Form: 8-K

Current report

Exhibit 99.2


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>
SUPPLEMENTAL DISCLOSURE
 
 
 
 
 
Three Months Ended September 30, 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 September 30, 2019
 
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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 and landlord 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. See Straight-line Rent definition for additional information.
 
 
 
 
 
 
 
 
 
 
 
 
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 Stabilization
 
Development and redevelopment projects are deemed stabilized upon the earlier of (i) reaching approximately 90% billed occupancy or (ii) one year after the property is placed in service.
 
 
 
 
 
 
 
 
EBITDA, EBITDAre, Adjusted EBITDA & Cash Adjusted EBITDA
Supplemental, non-GAAP performance measures. Please see below for more information on the limitations of non-GAAP performance measures.
A reconciliation of net income to each of these measures is provided on page 7.
EBITDA is calculated as the sum of net income (loss) calculated 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 sale of real estate assets and (ii) impairment of real estate assets. Adjusted EBITDA represents EBITDAre as adjusted for (i) gain (loss) on extinguishment of debt, net 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, net, (ii) accretion of above- and below-market leases and tenant inducements, net, 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), calculated in accordance with GAAP, excluding (i) depreciation and amortization related to real estate, (ii) gains and losses from the sale of certain real estate assets, (iii) gains and losses from change in control, (iv) impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity and (v) 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 general and administrative), (ii) lease termination fees, (iii) straight-line rental income, net, (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(s)
 
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.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outparcel Development
 
Construction of a new freestanding building, separate from the main retail buildings and generally located on the outer edge of a property. May also refer to the demolition of an existing outparcel building to accommodate the construction of a new building.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 September 30, 2019
Page 1
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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 New 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 9/30/19
 
Nine Months
Ended 9/30/19
 
 
 
 
 
 
 
Total properties in Brixmor Property Group portfolio
 
409
 
409
 
 
 
 
 
 
 
 
Acquired properties excluded from Same Property NOI
 
(2)
 
(2)
 
 
 
 
 
 
 
 
Additional exclusions
 
(4)
 
(5)
 
 
 
 
 
 
 
 
Same Property NOI pool
 
403
 
402
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
In addition, four outparcels acquired in 2019 and 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 periods. 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 all 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 periods are now included in general and administrative, with no changes made to prior period presentations.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-GAAP Performance Measures
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The Company presents the non-GAAP performance measures set forth below. These measures should not be considered as alternatives to, or more meaningful than, net income (calculated in accordance with GAAP) or other GAAP financial measures, as an indicator of financial performance and are not alternatives to, or more meaningful than, cash flow from operating activities (calculated in accordance with GAAP) as a measure of liquidity. 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 calculated in accordance with GAAP. The Company’s computation of these 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 these 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
  • EBITDA & Cash Adjusted EBITDA
 
Considering the nature of its business as a real estate owner and operator, the Company believes that EBITDA is useful to investors in measuring its operating performance because the definition excludes items included in net income that do not relate to or are not indicative of the operating performance of the Company’s real estate, such as depreciation and amortization, interest expense and federal and state taxes. The Company believes EBITDAre is also useful to investors as it further eliminates disparities in EBITDA due to gain and losses on the disposition of operating properties and impairments of real estate assets during the period presented and therefore provides a more consistent metric for comparing the operating performance of the Company’s real estate between periods. The Company believes Adjusted EBITDA, which further eliminates disparities in EBITDAre due to gains and losses on extinguishment of debt and other items that the Company believes are not indicative of the Company’s operating performance, and Cash Adjusted EBITDA, which further eliminates straight-line rental income, net, accretion of above- and below-market leases and tenant inducements, net, and straight-line ground rent expense, are also useful to investors in understanding the Company’s operating performance and the Company’s ability to meet various coverage tests.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  • NAREIT FFO
 
Considering the nature of its business as a real estate owner and operator, the Company believes that NAREIT FFO is useful to investors in measuring its operating and financial performance because the definition excludes items included in net income that do not relate to or are not indicative of the Company’s operating and financial performance, such as depreciation and amortization related to real estate, and items which can make periodic and peer analyses of operating and financial performance more difficult, such as gains and losses from the sale of certain real estate assets.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  • NOI and Same Property NOI
 
Considering the nature of its business as a real estate owner and operator, the Company believes that NOI is useful to investors in measuring the operating performance of its property portfolio because the definition excludes various items included in net income that do not relate to, or are not indicative of, the operating performance of the Company’s properties, such as depreciation and amortization and corporate level expenses (including general and administrative). The Company believes Same Property NOI is also useful to investors as it further eliminates disparities in NOI due to the acquisition or disposition of properties or the stabilization of completed New Development properties during the period presented and therefore provides a more consistent metric for comparing the operating performance of the Company’s real estate between periods.
 

Supplemental Disclosure - Three Months Ended September 30, 2019
Page 2
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RESULTS OVERVIEW & GUIDANCE
 
 
 
 
Unaudited, dollars in thousands, except per share and per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
Summary Financial Results
 
9/30/19
 
9/30/18
 
9/30/19
 
9/30/18
 
 
 
 
Total revenues (page 6)
 
$ 292,965
 
$ 306,480
 
$ 875,109
 
$ 936,685

 
 
 
 
Net income (page 6) (1)
 
80,854
 
147,346
 
212,714
 
288,730

 
 
 
 
Net income per diluted share (page 6) (1)
 
0.27
 
0.49
 
0.71
 
0.95

 
 
 
 
Adjusted EBITDA (page 7) (1)
 
195,282
 
206,097
 
581,326
 
630,614

 
 
 
 
Cash Adjusted EBITDA (page 7) (1)
 
184,860
 
196,010
 
551,978
 
600,568

 
 
 
 
NAREIT FFO (page 8) (1)
 
145,272
 
128,413
 
430,803
 
437,504

 
 
 
 
NAREIT FFO per diluted share (page 8) (1)
 
0.49
 
0.42
 
1.44
 
1.44

 
 
 
 
 
Items that impact FFO comparability, net per share (page 8)
 
(0.00)
 
(0.07)
 
(0.01)
 
(0.07)
 
 
 
 
Dividends declared per share (page 8)
 
0.280
 
0.275
 
0.840
 
0.825

 
 
 
 
Dividend payout ratio (as % of NAREIT FFO) (page 8)
 
57.4
 
64.2
 
58.1
 
56.9
 %
 
 
 
 
NOI (page 10)
 
208,859
 
216,152
 
622,714
 
661,095

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Summary Operating and Financial Ratios
 
9/30/19
 
6/30/19
 
3/31/19
 
12/31/18
 
9/30/18
 
 
NOI margin (page 10) (2)
 
74.0
 
74.1
 
73.5
 
73.0
 %
 
73.8
 
 
Same property NOI growth (page 11) (3)
 
4.4
 
1.8
 
2.0
 
(0.2
)%
 
1.2
 
 
Fixed charge coverage (page 13)
 
4.1x
 
4.0x
 
4.1x
 
3.9x

 
3.5x
 
 
Net principal debt to Adjusted EBITDA (page 13) (4)
 
6.2x
 
6.4x
 
6.4x
 
6.2x

 
6.2x
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding Classes of Stock
 
As of 9/30/19
 
As of 6/30/19
 
As of 3/31/19
 
As of 12/31/18
 
As of 9/30/18
 
 
Common shares outstanding (page 13)
 
297,846
 
297,846
 
297,987
 
298,489

 
299,892
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Summary Portfolio Statistics (5)
 
As of 9/30/19
 
As of 6/30/19
 
As of 3/31/19
 
As of 12/31/18
 
As of 9/30/18
 
 
Number of properties (page 28)
 
409
 
421
 
422
 
425

 
445
 
 
Percent billed (page 28)
 
88.6
 
87.5
 
87.5
 
88.4
 %
 
89.4
 
 
Percent leased (page 28)
 
91.9
 
91.5
 
91.1
 
91.9
 %
 
92.5
 
 
ABR PSF (page 28)
 
$ 14.59
 
$ 14.39
 
$ 14.32
 
$ 14.10

 
$ 13.89
 
 
New lease rent spread (page 30)
 
30.5
 
30.4
 
32.7
 
31.5
 %
 
39.7
 
 
New & renewal lease rent spread (page 30)
 
13.3
 
13.9
 
12.3
 
11.2
 %
 
13.4
 
 
Total - new, renewal & option lease rent spread (page 30)
 
11.1
 
11.7
 
9.8
 
9.5
 %
 
12.1
 
 
Total - new, renewal & option GLA (page 30)
 
3,623,347
 
3,299,874
 
3,184,376
 
3,093,665

 
3,135,370
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2019 Guidance
 
Current
 
Previous
(at 6/30/19)
 
YTD
 
 
 
 
 
 
NAREIT FFO per diluted share (6)(7)
 
$1.90 - $1.93
 
$1.86 - $1.94
 
$ 1.44
 
 
 
 
 
 
Same property NOI growth
 
3.00% - 3.25%
 
2.75% - 3.25%
 
2.80
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) The Company capitalized $3.2 million and $8.7 million, or $0.01 and $0.03 per diluted share, of leasing payroll and legal costs during the three and nine months ended September 30, 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 year ratios have been updated for consistency 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 September 30, 2019
Page 3
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>
FINANCIAL SUMMARY
 
 
 
 
 
Supplemental Disclosure
 
Three Months Ended September 30, 2019
 
 





CONSOLIDATED BALANCE SHEETS
 
 
 
 
Unaudited, dollars in thousands, except share information
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of
 
As of
 
 
 
 
 
 
9/30/19
 
12/31/18
 
Assets
 
 
 
 
 
 
Real estate
 
 
 
 
 
 
 
Land
 
$
1,779,161

 
$
1,804,504

 
 
 
Buildings and tenant improvements
 
7,556,642

 
7,535,985

 
 
 
Construction in progress
 
155,487

 
90,378

 
 
 
Lease intangibles
 
630,065

 
667,910

 
 
 
 
 
 
10,121,355

 
10,098,777

 
 
 
Accumulated depreciation and amortization
 
(2,452,678
)
 
(2,349,127
)
 
 
Real estate, net
 
7,668,677

 
7,749,650

 
 
Cash and cash equivalents
 
29,072

 
41,745

 
 
Restricted cash
 
2,409

 
9,020

 
 
Marketable securities
 
19,109

 
30,243

 
 
Receivables, net
 
223,323

 
228,297

 
 
Deferred charges and prepaid expenses, net
 
151,125

 
145,662

 
 
Real estate assets held for sale
 
6,186

 
2,901

 
 
Other assets (1)
 
60,260

 
34,903

 
Total assets
 
$
8,160,161

 
$
8,242,421

 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
Debt obligations, net
 
$
4,852,510

 
$
4,885,863

 
 
Accounts payable, accrued expenses and other liabilities (1)
 
548,288

 
520,459

 
Total liabilities
 
5,400,798

 
5,406,322

 
 
 
 
 
 
 
 
 
 
Equity
 
 
 
 
 
 
Common stock, $0.01 par value; authorized 3,000,000,000 shares;
 
 
 
 
 
 
 
305,323,128 and 305,130,472 shares issued and 297,846,251 and 298,488,516
 
 
 
 
 
 
 
shares outstanding
 
2,978

 
2,985

 
 
Additional paid-in capital
 
3,226,531

 
3,233,329

 
 
Accumulated other comprehensive income (loss)
 
(13,207
)
 
15,973

 
 
Distributions in excess of net income
 
(456,939
)
 
(416,188
)
 
Total equity
 
2,759,363

 
2,836,099

 
Total liabilities and equity
 
$
8,160,161

 
$
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 September 30, 2019
Page 5
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CONSOLIDATED STATEMENTS OF OPERATIONS
Unaudited, dollars in thousands, except per share amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
 
 
9/30/19
 
9/30/18
 
9/30/19
 
9/30/18
 
Revenues
 
 
 
 
 
 
 
 
 
Rental income (1)
$
292,732

 
$
306,172

 
$
873,424

 
$
935,689

 
 
Other revenues
233

 
308

 
1,685

 
996

 
Total revenues
292,965

 
306,480

 
875,109

 
936,685

 
 
 
 
 
 
 
 
 
 
 
 
 
Operating expenses
 
 
 
 
 
 
 
 
 
Operating costs
29,573

 
31,969

 
90,138

 
101,340

 
 
Real estate taxes
43,688

 
44,711

 
130,203

 
135,383

 
 
Depreciation and amortization
82,837

 
85,183

 
249,825

 
266,900

 
 
Provision for doubtful accounts
—

 
3,094

 
—

 
6,458

 
 
Impairment of real estate assets
8,170

 
16,372

 
17,468

 
44,201

 
 
General and administrative (2)
24,550

 
21,209

 
75,168

 
64,955

 
Total operating expenses
188,818

 
202,538

 
562,802

 
619,237

 
 
 
 
 
 
 
 
 
 
 
 
 
Other income (expense)
 
 
 
 
 
 
 
 
 
Dividends and interest
128

 
156

 
575

 
356

 
 
Interest expense
(47,698
)
 
(55,364
)
 
(142,839
)
 
(165,735
)
 
 
Gain on sale of real estate assets
25,621

 
119,333

 
46,266

 
159,043

 
 
Loss on extinguishment of debt, net
(943
)
 
(19,759
)
 
(1,620
)
 
(20,182
)
 
 
Other
(401
)
 
(962
)
 
(1,975
)
 
(2,200
)
 
Total other income (expense)
(23,293
)
 
43,404

 
(99,593
)
 
(28,718
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income
$
80,854

 
$
147,346

 
$
212,714

 
$
288,730

 
 
 
 
 
 
 
 
 
 
 
 
 
Per common share:
 
 
 
 
 
 
 
 
 
Net income:
 
 
 
 
 
 
 
 
 
 
Basic
$
0.27

 
$
0.49

 
$
0.71

 
$
0.95

 
 
 
Diluted
$
0.27

 
$
0.49

 
$
0.71

 
$
0.95

 
 
Weighted average shares:
 
 
 
 
 
 
 
 
 
 
Basic
298,031

 
302,170

 
298,257

 
303,031

 
 
 
Diluted
298,879

 
302,382

 
298,927

 
303,213

 
 
 
 
 
 
 
 
 
 
 
 
(1) 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 and nine months ended September 30, 2019, Rental income is presented net of Revenues deemed uncollectible. See page 10 for additional information.
(2) The Company capitalized $3.2 million and $8.7 million of leasing payroll and legal costs during the three and nine months ended September 30, 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 September 30, 2019
Page 6
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EBITDA
 
 
 
 
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
9/30/19
 
9/30/18
 
9/30/19
 
9/30/18
 
 
 
 
 
 
 
 
 
 
 
Net income (1)
$
80,854

 
$
147,346

 
$
212,714

 
$
288,730

 
 
Interest expense
47,698

 
55,364

 
142,839

 
165,735

 
 
Federal and state taxes
256

 
844

 
1,842

 
1,960

 
 
Depreciation and amortization
82,837

 
85,183

 
249,825

 
266,900

 
EBITDA
211,645

 
288,737

 
607,220

 
723,325

 
 
Gain on sale of real estate assets
(25,621
)
 
(119,333
)
 
(46,266
)
 
(159,043
)
 
 
Impairment of real estate assets
8,170

 
16,372

 
17,468

 
44,201

 
EBITDAre
$
194,194

 
$
185,776

 
$
578,422

 
$
608,483

 
 
 
 
 
 
 
 
 
 
 
EBITDAre
$
194,194

 
$
185,776

 
$
578,422

 
$
608,483

 
 
Loss on extinguishment of debt, net
943

 
19,759

 
1,620

 
20,182

 
 
Litigation and other non-routine legal expenses
87

 
467

 
1,157

 
1,655

 
 
Transaction expenses
58

 
95

 
127

 
294

 
 
Total adjustments
1,088

 
20,321

 
2,904

 
22,131

 
Adjusted EBITDA
$
195,282

 
$
206,097

 
$
581,326

 
$
630,614

 
 
 
 
 
 
 
 
 
 
 
Adjusted EBITDA
$
195,282

 
$
206,097

 
$
581,326

 
$
630,614

 
 
Straight-line rental income, net
(6,831
)
 
(5,015
)
 
(18,051
)
 
(11,896
)
 
 
Accretion of above- and below-market leases and tenant inducements, net
(3,622
)
 
(5,112
)
 
(11,391
)
 
(18,250
)
 
 
Straight-line ground rent expense (2)
31

 
40

 
94

 
100

 
 
Total adjustments
(10,422
)
 
(10,087
)
 
(29,348
)
 
(30,046
)
 
Cash Adjusted EBITDA
$
184,860

 
$
196,010

 
$
551,978

 
$
600,568

 
 
 
 
 
 
 
 
 
 
(1) The Company capitalized $3.2 million and $8.7 million of leasing payroll and legal costs during the three and nine months ended September 30, 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 September 30, 2019
Page 7
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FUNDS FROM OPERATIONS (FFO)
 
 
 
 
Unaudited, dollars in thousands, except per share amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
 
9/30/19
 
9/30/18
 
9/30/19
 
9/30/18
 
 
 
 
 
 
 
 
 
 
 
 
Net income (1)
$
80,854

 
$
147,346

 
$
212,714

 
$
288,730

 
 
Depreciation and amortization related to real estate
81,869

 
84,028

 
246,887

 
263,616

 
 
Gain on sale of real estate assets
(25,621
)
 
(119,333
)
 
(46,266
)
 
(159,043
)
 
 
Impairment of real estate assets
8,170

 
16,372

 
17,468

 
44,201

 
NAREIT FFO
$
145,272

 
$
128,413

 
$
430,803

 
$
437,504

 
 
 
 
 
 
 
 
 
 
 
 
NAREIT FFO per diluted share (1)
$
0.49

 
$
0.42

 
$
1.44

 
$
1.44

 
Weighted average diluted shares outstanding
298,879

 
302,382

 
298,927

 
303,213

 
 
 
 
 
 
 
 
 
 
 
 
Items that impact FFO comparability
 
 
 
 
 
 
 
 
 
Loss on extinguishment of debt, net
$
(943
)
 
$
(19,759
)
 
$
(1,620
)
 
$
(20,182
)
 
 
Litigation and other non-routine legal expenses
(87
)
 
(467
)
 
(1,157
)
 
(1,655
)
 
 
Transaction expenses
(58
)
 
(95
)
 
(127
)
 
(294
)
 
Total items that impact FFO comparability
$
(1,088
)
 
$
(20,321
)
 
$
(2,904
)
 
$
(22,131
)
 
Items that impact FFO comparability, net per share
$
(0.00
)
 
$
(0.07
)
 
$
(0.01
)
 
$
(0.07
)
 
 
 
 
 
 
 
 
 
 
 
 
Additional Disclosures
 
 
 
 
 
 
 
 
 
Straight-line rental income, net
$
6,831

 
$
5,015

 
$
18,051

 
$
11,896

 
 
Accretion of above- and below-market leases and tenant inducements, net
3,622

 
5,112

 
11,391

 
18,250

 
 
Straight-line ground rent expense (2)
(31
)
 
(40
)
 
(94
)
 
(100
)
 
 
 
 
 
 
 
 
 
 
 
 
Dividends declared per share
$
0.280

 
$
0.275

 
$
0.840

 
$
0.825

 
Dividends declared
$
83,397

 
$
82,470

 
$
250,230

 
$
248,970

 
Dividend payout ratio (as % of NAREIT FFO)
57.4
%
 
64.2
%
 
58.1
%
 
56.9
%
 
 
 
 
 
 
 
 
 
 
 
(1) The Company capitalized $3.2 million and $8.7 million, or $0.01 and $0.03 per diluted share, of leasing payroll and legal costs during the three and nine months ended September 30, 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 September 30, 2019
Page 8
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SUPPLEMENTAL BALANCE SHEET DETAIL
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of
 
As of
 
 
 
 
9/30/19
 
12/31/18
 
 
 
 
 
 
 
 
Receivables, net
 
 
 
 
 
Straight-line rent receivable
$
141,664

 
$
128,154

 
 
Tenant receivables
91,773

 
96,047

 
 
Allowance for doubtful accounts
(22,751
)
 
(21,724
)
 
 
Insurance receivable (1)
—

 
19,461

 
 
Other
12,637

 
6,359

 
 
Total receivables, net
$
223,323

 
$
228,297

 
 
 
 
 
 
 
 
Deferred charges and prepaid expenses, net
 
 
 
 
 
Deferred charges, net
$
124,879

 
$
126,082

 
 
Prepaid expenses, net
26,246

 
19,580

 
 
Total deferred charges and prepaid expenses, net
$
151,125

 
$
145,662

 
 
 
 
 
 
 
 
Other assets
 
 
 
 
 
Right-of-use asset (2)
$
40,599

 
$
—

 
 
Furniture, fixtures and leasehold improvements, net
11,679

 
13,771

 
 
Interest rate swaps
3,810

 
18,630

 
 
Other
4,172

 
2,502

 
 
Total other assets
$
60,260

 
$
34,903

 
 
 
 
 
 
 
 
Accounts payable, accrued expenses and other liabilities
 
 
 
 
 
Accounts payable and other accrued expenses
$
250,820

 
$
234,651

 
 
Below market leases, net
110,854

 
126,874

 
 
Dividends payable
85,442

 
85,284

 
 
Lease liability (2)
45,604

 
—

 
 
Interest rate swaps
17,124

 
2,571

 
 
Accrued litigation (1)
—

 
19,461

 
 
Accrued SEC settlement (3)
—

 
7,000

 
 
Other
38,444

 
44,618

 
 
Total accounts payable, accrued expenses and other liabilities
$
548,288

 
$
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 finalized a settlement with respect to the SEC investigation. The settlement agreement, among other things, required the payment of a civil penalty of $7.0 million, which the Company paid during the quarter ended September 30, 2019 and had 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 September 30, 2019
Page 9
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NOI & SUPPLEMENTAL STATEMENT OF OPERATIONS DETAIL
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
 
9/30/19
 
9/30/18
 
9/30/19
 
9/30/18
 
Net Operating Income Detail
 
 
 
 
 
 
 
 
 
Base rent
$
213,942

 
$
224,106

 
$
637,391

 
$
680,952

 
 
Expense reimbursements
64,368

 
66,348

 
191,997

 
204,589

 
 
Revenues deemed uncollectible / Provision for doubtful accounts
(2,217
)
 
(3,094
)
 
(7,208
)
 
(6,458
)
 
 
Ancillary and other rental income / Other revenues
4,891

 
4,517

 
14,744

 
13,088

 
 
Percentage rents
1,105

 
915

 
6,037

 
5,547

 
 
Operating costs
(29,542
)
 
(31,929
)
 
(90,044
)
 
(101,240
)
 
 
Real estate taxes
(43,688
)
 
(44,711
)
 
(130,203
)
 
(135,383
)
 
Net operating income
$
208,859

 
$
216,152

 
$
622,714

 
$
661,095

 
 
 
 
 
 
 
 
 
 
 
 
Operating Ratios
 
 
 
 
 
 
 
 
 
NOI margin (NOI / revenues) (1)
74.0
%
 
73.8
%
 
73.9
%
 
73.6
%
 
 
Expense recovery ratio (expense reimbursements / (operating costs + real estate taxes))
87.9
%
 
86.6
%
 
87.2
%
 
86.5
%
 
 
 
 
 
 
 
 
 
 
 
 
Reconciliation of Net Operating Income to Net Income
 
 
 
 
 
 
 
 
Net operating income
$
208,859

 
$
216,152

 
$
622,714

 
$
661,095

 
 
Lease termination fees
423

 
467

 
2,706

 
2,363

 
 
Straight-line rental income, net
6,831

 
5,015

 
18,051

 
11,896

 
 
Accretion of above- and below-market leases and tenant inducements, net
3,622

 
5,112

 
11,391

 
18,250

 
 
Straight-line ground rent expense (2)
(31
)
 
(40
)
 
(94
)
 
(100
)
 
 
Depreciation and amortization
(82,837
)
 
(85,183
)
 
(249,825
)
 
(266,900
)
 
 
Impairment of real estate assets
(8,170
)
 
(16,372
)
 
(17,468
)
 
(44,201
)
 
 
General and administrative
(24,550
)
 
(21,209
)
 
(75,168
)
 
(64,955
)
 
 
Total other income (expense)
(23,293
)
 
43,404

 
(99,593
)
 
(28,718
)
 
Net income
$
80,854

 
$
147,346

 
$
212,714

 
$
288,730

 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Statement of Operations Detail
 
 
 
 
 
 
 
 
Rental income (3)
 
 
 
 
 
 
 
 
 
Base rent
$
213,942

 
$
224,106

 
$
637,391

 
$
680,952

 
 
Expense reimbursements
64,368

 
66,348

 
191,997

 
204,589

 
 
Revenues deemed uncollectible
(2,217
)
 
—

 
(7,208
)
 
—

 
 
Lease termination fees
423

 
467

 
2,706

 
2,363

 
 
Straight-line rental income, net
6,831

 
5,015

 
18,051

 
11,896

 
 
Accretion of above- and below-market leases and tenant inducements, net
3,622

 
5,112

 
11,391

 
18,250

 
 
Ancillary and other rental income
4,658

 
4,209

 
13,059

 
12,092

 
 
Percentage rents
1,105

 
915

 
6,037

 
5,547

 
 
Total rental income
$
292,732

 
$
306,172

 
$
873,424

 
$
935,689

 
 
 
 
 
 
 
 
 
 
 
 
Other revenues
$
233

 
$
308

 
1,685

 
996

 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
 
 
 
 
 
 
 
 
 
Mortgage, note and other interest
$
38,611

 
$
45,378

 
$
106,970

 
$
134,449

 
 
Unsecured credit facility and term loan interest
8,231

 
9,945

 
31,918

 
30,979

 
 
Capitalized interest
(997
)
 
(629
)
 
(2,401
)
 
(1,798
)
 
 
Deferred financing cost amortization
1,748

 
1,596

 
5,299

 
4,909

 
 
Debt premium / discount amortization, net
105

 
(926
)
 
1,053

 
(2,804
)
 
 
Total interest expense
$
47,698

 
$
55,364

 
$
142,839

 
$
165,735

 
 
 
 
 
 
 
 
 
 
 
 
Other
 
 
 
 
 
 
 
 
 
Federal and state taxes
$
256

 
$
844

 
$
1,842

 
$
1,960

 
 
Other
145

 
118

 
133

 
240

 
 
Total other
$
401

 
$
962

 
$
1,975

 
$
2,200

 
 
 
 
 
 
 
 
 
 
 
 
Additional General and Administrative Disclosures
 
 
 
 
 
 
 
 
Capitalized construction compensation costs
$
3,771

 
$
2,625

 
$
10,681

 
$
7,654

 
Capitalized leasing legal costs (4)
—

 
1,159

 
—

 
2,530

 
 
 
 
 
 
 
 
 
 
 
Capitalized leasing payroll costs (4)
$
—

 
$
2,022

 
$
—

 
$
6,159

 
Capitalized leasing commission costs
1,578

 
2,468

 
4,532

 
5,414

 
 
Total capitalized leasing compensation costs
$
1,578

 
$
4,490

 
$
4,532

 
$
11,573

 
 
 
 
 
 
 
 
 
 
 
Equity based compensation, net
$
3,236

 
$
2,738

 
$
8,847

 
$
8,006

 
 
 
 
 
 
 
 
 
 
(1) NOI margin includes the impact of Revenues deemed uncollectible / Provision for doubtful accounts within Revenues for all 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 and nine months ended September 30, 2019, Rental income is presented net of Revenues deemed uncollectible.
(4) The Company capitalized $3.2 million and $8.7 million of leasing payroll and legal costs during the three and nine months ended September 30, 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 September 30, 2019
Page 10
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SAME PROPERTY NOI ANALYSIS
 
 
 
 
 
 
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
 
 
Nine Months Ended
 
 
 
 
 
 
 
9/30/19
 
9/30/18
 
Change
 
9/30/19
 
9/30/18
 
Change
 
Same Property NOI Analysis
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of properties
 
403

 
403

 
—
 
402

 
402

 
—
 
Percent billed
 
88.9
%
 
89.4
%
 
(0.5%)
 
88.9
%
 
89.4
%
 
(0.5%)
 
Percent leased
 
92.3
%
 
92.6
%
 
(0.3%)
 
92.2
%
 
92.6
%
 
(0.4%)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Base rent
 
$
208,744

 
$
203,097

 
 
 
$
617,027

 
$
604,411

 
 
 
 
Expense reimbursements
 
62,788

 
60,629

 
 
 
186,105

 
183,086

 
 
 
 
Revenues deemed uncollectible
 
(2,173
)
 
—

 
 
 
(6,852
)
 
—

 
 
 
 
Ancillary and other rental income / Other revenues
 
4,714

 
4,092

 
 
 
14,016

 
11,748

 
 
 
 
Percentage rents
 
1,082

 
683

 
 
 
5,997

 
5,173

 
 
 
 
 
 
 
275,155

 
268,501

 
2.5%
 
816,293

 
804,418

 
1.5%
 
Operating expenses
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating costs
 
(28,258
)
 
(29,027
)
 
 
 
(86,704
)
 
(89,981
)
 
 
 
 
Real estate taxes
 
(42,576
)
 
(41,071
)
 
 
 
(125,496
)
 
(121,593
)
 
 
 
 
Provision for doubtful accounts
 
—

 
(2,665
)
 
 
 
—

 
(5,300
)
 
 
 
 
 
 
 
(70,834
)
 
(72,763
)
 
(2.7%)
 
(212,200
)
 
(216,874
)
 
(2.2%)
 
Same property NOI
 
$
204,321

 
$
195,738

 
4.4%
 
$
604,093

 
$
587,544

 
2.8%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NOI margin (1)(2)
 
74.3
%
 
73.6
%
 
 
 
74.0
%
 
73.5
%
 
 
 
Expense recovery ratio
 
88.6
%
 
86.5
%
 
 
 
87.7
%
 
86.5
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent Contribution to Same Property NOI Growth:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Change
 
Percent Contribution
 
 
 
Change
 
Percent Contribution
 
 
 
 
Base rent
 
$
5,647

 
2.9%
 
 
 
$
12,616

 
2.1%
 
 
 
 
Revenues deemed uncollectible / Provision for doubtful accounts
 
492

 
0.3%
 
 
 
(1,552
)
 
(0.2%)
 
 
 
 
Net recoveries
 
1,423

 
0.7%
 
 
 
2,393

 
0.4%
 
 
 
 
Ancillary and other rental income / Other revenues
 
622

 
0.3%
 
 
 
2,268

 
0.4%
 
 
 
 
Percentage rents
 
399

 
0.2%
 
 
 
824

 
0.1%
 
 
 
 
 
 
 
 
 
4.4%
 
 
 
 
 
2.8%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Reconciliation of Net Income to Same Property NOI
 
 
 
 
 
 
 
 
 
Same property NOI
 
$
204,321

 
$
195,738

 
 
 
$
604,093

 
$
587,544

 
 
 
Adjustments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-same property NOI
 
4,538

 
20,414

 
 
 
18,621

 
73,551

 
 
 
 
Lease termination fees
 
423

 
467

 
 
 
2,706

 
2,363

 
 
 
 
Straight-line rental income, net
 
6,831

 
5,015

 
 
 
18,051

 
11,896

 
 
 
 
Accretion of above- and below-market leases and tenant inducements, net
3,622

 
5,112

 
 
 
11,391

 
18,250

 
 
 
 
Straight-line ground rent expense
 
(31
)
 
(40
)
 
 
 
(94
)
 
(100
)
 
 
 
 
Depreciation and amortization
 
(82,837
)
 
(85,183
)
 
 
 
(249,825
)
 
(266,900
)
 
 
 
 
Impairment of real estate assets
 
(8,170
)
 
(16,372
)
 
 
 
(17,468
)
 
(44,201
)
 
 
 
 
General and administrative
 
(24,550
)
 
(21,209
)
 
 
 
(75,168
)
 
(64,955
)
 
 
 
 
Total other income (expense)
 
(23,293
)
 
43,404

 
 
 
(99,593
)
 
(28,718
)
 
 
 
Net income
 
$
80,854

 
$
147,346

 
 
 
$
212,714

 
$
288,730

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(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 and nine months ended September 30, 2019.
(2) NOI margin includes the impact of Revenues deemed uncollectible / Provision for doubtful accounts within Revenues for all periods presented.


Supplemental Disclosure - Three Months Ended September 30, 2019
Page 11
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CAPITAL EXPENDITURES
 
 
 
 
 
 
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
 
9/30/19
 
9/30/18
 
9/30/19
 
9/30/18
 
Leasing related:
 
 
 
 
 
 
 
 
 
Tenant improvements and tenant inducements
$
22,728

 
$
13,644

 
$
54,068

 
$
52,826

 
 
External leasing commissions
3,253

 
2,770

 
7,740

 
7,773

 
 
 
 
25,981

 
16,414

 
61,808

 
60,599

 
 
 
 
 
 
 
 
 
 
 
 
Value-enhancing:
 
 
 
 
 
 
 
 
 
Anchor space repositionings
15,985

 
20,825

 
51,537

 
38,839

 
 
Outparcel developments
6,122

 
6,720

 
12,200

 
10,823

 
 
Redevelopments
40,084

 
17,816

 
99,757

 
51,059

 
 
New development
738

 
2,832

 
4,130

 
7,886

 
 
Other (1)
9,319

 
1,424

 
14,836

 
2,952

 
 
 
 
72,248

 
49,617

 
182,460

 
111,559

 
 
 
 
 
 
 
 
 
 
 
 
Maintenance capital expenditures (2)
15,760

 
13,704

 
33,738

 
21,942

 
 
 
 
 
 
 
 
 
 
 
 
Total capital expenditures
$
113,989

 
$
79,735

 
$
278,006

 
$
194,100

 
 
 
 
 
 
 
 
 
 
 
(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 September 30, 2019
Page 12
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CAPITALIZATION, LIQUIDITY & DEBT RATIOS
 
Unaudited, dollars and shares in thousands except per share amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of
 
As of
 
 
 
 
 
 
 
 
 
 
9/30/19
 
12/31/18
 
 
Equity Capitalization:
 
 
 
 
 
 
 
 
 
 
Common shares outstanding
 
 
 
 
297,846

 
298,489

 
 
 
Common share price
 
 
 
 
$
20.29

 
$
14.69

 
 
Total equity capitalization
 
 
 
 
$
6,043,295

 
$
4,384,803

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt:
 
 
 
 
 
 
 
 
 
 
 
Revolving credit facility
 
 
 
 
$


 
$
306,000

 
 
 
Term loans
 
 
 
 
650,000

 
1,150,000

 
 
 
Unsecured notes
 
 
 
 
4,218,453

 
3,468,453

 
 
 
Secured mortgage
 
 
 
 
7,000

 
7,000

 
 
Total principal debt
 
 
 
 
4,875,453

 
4,931,453

 
 
Add/Less: Net unamortized premium/discount
 
 
11,376

 
(11,300
)
 
 
Less: Deferred financing fees
 
 
 
 
(34,319
)
 
(34,290
)
 
 
Total debt
 
 
 
 
4,852,510

 
4,885,863

 
 
Less: Cash, cash equivalents and restricted cash
 
 
(31,481
)
 
(50,765
)
 
 
Net debt
 
 
 
 
$
4,821,029

 
$
4,835,098

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total market capitalization:
 
 
 
 
$
10,864,324

 
$
9,219,901

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liquidity:
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents and restricted cash
 
 
$
31,481

 
$
50,765

 
 
 
Available under revolving credit facility (1)
 
 
1,245,748

 
938,813

 
 
 
 
 
 
 
 
 
 
$
1,277,229

 
$
989,578

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratios:
 
 
 
 
 
 
 
 
 
 
Principal debt to total market capitalization
 
44.9
%
 
53.5
%
 
 
 
Principal debt to total assets, before depreciation

45.9
%
 
46.6
%
 
 
 
Secured principal debt to total assets, before depreciation
 
0.1
%
 
0.1
%
 
 
 
Net principal debt to Adjusted EBITDA (2)(3)
 
6.2x

 
6.2x

 
 
 
Unencumbered assets to unsecured debt
 
2.2x

 
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
 
 
 
 
 
 
 
 
 
 
9/30/19
 
12/31/18
 
 
 
Percentage of total debt:
 
 
 
 
 
 
 
 
 
 
 
Fixed
 
 
 
 
97.9
%
 
83.7
%
 
 
 
 
Variable
 
 
 
 
2.1
%
 
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
 
 
 
 
5.7

 
5.4

 
 
 
 
Variable
 
 
 
 
2.3

 
4.3

 
 
 
 
Total
 
 
 
 
5.6

 
5.2

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Credit Ratings & Outlook:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fitch Ratings
BBB-
Positive
 
 
 
 
 
 
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 $4.3 million.
 
 
 
 
(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 September 30, 2019
Page 13
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DEBT OVERVIEW
 
 
 
 
 
 
 
 
 
 
 
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Maturity Schedule - Debt obligations
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Maturities

 
Weighted Average Stated Interest Rate (1)

 
 
 
 
 
 
 
 
 
2019
 
 
 
$
—

 
—

 
 
 
 
 
 
 
 
 
2020
 
 
 
—

 
—

 
 
 
 
 
 
 
 
 
2021
 
 
 
—

 
—

 
 
 
 
 
 
 
 
 
2022
 
 
 
750,000

 
3.46
%
 
 
 
 
 
 
 
 
 
2023
 
 
 
850,000

 
2.88
%
 
 
 
 
 
 
 
 
 
2024
 
 
 
807,000

 
3.73
%
 
 
 
 
 
 
 
 
 
2025
 
 
 
700,000

 
3.85
%
 
 
 
 
 
 
 
 
 
2026
 
 
 
607,542

 
4.17
%
 
 
 
 
 
 
 
 
 
2027
 
 
 
400,000

 
3.90
%
 
 
 
 
 
 
 
 
 
2028
 
 
 
7,708

 
6.90
%
 
 
 
 
 
 
 
 
 
2029+
 
 
 
753,203

 
4.14
%
 
 
 
 
 
 
 
 
 
Total Debt Maturities
 
$
4,875,453

 
3.70
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unamortized premium
 
11,376

 
 
 
 
 
 
 
 
 
 
 
Deferred financing costs
 
(34,319
)
 
 
 
 
 
 
 
 
 
 
 
Debt obligations, net
 
$
4,852,510

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Detailed Maturity Schedule - Debt obligations
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Rate Secured Mortgage
 
Variable Rate and Fixed Rate Unsecured Notes
 
Variable Rate and Fixed Rate Unsecured Credit Facility / Term Loans
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
Maturities

 
Weighted Average Stated Interest Rate

 
Maturities

 
Weighted Average Stated Interest Rate (1)

 
Maturities

 
Weighted Average Stated Interest Rate (1)

 
 
 
2019
 
$
—

 
—

 
$
—

 
—

 
$
—

 
—

 
 
 
2020
 
—

 
—

 
—

 
—

 
—

 
—

 
 
 
2021
 
—

 
—

 
—

 
—

 
—

 
—

 
 
 
2022
 
—

 
—

 
750,000

 
3.46
%
 
—

 
—

 
 
 
2023
 
—

 
—

 
500,000

 
3.25
%
 
350,000

 
2.36
%
 
 
 
2024
 
7,000

 
4.40
%
 
500,000

 
3.65
%
 
300,000

 
3.86
%
 
 
 
2025
 
—

 
—

 
700,000

 
3.85
%
 
—

 
—

 
 
 
2026
 
—

 
—

 
607,542

 
4.17
%
 
—

 
—

 
 
 
2027
 
—

 
—

 
400,000

 
3.90
%
 
—

 
—

 
 
 
2028
 
—

 
—

 
7,708

 
6.90
%
 
—

 
—

 
 
 
2029+
 
—

 
—

 
753,203

 
4.14
%
 
—

 
—

 
 
 
Total Debt Maturities
$
7,000

 
4.40
%
 
$
4,218,453

 
3.79
%
 
$
650,000

 
3.05
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Weighted average stated interest rate includes the impact of the Company's interest rate swap agreements.
 

Supplemental Disclosure - Three Months Ended September 30, 2019
Page 14
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SUMMARY OF OUTSTANDING DEBT
 
 
 
 
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding
 
Weighted Average
 
Maturity
 
Percent of
 
 
Loan / Property Name
 
 
Balance
Stated Interest Rate (1)
Date
 
Total Indebtedness
 
 
FIXED RATE DEBT:
 
 
 
 
 
 
 
 
 
 
 
 
Secured Mortgage
 
 
 
 
 
 
 
 
 
 
 
 
Larchmont Centre
 
 
$
7,000

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

 
4.40
 
 
 
0.14
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured fixed rate debt
 
 
 
 
 
 
 
 
 
 
 
 
Term Loan Facility - $350,000 (2)
 
 
350,000

 
2.36
 
12/12/23
 
7.18
 
 
 
Term Loan Facility - $300,000 (3)
 
 
300,000

 
3.86
 
7/26/24
 
6.15
 
 
 
TOTAL UNSECURED FIXED RATE DEBT
 
 
650,000

 
3.05
 
 
 
13.33
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured Notes
 
 
 
 
 
 
 
 
 
 
 
 
2022 Brixmor OP Notes (4)
 
 
150,000

 
2.16
 
2/1/22
 
3.08
 
 
 
3.88%, 2022 Brixmor OP Notes
 
 
500,000

 
3.88
 
8/15/22
 
10.26
 
 
 
3.25%, 2023 Brixmor OP Notes
 
 
500,000

 
3.25
 
9/15/23
 
10.26
 
 
 
3.65%, 2024 Brixmor OP Notes
 
 
500,000

 
3.65
 
6/15/24
 
10.26
 
 
 
3.85%, 2025 Brixmor OP Notes
 
 
700,000

 
3.85
 
2/1/25
 
14.36
 
 
 
4.13%, 2026 Brixmor OP Notes
 
 
600,000

 
4.13
 
6/15/26
 
12.30
 
 
 
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
 
8.20
 
 
 
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
 
 
 
4.13%, 2029 Brixmor OP Notes
 
 
750,000

 
4.13
 
5/15/29
 
15.38
 
 
 
7.50%, 2029 Brixmor LLC Notes
 
 
3,203

 
7.50
 
7/30/29
 
0.07
 
 
 
TOTAL FIXED RATE UNSECURED NOTES
 
 
4,118,453

 
3.81
 
 
 
84.48
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL FIXED RATE DEBT
 
 
$
4,775,453

 
3.70
 
 
 
97.95
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
UNSECURED VARIABLE RATE DEBT:
 
 
 
 
 
 
 
 
 
 
 
 
2022 Brixmor OP Notes (LIBOR + 105 basis points)
 
$
100,000

 
3.30
 
2/1/22
 
2.05
 
 
 
TOTAL UNSECURED VARIABLE RATE DEBT
 
 
100,000

 
3.30
 
 
 
2.05
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL VARIABLE RATE DEBT
 
 
$
100,000

 
3.30
 
 
 
2.05
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL DEBT OBLIGATIONS
 
 
$
4,875,453

 
3.70
 
 
 
100.00
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unamortized premium
11,376

 
 
 
 
 
 
 
 
 
 
Deferred financing costs
 
(34,319
)
 
 
 
 
 
 
 
 
 
 
DEBT OBLIGATIONS, NET
 
$
4,852,510

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Weighted average stated interest rate includes the impact of the Company's interest rate swap agreements.
 
(2) Effective November 1, 2016, the Term Loan Facility - $350,000 is swapped from one-month LIBOR to a fixed rate of 1.113% (plus a spread of 125 basis points) through July 30, 2021.
 
(3) 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 125 basis points) through July 26, 2024.
 
(4) Effective November 1, 2016, $150,000 of the 2022 Brixmor OP Notes is swapped from three-month LIBOR to a fixed rate of 1.113% (plus a spread of 105 basis points) through July 30, 2021.
 

Supplemental Disclosure - Three Months Ended September 30, 2019
Page 15
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COVENANT DISCLOSURE
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured OP Notes Covenant Disclosure
 
 
 
 
 
 
 
 
 
 
 
Covenants
 
9/30/19
 
 
 
 
 
 
 
 
 
 
 
 
 
 I. Aggregate debt test
 
 < 65%
 
46.9
%
 
 
 
Total Debt
 
 
 
4,852,510

 
 
 
Total Assets
 
 
 
10,348,913

 
 
 
 
 
 
 
 
 
 
 
 
 
II. Secured debt test
 
< 40%
 
0.1
%
 
 
 
Total Secured Debt
 
 
 
7,185

 
 
 
Total Assets
 
 
 
10,348,913

 
 
 
 
 
 
 
 
 
 
 
 
 
III. Unencumbered asset ratio
 
 > 150%
 
213.2
%
 
 
 
Total Unencumbered Assets
 
 
 
10,329,169

 
 
 
Unsecured Debt
 
 
 
4,845,325

 
 
 
 
 
 
 
 
 
 
 
 
 
IV. Debt service test
 
 > 1.5x
 
4.2x

 
 
 
Consolidated EBITDA
 
 
 
778,846

 
 
 
Annual Debt Service Charge
 
 
 
186,560

 
 
 
 
 
 
 
 
 
 
 
 
 
For detailed descriptions of the unsecured OP notes covenant calculations and definitions of capitalized terms please refer to the Prospectus Supplement filed by the OP with the SEC on August 13, 2019 and the notes and indenture incorporated therein by reference.
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured Credit Facility Covenant Disclosure
 
 
 
 
 
 
 
 
 
 
 
Covenants
 
9/30/19
 
 
 
 
 
 
 
 
 
 
 
 
 
 I. Leverage ratio
 
 < 60%
 
37.3
%
 
 
 
Total Outstanding Indebtedness
 
 
 
4,875,453

 
 
 
Balance Sheet Cash (1)
 
 
 
38,395

 
 
 
Total Asset Value
 
 
 
12,977,165

 
 
 
 
 
 
 
 
 
 
 
 
 
II. Secured leverage ratio (2)
 
< 40%
 
N/A

 
 
 
Total Secured Indebtedness
 
 
 
7,000

 
 
 
Balance Sheet Cash (1)
 
 
 
38,395

 
 
 
Total Asset Value
 
 
 
12,977,165

 
 
 
 
 
 
 
 
 
 
 
 
 
III. Unsecured leverage ratio
 
 < 60%
 
37.3
%
 
 
 
Total Unsecured Indebtedness
 
 
 
4,868,453

 
 
 
Unrestricted Cash (3)
 
 
 
35,986

 
 
 
Unencumbered Asset Value
 
 
12,959,385

 
 
 
 
 
 
 
 
 
 
 
 
 
IV. Fixed charge coverage ratio
 
 > 1.5x
 
4.5x

 
 
 
Total Net Operating Income
 
 
 
842,779

 
 
 
Capital Expenditure Reserve
 
 
 
10,731

 
 
 
Fixed Charges
 
 
 
183,402

 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Balance Sheet Cash consists of Cash and cash equivalents, Restricted cash and certain Marketable securities.
 
 
(2) The secured leverage ratio is (0.2%) 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 September 30, 2019
Page 16
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>
INVESTMENT SUMMARY
 
 
 
 
 
Supplemental Disclosure
 
Three Months Ended September 30, 2019
 
 





ACQUISITIONS
Dollars in thousands, except ABR PSF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
MSA
 
Purchase Date
 
Purchase Price
 
GLA / Acres
 
Percent Leased
 
 ABR
PSF
 
Major Tenants (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended June 30, 2019 (2)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Land adjacent to Parmer Crossing
 
Austin-Round Rock, TX
 
4/22/19
 
$
2,155

 
0.7 acres

 
-

 
-

 
-
 
 
Centennial Shopping Center
 
Denver-Aurora-Lakewood, CO
 
4/23/19
 
17,900

 
113,682

 
92.7
%
 
$
37.69

 
King Soopers (Kroger), Pet Supplies Plus
 
 
Plymouth Square Shopping Center (3)
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
5/1/19
 
56,000

 
235,728

(3)
79.9
%
(3)
18.84

 
Weis Markets, Marshalls, REI, Sweat Fitness
 
 
 
 
 
 
 
 
$
76,055

 
349,410 /
0.7 acres

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL - NINE MONTHS ENDED SEPTEMBER 30, 2019
$
76,055

 
349,410 /
0.7 acres

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Major tenants exclude non-owned major tenants.
 
(2) In addition, on June 7, 2019, Brixmor paid $2,400 to terminate a lease and acquire subleases at Baytown Shopping Center in Baytown, TX.
 
(3) Plymouth Square Shopping Center excludes square footage related to the anticipated relocation of Brixmor's regional office.
 


Supplemental Disclosure - Three Months Ended September 30, 2019
Page 18
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DISPOSITIONS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except ABR PSF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
MSA
 
Sale Date
 
Sale Price
 
GLA / Acres
 
Percent Leased
 
ABR PSF (1)
 
Major Tenants (2)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Spring Mall - Walgreens (3)
 
Milwaukee-Waukesha-West Allis, WI
 
4/23/19
 
$
5,100

 
16,940

 
100.0
%
 
$
22.14

 
Walgreens
 
Streetsboro Crossing
 
Akron, OH
 
4/30/19
 
7,900

 
89,436

 
93.9
%
 
7.28

 
Giant Eagle
 
The Manchester Collection - Northern Hills (3)
 
Hartford-West Hartford-East Hartford, CT
 
5/17/19
 
4,950

 
11,980

 
100.0
%
 
37.81

 
Men's Warehouse
 
Westlane Shopping Center
 
Indianapolis-Carmel-Anderson, IN
 
5/24/19
 
6,950

 
71,602

 
100.0
%
 
9.79

 
Save-A-Lot, Citi Trends
 
Bay Pointe Plaza
 
Tampa-St. Petersburg-Clearwater, FL
 
6/12/19
 
25,600

 
95,760

 
98.3
%
 
17.43

 
Publix, Bealls Outlet, Pet Supermarket
 
Covington Gallery - Arby's (3)
 
Atlanta-Sandy Springs-Roswell, GA
 
6/27/19
 
1,635

 
2,400

 
100.0
%
 
43.75

 
-
 
 
 
 
 
 
 
$
52,135

 
288,118

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended September 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Perlis Plaza
 
Americus, GA
 
7/1/19
 
$
5,702

 
165,315

 
83.1
%
 
$
6.11

 
Belk, Roses
 
North Hills Village
 
Dallas-Fort Worth-Arlington, TX
 
7/31/19
 
2,500

 
43,299

 
84.7
%
 
7.36

 
Dollar Tree
 
Twin Oaks Shopping Center
 
Davenport-Moline-Rock Island, IA-IL
 
7/31/19
 
6,125

 
113,328

 
97.6
%
 
6.82

 
Hy-Vee, Eye Surgeons Associates
 
Bensalem Square
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
8/14/19
 
8,800

 
70,378

 
100.0
%
 
11.13

 
Redner's Warehouse Market
 
Palm Plaza
 
Corpus Christi, TX
 
8/15/19
 
3,182

 
50,475

 
82.8
%
 
8.04

 
Bealls (Stage Stores), Family Dollar
 
Pinemont Shopping Center
 
Houston-The Woodlands-Sugar Land, TX
 
8/19/19
 
9,967

 
68,378

 
100.0
%
 
13.66

 
Family Dollar, Houston Community College
 
Westview Center
 
Chicago-Naperville-Elgin, IL-IN-WI
 
8/21/19
 
20,900

 
321,382

 
84.2
%
 
10.43

 
Tony's Finer Foods, Amber's Furniture, LA Fitness, Sears Outlet
 
Lake Drive Plaza
 
Roanoke, VA
 
8/26/19
 
16,650

 
163,290

 
100.0
%
 
8.25

 
Kroger, Big Lots, Dollar Tree
 
Payton Park
 
Talladega-Sylacauga, AL
 
9/13/19
 
15,700

 
231,820

 
98.2
%
 
6.77

 
Walmart Supercenter, Burke's Outlet
 
Merchant's Central
 
Tullahoma-Manchester, TN
 
9/20/19
 
12,500

 
208,123

 
95.8
%
 
6.18

 
Walmart Supercenter, Goody's
 
The Shoppes at Southside
 
Jacksonville, FL
 
9/24/19
 
23,300

 
112,613

 
100.0
%
 
20.95

 
Best Buy, David's Bridal, Urban Air Adventure Park
 
Glendale Galleria
 
Phoenix-Mesa-Scottsdale, AZ
 
9/24/19
 
14,800

 
119,525

 
87.0
%
 
13.17

 
Gymnasium Academy, LA Fitness, Sears Outlet
 
Mansell Crossing - Studio Movie Grill (3)
 
Atlanta-Sandy Springs-Roswell, GA
 
9/27/19
 
11,000

 
51,615

 
100.0
%
 
17.22

 
Studio Movie Grill
 
 
 
 
 
 
 
$
151,126

 
1,719,541

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL - NINE MONTHS ENDED SEPTEMBER 30, 2019
 
$
249,361

 
2,475,036

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) ABR PSF excludes the GLA of lessee owned leasehold improvements.
(2) Major tenants exclude non-owned major tenants.
(3) Represents partial sale of shopping center. Data presented reflects only the portion of property sold.


Supplemental Disclosure - Three Months Ended September 30, 2019
Page 19
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ANCHOR SPACE REPOSITIONING SUMMARY
Dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
 
MSA
 
 
 
 
 
 
 
Description
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
IN PROCESS ANCHOR SPACE REPOSITIONINGS
 
 
 
 
 
 
New Projects Added To In Process Pipeline During The Three Months Ended September 30, 2019
 
 
 
 
 
1

Springdale - Phase III
 
Mobile, AL
 
 
Remerchandise former Burlington Stores (relocated within center) with a 46K SF Conn's HomePlus and additional retailers
 
 
2

Gateway Plaza - Vallejo
 
Vallejo-Fairfield, CA
 
 
Remerchandise former Toys"R"Us with a 45K SF LA Fitness
 
 
3

Aurora Plaza
 
Denver-Aurora-Lakewood, CO
 
 
Combine former Gen-X and Techno Rescue for 48K SF Chuze Fitness
 
 
4

Waterford Commons
 
Norwich-New London, CT
 
 
Remerchandise former Babies"R"Us with a 25K SF Tractor Supply Company
 
 
5

East Port Plaza
 
Port St. Lucie, FL
 
 
Remerchandise remaining 51K SF portion of the former Kmart with Urban Air Adventure Park
 
 
 
In Process Projects
 
 
 
 
 
 
 
 
 
 
6

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
 
 
7

Briggsmore Plaza
 
Modesto, CA
 
 
Remerchandise former Fallas with a 19K SF dd's Discounts (Ross Dress for Less)
 
 
8

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
 
 
9

Westridge Court - Project I
 
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 Bed Bath & Beyond
 
 
10

Westridge Court - Project II
 
Chicago-Naperville-Elgin, IL-IN-WI
 
 
Remerchandise former Gordman's with a 50K SF Edge Fitness
 
 
11

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
 
 
12

Perkins Farm Marketplace
 
Worcester, MA-CT
 
 
Remerchandise and expand former Fallas with a 35K SF Ollie's Bargain Outlet
 
 
13

Delco Plaza
 
Detroit-Warren-Dearborn, MI
 
 
Remerchandise former Babies"R"Us with a 55K SF Urban Air Adventure Park
 
 
14

Cayuga Mall
 
Ithaca, NY
 
 
Remerchandise former T.J.Maxx with a 20K SF Planet Fitness and a 10K SF Dollar Tree and renovation of existing Big Lots in conjunction with store remodel
 
 
15

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
 
 
16

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
 
 
17

Franklin Square - Project I
 
Charlotte-Concord-Gastonia, NC-SC
 
 
Remerchandise former Michaels with a 10K SF Partners in Primary Care and an 8K SF Skechers
 
 
18

Parkway Plaza
 
Winston-Salem, NC
 
 
Remerchandise former Fallas with a 17K SF Badcock Home Furniture
 
 
19

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
 
 
20

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
 
 
21

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
 
 
22

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
 
 
23

Williamson Square - Project II
 
Nashville-Davidson--Murfreesboro--Franklin, TN
 
 
Combine former Sky Zone and Hard Knocks to accommodate a 49K SF Painted Tree Marketplace
 
 
24

Broadway
 
Houston-The Woodlands-Sugar Land, TX
 
 
Remerchandise former Fallas with a 15K SF Blink Fitness (Equinox)
 
 
25

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
 
 
26

Maplewood
 
Houston-The Woodlands-Sugar Land, TX
 
 
Relocate and expand Burke’s Outlet to 21K SF, combining underutilized small shop space
 
 
27

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
 
 
28

Ridgeview Centre
 
Big Stone Gap, VA
 
 
Remerchandise remaining former Kmart space with a 20K SF Marshalls and an additional junior anchor
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of Projects
 
Net Estimated Costs (1)
 
Gross Costs to Date
 
Expected NOI Yield (1)
 
 
 
 
 
Total In Process
28

 
$
123,650
 
 
$
58,000

 
9% - 14%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2019
Page 20
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ANCHOR SPACE REPOSITIONING SUMMARY
Dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
 
MSA
 
 
 
 
 
 
 
Description
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
STABILIZED ANCHOR SPACE REPOSITIONINGS
 
 
 
Projects Stabilized During The Three Months Ended September 30, 2019
 
 
 
 
 
1

Superior Marketplace
 
Boulder, CO
 
 
Remerchandise former Sports Authority with a 23K SF Stickley Furniture and a 17K SF Goldfish Swim School
 
 
2

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
 
 
3

Rivercrest Shopping Center
 
Chicago-Naperville-Elgin, IL-IN-WI
 
 
Remerchandise former Ultra Foods with an 88K SF At Home
 
 
4

18 Ryan
 
Detroit-Warren-Dearborn, MI
 
 
Remerchandise former Kroger with a 39K SF Dream Market grocer and a 13K SF RedLine Athletics
 
 
5

Kingston Overlook
 
Knoxville, TN
 
 
Remerchandise former Babies"R"Us with a 42K SF Urban Air Adventure Park
 
 
 
 
 
 
 
 
 
 
 
 
Projects Stabilized During The Six Months Ended June 30, 2019
 
 
 
 
 
6

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
 
 
7

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
 
 
8

Lompoc Center
 
Santa Maria-Santa Barbara, CA
 
 
Remerchandise former Staples with a 10K SF Ulta, a 9K SF Five Below and a 5K SF Famous Footwear
 
 
9

Arapahoe Crossings
 
Denver-Aurora-Lakewood, CO
 
 
Remerchandise former Gordman's with a 40K SF Burlington Stores and a 15K SF Planet Fitness
 
 
10

Clearwater Mall
 
Tampa-St. Petersburg-Clearwater, FL
 
 
Remerchandise former hhgregg with a 35K SF Burlington Stores
 
 
11

Market Centre
 
Elkhart-Goshen, IN
 
 
Remerchandise former MC Sports with a 21K SF JOANN
 
 
12

Arborland Center
 
Ann Arbor, MI
 
 
Remerchandise former Toys"R"Us with a 48K SF Gardner White Furniture
 
 
13

Ellisville Square
 
St. Louis, MO-IL
 
 
Remerchandise and expand former Sports Authority with a 22K SF ALDI and a 15K SF Petco
 
 
14

Bedford Grove
 
Manchester-Nashua, NH
 
 
Remerchandise former Hannaford with a 36K SF Bed Bath & Beyond and a 21K SF Boston Interiors
 
 
15

Franklin Square - Project II
 
Charlotte-Concord-Gastonia, NC-SC
 
 
Remerchandise former Fallas with an 11K SF Five Below
 
 
16

The Commons at Wolfcreek
 
Memphis, TN-MS-AR
 
 
Remerchandise former hhgregg with a 39K SF Painted Tree Marketplace
 
 
17

Williamson Square - Project I
 
Nashville-Davidson--Murfreesboro--Franklin, TN
 
 
Remerchandise former Tuesday Morning with a 10K SF Goldfish Swim School and a 4K SF Burn Boot Camp
 
 
18

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

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 Project
Costs (1)
 
NOI Yield (1)
 
 
 
 
 
 
 
Total Stabilized
19

 
$
55,950
 
 
11
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(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 September 30, 2019
Page 21
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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 September 30, 2019
 
 
 
 
 
 
 
 
 
 
1
Wynnewood Village
 
Dallas-Fort Worth-Arlington, TX
 
Construction of a 3K SF Raising Canes
 
Dec-19
 
$
2,600

 
$
2,100

 
9%
 
 
2
Delta Center
 
Lansing-East Lansing, MI
 
Construction of a 2K SF Chipotle
 
Sep-20
 
1,200

 
150

 
8%
 
 
3
Brunswick Town Center
 
Cleveland-Elyria, OH
 
Construction of a 5K SF Chick-fil-A
 
Sep-20
 
850

 
150

 
12%
 
 
4
Whitemarsh Shopping Center
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
Construction of a 9K SF multi-tenant outparcel, including a 3K SF American Family Care and a 3K SF Orangetheory Fitness
 
Sep-20
 
4,250

 
450

 
10%
 
 
5
Lakes Crossing
 
Muskegon, MI
 
Construction of a 5K SF Chick-fil-A
 
Jun-21
 
550

 
200

 
15%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
In Process Projects
 
 
 
 
 
 
 
 
 
 
 
 
 
 
6
Northmall Centre
 
Tucson, AZ
 
Construction of a 2K SF Starbucks
 
Dec-19
 
1,300

 
1,050

 
7%
 
 
7
Westridge Court
 
Chicago-Naperville-Elgin, IL-IN-WI
 
Construction of an 8K SF Lazy Dog Restaurant and Bar
 
Dec-19
 
2,200

 
1,150

 
6%
 
 
8
Winwood Town Center
 
Odessa, TX
 
Construction of a 7K SF Rodeo Dental
 
Mar-20
 
2,000

 
1,450

 
9%
 
 
9
Hanover Square
 
Richmond, VA
 
Construction of a 12K SF multi-tenant outparcel, including a 5K SF Panera, a 4K SF Aspen Dental, and a 2K SF Chipotle
 
Mar-20
 
4,250

 
3,050

 
11%
 
 
10
Market Centre
 
Elkhart-Goshen, IN
 
Construction of a 10K SF multi-tenant outparcel, including a 5K SF Panera, a 2K SF GNC and a 1K SF Cricket Wireless
 
Jun-20
 
3,050

 
2,200

 
9%
 
 
11
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
 
Jun-20
 
2,850

 
2,700

 
15%
 
 
12
Rockland Plaza
 
New York-Newark-Jersey City, NY-NJ-PA
 
Construction of a 5K SF multi-tenant outparcel, including a 3K SF Shake Shack and a 2K SF Chipotle
 
Jun-20
 
3,850

 
1,050

 
9%
 
 
13
Park Hills Plaza
 
Altoona, PA
 
Construction of a 10K SF multi-tenant outparcel, including a 3K SF Sleep Number, a 2K SF Kay Jewelers, a 2K SF Starbucks, and a 1K SF Sports Clips
 
Sep-20
 
3,900

 
3,500

 
9%
 
 
14
Southport Centre I - VI
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
Demolition of former Bakers Square for construction of a 5K SF Panera
 
Dec-20
 
550

 
100

 
3%
 
 
 
TOTAL IN PROCESS OUTPARCEL DEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE
 
 
 
 
 
$
33,400

 
$
19,300

 
10%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Stabilization
 
 
 
Net Project
 
 
 
 
 
Property Name
 
MSA
 
Project Description
 
Quarter
 
 
 
 Costs (1,2)
 
NOI Yield (1,2)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
STABILIZED OUTPARCEL DEVELOPMENTS (3)
 
 
 
 
 
 
 
 
 
 
 
 
 
Projects Stabilized During The Three Months Ended September 30, 2019
 
 
 
 
 
 
 
 
 
 
1
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

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

 
20%
 
 
 
Projects Stabilized During The Six Months Ended June 30, 2019
 
 
 
 
 
 
 
 
 
 
3
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%
 
 
4
The Shoppes at Cinnaminson
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
Construction of a 3K SF Chase
 
Mar-19
 
 
 
1,200

 
15%
 
 
5
Milestone Plaza
 
Greenville-Anderson-Mauldin, SC
 
Construction of a 5K SF Panera
 
Mar-19
 
 
 
450

 
9%
 
 
6
Fry Road Crossing
 
Houston-The Woodlands-Sugar Land, TX
 
Construction of a 4K SF Freddy's Frozen Custard and Steakburgers
 
Mar-19
 
 
 
100

 
160%
 
 
 
TOTAL STABILIZED OUTPARCEL DEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE
 
 
 
 
 
 
 
$
7,650

 
12%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(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.
 
 
 
 
 
 
 
(3) The project at Westview Center was removed from stabilized outparcel development projects due to sale of property during the third quarter.
 
 
 
 
 
 
 
 
 
The in process projects listed above are actively underway and reflect projects for which leases have been executed with the tenant(s) listed in the project descriptions. There is no guarantee that the Company will complete any or all of these projects, or
that the net estimated costs or expected NOI yields will be the amounts shown 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 September 30, 2019
Page 22
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REDEVELOPMENT SUMMARY
 
Dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net
 
Gross
 
Expected
 
 
 
 
 
 
 
 
Property
 
Stabilization
 
Estimated
 
Costs
 
NOI
 
 
Property Name
 
MSA
 
Project Description
 
Acreage
 
Quarter
 
Costs (1)
 
to Date
 
Yield (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
IN PROCESS REDEVELOPMENTS
 
 
 
 
 
 
 
 
 
 
 
 
 
New Projects Added To In Process Pipeline During The Three Months Ended September 30, 2019
 
 
 
 
 
 
 
 
 
 
 
1

Laurel Square
 
New York-Newark-Jersey City, NY-NJ-PA
 
Redevelopment of former Pathmark to accommodate a 30K SF Corrado’s Market and additional retail space; combine small shop spaces for a 10K SF Dollar Tree; upgrade and remerchandise existing outparcel building; and shopping center upgrades including facade renovations, parking lot enhancements and pylon sign upgrades
 
31

 
Sep-21
 
$
12,550

 
$
750

 
10
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2

Collegetown Shopping Center
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
Redevelopment of former Kmart with a 40K SF Big Lots, a 25K SF LIDL and an additional junior anchor; construction of multi-tenant outparcel buildings; and shopping center upgrades including façade renovations, parking reconfiguration, and pylon sign and lighting enhancements
 
23

 
Dec-21
 
18,750

 
700

 
8
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
In Process Projects
 
 
 
 
 
 
 
 
 
 
 
3

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

 
Dec-19
 
3,150

 
2,200

 
9
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
4

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
 
3,750

 
1,750

 
9
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5

Beneva Village Shoppes (2)
 
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

 
Mar-20
 
10,650

 
10,550

 
10
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
6

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

 
Mar-20
 
10,100

 
5,150

 
8
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
7

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

 
3,700

 
9
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
8

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
 
12,400

 
10,950

 
10
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
9

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

 
2,650

 
14
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
10

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

 
5,700

 
8
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11

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 façade renovations, parking lot enhancements and pylon sign upgrades
 
12

 
Sep-20
 
8,900

 
2,050

 
9
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12

Speedway Super Center - Phase II
 
Indianapolis-Carmel-Anderson, IN
 
Redevelopment 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

 
3,350

 
10
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
13

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
 
16,350

 
14,000

 
7
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
14

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
 
6,700

 
4,150

 
9
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2019
Page 23
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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)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
15

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

 
Dec-20
 
39,150

 
23,500

 
9
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
16

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

 
2,900

 
8
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
17

Wynnewood Village - Phase I
 
Dallas-Fort Worth-Arlington, TX
 
Raze existing 24K SF office building and relocate / terminate existing shops; ground up construction of a 73K SF Maya Cinemas and a 34K SF LA Fitness
 
65

 
Mar-21
 
21,300

 
12,750

 
8
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
18

Village at Mira Mesa - Phase II
 
San Diego-Carlsbad, CA
 
Raze existing Firestone and 16K SF of outparcel buildings to accommodate construction of three retail and restaurant outparcels totaling 24K SF, including a 4K SF Mo-Mo-Paradise, a 4K SF Time Warner, a 2K SF Sunmerry Bakery, and additional small shop space
 
36

 
Jun-21
 
10,400

 
2,650

 
7
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
19

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

 
4,150

 
8
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
20

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-22
 
9,950

 
650

 
10
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL IN PROCESS REDEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE
 
 
 
 
 
$
256,850

 
$
114,250

 
9
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property
 
Stabilization
 
 
 
Net Project
 
NOI
 
 
Property Name
 
MSA
 
Project Description
 
Acreage
 
Quarter
 
 
 
 Costs (1,3)
 
Yield (1,3)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
STABILIZED REDEVELOPMENTS
 
 
 
 
 
 
 
 
 
 
 
 
 
Projects Stabilized During The Three Months Ended September 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1

Village at Mira Mesa - Phase I (4)
 
San Diego-Carlsbad, CA
 
Remerchandise and expand former Kohl’s with a 32K SF Sprouts Farmers Market, construction of a 24K SF Michaels, a 21K SF BevMo!, and 10K SF Five Below; 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

 
Sep-19
 
 
 
$
20,900

 
9
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2

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
 
 
 
6,400

 
10
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
3

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; and shopping center upgrades including new landscaping
 
35

 
Sep-19
 
 
 
8,050

 
9
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
4

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
 
 
 
19,600

 
7
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL STABILIZED REDEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE
 
 
 
 
 
 
 
$
54,950

 
8
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Represents gross project costs less any project specific credits (lease termination fees or other ancillary credits).
 
 
 
 
 
 
 
 
 
(2) Net estimated costs exclude $1 million of project specific credits (lease termination fees or other ancillary credits).
 
 
 
 
 
 
 
 
 
(3) Net project costs and NOI yields may vary from those previously disclosed due to final project reconciliations.
 
 
 
 
 
 
 
 
 
(4) 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 September 30, 2019
Page 24
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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 - Phase III
 
San Diego-Carlsbad, CA
 
Redevelopment of existing anchor space for multiple retailers and potential residential rental component
 
 
3

Superior Marketplace
 
Boulder, CO
 
Redevelopment and repositioning of shopping center with multiple retailers, restaurants and/or multi-family or hospitality users
 
 
4

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

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
 
 
6

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

Kings Park Plaza
 
New York-Newark-Jersey City, NY-NJ-PA
 
Redevelopment of shopping center to leverage proximity to area transit, remerchandise with multiple retailers, potential multi-family component
 
 
10

Stewart Plaza
 
New York-Newark-Jersey City, NY-NJ-PA
 
Reconfigure existing anchor space and remerchandise with multiple retailers
 
 
11

Three Village Shopping Center
 
New York-Newark-Jersey City, NY-NJ-PA
 
Redevelopment of shopping center to leverage proximity to area transit, remerchandise with multiple retailers, potential multi-family component
 
 
12

Plymouth Square Shopping Center
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
Redevelopment and remerchandising of shopping center, reconfigure and repurpose underutilized space with office users
 
 
13

Roosevelt Mall - Future Phases
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
Extensive repositioning and reconfiguration, densification of site
 
 
14

Market Plaza
 
Dallas-Fort Worth-Arlington, TX
 
Extensive redevelopment and repositioning of shopping center, remerchandise with multiple retailers
 
 
15

Preston Park Village
 
Dallas-Fort Worth-Arlington, TX
 
Repurpose, assemble and reposition for national retail merchandise mix, densification of site, enhancement of common areas
 
 
16

Wynnewood Village - Future Phases
 
Dallas-Fort Worth-Arlington, TX
 
Redevelopment and repositioning of shopping center, densification of site
 
 
17

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

Springdale - Phase IV
 
Mobile, AL
 
Densification of site, including a multi-tenant outparcel development
 
 
2

Carmen Plaza
 
Oxnard-Thousand Oaks-Ventura, CA
 
Densification of site, including multi-tenant outparcel developments
 
 
3

Upland Town Square
 
Riverside-San Bernardino-Ontario, CA
 
Densification of site, including outparcel development
 
 
4

Westminster City Center
 
Denver-Aurora-Lakewood, CO
 
Redevelopment of existing anchor space for multiple retailers
 
 
5

Fox Run
 
Washington-Arlington-Alexandria, DC-VA-MD-WV
 
Redevelopment of existing anchor spaces for multiple retailers, potential outparcel development, enhancement of common areas
 
 
6

Venetian Isle Shopping Center
 
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
 
 
8

Venice Shopping Center (1)
 
North Port-Sarasota-Bradenton, FL
 
Redevelopment of existing anchor space for new anchor prototype, potential outparcel development
 
 
9

Venice Village Shoppes
 
North Port-Sarasota-Bradenton, FL
 
Redevelopment of existing anchor space for new anchor prototype and façade renovation
 
 
10

Downtown Publix (1)
 
Port St. Lucie, FL
 
Densification of site, including outparcel development
 
 
11

East Port Plaza (1)
 
Port St. Lucie, FL
 
Redevelopment of existing anchor space for new anchor prototype
 
 
12

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
 
 
13

Mansell Crossing
 
Atlanta-Sandy Springs-Roswell, GA
 
Densification of site, including multi-tenant outparcel developments
 
 
14

The Village at Mableton (1)
 
Atlanta-Sandy Springs-Roswell, GA
 
Redevelopment of existing anchor space for multiple retailers
 
 
15

Haymarket Mall
 
Des Moines-West Des Moines, IA
 
Redevelopment of existing anchor space for multiple retailers
 
 
16

Tinley Park Plaza
 
Chicago-Naperville-Elgin, IL-IN-WI
 
Reconfiguration of existing footprint for multiple retailers and/or entertainment users, outparcel development
 
 
17

Westridge Court
 
Chicago-Naperville-Elgin, IL-IN-WI
 
Redevelopment of existing anchor space, adjacent retail space, densification of site and façade renovation
 
 
18

Capitol Shopping Center
 
Concord, NH
 
Redevelopment of existing anchor space for multiple retailers
 
 
19

College Plaza
 
New York-Newark-Jersey City, NY-NJ-PA
 
Densification of site, including one or more multi-tenant outparcel developments
 
 
20

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

Supplemental Disclosure - Three Months Ended September 30, 2019
Page 25
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FUTURE REDEVELOPMENT OPPORTUNITIES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
MSA
 
Project Description
 
 
 
 
 
 
 
 
 
 
21

Southland Shopping Center
 
Cleveland-Elyria, OH
 
Reconfigure and remerchandise existing two story retail building
 
 
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

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

The Commons at Wolfcreek
 
Memphis, TN-MS-AR
 
Densification of site, including multi-tenant outparcel developments
 
 
25

Kessler Plaza
 
Dallas-Fort Worth-Arlington, TX
 
Remerchandise former discount grocer with multiple retailers
 
 
 
 
 
 
 
 
 
(1) Indicates project added to pipeline during the three months ended September 30, 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 believes 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 September 30, 2019
Page 26
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>
PORTFOLIO SUMMARY
 
 
 
 
 
Supplemental Disclosure
 
Three Months Ended September 30, 2019
 
 





PORTFOLIO OVERVIEW
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
As of:
 
 
 
 
 
 
 
 
 
9/30/19
 
6/30/19
 
3/31/19
 
12/31/18
 
9/30/18
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of properties
 
 
409

 
421

 
422

 
425

 
445

 
 
 
 
 
GLA
 
 
71,540,493

 
73,280,766

 
73,192,186

 
73,673,124

 
76,577,108

 
 
 
 
 
Percent billed
 
 
88.6%

 
87.5%

 
87.5%

 
88.4%

 
89.4%

 
 
 
 
 
Percent leased
 
 
91.9%

 
91.5%

 
91.1%

 
91.9%

 
92.5%

 
 
 
 
 
 
TOTAL ≥ 10,000 SF
 
 
94.7%

 
94.2%

 
93.5%

 
94.6%

 
95.5%

 
 
 
 
 
 
TOTAL < 10,000 SF
 
 
85.6%

 
85.3%

 
85.7%

 
85.7%

 
85.5%

 
 
 
 
 
ABR
 
 
$
892,997

 
$
894.735

 
$
887,463

 
$
887,743

 
$
911,116

 
 
 
 
 
ABR PSF
 
 
$
14.59

 
$
14.39

 
$
14.32

 
$
14.10

 
$
13.89

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PORTFOLIO BY UNIT SIZE AS OF 9/30/19
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of
Units
 
GLA
 
Percent Billed
 
Percent Leased
 
Percent of Vacant GLA
 
 ABR
 
ABR PSF
 
 
 
 
≥ 35,000 SF
465

 
27,543,058

 
92.6%

 
94.7%

 
25.2%

 
$
230,394

 
$
10.23

 
 
 
 
20,000 - 34,999 SF
511

 
13,441,837

 
90.1%

 
95.6%

 
10.2%

 
138,431

 
10.89

 
 
 
 
10,000 - 19,999 SF
627

 
8,609,053

 
91.2%

 
93.2%

 
10.1%

 
110,740

 
14.08

 
 
 
 
5,000 - 9,999 SF
1,187

 
8,174,294

 
82.7%

 
87.0%

 
18.4%

 
122,162

 
17.98

 
 
 
 
< 5,000 SF
6,527

 
13,772,251

 
80.9%

 
84.8%

 
36.1%

 
291,270

 
25.71

 
 
 
 
TOTAL
9,317

 
71,540,493

 
88.6%

 
91.9%

 
100.0%

 
$
892,997

 
$
14.59

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL ≥ 10,000 SF
1,603

 
49,593,948

 
91.7%

 
94.7%

 
45.5%

 
$
479,565

 
$
11.13

 
 
 
 
TOTAL < 10,000 SF
7,714

 
21,946,545

 
81.6%

 
85.6%

 
54.5%

 
413,432

 
22.81

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Reflects portfolio statistics as reported for the specified period.
 
 
 
 
 
 
 
 




Supplemental Disclosure - Three Months Ended September 30, 2019
Page 28
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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)
 
89

 
2,745,372

 
3.8
%
 
$
30,857

 
3.5
%
 
$
11.24

 
 
 
 
2

The Kroger Co. (2)
 
52

 
3,410,576

 
4.8
%
 
25,362

 
2.8
%
 
7.44

 
 
 
 
3

Dollar Tree Stores, Inc. (3)
 
127

 
1,456,848

 
2.0
%
 
15,795

 
1.8
%
 
10.84

 
 
 
 
4

Publix Super Markets, Inc.
 
29

 
1,279,135

 
1.8
%
 
12,100

 
1.4
%
 
9.46

 
 
 
 
5

Ahold Delhaize (4)
 
21

 
1,163,367

 
1.6
%
 
12,058

 
1.4
%
 
10.36

 
 
 
 
6

Burlington Stores, Inc.
 
21

 
1,219,473

 
1.7
%
 
11,786

 
1.3
%
 
9.66

 
 
 
 
7

Ross Stores, Inc. (5)
 
35

 
948,096

 
1.3
%
 
11,189

 
1.3
%
 
11.80

 
 
 
 
8

Albertson's Companies, Inc. (6)
 
17

 
965,736

 
1.3
%
 
11,154

 
1.2
%
 
11.55

 
 
 
 
9

L.A Fitness International, LLC
 
14

 
577,290

 
0.8
%
 
10,357

 
1.2
%
 
17.94

 
 
 
 
10

Bed Bath & Beyond, Inc. (7)
 
32

 
791,126

 
1.1
%
 
9,822

 
1.1
%
 
12.42

 
 
 
 
 
 
 
437

 
14,557,019

 
20.2
%
 
150,480

 
17.0
%
 
10.34

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11

PetSmart, Inc.
 
26

 
587,388

 
0.8
%
 
8,699

 
1.0
%
 
14.81

 
 
 
 
12

Big Lots, Inc.
 
37

 
1,238,620

 
1.7
%
 
8,309

 
0.9
%
 
6.71

 
 
 
 
13

PETCO Animal Supplies, Inc. (8)
 
33

 
447,440

 
0.6
%
 
7,889

 
0.9
%
 
17.63

 
 
 
 
14

Wal-Mart Stores, Inc. (9)
 
16

 
1,878,570

 
2.6
%
 
7,433

 
0.8
%
 
3.96

 
 
 
 
15

Kohl's Corporation
 
12

 
914,585

 
1.3
%
 
7,192

 
0.8
%
 
7.86

 
 
 
 
16

The Michaels Companies, Inc.
 
26

 
579,078

 
0.8
%
 
6,963

 
0.8
%
 
12.02

 
 
 
 
17

Party City Holdco Inc.
 
34

 
482,332

 
0.7
%
 
6,907

 
0.8
%
 
14.32

 
 
 
 
18

Best Buy Co., Inc.
 
13

 
537,660

 
0.8
%
 
6,793

 
0.8
%
 
12.63

 
 
 
 
19

Office Depot, Inc. (10)
 
27

 
592,765

 
0.8
%
 
6,507

 
0.7
%
 
10.98

 
 
 
 
20

Ulta Beauty, Inc.
 
24

 
274,429

 
0.4
%
 
6,148

 
0.7
%
 
22.40

 
 
 
 
 
 
 
685

 
22,089,886

 
30.7
%
 
223,320

 
25.2
%
 
10.11

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
21

Staples, Inc.
 
23

 
476,075

 
0.7
%
 
5,983

 
0.7
%
 
12.57

 
 
 
 
22

Five Below, Inc.
 
32

 
279,306

 
0.4
%
 
5,272

 
0.6
%
 
18.88

 
 
 
 
23

CVS Health
 
17

 
237,699

 
0.3
%
 
4,984

 
0.6
%
 
20.97

 
 
 
 
24

JOANN Stores, Inc.
 
21

 
415,255

 
0.6
%
 
4,732

 
0.5
%
 
11.40

 
 
 
 
25

Hobby Lobby Stores, Inc.
 
13

 
725,923

 
1.0
%
 
4,731

 
0.5
%
 
6.52

 
 
 
 
26

DICK's Sporting Goods, Inc. (11)
 
9

 
343,493

 
0.5
%
 
4,717

 
0.5
%
 
13.73

 
 
 
 
27

Southeastern Grocers (12)
 
12

 
568,562

 
0.8
%
 
4,546

 
0.5
%
 
8.00

 
 
 
 
28

Ascena Retail Group, Inc. (13)
 
39

 
245,455

 
0.3
%
 
4,532

 
0.5
%
 
18.46

 
 
 
 
29

The Home Depot, Inc.
 
6

 
556,632

 
0.8
%
 
4,486

 
0.5
%
 
8.06

 
 
 
 
30

Designer Brands Inc. (DSW)
 
14

 
268,691

 
0.4
%
 
4,420

 
0.5
%
 
16.45

 
 
 
 
31

Gap, Inc. (14)
 
15

 
236,332

 
0.3
%
 
4,273

 
0.5
%
 
18.08

 
 
 
 
32

JP Morgan Chase & Co.
 
29

 
104,702

 
0.1
%
 
4,095

 
0.5
%
 
39.11

 
 
 
 
33

Barnes & Noble, Inc.
 
10

 
224,673

 
0.3
%
 
4,086

 
0.5
%
 
18.19

 
 
 
 
34

H.E. Butt Grocery Company (15)
 
4

 
268,380

 
0.4
%
 
4,085

 
0.5
%
 
15.22

 
 
 
 
35

Sally Beauty Holdings, Inc. (16)
 
97

 
171,137

 
0.2
%
 
4,038

 
0.5
%
 
23.60

 
 
 
 
36

Giant Eagle, Inc
 
4

 
322,967

 
0.5
%
 
3,955

 
0.4
%
 
12.25

 
 
 
 
37

Wakefern Food Corporation (17)
 
6

 
307,332

 
0.4
%
 
3,891

 
0.4
%
 
12.66

 
 
 
 
38

24 Hour Fitness USA, Inc.
 
6

 
206,248

 
0.3
%
 
3,867

 
0.4
%
 
18.75

 
 
 
 
39

Rainbow, USA, Inc.
 
35

 
265,522

 
0.4
%
 
3,707

 
0.4
%
 
13.96

 
 
 
 
40

Mattress Firm, Inc.
 
29

 
176,578

 
0.2
%
 
3,661

 
0.4
%
 
20.73

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL TOP 40 RETAILERS
 
1,106

 
28,490,848

 
39.6
%
 
$
311,381

 
35.1
%
 
$
10.93

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Includes T.J. Maxx-39, Marshalls-36, HomeGoods-12, HomeSense-1 and Sierra Trading Post-1.
 
(7) Includes Bed Bath & Beyond-18, Harmon Face Values-6, Christmas Tree Shops-4,
 
(13) Includes dressbarn-15, Catherines-8, Justice-7, Lane Bryant-7,
 
 
(2) Includes Kroger-40, King Soopers-3, Harris Teeter-2, Ralphs-2, Dillons-2, Food 4 Less-1
 
 Cost Plus World Market-2 and buybuy Baby-2.
 
Ann Taylor-1 and Roz & Ali-1.
 
 
Pay Less-1 and Pick 'N Save-1.
 
(8) Includes PETCO-32 and Unleashed-1.
 
(14) Includes Old Navy-11, Gap Factory-3, and Banana Republic-1.
 
 
(3) Includes Dollar Tree-107, Family Dollar-18 and Deal$-1.
 
(9) Includes Supercenters-8, Discount Stores-4, Walmart Neighborhood Market-3,
 
(15) Includes H-E-B-3 and Central Market-1.
 
 
(4) Includes Vons-4, Acme-3, Albertsons-2, Jewel-Osco-2, Randalls-2, Tom Thumb-2,
 
 and Sam's Club-1.
 
(16) Includes Sally Beauty-90, Cosmoprof-6 and Macon Beauty Systems-1.
 
 
Shop & Save Market-1 and Star Market-1.
 
(10) Includes Office Depot-14 and OfficeMax-13.
 
(17) Includes PriceRite-3 and ShopRite-3.
 
 
(5) Includes Ross Dress for Less-32 and dd's Discounts-3.
 
(11) Includes DICK'S Sporting Goods-6 and Golf Galaxy-3.
 

 
(6) Includes Super Stop & Shop-7, Giant Food-5, Food Lion-4, Stop & Shop-2, Bottom Dollar Food-1,
 
(12) Includes Winn-Dixie-6, BI-LO-3, Harveys-2 and Fresco y Más-1.
 

 
 
Hannaford-1 and Tops Market-1. Excludes one lease where retailer is guarantor.
 

 

 

Supplemental Disclosure - Three Months Ended September 30, 2019
Page 29
logo.jpg




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

 
 
 
 
 
 
 
 
 
 
 
 
 
Tenant Improvements and Allowances PSF
 
Third Party Leasing Commissions PSF
 
Weighted Average Lease Term (years)
 
Comparable Only
 
 
 
 
 
Leases
 
GLA
 
New ABR
 
New ABR PSF
 
 
 
 
Leases
 
GLA
 
New ABR PSF
 
Old ABR PSF
 
Rent
Spread
 
 
 
TOTAL - NEW, RENEWAL & OPTION LEASES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 9/30/19
 
509

 
3,623,347

 
$
50,555

 
$
13.95

 
$
6.92

 
$
1.38

 
6.4

 
417

 
3,096,031

 
$
13.42

 
$
12.08

 
11.1
 
 
 
Three months ended 6/30/19
 
456

 
3,299,874

 
46,146

 
13.98

 
8.86

 
1.59

 
6.4

 
346

 
2,603,411

 
13.83

 
12.38

 
11.7
 
 
 
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
 
 
 
TOTAL - TTM
 
1,814

 
13,201,262

 
$
181,720

 
$
13.77

 
$
6.90

 
$
1.48

 
6.3

 
1,422

 
11,085,344

 
$
13.15

 
$
11.90

 
10.5

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NEW & RENEWAL LEASES ONLY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 9/30/19
 
438

 
2,252,432

 
$
37,464

 
$
16.63

 
$
11.12

 
$
2.22

 
7.0

 
346

 
1,725,116

 
$
16.49

 
$
14.55

 
13.3
 
 
 
Three months ended 6/30/19
 
392

 
2,213,228

 
32,976

 
14.90

 
13.12

 
2.37

 
7.1

 
282

 
1,516,765

 
15.06

 
13.22

 
13.9
 
 
 
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
 
 
 
TOTAL - TTM
 
1,556

 
8,293,670

 
$
131,506

 
$
15.86

 
$
10.96

 
$
2.36

 
6.9

 
1,164

 
6,177,752

 
$
15.48

 
$
13.73

 
12.7
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NEW LEASES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 9/30/19
 
160

 
948,964

 
$
14,833

 
$
15.63

 
$
23.97

 
$
5.07

 
9.4

 
71

 
433,903

 
$
13.98

 
$
10.71

 
30.5
 
 
 
Three months ended 6/30/19
 
176

 
1,026,355

 
15,954

 
15.54

 
26.63

 
4.89

 
9.5

 
72

 
416,917

 
16.19

 
12.42

 
30.4
 
 
 
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
 
 
 
TOTAL - TTM
 
636

 
3,605,592

 
$
58,288

 
$
16.17

 
$
23.00

 
$
5.31

 
9.2

 
260

 
1,627,162

 
$
14.96

 
$
11.40

 
31.2
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
RENEWAL LEASES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 9/30/19
 
278

 
1,303,468

 
$
22,631

 
$
17.36

 
$
1.77

 
$
0.15

 
5.3

 
275

 
1,291,213

 
$
17.33

 
$
15.84

 
9.4
 
 
 
Three months ended 6/30/19
 
216

 
1,186,873

 
17,021

 
14.34

 
1.44

 
0.19

 
4.9

 
210

 
1,099,848

 
14.63

 
13.52

 
8.2
 
 
 
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
 
 
 
TOTAL - TTM
 
920

 
4,688,078

 
$
73,218

 
$
15.62

 
$
1.70

 
$
0.09

 
5.2

 
904

 
4,550,590

 
$
15.66

 
$
14.57

 
7.5
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
OPTION LEASES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 9/30/19
 
71

 
1,370,915

 
$
13,091

 
$
9.55

 
$
—

 
$
—

 
5.3

 
71

 
1,370,915

 
$
9.55

 
$
8.97

 
6.5
 
 
 
Three months ended 6/30/19
 
64

 
1,086,646

 
13,171

 
12.12

 
0.18

 
—

 
5.0

 
64

 
1,086,646

 
12.12

 
11.21

 
8.1
 
 
 
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
 
 
 
TOTAL - TTM
 
258

 
4,907,592

 
$
50,214

 
$
10.23

 
$
0.04

 
$
—

 
5.1

 
258

 
4,907,592

 
$
10.23

 
$
9.59

 
6.7
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
LEASES BY ANCHOR AND SMALL SHOP
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended 9/30/19
 
 
 
TTM Ended 9/30/19
 
 
 
 
 
 
 
% 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
 
15
%
 
66
%
 
46
%
 
$
9.73

 
8.6
%
 
 
 
15
%
 
67
%
 
47
%
 
$
9.72

 
9.2
 
 
 
New & Renewal Leases Only
 
10
%
 
51
%
 
34
%
 
11.14

 
12.2
%
 
 
 
11
%
 
54
%
 
36
%
 
10.62

 
13.1
 
 
 
New Leases
 
 
 
10
%
 
54
%
 
37
%
 
10.84

 
45.2
%
 
 
 
11
%
 
55
%
 
38
%
 
11.07

 
40.9
 
 
 
Renewal Leases
 
 
 
10
%
 
49
%
 
32
%
 
11.38

 
4.3
%
 
 
 
11
%
 
53
%
 
35
%
 
10.26

 
4.2
 
 
 
Option Leases
 
 
 
46
%
 
91
%
 
80
%
 
8.43

 
5.6
%
 
 
 
42
%
 
90
%
 
77
%
 
8.81

 
5.8
 
 
Small Shop Leases (< 10,000 SF)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total - New, Renewal & Option Leases
 
85
%
 
34
%
 
54
%
 
$
22.21

 
13.6
%
 
 
 
85
%
 
33
%
 
53
%
 
$
22.02

 
11.9
 
 
 
New & Renewal Leases Only
 
90
%
 
49
%
 
66
%
 
22.32

 
14.0
%
 
 
 
89
%
 
46
%
 
64
%
 
21.94

 
12.4
 
 
 
New Leases
 
 
 
90
%
 
46
%
 
63
%
 
21.16

 
22.6
%
 
 
 
89
%
 
45
%
 
62
%
 
22.40

 
24.3
 
 
 
Renewal Leases
 
 
 
90
%
 
51
%
 
68
%
 
23.09

 
12.1
%
 
 
 
89
%
 
47
%
 
65
%
 
21.59

 
9.3
 
 
 
Option Leases
 
 
 
54
%
 
9
%
 
20
%
 
21.21

 
10.1
%
 
 
 
58
%
 
10
%
 
23
%
 
22.63

 
9.6
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Comparable leases only.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Excludes leases executed for terms of less than one year.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ABR PSF includes the GLA of lessee-owned leasehold improvements.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Reflects portfolio statistics as reported for the specified period.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2019
Page 30
logo.jpg




NEW LEASE NET EFFECTIVE RENT & LEASES SIGNED BUT NOT YET COMMENCED
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NEW LEASE NET EFFECTIVE RENT
NEW LEASE NET EFFECTIVE RENT
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Twelve Months Ended
Three Months Ended
 
 
 
 
 
 
9/30/19
 
9/30/19
 
6/30/19
 
3/31/19
 
12/31/18
 
9/30/18
 
 
 
NEW LEASES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average over lease term:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Base rent
 
$ 17.56
 
$ 16.70
 
$ 17.50
 
$ 19.81

 
$ 16.81
 
$ 15.66
 
 
 
 
Tenant improvements and allowances
 
(2.39)
 
(2.48)
 
(2.66)
 
(2.25)

 
(2.10)
 
(2.38)
 
 
 
 
Third party leasing commissions
 
(0.55)
 
(0.53)
 
(0.49)
 
(0.65)

 
(0.57)
 
(0.48)
 
 
 
NET EFFECTIVE RENT BEFORE TENANT SPECIFIC LANDLORD WORK
 
14.62
 
13.69
 
14.35
 
16.91

 
14.14
 
12.80
 
 
 
 
Tenant specific landlord work (1)
 
(0.98)
 
(1.10)
 
(0.75)
 
(0.99)

 
(1.11)
 
(0.55)
 
 
 
NET EFFECTIVE RENT
 
$ 13.64
 
$ 12.59
 
$ 13.60
 
$ 15.92

 
$ 13.03
 
$ 12.25
 
 
 
Net effective rent before tenant specific landlord work /
 

 

 

 


 

 

 
 
 
base rent
 
83%
 
82%
 
82%
 
85%

 
84%
 
82%
 
 
 
Net effective rent / base rent
 
78%
 
75%
 
78%
 
80%

 
77%
 
78%
 
 
 
Weighted average term (years)
 
9.2
 
9.4
 
9.5
 
8.6

 
9.2
 
9.1
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
PERCENT OF TOTAL NET EFFECTIVE RENT BY ANCHOR AND SMALL SHOP
 
 
 
 
 
 
 
 
 
 
 
 
 
 
≥ 10,000 SF
 
33%
 
34%
 
35%
 
27
%
 
36%
 
39%
 
 
 
 
< 10,000 SF
 
67%
 
66%
 
65%
 
73
%
 
64%
 
61%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
LEASES SIGNED BUT NOT YET COMMENCED
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of 9/30/19:
 
Leases
 
GLA
 
ABR
 
ABR PSF
 
 
 
 
 
 
 
 
≥ 10,000 SF
 
62
 
1,901,921
 
$ 21,986
 
$ 11.56

 
 
 
 
 
 
 
 
< 10,000 SF
 
311
 
1,001,326
 
25,565
 
25.53

 
 
 
 
 
 
 
 
TOTAL
 
373
 
2,903,247
 
$ 47,551
 
$ 16.38

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Represents base building costs funded through tenant allowances.
 
 
 
 
 
 
 
ABR PSF includes the GLA of lessee owned leasehold improvements.
 
 
 
 
 
 
 
 
 
 
 
 
 
Reflects portfolio statistics as reported for the specified period.
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2019
Page 31
logo.jpg




LEASE EXPIRATION SCHEDULE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ASSUMES NO EXERCISE OF RENEWAL OPTIONS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL PORTFOLIO
 
 
SPACES ≥ 10,000 SF
 
 
SPACES < 10,000 SF
 
 
 
 
Number
 
 
 
% of
 
% of
 
 
 
ABR PSF
 
 
Number
 
 
 
% of
 
% of
 
 
 
ABR PSF
 
 
Number
 
 
 
% of
 
% of
 
 
 
ABR PSF
 
 
 
 
of
 
Leased
 
Leased
 
In-Place
 
In-place
 
at
 
 
of
 
Leased
 
Leased
 
In-Place
 
In-place
 
at
 
 
of
 
Leased
 
Leased
 
In-Place
 
In-place
 
at
 
 
 
 
Leases
 
GLA
 
GLA
 
ABR
 
ABR PSF
 
Expiration
 
 
Leases
 
GLA
 
GLA
 
ABR
 
ABR PSF
 
Expiration
 
 
Leases
 
GLA
 
GLA
 
ABR
 
ABR PSF
 
Expiration
 
 
M-M
 
312

 
872,499

 
1.3
 
1.5
%
 
$
14.92

 
$
14.92

 
 
13

 
223,379

 
0.5
%
 
0.4
%
 
$
9.50

 
$
9.50

 
 
299

 
649,120

 
3.5
%
 
2.6
%
 
$
16.79

 
$
16.79

 
 
2019
 
311

 
1,312,741

 
2.0
 
2.2
%
 
14.90

 
14.90

 
 
16

 
512,264

 
1.1
%
 
0.8
%
 
7.94

 
7.94

 
 
295

 
800,477

 
4.3
%
 
3.7
%
 
19.35

 
19.35

 
 
2020
 
1,239

 
7,642,186

 
11.6
 
10.6
%
 
12.40

 
12.42

 
 
170

 
4,926,115

 
10.5
%
 
8.4
%
 
8.18

 
8.19

 
 
1,069

 
2,716,071

 
14.4
%
 
13.2
%
 
20.05

 
20.10

 
 
2021
 
1,188

 
8,602,112

 
13.1
 
12.4
%
 
12.95

 
13.08

 
 
185

 
5,963,976

 
12.7
%
 
11.8
%
 
9.52

 
9.54

 
 
1,003

 
2,638,136

 
14.0
%
 
13.2
%
 
20.72

 
21.08

 
 
2022
 
1,097

 
7,873,582

 
12.0
 
12.1
%
 
13.67

 
13.98

 
 
186

 
5,376,684

 
11.4
%
 
11.1
%
 
9.87

 
9.93

 
 
911

 
2,496,898

 
13.3
%
 
13.2
%
 
21.85

 
22.70

 
 
2023
 
997

 
7,257,744

 
11.1
 
11.1
%
 
13.66

 
14.04

 
 
169

 
4,990,376

 
10.6
%
 
10.1
%
 
9.69

 
9.75

 
 
828

 
2,267,368

 
12.1
%
 
12.3
%
 
22.39

 
23.50

 
 
2024
 
955

 
8,943,574

 
13.6
 
12.7
%
 
12.64

 
13.12

 
 
202

 
6,742,957

 
14.3
%
 
13.7
%
 
9.71

 
9.83

 
 
753

 
2,200,617

 
11.7
%
 
11.5
%
 
21.59

 
23.20

 
 
2025
 
419

 
4,815,803

 
7.3
 
7.0
%
 
13.00

 
14.01

 
 
117

 
3,796,166

 
8.1
%
 
8.5
%
 
10.74

 
11.42

 
 
302

 
1,019,637

 
5.4
%
 
5.3
%
 
21.39

 
23.65

 
 
2026
 
324

 
3,314,225

 
5.1
 
5.3
%
 
14.39

 
15.88

 
 
82

 
2,493,383

 
5.3
%
 
5.9
%
 
11.28

 
12.14

 
 
242

 
820,842

 
4.4
%
 
4.7
%
 
23.82

 
27.25

 
 
2027
 
331

 
2,973,089

 
4.5
 
5.1
%
 
15.37

 
17.28

 
 
71

 
2,117,204

 
4.5
%
 
5.3
%
 
11.99

 
13.17

 
 
260

 
855,885

 
4.5
%
 
4.9
%
 
23.74

 
27.46

 
 
2028
 
301

 
2,726,634

 
4.1
 
4.9
%
 
15.98

 
17.88

 
 
70

 
1,949,773

 
4.2
%
 
4.8
%
 
11.89

 
12.74

 
 
231

 
776,861

 
4.1
%
 
5.0
%
 
26.25

 
30.78

 
 
2029+
 
673

 
9,425,632

 
14.3
 
15.1
%
 
14.31

 
16.26

 
 
235

 
7,870,779

 
16.8
%
 
19.2
%
 
11.67

 
13.09

 
 
438

 
1,554,853

 
8.3
%
 
10.4
%
 
27.67

 
32.29

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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
 
312

 
872,499

 
1.3
 
1.5
%
 
$
14.92

 
$
14.92

 
 
13

 
223,379

 
0.5
%
 
0.5
%
 
$
9.50

 
$
9.50

 
 
299

 
649,120

 
3.5
%
 
2.6
%
 
$
16.79

 
$
16.79

 
 
2019
 
246

 
908,888

 
1.4
 
1.5
%
 
14.66

 
14.66

 
 
10

 
299,482

 
0.6
%
 
0.4
%
 
6.35

 
6.35

 
 
236

 
609,406

 
3.2
%
 
2.8
%
 
18.75

 
18.75

 
 
2020
 
908

 
3,543,369

 
5.4
 
5.7
%
 
14.34

 
14.38

 
 
59

 
1,503,327

 
3.2
%
 
2.4
%
 
7.73

 
7.73

 
 
849

 
2,040,042

 
10.9
%
 
9.5
%
 
19.21

 
19.28

 
 
2021
 
827

 
2,650,638

 
4.0
 
5.2
%
 
17.61

 
17.96

 
 
40

 
818,172

 
1.8
%
 
1.9
%
 
10.86

 
10.97

 
 
787

 
1,832,466

 
9.7
%
 
9.1
%
 
20.63

 
21.08

 
 
2022
 
745

 
2,447,546

 
3.7
 
5.1
%
 
18.50

 
19.30

 
 
39

 
745,882

 
1.6
%
 
1.7
%
 
11.03

 
11.28

 
 
706

 
1,701,664

 
9.0
%
 
9.0
%
 
21.77

 
22.82

 
 
2023
 
662

 
2,374,293

 
3.6
 
4.9
%
 
18.49

 
19.51

 
 
44

 
867,268

 
1.8
%
 
2.1
%
 
11.34

 
11.62

 
 
618

 
1,507,025

 
8.0
%
 
8.2
%
 
22.61

 
24.05

 
 
2024
 
634

 
2,776,288

 
4.2
 
4.9
%
 
15.92

 
16.95

 
 
50

 
1,264,689

 
2.7
%
 
2.5
%
 
9.62

 
9.75

 
 
584

 
1,511,599

 
8.0
%
 
7.7
%
 
21.19

 
22.98

 
 
2025
 
337

 
2,172,254

 
3.3
 
3.5
%
 
14.46

 
15.94

 
 
52

 
1,365,774

 
2.9
%
 
2.9
%
 
10.21

 
11.20

 
 
285

 
806,480

 
4.3
%
 
4.3
%
 
21.65

 
23.95

 
 
2026
 
305

 
1,879,856

 
2.9
 
3.1
%
 
14.72

 
16.56

 
 
35

 
1,005,651

 
2.1
%
 
1.7
%
 
7.91

 
8.70

 
 
270

 
874,205

 
4.7
%
 
4.8
%
 
22.56

 
25.60

 
 
2027
 
338

 
2,105,695

 
3.2
 
3.7
%
 
15.73

 
17.85

 
 
57

 
1,267,987

 
2.7
%
 
3.0
%
 
11.50

 
12.54

 
 
281

 
837,708

 
4.5
%
 
4.5
%
 
22.14

 
25.88

 
 
2028
 
303

 
1,617,118

 
2.5
 
3.2
%
 
17.72

 
20.16

 
 
33

 
783,197

 
1.7
%
 
1.8
%
 
11.19

 
12.12

 
 
270

 
833,921

 
4.4
%
 
4.8
%
 
23.86

 
27.72

 
 
2029+
 
2,530

 
42,411,377

 
64.5
 
57.7
%
 
12.14

 
15.60

 
 
1,084

 
36,818,248

 
78.4
%
 
79.1
%
 
10.31

 
13.13

 
 
1,446

 
5,593,129

 
29.8
%
 
32.7
%
 
24.20

 
31.83

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

 
By GLA
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Twelve Months Ended 9/30/19
 
 
 
77.8%
 
80.5%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2019
Page 32
logo.jpg




PROPERTIES BY LARGEST US MSAs
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent of
 
 
 
 
 
 
 
 
 
Number of
 
 
 
Percent
 
Percent
 
 
 
 
 
Number of
 
Percent
 
Percent
 
 
 
Largest US MSAs by 2018 Population
 
Properties
 
 GLA
 
Billed
 
Leased
 
 ABR
 
 ABR PSF
 
Properties
 
of GLA
 
of ABR
 
 
1

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

 
3,546,603

 
90.6
%
 
95.1
%
 
$
69,311

 
$
20.73

 
7.1
%
 
5.0
%
 
7.8
%
 
 
2

Los Angeles-Long Beach-Anaheim, CA
 
10

 
1,706,614

 
94.7
%
 
96.9
%
 
33,485

 
22.34

 
2.4
%
 
2.4
%
 
3.7
%
 
 
3

Chicago-Naperville-Elgin, IL-IN-WI
 
14

 
3,516,675

 
80.3
%
 
84.5
%
 
39,809

 
14.18

 
3.4
%
 
4.9
%
 
4.5
%
 
 
4

Dallas-Fort Worth-Arlington, TX
 
13

 
2,651,967

 
85.8
%
 
91.7
%
 
41,015

 
17.59

 
3.2
%
 
3.7
%
 
4.6
%
 
 
5

Houston-The Woodlands-Sugar Land, TX
 
30

 
4,061,576

 
90.8
%
 
94.8
%
 
47,019

 
12.79

 
7.3
%
 
5.7
%
 
5.3
%
 
 
6

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

 
451,260

 
78.9
%
 
85.1
%
 
5,054

 
13.16

 
0.7
%
 
0.6
%
 
0.6
%
 
 
7

Miami-Fort Lauderdale-West Palm Beach, FL
 
9

 
1,508,709

 
79.9
%
 
82.4
%
 
18,639

 
15.14

 
2.2
%
 
2.1
%
 
2.1
%
 
 
8

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

 
4,215,207

 
84.8
%
 
88.3
%
 
60,463

 
18.79

 
5.6
%
 
5.9
%
 
6.8
%
 
 
9

Atlanta-Sandy Springs-Roswell, GA
 
23

 
3,500,868

 
86.5
%
 
88.4
%
 
35,680

 
11.90

 
5.6
%
 
4.9
%
 
4.0
%
 
 
10

Boston-Cambridge-Newton, MA-NH
 
6

 
712,829

 
87.2
%
 
88.2
%
 
8,492

 
13.57

 
1.5
%
 
1.0
%
 
1.0
%
 
 
 
Top 10 Largest US MSAs by Population
 
160

 
25,872,308

 
86.6
%
 
90.3
%
 
358,967

 
16.23

 
39.0
%
 
36.2
%
 
40.4
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11

Phoenix-Mesa-Scottsdale, AZ
 
0

 
—

 
—
%
 
—
%
 
—

 
—

 
—
%
 
—
%
 
—
%
 
 
12

San Francisco-Oakland-Hayward, CA
 
2

 
506,531

 
98.3
%
 
99.4
%
 
11,431

 
28.06

 
0.5
%
 
0.7
%
 
1.3
%
 
 
13

Riverside-San Bernardino-Ontario, CA
 
4

 
500,053

 
92.2
%
 
94.0
%
 
8,362

 
20.31

 
1.0
%
 
0.7
%
 
0.9
%
 
 
14

Detroit-Warren-Dearborn, MI
 
8

 
1,431,286

 
88.6
%
 
94.3
%
 
15,917

 
12.81

 
2.0
%
 
2.0
%
 
1.8
%
 
 
15

Seattle-Tacoma-Bellevue, WA
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
16

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

 
1,194,625

 
88.4
%
 
91.8
%
 
14,165

 
14.08

 
2.0
%
 
1.7
%
 
1.6
%
 
 
17

San Diego-Carlsbad, CA
 
3

 
658,209

 
96.2
%
 
99.0
%
 
14,716

 
23.08

 
0.7
%
 
0.9
%
 
1.6
%
 
 
18

Tampa-St. Petersburg-Clearwater, FL
 
12

 
1,900,951

 
88.4
%
 
90.7
%
 
24,154

 
15.41

 
2.9
%
 
2.7
%
 
2.7
%
 
 
19

Denver-Aurora-Lakewood, CO
 
6

 
1,317,557

 
87.5
%
 
89.5
%
 
16,130

 
14.78

 
1.5
%
 
1.8
%
 
1.8
%
 
 
20

St. Louis, MO-IL
 
2

 
209,036

 
95.4

 
96.0

 
2,144

 
10.85

 
0.5

 
0.3

 
0.2

 
 
 
Top 20 Largest US MSAs by Population
 
205

 
33,590,556

 
87.4
%
 
90.9
%
 
465,986

 
16.25

 
50.1
%
 
47.0
%
 
52.3
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
21

Baltimore-Columbia-Towson, MD
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
22

Orlando-Kissimmee-Sanford, FL
 
5

 
808,412

 
89.6
%
 
91.7
%
 
16,742

 
22.79

 
1.2
%
 
1.1
%
 
1.9
%
 
 
23

Charlotte-Concord-Gastonia, NC-SC
 
5

 
1,638,366

 
91.7
%
 
94.4
%
 
15,650

 
11.09

 
1.2
%
 
2.3
%
 
1.8
%
 
 
24

San Antonio-New Braunfels, TX
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
25

Portland-Vancouver-Hillsboro, OR-WA
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
26

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

 
103,695

 
51.8
%
 
51.8
%
 
1,340

 
24.93

 
0.2
%
 
0.1
%
 
0.2
%
 
 
27

Pittsburgh, PA
 
1

 
199,079

 
100.0
%
 
100.0
%
 
1,966

 
10.95

 
0.2
%
 
0.3
%
 
0.2
%
 
 
28

Las Vegas-Henderson-Paradise, NV
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
29

Cincinnati, OH-KY-IN
 
7

 
1,932,349

 
87.3
%
 
90.9
%
 
21,762

 
15.95

 
1.7
%
 
2.7
%
 
2.4
%
 
 
30

Austin-Round Rock, TX
 
1

 
169,405

 
95.1
%
 
98.5
%
 
2,102

 
12.60

 
0.2
%
 
0.2
%
 
0.2
%
 
 
31

Kansas City, MO-KS
 
4

 
608,649

 
91.4
%
 
92.4
%
 
4,672

 
8.45

 
1.0
%
 
0.9
%
 
0.5
%
 
 
32

Columbus, OH
 
3

 
435,069

 
85.2
%
 
87.3
%
 
3,802

 
10.43

 
0.7
%
 
0.6
%
 
0.4
%
 
 
33

Cleveland-Elyria, OH
 
3

 
905,086

 
83.5
%
 
84.0
%
 
9,498

 
12.57

 
0.7
%
 
1.3
%
 
1.1
%
 
 
34

Indianapolis-Carmel-Anderson, IN
 
3

 
833,921

 
85.2
%
 
86.1
%
 
7,485

 
10.47

 
0.7
%
 
1.2
%
 
0.8
%
 

Supplemental Disclosure - Three Months Ended September 30, 2019
Page 33
logo.jpg




PROPERTIES BY LARGEST US MSAs
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent of
 
 
 
 
 
 
 
 
 
Number of
 
 
 
Percent
 
Percent
 
 
 
 
 
Number of
 
Percent
 
Percent
 
 
 
Largest US MSAs by 2018 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

 
91.6
%
 
97.9
%
 
9,004

 
11.57

 
1.0
%
 
1.1
%
 
1.0
%
 
 
37

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

 
150,300

 
93.8
%
 
97.7
%
 
2,858

 
21.50

 
0.2
%
 
0.2
%
 
0.3
%
 
 
38

Providence-Warwick, RI-MA
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
39

Milwaukee-Waukesha-West Allis, WI
 
4

 
686,770

 
75.8
%
 
79.0
%
 
6,210

 
11.44

 
1.0
%
 
1.0
%
 
0.7
%
 
 
40

Jacksonville, FL
 
3

 
686,621

 
92.5
%
 
93.4
%
 
6,978

 
11.31

 
0.7
%
 
1.0
%
 
0.8
%
 
 
41

Oklahoma City, OK
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
42

Raleigh, NC
 
2

 
291,026

 
97.5
%
 
98.2
%
 
3,790

 
13.37

 
0.5
%
 
0.4
%
 
0.4
%
 
 
43

Memphis, TN-MS-AR
 
1

 
652,349

 
92.3
%
 
95.4
%
 
9,292

 
15.46

 
0.2
%
 
0.9
%
 
1.0
%
 
 
44

Richmond, VA
 
2

 
226,458

 
92.7
%
 
94.3
%
 
3,297

 
15.43

 
0.5
%
 
0.3
%
 
0.4
%
 
 
45

Louisville/Jefferson County, KY-IN
 
4

 
707,728

 
95.8
%
 
97.5
%
 
7,386

 
11.10

 
1.0
%
 
1.0
%
 
0.8
%
 
 
46

New Orleans-Metairie, LA
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
47

Salt Lake City, UT
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
48

Hartford-West Hartford-East Hartford, CT
 
3

 
584,075

 
86.5
%
 
88.4
%
 
8,749

 
16.95

 
0.7
%
 
0.8
%
 
1.0
%
 
 
49

Birmingham-Hoover, AL
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
50

Buffalo-Cheektowaga-Niagara Falls, NY
 
0

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
 
Top 50 Largest US MSAs by Population
 
262

 
46,007,255

 
87.8
%
 
91.0
%
 
608,569

 
15.48

 
64.1
%
 
64.3
%
 
68.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
MSAs Ranked 51 - 100 by Population
 
49

 
8,670,272

 
90.4
%
 
94.2
%
 
97,104

 
13.06

 
12.0
%
 
12.1
%
 
10.9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other MSAs
 
98

 
16,862,966

 
90.0
%
 
93.3
%
 
187,324

 
12.95

 
23.9
%
 
23.6
%
 
21.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL
 
409

 
71,540,493

 
88.6
%
 
91.9
%
 
$
892,997

 
$
14.59

 
100.0
%
 
100.0
%
 
100.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




Supplemental Disclosure - Three Months Ended September 30, 2019
Page 34
logo.jpg




LARGEST MSAs BY ABR
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent of
 
 
 
 
 
 
 
 
 
 
 
Number of
 
 
 
Percent
 
Percent
 
 
 
 
 
Number of
 
Percent
 
Percent
 
 
 
Largest MSAs by ABR
 
MSA Rank
 
Properties
 
 GLA
 
Billed
 
Leased
 
 ABR
 
 ABR PSF
 
Properties
 
of GLA
 
of ABR
 
 
1

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

 
3,546,603

 
90.6
 
95.1
 
$
69,311

 
$
20.73

 
7.1
 
5.0
 
7.8
 
 
2

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

 
4,215,207

 
84.8
 
88.3
 
60,463

 
18.79

 
5.6
 
5.9
 
6.8
 
 
3

Houston-The Woodlands-Sugar Land, TX
 
5
 
30

 
4,061,576

 
90.8
 
94.8
 
47,019

 
12.79

 
7.3
 
5.7
 
5.3
 
 
4

Dallas-Fort Worth-Arlington, TX
 
4
 
13

 
2,651,967

 
85.8
 
91.7
 
41,015

 
17.59

 
3.2
 
3.7
 
4.6
 
 
5

Chicago-Naperville-Elgin, IL-IN-WI
 
3
 
14

 
3,516,675

 
80.3
 
84.5
 
39,809

 
14.18

 
3.4
 
4.9
 
4.5
 
 
6

Atlanta-Sandy Springs-Roswell, GA
 
9
 
23

 
3,500,868

 
86.5
 
88.4
 
35,680

 
11.90

 
5.6
 
4.9
 
4.0
 
 
7

Los Angeles-Long Beach-Anaheim, CA
 
2
 
10

 
1,706,614

 
94.7
 
96.9
 
33,485

 
22.34

 
2.4
 
2.4
 
3.7
 
 
8

Tampa-St. Petersburg-Clearwater, FL
 
18
 
12

 
1,900,951

 
88.4
 
90.7
 
24,154

 
15.41

 
2.9
 
2.7
 
2.7
 
 
9

Cincinnati, OH-KY-IN
 
29
 
7

 
1,932,349

 
87.3
 
90.9
 
21,762

 
15.95

 
1.7
 
2.7
 
2.4
 
 
10

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

 
1,508,709

 
79.9
 
82.4
 
18,639

 
15.14

 
2.2
 
2.1
 
2.1
 
 
 
10 Largest MSAs by ABR
 
—
 
170

 
28,541,519

 
86.9
 
90.5
 
391,337

 
16.28

 
41.4
 
40.0
 
43.9
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11

Orlando-Kissimmee-Sanford, FL
 
22
 
5

 
808,412

 
89.6
 
91.7
 
16,742

 
22.79

 
1.2
 
1.1
 
1.9
 
 
12

Denver-Aurora-Lakewood, CO
 
19
 
6

 
1,317,557

 
87.5
 
89.5
 
16,130

 
14.78

 
1.5
 
1.8
 
1.8
 
 
13

Detroit-Warren-Dearborn, MI
 
14
 
8

 
1,431,286

 
88.6
 
94.3
 
15,917

 
12.81

 
2.0
 
2.0
 
1.8
 
 
14

Charlotte-Concord-Gastonia, NC-SC
 
23
 
5

 
1,638,366

 
91.7
 
94.4
 
15,650

 
11.09

 
1.2
 
2.3
 
1.8
 
 
15

San Diego-Carlsbad, CA
 
17
 
3

 
658,209

 
96.2
 
99.0
 
14,716

 
23.08

 
0.7
 
0.9
 
1.6
 
 
16

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

 
1,194,625

 
88.4
 
91.8
 
14,165

 
14.08

 
2.0
 
1.7
 
1.6
 
 
17

Ann Arbor, MI
 
144
 
3

 
818,765

 
94.4
 
95.7
 
12,106

 
15.55

 
0.7
 
1.1
 
1.4
 
 
18

Naples-Immokalee-Marco Island, FL
 
142
 
4

 
780,327

 
78.4
 
80.2
 
11,632

 
19.11

 
1.0
 
1.1
 
1.3
 
 
19

San Francisco-Oakland-Hayward, CA
 
12
 
2

 
506,531

 
98.3
 
99.4
 
11,431

 
28.06

 
0.5
 
0.7
 
1.3
 
 
20

Binghamton, NY
 
191
 
4

 
751,572

 
98.6
 
98.6
 
10,460

 
14.11

 
1.0
 
1.1
 
1.2
 
 
 
20 Largest MSAs by ABR
 
—
 
218

 
38,447,169

 
87.8
 
91.1
 
530,286

 
16.22

 
53.2
 
53.8
 
59.6
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
21

Allentown-Bethlehem-Easton, PA-NJ
 
69
 
3

 
829,432

 
92.3
 
97.0
 
10,326

 
14.14

 
0.7
 
1.2
 
1.2
 
 
22

Vallejo-Fairfield, CA
 
121
 
1

 
519,223

 
84.7
 
94.0
 
9,649

 
19.95

 
0.2
 
0.7
 
1.1
 
 
23

Cleveland-Elyria, OH
 
33
 
3

 
905,086

 
83.5
 
84.0
 
9,498

 
12.57

 
0.7
 
1.3
 
1.1
 
 
24

Memphis, TN-MS-AR
 
43
 
1

 
652,349

 
92.3
 
95.4
 
9,292

 
15.46

 
0.2
 
0.9
 
1.0
 
 
25

Port St. Lucie, FL
 
110
 
5

 
691,237

 
80.6
 
89.8
 
9,283

 
15.06

 
1.2
 
1.0
 
1.0
 
 
26

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

 
797,341

 
91.6
 
97.9
 
9,004

 
11.57

 
1.0
 
1.1
 
1.0
 
 
27

Hartford-West Hartford-East Hartford, CT
 
48
 
3

 
584,075

 
86.5
 
88.4
 
8,749

 
16.95

 
0.7
 
0.8
 
1.0
 
 
28

Boston-Cambridge-Newton, MA-NH
 
10
 
6

 
712,829

 
87.2
 
88.2
 
8,492

 
13.57

 
1.5
 
1.0
 
1.0
 
 
29

North Port-Sarasota-Bradenton, FL
 
72
 
5

 
730,159

 
84.9
 
93.6
 
8,431

 
12.41

 
1.2
 
1.0
 
0.9
 
 
30

Riverside-San Bernardino-Ontario, CA
 
13
 
4

 
500,053

 
92.2
 
94.0
 
8,362

 
20.31

 
1.0
 
0.7
 
0.9
 
 
31

Indianapolis-Carmel-Anderson, IN
 
34
 
3

 
833,921

 
85.2
 
86.1
 
7,485

 
10.47

 
0.7
 
1.2
 
0.8
 
 
32

Louisville/Jefferson County, KY-IN
 
45
 
4

 
707,728

 
95.8
 
97.5
 
7,386

 
11.10

 
1.0
 
1.0
 
0.8
 
 
33

New Haven-Milford, CT
 
66
 
5

 
546,407

 
92.5
 
93.4
 
7,209

 
14.13

 
1.2
 
0.8
 
0.8
 
 
34

Jacksonville, FL
 
40
 
3

 
686,621

 
92.5
 
93.4
 
6,978

 
11.31

 
0.7
 
1.0
 
0.8
 

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LARGEST MSAs BY ABR
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent of
 
 
 
 
 
 
 
 
 
 
 
Number of
 
 
 
Percent
 
Percent
 
 
 
 
 
Number of
 
Percent
 
Percent
 
 
 
Largest MSAs by ABR
 
MSA Rank
 
Properties
 
 GLA
 
Billed
 
Leased
 
 ABR
 
 ABR PSF
 
Properties
 
of GLA
 
of ABR
 
 
35

Norwich-New London, CT
 
182
 
2

 
433,532

 
88.2
 
94.6
 
6,606

 
16.11

 
0.5
 
0.6
 
0.7
 
 
36

Milwaukee-Waukesha-West Allis, WI
 
39
 
4

 
686,770

 
75.8
 
79.0
 
6,210

 
11.44

 
1.0
 
1.0
 
0.7
 
 
37

Worcester, MA-CT
 
57
 
3

 
517,810

 
74.1
 
96.3
 
5,799

 
13.71

 
0.7
 
0.7
 
0.6
 
 
38

College Station-Bryan, TX
 
187
 
4

 
491,322

 
92.2
 
92.5
 
5,776

 
15.35

 
1.0
 
0.7
 
0.6
 
 
39

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

 
619,139

 
96.0
 
96.0
 
5,615

 
22.45

 
0.5
 
0.9
 
0.6
 
 
40

Wilmington, NC
 
165
 
2

 
379,107

 
96.9
 
98.2
 
5,453

 
14.80

 
0.5
 
0.5
 
0.6
 
 
41

Winston-Salem, NC
 
84
 
3

 
437,761

 
87.1
 
91.2
 
5,188

 
13.63

 
0.7
 
0.6
 
0.6
 
 
42

Greensboro-High Point, NC
 
75
 
1

 
406,768

 
88.6
 
88.6
 
5,126

 
14.23

 
0.2
 
0.6
 
0.6
 
 
43

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

 
451,260

 
78.9
 
85.1
 
5,054

 
13.16

 
0.7
 
0.6
 
0.6
 
 
44

Kansas City, MO-KS
 
31
 
4

 
608,649

 
91.4
 
92.4
 
4,672

 
8.45

 
1.0
 
0.9
 
0.5
 
 
45

Dayton, OH
 
73
 
2

 
351,898

 
97.7
 
97.7
 
4,585

 
13.90

 
0.5
 
0.5
 
0.5
 
 
46

Oxnard-Thousand Oaks-Ventura, CA
 
67
 
2

 
316,798

 
92.5
 
95.0
 
4,567

 
15.74

 
0.5
 
0.4
 
0.5
 
 
47

Manchester-Nashua, NH
 
129
 
2

 
347,947

 
95.4
 
98.0
 
4,490

 
21.28

 
0.5
 
0.5
 
0.5
 
 
48

Charleston-North Charleston, SC
 
74
 
2

 
498,871

 
89.6
 
96.2
 
4,437

 
9.35

 
0.5
 
0.7
 
0.5
 
 
49

Boulder, CO
 
155
 
1

 
278,419

 
96.0
 
96.0
 
4,393

 
16.43

 
0.2
 
0.4
 
0.5
 
 
50

Fresno, CA
 
54
 
1

 
261,344

 
98.3
 
98.3
 
4,070

 
15.85

 
0.2
 
0.4
 
0.5
 
 
 
50 Largest MSAs by ABR
 
—
 
306

 
55,231,025

 
88.1
 
91.5
 
732,471

 
15.49

 
74.4
 
77.5
 
82.1
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
51

Pittsfield, MA
 
325
 
1

 
436,805

 
98.6
 
100.0
 
4,064

 
21.06

 
0.2
 
0.6
 
0.5
 
 
52

Spartanburg, SC
 
151
 
1

 
360,277

 
90.7
 
90.7
 
4,051

 
13.03

 
0.2
 
0.5
 
0.5
 
 
53

Columbus, OH
 
32
 
3

 
435,069

 
85.2
 
87.3
 
3,802

 
10.43

 
0.7
 
0.6
 
0.4
 
 
54

Raleigh, NC
 
42
 
2

 
291,026

 
97.5
 
98.2
 
3,790

 
13.37

 
0.5
 
0.4
 
0.4
 
 
55

Greenville-Anderson-Mauldin, SC
 
61
 
2

 
220,723

 
96.0
 
98.3
 
3,743

 
17.67

 
0.5
 
0.3
 
0.4
 
 
56

Panama City, FL
 
222
 
2

 
397,492

 
93.9
 
97.8
 
3,699

 
9.51

 
0.5
 
0.6
 
0.4
 
 
57

Mobile, AL
 
130
 
1

 
463,848

 
88.8
 
88.8
 
3,625

 
8.98

 
0.2
 
0.6
 
0.4
 
 
58

Bakersfield, CA
 
62
 
1

 
240,068

 
95.7
 
96.3
 
3,488

 
15.37

 
0.2
 
0.3
 
0.4
 
 
59

Atlantic City-Hammonton, NJ
 
185
 
1

 
179,199

 
99.1
 
99.1
 
3,380

 
19.03

 
0.2
 
0.3
 
0.4
 
 
60

Richmond, VA
 
44
 
2

 
226,458

 
92.7
 
94.3
 
3,297

 
15.43

 
0.5
 
0.3
 
0.4
 
 
61

Odessa, TX
 
263
 
1

 
372,534

 
98.1
 
100.0
 
3,290

 
13.97

 
0.2
 
0.5
 
0.4
 
 
62

Hilton Head Island-Bluffton-Beaufort, SC
 
207
 
2

 
230,352

 
92.7
 
94.3
 
3,247

 
14.95

 
0.5
 
0.3
 
0.4
 
 
63

Des Moines-West Des Moines, IA
 
87
 
2

 
512,825

 
97.1
 
97.1
 
3,172

 
6.43

 
0.5
 
0.7
 
0.4
 
 
64

Greenville, NC
 
237
 
1

 
233,153

 
93.5
 
94.0
 
3,017

 
13.76

 
0.2
 
0.3
 
0.3
 
 
65

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

 
150,300

 
93.8
 
97.7
 
2,858

 
21.50

 
0.2
 
0.2
 
0.3
 
 
66

Springfield, MA
 
91
 
2

 
299,898

 
96.1
 
96.1
 
2,841

 
12.54

 
0.5
 
0.4
 
0.3
 
 
67

Roanoke, VA
 
161
 
2

 
315,008

 
97.0
 
97.5
 
2,689

 
10.90

 
0.5
 
0.4
 
0.3
 
 
68

Blacksburg-Christiansburg-Radford, VA
 
232
 
1

 
181,055

 
97.7
 
97.7
 
2,664

 
15.32

 
0.2
 
0.3
 
0.3
 
 
69

Savannah, GA
 
137
 
2

 
221,381

 
77.0
 
92.9
 
2,646

 
12.86

 
0.5
 
0.3
 
0.3
 
 
70

Fort Wayne, IN
 
123
 
2

 
248,451

 
84.8
 
84.8
 
2,544

 
14.04

 
0.5
 
0.3
 
0.3
 

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LARGEST MSAs BY ABR
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent of
 
 
 
 
 
 
 
 
 
 
 
Number of
 
 
 
Percent
 
Percent
 
 
 
 
 
Number of
 
Percent
 
Percent
 
 
 
Largest MSAs by ABR
 
MSA Rank
 
Properties
 
 GLA
 
Billed
 
Leased
 
 ABR
 
 ABR PSF
 
Properties
 
of GLA
 
of ABR
 
 
71

Bridgeport-Stamford-Norwalk, CT
 
58
 
1

 
161,075

 
98.4
 
98.4
 
2,450

 
15.46

 
0.2
 
0.2
 
0.3
 
 
72

Duluth, MN-WI
 
172
 
1

 
183,006

 
85.2
 
98.2
 
2,304

 
12.82

 
0.2
 
0.3
 
0.3
 
 
73

Altoona, PA
 
334
 
1

 
265,200

 
81.7
 
84.9
 
2,291

 
10.27

 
0.2
 
0.4
 
0.3
 
 
74

Elkhart-Goshen, IN
 
218
 
1

 
257,748

 
94.3
 
97.6
 
2,242

 
15.78

 
0.2
 
0.4
 
0.3
 
 
75

Santa Maria-Santa Barbara, CA
 
122
 
1

 
179,549

 
100.0
 
100.0
 
2,229

 
13.38

 
0.2
 
0.3
 
0.2
 
 
76

Hickory-Lenoir-Morganton, NC
 
146
 
2

 
284,984

 
87.5
 
87.5
 
2,228

 
8.93

 
0.5
 
0.4
 
0.2
 
 
77

Dover, DE
 
240
 
1

 
191,974

 
81.3
 
82.3
 
2,210

 
13.99

 
0.2
 
0.3
 
0.2
 
 
78

St. Louis, MO-IL
 
20
 
2

 
209,036

 
95.4
 
96.0
 
2,144

 
10.85

 
0.5
 
0.3
 
0.2
 
 
79

Austin-Round Rock, TX
 
30
 
1

 
169,405

 
95.1
 
98.5
 
2,102

 
12.60

 
0.2
 
0.2
 
0.2
 
 
80

Lancaster, PA
 
103
 
2

 
170,128

 
91.9
 
91.9
 
2,036

 
13.02

 
0.5
 
0.2
 
0.2
 
 
81

Tucson, AZ
 
53
 
1

 
165,350

 
98.7
 
100.0
 
2,034

 
12.30

 
0.2
 
0.2
 
0.2
 
 
82

Ithaca, NY
 
373
 
1

 
204,405

 
85.1
 
100.0
 
2,025

 
9.91

 
0.2
 
0.3
 
0.2
 
 
83

Concord, NH
 
278
 
1

 
182,887

 
98.4
 
98.4
 
2,015

 
11.47

 
0.2
 
0.3
 
0.2
 
 
84

Pittsburgh, PA
 
27
 
1

 
199,079

 
100.0
 
100.0
 
1,966

 
10.95

 
0.2
 
0.3
 
0.2
 
 
85

Rutland, VT
 
535
 
1

 
224,514

 
98.1
 
98.1
 
1,943

 
8.82

 
0.2
 
0.3
 
0.2
 
 
86

Manhattan, KS
 
391
 
1

 
217,261

 
94.3
 
95.2
 
1,936

 
14.93

 
0.2
 
0.3
 
0.2
 
 
87

Flint, MI
 
133
 
1

 
164,559

 
80.6
 
92.3
 
1,920

 
12.74

 
0.2
 
0.2
 
0.2
 
 
88

Greeneville, TN
 
485
 
1

 
224,139

 
83.0
 
97.1
 
1,896

 
8.81

 
0.2
 
0.3
 
0.2
 
 
89

Tulsa, OK
 
55
 
1

 
186,851

 
100.0
 
100.0
 
1,894

 
10.14

 
0.2
 
0.3
 
0.2
 
 
90

Saginaw, MI
 
229
 
1

 
184,735

 
99.3
 
99.3
 
1,890

 
10.31

 
0.2
 
0.3
 
0.2
 
 
91

Syracuse, NY
 
88
 
1

 
125,445

 
100.0
 
100.0
 
1,853

 
14.77

 
0.2
 
0.2
 
0.2
 
 
92

Portland-South Portland, ME
 
105
 
1

 
287,513

 
90.0
 
90.0
 
1,848

 
20.44

 
0.2
 
0.4
 
0.2
 
 
93

Crestview-Fort Walton Beach-Destin, FL
 
173
 
1

 
158,118

 
96.9
 
98.4
 
1,799

 
11.56

 
0.2
 
0.2
 
0.2
 
 
94

California-Lexington Park, MD
 
353
 
1

 
92,335

 
100.0
 
100.0
 
1,780

 
19.28

 
0.2
 
0.1
 
0.2
 
 
95

Columbus, IN
 
436
 
1

 
142,989

 
96.2
 
97.8
 
1,633

 
11.68

 
0.2
 
0.2
 
0.2
 
 
96

Muskegon, MI
 
245
 
1

 
109,590

 
91.8
 
96.3
 
1,571

 
16.98

 
0.2
 
0.2
 
0.2
 
 
97

London, KY
 
319
 
1

 
165,826

 
66.7
 
100.0
 
1,564

 
9.43

 
0.2
 
0.2
 
0.2
 
 
98

Toledo, OH
 
93
 
1

 
305,980

 
69.7
 
70.4
 
1,549

 
14.17

 
0.2
 
0.4
 
0.2
 
 
99

Deltona-Daytona Beach-Ormond Beach, FL
 
86
 
1

 
182,054

 
82.3
 
94.3
 
1,523

 
8.87

 
0.2
 
0.3
 
0.2
 
 
100

Ocean City, NJ
 
406
 
1

 
136,822

 
94.0
 
95.2
 
1,519

 
11.66

 
0.2
 
0.2
 
0.2
 
 
 
100 Largest MSAs by ABR
 
—
 
371

 
66,979,504

 
88.7
 
92.1
 
856,772

 
14.96

 
90.7
 
93.6
 
95.9
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other MSAs
 
—
 
38

 
4,560,989

 
86.8
 
89.9
 
36,225

 
9.16

 
9.3
 
6.4
 
4.1
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL
 
—
 
409

 
71,540,493

 
88.6
 
91.9
 
$
892,997

 
$
14.59

 
100.0
 
100.0
 
100.0
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




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

Florida
 
48

 
7,974,381

 
85.4
%
 
88.9
%
 
$
104,271

 
$
15.18

 
11.7
%
 
11.1
%
 
11.7
%
 
 
2

Texas
 
53

 
8,102,062

 
89.6
%
 
94.0
%
 
102,677

 
14.44

 
13.0
%
 
11.3
%
 
11.5
%
 
 
3

California
 
27

 
5,084,399

 
93.0
%
 
95.9
%
 
94,516

 
20.93

 
6.6
%
 
7.1
%
 
10.6
%
 
 
4

New York
 
29

 
3,699,609

 
92.6
%
 
96.3
%
 
68,287

 
19.64

 
7.1
%
 
5.2
%
 
7.6
%
 
 
5

Pennsylvania
 
27

 
5,099,162

 
87.9
%
 
90.4
%
 
65,253

 
17.10

 
6.6
%
 
7.1
%
 
7.3
%
 
 
6

North Carolina
 
20

 
4,243,907

 
91.7
%
 
94.3
%
 
44,287

 
11.66

 
4.9
%
 
5.9
%
 
5.0
%
 
 
7

Georgia
 
31

 
4,403,021

 
86.2
%
 
88.9
%
 
42,971

 
11.27

 
7.6
%
 
6.2
%
 
4.8
%
 
 
8

New Jersey
 
16

 
2,819,820

 
88.6
%
 
93.2
%
 
41,064

 
16.67

 
3.9
%
 
3.9
%
 
4.6
%
 
 
9

Illinois
 
16

 
3,666,199

 
80.6
%
 
84.7
%
 
40,687

 
13.84

 
3.9
%
 
5.1
%
 
4.6
%
 
 
10

Michigan
 
16

 
2,997,110

 
89.8
%
 
93.7
%
 
35,505

 
13.23

 
3.9
%
 
4.2
%
 
4.0
%
 
 
11

Ohio
 
16

 
3,389,442

 
85.3
%
 
86.2
%
 
35,079

 
13.84

 
3.9
%
 
4.7
%
 
3.9
%
 
 
12

Connecticut
 
12

 
1,850,585

 
89.5
%
 
91.8
%
 
26,152

 
15.39

 
2.9
%
 
2.6
%
 
2.9
%
 
 
13

Tennessee
 
9

 
2,037,716

 
91.8
%
 
96.9
%
 
23,224

 
11.94

 
2.2
%
 
2.8
%
 
2.6
%
 
 
14

Colorado
 
7

 
1,595,976

 
89.0
%
 
90.6
%
 
20,523

 
15.10

 
1.7
%
 
2.2
%
 
2.3
%
 
 
15

Massachusetts
 
10

 
1,725,648

 
87.1
%
 
94.5
%
 
19,321

 
15.47

 
2.4
%
 
2.4
%
 
2.2
%
 
 
16

Kentucky
 
8

 
1,854,056

 
90.1
%
 
96.8
%
 
18,710

 
11.52

 
2.0
%
 
2.6
%
 
2.1
%
 
 
17

Minnesota
 
9

 
1,377,631

 
88.0
%
 
92.6
%
 
16,469

 
13.89

 
2.2
%
 
1.9
%
 
1.8
%
 
 
18

Indiana
 
9

 
1,645,110

 
88.6
%
 
89.7
%
 
15,607

 
11.70

 
2.2
%
 
2.3
%
 
1.7
%
 
 
19

South Carolina
 
7

 
1,310,223

 
91.5
%
 
94.7
%
 
15,478

 
12.75

 
1.7
%
 
1.8
%
 
1.7
%
 
 
20

Virginia
 
8

 
1,195,945

 
93.3
%
 
94.2
%
 
13,890

 
13.23

 
2.0
%
 
1.7
%
 
1.6
%
 
 
21

New Hampshire
 
5

 
772,528

 
94.8
%
 
96.2
%
 
8,380

 
13.82

 
1.2
%
 
1.1
%
 
0.9
%
 
 
22

Wisconsin
 
4

 
686,770

 
75.8
%
 
79.0
%
 
6,210

 
11.44

 
1.0
%
 
1.0
%
 
0.7
%
 
 
23

Maryland
 
3

 
410,713

 
76.8
%
 
83.6
%
 
5,612

 
16.34

 
0.7
%
 
0.6
%
 
0.6
%
 
 
24

Missouri
 
5

 
655,984

 
93.0
%
 
94.2
%
 
5,339

 
8.82

 
1.2
%
 
0.9
%
 
0.6
%
 
 
25

Alabama
 
1

 
463,848

 
88.8
%
 
88.8
%
 
3,625

 
8.98

 
0.2
%
 
0.6
%
 
0.4
%
 
 
26

Kansas
 
2

 
378,962

 
92.5
%
 
93.0
%
 
3,413

 
12.40

 
0.5
%
 
0.5
%
 
0.4
%
 
 
27

Iowa
 
2

 
512,825

 
97.1
%
 
97.1
%
 
3,172

 
6.43

 
0.5
%
 
0.7
%
 
0.4
%
 
 
28

Delaware
 
1

 
191,974

 
81.3
%
 
82.3
%
 
2,210

 
13.99

 
0.2
%
 
0.3
%
 
0.2
%
 
 
29

West Virginia
 
2

 
251,500

 
96.0
%
 
96.0
%
 
2,085

 
8.63

 
0.5
%
 
0.4
%
 
0.2
%
 
 
30

Arizona
 
1

 
165,350

 
98.7
%
 
100.0
%
 
2,034

 
12.30

 
0.2
%
 
0.2
%
 
0.2
%
 
 
31

Vermont
 
1

 
224,514

 
98.1
%
 
98.1
%
 
1,943

 
8.82

 
0.2
%
 
0.3
%
 
0.2
%
 
 
32

Oklahoma
 
1

 
186,851

 
100.0
%
 
100.0
%
 
1,894

 
10.14

 
0.2
%
 
0.3
%
 
0.2
%
 
 
33

Maine
 
1

 
287,513

 
90.0
%
 
90.0
%
 
1,848

 
20.44

 
0.2
%
 
0.4
%
 
0.2
%
 
 
34

Louisiana
 
2

 
279,159

 
66.0
%
 
77.5
%
 
1,261

 
5.83

 
0.5
%
 
0.4
%
 
0.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL
 
409

 
71,540,493

 
88.6
%
 
91.9
%
 
$
892,997

 
$
14.59

 
100.0
%
 
100.0
%
 
100.0
%
 

Supplemental Disclosure - Three Months Ended September 30, 2019
Page 38
logo.jpg




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

 
Springdale
 
Mobile
 
AL
 
Mobile, AL
 
2004
 
463,848

 
88.8
%
 
$
3,625

 
$
8.99

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

 
Northmall Centre
 
Tucson
 
AZ
 
Tucson, AZ
 
1996
 
165,350

 
100.0
%
 
2,034

 
12.30

 
Sam's Club*
 
CareMore, Defy-Tucson, Tuesday Morning, Stein Mart
 
-
3

 
Bakersfield Plaza
 
Bakersfield
 
CA
 
Bakersfield, CA
 
1970
 
240,068

 
96.3
%
 
3,488

 
15.37

 
Lassens Natural Foods & Vitamins
 
AMC Theatres, Burlington Stores, Five Below, In Shape Fitness, Ross Dress for Less
 
Hobby Lobby
4

 
Carmen Plaza
 
Camarillo
 
CA
 
Oxnard-Thousand Oaks-Ventura, CA
 
2000
 
125,323

 
91.0
%
 
2,540

 
23.63

 
Trader Joe's*
 
24 Hour Fitness, CVS
 
-
5

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

 
96.3
%
 
1,292

 
19.88

 
Stater Bros.
 
-
 
-
6

 
Cudahy Plaza
 
Cudahy
 
CA
 
Los Angeles-Long Beach-Anaheim, CA
 
1994
 
123,145

 
71.3
%
 
1,982

 
22.56

 
-
 
Big Lots, Chuze Fitness
 
-
7

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

 
51.8
%
 
1,340

 
24.93

 
Trader Joe's
 
World Market
 
-
8

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

 
98.8
%
 
1,477

 
15.17

 
Vons (Albertsons)
 
Chuze Fitness
 
-
9

 
Felicita Town Center
 
Escondido
 
CA
 
San Diego-Carlsbad, CA
 
1987
 
124,670

 
98.3
%
 
2,842

 
23.19

 
Major Market, Trader Joe's
 
Rite Aid
 
-
10

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

 
98.3
%
 
4,070

 
15.85

 
Smart & Final Extra!
 
PetSmart, The Home Depot, United Artists Theatres
 
-
11

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

 
100.0
%
 
2,229

 
13.38

 
Vons (Albertsons)
 
Five Below, Harbor Freight Tools, Marshalls, Michaels, Ulta
 
-
12

 
Briggsmore Plaza
 
Modesto
 
CA
 
Modesto, CA
 
1998
 
92,315

 
94.4
%
 
1,179

 
14.37

 
Grocery Outlet
 
Sears Outlet, dd's Discounts (Ross)
 
In Shape Fitness
13

 
Montebello Plaza
 
Montebello
 
CA
 
Los Angeles-Long Beach-Anaheim, CA
 
1974
 
284,331

 
99.6
%
 
5,878

 
21.32

 
Albertsons
 
Best Buy, CVS, Five Below, Kohl's, Ross Dress for Less
 
-
14

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

 
100.0
%
 
2,175

 
18.02

 
Barons Market
 
Crunch Fitness, Dollar Tree
 
-
15

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

 
98.1
%
 
2,077

 
10.44

 
Food 4 Less (Kroger)
 
Ross Dress for Less, Target
 
-
16

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

 
100.0
%
 
2,792

 
34.02

 
-
 
Kohl's, Party City
 
Walmart
17

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

 
99.1
%
 
8,639

 
26.56

 
99 Ranch Market, Trader Joe's
 
CVS, Macy's Home Store, Restoration Hardware, Total Wine & More
 
-
18

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

 
97.1
%
 
6,037

 
24.04

 
-
 
Marshalls, Planet Fitness
 
-
19

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

 
99.3
%
 
5,177

 
30.67

 
Ralphs (Kroger), Trader Joe's
 
Crunch Fitness, CVS
 
-
20

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

 
100.0
%
 
825

 
18.53

 
Stater Bros.
 
-
 
-
21

 
Village at Mira Mesa (3)
 
San Diego
 
CA
 
San Diego-Carlsbad, CA
 
2019
 
434,945

 
99.3
%
 
10,397

 
24.90

 
Sprouts Farmers Market, Vons (Albertsons)
 
Bed Bath & Beyond, BevMo, CVS, Marshalls, Michaels, Mira Mesa Lanes
 
-
22

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

 
97.6
%
 
3,764

 
23.41

 
Smart & Final Extra!
 
Harbor Freight Tools, T.J.Maxx
 
-
23

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

 
100.0
%
 
3,086

 
28.26

 
Trader Joe's
 
Big Lots, Petco, Rite Aid
 
-
24

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

 
100.0
%
 
3,560

 
23.94

 
El Super, Walmart Supercenter
 
LA Fitness, Ross Dress for Less
 
Target
25

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

 
97.6
%
 
2,027

 
11.10

 
Vons (Albertsons)
 
Ace Hardware, Big Lots
 
-
26

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

 
90.1
%
 
2,909

 
22.14

 
Stater Bros.
 
Rite Aid, Stein Mart
 
-
27

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

 
100.0
%
 
1,099

 
20.66

 
Ralphs (Kroger)
 
-
 
-
28

 
Upland Town Square
 
Upland
 
CA
 
Riverside-San Bernardino-Ontario, CA
 
1994
 
101,850

 
92.9
%
 
1,986

 
20.99

 
Sprouts Farmers Market
 
-
 
-
29

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

 
94.0
%
 
9,649

 
19.95

 
Costco*
 
Bed Bath & Beyond, Century Theatres, DSW, LA Fitness, Marshalls, Michaels, OfficeMax, Party City, Petco, Ross Dress for Less, Ulta
 
Target
30

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

 
100.0
%
 
758

 
7.96

 
King Soopers (Kroger)
 
Arc
 
-
31

 
Arapahoe Crossings
 
Aurora
 
CO
 
Denver-Aurora-Lakewood, CO
 
1996
 
476,988

 
99.3
%
 
7,294

 
15.55

 
King Soopers (Kroger)
 
2nd & Charles, AMC Theatres, Big Lots, Burlington Stores, buybuy BABY, Kohl's, Planet Fitness, Stein Mart
 
-
32

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

 
96.0
%
 
1,718

 
10.39

 
King Soopers (Kroger)
 
Chuze Fitness, Cinema Latino
 
-
33

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

 
91.5
%
 
1,704

 
15.38

 
-
 
Chuze Fitness
 
-
34

 
Centennial Shopping Center
 
Englewood
 
CO
 
Denver-Aurora-Lakewood, CO
 
2013
 
113,682

 
92.7
%
 
1,070

 
38.19

 
King Soopers (Kroger)
 
Pet Supplies Plus
 
-
35

 
Superior Marketplace
 
Superior
 
CO
 
Boulder, CO
 
1997
 
278,419

 
96.0
%
 
4,393

 
16.43

 
Whole Foods Market, Costco*, SuperTarget*
 
Goldfish Swim School, Stickley Furniture, T.J.Maxx, Ulta
 
-
36

 
Westminster City Center
 
Westminster
 
CO
 
Denver-Aurora-Lakewood, CO
 
1996
 
332,059

 
67.1
%
 
3,586

 
16.10

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

Supplemental Disclosure - Three Months Ended September 30, 2019
Page 39
logo.jpg




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
Non-Owned
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
37

 
The Shoppes at Fox Run
 
Glastonbury
 
CT
 
Hartford-West Hartford-East Hartford, CT
 
1974
 
106,406

 
91.6
%
 
2,572

 
26.39

 
Whole Foods Market
 
Petco
 
-
38

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

 
97.0
%
 
2,481

 
13.00

 
Super Stop & Shop (Ahold Delhaize)
 
Kohl's
 
Walmart
39

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

 
97.5
%
 
984

 
13.94

 
PriceRite (Wakefern)
 
-
 
The Home Depot
40

 
The Manchester Collection
 
Manchester
 
CT
 
Hartford-West Hartford-East Hartford, CT
 
2001
 
327,775

 
82.0
%
 
3,693

 
13.74

 
Walmart Supercenter*
 
A.C. Moore, Ashley Furniture, Bed Bath & Beyond, Cost Plus World Market, DSW, Edge Fitness, Frontera Grill, Hobby Lobby
 
Best Buy, The Home Depot, Walmart
41

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

 
100.0
%
 
530

 
9.76

 
-
 
Dollar Tree, Savers
 
-
42

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

 
100.0
%
 
2,484

 
16.57

 
Price Chopper
 
Dick's Sporting Goods
 
-
43

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

 
96.1
%
 
1,767

 
17.70

 
-
 
Barnes & Noble, Dollar Tree, DSW, Five Below, Lumber Liquidators, PetSmart
 
-
44

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

 
100.0
%
 
1,834

 
13.81

 
-
 
A.C. Moore, Christmas Tree Shops
 
-
45

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

 
98.4
%
 
2,450

 
15.46

 
-
 
LA Fitness, Marshalls
 
-
46

 
Torrington Plaza
 
Torrington
 
CT
 
Torrington, CT
 
1994
 
125,496

 
82.9
%
 
1,138

 
10.94

 
-
 
Eblens Outlet, JOANN, Staples, T.J.Maxx
 
-
47

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

 
83.5
%
 
2,094

 
13.70

 
Super Stop & Shop (Ahold Delhaize)
 
Dollar Tree
 
Target
48

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

 
92.6
%
 
4,125

 
18.82

 
-
 
Dick’s Sporting Goods, DSW, Michaels, Party City, Tractor Supply Co., Ulta
 
Best Buy, Raymour & Flanigan
49

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

 
82.3
%
 
2,210

 
13.99

 
-
 
Hobby Lobby, Kirkland's, Party City, Staples, T.J.Maxx
 
-
50

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

 
93.0
%
 
3,642

 
18.28

 
-
 
Bed Bath & Beyond, Belk, Marshalls, Michaels, Office Depot, Petco, Sears, Ulta
 
-
51

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

 
96.3
%
 
6,714

 
23.17

 
Costco*, SuperTarget*
 
Burlington Stores, David's Bridal, Michaels, PetSmart, Ross Dress for Less
 
Lowe's
52

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

 
87.0
%
 
3,409

 
14.84

 
Publix
 
Big Lots, Off the Wall Trampoline, Planet Fitness
 
-
53

 
Century Plaza Shopping Center
 
Deerfield Beach
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
2006
 
90,488

 
93.4
%
 
2,018

 
23.89

 
-
 
Broward County Library, CVS
 
-
54

 
Northgate Shopping Center
 
DeLand
 
FL
 
Deltona-Daytona Beach-Ormond Beach, FL
 
1993
 
182,054

 
94.3
%
 
1,523

 
8.87

 
Publix
 
Big Lots, Planet Fitness, Tractor Supply
 
-
55

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

 
98.4
%
 
1,799

 
11.56

 
Publix
 
Bealls Outlet, Books-A-Million, Office Depot, T.J.Maxx
 
-
56

 
Normandy Square
 
Jacksonville
 
FL
 
Jacksonville, FL
 
1996
 
89,822

 
100.0
%
 
856

 
9.81

 
Winn-Dixie (Southeastern Grocers)
 
Ace Hardware, Family Dollar
 
-
57

 
Regency Park Shopping Center
 
Jacksonville
 
FL
 
Jacksonville, FL
 
1985
 
331,335

 
88.4
%
 
2,413

 
8.90

 
-
 
American Signature Furniture, Bealls Outlet, Books-A-Million, David's Bridal, Ollie's Bargain Outlet, Surplus Warehouse
 
-
58

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

 
87.7
%
 
1,656

 
19.22

 
-
 
LA Fitness
 
-
59

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

 
94.6
%
 
2,289

 
18.12

 
Walmart Neighborhood Market
 
Walgreens
 
-
60

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

 
91.8
%
 
1,797

 
11.06

 
Publix
 
Dollar Tree, Petco, Staples, Tuesday Morning, T.J.Maxx
 
-
61

 
Marco Town Center (3)
 
Marco Island
 
FL
 
Naples-Immokalee-Marco Island, FL
 
2019
 
109,745

 
76.0
%
 
1,826

 
21.88

 
Publix
 
-
 
-
62

 
Mall at 163rd Street
 
Miami
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
2007
 
343,585

 
79.9
%
 
3,625

 
13.56

 
Walmart Supercenter*
 
Citi Trends, Marshalls, Ross Dress for Less
 
The Home Depot
63

 
Shops at Palm Lakes
 
Miami
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
1996
 
256,719

 
52.1
%
 
2,408

 
18.00

 
Fresco y Más (Southeastern Grocers)
 
Ross Dress for Less
 
-
64

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

 
41.9
%
 
1,229

 
13.86

 
Publix
 
-
 
-
65

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

 
100.0
%
 
3,769

 
19.00

 
Publix
 
Marshalls, Office Depot, PGA TOUR Superstore
 
-
66

 
Park Shore Plaza
 
Naples
 
FL
 
Naples-Immokalee-Marco Island, FL
 
2018
 
256,948

 
98.0
%
 
4,808

 
20.17

 
The Fresh Market
 
Big Lots, Burlington Stores, HomeGoods, Kirkland's, Party City, Saks OFF Fifth, Yard House
 
-
67

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

 
100.0
%
 
1,086

 
13.38

 
Publix
 
Zone Fitness Club
 
-
68

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

 
96.8
%
 
1,000

 
11.68

 
Sedano's
 
Family Dollar
 
-
69

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

 
100.0
%
 
2,458

 
17.42

 
-
 
Burlington Stores, LA Fitness
 
Target
70

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

 
100.0
%
 
1,107

 
14.51

 
Publix
 
-
 
-
71

 
Hunter's Creek Plaza
 
Orlando
 
FL
 
Orlando-Kissimmee-Sanford, FL
 
1998
 
72,683

 
98.2
%
 
1,169

 
16.38

 
Lucky's Market
 
Office Depot
 
-

Supplemental Disclosure - Three Months Ended September 30, 2019
Page 40
logo.jpg




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
Non-Owned
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
72

 
Pointe Orlando (3)
 
Orlando
 
FL
 
Orlando-Kissimmee-Sanford, FL
 
2019
 
420,148

 
87.1
%
 
10,352

 
28.79

 
-
 
Capital Grille, Hampton Social, Main Event, Regal Cinemas, Rodizio Grill
 
-
73

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

 
100.0
%
 
835

 
12.94

 
Publix
 
-
 
-
74

 
Martin Downs Village Center
 
Palm City
 
FL
 
Port St. Lucie, FL
 
1987
 
165,770

 
92.2
%
 
2,997

 
20.16

 
-
 
Coastal Care, Walgreens
 
-
75

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

 
92.8
%
 
1,175

 
12.81

 
Publix
 
-
 
-
76

 
Panama City Square
 
Panama City
 
FL
 
Panama City, FL
 
1989
 
298,665

 
99.5
%
 
2,524

 
8.50

 
Walmart Supercenter
 
Big Lots, Harbor Freight Tools, HomeGoods, T.J.Maxx
 
-
77

 
East Port Plaza
 
Port St. Lucie
 
FL
 
Port St. Lucie, FL
 
1991
 
214,489

 
86.2
%
 
2,588

 
14.00

 
Publix
 
Fortis Institute, Urban Air Adventure Park, Walgreens
 
-
78

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

 
96.0
%
 
1,211

 
13.25

 
Winn-Dixie (Southeastern Grocers)
 
Dollar Tree
 
-
79

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

 
100.0
%
 
726

 
12.73

 
Winn-Dixie (Southeastern Grocers)
 
-
 
-
80

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

 
93.9
%
 
782

 
21.14

 
SuperTarget*
 
The Zoo Health Club
 
-
81

 
Beneva Village Shoppes (3)
 
Sarasota
 
FL
 
North Port-Sarasota-Bradenton, FL
 
2019
 
142,562

 
98.7
%
 
2,482

 
17.65

 
Publix
 
Harbor Freight Tools, Pet Supermarket, Walgreens
 
-
82

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

 
100.0
%
 
2,094

 
12.40

 
Publix
 
Big Lots, Crunch Fitness, HomeGoods
 
-
83

 
Atlantic Plaza
 
Satellite Beach
 
FL
 
Palm Bay-Melbourne-Titusville, FL
 
2008
 
130,301

 
74.4
%
 
1,391

 
14.34

 
Publix
 
Planet Fitness
 
-
84

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

 
97.1
%
 
1,327

 
8.73

 
Sprouts Farmers Market
 
Bealls Outlet, Burlington Stores, T.J.Maxx
 
-
85

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

 
97.4
%
 
3,709

 
14.34

 
Publix
 
Bealls, Bed Bath & Beyond, Michaels, Party City, Petco
 
-
86

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

 
76.1
%
 
1,616

 
15.59

 
Publix
 
CVS, Dollar Tree
 
-
87

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

 
100.0
%
 
1,433

 
9.58

 
Winn-Dixie (Southeastern Grocers)
 
Bealls Outlet, Big Lots
 
-
88

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

 
47.0
%
 
561

 
11.44

 
-
 
Advantage Village Academy, Dollar Tree
 
-
89

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

 
83.3
%
 
1,721

 
10.21

 
Winn-Dixie (Southeastern Grocers)
 
Big Lots, Chuck E. Cheese’s
 
-
90

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

 
84.1
%
 
1,652

 
12.99

 
Publix
 
Family Dollar, Flooring USA
 
-
91

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

 
95.1
%
 
1,311

 
12.52

 
Patel Brothers
 
Dollar Tree, LA Fitness
 
Walmart
92

 
Carrollwood Center
 
Tampa
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
2002
 
92,678

 
92.4
%
 
1,575

 
18.39

 
Publix
 
Rarehues
 
-
93

 
Ross Plaza
 
Tampa
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
1996
 
89,207

 
100.0
%
 
1,428

 
16.01

 
-
 
Dollar Tree, Lumber Liquidators, Ross Dress for Less
 
-
94

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

 
97.9
%
 
2,325

 
16.28

 
Publix
 
Petco, T.J.Maxx, Ulta
 
-
95

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

 
96.3
%
 
934

 
7.33

 
Winn-Dixie (Southeastern Grocers)
 
Lumber Liquidators, Pet Supermarket, T.J.Maxx
 
-
96

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

 
78.7
%
 
536

 
6.20

 
Publix
 
Bealls Outlet
 
-
97

 
Venice Village Shoppes
 
Venice
 
FL
 
North Port-Sarasota-Bradenton, FL
 
1989
 
172,267

 
90.4
%
 
2,385

 
15.31

 
Publix
 
JOANN, Planet Fitness
 
-
98

 
Albany Plaza
 
Albany
 
GA
 
Albany, GA
 
1995
 
114,169

 
80.9
%
 
616

 
6.67

 
Harveys (Southeastern Grocers)
 
OK Beauty & Fashions Outlet
 
-
99

 
Mansell Crossing
 
Alpharetta
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1993
 
280,749

 
93.5
%
 
3,940

 
19.96

 
-
 
Barnes & Noble, DSW, Macy's Furniture Gallery, REI, T.J.Maxx
 
Studio Movie Grill
100

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

 
86.1
%
 
4,514

 
12.03

 
City Farmers Market
 
dd's Discounts (Ross), NCG Cinemas
 
-
101

 
Augusta West Plaza
 
Augusta
 
GA
 
Augusta-Richmond County, GA-SC
 
2006
 
170,681

 
96.8
%
 
1,351

 
8.18

 
-
 
At Home, Dollar Tree, Octapharma
 
-
102

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

 
100.0
%
 
552

 
8.34

 
Food Depot
 
Family Dollar
 
-
103

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

 
92.1
%
 
1,093

 
15.01

 
Publix
 
-
 
-
104

 
Cedar Plaza
 
Cedartown
 
GA
 
Cedartown, GA
 
1994
 
83,300

 
100.0
%
 
714

 
8.57

 
Kroger
 
Planet Fitness
 
-
105

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

 
100.0
%
 
2,322

 
13.55

 
Walmart Supercenter*
 
JOANN, PetSmart, Value Village
 
The Home Depot
106

 
Cordele Square
 
Cordele
 
GA
 
Cordele, GA
 
2002
 
127,953

 
85.4
%
 
746

 
6.83

 
Harveys (Southeastern Grocers)
 
Belk, Citi Trends, Cordele Theatres
 
-
107

 
Covington Gallery
 
Covington
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1991
 
172,457

 
45.2
%
 
564

 
7.23

 
Ingles
 
-
 
-
108

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

 
96.1
%
 
776

 
12.00

 
Publix
 
-
 
-

Supplemental Disclosure - Three Months Ended September 30, 2019
Page 41
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PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
Non-Owned
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
109

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

 
95.3
%
 
1,237

 
13.68

 
Kroger
 
-
 
-
110

 
Northside
 
Dalton
 
GA
 
Dalton, GA
 
2001
 
73,931

 
97.3
%
 
617

 
8.58

 
Food City
 
Family Dollar
 
-
111

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

 
92.5
%
 
822

 
11.42

 
Publix
 
-
 
-
112

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

 
83.7
%
 
743

 
19.10

 
Kroger*
 
-
 
-
113

 
Westgate
 
Dublin
 
GA
 
Dublin, GA
 
2004
 
110,738

 
81.5
%
 
601

 
6.95

 
-
 
Big Lots
 
The Home Depot
114

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

 
100.0
%
 
1,645

 
10.60

 
-
 
American Signature Furniture, Ollie's Bargain Outlet, Studio Movie Grill
 
-
115

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

 
76.0
%
 
1,229

 
10.86

 
Food Depot
 
Cinemark, Staples
 
-
116

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

 
100.0
%
 
2,465

 
11.27

 
ALDI
 
Best Buy, Duluth Trading, Michaels, OfficeMax, PetSmart, The Furniture Mall
 
-
117

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

 
98.8
%
 
1,393

 
14.54

 
Publix
 
-
 
-
118

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

 
89.6
%
 
1,400

 
14.76

 
Publix
 
-
 
-
119

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

 
54.8
%
 
1,007

 
8.02

 
-
 
Dollar Tree, Ollie's Bargain Outlet, Planet Fitness
 
-
120

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

 
91.8
%
 
545

 
10.80

 
-
 
Marshalls
 
-
121

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

 
92.7
%
 
1,144

 
10.91

 
Kroger
 
-
 
-
122

 
Pavilions at Eastlake
 
Marietta
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1996
 
148,088

 
93.2
%
 
2,023

 
14.65

 
Kroger
 
Kayhill's Sports Bar and Grill
 
-
123

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

 
94.8
%
 
607

 
9.17

 
Food Depot
 
-
 
-
124

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

 
97.1
%
 
998

 
11.00

 
-
 
PGA TOUR Superstore
 
-
125

 
Victory Square
 
Savannah
 
GA
 
Savannah, GA
 
2007
 
119,919

 
90.7
%
 
1,584

 
14.57

 
SuperTarget*
 
Citi Trends, Dollar Tree, NCG Cinemas, Staples
 
The Home Depot
126

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

 
98.4
%
 
2,956

 
15.97

 
Kroger
 
-
 
-
127

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

 
95.9
%
 
1,705

 
5.12

 
Walmart Supercenter
 
Hobby Lobby, NCG Cinemas
 
-
128

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

 
95.6
%
 
1,062

 
10.95

 
Kroger
 
-
 
-
129

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

 
99.4
%
 
1,524

 
6.44

 
-
 
Burlington Stores, Harbor Freight Tools, Hobby Lobby
 
-
130

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

 
95.0
%
 
1,648

 
6.43

 
Price Chopper
 
Aspen Athletic Clubs, Big Lots, Northern Tool + Equipment, Office Depot
 
-
131

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

 
91.8
%
 
3,479

 
19.01

 
Trader Joe's
 
Chuck E. Cheese's, Kirkland's, Petco, Ulta
 
-
132

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

 
93.1
%
 
2,089

 
14.80

 
-
 
XSport Fitness
 
Kohl's
133

 
Bartonville Square
 
Bartonville
 
IL
 
Peoria, IL
 
2001
 
61,678

 
87.2
%
 
270

 
5.36

 
Kroger
 
-
 
-
134

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

 
88.7
%
 
2,146

 
12.21

 
Shop & Save Market
 
Hobby Lobby, Octapharma, Walgreens
 
-
135

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

 
94.7
%
 
4,240

 
14.85

 
-
 
Marshalls, Ross Dress for Less, The Home Depot, XSport Fitness
 
-
136

 
Rivercrest Shopping Center
 
Crestwood
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1992
 
541,651

 
91.4
%
 
5,888

 
12.64

 
-
 
AMC Theatres, At Home, Best Buy, Five Below, Party City, PetSmart, Planet Fitness, Ross Dress for Less, T.J.Maxx
 
-
137

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

 
89.9
%
 
2,599

 
10.59

 
Jewel-Osco (Albertsons)
 
Burlington Stores
 
Hobby Lobby
138

 
Elk Grove Town Center
 
Elk Grove Village
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1998
 
62,009

 
83.9
%
 
1,039

 
19.96

 
-
 
Walgreens
 
-
139

 
Freeport Plaza
 
Freeport
 
IL
 
Freeport, IL
 
2000
 
87,846

 
92.6
%
 
608

 
7.47

 
Cub Foods (United Natural Foods Inc.)
 
-
 
-
140

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

 
85.9
%
 
2,154

 
15.53

 
-
 
Best Buy, PetSmart, Stein Mart
 
-
141

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

 
80.4
%
 
1,332

 
15.52

 
Sunset Foods
 
-
 
-
142

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

 
58.7
%
 
1,769

 
12.27

 
-
 
Altitude Trampoline Park, David's Bridal, JOANN, LA Fitness
 
-
143

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

 
97.5
%
 
1,820

 
16.62

 
Jewel-Osco
 
Planet Fitness
 
-
144

 
Westridge Court (2)
 
Naperville
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1992
 
682,701

 
77.5
%
 
7,402

 
14.31

 
-
 
Art Van Furniture, Bed Bath & Beyond, buybuy BABY, Cost Plus World Market, Edge Fitness, Marshalls, Old Navy, Party City, Star Cinema Grill, Ulta
 
-
145

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

 
94.5
%
 
1,966

 
17.94

 
-
 
LA Fitness, Regal Cinemas
 
-
146

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

 
67.2
%
 
1,886

 
12.30

 
Walt's Fine Foods
 
Planet Fitness, Tile Shop
 
-

Supplemental Disclosure - Three Months Ended September 30, 2019
Page 42
logo.jpg




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
Non-Owned
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
147

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

 
93.2
%
 
1,202

 
9.86

 
-
 
Godby Home Furnishings, Ollie's Bargain Outlet
 
-
148

 
Columbus Center
 
Columbus
 
IN
 
Columbus, IN
 
1964
 
142,989

 
97.8
%
 
1,633

 
11.68

 
-
 
Big Lots, Five Below, OfficeMax, Pet Supplies Plus, T.J.Maxx, Ulta
 
Target
149

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

 
97.2
%
 
2,005

 
17.23

 
Walmart Supercenter*
 
Best Buy, Dick's Sporting Goods, PetSmart
 
Kohl's
150

 
Market Centre
 
Goshen
 
IN
 
Elkhart-Goshen, IN
 
1994
 
257,748

 
97.6
%
 
2,242

 
15.78

 
Walmart Supercenter*
 
JOANN, Staples
 
-
151

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

 
81.4
%
 
756

 
8.68

 
Kroger
 
-
 
-
152

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

 
79.0
%
 
350

 
14.78

 
Walmart Supercenter*
 
Aaron's
 
-
153

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

 
65.9
%
 
539

 
8.32

 
Kroger
 
-
 
-
154

 
Speedway Super Center (3)
 
Speedway
 
IN
 
Indianapolis-Carmel-Anderson, IN
 
2019
 
596,072

 
85.3
%
 
5,527

 
10.93

 
Kroger
 
Burlington Stores, Kohl's, Oak Street Health Center, Petco, Ross Dress for Less, Sears Outlet, T.J.Maxx
 
-
155

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

 
100.0
%
 
1,353

 
10.25

 
Pay Less (Kroger)
 
-
 
-
156

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

 
90.1
%
 
1,477

 
10.14

 
Hy-Vee
 
-
 
-
157

 
West Loop Shopping Center
 
Manhattan
 
KS
 
Manhattan, KS
 
2013
 
217,261

 
95.2
%
 
1,936

 
14.93

 
Dillons (Kroger)
 
Bellus Academy, JOANN, Marshalls
 
-
158

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

 
100.0
%
 
1,059

 
8.12

 
-
 
At Home, Staples
 
-
159

 
Florence Plaza - Florence Square (2)
 
Florence
 
KY
 
Cincinnati, OH-KY-IN
 
2014
 
686,875

 
98.0
%
 
7,607

 
14.46

 
Kroger
 
Barnes & Noble, Bob's Furniture, Burlington Stores, David's Bridal, Five Below, Harbor Freight Tools, Hobby Lobby, HomeGoods, Old Navy, Ollie's Bargain Outlet, Ross Dress for Less, Staples, T.J.Maxx
 
-
160

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

 
95.2
%
 
1,834

 
9.73

 
-
 
King Pin Lanes, Louisville Athletic Club
 
-
161

 
London Marketplace
 
London
 
KY
 
London, KY
 
1994
 
165,826

 
100.0
%
 
1,564

 
9.43

 
Kroger
 
Goody's, Kohl's, Marshalls, Planet Fitness
 
-
162

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

 
100.0
%
 
2,014

 
11.51

 
Kroger
 
Petco
 
-
163

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

 
96.2
%
 
1,586

 
11.00

 
Kroger
 
-
 
-
164

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

 
99.2
%
 
1,952

 
12.38

 
Kroger Marketplace
 
-
 
-
165

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

 
83.4
%
 
1,094

 
8.04

 
-
 
Big Lots, Books-A-Million, Office Depot
 
-
166

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

 
88.4
%
 
315

 
3.56

 
Super 1 Foods
 
dd's Discounts (Ross)
 
-
167

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

 
71.4
%
 
946

 
7.40

 
Super 1 Foods
 
Ollie's Bargain Outlet
 
-
168

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

 
92.9
%
 
1,020

 
8.41

 
-
 
Citi Trends, L&M Bargain, Ocean State Job Lot
 
-
169

 
Burlington Square I, II & III
 
Burlington
 
MA
 
Boston-Cambridge-Newton, MA-NH
 
1992
 
79,698

 
98.4
%
 
2,270

 
28.94

 
-
 
Golf Galaxy, Pyara Aveda Spa & Salon, Staples
 
Duluth Trading Co.
170

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

 
96.2
%
 
1,653

 
12.73

 
Super Stop & Shop (Ahold Delhaize)
 
JOANN, Ocean State Job Lot
 
-
171

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

 
99.2
%
 
3,253

 
11.74

 
-
 
Barnes & Noble, Michaels, Party City, Petco, Staples, T.J.Maxx
 
-
172

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

 
60.8
%
 
238

 
15.34

 
Hannaford Bros. (Ahold Delhaize)*
 
-
 
Walmart
173

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

 
39.4
%
 
878

 
28.56

 
-
 
Rainbow
 
-
174

 
Webster Square Shopping Center
 
Marshfield
 
MA
 
Boston-Cambridge-Newton, MA-NH
 
2005
 
182,756

 
96.1
%
 
2,449

 
13.94

 
Star Market (Albertsons)
 
Marshalls, Ocean State Job Lot
 
-
175

 
Berkshire Crossing
 
Pittsfield
 
MA
 
Pittsfield, MA
 
1994
 
436,805

 
100.0
%
 
4,064

 
21.06

 
Market 32
 
Barnes & Noble, Michaels, Staples, The Home Depot, Ulta, Walmart
 
-
176

 
Westgate Plaza
 
Westfield
 
MA
 
Springfield, MA
 
1996
 
103,903

 
96.0
%
 
1,188

 
12.28

 
-
 
Ocean State Job Lot, Staples, T.J.Maxx
 
-
177

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

 
96.8
%
 
2,308

 
17.72

 
Super Stop & Shop (Ahold Delhaize)
 
Citi Trends, Crunch Fitness, Ollie's Bargain Outlet
 
-
178

 
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
 
-
179

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

 
94.9
%
 
801

 
33.07

 
-
 
-
 
-
180

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

 
77.5
%
 
3,031

 
13.36

 
Giant Food (Ahold Delhaize)
 
JOANN, Peebles, Planet Fitness
 
-
181

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

 
90.0
%
 
1,848

 
20.44

 
-
 
Big Lots, Dollar Tree, JOANN, Lowe's
 
-
182

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

 
96.4
%
 
6,747

 
17.59

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

Supplemental Disclosure - Three Months Ended September 30, 2019
Page 43
logo.jpg




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
Non-Owned
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
183

 
Maple Village (3)
 
Ann Arbor
 
MI
 
Ann Arbor, MI
 
2019
 
292,467

 
95.6
%
 
4,535

 
16.22

 
Plum Market
 
Dunham's Sports, HomeGoods, LA Fitness, Sierra Trading Post, Stein Mart, Ulta
 
-
184

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

 
100.0
%
 
1,026

 
12.02

 
Busch’s Fresh Food Market
 
Ace Hardware
 
-
185

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

 
100.0
%
 
833

 
10.54

 
-
 
Dollar Tree, Ollie's Bargain Outlet, True Value
 
-
186

 
Silver Pointe Shopping Center
 
Fenton
 
MI
 
Flint, MI
 
1996
 
164,559

 
92.3
%
 
1,920

 
12.74

 
VG's Food (SpartanNash)
 
Dunham's Sports, Glik's
 
Five Below, Michaels, T.J.Maxx
187

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

 
77.3
%
 
598

 
7.77

 
D&W Fresh Market (SpartanNash)
 
-
 
-
188

 
Delta Center
 
Lansing
 
MI
 
Lansing-East Lansing, MI
 
1985
 
188,646

 
84.1
%
 
1,503

 
9.47

 
-
 
Bed Bath & Beyond, DXL Destination XL, Hobby Lobby, Planet Fitness
 
-
189

 
Lakes Crossing
 
Muskegon
 
MI
 
Muskegon, MI
 
2008
 
109,590

 
96.3
%
 
1,571

 
16.98

 
-
 
JOANN, Party City, Shoe Carnival, Ulta
 
Kohl's
190

 
Redford Plaza
 
Redford
 
MI
 
Detroit-Warren-Dearborn, MI
 
1992
 
280,883

 
86.6
%
 
2,608

 
10.72

 
Prince Valley Market
 
Blink Fitness (Equinox), Burlington Stores, Citi Trends, Dollar Tree
 
-
191

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

 
99.2
%
 
6,794

 
19.18

 
-
 
Best Buy, DSW, Emagine Theatre, Kohl's, Old Navy, Petco, T.J.Maxx, Ulta
 
Target
192

 
Fashion Corners
 
Saginaw
 
MI
 
Saginaw, MI
2004
 
184,735

 
99.3
%
 
1,890

 
10.31

 
-
 
Bed Bath & Beyond, Best Buy, Dunham's Sports, Guitar Center, Harbor Freight Tools
 
-
193

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

 
93.8
%
 
1,119

 
11.73

 
-
 
Party City, Planet Fitness
 
Burlington Stores
194

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

 
100.0
%
 
989

 
9.74

 
Dream Market
 
O'Reilly Auto Parts, Planet Fitness, Redline Athletics
 
-
195

 
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
 
-
196

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

 
79.0
%
 
1,453

 
11.30

 
-
 
Bed Bath & Beyond, Crunch Fitness, Party City, Petco
 
Burlington Stores, Target
197

 
Washtenaw Fountain Plaza
 
Ypsilanti
 
MI
 
Ann Arbor, MI
 
2005
 
122,762

 
93.7
%
 
824

 
7.16

 
Save-A-Lot
 
Dollar Tree, Dunham's Sports, Planet Fitness
 
-
198

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

 
95.9
%
 
2,168

 
18.10

 
SuperTarget*
 
Best Buy, Dollar Tree, Walgreens
 
-
199

 
Burning Tree Plaza
 
Duluth
 
MN
 
Duluth, MN-WI
 
1987
 
183,006

 
98.2
%
 
2,304

 
12.82

 
-
 
Best Buy, David's Bridal, HomeGoods, JOANN, T.J.Maxx
 
-
200

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

 
86.5
%
 
1,971

 
11.12

 
Cub Foods (Jerry's Foods)
 
OfficeMax
 
-
201

 
Westwind Plaza
 
Minnetonka
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
2007
 
91,549

 
100.0
%
 
1,753

 
19.15

 
Cub Foods (United Natural Foods Inc.)*
 
-
 
-
202

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

 
89.2
%
 
2,210

 
11.60

 
-
 
Marshalls, Michaels
 
-
203

 
Roseville Center (3)
 
Roseville
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
2019
 
80,825

 
89.2
%
 
946

 
19.90

 
ALDI, Cub Foods (Jerry's Foods)*
 
Dollar Tree
 
-
204

 
Marketplace @ 42
 
Savage
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
1999
 
114,567

 
95.4
%
 
1,761

 
16.12

 
Fresh Thyme Farmers Market
 
Marshalls
 
-
205

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

 
91.7
%
 
2,541

 
12.63

 
Cub Foods (United Natural Foods Inc.)
 
Planet Fitness, T.J.Maxx, Valu Thrift Store
 
-
206

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

 
94.2
%
 
815

 
11.84

 
Festival Foods
 
Dollar Tree
 
-
207

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

 
96.4
%
 
1,692

 
13.09

 
ALDI
 
Michaels, Party City, Petco, Tuesday Morning
 
-
208

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

 
89.5
%
 
799

 
5.95

 
Price Chopper
 
-
 
-
209

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

 
100.0
%
 
1,422

 
8.79

 
Price Chopper
 
Ace Hardware
 
-
210

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

 
89.4
%
 
974

 
8.73

 
Price Chopper
 
-
 
-
211

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

 
95.4
%
 
452

 
6.62

 
Schnucks
 
-
 
-
212

 
Devonshire Place
 
Cary
 
NC
 
Raleigh, NC
 
1996
 
106,680

 
100.0
%
 
1,572

 
15.05

 
-
 
Burlington Stores, Dollar Tree, Harbor Freight Tools, REI
 
-
213

 
McMullen Creek Market
 
Charlotte
 
NC
 
Charlotte-Concord-Gastonia, NC-SC
 
1988
 
281,924

 
90.9
%
 
3,867

 
15.09

 
Walmart Neighborhood Market
 
Burlington Stores, Dollar Tree, Staples
 
-
214

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

 
88.7
%
 
1,807

 
8.87

 
Patel Brothers
 
Big Lots, Gabriel Brothers, The Home Depot, Value City Furniture
 
-
215

 
Macon Plaza
 
Franklin
 
NC
 
—
 
2001
 
92,583

 
100.0
%
 
540

 
10.71

 
BI-LO (Southeastern Grocers)
 
Peebles
 
-
216

 
Garner Towne Square
 
Garner
 
NC
 
Raleigh, NC
 
1997
 
184,346

 
97.2
%
 
2,218

 
12.38

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

Supplemental Disclosure - Three Months Ended September 30, 2019
Page 44
logo.jpg




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
Non-Owned
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
217

 
Franklin Square
 
Gastonia
 
NC
 
Charlotte-Concord-Gastonia, NC-SC
 
1989
 
318,224

 
91.6
%
 
3,545

 
13.58

 
Walmart Supercenter
 
Best Buy, Burke's Outlet, Dollar Tree, Five Below, Michaels, Ross Dress for Less
 
-
218

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

 
88.6
%
 
5,126

 
14.23

 
-
 
Christmas Tree Shops, Dick's Sporting Goods, Kohl's, Michaels, Old Navy, PetSmart, Rainbow, Ross Dress for Less
 
Target
219

 
University Commons
 
Greenville
 
NC
 
Greenville, NC
 
1996
 
233,153

 
94.0
%
 
3,017

 
13.76

 
Harris Teeter (Kroger)
 
A.C. Moore, Barnes & Noble, Petco, T.J.Maxx
 
Target
220

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

 
90.0
%
 
1,641

 
9.52

 
-
 
Academy Sports + Outdoors, Dollar Tree, Harbor Freight Tools, Ollie's Bargain Outlet
 
-
221

 
Kinston Pointe
 
Kinston
 
NC
 
Kinston, NC
 
2001
 
250,580

 
99.7
%
 
1,068

 
4.28

 
Walmart Supercenter
 
Dollar Tree
 
-
222

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

 
82.4
%
 
587

 
7.62

 
-
 
Big Lots, Harbor Freight Tools
 
Rural King
223

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

 
100.0
%
 
1,441

 
14.82

 
-
 
Person County Health & Human Services
 
-
224

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

 
100.0
%
 
4,153

 
11.89

 
Food Lion (Ahold Delhaize)
 
Lowe's, Marshalls, Old Navy, PetSmart, Staples, Tinseltown
 
-
225

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

 
100.0
%
 
2,278

 
6.70

 
Walmart Supercenter
 
Big Lots, Burkes Outlet, Tractor Supply
 
-
226

 
Anson Station
 
Wadesboro
 
NC
 
—
 
1988
 
132,353

 
96.8
%
 
786

 
6.13

 
-
 
Peebles, Rose's, Tractor Supply Co.
 
-
227

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

 
96.2
%
 
1,834

 
13.63

 
-
 
OfficeMax, PetSmart, Sportsmans Warehouse
 
Target
228

 
University Commons
 
Wilmington
 
NC
 
Wilmington, NC
 
2007
 
235,345

 
99.4
%
 
3,619

 
15.47

 
Lowes Foods
 
A.C. Moore, HomeGoods, T.J.Maxx
 
-
229

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

 
96.6
%
 
1,177

 
14.72

 
Harris Teeter (Kroger)
 
-
 
-
230

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

 
88.8
%
 
3,026

 
13.04

 
Super Compare Foods
 
Badcock Home Furniture, Citi Trends, Modern Home, Office Depot
 
-
231

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

 
94.8
%
 
985

 
14.37

 
-
 
Golf Galaxy, Mattress Firm, OfficeMax
 
-
232

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

 
97.4
%
 
2,110

 
22.95

 
-
 
Bed Bath & Beyond, Boston Interiors
 
-
233

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

 
98.4
%
 
2,015

 
11.47

 
Market Basket (DeMoulas Supermarkets)
 
Burlington Stores, JOANN, Marshalls
 
-
234

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

 
99.0
%
 
2,380

 
19.98

 
-
 
New Hampshire Liquor and Wine Outlet, Petco
 
The Home Depot
235

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

 
82.3
%
 
463

 
6.39

 
-
 
JOANN, NH1 MotorPlex
 
Ashley Furniture, Cardi's Furniture, Ocean State Job Lot
236

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

 
98.0
%
 
1,412

 
9.61

 
Market Basket (DeMoulas Supermarkets)
 
T.J.Maxx, Staples
 
-
237

 
Laurel Square
 
Brick
 
NJ
 
New York-Newark-Jersey City, NY-NJ-PA
 
2019
 
246,235

 
78.8
%
 
1,491

 
8.23

 
Corrado's Market
 
At Home, Planet Fitness
 
-
238

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

 
95.2
%
 
4,543

 
23.73

 
ShopRite
 
Burlington Stores, Planet Fitness, Ross Dress For Less
 
-
239

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

 
100.0
%
 
1,422

 
26.93

 
Acme (Albertsons)
 
-
 
-
240

 
Collegetown Shopping Center (3)
 
Glassboro
 
NJ
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
2019
 
245,727

 
80.8
%
 
2,484

 
12.51

 
LIDL
 
Big Lots, LA Fitness, Staples
 
-
241

 
Hamilton Plaza (3)
 
Hamilton
 
NJ
 
Trenton, NJ
 
2019
 
150,919

 
100.0
%
 
1,374

 
9.10

 
-
 
Dollar Tree, Hibachi Grill & Supreme Buffet, Planet Fitness, Urban Air Adventure Park
 
-
242

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

 
94.7
%
 
1,588

 
13.19

 
Super Stop & Shop (Ahold Delhaize)
 
-
 
-
243

 
Marlton Crossing (3)
 
Marlton
 
NJ
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
2019
 
331,875

 
97.9
%
 
6,265

 
19.29

 
Sprouts Farmers Market
 
Burlington Stores, DSW, HomeGoods, Michaels, T.J. Maxx
 
-
244

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

 
98.0
%
 
3,825

 
20.07

 
ShopRite
 
Petco, Rite Aid
 
-
245

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

 
86.1
%
 
1,096

 
32.03

 
ShopRite
 
-
 
-
246

 
Old Bridge Gateway
 
Old Bridge
 
NJ
 
New York-Newark-Jersey City, NY-NJ-PA
 
1995
 
246,984

 
98.9
%
 
3,913

 
16.02

 
Bhavani Food Market
 
Marshalls, Modell's Sporting Goods, Pep Boys, Petco, Robert Wood Johnson Fitness
 
-
247

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

 
96.3
%
 
3,075

 
20.01

 
-
 
Blink Fitness (Equinox), Cinepolis, HomeGoods, Marshalls
 
-
248

 
Rio Grande Plaza
 
Rio Grande
 
NJ
 
Ocean City, NJ
 
1997
 
136,822

 
95.2
%
 
1,519

 
11.66

 
ShopRite*
 
Peebles, PetSmart, Planet Fitness
 
-
249

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

 
99.1
%
 
3,380

 
19.03

 
ShopRite
 
Pier 1 Imports, Staples
 
-
250

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

 
100.0
%
 
654

 
18.06

 
ShopRite
 
-
 
-
251

 
Tinton Falls Plaza
 
Tinton Falls
 
NJ
 
New York-Newark-Jersey City, NY-NJ-PA
 
2006
 
87,760

 
94.2
%
 
1,379

 
16.68

 
-
 
Dollar Tree, Jersey Strong
 
-

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PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
Non-Owned
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
252

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

 
89.3
%
 
3,056

 
15.82

 
Walmart Supercenter*
 
Marshalls, Rainbow, Ross Dress for Less, Staples, ULTA
 
-
253

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

 
100.0
%
 
2,761

 
30.78

 
-
 
Minado, Stew Leonard's Wines, T.J.Maxx
 
-
254

 
Erie Canal Centre
 
Dewitt
 
NY
 
Syracuse, NY
2018
 
125,445

 
100.0
%
 
1,853

 
14.77

 
-
 
Burlington Stores, Dick's Sporting Goods, Michaels
 
-
255

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

 
100.0
%
 
1,430

 
21.20

 
Acme (Albertsons)
 
True Value
 
-
256

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

 
71.9
%
 
1,608

 
26.48

 
BJ's Wholesale*
 
24 Hour Fitness
 
Kohl's, Walmart
257

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

 
97.7
%
 
2,019

 
26.69

 
Stop & Shop*, Wild by Nature Market*
 
Ace Hardware
 
Rite Aid
258

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

 
97.5
%
 
3,086

 
16.34

 
-
 
Burlington Stores, Dollar Tree, K&G Fashion Superstore
 
-
259

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

 
98.5
%
 
6,949

 
37.08

 
H-Mart
 
Christmas Tree Shops, T.J.Maxx
 
-
260

 
Cayuga Mall
 
Ithaca
 
NY
 
Ithaca, NY
1969
 
204,405

 
100.0
%
 
2,025

 
9.91

 
-
 
Big Lots, Dollar Tree, JOANN, Party City, Planet Fitness, Rite Aid, True Value
 
-
261

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

 
100.0
%
 
1,592

 
22.05

 
Key Food Marketplace
 
T.J.Maxx
 
-
262

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

 
100.0
%
 
607

 
35.71

 
Trader Joe's
 
-
 
-
263

 
Falcaro's Plaza
 
Lawrence
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1972
 
61,904

 
100.0
%
 
1,478

 
23.88

 
KolSave Market*
 
Advance Auto Parts, Dollar Tree, Planet Fitness
 
-
264

 
Mamaroneck Centre (3)
 
Mamaroneck
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2019
 
34,648

 
94.8
%
 
1,211

 
36.87

 
North Shore Farms
 
CVS
 
-
265

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

 
92.5
%
 
2,967

 
14.36

 
Super Stop & Shop (Ahold Delhaize)
 
Planet Fitness, Savers
 
-
266

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

 
96.4
%
 
2,146

 
10.94

 
-
 
Ashley Furniture, Big Lots, Citi Trends, David's Bridal, Hobby Lobby
 
-
267

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

 
100.0
%
 
2,006

 
16.44

 
ShopRite
 
Retro Fitness, Rite Aid, U.S. Post Office
 
-
268

 
Rockland Plaza
 
Nanuet
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2006
 
255,542

 
91.3
%
 
6,419

 
27.52

 
A Matter of Health
 
Barnes & Noble, Marshalls, Modell's Sporting Goods, Petco
 
-
269

 
North Ridge Shopping Center
 
New Rochelle
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
1971
 
39,008

 
89.7
%
 
1,327

 
37.94

 
-
 
Harmon Discount
 
-
270

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

 
97.2
%
 
2,764

 
23.13

 
-
 
Dollar Tree, HomeGoods
 
-
271

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

 
100.0
%
 
1,924

 
19.41

 
Best Market (LIDL)
 
CVS, T.J.Maxx
 
-
272

 
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
 
-
273

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

 
94.3
%
 
1,124

 
27.00

 
-
 
HomeGoods, Rite Aid
 
-
274

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

 
81.8
%
 
1,278

 
21.95

 
Price Chopper
 
Family Dollar
 
-
275

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

 
100.0
%
 
3,269

 
18.61

 
ShopRite
 
A.C. Moore, Blink Fitness (Equinox), Bob's Stores
 
Firestone
276

 
Campus Plaza
 
Vestal
 
NY
 
Binghamton, NY
 
2003
 
160,744

 
97.3
%
 
1,860

 
11.89

 
-
 
Olum's Furniture & Appliances, Staples
 
-
277

 
Parkway Plaza
 
Vestal
 
NY
 
Binghamton, NY
 
1995
 
207,154

 
100.0
%
 
2,264

 
10.93

 
PriceRite (Wakefern)
 
Bed Bath & Beyond, Kohl's, PetSmart
 
Target
278

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

 
100.0
%
 
1,494

 
16.18

 
-
 
HomeGoods, Michaels, Old Navy
 
-
279

 
Town Square Mall
 
Vestal
 
NY
 
Binghamton, NY
 
1991
 
291,346

 
97.9
%
 
4,842

 
16.97

 
Sam's Club*, Walmart Supercenter*
 
A.C. Moore, AMC Cinemas, Barnes & Noble, Dick's Sporting Goods, Dollar Tree, DSW, T.J.Maxx, Ulta
 
-
280

 
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
281

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

 
95.6
%
 
2,524

 
29.83

 
H-Mart
 
-
 
-
282

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

 
100.0
%
 
2,084

 
15.07

 
Giant Eagle
 
-
 
The Home Depot
283

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

 
94.4
%
 
1,490

 
10.82

 
Giant Eagle, Marc's
 
-
 
-
284

 
Brentwood Plaza
 
Cincinnati
 
OH
 
Cincinnati, OH-KY-IN
 
2004
 
221,743

 
93.0
%
 
2,397

 
17.79

 
Kroger
 
Petco, Planet Fitness, Rainbow
 
-
285

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

 
97.4
%
 
1,465

 
9.13

 
Kroger
 
Pet Supplies Plus, Salvation Army
 
-
286

 
Harpers Station
 
Cincinnati
 
OH
 
Cincinnati, OH-KY-IN
 
1994
 
252,326

 
96.7
%
 
3,569

 
14.62

 
Fresh Thyme Farmers Market
 
HomeGoods, LA Fitness, Pet Supplies Plus, Stein Mart, T.J.Maxx
 
-
287

 
Western Hills Plaza
 
Cincinnati
 
OH
 
Cincinnati, OH-KY-IN
 
1954
 
315,697

 
61.6
%
 
3,434

 
18.47

 
-
 
Bed Bath & Beyond, Michaels, Staples, T.J.Maxx
 
Target
288

 
Western Village
 
Cincinnati
 
OH
 
Cincinnati, OH-KY-IN
 
2005
 
115,791

 
95.2
%
 
1,119

 
37.77

 
Kroger
 
-
 
-

Supplemental Disclosure - Three Months Ended September 30, 2019
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PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
Non-Owned
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
289

 
Crown Point
 
Columbus
 
OH
 
Columbus, OH
 
1980
 
144,931

 
90.9
%
 
1,333

 
10.12

 
Kroger
 
Dollar Tree, Planet Fitness
 
-
290

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

 
84.9
%
 
1,187

 
11.45

 
Kroger
 
-
 
-
291

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

 
100.0
%
 
199

 
11.12

 
Kroger*
 
-
 
-
292

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

 
97.6
%
 
4,386

 
14.06

 
Health Foods Unlimited
 
Burlington Stores, Christmas Tree Shops, JOANN, Party City, Petsmart, Value City Furniture
 
-
293

 
Southland Shopping Center
 
Middleburg Heights
 
OH
 
Cleveland-Elyria, OH
 
1951
 
691,801

 
79.1
%
 
6,243

 
11.41

 
BJ's Wholesale Club, Giant Eagle, Marc's
 
Cleveland Furniture Bank, JOANN, Marshalls, Party City
 
-
294

 
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
 
-
295

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

 
95.7
%
 
2,171

 
26.05

 
Kroger
 
Marshalls
 
-
296

 
Brice Park
 
Reynoldsburg
 
OH
 
Columbus, OH
 
1989
 
158,565

 
86.0
%
 
1,282

 
9.92

 
-
 
Ashley Furniture, Citi Trends, Dollar Tree, Michaels
 
-
297

 
Miracle Mile Shopping Plaza
 
Toledo
 
OH
 
Toledo, OH
 
1955
 
305,980

 
70.4
%
 
1,549

 
14.17

 
Kroger
 
Big Lots, Harbor Freight Tools
 
-
298

 
Marketplace
 
Tulsa
 
OK
 
Tulsa, OK
 
1992
 
186,851

 
100.0
%
 
1,894

 
10.14

 
-
 
Basset Home Furnishings, Boot Barn, Conn's HomePlus, David's Bridal, PetSmart
 
Best Buy
299

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

 
99.4
%
 
2,905

 
20.81

 
Giant Food (Ahold Delhaize)
 
CVS, Dollar Tree
 
-
300

 
Park Hills Plaza
 
Altoona
 
PA
 
Altoona, PA
 
1985
 
265,200

 
84.9
%
 
2,291

 
10.27

 
Weis Markets
 
A.C. Moore, Dunham's Sports, Harbor Freight, Shoe Carnival, Urban Air Adventure Park
 
-
301

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

 
100.0
%
 
1,966

 
10.95

 
Giant Eagle
 
Walmart, Pep Boys
 
-
302

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

 
97.6
%
 
3,968

 
13.67

 
Giant Food (Ahold Delhaize)
 
Aetna, Big Lots, Citi Trends, Dollar Tree, Fine Wine & Good Spirits, Mega Marshalls, PetSmart, Rite Aid, Staples
 
-
303

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

 
37.0
%
 
1,489

 
15.20

 
-
 
Dollar Tree, Ollie's Bargain Outlet
 
-
304

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

 
69.9
%
 
385

 
11.96

 
-
 
-
 
-
305

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

 
85.8
%
 
2,411

 
19.55

 
Giant Food (Ahold Delhaize)
 
Fine Wine & Good Spirits
 
-
306

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

 
75.1
%
 
1,338

 
16.10

 
Kimberton Whole Foods
 
Pep Boys, Rascal Fitness
 
-
307

 
Plymouth Square Shopping Center (4)
 
Conshohocken
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1959
 
235,728

(4)
70.2
%
(4)
3,266

 
19.73

 
Weis Markets
 
Marshalls, REI
 
-
308

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

 
100.0
%
 
1,983

 
26.64

 
Giant Food (Ahold Delhaize)
 
Wine & Spirits Shoppe
 
-
309

 
Valley Fair
 
Devon
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
2001
 
105,086

 
97.1
%
 
1,041

 
10.20

 
-
 
Chuck E. Cheese's, Mealey's Furniture
 
-
310

 
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
 
-
311

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

 
99.3
%
 
3,546

 
15.03

 
-
 
Kohl's, Marshalls, Regal Cinemas
 
-
312

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

 
100.0
%
 
1,320

 
17.55

 
-
 
Dollar Tree, Ross Dress for Less, Tuesday Morning, US Post Office
 
-
313

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

 
94.8
%
 
953

 
7.09

 
-
 
Big Lots, Ollie's Bargain Outlet, Planet Fitness
 
-
314

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

 
88.5
%
 
1,237

 
13.09

 
Giant Food (Ahold Delhaize)
 
-
 
-
315

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

 
92.9
%
 
986

 
19.47

 
Weis Markets*
 
-
 
-
316

 
Village at Newtown (3)
 
Newtown
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
2019
 
203,296

 
93.9
%
 
5,956

 
32.14

 
McCaffrey's
 
Pier 1 Imports
 
-
317

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

 
100.0
%
 
2,698

 
25.37

 
-
 
Dollar Tree, Fine Wine & Good Spirits, Target
 
-
318

 
Roosevelt Mall (3)
 
Philadelphia
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
2019
 
581,693

 
96.3
%
 
8,696

 
35.21

 
-
 
LA Fitness, Macy's, Modell's Sporting Goods, Rainbow, Ross Dress For Less
 
-
319

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

 
93.3
%
 
1,292

 
7.84

 
Redner's Warehouse Market
 
French Creek Outfitters, Staples
 
-
320

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

 
92.3
%
 
1,543

 
11.26

 
ALDI
 
Dollar Tree, Planet Fitness, Rite Aid, VF Outlet
 
-
321

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

 
100.0
%
 
426

 
10.21

 
Fresh Grocer (Wakefern)*
 
EZ Bargains, Rent-A-Center, Super Dollar City
 
-
322

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

 
100.0
%
 
3,690

 
16.88

 
ShopRite
 
A.C. Moore, Modell's Sporting Goods, Old Navy, Party City, PetSmart, Ross Dress for Less
 
Kohl's
323

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

 
97.6
%
 
799

 
12.91

 
Musser's Markets
 
Penn State Health
 
Kmart
324

 
Whitehall Square
 
Whitehall
 
PA
 
Allentown-Bethlehem-Easton, PA-NJ
 
2006
 
315,192

 
95.3
%
 
3,453

 
11.50

 
Redner's Warehouse Market
 
Dollar Tree, Gabe's, Mealey's Furniture, National Tire & Battery, PetSmart, Ross Dress for Less, Staples
 
-

Supplemental Disclosure - Three Months Ended September 30, 2019
Page 47
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PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
Non-Owned
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
325

 
Wilkes-Barre Township Marketplace
 
Wilkes-Barre
 
PA
 
Scranton--Wilkes-Barre--Hazleton, PA
2004
 
306,440

 
98.3
%
 
2,367

 
33.60

 
Walmart Supercenter
 
Chuck E Cheese, Cracker Barrel, Party City, Shoe Carnival
 
-
326

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

 
93.3
%
 
2,366

 
15.37

 
Kroger
 
Stein Mart
 
-
327

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

 
97.4
%
 
1,578

 
19.18

 
BI-LO (Southeastern Grocers)
 
-
 
-
328

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

 
96.9
%
 
881

 
13.92

 
BI-LO (Southeastern Grocers)
 
-
 
-
329

 
Island Plaza
 
James Island
 
SC
 
Charleston-North Charleston, SC
1994
 
173,524

 
95.5
%
 
1,571

 
9.61

 
Food Lion (Ahold Delhaize)
 
Dollar Tree, Gold's Gym, Tuesday Morning
 
-
330

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

 
96.6
%
 
2,866

 
9.22

 
-
 
Gold's Gym, New Spring Church, New York Beauty and Fashion, Sears Outlet
 
-
331

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

 
98.9
%
 
2,165

 
16.71

 
-
 
Ross Dress for Less, T.J.Maxx
 
Target
332

 
Hillcrest Market Place
 
Spartanburg
 
SC
 
Spartanburg, SC
1965
 
360,277

 
90.7
%
 
4,051

 
13.03

 
Publix
 
Marshalls, NCG Cinemas, Office Depot, Petco, Ross Dress for Less, Stein Mart
 
-
333

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

 
86.1
%
 
549

 
10.82

 
Food Lion (Ahold Delhaize)
 
-
 
-
334

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

 
100.0
%
 
2,743

 
10.44

 
ALDI
 
At Home, Big Lots, Franklin Athletic Club, Trees n Trends
 
-
335

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

 
98.3
%
 
3,853

 
11.83

 
-
 
Family Leisure, Goldfish Swim School, Grace Church Nashville, Hobby Lobby, Painted Tree Marketplace, Planet Fitness
 
-
336

 
Greeneville Commons
 
Greeneville
 
TN
 
Greeneville, TN
 
2002
 
224,139

 
97.1
%
 
1,896

 
8.81

 
-
 
Belk, Burkes Outlet, Five Below, Hobby Lobby, Marshalls, Ross Dress for Less
 
-
337

 
Kingston Overlook
 
Knoxville
 
TN
 
Knoxville, TN
1996
 
122,536

 
100.0
%
 
1,141

 
9.56

 
-
 
Badcock Home Furniture, Sears Outlet, Urban Air Adventure Park
 
-
338

 
The Commons at Wolfcreek (2)
 
Memphis
 
TN
 
Memphis, TN-MS-AR
2014
 
652,349

 
95.4
%
 
9,292

 
15.46

 
-
 
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
339

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

 
90.3
%
 
1,287

 
12.48

 
Kroger
 
Aaron's
 
-
340

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

 
100.0
%
 
1,121

 
12.91

 
Kroger
 
-
 
Walgreens
341

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

 
98.9
%
 
1,342

 
7.44

 
Walmart Supercenter
 
Dollar Tree
 
-
342

 
Parmer Crossing
 
Austin
 
TX
 
Austin-Round Rock, TX
1989
 
169,405

 
98.5
%
 
2,102

 
12.60

 
Desi Brothers
 
Big Lots, Dollar Tree, Harbor Freight Tools, Mega Furniture, Planet Fitness
 
Fry's Electronics
343

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

 
95.3
%
 
1,360

 
14.87

 
-
 
24 Hour Fitness
 
-
344

 
El Camino
 
Bellaire
 
TX
 
Houston-The Woodlands-Sugar Land, TX
2008
 
71,651

 
100.0
%
 
696

 
9.71

 
El Ahorro Supermarket
 
Dollar Tree, Family Dollar
 
-
345

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

 
65.8
%
 
310

 
10.17

 
-
 
99 Cents Only, Citi Trends, Firestone
 
-
346

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

 
90.3
%
 
1,044

 
8.45

 
-
 
Tops Printing
 
-
347

 
Central Station
 
College Station
 
TX
 
College Station-Bryan, TX
1976
 
176,706

 
98.9
%
 
3,006

 
17.61

 
-
 
Dollar Tree, HomeGoods, Party City, Spec's Liquors
 
Kohl's
348

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

 
99.0
%
 
1,416

 
27.53

 
Kroger
 
CVS
 
-
349

 
Carmel Village (3)
 
Corpus Christi
 
TX
 
Corpus Christi, TX
 
2019
 
84,667

 
95.0
%
 
1,017

 
12.64

 
-
 
Crunch Fitness, Dollar Tree, Tuesday Morning
 
-
350

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

 
95.5
%
 
561

 
8.87

 
-
 
Family Dollar
 
-
351

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

 
48.0
%
 
521

 
15.75

 
-
 
Family Dollar
 
-
352

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

 
100.0
%
 
461

 
10.13

 
-
 
Big Lots, O'Reilly Auto Parts
 
-
353

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

 
96.9
%
 
1,130

 
11.24

 
El Rio Grande Latin Market
 
Family Dollar
 
-
354

 
Wynnewood Village (3)
 
Dallas
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2019
 
539,253

 
94.2
%
 
6,009

 
14.16

 
El Rancho, Kroger
 
Fallas, Gen X Clothing, LA Fitness, Maya Cinema, Ross Dress for Less
 
-
355

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

 
96.1
%
 
1,056

 
9.29

 
Food Town
 
Burkes Outlet, Walgreens
 
-
356

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

 
92.6
%
 
733

 
10.64

 
Albertsons
 
-
 
Anytime Fitness
357

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

 
95.4
%
 
15,923

 
21.28

 
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
 
-
358

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

 
92.7
%
 
2,019

 
12.78

 
Tom Thumb (Albertsons)
 
Goody Goody Wine & Spirits, Stein Mart
 
-
359

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

 
88.3
%
 
3,551

 
20.38

 
Tom Thumb (Albertsons)
 
DSW, Ulta
 
-
360

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

 
94.4
%
 
1,121

 
13.35

 
Truong Nguyen Grocer
 
-
 
-

Supplemental Disclosure - Three Months Ended September 30, 2019
Page 48
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PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
Non-Owned
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
361

 
Highland Village Town Center
 
Highland Village
 
TX
 
Dallas-Fort Worth-Arlington, TX
1996
 
99,374

 
96.9
%
 
1,071

 
11.12

 
-
 
Painted Tree Marketplace, Planet Fitness
 
-
362

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

 
94.7
%
 
722

 
10.64

 
Kroger
 
-
 
-
363

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

 
97.0
%
 
974

 
28.77

 
Kroger
 
-
 
-
364

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

 
86.2
%
 
2,152

 
26.86

 
-
 
CVS, Imagination Toys, I W Marks Jewelers
 
-
365

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

 
89.4
%
 
403

 
10.59

 
-
 
-
 
-
366

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

 
98.3
%
 
640

 
7.12

 
Food Town
 
-
 
-
367

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

 
100.0
%
 
947

 
13.17

 
El Ahorro Supermarket
 
Blink Fitness (Equinox), Melrose Fashions
 
-
368

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

 
94.1
%
 
1,497

 
16.11

 
ALDI
 
24 Hour Fitness, Mr. Gatti's Pizza, Spec's Liquors
 
-
369

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

 
96.6
%
 
2,130

 
10.59

 
El Rancho
 
Big Lots, Conn's HomePlus
 
-
370

 
Jester Village (3)
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2019
 
62,665

 
96.7
%
 
1,274

 
21.03

 
-
 
24 Hour Fitness
 
-
371

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

 
82.0
%
 
881

 
9.66

 
-
 
Fitness Connection
 
-
372

 
Jones Square
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
169,786

 
100.0
%
 
1,437

 
8.46

 
-
 
Big Lots, Hobby Lobby
 
-
373

 
Maplewood
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2004
 
99,177

 
99.4
%
 
927

 
9.40

 
Foodarama
 
Burke's Outlet, Kids Empire
 
-
374

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

 
98.7
%
 
3,468

 
14.41

 
Kroger
 
Big Lots, Petco, Ross Dress for Less, Tuesday Morning
 
-
375

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

 
81.4
%
 
271

 
8.28

 
El Rancho*
 
Affordable Furniture, Firestone, TitleMax
 
-
376

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

 
90.2
%
 
2,781

 
13.99

 
Sellers Bros.
 
Conn's HomePlus, Dollar Tree, Office Depot
 
-
377

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

 
85.3
%
 
2,302

 
14.37

 
El Rancho
 
99 Cents Only, dd's Discounts (Ross)
 
-
378

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

 
99.1
%
 
1,853

 
10.56

 
-
 
24 Hour Fitness, Floor & Décor
 
-
379

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

 
95.1
%
 
3,284

 
23.84

 
H-E-B
 
-
 
-
380

 
Tanglewilde Center
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1998
 
83,343

 
100.0
%
 
1,308

 
15.83

 
ALDI
 
Dollar Tree, Party City, Salon In The Park
 
-
381

 
Westheimer Commons
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1984
 
245,714

 
94.3
%
 
2,155

 
9.31

 
Fiesta Mart
 
King Dollar, Marshalls, Sanitas Medical Center
 
-
382

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

 
98.0
%
 
2,580

 
11.19

 
-
 
Hobby Lobby, Palais Royal, Stein Mart
 
-
383

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

 
100.0
%
 
417

 
6.49

 
-
 
AutoZone, Bealls (Stage Stores), Dollar Tree
 
-
384

 
Jefferson Park
 
Mount Pleasant
 
TX
 
Mount Pleasant, TX
 
2001
 
130,096

 
100.0
%
 
968

 
7.44

 
Super 1 Foods
 
Harbor Freight Tools, PetSense
 
-
385

 
Winwood Town Center
 
Odessa
 
TX
 
Odessa, TX
 
2002
 
372,534

 
100.0
%
 
3,290

 
13.98

 
H-E-B
 
dd's Discounts (Ross), Michaels, Office Depot, Party City, Ross Dress for Less, Target
 
-
386

 
Crossroads Centre - Pasadena
 
Pasadena
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1997
 
146,567

 
95.2
%
 
2,024

 
15.49

 
Kroger
 
LA Fitness
 
-
387

 
Spencer Square
 
Pasadena
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1998
 
186,732

 
92.2
%
 
2,061

 
12.33

 
Kroger
 
Burkes Outlet
 
-
388

 
Pearland Plaza
 
Pearland
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1995
 
156,491

 
94.6
%
 
1,279

 
8.64

 
Kroger
 
American Freight Furniture, Harbor Freight Tools, Walgreens
 
-
389

 
Market Plaza
 
Plano
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2002
 
142,058

 
86.1
%
 
2,650

 
22.68

 
Central Market (H-E-B)
 
-
 
-
390

 
Preston Park Village
 
Plano
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1985
 
270,128

 
82.5
%
 
5,581

 
25.04

 
-
 
Gap Factory Store, Infinite Bounds Gymnastics
 
-
391

 
Keegan's Meadow
 
Stafford
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
125,293

 
97.9
%
 
1,319

 
11.07

 
El Rancho
 
Palais Royal
 
-
392

 
Texas City Bay
 
Texas City
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2005
 
224,514

 
92.3
%
 
2,070

 
10.10

 
Kroger
 
Conn's HomePlus, Harbor Freight Tools, Planet Fitness
 
-
393

 
Windvale Center
 
The Woodlands
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2002
 
101,088

 
98.3
%
 
1,168

 
27.79

 
-
 
-
 
-
394

 
The Centre at Navarro
 
Victoria
 
TX
 
Victoria, TX
 
2005
 
66,102

 
96.2
%
 
757

 
16.65

 
ALDI
 
Planet Fitness, Walgreens
 
-
395

 
Spradlin Farm
 
Christiansburg
 
VA
 
Blacksburg-Christiansburg-Radford, VA
 
2000
 
181,055

 
97.7
%
 
2,664

 
15.32

 
-
 
Barnes & Noble, Big Lots, Michaels, Petco, T.J.Maxx
 
Target, The Home Depot
396

 
Culpeper Town Square
 
Culpeper
 
VA
 
Washington-Arlington-Alexandria, DC-VA-MD-WV
 
1999
 
132,882

 
100.0
%
 
1,222

 
9.20

 
-
 
Mountain Run Bowling, Tractor Supply Co.
 
-
397

 
Hanover Square
 
Mechanicsville
 
VA
 
Richmond, VA
 
1991
 
140,448

 
94.1
%
 
2,029

 
15.36

 
-
 
Gold's Gym, Hobby Lobby
 
Kohl's
398

 
Tuckernuck Square
 
Richmond
 
VA
 
Richmond, VA
 
1981
 
86,010

 
94.8
%
 
1,268

 
15.56

 
-
 
2nd & Charles, Chuck E. Cheese's
 
-
399

 
Cave Spring Corners
 
Roanoke
 
VA
 
Roanoke, VA
 
2005
 
147,133

 
100.0
%
 
1,219

 
13.81

 
Kroger
 
Hamrick's
 
-
400

 
Hunting Hills
 
Roanoke
 
VA
 
Roanoke, VA
 
1989
 
167,875

 
95.3
%
 
1,470

 
9.28

 
-
 
Dollar Tree, Kohl's, PetSmart
 
-
401

 
Hilltop Plaza
 
Virginia Beach
 
VA
 
Virginia Beach-Norfolk-Newport News, VA-NC
 
2010
 
150,300

 
97.7
%
 
2,858

 
21.50

 
Trader Joe's
 
JOANN, Kirkland’s, PetSmart, Ulta
 
-
402

 
Ridgeview Centre
 
Wise
 
VA
 
Big Stone Gap, VA
 
1990
 
190,242

 
78.6
%
 
1,160

 
7.75

 
-
 
Dollar Tree, Grand Home Furnishings, Harbor Freight Tools, Marshalls, Ollie's Bargain Outlet
 
Belk

Supplemental Disclosure - Three Months Ended September 30, 2019
Page 49
logo.jpg




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
Non-Owned
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
403

 
Rutland Plaza
 
Rutland
 
VT
 
Rutland, VT
 
1997
 
224,514

 
98.1
%
 
1,943

 
8.82

 
Price Chopper
 
Dollar Tree, Flagship Cinemas, T.J.Maxx, Walmart
 
-
404

 
Spring Mall
 
Greenfield
 
WI
 
Milwaukee-Waukesha-West Allis, WI
2003
 
165,692

 
25.9
%
 
431

 
10.03

 
-
 
T.J.Maxx
 
Walgreens
405

 
Mequon Pavilions
 
Mequon
 
WI
 
Milwaukee-Waukesha-West Allis, WI
 
1967
 
219,230

 
95.3
%
 
3,385

 
16.20

 
Sendik's Food Market
 
Bed Bath & Beyond, DSW, Marshalls
 
-
406

 
Moorland Square Shopping Center
 
New Berlin
 
WI
 
Milwaukee-Waukesha-West Allis, WI
 
1990
 
98,303

 
98.7
%
 
992

 
10.22

 
Pick 'n Save (Kroger)
 
-
 
-
407

 
Paradise Pavilion
 
West Bend
 
WI
 
Milwaukee-Waukesha-West Allis, WI
 
2000
 
203,545

 
95.2
%
 
1,402

 
7.24

 
-
 
Hobby Lobby, Kohl's
 
-
408

 
Moundsville Plaza
 
Moundsville
 
WV
 
Wheeling, WV-OH
 
2004
 
176,156

 
98.3
%
 
1,303

 
7.53

 
Kroger
 
Big Lots, Dunham's Sports, Peebles
 
-
409

 
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
 
 
 
 
 
 
 
 
71,540,493
 
(4)
91.9
%
(4)
$
892,997

 
$
14.59

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(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.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(4) Plymouth Square Shopping Center excludes square footage related to the anticipated relocation of Brixmor's regional office.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2019
Page 50
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