EXHIBIT 99.2
Published on
Exhibit 99.2

SUPPLEMENTAL DISCLOSURE | |||||||||||||
Three Months Ended March 31, 2019 | |||||||||||||
TABLE OF CONTENTS | |||||
Page | |||||
Note: Financial information is unaudited. | |||||
For additional information, please visit www.brixmor.com, follow Brixmor on Twitter at https://twitter.com/Brixmor, on Facebook at https://www.facebook.com/Brixmor, on Instagram at https://www.instagram.com/brixmorpopupshop and on Youtube at https://www.youtube.com/user/Brixmor, and 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 March 31, 2019 | | |
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 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. 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) accretion of above- and below-market leases and tenant inducements, and (iii) straight-line ground rent expense. | ||||||||||||
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 (to the extent | ||||||||||||
equity investee impairment is directly attributable to a decrease in the value of its operating properties) 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, third party leasing commissions and tenant specific landlord | |||||||||||
work. | ||||||||||||
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, expense reimbursements, adjustments for revenues deemed uncollectible, ancillary and other rental | ||||||||||||
income, percentage rents and other revenues) 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) accretion of above- | ||||||||||||
and below-market leases and tenant inducements and (v) straight-line ground rent expense. | ||||||||||||
New Development | Refers to ground up development of new shopping centers. Does not refer to outparcel development. | |||||||||||
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-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. | |||||||||||
Total Rent Spread | Combined spreads for new, renewal and option leases. | |||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 1 | ![]() |
GLOSSARY OF TERMS | ||||||||||||
Term | Definition | |||||||||||
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 3/31/19 | ||||||||||||
Total properties in Brixmor Property Group portfolio | 422 | |||||||||||
Acquired properties excluded from same property NOI | — | |||||||||||
Additional exclusions | (2) | |||||||||||
Same Property NOI pool | 420 | |||||||||||
In addition, three outparcels acquired in 2018 are excluded from the Same Property NOI pool. | ||||||||||||
The balance of the shopping centers where those outparcels exist are included in the Same | ||||||||||||
Property NOI pool. | ||||||||||||
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. | |||||||||||
FASB Accounting Standards Codification - Topic 842 (Leases) ("ASC 842") | ||||||||||||
In connection with the Company’s adoption of ASC 842 on January 1, 2019, the financial statements have been impacted as follows: | ||||||||||||
Consolidated Balance Sheets | ||||||||||||
• Addition of a right-of-use asset included in other assets. The right-of-use asset represents the value of the lease liability (described below) adjusted for initial direct costs, prepaid | ||||||||||||
lease payments and lease incentives. | ||||||||||||
• Addition of a lease liability included in accounts payable, accrued expenses and other liabilities. The lease liability represents the present value of the future, fixed contractual lease | ||||||||||||
obligations under leases where the Company is the lessee. | ||||||||||||
Consolidated Statements of Operations | ||||||||||||
• Expense reimbursements and percentage rents are now included in rental income for all periods presented. | ||||||||||||
• Rental income is presented net of revenues deemed uncollectible for the current period. Prior period provision for doubtful accounts is included in operating expenses in accordance | ||||||||||||
with previous guidance and has not been reclassified to rental income. | ||||||||||||
• Revenues that are not specific to tenant leases have been reclassified from rental income to other revenues for both periods presented. | ||||||||||||
• Indirect leasing costs previously capitalized, such as leasing payroll and/or legal costs associated with the execution of lease agreements, are expensed under ASC 842. Amounts | ||||||||||||
incurred in the current period are now included in general and administrative, with no changes made to prior period presentations. | ||||||||||||
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 | The Company believes NAREIT FFO assists investors in analyzing and comparing the operating and financial performance of a company between | |||||||||||
periods. | ||||||||||||
• NOI and Same Property NOI | Same property NOI eliminates disparities in NOI due to the acquisition or disposition of properties or the stabilization of New 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. | ||||||||||||
between periods. | ||||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 2 | ![]() |
RESULTS OVERVIEW & GUIDANCE | |||||||||||||||
Unaudited, dollars in thousands, except per share and per square foot amounts | |||||||||||||||
Three Months Ended | |||||||||||||||
Summary Financial Results | 3/31/19 | 3/31/18 | |||||||||||||
Total revenues (page 6) | $ 291,139 | $ 317,175 | |||||||||||||
Net income (page 6) (1) | 62,900 | 61,022 | |||||||||||||
Net income per diluted share (page 6) (1) | 0.21 | 0.20 | |||||||||||||
Adjusted EBITDA (page 7) (1) | 191,903 | 211,993 | |||||||||||||
Cash Adjusted EBITDA (page 7) (1) | 182,782 | 202,871 | |||||||||||||
NAREIT FFO (page 8) (1) | 142,807 | 154,828 | |||||||||||||
NAREIT FFO per diluted share (page 8) (1) | 0.48 | 0.51 | |||||||||||||
Items that impact FFO comparability, net per share (page 8) | (0.00) | (0.00) | |||||||||||||
Dividends declared per share (page 8) | 0.280 | 0.275 | |||||||||||||
Share dividend payout ratio (as % of NAREIT FFO) (page 8) | 58.4 | 53.8 | % | ||||||||||||
NOI (page 10) | 206,665 | 222,892 | |||||||||||||
Three Months Ended | |||||||||||||||
Summary Operating and Financial Ratios | 3/31/19 | 12/31/18 | 9/30/18 | 6/30/18 | 3/31/18 | ||||||||||
NOI margin (page 10) (2) | 73.5 | 73.0 | % | 73.8 | % | 73.8 | 73.3 | ||||||||
Same property NOI growth (page 11) (3) | 2.0 | (0.2 | )% | 1.2 | % | 1.4 | 0.7 | ||||||||
Fixed charge coverage (page 13) | 4.1x | 3.9x | 3.5x | 3.6x | 3.5x | ||||||||||
Net principal debt to Adjusted EBITDA (page 13) (4) | 6.4x | 6.2x | 6.2x | 6.4x | 6.6x | ||||||||||
Outstanding Classes of Stock | As of 3/31/19 | As of 12/31/18 | As of 9/30/18 | As of 6/30/18 | As of 3/31/18 | ||||||||||
Common shares outstanding (page 13) | 297,987 | 298,489 | 299,892 | 302,627 | 302,826 | ||||||||||
Summary Portfolio Statistics (5) | As of 3/31/19 | As of 12/31/18 | As of 9/30/18 | As of 6/30/18 | As of 3/31/18 | ||||||||||
Number of properties (page 28) | 422 | 425 | 445 | 471 | 480 | ||||||||||
Percent billed (page 28) | 87.5 | 88.4 | % | 89.4 | % | 89.4 | 89.8 | ||||||||
Percent leased (page 28) | 91.1 | 91.9 | % | 92.5 | % | 92.5 | 92.1 | ||||||||
ABR PSF (page 28) | $ 14.32 | $ 14.10 | $ 13.89 | $ 13.73 | $ 13.61 | ||||||||||
New lease rent spread (page 30) | 32.7 | 31.5 | % | 39.7 | % | 28.7 | 36.7 | ||||||||
New & renewal lease rent spread (page 30) | 12.3 | 11.2 | % | 13.4 | % | 14.3 | 16.7 | ||||||||
Total - new, renewal & option lease rent spread (page 30) | 9.8 | 9.5 | % | 12.1 | % | 11.2 | 14.5 | ||||||||
Total - new, renewal & option GLA (page 30) | 3,184,376 | 3,093,665 | 3,135,370 | 3,396,474 | 2,745,080 | ||||||||||
2019 Guidance | Current | Previous (at 12/31/18) | YTD | ||||||||||||
NAREIT FFO per diluted share (6)(7) | $1.86 - $1.94 | $1.86 - $1.94 | $ 0.48 | ||||||||||||
Same property NOI growth | 2.75% - 3.25% | 2.75% - 3.25% | 2.00 | % | |||||||||||
(1) The Company capitalized $3.0 million, or $0.01 per diluted share, of leasing payroll and legal costs during the three months ended March 31, 2018. In connection with the Company’s adoption of ASC 842 on January 1, 2019, the Company is no longer capitalizing such costs. | |||||||||||||||
(2) In connection with the Company’s adoption of ASC 842 on January 1, 2019, prior period ratios have been updated to be consistent with the current presentation. | |||||||||||||||
(3) Reflects same property NOI as reported for the specified period. | |||||||||||||||
(4) For purposes of financial ratios, Adjusted EBITDA is annualized based on current quarter results. | |||||||||||||||
(5) Reflects portfolio statistics as reported for the specified period. | |||||||||||||||
(6) Does not include any expectations of additional one-time items, including, but not limited to, litigation and other non-routine legal expenses. | |||||||||||||||
(7) Includes prospective capital recycling. | |||||||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 3 | ![]() |
FINANCIAL SUMMARY | |||||||||||||
Supplemental Disclosure Three Months Ended March 31, 2019 | |||||||||||||
CONSOLIDATED BALANCE SHEETS | ||||||||||||
Unaudited, dollars in thousands, except share information | ||||||||||||
As of | As of | |||||||||||
3/31/19 | 12/31/18 | |||||||||||
Assets | ||||||||||||
Real estate | ||||||||||||
Land | $ | 1,794,709 | $ | 1,804,504 | ||||||||
Buildings and tenant improvements | 7,518,193 | 7,535,985 | ||||||||||
Construction in progress | 108,322 | 90,378 | ||||||||||
Lease intangibles | 652,561 | 667,910 | ||||||||||
10,073,785 | 10,098,777 | |||||||||||
Accumulated depreciation and amortization | (2,386,092 | ) | (2,349,127 | ) | ||||||||
Real estate, net | 7,687,693 | 7,749,650 | ||||||||||
Cash and cash equivalents | 349 | 41,745 | ||||||||||
Restricted cash | 3,057 | 9,020 | ||||||||||
Marketable securities | 29,634 | 30,243 | ||||||||||
Receivables, net | 236,391 | 228,297 | ||||||||||
Deferred charges and prepaid expenses, net | 143,535 | 145,662 | ||||||||||
Real estate assets held for sale | 9,093 | 2,901 | ||||||||||
Other assets (1) | 74,178 | 34,903 | ||||||||||
Total assets | $ | 8,183,930 | $ | 8,242,421 | ||||||||
Liabilities | ||||||||||||
Debt obligations, net | $ | 4,873,065 | $ | 4,885,863 | ||||||||
Accounts payable, accrued expenses and other liabilities (1) | 518,094 | 520,459 | ||||||||||
Total liabilities | 5,391,159 | 5,406,322 | ||||||||||
Equity | ||||||||||||
Common stock, $0.01 par value; authorized 3,000,000,000 shares; | ||||||||||||
305,289,535 and 305,130,472 shares issued and 297,987,158 and 298,488,516 | ||||||||||||
shares outstanding | 2,980 | 2,985 | ||||||||||
Additional paid-in capital | 3,222,844 | 3,233,329 | ||||||||||
Accumulated other comprehensive income | 6,048 | 15,973 | ||||||||||
Distributions in excess of net income | (439,101 | ) | (416,188 | ) | ||||||||
Total equity | 2,792,771 | 2,836,099 | ||||||||||
Total liabilities and equity | $ | 8,183,930 | $ | 8,242,421 | ||||||||
(1) In connection with the Company’s adoption of ASC 842 on January 1, 2019, a right-of-use asset and lease liability were recorded and are included in Other assets and Accounts payable, accrued expenses and other liabilities, respectively. See page 9 for additional information. | ||||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 5 | ![]() |
CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||
Unaudited, dollars in thousands, except per share amounts | |||||||||||
Three Months Ended | |||||||||||
3/31/19 | 3/31/18 | ||||||||||
Revenues | |||||||||||
Rental income (1) | $ | 289,955 | $ | 316,797 | |||||||
Other revenues | 1,184 | 378 | |||||||||
Total revenues | 291,139 | 317,175 | |||||||||
Operating expenses | |||||||||||
Operating costs | 31,258 | 35,490 | |||||||||
Real estate taxes | 43,326 | 45,725 | |||||||||
Depreciation and amortization | 85,395 | 90,383 | |||||||||
Provision for doubtful accounts | — | 2,415 | |||||||||
Impairment of real estate assets | 3,112 | 15,902 | |||||||||
General and administrative (2) | 25,443 | 22,426 | |||||||||
Total operating expenses | 188,534 | 212,341 | |||||||||
Other income (expense) | |||||||||||
Dividends and interest | 147 | 96 | |||||||||
Interest expense | (46,666 | ) | (55,171 | ) | |||||||
Gain on sale of real estate assets | 7,602 | 11,448 | |||||||||
Gain (loss) on extinguishment of debt, net | 30 | (132 | ) | ||||||||
Other | (818 | ) | (53 | ) | |||||||
Total other expense | (39,705 | ) | (43,812 | ) | |||||||
Net income | $ | 62,900 | $ | 61,022 | |||||||
Per common share: | |||||||||||
Net income: | |||||||||||
Basic | $ | 0.21 | $ | 0.20 | |||||||
Diluted | $ | 0.21 | $ | 0.20 | |||||||
Weighted average shares: | |||||||||||
Basic | 298,599 | 304,158 | |||||||||
Diluted | 299,029 | 304,278 | |||||||||
(1) In connection with the Company’s adoption of ASC 842 on January 1, 2019, Rental income includes Expense reimbursements and Percentage rents for both periods presented. Additionally, for the three months ended March 31, 2019, Rental income is presented net of Revenues deemed uncollectible. See page 10 for additional information. | |||||||||||
(2) The Company capitalized $3.0 million of leasing payroll and legal costs during the three months ended March 31, 2018. In connection with the Company's adoption of ASC 842 on January 1, 2019, the Company is no longer capitalizing such costs. | |||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 6 | ![]() |
EBITDA | |||||||||
Unaudited, dollars in thousands | |||||||||
Three Months Ended | |||||||||
3/31/19 | 3/31/18 | ||||||||
Net income (1) | $ | 62,900 | $ | 61,022 | |||||
Interest expense | 46,666 | 55,171 | |||||||
Federal and state taxes | 755 | 214 | |||||||
Depreciation and amortization | 85,395 | 90,383 | |||||||
EBITDA | 195,716 | 206,790 | |||||||
Gain on disposition of operating properties | (7,602 | ) | (11,448 | ) | |||||
Impairment of real estate assets | 3,112 | 15,902 | |||||||
EBITDAre | $ | 191,226 | $ | 211,244 | |||||
EBITDAre | $ | 191,226 | $ | 211,244 | |||||
Litigation and other non-routine legal expenses | 697 | 584 | |||||||
Transaction expenses | 10 | 33 | |||||||
(Gain) loss on extinguishment of debt, net | (30 | ) | 132 | ||||||
Total adjustments | 677 | 749 | |||||||
Adjusted EBITDA | $ | 191,903 | $ | 211,993 | |||||
Adjusted EBITDA | $ | 191,903 | $ | 211,993 | |||||
Straight-line rental income, net | (5,036 | ) | (3,097 | ) | |||||
Accretion of above- and below-market leases and tenant inducements, net | (4,116 | ) | (6,055 | ) | |||||
Straight-line ground rent expense (2) | 31 | 30 | |||||||
Total adjustments | (9,121 | ) | (9,122 | ) | |||||
Cash Adjusted EBITDA | $ | 182,782 | $ | 202,871 | |||||
(1) The Company capitalized $3.0 million of leasing payroll and legal costs during the three months ended March 31, 2018. In connection with the Company’s adoption of ASC 842 on January 1, 2019, the Company is no longer capitalizing such costs. | |||||||||
(2) Straight-line ground rent expense is included in Operating costs on the Consolidated Statements of Operations. | |||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 7 | ![]() |
FUNDS FROM OPERATIONS (FFO) | ||||||||||
Unaudited, dollars in thousands, except per share amounts | ||||||||||
Three Months Ended | ||||||||||
3/31/19 | 3/31/18 | |||||||||
Net income (1) | $ | 62,900 | $ | 61,022 | ||||||
Gain on disposition of operating properties | (7,602 | ) | (11,448 | ) | ||||||
Depreciation and amortization- real estate related | 84,397 | 89,352 | ||||||||
Impairment of operating properties | 3,112 | 15,902 | ||||||||
NAREIT FFO | $ | 142,807 | $ | 154,828 | ||||||
NAREIT FFO per diluted share (1) | $ | 0.48 | $ | 0.51 | ||||||
Weighted average diluted shares outstanding | 299,029 | 304,278 | ||||||||
Items that impact FFO comparability | ||||||||||
Litigation and other non-routine legal expenses | $ | (697 | ) | $ | (584 | ) | ||||
Transaction expenses | (10 | ) | (33 | ) | ||||||
Gain (loss) on extinguishment of debt, net | 30 | (132 | ) | |||||||
Total items that impact FFO comparability | $ | (677 | ) | $ | (749 | ) | ||||
Items that impact FFO comparability, net per share | $ | (0.00 | ) | $ | (0.00 | ) | ||||
Additional Disclosures | ||||||||||
Straight-line rental income, net | $ | 5,036 | $ | 3,097 | ||||||
Accretion of above- and below-market leases and tenant inducements, net | 4,116 | 6,055 | ||||||||
Straight-line ground rent expense (2) | (31 | ) | (30 | ) | ||||||
Dividends declared per share | $ | 0.280 | $ | 0.275 | ||||||
Share dividends declared | $ | 83,436 | $ | 83,277 | ||||||
Share dividend payout ratio (as % of NAREIT FFO) | 58.4 | % | 53.8 | % | ||||||
(1) The Company capitalized $3.0 million, or $0.01 per diluted share, of leasing payroll and legal costs during the three months ended March 31, 2018. In connection with the Company’s adoption of ASC 842 on January 1, 2019, the Company is no longer capitalizing such costs. | ||||||||||
(2) Straight-line ground rent expense is included in Operating costs on the Consolidated Statements of Operations. | ||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 8 | ![]() |
SUPPLEMENTAL BALANCE SHEET DETAIL | ||||||||||
Unaudited, dollars in thousands | ||||||||||
As of | As of | |||||||||
3/31/19 | 12/31/18 | |||||||||
Receivables, net | ||||||||||
Straight-line rent receivable | $ | 131,603 | $ | 128,154 | ||||||
Tenant receivables | 93,084 | 96,047 | ||||||||
Allowance for doubtful accounts | (22,183 | ) | (21,724 | ) | ||||||
Insurance receivable (1) | 19,461 | 19,461 | ||||||||
Other | 14,426 | 6,359 | ||||||||
Total receivables, net | $ | 236,391 | $ | 228,297 | ||||||
Deferred charges and prepaid expenses, net | ||||||||||
Deferred charges, net | $ | 123,164 | $ | 126,082 | ||||||
Prepaid expenses, net | 20,371 | 19,580 | ||||||||
Total deferred charges and prepaid expenses, net | $ | 143,535 | $ | 145,662 | ||||||
Other assets | ||||||||||
Right-of-use asset (2) | $ | 43,146 | $ | — | ||||||
Furniture, fixtures and leasehold improvements, net | 13,033 | 13,771 | ||||||||
Interest rate swaps | 12,788 | 18,630 | ||||||||
Other | 5,211 | 2,502 | ||||||||
Total other assets | $ | 74,178 | $ | 34,903 | ||||||
Accounts payable, accrued expenses and other liabilities | ||||||||||
Accounts payable and other accrued expenses | $ | 191,626 | $ | 234,651 | ||||||
Below market leases, net | 120,091 | 126,874 | ||||||||
Dividends payable | 85,026 | 85,284 | ||||||||
Lease liability (2) | 48,196 | — | ||||||||
Accrued litigation (1) | 19,461 | 19,461 | ||||||||
Accrued SEC settlement (3) | 7,000 | 7,000 | ||||||||
Interest rate swaps | 6,786 | 2,571 | ||||||||
Other | 39,908 | 44,618 | ||||||||
Total accounts payable, accrued expenses and other liabilities | $ | 518,094 | $ | 520,459 | ||||||
(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) In connection with the Company’s adoption of ASC 842 on January 1, 2019, a right-of-use asset and lease liability were recorded and are included in Other assets and Accounts payable, accrued expenses and other liabilities, respectively. | ||||||||||
(3) 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 SEC on February 11, 2019. | ||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 9 | ![]() |
NOI & SUPPLEMENTAL STATEMENT OF OPERATIONS DETAIL | ||||||||||
Unaudited, dollars in thousands | ||||||||||
Three Months Ended | ||||||||||
3/31/19 | 3/31/18 | |||||||||
Net Operating Income Detail | ||||||||||
Base rent | $ | 211,069 | $ | 228,687 | ||||||
Expense reimbursements | 64,954 | 70,878 | ||||||||
Revenues deemed uncollectible / Provision for doubtful accounts | (2,844 | ) | (2,415 | ) | ||||||
Ancillary and other rental income / Other revenues | 5,170 | 3,975 | ||||||||
Percentage rents | 2,869 | 2,952 | ||||||||
Operating costs | (31,227 | ) | (35,460 | ) | ||||||
Real estate taxes | (43,326 | ) | (45,725 | ) | ||||||
Net operating income | $ | 206,665 | $ | 222,892 | ||||||
Operating Ratios | ||||||||||
NOI margin (NOI / revenues) (1) | 73.5 | % | 73.3 | % | ||||||
Expense recovery ratio (expense reimbursements / (operating costs + real estate taxes)) | 87.1 | % | 87.3 | % | ||||||
Reconciliation of Net Operating Income to Net Income | ||||||||||
Net operating income | $ | 206,665 | $ | 222,892 | ||||||
Lease termination fees | 769 | 1,531 | ||||||||
Straight-line rental income, net | 5,036 | 3,097 | ||||||||
Accretion of above- and below-market leases and tenant inducements, net | 4,116 | 6,055 | ||||||||
Straight-line ground rent expense (2) | (31 | ) | (30 | ) | ||||||
Depreciation and amortization | (85,395 | ) | (90,383 | ) | ||||||
Impairment of real estate assets | (3,112 | ) | (15,902 | ) | ||||||
General and administrative | (25,443 | ) | (22,426 | ) | ||||||
Total other expense | (39,705 | ) | (43,812 | ) | ||||||
Net income | $ | 62,900 | $ | 61,022 | ||||||
Supplemental Statement of Operations Detail | ||||||||||
Rental income (3) | ||||||||||
Base rent | $ | 211,069 | $ | 228,687 | ||||||
Expense reimbursements | 64,954 | 70,878 | ||||||||
Revenues deemed uncollectible | (2,844 | ) | — | |||||||
Lease termination fees | 769 | 1,531 | ||||||||
Straight-line rental income, net | 5,036 | 3,097 | ||||||||
Accretion of above- and below-market leases and tenant inducements, net | 4,116 | 6,055 | ||||||||
Ancillary and other rental income | 3,986 | 3,597 | ||||||||
Percentage rents | 2,869 | 2,952 | ||||||||
Total rental income | $ | 289,955 | $ | 316,797 | ||||||
Other revenues | $ | 1,184 | $ | 378 | ||||||
Interest expense | ||||||||||
Mortgage, note and other interest | $ | 33,033 | $ | 44,482 | ||||||
Unsecured credit facility and term loan interest | 12,004 | 10,613 | ||||||||
Capitalized interest | (626 | ) | (654 | ) | ||||||
Deferred financing cost amortization | 1,787 | 1,682 | ||||||||
Debt premium/discount amortization, net | 468 | (952 | ) | |||||||
Total interest expense | $ | 46,666 | $ | 55,171 | ||||||
Other | ||||||||||
Federal and state taxes | $ | 755 | $ | 214 | ||||||
Other | 63 | (161 | ) | |||||||
Total other | $ | 818 | $ | 53 | ||||||
Additional G&A Disclosures | ||||||||||
Capitalized construction compensation costs | $ | 3,323 | $ | 2,224 | ||||||
Capitalized leasing legal costs (4) | — | 824 | ||||||||
Capitalized leasing payroll costs (4) | $ | — | $ | 2,130 | ||||||
Capitalized leasing commission costs | 1,189 | 1,472 | ||||||||
Total capitalized leasing compensation costs | $ | 1,189 | $ | 3,602 | ||||||
Equity based compensation | $ | 2,477 | $ | 2,484 | ||||||
(1) NOI margin includes the impact of Revenues deemed uncollectible / Provision for doubtful accounts within Revenues for both periods presented. | ||||||||||
(2) Straight-line ground rent expense is included in Operating costs on the Consolidated Statements of Operations. | ||||||||||
(3) In connection with the Company’s adoption of ASC 842 on January 1, 2019, Rental income includes Expense reimbursements and Percentage rents for all periods presented. Additionally, for the three months ended March 31, 2019, Rental income is presented net of Revenues deemed uncollectible. | ||||||||||
(4) In connection with the Company’s adoption of ASC 842 on January 1, 2019, the Company is no longer capitalizing such costs. | ||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 10 | ![]() |
SAME PROPERTY NOI ANALYSIS | |||||||||||||
Unaudited, dollars in thousands | |||||||||||||
Three Months Ended | |||||||||||||
3/31/19 | 3/31/18 | Change | |||||||||||
Same Property NOI Analysis | |||||||||||||
Number of properties | 420 | 420 | — | ||||||||||
Percent billed | 87.5 | % | 89.5 | % | (2.0%) | ||||||||
Percent leased | 91.1 | % | 92.0 | % | (0.9%) | ||||||||
Revenues (1) | |||||||||||||
Base rent | $ | 209,706 | $ | 206,364 | |||||||||
Expense reimbursements | 64,460 | 64,489 | |||||||||||
Revenues deemed uncollectible | (2,843 | ) | — | ||||||||||
Ancillary and other rental income / Other revenues | 5,123 | 3,561 | |||||||||||
Percentage rents | 2,869 | 2,893 | |||||||||||
279,315 | 277,307 | 0.7% | |||||||||||
Operating expenses | |||||||||||||
Operating costs | (30,888 | ) | (31,930 | ) | |||||||||
Real estate taxes | (43,001 | ) | (41,900 | ) | |||||||||
Provision for doubtful accounts | — | (2,153 | ) | ||||||||||
(73,889 | ) | (75,983 | ) | (2.8%) | |||||||||
Same property NOI | $ | 205,426 | $ | 201,324 | 2.0% | ||||||||
NOI margin (1)(2) | 73.5 | % | 73.2 | % | |||||||||
Expense recovery ratio | 87.2 | % | 87.3 | % | |||||||||
Percent Contribution to Same Property NOI Growth: | |||||||||||||
Change | Percent Contribution | ||||||||||||
Base rent | $ | 3,342 | 1.6% | ||||||||||
Revenues deemed uncollectible / Provision for doubtful accounts | (690 | ) | (0.3%) | ||||||||||
Net recoveries | (88 | ) | (0.0%) | ||||||||||
Ancillary and other rental income / Other revenues | 1,562 | 0.7% | |||||||||||
Percentage rents | (24 | ) | (0.0%) | ||||||||||
2.0% | |||||||||||||
Reconciliation of Net Income to Same Property NOI | |||||||||||||
Same property NOI | $ | 205,426 | $ | 201,324 | |||||||||
Adjustments: | |||||||||||||
Non-same property NOI | 1,239 | 21,568 | |||||||||||
Lease termination fees | 769 | 1,531 | |||||||||||
Straight-line rental income, net | 5,036 | 3,097 | |||||||||||
Accretion of above- and below-market leases and tenant inducements, net | 4,116 | 6,055 | |||||||||||
Straight-line ground rent expense | (31 | ) | (30 | ) | |||||||||
Depreciation and amortization | (85,395 | ) | (90,383 | ) | |||||||||
Impairment of real estate assets | (3,112 | ) | (15,902 | ) | |||||||||
General and administrative | (25,443 | ) | (22,426 | ) | |||||||||
Total other expense | (39,705 | ) | (43,812 | ) | |||||||||
Net income | $ | 62,900 | $ | 61,022 | |||||||||
(1) In connection with the Company’s adoption of ASC 842 on January 1, 2019, Revenues is presented net of Revenues deemed uncollectible for the three months ended March 31, 2019. | |||||||||||||
(2) NOI margin includes the impact of Revenues deemed uncollectible / Provision for doubtful accounts within Revenues for both periods presented. | |||||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 11 | ![]() |
CAPITAL EXPENDITURES | ||||||||||
Unaudited, dollars in thousands | ||||||||||
Three Months Ended | ||||||||||
3/31/19 | 3/31/18 | |||||||||
Leasing related: | ||||||||||
Tenant improvements and tenant inducements | $ | 14,912 | $ | 20,423 | ||||||
External leasing commissions | 1,848 | 3,033 | ||||||||
16,760 | 23,456 | |||||||||
Value-enhancing: | ||||||||||
Anchor space repositionings | 15,017 | 10,793 | ||||||||
Outparcel developments | 2,105 | 1,103 | ||||||||
Redevelopments | 22,198 | 13,002 | ||||||||
New development | 1,188 | 2,729 | ||||||||
Other (1) | 2,792 | 812 | ||||||||
43,300 | 28,439 | |||||||||
Maintenance capital expenditures (2) | 5,847 | 3,630 | ||||||||
Total capital expenditures | $ | 65,907 | $ | 55,525 | ||||||
(1) Includes, but is not limited to, minor value-enhancing projects, LED lighting upgrades and solar array installations. | ||||||||||
(2) Excludes costs related to Hurricane Michael recoveries, as they are expected to be reimbursed by the Company's insurance carrier. | ||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 12 | ![]() |
CAPITALIZATION, LIQUIDITY & DEBT RATIOS | ||||||||||||||||
Unaudited, dollars and shares in thousands except per share amounts | ||||||||||||||||
As of | As of | |||||||||||||||
3/31/19 | 12/31/18 | |||||||||||||||
Equity Capitalization: | ||||||||||||||||
Common shares outstanding | 297,987 | 298,489 | ||||||||||||||
Common share price | $ | 18.37 | $ | 14.69 | ||||||||||||
Total equity capitalization | $ | 5,474,021 | $ | 4,384,803 | ||||||||||||
Debt: | ||||||||||||||||
Revolving credit facility | $ | 291,000 | $ | 306,000 | ||||||||||||
Term loans | 1,150,000 | 1,150,000 | ||||||||||||||
Unsecured notes | 3,468,453 | 3,468,453 | ||||||||||||||
Secured mortgages | 7,000 | 7,000 | ||||||||||||||
Total principal debt | 4,916,453 | 4,931,453 | ||||||||||||||
Less: Net unamortized discount | (10,832 | ) | (11,300 | ) | ||||||||||||
Less: Deferred financing fees | (32,556 | ) | (34,290 | ) | ||||||||||||
Total debt | 4,873,065 | 4,885,863 | ||||||||||||||
Less: Cash, cash equivalents and restricted cash | (3,406 | ) | (50,765 | ) | ||||||||||||
Net debt | $ | 4,869,659 | $ | 4,835,098 | ||||||||||||
Total market capitalization: | $ | 10,343,680 | $ | 9,219,901 | ||||||||||||
Liquidity: | ||||||||||||||||
Cash and cash equivalents and restricted cash | $ | 3,406 | $ | 50,765 | ||||||||||||
Available under revolving credit facility (1) | 954,748 | 938,813 | ||||||||||||||
$ | 958,154 | $ | 989,578 | |||||||||||||
Ratios: | ||||||||||||||||
Principal debt to total market capitalization | 47.5 | % | 53.5 | % | ||||||||||||
Principal debt to total assets, before depreciation | 46.5 | % | 46.6 | % | ||||||||||||
Secured principal debt to total assets, before depreciation | 0.1 | % | 0.1 | % | ||||||||||||
Net principal debt to Adjusted EBITDA (2)(3) | 6.4x | 6.2x | ||||||||||||||
Unencumbered assets to unsecured debt | 2.1x | 2.1x | ||||||||||||||
Interest coverage (Adjusted EBITDA / interest expense) (2) | 4.1x | 4.0x | ||||||||||||||
Fixed charge coverage (Adjusted EBITDA / (interest expense + scheduled principal payments)) (2) | 4.1x | 3.9x | ||||||||||||||
As of | As of | |||||||||||||||
3/31/19 | 12/31/18 | |||||||||||||||
Percentage of total debt: | ||||||||||||||||
Fixed | 81.9 | % | 83.7 | % | ||||||||||||
Variable | 18.1 | % | 16.3 | % | ||||||||||||
Unencumbered summary: | ||||||||||||||||
Percent of properties | 99.8 | % | 99.8 | % | ||||||||||||
Percent of ABR | 99.9 | % | 99.9 | % | ||||||||||||
Percent of NOI | 99.9 | % | 99.9 | % | ||||||||||||
Weighted average maturity (years): | ||||||||||||||||
Fixed | 5.2 | 5.4 | ||||||||||||||
Variable | 3.9 | 4.3 | ||||||||||||||
Total | 5.0 | 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 $4,252. | ||||||||||||||||
(2) For purposes of financial ratios, Adjusted EBITDA is annualized based on the current quarter results. | ||||||||||||||||
(3) The Company capitalized $3.2 million, or 0.1x, of leasing payroll and legal costs during the three months ended December 31, 2018. In connection with the Company’s adoption of ASC 842 on January 1, 2019, the Company is no longer capitalizing such costs. | ||||||||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 13 | ![]() |
DEBT OVERVIEW | ||||||||||||||||||||||||
Unaudited, dollars in thousands | ||||||||||||||||||||||||
Maturity Schedule - Debt obligations | ||||||||||||||||||||||||
Year | Maturities | Weighted Avg Stated Interest Rate | ||||||||||||||||||||||
2019 | $ | — | — | |||||||||||||||||||||
2020 | — | — | ||||||||||||||||||||||
2021 | 500,000 | 2.36 | % | |||||||||||||||||||||
2022 | 750,000 | 3.85 | % | |||||||||||||||||||||
2023 | 1,141,000 | 3.49 | % | |||||||||||||||||||||
2024 | 807,000 | 3.98 | % | |||||||||||||||||||||
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 | $ | 4,916,453 | 3.69 | % | ||||||||||||||||||||
Net unamortized discount | (10,832 | ) | ||||||||||||||||||||||
Deferred financing costs | (32,556 | ) | ||||||||||||||||||||||
Debt obligations, net | $ | 4,873,065 | ||||||||||||||||||||||
Detailed Maturity Schedule - Debt obligations | ||||||||||||||||||||||||
Fixed Rate Secured Mortgages | Variable Rate and Fixed Rate Unsecured Notes | Variable Rate and Fixed Rate Unsecured Credit Facility / Term Loans | ||||||||||||||||||||||
Year | Maturities | Weighted Avg Stated Interest Rate | Maturities | Weighted Avg Stated Interest Rate | Maturities | Weighted Avg Stated Interest Rate | ||||||||||||||||||
2019 | $ | — | — | $ | — | — | $ | — | — | |||||||||||||||
2020 | — | — | — | — | — | — | ||||||||||||||||||
2021 | — | — | — | — | 500,000 | 2.36 | % | |||||||||||||||||
2022 | — | — | 750,000 | 3.85 | % | — | — | |||||||||||||||||
2023 | — | — | 500,000 | 3.25 | % | 641,000 | 3.67 | % | ||||||||||||||||
2024 | 7,000 | 4.40 | % | 500,000 | 3.65 | % | 300,000 | 4.51 | % | |||||||||||||||
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 | 3.81 | % | $ | 1,441,000 | 3.39 | % | ||||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 14 | ![]() |
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 | 10.17 | ||||||||||
Term Loan Facility - $300,000 (2)(3) | 300,000 | 4.51 | 7/26/24 | 6.10 | ||||||||||
TOTAL UNSECURED FIXED RATE DEBT | 800,000 | 3.17 | 16.27 | |||||||||||
Unsecured Notes | ||||||||||||||
3.88%, 2022 Brixmor OP Notes | 500,000 | 3.88 | 8/15/22 | 10.17 | ||||||||||
3.25%, 2023 Brixmor OP Notes | 500,000 | 3.25 | 9/15/23 | 10.17 | ||||||||||
3.65%, 2024 Brixmor OP Notes | 500,000 | 3.65 | 6/15/24 | 10.17 | ||||||||||
3.85%, 2025 Brixmor OP Notes | 700,000 | 3.85 | 2/1/25 | 14.24 | ||||||||||
4.13%, 2026 Brixmor OP Notes | 600,000 | 4.13 | 6/15/26 | 12.20 | ||||||||||
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 | 8.14 | ||||||||||
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 | 0.07 | ||||||||||
TOTAL FIXED RATE UNSECURED NOTES | 3,218,453 | 3.81 | 65.47 | |||||||||||
TOTAL FIXED RATE DEBT | $ | 4,025,453 | 3.68 | 81.88 | ||||||||||
VARIABLE RATE DEBT: | ||||||||||||||
Unsecured variable rate debt | ||||||||||||||
2022 Brixmor OP Notes (LIBOR + 105 basis points) | $ | 250,000 | 3.79 | 2/1/22 | 5.08 | |||||||||
Revolving Credit Facility (LIBOR + 110 basis points) | 291,000 | 3.59 | 2/28/23 | 5.92 | ||||||||||
Term Loan Facility - $350,000 (LIBOR + 125 basis points) | 350,000 | 3.74 | 12/12/23 | 7.12 | ||||||||||
TOTAL UNSECURED VARIABLE RATE DEBT | 891,000 | 3.70 | 18.12 | |||||||||||
TOTAL VARIABLE RATE DEBT | $ | 891,000 | 3.70 | 18.12 | ||||||||||
TOTAL DEBT OBLIGATIONS | $ | 4,916,453 | 3.69 | 100.00 | ||||||||||
Net unamortized discount | (10,832 | ) | ||||||||||||
Deferred financing costs | (32,556 | ) | ||||||||||||
DEBT OBLIGATIONS, NET | $ | 4,873,065 | ||||||||||||
(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 January 2, 2019, the Term Loan Facility - $300,000 is swapped from one-month LIBOR to a fixed, combined rate of 2.611% (plus a spread of 190 basis points) through July 26, 2024. | ||||||||||||||
(3) The spread on the Term Loan Facility - $300,000 will be decreased from 190 basis points to 125 basis points effective July 28, 2019. | ||||||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 15 | ![]() |
COVENANT DISCLOSURE | |||||||||||
Unaudited, dollars in thousands | |||||||||||
Unsecured OP Notes Covenant Disclosure | |||||||||||
Covenants | 3/31/19 | ||||||||||
I. Aggregate debt test | < 65% | 47.2 | % | ||||||||
Total Debt | 4,873,065 | ||||||||||
Total Assets | 10,333,627 | ||||||||||
II. Secured debt test | < 40% | 0.1 | % | ||||||||
Total Secured Debt | 7,207 | ||||||||||
Total Assets | 10,333,627 | ||||||||||
III. Unencumbered asset ratio | > 150% | 212.0 | % | ||||||||
Total Unencumbered Assets | 10,314,276 | ||||||||||
Unsecured Debt | 4,865,858 | ||||||||||
IV. Debt service test | > 1.5x | 4.1x | |||||||||
Consolidated EBITDA | 777,360 | ||||||||||
Annual Debt Service Charge | 190,668 | ||||||||||
For detailed descriptions of the unsecured OP notes covenant calculations and definitions of capitalized terms please refer to the Prospectus Supplements filed SEC on January 15, 2015, August 3, 2015, June 6, 2016, August 17, 2016, March 3, 2017, June 2, 2017 and August 28, 2018 and by the OP with the incorporated therein by reference. | |||||||||||
Unsecured Credit Facility Covenant Disclosure | |||||||||||
Covenants | 3/31/19 | ||||||||||
I. Leverage ratio | < 60% | 38.3 | % | ||||||||
Total Outstanding Indebtedness | 4,916,453 | ||||||||||
Balance Sheet Cash (1) | 15,599 | ||||||||||
Total Asset Value | 12,809,545 | ||||||||||
II. Secured leverage ratio (2) | < 40% | N/A | |||||||||
Total Secured Indebtedness | 7,000 | ||||||||||
Balance Sheet Cash (1) | 15,599 | ||||||||||
Total Asset Value | 12,809,545 | ||||||||||
III. Unsecured leverage ratio | < 60% | 38.3 | % | ||||||||
Total Unsecured Indebtedness | 4,909,453 | ||||||||||
Unrestricted Cash (3) | 12,542 | ||||||||||
Unencumbered Asset Value | 12,792,741 | ||||||||||
IV. Fixed charge coverage ratio | > 1.5x | 4.5x | |||||||||
Total Net Operating Income | 832,431 | ||||||||||
Capital Expenditure Reserve | 10,979 | ||||||||||
Fixed Charges | 184,248 | ||||||||||
(1) Balance Sheet Cash consists of cash and cash equivalents, restricted cash and certain marketable securities. | |||||||||||
(2) The secured leverage ratio is (0.1%) due to the impact of Balance Sheet Cash. | |||||||||||
(3) Unrestricted Cash consists of cash and cash equivalents and certain marketable securities. | |||||||||||
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 SEC on February 11, 2019. | |||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 16 | ![]() |
INVESTMENT SUMMARY | |||||||||||||
Supplemental Disclosure Three Months Ended March 31, 2019 | |||||||||||||
ACQUISITIONS | ||||||||||||||||
Dollars in thousands, except ABR PSF | ||||||||||||||||
Property Name | MSA | Purchase Date | Purchase Price | GLA / Acres | Percent Leased | ABR PSF | Major Tenants | |||||||||
There were no acquisitions completed during the three months ended March 31, 2019. | ||||||||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 18 | ![]() |
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, 2019 | |||||||||||||||||||||
Applegate Ranch Shopping Center | Merced, CA | 2/1/19 | $ | 24,700 | 153,721 | 96.3 | % | $ | 16.71 | Marshall's, Petco | |||||||||||
Forest Hills Village | Dallas-Fort Worth-Arlington, TX | 2/13/19 | 5,400 | 69,651 | 100.0 | % | 5.87 | Foodland Markets, Family Dollar, Hi Style Fashion | |||||||||||||
Green Acres | Saginaw, MI | 3/8/19 | 16,000 | 244,005 | 89.9 | % | 15.41 | Kroger, Planet Fitness, Rite Aid | |||||||||||||
$ | 46,100 | 467,377 | |||||||||||||||||||
TOTAL - THREE MONTHS ENDED MARCH 31, 2019 | $ | 46,100 | 467,377 | ||||||||||||||||||
(1) ABR PSF excludes the GLA of lessee owned leasehold improvements. | |||||||||||||||||||||
Major tenants includes only owned tenants. | |||||||||||||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 19 | ![]() |
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 March 31, 2019 | ||||||||||||||||||||
1 | Perkins Farm Marketplace | Worcester, MA-CT | Remerchandise and expand former Fallas with a 35K SF Ollie's Bargain Outlet | |||||||||||||||||
2 | Cayuga Mall | Ithaca, NY | Remerchandise former T.J.Maxx with a 20K SF Planet Fitness and a 10K SF junior anchor and renovate existing Big Lots in conjunction with store remodel | |||||||||||||||||
3 | Florence Plaza - Florence Square - Project II | Cincinnati, OH-KY-IN | Remerchandise former hhgregg with a 31K SF Bob’s Furniture and a 27K SF Ross Dress for Less | |||||||||||||||||
In Process Projects | ||||||||||||||||||||
4 | Cudahy Plaza | Los Angeles-Long Beach-Anaheim, CA | Remerchandise former Kmart with a 40K SF Chuze Fitness, a 25K SF junior anchor and additional small shop space | |||||||||||||||||
5 | 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 | |||||||||||||||||
6 | Superior Marketplace | Boulder, CO | Remerchandise former Sports Authority with a 23K SF Stickley Furniture and a 17K SF Goldfish Swim School | |||||||||||||||||
7 | Northgate Shopping Center | Deltona-Daytona Beach-Ormond Beach, FL | Remerchandise former Sears Essentials with a 45K SF Big Lots, a 33K SF Tractor Supply, a 22K SF Planet Fitness and additional small shop space | |||||||||||||||||
8 | Clearwater Mall | Tampa-St. Petersburg-Clearwater, FL | Remerchandise former hhgregg with a 35K SF Burlington Stores | |||||||||||||||||
9 | 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 | |||||||||||||||||
10 | 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 | |||||||||||||||||
11 | Market Centre | Elkhart-Goshen, IN | Remerchandise former MC Sports with a 21K SF JOANN | |||||||||||||||||
12 | London Marketplace | London, KY | Remerchandise former Kmart with a 36K SF Kohl's, a 24K SF Marshalls, a 22K SF Planet Fitness and a 9K SF Five Below | |||||||||||||||||
13 | Arborland Center | Ann Arbor, MI | Remerchandise former Toys"R"Us with a 48K SF Gardner White Furniture | |||||||||||||||||
14 | 18 Ryan | Detroit-Warren-Dearborn, MI | Remerchandise former Kroger with a 39K SF Dream Market grocer and a 13K SF RedLine Athletics | |||||||||||||||||
15 | Delco Plaza | Detroit-Warren-Dearborn, MI | Remerchandise former Babies"R"Us with a 55K SF Urban Air Adventure Park | |||||||||||||||||
16 | Ellisville Square | St. Louis, MO-IL | Remerchandise and expand former Sports Authority with a 22K SF ALDI and a 15K SF Petco | |||||||||||||||||
17 | 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 and an 11K SF Dollar Tree | |||||||||||||||||
18 | 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 | |||||||||||||||||
19 | 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 | |||||||||||||||||
20 | Franklin Square - Project II | Charlotte-Concord-Gastonia, NC-SC | Remerchandise former Fallas with an 11K SF Five Below | |||||||||||||||||
21 | Florence Plaza - Florence Square - Project I | 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 | |||||||||||||||||
22 | Dickson City Crossings | Scranton--Wilkes-Barre--Hazleton, PA | Remerchandise former Dick's Sporting Goods with a 41K SF Burlington Stores and an additional junior anchor | |||||||||||||||||
23 | 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 | |||||||||||||||||
24 | Kingston Overlook | Knoxville, TN | Remerchandise former Babies"R"Us with a 42K SF Urban Air Adventure Park | |||||||||||||||||
25 | Williamson Square | Nashville-Davidson--Murfreesboro--Franklin, TN | Remerchandise former Tuesday Morning with a 10K SF Goldfish Swim School and a 4K SF Burn Boot Camp | |||||||||||||||||
26 | Crossroads Centre - Pasadena | Houston-The Woodlands-Sugar Land, TX | Remerchandise and expand former Sears Outlet with a 34K SF LA Fitness and additional small shop space | |||||||||||||||||
27 | Maplewood | Houston-The Woodlands-Sugar Land, TX | Relocate and expand Burke’s Outlet to 21K SF, combining underutilized small shop space | |||||||||||||||||
28 | Tanglewilde Center | Houston-The Woodlands-Sugar Land, TX | Remerchandise and expand former Ace Hardware with a 19K SF ALDI and additional small shop space | |||||||||||||||||
29 | Texas City Bay | Houston-The Woodlands-Sugar Land, TX | Remerchandise former Marathon Oil office space with a 42K SF Conn's, a 22K SF Planet Fitness, a 19K SF Harbor Freight and additional retail space | |||||||||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 20 | ![]() |
ANCHOR SPACE REPOSITIONING SUMMARY | ||||||||||||||||||||
Dollars in thousands | ||||||||||||||||||||
Property Name | MSA | Description | ||||||||||||||||||
30 | Ridgeview Centre | Big Stone Gap, VA | Remerchandise remaining former Kmart space with a 20K SF Marshalls and an additional junior anchor | |||||||||||||||||
31 | Hilltop Plaza | Virginia Beach-Norfolk-Newport News, VA-NC | Relocate and expand JOANN to 24K SF, replacing a former Office Depot and remerchandise former JOANN with a 10K SF Ulta | |||||||||||||||||
Number of Projects | Net Estimated Costs (1) | Gross Costs to Date | Expected NOI Yield (1) | |||||||||||||||||
Total In Process | 31 | $ | 117,850 | $ | 46,250 | 9% - 14% | ||||||||||||||
COMPLETED ANCHOR SPACE REPOSITIONINGS | ||||||||||||||||||||
Projects Completed During The Three Months Ended March 31, 2019 | ||||||||||||||||||||
1 | Springdale - Phase I | Mobile, AL | Reconfigure two-level former Belk building and remerchandise with a 25K SF Bed Bath & Beyond, a 20K SF Shoe Station and an 18K SF Cost Plus World Market | |||||||||||||||||
2 | Springdale - Phase II | Mobile, AL | Relocate and rightsize existing Burlington Stores to 47K SF and remerchandise former Old Navy with an 18K SF Burke's Outlet | |||||||||||||||||
3 | Arapahoe Crossings | Denver-Aurora-Lakewood, CO | Remerchandise former Gordmans with a 40K SF Burlington Stores and a 15K SF Planet Fitness | |||||||||||||||||
4 | Bedford Grove | Manchester-Nashua, NH | Remerchandise former Hannaford with a 36K SF Bed Bath & Beyond and a 21K SF Boston Interiors | |||||||||||||||||
5 | The Commons at Wolfcreek | Memphis, TN-MS-AR | Remerchandise former hhgregg with a 39K SF Painted Tree Marketplace | |||||||||||||||||
Number of Projects | Net Project Costs (1) | NOI Yield (1) | ||||||||||||||||||
Total Completed | 5 | $ | 29,650 | 6 | % | |||||||||||||||
(1) Represents gross project costs less any project specific credits (lease termination fees or other ancillary credits). | ||||||||||||||||||||
The in process projects listed above are actively underway and reflect projects for which leases have been executed with the tenant(s) listed in the project descriptions. There is no guarantee that the Company will complete any or all of these projects, or | ||||||||||||||||||||
that the net estimated costs or expected NOI yields will be the amounts shown. The net estimated costs and expected NOI yields are management's best estimates based on current information and may change over time. For more information, please | ||||||||||||||||||||
refer to the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. | ||||||||||||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 21 | ![]() |
OUTPARCEL DEVELOPMENT SUMMARY | |||||||||||||||||||
Dollars in thousands | |||||||||||||||||||
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 March 31, 2019 | |||||||||||||||||||
1 | Northmall Centre | Tucson, AZ | Construction of a 2K SF Starbucks | Dec-19 | $ | 1,150 | $ | 100 | 8% | ||||||||||
2 | Winwood Town Center | Odessa, TX | Construction of a 7K SF Rodeo Dental | Dec-19 | 2,000 | 400 | 9% | ||||||||||||
In Process Projects | |||||||||||||||||||
3 | Arapahoe Crossings | Denver-Aurora-Lakewood, CO | Construction of a 6K SF multi-tenant outparcel with a 4K SF Fuzzy's Taco Shop and a 2K SF Dunkin' | Sep-19 | 2,400 | 2,100 | 9% | ||||||||||||
4 | Banks Station | Atlanta-Sandy Springs-Roswell, GA | Construction of a 2K SF Del Taco | Sep-19 | 400 | 250 | 20% | ||||||||||||
5 | Westridge Court | Chicago-Naperville-Elgin, IL-IN-WI | Construction of an 8K SF Lazy Dog Restaurant and Bar | Dec-19 | 2,200 | 350 | 6% | ||||||||||||
6 | 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 | 2,850 | 2,700 | 15% | ||||||||||||
7 | 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 | 2,550 | 11% | ||||||||||||
8 | 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 | 2,050 | 9% | ||||||||||||
9 | Park Hills Plaza | Altoona, PA | Construction of a 10K SF multi-tenant outparcel, including a 3K SF Sleep Number, a 2K SF Starbucks and a 1K SF Sports Clips | Sep-20 | 3,900 | 900 | 9% | ||||||||||||
TOTAL IN PROCESS OUTPARCEL DEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE | $ | 22,200 | $ | 11,400 | 10% | ||||||||||||||
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 March 31, 2019 | |||||||||||||||||||
1 | Westview Center | Chicago-Naperville-Elgin, IL-IN-WI | Construction of a 4K SF Andigo Credit Union | Mar-19 | $ | 200 | 60% | ||||||||||||
2 | 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 | 8% | |||||||||||||
3 | The Shoppes at Cinnaminson | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | Construction of a 3K SF Chase | Mar-19 | 1,200 | 15% | |||||||||||||
4 | Milestone Plaza | Greenville-Anderson-Mauldin, SC | Construction of a 5K SF Panera | Mar-19 | 500 | 8% | |||||||||||||
5 | Fry Road Crossing | Houston-The Woodlands-Sugar Land, TX | Construction of a 4K SF Freddy's Frozen Custard and Steakburgers | Mar-19 | 100 | 115% | |||||||||||||
TOTAL COMPLETED OUTPARCEL DEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE | $ | 5,100 | 14% | ||||||||||||||||
(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 March 31, 2019 | Page 22 | ![]() |
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 March 31, 2019 | |||||||||||||||||||||
1 | Carmel Village | Corpus Christi, TX | Redevelopment and reconfiguration of former Beall's and multiple adjacent small shop spaces with a 24K SF Crunch Fitness and a 9K SF Dollar Tree; and shopping center upgrades including façade renovations | 7 | Mar-20 | $ | 3,100 | $ | 350 | 9 | |||||||||||
2 | Jester Village | Houston-The Woodlands-Sugar Land, TX | Recapture and redevelopment of former H-E-B and adjacent junior anchor vacancy with a 37K SF 24 Hour Fitness and additional retailers; and shopping center upgrades including façade and parking lot renovations | 5 | Mar-20 | 9,400 | 850 | 9 | |||||||||||||
3 | Speedway Super Center - Phase II | Indianapolis-Carmel-Anderson, IN | Redevelop and rightsize existing Kohl's to 60K SF to accommodate additional retailers; combine small shop spaces for a 12K SF Department of Motor Vehicles; and shopping center upgrades including façade renovations and parking lot and lighting enhancements | 66 | Sep-20 | 7,900 | 250 | 10 | |||||||||||||
4 | Marco Town Center | Naples-Immokalee-Marco Island, FL | Remerchandise existing small shop spaces and extensive shopping center upgrades including façade, landscaping, lighting and signage enhancements, parking lot reconfiguration and common area improvements including addition of outdoor dining patios and gathering areas | 10 | Mar-21 | 9,950 | 550 | 10 | |||||||||||||
5 | Hamilton Plaza | Trenton, NJ | Redevelopment of former Kmart with a 75K SF Urban Air Adventure Park and a 10K SF Dollar Tree; construction of a 6K SF outparcel; and shopping center upgrades including façade, parking and lighting enhancements | 18 | Mar-21 | 12,150 | 1,600 | 8 | |||||||||||||
6 | Pointe Orlando - Phase I | Orlando-Kissimmee-Sanford, FL | Remerchandise existing small shop retail with relevant retailers including an 11K SF Hampton Social and a 4K SF Hopdoddy Burger Bar; rebranding and reconfiguration of the center; and extensive shopping center upgrades including facade, landscaping and lighting upgrades and common area enhancements including public seating areas, addition of digital directories and kiosks and improved pedestrian plazas | 17 | Sep-21 | 31,900 | 1,750 | 8 | |||||||||||||
In Process Projects | |||||||||||||||||||||
7 | 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 | 6,450 | 5,500 | 10 | |||||||||||||
8 | Marlton Crossing | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | Redevelopment and rightsize existing Burlington Stores 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 | 16,050 | 8,800 | 7 | |||||||||||||
9 | 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 | 20,800 | 13,300 | 9 | |||||||||||||
10 | Beneva Village Shoppes | North Port-Sarasota-Bradenton, FL | Demolish and rebuild 30-year old 42K SF Publix with a 46K SF Publix prototype and new endcap space next to Publix; right-size small shop GLA by 6K SF; shopping center upgrades include façade, landscaping and parking enhancements; and sustainable features including smart irrigation and LED Lighting | 14 | Dec-19 | 10,300 | 3,200 | 10 | |||||||||||||
11 | 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; and shopping center upgrades including façade renovations and pylon sign upgrades | 16 | Dec-19 | 3,700 | 450 | 9 | |||||||||||||
12 | Mamaroneck Centre | New York-Newark-Jersey City, NY-NJ-PA | Redevelopment of former A&P with a 12K SF CVS and a 13K SF North Shore Farms; demolish adjacent 5K SF residential building (acquired in anticipation of redevelopment) to accommodate construction of 12K SF of small shop retail; and shopping center upgrades including landscaping, storm water and parking enhancements and LED lighting | 2 | Jun-20 | 11,800 | 8,750 | 11 | |||||||||||||
13 | 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 | |||||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 23 | ![]() |
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 | 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 | 6,450 | 3,900 | 8 | |||||||||||||
15 | 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 | 8,900 | 200 | 9 | |||||||||||||
16 | 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-20 | 10,450 | 7,200 | 9 | |||||||||||||
17 | 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 73K SF Maya Cinemas and a 34K SF LA Fitness | 65 | Sep-20 | 21,250 | 6,050 | 8 | |||||||||||||
18 | 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, a 5K SF Sola Salon and a 5K SF Carter’s; and shopping center upgrades including façade renovations and common area enhancements | 31 | Dec-20 | 16,400 | 12,850 | 7 | |||||||||||||
19 | 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 | 6,350 | 900 | 9 | |||||||||||||
20 | 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 | 1,200 | 8 | |||||||||||||
21 | 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 | 39,150 | 14,400 | 9 | |||||||||||||
TOTAL IN PROCESS REDEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE | $ | 267,500 | $ | 93,700 | 9 | ||||||||||||||||
(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). | |||||||||||||||||||||
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 March 31, 2019 | Page 24 | ![]() |
FUTURE REDEVELOPMENT OPPORTUNITIES | ||||||||
Property Name | MSA | Project Description | ||||||
MAJOR REDEVELOPMENTS | ||||||||
1 | University Mall | Sacramento--Roseville--Arden-Arcade, CA | Extensive repositioning and reconfiguration with experiential retailers, densification of site, potential residential component | |||||
2 | Village at Mira Mesa - Future Phases | San Diego-Carlsbad, CA | Redevelopment of outparcels for multiple retailers and/or restaurants, potential residential rental component, enhancement of common areas | |||||
3 | 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 | |||||
4 | Shops at Palm Lakes | Miami-Fort Lauderdale-West Palm Beach, FL | Redevelopment of existing anchor space for multiple retailers and/or entertainment users, potential outparcel development | |||||
5 | Pointe Orlando - Future Phases | Orlando-Kissimmee-Sanford, FL | Redevelopment, densification and rebranding for multiple retailers, hospitality, and/or entertainment users | |||||
6 | Northeast Plaza | Atlanta-Sandy Springs-Roswell, GA | Redevelopment of existing anchor space, adjacent retail space, façade renovation with potential multi-family component | |||||
7 | Arborland Center | Ann Arbor, MI | Redevelopment and repositioning of shopping center, densification of site | |||||
8 | Richfield Hub | Minneapolis-St. Paul-Bloomington, MN-WI | Redevelopment and repositioning of shopping center, densification of site | |||||
9 | Roosevelt Mall - Future Phases | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | Extensive repositioning and reconfiguration, densification of site | |||||
10 | Market Plaza | Dallas-Fort Worth-Arlington, TX | Extensive redevelopment and repositioning of shopping center, remerchandise with multiple retailers | |||||
11 | Preston Park Village | Dallas-Fort Worth-Arlington, TX | Repurpose, assemble and reposition for national retail merchandise mix, densification of site, enhancement of common areas | |||||
12 | Wynnewood Village - Future Phases (1) | Dallas-Fort Worth-Arlington, TX | Redevelopment and repositioning of shopping center, densification of site | |||||
13 | Spring Mall | Milwaukee-Waukesha-West Allis, WI | Extensive redevelopment and reconfiguration of shopping center, potential outparcel development | |||||
MINOR REDEVELOPMENTS | ||||||||
1 | Springdale - Future Phases | Mobile, AL | Further repositioning of existing anchor space for multiple retailers, potential outparcel development | |||||
2 | Carmen Plaza | Oxnard-Thousand Oaks-Ventura, CA | Reconfiguration of obsolete space and repurpose for national retailers, enhancement of common areas, sustainability upgrades | |||||
3 | Upland Town Square (1) | Riverside-San Bernardino-Ontario, CA | Densification of site, including outparcel development | |||||
4 | Fox Run | Washington-Arlington-Alexandria, DC-VA-MD-WV | Redevelopment of existing anchor spaces for multiple retailers, potential outparcel development, enhancement of common areas | |||||
5 | North Dover Center | Dover, DE | Redevelopment of existing anchor space for multiple retailers, potential outparcel development. | |||||
6 | Venetian Isle Shopping Ctr | Miami-Fort Lauderdale-West Palm Beach, FL | Redevelopment of existing anchor space for new anchor prototype, potential outparcel development | |||||
7 | Freedom Square | Naples-Immokalee-Marco Island, FL | Redevelopment of existing anchor space for multiple retailers and/or entertainment users, potential outparcel development | |||||
8 | 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 | |||||
9 | Venice Village Shoppes (1) | North Port-Sarasota-Bradenton, FL | Redevelopment of existing anchor space for new anchor prototype and façade renovation | |||||
10 | Mansell Crossing | Atlanta-Sandy Springs-Roswell, GA | Redevelopment of existing anchor space and adjacent retail space for multiple retailers | |||||
11 | Westgate (1) | Dublin, GA | Reconfiguration of existing footprint for new anchor space | |||||
12 | Rivercrest Shopping Center | Chicago-Naperville-Elgin, IL-IN-WI | Redevelopment of existing anchor space for multiple retailers | |||||
13 | Tinley Park Plaza | Chicago-Naperville-Elgin, IL-IN-WI | Reconfiguration of existing footprint for multiple retailers and/or entertainment users, outparcel development | |||||
14 | Westridge Court (1) | Chicago-Naperville-Elgin, IL-IN-WI | Redevelopment of existing anchor space, adjacent retail space and façade renovation | |||||
15 | Market Centre | Elkhart-Goshen, IN | Densification of site, including several multi-tenant outparcel buildings | |||||
16 | WaterTower Plaza | Worcester, MA-CT | Redevelopment of existing anchor space for multiple retailers | |||||
17 | Capitol Shopping Center | Concord, NH | Redevelopment of existing anchor space for multiple retailers | |||||
18 | Laurel Square | New York-Newark-Jersey City, NY-NJ-PA | Redevelopment of additional anchor space for multiple retailers, enhancement of common areas | |||||
19 | Stewart Plaza | New York-Newark-Jersey City, NY-NJ-PA | Reconfigure existing anchor space and remerchandise for multiple retailers | |||||
20 | Western Hills Plaza | Cincinnati, OH-KY-IN | Redevelopment of existing anchor space for multiple retailers, enhancement of common areas | |||||
21 | Lehigh Shopping Center (1) | Allentown-Bethlehem-Easton, PA-NJ | Redevelopment of existing anchor spaces, façade renovation and remerchandise with multiple retailers | |||||
22 | Bristol Park | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | Redevelopment of existing anchor spaces for multiple retailers, potential outparcel development, enhancement of common areas | |||||
23 | 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 | |||||
24 | Whitemarsh Shopping Center | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | Densification of site, including outparcel development | |||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 25 | ![]() |
FUTURE REDEVELOPMENT OPPORTUNITIES | ||||||||
Property Name | MSA | Project Description | ||||||
25 | Hillcrest Market Place | Spartanburg, SC | Redevelopment of existing anchor space for multiple retailers, potential outparcel development, enhancement of common areas | |||||
26 | The Commons at Wolfcreek | Memphis, TN-MS-AR | Redevelopment of additional anchor space for multiple retailers, potential outparcel development | |||||
27 | Kessler Plaza | Dallas-Fort Worth-Arlington, TX | Remerchandise former discount grocer and existing small shop space | |||||
(1) Indicates project added to pipeline during the three months ended March 31, 2019. | ||||||||
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 March 31, 2019 | Page 26 | ![]() |
PORTFOLIO SUMMARY | |||||||||||||
Supplemental Disclosure Three Months Ended March 31, 2019 | |||||||||||||
Individual values herein may not add up to totals due to rounding. | |||||||||||||
PORTFOLIO OVERVIEW | ||||||||||||||||||||||||||||||
Dollars in thousands, except per square foot amounts | ||||||||||||||||||||||||||||||
As of: | ||||||||||||||||||||||||||||||
3/31/19 | 12/31/18 | 9/30/18 | 6/30/18 | 3/31/18 | ||||||||||||||||||||||||||
Number of properties | 422 | 425 | 445 | 471 | 480 | |||||||||||||||||||||||||
GLA | 73,192,186 | 73,673,124 | 76,577,108 | 79,997,289 | 81,732,582 | |||||||||||||||||||||||||
Percent billed | 87.5% | 88.4% | 89.4% | 89.4% | 89.8% | |||||||||||||||||||||||||
Percent leased | 91.1% | 91.9% | 92.5% | 92.5% | 92.1% | |||||||||||||||||||||||||
TOTAL ≥ 10,000 SF | 93.5% | 94.6% | 95.5% | 95.6% | 95.4% | |||||||||||||||||||||||||
TOTAL < 10,000 SF | 85.7% | 85.7% | 85.5% | 85.1% | 84.4% | |||||||||||||||||||||||||
ABR | $ | 887,463 | $ | 887,743 | $ | 911,116 | $ | 941,392 | $ | 943,734 | ||||||||||||||||||||
ABR PSF | $ | 14.32 | $ | 14.10 | $ | 13.89 | $ | 13.73 | $ | 13.61 | ||||||||||||||||||||
PORTFOLIO BY UNIT SIZE AS OF 3/31/19 | ||||||||||||||||||||||||||||||
Number of Units | GLA | Percent Billed | Percent Leased | Percent of Vacant GLA | ABR | ABR PSF | ||||||||||||||||||||||||
≥ 35,000 SF | 476 | 28,490,923 | 90.5% | 93.9% | 26.8% | $ | 234,753 | $ | 10.11 | |||||||||||||||||||||
20,000 - 34,999 SF | 515 | 13,551,722 | 87.9% | 93.0% | 14.6% | 133,632 | 10.81 | |||||||||||||||||||||||
10,000 - 19,999 SF | 650 | 8,911,429 | 88.9% | 92.8% | 9.8% | 111,223 | 13.81 | |||||||||||||||||||||||
5,000 - 9,999 SF | 1,199 | 8,251,663 | 85.4% | 87.5% | 15.8% | 120,625 | 17.55 | |||||||||||||||||||||||
< 5,000 SF | 6,655 | 13,986,449 | 81.4% | 84.7% | 33.0% | 287,230 | 25.03 | |||||||||||||||||||||||
TOTAL | 9,495 | 73,192,186 | 87.5% | 91.1% | 100.0% | $ | 887,463 | $ | 14.32 | |||||||||||||||||||||
TOTAL ≥ 10,000 SF | 1,641 | 50,954,074 | 89.5% | 93.5% | 51.2% | $ | 479,608 | $ | 10.99 | |||||||||||||||||||||
TOTAL < 10,000 SF | 7,854 | 22,238,112 | 82.9% | 85.7% | 48.8% | 407,855 | 22.23 | |||||||||||||||||||||||
Reflects portfolio statistics as reported for the specified period. | ||||||||||||||||||||||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 28 | ![]() |
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) | 87 | 2,692,001 | 3.7 | % | $ | 29,887 | 3.4 | % | $ | 11.10 | |||||||||||||||
2 | The Kroger Co. (2) | 52 | 3,416,042 | 4.7 | % | 25,245 | 2.8 | % | 7.39 | |||||||||||||||||
3 | Dollar Tree Stores, Inc. (3) | 133 | 1,524,607 | 2.1 | % | 16,272 | 1.8 | % | 10.67 | |||||||||||||||||
4 | Publix Super Markets, Inc. | 30 | 1,332,920 | 1.8 | % | 12,901 | 1.5 | % | 9.68 | |||||||||||||||||
5 | Albertson's Companies, Inc (4) | 20 | 1,122,477 | 1.5 | % | 12,110 | 1.4 | % | 10.79 | |||||||||||||||||
6 | Ahold Delhaize (5) | 21 | 1,163,367 | 1.6 | % | 11,987 | 1.4 | % | 10.30 | |||||||||||||||||
7 | Burlington Stores, Inc. | 21 | 1,219,473 | 1.7 | % | 11,786 | 1.3 | % | 9.66 | |||||||||||||||||
8 | L.A Fitness International, LLC | 15 | 629,515 | 0.9 | % | 10,469 | 1.2 | % | 16.63 | |||||||||||||||||
9 | Ross Stores, Inc (6) | 33 | 903,409 | 1.2 | % | 9,874 | 1.1 | % | 10.93 | |||||||||||||||||
10 | Bed Bath & Beyond, Inc. (7) | 31 | 765,616 | 1.0 | % | 9,533 | 1.1 | % | 12.45 | |||||||||||||||||
443 | 14,769,427 | 20.2 | % | 150,064 | 17.0 | % | 10.16 | |||||||||||||||||||
11 | Wal-Mart Stores, Inc. (8) | 18 | 2,203,391 | 3.0 | % | 9,135 | 1.0 | % | 4.15 | |||||||||||||||||
12 | PetSmart, Inc. | 26 | 587,388 | 0.8 | % | 8,767 | 1.0 | % | 14.93 | |||||||||||||||||
13 | Big Lots, Inc. | 37 | 1,225,269 | 1.7 | % | 8,204 | 0.9 | % | 6.70 | |||||||||||||||||
14 | Best Buy Co., Inc. | 14 | 583,462 | 0.8 | % | 7,927 | 0.9 | % | 13.59 | |||||||||||||||||
15 | PETCO Animal Supplies, Inc. (9) | 33 | 447,440 | 0.6 | % | 7,835 | 0.9 | % | 17.51 | |||||||||||||||||
16 | Kohl's Corporation | 12 | 914,585 | 1.2 | % | 7,192 | 0.8 | % | 7.86 | |||||||||||||||||
17 | The Michaels Companies, Inc. | 26 | 579,078 | 0.8 | % | 6,971 | 0.8 | % | 12.04 | |||||||||||||||||
18 | Party City Holdco Inc. | 34 | 482,332 | 0.7 | % | 6,679 | 0.8 | % | 13.85 | |||||||||||||||||
19 | Office Depot, Inc. (10) | 27 | 592,765 | 0.8 | % | 6,493 | 0.7 | % | 10.95 | |||||||||||||||||
20 | Ulta Beauty, Inc. | 24 | 274,429 | 0.4 | % | 6,151 | 0.7 | % | 22.41 | |||||||||||||||||
694 | 22,659,566 | 31.0 | % | 225,418 | 25.5 | % | 9.95 | |||||||||||||||||||
21 | Staples, Inc. | 23 | 476,124 | 0.7 | % | 5,959 | 0.7 | % | 12.52 | |||||||||||||||||
22 | Five Below, Inc. | 31 | 270,636 | 0.4 | % | 5,077 | 0.6 | % | 18.76 | |||||||||||||||||
23 | CVS Health | 17 | 237,699 | 0.3 | % | 4,970 | 0.6 | % | 20.91 | |||||||||||||||||
24 | Ascena Retail Group, Inc. (11) | 44 | 271,904 | 0.4 | % | 4,799 | 0.5 | % | 17.65 | |||||||||||||||||
25 | Hobby Lobby Stores, Inc. | 13 | 725,923 | 1.0 | % | 4,731 | 0.5 | % | 6.52 | |||||||||||||||||
26 | DICK's Sporting Goods, Inc. (12) | 9 | 343,493 | 0.5 | % | 4,717 | 0.5 | % | 13.73 | |||||||||||||||||
27 | Southeastern Grocers (13) | 12 | 568,562 | 0.8 | % | 4,534 | 0.5 | % | 7.97 | |||||||||||||||||
28 | JOANN Stores, Inc. | 21 | 415,255 | 0.6 | % | 4,451 | 0.5 | % | 10.72 | |||||||||||||||||
29 | Designer Brands Inc. (DSW) | 14 | 268,691 | 0.4 | % | 4,420 | 0.5 | % | 16.45 | |||||||||||||||||
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 | AMC Entertainment Holdings, Inc. | 4 | 214,355 | 0.3 | % | 4,151 | 0.5 | % | 19.37 | |||||||||||||||||
33 | Barnes & Noble, Inc. | 10 | 224,673 | 0.3 | % | 4,086 | 0.5 | % | 18.19 | |||||||||||||||||
34 | H.E. Butt Grocery Company (14) | 4 | 268,380 | 0.4 | % | 4,085 | 0.5 | % | 15.22 | |||||||||||||||||
35 | Sally Beauty Holdings, Inc. (15) | 99 | 175,037 | 0.2 | % | 3,983 | 0.4 | % | 22.76 | |||||||||||||||||
36 | JP Morgan Chase & Co. | 28 | 101,202 | 0.1 | % | 3,950 | 0.4 | % | 39.03 | |||||||||||||||||
37 | Gap, Inc. (16) | 15 | 236,332 | 0.3 | % | 3,930 | 0.4 | % | 16.63 | |||||||||||||||||
38 | Wakefern Food Corporation (17) | 6 | 307,332 | 0.4 | % | 3,858 | 0.4 | % | 12.55 | |||||||||||||||||
39 | Mattress Firm, Inc. | 30 | 180,078 | 0.2 | % | 3,758 | 0.4 | % | 20.87 | |||||||||||||||||
40 | Stein Mart, Inc. | 12 | 424,611 | 0.6 | % | 3,741 | 0.4 | % | 8.81 | |||||||||||||||||
TOTAL TOP 40 RETAILERS | 1,097 | 29,317,988 | 40.2 | % | $ | 313,229 | 35.3 | % | $ | 10.68 | ||||||||||||||||
(1) Includes T.J. Maxx-39, Marshalls-35, HomeGoods-11, 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 dressbarn-15, Catherines-8, Justice-7, Lane Bryant-7, | ||||||||||||||||||||||||
(2) Includes Kroger-41, King Soopers-3, Harris Teeter-2, Ralphs-2, Dillons-1, | where retailer is guarantor. | maurices-5, Ann Taylor-1 and Roz & Ali-1. | ||||||||||||||||||||||||
Food 4 Less-1, Pay Less-1 and Pick 'N Save-1. | (6) Includes Ross Dress for Less-30 and dd's Discounts-3. | (12) Includes DICK'S Sporting Goods-6 and Golf Galaxy-3. | ||||||||||||||||||||||||
(3) Includes Dollar Tree-111, Family Dollar-21 and Deal$-1. | (7) Includes Bed Bath & Beyond-16, Harmon Face Values-6, Christmas | (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, | Tree Shops-4, Cost Plus World Market-3 and buybuy Baby-2. | (14) Includes H-E-B-3 and Central Market-1. | ||||||||||||||||||||||||
Shaw's-2, Tom Thumb-2, Shop & Save Market-1 and Star Market-1. | (8) Includes Supercenters-10, Discount Stores-4, Walmart Neighborhood | (15) Includes Sally Beauty-92, Cosmoprof-6 and Macon Beauty Systems-1. | ||||||||||||||||||||||||
Market-3 and Sam's Club-1. | (16) Includes Old Navy-11, GAP Factory-3 and Banana Republic-1. | |||||||||||||||||||||||||
(9) Includes PETCO-32 and Unleashed-1. | (17) Includes PriceRite-3 and ShopRite-3. | |||||||||||||||||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 29 | ![]() |
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 3/31/19 | 395 | 3,184,376 | $ | 42,941 | $ | 13.48 | $ | 4.79 | $ | 1.34 | 6.0 | 299 | 2,737,584 | $ | 12.51 | $ | 11.39 | 9.8 | ||||||||||||||||||||||||||
Three months ended 12/31/18 | 454 | 3,093,665 | 42,078 | 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 | ||||||||||||||||||||||||||||||||
TOTAL - TTM | 1,934 | 12,809,885 | $ | 180,962 | $ | 14.13 | $ | 6.59 | $ | 1.41 | 6.3 | 1,547 | 10,946,623 | $ | 13.62 | $ | 12.31 | 10.6 | ||||||||||||||||||||||||||
NEW & RENEWAL LEASES ONLY | ||||||||||||||||||||||||||||||||||||||||||||
Three months ended 3/31/19 | 325 | 1,722,634 | $ | 28,129 | $ | 16.33 | $ | 8.85 | $ | 2.47 | 6.7 | 229 | 1,275,842 | $ | 15.24 | $ | 13.57 | 12.3 | ||||||||||||||||||||||||||
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 | 34,535 | 15.43 | 9.76 | 1.84 | 6.4 | 338 | 1,909,100 | 14.93 | 13.17 | 13.4 | ||||||||||||||||||||||||||||||||
Three months ended 6/30/18 | 464 | 2,077,701 | 34,534 | 16.62 | 12.23 | 2.19 | 7.6 | 365 | 1,436,059 | 17.73 | 15.51 | 14.3 | ||||||||||||||||||||||||||||||||
TOTAL - TTM | 1,626 | 8,144,292 | $ | 130,136 | $ | 15.98 | $ | 10.32 | $ | 2.21 | 6.9 | 1,239 | 6,281,030 | $ | 15.65 | $ | 13.87 | 12.8 | ||||||||||||||||||||||||||
NEW LEASES | ||||||||||||||||||||||||||||||||||||||||||||
Three months ended 3/31/19 | 147 | 694,443 | $ | 13,050 | $ | 18.79 | $ | 19.21 | $ | 6.12 | 8.6 | 56 | 274,709 | $ | 17.93 | $ | 13.51 | 32.7 | ||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||
TOTAL - TTM | 633 | 3,519,374 | $ | 55,532 | $ | 15.78 | $ | 21.52 | $ | 5.06 | 9.2 | 259 | 1,713,425 | $ | 14.54 | $ | 10.91 | 33.3 | ||||||||||||||||||||||||||
RENEWAL LEASES | ||||||||||||||||||||||||||||||||||||||||||||
Three months ended 3/31/19 | 178 | 1,028,191 | $ | 15,080 | $ | 14.67 | $ | 1.85 | $ | 0.01 | 5.3 | 173 | 1,001,133 | $ | 14.50 | $ | 13.58 | 6.8 | ||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||
TOTAL - TTM | 993 | 4,624,918 | $ | 74,604 | $ | 16.13 | $ | 1.80 | $ | 0.04 | 5.2 | 980 | 4,567,605 | $ | 16.07 | $ | 14.98 | 7.3 | ||||||||||||||||||||||||||
OPTION LEASES | ||||||||||||||||||||||||||||||||||||||||||||
Three months ended 3/31/19 | 70 | 1,461,742 | $ | 14,812 | $ | 10.13 | $ | — | $ | — | 5.2 | 70 | 1,461,742 | $ | 10.13 | $ | 9.49 | 6.7 | ||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||
TOTAL - TTM | 308 | 4,665,593 | $ | 50,826 | $ | 10.89 | $ | 0.09 | $ | 0.02 | 5.1 | 308 | 4,665,593 | $ | 10.89 | $ | 10.21 | 6.7 | ||||||||||||||||||||||||||
LEASES BY ANCHOR AND SMALL SHOP | ||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended 3/31/19 | TTM Ended 3/31/19 | |||||||||||||||||||||||||||||||||||||||||||
% 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 | 16 | % | 68 | % | 49 | % | $ | 9.75 | 8.4 | % | 14 | % | 65 | % | 45 | % | $ | 9.96 | 10.0 | |||||||||||||||||||||||||
New & Renewal Leases Only | 11 | % | 50 | % | 34 | % | 11.17 | 12.2 | % | 10 | % | 53 | % | 36 | % | 10.83 | 14.5 | |||||||||||||||||||||||||||
New Leases | 10 | % | 44 | % | 29 | % | 12.51 | 42.6 | % | 12 | % | 59 | % | 40 | % | 10.76 | 42.9 | |||||||||||||||||||||||||||
Renewal Leases | 13 | % | 53 | % | 38 | % | 10.43 | 5.2 | % | 9 | % | 48 | % | 33 | % | 10.90 | 4.2 | |||||||||||||||||||||||||||
Option Leases | 40 | % | 91 | % | 79 | % | 8.84 | 6.0 | % | 36 | % | 85 | % | 70 | % | 9.01 | 5.9 | |||||||||||||||||||||||||||
Small Shop Leases (< 10,000 SF) | ||||||||||||||||||||||||||||||||||||||||||||
Total - New, Renewal & Option Leases | 84 | % | 32 | % | 51 | % | $ | 21.56 | 11.9 | % | 86 | % | 35 | % | 55 | % | $ | 21.71 | 11.3 | |||||||||||||||||||||||||
New & Renewal Leases Only | 89 | % | 50 | % | 66 | % | 21.41 | 12.4 | % | 90 | % | 47 | % | 64 | % | 21.73 | 11.9 | |||||||||||||||||||||||||||
New Leases | 90 | % | 56 | % | 71 | % | 23.71 | 27.8 | % | 88 | % | 41 | % | 60 | % | 22.87 | 25.4 | |||||||||||||||||||||||||||
Renewal Leases | 87 | % | 47 | % | 62 | % | 19.53 | 7.8 | % | 91 | % | 52 | % | 67 | % | 21.03 | 8.9 | |||||||||||||||||||||||||||
Option Leases | 60 | % | 9 | % | 21 | % | 22.50 | 10.2 | % | 64 | % | 15 | % | 30 | % | 21.62 | 8.8 | |||||||||||||||||||||||||||
(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 March 31, 2019 | Page 30 | ![]() |
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 | ||||||||||||||||
3/31/19 | 3/31/19 | 12/31/18 | 9/30/18 | 6/30/18 | 3/31/18 | ||||||||||||
NEW LEASES | |||||||||||||||||
Weighted average over lease term: | |||||||||||||||||
Base rent | $ 16.90 | $ 19.81 | $ 16.81 | $ 15.66 | $ 16.08 | $ 15.58 | |||||||||||
Tenant improvements and allowances | (2.29) | (2.25) | (2.10) | (2.38) | (2.43) | (2.24) | |||||||||||
Third party leasing commissions | (0.53) | (0.65) | (0.57) | (0.48) | (0.47) | (0.44) | |||||||||||
NET EFFECTIVE RENT BEFORE TENANT SPECIFIC LANDLORD WORK | 14.08 | 16.91 | 14.14 | 12.8 | 13.18 | 12.90 | |||||||||||
Tenant specific landlord work (1) | (0.79) | (0.99) | (1.11) | (0.55) | (0.56) | (0.60) | |||||||||||
NET EFFECTIVE RENT | $ 13.29 | $ 15.92 | $ 13.03 | $ 12.25 | $ 12.62 | $ 12.30 | |||||||||||
Net effective rent before tenant specific landlord work / | |||||||||||||||||
base rent | 83% | 85% | 84% | 82% | 82% | 83% | |||||||||||
Net effective rent / base rent | 79% | 80% | 77% | 78% | 79% | 79% | |||||||||||
Weighted average term (years) | 9.2 | 8.6 | 9.2 | 9.1 | 9.6 | 10.2 | |||||||||||
PERCENT OF TOTAL NET EFFECTIVE RENT BY ANCHOR AND SMALL SHOP | |||||||||||||||||
≥ 10,000 SF | 36% | 27% | 36 | % | 39% | 40% | 45% | ||||||||||
< 10,000 SF | 64% | 73% | 64 | % | 61% | 60% | 55% | ||||||||||
LEASES SIGNED BUT NOT YET COMMENCED | |||||||||||||||||
As of 3/31/19: | Leases | GLA | ABR | ABR PSF | |||||||||||||
≥ 10,000 SF | 78 | 2,232,272 | $ 27,204 | $ 12.19 | |||||||||||||
< 10,000 SF | 273 | 779,795 | 20,516 | 26.31 | |||||||||||||
TOTAL | 351 | 3,012,067 | $ 47,720 | $ 15.84 | |||||||||||||
(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 March 31, 2019 | Page 31 | ![]() |
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 | 325 | 915,068 | 1.4 | 1.6 | % | $ | 15.22 | $ | 15.22 | 12 | 208,712 | 0.4 | % | 0.3 | % | $ | 7.46 | $ | 7.46 | 313 | 706,356 | 3.7 | % | 3.0 | % | $ | 17.51 | $ | 17.51 | ||||||||||||||||||||||||||||||||||
2019 | 805 | 4,038,252 | 6.1 | 5.8 | % | 12.67 | 12.67 | 60 | 2,116,278 | 4.4 | % | 3.6 | % | 8.08 | 8.08 | 745 | 1,921,974 | 10.1 | % | 8.3 | % | 17.72 | 17.72 | ||||||||||||||||||||||||||||||||||||||||
2020 | 1,362 | 9,415,488 | 14.1 | 13.1 | % | 12.35 | 12.43 | 221 | 6,433,523 | 13.5 | % | 11.8 | % | 8.80 | 8.85 | 1,141 | 2,981,965 | 15.6 | % | 14.6 | % | 20.01 | 20.14 | ||||||||||||||||||||||||||||||||||||||||
2021 | 1,209 | 9,135,749 | 13.7 | 12.8 | % | 12.45 | 12.66 | 189 | 6,384,193 | 13.4 | % | 12.0 | % | 9.01 | 9.08 | 1,020 | 2,751,556 | 14.4 | % | 13.8 | % | 20.44 | 20.96 | ||||||||||||||||||||||||||||||||||||||||
2022 | 1,063 | 8,170,083 | 12.3 | 12.3 | % | 13.41 | 13.79 | 192 | 5,767,558 | 12.1 | % | 11.9 | % | 9.89 | 9.99 | 871 | 2,402,525 | 12.6 | % | 12.9 | % | 21.88 | 22.92 | ||||||||||||||||||||||||||||||||||||||||
2023 | 979 | 6,987,638 | 10.5 | 10.9 | % | 13.82 | 14.25 | 172 | 4,699,121 | 9.9 | % | 9.8 | % | 9.99 | 10.07 | 807 | 2,288,517 | 12.0 | % | 12.2 | % | 21.70 | 22.85 | ||||||||||||||||||||||||||||||||||||||||
2024 | 787 | 7,665,730 | 11.5 | 10.8 | % | 12.46 | 13.13 | 178 | 5,836,782 | 12.3 | % | 11.8 | % | 9.72 | 9.97 | 609 | 1,828,948 | 9.6 | % | 9.5 | % | 21.20 | 23.24 | ||||||||||||||||||||||||||||||||||||||||
2025 | 312 | 3,714,742 | 5.6 | 5.4 | % | 12.88 | 13.91 | 89 | 2,895,694 | 6.1 | % | 6.3 | % | 10.49 | 11.09 | 223 | 819,048 | 4.3 | % | 4.3 | % | 21.34 | 23.86 | ||||||||||||||||||||||||||||||||||||||||
2026 | 289 | 2,919,028 | 4.4 | 5.0 | % | 15.15 | 16.63 | 78 | 2,194,323 | 4.6 | % | 5.5 | % | 12.03 | 12.91 | 211 | 724,705 | 3.9 | % | 4.5 | % | 24.58 | 27.91 | ||||||||||||||||||||||||||||||||||||||||
2027 | 309 | 2,960,929 | 4.4 | 4.9 | % | 14.60 | 16.51 | 70 | 2,154,192 | 4.5 | % | 5.2 | % | 11.49 | 12.69 | 239 | 806,737 | 4.2 | % | 4.5 | % | 22.92 | 26.72 | ||||||||||||||||||||||||||||||||||||||||
2028 | 302 | 2,659,559 | 3.9 | 4.7 | % | 16.11 | 18.07 | 68 | 1,891,096 | 4.0 | % | 4.6 | % | 11.66 | 12.48 | 234 | 768,463 | 4.0 | % | 5.1 | % | 27.06 | 31.81 | ||||||||||||||||||||||||||||||||||||||||
2029+ | 520 | 8,099,824 | 12.1 | 12.7 | % | 13.89 | 15.99 | 206 | 7,038,161 | 14.8 | % | 17.2 | % | 11.73 | 13.26 | 314 | 1,061,663 | 5.6 | % | 7.3 | % | 28.18 | 34.13 | ||||||||||||||||||||||||||||||||||||||||
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 | 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 | 325 | 915,068 | 1.4 | 1.6 | % | $ | 15.22 | $ | 15.22 | 12 | 208,712 | 0.4 | % | 0.3 | % | $ | 7.46 | $ | 7.46 | 313 | 706,356 | 3.7 | % | 3.0 | % | $ | 17.51 | $ | 17.51 | ||||||||||||||||||||||||||||||||||
2019 | 612 | 2,047,837 | 3.1 | 3.3 | % | 14.71 | 14.71 | 30 | 617,570 | 1.3 | % | 1.1 | % | 8.93 | 8.93 | 582 | 1,430,267 | 7.5 | % | 6.0 | % | 17.20 | 17.20 | ||||||||||||||||||||||||||||||||||||||||
2020 | 933 | 3,594,679 | 5.4 | 6.1 | % | 14.98 | 15.16 | 65 | 1,482,976 | 3.1 | % | 2.7 | % | 8.59 | 8.82 | 868 | 2,111,703 | 11.1 | % | 10.1 | % | 19.46 | 19.60 | ||||||||||||||||||||||||||||||||||||||||
2021 | 830 | 2,769,985 | 4.2 | 5.5 | % | 17.46 | 17.93 | 39 | 883,730 | 1.9 | % | 2.0 | % | 10.78 | 10.81 | 791 | 1,886,255 | 9.9 | % | 9.5 | % | 20.59 | 21.27 | ||||||||||||||||||||||||||||||||||||||||
2022 | 710 | 2,405,706 | 3.6 | 4.9 | % | 18.09 | 19.02 | 40 | 778,051 | 1.6 | % | 1.8 | % | 11.13 | 11.32 | 670 | 1,627,655 | 8.5 | % | 8.5 | % | 21.41 | 22.70 | ||||||||||||||||||||||||||||||||||||||||
2023 | 658 | 2,390,173 | 3.6 | 4.8 | % | 17.99 | 19.06 | 47 | 845,915 | 1.8 | % | 2.0 | % | 10.93 | 11.27 | 611 | 1,544,258 | 8.1 | % | 8.3 | % | 21.86 | 23.32 | ||||||||||||||||||||||||||||||||||||||||
2024 | 547 | 2,420,089 | 3.6 | 4.2 | % | 15.55 | 16.88 | 43 | 1,085,275 | 2.3 | % | 2.1 | % | 9.39 | 9.63 | 504 | 1,334,814 | 7.0 | % | 6.7 | % | 20.56 | 22.77 | ||||||||||||||||||||||||||||||||||||||||
2025 | 307 | 2,074,149 | 3.1 | 3.2 | % | 13.52 | 14.91 | 53 | 1,356,474 | 2.8 | % | 2.6 | % | 9.27 | 10.18 | 254 | 717,675 | 3.8 | % | 3.8 | % | 21.56 | 23.86 | ||||||||||||||||||||||||||||||||||||||||
2026 | 286 | 1,792,836 | 2.7 | 3.1 | % | 15.23 | 17.00 | 33 | 941,439 | 2.0 | % | 1.8 | % | 9.12 | 9.95 | 253 | 851,397 | 4.5 | % | 4.6 | % | 22.00 | 24.80 | ||||||||||||||||||||||||||||||||||||||||
2027 | 318 | 2,053,130 | 3.0 | 3.5 | % | 15.45 | 17.46 | 55 | 1,260,265 | 2.6 | % | 3.0 | % | 11.24 | 12.22 | 263 | 792,865 | 4.2 | % | 4.3 | % | 22.15 | 25.80 | ||||||||||||||||||||||||||||||||||||||||
2028 | 299 | 1,608,087 | 2.4 | 3.2 | % | 17.47 | 20.07 | 35 | 794,980 | 1.7 | % | 1.8 | % | 11.05 | 12.06 | 264 | 813,107 | 4.2 | % | 4.8 | % | 23.75 | 27.91 | ||||||||||||||||||||||||||||||||||||||||
2029+ | 2,437 | 42,610,351 | 63.9 | 56.6 | % | 11.78 | 15.19 | 1,083 | 37,364,246 | 78.5 | % | 78.8 | % | 10.12 | 12.93 | 1,354 | 5,246,105 | 27.5 | % | 30.4 | % | 23.60 | 31.29 | ||||||||||||||||||||||||||||||||||||||||
(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 3/31/19 | 79.8% | 79.4% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 32 | ![]() |
PROPERTIES BY LARGEST US MSAs | |||||||||||||||||||||||||||||||||
Dollars in thousands, except per square foot amounts | |||||||||||||||||||||||||||||||||
Percent of | |||||||||||||||||||||||||||||||||
Number of | Percent | Percent | Number of | Percent | Percent | ||||||||||||||||||||||||||||
Largest US MSAs by 2017 Population | Properties | GLA | Billed | Leased | ABR | ABR PSF | Properties | of GLA | of ABR | ||||||||||||||||||||||||
1 | New York-Newark-Jersey City, NY-NJ-PA | 29 | 3,548,007 | 89.9 | % | 93.5 | % | $ | 67,588 | $ | 20.60 | 6.9 | % | 4.8 | % | 7.6 | % | ||||||||||||||||
2 | Los Angeles-Long Beach-Anaheim, CA | 10 | 1,710,036 | 92.5 | % | 96.8 | % | 33,286 | 22.17 | 2.4 | % | 2.3 | % | 3.8 | % | ||||||||||||||||||
3 | Chicago-Naperville-Elgin, IL-IN-WI | 15 | 3,842,402 | 77.1 | % | 78.9 | % | 39,896 | 14.28 | 3.6 | % | 5.2 | % | 4.5 | % | ||||||||||||||||||
4 | Dallas-Fort Worth-Arlington, TX | 14 | 2,690,866 | 86.9 | % | 92.1 | % | 41,721 | 17.55 | 3.3 | % | 3.7 | % | 4.7 | % | ||||||||||||||||||
5 | Houston-The Woodlands-Sugar Land, TX | 31 | 4,122,902 | 88.0 | % | 93.9 | % | 45,654 | 12.38 | 7.3 | % | 5.6 | % | 5.1 | % | ||||||||||||||||||
6 | Washington-Arlington-Alexandria, DC-VA-MD-WV | 3 | 451,260 | 96.4 | % | 97.8 | % | 4,874 | 11.25 | 0.7 | % | 0.6 | % | 0.5 | % | ||||||||||||||||||
7 | Miami-Fort Lauderdale-West Palm Beach, FL | 9 | 1,503,749 | 79.1 | % | 82.8 | % | 17,434 | 15.02 | 2.1 | % | 2.1 | % | 2.0 | % | ||||||||||||||||||
8 | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 23 | 4,033,280 | 85.6 | % | 89.1 | % | 56,927 | 18.38 | 5.5 | % | 5.5 | % | 6.4 | % | ||||||||||||||||||
9 | Atlanta-Sandy Springs-Roswell, GA | 23 | 3,561,019 | 88.0 | % | 89.8 | % | 36,977 | 11.93 | 5.5 | % | 4.9 | % | 4.2 | % | ||||||||||||||||||
10 | Boston-Cambridge-Newton, MA-NH | 6 | 712,668 | 93.7 | % | 94.6 | % | 8,646 | 12.89 | 1.4 | % | 1.0 | % | 1.0 | % | ||||||||||||||||||
Top 10 Largest US MSAs by Population | 163 | 26,176,189 | 86.2 | % | 89.8 | % | 353,003 | 15.97 | 38.7 | % | 35.7 | % | 39.8 | % | |||||||||||||||||||
11 | Phoenix-Mesa-Scottsdale, AZ | 1 | 119,525 | 87.0 | % | 87.0 | % | 1,363 | 13.11 | 0.2 | % | 0.2 | % | 0.2 | % | ||||||||||||||||||
12 | San Francisco-Oakland-Hayward, CA | 2 | 506,531 | 95.5 | % | 98.9 | % | 11,216 | 27.69 | 0.5 | % | 0.7 | % | 1.3 | % | ||||||||||||||||||
13 | Riverside-San Bernardino-Ontario, CA | 4 | 500,053 | 91.3 | % | 92.9 | % | 8,014 | 19.73 | 0.9 | % | 0.7 | % | 0.9 | % | ||||||||||||||||||
14 | Detroit-Warren-Dearborn, MI | 8 | 1,431,286 | 85.3 | % | 94.0 | % | 15,650 | 12.64 | 1.9 | % | 2.0 | % | 1.8 | % | ||||||||||||||||||
15 | Seattle-Tacoma-Bellevue, WA | 0 | — | — | — | — | — | — | — | — | |||||||||||||||||||||||
16 | Minneapolis-St. Paul-Bloomington, MN-WI | 8 | 1,181,630 | 89.7 | % | 91.8 | % | 13,824 | 13.78 | 1.9 | % | 1.6 | % | 1.6 | % | ||||||||||||||||||
17 | San Diego-Carlsbad, CA | 3 | 649,309 | 92.6 | % | 98.4 | % | 14,020 | 22.45 | 0.7 | % | 0.9 | % | 1.6 | % | ||||||||||||||||||
18 | Tampa-St. Petersburg-Clearwater, FL | 13 | 1,997,389 | 89.7 | % | 92.5 | % | 25,921 | 15.29 | 3.1 | % | 2.7 | % | 2.9 | % | ||||||||||||||||||
19 | Denver-Aurora-Lakewood, CO | 5 | 1,197,905 | 88.3 | % | 89.4 | % | 14,498 | 14.03 | 1.2 | % | 1.6 | % | 1.6 | % | ||||||||||||||||||
20 | Baltimore-Columbia-Towson, MD | 0 | — | — | — | — | — | — | — | — | |||||||||||||||||||||||
Top 20 Largest US MSAs by Population | 207 | 33,759,817 | 86.9 | % | 90.5 | % | 457,509 | 15.99 | 49.1 | % | 46.1 | % | 51.7 | % | |||||||||||||||||||
21 | St. Louis, MO-IL | 2 | 209,036 | 85.1 | % | 96.5 | % | 2,160 | 10.88 | 0.5 | % | 0.3 | % | 0.2 | % | ||||||||||||||||||
22 | Charlotte-Concord-Gastonia, NC-SC | 5 | 1,638,888 | 91.0 | % | 92.9 | % | 15,150 | 10.92 | 1.2 | % | 2.2 | % | 1.7 | % | ||||||||||||||||||
23 | Orlando-Kissimmee-Sanford, FL | 5 | 808,790 | 92.6 | % | 94.3 | % | 15,748 | 20.98 | 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 | % | 1,966 | 10.95 | 0.2 | % | 0.3 | % | 0.2 | % | ||||||||||||||||||
27 | Sacramento--Roseville--Arden-Arcade, CA | 1 | 103,695 | 92.8 | % | 92.8 | % | 1,755 | 18.23 | 0.2 | % | 0.1 | % | 0.2 | % | ||||||||||||||||||
28 | Las Vegas-Henderson-Paradise, NV | 0 | — | — | — | — | — | — | — | — | |||||||||||||||||||||||
29 | Cincinnati, OH-KY-IN | 7 | 1,931,663 | 87.9 | % | 90.2 | % | 21,461 | 15.90 | 1.7 | % | 2.6 | % | 2.4 | % | ||||||||||||||||||
30 | Kansas City, MO-KS | 4 | 608,649 | 91.8 | % | 92.5 | % | 4,656 | 8.41 | 0.9 | % | 0.8 | % | 0.5 | % | ||||||||||||||||||
31 | Austin-Round Rock, TX | 1 | 163,712 | 90.3 | % | 98.4 | % | 1,893 | 11.75 | 0.2 | % | 0.2 | % | 0.2 | % | ||||||||||||||||||
32 | Columbus, OH | 3 | 435,069 | 87.7 | % | 87.7 | % | 3,669 | 10.13 | 0.7 | % | 0.6 | % | 0.4 | % | ||||||||||||||||||
33 | Cleveland-Elyria, OH | 3 | 908,546 | 83.4 | % | 84.1 | % | 9,517 | 12.54 | 0.7 | % | 1.2 | % | 1.1 | % | ||||||||||||||||||
34 | Indianapolis-Carmel-Anderson, IN | 4 | 905,523 | 86.0 | % | 87.8 | % | 8,141 | 10.28 | 0.9 | % | 1.2 | % | 0.9 | % | ||||||||||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 33 | ![]() |
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 | 92.9 | % | 94.2 | % | 8,686 | 11.60 | 0.9 | % | 1.1 | % | 1.0 | % | ||||||||||||||||||
37 | Virginia Beach-Norfolk-Newport News, VA-NC | 1 | 150,300 | 86.9 | % | 93.8 | % | 2,655 | 20.89 | 0.2 | % | 0.2 | % | 0.3 | % | ||||||||||||||||||
38 | Providence-Warwick, RI-MA | 0 | — | — | — | — | — | — | — | — | |||||||||||||||||||||||
39 | Milwaukee-Waukesha-West Allis, WI | 4 | 703,934 | 76.9 | % | 78.7 | % | 6,486 | 12.30 | 0.9 | % | 1.0 | % | 0.7 | % | ||||||||||||||||||
40 | Jacksonville, FL | 4 | 801,964 | 81.4 | % | 94.4 | % | 9,290 | 12.67 | 0.9 | % | 1.1 | % | 1.0 | % | ||||||||||||||||||
41 | Oklahoma City, OK | 0 | — | — | — | — | — | — | — | — | |||||||||||||||||||||||
42 | Memphis, TN-MS-AR | 1 | 652,349 | 91.2 | % | 94.8 | % | 9,418 | 15.63 | 0.2 | % | 0.9 | % | 1.1 | % | ||||||||||||||||||
43 | Raleigh, NC | 2 | 291,027 | 96.8 | % | 98.2 | % | 3,620 | 13.80 | 0.5 | % | 0.4 | % | 0.4 | % | ||||||||||||||||||
44 | Richmond, VA | 2 | 222,690 | 96.7 | % | 96.7 | % | 3,244 | 15.06 | 0.5 | % | 0.3 | % | 0.4 | % | ||||||||||||||||||
45 | Louisville/Jefferson County, KY-IN | 4 | 707,728 | 95.8 | % | 97.0 | % | 7,325 | 11.02 | 0.9 | % | 1.0 | % | 0.8 | % | ||||||||||||||||||
46 | New Orleans-Metairie, LA | 0 | — | — | — | — | — | — | — | — | |||||||||||||||||||||||
47 | Hartford-West Hartford-East Hartford, CT | 3 | 596,055 | 90.3 | % | 90.6 | % | 9,263 | 17.15 | 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 | 268 | 46,595,855 | 87.5 | % | 90.8 | % | 603,612 | 15.23 | 63.5 | % | 63.7 | % | 68.0 | % | |||||||||||||||||||
MSAs Ranked 51 - 100 by Population | 50 | 8,776,344 | 88.0 | % | 92.8 | % | 95,524 | 12.88 | 11.8 | % | 12.0 | % | 10.8 | % | |||||||||||||||||||
Other MSAs | 104 | 17,819,987 | 87.3 | % | 91.1 | % | 188,327 | 12.61 | 24.7 | % | 24.3 | % | 21.2 | % | |||||||||||||||||||
TOTAL | 422 | 73,192,186 | 87.5 | % | 91.1 | % | $ | 887,463 | $ | 14.32 | 100.0 | % | 100.0 | % | 100.0 | % | |||||||||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 34 | ![]() |
LARGEST MSAs BY ABR | ||||||||||||||||||||||||||||||
Dollars in thousands, except per square foot amounts | ||||||||||||||||||||||||||||||
Percent of | ||||||||||||||||||||||||||||||
Number of | Percent | Percent | Number of | Percent | Percent | |||||||||||||||||||||||||
Largest MSAs by ABR | MSA Rank | Properties | GLA | Billed | Leased | ABR | ABR PSF | Properties | of GLA | of ABR | ||||||||||||||||||||
1 | New York-Newark-Jersey City, NY-NJ-PA | 1 | 29 | 3,548,007 | 89.9 | 93.5 | $ | 67,588 | $ | 20.60 | 6.9 | 4.8 | 7.6 | |||||||||||||||||
2 | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 8 | 23 | 4,033,280 | 85.6 | 89.1 | 56,927 | 18.38 | 5.5 | 5.5 | 6.4 | |||||||||||||||||||
3 | Houston-The Woodlands-Sugar Land, TX | 5 | 31 | 4,122,902 | 88.0 | 93.9 | 45,654 | 12.38 | 7.3 | 5.6 | 5.1 | |||||||||||||||||||
4 | Dallas-Fort Worth-Arlington, TX | 4 | 14 | 2,690,866 | 86.9 | 92.1 | 41,721 | 17.55 | 3.3 | 3.7 | 4.7 | |||||||||||||||||||
5 | Chicago-Naperville-Elgin, IL-IN-WI | 3 | 15 | 3,842,402 | 77.1 | 78.9 | 39,896 | 14.28 | 3.6 | 5.2 | 4.5 | |||||||||||||||||||
6 | Atlanta-Sandy Springs-Roswell, GA | 9 | 23 | 3,561,019 | 88.0 | 89.8 | 36,977 | 11.93 | 5.5 | 4.9 | 4.2 | |||||||||||||||||||
7 | Los Angeles-Long Beach-Anaheim, CA | 2 | 10 | 1,710,036 | 92.5 | 96.8 | 33,286 | 22.17 | 2.4 | 2.3 | 3.8 | |||||||||||||||||||
8 | Tampa-St. Petersburg-Clearwater, FL | 18 | 13 | 1,997,389 | 89.7 | 92.5 | 25,921 | 15.29 | 3.1 | 2.7 | 2.9 | |||||||||||||||||||
9 | Cincinnati, OH-KY-IN | 29 | 7 | 1,931,663 | 87.9 | 90.2 | 21,461 | 15.90 | 1.7 | 2.6 | 2.4 | |||||||||||||||||||
10 | Miami-Fort Lauderdale-West Palm Beach, FL | 7 | 9 | 1,503,749 | 79.1 | 82.8 | 17,434 | 15.02 | 2.1 | 2.1 | 2.0 | |||||||||||||||||||
10 Largest MSAs by ABR | — | 174 | 28,941,313 | 86.3 | 89.8 | 386,865 | 16.09 | 41.4 | 39.4 | 43.6 | ||||||||||||||||||||
11 | Orlando-Kissimmee-Sanford, FL | 23 | 5 | 808,790 | 92.6 | 94.3 | 15,748 | 20.98 | 1.2 | 1.1 | 1.8 | |||||||||||||||||||
12 | Detroit-Warren-Dearborn, MI | 14 | 8 | 1,431,286 | 85.3 | 94.0 | 15,650 | 12.64 | 1.9 | 2.0 | 1.8 | |||||||||||||||||||
13 | Charlotte-Concord-Gastonia, NC-SC | 22 | 5 | 1,638,888 | 91.0 | 92.9 | 15,150 | 10.92 | 1.2 | 2.2 | 1.7 | |||||||||||||||||||
14 | Denver-Aurora-Lakewood, CO | 19 | 5 | 1,197,905 | 88.3 | 89.4 | 14,498 | 14.03 | 1.2 | 1.6 | 1.6 | |||||||||||||||||||
15 | San Diego-Carlsbad, CA | 17 | 3 | 649,309 | 92.6 | 98.4 | 14,020 | 22.45 | 0.7 | 0.9 | 1.6 | |||||||||||||||||||
16 | Minneapolis-St. Paul-Bloomington, MN-WI | 16 | 8 | 1,181,630 | 89.7 | 91.8 | 13,824 | 13.78 | 1.9 | 1.6 | 1.6 | |||||||||||||||||||
17 | Ann Arbor, MI | 146 | 3 | 819,709 | 84.1 | 95.5 | 11,851 | 15.25 | 0.7 | 1.1 | 1.3 | |||||||||||||||||||
18 | Naples-Immokalee-Marco Island, FL | 144 | 4 | 780,327 | 79.4 | 81.0 | 11,511 | 18.72 | 0.9 | 1.1 | 1.3 | |||||||||||||||||||
19 | San Francisco-Oakland-Hayward, CA | 12 | 2 | 506,531 | 95.5 | 98.9 | 11,216 | 27.69 | 0.5 | 0.7 | 1.3 | |||||||||||||||||||
20 | Binghamton, NY | 192 | 4 | 751,572 | 98.9 | 98.9 | 10,480 | 14.11 | 0.9 | 1.0 | 1.2 | |||||||||||||||||||
20 Largest MSAs by ABR | — | 221 | 38,707,260 | 87.0 | 90.6 | 520,813 | 15.97 | 52.5 | 52.7 | 58.8 | ||||||||||||||||||||
21 | Allentown-Bethlehem-Easton, PA-NJ | 69 | 3 | 829,432 | 82.3 | 92.3 | 9,611 | 13.90 | 0.7 | 1.1 | 1.1 | |||||||||||||||||||
22 | Cleveland-Elyria, OH | 33 | 3 | 908,546 | 83.4 | 84.1 | 9,517 | 12.54 | 0.7 | 1.2 | 1.1 | |||||||||||||||||||
23 | Memphis, TN-MS-AR | 42 | 1 | 652,349 | 91.2 | 94.8 | 9,418 | 15.63 | 0.2 | 0.9 | 1.1 | |||||||||||||||||||
24 | Jacksonville, FL | 40 | 4 | 801,964 | 81.4 | 94.4 | 9,290 | 12.67 | 0.9 | 1.1 | 1.0 | |||||||||||||||||||
25 | Hartford-West Hartford-East Hartford, CT | 47 | 3 | 596,055 | 90.3 | 90.6 | 9,263 | 17.15 | 0.7 | 0.8 | 1.0 | |||||||||||||||||||
26 | Nashville-Davidson--Murfreesboro--Franklin, TN | 36 | 4 | 797,341 | 92.9 | 94.2 | 8,686 | 11.60 | 0.9 | 1.1 | 1.0 | |||||||||||||||||||
27 | Boston-Cambridge-Newton, MA-NH | 10 | 6 | 712,668 | 93.7 | 94.6 | 8,646 | 12.89 | 1.4 | 1.0 | 1.0 | |||||||||||||||||||
28 | Vallejo-Fairfield, CA | 121 | 1 | 519,223 | 85.2 | 86.6 | 8,598 | 19.41 | 0.2 | 0.7 | 1.0 | |||||||||||||||||||
29 | Port St. Lucie, FL | 111 | 5 | 639,579 | 86.3 | 88.8 | 8,455 | 15.00 | 1.2 | 0.9 | 1.0 | |||||||||||||||||||
30 | North Port-Sarasota-Bradenton, FL | 72 | 5 | 734,140 | 86.7 | 94.1 | 8,345 | 12.16 | 1.2 | 1.0 | 0.9 | |||||||||||||||||||
31 | Indianapolis-Carmel-Anderson, IN | 34 | 4 | 905,523 | 86.0 | 87.8 | 8,141 | 10.28 | 0.9 | 1.2 | 0.9 | |||||||||||||||||||
32 | Riverside-San Bernardino-Ontario, CA | 13 | 4 | 500,053 | 91.3 | 92.9 | 8,014 | 19.73 | 0.9 | 0.7 | 0.9 | |||||||||||||||||||
33 | Louisville/Jefferson County, KY-IN | 45 | 4 | 707,728 | 95.8 | 97.0 | 7,325 | 11.02 | 0.9 | 1.0 | 0.8 | |||||||||||||||||||
34 | New Haven-Milford, CT | 66 | 5 | 546,407 | 92.3 | 92.7 | 7,063 | 13.95 | 1.2 | 0.7 | 0.8 | |||||||||||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 35 | ![]() |
LARGEST MSAs BY ABR | ||||||||||||||||||||||||||||||
Dollars in thousands, except per square foot amounts | ||||||||||||||||||||||||||||||
Percent of | ||||||||||||||||||||||||||||||
Number of | Percent | Percent | Number of | Percent | Percent | |||||||||||||||||||||||||
Largest MSAs by ABR | MSA Rank | Properties | GLA | Billed | Leased | ABR | ABR PSF | Properties | of GLA | of ABR | ||||||||||||||||||||
35 | Milwaukee-Waukesha-West Allis, WI | 39 | 4 | 703,934 | 76.9 | 78.7 | 6,486 | 12.30 | 0.9 | 1.0 | 0.7 | |||||||||||||||||||
36 | Norwich-New London, CT | 182 | 2 | 433,532 | 89.7 | 90.2 | 6,458 | 16.52 | 0.5 | 0.6 | 0.7 | |||||||||||||||||||
37 | College Station-Bryan, TX | 189 | 4 | 491,322 | 87.1 | 91.6 | 5,673 | 15.26 | 0.9 | 0.7 | 0.6 | |||||||||||||||||||
38 | Worcester, MA-CT | 58 | 3 | 517,810 | 83.3 | 90.4 | 5,640 | 14.37 | 0.7 | 0.7 | 0.6 | |||||||||||||||||||
39 | Scranton--Wilkes-Barre--Hazleton, PA | 100 | 2 | 620,309 | 95.4 | 95.8 | 5,595 | 22.37 | 0.5 | 0.8 | 0.6 | |||||||||||||||||||
40 | Wilmington, NC | 168 | 2 | 379,107 | 97.4 | 97.4 | 5,362 | 14.68 | 0.5 | 0.5 | 0.6 | |||||||||||||||||||
41 | Greensboro-High Point, NC | 75 | 1 | 406,768 | 89.1 | 89.1 | 5,179 | 14.30 | 0.2 | 0.6 | 0.6 | |||||||||||||||||||
42 | Winston-Salem, NC | 83 | 3 | 437,761 | 85.3 | 86.4 | 4,975 | 13.84 | 0.7 | 0.6 | 0.6 | |||||||||||||||||||
43 | Washington-Arlington-Alexandria, DC-VA-MD-WV | 6 | 3 | 451,260 | 96.4 | 97.8 | 4,874 | 11.25 | 0.7 | 0.6 | 0.5 | |||||||||||||||||||
44 | Kansas City, MO-KS | 30 | 4 | 608,649 | 91.8 | 92.5 | 4,656 | 8.41 | 0.9 | 0.8 | 0.5 | |||||||||||||||||||
45 | Dayton, OH | 73 | 2 | 351,898 | 98.2 | 98.2 | 4,621 | 13.94 | 0.5 | 0.5 | 0.5 | |||||||||||||||||||
46 | Boulder, CO | 155 | 1 | 278,419 | 91.3 | 97.3 | 4,387 | 16.20 | 0.2 | 0.4 | 0.5 | |||||||||||||||||||
47 | Manchester-Nashua, NH | 131 | 2 | 347,947 | 95.8 | 96.3 | 4,386 | 21.37 | 0.5 | 0.5 | 0.5 | |||||||||||||||||||
48 | Oxnard-Thousand Oaks-Ventura, CA | 67 | 2 | 320,648 | 96.1 | 96.1 | 4,338 | 14.59 | 0.5 | 0.4 | 0.5 | |||||||||||||||||||
49 | Charleston-North Charleston, SC | 74 | 2 | 496,571 | 91.4 | 91.4 | 4,186 | 9.29 | 0.5 | 0.7 | 0.5 | |||||||||||||||||||
50 | Pittsfield, MA | 326 | 1 | 436,854 | 98.6 | 100.0 | 4,064 | 21.06 | 0.2 | 0.6 | 0.5 | |||||||||||||||||||
50 Largest MSAs by ABR | — | 311 | 55,841,057 | 87.7 | 91.0 | 722,065 | 15.30 | 73.4 | 76.1 | 81.4 | ||||||||||||||||||||
51 | Spartanburg, SC | 153 | 1 | 358,040 | 90.9 | 93.1 | 4,017 | 12.65 | 0.2 | 0.5 | 0.5 | |||||||||||||||||||
52 | Roanoke, VA | 160 | 3 | 478,298 | 98.0 | 98.4 | 4,007 | 9.78 | 0.7 | 0.7 | 0.5 | |||||||||||||||||||
53 | Fresno, CA | 55 | 1 | 261,344 | 97.7 | 98.3 | 3,881 | 15.11 | 0.2 | 0.4 | 0.4 | |||||||||||||||||||
54 | Panama City, FL | 224 | 2 | 397,512 | 96.1 | 98.3 | 3,695 | 9.46 | 0.5 | 0.5 | 0.4 | |||||||||||||||||||
55 | Columbus, OH | 32 | 3 | 435,069 | 87.7 | 87.7 | 3,669 | 10.13 | 0.7 | 0.6 | 0.4 | |||||||||||||||||||
56 | Raleigh, NC | 43 | 2 | 291,027 | 96.8 | 98.2 | 3,620 | 13.80 | 0.5 | 0.4 | 0.4 | |||||||||||||||||||
57 | Bakersfield, CA | 62 | 1 | 240,068 | 88.8 | 98.0 | 3,575 | 15.48 | 0.2 | 0.3 | 0.4 | |||||||||||||||||||
58 | Mobile, AL | 129 | 1 | 542,215 | 50.9 | 50.9 | 3,519 | 13.15 | 0.2 | 0.7 | 0.4 | |||||||||||||||||||
59 | Greenville-Anderson-Mauldin, SC | 61 | 2 | 220,723 | 96.0 | 96.0 | 3,507 | 16.96 | 0.5 | 0.3 | 0.4 | |||||||||||||||||||
60 | Atlantic City-Hammonton, NJ | 181 | 1 | 179,199 | 99.1 | 99.1 | 3,357 | 18.90 | 0.2 | 0.2 | 0.4 | |||||||||||||||||||
61 | Odessa, TX | 268 | 1 | 372,534 | 98.1 | 100.0 | 3,267 | 13.88 | 0.2 | 0.5 | 0.4 | |||||||||||||||||||
62 | Richmond, VA | 44 | 2 | 222,690 | 96.7 | 96.7 | 3,244 | 15.06 | 0.5 | 0.3 | 0.4 | |||||||||||||||||||
63 | Hilton Head Island-Bluffton-Beaufort, SC | 210 | 2 | 230,352 | 93.6 | 93.6 | 3,176 | 14.74 | 0.5 | 0.3 | 0.4 | |||||||||||||||||||
64 | Des Moines-West Des Moines, IA | 88 | 2 | 512,825 | 96.4 | 97.3 | 3,146 | 6.37 | 0.5 | 0.7 | 0.4 | |||||||||||||||||||
65 | Greenville, NC | 240 | 1 | 233,153 | 94.0 | 94.0 | 2,985 | 13.61 | 0.2 | 0.3 | 0.3 | |||||||||||||||||||
66 | Springfield, MA | 90 | 2 | 299,898 | 96.1 | 96.1 | 2,834 | 12.51 | 0.5 | 0.4 | 0.3 | |||||||||||||||||||
67 | Blacksburg-Christiansburg-Radford, VA | 233 | 1 | 181,055 | 100.0 | 100.0 | 2,738 | 15.38 | 0.2 | 0.2 | 0.3 | |||||||||||||||||||
68 | Virginia Beach-Norfolk-Newport News, VA-NC | 37 | 1 | 150,300 | 86.9 | 93.8 | 2,655 | 20.89 | 0.2 | 0.2 | 0.3 | |||||||||||||||||||
69 | Tullahoma-Manchester, TN | 377 | 2 | 390,524 | 96.5 | 97.2 | 2,572 | 6.77 | 0.5 | 0.5 | 0.3 | |||||||||||||||||||
70 | Bridgeport-Stamford-Norwalk, CT | 57 | 1 | 161,075 | 100.0 | 100.0 | 2,485 | 15.43 | 0.2 | 0.2 | 0.3 | |||||||||||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 36 | ![]() |
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 | Fort Wayne, IN | 125 | 2 | 248,451 | 84.4 | 84.4 | 2,463 | 13.69 | 0.5 | 0.3 | 0.3 | |||||||||||||||||||
72 | Savannah, GA | 137 | 2 | 224,181 | 75.5 | 76.0 | 2,324 | 13.63 | 0.5 | 0.3 | 0.3 | |||||||||||||||||||
73 | Hickory-Lenoir-Morganton, NC | 147 | 2 | 284,984 | 74.5 | 88.3 | 2,253 | 8.96 | 0.5 | 0.4 | 0.3 | |||||||||||||||||||
74 | Santa Maria-Santa Barbara, CA | 119 | 1 | 179,549 | 91.6 | 100.0 | 2,226 | 13.37 | 0.2 | 0.2 | 0.3 | |||||||||||||||||||
75 | St. Louis, MO-IL | 21 | 2 | 209,036 | 85.1 | 96.5 | 2,160 | 10.88 | 0.5 | 0.3 | 0.2 | |||||||||||||||||||
76 | Altoona, PA | 336 | 1 | 262,800 | 71.0 | 83.3 | 2,137 | 9.87 | 0.2 | 0.4 | 0.2 | |||||||||||||||||||
77 | Lancaster, PA | 102 | 2 | 170,128 | 99.1 | 99.1 | 2,125 | 12.60 | 0.5 | 0.2 | 0.2 | |||||||||||||||||||
78 | Elkhart-Goshen, IN | 221 | 1 | 252,710 | 87.5 | 97.5 | 2,095 | 15.29 | 0.2 | 0.3 | 0.2 | |||||||||||||||||||
79 | Concord, NH | 285 | 1 | 182,887 | 100.0 | 100.0 | 2,078 | 11.63 | 0.2 | 0.2 | 0.2 | |||||||||||||||||||
80 | Duluth, MN-WI | 174 | 1 | 183,006 | 84.3 | 86.3 | 2,074 | 13.13 | 0.2 | 0.3 | 0.2 | |||||||||||||||||||
81 | Tucson, AZ | 53 | 1 | 165,350 | 73.6 | 100.0 | 2,033 | 12.30 | 0.2 | 0.2 | 0.2 | |||||||||||||||||||
82 | Ithaca, NY | 372 | 1 | 204,415 | 85.1 | 95.1 | 1,993 | 10.25 | 0.2 | 0.3 | 0.2 | |||||||||||||||||||
83 | Dover, DE | 244 | 1 | 191,974 | 81.9 | 81.9 | 1,982 | 13.64 | 0.2 | 0.3 | 0.2 | |||||||||||||||||||
84 | Pittsburgh, PA | 26 | 1 | 199,079 | 100.0 | 100.0 | 1,966 | 10.95 | 0.2 | 0.3 | 0.2 | |||||||||||||||||||
85 | Manhattan, KS | 395 | 1 | 217,261 | 92.5 | 95.8 | 1,949 | 14.88 | 0.2 | 0.3 | 0.2 | |||||||||||||||||||
86 | Rutland, VT | 539 | 1 | 224,514 | 98.4 | 98.4 | 1,937 | 8.77 | 0.2 | 0.3 | 0.2 | |||||||||||||||||||
87 | Tulsa, OK | 54 | 1 | 186,851 | 100.0 | 100.0 | 1,924 | 10.30 | 0.2 | 0.3 | 0.2 | |||||||||||||||||||
88 | Portland-South Portland, ME | 105 | 1 | 287,513 | 90.7 | 90.7 | 1,923 | 20.80 | 0.2 | 0.4 | 0.2 | |||||||||||||||||||
89 | Austin-Round Rock, TX | 31 | 1 | 163,712 | 90.3 | 98.4 | 1,893 | 11.75 | 0.2 | 0.2 | 0.2 | |||||||||||||||||||
90 | Saginaw, MI | 229 | 1 | 184,735 | 99.3 | 99.3 | 1,886 | 10.28 | 0.2 | 0.3 | 0.2 | |||||||||||||||||||
91 | Syracuse, NY | 85 | 1 | 125,445 | 92.9 | 100.0 | 1,853 | 14.77 | 0.2 | 0.2 | 0.2 | |||||||||||||||||||
92 | California-Lexington Park, MD | 358 | 1 | 92,335 | 100.0 | 100.0 | 1,780 | 19.28 | 0.2 | 0.1 | 0.2 | |||||||||||||||||||
93 | Greeneville, TN | 491 | 1 | 223,564 | 46.6 | 93.1 | 1,760 | 8.56 | 0.2 | 0.3 | 0.2 | |||||||||||||||||||
94 | Sacramento--Roseville--Arden-Arcade, CA | 27 | 1 | 103,695 | 92.8 | 92.8 | 1,755 | 18.23 | 0.2 | 0.1 | 0.2 | |||||||||||||||||||
95 | Crestview-Fort Walton Beach-Destin, FL | 179 | 1 | 158,118 | 96.9 | 96.9 | 1,730 | 11.30 | 0.2 | 0.2 | 0.2 | |||||||||||||||||||
96 | Flint, MI | 132 | 1 | 164,559 | 78.0 | 81.3 | 1,718 | 12.94 | 0.2 | 0.2 | 0.2 | |||||||||||||||||||
97 | Toledo, OH | 92 | 1 | 315,515 | 69.2 | 69.2 | 1,605 | 14.29 | 0.2 | 0.4 | 0.2 | |||||||||||||||||||
98 | Columbus, IN | 443 | 1 | 142,989 | 96.2 | 96.2 | 1,591 | 11.56 | 0.2 | 0.2 | 0.2 | |||||||||||||||||||
99 | Muskegon, MI | 246 | 1 | 109,590 | 91.8 | 96.3 | 1,570 | 16.97 | 0.2 | 0.1 | 0.2 | |||||||||||||||||||
100 | London, KY | 322 | 1 | 169,032 | 43.9 | 98.1 | 1,565 | 9.44 | 0.2 | 0.2 | 0.2 | |||||||||||||||||||
100 Largest MSAs by ABR | — | 378 | 67,826,936 | 87.7 | 91.2 | 846,362 | 14.77 | 89.6 | 92.7 | 95.4 | ||||||||||||||||||||
Other MSAs | — | 44 | 5,365,250 | 84.5 | 89.7 | 41,101 | 8.82 | 10.4 | 7.3 | 4.6 | ||||||||||||||||||||
TOTAL | — | 422 | 73,192,186 | 87.5 | 91.1 | $ | 887,463 | $ | 14.32 | 100.0 | 100.0 | 100.0 | ||||||||||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 37 | ![]() |
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 | 8,134,323 | 84.7 | % | 90.1 | % | $ | 105,072 | $ | 14.95 | 11.8 | % | 11.1 | % | 11.8 | % | ||||||||||||||||
2 | Texas | 56 | 8,247,069 | 88.3 | % | 93.6 | % | 101,894 | 14.14 | 13.3 | % | 11.3 | % | 11.5 | % | ||||||||||||||||||
3 | California | 27 | 5,082,771 | 91.9 | % | 95.5 | % | 91,893 | 20.46 | 6.4 | % | 6.9 | % | 10.4 | % | ||||||||||||||||||
4 | New York | 29 | 3,691,237 | 92.2 | % | 96.1 | % | 67,202 | 19.45 | 6.9 | % | 5.0 | % | 7.6 | % | ||||||||||||||||||
5 | Pennsylvania | 27 | 4,916,005 | 87.2 | % | 91.3 | % | 61,231 | 16.55 | 6.4 | % | 6.7 | % | 6.9 | % | ||||||||||||||||||
6 | Georgia | 32 | 4,631,287 | 86.9 | % | 88.4 | % | 44,499 | 11.14 | 7.6 | % | 6.3 | % | 5.0 | % | ||||||||||||||||||
7 | North Carolina | 20 | 4,244,634 | 90.1 | % | 92.2 | % | 43,180 | 11.70 | 4.7 | % | 5.8 | % | 4.9 | % | ||||||||||||||||||
8 | Illinois | 18 | 4,105,254 | 78.0 | % | 79.8 | % | 41,459 | 13.67 | 4.3 | % | 5.6 | % | 4.7 | % | ||||||||||||||||||
9 | New Jersey | 16 | 2,832,984 | 86.9 | % | 89.6 | % | 40,012 | 16.87 | 3.8 | % | 3.9 | % | 4.5 | % | ||||||||||||||||||
10 | Ohio | 17 | 3,491,536 | 86.1 | % | 86.5 | % | 35,551 | 13.52 | 4.0 | % | 4.8 | % | 4.0 | % | ||||||||||||||||||
11 | Michigan | 16 | 2,995,654 | 85.4 | % | 93.0 | % | 34,715 | 13.05 | 3.8 | % | 4.1 | % | 3.9 | % | ||||||||||||||||||
12 | Connecticut | 12 | 1,862,565 | 91.2 | % | 91.5 | % | 26,419 | 15.49 | 2.8 | % | 2.5 | % | 3.0 | % | ||||||||||||||||||
13 | Tennessee | 10 | 2,245,264 | 86.8 | % | 94.9 | % | 24,135 | 11.46 | 2.4 | % | 3.1 | % | 2.7 | % | ||||||||||||||||||
14 | Massachusetts | 10 | 1,725,536 | 92.9 | % | 95.7 | % | 19,344 | 15.23 | 2.4 | % | 2.4 | % | 2.2 | % | ||||||||||||||||||
15 | Colorado | 6 | 1,476,324 | 88.8 | % | 90.9 | % | 18,885 | 14.48 | 1.4 | % | 2.0 | % | 2.1 | % | ||||||||||||||||||
16 | Kentucky | 8 | 1,856,913 | 85.9 | % | 96.2 | % | 18,611 | 11.51 | 1.9 | % | 2.5 | % | 2.1 | % | ||||||||||||||||||
17 | Indiana | 10 | 1,711,674 | 88.0 | % | 90.4 | % | 16,005 | 11.39 | 2.4 | % | 2.3 | % | 1.8 | % | ||||||||||||||||||
18 | Minnesota | 9 | 1,364,636 | 89.0 | % | 91.1 | % | 15,898 | 13.69 | 2.1 | % | 1.9 | % | 1.8 | % | ||||||||||||||||||
19 | Virginia | 9 | 1,355,467 | 93.8 | % | 95.2 | % | 15,012 | 12.38 | 2.1 | % | 1.9 | % | 1.7 | % | ||||||||||||||||||
20 | South Carolina | 7 | 1,305,686 | 92.4 | % | 93.0 | % | 14,886 | 12.51 | 1.7 | % | 1.8 | % | 1.7 | % | ||||||||||||||||||
21 | New Hampshire | 5 | 772,528 | 94.7 | % | 95.0 | % | 8,304 | 13.92 | 1.2 | % | 1.1 | % | 0.9 | % | ||||||||||||||||||
22 | Wisconsin | 4 | 703,934 | 76.9 | % | 78.7 | % | 6,486 | 12.30 | 0.9 | % | 1.0 | % | 0.7 | % | ||||||||||||||||||
23 | Maryland | 3 | 410,713 | 97.6 | % | 97.6 | % | 5,445 | 13.86 | 0.7 | % | 0.6 | % | 0.6 | % | ||||||||||||||||||
24 | Missouri | 5 | 655,984 | 90.4 | % | 94.4 | % | 5,350 | 8.82 | 1.2 | % | 0.9 | % | 0.6 | % | ||||||||||||||||||
25 | Alabama | 2 | 774,035 | 64.7 | % | 64.7 | % | 5,021 | 10.19 | 0.5 | % | 1.1 | % | 0.6 | % | ||||||||||||||||||
26 | Kansas | 2 | 378,962 | 90.8 | % | 93.3 | % | 3,415 | 12.35 | 0.5 | % | 0.5 | % | 0.4 | % | ||||||||||||||||||
27 | Arizona | 2 | 284,875 | 79.2 | % | 94.5 | % | 3,396 | 12.61 | 0.5 | % | 0.4 | % | 0.4 | % | ||||||||||||||||||
28 | Iowa | 2 | 512,825 | 96.4 | % | 97.3 | % | 3,146 | 6.37 | 0.5 | % | 0.7 | % | 0.4 | % | ||||||||||||||||||
29 | West Virginia | 2 | 251,500 | 96.0 | % | 96.0 | % | 2,080 | 8.61 | 0.5 | % | 0.3 | % | 0.2 | % | ||||||||||||||||||
30 | Delaware | 1 | 191,974 | 81.9 | % | 81.9 | % | 1,982 | 13.64 | 0.2 | % | 0.3 | % | 0.2 | % | ||||||||||||||||||
31 | Vermont | 1 | 224,514 | 98.4 | % | 98.4 | % | 1,937 | 8.77 | 0.2 | % | 0.3 | % | 0.2 | % | ||||||||||||||||||
32 | Oklahoma | 1 | 186,851 | 100.0 | % | 100.0 | % | 1,924 | 10.30 | 0.2 | % | 0.3 | % | 0.2 | % | ||||||||||||||||||
33 | Maine | 1 | 287,513 | 90.7 | % | 90.7 | % | 1,923 | 20.80 | 0.2 | % | 0.4 | % | 0.2 | % | ||||||||||||||||||
34 | Louisiana | 2 | 279,159 | 63.4 | % | 77.5 | % | 1,151 | 5.51 | 0.5 | % | 0.4 | % | 0.1 | % | ||||||||||||||||||
TOTAL | 422 | 73,192,186 | 87.5 | % | 91.1 | % | $ | 887,463 | $ | 14.32 | 100.0 | % | 100.0 | % | 100.0 | % | |||||||||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 38 | ![]() |
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 | 50.9 | % | $ | 3,519 | $ | 13.15 | 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 | 97.0 | % | 1,502 | 6.68 | Walmart Supercenter | Burke's Outlet | - | ||||||||||||||||||
3 | Glendale Galleria | Glendale | AZ | Phoenix-Mesa-Scottsdale, AZ | 1991 | 119,525 | 87.0 | % | 1,363 | 13.11 | - | Gymnasium Academy, LA Fitness, Sears Outlet | XL Health Club | ||||||||||||||||||
4 | Northmall Centre | Tucson | AZ | Tucson, AZ | 1996 | 165,350 | 100.0 | % | 2,033 | 12.30 | Sam's Club* | CareMore, Defy-Tucson, Tuesday Morning, Stein Mart | - | ||||||||||||||||||
5 | Bakersfield Plaza | Bakersfield | CA | Bakersfield, CA | 1970 | 240,068 | 98.0 | % | 3,575 | 15.48 | Lassens Natural Foods & Vitamins | AMC Theatres, Burlington Stores, Five Below, In Shape Fitness, Ross Dress for Less | Hobby Lobby | ||||||||||||||||||
6 | Carmen Plaza | Camarillo | CA | Oxnard-Thousand Oaks-Ventura, CA | 2000 | 129,173 | 96.4 | % | 2,395 | 20.31 | Trader Joe's* | 24 Hour Fitness, CVS, Michaels | - | ||||||||||||||||||
7 | Plaza Rio Vista | Cathedral | CA | Riverside-San Bernardino-Ontario, CA | 2005 | 71,819 | 96.3 | % | 1,255 | 19.31 | Stater Bros. | - | - | ||||||||||||||||||
8 | Cudahy Plaza | Cudahy | CA | Los Angeles-Long Beach-Anaheim, CA | 1994 | 127,267 | 70.8 | % | 1,980 | 21.99 | - | Big Lots, Chuze Fitness | - | ||||||||||||||||||
9 | University Mall | Davis | CA | Sacramento--Roseville--Arden-Arcade, CA | 1964 | 103,695 | 92.8 | % | 1,755 | 18.23 | Trader Joe's | Forever 21, World Market | - | ||||||||||||||||||
10 | Felicita Plaza | Escondido | CA | San Diego-Carlsbad, CA | 2001 | 98,594 | 98.8 | % | 1,471 | 15.10 | Vons (Albertsons) | Chuze Fitness | - | ||||||||||||||||||
11 | Felicita Town Center | Escondido | CA | San Diego-Carlsbad, CA | 1987 | 124,670 | 95.6 | % | 2,719 | 22.81 | Major Market, Trader Joe's | Rite Aid | - | ||||||||||||||||||
12 | Arbor - Broadway Faire (2) | Fresno | CA | Fresno, CA | 1995 | 261,344 | 98.3 | % | 3,881 | 15.11 | Smart & Final Extra! | PetSmart, The Home Depot, United Artists Theatres | - | ||||||||||||||||||
13 | Lompoc Center | Lompoc | CA | Santa Maria-Santa Barbara, CA | 1960 | 179,549 | 100.0 | % | 2,226 | 13.37 | Vons (Albertsons) | Five Below, Harbor Freight Tools, Marshalls, Michaels, Ulta | - | ||||||||||||||||||
14 | Briggsmore Plaza | Modesto | CA | Modesto, CA | 1998 | 92,315 | 74.3 | % | 984 | 15.49 | Grocery Outlet | Sears Outlet | In Shape Fitness | ||||||||||||||||||
15 | Montebello Plaza | Montebello | CA | Los Angeles-Long Beach-Anaheim, CA | 1974 | 283,631 | 99.6 | % | 5,829 | 21.14 | Albertsons | Best Buy, CVS, Kohl's, Five Below, Ross Dress for Less | - | ||||||||||||||||||
16 | California Oaks Center | Murrieta | CA | Riverside-San Bernardino-Ontario, CA | 1990 | 124,481 | 98.4 | % | 2,076 | 17.50 | Barons Market | Crunch Fitness, Dollar Tree | - | ||||||||||||||||||
17 | Pacoima Center | Pacoima | CA | Los Angeles-Long Beach-Anaheim, CA | 1995 | 202,773 | 100.0 | % | 2,201 | 10.86 | Food 4 Less (Kroger) | Ross Dress for Less, Target | - | ||||||||||||||||||
18 | Metro 580 | Pleasanton | CA | San Francisco-Oakland-Hayward, CA | 1996 | 177,573 | 100.0 | % | 2,785 | 33.94 | - | Kohl's, Party City | Walmart | ||||||||||||||||||
19 | Rose Pavilion (3) | Pleasanton | CA | San Francisco-Oakland-Hayward, CA | 2019 | 328,958 | 98.4 | % | 8,431 | 26.11 | 99 Ranch Market, Trader Joe's | CVS, Macy's Home Store, Restoration Hardware, Total Wine & More | - | ||||||||||||||||||
20 | Puente Hills Town Center | Rowland Heights | CA | Los Angeles-Long Beach-Anaheim, CA | 1984 | 258,685 | 96.7 | % | 6,041 | 24.14 | - | Marshalls, Planet Fitness | - | ||||||||||||||||||
21 | Ocean View Plaza | San Clemente | CA | Los Angeles-Long Beach-Anaheim, CA | 1990 | 169,963 | 95.8 | % | 4,948 | 30.38 | Ralphs (Kroger), Trader Joe's | Crunch Fitness, CVS | - | ||||||||||||||||||
22 | Plaza By The Sea | San Clemente | CA | Los Angeles-Long Beach-Anaheim, CA | 1976 | 49,089 | 98.2 | % | 772 | 17.70 | Stater Bros. | - | - | ||||||||||||||||||
23 | Village at Mira Mesa (3) | San Diego | CA | San Diego-Carlsbad, CA | 2019 | 426,045 | 99.1 | % | 9,830 | 24.10 | Sprouts Farmers Market, Vons (Albertsons) | Bed Bath & Beyond, BevMo, CVS, Marshalls, Michaels, Mira Mesa Lanes | - | ||||||||||||||||||
24 | San Dimas Plaza | San Dimas | CA | Los Angeles-Long Beach-Anaheim, CA | 1986 | 164,757 | 100.0 | % | 3,853 | 23.39 | Smart & Final Extra! | Harbor Freight Tools, T.J.Maxx | Rite Aid | ||||||||||||||||||
25 | Bristol Plaza | Santa Ana | CA | Los Angeles-Long Beach-Anaheim, CA | 2003 | 111,403 | 100.0 | % | 3,068 | 28.10 | Trader Joe's | Big Lots, Petco, Rite Aid | - | ||||||||||||||||||
26 | Gateway Plaza | Santa Fe Springs | CA | Los Angeles-Long Beach-Anaheim, CA | 2002 | 289,268 | 100.0 | % | 3,550 | 23.87 | El Super, Walmart Supercenter | LA Fitness, Ross Dress for Less | Target | ||||||||||||||||||
27 | Santa Paula Center | Santa Paula | CA | Oxnard-Thousand Oaks-Ventura, CA | 1995 | 191,475 | 95.9 | % | 1,943 | 10.83 | Vons (Albertsons) | Ace Hardware, Big Lots | - | ||||||||||||||||||
28 | Vail Ranch Center | Temecula | CA | Riverside-San Bernardino-Ontario, CA | 2003 | 201,903 | 89.3 | % | 2,818 | 21.70 | Stater Bros. | Rite Aid, Stein Mart | - | ||||||||||||||||||
29 | Country Hills Shopping Center | Torrance | CA | Los Angeles-Long Beach-Anaheim, CA | 1977 | 53,200 | 100.0 | % | 1,044 | 19.62 | Ralphs (Kroger) | - | - | ||||||||||||||||||
30 | Upland Town Square | Upland | CA | Riverside-San Bernardino-Ontario, CA | 1994 | 101,850 | 90.9 | % | 1,865 | 20.14 | Sprouts Farmers Market | - | - | ||||||||||||||||||
31 | Gateway Plaza - Vallejo (2) | Vallejo | CA | Vallejo-Fairfield, CA | 2018 | 519,223 | 86.6 | % | 8,598 | 19.41 | Costco* | Bed Bath & Beyond, Century Theatres, DSW, Marshalls, Michaels, OfficeMax, Party City, Petco, Ross Dress for Less, Ulta | Target | ||||||||||||||||||
32 | Arvada Plaza | Arvada | CO | Denver-Aurora-Lakewood, CO | 1994 | 95,236 | 100.0 | % | 758 | 7.96 | King Soopers (Kroger) | Arc | - | ||||||||||||||||||
33 | Arapahoe Crossings | Aurora | CO | Denver-Aurora-Lakewood, CO | 1996 | 472,518 | 99.7 | % | 7,111 | 15.09 | King Soopers (Kroger) | 2nd & Charles, AMC Theatres, Big Lots, Burlington Stores, buybuy BABY, Kohl's, Planet Fitness, Stein Mart | - | ||||||||||||||||||
34 | Aurora Plaza | Aurora | CO | Denver-Aurora-Lakewood, CO | 1996 | 178,491 | 96.9 | % | 1,707 | 10.23 | King Soopers (Kroger) | Cinema Latino, Gen-X | - | ||||||||||||||||||
35 | Villa Monaco | Denver | CO | Denver-Aurora-Lakewood, CO | 1978 | 121,101 | 91.2 | % | 1,631 | 14.77 | - | Chuze Fitness | - | ||||||||||||||||||
36 | Superior Marketplace | Superior | CO | Boulder, CO | 1997 | 278,419 | 97.3 | % | 4,387 | 16.20 | Whole Foods Market, Costco*, SuperTarget* | Goldfish Swim School, Party City, Stickley Furniture, T.J.Maxx, Ulta | - | ||||||||||||||||||
37 | 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 | - | ||||||||||||||||||
38 | The Shoppes at Fox Run | Glastonbury | CT | Hartford-West Hartford-East Hartford, CT | 1974 | 106,406 | 92.4 | % | 2,574 | 26.17 | Whole Foods Market | Petco | - | ||||||||||||||||||
39 | Groton Square | Groton | CT | Norwich-New London, CT | 1987 | 196,802 | 97.0 | % | 2,435 | 12.76 | Super Stop & Shop (Ahold Delhaize) | Kohl's | Walmart | ||||||||||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 39 | ![]() |
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 | Parkway Plaza | Hamden | CT | New Haven-Milford, CT | 2006 | 72,353 | 97.5 | % | 979 | 13.87 | PriceRite (Wakefern) | - | The Home Depot | ||||||||||||||||||
41 | The Manchester Collection | Manchester | CT | Hartford-West Hartford-East Hartford, CT | 2001 | 339,755 | 85.9 | % | 4,210 | 14.43 | Walmart Supercenter* | A.C. Moore, Ashley Furniture, Bed Bath & Beyond, Big Bob's Flooring Outlet, Cost Plus World Market, DSW, Edge Fitness, Hobby Lobby, Men's Wearhouse, Plaza Azteca | Best Buy, The Home Depot, Walmart | ||||||||||||||||||
42 | Chamberlain Plaza | Meriden | CT | New Haven-Milford, CT | 2004 | 54,302 | 100.0 | % | 530 | 9.76 | - | Dollar Tree, Savers | - | ||||||||||||||||||
43 | Turnpike Plaza | Newington | CT | Hartford-West Hartford-East Hartford, CT | 2004 | 149,894 | 100.0 | % | 2,479 | 16.54 | Price Chopper | Dick's Sporting Goods | - | ||||||||||||||||||
44 | North Haven Crossing | North Haven | CT | New Haven-Milford, CT | 1993 | 103,865 | 96.1 | % | 1,746 | 17.49 | - | Barnes & Noble, Dollar Tree, DSW, Five Below, Lumber Liquidators, PetSmart | - | ||||||||||||||||||
45 | Christmas Tree Plaza | Orange | CT | New Haven-Milford, CT | 1996 | 132,791 | 97.0 | % | 1,737 | 13.49 | - | A.C. Moore, Christmas Tree Shops | - | ||||||||||||||||||
46 | Stratford Square | Stratford | CT | Bridgeport-Stamford-Norwalk, CT | 1984 | 161,075 | 100.0 | % | 2,485 | 15.43 | - | LA Fitness, Marshalls | - | ||||||||||||||||||
47 | Torrington Plaza | Torrington | CT | Torrington, CT | 1994 | 125,496 | 85.1 | % | 1,150 | 10.77 | - | Eblens Outlet, JOANN, Staples, T.J.Maxx | - | ||||||||||||||||||
48 | Waterbury Plaza | Waterbury | CT | New Haven-Milford, CT | 2000 | 183,096 | 83.5 | % | 2,071 | 13.55 | Super Stop & Shop (Ahold Delhaize) | Dollar Tree | Target | ||||||||||||||||||
49 | Waterford Commons | Waterford | CT | Norwich-New London, CT | 2004 | 236,730 | 84.5 | % | 4,023 | 20.10 | - | Dick’s Sporting Goods, DSW, Michaels, Party City, Ulta | Best Buy, Raymour & Flanigan | ||||||||||||||||||
50 | North Dover Center | Dover | DE | Dover, DE | 1989 | 191,974 | 81.9 | % | 1,982 | 13.64 | - | Kirkland's, Party City, Staples, T.J.Maxx | - | ||||||||||||||||||
51 | Coastal Way - Coastal Landing | Brooksville | FL | Tampa-St. Petersburg-Clearwater, FL | 2008 | 374,598 | 93.7 | % | 3,650 | 18.08 | - | Bed Bath & Beyond, Belk, Marshalls, Michaels, Office Depot, Petco, Sears, Ulta | - | ||||||||||||||||||
52 | Clearwater Mall | Clearwater | FL | Tampa-St. Petersburg-Clearwater, FL | 1973 | 300,929 | 93.3 | % | 6,463 | 23.01 | Costco*, SuperTarget* | Burlington Stores, David's Bridal, Michaels, PetSmart, Ross Dress for Less | Lowe's | ||||||||||||||||||
53 | Coconut Creek Plaza | Coconut Creek | FL | Miami-Fort Lauderdale-West Palm Beach, FL | 2005 | 264,129 | 88.3 | % | 3,401 | 14.58 | Publix | Big Lots, Off the Wall Trampoline, Planet Fitness | - | ||||||||||||||||||
54 | Century Plaza Shopping Center | Deerfield Beach | FL | Miami-Fort Lauderdale-West Palm Beach, FL | 2006 | 87,283 | 94.9 | % | 1,976 | 23.86 | - | Broward County Library, CVS | - | ||||||||||||||||||
55 | Northgate Shopping Center | DeLand | FL | Deltona-Daytona Beach-Ormond Beach, FL | 1993 | 182,454 | 94.1 | % | 1,511 | 8.80 | Publix | Big Lots, Planet Fitness, Tractor Supply | - | ||||||||||||||||||
56 | Sun Plaza | Ft. Walton Beach | FL | Crestview-Fort Walton Beach-Destin, FL | 2004 | 158,118 | 96.9 | % | 1,730 | 11.30 | Publix | Bealls Outlet, Books-A-Million, Office Depot, T.J.Maxx | - | ||||||||||||||||||
57 | Normandy Square | Jacksonville | FL | Jacksonville, FL | 1996 | 89,822 | 100.0 | % | 854 | 9.79 | Winn-Dixie (Southeastern Grocers) | Ace Hardware, Family Dollar | - | ||||||||||||||||||
58 | Regency Park Shopping Center | Jacksonville | FL | Jacksonville, FL | 1985 | 334,065 | 88.2 | % | 2,355 | 8.63 | - | American Signature Furniture, Bealls Outlet, Books-A-Million, David's Bridal, Ollie's Bargain Outlet | - | ||||||||||||||||||
59 | The Shoppes at Southside | Jacksonville | FL | Jacksonville, FL | 2004 | 112,613 | 100.0 | % | 2,359 | 20.95 | - | Best Buy, David's Bridal, Urban Air Adventure Park | - | ||||||||||||||||||
60 | Ventura Downs | Kissimmee | FL | Orlando-Kissimmee-Sanford, FL | 2018 | 98,191 | 97.5 | % | 1,705 | 17.81 | - | LA Fitness | - | ||||||||||||||||||
61 | Marketplace at Wycliffe | Lake Worth | FL | Miami-Fort Lauderdale-West Palm Beach, FL | 2002 | 133,520 | 94.6 | % | 2,265 | 17.93 | Walmart Neighborhood Market | Walgreens | - | ||||||||||||||||||
62 | Venetian Isle Shopping Ctr | Lighthouse Point | FL | Miami-Fort Lauderdale-West Palm Beach, FL | 1992 | 182,314 | 93.4 | % | 1,856 | 11.23 | Publix | Dollar Tree, Petco, Staples, Tuesday Morning, T.J.Maxx | - | ||||||||||||||||||
63 | Marco Town Center (3) | Marco Island | FL | Naples-Immokalee-Marco Island, FL | 2019 | 109,745 | 75.3 | % | 1,782 | 21.56 | Publix | - | - | ||||||||||||||||||
64 | Mall at 163rd Street | Miami | FL | Miami-Fort Lauderdale-West Palm Beach, FL | 2007 | 341,830 | 79.2 | % | 2,485 | 13.05 | Walmart Supercenter* | Citi Trends, Marshalls, Ross Dress for Less | The Home Depot | ||||||||||||||||||
65 | Shops at Palm Lakes | Miami | FL | Miami-Fort Lauderdale-West Palm Beach, FL | 1996 | 256,719 | 52.1 | % | 2,396 | 17.91 | Fresco y Más (Southeastern Grocers) | Ross Dress for Less | - | ||||||||||||||||||
66 | Freedom Square | Naples | FL | Naples-Immokalee-Marco Island, FL | 1995 | 211,839 | 44.7 | % | 1,275 | 13.47 | Publix | - | - | ||||||||||||||||||
67 | Naples Plaza | Naples | FL | Naples-Immokalee-Marco Island, FL | 2013 | 201,795 | 100.0 | % | 3,648 | 18.39 | Publix | Marshalls, Office Depot, PGA TOUR Superstore | - | ||||||||||||||||||
68 | Park Shore Plaza | Naples | FL | Naples-Immokalee-Marco Island, FL | 2018 | 256,948 | 98.3 | % | 4,806 | 20.09 | The Fresh Market | Big Lots, Burlington Stores, HomeGoods, Kirkland's, Party City, Saks OFF Fifth, Yard House | - | ||||||||||||||||||
69 | Chelsea Place | New Port Richey | FL | Tampa-St. Petersburg-Clearwater, FL | 1992 | 81,144 | 99.1 | % | 1,050 | 13.06 | Publix | Zone Fitness Club | - | ||||||||||||||||||
70 | Presidential Plaza West | North Lauderdale | FL | Miami-Fort Lauderdale-West Palm Beach, FL | 2006 | 88,441 | 96.8 | % | 981 | 11.46 | Sedano's | Family Dollar | - | ||||||||||||||||||
71 | Colonial Marketplace | Orlando | FL | Orlando-Kissimmee-Sanford, FL | 1986 | 141,069 | 100.0 | % | 2,446 | 17.34 | - | Burlington Stores, LA Fitness | Target | ||||||||||||||||||
72 | Conway Crossing | Orlando | FL | Orlando-Kissimmee-Sanford, FL | 2002 | 76,321 | 97.7 | % | 1,042 | 13.97 | Publix | - | - | ||||||||||||||||||
73 | Hunter's Creek Plaza | Orlando | FL | Orlando-Kissimmee-Sanford, FL | 1998 | 73,204 | 89.6 | % | 1,067 | 16.26 | Lucky's Market | Office Depot | - | ||||||||||||||||||
74 | Pointe Orlando (3) | Orlando | FL | Orlando-Kissimmee-Sanford, FL | 2019 | 420,005 | 91.8 | % | 9,488 | 25.39 | - | Capital Grille, Hampton Social, Main Event, Regal Cinemas | - | ||||||||||||||||||
75 | Martin Downs Town Center | Palm City | FL | Port St. Lucie, FL | 1996 | 64,546 | 95.7 | % | 751 | 12.16 | Publix | - | - | ||||||||||||||||||
76 | Martin Downs Village Center | Palm City | FL | Port St. Lucie, FL | 1987 | 165,770 | 95.9 | % | 3,042 | 19.65 | - | Coastal Care, Walgreens | - | ||||||||||||||||||
77 | 23rd Street Station | Panama City | FL | Panama City, FL | 1995 | 98,827 | 93.0 | % | 1,243 | 13.53 | Publix | - | - | ||||||||||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 40 | ![]() |
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 | Panama City Square | Panama City | FL | Panama City, FL | 1989 | 298,685 | 100.0 | % | 2,452 | 8.21 | Walmart Supercenter | Big Lots, Harbor Freight Tools, HomeGoods, T.J.Maxx | - | ||||||||||||||||||
79 | East Port Plaza | Port St. Lucie | FL | Port St. Lucie, FL | 1991 | 162,831 | 81.8 | % | 1,905 | 14.31 | Publix | Fortis Institute, Walgreens | - | ||||||||||||||||||
80 | Shoppes of Victoria Square | Port St. Lucie | FL | Port St. Lucie, FL | 1990 | 95,186 | 94.5 | % | 1,173 | 13.04 | Winn-Dixie (Southeastern Grocers) | Dollar Tree | - | ||||||||||||||||||
81 | Lake St. Charles | Riverview | FL | Tampa-St. Petersburg-Clearwater, FL | 1999 | 61,015 | 100.0 | % | 709 | 11.62 | Winn-Dixie (Southeastern Grocers) | - | - | ||||||||||||||||||
82 | Cobblestone Village | Royal Palm Beach | FL | Miami-Fort Lauderdale-West Palm Beach, FL | 2005 | 39,404 | 97.4 | % | 790 | 20.58 | SuperTarget* | The Zoo Health Club | - | ||||||||||||||||||
83 | Beneva Village Shoppes (3) | Sarasota | FL | North Port-Sarasota-Bradenton, FL | 2019 | 143,662 | 95.5 | % | 2,328 | 16.97 | Publix | Harbor Freight Tools, Pet Supermarket, Walgreens | - | ||||||||||||||||||
84 | Sarasota Village | Sarasota | FL | North Port-Sarasota-Bradenton, FL | 1972 | 173,184 | 100.0 | % | 2,078 | 12.30 | Publix | Big Lots, Crunch Fitness, HomeGoods | - | ||||||||||||||||||
85 | Atlantic Plaza | Satellite Beach | FL | Palm Bay-Melbourne-Titusville, FL | 2008 | 130,301 | 82.0 | % | 1,432 | 13.41 | Publix | Planet Fitness | - | ||||||||||||||||||
86 | 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 | - | ||||||||||||||||||
87 | Cobblestone Village | St. Augustine | FL | Jacksonville, FL | 2003 | 265,464 | 98.0 | % | 3,722 | 14.30 | Publix | Bealls, Bed Bath & Beyond, Michaels, Party City, Petco | - | ||||||||||||||||||
88 | Dolphin Village | St. Pete Beach | FL | Tampa-St. Petersburg-Clearwater, FL | 1990 | 136,224 | 77.3 | % | 1,989 | 18.88 | Publix | CVS, Dollar Tree | - | ||||||||||||||||||
89 | Bay Pointe Plaza | St. Petersburg | FL | Tampa-St. Petersburg-Clearwater, FL | 2016 | 95,760 | 98.3 | % | 1,641 | 17.43 | Publix | Bealls Outlet, Pet Supermarket | - | ||||||||||||||||||
90 | Rutland Plaza | St. Petersburg | FL | Tampa-St. Petersburg-Clearwater, FL | 2002 | 149,562 | 100.0 | % | 1,441 | 9.64 | Winn-Dixie (Southeastern Grocers) | Bealls Outlet, Big Lots | - | ||||||||||||||||||
91 | Skyway Plaza | St. Petersburg | FL | Tampa-St. Petersburg-Clearwater, FL | 2002 | 110,799 | 77.5 | % | 728 | 8.79 | - | Dollar Tree | - | ||||||||||||||||||
92 | Tyrone Gardens | St. Petersburg | FL | Tampa-St. Petersburg-Clearwater, FL | 1998 | 202,384 | 82.8 | % | 1,692 | 10.10 | Winn-Dixie (Southeastern Grocers) | Big Lots, Chuck E. Cheese’s | - | ||||||||||||||||||
93 | Downtown Publix | Stuart | FL | Port St. Lucie, FL | 2000 | 151,246 | 82.1 | % | 1,584 | 12.76 | Publix | Family Dollar, Flooring USA | - | ||||||||||||||||||
94 | Sunrise Town Center | Sunrise | FL | Miami-Fort Lauderdale-West Palm Beach, FL | 1989 | 110,109 | 95.1 | % | 1,284 | 12.26 | Patel Brothers | Dollar Tree, LA Fitness | Walmart | ||||||||||||||||||
95 | Carrollwood Center | Tampa | FL | Tampa-St. Petersburg-Clearwater, FL | 2002 | 92,678 | 92.4 | % | 1,530 | 17.87 | Publix | Rarehues | - | ||||||||||||||||||
96 | Ross Plaza | Tampa | FL | Tampa-St. Petersburg-Clearwater, FL | 1996 | 89,885 | 100.0 | % | 1,415 | 15.74 | - | Deal$, Ross Dress for Less, Lumber Liquidators | - | ||||||||||||||||||
97 | Shoppes at Tarpon | Tarpon Springs | FL | Tampa-St. Petersburg-Clearwater, FL | 2003 | 145,832 | 100.0 | % | 2,367 | 16.23 | Publix | Petco, T.J.Maxx, Ulta | - | ||||||||||||||||||
98 | Venice Plaza | Venice | FL | North Port-Sarasota-Bradenton, FL | 1999 | 132,345 | 97.5 | % | 949 | 7.35 | Winn-Dixie (Southeastern Grocers) | Lumber Liquidators, Pet Supermarket, T.J.Maxx | - | ||||||||||||||||||
99 | Venice Shopping Center | Venice | FL | North Port-Sarasota-Bradenton, FL | 2000 | 109,801 | 87.1 | % | 626 | 6.55 | Publix | Bealls Outlet | - | ||||||||||||||||||
100 | Venice Village Shoppes | Venice | FL | North Port-Sarasota-Bradenton, FL | 1989 | 175,148 | 88.9 | % | 2,364 | 15.18 | Publix | JOANN, Planet Fitness | - | ||||||||||||||||||
101 | Albany Plaza | Albany | GA | Albany, GA | 1995 | 114,169 | 73.7 | % | 582 | 6.92 | Harveys (Southeastern Grocers) | Big Lots, OK Beauty & Fashions Outlet | - | ||||||||||||||||||
102 | Mansell Crossing | Alpharetta | GA | Atlanta-Sandy Springs-Roswell, GA | 1993 | 332,364 | 96.2 | % | 5,154 | 20.25 | - | AMC Theatres, Barnes & Noble, DSW, Macy's Furniture Gallery, REI, T.J.Maxx | - | ||||||||||||||||||
103 | Perlis Plaza | Americus | GA | Americus, GA | 1972 | 165,315 | 83.1 | % | 835 | 6.08 | - | Belk, Roses | - | ||||||||||||||||||
104 | Northeast Plaza | Atlanta | GA | Atlanta-Sandy Springs-Roswell, GA | 1952 | 445,042 | 93.4 | % | 4,752 | 11.66 | City Farmers Market | dd's Discounts (Ross), NCG Cinemas | - | ||||||||||||||||||
105 | Augusta West Plaza | Augusta | GA | Augusta-Richmond County, GA-SC | 2006 | 170,681 | 89.3 | % | 1,152 | 7.56 | - | At Home, Dollar Tree | - | ||||||||||||||||||
106 | Sweetwater Village | Austell | GA | Atlanta-Sandy Springs-Roswell, GA | 1985 | 66,197 | 100.0 | % | 543 | 8.20 | Food Depot | Family Dollar | - | ||||||||||||||||||
107 | Vineyards at Chateau Elan | Braselton | GA | Atlanta-Sandy Springs-Roswell, GA | 2002 | 79,047 | 95.6 | % | 1,129 | 14.93 | Publix | - | - | ||||||||||||||||||
108 | Cedar Plaza | Cedartown | GA | Cedartown, GA | 1994 | 83,300 | 100.0 | % | 714 | 8.57 | Kroger | Planet Fitness | - | ||||||||||||||||||
109 | Conyers Plaza | Conyers | GA | Atlanta-Sandy Springs-Roswell, GA | 2001 | 171,374 | 100.0 | % | 2,318 | 13.53 | Walmart Supercenter* | JOANN, PetSmart, Value Village | The Home Depot | ||||||||||||||||||
110 | Cordele Square | Cordele | GA | Cordele, GA | 2002 | 127,953 | 85.4 | % | 745 | 6.82 | Harveys (Southeastern Grocers) | Belk, Citi Trends, Cordele Theatres | - | ||||||||||||||||||
111 | Covington Gallery | Covington | GA | Atlanta-Sandy Springs-Roswell, GA | 1991 | 174,857 | 46.0 | % | 666 | 8.29 | Ingles | - | - | ||||||||||||||||||
112 | Salem Road Station | Covington | GA | Atlanta-Sandy Springs-Roswell, GA | 2000 | 67,270 | 98.1 | % | 794 | 12.04 | Publix | - | - | ||||||||||||||||||
113 | Keith Bridge Commons | Cumming | GA | Atlanta-Sandy Springs-Roswell, GA | 2002 | 94,886 | 93.9 | % | 1,201 | 13.48 | Kroger | - | - | ||||||||||||||||||
114 | Northside | Dalton | GA | Dalton, GA | 2001 | 73,931 | 97.3 | % | 610 | 8.48 | Food City | Family Dollar | - | ||||||||||||||||||
115 | Cosby Station | Douglasville | GA | Atlanta-Sandy Springs-Roswell, GA | 1994 | 77,811 | 90.8 | % | 787 | 11.14 | Publix | - | - | ||||||||||||||||||
116 | Park Plaza | Douglasville | GA | Atlanta-Sandy Springs-Roswell, GA | 1986 | 46,670 | 81.7 | % | 706 | 18.61 | Kroger* | - | - | ||||||||||||||||||
117 | Westgate | Dublin | GA | Dublin, GA | 2004 | 110,738 | 81.5 | % | 560 | 6.47 | - | Big Lots | The Home Depot | ||||||||||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 41 | ![]() |
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 | ||||||||||||||||||||
118 | 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 | - | ||||||||||||||||||
119 | Banks Station | Fayetteville | GA | Atlanta-Sandy Springs-Roswell, GA | 2006 | 178,871 | 77.6 | % | 1,169 | 10.07 | Food Depot | Cinemark, Staples | - | ||||||||||||||||||
120 | Barrett Place | Kennesaw | GA | Atlanta-Sandy Springs-Roswell, GA | 1992 | 218,818 | 100.0 | % | 2,465 | 11.27 | ALDI | Best Buy, Michaels, OfficeMax, PetSmart, The Furniture Mall | - | ||||||||||||||||||
121 | Shops of Huntcrest | Lawrenceville | GA | Atlanta-Sandy Springs-Roswell, GA | 2003 | 97,040 | 98.8 | % | 1,386 | 14.46 | Publix | - | - | ||||||||||||||||||
122 | Mableton Walk | Mableton | GA | Atlanta-Sandy Springs-Roswell, GA | 1994 | 105,884 | 88.6 | % | 1,297 | 13.83 | Publix | - | - | ||||||||||||||||||
123 | The Village at Mableton | Mableton | GA | Atlanta-Sandy Springs-Roswell, GA | 1959 | 229,013 | 53.5 | % | 967 | 7.89 | - | Dollar Tree, Ollie's Bargain Outlet, Planet Fitness | - | ||||||||||||||||||
124 | Marshalls at Eastlake | Marietta | GA | Atlanta-Sandy Springs-Roswell, GA | 1982 | 54,976 | 91.8 | % | 542 | 10.74 | - | Marshalls | - | ||||||||||||||||||
125 | New Chastain Corners | Marietta | GA | Atlanta-Sandy Springs-Roswell, GA | 2004 | 113,079 | 92.4 | % | 1,120 | 10.72 | Kroger | - | - | ||||||||||||||||||
126 | Pavilions at Eastlake | Marietta | GA | Atlanta-Sandy Springs-Roswell, GA | 1996 | 154,224 | 90.3 | % | 1,944 | 13.96 | Kroger | Kayhill's Sports Bar and Grill | - | ||||||||||||||||||
127 | Creekwood Village | Rex | GA | Atlanta-Sandy Springs-Roswell, GA | 1990 | 69,778 | 92.1 | % | 570 | 8.87 | Food Depot | - | - | ||||||||||||||||||
128 | Holcomb Bridge Crossing | Roswell | GA | Atlanta-Sandy Springs-Roswell, GA | 1988 | 93,420 | 97.1 | % | 998 | 11.00 | - | PGA TOUR Superstore | - | ||||||||||||||||||
129 | Victory Square | Savannah | GA | Savannah, GA | 2007 | 122,719 | 62.8 | % | 1,326 | 17.20 | SuperTarget* | Citi Trends, Dollar Tree, Staples | The Home Depot | ||||||||||||||||||
130 | Stockbridge Village | Stockbridge | GA | Atlanta-Sandy Springs-Roswell, GA | 2008 | 188,135 | 98.4 | % | 2,975 | 16.07 | Kroger | - | - | ||||||||||||||||||
131 | Stone Mountain Festival | Stone Mountain | GA | Atlanta-Sandy Springs-Roswell, GA | 2006 | 347,091 | 99.1 | % | 1,852 | 5.38 | Walmart Supercenter | Hobby Lobby, NCG Cinemas | - | ||||||||||||||||||
132 | Wilmington Island | Wilmington Island | GA | Savannah, GA | 1985 | 101,462 | 92.0 | % | 998 | 10.69 | Kroger | - | - | ||||||||||||||||||
133 | Haymarket Mall | Des Moines | IA | Des Moines-West Des Moines, IA | 1979 | 243,120 | 99.0 | % | 1,499 | 6.35 | - | Burlington Stores, Harbor Freight Tools, Hobby Lobby | - | ||||||||||||||||||
134 | Haymarket Square | Des Moines | IA | Des Moines-West Des Moines, IA | 1979 | 269,705 | 95.7 | % | 1,647 | 6.38 | Price Chopper | Aspen Athletic Clubs, Big Lots, Northern Tool + Equipment, Office Depot | - | ||||||||||||||||||
135 | Annex of Arlington | Arlington Heights | IL | Chicago-Naperville-Elgin, IL-IN-WI | 1999 | 199,463 | 87.3 | % | 3,288 | 18.88 | Trader Joe's | Binny's Beverage Depot, Chuck E. Cheese's, Kirkland's, Petco, Ulta | - | ||||||||||||||||||
136 | Ridge Plaza | Arlington Heights | IL | Chicago-Naperville-Elgin, IL-IN-WI | 2000 | 151,643 | 93.1 | % | 2,085 | 14.77 | - | XSport Fitness | Kohl's | ||||||||||||||||||
137 | Bartonville Square | Bartonville | IL | Peoria, IL | 2001 | 61,678 | 87.2 | % | 270 | 5.36 | Kroger | - | - | ||||||||||||||||||
138 | Southfield Plaza | Bridgeview | IL | Chicago-Naperville-Elgin, IL-IN-WI | 2006 | 198,190 | 88.7 | % | 2,124 | 12.08 | Shop & Save Market | Hobby Lobby, Octapharma, Walgreens | - | ||||||||||||||||||
139 | Commons of Chicago Ridge | Chicago Ridge | IL | Chicago-Naperville-Elgin, IL-IN-WI | 1998 | 324,977 | 94.7 | % | 4,210 | 14.74 | - | Marshalls, The Home Depot, Ross Dress for Less, XSport Fitness | - | ||||||||||||||||||
140 | Rivercrest Shopping Center | Crestwood | IL | Chicago-Naperville-Elgin, IL-IN-WI | 1992 | 548,531 | 76.1 | % | 5,416 | 15.09 | - | AMC Theatres, Best Buy, Five Below, Party City, PetSmart, Planet Fitness, Ross Dress for Less, T.J.Maxx | - | ||||||||||||||||||
141 | The Commons of Crystal Lake | Crystal Lake | IL | Chicago-Naperville-Elgin, IL-IN-WI | 1987 | 273,060 | 88.0 | % | 2,533 | 10.54 | Jewel-Osco (Albertsons) | Burlington Stores | Hobby Lobby | ||||||||||||||||||
142 | Elk Grove Town Center | Elk Grove Village | IL | Chicago-Naperville-Elgin, IL-IN-WI | 1998 | 59,409 | 74.4 | % | 947 | 24.87 | - | Walgreens | - | ||||||||||||||||||
143 | Freeport Plaza | Freeport | IL | Freeport, IL | 2000 | 87,846 | 88.3 | % | 539 | 6.95 | Cub Foods (United Natural Foods Inc.) | - | - | ||||||||||||||||||
144 | Westview Center | Hanover Park | IL | Chicago-Naperville-Elgin, IL-IN-WI | 1989 | 321,382 | 76.6 | % | 2,726 | 11.74 | Tony's Finer Foods | Amber's Furniture, LA Fitness, Sears Outlet | Value City | ||||||||||||||||||
145 | The Quentin Collection | Kildeer | IL | Chicago-Naperville-Elgin, IL-IN-WI | 2006 | 171,530 | 82.1 | % | 2,117 | 15.21 | - | Best Buy, PetSmart, Stein Mart | - | ||||||||||||||||||
146 | Butterfield Square | Libertyville | IL | Chicago-Naperville-Elgin, IL-IN-WI | 1997 | 106,683 | 95.5 | % | 1,605 | 15.76 | Sunset Foods | - | - | ||||||||||||||||||
147 | High Point Centre (3) | Lombard | IL | Chicago-Naperville-Elgin, IL-IN-WI | 2019 | 245,497 | 49.6 | % | 1,128 | 10.76 | - | David's Bridal, JOANN, LA Fitness | - | ||||||||||||||||||
148 | Long Meadow Commons | Mundelein | IL | Chicago-Naperville-Elgin, IL-IN-WI | 1997 | 118,281 | 94.9 | % | 1,752 | 16.46 | Jewel-Osco | Planet Fitness | - | ||||||||||||||||||
149 | Westridge Court (2) | Naperville | IL | Chicago-Naperville-Elgin, IL-IN-WI | 1992 | 682,766 | 66.8 | % | 6,072 | 14.32 | - | Art Van Furniture, buybuy BABY, Cost Plus World Market, Marshalls, Old Navy, Party City, Star Cinema Grill, Ulta | - | ||||||||||||||||||
150 | Rollins Crossing | Round Lake Beach | IL | Chicago-Naperville-Elgin, IL-IN-WI | 1998 | 192,913 | 96.3 | % | 1,945 | 17.20 | - | LA Fitness, Regal Cinemas | - | ||||||||||||||||||
151 | Twin Oaks Shopping Center | Silvis | IL | Davenport-Moline-Rock Island, IA-IL | 1991 | 113,328 | 97.6 | % | 754 | 6.82 | Hy-Vee | Eye Surgeons Associates | - | ||||||||||||||||||
152 | Tinley Park Plaza | Tinley Park | IL | Chicago-Naperville-Elgin, IL-IN-WI | 1973 | 248,077 | 67.2 | % | 1,948 | 12.31 | Walt's Fine Foods | Planet Fitness, Tile Shop | - | ||||||||||||||||||
153 | Meridian Village | Carmel | IN | Indianapolis-Carmel-Anderson, IN | 1990 | 130,769 | 93.7 | % | 1,194 | 9.75 | - | Godby Home Furnishings, Ollie's Bargain Outlet | - | ||||||||||||||||||
154 | 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 | ||||||||||||||||||
155 | Apple Glen Crossing | Fort Wayne | IN | Fort Wayne, IN | 2002 | 150,163 | 91.2 | % | 1,895 | 17.67 | Walmart Supercenter* | Best Buy, Dick's Sporting Goods, PetSmart | Kohl's | ||||||||||||||||||
156 | Market Centre | Goshen | IN | Elkhart-Goshen, IN | 1994 | 252,710 | 97.5 | % | 2,095 | 15.29 | Walmart Supercenter* | JOANN, Staples | - | ||||||||||||||||||
157 | Marwood Plaza | Indianapolis | IN | Indianapolis-Carmel-Anderson, IN | 1992 | 107,080 | 81.4 | % | 750 | 8.61 | Kroger | - | - | ||||||||||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 42 | ![]() |
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 | ||||||||||||||||||||
158 | Westlane Shopping Center | Indianapolis | IN | Indianapolis-Carmel-Anderson, IN | 1968 | 71,602 | 100.0 | % | 701 | 9.79 | Save-A-Lot | Citi Trends | - | ||||||||||||||||||
159 | Valley View Plaza | Marion | IN | Marion, IN | 1997 | 29,974 | 90.0 | % | 380 | 14.09 | Walmart Supercenter* | Aaron's | - | ||||||||||||||||||
160 | Lincoln Plaza | New Haven | IN | Fort Wayne, IN | 1968 | 98,288 | 74.0 | % | 568 | 7.81 | Kroger | - | - | ||||||||||||||||||
161 | Speedway Super Center (3) | Speedway | IN | Indianapolis-Carmel-Anderson, IN | 2019 | 596,072 | 86.2 | % | 5,496 | 10.76 | Kroger | Burlington Stores, Kohl's, Oak Street Health Center, Petco, Ross Dress for Less, Sears Outlet, T.J.Maxx | - | ||||||||||||||||||
162 | Sagamore Park Centre | West Lafayette | IN | Lafayette-West Lafayette, IN | 2018 | 132,027 | 100.0 | % | 1,335 | 10.11 | Pay Less (Kroger) | - | - | ||||||||||||||||||
163 | Westchester Square | Lenexa | KS | Kansas City, MO-KS | 1987 | 161,701 | 90.1 | % | 1,466 | 10.07 | Hy-Vee | - | - | ||||||||||||||||||
164 | West Loop Shopping Center | Manhattan | KS | Manhattan, KS | 2013 | 217,261 | 95.8 | % | 1,949 | 14.88 | Dillons (Kroger) | Bellus Academy, JOANN, Marshalls | - | ||||||||||||||||||
165 | North Dixie Plaza | Elizabethtown | KY | Elizabethtown-Fort Knox, KY | 1992 | 130,466 | 100.0 | % | 1,058 | 8.11 | - | At Home, Staples | - | ||||||||||||||||||
166 | Florence Plaza - Florence Square (2) | Florence | KY | Cincinnati, OH-KY-IN | 2014 | 686,526 | 95.0 | % | 7,400 | 14.64 | Kroger | Barnes & Noble, Bob's Furniture, Burlington Stores, David's Bridal, Five Below, Harbor Freight Tools, Hobby Lobby, Home Goods, Old Navy, Ollie's Bargain Outlet, Ross Dress for Less, Staples, T.J.Maxx | - | ||||||||||||||||||
167 | Jeffersontown Commons | Jeffersontown | KY | Louisville/Jefferson County, KY-IN | 1959 | 208,374 | 95.2 | % | 1,826 | 9.69 | - | King Pin Lanes, Louisville Athletic Club | - | ||||||||||||||||||
168 | London Marketplace | London | KY | London, KY | 1994 | 169,032 | 98.1 | % | 1,565 | 9.44 | Kroger | Goody's, Kohl's, Marshalls, Planet Fitness | - | ||||||||||||||||||
169 | Eastgate Shopping Center | Louisville | KY | Louisville/Jefferson County, KY-IN | 2002 | 174,947 | 100.0 | % | 2,007 | 11.47 | Kroger | Petco | - | ||||||||||||||||||
170 | Plainview Village | Louisville | KY | Louisville/Jefferson County, KY-IN | 1997 | 165,467 | 93.7 | % | 1,552 | 10.83 | Kroger | Annie's Attic | - | ||||||||||||||||||
171 | Stony Brook I & II | Louisville | KY | Louisville/Jefferson County, KY-IN | 1988 | 158,940 | 99.2 | % | 1,940 | 12.30 | Kroger Marketplace | - | - | ||||||||||||||||||
172 | Towne Square North | Owensboro | KY | Owensboro, KY | 1988 | 163,161 | 92.4 | % | 1,263 | 8.38 | - | Big Lots, Books-A-Million, Office Depot | - | ||||||||||||||||||
173 | Karam Shopping Center | Lafayette | LA | Lafayette, LA | 1970 | 100,120 | 88.4 | % | 315 | 3.56 | Super 1 Foods | dd's Discounts (Ross) | - | ||||||||||||||||||
174 | The Pines Shopping Center | Pineville | LA | Alexandria, LA | 1991 | 179,039 | 71.4 | % | 836 | 6.95 | Super 1 Foods | Ollie's Bargain Outlet | - | ||||||||||||||||||
175 | Points West Plaza | Brockton | MA | Boston-Cambridge-Newton, MA-NH | 1960 | 130,635 | 97.6 | % | 961 | 7.54 | PriceRite (Wakefern) | Citi Trends, L&M Bargain, Ocean State Job Lot | - | ||||||||||||||||||
176 | Burlington Square I, II & III | Burlington | MA | Boston-Cambridge-Newton, MA-NH | 1992 | 79,559 | 98.4 | % | 2,257 | 28.82 | - | Golf Galaxy, Pyara Aveda Spa & Salon, Staples | Duluth Trading Co. | ||||||||||||||||||
177 | Holyoke Shopping Center | Holyoke | MA | Springfield, MA | 2000 | 195,995 | 96.2 | % | 1,648 | 12.69 | Super Stop & Shop (Ahold Delhaize) | JOANN, Ocean State Job Lot | - | ||||||||||||||||||
178 | WaterTower Plaza | Leominster | MA | Worcester, MA-CT | 2000 | 284,757 | 97.9 | % | 3,246 | 11.86 | - | Barnes & Noble, Michaels, Party City, Petco, Staples, T.J.Maxx | - | ||||||||||||||||||
179 | Lunenberg Crossing | Lunenburg | MA | Worcester, MA-CT | 1994 | 25,515 | 60.8 | % | 237 | 15.28 | Hannaford Bros. (Ahold Delhaize)* | - | Walmart | ||||||||||||||||||
180 | Lynn Marketplace | Lynn | MA | Boston-Cambridge-Newton, MA-NH | 1968 | 78,046 | 100.0 | % | 1,181 | 15.13 | - | Rainbow | - | ||||||||||||||||||
181 | Webster Square Shopping Center | Marshfield | MA | Boston-Cambridge-Newton, MA-NH | 2005 | 182,734 | 95.5 | % | 2,407 | 13.80 | Star Market (Albertsons) | Marshalls, Ocean State Job Lot | - | ||||||||||||||||||
182 | Berkshire Crossing | Pittsfield | MA | Pittsfield, MA | 1994 | 436,854 | 100.0 | % | 4,064 | 21.06 | Market 32 | Barnes & Noble, Michaels, Staples, The Home Depot, Ulta, Walmart | - | ||||||||||||||||||
183 | Westgate Plaza | Westfield | MA | Springfield, MA | 1996 | 103,903 | 96.0 | % | 1,186 | 12.26 | - | Ocean State Job Lot, Staples, T.J.Maxx | - | ||||||||||||||||||
184 | Perkins Farm Marketplace | Worcester | MA | Worcester, MA-CT | 1967 | 207,538 | 83.8 | % | 2,157 | 20.90 | Super Stop & Shop (Ahold Delhaize) | Citi Trends, Ollie's Bargain Outlet | - | ||||||||||||||||||
185 | South Plaza Shopping Center | California | MD | California-Lexington Park, MD | 2005 | 92,335 | 100.0 | % | 1,780 | 19.28 | - | Best Buy, Old Navy, Petco, Ross Dress for Less | - | ||||||||||||||||||
186 | Campus Village Shoppes | College Park | MD | Washington-Arlington-Alexandria, DC-VA-MD-WV | 1986 | 25,529 | 100.0 | % | 787 | 30.83 | - | - | - | ||||||||||||||||||
187 | Fox Run | Prince Frederick | MD | Washington-Arlington-Alexandria, DC-VA-MD-WV | 1997 | 292,849 | 96.6 | % | 2,878 | 10.47 | Giant Food (Ahold Delhaize) | JOANN, Peebles | - | ||||||||||||||||||
188 | Pine Tree Shopping Center | Portland | ME | Portland-South Portland, ME | 1958 | 287,513 | 90.7 | % | 1,923 | 20.80 | - | Big Lots, Dollar Tree, JOANN, Lowe's | - | ||||||||||||||||||
189 | Arborland Center | Ann Arbor | MI | Ann Arbor, MI | 2000 | 403,536 | 96.4 | % | 6,641 | 17.31 | Kroger | Bed Bath & Beyond, DSW, Gardner White Furniture, Marshalls, Michaels, Nordstrom Rack, Ulta | - | ||||||||||||||||||
190 | Maple Village (3) | Ann Arbor | MI | Ann Arbor, MI | 2019 | 292,467 | 94.0 | % | 4,352 | 15.83 | Plum Market | Dunham's Sports, HomeGoods, LA Fitness, Sierra Trading Post, Stein Mart, Ulta | - | ||||||||||||||||||
191 | Grand Crossing | Brighton | MI | Detroit-Warren-Dearborn, MI | 2005 | 85,389 | 100.0 | % | 1,017 | 11.91 | Busch’s Fresh Food Market | Ace Hardware | - | ||||||||||||||||||
192 | Farmington Crossroads | Farmington | MI | Detroit-Warren-Dearborn, MI | 1986 | 79,068 | 100.0 | % | 833 | 10.54 | - | Dollar Tree, Ollie's Bargain Outlet, True Value | - | ||||||||||||||||||
193 | Silver Pointe Shopping Center | Fenton | MI | Flint, MI | 1996 | 164,559 | 81.3 | % | 1,718 | 12.95 | VG's Food (SpartanNash) | Dunham's Sports, Glik's | - | ||||||||||||||||||
194 | Cascade East | Grand Rapids | MI | Grand Rapids-Wyoming, MI | 1983 | 99,529 | 78.4 | % | 595 | 7.62 | D&W Fresh Market (SpartanNash) | - | - | ||||||||||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 43 | ![]() |
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 | ||||||||||||||||||||
195 | Delta Center | Lansing | MI | Lansing-East Lansing, MI | 1985 | 186,246 | 84.6 | % | 1,445 | 9.17 | - | Bed Bath & Beyond, DXL Destination XL, Hobby Lobby, Planet Fitness | - | ||||||||||||||||||
196 | Lakes Crossing | Muskegon | MI | Muskegon, MI | 2008 | 109,590 | 96.3 | % | 1,570 | 16.97 | - | JOANN, Party City, Shoe Carnival, Ulta | Kohl's | ||||||||||||||||||
197 | Redford Plaza | Redford | MI | Detroit-Warren-Dearborn, MI | 1992 | 280,883 | 87.3 | % | 2,582 | 10.53 | Prince Valley Market | Blink Fitness, Burlington Stores, Citi Trends, Dollar Tree | - | ||||||||||||||||||
198 | Hampton Village Centre | Rochester Hills | MI | Detroit-Warren-Dearborn, MI | 2004 | 464,931 | 99.2 | % | 6,684 | 18.87 | - | Best Buy, DSW, Emagine Theatre, Kohl's, Old Navy, Petco, T.J.Maxx, Ulta | Target | ||||||||||||||||||
199 | Fashion Corners | Saginaw | MI | Saginaw, MI | 2004 | 184,735 | 99.3 | % | 1,886 | 10.28 | - | Bed Bath & Beyond, Best Buy, Dunham's Sports, Guitar Center, Harbor Freight Tools | - | ||||||||||||||||||
200 | Southfield Plaza | Southfield | MI | Detroit-Warren-Dearborn, MI | 1970 | 101,724 | 93.8 | % | 1,111 | 11.64 | - | Party City, Planet Fitness | Burlington Stores | ||||||||||||||||||
201 | 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 | - | ||||||||||||||||||
202 | 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 Adventure Park | - | ||||||||||||||||||
203 | 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 | ||||||||||||||||||
204 | 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 | - | ||||||||||||||||||
205 | Southport Centre I - VI | Apple Valley | MN | Minneapolis-St. Paul-Bloomington, MN-WI | 1985 | 124,937 | 97.7 | % | 2,176 | 17.82 | SuperTarget* | Best Buy, Dollar Tree, Walgreens | - | ||||||||||||||||||
206 | Burning Tree Plaza | Duluth | MN | Duluth, MN-WI | 1987 | 183,006 | 86.3 | % | 2,074 | 13.13 | - | Best Buy, David's Bridal, JOANN, T.J.Maxx | - | ||||||||||||||||||
207 | Elk Park Center | Elk River | MN | Minneapolis-St. Paul-Bloomington, MN-WI | 1999 | 205,009 | 86.9 | % | 1,983 | 11.13 | Cub Foods (Jerry's Foods) | OfficeMax | - | ||||||||||||||||||
208 | Westwind Plaza | Minnetonka | MN | Minneapolis-St. Paul-Bloomington, MN-WI | 2007 | 88,049 | 100.0 | % | 1,592 | 18.08 | Cub Foods (United Natural Foods Inc.)* | - | - | ||||||||||||||||||
209 | Richfield Hub | Richfield | MN | Minneapolis-St. Paul-Bloomington, MN-WI | 1952 | 213,595 | 87.9 | % | 2,149 | 11.45 | - | Marshalls, Michaels | - | ||||||||||||||||||
210 | Roseville Center (3) | Roseville | MN | Minneapolis-St. Paul-Bloomington, MN-WI | 2019 | 71,379 | 84.7 | % | 783 | 17.56 | ALDI, Cub Foods (Jerry's Foods)* | Dollar Tree | - | ||||||||||||||||||
211 | Marketplace @ 42 | Savage | MN | Minneapolis-St. Paul-Bloomington, MN-WI | 1999 | 114,518 | 98.2 | % | 1,829 | 16.26 | Fresh Thyme Farmers Market | Marshalls | - | ||||||||||||||||||
212 | Sun Ray Shopping Center | St. Paul | MN | Minneapolis-St. Paul-Bloomington, MN-WI | 1958 | 291,048 | 91.7 | % | 2,498 | 12.42 | Cub Foods (United Natural Foods Inc.) | Planet Fitness, T.J.Maxx, Valu Thrift Store | - | ||||||||||||||||||
213 | White Bear Hills Shopping Center | White Bear Lake | MN | Minneapolis-St. Paul-Bloomington, MN-WI | 1996 | 73,095 | 94.2 | % | 814 | 11.83 | Festival Foods | Dollar Tree | - | ||||||||||||||||||
214 | Ellisville Square | Ellisville | MO | St. Louis, MO-IL | 1989 | 137,446 | 98.0 | % | 1,729 | 13.15 | ALDI | Michaels, Party City, Petco, Tuesday Morning | - | ||||||||||||||||||
215 | Hub Shopping Center | Independence | MO | Kansas City, MO-KS | 1995 | 160,423 | 87.8 | % | 776 | 5.91 | Price Chopper | - | - | ||||||||||||||||||
216 | Watts Mill Plaza | Kansas City | MO | Kansas City, MO-KS | 1997 | 161,717 | 99.2 | % | 1,394 | 8.69 | Price Chopper | Ace Hardware | - | ||||||||||||||||||
217 | Liberty Corners | Liberty | MO | Kansas City, MO-KS | 1987 | 124,808 | 93.1 | % | 1,020 | 8.78 | Price Chopper | - | - | ||||||||||||||||||
218 | Maplewood Square | Maplewood | MO | St. Louis, MO-IL | 1998 | 71,590 | 93.6 | % | 431 | 6.43 | Shcnuck's | - | - | ||||||||||||||||||
219 | Devonshire Place | Cary | NC | Raleigh, NC | 1996 | 106,680 | 100.0 | % | 1,572 | 15.05 | - | Burlington Stores, Dollar Tree, Harbor Freight Tools, REI | - | ||||||||||||||||||
220 | McMullen Creek Market | Charlotte | NC | Charlotte-Concord-Gastonia, NC-SC | 1988 | 282,965 | 87.4 | % | 3,655 | 14.78 | Walmart Neighborhood Market | Burlington Stores, Dollar Tree, Staples | - | ||||||||||||||||||
221 | 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 | - | ||||||||||||||||||
222 | Macon Plaza | Franklin | NC | — | 2001 | 92,787 | 100.0 | % | 540 | 10.67 | BI-LO (Southeastern Grocers) | Peebles | - | ||||||||||||||||||
223 | Garner Towne Square | Garner | NC | Raleigh, NC | 1997 | 184,347 | 97.2 | % | 2,048 | 12.97 | - | Burn Boot Camp, Citi Trends, OfficeMax, PetSmart | Target, The Home Depot | ||||||||||||||||||
224 | Franklin Square | Gastonia | NC | Charlotte-Concord-Gastonia, NC-SC | 1989 | 317,705 | 85.2 | % | 3,277 | 13.64 | Walmart Supercenter | Best Buy, Burke's Outlet, Dollar Tree, Five Below, Michaels, Ross Dress for Less | - | ||||||||||||||||||
225 | Wendover Place | Greensboro | NC | Greensboro-High Point, NC | 2000 | 406,768 | 89.1 | % | 5,179 | 14.30 | - | Christmas Tree Shops, Dick's Sporting Goods, Kohl's, Michaels, Old Navy, PetSmart, Rainbow, Ross Dress for Less | Target | ||||||||||||||||||
226 | 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 | ||||||||||||||||||
227 | 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 | - | ||||||||||||||||||
228 | Kinston Pointe | Kinston | NC | Kinston, NC | 2001 | 250,580 | 100.0 | % | 1,079 | 4.31 | Walmart Supercenter | Dollar Tree | - | ||||||||||||||||||
229 | Magnolia Plaza | Morganton | NC | Hickory-Lenoir-Morganton, NC | 1990 | 93,553 | 82.4 | % | 585 | 7.59 | - | Big Lots, Harbor Freight Tools | Rural King | ||||||||||||||||||
230 | Roxboro Square | Roxboro | NC | Durham-Chapel Hill, NC | 2005 | 97,226 | 93.8 | % | 1,396 | 15.30 | - | Person County Health & Human Services | - | ||||||||||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 44 | ![]() |
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 | ||||||||||||||||||||
231 | Innes Street Market | Salisbury | NC | Charlotte-Concord-Gastonia, NC-SC | 2002 | 349,425 | 100.0 | % | 4,096 | 11.72 | Food Lion (Ahold Delhaize) | Lowe's, Marshalls, Old Navy, PetSmart, Staples, Tinseltown | - | ||||||||||||||||||
232 | Crossroads | Statesville | NC | Charlotte-Concord-Gastonia, NC-SC | 1997 | 340,189 | 99.1 | % | 2,225 | 6.60 | Walmart Supercenter | Big Lots, Burkes Outlet, Tractor Supply | - | ||||||||||||||||||
233 | Anson Station | Wadesboro | NC | — | 1988 | 132,353 | 67.8 | % | 641 | 7.14 | - | Peebles, Tractor Supply Co. | - | ||||||||||||||||||
234 | New Centre Market | Wilmington | NC | Wilmington, NC | 1998 | 143,762 | 94.0 | % | 1,789 | 13.62 | - | OfficeMax, PetSmart, Sportsmans Warehouse | Target | ||||||||||||||||||
235 | University Commons | Wilmington | NC | Wilmington, NC | 2007 | 235,345 | 99.4 | % | 3,573 | 15.27 | Lowes Foods | A.C. Moore, HomeGoods, T.J.Maxx | - | ||||||||||||||||||
236 | Whitaker Square | Winston Salem | NC | Winston-Salem, NC | 1996 | 82,760 | 96.6 | % | 1,183 | 14.79 | Harris Teeter (Kroger) | - | - | ||||||||||||||||||
237 | Parkway Plaza | Winston-Salem | NC | Winston-Salem, NC | 2005 | 282,693 | 81.3 | % | 2,807 | 13.31 | Super Compare Foods | Citi Trends, Modern Home, Office Depot | - | ||||||||||||||||||
238 | Stratford Commons | Winston-Salem | NC | Winston-Salem, NC | 1995 | 72,308 | 94.8 | % | 985 | 14.37 | - | Golf Galaxy, Mattress Firm, OfficeMax | - | ||||||||||||||||||
239 | Bedford Grove | Bedford | NH | Manchester-Nashua, NH | 1989 | 216,699 | 94.7 | % | 2,049 | 23.79 | - | Bed Bath & Beyond, Boston Interiors, Walmart | - | ||||||||||||||||||
240 | Capitol Shopping Center | Concord | NH | Concord, NH | 2001 | 182,887 | 100.0 | % | 2,078 | 11.63 | Market Basket (DeMoulas Supermarkets) | Burlington Stores, JOANN, Marshalls | - | ||||||||||||||||||
241 | 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 | ||||||||||||||||||
242 | Seacoast Shopping Center | Seabrook | NH | Boston-Cambridge-Newton, MA-NH | 1991 | 91,690 | 74.7 | % | 399 | 6.09 | - | JOANN, NH1 MotorPlex | Cardi's Furniture, Ocean State Job Lot | ||||||||||||||||||
243 | Tri-City Plaza | Somersworth | NH | Boston-Cambridge-Newton, MA-NH | 1990 | 150,004 | 98.0 | % | 1,441 | 9.80 | Market Basket (DeMoulas Supermarkets) | T.J.Maxx | - | ||||||||||||||||||
244 | Laurel Square | Brick | NJ | New York-Newark-Jersey City, NY-NJ-PA | 2003 | 246,235 | 62.2 | % | 1,066 | 7.59 | - | At Home, Planet Fitness | - | ||||||||||||||||||
245 | The Shoppes at Cinnaminson | Cinnaminson | NJ | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 2010 | 301,311 | 95.2 | % | 4,518 | 23.60 | ShopRite | Burlington Stores, Planet Fitness, Ross Dress For Less | - | ||||||||||||||||||
246 | Acme Clark | Clark | NJ | New York-Newark-Jersey City, NY-NJ-PA | 2007 | 52,812 | 100.0 | % | 1,422 | 26.93 | Acme (Albertsons) | - | - | ||||||||||||||||||
247 | Collegetown Shopping Center | Glassboro | NJ | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 1966 | 245,727 | 65.2 | % | 2,183 | 13.63 | LIDL | LA Fitness, Staples | - | ||||||||||||||||||
248 | Hamilton Plaza (3) | Hamilton | NJ | Trenton, NJ | 2019 | 150,919 | 100.0 | % | 1,370 | 9.08 | - | Dollar Tree, Hibachi Grill & Supreme Buffet, Planet Fitness, Urban Air Adventure Park | - | ||||||||||||||||||
249 | Bennetts Mills Plaza | Jackson | NJ | New York-Newark-Jersey City, NY-NJ-PA | 2002 | 127,230 | 89.4 | % | 1,506 | 13.25 | Super Stop & Shop (Ahold Delhaize) | - | - | ||||||||||||||||||
250 | Marlton Crossing (3) | Marlton | NJ | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 2019 | 331,875 | 98.0 | % | 6,236 | 19.17 | Sprouts Farmers Market | Burlington Stores, DSW, HomeGoods, Michaels, T.J. Maxx | - | ||||||||||||||||||
251 | Middletown Plaza | Middletown | NJ | New York-Newark-Jersey City, NY-NJ-PA | 2001 | 197,066 | 91.0 | % | 3,660 | 20.71 | ShopRite | Petco, Rite Aid | - | ||||||||||||||||||
252 | Larchmont Centre | Mount Laurel | NJ | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 1985 | 103,787 | 86.1 | % | 1,105 | 32.29 | ShopRite | - | - | ||||||||||||||||||
253 | Old Bridge Gateway | Old Bridge | NJ | New York-Newark-Jersey City, NY-NJ-PA | 1995 | 246,120 | 100.0 | % | 3,856 | 15.67 | Bhavani Food Market | Marshalls, Modell's Sporting Goods, Pep Boys, Petco, Robert Wood Johnson Fitness | - | ||||||||||||||||||
254 | Morris Hills Shopping Center | Parsippany | NJ | New York-Newark-Jersey City, NY-NJ-PA | 1994 | 159,561 | 100.0 | % | 3,116 | 19.53 | - | Blink Fitness (Equinox), Cinepolis, HomeGoods, Marshalls | - | ||||||||||||||||||
255 | Rio Grande Plaza | Rio Grande | NJ | Ocean City, NJ | 1997 | 140,200 | 94.1 | % | 1,501 | 11.37 | ShopRite* | Peebles, PetSmart, Planet Fitness | - | ||||||||||||||||||
256 | Ocean Heights Plaza | Somers Point | NJ | Atlantic City-Hammonton, NJ | 2006 | 179,199 | 99.1 | % | 3,357 | 18.90 | ShopRite | Pier 1 Imports, Staples | - | ||||||||||||||||||
257 | Springfield Place | Springfield | NJ | New York-Newark-Jersey City, NY-NJ-PA | 1965 | 36,209 | 100.0 | % | 654 | 18.06 | ShopRite | - | - | ||||||||||||||||||
258 | Tinton Falls Plaza | Tinton Falls | NJ | New York-Newark-Jersey City, NY-NJ-PA | 2006 | 98,410 | 83.1 | % | 1,374 | 16.80 | - | Dollar Tree, Jersey Strong | - | ||||||||||||||||||
259 | Cross Keys Commons | Turnersville | NJ | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 1989 | 216,323 | 89.0 | % | 3,088 | 16.05 | Walmart Supercenter* | Marshalls, Rainbow, Ross Dress for Less, Staples, ULTA | - | ||||||||||||||||||
260 | Parkway Plaza | Carle Place | NY | New York-Newark-Jersey City, NY-NJ-PA | 1993 | 89,704 | 100.0 | % | 2,744 | 30.59 | - | Minado, Stew Leonard's Wines, T.J.Maxx | - | ||||||||||||||||||
261 | Erie Canal Centre | Dewitt | NY | Syracuse, NY | 2018 | 125,445 | 100.0 | % | 1,853 | 14.77 | - | Burlington Stores, Dick's Sporting Goods, Michaels | - | ||||||||||||||||||
262 | 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 | - | ||||||||||||||||||
263 | Suffolk Plaza | East Setauket | NY | New York-Newark-Jersey City, NY-NJ-PA | 1998 | 84,480 | 71.9 | % | 1,546 | 26.92 | BJ's Wholesale* | 24 Hour Fitness | Kohl's, Walmart | ||||||||||||||||||
264 | Three Village Shopping Center | East Setauket | NY | New York-Newark-Jersey City, NY-NJ-PA | 1991 | 77,458 | 93.2 | % | 1,915 | 26.52 | Wild by Nature Market*, Stop & Shop* | Ace Hardware | Rite Aid | ||||||||||||||||||
265 | Stewart Plaza | Garden City | NY | New York-Newark-Jersey City, NY-NJ-PA | 1990 | 193,622 | 97.5 | % | 3,031 | 16.05 | - | Burlington Stores, Dollar Tree, K&G Fashion Superstore | - | ||||||||||||||||||
266 | Dalewood I, II & III Shopping Center | Hartsdale | NY | New York-Newark-Jersey City, NY-NJ-PA | 1972 | 194,441 | 100.0 | % | 6,901 | 36.83 | H-Mart | Christmas Tree Shops, Rite Aid, T.J.Maxx | - | ||||||||||||||||||
267 | Cayuga Mall | Ithaca | NY | Ithaca, NY | 1969 | 204,415 | 95.1 | % | 1,993 | 10.25 | - | Big Lots, JOANN, Party City, Planet Fitness, Rite Aid, True Value | - | ||||||||||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 45 | ![]() |
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 | ||||||||||||||||||||
268 | Kings Park Plaza | Kings Park | NY | New York-Newark-Jersey City, NY-NJ-PA | 1985 | 72,208 | 100.0 | % | 1,553 | 21.51 | Key Food Marketplace | T.J.Maxx | - | ||||||||||||||||||
269 | 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 | - | - | ||||||||||||||||||
270 | Falcaro's Plaza | Lawrence | NY | New York-Newark-Jersey City, NY-NJ-PA | 1972 | 61,904 | 100.0 | % | 1,419 | 22.92 | KolSave Market* | Advance Auto Parts, Dollar Tree, Planet Fitness | - | ||||||||||||||||||
271 | Mamaroneck Centre (3) | Mamaroneck | NY | New York-Newark-Jersey City, NY-NJ-PA | 2019 | 29,927 | 100.0 | % | 1,095 | 36.59 | North Shore Farms | CVS | - | ||||||||||||||||||
272 | Sunshine Square | Medford | NY | New York-Newark-Jersey City, NY-NJ-PA | 2007 | 223,322 | 94.1 | % | 2,979 | 14.17 | Super Stop & Shop (Ahold Delhaize) | Planet Fitness, Savers | - | ||||||||||||||||||
273 | Wallkill Plaza | Middletown | NY | New York-Newark-Jersey City, NY-NJ-PA | 1986 | 209,910 | 95.9 | % | 2,127 | 10.90 | - | Ashley Furniture, Big Lots, Citi Trends, David's Bridal, Hobby Lobby | - | ||||||||||||||||||
274 | Monroe Plaza | Monroe | NY | New York-Newark-Jersey City, NY-NJ-PA | 1985 | 122,007 | 100.0 | % | 1,968 | 16.13 | ShopRite | Retro Fitness, Rite Aid, U.S. Post Office | - | ||||||||||||||||||
275 | Rockland Plaza | Nanuet | NY | New York-Newark-Jersey City, NY-NJ-PA | 2006 | 252,542 | 91.8 | % | 6,111 | 26.36 | A Matter of Health | Barnes & Noble, Charlotte Russe, Marshalls, Modell's Sporting Goods, Petco | - | ||||||||||||||||||
276 | North Ridge Shopping Center | New Rochelle | NY | New York-Newark-Jersey City, NY-NJ-PA | 1971 | 38,347 | 92.0 | % | 1,350 | 38.27 | - | Harmon Discount | - | ||||||||||||||||||
277 | 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 | - | ||||||||||||||||||
278 | Roanoke Plaza | Riverhead | NY | New York-Newark-Jersey City, NY-NJ-PA | 2002 | 99,131 | 100.0 | % | 1,888 | 19.05 | Best Market (LIDL) | CVS, T.J.Maxx | - | ||||||||||||||||||
279 | 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 | - | ||||||||||||||||||
280 | Rockville Centre | Rockville Centre | NY | New York-Newark-Jersey City, NY-NJ-PA | 1975 | 44,131 | 94.3 | % | 1,117 | 26.83 | - | HomeGoods, Rite Aid | - | ||||||||||||||||||
281 | Mohawk Acres Plaza | Rome | NY | Utica-Rome, NY | 2005 | 156,680 | 79.8 | % | 1,235 | 22.42 | Price Chopper | Family Dollar | - | ||||||||||||||||||
282 | College Plaza | Selden | NY | New York-Newark-Jersey City, NY-NJ-PA | 2013 | 180,182 | 100.0 | % | 3,262 | 18.57 | ShopRite | A.C. Moore, Blink Fitness (Equinox), Bob's Stores | Firestone | ||||||||||||||||||
283 | Campus Plaza | Vestal | NY | Binghamton, NY | 2003 | 160,744 | 98.4 | % | 1,829 | 11.56 | - | Olum's Furniture & Appliances, Rite Aid, Staples | - | ||||||||||||||||||
284 | Parkway Plaza | Vestal | NY | Binghamton, NY | 1995 | 207,154 | 100.0 | % | 2,263 | 10.92 | PriceRite (Wakefern) | Bed Bath & Beyond, Kohl's, PetSmart | Target | ||||||||||||||||||
285 | Shoppes at Vestal | Vestal | NY | Binghamton, NY | 2000 | 92,328 | 100.0 | % | 1,494 | 16.18 | - | HomeGoods, Michaels, Old Navy | - | ||||||||||||||||||
286 | Town Square Mall | Vestal | NY | Binghamton, NY | 1991 | 291,346 | 97.9 | % | 4,894 | 17.15 | Sam's Club*, Walmart Supercenter* | A.C. Moore, AMC Cinemas, Barnes & Noble, Dick's Sporting Goods, Dollar Tree, DSW, T.J.Maxx, Ulta | - | ||||||||||||||||||
287 | The Plaza at Salmon Run | Watertown | NY | Watertown-Fort Drum, NY | 1993 | 68,761 | 94.1 | % | 707 | 10.92 | Hannaford Bros. (Ahold Delhaize) | Red Robin Gourmet Burger | Lowe's | ||||||||||||||||||
288 | Highridge Plaza | Yonkers | NY | New York-Newark-Jersey City, NY-NJ-PA | 1977 | 88,501 | 94.5 | % | 2,480 | 29.66 | H-Mart | - | - | ||||||||||||||||||
289 | Brunswick Town Center | Brunswick | OH | Cleveland-Elyria, OH | 2004 | 143,282 | 98.8 | % | 2,038 | 14.92 | Giant Eagle | - | The Home Depot | ||||||||||||||||||
290 | 30th Street Plaza | Canton | OH | Canton-Massillon, OH | 1999 | 145,935 | 92.8 | % | 1,467 | 10.83 | Giant Eagle, Marc's | - | - | ||||||||||||||||||
291 | Brentwood Plaza | Cincinnati | OH | Cincinnati, OH-KY-IN | 2004 | 222,174 | 92.3 | % | 2,341 | 17.51 | Kroger | Petco, Planet Fitness, Rainbow | - | ||||||||||||||||||
292 | Delhi Shopping Center | Cincinnati | OH | Cincinnati, OH-KY-IN | 1973 | 164,750 | 97.4 | % | 1,460 | 9.10 | Kroger | Pet Supplies Plus | - | ||||||||||||||||||
293 | Harpers Station | Cincinnati | OH | Cincinnati, OH-KY-IN | 1994 | 252,233 | 96.7 | % | 3,499 | 14.34 | Fresh Thyme Farmers Market | HomeGoods, LA Fitness, Pet Supplies Plus, Stein Mart, T.J.Maxx | - | ||||||||||||||||||
294 | Western Hills Plaza | Cincinnati | OH | Cincinnati, OH-KY-IN | 1954 | 315,697 | 62.7 | % | 3,452 | 18.63 | - | Bed Bath & Beyond, Michaels, Staples, T.J.Maxx | Target | ||||||||||||||||||
295 | Western Village | Cincinnati | OH | Cincinnati, OH-KY-IN | 2005 | 115,116 | 97.7 | % | 1,104 | 30.82 | Kroger | - | - | ||||||||||||||||||
296 | Crown Point | Columbus | OH | Columbus, OH | 1980 | 144,931 | 89.9 | % | 1,283 | 9.85 | Kroger | Dollar Tree, Planet Fitness | - | ||||||||||||||||||
297 | Greentree Shopping Center | Columbus | OH | Columbus, OH | 2005 | 131,573 | 84.9 | % | 1,184 | 11.42 | Kroger | - | - | ||||||||||||||||||
298 | Brandt Pike Place | Dayton | OH | Dayton, OH | 2008 | 17,900 | 88.8 | % | 164 | 10.31 | Kroger* | - | - | ||||||||||||||||||
299 | South Towne Centre | Dayton | OH | Dayton, OH | 1972 | 333,998 | 98.7 | % | 4,457 | 14.12 | Health Foods Unlimited | Burlington Stores, Christmas Tree Shops, JOANN, Party City, Petsmart, Value City Furniture | - | ||||||||||||||||||
300 | Southland Shopping Center | Middleburg Heights | OH | Cleveland-Elyria, OH | 1951 | 695,261 | 79.5 | % | 6,308 | 11.42 | BJ's Wholesale Club, Giant Eagle, Marc's | Cleveland Furniture Bank, JOANN, Marshalls, Party City | - | ||||||||||||||||||
301 | 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 | - | ||||||||||||||||||
302 | Surrey Square | Norwood | OH | Cincinnati, OH-KY-IN | 2010 | 175,167 | 96.7 | % | 2,205 | 25.92 | Kroger | Marshalls | - | ||||||||||||||||||
303 | Brice Park | Reynoldsburg | OH | Columbus, OH | 1989 | 158,565 | 88.1 | % | 1,202 | 9.37 | - | Ashley Furniture, Citi Trends, Dollar Tree, Michaels | - | ||||||||||||||||||
304 | Streetsboro Crossing | Streetsboro | OH | Akron, OH | 2002 | 89,436 | 93.9 | % | 611 | 7.28 | Giant Eagle | - | Lowe's, Target | ||||||||||||||||||
305 | Miracle Mile Shopping Plaza | Toledo | OH | Toledo, OH | 1955 | 315,515 | 69.2 | % | 1,605 | 14.29 | Kroger | Big Lots, Harbor Freight Tools | - | ||||||||||||||||||
306 | Marketplace | Tulsa | OK | Tulsa, OK | 1992 | 186,851 | 100.0 | % | 1,924 | 10.30 | - | Basset Home Furnishings, Conn's, David's Bridal, Boot Barn, PetSmart | Best Buy | ||||||||||||||||||
307 | Village West | Allentown | PA | Allentown-Bethlehem-Easton, PA-NJ | 1999 | 140,474 | 93.1 | % | 2,510 | 19.19 | Giant Food (Ahold Delhaize) | CVS, Dollar Tree | - | ||||||||||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 46 | ![]() |
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 | ||||||||||||||||||||
308 | Park Hills Plaza | Altoona | PA | Altoona, PA | 1985 | 262,800 | 83.3 | % | 2,137 | 9.87 | Weis Markets | A.C. Moore, Dunham's Sports, Harbor Freight, Shoe Carnival, Urban Air Adventure Park | - | ||||||||||||||||||
309 | Bensalem Square | Bensalem | PA | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 1986 | 70,378 | 100.0 | % | 782 | 11.11 | Redner's Warehouse Market | - | Premiere Storage | ||||||||||||||||||
310 | Bethel Park Shopping Center | Bethel Park | PA | Pittsburgh, PA | 1965 | 199,079 | 100.0 | % | 1,966 | 10.95 | Giant Eagle | Walmart | - | ||||||||||||||||||
311 | Lehigh Shopping Center | Bethlehem | PA | Allentown-Bethlehem-Easton, PA-NJ | 1955 | 373,766 | 91.2 | % | 3,690 | 13.86 | Giant Food (Ahold Delhaize) | Aetna, Big Lots, Citi Trends, Dollar Tree, Mega Marshalls, PetSmart, Rite Aid, Staples, Wines & Spirits | - | ||||||||||||||||||
312 | Bristol Park | Bristol | PA | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 1993 | 282,654 | 36.3 | % | 1,435 | 14.00 | - | Ollie's Bargain Outlet | - | ||||||||||||||||||
313 | Chalfont Village Shopping Center | Chalfont | PA | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 1989 | 46,051 | 73.6 | % | 423 | 12.48 | - | - | - | ||||||||||||||||||
314 | New Britain Village Square | Chalfont | PA | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 1989 | 143,716 | 86.4 | % | 2,409 | 19.41 | Giant Food (Ahold Delhaize) | Wine & Spirits Shoppe | - | ||||||||||||||||||
315 | Collegeville Shopping Center (3) | Collegeville | PA | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 2019 | 110,696 | 72.9 | % | 1,266 | 15.70 | Kimberton Whole Foods | Pep Boys, Rascal Fitness | - | ||||||||||||||||||
316 | Whitemarsh Shopping Center | Conshohocken | PA | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 2002 | 74,432 | 100.0 | % | 1,958 | 26.31 | Giant Food (Ahold Delhaize) | Wine & Spirits Shoppe | - | ||||||||||||||||||
317 | Valley Fair | Devon | PA | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 2001 | 105,086 | 98.2 | % | 1,064 | 10.31 | - | Chuck E. Cheese's, Mealey's Furniture | - | ||||||||||||||||||
318 | 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 | - | ||||||||||||||||||
319 | Barn Plaza | Doylestown | PA | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 2002 | 237,681 | 99.3 | % | 3,542 | 15.01 | - | Kohl's, Marshalls, Regal Cinemas | - | ||||||||||||||||||
320 | Pilgrim Gardens | Drexel Hill | PA | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 1955 | 75,223 | 100.0 | % | 1,309 | 17.40 | - | Dollar Tree, Ross Dress for Less, Tuesday Morning, US Post Office | - | ||||||||||||||||||
321 | New Garden Center | Kennett Square | PA | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 1979 | 144,920 | 97.0 | % | 987 | 7.18 | - | Big Lots, Ollie's Bargain Outlet | - | ||||||||||||||||||
322 | Stone Mill Plaza | Lancaster | PA | Lancaster, PA | 2008 | 106,736 | 100.0 | % | 1,348 | 12.63 | Giant Food (Ahold Delhaize) | - | - | ||||||||||||||||||
323 | North Penn Market Place | Lansdale | PA | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 1977 | 58,358 | 92.9 | % | 993 | 19.61 | Weis Markets* | - | - | ||||||||||||||||||
324 | Village at Newtown (3) | Newtown | PA | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 2019 | 186,719 | 92.3 | % | 5,094 | 29.90 | McCaffrey's | Pier 1 Imports | - | ||||||||||||||||||
325 | Ivyridge | Philadelphia | PA | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 1963 | 106,353 | 100.0 | % | 2,679 | 25.19 | - | Dollar Tree, Target, Wine & Spirits | - | ||||||||||||||||||
326 | Roosevelt Mall (3) | Philadelphia | PA | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 2019 | 581,693 | 97.9 | % | 8,883 | 34.67 | - | LA Fitness, Macy's, Modell's Sporting Goods, Rainbow, Ross Dress For Less | - | ||||||||||||||||||
327 | Shoppes at Valley Forge | Phoenixville | PA | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 2003 | 176,676 | 94.9 | % | 1,317 | 7.85 | Redner's Warehouse Market | French Creek Outfitters, Staples | - | ||||||||||||||||||
328 | County Line Plaza | Souderton | PA | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 1971 | 154,758 | 97.1 | % | 1,553 | 10.74 | ALDI | Dollar Tree, Planet Fitness, Rite Aid, VF Outlet | - | ||||||||||||||||||
329 | 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 | - | ||||||||||||||||||
330 | Warminster Town Center | Warminster | PA | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 1997 | 237,152 | 100.0 | % | 3,684 | 16.85 | ShopRite | A.C. Moore, Modell's Sporting Goods, Old Navy, Party City, PetSmart, Ross Dress for Less | Kohl's | ||||||||||||||||||
331 | Shops at Prospect | West Hempfield | PA | Lancaster, PA | 1994 | 63,392 | 97.6 | % | 777 | 12.55 | Musser's Markets | Dollar Tree | Kmart | ||||||||||||||||||
332 | 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 | - | ||||||||||||||||||
333 | Wilkes-Barre Township Marketplace | Wilkes-Barre | PA | Scranton--Wilkes-Barre--Hazleton, PA | 2004 | 307,610 | 97.9 | % | 2,347 | 33.31 | Walmart Supercenter | Chuck E Cheese, Cracker Barrel, Party City, Shoe Carnival | - | ||||||||||||||||||
334 | Belfair Towne Village | Bluffton | SC | Hilton Head Island-Bluffton-Beaufort, SC | 2006 | 165,039 | 92.2 | % | 2,297 | 15.09 | Kroger | Stein Mart | - | ||||||||||||||||||
335 | Milestone Plaza | Greenville | SC | Greenville-Anderson-Mauldin, SC | 1995 | 89,721 | 97.4 | % | 1,578 | 19.18 | BI-LO (Southeastern Grocers) | - | - | ||||||||||||||||||
336 | Circle Center | Hilton Head | SC | Hilton Head Island-Bluffton-Beaufort, SC | 2000 | 65,313 | 96.9 | % | 879 | 13.88 | BI-LO (Southeastern Grocers) | - | - | ||||||||||||||||||
337 | Island Plaza | James Island | SC | Charleston-North Charleston, SC | 1994 | 171,224 | 97.2 | % | 1,538 | 9.24 | Food Lion (Ahold Delhaize) | Dollar Tree, Gold's Gym, Tuesday Morning | - | ||||||||||||||||||
338 | Festival Centre | North Charleston | SC | Charleston-North Charleston, SC | 1987 | 325,347 | 88.4 | % | 2,648 | 9.32 | - | Gold's Gym, New Spring Church, Sears Outlet | - | ||||||||||||||||||
339 | Fairview Corners I & II | Simpsonville | SC | Greenville-Anderson-Mauldin, SC | 2003 | 131,002 | 95.0 | % | 1,929 | 15.50 | - | Ross Dress for Less, T.J.Maxx | Target | ||||||||||||||||||
340 | Hillcrest Market Place | Spartanburg | SC | Spartanburg, SC | 1965 | 358,040 | 93.1 | % | 4,017 | 12.65 | Publix | Marshalls, NCG Cinemas, Office Depot, Petco, Ross Dress for Less, Stein Mart | - | ||||||||||||||||||
341 | East Ridge Crossing | Chattanooga | TN | Chattanooga, TN-GA | 1999 | 58,950 | 86.1 | % | 558 | 11.00 | Food Lion (Ahold Delhaize) | - | - | ||||||||||||||||||
342 | Watson Glen Shopping Center | Franklin | TN | Nashville-Davidson--Murfreesboro--Franklin, TN | 1988 | 265,027 | 98.5 | % | 2,830 | 10.94 | ALDI | At Home, Big Lots, Franklin Athletic Club, Trees n Trends | - | ||||||||||||||||||
343 | Williamson Square | Franklin | TN | Nashville-Davidson--Murfreesboro--Franklin, TN | 1988 | 331,386 | 91.3 | % | 3,517 | 11.63 | - | Family Leisure, Goldfish Swim School, Grace Church Nashville, Hobby Lobby, Planet Fitness | - | ||||||||||||||||||
344 | Greeneville Commons | Greeneville | TN | Greeneville, TN | 2002 | 223,564 | 93.1 | % | 1,760 | 8.56 | - | Belk, Burkes Outlet, Five Below, Hobby Lobby, Marshalls, Ross Dress for Less | - | ||||||||||||||||||
345 | Kingston Overlook | Knoxville | TN | Knoxville, TN | 1996 | 122,536 | 100.0 | % | 1,141 | 9.56 | - | Badcock Home Furniture, Sears Outlet, Urban Air Adventure Park | - | ||||||||||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 47 | ![]() |
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 | ||||||||||||||||||||
346 | The Commons at Wolfcreek (2) | Memphis | TN | Memphis, TN-MS-AR | 2014 | 652,349 | 94.8 | % | 9,418 | 15.63 | - | 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 | ||||||||||||||||||
347 | Georgetown Square | Murfreesboro | TN | Nashville-Davidson--Murfreesboro--Franklin, TN | 2003 | 114,117 | 89.5 | % | 1,257 | 12.31 | Kroger | Aaron's | - | ||||||||||||||||||
348 | Nashboro Village | Nashville | TN | Nashville-Davidson--Murfreesboro--Franklin, TN | 1998 | 86,811 | 98.2 | % | 1,082 | 12.70 | Kroger | - | Walgreens | ||||||||||||||||||
349 | Commerce Central | Tullahoma | TN | Tullahoma-Manchester, TN | 1995 | 182,401 | 98.9 | % | 1,341 | 7.43 | Walmart Supercenter | Dollar Tree | - | ||||||||||||||||||
350 | Merchant's Central | Winchester | TN | Tullahoma-Manchester, TN | 1997 | 208,123 | 95.8 | % | 1,231 | 6.18 | Walmart Supercenter | Goody's | - | ||||||||||||||||||
351 | Palm Plaza | Aransas | TX | Corpus Christi, TX | 2002 | 50,475 | 92.3 | % | 373 | 8.00 | - | Bealls (Stage Stores), Family Dollar | - | ||||||||||||||||||
352 | Parmer Crossing | Austin | TX | Austin-Round Rock, TX | 1989 | 163,712 | 98.4 | % | 1,893 | 11.75 | Big Bazar Grocery | Big Lots, Dollar Tree, Harbor Freight Tools, Mega Furniture, Planet Fitness | Fry's Electronics | ||||||||||||||||||
353 | Baytown Shopping Center | Baytown | TX | Houston-The Woodlands-Sugar Land, TX | 1987 | 95,941 | 91.2 | % | 982 | 11.23 | - | 24 Hour Fitness | - | ||||||||||||||||||
354 | El Camino | Bellaire | TX | Houston-The Woodlands-Sugar Land, TX | 2008 | 71,651 | 100.0 | % | 695 | 9.70 | El Ahorro Supermarket | Dollar Tree, Family Dollar | - | ||||||||||||||||||
355 | Bryan Square | Bryan | TX | College Station-Bryan, TX | 2008 | 59,029 | 65.8 | % | 310 | 10.17 | - | 99 Cents Only, Citi Trends, Firestone | - | ||||||||||||||||||
356 | Townshire | Bryan | TX | College Station-Bryan, TX | 2002 | 136,887 | 90.3 | % | 1,018 | 8.24 | - | Tops Printing | - | ||||||||||||||||||
357 | Central Station | College Station | TX | College Station-Bryan, TX | 1976 | 176,706 | 97.1 | % | 2,972 | 17.73 | - | Dollar Tree, HomeGoods, Party City, Spec's Liquors | Kohl's | ||||||||||||||||||
358 | Rock Prairie Crossing | College Station | TX | College Station-Bryan, TX | 2002 | 118,700 | 97.8 | % | 1,373 | 27.44 | Kroger | CVS | - | ||||||||||||||||||
359 | Carmel Village (3) | Corpus Christi | TX | Corpus Christi, TX | 2019 | 84,667 | 95.0 | % | 879 | 10.93 | - | Crunch Fitness, Dollar Tree, Tuesday Morning | - | ||||||||||||||||||
360 | Claremont Village | Dallas | TX | Dallas-Fort Worth-Arlington, TX | 1976 | 66,980 | 95.5 | % | 558 | 8.82 | - | Family Dollar | - | ||||||||||||||||||
361 | Kessler Plaza | Dallas | TX | Dallas-Fort Worth-Arlington, TX | 1975 | 68,962 | 48.0 | % | 519 | 15.68 | - | Family Dollar | - | ||||||||||||||||||
362 | Stevens Park Village | Dallas | TX | Dallas-Fort Worth-Arlington, TX | 1974 | 45,492 | 100.0 | % | 461 | 10.13 | - | Big Lots, O'Reilly Auto Parts | - | ||||||||||||||||||
363 | Webb Royal Plaza | Dallas | TX | Dallas-Fort Worth-Arlington, TX | 1961 | 108,545 | 100.0 | % | 1,174 | 11.30 | El Rio Grande Latin Market | Family Dollar | - | ||||||||||||||||||
364 | Wynnewood Village (3) | Dallas | TX | Dallas-Fort Worth-Arlington, TX | 2019 | 539,253 | 95.1 | % | 6,043 | 14.06 | El Rancho, Kroger | Fallas, Gen X Clothing, LA Fitness, Maya Cinema, Ross Dress for Less | - | ||||||||||||||||||
365 | Parktown | Deer Park | TX | Houston-The Woodlands-Sugar Land, TX | 1999 | 118,221 | 92.1 | % | 979 | 8.99 | Food Town | Burkes Outlet, Walgreens | - | ||||||||||||||||||
366 | Kenworthy Crossing | El Paso | TX | El Paso, TX | 2003 | 74,393 | 92.6 | % | 732 | 10.63 | Albertsons | - | Anytime Fitness | ||||||||||||||||||
367 | Preston Ridge | Frisco | TX | Dallas-Fort Worth-Arlington, TX | 2018 | 789,559 | 96.9 | % | 16,197 | 21.31 | 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 | - | ||||||||||||||||||
368 | Ridglea Plaza | Ft. Worth | TX | Dallas-Fort Worth-Arlington, TX | 1990 | 170,519 | 97.1 | % | 1,980 | 11.96 | Tom Thumb (Albertsons) | Goody Goody Wine & Spirits, Stein Mart | - | ||||||||||||||||||
369 | Trinity Commons | Ft. Worth | TX | Dallas-Fort Worth-Arlington, TX | 1998 | 197,423 | 91.2 | % | 3,624 | 20.12 | Tom Thumb (Albertsons) | DSW, Ulta | - | ||||||||||||||||||
370 | Village Plaza | Garland | TX | Dallas-Fort Worth-Arlington, TX | 2002 | 89,444 | 98.0 | % | 1,104 | 12.66 | Truong Nguyen Grocer | - | - | ||||||||||||||||||
371 | North Hills Village | Haltom City | TX | Dallas-Fort Worth-Arlington, TX | 1998 | 43,299 | 84.7 | % | 270 | 7.36 | - | Dollar Tree, Texas Bingo | - | ||||||||||||||||||
372 | Highland Village Town Center | Highland Village | TX | Dallas-Fort Worth-Arlington, TX | 1996 | 99,374 | 72.2 | % | 832 | 11.60 | - | Painted Tree Marketplace | - | ||||||||||||||||||
373 | Bay Forest | Houston | TX | Houston-The Woodlands-Sugar Land, TX | 2004 | 71,667 | 96.0 | % | 740 | 10.76 | Kroger | - | - | ||||||||||||||||||
374 | Beltway South | Houston | TX | Houston-The Woodlands-Sugar Land, TX | 1998 | 107,174 | 97.0 | % | 956 | 28.24 | Kroger | - | - | ||||||||||||||||||
375 | Braes Heights (3) | Houston | TX | Houston-The Woodlands-Sugar Land, TX | 2019 | 92,904 | 91.6 | % | 2,298 | 27.00 | - | CVS, Imagination Toys, I W Marks Jewelers | - | ||||||||||||||||||
376 | Braes Oaks Center | Houston | TX | Houston-The Woodlands-Sugar Land, TX | 1992 | 42,567 | 93.8 | % | 432 | 10.82 | - | - | - | ||||||||||||||||||
377 | Braesgate | Houston | TX | Houston-The Woodlands-Sugar Land, TX | 1997 | 91,382 | 98.3 | % | 611 | 6.80 | Food Town | - | - | ||||||||||||||||||
378 | Broadway | Houston | TX | Houston-The Woodlands-Sugar Land, TX | 2006 | 74,717 | 80.2 | % | 677 | 11.86 | El Ahorro Supermarket | Melrose Fashions | - | ||||||||||||||||||
379 | Clear Lake Camino South | Houston | TX | Houston-The Woodlands-Sugar Land, TX | 1964 | 105,501 | 90.4 | % | 1,442 | 16.19 | ALDI | 24 Hour Fitness, Mr. Gatti's Pizza, Spec's Liquors | - | ||||||||||||||||||
380 | Hearthstone Corners (3) | Houston | TX | Houston-The Woodlands-Sugar Land, TX | 2019 | 208,147 | 94.7 | % | 1,722 | 8.74 | El Rancho | Big Lots, Conn's | - | ||||||||||||||||||
381 | Jester Village (3) | Houston | TX | Houston-The Woodlands-Sugar Land, TX | 2019 | 62,665 | 95.1 | % | 1,152 | 19.34 | - | 24 Hour Fitness | - | ||||||||||||||||||
382 | Jones Plaza | Houston | TX | Houston-The Woodlands-Sugar Land, TX | 2000 | 111,206 | 70.1 | % | 882 | 11.32 | - | Fitness Connection | - | ||||||||||||||||||
383 | Jones Square | Houston | TX | Houston-The Woodlands-Sugar Land, TX | 1999 | 169,003 | 100.0 | % | 1,380 | 8.17 | - | Big Lots, Hobby Lobby | - | ||||||||||||||||||
384 | Maplewood | Houston | TX | Houston-The Woodlands-Sugar Land, TX | 2004 | 97,369 | 99.4 | % | 781 | 8.07 | Foodarama | Burke's Outlet | - | ||||||||||||||||||
385 | Merchants Park | Houston | TX | Houston-The Woodlands-Sugar Land, TX | 2009 | 243,798 | 98.7 | % | 3,431 | 14.26 | Kroger | Big Lots, Petco, Ross Dress for Less, Tuesday Morning | - | ||||||||||||||||||
386 | Northgate | Houston | TX | Houston-The Woodlands-Sugar Land, TX | 1972 | 40,244 | 81.4 | % | 233 | 7.12 | El Rancho* | Affordable Furniture, Firestone, TitleMax | - | ||||||||||||||||||
387 | Northshore | Houston | TX | Houston-The Woodlands-Sugar Land, TX | 2001 | 223,954 | 91.6 | % | 2,826 | 14.01 | Sellers Bros. | Conn's, Dollar Tree, Office Depot | - | ||||||||||||||||||
388 | Northtown Plaza | Houston | TX | Houston-The Woodlands-Sugar Land, TX | 1960 | 190,559 | 82.4 | % | 2,091 | 13.52 | El Rancho | 99 Cents Only, dd's Discounts (Ross) | - | ||||||||||||||||||
Supplemental Disclosure - Three Months Ended March 31, 2019 | Page 48 | ![]() |
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 | ||||||||||||||||||||
389 | Orange Grove | Houston | TX | Houston-The Woodlands-Sugar Land, TX | 2005 | 184,704 | 98.2 | % | 1,835 | 10.56 | - | 24 Hour Fitness, Floor & Décor | - | ||||||||||||||||||
390 | Pinemont Shopping Center | Houston | TX | Houston-The Woodlands-Sugar Land, TX | 1999 | 68,378 | 100.0 | % | 912 | 13.66 | - | Family Dollar, Houston Community College | - | ||||||||||||||||||
391 | Royal Oaks Village | Houston | TX | Houston-The Woodlands-Sugar Land, TX | 2001 | 144,929 | 98.2 | % | 3,278 | 23.04 | H-E-B | - | - | ||||||||||||||||||
392 | Tanglewilde Center | Houston | TX | Houston-The Woodlands-Sugar Land, TX | 1998 | 83,343 | 100.0 | % | 1,287 | 15.58 | ALDI | Dollar Tree, Party City, Salon In The Park | - | ||||||||||||||||||
393 | Westheimer Commons | Houston | TX | Houston-The Woodlands-Sugar Land, TX | 1984 | 241,253 | 94.1 | % | 1,913 | 8.42 | Fiesta Mart | King Dollar, Marshalls | - | ||||||||||||||||||
394 | Fry Road Crossing | Katy | TX | Houston-The Woodlands-Sugar Land, TX | 2005 | 240,940 | 99.2 | % | 2,533 | 11.14 | - | Hobby Lobby, Palais Royal, Stein Mart | - | ||||||||||||||||||
395 | Washington Square | Kaufman | TX | Dallas-Fort Worth-Arlington, TX | 1978 | 64,230 | 85.1 | % | 376 | 6.88 | - | AutoZone, Bealls (Stage Stores), Dollar Tree | - | ||||||||||||||||||
396 | Jefferson Park | Mount Pleasant | TX | Mount Pleasant, TX | 2001 | 130,096 | 100.0 | % | 964 | 7.41 | Super 1 Foods | Harbor Freight Tools, PetSense | - | ||||||||||||||||||
397 | Winwood Town Center | Odessa | TX | Odessa, TX | 2002 | 372,534 | 100.0 | % | 3,267 | 13.88 | H-E-B | dd's Discounts (Ross), Michaels, Office Depot, Party City, Ross Dress for Less, Target | - | ||||||||||||||||||
398 | Crossroads Centre - Pasadena | Pasadena | TX | Houston-The Woodlands-Sugar Land, TX | 1997 | 146,567 | 94.3 | % | 1,985 | 15.34 | Kroger | LA Fitness | - | ||||||||||||||||||
399 | Spencer Square | Pasadena | TX | Houston-The Woodlands-Sugar Land, TX | 1998 | 186,732 | 94.1 | % | 2,120 | 12.42 | Kroger | Burkes Outlet | - | ||||||||||||||||||
400 | Pearland Plaza | Pearland | TX | Houston-The Woodlands-Sugar Land, TX | 1995 | 156,491 | 94.6 | % | 1,152 | 7.78 | Kroger | Harbor Freight Tools, Walgreens | - | ||||||||||||||||||
401 | Market Plaza | Plano | TX | Dallas-Fort Worth-Arlington, TX | 2002 | 137,658 | 85.5 | % | 2,639 | 23.53 | Central Market (H-E-B) | - | - | ||||||||||||||||||
402 | Preston Park Village | Plano | TX | Dallas-Fort Worth-Arlington, TX | 1985 | 270,128 | 86.7 | % | 5,944 | 25.39 | - | Gap Factory Store, Infinite Bounds Gymnastics | - | ||||||||||||||||||
403 | Keegan's Meadow | Stafford | TX | Houston-The Woodlands-Sugar Land, TX | 1999 | 125,293 | 97.9 | % | 1,287 | 10.80 | El Rancho | Palais Royal | - | ||||||||||||||||||
404 | Texas City Bay | Texas City | TX | Houston-The Woodlands-Sugar Land, TX | 2005 | 224,514 | 88.3 | % | 1,882 | 9.60 | Kroger | Conn's, Harbor Freight Tools, Planet Fitness | - | ||||||||||||||||||
405 | Windvale Center | The Woodlands | TX | Houston-The Woodlands-Sugar Land, TX | 2002 | 101,088 | 98.3 | % | 1,160 | 27.60 | - | - | - | ||||||||||||||||||
406 | The Centre at Navarro | Victoria | TX | Victoria, TX | 2005 | 66,102 | 94.7 | % | 738 | 16.60 | ALDI | Planet Fitness, Walgreens | - | ||||||||||||||||||
407 | Spradlin Farm | Christiansburg | VA | Blacksburg-Christiansburg-Radford, VA | 2000 | 181,055 | 100.0 | % | 2,738 | 15.38 | - | Barnes & Noble, Big Lots, Michaels, Petco, T.J.Maxx | Target, The Home Depot | ||||||||||||||||||
408 | Culpeper Town Square | Culpeper | VA | Washington-Arlington-Alexandria, DC-VA-MD-WV | 1999 | 132,882 | 100.0 | % | 1,209 | 9.10 | Weis Markets | Mountain Run Bowling, Tractor Supply Co. | - | ||||||||||||||||||
409 | Hanover Square | Mechanicsville | VA | Richmond, VA | 1991 | 136,680 | 97.5 | % | 1,964 | 14.73 | - | Gold's Gym, Hobby Lobby | Kohl's | ||||||||||||||||||
410 | Tuckernuck Square | Richmond | VA | Richmond, VA | 1981 | 86,010 | 95.5 | % | 1,280 | 15.59 | - | 2nd & Charles, Chuck E. Cheese's | - | ||||||||||||||||||
411 | Cave Spring Corners | Roanoke | VA | Roanoke, VA | 2005 | 147,133 | 100.0 | % | 1,201 | 13.61 | Kroger | Hamrick's | - | ||||||||||||||||||
412 | Hunting Hills | Roanoke | VA | Roanoke, VA | 1989 | 167,875 | 95.3 | % | 1,462 | 9.23 | - | Dollar Tree, Kohl's, PetSmart | - | ||||||||||||||||||
413 | Lake Drive Plaza | Vinton | VA | Roanoke, VA | 2008 | 163,290 | 100.0 | % | 1,344 | 8.24 | Kroger | Big Lots, Dollar Tree | - | ||||||||||||||||||
414 | Hilltop Plaza | Virginia Beach | VA | Virginia Beach-Norfolk-Newport News, VA-NC | 2010 | 150,300 | 93.8 | % | 2,655 | 20.89 | Trader Joe's | JOANN, Kirkland’s, PetSmart, Ulta | - | ||||||||||||||||||
415 | Ridgeview Centre | Wise | VA | Big Stone Gap, VA | 1990 | 190,242 | 78.6 | % | 1,159 | 7.75 | - | Dollar Tree, Grand Home Furnishings, Harbor Freight Tools, Marshalls, Ollie's Bargain Outlet | Belk | ||||||||||||||||||
416 | Rutland Plaza | Rutland | VT | Rutland, VT | 1997 | 224,514 | 98.4 | % | 1,937 | 8.77 | Price Chopper | Dollar Tree, Flagship Cinemas, T.J.Maxx, Walmart | - | ||||||||||||||||||
417 | Spring Mall | Greenfield | WI | Milwaukee-Waukesha-West Allis, WI | 2003 | 182,632 | 32.8 | % | 806 | 24.08 | - | T.J.Maxx | - | ||||||||||||||||||
418 | Mequon Pavilions | Mequon | WI | Milwaukee-Waukesha-West Allis, WI | 1967 | 219,454 | 92.5 | % | 3,293 | 16.22 | Sendik's Food Market | Bed Bath & Beyond, DSW, Marshalls | - | ||||||||||||||||||
419 | Moorland Square Shopping Ctr | New Berlin | WI | Milwaukee-Waukesha-West Allis, WI | 1990 | 98,303 | 98.7 | % | 988 | 10.18 | Pick 'n Save (Kroger) | - | - | ||||||||||||||||||
420 | Paradise Pavilion | West Bend | WI | Milwaukee-Waukesha-West Allis, WI | 2000 | 203,545 | 95.2 | % | 1,399 | 7.22 | - | Hobby Lobby, Kohl's | ShopKo | ||||||||||||||||||
421 | Moundsville Plaza | Moundsville | WV | Wheeling, WV-OH | 2004 | 176,156 | 98.3 | % | 1,298 | 7.50 | Kroger | Big Lots, Dunham's Sports, Peebles | - | ||||||||||||||||||
422 | 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 | 73,192,186 | 91.1 | % | $ | 887,463 | $ | 14.32 | ||||||||||||||||||||||||
(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 March 31, 2019 | Page 49 | ![]() |