|
|
|
|
|
Maryland (Brixmor Property Group Inc.)
|
|
001-36160
|
|
45-2433192
|
Delaware (Brixmor Operating Partnership LP)
|
|
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 1.01
|
Entry into a Material Definitive Agreement
|
•
|
ratio of total debt to total asset value of not more than 0.60 to 1.00 (subject to a higher level for a period of 4 fiscal quarters following a material acquisition);
|
•
|
ratio of unsecured indebtedness to the unencumbered pool value of properties satisfying certain criteria specified in, and valued per the terms of, the Loan Agreement of not more than 0.60 to 1.00 (subject to a higher level for a period of 4 fiscal quarters following a material acquisition).
|
Item 2.02
|
Results of Operations and Financial Condition.
|
Item 2.03
|
Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of the Registrant
|
Item 9.01
|
Financial Statements and Exhibits
|
10.1
|
|
Term Loan Agreement, dated as of July 28, 2016, among Brixmor Operating Partnership LP, as borrower, Wells Fargo Bank, National Association, as administrative agent, and the lenders party thereto.
|
|
|
|
99.1
|
|
Press release issued July 31, 2017.
|
|
|
|
99.2
|
|
Brixmor Property Group Inc. Supplemental Financial Information for the second quarter ended June 30, 2017.
|
|
|
|
Date: July 31, 2017
|
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
|
|
Term Loan Agreement, dated as of July 28, 2016, among Brixmor Operating Partnership LP, as borrower, Wells Fargo Bank, National Association, as administrative agent, and the lenders party thereto.
|
|
|
|
99.1
|
|
Press release issued July 31, 2017.
|
|
|
|
99.2
|
|
Brixmor Property Group Inc. Supplemental Financial Information for the second quarter ended June 30, 2017.
|
|
|
|
|
Page
|
ARTICLE I
|
Definitions
|
1
|
SECTION 1.01
|
Defined Terms
|
1
|
SECTION 1.02
|
Classification of Loans and Borrowings
|
28
|
SECTION 1.03
|
Terms Generally
|
28
|
SECTION 1.04
|
Accounting Terms; GAAP
|
29
|
ARTICLE II
|
The Credits
|
29
|
SECTION 2.01
|
Commitments
|
29
|
SECTION 2.02
|
Loans and Borrowings
|
29
|
SECTION 2.03
|
Request for Borrowings
|
30
|
SECTION 2.04
|
Incremental Facility
|
31
|
SECTION 2.05
|
[Reserved]
|
32
|
SECTION 2.06
|
[Reserved]
|
32
|
SECTION 2.07
|
Funding of Borrowings
|
32
|
SECTION 2.08
|
Interest Elections
|
33
|
SECTION 2.09
|
[Reserved]
|
34
|
SECTION 2.10
|
Repayment of Loans; Evidence of Debt
|
34
|
SECTION 2.11
|
Prepayment of Loans
|
35
|
SECTION 2.12
|
Fees
|
36
|
SECTION 2.13
|
Interest
|
36
|
SECTION 2.14
|
Alternate Rate of Interest
|
37
|
SECTION 2.15
|
Increased Costs
|
37
|
SECTION 2.16
|
Break Funding Payments
|
38
|
SECTION 2.17
|
Payments Free of Taxes
|
39
|
SECTION 2.18
|
Payments Generally; Pro Rata Treatment; Sharing of Setoffs
|
43
|
SECTION 2.19
|
Mitigation Obligations; Replacement of Lenders
|
44
|
SECTION 2.20
|
Defaulting Lenders
|
45
|
SECTION 2.21
|
[Reserved]
|
45
|
TABLE OF CONTENTS
(continued)
|
||
SECTION 2.22
|
Extending Facilities
|
45
|
ARTICLE III
|
Representations and Warranties
|
48
|
SECTION 3.01
|
Organization; Powers
|
48
|
SECTION 3.02
|
Authorization; Enforceability
|
48
|
SECTION 3.03
|
Governmental Approvals; No Conflicts
|
48
|
SECTION 3.04
|
Financial Condition; No Material Adverse Change
|
48
|
SECTION 3.05
|
Properties
|
49
|
SECTION 3.06
|
Litigation, Guarantee Obligations, and Environmental Matters
|
49
|
SECTION 3.07
|
Compliance with Laws and Agreements
|
50
|
SECTION 3.08
|
Investment Company Status
|
50
|
SECTION 3.09
|
Taxes
|
50
|
SECTION 3.10
|
ERISA
|
50
|
SECTION 3.11
|
Disclosure
|
50
|
SECTION 3.12
|
Anti-Corruption Laws and Sanctions
|
51
|
SECTION 3.13
|
Federal Reserve Board Regulations
|
51
|
SECTION 3.14
|
Subsidiaries
|
51
|
SECTION 3.15
|
Solvency
|
51
|
SECTION 3.16
|
Status of BPG
|
51
|
SECTION 3.17
|
Insurance
|
51
|
SECTION 3.18
|
EEA Financial Institution
|
52
|
ARTICLE IV
|
Conditions
|
52
|
SECTION 4.01
|
Effective Date
|
52
|
ARTICLE V
|
Affirmative Covenants
|
54
|
SECTION 5.01
|
Financial Statements; Ratings Change and Other Information
|
54
|
SECTION 5.02
|
Notices of Material Events
|
55
|
SECTION 5.03
|
Existence; Conduct of Business; REIT Status
|
56
|
SECTION 5.04
|
Payment of Obligations
|
56
|
TABLE OF CONTENTS
(continued)
|
||
SECTION 5.05
|
Maintenance of Properties; Insurance
|
56
|
SECTION 5.06
|
Books and Records; Inspection Rights
|
56
|
SECTION 5.07
|
Compliance with Laws
|
57
|
SECTION 5.08
|
Use of Proceeds
|
57
|
SECTION 5.09
|
[Reserved]
|
57
|
SECTION 5.10
|
Addition and Release of Guaranties
|
57
|
ARTICLE VI
|
Negative Covenants
|
58
|
SECTION 6.01
|
Financial Covenants
|
58
|
SECTION 6.02
|
Fundamental Changes
|
59
|
SECTION 6.03
|
Restricted Payments
|
59
|
SECTION 6.04
|
Transactions with Affiliates
|
59
|
SECTION 6.05
|
Anti-Corruption Laws and Sanctions
|
60
|
SECTION 6.06
|
Changes in Fiscal Periods
|
60
|
ARTICLE VII
|
Events of Default
|
60
|
SECTION 7.01
|
Events of Default
|
60
|
SECTION 7.02
|
Distribution of Payments after Default
|
63
|
ARTICLE VIII
|
The Administrative Agents
|
63
|
ARTICLE IX
|
Miscellaneous
|
66
|
SECTION 9.01
|
Notices
|
66
|
SECTION 9.02
|
Waivers; Amendments
|
68
|
SECTION 9.03
|
Expenses; Indemnity; Damage Waiver
|
69
|
SECTION 9.04
|
Successors and Assigns
|
71
|
SECTION 9.05
|
Survival
|
75
|
SECTION 9.06
|
Counterparts; Integration; Effectiveness; Electronic Execution
|
76
|
SECTION 9.07
|
Severability
|
76
|
SECTION 9.08
|
Right of Setoff
|
76
|
SECTION 9.09
|
Governing Law; Jurisdiction; Consent of Service of Process
|
77
|
TABLE OF CONTENTS
(continued)
|
||
SECTION 9.10
|
WAIVER OF JURY TRIAL
|
78
|
SECTION 9.11
|
Headings
|
78
|
SECTION 9.12
|
Confidentiality
|
78
|
SECTION 9.13
|
Material Non-Public Information
|
79
|
SECTION 9.14
|
Interest Rate Limitation
|
79
|
SECTION 9.15
|
USA PATRIOT Act
|
80
|
SECTION 9.16
|
No Advisory or Fiduciary Responsibility
|
80
|
SECTION 9.17
|
Non-Recourse
|
81
|
SECTION 9.18
|
Acknowledgment and Consent to Bail-In of EEA Financial Institutions
|
81
|
RATINGS LEVEL
|
MOODY’S/
S&P APPLICABLE CREDIT RATING
|
EURODOLLAR - APPLICABLE
RATE
|
ABR‑
APPLICABLE
RATE
|
Level I Rating
|
A3/A- or higher
|
1.50%
|
0.50%
|
Level II Rating
|
Baa1/BBB+
|
1.55%
|
0.55%
|
Level III Rating
|
Baa2/BBB
|
1.65%
|
0.65%
|
Level IV Rating
|
Baa3/BBB-
|
1.90%
|
0.90%
|
Level V Rating
|
Below Baa3/BBB- or unrated
|
2.45%
|
1.45%
|
|
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
|
|
|
WELLS FARGO BANK, NATIONAL
|
||||
|
ASSOCIATION, individually and as
|
||||
|
Administrative Agent
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
By:
|
/s/ Matthew Ricketts
|
|||
|
Name:
|
Matthew Ricketts
|
|
||
|
Title:
|
Managing Director
|
|
|
PNC BANK, NATIONAL ASSOCIATION
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
By:
|
/s/ Brian P. Kelly
|
|||
|
Name:
|
Brian P. Kelly
|
|
||
|
Title:
|
Senior Vice President
|
|
|
U.S. BANK NATIONAL ASSOCIATION
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
By:
|
/s/ Timothy J. Tillman
|
|||
|
Name:
|
Timothy J. Tillman
|
|
||
|
Title:
|
Vice President
|
|
|
BANK OF MONTREAL
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
By:
|
/s/ Kevin Fennell
|
|||
|
Name:
|
Kevin Fennell
|
|
||
|
Title:
|
Vice President
|
|
|
SUNTRUST BANK
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
By:
|
/s/ Nick Preston
|
|||
|
Name:
|
Nick Preston
|
|
||
|
Title:
|
Vice President
|
|
|
ASSOCIATED BANK, NATIONAL
|
||||
|
ASSOCIATION
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
By:
|
/s/ Michael J. Sedivy
|
|||
|
Name:
|
Michael J. Sedivy
|
|
||
|
Title:
|
Senior Vice President
|
|
|
THE BANK OF NEW YORK MELLON
|
||||
|
|
|
|
||
|
|
|
|
|
|
|
By:
|
/s/ Abdullah Dahman
|
|||
|
Name:
|
Abdullah Dahman
|
|
||
|
Title:
|
Vice President
|
|
|
MIZUHO BANK, LTD.
|
||||
|
|
|
|
||
|
|
|
|
|
|
|
By:
|
/s/ John Davies
|
|||
|
Name:
|
John Davies
|
|
||
|
Title:
|
Authorized Signatory
|
|
|
TD BANK, N.A.
|
||||
|
|
|
|
||
|
|
|
|
|
|
|
By:
|
/s/ Joseph Wenk
|
|||
|
Name:
|
Joseph Wenk
|
|
||
|
Title:
|
Vice President
|
|
|
BRANCH BANKING AND TRUST COMPANY
|
||||
|
|
|
|
||
|
|
|
|
|
|
|
By:
|
/s/ Steve Whitcomb
|
|||
|
Name:
|
Steve Whitcomb
|
|
||
|
Title:
|
Senior Vice President
|
|
4. Administrative Agent:
|
Wells Fargo Bank, National Association, as the administrative agent under the Credit Agreement
|
5. Credit Agreement:
|
The Term Loan Agreement dated as of July 28, 2017 among Brixmor Operating Partnership LP, the Lenders parties thereto, Wells Fargo Bank, National Association, as Administrative Agent, and the other agents parties thereto
|
Facility Assigned
2
|
Aggregate Amount of Commitment/Loans for all Lenders
|
Amount of Commitment/Loans Assigned
|
Percentage Assigned of Commitment/Loans
3
|
|
$
|
$
|
%
|
|
$
|
$
|
%
|
|
$
|
$
|
%
|
ASSIGNOR
[NAME OF ASSIGNOR]
|
|
|
|
By:
|
|
|
Title:
|
ASSIGNEE
[NAME OF ASSIGNEE]
|
|
|
|
By:
|
|
|
Title:
|
I.
|
Section 6.01(a)(i) - Maximum Leverage Ratio.
|
|||
|
|
|
|
|
|
A.
|
Total Outstanding Indebtedness (from
Schedule 2
):
|
$______
|
|
|
|
|
|
|
|
B.
|
Balance Sheet Cash:
|
$______
|
|
|
|
|
|
|
|
C.
|
Total Asset Value (from
Schedule 2
):
|
$______
|
|
|
|
|
|
|
|
D.
|
Leverage Ratio ((Line I.A. - Line I.B) Line I.C):
|
____%
|
|
|
|
|
|
|
|
|
Maximum permitted:
|
60%
6
|
|
|
|
|
|
|
II.
|
Section 6.01(a)(ii) - Minimum Fixed Charge Coverage Ratio.
|
|
||
|
|
|
|
|
|
A.
|
Total Net Operating Income for the most recent 6 months for which the Borrower has reported financial results, annualized:
|
$______
|
|
|
|
|
|
|
|
B.
|
Aggregate square footage of all Operating Properties
multiplied by
$0.15:
|
$______
|
|
|
|
|
|
|
|
C.
|
Fixed Charges (from
Schedule 2
):
|
$______
|
|
|
|
|
|
|
|
D.
|
Fixed Charge Coverage Ratio (Line IV.A - Line IV.B) Line IV.C):
|
___ to 1.0
|
|
|
|
|
|
|
|
|
Minimum required:
|
1.5 to 1.0
|
|
|
|
|
|
|
III.
|
Section 6.01(a)(iii) - Maximum Secured Leverage Ratio.
|
|||
|
|
|
|
|
|
A.
|
Total Secured Indebtedness (from
Schedule 2
):
|
$______
|
|
|
|
|
|
|
|
B.
|
Balance Sheet Cash (from Line I.B above):
|
$______
|
|
|
|
|
|
|
|
C.
|
Total Asset Value (from
Schedule 2
):
|
$______
|
|
|
|
|
|
|
|
D.
|
Secured Leverage Ratio ((Line II.A - Line II.B) Line II.C):
|
____%
|
|
|
|
|
|
|
|
|
Maximum permitted:
|
40%
|
|
6
Ratio may exceed 60%, but shall not exceed 65% for a period of up to 4 fiscal quarters following a Major Acquisition
|
IV.
|
Section 6.01(a)(iv) - Maximum Unsecured Leverage Ratio.
|
|||
|
|
|
|
|
|
A.
|
Total Unsecured Indebtedness (from
Schedule 2
):
|
$______
|
|
|
|
|
|
|
|
B.
|
Unrestricted Cash and cash from like-kind exchanges:
|
$______
|
|
|
|
|
|
|
|
C.
|
Unencumbered Asset Value (from
Schedule 2
):
|
$______
|
|
|
|
|
|
|
|
D.
|
Unsecured Leverage Ratio ((Line IV.A - Line IV.B) Line IV.C):
|
____%
|
|
|
|
|
|
|
|
|
Maximum permitted:
|
60%
7
|
|
|
|
|
|
|
1.
|
Fixed Charges
equals the sum of the following:
|
(a)
|
Total Interest Expense
|
$______
|
(b)
|
plus
all scheduled principal payments due on Total Outstanding Indebtedness (excluding balloon payments)
|
$______
|
(c)
|
plus
all dividends payable on account of preferred stock or preferred operating partnership units of the Borrower or any other Person in the Consolidated Group (excluding (x) redemption payments or repurchases or charges in connection with the final redemption or repurchase in whole of any class of preferred stock or preferred operating partnership units and (y) catch-up dividend payments with respect to accrued payments that were included in Fixed Charges for a prior period)
|
$______
|
|
|
|
|
Fixed Charges:
|
$______
|
2.
|
Total Asset Value
equals the sum of the following as of the Statement Date for the Consolidated Group and the Investment Affiliates (in each case, in an amount equal to the Ownership Share for each member of the Consolidated Group and each Investment Affiliate):
|
3.
|
Total Capitalization Value
equals the sum of the following as of the Statement Date for the Consolidated Group and the Investment Affiliates (in each case, in an amount equal to the Ownership Share for each member of the Consolidated Group and each Investment Affiliate):
|
(a)
|
Ownership Share of Net Operating Income from Stabilized Projects of the Consolidated Group for the most recent 6 months for which the Borrower has reported financial results, annualized,
divided by
6.75%
|
$______
|
(b)
|
plus
Ownership Share of Net Operating Income from Stabilized Projects owned by Investment Affiliates for the most recent 6 months for which the Borrower has reported financial results, annualized,
divided by
6.75%
|
$______
|
(c)
|
plus
Management Fees received by the Consolidated Group for the most recent 6 months for which the Borrower has reported financial results, annualized,
divided by
6.75%
|
$______
|
(d)
|
plus
Acquisition Assets valued at the greater of (i) capitalization value
1
(so long as owned for at least 6 months) or (ii) acquisition cost
|
$______
|
(e)
|
minus
, if the amount in (c) exceeds 5% of the sum of (a) through (d), the amount of such excess
|
$______
|
|
|
|
|
Total Capitalization Value:
|
$______
|
4.
|
Total Outstanding Indebtedness
equals the sum of the following, without duplication, as of the Statement Date:
|
(a)
|
Ownership Share of all Indebtedness of the Consolidated Group
|
$______
|
(b)
|
plus
applicable Ownership Share of any Indebtedness of each Investment Affiliate other than Indebtedness of such Investment Affiliate to a member of the Consolidated Group
|
$______
|
|
|
|
|
Total Outstanding Indebtedness:
|
$______
|
5.
|
Total Secured Indebtedness
equals the sum of the following as of the Statement Date:
|
(a)
|
aggregate principal amount of the portion of Total Outstanding Indebtedness (from
Section 5
above) that is Secured Indebtedness
|
$______
|
(b)
|
plus
aggregate principal amount of any Unsecured Indebtedness of a Subsidiary of the Borrower that is to be treated as Secured Indebtedness in accordance with Section 5.10(a) of the Agreement
|
$______
|
|
|
|
|
Total Secured Indebtedness:
|
$______
|
6.
|
Unencumbered Asset Value
equals the sum of the following as of the Statement Date (in each case, in an amount equal to the Ownership Share for each member of the Consolidated Group):
|
(a)
|
Net Operating Income from Stabilized Projects that are Unencumbered Assets for the most recent 6 months for which the Borrower has reported results, annualized,
divided by
6.75%
|
$______
|
(b)
|
plus
then-current Book Value of Assets Under Development that are Unencumbered Assets
|
$______
|
(c)
|
plus
then-current Book Value of Land that is an Unencumbered Asset
|
$______
|
(d)
|
plus
Acquisition Assets that are Unencumbered Assets valued at the greater of (i) capitalization value
2
(if owned for at least 6 months) or (ii) acquisition cost
|
$______
|
(e)
|
plus
Non-Stabilized Projects (from
Schedule 3
) that are Unencumbered Assets, as determined individually for each such unencumbered Non-Stabilized Project, at the then-current Book Value thereof
|
$______
|
(f)
|
plus
, 75% of the amount of Management Fees received by the Consolidated Group for the most recent 6 months for which the Borrower has reported results, annualized,
divided by
15%
|
$______
|
(g)
|
minus
, if the amount in (b) exceeds 10% of the sum of (a) through (f), the amount of such excess
|
$______
|
(h)
|
minus
, if the amount in (c) exceeds 5% of the sum of (a) through (f), the amount of such excess
|
$______
|
(i)
|
minus
, if the amount in (f) exceeds 5% of the sum of (a) through (f), the amount of such excess
|
$______
|
(j)
|
minus
, if the amount of Unencumbered Asset Value from Unencumbered Assets that are 1031 Properties exceeds 5% of the sum of (a) through (f), the amount of such excess
|
$______
|
|
|
|
|
Unencumbered Asset Value:
|
$______
|
[NAME OF LENDER]
|
|
By:
|
|
|
Name:
|
|
Title:
|
[NAME OF LENDER]
|
|
By:
|
|
|
Name:
|
|
Title:
|
[NAME OF LENDER]
|
|
By:
|
|
|
Name:
|
|
Title:
|
[NAME OF LENDER]
|
|
By:
|
|
|
Name:
|
|
Title:
|
Date
|
Amount of
Loan
Made
|
Interest
Period
(If
Applicable)
|
Amount of
Principal Repaid
|
Unpaid
Principal Balance
|
Total
|
Notation
Made By
|
|||
ABR
|
Eurodollar Rate
|
ABR
|
Eurodollar Rate
|
ABR
|
Eurodollar Rate
|
||||
|
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|
|
|
1.
|
On [___________], 201_ (the “
Borrowing Date
”)
10
.
|
2.
|
In the principal amount of $________.
11
|
3.
|
Comprised of [Eurodollar Borrowing][ABR Borrowing].
|
4.
|
For Eurodollar Borrowings: with an Interest Period of ___ months.
|
5.
|
To be wired to the following account in accordance with Section 2.07 of the Credit Agreement: [Location] [Name] [Account Number].
|
Borrower:
Brixmor Operating Partnership LP
|
|
Administrative Agent:
Wells Fargo Bank, National Association
|
|
Loan:
Loan number 1017438 made pursuant to that certain “Credit Agreement” dated as of 7/27/2017 between Borrower, Administrative Agent, Wells Fargo Securities, LLC and Lenders, as amended from time to time
|
|
Effective Date:
7/27/2017
|
|
Check applicable box:
|
|
X
|
New
- This is the first Disbursement Instruction Agreement submitted in connection with the Loan.
|
*
|
Replace Previous Agreement
- This is a replacement Disbursement Instruction Agreement. All prior instructions submitted in connection with this Loan are cancelled as of the Effective Date set forth above.
|
(1)
|
to designate an individual or individuals with authority to request disbursements of Loan proceeds, whether at the time of Loan closing/origination or thereafter;
|
(2)
|
to designate an individual or individuals with authority to request disbursements of funds from Restricted Accounts (as defined in the Terms and Conditions attached to this Agreement), if applicable; and
|
(3)
|
to provide Administrative Agent with specific instructions for wiring or transferring funds on Borrower’s behalf.
|
Disbursement of Loan Proceeds at Origination/Closing
|
||
Closing Disbursement Authorizers
: Administrative Agent is authorized to accept one or more Disbursement Requests from any of the individuals named below (each, a “
Closing Disbursement Authorizer
”) to disburse Loan proceeds on or about the date of the Loan origination/closing and to initiate Disbursements in connection therewith (each, a “
Closing Disbursement
”):
|
||
|
Individual’s Name
|
Title
|
1.
|
|
|
2.
|
|
|
3.
|
|
|
Describe Restrictions, if any, on the authority of the Closing Disbursement Authorizers (dollar amount limits, wire/deposit destinations, etc.):
N/A
If there are no restrictions described here, any Closing Disbursement Authorizer may submit a Disbursement Request for all available Loan proceeds.
|
Permitted Wire Transfers:
Disbursement Requests for the Closing Disbursement(s) to be made by wire transfer must specify the amount and applicable Receiving Party. Each Receiving Party included in any such Disbursement Request must be listed below. Administrative Agent is authorized to use the wire instructions that have been provided directly to Administrative Agent by the Receiving Party or Borrower and attached as the Closing Exhibit.
All wire instructions must be in the format specified on the Closing Exhibit.
|
|
|
Names of Receiving Parties for the Closing Disbursement(s) (may include as many parties as needed; wire instructions for each Receiving Party must be attached as the Closing Exhibit)
|
1.
|
|
2.
|
|
3.
|
|
Direct Deposit:
Disbursement Requests for the Closing Disbursement(s) to be deposited into an account at Wells Fargo Bank, N.A. must specify the amount and applicable account. Each account included in any such Disbursement Request must be listed below.
|
Name on Deposit Account:
|
Wells Fargo Bank, N.A. Deposit Account Number:
|
Further Credit Information/Instructions:
|
Transfer/Deposit Funds to (Receiving Party Account Name)
|
Receiving Party Deposit Account Number
|
Receiving Bank Name, City and State
|
Receiving Bank Routing (ABA) Number
|
Further identifying information, if applicable (title escrow number, borrower name, loan number, etc.)
|
•
|
Executed 2.9 million square feet of total leasing volume, including options, at comparable rent spreads of 13.7%
|
•
|
Executed 1.9 million square feet of new and renewal leases at comparable rent spreads of 16.8%, including 0.8 million square feet of new
|
•
|
Achieved new and renewal lease ABR PSF of $16.65, highest since IPO
|
•
|
Increased small shop leased occupancy by 80 basis points year-over-year to 85.0%; Overall leased occupancy declined to 92.0%, driven
|
•
|
Generated same property NOI growth of 1.3%, with same property base rent growth of 2.5%
|
•
|
Grew FFO per diluted share 3.6% year-over-year, excluding non-cash GAAP rental adjustments and lease termination fees
|
•
|
Completed $75.5 million of dispositions, with an additional $20.8 million completed subsequent to June 30, 2017
|
•
|
Issued $500.0 million of 3.650% Senior Notes due 2024 and entered into a $300.0 million seven-year unsecured term loan
|
•
|
For the three months ended June 30, 2017 and 2016, net income attributable to common stockholders was $75.4 million, or $0.25 per
|
•
|
For the six months ended June 30, 2017 and 2016, net income attributable to common stockholders was $147.0 million, or $0.48 per diluted
|
•
|
For the three months ended June 30, 2017 and 2016, NAREIT FFO was $161.9 million, or $0.53 per diluted share, and $152.7 million, or $0.50 per diluted share, respectively. Results for the three months ended June 30, 2017 include litigation and other non-routine legal expenses and other items that impact FFO comparability of ($1.5) million, or ($0.00) per diluted share. Results for the three months ended June 30, 2016 include executive equity based compensation, executive severance expenses and other items that impact FFO comparability of ($6.0) million, or ($0.02) per diluted share.
|
•
|
For the six months ended June 30, 2017 and 2016, NAREIT FFO was $323.4 million, or $1.06 per diluted share, and $314.0 million, or $1.03 per diluted share, respectively. Results for the six months ended June 30, 2017 include litigation and other non-routine legal expenses and a loss on extinguishment of debt of ($3.0) million, or ($0.01) per diluted share. Results for the six months ended June 30, 2016 include expenses related to the previously disclosed review conducted by the Company’s Audit Committee, executive severance expenses and other items that impact FFO comparability of ($7.0) million, or ($0.02) per diluted share.
|
•
|
Same property NOI for the three months ended June 30, 2017 increased 1.3% from the comparable 2016 period.
|
◦
|
Same property base rent for the three months ended June 30, 2017 contributed 260 basis points to same property NOI growth.
|
•
|
Same property NOI for the six months ended June 30, 2017 increased 2.3% from the comparable 2016 period.
|
◦
|
Same property base rent for the six months ended June 30, 2017 contributed 250 basis points to same property NOI growth.
|
•
|
The Company’s Board of Directors declared a quarterly cash dividend of $0.26 per common share (equivalent to $1.04 per annum) for the third quarter of 2017.
|
•
|
The dividend is payable on October 16, 2017 to stockholders of record on October 5, 2017, representing an ex-dividend date of October 4, 2017.
|
•
|
During the three months ended June 30, 2017, the Company completed two anchor space repositioning projects and added six new projects to its in process pipeline. At June 30, 2017, the anchor space repositioning in process pipeline was comprised of 21 projects with an aggregate net estimated cost of approximately $44.0 million at expected average incremental NOI yields of 12 to 14%.
|
•
|
During the three months ended June 30, 2017, the Company completed two outparcel developments and added one new project to its in process pipeline. At June 30, 2017, the outparcel development in process pipeline was comprised of six projects with an aggregate net estimated cost of approximately $10.3 million at an expected average incremental NOI yield of 12%. In addition, the new development in process pipeline was comprised of one project, with a net estimated cost of approximately $37.8 million at an expected NOI yield of 9%.
|
•
|
During the three months ended June 30, 2017, the Company added one new redevelopment project to its in process pipeline. At June 30, 2017, the redevelopment in process pipeline was comprised of 12 projects with an aggregate net estimated cost of approximately $165.4 million at an expected average incremental NOI yield of 9%.
|
•
|
During the three months ended June 30, 2017, the Company acquired two outparcels and one building at existing shopping centers for a combined purchase price of $6.9 million.
|
•
|
During the three months ended June 30, 2017, the Company generated approximately $75.5 million of gross proceeds on the sale of five assets, including Eustis Village located in Eustis, Florida, McKinley Plaza located in Hamburg, New York, Fitchburg Ridge Shopping Center located in Fitchburg, Wisconsin and WalMart parcels at Liberty Plaza located in Randallstown, Maryland and at Market Centre located in Goshen, Indiana.
|
•
|
In July 2017, the Company generated approximately $20.8 million of additional gross proceeds on the sale of Frankfort Crossing Shopping Center in Frankfort, Illinois.
|
•
|
During the three months ended June 30, 2017, the Company’s Operating Partnership, Brixmor Operating Partnership LP, issued $500.0 million aggregate principal amount of 3.650% Senior Notes due 2024 at 99.576% of par value. Proceeds from the offering were utilized to prepay $283.3 million of secured mortgages and $100.0 million of the Company’s Tranche A Term Loan maturing July 31, 2018 and to repay amounts outstanding under the Company’s $1.25 billion unsecured revolving credit facility.
|
•
|
The Company also announced today that its Operating Partnership entered into a new $300.0 million variable rate unsecured term loan facility. The term loan facility has a seven-year term maturing on July 26, 2024, with no available extension options, and will bear interest at an effective interest rate of Libor plus 190 basis points (based on the Operating Partnership’s current credit ratings). Proceeds from the term loan facility were used to prepay $300.0 million of the Company’s Tranche A Term Loan maturing July 31, 2018.
|
•
|
Wells Fargo Securities, LLC, PNC Capital Markets LLC, U.S. Bank National Association, Bank of Montreal and SunTrust Robinson Humphrey, Inc. served collectively as lead arrangers, with Wells Fargo Bank, National Association serving as administrative agent, PNC Bank, National Association and U.S. Bank National Association serving as co-syndication agents and Bank of Montreal and SunTrust Bank serving as co-documentation agents.
|
•
|
On a pro forma basis, the Company extended its weighted average maturity to 5.6 years, while reducing scheduled maturing debt in 2018 to $210.0 million from $1.0 billion at December 31, 2016. A pro forma maturity chart follows:
|
•
|
During the three months ended June 30, 2017, the Company entered into a preliminary agreement to settle the putative securities class action complaint filed in March 2016 related to the previously disclosed review conducted by the Company’s Audit Committee. The settlement amount is within the coverage amount of the Company’s applicable insurance policies. There can be no assurance that a final settlement agreement will be reached or that any such settlement will be approved by the Court.
|
•
|
The Company is affirming its previously provided NAREIT FFO per diluted share expectations for 2017. Key underlying assumptions are updated as indicated below:
|
2017E
(
dollars in millions, except per share amounts)
|
|
Updated Guidance
|
|
Prior Guidance
|
NAREIT FFO per diluted share
(1)
|
|
$2.05 - $2.12
|
|
$2.05 - $2.12
|
Key Underlying Assumptions:
|
|
|
|
|
Same property NOI growth
|
|
2.0 - 3.0%
|
|
2.0 - 3.0%
|
Straight-line rental income, amortization of above- and below-market
|
|
|
|
|
rent and tenant inducements and straight-line ground rent expense
|
|
$44 - $46
|
|
$40 - $44
|
General and administrative expenses
(1)(2)
|
|
$88 - $92
|
|
$86 - $90
|
GAAP interest expense
(3)
|
|
$228 - $230
|
|
$226 - $230
|
Value enhancing capital expenditures
|
|
$110 - $135
|
|
$120 - $150
|
•
|
The following table provides a reconciliation of the range of the Company’s 2017 estimated net income attributable to common stockholders to NAREIT FFO:
|
|
|
2017E
|
|
|
2017E Per Diluted
|
|
(Unaudited, dollars in millions, except per share amounts)
|
|
|
|
Share
|
|
|
Net income attributable to common stockholders
|
|
$271 - $292
|
|
|
$0.89 - $0.96
|
|
Depreciation and amortization
|
|
368
|
|
|
1.20
|
|
Impairment of operating properties
|
|
16
|
|
|
0.05
|
|
Gain on disposition of operating properties
|
|
(29
|
)
|
|
(0.09
|
)
|
NAREIT FFO
|
|
$626 - $647
|
|
|
$2.05 - $2.12
|
|
•
|
For additional information, please visit
www.brixmor.com
;
|
•
|
Follow Brixmor on Twitter at
www.twitter.com/Brixmor
;
|
•
|
Find Brixmor on LinkedIn at
www.linkedin.com/company/brixmor
.
|
CONSOLIDATED BALANCE SHEETS
|
|
|
|
|
||||||||
Unaudited, dollars in thousands, except share information
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
As of
|
|
As of
|
|
||||
|
|
|
|
|
6/30/17
|
|
12/31/16
|
|
||||
|
Assets
|
|
|
|
|
|||||||
|
|
Real estate
|
|
|
|
|
||||||
|
|
|
Land
|
$
|
2,005,648
|
|
|
$
|
2,006,655
|
|
|
|
|
|
|
Buildings and tenant improvements
|
8,135,450
|
|
|
8,043,855
|
|
|
|||
|
|
|
Construction in progress
|
55,318
|
|
|
121,817
|
|
|
|||
|
|
|
Lease intangibles
|
818,688
|
|
|
836,731
|
|
|
|||
|
|
|
|
|
11,015,104
|
|
|
11,009,058
|
|
|
||
|
|
|
Accumulated depreciation and amortization
|
(2,280,581
|
)
|
|
(2,167,054
|
)
|
|
|||
|
|
Real estate, net
|
8,734,523
|
|
|
8,842,004
|
|
|
||||
|
|
Investments in and advances to unconsolidated joint venture
|
7,972
|
|
|
7,921
|
|
|
||||
|
|
Cash and cash equivalents
|
54,479
|
|
|
51,402
|
|
|
||||
|
|
Restricted cash
|
68,165
|
|
|
51,467
|
|
|
||||
|
|
Marketable securities
|
24,775
|
|
|
25,573
|
|
|
||||
|
|
Receivables, net of allowance for doubtful accounts of $15,252 and $16,756
|
219,241
|
|
|
178,216
|
|
|
||||
|
|
Deferred charges and prepaid expenses, net
|
131,175
|
|
|
122,787
|
|
|
||||
|
|
Other assets
|
56,744
|
|
|
40,315
|
|
|
||||
|
Total assets
|
$
|
9,297,074
|
|
|
$
|
9,319,685
|
|
|
|||
|
|
|
|
|
|
|
|
|
||||
|
Liabilities
|
|
|
|
|
|||||||
|
|
Debt obligations, net
|
$
|
5,819,948
|
|
|
$
|
5,838,889
|
|
|
||
|
|
Accounts payable, accrued expenses and other liabilities
|
561,378
|
|
|
553,636
|
|
|
||||
|
Total liabilities
|
6,381,326
|
|
|
6,392,525
|
|
|
|||||
|
|
|
|
|
|
|
|
|
||||
|
Equity
|
|
|
|
|
|||||||
|
|
Common stock, $0.01 par value; authorized 3,000,000,000 shares;
|
|
|
|
|
||||||
|
|
|
304,935,735 and 304,343,141 shares outstanding
|
3,049
|
|
|
3,043
|
|
|
|||
|
|
Additional paid in capital
|
3,330,885
|
|
|
3,324,874
|
|
|
||||
|
|
Accumulated other comprehensive income
|
21,027
|
|
|
21,519
|
|
|
||||
|
|
Distributions in excess of net income
|
(439,213
|
)
|
|
(426,552
|
)
|
|
||||
|
Total stockholders' equity
|
2,915,748
|
|
|
2,922,884
|
|
|
|||||
|
|
Non-controlling interests
|
—
|
|
|
4,276
|
|
|
||||
|
Total equity
|
2,915,748
|
|
|
2,927,160
|
|
|
|||||
|
Total liabilities and equity
|
$
|
9,297,074
|
|
|
$
|
9,319,685
|
|
|
|
viii
|
|
CONSOLIDATED STATEMENTS OF OPERATIONS
|
|
|
|
|
|||||||||||||||
Unaudited, dollars in thousands, except per share amounts
|
|
|
|
|
|
|
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
Three Months Ended
|
|
Six Months Ended
|
||||||||||||
|
|
|
|
|
6/30/17
|
|
6/30/16
|
|
6/30/17
|
|
6/30/16
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Revenues
|
|
|
|
|
|
|
|
|||||||||||
|
|
Rental income
|
$
|
253,777
|
|
|
$
|
245,575
|
|
|
$
|
503,398
|
|
|
$
|
496,721
|
|
||
|
|
Expense reimbursements
|
67,039
|
|
|
61,763
|
|
|
140,229
|
|
|
131,475
|
|
||||||
|
|
Other revenues
|
2,002
|
|
|
2,719
|
|
|
4,997
|
|
|
4,965
|
|
||||||
|
Total revenues
|
322,818
|
|
|
310,057
|
|
|
648,624
|
|
|
633,161
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Operating expenses
|
|
|
|
|
|
|
|
|||||||||||
|
|
Operating costs
|
33,025
|
|
|
31,415
|
|
|
70,450
|
|
|
66,466
|
|
||||||
|
|
Real estate taxes
|
44,064
|
|
|
38,683
|
|
|
90,531
|
|
|
83,074
|
|
||||||
|
|
Depreciation and amortization
|
96,870
|
|
|
95,818
|
|
|
190,801
|
|
|
196,297
|
|
||||||
|
|
Provision for doubtful accounts
|
1,757
|
|
|
1,621
|
|
|
2,807
|
|
|
4,361
|
|
||||||
|
|
Impairment of real estate assets
|
10,632
|
|
|
—
|
|
|
16,318
|
|
|
—
|
|
||||||
|
|
General and administrative
|
23,248
|
|
|
27,198
|
|
|
44,205
|
|
|
47,922
|
|
||||||
|
Total operating expenses
|
209,596
|
|
|
194,735
|
|
|
415,112
|
|
|
398,120
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Other income (expense)
|
|
|
|
|
|
|
|
|||||||||||
|
|
Dividends and interest
|
85
|
|
|
319
|
|
|
158
|
|
|
392
|
|
||||||
|
|
Interest expense
|
(57,443
|
)
|
|
(56,184
|
)
|
|
(113,174
|
)
|
|
(113,627
|
)
|
||||||
|
|
Gain on sale of real estate assets
|
20,173
|
|
|
7,782
|
|
|
28,978
|
|
|
7,782
|
|
||||||
|
|
Gain (loss) on extinguishment of debt, net
|
(78
|
)
|
|
93
|
|
|
(1,340
|
)
|
|
93
|
|
||||||
|
|
Other
|
(684
|
)
|
|
(1,981
|
)
|
|
(1,391
|
)
|
|
(2,888
|
)
|
||||||
|
Total other expense
|
(37,947
|
)
|
|
(49,971
|
)
|
|
(86,769
|
)
|
|
(108,248
|
)
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Income before equity in income of unconsolidated joint venture
|
75,275
|
|
|
65,351
|
|
|
146,743
|
|
|
126,793
|
|
|||||||
|
Equity in income of unconsolidated joint venture
|
163
|
|
|
119
|
|
|
350
|
|
|
226
|
|
|||||||
|
Net income
|
75,438
|
|
|
65,470
|
|
|
147,093
|
|
|
127,019
|
|
|||||||
|
Net income attributable to non-controlling interests
|
—
|
|
|
(1,014
|
)
|
|
(76
|
)
|
|
(2,086
|
)
|
|||||||
|
Net income attributable to Brixmor Property Group Inc.
|
75,438
|
|
|
64,456
|
|
|
147,017
|
|
|
124,933
|
|
|||||||
|
Preferred stock dividends
|
(39
|
)
|
|
—
|
|
|
(39
|
)
|
|
—
|
|
|||||||
|
Net income attributable to common stockholders
|
$
|
75,399
|
|
|
$
|
64,456
|
|
|
$
|
146,978
|
|
|
$
|
124,933
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Per common share:
|
|
|
|
|
|
|
|
|||||||||||
|
|
Net income attributable to common stockholders:
|
|
|
|
|
|
|
|
||||||||||
|
|
|
Basic
|
$
|
0.25
|
|
|
$
|
0.21
|
|
|
$
|
0.48
|
|
|
$
|
0.42
|
|
|
|
|
|
Diluted
|
$
|
0.25
|
|
|
$
|
0.21
|
|
|
$
|
0.48
|
|
|
$
|
0.42
|
|
|
|
|
Weighted average shares:
|
|
|
|
|
|
|
|
||||||||||
|
|
|
Basic
|
304,914
|
|
|
299,872
|
|
|
304,743
|
|
|
299,526
|
|
|||||
|
|
|
Diluted
|
305,115
|
|
|
300,204
|
|
|
305,125
|
|
|
304,861
|
|
|
ix
|
|
|
x
|
|
SAME PROPERTY NOI ANALYSIS
|
|
|
|
|
|
|
||||||||||||||||||
Unaudited, dollars in thousands
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
Three Months Ended
|
|
|
|
Six Months Ended
|
|
|
||||||||||||
|
|
|
|
|
|
6/30/17
|
|
6/30/16
|
|
Change
|
|
6/30/17
|
|
6/30/16
|
|
Change
|
||||||||
|
Same Property NOI Analysis (1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Number of properties
|
|
504
|
|
|
504
|
|
|
—
|
|
504
|
|
|
504
|
|
|
—
|
|||||||
|
Percent billed
|
|
89.9
|
%
|
|
90.5
|
%
|
|
(0.6%)
|
|
89.9
|
%
|
|
90.5
|
%
|
|
(0.6%)
|
|||||||
|
Percent leased
|
|
92.0
|
%
|
|
92.7
|
%
|
|
(0.7%)
|
|
92.0
|
%
|
|
92.7
|
%
|
|
(0.7%)
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
|
Base rent
|
|
$
|
229,811
|
|
|
$
|
224,172
|
|
|
|
|
$
|
458,903
|
|
|
$
|
447,865
|
|
|
|
||
|
|
Ancillary and other
|
|
3,889
|
|
|
3,910
|
|
|
|
|
7,505
|
|
|
7,662
|
|
|
|
||||||
|
|
Expense reimbursements
|
|
65,848
|
|
|
60,684
|
|
|
|
|
137,927
|
|
|
129,254
|
|
|
|
||||||
|
|
Percentage rents
|
|
1,958
|
|
|
2,310
|
|
|
|
|
4,854
|
|
|
4,246
|
|
|
|
||||||
|
|
|
|
|
|
301,506
|
|
|
291,076
|
|
|
3.6%
|
|
609,189
|
|
|
589,027
|
|
|
3.4%
|
||||
|
Operating expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
|
Operating costs
|
|
(32,158
|
)
|
|
(30,131
|
)
|
|
|
|
(69,113
|
)
|
|
(64,644
|
)
|
|
|
||||||
|
|
Real estate taxes
|
|
(43,273
|
)
|
|
(37,977
|
)
|
|
|
|
(88,954
|
)
|
|
(81,652
|
)
|
|
|
||||||
|
|
Provision for doubtful accounts
|
|
(1,751
|
)
|
|
(1,587
|
)
|
|
|
|
(2,721
|
)
|
|
(4,268
|
)
|
|
|
||||||
|
|
|
|
|
|
(77,182
|
)
|
|
(69,695
|
)
|
|
10.7%
|
|
(160,788
|
)
|
|
(150,564
|
)
|
|
6.8%
|
||||
|
Same property NOI
|
|
$
|
224,324
|
|
|
$
|
221,381
|
|
|
1.3%
|
|
$
|
448,401
|
|
|
$
|
438,463
|
|
|
2.3%
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Same property NOI excluding redevelopments (2)
|
|
$
|
211,981
|
|
|
$
|
209,635
|
|
|
1.1%
|
|
$
|
423,590
|
|
|
$
|
414,778
|
|
|
2.1%
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
NOI margin
|
|
74.4
|
%
|
|
76.1
|
%
|
|
|
|
73.6
|
%
|
|
74.4
|
%
|
|
|
|||||||
|
Expense recovery ratio
|
|
87.3
|
%
|
|
89.1
|
%
|
|
|
|
87.3
|
%
|
|
88.4
|
%
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Percent contribution to same property NOI growth:
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
|
|
|
|
|
Change
|
|
Percent Contribution
|
|
|
|
Change
|
|
Percent Contribution
|
|
|
||||||||
|
|
Base rent
|
|
$
|
5,639
|
|
|
2.6%
|
|
|
|
$
|
11,038
|
|
|
2.5%
|
|
|
||||||
|
|
Ancillary and other
|
|
(21
|
)
|
|
0.0%
|
|
|
|
(157
|
)
|
|
0.0%
|
|
|
||||||||
|
|
Net recoveries
|
|
(2,159
|
)
|
|
(1.0%)
|
|
|
|
(3,098
|
)
|
|
(0.7%)
|
|
|
||||||||
|
|
Percentage rents
|
|
(352
|
)
|
|
(0.2%)
|
|
|
|
608
|
|
|
0.1%
|
|
|
||||||||
|
|
Provision for doubtful accounts
|
|
(164
|
)
|
|
(0.1%)
|
|
|
|
1,547
|
|
|
0.4%
|
|
|
||||||||
|
|
|
|
|
|
|
|
1.3%
|
|
|
|
|
|
2.3%
|
|
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Reconciliation of Net Income Attributable to Common Stockholders to Same Property NOI
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
Same property NOI (1)
|
|
$
|
224,324
|
|
|
$
|
221,381
|
|
|
|
|
$
|
448,401
|
|
|
$
|
438,463
|
|
|
|
|||
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
|
Non-same property NOI
|
|
3,402
|
|
|
4,419
|
|
|
|
|
6,989
|
|
|
8,882
|
|
|
|
||||||
|
|
Lease termination fees
|
|
2,575
|
|
|
766
|
|
|
|
|
3,241
|
|
|
6,363
|
|
|
|
||||||
|
|
Straight-line rental income, net
|
|
6,835
|
|
|
3,659
|
|
|
|
|
12,085
|
|
|
6,519
|
|
|
|
||||||
|
|
Amortization of above- and below-market rent and tenant inducements, net
|
|
7,016
|
|
|
8,857
|
|
|
|
|
14,470
|
|
|
19,661
|
|
|
|
||||||
|
|
Fee income
|
|
56
|
|
|
343
|
|
|
|
|
137
|
|
|
638
|
|
|
|
||||||
|
|
Straight-line ground rent expense
|
|
(32
|
)
|
|
(901
|
)
|
|
|
|
(73
|
)
|
|
(897
|
)
|
|
|
||||||
|
|
Depreciation and amortization
|
|
(96,870
|
)
|
|
(95,818
|
)
|
|
|
|
(190,801
|
)
|
|
(196,297
|
)
|
|
|
||||||
|
|
Impairment of real estate assets
|
|
(10,632
|
)
|
|
—
|
|
|
|
|
(16,318
|
)
|
|
—
|
|
|
|
||||||
|
|
General and administrative
|
|
(23,248
|
)
|
|
(27,198
|
)
|
|
|
|
(44,205
|
)
|
|
(47,922
|
)
|
|
|
||||||
|
|
Total other expense
|
|
(37,947
|
)
|
|
(49,971
|
)
|
|
|
|
(86,769
|
)
|
|
(108,248
|
)
|
|
|
||||||
|
|
Pro rata share of same property NOI of unconsolidated joint venture
|
|
(204
|
)
|
|
(186
|
)
|
|
|
|
(414
|
)
|
|
(369
|
)
|
|
|
||||||
|
|
Equity in income of unconsolidated joint venture
|
|
163
|
|
|
119
|
|
|
|
|
350
|
|
|
226
|
|
|
|
||||||
|
|
Net income attributable to non-controlling interests
|
|
—
|
|
|
(1,014
|
)
|
|
|
|
(76
|
)
|
|
(2,086
|
)
|
|
|
||||||
|
|
Preferred stock dividends
|
|
(39
|
)
|
|
—
|
|
|
|
|
(39
|
)
|
|
—
|
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Net income attributable to common stockholders
|
|
$
|
75,399
|
|
|
$
|
64,456
|
|
|
|
|
$
|
146,978
|
|
|
$
|
124,933
|
|
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
(1) Includes unconsolidated joint venture, Montecito Marketplace, at pro rata share.
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
(2) Redevelopments include only completed and in process projects.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
xi
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SUPPLEMENTAL DISCLOSURE
|
||||||||||||||
|
|||||||||||||||
|
|||||||||||||||
|
|||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, 2017
|
|
|
|
|
|
|
|||||||
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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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
|
|
|
|
|
EBITDA
|
7
|
|
|
|
|
Funds From Operations (FFO)
|
8
|
|
|
|
|
Supplemental Balance Sheet Detail
|
9
|
|
|
|
|
NOI & Supplemental Statement of Operations Detail
|
10
|
|
|
|
|
Same Property NOI Analysis
|
11
|
|
|
|
|
Capital Expenditures
|
12
|
|
|
|
|
Capitalization, Liquidity & Debt Ratios
|
13
|
|
|
|
|
Debt Overview
|
14
|
|
|
|
|
Summary of Outstanding Debt
|
15
|
|
|
|
|
Covenant Disclosure
|
16
|
|
|
|
Investment Summary
|
|
|
|
|
|
|
Acquisitions
|
18
|
|
|
|
|
Dispositions
|
19
|
|
|
|
|
Anchor Space Repositioning Summary
|
20
|
|
|
|
|
Outparcel Development & New Development Summary
|
21
|
|
|
|
|
Redevelopment Summary
|
22
|
|
|
|
|
Future Redevelopment Opportunities
|
23
|
|
|
|
Portfolio Summary
|
|
|
|
|
|
|
Portfolio Overview
|
26
|
|
|
|
|
Top Forty Retailers Ranked by ABR
|
27
|
|
|
|
|
New & Renewal Lease Summary
|
28
|
|
|
|
|
New Lease Net Effective Rent
|
29
|
|
|
|
|
Lease Expiration Schedule
|
30
|
|
|
|
|
Properties by Largest US MSAs
|
31
|
|
|
|
|
Largest MSAs by ABR
|
33
|
|
|
|
|
Properties by State
|
36
|
|
|
|
|
Property List
|
37
|
|
|
|
Guidance
|
|
|
|
|
|
|
Guidance & Additional Disclosures
|
49
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note: Financial information is unaudited.
|
|
|
||
|
|
|
|
|
|
|
For additional information, please visit www.brixmor.com, follow Brixmor on Twitter at www.twitter.com/Brixmor or find Brixmor on LinkedIn at www.linkedin.com/company/brixmor.
|
||||
|
|||||
|
|
|
|
|
|
|
This Supplemental Disclosure may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to the Company’s expectations regarding the performance of its business, its financial results, its liquidity and capital resources and other non-historical statements. You can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including those described under the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this document and in the Company’s filings with the SEC. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
|
||||
|
|||||
|
|||||
|
|||||
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|
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|
||||
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
1
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
2
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
3
|
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|
|
|
|
|
|
FINANCIAL SUMMARY
|
||||||||||||||
|
|||||||||||||||
|
|||||||||||||||
|
|||||||||||||||
|
|
|
|
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|
|
|
|
|
|
|
|
|
Supplemental Disclosure
Three Months Ended June 30, 2017
|
|
||||||||||||
|
|
|
|||||||||||||
|
|
|
|||||||||||||
|
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|
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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
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
As of
|
|
As of
|
|
||||
|
|
|
|
|
6/30/17
|
|
12/31/16
|
|
||||
|
Assets
|
|
|
|
|
|||||||
|
|
Real estate
|
|
|
|
|
||||||
|
|
|
Land
|
$
|
2,005,648
|
|
|
$
|
2,006,655
|
|
|
|
|
|
|
Buildings and tenant improvements
|
8,135,450
|
|
|
8,043,855
|
|
|
|||
|
|
|
Construction in progress
|
55,318
|
|
|
121,817
|
|
|
|||
|
|
|
Lease intangibles
|
818,688
|
|
|
836,731
|
|
|
|||
|
|
|
|
|
11,015,104
|
|
|
11,009,058
|
|
|
||
|
|
|
Accumulated depreciation and amortization
|
(2,280,581
|
)
|
|
(2,167,054
|
)
|
|
|||
|
|
Real estate, net
|
8,734,523
|
|
|
8,842,004
|
|
|
||||
|
|
Investments in and advances to unconsolidated joint venture
|
7,972
|
|
|
7,921
|
|
|
||||
|
|
Cash and cash equivalents
|
54,479
|
|
|
51,402
|
|
|
||||
|
|
Restricted cash
|
68,165
|
|
|
51,467
|
|
|
||||
|
|
Marketable securities
|
24,775
|
|
|
25,573
|
|
|
||||
|
|
Receivables, net of allowance for doubtful accounts of $15,252 and $16,756
|
219,241
|
|
|
178,216
|
|
|
||||
|
|
Deferred charges and prepaid expenses, net
|
131,175
|
|
|
122,787
|
|
|
||||
|
|
Other assets
|
56,744
|
|
|
40,315
|
|
|
||||
|
Total assets
|
$
|
9,297,074
|
|
|
$
|
9,319,685
|
|
|
|||
|
|
|
|
|
|
|
|
|
||||
|
Liabilities
|
|
|
|
|
|||||||
|
|
Debt obligations, net
|
$
|
5,819,948
|
|
|
$
|
5,838,889
|
|
|
||
|
|
Accounts payable, accrued expenses and other liabilities
|
561,378
|
|
|
553,636
|
|
|
||||
|
Total liabilities
|
6,381,326
|
|
|
6,392,525
|
|
|
|||||
|
|
|
|
|
|
|
|
|
||||
|
Equity
|
|
|
|
|
|||||||
|
|
Common stock, $0.01 par value; authorized 3,000,000,000 shares;
|
|
|
|
|
||||||
|
|
|
304,935,735 and 304,343,141 shares outstanding
|
3,049
|
|
|
3,043
|
|
|
|||
|
|
Additional paid in capital
|
3,330,885
|
|
|
3,324,874
|
|
|
||||
|
|
Accumulated other comprehensive income
|
21,027
|
|
|
21,519
|
|
|
||||
|
|
Distributions in excess of net income
|
(439,213
|
)
|
|
(426,552
|
)
|
|
||||
|
Total stockholders' equity
|
2,915,748
|
|
|
2,922,884
|
|
|
|||||
|
|
Non-controlling interests
|
—
|
|
|
4,276
|
|
|
||||
|
Total equity
|
2,915,748
|
|
|
2,927,160
|
|
|
|||||
|
Total liabilities and equity
|
$
|
9,297,074
|
|
|
$
|
9,319,685
|
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
5
|
|
CONSOLIDATED STATEMENTS OF OPERATIONS
|
|
|
|
|
|||||||||||||||
Unaudited, dollars in thousands, except per share amounts
|
|
|
|
|
|
|
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
Three Months Ended
|
|
Six Months Ended
|
||||||||||||
|
|
|
|
|
6/30/17
|
|
6/30/16
|
|
6/30/17
|
|
6/30/16
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Revenues
|
|
|
|
|
|
|
|
|||||||||||
|
|
Rental income
|
$
|
253,777
|
|
|
$
|
245,575
|
|
|
$
|
503,398
|
|
|
$
|
496,721
|
|
||
|
|
Expense reimbursements
|
67,039
|
|
|
61,763
|
|
|
140,229
|
|
|
131,475
|
|
||||||
|
|
Other revenues
|
2,002
|
|
|
2,719
|
|
|
4,997
|
|
|
4,965
|
|
||||||
|
Total revenues
|
322,818
|
|
|
310,057
|
|
|
648,624
|
|
|
633,161
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Operating expenses
|
|
|
|
|
|
|
|
|||||||||||
|
|
Operating costs
|
33,025
|
|
|
31,415
|
|
|
70,450
|
|
|
66,466
|
|
||||||
|
|
Real estate taxes
|
44,064
|
|
|
38,683
|
|
|
90,531
|
|
|
83,074
|
|
||||||
|
|
Depreciation and amortization
|
96,870
|
|
|
95,818
|
|
|
190,801
|
|
|
196,297
|
|
||||||
|
|
Provision for doubtful accounts
|
1,757
|
|
|
1,621
|
|
|
2,807
|
|
|
4,361
|
|
||||||
|
|
Impairment of real estate assets
|
10,632
|
|
|
—
|
|
|
16,318
|
|
|
—
|
|
||||||
|
|
General and administrative
|
23,248
|
|
|
27,198
|
|
|
44,205
|
|
|
47,922
|
|
||||||
|
Total operating expenses
|
209,596
|
|
|
194,735
|
|
|
415,112
|
|
|
398,120
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Other income (expense)
|
|
|
|
|
|
|
|
|||||||||||
|
|
Dividends and interest
|
85
|
|
|
319
|
|
|
158
|
|
|
392
|
|
||||||
|
|
Interest expense
|
(57,443
|
)
|
|
(56,184
|
)
|
|
(113,174
|
)
|
|
(113,627
|
)
|
||||||
|
|
Gain on sale of real estate assets
|
20,173
|
|
|
7,782
|
|
|
28,978
|
|
|
7,782
|
|
||||||
|
|
Gain (loss) on extinguishment of debt, net
|
(78
|
)
|
|
93
|
|
|
(1,340
|
)
|
|
93
|
|
||||||
|
|
Other
|
(684
|
)
|
|
(1,981
|
)
|
|
(1,391
|
)
|
|
(2,888
|
)
|
||||||
|
Total other expense
|
(37,947
|
)
|
|
(49,971
|
)
|
|
(86,769
|
)
|
|
(108,248
|
)
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Income before equity in income of unconsolidated joint venture
|
75,275
|
|
|
65,351
|
|
|
146,743
|
|
|
126,793
|
|
|||||||
|
Equity in income of unconsolidated joint venture
|
163
|
|
|
119
|
|
|
350
|
|
|
226
|
|
|||||||
|
Net income
|
75,438
|
|
|
65,470
|
|
|
147,093
|
|
|
127,019
|
|
|||||||
|
Net income attributable to non-controlling interests
|
—
|
|
|
(1,014
|
)
|
|
(76
|
)
|
|
(2,086
|
)
|
|||||||
|
Net income attributable to Brixmor Property Group Inc.
|
75,438
|
|
|
64,456
|
|
|
147,017
|
|
|
124,933
|
|
|||||||
|
Preferred stock dividends
|
(39
|
)
|
|
—
|
|
|
(39
|
)
|
|
—
|
|
|||||||
|
Net income attributable to common stockholders
|
$
|
75,399
|
|
|
$
|
64,456
|
|
|
$
|
146,978
|
|
|
$
|
124,933
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Per common share:
|
|
|
|
|
|
|
|
|||||||||||
|
|
Net income attributable to common stockholders:
|
|
|
|
|
|
|
|
||||||||||
|
|
|
Basic
|
$
|
0.25
|
|
|
$
|
0.21
|
|
|
$
|
0.48
|
|
|
$
|
0.42
|
|
|
|
|
|
Diluted
|
$
|
0.25
|
|
|
$
|
0.21
|
|
|
$
|
0.48
|
|
|
$
|
0.42
|
|
|
|
|
Weighted average shares:
|
|
|
|
|
|
|
|
||||||||||
|
|
|
Basic
|
304,914
|
|
|
299,872
|
|
|
304,743
|
|
|
299,526
|
|
|||||
|
|
|
Diluted
|
305,115
|
|
|
300,204
|
|
|
305,125
|
|
|
304,861
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
6
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
7
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
8
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
9
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
10
|
|
SAME PROPERTY NOI ANALYSIS
|
|
|
|
|
|
|
||||||||||||||||||
Unaudited, dollars in thousands
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
Three Months Ended
|
|
|
|
Six Months Ended
|
|
|
||||||||||||
|
|
|
|
|
|
6/30/17
|
|
6/30/16
|
|
Change
|
|
6/30/17
|
|
6/30/16
|
|
Change
|
||||||||
|
Same Property NOI Analysis (1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Number of properties
|
|
504
|
|
|
504
|
|
|
—
|
|
504
|
|
|
504
|
|
|
—
|
|||||||
|
Percent billed
|
|
89.9
|
%
|
|
90.5
|
%
|
|
(0.6%)
|
|
89.9
|
%
|
|
90.5
|
%
|
|
(0.6%)
|
|||||||
|
Percent leased
|
|
92.0
|
%
|
|
92.7
|
%
|
|
(0.7%)
|
|
92.0
|
%
|
|
92.7
|
%
|
|
(0.7%)
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
|
Base rent
|
|
$
|
229,811
|
|
|
$
|
224,172
|
|
|
|
|
$
|
458,903
|
|
|
$
|
447,865
|
|
|
|
||
|
|
Ancillary and other
|
|
3,889
|
|
|
3,910
|
|
|
|
|
7,505
|
|
|
7,662
|
|
|
|
||||||
|
|
Expense reimbursements
|
|
65,848
|
|
|
60,684
|
|
|
|
|
137,927
|
|
|
129,254
|
|
|
|
||||||
|
|
Percentage rents
|
|
1,958
|
|
|
2,310
|
|
|
|
|
4,854
|
|
|
4,246
|
|
|
|
||||||
|
|
|
|
|
|
301,506
|
|
|
291,076
|
|
|
3.6%
|
|
609,189
|
|
|
589,027
|
|
|
3.4%
|
||||
|
Operating expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
|
Operating costs
|
|
(32,158
|
)
|
|
(30,131
|
)
|
|
|
|
(69,113
|
)
|
|
(64,644
|
)
|
|
|
||||||
|
|
Real estate taxes
|
|
(43,273
|
)
|
|
(37,977
|
)
|
|
|
|
(88,954
|
)
|
|
(81,652
|
)
|
|
|
||||||
|
|
Provision for doubtful accounts
|
|
(1,751
|
)
|
|
(1,587
|
)
|
|
|
|
(2,721
|
)
|
|
(4,268
|
)
|
|
|
||||||
|
|
|
|
|
|
(77,182
|
)
|
|
(69,695
|
)
|
|
10.7%
|
|
(160,788
|
)
|
|
(150,564
|
)
|
|
6.8%
|
||||
|
Same property NOI
|
|
$
|
224,324
|
|
|
$
|
221,381
|
|
|
1.3%
|
|
$
|
448,401
|
|
|
$
|
438,463
|
|
|
2.3%
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Same property NOI excluding redevelopments (2)
|
|
$
|
211,981
|
|
|
$
|
209,635
|
|
|
1.1%
|
|
$
|
423,590
|
|
|
$
|
414,778
|
|
|
2.1%
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
NOI margin
|
|
74.4
|
%
|
|
76.1
|
%
|
|
|
|
73.6
|
%
|
|
74.4
|
%
|
|
|
|||||||
|
Expense recovery ratio
|
|
87.3
|
%
|
|
89.1
|
%
|
|
|
|
87.3
|
%
|
|
88.4
|
%
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Percent contribution to same property NOI growth:
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
|
|
|
|
|
Change
|
|
Percent Contribution
|
|
|
|
Change
|
|
Percent Contribution
|
|
|
||||||||
|
|
Base rent
|
|
$
|
5,639
|
|
|
2.6%
|
|
|
|
$
|
11,038
|
|
|
2.5%
|
|
|
||||||
|
|
Ancillary and other
|
|
(21
|
)
|
|
0.0%
|
|
|
|
(157
|
)
|
|
0.0%
|
|
|
||||||||
|
|
Net recoveries
|
|
(2,159
|
)
|
|
(1.0%)
|
|
|
|
(3,098
|
)
|
|
(0.7%)
|
|
|
||||||||
|
|
Percentage rents
|
|
(352
|
)
|
|
(0.2%)
|
|
|
|
608
|
|
|
0.1%
|
|
|
||||||||
|
|
Provision for doubtful accounts
|
|
(164
|
)
|
|
(0.1%)
|
|
|
|
1,547
|
|
|
0.4%
|
|
|
||||||||
|
|
|
|
|
|
|
|
1.3%
|
|
|
|
|
|
2.3%
|
|
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Reconciliation of Net Income Attributable to Common Stockholders to Same Property NOI
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
Same property NOI (1)
|
|
$
|
224,324
|
|
|
$
|
221,381
|
|
|
|
|
$
|
448,401
|
|
|
$
|
438,463
|
|
|
|
|||
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
|
Non-same property NOI
|
|
3,402
|
|
|
4,419
|
|
|
|
|
6,989
|
|
|
8,882
|
|
|
|
||||||
|
|
Lease termination fees
|
|
2,575
|
|
|
766
|
|
|
|
|
3,241
|
|
|
6,363
|
|
|
|
||||||
|
|
Straight-line rental income, net
|
|
6,835
|
|
|
3,659
|
|
|
|
|
12,085
|
|
|
6,519
|
|
|
|
||||||
|
|
Amortization of above- and below-market rent and tenant inducements, net
|
|
7,016
|
|
|
8,857
|
|
|
|
|
14,470
|
|
|
19,661
|
|
|
|
||||||
|
|
Fee income
|
|
56
|
|
|
343
|
|
|
|
|
137
|
|
|
638
|
|
|
|
||||||
|
|
Straight-line ground rent expense
|
|
(32
|
)
|
|
(901
|
)
|
|
|
|
(73
|
)
|
|
(897
|
)
|
|
|
||||||
|
|
Depreciation and amortization
|
|
(96,870
|
)
|
|
(95,818
|
)
|
|
|
|
(190,801
|
)
|
|
(196,297
|
)
|
|
|
||||||
|
|
Impairment of real estate assets
|
|
(10,632
|
)
|
|
—
|
|
|
|
|
(16,318
|
)
|
|
—
|
|
|
|
||||||
|
|
General and administrative
|
|
(23,248
|
)
|
|
(27,198
|
)
|
|
|
|
(44,205
|
)
|
|
(47,922
|
)
|
|
|
||||||
|
|
Total other expense
|
|
(37,947
|
)
|
|
(49,971
|
)
|
|
|
|
(86,769
|
)
|
|
(108,248
|
)
|
|
|
||||||
|
|
Pro rata share of same property NOI of unconsolidated joint venture
|
|
(204
|
)
|
|
(186
|
)
|
|
|
|
(414
|
)
|
|
(369
|
)
|
|
|
||||||
|
|
Equity in income of unconsolidated joint venture
|
|
163
|
|
|
119
|
|
|
|
|
350
|
|
|
226
|
|
|
|
||||||
|
|
Net income attributable to non-controlling interests
|
|
—
|
|
|
(1,014
|
)
|
|
|
|
(76
|
)
|
|
(2,086
|
)
|
|
|
||||||
|
|
Preferred stock dividends
|
|
(39
|
)
|
|
—
|
|
|
|
|
(39
|
)
|
|
—
|
|
|
|
||||||
|
Net income attributable to common stockholders
|
|
$
|
75,399
|
|
|
$
|
64,456
|
|
|
|
|
$
|
146,978
|
|
|
$
|
124,933
|
|
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
(1) Includes unconsolidated joint venture, Montecito Marketplace, at pro rata share.
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
(2) Redevelopments include only completed and in process projects.
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
11
|
|
CAPITAL EXPENDITURES
|
|
|
|||||||||
Unaudited, dollars in thousands
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
Three Months Ended
|
|
Six Months Ended
|
||||
|
|
|
|
|
6/30/17
|
|
6/30/17
|
||||
|
|
|
|
|
|
|
|
||||
|
Leasing related:
|
|
|
|
|||||||
|
|
Tenant improvements and tenant inducements
|
$
|
15,308
|
|
|
$
|
36,791
|
|
||
|
|
External leasing commissions
|
2,067
|
|
|
4,034
|
|
||||
|
|
|
|
|
17,375
|
|
|
40,825
|
|
||
|
|
|
|
|
|
|
|
||||
|
Value-enhancing:
|
|
|
|
|||||||
|
|
Anchor space repositionings
|
4,666
|
|
|
8,584
|
|
||||
|
|
Outparcel developments
|
1,116
|
|
|
2,775
|
|
||||
|
|
Redevelopments
|
10,442
|
|
|
22,651
|
|
||||
|
|
New development
|
1,644
|
|
|
2,511
|
|
||||
|
|
|
|
|
17,868
|
|
|
36,521
|
|
||
|
|
|
|
|
|
|
|
||||
|
Maintenance capital expenditures
|
3,707
|
|
|
6,285
|
|
|||||
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
$
|
38,950
|
|
|
$
|
83,631
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
||||
Includes unconsolidated joint venture, Montecito Marketplace, at pro rata share.
|
|
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
12
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
13
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
14
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
15
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
16
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
INVESTMENT SUMMARY
|
||||||||||||||
|
|||||||||||||||
|
|||||||||||||||
|
|||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosure
Three Months Ended June 30, 2017
|
|
||||||||||||
|
|
|
|||||||||||||
|
|
|
|||||||||||||
|
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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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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ACQUISITIONS
|
||||||||||||||||||||||
Dollars in thousands, except ABR PSF
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Property Name
|
|
MSA
|
|
Purchase Date
|
|
Purchase Price
|
|
GLA / Acres
|
|
Percent Leased
|
|
ABR
PSF
|
|
Major Tenants
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Three Months Ended 3/31/17
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Outparcel building adjacent to Annex of Arlington
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
2/9/17
|
|
$
|
1,000
|
|
|
5,760
|
|
|
100.0%
|
|
$
|
32.83
|
|
|
—
|
|
|
|
Outparcel adjacent to Northeast Plaza
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
2/28/17
|
|
1,500
|
|
|
2.11 acres
|
|
|
—
|
|
—
|
|
|
—
|
|
|
||
|
Arborland Center
|
|
Ann Arbor, MI
|
|
3/1/17
|
|
102,000
|
|
|
403,536
|
|
|
96.4%
|
|
16.18
|
|
|
Kroger, Nordstrom Rack, Marshalls, Ulta, DSW, Starbucks
|
|
|
||
|
|
|
|
|
|
|
$
|
104,500
|
|
|
409,296
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
/ 2.11 acres
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Three Months Ended 6/30/17
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Building adjacent to Preston Park
|
|
Dallas-Fort Worth-Arlington, TX
|
|
4/28/17
|
|
$
|
3,980
|
|
|
31,080
|
|
|
100.0%
|
|
$
|
7.72
|
|
|
Infinite Bounds
|
|
|
|
Outparcel building adjacent to Cobblestone
Village |
|
Jacksonville, FL
|
|
5/11/17
|
|
1,300
|
|
|
4,403
|
|
|
100.0%
|
|
22.46
|
|
|
Black Molly Grill
|
|
|
||
|
Outparcel adjacent to Wynnewood Village
|
|
Dallas-Fort Worth-Arlington, TX
|
|
5/12/17
|
|
1,600
|
|
|
1.38 acres
|
|
|
—
|
|
—
|
|
|
—
|
|
|
||
|
|
|
|
|
|
|
$
|
6,880
|
|
|
35,483
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
/ 1.38 acres
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
|
TOTAL - SIX MONTHS ENDED 6/30/17
|
|
|
$
|
111,380
|
|
|
444,779
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
|
|
|
/ 3.49 acres
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
18
|
|
DISPOSITIONS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Dollars in thousands, except ABR PSF
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Property Name
|
|
MSA
|
|
|
Sale Date
|
|
Sale Price
|
|
GLA / Acres
|
|
Percent Leased
|
|
ABR PSF
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Three Months Ended 3/31/17 (1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Killingly Plaza
|
|
Worcester, MA-CT
|
|
2/27/17
|
|
$
|
6,700
|
|
|
76,960
|
|
|
98.7
|
%
|
|
$
|
8.02
|
|
|
|
|
North Park
|
|
Macon, GA
|
|
3/31/17
|
|
17,200
|
|
|
216,795
|
|
|
98.8
|
%
|
|
6.40
|
|
|
|||
|
Perry Marketplace
|
|
Warner Robins, GA
|
|
3/31/17
|
|
11,565
|
|
|
179,973
|
|
|
78.4
|
%
|
|
7.11
|
|
|
|||
|
|
|
|
|
|
|
|
$
|
35,465
|
|
|
473,728
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Three Months Ended 6/30/17
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Walmart Supercenter at Liberty Plaza
|
|
Baltimore-Columbia-Towson, MD
|
|
5/17/17
|
|
28,525
|
|
|
160,908
|
|
|
100.0%
|
|
|
$
|
10.63
|
|
|
||
|
Eustis Village
|
|
Orlando-Kissimmee-Sanford, FL
|
|
5/19/17
|
|
23,500
|
|
|
156,927
|
|
|
96.9%
|
|
|
11.47
|
|
|
|||
|
Walmart at Market Centre
|
|
Elkhart-Goshen, IN
|
|
6/14/17
|
|
1,950
|
|
|
116,215
|
|
|
100.0%
|
|
|
3.66
|
|
|
|||
|
Fitchburg Ridge Shopping Center
|
|
Madison, WI
|
|
6/21/17
|
|
5,750
|
|
|
50,555
|
|
|
83.6%
|
|
|
12.08
|
|
|
|||
|
McKinley Plaza
|
|
Buffalo-Cheektowaga-Niagara Falls, NY
|
|
6/29/17
|
|
15,750
|
|
|
95,544
|
|
|
97.9%
|
|
|
15.13
|
|
|
|||
|
|
|
|
|
|
|
|
$
|
75,475
|
|
|
580,149
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
|
TOTAL - SIX MONTHS ENDED 6/30/17
|
|
|
$
|
110,940
|
|
|
1,053,877
|
|
|
|
|
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
19
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
20
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
21
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
22
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
23
|
|
|
30
|
|
Jester Village
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
Redevelopment of existing anchor space for multiple retailers, densification of site, enhancement of common areas
|
|
|
31
|
|
Texas City Bay
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
Redevelopment of existing anchor space for multiple retailers, densification of site
|
|
|
32
|
|
The Centre at Navarro
|
|
Victoria, TX
|
|
Redevelopment of existing anchor space for multiple retailers, densification of site, enhancement of common areas
|
|
|
33
|
|
Hanover Square
|
|
Richmond, VA
|
|
Redevelopment of existing anchor space, outparcel development including multi-tenant retail building
|
|
|
|
|
|
|
|
|
|
|
(1) Indicates project added to pipeline during the three months ended June 30, 2017.
|
|
|
||||||
|
|
|
|
|
|
|
|
|
The Company has identified potential future reinvestment opportunities at the properties listed above. Many of these opportunities are, or will soon be, in preliminary planning phases and as such, may not ultimately become active reinvestments. Proceeding
|
||||||||
with these reinvestments could be subject to factors outside of the Company’s control which could delay, suspend or defer the expected opportunity or timing of execution. While the Company expects that these projects are likely to become active
|
||||||||
in the near-term, it should be noted that this list will fluctuate as projects become active, suspended or otherwise rescheduled. For more information, please refer to the “Risk Factors” section of the Company’s Annual Report on Form 10-K
|
||||||||
for the year ended December 31, 2016.
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
24
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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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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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PORTFOLIO SUMMARY
|
|||||||||||||
|
||||||||||||||
|
||||||||||||||
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosure
Three Months Ended June 30, 2017
|
||||||||||||
|
|
|||||||||||||
|
|
|||||||||||||
|
|
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
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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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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
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|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Includes unconsolidated joint venture, Montecito Marketplace, at 100%.
|
|
|||||||||||
|
|
Individual values herein may not add up to totals due to rounding.
|
|
PORTFOLIO OVERVIEW
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Dollars in thousands, except per square foot amounts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
|
|
|
|
As of:
|
|
|
|
|
|||||||||||||||||||||
|
|
|
|
|
6/30/17
|
|
3/31/17
|
|
12/31/16
|
|
9/30/16
|
|
6/30/16
|
|
|
|
|
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Number of properties
|
|
|
507
|
|
|
510
|
|
|
512
|
|
|
514
|
|
|
516
|
|
|
|
|
|
|||||||||
|
GLA
|
|
|
85,460,362
|
|
|
85,961,594
|
|
|
86,006,794
|
|
|
86,295,214
|
|
|
86,446,148
|
|
|
|
|
|
|||||||||
|
Percent billed
|
|
|
89.9
|
%
|
|
90.4
|
%
|
|
90.7
|
%
|
|
90.6
|
%
|
|
90.6
|
%
|
|
|
|
|
|||||||||
|
Percent leased
|
|
|
92.0
|
%
|
|
92.5
|
%
|
|
92.8
|
%
|
|
92.6
|
%
|
|
92.8
|
%
|
|
|
|
|
|||||||||
|
|
TOTAL ≥ 10,000 SF
|
|
|
95.0
|
%
|
|
95.8
|
%
|
|
96.1
|
%
|
|
95.8
|
%
|
|
96.4
|
%
|
|
|
|
|
||||||||
|
|
TOTAL < 10,000 SF
|
|
|
85.0
|
%
|
|
84.8
|
%
|
|
85.1
|
%
|
|
85.0
|
%
|
|
84.2
|
%
|
|
|
|
|
||||||||
|
ABR
|
|
|
|
$
|
959,800
|
|
|
$
|
965,273
|
|
|
$
|
959,983
|
|
|
$
|
953,696
|
|
|
$
|
952,653
|
|
|
|
|
|
|||
|
ABR PSF
|
|
|
$
|
13.21
|
|
|
$
|
13.12
|
|
|
$
|
12.99
|
|
|
$
|
12.90
|
|
|
$
|
12.85
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
PORTFOLIO BY UNIT SIZE AS OF 6/30/17
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
|
Number of
Units
|
|
GLA
|
|
Percent Billed
|
|
Percent Leased
|
|
Percent of Vacant GLA
|
|
ABR
|
|
ABR PSF
|
|
|
|||||||||||||
|
|
≥ 35,000 SF
|
571
|
|
|
35,165,153
|
|
|
95.4
|
%
|
|
96.6
|
%
|
|
17.7
|
%
|
|
$
|
272,077
|
|
|
$
|
9.36
|
|
|
|
||||
|
|
20,000 – 34,999 SF
|
558
|
|
|
14,685,751
|
|
|
90.7
|
%
|
|
94.2
|
%
|
|
12.6
|
%
|
|
138,006
|
|
|
10.12
|
|
|
|
||||||
|
|
10,000 - 19,999 SF
|
747
|
|
|
10,190,577
|
|
|
89.2
|
%
|
|
90.9
|
%
|
|
13.6
|
%
|
|
118,047
|
|
|
13.06
|
|
|
|
||||||
|
|
5,000 - 9,999 SF
|
1,364
|
|
|
9,399,765
|
|
|
83.5
|
%
|
|
86.2
|
%
|
|
19.1
|
%
|
|
129,165
|
|
|
16.63
|
|
|
|
||||||
|
|
< 5,000 SF
|
7,687
|
|
|
16,019,116
|
|
|
81.6
|
%
|
|
84.3
|
%
|
|
37.0
|
%
|
|
302,505
|
|
|
23.02
|
|
|
|
||||||
|
|
TOTAL
|
10,927
|
|
|
85,460,362
|
|
|
89.9
|
%
|
|
92.0
|
%
|
|
100.0
|
%
|
|
$
|
959,800
|
|
|
$
|
13.21
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
|
TOTAL ≥ 10,000 SF
|
1,876
|
|
|
60,041,481
|
|
|
93.2
|
%
|
|
95.0
|
%
|
|
43.9
|
%
|
|
$
|
528,130
|
|
|
$
|
10.21
|
|
|
|
||||
|
|
TOTAL < 10,000 SF
|
9,051
|
|
|
25,418,881
|
|
|
82.3
|
%
|
|
85.0
|
%
|
|
56.1
|
%
|
|
431,670
|
|
|
20.65
|
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
26
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
27
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
28
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
29
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
30
|
|
PROPERTIES BY LARGEST US MSAs
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Dollars in thousands, except per square foot amounts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Percent of
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
Number of
|
|
|
|
Percent
|
|
Percent
|
|
|
|
|
|
Number of
|
|
Percent
|
|
Percent
|
|
||||||||||||
|
|
Largest US MSAs by 2016 Population
|
|
|
|
Properties
|
|
GLA
|
|
Billed
|
|
Leased
|
|
ABR
|
|
ABR PSF
|
|
Properties
|
|
of GLA
|
|
of ABR
|
|
||||||||||||
|
1
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
|
|
30
|
|
|
3,640,545
|
|
|
90.7
|
%
|
|
91.7
|
%
|
|
$
|
64,977
|
|
|
$
|
19.64
|
|
|
5.9
|
%
|
|
4.3
|
%
|
|
6.8
|
%
|
|
|
2
|
|
Los Angeles-Long Beach-Anaheim, CA
|
|
|
|
9
|
|
|
1,684,984
|
|
|
95.1
|
%
|
|
97.5
|
%
|
|
29,473
|
|
|
19.72
|
|
|
1.8
|
%
|
|
2.0
|
%
|
|
3.1
|
%
|
|
||
|
3
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
|
|
16
|
|
|
4,027,053
|
|
|
83.1
|
%
|
|
85.8
|
%
|
|
44,370
|
|
|
13.52
|
|
|
3.2
|
%
|
|
4.7
|
%
|
|
4.6
|
%
|
|
||
|
4
|
|
Dallas-Fort Worth-Arlington, TX
|
|
|
|
16
|
|
|
3,119,970
|
|
|
89.2
|
%
|
|
91.0
|
%
|
|
43,484
|
|
|
15.49
|
|
|
3.2
|
%
|
|
3.7
|
%
|
|
4.5
|
%
|
|
||
|
5
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
|
|
36
|
|
|
4,528,585
|
|
|
89.6
|
%
|
|
90.9
|
%
|
|
47,214
|
|
|
12.00
|
|
|
7.1
|
%
|
|
5.3
|
%
|
|
4.9
|
%
|
|
||
|
6
|
|
Washington-Arlington-Alexandria, DC-VA-MD-WV
|
|
|
3
|
|
|
451,260
|
|
|
96.5
|
%
|
|
98.6
|
%
|
|
4,928
|
|
|
11.08
|
|
|
0.6
|
%
|
|
0.5
|
%
|
|
0.5
|
%
|
|
|||
|
7
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
|
|
27
|
|
|
4,276,965
|
|
|
93.2
|
%
|
|
95.3
|
%
|
|
56,869
|
|
|
15.91
|
|
|
5.3
|
%
|
|
5.0
|
%
|
|
5.9
|
%
|
|
|||
|
8
|
|
Miami-Fort Lauderdale-West Palm Beach, FL
|
|
|
|
9
|
|
|
1,489,439
|
|
|
86.5
|
%
|
|
88.5
|
%
|
|
17,925
|
|
|
14.18
|
|
|
1.8
|
%
|
|
1.7
|
%
|
|
1.9
|
%
|
|
||
|
9
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
|
|
25
|
|
|
3,666,065
|
|
|
90.5
|
%
|
|
93.0
|
%
|
|
37,029
|
|
|
11.17
|
|
|
4.9
|
%
|
|
4.3
|
%
|
|
3.9
|
%
|
|
||
|
10
|
|
Boston-Cambridge-Newton, MA-NH
|
|
|
|
6
|
|
|
707,909
|
|
|
88.8
|
%
|
|
96.9
|
%
|
|
8,573
|
|
|
12.56
|
|
|
1.2
|
%
|
|
0.8
|
%
|
|
0.9
|
%
|
|
||
|
|
Top 10 Largest US MSAs by Population
|
|
|
|
177
|
|
|
27,592,775
|
|
|
89.7
|
%
|
|
91.8
|
%
|
|
354,842
|
|
|
14.72
|
|
|
35.0
|
%
|
|
32.3
|
%
|
|
37.0
|
%
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
11
|
|
San Francisco-Oakland-Hayward, CA
|
|
|
|
2
|
|
|
506,576
|
|
|
88.1
|
%
|
|
97.2
|
%
|
|
9,862
|
|
|
24.90
|
|
|
0.4
|
%
|
|
0.6
|
%
|
|
1.0
|
%
|
|
||
|
12
|
|
Phoenix-Mesa-Scottsdale, AZ
|
|
|
|
1
|
|
|
119,525
|
|
|
70.3
|
%
|
|
83.1
|
%
|
|
1,261
|
|
|
12.70
|
|
|
0.2
|
%
|
|
0.1
|
%
|
|
0.1
|
%
|
|
||
|
13
|
|
Riverside-San Bernardino-Ontario, CA
|
|
|
|
4
|
|
|
537,088
|
|
|
95.9
|
%
|
|
97.3
|
%
|
|
7,259
|
|
|
15.50
|
|
|
0.8
|
%
|
|
0.6
|
%
|
|
0.8
|
%
|
|
||
|
14
|
|
Detroit-Warren-Dearborn, MI
|
|
|
|
9
|
|
|
1,616,581
|
|
|
83.1
|
%
|
|
85.7
|
%
|
|
16,047
|
|
|
12.55
|
|
|
1.8
|
%
|
|
1.9
|
%
|
|
1.7
|
%
|
|
||
|
15
|
|
Seattle-Tacoma-Bellevue, WA
|
|
|
|
0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
||
|
16
|
|
Minneapolis-St. Paul-Bloomington, MN-WI
|
|
|
|
8
|
|
|
1,179,651
|
|
|
90.0
|
%
|
|
90.0
|
%
|
|
13,241
|
|
|
13.29
|
|
|
1.6
|
%
|
|
1.4
|
%
|
|
1.4
|
%
|
|
||
|
17
|
|
San Diego-Carlsbad, CA
|
|
|
|
3
|
|
|
633,896
|
|
|
85.6
|
%
|
|
96.0
|
%
|
|
12,593
|
|
|
21.24
|
|
|
0.6
|
%
|
|
0.7
|
%
|
|
1.3
|
%
|
|
||
|
18
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
|
|
15
|
|
|
2,406,080
|
|
|
91.2
|
%
|
|
91.7
|
%
|
|
28,177
|
|
|
13.88
|
|
|
3.0
|
%
|
|
2.8
|
%
|
|
2.9
|
%
|
|
||
|
19
|
|
Denver-Aurora-Lakewood, CO
|
|
|
|
5
|
|
|
1,191,743
|
|
|
82.1
|
%
|
|
88.4
|
%
|
|
14,142
|
|
|
13.51
|
|
|
1.0
|
%
|
|
1.4
|
%
|
|
1.5
|
%
|
|
||
|
20
|
|
St. Louis, MO-IL
|
|
|
|
4
|
|
|
660,746
|
|
|
85.2
|
%
|
|
87.5
|
%
|
|
5,233
|
|
|
9.15
|
|
|
0.8
|
%
|
|
0.8
|
%
|
|
0.5
|
%
|
|
||
|
|
Top 20 Largest US MSAs by Population
|
|
|
|
228
|
|
|
36,444,661
|
|
|
89.1
|
%
|
|
91.5
|
%
|
|
462,657
|
|
|
14.65
|
|
|
45.2
|
%
|
|
42.6
|
%
|
|
48.2
|
%
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
21
|
|
Baltimore-Columbia-Towson, MD
|
|
|
|
1
|
|
|
57,954
|
|
|
100.0
|
%
|
|
100.0
|
%
|
|
951
|
|
|
16.41
|
|
|
0.2
|
%
|
|
0.1
|
%
|
|
0.1
|
%
|
|
||
|
22
|
|
Charlotte-Concord-Gastonia, NC-SC
|
|
|
|
6
|
|
|
1,713,070
|
|
|
87.5
|
%
|
|
92.1
|
%
|
|
14,618
|
|
|
10.13
|
|
|
1.2
|
%
|
|
2.0
|
%
|
|
1.5
|
%
|
|
||
|
23
|
|
Orlando-Kissimmee-Sanford, FL
|
|
|
|
5
|
|
|
808,229
|
|
|
94.0
|
%
|
|
94.4
|
%
|
|
14,356
|
|
|
19.12
|
|
|
1.0
|
%
|
|
0.9
|
%
|
|
1.5
|
%
|
|
||
|
24
|
|
San Antonio-New Braunfels, TX
|
|
|
|
0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
||
|
25
|
|
Portland-Vancouver-Hillsboro, OR-WA
|
|
|
|
0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
||
|
26
|
|
Pittsburgh, PA
|
|
|
|
1
|
|
|
199,079
|
|
|
100.0
|
%
|
|
100.0
|
%
|
|
1,932
|
|
|
10.76
|
|
|
0.2
|
%
|
|
0.2
|
%
|
|
0.2
|
%
|
|
||
|
27
|
|
Sacramento--Roseville--Arden-Arcade, CA
|
|
|
|
1
|
|
|
103,695
|
|
|
93.5
|
%
|
|
94.7
|
%
|
|
1,929
|
|
|
19.65
|
|
|
0.2
|
%
|
|
0.1
|
%
|
|
0.2
|
%
|
|
||
|
28
|
|
Cincinnati, OH-KY-IN
|
|
|
|
7
|
|
|
1,930,720
|
|
|
93.5
|
%
|
|
95.2
|
%
|
|
21,093
|
|
|
14.50
|
|
|
1.4
|
%
|
|
2.3
|
%
|
|
2.2
|
%
|
|
||
|
29
|
|
Las Vegas-Henderson-Paradise, NV
|
|
|
|
3
|
|
|
613,061
|
|
|
94.9
|
%
|
|
94.9
|
%
|
|
8,389
|
|
|
16.35
|
|
|
0.6
|
%
|
|
0.7
|
%
|
|
0.9
|
%
|
|
||
|
30
|
|
Kansas City, MO-KS
|
|
|
|
4
|
|
|
601,926
|
|
|
88.4
|
%
|
|
89.0
|
%
|
|
4,334
|
|
|
8.24
|
|
|
0.8
|
%
|
|
0.7
|
%
|
|
0.5
|
%
|
|
||
|
31
|
|
Austin-Round Rock, TX
|
|
|
|
1
|
|
|
169,552
|
|
|
83.0
|
%
|
|
100.0
|
%
|
|
1,829
|
|
|
10.79
|
|
|
0.2
|
%
|
|
0.2
|
%
|
|
0.2
|
%
|
|
||
|
32
|
|
Cleveland-Elyria, OH
|
|
|
|
6
|
|
|
1,226,488
|
|
|
94.5
|
%
|
|
94.9
|
%
|
|
12,686
|
|
|
10.93
|
|
|
1.2
|
%
|
|
1.4
|
%
|
|
1.3
|
%
|
|
||
|
33
|
|
Columbus, OH
|
|
|
|
4
|
|
|
449,488
|
|
|
85.8
|
%
|
|
87.2
|
%
|
|
3,860
|
|
|
10.36
|
|
|
0.8
|
%
|
|
0.5
|
%
|
|
0.4
|
%
|
|
||
|
34
|
|
Indianapolis-Carmel-Anderson, IN
|
|
|
|
4
|
|
|
875,968
|
|
|
81.2
|
%
|
|
87.3
|
%
|
|
6,909
|
|
|
9.07
|
|
|
0.8
|
%
|
|
1.0
|
%
|
|
0.7
|
%
|
|
||
|
35
|
|
San Jose-Sunnyvale-Santa Clara, CA
|
|
|
|
0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
||
|
36
|
|
Nashville-Davidson--Murfreesboro--Franklin, TN
|
|
|
|
7
|
|
|
1,279,571
|
|
|
94.1
|
%
|
|
94.7
|
%
|
|
13,357
|
|
|
11.08
|
|
|
1.4
|
%
|
|
1.5
|
%
|
|
1.4
|
%
|
|
||
|
37
|
|
Virginia Beach-Norfolk-Newport News, VA-NC
|
|
|
|
2
|
|
|
205,245
|
|
|
97.1
|
%
|
|
100.0
|
%
|
|
3,416
|
|
|
16.76
|
|
|
0.4
|
%
|
|
0.2
|
%
|
|
0.4
|
%
|
|
||
|
38
|
|
Providence-Warwick, RI-MA
|
|
|
|
1
|
|
|
148,126
|
|
|
80.8
|
%
|
|
83.8
|
%
|
|
1,345
|
|
|
10.83
|
|
|
0.2
|
%
|
|
0.2
|
%
|
|
0.1
|
%
|
|
||
|
39
|
|
Milwaukee-Waukesha-West Allis, WI
|
|
|
|
4
|
|
|
710,327
|
|
|
89.8
|
%
|
|
90.1
|
%
|
|
6,523
|
|
|
10.19
|
|
|
0.8
|
%
|
|
0.8
|
%
|
|
0.7
|
%
|
|
||
|
40
|
|
Jacksonville, FL
|
|
|
|
5
|
|
|
834,493
|
|
|
82.5
|
%
|
|
83.3
|
%
|
|
8,202
|
|
|
12.33
|
|
|
1.0
|
%
|
|
1.0
|
%
|
|
0.9
|
%
|
|
||
|
41
|
|
Oklahoma City, OK
|
|
|
|
0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
||
|
42
|
|
Memphis, TN-MS-AR
|
|
|
|
1
|
|
|
659,193
|
|
|
78.5
|
%
|
|
86.4
|
%
|
|
8,647
|
|
|
15.84
|
|
|
0.2
|
%
|
|
0.8
|
%
|
|
0.9
|
%
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
31
|
|
PROPERTIES BY LARGEST US MSAs
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Dollars in thousands, except per square foot amounts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Percent of
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
Number of
|
|
|
|
Percent
|
|
Percent
|
|
|
|
|
|
Number of
|
|
Percent
|
|
Percent
|
|
||||||||||||
|
|
Largest US MSAs by 2016 Population
|
|
|
|
Properties
|
|
GLA
|
|
Billed
|
|
Leased
|
|
ABR
|
|
ABR PSF
|
|
Properties
|
|
of GLA
|
|
of ABR
|
|
||||||||||||
|
43
|
|
Raleigh, NC
|
|
|
|
2
|
|
|
291,027
|
|
|
71.8
|
%
|
|
92.2
|
%
|
|
3,603
|
|
|
13.55
|
|
|
0.4
|
%
|
|
0.3
|
%
|
|
0.4
|
%
|
|
||
|
44
|
|
Louisville/Jefferson County, KY-IN
|
|
|
|
4
|
|
|
707,728
|
|
|
96.1
|
%
|
|
96.1
|
%
|
|
7,130
|
|
|
10.77
|
|
|
0.8
|
%
|
|
0.8
|
%
|
|
0.7
|
%
|
|
||
|
45
|
|
Richmond, VA
|
|
|
|
2
|
|
|
215,897
|
|
|
71.5
|
%
|
|
96.8
|
%
|
|
2,943
|
|
|
14.08
|
|
|
0.4
|
%
|
|
0.3
|
%
|
|
0.3
|
%
|
|
||
|
46
|
|
New Orleans-Metairie, LA
|
|
|
|
0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
||
|
47
|
|
Hartford-West Hartford-East Hartford, CT
|
|
|
|
4
|
|
|
896,011
|
|
|
94.0
|
%
|
|
95.0
|
%
|
|
11,971
|
|
|
16.76
|
|
|
0.8
|
%
|
|
1.0
|
%
|
|
1.2
|
%
|
|
||
|
48
|
|
Salt Lake City, UT
|
|
|
|
0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
||
|
49
|
|
Birmingham-Hoover, AL
|
|
|
|
0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
||
|
50
|
|
Buffalo-Cheektowaga-Niagara Falls, NY
|
|
|
|
0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
||
|
|
Top 50 Largest US MSAs by Population
|
|
|
|
303
|
|
|
51,141,509
|
|
|
89.3
|
%
|
|
91.8
|
%
|
|
622,680
|
|
|
14.05
|
|
|
59.8
|
%
|
|
59.8
|
%
|
|
64.9
|
%
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
MSAs Ranked 51 - 100 by Population
|
|
|
|
66
|
|
|
11,734,940
|
|
|
90.1
|
%
|
|
92.0
|
%
|
|
120,125
|
|
|
12.31
|
|
|
13.0
|
%
|
|
13.7
|
%
|
|
12.5
|
%
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
Other MSAs
|
|
|
|
138
|
|
|
22,583,913
|
|
|
91.4
|
%
|
|
92.7
|
%
|
|
216,995
|
|
|
11.68
|
|
|
27.2
|
%
|
|
26.4
|
%
|
|
22.6
|
%
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
TOTAL
|
|
|
|
507
|
|
|
85,460,362
|
|
|
89.9
|
%
|
|
92.0
|
%
|
|
$
|
959,800
|
|
|
$
|
13.21
|
|
|
100.0
|
%
|
|
100.0
|
%
|
|
100.0
|
%
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
32
|
|
LARGEST MSAs BY ABR
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Dollars in thousands, except per square foot amounts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Percent of
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
Number of
|
|
|
|
Percent
|
|
Percent
|
|
|
|
|
|
Number of
|
|
Percent
|
|
Percent
|
|
||||||||||||
|
|
Largest MSAs by ABR
|
|
MSA Rank
|
|
Properties
|
|
GLA
|
|
Billed
|
|
Leased
|
|
ABR
|
|
ABR PSF
|
|
Properties
|
|
of GLA
|
|
of ABR
|
|
||||||||||||
|
1
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1
|
|
30
|
|
|
3,640,545
|
|
|
90.7
|
%
|
|
91.7
|
%
|
|
$
|
64,977
|
|
|
$
|
19.64
|
|
|
5.9
|
%
|
|
4.3
|
%
|
|
6.8
|
%
|
|
|
2
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
7
|
|
27
|
|
|
4,276,965
|
|
|
93.2
|
%
|
|
95.3
|
%
|
|
56,869
|
|
|
15.91
|
|
|
5.3
|
%
|
|
5.0
|
%
|
|
5.9
|
%
|
|
|||
|
3
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
5
|
|
36
|
|
|
4,528,585
|
|
|
89.6
|
%
|
|
90.9
|
%
|
|
47,214
|
|
|
12.00
|
|
|
7.1
|
%
|
|
5.3
|
%
|
|
4.9
|
%
|
|
||
|
4
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
3
|
|
16
|
|
|
4,027,053
|
|
|
83.1
|
%
|
|
85.8
|
%
|
|
44,370
|
|
|
13.52
|
|
|
3.2
|
%
|
|
4.7
|
%
|
|
4.6
|
%
|
|
||
|
5
|
|
Dallas-Fort Worth-Arlington, TX
|
|
4
|
|
16
|
|
|
3,119,970
|
|
|
89.2
|
%
|
|
91.0
|
%
|
|
43,484
|
|
|
15.49
|
|
|
3.2
|
%
|
|
3.7
|
%
|
|
4.5
|
%
|
|
||
|
6
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
9
|
|
25
|
|
|
3,666,065
|
|
|
90.5
|
%
|
|
93.0
|
%
|
|
37,029
|
|
|
11.17
|
|
|
4.9
|
%
|
|
4.3
|
%
|
|
3.9
|
%
|
|
||
|
7
|
|
Los Angeles-Long Beach-Anaheim, CA
|
|
2
|
|
9
|
|
|
1,684,984
|
|
|
95.1
|
%
|
|
97.5
|
%
|
|
29,473
|
|
|
19.72
|
|
|
1.8
|
%
|
|
2.0
|
%
|
|
3.1
|
%
|
|
||
|
8
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
18
|
|
15
|
|
|
2,406,080
|
|
|
91.2
|
%
|
|
91.7
|
%
|
|
28,177
|
|
|
13.88
|
|
|
3.0
|
%
|
|
2.8
|
%
|
|
2.9
|
%
|
|
||
|
9
|
|
Cincinnati, OH-KY-IN
|
|
28
|
|
7
|
|
|
1,930,720
|
|
|
93.5
|
%
|
|
95.2
|
%
|
|
21,093
|
|
|
14.50
|
|
|
1.4
|
%
|
|
2.3
|
%
|
|
2.2
|
%
|
|
||
|
10
|
|
Miami-Fort Lauderdale-West Palm Beach, FL
|
|
8
|
|
9
|
|
|
1,489,439
|
|
|
86.5
|
%
|
|
88.5
|
%
|
|
17,925
|
|
|
14.18
|
|
|
1.8
|
%
|
|
1.7
|
%
|
|
1.9
|
%
|
|
||
|
|
10 Largest MSAs by ABR
|
|
—
|
|
190
|
|
|
30,770,406
|
|
|
90.0
|
%
|
|
91.8
|
%
|
|
390,611
|
|
|
14.76
|
|
|
37.6
|
%
|
|
36.1
|
%
|
|
40.7
|
%
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
11
|
|
Detroit-Warren-Dearborn, MI
|
|
14
|
|
9
|
|
|
1,616,581
|
|
|
83.1
|
%
|
|
85.7
|
%
|
|
16,047
|
|
|
12.55
|
|
|
1.8
|
%
|
|
1.9
|
%
|
|
1.7
|
%
|
|
||
|
12
|
|
Charlotte-Concord-Gastonia, NC-SC
|
|
22
|
|
6
|
|
|
1,713,070
|
|
|
87.5
|
%
|
|
92.1
|
%
|
|
14,618
|
|
|
10.13
|
|
|
1.2
|
%
|
|
2.0
|
%
|
|
1.5
|
%
|
|
||
|
13
|
|
Orlando-Kissimmee-Sanford, FL
|
|
23
|
|
5
|
|
|
808,229
|
|
|
94.0
|
%
|
|
94.4
|
%
|
|
14,356
|
|
|
19.12
|
|
|
1.0
|
%
|
|
0.9
|
%
|
|
1.5
|
%
|
|
||
|
14
|
|
Denver-Aurora-Lakewood, CO
|
|
19
|
|
5
|
|
|
1,191,743
|
|
|
82.1
|
%
|
|
88.4
|
%
|
|
14,142
|
|
|
13.51
|
|
|
1.0
|
%
|
|
1.4
|
%
|
|
1.5
|
%
|
|
||
|
15
|
|
Allentown-Bethlehem-Easton, PA-NJ
|
|
69
|
|
5
|
|
|
1,298,479
|
|
|
93.5
|
%
|
|
97.5
|
%
|
|
14,097
|
|
|
13.30
|
|
|
1.0
|
%
|
|
1.5
|
%
|
|
1.5
|
%
|
|
||
|
16
|
|
Nashville-Davidson--Murfreesboro--Franklin, TN
|
|
36
|
|
7
|
|
|
1,279,571
|
|
|
94.1
|
%
|
|
94.7
|
%
|
|
13,357
|
|
|
11.08
|
|
|
1.4
|
%
|
|
1.5
|
%
|
|
1.4
|
%
|
|
||
|
17
|
|
Minneapolis-St. Paul-Bloomington, MN-WI
|
|
16
|
|
8
|
|
|
1,179,651
|
|
|
90.0
|
%
|
|
90.0
|
%
|
|
13,241
|
|
|
13.29
|
|
|
1.6
|
%
|
|
1.4
|
%
|
|
1.4
|
%
|
|
||
|
18
|
|
Cleveland-Elyria, OH
|
|
32
|
|
6
|
|
|
1,226,488
|
|
|
94.5
|
%
|
|
94.9
|
%
|
|
12,686
|
|
|
10.93
|
|
|
1.2
|
%
|
|
1.4
|
%
|
|
1.3
|
%
|
|
||
|
19
|
|
San Diego-Carlsbad, CA
|
|
17
|
|
3
|
|
|
633,896
|
|
|
85.6
|
%
|
|
96.0
|
%
|
|
12,593
|
|
|
21.24
|
|
|
0.6
|
%
|
|
0.7
|
%
|
|
1.3
|
%
|
|
||
|
20
|
|
Hartford-West Hartford-East Hartford, CT
|
|
47
|
|
4
|
|
|
896,011
|
|
|
94.0
|
%
|
|
95.0
|
%
|
|
11,971
|
|
|
16.76
|
|
|
0.8
|
%
|
|
1.0
|
%
|
|
1.2
|
%
|
|
||
|
|
20 Largest MSAs by ABR
|
|
—
|
|
248
|
|
|
42,614,125
|
|
|
89.8
|
%
|
|
91.9
|
%
|
|
527,719
|
|
|
14.37
|
|
|
49.2
|
%
|
|
49.8
|
%
|
|
55.0
|
%
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
21
|
|
Naples-Immokalee-Marco Island, FL
|
|
145
|
|
4
|
|
|
771,813
|
|
|
92.4
|
%
|
|
95.6
|
%
|
|
11,321
|
|
|
15.52
|
|
|
0.8
|
%
|
|
0.9
|
%
|
|
1.2
|
%
|
|
||
|
22
|
|
Ann Arbor, MI
|
|
146
|
|
4
|
|
|
1,061,249
|
|
|
91.7
|
%
|
|
92.0
|
%
|
|
11,180
|
|
|
13.66
|
|
|
0.8
|
%
|
|
1.2
|
%
|
|
1.2
|
%
|
|
||
|
23
|
|
Oxnard-Thousand Oaks-Ventura, CA
|
|
67
|
|
3
|
|
|
677,512
|
|
|
96.7
|
%
|
|
96.7
|
%
|
|
11,081
|
|
|
17.28
|
|
|
0.6
|
%
|
|
0.8
|
%
|
|
1.2
|
%
|
|
||
|
24
|
|
Binghamton, NY
|
|
189
|
|
4
|
|
|
751,207
|
|
|
99.4
|
%
|
|
99.8
|
%
|
|
10,256
|
|
|
13.69
|
|
|
0.8
|
%
|
|
0.9
|
%
|
|
1.1
|
%
|
|
||
|
25
|
|
San Francisco-Oakland-Hayward, CA
|
|
11
|
|
2
|
|
|
506,576
|
|
|
88.1
|
%
|
|
97.2
|
%
|
|
9,862
|
|
|
24.90
|
|
|
0.4
|
%
|
|
0.6
|
%
|
|
1.0
|
%
|
|
||
|
26
|
|
Vallejo-Fairfield, CA
|
|
122
|
|
1
|
|
|
525,067
|
|
|
87.2
|
%
|
|
94.0
|
%
|
|
8,662
|
|
|
17.77
|
|
|
0.2
|
%
|
|
0.6
|
%
|
|
0.9
|
%
|
|
||
|
27
|
|
Memphis, TN-MS-AR
|
|
42
|
|
1
|
|
|
659,193
|
|
|
78.5
|
%
|
|
86.4
|
%
|
|
8,647
|
|
|
15.84
|
|
|
0.2
|
%
|
|
0.8
|
%
|
|
0.9
|
%
|
|
||
|
28
|
|
Boston-Cambridge-Newton, MA-NH
|
|
10
|
|
6
|
|
|
707,909
|
|
|
88.8
|
%
|
|
96.9
|
%
|
|
8,573
|
|
|
12.56
|
|
|
1.2
|
%
|
|
0.8
|
%
|
|
0.9
|
%
|
|
||
|
29
|
|
Las Vegas-Henderson-Paradise, NV
|
|
29
|
|
3
|
|
|
613,061
|
|
|
94.9
|
%
|
|
94.9
|
%
|
|
8,389
|
|
|
16.35
|
|
|
0.6
|
%
|
|
0.7
|
%
|
|
0.9
|
%
|
|
||
|
30
|
|
Jacksonville, FL
|
|
40
|
|
5
|
|
|
834,493
|
|
|
82.5
|
%
|
|
83.3
|
%
|
|
8,202
|
|
|
12.33
|
|
|
1.0
|
%
|
|
1.0
|
%
|
|
0.9
|
%
|
|
||
|
31
|
|
Fresno, CA
|
|
56
|
|
2
|
|
|
442,299
|
|
|
98.6
|
%
|
|
98.6
|
%
|
|
7,678
|
|
|
17.85
|
|
|
0.4
|
%
|
|
0.5
|
%
|
|
0.8
|
%
|
|
||
|
32
|
|
Port St. Lucie, FL
|
|
111
|
|
5
|
|
|
636,145
|
|
|
79.9
|
%
|
|
84.6
|
%
|
|
7,678
|
|
|
14.38
|
|
|
1.0
|
%
|
|
0.7
|
%
|
|
0.8
|
%
|
|
||
|
33
|
|
Riverside-San Bernardino-Ontario, CA
|
|
13
|
|
4
|
|
|
537,088
|
|
|
95.9
|
%
|
|
97.3
|
%
|
|
7,259
|
|
|
15.50
|
|
|
0.8
|
%
|
|
0.6
|
%
|
|
0.8
|
%
|
|
||
|
34
|
|
New Haven-Milford, CT
|
|
65
|
|
6
|
|
|
571,463
|
|
|
91.0
|
%
|
|
91.0
|
%
|
|
7,188
|
|
|
13.83
|
|
|
1.2
|
%
|
|
0.7
|
%
|
|
0.7
|
%
|
|
||
|
35
|
|
Louisville/Jefferson County, KY-IN
|
|
44
|
|
4
|
|
|
707,728
|
|
|
96.1
|
%
|
|
96.1
|
%
|
|
7,130
|
|
|
10.77
|
|
|
0.8
|
%
|
|
0.8
|
%
|
|
0.7
|
%
|
|
||
|
36
|
|
Indianapolis-Carmel-Anderson, IN
|
|
34
|
|
4
|
|
|
875,968
|
|
|
81.2
|
%
|
|
87.3
|
%
|
|
6,909
|
|
|
9.07
|
|
|
0.8
|
%
|
|
1.0
|
%
|
|
0.7
|
%
|
|
||
|
37
|
|
Norwich-New London, CT
|
|
177
|
|
2
|
|
|
433,532
|
|
|
96.5
|
%
|
|
96.5
|
%
|
|
6,845
|
|
|
16.37
|
|
|
0.4
|
%
|
|
0.5
|
%
|
|
0.7
|
%
|
|
||
|
38
|
|
Milwaukee-Waukesha-West Allis, WI
|
|
39
|
|
4
|
|
|
710,327
|
|
|
89.8
|
%
|
|
90.1
|
%
|
|
6,523
|
|
|
10.19
|
|
|
0.8
|
%
|
|
0.8
|
%
|
|
0.7
|
%
|
|
||
|
39
|
|
Wilmington, NC
|
|
167
|
|
2
|
|
|
379,107
|
|
|
98.6
|
%
|
|
99.1
|
%
|
|
5,537
|
|
|
14.90
|
|
|
0.4
|
%
|
|
0.4
|
%
|
|
0.6
|
%
|
|
||
|
40
|
|
Springfield, MA
|
|
90
|
|
3
|
|
|
450,901
|
|
|
96.9
|
%
|
|
97.4
|
%
|
|
5,497
|
|
|
14.77
|
|
|
0.6
|
%
|
|
0.5
|
%
|
|
0.6
|
%
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
33
|
|
LARGEST MSAs BY ABR
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Dollars in thousands, except per square foot amounts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Percent of
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
Number of
|
|
|
|
Percent
|
|
Percent
|
|
|
|
|
|
Number of
|
|
Percent
|
|
Percent
|
|
||||||||||||
|
|
Largest MSAs by ABR
|
|
MSA Rank
|
|
Properties
|
|
GLA
|
|
Billed
|
|
Leased
|
|
ABR
|
|
ABR PSF
|
|
Properties
|
|
of GLA
|
|
of ABR
|
|
||||||||||||
|
41
|
|
College Station-Bryan, TX
|
|
187
|
|
4
|
|
|
491,463
|
|
|
95.8
|
%
|
|
96.8
|
%
|
|
5,461
|
|
|
13.74
|
|
|
0.8
|
%
|
|
0.6
|
%
|
|
0.6
|
%
|
|
||
|
42
|
|
North Port-Sarasota-Bradenton, FL
|
|
73
|
|
4
|
|
|
556,862
|
|
|
94.2
|
%
|
|
95.9
|
%
|
|
5,380
|
|
|
10.16
|
|
|
0.8
|
%
|
|
0.7
|
%
|
|
0.6
|
%
|
|
||
|
43
|
|
St. Louis, MO-IL
|
|
20
|
|
4
|
|
|
660,746
|
|
|
85.2
|
%
|
|
87.5
|
%
|
|
5,233
|
|
|
9.15
|
|
|
0.8
|
%
|
|
0.8
|
%
|
|
0.5
|
%
|
|
||
|
44
|
|
Worcester, MA-CT
|
|
58
|
|
3
|
|
|
515,644
|
|
|
81.1
|
%
|
|
84.4
|
%
|
|
5,219
|
|
|
14.31
|
|
|
0.6
|
%
|
|
0.6
|
%
|
|
0.5
|
%
|
|
||
|
45
|
|
Corpus Christi, TX
|
|
115
|
|
4
|
|
|
564,620
|
|
|
90.8
|
%
|
|
90.8
|
%
|
|
5,160
|
|
|
12.10
|
|
|
0.8
|
%
|
|
0.7
|
%
|
|
0.5
|
%
|
|
||
|
46
|
|
Dayton, OH
|
|
72
|
|
3
|
|
|
534,385
|
|
|
96.3
|
%
|
|
96.3
|
%
|
|
5,150
|
|
|
12.30
|
|
|
0.6
|
%
|
|
0.6
|
%
|
|
0.5
|
%
|
|
||
|
47
|
|
Scranton--Wilkes-Barre--Hazleton, PA
|
|
99
|
|
2
|
|
|
620,309
|
|
|
90.9
|
%
|
|
92.8
|
%
|
|
5,099
|
|
|
21.27
|
|
|
0.4
|
%
|
|
0.7
|
%
|
|
0.5
|
%
|
|
||
|
48
|
|
Winston-Salem, NC
|
83
|
|
3
|
|
|
438,898
|
|
|
91.8
|
%
|
|
92.4
|
%
|
|
5,074
|
|
|
12.93
|
|
|
0.6
|
%
|
|
0.5
|
%
|
|
0.5
|
%
|
|
|||
|
49
|
|
Greensboro-High Point, NC
|
|
75
|
|
1
|
|
|
406,768
|
|
|
97.6
|
%
|
|
99.5
|
%
|
|
4,984
|
|
|
14.41
|
|
|
0.2
|
%
|
|
0.5
|
%
|
|
0.5
|
%
|
|
||
|
50
|
|
Washington-Arlington-Alexandria, DC-VA-MD-WV
|
|
6
|
|
3
|
|
|
451,260
|
|
|
96.5
|
%
|
|
98.6
|
%
|
|
4,928
|
|
|
11.08
|
|
|
0.6
|
%
|
|
0.5
|
%
|
|
0.5
|
%
|
|
||
|
|
50 Largest MSAs by ABR
|
|
—
|
|
348
|
|
|
60,707,718
|
|
|
90.2
|
%
|
|
92.3
|
%
|
|
743,824
|
|
|
14.24
|
|
|
69.2
|
%
|
|
70.8
|
%
|
|
77.5
|
%
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
51
|
|
Kansas City, MO-KS
|
|
30
|
|
4
|
|
|
601,926
|
|
|
88.4
|
%
|
|
89.0
|
%
|
|
4,334
|
|
|
8.24
|
|
|
0.8
|
%
|
|
0.7
|
%
|
|
0.5
|
%
|
|
||
|
52
|
|
Manchester-Nashua, NH
|
|
132
|
|
2
|
|
|
348,189
|
|
|
81.0
|
%
|
|
87.0
|
%
|
|
4,073
|
|
|
23.57
|
|
|
0.4
|
%
|
|
0.4
|
%
|
|
0.4
|
%
|
|
||
|
53
|
|
Roanoke, VA
|
|
160
|
|
4
|
|
|
522,210
|
|
|
92.0
|
%
|
|
92.0
|
%
|
|
3,970
|
|
|
9.42
|
|
|
0.8
|
%
|
|
0.6
|
%
|
|
0.4
|
%
|
|
||
|
54
|
|
Pittsfield, MA
|
|
321
|
|
1
|
|
|
442,354
|
|
|
96.9
|
%
|
|
97.7
|
%
|
|
3,920
|
|
|
20.80
|
|
|
0.2
|
%
|
|
0.5
|
%
|
|
0.4
|
%
|
|
||
|
55
|
|
Columbus, OH
|
|
33
|
|
4
|
|
|
449,488
|
|
|
85.8
|
%
|
|
87.2
|
%
|
|
3,860
|
|
|
10.36
|
|
|
0.8
|
%
|
|
0.5
|
%
|
|
0.4
|
%
|
|
||
|
56
|
|
Boulder, CO
|
|
155
|
|
1
|
|
|
279,189
|
|
|
80.5
|
%
|
|
80.5
|
%
|
|
3,784
|
|
|
16.84
|
|
|
0.2
|
%
|
|
0.3
|
%
|
|
0.4
|
%
|
|
||
|
57
|
|
Charleston-North Charleston, SC
|
|
74
|
|
3
|
|
|
556,809
|
|
|
76.0
|
%
|
|
77.8
|
%
|
|
3,763
|
|
|
8.88
|
|
|
0.6
|
%
|
|
0.7
|
%
|
|
0.4
|
%
|
|
||
|
58
|
|
Panama City, FL
|
|
221
|
|
2
|
|
|
397,512
|
|
|
92.3
|
%
|
|
99.2
|
%
|
|
3,669
|
|
|
9.31
|
|
|
0.4
|
%
|
|
0.5
|
%
|
|
0.4
|
%
|
|
||
|
59
|
|
Raleigh, NC
|
|
43
|
|
2
|
|
|
291,027
|
|
|
71.8
|
%
|
|
92.2
|
%
|
|
3,603
|
|
|
13.55
|
|
|
0.4
|
%
|
|
0.3
|
%
|
|
0.4
|
%
|
|
||
|
60
|
|
Spartanburg, SC
|
|
153
|
|
1
|
|
|
360,277
|
|
|
88.1
|
%
|
|
88.9
|
%
|
|
3,573
|
|
|
11.74
|
|
|
0.2
|
%
|
|
0.4
|
%
|
|
0.4
|
%
|
|
||
|
61
|
|
Greenville-Anderson-Mauldin, SC
|
|
61
|
|
2
|
|
|
220,723
|
|
|
98.8
|
%
|
|
98.8
|
%
|
|
3,508
|
|
|
16.09
|
|
|
0.4
|
%
|
|
0.3
|
%
|
|
0.4
|
%
|
|
||
|
62
|
|
Virginia Beach-Norfolk-Newport News, VA-NC
|
|
37
|
|
2
|
|
|
205,245
|
|
|
97.1
|
%
|
|
100.0
|
%
|
|
3,416
|
|
|
16.76
|
|
|
0.4
|
%
|
|
0.2
|
%
|
|
0.4
|
%
|
|
||
|
63
|
|
Saginaw, MI
|
|
226
|
|
2
|
|
|
432,508
|
|
|
95.1
|
%
|
|
95.4
|
%
|
|
3,367
|
|
|
11.54
|
|
|
0.4
|
%
|
|
0.5
|
%
|
|
0.4
|
%
|
|
||
|
64
|
|
Atlantic City-Hammonton, NJ
|
|
176
|
|
1
|
|
|
179,199
|
|
|
99.1
|
%
|
|
99.1
|
%
|
|
3,352
|
|
|
18.87
|
|
|
0.2
|
%
|
|
0.2
|
%
|
|
0.3
|
%
|
|
||
|
65
|
|
Toledo, OH
|
|
91
|
|
2
|
|
|
609,113
|
|
|
83.3
|
%
|
|
83.7
|
%
|
|
3,212
|
|
|
7.95
|
|
|
0.4
|
%
|
|
0.7
|
%
|
|
0.3
|
%
|
|
||
|
66
|
|
Bakersfield, CA
|
|
62
|
|
1
|
|
|
240,328
|
|
|
90.7
|
%
|
|
90.7
|
%
|
|
3,108
|
|
|
14.53
|
|
|
0.2
|
%
|
|
0.3
|
%
|
|
0.3
|
%
|
|
||
|
67
|
|
Hilton Head Island-Bluffton-Beaufort, SC
|
|
210
|
|
2
|
|
|
230,352
|
|
|
95.0
|
%
|
|
95.0
|
%
|
|
3,091
|
|
|
14.13
|
|
|
0.4
|
%
|
|
0.3
|
%
|
|
0.3
|
%
|
|
||
|
68
|
|
Jackson, MS
|
|
94
|
|
2
|
|
|
333,275
|
|
|
90.3
|
%
|
|
90.3
|
%
|
|
3,076
|
|
|
10.69
|
|
|
0.4
|
%
|
|
0.4
|
%
|
|
0.3
|
%
|
|
||
|
69
|
|
Greenville, NC
|
|
239
|
|
1
|
|
|
233,153
|
|
|
96.2
|
%
|
|
96.2
|
%
|
|
3,026
|
|
|
13.49
|
|
|
0.2
|
%
|
|
0.3
|
%
|
|
0.3
|
%
|
|
||
|
70
|
|
Traverse City, MI
|
|
284
|
|
1
|
|
|
411,758
|
|
|
99.1
|
%
|
|
100.0
|
%
|
|
2,960
|
|
|
27.43
|
|
|
0.2
|
%
|
|
0.5
|
%
|
|
0.3
|
%
|
|
||
|
71
|
|
Richmond, VA
|
|
45
|
|
2
|
|
|
215,897
|
|
|
71.5
|
%
|
|
96.8
|
%
|
|
2,943
|
|
|
14.08
|
|
|
0.4
|
%
|
|
0.3
|
%
|
|
0.3
|
%
|
|
||
|
72
|
|
Lexington-Fayette, KY
|
|
106
|
|
2
|
|
|
414,960
|
|
|
98.1
|
%
|
|
100.0
|
%
|
|
2,929
|
|
|
7.06
|
|
|
0.4
|
%
|
|
0.5
|
%
|
|
0.3
|
%
|
|
||
|
73
|
|
Des Moines-West Des Moines, IA
|
|
89
|
|
2
|
|
|
513,385
|
|
|
89.1
|
%
|
|
94.0
|
%
|
|
2,844
|
|
|
5.95
|
|
|
0.4
|
%
|
|
0.6
|
%
|
|
0.3
|
%
|
|
||
|
74
|
|
Tullahoma-Manchester, TN
|
|
375
|
|
3
|
|
|
433,744
|
|
|
94.8
|
%
|
|
97.0
|
%
|
|
2,816
|
|
|
6.70
|
|
|
0.6
|
%
|
|
0.5
|
%
|
|
0.3
|
%
|
|
||
|
75
|
|
Lafayette, LA
|
|
108
|
|
3
|
|
|
433,211
|
|
|
92.6
|
%
|
|
92.6
|
%
|
|
2,757
|
|
|
6.87
|
|
|
0.6
|
%
|
|
0.5
|
%
|
|
0.3
|
%
|
|
||
|
76
|
|
Blacksburg-Christiansburg-Radford, VA
|
|
230
|
|
1
|
|
|
181,055
|
|
|
99.5
|
%
|
|
100.0
|
%
|
|
2,717
|
|
|
15.26
|
|
|
0.2
|
%
|
|
0.2
|
%
|
|
0.3
|
%
|
|
||
|
77
|
|
Savannah, GA
|
|
137
|
|
2
|
|
|
224,201
|
|
|
76.3
|
%
|
|
93.9
|
%
|
|
2,714
|
|
|
13.07
|
|
|
0.4
|
%
|
|
0.3
|
%
|
|
0.3
|
%
|
|
||
|
78
|
|
Odessa, TX
|
|
264
|
|
1
|
|
|
365,559
|
|
|
93.2
|
%
|
|
93.2
|
%
|
|
2,665
|
|
|
13.10
|
|
|
0.2
|
%
|
|
0.4
|
%
|
|
0.3
|
%
|
|
||
|
79
|
|
Lancaster, PA
|
|
103
|
|
3
|
|
|
236,006
|
|
|
97.7
|
%
|
|
99.4
|
%
|
|
2,585
|
|
|
11.02
|
|
|
0.6
|
%
|
|
0.3
|
%
|
|
0.3
|
%
|
|
||
|
80
|
|
Mobile, AL
|
|
128
|
|
1
|
|
|
606,731
|
|
|
74.4
|
%
|
|
74.4
|
%
|
|
2,482
|
|
|
9.03
|
|
|
0.2
|
%
|
|
0.7
|
%
|
|
0.3
|
%
|
|
||
|
81
|
|
Bridgeport-Stamford-Norwalk, CT
|
|
57
|
|
1
|
|
|
161,075
|
|
|
86.3
|
%
|
|
88.0
|
%
|
|
2,482
|
|
|
17.52
|
|
|
0.2
|
%
|
|
0.2
|
%
|
|
0.3
|
%
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
34
|
|
LARGEST MSAs BY ABR
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Dollars in thousands, except per square foot amounts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Percent of
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
Number of
|
|
|
|
Percent
|
|
Percent
|
|
|
|
|
|
Number of
|
|
Percent
|
|
Percent
|
|
||||||||||||
|
|
Largest MSAs by ABR
|
|
MSA Rank
|
|
Properties
|
|
GLA
|
|
Billed
|
|
Leased
|
|
ABR
|
|
ABR PSF
|
|
Properties
|
|
of GLA
|
|
of ABR
|
|
||||||||||||
|
82
|
|
Chattanooga, TN-GA
|
|
100
|
|
2
|
|
|
339,426
|
|
|
95.1
|
%
|
|
96.6
|
%
|
|
2,444
|
|
|
8.08
|
|
|
0.4
|
%
|
|
0.4
|
%
|
|
0.3
|
%
|
|
||
|
83
|
|
Fort Wayne, IN
|
|
125
|
|
2
|
|
|
253,951
|
|
|
78.7
|
%
|
|
83.1
|
%
|
|
2,436
|
|
|
13.42
|
|
|
0.4
|
%
|
|
0.3
|
%
|
|
0.3
|
%
|
|
||
|
84
|
|
Merced, CA
|
|
178
|
|
1
|
|
|
147,557
|
|
|
100.0
|
%
|
|
100.0
|
%
|
|
2,431
|
|
|
16.47
|
|
|
0.2
|
%
|
|
0.2
|
%
|
|
0.3
|
%
|
|
||
|
85
|
|
Dover, DE
|
|
241
|
|
1
|
|
|
191,974
|
|
|
100.0
|
%
|
|
100.0
|
%
|
|
2,361
|
|
|
12.30
|
|
|
0.2
|
%
|
|
0.2
|
%
|
|
0.2
|
%
|
|
||
|
86
|
|
Elkhart-Goshen, IN
|
|
219
|
|
2
|
|
|
329,319
|
|
|
87.3
|
%
|
|
87.3
|
%
|
|
2,258
|
|
|
18.49
|
|
|
0.4
|
%
|
|
0.4
|
%
|
|
0.2
|
%
|
|
||
|
87
|
|
Syracuse, NY
|
|
84
|
|
2
|
|
|
347,412
|
|
|
58.8
|
%
|
|
77.9
|
%
|
|
2,155
|
|
|
7.96
|
|
|
0.4
|
%
|
|
0.4
|
%
|
|
0.2
|
%
|
|
||
|
88
|
|
Corning, NY
|
|
397
|
|
1
|
|
|
253,335
|
|
|
100.0
|
%
|
|
100.0
|
%
|
|
2,108
|
|
|
8.32
|
|
|
0.2
|
%
|
|
0.3
|
%
|
|
0.2
|
%
|
|
||
|
89
|
|
Duluth, MN-WI
|
|
171
|
|
1
|
|
|
182,969
|
|
|
95.5
|
%
|
|
97.7
|
%
|
|
2,069
|
|
|
11.58
|
|
|
0.2
|
%
|
|
0.2
|
%
|
|
0.2
|
%
|
|
||
|
90
|
|
Concord, NH
|
|
286
|
|
1
|
|
|
182,887
|
|
|
100.0
|
%
|
|
100.0
|
%
|
|
2,036
|
|
|
11.39
|
|
|
0.2
|
%
|
|
0.2
|
%
|
|
0.2
|
%
|
|
||
|
91
|
|
Hickory-Lenoir-Morganton, NC
|
|
147
|
|
2
|
|
|
295,970
|
|
|
80.9
|
%
|
|
81.3
|
%
|
|
2,003
|
|
|
8.33
|
|
|
0.4
|
%
|
|
0.3
|
%
|
|
0.2
|
%
|
|
||
|
92
|
|
Rutland, VT
|
|
532
|
|
1
|
|
|
224,514
|
|
|
98.6
|
%
|
|
98.6
|
%
|
|
1,971
|
|
|
8.91
|
|
|
0.2
|
%
|
|
0.3
|
%
|
|
0.2
|
%
|
|
||
|
93
|
|
Altoona, PA
|
|
327
|
|
1
|
|
|
278,586
|
|
|
79.7
|
%
|
|
79.7
|
%
|
|
1,966
|
|
|
8.85
|
|
|
0.2
|
%
|
|
0.3
|
%
|
|
0.2
|
%
|
|
||
|
94
|
|
Santa Maria-Santa Barbara, CA
|
|
119
|
|
1
|
|
|
179,549
|
|
|
100.0
|
%
|
|
100.0
|
%
|
|
1,956
|
|
|
11.74
|
|
|
0.2
|
%
|
|
0.2
|
%
|
|
0.2
|
%
|
|
||
|
95
|
|
Pittsburgh, PA
|
|
26
|
|
1
|
|
|
199,079
|
|
|
100.0
|
%
|
|
100.0
|
%
|
|
1,932
|
|
|
10.76
|
|
|
0.2
|
%
|
|
0.2
|
%
|
|
0.2
|
%
|
|
||
|
96
|
|
Sacramento--Roseville--Arden-Arcade, CA
|
|
27
|
|
1
|
|
|
103,695
|
|
|
93.5
|
%
|
|
94.7
|
%
|
|
1,929
|
|
|
19.65
|
|
|
0.2
|
%
|
|
0.1
|
%
|
|
0.2
|
%
|
|
||
|
97
|
|
Portland-South Portland, ME
|
|
104
|
|
1
|
|
|
287,513
|
|
|
91.1
|
%
|
|
91.1
|
%
|
|
1,927
|
|
|
20.61
|
|
|
0.2
|
%
|
|
0.3
|
%
|
|
0.2
|
%
|
|
||
|
98
|
|
Springfield, IL
|
|
212
|
|
2
|
|
|
178,494
|
|
|
94.2
|
%
|
|
94.2
|
%
|
|
1,908
|
|
|
11.35
|
|
|
0.4
|
%
|
|
0.2
|
%
|
|
0.2
|
%
|
|
||
|
99
|
|
Tucson, AZ
|
|
53
|
|
1
|
|
|
168,585
|
|
|
94.3
|
%
|
|
96.8
|
%
|
|
1,893
|
|
|
11.60
|
|
|
0.2
|
%
|
|
0.2
|
%
|
|
0.2
|
%
|
|
||
|
100
|
|
Tulsa, OK
|
|
55
|
|
1
|
|
|
186,851
|
|
|
100.0
|
%
|
|
100.0
|
%
|
|
1,837
|
|
|
9.83
|
|
|
0.2
|
%
|
|
0.2
|
%
|
|
0.2
|
%
|
|
||
|
|
100 Largest MSAs by ABR
|
|
—
|
|
434
|
|
|
76,169,843
|
|
|
89.9
|
%
|
|
92.2
|
%
|
|
884,043
|
|
|
13.68
|
|
|
85.6
|
%
|
|
89.1
|
%
|
|
92.1
|
%
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
Other MSAs
|
|
—
|
|
73
|
|
|
9,290,519
|
|
|
89.9
|
%
|
|
91.1
|
%
|
|
75,757
|
|
|
9.44
|
|
|
14.4
|
%
|
|
10.9
|
%
|
|
7.9
|
%
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
TOTAL
|
|
—
|
|
507
|
|
|
85,460,362
|
|
|
89.9
|
%
|
|
92.0
|
%
|
|
$
|
959,800
|
|
|
$
|
13.21
|
|
|
100.0
|
%
|
|
100.0
|
%
|
|
100.0
|
%
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
35
|
|
PROPERTIES BY STATE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Dollars in thousands, except per square foot amounts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Percent of
|
|
|
|
|
|
||||||||||||
|
|
|
|
Number of
|
|
|
|
Percent
|
|
Percent
|
|
|
|
|
|
Number of
|
|
Percent
|
|
Percent
|
|
||||||||||||
|
|
State
|
|
Properties
|
|
GLA
|
|
Billed
|
|
Leased
|
|
ABR
|
|
ABR PSF
|
|
Properties
|
|
of GLA
|
|
of ABR
|
|
||||||||||||
|
1
|
|
Texas
|
|
65
|
|
|
9,512,340
|
|
|
89.7
|
%
|
|
91.3
|
%
|
|
$
|
107,916
|
|
|
$
|
13.23
|
|
|
12.8
|
%
|
|
11.1
|
%
|
|
11.2
|
%
|
|
|
2
|
|
Florida
|
|
55
|
|
|
8,649,011
|
|
|
89.4
|
%
|
|
91.1
|
%
|
|
104,030
|
|
|
13.71
|
|
|
10.8
|
%
|
|
10.1
|
%
|
|
10.8
|
%
|
|
||
|
3
|
|
California
|
|
30
|
|
|
5,969,189
|
|
|
93.5
|
%
|
|
96.8
|
%
|
|
98,133
|
|
|
18.38
|
|
|
5.9
|
%
|
|
7.0
|
%
|
|
10.2
|
%
|
|
||
|
4
|
|
Pennsylvania
|
|
35
|
|
|
5,928,790
|
|
|
92.8
|
%
|
|
94.7
|
%
|
|
67,817
|
|
|
14.42
|
|
|
6.9
|
%
|
|
6.9
|
%
|
|
7.1
|
%
|
|
||
|
5
|
|
New York
|
|
32
|
|
|
4,251,231
|
|
|
90.4
|
%
|
|
92.6
|
%
|
|
65,141
|
|
|
16.93
|
|
|
6.3
|
%
|
|
5.0
|
%
|
|
6.8
|
%
|
|
||
|
6
|
|
Illinois
|
|
24
|
|
|
4,863,320
|
|
|
84.8
|
%
|
|
87.0
|
%
|
|
50,936
|
|
|
12.56
|
|
|
4.7
|
%
|
|
5.7
|
%
|
|
5.3
|
%
|
|
||
|
7
|
|
Georgia
|
|
35
|
|
|
4,868,415
|
|
|
88.2
|
%
|
|
90.9
|
%
|
|
45,460
|
|
|
10.51
|
|
|
6.9
|
%
|
|
5.7
|
%
|
|
4.7
|
%
|
|
||
|
8
|
|
New Jersey
|
|
18
|
|
|
3,090,437
|
|
|
90.5
|
%
|
|
92.6
|
%
|
|
42,748
|
|
|
15.87
|
|
|
3.6
|
%
|
|
3.6
|
%
|
|
4.5
|
%
|
|
||
|
9
|
|
North Carolina
|
|
21
|
|
|
4,330,939
|
|
|
89.1
|
%
|
|
92.6
|
%
|
|
42,164
|
|
|
11.23
|
|
|
4.1
|
%
|
|
5.1
|
%
|
|
4.4
|
%
|
|
||
|
10
|
|
Ohio
|
|
23
|
|
|
4,310,159
|
|
|
92.2
|
%
|
|
93.3
|
%
|
|
41,323
|
|
|
11.64
|
|
|
4.5
|
%
|
|
5.0
|
%
|
|
4.3
|
%
|
|
||
|
11
|
|
Michigan
|
|
20
|
|
|
4,080,927
|
|
|
88.9
|
%
|
|
90.2
|
%
|
|
38,889
|
|
|
13.05
|
|
|
3.9
|
%
|
|
4.8
|
%
|
|
4.1
|
%
|
|
||
|
12
|
|
Tennessee
|
|
15
|
|
|
3,063,088
|
|
|
91.1
|
%
|
|
93.6
|
%
|
|
29,938
|
|
|
11.01
|
|
|
3.0
|
%
|
|
3.6
|
%
|
|
3.1
|
%
|
|
||
|
13
|
|
Connecticut
|
|
14
|
|
|
2,187,577
|
|
|
92.6
|
%
|
|
93.1
|
%
|
|
29,674
|
|
|
15.62
|
|
|
2.8
|
%
|
|
2.6
|
%
|
|
3.1
|
%
|
|
||
|
14
|
|
Kentucky
|
|
12
|
|
|
2,600,654
|
|
|
96.1
|
%
|
|
96.4
|
%
|
|
22,578
|
|
|
9.61
|
|
|
2.4
|
%
|
|
3.0
|
%
|
|
2.4
|
%
|
|
||
|
15
|
|
Massachusetts
|
|
11
|
|
|
1,875,114
|
|
|
92.9
|
%
|
|
94.3
|
%
|
|
21,319
|
|
|
15.36
|
|
|
2.2
|
%
|
|
2.2
|
%
|
|
2.2
|
%
|
|
||
|
16
|
|
Colorado
|
|
6
|
|
|
1,470,932
|
|
|
81.8
|
%
|
|
86.9
|
%
|
|
17,926
|
|
|
14.10
|
|
|
1.2
|
%
|
|
1.7
|
%
|
|
1.9
|
%
|
|
||
|
17
|
|
Minnesota
|
|
10
|
|
|
1,471,106
|
|
|
88.9
|
%
|
|
89.1
|
%
|
|
15,773
|
|
|
12.82
|
|
|
2.0
|
%
|
|
1.7
|
%
|
|
1.6
|
%
|
|
||
|
18
|
|
Indiana
|
|
12
|
|
|
1,858,689
|
|
|
83.0
|
%
|
|
88.6
|
%
|
|
15,629
|
|
|
10.80
|
|
|
2.4
|
%
|
|
2.2
|
%
|
|
1.6
|
%
|
|
||
|
19
|
|
Virginia
|
|
11
|
|
|
1,447,531
|
|
|
87.6
|
%
|
|
92.4
|
%
|
|
15,219
|
|
|
11.95
|
|
|
2.2
|
%
|
|
1.7
|
%
|
|
1.6
|
%
|
|
||
|
20
|
|
South Carolina
|
|
8
|
|
|
1,368,161
|
|
|
86.0
|
%
|
|
87.0
|
%
|
|
13,935
|
|
|
11.96
|
|
|
1.6
|
%
|
|
1.6
|
%
|
|
1.5
|
%
|
|
||
|
21
|
|
Nevada
|
|
3
|
|
|
613,061
|
|
|
94.9
|
%
|
|
94.9
|
%
|
|
8,389
|
|
|
16.35
|
|
|
0.6
|
%
|
|
0.7
|
%
|
|
0.9
|
%
|
|
||
|
22
|
|
Maryland
|
|
5
|
|
|
615,519
|
|
|
98.7
|
%
|
|
99.0
|
%
|
|
8,311
|
|
|
13.72
|
|
|
1.0
|
%
|
|
0.7
|
%
|
|
0.9
|
%
|
|
||
|
23
|
|
New Hampshire
|
|
5
|
|
|
772,770
|
|
|
82.2
|
%
|
|
91.8
|
%
|
|
7,999
|
|
|
13.98
|
|
|
1.0
|
%
|
|
0.9
|
%
|
|
0.8
|
%
|
|
||
|
24
|
|
Wisconsin
|
|
4
|
|
|
710,327
|
|
|
89.8
|
%
|
|
90.1
|
%
|
|
6,523
|
|
|
10.19
|
|
|
0.8
|
%
|
|
0.8
|
%
|
|
0.7
|
%
|
|
||
|
25
|
|
Missouri
|
|
6
|
|
|
864,942
|
|
|
85.7
|
%
|
|
87.5
|
%
|
|
6,348
|
|
|
8.57
|
|
|
1.2
|
%
|
|
1.0
|
%
|
|
0.7
|
%
|
|
||
|
26
|
|
Alabama
|
|
4
|
|
|
984,573
|
|
|
82.6
|
%
|
|
82.6
|
%
|
|
5,797
|
|
|
9.11
|
|
|
0.8
|
%
|
|
1.2
|
%
|
|
0.6
|
%
|
|
||
|
27
|
|
Iowa
|
|
4
|
|
|
723,408
|
|
|
89.8
|
%
|
|
93.3
|
%
|
|
4,236
|
|
|
6.37
|
|
|
0.8
|
%
|
|
0.8
|
%
|
|
0.4
|
%
|
|
||
|
28
|
|
Louisiana
|
|
4
|
|
|
612,250
|
|
|
94.1
|
%
|
|
94.1
|
%
|
|
3,786
|
|
|
6.64
|
|
|
0.8
|
%
|
|
0.7
|
%
|
|
0.4
|
%
|
|
||
|
29
|
|
Kansas
|
|
2
|
|
|
370,239
|
|
|
92.7
|
%
|
|
93.3
|
%
|
|
3,163
|
|
|
11.78
|
|
|
0.4
|
%
|
|
0.4
|
%
|
|
0.3
|
%
|
|
||
|
30
|
|
Arizona
|
|
2
|
|
|
288,110
|
|
|
84.4
|
%
|
|
91.1
|
%
|
|
3,154
|
|
|
12.02
|
|
|
0.4
|
%
|
|
0.3
|
%
|
|
0.3
|
%
|
|
||
|
31
|
|
Mississippi
|
|
2
|
|
|
333,275
|
|
|
90.3
|
%
|
|
90.3
|
%
|
|
3,076
|
|
|
10.69
|
|
|
0.4
|
%
|
|
0.4
|
%
|
|
0.3
|
%
|
|
||
|
32
|
|
Delaware
|
|
1
|
|
|
191,974
|
|
|
100.0
|
%
|
|
100.0
|
%
|
|
2,361
|
|
|
12.30
|
|
|
0.2
|
%
|
|
0.2
|
%
|
|
0.2
|
%
|
|
||
|
33
|
|
West Virginia
|
|
2
|
|
|
251,500
|
|
|
98.8
|
%
|
|
98.8
|
%
|
|
2,063
|
|
|
8.30
|
|
|
0.4
|
%
|
|
0.3
|
%
|
|
0.2
|
%
|
|
||
|
34
|
|
Vermont
|
|
1
|
|
|
224,514
|
|
|
98.6
|
%
|
|
98.6
|
%
|
|
1,971
|
|
|
8.91
|
|
|
0.2
|
%
|
|
0.3
|
%
|
|
0.2
|
%
|
|
||
|
35
|
|
Maine
|
|
1
|
|
|
287,513
|
|
|
91.1
|
%
|
|
91.1
|
%
|
|
1,927
|
|
|
20.61
|
|
|
0.2
|
%
|
|
0.3
|
%
|
|
0.2
|
%
|
|
||
|
36
|
|
Oklahoma
|
|
1
|
|
|
186,851
|
|
|
100.0
|
%
|
|
100.0
|
%
|
|
1,837
|
|
|
9.83
|
|
|
0.2
|
%
|
|
0.2
|
%
|
|
0.2
|
%
|
|
||
|
37
|
|
Rhode Island
|
|
1
|
|
|
148,126
|
|
|
80.8
|
%
|
|
83.8
|
%
|
|
1,345
|
|
|
10.83
|
|
|
0.2
|
%
|
|
0.2
|
%
|
|
0.1
|
%
|
|
||
|
38
|
|
New Mexico
|
|
2
|
|
|
83,800
|
|
|
100.0
|
%
|
|
100.0
|
%
|
|
966
|
|
|
11.53
|
|
|
0.4
|
%
|
|
0.1
|
%
|
|
0.1
|
%
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
TOTAL
|
|
507
|
|
|
85,460,362
|
|
|
89.9
|
%
|
|
92.0
|
%
|
|
$
|
959,800
|
|
|
$
|
13.21
|
|
|
100.0
|
%
|
|
100.0
|
%
|
|
100.0
|
%
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
36
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
37
|
|
PROPERTY LIST
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Dollars in thousands, except per square foot amounts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
Year
|
|
|
|
Percent
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
Property Name
|
|
City
|
|
State
|
|
Metropolitan Statistical Area
|
|
Built
|
|
GLA
|
|
Leased
|
|
ABR
|
|
ABR PSF
|
|
Grocer (1)
|
|
Other Major Tenants
|
|
Non-Owned Major Tenants
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
47
|
|
|
The Manchester Collection
|
|
Manchester
|
|
CT
|
|
Hartford-West Hartford-East Hartford, CT
|
|
2001
|
|
339,775
|
|
|
92.4
|
%
|
|
4,408
|
|
|
14.04
|
|
|
Sam's Club*, Walmart Supercenter*
|
|
A.C. Moore, Ashley Furniture, Babies"R"Us, Bed Bath & Beyond, Big Bob's Flooring Outlet, DSW, Edge Fitness, Hobby Lobby, Men's Wearhouse, Plaza Azteca
|
|
Best Buy, Home Depot, Walmart
|
||
48
|
|
|
Chamberlain Plaza
|
|
Meriden
|
|
CT
|
|
New Haven-Milford, CT
|
|
2004
|
|
54,302
|
|
|
100.0
|
%
|
|
592
|
|
|
10.90
|
|
|
—
|
|
Dollar Tree, Savers
|
|
|
||
49
|
|
|
Milford Center
|
|
Milford
|
|
CT
|
|
New Haven-Milford, CT
|
|
1966
|
|
25,056
|
|
|
0.0
|
%
|
|
—
|
|
|
—
|
|
|
—
|
|
—
|
|
|
||
50
|
|
|
Turnpike Plaza
|
|
Newington
|
|
CT
|
|
Hartford-West Hartford-East Hartford, CT
|
|
2004
|
|
149,894
|
|
|
98.2
|
%
|
|
2,464
|
|
|
16.74
|
|
|
Price Chopper
|
|
Dick's Sporting Goods
|
|
|
||
51
|
|
|
North Haven Crossing
|
|
North Haven
|
|
CT
|
|
New Haven-Milford, CT
|
|
1993
|
|
103,865
|
|
|
90.5
|
%
|
|
1,678
|
|
|
17.86
|
|
|
—
|
|
Barnes & Noble, Dollar Tree, DSW, Five Below, Lumber Liquidators, PetSmart
|
|
|
||
52
|
|
|
Christmas Tree Plaza
|
|
Orange
|
|
CT
|
|
New Haven-Milford, CT
|
|
1996
|
|
132,791
|
|
|
92.1
|
%
|
|
1,600
|
|
|
13.08
|
|
|
—
|
|
A.C. Moore, Christmas Tree Shops
|
|
|
||
53
|
|
|
Stratford Square
|
|
Stratford
|
|
CT
|
|
Bridgeport-Stamford-Norwalk, CT
|
|
1984
|
|
161,075
|
|
|
88.0
|
%
|
|
2,482
|
|
|
17.52
|
|
|
—
|
|
LA Fitness, Marshalls
|
|
|
||
54
|
|
|
Torrington Plaza
|
|
Torrington
|
|
CT
|
|
Torrington, CT
|
|
1994
|
|
125,496
|
|
|
84.3
|
%
|
|
1,188
|
|
|
11.23
|
|
|
—
|
|
Jo-Ann Fabric & Craft Stores, Staples, T.J.Maxx
|
|
|
||
55
|
|
|
Waterbury Plaza
|
|
Waterbury
|
|
CT
|
|
New Haven-Milford, CT
|
|
2000
|
|
183,096
|
|
|
96.6
|
%
|
|
2,291
|
|
|
12.95
|
|
|
Super Stop & Shop (Ahold)
|
|
Dollar Tree
|
|
Target
|
||
56
|
|
|
Waterford Commons
|
|
Waterford
|
|
CT
|
|
Norwich-New London, CT
|
|
2004
|
|
236,730
|
|
|
96.2
|
%
|
|
4,348
|
|
|
19.10
|
|
|
—
|
|
Babies"R"Us, Dick’s Sporting Goods, DSW, Michaels, Party City, Ulta
|
|
Best Buy, Raymour & Flanigan
|
||
57
|
|
|
North Dover Center
|
|
Dover
|
|
DE
|
|
Dover, DE
|
|
1989
|
|
191,974
|
|
|
100.0
|
%
|
|
2,361
|
|
|
12.30
|
|
|
Acme (Albertsons)
|
|
Party City, Staples, T.J.Maxx, Toys"R"Us
|
|
|
||
58
|
|
|
Brooksville Square
|
|
Brooksville
|
|
FL
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
1987
|
|
156,361
|
|
|
94.1
|
%
|
|
1,621
|
|
|
11.02
|
|
|
Publix
|
|
Sears Outlet
|
|
|
||
59
|
|
|
Coastal Way - Coastal Landing
|
|
Brooksville
|
|
FL
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
2008
|
|
374,598
|
|
|
92.9
|
%
|
|
3,489
|
|
|
17.53
|
|
|
—
|
|
Bed Bath & Beyond, Belk, Marshalls, Michaels, Office Depot, Petco, Sears, Ulta
|
|
|
||
60
|
|
|
Midpoint Center
|
|
Cape Coral
|
|
FL
|
|
Cape Coral-Fort Myers, FL
|
|
2002
|
|
75,386
|
|
|
98.6
|
%
|
|
991
|
|
|
13.33
|
|
|
Publix
|
|
—
|
|
Target
|
||
61
|
|
|
Clearwater Mall
|
|
Clearwater
|
|
FL
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
1973
|
|
300,929
|
|
|
87.0
|
%
|
|
5,919
|
|
|
23.98
|
|
|
Costco*, SuperTarget*
|
|
David's Bridal, Michaels, PetSmart, Ross Dress for Less
|
|
Lowe's
|
||
62
|
|
|
Coconut Creek Plaza
|
|
Coconut Creek
|
|
FL
|
|
Miami-Fort Lauderdale-West Palm Beach, FL
|
|
2005
|
|
265,671
|
|
|
84.4
|
%
|
|
3,150
|
|
|
14.05
|
|
|
Publix
|
|
Bealls Outlet, Big Lots, Off the Wall Trampoline, Planet Fitness
|
|
|
||
63
|
|
|
Century Plaza Shopping Center
|
|
Deerfield Beach
|
|
FL
|
|
Miami-Fort Lauderdale-West Palm Beach, FL
|
|
2006
|
|
85,783
|
|
|
90.8
|
%
|
|
1,503
|
|
|
19.30
|
|
|
—
|
|
Broward County Library, CVS
|
|
|
||
64
|
|
|
Northgate Shopping Center
|
|
DeLand
|
|
FL
|
|
Deltona-Daytona Beach-Ormond Beach, FL
|
|
1993
|
|
186,396
|
|
|
98.7
|
%
|
|
1,341
|
|
|
7.29
|
|
|
Publix
|
|
—
|
|
|
||
65
|
|
|
First Street Village
|
|
Fort Meyers
|
|
FL
|
|
Cape Coral-Fort Myers, FL
|
|
2006
|
|
54,926
|
|
|
96.0
|
%
|
|
792
|
|
|
15.02
|
|
|
Publix
|
|
—
|
|
|
||
66
|
|
|
Sun Plaza
|
|
Ft. Walton Beach
|
|
FL
|
|
Crestview-Fort Walton Beach-Destin, FL
|
|
2004
|
|
158,118
|
|
|
99.1
|
%
|
|
1,686
|
|
|
10.76
|
|
|
Publix
|
|
Bealls Outlet, Books-A-Million, Office Depot, T.J.Maxx
|
|
|
||
67
|
|
|
Normandy Square
|
|
Jacksonville
|
|
FL
|
|
Jacksonville, FL
|
|
1996
|
|
89,822
|
|
|
88.8
|
%
|
|
757
|
|
|
9.81
|
|
|
Winn-Dixie (Southeastern Grocers)
|
|
Family Dollar
|
|
|
||
68
|
|
|
Regency Park Shopping Center
|
|
Jacksonville
|
|
FL
|
|
Jacksonville, FL
|
|
1985
|
|
334,065
|
|
|
71.5
|
%
|
|
1,624
|
|
|
7.49
|
|
|
—
|
|
American Signature Furniture, Bealls Outlet, Books-A-Million, David's Bridal, Hard Knocks, Ollie's Bargain Outlet
|
|
|
||
69
|
|
|
The Shoppes at Southside
|
|
Jacksonville
|
|
FL
|
|
Jacksonville, FL
|
|
2004
|
|
109,113
|
|
|
100.0
|
%
|
|
1,961
|
|
|
17.97
|
|
|
—
|
|
Best Buy, David's Bridal, Restoration Hardware
|
|
|
||
70
|
|
|
Ventura Downs (2)
|
|
Kissimmee
|
|
FL
|
|
Orlando-Kissimmee-Sanford, FL
|
|
2017
|
|
98,191
|
|
|
97.7
|
%
|
|
1,273
|
|
|
13.28
|
|
|
—
|
|
LA Fitness
|
|
|
||
71
|
|
|
Marketplace at Wycliffe
|
|
Lake Worth
|
|
FL
|
|
Miami-Fort Lauderdale-West Palm Beach, FL
|
|
2002
|
|
133,520
|
|
|
98.6
|
%
|
|
2,299
|
|
|
17.46
|
|
|
Walmart Neighborhood Market
|
|
Walgreens
|
|
|
||
72
|
|
|
Venetian Isle Shopping Ctr
|
|
Lighthouse Point
|
|
FL
|
|
Miami-Fort Lauderdale-West Palm Beach, FL
|
|
1992
|
|
182,314
|
|
|
94.5
|
%
|
|
1,922
|
|
|
11.49
|
|
|
Publix
|
|
Dollar Tree, Petco, Staples, Tuesday Morning, T.J.Maxx
|
|
|
||
73
|
|
|
Marco Town Center
|
|
Marco Island
|
|
FL
|
|
Naples-Immokalee-Marco Island, FL
|
|
2001
|
|
109,931
|
|
|
81.6
|
%
|
|
1,894
|
|
|
21.10
|
|
|
Publix
|
|
—
|
|
|
||
74
|
|
|
Mall at 163rd Street
|
|
Miami
|
|
FL
|
|
Miami-Fort Lauderdale-West Palm Beach, FL
|
|
2007
|
|
339,478
|
|
|
71.5
|
%
|
|
3,493
|
|
|
18.11
|
|
|
Walmart Supercenter*
|
|
Citi Trends, Marshalls, Ross Dress for Less
|
|
|
||
75
|
|
|
Miami Gardens
|
|
Miami
|
|
FL
|
|
Miami-Fort Lauderdale-West Palm Beach, FL
|
|
1996
|
|
244,719
|
|
|
98.8
|
%
|
|
2,638
|
|
|
10.91
|
|
|
Fresco y Más (Southeastern Grocers)
|
|
Ross Dress for Less
|
|
|
||
76
|
|
|
Freedom Square
|
|
Naples
|
|
FL
|
|
Naples-Immokalee-Marco Island, FL
|
|
1995
|
|
211,839
|
|
|
100.0
|
%
|
|
2,018
|
|
|
9.53
|
|
|
Publix
|
|
—
|
|
|
||
77
|
|
|
Naples Plaza
|
|
Naples
|
|
FL
|
|
Naples-Immokalee-Marco Island, FL
|
|
2013
|
|
201,795
|
|
|
100.0
|
%
|
|
3,525
|
|
|
17.77
|
|
|
Publix
|
|
Marshalls, Office Depot, PGA TOUR Superstore
|
|
|
||
78
|
|
|
Park Shore Plaza (2)
|
|
Naples
|
|
FL
|
|
Naples-Immokalee-Marco Island, FL
|
|
2017
|
|
248,248
|
|
|
94.6
|
%
|
|
3,884
|
|
|
16.93
|
|
|
The Fresh Market
|
|
Big Lots, Burlington Stores, HomeGoods, Kirkland's, Party City, Saks OFF Fifth
|
|
|
||
79
|
|
|
Chelsea Place
|
|
New Port Richey
|
|
FL
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
1992
|
|
81,144
|
|
|
96.8
|
%
|
|
972
|
|
|
12.38
|
|
|
Publix
|
|
Zone Fitness Club
|
|
|
||
80
|
|
|
Southgate Center
|
|
New Port Richey
|
|
FL
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
1966
|
|
250,256
|
|
|
96.8
|
%
|
|
2,449
|
|
|
10.70
|
|
|
Publix
|
|
Bealls Outlet, Big Lots, Lumber Liquidators, Old Time Pottery, Pet Supermarket, YouFit Health Club
|
|
|
||
81
|
|
|
Presidential Plaza West
|
|
North Lauderdale
|
|
FL
|
|
Miami-Fort Lauderdale-West Palm Beach, FL
|
|
2006
|
|
88,441
|
|
|
91.8
|
%
|
|
865
|
|
|
10.66
|
|
|
Sedano's
|
|
Family Dollar
|
|
|
||
82
|
|
|
Fashion Square
|
|
Orange Park
|
|
FL
|
|
Jacksonville, FL
|
|
1996
|
|
36,029
|
|
|
46.5
|
%
|
|
378
|
|
|
32.87
|
|
|
—
|
|
Miller's Orange Park Ale House
|
|
|
||
83
|
|
|
Colonial Marketplace
|
|
Orlando
|
|
FL
|
|
Orlando-Kissimmee-Sanford, FL
|
|
1986
|
|
141,069
|
|
|
99.4
|
%
|
|
2,392
|
|
|
17.06
|
|
|
—
|
|
Burlington Stores, LA Fitness
|
|
Target
|
||
84
|
|
|
Conway Crossing
|
|
Orlando
|
|
FL
|
|
Orlando-Kissimmee-Sanford, FL
|
|
2002
|
|
76,321
|
|
|
98.7
|
%
|
|
986
|
|
|
13.09
|
|
|
Publix
|
|
—
|
|
|
||
85
|
|
|
Hunter's Creek Plaza
|
|
Orlando
|
|
FL
|
|
Orlando-Kissimmee-Sanford, FL
|
|
1998
|
|
73,204
|
|
|
93.4
|
%
|
|
1,066
|
|
|
15.58
|
|
|
Lucky's Market
|
|
Office Depot
|
|
|
||
86
|
|
|
Pointe Orlando
|
|
Orlando
|
|
FL
|
|
Orlando-Kissimmee-Sanford, FL
|
|
1997
|
|
419,444
|
|
|
91.3
|
%
|
|
8,639
|
|
|
23.30
|
|
|
—
|
|
Main Event, Regal Cinemas
|
|
|
||
87
|
|
|
Martin Downs Town Center
|
|
Palm City
|
|
FL
|
|
Port St. Lucie, FL
|
|
1996
|
|
64,546
|
|
|
93.5
|
%
|
|
686
|
|
|
11.37
|
|
|
Publix
|
|
—
|
|
|
||
88
|
|
|
Martin Downs Village Center
|
|
Palm City
|
|
FL
|
|
Port St. Lucie, FL
|
|
1987
|
|
162,336
|
|
|
91.8
|
%
|
|
2,659
|
|
|
18.36
|
|
|
—
|
|
Coastal Care, Walgreens
|
|
|
||
89
|
|
|
23rd Street Station
|
|
Panama City
|
|
FL
|
|
Panama City, FL
|
|
1995
|
|
98,827
|
|
|
96.6
|
%
|
|
1,236
|
|
|
12.95
|
|
|
Publix
|
|
—
|
|
|
||
90
|
|
|
Panama City Square
|
|
Panama City
|
|
FL
|
|
Panama City, FL
|
|
1989
|
|
298,685
|
|
|
100.0
|
%
|
|
2,433
|
|
|
8.15
|
|
|
Walmart Supercenter
|
|
Big Lots, Harbor Freight Tools, HomeGoods, T.J.Maxx
|
|
|
||
91
|
|
|
Pensacola Square
|
|
Pensacola
|
|
FL
|
|
Pensacola-Ferry Pass-Brent, FL
|
|
1995
|
|
142,767
|
|
|
89.5
|
%
|
|
1,251
|
|
|
9.79
|
|
|
—
|
|
Bealls Outlet, Big Lots, Petland, Sears Home Appliance Showroom
|
|
Hobby Lobby
|
||
92
|
|
|
East Port Plaza
|
|
Port St. Lucie
|
|
FL
|
|
Port St. Lucie, FL
|
|
1991
|
|
162,831
|
|
|
86.0
|
%
|
|
1,971
|
|
|
14.07
|
|
|
Publix
|
|
Fortis Institute, Walgreens
|
|
|
||
93
|
|
|
Shoppes of Victoria Square
|
|
Port St. Lucie
|
|
FL
|
|
Port St. Lucie, FL
|
|
1990
|
|
95,186
|
|
|
93.4
|
%
|
|
1,122
|
|
|
12.62
|
|
|
Winn-Dixie (Southeastern Grocers)
|
|
Dollar Tree
|
|
|
||
94
|
|
|
Lake St. Charles
|
|
Riverview
|
|
FL
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
1999
|
|
57,016
|
|
|
95.4
|
%
|
|
632
|
|
|
11.62
|
|
|
Winn-Dixie (Southeastern Grocers)
|
|
—
|
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
Page
38
|
|
PROPERTY LIST
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Dollars in thousands, except per square foot amounts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
Year
|
|
|
|
Percent
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
Property Name
|
|
City
|
|
State
|
|
Metropolitan Statistical Area
|
|
Built
|
|
GLA
|
|
Leased
|
|
ABR
|
|
ABR PSF
|
|
Grocer (1)
|
|
Other Major Tenants
|
|
Non-Owned Major Tenants
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
95
|
|
|
Cobblestone Village
|
|
Royal Palm Beach
|
|
FL
|
|
Miami-Fort Lauderdale-West Palm Beach, FL
|
|
2005
|
|
39,404
|
|
|
93.9
|
%
|
|
690
|
|
|
18.65
|
|
|
SuperTarget*
|
|
The Zoo Health Club
|
|
|
||
96
|
|
|
Beneva Village Shoppes
|
|
Sarasota
|
FL
|
|
North Port-Sarasota-Bradenton, FL
|
|
1987
|
|
141,532
|
|
|
95.6
|
%
|
|
1,770
|
|
|
13.08
|
|
|
Publix
|
|
Harbor Freight Tools, Pet Supermarket, Walgreens
|
|
|
|||
97
|
|
|
Sarasota Village
|
|
Sarasota
|
|
FL
|
|
North Port-Sarasota-Bradenton, FL
|
|
1972
|
|
173,184
|
|
|
100.0
|
%
|
|
2,046
|
|
|
12.11
|
|
|
Publix
|
|
Big Lots, Crunch Fitness, HomeGoods
|
|
|
||
98
|
|
|
Atlantic Plaza
|
|
Satellite Beach
|
|
FL
|
|
Palm Bay-Melbourne-Titusville, FL
|
|
2008
|
|
130,845
|
|
|
73.2
|
%
|
|
1,261
|
|
|
13.17
|
|
|
Publix
|
|
—
|
|
|
||
99
|
|
|
Seminole Plaza
|
|
Seminole
|
|
FL
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
1964
|
|
156,579
|
|
|
96.5
|
%
|
|
1,246
|
|
|
8.25
|
|
|
—
|
|
Bealls Outlet, Burlington Stores, T.J.Maxx
|
|
|
||
100
|
|
|
Cobblestone Village
|
|
St. Augustine
|
|
FL
|
|
Jacksonville, FL
|
|
2003
|
|
265,464
|
|
|
94.3
|
%
|
|
3,482
|
|
|
13.91
|
|
|
Publix
|
|
Bealls, Bed Bath & Beyond, Michaels, Party City, Petco
|
|
|
||
101
|
|
|
Dolphin Village
|
|
St. Pete Beach
|
|
FL
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
1990
|
|
134,324
|
|
|
86.1
|
%
|
|
1,704
|
|
|
14.74
|
|
|
Publix
|
|
CVS, Dollar Tree
|
|
|
||
102
|
|
|
Bay Pointe Plaza
|
|
St. Petersburg
|
|
FL
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
2016
|
|
95,760
|
|
|
98.3
|
%
|
|
1,605
|
|
|
17.05
|
|
|
Publix
|
|
Bealls Outlet, Pet Supermarket
|
|
|
||
103
|
|
|
Rutland Plaza
|
|
St. Petersburg
|
|
FL
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
2002
|
|
149,562
|
|
|
95.9
|
%
|
|
1,256
|
|
|
8.75
|
|
|
Winn-Dixie (Southeastern Grocers)
|
|
Bealls Outlet, Big Lots
|
|
|
||
104
|
|
|
Skyway Plaza
|
|
St. Petersburg
|
|
FL
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
2002
|
|
110,799
|
|
|
79.1
|
%
|
|
740
|
|
|
8.45
|
|
|
—
|
|
Dollar Tree
|
|
|
||
105
|
|
|
Tyrone Gardens
|
|
St. Petersburg
|
|
FL
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
1998
|
|
209,337
|
|
|
78.6
|
%
|
|
1,596
|
|
|
9.71
|
|
|
Winn-Dixie (Southeastern Grocers)
|
|
Big Lots, Chuck E. Cheese’s
|
|
|
||
106
|
|
|
Downtown Publix
|
|
Stuart
|
|
FL
|
|
Port St. Lucie, FL
|
|
2000
|
|
151,246
|
|
|
65.9
|
%
|
|
1,240
|
|
|
12.44
|
|
|
Publix
|
|
Family Dollar, Flooring USA
|
|
|
||
107
|
|
|
Sunrise Town Center
|
|
Sunrise
|
|
FL
|
|
Miami-Fort Lauderdale-West Palm Beach, FL
|
|
1989
|
|
110,109
|
|
|
100.0
|
%
|
|
1,365
|
|
|
12.40
|
|
|
Patel Brothers
|
|
Dollar Tree, LA Fitness
|
|
Walmart
|
||
108
|
|
|
Carrollwood Center
|
|
Tampa
|
|
FL
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
2002
|
|
92,958
|
|
|
96.0
|
%
|
|
1,471
|
|
|
16.48
|
|
|
Publix
|
|
Rarehues
|
|
|
||
109
|
|
|
Ross Plaza
|
|
Tampa
|
|
FL
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
1996
|
|
90,625
|
|
|
95.9
|
%
|
|
1,268
|
|
|
14.59
|
|
|
—
|
|
Deal$, Ross Dress for Less, Lumber Liquidators
|
|
|
||
110
|
|
|
Tarpon Mall
|
|
Tarpon Springs
|
|
FL
|
|
Tampa-St. Petersburg-Clearwater, FL
|
|
2003
|
|
145,832
|
|
|
97.6
|
%
|
|
2,209
|
|
|
15.52
|
|
|
Publix
|
|
Petco, T.J.Maxx, Ulta
|
|
|
||
111
|
|
|
Venice Plaza
|
|
Venice
|
|
FL
|
|
North Port-Sarasota-Bradenton, FL
|
|
1999
|
|
132,345
|
|
|
99.0
|
%
|
|
952
|
|
|
7.27
|
|
|
Winn-Dixie (Southeastern Grocers)
|
|
Lumber Liquidators, Pet Supermarket, T.J.Maxx
|
|
|
||
112
|
|
|
Venice Shopping Center
|
|
Venice
|
|
FL
|
|
North Port-Sarasota-Bradenton, FL
|
|
2000
|
|
109,801
|
|
|
85.9
|
%
|
|
612
|
|
|
6.49
|
|
|
Publix
|
|
Bealls Outlet
|
|
|
||
113
|
|
|
Governors Towne Square
|
|
Acworth
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
2005
|
|
68,658
|
|
|
98.8
|
%
|
|
1,186
|
|
|
17.48
|
|
|
Publix
|
|
—
|
|
|
||
114
|
|
|
Albany Plaza
|
|
Albany
|
|
GA
|
|
Albany, GA
|
|
1995
|
|
114,169
|
|
|
75.1
|
%
|
|
571
|
|
|
6.66
|
|
|
Harveys (Southeastern Grocers)
|
|
Big Lots, OK Beauty & Fashions Outlet
|
|
|
||
115
|
|
|
Mansell Crossing
|
|
Alpharetta
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
1993
|
|
332,364
|
|
|
98.2
|
%
|
|
5,257
|
|
|
20.14
|
|
|
—
|
|
AMC Theatres, Barnes & Noble, DSW, Macy's Furniture Gallery, REI, T.J.Maxx, Ulta
|
|
Toys"R"Us
|
||
116
|
|
|
Perlis Plaza
|
|
Americus
|
|
GA
|
|
Americus, GA
|
|
1972
|
|
165,315
|
|
|
84.0
|
%
|
|
829
|
|
|
5.97
|
|
|
—
|
|
Belk, Roses
|
|
|
||
117
|
|
|
Northeast Plaza
|
|
Atlanta
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
1952
|
|
445,042
|
|
|
86.8
|
%
|
|
4,317
|
|
|
11.42
|
|
|
City Farmers Market
|
|
dd's Discounts (Ross)
|
|
|
||
118
|
|
|
Augusta West Plaza
|
|
Augusta
|
|
GA
|
|
Augusta-Richmond County, GA-SC
|
|
2006
|
|
207,823
|
|
|
68.3
|
%
|
|
1,090
|
|
|
7.68
|
|
|
—
|
|
Burlington Stores, Dollar Tree
|
|
|
||
119
|
|
|
Sweetwater Village
|
|
Austell
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
1985
|
|
66,197
|
|
|
97.8
|
%
|
|
515
|
|
|
7.95
|
|
|
Food Depot
|
|
Family Dollar
|
|
|
||
120
|
|
|
Vineyards at Chateau Elan
|
|
Braselton
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
2002
|
|
79,047
|
|
|
92.0
|
%
|
|
1,037
|
|
|
14.26
|
|
|
Publix
|
|
—
|
|
|
||
121
|
|
|
Cedar Plaza
|
|
Cedartown
|
|
GA
|
|
Cedartown, GA
|
|
1994
|
|
83,300
|
|
|
76.5
|
%
|
|
550
|
|
|
8.63
|
|
|
Kroger
|
|
—
|
|
|
||
122
|
|
|
Conyers Plaza
|
|
Conyers
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
2001
|
|
171,374
|
|
|
94.3
|
%
|
|
2,023
|
|
|
12.52
|
|
|
Walmart Supercenter*
|
|
Jo-Ann Fabric & Craft Stores, Mattress Firm, PetSmart, Value Village
|
|
The Home Depot
|
||
123
|
|
|
Cordele Square
|
|
Cordele
|
|
GA
|
|
Cordele, GA
|
|
2002
|
|
127,953
|
|
|
87.3
|
%
|
|
755
|
|
|
6.76
|
|
|
Harveys (Southeastern Grocers)
|
|
Belk, Citi Trends, Cordele Theatres
|
|
|
||
124
|
|
|
Covington Gallery
|
|
Covington
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
1991
|
|
174,857
|
|
|
94.3
|
%
|
|
1,092
|
|
|
6.62
|
|
|
Ingles
|
|
Kmart
|
|
|
||
125
|
|
|
Salem Road Station
|
|
Covington
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
2000
|
|
67,270
|
|
|
92.6
|
%
|
|
739
|
|
|
11.87
|
|
|
Publix
|
|
—
|
|
|
||
126
|
|
|
Keith Bridge Commons
|
|
Cumming
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
2002
|
|
94,886
|
|
|
79.9
|
%
|
|
990
|
|
|
13.06
|
|
|
Kroger
|
|
—
|
|
|
||
127
|
|
|
Northside
|
|
Dalton
|
|
GA
|
|
Dalton, GA
|
|
2001
|
|
73,931
|
|
|
95.1
|
%
|
|
578
|
|
|
8.22
|
|
|
Food City
|
|
Family Dollar
|
|
|
||
128
|
|
|
Cosby Station
|
|
Douglasville
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
1994
|
|
77,811
|
|
|
90.8
|
%
|
|
779
|
|
|
11.03
|
|
|
Publix
|
|
—
|
|
|
||
129
|
|
|
Park Plaza
|
|
Douglasville
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
1986
|
|
46,670
|
|
|
88.8
|
%
|
|
694
|
|
|
16.83
|
|
|
Kroger*
|
|
—
|
|
|
||
130
|
|
|
Dublin Village
|
|
Dublin
|
|
GA
|
|
Dublin, GA
|
|
2005
|
|
94,920
|
|
|
93.1
|
%
|
|
665
|
|
|
7.53
|
|
|
Kroger
|
|
—
|
|
|
||
131
|
|
|
Westgate
|
|
Dublin
|
|
GA
|
|
Dublin, GA
|
|
2004
|
|
110,738
|
|
|
96.0
|
%
|
|
679
|
|
|
6.62
|
|
|
Harveys (Southeastern Grocers)
|
|
Bealls Outlet, Big Lots
|
|
The Home Depot
|
||
132
|
|
|
Venture Pointe
|
|
Duluth
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
1995
|
|
155,172
|
|
|
100.0
|
%
|
|
1,564
|
|
|
10.08
|
|
|
—
|
|
American Signature Furniture, Ollie's Bargain Outlet, Studio Movie Grill
|
|
|
||
133
|
|
|
Banks Station
|
|
Fayetteville
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
2006
|
|
176,451
|
|
|
79.4
|
%
|
|
1,033
|
|
|
8.63
|
|
|
Food Depot
|
|
Cinemark, Staples
|
|
|
||
134
|
|
|
Barrett Place
|
|
Kennesaw
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
1992
|
|
218,818
|
|
|
100.0
|
%
|
|
2,385
|
|
|
10.90
|
|
|
ALDI
|
|
Best Buy, Michaels, OfficeMax, PetSmart, The Furniture Mall
|
|
|
||
135
|
|
|
Shops of Huntcrest
|
|
Lawrenceville
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
2003
|
|
97,040
|
|
|
97.9
|
%
|
|
1,307
|
|
|
13.75
|
|
|
Publix
|
|
—
|
|
|
||
136
|
|
|
Mableton Walk
|
|
Mableton
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
1994
|
|
105,884
|
|
|
86.6
|
%
|
|
1,218
|
|
|
13.29
|
|
|
Publix
|
|
—
|
|
|
||
137
|
|
|
The Village at Mableton
|
|
Mableton
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
1959
|
|
239,013
|
|
|
90.1
|
%
|
|
1,087
|
|
|
5.05
|
|
|
—
|
|
Dollar Tree, Kmart, Ollie's Bargain Outlet, Planet Fitness
|
|
|
||
138
|
|
|
Marshalls at Eastlake
|
|
Marietta
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
1982
|
|
54,976
|
|
|
100.0
|
%
|
|
556
|
|
|
10.11
|
|
|
—
|
|
Marshalls
|
|
|
||
139
|
|
|
New Chastain Corners
|
|
Marietta
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
2004
|
|
113,079
|
|
|
86.8
|
%
|
|
987
|
|
|
10.06
|
|
|
Kroger
|
|
—
|
|
|
||
140
|
|
|
Pavilions at Eastlake
|
|
Marietta
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
1996
|
|
154,224
|
|
|
89.8
|
%
|
|
1,818
|
|
|
13.12
|
|
|
Kroger
|
|
J. Christopher's
|
|
|
||
141
|
|
|
Creekwood Village
|
|
Rex
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
1990
|
|
69,778
|
|
|
91.0
|
%
|
|
528
|
|
|
8.32
|
|
|
Food Depot
|
|
—
|
|
|
||
142
|
|
|
Shops of Riverdale
|
|
Riverdale
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
1995
|
|
16,808
|
|
|
82.2
|
%
|
|
268
|
|
|
19.41
|
|
|
Walmart Supercenter*
|
|
—
|
|
|
||
143
|
|
|
Holcomb Bridge Crossing
|
|
Roswell
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
1988
|
|
105,420
|
|
|
97.4
|
%
|
|
1,009
|
|
|
9.82
|
|
|
—
|
|
PGA TOUR Superstore
|
|
|
||
144
|
|
|
Victory Square
|
|
Savannah
|
|
GA
|
|
Savannah, GA
|
|
2007
|
|
122,739
|
|
|
95.4
|
%
|
|
1,752
|
|
|
15.32
|
|
|
SuperTarget*
|
|
Citi Trends, Dollar Tree, Frank Theatres, Staples
|
|
The Home Depot
|
||
145
|
|
|
Stockbridge Village
|
|
Stockbridge
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
2008
|
|
188,135
|
|
|
98.4
|
%
|
|
2,884
|
|
|
15.58
|
|
|
Kroger
|
|
—
|
|
|
||
146
|
|
|
Stone Mountain Festival
|
|
Stone Mountain
|
|
GA
|
|
Atlanta-Sandy Springs-Roswell, GA
|
|
2006
|
|
347,091
|
|
|
98.3
|
%
|
|
1,756
|
|
|
5.14
|
|
|
Walmart Supercenter
|
|
Hobby Lobby, NCG Cinemas
|
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
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 PSF
|
|
Grocer (1)
|
|
Other Major Tenants
|
|
Non-Owned Major Tenants
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
147
|
|
|
Wilmington Island
|
|
Wilmington Island
|
|
GA
|
|
Savannah, GA
|
|
1985
|
|
101,462
|
|
|
92.0
|
%
|
|
962
|
|
|
10.30
|
|
|
Kroger
|
|
—
|
|
|
||
148
|
|
|
Kimberly West Shopping Center
|
|
Davenport
|
|
IA
|
|
Davenport-Moline-Rock Island, IA-IL
|
|
1987
|
|
113,713
|
|
|
90.1
|
%
|
|
644
|
|
|
6.29
|
|
|
Hy-Vee
|
|
—
|
|
|
||
149
|
|
|
Haymarket Mall
|
|
Des Moines
|
|
IA
|
|
Des Moines-West Des Moines, IA
|
|
1979
|
|
243,680
|
|
|
98.0
|
%
|
|
1,413
|
|
|
6.04
|
|
|
—
|
|
Burlington Stores, Harbor Freight Tools, Hobby Lobby
|
|
|
||
150
|
|
|
Haymarket Square
|
|
Des Moines
|
|
IA
|
|
Des Moines-West Des Moines, IA
|
|
1979
|
|
269,705
|
|
|
90.5
|
%
|
|
1,431
|
|
|
5.86
|
|
|
Price Chopper
|
|
Aspen Athletic Clubs, Big Lots, Northern Tool + Equipment, Office Depot
|
|
|
||
151
|
|
|
Warren Plaza
|
|
Dubuque
|
|
IA
|
|
Dubuque, IA
|
|
1993
|
|
96,310
|
|
|
93.4
|
%
|
|
748
|
|
|
8.80
|
|
|
Hy-Vee
|
|
—
|
|
Target
|
||
152
|
|
|
Annex of Arlington
|
|
Arlington Heights
|
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
1999
|
|
199,463
|
|
|
83.0
|
%
|
|
3,089
|
|
|
18.66
|
|
|
Trader Joe's
|
|
Binny's Beverage Depot, Chuck E. Cheese's, Kirkland's, Petco, Ulta
|
|
|
||
153
|
|
|
Ridge Plaza
|
|
Arlington Heights
|
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
2000
|
|
151,643
|
|
|
96.1
|
%
|
|
2,133
|
|
|
14.64
|
|
|
—
|
|
Savers, XSport Fitness
|
|
Kohl's
|
||
154
|
|
|
Bartonville Square
|
|
Bartonville
|
|
IL
|
|
Peoria, IL
|
|
2001
|
|
61,678
|
|
|
95.2
|
%
|
|
323
|
|
|
5.84
|
|
|
Kroger
|
|
—
|
|
|
||
155
|
|
|
Festival Center
|
|
Bradley
|
|
IL
|
|
Kankakee, IL
|
|
2006
|
|
63,796
|
|
|
100.0
|
%
|
|
437
|
|
|
6.85
|
|
|
—
|
|
Big Lots, Dollar General
|
|
|
||
156
|
|
|
Southfield Plaza
|
|
Bridgeview
|
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
2006
|
|
198,298
|
|
|
91.1
|
%
|
|
1,972
|
|
|
10.92
|
|
|
Shop & Save Market
|
|
Hobby Lobby, Walgreens
|
|
|
||
157
|
|
|
Commons of Chicago Ridge
|
|
Chicago Ridge
|
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
1998
|
|
324,977
|
|
|
93.9
|
%
|
|
4,257
|
|
|
15.05
|
|
|
—
|
|
Marshalls, Office Depot, The Home Depot, Ross Dress for Less, XSport Fitness
|
|
|
||
158
|
|
|
Rivercrest Shopping Center
|
|
Crestwood
|
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
1992
|
|
548,531
|
|
|
94.2
|
%
|
|
6,268
|
|
|
13.19
|
|
|
—
|
|
AMC, Best Buy, Five Below, Party City, PetSmart, Ross Dress for Less, T.J.Maxx
|
|
|
||
159
|
|
|
The Commons of Crystal Lake
|
|
Crystal Lake
|
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
1987
|
|
273,060
|
|
|
86.3
|
%
|
|
2,355
|
|
|
9.99
|
|
|
Jewel-Osco (Albertsons)
|
|
Burlington Stores
|
|
Hobby Lobby
|
||
160
|
|
|
Elk Grove Town Center
|
|
Elk Grove Village
|
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
1998
|
|
131,794
|
|
|
88.5
|
%
|
|
1,898
|
|
|
16.28
|
|
|
—
|
|
Walgreens
|
|
|
||
161
|
|
|
Crossroads Centre
|
|
Fairview Heights
|
|
IL
|
|
St. Louis, MO-IL
|
|
1975
|
|
242,752
|
|
|
89.5
|
%
|
|
1,874
|
|
|
8.62
|
|
|
Ruler Foods (Kroger)
|
|
Big Lots, Plato's Closet, Sky Zone, T.J.Maxx
|
|
|
||
162
|
|
|
Frankfort Crossing Shopping Center
|
|
Frankfort
|
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
1992
|
|
114,534
|
|
|
93.3
|
%
|
|
1,385
|
|
|
12.96
|
|
|
Jewel-Osco (Albertsons)
|
|
Ace Hardware
|
|
|
||
163
|
|
|
Freeport Plaza
|
Freeport
|
|
IL
|
|
Freeport, IL
|
|
2000
|
|
87,846
|
|
|
88.3
|
%
|
|
503
|
|
|
6.49
|
|
|
Cub Foods (Supervalu)
|
|
—
|
|
|
|||
164
|
|
|
Westview Center
|
|
Hanover Park
|
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
1989
|
|
326,422
|
|
|
89.2
|
%
|
|
2,691
|
|
|
9.57
|
|
|
Tony's Finer Foods
|
|
Big Lots, LA Fitness, Sears Outlet
|
|
Value City
|
||
165
|
|
|
The Quentin Collection
|
|
Kildeer
|
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
2006
|
|
171,530
|
|
|
88.6
|
%
|
|
2,433
|
|
|
16.00
|
|
|
—
|
|
Best Buy, PetSmart, Stein Mart
|
|
|
||
166
|
|
|
Butterfield Square
|
|
Libertyville
|
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
1997
|
|
106,755
|
|
|
95.9
|
%
|
|
1,541
|
|
|
15.05
|
|
|
Sunset Foods
|
|
—
|
|
|
||
167
|
|
|
High Point Centre (2)
|
|
Lombard
|
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
2017
|
|
240,097
|
|
|
70.2
|
%
|
|
1,874
|
|
|
11.12
|
|
|
—
|
|
David's Bridal, Jo-Ann Fabric & Craft Stores, LA Fitness, Office Depot
|
|
|
||
168
|
|
|
Long Meadow Commons
|
|
Mundelein
|
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
1997
|
|
118,470
|
|
|
84.9
|
%
|
|
1,587
|
|
|
16.74
|
|
|
Jewel-Osco
|
|
—
|
|
|
||
169
|
|
|
Westridge Court
|
|
Naperville
|
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
1992
|
|
680,553
|
|
|
74.8
|
%
|
|
6,798
|
|
|
13.90
|
|
|
—
|
|
Art Van Furniture, Big Lots, buybuy BABY, Marshalls, Old Navy, Party City, Star Cinema Grill, Turk Furniture, Ulta
|
|
|
||
170
|
|
|
Sterling Bazaar
|
|
Peoria
|
|
IL
|
|
Peoria, IL
|
|
1992
|
|
87,359
|
|
|
93.4
|
%
|
|
771
|
|
|
9.67
|
|
|
Kroger
|
|
—
|
|
|
||
171
|
|
|
Rollins Crossing
|
|
Round Lake Beach
|
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
1998
|
|
192,849
|
|
|
96.3
|
%
|
|
1,984
|
|
|
17.55
|
|
|
—
|
|
LA Fitness, Regal Cinemas
|
|
|
||
172
|
|
|
Twin Oaks Shopping Center
|
|
Silvis
|
IL
|
|
Davenport-Moline-Rock Island, IA-IL
|
|
1991
|
|
114,342
|
|
|
97.6
|
%
|
|
750
|
|
|
6.72
|
|
|
Hy-Vee
|
|
Eye Surgeons Associates
|
|
|
|||
173
|
|
|
Parkway Pointe
|
|
Springfield
|
|
IL
|
|
Springfield, IL
|
|
1994
|
|
38,737
|
|
|
85.9
|
%
|
|
583
|
|
|
17.51
|
|
|
ALDI*
|
|
dressbarn, Family Christian Stores, Shoe Carnival
|
|
Target, Walmart
|
||
174
|
|
|
Sangamon Center North
|
|
Springfield
|
|
IL
|
|
Springfield, IL
|
|
1996
|
|
139,757
|
|
|
96.4
|
%
|
|
1,325
|
|
|
9.83
|
|
|
Schnucks
|
|
U.S. Post Office
|
|
|
||
175
|
|
|
Tinley Park Plaza
|
|
Tinley Park
|
|
IL
|
|
Chicago-Naperville-Elgin, IL-IN-WI
|
|
1973
|
|
248,077
|
|
|
69.2
|
%
|
|
2,105
|
|
|
12.26
|
|
|
Walt's Fine Foods
|
|
Planet Fitness, Tile Shop
|
|
|
||
176
|
|
|
Meridian Village
|
|
Carmel
|
|
IN
|
|
Indianapolis-Carmel-Anderson, IN
|
|
1990
|
|
130,769
|
|
|
78.1
|
%
|
|
873
|
|
|
8.55
|
|
|
—
|
|
Dollar Tree, Godby Home Furnishings, Ollie's Bargain Outlet
|
|
|
||
177
|
|
|
Columbus Center
|
|
Columbus
|
|
IN
|
|
Columbus, IN
|
|
1964
|
|
143,043
|
|
|
100.0
|
%
|
|
1,687
|
|
|
11.79
|
|
|
—
|
|
Big Lots, OfficeMax, T.J.Maxx, ULTA
|
|
Target
|
||
178
|
|
|
Elkhart Plaza West
|
|
Elkhart
|
|
IN
|
|
Elkhart-Goshen, IN
|
|
1997
|
|
81,651
|
|
|
85.8
|
%
|
|
527
|
|
|
37.19
|
|
|
Martin's Super Market
|
|
CVS
|
|
|
||
179
|
|
|
Apple Glen Crossing
|
|
Fort Wayne
|
|
IN
|
|
Fort Wayne, IN
|
|
2002
|
|
150,163
|
|
|
91.2
|
%
|
|
1,871
|
|
|
17.44
|
|
|
Walmart Supercenter*
|
|
Best Buy, Dick's Sporting Goods, PetSmart
|
|
Kohl's
|
||
180
|
|
|
Market Centre
|
|
Goshen
|
|
IN
|
|
Elkhart-Goshen, IN
|
|
1994
|
|
247,668
|
|
|
87.7
|
%
|
|
1,731
|
|
|
16.04
|
|
|
Sam's Club, Walmart Supercenter*
|
|
—
|
|
|
||
181
|
|
|
Marwood Plaza
|
|
Indianapolis
|
|
IN
|
|
Indianapolis-Carmel-Anderson, IN
|
|
1992
|
|
107,080
|
|
|
84.1
|
%
|
|
766
|
|
|
8.50
|
|
|
Kroger
|
|
—
|
|
|
||
182
|
|
|
Westlane Shopping Center
|
|
Indianapolis
|
|
IN
|
|
Indianapolis-Carmel-Anderson, IN
|
|
1968
|
|
71,602
|
|
|
100.0
|
%
|
|
657
|
|
|
9.18
|
|
|
Save-A-Lot
|
|
Citi Trends
|
|
|
||
183
|
|
|
Valley View Plaza
|
|
Marion
|
|
IN
|
|
Marion, IN
|
|
1997
|
|
29,974
|
|
|
85.0
|
%
|
|
357
|
|
|
14.01
|
|
|
Walmart Supercenter*
|
|
Aaron's
|
|
|
||
184
|
|
|
Bittersweet Plaza
|
|
Mishawaka
|
|
IN
|
|
South Bend-Mishawaka, IN-MI
|
|
2000
|
|
92,295
|
|
|
90.4
|
%
|
|
731
|
|
|
8.81
|
|
|
Martin's Super Market
|
|
—
|
|
|
||
185
|
|
|
Lincoln Plaza
|
|
New Haven
|
|
IN
|
|
Fort Wayne, IN
|
|
1968
|
|
103,788
|
|
|
71.5
|
%
|
|
565
|
|
|
7.62
|
|
|
Kroger
|
|
Go Workout
|
|
|
||
186
|
|
|
Speedway Super Center
|
|
Speedway
|
|
IN
|
|
Indianapolis-Carmel-Anderson, IN
|
|
1960
|
|
566,517
|
|
|
88.4
|
%
|
|
4,613
|
|
|
9.26
|
|
|
Kroger
|
|
Burlington Stores, Kohl's, Oak Street Health Center, Petco, Sears Outlet, T.J.Maxx
|
|
|
||
187
|
|
|
Sagamore Park Centre (2)
|
|
West Lafayette
|
|
IN
|
|
Lafayette-West Lafayette, IN
|
|
2017
|
|
134,139
|
|
|
98.2
|
%
|
|
1,251
|
|
|
9.65
|
|
|
Pay Less (Kroger)
|
|
—
|
|
|
||
188
|
|
|
Westchester Square
|
|
Lenexa
|
|
KS
|
|
Kansas City, MO-KS
|
|
1987
|
|
154,978
|
|
|
90.0
|
%
|
|
1,345
|
|
|
9.65
|
|
|
Hy-Vee
|
|
—
|
|
|
||
189
|
|
|
West Loop Shopping Center
|
|
Manhattan
|
|
KS
|
|
Manhattan, KS
|
|
2013
|
|
215,261
|
|
|
95.8
|
%
|
|
1,818
|
|
|
14.09
|
|
|
Dillons (Kroger)
|
|
Bellus Academy, Jo-Ann Fabric & Craft Stores, Marshalls
|
|
|
||
190
|
|
|
Green River Plaza
|
|
Campbellsville
|
|
KY
|
|
Campbellsville, KY
|
|
1989
|
|
198,315
|
|
|
99.0
|
%
|
|
1,424
|
|
|
7.25
|
|
|
Kroger
|
|
Burke's Outlet, Goody’s, JC Penney, Jo-Ann Fabric & Craft Stores, Tractor Supply Co.
|
|
|
||
191
|
|
|
North Dixie Plaza
|
|
Elizabethtown
|
|
KY
|
|
Elizabethtown-Fort Knox, KY
|
|
1992
|
|
130,466
|
|
|
100.0
|
%
|
|
1,052
|
|
|
8.06
|
|
|
—
|
|
At Home
|
|
|
||
192
|
|
|
Florence Plaza - Florence Square
|
|
Florence
|
|
KY
|
|
Cincinnati, OH-KY-IN
|
|
2014
|
|
686,526
|
|
|
90.8
|
%
|
|
6,826
|
|
|
14.06
|
|
|
Kroger
|
|
Barnes & Noble, Burlington Stores, David's Bridal, Harbor Freight Tools, Hobby Lobby, Old Navy, Ollie's Bargain Outlet, Staples, T.J.Maxx
|
|
|
||
193
|
|
|
Highland Commons
|
|
Glasgow
|
|
KY
|
|
Glasgow, KY
|
|
1992
|
|
130,466
|
|
|
100.0
|
%
|
|
780
|
|
|
5.98
|
|
|
Food Lion (Delhaize)
|
|
Kmart
|
|
|
||
194
|
|
|
Jeffersontown Commons
|
|
Jeffersontown
|
|
KY
|
|
Louisville/Jefferson County, KY-IN
|
|
1959
|
|
208,374
|
|
|
94.8
|
%
|
|
1,780
|
|
|
9.50
|
|
|
—
|
|
King Pin Lanes, Louisville Athletic Club, Savers
|
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
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 PSF
|
|
Grocer (1)
|
|
Other Major Tenants
|
|
Non-Owned Major Tenants
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
195
|
|
|
Mist Lake Plaza
|
|
Lexington
|
|
KY
|
|
Lexington-Fayette, KY
|
|
1993
|
|
217,292
|
|
|
100.0
|
%
|
|
1,590
|
|
|
7.32
|
|
|
—
|
|
Gabriel Brothers, Walmart
|
|
|
||
196
|
|
|
London Marketplace
|
|
London
|
|
KY
|
|
London, KY
|
|
1994
|
|
169,032
|
|
|
99.1
|
%
|
|
1,118
|
|
|
6.68
|
|
|
Kroger
|
|
Goody's
|
|
|
||
197
|
|
|
Eastgate Shopping Center
|
|
Louisville
|
|
KY
|
|
Louisville/Jefferson County, KY-IN
|
|
2002
|
|
174,947
|
|
|
100.0
|
%
|
|
1,956
|
|
|
11.18
|
|
|
Kroger
|
|
Petco
|
|
|
||
198
|
|
|
Plainview Village
|
|
Louisville
|
|
KY
|
|
Louisville/Jefferson County, KY-IN
|
|
1997
|
|
165,467
|
|
|
90.6
|
%
|
|
1,483
|
|
|
10.47
|
|
|
Kroger
|
|
Annie's Attic, Tuesday Morning
|
|
|
||
199
|
|
|
Stony Brook I & II
|
|
Louisville
|
|
KY
|
|
Louisville/Jefferson County, KY-IN
|
|
1988
|
|
158,940
|
|
|
99.4
|
%
|
|
1,911
|
|
|
12.10
|
|
|
Kroger Marketplace
|
|
—
|
|
|
||
200
|
|
|
Towne Square North
|
|
Owensboro
|
|
KY
|
|
Owensboro, KY
|
|
1988
|
|
163,161
|
|
|
100.0
|
%
|
|
1,319
|
|
|
8.08
|
|
|
—
|
|
Books-A-Million, Hobby Lobby, Office Depot
|
|
|
||
201
|
|
|
Lexington Road Plaza
|
|
Versailles
|
|
KY
|
|
Lexington-Fayette, KY
|
|
2007
|
|
197,668
|
|
|
100.0
|
%
|
|
1,339
|
|
|
6.77
|
|
|
—
|
|
Kmart
|
|
|
||
202
|
|
|
Karam Shopping Center
|
|
Lafayette
|
|
LA
|
|
Lafayette, LA
|
|
1970
|
|
100,120
|
|
|
88.4
|
%
|
|
313
|
|
|
3.54
|
|
|
Super 1 Foods
|
|
dd's Discounts (Ross)
|
|
|
||
203
|
|
|
Iberia Plaza
|
|
New Iberia
|
|
LA
|
|
Lafayette, LA
|
|
1992
|
|
131,731
|
|
|
99.0
|
%
|
|
888
|
|
|
6.81
|
|
|
Super 1 Foods
|
|
—
|
|
|
||
204
|
|
|
Lagniappe Village
|
|
New Iberia
|
|
LA
|
|
Lafayette, LA
|
|
2010
|
|
201,360
|
|
|
90.5
|
%
|
|
1,556
|
|
|
8.54
|
|
|
—
|
|
Big Lots, Citi Trends, Stage, T.J.Maxx
|
|
|
||
205
|
|
|
The Pines Shopping Center
|
|
Pineville
|
|
LA
|
|
Alexandria, LA
|
|
1991
|
|
179,039
|
|
|
97.8
|
%
|
|
1,029
|
|
|
6.09
|
|
|
Super 1 Foods
|
|
—
|
|
|
||
206
|
|
|
Points West Plaza
|
|
Brockton
|
|
MA
|
|
Boston-Cambridge-Newton, MA-NH
|
|
1960
|
|
130,635
|
|
|
98.9
|
%
|
|
1,034
|
|
|
8.01
|
|
|
PriceRite (Wakefern)
|
|
Citi Trends, L&M Bargain, Ocean State Job Lot
|
|
|
||
207
|
|
|
Burlington Square I, II & III
|
|
Burlington
|
|
MA
|
|
Boston-Cambridge-Newton, MA-NH
|
|
1992
|
|
74,800
|
|
|
100.0
|
%
|
|
2,060
|
|
|
27.54
|
|
|
—
|
|
Golf Galaxy, Pyara Aveda Spa & Salon, Staples
|
|
Duluth Trading Co.
|
||
208
|
|
|
Chicopee Marketplace
|
|
Chicopee
|
|
MA
|
|
Springfield, MA
|
|
2005
|
|
151,003
|
|
|
100.0
|
%
|
|
2,783
|
|
|
19.09
|
|
|
Walmart Supercenter*
|
|
Marshalls, Party City, Staples
|
|
|
||
209
|
|
|
Holyoke Shopping Center
|
|
Holyoke
|
|
MA
|
|
Springfield, MA
|
|
2000
|
|
195,995
|
|
|
94.6
|
%
|
|
1,505
|
|
|
11.87
|
|
|
Super Stop & Shop (Ahold)
|
|
Jo-Ann Fabric & Craft Stores, Ocean State Job Lot
|
|
|
||
210
|
|
|
WaterTower Plaza
|
|
Leominster
|
|
MA
|
|
Worcester, MA-CT
|
|
2000
|
|
282,591
|
|
|
89.9
|
%
|
|
2,881
|
|
|
11.34
|
|
|
Shaw's (Albertsons)
|
|
Barnes & Noble, Michaels, Petco, Staples, T.J.Maxx
|
|
|
||
211
|
|
|
Lunenberg Crossing
|
|
Lunenburg
|
|
MA
|
|
Worcester, MA-CT
|
|
1994
|
|
25,515
|
|
|
66.7
|
%
|
|
266
|
|
|
15.63
|
|
|
Hannaford Bros. (Delhaize)*
|
|
—
|
|
Walmart
|
||
212
|
|
|
Lynn Marketplace
|
|
Lynn
|
|
MA
|
|
Boston-Cambridge-Newton, MA-NH
|
|
1968
|
|
78,046
|
|
|
100.0
|
%
|
|
1,315
|
|
|
16.85
|
|
|
Shaw's (Albertsons)
|
|
Rainbow
|
|
|
||
213
|
|
|
Webster Square Shopping Center
|
|
Marshfield
|
|
MA
|
|
Boston-Cambridge-Newton, MA-NH
|
|
2005
|
|
182,734
|
|
|
98.7
|
%
|
|
2,274
|
|
|
12.61
|
|
|
Star Market (Albertsons)
|
|
Marshalls, Ocean State Job Lot
|
|
|
||
214
|
|
|
Berkshire Crossing
|
|
Pittsfield
|
|
MA
|
|
Pittsfield, MA
|
|
1994
|
|
442,354
|
|
|
97.7
|
%
|
|
3,920
|
|
|
20.80
|
|
|
Market 32
|
|
Barnes & Noble, Michaels, Staples, The Home Depot, Ulta, Walmart
|
|
|
||
215
|
|
|
Westgate Plaza
|
|
Westfield
|
|
MA
|
|
Springfield, MA
|
|
1996
|
|
103,903
|
|
|
98.7
|
%
|
|
1,209
|
|
|
12.14
|
|
|
—
|
|
Ocean State Job Lot, Staples, T.J.Maxx
|
|
|
||
216
|
|
|
Perkins Farm Marketplace
|
|
Worcester
|
|
MA
|
|
Worcester, MA-CT
|
|
1967
|
|
207,538
|
|
|
79.1
|
%
|
|
2,072
|
|
|
22.15
|
|
|
Super Stop & Shop (Ahold)
|
|
Citi Trends, Fallas Paredes
|
|
|
||
217
|
|
|
South Plaza Shopping Center
|
|
California
|
|
MD
|
|
California-Lexington Park, MD
|
|
2005
|
|
92,335
|
|
|
100.0
|
%
|
|
1,809
|
|
|
19.59
|
|
|
—
|
|
Best Buy, Old Navy, Petco, Ross Dress for Less
|
|
|
||
218
|
|
|
Campus Village Shoppes
|
|
College Park
|
|
MD
|
|
Washington-Arlington-Alexandria, DC-VA-MD-WV
|
|
1986
|
|
25,529
|
|
|
100.0
|
%
|
|
743
|
|
|
29.10
|
|
|
—
|
|
—
|
|
|
||
219
|
|
|
Fox Run
|
|
Prince Frederick
|
|
MD
|
|
Washington-Arlington-Alexandria, DC-VA-MD-WV
|
1997
|
|
292,849
|
|
|
97.8
|
%
|
|
3,002
|
|
|
10.48
|
|
|
Giant Food (Ahold)
|
|
Jo-Ann Fabric & Craft Stores, Kmart, Peebles
|
|
|
|||
220
|
|
|
Liberty Plaza
|
|
Randallstown
|
|
MD
|
|
Baltimore-Columbia-Towson, MD
|
1962
|
|
57,954
|
|
|
100.0
|
%
|
|
951
|
|
|
16.41
|
|
|
Walmart Supercenter*
|
|
Marshalls
|
|
|
|||
221
|
|
|
Rising Sun Towne Centre
|
|
Rising Sun
|
|
MD
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
|
1998
|
|
146,852
|
|
|
100.0
|
%
|
|
1,806
|
|
|
12.59
|
|
|
Martin's Food (Ahold)
|
|
Big Lots
|
|
|
||
222
|
|
|
Pine Tree Shopping Center
|
|
Portland
|
|
ME
|
|
Portland-South Portland, ME
|
1958
|
|
287,513
|
|
|
91.1
|
%
|
|
1,927
|
|
|
20.61
|
|
|
—
|
|
Big Lots, Dollar Tree, Jo-Ann Fabric & Craft Stores, Lowe's
|
|
|
|||
223
|
|
|
Arborland Center
|
|
Ann Arbor
|
|
MI
|
|
Ann Arbor, MI
|
|
2000
|
|
403,536
|
|
|
96.4
|
%
|
|
6,215
|
|
|
16.20
|
|
|
Kroger
|
|
Bed Bath & Beyond, DSW, Marshalls, Michaels, Nordstrom Rack, Ulta
|
|
|
||
224
|
|
|
Maple Village (2)
|
|
Ann Arbor
|
|
MI
|
|
Ann Arbor, MI
|
|
2017
|
|
287,387
|
|
|
79.9
|
%
|
|
2,993
|
|
|
13.04
|
|
|
Plum Market
|
|
Dunham's Sports, HomeGoods, LA Fitness, Sierra Trading Post, Stein Mart
|
|
|
||
225
|
|
|
Grand Crossing
|
|
Brighton
|
|
MI
|
|
Detroit-Warren-Dearborn, MI
|
|
2005
|
|
85,389
|
|
|
100.0
|
%
|
|
902
|
|
|
10.56
|
|
|
Busch’s Fresh Food Market
|
|
ACE Hardware
|
|
|
||
226
|
|
|
Farmington Crossroads
|
|
Farmington
|
|
MI
|
|
Detroit-Warren-Dearborn, MI
|
|
1986
|
|
79,068
|
|
|
100.0
|
%
|
|
809
|
|
|
10.23
|
|
|
—
|
|
Dollar Tree, Ollie's Bargain Outlet, True Value
|
|
|
||
227
|
|
|
Silver Pointe Shopping Center
|
|
Fenton
|
|
MI
|
|
Flint, MI
|
|
1996
|
|
162,059
|
|
|
86.4
|
%
|
|
1,783
|
|
|
12.84
|
|
|
VG's Food (SpartanNash)
|
|
Dunham's Sports, Glik's
|
|
|
||
228
|
|
|
Cascade East
|
|
Grand Rapids
|
|
MI
|
|
Grand Rapids-Wyoming, MI
|
|
1983
|
|
99,529
|
|
|
79.8
|
%
|
|
601
|
|
|
7.56
|
|
|
D&W Fresh Market (SpartanNash)
|
|
—
|
|
|
||
229
|
|
|
Delta Center
|
|
Lansing
|
|
MI
|
|
Lansing-East Lansing, MI
|
|
1985
|
|
186,246
|
|
|
96.1
|
%
|
|
1,517
|
|
|
8.48
|
|
|
—
|
|
Bed Bath & Beyond, DXL Destination XL, Hobby Lobby, Planet Fitness
|
|
|
||
230
|
|
|
Lakes Crossing
|
|
Muskegon
|
|
MI
|
|
Muskegon, MI
|
|
2008
|
|
110,997
|
|
|
84.9
|
%
|
|
1,434
|
|
|
16.64
|
|
|
—
|
|
Jo-Ann Fabric & Craft Stores, Party City, Shoe Carnival, Ulta
|
|
Kohl's
|
||
231
|
|
|
Redford Plaza
|
|
Redford
|
|
MI
|
|
Detroit-Warren-Dearborn, MI
|
|
1992
|
|
285,324
|
|
|
74.9
|
%
|
|
2,396
|
|
|
11.21
|
|
|
—
|
|
Ace Hardware, Burlington Stores, CW Price, Dollar Tree
|
|
|
||
232
|
|
|
Hampton Village Centre
|
|
Rochester Hills
|
|
MI
|
|
Detroit-Warren-Dearborn, MI
|
|
2004
|
|
470,137
|
|
|
95.0
|
%
|
|
5,886
|
|
|
17.34
|
|
|
—
|
|
Best Buy, DSW, Emagine Theatre, Kohl's, Old Navy, T.J.Maxx, Ulta
|
|
Target
|
||
233
|
|
|
Fashion Corners
|
|
Saginaw
|
|
MI
|
|
Saginaw, MI
|
|
2004
|
|
184,735
|
|
|
99.4
|
%
|
|
1,831
|
|
|
9.97
|
|
|
—
|
|
Bed Bath & Beyond, Best Buy, Dunham's Sports, Guitar Center, Harbor Freight Tools
|
|
|
||
234
|
|
|
Green Acres (2)
|
|
Saginaw
|
|
MI
|
|
Saginaw, MI
|
|
2017
|
|
247,773
|
|
|
92.4
|
%
|
|
1,536
|
|
|
14.22
|
|
|
Kroger
|
|
Planet Fitness, Rite Aid
|
|
|
||
235
|
|
|
Hall Road Crossing
|
|
Shelby Township
|
|
MI
|
|
Detroit-Warren-Dearborn, MI
|
|
1999
|
|
175,503
|
|
|
79.0
|
%
|
|
2,021
|
|
|
14.57
|
|
|
—
|
|
Gander Mountain, Michaels, Old Navy, Ulta
|
|
|
||
236
|
|
|
Southfield Plaza
|
|
Southfield
|
|
MI
|
|
Detroit-Warren-Dearborn, MI
|
|
1970
|
|
101,724
|
|
|
98.5
|
%
|
|
1,173
|
|
|
11.71
|
|
|
—
|
|
Party City, Planet Fitness
|
|
Burlington Stores
|
||
237
|
|
|
18 Ryan
|
|
Sterling Heights
|
|
MI
|
|
Detroit-Warren-Dearborn, MI
|
|
1997
|
|
101,709
|
|
|
48.8
|
%
|
|
640
|
|
|
12.90
|
|
|
—
|
|
O'Reilly Auto Parts, Planet Fitness
|
|
|
||
238
|
|
|
Delco Plaza
|
|
Sterling Heights
|
|
MI
|
|
Detroit-Warren-Dearborn, MI
|
|
1996
|
|
154,853
|
|
|
100.0
|
%
|
|
1,020
|
|
|
6.59
|
|
|
—
|
|
Babies"R"Us, Bed Bath & Beyond, Dunham's Mega Sports, Tenpenny Furniture
|
|
|
||
239
|
|
|
Grand Traverse Crossing
|
|
Traverse City
|
|
MI
|
|
Traverse City, MI
|
|
1996
|
|
411,758
|
|
|
100.0
|
%
|
|
2,960
|
|
|
27.43
|
|
|
Walmart Supercenter
|
|
Books-A-Million, PetSmart, Staples, The Home Depot, Toys"R"Us, Ulta
|
|
|
||
240
|
|
|
West Ridge
|
|
Westland
|
|
MI
|
|
Detroit-Warren-Dearborn, MI
|
|
1989
|
|
162,874
|
|
|
72.0
|
%
|
|
1,200
|
|
|
10.23
|
|
|
—
|
|
Bed Bath & Beyond, Crunch Fitness, Party City, Petco
|
|
Burlington Stores, Target
|
||
241
|
|
|
Roundtree Place
|
|
Ypsilanti
|
|
MI
|
|
Ann Arbor, MI
|
|
1992
|
|
246,620
|
|
|
96.9
|
%
|
|
1,130
|
|
|
13.05
|
|
|
Walmart Supercenter
|
|
Harbor Freight Tools, Ollie's Bargain Outlet
|
|
|
||
242
|
|
|
Washtenaw Fountain Plaza
|
|
Ypsilanti
|
|
MI
|
|
Ann Arbor, MI
|
|
2005
|
|
123,706
|
|
|
96.0
|
%
|
|
842
|
|
|
7.09
|
|
|
Save-A-Lot
|
|
Dollar Tree, Dunham's Sports, Planet Fitness
|
|
|
||
243
|
|
|
Southport Centre I - VI
|
|
Apple Valley
|
|
MN
|
|
Minneapolis-St. Paul-Bloomington, MN-WI
|
|
1985
|
|
124,937
|
|
|
97.6
|
%
|
|
2,045
|
|
|
16.77
|
|
|
SuperTarget*
|
|
Best Buy, Dollar Tree, Walgreens
|
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
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 PSF
|
|
Grocer (1)
|
|
Other Major Tenants
|
|
Non-Owned Major Tenants
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
244
|
|
|
Austin Town Center
|
|
Austin
|
|
MN
|
|
Austin, MN
|
|
1999
|
|
108,486
|
|
|
65.2
|
%
|
|
463
|
|
|
8.31
|
|
|
ALDI
|
|
Jo-Ann Fabric & Craft Stores
|
|
|
||
245
|
|
|
Burning Tree Plaza
|
|
Duluth
|
|
MN
|
|
Duluth, MN-WI
|
|
1987
|
|
182,969
|
|
|
97.7
|
%
|
|
2,069
|
|
|
11.58
|
|
|
—
|
|
Best Buy, David's Bridal, Dunham's Sports, Jo-Ann Fabric & Craft Stores, T.J.Maxx
|
|
|
||
246
|
|
|
Elk Park Center
|
|
Elk River
|
|
MN
|
|
Minneapolis-St. Paul-Bloomington, MN-WI
|
|
1999
|
|
204,992
|
|
|
89.1
|
%
|
|
1,946
|
|
|
10.66
|
|
|
Cub Foods (Jerry's Foods)
|
|
OfficeMax
|
|
|
||
247
|
|
|
Westwind Plaza
|
|
Minnetonka
|
|
MN
|
|
Minneapolis-St. Paul-Bloomington, MN-WI
|
|
2007
|
|
87,942
|
|
|
91.5
|
%
|
|
1,346
|
|
|
16.73
|
|
|
Cub Foods (Supervalu)*
|
|
—
|
|
|
||
248
|
|
|
Richfield Hub
|
|
Richfield
|
|
MN
|
|
Minneapolis-St. Paul-Bloomington, MN-WI
|
|
1952
|
|
213,595
|
|
|
87.9
|
%
|
|
2,233
|
|
|
11.90
|
|
|
Rainbow Foods (Jerry's Foods)
|
|
FLEX Academy, Marshalls, Michaels
|
|
|
||
249
|
|
|
Roseville Center
|
|
Roseville
|
|
MN
|
|
Minneapolis-St. Paul-Bloomington, MN-WI
|
|
2000
|
|
69,537
|
|
|
57.2
|
%
|
|
630
|
|
|
15.84
|
|
|
Cub Foods (Jerry's Foods)*
|
|
Dollar Tree
|
|
|
||
250
|
|
|
Marketplace @ 42
|
|
Savage
|
|
MN
|
|
Minneapolis-St. Paul-Bloomington, MN-WI
|
|
1999
|
|
114,505
|
|
|
96.9
|
%
|
|
1,772
|
|
|
15.98
|
|
|
Fresh Thyme Farmers Market
|
|
Marshalls
|
|
|
||
251
|
|
|
Sun Ray Shopping Center
|
|
St. Paul
|
|
MN
|
|
Minneapolis-St. Paul-Bloomington, MN-WI
|
|
1958
|
|
291,048
|
|
|
91.6
|
%
|
|
2,566
|
|
|
12.78
|
|
|
Cub Foods (Supervalu)
|
|
Planet Fitness, T.J.Maxx, Valu Thrift Store
|
|
|
||
252
|
|
|
White Bear Hills Shopping Center
|
|
White Bear Lake
|
|
MN
|
|
Minneapolis-St. Paul-Bloomington, MN-WI
|
|
1996
|
|
73,095
|
|
|
98.4
|
%
|
|
703
|
|
|
9.77
|
|
|
Festival Foods
|
|
Dollar Tree
|
|
|
||
253
|
|
|
Ellisville Square
|
|
Ellisville
|
|
MO
|
|
St. Louis, MO-IL
|
|
1989
|
|
139,087
|
|
|
77.4
|
%
|
|
1,434
|
|
|
13.73
|
|
|
—
|
|
Michaels, Party City, Petco, Tuesday Morning
|
|
|
||
254
|
|
|
Clocktower Place
|
|
Florissant
|
|
MO
|
|
St. Louis, MO-IL
|
|
1987
|
|
207,317
|
|
|
89.8
|
%
|
|
1,451
|
|
|
7.93
|
|
|
ALDI
|
|
Florissant Furniture & Rug Gallery, K&G Fashion Superstore, Ross Dress for Less
|
|
|
||
255
|
|
|
Hub Shopping Center
|
|
Independence
|
|
MO
|
|
Kansas City, MO-KS
|
|
1995
|
|
160,423
|
|
|
89.5
|
%
|
|
793
|
|
|
5.91
|
|
|
Price Chopper
|
|
—
|
|
|
||
256
|
|
|
Watts Mill Plaza
|
|
Kansas City
|
|
MO
|
|
Kansas City, MO-KS
|
|
1997
|
|
161,717
|
|
|
90.4
|
%
|
|
1,279
|
|
|
8.74
|
|
|
Price Chopper
|
|
Ace Hardware
|
|
|
||
257
|
|
|
Liberty Corners
|
|
Liberty
|
|
MO
|
|
Kansas City, MO-KS
|
|
1987
|
|
124,808
|
|
|
85.1
|
%
|
|
917
|
|
|
8.63
|
|
|
Price Chopper
|
|
—
|
|
|
||
258
|
|
|
Maplewood Square
|
|
Maplewood
|
|
MO
|
|
St. Louis, MO-IL
|
|
1998
|
|
71,590
|
|
|
93.6
|
%
|
|
474
|
|
|
7.08
|
|
|
Shop 'n Save (Supervalu)
|
|
—
|
|
|
||
259
|
|
|
Clinton Crossing
|
|
Clinton
|
|
MS
|
|
Jackson, MS
|
|
1990
|
|
112,148
|
|
|
98.8
|
%
|
|
1,069
|
|
|
9.94
|
|
|
Kroger
|
|
—
|
|
|
||
260
|
|
|
County Line Plaza
|
|
Jackson
|
|
MS
|
|
Jackson, MS
|
|
1997
|
|
221,127
|
|
|
86.0
|
%
|
|
2,007
|
|
|
11.14
|
|
|
—
|
|
Burke's Outlet, Burlington Stores, Conn's, Kirkland's, Tuesday Morning
|
|
|
||
261
|
|
|
Devonshire Place
|
|
Cary
|
|
NC
|
|
Raleigh, NC
|
|
1996
|
|
106,680
|
|
|
100.0
|
%
|
|
1,591
|
|
|
15.24
|
|
|
—
|
|
Burlington Stores, Dollar Tree, REI
|
|
|
||
262
|
|
|
McMullen Creek Market
|
|
Charlotte
|
|
NC
|
|
Charlotte-Concord-Gastonia, NC-SC
|
|
1988
|
|
277,415
|
|
|
87.5
|
%
|
|
3,114
|
|
|
12.82
|
|
|
Walmart Neighborhood Market
|
|
Burlington Stores, Dollar Tree, Rugged Wearhouse, Staples
|
|
|
||
263
|
|
|
The Commons at Chancellor Park
|
|
Charlotte
|
|
NC
|
|
Charlotte-Concord-Gastonia, NC-SC
|
|
1994
|
|
348,604
|
|
|
99.1
|
%
|
|
1,971
|
|
|
8.21
|
|
|
Patel Brothers
|
|
Big Lots, Fallas Paredes, Gabriel Brothers, The Home Depot, Value City Furniture
|
|
|
||
264
|
|
|
Macon Plaza
|
|
Franklin
|
|
NC
|
|
—
|
|
2001
|
|
92,787
|
|
|
94.1
|
%
|
|
474
|
|
|
10.50
|
|
|
BI-LO (Southeastern Grocers)
|
|
Peebles
|
|
|
||
265
|
|
|
Garner Towne Square
|
|
Garner
|
|
NC
|
|
Raleigh, NC
|
|
1997
|
|
184,347
|
|
|
87.6
|
%
|
|
2,012
|
|
|
12.46
|
|
|
Kroger
|
|
OfficeMax, PetSmart
|
|
Target, The Home Depot
|
||
266
|
|
|
Franklin Square
|
|
Gastonia
|
|
NC
|
|
Charlotte-Concord-Gastonia, NC-SC
|
|
1989
|
|
317,705
|
|
|
76.5
|
%
|
|
2,853
|
|
|
13.42
|
|
|
Walmart Supercenter*
|
|
Best Buy, Dollar Tree, Michaels, Ross Dress for Less
|
|
|
||
267
|
|
|
Wendover Place
|
|
Greensboro
|
|
NC
|
|
Greensboro-High Point, NC
|
|
2000
|
|
406,768
|
|
|
99.5
|
%
|
|
4,984
|
|
|
14.41
|
|
|
—
|
|
Babies"R"Us, Christmas Tree Shops, Dick's Sporting Goods, Kohl's, Old Navy, PetSmart, Rainbow
|
|
Ross Dress for Less, Target
|
||
268
|
|
|
University Commons
|
|
Greenville
|
|
NC
|
|
Greenville, NC
|
|
1996
|
|
233,153
|
|
|
96.2
|
%
|
|
3,026
|
|
|
13.49
|
|
|
Harris Teeter (Kroger)
|
|
A.C. Moore, Barnes & Noble, Petco, T.J.Maxx
|
|
Target
|
||
269
|
|
|
Valley Crossing
|
|
Hickory
|
|
NC
|
|
Hickory-Lenoir-Morganton, NC
|
|
2014
|
|
191,431
|
|
|
100.0
|
%
|
|
1,757
|
|
|
9.18
|
|
|
—
|
|
Academy Sports + Outdoors, Dollar Tree, Fallas Paredes, Harbor Freight Tools, Ollie's Bargain Outlet
|
|
|
||
270
|
|
|
Kinston Pointe
|
|
Kinston
|
|
NC
|
|
Kinston, NC
|
|
2001
|
|
250,580
|
|
|
100.0
|
%
|
|
945
|
|
|
3.77
|
|
|
Walmart Supercenter
|
|
Dollar Tree
|
|
|
||
271
|
|
|
Magnolia Plaza
|
|
Morganton
|
|
NC
|
|
Hickory-Lenoir-Morganton, NC
|
|
1990
|
|
104,539
|
|
|
47.0
|
%
|
|
246
|
|
|
5.01
|
|
|
—
|
|
—
|
|
|
||
272
|
|
|
Roxboro Square
|
|
Roxboro
|
|
NC
|
|
Durham-Chapel Hill, NC
|
|
2005
|
|
97,226
|
|
|
93.8
|
%
|
|
1,381
|
|
|
15.14
|
|
|
—
|
|
Person County Health & Human Services
|
|
|
||
273
|
|
|
Innes Street Market
|
|
Salisbury
|
|
NC
|
|
Charlotte-Concord-Gastonia, NC-SC
|
|
2002
|
|
349,425
|
|
|
98.7
|
%
|
|
3,865
|
|
|
11.21
|
|
|
Food Lion (Delhaize)
|
|
Lowe's, Marshalls, Old Navy, PetSmart, Staples, Tinseltown
|
|
|
||
274
|
|
|
Salisbury Marketplace
|
|
Salisbury
|
|
NC
|
|
Charlotte-Concord-Gastonia, NC-SC
|
|
1987
|
|
79,732
|
|
|
82.5
|
%
|
|
687
|
|
|
10.44
|
|
|
Food Lion (Delhaize)
|
|
Citi Trends, Family Dollar
|
|
|
||
275
|
|
|
Crossroads
|
|
Statesville
|
|
NC
|
|
Charlotte-Concord-Gastonia, NC-SC
|
|
1997
|
|
340,189
|
|
|
98.8
|
%
|
|
2,128
|
|
|
6.33
|
|
|
Walmart Supercenter
|
|
Big Lots, Burkes Outlet, Tractor Supply
|
|
|
||
276
|
|
|
Anson Station
|
|
Wadesboro
|
|
NC
|
|
—
|
|
1988
|
|
132,353
|
|
|
62.6
|
%
|
|
519
|
|
|
6.27
|
|
|
Food Lion (Delhaize)
|
|
Peebles, Tractor Supply Co.
|
|
|
||
277
|
|
|
New Centre Market
|
|
Wilmington
|
|
NC
|
|
Wilmington, NC
|
|
1998
|
|
143,762
|
|
|
97.5
|
%
|
|
1,987
|
|
|
14.57
|
|
|
—
|
|
OfficeMax, PetSmart, Sportsmans Warehouse
|
|
Target
|
||
278
|
|
|
University Commons
|
|
Wilmington
|
|
NC
|
|
Wilmington, NC
|
|
2007
|
|
235,345
|
|
|
100.0
|
%
|
|
3,550
|
|
|
15.08
|
|
|
Lowes Foods
|
|
A.C. Moore, HomeGoods, T.J.Maxx
|
|
|
||
279
|
|
|
Whitaker Square
|
|
Winston Salem
|
|
NC
|
|
Winston-Salem, NC
|
|
1996
|
|
82,760
|
|
|
100.0
|
%
|
|
1,238
|
|
|
14.96
|
|
|
Harris Teeter (Kroger)
|
|
—
|
|
|
||
280
|
|
|
Parkway Plaza
|
|
Winston-Salem
|
|
NC
|
|
Winston-Salem, NC
|
|
2005
|
|
283,830
|
|
|
89.5
|
%
|
|
2,858
|
|
|
11.85
|
|
|
Super Compare Foods
|
|
Big Lots, Citi Trends, Office Depot
|
|
|
||
281
|
|
|
Stratford Commons
|
|
Winston-Salem
|
|
NC
|
|
Winston-Salem, NC
|
|
1995
|
|
72,308
|
|
|
94.8
|
%
|
|
978
|
|
|
14.27
|
|
|
—
|
|
Golf Galaxy, Mattress Firm, OfficeMax
|
|
|
||
282
|
|
|
Bedford Grove
|
|
Bedford
|
|
NH
|
|
Manchester-Nashua, NH
|
|
1989
|
|
216,941
|
|
|
79.1
|
%
|
|
1,719
|
|
|
32.78
|
|
|
—
|
|
Boston Interiors, Walmart
|
|
|
||
283
|
|
|
Capitol Shopping Center
|
|
Concord
|
|
NH
|
|
Concord, NH
|
|
2001
|
|
182,887
|
|
|
100.0
|
%
|
|
2,036
|
|
|
11.39
|
|
|
DeMoulas Supermarkets
|
|
Burlington Stores, Jo-Ann Fabric & Craft Stores, Marshalls
|
|
|
||
284
|
|
|
Willow Springs Plaza
|
|
Nashua
|
|
NH
|
|
Manchester-Nashua, NH
|
|
1990
|
|
131,248
|
|
|
100.0
|
%
|
|
2,354
|
|
|
19.55
|
|
|
—
|
|
JC Penney, New Hampshire Liquor and Wine Outlet, Petco
|
|
The Home Depot
|
||
285
|
|
|
Seacoast Shopping Center
|
|
Seabrook
|
|
NH
|
|
Boston-Cambridge-Newton, MA-NH
|
|
1991
|
|
91,690
|
|
|
80.2
|
%
|
|
404
|
|
|
5.73
|
|
|
—
|
|
Jo-Ann Fabric & Craft Stores, NH1 MotorPlex
|
|
Cardi's Furniture, Ocean State Job Lot
|
||
286
|
|
|
Tri-City Plaza
|
|
Somersworth
|
|
NH
|
|
Boston-Cambridge-Newton, MA-NH
|
|
1990
|
|
150,004
|
|
|
100.0
|
%
|
|
1,486
|
|
|
9.91
|
|
|
Market Basket (DeMoulas Supermarkets)
|
|
T.J.Maxx
|
|
|
||
287
|
|
|
Laurel Square
|
|
Brick
|
|
NJ
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
2003
|
|
246,235
|
|
|
68.2
|
%
|
|
1,089
|
|
|
7.02
|
|
|
—
|
|
Kmart, Planet Fitness
|
|
|
||
288
|
|
|
The Shoppes at Cinnaminson
|
|
Cinnaminson
|
|
NJ
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
|
2010
|
|
298,309
|
|
|
95.1
|
%
|
|
4,206
|
|
|
21.97
|
|
|
ShopRite
|
|
Burlington Stores, Ross Dress For Less
|
|
|
||
289
|
|
|
Acme Clark
|
|
Clark
|
|
NJ
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
2007
|
|
52,812
|
|
|
100.0
|
%
|
|
1,422
|
|
|
26.93
|
|
|
Acme (Albertsons)
|
|
—
|
|
|
|||
290
|
|
|
Collegetown Shopping Center
|
|
Glassboro
|
|
NJ
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
|
1966
|
|
250,408
|
|
|
97.5
|
%
|
|
2,270
|
|
|
9.30
|
|
|
—
|
|
Kmart, LA Fitness, Staples
|
|
|
||
291
|
|
|
Hamilton Plaza
|
|
Hamilton
|
|
NJ
|
|
Trenton, NJ
|
1972
|
|
148,919
|
|
|
98.0
|
%
|
|
1,069
|
|
|
7.33
|
|
|
—
|
|
Hibachi Grill & Supreme Buffet, Kmart, Planet Fitness
|
|
|
|||
292
|
|
|
Bennetts Mills Plaza
|
|
Jackson
|
|
NJ
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
2002
|
|
127,230
|
|
|
91.1
|
%
|
|
1,537
|
|
|
13.26
|
|
|
Super Stop & Shop (Ahold)
|
|
—
|
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
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 PSF
|
|
Grocer (1)
|
|
Other Major Tenants
|
|
Non-Owned Major Tenants
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
293
|
|
|
Lakewood Plaza
|
|
Lakewood
|
|
NJ
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1966
|
|
201,010
|
|
|
99.2
|
%
|
|
3,172
|
|
|
15.90
|
|
|
Gourmet Glatt Market
|
|
Dollar Tree
|
|
|
||
294
|
|
|
Marlton Crossing
|
|
Marlton
|
|
NJ
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
|
1986
|
|
332,671
|
|
|
97.8
|
%
|
|
5,620
|
|
|
17.28
|
|
|
—
|
|
Burlington Stores, DSW, HomeGoods, Michaels, T.J. Maxx
|
|
|
||
295
|
|
|
Middletown Plaza
|
|
Middletown
|
|
NJ
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
2001
|
|
197,066
|
|
|
88.7
|
%
|
|
3,488
|
|
|
20.25
|
|
|
ShopRite
|
|
Petco, Rite Aid
|
|
|
|||
296
|
|
|
Larchmont Centre
|
|
Mount Laurel
|
|
NJ
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
|
1985
|
|
103,787
|
|
|
88.5
|
%
|
|
1,127
|
|
|
30.70
|
|
|
ShopRite
|
|
—
|
|
|
||
297
|
|
|
Old Bridge Gateway
|
|
Old Bridge
|
|
NJ
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
1995
|
|
246,120
|
|
|
95.2
|
%
|
|
3,923
|
|
|
16.74
|
|
|
Bhavani Food Market
|
|
Marshalls, Modell's Sporting Goods, Pep Boys, Petco, Robert Wood Johnson Fitness
|
|
|
|||
298
|
|
|
Morris Hills Shopping Center
|
|
Parsippany
|
|
NJ
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1994
|
|
159,561
|
|
|
100.0
|
%
|
|
3,099
|
|
|
19.42
|
|
|
—
|
|
Blink Fitness (Equinox), Cinepolis, HomeGoods, Marshalls
|
|
|
||
299
|
|
|
Rio Grande Plaza
|
|
Rio Grande
|
|
NJ
|
|
Ocean City, NJ
|
|
1997
|
|
141,330
|
|
|
92.0
|
%
|
|
1,514
|
|
|
11.65
|
|
|
ShopRite*
|
|
JC Penney, Peebles, PetSmart
|
|
|
||
300
|
|
|
Ocean Heights Plaza
|
|
Somers Point
|
|
NJ
|
|
Atlantic City-Hammonton, NJ
|
|
2006
|
|
179,199
|
|
|
99.1
|
%
|
|
3,352
|
|
|
18.87
|
|
|
ShopRite
|
|
Pier 1 Imports, Staples
|
|
|
||
301
|
|
|
Springfield Place
|
|
Springfield
|
|
NJ
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1965
|
|
34,409
|
|
|
100.0
|
%
|
|
532
|
|
|
15.46
|
|
|
ShopRite
|
|
—
|
|
|
||
302
|
|
|
Tinton Falls Plaza
|
|
Tinton Falls
|
|
NJ
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
2006
|
|
98,410
|
|
|
80.1
|
%
|
|
1,343
|
|
|
17.03
|
|
|
Acme (Albertsons)*
|
|
Dollar Tree, WOW! Fitness
|
|
|
||
303
|
|
|
Cross Keys Commons
|
|
Turnersville
|
|
NJ
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
|
1989
|
|
216,323
|
|
|
92.4
|
%
|
|
3,262
|
|
|
16.89
|
|
|
Walmart Supercenter*
|
|
Marshalls, Rainbow, Ross Dress for Less, Staples, ULTA
|
|
|
||
304
|
|
|
Dover Park Plaza
|
|
Yardville
|
|
NJ
|
|
Trenton, NJ
|
2005
|
|
56,638
|
|
|
82.2
|
%
|
|
723
|
|
|
15.54
|
|
|
—
|
|
CVS, Dollar Tree
|
|
|
|||
305
|
|
|
St Francis Plaza
|
|
Santa Fe
|
|
NM
|
|
Santa Fe, NM
|
|
1993
|
|
35,800
|
|
|
100.0
|
%
|
|
460
|
|
|
12.85
|
|
|
—
|
|
Walgreens
|
|
|
||
306
|
|
|
Smith's
|
|
Socorro
|
|
NM
|
|
—
|
|
1976
|
|
48,000
|
|
|
100.0
|
%
|
|
506
|
|
|
10.54
|
|
|
—
|
|
—
|
|
|
||
307
|
|
|
Galleria Commons
|
|
Henderson
|
|
NV
|
|
Las Vegas-Henderson-Paradise, NV
|
|
1998
|
|
278,411
|
|
|
100.0
|
%
|
|
3,226
|
|
|
11.73
|
|
|
—
|
|
Babies"R"Us, Burlington Stores, Kirkland’s, Stein Mart, T.J.Maxx, Tuesday Morning
|
|
|
||
308
|
|
|
Montecito Marketplace
|
|
Las Vegas
|
|
NV
|
|
Las Vegas-Henderson-Paradise, NV
|
|
2006
|
|
190,434
|
|
|
100.0
|
%
|
|
3,848
|
|
|
30.76
|
|
|
Smith's (Kroger)
|
|
T.J.Maxx
|
|
|
||
309
|
|
|
Renaissance Center East
|
|
Las Vegas
|
|
NV
|
|
Las Vegas-Henderson-Paradise, NV
|
|
1981
|
|
144,216
|
|
|
78.4
|
%
|
|
1,315
|
|
|
11.63
|
|
|
—
|
|
Savers
|
|
|
||
310
|
|
|
Parkway Plaza
|
|
Carle Place
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1993
|
|
89,704
|
|
|
99.1
|
%
|
|
2,623
|
|
|
29.50
|
|
|
—
|
|
Minado, Stew Leonard's Wines, T.J.Maxx
|
|
|
||
311
|
|
|
Erie Canal Centre (2)
|
|
Dewitt
|
|
NY
|
|
Syracuse, NY
|
|
2017
|
|
116,488
|
|
|
100.0
|
%
|
|
1,448
|
|
|
12.43
|
|
|
—
|
|
Burlington Stores, Dick's Sporting Goods, Michaels
|
|
|
||
312
|
|
|
Unity Plaza
|
|
East Fishkill
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
2005
|
|
67,462
|
|
|
100.0
|
%
|
|
1,423
|
|
|
21.09
|
|
|
Acme (Albertsons) *
|
|
True Value
|
|
|
||
313
|
|
|
Suffolk Plaza
|
|
East Setauket
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1998
|
|
84,480
|
|
|
27.8
|
%
|
|
672
|
|
|
28.62
|
|
|
BJ's Wholesale*, Walmart Supercenter*
|
|
—
|
|
Kohl's
|
||
314
|
|
|
Three Village Shopping Center
|
|
East Setauket
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1991
|
|
77,458
|
|
|
92.6
|
%
|
|
1,884
|
|
|
26.26
|
|
|
Wild by Nature Market*
|
|
Ace Hardware
|
|
Rite Aid
|
||
315
|
|
|
Stewart Plaza
|
|
Garden City
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1990
|
|
193,622
|
|
|
97.2
|
%
|
|
2,922
|
|
|
15.53
|
|
|
—
|
|
Burlington Stores, Dollar Tree, K&G Fashion Superstore
|
|
|
||
316
|
|
|
Genesee Valley Shopping Center
|
|
Geneseo
|
|
NY
|
|
Rochester, NY
|
|
2007
|
|
191,314
|
|
|
89.3
|
%
|
|
1,627
|
|
|
9.82
|
|
|
Wegmans
|
|
Peebles, PetSmart, Tractor Supply Co.
|
|
|
||
317
|
|
|
Dalewood I, II & III Shopping Center
|
|
Hartsdale
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1972
|
|
191,441
|
|
|
100.0
|
%
|
|
6,530
|
|
|
34.85
|
|
|
Best Mart, H-Mart
|
|
Christmas Tree Shops, Rite Aid, T.J.Maxx
|
|
|
||
318
|
|
|
Hornell Plaza
|
|
Hornell
|
|
NY
|
|
Corning, NY
|
|
2005
|
|
253,335
|
|
|
100.0
|
%
|
|
2,108
|
|
|
8.32
|
|
|
Wegmans
|
|
Dollar Tree, Walmart
|
|
|
||
319
|
|
|
Cayuga Mall
|
|
Ithaca
|
|
NY
|
|
Ithaca, NY
|
|
1969
|
|
204,830
|
|
|
85.0
|
%
|
|
1,547
|
|
|
8.89
|
|
|
—
|
|
Big Lots, Jo-Ann Fabric & Craft Stores, Party City, Rite Aid, True Value
|
|
|
||
320
|
|
|
Kings Park Plaza
|
|
Kings Park
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1985
|
|
71,942
|
|
|
97.4
|
%
|
|
1,690
|
|
|
24.12
|
|
|
Key Food Marketplace
|
|
T.J.Maxx
|
|
|
||
321
|
|
|
Village Square Shopping Center
|
|
Larchmont
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1981
|
|
17,000
|
|
|
100.0
|
%
|
|
584
|
|
|
34.35
|
|
|
Trader Joe's
|
|
—
|
|
|
||
322
|
|
|
Falcaro's Plaza
|
|
Lawrence
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1972
|
|
61,118
|
|
|
57.2
|
%
|
|
930
|
|
|
26.58
|
|
|
—
|
|
Advance Auto Parts
|
|
|
||
323
|
|
|
Shops at Seneca Mall
|
|
Liverpool
|
|
NY
|
|
Syracuse, NY
|
|
2005
|
|
230,924
|
|
|
66.7
|
%
|
|
707
|
|
|
4.59
|
|
|
—
|
|
Big Lots, Kmart
|
|
Raymour & Flanigan
|
||
324
|
|
|
Mamaroneck Centre
|
|
Mamaroneck
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1976
|
|
24,978
|
|
|
49.0
|
%
|
|
514
|
|
|
42.02
|
|
|
—
|
|
CVS
|
|
|
||
325
|
|
|
Sunshine Square
|
|
Medford
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
2007
|
|
223,322
|
|
|
90.9
|
%
|
|
2,752
|
|
|
13.56
|
|
|
Super Stop & Shop (Ahold)
|
|
Planet Fitness, Savers
|
|
|
||
326
|
|
|
Wallkill Plaza
|
|
Middletown
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1986
|
|
209,910
|
|
|
97.8
|
%
|
|
2,103
|
|
|
10.56
|
|
|
—
|
|
Ashley Furniture, Big Lots, Citi Trends, David's Bridal, Hobby Lobby
|
|
|
||
327
|
|
|
Monroe ShopRite Plaza
|
|
Monroe
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1985
|
|
122,007
|
|
|
100.0
|
%
|
|
1,929
|
|
|
15.81
|
|
|
ShopRite
|
|
Retro Fitness, Rite Aid, U.S. Post Office
|
|
|
||
328
|
|
|
Rockland Plaza
|
|
Nanuet
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
2006
|
|
251,537
|
|
|
100.0
|
%
|
|
6,534
|
|
|
25.98
|
|
|
A Matter of Health
|
|
Barnes & Noble, Lemon Pop, Marshalls, Modell's Sporting Goods, Petco
|
|
|
||
329
|
|
|
North Ridge Shopping Center
|
|
New Rochelle
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1971
|
|
37,170
|
|
|
95.6
|
%
|
|
1,392
|
|
|
39.17
|
|
|
—
|
|
Harmon Discount
|
|
|
||
330
|
|
|
Nesconset Shopping Center
|
|
Port Jefferson Station
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1961
|
|
122,996
|
|
|
95.9
|
%
|
|
2,467
|
|
|
20.91
|
|
|
—
|
|
Dollar Tree, HomeGoods
|
|
|
||
331
|
|
|
Port Washington
|
|
Port Washington
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1968
|
|
19,600
|
|
|
100.0
|
%
|
|
112
|
|
|
5.71
|
|
|
North Shore Farms
|
|
—
|
|
|
||
332
|
|
|
Roanoke Plaza
|
|
Riverhead
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
2002
|
|
99,131
|
|
|
100.0
|
%
|
|
1,821
|
|
|
18.37
|
|
|
Best Yet Market
|
|
CVS, T.J.Maxx
|
|
|
|||
333
|
|
|
Rockville Centre
|
|
Rockville Centre
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1975
|
|
44,131
|
|
|
94.3
|
%
|
|
1,099
|
|
|
26.40
|
|
|
—
|
|
HomeGoods, Rite Aid
|
|
|
||
334
|
|
|
Mohawk Acres Plaza
|
|
Rome
|
|
NY
|
|
Utica-Rome, NY
|
|
2005
|
|
156,680
|
|
|
85.1
|
%
|
|
1,369
|
|
|
21.62
|
|
|
Price Chopper
|
|
Family Dollar
|
|
|
||
335
|
|
|
College Plaza
|
|
Selden
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
2013
|
|
180,182
|
|
|
97.8
|
%
|
|
3,136
|
|
|
18.26
|
|
|
ShopRite
|
|
A.C. Moore, Blink Fitness (Equinox), Bob's Stores
|
|
Firestone
|
||
336
|
|
|
Campus Plaza
|
|
Vestal
|
|
NY
|
|
Binghamton, NY
|
|
2003
|
|
160,744
|
|
|
100.0
|
%
|
|
1,875
|
|
|
11.67
|
|
|
—
|
|
Olum's Furniture & Appliances, Rite Aid, Staples
|
|
|
||
337
|
|
|
Parkway Plaza
|
|
Vestal
|
|
NY
|
|
Binghamton, NY
|
|
1995
|
|
204,954
|
|
|
100.0
|
%
|
|
2,185
|
|
|
10.66
|
|
|
PriceRite (Wakefern)
|
|
Bed Bath & Beyond, Kohl's, PetSmart, Target
|
|
Target
|
||
338
|
|
|
Shoppes at Vestal
|
|
Vestal
|
|
NY
|
|
Binghamton, NY
|
|
2000
|
|
92,328
|
|
|
100.0
|
%
|
|
1,485
|
|
|
16.08
|
|
|
—
|
|
HomeGoods, Michaels, Old Navy
|
|
|
||
339
|
|
|
Town Square Mall
|
|
Vestal
|
|
NY
|
|
Binghamton, NY
|
|
1991
|
|
293,181
|
|
|
99.4
|
%
|
|
4,711
|
|
|
16.17
|
|
|
Sam's Club*, Walmart Supercenter*
|
|
A.C. Moore, AMC Cinemas, Barnes & Noble, Dick's Sporting Goods, Dollar Tree, DSW, T.J.Maxx, Ulta
|
|
|
||
340
|
|
|
The Plaza at Salmon Run
|
|
Watertown
|
|
NY
|
|
Watertown-Fort Drum, NY
|
|
1993
|
|
68,761
|
|
|
94.1
|
%
|
|
707
|
|
|
10.92
|
|
|
Hannaford Bros. (Delhaize)
|
|
Red Robin Gourmet Burger
|
|
Lowe's
|
||
341
|
|
|
Highridge Plaza
|
|
Yonkers
|
|
NY
|
|
New York-Newark-Jersey City, NY-NJ-PA
|
|
1977
|
|
88,501
|
|
|
94.5
|
%
|
|
2,255
|
|
|
26.97
|
|
|
H-Mart
|
|
—
|
|
|
||
342
|
|
|
Brunswick Town Center
|
|
Brunswick
|
|
OH
|
|
Cleveland-Elyria, OH
|
|
2004
|
|
138,407
|
|
|
94.5
|
%
|
|
1,833
|
|
|
14.02
|
|
|
Giant Eagle
|
|
—
|
|
The Home Depot
|
||
343
|
|
|
30th Street Plaza
|
|
Canton
|
|
OH
|
|
Canton-Massillon, OH
|
|
1999
|
|
157,055
|
|
|
87.1
|
%
|
|
1,463
|
|
|
10.69
|
|
|
Giant Eagle, Marc's
|
|
—
|
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
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 PSF
|
|
Grocer (1)
|
|
Other Major Tenants
|
|
Non-Owned Major Tenants
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
344
|
|
|
Brentwood Plaza
|
|
Cincinnati
|
|
OH
|
|
Cincinnati, OH-KY-IN
|
|
2004
|
|
222,174
|
|
|
96.1
|
%
|
|
2,404
|
|
|
17.58
|
|
|
Kroger
|
|
Petco, Planet Fitness, Rainbow
|
|
|
||
345
|
|
|
Delhi Shopping Center
|
|
Cincinnati
|
|
OH
|
|
Cincinnati, OH-KY-IN
|
|
1973
|
|
164,750
|
|
|
96.8
|
%
|
|
1,399
|
|
|
8.77
|
|
|
Kroger
|
|
Pet Supplies Plus
|
|
|
||
346
|
|
|
Harpers Station
|
|
Cincinnati
|
|
OH
|
|
Cincinnati, OH-KY-IN
|
|
1994
|
|
252,233
|
|
|
98.5
|
%
|
|
3,467
|
|
|
13.95
|
|
|
Fresh Thyme Farmers Market
|
|
HomeGoods, LA Fitness, Pet Supplies Plus, Stein Mart, T.J.Maxx
|
|
|
||
347
|
|
|
Western Hills Plaza
|
|
Cincinnati
|
|
OH
|
|
Cincinnati, OH-KY-IN
|
|
1954
|
|
314,754
|
|
|
99.4
|
%
|
|
3,834
|
|
|
12.59
|
|
|
—
|
|
Bed Bath & Beyond, Michaels, Sears, Staples, T.J.Maxx
|
|
Target
|
||
348
|
|
|
Western Village
|
|
Cincinnati
|
|
OH
|
|
Cincinnati, OH-KY-IN
|
|
2005
|
|
115,116
|
|
|
93.8
|
%
|
|
957
|
|
|
30.52
|
|
|
Kroger
|
|
—
|
|
|
||
349
|
|
|
Crown Point
|
|
Columbus
|
|
OH
|
|
Columbus, OH
|
|
1980
|
|
144,931
|
|
|
93.1
|
%
|
|
1,341
|
|
|
9.94
|
|
|
Kroger
|
|
Dollar Tree, Planet Fitness
|
|
|
||
350
|
|
|
Greentree Shopping Center
|
|
Columbus
|
|
OH
|
|
Columbus, OH
|
|
2005
|
|
130,773
|
|
|
81.9
|
%
|
|
1,086
|
|
|
10.96
|
|
|
Kroger
|
|
—
|
|
|
||
351
|
|
|
Brandt Pike Place
|
|
Dayton
|
|
OH
|
|
Dayton, OH
|
|
2008
|
|
17,900
|
|
|
88.8
|
%
|
|
154
|
|
|
9.69
|
|
|
Kroger*
|
|
—
|
|
|
||
352
|
|
|
South Towne Centre
|
|
Dayton
|
|
OH
|
|
Dayton, OH
|
|
1972
|
|
333,998
|
|
|
98.1
|
%
|
|
4,294
|
|
|
14.06
|
|
|
Health Foods Unlimited
|
|
Burlington Stores, Christmas Tree Shops, Jo-Ann Fabric & Craft Stores, Party City, Petsmart, Value City Furniture
|
|
|
||
353
|
|
|
The Vineyards
|
|
Eastlake
|
|
OH
|
|
Cleveland-Elyria, OH
|
|
1989
|
|
144,820
|
|
|
90.9
|
%
|
|
739
|
|
|
5.62
|
|
|
—
|
|
American Freight Furniture & Mattress, Dollar Tree, Harbor Freight Tools, Powerhouse Gym
|
|
|
||
354
|
|
|
Southland Shopping Center
|
|
Middleburg Heights
|
|
OH
|
|
Cleveland-Elyria, OH
|
|
1951
|
|
695,261
|
|
|
96.6
|
%
|
|
6,496
|
|
|
9.67
|
|
|
BJ's Wholesale Club, Giant Eagle, Marc's
|
|
Aspire Fitness, Burlington Stores, Cleveland Furniture Bank, Jo-Ann Fabric & Craft Stores, Marshalls, Party City
|
|
|
||
355
|
|
|
The Shoppes at North Olmsted
|
|
North Olmsted
|
|
OH
|
|
Cleveland-Elyria, OH
|
|
2002
|
|
70,003
|
|
|
98.2
|
%
|
|
1,037
|
|
|
15.09
|
|
|
—
|
|
Ollie's Bargain Outlet, Sears Outlet
|
|
|
||
356
|
|
|
The Shoppes at North Ridgeville
|
|
North Ridgeville
|
OH
|
|
Cleveland-Elyria, OH
|
|
2002
|
|
59,852
|
|
|
100.0
|
%
|
|
887
|
|
|
14.82
|
|
|
—
|
|
Pat Catan's Craft Centers
|
|
|
|||
357
|
|
|
Surrey Square Mall
|
|
Norwood
|
|
OH
|
|
Cincinnati, OH-KY-IN
|
|
2010
|
|
175,167
|
|
|
98.7
|
%
|
|
2,206
|
|
|
24.89
|
|
|
Kroger
|
|
Marshalls
|
|
|
||
358
|
|
|
Market Place
|
|
Piqua
|
|
OH
|
|
Dayton, OH
|
|
1972
|
|
182,487
|
|
|
93.9
|
%
|
|
702
|
|
|
7.21
|
|
|
Kroger
|
|
Roses
|
|
|
||
359
|
|
|
Brice Park
|
|
Reynoldsburg
|
|
OH
|
|
Columbus, OH
|
|
1989
|
|
158,565
|
|
|
85.1
|
%
|
|
1,185
|
|
|
9.60
|
|
|
—
|
|
Ashley Furniture, Citi Trends, Michaels
|
|
|
||
360
|
|
|
Streetsboro Crossing
|
|
Streetsboro
|
|
OH
|
|
Akron, OH
|
|
2002
|
|
89,436
|
|
|
100.0
|
%
|
|
685
|
|
|
7.66
|
|
|
Giant Eagle
|
|
—
|
|
Lowe's, Target
|
||
361
|
|
|
Miracle Mile Shopping Plaza
|
|
Toledo
|
|
OH
|
|
Toledo, OH
|
|
1955
|
|
315,515
|
|
|
82.3
|
%
|
|
1,575
|
|
|
10.26
|
|
|
Kroger
|
|
Aspire Fitness, Big Lots, Harbor Freight Tools
|
|
|
||
362
|
|
|
Southland Shopping Plaza
|
|
Toledo
|
|
OH
|
|
Toledo, OH
|
|
1988
|
|
293,598
|
|
|
85.3
|
%
|
|
1,637
|
|
|
6.54
|
|
|
Kroger
|
|
Big Lots, Planet Fitness, Shopper's World
|
|
|
||
363
|
|
|
Wadsworth Crossings
|
|
Wadsworth
|
|
OH
|
|
Cleveland-Elyria, OH
|
|
2005
|
|
118,145
|
|
|
85.1
|
%
|
|
1,694
|
|
|
17.38
|
|
|
—
|
|
Bed Bath & Beyond, OfficeMax, Petco
|
|
Kohl's, Lowe's, Target
|
||
364
|
|
|
Northgate Plaza
|
|
Westerville
|
|
OH
|
|
Columbus, OH
|
|
2008
|
|
15,219
|
|
|
100.0
|
%
|
|
248
|
|
|
16.30
|
|
|
Kroger*
|
|
—
|
|
The Home Depot
|
||
365
|
|
|
Marketplace
|
|
Tulsa
|
|
OK
|
|
Tulsa, OK
|
|
1992
|
|
186,851
|
|
|
100.0
|
%
|
|
1,837
|
|
|
9.83
|
|
|
—
|
|
Conn's, David's Bridal, Drysdales Western Wear, PetSmart
|
|
Best Buy
|
||
366
|
|
|
Village West
|
|
Allentown
|
|
PA
|
|
Allentown-Bethlehem-Easton, PA-NJ
|
|
1999
|
|
140,474
|
|
|
98.7
|
%
|
|
2,613
|
|
|
18.84
|
|
|
Giant Food (Ahold)
|
|
CVS, Dollar Tree
|
|
|
||
367
|
|
|
Park Hills Plaza
|
|
Altoona
|
|
PA
|
|
Altoona, PA
|
|
1985
|
|
278,586
|
|
|
79.7
|
%
|
|
1,966
|
|
|
8.86
|
|
|
Weis Markets
|
|
A.C. Moore, Dunham's Sports, Harbor Freight, Shoe Carnival, Toys"R"Us
|
|
|
||
368
|
|
|
Bensalem Square
|
|
Bensalem
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
|
1986
|
|
70,378
|
|
|
100.0
|
%
|
|
746
|
|
|
10.60
|
|
|
Redner's Warehouse Market
|
|
—
|
|
Premiere Storage
|
||
369
|
|
|
Bethel Park Shopping Center
|
|
Bethel Park
|
|
PA
|
|
Pittsburgh, PA
|
|
1965
|
|
199,079
|
|
|
100.0
|
%
|
|
1,932
|
|
|
10.76
|
|
|
Giant Eagle
|
|
Walmart
|
|
|
||
370
|
|
|
Bethlehem Square
|
|
Bethlehem
|
|
PA
|
|
Allentown-Bethlehem-Easton, PA-NJ
|
1994
|
|
389,450
|
|
|
99.5
|
%
|
|
3,897
|
|
|
15.19
|
|
|
Giant Food (Ahold)
|
|
T.J.Maxx, The Home Depot, Walmart
|
|
|
|||
371
|
|
|
Lehigh Shopping Center
|
|
Bethlehem
|
|
PA
|
|
Allentown-Bethlehem-Easton, PA-NJ
|
|
1955
|
|
378,358
|
|
|
97.3
|
%
|
|
3,436
|
|
|
11.70
|
|
|
Giant Food (Ahold)
|
|
Big Lots, Citi Trends, Dollar Tree, Gold Gyms, Mega Marshalls, PetSmart, Rite Aid, Staples, Wells Fargo, Wines & Spirits
|
|
|
||
372
|
|
|
Bristol Park
|
|
Bristol
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
|
1993
|
|
283,153
|
|
|
94.5
|
%
|
|
2,296
|
|
|
8.58
|
|
|
Walmart Supercenter
|
|
Ollie's Bargain Outlet
|
|
|
||
373
|
|
|
Chalfont Village Shopping Center
|
|
Chalfont
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
|
1989
|
|
46,051
|
|
|
77.7
|
%
|
|
435
|
|
|
12.15
|
|
|
—
|
|
—
|
|
|
||
374
|
|
|
New Britain Village Square
|
|
Chalfont
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
1989
|
|
143,716
|
|
|
93.8
|
%
|
|
2,403
|
|
|
17.83
|
|
|
Giant Food (Ahold)
|
|
Tuesday Morning
|
|
|
|||
375
|
|
|
Collegeville Shopping Center (2)
|
|
Collegeville
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
2017
|
|
111,210
|
|
|
67.7
|
%
|
|
1,063
|
|
|
14.13
|
|
|
Kimberton Whole Foods
|
|
Pep Boys, Rascal Fitness
|
|
|
|||
376
|
|
|
Whitemarsh Shopping Center
|
|
Conshohocken
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
2002
|
|
67,476
|
|
|
100.0
|
%
|
|
1,531
|
|
|
22.69
|
|
|
Giant Food (Ahold)
|
|
Wine & Spirits Shoppe
|
|
|
|||
377
|
|
|
Valley Fair
|
|
Devon
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
2001
|
|
105,086
|
|
|
100.0
|
%
|
|
1,078
|
|
|
10.26
|
|
|
—
|
|
Chuck E. Cheese's, Mealey's Furniture
|
|
|
|||
378
|
|
|
Dickson City Crossings
|
|
Dickson City
|
|
PA
|
|
Scranton--Wilkes-Barre--Hazleton, PA
|
1997
|
|
312,699
|
|
|
91.1
|
%
|
|
3,041
|
|
|
17.76
|
|
|
—
|
|
Dollar Tree, Dick's Sporting Goods, Party City, PetSmart, T.J.Maxx, The Home Depot
|
|
|
|||
379
|
|
|
Dillsburg Shopping Center
|
|
Dillsburg
|
|
PA
|
|
York-Hanover, PA
|
1994
|
|
153,088
|
|
|
92.3
|
%
|
|
1,799
|
|
|
12.99
|
|
|
Giant Food (Ahold)
|
|
Dollar Tree, Rite Aid, Tractor Supply Co.
|
|
|
|||
380
|
|
|
Barn Plaza
|
|
Doylestown
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
|
2002
|
|
237,681
|
|
|
100.0
|
%
|
|
3,398
|
|
|
14.30
|
|
|
—
|
|
Kohl's, Marshalls, Regal Cinemas
|
|
|
||
381
|
|
|
Pilgrim Gardens
|
|
Drexel Hill
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
|
1955
|
|
75,223
|
|
|
100.0
|
%
|
|
1,236
|
|
|
16.43
|
|
|
—
|
|
Dollar Tree, Ross Dress for Less, Tuesday Morning, US Post Office
|
|
|
||
382
|
|
|
Gilbertsville Shopping Center
|
|
Gilbertsville
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
2002
|
|
85,576
|
|
|
95.6
|
%
|
|
834
|
|
|
10.19
|
|
|
Weis Markets
|
|
Anytime Fitness, National Auto Stores, Wine & Spirits
|
|
|
|||
383
|
|
|
Mount Carmel Plaza
|
|
Glenside
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
1975
|
|
14,504
|
|
|
94.1
|
%
|
|
186
|
|
|
13.62
|
|
|
—
|
|
SGS Paper
|
|
|
|||
384
|
|
|
Kline Plaza
|
|
Harrisburg
|
|
PA
|
|
Harrisburg-Carlisle, PA
|
1952
|
|
214,628
|
|
|
87.9
|
%
|
|
1,761
|
|
|
9.33
|
|
|
Giant Food (Ahold)
|
|
Citi Trends
|
|
|
|||
385
|
|
|
New Garden Center
|
|
Kennett Square
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
1979
|
|
144,920
|
|
|
95.3
|
%
|
|
1,053
|
|
|
7.80
|
|
|
—
|
|
Big Lots, Ollie's Bargain Outlet
|
|
|
|||
386
|
|
|
Stone Mill Plaza
|
|
Lancaster
|
|
PA
|
|
Lancaster, PA
|
|
2008
|
|
106,736
|
|
|
100.0
|
%
|
|
1,321
|
|
|
12.38
|
|
|
Giant Food (Ahold)
|
|
—
|
|
|
||
387
|
|
|
Woodbourne Square
|
|
Langhorne
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
1984
|
|
29,821
|
|
|
93.3
|
%
|
|
586
|
|
|
21.06
|
|
|
—
|
|
—
|
|
|
|||
388
|
|
|
North Penn Market Place
|
|
Lansdale
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
|
1977
|
|
58,358
|
|
|
90.7
|
%
|
|
931
|
|
|
18.88
|
|
|
Weis Markets*
|
|
—
|
|
|
||
389
|
|
|
New Holland Shopping Center
|
|
New Holland
|
|
PA
|
|
Lancaster, PA
|
1995
|
|
65,878
|
|
|
100.0
|
%
|
|
568
|
|
|
8.62
|
|
|
Grocery Outlet
|
|
Family Dollar
|
|
|
|||
390
|
|
|
Village at Newtown
|
|
Newtown
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
1989
|
|
176,949
|
|
|
81.9
|
%
|
|
3,684
|
|
|
25.42
|
|
|
McCaffrey's
|
|
Pier 1 Imports
|
|
|
|||
391
|
|
|
Cherry Square
|
|
Northampton
|
|
PA
|
|
Allentown-Bethlehem-Easton, PA-NJ
|
|
1989
|
|
75,005
|
|
|
96.3
|
%
|
|
728
|
|
|
10.08
|
|
|
Redner's Warehouse Market
|
|
—
|
|
|
||
392
|
|
|
Ivyridge
|
|
Philadelphia
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
1963
|
|
106,353
|
|
|
96.1
|
%
|
|
2,471
|
|
|
24.17
|
|
|
—
|
|
Dollar Tree, Target, Wine & Spirits
|
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
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 PSF
|
|
Grocer (1)
|
|
Other Major Tenants
|
|
Non-Owned Major Tenants
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
393
|
|
|
Roosevelt Mall
|
|
Philadelphia
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
|
1964
|
|
561,863
|
|
|
97.2
|
%
|
|
7,844
|
|
|
33.61
|
|
|
—
|
|
Macy's, Modell's Sporting Goods, Rainbow, Ross Dress For Less
|
|
|
||
394
|
|
|
Shoppes at Valley Forge
|
|
Phoenixville
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
2003
|
|
176,676
|
|
|
98.5
|
%
|
|
1,375
|
|
|
7.90
|
|
|
Redner's Warehouse Market
|
|
French Creek Outfitters, Staples
|
|
|
|||
395
|
|
|
County Line Plaza
|
|
Souderton
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
1971
|
|
154,758
|
|
|
100.0
|
%
|
|
1,570
|
|
|
10.54
|
|
|
ALDI
|
|
Dollar Tree, Planet Fitness, Rite Aid, VF Outlet
|
|
|
|||
396
|
|
|
69th Street Plaza
|
|
Upper Darby
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
1994
|
|
41,711
|
|
|
100.0
|
%
|
|
415
|
|
|
9.95
|
|
|
Fresh Grocer (Wakefern)*
|
|
EZ Bargains, Rent-A-Center, Super Dollar City
|
|
|
|||
397
|
|
|
Warminster Towne Center
|
|
Warminster
|
|
PA
|
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
1997
|
|
237,152
|
|
|
100.0
|
%
|
|
3,443
|
|
|
15.75
|
|
|
ShopRite
|
|
A.C. Moore, Kohls, Modell's Sporting Goods, Old Navy, Party City, PetSmart, Ross Dress for Less
|
|
Kohl's
|
|||
398
|
|
|
Shops at Prospect
|
|
West Hempfield
|
|
PA
|
|
Lancaster, PA
|
1994
|
|
63,392
|
|
|
97.6
|
%
|
|
696
|
|
|
11.25
|
|
|
Musser's Markets
|
|
Hallmark
|
|
Kmart
|
|||
399
|
|
|
Whitehall Square
|
|
Whitehall
|
|
PA
|
|
Allentown-Bethlehem-Easton, PA-NJ
|
2006
|
|
315,192
|
|
|
94.8
|
%
|
|
3,423
|
|
|
11.45
|
|
|
Redner's Warehouse Market
|
|
Dollar Tree, Gabriel Brothers, Mealey's Furniture, National Tire & Battery, PetSmart, Ross Dress for Less, Staples
|
|
|
|||
400
|
|
|
Wilkes-Barre Township Marketplace
|
|
Wilkes-Barre
|
|
PA
|
|
Scranton--Wilkes-Barre--Hazleton, PA
|
|
2004
|
|
307,610
|
|
|
94.6
|
%
|
|
2,058
|
|
|
30.04
|
|
|
Walmart Supercenter
|
|
Chuck E Cheese, Cracker Barrel, Party City, Shoe Carnival
|
|
|
||
401
|
|
|
Hunt River Commons
|
|
North Kingstown
|
|
RI
|
|
Providence-Warwick, RI-MA
|
|
1989
|
|
148,126
|
|
|
83.8
|
%
|
|
1,345
|
|
|
10.83
|
|
|
Super Stop & Shop (Ahold)
|
|
Marshalls, Planet Fitness
|
|
|
||
402
|
|
|
Belfair Towne Village
|
Bluffton
|
|
SC
|
|
Hilton Head Island-Bluffton-Beaufort, SC
|
|
2006
|
|
165,039
|
|
|
93.7
|
%
|
|
2,268
|
|
|
14.66
|
|
|
Kroger
|
|
Stein Mart
|
|
|
|||
403
|
|
|
Milestone Plaza
|
|
Greenville
|
|
SC
|
|
Greenville-Anderson-Mauldin, SC
|
|
1995
|
|
89,721
|
|
|
100.0
|
%
|
|
1,573
|
|
|
17.53
|
|
|
BI-LO (Southeastern Grocers)
|
|
—
|
|
|
||
404
|
|
|
Circle Center
|
|
Hilton Head
|
|
SC
|
|
Hilton Head Island-Bluffton-Beaufort, SC
|
|
2000
|
|
65,313
|
|
|
98.2
|
%
|
|
823
|
|
|
12.84
|
|
|
BI-LO (Southeastern Grocers)
|
|
—
|
|
|
||
405
|
|
|
Island Plaza
|
|
James Island
|
|
SC
|
|
Charleston-North Charleston, SC
|
|
1994
|
|
171,224
|
|
|
100.0
|
%
|
|
1,396
|
|
|
8.47
|
|
|
Food Lion (Delhaize)
|
|
Dollar Tree, Gold's Gym, Tuesday Morning
|
|
|
||
406
|
|
|
Festival Centre
|
|
North Charleston
|
|
SC
|
|
Charleston-North Charleston, SC
|
|
1987
|
|
325,347
|
|
|
78.4
|
%
|
|
2,283
|
|
|
9.08
|
|
|
—
|
|
Gold's Gym, Intercontinental Hotels Group, New Spring Church, Sears Outlet
|
|
|
||
407
|
|
|
Remount Village Shopping Center
|
|
North Charleston
|
|
SC
|
|
Charleston-North Charleston, SC
|
|
1996
|
|
60,238
|
|
|
12.0
|
%
|
|
84
|
|
|
11.67
|
|
|
—
|
|
—
|
|
|
||
408
|
|
|
Fairview Corners I & II
|
|
Simpsonville
|
|
SC
|
|
Greenville-Anderson-Mauldin, SC
|
|
2003
|
|
131,002
|
|
|
98.0
|
%
|
|
1,935
|
|
|
15.08
|
|
|
—
|
|
Ross Dress for Less, T.J.Maxx
|
|
Target
|
||
409
|
|
|
Hillcrest Market Place
|
|
Spartanburg
|
|
SC
|
|
Spartanburg, SC
|
|
1965
|
|
360,277
|
|
|
88.9
|
%
|
|
3,573
|
|
|
11.74
|
|
|
Publix
|
|
Marshalls, NCG Cinemas, Office Depot, Petco, Ross Dress for Less, Stein Mart
|
|
|
||
410
|
|
|
Shoppes at Hickory Hollow
|
|
Antioch
|
|
TN
|
|
Nashville-Davidson--Murfreesboro--Franklin, TN
|
|
1986
|
|
144,469
|
|
|
84.9
|
%
|
|
1,366
|
|
|
11.14
|
|
|
Kroger
|
|
Citi Trends
|
|
|
||
411
|
|
|
East Ridge Crossing
|
|
Chattanooga
|
|
TN
|
|
Chattanooga, TN-GA
|
|
1999
|
|
58,950
|
|
|
86.1
|
%
|
|
550
|
|
|
10.84
|
|
|
Food Lion (Delhaize)
|
|
—
|
|
|
||
412
|
|
|
Watson Glen Shopping Center
|
|
Franklin
|
|
TN
|
|
Nashville-Davidson--Murfreesboro--Franklin, TN
|
1988
|
|
265,027
|
|
|
98.9
|
%
|
|
2,686
|
|
|
10.34
|
|
|
ALDI
|
|
At Home, Big Lots, Franklin Athletic Club, Trees n Trends
|
|
|
|||
413
|
|
|
Williamson Square
|
|
Franklin
|
|
TN
|
|
Nashville-Davidson--Murfreesboro--Franklin, TN
|
|
1988
|
|
331,386
|
|
|
98.8
|
%
|
|
3,322
|
|
|
10.15
|
|
|
—
|
|
Grace Church Nashville, Hard Knocks, Hobby Lobby, Planet Fitness, Skyzone, USA Baby
|
|
|
||
414
|
|
|
Greensboro Village
|
|
Gallatin
|
|
TN
|
|
Nashville-Davidson--Murfreesboro--Franklin, TN
|
2005
|
|
70,203
|
|
|
97.7
|
%
|
|
1,004
|
|
|
14.63
|
|
|
Publix
|
|
—
|
|
|
|||
415
|
|
|
Greeneville Commons
|
|
Greeneville
|
|
TN
|
|
Greeneville, TN
|
2002
|
|
228,618
|
|
|
93.6
|
%
|
|
1,538
|
|
|
12.30
|
|
|
—
|
|
Belk, Burkes Outlet, JC Penney, Kmart
|
|
|
|||
416
|
|
|
Oakwood Commons
|
|
Hermitage
|
|
TN
|
|
Nashville-Davidson--Murfreesboro--Franklin, TN
|
1989
|
|
267,558
|
|
|
92.1
|
%
|
|
2,777
|
|
|
11.43
|
|
|
Publix
|
|
Bed Bath & Beyond, Dollar Tree, Goody’s, PetSmart, Ross Dress for Less
|
|
|
|||
417
|
|
|
Kimball Crossing
|
|
Kimball
|
|
TN
|
|
Chattanooga, TN-GA
|
|
2007
|
|
280,476
|
|
|
98.9
|
%
|
|
1,894
|
|
|
7.52
|
|
|
Walmart Supercenter
|
|
Goody's
|
|
Lowe's
|
||
418
|
|
|
Kingston Overlook
|
|
Knoxville
|
|
TN
|
|
Knoxville, TN
|
1996
|
|
122,536
|
|
|
100.0
|
%
|
|
1,136
|
|
|
9.52
|
|
|
—
|
|
Babies"R"Us, Badcock Home Furniture, Sears Outlet
|
|
|
|||
419
|
|
|
Farrar Place
|
|
Manchester
|
|
TN
|
|
Tullahoma-Manchester, TN
|
|
1989
|
|
43,220
|
|
|
100.0
|
%
|
|
388
|
|
|
8.98
|
|
|
Food Lion (Delhaize)
|
|
—
|
|
|
||
420
|
|
|
The Commons at Wolfcreek
|
|
Memphis
|
|
TN
|
|
Memphis, TN-MS-AR
|
|
2014
|
|
659,193
|
|
|
86.4
|
%
|
|
8,647
|
|
|
15.84
|
|
|
—
|
|
Academy Sports + Outdoors, Best Buy, Big Lots, Dave & Busters, David's Bridal, DSW, Office Depot, PetSmart, T.J.Maxx, Value City Furniture
|
|
Target, The Home Depot, Toys"R"Us
|
||
421
|
|
|
Georgetown Square
|
|
Murfreesboro
|
|
TN
|
|
Nashville-Davidson--Murfreesboro--Franklin, TN
|
|
2003
|
|
114,117
|
|
|
85.4
|
%
|
|
1,141
|
|
|
11.71
|
|
|
Kroger
|
|
Aaron's
|
|
|
||
422
|
|
|
Nashboro Village
|
|
Nashville
|
|
TN
|
|
Nashville-Davidson--Murfreesboro--Franklin, TN
|
|
1998
|
|
86,811
|
|
|
100.0
|
%
|
|
1,061
|
|
|
12.22
|
|
|
Kroger
|
|
—
|
|
Walgreens
|
||
423
|
|
|
Commerce Central
|
|
Tullahoma
|
|
TN
|
|
Tullahoma-Manchester, TN
|
1995
|
|
182,401
|
|
|
98.3
|
%
|
|
1,246
|
|
|
6.95
|
|
|
Walmart Supercenter
|
|
Dollar Tree
|
|
|
|||
424
|
|
|
Merchant's Central
|
|
Winchester
|
|
TN
|
|
Tullahoma-Manchester, TN
|
1997
|
|
208,123
|
|
|
95.2
|
%
|
|
1,182
|
|
|
5.97
|
|
|
Walmart Supercenter
|
|
Goody's
|
|
|
|||
425
|
|
|
Palm Plaza
|
|
Aransas
|
|
TX
|
|
Corpus Christi, TX
|
|
2002
|
|
50,475
|
|
|
86.4
|
%
|
|
287
|
|
|
8.01
|
|
|
—
|
|
Bealls (Stage Stores), Family Dollar
|
|
|
||
426
|
|
|
Bardin Place Center
|
|
Arlington
|
|
TX
|
|
Dallas-Fort Worth-Arlington, TX
|
|
1993
|
|
420,550
|
|
|
100.0
|
%
|
|
4,084
|
|
|
9.71
|
|
|
WinCo Foods
|
|
Hemispheres, Hobby Lobby, Ross Dress for Less
|
|
|
||
427
|
|
|
Parmer Crossing
|
|
Austin
|
|
TX
|
|
Austin-Round Rock, TX
|
|
1989
|
|
169,552
|
|
|
100.0
|
%
|
|
1,829
|
|
|
10.79
|
|
|
—
|
|
Big Lots, Dollar Tree, Harbor Freight Tools, Mega Furniture
|
|
Fry's Electronics
|
||
428
|
|
|
Baytown Shopping Center
|
|
Baytown
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
1987
|
|
95,941
|
|
|
82.4
|
%
|
|
875
|
|
|
11.07
|
|
|
—
|
|
24 Hour Fitness
|
|
|
||
429
|
|
|
Cedar Bellaire
|
|
Bellaire
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
1994
|
|
50,967
|
|
|
100.0
|
%
|
|
850
|
|
|
16.68
|
|
|
H-E-B
|
|
—
|
|
|
||
430
|
|
|
El Camino
|
|
Bellaire
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
2008
|
|
71,651
|
|
|
100.0
|
%
|
|
654
|
|
|
9.13
|
|
|
El Ahorro Supermarket
|
|
Dollar Tree, Family Dollar
|
|
|
||
431
|
|
|
Bryan Square
|
|
Bryan
|
|
TX
|
|
College Station-Bryan, TX
|
|
2008
|
|
59,029
|
|
|
100.0
|
%
|
|
328
|
|
|
6.47
|
|
|
—
|
|
99 Cents Only, Citi Trends, Dollar Floor Store, Firestone
|
|
|
||
432
|
|
|
Townshire
|
|
Bryan
|
|
TX
|
|
College Station-Bryan, TX
|
|
2002
|
|
136,887
|
|
|
91.2
|
%
|
|
1,023
|
|
|
8.20
|
|
|
—
|
|
Tops Printing
|
|
|
||
433
|
|
|
Plantation Plaza
|
|
Clute
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
1997
|
|
99,141
|
|
|
99.0
|
%
|
|
832
|
|
|
8.65
|
|
|
—
|
|
Walgreens
|
|
|
||
434
|
|
|
Central Station
|
|
College Station
|
|
TX
|
|
College Station-Bryan, TX
|
|
1976
|
|
176,847
|
|
|
98.0
|
%
|
|
2,732
|
|
|
16.14
|
|
|
—
|
|
OfficeMax, Spec's Liquors, Wally's Party Factory
|
|
Kohl's
|
||
435
|
|
|
Rock Prairie Crossing
|
|
College Station
|
|
TX
|
|
College Station-Bryan, TX
|
|
2002
|
|
118,700
|
|
|
100.0
|
%
|
|
1,378
|
|
|
26.18
|
|
|
Kroger
|
|
CVS
|
|
|
||
436
|
|
|
Carmel Village
|
|
Corpus Christi
|
|
TX
|
|
Corpus Christi, TX
|
|
1993
|
|
85,633
|
|
|
75.3
|
%
|
|
629
|
|
|
9.76
|
|
|
—
|
|
Bay Area Dialysis, Bealls (Stage Stores), Tuesday Morning
|
|
|
||
437
|
|
|
Five Points
|
|
Corpus Christi
|
|
TX
|
|
Corpus Christi, TX
|
|
1985
|
|
276,368
|
|
|
92.3
|
%
|
|
3,194
|
|
|
12.72
|
|
|
—
|
|
Bealls (Stage Stores), Burkes Outlet, Harbor Freight Tools, Hobby Lobby, Party City, Ross Dress for Less
|
|
|
||
438
|
|
|
Claremont Village
|
|
Dallas
|
|
TX
|
|
Dallas-Fort Worth-Arlington, TX
|
|
1976
|
|
66,980
|
|
|
100.0
|
%
|
|
573
|
|
|
8.65
|
|
|
Fiesta Mart
|
|
Family Dollar
|
|
|
Supplemental Disclosure - Three Months Ended June 30, 2017
|
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 PSF
|
|
Grocer (1)
|
|
Other Major Tenants
|
|
Non-Owned Major Tenants
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
439
|
|
|
Jeff Davis
|
|
Dallas
|
|
TX
|
|
Dallas-Fort Worth-Arlington, TX
|
|
1975
|
|
68,962
|
|
|
49.8
|
%
|
|
513
|
|
|
14.95
|
|
|
—
|
|
Family Dollar
|
|
|
||
440
|
|
|
Stevens Park Village
|
|
Dallas
|
|
TX
|
|
Dallas-Fort Worth-Arlington, TX
|
|
1974
|
|
45,492
|
|
|
100.0
|
%
|
|
441
|
|
|
9.69
|
|
|
—
|
|
Big Lots, O'Reilly Auto Parts
|
|
|
||
441
|
|
|
Webb Royal Plaza
|
|
Dallas
|
|
TX
|
|
Dallas-Fort Worth-Arlington, TX
|
|
1961
|
|
108,545
|
|
|
100.0
|
%
|
|
1,115
|
|
|
10.73
|
|
|
El Rio Grande Latin Market
|
|
Family Dollar
|
|
|
||
442
|
|
|
Wynnewood Village
|
|
Dallas
|
|
TX
|
|
Dallas-Fort Worth-Arlington, TX
|
|
2006
|
|
443,681
|
|
|
89.1
|
%
|
|
4,157
|
|
|
10.65
|
|
|
El Rancho, Kroger
|
|
Fallas Paredes, Gen X Clothing, Ross Dress for Less
|
|
|
||
443
|
|
|
Parktown
|
|
Deer Park
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
1999
|
|
121,163
|
|
|
92.5
|
%
|
|
961
|
|
|
8.57
|
|
|
Food Town
|
|
Burkes Outlet, Walgreens
|
|
|
||
444
|
|
|
Kenworthy Crossing
|
|
El Paso
|
|
TX
|
|
El Paso, TX
|
|
2003
|
|
74,393
|
|
|
91.0
|
%
|
|
690
|
|
|
10.20
|
|
|
Albertsons
|
|
—
|
|
|
||
445
|
|
|
Preston Ridge (2)
|
|
Frisco
|
|
TX
|
|
Dallas-Fort Worth-Arlington, TX
|
|
2017
|
|
794,124
|
|
|
96.9
|
%
|
|
15,658
|
|
|
20.67
|
|
|
SuperTarget*
|
|
Best Buy, Big Lots, DSW, Old Navy, Marshalls, Nordstrom Rack, Ross Dress for Less, Saks OFF Fifth, Sheplers, Stein Mart, T.J.Maxx
|
|
|
||
446
|
|
|
Forest Hills Village
|
|
Ft. Worth
|
|
TX
|
|
Dallas-Fort Worth-Arlington, TX
|
|
1968
|
|
69,651
|
|
|
100.0
|
%
|
|
395
|
|
|
5.67
|
|
|
Foodland Markets
|
|
Family Dollar, Hi Style Fashion
|
|
|
||
447
|
|
|
Ridglea Plaza
|
|
Ft. Worth
|
|
TX
|
|
Dallas-Fort Worth-Arlington, TX
|
|
1990
|
|
170,519
|
|
|
97.1
|
%
|
|
1,825
|
|
|
11.02
|
|
|
Tom Thumb (Albertsons)
|
|
Stein Mart
|
|
|
||
448
|
|
|
Trinity Commons
|
|
Ft. Worth
|
|
TX
|
|
Dallas-Fort Worth-Arlington, TX
|
|
1998
|
|
197,423
|
|
|
98.3
|
%
|
|
3,816
|
|
|
19.67
|
|
|
Tom Thumb (Albertsons)
|
|
DSW
|
|
|
||
449
|
|
|
Village Plaza
|
|
Garland
|
|
TX
|
|
Dallas-Fort Worth-Arlington, TX
|
|
2002
|
|
89,241
|
|
|
100.0
|
%
|
|
1,065
|
|
|
11.93
|
|
|
Truong Nguyen Grocer
|
|
—
|
|
|
||
450
|
|
|
North Hills Village
|
|
Haltom City
|
|
TX
|
|
Dallas-Fort Worth-Arlington, TX
|
|
1998
|
|
43,299
|
|
|
85.8
|
%
|
|
272
|
|
|
7.32
|
|
|
—
|
|
Dollar Tree
|
|
|
||
451
|
|
|
Highland Village Town Center
|
|
Highland Village
|
|
TX
|
|
Dallas-Fort Worth-Arlington, TX
|
|
1996
|
|
99,341
|
|
|
25.0
|
%
|
|
327
|
|
|
15.71
|
|
|
—
|
|
—
|
|
|
||
452
|
|
|
Bay Forest
|
|
Houston
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
2004
|
|
71,667
|
|
|
98.3
|
%
|
|
759
|
|
|
10.77
|
|
|
Kroger
|
|
—
|
|
|
||
453
|
|
|
Beltway South
|
|
Houston
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
1998
|
|
107,174
|
|
|
97.0
|
%
|
|
965
|
|
|
28.51
|
|
|
Kroger
|
|
—
|
|
|
||
454
|
|
|
Braes Heights
|
|
Houston
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
2003
|
|
94,086
|
|
|
83.5
|
%
|
|
1,858
|
|
|
23.64
|
|
|
—
|
|
CVS, Imagination Toys, I W Marks Jewelers
|
|
|
||
455
|
|
|
Braes Link
|
|
Houston
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
1999
|
|
30,189
|
|
|
100.0
|
%
|
|
561
|
|
|
18.58
|
|
|
—
|
|
Walgreens
|
|
|
||
456
|
|
|
Braes Oaks Center
|
|
Houston
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
1992
|
|
45,067
|
|
|
88.6
|
%
|
|
436
|
|
|
10.92
|
|
|
H-E-B
|
|
—
|
|
|
||
457
|
|
|
Braesgate
|
|
Houston
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
1997
|
|
91,382
|
|
|
97.4
|
%
|
|
593
|
|
|
6.66
|
|
|
Food Town
|
|
—
|
|
|
||
458
|
|
|
Broadway
|
|
Houston
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
2006
|
|
74,717
|
|
|
100.0
|
%
|
|
772
|
|
|
10.74
|
|
|
El Ahorro Supermarket
|
|
Fallas Paredes, Melrose Fashions
|
|
|
||
459
|
|
|
Clear Lake Camino South
|
|
Houston
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
1964
|
|
105,501
|
|
|
94.1
|
%
|
|
1,432
|
|
|
15.41
|
|
|
ALDI
|
|
24 Hour Fitness, Mr. Gatti's Pizza, Spec's Liquors
|
|
|
||
460
|
|
|
Hearthstone Corners
|
|
Houston
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
1998
|
|
208,147
|
|
|
94.4
|
%
|
|
1,874
|
|
|
9.54
|
|
|
Kroger
|
|
Big Lots, Stein Mart
|
|
|
||
461
|
|
|
Jester Village
|
|
Houston
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
1988
|
|
64,285
|
|
|
77.4
|
%
|
|
528
|
|
|
10.61
|
|
|
H-E-B
|
|
—
|
|
|
||
462
|
|
|
Jones Plaza
|
|
Houston
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
2000
|
|
111,206
|
|
|
66.9
|
%
|
|
763
|
|
|
10.26
|
|
|
—
|
|
Fitness Connection
|
|
|
||
463
|
|
|
Jones Square
|
|
Houston
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
1999
|
|
169,003
|
|
|
100.0
|
%
|
|
1,278
|
|
|
7.66
|
|
|
—
|
|
Big Lots, Hobby Lobby
|
|
|
||
464
|
|
|
Maplewood
|
|
Houston
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
2004
|
|
93,711
|
|
|
97.3
|
%
|
|
771
|
|
|
8.46
|
|
|
Foodarama
|
|
Burke's Outlet
|
|
|
||
465
|
|
|
Merchants Park
|
|
Houston
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
2009
|
|
243,798
|
|
|
100.0
|
%
|
|
3,439
|
|
|
14.11
|
|
|
Kroger
|
|
Big Lots, Petco, Ross Dress for Less, Tuesday Morning
|
|
|
||
466
|
|
|
Northgate
|
|
Houston
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
1972
|
|
40,244
|
|
|
100.0
|
%
|
|
309
|
|
|
7.68
|
|
|
—
|
|
Affordable Furniture, Firestone, Lumber Liquidators, TitleMax
|
|
|
||
467
|
|
|
Northshore
|
|
Houston
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
2001
|
|
231,579
|
|
|
90.4
|
%
|
|
2,736
|
|
|
13.28
|
|
|
Sellers Bros.
|
|
Conn's, Office Depot
|
|
|
||
468
|
|
|
Northtown Plaza
|
|
Houston
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
1960
|
|
190,559
|
|
|
91.5
|
%
|
|
2,063
|
|
|
12.00
|
|
|
—
|
|
99 Cents Only, CVS, dd's Discounts (Ross), Fallas Paredes
|
|
|
||
469
|
|
|
Northwood Plaza
|
|
Houston
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
1972
|
|
136,747
|
|
|
93.1
|
%
|
|
1,447
|
|
|
11.56
|
|
|
Food City
|
|
—
|
|
|
||
470
|
|
|
Orange Grove
|
|
Houston
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
2005
|
|
184,704
|
|
|
99.1
|
%
|
|
1,879
|
|
|
10.70
|
|
|
—
|
|
24 Hour Fitness, FAMSA, Floor & Décor
|
|
|
||
471
|
|
|
Pinemont Shopping Center
|
|
Houston
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
1999
|
|
73,577
|
|
|
92.9
|
%
|
|
911
|
|
|
13.64
|
|
|
—
|
|
Family Dollar, Houston Community College
|
|
|
||
472
|
|
|
Royal Oaks Village
|
|
Houston
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
2001
|
|
144,929
|
|
|
98.2
|
%
|
|
3,243
|
|
|
22.80
|
|
|
H-E-B
|
|
—
|
|
|
||
473
|
|
|
Tanglewilde Center
|
|
Houston
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
1998
|
|
82,565
|
|
|
100.0
|
%
|
|
1,127
|
|
|
13.77
|
|
|
—
|
|
Ace Hardware, Dollar Tree, Party City, Salon In The Park
|
|
|
||
474
|
|
|
Westheimer Commons
|
|
Houston
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
1984
|
|
242,409
|
|
|
85.5
|
%
|
|
1,972
|
|
|
9.51
|
|
|
Fiesta Mart
|
|
Marshalls
|
|
|
||
475
|
|
|
Fry Road Crossing
|
|
Katy
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
2005
|
|
237,340
|
|
|
100.0
|
%
|
|
2,417
|
|
|
10.54
|
|
|
—
|
|
Hobby Lobby, Palais Royal, Stein Mart
|
|
|
||
476
|
|
|
Washington Square
|
|
Kaufman
|
|
TX
|
|
Dallas-Fort Worth-Arlington, TX
|
|
1978
|
|
64,230
|
|
|
82.7
|
%
|
|
348
|
|
|
6.55
|
|
|
—
|
|
AutoZone, Bealls (Stage Stores), Dollar Tree
|
|
|
||
477
|
|
|
Jefferson Park
|
|
Mount Pleasant
|
|
TX
|
|
Mount Pleasant, TX
|
|
2001
|
|
132,096
|
|
|
97.3
|
%
|
|
929
|
|
|
7.34
|
|
|
Super 1 Foods
|
|
Harbor Freight Tools, PetSense
|
|
|
||
478
|
|
|
Winwood Town Center
|
|
Odessa
|
|
TX
|
|
Odessa, TX
|
|
2002
|
|
365,559
|
|
|
93.2
|
%
|
|
2,665
|
|
|
13.10
|
|
|
H-E-B
|
|
Office Depot, Ross Dress for Less, Target
|
|
|
||
479
|
|
|
Crossroads Centre - Pasadena
|
|
Pasadena
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
1997
|
|
134,006
|
|
|
77.8
|
%
|
|
1,303
|
|
|
13.65
|
|
|
Kroger
|
|
—
|
|
|
||
480
|
|
|
Spencer Square
|
|
Pasadena
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
1998
|
|
194,470
|
|
|
94.0
|
%
|
|
2,212
|
|
|
12.10
|
|
|
Kroger
|
|
Burkes Outlet
|
|
|
||
481
|
|
|
Pearland Plaza
|
|
Pearland
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
1995
|
|
156,491
|
|
|
81.6
|
%
|
|
1,157
|
|
|
9.06
|
|
|
Kroger
|
|
Harbor Freight Tools, Walgreens
|
|
|
||
482
|
|
|
Market Plaza
|
|
Plano
|
|
TX
|
|
Dallas-Fort Worth-Arlington, TX
|
|
2002
|
|
167,804
|
|
|
72.6
|
%
|
|
2,794
|
|
|
24.03
|
|
|
Central Market (H-E-B)
|
|
—
|
|
|
||
483
|
|
|
Preston Park Village
|
|
Plano
|
|
TX
|
|
Dallas-Fort Worth-Arlington, TX
|
|
1985
|
|
270,128
|
|
|
90.2
|
%
|
|
6,101
|
|
|
25.03
|
|
|
Kroger
|
|
Infinite Bounds Gymnastics
|
|
|
||
484
|
|
|
Northshore Plaza
|
|
Portland
|
|
TX
|
|
Corpus Christi, TX
|
|
2000
|
|
152,144
|
|
|
98.4
|
%
|
|
1,050
|
|
|
14.00
|
|
|
H-E-B
|
|
Bealls (Stage Stores)
|
|
Kmart
|
||
485
|
|
|
Klein Square
|
|
Spring
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
1999
|
|
80,636
|
|
|
98.3
|
%
|
|
860
|
|
|
10.85
|
|
|
Food Town
|
|
Family Dollar, Petco
|
|
|
||
486
|
|
|
Keegan's Meadow
|
|
Stafford
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
1999
|
|
125,293
|
|
|
91.0
|
%
|
|
1,202
|
|
|
10.87
|
|
|
Randalls (Albertsons)
|
|
Palais Royal
|
|
|
||
487
|
|
|
Texas City Bay
|
|
Texas City
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
2005
|
|
223,152
|
|
|
53.6
|
%
|
|
1,178
|
|
|
9.91
|
|
|
Kroger
|
|
—
|
|
|
||
488
|
|
|
Windvale Center
|
|
The Woodlands
|
|
TX
|
|
Houston-The Woodlands-Sugar Land, TX
|
|
2002
|
|
101,088
|
|
|
91.5
|
%
|
|
997
|
|
|
28.38
|
|
|
Randalls (Albertsons)
|
|
—
|
|
|
||
489
|
|
|
The Centre at Navarro
|
|
Victoria
|
|
TX
|
|
Victoria, TX
|
|
2005
|
|
66,102
|
|
|
58.5
|
%
|
|
484
|
|
|
23.54
|
|
|
ALDI
|
|
Walgreens
|
|
|
||
490
|
|
|
Spradlin Farm
|
|
Christiansburg
|
|
VA
|
|
Blacksburg-Christiansburg-Radford, VA
|
|
2000
|
|
181,055
|
|
|
100.0
|
%
|
|
2,717
|
|
|
15.26
|
|
|
—
|
|
Barnes & Noble, Big Lots, Michaels, Petco, T.J.Maxx
|
|
Target, The Home Depot
|
Supplemental Disclosure - Three Months Ended June 30, 2017
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Page
46
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Supplemental Disclosure - Three Months Ended June 30, 2017
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Page
47
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GUIDANCE
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Supplemental Disclosure
Three Months Ended June 30, 2017
|
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Supplemental Disclosure - Three Months Ended June 30, 2017
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