|
|
|
|
|
Maryland
|
|
001-36160
|
|
45-2433192
|
Delaware
|
|
333-201464-01
|
|
80-0831163
|
(State or Other Jurisdiction
of Incorporation)
|
|
(Commission
File Number)
|
|
(IRS Employer
Identification No.)
|
☐
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
☐
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
☐
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
☐
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Item 2.02
|
Results of Operations and Financial Condition.
|
10.1
|
|
Amendment No. 1 to Revolving Credit and Term Loan Agreement, dated as of February 5, 2015, among Brixmor Operating Partnership LP, as borrower, JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto.
|
|
|
|
10.2
|
|
Amendment No. 1 to Term Loan Agreement, dated as of February 5, 2015, among Brixmor Operating Partnership LP, as borrower, JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto.
|
|
|
|
99.1
|
|
Press release issued February 9, 2015.
|
|
|
|
99.2
|
|
Brixmor Property Group Inc. Supplemental Financial Information for the fourth quarter and year ended December 31, 2014.
|
|
|
BRIXMOR PROPERTY GROUP INC.
|
|
|
|
By:
|
/s/Steven F. Siegel
|
Name:
|
Steven F. Siegel
|
Title:
|
Executive Vice President,
|
|
General Counsel and Secretary
|
|
|
BRIXMOR OPERATING PARTNERSHIP LP
|
|
|
|
By:
|
Brixmor OP GP LLC, its general partner
|
|
|
By:
|
BPG Subsidiary Inc., its sole member
|
|
|
By:
|
/s/Steven F. Siegel
|
Name:
|
Steven F. Siegel
|
Title:
|
Executive Vice President,
|
|
General Counsel and Secretary
|
Exhibit No.
|
|
Description
|
10.1
|
|
Amendment No. 1 to Revolving Credit and Term Loan Agreement, dated as of February 5, 2015, among Brixmor Operating Partnership LP, as borrower, JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto.
|
|
|
|
10.2
|
|
Amendment No. 1 to Term Loan Agreement, dated as of February 5, 2015, among Brixmor Operating Partnership LP, as borrower, JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto.
|
|
|
|
99.1
|
|
Press release issued February 9, 2015.
|
|
|
|
99.2
|
|
Brixmor Property Group Inc. Supplemental Financial Information for the fourth quarter and year ended December 31, 2014.
|
BRIXMOR OPERATING PARTNERSHIP LP
|
|
|
|
By:
|
Brixmor OP GP LLC, its general partner
|
|
|
By:
|
/s/Steven F. Siegel
|
Name:
|
Steven F. Siegel
|
Title:
|
Executive Vice President
|
|
|
J.P. MORGAN CHASE BANK, N.A.,
|
|
as Administrative Agent and as Lender
|
|
|
|
By:
|
/s/Mohammad S. Hasan
|
Name:
|
Mohammad S. Hasan
|
Title:
|
Vice President
|
|
|
BANK OF AMERICA, N.A.
|
|
|
|
By:
|
/s/Ann E. Kenzie
|
Name:
|
Ann E. Kenzie
|
Title:
|
Senior Vice President
|
|
|
WELLS FARGO BANK, NATIONAL ASSOCIATION
|
|
|
|
By:
|
/s/Bryan Gregory
|
Name:
|
Bryan Gregory
|
Title:
|
Director
|
|
|
BARCLAYS BANK PLC
|
|
|
|
By:
|
/s/Christine Aharonian
|
Name:
|
Christine Aharonian
|
Title:
|
Vice President
|
|
|
CITIBANK, N.A.
|
|
|
|
By:
|
/s/John C. Rowland
|
Name:
|
John C. Rowland
|
Title:
|
Vice President
|
|
|
DEUTSCHE BANK AG NEW YORK BRANCH
|
|
|
|
By:
|
/s/J.T. Johnston Coe
|
Name:
|
J.T. Johnston Coe
|
Title:
|
Managing Director
|
|
|
By:
|
/s/Joanna Soliman
|
Name:
|
Joanna Soliman
|
Title:
|
Vice President
|
|
|
ROYAL BANK OF CANADA
|
|
|
|
By:
|
/s/Joshua Freedman
|
Name:
|
Joshua Freedman
|
Title:
|
Authorized Signatory
|
|
|
PNC BANK, NATIONAL ASSOCIATION
|
|
|
|
By:
|
/s/Brian P. Kelly
|
Name:
|
Brian P. Kelly
|
Title:
|
Senior Vice President
|
|
|
UBS AG, STAMFORD BRANCH
|
|
|
|
By:
|
/s/Darlene Arias
|
Name:
|
Darlene Arias
|
Title:
|
Director
|
|
|
By:
|
/s/Houssem Daly
|
Name:
|
Houssem Daly
|
Title:
|
Associate Director
|
|
|
MUFG UNION BANK, N.A.
|
|
|
|
By:
|
/s/Andrew Agius
|
Name:
|
Andrew Agius
|
Title:
|
Associate
|
|
|
SUNTRUST BANK
|
|
|
|
By:
|
/s/Bryan P. McFarland
|
Name:
|
Bryan P. McFarland
|
Title:
|
Senior Vice President
|
|
|
REGIONS BANK
|
|
|
|
By:
|
/s/Lori Chambers
|
Name:
|
Lori Chambers
|
Title:
|
Vice President
|
|
|
KEYBANK NATIONAL ASSOCIATION
|
|
|
|
By:
|
/s/Jennifer L. Power
|
Name:
|
Jennifer L. Power
|
Title:
|
Vice President
|
|
|
U.S. BANK NATIONAL ASSOCIATION
|
|
|
|
By:
|
/s/Gary D. Houston
|
Name:
|
Gary D. Houston
|
Title:
|
Vice President
|
|
|
BRANCH BANKING AND TRUST COMPANY
|
|
|
|
By:
|
/s/Eric Searls
|
Name:
|
Eric Searls
|
Title:
|
Senior Vice President
|
|
|
THE BANK OF NEW YORK MELLON
|
|
|
|
By:
|
/s/Rick Laudisi
|
Name:
|
Rick Laudisi
|
Title:
|
Managing Director
|
|
|
CAPITAL ONE, NATIONAl ASSOCIATION
|
|
|
|
By:
|
/s/Frederick H. Denecke
|
Name:
|
Frederick H. Denecke
|
Title:
|
Senior Vice President
|
|
|
RBS CITIZENS BANK, N.A.
|
|
|
|
By:
|
/s/Craig Aframe
|
Name:
|
Craig Aframe
|
Title:
|
U.P.
|
|
|
SUMITOMO MITSUI BANKING CORPORATION
|
|
|
|
By:
|
/s/Hideo Notsu
|
Name:
|
Hideo Notsu
|
Title:
|
Executive Director
|
|
|
TD BANK, N.A.
|
|
|
|
By:
|
/s/Anthony A. Filorimo
|
Name:
|
Anthony A. Filorimo
|
Title:
|
Senior Vice President
|
|
|
HUNTINGTON NATIONAL BANK
|
|
|
|
By:
|
/s/Marla S Bergrin
|
Name:
|
Marla S. Bergrin
|
Title:
|
Vice President
|
|
|
RAYMOND JAMES BANK, N.A.
|
|
|
|
By:
|
/s/James M. Armstrong
|
Name:
|
James M. Armstrong
|
Title:
|
Senior Vice President
|
|
|
FIRST TENNESSEE BANK NATIONAL ASSOCIATION
|
|
|
|
By:
|
/s/Matthew T. Mathis
|
Name:
|
Matthew T. Mathis
|
Title:
|
Senior Vice President
|
|
|
BRIXMOR OPERATING PARTNERSHIP LP
|
|
|
|
By:
|
Brixmor OP GP LLC, its general partner
|
|
|
By:
|
/s/Steven F. Siegel
|
Name:
|
Steven F. Siegel
|
Title:
|
Executive Vice President
|
|
|
J.P. MORGAN CHASE BANK, N.A.,
|
|
as Administrative Agent and as Lender
|
|
|
|
By:
|
/s/Mohammad S. Hasan
|
Name:
|
Mohammad S. Hasan
|
Title:
|
Vice President
|
|
|
ROYAL BANK OF CANADA
|
|
|
|
By:
|
/s/Joshua Freedman
|
Name:
|
Joshua Freedman
|
Title:
|
Authorized Signatory
|
|
|
PNC BANK, NATIONAL ASSOCIATION
|
|
|
|
By:
|
/s/Brian P. Kelly
|
Name:
|
Brian P. Kelly
|
Title:
|
Senior Vice President
|
|
|
THE BANK OF NEW YORK MELLON
|
|
|
|
By:
|
/s/Rick Laudisi
|
Name:
|
Rick Laudisi
|
Title:
|
Managing Director
|
|
|
CAPITAL ONE, NATIONAl ASSOCIATION
|
|
|
|
By:
|
/s/Frederick H. Denecke
|
Name:
|
Frederick H. Denecke
|
Title:
|
Senior Vice President
|
|
|
RBS CITIZENS BANK, N.A.
|
|
|
|
By:
|
/s/Craig Aframe
|
Name:
|
C. Aframe
|
Title:
|
U.P.
|
|
|
SUNTRUST BANK
|
|
|
|
By:
|
/s/Bryan P. McFarland
|
Name:
|
Bryan P. McFarland
|
Title:
|
Senior Vice President
|
|
|
U.S. BANK NATIONAL ASSOCIATION
|
|
|
|
By:
|
/s/Gary D. Houston
|
Name:
|
Gary D. Houston
|
Title:
|
Vice President
|
|
|
SUMITOMO MITSUI BANKING CORPORATION
|
|
|
|
By:
|
/s/Hideo Notsu
|
Name:
|
Hideo Notsu
|
Title:
|
Executive Director
|
|
|
TD BANK, N.A.
|
|
|
|
By:
|
/s/Anthony A. Filorimo
|
Name:
|
Anthony A. Filorimo
|
Title:
|
Senior Vice President
|
|
|
MUFG UNION BANK, N.A.
|
|
|
|
By:
|
/s/Andrew Agius
|
Name:
|
Andrew Agius
|
Title:
|
Associate
|
|
|
WELLS FARGO BANK, NATIONAL ASSOCIATION
|
|
|
|
By:
|
/s/Bryan Gregory
|
Name:
|
Bryan Gregory
|
Title:
|
Director
|
|
|
BRANCH BANKING AND TRUST COMPANY
|
|
|
|
By:
|
/s/Eric Searls
|
Name:
|
Eric Searls
|
Title:
|
Senior Vice President
|
|
|
CITIBANK, N.A.
|
|
|
|
By:
|
/s/John C. Rowland
|
Name:
|
John C. Rowland
|
Title:
|
Vice President
|
|
|
REGIONS BANK
|
|
|
|
By:
|
/s/Lori Chambers
|
Name:
|
Lori Chambers
|
Title:
|
Vice President
|
|
|
THE BANK OF NOVA SCOTIA
|
|
|
|
By:
|
/s/Chad Hale
|
Name:
|
Chad Hale
|
Title:
|
Director & Execution Head
|
|
|
HUNTINGTON NATIONAL BANK
|
|
|
|
By:
|
/s/Marla S Bergrin
|
Name:
|
Marla S. Bergrin
|
Title:
|
Vice President
|
|
|
MEGA INTERNATIONAL COMMERICAL BANK CO., LTD. NEW YORK BRANCH
|
|
|
|
By:
|
/s/Angela Chen
|
Name:
|
Angela Chen
|
Title:
|
VP & DGM
|
|
|
|
|
Three Months Ended
|
|
|
|||
|
|
12/31/2014
|
|
|
12/31/2013
|
|
Change
|
Percent leased
|
|
92.8%
|
|
|
92.4%
|
|
+40 basis points
|
Percent leased: anchors (≥ 10K SF)
|
|
97.1%
|
|
|
97.1%
|
|
flat
|
Percent leased: small shop (< 10K SF)
|
|
82.6%
|
|
|
81.6%
|
|
+100 basis points
|
Total new and renewal lease average annualized base rent (“ABR”) / SF
|
|
$12.89
|
|
|
$11.96
|
|
+7.8%
|
Total rent spread (cash)
|
|
13.9%
|
|
|
11.0%
|
|
+290 basis points
|
|
|
2015E
|
FFO per common share - diluted
|
|
$1.94 - $2.00
|
Same property NOI
|
|
3.0 - 3.7%
|
Percent leased (at year-end)
|
|
93.0 - 93.5%
|
New and renewal rent growth (cash)
|
|
12.0 - 17.0%
|
Total leasing related capital expenditures
|
|
$155 - $175M
|
Anchor space repositioning and redevelopment related spending
|
|
$85 - $100M
|
General and administrative expenses
|
|
$79 - $82M
|
Interest expense
|
|
$256 - $265M
|
Straight-line rent and above- and below-market rent amortization, net
|
|
$54 - $59M
|
|
|
Low
|
|
High
|
2014 FFO per common share - diluted
|
|
$1.80
|
|
$1.80
|
Same property NOI
|
|
$0.08
|
|
$0.10
|
Net interest expense savings
|
|
$0.04
|
|
$0.07
|
Lower straight-line rent and above- and below-market rent amortization, net
|
|
($0.03)
|
|
($0.02)
|
2014 loss on extinguishment of debt, net
|
|
$0.05
|
|
$0.05
|
2015E FFO per common share - diluted
|
|
$1.94
|
|
$2.00
|
(Unaudited, dollars in millions, except per share amounts)
|
|
|
||
|
|
2015E
|
|
2015E Per Common Share - Diluted
|
Net income attributable to common stockholders
|
|
$143 - $165
|
|
$0.47 - $0.54
|
Depreciation and amortization
|
|
($448 - $445)
|
|
($1.47 - $1.46)
|
FFO attributable to stockholders and non-controlling interests convertible into common stock
|
|
$591 - $610
|
|
$1.94 - $2.00
|
CONSOLIDATED BALANCE SHEETS
|
|
|
|
|
|
|
||||||||||
Unaudited, dollars in thousands, except share information
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
|
|
|
Actual Results
|
|
Pro Forma
|
|
||||||||
|
|
|
|
|
12/31/14
|
|
12/31/13
|
|
12/31/13
|
|
||||||
|
Assets
|
|
|
|
|
|
|
|||||||||
|
|
Real estate
|
|
|
|
|
|
|
||||||||
|
|
|
Land
|
$
|
2,000,415
|
|
|
$
|
2,055,802
|
|
|
$
|
1,989,160
|
|
|
|
|
|
|
Buildings and improvements
|
8,801,834
|
|
|
8,781,926
|
|
|
8,654,899
|
|
|
||||
|
|
|
|
|
10,802,249
|
|
|
10,837,728
|
|
|
10,644,059
|
|
|
|||
|
|
|
Accumulated depreciation and amortization
|
(1,549,234
|
)
|
|
(1,190,170
|
)
|
|
(1,160,478
|
)
|
|
||||
|
|
Real estate, net
|
9,253,015
|
|
|
9,647,558
|
|
|
9,483,581
|
|
|
|||||
|
|
Investments in and advances to unconsolidated joint ventures
|
5,072
|
|
|
9,205
|
|
|
5,171
|
|
|
|||||
|
|
Cash and cash equivalents
|
60,595
|
|
|
113,915
|
|
|
95,332
|
|
|
|||||
|
|
Restricted cash
|
53,164
|
|
|
75,457
|
|
|
74,847
|
|
|
|||||
|
|
Marketable securities
|
20,315
|
|
|
22,104
|
|
|
22,104
|
|
|
|||||
|
|
Receivables, net
|
182,424
|
|
|
178,505
|
|
|
175,584
|
|
|
|||||
|
|
Deferred charges and prepaid expenses, net
|
114,758
|
|
|
105,522
|
|
|
103,237
|
|
|
|||||
|
|
Other assets
|
13,059
|
|
|
19,650
|
|
|
14,043
|
|
|
|||||
|
Total assets
|
$
|
9,702,402
|
|
|
$
|
10,171,916
|
|
|
$
|
9,973,899
|
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Liabilities
|
|
|
|
|
|
|
|||||||||
|
|
Debt obligations, net
|
$
|
6,042,997
|
|
|
$
|
5,981,289
|
|
|
$
|
5,965,307
|
|
|
||
|
|
Financing liabilities, net
|
—
|
|
|
175,111
|
|
|
175,111
|
|
|
|||||
|
|
Accounts payable, accrued expenses and other liabilities
|
679,102
|
|
|
709,529
|
|
|
701,495
|
|
|
|||||
|
Total liabilities
|
6,722,099
|
|
|
6,865,929
|
|
|
6,841,913
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Redeemable non-controlling interests
|
—
|
|
|
21,467
|
|
|
21,467
|
|
|
||||||
|
Commitments and contingencies
|
—
|
|
|
—
|
|
|
—
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Equity
|
|
|
|
|
|
|
|||||||||
|
|
Common stock, $0.01 par value; authorized 3,000,000,000 shares;
|
|
|
|
|
|
|
||||||||
|
|
|
296,552,142 and 229,689,960 shares outstanding
|
2,966
|
|
|
2,297
|
|
|
2,297
|
|
|
||||
|
|
Additional paid in capital
|
3,223,941
|
|
|
2,543,690
|
|
|
2,543,690
|
|
|
|||||
|
|
Accumulated other comprehensive loss
|
(4,435
|
)
|
|
(6,812
|
)
|
|
(6,812
|
)
|
|
|||||
|
|
Distributions and accumulated losses
|
(318,762
|
)
|
|
(196,707
|
)
|
|
(196,707
|
)
|
|
|||||
|
Total stockholders' equity
|
2,903,710
|
|
|
2,342,468
|
|
|
2,342,468
|
|
|
||||||
|
|
Non-controlling interests
|
76,593
|
|
|
942,052
|
|
|
768,051
|
|
|
|||||
|
Total equity
|
2,980,303
|
|
|
3,284,520
|
|
|
3,110,519
|
|
|
||||||
|
Total liabilities and equity
|
$
|
9,702,402
|
|
|
$
|
10,171,916
|
|
|
$
|
9,973,899
|
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
ix
|
|
CONSOLIDATED STATEMENTS OF OPERATIONS
|
|
|
|
|
|
|
|
||||||||||||||||||||||||||||||
Unaudited, dollars in thousands, except per share amounts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
|
|
|
Pro Forma
|
|
|
Actual Results
|
|
|||||||||||||||||||||||||||||
|
|
|
|
|
Three Months Ended
|
|
Twelve Months Ended
|
|
|
Three Months Ended
|
|
Twelve Months Ended
|
|
||||||||||||||||||||||||
|
|
|
|
|
12/31/14
|
|
12/31/13
|
|
12/31/14
|
|
12/31/13
|
|
|
12/31/14
|
|
12/31/13
|
|
12/31/14
|
|
12/31/13
|
|
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
|
|
Rental income
|
$
|
242,740
|
|
|
$
|
238,399
|
|
|
$
|
960,715
|
|
|
$
|
940,313
|
|
|
|
$
|
242,740
|
|
|
$
|
233,643
|
|
|
$
|
960,715
|
|
|
$
|
887,466
|
|
|
||
|
|
Expense reimbursements
|
70,306
|
|
|
64,329
|
|
|
268,035
|
|
|
256,000
|
|
|
|
70,306
|
|
|
63,371
|
|
|
268,035
|
|
|
242,803
|
|
|
||||||||||
|
|
Other revenues
|
1,559
|
|
|
1,958
|
|
|
7,849
|
|
|
10,103
|
|
|
|
1,559
|
|
|
8,129
|
|
|
7,849
|
|
|
16,135
|
|
|
||||||||||
|
Total revenues
|
314,605
|
|
|
304,686
|
|
|
1,236,599
|
|
|
1,206,416
|
|
|
|
314,605
|
|
|
305,143
|
|
|
1,236,599
|
|
|
1,146,404
|
|
|
|||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
Operating expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
|
|
Operating costs
|
33,592
|
|
|
31,911
|
|
|
129,148
|
|
|
124,648
|
|
|
|
33,592
|
|
|
31,014
|
|
|
129,148
|
|
|
116,522
|
|
|
||||||||||
|
|
Real estate taxes
|
46,911
|
|
|
44,388
|
|
|
179,504
|
|
|
175,815
|
|
|
|
46,911
|
|
|
43,822
|
|
|
179,504
|
|
|
168,468
|
|
|
||||||||||
|
|
Depreciation and amortization
|
107,706
|
|
|
113,349
|
|
|
441,630
|
|
|
475,498
|
|
|
|
107,706
|
|
|
109,804
|
|
|
441,630
|
|
|
438,547
|
|
|
||||||||||
|
|
Provision for doubtful accounts
|
2,920
|
|
|
3,018
|
|
|
11,537
|
|
|
11,284
|
|
|
|
2,920
|
|
|
2,950
|
|
|
11,537
|
|
|
10,899
|
|
|
||||||||||
|
|
Impairment of real estate assets
|
—
|
|
|
—
|
|
|
—
|
|
|
1,531
|
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,531
|
|
|
||||||||||
|
|
General and administrative
|
20,954
|
|
|
18,435
|
|
|
80,175
|
|
|
83,070
|
|
|
|
20,954
|
|
|
55,403
|
|
|
80,175
|
|
|
121,082
|
|
|
||||||||||
|
Total operating expenses
|
212,083
|
|
|
211,101
|
|
|
841,994
|
|
|
871,846
|
|
|
|
212,083
|
|
|
242,993
|
|
|
841,994
|
|
|
857,049
|
|
|
|||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
Other income (expense)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
|
|
Dividends and interest
|
166
|
|
|
205
|
|
|
602
|
|
|
841
|
|
|
|
166
|
|
|
205
|
|
|
602
|
|
|
832
|
|
|
||||||||||
|
|
Interest expense
|
(63,348
|
)
|
|
(71,925
|
)
|
|
(262,812
|
)
|
|
(290,766
|
)
|
|
|
(63,348
|
)
|
|
(72,466
|
)
|
|
(262,812
|
)
|
|
(343,193
|
)
|
|
||||||||||
|
|
Gain (loss) on sale of real estate assets and acquisition
of joint venture interest
|
—
|
|
|
—
|
|
|
378
|
|
|
921
|
|
|
|
—
|
|
|
—
|
|
|
378
|
|
|
2,223
|
|
|
||||||||||
|
|
Loss on extinguishment of debt, net
|
(11,187
|
)
|
|
(2,384
|
)
|
|
(13,761
|
)
|
|
(1,620
|
)
|
|
|
(11,187
|
)
|
|
(2,279
|
)
|
|
(13,761
|
)
|
|
(20,028
|
)
|
|
||||||||||
|
|
Other
|
(3,098
|
)
|
|
67
|
|
|
(8,431
|
)
|
|
(5,179
|
)
|
|
|
(3,098
|
)
|
|
(3,210
|
)
|
|
(8,431
|
)
|
|
(11,014
|
)
|
|
||||||||||
|
Total other income (expense)
|
(77,467
|
)
|
|
(74,037
|
)
|
|
(284,024
|
)
|
|
(295,803
|
)
|
|
|
(77,467
|
)
|
|
(77,750
|
)
|
|
(284,024
|
)
|
|
(371,180
|
)
|
|
|||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
Income (loss) before equity in income of unconsolidated
joint ventures
|
25,055
|
|
|
19,548
|
|
|
110,581
|
|
|
38,767
|
|
|
|
25,055
|
|
|
(15,600
|
)
|
|
110,581
|
|
|
(81,825
|
)
|
|
|||||||||||
|
Equity in income of unconsolidated joint ventures
|
123
|
|
|
108
|
|
|
438
|
|
|
626
|
|
|
|
123
|
|
|
166
|
|
|
370
|
|
|
1,167
|
|
|
|||||||||||
|
Gain on disposition of investments in unconsolidated
joint ventures
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
|
—
|
|
|
—
|
|
|
1,820
|
|
|
—
|
|
|
|||||||||||
|
Income (loss) from continuing operations
|
25,178
|
|
|
19,656
|
|
|
111,019
|
|
|
39,393
|
|
|
|
25,178
|
|
|
(15,434
|
)
|
|
112,771
|
|
|
(80,658
|
)
|
|
|||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
Discontinued operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
|
|
Income (loss) from discontinued operations
|
26
|
|
|
36
|
|
|
122
|
|
|
(4
|
)
|
|
|
26
|
|
|
4,433
|
|
|
4,909
|
|
|
3,505
|
|
|
||||||||||
|
|
Gain on disposition of operating properties
|
745
|
|
|
—
|
|
|
745
|
|
|
—
|
|
|
|
745
|
|
|
761
|
|
|
15,171
|
|
|
3,392
|
|
|
||||||||||
|
|
Impairment of real estate held for sale
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
|
—
|
|
|
(1,799
|
)
|
|
—
|
|
|
(45,122
|
)
|
|
||||||||||
|
Income (loss) from discontinued operations
|
771
|
|
|
36
|
|
|
867
|
|
|
(4
|
)
|
|
|
771
|
|
|
3,395
|
|
|
20,080
|
|
|
(38,225
|
)
|
|
|||||||||||
|
Net income (loss)
|
25,949
|
|
|
19,692
|
|
|
111,886
|
|
|
39,389
|
|
|
|
25,949
|
|
|
(12,039
|
)
|
|
132,851
|
|
|
(118,883
|
)
|
|
|||||||||||
|
Net (income) loss attributable to non-controlling interests
|
(2,851
|
)
|
|
(5,080
|
)
|
|
(22,832
|
)
|
|
(10,675
|
)
|
|
|
(2,851
|
)
|
|
102
|
|
|
(43,849
|
)
|
|
25,349
|
|
|
|||||||||||
|
Net income (loss) attributable to Brixmor Property Group Inc.
|
23,098
|
|
|
14,612
|
|
|
89,054
|
|
|
28,714
|
|
|
|
23,098
|
|
|
(11,937
|
)
|
|
89,002
|
|
|
(93,534
|
)
|
|
|||||||||||
|
Preferred stock dividends
|
(150
|
)
|
|
—
|
|
|
(150
|
)
|
|
—
|
|
|
|
(150
|
)
|
|
(162
|
)
|
|
(150
|
)
|
|
(162
|
)
|
|
|||||||||||
|
Net income (loss) attributable to common stockholders
|
$
|
22,948
|
|
|
$
|
14,612
|
|
|
$
|
88,904
|
|
|
$
|
28,714
|
|
|
|
$
|
22,948
|
|
|
$
|
(12,099
|
)
|
|
$
|
88,852
|
|
|
$
|
(93,696
|
)
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
Per common share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
|
|
Income (loss) from continuing operations:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
|
|
|
Basic
|
$
|
0.08
|
|
|
$
|
0.06
|
|
|
$
|
0.36
|
|
|
$
|
0.13
|
|
|
|
$
|
0.08
|
|
|
$
|
(0.06
|
)
|
|
$
|
0.36
|
|
|
$
|
(0.33
|
)
|
|
|
|
|
|
Diluted
|
$
|
0.08
|
|
|
$
|
0.06
|
|
|
$
|
0.36
|
|
|
$
|
0.12
|
|
|
|
$
|
0.08
|
|
|
$
|
(0.06
|
)
|
|
$
|
0.36
|
|
|
$
|
(0.33
|
)
|
|
|
|
|
Net income (loss) attributable to common stockholders:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
|
|
|
Basic
|
$
|
0.08
|
|
|
$
|
0.06
|
|
|
$
|
0.36
|
|
|
$
|
0.12
|
|
|
|
$
|
0.08
|
|
|
$
|
(0.06
|
)
|
|
$
|
0.36
|
|
|
$
|
(0.50
|
)
|
|
|
|
|
|
Diluted
|
$
|
0.08
|
|
|
$
|
0.06
|
|
|
$
|
0.36
|
|
|
$
|
0.12
|
|
|
|
$
|
0.08
|
|
|
$
|
(0.06
|
)
|
|
$
|
0.36
|
|
|
$
|
(0.50
|
)
|
|
|
|
|
Weighted average number of vested common shares:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
|
|
|
Basic
|
271,904
|
|
|
228,113
|
|
|
243,390
|
|
|
228,113
|
|
|
|
271,904
|
|
|
213,675
|
|
|
243,390
|
|
|
188,993
|
|
|
|||||||||
|
|
|
Diluted
|
272,835
|
|
|
230,194
|
|
|
244,588
|
|
|
230,194
|
|
|
|
272,835
|
|
|
213,675
|
|
|
244,588
|
|
|
188,993
|
|
|
|
x
|
|
|
xi
|
|
|
xii
|
|
|
xiii
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SUPPLEMENTAL DISCLOSURE
|
||||||||||||||
|
|||||||||||||||
|
|||||||||||||||
|
|||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended December 31, 2014
|
|
|
|
|
|
|
|||||||
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
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|
TABLE OF CONTENTS
|
|
|
|||
|
|
|
|
|
|
|
|
|
|
Page
|
|
|
|
Glossary of Terms
|
1
|
|
|
|
|
Results Overview
|
3
|
|
|
|
|
Financial Summary
|
|
|
|
|
|
|
Consolidated Balance Sheets
|
5
|
|
|
|
|
Consolidated Statements of Operations
|
6
|
|
|
|
|
Consolidated Statements of Cash Flows
|
7
|
|
|
|
|
Reconciliation of Net Income (Loss) to EBITDA
|
8
|
|
|
|
|
Reconciliation of Net Income (Loss) to FFO
|
9
|
|
|
|
|
Supplemental Balance Sheet Detail
|
10
|
|
|
|
|
NOI Detail, Supplemental Statement of Operations Detail, Operating Ratios & Additional Disclosures
|
11
|
|
|
|
|
Same Property NOI Analysis & Reconciliation of Net Income (Loss) Attributable to Common Stockholders
|
12
|
|
|
|
|
Capital Expenditures
|
13
|
|
|
|
|
Capitalization, Liquidity & Debt Ratios
|
14
|
|
|
|
|
Debt Overview
|
15
|
|
|
|
|
Summary of Outstanding Debt
|
16
|
|
|
|
|
Unsecured Notes Covenant Disclosure
|
18
|
|
|
|
|
Unsecured Credit Facility Covenant Disclosure
|
19
|
|
|
|
|
Reconciliation of GAAP Balance Sheet to Pro Forma Balance Sheet
|
20
|
|
|
|
|
Reconciliation of GAAP Statements of Operations to Pro Forma Statements of Operations
|
21
|
|
|
|
Transaction Summary
|
|
|
|
|
|
|
Acquisitions
|
23
|
|
|
|
|
Dispositions
|
24
|
|
|
|
IPO Portfolio Summary
|
|
|
|
|
|
|
Portfolio Overview
|
26
|
|
|
|
|
Top Forty Retailers Ranked by ABR
|
27
|
|
|
|
|
New & Renewal Lease Summary
|
28
|
|
|
|
|
New Lease Net Effective Rent
|
29
|
|
|
|
|
Anchor Space Repositioning Summary
|
30
|
|
|
|
|
Lease Expiration Schedule
|
31
|
|
|
|
|
Redevelopment Summary
|
32
|
|
|
|
|
Properties by Largest US MSAs
|
33
|
|
|
|
|
Largest MSAs by ABR
|
35
|
|
|
|
|
Properties by State
|
38
|
|
|
|
|
Property List
|
39
|
|
|
|
Guidance
|
|
|
|
|
|
|
Guidance & Additional Disclosures
|
51
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
This presentation includes financial information for the Company’s actual results and the IPO portfolio on a pro forma basis giving effect to the Company’s initial public offering completed on November 4, 2013.
|
||||
|
|
|
|
|
|
|
Note: Financial information is unaudited.
|
|
|
||
|
For additional information visit: www.brixmor.com.
|
|
|
||
|
|
|
|
|
|
|
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, 2013 as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this document and in the Company’s filings with the SEC. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
|
||||
|
|||||
|
|||||
|
|||||
|
|||||
|
|||||
|
|||||
|
|
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
1
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
2
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
3
|
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|
|
|
|
|
FINANCIAL SUMMARY
|
||||||||||||||
|
|||||||||||||||
|
|||||||||||||||
|
|||||||||||||||
|
|
|
|
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|
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|
|
|
|
|
|
|
|
Supplemental Disclosure
Three Months Ended December 31, 2014
|
|
||||||||||||
|
|
|
|||||||||||||
|
|
|
|||||||||||||
|
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|
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|
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|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATED BALANCE SHEETS
|
|
|
|
|
|
|
||||||||||
Unaudited, dollars in thousands, except share information
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
|
|
|
Actual Results
|
|
Pro Forma
|
|
||||||||
|
|
|
|
|
12/31/14
|
|
12/31/13
|
|
12/31/13
|
|
||||||
|
Assets
|
|
|
|
|
|
|
|||||||||
|
|
Real estate
|
|
|
|
|
|
|
||||||||
|
|
|
Land
|
$
|
2,000,415
|
|
|
$
|
2,055,802
|
|
|
$
|
1,989,160
|
|
|
|
|
|
|
Buildings and improvements
|
8,801,834
|
|
|
8,781,926
|
|
|
8,654,899
|
|
|
||||
|
|
|
|
|
10,802,249
|
|
|
10,837,728
|
|
|
10,644,059
|
|
|
|||
|
|
|
Accumulated depreciation and amortization
|
(1,549,234
|
)
|
|
(1,190,170
|
)
|
|
(1,160,478
|
)
|
|
||||
|
|
Real estate, net
|
9,253,015
|
|
|
9,647,558
|
|
|
9,483,581
|
|
|
|||||
|
|
Investments in and advances to unconsolidated joint ventures
|
5,072
|
|
|
9,205
|
|
|
5,171
|
|
|
|||||
|
|
Cash and cash equivalents
|
60,595
|
|
|
113,915
|
|
|
95,332
|
|
|
|||||
|
|
Restricted cash
|
53,164
|
|
|
75,457
|
|
|
74,847
|
|
|
|||||
|
|
Marketable securities
|
20,315
|
|
|
22,104
|
|
|
22,104
|
|
|
|||||
|
|
Receivables, net
|
182,424
|
|
|
178,505
|
|
|
175,584
|
|
|
|||||
|
|
Deferred charges and prepaid expenses, net
|
114,758
|
|
|
105,522
|
|
|
103,237
|
|
|
|||||
|
|
Other assets
|
13,059
|
|
|
19,650
|
|
|
14,043
|
|
|
|||||
|
Total assets
|
$
|
9,702,402
|
|
|
$
|
10,171,916
|
|
|
$
|
9,973,899
|
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Liabilities
|
|
|
|
|
|
|
|||||||||
|
|
Debt obligations, net
|
$
|
6,042,997
|
|
|
$
|
5,981,289
|
|
|
$
|
5,965,307
|
|
|
||
|
|
Financing liabilities, net
|
—
|
|
|
175,111
|
|
|
175,111
|
|
|
|||||
|
|
Accounts payable, accrued expenses and other liabilities
|
679,102
|
|
|
709,529
|
|
|
701,495
|
|
|
|||||
|
Total liabilities
|
6,722,099
|
|
|
6,865,929
|
|
|
6,841,913
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Redeemable non-controlling interests
|
—
|
|
|
21,467
|
|
|
21,467
|
|
|
||||||
|
Commitments and contingencies
|
—
|
|
|
—
|
|
|
—
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Equity
|
|
|
|
|
|
|
|||||||||
|
|
Common stock, $0.01 par value; authorized 3,000,000,000 shares;
|
|
|
|
|
|
|
||||||||
|
|
|
296,552,142 and 229,689,960 shares outstanding
|
2,966
|
|
|
2,297
|
|
|
2,297
|
|
|
||||
|
|
Additional paid in capital
|
3,223,941
|
|
|
2,543,690
|
|
|
2,543,690
|
|
|
|||||
|
|
Accumulated other comprehensive loss
|
(4,435
|
)
|
|
(6,812
|
)
|
|
(6,812
|
)
|
|
|||||
|
|
Distributions and accumulated losses
|
(318,762
|
)
|
|
(196,707
|
)
|
|
(196,707
|
)
|
|
|||||
|
Total stockholders' equity
|
2,903,710
|
|
|
2,342,468
|
|
|
2,342,468
|
|
|
||||||
|
|
Non-controlling interests
|
76,593
|
|
|
942,052
|
|
|
768,051
|
|
|
|||||
|
Total equity
|
2,980,303
|
|
|
3,284,520
|
|
|
3,110,519
|
|
|
||||||
|
Total liabilities and equity
|
$
|
9,702,402
|
|
|
$
|
10,171,916
|
|
|
$
|
9,973,899
|
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
5
|
|
CONSOLIDATED STATEMENTS OF OPERATIONS
|
|
|
|
|
|
|
|
||||||||||||||||||||||||||||||
Unaudited, dollars in thousands, except per share amounts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
|
|
|
Pro Forma
|
|
|
Actual Results
|
|
|||||||||||||||||||||||||||||
|
|
|
|
|
Three Months Ended
|
|
Twelve Months Ended
|
|
|
Three Months Ended
|
|
Twelve Months Ended
|
|
||||||||||||||||||||||||
|
|
|
|
|
12/31/14
|
|
12/31/13
|
|
12/31/14
|
|
12/31/13
|
|
|
12/31/14
|
|
12/31/13
|
|
12/31/14
|
|
12/31/13
|
|
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
|
|
Rental income
|
$
|
242,740
|
|
|
$
|
238,399
|
|
|
$
|
960,715
|
|
|
$
|
940,313
|
|
|
|
$
|
242,740
|
|
|
$
|
233,643
|
|
|
$
|
960,715
|
|
|
$
|
887,466
|
|
|
||
|
|
Expense reimbursements
|
70,306
|
|
|
64,329
|
|
|
268,035
|
|
|
256,000
|
|
|
|
70,306
|
|
|
63,371
|
|
|
268,035
|
|
|
242,803
|
|
|
||||||||||
|
|
Other revenues
|
1,559
|
|
|
1,958
|
|
|
7,849
|
|
|
10,103
|
|
|
|
1,559
|
|
|
8,129
|
|
|
7,849
|
|
|
16,135
|
|
|
||||||||||
|
Total revenues
|
314,605
|
|
|
304,686
|
|
|
1,236,599
|
|
|
1,206,416
|
|
|
|
314,605
|
|
|
305,143
|
|
|
1,236,599
|
|
|
1,146,404
|
|
|
|||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
Operating expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
|
|
Operating costs
|
33,592
|
|
|
31,911
|
|
|
129,148
|
|
|
124,648
|
|
|
|
33,592
|
|
|
31,014
|
|
|
129,148
|
|
|
116,522
|
|
|
||||||||||
|
|
Real estate taxes
|
46,911
|
|
|
44,388
|
|
|
179,504
|
|
|
175,815
|
|
|
|
46,911
|
|
|
43,822
|
|
|
179,504
|
|
|
168,468
|
|
|
||||||||||
|
|
Depreciation and amortization
|
107,706
|
|
|
113,349
|
|
|
441,630
|
|
|
475,498
|
|
|
|
107,706
|
|
|
109,804
|
|
|
441,630
|
|
|
438,547
|
|
|
||||||||||
|
|
Provision for doubtful accounts
|
2,920
|
|
|
3,018
|
|
|
11,537
|
|
|
11,284
|
|
|
|
2,920
|
|
|
2,950
|
|
|
11,537
|
|
|
10,899
|
|
|
||||||||||
|
|
Impairment of real estate assets
|
—
|
|
|
—
|
|
|
—
|
|
|
1,531
|
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,531
|
|
|
||||||||||
|
|
General and administrative
|
20,954
|
|
|
18,435
|
|
|
80,175
|
|
|
83,070
|
|
|
|
20,954
|
|
|
55,403
|
|
|
80,175
|
|
|
121,082
|
|
|
||||||||||
|
Total operating expenses
|
212,083
|
|
|
211,101
|
|
|
841,994
|
|
|
871,846
|
|
|
|
212,083
|
|
|
242,993
|
|
|
841,994
|
|
|
857,049
|
|
|
|||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
Other income (expense)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
|
|
Dividends and interest
|
166
|
|
|
205
|
|
|
602
|
|
|
841
|
|
|
|
166
|
|
|
205
|
|
|
602
|
|
|
832
|
|
|
||||||||||
|
|
Interest expense
|
(63,348
|
)
|
|
(71,925
|
)
|
|
(262,812
|
)
|
|
(290,766
|
)
|
|
|
(63,348
|
)
|
|
(72,466
|
)
|
|
(262,812
|
)
|
|
(343,193
|
)
|
|
||||||||||
|
|
Gain (loss) on sale of real estate assets and acquisition
of joint venture interest
|
—
|
|
|
—
|
|
|
378
|
|
|
921
|
|
|
|
—
|
|
|
—
|
|
|
378
|
|
|
2,223
|
|
|
||||||||||
|
|
Loss on extinguishment of debt, net
|
(11,187
|
)
|
|
(2,384
|
)
|
|
(13,761
|
)
|
|
(1,620
|
)
|
|
|
(11,187
|
)
|
|
(2,279
|
)
|
|
(13,761
|
)
|
|
(20,028
|
)
|
|
||||||||||
|
|
Other
|
(3,098
|
)
|
|
67
|
|
|
(8,431
|
)
|
|
(5,179
|
)
|
|
|
(3,098
|
)
|
|
(3,210
|
)
|
|
(8,431
|
)
|
|
(11,014
|
)
|
|
||||||||||
|
Total other income (expense)
|
(77,467
|
)
|
|
(74,037
|
)
|
|
(284,024
|
)
|
|
(295,803
|
)
|
|
|
(77,467
|
)
|
|
(77,750
|
)
|
|
(284,024
|
)
|
|
(371,180
|
)
|
|
|||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
Income (loss) before equity in income of unconsolidated
joint ventures
|
25,055
|
|
|
19,548
|
|
|
110,581
|
|
|
38,767
|
|
|
|
25,055
|
|
|
(15,600
|
)
|
|
110,581
|
|
|
(81,825
|
)
|
|
|||||||||||
|
Equity in income of unconsolidated joint ventures
|
123
|
|
|
108
|
|
|
438
|
|
|
626
|
|
|
|
123
|
|
|
166
|
|
|
370
|
|
|
1,167
|
|
|
|||||||||||
|
Gain on disposition of investments in unconsolidated
joint ventures
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
|
—
|
|
|
—
|
|
|
1,820
|
|
|
—
|
|
|
|||||||||||
|
Income (loss) from continuing operations
|
25,178
|
|
|
19,656
|
|
|
111,019
|
|
|
39,393
|
|
|
|
25,178
|
|
|
(15,434
|
)
|
|
112,771
|
|
|
(80,658
|
)
|
|
|||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
Discontinued operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
|
|
Income (loss) from discontinued operations
|
26
|
|
|
36
|
|
|
122
|
|
|
(4
|
)
|
|
|
26
|
|
|
4,433
|
|
|
4,909
|
|
|
3,505
|
|
|
||||||||||
|
|
Gain on disposition of operating properties
|
745
|
|
|
—
|
|
|
745
|
|
|
—
|
|
|
|
745
|
|
|
761
|
|
|
15,171
|
|
|
3,392
|
|
|
||||||||||
|
|
Impairment of real estate held for sale
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
|
—
|
|
|
(1,799
|
)
|
|
—
|
|
|
(45,122
|
)
|
|
||||||||||
|
Income (loss) from discontinued operations
|
771
|
|
|
36
|
|
|
867
|
|
|
(4
|
)
|
|
|
771
|
|
|
3,395
|
|
|
20,080
|
|
|
(38,225
|
)
|
|
|||||||||||
|
Net income (loss)
|
25,949
|
|
|
19,692
|
|
|
111,886
|
|
|
39,389
|
|
|
|
25,949
|
|
|
(12,039
|
)
|
|
132,851
|
|
|
(118,883
|
)
|
|
|||||||||||
|
Net (income) loss attributable to non-controlling interests
|
(2,851
|
)
|
|
(5,080
|
)
|
|
(22,832
|
)
|
|
(10,675
|
)
|
|
|
(2,851
|
)
|
|
102
|
|
|
(43,849
|
)
|
|
25,349
|
|
|
|||||||||||
|
Net income (loss) attributable to Brixmor Property Group Inc.
|
23,098
|
|
|
14,612
|
|
|
89,054
|
|
|
28,714
|
|
|
|
23,098
|
|
|
(11,937
|
)
|
|
89,002
|
|
|
(93,534
|
)
|
|
|||||||||||
|
Preferred stock dividends
|
(150
|
)
|
|
—
|
|
|
(150
|
)
|
|
—
|
|
|
|
(150
|
)
|
|
(162
|
)
|
|
(150
|
)
|
|
(162
|
)
|
|
|||||||||||
|
Net income (loss) attributable to common stockholders
|
$
|
22,948
|
|
|
$
|
14,612
|
|
|
$
|
88,904
|
|
|
$
|
28,714
|
|
|
|
$
|
22,948
|
|
|
$
|
(12,099
|
)
|
|
$
|
88,852
|
|
|
$
|
(93,696
|
)
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
Per common share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
|
|
Income (loss) from continuing operations:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
|
|
|
Basic
|
$
|
0.08
|
|
|
$
|
0.06
|
|
|
$
|
0.36
|
|
|
$
|
0.13
|
|
|
|
$
|
0.08
|
|
|
$
|
(0.06
|
)
|
|
$
|
0.36
|
|
|
$
|
(0.33
|
)
|
|
|
|
|
|
Diluted
|
$
|
0.08
|
|
|
$
|
0.06
|
|
|
$
|
0.36
|
|
|
$
|
0.12
|
|
|
|
$
|
0.08
|
|
|
$
|
(0.06
|
)
|
|
$
|
0.36
|
|
|
$
|
(0.33
|
)
|
|
|
|
|
Net income (loss) attributable to common stockholders:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
|
|
|
Basic
|
$
|
0.08
|
|
|
$
|
0.06
|
|
|
$
|
0.36
|
|
|
$
|
0.12
|
|
|
|
$
|
0.08
|
|
|
$
|
(0.06
|
)
|
|
$
|
0.36
|
|
|
$
|
(0.50
|
)
|
|
|
|
|
|
Diluted
|
$
|
0.08
|
|
|
$
|
0.06
|
|
|
$
|
0.36
|
|
|
$
|
0.12
|
|
|
|
$
|
0.08
|
|
|
$
|
(0.06
|
)
|
|
$
|
0.36
|
|
|
$
|
(0.50
|
)
|
|
|
|
|
Weighted average number of vested common shares:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
|
|
|
Basic
|
271,904
|
|
|
228,113
|
|
|
243,390
|
|
|
228,113
|
|
|
|
271,904
|
|
|
213,675
|
|
|
243,390
|
|
|
188,993
|
|
|
|||||||||
|
|
|
Diluted
|
272,835
|
|
|
230,194
|
|
|
244,588
|
|
|
230,194
|
|
|
|
272,835
|
|
|
213,675
|
|
|
244,588
|
|
|
188,993
|
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
6
|
|
CONSOLIDATED STATEMENTS OF CASH FLOWS
|
|
|
|
|||||||||
Unaudited, dollars in thousands
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
Twelve Months Ended
|
|
||||||
|
|
|
|
|
12/31/14
|
|
12/31/2013
|
|
||||
|
Operating activities:
|
|
|
|
|
|||||||
|
Net income (loss)
|
$
|
132,851
|
|
|
$
|
(118,883
|
)
|
|
|||
|
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
|
|
|
|
|
|||||||
|
|
Depreciation and amortization
|
442,236
|
|
|
450,279
|
|
|
||||
|
|
Debt premium and discount amortization
|
(20,413
|
)
|
|
(20,973
|
)
|
|
||||
|
|
Deferred financing cost amortization
|
8,691
|
|
|
10,831
|
|
|
||||
|
|
Above- and below-market lease intangible amortization
|
(45,536
|
)
|
|
(51,379
|
)
|
|
||||
|
|
Provisions of impairment
|
—
|
|
|
46,653
|
|
|
||||
|
|
Gain on disposition of operating properties, disposition of investments in unconsolidated joint ventures
and acquisition of joint venture interest
|
(17,369
|
)
|
|
(5,615
|
)
|
|
||||
|
|
Equity based compensation
|
9,452
|
|
|
36,395
|
|
|
||||
|
|
Other
|
|
(325
|
)
|
|
(1,165
|
)
|
|
|||
|
|
(Gain) loss on extinguishment of debt, net
|
(245
|
)
|
|
16,498
|
|
|
||||
|
Changes in operating assets and liabilities:
|
|
|
|
|
|||||||
|
|
Restricted cash
|
16,920
|
|
|
5,562
|
|
|
||||
|
|
Receivables
|
(5,347
|
)
|
|
(17,055
|
)
|
|
||||
|
|
Deferred charges and prepaid expenses
|
(29,413
|
)
|
|
(22,826
|
)
|
|
||||
|
|
Other assets
|
409
|
|
|
2,901
|
|
|
||||
|
|
Accounts payable, accrued expenses and other liabilities
|
(12,701
|
)
|
|
767
|
|
|
||||
|
Net cash provided by operating activities
|
479,210
|
|
|
331,990
|
|
|
|||||
|
|
|
|
|
|
|
|
|
||||
|
Investing activities:
|
|
|
|
|
|||||||
|
|
Improvements to and investments in real estate assets
|
(214,678
|
)
|
|
(150,461
|
)
|
|
||||
|
|
Acquisitions of real estate assets
|
—
|
|
|
(6,377
|
)
|
|
||||
|
|
Proceeds from sales of real estate assets
|
6,835
|
|
|
58,994
|
|
|
||||
|
|
Distributions from unconsolidated joint ventures
|
454
|
|
|
593
|
|
|
||||
|
|
Contributions to unconsolidated joint ventures
|
—
|
|
|
(25
|
)
|
|
||||
|
|
Change in restricted cash attributable to investing activities
|
4,483
|
|
|
8,108
|
|
|
||||
|
|
Purchase of marketable securities
|
(23,123
|
)
|
|
(12,737
|
)
|
|
||||
|
|
Proceeds from sale of marketable securities
|
25,197
|
|
|
15,538
|
|
|
||||
|
Net cash used in investing activities
|
(200,832
|
)
|
|
(86,367
|
)
|
|
|||||
|
|
|
|
|
|
|
|
|
||||
|
Financing activities:
|
|
|
|
|
|||||||
|
|
Repayment of debt obligations and financing liabilities
|
(1,086,241
|
)
|
|
(2,702,931
|
)
|
|
||||
|
|
Proceeds from debt obligations
|
—
|
|
|
57,000
|
|
|
||||
|
|
Repayment of borrowings under unsecured revolving credit facility
|
(720,047
|
)
|
|
(914,108
|
)
|
|
||||
|
|
Proceeds from borrowings under unsecured credit facility
|
1,119,343
|
|
|
2,534,286
|
|
|
||||
|
|
Proceeds from unsecured term loan
|
600,000
|
|
|
—
|
|
|
||||
|
|
Deferred financing costs
|
(2,995
|
)
|
|
(27,529
|
)
|
|
||||
|
|
Proceeds from issuance of common stock
|
—
|
|
|
893,860
|
|
|
||||
|
|
Redemption of preferred stock
|
—
|
|
|
(1,250
|
)
|
|
||||
|
|
Distributions to common stockholders
|
(173,147
|
)
|
|
(47,442
|
)
|
|
||||
|
|
Distributions to non-controlling interests and other
|
(68,611
|
)
|
|
(26,692
|
)
|
|
||||
|
Net cash used in financing activities
|
(331,698
|
)
|
|
(234,806
|
)
|
|
|||||
|
Change in cash and cash equivalents
|
(53,320
|
)
|
|
10,817
|
|
|
|||||
|
Cash and cash equivalents at beginning of period
|
113,915
|
|
|
103,098
|
|
|
|||||
|
|
|
|
|
|
|
|
|
||||
|
Cash and cash equivalents at end of period
|
$
|
60,595
|
|
|
$
|
113,915
|
|
|
|||
|
|
|
|
|
|
|
|
|
||||
|
Supplemental non-cash investing and/or financing activities:
|
|
|
|
|
|||||||
|
|
Cash paid for interest, net of amount capitalized
|
$
|
282,639
|
|
|
$
|
342,950
|
|
|
||
|
|
Net carrying value of properties distributed to non-controlling owners
|
178,969
|
|
|
—
|
|
|
||||
|
|
Capitalized interest
|
4,047
|
|
|
4,968
|
|
|
||||
|
|
State and local taxes paid
|
1,889
|
|
|
2,013
|
|
|
||||
|
|
Fair value of OP Units issued for acquisition of real estate assets
|
—
|
|
|
317,556
|
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
7
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
8
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
9
|
|
SUPPLEMENTAL BALANCE SHEET DETAIL
|
|
|
|
|
|
|||||||||||
Unaudited, dollars in thousands
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
|
|
|
Actual Results
|
|
Pro Forma
|
|
||||||||
|
|
|
|
|
12/31/14
|
|
12/31/13
|
|
12/31/13
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Real estate, net
|
|
|
|
|
|
|
|||||||||
|
|
Land
|
$
|
2,000,415
|
|
|
$
|
2,055,802
|
|
|
$
|
1,989,160
|
|
|
||
|
|
Buildings and improvements
|
|
|
|
|
|
|
||||||||
|
|
|
Building
|
7,332,073
|
|
|
7,436,072
|
|
|
7,321,799
|
|
|
||||
|
|
|
Building and tenant improvements
|
522,601
|
|
|
346,521
|
|
|
357,814
|
|
|
||||
|
|
|
Construction in process (anchor space repositioning and redevelopment only)
|
29,750
|
|
|
27,386
|
|
|
27,386
|
|
|
||||
|
|
|
Lease intangibles
|
917,410
|
|
|
971,947
|
|
|
947,900
|
|
|
||||
|
|
|
|
|
10,802,249
|
|
|
10,837,728
|
|
|
10,644,059
|
|
|
|||
|
|
Accumulated depreciation and amortization
|
(1,549,234
|
)
|
|
(1,190,170
|
)
|
|
(1,160,478
|
)
|
|
|||||
|
|
|
Total real estate, net
|
$
|
9,253,015
|
|
|
$
|
9,647,558
|
|
|
$
|
9,483,581
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Receivables, net
|
|
|
|
|
|
|
|||||||||
|
|
Straight-line rent receivable
|
$
|
66,852
|
|
|
$
|
47,669
|
|
|
$
|
46,855
|
|
|
||
|
|
Tenant receivables
|
116,223
|
|
|
145,247
|
|
|
141,779
|
|
|
|||||
|
|
Allowance for doubtful accounts
|
(13,572
|
)
|
|
(30,190
|
)
|
|
(28,741
|
)
|
|
|||||
|
|
Other
|
12,921
|
|
|
15,779
|
|
|
15,691
|
|
|
|||||
|
|
Total receivables, net
|
$
|
182,424
|
|
|
$
|
178,505
|
|
|
$
|
175,584
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Deferred charges and prepaid expenses, net
|
|
|
|
|
|
|
|||||||||
|
|
Deferred charges, net
|
$
|
88,028
|
|
|
$
|
73,791
|
|
|
$
|
72,538
|
|
|
||
|
|
Prepaid expenses, net
|
26,730
|
|
|
31,731
|
|
|
30,699
|
|
|
|||||
|
|
Total deferred charges and prepaid expenses, net
|
$
|
114,758
|
|
|
$
|
105,522
|
|
|
$
|
103,237
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Other assets
|
|
|
|
|
|
|
|||||||||
|
|
Furniture, fixtures and leasehold improvements, net
|
$
|
10,921
|
|
|
$
|
10,591
|
|
|
$
|
10,591
|
|
|
||
|
|
Real estate assets held for sale
|
—
|
|
|
5,531
|
|
|
—
|
|
|
|||||
|
|
Other
|
2,138
|
|
|
3,528
|
|
|
3,452
|
|
|
|||||
|
|
Total other assets
|
$
|
13,059
|
|
|
$
|
19,650
|
|
|
$
|
14,043
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Accounts payable, accrued expenses and other liabilities
|
|
|
|
|
|
|
|||||||||
|
|
Accounts payable and accrued expenses
|
$
|
239,287
|
|
|
$
|
230,967
|
|
|
$
|
226,848
|
|
|
||
|
|
Dividends payable
|
68,821
|
|
|
38,637
|
|
|
38,637
|
|
|
|||||
|
|
Below market leases, net
|
325,935
|
|
|
388,176
|
|
|
385,097
|
|
|
|||||
|
|
Other
|
45,059
|
|
|
51,749
|
|
|
50,913
|
|
|
|||||
|
|
Total accounts payable, accrued expenses and other liabilities
|
$
|
679,102
|
|
|
$
|
709,529
|
|
|
$
|
701,495
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
10
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
11
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
12
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
13
|
|
CAPITALIZATION, LIQUIDITY & DEBT RATIOS
|
|
|
|
|||||||||||||
Unaudited, dollars in thousands
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
|
|
Actual Results
|
|
Pro Forma
|
|
|||||||||
|
|
|
|
|
12/31/14
|
|
12/31/13
|
|
12/31/13
|
|
||||||
|
Debt:
|
|
|
|
|
|
|
|
||||||||
|
|
Revolving credit facility
|
$
|
519,475
|
|
|
$
|
120,179
|
|
|
$
|
120,179
|
|
|
||
|
|
Term loans
|
2,100,000
|
|
|
1,500,000
|
|
|
1,500,000
|
|
|
|||||
|
|
Unsecured notes
|
243,453
|
|
|
353,619
|
|
|
353,619
|
|
|
|||||
|
|
Secured mortgages
|
3,116,882
|
|
|
3,928,182
|
|
|
3,911,381
|
|
|
|||||
|
|
Financial liabilities
|
—
|
|
|
172,689
|
|
|
172,689
|
|
|
|||||
|
Total principal debt
|
5,979,810
|
|
|
6,074,669
|
|
|
6,057,868
|
|
|
||||||
|
Add: Net unamortized premium
|
63,187
|
|
|
81,731
|
|
|
82,550
|
|
|
||||||
|
Total debt
|
6,042,997
|
|
|
6,156,400
|
|
|
6,140,418
|
|
|
||||||
|
Less: cash, cash equivalents and restricted cash
|
(113,759
|
)
|
|
(189,372
|
)
|
|
(170,179
|
)
|
|
||||||
|
Net debt
|
5,929,238
|
|
|
5,967,028
|
|
|
5,970,239
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Equity:
|
|
|
|
|
|
|
|
||||||||
|
|
Stockholders' equity
|
2,903,710
|
|
|
2,342,468
|
|
|
2,342,468
|
|
|
|||||
|
|
Non-controlling interests
|
76,593
|
|
|
942,052
|
|
|
768,051
|
|
|
|||||
|
Total equity
|
2,980,303
|
|
|
3,284,520
|
|
|
3,110,519
|
|
|
||||||
|
Total capitalization
|
$
|
8,909,541
|
|
|
$
|
9,251,548
|
|
|
$
|
9,080,758
|
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Outstanding classes of stock and partnership units:
|
|
|
|
|
|
|
|||||||||
|
|
Common shares outstanding
|
296,552
|
|
|
229,680
|
|
|
229,680
|
|
|
|||||
|
|
Exchangeable BPG Sub shares held by non-controlling interests
|
—
|
|
|
58,663
|
|
|
58,663
|
|
|
|||||
|
|
Exchangeable OP Units held by non-controlling interests
|
7,695
|
|
|
15,878
|
|
|
15,878
|
|
|
|||||
|
|
|
|
|
304,247
|
|
|
304,221
|
|
|
304,221
|
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Liquidity:
|
|
|
|
|
|
|
|||||||||
|
|
Cash and cash equivalents and restricted cash
|
$
|
113,759
|
|
|
$
|
189,372
|
|
|
$
|
170,179
|
|
|
||
|
|
Available under unsecured credit facility
|
730,525
|
|
|
1,129,821
|
|
|
1,129,821
|
|
|
|||||
|
|
|
|
|
$
|
844,284
|
|
|
$
|
1,319,193
|
|
|
$
|
1,300,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
|
|
|
Actual Results
|
|
Pro Forma
|
|
|
|
||||||
|
|
|
|
|
Three Months
|
|
Three Months
|
|
|
|
||||||
|
|
|
|
|
Ended 12/31/14
|
|
Ended 12/31/13
|
|
|
|
||||||
|
Ratios:
|
|
|
|
|
|
|
|
||||||||
|
|
Principal debt to total market capitalization (1)
|
44.2
|
%
|
|
49.3
|
%
|
|
|
|
||||||
|
|
Principal debt to total assets, before depreciation (consolidated portfolio only) (2)
|
53.1
|
%
|
|
53.2
|
%
|
|
|
|
||||||
|
|
Secured principal debt to total assets, before depreciation
|
27.7
|
%
|
|
35.1
|
%
|
|
|
|
||||||
|
|
Net principal debt to adjusted EBITDA (GAAP)
|
6.9x
|
|
|
7.1x
|
|
|
|
|
||||||
|
|
Net principal debt to adjusted EBITDA (cash)
|
7.5x
|
|
|
7.7x
|
|
|
|
|
||||||
|
|
Unencumbered assets to unsecured debt
|
2.0x
|
|
|
2.1x
|
|
|
|
|
||||||
|
|
Interest coverage (adjusted EBITDA / interest expense)
|
3.3x
|
|
|
2.9x
|
|
|
|
|
||||||
|
|
Debt service coverage (adjusted EBITDA / (interest expense + scheduled principal
payments))
|
3.0x
|
|
|
2.6x
|
|
|
|
|
||||||
|
|
Fixed charge coverage (adjusted EBITDA / (interest expense + scheduled principal
payments + preferred dividends))
|
3.0x
|
|
|
2.6x
|
|
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
|
|
|
Actual
|
|
|
|
|
|
||||||
|
|
|
|
|
12/31/14
|
|
|
|
|
|
||||||
|
|
Percentage of total debt:
|
|
|
|
|
|
|
||||||||
|
|
|
Fixed
|
81.3
|
%
|
|
|
|
|
|
||||||
|
|
|
Floating
|
18.7
|
%
|
|
|
|
|
|
||||||
|
|
Unencumbered summary:
|
|
|
|
|
|
|
||||||||
|
|
|
Percent of properties
|
51.0
|
%
|
|
|
|
|
|
||||||
|
|
|
Percent of NOI
|
50.4
|
%
|
|
|
|
|
|
||||||
|
|
Weighted average maturity (years):
|
|
|
|
|
|
|
||||||||
|
|
|
Fixed
|
3.16
|
|
|
|
|
|
|
||||||
|
|
|
Floating
|
3.46
|
|
|
|
|
|
|
||||||
|
|
|
Total
|
3.21
|
|
|
|
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
||||||
(1) Market capitalization based on the December 31, 2014 closing stock price of $24.84.
|
|
|
|
|
|
|
||||||||||
(2) Excludes Inland Preferred for the three months ended December 31, 2013.
|
|
|
|
|
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
14
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
15
|
|
SUMMARY OF OUTSTANDING DEBT
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Unaudited, dollars in thousands
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
Number of
|
|
Outstanding
|
|
Actual
|
|
Maturity
|
|
Percent of
|
|
|||||
|
Loan / Property Name
|
|
MSA
|
|
|
|
Properties
|
|
Balance
|
|
Interest Rate
|
|
Date
|
|
Total Indebtedness
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
FIXED RATE DEBT:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
Secured Mortgages
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
Eustis Village
|
|
Orlando-Kissimmee-Sanford, FL
|
|
|
1
|
|
|
$
|
12,092
|
|
|
5.45
|
%
|
|
5/11/15
|
|
0.20
|
%
|
|
|
|
|
Governors Town Square
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
1
|
|
|
9,343
|
|
|
5.20
|
%
|
|
6/1/15
|
|
0.16
|
%
|
|
|||
|
|
Turnpike Plaza
|
|
Hartford-West Hartford-East Hartford, CT
|
|
1
|
|
|
20,500
|
|
|
4.90
|
%
|
|
6/1/15
|
|
0.34
|
%
|
|
|||
|
|
Sarasota Village
|
|
North Port-Sarasota-Bradenton, FL
|
|
1
|
|
|
9,712
|
|
|
5.02
|
%
|
|
6/1/15
|
|
0.16
|
%
|
|
|||
|
|
Sunshine Square
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1
|
|
|
16,695
|
|
|
6.85
|
%
|
|
8/5/15
|
|
0.28
|
%
|
|
|||
|
|
Village West
|
|
Los Angeles-Long Beach-Anaheim, CA
|
|
1
|
|
|
12,647
|
|
|
5.25
|
%
|
|
8/5/15
|
|
0.21
|
%
|
|
|||
|
|
REIT 20 LP 208
|
|
—
|
|
|
|
18
|
|
|
208,000
|
|
|
5.17
|
%
|
|
9/1/15
|
|
3.48
|
%
|
|
|
|
|
Westminster City Center
|
|
Denver-Aurora-Lakewood, CO
|
|
|
1
|
|
|
47,000
|
|
|
5.17
|
%
|
|
9/1/15
|
|
0.79
|
%
|
|
||
|
|
Hillcrest
|
|
Spartanburg, SC
|
|
|
|
1
|
|
|
18,500
|
|
|
7.50
|
%
|
|
9/1/15
|
|
0.31
|
%
|
|
|
|
|
Hampton Village Centre
|
|
Detroit-Warren-Dearborn, MI
|
|
|
1
|
|
|
27,336
|
|
|
5.65
|
%
|
|
9/5/15
|
|
0.46
|
%
|
|
||
|
|
Wilmington Island
|
|
Savannah, GA
|
|
|
|
1
|
|
|
8,587
|
|
|
5.05
|
%
|
|
11/11/15
|
|
0.14
|
%
|
|
|
|
|
Streetsboro Crossing
|
|
Akron, OH
|
|
|
|
1
|
|
|
8,925
|
|
|
5.37
|
%
|
|
12/1/15
|
|
0.15
|
%
|
|
|
|
|
REIT 4 LP 169
|
|
—
|
|
|
|
22
|
|
|
152,548
|
|
|
5.62
|
%
|
|
1/1/16
|
|
2.55
|
%
|
|
|
|
|
South Plaza Shopping Center
|
|
California-Lexington Park, MD
|
|
|
1
|
|
|
15,206
|
|
|
5.42
|
%
|
|
1/11/16
|
|
0.25
|
%
|
|
||
|
|
REIT 5 LP 240
|
|
—
|
|
|
|
12
|
|
|
220,033
|
|
|
5.63
|
%
|
|
2/1/16
|
|
3.68
|
%
|
|
|
|
|
Chicopee Marketplace
|
|
Springfield, MA
|
|
|
|
1
|
|
|
17,415
|
|
|
5.97
|
%
|
|
6/1/16
|
|
0.29
|
%
|
|
|
|
|
Cobblestone Village I and II
|
|
Miami-Fort Lauderdale-West Palm Beach, FL
|
|
1
|
|
|
9,994
|
|
|
5.97
|
%
|
|
6/1/16
|
|
0.17
|
%
|
|
|||
|
|
Springdale
|
|
Mobile, AL
|
|
|
|
1
|
|
|
36,907
|
|
|
5.97
|
%
|
|
6/1/16
|
|
0.62
|
%
|
|
|
|
|
Wilkes-Barre Township Marketplace
|
|
Scranton--Wilkes-Barre--Hazleton, PA
|
|
1
|
|
|
10,613
|
|
|
5.97
|
%
|
|
6/1/16
|
|
0.18
|
%
|
|
|||
|
|
Fashion Square
|
|
Jacksonville, FL
|
|
|
|
1
|
|
|
7,517
|
|
|
5.97
|
%
|
|
6/1/16
|
|
0.13
|
%
|
|
|
|
|
REIT 7 LP 86
|
|
—
|
|
|
|
7
|
|
|
86,000
|
|
|
6.32
|
%
|
|
8/1/16
|
|
1.44
|
%
|
|
|
|
|
REIT 16 LP 220
|
|
—
|
|
|
|
14
|
|
|
220,936
|
|
|
5.39
|
%
|
|
11/1/16
|
|
3.69
|
%
|
|
|
|
|
REIT 14 LP 226
|
|
—
|
|
|
|
15
|
|
|
226,109
|
|
|
5.44
|
%
|
|
12/1/16
|
|
3.78
|
%
|
|
|
|
|
REIT 15 LP 233
|
|
—
|
|
|
|
15
|
|
|
233,977
|
|
|
5.44
|
%
|
|
12/9/16
|
|
3.91
|
%
|
|
|
|
|
Dublin Village
|
|
Dublin, GA
|
|
|
|
1
|
|
|
6,325
|
|
|
5.78
|
%
|
|
12/11/16
|
|
0.11
|
%
|
|
|
|
|
Conyers Plaza I *
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
1
|
|
|
10,800
|
|
|
5.77
|
%
|
|
1/1/17
|
|
0.18
|
%
|
|
|||
|
|
Freshwater - Stateline Plaza
|
|
Hartford-West Hartford-East Hartford, CT
|
|
1
|
|
|
17,936
|
|
|
8.00
|
%
|
|
2/1/17
|
|
0.30
|
%
|
|
|||
|
|
Greensboro Village
|
|
Nashville-Davidson--Murfreesboro--Franklin, TN
|
|
1
|
|
|
8,954
|
|
|
5.52
|
%
|
|
2/11/17
|
|
0.15
|
%
|
|
|||
|
|
LP - JPM 300
|
|
—
|
|
|
|
18
|
|
|
292,586
|
|
|
6.38
|
%
|
|
9/1/17
|
|
4.89
|
%
|
|
|
|
|
Whitaker Square
|
|
Winston-Salem, NC
|
|
|
|
1
|
|
|
9,159
|
|
|
6.32
|
%
|
|
12/1/17
|
|
0.15
|
%
|
|
|
|
|
Christmas Tree Plaza
|
|
New Haven-Milford, CT
|
|
|
|
1
|
|
|
3,731
|
|
|
7.89
|
%
|
|
5/11/18
|
|
0.06
|
%
|
|
|
|
|
LP - JPM CMBS
|
|
—
|
|
|
|
72
|
|
|
548,351
|
|
|
6.77
|
%
|
|
8/1/20
|
|
9.17
|
%
|
|
|
|
|
Monroe ShopRite Plaza
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1
|
|
|
8,442
|
|
|
6.50
|
%
|
|
8/1/20
|
|
0.14
|
%
|
|
|||
|
|
Bethel Park
|
|
Pittsburgh, PA
|
|
|
|
1
|
|
|
9,810
|
|
|
6.50
|
%
|
|
8/1/20
|
|
0.16
|
%
|
|
|
|
|
Ivyridge
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
|
1
|
|
|
13,684
|
|
|
6.50
|
%
|
|
8/1/20
|
|
0.23
|
%
|
|
|||
|
|
Roosevelt Mall
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
|
1
|
|
|
48,782
|
|
|
6.50
|
%
|
|
8/1/20
|
|
0.82
|
%
|
|
|||
|
|
Inland (Brixmor/IA, LLC) - Pool A
|
|
—
|
|
|
|
9
|
|
|
101,553
|
|
|
5.91
|
%
|
|
12/6/20
|
|
1.70
|
%
|
|
|
|
|
Inland (Brixmor/IA, LLC) - Pool B
|
|
—
|
|
|
|
8
|
|
|
93,011
|
|
|
5.91
|
%
|
|
12/6/20
|
|
1.56
|
%
|
|
|
|
|
Inland (Brixmor/IA, LLC) - Pool C
|
|
—
|
|
|
|
7
|
|
|
99,652
|
|
|
5.91
|
%
|
|
12/31/20
|
|
1.67
|
%
|
|
|
|
|
REIT 20 LP 51 A
|
|
—
|
|
|
|
4
|
|
|
48,153
|
|
|
6.24
|
%
|
|
1/6/21
|
|
0.81
|
%
|
|
|
|
|
REIT 20 LP 45 B
|
|
—
|
|
|
|
4
|
|
|
43,293
|
|
|
6.24
|
%
|
|
1/6/21
|
|
0.72
|
%
|
|
|
|
|
REIT 20 LP 42 C
|
|
—
|
|
|
|
5
|
|
|
40,473
|
|
|
6.24
|
%
|
|
1/6/21
|
|
0.68
|
%
|
|
|
|
|
REIT 20 LP 37 D
|
|
—
|
|
|
|
3
|
|
|
34,951
|
|
|
6.24
|
%
|
|
1/6/21
|
|
0.58
|
%
|
|
|
|
|
REIT 20 LP 43 E
|
|
—
|
|
|
|
4
|
|
|
40,644
|
|
|
6.24
|
%
|
|
1/6/21
|
|
0.68
|
%
|
|
|
|
|
TOTAL FIXED RATE SECURED MORTGAGES
|
|
|
|
|
|
|
|
3,116,882
|
|
|
5.96
|
%
|
|
|
|
52.12
|
%
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
16
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
17
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
18
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
19
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
20
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
21
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
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|
|
|
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|
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|
|
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|
|
|
|
|
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|
|
|
|
|
|
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|
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|
|
|
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|
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|
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|
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|
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|
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|
|
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|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TRANSACTION SUMMARY
|
||||||||||||||
|
|||||||||||||||
|
|||||||||||||||
|
|||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosure
Three Months Ended December 31, 2014
|
|
||||||||||||
|
|
|
|||||||||||||
|
|
|
|||||||||||||
|
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|
|||||||||||||
|
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|
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|
|
|
|
|
|
|
ACQUISITIONS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Dollars in thousands
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
There were no acquisitions during the twelve months ended December 31, 2014.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
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Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
23
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Supplemental Disclosure - Three Months Ended December 31, 2014
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Page
24
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|
|
IPO PORTFOLIO SUMMARY
|
|||||||||||||
|
||||||||||||||
|
||||||||||||||
|
||||||||||||||
|
|
|
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|
|
Supplemental Disclosure
Three Months Ended December 31, 2014
|
||||||||||||
|
|
|||||||||||||
|
|
|||||||||||||
|
|
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|
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|
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|
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|
|
|
|
|
|
|
|
|
|
|
|
Joint venture, Montecito Marketplace is included at 100%
|
|
PORTFOLIO OVERVIEW
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
|
|
|
|
As of:
|
|
|
|
|
|||||||||||||||||||||
|
|
|
|
|
12/31/14
|
|
9/30/14
|
|
6/30/14
|
|
3/31/14
|
|
12/31/13
|
|
|
|
|
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Number of properties
|
|
|
521
|
|
|
522
|
|
|
522
|
|
|
522
|
|
|
522
|
|
|
|
|
|
|||||||||
|
GLA
|
|
|
86,828,506
|
|
|
86,769,179
|
|
|
86,764,493
|
|
|
86,718,016
|
|
|
86,806,352
|
|
|
|
|
|
|||||||||
|
Percent leased
|
|
|
92.8
|
%
|
|
92.7
|
%
|
|
92.5
|
%
|
|
92.3
|
%
|
|
92.4
|
%
|
|
|
|
|
|||||||||
|
|
TOTAL ≥ 10,000 SF
|
|
|
97.1
|
%
|
|
97.0
|
%
|
|
97.0
|
%
|
|
96.7
|
%
|
|
97.1
|
%
|
|
|
|
|
||||||||
|
|
TOTAL < 10,000 SF
|
|
|
82.6
|
%
|
|
82.6
|
%
|
|
82.1
|
%
|
|
81.9
|
%
|
|
81.6
|
%
|
|
|
|
|
||||||||
|
Percent billed
|
|
|
91.3
|
%
|
|
90.8
|
%
|
|
90.5
|
%
|
|
90.5
|
%
|
|
90.7
|
%
|
|
|
|
|
|||||||||
|
ABR
|
|
|
|
$
|
915,619,305
|
|
|
$
|
910,849,214
|
|
|
$
|
903,423,457
|
|
|
$
|
898,961,821
|
|
|
$
|
895,080,953
|
|
|
|
|
|
|||
|
ABR/SF
|
|
|
$
|
12.14
|
|
|
$
|
12.10
|
|
|
$
|
12.04
|
|
|
$
|
12.01
|
|
|
$
|
11.93
|
|
|
|
|
|
||||
|
Percent grocery anchored
|
|
|
71
|
%
|
|
70
|
%
|
|
70
|
%
|
|
70
|
%
|
|
70
|
%
|
|
|
|
|
|||||||||
|
Percent community shopping centers
|
|
63
|
%
|
|
63
|
%
|
|
63
|
%
|
|
63
|
%
|
|
63
|
%
|
|
|
|
|
||||||||||
|
Percent neighborhood shopping centers
|
|
37
|
%
|
|
37
|
%
|
|
37
|
%
|
|
37
|
%
|
|
37
|
%
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
PORTFOLIO BY UNIT SIZE AS OF 12/31/14
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
|
Number of
Units
|
|
GLA
|
|
Percent Leased
|
|
Percent Billed
|
|
Percent of Vacant GLA
|
|
ABR
|
|
ABR/SF
|
|
|
|||||||||||||
|
|
≥ 35,000 SF
|
580
|
|
|
36,191,704
|
|
|
98.7
|
%
|
|
98.0
|
%
|
|
7.6
|
%
|
|
$
|
273,657,310
|
|
|
$
|
8.62
|
|
|
|
||||
|
|
20,000 – 34,999 SF
|
558
|
|
|
14,704,352
|
|
|
96.6
|
%
|
|
94.7
|
%
|
|
8.1
|
%
|
|
132,333,693
|
|
|
9.47
|
|
|
|
||||||
|
|
10,000 - 19,999 SF
|
730
|
|
|
9,916,157
|
|
|
92.4
|
%
|
|
89.4
|
%
|
|
12.1
|
%
|
|
110,476,988
|
|
|
12.39
|
|
|
|
||||||
|
|
5,000 - 9,999 SF
|
1,382
|
|
|
9,524,928
|
|
|
85.0
|
%
|
|
82.5
|
%
|
|
22.9
|
%
|
|
119,979,934
|
|
|
15.49
|
|
|
|
||||||
|
|
< 5,000 SF
|
8,013
|
|
|
16,491,365
|
|
|
81.3
|
%
|
|
79.5
|
%
|
|
49.3
|
%
|
|
279,171,380
|
|
|
21.38
|
|
|
|
||||||
|
|
TOTAL
|
11,263
|
|
|
86,828,506
|
|
|
92.8
|
%
|
|
91.3
|
%
|
|
100.0
|
%
|
|
$
|
915,619,305
|
|
|
$
|
12.14
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
|
TOTAL ≥ 10,000 SF
|
1,868
|
|
|
60,812,213
|
|
|
97.1
|
%
|
|
95.8
|
%
|
|
27.8
|
%
|
|
$
|
516,467,991
|
|
|
$
|
9.45
|
|
|
|
||||
|
|
TOTAL < 10,000 SF
|
9,395
|
|
|
26,016,293
|
|
|
82.6
|
%
|
|
80.6
|
%
|
|
72.2
|
%
|
|
399,151,314
|
|
|
19.19
|
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
26
|
|
TOP FORTY RETAILERS RANKED BY ABR
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
|
Retailer
|
|
|
|
Owned Leases
|
|
GLA
|
|
Percent of
Portfolio GLA
|
|
ABR
|
|
Percent of
Portfolio ABR
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
1
|
The Kroger Co. (1)
|
|
|
|
68
|
|
|
4,366,884
|
|
|
5.0
|
%
|
|
$
|
30,164,951
|
|
|
3.3
|
%
|
|
|
|
2
|
The TJX Companies, Inc. (2)
|
|
|
93
|
|
|
2,966,734
|
|
|
3.4
|
%
|
|
28,975,579
|
|
|
3.2
|
%
|
|
||
|
|
3
|
Wal-Mart Stores, Inc. (3)
|
|
|
|
29
|
|
|
3,523,320
|
|
|
4.1
|
%
|
|
17,132,841
|
|
|
1.9
|
%
|
|
|
|
|
4
|
Publix Super Markets, Inc. (4)
|
|
|
39
|
|
|
1,801,416
|
|
|
2.1
|
%
|
|
16,650,717
|
|
|
1.8
|
%
|
|
||
|
|
5
|
Dollar Tree Stores, Inc. (5)
|
|
|
|
130
|
|
|
1,491,921
|
|
|
1.7
|
%
|
|
15,194,586
|
|
|
1.7
|
%
|
|
|
|
|
6
|
Ahold USA, Inc. (6)
|
|
|
|
21
|
|
|
1,259,102
|
|
|
1.5
|
%
|
|
14,064,340
|
|
|
1.5
|
%
|
|
|
|
|
7
|
Sears Holdings Corporation (7)
|
|
|
26
|
|
|
2,400,905
|
|
|
2.8
|
%
|
|
10,367,548
|
|
|
1.1
|
%
|
|
||
|
|
8
|
Office Depot, Inc. (8)
|
|
|
|
41
|
|
|
940,798
|
|
|
1.1
|
%
|
|
9,926,883
|
|
|
1.1
|
%
|
|
|
|
|
9
|
PetSmart, Inc.
|
|
|
|
31
|
|
|
678,994
|
|
|
0.8
|
%
|
|
9,578,526
|
|
|
1.0
|
%
|
|
|
|
|
10
|
Bed Bath & Beyond Inc. (9)
|
|
|
|
31
|
|
|
754,873
|
|
|
0.9
|
%
|
|
9,390,742
|
|
|
1.0
|
%
|
|
|
|
|
|
TOP 10 RETAILERS
|
|
|
|
509
|
|
|
20,184,947
|
|
|
23.2
|
%
|
|
161,446,714
|
|
|
17.6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
11
|
Ross Stores, Inc. (10)
|
|
|
|
30
|
|
|
844,474
|
|
|
1.0
|
%
|
|
9,118,572
|
|
|
1.0
|
%
|
|
|
|
|
12
|
Best Buy Co., Inc.
|
|
|
|
16
|
|
|
660,392
|
|
|
0.8
|
%
|
|
8,778,043
|
|
|
1.0
|
%
|
|
|
|
|
13
|
Burlington Stores, Inc.
|
|
|
|
16
|
|
|
1,220,369
|
|
|
1.4
|
%
|
|
8,553,421
|
|
|
0.9
|
%
|
|
|
|
|
14
|
Big Lots, Inc.
|
|
|
|
45
|
|
|
1,448,043
|
|
|
1.7
|
%
|
|
8,525,582
|
|
|
0.9
|
%
|
|
|
|
|
15
|
Safeway Inc. (11)
|
|
|
|
15
|
|
|
826,323
|
|
|
1.0
|
%
|
|
8,164,737
|
|
|
0.9
|
%
|
|
|
|
|
16
|
Staples, Inc.
|
|
|
|
31
|
|
|
680,559
|
|
|
0.8
|
%
|
|
7,625,640
|
|
|
0.8
|
%
|
|
|
|
|
17
|
Kohl's Corporation
|
|
|
|
12
|
|
|
1,002,715
|
|
|
1.2
|
%
|
|
7,269,745
|
|
|
0.8
|
%
|
|
|
|
|
18
|
PETCO Animal Supplies, Inc. (12)
|
|
|
34
|
|
|
462,905
|
|
|
0.5
|
%
|
|
7,077,644
|
|
|
0.8
|
%
|
|
||
|
|
19
|
DICK'S Sporting Goods, Inc. (13)
|
|
|
12
|
|
|
492,031
|
|
|
0.6
|
%
|
|
6,400,866
|
|
|
0.7
|
%
|
|
||
|
|
20
|
Hobby Lobby Stores, Inc.
|
|
|
|
16
|
|
|
943,615
|
|
|
1.1
|
%
|
|
6,178,498
|
|
|
0.7
|
%
|
|
|
|
|
|
TOP 20 RETAILERS
|
|
|
|
736
|
|
|
28,766,373
|
|
|
33.1
|
%
|
|
239,139,462
|
|
|
26.1
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
21
|
Bi-Lo Holdings, LLC (14)
|
|
|
|
17
|
|
|
791,373
|
|
|
0.9
|
%
|
|
5,976,067
|
|
|
0.7
|
%
|
|
|
|
|
22
|
Ascena Retail Group, Inc. (15)
|
|
|
55
|
|
|
336,568
|
|
|
0.4
|
%
|
|
5,846,125
|
|
|
0.6
|
%
|
|
||
|
|
23
|
L.A. Fitness International, LLC
|
|
|
9
|
|
|
390,095
|
|
|
0.4
|
%
|
|
5,811,724
|
|
|
0.6
|
%
|
|
||
|
|
24
|
The Home Depot, Inc.
|
|
|
|
8
|
|
|
799,388
|
|
|
0.9
|
%
|
|
5,544,521
|
|
|
0.6
|
%
|
|
|
|
|
25
|
Michaels Stores, Inc.
|
|
|
|
24
|
|
|
531,124
|
|
|
0.6
|
%
|
|
5,533,134
|
|
|
0.6
|
%
|
|
|
|
|
26
|
H.E. Butt Grocery Company (16)
|
|
|
8
|
|
|
510,551
|
|
|
0.6
|
%
|
|
5,471,054
|
|
|
0.6
|
%
|
|
||
|
|
27
|
Party City Corporation
|
|
|
|
32
|
|
|
395,165
|
|
|
0.5
|
%
|
|
5,407,110
|
|
|
0.6
|
%
|
|
|
|
|
28
|
Giant Eagle, Inc. (17)
|
|
|
|
7
|
|
|
555,560
|
|
|
0.6
|
%
|
|
5,126,734
|
|
|
0.6
|
%
|
|
|
|
|
29
|
CVS Health
|
|
|
|
24
|
|
|
313,940
|
|
|
0.4
|
%
|
|
5,070,012
|
|
|
0.6
|
%
|
|
|
|
|
30
|
Stage Stores, Inc. (18)
|
|
|
|
34
|
|
|
805,812
|
|
|
0.9
|
%
|
|
4,923,854
|
|
|
0.5
|
%
|
|
|
|
|
31
|
Walgreen Co.
|
|
|
|
21
|
|
|
300,253
|
|
|
0.3
|
%
|
|
4,835,891
|
|
|
0.5
|
%
|
|
|
|
|
32
|
Albertsons LLC (19)
|
|
|
|
8
|
|
|
456,420
|
|
|
0.5
|
%
|
|
4,765,623
|
|
|
0.5
|
%
|
|
|
|
|
33
|
Barnes & Noble, Inc.
|
|
|
|
12
|
|
|
258,663
|
|
|
0.3
|
%
|
|
4,459,215
|
|
|
0.5
|
%
|
|
|
|
|
34
|
The Great Atlantic & Pacific Tea Company (20)
|
|
|
7
|
|
|
330,480
|
|
|
0.4
|
%
|
|
4,396,267
|
|
|
0.5
|
%
|
|
||
|
|
35
|
Toys"R"US, Inc. (21)
|
|
|
|
13
|
|
|
477,284
|
|
|
0.5
|
%
|
|
4,244,320
|
|
|
0.5
|
%
|
|
|
|
|
36
|
Jo-Ann Stores, Inc.
|
|
|
|
22
|
|
|
422,528
|
|
|
0.5
|
%
|
|
4,173,016
|
|
|
0.5
|
%
|
|
|
|
|
37
|
Wakefern Food Corporation (22)
|
|
|
7
|
|
|
354,575
|
|
|
0.4
|
%
|
|
4,064,206
|
|
|
0.4
|
%
|
|
||
|
|
38
|
Sally Beauty Holdings, Inc.
|
|
|
|
117
|
|
|
196,275
|
|
|
0.2
|
%
|
|
4,063,434
|
|
|
0.4
|
%
|
|
|
|
|
39
|
Payless ShoeSource
|
|
|
|
68
|
|
|
209,597
|
|
|
0.2
|
%
|
|
4,031,342
|
|
|
0.4
|
%
|
|
|
|
|
40
|
JPMorgan Chase & Co.
|
|
|
|
31
|
|
|
111,775
|
|
|
0.1
|
%
|
|
4,015,057
|
|
|
0.4
|
%
|
|
|
|
|
|
TOTAL TOP 40 RETAILERS
|
|
|
1,260
|
|
|
37,313,799
|
|
|
43.0
|
%
|
|
$
|
336,898,168
|
|
|
36.8
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
|
Impact of Pending Transactions:
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
|
Safeway Inc. and Albertsons LLC merger
|
|
|
22
|
|
|
1,229,625
|
|
|
2.0
|
%
|
|
$
|
12,245,416
|
|
|
1.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
(1) Includes Kroger (54), Harris Teeter (3), King Soopers (3), Ralphs (3), Smith's (2),
|
|
(8) Includes Office Depot (22) and OfficeMax (19).
|
|
|
|
(16) Includes H-E-B (7) and Central Market (1).
|
|
|||||||||||||||
Dillons (1), Food 4 Less (1) and Pay Less (1).
|
|
|
(9) Includes Bed Bath & Beyond (17), Harmon Face Values (6), Christmas Tree
|
|
(17) Includes Giant Eagle (6) and Good Cents Grocery + More (1).
|
|||||||||||||||||
(2) Includes T.J. Maxx (50), Marshalls (35) and HomeGoods (8).
|
|
Shops (4), World Market (3) and buybuy BABY (1).
|
|
|
|
(18) Includes Bealls Outlet (12), Peebles (9), Bealls (6), Palais Royal (3),
|
||||||||||||||||
(3) Includes Supercenters (14), Discount Stores (9), Walmart Neighborhood
|
|
(10) Includes Ross Dress for Less (29) and dd's Discounts (1).
|
|
|
Goody's (2), Stage (1) and Steele's and Deals (1).
|
|
||||||||||||||||
Market (5) and Sam's Club (1).
|
|
|
|
(11) Includes Vons (5), Randalls (4), Dominick's (3) and Tom Thumb (3).
|
|
(19) Includes Shaw's (3), Albertsons (2), Jewel-Osco (2) and Acme (1).
|
||||||||||||||||
(4) Includes Publix (38) and Publix Sabor (1).
|
|
|
(12) Includes PETCO (33) and Unleashed (1).
|
|
|
|
(20) Includes A&P (3), Pathmark (2), Superfresh (1) and Waldbaum's (1).
|
|||||||||||||||
(5) Includes Dollar Tree (126), Deals (3) and Dollar Stop (1).
|
|
|
(13) Includes DICK'S Sporting Goods (9) and Golf Galaxy (3).
|
|
|
(21) Includes Babies"R"Us (8) and Toys"R"Us (5).
|
|
|||||||||||||||
(6) Includes Giant Food (10), Super Stop & Shop (7), Martin's Food Markets (2),
|
|
(14) Includes Winn-Dixie (9), BI-LO (5) and Harveys (3).
|
|
|
|
(22) Includes ShopRite (4) and PriceRite (3).
|
|
|||||||||||||||
Stop & Shop (1) and Tops (1).
|
|
|
|
(15) Includes dressbarn (24), Catherines (11), Lane Bryant (8), Justice (7) and
|
|
|
|
|
|
|||||||||||||
(7) Includes Kmart (23), Sears (2) and Sears Outlet (1).
|
|
|
maurices (5).
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
27
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
28
|
|
NEW LEASE NET EFFECTIVE RENT
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
Twelve Months Ended
|
|
Three Months Ended
|
|
||||||||||||||||
|
|
|
|
12/31/14
|
|
12/31/14
|
|
9/30/14
|
|
6/30/14
|
|
3/31/14
|
|
||||||||||
|
NEW LEASES
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Weighted average over lease term:
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
|
Base rent
|
|
$
|
14.04
|
|
|
$
|
14.12
|
|
|
$
|
13.78
|
|
|
$
|
13.00
|
|
|
$
|
15.81
|
|
|
|
|
TI/TA allowance
|
|
(2.16
|
)
|
|
(2.20
|
)
|
|
(2.18
|
)
|
|
(2.15
|
)
|
|
(2.10
|
)
|
|
|||||
|
|
Landlord work
|
|
(0.39
|
)
|
|
(0.45
|
)
|
|
(0.27
|
)
|
|
(0.37
|
)
|
|
(0.50
|
)
|
|
|||||
|
|
Third party leasing commissions
|
|
(0.35
|
)
|
|
(0.40
|
)
|
|
(0.37
|
)
|
|
(0.27
|
)
|
|
(0.38
|
)
|
|
|||||
|
|
Rent concessions
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
|||||
|
EQUIVALENT NET EFFECTIVE RENT
|
|
$
|
11.14
|
|
|
$
|
11.07
|
|
|
$
|
10.96
|
|
|
$
|
10.21
|
|
|
$
|
12.83
|
|
|
|
|
Net effective rent / base rent
|
|
79
|
%
|
|
78
|
%
|
|
80
|
%
|
|
79
|
%
|
|
81
|
%
|
|
||||||
|
Weighted average term (years)
|
|
8.3
|
|
|
8.1
|
|
|
8.6
|
|
|
8.9
|
|
|
7.2
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
PERCENT OF TOTAL EQUIVALENT NET EFFECTIVE RENT BY ANCHOR AND SMALL SHOP
|
|
|
|
|
|
|||||||||||||||||
|
|
≥ 10,000 SF
|
|
37
|
%
|
|
45
|
%
|
|
42
|
%
|
|
38
|
%
|
|
20
|
%
|
|
|||||
|
|
< 10,000 SF
|
|
63
|
%
|
|
55
|
%
|
|
58
|
%
|
|
62
|
%
|
|
80
|
%
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
29
|
|
ANCHOR SPACE REPOSITIONING SUMMARY
|
|||||||||||||||||
Dollars in thousands
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
Property Name
|
|
|
MSA
|
|
|
|
|
|
|
Description
|
|
||||
|
|
IN PROCESS ANCHOR SPACE REPOSITIONINGS
|
|
|
|
|
|
|
|||||||||
|
1
|
|
California Oaks Center
|
|
Riverside-San Bernardino-Ontario, CA
|
|
|
Remerchandise former Ralphs with a 19K SF Barons Market
|
|
||||||||
|
2
|
|
Stratford Square
|
|
Bridgeport-Stamford-Norwalk, CT
|
|
|
Reconfigure former movie theatre with a 49K SF LA Fitness
|
|
||||||||
|
3
|
|
Marketplace at Wycliffe
|
|
Miami-Fort Lauderdale-West Palm Beach, FL
|
|
|
Remerchandise former Winn-Dixie with a 45K SF Walmart Neighborhood Market
|
|
||||||||
|
4
|
|
Park Shore Shopping Center
|
|
Naples-Immokalee-Marco Island, FL
|
|
|
Remerchandise former Kmart with a 60K SF Burlington Coat Factory, an additional 35K SF junior anchor and a 5K SF small shop space
|
|
||||||||
|
5
|
|
Pointe Orlando
|
|
Orlando-Kissimmee-Sanford, FL
|
|
|
|
Addition of a 7K SF Blue Martini Lounge, a 6K SF RA Sushi and a 3K SF Minus 5 Ice Bar
|
|
|||||||
|
6
|
|
Panama City Square
|
|
Panama City, FL
|
|
|
|
|
|
Remerchandise former Michaels with a 28K SF Harbor Freight Tools
|
|
|||||
|
7
|
|
Mansell Crossing
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
|
Remerchandise former OfficeMax with a 24K SF REI
|
|
||||||||
|
8
|
|
The Village at Mableton
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
|
Remerchandise former Shoppes at Mableton with a 30K SF Ollie's Bargain Outlet
|
|
||||||||
|
9
|
|
Wilmington Island
|
|
Savannah, GA
|
|
|
|
|
|
|
Reconfigure junior anchor and small shop space to accommodate expansion of existing Kroger to 75K SF prototype store and addition of Kroger fuel center
|
|
||||
|
10
|
|
The Commons of Crystal Lake
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
|
|
Remerchandise former Marshalls and Toys R Us with a 58K SF Burlington Coat Factory
|
|
||||||||
|
11
|
|
Westview Center
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
|
|
Relocation and expansion of existing Dollar Tree to 17K SF and rightsizing of Premiere Furniture to 12K SF to accommodate a 22K SF Sears Home Outlet
|
|
|||||||
|
12
|
|
Karam Shopping Center
|
|
Lafayette, LA
|
|
|
|
|
|
|
Remerchandise former Conn's with a 21K SF dd's Discount (Ross Dress for Less)
|
|
||||
|
13
|
|
West Ridge
|
|
|
Detroit-Warren-Dearborn, MI
|
|
|
|
|
Remerchandise former Tile Shop with a 25K SF Bed Bath & Beyond
|
|
|||||
|
14
|
|
Ellisville Square
|
|
St. Louis, MO-IL
|
|
|
|
|
|
Remerchandise former Kmart with a 40K SF Sports Authority, a 19K SF Michaels, a 16K SF Party City and a 4K SF outparcel
|
|
|||||
|
15
|
|
Hamilton Plaza-Kmart Plaza
|
|
Trenton, NJ
|
|
|
|
|
|
|
Reconfigure former Acme with a 19K SF Planet Fitness and a 13K SF Hibachi Grill
|
|
||||
|
16
|
|
Kmart Plaza
|
|
|
Syracuse, NY
|
|
|
|
|
|
|
Remerchandise former Kmart with a 50K SF Dick's Sporting Goods, an additional 34K SF junior anchor, a 7K SF small shop space and a 6K SF outparcel
|
|
|||
|
17
|
|
McMullen Creek Market
|
|
Charlotte-Concord-Gastonia, NC-SC
|
|
|
Reconfigure 25K SF Staples and adjacent vacant junior anchor with a 45K SF Walmart Neighborhood Market and relocate existing 6K SF Lebo's Footwear to enable rightsizing of Staples to 13K SF
|
|
||||||||
|
18
|
|
Harpers Station
|
|
Cincinnati, OH-KY-IN
|
|
|
|
|
Remerchandise former Bova furniture with a 29K SF Fresh Thyme Farmers Market (Meijer) and combination of adjacent small shop vacancies for an 8K SF Pet Supplies Plus
|
|
||||||
|
19
|
|
Collegetown Shopping Center
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
Reconfigure former Acme with a 42K SF LA Fitness and an additional 5K SF of retail space
|
|
|||||||||||
|
20
|
|
Boyertown Shopping Center
|
|
Reading, PA
|
|
|
|
|
|
|
Addition of a 20K SF Tractor Supply Co. in remainder of former Ames space
|
|
||||
|
21
|
|
Festival Centre
|
|
Charleston-North Charleston, SC
|
|
|
|
Remerchandise former Hamrick's with a 40K SF Sears Outlet
|
|
|||||||
|
22
|
|
Kingston Overlook
|
|
Knoxville, TN
|
|
|
|
|
|
|
Remerchandise former American Signature Home with a 53K SF Sears Home Outlet
|
|
||||
|
23
|
|
Watson Glen Shopping Center
|
Nashville-Davidson--Murfreesboro--Franklin, TN
|
Remerchandise former Kmart with an 86K SF At Home (Garden Ridge)
|
|
|||||||||||
|
24
|
|
Williamson Square
|
|
Nashville-Davidson--Murfreesboro--Franklin, TN
|
Remerchandise former grocer with a 29K SF SkyZone and a 17K SF Planet Fitness
|
|
||||||||||
|
25
|
|
Bardin Place Center
|
|
Dallas-Fort Worth-Arlington, TX
|
|
|
|
Reconfigure former Sports Authority and adjacent small shop space with an 86K SF WinCo Foods
|
|
|||||||
|
26
|
|
Ridgeview Centre
|
|
Wise, VA
|
|
|
|
|
|
|
Remerchandise former Kmart with a 29K SF Ollie's Bargain Outlet
|
|
||||
|
27
|
|
Mequon Pavilions
|
|
Milwaukee-Waukesha-West Allis, WI
|
|
|
Combination of four adjacent small shop spaces for a 25K SF Marshalls and relocation of existing 5K SF Men's Wearhouse and 3K SF Fitness Together
|
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
COMPLETED ANCHOR SPACE REPOSITIONINGS - TWELVE MONTHS ENDED 12/31/14
|
|
||||||||||||||
|
1
|
|
Bakersfield Plaza
|
|
Bakersfield, CA
|
|
|
|
|
|
Remerchandise former CVS with a 29K SF Ross Dress for Less
|
|
|||||
|
2
|
|
San Dimas Plaza
|
|
Los Angeles-Long Beach-Anaheim, CA
|
|
|
Addition of a 46K SF Smart & Final Extra! in former Ralphs (Kroger)
|
|
||||||||
|
3
|
|
Rose Pavilion
|
|
San Francisco-Oakland-Hayward, CA
|
|
|
Reconfigure former TGI Friday's outparcel with a 14K SF CVS with drive thru
|
|
||||||||
|
4
|
|
Westminster City Center
|
|
Denver-Aurora-Lakewood, CO
|
|
|
|
Reconfigure former Circuit City with a 26K SF Ross Dress for Less and a 23K SF Jo-Ann Fabrics and remerchandise vacant junior anchor with an 11K SF Ulta
|
|
|||||||
|
5
|
|
The Manchester Collection
|
|
Hartford-West Hartford-East Hartford, CT
|
|
|
Remerchandise former Sports Authority with a 42K SF Hobby Lobby and reconfigure former Petco and adjacent vacancy with a 25K SF Ashley Furniture
|
|
||||||||
|
6
|
|
Colonial Marketplace
|
|
Orlando-Kissimmee-Sanford, FL
|
|
|
|
Reconfigure former AC Moore and OfficeMax with a 60K SF Burlington Coat Factory
|
|
|||||||
|
7
|
|
County Line Plaza
|
|
Jackson, MS
|
|
|
|
|
|
|
Remerchandise former Haverty's Furniture with a 43K SF Conn's
|
|
||||
|
8
|
|
University Commons
|
|
Greenville, NC
|
|
|
|
|
|
Remerchandise a 29K SF former Circuit City with a 14K SF Petco, a 9K SF Kirkland's and a 6K SF Sleepy's
|
|
|||||
|
9
|
|
Midway Market Square
|
|
Cleveland-Elyria, OH
|
|
|
|
|
Remerchandise former furniture store with a 26K SF Jo-Ann Fabric & Craft Store
|
|
||||||
|
10
|
|
South Towne Centre
|
|
Dayton, OH
|
|
|
|
|
|
|
Combination of five adjacent small shop spaces for a 14K SF OfficeMax
|
|
||||
|
11
|
|
County Line Plaza
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
Rightsize existing 67K SF VF Outlet to 35K SF and demise remaining space for a 21K SF Bottom Dollar (Delhaize) and an additional retailer; remerchandise former Payless ShoeSource with a 4K SF Sherwin Williams and an existing outparcel with a 3K SF TD Bank
|
|
||||||||||
|
12
|
|
Pilgrim Gardens
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
Remerchandise former Loehmann's with a 22K SF Ross Dress for Less
|
|
||||||||||
|
13
|
|
Dillsburg Shopping Center
|
|
York-Hanover, PA
|
|
|
|
|
Reconfigure former Giant Food (Ahold) to accommodate a 38K SF Tractor Supply and a 7K SF freestanding Advanced Auto Parts
|
|
||||||
|
14
|
|
Five Points
|
|
|
Corpus Christi, TX
|
|
|
|
|
Remerchandise center with a 23K SF Burke's Outlet, a 16K SF Party City, a 13K SF PETCO, a 26K SF Ross Dress for Less and the expansion of Beall's to a 35K SF prototype
|
|
|||||
|
15
|
|
Hunting Hills
|
|
|
Roanoke, VA
|
|
|
|
|
|
|
Reconfigure former Walmart with a 101K SF Kohl’s and a 17K SF PetSmart and remerchandise small shop space with a 10K SF Dollar Tree and a 7K SF Rack Room Shoes
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
2014 Anchor Space Repositionings:
|
|
|
|
|
|
|
|
|||||||||
|
|
|
Number of Projects
|
|
Expected Total
Project Costs
|
|
NOI Yield
|
|
|
|
|
|
|
||||
|
|
In Process
|
27
|
|
$
|
92,089
|
|
|
13.0
|
%
|
|
|
|
|
|
|
|
|
|
Completed
|
15
|
|
53,027
|
|
|
13.7
|
%
|
|
|
|
|
|
|
||
|
|
TOTAL
|
42
|
|
$
|
145,115
|
|
|
13.3
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
30
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
31
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
32
|
|
PROPERTIES BY LARGEST US MSAs
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Dollars in thousands except per square foot amounts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Percent of
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
Number of
|
|
|
|
Percent
|
|
Percent
|
|
|
|
|
|
Number of
|
|
Percent
|
|
Percent
|
|
||||||||||||
|
|
Largest US MSAs by 2013 Population
|
|
|
|
Properties
|
|
GLA
|
|
Leased
|
|
Billed
|
|
ABR
|
|
ABR / SF
|
|
Properties
|
|
of GLA
|
|
of ABR
|
|
||||||||||||
|
1
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
|
|
30
|
|
|
3,642,868
|
|
|
93.4
|
%
|
|
92.0
|
%
|
|
$
|
59,859
|
|
|
$
|
18.32
|
|
|
5.8
|
%
|
|
4.2
|
%
|
|
6.5
|
%
|
|
|
2
|
|
Los Angeles-Long Beach-Anaheim, CA
|
|
|
|
9
|
|
|
1,684,935
|
|
|
98.7
|
%
|
|
97.9
|
%
|
|
28,291
|
|
|
17.40
|
|
|
1.7
|
%
|
|
1.9
|
%
|
|
3.1
|
%
|
|
||
|
3
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
|
|
16
|
|
|
3,956,049
|
|
|
92.7
|
%
|
|
90.2
|
%
|
|
43,536
|
|
|
12.41
|
|
|
3.1
|
%
|
|
4.6
|
%
|
|
4.8
|
%
|
|
||
|
4
|
|
Dallas-Fort Worth-Arlington, TX
|
|
|
|
16
|
|
|
2,976,623
|
|
|
93.4
|
%
|
|
91.5
|
%
|
|
39,950
|
|
|
14.64
|
|
|
3.1
|
%
|
|
3.4
|
%
|
|
4.4
|
%
|
|
||
|
5
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
|
|
37
|
|
|
4,612,061
|
|
|
95.3
|
%
|
|
95.0
|
%
|
|
47,608
|
|
|
11.16
|
|
|
7.1
|
%
|
|
5.3
|
%
|
|
5.2
|
%
|
|
||
|
6
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
|
|
27
|
|
|
4,204,342
|
|
|
94.7
|
%
|
|
92.5
|
%
|
|
53,862
|
|
|
15.22
|
|
|
5.2
|
%
|
|
4.8
|
%
|
|
5.9
|
%
|
|
|||
|
7
|
|
Washington-Arlington-Alexandria, DC-VA-MD-WV
|
|
|
3
|
|
|
451,260
|
|
|
97.1
|
%
|
|
97.1
|
%
|
|
4,643
|
|
|
10.60
|
|
|
0.6
|
%
|
|
0.5
|
%
|
|
0.5
|
%
|
|
|||
|
8
|
|
Miami-Fort Lauderdale-West Palm Beach, FL
|
|
|
|
10
|
|
|
1,729,743
|
|
|
87.6
|
%
|
|
83.3
|
%
|
|
19,457
|
|
|
13.38
|
|
|
1.9
|
%
|
|
2.0
|
%
|
|
2.1
|
%
|
|
||
|
9
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
|
|
24
|
|
|
3,587,684
|
|
|
91.2
|
%
|
|
90.6
|
%
|
|
33,271
|
|
|
10.27
|
|
|
4.6
|
%
|
|
4.1
|
%
|
|
3.6
|
%
|
|
||
|
10
|
|
Boston-Cambridge-Newton, MA-NH
|
|
|
|
5
|
|
|
536,315
|
|
|
94.1
|
%
|
|
91.4
|
%
|
|
6,012
|
|
|
12.27
|
|
|
1.0
|
%
|
|
0.6
|
%
|
|
0.7
|
%
|
|
||
|
|
Top 10 Largest US MSAs by Population
|
|
|
|
177
|
|
|
27,381,880
|
|
|
93.6
|
%
|
|
92.0
|
%
|
|
336,489
|
|
|
13.70
|
|
|
34.0
|
%
|
|
31.5
|
%
|
|
36.7
|
%
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
11
|
|
San Francisco-Oakland-Hayward, CA
|
|
|
|
2
|
|
|
476,369
|
|
|
94.3
|
%
|
|
93.8
|
%
|
|
8,661
|
|
|
24.48
|
|
|
0.4
|
%
|
|
0.5
|
%
|
|
0.9
|
%
|
|
||
|
12
|
|
Phoenix-Mesa-Scottsdale, AZ
|
|
|
|
1
|
|
|
119,525
|
|
|
77.4
|
%
|
|
77.4
|
%
|
|
565
|
|
|
6.11
|
|
|
0.2
|
%
|
|
0.1
|
%
|
|
0.1
|
%
|
|
||
|
13
|
|
Riverside-San Bernardino-Ontario, CA
|
|
|
|
4
|
|
|
537,795
|
|
|
94.6
|
%
|
|
93.9
|
%
|
|
6,441
|
|
|
12.75
|
|
|
0.8
|
%
|
|
0.6
|
%
|
|
0.7
|
%
|
|
||
|
14
|
|
Detroit-Warren-Dearborn, MI
|
|
|
|
9
|
|
|
1,633,504
|
|
|
92.9
|
%
|
|
89.7
|
%
|
|
16,120
|
|
|
11.43
|
|
|
1.7
|
%
|
|
1.9
|
%
|
|
1.8
|
%
|
|
||
|
15
|
|
Seattle-Tacoma-Bellevue, WA
|
|
|
|
0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
||
|
16
|
|
Minneapolis-St. Paul-Bloomington, MN-WI
|
|
|
|
8
|
|
|
1,191,459
|
|
|
93.1
|
%
|
|
89.7
|
%
|
|
12,943
|
|
|
12.41
|
|
|
1.5
|
%
|
|
1.4
|
%
|
|
1.4
|
%
|
|
||
|
17
|
|
San Diego-Carlsbad, CA
|
|
|
|
2
|
|
|
505,814
|
|
|
97.6
|
%
|
|
97.6
|
%
|
|
8,947
|
|
|
18.77
|
|
|
0.4
|
%
|
|
0.6
|
%
|
|
1.0
|
%
|
|
||
|
18
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
|
|
15
|
|
|
2,389,002
|
|
|
92.8
|
%
|
|
92.5
|
%
|
|
25,663
|
|
|
12.13
|
|
|
2.9
|
%
|
|
2.8
|
%
|
|
2.8
|
%
|
|
||
|
19
|
|
St. Louis, MO-IL
|
|
|
|
4
|
|
|
670,045
|
|
|
89.4
|
%
|
|
89.1
|
%
|
|
4,816
|
|
|
8.62
|
|
|
0.8
|
%
|
|
0.8
|
%
|
|
0.5
|
%
|
|
||
|
20
|
|
Baltimore-Columbia-Towson, MD
|
|
|
|
1
|
|
|
219,862
|
|
|
99.5
|
%
|
|
99.5
|
%
|
|
2,617
|
|
|
11.96
|
|
|
0.2
|
%
|
|
0.3
|
%
|
|
0.3
|
%
|
|
||
|
|
Top 20 Largest US MSAs by Population
|
|
|
|
223
|
|
|
35,125,255
|
|
|
93.5
|
%
|
|
91.9
|
%
|
|
423,263
|
|
|
13.51
|
|
|
42.8
|
%
|
|
40.5
|
%
|
|
46.2
|
%
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
21
|
|
Denver-Aurora-Lakewood, CO
|
|
|
|
5
|
|
|
1,199,699
|
|
|
97.2
|
%
|
|
95.8
|
%
|
|
14,309
|
|
|
12.33
|
|
|
1.0
|
%
|
|
1.4
|
%
|
|
1.6
|
%
|
|
||
|
22
|
|
Pittsburgh, PA
|
|
|
|
1
|
|
|
218,714
|
|
|
95.7
|
%
|
|
95.7
|
%
|
|
1,613
|
|
|
8.50
|
|
|
0.2
|
%
|
|
0.3
|
%
|
|
0.2
|
%
|
|
||
|
23
|
|
Charlotte-Concord-Gastonia, NC-SC
|
|
|
|
6
|
|
|
1,702,148
|
|
|
87.6
|
%
|
|
85.0
|
%
|
|
13,469
|
|
|
9.94
|
|
|
1.2
|
%
|
|
2.0
|
%
|
|
1.5
|
%
|
|
||
|
24
|
|
Portland-Vancouver-Hillsboro, OR-WA
|
|
|
|
0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
||
|
25
|
|
San Antonio-New Braunfels, TX
|
|
|
|
0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
||
|
26
|
|
Orlando-Kissimmee-Sanford, FL
|
|
|
|
7
|
|
|
996,317
|
|
|
91.3
|
%
|
|
89.3
|
%
|
|
14,797
|
|
|
16.63
|
|
|
1.3
|
%
|
|
1.1
|
%
|
|
1.6
|
%
|
|
||
|
27
|
|
Sacramento--Roseville--Arden-Arcade, CA
|
|
|
|
1
|
|
|
103,695
|
|
|
100.0
|
%
|
|
95.2
|
%
|
|
1,962
|
|
|
18.92
|
|
|
0.2
|
%
|
|
0.1
|
%
|
|
0.2
|
%
|
|
||
|
28
|
|
Cincinnati, OH-KY-IN
|
|
|
|
7
|
|
|
1,934,812
|
|
|
94.8
|
%
|
|
93.4
|
%
|
|
19,800
|
|
|
12.50
|
|
|
1.3
|
%
|
|
2.2
|
%
|
|
2.2
|
%
|
|
||
|
29
|
|
Cleveland-Elyria, OH
|
|
|
|
7
|
|
|
1,450,837
|
|
|
92.2
|
%
|
|
91.5
|
%
|
|
14,511
|
|
|
10.85
|
|
|
1.3
|
%
|
|
1.7
|
%
|
|
1.6
|
%
|
|
||
|
30
|
|
Kansas City, MO-KS
|
|
|
|
4
|
|
|
611,786
|
|
|
90.3
|
%
|
|
87.6
|
%
|
|
4,322
|
|
|
7.95
|
|
|
0.8
|
%
|
|
0.7
|
%
|
|
0.5
|
%
|
|
||
|
31
|
|
Las Vegas-Henderson-Paradise, NV
|
|
|
|
3
|
|
|
609,661
|
|
|
92.7
|
%
|
|
89.9
|
%
|
|
7,879
|
|
|
13.95
|
|
|
0.6
|
%
|
|
0.7
|
%
|
|
0.9
|
%
|
|
||
|
32
|
|
Columbus, OH
|
|
|
|
4
|
|
|
449,719
|
|
|
88.4
|
%
|
|
84.3
|
%
|
|
3,865
|
|
|
10.31
|
|
|
0.8
|
%
|
|
0.5
|
%
|
|
0.4
|
%
|
|
||
|
33
|
|
Indianapolis-Carmel-Anderson, IN
|
|
|
|
4
|
|
|
883,549
|
|
|
85.7
|
%
|
|
84.2
|
%
|
|
5,978
|
|
|
8.57
|
|
|
0.8
|
%
|
|
1.0
|
%
|
|
0.7
|
%
|
|
||
|
34
|
|
San Jose-Sunnyvale-Santa Clara, CA
|
|
|
|
0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
||
|
35
|
|
Austin-Round Rock, TX
|
|
|
|
1
|
|
|
168,112
|
|
|
96.4
|
%
|
|
96.4
|
%
|
|
1,272
|
|
|
7.85
|
|
|
0.2
|
%
|
|
0.2
|
%
|
|
0.1
|
%
|
|
||
|
36
|
|
Nashville-Davidson--Murfreesboro--Franklin, TN
|
|
|
|
7
|
|
|
1,275,479
|
|
|
91.4
|
%
|
|
88.1
|
%
|
|
11,915
|
|
|
10.32
|
|
|
1.3
|
%
|
|
1.5
|
%
|
|
1.3
|
%
|
|
||
|
37
|
|
Virginia Beach-Norfolk-Newport News, VA-NC
|
|
|
|
2
|
|
|
205,245
|
|
|
100.0
|
%
|
|
100.0
|
%
|
|
3,477
|
|
|
17.06
|
|
|
0.4
|
%
|
|
0.2
|
%
|
|
0.4
|
%
|
|
||
|
38
|
|
Providence-Warwick, RI-MA
|
|
|
|
1
|
|
|
148,126
|
|
|
99.1
|
%
|
|
99.1
|
%
|
|
1,531
|
|
|
10.43
|
|
|
0.2
|
%
|
|
0.2
|
%
|
|
0.2
|
%
|
|
||
|
39
|
|
Milwaukee-Waukesha-West Allis, WI
|
|
|
|
4
|
|
|
715,954
|
|
|
92.5
|
%
|
|
87.0
|
%
|
|
6,612
|
|
|
9.99
|
|
|
0.8
|
%
|
|
0.8
|
%
|
|
0.7
|
%
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
33
|
|
PROPERTIES BY LARGEST US MSAs
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Dollars in thousands except per square foot amounts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Percent of
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
Number of
|
|
|
|
Percent
|
|
Percent
|
|
|
|
|
|
Number of
|
|
Percent
|
|
Percent
|
|
||||||||||||
|
|
Largest US MSAs by 2013 Population
|
|
|
|
Properties
|
|
GLA
|
|
Leased
|
|
Billed
|
|
ABR
|
|
ABR / SF
|
|
Properties
|
|
of GLA
|
|
of ABR
|
|
||||||||||||
|
40
|
|
Jacksonville, FL
|
|
|
|
5
|
|
|
827,528
|
|
|
85.1
|
%
|
|
81.2
|
%
|
|
8,635
|
|
|
12.35
|
|
|
1.0
|
%
|
|
1.0
|
%
|
|
0.9
|
%
|
|
||
|
41
|
|
Memphis, TN-MS-AR
|
|
|
|
1
|
|
|
658,121
|
|
|
93.5
|
%
|
|
92.9
|
%
|
|
7,499
|
|
|
12.40
|
|
|
0.2
|
%
|
|
0.8
|
%
|
|
0.8
|
%
|
|
||
|
42
|
|
Oklahoma City, OK
|
|
|
|
0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
||
|
43
|
|
Louisville/Jefferson County, KY-IN
|
|
|
|
4
|
|
|
685,704
|
|
|
89.1
|
%
|
|
89.0
|
%
|
|
6,141
|
|
|
10.36
|
|
|
0.8
|
%
|
|
0.8
|
%
|
|
0.7
|
%
|
|
||
|
44
|
|
Richmond, VA
|
|
|
|
2
|
|
|
215,897
|
|
|
94.7
|
%
|
|
94.1
|
%
|
|
2,612
|
|
|
12.78
|
|
|
0.4
|
%
|
|
0.2
|
%
|
|
0.3
|
%
|
|
||
|
45
|
|
New Orleans-Metairie, LA
|
|
|
|
0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
||
|
46
|
|
Hartford-West Hartford-East Hartford, CT
|
|
|
|
4
|
|
|
896,415
|
|
|
92.3
|
%
|
|
92.0
|
%
|
|
10,904
|
|
|
15.78
|
|
|
0.8
|
%
|
|
1.0
|
%
|
|
1.2
|
%
|
|
||
|
47
|
|
Raleigh, NC
|
|
|
|
2
|
|
|
291,027
|
|
|
94.9
|
%
|
|
94.9
|
%
|
|
3,494
|
|
|
15.39
|
|
|
0.4
|
%
|
|
0.3
|
%
|
|
0.4
|
%
|
|
||
|
48
|
|
Salt Lake City, UT
|
|
|
|
0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
||
|
49
|
|
Birmingham-Hoover, AL
|
|
|
|
0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
||
|
50
|
|
Buffalo-Cheektowaga-Niagara Falls, NY
|
|
|
|
1
|
|
|
93,144
|
|
|
97.9
|
%
|
|
97.9
|
%
|
|
1,257
|
|
|
13.80
|
|
|
0.2
|
%
|
|
0.1
|
%
|
|
0.1
|
%
|
|
||
|
|
Top 50 Largest US MSAs by Population
|
|
|
|
306
|
|
|
51,466,944
|
|
|
92.9
|
%
|
|
91.2
|
%
|
|
591,115
|
|
|
12.97
|
|
|
58.7
|
%
|
|
59.3
|
%
|
|
64.6
|
%
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
MSAs Ranked 51 - 100 by Population
|
|
|
|
68
|
|
|
11,824,410
|
|
|
91.7
|
%
|
|
90.3
|
%
|
|
113,557
|
|
|
11.36
|
|
|
13.1
|
%
|
|
13.6
|
%
|
|
12.4
|
%
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
Other MSAs
|
|
|
|
147
|
|
|
23,537,152
|
|
|
93.1
|
%
|
|
91.8
|
%
|
|
210,948
|
|
|
10.61
|
|
|
28.2
|
%
|
|
27.1
|
%
|
|
23.0
|
%
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
TOTAL
|
|
|
|
521
|
|
|
86,828,506
|
|
|
92.8
|
%
|
|
91.3
|
%
|
|
$
|
915,619
|
|
|
$
|
12.14
|
|
|
100.0
|
%
|
|
100.0
|
%
|
|
100.0
|
%
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
34
|
|
LARGEST MSAs BY ABR
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Dollars in thousands except per square foot amounts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Percent of
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
Number of
|
|
|
|
Percent
|
|
Percent
|
|
|
|
|
|
Number of
|
|
Percent
|
|
Percent
|
|
||||||||||||
|
|
Largest MSAs by ABR
|
|
MSA Rank
|
|
Properties
|
|
GLA
|
|
Leased
|
|
Billed
|
|
ABR
|
|
ABR / SF
|
|
Properties
|
|
of GLA
|
|
of ABR
|
|
||||||||||||
|
1
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1
|
|
30
|
|
|
3,642,868
|
|
|
93.4
|
%
|
|
92.0
|
%
|
|
$
|
59,859
|
|
|
$
|
18.32
|
|
|
5.8
|
%
|
|
4.2
|
%
|
|
6.5
|
%
|
|
|
2
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
6
|
|
27
|
|
|
4,204,342
|
|
|
94.7
|
%
|
|
92.5
|
%
|
|
53,862
|
|
|
15.22
|
|
|
5.2
|
%
|
|
4.8
|
%
|
|
5.9
|
%
|
|
|||
|
3
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
5
|
|
37
|
|
|
4,612,061
|
|
|
95.3
|
%
|
|
95.0
|
%
|
|
47,608
|
|
|
11.16
|
|
|
7.1
|
%
|
|
5.3
|
%
|
|
5.2
|
%
|
|
||
|
4
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
3
|
|
16
|
|
|
3,956,049
|
|
|
92.7
|
%
|
|
90.2
|
%
|
|
43,536
|
|
|
12.41
|
|
|
3.1
|
%
|
|
4.6
|
%
|
|
4.8
|
%
|
|
||
|
5
|
|
Dallas-Fort Worth-Arlington, TX
|
|
4
|
|
16
|
|
|
2,976,623
|
|
|
93.4
|
%
|
|
91.5
|
%
|
|
39,950
|
|
|
14.64
|
|
|
3.1
|
%
|
|
3.4
|
%
|
|
4.4
|
%
|
|
||
|
6
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
9
|
|
24
|
|
|
3,587,684
|
|
|
91.2
|
%
|
|
90.6
|
%
|
|
33,271
|
|
|
10.27
|
|
|
4.6
|
%
|
|
4.1
|
%
|
|
3.6
|
%
|
|
||
|
7
|
|
Los Angeles-Long Beach-Anaheim, CA
|
|
2
|
|
9
|
|
|
1,684,935
|
|
|
98.7
|
%
|
|
97.9
|
%
|
|
28,291
|
|
|
17.40
|
|
|
1.7
|
%
|
|
1.9
|
%
|
|
3.1
|
%
|
|
||
|
8
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
18
|
|
15
|
|
|
2,389,002
|
|
|
92.8
|
%
|
|
92.5
|
%
|
|
25,663
|
|
|
12.13
|
|
|
2.9
|
%
|
|
2.8
|
%
|
|
2.8
|
%
|
|
||
|
9
|
|
Cincinnati, OH-KY-IN
|
|
28
|
|
7
|
|
|
1,934,812
|
|
|
94.8
|
%
|
|
93.4
|
%
|
|
19,800
|
|
|
12.50
|
|
|
1.3
|
%
|
|
2.2
|
%
|
|
2.2
|
%
|
|
||
|
10
|
|
Miami-Fort Lauderdale-West Palm Beach, FL
|
|
8
|
|
10
|
|
|
1,729,743
|
|
|
87.6
|
%
|
|
83.3
|
%
|
|
19,457
|
|
|
13.38
|
|
|
1.9
|
%
|
|
2.0
|
%
|
|
2.1
|
%
|
|
||
|
|
10 Largest MSAs by ABR
|
|
—
|
|
191
|
|
|
30,718,119
|
|
|
93.5
|
%
|
|
92.0
|
%
|
|
371,297
|
|
|
13.59
|
|
|
36.7
|
%
|
|
35.4
|
%
|
|
40.6
|
%
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
11
|
|
Detroit-Warren-Dearborn, MI
|
|
14
|
|
9
|
|
|
1,633,504
|
|
|
92.9
|
%
|
|
89.7
|
%
|
|
16,120
|
|
|
11.43
|
|
|
1.7
|
%
|
|
1.9
|
%
|
|
1.8
|
%
|
|
||
|
12
|
|
Orlando-Kissimmee-Sanford, FL
|
|
26
|
|
7
|
|
|
996,317
|
|
|
91.3
|
%
|
|
89.3
|
%
|
|
14,797
|
|
|
16.63
|
|
|
1.3
|
%
|
|
1.1
|
%
|
|
1.6
|
%
|
|
||
|
13
|
|
Cleveland-Elyria, OH
|
|
29
|
|
7
|
|
|
1,450,837
|
|
|
92.2
|
%
|
|
91.5
|
%
|
|
14,511
|
|
|
10.85
|
|
|
1.3
|
%
|
|
1.7
|
%
|
|
1.6
|
%
|
|
||
|
14
|
|
Denver-Aurora-Lakewood, CO
|
|
21
|
|
5
|
|
|
1,199,699
|
|
|
97.2
|
%
|
|
95.8
|
%
|
|
14,309
|
|
|
12.33
|
|
|
1.0
|
%
|
|
1.4
|
%
|
|
1.6
|
%
|
|
||
|
15
|
|
Charlotte-Concord-Gastonia, NC-SC
|
|
23
|
|
6
|
|
|
1,702,148
|
|
|
87.6
|
%
|
|
85.0
|
%
|
|
13,469
|
|
|
9.94
|
|
|
1.2
|
%
|
|
2.0
|
%
|
|
1.5
|
%
|
|
||
|
16
|
|
Allentown-Bethlehem-Easton, PA-NJ
|
|
68
|
|
5
|
|
|
1,298,479
|
|
|
98.2
|
%
|
|
97.8
|
%
|
|
13,399
|
|
|
11.16
|
|
|
1.0
|
%
|
|
1.5
|
%
|
|
1.5
|
%
|
|
||
|
17
|
|
Minneapolis-St. Paul-Bloomington, MN-WI
|
|
16
|
|
8
|
|
|
1,191,459
|
|
|
93.1
|
%
|
|
89.7
|
%
|
|
12,943
|
|
|
12.41
|
|
|
1.5
|
%
|
|
1.4
|
%
|
|
1.4
|
%
|
|
||
|
18
|
|
Nashville-Davidson--Murfreesboro--Franklin, TN
|
|
36
|
|
7
|
|
|
1,275,479
|
|
|
91.4
|
%
|
|
88.1
|
%
|
|
11,915
|
|
|
10.32
|
|
|
1.3
|
%
|
|
1.5
|
%
|
|
1.3
|
%
|
|
||
|
19
|
|
Hartford-West Hartford-East Hartford, CT
|
|
46
|
|
4
|
|
|
896,415
|
|
|
92.3
|
%
|
|
92.0
|
%
|
|
10,904
|
|
|
15.78
|
|
|
0.8
|
%
|
|
1.0
|
%
|
|
1.2
|
%
|
|
||
|
20
|
|
Oxnard-Thousand Oaks-Ventura, CA
|
|
66
|
|
3
|
|
|
677,512
|
|
|
98.9
|
%
|
|
97.4
|
%
|
|
10,552
|
|
|
15.97
|
|
|
0.6
|
%
|
|
0.8
|
%
|
|
1.2
|
%
|
|
||
|
|
20 Largest MSAs by ABR
|
|
—
|
|
252
|
|
|
43,039,968
|
|
|
93.4
|
%
|
|
91.8
|
%
|
|
504,216
|
|
|
13.19
|
|
|
48.4
|
%
|
|
49.6
|
%
|
|
55.1
|
%
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
21
|
|
Binghamton, NY
|
|
186
|
|
4
|
|
|
751,207
|
|
|
98.9
|
%
|
|
98.9
|
%
|
|
9,677
|
|
|
13.03
|
|
|
0.8
|
%
|
|
0.9
|
%
|
|
1.1
|
%
|
|
||
|
22
|
|
Naples-Immokalee-Marco Island, FL
|
|
149
|
|
4
|
|
|
755,309
|
|
|
97.9
|
%
|
|
97.6
|
%
|
|
9,334
|
|
|
12.69
|
|
|
0.8
|
%
|
|
0.9
|
%
|
|
1.0
|
%
|
|
||
|
23
|
|
San Diego-Carlsbad, CA
|
|
17
|
|
2
|
|
|
505,814
|
|
|
97.6
|
%
|
|
97.6
|
%
|
|
8,947
|
|
|
18.77
|
|
|
0.4
|
%
|
|
0.6
|
%
|
|
1.0
|
%
|
|
||
|
24
|
|
San Francisco-Oakland-Hayward, CA
|
|
11
|
|
2
|
|
|
476,369
|
|
|
94.3
|
%
|
|
93.8
|
%
|
|
8,661
|
|
|
24.48
|
|
|
0.4
|
%
|
|
0.5
|
%
|
|
0.9
|
%
|
|
||
|
25
|
|
Jacksonville, FL
|
|
40
|
|
5
|
|
|
827,528
|
|
|
85.1
|
%
|
|
81.2
|
%
|
|
8,635
|
|
|
12.35
|
|
|
1.0
|
%
|
|
1.0
|
%
|
|
0.9
|
%
|
|
||
|
26
|
|
Las Vegas-Henderson-Paradise, NV
|
|
31
|
|
3
|
|
|
609,661
|
|
|
92.7
|
%
|
|
89.9
|
%
|
|
7,879
|
|
|
13.95
|
|
|
0.6
|
%
|
|
0.7
|
%
|
|
0.9
|
%
|
|
||
|
27
|
|
Vallejo-Fairfield, CA
|
|
122
|
|
1
|
|
|
490,407
|
|
|
98.2
|
%
|
|
97.5
|
%
|
|
7,730
|
|
|
16.12
|
|
|
0.2
|
%
|
|
0.6
|
%
|
|
0.8
|
%
|
|
||
|
28
|
|
Memphis, TN-MS-AR
|
|
41
|
|
1
|
|
|
658,121
|
|
|
93.5
|
%
|
|
92.9
|
%
|
|
7,499
|
|
|
12.40
|
|
|
0.2
|
%
|
|
0.8
|
%
|
|
0.8
|
%
|
|
||
|
29
|
|
Fresno, CA
|
|
56
|
|
2
|
|
|
436,334
|
|
|
97.8
|
%
|
|
97.5
|
%
|
|
7,289
|
|
|
17.09
|
|
|
0.4
|
%
|
|
0.5
|
%
|
|
0.8
|
%
|
|
||
|
30
|
|
New Haven-Milford, CT
|
|
63
|
|
6
|
|
|
572,225
|
|
|
90.9
|
%
|
|
88.9
|
%
|
|
7,240
|
|
|
13.92
|
|
|
1.2
|
%
|
|
0.7
|
%
|
|
0.8
|
%
|
|
||
|
31
|
|
Port St. Lucie, FL
|
|
116
|
|
5
|
|
|
637,254
|
|
|
82.6
|
%
|
|
81.4
|
%
|
|
7,168
|
|
|
13.61
|
|
|
1.0
|
%
|
|
0.7
|
%
|
|
0.8
|
%
|
|
||
|
32
|
|
Norwich-New London, CT
|
|
169
|
|
2
|
|
|
433,602
|
|
|
98.3
|
%
|
|
98.3
|
%
|
|
6,932
|
|
|
16.27
|
|
|
0.4
|
%
|
|
0.5
|
%
|
|
0.8
|
%
|
|
||
|
33
|
|
Milwaukee-Waukesha-West Allis, WI
|
|
39
|
|
4
|
|
|
715,954
|
|
|
92.5
|
%
|
|
87.0
|
%
|
|
6,612
|
|
|
9.99
|
|
|
0.8
|
%
|
|
0.8
|
%
|
|
0.7
|
%
|
|
||
|
34
|
|
Riverside-San Bernardino-Ontario, CA
|
|
13
|
|
4
|
|
|
537,795
|
|
|
94.6
|
%
|
|
93.9
|
%
|
|
6,441
|
|
|
12.75
|
|
|
0.8
|
%
|
|
0.6
|
%
|
|
0.7
|
%
|
|
||
|
35
|
|
Worcester, MA-CT
|
|
58
|
|
4
|
|
|
589,104
|
|
|
84.3
|
%
|
|
84.0
|
%
|
|
6,221
|
|
|
12.52
|
|
|
0.8
|
%
|
|
0.7
|
%
|
|
0.7
|
%
|
|
||
|
36
|
|
Louisville/Jefferson County, KY-IN
|
|
43
|
|
4
|
|
|
685,704
|
|
|
89.1
|
%
|
|
89.0
|
%
|
|
6,141
|
|
|
10.36
|
|
|
0.8
|
%
|
|
0.8
|
%
|
|
0.7
|
%
|
|
||
|
37
|
|
Boston-Cambridge-Newton, MA-NH
|
|
10
|
|
5
|
|
|
536,315
|
|
|
94.1
|
%
|
|
91.4
|
%
|
|
6,012
|
|
|
12.27
|
|
|
1.0
|
%
|
|
0.6
|
%
|
|
0.7
|
%
|
|
||
|
38
|
|
Indianapolis-Carmel-Anderson, IN
|
|
33
|
|
4
|
|
|
883,549
|
|
|
85.7
|
%
|
|
84.2
|
%
|
|
5,978
|
|
|
8.57
|
|
|
0.8
|
%
|
|
1.0
|
%
|
|
0.7
|
%
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
35
|
|
LARGEST MSAs BY ABR
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Dollars in thousands except per square foot amounts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Percent of
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
Number of
|
|
|
|
Percent
|
|
Percent
|
|
|
|
|
|
Number of
|
|
Percent
|
|
Percent
|
|
||||||||||||
|
|
Largest MSAs by ABR
|
|
MSA Rank
|
|
Properties
|
|
GLA
|
|
Leased
|
|
Billed
|
|
ABR
|
|
ABR / SF
|
|
Properties
|
|
of GLA
|
|
of ABR
|
|
||||||||||||
|
39
|
|
Scranton--Wilkes-Barre--Hazleton, PA
|
|
95
|
|
2
|
|
|
610,539
|
|
|
98.9
|
%
|
|
98.9
|
%
|
|
5,268
|
|
|
19.54
|
|
|
0.4
|
%
|
|
0.7
|
%
|
|
0.6
|
%
|
|
||
|
40
|
|
Ann Arbor, MI
|
|
147
|
|
3
|
|
|
663,535
|
|
|
98.1
|
%
|
|
92.4
|
%
|
|
5,069
|
|
|
7.79
|
|
|
0.6
|
%
|
|
0.8
|
%
|
|
0.6
|
%
|
|
||
|
41
|
|
Springfield, MA
|
|
86
|
|
3
|
|
|
456,737
|
|
|
96.0
|
%
|
|
96.0
|
%
|
|
5,030
|
|
|
13.52
|
|
|
0.6
|
%
|
|
0.5
|
%
|
|
0.5
|
%
|
|
||
|
42
|
|
Wilmington, NC
|
|
175
|
|
2
|
|
|
379,107
|
|
|
97.7
|
%
|
|
97.7
|
%
|
|
5,021
|
|
|
13.70
|
|
|
0.4
|
%
|
|
0.4
|
%
|
|
0.5
|
%
|
|
||
|
43
|
|
Dayton, OH
|
|
71
|
|
3
|
|
|
532,521
|
|
|
96.5
|
%
|
|
93.7
|
%
|
|
5,003
|
|
|
11.98
|
|
|
0.6
|
%
|
|
0.6
|
%
|
|
0.5
|
%
|
|
||
|
44
|
|
St. Louis, MO-IL
|
|
19
|
|
4
|
|
|
670,045
|
|
|
89.4
|
%
|
|
89.1
|
%
|
|
4,816
|
|
|
8.62
|
|
|
0.8
|
%
|
|
0.8
|
%
|
|
0.5
|
%
|
|
||
|
45
|
|
College Station-Bryan, TX
|
|
189
|
|
4
|
|
|
491,763
|
|
|
93.4
|
%
|
|
93.2
|
%
|
|
4,814
|
|
|
15.15
|
|
|
0.8
|
%
|
|
0.6
|
%
|
|
0.5
|
%
|
|
||
|
46
|
|
Winston-Salem, NC
|
|
82
|
|
3
|
|
|
438,898
|
|
|
93.1
|
%
|
|
93.1
|
%
|
|
4,769
|
|
|
12.05
|
|
|
0.6
|
%
|
|
0.5
|
%
|
|
0.5
|
%
|
|
||
|
47
|
|
Washington-Arlington-Alexandria, DC-VA-MD-WV
|
7
|
|
3
|
|
|
451,260
|
|
|
97.1
|
%
|
|
97.1
|
%
|
|
4,643
|
|
|
10.60
|
|
|
0.6
|
%
|
|
0.5
|
%
|
|
0.5
|
%
|
|
|||
|
48
|
|
North Port-Sarasota-Bradenton, FL
|
|
74
|
|
4
|
|
|
556,862
|
|
|
90.2
|
%
|
|
88.8
|
%
|
|
4,616
|
|
|
9.27
|
|
|
0.8
|
%
|
|
0.6
|
%
|
|
0.5
|
%
|
|
||
|
49
|
|
Greensboro-High Point, NC
|
|
73
|
|
1
|
|
|
406,768
|
|
|
97.8
|
%
|
|
97.5
|
%
|
|
4,594
|
|
|
11.54
|
|
|
0.2
|
%
|
|
0.5
|
%
|
|
0.5
|
%
|
|
||
|
50
|
|
Corpus Christi, TX
|
|
114
|
|
4
|
|
|
565,070
|
|
|
84.3
|
%
|
|
83.6
|
%
|
|
4,581
|
|
|
11.66
|
|
|
0.8
|
%
|
|
0.7
|
%
|
|
0.5
|
%
|
|
||
|
|
50 Largest MSAs by ABR
|
|
—
|
|
350
|
|
|
60,365,325
|
|
|
93.3
|
%
|
|
91.7
|
%
|
|
696,835
|
|
|
13.07
|
|
|
67.2
|
%
|
|
69.5
|
%
|
|
76.1
|
%
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
51
|
|
Kansas City, MO-KS
|
|
30
|
|
4
|
|
|
611,786
|
|
|
90.3
|
%
|
|
87.6
|
%
|
|
4,322
|
|
|
7.95
|
|
|
0.8
|
%
|
|
0.7
|
%
|
|
0.5
|
%
|
|
||
|
52
|
|
Manchester-Nashua, NH
|
|
131
|
|
2
|
|
|
348,189
|
|
|
97.6
|
%
|
|
97.6
|
%
|
|
4,032
|
|
|
19.20
|
|
|
0.4
|
%
|
|
0.4
|
%
|
|
0.4
|
%
|
|
||
|
53
|
|
Boulder, CO
|
|
160
|
|
1
|
|
|
278,790
|
|
|
88.5
|
%
|
|
83.3
|
%
|
|
3,957
|
|
|
16.04
|
|
|
0.2
|
%
|
|
0.3
|
%
|
|
0.4
|
%
|
|
||
|
54
|
|
Columbus, OH
|
|
32
|
|
4
|
|
|
449,719
|
|
|
88.4
|
%
|
|
84.3
|
%
|
|
3,865
|
|
|
10.31
|
|
|
0.8
|
%
|
|
0.5
|
%
|
|
0.4
|
%
|
|
||
|
55
|
|
Pittsfield, MA
|
|
314
|
|
1
|
|
|
442,578
|
|
|
99.9
|
%
|
|
99.9
|
%
|
|
3,803
|
|
|
19.54
|
|
|
0.2
|
%
|
|
0.5
|
%
|
|
0.4
|
%
|
|
||
|
56
|
|
Mobile, AL
|
|
127
|
|
1
|
|
|
611,972
|
|
|
90.4
|
%
|
|
90.2
|
%
|
|
3,757
|
|
|
6.89
|
|
|
0.2
|
%
|
|
0.7
|
%
|
|
0.4
|
%
|
|
||
|
57
|
|
Charleston-North Charleston, SC
|
|
76
|
|
3
|
|
|
556,809
|
|
|
87.7
|
%
|
|
80.4
|
%
|
|
3,696
|
|
|
7.63
|
|
|
0.6
|
%
|
|
0.6
|
%
|
|
0.4
|
%
|
|
||
|
58
|
|
Roanoke, VA
|
|
159
|
|
4
|
|
|
522,010
|
|
|
89.7
|
%
|
|
89.7
|
%
|
|
3,511
|
|
|
8.58
|
|
|
0.8
|
%
|
|
0.6
|
%
|
|
0.4
|
%
|
|
||
|
59
|
|
Raleigh, NC
|
|
47
|
|
2
|
|
|
291,027
|
|
|
94.9
|
%
|
|
94.9
|
%
|
|
3,494
|
|
|
15.39
|
|
|
0.4
|
%
|
|
0.3
|
%
|
|
0.4
|
%
|
|
||
|
60
|
|
Virginia Beach-Norfolk-Newport News, VA-NC
|
|
37
|
|
2
|
|
|
205,245
|
|
|
100.0
|
%
|
|
100.0
|
%
|
|
3,477
|
|
|
17.06
|
|
|
0.4
|
%
|
|
0.2
|
%
|
|
0.4
|
%
|
|
||
|
61
|
|
Panama City, FL
|
|
226
|
|
2
|
|
|
397,512
|
|
|
97.8
|
%
|
|
97.8
|
%
|
|
3,434
|
|
|
8.83
|
|
|
0.4
|
%
|
|
0.5
|
%
|
|
0.4
|
%
|
|
||
|
62
|
|
Spartanburg, SC
|
|
152
|
|
1
|
|
|
385,609
|
|
|
79.9
|
%
|
|
78.5
|
%
|
|
3,244
|
|
|
11.21
|
|
|
0.2
|
%
|
|
0.4
|
%
|
|
0.4
|
%
|
|
||
|
63
|
|
Atlantic City-Hammonton, NJ
|
|
168
|
|
1
|
|
|
179,199
|
|
|
99.1
|
%
|
|
96.0
|
%
|
|
3,225
|
|
|
18.16
|
|
|
0.2
|
%
|
|
0.2
|
%
|
|
0.4
|
%
|
|
||
|
64
|
|
Jackson, MS
|
|
93
|
|
3
|
|
|
406,316
|
|
|
78.5
|
%
|
|
78.5
|
%
|
|
3,170
|
|
|
10.09
|
|
|
0.6
|
%
|
|
0.5
|
%
|
|
0.3
|
%
|
|
||
|
65
|
|
Bakersfield, CA
|
|
62
|
|
1
|
|
|
240,328
|
|
|
97.4
|
%
|
|
97.4
|
%
|
|
3,168
|
|
|
13.78
|
|
|
0.2
|
%
|
|
0.3
|
%
|
|
0.3
|
%
|
|
||
|
66
|
|
Saginaw, MI
|
|
220
|
|
2
|
|
|
469,478
|
|
|
79.5
|
%
|
|
79.5
|
%
|
|
3,089
|
|
|
10.78
|
|
|
0.4
|
%
|
|
0.5
|
%
|
|
0.3
|
%
|
|
||
|
67
|
|
Greenville, NC
|
|
237
|
|
1
|
|
|
233,153
|
|
|
100.0
|
%
|
|
98.1
|
%
|
|
3,019
|
|
|
12.95
|
|
|
0.2
|
%
|
|
0.3
|
%
|
|
0.3
|
%
|
|
||
|
68
|
|
Greenville-Anderson-Mauldin, SC
|
|
65
|
|
2
|
|
|
220,723
|
|
|
92.1
|
%
|
|
87.2
|
%
|
|
2,904
|
|
|
14.28
|
|
|
0.4
|
%
|
|
0.3
|
%
|
|
0.3
|
%
|
|
||
|
69
|
|
Savannah, GA
|
|
143
|
|
2
|
|
|
235,019
|
|
|
93.3
|
%
|
|
78.0
|
%
|
|
2,880
|
|
|
13.30
|
|
|
0.4
|
%
|
|
0.3
|
%
|
|
0.3
|
%
|
|
||
|
70
|
|
Lexington-Fayette, KY
|
|
107
|
|
2
|
|
|
414,960
|
|
|
97.0
|
%
|
|
93.4
|
%
|
|
2,876
|
|
|
7.15
|
|
|
0.4
|
%
|
|
0.5
|
%
|
|
0.3
|
%
|
|
||
|
71
|
|
Hilton Head Island-Bluffton-Beaufort, SC
|
|
218
|
|
2
|
|
|
231,852
|
|
|
93.4
|
%
|
|
91.8
|
%
|
|
2,873
|
|
|
13.27
|
|
|
0.4
|
%
|
|
0.3
|
%
|
|
0.3
|
%
|
|
||
|
72
|
|
Elkhart-Goshen, IN
|
|
217
|
|
2
|
|
|
445,534
|
|
|
97.8
|
%
|
|
97.8
|
%
|
|
2,856
|
|
|
6.56
|
|
|
0.4
|
%
|
|
0.5
|
%
|
|
0.3
|
%
|
|
||
|
73
|
|
Toledo, OH
|
|
89
|
|
2
|
|
|
609,066
|
|
|
76.3
|
%
|
|
76.3
|
%
|
|
2,855
|
|
|
6.15
|
|
|
0.4
|
%
|
|
0.7
|
%
|
|
0.3
|
%
|
|
||
|
74
|
|
Tullahoma-Manchester, TN
|
|
378
|
|
3
|
|
|
433,744
|
|
|
95.8
|
%
|
|
95.8
|
%
|
|
2,765
|
|
|
6.66
|
|
|
0.6
|
%
|
|
0.5
|
%
|
|
0.3
|
%
|
|
||
|
75
|
|
Odessa, TX
|
|
279
|
|
1
|
|
|
365,559
|
|
|
100.0
|
%
|
|
100.0
|
%
|
|
2,740
|
|
|
11.99
|
|
|
0.2
|
%
|
|
0.4
|
%
|
|
0.3
|
%
|
|
||
|
76
|
|
Des Moines-West Des Moines, IA
|
|
91
|
|
2
|
|
|
511,277
|
|
|
89.9
|
%
|
|
82.6
|
%
|
|
2,653
|
|
|
6.89
|
|
|
0.4
|
%
|
|
0.6
|
%
|
|
0.3
|
%
|
|
||
|
77
|
|
Traverse City, MI
|
|
288
|
|
1
|
|
|
412,755
|
|
|
96.9
|
%
|
|
96.9
|
%
|
|
2,646
|
|
|
27.57
|
|
|
0.2
|
%
|
|
0.5
|
%
|
|
0.3
|
%
|
|
||
|
78
|
|
Baltimore-Columbia-Towson, MD
|
|
20
|
|
1
|
|
|
219,862
|
|
|
99.5
|
%
|
|
99.5
|
%
|
|
2,617
|
|
|
11.96
|
|
|
0.2
|
%
|
|
0.3
|
%
|
|
0.3
|
%
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
36
|
|
LARGEST MSAs BY ABR
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Dollars in thousands except per square foot amounts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Percent of
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
Number of
|
|
|
|
Percent
|
|
Percent
|
|
|
|
|
|
Number of
|
|
Percent
|
|
Percent
|
|
||||||||||||
|
|
Largest MSAs by ABR
|
|
MSA Rank
|
|
Properties
|
|
GLA
|
|
Leased
|
|
Billed
|
|
ABR
|
|
ABR / SF
|
|
Properties
|
|
of GLA
|
|
of ABR
|
|
||||||||||||
|
79
|
|
Richmond, VA
|
|
44
|
|
2
|
|
|
215,897
|
|
|
94.7
|
%
|
|
94.1
|
%
|
|
2,612
|
|
|
12.78
|
|
|
0.4
|
%
|
|
0.2
|
%
|
|
0.3
|
%
|
|
||
|
80
|
|
Portland-South Portland, ME
|
|
104
|
|
2
|
|
|
391,746
|
|
|
92.2
|
%
|
|
92.2
|
%
|
|
2,571
|
|
|
13.34
|
|
|
0.4
|
%
|
|
0.5
|
%
|
|
0.3
|
%
|
|
||
|
81
|
|
Lafayette, LA
|
|
108
|
|
3
|
|
|
433,329
|
|
|
93.8
|
%
|
|
88.9
|
%
|
|
2,491
|
|
|
6.13
|
|
|
0.6
|
%
|
|
0.5
|
%
|
|
0.3
|
%
|
|
||
|
82
|
|
Blacksburg-Christiansburg-Radford, VA
|
|
232
|
|
1
|
|
|
180,220
|
|
|
98.3
|
%
|
|
98.3
|
%
|
|
2,428
|
|
|
13.94
|
|
|
0.2
|
%
|
|
0.2
|
%
|
|
0.3
|
%
|
|
||
|
83
|
|
Chattanooga, TN-GA
|
|
99
|
|
2
|
|
|
339,426
|
|
|
96.2
|
%
|
|
96.2
|
%
|
|
2,410
|
|
|
8.01
|
|
|
0.4
|
%
|
|
0.4
|
%
|
|
0.3
|
%
|
|
||
|
84
|
|
Fort Wayne, IN
|
|
123
|
|
2
|
|
|
254,101
|
|
|
80.9
|
%
|
|
80.5
|
%
|
|
2,404
|
|
|
13.66
|
|
|
0.4
|
%
|
|
0.3
|
%
|
|
0.3
|
%
|
|
||
|
85
|
|
Lancaster, PA
|
|
102
|
|
3
|
|
|
236,006
|
|
|
96.3
|
%
|
|
94.3
|
%
|
|
2,379
|
|
|
10.47
|
|
|
0.6
|
%
|
|
0.3
|
%
|
|
0.3
|
%
|
|
||
|
86
|
|
Dover, DE
|
|
243
|
|
1
|
|
|
191,974
|
|
|
100.0
|
%
|
|
100.0
|
%
|
|
2,303
|
|
|
12.00
|
|
|
0.2
|
%
|
|
0.2
|
%
|
|
0.3
|
%
|
|
||
|
87
|
|
Merced, CA
|
|
176
|
|
1
|
|
|
149,802
|
|
|
94.3
|
%
|
|
89.5
|
%
|
|
2,201
|
|
|
16.20
|
|
|
0.2
|
%
|
|
0.2
|
%
|
|
0.2
|
%
|
|
||
|
88
|
|
Altoona, PA
|
|
323
|
|
1
|
|
|
279,746
|
|
|
95.9
|
%
|
|
91.8
|
%
|
|
2,157
|
|
|
8.21
|
|
|
0.2
|
%
|
|
0.3
|
%
|
|
0.2
|
%
|
|
||
|
89
|
|
Davenport-Moline-Rock Island, IA-IL
|
|
136
|
|
3
|
|
|
290,643
|
|
|
94.6
|
%
|
|
93.2
|
%
|
|
2,055
|
|
|
7.47
|
|
|
0.6
|
%
|
|
0.3
|
%
|
|
0.2
|
%
|
|
||
|
90
|
|
Durham-Chapel Hill, NC
|
|
101
|
|
2
|
|
|
182,828
|
|
|
96.1
|
%
|
|
96.1
|
%
|
|
2,035
|
|
|
11.99
|
|
|
0.4
|
%
|
|
0.2
|
%
|
|
0.2
|
%
|
|
||
|
91
|
|
Corning, NY
|
|
383
|
|
1
|
|
|
253,335
|
|
|
100.0
|
%
|
|
100.0
|
%
|
|
2,026
|
|
|
8.00
|
|
|
0.2
|
%
|
|
0.3
|
%
|
|
0.2
|
%
|
|
||
|
92
|
|
Concord, NH
|
|
287
|
|
1
|
|
|
182,887
|
|
|
100.0
|
%
|
|
97.3
|
%
|
|
1,967
|
|
|
11.01
|
|
|
0.2
|
%
|
|
0.2
|
%
|
|
0.2
|
%
|
|
||
|
93
|
|
Sacramento--Roseville--Arden-Arcade, CA
|
|
27
|
|
1
|
|
|
103,695
|
|
|
100.0
|
%
|
|
95.2
|
%
|
|
1,962
|
|
|
18.92
|
|
|
0.2
|
%
|
|
0.1
|
%
|
|
0.2
|
%
|
|
||
|
94
|
|
York-Hanover, PA
|
|
115
|
|
1
|
|
|
153,088
|
|
|
100.0
|
%
|
|
100.0
|
%
|
|
1,913
|
|
|
12.73
|
|
|
0.2
|
%
|
|
0.2
|
%
|
|
0.2
|
%
|
|
||
|
95
|
|
Duluth, MN-WI
|
|
166
|
|
1
|
|
|
182,969
|
|
|
99.3
|
%
|
|
99.3
|
%
|
|
1,912
|
|
|
10.52
|
|
|
0.2
|
%
|
|
0.2
|
%
|
|
0.2
|
%
|
|
||
|
96
|
|
Santa Maria-Santa Barbara, CA
|
|
120
|
|
1
|
|
|
179,495
|
|
|
96.4
|
%
|
|
96.4
|
%
|
|
1,904
|
|
|
11.90
|
|
|
0.2
|
%
|
|
0.2
|
%
|
|
0.2
|
%
|
|
||
|
97
|
|
Rutland, VT
|
|
525
|
|
1
|
|
|
224,514
|
|
|
97.7
|
%
|
|
97.7
|
%
|
|
1,902
|
|
|
8.67
|
|
|
0.2
|
%
|
|
0.3
|
%
|
|
0.2
|
%
|
|
||
|
98
|
|
Hickory-Lenoir-Morganton, NC
|
|
145
|
|
2
|
|
|
295,970
|
|
|
77.2
|
%
|
|
77.2
|
%
|
|
1,883
|
|
|
8.24
|
|
|
0.4
|
%
|
|
0.3
|
%
|
|
0.2
|
%
|
|
||
|
99
|
|
Springfield, IL
|
|
207
|
|
2
|
|
|
178,644
|
|
|
93.0
|
%
|
|
93.0
|
%
|
|
1,817
|
|
|
10.94
|
|
|
0.4
|
%
|
|
0.2
|
%
|
|
0.2
|
%
|
|
||
|
100
|
|
Harrisburg-Carlisle, PA
|
|
96
|
|
1
|
|
|
220,288
|
|
|
89.8
|
%
|
|
89.0
|
%
|
|
1,787
|
|
|
9.03
|
|
|
0.2
|
%
|
|
0.3
|
%
|
|
0.2
|
%
|
|
||
|
|
100 Largest MSAs by ABR
|
|
—
|
|
440
|
|
|
76,215,999
|
|
|
93.0
|
%
|
|
91.5
|
%
|
|
834,883
|
|
|
12.55
|
|
|
84.5
|
%
|
|
87.8
|
%
|
|
91.2
|
%
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
Other MSAs
|
|
—
|
|
81
|
|
|
10,612,507
|
|
|
91.0
|
%
|
|
89.8
|
%
|
|
80,737
|
|
|
9.03
|
|
|
15.5
|
%
|
|
12.2
|
%
|
|
8.8
|
%
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
TOTAL
|
|
—
|
|
521
|
|
|
86,828,506
|
|
|
92.8
|
%
|
|
91.3
|
%
|
|
$
|
915,619
|
|
|
$
|
12.14
|
|
|
100.0
|
%
|
|
100.0
|
%
|
|
100.0
|
%
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
37
|
|
PROPERTIES BY STATE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Dollars in thousands except per square foot amounts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Percent of
|
|
|
|
|
|
||||||||||||
|
|
|
|
Number of
|
|
|
|
Percent
|
|
Percent
|
|
|
|
|
|
Number of
|
|
Percent
|
|
Percent
|
|
||||||||||||
|
|
State
|
|
Properties
|
|
GLA
|
|
Leased
|
|
Billed
|
|
ABR
|
|
ABR / SF
|
|
Properties
|
|
of GLA
|
|
of ABR
|
|
||||||||||||
|
1
|
|
Alabama
|
|
4
|
|
|
989,814
|
|
|
93.0
|
%
|
|
92.9
|
%
|
|
$
|
7,015
|
|
|
$
|
7.69
|
|
|
0.8
|
%
|
|
1.1
|
%
|
|
0.8
|
%
|
|
|
2
|
|
Arizona
|
|
2
|
|
|
288,110
|
|
|
85.2
|
%
|
|
82.4
|
%
|
|
2,022
|
|
|
8.24
|
|
|
0.4
|
%
|
|
0.3
|
%
|
|
0.2
|
%
|
|
||
|
3
|
|
California
|
|
29
|
|
|
5,780,124
|
|
|
97.5
|
%
|
|
96.7
|
%
|
|
89,115
|
|
|
16.49
|
|
|
5.6
|
%
|
|
6.7
|
%
|
|
9.7
|
%
|
|
||
|
4
|
|
Colorado
|
|
6
|
|
|
1,478,489
|
|
|
95.6
|
%
|
|
93.4
|
%
|
|
18,266
|
|
|
12.98
|
|
|
1.2
|
%
|
|
1.7
|
%
|
|
2.0
|
%
|
|
||
|
5
|
|
Connecticut
|
|
15
|
|
|
2,266,237
|
|
|
93.0
|
%
|
|
92.4
|
%
|
|
28,524
|
|
|
14.54
|
|
|
2.9
|
%
|
|
2.6
|
%
|
|
3.1
|
%
|
|
||
|
6
|
|
Delaware
|
|
1
|
|
|
191,974
|
|
|
100.0
|
%
|
|
100.0
|
%
|
|
2,303
|
|
|
12.00
|
|
|
0.2
|
%
|
|
0.2
|
%
|
|
0.3
|
%
|
|
||
|
7
|
|
Florida
|
|
58
|
|
|
9,035,525
|
|
|
90.5
|
%
|
|
88.8
|
%
|
|
100,002
|
|
|
12.61
|
|
|
11.1
|
%
|
|
10.4
|
%
|
|
10.9
|
%
|
|
||
|
8
|
|
Georgia
|
|
37
|
|
|
5,288,487
|
|
|
89.1
|
%
|
|
87.9
|
%
|
|
44,671
|
|
|
9.55
|
|
|
7.1
|
%
|
|
6.1
|
%
|
|
4.9
|
%
|
|
||
|
9
|
|
Illinois
|
|
24
|
|
|
4,791,912
|
|
|
92.5
|
%
|
|
90.3
|
%
|
|
49,946
|
|
|
11.82
|
|
|
4.6
|
%
|
|
5.5
|
%
|
|
5.5
|
%
|
|
||
|
10
|
|
Indiana
|
|
12
|
|
|
1,966,959
|
|
|
89.2
|
%
|
|
88.1
|
%
|
|
14,816
|
|
|
8.90
|
|
|
2.3
|
%
|
|
2.3
|
%
|
|
1.6
|
%
|
|
||
|
11
|
|
Iowa
|
|
5
|
|
|
783,917
|
|
|
91.5
|
%
|
|
86.3
|
%
|
|
4,748
|
|
|
7.38
|
|
|
1.0
|
%
|
|
0.9
|
%
|
|
0.5
|
%
|
|
||
|
12
|
|
Kansas
|
|
2
|
|
|
376,292
|
|
|
88.3
|
%
|
|
85.9
|
%
|
|
2,873
|
|
|
11.26
|
|
|
0.4
|
%
|
|
0.4
|
%
|
|
0.3
|
%
|
|
||
|
13
|
|
Kentucky
|
|
12
|
|
|
2,575,550
|
|
|
93.8
|
%
|
|
92.9
|
%
|
|
20,187
|
|
|
8.96
|
|
|
2.3
|
%
|
|
3.0
|
%
|
|
2.2
|
%
|
|
||
|
14
|
|
Louisiana
|
|
4
|
|
|
612,368
|
|
|
94.9
|
%
|
|
91.5
|
%
|
|
3,568
|
|
|
6.14
|
|
|
0.8
|
%
|
|
0.7
|
%
|
|
0.4
|
%
|
|
||
|
15
|
|
Maine
|
|
2
|
|
|
391,746
|
|
|
92.2
|
%
|
|
92.2
|
%
|
|
2,571
|
|
|
13.34
|
|
|
0.4
|
%
|
|
0.5
|
%
|
|
0.3
|
%
|
|
||
|
16
|
|
Maryland
|
|
5
|
|
|
777,424
|
|
|
97.8
|
%
|
|
97.4
|
%
|
|
9,562
|
|
|
12.63
|
|
|
1.0
|
%
|
|
0.9
|
%
|
|
1.0
|
%
|
|
||
|
17
|
|
Massachusetts
|
|
10
|
|
|
1,709,273
|
|
|
93.6
|
%
|
|
92.6
|
%
|
|
18,718
|
|
|
14.57
|
|
|
1.9
|
%
|
|
2.0
|
%
|
|
2.0
|
%
|
|
||
|
18
|
|
Michigan
|
|
19
|
|
|
3,743,589
|
|
|
91.5
|
%
|
|
88.4
|
%
|
|
31,832
|
|
|
10.94
|
|
|
3.6
|
%
|
|
4.3
|
%
|
|
3.5
|
%
|
|
||
|
19
|
|
Minnesota
|
|
10
|
|
|
1,485,108
|
|
|
92.4
|
%
|
|
89.6
|
%
|
|
15,411
|
|
|
11.80
|
|
|
1.9
|
%
|
|
1.7
|
%
|
|
1.7
|
%
|
|
||
|
20
|
|
Mississippi
|
|
3
|
|
|
406,316
|
|
|
78.5
|
%
|
|
78.5
|
%
|
|
3,170
|
|
|
10.09
|
|
|
0.6
|
%
|
|
0.5
|
%
|
|
0.3
|
%
|
|
||
|
21
|
|
Missouri
|
|
6
|
|
|
874,795
|
|
|
92.5
|
%
|
|
91.3
|
%
|
|
6,043
|
|
|
7.59
|
|
|
1.2
|
%
|
|
1.0
|
%
|
|
0.7
|
%
|
|
||
|
22
|
|
Nevada
|
|
3
|
|
|
609,661
|
|
|
92.7
|
%
|
|
89.9
|
%
|
|
7,879
|
|
|
13.95
|
|
|
0.6
|
%
|
|
0.7
|
%
|
|
0.9
|
%
|
|
||
|
23
|
|
New Hampshire
|
|
5
|
|
|
769,577
|
|
|
95.3
|
%
|
|
94.6
|
%
|
|
7,836
|
|
|
13.41
|
|
|
1.0
|
%
|
|
0.9
|
%
|
|
0.9
|
%
|
|
||
|
24
|
|
New Jersey
|
|
17
|
|
|
2,982,931
|
|
|
93.8
|
%
|
|
89.0
|
%
|
|
39,802
|
|
|
15.28
|
|
|
3.3
|
%
|
|
3.4
|
%
|
|
4.3
|
%
|
|
||
|
25
|
|
New Mexico
|
|
2
|
|
|
83,800
|
|
|
100.0
|
%
|
|
100.0
|
%
|
|
919
|
|
|
10.97
|
|
|
0.4
|
%
|
|
0.1
|
%
|
|
0.1
|
%
|
|
||
|
26
|
|
New York
|
|
33
|
|
|
4,351,377
|
|
|
94.4
|
%
|
|
93.8
|
%
|
|
60,834
|
|
|
15.27
|
|
|
6.3
|
%
|
|
5.0
|
%
|
|
6.6
|
%
|
|
||
|
27
|
|
North Carolina
|
|
22
|
|
|
4,405,619
|
|
|
90.7
|
%
|
|
89.5
|
%
|
|
40,103
|
|
|
11.14
|
|
|
4.2
|
%
|
|
5.1
|
%
|
|
4.4
|
%
|
|
||
|
28
|
|
Ohio
|
|
24
|
|
|
4,544,924
|
|
|
91.5
|
%
|
|
90.1
|
%
|
|
42,143
|
|
|
10.71
|
|
|
4.6
|
%
|
|
5.2
|
%
|
|
4.6
|
%
|
|
||
|
29
|
|
Oklahoma
|
|
1
|
|
|
186,851
|
|
|
100.0
|
%
|
|
100.0
|
%
|
|
1,760
|
|
|
9.42
|
|
|
0.2
|
%
|
|
0.2
|
%
|
|
0.2
|
%
|
|
||
|
30
|
|
Pennsylvania
|
|
37
|
|
|
6,061,182
|
|
|
95.9
|
%
|
|
94.7
|
%
|
|
66,928
|
|
|
13.32
|
|
|
7.1
|
%
|
|
7.0
|
%
|
|
7.3
|
%
|
|
||
|
31
|
|
Rhode Island
|
|
1
|
|
|
148,126
|
|
|
99.1
|
%
|
|
99.1
|
%
|
|
1,531
|
|
|
10.43
|
|
|
0.2
|
%
|
|
0.2
|
%
|
|
0.2
|
%
|
|
||
|
32
|
|
South Carolina
|
|
8
|
|
|
1,394,993
|
|
|
87.2
|
%
|
|
82.8
|
%
|
|
12,718
|
|
|
10.65
|
|
|
1.5
|
%
|
|
1.6
|
%
|
|
1.4
|
%
|
|
||
|
33
|
|
Tennessee
|
|
16
|
|
|
3,238,229
|
|
|
94.0
|
%
|
|
92.6
|
%
|
|
28,803
|
|
|
9.91
|
|
|
3.1
|
%
|
|
3.7
|
%
|
|
3.1
|
%
|
|
||
|
34
|
|
Texas
|
|
67
|
|
|
9,548,208
|
|
|
94.1
|
%
|
|
93.2
|
%
|
|
104,089
|
|
|
12.51
|
|
|
12.9
|
%
|
|
11.0
|
%
|
|
11.4
|
%
|
|
||
|
35
|
|
Vermont
|
|
1
|
|
|
224,514
|
|
|
97.7
|
%
|
|
97.7
|
%
|
|
1,902
|
|
|
8.67
|
|
|
0.2
|
%
|
|
0.3
|
%
|
|
0.2
|
%
|
|
||
|
36
|
|
Virginia
|
|
11
|
|
|
1,446,496
|
|
|
89.3
|
%
|
|
89.2
|
%
|
|
13,930
|
|
|
11.34
|
|
|
2.1
|
%
|
|
1.7
|
%
|
|
1.5
|
%
|
|
||
|
37
|
|
West Virginia
|
|
2
|
|
|
251,500
|
|
|
95.4
|
%
|
|
95.4
|
%
|
|
1,969
|
|
|
8.21
|
|
|
0.4
|
%
|
|
0.3
|
%
|
|
0.2
|
%
|
|
||
|
38
|
|
Wisconsin
|
|
5
|
|
|
766,509
|
|
|
92.2
|
%
|
|
87.1
|
%
|
|
7,110
|
|
|
10.07
|
|
|
1.0
|
%
|
|
0.9
|
%
|
|
0.8
|
%
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
TOTAL
|
|
521
|
|
|
86,828,506
|
|
|
92.8
|
%
|
|
91.3
|
%
|
|
$
|
915,619
|
|
|
$
|
12.14
|
|
|
100.0
|
%
|
|
100.0
|
%
|
|
100.0
|
%
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
38
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
39
|
|
PROPERTY LIST
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Dollars in thousands except per square foot amounts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
Year
|
|
|
|
Percent
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
Property Name
|
|
City
|
|
State
|
|
Metropolitan Statistical Area
|
|
Built
|
|
GLA
|
|
Leased
|
|
ABR
|
|
ABR / SF
|
|
Grocer (1)
|
|
Other Major Tenants
|
|
Non-Owned Major Tenants
|
|||||||
50
|
|
|
Turnpike Plaza
|
|
Newington
|
|
CT
|
|
Hartford-West Hartford-East Hartford, CT
|
|
2004
|
|
149,894
|
|
|
100.0
|
%
|
|
2,407
|
|
|
16.06
|
|
|
Price Chopper
|
|
Dick's Sporting Goods
|
|
|
||
51
|
|
|
North Haven Crossing
|
|
North Haven
|
|
CT
|
|
New Haven-Milford, CT
|
|
1993
|
|
104,017
|
|
|
88.4
|
%
|
|
1,602
|
|
|
17.42
|
|
|
—
|
|
Barnes & Noble, Dollar Tree, DSW, PetSmart
|
|
|
||
52
|
|
|
Christmas Tree Plaza
|
|
Orange
|
|
CT
|
|
New Haven-Milford, CT
|
|
1996
|
|
132,791
|
|
|
89.5
|
%
|
|
1,755
|
|
|
14.77
|
|
|
—
|
|
A.C. Moore, Christmas Tree Shops
|
|
|
||
53
|
|
|
Stratford Square
|
|
Stratford
|
|
CT
|
|
Bridgeport-Stamford-Norwalk, CT
|
|
2014
|
|
161,539
|
|
|
88.0
|
%
|
|
1,719
|
|
|
12.09
|
|
|
—
|
|
Marshalls, Regal Cinemas
|
|
|
||
54
|
|
|
Torrington Plaza
|
|
Torrington
|
|
CT
|
|
Torrington, CT
|
|
1994
|
|
125,496
|
|
|
95.2
|
%
|
|
1,219
|
|
|
11.14
|
|
|
—
|
|
Jo-Ann Fabric & Craft Stores, Staples, T.J.Maxx
|
|
|
||
55
|
|
|
Waterbury Plaza
|
|
Waterbury
|
|
CT
|
|
New Haven-Milford, CT
|
|
2000
|
|
183,706
|
|
|
92.6
|
%
|
|
2,220
|
|
|
13.06
|
|
|
Super Stop & Shop (Ahold)
|
|
Pretty Woman
|
|
Target
|
||
56
|
|
|
Waterford Commons
|
|
Waterford
|
|
CT
|
|
Norwich-New London, CT
|
|
2004
|
|
236,800
|
|
|
96.8
|
%
|
|
4,272
|
|
|
18.64
|
|
|
—
|
|
Babies"R"Us, Dick’s Sporting Goods
|
|
Best Buy
|
||
57
|
|
|
North Dover Shopping Center
|
|
Dover
|
|
DE
|
|
Dover, DE
|
|
2013
|
|
191,974
|
|
|
100.0
|
%
|
|
2,303
|
|
|
12.00
|
|
|
Acme (Albertsons)
|
|
Party City, Staples, T.J.Maxx, Toys"R"Us
|
|
|
||
58
|
|
|
Apopka Commons
|
|
Apopka
|
|
FL
|
|
Orlando-Kissimmee-Sanford, FL
|
|
2010
|
|
42,507
|
|
|
81.3
|
%
|
|
456
|
|
|
13.21
|
|
|
—
|
|
Dollar Tree, Staples
|
|
The Home Depot
|
||
59
|
|
|
Brooksville Square
|
|
Brooksville
|
|
FL
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
2013
|
|
156,361
|
|
|
95.3
|
%
|
|
1,580
|
|
|
10.61
|
|
|
Publix
|
|
Sears Outlet
|
|
|
||
60
|
|
|
Coastal Way - Coastal Landing
|
|
Brooksville
|
|
FL
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
2008
|
|
368,098
|
|
|
97.8
|
%
|
|
3,282
|
|
|
12.22
|
|
|
—
|
|
Bed Bath & Beyond, Belk, hhgregg, Marshalls, Michaels, Office Depot, Petco, Sears, Ulta
|
|
|
||
61
|
|
|
Midpoint Center
|
|
Cape Coral
|
|
FL
|
|
Cape Coral-Fort Myers, FL
|
|
2002
|
|
75,386
|
|
|
100.0
|
%
|
|
996
|
|
|
13.21
|
|
|
Publix
|
|
—
|
|
Target
|
||
62
|
|
|
Clearwater Mall
|
|
Clearwater
|
|
FL
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
2012
|
|
300,929
|
|
|
97.1
|
%
|
|
5,989
|
|
|
20.50
|
|
|
Costco*, SuperTarget*
|
|
hhgregg, Michaels, PetSmart, Ross Dress for Less
|
|
Lowe's
|
||
63
|
|
|
Coconut Creek
|
|
Coconut Creek
|
|
FL
|
|
Miami-Fort Lauderdale-West Palm Beach, FL
|
|
2005
|
|
265,671
|
|
|
80.3
|
%
|
|
2,649
|
|
|
12.42
|
|
|
Publix
|
|
Bealls Outlet, Big Lots, Off the Wall Trampoline, Planet Fitness, Rainbow
|
|
|
||
64
|
|
|
Century Plaza Shopping Center
|
|
Deerfield Beach
|
|
FL
|
|
Miami-Fort Lauderdale-West Palm Beach, FL
|
|
2006
|
|
90,238
|
|
|
76.7
|
%
|
|
1,358
|
|
|
19.61
|
|
|
—
|
|
Broward County Library
|
|
|
||
65
|
|
|
Northgate S.C.
|
|
DeLand
|
|
FL
|
|
Deltona-Daytona Beach-Ormond Beach, FL
|
|
1993
|
|
186,396
|
|
|
97.9
|
%
|
|
1,279
|
|
|
7.01
|
|
|
Publix
|
|
—
|
|
|
||
66
|
|
|
Eustis Village
|
|
Eustis
|
|
FL
|
|
Orlando-Kissimmee-Sanford, FL
|
|
2002
|
|
156,927
|
|
|
94.0
|
%
|
|
1,644
|
|
|
11.15
|
|
|
Publix
|
|
Beall's
|
|
|
||
67
|
|
|
First Street Village
|
|
Fort Meyers
|
|
FL
|
|
Cape Coral-Fort Myers, FL
|
|
2006
|
|
54,926
|
|
|
91.2
|
%
|
|
765
|
|
|
15.28
|
|
|
Publix
|
|
—
|
|
|
||
68
|
|
|
Sun Plaza
|
|
Ft. Walton Beach
|
|
FL
|
|
Crestview-Fort Walton Beach-Destin, FL
|
|
2004
|
|
158,118
|
|
|
99.1
|
%
|
|
1,605
|
|
|
10.24
|
|
|
Publix
|
|
Beall's, Books-A-Million, Office Depot, T.J.Maxx
|
|
|
||
69
|
|
|
Normandy Square
|
|
Jacksonville
|
|
FL
|
|
Jacksonville, FL
|
|
1996
|
|
87,240
|
|
|
100.0
|
%
|
|
738
|
|
|
8.46
|
|
|
Winn-Dixie (BI-LO)
|
|
CVS, Family Dollar
|
|
|
||
70
|
|
|
Regency Park
|
|
Jacksonville
|
|
FL
|
|
Jacksonville, FL
|
|
2006
|
|
334,065
|
|
|
78.3
|
%
|
|
2,196
|
|
|
8.40
|
|
|
—
|
|
American Signature Furniture, Bealls Outlet, Books-A-Million, Hobby Lobby
|
|
|
||
71
|
|
|
The Shoppes at Southside
|
|
Jacksonville
|
|
FL
|
|
Jacksonville, FL
|
|
2004
|
|
109,113
|
|
|
100.0
|
%
|
|
2,369
|
|
|
21.71
|
|
|
—
|
|
Best Buy, David's Bridal, Sports Authority
|
|
|
||
72
|
|
|
Ventura Downs
|
|
Kissimmee
|
|
FL
|
|
Orlando-Kissimmee-Sanford, FL
|
|
2005
|
|
98,191
|
|
|
98.9
|
%
|
|
1,249
|
|
|
12.85
|
|
|
Publix Sabor
|
|
—
|
|
|
||
73
|
|
|
Marketplace at Wycliffe
|
|
Lake Worth
|
|
FL
|
|
Miami-Fort Lauderdale-West Palm Beach, FL
|
|
2014
|
|
133,520
|
|
|
92.6
|
%
|
|
1,933
|
|
|
15.63
|
|
|
Walmart Neighborhood Market
|
|
Walgreens
|
|
|
||
74
|
|
|
Venetian Isle Shopping Ctr
|
|
Lighthouse Point
|
|
FL
|
|
Miami-Fort Lauderdale-West Palm Beach, FL
|
|
1992
|
|
180,853
|
|
|
95.0
|
%
|
|
1,744
|
|
|
10.46
|
|
|
Publix
|
|
Dollar Tree, Petco, Staples, Tuesday Morning, T.J.Maxx
|
|
|
||
75
|
|
|
Marco Town Center
|
|
Marco Island
|
|
FL
|
|
Naples-Immokalee-Marco Island, FL
|
|
2001
|
|
109,830
|
|
|
94.7
|
%
|
|
2,081
|
|
|
20.00
|
|
|
Publix
|
|
—
|
|
|
||
76
|
|
|
Mall at 163rd Street
|
|
Miami
|
|
FL
|
|
Miami-Fort Lauderdale-West Palm Beach, FL
|
|
2007
|
|
370,132
|
|
|
76.4
|
%
|
|
4,052
|
|
|
17.39
|
|
|
Walmart Supercenter*
|
|
Annas Linens, Marshalls, Office Depot, Ross Dress for Less
|
|
|
||
77
|
|
|
Miami Gardens
|
|
Miami
|
|
FL
|
|
Miami-Fort Lauderdale-West Palm Beach, FL
|
|
1996
|
|
244,719
|
|
|
100.0
|
%
|
|
2,527
|
|
|
10.32
|
|
|
Winn-Dixie (BI-LO)
|
|
Ross Dress for Less
|
|
|
||
78
|
|
|
Freedom Square
|
|
Naples
|
|
FL
|
|
Naples-Immokalee-Marco Island, FL
|
|
1995
|
|
211,839
|
|
|
100.0
|
%
|
|
1,912
|
|
|
9.03
|
|
|
Publix
|
|
—
|
|
|
||
79
|
|
|
Naples Plaza
|
|
Naples
|
|
FL
|
|
Naples-Immokalee-Marco Island, FL
|
|
2013
|
|
200,820
|
|
|
100.0
|
%
|
|
3,383
|
|
|
17.14
|
|
|
Publix
|
|
Marshalls, Office Depot, PGA TOUR Superstore
|
|
|
||
80
|
|
|
Park Shore Shopping Center
|
|
Naples
|
|
FL
|
|
Naples-Immokalee-Marco Island, FL
|
|
2014
|
|
232,820
|
|
|
95.5
|
%
|
|
1,959
|
|
|
8.81
|
|
|
The Fresh Market
|
|
Big Lots, Burlington Stores, HomeGoods, YouFit Health Club
|
|
|
||
81
|
|
|
Chelsea Place
|
|
New Port Richey
|
|
FL
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
1992
|
|
81,144
|
|
|
95.1
|
%
|
|
863
|
|
|
11.19
|
|
|
Publix
|
|
Zone Fitness Club
|
|
|
||
82
|
|
|
Southgate
|
|
New Port Richey
|
|
FL
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
2012
|
|
238,838
|
|
|
93.9
|
%
|
|
2,115
|
|
|
9.88
|
|
|
Publix
|
|
Bealls Outlet, Big Lots, Old Time Pottery, You Fit
|
|
|
||
83
|
|
|
Presidential Plaza
|
|
North Lauderdale
|
|
FL
|
|
Miami-Fort Lauderdale-West Palm Beach, FL
|
|
2006
|
|
88,306
|
|
|
81.7
|
%
|
|
719
|
|
|
9.96
|
|
|
Sedano's
|
|
Family Dollar
|
|
|
||
84
|
|
|
Fashion Square
|
|
Orange Park
|
|
FL
|
|
Jacksonville, FL
|
|
1996
|
|
36,029
|
|
|
50.4
|
%
|
|
379
|
|
|
29.37
|
|
|
—
|
|
Miller's Orange Park Ale House, Ruby Tuesday, Samurai Japanese Steakhouse
|
|
|
||
85
|
|
|
Colonial Marketplace
|
|
Orlando
|
|
FL
|
|
Orlando-Kissimmee-Sanford, FL
|
|
2014
|
|
141,069
|
|
|
100.0
|
%
|
|
2,287
|
|
|
16.21
|
|
|
—
|
|
Burlington Stores, LA Fitness
|
|
Target
|
||
86
|
|
|
Conway Crossing
|
|
Orlando
|
|
FL
|
|
Orlando-Kissimmee-Sanford, FL
|
|
2002
|
|
76,321
|
|
|
98.7
|
%
|
|
932
|
|
|
12.37
|
|
|
Publix
|
|
—
|
|
|
||
87
|
|
|
Hunters Creek
|
|
Orlando
|
|
FL
|
|
Orlando-Kissimmee-Sanford, FL
|
|
1998
|
|
73,204
|
|
|
98.2
|
%
|
|
1,097
|
|
|
15.26
|
|
|
—
|
|
Office Depot
|
|
|
||
88
|
|
|
Pointe Orlando
|
|
Orlando
|
|
FL
|
|
Orlando-Kissimmee-Sanford, FL
|
|
2014
|
|
408,098
|
|
|
83.9
|
%
|
|
7,133
|
|
|
22.11
|
|
|
—
|
|
Regal Cinemas
|
|
|
||
89
|
|
|
Martin Downs Town Center
|
|
Palm City
|
|
FL
|
|
Port St. Lucie, FL
|
|
1996
|
|
64,546
|
|
|
100.0
|
%
|
|
824
|
|
|
12.77
|
|
|
Publix
|
|
—
|
|
|
||
90
|
|
|
Martin Downs Village Center
|
|
Palm City
|
|
FL
|
|
Port St. Lucie, FL
|
|
1987
|
|
161,388
|
|
|
82.1
|
%
|
|
2,359
|
|
|
17.80
|
|
|
—
|
|
Goodwill, Martin Memorial, Walgreens
|
|
|
||
91
|
|
|
23rd Street Station
|
|
Panama City
|
|
FL
|
|
Panama City, FL
|
|
1995
|
|
98,827
|
|
|
91.2
|
%
|
|
1,062
|
|
|
11.78
|
|
|
Publix
|
|
—
|
|
|
||
92
|
|
|
Panama City Square
|
|
Panama City
|
|
FL
|
|
Panama City, FL
|
|
2014
|
|
298,685
|
|
|
100.0
|
%
|
|
2,371
|
|
|
7.94
|
|
|
Walmart Supercenter
|
|
Big Lots, Harbor Freight Tools, Sports Authority, T.J.Maxx
|
|
|
||
93
|
|
|
Pensacola Square
|
|
Pensacola
|
|
FL
|
|
Pensacola-Ferry Pass-Brent, FL
|
|
1995
|
|
142,767
|
|
|
83.2
|
%
|
|
1,076
|
|
|
9.68
|
|
|
—
|
|
Beall's, Big Lots, Sears Home Appliance Showroom
|
|
Hobby Lobby
|
||
94
|
|
|
Shopper's Haven Shopping Ctr
|
|
Pompano Beach
|
|
FL
|
|
Miami-Fort Lauderdale-West Palm Beach, FL
|
|
1998
|
|
206,791
|
|
|
96.9
|
%
|
|
2,597
|
|
|
13.37
|
|
|
Winn-Dixie (BI-LO)
|
|
A.C. Moore, Bealls Outlet, Bed Bath & Beyond, Party City, YouFit Health Club
|
|
|
||
95
|
|
|
East Port Plaza
|
|
Port St. Lucie
|
|
FL
|
|
Port St. Lucie, FL
|
|
1991
|
|
162,831
|
|
|
83.8
|
%
|
|
1,816
|
|
|
13.30
|
|
|
Publix
|
|
Fortis Institute, Walgreens
|
|
|
||
96
|
|
|
Shoppes of Victoria Square
|
|
Port St. Lucie
|
|
FL
|
|
Port St. Lucie, FL
|
|
1990
|
|
95,243
|
|
|
90.1
|
%
|
|
1,046
|
|
|
12.19
|
|
|
Winn-Dixie (BI-LO)
|
|
Dollar Tree
|
|
|
||
97
|
|
|
Lake St. Charles
|
|
Riverview
|
|
FL
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
1999
|
|
57,015
|
|
|
95.4
|
%
|
|
558
|
|
|
10.27
|
|
|
Winn-Dixie (BI-LO)
|
|
—
|
|
|
||
98
|
|
|
Cobblestone Village I and II
|
|
Royal Palm Beach
|
FL
|
|
Miami-Fort Lauderdale-West Palm Beach, FL
|
|
2005
|
|
39,404
|
|
|
93.2
|
%
|
|
669
|
|
|
18.24
|
|
|
SuperTarget*
|
|
Blue Fish Restaurant, The Zoo Health Club
|
|
|
|||
99
|
|
|
Beneva Village Shops
|
|
Sarasota
|
|
FL
|
|
North Port-Sarasota-Bradenton, FL
|
|
1987
|
|
141,532
|
|
|
85.6
|
%
|
|
1,398
|
|
|
11.53
|
|
|
Publix
|
|
Harbor Freight Tools, Walgreens, YouFit Health Club
|
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
40
|
|
PROPERTY LIST
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Dollars in thousands except per square foot amounts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
Year
|
|
|
|
Percent
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
Property Name
|
|
City
|
|
State
|
|
Metropolitan Statistical Area
|
|
Built
|
|
GLA
|
|
Leased
|
|
ABR
|
|
ABR / SF
|
|
Grocer (1)
|
|
Other Major Tenants
|
|
Non-Owned Major Tenants
|
|||||||
100
|
|
|
Sarasota Village
|
|
Sarasota
|
|
FL
|
|
North Port-Sarasota-Bradenton, FL
|
|
2011
|
|
173,184
|
|
|
99.0
|
%
|
|
1,940
|
|
|
11.60
|
|
|
Publix
|
|
Big Lots, Crunch Fitness, HomeGoods
|
|
|
||
101
|
|
|
Atlantic Plaza
|
|
Satellite Beach
|
|
FL
|
|
Palm Bay-Melbourne-Titusville, FL
|
|
2008
|
|
128,405
|
|
|
72.5
|
%
|
|
1,176
|
|
|
24.77
|
|
|
Publix
|
|
—
|
|
|
||
102
|
|
|
Seminole Plaza
|
|
Seminole
|
|
FL
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
1995
|
|
146,579
|
|
|
95.1
|
%
|
|
912
|
|
|
6.55
|
|
|
—
|
|
Burlington Stores, T.J.Maxx
|
|
|
||
103
|
|
|
Cobblestone Village
|
|
St. Augustine
|
|
FL
|
|
Jacksonville, FL
|
|
2003
|
|
261,081
|
|
|
87.5
|
%
|
|
2,954
|
|
|
12.93
|
|
|
Publix
|
|
Beall's, Bed Bath & Beyond, Michaels, Petco
|
|
|
||
104
|
|
|
Dolphin Village
|
|
St. Pete Beach
|
|
FL
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
1990
|
|
136,224
|
|
|
81.7
|
%
|
|
1,511
|
|
|
13.59
|
|
|
Publix
|
|
CVS, Dollar Tree
|
|
|
||
105
|
|
|
Bay Point Plaza
|
|
St. Petersburg
|
|
FL
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
2002
|
|
103,986
|
|
|
82.4
|
%
|
|
886
|
|
|
10.33
|
|
|
Publix
|
|
Beall's
|
|
|
||
106
|
|
|
Rutland Plaza
|
|
St. Petersburg
|
|
FL
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
2002
|
|
149,562
|
|
|
92.9
|
%
|
|
1,135
|
|
|
8.17
|
|
|
Winn-Dixie (BI-LO)
|
|
Beall’s, Big Lots
|
|
|
||
107
|
|
|
Skyway Plaza
|
|
St. Petersburg
|
|
FL
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
2002
|
|
110,799
|
|
|
91.6
|
%
|
|
869
|
|
|
8.56
|
|
|
—
|
|
Dollar Tree
|
|
|
||
108
|
|
|
Tyrone Gardens
|
|
St. Petersburg
|
|
FL
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
1998
|
|
209,337
|
|
|
78.9
|
%
|
|
1,420
|
|
|
8.59
|
|
|
Winn-Dixie (BI-LO)
|
|
Beall's, Big Lots, Chuck E. Cheese’s
|
|
|
||
109
|
|
|
Downtown Publix
|
|
Stuart
|
|
FL
|
|
Port St. Lucie, FL
|
|
2000
|
|
153,246
|
|
|
70.0
|
%
|
|
1,123
|
|
|
10.47
|
|
|
Publix
|
|
Family Dollar
|
|
|
||
110
|
|
|
Sunrise Town Center
|
|
Sunrise
|
|
FL
|
|
Miami-Fort Lauderdale-West Palm Beach, FL
|
|
1989
|
|
110,109
|
|
|
91.2
|
%
|
|
1,211
|
|
|
12.06
|
|
|
Patel Brothers
|
|
Dollar Tree, LA Fitness
|
|
Walmart
|
||
111
|
|
|
Carrollwood Center
|
|
Tampa
|
|
FL
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
2002
|
|
93,673
|
|
|
96.1
|
%
|
|
1,335
|
|
|
14.83
|
|
|
Publix
|
|
Rarehues
|
|
|
||
112
|
|
|
Ross Plaza
|
|
Tampa
|
|
FL
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
1996
|
|
90,625
|
|
|
91.4
|
%
|
|
1,088
|
|
|
13.14
|
|
|
—
|
|
Deal$, Ross Dress for Less
|
|
|
||
113
|
|
|
Tarpon Mall
|
|
Tarpon Springs
|
|
FL
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
2003
|
|
145,832
|
|
|
100.0
|
%
|
|
2,120
|
|
|
14.54
|
|
|
Publix
|
|
Petco, T.J.Maxx
|
|
|
||
114
|
|
|
Venice Plaza
|
|
Venice
|
|
FL
|
|
North Port-Sarasota-Bradenton, FL
|
|
1999
|
|
132,345
|
|
|
91.9
|
%
|
|
777
|
|
|
6.39
|
|
|
Winn-Dixie (BI-LO)
|
|
Pet Supermarket, T.J.Maxx
|
|
|
||
115
|
|
|
Venice Shopping Center
|
|
Venice
|
|
FL
|
|
North Port-Sarasota-Bradenton, FL
|
|
2000
|
|
109,801
|
|
|
80.3
|
%
|
|
501
|
|
|
5.68
|
|
|
Publix
|
|
Beall's
|
|
|
||
116
|
|
|
Governors Town Square
|
|
Acworth
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
2005
|
|
68,658
|
|
|
98.0
|
%
|
|
1,129
|
|
|
16.79
|
|
|
Publix
|
|
—
|
|
|
||
117
|
|
|
Albany Plaza
|
|
Albany
|
|
GA
|
|
Albany, GA
|
|
1995
|
|
114,169
|
|
|
75.1
|
%
|
|
544
|
|
|
6.34
|
|
|
Harveys (BI-LO)
|
|
Big Lots, OK Beauty & Fashions Outlet
|
|
|
||
118
|
|
|
Mansell Crossing
|
|
Alpharetta
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
2014
|
|
332,364
|
|
|
99.2
|
%
|
|
5,020
|
|
|
15.23
|
|
|
—
|
|
AMC Theatres, Barnes & Noble, DSW, Macy's Furniture Gallery, REI, Sports Authority, T.J.Maxx
|
|
Toys"R"Us
|
||
119
|
|
|
Perlis Plaza
|
|
Americus
|
|
GA
|
|
Americus, GA
|
|
1972
|
|
165,315
|
|
|
84.6
|
%
|
|
769
|
|
|
5.50
|
|
|
—
|
|
Belk, Roses
|
|
|
||
120
|
|
|
Northeast Plaza
|
|
Atlanta
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
2013
|
|
442,200
|
|
|
92.2
|
%
|
|
3,996
|
|
|
9.93
|
|
|
City Farmers Market
|
|
Atlanta Ballroom Dance Club, dd's Discounts, Goodwill
|
|
|
||
121
|
|
|
Augusta West Plaza
|
|
Augusta
|
|
GA
|
|
Augusta-Richmond County, GA-SC
|
|
2006
|
|
207,823
|
|
|
70.5
|
%
|
|
1,081
|
|
|
7.38
|
|
|
—
|
|
Burlington Stores, Dollar Tree
|
|
|
||
122
|
|
|
Sweetwater Village
|
|
Austell
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
1985
|
|
66,197
|
|
|
99.1
|
%
|
|
469
|
|
|
7.15
|
|
|
Food Depot
|
|
Family Dollar
|
|
|
||
123
|
|
|
Vineyards at Chateau Elan
|
|
Braselton
|
|
GA
|
|
—
|
|
2002
|
|
79,047
|
|
|
84.1
|
%
|
|
911
|
|
|
13.70
|
|
|
Publix
|
|
—
|
|
|
||
124
|
|
|
Cedar Plaza
|
|
Cedartown
|
|
GA
|
|
Cedartown, GA
|
|
1994
|
|
83,300
|
|
|
76.5
|
%
|
|
531
|
|
|
8.34
|
|
|
Kroger
|
|
—
|
|
|
||
125
|
|
|
Conyers Plaza
|
|
Conyers
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
2001
|
|
171,374
|
|
|
95.3
|
%
|
|
1,837
|
|
|
11.25
|
|
|
Walmart Supercenter*
|
|
Jo-Ann Fabric & Craft Stores, PetSmart, Value Village
|
|
The Home Depot
|
||
126
|
|
|
Cordele Square
|
|
Cordele
|
|
GA
|
|
Cordele, GA
|
|
2002
|
|
127,953
|
|
|
82.6
|
%
|
|
653
|
|
|
6.18
|
|
|
Harveys (BI-LO)
|
|
Belk, Citi Trends, Cordele Theatres
|
|
|
||
127
|
|
|
Covington Gallery
|
|
Covington
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
1991
|
|
174,857
|
|
|
89.8
|
%
|
|
993
|
|
|
6.33
|
|
|
Ingles
|
|
Kmart
|
|
|
||
128
|
|
|
Salem Road Station
|
|
Covington
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
2000
|
|
67,270
|
|
|
89.0
|
%
|
|
655
|
|
|
10.93
|
|
|
Publix
|
|
—
|
|
|
||
129
|
|
|
Keith Bridge Commons
|
|
Cumming
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
2002
|
|
94,886
|
|
|
89.3
|
%
|
|
1,093
|
|
|
12.90
|
|
|
Kroger
|
|
Anytime Fitness
|
|
|
||
130
|
|
|
Northside
|
|
Dalton
|
|
GA
|
|
Dalton, GA
|
|
2001
|
|
73,931
|
|
|
86.3
|
%
|
|
489
|
|
|
7.66
|
|
|
BI-LO
|
|
Family Dollar
|
|
|
||
131
|
|
|
Cosby Station
|
|
Douglasville
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
1994
|
|
77,811
|
|
|
94.0
|
%
|
|
804
|
|
|
10.99
|
|
|
Publix
|
|
—
|
|
|
||
132
|
|
|
Park Plaza
|
|
Douglasville
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
1986
|
|
46,494
|
|
|
76.8
|
%
|
|
520
|
|
|
14.58
|
|
|
Kroger*
|
|
—
|
|
|
||
133
|
|
|
Dublin Village
|
|
Dublin
|
|
GA
|
|
Dublin, GA
|
|
2005
|
|
98,540
|
|
|
93.9
|
%
|
|
669
|
|
|
7.23
|
|
|
Kroger
|
|
—
|
|
|
||
134
|
|
|
Westgate
|
|
Dublin
|
|
GA
|
|
Dublin, GA
|
|
2004
|
|
118,938
|
|
|
87.6
|
%
|
|
601
|
|
|
5.99
|
|
|
Harveys (BI-LO)
|
|
Beall's, Big Lots
|
|
The Home Depot
|
||
135
|
|
|
Venture Pointe
|
|
Duluth
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
2012
|
|
155,172
|
|
|
97.1
|
%
|
|
1,627
|
|
|
10.81
|
|
|
—
|
|
American Signature Furniture, Ollie's Bargain Outlet, Studio Movie Grill
|
|
|
||
136
|
|
|
Banks Station
|
|
Fayetteville
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
2006
|
|
176,451
|
|
|
83.8
|
%
|
|
1,145
|
|
|
8.98
|
|
|
Food Depot
|
|
Cinemark, Staples
|
|
|
||
137
|
|
|
Barrett Place
|
|
Kennesaw
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
1994
|
|
218,818
|
|
|
100.0
|
%
|
|
2,133
|
|
|
9.75
|
|
|
—
|
|
Best Buy, Michaels, OfficeMax, PetSmart, Sports Authority, The Furniture Mall
|
|
|
||
138
|
|
|
Shops of Huntcrest
|
|
Lawrenceville
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
2003
|
|
97,040
|
|
|
97.7
|
%
|
|
1,236
|
|
|
13.04
|
|
|
Publix
|
|
—
|
|
|
||
139
|
|
|
Mableton Walk
|
|
Mableton
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
1994
|
|
105,884
|
|
|
81.1
|
%
|
|
1,044
|
|
|
12.15
|
|
|
Publix
|
|
—
|
|
|
||
140
|
|
|
The Village at Mableton
|
|
Mableton
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
2014
|
|
239,013
|
|
|
78.6
|
%
|
|
690
|
|
|
3.80
|
|
|
—
|
|
Dollar Tree, Kmart, Ollie's Bargain Outlet
|
|
|
||
141
|
|
|
North Park
|
|
Macon
|
|
GA
|
|
Macon, GA
|
|
2013
|
|
216,795
|
|
|
98.3
|
%
|
|
1,303
|
|
|
6.11
|
|
|
Kroger
|
|
Kmart
|
|
|
||
142
|
|
|
Marshalls at Eastlake
|
|
Marietta
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
1982
|
|
54,976
|
|
|
86.2
|
%
|
|
398
|
|
|
8.40
|
|
|
—
|
|
Marshalls
|
|
|
||
143
|
|
|
New Chastain Corners
|
|
Marietta
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
2004
|
|
113,079
|
|
|
80.5
|
%
|
|
925
|
|
|
10.15
|
|
|
Kroger
|
|
—
|
|
|
||
144
|
|
|
Pavilions at Eastlake
|
|
Marietta
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
1996
|
|
157,888
|
|
|
87.1
|
%
|
|
1,650
|
|
|
12.01
|
|
|
Kroger
|
|
J. Christopher's
|
|
|
||
145
|
|
|
Perry Marketplace
|
|
Perry
|
|
GA
|
|
Warner Robins, GA
|
|
2004
|
|
179,973
|
|
|
78.4
|
%
|
|
969
|
|
|
6.87
|
|
|
Kroger
|
|
Ace Hardware, Beall's Outlet, Goody's
|
|
|
||
146
|
|
|
Creekwood Village
|
|
Rex
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
1990
|
|
69,778
|
|
|
94.8
|
%
|
|
558
|
|
|
8.43
|
|
|
Food Depot
|
|
—
|
|
|
||
147
|
|
|
Shops of Riverdale
|
|
Riverdale
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
1995
|
|
16,808
|
|
|
100.0
|
%
|
|
288
|
|
|
17.14
|
|
|
Walmart Supercenter*
|
|
—
|
|
|
||
148
|
|
|
Holcomb Bridge Crossing
|
|
Roswell
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
1988
|
|
105,420
|
|
|
97.4
|
%
|
|
987
|
|
|
9.61
|
|
|
—
|
|
PGA TOUR Superstore
|
|
|
||
149
|
|
|
Victory Square
|
|
Savannah
|
|
GA
|
|
Savannah, GA
|
|
2007
|
|
122,739
|
|
|
100.0
|
%
|
|
1,800
|
|
|
15.01
|
|
|
SuperTarget*
|
|
Citi Trends, Dollar Tree, Frank Theatres, Staples
|
|
The Home Depot
|
||
150
|
|
|
Stockbridge Village
|
|
Stockbridge
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
2008
|
|
188,155
|
|
|
78.9
|
%
|
|
2,173
|
|
|
14.63
|
|
|
Kroger
|
|
—
|
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
41
|
|
PROPERTY LIST
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Dollars in thousands except per square foot amounts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
Year
|
|
|
|
Percent
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
Property Name
|
|
City
|
|
State
|
|
Metropolitan Statistical Area
|
|
Built
|
|
GLA
|
|
Leased
|
|
ABR
|
|
ABR / SF
|
|
Grocer (1)
|
|
Other Major Tenants
|
|
Non-Owned Major Tenants
|
|||||||
151
|
|
|
Stone Mountain Festival
|
|
Stone Mountain
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
2006
|
|
347,091
|
|
|
95.6
|
%
|
|
1,901
|
|
|
5.73
|
|
|
Walmart Supercenter
|
|
Hobby Lobby, NCG Cinemas
|
|
|
||
152
|
|
|
Wilmington Island
|
|
Wilmington Island
|
|
GA
|
|
Savannah, GA
|
|
2014
|
|
112,280
|
|
|
86.0
|
%
|
|
1,080
|
|
|
11.18
|
|
|
Kroger
|
|
—
|
|
|
||
153
|
|
|
Davenport Retail Center
|
|
Davenport
|
|
IA
|
|
Davenport-Moline-Rock Island, IA-IL
|
|
1996
|
|
62,588
|
|
|
100.0
|
%
|
|
720
|
|
|
11.50
|
|
|
SuperTarget*
|
|
Party City, PetSmart, Staples
|
|
|
||
154
|
|
|
Kimberly West Shopping Center
|
|
Davenport
|
|
IA
|
|
Davenport-Moline-Rock Island, IA-IL
|
|
1987
|
|
113,713
|
|
|
89.9
|
%
|
|
626
|
|
|
6.12
|
|
|
Hy-Vee
|
|
—
|
|
|
||
155
|
|
|
Haymarket Mall
|
|
Des Moines
|
|
IA
|
|
Des Moines-West Des Moines, IA
|
|
2002
|
|
241,572
|
|
|
96.8
|
%
|
|
1,233
|
|
|
5.56
|
|
|
—
|
|
Burlington Stores, Hobby Lobby
|
|
|
||
156
|
|
|
Haymarket Square
|
|
Des Moines
|
|
IA
|
|
Des Moines-West Des Moines, IA
|
|
2002
|
|
269,705
|
|
|
83.7
|
%
|
|
1,420
|
|
|
8.69
|
|
|
Dahl's Foods
|
|
Big Lots, Northern Tool + Equipment, Office Depot
|
|
|
||
157
|
|
|
Warren Plaza
|
|
Dubuque
|
|
IA
|
|
Dubuque, IA
|
|
1993
|
|
96,339
|
|
|
96.7
|
%
|
|
750
|
|
|
8.05
|
|
|
Hy-Vee
|
|
—
|
|
Target
|
||
158
|
|
|
Annex of Arlington
|
|
Arlington Heights
|
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
2012
|
|
193,175
|
|
|
93.0
|
%
|
|
2,800
|
|
|
15.59
|
|
|
Trader Joe's
|
|
Barnes & Noble, Binny's Beverage Depot, hhgregg, Petco
|
|
|
||
159
|
|
|
Ridge Plaza
|
|
Arlington Heights
|
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
2000
|
|
151,643
|
|
|
90.5
|
%
|
|
1,926
|
|
|
14.04
|
|
|
—
|
|
Savers, XSport Fitness
|
|
Kohl's
|
||
160
|
|
|
Bartonville Square
|
|
Bartonville
|
|
IL
|
|
Peoria, IL
|
|
2001
|
|
61,678
|
|
|
93.0
|
%
|
|
303
|
|
|
5.61
|
|
|
Kroger
|
|
—
|
|
|
||
161
|
|
|
Festival Center
|
|
Bradley
|
|
IL
|
|
Kankakee, IL
|
|
2006
|
|
63,796
|
|
|
76.7
|
%
|
|
294
|
|
|
6.02
|
|
|
—
|
|
Big Lots, Dollar General
|
|
|
||
162
|
|
|
Southfield Plaza
|
|
Bridgeview
|
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
2006
|
|
198,331
|
|
|
94.7
|
%
|
|
2,056
|
|
|
10.95
|
|
|
Shop 'n Save
|
|
Hobby Lobby, Walgreen's
|
|
|
||
163
|
|
|
Commons of Chicago Ridge
|
|
Chicago Ridge
|
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
1998
|
|
324,977
|
|
|
95.7
|
%
|
|
3,831
|
|
|
13.27
|
|
|
—
|
|
Marshalls, Office Depot, The Home Depot, XSport Fitness
|
|
|
||
164
|
|
|
Rivercrest Shopping Center
|
|
Crestwood
|
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
2013
|
|
488,680
|
|
|
90.9
|
%
|
|
5,190
|
|
|
13.01
|
|
|
Ultra Foods
|
|
Best Buy, Party City, PetSmart, Ross Dress for Less, T.J.Maxx
|
|
|
||
165
|
|
|
The Commons of Crystal Lake
|
|
Crystal Lake
|
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
2014
|
|
273,060
|
|
|
86.3
|
%
|
|
2,560
|
|
|
10.86
|
|
|
Jewel-Osco (Albertsons)
|
|
Burlington Stores
|
|
Hobby Lobby
|
||
166
|
|
|
Elk Grove Town Center
|
|
Elk Grove Village
|
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
1998
|
|
131,849
|
|
|
93.1
|
%
|
|
1,961
|
|
|
15.99
|
|
|
Joe Caputo & Sons Fruit Market
|
|
Walgreens
|
|
|
||
167
|
|
|
Crossroads Centre
|
|
Fairview Heights
|
|
IL
|
|
St. Louis, MO-IL
|
|
1975
|
|
242,198
|
|
|
86.7
|
%
|
|
1,925
|
|
|
11.15
|
|
|
—
|
|
Big Lots, Hobby Lobby, T.J.Maxx
|
|
|
||
168
|
|
|
Frankfort Crossing Shopping Center
|
Frankfort
|
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
1992
|
|
114,534
|
|
|
96.8
|
%
|
|
1,388
|
|
|
12.52
|
|
|
Jewel-Osco (Albertsons)
|
|
Ace Hardware
|
|
|
|||
169
|
|
|
Freeport Plaza
|
|
Freeport
|
|
IL
|
|
Freeport, IL
|
|
2000
|
|
87,846
|
|
|
100.0
|
%
|
|
570
|
|
|
6.49
|
|
|
Cub Foods (Supervalu)
|
|
Stone's Hallmark
|
|
|
||
170
|
|
|
Westview Center
|
|
Hanover Park
|
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
2014
|
|
326,372
|
|
|
95.8
|
%
|
|
2,539
|
|
|
8.39
|
|
|
Tony's Finer Foods
|
|
Big Lots, LA Fitness
|
|
Value City
|
||
171
|
|
|
The Quentin Collection
|
|
Kildeer
|
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
2006
|
|
171,530
|
|
|
100.0
|
%
|
|
2,854
|
|
|
16.64
|
|
|
The Fresh Market
|
|
Best Buy, DSW, PetSmart, Stein Mart
|
|
|
||
172
|
|
|
Butterfield Square
|
|
Libertyville
|
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
2013
|
|
106,755
|
|
|
98.8
|
%
|
|
1,558
|
|
|
14.77
|
|
|
Sunset Foods
|
|
—
|
|
|
||
173
|
|
|
High Point Centre
|
|
Lombard
|
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
1992
|
|
240,046
|
|
|
81.9
|
%
|
|
1,951
|
|
|
9.93
|
|
|
Ultra Foods
|
|
Babies"R"Us, Jo-Ann Fabric & Craft Stores, Office Depot
|
|
|
||
174
|
|
|
Long Meadow Commons
|
|
Mundelein
|
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
1997
|
|
118,470
|
|
|
87.1
|
%
|
|
1,529
|
|
|
16.12
|
|
|
—
|
|
—
|
|
|
||
175
|
|
|
Westridge Court
|
|
Naperville
|
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
2013
|
|
673,082
|
|
|
94.9
|
%
|
|
6,959
|
|
|
10.90
|
|
|
—
|
|
Big Lots, buybuy BABY, Carson Pirie Scott Furniture Gallery, Gordmans, hhgregg, Hollywood Palms Cinema, Marshalls, Old Navy, Savers, Ulta
|
|
|
||
176
|
|
|
Sterling Bazaar
|
|
Peoria
|
|
IL
|
|
Peoria, IL
|
|
1992
|
|
87,359
|
|
|
95.0
|
%
|
|
791
|
|
|
10.10
|
|
|
Kroger
|
|
—
|
|
|
||
177
|
|
|
Rollins Crossing
|
|
Round Lake Beach
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
1998
|
|
193,591
|
|
|
94.8
|
%
|
|
1,934
|
|
|
17.45
|
|
|
—
|
|
LA Fitness, Regal Cinemas
|
|
|
|||
178
|
|
|
Twin Oaks Shopping Center
|
|
Silvis
|
|
IL
|
|
Davenport-Moline-Rock Island, IA-IL
|
|
1991
|
|
114,342
|
|
|
96.4
|
%
|
|
710
|
|
|
6.44
|
|
|
Hy-Vee
|
|
Eye Surgeons Associates
|
|
|
||
179
|
|
|
Parkway Pointe
|
|
Springfield
|
|
IL
|
|
Springfield, IL
|
|
1994
|
|
38,737
|
|
|
85.9
|
%
|
|
575
|
|
|
17.26
|
|
|
ALDI*
|
|
dressbarn, Family Christian Stores, Shoe Carnival
|
|
Target, Walmart
|
||
180
|
|
|
Sangamon Center North
|
|
Springfield
|
|
IL
|
|
Springfield, IL
|
|
1996
|
|
139,907
|
|
|
94.9
|
%
|
|
1,243
|
|
|
9.36
|
|
|
Schnucks
|
|
U.S. Post Office
|
|
|
||
181
|
|
|
Tinley Park Plaza
|
|
Tinley Park
|
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
2005
|
|
249,954
|
|
|
90.5
|
%
|
|
2,499
|
|
|
11.05
|
|
|
Walt's Fine Foods
|
|
Tile Shop
|
|
|
||
182
|
|
|
Meridian Village Plaza
|
|
Carmel
|
|
IN
|
|
Indianapolis-Carmel-Anderson, IN
|
|
1990
|
|
130,769
|
|
|
90.0
|
%
|
|
731
|
|
|
9.40
|
|
|
—
|
|
Godby Home Furnishings, Ollie's Bargain Outlet
|
|
|
||
183
|
|
|
Columbus Center
|
|
Columbus
|
|
IN
|
|
Columbus, IN
|
|
2005
|
|
143,703
|
|
|
99.5
|
%
|
|
1,502
|
|
|
10.50
|
|
|
—
|
|
Big Lots, MC Sports, OfficeMax, T.J.Maxx
|
|
Target
|
||
184
|
|
|
Elkhart Plaza West
|
|
Elkhart
|
|
IN
|
|
Elkhart-Goshen, IN
|
|
1997
|
|
81,651
|
|
|
94.9
|
%
|
|
608
|
|
|
7.85
|
|
|
Martin's Super Market
|
|
CVS
|
|
|
||
185
|
|
|
Apple Glen Crossing
|
|
Fort Wayne
|
|
IN
|
|
Fort Wayne, IN
|
|
2002
|
|
150,163
|
|
|
96.5
|
%
|
|
1,903
|
|
|
16.51
|
|
|
Walmart Supercenter*
|
|
Best Buy, Dick's Sporting Goods, PetSmart
|
|
Kohl's
|
||
186
|
|
|
Elkhart Market Centre
|
|
Goshen
|
|
IN
|
|
Elkhart-Goshen, IN
|
|
1994
|
|
363,883
|
|
|
98.4
|
%
|
|
2,248
|
|
|
6.28
|
|
|
Sam's Club
|
|
Walmart
|
|
|
||
187
|
|
|
Marwood Plaza
|
|
Indianapolis
|
|
IN
|
|
Indianapolis-Carmel-Anderson, IN
|
|
1992
|
|
107,080
|
|
|
70.9
|
%
|
|
606
|
|
|
7.98
|
|
|
Kroger
|
|
—
|
|
|
||
188
|
|
|
Westlane Shopping Center
|
|
Indianapolis
|
|
IN
|
|
Indianapolis-Carmel-Anderson, IN
|
|
1982
|
|
71,490
|
|
|
97.5
|
%
|
|
484
|
|
|
6.95
|
|
|
Marsh Supermarket
|
|
Family Dollar
|
|
|
||
189
|
|
|
Valley View Plaza
|
|
Marion
|
|
IN
|
|
Marion, IN
|
|
1997
|
|
29,974
|
|
|
79.0
|
%
|
|
306
|
|
|
12.94
|
|
|
Walmart Supercenter*
|
|
Aaron's
|
|
|
||
190
|
|
|
Bittersweet Plaza
|
|
Mishawaka
|
|
IN
|
|
South Bend-Mishawaka, IN-MI
|
|
2000
|
|
91,798
|
|
|
91.3
|
%
|
|
726
|
|
|
8.66
|
|
|
Martin's Super Market
|
|
—
|
|
|
||
191
|
|
|
Lincoln Plaza
|
|
New Haven
|
|
IN
|
|
Fort Wayne, IN
|
|
1968
|
|
103,938
|
|
|
58.4
|
%
|
|
501
|
|
|
8.25
|
|
|
Kroger
|
|
—
|
|
|
||
192
|
|
|
Speedway Super Center
|
|
Speedway
|
|
IN
|
|
Indianapolis-Carmel-Anderson, IN
|
|
2010
|
|
574,210
|
|
|
85.9
|
%
|
|
4,157
|
|
|
8.77
|
|
|
Kroger
|
|
Kohl's, Sears Outlet, T.J.Maxx
|
|
|
||
193
|
|
|
Sagamore Park Centre
|
|
West Lafayette
|
|
IN
|
|
Lafayette-West Lafayette, IN
|
|
2003
|
|
118,300
|
|
|
88.7
|
%
|
|
1,043
|
|
|
9.94
|
|
|
Pay Less (Kroger)
|
|
—
|
|
|
||
194
|
|
|
Westchester Square
|
|
Lenexa
|
|
KS
|
|
Kansas City, MO-KS
|
|
1987
|
|
164,838
|
|
|
80.5
|
%
|
|
1,170
|
|
|
8.81
|
|
|
Hy-Vee
|
|
—
|
|
|
||
195
|
|
|
West Loop Shopping Center
|
|
Manhattan
|
|
KS
|
|
Manhattan, KS
|
|
2013
|
|
211,454
|
|
|
94.3
|
%
|
|
1,703
|
|
|
13.92
|
|
|
Dillons (Kroger)
|
|
Bellus Academy, Jo-Ann Fabric & Craft Stores, Marshalls
|
|
|
||
196
|
|
|
Green River Plaza
|
|
Campbellsville
|
|
KY
|
|
Campbellsville, KY
|
|
1989
|
|
203,239
|
|
|
96.5
|
%
|
|
1,297
|
|
|
6.62
|
|
|
Kroger
|
|
Burke's Outlet, Goody’s, JC Penney, Jo-Ann Fabric & Craft Stores, Tractor Supply Co.
|
|
|
||
197
|
|
|
Kmart Plaza
|
|
Elizabethtown
|
|
KY
|
|
Elizabethtown-Fort Knox, KY
|
|
1992
|
|
130,466
|
|
|
100.0
|
%
|
|
863
|
|
|
6.61
|
|
|
—
|
|
Kmart, Staples
|
|
|
||
198
|
|
|
Florence Plaza - Florence Square
|
|
Florence
|
|
KY
|
|
Cincinnati, OH-KY-IN
|
|
2014
|
|
678,522
|
|
|
90.7
|
%
|
|
5,979
|
|
|
12.72
|
|
|
Kroger
|
|
Barnes & Noble, Harbor Freight Tools, Hobby Lobby, Old Navy, Ollie's Bargain Outlet, Staples, T.J.Maxx
|
|
|
||
199
|
|
|
Highland Commons
|
|
Glasgow
|
|
KY
|
|
Glasgow, KY
|
|
1992
|
|
130,466
|
|
|
98.9
|
%
|
|
747
|
|
|
5.79
|
|
|
Food Lion
|
|
Kmart
|
|
|
||
200
|
|
|
Jeffersontown Commons
|
|
Jeffersontown
|
|
KY
|
|
Louisville/Jefferson County, KY-IN
|
|
2005
|
|
208,374
|
|
|
85.9
|
%
|
|
1,555
|
|
|
9.21
|
|
|
—
|
|
King Pin Lanes, Louisville Athletic Club
|
|
|
||
201
|
|
|
Mist Lake Plaza
|
|
Lexington
|
|
KY
|
|
Lexington-Fayette, KY
|
|
1993
|
|
217,292
|
|
|
95.5
|
%
|
|
1,469
|
|
|
7.08
|
|
|
—
|
|
Gabriel Brothers, Walmart
|
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
42
|
|
PROPERTY LIST
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Dollars in thousands except per square foot amounts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
Year
|
|
|
|
Percent
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
Property Name
|
|
City
|
|
State
|
|
Metropolitan Statistical Area
|
|
Built
|
|
GLA
|
|
Leased
|
|
ABR
|
|
ABR / SF
|
|
Grocer (1)
|
|
Other Major Tenants
|
|
Non-Owned Major Tenants
|
|||||||
202
|
|
|
London Marketplace
|
|
London
|
|
KY
|
|
London, KY
|
|
1994
|
|
169,032
|
|
|
100.0
|
%
|
|
1,110
|
|
|
6.57
|
|
|
Kroger
|
|
Burke's Outlet, Kmart
|
|
|
||
203
|
|
|
Eastgate Shopping Center
|
|
Louisville
|
|
KY
|
|
Louisville/Jefferson County, KY-IN
|
|
2002
|
|
174,947
|
|
|
96.5
|
%
|
|
1,653
|
|
|
9.79
|
|
|
Kroger
|
|
—
|
|
|
||
204
|
|
|
Plainview Village
|
|
Louisville
|
|
KY
|
|
Louisville/Jefferson County, KY-IN
|
|
1997
|
|
165,467
|
|
|
83.8
|
%
|
|
1,316
|
|
|
10.09
|
|
|
Kroger
|
|
—
|
|
|
||
205
|
|
|
Stony Brook I & II
|
|
Louisville
|
|
KY
|
|
Louisville/Jefferson County, KY-IN
|
|
1988
|
|
136,916
|
|
|
91.0
|
%
|
|
1,617
|
|
|
12.97
|
|
|
Kroger
|
|
—
|
|
|
||
206
|
|
|
Towne Square North
|
|
Owensboro
|
|
KY
|
|
Owensboro, KY
|
|
1988
|
|
163,161
|
|
|
100.0
|
%
|
|
1,175
|
|
|
7.20
|
|
|
—
|
|
Books-A-Million, Hobby Lobby, Office Depot
|
|
|
||
207
|
|
|
Lexington Road Plaza
|
|
Versailles
|
|
KY
|
|
Lexington-Fayette, KY
|
|
2007
|
|
197,668
|
|
|
98.6
|
%
|
|
1,407
|
|
|
7.22
|
|
|
Kroger
|
|
Kmart
|
|
|
||
208
|
|
|
Karam Shopping Center
|
|
Lafayette
|
|
LA
|
|
Lafayette, LA
|
|
2014
|
|
100,238
|
|
|
83.8
|
%
|
|
277
|
|
|
3.29
|
|
|
Super 1 Foods
|
|
Conn's
|
|
|
||
209
|
|
|
Iberia Plaza
|
|
New Iberia
|
|
LA
|
|
Lafayette, LA
|
|
1992
|
|
131,731
|
|
|
96.5
|
%
|
|
730
|
|
|
5.74
|
|
|
Super 1 Foods
|
|
—
|
|
|
||
210
|
|
|
Lagniappe Village
|
|
New Iberia
|
|
LA
|
|
Lafayette, LA
|
|
2010
|
|
201,360
|
|
|
96.9
|
%
|
|
1,484
|
|
|
7.61
|
|
|
—
|
|
Big Lots, Citi Trends, Stage, T.J.Maxx
|
|
|
||
211
|
|
|
The Pines
|
|
Pineville
|
|
LA
|
|
Alexandria, LA
|
|
1991
|
|
179,039
|
|
|
97.8
|
%
|
|
1,077
|
|
|
6.15
|
|
|
Super 1 Foods
|
|
Kmart
|
|
|
||
212
|
|
|
Points West
|
|
Brockton
|
|
MA
|
|
Boston-Cambridge-Newton, MA-NH
|
|
2007
|
|
133,432
|
|
|
97.4
|
%
|
|
1,034
|
|
|
7.96
|
|
|
PriceRite (ShopRite)
|
|
Ocean State Job Lot
|
|
|
||
213
|
|
|
Burlington Square I, II & III
|
|
Burlington
|
|
MA
|
|
Boston-Cambridge-Newton, MA-NH
|
|
1992
|
|
86,290
|
|
|
100.0
|
%
|
|
2,048
|
|
|
23.74
|
|
|
—
|
|
Golf Galaxy, Pyara Aveda Spa & Salon, Staples
|
|
|
||
214
|
|
|
Chicopee Marketplace
|
|
Chicopee
|
|
MA
|
|
Springfield, MA
|
|
2005
|
|
150,959
|
|
|
100.0
|
%
|
|
2,488
|
|
|
17.07
|
|
|
Walmart Supercenter*
|
|
Marshalls, Staples
|
|
|
||
215
|
|
|
Holyoke Shopping Center
|
|
Holyoke
|
|
MA
|
|
Springfield, MA
|
|
2000
|
|
201,875
|
|
|
91.7
|
%
|
|
1,410
|
|
|
11.14
|
|
|
Super Stop & Shop (Ahold)
|
|
Ocean State Job Lot
|
|
|
||
216
|
|
|
WaterTower Plaza
|
|
Leominster
|
|
MA
|
|
Worcester, MA-CT
|
|
2000
|
|
282,591
|
|
|
98.3
|
%
|
|
3,851
|
|
|
13.86
|
|
|
Shaw's (Albertsons)
|
|
Ocean State Job Lot, T.J.Maxx
|
|
|
||
217
|
|
|
Lunenberg Crossing
|
|
Lunenburg
|
|
MA
|
|
Worcester, MA-CT
|
|
1994
|
|
25,515
|
|
|
29.4
|
%
|
|
153
|
|
|
20.34
|
|
|
Hannaford Bros. (Delhaize)*
|
|
—
|
|
Walmart
|
||
218
|
|
|
Lynn Marketplace
|
|
Lynn
|
|
MA
|
|
Boston-Cambridge-Newton, MA-NH
|
|
1968
|
|
78,092
|
|
|
100.0
|
%
|
|
1,091
|
|
|
13.98
|
|
|
Shaw's (Albertsons)
|
|
Rainbow
|
|
|
||
219
|
|
|
Berkshire Crossing
|
|
Pittsfield
|
|
MA
|
|
Pittsfield, MA
|
|
1994
|
|
442,578
|
|
|
99.9
|
%
|
|
3,803
|
|
|
19.54
|
|
|
Price Chopper
|
|
Barnes & Noble, Michaels, Staples, The Home Depot, Ulta, Walmart
|
|
|
||
220
|
|
|
Westgate Plaza
|
|
Westfield
|
|
MA
|
|
Springfield, MA
|
|
1996
|
|
103,903
|
|
|
98.7
|
%
|
|
1,131
|
|
|
11.36
|
|
|
—
|
|
Ocean State Job Lot, Staples, T.J.Maxx
|
|
|
||
221
|
|
|
Perkins Farm Marketplace
|
|
Worcester
|
|
MA
|
|
Worcester, MA-CT
|
|
1998
|
|
204,038
|
|
|
67.9
|
%
|
|
1,708
|
|
|
12.33
|
|
|
Super Stop & Shop (Ahold)
|
|
CW Price
|
|
|
||
222
|
|
|
South Plaza Shopping Center
|
|
California
|
|
MD
|
|
California-Lexington Park, MD
|
|
2005
|
|
92,335
|
|
|
100.0
|
%
|
|
1,665
|
|
|
18.03
|
|
|
—
|
|
Best Buy, Old Navy, Petco, Ross Dress for Less
|
|
|
||
223
|
|
|
Campus Village
|
|
College Park
|
|
MD
|
|
Washington-Arlington-Alexandria, DC-VA-MD-WV
|
1986
|
|
25,529
|
|
|
93.5
|
%
|
|
640
|
|
|
26.81
|
|
|
—
|
|
—
|
|
|
|||
224
|
|
|
Fox Run
|
|
Prince Frederick
|
|
MD
|
|
Washington-Arlington-Alexandria, DC-VA-MD-WV
|
1997
|
|
292,849
|
|
|
96.5
|
%
|
|
2,892
|
|
|
10.24
|
|
|
Giant Food (Ahold)
|
|
Jo-Ann Fabric & Craft Stores, Kmart, Peebles
|
|
|
|||
225
|
|
|
Liberty Plaza
|
|
Randallstown
|
|
MD
|
|
Baltimore-Columbia-Towson, MD
|
|
2012
|
|
219,862
|
|
|
99.5
|
%
|
|
2,617
|
|
|
11.96
|
|
|
Walmart Supercenter
|
|
Marshalls
|
|
|
||
226
|
|
|
Rising Sun Towne Centre
|
|
Rising Sun
|
|
MD
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
2013
|
|
146,849
|
|
|
97.3
|
%
|
|
1,747
|
|
|
12.53
|
|
|
Martin's Food (Ahold)
|
|
Big Lots
|
|
|
|||
227
|
|
|
BJ's Plaza
|
|
Portland
|
|
ME
|
|
Portland-South Portland, ME
|
|
1991
|
|
104,233
|
|
|
100.0
|
%
|
|
803
|
|
|
7.70
|
|
|
BJ’s Wholesale Club
|
|
—
|
|
|
||
228
|
|
|
Pine Tree Shopping Center
|
|
Portland
|
|
ME
|
|
Portland-South Portland, ME
|
|
1958
|
|
287,513
|
|
|
89.4
|
%
|
|
1,769
|
|
|
19.97
|
|
|
—
|
|
Big Lots, Lowe's
|
|
|
||
229
|
|
|
Maple Village
|
|
Ann Arbor
|
|
MI
|
|
Ann Arbor, MI
|
|
2000
|
|
293,525
|
|
|
98.3
|
%
|
|
2,546
|
|
|
8.83
|
|
|
Plum Market
|
|
Dunham's Sports
|
|
|
||
230
|
|
|
Grand Crossing
|
|
Brighton
|
|
MI
|
|
Detroit-Warren-Dearborn, MI
|
|
2005
|
|
85,389
|
|
|
94.6
|
%
|
|
817
|
|
|
10.11
|
|
|
VG's Food (SpartanNash)
|
|
ACO Hardware
|
|
|
||
231
|
|
|
Farmington Crossroads
|
|
Farmington
|
|
MI
|
|
Detroit-Warren-Dearborn, MI
|
|
2013
|
|
87,391
|
|
|
93.6
|
%
|
|
784
|
|
|
9.58
|
|
|
—
|
|
Dollar Tree, Ollie's Bargain Outlet, True Value
|
|
|
||
232
|
|
|
Silver Pointe Shopping Center
|
|
Fenton
|
|
MI
|
|
Flint, MI
|
|
1996
|
|
163,919
|
|
|
78.2
|
%
|
|
1,611
|
|
|
12.57
|
|
|
VG's Food (SpartanNash)
|
|
Dunham's Sports
|
|
|
||
233
|
|
|
Cascade East
|
|
Grand Rapids
|
|
MI
|
|
Grand Rapids-Wyoming, MI
|
|
1983
|
|
99,529
|
|
|
84.4
|
%
|
|
669
|
|
|
7.97
|
|
|
D&W Fresh Market (SpartanNash)
|
|
—
|
|
|
||
234
|
|
|
Delta Center
|
|
Lansing
|
|
MI
|
|
Lansing-East Lansing, MI
|
|
2005
|
|
186,246
|
|
|
95.4
|
%
|
|
1,362
|
|
|
8.12
|
|
|
—
|
|
Bed Bath & Beyond, Gift & Bible Center, Hobby Lobby, Planet Fitness
|
|
|
||
235
|
|
|
Lakes Crossing
|
|
Muskegon
|
|
MI
|
|
Muskegon, MI
|
|
2011
|
|
114,623
|
|
|
81.4
|
%
|
|
1,265
|
|
|
14.84
|
|
|
—
|
|
Jo-Ann Fabric & Craft Stores, Party City
|
|
Kohl's
|
||
236
|
|
|
Redford Plaza
|
|
Redford
|
|
MI
|
|
Detroit-Warren-Dearborn, MI
|
|
1992
|
|
304,175
|
|
|
87.7
|
%
|
|
2,424
|
|
|
9.08
|
|
|
Kroger
|
|
Burlington Stores, CW Price
|
|
|
||
237
|
|
|
Hampton Village Centre
|
|
Rochester Hills
|
|
MI
|
|
Detroit-Warren-Dearborn, MI
|
|
2004
|
|
454,719
|
|
|
99.1
|
%
|
|
5,612
|
|
|
16.33
|
|
|
—
|
|
Best Buy, Emagine Theatre, Kohl's, T.J.Maxx
|
|
Target
|
||
238
|
|
|
Fashion Corners
|
|
Saginaw
|
|
MI
|
|
Saginaw, MI
|
|
2004
|
|
187,832
|
|
|
95.5
|
%
|
|
1,734
|
|
|
9.67
|
|
|
—
|
|
Bed Bath & Beyond, Best Buy, Dunham's Sports
|
|
|
||
239
|
|
|
Green Acres
|
|
Saginaw
|
|
MI
|
|
Saginaw, MI
|
|
2011
|
|
281,646
|
|
|
68.9
|
%
|
|
1,355
|
|
|
12.62
|
|
|
Kroger
|
|
Ollie's Bargain Outlet, Planet Fitness
|
|
|
||
240
|
|
|
Hall Road Crossing
|
|
Shelby Township
|
|
MI
|
|
Detroit-Warren-Dearborn, MI
|
|
1999
|
|
175,503
|
|
|
100.0
|
%
|
|
2,312
|
|
|
13.18
|
|
|
—
|
|
Gander Mountain, Michaels, Old Navy, T.J.Maxx
|
|
|
||
241
|
|
|
Southfield Plaza
|
|
Southfield
|
|
MI
|
|
Detroit-Warren-Dearborn, MI
|
|
2002
|
|
106,948
|
|
|
76.6
|
%
|
|
936
|
|
|
11.42
|
|
|
—
|
|
Dollar Castle, Planet Fitness
|
|
Burlington Stores
|
||
242
|
|
|
18 Ryan
|
|
Sterling Heights
|
|
MI
|
|
Detroit-Warren-Dearborn, MI
|
|
1997
|
|
101,709
|
|
|
100.0
|
%
|
|
1,432
|
|
|
14.08
|
|
|
VG's Food (SpartanNash)
|
|
O'Reilly Auto Parts, Planet Fitness
|
|
|
||
243
|
|
|
Delco Plaza
|
|
Sterling Heights
|
|
MI
|
|
Detroit-Warren-Dearborn, MI
|
|
1996
|
|
154,853
|
|
|
100.0
|
%
|
|
885
|
|
|
5.72
|
|
|
—
|
|
Babies"R"Us, Bed Bath & Beyond, Dunham's Mega Sports
|
|
|
||
244
|
|
|
Grand Traverse Crossing
|
|
Traverse City
|
|
MI
|
|
Traverse City, MI
|
|
1996
|
|
412,755
|
|
|
96.9
|
%
|
|
2,646
|
|
|
27.57
|
|
|
Walmart Supercenter
|
|
Books-A-Million, The Home Depot
|
|
|
||
245
|
|
|
West Ridge
|
|
Westland
|
|
MI
|
|
Detroit-Warren-Dearborn, MI
|
|
2014
|
|
162,817
|
|
|
75.5
|
%
|
|
918
|
|
|
7.47
|
|
|
—
|
|
Bargain Club, Office Solutions
|
|
Burlington Stores, Target
|
||
246
|
|
|
Roundtree Place
|
|
Ypsilanti
|
|
MI
|
|
Ann Arbor, MI
|
|
1992
|
|
246,620
|
|
|
99.2
|
%
|
|
1,701
|
|
|
6.95
|
|
|
—
|
|
Ollie's Bargain Outlet, Walmart
|
|
|
||
247
|
|
|
Washtenaw Fountain Plaza
|
|
Ypsilanti
|
|
MI
|
|
Ann Arbor, MI
|
|
2005
|
|
123,390
|
|
|
95.5
|
%
|
|
822
|
|
|
6.98
|
|
|
Save-A-Lot
|
|
Dollar Tree, Dunham's Sports, Planet Fitness
|
|
|
||
248
|
|
|
Southport Centre I - VI
|
|
Apple Valley
|
|
MN
|
|
Minneapolis-St. Paul-Bloomington, MN-WI
|
|
1985
|
|
124,937
|
|
|
99.0
|
%
|
|
2,027
|
|
|
16.38
|
|
|
SuperTarget*
|
|
Best Buy, Dollar Tree, Walgreens
|
|
|
||
249
|
|
|
Austin Town Center
|
|
Austin
|
|
MN
|
|
Austin, MN
|
|
1999
|
|
110,680
|
|
|
73.3
|
%
|
|
556
|
|
|
6.85
|
|
|
ALDI
|
|
Jo-Ann Fabric & Craft Stores
|
|
Target
|
||
250
|
|
|
Burning Tree Plaza
|
|
Duluth
|
|
MN
|
|
Duluth, MN-WI
|
|
1987
|
|
182,969
|
|
|
99.3
|
%
|
|
1,912
|
|
|
10.52
|
|
|
—
|
|
Best Buy, Dunham's Sports, T.J.Maxx
|
|
|
||
251
|
|
|
Elk Park Center
|
|
Elk River
|
|
MN
|
|
Minneapolis-St. Paul-Bloomington, MN-WI
|
|
1999
|
|
204,992
|
|
|
93.3
|
%
|
|
1,928
|
|
|
10.08
|
|
|
Cub Foods (Jerry's Foods)
|
|
OfficeMax
|
|
|
||
252
|
|
|
Westwind Plaza
|
|
Minnetonka
|
|
MN
|
|
Minneapolis-St. Paul-Bloomington, MN-WI
|
|
2007
|
|
87,942
|
|
|
100.0
|
%
|
|
1,292
|
|
|
14.69
|
|
|
Cub Foods (Supervalu)*
|
|
—
|
|
|
||
253
|
|
|
Richfield Hub & West Shopping Ctr
|
|
Richfield
|
|
MN
|
|
Minneapolis-St. Paul-Bloomington, MN-WI
|
|
1992
|
|
215,334
|
|
|
94.2
|
%
|
|
2,396
|
|
|
11.82
|
|
|
Rainbow Foods (Jerry's Foods)
|
|
Marshalls, Michaels
|
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
43
|
|
PROPERTY LIST
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Dollars in thousands except per square foot amounts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
Year
|
|
|
|
Percent
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
Property Name
|
|
City
|
|
State
|
|
Metropolitan Statistical Area
|
|
Built
|
|
GLA
|
|
Leased
|
|
ABR
|
|
ABR / SF
|
|
Grocer (1)
|
|
Other Major Tenants
|
|
Non-Owned Major Tenants
|
|||||||
254
|
|
|
Roseville Center
|
|
Roseville
|
|
MN
|
|
Minneapolis-St. Paul-Bloomington, MN-WI
|
|
2000
|
|
76,894
|
|
|
75.3
|
%
|
|
835
|
|
|
14.41
|
|
|
Cub Foods (Supervalu)*
|
|
Dollar Tree, Hancock Fabrics
|
|
|
||
255
|
|
|
Marketplace @ 42
|
|
Savage
|
|
MN
|
|
Minneapolis-St. Paul-Bloomington, MN-WI
|
|
1999
|
|
117,873
|
|
|
90.0
|
%
|
|
1,430
|
|
|
13.48
|
|
|
—
|
|
—
|
|
|
||
256
|
|
|
Sun Ray Shopping Center
|
|
St. Paul
|
|
MN
|
|
Minneapolis-St. Paul-Bloomington, MN-WI
|
|
2013
|
|
290,392
|
|
|
91.6
|
%
|
|
2,339
|
|
|
11.68
|
|
|
Cub Foods (Supervalu)
|
|
Blast Fitness, T.J.Maxx, Valu Thrift Store
|
|
|
||
257
|
|
|
White Bear Hills Shopping Center
|
|
White Bear Lake
|
|
MN
|
|
Minneapolis-St. Paul-Bloomington, MN-WI
|
|
1996
|
|
73,095
|
|
|
100.0
|
%
|
|
697
|
|
|
9.53
|
|
|
Festival Foods
|
|
Dollar Tree
|
|
|
||
258
|
|
|
Ellisville Square
|
|
Ellisville
|
|
MO
|
|
St. Louis, MO-IL
|
|
2014
|
|
148,940
|
|
|
89.5
|
%
|
|
1,130
|
|
|
8.48
|
|
|
—
|
|
Lukas Liquors, Michaels, Party City, The Sports Authority
|
|
|
||
259
|
|
|
Clocktower Place
|
|
Florissant
|
|
MO
|
|
St. Louis, MO-IL
|
|
2013
|
|
207,317
|
|
|
91.7
|
%
|
|
1,306
|
|
|
6.98
|
|
|
ALDI
|
|
Florissant Furniture & Rug Gallery, Office Depot, Ross Dress for Less
|
|
|
||
260
|
|
|
Hub Shopping Center
|
|
Independence
|
|
MO
|
|
Kansas City, MO-KS
|
|
1995
|
|
160,423
|
|
|
92.9
|
%
|
|
803
|
|
|
5.76
|
|
|
Price Chopper
|
|
—
|
|
|
||
261
|
|
|
Watts Mill Plaza
|
|
Kansas City
|
|
MO
|
|
Kansas City, MO-KS
|
|
1997
|
|
161,717
|
|
|
97.0
|
%
|
|
1,434
|
|
|
9.14
|
|
|
Price Chopper
|
|
Ace Hardware
|
|
|
||
262
|
|
|
Liberty Corners
|
|
Liberty
|
|
MO
|
|
Kansas City, MO-KS
|
|
1987
|
|
124,808
|
|
|
91.4
|
%
|
|
915
|
|
|
8.02
|
|
|
Price Chopper
|
|
—
|
|
|
||
263
|
|
|
Maplewood Square
|
|
Maplewood
|
|
MO
|
|
St. Louis, MO-IL
|
|
1998
|
|
71,590
|
|
|
91.5
|
%
|
|
455
|
|
|
6.95
|
|
|
Shop 'n Save (Supervalu)
|
|
—
|
|
|
||
264
|
|
|
Clinton Crossing
|
|
Clinton
|
|
MS
|
|
Jackson, MS
|
|
1990
|
|
112,148
|
|
|
99.0
|
%
|
|
1,055
|
|
|
9.79
|
|
|
Kroger
|
|
—
|
|
|
||
265
|
|
|
County Line Plaza
|
|
Jackson
|
|
MS
|
|
Jackson, MS
|
|
2014
|
|
221,127
|
|
|
66.8
|
%
|
|
1,774
|
|
|
12.00
|
|
|
—
|
|
Conn's, Kirkland's, Tuesday Morning
|
|
|
||
266
|
|
|
Jacksonian Plaza
|
|
Jackson
|
|
MS
|
|
Jackson, MS
|
|
1990
|
|
73,041
|
|
|
82.5
|
%
|
|
341
|
|
|
5.82
|
|
|
Kroger*
|
|
Books-A-Million, Office Depot
|
|
|
||
267
|
|
|
Devonshire Place
|
|
Cary
|
|
NC
|
|
Raleigh, NC
|
|
2012
|
|
106,680
|
|
|
100.0
|
%
|
|
1,425
|
|
|
24.82
|
|
|
—
|
|
Dollar Tree, Golf Galaxy, REI
|
|
|
||
268
|
|
|
McMullen Creek Market
|
|
Charlotte
|
|
NC
|
|
Charlotte-Concord-Gastonia, NC-SC
|
|
2014
|
|
265,763
|
|
|
85.0
|
%
|
|
2,756
|
|
|
12.20
|
|
|
Walmart Neighborhood Market
|
|
Burlington Stores, Dollar Tree, Rugged Warehouse
|
|
|
||
269
|
|
|
The Commons at Chancellor Park
|
|
Charlotte
|
|
NC
|
|
Charlotte-Concord-Gastonia, NC-SC
|
|
2005
|
|
348,604
|
|
|
73.0
|
%
|
|
1,600
|
|
|
10.75
|
|
|
—
|
|
Big Lots, The Home Depot, Value City Furniture
|
|
|
||
270
|
|
|
Parkwest Crossing
|
|
Durham
|
|
NC
|
|
Durham-Chapel Hill, NC
|
|
1990
|
|
85,602
|
|
|
94.9
|
%
|
|
814
|
|
|
10.03
|
|
|
Food Lion
|
|
Dollar Tree
|
|
|
||
271
|
|
|
Macon Plaza
|
|
Franklin
|
|
NC
|
|
—
|
|
2001
|
|
92,787
|
|
|
86.9
|
%
|
|
442
|
|
|
5.48
|
|
|
BI-LO
|
|
Peebles
|
|
|
||
272
|
|
|
Garner Towne Square
|
|
Garner
|
|
NC
|
|
Raleigh, NC
|
|
1997
|
|
184,347
|
|
|
92.0
|
%
|
|
2,069
|
|
|
12.20
|
|
|
Kroger
|
|
OfficeMax, PetSmart
|
|
Target, The Home Depot
|
||
273
|
|
|
Franklin Square
|
|
Gastonia
|
|
NC
|
|
Charlotte-Concord-Gastonia, NC-SC
|
|
2007
|
|
318,435
|
|
|
88.2
|
%
|
|
2,949
|
|
|
11.77
|
|
|
Walmart Supercenter*
|
|
Bed Bath & Beyond, Best Buy, Michaels, OfficeMax, Ross Dress for Less
|
|
|
||
274
|
|
|
Wendover Place
|
|
Greensboro
|
|
NC
|
|
Greensboro-High Point, NC
|
|
2000
|
|
406,768
|
|
|
97.8
|
%
|
|
4,594
|
|
|
11.55
|
|
|
—
|
|
Babies"R"Us, Christmas Tree Shops, Dick's Sporting Goods, Kohl's, Michaels, Old Navy, PetSmart
|
|
Ross Dress for Less, Target
|
||
275
|
|
|
University Commons
|
|
Greenville
|
|
NC
|
|
Greenville, NC
|
|
2014
|
|
233,153
|
|
|
100.0
|
%
|
|
3,019
|
|
|
12.95
|
|
|
Harris Teeter (Kroger)
|
|
A.C. Moore, Barnes & Noble, Petco, T.J.Maxx
|
|
Target
|
||
276
|
|
|
Valley Crossing
|
|
Hickory
|
|
NC
|
|
Hickory-Lenoir-Morganton, NC
|
|
2014
|
|
191,431
|
|
|
100.0
|
%
|
|
1,678
|
|
|
8.76
|
|
|
—
|
|
Academy Sports + Outdoors, Annas Linen's, Harbor Freight Tools, Ollie's Bargain Outlet
|
|
|
||
277
|
|
|
Kinston Pointe
|
|
Kinston
|
|
NC
|
|
Kinston, NC
|
|
2001
|
|
250,580
|
|
|
98.5
|
%
|
|
828
|
|
|
13.56
|
|
|
Walmart Supercenter
|
|
Dollar Tree
|
|
|
||
278
|
|
|
Magnolia Plaza
|
|
Morganton
|
|
NC
|
|
Hickory-Lenoir-Morganton, NC
|
|
1990
|
|
104,539
|
|
|
35.6
|
%
|
|
206
|
|
|
5.53
|
|
|
Ingles
|
|
—
|
|
|
||
279
|
|
|
Roxboro Square
|
|
Roxboro
|
|
NC
|
|
Durham-Chapel Hill, NC
|
|
2005
|
|
97,226
|
|
|
97.2
|
%
|
|
1,221
|
|
|
13.80
|
|
|
—
|
|
Person County Health & Human Services
|
|
|
||
280
|
|
|
Innes Street Market
|
|
Salisbury
|
|
NC
|
|
Charlotte-Concord-Gastonia, NC-SC
|
|
2002
|
|
349,425
|
|
|
97.7
|
%
|
|
3,650
|
|
|
10.69
|
|
|
Food Lion
|
|
Lowe's, Marshalls, Old Navy, PetSmart, Staples, Tinseltown
|
|
|
||
281
|
|
|
Salisbury Marketplace
|
|
Salisbury
|
|
NC
|
|
Charlotte-Concord-Gastonia, NC-SC
|
|
1987
|
|
79,732
|
|
|
70.3
|
%
|
|
595
|
|
|
10.62
|
|
|
Food Lion
|
|
Family Dollar
|
|
|
||
282
|
|
|
Crossroads
|
|
Statesville
|
|
NC
|
|
Charlotte-Concord-Gastonia, NC-SC
|
|
1997
|
|
340,189
|
|
|
97.8
|
%
|
|
1,919
|
|
|
5.77
|
|
|
Walmart Supercenter
|
|
Big Lots, Burke's Outlet, Tractor Supply
|
|
|
||
283
|
|
|
Anson Station
|
|
Wadesboro
|
|
NC
|
|
—
|
|
1988
|
|
132,353
|
|
|
63.9
|
%
|
|
548
|
|
|
6.48
|
|
|
Food Lion
|
|
Goody's, Tractor Supply Co.
|
|
|
||
284
|
|
|
New Centre Market
|
|
Wilmington
|
|
NC
|
|
Wilmington, NC
|
|
1998
|
|
143,762
|
|
|
96.4
|
%
|
|
1,806
|
|
|
13.41
|
|
|
—
|
|
Marshalls, OfficeMax, PetSmart
|
|
Target
|
||
285
|
|
|
University Commons
|
|
Wilmington
|
|
NC
|
|
Wilmington, NC
|
|
2007
|
|
235,345
|
|
|
98.5
|
%
|
|
3,215
|
|
|
13.87
|
|
|
Lowes Foods
|
|
A.C. Moore, HomeGoods, T.J.Maxx
|
|
|
||
286
|
|
|
Whitaker Square
|
|
Winston Salem
|
|
NC
|
|
Winston-Salem, NC
|
|
1996
|
|
82,760
|
|
|
98.3
|
%
|
|
1,071
|
|
|
13.16
|
|
|
Harris Teeter (Kroger)
|
|
Rugged Wearhouse
|
|
|
||
287
|
|
|
Parkway Plaza
|
|
Winston-Salem
|
|
NC
|
|
Winston-Salem, NC
|
|
2005
|
|
283,830
|
|
|
91.1
|
%
|
|
2,735
|
|
|
11.13
|
|
|
Super Compare Foods
|
|
Big Lots, Citi Trends, Office Depot
|
|
|
||
288
|
|
|
Stratford Commons
|
|
Winston-Salem
|
|
NC
|
|
Winston-Salem, NC
|
|
1995
|
|
72,308
|
|
|
94.8
|
%
|
|
963
|
|
|
14.05
|
|
|
—
|
|
Golf Galaxy, Mattress Firm, OfficeMax
|
|
|
||
289
|
|
|
Bedford Grove
|
|
Bedford
|
|
NH
|
|
Manchester-Nashua, NH
|
|
1989
|
|
216,941
|
|
|
96.2
|
%
|
|
1,912
|
|
|
21.33
|
|
|
Hannaford Bros. (Delhaize)
|
|
Walmart
|
|
|
||
290
|
|
|
Capitol Shopping Center
|
|
Concord
|
|
NH
|
|
Concord, NH
|
|
2001
|
|
182,887
|
|
|
100.0
|
%
|
|
1,967
|
|
|
11.01
|
|
|
DeMoulas Supermarkets
|
|
Burlington Stores, Jo-Ann Fabric & Craft Stores, Marshalls
|
|
|
||
291
|
|
|
Willow Springs Plaza
|
|
Nashua
|
|
NH
|
|
Manchester-Nashua, NH
|
|
1990
|
|
131,248
|
|
|
100.0
|
%
|
|
2,120
|
|
|
17.61
|
|
|
—
|
|
JC Penney, Jordan's Warehouse, NAMCO, Petco
|
|
The Home Depot
|
||
292
|
|
|
Seacoast Shopping Center
|
|
Seabrook
|
|
NH
|
|
Boston-Cambridge-Newton, MA-NH
|
|
1991
|
|
91,690
|
|
|
84.5
|
%
|
|
753
|
|
|
12.06
|
|
|
—
|
|
Jo-Ann Fabric & Craft Stores
|
|
|
||
293
|
|
|
Tri-City Plaza
|
|
Somersworth
|
|
NH
|
|
Boston-Cambridge-Newton, MA-NH
|
|
1990
|
|
146,811
|
|
|
90.6
|
%
|
|
1,084
|
|
|
8.15
|
|
|
DeMoulas Supermarkets
|
|
T.J.Maxx
|
|
|
||
294
|
|
|
Laurel Square
|
|
Brick
|
|
NJ
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
2003
|
|
246,235
|
|
|
89.1
|
%
|
|
1,666
|
|
|
7.60
|
|
|
Pathmark (A&P)
|
|
Kmart
|
|
|
||
295
|
|
|
the Shoppes at Cinnaminson
|
|
Cinnaminson
|
|
NJ
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
2010
|
|
296,109
|
|
|
95.2
|
%
|
|
4,088
|
|
|
21.57
|
|
|
ShopRite
|
|
Burlington Stores, Ross Dress For Less
|
|
|
|||
296
|
|
|
A&P Fresh Market
|
|
Clark
|
|
NJ
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
2007
|
|
52,812
|
|
|
100.0
|
%
|
|
1,357
|
|
|
25.70
|
|
|
A&P Fresh
|
|
—
|
|
|
||
297
|
|
|
Collegetown Shopping Center
|
|
Glassboro
|
|
NJ
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
2014
|
|
250,515
|
|
|
95.0
|
%
|
|
2,014
|
|
|
8.46
|
|
|
—
|
|
Kmart, LA Fitness, Staples
|
|
|
|||
298
|
|
|
Hamilton Plaza-Kmart Plaza
|
|
Hamilton
|
|
NJ
|
|
Trenton, NJ
|
|
2014
|
|
148,919
|
|
|
98.0
|
%
|
|
1,047
|
|
|
7.17
|
|
|
—
|
|
Kmart
|
|
|
||
299
|
|
|
Bennetts Mills Plaza
|
|
Jackson
|
|
NJ
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
2002
|
|
127,230
|
|
|
89.2
|
%
|
|
1,488
|
|
|
32.10
|
|
|
Super Stop & Shop (Ahold)
|
|
—
|
|
|
||
300
|
|
|
Lakewood Plaza
|
|
Lakewood
|
|
NJ
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1966
|
|
203,547
|
|
|
96.5
|
%
|
|
2,912
|
|
|
14.83
|
|
|
ShopRite
|
|
—
|
|
|
||
301
|
|
|
Marlton Crossing
|
|
Marlton
|
|
NJ
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
2013
|
|
333,153
|
|
|
96.3
|
%
|
|
5,116
|
|
|
15.94
|
|
|
—
|
|
Burlington Stores, DSW, HomeGoods, T.J.Maxx
|
|
|
|||
302
|
|
|
Middletown Plaza
|
|
Middletown
|
|
NJ
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
2001
|
|
197,466
|
|
|
99.0
|
%
|
|
3,699
|
|
|
18.93
|
|
|
ShopRite
|
|
—
|
|
|
||
303
|
|
|
Old Bridge Gateway
|
|
Old Bridge
|
|
NJ
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1995
|
|
242,995
|
|
|
87.3
|
%
|
|
3,374
|
|
|
15.91
|
|
|
Bhavani Food Market
|
|
Marshalls, Pep Boys, Robert Wood Johnson Fitness
|
|
|
||
304
|
|
|
Morris Hills Shopping Center
|
|
Parsippany
|
|
NJ
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1994
|
|
159,403
|
|
|
93.0
|
%
|
|
2,662
|
|
|
23.38
|
|
|
—
|
|
Blink Fitness (Equinox), Clearview Cinema Group, HomeGoods, Marshalls
|
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
44
|
|
PROPERTY LIST
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Dollars in thousands except per square foot amounts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
Year
|
|
|
|
Percent
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
Property Name
|
|
City
|
|
State
|
|
Metropolitan Statistical Area
|
|
Built
|
|
GLA
|
|
Leased
|
|
ABR
|
|
ABR / SF
|
|
Grocer (1)
|
|
Other Major Tenants
|
|
Non-Owned Major Tenants
|
|||||||
305
|
|
|
Rio Grande Plaza
|
|
Rio Grande
|
|
NJ
|
|
Ocean City, NJ
|
|
1997
|
|
141,355
|
|
|
94.0
|
%
|
|
1,550
|
|
|
11.66
|
|
|
ShopRite*
|
|
JC Penney, Peebles, PetSmart
|
|
|
||
306
|
|
|
Ocean Heights Shopping Center
|
|
Somers Point
|
|
NJ
|
|
Atlantic City-Hammonton, NJ
|
|
2006
|
|
179,199
|
|
|
99.1
|
%
|
|
3,225
|
|
|
18.16
|
|
|
ShopRite
|
|
Staples
|
|
|
||
307
|
|
|
ShopRite Supermarket
|
|
Springfield
|
|
NJ
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1965
|
|
32,209
|
|
|
100.0
|
%
|
|
389
|
|
|
12.09
|
|
|
ShopRite
|
|
—
|
|
|
||
308
|
|
|
Tinton Falls Plaza
|
|
Tinton Falls
|
|
NJ
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
2006
|
|
98,410
|
|
|
83.1
|
%
|
|
1,298
|
|
|
15.86
|
|
|
A&P*
|
|
Dollar Tree, WOW! Fitness
|
|
|
||
309
|
|
|
Cross Keys Commons
|
|
Turnersville
|
|
NJ
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
1996
|
|
216,623
|
|
|
93.9
|
%
|
|
3,240
|
|
|
15.93
|
|
|
Walmart Supercenter*
|
|
Marshalls, Ross Dress for Less
|
|
|
|||
310
|
|
|
Dover Park Plaza
|
|
Yardville
|
|
NJ
|
|
Trenton, NJ
|
|
2005
|
|
56,751
|
|
|
80.5
|
%
|
|
677
|
|
|
14.82
|
|
|
—
|
|
CVS, Dollar Tree
|
|
|
||
311
|
|
|
St Francis Plaza
|
|
Santa Fe
|
|
NM
|
|
Santa Fe, NM
|
|
1993
|
|
35,800
|
|
|
100.0
|
%
|
|
413
|
|
|
11.54
|
|
|
Whole Foods Market
|
|
Walgreens
|
|
|
||
312
|
|
|
Smith's
|
|
Socorro
|
|
NM
|
|
—
|
|
1976
|
|
48,000
|
|
|
100.0
|
%
|
|
506
|
|
|
10.54
|
|
|
Smith's (Kroger)
|
|
—
|
|
|
||
313
|
|
|
Galleria Commons
|
|
Henderson
|
|
NV
|
|
Las Vegas-Henderson-Paradise, NV
|
|
2005
|
|
275,011
|
|
|
96.4
|
%
|
|
2,877
|
|
|
10.85
|
|
|
—
|
|
Babies"R"Us, Burlington Stores, Stein Mart, T.J.Maxx
|
|
|
||
314
|
|
|
Montecito Marketplace
|
|
Las Vegas
|
|
NV
|
|
Las Vegas-Henderson-Paradise, NV
|
|
2006
|
|
190,434
|
|
|
100.0
|
%
|
|
3,715
|
|
|
19.51
|
|
|
Smith's (Kroger)
|
|
T.J.Maxx
|
|
|
||
315
|
|
|
Renaissance Center East
|
|
Las Vegas
|
|
NV
|
|
Las Vegas-Henderson-Paradise, NV
|
|
2012
|
|
144,216
|
|
|
75.8
|
%
|
|
1,287
|
|
|
11.77
|
|
|
—
|
|
Savers
|
|
|
||
316
|
|
|
Parkway Plaza
|
|
Carle Place
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1993
|
|
89,704
|
|
|
96.0
|
%
|
|
2,271
|
|
|
26.38
|
|
|
—
|
|
Minado, Stew Leonard's Wines, T.J.Maxx
|
|
|
||
317
|
|
|
Kmart Plaza
|
|
Dewitt
|
|
NY
|
|
Syracuse, NY
|
|
2014
|
|
115,500
|
|
|
94.7
|
%
|
|
561
|
|
|
22.09
|
|
|
—
|
|
Dick's Sporting Goods, OfficeMax
|
|
|
||
318
|
|
|
Unity Plaza
|
|
East Fishkill
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
2005
|
|
67,462
|
|
|
90.5
|
%
|
|
1,273
|
|
|
20.84
|
|
|
A&P Fresh
|
|
—
|
|
|
||
319
|
|
|
Suffolk Plaza
|
|
East Setauket
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1998
|
|
84,480
|
|
|
98.1
|
%
|
|
1,053
|
|
|
12.70
|
|
|
Waldbaum's (A&P)
|
|
—
|
|
Kohl's
|
||
320
|
|
|
Three Village Shopping Center
|
|
East Setauket
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1991
|
|
77,458
|
|
|
93.7
|
%
|
|
1,719
|
|
|
23.68
|
|
|
King Kullen
|
|
Ace Hardware
|
|
|
||
321
|
|
|
Stewart Plaza
|
|
Garden City
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1990
|
|
193,622
|
|
|
88.9
|
%
|
|
2,542
|
|
|
14.77
|
|
|
—
|
|
Burlington Stores, K&G Men's Center
|
|
|
||
322
|
|
|
Genesee Valley Shopping Center
|
|
Geneseo
|
|
NY
|
|
Rochester, NY
|
|
2007
|
|
191,314
|
|
|
100.0
|
%
|
|
1,737
|
|
|
9.34
|
|
|
Wegmans
|
|
Tractor Supply Co.
|
|
|
||
323
|
|
|
McKinley Plaza
|
|
Hamburg
|
|
NY
|
|
Buffalo-Cheektowaga-Niagara Falls, NY
|
|
1991
|
|
93,144
|
|
|
97.9
|
%
|
|
1,257
|
|
|
13.80
|
|
|
Wegmans*
|
|
A.C. Moore, T.J.Maxx
|
|
|
||
324
|
|
|
Dalewood I, II & III Shopping Center
|
|
Hartsdale
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
2012
|
|
191,441
|
|
|
98.1
|
%
|
|
5,870
|
|
|
31.94
|
|
|
H-Mart, Mrs. Green's Natural Market
|
|
Christmas Tree Shops, T.J.Maxx
|
|
|
||
325
|
|
|
Hornell Plaza
|
|
Hornell
|
|
NY
|
|
Corning, NY
|
|
2005
|
|
253,335
|
|
|
100.0
|
%
|
|
2,026
|
|
|
8.00
|
|
|
Wegmans
|
|
Walmart
|
|
|
||
326
|
|
|
Cayuga Mall
|
|
Ithaca
|
|
NY
|
|
Ithaca, NY
|
|
2013
|
|
204,830
|
|
|
100.0
|
%
|
|
1,730
|
|
|
8.44
|
|
|
—
|
|
Jo-Ann Fabric & Craft Stores, Party City, Rite Aid, T.J.Maxx, True Value
|
|
|
||
327
|
|
|
Kings Park Shopping Center
|
|
Kings Park
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1985
|
|
71,940
|
|
|
98.3
|
%
|
|
1,404
|
|
|
19.85
|
|
|
Key Food Marketplace
|
|
T.J.Maxx
|
|
|
||
328
|
|
|
Village Square
|
|
Larchmont
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1981
|
|
17,000
|
|
|
100.0
|
%
|
|
563
|
|
|
33.12
|
|
|
Trader Joe's
|
|
—
|
|
|
||
329
|
|
|
Falcaro's Plaza
|
|
Lawrence
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1972
|
|
61,118
|
|
|
91.5
|
%
|
|
1,099
|
|
|
19.65
|
|
|
—
|
|
Advance Auto Parts, OfficeMax
|
|
|
||
330
|
|
|
Shops at Seneca Mall
|
|
Liverpool
|
|
NY
|
|
Syracuse, NY
|
|
2005
|
|
231,024
|
|
|
65.9
|
%
|
|
662
|
|
|
4.35
|
|
|
—
|
|
Big Lots, Kmart
|
|
|
||
331
|
|
|
A & P Mamaroneck
|
|
Mamaroneck
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1976
|
|
24,978
|
|
|
100.0
|
%
|
|
177
|
|
|
—
|
|
|
A&P
|
|
—
|
|
|
||
332
|
|
|
Sunshine Square
|
|
Medford
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
2007
|
|
223,322
|
|
|
91.2
|
%
|
|
2,695
|
|
|
13.24
|
|
|
Super Stop & Shop (Ahold)
|
|
Planet Fitness, Savers
|
|
|
||
333
|
|
|
Wallkill Plaza
|
|
Middletown
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
2012
|
|
209,960
|
|
|
87.0
|
%
|
|
1,830
|
|
|
10.37
|
|
|
—
|
|
Ashley Furniture, Big Lots, Hobby Lobby
|
|
|
||
334
|
|
|
Monroe ShopRite Plaza
|
|
Monroe
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1985
|
|
122,007
|
|
|
100.0
|
%
|
|
1,856
|
|
|
15.21
|
|
|
ShopRite
|
|
Retro Fitness, Rite Aid, U.S. Post Office
|
|
|
||
335
|
|
|
Rockland Plaza
|
|
Nanuet
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
2006
|
|
252,537
|
|
|
93.7
|
%
|
|
5,812
|
|
|
24.56
|
|
|
A Matter of Health
|
|
Barnes & Noble, Marshalls, Modell's Sporting Goods, Petco
|
|
|
||
336
|
|
|
North Ridge Plaza
|
|
New Rochelle
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1971
|
|
40,991
|
|
|
72.0
|
%
|
|
1,051
|
|
|
35.62
|
|
|
—
|
|
Harmon Discount
|
|
|
||
337
|
|
|
Nesconset Shopping Center
|
|
Port Jefferson Station
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
2012
|
|
122,996
|
|
|
100.0
|
%
|
|
2,485
|
|
|
20.20
|
|
|
—
|
|
Dollar Tree, HomeGoods
|
|
|
|||
338
|
|
|
Port Washington
|
|
Port Washington
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1968
|
|
19,600
|
|
|
100.0
|
%
|
|
112
|
|
|
5.69
|
|
|
North Shore Farms
|
|
—
|
|
|
||
339
|
|
|
Roanoke Plaza
|
|
Riverhead
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
2002
|
|
99,131
|
|
|
100.0
|
%
|
|
1,767
|
|
|
17.82
|
|
|
Best Yet Market
|
|
CVS, T.J.Maxx
|
|
|
||
340
|
|
|
Rockville Centre
|
|
Rockville Centre
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1975
|
|
44,131
|
|
|
100.0
|
%
|
|
831
|
|
|
18.82
|
|
|
—
|
|
HomeGoods, Rite Aid
|
|
|
||
341
|
|
|
Mohawk Acres
|
|
Rome
|
|
NY
|
|
Utica-Rome, NY
|
|
2005
|
|
159,701
|
|
|
88.9
|
%
|
|
1,481
|
|
|
10.43
|
|
|
Price Chopper
|
|
—
|
|
|
||
342
|
|
|
College Plaza
|
|
Selden
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
2013
|
|
180,182
|
|
|
97.8
|
%
|
|
2,861
|
|
|
16.24
|
|
|
ShopRite
|
|
Blink Fitness (Equinox), Bob's Stores, Rite Aid
|
|
|
||
343
|
|
|
Campus Plaza
|
|
Vestal
|
|
NY
|
|
Binghamton, NY
|
|
2003
|
|
160,744
|
|
|
95.8
|
%
|
|
1,668
|
|
|
10.83
|
|
|
—
|
|
Olum's Furniture & Appliances, Staples
|
|
|
||
344
|
|
|
Parkway Plaza
|
|
Vestal
|
|
NY
|
|
Binghamton, NY
|
|
2012
|
|
204,954
|
|
|
100.0
|
%
|
|
2,069
|
|
|
10.10
|
|
|
PriceRite (ShopRite)
|
|
Bed Bath & Beyond, Kohl's, PetSmart
|
|
Target
|
||
345
|
|
|
Shoppes at Vestal
|
|
Vestal
|
|
NY
|
|
Binghamton, NY
|
|
2000
|
|
92,328
|
|
|
100.0
|
%
|
|
1,392
|
|
|
15.07
|
|
|
—
|
|
HomeGoods, Michaels, Old Navy
|
|
|
||
346
|
|
|
Town Square Mall
|
|
Vestal
|
|
NY
|
|
Binghamton, NY
|
|
2012
|
|
293,181
|
|
|
99.4
|
%
|
|
4,548
|
|
|
15.61
|
|
|
Sam's Club*, Walmart Supercenter*
|
|
Barnes & Noble, Dick's Sporting Goods, Lowes Cinemas, T.J.Maxx
|
|
|
||
347
|
|
|
The Plaza at Salmon Run
|
|
Watertown
|
|
NY
|
|
Watertown-Fort Drum, NY
|
|
1993
|
|
68,761
|
|
|
100.0
|
%
|
|
690
|
|
|
10.03
|
|
|
Hannaford Bros. (Delhaize)
|
|
Pier 1 Imports
|
|
|
||
348
|
|
|
Highridge Plaza
|
|
Yonkers
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1977
|
|
88,501
|
|
|
95.7
|
%
|
|
1,743
|
|
|
20.59
|
|
|
Pathmark (A&P)
|
|
—
|
|
|
||
349
|
|
|
Brunswick Town Center
|
|
Brunswick
|
|
OH
|
|
Cleveland-Elyria, OH
|
|
2004
|
|
138,407
|
|
|
96.3
|
%
|
|
1,844
|
|
|
13.83
|
|
|
Giant Eagle
|
|
—
|
|
The Home Depot
|
||
350
|
|
|
30th Street Plaza
|
|
Canton
|
|
OH
|
|
Canton-Massillon, OH
|
|
1999
|
|
157,055
|
|
|
87.0
|
%
|
|
1,408
|
|
|
10.30
|
|
|
Giant Eagle, Marc's
|
|
—
|
|
|
||
351
|
|
|
Brentwood Plaza
|
|
Cincinnati
|
|
OH
|
|
Cincinnati, OH-KY-IN
|
|
2004
|
|
227,952
|
|
|
97.2
|
%
|
|
2,301
|
|
|
10.77
|
|
|
Kroger
|
|
Conway
|
|
|
||
352
|
|
|
Delhi Shopping Center
|
|
Cincinnati
|
|
OH
|
|
Cincinnati, OH-KY-IN
|
|
2012
|
|
170,270
|
|
|
95.5
|
%
|
|
1,434
|
|
|
9.01
|
|
|
Kroger
|
|
Salvation Army
|
|
|
||
353
|
|
|
Harpers Station
|
|
Cincinnati
|
|
OH
|
|
Cincinnati, OH-KY-IN
|
|
2014
|
|
254,956
|
|
|
94.3
|
%
|
|
3,268
|
|
|
13.59
|
|
|
Fresh Thyme Farmers Market
|
|
HomeGoods, LA Fitness, Stein Mart, T.J.Maxx
|
|
|
||
354
|
|
|
Western Hills Plaza
|
|
Cincinnati
|
|
OH
|
|
Cincinnati, OH-KY-IN
|
|
2011
|
|
314,754
|
|
|
100.0
|
%
|
|
3,700
|
|
|
12.08
|
|
|
—
|
|
Bed Bath & Beyond, Michaels, Sears, Staples, T.J.Maxx
|
|
Target
|
||
355
|
|
|
Western Village
|
|
Cincinnati
|
|
OH
|
|
Cincinnati, OH-KY-IN
|
|
2005
|
|
115,116
|
|
|
100.0
|
%
|
|
1,095
|
|
|
9.51
|
|
|
Kroger
|
|
—
|
|
|
||
356
|
|
|
Crown Point
|
|
Columbus
|
|
OH
|
|
Columbus, OH
|
|
1998
|
|
144,923
|
|
|
95.9
|
%
|
|
1,345
|
|
|
9.89
|
|
|
Kroger
|
|
Planet Fitness
|
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
45
|
|
PROPERTY LIST
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Dollars in thousands except per square foot amounts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
Year
|
|
|
|
Percent
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
Property Name
|
|
City
|
|
State
|
|
Metropolitan Statistical Area
|
|
Built
|
|
GLA
|
|
Leased
|
|
ABR
|
|
ABR / SF
|
|
Grocer (1)
|
|
Other Major Tenants
|
|
Non-Owned Major Tenants
|
|||||||
357
|
|
|
Greentree Shopping Center
|
|
Columbus
|
|
OH
|
|
Columbus, OH
|
|
2005
|
|
131,012
|
|
|
84.8
|
%
|
|
1,105
|
|
|
10.71
|
|
|
Kroger
|
|
—
|
|
|
||
358
|
|
|
Brandt Pike Place
|
|
Dayton
|
|
OH
|
|
Dayton, OH
|
|
2008
|
|
17,900
|
|
|
100.0
|
%
|
|
165
|
|
|
9.22
|
|
|
Kroger*
|
|
—
|
|
|
||
359
|
|
|
South Towne Centre
|
|
Dayton
|
|
OH
|
|
Dayton, OH
|
|
2013
|
|
331,797
|
|
|
98.3
|
%
|
|
4,166
|
|
|
13.71
|
|
|
Health Foods Unlimited
|
|
Burlington Stores, Christmas Tree Shops, Jo-Ann Fabric & Craft Stores, Value City Furniture
|
|
|
||
360
|
|
|
The Vineyards
|
|
Eastlake
|
|
OH
|
|
Cleveland-Elyria, OH
|
|
1989
|
|
144,820
|
|
|
87.2
|
%
|
|
719
|
|
|
5.70
|
|
|
Good Cents Grocery + More (Giant Eagle)
|
|
Harbor Freight Tools
|
|
Walmart
|
||
361
|
|
|
Midway Market Square
|
|
Elyria
|
|
OH
|
|
Cleveland-Elyria, OH
|
|
2014
|
|
232,252
|
|
|
86.0
|
%
|
|
2,310
|
|
|
11.57
|
|
|
Giant Eagle
|
|
Dick's Sporting Goods, Jo-Ann Fabric & Craft Stores
|
|
Target, The Home Depot
|
||
362
|
|
|
Southland Shopping Center
|
|
Middleburg Heights
|
OH
|
|
Cleveland-Elyria, OH
|
|
2013
|
|
696,359
|
|
|
93.6
|
%
|
|
6,224
|
|
|
9.55
|
|
|
BJ's Wholesale Club, Giant Eagle, Marc's
|
|
Burlington Stores, Cleveland Furniture Bank, Jo-Ann Fabric & Craft Stores, Marshalls
|
|
|
|||
363
|
|
|
Tops Plaza
|
|
North Olmsted
|
|
OH
|
|
Cleveland-Elyria, OH
|
|
2002
|
|
70,003
|
|
|
98.2
|
%
|
|
1,034
|
|
|
15.04
|
|
|
—
|
|
—
|
|
|
||
364
|
|
|
Tops Plaza
|
|
North Ridgeville
|
|
OH
|
|
Cleveland-Elyria, OH
|
|
2002
|
|
60,830
|
|
|
90.8
|
%
|
|
805
|
|
|
14.57
|
|
|
—
|
|
Pat Catan's Craft Centers
|
|
|
||
365
|
|
|
Surrey Square Mall
|
|
Norwood
|
|
OH
|
|
Cincinnati, OH-KY-IN
|
|
2010
|
|
173,242
|
|
|
94.7
|
%
|
|
2,023
|
|
|
25.36
|
|
|
Kroger
|
|
Marshalls
|
|
|
||
366
|
|
|
Market Place
|
|
Piqua
|
|
OH
|
|
Dayton, OH
|
|
2012
|
|
182,824
|
|
|
93.0
|
%
|
|
671
|
|
|
6.99
|
|
|
Kroger
|
|
Roses
|
|
|
||
367
|
|
|
Brice Park
|
|
Reynoldsburg
|
|
OH
|
|
Columbus, OH
|
|
1989
|
|
158,565
|
|
|
83.2
|
%
|
|
1,169
|
|
|
9.70
|
|
|
—
|
|
Ashley Furniture, Michaels
|
|
|
||
368
|
|
|
Streetsboro Crossing
|
|
Streetsboro
|
|
OH
|
|
Akron, OH
|
|
2002
|
|
89,436
|
|
|
100.0
|
%
|
|
682
|
|
|
7.62
|
|
|
Giant Eagle
|
|
—
|
|
Lowe's
|
||
369
|
|
|
Miracle Mile Shopping Plaza
|
|
Toledo
|
|
OH
|
|
Toledo, OH
|
|
1955
|
|
318,174
|
|
|
68.7
|
%
|
|
1,363
|
|
|
6.24
|
|
|
Kroger
|
|
Big Lots
|
|
|
||
370
|
|
|
Southland Shopping Plaza
|
|
Toledo
|
|
OH
|
|
Toledo, OH
|
|
1988
|
|
290,892
|
|
|
84.6
|
%
|
|
1,492
|
|
|
6.07
|
|
|
Kroger
|
|
Big Lots, Planet Fitness, Shopper's World
|
|
|
||
371
|
|
|
Wadsworth Crossings
|
|
Wadsworth
|
|
OH
|
|
Cleveland-Elyria, OH
|
|
2005
|
|
108,166
|
|
|
94.1
|
%
|
|
1,575
|
|
|
15.47
|
|
|
—
|
|
Bed Bath & Beyond, MC Sports, OfficeMax, Petco
|
|
Kohl's, Lowe's, Target
|
||
372
|
|
|
Northgate Plaza
|
|
Westerville
|
|
OH
|
|
Columbus, OH
|
|
2008
|
|
15,219
|
|
|
100.0
|
%
|
|
246
|
|
|
16.16
|
|
|
Kroger*
|
|
—
|
|
The Home Depot
|
||
373
|
|
|
Marketplace
|
|
Tulsa
|
|
OK
|
|
Tulsa, OK
|
|
1992
|
|
186,851
|
|
|
100.0
|
%
|
|
1,760
|
|
|
9.42
|
|
|
—
|
|
Conn's, Drysdales, PetSmart
|
|
Best Buy, JC Penney Home Store
|
||
374
|
|
|
Village West
|
|
Allentown
|
|
PA
|
|
Allentown-Bethlehem-Easton, PA-NJ
|
|
1999
|
|
140,474
|
|
|
99.4
|
%
|
|
2,496
|
|
|
17.88
|
|
|
Giant Food (Ahold)
|
|
—
|
|
|
||
375
|
|
|
Park Hills Plaza
|
|
Altoona
|
|
PA
|
|
Altoona, PA
|
|
1985
|
|
279,746
|
|
|
95.9
|
%
|
|
2,157
|
|
|
8.21
|
|
|
Weis Markets
|
|
Dunham's Sports, Petco, Toys"R"Us
|
|
|
||
376
|
|
|
Bensalem Square
|
|
Bensalem
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
1986
|
|
70,378
|
|
|
100.0
|
%
|
|
685
|
|
|
9.74
|
|
|
Redner's Warehouse Market
|
|
—
|
|
|
|||
377
|
|
|
Bethel Park
|
|
Bethel Park
|
|
PA
|
|
Pittsburgh, PA
|
|
2004
|
|
218,714
|
|
|
95.7
|
%
|
|
1,613
|
|
|
8.50
|
|
|
Giant Eagle
|
|
Walmart
|
|
|
||
378
|
|
|
Bethlehem Square
|
|
Bethlehem
|
|
PA
|
|
Allentown-Bethlehem-Easton, PA-NJ
|
|
1994
|
|
389,450
|
|
|
100.0
|
%
|
|
3,671
|
|
|
9.43
|
|
|
Giant Food (Ahold)
|
|
T.J.Maxx, The Home Depot, Walmart
|
|
|
||
379
|
|
|
Lehigh Shopping Center
|
|
Bethlehem
|
|
PA
|
|
Allentown-Bethlehem-Easton, PA-NJ
|
|
2013
|
|
378,358
|
|
|
96.9
|
%
|
|
3,153
|
|
|
10.80
|
|
|
Giant Food (Ahold)
|
|
Big Lots, Mega Marshalls, PetSmart, Staples, Wells Fargo
|
|
|
||
380
|
|
|
Boyertown Shopping Center
|
|
Boyertown
|
|
PA
|
|
Reading, PA
|
|
2014
|
|
83,229
|
|
|
97.1
|
%
|
|
755
|
|
|
9.35
|
|
|
—
|
|
Advance Auto Parts, Big Lots, CVS, Tractor Supply
|
|
|
||
381
|
|
|
Bristol Park
|
|
Bristol
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
2013
|
|
276,653
|
|
|
94.4
|
%
|
|
2,291
|
|
|
8.78
|
|
|
Walmart Supercenter
|
|
Ollie's Bargain Outlet
|
|
|
|||
382
|
|
|
Chalfont Village Shopping Center
|
|
Chalfont
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
1989
|
|
46,051
|
|
|
82.4
|
%
|
|
450
|
|
|
11.87
|
|
|
—
|
|
—
|
|
|
|||
383
|
|
|
New Britain Village Square
|
|
Chalfont
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
1989
|
|
143,716
|
|
|
95.4
|
%
|
|
2,325
|
|
|
16.95
|
|
|
Giant Food (Ahold)
|
|
—
|
|
|
|||
384
|
|
|
Collegeville Shopping Center
|
|
Collegeville
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
2004
|
|
110,696
|
|
|
51.7
|
%
|
|
808
|
|
|
14.12
|
|
|
—
|
|
Pep Boys, Rascal Fitness
|
|
|
|||
385
|
|
|
Whitemarsh Shopping Center
|
|
Conshohocken
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
2002
|
|
67,476
|
|
|
100.0
|
%
|
|
1,366
|
|
|
20.25
|
|
|
Giant Food (Ahold)
|
|
Wine & Spirits Shoppe
|
|
|
|||
386
|
|
|
Valley Fair
|
|
Devon
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
2001
|
|
105,086
|
|
|
100.0
|
%
|
|
1,004
|
|
|
9.56
|
|
|
—
|
|
Chuck E. Cheese's, Mealey's Furniture
|
|
|
|||
387
|
|
|
Dickson City Crossings
|
|
Dickson City
|
|
PA
|
|
Scranton--Wilkes-Barre--Hazleton, PA
|
|
1997
|
|
302,929
|
|
|
100.0
|
%
|
|
3,121
|
|
|
15.67
|
|
|
—
|
|
Dick's Sporting Goods, hhgregg, PetSmart, T.J.Maxx, The Home Depot
|
|
|
||
388
|
|
|
Dillsburg Shopping Center
|
|
Dillsburg
|
|
PA
|
|
York-Hanover, PA
|
|
2014
|
|
153,088
|
|
|
100.0
|
%
|
|
1,913
|
|
|
12.73
|
|
|
Giant Food (Ahold)
|
|
Tractor Supply Co.
|
|
|
||
389
|
|
|
Barn Plaza
|
|
Doylestown
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
2002
|
|
237,681
|
|
|
100.0
|
%
|
|
3,320
|
|
|
13.97
|
|
|
—
|
|
Kohl's, Marshalls, Regal Cinemas
|
|
|
|||
390
|
|
|
Pilgrim Gardens
|
|
Drexel Hill
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
2014
|
|
79,252
|
|
|
88.1
|
%
|
|
1,053
|
|
|
15.08
|
|
|
—
|
|
Dollar Tree, Ross Dress for Less
|
|
|
|||
391
|
|
|
Gilbertsville Shopping Center
|
|
Gilbertsville
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
2002
|
|
85,748
|
|
|
91.7
|
%
|
|
684
|
|
|
8.70
|
|
|
Weis Markets
|
|
—
|
|
|
|||
392
|
|
|
Mount Carmel Plaza
|
|
Glenside
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
1975
|
|
14,504
|
|
|
94.1
|
%
|
|
178
|
|
|
13.01
|
|
|
—
|
|
SGS Paper
|
|
|
|||
393
|
|
|
Kline Plaza
|
|
Harrisburg
|
|
PA
|
|
Harrisburg-Carlisle, PA
|
|
1952
|
|
220,288
|
|
|
89.8
|
%
|
|
1,787
|
|
|
9.03
|
|
|
Giant Food (Ahold)
|
|
The Dept. of Health
|
|
|
||
394
|
|
|
New Garden Shopping Center
|
|
Kennett Square
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
2012
|
|
145,170
|
|
|
93.7
|
%
|
|
938
|
|
|
7.05
|
|
|
—
|
|
Big Lots, Ollie's Bargain Outlet
|
|
|
|||
395
|
|
|
Stone Mill Plaza
|
|
Lancaster
|
|
PA
|
|
Lancaster, PA
|
|
2008
|
|
106,736
|
|
|
98.4
|
%
|
|
1,240
|
|
|
11.81
|
|
|
Giant Food (Ahold)
|
|
Majik Rent-To-Own
|
|
|
||
396
|
|
|
Woodbourne Square
|
|
Langhorne
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
1984
|
|
29,821
|
|
|
80.9
|
%
|
|
505
|
|
|
20.92
|
|
|
—
|
|
—
|
|
|
|||
397
|
|
|
North Penn Market Place
|
|
Lansdale
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
1977
|
|
58,358
|
|
|
75.1
|
%
|
|
804
|
|
|
20.00
|
|
|
Weis Markets*
|
|
—
|
|
|
|||
398
|
|
|
New Holland Shopping Center
|
|
New Holland
|
|
PA
|
|
Lancaster, PA
|
|
1995
|
|
65,878
|
|
|
95.2
|
%
|
|
455
|
|
|
7.26
|
|
|
Amelia's Grocery Outlet
|
|
Family Dollar
|
|
|
||
399
|
|
|
Village at Newtown
|
|
Newtown
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
1989
|
|
177,185
|
|
|
92.8
|
%
|
|
4,022
|
|
|
24.45
|
|
|
McCaffrey's
|
|
Pier 1 Imports
|
|
|
|||
400
|
|
|
Cherry Square
|
|
Northampton
|
|
PA
|
|
Allentown-Bethlehem-Easton, PA-NJ
|
|
1989
|
|
75,005
|
|
|
86.0
|
%
|
|
641
|
|
|
9.94
|
|
|
Redner's Warehouse Market
|
|
—
|
|
|
||
401
|
|
|
Ivyridge
|
|
Philadelphia
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
2006
|
|
107,318
|
|
|
100.0
|
%
|
|
2,309
|
|
|
21.52
|
|
|
SuperFresh (A&P)
|
|
—
|
|
|
|||
402
|
|
|
Roosevelt Mall
|
|
Philadelphia
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
2011
|
|
561,890
|
|
|
99.3
|
%
|
|
7,508
|
|
|
31.24
|
|
|
—
|
|
Macy's, Modell's Sporting Goods, Ross Dress For Less
|
|
|
|||
403
|
|
|
Shoppes at Valley Forge
|
|
Phoenixville
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
2003
|
|
176,676
|
|
|
97.6
|
%
|
|
1,276
|
|
|
7.40
|
|
|
Redner's Warehouse Market
|
|
French Creek Outfitters, Staples
|
|
|
|||
404
|
|
|
Plymouth Plaza
|
|
Plymouth Meeting
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
1994
|
|
33,813
|
|
|
95.8
|
%
|
|
982
|
|
|
30.31
|
|
|
—
|
|
Clear Wireless, Medical Rehabilitation Centers of Pennsylvania
|
|
|
||||
405
|
|
|
County Line Plaza
|
|
Souderton
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
2013
|
|
154,758
|
|
|
91.6
|
%
|
|
1,433
|
|
|
10.53
|
|
|
Bottom Dollar Food (Delhaize)
|
|
Planet Fitness, VF Outlet
|
|
|
|||
406
|
|
|
69th Street Plaza
|
|
Upper Darby
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
1994
|
|
41,711
|
|
|
100.0
|
%
|
|
385
|
|
|
9.22
|
|
|
Pathmark (A&P)*
|
|
EZ Bargains, Rent-A-Center, Super Dollar City
|
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
46
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
47
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
48
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
49
|
|
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GUIDANCE
|
|||||||||||||
|
||||||||||||||
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|
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|
Supplemental Disclosure
Three Months Ended December 31, 2014
|
||||||||||||
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GUIDANCE & ADDITIONAL DISCLOSURES
|
|
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|
|||||||||||
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||||||
|
GUIDANCE:
|
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|
|||||||||
|
|
|
|
|
|
2015E
|
|
|
|
|
|
|
||||||
|
|
FFO per common share - diluted
|
$1.94 - $2.00
|
|
|
|
|
|
|
|
||||||||
|
|
Same property NOI
|
3.0 - 3.7%
|
|
|
|
|
|
|
|
||||||||
|
|
Percent leased (at year-end)
|
93.0 - 93.5%
|
|
|
|
|
|
|
|
||||||||
|
|
New and renewal rent growth (cash)
|
12.0 - 17.0%
|
|
|
|
|
|
|
|
||||||||
|
|
Total leasing related capital expenditures
|
$155 - $175M
|
|
|
|
|
|
|
|
||||||||
|
|
|
Anchor space repositioning and redevelopment related spending
|
$85 - $100M
|
|
|
|
|
|
|
|
|||||||
|
|
General and administrative expenses
|
$79 - $82M
|
|
|
|
|
|
|
|
||||||||
|
|
Interest expense
|
$256 - $265M
|
|
|
|
|
|
|
|
||||||||
|
|
Straight-line rent and above- and below-market rent amortization, net
|
$54 - $59M
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
ADDITIONAL DISCLOSURES - as of 12/31/14 (dollars in millions)
|
|
|
|
|
|
|
|
||||||||||
|
|
Estimated market value of expansion land and outparcels available
|
$55
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
ABR from leases signed but not yet commenced
|
$24
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
|
Leases signed but not yet commenced:
|
Leases
|
|
GLA
|
|
ABR
|
|
ABR/SF
|
||||||||
|
|
|
|
≥ 10,000 SF
|
54
|
|
|
1,243,494
|
|
|
$
|
13,501,273
|
|
|
$
|
10.86
|
|
|
|
|
|
|
< 10,000 SF
|
184
|
|
|
579,164
|
|
|
10,739,430
|
|
|
18.54
|
|
|||
|
|
|
|
TOTAL
|
238
|
|
|
1,822,658
|
|
|
$
|
24,240,703
|
|
|
$
|
13.30
|
|
Supplemental Disclosure - Three Months Ended December 31, 2014
|
Page
51
|
|