EX-99.2 3 brx8k10302017ex992.htm EX 99.2 Exhibit
Exhibit 99.2


suppcoverq3a01.jpg



 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SUPPLEMENTAL DISCLOSURE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





TABLE OF CONTENTS
 
 
 
 
 
 
 
 
 
 
 
 
Page
 
 
 
Glossary of Terms
1
 
 
 
Results Overview
3
 
 
 
Financial Summary
 
 
 
 
 
Consolidated Balance Sheets
5
 
 
 
 
Consolidated Statements of Operations
6
 
 
 
 
EBITDA
7
 
 
 
 
Funds From Operations (FFO)
8
 
 
 
 
Supplemental Balance Sheet Detail
9
 
 
 
 
NOI & Supplemental Statement of Operations Detail
10
 
 
 
 
Same Property NOI Analysis
11
 
 
 
 
Capital Expenditures
12
 
 
 
 
Capitalization, Liquidity & Debt Ratios
13
 
 
 
 
Debt Overview
14
 
 
 
 
Summary of Outstanding Debt
15
 
 
 
 
Covenant Disclosure
16
 
 
 
Investment Summary
 
 
 
 
 
Acquisitions
18
 
 
 
 
Dispositions
19
 
 
 
 
Anchor Space Repositioning Summary
20
 
 
 
 
Outparcel Development & New Development Summary
22
 
 
 
 
Redevelopment Summary
23
 
 
 
 
Future Redevelopment Opportunities
25
 
 
 
Portfolio Summary
 
 
 
 
 
Portfolio Overview
28
 
 
 
 
Top Forty Retailers Ranked by ABR
29
 
 
 
 
New & Renewal Lease Summary
30
 
 
 
 
New Lease Net Effective Rent
31
 
 
 
 
Lease Expiration Schedule
32
 
 
 
 
Properties by Largest US MSAs
33
 
 
 
 
Largest MSAs by ABR
35
 
 
 
 
Properties by State
38
 
 
 
 
Property List
39
 
 
 
Guidance
 
 
 
 
 
Guidance & Additional Disclosures
51
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Note: Financial information is unaudited.
 
 
 
 
 
 
 
 
 
For additional information, please visit www.brixmor.com, follow Brixmor on Twitter at www.twitter.com/Brixmor or find Brixmor on LinkedIn at www.linkedin.com/company/brixmor.
 
 
 
 
 
 
 
 
This Supplemental Disclosure may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to the Company’s expectations regarding the performance of its business, its financial results, its liquidity and capital resources and other non-historical statements. You can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including those described under the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this document and in the Company’s filings with the SEC. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 



Supplemental Disclosure - Three Months Ended September 30, 2017

 
jpgstandardlogoa21.jpg




GLOSSARY OF TERMS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Term
 
Definition
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Anchor Spaces
 
Spaces equal to or greater than 10,000 square feet ("SF") of GLA.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Anchor Space Repositioning
 
Anchor leasing that is primarily focused on reconfiguring or significantly remerchandising existing space with minimal work required outside of normal
 
 
 
tenant improvement costs.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Annualized Base Rent ("ABR")
 
Monthly base rent as of a specified date, under leases which have been signed or commenced as of the specified date, multiplied by 12. Annualized base
 
 
 
rent (i) excludes tenant reimbursements of expenses, such as operating expenses, insurance expenses and real estate taxes, (ii) does not reflect amounts
 
 
 
due per percentage rent lease terms, (iii) is calculated on a cash basis and differs from how rent is calculated in accordance with generally accepted
 
 
 
accounting principles in the United States of America (“GAAP”) for purposes of financial statements and (iv) does not include ancillary income.
 
 
 
 
 
 
 
 
 
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 Stabilization
 
Development projects are deemed stabilized upon the earlier of (i) reaching 90% billed or (ii) one year after the property is placed in service.
 
 
 
 
 
EBITDA, Adjusted EBITDA & Cash
 
Supplemental, non-GAAP performance measures. Please see below for more information on the limitations of non-GAAP performance measures.
 
Adjusted EBITDA

 
A reconciliation of net income to EBITDA is provided on page 7.
 
 
 
EBITDA is calculated as the sum of net income (loss) presented in accordance with GAAP before interest expense, federal and state taxes, and
 
 
 
depreciation and amortization. Adjusted EBITDA represents EBITDA as adjusted for (i) gain (loss) on disposition of operating properties, (ii) gain (loss) on
 
 
 
disposition of unconsolidated joint venture interest, (iii) impairment of real estate assets and real estate equity investments, (iv) gain (loss) on extinguishment
 
 
 
of debt, (v) other items that the Company believes are not indicative of the Company's operating performance. Cash Adjusted EBITDA represents Adjusted
 
 
 
EBITDA as adjusted for straight-line rental income, amortization of above- and below-market rent and tenant inducements and straight-line ground rent
 
 
 
expense. EBITDA, Adjusted EBITDA & Cash Adjusted EBITDA include the Company's unconsolidated joint venture at pro rata share.
 
 
 
 
 
 
 
 
 
 
 
Gross Leasable Area ("GLA")
 
Represents the total amount of leasable property square footage.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Leased GLA
 
Aggregate GLA of all signed or commenced leases, as of a specified date.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
LIBOR
 
London Interbank Offered Rate.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Metropolitan Statistical Area ("MSA")
Defined by the United States Office of Management and Budget as a region associated with at least one urbanized area that has a population of at
 
 
 
least 50,000 and comprises the central county or counties containing the core, plus adjacent outlying counties having a high degree of social and
 
 
 
economic integration with the central county or counties as measured through commuting.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NAREIT
 
National Association of Real Estate Investment Trusts.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NAREIT Funds From Operations (“FFO")
A supplemental, non-GAAP performance measure. Please see below for more information on the limitations of non-GAAP performance measures.
 
 
 
A reconciliation of net income to NAREIT FFO is provided on page 8.
 
 
 
 
 
 
 
NAREIT defines FFO as net income (loss) presented in accordance with GAAP excluding (i) gain (loss) on disposition of operating properties, and
 
 
 
(ii) extraordinary items, plus (iii) depreciation and amortization of operating properties, (iv) impairment of operating properties and real estate equity
 
 
 
investments, and (v) after adjustments for unconsolidated joint ventures calculated to reflect FFO on the same basis.
 
 
 
 
 
 
 
 
 
 
 
Net Effective Rent
 
Average ABR over the lease term adjusted for tenant improvements and allowances, tenant specific landlord work and third party leasing commissions.
 
 
 
 
 
 
 
 
 
 
 
Net Operating Income ("NOI")
 
A supplemental, non-GAAP performance measure. Please see below for more information on the limitations of non-GAAP performance measures.
 
 
 
A reconciliation of NOI to net income is provided on page 10.
 
 
 
 
 
 
 
Calculated as total property revenues (base rent, ancillary and other, expense reimbursements, and percentage rents) less direct property operating
 
 
 
expenses (operating costs, real estate taxes and provision for doubtful accounts). NOI excludes corporate level income (including management,
 
 
 
transaction, and other fees), lease termination fees, straight-line rental income, amortization of above- and below-market rent and tenant inducements,
 
 
 
straight-line ground rent expense and the Company's unconsolidated joint venture.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 income or other ancillary credits).
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-controlling Interests
 
Relate to the portion of Brixmor Operating Partnership LP ("OP”), a consolidated subsidiary, held by the non-controlling interest holders. As of September
 
 
 
30, 2017, the Company, through its 100% ownership of BPG Subsidiary, Inc., owns 100% of the OP.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-owned Major Tenant
 
Also known as a shadow anchor. Represents tenants that are situated on parcels which are owned by unrelated third parties, but, due to their location
 
 
 
within or immediately adjacent to a shopping center, appear to the consumer as another retail tenant of the shopping center and, as a result, attract
 
 
 
additional customer traffic to the center.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outparcel
 
Refers to a portion of a shopping center, separate from the main retail buildings and generally located on the outer edge of a property, which may
 
 
 
currently, or in the future, contain one or several freestanding buildings.
 
 
 
 
 
 
 
 
 
 
 
Percent Billed
 
Billed GLA as a percentage of total GLA.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent Leased
 
Leased GLA as a percentage of total GLA.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PSF
 
Per square foot of GLA.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Redevelopment
 
Larger scale projects that typically involve new construction, reconfiguration or demolition of a portion of the shopping center to accommodate
 
 
 
new retailers.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Rent Spread
 
Represents 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 the same location to extend the term of an expiring lease. Renewals that include the
 
 
 
expansion of an existing tenant into space that has been vacant for longer than 12 months are non-comparable and excluded from Renewal
 
 
 
Rent Spreads.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Option Rent Spread
 
Includes renewal options exercised by tenants in the same location to extend the term of an expiring lease.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Rent Spread
 
Combined spreads for new, renewal and option leases.
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2017
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. Same Property NOI excludes income /
 
 
 
expense associated with the Company's captive insurance entity.
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of Properties in Same Property NOI Analysis:
 
 
 
 
 
 
 
 
 
 
 
As of 9/30/17
 
 
 
 
 
 
Total properties in Brixmor Property Group portfolio
 
498
 
 
 
 
 
 
 
Acquired properties excluded from same property NOI
 
(2)
 
 
 
 
 
 
 
Additional exclusions
 
(1)
 
 
 
 
 
 
 
Same property NOI pool
 
495
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Active redevelopment properties
 
(14)
 
 
 
 
 
 
 
Completed redevelopment properties
 
(1)
 
 
 
 
 
 
 
Total redevelopment properties
 
(15)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Same property NOI excluding redevelopments pool
 
480
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Small Shop Spaces
 
Spaces less than 10,000 SF of GLA.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Straight-line Rent
 
Non-cash revenue related to GAAP requirement to average the tenant's contractual rent payments over the life of the lease, regardless of the actual
 
 
 
cash collected in the reporting period.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year Built
 
Year of most recent redevelopment or year built if no redevelopment has occurred.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-GAAP Performance Measures
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The Company's non-GAAP performance measures have limitations as they do not include all items of income and expense that affect operations, and accordingly, should always be considered
 
as supplemental financial results to those presented in accordance with GAAP.
 
 
 
 
 
Non-GAAP performance measures should not be considered as alternatives to, or more meaningful than, net income (presented in accordance with GAAP) or other GAAP financial measures
 
as indicators of financial performance and are not alternatives to, or more meaningful than, cash flow from operating activities (presented in accordance with GAAP) as a measure of liquidity.
 
Computation of non-GAAP performance measures may differ in certain respects from the methodology utilized by other REITs and, therefore, may not be comparable to similarly titled measures
 
presented by such other REITs. Investors are cautioned that items excluded from non-GAAP performance measures are relevant to understanding and addressing financial performance.
 
 
 
 
 
 
 
 
 
 
 
The Company believes that the non-GAAP measures it presents are useful to investors for the following reasons:
 
 
 
 
 
  • NAREIT FFO
 
NAREIT FFO assists investors in analyzing Brixmor’s comparative operational and financial performance because, by excluding gains and losses related
 
 
 
to dispositions of previously depreciated operating properties, real estate-related depreciation and amortization of continuing operations, impairment
 
 
 
of operating properties and real estate equity investments, extraordinary items, and after adjustments for joint ventures calculated to reflect FFO on the
 
 
 
same basis, investors can compare the operational performance of a company’s real estate between periods.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  • EBITDA, Adjusted EBITDA & Cash
 
EBITDA, Adjusted EBITDA & Cash Adjusted EBITDA are utilized in various financial ratios as a measure of Brixmor's operational and financial performance
 
       Adjusted EBITDA

 
because EBITDA, Adjusted EBITDA & Cash Adjusted EBITDA exclude various items that the Company believes are not indicative of its operational
 
 
 
performance. Accordingly, the use of EBITDA, Adjusted EBITDA & Cash Adjusted EBITDA in various ratios provides a meaningful performance measure as it
 
 
 
relates to the Company's ability to meet various coverage tests.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  • Same Property NOI
 
Same property NOI eliminates disparities in NOI due to the acquisition, disposition or stabilization of development properties during the period presented,
 
 
 
and therefore, provides a more consistent metric for comparing operational performance. Management uses same property NOI to review operational
 
 
 
results for comparative purposes with respect to previous periods or forecasts, and also to evaluate future prospects.
 
 
 
 
 
 
 
 
 
 
 
 
 
In addition, the Company presents these supplemental non-GAAP performance measures because the Company believes that these measures are helpful to and frequently used by securities
 
analysts, investors and other interested parties in the evaluation of REITs.
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2017
Page 2
jpgstandardlogoa21.jpg


RESULTS OVERVIEW
 
 
 
 
 
 
 
 
 
 
Unaudited, dollars in thousands, except per share and per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
Summary Financial Results
 
9/30/17
 
9/30/16
 
9/30/17
 
9/30/16
 
 
 
 
Total revenues (page 6)
 
$
314,496

 
$
318,577

 
$
963,120

 
$
951,738

 
 
 
 
Net income attributable to common stockholders (page 6)
 
83,380

 
57,492

 
230,358

 
182,425

 
 
 
 
Net income attributable to common stockholders - per diluted share (page 6)
 
0.27

 
0.19

 
0.75

 
0.61

 
 
 
 
Adjusted EBITDA (page 7)
 
216,473

 
216,453

 
659,914

 
654,503

 
 
 
 
Cash adjusted EBITDA (page 7)
 
207,141

 
204,117

 
624,085

 
616,874

 
 
 
 
NAREIT FFO (page 8)
 
157,246

 
154,919

 
480,676

 
468,926

 
 
 
 
NAREIT FFO per share/OP Unit - diluted (page 8)
 
0.52

 
0.51

 
1.58

 
1.54

 
 
 
 
 
Items that impact FFO comparability, net per share (page 8)
 
(0.00
)
 
(0.01
)
 
(0.01
)
 
(0.03
)
 
 
 
 
Share/ OP Unit Dividends declared per share/OP Unit (page 8)
 
0.260

 
0.245

 
0.780

 
0.735

 
 
 
 
Share/OP Unit Dividend payout ratio (as % of NAREIT FFO) (page 8)
 
50.4
%
 
48.2
%
 
49.5
%
 
47.8
%
 
 
 
 
NOI (page 10)
 
225,947

 
223,796

 
680,923

 
670,772

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Summary Operating and Financial Ratios
 
9/30/17
 
6/30/17
 
3/31/17
 
12/31/16
 
9/30/16
 
 
NOI margin (page 10)
 
74.6
%
 
74.3
%
 
72.8
%
 
73.2
%
 
73.4
%
 
 
Same property NOI growth (page 11) (1) (2)
 
1.5
%
 
1.3
%
 
3.2
%
 
1.6
%
 
2.0
%
 
 
Fixed charge coverage (page 13)
 
3.5x

 
3.5x

 
3.6x

 
3.6x

 
3.4x

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

 
6.4x

 
6.6x

 
6.5x

 
6.7x

 
 
Net principal debt to Cash Adjusted EBITDA (page 13) (3)
 
6.8x

 
6.9x

 
7.0x

 
6.9x

 
7.1x

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding Classes of Stock and Partnership Units
 
At 9/30/17
 
At 6/30/17
 
At 3/31/17
 
At 12/31/16
 
At 9/30/16
 
 
Common shares outstanding (page 13)
 
304,937

 
304,936

 
304,893

 
304,343

 
304,321

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

 

 

 
378

 
378

 
 
Total
 
304,937

 
304,936

 
304,893

 
304,721

 
304,699

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Summary Portfolio Statistics (4)
 
At 9/30/17
 
At 6/30/17
 
At 3/31/17
 
At 12/31/16
 
At 9/30/16
 
 
Number of properties (page 28)
 
498

 
507

 
510

 
512

 
514

 
 
Percent billed (page 28)
 
89.6
%
 
89.9
%
 
90.4
%
 
90.7
%
 
90.6
%
 
 
Percent leased (page 28)
 
91.6
%
 
92.0
%
 
92.5
%
 
92.8
%
 
92.6
%
 
 
ABR PSF (page 28)
 
$
13.28

 
$
13.21

 
$
13.12

 
$
12.99

 
$
12.90

 
 
New lease rent spread (page 30)
 
20.7
%
 
36.1
%
 
36.7
%
 
39.3
%
 
26.2
%
 
 
New & renewal lease rent spread (page 30)
 
12.7
%
 
16.8
%
 
16.4
%
 
19.1
%
 
14.7
%
 
 
Total - new, renewal & option lease rent spread (page 30)
 
10.2
%
 
13.7
%
 
13.4
%
 
14.5
%
 
10.9
%
 
 
Total - new, renewal & option GLA (page 30)
 
3,419,078

 
2,896,416

 
2,664,063

 
2,974,137

 
3,548,517

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) The same property NOI growth rate for the quarter ended September 30, 2016 is based on same property NOI for the quarter ended September 30, 2015 as originally reported by the Company.
Additional information regarding 2015 Same Property NOI is available in the press release issued by the Company on February 8, 2016 in connection with an Audit Committee review of historical
Same Property NOI.
 
 
 
 
 
 
 
 
 
 
(2) Reflects same property NOI as reported for the specified period.
 
 
 
 
 
 
 
 
 
(3) For purposes of financial ratios, Adjusted EBITDA and Cash Adjusted EBITDA are annualized based on the current quarter results.
(4) Prior periods are not adjusted for sold properties.






Supplemental Disclosure - Three Months Ended September 30, 2017
Page 3
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FINANCIAL SUMMARY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure
Three Months Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





CONSOLIDATED BALANCE SHEETS
 
 
 
 
Unaudited, dollars in thousands, except share information
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of
 
As of
 
 
 
 
 
 
9/30/17
 
12/31/16
 
 
Assets
 
 
 
 
 
 
Real estate
 
 
 
 
 
 
 
Land
$
1,985,781

 
$
2,006,655

 
 
 
 
Buildings and tenant improvements
8,078,566

 
8,043,855

 
 
 
 
Construction in progress
65,412

 
121,817

 
 
 
 
Lease intangibles
800,760

 
836,731

 
 
 
 
 
 
10,930,519

 
11,009,058

 
 
 
 
Accumulated depreciation and amortization
(2,320,090
)
 
(2,167,054
)
 
 
 
Real estate, net
8,610,429

 
8,842,004

 
 
 
Investments in and advances to unconsolidated joint venture

 
7,921

 
 
 
Cash and cash equivalents
29,978

 
51,402

 
 
 
Restricted cash
112,040

 
51,467

 
 
 
Marketable securities
28,840

 
25,573

 
 
 
Receivables, net of allowance for doubtful accounts of $16,177 and $16,756
219,873

 
178,216

 
 
 
Deferred charges and prepaid expenses, net
143,140

 
122,787

 
 
 
Other assets
51,920

 
40,315

 
 
Total assets
$
9,196,220

 
$
9,319,685

 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
Debt obligations, net
$
5,713,688

 
$
5,838,889

 
 
 
Accounts payable, accrued expenses and other liabilities
561,191

 
553,636

 
 
Total liabilities
6,274,879

 
6,392,525

 
 
 
 
 
 
 
 
 
 
 
Equity
 
 
 
 
 
 
Common stock, $0.01 par value; authorized 3,000,000,000 shares;
 
 
 
 
 
 
 
304,937,144 and 304,343,141 shares outstanding
3,049

 
3,043

 
 
 
Additional paid-in capital
3,333,696

 
3,324,874

 
 
 
Accumulated other comprehensive income
20,054

 
21,519

 
 
 
Distributions in excess of net income
(435,458
)
 
(426,552
)
 
 
Total stockholders' equity
2,921,341

 
2,922,884

 
 
 
Non-controlling interests

 
4,276

 
 
Total equity
2,921,341

 
2,927,160

 
 
Total liabilities and equity
$
9,196,220

 
$
9,319,685

 




Supplemental Disclosure - Three Months Ended September 30, 2017
Page 5
jpgstandardlogoa21.jpg




CONSOLIDATED STATEMENTS OF OPERATIONS
 
 
 
 
Unaudited, dollars in thousands, except per share amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
 
 
9/30/17
 
9/30/16
 
9/30/17
 
9/30/16
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
Rental income
$
246,578

 
$
247,859

 
$
749,976

 
$
744,580

 
 
Expense reimbursements
66,489

 
69,469

 
206,718

 
200,944

 
 
Other revenues
1,429

 
1,249

 
6,426

 
6,214

 
Total revenues
314,496

 
318,577

 
963,120

 
951,738

 
 
 
 
 
 
 
 
 
 
 
 
 
Operating expenses
 
 
 
 
 
 
 
 
 
Operating costs
30,505

 
31,041

 
100,955

 
97,507

 
 
Real estate taxes
45,076

 
47,812

 
135,607

 
130,886

 
 
Depreciation and amortization
94,239

 
98,337

 
285,040

 
294,634

 
 
Provision for doubtful accounts
1,216

 
2,218

 
4,023

 
6,579

 
 
Impairment of real estate assets
11,065

 
1,971

 
27,383

 
1,971

 
 
General and administrative
22,838

 
21,787

 
67,043

 
69,709

 
Total operating expenses
204,939

 
203,166

 
620,051

 
601,286

 
 
 
 
 
 
 
 
 
 
 
 
 
Other income (expense)
 
 
 
 
 
 
 
 
 
Dividends and interest
76

 
89

 
234

 
481

 
 
Interest expense
(57,410
)
 
(57,855
)
 
(170,584
)
 
(171,482
)
 
 
Gain on sale of real estate assets
25,942

 
2,450

 
54,920

 
10,232

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

 
(1,042
)
 
488

 
(949
)
 
 
Other
(1,200
)
 
(1,370
)
 
(2,591
)
 
(4,258
)
 
Total other expense
(30,764
)
 
(57,728
)
 
(117,533
)
 
(165,976
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Income before equity in income of unconsolidated joint venture
78,793

 
57,683

 
225,536

 
184,476

 
Equity in income of unconsolidated joint venture
31

 
122

 
381

 
348

 
Gain on disposition of unconsolidated joint venture interest
4,556

 

 
4,556

 

 
Net income
83,380

 
57,805

 
230,473

 
184,824

 
Net income attributable to non-controlling interests

 
(313
)
 
(76
)
 
(2,399
)
 
Net income attributable to Brixmor Property Group Inc.
83,380

 
57,492

 
230,397

 
182,425

 
Preferred stock dividends

 

 
(39
)
 

 
Net income attributable to common stockholders
$
83,380

 
$
57,492

 
$
230,358

 
$
182,425

 
 
 
 
 
 
 
 
 
 
 
 
 
Per common share:
 
 
 
 
 
 
 
 
 
Net income attributable to common stockholders:
 
 
 
 
 
 
 
 
 
 
Basic
$
0.27

 
$
0.19

 
$
0.76

 
$
0.61

 
 
 
Diluted
$
0.27

 
$
0.19

 
$
0.75

 
$
0.61

 
 
Weighted average shares:
 
 
 
 
 
 
 
 
 
 
Basic
304,936

 
303,013

 
304,810

 
300,697

 
 
 
Diluted
305,176

 
303,521

 
305,175

 
301,146





Supplemental Disclosure - Three Months Ended September 30, 2017
Page 6
jpgstandardlogoa21.jpg




EBITDA
 
 
 
 
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
 
 
9/30/17
 
9/30/16
 
9/30/17
 
9/30/16
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income
$
83,380

 
$
57,805

 
$
230,473

 
$
184,824

 
 
Interest expense - continuing operations
57,410

 
57,855

 
170,584

 
171,482

 
 
Interest expense - unconsolidated joint venture

 
42

 

 
126

 
 
Federal and state taxes
542

 
815

 
2,509

 
2,604

 
 
Depreciation and amortization - continuing operations
94,239

 
98,337

 
285,040

 
294,634

 
 
Depreciation and amortization - unconsolidated joint venture

 
23

 
56

 
68

 
EBITDA
$
235,571

 
$
214,877

 
$
688,662

 
$
653,738

 
 
 
 
 
 
 
 
 
 
 
 
 
EBITDA
$
235,571

 
$
214,877

 
$
688,662

 
$
653,738

 
 
Gain on disposition of operating properties
(25,942
)
 
(2,450
)
 
(54,920
)
 
(10,232
)
 
 
Gain on disposition of unconsolidated joint venture interest
(4,556
)
 

 
(4,556
)
 

 
 
Impairment of real estate assets
11,065

 
1,971

 
27,383

 
1,971

 
 
(Gain) loss on extinguishment of debt, net
(1,828
)
 
1,042

 
(488
)
 
949

 
 
Litigation and other non-routine legal expenses
1,959

 
614

 
3,629

 
958

 
 
Transaction expenses
204

 
85

 
204

 
296

 
 
Shareholder equity offering expenses

 
314

 

 
764

 
 
Audit committee review expenses

 

 

 
3,711

 
 
Executive severance expenses

 

 

 
2,260

 
 
Executive equity based compensation (1)

 

 

 
88

 
 
Total adjustments
(19,098
)
 
1,576

 
(28,748
)
 
765

 
Adjusted EBITDA
$
216,473

 
$
216,453

 
$
659,914

 
$
654,503

 
 
 
 
 
 
 
 
 
 
 
Adjusted EBITDA
$
216,473

 
$
216,453

 
$
659,914

 
$
654,503

 
 
Straight-line rental income, net (2)
(2,397
)
 
(3,324
)
 
(14,484
)
 
(9,838
)
 
 
Amortization of above- and below-market rent and tenant inducements, net (3)
(6,966
)
 
(9,090
)
 
(21,449
)
 
(28,766
)
 
 
Straight-line ground rent expense (4)
31

 
78

 
104

 
975

 
 
Total adjustments
(9,332
)
 
(12,336
)
 
(35,829
)
 
(37,629
)
 
Cash adjusted EBITDA
$
207,141

 
$
204,117

 
$
624,085

 
$
616,874

 
 
 
 
 
 
 
 
 
 
 
 
(1) Represents equity based compensation expense associated with executive departures for the nine months ended September 30, 2016.
(2) Includes unconsolidated joint venture Montecito Marketplace straight-line rental expense, net of $4 and $2 at pro rata share for the three and nine months ended September 30, 2017, respectively; and straight-line rental income, net of $10 and $5 at pro rata share for the three and nine months ended September 30, 2016, respectively. Montecito Marketplace was sold on August 8, 2017.
(3) Includes unconsolidated joint venture Montecito Marketplace amortization of above- and below-market rent and tenant inducements of $2 and $15 at pro rata share for the three and nine months ended September 30, 2017, respectively; and amortization of above- and below-market rent and tenant inducements of $7 and $22 at pro rata share for the three and nine months ended September 30, 2016, respectively. Montecito Marketplace was sold on August 8, 2017.
(4) Straight-line ground rent expense is included in Operating costs on the Consolidated Statements of Operations.




Supplemental Disclosure - Three Months Ended September 30, 2017
Page 7
jpgstandardlogoa21.jpg




FUNDS FROM OPERATIONS (FFO)
 
 
 
 
Unaudited, dollars in thousands, except per share amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
 
 
9/30/17
 
9/30/16
 
9/30/17
 
9/30/16
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income
$
83,380

 
$
57,805

 
$
230,473

 
$
184,824

 
 
Gain on disposition of operating properties
(25,942
)
 
(2,450
)
 
(54,920
)
 
(10,232
)
 
 
Gain on disposition of unconsolidated joint venture interest
(4,556
)
 

 
(4,556
)
 

 
 
Depreciation and amortization- real estate related- continuing operations
93,299

 
97,570

 
282,240

 
292,295

 
 
Depreciation and amortization- real estate related- unconsolidated joint venture

 
23

 
56

 
68

 
 
Impairment of operating properties
11,065

 
1,971

 
27,383

 
1,971

 
NAREIT FFO
$
157,246

 
$
154,919

 
$
480,676

 
$
468,926

 
 
 
 
 
 
 
 
 
 
 
 
 
NAREIT FFO per share/OP Unit - diluted
$
0.52

 
$
0.51

 
$
1.58

 
$
1.54

 
Weighted average shares/OP Units outstanding - basic and diluted
305,176

 
305,167

 
305,175

 
305,026

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

 
$
(1,042
)
 
$
488

 
$
(949
)
 
 
Litigation and other non-routine legal expenses
(1,959
)
 
(614
)
 
(3,629
)
 
(958
)
 
 
Transaction expenses
(204
)
 
(85
)
 
(204
)
 
(296
)
 
 
Shareholder equity offering expenses

 
(314
)
 

 
(764
)
 
 
Audit committee review expenses

 

 

 
(3,711
)
 
 
Executive severance expenses

 

 

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

 

 

 
(88
)
 
Total items that impact FFO comparability
$
(335
)
 
$
(2,055
)
 
$
(3,345
)
 
$
(9,026
)
 
Items that impact FFO comparability, net per share
$
(0.00
)
 
$
(0.01
)
 
$
(0.01
)
 
$
(0.03
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Additional Disclosures
 
 
 
 
 
 
 
 
 
Straight-line rental income, net (2)
$
2,397

 
$
3,324

 
$
14,484

 
$
9,838

 
 
Amortization of above- and below-market rent and tenant inducements, net (3)
6,966

 
9,090

 
21,449

 
28,766

 
 
Straight-line ground rent expense (4)
(31
)
 
(78
)
 
(104
)
 
(975
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Dividends declared per share/OP Unit
$
0.260

 
$
0.245

 
$
0.780

 
$
0.735

 
Share/OP Unit Dividends declared
$
79,283

 
$
74,651

 
$
237,839

 
$
223,932

 
Share/OP Unit Dividend payout ratio (as % of NAREIT FFO)
50.4
%
 
48.2
%
 
49.5
%
 
47.8
%
 
 
 
 
 
 
 
 
 
 
 
 
(1) Represents equity based compensation expense associated with executive departures for the nine months ended September 30, 2016.
(2) Includes unconsolidated joint venture Montecito Marketplace straight-line rental expense, net of $4 and $2 at pro rata share for the three and nine months ended September 30, 2017, respectively; and straight-line rental income, net of $10 and $5 at pro rata share for the three and nine months ended September 30, 2016, respectively. Montecito Marketplace was sold on August 8, 2017.
(3) Includes unconsolidated joint venture Montecito Marketplace amortization of above- and below-market rent and tenant inducements of $2 and $15 at pro rata share for the three and nine months ended September 30, 2017, respectively; and amortization of above- and below-market rent and tenant inducements of $7 and $22 at pro rata share for the three and nine months ended September 30, 2016, respectively. Montecito Marketplace was sold on August 8, 2017.
(4) Straight-line ground rent expense is included in Operating costs on the Consolidated Statements of Operations.






Supplemental Disclosure - Three Months Ended September 30, 2017
Page 8
jpgstandardlogoa21.jpg




SUPPLEMENTAL BALANCE SHEET DETAIL
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of
 
As of
 
 
 
 
 
9/30/17
 
12/31/16
 
 
 
 
 
 
 
 
 
Receivables, net
 
 
 
 
 
Straight-line rent receivable
$
115,271

 
$
101,675

 
 
Tenant receivables
89,158

 
88,878

 
 
Allowance for doubtful accounts
(16,177
)
 
(16,756
)
 
 
Insurance receivable (1)
28,000

 

 
 
Other
3,621

 
4,419

 
 
Total receivables, net
$
219,873

 
$
178,216

 
 
 
 
 
 
 
 
 
Deferred charges and prepaid expenses, net
 
 
 
 
 
Deferred charges, net
$
113,285

 
$
102,777

 
 
Prepaid expenses, net
29,855

 
20,010

 
 
Total deferred charges and prepaid expenses, net
$
143,140

 
$
122,787

 
 
 
 
 
 
 
 
 
Other assets
 
 
 
 
 
Interest rate swaps
$
20,171

 
$
21,605

 
 
Furniture, fixtures and leasehold improvements, net
17,399

 
16,000

 
 
Real estate assets held for sale
8,223

 

 
 
Other
6,127

 
2,710

 
 
Total other assets
$
51,920

 
$
40,315

 
 
 
 
 
 
 
 
 
Accounts payable, accrued expenses and other liabilities
 
 
 
 
 
Accounts payable and other accrued expenses
$
214,394

 
$
204,059

 
 
Below market leases, net
191,374

 
223,505

 
 
Dividends payable
81,070

 
80,612

 
 
Accrued litigation (1)
28,000

 

 
 
Other
46,353

 
45,460

 
 
Total accounts payable, accrued expenses and other liabilities
$
561,191

 
$
553,636

 
 
 
 
 
 
 
 
(1) The Company entered into a settlement agreement to settle 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-Q, filed with the Securities and Exchange Commission on October 30, 2017




Supplemental Disclosure - Three Months Ended September 30, 2017
Page 9
jpgstandardlogoa21.jpg




NOI & SUPPLEMENTAL STATEMENT OF OPERATIONS DETAIL
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
 
 
9/30/17
 
9/30/16
 
9/30/17
 
9/30/16
 
Net Operating Income Detail (1)
 
 
 
 
 
 
 
 
 
Base rent
$
230,694

 
$
229,785

 
$
696,674

 
$
686,208

 
 
Ancillary and other
4,284

 
4,503

 
11,906

 
12,258

 
 
Expense reimbursements
66,489

 
69,469

 
206,718

 
200,944

 
 
Percentage rents
1,246

 
1,032

 
6,106

 
5,359

 
 
Operating costs
(30,474
)
 
(30,963
)
 
(100,851
)
 
(96,532
)
 
 
Real estate taxes
(45,076
)
 
(47,812
)
 
(135,607
)
 
(130,886
)
 
 
Provision for doubtful accounts
(1,216
)
 
(2,218
)
 
(4,023
)
 
(6,579
)
 
Net operating income
$
225,947

 
$
223,796

 
$
680,923

 
$
670,772

 
 
 
 
 
 
 
 
 
 
 
 
 
Operating Ratios
 
 
 
 
 
 
 
 
 
NOI margin (NOI / revenues)
74.6
%
 
73.4
%
 
73.9
%
 
74.1
%
 
 
Expense recovery ratio (expense reimbursements / (operating costs + real estate taxes))
88.0
%
 
88.2
%
 
87.4
%
 
88.4
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Reconciliation of Net Operating Income to Net Income Attributable to Common Stockholders
 
 
 
 
 
 
 
 
Net operating income
$
225,947

 
$
223,796

 
$
680,923

 
$
670,772

 
 
Lease termination fees
2,235

 
1,174

 
5,476

 
7,537

 
 
Straight-line rental income, net
2,401

 
3,314

 
14,486

 
9,833

 
 
Amortization of above- and below-market rent and tenant inducements, net
6,964

 
9,083

 
21,434

 
28,744

 
 
Fee income
183

 
217

 
320

 
855

 
 
Straight-line ground rent expense (2)
(31
)
 
(78
)
 
(104
)
 
(975
)
 
 
Depreciation and amortization
(94,239
)
 
(98,337
)
 
(285,040
)
 
(294,634
)
 
 
Impairment of real estate assets
(11,065
)
 
(1,971
)
 
(27,383
)
 
(1,971
)
 
 
General and administrative
(22,838
)
 
(21,787
)
 
(67,043
)
 
(69,709
)
 
 
Total other expense
(30,764
)
 
(57,728
)
 
(117,533
)
 
(165,976
)
 
 
Equity in income of unconsolidated joint venture
31

 
122

 
381

 
348

 
 
Gain on disposition of unconsolidated joint venture interest
4,556

 

 
4,556

 

 
 
Net income attributable to non-controlling interests

 
(313
)
 
(76
)
 
(2,399
)
 
 
Preferred stock dividends

 

 
(39
)
 

 
Net income attributable to common stockholders
$
83,380

 
$
57,492

 
$
230,358

 
$
182,425

 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Statement of Operations Detail
 
 
 
 
 
 
 
 
Rental income
 
 
 
 
 
 
 
 
 
Base rent
$
230,694

 
$
229,785

 
$
696,674

 
$
686,208

 
 
Lease termination fees
2,235

 
1,174

 
5,476

 
7,537

 
 
Straight-line rental income, net
2,401

 
3,314

 
14,486

 
9,833

 
 
Amortization of above- and below-market rent and tenant inducements, net
6,964

 
9,083

 
21,434

 
28,744

 
 
Ancillary and other
4,284

 
4,503

 
11,906

 
12,258

 
 
Total rental income
$
246,578

 
$
247,859

 
$
749,976

 
$
744,580

 
 
 
 
 
 
 
 
 
 
 
 
 
Other revenues
 
 
 
 
 
 
 
 
 
Percentage rents
$
1,246

 
$
1,032

 
$
6,106

 
$
5,359

 
 
Fee income
183

 
217

 
320

 
855

 
 
Total other revenues
$
1,429

 
$
1,249

 
$
6,426

 
$
6,214

 
 
 
 
 
 
 
 
 
 
 
 
 
Other (income) expense
 
 
 
 
 
 
 
 
 
Interest expense
 
 
 
 
 
 
 
 
 
 
Mortgage, note and other interest
$
46,644

 
$
46,959

 
$
136,488

 
$
137,023

 
 
 
Unsecured credit facility and term loan interest
10,852

 
12,564

 
35,452

 
41,180

 
 
 
Capitalized interest
(572
)
 
(749
)
 
(2,268
)
 
(1,918
)
 
 
 
Deferred financing cost amortization
1,709

 
1,939

 
5,283

 
5,827

 
 
 
Debt premium amortization, net
(1,223
)
 
(2,858
)
 
(4,371
)
 
(10,630
)
 
 
 
Total interest expense
$
57,410

 
$
57,855

 
$
170,584

 
$
171,482

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other
 
 
 
 
 
 
 
 
 
 
Federal and state taxes
$
542

 
$
815

 
$
2,509

 
$
2,604

 
 
 
Other
658

 
555

 
82

 
1,654

 
 
 
Total other
$
1,200

 
$
1,370

 
$
2,591

 
$
4,258

 
 
 
 
 
 
 
 
 
 
 
 
 
Additional G&A Disclosures
 
 
 
 
 
 
 
 
 
Equity based compensation (3)
2,864

 
3,463

 
7,838

 
8,041

 
 
Capitalized direct leasing compensation costs
3,528

 
3,648

 
10,620

 
11,460

 
 
Capitalized direct construction compensation costs
1,836

 
1,724

 
5,767

 
4,841

 
 
 
 
 
 
 
 
 
 
 
 
(1) NOI excludes unconsolidated joint venture Montecito Marketplace NOI of $48 and $461 at pro rata share for the three and nine months ended September 30, 2017, respectively; and NOI of $184 and $552 at pro rata share for the three and nine months ended September 30, 2016, respectively. Montecito Marketplace was sold on August 8, 2017.
(2) Straight-line ground rent expense is included in Operating costs on the Consolidated Statements of Operations.
(3) Includes amortization of non-cash equity based compensation, including forfeitures of $88 associated with executive departures for the nine months ended September 30, 2016.

Supplemental Disclosure - Three Months Ended September 30, 2017
Page 10
jpgstandardlogoa21.jpg




SAME PROPERTY NOI ANALYSIS
 
 
 
 
 
 
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
 
 
Nine Months Ended
 
 
 
 
 
 
 
 
9/30/17
 
9/30/16
 
Change
 
9/30/17
 
9/30/16
 
Change
 
Same Property NOI Analysis
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of properties
 
495

 
495

 
 
495

 
495

 
 
Percent billed
 
89.6
%
 
90.5
%
 
(0.9%)
 
89.6
%
 
90.5
%
 
(0.9%)
 
Percent leased
 
91.6
%
 
92.5
%
 
(0.9%)
 
91.6
%
 
92.5
%
 
(0.9%)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Base rent
 
$
225,812

 
$
222,902

 
 
 
$
678,707

 
$
664,849

 
 
 
 
Ancillary and other
 
4,160

 
4,386

 
 
 
11,560

 
11,978

 
 
 
 
Expense reimbursements
 
64,916

 
67,497

 
 
 
201,211

 
195,040

 
 
 
 
Percentage rents
 
1,245

 
1,032

 
 
 
6,009

 
5,194

 
 
 
 
 
 
 
 
296,133

 
295,817

 
0.1%
 
897,487

 
877,061

 
2.3%
 
Operating expenses
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating costs
 
(30,720
)
 
(30,239
)
 
 
 
(98,903
)
 
(94,018
)
 
 
 
 
Real estate taxes
 
(43,941
)
 
(46,485
)
 
 
 
(132,039
)
 
(127,404
)
 
 
 
 
Provision for doubtful accounts
 
(1,169
)
 
(2,052
)
 
 
 
(3,904
)
 
(6,303
)
 
 
 
 
 
 
 
 
(75,830
)
 
(78,776
)
 
(3.7%)
 
(234,846
)
 
(227,725
)
 
3.1%
 
Same property NOI
 
$
220,303

 
$
217,041

 
1.5%
 
$
662,641

 
$
649,336

 
2.0%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Same property NOI excluding redevelopments (1)
 
$
205,680

 
$
203,071

 
1.3%
 
$
618,757

 
$
607,336

 
1.9%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NOI margin
 
74.4
%
 
73.4
%
 
 
 
73.8
%
 
74.0
%
 
 
 
Expense recovery ratio
 
86.9
%
 
88.0
%
 
 
 
87.1
%
 
88.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent contribution to same property NOI growth:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Change
 
Percent Contribution
 
 
 
Change
 
Percent Contribution
 
 
 
 
Base rent
 
$
2,910

 
1.3%
 
 
 
$
13,858

 
2.1%
 
 
 
 
Ancillary and other
 
(226
)
 
(0.1%)
 
 
 
(418
)
 
(0.1%)
 
 
 
 
Net recoveries
 
(518
)
 
(0.2%)
 
 
 
(3,349
)
 
(0.5%)
 
 
 
 
Percentage rents
 
213

 
0.1%
 
 
 
815

 
0.1%
 
 
 
 
Provision for doubtful accounts
 
883

 
0.4%
 
 
 
2,399

 
0.4%
 
 
 
 
 
 
 
 
 
 
1.5%
 
 
 
 
 
2.0%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Reconciliation of Net Income Attributable to Common Stockholders to Same Property NOI
 
 
 
 
 
 
 
 
 
Same property NOI
 
$
220,303

 
$
217,041

 
 
 
$
662,641

 
$
649,336

 
 
 
Adjustments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-same property NOI
 
5,644

 
6,755

 
 
 
18,282

 
21,436

 
 
 
 
Lease termination fees
 
2,235

 
1,174

 
 
 
5,476

 
7,537

 
 
 
 
Straight-line rental income
 
2,401

 
3,314

 
 
 
14,486

 
9,833

 
 
 
 
Amortization of above- and below-market rent and tenant inducements, net
 
6,964

 
9,083

 
 
 
21,434

 
28,744

 
 
 
 
Fee income
 
183

 
217

 
 
 
320

 
855

 
 
 
 
Straight-line ground rent expense
 
(31
)
 
(78
)
 
 
 
(104
)
 
(975
)
 
 
 
 
Depreciation and amortization
 
(94,239
)
 
(98,337
)
 
 
 
(285,040
)
 
(294,634
)
 
 
 
 
Impairment of real estate assets
 
(11,065
)
 
(1,971
)
 
 
 
(27,383
)
 
(1,971
)
 
 
 
 
General and administrative
 
(22,838
)
 
(21,787
)
 
 
 
(67,043
)
 
(69,709
)
 
 
 
 
Total other expense
 
(30,764
)
 
(57,728
)
 
 
 
(117,533
)
 
(165,976
)
 
 
 
 
Equity in income of unconsolidated joint venture
 
31

 
122

 
 
 
381

 
348

 
 
 
 
Gain on disposition of unconsolidated joint venture interest
 
4,556

 

 
 
 
4,556

 

 
 
 
 
Net income attributable to non-controlling interests
 

 
(313
)
 
 
 
(76
)
 
(2,399
)
 
 
 
 
Preferred stock dividends
 

 

 
 
 
(39
)
 

 
 
 
Net income attributable to common stockholders
 
$
83,380

 
$
57,492

 
 
 
$
230,358

 
$
182,425

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



Supplemental Disclosure - Three Months Ended September 30, 2017
Page 11
jpgstandardlogoa21.jpg




CAPITAL EXPENDITURES
 
 
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
 
 
9/30/17
 
9/30/17
 
 
 
 
 
 
 
 
 
Leasing related:
 
 
 
 
 
Tenant improvements and tenant inducements
$
20,208

 
$
56,999

 
 
External leasing commissions
2,346

 
6,380

 
 
 
 
 
22,554

 
63,379

 
 
 
 
 
 
 
 
 
Value-enhancing:
 
 
 
 
 
Anchor space repositionings
9,977

 
18,561

 
 
Outparcel developments
1,520

 
4,295

 
 
Redevelopments
8,391

 
31,042

 
 
New development
9,638

 
12,149

 
 
 
 
 
29,526

 
66,047

 
 
 
 
 
 
 
 
 
Maintenance capital expenditures
11,711

 
17,996

 
 
 
 
 
 
 
 
 
 
 
 
 
$
63,791

 
$
147,422

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Includes unconsolidated joint venture, Montecito Marketplace, at pro rata share. Montecito Marketplace was sold on August 8, 2017.
 
 
 




Supplemental Disclosure - Three Months Ended September 30, 2017
Page 12
jpgstandardlogoa21.jpg




CAPITALIZATION, LIQUIDITY & DEBT RATIOS
 
 
 
 
Unaudited, dollars and shares in thousands except per share amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of
 
As of
 
 
 
 
 
 
 
 
 
 
9/30/17
 
12/31/16
 
 
Equity Capitalization:
 
 
 
 
 
 
 
 
 
 
Common shares outstanding
 
 
 
 
304,937

 
304,343

 
 
 
Exchangeable OP Units held by non-controlling interests
 
 
 

 
378

 
 
 
 
 
 
 
 
 
 
304,937

 
304,721

 
 
Common share price
 
 
 
 
$
18.80

 
$
24.42

 
 
Total equity capitalization
 
 
 
 
$
5,732,816

 
$
7,441,287

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt:
 
 
 
 
 
 
 
 
 
 
 
Revolving credit facility
 
 
 
 
$

 
$
122,000

 
 
 
Term loans
 
 
 
 
1,610,000

 
2,100,000

 
 
 
Unsecured notes
 
 
 
 
3,218,453

 
2,318,453

 
 
 
Secured mortgages
 
 
 
 
915,936

 
1,312,292

 
 
Total principal debt
 
 
 
 
5,744,389

 
5,852,745

 
 
Add: Net unamortized premium
 
 
 
 
2,838

 
16,092

 
 
Less: Deferred financing fees
 
 
 
 
(33,539
)
 
(29,948
)
 
 
Total debt
 
 
 
 
5,713,688

 
5,838,889

 
 
Less: cash, cash equivalents and restricted cash
 
 
 
 
(142,018
)
 
(102,869
)
 
 
Net debt
 
 
 
 
$
5,571,670

 
$
5,736,020

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total market capitalization:
 
 
 
 
$
11,304,486

 
$
13,177,307

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liquidity:
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents and restricted cash
 
 
 
 
$
142,018

 
$
102,869

 
 
 
Available under revolving credit facility (1)
 
 
 
 
1,249,329

 
1,128,000

 
 
 
 
 
 
 
 
 
 
$
1,391,347

 
$
1,230,869

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratios:
 
 
 
 
 
 
 
 
 
 
Principal debt to total market capitalization
 
 
 
 
50.8
%
 
44.4
%
 
 
 
Principal debt to total assets, before depreciation
 
 
 

49.9
%
 
51.0
%
 
 
 
Secured principal debt to total assets, before depreciation
 
 
 
8.0
%
 
11.4
%
 
 
 
Net principal debt to Adjusted EBITDA (2)
 
 
 
 
6.5x

 
6.5x

 
 
 
Net principal debt to Cash Adjusted EBITDA (2)
 
 
 
 
6.8x

 
6.9x

 
 
 
Unencumbered assets to unsecured debt
 
 
 
 
1.9x

 
1.9x

 
 
 
Interest coverage (Adjusted EBITDA / interest expense) (2)
 
 
 
3.8x

 
4.0x

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

 
3.6x

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

 
3.6x

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of
 
As of
 
 
 
 
 
 
 
 
 
 
9/30/17
 
12/31/16
 
 
 
Percentage of total debt:
 
 
 
 
 
 
 
 
 
 
 
Fixed
 
 
 
 
96.3
%
 
86.0
%
 
 
 
 
Variable
 
 
 
 
3.7
%
 
14.0
%
 
 
 
Unencumbered summary:
 
 
 
 
 
 
 
 
 
 
 
Percent of properties
 
 
 
 
75.7
%
 
72.8
%
 
 
 
 
Percent of ABR
 
 
 
 
79.1
%
 
75.9
%
 
 
 
 
Percent of NOI
 
 
 
 
79.5
%
 
76.1
%
 
 
 
Weighted average maturity (years):
 
 
 
 
 
 
 
 
 
 
 
Fixed
 
 
 
 
5.3

 
5.2

 
 
 
 
Variable
 
 
 
 
6.8

 
1.9

 
 
 
 
Total
 
 
 
 
5.4

 
4.7

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Credit Ratings & Outlook:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fitch Ratings
BBB-
 Stable
 
 
 
 
 
 
Moody's Investors Service
Baa3
 Stable
 
 
 
 
 
 
Standard & Poor's Ratings Services
BBB-
 Stable
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Funds available under the revolving credit facility are reduced by an outstanding letter of credit of $671.
 
 
 
 
(2) For purposes of financial ratios, Adjusted EBITDA and Cash Adjusted EBITDA are annualized based on the current quarter results.
 
Excludes unconsolidated joint venture, Montecito Marketplace. Montecito Marketplace was sold on August 8, 2017.
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2017
Page 13
jpgstandardlogoa21.jpg




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

 
Scheduled Maturities

 
Total

 
Weighted Avg Stated Interest Rate

 
 
 
 
 
 
 
2017
 
 
 
$
4,448

 
$
8,717

 
$
13,165

 
6.31
%
 
 
 
 
 
 
 
2018
 
 
 
17,892

 
210,000

 
227,892

 
2.48
%
 
 
 
 
 
 
 
2019
 
 
 
18,437

 
600,000

 
618,437

 
2.37
%
 
 
 
 
 
 
 
2020
 
 
 
14,319

 
658,898

 
673,217

 
6.15
%
 
 
 
 
 
 
 
2021
 
 
 

 
686,225

 
686,225

 
3.49
%
 
 
 
 
 
 
 
2022
 
 
 

 
500,000

 
500,000

 
3.88
%
 
 
 
 
 
 
 
2023
 
 
 

 
500,000

 
500,000

 
3.25
%
 
 
 
 
 
 
 
2024
 
 
 

 
807,000

 
807,000

 
3.42
%
 
 
 
 
 
 
 
2025
 
 
 

 
700,000

 
700,000

 
3.85
%
 
 
 
 
 
 
 
2026
 
 
 

 
607,542

 
607,542

 
4.17
%
 
 
 
 
 
 
 
2027+
 
 
 

 
410,911

 
410,911

 
3.98
%
 
 
 
 
 
 
 
Total Debt Maturities
 
$
55,096

 
$
5,689,293

 
$
5,744,389

 
3.80
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unamortized premium
 
2,838

 
 
 
 
 
 
 
 
 
 
 
 
 
Deferred financing costs
 
(33,539
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt obligations, net
 
 
$
5,713,688

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

 
Scheduled Maturities

 
Weighted Avg Stated Interest Rate

 
Scheduled Maturities

 
Weighted Avg Stated Interest Rate

 
Scheduled Maturities

 
Weighted Avg Stated Interest Rate

 
 
 
2017
 
$
4,448

 
$
8,717

 
6.31
%
 
$

 

 
$

 

 
 
 
2018
 
17,892

 

 
6.22
%
 

 

 
210,000

 
2.17
%
 
 
 
2019
 
18,437

 

 
6.17
%
 

 

 
600,000

 
2.26
%
 
 
 
2020
 
14,319

 
658,898

 
6.15
%
 

 

 

 

 
 
 
2021
 

 
186,225

 
6.24
%
 

 

 
500,000

 
2.46
%
 
 
 
2022
 

 

 

 
500,000

 
3.88
%
 

 

 
 
 
2023
 

 

 

 
500,000

 
3.25
%
 

 

 
 
 
2024
 

 
7,000

 
4.40
%
 
500,000

 
3.65
%
 
300,000

 
3.01
%
 
 
 
2025
 

 

 

 
700,000

 
3.85
%
 

 

 
 
 
2026
 

 

 

 
607,542

 
4.17
%
 

 

 
 
 
2027+
 

 

 

 
410,911

 
3.98
%
 

 

 
 
 
Total Debt Maturities
 
$
55,096

 
$
860,840

 
6.16
%
 
$
3,218,453

 
3.81
%
 
$
1,610,000

 
2.45
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) No scheduled amortization prior to maturity dates.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2017
Page 14
jpgstandardlogoa21.jpg




SUMMARY OF OUTSTANDING DEBT
 
 
 
 
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding
 
Weighted Average
 
Maturity
 
Percent of
 
 
Loan / Property Name
 
 
Balance
 
Stated Interest Rate
 
Date
 
Total Indebtedness
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FIXED RATE DEBT:
 
 
 
 
 
 
 
 
 
 
 
 
Secured Mortgages
 
 
 
 
 
 
 
 
 
 
 
 
Whitaker Square (1)
 
 
$
8,744

 
6.32
%
 
12/1/17
 
0.15
%
 
 
 
Christmas Tree Plaza
 
 
863

 
7.89
%
 
5/11/18
 
0.02
%
 
 
 
 LP - JPM CMBS (72 properties)
 
 
342,258

 
6.27
%
 
8/1/20
 
5.96
%
 
 
 
Monroe Plaza
 
 
8,088

 
6.50
%
 
8/1/20
 
0.14
%
 
 
 
Bethel Park Shopping Center
 
 
9,412

 
6.50
%
 
8/1/20
 
0.16
%
 
 
 
Ivyridge
 
 
13,110

 
6.50
%
 
8/1/20
 
0.23
%
 
 
 
Roosevelt Mall
 
 
46,735

 
6.50
%
 
8/1/20
 
0.81
%
 
 
 
Inland (Brixmor/IA, LLC) - Pool A (9 properties)
 
 
96,985

 
5.91
%
 
12/6/20
 
1.69
%
 
 
 
Inland (Brixmor/IA, LLC) - Pool B (8 properties)
 
 
88,828

 
5.91
%
 
12/6/20
 
1.55
%
 
 
 
Inland (Brixmor/IA, LLC) - Pool C (7 properties)
 
 
95,151

 
5.91
%
 
12/31/20
 
1.66
%
 
 
 
REIT 20 LP 51 A (4 properties)
 
 
46,122

 
6.24
%
 
1/6/21
 
0.80
%
 
 
 
REIT 20 LP 45 B (4 properties)
 
 
41,468

 
6.24
%
 
1/6/21
 
0.72
%
 
 
 
REIT 20 LP 42 C (4 properties)
 
 
38,766

 
6.24
%
 
1/6/21
 
0.67
%
 
 
 
REIT 20 LP 37 D (3 properties)
 
 
33,477

 
6.24
%
 
1/6/21
 
0.58
%
 
 
 
REIT 20 LP 43 E (4 properties)
 
 
38,929

 
6.24
%
 
1/6/21
 
0.68
%
 
 
 
Larchmont Centre
 
 
7,000

 
4.40
%
 
3/1/24
 
0.12
%
 
 
 
TOTAL FIXED RATE SECURED MORTGAGES
 
 
915,936

 
6.16
%
 
 
 
15.94
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured fixed rate debt
 
 
 
 
 
 
 
 
 
 
 
 
Term Loan Facility - Tranche A (2)
 
 
$
210,000

 
2.17
%
 
7/31/18
 
3.66
%
 
 
 
Term Loan Facility - $600M (3)
 
 
600,000

 
2.26
%
 
3/18/19
 
10.44
%
 
 
 
Term Loan Facility - Tranche B (4)
 
 
500,000

 
2.46
%
 
7/31/21
 
8.70
%
 
 
 
Term Loan Facility - $300M (5)
 
 
90,000

 
2.72
%
 
7/26/24
 
1.57
%
 
 
 
TOTAL UNSECURED FIXED RATE DEBT
 
 
1,400,000

 
2.35
%
 
 
 
24.37
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured Notes
 
 
 
 
 
 
 
 
 
 
 
 
3.88%, 2022 Brixmor OP Notes
 
 
$
500,000

 
3.88
%
 
8/15/22
 
8.70
%
 
 
 
3.25%, 2023 Brixmor OP Notes
 
 
500,000

 
3.25
%
 
9/15/23
 
8.70
%
 
 
 
3.65%, 2024 Brixmor OP Notes
 
 
500,000

 
3.65
%
 
6/15/24
 
8.70
%
 
 
 
3.85%, 2025 Brixmor OP Notes
 
 
700,000

 
3.85
%
 
2/28/25
 
12.19
%
 
 
 
4.13%, 2026 Brixmor OP Notes
 
 
600,000

 
4.13
%
 
6/15/26
 
10.45
%
 
 
 
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
 
0.11
%
 
 
 
7.68%, 2026 Brixmor LLC Notes I
 
 
748

 
7.68
%
 
11/2/26
 
0.01
%
 
 
 
3.90%, 2027 Brixmor OP Notes
 
 
400,000

 
3.90
%
 
3/15/27
 
6.96
%
 
 
 
6.90%, 2028 Brixmor LLC Notes I
 
 
2,222

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

 
6.90
%
 
2/15/28
 
0.10
%
 
 
 
7.50%, 2029 Brixmor LLC Notes
 
 
3,203

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

 
3.81
%
 
 
 
56.03
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL FIXED RATE DEBT
 
 
$
5,534,389

 
3.83
%
 
 
 
96.34
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
VARIABLE RATE DEBT:
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured variable rate debt
 
 
 
 
 
 
 
 
 
 
 
 
Term Loan Facility - $300M (Libor + 190 bps)
 
 
$
210,000

 
3.14
%
 
7/26/24
 
3.66
%
 
 
 
TOTAL UNSECURED VARIABLE RATE DEBT
 
 
210,000

 
3.14
%
 
 
 
3.66
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL VARIABLE RATE DEBT
 
 
$
210,000

 
3.14
%
 
 
 
3.66
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL DEBT OBLIGATIONS
 
 
$
5,744,389

 
3.80
%
 
 
 
100.00
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unamortized premium
 
2,838

 
 
 
 
 
 
 
 
 
 
Deferred financing costs
 
(33,539
)
 
 
 
 
 
 
 
 
 
 
DEBT OBLIGATIONS, NET
 
$
5,713,688

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Whitaker Square was repaid on October 2, 2017.
 
(2) Effective November 1, 2016, $210,000 of the Term Loan Facility - Tranche A is swapped from one-month Libor to a fixed rate of 0.8165% (plus a spread of 135bps) through July 31, 2018.
 
(3) Effective November 1, 2016, $200,000 of the Term Loan Facility - $600M is swapped from one-month Libor to a combined fixed rate of 0.818% (plus a spread of 140bps) through July 31, 2018, and the remaining $400,000 is swapped from one-month Libor to a fixed rate of 0.878% (plus a spread of 140bps) through March 18, 2019.
 
(4) Effective November 1, 2016, the $500,000 Term Loan Facility - Tranche B is swapped from one-month Libor to a fixed rate of 1.113% (plus a spread of 135bps) through July 30, 2021.
 
(5) Effective July 28, 2017, $90,000 of the Term Loan Facility - $300M is swapped from one-month Libor to a fixed rate of 0.8165% (plus a spread of 190bps) through July 31, 2018.
 

Supplemental Disclosure - Three Months Ended September 30, 2017
Page 15
jpgstandardlogoa21.jpg




COVENANT DISCLOSURE
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured OP Notes Covenant Disclosure
 
 
 
 
 
 
 
 
 
 
 
 
 
Covenants
 
As of 9/30/17
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 I. Aggregate debt test
 
 < 65%
 
50.6
%
 
 
 
 
 
Total Debt
 
 
 
5,713,688

 
 
 
 
 
Total Assets
 
 
 
11,296,433

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
II. Secured debt test
 
< 40%
 
8.3
%
 
 
 
 
 
Total Secured Debt
 
 
 
932,589

 
 
 
 
 
Total Assets
 
 
 
11,296,433

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
III. Unencumbered asset ratio
 
 > 150%
 
187.5
%
 
 
 
 
 
Total Unencumbered Assets
 
 
 
8,962,451

 
 
 
 
 
Unsecured Debt
 
 
 
4,781,099

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
IV. Debt service test
 
 > 1.5x
 
3.9x

 
 
 
 
 
Consolidated EBITDA
 
 
 
878,370

 
 
 
 
 
Annual Debt Service Charge
 
 
 
223,781

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For detailed descriptions of the unsecured OP notes covenant calculations and definitions of capitalized terms please refer to the Prospectus Supplements filed
 
 
by the OP with the Securities and Exchange Commission on January 15, 2015, August 3, 2015, June 6, 2016, August 17, 2016, March 3, 2017 and June 5, 2017 and the
 
 
notes and indenture incorporated therein by reference.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured Credit Facility Covenant Disclosure
 
 
 
 
 
 
 
 
 
 
 
 
 
Covenants
 
As of 9/30/17
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 I. Leverage ratio
 
 < 60%
 
40.8
%
 
 
 
 
 
Total Outstanding Indebtedness
 
 
 
5,744,389

 
 
 
 
 
Balance Sheet Cash
 
 
 
144,973

 
 
 
 
 
Total Asset Value
 
 
 
13,739,089

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
II. Secured leverage ratio
 
< 40%
 
5.6
%
 
 
 
 
 
Total Secured Indebtedness
 
 
 
915,936

 
 
 
 
 
Balance Sheet Cash
 
 
144,973

 
 
 
 
 
Total Asset Value
 
 
 
13,739,089

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
III. Unsecured leverage ratio
 
 < 60%
 
44.0
%
 
 
 
 
 
Total Unsecured Indebtedness
 
 
 
4,828,453

 
 
 
 
 
Unrestricted Cash
 
 
 
32,933

 
 
 
 
 
Unencumbered Asset Value
 
 
10,911,263

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
IV. Fixed charge coverage ratio
 
 > 1.5x
 
3.8x

 
 
 
 
 
Total Net Operating Income
 
 
 
924,980

 
 
 
 
 
Capital Expenditure Reserve
 
 
 
12,611

 
 
 
 
 
Fixed Charges
 
 
 
239,315

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


Supplemental Disclosure - Three Months Ended September 30, 2017
Page 16
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INVESTMENT SUMMARY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure
Three Months Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





ACQUISITIONS
Dollars in thousands, except ABR PSF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
MSA
 
Purchase Date
 
Purchase Price
 
GLA / Acres
 
Percent Leased
 
 ABR
PSF
 
Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended 3/31/17
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outparcel building adjacent to Annex of Arlington
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2/9/17
 
$
1,000

 
5,760

 
100.0%
 
$
32.83

 
 
 
 
Outparcel adjacent to Northeast Plaza
 
Atlanta-Sandy Springs-Roswell, GA
 
2/28/17
 
1,500

 
 2.11 acres

 
 

 
 
 
 
Arborland Center
 
Ann Arbor, MI
 
3/1/17
 
102,000

 
403,536

 
96.4%
 
16.18

 
Kroger, Nordstrom Rack, Marshalls, Ulta, DSW, Starbucks
 
 
 
 
 
 
 
 
 
$
104,500

 
409,296

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 / 2.11 acres

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended 6/30/17
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Building adjacent to Preston Park
 
Dallas-Fort Worth-Arlington, TX
 
4/28/17
 
$
3,980

 
31,080

 
100.0%
 
$
7.72

 
Infinite Bounds
 
 
 
Outparcel building adjacent to Cobblestone
Village
 
Jacksonville, FL
 
5/11/17
 
1,300

 
4,403

 
100.0%
 
22.46

 
Black Molly Grill
 
 
 
Outparcel adjacent to Wynnewood Village
 
Dallas-Fort Worth-Arlington, TX
 
5/12/17
 
1,600

 
 1.38 acres

 
 

 
 
 
 
 
 
 
 
 
 
$
6,880

 
35,483

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 / 1.38 acres

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL - NINE MONTHS ENDED 9/30/17
 
 
$
111,380

 
444,779

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 / 3.49 acres

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




Supplemental Disclosure - Three Months Ended September 30, 2017
Page 18
jpgstandardlogoa21.jpg




DISPOSITIONS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except ABR PSF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
MSA
 
 
Sale Date
 
Sale Price
 
GLA / Acres
 
Percent Leased
 
ABR PSF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended 3/31/17
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Killingly Plaza
 
Worcester, MA-CT
 
2/27/17
 
$
6,700

 
76,960

 
98.7
%
 
$
8.02

 
 
North Park
 
Macon, GA
 
3/31/17
 
17,200

 
216,795

 
98.8
%
 
6.40

 
 
Perry Marketplace
 
Warner Robins, GA
 
3/31/17
 
11,565

 
179,973

 
78.4
%
 
7.11

 
 
 
 
 
 
 
 
 
$
35,465

 
473,728

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended 6/30/17
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Walmart Supercenter at Liberty Plaza
 
Baltimore-Columbia-Towson, MD
 
5/17/17
 
$
28,525

 
160,908

 
100.0%

 
$
10.63

 
 
Eustis Village
 
Orlando-Kissimmee-Sanford, FL
 
5/19/17
 
23,500

 
156,927

 
96.9%

 
11.47

 
 
Walmart at Market Centre
 
Elkhart-Goshen, IN
 
6/14/17
 
1,950

 
116,215

 
100.0%

 
3.66

 
 
Fitchburg Ridge Shopping Center
 
Madison, WI
 
6/21/17
 
5,750

 
50,555

 
83.6%

 
12.08

 
 
McKinley Plaza
 
Buffalo-Cheektowaga-Niagara Falls, NY
 
6/29/17
 
15,750

 
95,544

 
97.9%

 
15.13

 
 
 
 
 
 
 
 
 
$
75,475

 
580,149

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended 9/30/17
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Frankfort Crossing Shopping Center
 
Chicago-Naperville-Elgin, IL-IN-WI
 
7/6/17
 
$
20,750

 
114,534

 
93.3
%
 
$
12.96

 
 
Montecito Marketplace (1)
 
Las Vegas-Henderson-Paradise, NV
 
8/8/17
 
12,710

 
190,434

 
100.0
%
 
30.76

 
 
Rising Sun Towne Centre
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
8/30/17
 
22,775

 
146,852

 
100.0
%
 
12.59

 
 
Green River Plaza
 
Campbellsville, KY
 
8/31/17
 
12,903

 
198,315

 
99.0
%
 
7.25

 
 
Renaissance Center East
 
Las Vegas-Henderson-Paradise, NV
 
9/1/17
 
12,400

 
144,216

 
78.4
%
 
11.63

 
 
The Shoppes at North Ridgeville
 
Cleveland-Elyria, OH
 
9/14/17
 
5,550

 
59,852

 
100.0
%
 
14.82

 
 
Gilbertsville Shopping Center
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
9/26/17
 
9,500

 
85,576

 
95.6
%
 
10.19

 
 
Hornell Plaza
 
Corning, NY
 
9/29/17
 
24,850

 
253,335

 
100.0
%
 
8.32

 
 
Genesee Valley Shopping Center
 
Rochester, NY
 
9/29/17
 
18,550

 
191,314

 
89.3
%
 
9.82

 
 
 
 
 
 
 
 
 
$
139,988

 
1,384,428

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL - NINE MONTHS ENDED 9/30/17
 
 
$
250,928

 
2,438,305

 
 
 
 
 


(1) Property was held in an unconsolidated joint venture in which the Company owned 20%. Sale price is presented at pro rata share.

Supplemental Disclosure - Three Months Ended September 30, 2017
Page 19
jpgstandardlogoa21.jpg




ANCHOR SPACE REPOSITIONING SUMMARY
Dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
 
MSA
 
 
 
 
 
 
 
Description
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
IN PROCESS ANCHOR SPACE REPOSITIONINGS
 
 
 
 
 
 
New Projects Added To In Process Pipeline During The Three Months Ended September 30, 2017
 
 
 
 
 
1

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

Hampton Village Centre - Project 2
 
Detroit-Warren-Dearborn, MI
 
 
Relocate and reconfigure four small shop spaces to accommodate a 14K SF Petco
 
 
3

Wadsworth Crossings
 
Cleveland-Elyria, OH
 
 
 
Remerchandise former MC Sports with a 15K SF Planet Fitness
 
 
4

Dickson City Crossings
 
 
Scranton--Wilkes-Barre--Hazleton, PA
 
 
Remerchandise former sporting goods store with a 41K SF Burlington Stores and an additional junior anchor
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
In Process Projects
 
 
 
 
 
 
 
 
 
 
5

Montebello Plaza
 
Los Angeles-Long Beach-Anaheim, CA
 
 
 
 
Remerchandise former 99 Cents Only Store with a 30K SF Kohl's (new small format prototype)
 
 
6

Hunter's Creek Plaza
 
Orlando-Kissimmee-Sanford, FL
 
 
 
 
Remerchandise former LA Fitness and downsize Office Depot to accommodate a 30K SF Lucky’s Market
 
 
7

Barrett Place
 
Atlanta-Sandy Springs-Roswell, GA
 
 
 
 
Remerchandise former Sports Authority with a 42K SF ALDI
 
 
8

Commons of Chicago Ridge
 
Chicago-Naperville-Elgin, IL-IN-WI
 
 
 
 
Remerchandise former Office Depot with a 28K SF Ross Dress for Less
 
 
9

Haymarket Square & Haymarket Mall
 
Des Moines-West Des Moines, IA
 
 
 
 
Relocate and expand Aspen Athletic Club to 25K SF and remerchandise former Aspen Athletic Club with a 23K SF Harbor Freight Tools
 
 
10

Stony Brook I & II
 
Louisville/Jefferson County, KY-IN
 
 
 
 
Reconfigure approximately 15K of small shop space to accommodate expansion of existing Kroger to 116K SF Kroger Marketplace
 
 
11

Hampton Village Centre - Project 1
 
Detroit-Warren-Dearborn, MI
 
 
 
Construction of 16K SF to accommodate expansion of existing Emagine Theatre to 64K SF
 
 
12

Crossroads Centre
 
 
St. Louis, MO-IL
 
 
 
Remerchandise former Hobby Lobby with a 23K SF Ruler Foods (Kroger) and a 37K SF Sky Zone
 
 
13

Ellisville Square
 
St. Louis, MO-IL
 
 
Remerchandise and expand former Sports Authority with a 15K SF Petco and an additional junior anchor
 
 
14

Bedford Grove
 
 
Manchester-Nashua, NH
 
 
Remerchandise former Hannaford with a 21K SF Boston Interiors and an additional anchor tenant
 
 
15

Mamaroneck Centre
 
New York-Newark-Jersey City, NY-NJ-PA
 
 
Remerchandise former A&P with a 12K SF CVS and a 13K SF specialty grocer
 
 
16

Franklin Square
 
 
Charlotte-Concord-Gastonia, NC-SC
 
 
Remerchandise former Michaels with a 10K SF Partners in Primary Care and additional small shop space
 
 
17

Southland Shopping Center
 
Cleveland-Elyria, OH
 
 
Combine former Petco (relocated within center) and adjacent underutilized small shop vacancies to accommodate a 28K SF Aspire Fitness
 
 
18

The Vineyards
 
Cleveland-Elyria, OH
 
 
Remerchandise former Valu King with a 19K SF Powerhouse Gym, a 22K SF American Freight Furniture and an additional junior anchor
 
 
19

Cross Keys Commons
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
 
Remerchandise former Party City with an 11K SF ULTA
 
 
20

The Commons at Wolfcreek
 
Memphis, TN-MS-AR
 
 
 
 
Remerchandise former Sports Authority with a 44K SF Dave & Busters and a 9K SF Skechers
 
 
21

Clear Lake Camino South
 
Houston-The Woodlands-Sugar Land, TX
 
 
Remerchandise former Hancock Fabrics and adjacent small shop spaces with a 22K SF ALDI
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of Projects
 
Net Estimated Costs (1)
 
Gross Costs to Date
 
Expected NOI Yield (1)
 
 
 
 
 
Total In Process
21

 
$
44,200
 
 
$
17,035

 
10% - 14%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
COMPLETED ANCHOR SPACE REPOSITIONINGS
 
 
 
Projects Completed During The Three Months Ended September 30, 2017
 
 
 
 
 
1

Columbus Center
 
 
Columbus, IN
 
 
 
 
Addition of a 9K SF ULTA adjacent to previously leased 7K SF Shoe Carnival to complete remerchandising of former MC Sports
 
 
2

Wallkill Plaza
 
New York-Newark-Jersey City, NY-NJ-PA
 
 
Combine underutilized small shop space to accommodate a 10K SF David's Bridal and relocation of existing Foeller's Mens Shop
 
 
3

Whitehall Square
 
 
Allentown-Bethlehem-Easton, PA-NJ
 
 
Remerchandise former Sports Authority with a 49K SF Gabriel Bros.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2017
Page 20
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ANCHOR SPACE REPOSITIONING SUMMARY
Dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
 
MSA
 
 
 
 
 
 
 
Description
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Projects Completed During The Six Months Ended June 30, 2017
 
 
 
 
 
4

Pointe Orlando
 
 
Orlando-Kissimmee-Sanford, FL
 
 
Remerchandise ten small shop spaces with a 48K SF Main Event
 
 
5

Wilmington Island
 
 
Savannah, GA
 
 
Reconfigure junior anchor and small shop space to accommodate expansion of existing Kroger to 75K SF prototype and addition of Kroger fuel center
 
 
6

North Dixie Plaza
 
 
Elizabethtown-Fort Knox, KY
 
 
Terminate dark Kmart and remerchandise with a 91K SF At Home (Garden Ridge)
 
 
7

Highridge Plaza
 
 
New York-Newark-Jersey City, NY-NJ-PA
 
 
Remerchandise former A&P with a 42K SF H-Mart grocer
 
 
8

Ivyridge
 
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
 
Remerchandise former A&P with a 47K SF Target
 
 
9

Northtown Plaza
 
 
Houston-The Woodlands-Sugar Land, TX
 
 
Combine former Anna's Linens and RadioShack for a 16K SF dd's Discounts (Ross Dress for Less)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of Projects
 
Net Project
Costs (1)
 
NOI Yield (1)
 
 
 
 
 
 
 
 
Total Completed
9

 
$
20,699
 
 
13
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Represents gross project costs less any project specific credits (lease termination income or other ancillary credits).
 
Anchor space repositioning at Jeffersontown Commons removed from In Process pipeline due to discontinuation of project.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The in process projects listed above are actively underway and reflect projects in which leases have been executed with the tenant(s) listed in the project descriptions. There is no guarantee that the Company will complete any or all of these projects, or
that the 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, 2016.

Supplemental Disclosure - Three Months Ended September 30, 2017
Page 21
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OUTPARCEL DEVELOPMENT & NEW DEVELOPMENT SUMMARY
Dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
OUTPARCEL DEVELOPMENTS:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Net
 
 Gross
 
 
 
 
 
 
 
 
 
 
 
Stabilization
 
 Estimated
 
 Costs
 
Expected
 
 
 
Property Name
 
MSA
 
Project Description
 
Quarter
 
 Costs (2)
 
 to Date
 
NOI Yield (2)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
IN PROCESS OUTPARCEL DEVELOPMENTS (1)
 
 
 
 
 
 
 
 
 
 
 
New Projects Added To In Process Pipeline During The Three Months Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
1
Lake St. Charles
 
Tampa-St. Petersburg-Clearwater, FL
 
Construction of a 4K SF Speedy Carwash outparcel
 
Jun-18
 
$
24

 
$
23

 
307
%
 
 
2
Orange Grove
 
Houston-The Woodlands-Sugar Land, TX
 
Construction of a 4K SF Chick-fil-A outparcel
 
Jun-18
 
100

 
45

 
192
%
 
 
3
Dalewood I, II & III Shopping Center
 
New York-Newark-Jersey City, NY-NJ-PA
 
Construction of a 3K SF Shake Shack outparcel
 
Dec-18
 
2,900

 
312

 
15
%
 
 
4
Arapahoe Crossings
 
Denver-Aurora-Lakewood, CO
 
Construction of a 2K SF Dunkin' Donuts and a 3K SF PepperJax Grill outparcel
 
Jun-19
 
2,300

 
120

 
10
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
In Process Projects
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5
Century Plaza Shopping Center
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
Demolition of existing retail space, construction of a 13K SF CVS outparcel with drive-thru and site improvements
 
Jun-18
 
4,400

 
910

 
12
%
 
 
6
Westchester Square
 
Kansas City, MO-KS
 
Construction of a 2K SF Starbucks outparcel
 
Jun-18
 
1,100

 
461


10
%
 
 
7
Springfield Place
 
New York-Newark-Jersey City, NY-NJ-PA
 
Construction of a 4K SF outparcel with a 2K SF Chipotle and additional small shop space
 
Dec-18
 
2,900

 
1,392

 
8
%
 
 
 
TOTAL IN PROCESS OUTPARCEL DEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE
 
 
 
 
 
$
13,724

 
$
3,263

 
13
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Stabilization
 
 
 
Net Project
 
NOI
 
 
 
Property Name
 
MSA
 
Project Description
 
Quarter
 
 
 
 Costs (2,3)
 
Yield (2,3)
 
 
COMPLETED OUTPARCEL DEVELOPMENTS
 
 
 
 
 
 
 
 
 
 
 
 
 
Projects Completed During The Three Months Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
1
The Shoppes at Cinnaminson
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
Construction of a 2K SF Chipotle outparcel
 
Sep-17
 
 
 
$
1,283

 
9
%
 
 
2
The Centre at Navarro
 
Victoria, TX
 
Construction of an 18K SF Aldi outparcel
 
Sep-17
 
 
 
335

 
45
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Projects Completed During The Six Months Ended June 30, 2017
 
 
 
 
 
 
 
 
 
 
3
Galleria Commons
 
Las Vegas-Henderson-Paradise, NV
 
Construction of a 3K SF Corner Bakery Cafe outparcel
 
Jun-17
 
 
 
531

 
26
%
 
 
4
Pilgrim Gardens
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
Construction of a 2K SF Moe's Southwest Grill outparcel
 
Jun-17
 
 
 
376

 
26
%
 
 
5
Village at Mira Mesa
 
San Diego-Carlsbad, CA
 
Construction of a 3K SF Habit Burger Grill outparcel
 
Mar-17
 
 
 
1,002

 
22
%
 
 
6
Coastal Way - Coastal Landing
 
Tampa-St. Petersburg-Clearwater, FL
 
Construction of a 3K SF Visionworks, a 2K SF Chipotle and a 1K SF Jimmy John's outparcel
 
Mar-17
 
 
 
1,945

 
13
%
 
 
7
Miracle Mile Shopping Plaza
 
Toledo, OH
 
Construction of a 7K SF DaVita Dialysis outparcel
 
Mar-17
 
 
 
1,159

 
16
%
 
 
 
TOTAL COMPLETED OUTPARCEL DEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE
 
 
 
 
 
 
 
$
6,631

 
17
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NEW DEVELOPMENTS:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Net
 
 Gross
 
 
 
 
 
 
 
 
 
 
 
Stabilization
 
 Estimated
 
 Costs
 
Expected
 
 
 
Property Name
 
MSA
 
Project Description
 
Quarter
 
 Costs (2)
 
 to Date
 
NOI Yield (2)
 
 
IN PROCESS NEW DEVELOPMENTS
 
 
 
 
 
 
 
 
 
 
 
 
1
The Shops at Riverhead
 
New York-Newark-Jersey City, NY-NJ-PA
 
Construction of a 42K SF Marshalls / HomeGoods combo store, a 20K SF HomeSense (TJX), an 18K SF PetSmart, an 18K SF Sierra Trading Post, a 10K SF ULTA, and a 12K SF multi-tenant retail building adjacent to an existing non-owned Costco
 
Mar-18
 
$
37,800

 
$
19,241

 
9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Outparcel development at The Shoppes at North Ridgeville removed from In Process pipeline due to sale of property during the quarter.
 
 
 
 
 
 
 
 
(2) Represents gross project costs less any project specific credits (lease termination income or other ancillary credits).
 
 
 
 
 
 
 
(3) Net project costs and NOI yields may vary from those previously disclosed due to final project reconciliations.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The in process projects listed above are actively underway and reflect projects in which leases have been executed with the tenant(s) listed in the project descriptions. There is no guarantee that the Company will complete any or all of these projects, or
that the 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, 2016.

Supplemental Disclosure - Three Months Ended September 30, 2017
Page 22
jpgstandardlogoa21.jpg




REDEVELOPMENT SUMMARY
 
Dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Net
 
 Gross
 
Expected
 
 
 
 
 
 
 
 
 
 Property
 
Stabilization
 
 Estimated
 
 Costs
 
NOI
 
 
 
Property Name
 
MSA
 
Project Description
 
 Acreage
 
Quarter
 
 Costs (1)
 
 to Date
 
Yield (1)
 
 
IN PROCESS REDEVELOPMENTS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
New Projects Added To In Process Pipeline During The Three Months Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1

Speedway Super Center - Phase I
 
Indianapolis-Carmel-Anderson, IN
 
Redevelopment of underutilized retail space to accommodate a 40K SF Burlington Stores, a 22K SF Ross Dress for Less and a 9K SF Five Below; potential construction of an outparcel pad; and shopping center upgrades including façade renovations and updated parking lots
 
66
 
Mar-19
 
$
12,600

 
$
831

 
9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2

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 reconfiguring of parking lot
 
34
 
Jun-19
 
9,700

 
761

 
7
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
In Process Projects
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
3

Rose Pavilion
 
San Francisco-Oakland-Hayward, CA
 
Redevelopment of recently acquired former CVS with a 29K SF Total Wine & More; redevelopment of existing retail space with a 13K SF Trader Joe’s; remerchandise former Toscana Furniture with an 8K SF Pet Supplies Plus, expansion of existing Fitness 19, and additional small shop space; and shopping center upgrades including façade upgrade, LED lighting, solar array installation, and common area enhancements
 
27
 
Dec-17
 
17,400

 
10,167

 
10
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
4

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

 
7,824

 
9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5

Preston Ridge
 
Dallas-Fort Worth-Arlington, TX
 
Remerchandise and expand former Gatti-Town Pizza with a 33K SF Nordstrom Rack, a 29K SF Saks OFF Fifth, and a 6K SF J Crew Mercantile; expand and reconfigure existing shop space for restaurant uses with patio areas; and add a new grass pavilion
 
87
 
Dec-17
 
16,200

 
9,480

 
10
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
6

Park Shore Plaza
 
Naples-Immokalee-Marco Island, FL
 
Redevelopment and densification of center including replacing former Kmart and YouFit Health Club with a 60K SF Burlington Stores, a 27K SF Saks OFF Fifth, a 19K SF Party City, and an 8K SF Kirkland's; construction of additional small shop space including restaurant outparcels with potential for outdoor patio areas; and shopping center upgrades including façade renovations, new landscaping, and courtyard enhancements
 
22
 
Mar-18
 
23,900

 
18,177

 
11
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
7

Green Acres
 
Saginaw, MI
 
Redevelopment of existing Kroger and underutilized adjacent spaces for a 106K SF Kroger Marketplace, a 2K SF T-Mobile, and 14K SF of additional retail space; reconfigure remaining small shop space; and shopping center upgrades including partial façade upgrade, LED lighting, and outdoor seating
 
28
 
Mar-18
 
5,000

 
727

 
10
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
8

Erie Canal Centre
 
Syracuse, NY
 
Redevelopment of former Kmart and other vacant anchor space with a 50K SF Dick’s Sporting Goods, a 40K SF Burlington Stores, and a 26K SF Michaels; potential construction of 8K SF of small shop space and outparcel pad; and shopping center upgrades including façade renovations, LED lighting, parking realignment, new landscaping, pylon sign upgrade, and common area enhancements
 
11
 
Mar-18
 
15,800

 
11,741

 
8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
9

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

 
244

 
8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
10

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

 
861

 
11
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11

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

 
16,635

 
8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12

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

 
1,154

 
12
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
13

High Point Centre
 
Chicago-Naperville-Elgin, IL-IN-WI
 
Redevelopment of 40K SF of retail space with a 34K SF LA Fitness and 2K SF of small shops; construction of a 5K SF outparcel; shopping center upgrades including partial façade renovations, LED lighting, parking lot upgrades, new sidewalks and landscaping
 
35
 
Jun-19
 
10,500

 
174

 
9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2017
Page 23
jpgstandardlogoa21.jpg




REDEVELOPMENT SUMMARY
 
Dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Net
 
 Gross
 
Expected
 
 
 
 
 
 
 
 
 
 Property
 
Stabilization
 
 Estimated
 
 Costs
 
NOI
 
 
 
Property Name
 
MSA
 
Project Description
 
 Acreage
 
Quarter
 
 Costs (1)
 
 to Date
 
Yield (1)
 
 
14

Village at Mira Mesa - Phase I (2)
 
San Diego-Carlsbad, CA
 
Remerchandise and expand former Kohl’s with a 32K SF Sprouts Farmers Market and a 20K SF BevMo!; construction of 30K SF of additional retail space; demolish existing outparcel to accommodate construction of a 6K SF multi-tenant retail building; addition of outdoor dining patios and gathering areas; shopping center upgrades including facade renovations, 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, wireless mesh network systems, and electric vehicle charging stations
 
36
 
Dec-20
 
22,400

 
887

 
9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL IN PROCESS REDEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE
 
 
 
 
 
$
187,700

 
$
79,663

 
9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Represents gross project costs less any project specific credits (lease termination income or other ancillary credits).
 
 
 
 
 
 
 
 
 
(2) Net estimated costs exclude $3 million of project specific credits (lease termination income or other ancillary credits).
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The in process projects listed above are actively underway and reflect projects in which leases have been executed with the tenant(s) listed in the project descriptions. There is no guarantee that the Company will complete any or all of these projects, or
that the 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, 2016.
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2017
Page 24
jpgstandardlogoa21.jpg




FUTURE REDEVELOPMENT OPPORTUNITIES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
MSA
 
Project Description
 
 
 
 
 
 
 
 
 
 
MAJOR REDEVELOPMENTS
 
 
 
1

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

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

Village at Mira Mesa - Phase II
 
San Diego-Carlsbad, CA
 
Redevelopment of outparcels for multiple retailers and/or restaurants, potential construction of residential rental component, enhancement of common areas
 
 
4

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

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

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

Northeast Plaza
 
Atlanta-Sandy Springs-Roswell, GA
 
Extensive repositioning and reconfiguration, densification of site
 
 
8

Roosevelt Mall
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
Extensive repositioning and reconfiguration, including vertical component, densification of site
 
 
9

Village at Newtown
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
Redevelopment and repositioning of shopping center, densification of site
 
 
10

Market Plaza
 
Dallas-Fort Worth-Arlington, TX
 
Extensive redevelopment and repositioning of shopping center, remerchandise with multiple retailers
 
 
11

Wynnewood Village
 
Dallas-Fort Worth-Arlington, TX
 
Redevelopment and reconfiguration of existing anchor and inline space, densification of site
 
 
12

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

Cudahy Plaza (1)
 
Los Angeles-Long Beach-Anaheim, CA
 
Redevelopment of existing anchor space for multiple retailers
 
 
2

Carmen Plaza
 
Oxnard-Thousand Oaks-Ventura, CA
 
Reconfiguration of obsolete space and repurpose for national retailers, enhancement of common areas, sustainability upgrades
 
 
3

Northgate Shopping Center
 
Deltona-Daytona Beach-Ormond Beach, FL
 
Redevelopment of existing anchor space for multiple retailers, potential outparcel development
 
 
4

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

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

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

Beneva Village Shoppes
 
North Port-Sarasota-Bradenton, FL
 
Redevelopment of shopping center for new anchor prototype, address obsolete space, outparcel development, enhancement of common areas
 
 
8

Hunter's Creek Plaza
 
Orlando-Kissimmee-Sanford, FL
 
Reconfiguration of existing footprint for multiple retailers, potential outparcel development
 
 
9

Pointe Orlando
 
Orlando-Kissimmee-Sanford, FL
 
Redevelopment, densification and rebranding for multiple retailers and/or entertainment users
 
 
10

Clearwater Mall
 
Tampa-St. Petersburg-Clearwater, FL
 
Redevelopment of existing anchor space and adjacent retail space for multiple retailers
 
 
11

Tinley Park Plaza
 
Chicago-Naperville-Elgin, IL-IN-WI
 
Reconfiguration of existing footprint for multiple retailers and/or entertainment users, outparcel development
 
 
12

Market Centre (1)
 
Elkhart-Goshen, IN
 
Densification of site, including several multi-tenant outparcel buildings
 
 
13

Lincoln Plaza (1)
 
Fort Wayne, IN
 
Redevelopment of existing anchor space and small shop space for multiple retailers, extensive façade upgrades, enhancement of common areas
 
 
14

Speedway Super Center - Phase II
 
Indianapolis-Carmel-Anderson, IN
 
Rebranding of shopping center, including reconfiguration of existing footprint for multiple retailers, potential outparcel development
 
 
15

London Marketplace
 
London, KY
 
Reposition and remerchandise existing anchor space for multiple retailers, potential outparcel development
 
 
16

Webster Square Shopping Center
 
Boston-Cambridge-Newton, MA-NH
 
Redevelopment of existing pad building for multiple retailers
 
 
17

Redford Plaza (1)
 
Detroit-Warren-Dearborn, MI
 
Redevelopment of existing anchor space for multiple retailers, potential outparcel development, façade renovations
 
 
18

Roseville Center
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
Reconfigure and repurpose obsolete space, remerchandise with relevant and national retailers
 
 
19

Capitol Shopping Center (1)
 
Concord, NH
 
Redevelopment of existing anchor space for multiple retailers
 
 
20

Bedford Grove
 
Manchester-Nashua, NH
 
Redevelopment of existing anchor space for multiple retailers, potential outparcel development, enhancement of common areas
 
 
21

Hamilton Plaza
 
Trenton, NJ
 
Redevelopment of existing anchor space for multiple retailers, potential outparcel development
 
 
22

Falcaro's Plaza
 
New York-Newark-Jersey City, NY-NJ-PA
 
Reorient and repurpose existing anchor space and additional building to leverage power corner location, densification of site
 
 
23

Laurel Square (1)
 
New York-Newark-Jersey City, NY-NJ-PA
 
Redevelopment of existing anchor space for multiple retailers, enhancement of common areas
 
 
24

Mamaroneck Centre
 
New York-Newark-Jersey City, NY-NJ-PA
 
Redevelopment of existing pad building to accommodate multiple new retailers
 
 
25

Stewart Plaza (1)
 
New York-Newark-Jersey City, NY-NJ-PA
 
Reconfigure existing anchor space and remerchandise for multiple retailers
 
 
26

Suffolk Plaza
New York-Newark-Jersey City, NY-NJ-PA
 
Redevelopment of existing anchor space for multiple retailers, enhancement of common areas
 
 
27

Western Hills Plaza (1)
 
Cincinnati, OH-KY-IN
 
Redevelopment of existing anchor space for multiple retailers, enhancement of common areas
 
 
28

Park Hills Plaza
 
Altoona, PA
 
Reconfigure and remerchandise obsolete space, potential outparcel development
 
 
29

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

Supplemental Disclosure - Three Months Ended September 30, 2017
Page 25
jpgstandardlogoa21.jpg




FUTURE REDEVELOPMENT OPPORTUNITIES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
MSA
 
Project Description
 
 
 
 
 
 
 
 
 
 
30

Whitemarsh Shopping Center
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
Densification of site, including outparcel development
 
 
31

The Commons at Wolfcreek
 
Memphis, TN-MS-AR
 
Redevelopment of existing anchor space for multiple retailers, potential outparcel development
 
 
32

Carmel Village (1)
 
Corpus Christi, TX
 
Redevelopment of existing anchor space for multiple retailers, potential outparcel development, façade renovations
 
 
33

Preston Park Village
 
Dallas-Fort Worth-Arlington, TX
 
Repurpose, assemble and reposition for national retail merchandise mix, densification of site, enhancement of common areas
 
 
34

Braes Heights
 
Houston-The Woodlands-Sugar Land, TX
 
Rebrand shopping center and remerchandise with relevant retailers, enhancement of common areas
 
 
35

Crossroads Centre - Pasadena (1)
 
Houston-The Woodlands-Sugar Land, TX
 
Remerchandise with experiential retailers, enhancement of common areas
 
 
36

Jester Village
 
Houston-The Woodlands-Sugar Land, TX
 
Redevelopment of existing anchor space for multiple retailers, densification of site, enhancement of common areas
 
 
37

Northtown Plaza (1)
 
Houston-The Woodlands-Sugar Land, TX
 
Reposition and remerchandise existing anchor space and adjacent retail space, enhancement of common areas
 
 
38

Texas City Bay
 
Houston-The Woodlands-Sugar Land, TX
 
Redevelopment of existing anchor space for multiple retailers, densification of site
 
 
39

The Centre at Navarro
 
Victoria, TX
 
Redevelopment of existing anchor space for multiple retailers, densification of site, enhancement of common areas
 
 
40

Hanover Square
 
Richmond, VA
 
Redevelopment of existing anchor space, outparcel development including multi-tenant retail building
 
 
 
 
 
 
 
 
 
(1) Indicates project added to pipeline during the three months ended September 30, 2017.
 
 
 
 
 
 
 
 
 
 
The Company has identified potential future reinvestment opportunities at the properties listed above. Many of these opportunities are, or will soon be, in preliminary planning phases and as such, may not ultimately become active reinvestments. Proceeding
with these reinvestments could be subject to factors outside of the Company’s control which could delay, suspend or defer the expected opportunity or timing of execution. While the Company expects that these projects are likely to become active
in the near-term, it should be noted that this list will fluctuate as projects become active, suspended or otherwise rescheduled. For more information, please refer to the “Risk Factors” section of the Company’s Annual Report on Form 10-K
for the year ended December 31, 2016.

Supplemental Disclosure - Three Months Ended September 30, 2017
Page 26
jpgstandardlogoa21.jpg




 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PORTFOLIO SUMMARY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure
Three Months Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Individual values herein may not add up to totals due to rounding.
 





PORTFOLIO OVERVIEW
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of:
 
 
 
 
 
 
 
 
 
9/30/17
 
6/30/17
 
3/31/17
 
12/31/16
 
9/30/16
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of properties
 
 
498

 
507

 
510

 
512

 
514

 
 
 
 
 
GLA
 
 
84,091,870

 
85,460,362

 
85,961,594

 
86,006,794

 
86,295,214

 
 
 
 
 
Percent billed
 
 
89.6
%
 
89.9
%
 
90.4
%
 
90.7
%
 
90.6
%
 
 
 
 
 
Percent leased
 
 
91.6
%
 
92.0
%
 
92.5
%
 
92.8
%
 
92.6
%
 
 
 
 
 
 
TOTAL ≥ 10,000 SF
 
 
94.7
%
 
95.0
%
 
95.8
%
 
96.1
%
 
95.8
%
 
 
 
 
 
 
TOTAL < 10,000 SF
 
 
84.4
%
 
85.0
%
 
84.8
%
 
85.1
%
 
85.0
%
 
 
 
 
 
ABR
 
 
 
$
945,721

 
$
959,800

 
$
965,273

 
$
959,983

 
$
953,696

 
 
 
 
 
ABR PSF
 
 
$
13.28

 
$
13.21

 
$
13.12

 
$
12.99

 
$
12.90

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PORTFOLIO BY UNIT SIZE AS OF 9/30/17
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of
Units
 
GLA
 
Percent Billed
 
Percent Leased
 
Percent of Vacant GLA
 
 ABR
 
ABR PSF
 
 
 
 
≥ 35,000 SF
560

 
34,412,787

 
95.1
%
 
95.8
%
 
20.7
%
 
$
265,364

 
$
9.38

 
 
 
 
20,000 – 34,999 SF
555

 
14,600,877

 
90.2
%
 
94.1
%
 
12.3
%
 
137,787

 
10.22

 
 
 
 
10,000 - 19,999 SF
740

 
10,098,320

 
89.6
%
 
91.8
%
 
11.8
%
 
119,020

 
13.14

 
 
 
 
5,000 - 9,999 SF
1,346

 
9,276,043

 
82.8
%
 
85.6
%
 
18.9
%
 
127,357

 
16.71

 
 
 
 
< 5,000 SF
7,530

 
15,703,843

 
81.2
%
 
83.7
%
 
36.3
%
 
296,193

 
23.19

 
 
 
 
TOTAL
10,731

 
84,091,870

 
89.6
%
 
91.6
%
 
100.0
%
 
$
945,721

 
$
13.28

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL ≥ 10,000 SF
1,855

 
59,111,984

 
93.0
%
 
94.7
%
 
44.8
%
 
$
522,171

 
$
10.27

 
 
 
 
TOTAL < 10,000 SF
8,876

 
24,979,886

 
81.8
%
 
84.4
%
 
55.2
%
 
423,550

 
20.77

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Prior periods are not adjusted for sold properties.
 
 
 
 
 
 
 
 




Supplemental Disclosure - Three Months Ended September 30, 2017
Page 28
jpgstandardlogoa21.jpg




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

 
 
1

The Kroger Co. (1)
 
 
 
 
66

 
 
4,336,869

 
5.2
%
 
$
30,494

 
3.2
%
 
$
7.03

 
 
2

The TJX Companies, Inc. (2)
 
 
 
 
91

 
 
2,841,380

 
3.4
%
 
30,207

 
3.2
%
 
10.63

 
 
3

Dollar Tree Stores, Inc. (3)
 
 
 
 
156

 
 
1,778,666

 
2.1
%
 
18,279

 
1.9
%
 
10.28

 
 
4

Publix Super Markets, Inc.
 
 
 
 
38

 
 
1,758,320

 
2.1
%
 
16,663

 
1.8
%
 
9.48

 
 
5

Ahold Delhaize (4)
 
 
 
 
27

 
 
1,414,448

 
1.7
%
 
14,281

 
1.5
%
 
10.10

 
 
6

Wal-Mart Stores, Inc. (5)
 
 
 
 
25

 
 
3,085,756

 
3.7
%
 
13,596

 
1.4
%
 
4.41

 
 
7

Albertsons Companies, Inc. (6)
 
 
 
 
21

 
 
1,194,862

 
1.4
%
 
12,758

 
1.3
%
 
10.68

 
 
8

Burlington Stores, Inc.
 
 
 
 
22

 
 
1,532,515

 
1.8
%
 
12,290

 
1.3
%
 
8.02

 
 
9

Ross Stores, Inc. (7)
 
 
 
 
33

 
 
910,036

 
1.1
%
 
9,942

 
1.1
%
 
10.92

 
 
10

Bed Bath & Beyond Inc. (8)
 
 
 
 
31

 
 
765,350

 
0.9
%
 
9,939

 
1.1
%
 
12.99

 
 
 
TOP 10 RETAILERS
 
 
 
 
510

 
 
19,618,202

 
23.4
%
 
168,449

 
17.8
%
 
8.59

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11

Big Lots, Inc.
 
 
 
 
45

 
 
1,488,514

 
1.8
%
 
9,547

 
1.0
%
 
6.41

 
 
12

PetSmart, Inc. (9)
 
 
 
 
29

 
 
646,099

 
0.8
%
 
9,365

 
1.0
%
 
14.49

 
 
13

PETCO Animal Supplies, Inc. (10)
 
 
 
 
37

 
 
491,801

 
0.6
%
 
8,315

 
0.9
%
 
16.91

 
 
14

Best Buy Co., Inc.
 
 
 
 
15

 
 
613,462

 
0.7
%
 
8,262

 
0.9
%
 
13.47

 
 
15

Office Depot, Inc. (11)
 
 
 
 
32

 
 
700,208

 
0.8
%
 
7,775

 
0.8
%
 
11.10

 
 
16

Sears Holdings Corporation (12)
 
 
 
 
19

 
 
1,835,386

 
2.2
%
 
7,591

 
0.8
%
 
4.14

 
 
17

L.A. Fitness International, LLC
 
 
 
 
11

 
 
476,403

 
0.6
%
 
7,453

 
0.8
%
 
15.64

 
 
18

DICK'S Sporting Goods, Inc. (13)
 
 
 
 
14

 
 
539,639

 
0.6
%
 
7,430

 
0.8
%
 
13.77

 
 
19

Party City Corporation
 
 
 
 
35

 
 
510,998

 
0.6
%
 
7,423

 
0.8
%
 
14.53

 
 
20

Staples, Inc.
 
 
 
 
27

 
 
562,443

 
0.7
%
 
6,968

 
0.7
%
 
12.39

 
 
 
TOP 20 RETAILERS
 
 
 
 
774

 
 
27,483,155

 
32.8
%
 
248,578

 
26.3
%
 
9.04

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
21

Kohl's Corporation
 
 
 
 
11

 
 
907,322

 
1.1
%
 
6,743

 
0.7
%
 
7.43

 
 
22

Michaels Stores, Inc.
 
 
 
 
26

 
 
580,279

 
0.7
%
 
6,516

 
0.7
%
 
11.23

 
 
23

Hobby Lobby Stores, Inc.
 
 
 
 
16

 
 
973,217

 
1.2
%
 
6,485

 
0.7
%
 
6.66

 
 
24

Mattress Firm, Inc.
 
 
 
 
47

 
 
277,184

 
0.3
%
 
6,188

 
0.7
%
 
22.32

 
 
25

Ascena Retail Group, Inc. (14)
 
 
 
 
52

 
 
323,225

 
0.4
%
 
6,047

 
0.6
%
 
18.71

 
 
26

The Home Depot, Inc.
 
 
 
 
8

 
 
799,388

 
1.0
%
 
5,755

 
0.6
%
 
7.20

 
 
27

Ulta Beauty Inc. (15)
 
 
 
 
23

 
 
260,871

 
0.3
%
 
5,490

 
0.6
%
 
21.04

 
 
28

H.E. Butt Grocery Company (16)
 
 
 
 
7

 
 
419,204

 
0.5
%
 
5,419

 
0.6
%
 
12.93

 
 
29

Southeastern Grocers (17)
 
 
 
 
14

 
 
653,809

 
0.8
%
 
4,920

 
0.5
%
 
7.53

 
 
30

CVS Health
 
 
 
 
22

 
 
300,635

 
0.4
%
 
4,872

 
0.5
%
 
16.21

 
 
31

Sally Beauty Holdings, Inc. (18)
 
 
 
 
115

 
 
201,478

 
0.2
%
 
4,490

 
0.5
%
 
22.29

 
 
32

Toys"R"Us, Inc. (19)
 
 
 
 
12

 
 
459,117

 
0.5
%
 
4,424

 
0.5
%
 
9.64

 
 
33

DSW Inc.
 
 
 
 
14

 
 
268,691

 
0.3
%
 
4,383

 
0.5
%
 
16.31

 
 
34

Jo-Ann Stores, Inc.
 
 
 
 
22

 
 
408,706

 
0.5
%
 
4,336

 
0.5
%
 
10.61

 
 
35

Gap, Inc. (20)
 
 
 
 
16

 
 
253,662

 
0.3
%
 
4,312

 
0.5
%
 
17.00

 
 
36

Giant Eagle, Inc.
 
 
 
 
5

 
 
391,503

 
0.5
%
 
4,262

 
0.5
%
 
10.89

 
 
37

AMC Entertainment Holdings, Inc.
 
 
 
 
4

 
 
214,355

 
0.3
%
 
4,151

 
0.4
%
 
19.37

 
 
38

Rainbow Shops
 
 
 
 
41

 
 
312,806

 
0.4
%
 
4,099

 
0.4
%
 
13.10

 
 
39

Walgreen Co.
 
 
 
 
17

 
 
246,409

 
0.3
%
 
4,066

 
0.4
%
 
16.50

 
 
40

Stein Mart, Inc.
 
 
 
 
13

 
 
459,393

 
0.5
%
 
4,054

 
0.4
%
 
8.82

 
 
 
TOTAL TOP 40 RETAILERS
 
 
 
1,259

 
 
36,194,409

 
43.3
%
 
$
349,590

 
37.1
%
 
$
9.66

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Includes Kroger-51, Harris Teeter-3, King Soopers-3, Ralphs-2, Smith's-1,
(6) Includes Vons-4, Albertsons-3, Acme-3, Randalls-3, Tom Thumb-2,
 
(13) Includes DICK'S Sporting Goods-9 and Golf Galaxy-5.
Pick ' N Save-2, Dillons-1, Food 4 Less-1, Ruler Foods-1 and Pay Less-1.
Dominick's-2, Shaw's-2, Shop & Save Market-1 and Star Market-1.
 
(14) Includes dressbarn-21, Catherines-11, Justice-7,
(2) Includes T.J. Maxx-45, Marshalls-35, HomeGoods-10 and Sierra Trading Post-1.
(7) Includes Ross Dress for Less-31 and dd's Discounts-2.
 
Lane Bryant-7, maurices-5 and Ann Taylor-1.
Excludes three leases at new development property.
(8) Includes Bed Bath & Beyond-16, Harmon Face Values-6, Christmas Tree Shops-4,
 
(15) Excludes ULTA at new development property.
(3) Includes Dollar Tree-126 and Family Dollar-30.
Cost Plus World Market-3 and buybuy BABY-2.
 
(16) Includes H-E-B-6 and Central Market-1.
(4) Includes Giant Food-9, Food Lion-7, Super Stop & Shop-7, Bottom Dollar Food-1,
(9) Excludes PetSmart at new development property.
 
(17) Includes Winn-Dixie-7, BI-LO-3, Harveys-3 and Fresco y Más-1.
Hannaford-1, ShopRite-1 and Stop & Shop-1.
(10) Includes PETCO-36 and Unleashed-1.
 
(18) Includes Sally Beauty-106 and Cosmoprof-9.
(5) Includes Supercenters-13, Discount Stores-6, Walmart Neighborhood
(11) Includes Office Depot-17 and OfficeMax-15.
 
(19) Includes Babies"R"Us-7 and Toys"R"Us-5.
Market-5 and Sam's Club-1.
(12) Includes Kmart-16, Sears-2 and Sears Essentials-1.
 
(20) Includes Old Navy-12, GAP Factory-3 and Banana Republic Factory-1.

Supplemental Disclosure - Three Months Ended September 30, 2017
Page 29
jpgstandardlogoa21.jpg




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

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Tenant Improvements and Allowances PSF (1)
 
Third Party Leasing Commissions PSF
 
Weighted Average Lease Term (years)
 
Comparable Only
 
 
 
 
 
 
Leases
 
GLA
 
New ABR
 
New ABR PSF
 
 
 
 
Leases
 
GLA
 
New ABR PSF
 
Old ABR PSF
 
Rent
Spread
 
 
 
 
TOTAL - NEW, RENEWAL & OPTION LEASES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 9/30/17
 
486

 
3,419,078

 
$
48,573

 
$
14.21

 
$
7.19

 
$
0.93

 
6.3

 
396

 
3,023,756

 
$
13.99

 
$
12.70

 
10.2
%
 
 
 
 
Three months ended 6/30/17
 
511

 
2,896,416

 
42,514

 
14.68

 
6.78

 
1.11

 
6.2

 
416

 
2,407,695

 
14.56

 
12.81

 
13.7
%
 
 
 
 
Three months ended 3/31/17
 
436

 
2,664,063

 
38,544

 
14.47

 
8.13

 
1.14

 
6.2

 
347

 
2,232,859

 
14.59

 
12.87

 
13.4
%
 
 
 
 
Three months ended 12/31/16
 
453

 
2,974,137

 
39,687

 
13.34

 
6.47

 
0.98

 
6.5

 
379

 
2,512,974

 
13.87

 
12.11

 
14.5
%
 
 
 
 
TOTAL - TTM
 
1,886

 
11,953,694

 
$
169,318

 
$
14.16

 
$
7.12

 
$
1.03

 
6.3

 
1,538

 
10,177,284

 
$
14.23

 
$
12.62

 
12.8
%
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NEW & RENEWAL LEASES ONLY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 9/30/17
 
393

 
2,088,931

 
$
31,305

 
$
14.99

 
$
11.76

 
$
1.52

 
7.1

 
303

 
1,693,609

 
$
14.78

 
$
13.11

 
12.7
%
 
 
 
 
Three months ended 6/30/17
 
437

 
1,870,289

 
31,133

 
16.65

 
10.50

 
1.72

 
7.0

 
342

 
1,381,568

 
17.13

 
14.66

 
16.8
%
 
 
 
 
Three months ended 3/31/17
 
363

 
1,851,999

 
28,038

 
15.14

 
11.68

 
1.64

 
6.8

 
274

 
1,420,795

 
15.54

 
13.35

 
16.4
%
 
 
 
 
Three months ended 12/31/16
 
376

 
1,989,990

 
28,856

 
14.50

 
9.64

 
1.46

 
7.1

 
302

 
1,528,827

 
15.72

 
13.20

 
19.1
%
 
 
 
 
TOTAL - TTM
 
1,569

 
7,801,209

 
$
119,332

 
$
15.30

 
$
10.90

 
$
1.58

 
7.0

 
1,221

 
6,024,799

 
$
15.74

 
$
13.55

 
16.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NEW LEASES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 9/30/17
 
158

 
723,207

 
$
12,216

 
$
16.89

 
$
23.39

 
$
4.19

 
8.8

 
71

 
364,060

 
$
17.33

 
$
14.36

 
20.7
%
 
 
 
 
Three months ended 6/30/17
 
162

 
795,344

 
13,129

 
16.51

 
21.48

 
3.91

 
9.0

 
71

 
329,323

 
18.02

 
13.24

 
36.1
%
 
 
 
 
Three months ended 3/31/17
 
152

 
803,958

 
11,640

 
14.48

 
23.78

 
3.61

 
8.6

 
65

 
442,418

 
14.59

 
10.67

 
36.7
%
 
 
 
 
Three months ended 12/31/16
 
128

 
805,490

 
11,303

 
14.03

 
16.89

 
3.56

 
9.6

 
60

 
453,301

 
15.92

 
11.43

 
39.3
%
 
 
 
 
TOTAL - TTM
 
600

 
3,127,999

 
$
48,288

 
$
15.44

 
$
21.33

 
$
3.81

 
9.0

 
267

 
1,589,102

 
$
16.31

 
$
12.26

 
33.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
RENEWAL LEASES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 9/30/17
 
235

 
1,365,724

 
$
19,089

 
$
13.98

 
$
5.61

 
$
0.10

 
6.2

 
232

 
1,329,549

 
$
14.08

 
$
12.77

 
10.3
%
 
 
 
 
Three months ended 6/30/17
 
275

 
1,074,945

 
18,004

 
16.75

 
2.38

 
0.10

 
5.4

 
271

 
1,052,245

 
16.85

 
15.11

 
11.5
%
 
 
 
 
Three months ended 3/31/17
 
211

 
1,048,041

 
16,398

 
15.65

 
2.39

 
0.14

 
5.4

 
209

 
978,377

 
15.97

 
14.57

 
9.6
%
 
 
 
 
Three months ended 12/31/16
 
248

 
1,184,500

 
17,553

 
14.82

 
4.71

 
0.03

 
5.5

 
242

 
1,075,526

 
15.64

 
13.94

 
12.2
%
 
 
 
 
TOTAL - TTM
 
969

 
4,673,210

 
$
71,044

 
$
15.20

 
$
3.92

 
$
0.09

 
5.7

 
954

 
4,435,697

 
$
15.53

 
$
14.01

 
10.8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
OPTION LEASES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 9/30/17
 
93

 
1,330,147

 
$
17,268

 
$
12.98

 
$

 
$

 
5.0

 
93

 
1,330,147

 
$
12.98

 
$
12.19

 
6.5
%
 
 
 
 
Three months ended 6/30/17
 
74

 
1,026,127

 
11,381

 
11.09

 

 

 
4.7

 
74

 
1,026,127

 
11.09

 
10.31

 
7.6
%
 
 
 
 
Three months ended 3/31/17
 
73

 
812,064

 
10,506

 
12.94

 
0.04

 

 
5.0

 
73

 
812,064

 
12.94

 
12.02

 
7.7
%
 
 
 
 
Three months ended 12/31/16
 
77

 
984,147

 
10,831

 
11.01

 
0.05

 

 
5.1

 
77

 
984,147

 
11.01

 
10.41

 
5.8
%
 
 
 
 
TOTAL - TTM
 
317

 
4,152,485

 
$
49,986

 
$
12.04

 
$
0.02

 
$

 
4.9

 
317

 
4,152,485

 
$
12.04

 
$
11.27

 
6.8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
LEASES BY ANCHOR AND SMALL SHOP
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended 9/30/17
 
 
 
TTM Ended 9/30/17
 
 
 
 
 
 
 
 
% of Leases
 
% of GLA
 
% of ABR
 
New ABR PSF
 
Rent Spread (2)
 
 
 
% of Leases
 
% of GLA
 
% of ABR
 
New ABR PSF
 
Rent Spread (2)
 
 
 
Anchor Leases (≥ 10,000 SF)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total - New, Renewal & Option Leases
 
19
%
 
68
%
 
53
%
 
$
11.07

 
10.1
%
 
 
 
15
%
 
65
%
 
48
%
 
$
10.57

 
13.4
%
 
 
 
 
New & Renewal Leases Only
 
14
%
 
60
%
 
44
%
 
11.10

 
14.5
%
 
 
 
11
%
 
56
%
 
41
%
 
11.26

 
20.8
%
 
 
 
 
New Leases
 
 
 
12
%
 
54
%
 
41
%
 
12.78

 
22.2
%
 
 
 
13
%
 
59
%
 
47
%
 
12.28

 
43.2
%
 
 
 
 
Renewal Leases
 
 
 
15
%
 
63
%
 
46
%
 
10.33

 
11.9
%
 
 
 
10
%
 
54
%
 
37
%
 
10.51

 
11.0
%
 
 
 
 
Option Leases
 
 
 
39
%
 
82
%
 
70
%
 
11.04

 
5.7
%
 
 
 
34
%
 
82
%
 
66
%
 
9.69

 
5.8
%
 
 
 
Small Shop Leases (< 10,000 SF)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total - New, Renewal & Option Leases
 
81
%
 
32
%
 
47
%
 
$
20.98

 
10.3
%
 
 
 
85
%
 
35
%
 
52
%
 
$
20.74

 
12.1
%
 
 
 
 
New & Renewal Leases Only
 
86
%
 
40
%
 
56
%
 
20.73

 
11.1
%
 
 
 
89
%
 
44
%
 
59
%
 
20.35

 
13.2
%
 
 
 
 
New Leases
 
 
 
88
%
 
46
%
 
59
%
 
21.72

 
19.1
%
 
 
 
87
%
 
41
%
 
53
%
 
19.89

 
22.8
%
 
 
 
 
Renewal Leases
 
 
 
85
%
 
37
%
 
54
%
 
20.09

 
9.0
%
 
 
 
90
%
 
46
%
 
63
%
 
20.63

 
10.9
%
 
 
 
 
Option Leases
 
 
 
61
%
 
18
%
 
30
%
 
21.86

 
8.3
%
 
 
 
66
%
 
18
%
 
34
%
 
22.51

 
8.8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Includes tenant specific landlord work.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(2) Comparable leases only.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Includes new development property. Excludes leases executed for terms of less than one year.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ABR PSF includes the GLA of lessee owned leasehold improvements.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2017
Page 30
jpgstandardlogoa21.jpg




NEW LEASE NET EFFECTIVE RENT
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Twelve Months Ended
 
Three Months Ended
 
 
 
 
 
9/30/17
 
9/30/17
 
6/30/17
 
3/31/17
 
12/31/16
 
 
NEW LEASES
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average over lease term:
 
 
 
 
 
 
 
 
 
 
 
 
 
Base rent
 
$
16.37

 
$
18.04

 
$
17.46

 
$
15.35

 
$
14.81

 
 
 
Tenant improvements and allowances
 
(2.26
)
 
(2.53
)
 
(2.29
)
 
(2.46
)
 
(1.78
)
 
 
 
Tenant specific landlord work
 
(0.51
)
 
(0.51
)
 
(0.78
)
 
(0.42
)
 
(0.34
)
 
 
 
Third party leasing commissions
 
(0.42
)
 
(0.47
)
 
(0.43
)
 
(0.40
)
 
(0.37
)
 
 
EQUIVALENT NET EFFECTIVE RENT
 
$
13.18

 
$
14.53

 
$
13.96

 
$
12.07

 
$
12.32

 
 
Net effective rent / base rent
 
81
%
 
81
%
 
80
%
 
79
%
 
83
%
 
 
Weighted average term (years)
 
9.0

 
8.8

 
9.0

 
8.6

 
9.6

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PERCENT OF TOTAL EQUIVALENT NET EFFECTIVE RENT BY ANCHOR AND SMALL SHOP
 
 
 
 
 
 
 
≥ 10,000 SF
 
45
%
 
39
%
 
41
%
 
49
%
 
50
%
 
 
 
< 10,000 SF
 
55
%
 
61
%
 
59
%
 
51
%
 
50
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Includes new development property.
 
 
 
 
 
 
 
 
 
 
 
ABR PSF includes the GLA of lessee owned leasehold improvements.
 
 
 
 
 
 
 
 
 
 
 


Supplemental Disclosure - Three Months Ended September 30, 2017
Page 31
jpgstandardlogoa21.jpg




LEASE EXPIRATION SCHEDULE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ASSUMES NO EXERCISE OF RENEWAL OPTIONS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL PORTFOLIO
 
 
SPACES > 10,000 SF
 
 
SPACES < 10,000 SF
 
 
 
 
Number
 
 
 
% of
 
% of
 
 
 
ABR PSF
 
 
Number
 
 
 
% of
 
% of
 
 
 
ABR PSF
 
 
Number
 
 
 
% of
 
% of
 
 
 
ABR PSF
 
 
 
 
of
 
Leased
 
Leased
 
In-Place
 
In-place
 
at
 
 
of
 
Leased
 
Leased
 
In-Place
 
In-place
 
at
 
 
of
 
Leased
 
Leased
 
In-Place
 
In-place
 
at
 
 
 
 
Leases
 
GLA
 
GLA
 
ABR
 
ABR PSF
 
Expiration
 
 
Leases
 
GLA
 
GLA
 
ABR
 
ABR PSF
 
Expiration
 
 
Leases
 
GLA
 
GLA
 
ABR
 
ABR PSF
 
Expiration
 
 
M-M
 
412

 
1,272,882

 
1.7
%
 
1.8
%
 
$
13.50

 
$
13.51

 
 
14

 
452,721

 
0.8
%
 
0.7
%
 
$
8.20

 
$
8.20

 
 
398

 
820,161

 
3.9
%
 
3.2
%
 
$
16.43

 
$
16.44

 
 
2017
 
232

 
1,086,919

 
1.4
%
 
1.4
%
 
12.58

 
12.58

 
 
17

 
566,092

 
1.0
%
 
0.8
%
 
7.22

 
7.22

 
 
215

 
520,827

 
2.5
%
 
2.3
%
 
18.41

 
18.41

 
 
2018
 
1,483

 
8,229,718

 
10.7
%
 
11.0
%
 
12.68

 
12.71

 
 
165

 
4,839,388

 
8.6
%
 
7.7
%
 
8.30

 
8.31

 
 
1,318

 
3,390,330

 
16.1
%
 
15.1
%
 
18.91

 
19.00

 
 
2019
 
1,481

 
10,711,118

 
13.9
%
 
13.3
%
 
11.71

 
11.81

 
 
216

 
7,296,090

 
13.0
%
 
11.8
%
 
8.45

 
8.45

 
 
1,265

 
3,415,028

 
16.2
%
 
15.1
%
 
18.68

 
18.97

 
 
2020
 
1,419

 
11,440,060

 
14.9
%
 
14.1
%
 
11.68

 
11.87

 
 
247

 
8,336,025

 
14.9
%
 
13.7
%
 
8.57

 
8.61

 
 
1,172

 
3,104,035

 
14.7
%
 
14.7
%
 
20.04

 
20.64

 
 
2021
 
1,141

 
10,128,756

 
13.1
%
 
12.6
%
 
11.80

 
12.07

 
 
222

 
7,528,335

 
13.5
%
 
12.8
%
 
8.91

 
8.97

 
 
919

 
2,600,421

 
12.3
%
 
12.4
%
 
20.18

 
21.05

 
 
2022
 
1,041

 
9,283,257

 
12.1
%
 
12.1
%
 
12.34

 
12.82

 
 
216

 
6,873,750

 
12.3
%
 
12.2
%
 
9.30

 
9.41

 
 
825

 
2,409,507

 
11.4
%
 
12.0
%
 
21.01

 
22.54

 
 
2023
 
449

 
5,060,798

 
6.6
%
 
6.4
%
 
11.94

 
12.90

 
 
143

 
3,935,850

 
7.0
%
 
7.2
%
 
9.58

 
10.22

 
 
306

 
1,124,948

 
5.3
%
 
5.4
%
 
20.19

 
22.27

 
 
2024
 
340

 
3,977,797

 
5.2
%
 
5.0
%
 
11.83

 
12.83

 
 
93

 
3,124,419

 
5.6
%
 
5.6
%
 
9.33

 
9.91

 
 
247

 
853,378

 
4.0
%
 
4.2
%
 
20.95

 
23.52

 
 
2025
 
282

 
3,260,282

 
4.2
%
 
4.6
%
 
13.38

 
14.53

 
 
90

 
2,546,293

 
4.6
%
 
5.5
%
 
11.18

 
11.85

 
 
192

 
713,989

 
3.4
%
 
3.6
%
 
21.20

 
24.06

 
 
2026
 
305

 
3,172,719

 
4.1
%
 
4.9
%
 
14.51

 
15.95

 
 
85

 
2,408,491

 
4.3
%
 
5.3
%
 
11.50

 
12.31

 
 
220

 
764,228

 
3.6
%
 
4.3
%
 
23.97

 
27.40

 
 
2027+
611

 
9,408,880

 
12.2
%
 
12.7
%
 
12.78

 
14.77

 
 
223

 
8,044,840

 
14.4
%
 
16.7
%
 
10.82

 
12.29

 
 
388

 
1,364,040

 
6.5
%
 
7.8
%
 
24.36

 
29.41

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ASSUMES EXERCISE OF ALL RENEWAL OPTIONS (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL PORTFOLIO
 
 
SPACES > 10,000 SF
 
 
SPACES < 10,000 SF
 
 
 
 
Number
 
 
 
% of
 
% of
 
 
 
ABR PSF
 
 
Number
 
 
 
% of
 
% of
 
 
 
ABR PSF
 
 
Number
 
 
 
% of
 
% of
 
 
 
ABR PSF
 
 
 
 
of
 
Leased
 
Leased
 
In-Place
 
In-place
 
at
 
 
of
 
Leased
 
Leased
 
In-Place
 
In-place
 
at
 
 
of
 
 
 
Leased
 
In-Place
 
In-place
 
at
 
 
 
 
Leases
 
GLA
 
GLA
 
ABR
 
ABR PSF
 
Expiration
 
 
Leases
 
GLA
 
GLA
 
ABR
 
ABR PSF
 
Expiration
 
 
Leases
 
GLA
 
GLA
 
ABR
 
ABR PSF
 
Expiration
 
 
M-M
 
412

 
1,272,882

 
1.7
%
 
1.8
%
 
$
13.50

 
$
13.89

 
 
14

 
452,721

 
0.8
%
 
0.7
%
 
$
8.20

 
$
8.88

 
 
398

 
820,161

 
3.9
%
 
3.2
%
 
$
16.43

 
$
16.65

 
 
2017
 
193

 
570,367

 
0.7
%
 
0.9
%
 
14.66

 
14.66

 
 
8

 
136,502

 
0.2
%
 
0.2
%
 
8.07

 
8.07

 
 
185

 
433,865

 
2.1
%
 
1.7
%
 
16.74

 
16.74

 
 
2018
 
1,024

 
3,623,067

 
4.7
%
 
5.6
%
 
14.65

 
14.73

 
 
61

 
1,384,624

 
2.5
%
 
2.1
%
 
8.10

 
8.11

 
 
963

 
2,238,443

 
10.6
%
 
9.9
%
 
18.71

 
18.83

 
 
2019
 
890

 
3,218,096

 
4.2
%
 
5.0
%
 
14.62

 
14.86

 
 
50

 
1,214,763

 
2.2
%
 
1.9
%
 
8.28

 
8.31

 
 
840

 
2,003,333

 
9.5
%
 
8.7
%
 
18.46

 
18.82

 
 
2020
 
892

 
3,540,600

 
4.6
%
 
5.5
%
 
14.82

 
15.31

 
 
52

 
1,501,761

 
2.7
%
 
2.4
%
 
8.25

 
8.39

 
 
840

 
2,038,839

 
9.7
%
 
9.5
%
 
19.66

 
20.41

 
 
2021
 
732

 
2,602,559

 
3.4
%
 
4.6
%
 
16.62

 
17.45

 
 
41

 
918,237

 
1.6
%
 
1.7
%
 
9.72

 
9.93

 
 
691

 
1,684,322

 
8.0
%
 
8.1
%
 
20.38

 
21.55

 
 
2022
 
667

 
2,448,256

 
3.2
%
 
4.4
%
 
17.00

 
18.35

 
 
42

 
833,491

 
1.5
%
 
1.7
%
 
10.50

 
11.00

 
 
625

 
1,614,765

 
7.7
%
 
7.8
%
 
20.36

 
22.15

 
 
2023
 
452

 
2,257,546

 
2.9
%
 
3.6
%
 
14.99

 
16.54

 
 
52

 
1,062,276

 
1.9
%
 
1.9
%
 
9.17

 
10.14

 
 
400

 
1,195,270

 
5.7
%
 
5.7
%
 
20.17

 
22.23

 
 
2024
 
429

 
2,522,798

 
3.3
%
 
3.5
%
 
13.02

 
14.48

 
 
48

 
1,392,398

 
2.5
%
 
2.1
%
 
7.94

 
8.67

 
 
381

 
1,130,400

 
5.4
%
 
5.1
%
 
19.29

 
21.65

 
 
2025
 
335

 
2,423,566

 
3.1
%
 
3.3
%
 
12.78

 
14.24

 
 
64

 
1,640,529

 
2.9
%
 
2.9
%
 
9.08

 
9.96

 
 
271

 
783,037

 
3.7
%
 
3.8
%
 
20.52

 
23.22

 
 
2026
 
329

 
2,115,127

 
2.7
%
 
3.2
%
 
14.50

 
16.47

 
 
44

 
1,168,247

 
2.1
%
 
2.0
%
 
9.02

 
10.09

 
 
285

 
946,880

 
4.5
%
 
4.8
%
 
21.26

 
24.33

 
 
2027+
2,841

 
50,438,322

 
65.5
%
 
58.6
%
 
10.99

 
16.41

 
 
1,255

 
44,246,745

 
79.1
%
 
80.4
%
 
9.49

 
14.74

 
 
1,586

 
6,191,577

 
29.4
%
 
31.8
%
 
21.73

 
28.31

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

 
By GLA
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Twelve Months Ended 9/30/17
 
 
 
79.3%
 
83.1%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


Supplemental Disclosure - Three Months Ended September 30, 2017
Page 32
jpgstandardlogoa21.jpg




PROPERTIES BY LARGEST US MSAs
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent of
 
 
 
 
 
 
 
 
 
 
 
Number of
 
 
 
Percent
 
Percent
 
 
 
 
 
Number of
 
Percent
 
Percent
 
 
 
Largest US MSAs by 2016 Population
 
 
 
Properties
 
 GLA
 
Billed
 
Leased
 
 ABR
 
 ABR PSF
 
Properties
 
of GLA
 
of ABR
 
 
1

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

 
3,644,025

 
90.6
%
 
91.9
%
 
$
65,102

 
$
19.61

 
6.0
%
 
4.3
%
 
6.9
%
 
 
2

Los Angeles-Long Beach-Anaheim, CA
 
 
 
9

 
1,684,984

 
94.9
%
 
97.8
%
 
29,806

 
19.90

 
1.8
%
 
2.0
%
 
3.2
%
 
 
3

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

 
3,912,258

 
80.3
%
 
83.9
%
 
42,846

 
13.77

 
3.0
%
 
4.7
%
 
4.5
%
 
 
4

Dallas-Fort Worth-Arlington, TX
 
 
 
16

 
3,119,970

 
88.9
%
 
90.8
%
 
43,455

 
15.48

 
3.2
%
 
3.7
%
 
4.6
%
 
 
5

Houston-The Woodlands-Sugar Land, TX
 
 
 
36

 
4,527,429

 
89.5
%
 
90.9
%
 
47,359

 
12.04

 
7.2
%
 
5.4
%
 
5.0
%
 
 
6

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

 
451,260

 
97.9
%
 
98.6
%
 
4,939

 
11.10

 
0.6
%
 
0.5
%
 
0.5
%
 
 
7

Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
 
25

 
4,044,537

 
92.6
%
 
94.8
%
 
54,380

 
16.27

 
5.0
%
 
4.8
%
 
5.8
%
 
 
8

Miami-Fort Lauderdale-West Palm Beach, FL
 
 
 
9

 
1,489,439

 
86.7
%
 
88.4
%
 
17,866

 
14.15

 
1.8
%
 
1.8
%
 
1.9
%
 
 
9

Atlanta-Sandy Springs-Roswell, GA
 
 
 
25

 
3,666,065

 
90.6
%
 
93.0
%
 
37,195

 
11.22

 
5.0
%
 
4.4
%
 
3.9
%
 
 
10

Boston-Cambridge-Newton, MA-NH
 
 
 
6

 
707,909

 
95.8
%
 
96.0
%
 
8,483

 
12.53

 
1.2
%
 
0.8
%
 
0.9
%
 
 
 
Top 10 Largest US MSAs by Population
 
 
 
174

 
27,247,876

 
89.4
%
 
91.4
%
 
351,431

 
14.82

 
34.8
%
 
32.4
%
 
37.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11

San Francisco-Oakland-Hayward, CA
 
 
 
2

 
506,576

 
88.9
%
 
95.4
%
 
9,593

 
24.78

 
0.4
%
 
0.6
%
 
1.0
%
 
 
12

Phoenix-Mesa-Scottsdale, AZ
 
 
 
1

 
119,525

 
83.1
%
 
85.5
%
 
1,306

 
12.78

 
0.2
%
 
0.1
%
 
0.1
%
 
 
13

Riverside-San Bernardino-Ontario, CA
 
 
 
4

 
537,088

 
96.9
%
 
97.2
%
 
7,287

 
15.57

 
0.8
%
 
0.6
%
 
0.8
%
 
 
14

Detroit-Warren-Dearborn, MI
 
 
 
9

 
1,616,581

 
84.4
%
 
85.8
%
 
16,089

 
12.60

 
1.8
%
 
1.9
%
 
1.7
%
 
 
15

Seattle-Tacoma-Bellevue, WA
 
 
 
0

 

 

 

 

 

 

 

 

 
 
16

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

 
1,179,668

 
86.5
%
 
87.2
%
 
12,948

 
13.45

 
1.6
%
 
1.4
%
 
1.4
%
 
 
17

San Diego-Carlsbad, CA
 
 
 
3

 
633,896

 
85.9
%
 
95.0
%
 
12,523

 
21.34

 
0.6
%
 
0.8
%
 
1.3
%
 
 
18

Tampa-St. Petersburg-Clearwater, FL
 
 
 
15

 
2,410,079

 
90.5
%
 
91.1
%
 
27,804

 
13.70

 
3.0
%
 
2.9
%
 
2.9
%
 
 
19

Denver-Aurora-Lakewood, CO
 
 
 
5

 
1,193,943

 
86.9
%
 
88.7
%
 
14,403

 
13.67

 
1.0
%
 
1.4
%
 
1.5
%
 
 
20

St. Louis, MO-IL
 
 
 
4

 
663,261

 
84.9
%
 
89.2
%
 
5,403

 
9.23

 
0.8
%
 
0.8
%
 
0.6
%
 
 
 
Top 20 Largest US MSAs by Population
 
 
 
225

 
36,108,493

 
89.0
%
 
91.1
%
 
458,787

 
14.72

 
45.0
%
 
42.9
%
 
48.5
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
21

Baltimore-Columbia-Towson, MD
 
 
 
1

 
57,954

 
97.1
%
 
97.1
%
 
910

 
16.17

 
0.2
%
 
0.1
%
 
0.1
%
 
 
22

Charlotte-Concord-Gastonia, NC-SC
 
 
 
6

 
1,714,319

 
88.7
%
 
93.6
%
 
14,646

 
10.18

 
1.2
%
 
2.0
%
 
1.5
%
 
 
23

Orlando-Kissimmee-Sanford, FL
 
 
 
5

 
808,229

 
90.0
%
 
93.7
%
 
14,283

 
19.16

 
1.0
%
 
1.0
%
 
1.5
%
 
 
24

San Antonio-New Braunfels, TX
 
 
 
0

 

 

 

 

 

 

 

 

 
 
25

Portland-Vancouver-Hillsboro, OR-WA
 
 
 
0

 

 

 

 

 

 

 

 

 
 
26

Pittsburgh, PA
 
 
 
1

 
199,079

 
100.0
%
 
100.0
%
 
1,932

 
10.76

 
0.2
%
 
0.2
%
 
0.2
%
 
 
27

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

 
103,695

 
91.6
%
 
92.8
%
 
1,890

 
19.63

 
0.2
%
 
0.1
%
 
0.2
%
 
 
28

Cincinnati, OH-KY-IN
 
 
 
7

 
1,930,720

 
94.5
%
 
94.6
%
 
21,019

 
14.57

 
1.4
%
 
2.3
%
 
2.2
%
 
 
29

Las Vegas-Henderson-Paradise, NV
 
 
 
1

 
278,411

 
100.0
%
 
100.0
%
 
3,267

 
11.88

 
0.2
%
 
0.3
%
 
0.3
%
 
 
30

Kansas City, MO-KS
 
 
 
4

 
601,926

 
88.8
%
 
89.5
%
 
4,370

 
8.26

 
0.8
%
 
0.7
%
 
0.5
%
 
 
31

Austin-Round Rock, TX
 
 
 
1

 
169,552

 
76.5
%
 
76.5
%
 
1,557

 
12.01

 
0.2
%
 
0.2
%
 
0.2
%
 
 
32

Cleveland-Elyria, OH
 
 
 
5

 
1,166,636

 
88.7
%
 
93.7
%
 
12,189

 
11.18

 
1.0
%
 
1.4
%
 
1.3
%
 
 
33

Columbus, OH
 
 
 
4

 
449,488

 
86.8
%
 
87.6
%
 
3,924

 
10.48

 
0.8
%
 
0.5
%
 
0.4
%
 
 
34

Indianapolis-Carmel-Anderson, IN
 
 
 
4

 
887,958

 
80.2
%
 
88.3
%
 
7,220

 
9.24

 
0.8
%
 
1.1
%
 
0.8
%
 
 
35

San Jose-Sunnyvale-Santa Clara, CA
 
 
 
0

 

 

 

 

 

 

 

 

 
 
36

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

 
1,279,571

 
93.7
%
 
94.5
%
 
13,456

 
11.19

 
1.4
%
 
1.5
%
 
1.4
%
 
 
37

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

 
205,245

 
96.4
%
 
99.3
%
 
3,395

 
16.78

 
0.4
%
 
0.2
%
 
0.4
%
 
 
38

Providence-Warwick, RI-MA
 
 
 
1

 
148,126

 
80.8
%
 
83.8
%
 
1,361

 
10.96

 
0.2
%
 
0.2
%
 
0.1
%
 
 
39

Milwaukee-Waukesha-West Allis, WI
 
 
 
4

 
710,327

 
90.1
%
 
90.3
%
 
6,553

 
10.66

 
0.8
%
 
0.8
%
 
0.7
%
 
 
40

Jacksonville, FL
 
 
 
5

 
834,493

 
82.7
%
 
85.5
%
 
8,486

 
12.03

 
1.0
%
 
1.0
%
 
0.9
%
 
 
41

Oklahoma City, OK
 
 
 
0

 

 

 

 

 

 

 

 

 
 
42

Memphis, TN-MS-AR
 
 
 
1

 
659,193

 
75.3
%
 
83.7
%
 
8,290

 
15.70

 
0.2
%
 
0.8
%
 
0.9
%
 

Supplemental Disclosure - Three Months Ended September 30, 2017
Page 33
jpgstandardlogoa21.jpg




PROPERTIES BY LARGEST US MSAs
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent of
 
 
 
 
 
 
 
 
 
 
 
Number of
 
 
 
Percent
 
Percent
 
 
 
 
 
Number of
 
Percent
 
Percent
 
 
 
Largest US MSAs by 2016 Population
 
 
 
Properties
 
 GLA
 
Billed
 
Leased
 
 ABR
 
 ABR PSF
 
Properties
 
of GLA
 
of ABR
 
 
43

Raleigh, NC
 
 
 
2

 
291,027

 
74.6
%
 
94.9
%
 
3,618

 
13.21

 
0.4
%
 
0.3
%
 
0.4
%
 
 
44

Louisville/Jefferson County, KY-IN
 
 
 
4

 
707,728

 
93.5
%
 
93.8
%
 
6,960

 
10.78

 
0.8
%
 
0.8
%
 
0.7
%
 
 
45

Richmond, VA
 
 
 
2

 
215,897

 
96.8
%
 
97.3
%
 
2,966

 
14.12

 
0.4
%
 
0.3
%
 
0.3
%
 
 
46

New Orleans-Metairie, LA
 
 
 
0

 

 

 

 

 

 

 

 

 
 
47

Hartford-West Hartford-East Hartford, CT
 
 
 
4

 
896,011

 
93.8
%
 
96.4
%
 
12,096

 
16.64

 
0.8
%
 
1.1
%
 
1.3
%
 
 
48

Salt Lake City, UT
 
 
 
0

 

 

 

 

 

 

 

 

 
 
49

Birmingham-Hoover, AL
 
 
 
0

 

 

 

 

 

 

 

 

 
 
50

Buffalo-Cheektowaga-Niagara Falls, NY
 
 
 
0

 

 

 

 

 

 

 

 

 
 
 
Top 50 Largest US MSAs by Population
 
 
 
297

 
50,424,078

 
89.1
%
 
91.4
%
 
613,175

 
14.09

 
59.6
%
 
60.0
%
 
64.8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
MSAs Ranked 51 - 100 by Population
 
 
 
65

 
11,542,514

 
90.7
%
 
92.4
%
 
119,349

 
12.40

 
13.1
%
 
13.7
%
 
12.6
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other MSAs
 
 
 
136

 
22,125,278

 
90.4
%
 
91.6
%
 
213,197

 
11.80

 
27.3
%
 
26.3
%
 
22.6
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL
 
 
 
498

 
84,091,870

 
89.6
%
 
91.6
%
 
$
945,721

 
$
13.28

 
100.0
%
 
100.0
%
 
100.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




Supplemental Disclosure - Three Months Ended September 30, 2017
Page 34
jpgstandardlogoa21.jpg




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

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

 
3,644,025

 
90.6
%
 
91.9
%
 
$
65,102

 
$
19.61

 
6.0
%
 
4.3
%
 
6.9
%
 
 
2

Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
7
 
25

 
4,044,537

 
92.6
%
 
94.8
%
 
54,380

 
16.27

 
5.0
%
 
4.8
%
 
5.8
%
 
 
3

Houston-The Woodlands-Sugar Land, TX
 
5
 
36

 
4,527,429

 
89.5
%
 
90.9
%
 
47,359

 
12.04

 
7.2
%
 
5.4
%
 
5.0
%
 
 
4

Dallas-Fort Worth-Arlington, TX
 
4
 
16

 
3,119,970

 
88.9
%
 
90.8
%
 
43,455

 
15.48

 
3.2
%
 
3.7
%
 
4.6
%
 
 
5

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

 
3,912,258

 
80.3
%
 
83.9
%
 
42,846

 
13.77

 
3.0
%
 
4.7
%
 
4.5
%
 
 
6

Atlanta-Sandy Springs-Roswell, GA
 
9
 
25

 
3,666,065

 
90.6
%
 
93.0
%
 
37,195

 
11.22

 
5.0
%
 
4.4
%
 
3.9
%
 
 
7

Los Angeles-Long Beach-Anaheim, CA
 
2
 
9

 
1,684,984

 
94.9
%
 
97.8
%
 
29,806

 
19.90

 
1.8
%
 
2.0
%
 
3.2
%
 
 
8

Tampa-St. Petersburg-Clearwater, FL
 
18
 
15

 
2,410,079

 
90.5
%
 
91.1
%
 
27,804

 
13.70

 
3.0
%
 
2.9
%
 
2.9
%
 
 
9

Cincinnati, OH-KY-IN
 
28
 
7

 
1,930,720

 
94.5
%
 
94.6
%
 
21,019

 
14.57

 
1.4
%
 
2.3
%
 
2.2
%
 
 
10

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

 
1,489,439

 
86.7
%
 
88.4
%
 
17,866

 
14.15

 
1.8
%
 
1.8
%
 
1.9
%
 
 
 
10 Largest MSAs by ABR
 
 
187

 
30,429,506

 
89.5
%
 
91.4
%
 
386,832

 
14.84

 
37.4
%
 
36.3
%
 
40.9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11

Detroit-Warren-Dearborn, MI
 
14
 
9

 
1,616,581

 
84.4
%
 
85.8
%
 
16,089

 
12.60

 
1.8
%
 
1.9
%
 
1.7
%
 
 
12

Charlotte-Concord-Gastonia, NC-SC
 
22
 
6

 
1,714,319

 
88.7
%
 
93.6
%
 
14,646

 
10.18

 
1.2
%
 
2.0
%
 
1.5
%
 
 
13

Denver-Aurora-Lakewood, CO
 
19
 
5

 
1,193,943

 
86.9
%
 
88.7
%
 
14,403

 
13.67

 
1.0
%
 
1.4
%
 
1.5
%
 
 
14

Orlando-Kissimmee-Sanford, FL
 
23
 
5

 
808,229

 
90.0
%
 
93.7
%
 
14,283

 
19.16

 
1.0
%
 
1.0
%
 
1.5
%
 
 
15

Allentown-Bethlehem-Easton, PA-NJ
 
69
 
5

 
1,294,979

 
97.3
%
 
97.3
%
 
13,994

 
13.26

 
1.0
%
 
1.5
%
 
1.5
%
 
 
16

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

 
1,279,571

 
93.7
%
 
94.5
%
 
13,456

 
11.19

 
1.4
%
 
1.5
%
 
1.4
%
 
 
17

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

 
1,179,668

 
86.5
%
 
87.2
%
 
12,948

 
13.45

 
1.6
%
 
1.4
%
 
1.4
%
 
 
18

San Diego-Carlsbad, CA
 
17
 
3

 
633,896

 
85.9
%
 
95.0
%
 
12,523

 
21.34

 
0.6
%
 
0.8
%
 
1.3
%
 
 
19

Cleveland-Elyria, OH
 
32
 
5

 
1,166,636

 
88.7
%
 
93.7
%
 
12,189

 
11.18

 
1.0
%
 
1.4
%
 
1.3
%
 
 
20

Hartford-West Hartford-East Hartford, CT
 
47
 
4

 
896,011

 
93.8
%
 
96.4
%
 
12,096

 
16.64

 
0.8
%
 
1.1
%
 
1.3
%
 
 
 
20 Largest MSAs by ABR
 
 
244

 
42,213,339

 
89.5
%
 
91.6
%
 
523,459

 
14.46

 
48.8
%
 
50.3
%
 
55.3
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
21

Naples-Immokalee-Marco Island, FL
 
145
 
4

 
774,113

 
93.5
%
 
95.8
%
 
11,718

 
15.99

 
0.8
%
 
0.9
%
 
1.2
%
 
 
22

Ann Arbor, MI
 
146
 
4

 
1,061,249

 
91.5
%
 
92.4
%
 
11,262

 
13.69

 
0.8
%
 
1.3
%
 
1.2
%
 
 
23

Oxnard-Thousand Oaks-Ventura, CA
 
67
 
3

 
677,512

 
96.1
%
 
98.0
%
 
11,192

 
17.21

 
0.6
%
 
0.8
%
 
1.2
%
 
 
24

Binghamton, NY
 
189
 
4

 
751,207

 
99.7
%
 
99.7
%
 
10,285

 
13.74

 
0.8
%
 
0.9
%
 
1.1
%
 
 
25

San Francisco-Oakland-Hayward, CA
 
11
 
2

 
506,576

 
88.9
%
 
95.4
%
 
9,593

 
24.78

 
0.4
%
 
0.6
%
 
1.0
%
 
 
26

Vallejo-Fairfield, CA
 
122
 
1

 
525,115

 
89.9
%
 
94.2
%
 
8,846

 
18.12

 
0.2
%
 
0.6
%
 
0.9
%
 
 
27

Jacksonville, FL
 
40
 
5

 
834,493

 
82.7
%
 
85.5
%
 
8,486

 
12.03

 
1.0
%
 
1.0
%
 
0.9
%
 
 
28

Boston-Cambridge-Newton, MA-NH
 
10
 
6

 
707,909

 
95.8
%
 
96.0
%
 
8,483

 
12.53

 
1.2
%
 
0.8
%
 
0.9
%
 
 
29

Memphis, TN-MS-AR
 
42
 
1

 
659,193

 
75.3
%
 
83.7
%
 
8,290

 
15.70

 
0.2
%
 
0.8
%
 
0.9
%
 
 
30

Port St. Lucie, FL
 
111
 
5

 
636,145

 
83.2
%
 
84.4
%
 
7,703

 
14.47

 
1.0
%
 
0.8
%
 
0.8
%
 
 
31

Fresno, CA
 
56
 
2

 
442,299

 
97.1
%
 
97.1
%
 
7,569

 
17.86

 
0.4
%
 
0.5
%
 
0.8
%
 
 
32

New Haven-Milford, CT
 
65
 
6

 
571,463

 
90.3
%
 
91.7
%
 
7,289

 
13.90

 
1.2
%
 
0.7
%
 
0.8
%
 
 
33

Riverside-San Bernardino-Ontario, CA
 
13
 
4

 
537,088

 
96.9
%
 
97.2
%
 
7,287

 
15.57

 
0.8
%
 
0.6
%
 
0.8
%
 
 
34

Indianapolis-Carmel-Anderson, IN
 
34
 
4

 
887,958

 
80.2
%
 
88.3
%
 
7,220

 
9.24

 
0.8
%
 
1.1
%
 
0.8
%
 
 
35

Louisville/Jefferson County, KY-IN
 
44
 
4

 
707,728

 
93.5
%
 
93.8
%
 
6,960

 
10.78

 
0.8
%
 
0.8
%
 
0.7
%
 
 
36

Norwich-New London, CT
 
177
 
2

 
433,532

 
96.5
%
 
96.5
%
 
6,826

 
16.32

 
0.4
%
 
0.5
%
 
0.7
%
 
 
37

Milwaukee-Waukesha-West Allis, WI
 
39
 
4

 
710,327

 
90.1
%
 
90.3
%
 
6,553

 
10.66

 
0.8
%
 
0.8
%
 
0.7
%
 
 
38

Worcester, MA-CT
 
58
 
3

 
517,769

 
81.6
%
 
89.1
%
 
5,544

 
14.19

 
0.6
%
 
0.6
%
 
0.6
%
 
 
39

College Station-Bryan, TX
 
187
 
4

 
491,463

 
95.8
%
 
96.6
%
 
5,540

 
13.98

 
0.8
%
 
0.6
%
 
0.6
%
 
 
40

Wilmington, NC
 
167
 
2

 
379,107

 
98.2
%
 
98.6
%
 
5,519

 
14.91

 
0.4
%
 
0.5
%
 
0.6
%
 
 
41

Springfield, MA
 
90
 
3

 
450,901

 
96.9
%
 
97.4
%
 
5,503

 
14.79

 
0.6
%
 
0.5
%
 
0.6
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2017
Page 35
jpgstandardlogoa21.jpg




LARGEST MSAs BY ABR
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent of
 
 
 
 
 
 
 
 
 
 
 
Number of
 
 
 
Percent
 
Percent
 
 
 
 
 
Number of
 
Percent
 
Percent
 
 
 
Largest MSAs by ABR
 
MSA Rank
 
Properties
 
 GLA
 
Billed
 
Leased
 
 ABR
 
 ABR PSF
 
Properties
 
of GLA
 
of ABR
 
 
42

North Port-Sarasota-Bradenton, FL
 
73
 
4

 
556,862

 
93.8
%
 
96.9
%
 
5,433

 
10.15

 
0.8
%
 
0.7
%
 
0.6
%
 
 
43

St. Louis, MO-IL
 
20
 
4

 
663,261

 
84.9
%
 
89.2
%
 
5,403

 
9.23

 
0.8
%
 
0.8
%
 
0.6
%
 
 
44

Corpus Christi, TX
 
115
 
4

 
563,740

 
89.9
%
 
91.4
%
 
5,194

 
12.11

 
0.8
%
 
0.7
%
 
0.5
%
 
 
45

Dayton, OH
 
72
 
3

 
534,385

 
96.3
%
 
96.6
%
 
5,181

 
12.34

 
0.6
%
 
0.6
%
 
0.5
%
 
 
46

Winston-Salem, NC
 
83
 
3

 
439,161

 
91.2
%
 
92.4
%
 
5,105

 
13.09

 
0.6
%
 
0.5
%
 
0.5
%
 
 
47

Scranton--Wilkes-Barre--Hazleton, PA
 
99
 
2

 
620,309

 
91.0
%
 
92.9
%
 
5,101

 
21.26

 
0.4
%
 
0.7
%
 
0.5
%
 
 
48

Greensboro-High Point, NC
75
 
1

 
406,768

 
99.0
%
 
99.5
%
 
4,998

 
14.45

 
0.2
%
 
0.5
%
 
0.5
%
 
 
49

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

 
451,260

 
97.9
%
 
98.6
%
 
4,939

 
11.10

 
0.6
%
 
0.5
%
 
0.5
%
 
 
50

Kansas City, MO-KS
 
30
 
4

 
601,926

 
88.8
%
 
89.5
%
 
4,370

 
8.26

 
0.8
%
 
0.7
%
 
0.5
%
 
 
 
50 Largest MSAs by ABR
 
 
345

 
60,314,158

 
89.9
%
 
92.1
%
 
736,851

 
14.23

 
69.0
%
 
71.7
%
 
77.8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
51

Roanoke, VA
 
160
 
4

 
522,210

 
91.8
%
 
91.8
%
 
3,977

 
9.47

 
0.8
%
 
0.6
%
 
0.4
%
 
 
52

Columbus, OH
 
33
 
4

 
449,488

 
86.8
%
 
87.6
%
 
3,924

 
10.48

 
0.8
%
 
0.5
%
 
0.4
%
 
 
53

Manchester-Nashua, NH
 
132
 
2

 
348,189

 
79.2
%
 
85.1
%
 
3,897

 
23.42

 
0.4
%
 
0.4
%
 
0.4
%
 
 
54

Pittsfield, MA
 
321
 
1

 
442,354

 
96.3
%
 
96.3
%
 
3,813

 
20.92

 
0.2
%
 
0.5
%
 
0.4
%
 
 
55

Boulder, CO
 
155
 
1

 
279,189

 
80.0
%
 
80.5
%
 
3,783

 
16.83

 
0.2
%
 
0.3
%
 
0.4
%
 
 
56

Charleston-North Charleston, SC
 
74
 
3

 
556,809

 
77.4
%
 
77.5
%
 
3,775

 
8.95

 
0.6
%
 
0.7
%
 
0.4
%
 
 
57

Panama City, FL
 
221
 
2

 
397,512

 
92.3
%
 
99.2
%
 
3,683

 
9.34

 
0.4
%
 
0.5
%
 
0.4
%
 
 
58

Raleigh, NC
 
43
 
2

 
291,027

 
74.6
%
 
94.9
%
 
3,618

 
13.21

 
0.4
%
 
0.3
%
 
0.4
%
 
 
59

Spartanburg, SC
 
153
 
1

 
360,277

 
88.9
%
 
88.9
%
 
3,587

 
11.78

 
0.2
%
 
0.4
%
 
0.4
%
 
 
60

Greenville-Anderson-Mauldin, SC
 
61
 
2

 
220,723

 
98.8
%
 
100.0
%
 
3,566

 
16.16

 
0.4
%
 
0.3
%
 
0.4
%
 
 
61

Saginaw, MI
 
226
 
2

 
430,195

 
95.6
%
 
96.4
%
 
3,402

 
11.58

 
0.4
%
 
0.5
%
 
0.4
%
 
 
62

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

 
205,245

 
96.4
%
 
99.3
%
 
3,395

 
16.78

 
0.4
%
 
0.2
%
 
0.4
%
 
 
63

Atlantic City-Hammonton, NJ
 
176
 
1

 
179,199

 
98.2
%
 
98.2
%
 
3,315

 
18.84

 
0.2
%
 
0.2
%
 
0.4
%
 
 
64

Bakersfield, CA
 
62
 
1

 
240,328

 
90.7
%
 
90.7
%
 
3,301

 
15.43

 
0.2
%
 
0.3
%
 
0.3
%
 
 
65

Las Vegas-Henderson-Paradise, NV
 
29
 
1

 
278,411

 
100.0
%
 
100.0
%
 
3,267

 
11.88

 
0.2
%
 
0.3
%
 
0.3
%
 
 
66

Toledo, OH
 
91
 
2

 
609,113

 
83.7
%
 
83.7
%
 
3,156

 
7.81

 
0.4
%
 
0.7
%
 
0.3
%
 
 
67

Hilton Head Island-Bluffton-Beaufort, SC
 
210
 
2

 
230,352

 
95.0
%
 
95.6
%
 
3,133

 
14.22

 
0.4
%
 
0.3
%
 
0.3
%
 
 
68

Jackson, MS
 
94
 
2

 
333,275

 
88.6
%
 
88.6
%
 
3,075

 
10.91

 
0.4
%
 
0.4
%
 
0.3
%
 
 
69

Greenville, NC
 
239
 
1

 
233,153

 
96.2
%
 
96.2
%
 
3,028

 
13.50

 
0.2
%
 
0.3
%
 
0.3
%
 
 
70

Des Moines-West Des Moines, IA
 
89
 
2

 
513,385

 
91.2
%
 
95.9
%
 
2,987

 
6.13

 
0.4
%
 
0.6
%
 
0.3
%
 
 
71

Richmond, VA
 
45
 
2

 
215,897

 
96.8
%
 
97.3
%
 
2,966

 
14.12

 
0.4
%
 
0.3
%
 
0.3
%
 
 
72

Traverse City, MI
 
284
 
1

 
411,758

 
99.1
%
 
100.0
%
 
2,960

 
27.43

 
0.2
%
 
0.5
%
 
0.3
%
 
 
73

Lexington-Fayette, KY
 
106
 
2

 
414,960

 
97.6
%
 
100.0
%
 
2,912

 
7.02

 
0.4
%
 
0.5
%
 
0.3
%
 
 
74

Lafayette, LA
 
108
 
3

 
438,211

 
91.5
%
 
92.7
%
 
2,841

 
7.08

 
0.6
%
 
0.5
%
 
0.3
%
 
 
75

Tullahoma-Manchester, TN
 
375
 
3

 
433,744

 
97.0
%
 
97.0
%
 
2,837

 
6.75

 
0.6
%
 
0.5
%
 
0.3
%
 
 
76

Blacksburg-Christiansburg-Radford, VA
 
230
 
1

 
181,055

 
98.9
%
 
100.0
%
 
2,747

 
15.43

 
0.2
%
 
0.2
%
 
0.3
%
 
 
77

Odessa, TX
 
264
 
1

 
365,559

 
90.4
%
 
93.2
%
 
2,680

 
13.17

 
0.2
%
 
0.4
%
 
0.3
%
 
 
78

Savannah, GA
 
137
 
2

 
224,181

 
74.9
%
 
91.8
%
 
2,622

 
12.92

 
0.4
%
 
0.3
%
 
0.3
%
 
 
79

Lancaster, PA
 
103
 
3

 
236,006

 
97.2
%
 
99.4
%
 
2,600

 
11.09

 
0.6
%
 
0.3
%
 
0.3
%
 
 
80

Bridgeport-Stamford-Norwalk, CT
 
57
 
1

 
161,075

 
88.0
%
 
88.0
%
 
2,479

 
17.49

 
0.2
%
 
0.2
%
 
0.3
%
 
 
81

Chattanooga, TN-GA
 
100
 
2

 
339,426

 
96.6
%
 
96.6
%
 
2,446

 
8.08

 
0.4
%
 
0.4
%
 
0.3
%
 
 
82

Fort Wayne, IN
 
125
 
2

 
253,951

 
79.3
%
 
83.1
%
 
2,436

 
13.42

 
0.4
%
 
0.3
%
 
0.3
%
 
 
83

Merced, CA
 
178
 
1

 
147,557

 
100.0
%
 
100.0
%
 
2,399

 
16.26

 
0.2
%
 
0.2
%
 
0.3
%
 
 
84

Mobile, AL
 
128
 
1

 
606,731

 
46.7
%
 
46.7
%
 
2,355

 
8.56

 
0.2
%
 
0.7
%
 
0.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2017
Page 36
jpgstandardlogoa21.jpg




LARGEST MSAs BY ABR
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent of
 
 
 
 
 
 
 
 
 
 
 
Number of
 
 
 
Percent
 
Percent
 
 
 
 
 
Number of
 
Percent
 
Percent
 
 
 
Largest MSAs by ABR
 
MSA Rank
 
Properties
 
 GLA
 
Billed
 
Leased
 
 ABR
 
 ABR PSF
 
Properties
 
of GLA
 
of ABR
 
 
85

Dover, DE
 
241
 
1

 
191,974

 
98.3
%
 
98.3
%
 
2,238

 
11.86

 
0.2
%
 
0.2
%
 
0.2
%
 
 
86

Elkhart-Goshen, IN
 
219
 
2

 
329,319

 
86.3
%
 
86.3
%
 
2,199

 
18.50

 
0.4
%
 
0.4
%
 
0.2
%
 
 
87

Syracuse, NY
 
84
 
2

 
347,412

 
58.8
%
 
77.9
%
 
2,155

 
7.96

 
0.4
%
 
0.4
%
 
0.2
%
 
 
88

Duluth, MN-WI
 
171
 
1

 
182,969

 
95.5
%
 
97.7
%
 
2,122

 
11.88

 
0.2
%
 
0.2
%
 
0.2
%
 
 
89

Concord, NH
 
286
 
1

 
182,887

 
100.0
%
 
100.0
%
 
2,036

 
11.39

 
0.2
%
 
0.2
%
 
0.2
%
 
 
90

Hickory-Lenoir-Morganton, NC
 
147
 
2

 
295,970

 
81.7
%
 
81.7
%
 
2,014

 
8.33

 
0.4
%
 
0.4
%
 
0.2
%
 
 
91

Altoona, PA
 
327
 
1

 
278,586

 
79.7
%
 
79.7
%
 
1,974

 
8.89

 
0.2
%
 
0.3
%
 
0.2
%
 
 
92

Santa Maria-Santa Barbara, CA
 
119
 
1

 
179,549

 
100.0
%
 
100.0
%
 
1,971

 
11.83

 
0.2
%
 
0.2
%
 
0.2
%
 
 
93

Rutland, VT
 
532
 
1

 
224,514

 
98.6
%
 
98.6
%
 
1,971

 
8.91

 
0.2
%
 
0.3
%
 
0.2
%
 
 
94

Pittsburgh, PA
 
26
 
1

 
199,079

 
100.0
%
 
100.0
%
 
1,932

 
10.76

 
0.2
%
 
0.2
%
 
0.2
%
 
 
95

Tucson, AZ
 
53
 
1

 
168,585

 
96.8
%
 
96.8
%
 
1,893

 
11.60

 
0.2
%
 
0.2
%
 
0.2
%
 
 
96

York-Hanover, PA
 
120
 
1

 
153,088

 
94.2
%
 
95.2
%
 
1,892

 
13.24

 
0.2
%
 
0.2
%
 
0.2
%
 
 
97

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

 
103,695

 
91.6
%
 
92.8
%
 
1,890

 
19.63

 
0.2
%
 
0.1
%
 
0.2
%
 
 
98

Portland-South Portland, ME
 
104
 
1

 
287,513

 
90.0
%
 
90.0
%
 
1,868

 
20.65

 
0.2
%
 
0.3
%
 
0.2
%
 
 
99

Tulsa, OK
 
55
 
1

 
186,851

 
100.0
%
 
100.0
%
 
1,837

 
9.83

 
0.2
%
 
0.2
%
 
0.2
%
 
 
100

Trenton, NJ
 
143
 
2

 
205,557

 
94.4
%
 
94.4
%
 
1,825

 
9.41

 
0.4
%
 
0.2
%
 
0.2
%
 
 
 
100 Largest MSAs by ABR
 
 
428

 
75,382,251

 
89.7
%
 
91.8
%
 
875,630

 
13.72

 
85.9
%
 
89.6
%
 
92.6
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other MSAs
 
 
70

 
8,709,619

 
89.5
%
 
90.2
%
 
70,091

 
9.46

 
14.1
%
 
10.4
%
 
7.4
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL
 
 
498

 
84,091,870

 
89.6
%
 
91.6
%
 
$
945,721

 
$
13.28

 
100.0
%
 
100.0
%
 
100.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




Supplemental Disclosure - Three Months Ended September 30, 2017
Page 37
jpgstandardlogoa21.jpg




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

Texas
 
65

 
9,510,304

 
89.4
%
 
90.9
%
 
$
107,934

 
$
13.30

 
13.1
%
 
11.3
%
 
11.4
%
 
 
2

Florida
 
55

 
8,655,310

 
89.1
%
 
91.0
%
 
104,204

 
13.67

 
11.0
%
 
10.3
%
 
11.0
%
 
 
3

California
 
30

 
5,969,237

 
93.6
%
 
96.7
%
 
98,508

 
18.48

 
6.0
%
 
7.1
%
 
10.4
%
 
 
4

Pennsylvania
 
34

 
5,839,714

 
93.3
%
 
94.3
%
 
66,949

 
14.55

 
6.8
%
 
6.9
%
 
7.1
%
 
 
5

New York
 
30

 
3,810,062

 
89.9
%
 
92.5
%
 
61,635

 
17.92

 
6.0
%
 
4.5
%
 
6.5
%
 
 
6

Illinois
 
23

 
4,748,525

 
82.1
%
 
85.2
%
 
49,267

 
12.73

 
4.6
%
 
5.6
%
 
5.2
%
 
 
7

Georgia
 
35

 
4,868,395

 
88.1
%
 
90.8
%
 
45,543

 
10.54

 
7.0
%
 
5.8
%
 
4.8
%
 
 
8

New Jersey
 
18

 
3,090,437

 
90.8
%
 
92.9
%
 
42,912

 
15.85

 
3.6
%
 
3.7
%
 
4.5
%
 
 
9

North Carolina
 
21

 
4,332,451

 
89.8
%
 
93.3
%
 
42,337

 
11.28

 
4.2
%
 
5.2
%
 
4.5
%
 
 
10

Ohio
 
22

 
4,239,187

 
91.6
%
 
93.2
%
 
40,896

 
11.76

 
4.4
%
 
5.0
%
 
4.3
%
 
 
11

Michigan
 
20

 
4,078,614

 
89.4
%
 
90.4
%
 
39,068

 
13.09

 
4.0
%
 
4.9
%
 
4.1
%
 
 
12

Connecticut
 
14

 
2,187,577

 
92.5
%
 
93.9
%
 
29,897

 
15.59

 
2.8
%
 
2.6
%
 
3.2
%
 
 
13

Tennessee
 
15

 
3,063,088

 
90.6
%
 
92.7
%
 
29,610

 
10.99

 
3.0
%
 
3.6
%
 
3.1
%
 
 
14

Massachusetts
 
11

 
1,877,239

 
93.0
%
 
95.3
%
 
21,531

 
15.30

 
2.2
%
 
2.2
%
 
2.3
%
 
 
15

Kentucky
 
11

 
2,402,339

 
94.7
%
 
95.2
%
 
20,383

 
9.66

 
2.2
%
 
2.9
%
 
2.2
%
 
 
16

Colorado
 
6

 
1,473,132

 
85.6
%
 
87.2
%
 
18,186

 
14.23

 
1.2
%
 
1.8
%
 
1.9
%
 
 
17

Indiana
 
12

 
1,870,679

 
82.7
%
 
88.5
%
 
15,726

 
10.81

 
2.4
%
 
2.2
%
 
1.7
%
 
 
18

Minnesota
 
10

 
1,471,123

 
86.0
%
 
86.9
%
 
15,534

 
12.97

 
2.0
%
 
1.7
%
 
1.6
%
 
 
19

Virginia
 
11

 
1,447,531

 
91.5
%
 
92.3
%
 
15,259

 
12.00

 
2.2
%
 
1.7
%
 
1.6
%
 
 
20

South Carolina
 
8

 
1,368,161

 
86.8
%
 
87.2
%
 
14,061

 
12.04

 
1.6
%
 
1.6
%
 
1.5
%
 
 
21

New Hampshire
 
5

 
772,770

 
87.5
%
 
90.2
%
 
7,745

 
13.84

 
1.0
%
 
0.9
%
 
0.8
%
 
 
22

Wisconsin
 
4

 
710,327

 
90.1
%
 
90.3
%
 
6,553

 
10.66

 
0.8
%
 
0.8
%
 
0.7
%
 
 
23

Missouri
 
6

 
867,457

 
85.4
%
 
89.0
%
 
6,547

 
8.66

 
1.2
%
 
1.0
%
 
0.7
%
 
 
24

Maryland
 
4

 
468,667

 
97.9
%
 
98.3
%
 
6,476

 
14.06

 
0.8
%
 
0.6
%
 
0.7
%
 
 
25

Alabama
 
4

 
984,573

 
65.5
%
 
65.5
%
 
5,677

 
8.92

 
0.8
%
 
1.2
%
 
0.6
%
 
 
26

Iowa
 
4

 
723,408

 
91.3
%
 
94.6
%
 
4,380

 
6.49

 
0.8
%
 
0.9
%
 
0.5
%
 
 
27

Louisiana
 
4

 
617,250

 
93.4
%
 
94.2
%
 
3,870

 
6.79

 
0.8
%
 
0.7
%
 
0.4
%
 
 
28

Nevada
 
1

 
278,411

 
100.0
%
 
100.0
%
 
3,267

 
11.88

 
0.2
%
 
0.3
%
 
0.3
%
 
 
29

Arizona
 
2

 
288,110

 
91.1
%
 
92.1
%
 
3,199

 
12.06

 
0.4
%
 
0.3
%
 
0.3
%
 
 
30

Kansas
 
2

 
370,239

 
92.2
%
 
93.2
%
 
3,165

 
11.81

 
0.4
%
 
0.4
%
 
0.3
%
 
 
31

Mississippi
 
2

 
333,275

 
88.6
%
 
88.6
%
 
3,075

 
10.91

 
0.4
%
 
0.4
%
 
0.3
%
 
 
32

Delaware
 
1

 
191,974

 
98.3
%
 
98.3
%
 
2,238

 
11.86

 
0.2
%
 
0.2
%
 
0.2
%
 
 
33

West Virginia
 
2

 
251,500

 
98.0
%
 
98.0
%
 
2,086

 
8.46

 
0.4
%
 
0.3
%
 
0.2
%
 
 
34

Vermont
 
1

 
224,514

 
98.6
%
 
98.6
%
 
1,971

 
8.91

 
0.2
%
 
0.3
%
 
0.2
%
 
 
35

Maine
 
1

 
287,513

 
90.0
%
 
90.0
%
 
1,868

 
20.65

 
0.2
%
 
0.3
%
 
0.2
%
 
 
36

Oklahoma
 
1

 
186,851

 
100.0
%
 
100.0
%
 
1,837

 
9.83

 
0.2
%
 
0.2
%
 
0.2
%
 
 
37

Rhode Island
 
1

 
148,126

 
80.8
%
 
83.8
%
 
1,361

 
10.96

 
0.2
%
 
0.2
%
 
0.1
%
 
 
38

New Mexico
 
2

 
83,800

 
100.0
%
 
100.0
%
 
966

 
11.53

 
0.4
%
 
0.1
%
 
0.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL
 
498

 
84,091,870

 
89.6
%
 
91.6
%
 
$
945,721

 
$
13.28

 
100.0
%
 
100.0
%
 
100.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2017
Page 38
jpgstandardlogoa21.jpg




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

 
Winchester Plaza
 
Huntsville
 
AL
 
Huntsville, AL
 
2006
 
75,780

 
96.2
%
 
$
964

 
$
13.23

 
Publix
 
 
 
2

 
Springdale
 
Mobile
 
AL
 
Mobile, AL
 
2004
 
606,731

 
46.7
%
 
2,355

 
8.56

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

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

 
98.2
%
 
1,561

 
6.86

 
Walmart Supercenter
 
Burke's Outlet
 
 
4

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

 
87.0
%
 
797

 
13.04

 
Publix
 
 
 
5

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

 
85.5
%
 
1,306

 
12.78

 
 
Gymnasium Academy, LA Fitness, Sears Outlet
 
 
6

 
Northmall Centre
 
Tucson
 
AZ
 
Tucson, AZ
 
1996
 
168,585

 
96.8
%
 
1,893

 
11.60

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

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

 
100.0
%
 
2,399

 
16.26

 
SuperTarget*, Walmart Supercenter*
 
Marshalls, Petco
 
 
8

 
Bakersfield Plaza
 
Bakersfield
 
CA
 
Bakersfield, CA
 
1970
 
240,328

 
90.7
%
 
3,301

 
15.43

 
Lassens Natural Foods & Vitamins
 
AMC Theatres, Burlington Stores, In Shape Fitness, Ross Dress for Less
 
Hobby Lobby
9

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

 
89.8
%
 
2,040

 
18.66

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

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

 
93.7
%
 
1,133

 
17.88

 
Stater Bros.
 
 
 
11

 
Clovis Commons
 
Clovis
 
CA
 
Fresno, CA
 
2004
 
180,955

 
96.3
%
 
3,801

 
22.58

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

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

 
98.0
%
 
1,378

 
9.52

 
 
Big Lots, Kmart
 
 
13

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

 
92.8
%
 
1,890

 
19.63

 
Trader Joe's
 
Forever 21, World Market
 
 
14

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

 
100.0
%
 
1,435

 
14.56

 
Vons (Albertsons)
 
Chuze Fitness
 
 
15

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

 
99.0
%
 
2,751

 
21.96

 
Major Market, Trader Joe's
 
Rite Aid
 
 
16

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

 
97.7
%
 
3,768

 
14.76

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

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

 
100.0
%
 
1,971

 
11.83

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

 
Briggsmore Plaza
 
Modesto
 
CA
 
Modesto, CA
 
1998
 
92,315

 
100.0
%
 
1,200

 
13.76

 
Grocery Outlet
 
Fallas Paredes, Sears Outlet
 
In Shap Fitness
19

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

 
99.0
%
 
5,101

 
18.62

 
Albertsons
 
Best Buy, CVS, Kohl's, Five Below, Ross Dress for Less
 
 
20

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

 
97.5
%
 
2,006

 
17.06

 
Barons Market
 
Crunch Fitness, Dollar Tree
 
 
21

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

 
100.0
%
 
7,087

 
20.04

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

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

 
100.0
%
 
2,162

 
10.66

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

 
Paradise Plaza
 
Paradise
 
CA
 
Chico, CA
 
1997
 
198,323

 
96.9
%
 
931

 
7.87

 
Save Mart
 
Kmart
 
 
24

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

 
98.3
%
 
2,653

 
33.55

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

 
Rose Pavilion (2)
 
Pleasanton
 
CA
 
San Francisco-Oakland-Hayward, CA
 
2017
 
329,003

 
93.8
%
 
6,940

 
22.53

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

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

 
99.4
%
 
5,818

 
22.63

 
 
Marshalls, Michaels
 
 
27

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

 
100.0
%
 
1,079

 
7.54

 
 
Big Lots, Target
 
 
28

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

 
96.3
%
 
4,638

 
28.34

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

 
Village at Mira Mesa (2)
 
San Diego
 
CA
 
San Diego-Carlsbad, CA
 
2017
 
408,800

 
92.6
%
 
8,337

 
22.98

 
Sprouts Farmers Market, Vons (Albertsons)
 
Bed Bath & Beyond, BevMo, Marshalls, Mira Mesa Lanes
 
 
30

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

 
100.0
%
 
3,711

 
22.52

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

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

 
100.0
%
 
2,915

 
26.70

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

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

 
91.9
%
 
3,051

 
24.37

 
El Super, Walmart Supercenter
 
LA Fitness
 
Target
33

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

 
100.0
%
 
2,065

 
11.03

 
Vons (Albertsons)
 
Ace Hardware, Big Lots
 
 
34

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

 
96.3
%
 
3,069

 
21.32

 
Stater Bros.
 
Rite Aid, Stein Mart
 
 
35

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

 
100.0
%
 
1,032

 
18.20

 
Ralphs (Kroger)
 
 
 
36

 
Gateway Plaza - Vallejo (2)
 
Vallejo
 
CA
 
Vallejo-Fairfield, CA
 
2017
 
525,115

 
94.2
%
 
8,846

 
18.12

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

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

 
100.0
%
 
739

 
7.76

 
King Soopers (Kroger)
 
Arc
 
 
38

 
Arapahoe Crossings
 
Aurora
 
CO
 
Denver-Aurora-Lakewood, CO
 
1996
 
468,556

 
86.1
%
 
6,161

 
15.28

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

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

 
100.0
%
 
1,689

 
9.80

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

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

 
92.4
%
 
1,654

 
14.78

 
 
Chuze Fitness
 
 
41

 
Superior Marketplace
 
Superior
 
CO
 
Boulder, CO
 
1997
 
279,189

 
80.5
%
 
3,783

 
16.83

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

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

 
81.9
%
 
4,160

 
15.37

 
 
Babies"R"Us, Barnes & Noble, David's Bridal, Jo-Ann Fabric & Craft Stores, Ross Dress for Less, Tile Shop, Ulta
 
 
43

 
Freshwater - Stateline Plaza
 
Enfield
 
CT
 
Hartford-West Hartford-East Hartford, CT
 
2004
 
299,978

 
96.6
%
 
2,608

 
17.03

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

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

 
94.1
%
 
2,470

 
24.69

 
Whole Foods Market
 
Petco
 
 
45

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

 
96.8
%
 
2,478

 
13.01

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

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

 
100.0
%
 
1,027

 
14.19

 
PriceRite (Wakefern)
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2017
Page 39
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PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Non-Owned Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
47

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

 
96.5
%
 
4,579

 
13.96

 
Sam's Club*, Walmart Supercenter*
 
A.C. Moore, Ashley Furniture, Babies"R"Us, Bed Bath & Beyond, Big Bob's Flooring Outlet, Cost Plus World Market, DSW, Edge Fitness, Hobby Lobby, Men's Wearhouse, Plaza Azteca
 
Best Buy, The Home Depot, Walmart
48

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

 
100.0
%
 
592

 
10.90

 
 
Dollar Tree, Savers
 
 
49

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

 
0.0
%
 

 

 
 
 
 
50

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

 
97.1
%
 
2,439

 
16.75

 
Market 32
 
Dick's Sporting Goods
 
 
51

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

 
96.1
%
 
1,778

 
17.81

 
 
Barnes & Noble, Dollar Tree, DSW, Five Below, Lumber Liquidators, PetSmart
 
 
52

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

 
94.1
%
 
1,644

 
13.16

 
 
A.C. Moore, Christmas Tree Shops
 
 
53

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

 
88.0
%
 
2,479

 
17.50

 
 
LA Fitness, Marshalls
 
 
54

 
Torrington Plaza
 
Torrington
 
CT
 
Torrington, CT
 
1994
 
125,496

 
85.2
%
 
1,207

 
11.29

 
 
Jo-Ann Fabric & Craft Stores, Staples, T.J.Maxx
 
 
55

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

 
94.4
%
 
2,248

 
13.01

 
Super Stop & Shop (Ahold)
 
Dollar Tree
 
Target
56

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

 
96.2
%
 
4,348

 
19.10

 
 
Babies"R"Us, Dick’s Sporting Goods, DSW, Michaels, Party City, Ulta
 
Best Buy, Raymour & Flanigan
57

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

 
98.3
%
 
2,238

 
11.86

 
Acme (Albertsons)
 
Party City, Staples, T.J.Maxx, Toys"R"Us
 
 
58

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

 
94.1
%
 
1,621

 
11.02

 
Publix
 
 
 
59

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

 
92.3
%
 
3,455

 
17.56

 
 
Bed Bath & Beyond, Belk, Marshalls, Michaels, Office Depot, Petco, Sears, Ulta
 
 
60

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

 
98.6
%
 
993

 
13.36

 
Publix
 
 
Target
61

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

 
84.9
%
 
5,655

 
22.47

 
Costco*, SuperTarget*
 
David's Bridal, Michaels, PetSmart, Ross Dress for Less
 
Lowe's
62

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

 
87.4
%
 
3,245

 
13.98

 
Publix
 
Bealls Outlet, Big Lots, Off the Wall Trampoline, Planet Fitness
 
 
63

 
Century Plaza Shopping Center
 
Deerfield Beach
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
2006
 
85,783

 
90.8
%
 
1,501

 
19.27

 
 
Broward County Library, CVS
 
 
64

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

 
97.9
%
 
1,321

 
7.24

 
Publix
 
Planet Fitness
 
 
65

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

 
97.7
%
 
810

 
15.10

 
Publix
 
 
 
66

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

 
99.1
%
 
1,694

 
10.81

 
Publix
 
Bealls Outlet, Books-A-Million, Office Depot, T.J.Maxx
 
 
67

 
Normandy Square
 
Jacksonville
 
FL
 
Jacksonville, FL
 
1996
 
89,822

 
100.0
%
 
838

 
9.61

 
Winn-Dixie (Southeastern Grocers)
 
Ace Hardware, Family Dollar
 
 
68

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

 
72.6
%
 
1,731

 
7.14

 
 
American Signature Furniture, Bealls Outlet, Books-A-Million, David's Bridal, Ollie's Bargain Outlet
 
 
69

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

 
100.0
%
 
1,971

 
18.06

 
 
Best Buy, David's Bridal, Restoration Hardware
 
 
70

 
Ventura Downs (2)
 
Kissimmee
 
FL
 
Orlando-Kissimmee-Sanford, FL
 
2017
 
98,191

 
95.1
%
 
1,212

 
12.98

 
 
LA Fitness
 
 
71

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

 
97.8
%
 
2,276

 
17.43

 
Walmart Neighborhood Market
 
Walgreens
 
 
72

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

 
93.8
%
 
1,912

 
11.52

 
Publix
 
Dollar Tree, Petco, Staples, Tuesday Morning, T.J.Maxx
 
 
73

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

 
77.4
%
 
1,750

 
20.57

 
Publix
 
 
 
74

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

 
70.5
%
 
3,396

 
17.90

 
Walmart Supercenter*
 
Citi Trends, Marshalls, Ross Dress for Less
 
 
75

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

 
98.8
%
 
2,660

 
11.01

 
Fresco y Más (Southeastern Grocers)
 
Ross Dress for Less
 
 
76

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

 
100.0
%
 
2,060

 
9.72

 
Publix
 
 
 
77

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

 
100.0
%
 
3,548

 
17.89

 
Publix
 
Marshalls, Office Depot, PGA TOUR Superstore
 
 
78

 
Park Shore Plaza (2)
 
Naples
 
FL
 
Naples-Immokalee-Marco Island, FL
 
2017
 
250,548

 
96.9
%
 
4,360

 
18.36

 
The Fresh Market
 
Big Lots, Burlington Stores, HomeGoods, Kirkland's, Party City, Saks OFF Fifth
 
 
79

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

 
96.8
%
 
974

 
12.40

 
Publix
 
Zone Fitness Club
 
 
80

 
Southgate Center
 
New Port Richey
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
1966
 
250,256

 
96.8
%
 
2,453

 
10.72

 
Publix
 
Bealls Outlet, Big Lots, Lumber Liquidators, Old Time Pottery, Pet Supermarket, YouFit Health Club
 
 
81

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

 
90.4
%
 
852

 
10.66

 
Sedano's
 
Family Dollar
 
 
82

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

 
46.5
%
 
378

 
32.87

 
 
Miller's Orange Park Ale House
 
 
83

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

 
99.4
%
 
2,392

 
17.06

 
 
Burlington Stores, LA Fitness
 
Target
84

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

 
98.7
%
 
988

 
13.12

 
Publix
 
 
 
85

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

 
89.8
%
 
998

 
15.18

 
Lucky's Market
 
Office Depot
 
 
86

 
Pointe Orlando
 
Orlando
 
FL
 
Orlando-Kissimmee-Sanford, FL
 
1997
 
419,444

 
91.3
%
 
8,693

 
23.44

 
 
Main Event, Regal Cinemas
 
 
87

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

 
95.7
%
 
748

 
12.11

 
Publix
 
 
 
88

 
Martin Downs Village Center
 
Palm City
 
FL
 
Port St. Lucie, FL
 
1987
 
162,336

 
91.8
%
 
2,666

 
18.41

 
 
Coastal Care, Walgreens
 
 
89

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

 
96.6
%
 
1,239

 
12.98

 
Publix
 
 
 
90

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

 
100.0
%
 
2,444

 
8.18

 
Walmart Supercenter
 
Big Lots, Harbor Freight Tools, HomeGoods, T.J.Maxx
 
 
91

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

 
84.7
%
 
1,148

 
9.50

 
 
Bealls Outlet, Big Lots, Petland, Sears Home Appliance Showroom
 
Hobby Lobby
92

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

 
83.6
%
 
1,894

 
13.91

 
Publix
 
Fortis Institute, Walgreens
 
 
93

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

 
94.5
%
 
1,153

 
12.81

 
Winn-Dixie (Southeastern Grocers)
 
Dollar Tree
 
 

Supplemental Disclosure - Three Months Ended September 30, 2017
Page 40
jpgstandardlogoa21.jpg




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Non-Owned Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
94

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

 
95.7
%
 
633

 
10.84

 
Winn-Dixie (Southeastern Grocers)
 
 
 
95

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

 
87.5
%
 
658

 
19.07

 
SuperTarget*
 
The Zoo Health Club
 
 
96

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

 
96.6
%
 
1,808

 
13.22

 
Publix
 
Harbor Freight Tools, Pet Supermarket, Walgreens
 
 
97

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

 
100.0
%
 
2,046

 
12.11

 
Publix
 
Big Lots, Crunch Fitness, HomeGoods
 
 
98

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

 
73.2
%
 
1,262

 
13.18

 
Publix
 
 
 
99

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

 
96.5
%
 
1,246

 
8.25

 
 
Bealls Outlet, Burlington Stores, T.J.Maxx
 
 
100

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

 
96.2
%
 
3,568

 
13.98

 
Publix
 
Bealls, Bed Bath & Beyond, Michaels, Party City, Petco
 
 
101

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

 
80.4
%
 
1,611

 
14.93

 
Publix
 
CVS, Dollar Tree
 
 
102

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

 
98.3
%
 
1,606

 
17.06

 
Publix
 
Bealls Outlet, Pet Supermarket
 
 
103

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

 
95.9
%
 
1,267

 
8.83

 
Winn-Dixie (Southeastern Grocers)
 
Bealls Outlet, Big Lots
 
 
104

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

 
78.3
%
 
734

 
8.46

 
 
Dollar Tree
 
 
105

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

 
79.1
%
 
1,614

 
9.75

 
Winn-Dixie (Southeastern Grocers)
 
Big Lots, Chuck E. Cheese’s
 
 
106

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

 
65.9
%
 
1,242

 
12.46

 
Publix
 
Family Dollar, Flooring USA
 
 
107

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

 
100.0
%
 
1,366

 
12.41

 
Patel Brothers
 
Dollar Tree, LA Fitness
 
Walmart
108

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

 
96.0
%
 
1,473

 
16.50

 
Publix
 
Rarehues
 
 
109

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

 
95.9
%
 
1,271

 
14.63

 
 
Deal$, Ross Dress for Less, Lumber Liquidators
 
 
110

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

 
97.6
%
 
2,191

 
15.39

 
Publix
 
Petco, T.J.Maxx, Ulta
 
 
111

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

 
97.5
%
 
924

 
7.16

 
Winn-Dixie (Southeastern Grocers)
 
Lumber Liquidators, Pet Supermarket, T.J.Maxx
 
 
112

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

 
91.5
%
 
655

 
6.52

 
Publix
 
Bealls Outlet
 
 
113

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

 
98.8
%
 
1,186

 
17.48

 
Publix
 
 
 
114

 
Albany Plaza
 
Albany
 
GA
 
Albany, GA
 
1995
 
114,169

 
75.1
%
 
571

 
6.66

 
Harveys (Southeastern Grocers)
 
Big Lots, OK Beauty & Fashions Outlet
 
 
115

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

 
98.2
%
 
5,257

 
20.14

 
 
AMC Theatres, Barnes & Noble, DSW, Macy's Furniture Gallery, REI, T.J.Maxx, Ulta
 
Toys"R"Us
116

 
Perlis Plaza
 
Americus
 
GA
 
Americus, GA
 
1972
 
165,315

 
83.6
%
 
824

 
5.96

 
 
Belk, Roses
 
 
117

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

 
86.8
%
 
4,328

 
11.45

 
City Farmers Market
 
dd's Discounts (Ross)
 
 
118

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

 
68.3
%
 
1,090

 
7.68

 
 
Dollar Tree
 
 
119

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

 
100.0
%
 
537

 
8.11

 
Food Depot
 
Family Dollar
 
 
120

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

 
95.6
%
 
1,080

 
14.30

 
Publix
 
 
 
121

 
Cedar Plaza
 
Cedartown
 
GA
 
Cedartown, GA
 
1994
 
83,300

 
76.5
%
 
550

 
8.63

 
Kroger
 
 
 
122

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

 
94.0
%
 
2,039

 
12.66

 
Walmart Supercenter*
 
Jo-Ann Fabric & Craft Stores, Mattress Firm, PetSmart, Value Village
 
The Home Depot
123

 
Cordele Square
 
Cordele
 
GA
 
Cordele, GA
 
2002
 
127,953

 
82.6
%
 
694

 
6.56

 
Harveys (Southeastern Grocers)
 
Belk, Citi Trends, Cordele Theatres
 
 
124

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

 
94.3
%
 
1,096

 
6.65

 
Ingles
 
Kmart
 
 
125

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

 
96.1
%
 
762

 
11.78

 
Publix
 
 
 
126

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

 
79.9
%
 
995

 
13.12

 
Kroger
 
 
 
127

 
Northside
 
Dalton
 
GA
 
Dalton, GA
 
2001
 
73,931

 
97.3
%
 
602

 
8.37

 
Food City
 
Family Dollar
 
 
128

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

 
92.0
%
 
811

 
11.32

 
Publix
 
 
 
129

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

 
89.7
%
 
724

 
17.37

 
Kroger*
 
 
 
130

 
Dublin Village
 
Dublin
 
GA
 
Dublin, GA
 
2005
 
94,920

 
97.5
%
 
714

 
7.72

 
Kroger
 
 
 
131

 
Westgate
 
Dublin
 
GA
 
Dublin, GA
 
2004
 
110,738

 
96.0
%
 
681

 
6.64

 
Harveys (Southeastern Grocers)
 
Bealls Outlet, Big Lots
 
The Home Depot
132

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

 
100.0
%
 
1,564

 
10.08

 
 
American Signature Furniture, Ollie's Bargain Outlet, Studio Movie Grill
 
 
133

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

 
77.7
%
 
1,008

 
8.63

 
Food Depot
 
Cinemark, Staples
 
 
134

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

 
100.0
%
 
2,385

 
10.90

 
ALDI
 
Best Buy, Michaels, OfficeMax, PetSmart, The Furniture Mall
 
 
135

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

 
100.0
%
 
1,356

 
13.97

 
Publix
 
 
 
136

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

 
86.6
%
 
1,222

 
13.33

 
Publix
 
 
 
137

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

 
89.5
%
 
1,080

 
5.05

 
 
Dollar Tree, Kmart, Ollie's Bargain Outlet, Planet Fitness
 
 
138

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

 
100.0
%
 
565

 
10.28

 
 
Marshalls
 
 
139

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

 
86.8
%
 
987

 
10.06

 
Kroger
 
 
 
140

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

 
89.0
%
 
1,781

 
12.97

 
Kroger
 
J. Christopher's
 
 
141

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

 
91.0
%
 
545

 
8.59

 
Food Depot
 
 
 
142

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

 
70.3
%
 
233

 
19.73

 
Walmart Supercenter*
 
 
 
143

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

 
97.4
%
 
1,034

 
10.07

 
 
PGA TOUR Superstore
 
 
144

 
Victory Square
 
Savannah
 
GA
 
Savannah, GA
 
2007
 
122,719

 
91.5
%
 
1,658

 
15.14

 
SuperTarget*
 
Citi Trends, Dollar Tree, Frank Theatres, Staples
 
The Home Depot
145

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

 
97.2
%
 
2,853

 
15.61

 
Kroger
 
 
 
146

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

 
98.3
%
 
1,767

 
5.18

 
Walmart Supercenter
 
Hobby Lobby, NCG Cinemas
 
 

Supplemental Disclosure - Three Months Ended September 30, 2017
Page 41
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PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Non-Owned Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
147

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

 
92.0
%
 
964

 
10.32

 
Kroger
 
 
 
148

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

 
90.1
%
 
644

 
6.29

 
Hy-Vee
 
 
 
149

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

 
98.0
%
 
1,484

 
6.35

 
 
Burlington Stores, Harbor Freight Tools, Hobby Lobby
 
 
150

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

 
94.0
%
 
1,503

 
5.93

 
Price Chopper
 
Aspen Athletic Clubs, Big Lots, Northern Tool + Equipment, Office Depot
 
 
151

 
Warren Plaza
 
Dubuque
 
IA
 
Dubuque, IA
 
1993
 
96,310

 
93.4
%
 
749

 
8.81

 
Hy-Vee
 
 
Target
152

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

 
82.3
%
 
3,063

 
18.67

 
Trader Joe's
 
Binny's Beverage Depot, Chuck E. Cheese's, Kirkland's, Petco, Ulta
 
 
153

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

 
96.1
%
 
2,137

 
14.67

 
 
Savers, XSport Fitness
 
Kohl's
154

 
Bartonville Square
 
Bartonville
 
IL
 
Peoria, IL
 
2001
 
61,678

 
88.3
%
 
280

 
5.48

 
Kroger
 
 
 
155

 
Festival Center
 
Bradley
 
IL
 
Kankakee, IL
 
2006
 
63,796

 
100.0
%
 
437

 
6.85

 
 
Big Lots, Dollar General
 
 
156

 
Southfield Plaza
 
Bridgeview
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2006
 
198,298

 
91.1
%
 
1,972

 
10.92

 
Shop & Save Market
 
Hobby Lobby, Walgreens
 
 
157

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

 
93.1
%
 
4,198

 
14.98

 
 
Marshalls, The Home Depot, Ross Dress for Less, XSport Fitness
 
 
158

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

 
76.9
%
 
5,656

 
14.85

 
 
AMC, Best Buy, Five Below, Party City, PetSmart, Ross Dress for Less, T.J.Maxx
 
 
159

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

 
85.8
%
 
2,274

 
9.71

 
Jewel-Osco (Albertsons)
 
Burlington Stores
 
Hobby Lobby
160

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

 
88.5
%
 
1,898

 
16.28

 
 
Walgreens
 
 
161

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

 
89.5
%
 
1,874

 
8.62

 
Ruler Foods (Kroger)
 
Big Lots, Plato's Closet, Sky Zone, T.J.Maxx
 
 
162

 
Freeport Plaza
 
Freeport
 
IL
 
Freeport, IL
 
2000
 
87,846

 
88.3
%
 
503

 
6.49

 
Cub Foods (Supervalu)
 
 
 
163

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

 
88.9
%
 
2,662

 
9.51

 
Tony's Finer Foods
 
Big Lots, LA Fitness, Sears Outlet
 
Value City
164

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

 
88.6
%
 
2,433

 
16.00

 
 
Best Buy, PetSmart, Stein Mart
 
 
165

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

 
97.2
%
 
1,602

 
15.46

 
Sunset Foods
 
 
 
166

 
High Point Centre (2)
 
Lombard
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2017
 
240,097

 
70.2
%
 
1,874

 
11.12

 
 
David's Bridal, Jo-Ann Fabric & Craft Stores, LA Fitness, Office Depot
 
 
167

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

 
93.8
%
 
1,675

 
15.92

 
Jewel-Osco
 
Planet Fitness
 
 
168

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

 
79.1
%
 
7,420

 
14.31

 
 
Art Van Furniture, Big Lots, buybuy BABY, Marshalls, Old Navy, Party City, Star Cinema Grill, Turk Furniture, Ulta
 
 
169

 
Sterling Bazaar
 
Peoria
 
IL
 
Peoria, IL
 
1992
 
87,359

 
93.9
%
 
781

 
9.74

 
Kroger
 
 
 
170

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

 
96.3
%
 
1,985

 
17.56

 
 
LA Fitness, Regal Cinemas
 
 
171

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

 
97.6
%
 
750

 
6.72

 
Hy-Vee
 
Eye Surgeons Associates
 
 
172

 
Parkway Pointe
 
Springfield
IL
 
Springfield, IL
 
1994
 
38,737

 
62.7
%
 
460

 
18.94

 
ALDI*
 
Shoe Carnival
 
Target, Walmart
173

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

 
94.9
%
 
1,336

 
10.07

 
Schnucks
 
U.S. Post Office
 
 
174

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

 
67.4
%
 
1,997

 
11.95

 
Walt's Fine Foods
 
Planet Fitness, Tile Shop
 
 
175

 
Meridian Village
 
Carmel
 
IN
 
Indianapolis-Carmel-Anderson, IN
 
1990
 
123,169

 
82.9
%
 
885

 
8.66

 
 
Dollar Tree, Godby Home Furnishings, Ollie's Bargain Outlet
 
 
176

 
Columbus Center
 
Columbus
 
IN
 
Columbus, IN
 
1964
 
143,043

 
93.0
%
 
1,500

 
11.28

 
 
Big Lots, OfficeMax, T.J.Maxx, ULTA
 
Target
177

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

 
85.8
%
 
527

 
37.19

 
Martin's Super Market
 
CVS
 
 
178

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

 
91.2
%
 
1,871

 
17.44

 
Walmart Supercenter*
 
Best Buy, Dick's Sporting Goods, PetSmart
 
Kohl's
179

 
Market Centre
 
Goshen
 
IN
 
Elkhart-Goshen, IN
 
1994
 
247,668

 
86.5
%
 
1,672

 
15.97

 
Sam's Club, Walmart Supercenter*
 
 
 
180

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

 
84.1
%
 
774

 
8.59

 
Kroger
 
 
 
181

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

 
100.0
%
 
658

 
9.19

 
Save-A-Lot
 
Citi Trends
 
 
182

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

 
90.0
%
 
374

 
13.87

 
Walmart Supercenter*
 
Aaron's
 
 
183

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

 
91.3
%
 
745

 
8.89

 
Martin's Super Market
 
 
 
184

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

 
71.5
%
 
565

 
7.62

 
Kroger
 
Go Workout
 
 
185

 
Speedway Super Center (2)
 
Speedway
 
IN
 
Indianapolis-Carmel-Anderson, IN
 
2017
 
586,107

 
88.8
%
 
4,903

 
9.47

 
Kroger
 
Burlington Stores, Kohl's, Oak Street Health Center, Petco, Ross Dress for Less, Sears Outlet, T.J.Maxx
 
 
186

 
Sagamore Park Centre (2)
 
West Lafayette
 
IN
 
Lafayette-West Lafayette, IN
 
2017
 
134,139

 
98.2
%
 
1,252

 
9.66

 
Pay Less (Kroger)
 
 
 
187

 
Westchester Square
 
Lenexa
 
KS
 
Kansas City, MO-KS
 
1987
 
154,978

 
91.3
%
 
1,352

 
9.56

 
Hy-Vee
 
 
 
188

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

 
94.6
%
 
1,813

 
14.32

 
Dillons (Kroger)
 
Bellus Academy, Jo-Ann Fabric & Craft Stores, Marshalls
 
 
189

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

 
100.0
%
 
1,052

 
8.06

 
 
At Home, Staples
 
 
190

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

 
89.8
%
 
6,729

 
14.07

 
Kroger
 
Barnes & Noble, Burlington Stores, David's Bridal, Five Below, Harbor Freight Tools, Hobby Lobby, Old Navy, Ollie's Bargain Outlet, Staples, T.J.Maxx
 
 
191

 
Highland Commons
 
Glasgow
 
KY
 
Glasgow, KY
 
1992
 
130,466

 
100.0
%
 
428

 
3.28

 
Food Lion (Delhaize)
 
Kmart
 
 
192

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

 
94.8
%
 
1,791

 
9.56

 
 
King Pin Lanes, Louisville Athletic Club
 
 
193

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

 
100.0
%
 
1,593

 
7.33

 
 
Gabriel Brothers, Walmart
 
 
194

 
London Marketplace
 
London
 
KY
 
London, KY
 
1994
 
169,032

 
99.1
%
 
981

 
6.68

 
Kroger
 
Goody's
 
 
195

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

 
96.9
%
 
1,889

 
11.14

 
Kroger
 
Petco
 
 

Supplemental Disclosure - Three Months Ended September 30, 2017
Page 42
jpgstandardlogoa21.jpg




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Non-Owned Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
196

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

 
83.1
%
 
1,345

 
10.40

 
Kroger
 
Annie's Attic
 
 
197

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

 
100.0
%
 
1,935

 
12.17

 
Kroger Marketplace
 
 
 
198

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

 
100.0
%
 
1,321

 
8.10

 
 
Books-A-Million, Hobby Lobby, Office Depot
 
 
199

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

 
100.0
%
 
1,319

 
6.67

 
 
Kmart
 
 
200

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

 
88.4
%
 
313

 
3.54

 
Super 1 Foods
 
dd's Discounts (Ross)
 
 
201

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

 
99.0
%
 
891

 
6.83

 
Super 1 Foods
 
 
 
202

 
Lagniappe Village
 
New Iberia
 
LA
 
Lafayette, LA
 
2010
 
206,360

 
90.7
%
 
1,637

 
8.98

 
 
Big Lots, Citi Trends, Stage, T.J.Maxx
 
 
203

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

 
97.8
%
 
1,029

 
6.09

 
Super 1 Foods
 
 
 
204

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

 
98.9
%
 
1,035

 
8.02

 
PriceRite (Wakefern)
 
Citi Trends, L&M Bargain, Ocean State Job Lot
 
 
205

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

 
100.0
%
 
2,090

 
27.94

 
 
Golf Galaxy, Pyara Aveda Spa & Salon, Staples
 
Duluth Trading Co.
206

 
Chicopee Marketplace
 
Chicopee
 
MA
 
Springfield, MA
 
2005
 
151,003

 
100.0
%
 
2,783

 
19.09

 
Walmart Supercenter*
 
Marshalls, Party City, Staples
 
 
207

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

 
94.6
%
 
1,509

 
11.90

 
Super Stop & Shop (Ahold)
 
Jo-Ann Fabric & Craft Stores, Ocean State Job Lot
 
 
208

 
WaterTower Plaza
 
Leominster
 
MA
 
Worcester, MA-CT
 
2000
 
284,716

 
98.4
%
 
3,206

 
11.45

 
Shaw's (Albertsons)
 
Barnes & Noble, Michaels, Party City, Petco, Staples, T.J.Maxx
 
 
209

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

 
66.7
%
 
266

 
15.63

 
Hannaford Bros. (Delhaize)*
 
 
Walmart
210

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

 
100.0
%
 
1,267

 
16.23

 
Shaw's (Albertsons)
 
Rainbow
 
 
211

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

 
98.7
%
 
2,279

 
12.64

 
Star Market (Albertsons)
 
Marshalls, Ocean State Job Lot
 
 
212

 
Berkshire Crossing
 
Pittsfield
 
MA
 
Pittsfield, MA
 
1994
 
442,354

 
96.3
%
 
3,813

 
20.92

 
Market 32
 
Barnes & Noble, Michaels, Staples, The Home Depot, Ulta, Walmart
 
 
213

 
Westgate Plaza
 
Westfield
 
MA
 
Springfield, MA
 
1996
 
103,903

 
98.7
%
 
1,211

 
12.16

 
 
Ocean State Job Lot, Staples, T.J.Maxx
 
 
214

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

 
79.1
%
 
2,072

 
22.15

 
Super Stop & Shop (Ahold)
 
Citi Trends, Fallas Paredes
 
 
215

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

 
100.0
%
 
1,810

 
19.60

 
 
Best Buy, Old Navy, Petco, Ross Dress for Less
 
 
216

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

 
100.0
%
 
754

 
29.54

 
 
 
 
217

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

 
97.8
%
 
3,002

 
10.48

 
Giant Food (Ahold)
 
Jo-Ann Fabric & Craft Stores, Kmart, Peebles
 
 
218

 
Liberty Plaza
 
Randallstown
 
MD
 
Baltimore-Columbia-Towson, MD
 
1962
 
57,954

 
97.1
%
 
910

 
16.17

 
Walmart Supercenter*
 
Marshalls
 
 
219

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

 
90.0
%
 
1,868

 
20.65

 
 
Big Lots, Dollar Tree, Jo-Ann Fabric & Craft Stores, Lowe's
 
 
220

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

 
96.4
%
 
6,255

 
16.31

 
Kroger
 
Bed Bath & Beyond, DSW, Marshalls, Michaels, Nordstrom Rack, Ulta
 
 
221

 
Maple Village (2)
 
Ann Arbor
 
MI
 
Ann Arbor, MI
 
2017
 
287,387

 
82.3
%
 
3,077

 
13.02

 
Plum Market
 
Dunham's Sports, HomeGoods, LA Fitness, Sierra Trading Post, Stein Mart
 
 
222

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

 
100.0
%
 
1,002

 
11.74

 
Busch’s Fresh Food Market
 
Ace Hardware
 
 
223

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

 
100.0
%
 
809

 
10.23

 
 
Dollar Tree, Ollie's Bargain Outlet, True Value
 
 
224

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

 
86.4
%
 
1,792

 
12.90

 
VG's Food (SpartanNash)
 
Dunham's Sports, Glik's
 
 
225

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

 
79.8
%
 
601

 
7.56

 
D&W Fresh Market (SpartanNash)
 
 
 
226

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

 
96.1
%
 
1,522

 
8.51

 
 
Bed Bath & Beyond, DXL Destination XL, Hobby Lobby, Planet Fitness
 
 
227

 
Lakes Crossing
 
Muskegon
 
MI
 
Muskegon, MI
 
2008
 
110,997

 
84.9
%
 
1,440

 
16.71

 
 
Jo-Ann Fabric & Craft Stores, Party City, Shoe Carnival, Ulta
 
Kohl's
228

 
Redford Plaza
 
Redford
 
MI
 
Detroit-Warren-Dearborn, MI
 
1992
 
285,324

 
74.2
%
 
2,230

 
10.71

 
 
Ace Hardware, Burlington Stores, CW Price, Dollar Tree
 
 
229

 
Hampton Village Centre
 
Rochester Hills
 
MI
 
Detroit-Warren-Dearborn, MI
 
2004
 
470,137

 
97.0
%
 
6,037

 
17.31

 
 
Best Buy, DSW, Emagine Theatre, Kohl's, Old Navy, Petco, T.J.Maxx, Ulta
 
Target
230

 
Fashion Corners
 
Saginaw
 
MI
 
Saginaw, MI
 
2004
 
184,735

 
99.4
%
 
1,831

 
9.97

 
 
Bed Bath & Beyond, Best Buy, Dunham's Sports, Guitar Center, Harbor Freight Tools
 
 
231

 
Green Acres (2)
 
Saginaw
 
MI
 
Saginaw, MI
 
2017
 
245,460

 
94.1
%
 
1,571

 
14.28

 
Kroger
 
Planet Fitness, Rite Aid
 
 
232

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

 
79.0
%
 
2,021

 
14.57

 
 
Michaels, Old Navy, Ulta
 
 
233

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

 
100.0
%
 
1,211

 
11.91

 
 
Party City, Planet Fitness
 
Burlington Stores
234

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

 
48.8
%
 
644

 
12.98

 
 
O'Reilly Auto Parts, Planet Fitness
 
 
235

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

 
100.0
%
 
1,020

 
6.59

 
 
Babies"R"Us, Bed Bath & Beyond, Dunham's Mega Sports, Tenpenny Furniture
 
 
236

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

 
100.0
%
 
2,960

 
27.43

 
Walmart Supercenter
 
Books-A-Million, PetSmart, Staples, The Home Depot, Toys"R"Us, Ulta
 
 
237

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

 
67.7
%
 
1,115

 
10.12

 
 
Bed Bath & Beyond, Crunch Fitness, Party City, Petco
 
Burlington Stores, Target
238

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

 
95.9
%
 
1,088

 
12.94

 
Walmart Supercenter
 
Harbor Freight Tools, Ollie's Bargain Outlet
 
 
239

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

 
96.0
%
 
842

 
7.09

 
Save-A-Lot
 
Dollar Tree, Dunham's Sports, Planet Fitness
 
 
240

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

 
97.6
%
 
2,073

 
17.00

 
SuperTarget*
 
Best Buy, Dollar Tree, Walgreens
 
 
241

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

 
65.2
%
 
464

 
8.32

 
ALDI
 
Jo-Ann Fabric & Craft Stores
 
 
242

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

 
97.7
%
 
2,122

 
11.88

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

Supplemental Disclosure - Three Months Ended September 30, 2017
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PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Non-Owned Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
243

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

 
88.7
%
 
1,940

 
10.67

 
Cub Foods (Jerry's Foods)
 
OfficeMax
 
 
244

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

 
93.4
%
 
1,406

 
17.11

 
Cub Foods (Supervalu)*
 
 
 
245

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

 
75.6
%
 
1,994

 
12.35

 
Rainbow Foods (Jerry's Foods)
 
Marshalls, Michaels
 
 
246

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

 
57.2
%
 
652

 
16.39

 
Cub Foods (Jerry's Foods)*
 
Dollar Tree
 
 
247

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

 
95.1
%
 
1,739

 
15.97

 
Fresh Thyme Farmers Market
 
Marshalls
 
 
248

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

 
89.6
%
 
2,441

 
12.52

 
Cub Foods (Supervalu)
 
Planet Fitness, T.J.Maxx, Valu Thrift Store
 
 
249

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

 
98.4
%
 
703

 
9.77

 
Festival Foods
 
Dollar Tree
 
 
250

 
Ellisville Square
 
Ellisville
 
MO
 
St. Louis, MO-IL
 
1989
 
139,087

 
79.7
%
 
1,502

 
13.95

 
 
Michaels, Party City, Petco, Tuesday Morning
 
 
251

 
Clocktower Place
 
Florissant
 
MO
 
St. Louis, MO-IL
 
1987
 
209,832

 
93.7
%
 
1,553

 
8.03

 
ALDI
 
Florissant Furniture & Rug Gallery, K&G Fashion Superstore, Ross Dress for Less
 
 
252

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

 
89.5
%
 
793

 
5.91

 
Price Chopper
 
 
 
253

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

 
91.2
%
 
1,305

 
8.85

 
Price Chopper
 
Ace Hardware
 
 
254

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

 
85.1
%
 
920

 
8.66

 
Price Chopper
 
 
 
255

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

 
93.6
%
 
474

 
7.08

 
Shop 'n Save (Supervalu)
 
 
 
256

 
Clinton Crossing
 
Clinton
 
MS
 
Jackson, MS
 
1990
 
112,148

 
96.5
%
 
1,099

 
10.46

 
Kroger
 
 
 
257

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

 
84.5
%
 
1,976

 
11.17

 
 
Burke's Outlet, Burlington Stores, Conn's, Kirkland's, Tuesday Morning
 
 
258

 
Devonshire Place
 
Cary
 
NC
 
Raleigh, NC
 
1996
 
106,680

 
100.0
%
 
1,591

 
15.24

 
 
Burlington Stores, Dollar Tree, REI
 
 
259

 
McMullen Creek Market
 
Charlotte
 
NC
 
Charlotte-Concord-Gastonia, NC-SC
 
1988
 
278,664

 
86.9
%
 
3,118

 
12.87

 
Walmart Neighborhood Market
 
Burlington Stores, Dollar Tree, Rugged Wearhouse, Staples
 
 
260

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

 
99.1
%
 
1,976

 
8.23

 
Patel Brothers
 
Big Lots, Fallas Paredes, Gabriel Brothers, The Home Depot, Value City Furniture
 
 
261

 
Macon Plaza
 
Franklin
 
NC
 
 
2001
 
92,787

 
94.1
%
 
474

 
10.50

 
BI-LO (Southeastern Grocers)
 
Peebles
 
 
262

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

 
91.9
%
 
2,027

 
11.96

 
Kroger
 
Citi Trends, OfficeMax, PetSmart
 
Target, The Home Depot
263

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

 
84.4
%
 
2,790

 
13.45

 
Walmart Supercenter*
 
Best Buy, Burke's Outlet, Dollar Tree, Michaels, Ross Dress for Less
 
 
264

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

 
99.5
%
 
4,998

 
14.45

 
 
Babies"R"Us, Christmas Tree Shops, Dick's Sporting Goods, Kohl's, Old Navy, PetSmart, Rainbow
 
Ross Dress for Less, Target
265

 
University Commons
 
Greenville
 
NC
 
Greenville, NC
 
1996
 
233,153

 
96.2
%
 
3,028

 
13.50

 
Harris Teeter (Kroger)
 
A.C. Moore, Barnes & Noble, Petco, T.J.Maxx
 
Target
266

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

 
100.0
%
 
1,757

 
9.18

 
 
Academy Sports + Outdoors, Dollar Tree, Fallas Paredes, Harbor Freight Tools, Ollie's Bargain Outlet
 
 
267

 
Kinston Pointe
 
Kinston
 
NC
 
Kinston, NC
 
2001
 
250,580

 
99.5
%
 
1,030

 
4.13

 
Walmart Supercenter
 
Dollar Tree
 
 
268

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

 
48.2
%
 
257

 
5.11

 
 
 
 
269

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

 
93.8
%
 
1,385

 
15.18

 
 
Person County Health & Human Services
 
 
270

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

 
98.7
%
 
3,915

 
11.35

 
Food Lion (Delhaize)
 
Lowe's, Marshalls, Old Navy, PetSmart, Staples, Tinseltown
 
 
271

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

 
82.5
%
 
676

 
10.28

 
Food Lion (Delhaize)
 
Citi Trends, Family Dollar
 
 
272

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

 
99.3
%
 
2,171

 
6.43

 
Walmart Supercenter
 
Big Lots, Burkes Outlet, Tractor Supply
 
 
273

 
Anson Station
 
Wadesboro
 
NC
 
 
1988
 
132,353

 
62.6
%
 
520

 
6.28

 
Food Lion (Delhaize)
 
Peebles, Tractor Supply Co.
 
 
274

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

 
96.4
%
 
1,953

 
14.50

 
 
OfficeMax, PetSmart, Sportsmans Warehouse
 
Target
275

 
University Commons
 
Wilmington
 
NC
 
Wilmington, NC
 
2007
 
235,345

 
100.0
%
 
3,566

 
15.15

 
Lowes Foods
 
A.C. Moore, HomeGoods, T.J.Maxx
 
 
276

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

 
100.0
%
 
1,238

 
14.96

 
Harris Teeter (Kroger)
 
 
 
277

 
Parkway Plaza
 
Winston-Salem
 
NC
 
Winston-Salem, NC
 
2005
 
284,093

 
89.6
%
 
2,889

 
12.11

 
Super Compare Foods
 
Big Lots, Citi Trends, Office Depot
 
 
278

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

 
94.8
%
 
978

 
14.27

 
 
Golf Galaxy, Mattress Firm, OfficeMax
 
 
279

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

 
76.1
%
 
1,536

 
33.41

 
 
Boston Interiors, Walmart
 
 
280

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

 
100.0
%
 
2,036

 
11.39

 
Market Basket (DeMoulas Supermarkets)
 
Burlington Stores, Jo-Ann Fabric & Craft Stores, Marshalls
 
 
281

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

 
100.0
%
 
2,361

 
19.61

 
 
JC Penney, New Hampshire Liquor and Wine Outlet, Petco
 
The Home Depot
282

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

 
76.9
%
 
404

 
5.99

 
 
Jo-Ann Fabric & Craft Stores, NH1 MotorPlex
 
Cardi's Furniture, Ocean State Job Lot
283

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

 
98.0
%
 
1,408

 
9.58

 
Market Basket (DeMoulas Supermarkets)
 
T.J.Maxx
 
 
284

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

 
68.2
%
 
1,090

 
7.03

 
 
Kmart, Planet Fitness
 
 
285

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

 
96.8
%
 
4,313

 
21.97

 
ShopRite
 
Burlington Stores, Planet Fitness, Ross Dress For Less
 
 
286

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

 
100.0
%
 
1,422

 
26.93

 
Acme (Albertsons)
 
 
 
287

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

 
96.4
%
 
2,186

 
9.06

 
 
Kmart, LA Fitness, Staples
 
 
288

 
Hamilton Plaza
 
Hamilton
 
NJ
 
Trenton, NJ
 
1972
 
148,919

 
98.0
%
 
1,069

 
7.33

 
 
Hibachi Grill & Supreme Buffet, Kmart, Planet Fitness
 
 
289

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

 
92.3
%
 
1,561

 
13.29

 
Super Stop & Shop (Ahold)
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2017
Page 44
jpgstandardlogoa21.jpg




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Non-Owned Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
290

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

 
100.0
%
 
3,220

 
16.02

 
Gourmet Glatt Market
 
Dollar Tree
 
 
291

 
Marlton Crossing (2)
 
Marlton
 
NJ
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2017
 
332,671

 
98.7
%
 
5,720

 
17.42

 
Sprouts Farmers Market
 
Burlington Stores, DSW, HomeGoods, Michaels, T.J. Maxx
 
 
292

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

 
88.7
%
 
3,533

 
20.51

 
ShopRite
 
Petco, Rite Aid
 
 
293

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

 
88.5
%
 
1,135

 
30.92

 
ShopRite
 
 
 
294

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

 
95.2
%
 
3,934

 
16.78

 
Bhavani Food Market
 
Marshalls, Modell's Sporting Goods, Pep Boys, Petco, Robert Wood Johnson Fitness
 
 
295

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

 
98.5
%
 
2,968

 
18.88

 
 
Blink Fitness (Equinox), Cinepolis, HomeGoods, Marshalls
 
 
296

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

 
94.4
%
 
1,536

 
11.52

 
ShopRite*
 
Peebles, PetSmart, Planet Fitness
 
 
297

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

 
98.2
%
 
3,315

 
18.84

 
ShopRite
 
Pier 1 Imports, Staples
 
 
298

 
Springfield Place
 
Springfield
 
NJ
 
New York-Newark-Jersey City, NY-NJ-PA
 
1965
 
34,409

 
100.0
%
 
532

 
15.46

 
ShopRite
 
 
 
299

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

 
77.6
%
 
1,290

 
16.89

 
Acme (Albertsons)*
 
Dollar Tree, WOW! Fitness
 
 
300

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

 
92.4
%
 
3,332

 
16.68

 
Walmart Supercenter*
 
Marshalls, Rainbow, Ross Dress for Less, Staples, ULTA
 
 
301

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

 
84.8
%
 
756

 
15.73

 
 
CVS, Dollar Tree
 
 
302

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

 
100.0
%
 
460

 
12.85

 
 
Walgreens
 
 
303

 
Smith's
 
Socorro
 
NM
 
 
1976
 
48,000

 
100.0
%
 
506

 
10.54

 
 
 
 
304

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

 
100.0
%
 
3,267

 
11.88

 
 
Babies"R"Us, Burlington Stores, Kirkland’s, Stein Mart, T.J.Maxx, Tuesday Morning
 
 
305

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

 
94.6
%
 
2,516

 
29.64

 
 
Minado, Stew Leonard's Wines, T.J.Maxx
 
 
306

 
Erie Canal Centre (2)
 
Dewitt
 
NY
 
Syracuse, NY
 
2017
 
116,488

 
100.0
%
 
1,448

 
12.43

 
 
Burlington Stores, Dick's Sporting Goods, Michaels
 
 
307

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

 
100.0
%
 
1,423

 
21.09

 
Acme (Albertsons)
 
True Value
 
 
308

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

 
27.8
%
 
675

 
28.75

 
BJ's Wholesale*, Walmart Supercenter*
 
 
Kohl's
309

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

 
94.3
%
 
1,893

 
25.92

 
Wild by Nature Market*
 
Ace Hardware
 
Rite Aid
310

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

 
96.4
%
 
2,841

 
15.23

 
 
Burlington Stores, Dollar Tree, K&G Fashion Superstore
 
 
311

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

 
100.0
%
 
6,778

 
35.60

 
Best Mart, H-Mart
 
Christmas Tree Shops, Rite Aid, T.J.Maxx
 
 
312

 
Cayuga Mall
 
Ithaca
 
NY
 
Ithaca, NY
 
1969
 
204,830

 
85.0
%
 
1,555

 
8.94

 
 
Big Lots, Jo-Ann Fabric & Craft Stores, Party City, Rite Aid, True Value
 
 
313

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

 
100.0
%
 
1,492

 
20.66

 
Key Food Marketplace
 
T.J.Maxx
 
 
314

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

 
100.0
%
 
584

 
34.35

 
Trader Joe's
 
 
 
315

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

 
57.2
%
 
931

 
26.61

 
 
Advance Auto Parts
 
 
316

 
Shops at Seneca Mall
 
Liverpool
 
NY
 
Syracuse, NY
 
2005
 
230,924

 
66.7
%
 
707

 
4.59

 
 
Big Lots
 
Raymour & Flanigan
317

 
Mamaroneck Centre
 
Mamaroneck
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1976
 
25,192

 
100.0
%
 
863

 
34.26

 
 
CVS
 
 
318

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

 
90.9
%
 
2,754

 
13.57

 
Super Stop & Shop (Ahold)
 
Planet Fitness, Savers
 
 
319

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

 
97.8
%
 
2,150

 
10.79

 
 
Ashley Furniture, Big Lots, Citi Trends, David's Bridal, Hobby Lobby
 
 
320

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

 
100.0
%
 
1,932

 
15.84

 
ShopRite
 
Retro Fitness, Rite Aid, U.S. Post Office
 
 
321

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

 
100.0
%
 
6,542

 
26.01

 
A Matter of Health
 
Barnes & Noble, Lemon Pop, Marshalls, Modell's Sporting Goods, Petco
 
 
322

 
North Ridge Shopping Center
 
New Rochelle
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1971
 
37,170

 
95.6
%
 
1,394

 
39.23

 
 
Harmon Discount
 
 
323

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

 
95.9
%
 
2,471

 
20.94

 
 
Dollar Tree, HomeGoods
 
 
324

 
Port Washington
 
Port Washington
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1968
 
19,600

 
100.0
%
 
112

 
5.71

 
North Shore Farms
 
 
 
325

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

 
100.0
%
 
1,825

 
18.41

 
Best Yet Market
 
CVS, T.J.Maxx
 
 
326

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

 
94.3
%
 
1,103

 
26.50

 
 
HomeGoods, Rite Aid
 
 
327

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

 
85.1
%
 
1,381

 
21.81

 
Market 32
 
Family Dollar
 
 
328

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

 
96.6
%
 
2,976

 
17.54

 
ShopRite
 
A.C. Moore, Blink Fitness (Equinox), Bob's Stores
 
Firestone
329

 
Campus Plaza
 
Vestal
 
NY
 
Binghamton, NY
 
2003
 
160,744

 
99.5
%
 
1,858

 
11.62

 
 
Olum's Furniture & Appliances, Rite Aid, Staples
 
 
330

 
Parkway Plaza
 
Vestal
 
NY
 
Binghamton, NY
 
1995
 
204,954

 
100.0
%
 
2,221

 
10.84

 
PriceRite (Wakefern)
 
Bed Bath & Beyond, Kohl's, PetSmart, Target
 
Target
331

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

 
100.0
%
 
1,485

 
16.08

 
 
HomeGoods, Michaels, Old Navy
 
 
332

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

 
99.4
%
 
4,721

 
16.20

 
Sam's Club*, Walmart Supercenter*
 
A.C. Moore, AMC Cinemas, Barnes & Noble, Dick's Sporting Goods, Dollar Tree, DSW, T.J.Maxx, Ulta
 
 
333

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

 
94.1
%
 
707

 
10.92

 
Hannaford Bros. (Delhaize)
 
Red Robin Gourmet Burger
 
Lowe's
334

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

 
95.7
%
 
2,297

 
27.13

 
H-Mart
 
 
 
335

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

 
96.3
%
 
1,867

 
14.01

 
Giant Eagle
 
 
The Home Depot
336

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

 
93.7
%
 
1,463

 
10.69

 
Giant Eagle, Marc's
 
 
 
337

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

 
94.0
%
 
2,383

 
18.07

 
Kroger
 
Petco, Planet Fitness, Rainbow
 
 
338

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

 
95.0
%
 
1,381

 
8.83

 
Kroger
 
Pet Supplies Plus
 
 
339

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

 
98.5
%
 
3,467

 
13.95

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

Supplemental Disclosure - Three Months Ended September 30, 2017
Page 45
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PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Non-Owned Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
340

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

 
99.6
%
 
3,843

 
12.60

 
 
Bed Bath & Beyond, Michaels, Sears, Staples, T.J.Maxx
 
Target
341

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

 
93.8
%
 
957

 
30.52

 
Kroger
 
 
 
342

 
Crown Point
 
Columbus
 
OH
 
Columbus, OH
 
1980
 
144,931

 
93.1
%
 
1,361

 
10.09

 
Kroger
 
Dollar Tree, Planet Fitness
 
 
343

 
Greentree Shopping Center
 
Columbus
 
OH
 
Columbus, OH
 
2005
 
130,773

 
84.8
%
 
1,154

 
11.22

 
Kroger
 
 
 
344

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

 
88.8
%
 
154

 
9.69

 
Kroger*
 
 
 
345

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

 
98.1
%
 
4,310

 
14.12

 
Health Foods Unlimited
 
Burlington Stores, Christmas Tree Shops, Jo-Ann Fabric & Craft Stores, Party City, Petsmart, Value City Furniture
 
 
346

 
The Vineyards
 
Eastlake
 
OH
 
Cleveland-Elyria, OH
 
1989
 
144,820

 
71.8
%
 
808

 
7.77

 
 
American Freight Furniture & Mattress, Dollar Tree, Harbor Freight Tools, Powerhouse Gym
 
 
347

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

 
96.6
%
 
6,524

 
9.71

 
BJ's Wholesale Club, Giant Eagle, Marc's
 
Aspire Fitness, Burlington Stores, Cleveland Furniture Bank, Jo-Ann Fabric & Craft Stores, Marshalls, Party City
 
 
348

 
The Shoppes at North Olmsted
 
North Olmsted
 
OH
 
Cleveland-Elyria, OH
 
2002
 
70,003

 
98.2
%
 
1,119

 
16.28

 
 
Ollie's Bargain Outlet, Sears Outlet
 
 
349

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

 
100.0
%
 
2,259

 
24.86

 
Kroger
 
Marshalls
 
 
350

 
Market Place
 
Piqua
 
OH
 
Dayton, OH
 
1972
 
182,487

 
94.5
%
 
717

 
7.28

 
Kroger
 
Roses
 
 
351

 
Brice Park
 
Reynoldsburg
 
OH
 
Columbus, OH
 
1989
 
158,565

 
83.8
%
 
1,161

 
9.56

 
 
Ashley Furniture, Citi Trends, Michaels
 
 
352

 
Streetsboro Crossing
 
Streetsboro
 
OH
 
Akron, OH
 
2002
 
89,436

 
100.0
%
 
693

 
7.75

 
Giant Eagle
 
 
Lowe's, Target
353

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

 
82.3
%
 
1,575

 
10.26

 
Kroger
 
Aspire Fitness, Big Lots, Harbor Freight Tools
 
 
354

 
Southland Shopping Plaza
 
Toledo
 
OH
 
Toledo, OH
 
1988
 
293,598

 
85.3
%
 
1,581

 
6.31

 
 
Big Lots, Planet Fitness, Shopper's World
 
 
355

 
Wadsworth Crossings
 
Wadsworth
 
OH
 
Cleveland-Elyria, OH
 
2005
 
118,145

 
97.5
%
 
1,871

 
16.68

 
 
Bed Bath & Beyond, OfficeMax, Petco, Planet Fitness
 
Kohl's, Lowe's, Target
356

 
Northgate Plaza
 
Westerville
OH
 
Columbus, OH
 
2008
 
15,219

 
100.0
%
 
248

 
16.30

 
Kroger*
 
 
The Home Depot
357

 
Marketplace
 
Tulsa
 
OK
 
Tulsa, OK
 
1992
 
186,851

 
100.0
%
 
1,837

 
9.83

 
 
Basset Home Furnishings, Conn's, David's Bridal, Drysdales Western Wear, PetSmart
 
Best Buy
358

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

 
98.7
%
 
2,621

 
18.90

 
Giant Food (Ahold)
 
CVS, Dollar Tree
 
 
359

 
Park Hills Plaza
 
Altoona
 
PA
 
Altoona, PA
 
1985
 
278,586

 
79.7
%
 
1,974

 
8.89

 
Weis Markets
 
A.C. Moore, Dunham's Sports, Harbor Freight, Shoe Carnival, Toys"R"Us
 
 
360

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

 
100.0
%
 
770

 
10.94

 
Redner's Warehouse Market
 
 
Premiere Storage
361

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

 
100.0
%
 
1,932

 
10.76

 
Giant Eagle
 
Walmart
 
 
362

 
Bethlehem Square
 
Bethlehem
 
PA
 
Allentown-Bethlehem-Easton, PA-NJ
 
1994
 
389,450

 
100.0
%
 
3,903

 
15.10

 
Giant Food (Ahold)
 
T.J.Maxx, The Home Depot, Walmart
 
 
363

 
Lehigh Shopping Center
 
Bethlehem
 
PA
 
Allentown-Bethlehem-Easton, PA-NJ
 
1955
 
374,858

 
97.6
%
 
3,400

 
11.67

 
Giant Food (Ahold)
 
Big Lots, Citi Trends, Dollar Tree, Gold Gyms, Mega Marshalls, PetSmart, Rite Aid, Staples, Wells Fargo, Wines & Spirits
 
 
364

 
Bristol Park
 
Bristol
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1993
 
283,153

 
93.3
%
 
2,357

 
8.92

 
Walmart Supercenter
 
Ollie's Bargain Outlet
 
 
365

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

 
77.7
%
 
435

 
12.15

 
 
 
 
366

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

 
93.8
%
 
2,406

 
17.86

 
Giant Food (Ahold)
 
Tuesday Morning
 
 
367

 
Collegeville Shopping Center (2)
 
Collegeville
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
2017
 
111,210

 
68.5
%
 
1,034

 
13.57

 
Kimberton Whole Foods
 
Pep Boys, Rascal Fitness
 
 
368

 
Whitemarsh Shopping Center
 
Conshohocken
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
2002
 
67,476

 
100.0
%
 
1,547

 
22.93

 
Giant Food (Ahold)
 
Wine & Spirits Shoppe
 
 
369

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

 
100.0
%
 
1,085

 
10.33

 
 
Chuck E. Cheese's, Mealey's Furniture
 
 
370

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

 
91.1
%
 
3,041

 
17.76

 
 
Burlington Stores, Dollar Tree, Party City, PetSmart, T.J.Maxx, The Home Depot
 
 
371

 
Dillsburg Shopping Center
 
Dillsburg
 
PA
 
York-Hanover, PA
 
1994
 
153,088

 
95.2
%
 
1,892

 
13.24

 
Giant Food (Ahold)
 
Dollar Tree, Rite Aid, Tractor Supply Co.
 
 
372

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

 
98.2
%
 
3,317

 
14.21

 
 
Kohl's, Marshalls, Regal Cinemas
 
 
373

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

 
96.9
%
 
1,211

 
16.61

 
 
Dollar Tree, Ross Dress for Less, Tuesday Morning, US Post Office
 
 
374

 
Mount Carmel Plaza
 
Glenside
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1975
 
14,504

 
94.1
%
 
186

 
13.62

 
 
SGS Paper
 
 
375

 
Kline Plaza
 
Harrisburg
 
PA
 
Harrisburg-Carlisle, PA
1952
 
214,628

 
87.9
%
 
1,762

 
9.34

 
Giant Food (Ahold)
 
Citi Trends
 
 
376

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

 
94.9
%
 
1,029

 
7.65

 
 
Big Lots, Ollie's Bargain Outlet
 
 
377

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

 
100.0
%
 
1,324

 
12.40

 
Giant Food (Ahold)
 
 
 
378

 
Woodbourne Square
 
Langhorne
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1984
 
29,821

 
81.6
%
 
524

 
21.55

 
 
 
 
379

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

 
90.7
%
 
936

 
18.98

 
Weis Markets*
 
 
 
380

 
New Holland Shopping Center
 
New Holland
 
PA
 
Lancaster, PA
 
1995
 
65,878

 
100.0
%
 
570

 
8.65

 
Grocery Outlet
 
Family Dollar
 
 
381

 
Village at Newtown
 
Newtown
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1989
 
176,949

 
82.9
%
 
3,822

 
26.05

 
McCaffrey's
 
Pier 1 Imports
 
 
382

 
Cherry Square
 
Northampton
 
PA
 
Allentown-Bethlehem-Easton, PA-NJ
1989
 
75,005

 
96.3
%
 
728

 
10.08

 
Redner's Warehouse Market
 
 
 
383

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

 
98.5
%
 
2,574

 
24.57

 
 
Dollar Tree, Target, Wine & Spirits
 
 
384

 
Roosevelt Mall
 
Philadelphia
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1964
 
561,863

 
96.6
%
 
7,732

 
33.66

 
 
Macy's, Modell's Sporting Goods, Rainbow, Ross Dress For Less
 
 
385

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

 
94.2
%
 
1,278

 
7.68

 
Redner's Warehouse Market
 
French Creek Outfitters, Staples
 
 
386

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

 
100.0
%
 
1,570

 
10.54

 
ALDI
 
Dollar Tree, Planet Fitness, Rite Aid, VF Outlet
 
 
387

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

 
100.0
%
 
415

 
9.95

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

Supplemental Disclosure - Three Months Ended September 30, 2017
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PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Non-Owned Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
388

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

 
100.0
%
 
3,466

 
15.86

 
ShopRite
 
A.C. Moore, Modell's Sporting Goods, Old Navy, Party City, PetSmart, Ross Dress for Less
 
Kohl's
389

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

 
97.6
%
 
706

 
11.41

 
Musser's Markets
 
Hallmark
 
Kmart
390

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

 
93.4
%
 
3,342

 
11.36

 
Redner's Warehouse Market
 
Dollar Tree, Gabriel Brothers, Mealey's Furniture, National Tire & Battery, PetSmart, Ross Dress for Less, Staples
 
 
391

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

 
94.7
%
 
2,060

 
29.99

 
Walmart Supercenter
 
Chuck E Cheese, Cracker Barrel, Party City, Shoe Carnival
 
 
392

 
Hunt River Commons
 
North Kingstown
 
RI
 
Providence-Warwick, RI-MA
1989
 
148,126

 
83.8
%
 
1,361

 
10.96

 
Super Stop & Shop (Ahold)
 
Marshalls, Planet Fitness
 
 
393

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

 
94.7
%
 
2,307

 
14.77

 
Kroger
 
Stein Mart
 
 
394

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

 
100.0
%
 
1,573

 
17.53

 
BI-LO (Southeastern Grocers)
 
 
 
395

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

 
98.2
%
 
826

 
12.88

 
BI-LO (Southeastern Grocers)
 
 
 
396

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

 
100.0
%
 
1,405

 
8.52

 
Food Lion (Delhaize)
 
Dollar Tree, Gold's Gym, Tuesday Morning
 
 
397

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

 
77.9
%
 
2,286

 
9.15

 
 
Gold's Gym, Intercontinental Hotels Group, New Spring Church, Sears Outlet
 
 
398

 
Remount Village Shopping Center
 
North Charleston
 
SC
 
Charleston-North Charleston, SC
1996
 
60,238

 
12.0
%
 
84

 
11.67

 
 
 
 
399

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

 
100.0
%
 
1,993

 
15.21

 
 
Ross Dress for Less, T.J.Maxx
 
Target
400

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

 
88.9
%
 
3,587

 
11.78

 
Publix
 
Marshalls, NCG Cinemas, Office Depot, Petco, Ross Dress for Less, Stein Mart
 
 
401

 
Shoppes at Hickory Hollow
 
Antioch
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
 
1986
 
144,469

 
79.4
%
 
1,270

 
11.07

 
Kroger
 
Citi Trends
 
 
402

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

 
86.1
%
 
550

 
10.84

 
Food Lion (Delhaize)
 
 
 
403

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

 
100.0
%
 
2,754

 
10.49

 
ALDI
 
At Home, Big Lots, Franklin Athletic Club, Trees n Trends
 
 
404

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

 
99.3
%
 
3,388

 
10.29

 
 
Grace Church Nashville, Hard Knocks, Hobby Lobby, Planet Fitness, Skyzone, USA Baby
 
 
405

 
Greensboro Village
 
Gallatin
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
 
2005
 
70,203

 
97.7
%
 
1,004

 
14.63

 
Publix
 
 
 
406

 
Greeneville Commons
 
Greeneville
 
TN
 
Greeneville, TN
 
2002
 
228,618

 
91.4
%
 
1,445

 
12.05

 
 
Belk, Burkes Outlet, Kmart
 
 
407

 
Oakwood Commons
 
Hermitage
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
 
1989
 
267,558

 
91.5
%
 
2,760

 
11.43

 
Publix
 
Bed Bath & Beyond, Dollar Tree, Goody’s, PetSmart, Ross Dress for Less
 
 
408

 
Kimball Crossing
 
Kimball
 
TN
 
Chattanooga, TN-GA
 
2007
 
280,476

 
98.9
%
 
1,896

 
7.53

 
Walmart Supercenter
 
Goody's
 
Lowe's
409

 
Kingston Overlook
 
Knoxville
 
TN
 
Knoxville, TN
 
1996
 
122,536

 
100.0
%
 
1,136

 
9.52

 
 
Babies"R"Us, Badcock Home Furniture, Sears Outlet
 
 
410

 
Farrar Place
 
Manchester
 
TN
 
Tullahoma-Manchester, TN
 
1989
 
43,220

 
100.0
%
 
388

 
8.98

 
Food Lion (Delhaize)
 
 
 
411

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

 
83.7
%
 
8,290

 
15.70

 
 
Academy Sports + Outdoors, Best Buy, Big Lots, Dave & Busters, David's Bridal, DSW, Office Depot, PetSmart, T.J.Maxx, Value City Furniture
 
Target, The Home Depot, Toys"R"Us
412

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

 
87.2
%
 
1,205

 
12.11

 
Kroger
 
Aaron's
 
 
413

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

 
100.0
%
 
1,075

 
12.38

 
Kroger
 
 
Walgreens
414

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

 
98.3
%
 
1,266

 
7.06

 
Walmart Supercenter
 
Dollar Tree
 
 
415

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

 
95.2
%
 
1,183

 
5.97

 
Walmart Supercenter
 
Goody's
 
 
416

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

 
86.4
%
 
287

 
8.01

 
 
Bealls (Stage Stores), Family Dollar
 
 
417

 
Bardin Place Center
 
Arlington
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1993
 
420,550

 
100.0
%
 
4,089

 
9.72

 
WinCo Foods
 
Hemispheres, Hobby Lobby, Ross Dress for Less
 
 
418

 
Parmer Crossing
 
Austin
 
TX
 
Austin-Round Rock, TX
1989
 
169,552

 
76.5
%
 
1,557

 
12.01

 
 
Big Lots, Dollar Tree, Harbor Freight Tools, Mega Furniture
 
Fry's Electronics
419

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

 
82.4
%
 
884

 
11.19

 
 
24 Hour Fitness
 
 
420

 
Cedar Bellaire
 
Bellaire
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1994
 
50,967

 
100.0
%
 
850

 
16.68

 
H-E-B
 
 
 
421

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

 
100.0
%
 
654

 
9.13

 
El Ahorro Supermarket
 
Dollar Tree, Family Dollar
 
 
422

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

 
100.0
%
 
382

 
7.54

 
 
99 Cents Only, Citi Trends, Dollar Floor Store, Firestone
 
 
423

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

 
91.2
%
 
1,023

 
8.20

 
 
Tops Printing
 
 
424

 
Plantation Plaza
 
Clute
 
TX
 
Houston-The Woodlands-Sugar Land, TX
1997
 
99,141

 
99.0
%
 
812

 
8.44

 
 
Walgreens
 
 
425

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

 
98.0
%
 
2,783

 
16.44

 
 
Dollar Tree, OfficeMax, Spec's Liquors, Wally's Party Factory
 
Kohl's
426

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

 
99.0
%
 
1,352

 
26.28

 
Kroger
 
CVS
 
 
427

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

 
77.2
%
 
666

 
10.26

 
 
Bay Area Dialysis, Bealls (Stage Stores), Tuesday Morning
 
 
428

 
Five Points
 
Corpus Christi
 
TX
 
Corpus Christi, TX
 
1985
 
277,046

 
92.9
%
 
3,170

 
12.52

 
 
Bealls (Stage Stores), Burkes Outlet, Harbor Freight Tools, Hobby Lobby, Party City, Ross Dress for Less
 
 
429

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

 
100.0
%
 
574

 
8.66

 
Fiesta Mart
 
Family Dollar
 
 
430

 
Jeff Davis
 
Dallas
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1975
 
68,962

 
49.8
%
 
517

 
15.06

 
 
Family Dollar
 
 
431

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

 
100.0
%
 
441

 
9.69

 
 
Big Lots, O'Reilly Auto Parts
 
 
432

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

 
100.0
%
 
1,121

 
10.79

 
El Rio Grande Latin Market
 
Family Dollar
 
 
433

 
Wynnewood Village
 
Dallas
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2006
 
443,681

 
88.5
%
 
4,183

 
10.79

 
El Rancho, Kroger
 
Fallas Paredes, Gen X Clothing, Ross Dress for Less
 
 
434

 
Parktown
 
Deer Park
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
121,163

 
92.5
%
 
961

 
8.57

 
Food Town
 
Burkes Outlet, Walgreens
 
 
435

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

 
91.0
%
 
717

 
10.60

 
Albertsons
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2017
Page 47
jpgstandardlogoa21.jpg




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Non-Owned Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
436

 
Preston Ridge (2)
 
Frisco
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2017
 
794,124

 
96.1
%
 
15,534

 
20.49

 
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
 
 
437

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

 
100.0
%
 
395

 
5.67

 
Foodland Markets
 
Family Dollar, Hi Style Fashion
 
 
438

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

 
97.1
%
 
1,828

 
11.04

 
Tom Thumb (Albertsons)
 
Goody Goody Wine & Spirits, Stein Mart
 
 
439

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

 
98.3
%
 
3,816

 
19.67

 
Tom Thumb (Albertsons)
 
DSW
 
 
440

 
Village Plaza
 
Garland
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2002
 
89,241

 
100.0
%
 
1,065

 
11.93

 
Truong Nguyen Grocer
 
 
 
441

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

 
85.8
%
 
272

 
7.32

 
 
Dollar Tree
 
 
442

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

 
26.3
%
 
350

 
15.85

 
 
 
 
443

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

 
98.3
%
 
768

 
10.90

 
Kroger
 
 
 
444

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

 
97.0
%
 
965

 
28.51

 
Kroger
 
 
 
445

 
Braes Heights
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2003
 
94,086

 
90.1
%
 
1,959

 
23.10

 
 
CVS, Imagination Toys, I W Marks Jewelers
 
 
446

 
Braes Link
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
30,189

 
100.0
%
 
561

 
18.58

 
 
Walgreens
 
 
447

 
Braes Oaks Center
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1992
 
45,067

 
88.6
%
 
437

 
10.94

 
H-E-B
 
 
 
448

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

 
97.4
%
 
597

 
6.71

 
Food Town
 
 
 
449

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

 
100.0
%
 
775

 
10.78

 
El Ahorro Supermarket
 
Fallas Paredes, Melrose Fashions
 
 
450

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

 
94.1
%
 
1,447

 
15.57

 
ALDI
 
24 Hour Fitness, Mr. Gatti's Pizza, Spec's Liquors
 
 
451

 
Hearthstone Corners
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1998
 
208,147

 
93.0
%
 
1,826

 
9.43

 
Kroger
 
Big Lots, Stein Mart
 
 
452

 
Jester Village
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1988
 
64,285

 
72.2
%
 
498

 
10.73

 
H-E-B
 
 
 
453

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

 
68.6
%
 
787

 
10.31

 
 
Fitness Connection
 
 
454

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

 
100.0
%
 
1,278

 
7.66

 
 
Big Lots, Hobby Lobby
 
 
455

 
Maplewood
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2004
 
93,711

 
97.3
%
 
778

 
8.54

 
Foodarama
 
Burke's Outlet
 
 
456

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

 
100.0
%
 
3,463

 
14.20

 
Kroger
 
Big Lots, Petco, Ross Dress for Less, Tuesday Morning
 
 
457

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

 
100.0
%
 
309

 
7.68

 
 
Affordable Furniture, Firestone, Lumber Liquidators, TitleMax
 
 
458

 
Northshore
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2001
 
231,579

 
86.3
%
 
2,671

 
13.58

 
Sellers Bros.
 
Conn's, Office Depot
 
 
459

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

 
94.6
%
 
2,119

 
11.92

 
 
99 Cents Only, CVS, dd's Discounts (Ross), Fallas Paredes
 
 
460

 
Northwood Plaza
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1972
 
136,747

 
93.1
%
 
1,453

 
11.61

 
Food City
 
 
 
461

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

 
99.1
%
 
1,879

 
10.70

 
 
24 Hour Fitness, Floor & Décor
 
 
462

 
Pinemont Shopping Center
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
73,577

 
92.9
%
 
911

 
13.64

 
 
Family Dollar, Houston Community College
 
 
463

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

 
97.4
%
 
3,248

 
23.00

 
H-E-B
 
 
 
464

 
Tanglewilde Center
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1998
 
82,565

 
100.0
%
 
1,127

 
13.77

 
 
Ace Hardware, Dollar Tree, Party City, Salon In The Park
 
 
465

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

 
86.0
%
 
1,976

 
9.53

 
Fiesta Mart
 
Marshalls
 
 
466

 
Fry Road Crossing
 
Katy
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2005
 
237,340

 
100.0
%
 
2,424

 
10.57

 
 
Hobby Lobby, Palais Royal, Stein Mart
 
 
467

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

 
85.1
%
 
365

 
6.68

 
 
AutoZone, Bealls (Stage Stores), Dollar Tree
 
 
468

 
Jefferson Park
 
Mount Pleasant
 
TX
 
Mount Pleasant, TX
 
2001
 
132,096

 
99.1
%
 
948

 
7.36

 
Super 1 Foods
 
Harbor Freight Tools, PetSense
 
 
469

 
Winwood Town Center
 
Odessa
 
TX
 
Odessa, TX
 
2002
 
365,559

 
93.2
%
 
2,680

 
13.17

 
H-E-B
 
Michaels, Office Depot, Party City, Ross Dress for Less, Target
 
 
470

 
Crossroads Centre - Pasadena
 
Pasadena
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1997
 
134,006

 
77.8
%
 
1,312

 
13.75

 
Kroger
 
 
 
471

 
Spencer Square
 
Pasadena
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1998
 
194,470

 
93.5
%
 
2,191

 
12.05

 
Kroger
 
Burkes Outlet
 
 
472

 
Pearland Plaza
 
Pearland
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1995
 
156,491

 
81.6
%
 
1,157

 
9.06

 
Kroger
 
Harbor Freight Tools, Walgreens
 
 
473

 
Market Plaza
 
Plano
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2002
 
167,804

 
71.3
%
 
2,792

 
24.46

 
Central Market (H-E-B)
 
 
 
474

 
Preston Park Village
 
Plano
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1985
 
270,128

 
90.2
%
 
6,113

 
25.08

 
Kroger
 
Gap Factory Store, Infinite Bounds Gymnastics
 
 
475

 
Northshore Plaza
 
Portland
 
TX
 
Corpus Christi, TX
 
2000
 
152,144

 
98.4
%
 
1,071

 
14.28

 
H-E-B
 
Bealls (Stage Stores)
 
Kmart
476

 
Klein Square
 
Spring
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
80,636

 
96.2
%
 
832

 
10.73

 
Food Town
 
Family Dollar, Petco
 
 
477

 
Keegan's Meadow
 
Stafford
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
125,293

 
91.0
%
 
1,204

 
10.89

 
Randalls (Albertsons)
 
Palais Royal
 
 
478

 
Texas City Bay
 
Texas City
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2005
 
223,152

 
53.6
%
 
1,178

 
9.91

 
Kroger
 
 
 
479

 
Windvale Center
 
The Woodlands
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2002
 
101,088

 
95.2
%
 
1,068

 
27.47

 
Randalls (Albertsons)
 
 
 
480

 
The Centre at Navarro
 
Victoria
 
TX
 
Victoria, TX
 
2005
 
66,102

 
58.5
%
 
484

 
23.54

 
ALDI
 
Walgreens
 
 
481

 
Spradlin Farm
 
Christiansburg
 
VA
 
Blacksburg-Christiansburg-Radford, VA
 
2000
 
181,055

 
100.0
%
 
2,747

 
15.43

 
 
Barnes & Noble, Big Lots, Michaels, Petco, T.J.Maxx
 
Target, The Home Depot
482

 
Culpeper Town Square
 
Culpeper
 
VA
 
Washington-Arlington-Alexandria, DC-VA-MD-WV
 
1999
 
132,882

 
100.0
%
 
1,183

 
8.90

 
Food Lion (Weis Markets)
 
Mountain Run Bowling, Tractor Supply Co.
 
 
483

 
Hanover Square
 
Mechanicsville
 
VA
 
Richmond, VA
 
1991
 
129,887

 
99.2
%
 
1,699

 
13.18

 
 
Gold's Gym, Hobby Lobby
 
Kohl's
484

 
Jefferson Green
 
Newport News
 
VA
 
Virginia Beach-Norfolk-Newport News, VA-NC
 
1988
 
54,945

 
97.4
%
 
795

 
14.85

 
 
DXL Destination XL, Once Upon a Child, Tuesday Morning
 
 
485

 
Tuckernuck Square
 
Richmond
 
VA
 
Richmond, VA
 
1981
 
86,010

 
94.4
%
 
1,267

 
15.61

 
 
2nd & Charles, Chuck E. Cheese's
 
 
486

 
Cave Spring Corners
 
Roanoke
 
VA
 
Roanoke, VA
 
2005
 
147,133

 
100.0
%
 
1,188

 
13.46

 
Kroger
 
Hamrick's
 
 
487

 
Hunting Hills
 
Roanoke
 
VA
 
Roanoke, VA
 
1989
 
166,207

 
96.7
%
 
1,381

 
8.60

 
 
Dollar Tree, Kohl's, PetSmart
 
 
488

 
Valley Commons
 
Salem
 
VA
 
Roanoke, VA
 
1988
 
45,580

 
17.8
%
 
84

 
10.37

 
 
 
AMC Theatres

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PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR PSF
 
Grocer (1)
 
Other Major Tenants
 
Non-Owned Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
489

 
Lake Drive Plaza
 
Vinton
 
VA
 
Roanoke, VA
 
2008
 
163,290

 
100.0
%
 
1,324

 
8.12

 
Kroger
 
Big Lots, Dollar Tree
 
 
490

 
Hilltop Plaza
 
Virginia Beach
 
VA
 
Virginia Beach-Norfolk-Newport News, VA-NC
 
2010
 
150,300

 
100.0
%
 
2,600

 
17.47

 
Trader Joe's
 
Jo-Ann Fabric & Craft Stores, Kirkland’s, PetSmart
 
 
491

 
Ridgeview Centre
 
Wise
 
VA
 
Big Stone Gap, VA
 
1990
 
190,242

 
67.6
%
 
991

 
7.71

 
 
Dollar Tree, Grand Home Furnishings, Harbor Freight Tools, Ollie's Bargain Outlet
 
Belk
492

 
Rutland Plaza
 
Rutland
 
VT
 
Rutland, VT
 
1997
 
224,514

 
98.6
%
 
1,971

 
8.91

 
Market 32
 
Dollar Tree, Flagship Cinemas, T.J.Maxx, Walmart
 
 
493

 
Spring Mall
 
Greenfield
 
WI
 
Milwaukee-Waukesha-West Allis, WI
2003
 
188,861

 
83.5
%
 
1,100

 
8.38

 
 
T.J.Maxx
 
 
494

 
Mequon Pavilions
 
Mequon
 
WI
 
Milwaukee-Waukesha-West Allis, WI
 
1967
 
219,618

 
86.7
%
 
3,029

 
15.90

 
Sendik's Food Market
 
Bed Bath & Beyond, DSW, Marshalls
 
 
495

 
Moorland Square Shopping Ctr
 
New Berlin
 
WI
 
Milwaukee-Waukesha-West Allis, WI
 
1990
 
98,303

 
94.9
%
 
912

 
9.78

 
Pick 'n Save (Kroger)
 
 
 
496

 
Paradise Pavilion
 
West Bend
 
WI
 
Milwaukee-Waukesha-West Allis, WI
 
2000
 
203,545

 
98.2
%
 
1,512

 
7.56

 
 
Hobby Lobby, Kohl's
 
ShopKo
497

 
Moundsville Plaza
 
Moundsville
 
WV
 
Wheeling, WV-OH
 
2004
 
176,156

 
97.2
%
 
1,237

 
7.23

 
Kroger
 
Big Lots, Dunham's Sports, Peebles
 
 
498

 
Grand Central Plaza
 
Parkersburg
 
WV
 
Parkersburg-Vienna, WV
 
1986
 
75,344

 
100.0
%
 
849

 
11.27

 
 
Office Depot, O'Reilly Auto Parts, T.J.Maxx
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL PORTFOLIO
 
 
 
 
 
 
 
 
 
84,091,870

 
91.6
%
 
$
945,721

 
$
13.28

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) * Indicates grocer is not owned.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(2) Indicates property is currently in redevelopment.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

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GUIDANCE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure
Three Months Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





GUIDANCE & ADDITIONAL DISCLOSURES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2017 GUIDANCE
 
 
 
 
 
 
 
 
 
 
 
 
 
Updated
 
Prior
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NAREIT FFO per diluted share (1)(2)
$2.05 - $2.09

 
$2.05 - $2.12

 
 
 
 
 
Key Underlying Assumptions
 
 
 
 
 
 
 
 
 
Same property NOI growth
2.0 - 2.5%

 
2.0 - 3.0%

 
 
 
 
 
 
Straight-line rental income, amortization of above- and below-market rent and tenant inducements and straight-line ground rent expense
$44 - $46M

 
$44 - $46M

 
 
 
 
 
 
General and administrative expenses (1)(3)
$88 - $92M

 
$88 - $92M

 
 
 
 
 
 
GAAP interest expense (2)
$227 - $229M

 
$228 - $230M

 
 
 
 
 
 
Value enhancing capital expenditures
$110 - $135M

 
$110 - $135M

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ADDITIONAL DISCLOSURES - as of 9/30/17 (dollars in millions, except per square foot amounts)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Leases signed but not yet commenced:
Leases
 
GLA
 
ABR
 
ABR PSF
 
 
 
 
≥ 10,000 SF
54

 
1,285,848

 
$
17.9

 
$
13.95

 
 
 
 
< 10,000 SF
247

 
718,793

 
15.3

 
21.31

 
 
 
 
TOTAL
301

 
2,004,641

 
$
33.2

 
$
16.59

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Does not include any expectations of additional one-time items, including, but not limited to, litigation, investigative and other non-routine legal expenses.
 
 
 
 
(2) Does not include any expectations of additional deleveraging activity.
 
 
 
 
 
 
 
(3) Reflects actual litigation and other non-routine legal expenses recognized year-to-date.
 
 
 
 
 
 
 





Supplemental Disclosure - Three Months Ended September 30, 2017
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