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5

Rose Pavilion - Phase II
 
San Francisco-Oakland-Hayward, CA
 
Remerchandise former Toscana Furniture with an 8K SF Pet Supplies Plus; expansion of existing Fitness 19 and Phenix Salon Suites; and shopping center upgrades including façade and common area enhancements and solar array installation
 
27
 
Mar-19
 
6,500

 
4,441

 
10
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
6

Collegeville Shopping Center
 
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-19
 
5,500

 
1,521

 
12
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
7

High Point Centre
 
Chicago-Naperville-Elgin, IL-IN-WI
 
Redevelopment of 40K SF of poorly configured retail space with a 34K SF LA Fitness and 2K SF of small shops; construction of a 5K SF outparcel; and shopping center upgrades including new landscaping
 
35
 
Sep-19
 
10,500

 
3,124

 
9
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
8

Marlton Crossing
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
Redevelopment and rightsize existing Burlington to 51K SF prototype to accommodate addition of a 33k SF Sprouts Farmers Market; remerchandise former Champps with a 10K SF Chickie & Pete's; and shopping center upgrades including parking reconfiguration, an additional outparcel, and new façades
 
34
 
Sep-19
 
16,100

 
5,764

 
7
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
9

Braes Heights
 
Houston-The Woodlands-Sugar Land, TX
 
Expansion of existing My Salon Suite to 12K SF; remerchandise shopping center with new relevant retailers; shopping center upgrades including full center façade renovation, parking reconfiguration, pylon sign improvements and new landscaping
 
6
 
Sep-19
 
6,500

 
2,186

 
8
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
10

Village at Mira Mesa - Phase I (2)
 
San Diego-Carlsbad, CA
 
Remerchandise and expand former Kohl’s with a 32K SF Sprouts Farmers Market, a 21K SF BevMo! and construction of 19K SF of additional retail space; demolish existing outparcel to accommodate construction of a 6K SF multi-tenant retail building; addition of outdoor dining patios and gathering areas; shopping center upgrades including façade, new landscaping, parking realignment, point of entry and pylon sign improvements; and sustainable features including solar array installation, LED lighting, smart irrigation and lighting control, integrated mesh network systems and electric vehicle charging stations
 
36
 
Dec-19
 
21,000

 
7,766

 
9
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11

Beneva Village Shoppes
 
North Port-Sarasota-Bradenton, FL
 
Demolish and rebuild 30-year old 42K SF Publix with a 46K SF Publix prototype and new endcap space next to Publix; right-size small shop GLA by 6K SF; and shopping center upgrades include façade, landscaping and parking enhancements; and sustainable features including smart irrigation and LED Lighting
 
14
 
Dec-19
 
10,500

 
1,783

 
10
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12

Mamaroneck Centre
 
New York-Newark-Jersey City, NY-NJ-PA
 
Redevelopment of former A&P with a 12K SF CVS and a 13K SF North Shore Farms; demolish adjacent 5K SF residential building (acquired in anticipation of redevelopment) to accommodate construction of 12K SF of small shop retail; shopping center upgrades including landscaping, storm water and parking enhancements and LED lighting
 
2
 
Jun-20
 
11,100

 
5,704

 
11
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
13

Wynnewood Village - Phase I
 
Dallas-Fort Worth-Arlington, TX
 
Raze existing 44K SF office building and relocate / terminate existing shops; ground up construction of a 34K SF LA Fitness and 73K SF Maya Cinemas
 
65
 
Jun-20
 
21,400

 
3,667

 
8
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL IN PROCESS REDEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE
 
 
 
 
 
$
199,100

 
$
89,601

 
9

Supplemental Disclosure - Three Months Ended September 30, 2018
Page 24
jpgstandardlogoa21.jpg




REDEVELOPMENT SUMMARY
 
Dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property
 
Stabilization
 
 
 
Net Project
 
NOI
 
 
Property Name
 
MSA
 
Project Description
 
Acreage
 
Quarter
 
 
 
Costs (1,3)
 
Yield (1,3)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
COMPLETED REDEVELOPMENTS
 
 
 
 
 
 
 
 
 
 
 
 
 
Projects Completed During The Three Months Ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1

 Ventura Downs
 
Orlando-Kissimmee-Sanford, FL
 
Redevelopment and rebranding of center including replacing a dark anchor with a 42K SF LA Fitness and remerchandising adjacent small shop space; and shopping center upgrades including façade renovations and LED lighting
 
11
 
Sep-18
 
 
 
$
6,600

 
8
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Projects Completed During The Six Months Ended June 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2

Erie Canal Centre
 
Syracuse, NY
 
Redevelopment of former Kmart and other vacant anchor space with a 50K SF Dick’s Sporting Goods, a 40K SF Burlington and a 26K SF Michaels; potential construction of 8K SF of small shop space and outparcel pad; and shopping center upgrades including façade, pylon sign and common area enhancements, LED lighting, parking realignment and new landscaping
 
11
 
Mar-18
 
 
 
18,700

 
8
 
3

Sagamore Park Centre
 
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 space 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 and common area enhancements, LED lighting and new landscaping
 
14
 
Jun-18
 
 
 
1,700

 
15
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL COMPLETED REDEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE
 
 
 
 
 


 
$
27,000

 
8
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Represents gross project costs less any project specific credits (lease termination fees or other ancillary credits).
 
 
 
 
 
 
 
 
 
(2) Net estimated costs exclude $3 million of project specific credits (lease termination fees or other ancillary credits).
 
 
 
 
 
 
 
 
 
(3) Net project costs and NOI yields may vary from those previously disclosed due to final project reconciliations.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The in process projects listed above are actively underway and reflect projects for 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 net estimated costs or expected NOI yields will be the amounts shown or that stabilization will occur as anticipated. The net estimated 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, 2017.
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2018
Page 25
jpgstandardlogoa21.jpg




FUTURE REDEVELOPMENT OPPORTUNITIES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
MSA
 
Project Description
 
 
 
 
 
 
 
 
 
 
MAJOR REDEVELOPMENTS
 
 
 
1

Springdale - Phase III
 
Mobile, AL
 
Further repositioning 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

Village at Mira Mesa - Phase II
 
San Diego-Carlsbad, CA
 
Redevelopment of outparcels for multiple retailers and/or restaurants, potential construction of residential rental component, enhancement of common areas
 
 
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 junior anchors, outparcel development
 
 
7

Mansell Crossing
 
Atlanta-Sandy Springs-Roswell, GA
 
Redevelopment of existing anchor space and adjacent retail space for multiple retailers
 
 
8

Northeast Plaza
 
Atlanta-Sandy Springs-Roswell, GA
 
Extensive repositioning and reconfiguration, densification of site
 
 
9

Speedway Super Center - Phase II
 
Indianapolis-Carmel-Anderson, IN
 
Rebranding of shopping center, including reconfiguration of existing footprint for multiple retailers, potential outparcel development
 
 
10

Arborland Center
 
Ann Arbor, MI
 
Redevelopment and repositioning of shopping center, densification of site
 
 
11

Richfield Hub
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
Redevelopment and repositioning of shopping center, densification of site
 
 
12

Roosevelt Mall
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
Extensive repositioning and reconfiguration, densification of site
 
 
13

Market Plaza
 
Dallas-Fort Worth-Arlington, TX
 
Extensive redevelopment and repositioning of shopping center, remerchandise with multiple retailers
 
 
14

Spring Mall
 
Milwaukee-Waukesha-West Allis, WI
 
Extensive redevelopment and reconfiguration of shopping center, potential outparcel development
 
 
 
 
 
 
 
 
 
 
MINOR REDEVELOPMENTS
 
 
 
1

Carmen Plaza
 
Oxnard-Thousand Oaks-Ventura, CA
 
Reconfiguration of obsolete space and repurpose for national retailers, enhancement of common areas, sustainability upgrades
 
 
2

Venetian Isle Shopping Ctr
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
Redevelopment of existing anchor space for new anchor prototype, potential outparcel development
 
 
3

Freedom Square
 
Naples-Immokalee-Marco Island, FL
 
Redevelopment of existing anchor space for multiple retailers and/or entertainment users, potential outparcel development
 
 
4

Marco Town Center
 
Naples-Immokalee-Marco Island, FL
 
Remerchandise with experiential retailers, reconfiguration of common areas for community space
 
 
5

Pointe Orlando
 
Orlando-Kissimmee-Sanford, FL
 
Redevelopment, densification and rebranding for multiple retailers and/or entertainment users
 
 
6

Clearwater Mall
 
Tampa-St. Petersburg-Clearwater, FL
 
Redevelopment of existing anchor space and adjacent retail space for multiple retailers
 
 
7

Seminole Plaza
 
Tampa-St. Petersburg-Clearwater, FL
 
Reposition and remerchandise existing anchor space for multiple retailers
 
 
8

Tyrone Gardens
 
Tampa-St. Petersburg-Clearwater, FL
 
Rebranding of shopping center, including reconfiguration of small shop space
 
 
9

Tinley Park Plaza
 
Chicago-Naperville-Elgin, IL-IN-WI
 
Reconfiguration of existing footprint for multiple retailers and/or entertainment users, outparcel development
 
 
10

Westridge Court - Project I (1)
 
Chicago-Naperville-Elgin, IL-IN-WI
 
Redevelopment of existing anchor space for multiple retailers
 
 
11

Westridge Court - Project II (1)
 
Chicago-Naperville-Elgin, IL-IN-WI
 
Redevelopment of existing pad building for restaurant use, enhancement of common areas
 
 
12

Market Centre - Project III
 
Elkhart-Goshen, IN
 
Densification of site, including several multi-tenant outparcel buildings
 
 
13

London Marketplace
 
London, KY
 
Reposition and remerchandise existing anchor space for multiple retailers, potential outparcel development
 
 
14

Webster Square Shopping Center
 
Boston-Cambridge-Newton, MA-NH
 
Redevelopment of existing pad building for multiple retailers
 
 
15

Redford Plaza - Project II
 
Detroit-Warren-Dearborn, MI
 
Redevelopment of existing anchor space for multiple retailers, potential outparcel development, façade renovations
 
 
16

Roseville Center
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
Reconfigure and repurpose obsolete space, remerchandise with relevant and national retailers
 
 
17

Capitol Shopping Center
 
Concord, NH
 
Redevelopment of existing anchor space for multiple retailers
 
 
18

Bedford Grove - Project II
 
Manchester-Nashua, NH
 
Redevelopment of existing anchor space for multiple retailers, potential outparcel development, enhancement of common areas
 
 
19

Hamilton Plaza
 
Trenton, NJ
 
Redevelopment of existing anchor space for multiple retailers, potential outparcel development
 
 
20

Laurel Square - Project II
 
New York-Newark-Jersey City, NY-NJ-PA
 
Redevelopment of existing anchor space for multiple retailers, enhancement of common areas
 
 
21

Stewart Plaza
 
New York-Newark-Jersey City, NY-NJ-PA
 
Reconfigure existing anchor space and remerchandise for multiple retailers
 
 
22

Western Hills Plaza
 
Cincinnati, OH-KY-IN
 
Redevelopment of existing anchor space for multiple retailers, enhancement of common areas
 

Supplemental Disclosure - Three Months Ended September 30, 2018
Page 26
jpgstandardlogoa21.jpg




FUTURE REDEVELOPMENT OPPORTUNITIES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
MSA
 
Project Description
 
 
 
 
 
 
 
 
 
 
23

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

Collegetown Shopping Center
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
Redevelopment of existing anchor spaces for multiple retailers, potential outparcel development, enhancement of common areas
 
 
25

Whitemarsh Shopping Center
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
Densification of site, including outparcel development
 
 
26

Hillcrest Market Place (1)
 
Spartanburg, SC
 
Redevelopment of existing anchor space for multiple retailers, potential outparcel development, enhancement of common areas
 
 
27

The Commons at Wolfcreek - Project III
 
Memphis, TN-MS-AR
 
Redevelopment of existing anchor space for multiple retailers, potential outparcel development
 
 
28

Carmel Village
 
Corpus Christi, TX
 
Redevelopment of existing anchor space for multiple retailers, potential outparcel development, façade renovations
 
 
29

Kessler Plaza
 
Dallas-Fort Worth-Arlington, TX
 
Remerchandise former discount grocer and existing small shop space
 
 
30

Preston Park Village
 
Dallas-Fort Worth-Arlington, TX
 
Repurpose, assemble and reposition for national retail merchandise mix, densification of site, enhancement of common areas
 
 
31

Jester Village
 
Houston-The Woodlands-Sugar Land, TX
 
Redevelopment of existing anchor space for multiple retailers, enhancement of common areas
 
 
 
 
 
 
 
 
 
(1) Indicates project added to pipeline during the three months ended September 30, 2018.
 
 
 
 
 
 
 
 
 
 
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, 2017.
 

Supplemental Disclosure - Three Months Ended September 30, 2018
Page 27
jpgstandardlogoa21.jpg




 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PORTFOLIO SUMMARY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure
Three Months Ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Individual values herein may not add up to totals due to rounding.





PORTFOLIO OVERVIEW
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
As of:
 
 
 
 
 
 
 
 
 
9/30/18
 
6/30/18
 
3/31/18
 
12/31/17
 
9/30/17
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of properties
 
 
445

 
471

 
480

 
486

 
498

 
 
 
 
 
GLA
 
 
76,577,108

 
79,997,289

 
81,732,582

 
82,812,209

 
84,091,870

 
 
 
 
 
Percent billed
 
 
89.4%

 
89.4%

 
89.8%

 
90.3%

 
89.6%

 
 
 
 
 
Percent leased
 
 
92.5%

 
92.5%

 
92.1%

 
92.2%

 
91.6%

 
 
 
 
 
 
TOTAL ≥ 10,000 SF
 
 
95.5%

 
95.6%

 
95.4%

 
95.5%

 
94.7%

 
 
 
 
 
 
TOTAL < 10,000 SF
 
 
85.5%

 
85.1%

 
84.4%

 
84.5%

 
84.4%

 
 
 
 
 
ABR
 
 
$
911,116

 
$
941,392

 
$
943,734

 
$
949,568

 
$
945,721

 
 
 
 
 
ABR PSF
 
 
$
13.89

 
$
13.73

 
$
13.61

 
$
13.47

 
$
13.28

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PORTFOLIO BY UNIT SIZE AS OF 9/30/18
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of
Units
 
GLA
 
Percent Billed
 
Percent Leased
 
Percent of Vacant GLA
 
 ABR
 
ABR PSF
 
 
 
 
≥ 35,000 SF
503

 
30,447,110

 
94.0%

 
96.3%

 
19.4%

 
$
245,258

 
$
9.73

 
 
 
 
20,000 - 34,999 SF
520

 
13,675,153

 
91.5%

 
95.6%

 
10.3%

 
136,276

 
10.58

 
 
 
 
10,000 - 19,999 SF
673

 
9,211,416

 
88.8%

 
92.6%

 
11.8%

 
113,501

 
13.67

 
 
 
 
5,000 - 9,999 SF
1,250

 
8,626,043

 
84.5%

 
86.9%

 
19.5%

 
123,805

 
17.24

 
 
 
 
< 5,000 SF
6,978

 
14,617,386

 
81.2%

 
84.6%

 
38.9%

 
292,276

 
24.36

 
 
 
 
TOTAL
9,924

 
76,577,108

 
89.4%

 
92.5%

 
100.0%

 
$
911,116

 
$
13.89

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL ≥ 10,000 SF
1,696

 
53,333,679

 
92.5%

 
95.5%

 
41.6%

 
$
495,035

 
$
10.67

 
 
 
 
TOTAL < 10,000 SF
8,228

 
23,243,429

 
82.4%

 
85.5%

 
58.4%

 
416,081

 
21.69

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Reflects portfolio statistics as reported for the specified period.
 
 
 
 
 
 
 
 




Supplemental Disclosure - Three Months Ended September 30, 2018
Page 29
jpgstandardlogoa21.jpg




TOP FORTY RETAILERS RANKED BY ABR
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
Retailer
 
Owned Leases
 
Leased GLA
 
Percent of Total
Portfolio GLA
 
Leased ABR
 
Portfolio Leased ABR
 
 ABR PSF

 
 
 
 
1

The TJX Companies, Inc. (1)
 
87

 
2,726,516

 
3.6
%
 
$
29,954

 
3.3
%
 
$
10.99

 
 
 
 
2

The Kroger Co. (2)
 
57

 
3,791,065

 
5.0
%
 
26,671

 
2.9
%
 
7.04

 
 
 
 
3

Dollar Tree Stores, Inc. (3)
 
139

 
1,576,804

 
2.1
%
 
16,550

 
1.8
%
 
10.50

 
 
 
 
4

Ahold Delhaize (4)
 
24

 
1,296,798

 
1.7
%
 
13,366

 
1.5
%
 
10.31

 
 
 
 
5

Publix Super Markets, Inc.
 
31

 
1,377,761

 
1.8
%
 
12,968

 
1.4
%
 
9.41

 
 
 
 
6

Burlington Stores, Inc.
 
22

 
1,445,065

 
1.9
%
 
12,226

 
1.3
%
 
8.46

 
 
 
 
7

Albertson's Companies, Inc. (5)
 
20

 
1,122,477

 
1.5
%
 
11,956

 
1.3
%
 
10.65

 
 
 
 
8

Wal-Mart Stores, Inc. (6)
 
20

 
2,437,380

 
3.2
%
 
10,569

 
1.2
%
 
4.34

 
 
 
 
9

Ross Stores, Inc. (7)
 
32

 
870,967

 
1.1
%
 
10,005

 
1.1
%
 
11.49

 
 
 
 
10

L.A. Fitness International, LLC
 
14

 
595,515

 
0.8
%
 
9,636

 
1.1
%
 
16.18

 
 
 
 
 
 
 
446

 
17,240,348

 
22.7
%
 
153,901

 
16.9
%
 
8.93

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11

Bed Bath & Beyond, Inc. (8)
 
30

 
747,716

 
1.0
%
 
9,472

 
1.0
%
 
12.67

 
 
 
 
12

PetSmart, Inc.
 
27

 
614,754

 
0.8
%
 
9,259

 
1.0
%
 
15.06

 
 
 
 
13

Big Lots, Inc.
 
41

 
1,356,569

 
1.8
%
 
8,871

 
1.0
%
 
6.54

 
 
 
 
14

PETCO Animal Supplies, Inc. (9)
 
37

 
493,798

 
0.6
%
 
8,420

 
0.9
%
 
17.05

 
 
 
 
15

Best Buy Co., Inc.
 
15

 
613,462

 
0.8
%
 
8,273

 
0.9
%
 
13.49

 
 
 
 
16

Office Depot, Inc. (10)
 
29

 
627,576

 
0.8
%
 
6,952

 
0.8
%
 
11.08

 
 
 
 
17

The Michaels Companies, Inc.
 
26

 
581,254

 
0.8
%
 
6,814

 
0.7
%
 
11.72

 
 
 
 
18

Kohl's Corporation
 
11

 
907,322

 
1.2
%
 
6,787

 
0.7
%
 
7.48

 
 
 
 
19

Party City Holdco Inc.
 
34

 
486,582

 
0.6
%
 
6,627

 
0.7
%
 
13.62

 
 
 
 
20

Ulta Beauty, Inc.
 
25

 
283,429

 
0.4
%
 
6,389

 
0.7
%
 
22.54

 
 
 
 
 
 
 
721

 
23,952,810

 
31.5
%
 
231,765

 
25.3
%
 
9.68

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
21

Staples, Inc.
 
23

 
476,124

 
0.6
%
 
5,959

 
0.7
%
 
12.52

 
 
 
 
22

Sears Holdings Corporation (11)
 
11

 
1,096,294

 
1.4
%
 
5,222

 
0.6
%
 
4.76

 
 
 
 
23

The Home Depot, Inc.
 
7

 
687,541

 
0.9
%
 
5,204

 
0.6
%
 
7.57

 
 
 
 
24

DICK's Sporting Goods, Inc. (12)
 
10

 
372,043

 
0.5
%
 
5,155

 
0.6
%
 
13.86

 
 
 
 
25

Ascena Retail Group, Inc. (13)
 
46

 
283,104

 
0.4
%
 
5,131

 
0.6
%
 
18.12

 
 
 
 
26

Mattress Firm, Inc.
 
38

 
223,700

 
0.3
%
 
5,056

 
0.6
%
 
22.60

 
 
 
 
27

Hobby Lobby Stores, Inc.
 
14

 
769,163

 
1.0
%
 
5,047

 
0.6
%
 
6.56

 
 
 
 
28

CVS Health
 
20

 
267,257

 
0.3
%
 
4,917

 
0.5
%
 
18.40

 
 
 
 
29

Five Below, Inc.
 
28

 
241,256

 
0.3
%
 
4,590

 
0.5
%
 
19.03

 
 
 
 
30

H.E. Butt Grocery Company (14)
 
6

 
368,237

 
0.5
%
 
4,569

 
0.5
%
 
12.41

 
 
 
 
31

Southeastern Grocers (15)
 
12

 
568,562

 
0.7
%
 
4,534

 
0.5
%
 
7.97

 
 
 
 
32

JOANN Stores, Inc.
 
21

 
415,255

 
0.5
%
 
4,390

 
0.5
%
 
10.57

 
 
 
 
33

DSW Inc.
 
14

 
268,691

 
0.4
%
 
4,376

 
0.5
%
 
16.29

 
 
 
 
34

Sally Beauty Holdings, Inc. (16)
 
106

 
188,182

 
0.2
%
 
4,346

 
0.5
%
 
23.09

 
 
 
 
35

Giant Eagle, Inc.
 
5

 
391,503

 
0.5
%
 
4,285

 
0.5
%
 
10.94

 
 
 
 
36

AMC Entertainment Holdings, Inc.
 
4

 
214,355

 
0.3
%
 
4,151

 
0.5
%
 
19.37

 
 
 
 
37

Gap, Inc. (17)
 
15

 
236,332

 
0.3
%
 
4,144

 
0.5
%
 
17.53

 
 
 
 
38

Barnes & Noble, Inc.
 
10

 
224,673

 
0.3
%
 
4,023

 
0.4
%
 
17.91

 
 
 
 
39

JP Morgan Chase & Co.
 
28

 
101,202

 
0.1
%
 
3,916

 
0.4
%
 
38.69

 
 
 
 
40

Wakefern Food Corporation (18)
 
6

 
307,332

 
0.4
%
 
3,858

 
0.4
%
 
12.55

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL TOP 40 RETAILERS
 
1,145

 
31,653,616

 
41.4
%
 
$
324,638

 
35.8
%
 
$
10.26

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Includes T.J. Maxx-41, Marshalls-34, HomeGoods-10, HomeSense-1 and Sierra
 
(5) Includes Vons-4, Acme-3, Randalls-3, Albertsons-2, Jewel-Osco-2,
 
(11) Includes Kmart-9 and Sears-2.
 
 
Trading Post-1.
 
Shaw's-2, Tom Thumb-2, Shop & Save Market-1 and Star Market-1.
 
(12) Includes DICK'S Sporting Goods-6 and Golf Galaxy-4.
 
 
(2) Includes Kroger-44, King Soopers-3, Harris Teeter-3, Ralphs-2, Pick ' N Save-2,
 
(6) Includes Supercenters-11, Discount Stores-5, Walmart Neighborhood
 
(13) Includes dressbarn-16, Catherines-9, Justice-7, Lane Bryant-7,
 
 
Dillons-1, Food 4 Less-1 and Pay Less-1
 
Market-3 and Sam's Club-1
 
maurices-5, Ann Taylor-1 and Roz & Ali-1
 
 
(3) Includes Dollar Tree-113, Family Dollar-25 and Deals$-1.
 
(7) Includes Ross Dress for Less-29 and dd's Discounts-3.
 
(14) Includes H-E-B-5 and Central Market-1.
 
 
(4) Includes Giant Food-7, Super Stop & Shop-7, Food Lion-5, Stop & Shop-2,
 
(8) Includes Bed Bath & Beyond-16, Harmon Face Values-6, Christmas
 
(15) Includes Winn-Dixie-6, BI-LO-3, Harveys-2 and Fresco y Más-1.
 
 
Bottom Dollar Food-1, Hannaford-1 and Tops Market-1. Excludes one lease
 
Tree Shops-4, Cost Plus World Market-2 and buybuy Baby-2.
 
(16) Includes Sally Beauty-97, Cosmoprof-8 and Macon Beauty Systems-1.
 
where retailer is guarantor.
 
(9) Includes PETCO-36 and Unleashed-1.
 
(17) Includes Old Navy-11, GAP Factory-3 and Banana Republic-1.
 
 
 
 
(10) Includes Office Depot-15 and OfficeMax-14.
 
(18) Includes ShopRite-3 and PriceRite-3.
 

Supplemental Disclosure - Three Months Ended September 30, 2018
Page 30
jpgstandardlogoa21.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 PSF
 
 
 
 
Leases
 
GLA
 
New ABR PSF
 
Old ABR PSF
 
Rent
Spread
 
 
 
 
TOTAL - NEW, RENEWAL & OPTION LEASES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 9/30/18
 
509

 
3,135,370

 
$
45,587

 
$
14.54

 
$
6.97

 
$
1.31

 
6.0

 
411

 
2,805,889

 
$
14.10

 
$
12.58

 
12.1
 
 
 
 
Three months ended 6/30/18
 
576

 
3,396,474

 
50,355

 
14.83

 
7.60

 
1.37

 
6.6

 
477

 
2,754,832

 
14.99

 
13.48

 
11.2
 
 
 
 
Three months ended 3/31/18
 
440

 
2,745,080

 
39,606

 
14.43

 
8.90

 
1.63

 
7.3

 
371

 
2,228,858

 
14.76

 
12.89

 
14.5
 
 
 
 
Three months ended 12/31/17
 
461

 
2,918,966

 
42,641

 
14.61

 
7.35

 
1.24

 
6.0

 
381

 
2,537,208

 
14.41

 
12.65

 
13.9
 
 
 
 
TOTAL - TTM
 
1,986

 
12,195,890

 
$
178,189

 
$
14.61

 
$
7.67

 
$
1.38

 
6.5

 
1,640

 
10,326,787

 
$
14.55

 
$
12.91

 
12.7
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NEW & RENEWAL LEASES ONLY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 9/30/18
 
436

 
2,238,581

 
$
34,535

 
$
15.43

 
$
9.76

 
$
1.84

 
6.4

 
338

 
1,909,100

 
$
14.93

 
$
13.17

 
13.4
 
 
 
 
Three months ended 6/30/18
 
464

 
2,077,701

 
34,534

 
16.62

 
12.23

 
2.19

 
7.6

 
365

 
1,436,059

 
17.73

 
15.51

 
14.3
 
 
 
 
Three months ended 3/31/18
 
395

 
2,046,088

 
31,087

 
15.19

 
11.94

 
2.19

 
8.0

 
326

 
1,529,866

 
15.93

 
13.65

 
16.7
 
 
 
 
Three months ended 12/31/17
 
412

 
2,318,617

 
35,039

 
15.11

 
9.23

 
1.57

 
6.3

 
332

 
1,936,859

 
14.96

 
12.90

 
16.0
 
 
 
 
TOTAL - TTM
 
1,707

 
8,680,987

 
$
135,195

 
$
15.57

 
$
10.72

 
$
1.93

 
7.0

 
1,361

 
6,811,884

 
$
15.75

 
$
13.69

 
15.0
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NEW LEASES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 9/30/18
 
157

 
875,425

 
$
12,937

 
$
14.78

 
$
21.76

 
$
4.53

 
9.1

 
62

 
555,850

 
$
12.84

 
$
9.19

 
39.7
 
 
 
 
Three months ended 6/30/18
 
176

 
1,013,676

 
15,093

 
14.89

 
23.52

 
4.46

 
9.6

 
80

 
381,233

 
16.40

 
12.74

 
28.7
 
 
 
 
Three months ended 3/31/18
 
151

 
1,042,526

 
15,090

 
14.47

 
21.11

 
4.29

 
10.2

 
82

 
526,304

 
15.91

 
11.64

 
36.7
 
 
 
 
Three months ended 12/31/17
 
146

 
872,645

 
14,131

 
16.19

 
20.62

 
4.15

 
9.2

 
67

 
493,973

 
16.48

 
11.55

 
42.7
 
 
 
 
TOTAL - TTM
 
630

 
3,804,272

 
$
57,251

 
$
15.05

 
$
21.79

 
$
4.36

 
9.6

 
291

 
1,957,360

 
$
15.28

 
$
11.14

 
37.2
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
RENEWAL LEASES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 9/30/18
 
279

 
1,363,156

 
$
21,597

 
$
15.84

 
$
2.06

 
$
0.10

 
4.7

 
276

 
1,353,250

 
$
15.79

 
$
14.80

 
6.7
 
 
 
 
Three months ended 6/30/18
 
288

 
1,064,025

 
19,441

 
18.27

 
1.47

 
0.03

 
5.6

 
285

 
1,054,826

 
18.22

 
16.51

 
10.4
 
 
 
 
Three months ended 3/31/18
 
244

 
1,003,562

 
15,997

 
15.94

 
2.40

 
-

 
5.6

 
244

 
1,003,562

 
15.94

 
14.70

 
8.4
 
 
 
 
Three months ended 12/31/17
 
266

 
1,445,972

 
20,908

 
14.46

 
2.35

 
0.01

 
4.6

 
265

 
1,442,886

 
14.44

 
13.37

 
8.0
 
 
 
 
TOTAL - TTM
 
1,077

 
4,876,715

 
$
77,943

 
$
15.98

 
$
2.09

 
$
0.04

 
5.0

 
1,070

 
4,854,524

 
$
15.94

 
$
14.73

 
8.2
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
OPTION LEASES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 9/30/18
 
73

 
896,789

 
$
11,053

 
$
12.32

 
$ -

 
$ -

 
5.1

 
73

 
896,789

 
$
12.32

 
$
11.34

 
8.6
 
 
 
 
Three months ended 6/30/18
 
112

 
1,318,773

 
15,821

 
12.00

 
0.30

 
0.08

 
5.2

 
112

 
1,318,773

 
12.00

 
11.28

 
6.4
 
 
 
 
Three months ended 3/31/18
 
45

 
698,992

 
8,519

 
12.19

 
-

 
-

 
5.3

 
45

 
698,992

 
12.19

 
11.23

 
8.5
 
 
 
 
Three months ended 12/31/17
 
49

 
600,349

 
7,602

 
12.66

 
0.08

 
-

 
5.0

 
49

 
600,349

 
12.66

 
11.82

 
7.1
 
 
 
 
TOTAL - TTM
 
279

 
3,514,903

 
$
42,995

 
$
12.23

 
$
0.13

 
$
0.03

 
5.2

 
279

 
3,514,903

 
$
12.23

 
$
11.38

 
7.5
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
LEASES BY ANCHOR AND SMALL SHOP
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended 9/30/18
 
 
 
TTM Ended 9/30/18
 
 
 
 
 
 
 
 
% of Leases
 
% of GLA
 
% of ABR
 
New ABR PSF
 
Rent Spread (2)
 
 
 
% of Leases
 
% of GLA
 
% of ABR
 
New ABR PSF
 
Rent Spread (2)
 
 
 
Anchor Leases (≥ 10,000 SF)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total - New, Renewal & Option Leases
 
15
%
 
62
%
 
45
%
 
$
10.52

 
11.7
%
 
 
 
14
%
 
63
%
 
45
%
 
$
10.46

 
12.8
 
 
 
 
New & Renewal Leases Only
 
11
%
 
57
%
 
40
%
 
10.72

 
13.9
%
 
 
 
11
%
 
56
%
 
38
%
 
10.66

 
17.5
 
 
 
 
New Leases
 
 
 
11
%
 
61
%
 
43
%
 
10.31

 
45.3
%
 
 
 
15
%
 
64
%
 
46
%
 
10.86

 
49.2
 
 
 
 
Renewal Leases
 
 
 
11
%
 
54
%
 
38
%
 
11.02

 
0.9
%
 
 
 
9
%
 
49
%
 
32
%
 
10.46

 
4.4
 
 
 
 
Option Leases
 
 
 
34
%
 
75
%
 
62
%
 
10.13

 
8.0
%
 
 
 
34
%
 
81
%
 
67
%
 
10.12

 
7.1
 
 
 
Small Shop Leases (< 10,000 SF)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total - New, Renewal & Option Leases
 
85
%
 
38
%
 
55
%
 
$
21.14

 
12.4
%
 
 
 
86
%
 
37
%
 
55
%
 
$
21.68

 
12.7
 
 
 
 
New & Renewal Leases Only
 
89
%
 
43
%
 
60
%
 
21.62

 
13.1
%
 
 
 
89
%
 
44
%
 
62
%
 
21.75

 
13.7
 
 
 
 
New Leases
 
 
 
89
%
 
39
%
 
57
%
 
21.78

 
29.6
%
 
 
 
85
%
 
36
%
 
54
%
 
22.61

 
27.5
 
 
 
 
Renewal Leases
 
 
 
89
%
 
46
%
 
62
%
 
21.54

 
10.5
%
 
 
 
91
%
 
51
%
 
68
%
 
21.29

 
10.2
 
 
 
 
Option Leases
 
 
 
66
%
 
25
%
 
38
%
 
19.03

 
9.9
%
 
 
 
66
%
 
19
%
 
33
%
 
21.25

 
8.5
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Includes tenant-specific landlord work.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(2) Comparable leases only.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Includes new development property. Excludes leases executed for terms of less than one year.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ABR PSF includes the GLA of lessee-owned leasehold improvements.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Reflects portfolio statistics as reported for the specified period.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2018
Page 31
jpgstandardlogoa21.jpg




NEW LEASE NET EFFECTIVE RENT & LEASES SIGNED BUT NOT YET COMMENCED
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NEW LEASE NET EFFECTIVE RENT
NEW LEASE NET EFFECTIVE RENT
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Twelve Months Ended
Three Months Ended
 
 
 
 
 
 
9/30/18
 
9/30/18
 
6/30/18
 
3/31/18
 
12/31/17
 
9/30/17
 
 
 
NEW LEASES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average over lease term:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Base rent
 
$ 16.04
 
$ 15.66
 
$ 16.08
 
$ 15.58
 
$ 16.94
 
$ 18.04
 
 
 
 
Tenant improvements and allowances
 
(2.30)
 
(2.38)
 
(2.43)
 
(2.24)
 
(2.17)
 
(2.53)
 
 
 
 
Tenant specific landlord work
 
(0.55)
 
(0.55)
 
(0.56)
 
(0.60)
 
(0.45)
 
(0.51)
 
 
 
 
Third party leasing commissions
 
(0.45)
 
(0.48)
 
(0.47)
 
(0.44)
 
(0.42)
 
(0.47)
 
 
 
EQUIVALENT NET EFFECTIVE RENT
 
$ 12.74
 
$ 12.25
 
$ 12.62
 
$ 12.30
 
$ 13.90
 
$ 14.53
 
 
 
Net effective rent / base rent
 
79%
 
78%
 
79%
 
79%
 
82%
 
81%
 
 
 
Weighted average term (years)
 
9.6
 
9.1
 
9.6
 
10.2
 
9.2
 
8.8
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PERCENT OF TOTAL EQUIVALENT NET EFFECTIVE RENT BY ANCHOR AND SMALL SHOP
 
 
 
 
 
 
 
 
 
 
≥ 10,000 SF
 
43%
 
39%
 
40%
 
45%
 
47%
 
39%
 
 
 
 
< 10,000 SF
 
57%
 
61%
 
60%
 
55%
 
53%
 
61%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
LEASES SIGNED BUT NOT YET COMMENCED
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of 9/30/18:
 
Leases
 
GLA
 
ABR
 
ABR PSF
 
 
 
 
 
 
 
 
≥ 10,000 SF
 
77
 
2,018,980
 
$ 24,017
 
$ 11.90
 
 
 
 
 
 
 
 
< 10,000 SF
 
287
 
788,175
 
20,394
 
25.87
 
 
 
 
 
 
 
 
TOTAL
 
364
 
2,807,155
 
$ 44,411
 
$ 15.82
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Includes new development property.
 
 
 
 
 
 
 
 
 
 
 
 
 
ABR PSF includes the GLA of lessee owned leasehold improvements.
 
 
 
 
 
 
 
 
 
 
 
 
 
Reflects portfolio statistics as reported for the specified period.
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2018
Page 32
jpgstandardlogoa21.jpg




LEASE EXPIRATION SCHEDULE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ASSUMES NO EXERCISE OF RENEWAL OPTIONS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL PORTFOLIO
 
 
SPACES ≥ 10,000 SF
 
 
SPACES < 10,000 SF
 
 
 
 
Number
 
 
 
% of
 
% of
 
 
 
ABR PSF
 
 
Number
 
 
 
% of
 
% of
 
 
 
ABR PSF
 
 
Number
 
 
 
% of
 
% of
 
 
 
ABR PSF
 
 
 
 
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 PSF
 
Expiration
 
 
Leases
 
GLA
 
GLA
 
ABR
 
ABR PSF
 
Expiration
 
 
Leases
 
GLA
 
GLA
 
ABR
 
ABR PSF
 
Expiration
 
 
M-M
 
334

 
977,390

 
1.4
 
1.5
%
 
$
14.06

 
$
14.06

 
 
11

 
285,706

 
0.6
%
 
0.5
%
 
$
8.03

 
$
8.03

 
 
323

 
691,684

 
3.5
%
 
2.8
%
 
$
16.55

 
$
16.55

 
 
2018
 
239

 
896,569

 
1.3
 
1.5
%
 
14.87

 
14.87

 
 
15

 
349,125

 
0.7
%
 
0.6
%
 
8.70

 
8.70

 
 
224

 
547,444

 
2.8
%
 
2.5
%
 
18.80

 
18.80

 
 
2019
 
1,326

 
8,531,175

 
12.0
 
10.8
%
 
11.55

 
11.56

 
 
153

 
5,405,227

 
10.6
%
 
8.2
%
 
7.54

 
7.54

 
 
1,173

 
3,125,948

 
15.7
%
 
13.9
%
 
18.49

 
18.50

 
 
2020
 
1,371

 
10,683,985

 
15.1
 
14.0
%
 
11.90

 
11.98

 
 
238

 
7,740,727

 
15.2
%
 
13.5
%
 
8.65

 
8.66

 
 
1,133

 
2,943,258

 
14.8
%
 
14.5
%
 
20.45

 
20.72

 
 
2021
 
1,242

 
9,756,262

 
13.8
 
13.2
%
 
12.28

 
12.49

 
 
206

 
6,965,222

 
13.7
%
 
12.7
%
 
9.03

 
9.06

 
 
1,036

 
2,791,040

 
14.0
%
 
13.7
%
 
20.40

 
21.07

 
 
2022
 
1,059

 
8,702,125

 
12.3
 
12.3
%
 
12.90

 
13.29

 
 
198

 
6,306,005

 
12.4
%
 
12.1
%
 
9.49

 
9.58

 
 
861

 
2,396,120

 
12.1
%
 
12.6
%
 
21.88

 
23.06

 
 
2023
 
993

 
7,487,292

 
10.6
 
10.8
%
 
13.20

 
13.73

 
 
187

 
5,168,895

 
10.1
%
 
10.1
%
 
9.68

 
9.82

 
 
806

 
2,318,397

 
11.7
%
 
11.7
%
 
21.06

 
22.46

 
 
2024
 
510

 
5,526,268

 
7.8
 
7.5
%
 
12.32

 
13.37

 
 
133

 
4,249,203

 
8.3
%
 
8.4
%
 
9.82

 
10.44

 
 
377

 
1,277,065

 
6.4
%
 
6.3
%
 
20.63

 
23.12

 
 
2025
 
302

 
3,233,662

 
4.6
 
4.8
%
 
13.48

 
14.60

 
 
83

 
2,442,767

 
4.8
%
 
5.4
%
 
11.01

 
11.65

 
 
219

 
790,895

 
4.0
%
 
4.0
%
 
21.09

 
23.73

 
 
2026
 
291

 
2,886,679

 
4.1
 
4.8
%
 
15.22

 
16.73

 
 
79

 
2,158,288

 
4.2
%
 
5.3
%
 
12.13

 
12.99

 
 
212

 
728,391

 
3.7
%
 
4.3
%
 
24.35

 
27.82

 
 
2027
 
313

 
3,017,095

 
4.3
 
4.8
%
 
14.46

 
16.47

 
 
72

 
2,196,902

 
4.3
%
 
5.1
%
 
11.39

 
12.71

 
 
241

 
820,193

 
4.1
%
 
4.5
%
 
22.68

 
26.54

 
 
2028+
 
655

 
9,103,121

 
12.9
 
14.1
%
 
14.08

 
16.25

 
 
229

 
7,664,702

 
15.0
%
 
18.1
%
 
11.66

 
13.17

 
 
426

 
1,438,419

 
7.2
%
 
9.3
%
 
26.96

 
32.69

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ASSUMES EXERCISE OF ALL RENEWAL OPTIONS (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL PORTFOLIO
 
 
SPACES ≥ 10,000 SF
 
 
SPACES < 10,000 SF
 
 
 
 
Number
 
 
 
% of
 
% of
 
 
 
ABR PSF
 
 
Number
 
 
 
% of
 
% of
 
 
 
ABR PSF
 
 
Number
 
 
 
% of
 
% of
 
 
 
ABR PSF
 
 
 
 
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 PSF
 
Expiration
 
 
Leases
 
GLA
 
GLA
 
ABR
 
ABR PSF
 
Expiration
 
 
Leases
 
GLA
 
GLA
 
ABR
 
ABR PSF
 
Expiration
 
 
M-M
 
334

 
977,390

 
1.4
 
1.5
%
 
$
14.06

 
$
14.06

 
 
11

 
285,706

 
0.6
%
 
0.5
%
 
$
8.03

 
$
8.03

 
 
323

 
691,684

 
3.5
%
 
2.8
%
 
$
16.55

 
$
16.55

 
 
2018
 
186

 
529,662

 
0.7
 
0.9
%
 
15.87

 
15.87

 
 
8

 
141,614

 
0.3
%
 
0.2
%
 
7.37

 
7.37

 
 
178

 
388,048

 
2.0
%
 
1.8
%
 
18.98

 
18.98

 
 
2019
 
914

 
3,588,457

 
5.1
 
5.3
%
 
13.35

 
13.35

 
 
57

 
1,463,166

 
2.9
%
 
2.0
%
 
6.73

 
6.74

 
 
857

 
2,125,291

 
10.7
%
 
9.1
%
 
17.91

 
17.91

 
 
2020
 
899

 
3,570,943

 
5.0
 
5.9
%
 
15.13

 
15.31

 
 
60

 
1,562,544

 
3.1
%
 
2.8
%
 
8.77

 
8.78

 
 
839

 
2,008,399

 
10.1
%
 
9.7
%
 
20.08

 
20.40

 
 
2021
 
845

 
2,898,052

 
4.1
 
5.4
%
 
17.08

 
17.68

 
 
45

 
996,469

 
2.0
%
 
2.1
%
 
10.46

 
10.55

 
 
800

 
1,901,583

 
9.6
%
 
9.4
%
 
20.55

 
21.42

 
 
2022
 
690

 
2,314,515

 
3.3
 
4.7
%
 
18.42

 
19.52

 
 
37

 
719,499

 
1.4
%
 
1.7
%
 
11.40

 
11.69

 
 
653

 
1,595,016

 
8.0
%
 
8.3
%
 
21.58

 
23.06

 
 
2023
 
677

 
2,555,898

 
3.6
 
4.8
%
 
17.13

 
18.40

 
 
50

 
920,948

 
1.8
%
 
1.9
%
 
10.32

 
10.81

 
 
627

 
1,634,950

 
8.2
%
 
8.2
%
 
20.98

 
22.67

 
 
2024
 
448

 
2,257,850

 
3.2
 
3.5
%
 
14.32

 
15.86

 
 
39

 
1,095,083

 
2.2
%
 
1.9
%
 
8.40

 
9.04

 
 
409

 
1,162,767

 
5.9
%
 
5.6
%
 
19.89

 
22.28

 
 
2025
 
320

 
2,223,053

 
3.1
 
3.2
%
 
13.08

 
14.51

 
 
57

 
1,485,316

 
2.9
%
 
2.7
%
 
9.02

 
9.91

 
 
263

 
737,737

 
3.7
%
 
3.8
%
 
21.27

 
23.76

 
 
2026
 
305

 
1,902,570

 
2.7
 
3.1
%
 
14.90

 
16.73

 
 
35

 
998,444

 
2.0
%
 
1.8
%
 
9.07

 
9.96

 
 
270

 
904,126

 
4.6
%
 
4.6
%
 
21.34

 
24.21

 
 
2027
 
330

 
2,316,293

 
3.3
 
3.7
%
 
14.50

 
16.45

 
 
62

 
1,521,658

 
3.0
%
 
3.2
%
 
10.48

 
11.44

 
 
268

 
794,635

 
4.0
%
 
4.2
%
 
22.19

 
26.06

 
 
2028+
 
2,687

 
45,666,940

 
64.5
 
57.9
%
 
11.56

 
14.85

 
 
1,143

 
39,742,322

 
78.0
%
 
79.3
%
 
9.87

 
12.62

 
 
1,544

 
5,924,618

 
29.8
%
 
32.5
%
 
22.84

 
29.82

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) ABR for leases whose future option rent is based on fair market value or on a percentage change in CPI is reported as the ABR for the last year of the current lease term.
ABR PSF includes the GLA of lessee owned leasehold improvements.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
LEASE RETENTION RATE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
By Count

 
By GLA
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Twelve Months Ended 9/30/18
 
 
 
78.8%
 
81.4%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2018
Page 33
jpgstandardlogoa21.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 2017 Population
 
Properties
 
 GLA
 
Billed
 
Leased
 
 ABR
 
 ABR PSF
 
Properties
 
of GLA
 
of ABR
 
 
1

New York-Newark-Jersey City, NY-NJ-PA
 
29

 
3,539,644

 
90.5
%
 
93.4
%
 
$
66,836

 
$
20.41

 
6.5
%
 
4.6
%
 
7.3
%
 
 
2

Los Angeles-Long Beach-Anaheim, CA
 
10

 
1,710,036

 
93.8
%
 
96.7
%
 
32,430

 
21.62

 
2.2
%
 
2.2
%
 
3.6
%
 
 
3

Chicago-Naperville-Elgin, IL-IN-WI
 
15

 
3,840,189

 
80.9
%
 
83.5
%
 
41,225

 
13.78

 
3.4
%
 
5.0
%
 
4.5
%
 
 
4

Dallas-Fort Worth-Arlington, TX
 
15

 
2,751,295

 
87.1
%
 
92.3
%
 
41,206

 
16.87

 
3.4
%
 
3.6
%
 
4.5
%
 
 
5

Houston-The Woodlands-Sugar Land, TX
 
34

 
4,434,788

 
88.1
%
 
91.0
%
 
47,594

 
12.37

 
7.6
%
 
5.8
%
 
5.2
%
 
 
6

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

 
451,260

 
97.1
%
 
97.1
%
 
4,983

 
11.38

 
0.7
%
 
0.6
%
 
0.5
%
 
 
7

Miami-Fort Lauderdale-West Palm Beach, FL
 
9

 
1,495,047

 
86.6
%
 
89.0
%
 
18,095

 
14.18

 
2.0
%
 
2.0
%
 
2.0
%
 
 
8

Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
24

 
4,041,495

 
93.5
%
 
95.0
%
 
56,663

 
16.96

 
5.4
%
 
5.3
%
 
6.2
%
 
 
9

Atlanta-Sandy Springs-Roswell, GA
 
23

 
3,561,019

 
92.9
%
 
94.8
%
 
37,248

 
11.36

 
5.2
%
 
4.7
%
 
4.1
%
 
 
10

Boston-Cambridge-Newton, MA-NH
 
6

 
707,909

 
95.6
%
 
95.9
%
 
8,638

 
12.78

 
1.3
%
 
0.9
%
 
0.9
%
 
 
 
Top 10 Largest US MSAs by Population
 
168

 
26,532,682

 
89.4
%
 
92.0
%
 
354,918

 
15.39

 
37.7
%
 
34.7
%
 
38.8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11

Phoenix-Mesa-Scottsdale, AZ
 
1

 
119,525

 
86.1
%
 
86.1
%
 
1,327

 
12.89

 
0.2
%
 
0.2
%
 
0.1
%
 
 
12

San Francisco-Oakland-Hayward, CA
 
2

 
506,531

 
94.8
%
 
97.9
%
 
10,692

 
26.74

 
0.4
%
 
0.7
%
 
1.2
%
 
 
13

Riverside-San Bernardino-Ontario, CA
 
5

 
641,635

 
93.7
%
 
95.1
%
 
9,154

 
16.59

 
1.1
%
 
0.8
%
 
1.0
%
 
 
14

Detroit-Warren-Dearborn, MI
 
8

 
1,435,664

 
81.3
%
 
92.8
%
 
15,382

 
12.61

 
1.8
%
 
1.9
%
 
1.7
%
 
 
15

Seattle-Tacoma-Bellevue, WA
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
16

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

 
1,179,788

 
89.9
%
 
90.1
%
 
13,555

 
13.60

 
1.8
%
 
1.5
%
 
1.5
%
 
 
17

San Diego-Carlsbad, CA
 
3

 
647,291

 
91.9
%
 
98.9
%
 
13,853

 
22.13

 
0.7
%
 
0.8
%
 
1.5
%
 
 
18

Tampa-St. Petersburg-Clearwater, FL
 
14

 
2,246,170

 
89.9
%
 
90.8
%
 
27,085

 
14.45

 
3.1
%
 
2.9
%
 
3.0
%
 
 
19

Denver-Aurora-Lakewood, CO
 
5

 
1,197,905

 
84.4
%
 
90.5
%
 
14,636

 
14.00

 
1.1
%
 
1.6
%
 
1.6
%
 
 
20

Baltimore-Columbia-Towson, MD
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
 
Top 20 Largest US MSAs by Population
 
214

 
34,507,191

 
89.1
%
 
92.1
%
 
460,602

 
15.41

 
47.9
%
 
45.1
%
 
50.4
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
21

St. Louis, MO-IL
 
2

 
209,036

 
84.4
%
 
95.7
%
 
2,124

 
10.79

 
0.4
%
 
0.3
%
 
0.2
%
 
 
22

Charlotte-Concord-Gastonia, NC-SC
 
5

 
1,636,487

 
94.1
%
 
95.1
%
 
14,955

 
10.52

 
1.1
%
 
2.1
%
 
1.6
%
 
 
23

Orlando-Kissimmee-Sanford, FL
 
5

 
808,790

 
86.0
%
 
95.2
%
 
15,941

 
21.04

 
1.1
%
 
1.1
%
 
1.7
%
 
 
24

San Antonio-New Braunfels, TX
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
25

Portland-Vancouver-Hillsboro, OR-WA
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
26

Pittsburgh, PA
 
1

 
199,079

 
100.0
%
 
100.0
%
 
1,953

 
10.88

 
0.2
%
 
0.3
%
 
0.2
%
 
 
27

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

 
103,695

 
92.8
%
 
92.8
%
 
1,923

 
19.97

 
0.2
%
 
0.1
%
 
0.2
%
 
 
28

Las Vegas-Henderson-Paradise, NV
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
29

Cincinnati, OH-KY-IN
 
7

 
1,930,720

 
94.7
%
 
95.0
%
 
21,534

 
14.85

 
1.6
%
 
2.5
%
 
2.4
%
 
 
30

Kansas City, MO-KS
 
4

 
605,526

 
88.7
%
 
90.0
%
 
4,385

 
8.19

 
0.9
%
 
0.8
%
 
0.5
%
 
 
31

Austin-Round Rock, TX
 
1

 
163,712

 
77.6
%
 
98.4
%
 
1,863

 
11.56

 
0.2
%
 
0.2
%
 
0.2
%
 
 
32

Columbus, OH
 
3

 
435,069

 
86.9
%
 
88.1
%
 
3,683

 
10.12

 
0.7
%
 
0.6
%
 
0.4
%
 
 
33

Cleveland-Elyria, OH
 
4

 
1,021,816

 
93.8
%
 
94.1
%
 
11,495

 
11.99

 
0.9
%
 
1.3
%
 
1.3
%
 
 
34

Indianapolis-Carmel-Anderson, IN
 
4

 
902,281

 
85.8
%
 
90.1
%
 
7,753

 
9.57

 
0.9
%
 
1.2
%
 
0.9
%
 

Supplemental Disclosure - Three Months Ended September 30, 2018
Page 34
jpgstandardlogoa21.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 2017 Population
 
Properties
 
 GLA
 
Billed
 
Leased
 
 ABR
 
 ABR PSF
 
Properties
 
of GLA
 
of ABR
 
 
35

San Jose-Sunnyvale-Santa Clara, CA
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
36

Nashville-Davidson--Murfreesboro--Franklin, TN
 
4

 
797,341

 
94.9
%
 
98.4
%
 
8,978

 
11.47

 
0.9
%
 
1.0
%
 
1.0
%
 
 
37

Virginia Beach-Norfolk-Newport News, VA-NC
 
1

 
150,300

 
83.8
%
 
93.8
%
 
2,636

 
20.74

 
0.2
%
 
0.2
%
 
0.3
%
 
 
38

Providence-Warwick, RI-MA
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
39

Milwaukee-Waukesha-West Allis, WI
 
4

 
703,934

 
90.5
%
 
91.0
%
 
6,626

 
10.79

 
0.9
%
 
0.9
%
 
0.7
%
 
 
40

Jacksonville, FL
 
4

 
798,464

 
89.5
%
 
96.3
%
 
8,476

 
11.38

 
0.9
%
 
1.0
%
 
0.9
%
 
 
41

Oklahoma City, OK
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
42

Memphis, TN-MS-AR
 
1

 
659,193

 
83.9
%
 
89.8
%
 
8,620

 
14.83

 
0.2
%
 
0.9
%
 
0.9
%
 
 
43

Raleigh, NC
 
2

 
291,027

 
89.2
%
 
98.6
%
 
3,776

 
13.26

 
0.4
%
 
0.4
%
 
0.4
%
 
 
44

Richmond, VA
 
2

 
222,690

 
94.8
%
 
97.8
%
 
3,271

 
15.02

 
0.4
%
 
0.3
%
 
0.4
%
 
 
45

Louisville/Jefferson County, KY-IN
 
4

 
707,728

 
95.8
%
 
96.1
%
 
7,201

 
10.94

 
0.9
%
 
0.9
%
 
0.8
%
 
 
46

New Orleans-Metairie, LA
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
47

Hartford-West Hartford-East Hartford, CT
 
3

 
596,013

 
90.6
%
 
91.1
%
 
9,278

 
17.09

 
0.7
%
 
0.8
%
 
1.0
%
 
 
48

Salt Lake City, UT
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
49

Birmingham-Hoover, AL
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
50

Buffalo-Cheektowaga-Niagara Falls, NY
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
 
Top 50 Largest US MSAs by Population
 
276

 
47,450,092

 
89.6
%
 
92.6
%
 
607,073

 
14.67

 
62.0
%
 
62.0
%
 
66.6
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
MSAs Ranked 51 - 100 by Population
 
54

 
9,772,297

 
89.3
%
 
93.3
%
 
104,939

 
12.92

 
12.1
%
 
12.8
%
 
11.5
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other MSAs
 
115

 
19,354,719

 
88.9
%
 
91.6
%
 
199,104

 
12.37

 
25.7
%
 
25.2
%
 
21.9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL
 
445

 
76,577,108

 
89.4
%
 
92.5
%
 
$
911,116

 
$
13.89

 
100.0
%
 
100.0
%
 
100.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




Supplemental Disclosure - Three Months Ended September 30, 2018
Page 35
jpgstandardlogoa21.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 PSF
 
Properties
 
of GLA
 
of ABR
 
 
1

New York-Newark-Jersey City, NY-NJ-PA
 
1
 
29

 
3,539,644

 
90.5
 
93.4
 
$
66,836

 
$
20.41

 
6.5
 
4.6
 
7.3
 
 
2

Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
8
 
24

 
4,041,495

 
93.5
 
95.0
 
56,663

 
16.96

 
5.4
 
5.3
 
6.2
 
 
3

Houston-The Woodlands-Sugar Land, TX
 
5
 
34

 
4,434,788

 
88.1
 
91.0
 
47,594

 
12.37

 
7.6
 
5.8
 
5.2
 
 
4

Chicago-Naperville-Elgin, IL-IN-WI
 
3
 
15

 
3,840,189

 
80.9
 
83.5
 
41,225

 
13.78

 
3.4
 
5.0
 
4.5
 
 
5

Dallas-Fort Worth-Arlington, TX
 
4
 
15

 
2,751,295

 
87.1
 
92.3
 
41,206

 
16.87

 
3.4
 
3.6
 
4.5
 
 
6

Atlanta-Sandy Springs-Roswell, GA
 
9
 
23

 
3,561,019

 
92.9
 
94.8
 
37,248

 
11.36

 
5.2
 
4.7
 
4.1
 
 
7

Los Angeles-Long Beach-Anaheim, CA
 
2
 
10

 
1,710,036

 
93.8
 
96.7
 
32,430

 
21.62

 
2.2
 
2.2
 
3.6
 
 
8

Tampa-St. Petersburg-Clearwater, FL
 
18
 
14

 
2,246,170

 
89.9
 
90.8
 
27,085

 
14.45

 
3.1
 
2.9
 
3.0
 
 
9

Cincinnati, OH-KY-IN
 
29
 
7

 
1,930,720

 
94.7
 
95.0
 
21,534

 
14.85

 
1.6
 
2.5
 
2.4
 
 
10

Miami-Fort Lauderdale-West Palm Beach, FL
 
7
 
9

 
1,495,047

 
86.6
 
89.0
 
18,095

 
14.18

 
2.0
 
2.0
 
2.0
 
 
 
10 Largest MSAs by ABR
 
-
 
180

 
29,550,403

 
89.5
 
91.9
 
389,916

 
15.42

 
40.4
 
38.6
 
42.8
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11

Orlando-Kissimmee-Sanford, FL
 
23
 
5

 
808,790

 
86.0
 
95.2
 
15,941

 
21.04

 
1.1
 
1.1
 
1.7
 
 
12

Detroit-Warren-Dearborn, MI
 
14
 
8

 
1,435,664

 
81.3
 
92.8
 
15,382

 
12.61

 
1.8
 
1.9
 
1.7
 
 
13

Charlotte-Concord-Gastonia, NC-SC
 
22
 
5

 
1,636,487

 
94.1
 
95.1
 
14,955

 
10.52

 
1.1
 
2.1
 
1.6
 
 
14

Denver-Aurora-Lakewood, CO
 
19
 
5

 
1,197,905

 
84.4
 
90.5
 
14,636

 
14.00

 
1.1
 
1.6
 
1.6
 
 
15

San Diego-Carlsbad, CA
 
17
 
3

 
647,291

 
91.9
 
98.9
 
13,853

 
22.13

 
0.7
 
0.8
 
1.5
 
 
16

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

 
1,179,788

 
89.9
 
90.1
 
13,555

 
13.60

 
1.8
 
1.5
 
1.5
 
 
17

Allentown-Bethlehem-Easton, PA-NJ
 
69
 
4

 
1,218,882

 
88.0
 
94.8
 
13,417

 
14.12

 
0.9
 
1.6
 
1.5
 
 
18

Naples-Immokalee-Marco Island, FL
 
144
 
4

 
778,064

 
93.9
 
96.1
 
12,112

 
16.58

 
0.9
 
1.0
 
1.3
 
 
19

Cleveland-Elyria, OH
 
33
 
4

 
1,021,816

 
93.8
 
94.1
 
11,495

 
11.99

 
0.9
 
1.3
 
1.3
 
 
20

Ann Arbor, MI
 
146
 
3

 
827,399

 
81.5
 
87.4
 
10,970

 
15.29

 
0.7
 
1.1
 
1.2
 
 
 
20 Largest MSAs by ABR
 
-
 
229

 
40,302,489

 
89.2
 
92.3
 
526,232

 
15.16

 
51.4
 
52.6
 
57.7
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
21

San Francisco-Oakland-Hayward, CA
 
12
 
2

 
506,531

 
94.8
 
97.9
 
10,692

 
26.74

 
0.4
 
0.7
 
1.2
 
 
22

Binghamton, NY
 
192
 
4

 
753,407

 
98.3
 
98.6
 
10,439

 
14.05

 
0.9
 
1.0
 
1.1
 
 
23

Hartford-West Hartford-East Hartford, CT
 
47
 
3

 
596,013

 
90.6
 
91.1
 
9,278

 
17.09

 
0.7
 
0.8
 
1.0
 
 
24

Riverside-San Bernardino-Ontario, CA
 
13
 
5

 
641,635

 
93.7
 
95.1
 
9,154

 
16.59

 
1.1
 
0.8
 
1.0
 
 
25

Nashville-Davidson--Murfreesboro--Franklin, TN
 
36
 
4

 
797,341

 
94.9
 
98.4
 
8,978

 
11.47

 
0.9
 
1.0
 
1.0
 
 
26

Boston-Cambridge-Newton, MA-NH
 
10
 
6

 
707,909

 
95.6
 
95.9
 
8,638

 
12.78

 
1.3
 
0.9
 
0.9
 
 
27

Memphis, TN-MS-AR
 
42
 
1

 
659,193

 
83.9
 
89.8
 
8,620

 
14.83

 
0.2
 
0.9
 
0.9
 
 
28

Jacksonville, FL
 
40
 
4

 
798,464

 
89.5
 
96.3
 
8,476

 
11.38

 
0.9
 
1.0
 
0.9
 
 
29

Vallejo-Fairfield, CA
 
121
 
1

 
519,223

 
85.7
 
86.5
 
8,401

 
18.97

 
0.2
 
0.7
 
0.9
 
 
30

Port St. Lucie, FL
 
111
 
5

 
635,563

 
84.8
 
87.1
 
8,115

 
14.77

 
1.1
 
0.8
 
0.9
 
 
31

North Port-Sarasota-Bradenton, FL
 
72
 
5

 
730,553

 
93.2
 
94.3
 
7,758

 
11.33

 
1.1
 
1.0
 
0.9
 
 
32

Indianapolis-Carmel-Anderson, IN
 
34
 
4

 
902,281

 
85.8
 
90.1
 
7,753

 
9.57

 
0.9
 
1.2
 
0.9
 
 
33

Fresno, CA
 
55
 
2

 
442,299

 
96.6
 
96.6
 
7,544

 
17.91

 
0.4
 
0.6
 
0.8
 
 
34

Louisville/Jefferson County, KY-IN
 
45
 
4

 
707,728

 
95.8
 
96.1
 
7,201

 
10.94

 
0.9
 
0.9
 
0.8
 

Supplemental Disclosure - Three Months Ended September 30, 2018
Page 36
jpgstandardlogoa21.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 PSF
 
Properties
 
of GLA
 
of ABR
 
 
35

New Haven-Milford, CT
 
66
 
5

 
546,407

 
91.9
 
92.6
 
7,161

 
14.15

 
1.1
 
0.7
 
0.8
 
 
36

Milwaukee-Waukesha-West Allis, WI
 
39
 
4

 
703,934

 
90.5
 
91.0
 
6,626

 
10.79

 
0.9
 
0.9
 
0.7
 
 
37

Norwich-New London, CT
 
182
 
2

 
433,532

 
91.3
 
91.6
 
6,556

 
16.51

 
0.4
 
0.6
 
0.7
 
 
38

Scranton--Wilkes-Barre--Hazleton, PA
 
100
 
2

 
620,309

 
88.2
 
96.4
 
5,635

 
22.21

 
0.4
 
0.8
 
0.6
 
 
39

Worcester, MA-CT
 
58
 
3

 
517,810

 
88.1
 
88.5
 
5,572

 
14.56

 
0.7
 
0.7
 
0.6
 
 
40

College Station-Bryan, TX
 
189
 
4

 
491,463

 
91.7
 
91.7
 
5,466

 
14.68

 
0.9
 
0.6
 
0.6
 
 
41

Wilmington, NC
 
168
 
2

 
379,107

 
96.7
 
97.7
 
5,401

 
14.73

 
0.4
 
0.5
 
0.6
 
 
42

Dayton, OH
 
73
 
3

 
534,385

 
94.5
 
96.1
 
5,382

 
12.65

 
0.7
 
0.7
 
0.6
 
 
43

Corpus Christi, TX
 
118
 
4

 
563,740

 
90.0
 
91.7
 
5,371

 
12.26

 
0.9
 
0.7
 
0.6
 
 
44

Winston-Salem, NC
 
83
 
3

 
437,761

 
91.0
 
95.5
 
5,283

 
13.23

 
0.7
 
0.6
 
0.6
 
 
45

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

 
451,260

 
97.1
 
97.1
 
4,983

 
11.38

 
0.7
 
0.6
 
0.5
 
 
46

Greensboro-High Point, NC
 
75
 
1

 
406,768

 
88.0
 
89.1
 
4,751

 
15.66

 
0.2
 
0.5
 
0.5
 
 
47

Oxnard-Thousand Oaks-Ventura, CA
 
67
 
2

 
320,648

 
97.2
 
98.6
 
4,485

 
14.69

 
0.4
 
0.4
 
0.5
 
 
48

Boulder, CO
 
155
 
1

 
278,692

 
82.1
 
97.7
 
4,404

 
16.17

 
0.2
 
0.4
 
0.5
 
 
49

Kansas City, MO-KS
 
30
 
4

 
605,526

 
88.7
 
90.0
 
4,385

 
8.19

 
0.9
 
0.8
 
0.5
 
 
50

Manchester-Nashua, NH
 
131
 
2

 
347,947

 
85.1
 
95.4
 
4,266

 
21.11

 
0.4
 
0.5
 
0.5
 
 
 
50 Largest MSAs by ABR
 
-
 
324

 
57,339,918

 
89.8
 
92.7
 
733,006

 
14.81

 
72.3
 
74.9
 
80.3
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
51

Charleston-North Charleston, SC
 
74
 
2

 
496,571

 
89.6
 
92.4
 
4,190

 
9.20

 
0.4
 
0.6
 
0.5
 
 
52

Roanoke, VA
 
160
 
4

 
523,878

 
90.8
 
91.8
 
4,103

 
9.73

 
0.9
 
0.7
 
0.5
 
 
53

Mobile, AL
 
129
 
1

 
542,215

 
55.5
 
75.9
 
3,954

 
9.80

 
0.2
 
0.7
 
0.4
 
 
54

Pittsfield, MA
 
326
 
1

 
436,854

 
97.5
 
98.6
 
3,933

 
21.06

 
0.2
 
0.6
 
0.4
 
 
55

Spartanburg, SC
 
153
 
1

 
358,040

 
89.5
 
92.3
 
3,858

 
12.26

 
0.2
 
0.5
 
0.4
 
 
56

Raleigh, NC
 
43
 
2

 
291,027

 
89.2
 
98.6
 
3,776

 
13.26

 
0.4
 
0.4
 
0.4
 
 
57

Columbus, OH
 
32
 
3

 
435,069

 
86.9
 
88.1
 
3,683

 
10.12

 
0.7
 
0.6
 
0.4
 
 
58

Greenville-Anderson-Mauldin, SC
 
61
 
2

 
220,723

 
96.4
 
99.4
 
3,647

 
17.02

 
0.4
 
0.3
 
0.4
 
 
59

Bakersfield, CA
 
62
 
1

 
240,068

 
89.4
 
98.5
 
3,602

 
15.50

 
0.2
 
0.3
 
0.4
 
 
60

Panama City, FL
 
224
 
2

 
397,512

 
96.7
 
96.7
 
3,566

 
9.27

 
0.4
 
0.5
 
0.4
 
 
61

Atlantic City-Hammonton, NJ
 
181
 
1

 
179,199

 
99.1
 
100.0
 
3,378

 
18.85

 
0.2
 
0.2
 
0.4
 
 
62

Saginaw, MI
 
229
 
2

 
429,188

 
93.0
 
93.8
 
3,364

 
11.94

 
0.4
 
0.6
 
0.4
 
 
63

Richmond, VA
 
44
 
2

 
222,690

 
94.8
 
97.8
 
3,271

 
15.02

 
0.4
 
0.3
 
0.4
 
 
64

Hilton Head Island-Bluffton-Beaufort, SC
 
210
 
2

 
230,352

 
95.1
 
95.1
 
3,235

 
14.76

 
0.4
 
0.3
 
0.4
 
 
65

Greenville, NC
 
240
 
1

 
233,153

 
96.2
 
96.8
 
3,094

 
13.71

 
0.2
 
0.3
 
0.3
 
 
66

Des Moines-West Des Moines, IA
 
88
 
2

 
512,825

 
96.6
 
96.6
 
3,065

 
6.25

 
0.4
 
0.7
 
0.3
 
 
67

Odessa, TX
 
268
 
1

 
365,534

 
100.0
 
100.0
 
3,049

 
13.35

 
0.2
 
0.5
 
0.3
 
 
68

Tullahoma-Manchester, TN
 
377
 
3

 
433,744

 
97.0
 
97.2
 
2,900

 
6.88

 
0.7
 
0.6
 
0.3
 
 
69

Springfield, MA
 
90
 
2

 
299,898

 
96.1
 
96.1
 
2,783

 
12.28

 
0.4
 
0.4
 
0.3
 
 
70

Blacksburg-Christiansburg-Radford, VA
 
233
 
1

 
181,055

 
100.0
 
100.0
 
2,740

 
15.39

 
0.2
 
0.2
 
0.3
 

Supplemental Disclosure - Three Months Ended September 30, 2018
Page 37
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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 PSF
 
Properties
 
of GLA
 
of ABR
 
 
71

Virginia Beach-Norfolk-Newport News, VA-NC
 
37
 
1

 
150,300

 
83.8
 
93.8
 
2,636

 
20.74

 
0.2
 
0.2
 
0.3
 
 
72

Savannah, GA
 
137
 
2

 
224,181

 
87.8
 
89.6
 
2,628

 
13.08

 
0.4
 
0.3
 
0.3
 
 
73

Elkhart-Goshen, IN
 
221
 
2

 
332,099

 
85.9
 
95.9
 
2,572

 
16.80

 
0.4
 
0.4
 
0.3
 
 
74

Fort Wayne, IN
 
125
 
2

 
253,951

 
82.5
 
82.5
 
2,450

 
13.61

 
0.4
 
0.3
 
0.3
 
 
75

Bridgeport-Stamford-Norwalk, CT
 
57
 
1

 
161,075

 
88.0
 
88.0
 
2,430

 
17.15

 
0.2
 
0.2
 
0.3
 
 
76

Merced, CA
 
178
 
1

 
153,721

 
93.1
 
96.3
 
2,380

 
16.64

 
0.2
 
0.2
 
0.3
 
 
77

Hickory-Lenoir-Morganton, NC
 
147
 
2

 
284,984

 
80.1
 
91.7
 
2,302

 
8.81

 
0.4
 
0.4
 
0.3
 
 
78

Duluth, MN-WI
 
174
 
1

 
182,969

 
98.3
 
98.3
 
2,214

 
12.31

 
0.2
 
0.2
 
0.2
 
 
79

Dover, DE
 
244
 
1

 
191,974

 
99.0
 
99.0
 
2,170

 
12.19

 
0.2
 
0.3
 
0.2
 
 
80

Santa Maria-Santa Barbara, CA
 
119
 
1

 
179,549

 
86.9
 
97.2
 
2,132

 
13.20

 
0.2
 
0.2
 
0.2
 
 
81

Lancaster, PA
 
102
 
2

 
170,128

 
94.8
 
99.1
 
2,126

 
12.61

 
0.4
 
0.2
 
0.2
 
 
82

St. Louis, MO-IL
 
21
 
2

 
209,036

 
84.4
 
95.7
 
2,124

 
10.79

 
0.4
 
0.3
 
0.2
 
 
83

Concord, NH
 
285
 
1

 
182,887

 
100.0
 
100.0
 
2,060

 
11.53

 
0.2
 
0.2
 
0.2
 
 
84

Rutland, VT
 
539
 
1

 
224,514

 
98.0
 
99.5
 
2,025

 
9.07

 
0.2
 
0.3
 
0.2
 
 
85

Toledo, OH
 
92
 
1

 
315,515

 
80.8
 
80.8
 
2,012

 
13.51

 
0.2
 
0.4
 
0.2
 
 
86

Altoona, PA
 
336
 
1

 
258,818

 
70.7
 
82.4
 
1,970

 
9.33

 
0.2
 
0.3
 
0.2
 
 
87

Pittsburgh, PA
 
26
 
1

 
199,079

 
100.0
 
100.0
 
1,953

 
10.88

 
0.2
 
0.3
 
0.2
 
 
88

Portland-South Portland, ME
 
105
 
1

 
287,513

 
90.7
 
91.4
 
1,923

 
20.37

 
0.2
 
0.4
 
0.2
 
 
89

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

 
103,695

 
92.8
 
92.8
 
1,923

 
19.97

 
0.2
 
0.1
 
0.2
 
 
90

Tucson, AZ
 
53
 
1

 
168,585

 
96.8
 
96.8
 
1,902

 
11.66

 
0.2
 
0.2
 
0.2
 
 
91

Tulsa, OK
 
54
 
1

 
186,851

 
100.0
 
100.0
 
1,900

 
10.17

 
0.2
 
0.2
 
0.2
 
 
92

Austin-Round Rock, TX
 
31
 
1

 
163,712

 
77.6
 
98.4
 
1,863

 
11.56

 
0.2
 
0.2
 
0.2
 
 
93

Manhattan, KS
 
395
 
1

 
215,261

 
92.5
 
93.1
 
1,815

 
14.72

 
0.2
 
0.3
 
0.2
 
 
94

California-Lexington Park, MD
 
358
 
1

 
92,335

 
100.0
 
100.0
 
1,777

 
19.25

 
0.2
 
0.1
 
0.2
 
 
95

Flint, MI
 
132
 
1

 
162,059

 
83.2
 
83.2
 
1,767

 
13.22

 
0.2
 
0.2
 
0.2
 
 
96

Harrisburg-Carlisle, PA
 
96
 
1

 
214,628

 
85.6
 
85.6
 
1,765

 
9.61

 
0.2
 
0.3
 
0.2
 
 
97

Crestview-Fort Walton Beach-Destin, FL
 
179
 
1

 
158,118

 
97.5
 
97.5
 
1,737

 
11.26

 
0.2
 
0.2
 
0.2
 
 
98

Ithaca, NY
 
372
 
1

 
204,830

 
85.0
 
85.0
 
1,719

 
9.88

 
0.2
 
0.3
 
0.2
 
 
99

Talladega-Sylacauga, AL
 
418
 
1

 
231,820

 
98.2
 
98.2
 
1,568

 
6.89

 
0.2
 
0.3
 
0.2
 
 
100

Columbus, IN
 
443
 
1

 
142,989

 
96.2
 
96.2
 
1,566

 
11.38

 
0.2
 
0.2
 
0.2
 
 
 
100 Largest MSAs by ABR
 
-
 
396

 
70,376,689

 
89.9
 
92.9
 
863,606

 
14.30

 
89.0
 
91.9
 
94.8
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other MSAs
 
-
 
49

 
6,200,419

 
83.9
 
87.7
 
47,510

 
9.16

 
11.0
 
8.1
 
5.2
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL
 
-
 
445

 
76,577,108

 
89.4
 
92.5
 
$
911,116

 
$
13.89

 
100.0
 
100.0
 
100.0
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




Supplemental Disclosure - Three Months Ended September 30, 2018
Page 38
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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 PSF
 
Properties
 
of GLA
 
of ABR
 
 
1

Texas
 
62

 
9,041,123

 
88.6
%
 
92.1
%
 
$
106,939

 
$
13.83

 
13.9
%
 
11.8
%
 
11.7
%
 
 
2

Florida
 
51

 
8,361,636

 
88.2
%
 
92.3
%
 
105,834

 
14.23

 
11.5
%
 
10.9
%
 
11.6
%
 
 
3

California
 
30

 
5,557,011

 
93.0
%
 
96.1
%
 
97,834

 
19.69

 
6.7
%
 
7.3
%
 
10.7
%
 
 
4

Pennsylvania
 
30

 
5,518,839

 
90.3
%
 
94.3
%
 
66,579

 
15.53

 
6.7
%
 
7.2
%
 
7.3
%
 
 
5

New York
 
29

 
3,676,167

 
92.8
%
 
95.4
%
 
65,649

 
19.19

 
6.5
%
 
4.8
%
 
7.2
%
 
 
6

Georgia
 
32

 
4,668,429

 
90.2
%
 
92.3
%
 
45,094

 
10.72

 
7.2
%
 
6.1
%
 
4.9
%
 
 
7

Illinois
 
20

 
4,331,171

 
82.1
%
 
84.4
%
 
44,807

 
13.05

 
4.5
%
 
5.7
%
 
4.9
%
 
 
8

North Carolina
 
20

 
4,242,233

 
91.7
%
 
94.2
%
 
43,074

 
11.54

 
4.5
%
 
5.5
%
 
4.7
%
 
 
9

New Jersey
 
16

 
2,838,461

 
92.2
%
 
93.2
%
 
40,058

 
16.16

 
3.6
%
 
3.7
%
 
4.4
%
 
 
10

Ohio
 
19

 
3,786,350

 
93.4
%
 
93.9
%
 
39,365

 
12.73

 
4.3
%
 
4.9
%
 
4.3
%
 
 
11

Michigan
 
17

 
3,251,082

 
83.2
%
 
90.1
%
 
34,993

 
13.05

 
3.8
%
 
4.2
%
 
3.8
%
 
 
12

Connecticut
 
12

 
1,862,523

 
90.2
%
 
90.6
%
 
26,574

 
15.74

 
2.7
%
 
2.4
%
 
2.9
%
 
 
13

Tennessee
 
11

 
2,299,807

 
89.9
%
 
95.1
%
 
23,730

 
11.40

 
2.5
%
 
3.0
%
 
2.6
%
 
 
14

Massachusetts
 
10

 
1,720,777

 
94.8
%
 
95.4
%
 
19,107

 
15.17

 
2.2
%
 
2.2
%
 
2.1
%
 
 
15

Colorado
 
6

 
1,476,597

 
84.0
%
 
91.8
%
 
19,040

 
14.45

 
1.3
%
 
1.9
%
 
2.1
%
 
 
16

Kentucky
 
9

 
2,074,205

 
88.4
%
 
88.7
%
 
18,331

 
10.91

 
2.0
%
 
2.7
%
 
2.0
%
 
 
17

Indiana
 
12

 
1,887,728

 
87.3
%
 
91.1
%
 
16,745

 
11.00

 
2.7
%
 
2.5
%
 
1.8
%
 
 
18

Minnesota
 
9

 
1,362,757

 
91.0
%
 
91.2
%
 
15,769

 
13.40

 
2.0
%
 
1.8
%
 
1.7
%
 
 
19

Virginia
 
10

 
1,401,047

 
89.1
%
 
92.6
%
 
15,057

 
12.33

 
2.2
%
 
1.8
%
 
1.7
%
 
 
20

South Carolina
 
7

 
1,305,686

 
91.7
%
 
94.0
%
 
14,930

 
12.41

 
1.6
%
 
1.7
%
 
1.6
%
 
 
21

New Hampshire
 
5

 
772,528

 
89.9
%
 
94.5
%
 
8,145

 
13.73

 
1.1
%
 
1.0
%
 
0.9
%
 
 
22

Wisconsin
 
4

 
703,934

 
90.5
%
 
91.0
%
 
6,626

 
10.79

 
0.9
%
 
0.9
%
 
0.7
%
 
 
23

Maryland
 
3

 
410,713

 
98.3
%
 
98.3
%
 
5,610

 
13.89

 
0.7
%
 
0.5
%
 
0.6
%
 
 
24

Alabama
 
2

 
774,035

 
68.3
%
 
82.6
%
 
5,522

 
8.75

 
0.4
%
 
1.0
%
 
0.6
%
 
 
25

Missouri
 
5

 
655,984

 
87.6
%
 
92.4
%
 
5,142

 
8.67

 
1.1
%
 
0.9
%
 
0.6
%
 
 
26

Arizona
 
2

 
288,110

 
92.4
%
 
92.4
%
 
3,229

 
12.13

 
0.4
%
 
0.4
%
 
0.4
%
 
 
27

Kansas
 
2

 
373,839

 
90.4
%
 
90.8
%
 
3,182

 
12.14

 
0.4
%
 
0.5
%
 
0.3
%
 
 
28

Iowa
 
2

 
512,825

 
96.6
%
 
96.6
%
 
3,065

 
6.25

 
0.4
%
 
0.7
%
 
0.3
%
 
 
29

Delaware
 
1

 
191,974

 
99.0
%
 
99.0
%
 
2,170

 
12.19

 
0.2
%
 
0.3
%
 
0.2
%
 
 
30

West Virginia
 
2

 
251,500

 
98.0
%
 
98.8
%
 
2,150

 
8.65

 
0.4
%
 
0.3
%
 
0.2
%
 
 
31

Vermont
 
1

 
224,514

 
98.0
%
 
99.5
%
 
2,025

 
9.07

 
0.2
%
 
0.3
%
 
0.2
%
 
 
32

Maine
 
1

 
287,513

 
90.7
%
 
91.4
%
 
1,923

 
20.37

 
0.2
%
 
0.4
%
 
0.2
%
 
 
33

Oklahoma
 
1

 
186,851

 
100.0
%
 
100.0
%
 
1,900

 
10.17

 
0.2
%
 
0.2
%
 
0.2
%
 
 
34

Louisiana
 
2

 
279,159

 
63.4
%
 
63.4
%
 
918

 
5.37

 
0.4
%
 
0.4
%
 
0.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL
 
445

 
76,577,108

 
89.4
%
 
92.5
%
 
$
911,116

 
$
13.89

 
100.0
%
 
100.0
%
 
100.0
%
 

Supplemental Disclosure - Three Months Ended September 30, 2018
Page 39
jpgstandardlogoa21.jpg




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
Non-Owned
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1

 
Springdale
 
Mobile
 
AL
 
Mobile, AL
 
2004
 
542,215

 
75.9
%
 
$
3,954

 
$
9.80

 
Sam's Club*
 
Bed Bath & Beyond, Big Lots, Burke's Outlet, Burlington Stores, Cost Plus World Market, David's Bridal, Marshalls, Michaels, Shoe Station
 
-
2

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

 
98.2
%
 
1,568

 
6.89

 
Walmart Supercenter
 
Burke's Outlet
 
-
3

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

 
86.1
%
 
1,327

 
12.89

 
-
 
Gymnasium Academy, LA Fitness, Sears Outlet
 
XL Health Club
4

 
Northmall Centre
 
Tucson
 
AZ
 
Tucson, AZ
 
1996
 
168,585

 
96.8
%
 
1,902

 
11.66

 
Sam's Club*
 
CareMore, Tuesday Morning, Stein Mart
 
-
5

 
Applegate Ranch Shopping Center
 
Atwater
 
CA
 
Merced, CA
 
2006
 
153,721

 
96.3
%
 
2,380

 
16.64

 
SuperTarget*, Walmart Supercenter*
 
Marshalls, Petco
 
-
6

 
Bakersfield Plaza
 
Bakersfield
 
CA
 
Bakersfield, CA
 
1970
 
240,068

 
98.5
%
 
3,602

 
15.50

 
Lassens Natural Foods & Vitamins
 
AMC Theatres, Burlington Stores, Five Below, In Shape Fitness, Ross Dress for Less
 
Hobby Lobby
7

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

 
96.4
%
 
2,377

 
20.15

 
Trader Joe's*
 
24 Hour Fitness, CVS, Michaels
 
-
8

 
Plaza Rio Vista
 
Cathedral
 
CA
 
Riverside-San Bernardino-Ontario, CA
 
2005
 
71,819

 
96.1
%
 
1,261

 
19.46

 
Stater Bros.
 
-
 
-
9

 
Clovis Commons
 
Clovis
 
CA
 
Fresno, CA
 
2004
 
180,955

 
95.0
%
 
3,752

 
22.61

 
-
 
Best Buy, Office Depot, PetSmart, T.J.Maxx
 
Target
10

 
Cudahy Plaza
 
Cudahy
 
CA
 
Los Angeles-Long Beach-Anaheim, CA
 
1994
 
127,267

 
70.8
%
 
1,979

 
21.98

 
-
 
Big Lots, Chuze Fitness
 
-
11

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

 
92.8
%
 
1,923

 
19.97

 
Trader Joe's
 
Forever 21, World Market
 
-
12

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

 
100.0
%
 
1,485

 
15.06

 
Vons (Albertsons)
 
Chuze Fitness
 
-
13

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

 
96.6
%
 
2,752

 
22.53

 
Major Market, Trader Joe's
 
Rite Aid
 
-
14

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

 
97.7
%
 
3,792

 
14.85

 
Smart & Final Extra!
 
PetSmart, The Home Depot, United Artists Theatres
 
-
15

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

 
97.2
%
 
2,132

 
13.20

 
Vons (Albertsons)
 
Five Below, Harbor Freight Tools, Marshalls, Michaels, Ulta
 
-
16

 
Briggsmore Plaza
 
Modesto
 
CA
 
Modesto, CA
 
1998
 
92,315

 
100.0
%
 
1,238

 
14.19

 
Grocery Outlet
 
Fallas, Sears Outlet
 
In Shape Fitness
17

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

 
100.0
%
 
5,786

 
20.90

 
Albertsons
 
Best Buy, CVS, Kohl's, Five Below, Ross Dress for Less
 
-
18

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

 
98.4
%
 
2,053

 
17.30

 
Barons Market
 
Crunch Fitness, Dollar Tree
 
-
19

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

 
100.0
%
 
2,165

 
10.68

 
Food 4 Less (Kroger)
 
Ross Dress for Less, Target
 
-
20

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

 
100.0
%
 
2,780

 
33.87

 
-
 
Kohl's, Orchard Supply Hardware, Party City
 
Walmart
21

 
Rose Pavilion (2)
 
Pleasanton
 
CA
 
San Francisco-Oakland-Hayward, CA
 
2018
 
328,958

 
96.8
%
 
7,912

 
24.90

 
99 Ranch Market, Trader Joe's
 
CVS, Golf Galaxy, Macy's Home Store, Total Wine & More
 
-
22

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

 
97.8
%
 
5,867

 
23.18

 
-
 
Marshalls, Michaels
 
-
23

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

 
100.0
%
 
1,152

 
8.05

 
-
 
Big Lots, Target
 
-
24

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

 
95.8
%
 
4,736

 
29.08

 
Ralphs (Kroger), Trader Joe's
 
Crunch Fitness, CVS
 
-
25

 
Plaza By The Sea
 
San Clemente
 
CA
 
Los Angeles-Long Beach-Anaheim, CA
 
1976
 
49,089

 
91.7
%
 
587

 
14.50

 
Stater Bros.
 
-
 
-
26

 
Village at Mira Mesa (2)
 
San Diego
 
CA
 
San Diego-Carlsbad, CA
 
2018
 
422,195

 
99.4
%
 
9,616

 
23.73

 
Sprouts Farmers Market, Vons (Albertsons)
 
Bed Bath & Beyond, BevMo, Marshalls, Michaels, Mira Mesa Lanes
 
-
27

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

 
100.0
%
 
3,793

 
23.02

 
Smart & Final Extra!
 
Harbor Freight Tools, T.J.Maxx
 
Rite Aid
28

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

 
98.2
%
 
2,949

 
27.51

 
Trader Joe's
 
Big Lots, Petco, Rite Aid
 
-
29

 
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, Ross Dress for Less
 
Target
30

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

 
100.0
%
 
2,108

 
11.26

 
Vons (Albertsons)
 
Ace Hardware, Big Lots
 
-
31

 
Vail Ranch Center
 
Temecula
 
CA
 
Riverside-San Bernardino-Ontario, CA
 
2003
 
201,903

 
91.8
%
 
2,893

 
21.47

 
Stater Bros.
 
Rite Aid, Stein Mart
 
-
32

 
Country Hills Shopping Center
 
Torrance
 
CA
 
Los Angeles-Long Beach-Anaheim, CA
 
1977
 
53,200

 
100.0
%
 
1,030

 
19.36

 
Ralphs (Kroger)
 
-
 
-
33

 
Upland Town Square
 
Upland
 
CA
 
Riverside-San Bernardino-Ontario, CA
 
1994
 
100,350

 
90.3
%
 
1,795

 
19.80

 
Sprouts Farmers Market
 
-
 
-
34

 
Gateway Plaza - Vallejo (2)
 
Vallejo
 
CA
 
Vallejo-Fairfield, CA
 
2018
 
519,223

 
86.5
%
 
8,401

 
18.97

 
Costco*
 
Bed Bath & Beyond, Century Theatres, DSW, Marshalls, Michaels, OfficeMax, Party City, Petco, Ross Dress for Less, Ulta
 
Target
35

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

 
100.0
%
 
747

 
7.84

 
King Soopers (Kroger)
 
Arc
 
-
36

 
Arapahoe Crossings
 
Aurora
 
CO
 
Denver-Aurora-Lakewood, CO
 
1996
 
472,518

 
100.0
%
 
7,113

 
15.05

 
King Soopers (Kroger)
 
2nd & Charles, AMC Theatres, Big Lots, Burlington Stores, buybuy BABY, Dollar Tree, Kohl's, Planet Fitness, Stein Mart
 
-
37

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

 
100.0
%
 
1,723

 
9.99

 
King Soopers (Kroger)
 
Cinema Latino, Gen-X
 
-
38

 
Villa Monaco
 
Denver
 
CO
 
Denver-Aurora-Lakewood, CO
 
1978
 
121,101

 
90.7
%
 
1,602

 
14.59

 
-
 
Chuze Fitness
 
-
39

 
Superior Marketplace
 
Superior
 
CO
 
Boulder, CO
 
1997
 
278,692

 
97.7
%
 
4,404

 
16.17

 
Whole Foods Market, Costco*, SuperTarget*
 
Goldfish Swim School, Party City, Stickley Furniture, T.J.Maxx, Ulta
 
-

Supplemental Disclosure - Three Months Ended September 30, 2018
Page 40
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PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
Non-Owned
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
40

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

 
68.9
%
 
3,451

 
17.64

 
-
 
Barnes & Noble, David's Bridal, JOANN, Ross Dress for Less, Tile Shop, Ulta
 
-
41

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

 
91.0
%
 
2,509

 
25.92

 
Whole Foods Market
 
Petco
 
-
42

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

 
95.9
%
 
2,441

 
12.93

 
Super Stop & Shop (Ahold)
 
Kohl's
 
Walmart
43

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

 
100.0
%
 
1,004

 
13.88

 
PriceRite (Wakefern)
 
-
 
The Home Depot
44

 
The Manchester Collection
 
Manchester
 
CT
 
Hartford-West Hartford-East Hartford, CT
 
2001
 
339,755

 
87.6
%
 
4,295

 
14.43

 
Walmart Supercenter*
 
A.C. Moore, Ashley Furniture, Bed Bath & Beyond, Big Bob's Flooring Outlet, Cost Plus World Market, DSW, Edge Fitness, Hobby Lobby, Men's Wearhouse, Plaza Azteca
 
Best Buy, The Home Depot, Walmart
45

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

 
100.0
%
 
592

 
10.90

 
-
 
Dollar Tree, Savers
 
-
46

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

 
99.0
%
 
2,474

 
16.68

 
Price Chopper
 
Dick's Sporting Goods
 
-
47

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

 
96.1
%
 
1,782

 
17.85

 
-
 
Barnes & Noble, Dollar Tree, DSW, Five Below, Lumber Liquidators, PetSmart
 
-
48

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

 
97.0
%
 
1,737

 
13.49

 
-
 
A.C. Moore, Christmas Tree Shops
 
-
49

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

 
88.0
%
 
2,430

 
17.15

 
-
 
LA Fitness, Marshalls
 
-
50

 
Torrington Plaza
 
Torrington
 
CT
 
Torrington, CT
 
1994
 
125,496

 
80.2
%
 
1,149

 
11.42

 
-
 
JOANN, Staples, T.J.Maxx
 
-
51

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

 
82.4
%
 
2,046

 
13.57

 
Super Stop & Shop (Ahold)
 
Dollar Tree
 
Target
52

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

 
88.0
%
 
4,115

 
19.75

 
-
 
Dick’s Sporting Goods, DSW, Michaels, Party City, Ulta
 
Best Buy, Raymour & Flanigan
53

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

 
99.0
%
 
2,170

 
12.19

 
-
 
 Kirkland's, Party City, Staples, T.J.Maxx
 
-
54

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

 
92.5
%
 
3,523

 
17.83

 
-
 
Bed Bath & Beyond, Belk, Marshalls, Michaels, Office Depot, Petco, Sears, Ulta
 
-
55

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

 
80.8
%
 
5,557

 
22.86

 
Costco*, SuperTarget*
 
David's Bridal, Michaels, PetSmart, Ross Dress for Less
 
Lowe's
56

 
Coconut Creek Plaza
 
Coconut Creek
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
2005
 
264,129

 
88.8
%
 
3,305

 
14.09

 
Publix
 
Big Lots, Off the Wall Trampoline, Planet Fitness
 
-
57

 
Century Plaza Shopping Center
 
Deerfield Beach
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
2006
 
87,283

 
91.2
%
 
1,616

 
20.29

 
-
 
Broward County Library, CVS
 
-
58

 
Northgate Shopping Center
 
DeLand
 
FL
 
Deltona-Daytona Beach-Ormond Beach, FL
 
1993
 
182,454

 
94.1
%
 
1,507

 
8.78

 
Publix
 
Big Lots, Planet Fitness, Tractor Supply
 
-
59

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

 
97.5
%
 
1,737

 
11.26

 
Publix
 
Bealls Outlet, Books-A-Million, Office Depot, T.J.Maxx
 
-
60

 
Normandy Square
 
Jacksonville
 
FL
 
Jacksonville, FL
 
1996
 
89,822

 
100.0
%
 
846

 
9.70

 
Winn-Dixie (Southeastern Grocers)
 
Ace Hardware, Family Dollar
 
-
61

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

 
92.5
%
 
1,961

 
6.83

 
-
 
American Signature Furniture, Bealls Outlet, Books-A-Million, David's Bridal, Ollie's Bargain Outlet
 
-
62

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

 
100.0
%
 
1,975

 
18.10

 
-
 
Best Buy, David's Bridal, Restoration Hardware, Urban Air Trampoline & Adventure Park
 
-
63

 
Ventura Downs
 
Kissimmee
 
FL
 
Orlando-Kissimmee-Sanford, FL
 
2018
 
98,191

 
96.6
%
 
1,670

 
17.61

 
-
 
LA Fitness
 
-
64

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

 
95.6
%
 
2,279

 
17.85

 
Walmart Neighborhood Market
 
Walgreens
 
-
65

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

 
93.0
%
 
1,865

 
11.34

 
Publix
 
Dollar Tree, Petco, Staples, Tuesday Morning, T.J.Maxx
 
-
66

 
Marco Town Center
 
Marco Island
 
FL
 
Naples-Immokalee-Marco Island, FL
 
1998
 
109,882

 
78.3
%
 
1,822

 
21.19

 
Publix
 
-
 
-
67

 
Mall at 163rd Street
 
Miami
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
2007
 
340,528

 
71.4
%
 
3,078

 
15.92

 
Walmart Supercenter*
 
Citi Trends, Marshalls, Ross Dress for Less
 
The Home Depot
68

 
Miami Gardens
 
Miami
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
1996
 
249,319

 
98.8
%
 
2,892

 
11.74

 
Fresco y Más (Southeastern Grocers)
 
Ross Dress for Less
 
-
69

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

 
100.0
%
 
2,062

 
9.73

 
Publix
 
-
 
-
70

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

 
100.0
%
 
3,614

 
18.22

 
Publix
 
Marshalls, Office Depot, PGA TOUR Superstore
 
-
71

 
Park Shore Plaza
 
Naples
 
FL
 
Naples-Immokalee-Marco Island, FL
 
2018
 
254,548

 
97.3
%
 
4,614

 
19.69

 
The Fresh Market
 
Big Lots, Burlington Stores, HomeGoods, Kirkland's, Party City, Saks OFF Fifth, Yard House
 
-
72

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

 
100.0
%
 
1,059

 
13.05

 
Publix
 
Zone Fitness Club
 
-
73

 
Southgate Center
 
New Port Richey
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
1966
 
248,501

 
98.6
%
 
2,590

 
11.19

 
Publix
 
Bealls Outlet, Big Lots, Lumber Liquidators, Old Time Pottery, Pet Supermarket
 
-
74

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

 
91.8
%
 
904

 
11.14

 
Sedano's
 
Family Dollar
 
-
75

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

 
100.0
%
 
2,433

 
17.25

 
-
 
Burlington Stores, LA Fitness
 
Target
76

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

 
100.0
%
 
1,064

 
13.94

 
Publix
 
-
 
-
77

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

 
89.6
%
 
1,066

 
16.25

 
Lucky's Market
 
-
 
-

Supplemental Disclosure - Three Months Ended September 30, 2018
Page 41
jpgstandardlogoa21.jpg




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
Non-Owned
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
78

 
Pointe Orlando
 
Orlando
 
FL
 
Orlando-Kissimmee-Sanford, FL
 
1997
 
420,005

 
93.3
%
 
9,708

 
25.56

 
-
 
Main Event, Regal Cinemas
 
-
79

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

 
95.7
%
 
749

 
12.13

 
Publix
 
-
 
-
80

 
Martin Downs Village Center
 
Palm City
 
FL
 
Port St. Lucie, FL
 
1987
 
161,754

 
95.8
%
 
2,818

 
18.69

 
-
 
Coastal Care, Walgreens
 
-
81

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

 
92.9
%
 
1,197

 
13.04

 
Publix
 
-
 
-
82

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

 
98.0
%
 
2,369

 
8.09

 
Walmart Supercenter
 
Big Lots, Harbor Freight Tools, HomeGoods, T.J.Maxx
 
-
83

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

 
83.6
%
 
1,942

 
14.26

 
Publix
 
Fortis Institute, Walgreens
 
-
84

 
Shoppes of Victoria Square
 
Port St. Lucie
 
FL
 
Port St. Lucie, FL
 
1990
 
95,186

 
94.5
%
 
1,175

 
13.06

 
Winn-Dixie (Southeastern Grocers)
 
Dollar Tree
 
-
85

 
Lake St. Charles
 
Riverview
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
1999
 
61,015

 
97.4
%
 
678

 
11.41

 
Winn-Dixie (Southeastern Grocers)
 
-
 
-
86

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

 
97.4
%
 
779

 
20.29

 
SuperTarget*
 
The Zoo Health Club
 
-
87

 
Beneva Village Shoppes (2)
 
Sarasota
 
FL
 
North Port-Sarasota-Bradenton, FL
 
2018
 
140,075

 
95.3
%
 
1,737

 
13.01

 
Publix
 
Harbor Freight Tools, Pet Supermarket, Walgreens
 
-
88

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

 
100.0
%
 
2,059

 
12.19

 
Publix
 
Big Lots, Crunch Fitness, HomeGoods
 
-
89

 
Atlantic Plaza
 
Satellite Beach
 
FL
 
Palm Bay-Melbourne-Titusville, FL
 
2008
 
130,901

 
82.4
%
 
1,442

 
13.36

 
Publix
 
Planet Fitness
 
-
90

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

 
95.2
%
 
1,228

 
8.23

 
-
 
Bealls Outlet, Burlington Stores, T.J.Maxx
 
-
91

 
Cobblestone Village
 
St. Augustine
 
FL
 
Jacksonville, FL
 
2003
 
265,464

 
98.5
%
 
3,694

 
14.13

 
Publix
 
Bealls, Bed Bath & Beyond, Michaels, Party City, Petco
 
-
92

 
Dolphin Village
 
St. Pete Beach
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
1990
 
136,224

 
77.3
%
 
1,950

 
18.51

 
Publix
 
CVS, Dollar Tree
 
-
93

 
Bay Pointe Plaza
 
St. Petersburg
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
2016
 
95,760

 
98.3
%
 
1,621

 
17.22

 
Publix
 
Bealls Outlet, Pet Supermarket
 
-
94

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

 
95.9
%
 
1,285

 
8.96

 
Winn-Dixie (Southeastern Grocers)
 
Bealls Outlet, Big Lots
 
-
95

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

 
76.6
%
 
727

 
8.88

 
-
 
Dollar Tree
 
-
96

 
Tyrone Gardens
 
St. Petersburg
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
1998
 
202,384

 
83.5
%
 
1,703

 
10.08

 
Winn-Dixie (Southeastern Grocers)
 
Big Lots, Chuck E. Cheese’s
 
-
97

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

 
73.2
%
 
1,431

 
12.92

 
Publix
 
Family Dollar, Flooring USA
 
-
98

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

 
100.0
%
 
1,377

 
12.51

 
Patel Brothers
 
Dollar Tree, LA Fitness
 
Walmart
99

 
Carrollwood Center
 
Tampa
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
2002
 
92,958

 
92.9
%
 
1,516

 
17.56

 
Publix
 
Rarehues
 
-
100

 
Ross Plaza
 
Tampa
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
1996
 
89,885

 
98.7
%
 
1,381

 
15.57

 
-
 
Deal$, Ross Dress for Less, Lumber Liquidators
 
-
101

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

 
98.6
%
 
2,267

 
15.76

 
Publix
 
Petco, T.J.Maxx, Ulta
 
-
102

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

 
97.5
%
 
947

 
7.34

 
Winn-Dixie (Southeastern Grocers)
 
Lumber Liquidators, Pet Supermarket, T.J.Maxx
 
-
103

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

 
87.1
%
 
620

 
6.49

 
Publix
 
Bealls Outlet
 
-
104

 
Venice Village Shoppes
 
Venice
 
FL
 
North Port-Sarasota-Bradenton, FL
 
1989
 
175,148

 
90.0
%
 
2,395

 
15.19

 
Publix
 
JOANN, Planet Fitness
 
-
105

 
Albany Plaza
 
Albany
 
GA
 
Albany, GA
 
1995
 
114,169

 
73.7
%
 
582

 
6.92

 
Harveys (Southeastern Grocers)
 
Big Lots, OK Beauty & Fashions Outlet
 
-
106

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

 
98.9
%
 
5,358

 
20.33

 
-
 
AMC Theatres, Barnes & Noble, DSW, Macy's Furniture Gallery, REI, T.J.Maxx
 
-
107

 
Perlis Plaza
 
Americus
 
GA
 
Americus, GA
 
1972
 
165,315

 
83.1
%
 
829

 
6.03

 
-
 
Belk, Roses
 
-
108

 
Northeast Plaza
 
Atlanta
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1952
 
445,042

 
93.9
%
 
4,722

 
11.53

 
City Farmers Market
 
dd's Discounts (Ross), NCG Cinemas
 
-
109

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

 
73.4
%
 
1,151

 
7.55

 
-
 
At Home, Dollar Tree
 
-
110

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

 
98.2
%
 
525

 
8.08

 
Food Depot
 
Family Dollar
 
-
111

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

 
96.5
%
 
1,128

 
14.79

 
Publix
 
-
 
-
112

 
Cedar Plaza
 
Cedartown
 
GA
 
Cedartown, GA
 
1994
 
83,300

 
100.0
%
 
708

 
8.50

 
Kroger
 
Planet Fitness
 
-
113

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

 
98.1
%
 
2,235

 
13.29

 
Walmart Supercenter*
 
JOANN, PetSmart, Value Village
 
The Home Depot
114

 
Cordele Square
 
Cordele
 
GA
 
Cordele, GA
 
2002
 
127,953

 
85.4
%
 
745

 
6.82

 
Harveys (Southeastern Grocers)
 
Belk, Citi Trends, Cordele Theatres
 
-
115

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

 
94.3
%
 
1,110

 
6.73

 
Ingles
 
Kmart
 
-
116

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

 
98.1
%
 
792

 
12.01

 
Publix
 
-
 
-
117

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

 
88.4
%
 
1,124

 
13.39

 
Kroger
 
-
 
-
118

 
Northside
 
Dalton
 
GA
 
Dalton, GA
 
2001
 
73,931

 
97.3
%
 
607

 
8.44

 
Food City
 
Family Dollar
 
-

Supplemental Disclosure - Three Months Ended September 30, 2018
Page 42
jpgstandardlogoa21.jpg




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
Non-Owned
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
119

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

 
90.8
%
 
777

 
11.00

 
Publix
 
-
 
-
120

 
Park Plaza
 
Douglasville
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1986
 
46,670

 
88.9
%
 
758

 
18.36

 
Kroger*
 
-
 
-
121

 
Westgate
 
Dublin
 
GA
 
Dublin, GA
 
2004
 
110,738

 
83.9
%
 
596

 
6.68

 
-
 
Big Lots
 
The Home Depot
122

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

 
100.0
%
 
1,642

 
10.58

 
-
 
American Signature Furniture, Ollie's Bargain Outlet, Studio Movie Grill
 
-
123

 
Banks Station
 
Fayetteville
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
2006
 
178,871

 
77.6
%
 
1,162

 
10.01

 
Food Depot
 
Cinemark, Staples
 
-
124

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

 
100.0
%
 
2,420

 
11.06

 
ALDI
 
Best Buy, Michaels, OfficeMax, PetSmart, The Furniture Mall
 
-
125

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

 
100.0
%
 
1,390

 
14.32

 
Publix
 
-
 
-
126

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

 
88.6
%
 
1,305

 
13.92

 
Publix
 
-
 
-
127

 
The Village at Mableton
 
Mableton
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1959
 
229,013

 
95.2
%
 
1,116

 
5.12

 
-
 
Dollar Tree, Ollie's Bargain Outlet, Planet Fitness
 
-
128

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

 
100.0
%
 
588

 
10.70

 
-
 
Marshalls
 
-
129

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

 
91.5
%
 
1,104

 
10.67

 
Kroger
 
-
 
-
130

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

 
88.1
%
 
1,767

 
13.01

 
Kroger
 
Kayhill's Sports Bar and Grill
 
-
131

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

 
92.1
%
 
565

 
8.79

 
Food Depot
 
-
 
-
132

 
Holcomb Bridge Crossing
 
Roswell
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1988
 
93,420

 
97.1
%
 
992

 
10.94

 
-
 
PGA TOUR Superstore
 
-
133

 
Victory Square
 
Savannah
 
GA
 
Savannah, GA
 
2007
 
122,719

 
88.6
%
 
1,664

 
15.31

 
SuperTarget*
 
Citi Trends, Dollar Tree, Staples
 
The Home Depot
134

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

 
97.2
%
 
2,878

 
15.74

 
Kroger
 
-
 
-
135

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

 
97.8
%
 
1,790

 
5.27

 
Walmart Supercenter
 
Hobby Lobby, NCG Cinemas
 
-
136

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

 
90.8
%
 
964

 
10.46

 
Kroger
 
-
 
-
137

 
Haymarket Mall
 
Des Moines
 
IA
 
Des Moines-West Des Moines, IA
 
1979
 
243,120

 
99.4
%
 
1,507

 
6.36

 
-
 
Burlington Stores, Harbor Freight Tools, Hobby Lobby
 
-
138

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

 
94.0
%
 
1,558

 
6.14

 
Price Chopper
 
Aspen Athletic Clubs, Big Lots, Northern Tool + Equipment, Office Depot
 
-
139

 
Annex of Arlington
 
Arlington Heights
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1999
 
199,463

 
100.0
%
 
3,526

 
17.68

 
Trader Joe's
 
Binny's Beverage Depot, Chuck E. Cheese's, Kirkland's, Petco, Ulta
 
-
140

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

 
92.1
%
 
1,999

 
14.31

 
-
 
Savers, XSport Fitness
 
Kohl's
141

 
Bartonville Square
 
Bartonville
 
IL
 
Peoria, IL
 
2001
 
61,678

 
87.2
%
 
269

 
5.34

 
Kroger
 
-
 
-
142

 
Southfield Plaza
 
Bridgeview
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2006
 
198,190

 
88.7
%
 
2,036

 
11.58

 
Shop & Save Market
 
Hobby Lobby, Octapharma, Walgreens
 
-
143

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

 
92.2
%
 
4,167

 
15.03

 
-
 
Marshalls, The Home Depot, Ross Dress for Less, XSport Fitness
 
-
144

 
Rivercrest Shopping Center
 
Crestwood
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1992
 
548,531

 
78.3
%
 
5,534

 
15.42

 
-
 
AMC Theatres, Best Buy, Five Below, Party City, PetSmart, Planet Fitness, Ross Dress for Less, T.J.Maxx
 
-
145

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

 
86.8
%
 
2,479

 
10.46

 
Jewel-Osco (Albertsons)
 
Burlington Stores
 
Hobby Lobby
146

 
Elk Grove Town Center
 
Elk Grove Village
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1998
 
59,409

 
74.4
%
 
943

 
24.77

 
-
 
Walgreens
 
-
147

 
Freeport Plaza
 
Freeport
 
IL
 
Freeport, IL
 
2000
 
87,846

 
88.3
%
 
539

 
6.95

 
Cub Foods (Supervalu)
 
-
 
-
148

 
Westview Center
 
Hanover Park
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1989
 
321,382

 
91.1
%
 
2,816

 
10.10

 
Tony's Finer Foods
 
Amber's Furniture, Big Lots, LA Fitness, Sears Outlet
 
Value City
149

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

 
80.7
%
 
2,125

 
15.34

 
-
 
Best Buy, PetSmart, Stein Mart
 
-
150

 
Butterfield Square
 
Libertyville
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1997
 
106,683

 
97.2
%
 
1,636

 
15.78

 
Sunset Foods
 
-
 
-
151

 
High Point Centre (2)
 
Lombard
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2018
 
245,497

 
57.6
%
 
1,411

 
11.35

 
-
 
David's Bridal, JOANN, LA Fitness
 
-
152

 
Long Meadow Commons
 
Mundelein
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1997
 
118,281

 
93.8
%
 
1,719

 
16.34

 
Jewel-Osco
 
Planet Fitness
 
-
153

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

 
79.8
%
 
6,905

 
12.72

 
-
 
Art Van Furniture, Big Lots, buybuy BABY, Marshalls, Old Navy, Party City, Star Cinema Grill, Ulta
 
-
154

 
Sterling Bazaar
 
Peoria
 
IL
 
Peoria, IL
 
1992
 
87,359

 
83.6
%
 
679

 
9.53

 
Kroger
 
-
 
-
155

 
Rollins Crossing
Round Lake Beach
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1998
 
192,913

 
96.3
%
 
1,999

 
17.68

 
-
 
LA Fitness, Regal Cinemas
 
-
156

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

 
97.6
%
 
751

 
6.73

 
Hy-Vee
 
Eye Surgeons Associates
 
-
157

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

 
94.9
%
 
1,344

 
10.13

 
Schnucks
 
U.S. Post Office
 
-
158

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

 
67.2
%
 
1,930

 
12.19

 
Walt's Fine Foods
 
Planet Fitness, Tile Shop
 
-
159

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

 
89.4
%
 
1,092

 
9.35

 
-
 
Dollar Tree, Godby Home Furnishings, Ollie's Bargain Outlet
 
-

Supplemental Disclosure - Three Months Ended September 30, 2018
Page 43
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PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
Non-Owned
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
160

 
Columbus Center
 
Columbus
 
IN
 
Columbus, IN
 
1964
 
142,989

 
96.2
%
 
1,566

 
11.38

 
-
 
Big Lots, Five Below, OfficeMax, Pet Supplies Plus, T.J.Maxx, Ulta
 
Target
161

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

 
91.0
%
 
570

 
31.03

 
Martin's Super Market
 
CVS
 
-
162

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

 
91.2
%
 
1,892

 
17.64

 
Walmart Supercenter*
 
Best Buy, Dick's Sporting Goods, PetSmart
 
Kohl's
163

 
Market Centre
 
Goshen
 
IN
 
Elkhart-Goshen, IN
 
1994
 
250,448

 
97.5
%
 
2,002

 
14.86

 
Walmart Supercenter*
 
JOANN
 
-
164

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

 
84.1
%
 
793

 
8.80

 
Kroger
 
-
 
-
165

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

 
100.0
%
 
674

 
9.41

 
Save-A-Lot
 
Citi Trends
 
-
166

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

 
90.0
%
 
382

 
14.16

 
Walmart Supercenter*
 
Aaron's
 
-
167

 
Bittersweet Plaza
 
Mishawaka
 
IN
 
South Bend-Mishawaka, IN-MI
 
2000
 
92,295

 
91.3
%
 
752

 
8.97

 
Martin's Super Market
 
-
 
-
168

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

 
70.0
%
 
558

 
7.68

 
Kroger
 
Go Workout
 
-
169

 
Speedway Super Center (2)
 
Speedway
 
IN
 
Indianapolis-Carmel-Anderson, IN
 
2018
 
592,830

 
90.2
%
 
5,194

 
9.76

 
Kroger
 
Burlington Stores, Kohl's, Oak Street Health Center, Petco, Ross Dress for Less, Sears Outlet, T.J.Maxx
 
-
170

 
Sagamore Park Centre
 
West Lafayette
 
IN
 
Lafayette-West Lafayette, IN
 
2018
 
134,139

 
97.1
%
 
1,270

 
9.75

 
Pay Less (Kroger)
 
-
 
-
171

 
Westchester Square
 
Lenexa
 
KS
 
Kansas City, MO-KS
 
1987
 
158,578

 
87.6
%
 
1,367

 
9.84

 
Hy-Vee
 
-
 
-
172

 
West Loop Shopping Center
 
Manhattan
 
KS
 
Manhattan, KS
 
2013
 
215,261

 
93.1
%
 
1,815

 
14.72

 
Dillons (Kroger)
 
Bellus Academy, JOANN, Marshalls
 
-
173

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

 
100.0
%
 
1,057

 
8.10

 
-
 
At Home, Staples
 
-
174

 
Florence Plaza - Florence Square
 
Florence
 
KY
 
Cincinnati, OH-KY-IN
 
2014
 
686,526

 
90.1
%
 
6,916

 
14.38

 
Kroger
 
Barnes & Noble, Burlington Stores, David's Bridal, Five Below, Harbor Freight Tools, Hobby Lobby, Old Navy, Ollie's Bargain Outlet, Staples, T.J.Maxx
 
-
175

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

 
95.2
%
 
1,826

 
9.69

 
-
 
King Pin Lanes, Louisville Athletic Club
 
-
176

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

 
40.4
%
 
765

 
8.71

 
-
 
Gabriel Brothers
 
-
177

 
London Marketplace
 
London
 
KY
 
London, KY
 
1994
 
169,032

 
99.1
%
 
1,120

 
6.69

 
Kroger
 
Goody's
 
-
178

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

 
100.0
%
 
1,990

 
11.38

 
Kroger
 
Petco
 
-
179

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

 
92.6
%
 
1,523

 
10.76

 
Kroger
 
Annie's Attic
 
-
180

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

 
96.5
%
 
1,862

 
12.15

 
Kroger Marketplace
 
-
 
-
181

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

 
94.9
%
 
1,272

 
8.22

 
-
 
Big Lots, Books-A-Million, Office Depot
 
-
182

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

 
88.4
%
 
314

 
3.55

 
Super 1 Foods
 
dd's Discounts (Ross)
 
-
183

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

 
49.5
%
 
604

 
7.32

 
Super 1 Foods
 
-
 
-
184

 
Points West Plaza
 
Brockton
 
MA
 
Boston-Cambridge-Newton, MA-NH
 
1960
 
130,635

 
98.9
%
 
978

 
7.57

 
PriceRite (Wakefern)
 
Citi Trends, L&M Bargain, Ocean State Job Lot
 
-
185

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

 
100.0
%
 
2,212

 
29.57

 
-
 
Golf Galaxy, Pyara Aveda Spa & Salon, Staples
 
Duluth Trading Co.
186

 
Holyoke Shopping Center
 
Holyoke
 
MA
 
Springfield, MA
 
2000
 
195,995

 
96.2
%
 
1,598

 
12.31

 
Super Stop & Shop (Ahold)
 
JOANN, Ocean State Job Lot
 
-
187

 
WaterTower Plaza
 
Leominster
 
MA
 
Worcester, MA-CT
 
2000
 
284,757

 
97.9
%
 
3,222

 
11.78

 
Shaw's (Albertsons)
 
Barnes & Noble, Michaels, Party City, Petco, Staples, T.J.Maxx
 
-
188

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

 
60.8
%
 
237

 
15.28

 
Hannaford Bros. (Delhaize)*
 
-
 
Walmart
189

 
Lynn Marketplace
 
Lynn
 
MA
 
Boston-Cambridge-Newton, MA-NH
 
1968
 
78,046

 
100.0
%
 
1,294

 
16.58

 
Shaw's (Albertsons)
 
Rainbow
 
-
190

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

 
99.4
%
 
2,335

 
12.86

 
Star Market (Albertsons)
 
Marshalls, Ocean State Job Lot
 
-
191

 
Berkshire Crossing
 
Pittsfield
 
MA
 
Pittsfield, MA
 
1994
 
436,854

 
98.6
%
 
3,933

 
21.06

 
Market 32
 
Barnes & Noble, Michaels, Staples, The Home Depot, Ulta, Walmart
 
-
192

 
Westgate Plaza
 
Westfield
 
MA
 
Springfield, MA
 
1996
 
103,903

 
96.0
%
 
1,185

 
12.25

 
-
 
Ocean State Job Lot, Staples, T.J.Maxx
 
-
193

 
Perkins Farm Marketplace
 
Worcester
 
MA
 
Worcester, MA-CT
 
1967
 
207,538

 
79.1
%
 
2,113

 
22.59

 
Super Stop & Shop (Ahold)
 
Citi Trends, Fallas
 
-
194

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

 
100.0
%
 
1,777

 
19.25

 
-
 
Best Buy, Old Navy, Petco, Ross Dress for Less
 
-
195

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

 
90.3
%
 
736

 
31.92

 
-
 
-
 
-
196

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

 
98.5
%
 
3,097

 
10.74

 
Giant Food (Ahold)
 
JOANN, Kmart, Peebles
 
-
197

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

 
91.4
%
 
1,923

 
20.37

 
-
 
Big Lots, Dollar Tree, JOANN, Lowe's
 
-
198

 
Arborland Center
 
Ann Arbor
 
MI
 
Ann Arbor, MI
 
2000
 
403,536

 
84.5
%
 
5,960

 
17.77

 
Kroger
 
Bed Bath & Beyond, DSW, Marshalls, Michaels, Nordstrom Rack, Ulta
 
-

Supplemental Disclosure - Three Months Ended September 30, 2018
Page 44
jpgstandardlogoa21.jpg




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
Non-Owned
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
199

 
Maple Village (2)
 
Ann Arbor
 
MI
 
Ann Arbor, MI
 
2018
 
300,157

 
87.8
%
 
4,152

 
15.76

 
Plum Market
 
Dunham's Sports, HomeGoods, LA Fitness, Sierra Trading Post, Stein Mart, Ulta
 
-
200

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

 
100.0
%
 
1,011

 
11.84

 
Busch’s Fresh Food Market
 
Ace Hardware
 
-
201

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

 
100.0
%
 
814

 
10.30

 
-
 
Dollar Tree, Ollie's Bargain Outlet, True Value
 
-
202

 
Silver Pointe Shopping Center
 
Fenton
 
MI
 
Flint, MI
 
1996
 
162,059

 
83.2
%
 
1,767

 
13.22

 
VG's Food (SpartanNash)
 
Dunham's Sports, Glik's
 
-
203

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

 
78.4
%
 
607

 
7.78

 
D&W Fresh Market (SpartanNash)
 
-
 
-
204

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

 
84.6
%
 
1,427

 
9.05

 
-
 
Bed Bath & Beyond, DXL Destination XL, Hobby Lobby, Planet Fitness
 
-
205

 
Lakes Crossing
 
Muskegon
 
MI
 
Muskegon, MI
 
2008
 
110,997

 
90.6
%
 
1,476

 
15.95

 
-
 
JOANN, Party City, Shoe Carnival, Ulta
 
Kohl's
206

 
Redford Plaza
 
Redford
 
MI
 
Detroit-Warren-Dearborn, MI
 
1992
 
280,941

 
89.5
%
 
2,456

 
10.01

 
Prince Valley Market
 
Burlington Stores, Citi Trends, CW Price, Dollar Tree
 
-
207

 
Hampton Village Centre
 
Rochester Hills
 
MI
 
Detroit-Warren-Dearborn, MI
2004
 
469,251

 
98.1
%
 
6,605

 
18.69

 
-
 
Best Buy, DSW, Emagine Theatre, Kohl's, Old Navy, Petco, T.J.Maxx, Ulta
 
Target
208

 
Fashion Corners
 
Saginaw
 
MI
 
Saginaw, MI
2004
 
184,735

 
100.0
%
 
1,872

 
10.13

 
-
 
Bed Bath & Beyond, Best Buy, Dunham's Sports, Guitar Center, Harbor Freight Tools
 
-
209

 
Green Acres
 
Saginaw
 
MI
 
Saginaw, MI
 
2018
 
244,453

 
89.1
%
 
1,492

 
15.38

 
Kroger
 
Planet Fitness, Rite Aid
 
-
210

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

 
100.0
%
 
1,223

 
12.02

 
-
 
Party City, Planet Fitness
 
Burlington Stores
211

 
18 Ryan
 
Sterling Heights
 
MI
 
Detroit-Warren-Dearborn, MI
 
1997
 
101,564

 
100.0
%
 
984

 
9.69

 
Dream Market
 
O'Reilly Auto Parts, Planet Fitness, Redline Athletics
 
-
212

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

 
88.3
%
 
1,000

 
7.32

 
-
 
Bed Bath & Beyond, Dunham's Mega Sports, Urban Air Trampoline & Adventure Park
 
-
213

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

 
71.4
%
 
1,289

 
11.09

 
-
 
Bed Bath & Beyond, Crunch Fitness, Party City, Petco
 
Burlington Stores, Target
214

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

 
96.0
%
 
858

 
7.23

 
Save-A-Lot
 
Dollar Tree, Dunham's Sports, Planet Fitness
 
-
215

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

 
97.7
%
 
2,124

 
17.40

 
SuperTarget*
 
Best Buy, Dollar Tree, Walgreens
 
-
216

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

 
98.3
%
 
2,214

 
12.31

 
-
 
Best Buy, David's Bridal, Dunham's Sports, JOANN, T.J.Maxx
 
-
217

 
Elk Park Center
 
Elk River
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
1999
 
205,009

 
86.9
%
 
1,954

 
10.96

 
Cub Foods (Jerry's Foods)
 
OfficeMax
 
-
218

 
Westwind Plaza
 
Minnetonka
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
2007
 
88,049

 
100.0
%
 
1,543

 
17.52

 
Cub Foods (Supervalu)*
 
-
 
-
219

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

 
87.3
%
 
2,144

 
11.50

 
-
 
Marshalls, Michaels
 
-
220

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

 
57.2
%
 
665

 
16.72

 
Cub Foods (Jerry's Foods)*
 
Dollar Tree
 
-
221

 
Marketplace @ 42
 
Savage
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
1999
 
114,518

 
98.2
%
 
1,826

 
16.23

 
Fresh Thyme Farmers Market
 
Marshalls
 
-
222

 
Sun Ray Shopping Center
 
St. Paul
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
1958
 
291,048

 
91.7
%
 
2,491

 
12.38

 
Cub Foods (Supervalu)
 
Planet Fitness, T.J.Maxx, Valu Thrift Store
 
-
223

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

 
93.5
%
 
808

 
11.83

 
Festival Foods
 
Dollar Tree
 
-
224

 
Ellisville Square
 
Ellisville
 
MO
 
St. Louis, MO-IL
 
1989
 
137,446

 
96.8
%
 
1,693

 
13.03

 
ALDI
 
Michaels, Party City, Petco, Tuesday Morning
 
-
225

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

 
87.8
%
 
771

 
5.87

 
Price Chopper
 
-
 
-
226

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

 
93.4
%
 
1,271

 
8.42

 
Price Chopper
 
Ace Hardware
 
-
227

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

 
91.4
%
 
976

 
8.56

 
Price Chopper
 
-
 
-
228

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

 
93.6
%
 
431

 
6.43

 
Shcnuck's
 
-
 
-
229

 
Devonshire Place
 
Cary
 
NC
 
Raleigh, NC
 
1996
 
106,680

 
100.0
%
 
1,572

 
15.05

 
-
 
Burlington Stores, Dollar Tree, Harbor Freight Tools, REI
 
-
230

 
McMullen Creek Market
 
Charlotte
 
NC
 
Charlotte-Concord-Gastonia, NC-SC
 
1988
 
280,564

 
90.4
%
 
3,522

 
13.88

 
Walmart Neighborhood Market
 
Burlington Stores, Dollar Tree, Staples
 
-
231

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

 
100.0
%
 
2,033

 
8.37

 
Patel Brothers
 
Big Lots, Fallas, Gabriel Brothers, The Home Depot, Value City Furniture
 
-
232

 
Macon Plaza
 
Franklin
 
NC
 
-
 
2001
 
92,787

 
94.1
%
 
480

 
10.64

 
BI-LO (Southeastern Grocers)
 
Peebles
 
-
233

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

 
97.8
%
 
2,204

 
12.22

 
-
 
Burn Boot Camp, Citi Trends, OfficeMax, PetSmart
 
Target, The Home Depot
234

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

 
84.5
%
 
3,189

 
13.41

 
Walmart Supercenter
 
Best Buy, Burke's Outlet, Dollar Tree, Five Below, Michaels, Ross Dress for Less
 
-
235

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

 
89.1
%
 
4,751

 
15.66

 
-
 
Christmas Tree Shops, Dick's Sporting Goods, Kohl's, Old Navy, PetSmart, Rainbow
 
Ross Dress for Less, Target

Supplemental Disclosure - Three Months Ended September 30, 2018
Page 45
jpgstandardlogoa21.jpg




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
Non-Owned
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
236

 
University Commons
 
Greenville
 
NC
 
Greenville, NC
 
1996
 
233,153

 
96.8
%
 
3,094

 
13.71

 
Harris Teeter (Kroger)
 
A.C. Moore, Barnes & Noble, Petco, T.J.Maxx
 
Target
237

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

 
100.0
%
 
1,808

 
9.45

 
-
 
Academy Sports + Outdoors, Dollar Tree, Fallas, Harbor Freight Tools, Ollie's Bargain Outlet
 
-
238

 
Kinston Pointe
 
Kinston
 
NC
 
Kinston, NC
 
2001
 
250,580

 
100.0
%
 
1,075

 
4.29

 
Walmart Supercenter
 
Dollar Tree
 
-
239

 
Magnolia Plaza
 
Morganton
 
NC
 
Hickory-Lenoir-Morganton, NC
 
1990
 
93,553

 
74.8
%
 
494

 
7.06

 
-
 
Big Lots, Harbor Freight Tools
 
-
240

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

 
93.8
%
 
1,394

 
15.28

 
-
 
Person County Health & Human Services
 
-
241

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

 
100.0
%
 
4,037

 
11.55

 
Food Lion (Delhaize)
 
Lowe's, Marshalls, Old Navy, PetSmart, Staples, Tinseltown
 
-
242

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

 
99.1
%
 
2,174

 
6.45

 
Walmart Supercenter
 
Big Lots, Burkes Outlet, Tractor Supply
 
-
243

 
Anson Station
 
Wadesboro
 
NC
 
-
 
1988
 
132,353

 
64.2
%
 
563

 
6.63

 
-
 
Peebles, Tractor Supply Co.
 
-
244

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

 
94.0
%
 
1,766

 
13.45

 
-
 
OfficeMax, PetSmart, Sportsmans Warehouse
 
Target
245

 
University Commons
 
Wilmington
 
NC
 
Wilmington, NC
 
2007
 
235,345

 
100.0
%
 
3,635

 
15.45

 
Lowes Foods
 
A.C. Moore, HomeGoods, T.J.Maxx
 
-
246

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

 
98.3
%
 
1,208

 
14.84

 
Harris Teeter (Kroger)
 
-
 
-
247

 
Parkway Plaza
 
Winston-Salem
 
NC
 
Winston-Salem, NC
 
2005
 
282,693

 
94.9
%
 
3,090

 
12.39

 
Super Compare Foods
 
Big Lots, Citi Trends, Modern Home, Office Depot
 
-
248

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

 
94.8
%
 
985

 
14.37

 
-
 
Golf Galaxy, Mattress Firm, OfficeMax
 
-
249

 
Bedford Grove
 
Bedford
 
NH
 
Manchester-Nashua, NH
 
1989
 
216,699

 
93.2
%
 
1,930

 
23.27

 
-
 
Bed Bath & Beyond, Boston Interiors, Walmart
 
-
250

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

 
100.0
%
 
2,060

 
11.53

 
Market Basket (DeMoulas Supermarkets)
 
Burlington Stores, JOANN, Marshalls
 
-
251

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

 
99.0
%
 
2,336

 
19.61

 
-
 
JC Penney, New Hampshire Liquor and Wine Outlet, Petco
 
The Home Depot
252

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

 
74.7
%
 
390

 
5.96

 
-
 
JOANN, NH1 MotorPlex
 
Cardi's Furniture, Ocean State Job Lot
253

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

 
98.0
%
 
1,429

 
9.72

 
Market Basket (DeMoulas Supermarkets)
 
T.J.Maxx
 
-
254

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

 
65.7
%
 
1,134

 
7.62

 
-
 
At Home, Planet Fitness
 
-
255

 
The Shoppes at Cinnaminson
 
Cinnaminson
 
NJ
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
2010
 
301,311

 
96.8
%
 
4,560

 
23.22

 
ShopRite
 
Burlington Stores, Planet Fitness, Ross Dress For Less
 
-
256

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

 
100.0
%
 
1,422

 
26.93

 
Acme (Albertsons)
 
-
 
-
257

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

 
96.4
%
 
2,197

 
9.10

 
-
 
Kmart, LA Fitness, Staples
 
-
258

 
Hamilton Plaza
 
Hamilton
 
NJ
 
Trenton, NJ
 
1972
 
150,919

 
100.0
%
 
1,370

 
9.08

 
-
 
Hibachi Grill & Supreme Buffet, Kmart, Planet Fitness
 
-
259

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

 
93.1
%
 
1,601

 
13.51

 
Super Stop & Shop (Ahold)
 
-
 
-
260

 
Marlton Crossing (2)
 
Marlton
 
NJ
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
2018
 
332,671

 
99.5
%
 
5,835

 
17.62

 
Sprouts Farmers Market
 
Burlington Stores, DSW, HomeGoods, Michaels, T.J. Maxx
 
-
261

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

 
91.0
%
 
3,695

 
20.91

 
ShopRite
 
Petco, Rite Aid
 
-
262

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

 
84.5
%
 
1,068

 
32.74

 
ShopRite
 
-
 
-
263

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

 
96.3
%
 
3,843

 
16.21

 
Bhavani Food Market
 
Marshalls, Modell's Sporting Goods, Pep Boys, Petco, Robert Wood Johnson Fitness
 
-
264

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

 
100.0
%
 
3,070

 
19.24

 
-
 
Blink Fitness (Equinox), Cinepolis, HomeGoods, Marshalls
 
-
265

 
Rio Grande Plaza
 
Rio Grande
 
NJ
 
Ocean City, NJ
 
1997
 
140,200

 
97.9
%
 
1,562

 
11.38

 
ShopRite*
 
Peebles, PetSmart, Planet Fitness
 
-
266

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

 
100.0
%
 
3,378

 
18.85

 
ShopRite
 
Pier 1 Imports, Staples
 
-
267

 
Springfield Place
 
Springfield
 
NJ
 
New York-Newark-Jersey City, NY-NJ-PA
 
1965
 
36,209

 
100.0
%
 
654

 
18.06

 
ShopRite
 
-
 
-
268

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

 
83.1
%
 
1,379

 
16.86

 
Acme (Albertsons)*
 
Dollar Tree, Jersey Strong
 
-
269

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

 
91.8
%
 
3,290

 
16.56

 
Walmart Supercenter*
 
Marshalls, Rainbow, Ross Dress for Less, Staples, ULTA
 
-
270

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

 
100.0
%
 
2,718

 
30.30

 
-
 
Minado, Stew Leonard's Wines, T.J.Maxx
 
-
271

 
Erie Canal Centre
 
Dewitt
 
NY
 
Syracuse, NY
2018
 
116,488

 
100.0
%
 
1,448

 
12.43

 
-
 
Burlington Stores, Dick's Sporting Goods, Michaels
 
-
272

 
Unity Plaza
 
East Fishkill
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2005
 
67,462

 
100.0
%
 
1,429

 
21.18

 
Acme (Albertsons)
 
True Value
 
-
273

 
Suffolk Plaza
 
East Setauket
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
1998
 
84,480

 
71.9
%
 
1,544

 
25.42

 
BJ's Wholesale*
 
24 Hour Fitness
 
Kohl's, Walmart
274

 
Three Village Shopping Center
 
East Setauket
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1991
 
77,458

 
93.2
%
 
1,889

 
26.16

 
Wild by Nature Market*, Stop & Shop*
 
Ace Hardware
 
Rite Aid
275

 
Stewart Plaza
 
Garden City
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1990
 
193,622

 
97.2
%
 
2,955

 
15.70

 
-
 
Burlington Stores, Dollar Tree, K&G Fashion Superstore
 
-

Supplemental Disclosure - Three Months Ended September 30, 2018
Page 46
jpgstandardlogoa21.jpg




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
Non-Owned
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
276

 
Dalewood I, II & III Shopping Center
 
Hartsdale
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1972
 
194,441

 
100.0
%
 
6,756

 
36.05

 
H-Mart
 
Christmas Tree Shops, Rite Aid, T.J.Maxx, Total Wine & More
 
-
277

 
Cayuga Mall
 
Ithaca
 
NY
 
Ithaca, NY
1969
 
204,830

 
85.0
%
 
1,719

 
9.88

 
-
 
Big Lots, JOANN, Party City, Rite Aid, True Value
 
-
278

 
Kings Park Plaza
 
Kings Park
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1985
 
72,208

 
100.0
%
 
1,500

 
20.77

 
Key Food Marketplace
 
T.J.Maxx
 
-
279

 
Village Square Shopping Center
 
Larchmont
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
1981
 
17,000

 
100.0
%
 
582

 
34.24

 
Trader Joe's
 
-
 
-
280

 
Falcaro's Plaza
 
Lawrence
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1972
 
61,118

 
84.0
%
 
1,282

 
24.97

 
KolSave Market*
 
Advance Auto Parts, Planet Fitness
 
-
281

 
Mamaroneck Centre (2)
 
Mamaroneck
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2018
 
26,727

 
100.0
%
 
957

 
35.81

 
North Shore Farms
 
CVS
 
-
282

 
Sunshine Square
 
Medford
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2007
 
223,322

 
90.9
%
 
2,778

 
13.69

 
Super Stop & Shop (Ahold)
 
Planet Fitness, Savers
 
-
283

 
Wallkill Plaza
 
Middletown
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1986
 
209,910

 
95.2
%
 
2,079

 
10.73

 
-
 
Ashley Furniture, Big Lots, Citi Trends, David's Bridal, Hobby Lobby
 
-
284

 
Monroe Plaza
 
Monroe
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1985
 
122,007

 
100.0
%
 
1,957

 
16.04

 
ShopRite
 
Retro Fitness, Rite Aid, U.S. Post Office
 
-
285

 
Rockland Plaza
 
Nanuet
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2006
 
251,537

 
98.7
%
 
6,556

 
26.40

 
A Matter of Health
 
Barnes & Noble, Charlotte Russe, Marshalls, Modell's Sporting Goods, Petco
 
-
286

 
North Ridge Shopping Center
 
New Rochelle
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
1971
 
38,395

 
90.8
%
 
1,341

 
38.48

 
-
 
Harmon Discount
 
-
287

 
Nesconset Shopping Center
 
Port Jefferson Station
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1961
 
122,996

 
97.2
%
 
2,666

 
22.31

 
-
 
Dollar Tree, HomeGoods
 
-
288

 
Roanoke Plaza
 
Riverhead
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2002
 
99,131

 
100.0
%
 
1,841

 
18.57

 
Best Market
 
CVS, T.J.Maxx
 
-
289

 
The Shops at Riverhead
 
Riverhead
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2018
 
111,669

 
100.0
%
 
2,486

 
22.26

 
Costco*
 
HomeSense, Marshalls, Petsmart, Ulta
 
-
290

 
Rockville Centre
 
Rockville Centre
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1975
 
44,131

 
94.3
%
 
1,112

 
26.71

 
-
 
HomeGoods, Rite Aid
 
-
291

 
Mohawk Acres Plaza
 
Rome
 
NY
 
Utica-Rome, NY
 
2005
 
156,680

 
83.0
%
 
1,298

 
21.60

 
Price Chopper
 
Family Dollar
 
-
292

 
College Plaza
 
Selden
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2013
 
180,182

 
96.6
%
 
3,104

 
18.30

 
ShopRite
 
A.C. Moore, Blink Fitness (Equinox), Bob's Stores
 
Firestone
293

 
Campus Plaza
 
Vestal
 
NY
 
Binghamton, NY
 
2003
 
160,744

 
98.4
%
 
1,817

 
11.49

 
-
 
Olum's Furniture & Appliances, Rite Aid, Staples
 
-
294

 
Parkway Plaza
 
Vestal
 
NY
 
Binghamton, NY
 
1995
 
207,154

 
100.0
%
 
2,263

 
10.92

 
PriceRite (Wakefern)
 
Bed Bath & Beyond, Kohl's, PetSmart
 
Target
295

 
Shoppes at Vestal
 
Vestal
 
NY
 
Binghamton, NY
 
2000
 
92,328

 
100.0
%
 
1,494

 
16.18

 
-
 
HomeGoods, Michaels, Old Navy
 
-
296

 
Town Square Mall
 
Vestal
 
NY
 
Binghamton, NY
 
1991
 
293,181

 
97.3
%
 
4,865

 
17.05

 
Sam's Club*, Walmart Supercenter*
 
A.C. Moore, AMC Cinemas, Barnes & Noble, Dick's Sporting Goods, Dollar Tree, DSW, T.J.Maxx, Ulta
 
-
297

 
The Plaza at Salmon Run
 
Watertown
 
NY
 
Watertown-Fort Drum, NY
 
1993
 
68,761

 
94.1
%
 
707

 
10.92

 
Hannaford Bros. (Delhaize)
 
Red Robin Gourmet Burger
 
Lowe's
298

 
Highridge Plaza
 
Yonkers
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1977
 
88,501

 
97.3
%
 
2,506

 
29.11

 
H-Mart
 
-
 
-
299

 
Brunswick Town Center
 
Brunswick
 
OH
 
Cleveland-Elyria, OH
 
2004
 
138,407

 
98.7
%
 
1,935

 
14.17

 
Giant Eagle
 
-
 
The Home Depot
300

 
30th Street Plaza
 
Canton
 
OH
 
Canton-Massillon, OH
 
1999
 
145,935

 
94.4
%
 
1,481

 
10.75

 
Giant Eagle, Marc's
 
-
 
-
301

 
Brentwood Plaza
 
Cincinnati
 
OH
 
Cincinnati, OH-KY-IN
 
2004
 
222,174

 
94.8
%
 
2,411

 
18.04

 
Kroger
 
Petco, Planet Fitness, Rainbow
 
-
302

 
Delhi Shopping Center
 
Cincinnati
 
OH
 
Cincinnati, OH-KY-IN
 
1973
 
164,750

 
97.4
%
 
1,459

 
9.09

 
Kroger
 
Pet Supplies Plus
 
-
303

 
Harpers Station
 
Cincinnati
 
OH
 
Cincinnati, OH-KY-IN
 
1994
 
252,233

 
99.0
%
 
3,569

 
14.30

 
Fresh Thyme Farmers Market
 
HomeGoods, LA Fitness, Pet Supplies Plus, Stein Mart, T.J.Maxx
 
-
304

 
Western Hills Plaza
 
Cincinnati
 
OH
 
Cincinnati, OH-KY-IN
 
1954
 
314,754

 
100.0
%
 
3,959

 
12.93

 
-
 
Bed Bath & Beyond, Michaels, Staples, T.J.Maxx
 
Target
305

 
Western Village
 
Cincinnati
 
OH
 
Cincinnati, OH-KY-IN
 
2005
 
115,116

 
96.3
%
 
1,046

 
30.54

 
Kroger
 
-
 
-
306

 
Crown Point
 
Columbus
 
OH
 
Columbus, OH
 
1980
 
144,931

 
91.0
%
 
1,298

 
9.84

 
Kroger
 
Dollar Tree, Planet Fitness
 
-
307

 
Greentree Shopping Center
 
Columbus
 
OH
 
Columbus, OH
 
2005
 
131,573

 
84.9
%
 
1,183

 
11.41

 
Kroger
 
-
 
-
308

 
Brandt Pike Place
 
Dayton
 
OH
 
Dayton, OH
 
2008
 
17,900

 
88.8
%
 
164

 
10.31

 
Kroger*
 
-
 
-
309

 
South Towne Centre
 
Dayton
 
OH
 
Dayton, OH
 
1972
 
333,998

 
100.0
%
 
4,533

 
14.16

 
Health Foods Unlimited
 
Burlington Stores, Christmas Tree Shops, JOANN, Party City, Petsmart, Value City Furniture
 
-
310

 
Southland Shopping Center
 
Middleburg Heights
 
OH
 
Cleveland-Elyria, OH
 
1951
 
695,261

 
96.4
%
 
6,857

 
10.23

 
BJ's Wholesale Club, Giant Eagle, Marc's
 
Aspire Fitness, Burlington Stores, Cleveland Furniture Bank, JOANN, Marshalls, Party City
 
-
311

 
The Shoppes at North Olmsted
 
North Olmsted
 
OH
 
Cleveland-Elyria, OH
 
2002
 
70,003

 
100.0
%
 
1,171

 
16.73

 
-
 
Ollie's Bargain Outlet, Sears Outlet
 
-
312

 
Surrey Square
 
Norwood
 
OH
 
Cincinnati, OH-KY-IN
 
2010
 
175,167

 
96.7
%
 
2,174

 
25.56

 
Kroger
 
Marshalls
 
-
313

 
Market Place
 
Piqua
 
OH
 
Dayton, OH
 
1972
 
182,487

 
89.6
%
 
685

 
7.65

 
Kroger
 
Roses
 
-
314

 
Brice Park
 
Reynoldsburg
 
OH
 
Columbus, OH
 
1989
 
158,565

 
88.1
%
 
1,202

 
9.37

 
-
 
Ashley Furniture, Citi Trends, Dollar Tree, Michaels
 
-
315

 
Streetsboro Crossing
 
Streetsboro
OH
 
Akron, OH
 
2002
 
89,436

 
100.0
%
 
694

 
7.76

 
Giant Eagle
 
-
 
Lowe's, Target
316

 
Miracle Mile Shopping Plaza
 
Toledo
 
OH
 
Toledo, OH
 
1955
 
315,515

 
80.8
%
 
2,012

 
13.51

 
Kroger
 
Aspire Fitness, Big Lots, Harbor Freight Tools
 
-

Supplemental Disclosure - Three Months Ended September 30, 2018
Page 47
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PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
Non-Owned
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
317

 
Wadsworth Crossings
 
Wadsworth
 
OH
 
Cleveland-Elyria, OH
 
2005
 
118,145

 
71.8
%
 
1,532

 
18.74

 
-
 
OfficeMax, Petco, Planet Fitness
 
Kohl's, Lowe's, Target
318

 
Marketplace
 
Tulsa
 
OK
 
Tulsa, OK
 
1992
 
186,851

 
100.0
%
 
1,900

 
10.17

 
-
 
Basset Home Furnishings, Conn's, David's Bridal, Boot Barn, PetSmart
 
Best Buy
319

 
Village West
 
Allentown
 
PA
 
Allentown-Bethlehem-Easton, PA-NJ
 
1999
 
140,474

 
99.4
%
 
2,671

 
19.14

 
Giant Food (Ahold)
 
CVS, Dollar Tree
 
-
320

 
Park Hills Plaza
 
Altoona
 
PA
 
Altoona, PA
 
1985
 
258,818

 
82.4
%
 
1,970

 
9.33

 
Weis Markets
 
A.C. Moore, Dunham's Sports, Harbor Freight, Shoe Carnival
 
-
321

 
Bensalem Square
 
Bensalem
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1986
 
70,378

 
100.0
%
 
775

 
11.01

 
Redner's Warehouse Market
 
-
 
Premiere Storage
322

 
Bethel Park Shopping Center
 
Bethel Park
 
PA
 
Pittsburgh, PA
 
1965
 
199,079

 
100.0
%
 
1,953

 
10.88

 
Giant Eagle
 
Walmart
 
-
323

 
Bethlehem Square
 
Bethlehem
 
PA
 
Allentown-Bethlehem-Easton, PA-NJ
 
1994
 
389,450

 
96.9
%
 
3,662

 
14.85

 
Giant Food (Ahold)
 
T.J.Maxx, The Home Depot, Walmart
 
-
324

 
Lehigh Shopping Center
 
Bethlehem
 
PA
 
Allentown-Bethlehem-Easton, PA-NJ
 
1955
 
373,766

 
92.1
%
 
3,673

 
13.61

 
Giant Food (Ahold)
 
Aetna, Big Lots, Citi Trends, Dollar Tree, Mega Marshalls, PetSmart, Rite Aid, Staples, Wines & Spirits
 
-
325

 
Bristol Park
 
Bristol
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1993
 
282,654

 
89.5
%
 
2,300

 
9.09

 
-
 
Ollie's Bargain Outlet
 
-
326

 
Chalfont Village Shopping Center
 
Chalfont
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1989
 
46,051

 
73.6
%
 
417

 
12.30

 
-
 
-
 
-
327

 
New Britain Village Square
 
Chalfont
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1989
 
143,716

 
91.4
%
 
2,495

 
19.00

 
Giant Food (Ahold)
 
Wine & Spirits Shoppe
 
-
328

 
Collegeville Shopping Center (2)
 
Collegeville
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
2018
 
110,696

 
72.9
%
 
1,158

 
14.36

 
Kimberton Whole Foods
 
Pep Boys, Rascal Fitness
 
-
329

 
Whitemarsh Shopping Center
 
Conshohocken
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
2002
 
67,476

 
100.0
%
 
1,611

 
23.88

 
Giant Food (Ahold)
 
Wine & Spirits Shoppe
 
-
330

 
Valley Fair
 
Devon
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
2001
 
105,086

 
100.0
%
 
1,098

 
10.45

 
-
 
Chuck E. Cheese's, Mealey's Furniture
 
-
331

 
Dickson City Crossings
 
Dickson City
 
PA
 
Scranton--Wilkes-Barre--Hazleton, PA
 
1997
 
312,699

 
94.9
%
 
3,334

 
18.19

 
-
 
Burlington Stores, Dollar Tree, Gabe's, Party City, PetSmart, T.J.Maxx, The Home Depot
 
-
332

 
Barn Plaza
 
Doylestown
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
2002
 
237,681

 
98.2
%
 
3,379

 
14.48

 
-
 
Kohl's, Marshalls, Regal Cinemas
 
-
333

 
Pilgrim Gardens
 
Drexel Hill
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1955
 
75,223

 
100.0
%
 
1,293

 
17.19

 
-
 
Dollar Tree, Ross Dress for Less, Tuesday Morning, US Post Office
 
-
334

 
Kline Plaza
 
Harrisburg
 
PA
 
Harrisburg-Carlisle, PA
 
1952
 
214,628

 
85.6
%
 
1,765

 
9.61

 
Giant Food (Ahold)
 
Citi Trends
 
-
335

 
New Garden Center
 
Kennett Square
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1979
 
144,920

 
94.9
%
 
995

 
7.39

 
-
 
Big Lots, Ollie's Bargain Outlet
 
-
336

 
Stone Mill Plaza
 
Lancaster
PA
 
Lancaster, PA
 
2008
 
106,736

 
100.0
%
 
1,346

 
12.61

 
Giant Food (Ahold)
 
-
 
-
337

 
Woodbourne Square
 
Langhorne
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1984
 
29,821

 
88.3
%
 
567

 
21.54

 
-
 
-
 
-
338

 
North Penn Market Place
 
Lansdale
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1977
 
58,358

 
90.7
%
 
961

 
19.48

 
Weis Markets*
 
-
 
-
339

 
Village at Newtown (2)
 
Newtown
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
2018
 
186,422

 
91.3
%
 
5,011

 
29.77

 
McCaffrey's
 
Pier 1 Imports
 
-
340

 
Ivyridge
 
Philadelphia
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1963
 
106,353

 
100.0
%
 
2,677

 
25.17

 
-
 
Dollar Tree, Target, Wine & Spirits
 
-
341

 
Roosevelt Mall
 
Philadelphia
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1964
 
561,863

 
97.3
%
 
8,085

 
34.62

 
-
 
Macy's, Modell's Sporting Goods, Rainbow, Ross Dress For Less
 
-
342

 
Shoppes at Valley Forge
 
Phoenixville
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
2003
 
176,676

 
94.9
%
 
1,309

 
7.81

 
Redner's Warehouse Market
 
French Creek Outfitters, Staples
 
-
343

 
County Line Plaza
 
Souderton
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1971
 
154,758

 
97.1
%
 
1,520

 
10.52

 
ALDI
 
Dollar Tree, Planet Fitness, Rite Aid, VF Outlet
 
-
344

 
69th Street Plaza
 
Upper Darby
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1994
 
41,711

 
100.0
%
 
417

 
10.00

 
Fresh Grocer (Wakefern)*
 
EZ Bargains, Rent-A-Center, Super Dollar City
 
-
345

 
Warminster Town Center
 
Warminster
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1997
 
237,152

 
100.0
%
 
3,645

 
16.68

 
ShopRite
 
A.C. Moore, Modell's Sporting Goods, Old Navy, Party City, PetSmart, Ross Dress for Less
 
Kohl's
346

 
Shops at Prospect
 
West Hempfield
 
PA
 
Lancaster, PA
 
1994
 
63,392

 
97.6
%
 
780

 
12.60

 
Musser's Markets
 
Dollar Tree
 
Kmart
347

 
Whitehall Square
 
Whitehall
 
PA
 
Allentown-Bethlehem-Easton, PA-NJ
 
2006
 
315,192

 
93.4
%
 
3,411

 
11.59

 
Redner's Warehouse Market
 
Dollar Tree, Gabe's, Mealey's Furniture, National Tire & Battery, PetSmart, Ross Dress for Less, Staples
 
-
348

 
Wilkes-Barre Township Marketplace
 
Wilkes-Barre
 
PA
 
Scranton--Wilkes-Barre--Hazleton, PA
2004
 
307,610

 
97.9
%
 
2,301

 
32.66

 
Walmart Supercenter
 
Chuck E Cheese, Cracker Barrel, Party City, Shoe Carnival
 
-
349

 
Belfair Towne Village
 
Bluffton
 
SC
 
Hilton Head Island-Bluffton-Beaufort, SC
 
2006
 
165,039

 
94.4
%
 
2,358

 
15.14

 
Kroger
 
Stein Mart
 
-
350

 
Milestone Plaza
 
Greenville
 
SC
 
Greenville-Anderson-Mauldin, SC
 
1995
 
89,721

 
98.5
%
 
1,585

 
19.04

 
BI-LO (Southeastern Grocers)
 
-
 
-
351

 
Circle Center
 
Hilton Head
 
SC
 
Hilton Head Island-Bluffton-Beaufort, SC
 
2000
 
65,313

 
96.9
%
 
877

 
13.85

 
BI-LO (Southeastern Grocers)
 
-
 
-
352

 
Island Plaza
 
James Island
 
SC
 
Charleston-North Charleston, SC
1994
 
171,224

 
100.0
%
 
1,565

 
9.14

 
Food Lion (Delhaize)
 
Dollar Tree, Gold's Gym, Tuesday Morning
 
-
353

 
Festival Centre
 
North Charleston
 
SC
 
Charleston-North Charleston, SC
1987
 
325,347

 
88.4
%
 
2,625

 
9.24

 
-
 
Gold's Gym, Intercontinental Hotels Group, New Spring Church, Sears Outlet
 
-
354

 
Fairview Corners I & II
 
Simpsonville
 
SC
 
Greenville-Anderson-Mauldin, SC
2003
 
131,002

 
100.0
%
 
2,062

 
15.74

 
-
 
Ross Dress for Less, T.J.Maxx
 
Target
355

 
Hillcrest Market Place
 
Spartanburg
 
SC
 
Spartanburg, SC
1965
 
358,040

 
92.3
%
 
3,858

 
12.26

 
Publix
 
Marshalls, NCG Cinemas, Office Depot, Petco, Ross Dress for Less, Stein Mart
 
-

Supplemental Disclosure - Three Months Ended September 30, 2018
Page 48
jpgstandardlogoa21.jpg




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
Non-Owned
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
356

 
East Ridge Crossing
 
Chattanooga
 
TN
 
Chattanooga, TN-GA
1999
 
58,950

 
86.1
%
 
552

 
10.88

 
Food Lion (Delhaize)
 
-
 
-
357

 
Watson Glen Shopping Center
 
Franklin
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
1988
 
265,027

 
100.0
%
 
2,873

 
10.94

 
ALDI
 
At Home, Big Lots, Franklin Athletic Club, Trees n Trends
 
-
358

 
Williamson Square
 
Franklin
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
 
1988
 
331,386

 
99.5
%
 
3,748

 
11.36

 
-
 
Family Leisure, Goldfish Swim School, Grace Church Nashville, Hard Knocks, Hobby Lobby, Planet Fitness
 
-
359

 
Greeneville Commons
 
Greeneville
 
TN
 
Greeneville, TN
 
2002
 
228,043

 
94.0
%
 
1,539

 
12.28

 
-
 
Belk, Burkes Outlet, Five Below, Hobby Lobby, Marshalls, Ross Dress for Less
 
-
360

 
Kingston Overlook
 
Knoxville
 
TN
 
Knoxville, TN
1996
 
122,536

 
100.0
%
 
1,141

 
9.56

 
-
 
Badcock Home Furniture, Sears Outlet, Urban Air Trampoline & Adventure Park
 
-
361

 
Farrar Place
 
Manchester
 
TN
 
Tullahoma-Manchester, TN
1989
 
43,220

 
100.0
%
 
388

 
8.98

 
Food Lion (Delhaize)
 
-
 
-
362

 
The Commons at Wolfcreek
 
Memphis
 
TN
 
Memphis, TN-MS-AR
2014
 
659,193

 
89.8
%
 
8,620

 
14.83

 
-
 
Academy Sports + Outdoors, Best Buy, Big Lots, Dave & Busters, David's Bridal, DSW, Office Depot, Painted Tree Marketplace, PetSmart, T.J.Maxx, Value City Furniture
 
Target, The Home Depot
363

 
Georgetown Square
 
Murfreesboro
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
 
2003
 
114,117

 
90.3
%
 
1,265

 
12.27

 
Kroger
 
Aaron's
 
-
364

 
Nashboro Village
 
Nashville
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
1998
 
86,811

 
100.0
%
 
1,092

 
12.58

 
Kroger
 
-
 
Walgreens
365

 
Commerce Central
 
Tullahoma
 
TN
 
Tullahoma-Manchester, TN
 
1995
 
182,401

 
98.9
%
 
1,310

 
7.26

 
Walmart Supercenter
 
Dollar Tree
 
-
366

 
Merchant's Central
 
Winchester
 
TN
 
Tullahoma-Manchester, TN
1997
 
208,123

 
95.2
%
 
1,202

 
6.07

 
Walmart Supercenter
 
Goody's
 
-
367

 
Palm Plaza
 
Aransas
 
TX
 
Corpus Christi, TX
2002
 
50,475

 
92.3
%
 
327

 
7.02

 
-
 
Bealls (Stage Stores), Family Dollar
 
-
368

 
Parmer Crossing
 
Austin
 
TX
 
Austin-Round Rock, TX
1989
 
163,712

 
98.4
%
 
1,863

 
11.56

 
Big Bazar Grocery
 
Big Lots, Dollar Tree, Harbor Freight Tools, Mega Furniture, Planet Fitness
 
Fry's Electronics
369

 
Baytown Shopping Center
 
Baytown
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1987
 
95,941

 
91.2
%
 
979

 
11.19

 
-
 
24 Hour Fitness
 
-
370

 
El Camino
 
Bellaire
 
TX
 
Houston-The Woodlands-Sugar Land, TX
2008
 
71,651

 
100.0
%
 
688

 
9.60

 
El Ahorro Supermarket
 
Dollar Tree, Family Dollar
 
-
371

 
Bryan Square
 
Bryan
 
TX
 
College Station-Bryan, TX
2008
 
59,029

 
100.0
%
 
401

 
7.91

 
-
 
99 Cents Only, Citi Trends, Dollar Floor Store, Firestone
 
-
372

 
Townshire
 
Bryan
 
TX
 
College Station-Bryan, TX
2002
 
136,887

 
90.3
%
 
1,015

 
8.21

 
-
 
Tops Printing
 
-
373

 
Plantation Plaza
 
Clute
 
TX
 
Houston-The Woodlands-Sugar Land, TX
1997
 
99,141

 
46.3
%
 
483

 
10.99

 
-
 
Dollar Tree, Walgreens
 
-
374

 
Central Station
 
College Station
 
TX
 
College Station-Bryan, TX
1976
 
176,847

 
86.7
%
 
2,733

 
18.30

 
-
 
Dollar Tree, Party City, Spec's Liquors
 
Kohl's
375

 
Rock Prairie Crossing
 
College Station
 
TX
 
College Station-Bryan, TX
 
2002
 
118,700

 
96.6
%
 
1,317

 
27.08

 
Kroger
 
CVS
 
-
376

 
Carmel Village
 
Corpus Christi
 
TX
 
Corpus Christi, TX
 
1993
 
84,075

 
82.7
%
 
738

 
10.61

 
-
 
Bay Area Dialysis, Bealls (Stage Stores), Tuesday Morning
 
-
377

 
Five Points
Corpus Christi
 
TX
 
Corpus Christi, TX
 
1985
 
277,046

 
91.2
%
 
3,189

 
12.83

 
-
 
Bealls (Stage Stores), Burkes Outlet, Harbor Freight Tools, Hobby Lobby, Party City, Ross Dress for Less
 
-
378

 
Claremont Village
 
Dallas
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1976
 
66,980

 
100.0
%
 
585

 
8.83

 
-
 
Family Dollar
 
-
379

 
Kessler Plaza
 
Dallas
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1975
 
68,962

 
48.0
%
 
503

 
15.20

 
-
 
Family Dollar
 
-
380

 
Stevens Park Village
 
Dallas
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1974
 
45,492

 
100.0
%
 
460

 
10.11

 
-
 
Big Lots, O'Reilly Auto Parts
 
-
381

 
Webb Royal Plaza
 
Dallas
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1961
 
108,545

 
100.0
%
 
1,162

 
11.18

 
El Rio Grande Latin Market
 
Family Dollar
 
-
382

 
Wynnewood Village (2)
 
Dallas
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2018
 
530,064

 
94.8
%
 
5,444

 
12.90

 
El Rancho, Kroger
 
Fallas, Gen X Clothing, Ross Dress for Less
 
-
383

 
Parktown
 
Deer Park
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
118,221

 
92.8
%
 
957

 
8.72

 
Food Town
 
Burkes Outlet, Walgreens
 
-
384

 
Kenworthy Crossing
 
El Paso
 
TX
 
El Paso, TX
 
2003
 
74,393

 
91.0
%
 
719

 
10.63

 
Albertsons
 
-
 
Anytime Fitness
385

 
Preston Ridge
 
Frisco
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2018
 
789,559

 
96.1
%
 
15,787

 
20.94

 
SuperTarget*
 
Best Buy, Big Lots, Boot Barn, DSW, Old Navy, Marshalls, Nordstrom Rack, Ross Dress for Less, Saks OFF Fifth, Stein Mart, T.J.Maxx
 
-
386

 
Forest Hills Village
 
Ft. Worth
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1968
 
69,651

 
100.0
%
 
399

 
5.73

 
Foodland Markets
 
Family Dollar, Hi Style Fashion
 
-
387

 
Ridglea Plaza
 
Ft. Worth
 
TX
 
Dallas-Fort Worth-Arlington, TX
1990
 
170,519

 
97.1
%
 
1,929

 
11.65

 
Tom Thumb (Albertsons)
 
Goody Goody Wine & Spirits, Stein Mart
 
-
388

 
Trinity Commons
 
Ft. Worth
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1998
 
197,423

 
96.6
%
 
3,831

 
20.08

 
Tom Thumb (Albertsons)
 
DSW
 
-
389

 
Village Plaza
 
Garland
 
TX
 
Dallas-Fort Worth-Arlington, TX
2002
 
89,444

 
100.0
%
 
1,116

 
12.54

 
Truong Nguyen Grocer
 
-
 
-
390

 
North Hills Village
 
Haltom City
 
TX
 
Dallas-Fort Worth-Arlington, TX
1998
 
43,299

 
84.7
%
 
269

 
7.33

 
-
 
Dollar Tree
 
-
391

 
Highland Village Town Center
 
Highland Village
 
TX
 
Dallas-Fort Worth-Arlington, TX
1996
 
99,341

 
72.2
%
 
821

 
11.45

 
-
 
Painted Tree Marketplace
 
-
392

 
Bay Forest
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2004
 
71,667

 
98.3
%
 
782

 
11.10

 
Kroger
 
-
 
-
393

 
Beltway South
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
1998
 
107,174

 
97.0
%
 
989

 
29.22

 
Kroger
 
-
 
-
394

 
Braes Heights (2)
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2018
 
92,904

 
92.0
%
 
2,305

 
26.98

 
-
 
CVS, Imagination Toys, I W Marks Jewelers
 
-
395

 
Braes Oaks Center
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1992
 
42,567

 
93.8
%
 
434

 
10.87

 
-
 
-
 
-

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PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
Non-Owned
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
396

 
Braesgate
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1997
 
91,382

 
98.3
%
 
606

 
6.74

 
Food Town
 
-
 
-
397

 
Broadway
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
2006
 
74,717

 
100.0
%
 
786

 
10.93

 
El Ahorro Supermarket
 
Fallas, Melrose Fashions
 
-
398

 
Clear Lake Camino South
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
1964
 
105,501

 
92.9
%
 
1,437

 
15.66

 
ALDI
 
24 Hour Fitness, Mr. Gatti's Pizza, Spec's Liquors
 
-
399

 
Hearthstone Corners
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1998
 
208,147

 
67.5
%
 
1,352

 
9.62

 
-
 
Big Lots, Stein Mart
 
-
400

 
Jester Village
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1988
 
62,665

 
95.1
%
 
734

 
12.32

 
-
 
24 Hour Fitness
 
-
401

 
Jones Plaza
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2000
 
111,206

 
70.1
%
 
875

 
11.23

 
-
 
Fitness Connection
 
-
402

 
Jones Square
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
169,003

 
100.0
%
 
1,306

 
7.83

 
-
 
Big Lots, Hobby Lobby
 
-
403

 
Maplewood
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2004
 
93,711

 
88.1
%
 
682

 
8.26

 
Foodarama
 
Burke's Outlet
 
-
404

 
Merchants Park
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2009
 
243,798

 
100.0
%
 
3,494

 
14.33

 
Kroger
 
Big Lots, Petco, Ross Dress for Less, Tuesday Morning
 
-
405

 
Northgate
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1972
 
40,244

 
100.0
%
 
329

 
8.18

 
El Rancho*
 
Affordable Furniture, Firestone, Lumber Liquidators, TitleMax
 
-
406

 
Northshore
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2001
 
223,954

 
91.6
%
 
2,793

 
13.85

 
Sellers Bros.
 
Conn's, Office Depot
 
-
407

 
Northtown Plaza
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1960
 
190,559

 
96.5
%
 
2,294

 
12.64

 
El Rancho
 
99 Cents Only, dd's Discounts (Ross)
 
-
408

 
Northwood Plaza
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1972
 
136,747

 
100.0
%
 
1,644

 
12.22

 
Food City
 
-
 
-
409

 
Orange Grove
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2005
 
184,704

 
97.3
%
 
1,820

 
10.57

 
-
 
24 Hour Fitness, Floor & Décor
 
-
410

 
Pinemont Shopping Center
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
68,378

 
100.0
%
 
912

 
13.66

 
-
 
Family Dollar, Houston Community College
 
-
411

 
Royal Oaks Village
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2001
 
144,929

 
98.2
%
 
3,348

 
23.53

 
H-E-B
 
-
 
-
412

 
Tanglewilde Center
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1998
 
83,725

 
100.0
%
 
1,182

 
14.24

 
ALDI
 
Dollar Tree, Party City, Salon In The Park
 
-
413

 
Westheimer Commons
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1984
 
241,253

 
91.0
%
 
2,095

 
9.54

 
Fiesta Mart
 
King Dollar, Marshalls
 
-
414

 
Fry Road Crossing
 
Katy
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2005
 
240,940

 
100.0
%
 
2,566

 
11.19

 
-
 
Hobby Lobby, Palais Royal, Stein Mart
 
-
415

 
Washington Square
 
Kaufman
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1978
 
64,230

 
85.1
%
 
368

 
6.74

 
-
 
AutoZone, Bealls (Stage Stores), Dollar Tree
 
-
416

 
Jefferson Park
 
Mount Pleasant
 
TX
 
Mount Pleasant, TX
 
2001
 
130,096

 
99.1
%
 
935

 
7.25

 
Super 1 Foods
 
Harbor Freight Tools, PetSense
 
-
417

 
Winwood Town Center
 
Odessa
 
TX
 
Odessa, TX
 
2002
 
365,534

 
100.0
%
 
3,049

 
13.35

 
H-E-B
 
dd's Discounts (Ross), Michaels, Office Depot, Party City, Ross Dress for Less, Target
 
-
418

 
Crossroads Centre - Pasadena
 
Pasadena
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1997
 
146,567

 
94.3
%
 
1,982

 
15.31

 
Kroger
 
LA Fitness
 
-
419

 
Spencer Square
 
Pasadena
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1998
 
186,732

 
91.3
%
 
2,040

 
12.33

 
Kroger
 
Burkes Outlet
 
-
420

 
Pearland Plaza
 
Pearland
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1995
 
156,491

 
94.6
%
 
1,142

 
7.71

 
Kroger
 
Harbor Freight Tools, Walgreens
 
-
421

 
Market Plaza
 
Plano
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2002
 
137,658

 
81.2
%
 
2,618

 
24.64

 
Central Market (H-E-B)
 
-
 
-
422

 
Preston Park Village
 
Plano
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1985
 
270,128

 
86.7
%
 
5,914

 
25.26

 
-
 
Gap Factory Store, Infinite Bounds Gymnastics
 
-
423

 
Northshore Plaza
 
Portland
 
TX
 
Corpus Christi, TX
 
2000
 
152,144

 
97.4
%
 
1,117

 
15.19

 
H-E-B
 
Bealls (Stage Stores)
 
-
424

 
Klein Square
 
Spring
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
80,636

 
93.8
%
 
741

 
9.79

 
Food Town
 
Family Dollar, Petco
 
-
425

 
Keegan's Meadow
 
Stafford
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
125,293

 
93.9
%
 
1,282

 
11.23

 
El Rancho
 
Palais Royal
 
-
426

 
Texas City Bay
 
Texas City
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2005
 
223,152

 
61.0
%
 
1,380

 
10.21

 
Kroger
 
Planet Fitness
 
-
427

 
Windvale Center
 
The Woodlands
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2002
 
101,088

 
98.3
%
 
1,155

 
27.48

 
Randalls (Albertsons)
 
-
 
-
428

 
The Centre at Navarro
 
Victoria
 
TX
 
Victoria, TX
 
2005
 
66,102

 
94.7
%
 
736

 
16.55

 
ALDI
 
Planet Fitness, Walgreens
 
-
429

 
Spradlin Farm
 
Christiansburg
 
VA
 
Blacksburg-Christiansburg-Radford, VA
 
2000
 
181,055

 
100.0
%
 
2,740

 
15.39

 
-
 
Barnes & Noble, Big Lots, Michaels, Petco, T.J.Maxx
 
Target, The Home Depot
430

 
Culpeper Town Square
 
Culpeper
 
VA
 
Washington-Arlington-Alexandria, DC-VA-MD-WV
 
1999
 
132,882

 
95.2
%
 
1,150

 
9.09

 
Weis Markets
 
Mountain Run Bowling, Tractor Supply Co.
 
-
431

 
Hanover Square
 
Mechanicsville
 
VA
 
Richmond, VA
 
1991
 
136,680

 
99.3
%
 
2,000

 
14.74

 
-
 
Gold's Gym, Hobby Lobby
 
Kohl's
432

 
Tuckernuck Square
 
Richmond
 
VA
 
Richmond, VA
 
1981
 
86,010

 
95.5
%
 
1,271

 
15.48

 
-
 
2nd & Charles, Chuck E. Cheese's
 
-
433

 
Cave Spring Corners
 
Roanoke
 
VA
 
Roanoke, VA
 
2005
 
147,133

 
100.0
%
 
1,194

 
13.53

 
Kroger
 
Hamrick's
 
-
434

 
Hunting Hills
 
Roanoke
 
VA
 
Roanoke, VA
 
1989
 
167,875

 
95.3
%
 
1,461

 
9.13

 
-
 
Dollar Tree, Kohl's, PetSmart
 
-
435

 
Valley Commons
 
Salem
 
VA
 
Roanoke, VA
 
1988
 
45,580

 
23.0
%
 
107

 
10.19

 
-
 
-
 
AMC Theatres
436

 
Lake Drive Plaza
 
Vinton
 
VA
 
Roanoke, VA
 
2008
 
163,290

 
100.0
%
 
1,341

 
8.22

 
Kroger
 
Big Lots, Dollar Tree
 
-
437

 
Hilltop Plaza
 
Virginia Beach
 
VA
 
Virginia Beach-Norfolk-Newport News, VA-NC
 
2010
 
150,300

 
93.8
%
 
2,636

 
20.74

 
Trader Joe's
 
Kirkland’s, PetSmart, Ulta
 
-
438

 
Ridgeview Centre
 
Wise
 
VA
 
Big Stone Gap, VA
 
1990
 
190,242

 
78.6
%
 
1,157

 
7.73

 
-
 
Dollar Tree, Grand Home Furnishings, Harbor Freight Tools, Marshalls, Ollie's Bargain Outlet
 
Belk
439

 
Rutland Plaza
 
Rutland
 
VT
 
Rutland, VT
 
1997
 
224,514

 
99.5
%
 
2,025

 
9.07

 
Price Chopper
 
Dollar Tree, Flagship Cinemas, T.J.Maxx, Walmart
 
-

Supplemental Disclosure - Three Months Ended September 30, 2018
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PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
Non-Owned
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
440

 
Spring Mall
 
Greenfield
 
WI
 
Milwaukee-Waukesha-West Allis, WI
2003
 
182,632

 
86.4
%
 
1,100

 
8.38

 
-
 
T.J.Maxx
 
-
441

 
Mequon Pavilions
 
Mequon
 
WI
 
Milwaukee-Waukesha-West Allis, WI
 
1967
 
219,454

 
86.9
%
 
3,119

 
16.36

 
Sendik's Food Market
 
Bed Bath & Beyond, DSW, Marshalls
 
-
442

 
Moorland Square Shopping Ctr
 
New Berlin
 
WI
 
Milwaukee-Waukesha-West Allis, WI
 
1990
 
98,303

 
100.0
%
 
1,014

 
10.32

 
Pick 'n Save (Kroger)
 
-
 
-
443

 
Paradise Pavilion
 
West Bend
 
WI
 
Milwaukee-Waukesha-West Allis, WI
 
2000
 
203,545

 
95.2
%
 
1,393

 
7.19

 
-
 
Hobby Lobby, Kohl's
 
ShopKo
444

 
Moundsville Plaza
 
Moundsville
 
WV
 
Wheeling, WV-OH
 
2004
 
176,156

 
98.3
%
 
1,284

 
7.42

 
Kroger
 
Big Lots, Dunham's Sports, Peebles
 
-
445

 
Grand Central Plaza
 
Parkersburg
 
WV
 
Parkersburg-Vienna, WV
 
1986
 
75,344

 
100.0
%
 
866

 
11.49

 
-
 
Office Depot, O'Reilly Auto Parts, T.J.Maxx
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL PORTFOLIO
 
 
 
 
 
 
 
 
76,577,108
 
 
92.5
%
 
$
911,116

 
$
13.89

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) * Indicates grocer is not owned.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(2) Indicates property is currently in redevelopment.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2018
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