Form: 8-K

Current report

Exhibit 99.2


q418suppcover.jpg



 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SUPPLEMENTAL DISCLOSURE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended December 31, 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 sections entitled "Forward-Looking Statements" and “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this document and in the Company’s filings with the SEC. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.


Supplemental Disclosure - Three Months Ended December 31, 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, plus (ii)
 
 
 
 
depreciation and amortization of operating properties, (iii) impairment of operating properties and real estate equity investments and (iv) 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 December
 
 
 
 
31, 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.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Option Rent Spread
 
Includes contractual renewal options exercised by tenants in the same location to extend the term of an expiring lease.
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended December 31, 2018
Page 1
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GLOSSARY OF TERMS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Term
 
Definition
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 12/31/18
 
Twelve Months Ended 12/31/18
 
 
 
 
 
 
 
Total properties in Brixmor Property Group portfolio
 
425
 
425
 
 
 
 
 
 
 
 
Acquired properties excluded from same property NOI
 
(3)
 
(4)
 
 
 
 
 
 
 
 
Additional exclusions
 
(2)
 
(4)
 
 
 
 
 
 
 
 
Same property NOI pool
 
420
 
417
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 performance measures it presents are useful to investors for the following reasons:
 
 
  • 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.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  • NAREIT FFO
 
NAREIT FFO assists investors in analyzing and comparing the operating and financial performance of a company’s real estate between periods.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  • 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 December 31, 2018
Page 2
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RESULTS OVERVIEW & GUIDANCE
 
 
 
 
Unaudited, dollars in thousands, except per share and per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Twelve Months Ended
 
 
 
Summary Financial Results
 
12/31/18
 
12/31/17
 
12/31/18
 
12/31/17
 
 
 
 
Total revenues (page 6)
 
$ 297,655

 
$ 320,060
 
$ 1,234,340
 
$ 1,283,180
 
 
 
 
Net income attributable to common stockholders (page 6)
 
77,554

 
69,896
 
366,284
 
300,254
 
 
 
 
Net income attributable to common stockholders - per diluted share (page 6)
 
0.26

 
0.23
 
1.21
 
0.98
 
 
 
 
Adjusted EBITDA (page 7)
 
196,777

 
217,020
 
827,391
 
876,934
 
 
 
 
Cash Adjusted EBITDA (page 7)
 
188,289

 
207,074
 
788,857
 
831,159
 
 
 
 
NAREIT FFO (page 8)
 
120,769

 
157,705
 
558,273
 
638,381
 
 
 
 
NAREIT FFO per share/OP Unit - diluted (page 8)
 
0.40

 
0.52
 
1.85
 
2.09
 
 
 
 
 
Items that impact FFO comparability, net per share (page 8)
 
(0.08)

 
(0.01)
 
(0.16)
 
(0.02)
 
 
 
 
Dividends declared per share/OP Unit (page 8)
 
0.280

 
0.275
 
1.105
 
1.055
 
 
 
 
Share/OP Unit dividend payout ratio (as % of NAREIT FFO) (page 8)
 
69.2
 %
 
53.1
 
59.6
 
50.4
 
 
 
 
NOI (page 10)
 
207,339

 
229,121
 
868,434
 
910,044
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Summary Operating and Financial Ratios
 
12/31/18
 
9/30/18
 
6/30/18
 
3/31/18
 
12/31/17
 
 
NOI margin (page 10)
 
72.0
 %
 
73.1
 
73.6
 
72.7
 
74.1
 
 
Same property NOI growth (page 11) (1)
 
(0.2
)%
 
1.2
 
1.4
 
0.7
 
3.6
 
 
Fixed charge coverage (page 13)
 
3.9x

 
3.5x
 
3.6x
 
3.5x
 
3.6x
 
 
Net principal debt to Adjusted EBITDA (page 13) (2)
 
6.2x

 
6.2x
 
6.4x
 
6.6x
 
6.4x
 
 
Net principal debt to Cash Adjusted EBITDA (page 13) (2)
 
6.5x

 
6.5x
 
6.7x
 
6.8x
 
6.8x
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding Classes of Stock
 
As of 12/31/18
 
As of 9/30/18
 
As of 6/30/18
 
As of 3/31/18
 
As of 12/31/17
 
 
Common shares outstanding (page 13)
 
298,489

 
299,892
 
302,627
 
302,826
 
304,620
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Summary Portfolio Statistics (3)
 
As of 12/31/18
 
As of 9/30/18
 
As of 6/30/18
 
As of 3/31/18
 
As of 12/31/17
 
 
Number of properties (page 30)
 
425

 
445
 
471
 
480
 
486
 
 
Percent billed (page 30)
 
88.4
 %
 
89.4
 
89.4
 
89.8
 
90.3
 
 
Percent leased (page 30)
 
91.9
 %
 
92.5
 
92.5
 
92.1
 
92.2
 
 
ABR PSF (page 30)
 
$ 14.10

 
$ 13.89
 
$ 13.73
 
$ 13.61
 
$ 13.47
 
 
New lease rent spread (page 32)
 
31.5
 %
 
39.7
 
28.7
 
36.7
 
42.7
 
 
New & renewal lease rent spread (page 32)
 
11.2
 %
 
13.4
 
14.3
 
16.7
 
16.0
 
 
Total - new, renewal & option lease rent spread (page 32)
 
9.5
 %
 
12.1
 
11.2
 
14.5
 
13.9
 
 
Total - new, renewal & option GLA (page 32)
 
3,093,665

 
3,135,370
 
3,396,474
 
2,745,080
 
2,918,966
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2019 Guidance
 
 
 
 
 
 
 
 
 
 
 
 
NAREIT FFO per diluted share (4)(5)
 
$1.86 - $1.94

 
 
 
 
 
 
 
 
 
 
Same property NOI growth
 
2.75% - 3.25%

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(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 one-time items, including, but not limited to, litigation and other non-routine legal expenses.
(5) Includes prospective capital recycling.



Supplemental Disclosure - Three Months Ended December 31, 2018
Page 3
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FINANCIAL SUMMARY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure
Three Months Ended December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





CONSOLIDATED BALANCE SHEETS
 
 
 
 
Unaudited, dollars in thousands, except share information
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of
 
As of
 
 
 
 
 
 
12/31/18
 
12/31/17
 
Assets
 
 
 
 
 
 
Real estate
 
 
 
 
 
 
 
Land
 
$
1,804,504

 
$
1,984,309

 
 
 
Buildings and tenant improvements
 
7,535,985

 
8,063,871

 
 
 
Construction in progress
 
90,378

 
81,214

 
 
 
Lease intangibles
 
667,910

 
792,097

 
 
 
 
 
 
10,098,777

 
10,921,491

 
 
 
Accumulated depreciation and amortization
 
(2,349,127
)
 
(2,361,070
)
 
 
Real estate, net
 
7,749,650

 
8,560,421

 
 
Cash and cash equivalents
 
41,745

 
56,938

 
 
Restricted cash
 
9,020

 
53,839

 
 
Marketable securities
 
30,243

 
28,006

 
 
Receivables, net of allowance for doubtful accounts of $21,724 and $17,205
 
228,297

 
232,111

 
 
Deferred charges and prepaid expenses, net
 
145,662

 
147,508

 
 
Real estate assets held for sale
 
2,901

 
27,081

 
 
Other assets
 
34,903

 
48,022

 
Total assets
 
$
8,242,421

 
$
9,153,926

 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
Debt obligations, net
 
$
4,885,863

 
$
5,676,238

 
 
Accounts payable, accrued expenses and other liabilities
 
520,459

 
569,340

 
Total liabilities
 
5,406,322

 
6,245,578

 
 
 
 
 
 
 
 
 
 
Equity
 
 
 
 
 
 
Common stock, $0.01 par value; authorized 3,000,000,000 shares;
 
 
 
 
 
 
 
305,130,472 and 304,947,144 shares issued and 298,488,516 and 304,620,186
 
 
 
 
 
 
 
shares outstanding
 
2,985

 
3,046

 
 
Additional paid-in capital
 
3,233,329

 
3,330,466

 
 
Accumulated other comprehensive income
 
15,973

 
24,211

 
 
Distributions in excess of net income
 
(416,188
)
 
(449,375
)
 
Total equity
 
2,836,099

 
2,908,348

 
Total liabilities and equity
 
$
8,242,421

 
$
9,153,926





Supplemental Disclosure - Three Months Ended December 31, 2018
Page 5
jpgstandardlogoa21.jpg




CONSOLIDATED STATEMENTS OF OPERATIONS
Unaudited, dollars in thousands, except per share amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Twelve Months Ended
 
 
 
 
 
12/31/18
 
12/31/17
 
12/31/18
 
12/31/17
 
Revenues
 
 
 
 
 
 
 
 
 
Rental income
$
229,541

 
$
247,113

 
$
956,090

 
$
997,089

 
 
Expense reimbursements
67,082

 
71,918

 
271,671

 
278,636

 
 
Other revenues
1,032

 
1,029

 
6,579

 
7,455

 
Total revenues
297,655

 
320,060

 
1,234,340

 
1,283,180

 
 
 
 
 
 
 
 
 
 
 
 
 
Operating expenses
 
 
 
 
 
 
 
 
 
Operating costs
34,877

 
35,137

 
136,217

 
136,092

 
 
Real estate taxes
42,018

 
43,490

 
177,401

 
179,097

 
 
Depreciation and amortization
85,345

 
89,988

 
352,245

 
375,028

 
 
Provision for doubtful accounts
3,624

 
1,300

 
10,082

 
5,323

 
 
Impairment of real estate assets
9,094

 
12,721

 
53,295

 
40,104

 
 
General and administrative
28,641

 
25,204

 
93,596

 
92,247

 
Total operating expenses
203,599

 
207,840

 
822,836

 
827,891

 
 
 
 
 
 
 
 
 
 
 
 
 
Other income (expense)
 
 
 
 
 
 
 
 
 
Dividends and interest
163

 
131

 
519

 
365

 
 
Interest expense
(49,290
)
 
(56,076
)
 
(215,025
)
 
(226,660
)
 
 
Gain on sale of real estate assets
50,125

 
13,927

 
209,168

 
68,847

 
 
Gain (loss) on extinguishment of debt, net
(16,914
)
 
10

 
(37,096
)
 
498

 
 
Other
(586
)
 
(316
)
 
(2,786
)
 
(2,907
)
 
Total other expense
(16,502
)
 
(42,324
)
 
(45,220
)
 
(159,857
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Income before equity in income of unconsolidated joint venture
77,554

 
69,896

 
366,284

 
295,432

 
Equity in income of unconsolidated joint venture
—

 
—

 
—

 
381

 
Gain on disposition of unconsolidated joint venture interest
—

 
—

 
—

 
4,556

 
Net income
77,554

 
69,896

 
366,284

 
300,369

 
Net income attributable to non-controlling interests
—

 
—

 
—

 
(76
)
 
Net income attributable to Brixmor Property Group Inc.
77,554

 
69,896

 
366,284

 
300,293

 
Preferred stock dividends
—

 
—

 
—

 
(39
)
 
Net income attributable to common stockholders
$
77,554

 
$
69,896

 
$
366,284

 
$
300,254

 
 
 
 
 
 
 
 
 
 
 
 
 
Per common share:
 
 
 
 
 
 
 
 
 
Net income attributable to common stockholders:
 
 
 
 
 
 
 
 
 
 
Basic
$
0.26

 
$
0.23

 
$
1.21

 
$
0.98

 
 
 
Diluted
$
0.26

 
$
0.23

 
$
1.21

 
$
0.98

 
 
Weighted average shares:
 
 
 
 
 
 
 
 
 
 
Basic
299,112

 
304,892

 
302,074

 
304,834

 
 
 
Diluted
299,438

 
305,265

 
302,339

 
305,281





Supplemental Disclosure - Three Months Ended December 31, 2018
Page 6
jpgstandardlogoa21.jpg




EBITDA
 
 
 
 
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Twelve Months Ended
 
 
 
12/31/18
 
12/31/17
 
12/31/18
 
12/31/17
 
 
 
 
 
 
 
 
 
 
 
Net income
$
77,554

 
$
69,896

 
$
366,284

 
$
300,369

 
 
Interest expense
49,290

 
56,076

 
215,025

 
226,660

 
 
Federal and state taxes
681

 
(75
)
 
2,641

 
2,434

 
 
Depreciation and amortization - continuing operations
85,345

 
89,988

 
352,245

 
375,028

 
 
Depreciation and amortization - unconsolidated joint venture
—

 
—

 
—

 
56

 
EBITDA
212,870

 
215,885

 
936,195

 
904,547

 
 
Gain on disposition of operating properties
(50,125
)
 
(13,927
)
 
(209,168
)
 
(68,847
)
 
 
Gain on disposition of unconsolidated joint venture interest
—

 
—

 
—

 
(4,556
)
 
 
Impairment of real estate assets
9,094

 
12,721

 
53,295

 
40,104

 
EBITDAre
$
171,839

 
$
214,679

 
$
780,322

 
$
871,248

 
 
 
 
 
 
 
 
 
 
 
EBITDAre
$
171,839

 
$
214,679

 
$
780,322

 
$
871,248

 
 
(Gain) loss on extinguishment of debt, net
16,914

 
(10
)
 
37,096

 
(498
)
 
 
SEC settlement
7,000

 
—

 
7,000

 
—

 
 
Litigation and other non-routine legal expenses
851

 
2,184

 
2,506

 
5,813

 
 
Transaction expenses
173

 
167

 
467

 
371

 
 
Total adjustments
24,938

 
2,341

 
47,069

 
5,686

 
Adjusted EBITDA
$
196,777

 
$
217,020

 
$
827,391

 
$
876,934

 
 
 
 
 
 
 
 
 
 
 
Adjusted EBITDA
$
196,777

 
$
217,020

 
$
827,391

 
$
876,934

 
 
Straight-line rental income, net (1)
(3,456
)
 
(3,965
)
 
(15,352
)
 
(18,449
)
 
 
Amortization of above- and below-market leases and tenant inducements, net (2)
(5,063
)
 
(6,011
)
 
(23,313
)
 
(27,460
)
 
 
Straight-line ground rent expense (3)
31

 
30

 
131

 
134

 
 
Total adjustments
(8,488
)
 
(9,946
)
 
(38,534
)
 
(45,775
)
 
Cash Adjusted EBITDA
$
188,289

 
$
207,074

 
$
788,857

 
$
831,159

 
 
 
 
 
 
 
 
 
 
(1) Includes unconsolidated joint venture Montecito Marketplace straight-line rental expense, net of $2 at pro rata share for the twelve months ended December 31, 2017. 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 $15 at pro rata share for the twelve months
ended December 31, 2017. 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 December 31, 2018
Page 7
jpgstandardlogoa21.jpg




FUNDS FROM OPERATIONS (FFO)
 
 
 
 
Unaudited, dollars in thousands, except per share amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Twelve Months Ended
 
 
 
 
12/31/18
 
12/31/17
 
12/31/18
 
12/31/17
 
 
 
 
 
 
 
 
 
 
 
 
Net income
$
77,554

 
$
69,896

 
$
366,284

 
$
300,369

 
 
Gain on disposition of operating properties
(50,125
)
 
(13,927
)
 
(209,168
)
 
(68,847
)
 
 
Gain on disposition of unconsolidated joint venture interest
—

 
—

 
—

 
(4,556
)
 
 
Depreciation and amortization- real estate related- continuing operations
84,246

 
89,015

 
347,862

 
371,255

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

 
—

 
—

 
56

 
 
Impairment of operating properties
9,094

 
12,721

 
53,295

 
40,104

 
NAREIT FFO
$
120,769

 
$
157,705

 
$
558,273

 
$
638,381

 
 
 
 
 
 
 
 
 
 
 
 
NAREIT FFO per share/OP Unit - diluted
$
0.40

 
$
0.52

 
$
1.85

 
$
2.09

 
Weighted average shares/OP Units outstanding - basic and diluted
299,438

 
305,265

 
302,339

 
305,281

 
 
 
 
 
 
 
 
 
 
 
 
Items that impact FFO comparability
 
 
 
 
 
 
 
 
 
Gain (loss) on extinguishment of debt, net
$
(16,914
)
 
$
10

 
$
(37,096
)
 
$
498

 
 
SEC settlement
(7,000
)
 
—

 
(7,000
)
 
—

 
 
Litigation and other non-routine legal expenses
(851
)
 
(2,184
)
 
(2,506
)
 
(5,813
)
 
 
Transaction expenses
(173
)
 
(167
)
 
(467
)
 
(371
)
 
Total items that impact FFO comparability
$
(24,938
)
 
$
(2,341
)
 
$
(47,069
)
 
$
(5,686
)
 
Items that impact FFO comparability, net per share
$
(0.08
)
 
$
(0.01
)
 
$
(0.16
)
 
$
(0.02
)
 
 
 
 
 
 
 
 
 
 
 
 
Additional Disclosures
 
 
 
 
 
 
 
 
 
Straight-line rental income, net (1)
$
3,456

 
$
3,965

 
$
15,352

 
$
18,449

 
 
Amortization of above- and below-market leases and tenant inducements, net (2)
5,063

 
6,011

 
23,313

 
27,460

 
 
Straight-line ground rent expense (3)
(31
)
 
(30
)
 
(131
)
 
(134
)
 
 
 
 
 
 
 
 
 
 
 
 
Dividends declared per share/OP Unit
$
0.280

 
$
0.275

 
$
1.105

 
$
1.055

 
Share/OP Unit dividends declared
$
83,577

 
$
83,771

 
$
332,547

 
$
321,610

 
Share/OP Unit dividend payout ratio (as % of NAREIT FFO)
69.2
%
 
53.1
%
 
59.6
%
 
50.4
%
 
 
 
 
 
 
 
 
 
 
 
(1) Includes unconsolidated joint venture Montecito Marketplace straight-line rental expense, net of $2 at pro rata share for the twelve months ended December 31, 2017. 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 $15 at pro rata share for the twelve months
ended December 31, 2017. 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 December 31, 2018
Page 8
jpgstandardlogoa21.jpg




SUPPLEMENTAL BALANCE SHEET DETAIL
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of
 
As of
 
 
 
 
12/31/18
 
12/31/17
 
 
 
 
 
 
 
 
Receivables, net
 
 
 
 
 
Straight-line rent receivable
$
128,154

 
$
118,972

 
 
Tenant receivables
96,047

 
95,447

 
 
Allowance for doubtful accounts
(21,724
)
 
(17,205
)
 
 
Insurance receivable (1)
19,461

 
28,000

 
 
Other
6,359

 
6,897

 
 
Total receivables, net
$
228,297

 
$
232,111

 
 
 
 
 
 
 
 
Deferred charges and prepaid expenses, net
 
 
 
 
 
Deferred charges, net
$
126,082

 
$
127,778

 
 
Prepaid expenses, net
19,580

 
19,730

 
 
Total deferred charges and prepaid expenses, net
$
145,662

 
$
147,508

 
 
 
 
 
 
 
 
Other assets
 
 
 
 
 
Interest rate swaps
$
18,630

 
$
24,420

 
 
Furniture, fixtures and leasehold improvements, net
13,771

 
18,341

 
 
Other
2,502

 
5,261

 
 
Total other assets
$
34,903

 
$
48,022

 
 
 
 
 
 
 
 
Accounts payable, accrued expenses and other liabilities
 
 
 
 
 
Accounts payable and other accrued expenses
$
234,651

 
$
229,517

 
 
Below market leases, net
126,874

 
181,806

 
 
Dividends payable
85,284

 
85,597

 
 
Accrued litigation (1)
19,461

 
28,000

 
 
Accrued SEC settlement (2)
7,000

 
—

 
 
Interest rate swaps
2,571

 
—

 
 
Other
44,618

 
44,420

 
 
Total accounts payable, accrued expenses and other liabilities
$
520,459

 
$
569,340

 
 
 
 
 
 
 
(1) In May 2017, the Company entered into a settlement agreement with respect to a class action lawsuit filed in March 2016.  The agreed upon settlement amount is within the
coverage amount of the Company’s applicable insurance policies. For additional information, refer to Form 10-K, filed with the Securities and Exchange Commission (“SEC”) on
February 11, 2019.
(2) The Company and the Staff of the SEC Enforcement Division have been discussing a possible negotiated resolution with respect to the SEC investigation. Agreement has been
reached on the material terms of such a resolution, which are still subject to finalizing the necessary documents and obtaining approval by the SEC, which cannot be assured. The
agreement, among other things, requires the payment of a civil penalty of $7.0 million, which the Company has accrued as a contingent liability for the quarter ended December
31, 2018. For additional information, refer to Form 10-K, filed with the Securities and Exchange Commission on February 11, 2019.


Supplemental Disclosure - Three Months Ended December 31, 2018
Page 9
jpgstandardlogoa21.jpg




NOI & SUPPLEMENTAL STATEMENT OF OPERATIONS DETAIL
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Twelve Months Ended
 
 
 
 
12/31/18
 
12/31/17
 
12/31/18
 
12/31/17
 
Net Operating Income Detail (1)
 
 
 
 
 
 
 
 
 
Base rent
$
215,273

 
$
231,536

 
$
896,225

 
$
928,210

 
 
Ancillary and other
4,440

 
4,535

 
17,528

 
16,441

 
 
Expense reimbursements
67,082

 
71,918

 
271,671

 
278,636

 
 
Percentage rents
1,032

 
1,029

 
6,579

 
7,135

 
 
Operating costs
(34,846
)
 
(35,107
)
 
(136,086
)
 
(135,958
)
 
 
Real estate taxes
(42,018
)
 
(43,490
)
 
(177,401
)
 
(179,097
)
 
 
Provision for doubtful accounts
(3,624
)
 
(1,300
)
 
(10,082
)
 
(5,323
)
 
Net operating income
$
207,339

 
$
229,121

 
$
868,434

 
$
910,044

 
 
 
 
 
 
 
 
 
 
 
 
Operating Ratios
 
 
 
 
 
 
 
 
 
NOI margin (NOI / revenues)
72.0
%
 
74.1
%
 
72.9
%
 
74.0
%
 
 
Expense recovery ratio (expense reimbursements / (operating costs + real estate taxes))
87.3
%
 
91.5
%
 
86.7
%
 
88.4
%
 
 
 
 
 
 
 
 
 
 
 
 
Reconciliation of Net Operating Income to Net Income Attributable to Common Stockholders
 
 
 
 
 
 
 
 
Net operating income
$
207,339

 
$
229,121

 
$
868,434

 
$
910,044

 
 
Lease termination fees
1,309

 
1,066

 
3,672

 
6,542

 
 
Straight-line rental income, net
3,456

 
3,965

 
15,352

 
18,451

 
 
Amortization of above- and below-market leases and tenant inducements, net
5,063

 
6,011

 
23,313

 
27,445

 
 
Fee income
—

 
—

 
—

 
320

 
 
Straight-line ground rent expense (2)
(31
)
 
(30
)
 
(131
)
 
(134
)
 
 
Depreciation and amortization
(85,345
)
 
(89,988
)
 
(352,245
)
 
(375,028
)
 
 
Impairment of real estate assets
(9,094
)
 
(12,721
)
 
(53,295
)
 
(40,104
)
 
 
General and administrative
(28,641
)
 
(25,204
)
 
(93,596
)
 
(92,247
)
 
 
Total other expense
(16,502
)
 
(42,324
)
 
(45,220
)
 
(159,857
)
 
 
Equity in income of unconsolidated joint venture
—

 
—

 
—

 
381

 
 
Gain on disposition of unconsolidated joint venture interest
—

 
—

 
—

 
4,556

 
 
Net income attributable to non-controlling interests
—

 
—

 
—

 
(76
)
 
 
Preferred stock dividends
—

 
—

 
—

 
(39
)
 
Net income attributable to common stockholders
$
77,554

 
$
69,896

 
$
366,284

 
$
300,254

 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Statement of Operations Detail
 
 
 
 
 
 
 
 
Rental income
 
 
 
 
 
 
 
 
 
Base rent
$
215,273

 
$
231,536

 
$
896,225

 
$
928,210

 
 
Lease termination fees
1,309

 
1,066

 
3,672

 
6,542

 
 
Straight-line rental income, net
3,456

 
3,965

 
15,352

 
18,451

 
 
Amortization of above- and below-market leases and tenant inducements, net
5,063

 
6,011

 
23,313

 
27,445

 
 
Ancillary and other
4,440

 
4,535

 
17,528

 
16,441

 
 
Total rental income
$
229,541

 
$
247,113

 
$
956,090

 
$
997,089

 
 
 
 
 
 
 
 
 
 
 
 
Other revenues
 
 
 
 
 
 
 
 
 
Percentage rents
$
1,032

 
$
1,029

 
$
6,579

 
$
7,135

 
 
Fee income
—

 
—

 
—

 
320

 
 
Total other revenues
$
1,032

 
$
1,029

 
$
6,579

 
$
7,455

 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
 
 
 
 
 
 
 
 
 
Mortgage, note and other interest
$
37,321

 
$
44,879

 
$
171,770

 
$
181,367

 
 
Unsecured credit facility and term loan interest
10,725

 
11,138

 
41,704

 
46,590

 
 
Capitalized interest
(680
)
 
(677
)
 
(2,478
)
 
(2,945
)
 
 
Deferred financing cost amortization
1,692

 
1,688

 
6,601

 
6,971

 
 
Debt premium/discount amortization, net
232

 
(952
)
 
(2,572
)
 
(5,323
)
 
 
Total interest expense
$
49,290

 
$
56,076

 
$
215,025

 
$
226,660

 
 
 
 
 
 
 
 
 
 
 
 
Other
 
 
 
 
 
 
 
 
 
Federal and state taxes
$
681

 
$
(75
)
 
$
2,641

 
$
2,434

 
 
Other
(95
)
 
391

 
145

 
473

 
 
Total other
$
586

 
$
316

 
$
2,786

 
$
2,907

 
 
 
 
 
 
 
 
 
 
 
 
Additional G&A Disclosures
 
 
 
 
 
 
 
 
Capitalized direct construction compensation costs
$
2,906

 
$
2,342

 
$
10,560

 
$
8,142

 
Capitalized direct leasing legal costs
1,321

 
546

 
3,851

 
1,852

 
 
 
 
 
 
 
 
 
 
 
Capitalized direct leasing payroll costs
$
1,858

 
$
2,034

 
$
8,016

 
$
8,113

 
Capitalized direct leasing commission costs
1,686

 
1,519

 
7,100

 
6,060

 
 
Total capitalized direct leasing compensation costs
$
3,544

 
$
3,553

 
$
15,116

 
$
14,173

 
 
 
 
 
 
 
 
 
 
 
Equity based compensation
$
1,372

 
$
2,639

 
$
9,378

 
$
10,477

 
 
 
 
 
 
 
 
 
 
(1) NOI excludes unconsolidated joint venture Montecito Marketplace NOI of $461 at pro rata share for the twelve months ended December 31, 2017. 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 December 31, 2018
Page 10
jpgstandardlogoa21.jpg




SAME PROPERTY NOI ANALYSIS
 
 
 
 
 
 
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
 
 
Twelve Months Ended
 
 
 
 
 
 
 
12/31/18
 
12/31/17
 
Change
 
12/31/18
 
12/31/17
 
Change
 
Same Property NOI Analysis
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of properties
 
420

 
420

 
—
 
417

 
417

 
—
 
Percent billed
 
88.4
%
 
89.9
%
 
(1.5%)
 
88.4
%
 
89.9
%
 
(1.5%)
 
Percent leased
 
91.9
%
 
91.9
%
 
—%
 
91.9
%
 
91.9
%
 
—%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Base rent
 
$
209,513

 
$
205,672

 
 
 
$
822,778

 
$
806,190

 
 
 
 
Ancillary and other
 
4,278

 
4,087

 
 
 
16,145

 
14,371

 
 
 
 
Expense reimbursements
 
65,065

 
64,636

 
 
 
248,541

 
245,158

 
 
 
 
Percentage rents
 
838

 
924

 
 
 
6,014

 
6,609

 
 
 
 
 
 
 
279,694

 
275,319

 
1.6%
 
1,093,478

 
1,072,328

 
2.0%
 
Operating expenses
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating costs
 
(35,336
)
 
(34,035
)
 
 
 
(125,878
)
 
(121,064
)
 
 
 
 
Real estate taxes
 
(40,776
)
 
(39,416
)
 
 
 
(162,455
)
 
(158,844
)
 
 
 
 
Provision for doubtful accounts
 
(3,248
)
 
(1,165
)
 
 
 
(8,608
)
 
(4,503
)
 
 
 
 
 
 
 
(79,360
)
 
(74,616
)
 
6.4%
 
(296,941
)
 
(284,411
)
 
4.4%
 
Same property NOI
 
$
200,334

 
$
200,703

 
(0.2)%
 
$
796,537

 
$
787,917

 
1.1%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NOI margin
 
71.6
%
 
72.9
%
 
 
 
72.8
%
 
73.5
%
 
 
 
Expense recovery ratio
 
85.5
%
 
88.0
%
 
 
 
86.2
%
 
87.6
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent contribution to same property NOI growth:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Change
 
Percent Contribution
 
 
 
Change
 
Percent Contribution
 
 
 
 
Base rent
 
$
3,841

 
1.9%
 
 
 
$
16,588

 
2.1%
 
 
 
 
Ancillary and other
 
191

 
0.1%
 
 
 
1,774

 
0.2%
 
 
 
 
Net recoveries
 
(2,232
)
 
(1.2%)
 
 
 
(5,042
)
 
(0.6%)
 
 
 
 
Percentage rents
 
(86
)
 
(0.0%)
 
 
 
(595
)
 
(0.1%)
 
 
 
 
Provision for doubtful accounts
 
(2,083
)
 
(1.0%)
 
 
 
(4,105
)
 
(0.5%)
 
 
 
 
 
 
 
 
 
(0.2)%
 
 
 
 
 
1.1%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Reconciliation of Net Income Attributable to Common Stockholders to Same Property NOI
 
 
 
 
 
 
 
 
 
Same property NOI
 
$
200,334

 
$
200,703

 
 
 
$
796,537

 
$
787,917

 
 
 
Adjustments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-same property NOI
 
7,005

 
28,418

 
 
 
71,897

 
122,127

 
 
 
 
Lease termination fees
 
1,309

 
1,066

 
 
 
3,672

 
6,542

 
 
 
 
Straight-line rental income, net
 
3,456

 
3,965

 
 
 
15,352

 
18,451

 
 
 
 
Amortization of above- and below-market leases and tenant inducements, net
 
5,063

 
6,011

 
 
 
23,313

 
27,445

 
 
 
 
Fee income
 
—

 
—

 
 
 
—

 
320

 
 
 
 
Straight-line ground rent expense
 
(31
)
 
(30
)
 
 
 
(131
)
 
(134
)
 
 
 
 
Depreciation and amortization
 
(85,345
)
 
(89,988
)
 
 
 
(352,245
)
 
(375,028
)
 
 
 
 
Impairment of real estate assets
 
(9,094
)
 
(12,721
)
 
 
 
(53,295
)
 
(40,104
)
 
 
 
 
General and administrative
 
(28,641
)
 
(25,204
)
 
 
 
(93,596
)
 
(92,247
)
 
 
 
 
Total other expense
 
(16,502
)
 
(42,324
)
 
 
 
(45,220
)
 
(159,857
)
 
 
 
 
Equity in income of unconsolidated joint venture
 
—

 
—

 
 
 
—

 
381

 
 
 
 
Gain on disposition of unconsolidated joint venture interest
 
—

 
—

 
 
 
—

 
4,556

 
 
 
 
Net income attributable to non-controlling interests
 
—

 
—

 
 
 
—

 
(76
)
 
 
 
 
Preferred stock dividends
 
—

 
—

 
 
 
—

 
(39
)
 
 
 
Net income attributable to common stockholders
 
$
77,554

 
$
69,896

 
 
 
$
366,284

 
$
300,254

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


Supplemental Disclosure - Three Months Ended December 31, 2018
Page 11
jpgstandardlogoa21.jpg




CAPITAL EXPENDITURES
 
 
 
 
 
 
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Twelve Months Ended
 
 
 
 
12/31/18
 
12/31/17
 
12/31/18
 
12/31/17
 
Leasing related:
 
 
 
 
 
 
 
 
 
Tenant improvements and tenant inducements
$
14,204

 
$
14,736

 
$
67,030

 
$
71,735

 
 
External leasing commissions
2,349

 
1,994

 
10,122

 
8,374

 
 
 
 
16,553

 
16,730

 
77,152

 
80,109

 
 
 
 
 
 
 
 
 
 
 
 
Value-enhancing:
 
 
 
 
 
 
 
 
 
Anchor space repositionings
20,738

 
18,060

 
59,577

 
36,621

 
 
Outparcel developments
3,186

 
2,739

 
14,009

 
7,034

 
 
Redevelopments
20,614

 
16,129

 
71,673

 
47,171

 
 
New development
870

 
6,406

 
8,756

 
18,555

 
 
Other (1)
11,725

 
5,989

 
14,677

 
6,093

 
 
 
 
57,133

 
49,323

 
168,692

 
115,474

 
 
 
 
 
 
 
 
 
 
 
 
Maintenance capital expenditures
24,570

 
23,381

 
46,512

 
41,272

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
98,256

 
$
89,434

 
$
292,356

 
$
236,855

 
 
 
 
 
 
 
 
 
 
 
(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 December 31, 2018
Page 12
jpgstandardlogoa21.jpg




CAPITALIZATION, LIQUIDITY & DEBT RATIOS
 
Unaudited, dollars and shares in thousands except per share amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of
 
As of
 
 
 
 
 
 
 
 
 
 
12/31/18
 
12/31/17
 
 
Equity Capitalization:
 
 
 
 
 
 
 
 
 
 
Common shares outstanding
 
 
 
 
298,489

 
304,620

 
 
 
Common share price
 
 
 
 
$
14.69

 
$
18.66

 
 
Total equity capitalization
 
 
 
 
$
4,384,803

 
$
5,684,209

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt:
 
 
 
 
 
 
 
 
 
 
 
Revolving credit facility
 
 
 
 
$
306,000

 
$
—

 
 
 
Term loans
 
 
 
 
1,150,000

 
1,585,000

 
 
 
Unsecured notes
 
 
 
 
3,468,453

 
3,218,453

 
 
 
Secured mortgages
 
 
 
 
7,000

 
902,717

 
 
Total principal debt
 
 
 
 
4,931,453

 
5,706,170

 
 
Add/Less: Net unamortized premium (discount)
 
 
(11,300
)
 
1,836

 
 
Less: Deferred financing fees
 
 
 
 
(34,290
)
 
(31,768
)
 
 
Total debt
 
 
 
 
4,885,863

 
5,676,238

 
 
Less: cash, cash equivalents and restricted cash
 
 
(50,765
)
 
(110,777
)
 
 
Net debt
 
 
 
 
$
4,835,098

 
$
5,565,461

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total market capitalization:
 
 
 
 
$
9,219,901

 
$
11,249,670

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liquidity:
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents and restricted cash
 
 
$
50,765

 
$
110,777

 
 
 
Available under revolving credit facility (1)
 
 
938,813

 
1,249,329

 
 
 
 
 
 
 
 
 
 
$
989,578

 
$
1,360,106

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratios:
 
 
 
 
 
 
 
 
 
 
Principal debt to total market capitalization
 
53.5
%
 
50.7
%
 
 
 
Principal debt to total assets, before depreciation

46.6
%
 
49.6
%
 
 
 
Secured principal debt to total assets, before depreciation
 
0.1
%
 
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)
 
4.0x

 
3.9x

 
 
 
Debt service coverage (Adjusted EBITDA / (interest expense + scheduled principal payments)) (2)
3.9x

 
3.6x

 
 
 
Fixed charge coverage (Adjusted EBITDA / (interest expense + scheduled principal payments +
 
 
 
 
 
 
 
preferred dividends)) (2)
 
 
 
 
3.9x

 
3.6x

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of
 
As of
 
 
 
 
 
 
 
 
 
 
12/31/18
 
12/31/17
 
 
 
Percentage of total debt:
 
 
 
 
 
 
 
 
 
 
 
Fixed
 
 
 
 
83.7
%
 
96.8
%
 
 
 
 
Variable (3)
 
 
 
 
16.3
%
 
3.2
%
 
 
 
Unencumbered summary:
 
 
 
 
 
 
 
 
 
 
 
Percent of properties
 
 
 
 
99.8
%
 
75.3
%
 
 
 
 
Percent of ABR
 
 
 
 
99.9
%
 
79.0
%
 
 
 
 
Percent of NOI
 
 
 
 
99.9
%
 
79.5
%
 
 
 
Weighted average maturity (years):
 
 
 
 
 
 
 
 
 
 
 
Fixed
 
 
 
 
5.4

 
5.1

 
 
 
 
Variable
 
 
 
 
4.3

 
6.6

 
 
 
 
Total
 
 
 
 
5.2

 
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.
 
(3) The variable percentage of total debt is 10.3% when taking into account the four forward starting interest rate swap agreements that the Company entered into during the three months
 
ended December 31, 2018.

Supplemental Disclosure - Three Months Ended December 31, 2018
Page 13
jpgstandardlogoa21.jpg




DEBT OVERVIEW
 
 
 
 
 
 
 
 
 
 
 
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Maturity Schedule - Debt obligations (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Scheduled Maturities

 
Weighted Avg Stated Interest Rate

 
 
 
 
 
 
 
 
 
2019
 
 
 
$
—

 
—

 
 
 
 
 
 
 
 
 
2020
 
 
 
—

 
—

 
 
 
 
 
 
 
 
 
2021
 
 
 
500,000

 
2.36
%
 
 
 
 
 
 
 
 
 
2022
 
 
 
750,000

 
3.78
%
 
 
 
 
 
 
 
 
 
2023
 
 
 
1,156,000

 
2.99
%
 
 
 
 
 
 
 
 
 
2024
 
 
 
807,000

 
3.79
%
 
 
 
 
 
 
 
 
 
2025
 
 
 
700,000

 
3.85
%
 
 
 
 
 
 
 
 
 
2026
 
 
 
607,542

 
4.17
%
 
 
 
 
 
 
 
 
 
2027
 
 
 
400,000

 
3.90
%
 
 
 
 
 
 
 
 
 
2028
 
 
 
7,708

 
6.90
%
 
 
 
 
 
 
 
 
 
2029+
 
 
 
3,203

 
7.50
%
 
 
 
 
 
 
 
 
 
Total Debt Maturities
 
$
4,931,453

 
3.53
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unamortized discount
 
(11,300
)
 
 
 
 
 
 
 
 
 
 
 
Deferred financing costs
 
(34,290
)
 
 
 
 
 
 
 
 
 
 
 
Debt obligations, net
 
$
4,885,863

 

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

 
Weighted Avg Stated Interest Rate

 
Scheduled Maturities

 
Weighted Avg Stated Interest Rate

 
Scheduled Maturities

 
Weighted Avg Stated Interest Rate

 
 
 
2019
 
$
—

 
—

 
$
—

 
—

 
$
—

 
—

 
 
 
2020
 
—

 
—

 
—

 
—

 
—

 
—

 
 
 
2021
 
—

 
—

 
—

 
—

 
500,000

 
2.36
%
 
 
 
2022
 
—

 
—

 
750,000

 
3.78
%
 
—

 
—

 
 
 
2023
 
—

 
—

 
500,000

 
3.25
%
 
656,000

 
2.78
%
 
 
 
2024
 
7,000

 
4.40
%
 
500,000

 
3.65
%
 
300,000

 
4.00
%
 
 
 
2025
 
—

 
—

 
700,000

 
3.85
%
 
—

 
—

 
 
 
2026
 
—

 
—

 
607,542

 
4.17
%
 
—

 
—

 
 
 
2027
 
—

 
—

 
400,000

 
3.90
%
 
—

 
—

 
 
 
2028
 
—

 
—

 
7,708

 
6.90
%
 
—

 
—

 
 
 
2029+
 
—

 
—

 
3,203

 
7.50
%
 
—

 
—

 
 
 
Total Debt Maturities
$
7,000

 
4.40
%
 
$
3,468,453

 
3.79
%
 
$
1,456,000

 
2.89
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) No scheduled amortization prior to maturity dates.

Supplemental Disclosure - Three Months Ended December 31, 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
 
 
 
 
 
 
 
 
 
 
 
 
Larchmont Centre
 
 
$
7,000

 
4.40
 
3/1/24
 
0.14
 
 
 
TOTAL FIXED RATE SECURED MORTGAGES
 
 
7,000

 
4.40
 
 
 
0.14
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured fixed rate debt
 
 
 
 
 
 
 
 
 
 
 
 
Term Loan Facility - $500,000 (1)
 
 
500,000

 
2.36
 
7/31/21
 
10.14
 
 
 
Term Loan Facility - $350,000 (2)
 
 
350,000

 
2.13
 
12/12/23
 
7.10
 
 
 
Term Loan Facility - $300,000 (3)(4)
 
 
50,000

 
2.78
 
7/26/24
 
1.01
 
 
 
TOTAL UNSECURED FIXED RATE DEBT
 
 
900,000

 
2.29
 
 
 
18.25
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured Notes
 
 
 
 
 
 
 
 
 
 
 
 
3.88%, 2022 Brixmor OP Notes
 
 
500,000

 
3.88
 
8/15/22
 
10.14
 
 
 
3.25%, 2023 Brixmor OP Notes
 
 
500,000

 
3.25
 
9/15/23
 
10.14
 
 
 
3.65%, 2024 Brixmor OP Notes
 
 
500,000

 
3.65
 
6/15/24
 
10.14
 
 
 
3.85%, 2025 Brixmor OP Notes
 
 
700,000

 
3.85
 
2/1/25
 
14.19
 
 
 
4.13%, 2026 Brixmor OP Notes
 
 
600,000

 
4.13
 
6/15/26
 
12.17
 
 
 
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
 
8.11
 
 
 
6.90%, 2028 Brixmor LLC Notes I
 
 
2,222

 
6.90
 
2/15/28
 
0.05
 
 
 
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
 
 
 
65.26
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL FIXED RATE DEBT
 
 
$
4,125,453

 
3.48
 
 
 
83.65
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
VARIABLE RATE DEBT: (5)
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured variable rate debt
 
 
 
 
 
 
 
 
 
 
 
 
2022 Brixmor OP Notes (LIBOR + 105 bps)
 
 
$
250,000

 
3.59
 
2/1/22
 
5.07
 
 
 
Revolving Credit Facility (LIBOR + 110bps)
 
 
306,000

 
3.53
 
2/28/23
 
6.21
 
 
 
Term Loan Facility - $300,000 (LIBOR + 190 bps) (4)
 
250,000

 
4.25
 
7/26/24
 
5.07
 
 
 
TOTAL UNSECURED VARIABLE RATE DEBT
 
 
806,000

 
3.77
 
 
 
16.35
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL VARIABLE RATE DEBT
 
 
$
806,000

 
3.77
 
 
 
16.35
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL DEBT OBLIGATIONS
 
 
$
4,931,453

 
3.53
 
 
 
100.00
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unamortized discount
 
(11,300
)
 
 
 
 
 
 
 
 
 
 
Deferred financing costs
 
(34,290
)
 
 
 
 
 
 
 
 
 
 
DEBT OBLIGATIONS, NET
 
$
4,885,863

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Effective November 1, 2016, the Term Loan Facility - $500,000 is swapped from one-month LIBOR to a fixed rate of 1.113% (plus a spread of 125 basis points) through July 30, 2021.
 
(2) Effective November 1, 2016, the Term Loan Facility - $350,000 is swapped from one-month LIBOR to a fixed rate of 0.878% (plus a spread of 125 basis points) through March 18, 2019.
 
(3) Effective July 28, 2017, $50,000 of the Term Loan Facility - $300,000 is swapped from one-month LIBOR to a fixed rate of 0.878% (plus a spread of 190 basis points) through March 18, 2019.
 
(4) The spread on the Term Loan Facility - $300,000 will be decreased from 190 basis points to 125 basis points effective July 28, 2019.
 
(5) During the three months ended December 31, 2018, the Company entered into four forward starting interest rate swap agreements with an effective date of January 2, 2019 to swap
 
$300,000 from one-month Libor to a fixed, combined rate of 2.611% through July 26, 2024.
 

Supplemental Disclosure - Three Months Ended December 31, 2018
Page 15
jpgstandardlogoa21.jpg




COVENANT DISCLOSURE
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured OP Notes Covenant Disclosure
 
 
 
 
 
 
 
 
 
 
 
Covenants
 
12/31/18
 
 
 
 
 
 
 
 
 
 
 
 
 
 I. Aggregate debt test
 
 < 65%
 
47.1
%
 
 
 
Total Debt
 
 
 
4,885,863

 
 
 
Total Assets
 
 
 
10,363,248

 
 
 
 
 
 
 
 
 
 
 
 
 
II. Secured debt test
 
< 40%
 
0.1
%
 
 
 
Total Secured Debt
 
 
 
7,217

 
 
 
Total Assets
 
 
 
10,363,248

 
 
 
 
 
 
 
 
 
 
 
 
 
III. Unencumbered asset ratio
 
 > 150%
 
212.0
%
 
 
 
Total Unencumbered Assets
 
 
 
10,343,932

 
 
 
Unsecured Debt
 
 
 
4,878,646

 
 
 
 
 
 
 
 
 
 
 
 
 
IV. Debt service test
 
 > 1.5x
 
4.4x

 
 
 
Consolidated EBITDA
 
 
 
805,748

 
 
 
Annual Debt Service Charge
 
 
 
183,446

 
 
 
 
 
 
 
 
 
 
 
 
 
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
 
12/31/18
 
 
 
 
 
 
 
 
 
 
 
 
 
 I. Leverage ratio
 
 < 60%
 
38.2
%
 
 
 
Total Outstanding Indebtedness
 
 
 
4,931,453

 
 
 
Balance Sheet Cash
 
 
 
65,092

 
 
 
Total Asset Value
 
 
 
12,729,899

 
 
 
 
 
 
 
 
 
 
 
 
 
II. Secured leverage ratio (1)
 
< 40%
 
N/A

 
 
 
Total Secured Indebtedness
 
 
 
7,000

 
 
 
Balance Sheet Cash
 
 
65,092

 
 
 
Total Asset Value
 
 
 
12,729,899

 
 
 
 
 
 
 
 
 
 
 
 
 
III. Unsecured leverage ratio
 
 < 60%
 
38.3
%
 
 
 
Total Unsecured Indebtedness
 
 
 
4,924,453

 
 
 
Unrestricted Cash
 
 
 
56,071

 
 
 
Unencumbered Asset Value
 
 
12,713,454

 
 
 
 
 
 
 
 
 
 
 
 
 
IV. Fixed charge coverage ratio
 
 > 1.5x
 
4.6x

 
 
 
Total Net Operating Income
 
 
 
827,255

 
 
 
Capital Expenditure Reserve
 
 
 
11,051

 
 
 
Fixed Charges
 
 
 
177,011

 
 
 
 
 
 
 
 
 
 
 
 
 
(1) The secured leverage ratio is (0.5%) due to the impact of Balance Sheet Cash.
 
 
 
 
 
 
 
 
 
 
 
 
 
For detailed descriptions of the unsecured credit facility covenant calculations and definitions of capitalized terms please refer to the Second Amended and
 
 
Restated Revolving Credit and Term Loan Agreement, dated as of December 12, 2018 filed as Exhibit 10.26 to Form 10-K, filed with the Securities and Exchange
 
 
Commission on February 11, 2019.


Supplemental Disclosure - Three Months Ended December 31, 2018
Page 16
jpgstandardlogoa21.jpg




 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
INVESTMENT SUMMARY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure
Three Months Ended December 31, 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

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended December 31, 2018 (2)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outparcel building adjacent to Roosevelt Mall
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
10/10/18
 
$
2,200

 
975

 
-
 
-
 
-
 
 
 
Land adjacent to Arborland Center
 
Ann Arbor, MI
 
10/16/18
 
385

 
3.5 acres

 
-
 
-
 
-
 
 
 
Outparcel building adjacent to Wynnewood Village
 
Dallas-Fort Worth-Arlington, TX
 
12/18/18
 
2,500

 
6,000

 
-
 
-
 
-
 
 
 
 
 
 
 
 
 
$
5,085

 
6,975 / 3.5 acres

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL - TWELVE MONTHS ENDED DECEMBER 31, 2018
$
12,060

 
10,685

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
/ 52.0 acres

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) In addition, on June 11, 2018, Brixmor paid $1,850 to terminate the ground lease and acquire the Rite Aid building at Lehigh Shopping Center in Bethlehem, PA.
 
 
(2) In addition, on December 19, 2018, Brixmor paid $3,100 to terminate the ground lease and acquire the Kroger building at Wendover Place in Greensboro, NC.
 
 




Supplemental Disclosure - Three Months Ended December 31, 2018
Page 18
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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
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 December 31, 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

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Clovis Commons
 
Fresno, CA
 
10/10/18
 
$
45,000

 
180,955

 
95.0
%
 
$
22.61

 
Best Buy, Office Depot, PetSmart, T.J.Maxx
 
Sterling Bazaar
 
Peoria, IL
 
10/15/18
 
4,935

 
87,359

 
83.6
%
 
9.53

 
Kroger
 
Sangamon Center North
 
Springfield, IL
 
10/15/18
 
11,550

 
139,757

 
94.9
%
 
10.13

 
Schnucks, U.S. Post Office
 
Klein Square
 
Houston-The Woodlands-Sugar Land, TX
 
10/16/18
 
7,000

 
80,636

 
93.8
%
 
9.79

 
Food Town, Family Dollar, Petco
 
Plantation Plaza
 
Houston-The Woodlands-Sugar Land, TX
 
10/16/18
 
3,600

 
99,141

 
46.3
%
 
10.99

 
Dollar Tree, Walgreens
 
HEB at Northshore Plaza (5)
 
Corpus Christi, TX
 
10/24/18
 
4,650

 
74,627

 
100.0
%
 
-

 
H-E-B
 
Bittersweet Plaza
 
South Bend-Mishawake, IN-MI
 
11/7/18
 
7,850

 
92,295

 
91.3
%
 
8.97

 
Martin's Super Market
 
Market Place
 
Dayton, OH
 
11/13/18
 
5,750

 
182,487

 
89.6
%
 
7.65

 
Kroger, Roses

Supplemental Disclosure - Three Months Ended December 31, 2018
Page 20
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
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shops at Northshore Plaza (5)
 
Corpus Christi, TX
 
11/15/18
 
8,150

 
77,517

 
94.8
%
 
10.90

 
Bealls (Stage Stores)
 
Mist Lake Plaza
 
Lexington-Fayette, KY
 
11/16/18
 
15,500

 
217,292

 
40.4
%
 
8.71

 
Gabriel Brothers
 
Wadsworth Crossings
 
Cleveland-Elyria, OH
 
11/16/18
 
16,000

 
118,145

 
71.8
%
 
18.74

 
OfficeMax, Petco, Planet Fitness
 
Woodbourne Square
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
11/30/18
 
6,850

 
29,821

 
88.3
%
 
21.54

 
-
 
Five Points
 
Corpus Christi, TX
 
12/7/18
 
32,650

 
277,046

 
91.2
%
 
12.83

 
Bealls (Stage Stores), Burkes Outlet, Harbor Freight Tools, Hobby Lobby, Party City, Ross Dress for Less
 
Northwood Plaza
 
Houston-The Woodlands-Sugar Land, TX
 
12/10/18
 
18,000

 
136,747

 
100.0
%
 
12.22

 
Food City
 
Land adjacent to Moundsville Plaza
 
Moundsville, WV
 
12/11/18
 
1,075

 
 10.5 acres

 
-

 
-

 
-
 
San Bernardino Center
 
Riverside-San Bernardino-Ontario, CA
 
12/12/18
 
14,000

 
143,082

 
100.0
%
 
8.05

 
Big Lots, Target
 
Southgate Center
 
Tampa-St. Petersburg-Clearwater, FL
 
12/14/18
 
28,000

 
248,501

 
98.6
%
 
11.19

 
Publix, Bealls Outlet, Big Lots, Lumber Liquidators, Old Time Pottery, Pet Supermarket
 
Kline Plaza
 
Harrisburg-Carlisle, PA
 
12/20/18
 
8,700

 
214,628

 
85.6
%
 
9.61

 
Giant Food (Ahold), Citi Trends
 
Bethlehem Square
 
Allentown-Bethlehem-Easton, PA-NJ
 
12/21/18
 
41,313

 
389,450

 
96.9
%
 
14.85

 
Giant Food (Ahold), T.J.Maxx, The Home Depot, Walmart
 
Elkhart Plaza West
 
Elkhart-Goshen, IN
 
12/28/18
 
4,305

 
81,651

 
91.0
%
 
31.03

 
Martin's Super Market, CVS
 
Farrar Place
 
Tullahoma-Manchester, TN
 
12/28/18
 
4,200

 
43,220

 
100.0
%
 
8.98

 
Food Lion (Delhaize)
 
Valley Commons
 
Roanoke, VA
 
12/28/18
 
1,155

 
45,580

 
23.0
%
 
10.19

 
-
 
 
 
 
 
 
 
$
290,233

 
2,959,937 / 10.5 acres

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL - TWELVE MONTHS ENDED DECEMBER 31, 2018
 
$
989,492

 
9,327,072 / 10.5 acres

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(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.
(5) Partial sale of property occurred on 10/24/18. Remaining portion sold on 11/15/18. Data presented reflects only portion of property sold in each respective transaction.
Major tenants includes only owned tenants.




Supplemental Disclosure - Three Months Ended December 31, 2018
Page 21
jpgstandardlogoa21.jpg




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 December 31, 2018
 
 
 
 
 
1

Clearwater Mall
 
Tampa-St. Petersburg-Clearwater, FL
 
 
Remerchandise former hhgregg with a 35K SF Burlington
 
 
2

Westridge Court
 
Chicago-Naperville-Elgin, IL-IN-WI
 
 
Remerchandise former Shoe Carnival and adjacent small shop space with an 18K SF Cost Plus World Market and remerchandise former 2nd and Charles space with a 29K SF junior anchor
 
 
3

London Marketplace
 
London, KY
 
 
Remerchandise former Kmart with a 36K SF Kohl's and additional junior anchors
 
 
4

Arborland Center
 
Ann Arbor, MI
 
 
Remerchandise former Toys"R"Us with a 48K SF Gardner White Furniture
 
 
5

Maplewood
 
Houston-The Woodlands-Sugar Land, TX
 
 
Combine underutilized small shop space to accommodate relocation and expansion of Burke's Outlet to 21K SF
 
 
 
 
 
 
 
 
 
 
 
 
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 Five Below and 5K SF Famous Footwear
 
 
10

Superior Marketplace
 
Boulder, CO
 
 
Remerchandise former Sports Authority with a 23K 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 45K SF Big Lots, a 33K SF Tractor Supply and a 22K SF Planet Fitness and additional small shop space
 
 
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
 
Elkhart-Goshen, IN
 
 
Remerchandise former MC Sports with a 21K SF JOANN
 
 
15

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
 
 
16

18 Ryan
 
Detroit-Warren-Dearborn, MI
 
 
Remerchandise former grocer with a 39K SF Dream Market grocer and a 13K SF RedLine Athletics
 
 
17

Delco Plaza
 
Detroit-Warren-Dearborn, MI
 
 
Remerchandise former Babies"R"Us with a 55K SF Urban Air Adventure Park
 
 
18

Ellisville Square
 
St. Louis, MO-IL
 
 
Remerchandise and expand former Sports Authority with a 22K SF ALDI and a 15K SF Petco
 
 
19

Bedford Grove
 
Manchester-Nashua, NH
 
 
Remerchandise former Hannaford with a 21K SF Boston Interiors and a 36K SF Bed Bath & Beyond
 
 
20

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
 
 
21

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
 
 
22

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
 
 
23

Franklin Square - Project II
 
Charlotte-Concord-Gastonia, NC-SC
 
 
Remerchandise former Fallas with a 11K SF Five Below
 
 
24

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
 
 
25

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
 
 
26

Kingston Overlook
 
Knoxville, TN
 
 
Remerchandise former Babies"R"Us with a 42K SF Urban Air Adventure Park
 
 
27

The Commons at Wolfcreek
 
Memphis, TN-MS-AR
 
 
Remerchandise former hhgregg with a 39K SF Painted Tree Marketplace
 
 
28

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
 
 
29

Crossroads Centre - Pasadena
 
Houston-The Woodlands-Sugar Land, TX
 
 
Remerchandise and expand former Sears Outlet with a 37K SF LA Fitness
 
 
30

Tanglewilde Center
 
Houston-The Woodlands-Sugar Land, TX
 
 
Remerchandise and expand former Ace Hardware with a 19K SF ALDI and additional small shop space
 

Supplemental Disclosure - Three Months Ended December 31, 2018
Page 22
jpgstandardlogoa21.jpg




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

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
 
 
32

Ridgeview Centre
 
Big Stone Gap, VA
 
 
Remerchandise remaining former Kmart space with a 20K SF Marshalls and additional junior anchor
 
 
33

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
33

 
$
136,400
 
 
$
58,800

 
9% - 14%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
COMPLETED ANCHOR SPACE REPOSITIONINGS (2)
 
 
 
Projects Completed During The Three Months Ended December 31, 2018
 
 
 
 
 
1

Redford Plaza
 
Detroit-Warren-Dearborn, MI
 
 
Remerchandise former grocer with a 41K SF Sun Valley Market and a 15K SF Citi Trends
 
 
2

Laurel Square
 
New York-Newark-Jersey City, NY-NJ-PA
 
 
Recapture and remerchandise former Kmart with a 95K SF At Home
 
 
3

The Centre at Navarro
 
Victoria, TX
 
 
Remerchandise former Hastings with a 20K SF Planet Fitness and additional small shop space
 
 
 
 
 
 
 
 
 
 
 
 
Projects Completed During The Nine Months Ended September 30, 2018
 
 
 
 
 
4

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
 
 
5

Hunter's Creek Plaza
 
Orlando-Kissimmee-Sanford, FL
 
 
Remerchandise former LA Fitness and downsize Office Depot to accommodate a 30K SF Lucky’s Market
 
 
6

Commons of Chicago Ridge
 
Chicago-Naperville-Elgin, IL-IN-WI
 
 
Remerchandise former Office Depot with a 28K SF Ross Dress for Less
 
 
7

Haymarket Square
 
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
 
 
8

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
 
 
9

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

Dickson City Crossings - Project II
 
Scranton--Wilkes-Barre--Hazleton, PA
 
 
Remerchandise former hhgregg with a 28K SF Gabe's
 
 
11

The Commons at Wolfcreek
 
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
 
 
13

Northtown Plaza
 
Houston-The Woodlands-Sugar Land, TX
 
 
Remerchandise former Fallas Paredes with a 25K SF EL Rancho Grocer
 
 
14

Winwood Town Center
 
Odessa, TX
 
 
Remerchandise former Hastings with a 25K SF dd's Discounts (Ross Dress for Less)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of Projects
 
Net Project
Costs (1)
 
NOI Yield (1)
 
 
 
 
 
 
 
 
Total Completed
14

 
$
24,650
 
 
12
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Represents gross project costs less any project specific credits (lease termination fees or other ancillary credits).
 
(2) The project at Wadsworth Crossings was removed from completed projects due to sale of property during the fourth quarter.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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, 2018.

Supplemental Disclosure - Three Months Ended December 31, 2018
Page 23
jpgstandardlogoa21.jpg




OUTPARCEL DEVELOPMENT & NEW DEVELOPMENT SUMMARY
Dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
OUTPARCEL DEVELOPMENTS:
 
 
 
 
 
 Net
 
 Gross
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Stabilization
 
 Estimated
 
 Costs
 
Expected
 
 
 
Property Name
 
MSA
 
Project Description
 
Quarter
 
 Costs (1)
 
 to Date
 
NOI Yield (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
IN PROCESS OUTPARCEL DEVELOPMENTS
 
 
 
 
 
 
 
 
 
 
 
New Projects Added To In Process Pipeline During The Three Months Ended December 31, 2018
 
 
 
 
 
 
 
 
 
 
1
Westridge Court
 
Chicago-Naperville-Elgin, IL-IN-WI
 
Construction of an 8K SF Lazy Dog Restaurant and Bar
 
Dec-19
 
$
2,300

 
$
200

 
6%
 
 
2
Park Hills Plaza
 
Altoona, PA
 
Construction of a 10K SF multi-tenant outparcel, including a 2K SF Starbucks
 
Sep-20
 
3,950

 
300

 
9%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
In Process Projects
 
 
 
 
 
 
 
 
 
 
 
 
 
 
3
Westview Center
 
Chicago-Naperville-Elgin, IL-IN-WI
 
Construction of a 4K SF Andigo Credit Union
 
Mar-19
 
200

 
200

 
60%
 
 
4
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

 
2,700

 
8%
 
 
5
Milestone Plaza
 
Greenville-Anderson-Mauldin, SC
 
Construction of a 5K SF Panera
 
Mar-19
 
500

 
100

 
8%
 
 
6
Fry Road Crossing
 
Houston-The Woodlands-Sugar Land, TX
 
Construction of a 4K SF Freddy's Frozen Custard and Steakburgers
 
Mar-19
 
150

 
50

 
89%
 
 
7
The Shoppes at Cinnaminson
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
Construction of a 3K SF Chase
 
Jun-19
 
1,250

 
1,100

 
14%
 
 
8
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
 
Sep-19
 
2,450

 
1,950

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

 
150

 
20%
 
 
10
Dalewood I, II & III Shopping Center
 
New York-Newark-Jersey City, NY-NJ-PA
 
Construction of a 5K SF multi-tenant outparcel, including a 3K SF Shake Shack
 
Dec-19
 
2,900

 
2,600

 
15%
 
 
11
Hanover Square
 
Richmond, VA
 
Construction of a 12K SF multi-tenant outparcel, including a 5K SF Panera and a 2K SF Chipotle
 
Mar-20
 
4,250

 
2,450

 
11%
 
 
12
Market Centre
 
Elkhart-Goshen, IN
 
Construction of a 10K SF multi-tenant outparcel, including a 2K SF GNC and a 1K SF Cricket Wireless
 
Jun-20
 
3,050

 
1,950


9%
 
 
 
TOTAL IN PROCESS OUTPARCEL DEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE
 
 
 
 
 
$
24,500

 
$
13,750

 
11%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Stabilization
 
 
 
Net Project
 
 
 
 
 
Property Name
 
MSA
 
Project Description
 
Quarter
 
 
 
 Costs (1,2)
 
NOI Yield (1,2)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
COMPLETED OUTPARCEL DEVELOPMENTS
 
 
 
 
 
 
 
 
 
 
 
 
 
Projects Completed During The Three Months Ended December 31, 2018
 
 
 
 
 
 
 
 
 
 
1
Berkshire Crossing
 
Pittsfield, MA
 
Construction of a 5K SF Chili's
 
Dec-18
 
 
 
$
350

 
41%
 
 
2
Parkway Plaza
 
Winston-Salem, NC
 
Construction of a 3K SF Biscuitville
 
Dec-18
 
 
 
650

 
18%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Projects Completed During The Nine Months Ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
3
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
 
 
 
4,000

 
12%
 
 
4
Westchester Square
 
Kansas City, MO-KS
 
Construction of a 2K SF Starbucks outparcel
 
Mar-18
 
 
 
1,050

 
12%
 
 
5
Orange Grove
 
Houston-The Woodlands-Sugar Land, TX
 
Construction of a 4K SF Chick-fil-A outparcel
 
Jun-18
 
 
 
50

 
193%
 
 
6
Lake St. Charles
 
Tampa-St. Petersburg-Clearwater, FL
 
Construction of a 4K SF Speedy Carwash
 
Sep-18
 
 
 
50

 
130%
 
 
 
TOTAL COMPLETED OUTPARCEL DEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE
 
 
 
 
 
 
 
$
6,150

 
17%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NEW DEVELOPMENTS:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Stabilization
 
 
 
Net Project
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
MSA
 
Project Description
 
Quarter
 
 
 
 Costs (1,2)
 
NOI Yield (1,2)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
COMPLETED NEW DEVELOPMENTS
 
 
 
 
 
 
 
 
 
 
 
 
 
Projects Completed During The Nine Months Ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
1
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
 
 
 
$
39,300

 
9%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Represents gross project costs less any project specific credits (lease termination fees or other ancillary credits).
 
 
 
 
 
 
 
(2) 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, 2018.

Supplemental Disclosure - Three Months Ended December 31, 2018
Page 24
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 December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1

Hearthstone Corners
 
Houston-The Woodlands-Sugar Land, TX
 
Remerchandise former Kroger with a 63K SF El Rancho grocer; redevelopment of former Stein Mart and adjacent small shop space with a 40K SF Conn's HomePlus; and shopping center upgrades including façade renovations and pylon sign upgrades
 
16
 
Dec-19
 
$
3,800

 
$
400

 
9
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2

Seminole Plaza
 
Tampa-St. Petersburg-Clearwater, FL
 
Redevelopment and rightsize existing Burlington Stores to 54K SF to accommodate addition of a 33K SF Sprouts Farmers Market; remerchandise additional small shop space with relevant retailers; and shopping center upgrades including facade renovations, parking lot enhancements and pylon sign upgrades
 
12
 
Sep-20
 
8,950

 
200

 
9
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
3

Roseville Center
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
Demolish 26K SF of retail space to accommodate a 22K SF ALDI; reconfigure remaining underutilized small shop space; and shopping center upgrades including façade renovations, parking lot reconfiguration and common area enhancements
 
6
 
Dec-20
 
6,400

 
550

 
9
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
4

Roosevelt Mall
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
Demolish 13K SF of retail space to accommodate construction of a 34K SF LA Fitness and combine small shop spaces for an 11K SF Oak Street Health
 
36
 
Dec-20
 
10,100

 
750

 
8
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
In Process Projects
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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
 
Sep-19
 
6,550

 
5,200

 
10
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
6

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
 
10,450

 
3,800

 
9
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
7

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

 
7,300

 
7
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
8

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

 
11,550

 
9
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
9

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; rightsize small shop GLA by 6K SF; shopping center upgrades include façade, landscaping and parking enhancements; and sustainable features including smart irrigation and LED Lighting
 
14
 
Dec-19
 
10,350

 
1,900

 
10
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
10

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; and shopping center upgrades including landscaping, storm water and parking enhancements and LED lighting
 
2
 
Jun-20
 
11,100

 
7,400

 
11
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11

Collegeville Shopping Center
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
Addition of a 15K SF Kimberton Whole Foods organic grocer; remerchandise 29K SF of underutilized space with new relevant retailers; and shopping center upgrades including façade renovations, LED lighting, new pylon signage and new landscaping
 
14
 
Jun-20
 
4,950

 
1,650

 
14
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12

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
 
21,450

 
4,550

 
8
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
13

Braes Heights
 
Houston-The Woodlands-Sugar Land, TX
 
Expansion of existing My Salon Suite to 14K 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
 
Jun-20
 
6,500

 
3,800

 
8
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended December 31, 2018
Page 25
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)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
14

Maple Village - Phase II
 
Ann Arbor, MI
 
Construction of a 34K SF LA Fitness and a 4K SF endcap; addition of an 8K SF Five Below, an 8K SF Kirkland’s and a 5K SF Carter’s; and shopping center upgrades including façade renovations and common area enhancements
 
31
 
Dec-20
 
16,550

 
12,350

 
7
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
15

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
 
37,050

 
12,200

 
9
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL IN PROCESS REDEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE
 
 
 
 
 
$
191,300

 
$
73,600

 
9
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property
 
Stabilization
 
 
 
Net Project
 
 
 
 
Property Name
 
MSA
 
Project Description
 
Acreage
 
Quarter
 
 
 
 Costs (1,3)
 
NOI Yield (1,3)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
COMPLETED REDEVELOPMENTS
 
 
 
 
 
 
 
 
 
 
 
 
 
Projects Completed During The Three Months Ended December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1

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
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2

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
 
 
 
11,600

 
10
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
3

Maple Village - Phase I
 
Ann Arbor, MI
 
Redevelopment of former Kmart with a 34K SF Stein Mart, a 22K SF Sierra Trading Post, a 20K SF HomeGoods and an 11K SF Ulta and an additional 5K small shop space
 
31
 
Dec-18
 
 
 
13,250

 
6
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Projects Completed During The Nine Months Ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
4

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
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5

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 spaces with relevant retailers including a 3K SF Pet Valu, a 2K SF Nothing Bundt Cakes and a 2K SF T-Mobile; and shopping center upgrades including façade and common area enhancements, LED lighting and new landscaping
 
14
 
Jun-18
 
 
 
1,650

 
15
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
6

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
 
 
 
6,350

 
8
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL COMPLETED REDEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE
 
 
 
 
 


 
$
60,850

 
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, 2018.
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended December 31, 2018
Page 26
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 - Phase II
 
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

Fox Run (1)
 
Washington-Arlington-Alexandria, DC-VA-MD-WV
 
Redevelopment of existing anchor spaces for multiple retailers, potential outparcel development, enhancement of common areas
 
 
3

North Dover Center (1)
 
Dover, DE
 
Redevelopment of existing anchor space for multiple retailers
 
 
4

Venetian Isle Shopping Ctr
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
Redevelopment of existing anchor space for new anchor prototype, potential outparcel development
 
 
5

Freedom Square
 
Naples-Immokalee-Marco Island, FL
 
Redevelopment of existing anchor space for multiple retailers and/or entertainment users, potential outparcel development
 
 
6

Marco Town Center
 
Naples-Immokalee-Marco Island, FL
 
Remerchandise with experiential retailers, reconfiguration of common areas for community space
 
 
7

Pointe Orlando
 
Orlando-Kissimmee-Sanford, FL
 
Redevelopment, densification and rebranding for multiple retailers and/or entertainment users
 
 
8

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

Rivercrest Shopping Center (1)
 
Chicago-Naperville-Elgin, IL-IN-WI
 
Redevelopment of existing anchor space for multiple retailers
 
 
10

Tinley Park Plaza
 
Chicago-Naperville-Elgin, IL-IN-WI
 
Reconfiguration of existing footprint for multiple retailers and/or entertainment users, outparcel development
 
 
11

Market Centre
 
Elkhart-Goshen, IN
 
Densification of site, including several multi-tenant outparcel buildings
 
 
12

WaterTower Plaza (1)
 
Worcester, MA-CT
 
Redevelopment of existing anchor space for multiple retailers
 
 
13

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

Redford Plaza
 
Detroit-Warren-Dearborn, MI
 
Redevelopment of existing anchor space for multiple retailers, potential outparcel development, façade renovations
 
 
15

Capitol Shopping Center
 
Concord, NH
 
Redevelopment of existing anchor space for multiple retailers
 
 
16

Hamilton Plaza
 
Trenton, NJ
 
Redevelopment of existing anchor spaces for multiple retailers, potential outparcel development, enhancement of common areas
 
 
17

Laurel Square
 
New York-Newark-Jersey City, NY-NJ-PA
 
Redevelopment of additional anchor space for multiple retailers, enhancement of common areas
 
 
18

Stewart Plaza
 
New York-Newark-Jersey City, NY-NJ-PA
 
Reconfigure existing anchor space and remerchandise for multiple retailers
 
 
19

Western Hills Plaza
 
Cincinnati, OH-KY-IN
 
Redevelopment of existing anchor space for multiple retailers, enhancement of common areas
 
 
20

Bristol Park (1)
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
Redevelopment of existing anchor spaces for multiple retailers, potential outparcel development, enhancement of common areas
 
 
21

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
 
 
22

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

Supplemental Disclosure - Three Months Ended December 31, 2018
Page 27
jpgstandardlogoa21.jpg




FUTURE REDEVELOPMENT OPPORTUNITIES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
MSA
 
Project Description
 
 
 
 
 
 
 
 
 
 
23

Hillcrest Market Place
 
Spartanburg, SC
 
Redevelopment of existing anchor space for multiple retailers, potential outparcel development, enhancement of common areas
 
 
24

The Commons at Wolfcreek
 
Memphis, TN-MS-AR
 
Redevelopment of additional anchor space for multiple retailers, potential outparcel development
 
 
25

Carmel Village
 
Corpus Christi, TX
 
Redevelopment of existing anchor space for multiple retailers, potential outparcel development, façade renovations
 
 
26

Kessler Plaza
 
Dallas-Fort Worth-Arlington, TX
 
Remerchandise former discount grocer and existing small shop space
 
 
27

Preston Park Village
Dallas-Fort Worth-Arlington, TX
 
Repurpose, assemble and reposition for national retail merchandise mix, densification of site, enhancement of common areas
 
 
28

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 December 31, 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, 2018.
 

Supplemental Disclosure - Three Months Ended December 31, 2018
Page 28
jpgstandardlogoa21.jpg




 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PORTFOLIO SUMMARY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure
Three Months Ended December 31, 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:
 
 
 
 
 
 
 
 
 
12/31/18
 
9/30/18
 
6/30/18
 
3/31/18
 
12/31/17
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of properties
 
 
425

 
445

 
471

 
480

 
486

 
 
 
 
 
GLA
 
 
73,673,124

 
76,577,108

 
79,997,289

 
81,732,582

 
82,812,209

 
 
 
 
 
Percent billed
 
 
88.4%

 
89.4%

 
89.4%

 
89.8%

 
90.3%

 
 
 
 
 
Percent leased
 
 
91.9%

 
92.5%

 
92.5%

 
92.1%

 
92.2%

 
 
 
 
 
 
TOTAL ≥ 10,000 SF
 
 
94.6%

 
95.5%

 
95.6%

 
95.4%

 
95.5%

 
 
 
 
 
 
TOTAL < 10,000 SF
 
 
85.7%

 
85.5%

 
85.1%

 
84.4%

 
84.5%

 
 
 
 
 
ABR
 
 
$
887,743

 
$
911,116

 
$
941,392

 
$
943,734

 
$
949,568

 
 
 
 
 
ABR PSF
 
 
$
14.10

 
$
13.89

 
$
13.73

 
$
13.61

 
$
13.47

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PORTFOLIO BY UNIT SIZE AS OF 12/31/18
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of
Units
 
GLA
 
Percent Billed
 
Percent Leased
 
Percent of Vacant GLA
 
 ABR
 
ABR PSF
 
 
 
 
≥ 35,000 SF
480

 
28,775,204

 
92.3%

 
95.6%

 
21.1%

 
$
236,033

 
$
9.88

 
 
 
 
20,000 - 34,999 SF
515

 
13,570,354

 
89.4%

 
94.1%

 
13.4%

 
134,353

 
10.70

 
 
 
 
10,000 - 19,999 SF
653

 
8,951,555

 
88.0%

 
92.2%

 
11.7%

 
111,006

 
13.86

 
 
 
 
5,000 - 9,999 SF
1,207

 
8,309,491

 
84.9%

 
87.1%

 
17.9%

 
120,651

 
17.44

 
 
 
 
< 5,000 SF
6,699

 
14,066,520

 
81.6%

 
84.8%

 
35.9%

 
285,700

 
24.70

 
 
 
 
TOTAL
9,554

 
73,673,124

 
88.4%

 
91.9%

 
100.0%

 
$
887,743

 
$
14.10

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL ≥ 10,000 SF
1,648

 
51,297,113

 
90.8%

 
94.6%

 
46.1%

 
$
481,392

 
$
10.83

 
 
 
 
TOTAL < 10,000 SF
7,906

 
22,376,011

 
82.8%

 
85.7%

 
53.9%

 
406,351

 
21.98

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Reflects portfolio statistics as reported for the specified period.
 
 
 
 
 
 
 
 




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




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

 
 
 
 
1

The TJX Companies, Inc. (1)
 
86

 
2,676,266

 
3.6
%
 
$
29,515

 
3.3
%
 
$
11.03

 
 
 
 
2

The Kroger Co. (2)
 
54

 
3,607,839

 
4.9
%
 
25,880

 
2.9
%
 
7.17

 
 
 
 
3

Dollar Tree Stores, Inc. (3)
 
133

 
1,522,382

 
2.1
%
 
16,132

 
1.8
%
 
10.60

 
 
 
 
4

Burlington Stores, Inc.
 
23

 
1,446,713

 
2.0
%
 
12,618

 
1.4
%
 
8.72

 
 
 
 
5

Publix Super Markets, Inc.
 
30

 
1,332,920

 
1.8
%
 
12,521

 
1.4
%
 
9.39

 
 
 
 
6

Albertson's Companies, Inc. (4)
 
20

 
1,122,477

 
1.5
%
 
12,020

 
1.4
%
 
10.71

 
 
 
 
7

Ahold Delhaize (5)
 
21

 
1,145,961

 
1.6
%
 
11,906

 
1.3
%
 
10.39

 
 
 
 
8

L.A Fitness International, LLC
 
15

 
629,515

 
0.9
%
 
10,469

 
1.2
%
 
16.63

 
 
 
 
9

Ross Stores, Inc. (6)
 
32

 
881,393

 
1.2
%
 
10,057

 
1.1
%
 
11.41

 
 
 
 
10

Wal-Mart Stores, Inc. (7)
 
19

 
2,351,481

 
3.2
%
 
9,979

 
1.1
%
 
4.24

 
 
 
 
 
 
 
433

 
16,716,947

 
22.8
%
 
151,097

 
16.9
%
 
9.04

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11

Bed Bath & Beyond, Inc. (8)
 
31

 
765,616

 
1.0
%
 
9,693

 
1.1
%
 
12.66

 
 
 
 
12

PetSmart, Inc.
 
26

 
587,388

 
0.8
%
 
8,796

 
1.0
%
 
14.97

 
 
 
 
13

Big Lots, Inc.
 
39

 
1,276,178

 
1.7
%
 
8,216

 
0.9
%
 
6.44

 
 
 
 
14

PETCO Animal Supplies, Inc. (9)
 
34

 
460,940

 
0.6
%
 
7,930

 
0.9
%
 
17.20

 
 
 
 
15

Best Buy Co., Inc.
 
14

 
583,462

 
0.8
%
 
7,838

 
0.9
%
 
13.43

 
 
 
 
16

The Michaels Companies, Inc.
 
27

 
604,054

 
0.8
%
 
7,166

 
0.8
%
 
11.86

 
 
 
 
17

Kohl's Corporation
 
12

 
914,585

 
1.2
%
 
7,107

 
0.8
%
 
7.77

 
 
 
 
18

Party City Holdco Inc.
 
33

 
471,082

 
0.6
%
 
6,482

 
0.7
%
 
13.76

 
 
 
 
19

Office Depot, Inc. (10)
 
27

 
592,765

 
0.8
%
 
6,450

 
0.7
%
 
10.88

 
 
 
 
20

Ulta Beauty, Inc.
 
24

 
274,429

 
0.4
%
 
6,151

 
0.7
%
 
22.41

 
 
 
 
 
 
 
700

 
23,247,446

 
31.5
%
 
226,926

 
25.4
%
 
9.76

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
21

Staples, Inc.
 
23

 
476,124

 
0.6
%
 
5,959

 
0.7
%
 
12.52

 
 
 
 
22

DICK's Sporting Goods, Inc. (11)
 
10

 
372,043

 
0.5
%
 
5,155

 
0.6
%
 
13.86

 
 
 
 
23

Hobby Lobby Stores, Inc.
 
14

 
779,033

 
1.1
%
 
5,036

 
0.6
%
 
6.46

 
 
 
 
24

Ascena Retail Group, Inc. (12)
 
45

 
279,104

 
0.4
%
 
5,016

 
0.6
%
 
17.97

 
 
 
 
25

CVS Health
 
17

 
237,699

 
0.3
%
 
4,921

 
0.6
%
 
20.70

 
 
 
 
26

Five Below, Inc.
 
30

 
261,656

 
0.4
%
 
4,912

 
0.6
%
 
18.77

 
 
 
 
27

Southeastern Grocers (13)
 
12

 
568,562

 
0.8
%
 
4,534

 
0.5
%
 
7.97

 
 
 
 
28

JOANN Stores, Inc.
 
21

 
415,255

 
0.6
%
 
4,402

 
0.5
%
 
10.60

 
 
 
 
29

DSW, Inc.
 
14

 
268,691

 
0.4
%
 
4,376

 
0.5
%
 
16.29

 
 
 
 
30

The Home Depot, Inc.
 
6

 
556,632

 
0.8
%
 
4,326

 
0.5
%
 
7.77

 
 
 
 
31

Giant Eagle, Inc
 
5

 
391,503

 
0.5
%
 
4,285

 
0.5
%
 
10.94

 
 
 
 
32

Mattress Firm, Inc.
 
31

 
186,366

 
0.3
%
 
4,278

 
0.5
%
 
22.95

 
 
 
 
33

H.E. Butt Grocery Company (14)
 
5

 
293,610

 
0.4
%
 
4,253

 
0.5
%
 
14.49

 
 
 
 
34

AMC Entertainment Holdings, Inc.
 
4

 
214,355

 
0.3
%
 
4,151

 
0.5
%
 
19.37

 
 
 
 
35

Sally Beauty Holdings, Inc. (15)
 
102

 
180,900

 
0.2
%
 
4,133

 
0.5
%
 
22.85

 
 
 
 
36

Barnes & Noble, Inc.
 
10

 
224,673

 
0.3
%
 
4,023

 
0.5
%
 
17.91

 
 
 
 
37

JP Morgan Chase & Co.
 
28

 
101,202

 
0.1
%
 
3,950

 
0.4
%
 
39.03

 
 
 
 
38

Wakefern Food Corporation (16)
 
6

 
307,332

 
0.4
%
 
3,858

 
0.4
%
 
12.55

 
 
 
 
39

Gap, Inc. (17)
 
15

 
236,332

 
0.3
%
 
3,838

 
0.4
%
 
16.24

 
 
 
 
40

Price Chopper
 
5

 
335,138

 
0.5
%
 
3,824

 
0.4
%
 
11.41

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL TOP 40 RETAILERS
 
1,103

 
29,933,656

 
40.7
%
 
$
316,156

 
35.7
%
 
$
10.56

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Includes T.J. Maxx-39, Marshalls-35, HomeGoods-10, HomeSense-1 and Sierra
 
(5) Includes Super Stop & Shop-7, Giant Food-5, Food Lion-4, Stop & Shop-2,
 
(10) Includes Office Depot-14 and OfficeMax-13.
 
 
Trading Post-1.
 
Bottom Dollar Food-1, Hannaford-1 and Tops Market-1. Excludes one lease
 
(11) Includes DICK'S Sporting Goods-6 and Golf Galaxy-4.
 
 
(2) Includes Kroger-42, King Soopers-3, Harris Teeter-2, Ralphs-2, Pick ' N Save-2,
 
where retailer is guarantor.
 
(12) Includes dressbarn-16, Catherines-8, Justice-7, Lane Bryant-7,
 
 
Dillons-1, Food 4 Less-1 and Pay Less-1.
 
(6) Includes Ross Dress for Less-29 and dd's Discounts-3.
 
maurices-5, Ann Taylor-1 and Roz & Ali-1.
 
 
(3) Includes Dollar Tree-110, Family Dollar-22 and Deals$-1.
 
(7) Includes Supercenters-11, Discount Stores-4, Walmart Neighborhood
 
(13) Includes Winn-Dixie-6, BI-LO-3, Harveys-2 and Fresco y Más-1.
 
 
(4) Includes Vons-4, Acme-3, Randalls-3, Albertsons-2, Jewel-Osco-2,
 
Market-3 and Sam's Club-1.
 
(14) Includes H-E-B-4 and Central Market-1.
 
 
Shaw's-2, Tom Thumb-2, Shop & Save Market-1 and Star Market-1.
 
(8) Includes Bed Bath & Beyond-17, Harmon Face Values-6, Christmas
 
(15) Includes Sally Beauty-94, Cosmoprof-7 and Macon Beauty Systems-1.
 

 
Tree Shops-4, Cost Plus World Market-2 and buybuy Baby-2.
 
(16) Includes ShopRite-3 and PriceRite-3.
 
 
 
 
(9) Includes PETCO-33 and Unleashed-1.
 
(17) Includes Old Navy-11, GAP Factory-3 and Banana Republic-1.
 

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




NEW & RENEWAL LEASE SUMMARY
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
Tenant Improvements and Allowances PSF
 
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 12/31/18
 
454

 
3,093,665

 
$
42,079

 
$
13.60

 
$
6.97

 
$
1.64

 
6.4

 
360

 
2,648,318

 
$
12.85

 
$
11.74

 
9.5
 
 
 
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
 
 
 
TOTAL - TTM
 
1,979

 
12,370,589

 
$
177,627

 
$
14.36

 
$
7.57

 
$
1.48

 
6.6

 
1,619

 
10,437,897

 
$
14.16

 
$
12.67

 
11.8

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NEW & RENEWAL LEASES ONLY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 12/31/18
 
401

 
2,105,376

 
$
32,938

 
$
15.64

 
$
10.25

 
$
2.41

 
7.0

 
307

 
1,660,029

 
$
14.99

 
$
13.48

 
11.2
 
 
 
Three months ended 9/30/18
 
436

 
2,238,581

 
34,534

 
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
 
 
 
TOTAL - TTM
 
1,696

 
8,467,746

 
$
133,093

 
$
15.72

 
$
11.01

 
$
2.15

 
7.2

 
1,336

 
6,535,054

 
$
15.79

 
$
13.88

 
13.8
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NEW LEASES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 12/31/18
 
153

 
935,830

 
$
14,452

 
$
15.44

 
$
20.84

 
$
5.42

 
9.2

 
61

 
501,633

 
$
13.14

 
$
9.99

 
31.5
 
 
 
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
 
 
 
TOTAL - TTM
 
637

 
3,867,457

 
$
57,572

 
$
14.89

 
$
21.82

 
$
4.66

 
9.6

 
285

 
1,965,020

 
$
14.43

 
$
10.74

 
34.4
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
RENEWAL LEASES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 12/31/18
 
248

 
1,169,546

 
$
18,486

 
$
15.81

 
$
1.77

 
$
—

 
5.1

 
246

 
1,158,396

 
$
15.79

 
$
14.99

 
5.3
 
 
 
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
 
 
 
TOTAL - TTM
 
1,059

 
4,600,289

 
$
75,521

 
$
16.42

 
$
1.92

 
$
0.04

 
5.2

 
1,051

 
4,570,034

 
$
16.38

 
$
15.22

 
7.6
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
OPTION LEASES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 12/31/18
 
53

 
988,289

 
$
9,141

 
$
9.25

 
$
—

 
$
—

 
5.1

 
53

 
988,289

 
$
9.25

 
$
8.83

 
4.8
 
 
 
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
 
 
 
TOTAL - TTM
 
283

 
3,902,843

 
$
44,534

 
$
11.41

 
$
0.10

 
$
0.03

 
5.2

 
283

 
3,902,843

 
$
11.41

 
$
10.66

 
7.0
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
LEASES BY ANCHOR AND SMALL SHOP
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended 12/31/18
 
 
 
TTM Ended 12/31/18
 
 
 
 
 
 
 
% of Leases
 
% of GLA
 
% of ABR
 
New ABR PSF
 
Rent Spread (1)
 
 
 
% of Leases
 
% of GLA
 
% of ABR
 
New ABR PSF
 
Rent Spread (1)
 
 
Anchor Leases (≥ 10,000 SF)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total - New, Renewal & Option Leases
 
15
%
 
67
%
 
45
%
 
$
9.19

 
9.4
%
 
 
 
14
%
 
63
%
 
44
%
 
$
10.04

 
11.8
 
 
 
New & Renewal Leases Only
 
11
%
 
56
%
 
37
%
 
10.41

 
13.8
%
 
 
 
10
%
 
54
%
 
37
%
 
10.59

 
16.7
 
 
 
New Leases
 
 
 
12
%
 
64
%
 
44
%
 
10.62

 
39.4
%
 
 
 
13
%
 
64
%
 
45
%
 
10.41

 
46.0
 
 
 
Renewal Leases
 
 
 
10
%
 
50
%
 
32
%
 
10.19

 
2.7
%
 
 
 
8
%
 
46
%
 
30
%
 
10.78

 
4.3
 
 
 
Option Leases
 
 
 
43
%
 
90
%
 
74
%
 
7.57

 
3.7
%
 
 
 
34
%
 
83
%
 
67
%
 
9.27

 
6.4
 
 
Small Shop Leases (< 10,000 SF)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total - New, Renewal & Option Leases
 
85
%
 
33
%
 
55
%
 
$
22.59

 
9.3
%
 
 
 
86
%
 
37
%
 
56
%
 
$
21.83

 
11.6
 
 
 
New & Renewal Leases Only
 
89
%
 
44
%
 
63
%
 
22.37

 
9.5
%
 
 
 
90
%
 
46
%
 
63
%
 
21.84

 
12.3
 
 
 
New Leases
 
 
 
88
%
 
36
%
 
56
%
 
23.90

 
23.3
%
 
 
 
87
%
 
36
%
 
55
%
 
22.80

 
25.2
 
 
 
Renewal Leases
 
 
 
90
%
 
50
%
 
68
%
 
21.48

 
6.6
%
 
 
 
92
%
 
54
%
 
70
%
 
21.29

 
9.1
 
 
 
Option Leases
 
 
 
57
%
 
10
%
 
26
%
 
24.72

 
8.1
%
 
 
 
66
%
 
17
%
 
33
%
 
21.79

 
8.4
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) 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 December 31, 2018
Page 32
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
 
 
 
 
 
 
12/31/18
 
12/31/18
 
9/30/18
 
6/30/18
 
3/31/18
 
12/31/17
 
 
 
NEW LEASES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average over lease term:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Base rent
 
$ 16.03
 
$ 16.81
 
$ 15.66
 
$ 16.08
 
$ 15.58
 
$ 16.94
 
 
 
 
Tenant improvements and allowances
 
(2.29)
 
(2.10)
 
(2.38)
 
(2.43)
 
(2.24)
 
(2.17)
 
 
 
 
Third party leasing commissions
 
(0.49)
 
(0.57)
 
(0.48)
 
(0.47)
 
(0.44)
 
(0.42)
 
 
 
NET EFFECTIVE RENT BEFORE TENANT SPECIFIC LANDLORD WORK
 
13.25
 
14.14
 
12.80
 
13.18
 
12.90
 
14.35
 
 
 
 
Tenant specific landlord work (1)
 
(0.70)
 
(1.11)
 
(0.55)
 
(0.56)
 
(0.60)
 
(0.45)
 
 
 
NET EFFECTIVE RENT
 
$ 12.55
 
$ 13.03
 
$ 12.25
 
$ 12.62
 
$ 12.30
 
$ 13.90
 
 
 
Net effective rent before tenant specific landlord work /
 

 

 

 

 

 

 
 
 
base rent
 
83%
 
84%
 
82%
 
82%
 
83%
 
85%
 
 
 
Net effective rent / base rent
 
78%
 
77%
 
78%
 
79%
 
79%
 
82%
 
 
 
Weighted average term (years)
 
9.6
 
9.2
 
9.1
 
9.6
 
10.2
 
9.2
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
PERCENT OF TOTAL NET EFFECTIVE RENT BY ANCHOR AND SMALL SHOP
 
 
 
 
 
 
 
 
 
 
≥ 10,000 SF
 
40%
 
36%
 
39%
 
40%
 
45%
 
47%
 
 
 
 
< 10,000 SF
 
60%
 
64%
 
61%
 
60%
 
55%
 
53%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
LEASES SIGNED BUT NOT YET COMMENCED
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of 12/31/18:
 
Leases
 
GLA
 
ABR
 
ABR PSF
 
 
 
 
 
 
 
 
≥ 10,000 SF
 
82
 
2,367,460
 
$ 27,310
 
$ 11.54
 
 
 
 
 
 
 
 
< 10,000 SF
 
266
 
730,379
 
19,378
 
26.53
 
 
 
 
 
 
 
 
TOTAL
 
348
 
3,097,839
 
$ 46,688
 
$ 15.07
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Represents base building costs funded through tenant allowances.
 
 
 
 
 
 
 
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 December 31, 2018
Page 33
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
 
313

 
922,947

 
1.4
 
1.5
%
 
$
14.24

 
$
14.24

 
 
10

 
246,727

 
0.5
%
 
0.4
%
 
$
7.00

 
$
7.00

 
 
303

 
676,220

 
3.5
%
 
2.8
%
 
$
16.88

 
$
16.88

 
 
2019
 
1,154

 
6,349,213

 
9.4
 
8.8
%
 
12.25

 
12.25

 
 
104

 
3,580,029

 
7.4
%
 
5.8
%
 
7.80

 
7.80

 
 
1,050

 
2,769,184

 
14.4
%
 
12.3
%
 
18.01

 
18.01

 
 
2020
 
1,356

 
9,985,621

 
14.7
 
13.8
%
 
12.26

 
12.34

 
 
229

 
7,056,947

 
14.5
%
 
13.0
%
 
8.85

 
8.87

 
 
1,127

 
2,928,674

 
15.3
%
 
14.8
%
 
20.49

 
20.69

 
 
2021
 
1,206

 
9,244,589

 
13.7
 
12.9
%
 
12.38

 
12.58

 
 
193

 
6,511,557

 
13.4
%
 
12.2
%
 
9.00

 
9.02

 
 
1,013

 
2,733,032

 
14.3
%
 
13.8
%
 
20.45

 
21.06

 
 
2022
 
1,039

 
8,276,063

 
12.2
 
12.4
%
 
13.28

 
13.66

 
 
197

 
5,933,573

 
12.2
%
 
12.1
%
 
9.83

 
9.92

 
 
842

 
2,342,490

 
12.2
%
 
12.7
%
 
22.01

 
23.14

 
 
2023
 
991

 
7,312,658

 
10.8
 
11.1
%
 
13.51

 
13.95

 
 
179

 
5,012,353

 
10.3
%
 
10.2
%
 
9.80

 
9.87

 
 
812

 
2,300,305

 
12.0
%
 
12.2
%
 
21.59

 
22.82

 
 
2024
 
646

 
6,613,415

 
9.8
 
9.0
%
 
12.14

 
13.09

 
 
157

 
5,081,137

 
10.5
%
 
10.0
%
 
9.53

 
10.07

 
 
489

 
1,532,278

 
8.0
%
 
7.8
%
 
20.78

 
23.07

 
 
2025
 
295

 
3,248,556

 
4.8
 
4.9
%
 
13.38

 
14.46

 
 
83

 
2,468,035

 
5.1
%
 
5.6
%
 
10.96

 
11.58

 
 
212

 
780,521

 
4.1
%
 
4.0
%
 
21.04

 
23.55

 
 
2026
 
287

 
2,855,423

 
4.2
 
4.9
%
 
15.29

 
16.81

 
 
77

 
2,139,509

 
4.4
%
 
5.4
%
 
12.14

 
13.00

 
 
210

 
715,914

 
3.7
%
 
4.4
%
 
24.69

 
28.21

 
 
2027
 
308

 
2,911,954

 
4.3
 
4.9
%
 
14.87

 
16.78

 
 
70

 
2,109,713

 
4.4
%
 
5.2
%
 
11.81

 
12.99

 
 
238

 
802,241

 
4.2
%
 
4.5
%
 
22.89

 
26.75

 
 
2028
 
304

 
2,672,197

 
3.9
 
4.8
%
 
16.15

 
18.16

 
 
69

 
1,907,365

 
3.9
%
 
4.6
%
 
11.66

 
12.50

 
 
235

 
764,832

 
4.0
%
 
5.1
%
 
27.35

 
32.27

 
 
2029+
 
423

 
7,320,239

 
10.8
 
11.0
%
 
13.30

 
15.47

 
 
181

 
6,500,368

 
13.4
%
 
15.5
%
 
11.49

 
13.14

 
 
242

 
819,871

 
4.3
%
 
5.6
%
 
27.69

 
33.92

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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
 
313

 
922,947

 
1.4
 
1.5
%
 
$
14.24

 
$
14.24

 
 
10

 
246,727

 
0.5
%
 
0.3
%
 
$
7.00

 
$
7.00

 
 
303

 
676,220

 
3.5
%
 
2.8
%
 
$
16.88

 
$
16.88

 
 
2019
 
857

 
3,179,878

 
4.7
 
5.0
%
 
13.98

 
13.98

 
 
47

 
1,150,960

 
2.4
%
 
1.9
%
 
7.83

 
7.83

 
 
810

 
2,028,918

 
10.6
%
 
8.7
%
 
17.46

 
17.46

 
 
2020
 
908

 
3,600,956

 
5.3
 
6.1
%
 
15.12

 
15.30

 
 
65

 
1,575,424

 
3.2
%
 
2.9
%
 
8.90

 
9.00

 
 
843

 
2,025,532

 
10.6
%
 
9.9
%
 
19.95

 
20.19

 
 
2021
 
821

 
2,761,224

 
4.1
 
5.4
%
 
17.35

 
17.90

 
 
40

 
897,495

 
1.8
%
 
2.0
%
 
10.56

 
10.64

 
 
781

 
1,863,729

 
9.7
%
 
9.5
%
 
20.62

 
21.40

 
 
2022
 
681

 
2,352,362

 
3.5
 
4.8
%
 
18.09

 
19.08

 
 
40

 
783,773

 
1.6
%
 
1.8
%
 
11.07

 
11.24

 
 
641

 
1,568,589

 
8.2
%
 
8.3
%
 
21.59

 
22.99

 
 
2023
 
660

 
2,445,455

 
3.6
 
4.9
%
 
17.63

 
18.74

 
 
48

 
893,218

 
1.8
%
 
1.9
%
 
10.55

 
10.87

 
 
612

 
1,552,237

 
8.1
%
 
8.3
%
 
21.70

 
23.27

 
 
2024
 
494

 
2,299,948

 
3.4
 
3.8
%
 
14.79

 
16.33

 
 
40

 
1,055,893

 
2.2
%
 
1.9
%
 
8.72

 
9.32

 
 
454

 
1,244,055

 
6.5
%
 
6.1
%
 
19.93

 
22.28

 
 
2025
 
306

 
2,063,708

 
3.0
 
3.1
%
 
13.45

 
14.85

 
 
52

 
1,350,354

 
2.8
%
 
2.6
%
 
9.22

 
10.13

 
 
254

 
713,354

 
3.7
%
 
3.8
%
 
21.45

 
23.80

 
 
2026
 
293

 
1,822,972

 
2.7
 
3.1
%
 
15.14

 
16.94

 
 
34

 
956,314

 
2.0
%
 
1.8
%
 
9.08

 
9.95

 
 
259

 
866,658

 
4.5
%
 
4.7
%
 
21.83

 
24.65

 
 
2027
 
323

 
2,139,486

 
3.1
 
3.6
%
 
15.17

 
17.19

 
 
59

 
1,348,509

 
2.8
%
 
3.1
%
 
11.06

 
12.03

 
 
264

 
790,977

 
4.1
%
 
4.3
%
 
22.18

 
25.98

 
 
2028
 
305

 
1,691,807

 
2.5
 
3.3
%
 
17.05

 
19.58

 
 
39

 
881,320

 
1.8
%
 
2.0
%
 
10.72

 
11.72

 
 
266

 
810,487

 
4.3
%
 
4.8
%
 
23.94

 
28.13

 
 
2029+
 
2,361

 
42,432,132

 
62.7
 
55.4
%
 
11.58

 
15.00

 
 
1,075

 
37,407,326

 
77.1
%
 
77.8
%
 
10.01

 
12.86

 
 
1,286

 
5,024,806

 
26.2
%
 
28.8
%
 
23.31

 
30.96

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(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 12/31/18
 
 
 
79.4%
 
80.9%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended December 31, 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
 
 
1

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

 
3,545,069

 
90.5
%
 
93.6
%
 
$
67,377

 
$
20.50

 
6.8
%
 
4.8
%
 
7.6
%
 
 
2

Los Angeles-Long Beach-Anaheim, CA
 
10

 
1,710,036

 
94.2
%
 
96.9
%
 
32,788

 
21.81

 
2.4
%
 
2.3
%
 
3.7
%
 
 
3

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

 
3,842,402

 
78.8
%
 
82.9
%
 
40,905

 
13.91

 
3.5
%
 
5.2
%
 
4.6
%
 
 
4

Dallas-Fort Worth-Arlington, TX
 
15

 
2,757,295

 
86.4
%
 
91.9
%
 
41,282

 
16.95

 
3.5
%
 
3.7
%
 
4.7
%
 
 
5

Houston-The Woodlands-Sugar Land, TX
 
31

 
4,123,284

 
87.6
%
 
93.1
%
 
45,100

 
12.34

 
7.3
%
 
5.6
%
 
5.1
%
 
 
6

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

 
451,260

 
96.9
%
 
97.1
%
 
4,971

 
11.34

 
0.7
%
 
0.6
%
 
0.6
%
 
 
7

Miami-Fort Lauderdale-West Palm Beach, FL
 
9

 
1,502,447

 
77.9
%
 
80.0
%
 
17,633

 
15.37

 
2.1
%
 
2.0
%
 
2.0
%
 
 
8

Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
23

 
4,039,355

 
91.9
%
 
95.1
%
 
57,926

 
17.32

 
5.4
%
 
5.5
%
 
6.5
%
 
 
9

Atlanta-Sandy Springs-Roswell, GA
 
23

 
3,561,019

 
90.5
%
 
92.1
%
 
37,151

 
11.67

 
5.4
%
 
4.8
%
 
4.2
%
 
 
10

Boston-Cambridge-Newton, MA-NH
 
6

 
712,668

 
93.5
%
 
94.7
%
 
8,615

 
12.82

 
1.4
%
 
1.0
%
 
1.0
%
 
 
 
Top 10 Largest US MSAs by Population
 
164

 
26,244,835

 
87.8
%
 
91.3
%
 
353,748

 
15.65

 
38.5
%
 
35.5
%
 
40.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11

Phoenix-Mesa-Scottsdale, AZ
 
1

 
119,525

 
86.1
%
 
86.1
%
 
1,326

 
12.88

 
0.2
%
 
0.2
%
 
0.1
%
 
 
12

San Francisco-Oakland-Hayward, CA
 
2

 
506,531

 
94.9
%
 
98.3
%
 
10,963

 
27.27

 
0.5
%
 
0.7
%
 
1.2
%
 
 
13

Riverside-San Bernardino-Ontario, CA
 
4

 
498,553

 
92.3
%
 
94.1
%
 
8,014

 
19.51

 
0.9
%
 
0.7
%
 
0.9
%
 
 
14

Detroit-Warren-Dearborn, MI
 
8

 
1,431,344

 
80.0
%
 
92.5
%
 
15,243

 
12.59

 
1.9
%
 
1.9
%
 
1.7
%
 
 
15

Seattle-Tacoma-Bellevue, WA
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
16

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

 
1,181,630

 
89.9
%
 
91.8
%
 
13,838

 
13.79

 
1.9
%
 
1.6
%
 
1.6
%
 
 
17

San Diego-Carlsbad, CA
 
3

 
647,616

 
93.5
%
 
98.7
%
 
13,859

 
22.17

 
0.7
%
 
0.9
%
 
1.6
%
 
 
18

Tampa-St. Petersburg-Clearwater, FL
 
13

 
1,997,669

 
89.2
%
 
92.1
%
 
25,454

 
15.08

 
3.1
%
 
2.7
%
 
2.9
%
 
 
19

Denver-Aurora-Lakewood, CO
 
5

 
1,197,905

 
87.0
%
 
90.0
%
 
14,538

 
13.98

 
1.2
%
 
1.6
%
 
1.6
%
 
 
20

Baltimore-Columbia-Towson, MD
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
 
Top 20 Largest US MSAs by Population
 
208

 
33,825,608

 
87.9
%
 
91.7
%
 
456,983

 
15.71

 
48.9
%
 
45.8
%
 
51.6
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
21

St. Louis, MO-IL
 
2

 
209,036

 
84.3
%
 
96.5
%
 
2,160

 
10.88

 
0.5
%
 
0.3
%
 
0.2
%
 
 
22

Charlotte-Concord-Gastonia, NC-SC
 
5

 
1,637,456

 
92.1
%
 
93.6
%
 
14,975

 
10.73

 
1.2
%
 
2.2
%
 
1.7
%
 
 
23

Orlando-Kissimmee-Sanford, FL
 
5

 
808,790

 
87.7
%
 
95.8
%
 
15,970

 
20.95

 
1.2
%
 
1.1
%
 
1.8
%
 
 
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
%
 
1,930

 
20.05

 
0.2
%
 
0.1
%
 
0.2
%
 
 
28

Las Vegas-Henderson-Paradise, NV
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
29

Cincinnati, OH-KY-IN
 
7

 
1,930,720

 
88.1
%
 
88.7
%
 
20,982

 
15.85

 
1.6
%
 
2.6
%
 
2.4
%
 
 
30

Kansas City, MO-KS
 
4

 
608,649

 
88.4
%
 
92.2
%
 
4,599

 
8.34

 
0.9
%
 
0.8
%
 
0.5
%
 
 
31

Austin-Round Rock, TX
 
1

 
163,712

 
76.2
%
 
97.0
%
 
1,825

 
11.49

 
0.2
%
 
0.2
%
 
0.2
%
 
 
32

Columbus, OH
 
3

 
435,069

 
88.1
%
 
88.1
%
 
3,686

 
10.13

 
0.7
%
 
0.6
%
 
0.4
%
 
 
33

Cleveland-Elyria, OH
 
3

 
908,546

 
96.1
%
 
97.2
%
 
10,345

 
11.71

 
0.7
%
 
1.2
%
 
1.2
%
 
 
34

Indianapolis-Carmel-Anderson, IN
 
4

 
905,523

 
84.7
%
 
86.0
%
 
7,697

 
9.92

 
0.9
%
 
1.2
%
 
0.9
%
 

Supplemental Disclosure - Three Months Ended December 31, 2018
Page 35
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

 
95.8
%
 
97.6
%
 
8,897

 
11.47

 
0.9
%
 
1.1
%
 
1.0
%
 
 
37

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

 
150,300

 
86.9
%
 
93.8
%
 
2,645

 
20.81

 
0.2
%
 
0.2
%
 
0.3
%
 
 
38

Providence-Warwick, RI-MA
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
39

Milwaukee-Waukesha-West Allis, WI
 
4

 
703,934

 
90.8
%
 
90.8
%
 
6,619

 
10.80

 
0.9
%
 
1.0
%
 
0.7
%
 
 
40

Jacksonville, FL
 
4

 
798,464

 
81.7
%
 
94.9
%
 
8,922

 
12.17

 
0.9
%
 
1.1
%
 
1.0
%
 
 
41

Oklahoma City, OK
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
42

Memphis, TN-MS-AR
 
1

 
659,193

 
83.9
%
 
90.3
%
 
8,713

 
14.91

 
0.2
%
 
0.9
%
 
1.0
%
 
 
43

Raleigh, NC
 
2

 
291,027

 
96.8
%
 
97.5
%
 
3,617

 
13.42

 
0.5
%
 
0.4
%
 
0.4
%
 
 
44

Richmond, VA
 
2

 
222,690

 
96.8
%
 
97.8
%
 
3,276

 
15.04

 
0.5
%
 
0.3
%
 
0.4
%
 
 
45

Louisville/Jefferson County, KY-IN
 
4

 
707,728

 
96.0
%
 
96.3
%
 
7,257

 
10.99

 
0.9
%
 
1.0
%
 
0.8
%
 
 
46

New Orleans-Metairie, LA
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
47

Hartford-West Hartford-East Hartford, CT
 
3

 
596,013

 
90.3
%
 
90.6
%
 
9,216

 
17.07

 
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
 
269

 
46,662,573

 
88.4
%
 
92.0
%
 
602,267

 
14.94

 
63.3
%
 
63.3
%
 
67.8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
MSAs Ranked 51 - 100 by Population
 
50

 
8,807,680

 
89.1
%
 
92.7
%
 
95,107

 
12.80

 
11.8
%
 
12.0
%
 
10.7
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other MSAs
 
106

 
18,202,871

 
87.9
%
 
91.4
%
 
190,369

 
12.52

 
24.9
%
 
24.7
%
 
21.5
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL
 
425

 
73,673,124

 
88.4
%
 
91.9
%
 
$
887,743

 
$
14.10

 
100.0
%
 
100.0
%
 
100.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




Supplemental Disclosure - Three Months Ended December 31, 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
 
 
1

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

 
3,545,069

 
90.5
 
93.6
 
$
67,377

 
$
20.50

 
6.8
 
4.8
 
7.6
 
 
2

Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
8
 
23

 
4,039,355

 
91.9
 
95.1
 
57,926

 
17.32

 
5.4
 
5.5
 
6.5
 
 
3

Houston-The Woodlands-Sugar Land, TX
 
5
 
31

 
4,123,284

 
87.6
 
93.1
 
45,100

 
12.34

 
7.3
 
5.6
 
5.1
 
 
4

Dallas-Fort Worth-Arlington, TX
 
4
 
15

 
2,757,295

 
86.4
 
91.9
 
41,282

 
16.95

 
3.5
 
3.7
 
4.7
 
 
5

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

 
3,842,402

 
78.8
 
82.9
 
40,905

 
13.91

 
3.5
 
5.2
 
4.6
 
 
6

Atlanta-Sandy Springs-Roswell, GA
 
9
 
23

 
3,561,019

 
90.5
 
92.1
 
37,151

 
11.67

 
5.4
 
4.8
 
4.2
 
 
7

Los Angeles-Long Beach-Anaheim, CA
 
2
 
10

 
1,710,036

 
94.2
 
96.9
 
32,788

 
21.81

 
2.4
 
2.3
 
3.7
 
 
8

Tampa-St. Petersburg-Clearwater, FL
 
18
 
13

 
1,997,669

 
89.2
 
92.1
 
25,454

 
15.08

 
3.1
 
2.7
 
2.9
 
 
9

Cincinnati, OH-KY-IN
 
29
 
7

 
1,930,720

 
88.1
 
88.7
 
20,982

 
15.85

 
1.6
 
2.6
 
2.4
 
 
10

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

 
1,502,447

 
77.9
 
80.0
 
17,633

 
15.37

 
2.1
 
2.0
 
2.0
 
 
 
10 Largest MSAs by ABR
 
—
 
175

 
29,009,296

 
87.7
 
91.0
 
386,598

 
15.77

 
41.1
 
39.2
 
43.7
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11

Orlando-Kissimmee-Sanford, FL
 
23
 
5

 
808,790

 
87.7
 
95.8
 
15,970

 
20.95

 
1.2
 
1.1
 
1.8
 
 
12

Detroit-Warren-Dearborn, MI
 
14
 
8

 
1,431,344

 
80.0
 
92.5
 
15,243

 
12.59

 
1.9
 
1.9
 
1.7
 
 
13

Charlotte-Concord-Gastonia, NC-SC
 
22
 
5

 
1,637,456

 
92.1
 
93.6
 
14,975

 
10.73

 
1.2
 
2.2
 
1.7
 
 
14

Denver-Aurora-Lakewood, CO
 
19
 
5

 
1,197,905

 
87.0
 
90.0
 
14,538

 
13.98

 
1.2
 
1.6
 
1.6
 
 
15

San Diego-Carlsbad, CA
 
17
 
3

 
647,616

 
93.5
 
98.7
 
13,859

 
22.17

 
0.7
 
0.9
 
1.6
 
 
16

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

 
1,181,630

 
89.9
 
91.8
 
13,838

 
13.79

 
1.9
 
1.6
 
1.6
 
 
17

Ann Arbor, MI
 
146
 
3

 
817,709

 
84.3
 
94.3
 
11,602

 
15.15

 
0.7
 
1.1
 
1.3
 
 
18

Naples-Immokalee-Marco Island, FL
 
144
 
4

 
778,064

 
79.7
 
81.1
 
11,336

 
18.46

 
0.9
 
1.1
 
1.3
 
 
19

San Francisco-Oakland-Hayward, CA
 
12
 
2

 
506,531

 
94.9
 
98.3
 
10,963

 
27.27

 
0.5
 
0.7
 
1.2
 
 
20

Binghamton, NY
 
192
 
4

 
753,407

 
98.6
 
98.6
 
10,449

 
14.06

 
0.9
 
1.0
 
1.2
 
 
 
20 Largest MSAs by ABR
 
—
 
222

 
38,769,748

 
87.8
 
91.5
 
519,371

 
15.70

 
52.2
 
52.4
 
58.7
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
21

Cleveland-Elyria, OH
 
33
 
3

 
908,546

 
96.1
 
97.2
 
10,345

 
11.71

 
0.7
 
1.2
 
1.2
 
 
22

Allentown-Bethlehem-Easton, PA-NJ
 
69
 
3

 
829,432

 
82.7
 
92.8
 
9,633

 
13.86

 
0.7
 
1.1
 
1.1
 
 
23

Hartford-West Hartford-East Hartford, CT
 
47
 
3

 
596,013

 
90.3
 
90.6
 
9,216

 
17.07

 
0.7
 
0.8
 
1.0
 
 
24

Jacksonville, FL
 
40
 
4

 
798,464

 
81.7
 
94.9
 
8,922

 
12.17

 
0.9
 
1.1
 
1.0
 
 
25

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

 
797,341

 
95.8
 
97.6
 
8,897

 
11.47

 
0.9
 
1.1
 
1.0
 
 
26

Memphis, TN-MS-AR
 
42
 
1

 
659,193

 
83.9
 
90.3
 
8,713

 
14.91

 
0.2
 
0.9
 
1.0
 
 
27

Boston-Cambridge-Newton, MA-NH
 
10
 
6

 
712,668

 
93.5
 
94.7
 
8,615

 
12.82

 
1.4
 
1.0
 
1.0
 
 
28

Vallejo-Fairfield, CA
 
121
 
1

 
519,223

 
85.4
 
86.6
 
8,497

 
19.18

 
0.2
 
0.7
 
1.0
 
 
29

Port St. Lucie, FL
 
111
 
5

 
636,693

 
86.4
 
89.0
 
8,318

 
14.80

 
1.2
 
0.9
 
0.9
 
 
30

Riverside-San Bernardino-Ontario, CA
 
13
 
4

 
498,553

 
92.3
 
94.1
 
8,014

 
19.51

 
0.9
 
0.7
 
0.9
 
 
31

North Port-Sarasota-Bradenton, FL
 
72
 
5

 
730,553

 
93.0
 
94.5
 
7,822

 
11.40

 
1.2
 
1.0
 
0.9
 
 
32

Indianapolis-Carmel-Anderson, IN
 
34
 
4

 
905,523

 
84.7
 
86.0
 
7,697

 
9.92

 
0.9
 
1.2
 
0.9
 
 
33

Louisville/Jefferson County, KY-IN
 
45
 
4

 
707,728

 
96.0
 
96.3
 
7,257

 
10.99

 
0.9
 
1.0
 
0.8
 
 
34

New Haven-Milford, CT
 
66
 
5

 
546,407

 
92.3
 
92.3
 
7,152

 
14.18

 
1.2
 
0.7
 
0.8
 

Supplemental Disclosure - Three Months Ended December 31, 2018
Page 37
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

Milwaukee-Waukesha-West Allis, WI
 
39
 
4

 
703,934

 
90.8
 
90.8
 
6,619

 
10.80

 
0.9
 
1.0
 
0.7
 
 
36

Norwich-New London, CT
 
182
 
2

 
433,532

 
90.4
 
90.7
 
6,489

 
16.65

 
0.5
 
0.6
 
0.7
 
 
37

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

 
620,309

 
95.8
 
95.8
 
5,588

 
22.34

 
0.5
 
0.8
 
0.6
 
 
38

Wilmington, NC
 
168
 
2

 
379,107

 
96.7
 
97.7
 
5,422

 
14.79

 
0.5
 
0.5
 
0.6
 
 
39

Worcester, MA-CT
 
58
 
3

 
517,810

 
83.3
 
83.7
 
5,371

 
15.03

 
0.7
 
0.7
 
0.6
 
 
40

College Station-Bryan, TX
 
189
 
4

 
491,463

 
87.3
 
87.3
 
5,368

 
15.30

 
0.9
 
0.7
 
0.6
 
 
41

Greensboro-High Point, NC
 
75
 
1

 
406,768

 
89.1
 
89.1
 
5,114

 
14.12

 
0.2
 
0.6
 
0.6
 
 
42

Winston-Salem, NC
 
83
 
3

 
437,761

 
90.8
 
91.4
 
5,083

 
13.33

 
0.7
 
0.6
 
0.6
 
 
43

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

 
451,260

 
96.9
 
97.1
 
4,971

 
11.34

 
0.7
 
0.6
 
0.6
 
 
44

Dayton, OH
 
73
 
2

 
351,898

 
98.2
 
98.2
 
4,617

 
13.93

 
0.5
 
0.5
 
0.5
 
 
45

Kansas City, MO-KS
 
30
 
4

 
608,649

 
88.4
 
92.2
 
4,599

 
8.34

 
0.9
 
0.8
 
0.5
 
 
46

Manchester-Nashua, NH
 
131
 
2

 
347,947

 
85.1
 
96.3
 
4,387

 
21.37

 
0.5
 
0.5
 
0.5
 
 
47

Boulder, CO
 
155
 
1

 
278,692

 
82.7
 
97.3
 
4,383

 
16.17

 
0.2
 
0.4
 
0.5
 
 
48

Oxnard-Thousand Oaks-Ventura, CA
 
67
 
2

 
320,648

 
96.1
 
96.1
 
4,311

 
14.50

 
0.5
 
0.4
 
0.5
 
 
49

Charleston-North Charleston, SC
 
74
 
2

 
496,571

 
90.6
 
91.7
 
4,183

 
9.25

 
0.5
 
0.7
 
0.5
 
 
50

Roanoke, VA
 
160
 
3

 
478,298

 
98.0
 
98.4
 
4,004

 
9.77

 
0.7
 
0.6
 
0.5
 
 
 
50 Largest MSAs by ABR
 
—
 
314

 
55,940,732

 
88.6
 
91.9
 
718,978

 
14.97

 
73.6
 
75.8
 
81.3
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
51

Spartanburg, SC
 
153
 
1

 
358,040

 
89.9
 
92.1
 
3,957

 
12.61

 
0.2
 
0.5
 
0.4
 
 
52

Mobile, AL
 
129
 
1

 
542,215

 
63.6
 
75.9
 
3,954

 
9.80

 
0.2
 
0.7
 
0.4
 
 
53

Pittsfield, MA
 
326
 
1

 
436,854

 
98.6
 
98.6
 
3,945

 
21.13

 
0.2
 
0.6
 
0.4
 
 
54

Fresno, CA
 
55
 
1

 
261,344

 
97.7
 
98.3
 
3,872

 
15.08

 
0.2
 
0.4
 
0.4
 
 
55

Columbus, OH
 
32
 
3

 
435,069

 
88.1
 
88.1
 
3,686

 
10.13

 
0.7
 
0.6
 
0.4
 
 
56

Greenville-Anderson-Mauldin, SC
 
61
 
2

 
220,723

 
95.9
 
98.3
 
3,620

 
17.10

 
0.5
 
0.3
 
0.4
 
 
57

Raleigh, NC
 
43
 
2

 
291,027

 
96.8
 
97.5
 
3,617

 
13.42

 
0.5
 
0.4
 
0.4
 
 
58

Bakersfield, CA
 
62
 
1

 
240,068

 
89.4
 
98.5
 
3,609

 
15.53

 
0.2
 
0.3
 
0.4
 
 
59

Panama City, FL
 
224
 
2

 
397,512

 
96.2
 
96.2
 
3,555

 
9.29

 
0.5
 
0.5
 
0.4
 
 
60

Saginaw, MI
 
229
 
2

 
428,740

 
93.9
 
94.2
 
3,407

 
12.04

 
0.5
 
0.6
 
0.4
 
 
61

Atlantic City-Hammonton, NJ
 
181
 
1

 
179,199

 
99.1
 
99.1
 
3,356

 
18.90

 
0.2
 
0.2
 
0.4
 
 
62

Richmond, VA
 
44
 
2

 
222,690

 
96.8
 
97.8
 
3,276

 
15.04

 
0.5
 
0.3
 
0.4
 
 
63

Odessa, TX
 
268
 
1

 
372,534

 
98.1
 
100.0
 
3,241

 
13.77

 
0.2
 
0.5
 
0.4
 
 
64

Hilton Head Island-Bluffton-Beaufort, SC
 
210
 
2

 
230,352

 
95.1
 
95.1
 
3,239

 
14.78

 
0.5
 
0.3
 
0.4
 
 
65

Des Moines-West Des Moines, IA
 
88
 
2

 
512,825

 
96.6
 
97.5
 
3,102

 
6.27

 
0.5
 
0.7
 
0.3
 
 
66

Greenville, NC
 
240
 
1

 
233,153

 
93.4
 
94.0
 
2,985

 
13.61

 
0.2
 
0.3
 
0.3
 
 
67

Springfield, MA
 
90
 
2

 
299,898

 
96.1
 
96.1
 
2,789

 
12.31

 
0.5
 
0.4
 
0.3
 
 
68

Blacksburg-Christiansburg-Radford, VA
 
233
 
1

 
181,055

 
100.0
 
100.0
 
2,745

 
15.42

 
0.2
 
0.2
 
0.3
 
 
69

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

 
150,300

 
86.9
 
93.8
 
2,645

 
20.81

 
0.2
 
0.2
 
0.3
 
 
70

Tullahoma-Manchester, TN
 
377
 
2

 
390,524

 
96.2
 
96.8
 
2,518

 
6.66

 
0.5
 
0.5
 
0.3
 

Supplemental Disclosure - Three Months Ended December 31, 2018
Page 38
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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

Bridgeport-Stamford-Norwalk, CT
 
57
 
1

 
161,075

 
88.0
 
88.0
 
2,463

 
17.38

 
0.2
 
0.2
 
0.3
 
 
72

Fort Wayne, IN
 
125
 
2

 
248,451

 
84.4
 
84.4
 
2,462

 
13.68

 
0.5
 
0.3
 
0.3
 
 
73

Merced, CA
 
178
 
1

 
153,721

 
93.1
 
96.3
 
2,390

 
16.71

 
0.2
 
0.2
 
0.3
 
 
74

Savannah, GA
 
137
 
2

 
224,181

 
73.7
 
75.5
 
2,288

 
13.52

 
0.5
 
0.3
 
0.3
 
 
75

Santa Maria-Santa Barbara, CA
 
119
 
1

 
179,549

 
86.9
 
100.0
 
2,224

 
13.35

 
0.2
 
0.2
 
0.3
 
 
76

Duluth, MN-WI
 
174
 
1

 
182,969

 
98.3
 
98.3
 
2,218

 
12.33

 
0.2
 
0.2
 
0.2
 
 
77

Hickory-Lenoir-Morganton, NC
 
147
 
2

 
284,984

 
74.5
 
85.7
 
2,178

 
8.91

 
0.5
 
0.4
 
0.2
 
 
78

St. Louis, MO-IL
 
21
 
2

 
209,036

 
84.3
 
96.5
 
2,160

 
10.88

 
0.5
 
0.3
 
0.2
 
 
79

Lancaster, PA
 
102
 
2

 
170,128

 
94.1
 
99.1
 
2,122

 
12.58

 
0.5
 
0.2
 
0.2
 
 
80

Concord, NH
 
285
 
1

 
182,887

 
100.0
 
100.0
 
2,060

 
11.53

 
0.2
 
0.2
 
0.2
 
 
81

Toledo, OH
 
92
 
1

 
315,515

 
80.8
 
80.8
 
2,031

 
13.64

 
0.2
 
0.4
 
0.2
 
 
82

Elkhart-Goshen, IN
 
221
 
1

 
250,448

 
87.8
 
97.5
 
2,006

 
14.89

 
0.2
 
0.3
 
0.2
 
 
83

Tucson, AZ
 
53
 
1

 
165,350

 
98.7
 
100.0
 
1,998

 
12.08

 
0.2
 
0.2
 
0.2
 
 
84

Altoona, PA
 
336
 
1

 
258,818

 
71.5
 
83.0
 
1,993

 
9.37

 
0.2
 
0.4
 
0.2
 
 
85

Rutland, VT
 
539
 
1

 
224,514

 
98.4
 
98.4
 
1,988

 
9.00

 
0.2
 
0.3
 
0.2
 
 
86

Dover, DE
 
244
 
1

 
191,974

 
81.9
 
81.9
 
1,982

 
13.64

 
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

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

 
103,695

 
92.8
 
92.8
 
1,930

 
20.05

 
0.2
 
0.1
 
0.2
 
 
89

Portland-South Portland, ME
 
105
 
1

 
287,513

 
90.7
 
90.7
 
1,900

 
20.55

 
0.2
 
0.4
 
0.2
 
 
90

Tulsa, OK
 
54
 
1

 
186,851

 
100.0
 
100.0
 
1,900

 
10.17

 
0.2
 
0.3
 
0.2
 
 
91

Manhattan, KS
 
395
 
1

 
215,261

 
93.1
 
95.5
 
1,875

 
14.61

 
0.2
 
0.3
 
0.2
 
 
92

Austin-Round Rock, TX
 
31
 
1

 
163,712

 
76.2
 
97.0
 
1,825

 
11.49

 
0.2
 
0.2
 
0.2
 
 
93

California-Lexington Park, MD
 
358
 
1

 
92,335

 
100.0
 
100.0
 
1,777

 
19.25

 
0.2
 
0.1
 
0.2
 
 
94

Flint, MI
 
132
 
1

 
162,059

 
83.2
 
83.2
 
1,770

 
13.24

 
0.2
 
0.2
 
0.2
 
 
95

Greeneville, TN
 
491
 
1

 
223,564

 
54.7
 
93.8
 
1,746

 
8.42

 
0.2
 
0.3
 
0.2
 
 
96

Ithaca, NY
 
372
 
1

 
204,830

 
85.0
 
85.0
 
1,719

 
9.88

 
0.2
 
0.3
 
0.2
 
 
97

Syracuse, NY
 
85
 
1

 
122,626

 
95.0
 
100.0
 
1,713

 
13.97

 
0.2
 
0.2
 
0.2
 
 
98

Crestview-Fort Walton Beach-Destin, FL
 
179
 
1

 
158,118

 
96.9
 
96.9
 
1,712

 
11.18

 
0.2
 
0.2
 
0.2
 
 
99

Columbus, IN
 
443
 
1

 
142,989

 
96.2
 
96.2
 
1,591

 
11.56

 
0.2
 
0.2
 
0.2
 
 
100

Talladega-Sylacauga, AL
 
418
 
1

 
231,820

 
98.2
 
98.2
 
1,570

 
6.90

 
0.2
 
0.3
 
0.2
 
 
 
100 Largest MSAs by ABR
 
—
 
380

 
68,222,906

 
88.8
 
92.2
 
845,640

 
14.51

 
89.4
 
92.6
 
95.3
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other MSAs
 
—
 
45

 
5,450,218

 
83.1
 
88.3
 
42,103

 
9.06

 
10.6
 
7.4
 
4.7
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL
 
—
 
425

 
73,673,124

 
88.4
 
91.9
 
$
887,743

 
$
14.10

 
100.0
 
100.0
 
100.0
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




Supplemental Disclosure - Three Months Ended December 31, 2018
Page 39
jpgstandardlogoa21.jpg




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

Florida
 
50

 
8,121,665

 
84.5
%
 
89.6
%
 
$
103,678

 
$
14.79

 
11.8
%
 
11.0
%
 
11.7
%
 
 
2

Texas
 
57

 
8,313,429

 
87.7
%
 
92.7
%
 
100,359

 
13.95

 
13.4
%
 
11.3
%
 
11.3
%
 
 
3

California
 
28

 
5,233,299

 
92.6
%
 
95.8
%
 
93,557

 
20.14

 
6.6
%
 
7.1
%
 
10.5
%
 
 
4

New York
 
29

 
3,687,730

 
92.8
%
 
95.5
%
 
66,613

 
19.39

 
6.8
%
 
5.0
%
 
7.5
%
 
 
5

Pennsylvania
 
27

 
4,913,096

 
90.2
%
 
94.5
%
 
61,814

 
16.04

 
6.4
%
 
6.7
%
 
7.0
%
 
 
6

Georgia
 
32

 
4,668,429

 
87.7
%
 
89.5
%
 
44,663

 
10.95

 
7.5
%
 
6.3
%
 
5.0
%
 
 
7

North Carolina
 
20

 
4,243,202

 
91.0
%
 
92.7
%
 
42,962

 
11.56

 
4.7
%
 
5.8
%
 
4.8
%
 
 
8

Illinois
 
18

 
4,106,268

 
79.7
%
 
83.5
%
 
42,464

 
13.35

 
4.2
%
 
5.6
%
 
4.8
%
 
 
9

New Jersey
 
16

 
2,837,986

 
90.9
%
 
93.1
%
 
40,319

 
16.28

 
3.8
%
 
3.9
%
 
4.5
%
 
 
10

Ohio
 
17

 
3,490,593

 
90.6
%
 
91.0
%
 
36,675

 
13.12

 
4.0
%
 
4.7
%
 
4.1
%
 
 
11

Michigan
 
17

 
3,235,219

 
83.7
%
 
92.0
%
 
35,626

 
13.07

 
4.0
%
 
4.4
%
 
4.0
%
 
 
12

Connecticut
 
12

 
1,862,523

 
89.8
%
 
90.5
%
 
26,479

 
15.75

 
2.8
%
 
2.5
%
 
3.0
%
 
 
13

Tennessee
 
10

 
2,252,108

 
86.4
%
 
94.8
%
 
23,573

 
11.14

 
2.4
%
 
3.1
%
 
2.7
%
 
 
14

Colorado
 
6

 
1,476,597

 
86.2
%
 
91.4
%
 
18,921

 
14.43

 
1.4
%
 
2.0
%
 
2.1
%
 
 
15

Massachusetts
 
10

 
1,725,536

 
92.8
%
 
93.4
%
 
18,883

 
15.35

 
2.4
%
 
2.3
%
 
2.1
%
 
 
16

Kentucky
 
8

 
1,856,913

 
89.2
%
 
91.7
%
 
17,638

 
11.50

 
1.9
%
 
2.5
%
 
2.0
%
 
 
17

Minnesota
 
9

 
1,364,599

 
91.0
%
 
92.7
%
 
16,056

 
13.57

 
2.1
%
 
1.9
%
 
1.8
%
 
 
18

Indiana
 
10

 
1,709,412

 
87.2
%
 
89.4
%
 
15,474

 
11.16

 
2.4
%
 
2.3
%
 
1.7
%
 
 
19

South Carolina
 
7

 
1,305,686

 
92.1
%
 
93.5
%
 
14,999

 
12.53

 
1.6
%
 
1.8
%
 
1.7
%
 
 
20

Virginia
 
9

 
1,355,467

 
93.9
%
 
94.9
%
 
14,986

 
12.40

 
2.1
%
 
1.8
%
 
1.7
%
 
 
21

New Hampshire
 
5

 
772,528

 
89.9
%
 
95.0
%
 
8,284

 
13.89

 
1.2
%
 
1.0
%
 
0.9
%
 
 
22

Wisconsin
 
4

 
703,934

 
90.8
%
 
90.8
%
 
6,619

 
10.80

 
0.9
%
 
1.0
%
 
0.7
%
 
 
23

Maryland
 
3

 
410,713

 
98.1
%
 
98.4
%
 
5,590

 
13.83

 
0.7
%
 
0.6
%
 
0.6
%
 
 
24

Alabama
 
2

 
774,035

 
73.9
%
 
82.6
%
 
5,524

 
8.75

 
0.5
%
 
1.1
%
 
0.6
%
 
 
25

Missouri
 
5

 
655,984

 
87.6
%
 
94.0
%
 
5,302

 
8.77

 
1.2
%
 
0.9
%
 
0.6
%
 
 
26

Kansas
 
2

 
376,962

 
90.4
%
 
93.1
%
 
3,332

 
12.16

 
0.5
%
 
0.5
%
 
0.4
%
 
 
27

Arizona
 
2

 
284,875

 
93.4
%
 
94.2
%
 
3,324

 
12.39

 
0.5
%
 
0.4
%
 
0.4
%
 
 
28

Iowa
 
2

 
512,825

 
96.6
%
 
97.5
%
 
3,102

 
6.27

 
0.5
%
 
0.7
%
 
0.3
%
 
 
29

West Virginia
 
2

 
251,500

 
96.0
%
 
96.0
%
 
2,066

 
8.56

 
0.5
%
 
0.3
%
 
0.2
%
 
 
30

Vermont
 
1

 
224,514

 
98.4
%
 
98.4
%
 
1,988

 
9.00

 
0.2
%
 
0.3
%
 
0.2
%
 
 
31

Delaware
 
1

 
191,974

 
81.9
%
 
81.9
%
 
1,982

 
13.64

 
0.2
%
 
0.3
%
 
0.2
%
 
 
32

Maine
 
1

 
287,513

 
90.7
%
 
90.7
%
 
1,900

 
20.55

 
0.2
%
 
0.4
%
 
0.2
%
 
 
33

Oklahoma
 
1

 
186,851

 
100.0
%
 
100.0
%
 
1,900

 
10.17

 
0.2
%
 
0.3
%
 
0.2
%
 
 
34

Louisiana
 
2

 
279,159

 
63.4
%
 
76.3
%
 
1,091

 
5.31

 
0.5
%
 
0.4
%
 
0.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL
 
425

 
73,673,124

 
88.4
%
 
91.9
%
 
$
887,743

 
$
14.10

 
100.0
%
 
100.0
%
 
100.0
%
 

Supplemental Disclosure - Three Months Ended December 31, 2018
Page 40
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
%
 
1,570

 
6.90

 
Walmart Supercenter
 
Burke's Outlet
 
-
3

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

 
86.1
%
 
1,326

 
12.88

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

 
Northmall Centre
 
Tucson
 
AZ
 
Tucson, AZ
 
1996
 
165,350

 
100.0
%
 
1,998

 
12.08

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

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

 
96.3
%
 
2,390

 
16.71

 
SuperTarget*, Walmart Supercenter*
 
Marshalls, Petco
 
-
6

 
Bakersfield Plaza
 
Bakersfield
 
CA
 
Bakersfield, CA
 
1970
 
240,068

 
98.5
%
 
3,609

 
15.53

 
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
%
 
2,389

 
20.25

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

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

 
98.0
%
 
1,264

 
19.09

 
Stater Bros.
 
-
 
-
9

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

 
70.8
%
 
1,980

 
21.99

 
-
 
Big Lots, Chuze Fitness
 
-
10

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

 
92.8
%
 
1,930

 
20.05

 
Trader Joe's
 
Forever 21, World Market
 
-
11

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

 
98.8
%
 
1,465

 
15.04

 
Vons (Albertsons)
 
Chuze Fitness
 
-
12

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

 
96.6
%
 
2,758

 
22.58

 
Major Market, Trader Joe's
 
Rite Aid
 
-
13

 
Arbor - Broadway Faire (2)
 
Fresno
 
CA
 
Fresno, CA
 
1995
 
261,344

 
98.3
%
 
3,872

 
15.08

 
Smart & Final Extra!
 
PetSmart, The Home Depot, United Artists Theatres
 
-
14

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

 
100.0
%
 
2,224

 
13.35

 
Vons (Albertsons)
 
Five Below, Harbor Freight Tools, Marshalls, Michaels, Ulta
 
-
15

 
Briggsmore Plaza
 
Modesto
 
CA
 
Modesto, CA
 
1998
 
92,315

 
79.9
%
 
1,100

 
16.01

 
Grocery Outlet
 
Sears Outlet
 
In Shape Fitness
16

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

 
99.6
%
 
5,781

 
20.97

 
Albertsons
 
Best Buy, CVS, Kohl's, Five Below, Ross Dress for Less
 
-
17

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

 
98.4
%
 
2,070

 
17.45

 
Barons Market
 
Crunch Fitness, Dollar Tree
 
-
18

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

 
100.0
%
 
2,176

 
10.73

 
Food 4 Less (Kroger)
 
Ross Dress for Less, Target
 
-
19

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

 
100.0
%
 
2,783

 
33.91

 
-
 
Kohl's, Party City
 
Walmart
20

 
Rose Pavilion (3)
 
Pleasanton
 
CA
 
San Francisco-Oakland-Hayward, CA
 
2019
 
328,958

 
97.4
%
 
8,180

 
25.57

 
99 Ranch Market, Trader Joe's
 
CVS, Golf Galaxy, Macy's Home Store, Total Wine & More
 
-
21

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

 
97.8
%
 
5,888

 
23.26

 
-
 
Marshalls, Michaels
 
-
22

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

 
95.8
%
 
4,758

 
29.21

 
Ralphs (Kroger), Trader Joe's
 
Crunch Fitness, CVS
 
-
23

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

 
98.2
%
 
750

 
17.19

 
Stater Bros.
 
-
 
-
24

 
Village at Mira Mesa (3)
 
San Diego
 
CA
 
San Diego-Carlsbad, CA
 
2019
 
422,520

 
99.4
%
 
9,636

 
23.76

 
Sprouts Farmers Market, Vons (Albertsons)
 
Bed Bath & Beyond, BevMo, CVS, Marshalls, Michaels, Mira Mesa Lanes
 
-
25

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

 
100.0
%
 
3,828

 
23.23

 
Smart & Final Extra!
 
Harbor Freight Tools, T.J.Maxx
 
Rite Aid
26

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

 
99.7
%
 
3,049

 
28.02

 
Trader Joe's
 
Big Lots, Petco, Rite Aid
 
-
27

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

 
100.0
%
 
3,543

 
23.82

 
El Super, Walmart Supercenter
 
LA Fitness, Ross Dress for Less
 
Target
28

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

 
95.9
%
 
1,922

 
10.72

 
Vons (Albertsons)
 
Ace Hardware, Big Lots
 
-
29

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

 
91.8
%
 
2,904

 
21.55

 
Stater Bros.
 
Rite Aid, Stein Mart
 
-
30

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

 
100.0
%
 
1,035

 
19.46

 
Ralphs (Kroger)
 
-
 
-
31

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

 
90.8
%
 
1,776

 
19.49

 
Sprouts Farmers Market
 
-
 
-
32

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

 
86.6
%
 
8,497

 
19.18

 
Costco*
 
Bed Bath & Beyond, Century Theatres, DSW, Marshalls, Michaels, OfficeMax, Party City, Petco, Ross Dress for Less, Ulta
 
Target
33

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

 
100.0
%
 
750

 
7.88

 
King Soopers (Kroger)
 
Arc
 
-
34

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

 
100.0
%
 
7,121

 
15.07

 
King Soopers (Kroger)
 
2nd & Charles, AMC Theatres, Big Lots, Burlington Stores, buybuy BABY, Kohl's, Planet Fitness, Stein Mart
 
-
35

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

 
100.0
%
 
1,749

 
10.14

 
King Soopers (Kroger)
 
Cinema Latino, Gen-X
 
-
36

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

 
91.2
%
 
1,627

 
14.73

 
-
 
Chuze Fitness
 
-
37

 
Superior Marketplace
 
Superior
 
CO
 
Boulder, CO
 
1997
 
278,692

 
97.3
%
 
4,383

 
16.17

 
Whole Foods Market, Costco*, SuperTarget*
 
Goldfish Swim School, Party City, Stickley Furniture, T.J.Maxx, Ulta
 
-
38

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

 
66.9
%
 
3,291

 
17.39

 
-
 
Barnes & Noble, David's Bridal, JOANN, Ross Dress for Less, Tile Shop, Ulta
 
-
39

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

 
92.4
%
 
2,541

 
25.85

 
Whole Foods Market
 
Petco
 
-

Supplemental Disclosure - Three Months Ended December 31, 2018
Page 41
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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

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

 
95.9
%
 
2,394

 
12.91

 
Super Stop & Shop (Ahold)
 
Kohl's
 
Walmart
41

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

 
97.5
%
 
971

 
13.76

 
PriceRite (Wakefern)
 
-
 
The Home Depot
42

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

 
85.9
%
 
4,162

 
14.27

 
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
43

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

 
100.0
%
 
592

 
10.90

 
-
 
Dollar Tree, Savers
 
-
44

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

 
100.0
%
 
2,513

 
16.77

 
Price Chopper
 
Dick's Sporting Goods
 
-
45

 
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
 
-
46

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

 
97.0
%
 
1,737

 
13.49

 
-
 
A.C. Moore, Christmas Tree Shops
 
-
47

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

 
88.0
%
 
2,463

 
17.38

 
-
 
LA Fitness, Marshalls
 
-
48

 
Torrington Plaza
 
Torrington
 
CT
 
Torrington, CT
 
1994
 
125,496

 
84.1
%
 
1,159

 
10.98

 
-
 
Eblens Outlet, JOANN, Staples, T.J.Maxx
 
-
49

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

 
82.4
%
 
2,070

 
13.73

 
Super Stop & Shop (Ahold)
 
Dollar Tree
 
Target
50

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

 
86.3
%
 
4,095

 
20.04

 
-
 
Dick’s Sporting Goods, DSW, Michaels, Party City, Ulta
 
Best Buy, Raymour & Flanigan
51

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

 
81.9
%
 
1,982

 
13.64

 
-
 
 Kirkland's, Party City, Staples, T.J.Maxx
 
-
52

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

 
93.7
%
 
3,652

 
18.09

 
-
 
Bed Bath & Beyond, Belk, Marshalls, Michaels, Office Depot, Petco, Sears, Ulta
 
-
53

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

 
93.3
%
 
6,330

 
22.54

 
Costco*, SuperTarget*
 
Burlington Stores, David's Bridal, Michaels, PetSmart, Ross Dress for Less
 
Lowe's
54

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

 
88.3
%
 
3,394

 
14.55

 
Publix
 
Big Lots, Off the Wall Trampoline, Planet Fitness
 
-
55

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

 
91.2
%
 
1,896

 
23.81

 
-
 
Broward County Library, CVS
 
-
56

 
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
 
-
57

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

 
96.9
%
 
1,712

 
11.18

 
Publix
 
Bealls Outlet, Books-A-Million, Office Depot, T.J.Maxx
 
-
58

 
Normandy Square
 
Jacksonville
 
FL
 
Jacksonville, FL
 
1996
 
89,822

 
100.0
%
 
848

 
9.72

 
Winn-Dixie (Southeastern Grocers)
 
Ace Hardware, Family Dollar
 
-
59

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

 
89.3
%
 
2,388

 
8.64

 
-
 
American Signature Furniture, Bealls Outlet, Books-A-Million, David's Bridal, Ollie's Bargain Outlet
 
-
60

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

 
100.0
%
 
1,976

 
18.11

 
-
 
Best Buy, David's Bridal, Restoration Hardware, Urban Air Trampoline & Adventure Park
 
-
61

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

 
96.6
%
 
1,680

 
17.71

 
-
 
LA Fitness
 
-
62

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

 
97.0
%
 
2,329

 
17.98

 
Walmart Neighborhood Market
 
Walgreens
 
-
63

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

 
93.0
%
 
1,871

 
11.38

 
Publix
 
Dollar Tree, Petco, Staples, Tuesday Morning, T.J.Maxx
 
-
64

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

 
76.5
%
 
1,775

 
21.11

 
Publix
 
-
 
-
65

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

 
68.6
%
 
2,891

 
15.73

 
Walmart Supercenter*
 
Citi Trends, Marshalls, Ross Dress for Less
 
The Home Depot
66

 
Miami Gardens
 
Miami
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
1996
 
256,719

 
50.9
%
 
2,261

 
17.29

 
Fresco y Más (Southeastern Grocers)
 
Ross Dress for Less
 
-
67

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

 
44.7
%
 
1,271

 
13.43

 
Publix
 
-
 
-
68

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

 
100.0
%
 
3,640

 
18.35

 
Publix
 
Marshalls, Office Depot, PGA TOUR Superstore
 
-
69

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

 
98.3
%
 
4,650

 
19.64

 
The Fresh Market
 
Big Lots, Burlington Stores, HomeGoods, Kirkland's, Party City, Saks OFF Fifth, Yard House
 
-
70

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

 
99.1
%
 
1,045

 
12.99

 
Publix
 
Zone Fitness Club
 
-
71

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

 
93.4
%
 
925

 
11.20

 
Sedano's
 
Family Dollar
 
-
72

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

 
100.0
%
 
2,446

 
17.34

 
-
 
Burlington Stores, LA Fitness
 
Target
73

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

 
100.0
%
 
1,066

 
13.97

 
Publix
 
-
 
-
74

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

 
89.6
%
 
1,067

 
16.26

 
Lucky's Market
 
-
 
-
75

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

 
94.4
%
 
9,711

 
25.25

 
-
 
Main Event, Regal Cinemas
 
-
76

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

 
95.7
%
 
750

 
12.15

 
Publix
 
-
 
-
77

 
Martin Downs Village Center
 
Palm City
 
FL
 
Port St. Lucie, FL
 
1987
 
162,884

 
95.8
%
 
2,880

 
18.96

 
-
 
Coastal Care, Walgreens
 
-

Supplemental Disclosure - Three Months Ended December 31, 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
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
78

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

 
91.0
%
 
1,180

 
13.12

 
Publix
 
-
 
-
79

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

 
98.0
%
 
2,375

 
8.12

 
Walmart Supercenter
 
Big Lots, Harbor Freight Tools, HomeGoods, T.J.Maxx
 
-
80

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

 
81.8
%
 
1,901

 
14.28

 
Publix
 
Fortis Institute, Walgreens
 
-
81

 
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
 
-
82

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

 
97.4
%
 
679

 
11.43

 
Winn-Dixie (Southeastern Grocers)
 
-
 
-
83

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

 
97.4
%
 
785

 
20.44

 
SuperTarget*
 
The Zoo Health Club
 
-
84

 
Beneva Village Shoppes (3)
 
Sarasota
 
FL
 
North Port-Sarasota-Bradenton, FL
 
2019
 
140,075

 
96.8
%
 
1,808

 
13.34

 
Publix
 
Harbor Freight Tools, Pet Supermarket, Walgreens
 
-
85

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

 
100.0
%
 
2,059

 
12.19

 
Publix
 
Big Lots, Crunch Fitness, HomeGoods
 
-
86

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

 
82.4
%
 
1,449

 
13.43

 
Publix
 
Planet Fitness
 
-
87

 
Seminole Plaza (3)
 
Seminole
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
2019
 
156,579

 
95.8
%
 
1,246

 
8.31

 
Sprouts Farmers Market
 
Bealls Outlet, Burlington Stores, T.J.Maxx
 
-
88

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

 
98.0
%
 
3,710

 
14.26

 
Publix
 
Bealls, Bed Bath & Beyond, Michaels, Party City, Petco
 
-
89

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

 
77.3
%
 
1,953

 
18.54

 
Publix
 
CVS, Dollar Tree
 
-
90

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

 
98.3
%
 
1,629

 
17.30

 
Publix
 
Bealls Outlet, Pet Supermarket
 
-
91

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

 
97.6
%
 
1,325

 
9.08

 
Winn-Dixie (Southeastern Grocers)
 
Bealls Outlet, Big Lots
 
-
92

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

 
77.5
%
 
743

 
8.97

 
-
 
Dollar Tree
 
-
93

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

 
83.5
%
 
1,705

 
10.09

 
Winn-Dixie (Southeastern Grocers)
 
Big Lots, Chuck E. Cheese’s
 
-
94

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

 
82.9
%
 
1,612

 
12.85

 
Publix
 
Family Dollar, Flooring USA
 
-
95

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

 
95.1
%
 
1,281

 
12.23

 
Patel Brothers
 
Dollar Tree, LA Fitness
 
Walmart
96

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

 
90.9
%
 
1,468

 
17.37

 
Publix
 
Rarehues
 
-
97

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

 
100.0
%
 
1,408

 
15.66

 
-
 
Deal$, Ross Dress for Less, Lumber Liquidators
 
-
98

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

 
98.6
%
 
2,271

 
15.79

 
Publix
 
Petco, T.J.Maxx, Ulta
 
-
99

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

 
97.5
%
 
948

 
7.35

 
Winn-Dixie (Southeastern Grocers)
 
Lumber Liquidators, Pet Supermarket, T.J.Maxx
 
-
100

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

 
87.1
%
 
625

 
6.54

 
Publix
 
Bealls Outlet
 
-
101

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

 
89.8
%
 
2,382

 
15.15

 
Publix
 
JOANN, Planet Fitness
 
-
102

 
Albany Plaza
 
Albany
 
GA
 
Albany, GA
 
1995
 
114,169

 
73.7
%
 
582

 
6.92

 
Harveys (Southeastern Grocers)
 
Big Lots, OK Beauty & Fashions Outlet
 
-
103

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

 
96.2
%
 
5,142

 
20.20

 
-
 
AMC Theatres, Barnes & Noble, DSW, Macy's Furniture Gallery, REI, T.J.Maxx
 
-
104

 
Perlis Plaza
 
Americus
 
GA
 
Americus, GA
 
1972
 
165,315

 
83.1
%
 
833

 
6.06

 
-
 
Belk, Roses
 
-
105

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

 
93.0
%
 
4,736

 
11.67

 
City Farmers Market
 
dd's Discounts (Ross), NCG Cinemas
 
-
106

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

 
73.4
%
 
1,151

 
7.55

 
-
 
At Home, Dollar Tree
 
-
107

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

 
100.0
%
 
543

 
8.20

 
Food Depot
 
Family Dollar
 
-
108

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

 
93.9
%
 
1,099

 
14.81

 
Publix
 
-
 
-
109

 
Cedar Plaza
 
Cedartown
 
GA
 
Cedartown, GA
 
1994
 
83,300

 
100.0
%
 
708

 
8.50

 
Kroger
 
Planet Fitness
 
-
110

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

 
99.1
%
 
2,280

 
13.43

 
Walmart Supercenter*
 
JOANN, PetSmart, Value Village
 
The Home Depot
111

 
Cordele Square
 
Cordele
 
GA
 
Cordele, GA
 
2002
 
127,953

 
85.4
%
 
745

 
6.82

 
Harveys (Southeastern Grocers)
 
Belk, Citi Trends, Cordele Theatres
 
-
112

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

 
95.4
%
 
1,137

 
6.81

 
Ingles
 
Kmart
 
-
113

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

 
98.1
%
 
793

 
12.02

 
Publix
 
-
 
-
114

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

 
87.0
%
 
1,109

 
13.43

 
Kroger
 
-
 
-
115

 
Northside
 
Dalton
 
GA
 
Dalton, GA
 
2001
 
73,931

 
97.3
%
 
609

 
8.47

 
Food City
 
Family Dollar
 
-
116

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

 
90.8
%
 
783

 
11.09

 
Publix
 
-
 
-
117

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

 
86.8
%
 
746

 
18.49

 
Kroger*
 
-
 
-
118

 
Westgate
 
Dublin
 
GA
 
Dublin, GA
 
2004
 
110,738

 
83.9
%
 
596

 
6.68

 
-
 
Big Lots
 
The Home Depot

Supplemental Disclosure - Three Months Ended December 31, 2018
Page 43
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

 
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
 
-
120

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

 
77.6
%
 
1,169

 
10.07

 
Food Depot
 
Cinemark, Staples
 
-
121

 
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
 
-
122

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

 
98.8
%
 
1,374

 
14.34

 
Publix
 
-
 
-
123

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

 
88.6
%
 
1,306

 
13.93

 
Publix
 
-
 
-
124

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

 
53.5
%
 
931

 
7.60

 
-
 
Dollar Tree, Ollie's Bargain Outlet, Planet Fitness
 
-
125

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

 
100.0
%
 
588

 
10.70

 
-
 
Marshalls
 
-
126

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

 
92.4
%
 
1,118

 
10.70

 
Kroger
 
-
 
-
127

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

 
91.1
%
 
1,882

 
13.40

 
Kroger
 
Kayhill's Sports Bar and Grill
 
-
128

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

 
92.1
%
 
569

 
8.85

 
Food Depot
 
-
 
-
129

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

 
97.1
%
 
998

 
11.00

 
-
 
PGA TOUR Superstore
 
-
130

 
Victory Square
 
Savannah
 
GA
 
Savannah, GA
 
2007
 
122,719

 
62.8
%
 
1,324

 
17.18

 
SuperTarget*
 
Citi Trends, Dollar Tree, Staples
 
The Home Depot
131

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

 
98.4
%
 
2,940

 
15.88

 
Kroger
 
-
 
-
132

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

 
99.1
%
 
1,846

 
5.37

 
Walmart Supercenter
 
Hobby Lobby, NCG Cinemas
 
-
133

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

 
90.8
%
 
964

 
10.46

 
Kroger
 
-
 
-
134

 
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
 
-
135

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

 
95.7
%
 
1,595

 
6.18

 
Price Chopper
 
Aspen Athletic Clubs, Big Lots, Northern Tool + Equipment, Office Depot
 
-
136

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

 
98.2
%
 
3,450

 
17.61

 
Trader Joe's
 
Binny's Beverage Depot, Chuck E. Cheese's, Kirkland's, Petco, Ulta
 
-
137

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

 
92.1
%
 
2,001

 
14.33

 
-
 
XSport Fitness
 
Kohl's
138

 
Bartonville Square
 
Bartonville
 
IL
 
Peoria, IL
 
2001
 
61,678

 
87.2
%
 
269

 
5.34

 
Kroger
 
-
 
-
139

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

 
88.7
%
 
2,100

 
11.94

 
Shop & Save Market
 
Hobby Lobby, Octapharma, Walgreens
 
-
140

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

 
93.1
%
 
4,189

 
14.95

 
-
 
Marshalls, The Home Depot, Ross Dress for Less, XSport Fitness
 
-
141

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

 
79.5
%
 
5,537

 
15.15

 
-
 
AMC Theatres, Best Buy, Five Below, Party City, PetSmart, Planet Fitness, Ross Dress for Less, T.J.Maxx
 
-
142

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

 
87.6
%
 
2,520

 
10.54

 
Jewel-Osco (Albertsons)
 
Burlington Stores
 
Hobby Lobby
143

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

 
74.4
%
 
947

 
24.87

 
-
 
Walgreens
 
-
144

 
Freeport Plaza
 
Freeport
 
IL
 
Freeport, IL
 
2000
 
87,846

 
88.3
%
 
539

 
6.95

 
Cub Foods (United Natural Foods Inc.)
 
-
 
-
145

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

 
87.3
%
 
2,812

 
10.55

 
Tony's Finer Foods
 
Amber's Furniture, Big Lots, LA Fitness, Sears Outlet
 
Value City
146

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

 
82.1
%
 
2,111

 
15.17

 
-
 
Best Buy, PetSmart, Stein Mart
 
-
147

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

 
95.5
%
 
1,604

 
15.75

 
Sunset Foods
 
-
 
-
148

 
High Point Centre (3)
 
Lombard
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2019
 
245,497

 
50.2
%
 
1,147

 
10.81

 
-
 
David's Bridal, JOANN, LA Fitness
 
-
149

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

 
94.9
%
 
1,746

 
16.40

 
Jewel-Osco
 
Planet Fitness
 
-
150

 
Westridge Court (2)
 
Naperville
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1992
 
682,766

 
79.1
%
 
6,780

 
13.18

 
-
 
Art Van Furniture, Big Lots, buybuy BABY, Cost Plus World Market, Marshalls, Old Navy, Party City, Star Cinema Grill, Ulta
 
-
151

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

 
96.3
%
 
2,038

 
18.02

 
-
 
LA Fitness, Regal Cinemas
 
-
152

 
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
 
-
153

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

 
67.2
%
 
1,923

 
12.15

 
Walt's Fine Foods
 
Planet Fitness, Tile Shop
 
-
154

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

 
91.4
%
 
1,132

 
9.47

 
-
 
Godby Home Furnishings, Ollie's Bargain Outlet
 
-
155

 
Columbus Center
 
Columbus
 
IN
 
Columbus, IN
 
1964
 
142,989

 
96.2
%
 
1,591

 
11.56

 
-
 
Big Lots, Five Below, OfficeMax, Pet Supplies Plus, T.J.Maxx, Ulta
 
Target
156

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

 
91.2
%
 
1,894

 
17.66

 
Walmart Supercenter*
 
Best Buy, Dick's Sporting Goods, PetSmart
 
Kohl's
157

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

 
97.5
%
 
2,006

 
14.89

 
Walmart Supercenter*
 
JOANN, Staples
 
-
158

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

 
81.4
%
 
750

 
8.61

 
Kroger
 
-
 
-

Supplemental Disclosure - Three Months Ended December 31, 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
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
159

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

 
100.0
%
 
696

 
9.72

 
Save-A-Lot
 
Citi Trends
 
-
160

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

 
90.0
%
 
383

 
14.20

 
Walmart Supercenter*
 
Aaron's
 
-
161

 
Lincoln Plaza
 
New Haven
 
IN
 
Fort Wayne, IN
 
1968
 
98,288

 
74.0
%
 
568

 
7.81

 
Kroger
 
-
 
-
162

 
Speedway Super Center
 
Speedway
 
IN
 
Indianapolis-Carmel-Anderson, IN
 
2018
 
596,072

 
83.9
%
 
5,119

 
10.29

 
Kroger
 
Burlington Stores, Kohl's, Oak Street Health Center, Petco, Ross Dress for Less, Sears Outlet, T.J.Maxx
 
-
163

 
Sagamore Park Centre
 
West Lafayette
 
IN
 
Lafayette-West Lafayette, IN
 
2018
 
132,027

 
100.0
%
 
1,335

 
10.11

 
Pay Less (Kroger)
 
-
 
-
164

 
Westchester Square
 
Lenexa
 
KS
 
Kansas City, MO-KS
 
1987
 
161,701

 
90.1
%
 
1,457

 
10.01

 
Hy-Vee
 
-
 
-
165

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

 
95.5
%
 
1,875

 
14.61

 
Dillons (Kroger)
 
Bellus Academy, JOANN, Marshalls
 
-
166

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

 
100.0
%
 
1,057

 
8.10

 
-
 
At Home, Staples
 
-
167

 
Florence Plaza - Florence Square (2)
 
Florence
 
KY
 
Cincinnati, OH-KY-IN
 
2014
 
686,526

 
91.0
%
 
7,079

 
14.81

 
Kroger
 
Barnes & Noble, Burlington Stores, David's Bridal, Five Below, Harbor Freight Tools, Hobby Lobby, Home Goods, Old Navy, Ollie's Bargain Outlet, Staples, T.J.Maxx
 
-
168

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

 
95.2
%
 
1,841

 
9.77

 
-
 
King Pin Lanes, Louisville Athletic Club
 
-
169

 
London Marketplace
 
London
 
KY
 
London, KY
 
1994
 
169,032

 
65.4
%
 
973

 
8.80

 
Kroger
 
Goody's, Kohl's
 
-
170

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

 
100.0
%
 
2,002

 
11.44

 
Kroger
 
Petco
 
-
171

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

 
93.7
%
 
1,551

 
10.82

 
Kroger
 
Annie's Attic
 
-
172

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

 
96.5
%
 
1,863

 
12.15

 
Kroger Marketplace
 
-
 
-
173

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

 
94.9
%
 
1,272

 
8.22

 
-
 
Big Lots, Books-A-Million, Office Depot
 
-
174

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

 
88.4
%
 
314

 
3.55

 
Super 1 Foods
 
dd's Discounts (Ross)
 
-
175

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

 
69.6
%
 
777

 
6.64

 
Super 1 Foods
 
Ollie's Bargain Outlet
 
-
176

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

 
97.6
%
 
951

 
7.46

 
PriceRite (Wakefern)
 
Citi Trends, L&M Bargain, Ocean State Job Lot
 
-
177

 
Burlington Square I, II & III
 
Burlington
 
MA
 
Boston-Cambridge-Newton, MA-NH
 
1992
 
79,559

 
100.0
%
 
2,307

 
29.00

 
-
 
Golf Galaxy, Pyara Aveda Spa & Salon, Staples
 
Duluth Trading Co.
178

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

 
96.2
%
 
1,603

 
12.35

 
Super Stop & Shop (Ahold)
 
JOANN, Ocean State Job Lot
 
-
179

 
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
 
-
180

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

 
60.8
%
 
237

 
15.28

 
Hannaford Bros. (Delhaize)*
 
-
 
Walmart
181

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

 
100.0
%
 
1,294

 
16.58

 
Shaw's (Albertsons)
 
Rainbow
 
-
182

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

 
95.5
%
 
2,226

 
12.76

 
Star Market (Albertsons)
 
Marshalls, Ocean State Job Lot
 
-
183

 
Berkshire Crossing
 
Pittsfield
 
MA
 
Pittsfield, MA
 
1994
 
436,854

 
98.6
%
 
3,945

 
21.13

 
Market 32
 
Barnes & Noble, Michaels, Staples, The Home Depot, Ulta, Walmart
 
-
184

 
Westgate Plaza
 
Westfield
 
MA
 
Springfield, MA
 
1996
 
103,903

 
96.0
%
 
1,186

 
12.26

 
-
 
Ocean State Job Lot, Staples, T.J.Maxx
 
-
185

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

 
67.0
%
 
1,912

 
27.98

 
Super Stop & Shop (Ahold)
 
Citi Trends
 
-
186

 
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
 
-
187

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

 
100.0
%
 
781

 
30.59

 
-
 
-
 
-
188

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

 
97.8
%
 
3,032

 
10.59

 
Giant Food (Ahold)
 
JOANN, Kmart, Peebles
 
-
189

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

 
90.7
%
 
1,900

 
20.55

 
-
 
Big Lots, Dollar Tree, JOANN, Lowe's
 
-
190

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

 
96.4
%
 
6,587

 
17.17

 
Kroger
 
Bed Bath & Beyond, DSW, Gardner White Furniture, Marshalls, Michaels, Nordstrom Rack, Ulta
 
-
191

 
Maple Village (3)
 
Ann Arbor
 
MI
 
Ann Arbor, MI
 
2019
 
290,467

 
90.7
%
 
4,157

 
15.78

 
Plum Market
 
Dunham's Sports, HomeGoods, LA Fitness, Sierra Trading Post, Stein Mart, Ulta
 
-
192

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

 
100.0
%
 
1,011

 
11.84

 
Busch’s Fresh Food Market
 
Ace Hardware
 
-
193

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

 
100.0
%
 
825

 
10.43

 
-
 
Dollar Tree, Ollie's Bargain Outlet, True Value
 
-
194

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

 
83.2
%
 
1,770

 
13.24

 
VG's Food (SpartanNash)
 
Dunham's Sports, Glik's
 
-
195

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

 
78.4
%
 
592

 
7.58

 
D&W Fresh Market (SpartanNash)
 
-
 
-
196

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

 
84.6
%
 
1,442

 
9.15

 
-
 
Bed Bath & Beyond, DXL Destination XL, Hobby Lobby, Planet Fitness
 
-
197

 
Lakes Crossing
 
Muskegon
 
MI
 
Muskegon, MI
 
2008
 
109,592

 
96.3
%
 
1,570

 
16.10

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

Supplemental Disclosure - Three Months Ended December 31, 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
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
198

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

 
79.7
%
 
2,228

 
10.25

 
Prince Valley Market
 
Burlington Stores, Citi Trends, Dollar Tree
 
-
199

 
Hampton Village Centre
 
Rochester Hills
 
MI
 
Detroit-Warren-Dearborn, MI
2004
 
464,931

 
99.2
%
 
6,646

 
18.76

 
-
 
Best Buy, DSW, Emagine Theatre, Kohl's, Old Navy, Petco, T.J.Maxx, Ulta
 
Target
200

 
Fashion Corners
 
Saginaw
 
MI
 
Saginaw, MI
2004
 
184,735

 
100.0
%
 
1,892

 
10.24

 
-
 
Bed Bath & Beyond, Best Buy, Dunham's Sports, Guitar Center, Harbor Freight Tools
 
-
201

 
Green Acres
 
Saginaw
 
MI
 
Saginaw, MI
 
2018
 
244,005

 
89.9
%
 
1,515

 
15.41

 
Kroger
 
Planet Fitness, Rite Aid
 
-
202

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

 
93.8
%
 
1,110

 
11.63

 
-
 
Party City, Planet Fitness
 
Burlington Stores
203

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

 
100.0
%
 
985

 
9.70

 
Dream Market
 
O'Reilly Auto Parts, Planet Fitness, Redline Athletics
 
-
204

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

 
100.0
%
 
1,095

 
7.07

 
-
 
Amish Direct Furniture, Bed Bath & Beyond, Dunham's Mega Sports, Urban Air Trampoline & Adventure Park
 
-
205

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

 
75.3
%
 
1,343

 
10.96

 
-
 
Bed Bath & Beyond, Crunch Fitness, Party City, Petco
 
Burlington Stores, Target
206

 
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
 
-
207

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

 
97.7
%
 
2,149

 
17.60

 
SuperTarget*
 
Best Buy, Dollar Tree, Walgreens
 
-
208

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

 
98.3
%
 
2,218

 
12.33

 
-
 
Best Buy, David's Bridal, Dunham's Sports, JOANN, T.J.Maxx
 
-
209

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

 
86.9
%
 
1,980

 
11.11

 
Cub Foods (Jerry's Foods)
 
OfficeMax
 
-
210

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

 
100.0
%
 
1,591

 
18.07

 
Cub Foods (United Natural Foods Inc.)*
 
-
 
-
211

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

 
87.9
%
 
2,144

 
11.43

 
-
 
Marshalls, Michaels
 
-
212

 
Roseville Center (3)
 
Roseville
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
2019
 
71,379

 
87.8
%
 
874

 
18.68

 
ALDI, Cub Foods (Jerry's Foods)*
 
Dollar Tree
 
-
213

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

 
98.2
%
 
1,826

 
16.23

 
Fresh Thyme Farmers Market
 
Marshalls
 
-
214

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

 
91.7
%
 
2,491

 
12.38

 
Cub Foods (United Natural Foods Inc.)
 
Planet Fitness, T.J.Maxx, Valu Thrift Store
 
-
215

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

 
91.7
%
 
783

 
11.68

 
Festival Foods
 
Dollar Tree
 
-
216

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

 
98.0
%
 
1,729

 
13.15

 
ALDI
 
Michaels, Party City, Petco, Tuesday Morning
 
-
217

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

 
87.8
%
 
771

 
5.87

 
Price Chopper
 
-
 
-
218

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

 
99.2
%
 
1,393

 
8.69

 
Price Chopper
 
Ace Hardware
 
-
219

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

 
91.4
%
 
978

 
8.58

 
Price Chopper
 
-
 
-
220

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

 
93.6
%
 
431

 
6.43

 
Shcnuck's
 
-
 
-
221

 
Devonshire Place
 
Cary
 
NC
 
Raleigh, NC
 
1996
 
106,680

 
100.0
%
 
1,572

 
15.05

 
-
 
Burlington Stores, Dollar Tree, Harbor Freight Tools, REI
 
-
222

 
McMullen Creek Market
 
Charlotte
 
NC
 
Charlotte-Concord-Gastonia, NC-SC
 
1988
 
281,533

 
91.5
%
 
3,624

 
14.07

 
Walmart Neighborhood Market
 
Burlington Stores, Dollar Tree, Staples
 
-
223

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

 
91.4
%
 
1,897

 
8.91

 
Patel Brothers
 
Big Lots, Gabriel Brothers, The Home Depot, Value City Furniture
 
-
224

 
Macon Plaza
 
Franklin
 
NC
 
-
 
2001
 
92,787

 
100.0
%
 
540

 
10.67

 
BI-LO (Southeastern Grocers)
 
Peebles
 
-
225

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

 
96.1
%
 
2,045

 
12.38

 
-
 
Burn Boot Camp, Citi Trends, OfficeMax, PetSmart
 
Target, The Home Depot
226

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

 
84.5
%
 
3,204

 
13.47

 
Walmart Supercenter
 
Best Buy, Burke's Outlet, Dollar Tree, Five Below, Michaels, Ross Dress for Less
 
-
227

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

 
89.1
%
 
5,114

 
14.12

 
-
 
Christmas Tree Shops, Dick's Sporting Goods, Kohl's, Michaels, Old Navy, PetSmart, Rainbow, Ross Dress for Less
 
Target
228

 
University Commons
 
Greenville
 
NC
 
Greenville, NC
 
1996
 
233,153

 
94.0
%
 
2,985

 
13.61

 
Harris Teeter (Kroger)
 
A.C. Moore, Barnes & Noble, Petco, T.J.Maxx
 
Target
229

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

 
91.1
%
 
1,668

 
9.56

 
-
 
Academy Sports + Outdoors, Dollar Tree, Harbor Freight Tools, Ollie's Bargain Outlet
 
-
230

 
Kinston Pointe
 
Kinston
 
NC
 
Kinston, NC
 
2001
 
250,580

 
100.0
%
 
1,079

 
4.31

 
Walmart Supercenter
 
Dollar Tree
 
-
231

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

 
74.8
%
 
510

 
7.29

 
-
 
Big Lots, Harbor Freight Tools
 
-
232

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

 
93.8
%
 
1,396

 
15.30

 
-
 
Person County Health & Human Services
 
-
233

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

 
100.0
%
 
4,050

 
11.59

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

Supplemental Disclosure - Three Months Ended December 31, 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
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
234

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

 
99.4
%
 
2,200

 
6.51

 
Walmart Supercenter
 
Big Lots, Burkes Outlet, Tractor Supply
 
-
235

 
Anson Station
 
Wadesboro
 
NC
 
-
 
1988
 
132,353

 
64.2
%
 
573

 
6.75

 
-
 
Peebles, Tractor Supply Co.
 
-
236

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

 
94.0
%
 
1,766

 
13.45

 
-
 
OfficeMax, PetSmart, Sportsmans Warehouse
 
Target
237

 
University Commons
 
Wilmington
 
NC
 
Wilmington, NC
 
2007
 
235,345

 
100.0
%
 
3,656

 
15.54

 
Lowes Foods
 
A.C. Moore, HomeGoods, T.J.Maxx
 
-
238

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

 
96.6
%
 
1,179

 
14.74

 
Harris Teeter (Kroger)
 
-
 
-
239

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

 
89.0
%
 
2,919

 
12.55

 
Super Compare Foods
 
Citi Trends, Modern Home, Office Depot
 
-
240

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

 
94.8
%
 
985

 
14.37

 
-
 
Golf Galaxy, Mattress Firm, OfficeMax
 
-
241

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

 
94.7
%
 
2,050

 
23.80

 
-
 
Bed Bath & Beyond, Boston Interiors, Walmart
 
-
242

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

 
100.0
%
 
2,060

 
11.53

 
Market Basket (DeMoulas Supermarkets)
 
Burlington Stores, JOANN, Marshalls
 
-
243

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

 
99.0
%
 
2,337

 
19.62

 
-
 
JC Penney, New Hampshire Liquor and Wine Outlet, Petco
 
The Home Depot
244

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

 
74.7
%
 
398

 
6.08

 
-
 
JOANN, NH1 MotorPlex
 
Cardi's Furniture, Ocean State Job Lot
245

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

 
98.0
%
 
1,439

 
9.79

 
Market Basket (DeMoulas Supermarkets)
 
T.J.Maxx
 
-
246

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

 
65.7
%
 
1,136

 
7.63

 
-
 
At Home, Planet Fitness
 
-
247

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

 
96.8
%
 
4,542

 
23.13

 
ShopRite
 
Burlington Stores, Planet Fitness, Ross Dress For Less
 
-
248

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

 
100.0
%
 
1,422

 
26.93

 
Acme (Albertsons)
 
-
 
-
249

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

 
96.4
%
 
2,198

 
9.11

 
-
 
Kmart, LA Fitness, Staples
 
-
250

 
Hamilton Plaza
 
Hamilton
 
NJ
 
Trenton, NJ
 
1972
 
150,919

 
100.0
%
 
1,370

 
9.08

 
-
 
Hibachi Grill & Supreme Buffet, Kmart, Planet Fitness, Urban Air Trampoline & Adventure Park
 
-
251

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

 
89.8
%
 
1,505

 
13.17

 
Super Stop & Shop (Ahold)
 
-
 
-
252

 
Marlton Crossing (3)
 
Marlton
 
NJ
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
2019
 
332,196

 
99.0
%
 
6,325

 
19.23

 
Sprouts Farmers Market
 
Burlington Stores, DSW, HomeGoods, Michaels, T.J. Maxx
 
-
253

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

 
91.0
%
 
3,650

 
20.65

 
ShopRite
 
Petco, Rite Aid
 
-
254

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

 
86.1
%
 
1,101

 
32.17

 
ShopRite
 
-
 
-
255

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

 
100.0
%
 
3,843

 
15.61

 
Bhavani Food Market
 
Marshalls, Modell's Sporting Goods, Pep Boys, Petco, Robert Wood Johnson Fitness
 
-
256

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

 
100.0
%
 
3,073

 
19.26

 
-
 
Blink Fitness (Equinox), Cinepolis, HomeGoods, Marshalls
 
-
257

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

 
96.7
%
 
1,539

 
11.35

 
ShopRite*
 
Peebles, PetSmart, Planet Fitness
 
-
258

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

 
99.1
%
 
3,356

 
18.90

 
ShopRite
 
Pier 1 Imports, Staples
 
-
259

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

 
100.0
%
 
654

 
18.06

 
ShopRite
 
-
 
-
260

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

 
83.1
%
 
1,370

 
16.75

 
Acme (Albertsons)*
 
Dollar Tree, Jersey Strong
 
-
261

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

 
90.5
%
 
3,235

 
16.52

 
Walmart Supercenter*
 
Marshalls, Rainbow, Ross Dress for Less, Staples, ULTA
 
-
262

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

 
100.0
%
 
2,736

 
30.50

 
-
 
Minado, Stew Leonard's Wines, T.J.Maxx
 
-
263

 
Erie Canal Centre
 
Dewitt
 
NY
 
Syracuse, NY
2018
 
122,626

 
100.0
%
 
1,713

 
13.97

 
-
 
Burlington Stores, Dick's Sporting Goods, Michaels
 
-
264

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

 
100.0
%
 
1,435

 
21.27

 
Acme (Albertsons)
 
True Value
 
-
265

 
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
266

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

 
93.2
%
 
1,894

 
26.23

 
Wild by Nature Market*, Stop & Shop*
 
Ace Hardware
 
Rite Aid
267

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

 
97.5
%
 
3,004

 
15.91

 
-
 
Burlington Stores, Dollar Tree, K&G Fashion Superstore
 
-
268

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

 
100.0
%
 
6,863

 
36.63

 
H-Mart
 
Christmas Tree Shops, Rite Aid, T.J.Maxx
 
-
269

 
Cayuga Mall
 
Ithaca
 
NY
 
Ithaca, NY
1969
 
204,830

 
85.0
%
 
1,719

 
9.88

 
-
 
Big Lots, JOANN, Party City, Rite Aid, True Value
 
-
270

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

 
100.0
%
 
1,503

 
20.82

 
Key Food Marketplace
 
T.J.Maxx
 
-
271

 
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
 
-
 
-
272

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

 
84.0
%
 
1,287

 
25.06

 
KolSave Market*
 
Advance Auto Parts, Planet Fitness
 
-
273

 
Mamaroneck Centre (3)
 
Mamaroneck
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2019
 
27,727

 
100.0
%
 
1,007

 
36.32

 
North Shore Farms
 
CVS
 
-

Supplemental Disclosure - Three Months Ended December 31, 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
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
274

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

 
90.9
%
 
2,781

 
13.71

 
Super Stop & Shop (Ahold)
 
Planet Fitness, Savers
 
-
275

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

 
95.9
%
 
2,120

 
10.86

 
-
 
Ashley Furniture, Big Lots, Citi Trends, David's Bridal, Hobby Lobby
 
-
276

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

 
100.0
%
 
1,964

 
16.10

 
ShopRite
 
Retro Fitness, Rite Aid, U.S. Post Office
 
-
277

 
Rockland Plaza
 
Nanuet
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2006
 
252,542

 
98.7
%
 
6,660

 
26.71

 
A Matter of Health
 
Barnes & Noble, Charlotte Russe, Marshalls, Modell's Sporting Goods, Petco
 
-
278

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

 
87.0
%
 
1,285

 
38.46

 
-
 
Harmon Discount
 
-
279

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

 
97.2
%
 
2,678

 
22.41

 
-
 
Dollar Tree, HomeGoods
 
-
280

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

 
100.0
%
 
1,847

 
18.63

 
Best Market
 
CVS, T.J.Maxx
 
-
281

 
The Shops at Riverhead
 
Riverhead
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2018
 
115,089

 
100.0
%
 
2,753

 
23.92

 
Costco*
 
HomeSense, Marshalls, Petsmart, Ulta
 
-
282

 
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
 
-
283

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

 
83.0
%
 
1,301

 
21.65

 
Price Chopper
 
Family Dollar
 
-
284

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

 
97.6
%
 
3,156

 
18.43

 
ShopRite
 
A.C. Moore, Blink Fitness (Equinox), Bob's Stores
 
Firestone
285

 
Campus Plaza
 
Vestal
 
NY
 
Binghamton, NY
 
2003
 
160,744

 
98.4
%
 
1,824

 
11.53

 
-
 
Olum's Furniture & Appliances, Rite Aid, Staples
 
-
286

 
Parkway Plaza
 
Vestal
 
NY
 
Binghamton, NY
 
1995
 
207,154

 
100.0
%
 
2,263

 
10.92

 
PriceRite (Wakefern)
 
Bed Bath & Beyond, Kohl's, PetSmart
 
Target
287

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

 
100.0
%
 
1,494

 
16.18

 
-
 
HomeGoods, Michaels, Old Navy
 
-
288

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

 
97.3
%
 
4,868

 
17.06

 
Sam's Club*, Walmart Supercenter*
 
A.C. Moore, AMC Cinemas, Barnes & Noble, Dick's Sporting Goods, Dollar Tree, DSW, T.J.Maxx, Ulta
 
-
289

 
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
290

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

 
97.3
%
 
2,513

 
29.19

 
H-Mart
 
-
 
-
291

 
Brunswick Town Center
 
Brunswick
 
OH
 
Cleveland-Elyria, OH
 
2004
 
143,282

 
98.8
%
 
2,037

 
14.39

 
Giant Eagle
 
-
 
The Home Depot
292

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

 
94.4
%
 
1,482

 
10.76

 
Giant Eagle, Marc's
 
-
 
-
293

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

 
92.3
%
 
2,333

 
17.45

 
Kroger
 
Petco, Planet Fitness, Rainbow
 
-
294

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

 
97.4
%
 
1,459

 
9.09

 
Kroger
 
Pet Supplies Plus
 
-
295

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

 
96.7
%
 
3,467

 
14.21

 
Fresh Thyme Farmers Market
 
HomeGoods, LA Fitness, Pet Supplies Plus, Stein Mart, T.J.Maxx
 
-
296

 
Western Hills Plaza
 
Cincinnati
 
OH
 
Cincinnati, OH-KY-IN
 
1954
 
314,754

 
62.6
%
 
3,395

 
18.01

 
-
 
Bed Bath & Beyond, Michaels, Staples, T.J.Maxx
 
Target
297

 
Western Village
 
Cincinnati
 
OH
 
Cincinnati, OH-KY-IN
 
2005
 
115,116

 
96.3
%
 
1,046

 
30.54

 
Kroger
 
-
 
-
298

 
Crown Point
 
Columbus
 
OH
 
Columbus, OH
 
1980
 
144,931

 
91.0
%
 
1,301

 
9.87

 
Kroger
 
Dollar Tree, Planet Fitness
 
-
299

 
Greentree Shopping Center
 
Columbus
 
OH
 
Columbus, OH
 
2005
 
131,573

 
84.9
%
 
1,183

 
11.41

 
Kroger
 
-
 
-
300

 
Brandt Pike Place
 
Dayton
 
OH
 
Dayton, OH
 
2008
 
17,900

 
88.8
%
 
164

 
10.31

 
Kroger*
 
-
 
-
301

 
South Towne Centre
 
Dayton
 
OH
 
Dayton, OH
 
1972
 
333,998

 
98.7
%
 
4,453

 
14.11

 
Health Foods Unlimited
 
Burlington Stores, Christmas Tree Shops, JOANN, Party City, Petsmart, Value City Furniture
 
-
302

 
Southland Shopping Center
 
Middleburg Heights
 
OH
 
Cleveland-Elyria, OH
 
1951
 
695,261

 
96.6
%
 
7,137

 
10.62

 
BJ's Wholesale Club, Giant Eagle, Marc's
 
Burlington Stores, Cleveland Furniture Bank, JOANN, Marshalls, Party City
 
-
303

 
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
 
-
304

 
Surrey Square
 
Norwood
 
OH
 
Cincinnati, OH-KY-IN
 
2010
 
175,167

 
96.7
%
 
2,203

 
25.90

 
Kroger
 
Marshalls
 
-
305

 
Brice Park
 
Reynoldsburg
 
OH
 
Columbus, OH
 
1989
 
158,565

 
88.1
%
 
1,202

 
9.37

 
-
 
Ashley Furniture, Citi Trends, Dollar Tree, Michaels
 
-
306

 
Streetsboro Crossing
 
Streetsboro
OH
 
Akron, OH
 
2002
 
89,436

 
93.9
%
 
611

 
7.28

 
Giant Eagle
 
-
 
Lowe's, Target
307

 
Miracle Mile Shopping Plaza
 
Toledo
 
OH
 
Toledo, OH
 
1955
 
315,515

 
80.8
%
 
2,031

 
13.64

 
Kroger
 
Big Lots, Harbor Freight Tools
 
-
308

 
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
309

 
Village West
 
Allentown
 
PA
 
Allentown-Bethlehem-Easton, PA-NJ
 
1999
 
140,474

 
93.1
%
 
2,486

 
19.00

 
Giant Food (Ahold)
 
CVS, Dollar Tree
 
-
310

 
Park Hills Plaza
 
Altoona
 
PA
 
Altoona, PA
 
1985
 
258,818

 
83.0
%
 
1,993

 
9.37

 
Weis Markets
 
A.C. Moore, Dunham's Sports, Harbor Freight, Shoe Carnival
 
-
311

 
Bensalem Square
 
Bensalem
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1986
 
70,378

 
100.0
%
 
780

 
11.08

 
Redner's Warehouse Market
 
-
 
Premiere Storage
312

 
Bethel Park Shopping Center
 
Bethel Park
 
PA
 
Pittsburgh, PA
 
1965
 
199,079

 
100.0
%
 
1,953

 
10.88

 
Giant Eagle
 
Walmart
 
-
313

 
Lehigh Shopping Center
 
Bethlehem
 
PA
 
Allentown-Bethlehem-Easton, PA-NJ
 
1955
 
373,766

 
92.1
%
 
3,736

 
13.85

 
Giant Food (Ahold)
 
Aetna, Big Lots, Citi Trends, Dollar Tree, Mega Marshalls, PetSmart, Rite Aid, Staples, Wines & Spirits
 
-

Supplemental Disclosure - Three Months Ended December 31, 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
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
314

 
Bristol Park
 
Bristol
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1993
 
282,654

 
89.5
%
 
2,305

 
9.11

 
-
 
Ollie's Bargain Outlet
 
-
315

 
Chalfont Village Shopping Center
 
Chalfont
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1989
 
46,051

 
73.6
%
 
423

 
12.48

 
-
 
-
 
-
316

 
New Britain Village Square
 
Chalfont
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1989
 
143,716

 
89.9
%
 
2,479

 
19.20

 
Giant Food (Ahold)
 
Wine & Spirits Shoppe
 
-
317

 
Collegeville Shopping Center (3)
 
Collegeville
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
2019
 
110,696

 
72.9
%
 
1,238

 
15.35

 
Kimberton Whole Foods
 
Pep Boys, Rascal Fitness
 
-
318

 
Whitemarsh Shopping Center
 
Conshohocken
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
2002
 
74,432

 
100.0
%
 
1,928

 
25.90

 
Giant Food (Ahold)
 
Wine & Spirits Shoppe
 
-
319

 
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
 
-
320

 
Dickson City Crossings
 
Dickson City
 
PA
 
Scranton--Wilkes-Barre--Hazleton, PA
 
1997
 
312,699

 
93.8
%
 
3,248

 
18.08

 
-
 
Burlington Stores, Dollar Tree, Gabe's, Party City, PetSmart, T.J.Maxx, The Home Depot
 
-
321

 
Barn Plaza
 
Doylestown
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
2002
 
237,681

 
99.3
%
 
3,505

 
14.86

 
-
 
Kohl's, Marshalls, Regal Cinemas
 
-
322

 
Pilgrim Gardens
 
Drexel Hill
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1955
 
75,223

 
100.0
%
 
1,308

 
17.39

 
-
 
Dollar Tree, Ross Dress for Less, Tuesday Morning, US Post Office
 
-
323

 
New Garden Center
 
Kennett Square
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1979
 
144,920

 
94.9
%
 
1,076

 
8.00

 
-
 
Big Lots, Ollie's Bargain Outlet
 
-
324

 
Stone Mill Plaza
 
Lancaster
PA
 
Lancaster, PA
 
2008
 
106,736

 
100.0
%
 
1,346

 
12.61

 
Giant Food (Ahold)
 
-
 
-
325

 
North Penn Market Place
 
Lansdale
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1977
 
58,358

 
92.9
%
 
986

 
19.47

 
Weis Markets*
 
-
 
-
326

 
Village at Newtown (3)
 
Newtown
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
2018
 
186,422

 
91.3
%
 
5,025

 
29.86

 
McCaffrey's
 
Pier 1 Imports
 
-
327

 
Ivyridge
 
Philadelphia
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1963
 
106,353

 
100.0
%
 
2,679

 
25.19

 
-
 
Dollar Tree, Target, Wine & Spirits
 
-
328

 
Roosevelt Mall (3)
 
Philadelphia
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
2019
 
583,063

 
98.0
%
 
8,794

 
34.06

 
-
 
LA Fitness, Macy's, Modell's Sporting Goods, Rainbow, Ross Dress For Less
 
-
329

 
Shoppes at Valley Forge
 
Phoenixville
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
2003
 
176,676

 
94.9
%
 
1,312

 
7.82

 
Redner's Warehouse Market
 
French Creek Outfitters, Staples
 
-
330

 
County Line Plaza
 
Souderton
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1971
 
154,758

 
97.1
%
 
1,521

 
10.52

 
ALDI
 
Dollar Tree, Planet Fitness, Rite Aid, VF Outlet
 
-
331

 
69th Street Plaza
 
Upper Darby
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1994
 
41,711

 
100.0
%
 
419

 
10.05

 
Fresh Grocer (Wakefern)*
 
EZ Bargains, Rent-A-Center, Super Dollar City
 
-
332

 
Warminster Town Center
 
Warminster
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1997
 
237,152

 
100.0
%
 
3,649

 
16.69

 
ShopRite
 
A.C. Moore, Modell's Sporting Goods, Old Navy, Party City, PetSmart, Ross Dress for Less
 
Kohl's
333

 
Shops at Prospect
 
West Hempfield
 
PA
 
Lancaster, PA
 
1994
 
63,392

 
97.6
%
 
776

 
12.54

 
Musser's Markets
 
Dollar Tree
 
Kmart
334

 
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
 
-
335

 
Wilkes-Barre Township Marketplace
 
Wilkes-Barre
 
PA
 
Scranton--Wilkes-Barre--Hazleton, PA
2004
 
307,610

 
97.9
%
 
2,340

 
33.22

 
Walmart Supercenter
 
Chuck E Cheese, Cracker Barrel, Party City, Shoe Carnival
 
-
336

 
Belfair Towne Village
 
Bluffton
 
SC
 
Hilton Head Island-Bluffton-Beaufort, SC
 
2006
 
165,039

 
94.4
%
 
2,362

 
15.16

 
Kroger
 
Stein Mart
 
-
337

 
Milestone Plaza
 
Greenville
 
SC
 
Greenville-Anderson-Mauldin, SC
 
1995
 
89,721

 
97.4
%
 
1,573

 
19.12

 
BI-LO (Southeastern Grocers)
 
-
 
-
338

 
Circle Center
 
Hilton Head
 
SC
 
Hilton Head Island-Bluffton-Beaufort, SC
 
2000
 
65,313

 
96.9
%
 
877

 
13.85

 
BI-LO (Southeastern Grocers)
 
-
 
-
339

 
Island Plaza
 
James Island
 
SC
 
Charleston-North Charleston, SC
1994
 
171,224

 
98.1
%
 
1,555

 
9.26

 
Food Lion (Delhaize)
 
Dollar Tree, Gold's Gym, Tuesday Morning
 
-
340

 
Festival Centre
 
North Charleston
 
SC
 
Charleston-North Charleston, SC
1987
 
325,347

 
88.4
%
 
2,628

 
9.25

 
-
 
Gold's Gym, New Spring Church, Sears Outlet
 
-
341

 
Fairview Corners I & II
 
Simpsonville
 
SC
 
Greenville-Anderson-Mauldin, SC
2003
 
131,002

 
98.8
%
 
2,047

 
15.81

 
-
 
Ross Dress for Less, T.J.Maxx
 
Target
342

 
Hillcrest Market Place
 
Spartanburg
 
SC
 
Spartanburg, SC
1965
 
358,040

 
92.1
%
 
3,957

 
12.61

 
Publix
 
Marshalls, NCG Cinemas, Office Depot, Petco, Ross Dress for Less, Stein Mart
 
-
343

 
East Ridge Crossing
 
Chattanooga
 
TN
 
Chattanooga, TN-GA
1999
 
58,950

 
86.1
%
 
558

 
11.00

 
Food Lion (Delhaize)
 
-
 
-
344

 
Watson Glen Shopping Center
 
Franklin
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
1988
 
265,027

 
98.5
%
 
2,810

 
10.86

 
ALDI
 
At Home, Big Lots, Franklin Athletic Club, Trees n Trends
 
-
345

 
Williamson Square
 
Franklin
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
 
1988
 
331,386

 
99.5
%
 
3,757

 
11.39

 
-
 
Family Leisure, Goldfish Swim School, Grace Church Nashville, Hard Knocks, Hobby Lobby, Planet Fitness
 
-
346

 
Greeneville Commons
 
Greeneville
 
TN
 
Greeneville, TN
 
2002
 
223,564

 
93.8
%
 
1,746

 
8.42

 
-
 
Belk, Burkes Outlet, Five Below, Hobby Lobby, Marshalls, Ross Dress for Less
 
-
347

 
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
 
-
348

 
The Commons at Wolfcreek (2)
 
Memphis
 
TN
 
Memphis, TN-MS-AR
2014
 
659,193

 
90.3
%
 
8,713

 
14.91

 
-
 
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
349

 
Georgetown Square
 
Murfreesboro
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
 
2003
 
114,117

 
89.5
%
 
1,254

 
12.28

 
Kroger
 
Aaron's
 
-
350

 
Nashboro Village
 
Nashville
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
1998
 
86,811

 
98.2
%
 
1,076

 
12.63

 
Kroger
 
-
 
Walgreens
351

 
Commerce Central
 
Tullahoma
 
TN
 
Tullahoma-Manchester, TN
 
1995
 
182,401

 
98.0
%
 
1,288

 
7.20

 
Walmart Supercenter
 
Dollar Tree
 
-
352

 
Merchant's Central
 
Winchester
 
TN
 
Tullahoma-Manchester, TN
1997
 
208,123

 
95.8
%
 
1,230

 
6.17

 
Walmart Supercenter
 
Goody's
 
-

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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
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
353

 
Palm Plaza
 
Aransas
 
TX
 
Corpus Christi, TX
2002
 
50,475

 
92.3
%
 
372

 
7.98

 
-
 
Bealls (Stage Stores), Family Dollar
 
-
354

 
Parmer Crossing
 
Austin
 
TX
 
Austin-Round Rock, TX
1989
 
163,712

 
97.0
%
 
1,825

 
11.49

 
Big Bazar Grocery
 
Big Lots, Dollar Tree, Harbor Freight Tools, Mega Furniture, Planet Fitness
 
Fry's Electronics
355

 
Baytown Shopping Center
 
Baytown
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1987
 
95,941

 
91.2
%
 
979

 
11.19

 
-
 
24 Hour Fitness
 
-
356

 
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
 
-
357

 
Bryan Square
 
Bryan
 
TX
 
College Station-Bryan, TX
2008
 
59,029

 
65.8
%
 
310

 
10.17

 
-
 
99 Cents Only, Citi Trends, Firestone
 
-
358

 
Townshire
 
Bryan
 
TX
 
College Station-Bryan, TX
2002
 
136,887

 
90.3
%
 
1,015

 
8.21

 
-
 
Tops Printing
 
-
359

 
Central Station
 
College Station
 
TX
 
College Station-Bryan, TX
1976
 
176,847

 
86.7
%
 
2,745

 
18.38

 
-
 
Dollar Tree, Party City, Spec's Liquors
 
Kohl's
360

 
Rock Prairie Crossing
 
College Station
 
TX
 
College Station-Bryan, TX
 
2002
 
118,700

 
95.7
%
 
1,298

 
27.33

 
Kroger
 
CVS
 
-
361

 
Carmel Village
 
Corpus Christi
 
TX
 
Corpus Christi, TX
 
1993
 
84,075

 
82.7
%
 
742

 
10.67

 
-
 
Bay Area Dialysis, Bealls (Stage Stores), Tuesday Morning
 
-
362

 
Claremont Village
 
Dallas
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1976
 
66,980

 
95.5
%
 
546

 
8.63

 
-
 
Family Dollar
 
-
363

 
Kessler Plaza
 
Dallas
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1975
 
68,962

 
48.0
%
 
505

 
15.26

 
-
 
Family Dollar
 
-
364

 
Stevens Park Village
 
Dallas
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1974
 
45,492

 
100.0
%
 
461

 
10.13

 
-
 
Big Lots, O'Reilly Auto Parts
 
-
365

 
Webb Royal Plaza
 
Dallas
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1961
 
108,545

 
100.0
%
 
1,167

 
11.23

 
El Rio Grande Latin Market
 
Family Dollar
 
-
366

 
Wynnewood Village (3)
 
Dallas
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2019
 
536,064

 
95.0
%
 
5,657

 
13.18

 
El Rancho, Kroger
 
Fallas Paredes, Gen X Clothing, LA Fitness, Maya Cinema, Ross Dress for Less
 
-
367

 
Parktown
 
Deer Park
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
118,221

 
92.8
%
 
991

 
9.03

 
Food Town
 
Burkes Outlet, Walgreens
 
-
368

 
Kenworthy Crossing
 
El Paso
 
TX
 
El Paso, TX
 
2003
 
74,393

 
92.6
%
 
731

 
10.62

 
Albertsons
 
-
 
Anytime Fitness
369

 
Preston Ridge
 
Frisco
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2018
 
789,559

 
96.0
%
 
15,825

 
21.02

 
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
 
-
370

 
Forest Hills Village
 
Ft. Worth
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1968
 
69,651

 
100.0
%
 
409

 
5.87

 
Foodland Markets
 
Family Dollar, Hi Style Fashion
 
-
371

 
Ridglea Plaza
 
Ft. Worth
 
TX
 
Dallas-Fort Worth-Arlington, TX
1990
 
170,519

 
97.1
%
 
1,972

 
11.91

 
Tom Thumb (Albertsons)
 
Goody Goody Wine & Spirits, Stein Mart
 
-
372

 
Trinity Commons
 
Ft. Worth
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1998
 
197,423

 
91.2
%
 
3,573

 
19.84

 
Tom Thumb (Albertsons)
 
DSW
 
-
373

 
Village Plaza
 
Garland
 
TX
 
Dallas-Fort Worth-Arlington, TX
2002
 
89,444

 
98.0
%
 
1,103

 
12.65

 
Truong Nguyen Grocer
 
-
 
-
374

 
North Hills Village
 
Haltom City
 
TX
 
Dallas-Fort Worth-Arlington, TX
1998
 
43,299

 
84.7
%
 
270

 
7.36

 
-
 
Dollar Tree, Texas Bingo
 
-
375

 
Highland Village Town Center
 
Highland Village
 
TX
 
Dallas-Fort Worth-Arlington, TX
1996
 
99,341

 
72.2
%
 
828

 
11.55

 
-
 
Painted Tree Marketplace
 
-
376

 
Bay Forest
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2004
 
71,667

 
96.0
%
 
739

 
10.74

 
Kroger
 
-
 
-
377

 
Beltway South
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
1998
 
107,174

 
97.0
%
 
994

 
29.37

 
Kroger
 
-
 
-
378

 
Braes Heights (3)
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2019
 
92,904

 
92.0
%
 
2,308

 
27.01

 
-
 
CVS, Imagination Toys, I W Marks Jewelers
 
-
379

 
Braes Oaks Center
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1992
 
42,567

 
93.8
%
 
430

 
10.77

 
-
 
-
 
-
380

 
Braesgate
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1997
 
91,382

 
98.3
%
 
610

 
6.79

 
Food Town
 
-
 
-
381

 
Broadway
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
2006
 
74,717

 
80.2
%
 
677

 
11.86

 
El Ahorro Supermarket
 
Melrose Fashions
 
-
382

 
Clear Lake Camino South
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
1964
 
105,501

 
94.1
%
 
1,507

 
16.22

 
ALDI
 
24 Hour Fitness, Mr. Gatti's Pizza, Spec's Liquors
 
-
383

 
Hearthstone Corners (3)
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2019
 
208,147

 
95.6
%
 
1,708

 
8.59

 
El Rancho
 
Big Lots, Conn's, Stein Mart
 
-
384

 
Jester Village
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1988
 
62,665

 
96.7
%
 
734

 
12.12

 
-
 
24 Hour Fitness
 
-
385

 
Jones Plaza
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2000
 
111,206

 
70.1
%
 
875

 
11.23

 
-
 
Fitness Connection
 
-
386

 
Jones Square
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
169,003

 
100.0
%
 
1,380

 
8.17

 
-
 
Big Lots, Hobby Lobby
 
-
387

 
Maplewood
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2004
 
97,369

 
99.4
%
 
784

 
8.10

 
Foodarama
 
Burke's Outlet
 
-
388

 
Merchants Park
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2009
 
243,798

 
98.7
%
 
3,427

 
14.24

 
Kroger
 
Big Lots, Petco, Ross Dress for Less, Tuesday Morning
 
-
389

 
Northgate
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1972
 
40,244

 
81.4
%
 
233

 
7.12

 
El Rancho*
 
Affordable Furniture, Firestone, TitleMax
 
-
390

 
Northshore
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2001
 
223,954

 
91.6
%
 
2,824

 
14.00

 
Sellers Bros.
 
Conn's, Office Depot
 
-
391

 
Northtown Plaza
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1960
 
190,559

 
81.4
%
 
2,046

 
13.40

 
El Rancho
 
99 Cents Only, dd's Discounts (Ross)
 
-
392

 
Orange Grove
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2005
 
184,704

 
98.2
%
 
1,834

 
10.55

 
-
 
24 Hour Fitness, Floor & Décor
 
-
393

 
Pinemont Shopping Center
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
68,378

 
100.0
%
 
912

 
13.66

 
-
 
Family Dollar, Houston Community College
 
-
394

 
Royal Oaks Village
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2001
 
144,929

 
95.1
%
 
3,265

 
23.70

 
H-E-B
 
-
 
-
395

 
Tanglewilde Center
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1998
 
83,725

 
97.3
%
 
1,238

 
15.34

 
ALDI
 
Dollar Tree, Party City, Salon In The Park
 
-
396

 
Westheimer Commons
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1984
 
241,253

 
89.8
%
 
2,056

 
9.49

 
Fiesta Mart
 
King Dollar, Marshalls
 
-

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Page 50
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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
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
397

 
Fry Road Crossing
 
Katy
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2005
 
240,940

 
100.0
%
 
2,569

 
11.20

 
-
 
Hobby Lobby, Palais Royal, Stein Mart
 
-
398

 
Washington Square
 
Kaufman
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1978
 
64,230

 
85.1
%
 
371

 
6.79

 
-
 
AutoZone, Bealls (Stage Stores), Dollar Tree
 
-
399

 
Jefferson Park
 
Mount Pleasant
 
TX
 
Mount Pleasant, TX
 
2001
 
130,096

 
100.0
%
 
960

 
7.38

 
Super 1 Foods
 
Harbor Freight Tools, PetSense
 
-
400

 
Winwood Town Center
 
Odessa
 
TX
 
Odessa, TX
 
2002
 
372,534

 
100.0
%
 
3,241

 
13.77

 
H-E-B
 
dd's Discounts (Ross), Michaels, Office Depot, Party City, Ross Dress for Less, Target
 
-
401

 
Crossroads Centre - Pasadena
 
Pasadena
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1997
 
146,567

 
94.3
%
 
1,984

 
15.33

 
Kroger
 
LA Fitness
 
-
402

 
Spencer Square
 
Pasadena
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1998
 
186,732

 
92.0
%
 
2,063

 
12.37

 
Kroger
 
Burkes Outlet
 
-
403

 
Pearland Plaza
 
Pearland
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1995
 
156,491

 
94.6
%
 
1,144

 
7.73

 
Kroger
 
Harbor Freight Tools, Walgreens
 
-
404

 
Market Plaza
 
Plano
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2002
 
137,658

 
83.0
%
 
2,678

 
24.62

 
Central Market (H-E-B)
 
-
 
-
405

 
Preston Park Village
 
Plano
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1985
 
270,128

 
86.7
%
 
5,917

 
25.27

 
-
 
Gap Factory Store, Infinite Bounds Gymnastics
 
-
406

 
Keegan's Meadow
 
Stafford
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
125,293

 
97.9
%
 
1,285

 
10.78

 
El Rancho
 
Palais Royal
 
-
407

 
Texas City Bay
 
Texas City
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2005
 
224,514

 
79.9
%
 
1,660

 
9.37

 
Kroger
 
Conn's, Planet Fitness
 
-
408

 
Windvale Center
 
The Woodlands
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2002
 
101,088

 
98.3
%
 
1,156

 
27.51

 
-
 
-
 
-
409

 
The Centre at Navarro
 
Victoria
 
TX
 
Victoria, TX
 
2005
 
66,102

 
94.7
%
 
738

 
16.60

 
ALDI
 
Planet Fitness, Walgreens
 
-
410

 
Spradlin Farm
 
Christiansburg
 
VA
 
Blacksburg-Christiansburg-Radford, VA
 
2000
 
181,055

 
100.0
%
 
2,745

 
15.42

 
-
 
Barnes & Noble, Big Lots, Michaels, Petco, T.J.Maxx
 
Target, The Home Depot
411

 
Culpeper Town Square
 
Culpeper
 
VA
 
Washington-Arlington-Alexandria, DC-VA-MD-WV
 
1999
 
132,882

 
95.2
%
 
1,158

 
9.16

 
Weis Markets
 
Mountain Run Bowling, Tractor Supply Co.
 
-
412

 
Hanover Square
 
Mechanicsville
 
VA
 
Richmond, VA
 
1991
 
136,680

 
99.3
%
 
2,000

 
14.74

 
-
 
Gold's Gym, Hobby Lobby
 
Kohl's
413

 
Tuckernuck Square
 
Richmond
 
VA
 
Richmond, VA
 
1981
 
86,010

 
95.5
%
 
1,276

 
15.54

 
-
 
2nd & Charles, Chuck E. Cheese's
 
-
414

 
Cave Spring Corners
 
Roanoke
 
VA
 
Roanoke, VA
 
2005
 
147,133

 
100.0
%
 
1,198

 
13.57

 
Kroger
 
Hamrick's
 
-
415

 
Hunting Hills
 
Roanoke
 
VA
 
Roanoke, VA
 
1989
 
167,875

 
95.3
%
 
1,462

 
9.23

 
-
 
Dollar Tree, Kohl's, PetSmart
 
-
416

 
Lake Drive Plaza
 
Vinton
 
VA
 
Roanoke, VA
 
2008
 
163,290

 
100.0
%
 
1,344

 
8.24

 
Kroger
 
Big Lots, Dollar Tree
 
-
417

 
Hilltop Plaza
 
Virginia Beach
 
VA
 
Virginia Beach-Norfolk-Newport News, VA-NC
 
2010
 
150,300

 
93.8
%
 
2,645

 
20.81

 
Trader Joe's
 
Kirkland’s, PetSmart, Ulta
 
-
418

 
Ridgeview Centre
 
Wise
 
VA
 
Big Stone Gap, VA
 
1990
 
190,242

 
78.6
%
 
1,158

 
7.74

 
-
 
Dollar Tree, Grand Home Furnishings, Harbor Freight Tools, Marshalls, Ollie's Bargain Outlet
 
Belk
419

 
Rutland Plaza
 
Rutland
 
VT
 
Rutland, VT
 
1997
 
224,514

 
98.4
%
 
1,988

 
9.00

 
Price Chopper
 
Dollar Tree, Flagship Cinemas, T.J.Maxx, Walmart
 
-
420

 
Spring Mall
 
Greenfield
 
WI
 
Milwaukee-Waukesha-West Allis, WI
2003
 
182,632

 
86.4
%
 
1,115

 
8.49

 
-
 
T.J.Maxx
 
-
421

 
Mequon Pavilions
 
Mequon
 
WI
 
Milwaukee-Waukesha-West Allis, WI
 
1967
 
219,454

 
86.9
%
 
3,130

 
16.42

 
Sendik's Food Market
 
Bed Bath & Beyond, DSW, Marshalls
 
-
422

 
Moorland Square Shopping Ctr
 
New Berlin
 
WI
 
Milwaukee-Waukesha-West Allis, WI
 
1990
 
98,303

 
98.7
%
 
990

 
10.20

 
Pick 'n Save (Kroger)
 
-
 
-
423

 
Paradise Pavilion
 
West Bend
 
WI
 
Milwaukee-Waukesha-West Allis, WI
 
2000
 
203,545

 
95.2
%
 
1,384

 
7.15

 
-
 
Hobby Lobby, Kohl's
 
ShopKo
424

 
Moundsville Plaza
 
Moundsville
 
WV
 
Wheeling, WV-OH
 
2004
 
176,156

 
98.3
%
 
1,284

 
7.42

 
Kroger
 
Big Lots, Dunham's Sports, Peebles
 
-
425

 
Grand Central Plaza
 
Parkersburg
 
WV
 
Parkersburg-Vienna, WV
 
1986
 
75,344

 
90.7
%
 
782

 
11.44

 
-
 
Office Depot, O'Reilly Auto Parts, T.J.Maxx
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL PORTFOLIO
 
 
 
 
 
 
 
 
73,673,124
 
 
91.9
%
 
$
887,743

 
$
14.10

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) * Indicates grocer is not owned.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(2) Property is listed as two individual properties on Company website for marketing purposes.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(3) Indicates property is currently in redevelopment.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended December 31, 2018
Page 51
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