EX-99.1 2 bpg8ka05082014ex991.htm EX99.1 Q12014 Supplemental Amend
Exhibit 99.1





 
 
 
 
 
 
 
 
Supplemental Disclosure

Three Months Ended March 31, 2014
 






 
Brixmor Property Group
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
Table of Contents
 
 
 
 
 
 
 
 
 
Page
 
 
Glossary of Terms
 
 
 
Results Overview
 
 
 
Financial Summary
 
 
 
 
 
Consolidated Balance Sheets
 
 
 
Consolidated Statements of Operations
 
 
 
Consolidated Statements of Cash Flows
 
 
 
Reconciliation of Net Income (Loss) to EBITDA
 
 
 
Reconciliation of Net Income (Loss) to Funds From Operations
 
 
 
Supplemental Balance Sheet Detail
 
 
 
Net Operating Income Detail, Supplemental Statements of Operations Detail, Operating Ratios & Additional Disclosures
 
 
 
Same Property NOI Analysis & Reconciliation to Net Loss Attributable to Common Stockholders
 
 
 
Capital Expenditures
 
 
 
Capitalization, Liquidity & Debt Ratios
 
 
 
Debt Overview
 
 
 
Summary of Outstanding Debt
 
 
 
Unsecured Credit Facility Covenant Disclosure
 
 
 
Reconciliation of GAAP Balance Sheet to Pro Forma Balance Sheet
 
 
 
Reconciliation of GAAP Statements of Operations to Pro Forma Statements of Operations
 
 
Transaction Summary
 
 
 
 
 
Acquisitions
 
 
 
Dispositions
 
 
IPO Portfolio Summary
 
 
 
 
 
Portfolio Overview
 
 
 
Top Forty Retailers Ranked by ABR
 
 
 
New & Renewal Lease Summary
 
 
 
New Lease Net Effective Rent
 
 
 
Anchor Space Repositioning Summary
 
 
 
Lease Expiration Schedule
 
 
 
Redevelopment Summary
 
 
 
Properties by Largest US MSAs
 
 
 
Largest MSAs by ABR
 
 
 
Properties by State
 
 
 
Property List
 
 
Guidance
 
 
 
 
 
Guidance & Additional Disclosures
 
 
 
 
 
 
 
 
 
 
 
 
 
This presentation includes financial information for the Company’s actual results and the IPO portfolio on a pro forma basis giving effect to the company’s initial public offering completed on November 4, 2013. The company is also providing certain property related performance data for the IPO portfolio.
 
 
 
 
 
 
 
Note: Financial information is unaudited.
 
 
 
For additional information visit: www.brixmor.com.
 
 
 
 
 
 
 
 
 
This Supplemental Disclosure may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to the Company’s expectations regarding the performance of its business, its financial results, its liquidity and capital resources and other non-historical statements. You can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including those described under the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013 filed with the SEC on March 12, 2014, 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.
 
 
 
 
 
 
 






Brixmor Property Group
 
Supplemental Disclosure - Three Months Ended March 31, 2014
Glossary of Terms
 
 
Term
Definition
 
 
 
 
Acquired Properties
Includes 43 properties contributed to the portfolio by certain investment funds affiliated with The Blackstone Group L.P. in connection with the IPO
 
 
completed on November 4, 2013. The Acquired Properties were acquired in exchange for units in the Operating Partnership ("OP Units").
 
 
 
 
Anchor Spaces
Means space equal to or more than 10,000 sq. ft. of GLA.
 
 
 
 
Anchor Space Repositioning
Anchor leasing that is primarily focused on reconfiguring or remerchandising existing space with minimal work required outside of normal tenant
 
 
improvement costs.
 
 
 
 
Annualized Base Rent or "ABR"
As of a specified date means monthly base rent as of such date, under leases which have been signed or commenced as of the specified date multiplied
 
 
by 12. Annualized base rent (i) excludes tenant reimbursements or expenses borne by the tenants, such as the expenses for real estate taxes and
 
 
insurance and common area and other operating expenses, (ii) does not reflect amounts due per percentage rent lease terms, (iii) is calculated on a
 
 
cash basis and differs from how rent is calculated in accordance with GAAP for purposes of financial statements and (iv) does not include any ancillary
 
 
income at a property.
 
 
 
 
ABR per sq. ft. or "ABR/SF"
Is calculated as ABR divided by leased GLA, excluding ground leases.
 
 
 
 
Billed GLA
Includes leases for spaces where the tenant is currently paying rent.
 
 
 
 
Blended Lease Spreads
Means combined spreads for new and renewal leases (including exercised options) on comparable leases.
 
 
 
 
Capitalization Rate ("Cap Rate")
Net operating income divided by purchase price.
 
 
 
 
Community Shopping Center
Means a shopping center that meets the International Council of Shopping Centers’ (“ICSC”) definition of community center. ICSC generally defines a
 
 
community center as a shopping center with general merchandise or convenience-oriented merchandise. Although similar to a neighborhood center
 
 
(as defined below), a community shopping center offers a wider range of apparel and other soft goods than a neighborhood center. Community
 
 
centers range from 125,000 to 400,000 sq. ft. in GLA and are usually configured in a straight line as a strip and are commonly anchored by discount
 
 
stores, supermarkets, drugstores and large specialty discount stores.
 
 
 
 
Comparable Leases
Include only those spaces that were occupied within the prior 12 months.
 
 
 
 
EBITDA & Adjusted EBITDA
Is calculated as the sum of net income (loss) in accordance with generally accepted accounting principles in the United States of America (“GAAP”)
 
 
before interest expense, income taxes, depreciation and amortization, and after adjustments attributable to non-controlling interests not
 
 
convertible into common stock. Adjusted EBITDA represents EBITDA as adjusted for (i) acquisition related costs, (ii) gain (loss) on disposition
 
 
of operating properties, (iii) impairment of real estate assets and real estate equity investments, (iv) gain (loss) on disposition of unconsolidated joint
 
 
ventures, (v) gain (loss) on extinguishment of debt, and (vi) adjustments attributable to non-controlling interests not convertible into common stock.
 
 
EBITDA and Adjusted EBITDA are supplemental, non-GAAP measures utilized in various financial ratios and are helpful to securities analysts, investors and

Page 1




Brixmor Property Group
 
Supplemental Disclosure - Three Months Ended March 31, 2014
Glossary of Terms
 
 
Term
Definition
 
 
other interested parties in the evaluation of REITs, as a measure of Brixmor’s operational performance because EBITDA and Adjusted EBITDA exclude
 
 
various items that do not relate to or are not indicative of its operating performance. In addition, it includes the results of operations of real estate
 
 
properties that have been sold or classified as real estate held for sale at the end of the reporting period. Accordingly, the use of EBITDA and Adjusted
 
 
EBITDA in various ratios provides a meaningful performance measure as it relates to its ability to meet various coverage tests for the stated period.
 
 
EBITDA and Adjusted EBITDA should not be considered as alternatives to net income (determined in accordance with GAAP) as indicators of financial
 
 
performance and are not alternatives to cash flow from operating activities (determined in accordance with GAAP) as a measure of liquidity. Non-GAAP
 
 
financial measures have limitations as they do not include all items of income and expense that affect operations, and accordingly, should always be
 
 
considered as supplemental to financial results presented in accordance with GAAP. Computation of EBITDA and Adjusted EBITDA may differ in certain
 
 
respects from the methodology utilized by other REITs and, therefore, may not be comparable to such other REITs. Investors are cautioned that items
 
 
excluded from EBITDA and Adjusted EBITDA are significant components in understanding and addressing financial performance.
 
 
 
 
Excluded Properties
Includes 47 properties either distributed to certain investment funds affiliated with the Blackstone Group L.P. in connection with the IPO completed on
 
 
November 4, 2013 or sold.
 
 
 
 
Financial Liabilities
Represents certain fixed obligations including capital leases.
 
 
 
 
Funds From Operations (“FFO")
Is calculated as the sum of net income (loss) in accordance with GAAP excluding (i) gain (loss) on disposition of operating properties, and (ii) extraordinary
 
 
items, plus (iii) depreciation and amortization of operating properties, (iv) impairment of operating properties and real estate equity investments,
 
 
(v) after adjustments for joint ventures calculated to reflect funds from operations on the same basis, and (vi) after adjustments attributable
 
 
to non-controlling interests not convertible in common stock.
 
 
FFO is a supplemental, non-GAAP measure utilized to evaluate the operating performance of real estate companies. It is frequently used by securities
 
 
analysts, investors and other interested parties in the evaluation of REITs. FFO should not be considered as an alternative to net income (determined in
 
 
accordance with GAAP) as an indicator of financial performance and is not an alternative to cash flow from operating activities (determined in accordance
 
 
with GAAP) as a measure of liquidity. Non-GAAP financial measures have limitations as they do not include all items of income and expense that affect
 
 
operations, and accordingly, should always be considered as supplemental to financial results presented in accordance with GAAP. Computation of FFO
 
 
may differ in certain respects from the methodology utilized by other REITs and, therefore, may not be comparable to such other REITs. Investors are
 
 
cautioned that items excluded from FFO are significant components in understanding and addressing financial performance.
 
 
 
 
Gross Leasable Area or "GLA"
Represents the total amount of property square footage that can generate income by being leased to tenants.
 
 
 
 
Ground Lease
A long-term lease of land in which the tenant erects improvements at its own expense. At the end of the lease term, the improvements become the
 
 
property of the landowner.
 
 
 
 
IPO Portfolio
Includes all properties owned as of the completion of the IPO on November 4, 2013. This portfolio includes the Acquired Properties and excludes the
 
 
Excluded Properties.
 
 
 
 
Leased GLA
Includes the aggregate GLA of all leases in effect on a given date, including those that are fully executed but as to which the tenant has not yet opened
 
 
for business and/or not yet commenced the payment of rent.

Page 2




Brixmor Property Group
 
Supplemental Disclosure - Three Months Ended March 31, 2014
Glossary of Terms
 
 
Term
Definition
 
 
 
 
LIBOR
Means London Interbank Offered Rate.
 
 
 
 
Metropolitan Statistical Area or "MSA"
Is defined by the United States Office of Management and Budget (“OMB”) as a region associated with at least one urbanized area that has a
 
 
population of at least 50,000 and comprises the central county or counties containing the core, plus adjacent outlying counties having a high degree of
 
 
social and economic integration with the central county or counties as measured through commuting.
 
 
 
 
Neighborhood Shopping Center
Means a shopping center that meets ICSC’s definition of neighborhood center. ICSC generally defines a neighborhood center as a shopping center with
 
 
offerings that are convenience-oriented. Neighborhood centers range from 30,000 to 125,000 sq. ft. in GLA and are generally anchored by a
 
 
supermarket.
 
 
 
 
Net Effective Rent
Adjusts for any tenant incentive / allowance, landlord work, third party leasing commissions and rent concessions at 100% of costs, weighted by GLA over
 
 
the lease term.
 
 
 
 
Net Operating Income or "NOI"
Is calculated as total property revenues (minimum rent, percentage rents, and recoveries from tenants and other income) less direct property operating
 
 
expenses (operating and maintenance and real estate taxes) from the properties owned by Brixmor. NOI excludes corporate level income (including
 
 
management, transaction, and other fees).
 
 
NOI is a supplemental, non-GAAP measure utilized to evaluate the operating performance of real estate companies and is frequently used by securities
 
 
analysts, investors and other interested parties in understanding business and operating results regarding the underlying economics of Brixmor's business
 
 
operations. NOI is not intended to be a performance measure that should be regarded as an alternative to, or more meaningful than, net income
 
 
(determined in accordance with GAAP) or other GAAP financial measures. Non-GAAP financial measures have limitations as they do not include all items
 
 
of income and expense that affect operations, and accordingly, should always be considered as supplemental to financial results presented in accordance
 
 
with GAAP. Computation of NOI may differ in certain respects from the methodology utilized by other REITs and, therefore, may not be comparable to
 
 
such other REITs.
 
 
 
 
NOI Yield
Is calculated as projected NOI over incremental cost of a given anchor space repositioning / redevelopment project.
 
 
 
 
Non-controlling Interests
The non-controlling interests relate to portions of consolidated subsidiaries held by the non-controlling interest holders. The Company's material
 
 
subsidiaries include a corporation, BPG Subsidiary Inc. (“BPG Sub”), and the Brixmor Operating Partnership ("OP"). As of March 31, 2014, the Company
 
 
owns 79.68% of BPG Sub and is entitled to receive 79.68% of all net income and gains before depreciation. The remaining 20.32% is held by Blackstone
 
 
Retail Transaction II Holdco L.P. (“Holdco II”) an affiliate of BREP VI and management of the Company. As of March 31, 2014, BPG Sub owns 94.75%
 
 
of the OP. The remaining 5.25% is held by certain investment funds affiliated with the Blackstone Group L.P. and management of the Company. As of
 
 
March 31, 2014 the Company owns 75.5% of BPG Sub and the OP on a combined basis.
 
 
 
 
Non-owned Major Tenant
Also called shadow anchor. Includes tenants that are situated on parcels which are owned by unrelated third parties, but, due to their location within
 
 
or immediately adjacent to shopping center, to the consumer appear as another retail tenant of the shopping center and, as a result, attract additional
 
 
customer traffic to the center.
 
 
 
 
Percent Leased
Refers to the percentage of GLA that is leased, includes lease agreements that have been signed but not yet commenced.

Page 3




Brixmor Property Group
 
Supplemental Disclosure - Three Months Ended March 31, 2014
Glossary of Terms
 
 
Term
Definition
 
 
 
 
Pro Forma
Reflects the impact of the following transactions associated with the IPO including (i) the contribution of the Acquired Properties (ii) the distribution of
 
 
the Excluded Properties (iii) the acquisition of the interest not already held in Arapahoe Crossings L.P. (iv) borrowings under the Unsecured Credit
 
 
Facility, including the use thereof and (v) the net proceeds from the IPO, including the use thereof. The pro forma adjustments associated with these
 
 
transactions assume that each transaction was completed as of December 31, 2013 for the purposes of the unaudited pro forma consolidated balance
 
 
sheet and as of January 1, 2014 and January 1, 2013, respectively, for the purposes of the unaudited pro forma consolidated statement of operations.
 
 
 
 
PSF
Means per square foot ("sq. ft.") of GLA.
 
 
 
 
Redevelopment Properties
Larger scale projects that typically involve substantial demolition of a portion of the shopping center to accommodate new retailers. These projects
 
 
typically are accompanied with new construction and site infrastructure costs.
 
 
 
 
Renewal Leases
Includes expiring leases renewed with the same tenant or the exercise of options by tenants to extend the term of expiring leases. All other leases are
 
 
categorized as new.
 
 
 
 
Rent Growth
Is calculated as ABR in the final year of the lease compared to ABR in the first year of the new lease. New lease spreads include only those spaces that were
 
 
occupied within the prior 12 months. Renewal and option lease spreads include leases rolling over with the same tenant in the same location. Data includes
 
 
all leases in effect, including those that are fully executed, but not yet open.
 
 
 
 
Same Property Net Operating Income
Is calculated (using properties owned as of the end of both reporting periods and for the entirety of both periods excluding properties classified as
 
or Same Property NOI
discontinued operations), as rental income (minimum rent, percentage rents, tenant recoveries and other property income) less rental operating
 
 
expenses (property operating expenses, real estate taxes and bad debt expense) of the properties owned by Brixmor. Same property NOI excludes
 
 
corporate level income (including transaction and other fees), lease termination income, straight-line rent and amortization of above- and below-market
 
 
leases of the same property pool from the prior year reporting period to the current year reporting period.
 
 
Same property NOI is a supplemental, non-GAAP financial measure utilized to evaluate the operating performance of real estate companies and is
 
 
frequently used by securities analysts, investors and other interested parties in understanding business and operating results regarding the underlying
 
 
economics of Brixmor's business operations. It includes only the net operating income of properties owned for the full period presented, which eliminates
 
 
disparities in net income due to the acquisition or disposition of properties during the period presented, and therefore, provides a more consistent metric
 
 
for comparing the performance of properties. Management uses same property NOI to review operating results for comparative purposes with respect to
 
 
previous periods or forecasts, and also to evaluate future prospects. Same property NOI is not intended to be a performance measure that should be
 
 
regarded as an alternative to, or more meaningful than, net income (determined in accordance with GAAP) or other GAAP financial measures. Non-GAAP
 
 
financial measures have limitations as they do not include all items of income and expense that affect operations, and accordingly, should always be
 
 
considered as supplemental to financial results presented in accordance with GAAP. Computation of same property NOI may differ in certain respects
 
 
from the methodology utilized by other REITs and, therefore, may not be comparable to such other REITs.
 
 
 
 
Small Shop Spaces
Means space of less than 10,000 sq. ft. of GLA.
 
 
 
 
Straight-line Rent
GAAP requirement to average the tenant's rent payments over the life of the lease, regardless of actual cash collected in the period.
 
 
 

Page 4




Brixmor Property Group
 
Supplemental Disclosure - Three Months Ended March 31, 2014
Glossary of Terms
 
 
Term
Definition
 
Year Built
Year of most recent anchor space repositioning / redevelopment or year built if no redevelopment has occurred.


Page 5




Brixmor Property Group
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
 
 
 
 
Results Overview (Unaudited, dollars in thousands except per share and per square foot amounts)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pro Forma
 
Actual Results
 
 
Summary Financial Results
 
Three Months Ended 3/31/14
 
Three Months Ended 3/31/13
 
Three Months Ended 3/31/14
 
 
 
Total revenues (page 9)
 
$
307,696

 
$
297,407

 
$
307,696

 
 
 
Net income (loss) attributable to common stockholders (page 9)
 
15,400

 
(1,718
)
 
15,401

 
 
 
Net income (loss) attributable to common stockholders - per diluted share (page 9)
 
0.07

 
(0.01
)
 
0.07

 
 
 
Adjusted EBITDA (page 11)
 
204,536

 
195,134

 
204,536

 
 
 
FFO (page 12)
 
132,678

 
120,667

 
132,678

 
 
 
FFO per share/OP Unit - diluted (page 12)
 
0.44

 
0.40

 
0.44

 
 
 
Dividends declared per share/OP Unit (page 12)
 
0.20

 

 
0.20

 
 
 
Share/OP Unit dividend payout ratio (as % of FFO) (page 12)
 
45.9
%
 

 
45.9
%
 
 
 
Net operating income (NOI) (page 14)
 
225,088

 
218,140

 
225,088

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pro Forma
 
 
 
 
Summary Operating and Financial Ratios
 
Three Months Ended 3/31/14
 
Three Months Ended 12/31/13
 
 
 
 
 
NOI margin (page 14)
 
73.2
%
 
74.0
%
 
 
 
 
 
Same property NOI (page 15) (1)
 
3.8
%
 
3.9
%
 
 
 
 
 
Fixed charge coverage (page 17)
 
2.7x

 
2.6x

 
 
 
 
 
Net principal debt to adjusted EBITDA (GAAP) (page 17)
 
7.2x

 
7.1x

 
 
 
 
 
Net principal debt to adjusted EBITDA (cash) (page 17)
 
7.8x

 
7.7x

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding Classes of Stock and Partnership Units
 
At 3/31/14
 
At 12/31/13
 
 
 
 
 
Common shares outstanding (page 17)
 
229,680

 
229,680

 
 
 
 
 
Exchangeable BPG Sub shares held by non-controlling interests (page 17)
 
58,663

 
58,663

 
 
 
 
 
Exchangeable OP Units held by non-controlling interests (page 17)
 
15,878

 
15,878

 
 
 
 
 
Total
 
304,221

 
304,221

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Summary Portfolio Statistics
 
At 3/31/14
 
At 12/31/13
 
 
 
 
 
Number of properties (page 29)
 
522

 
522

 
 
 
 
 
GLA (page 29)
 
86,718,016

 
86,806,352

 
 
 
 
 
Percent leased (page 29)
 
92.3
%
 
92.4
%
 
 
 
 
 
Percent billed (page 29)
 
90.5
%
 
90.7
%
 
 
 
 
 
ABR / SF (page 29)
 
$
12.01

 
$
11.93

 
 
 
 
 
Total rent spread (page 32)
 
11.3
%
 
11.0
%
 
 
 
 
 
New lease rent spread (page 32)
 
21.0
%
 
24.8
%
 
 
 
 
 
Renewal lease rent spread (page 32)
 
9.5
%
 
8.5
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Excludes Acquired Properties and Excluded Properties. Includes joint venture, Montecito Marketplace at pro rata share.




Page 6






 
 
 
 
 
 
 
 
Financial Summary

Supplemental Disclosure
Three Months Ended March 31, 2014
 






Brixmor Property Group
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
 
 
Consolidated Balance Sheets (Unaudited, dollars in thousands, except share information)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Actual Results
 
Pro Forma
 
 
 
 
 
3/31/14
 
12/31/13
 
12/31/13
 
Assets
 
 
 
 
 
 
 
 
 
Real estate
 
 
 
 
 
 
 
 
Land
$
1,998,902

 
$
2,055,802

 
$
1,989,160

 
 
 
Buildings and improvements
8,674,870

 
8,781,926

 
8,654,899

 
 
 
 
 
10,673,772

 
10,837,728

 
10,644,059

 
 
 
Accumulated depreciation and amortization
(1,260,355
)
 
(1,190,170
)
 
(1,160,478
)
 
 
Real estate, net
9,413,417

 
9,647,558

 
9,483,581

 
 
Investments in and advances to unconsolidated joint ventures
5,087

 
9,205

 
5,171

 
 
Cash and cash equivalents
55,696

 
113,915

 
95,332

 
 
Restricted cash
65,417

 
75,457

 
74,847

 
 
Marketable securities
25,414

 
22,104

 
22,104

 
 
Receivables, net
167,780

 
178,505

 
175,584

 
 
Deferred charges and prepaid expenses, net
104,393

 
105,522

 
103,237

 
 
Other assets
13,605

 
19,650

 
14,043

 
Total assets
$
9,850,809

 
$
10,171,916

 
$
9,973,899

 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
Debt obligations, net
$
5,975,891

 
$
5,981,289

 
$
5,965,307

 
 
Financing liabilities, net
121,470

 
175,111

 
175,111

 
 
Accounts payable, accrued expenses and other liabilities
660,826

 
709,529

 
701,495

 
Total liabilities
6,758,187

 
6,865,929

 
6,841,913

 
 
 
 
 
 
 
 
 
 
 
Redeemable non-controlling interests
21,467

 
21,467

 
21,467

 
Commitments and contingencies

 

 

 
 
 
 
 
 
 
 
 
 
 
Equity
 
 
 
 
 
 
 
 
 
Common stock, $0.01 par value, authorized 3,000,000,000 shares,
 
 
 
 
 
 
 
 
229,689,960 shares outstanding
2,297

 
2,297

 
2,297

 
 
Additional paid in capital
2,551,947

 
2,543,690

 
2,543,690

 
 
Accumulated other comprehensive loss
(6,608
)
 
(6,812
)
 
(6,812
)
 
 
Distributions and accumulated losses
(227,323
)
 
(196,707
)
 
(196,707
)
 
Total stockholders' equity
2,320,313

 
2,342,468

 
2,342,468

 
 
Non-controlling interests
750,842

 
942,052

 
768,051

 
Total equity
3,071,155

 
3,284,520

 
3,110,519

 
Total liabilities and equity
$
9,850,809

 
$
10,171,916

 
$
9,973,899



Page 8




Brixmor Property Group
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
 
 
 
 
Consolidated Statements of Operations (Unaudited, dollars in thousands, except per share amounts)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pro Forma
 
Actual Results
 
 
 
 
 
Three Months
 
Three Months
 
Three Months
 
Three Months
 
 
 
 
 
Ended 3/31/14
 
Ended 3/31/13
 
Ended 3/31/14
 
Ended 3/31/13
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
Rental income
$
237,260

 
$
231,329

 
$
237,260

 
$
214,558

 
 
Expense reimbursements
68,623

 
63,674

 
68,623

 
59,603

 
 
Other revenues
1,813

 
2,404

 
1,813

 
3,157

 
Total revenues
307,696

 
297,407

 
307,696

 
277,318

 
 
 
 
 
 
 
 
 
 
 
 
 
Operating expenses
 
 
 
 
 
 
 
 
 
Operating costs
34,888

 
32,204

 
34,888

 
29,846

 
 
Real estate taxes
44,446

 
44,064

 
44,446

 
41,700

 
 
Depreciation and amortization
113,268

 
123,371

 
113,268

 
111,777

 
 
Provision for doubtful accounts
2,877

 
2,478

 
2,877

 
2,324

 
 
General and administrative
19,658

 
23,395

 
19,658

 
23,068

 
Total operating expenses
215,137

 
225,512

 
215,137

 
208,715

 
 
 
 
 
 
 
 
 
 
 
 
 
Other income (expense)
 
 
 
 
 
 
 
 
 
Dividends and interest
108

 
183

 
108

 
181

 
 
Interest expense
(67,966
)
 
(72,960
)
 
(67,966
)
 
(91,871
)
 
 
Gain (loss) on sale of real estate assets
378

 
(161
)
 
378

 

 
 
Gain (loss) on extinguishment of debt, net
(2,276
)
 

 
(2,276
)
 
2,150

 
 
Other
 
(2,161
)
 
(960
)
 
(2,161
)
 
(960
)
 
Total other income (expense)
(71,917
)
 
(73,898
)
 
(71,917
)
 
(90,500
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) before equity in income of unconsolidated joint ventures
20,642

 
(2,003
)
 
20,642

 
(21,897
)
 
Equity in income of unconsolidated joint ventures
78

 
57

 
65

 
247

 
Gain on disposal of investments in unconsolidated joint ventures

 

 
1,820

 

 
Income (loss) from continuing operations
20,720

 
(1,946
)
 
22,527

 
(21,650
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Discontinued operations
 
 
 
 
 
 
 
 
 
Income (loss) from discontinued operations

 

 
4,787

 
(763
)
 
 
Gain on disposition of operating properties

 

 
14,426

 

 
 
Impairment on real estate held for sale

 

 

 
(3,033
)
 
Income (loss) from discontinued operations

 

 
19,213

 
(3,796
)
 
Net income (loss)
20,720

 
(1,946
)
 
41,740

 
(25,446
)
 
Non-controlling interests
 
 
 
 
 
 
 
 
 
Net (income) loss attributable to non-controlling interests
(5,320
)
 
228

 
(26,339
)
 
5,947

 
Net income (loss) attributable to common stockholders
$
15,400

 
$
(1,718
)
 
$
15,401

 
$
(19,499
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Per common share:
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations:
 
 
 
 
 
 
 
 
 
 
Basic
$
0.07

 
$
(0.01
)
 
$
0.07

 
$
(0.09
)
 
 
 
Diluted
$
0.07

 
$
(0.01
)
 
$
0.07

 
$
(0.09
)
 
 
Net income (loss) attributable to common stockholders:
 
 
 
 
 
 
 
 
 
 
Basic
$
0.07

 
$
(0.01
)
 
$
0.07

 
$
(0.11
)
 
 
 
Diluted
$
0.07

 
$
(0.01
)
 
$
0.07

 
$
(0.11
)
 
 
Weighted average number of vested common shares:
 
 
 
 
 
 
 
 
 
 
Basic
228,113

 
228,113

 
228,113

 
180,675

 
 
 
Diluted
229,365

 
228,113

 
229,365

 
180,675



Page 9




Brixmor Property Group
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
Consolidated Statements of Cash Flows (Unaudited, dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Actual Results
 
 
 
 
 
Three Months Ended
 
 
 
 
 
3/31/14
 
3/31/13
 
 
 
 
 
 
 
 
 
Operating activities:
 
 
 
 
Net income (loss)
$
41,740

 
$
(25,446
)
 
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
 
 
 
 
 
Depreciation and amortization
113,699

 
115,637

 
 
Debt premium and discount amortization
(5,467
)
 
(5,733
)
 
 
Deferred financing cost amortization
2,522

 
2,957

 
 
Above- and below-market lease intangible amortization
(11,580
)
 
(12,277
)
 
 
Provisions of impairment

 
3,033

 
 
Gain on disposition of real estate assets and unconsolidated joint ventures
(16,624
)
 

 
 
Equity based compensation
2,117

 
1,605

 
 
Other
 
(53
)
 
(247
)
 
 
Gain on extinguishment of debt, net
(3,831
)
 
(2,150
)
 
Changes in operating assets and liabilities:
 
 
 
 
 
Restricted cash
8,055

 
(5,613
)
 
 
Receivables
9,327

 
(13,905
)
 
 
Deferred charges and prepaid expenses
(4,598
)
 
(4,528
)
 
 
Other assets
69

 
40

 
 
Accounts payable, accrued expenses and other liabilities
(48,800
)
 
(19,746
)
 
Net cash provided by operating activities
86,576

 
33,627

 
 
 
 
 
 
 
 
 
Investing activities:
 
 
 
 
 
Improvements to and investments in real estate assets
(40,475
)
 
(35,278
)
 
 
Proceeds from sales of real estate assets
2,778

 
10,903

 
 
Distributions from unconsolidated joint ventures
132

 
109

 
 
Change in restricted cash attributable to investing activities
1,096

 
1,827

 
 
Purchase of marketable securities
(8,156
)
 
(411
)
 
 
Proceeds from sales of marketable securities
4,851

 

 
Net cash used in investing activities
(39,774
)
 
(22,850
)
 
 
 
 
 
 
 
 
 
Financing activities:
 
 
 
 
 
Repayment of debt obligations and financing liabilities
(698,011
)
 
(50,203
)
 
 
Proceeds from debt obligations

 
57,000

 
 
Repayment of borrowings under unsecured revolving credit facility
(637,047
)
 

 
 
Proceeds from borrowings under unsecured credit facility
689,874

 

 
 
Proceeds from unsecured term loan
600,000

 

 
 
Deferred financing costs
(2,953
)
 
(1,426
)
 
 
Distributions to stockholders
(29,170
)
 
(9,456
)
 
 
Distributions to non-controlling interests and other
(27,714
)
 
(3,398
)
 
Net cash used in financing activities
(105,021
)
 
(7,483
)
 
Change in cash and cash equivalents
(58,219
)
 
3,294

 
Cash and cash equivalents at beginning of period
113,915

 
103,098

 
 
 
 
 
 
 
 
 
Cash and cash equivalents at end of period
$
55,696

 
$
106,392

 
 
 
 
 
 
 
 
 
Supplemental non-cash investing and/or financing activities:
 
 
 
 
 
Net carrying value of interests in properties distributed to non-controlling owners
$
178,969

 
$


Page 10




Brixmor Property Group
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
 
 
 
 
Reconciliation of Net Income (Loss) to EBITDA (Unaudited, dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pro Forma
 
Actual Results
 
 
 
 
 
Three Months
 
Three Months
 
Three Months
 
Three Months
 
 
 
 
 
Ended 3/31/14
 
Ended 3/31/13
 
Ended 3/31/14
 
Ended 3/31/13
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
$
20,720

 
$
(1,946
)
 
$
41,740

 
$
(25,446
)
 
 
Interest expense - continuing operations
67,966

 
72,960

 
67,966

 
91,871

 
 
Interest expense - discontinued operations

 

 
259

 
2,250

 
 
Interest expense - unconsolidated joint ventures
43

 
44

 
42

 
225

 
 
Federal and state taxes
890

 
954

 
890

 
954

 
 
Depreciation and amortization - continuing operations
113,268

 
123,371

 
113,268

 
111,777

 
 
Depreciation and amortization - discontinued operations

 

 
431

 
3,849

 
 
Depreciation and amortization - unconsolidated joint ventures
73

 
80

 
102

 
80

 
 
Adjustments attributable to non-controlling interests not convertible into common stock
(322
)
 
(329
)
 
(22,060
)
 
(329
)
 
EBITDA
 
202,638

 
195,134

 
202,638

 
185,231

 
 
Straight-line rent
(4,912
)
 
(3,302
)
 
(4,857
)
 
(3,236
)
 
 
Above- and below-market rent amortization
(11,569
)
 
(13,341
)
 
(11,580
)
 
(12,277
)
 
 
Adjustments attributable non-controlling interests not convertible into common stock

 

 
(44
)
 
(1,130
)
 
 
Total adjustments
(16,481
)
 
(16,643
)
 
(16,481
)
 
(16,643
)
 
Cash EBITDA
$
186,157

 
$
178,491

 
$
186,157

 
$
168,588

 
 
 
 
 
 
 
 
 
 
 
 
 
EBITDA
 
$
202,638

 
$
195,134

 
$
202,638

 
$
185,231

 
 
Gain on disposition of operating properties
(378
)
 

 
(14,804
)
 

 
 
Gain on disposition of unconsolidated joint ventures

 

 
(1,820
)
 

 
 
Loss (gain) on extinguishment of debt, net
2,276

 

 
(3,798
)
 
(2,150
)
 
 
Impairment on real estate held for sale

 

 

 
3,033

 
 
Adjustments attributable to non-controlling interests not convertible into common stock

 

 
22,320

 

 
 
Total adjustments
1,898

 

 
1,898

 
883

 
Adjusted EBITDA
204,536

 
195,134

 
204,536

 
186,114

 
 
Straight-line rent
(4,912
)
 
(3,302
)
 
(4,857
)
 
(3,236
)
 
 
Above- and below-market rent amortization
(11,569
)
 
(13,341
)
 
(11,580
)
 
(12,277
)
 
 
Adjustments attributable non-controlling interests not convertible into common stock

 

 
(44
)
 
(1,130
)
 
 
Total adjustments
(16,481
)
 
(16,643
)
 
(16,481
)
 
(16,643
)
 
Cash adjusted EBITDA
$
188,055

 
$
178,491

 
$
188,055

 
$
169,471




Page 11





Brixmor Property Group
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
 
 
 
 
Reconciliation of Net Income (Loss) to Funds From Operations (Unaudited, dollars in thousands, except per share amounts)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pro Forma
 
Actual Results
 
 
 
 
 
Three Months
 
Three Months
 
Three Months
 
Three Months
 
 
 
 
 
Ended 3/31/14
 
Ended 3/31/13
 
Ended 3/31/14
 
Ended 3/31/13
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
$
20,720

 
$
(1,946
)
 
$
41,740

 
$
(25,446
)
 
 
Gain on disposition of operating properties
(378
)
 

 
(14,804
)
 

 
 
Gain on disposition of unconsolidated joint ventures

 

 
(1,820
)
 

 
 
Depreciation and amortization- real estate related- continuing operations
112,585

 
122,862

 
112,585

 
111,268

 
 
Depreciation and amortization- real estate related- discontinued operations

 

 
431

 
3,849

 
 
Depreciation and amortization- real estate related- unconsolidated joint ventures
73

 
80

 
102

 
80

 
 
Impairment of operating properties

 

 

 
3,033

 
 
Adjustments attributable to non-controlling interests not convertible into common stock
(322
)
 
(329
)
 
(5,556
)
 
(329
)
 
FFO
 
 
$
132,678

 
$
120,667

 
$
132,678

 
$
92,455

 
 
 
 
 
 
 
 
 
 
 
 
 
FFO per share/OP Unit - diluted
$
0.44

 
$
0.40

 
$
0.44

 
$
0.38

 
Weighted average shares/OP Units outstanding - basic and diluted (1)
304,231

 
304,231

 
304,231

 
240,905

 
 
 
 
 
 
 
 
 
 
 
 
 
Items that impact FFO comparability
 
 
 
 
 
 
 
 
 
Gain (loss) on extinguishment of debt, net
$
(2,276
)
 
$

 
$
3,798

 
$
2,150

 
 
Gain (loss) on extinguishment of debt per share
$
(0.01
)
 
$

 
$
0.01

 
$
0.01

 
 
 
 
 
 
 
 
 
 
 
 
 
Dividends declared per share/OP Unit
$
0.20

 
 
 
$
0.20

 
 
 
Shares/OP Unit dividends declared
$
60,846

 
 
 
$
60,846

 
 
 
Share/OP Unit dividend payout ratio (as % of FFO)
45.9
%
 
 
 
45.9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Basic and diluted shares/OP Units outstanding reflects an assumed conversion of certain BPG Sub shares and OP Units to common stock of the Company and the vesting of certain restricted stock awards.


Page 12





Brixmor Property Group
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
 
 
Supplemental Balance Sheet Detail (Unaudited, dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Actual Results
 
Pro Forma
 
 
 
 
 
3/31/14
 
12/31/13
 
12/31/13
 
 
 
 
 
 
 
 
 
 
 
Real estate, net
 
 
 
 
 
 
 
Land
 
$
1,998,902

 
$
2,055,802

 
$
1,989,160

 
 
Buildings and improvements
 
 
 
 
 
 
 
 
Building
7,327,482

 
7,436,072

 
7,321,799

 
 
 
Building and tenant improvements
377,140

 
346,521

 
357,814

 
 
 
Construction in process (anchor space repositioning and redevelopment only)
30,673

 
27,386

 
27,386

 
 
 
Lease intangibles
939,575

 
971,947

 
947,900

 
 
 
 
 
10,673,772

 
10,837,728

 
10,644,059

 
 
Accumulated depreciation and amortization
(1,260,355
)
 
(1,190,170
)
 
(1,160,478
)
 
 
 
Total real estate, net
$
9,413,417

 
$
9,647,558

 
$
9,483,581

 
 
 
 
 
 
 
 
 
 
 
Receivables, net
 
 
 
 
 
 
 
Straight-line rent receivable
$
51,971

 
$
47,669

 
$
46,855

 
 
Tenant receivables
131,023

 
145,247

 
141,779

 
 
Allowance for doubtful accounts
(29,284
)
 
(30,190
)
 
(28,741
)
 
 
Other
 
14,070

 
15,779

 
15,691

 
 
Total receivables, net
$
167,780

 
$
178,505

 
$
175,584

 
 
 
 
 
 
 
 
 
 
 
Deferred charges and prepaid expenses, net
 
 
 
 
 
 
 
Deferred charges, net
$
75,338

 
$
73,791

 
$
72,538

 
 
Prepaid expenses, net
29,055

 
31,731

 
30,699

 
 
Total deferred charges and prepaid expenses, net
$
104,393

 
$
105,522

 
$
103,237

 
 
 
 
 
 
 
 
 
 
 
Other assets
 
 
 
 
 
 
 
Furniture, fixtures and leasehold improvements, net
$
10,746

 
$
10,591

 
$
10,591

 
 
Real estate assets held for sale

 
5,531

 

 
 
Other
 
2,859

 
3,528

 
3,452

 
 
Total other assets
$
13,605

 
$
19,650

 
$
14,043

 
 
 
 
 
 
 
 
 
 
 
Accounts payable, accrued expenses and other liabilities
 
 
 
 
 
 
 
Accounts payable and accrued expenses
$
183,280

 
$
230,967

 
$
226,848

 
 
Dividends payable
60,926

 
38,637

 
38,637

 
 
Below market leases, net
369,826

 
388,176

 
385,097

 
 
Other
 
46,794

 
51,749

 
50,913

 
 
Total accounts payable, accrued expenses and other liabilities
$
660,826

 
$
709,529

 
$
701,495



Page 13




Brixmor Property Group
 
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
 
 
 
 
 
Net Operating Income Detail, Supplemental Statements of Operations Detail, Operating Ratios & Additional Disclosures (Unaudited, dollars in thousands)
 
 
 
 
 
Pro Forma
 
Actual Results
 
 
 
 
 
 
Three Months
 
Three Months
 
Three Months
 
Three Months
 
 
 
 
 
 
Ended 3/31/14
 
Ended 3/31/13
 
Ended 3/31/14
 
Ended 3/31/13
 
 
Net Operating Income Detail
 
 
 
 
 
 
 
 
 
 
Rental income
$
237,260

 
$
231,329

 
$
237,260

 
$
214,558

 
 
 
Expense reimbursements
68,623

 
63,674

 
68,623

 
59,603

 
 
 
Percentage rents
1,416

 
1,883

 
1,416

 
1,939

 
 
 
Operating costs
(34,888
)
 
(32,204
)
 
(34,888
)
 
(29,846
)
 
 
 
Real estate taxes
(44,446
)
 
(44,064
)
 
(44,446
)
 
(41,700
)
 
 
 
Provision for doubtful accounts
(2,877
)
 
(2,478
)
 
(2,877
)
 
(2,324
)
 
 
Net operating income
225,088

 
218,140

 
225,088

 
202,230

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Reconciliation of net operating income to net income (loss) attributable to common stockholders
 
 
 
 
 
 
 
 
 
 
Fee income
397

 
521

 
397

 
1,218

 
 
 
Depreciation and amortization
(113,268
)
 
(123,371
)
 
(113,268
)
 
(111,777
)
 
 
 
General and administrative
(19,658
)
 
(23,395
)
 
(19,658
)
 
(23,068
)
 
 
 
Total other expenses
(71,917
)
 
(73,898
)
 
(71,917
)
 
(90,500
)
 
 
 
Equity in income of unconsolidated joint ventures
78

 
57

 
65

 
247

 
 
 
Gain on disposal of investments in unconsolidated joint ventures

 

 
1,820

 

 
 
 
Income (loss) from discontinued operations

 

 
19,213

 
(3,796
)
 
 
 
Net (income) loss attributable to non-controlling interests
(5,320
)
 
228

 
(26,339
)
 
5,947

 
 
Net income (loss) attributable to common stockholders
$
15,400

 
$
(1,718
)
 
$
15,401

 
$
(19,499
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Statement of Operations Detail
 
 
 
 
 
 
 
 
 
Other revenues
 
 
 
 
 
 
 
 
 
 
Percentage rents
$
1,416

 
$
1,883

 
$
1,416

 
$
1,939

 
 
 
Fee income
397

 
521

 
397

 
1,218

 
 
 
Total other revenues
$
1,813

 
$
2,404

 
$
1,813

 
$
3,157

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
 
 
 
 
 
 
 
 
 
 
Mortgage and note interest
$
58,933

 
$
65,981

 
$
58,933

 
$
95,018

 
 
 
Unsecured credit facility and term loan interest
12,072

 
11,052

 
12,072

 

 
 
 
Deferred financing cost amortization
2,522

 
2,921

 
2,522

 
2,842

 
 
 
Debt premium and discount amortization, net
(5,561
)
 
(6,994
)
 
(5,561
)
 
(5,989
)
 
 
 
Total interest expense
$
67,966

 
$
72,960

 
$
67,966

 
$
91,871

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other expense
 
 
 
 
 
 
 
 
 
 
Federal and state taxes
890

 
954

 
890

 
954

 
 
 
Other
 
1,271

 
6

 
1,271

 
6

 
 
 
Total other expense
$
2,161

 
$
960

 
$
2,161

 
$
960

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating Ratios
 
 
 
 
 
 
 
 
 
 
NOI margin (NOI / total rental revenues) (1)(2)
73.2
%
 
73.5
%
 
73.2
%
 
73.2
%
 
 
 
Expense recovery ratio (expense reimbursements / (operating costs + real estate taxes))
86.5
%
 
83.5
%
 
86.5
%
 
83.3
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Additional Disclosures
 
 
 
 
 
 
 
 
 
 
Base rent
$
218,256

 
$
212,267

 
$
218,256

 
$
197,240

 
 
 
Lease termination fees
307

 
540

 
307

 
515

 
 
 
Straight-line rents
4,912

 
3,302

 
4,912

 
3,149

 
 
 
Above- and below-market rent amortization, net
11,569

 
13,341

 
11,570

 
12,218

 
 
 
Capitalized interest
672

 
852

 
672

 
805

 
 
 
Equity based compensation
2,117

 
1,605

 
2,117

 
1,605

 
 
 
Capitalized direct leasing compensation costs
3,737

 
3,229

 
3,737

 
3,229

 
 
 
Capitalized direct construction compensation costs
1,394

 
1,359

 
1,394

 
1,359

 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) NOI excludes all unconsolidated joint venture NOI, including Montecito Marketplace NOI of $189 at pro rata share for the three months ended March 31, 2014.
(2) NOI includes straight-line rents and above- and below-market rent amortization, net.


Page 14




Brixmor Property Group
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
Same Property NOI Analysis & Reconciliation to Net Loss Attributable to Common Stockholders (Unaudited, dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Actual Results (1)
 
 
 
 
 
 
Three Months Ended
 
 
 
 
 
 
 
 
3/31/14
 
3/31/13
 
Change
 
 
Same Property NOI Analysis
 
 
 
 
 
 
 
Number of properties
479

 
479

 
 
 
Percent billed
90.6
%
 
89.6
%
 
1.0%
 
 
Percent leased
92.4
%
 
91.3
%
 
1.1%
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue breakdown
 
 
 
 
 
 
 
 
Rental income
$
207,263

 
$
200,763

 
 
 
 
 
Expense reimbursements
64,917

 
60,173

 
 
 
 
 
Percentage rents
1,376

 
1,939

 
 
 
 
 
 
 
 
273,556

 
262,875

 
4.1%
 
 
Rental property expenses
 
 
 
 
 
 
 
 
Property operating expenses
(32,955
)
 
(30,109
)
 
 
 
 
 
Real estate taxes
(42,237
)
 
(42,015
)
 
 
 
 
 
Bad debt expense
(2,726
)
 
(2,325
)
 
 
 
 
 
 
 
 
(77,918
)
 
(74,449
)
 
4.7%
 
 
Same property NOI
$
195,638

 
$
188,426

 
3.8%
 
 
 
 
 
 
 
 
 
 
 
 
 
Same property NOI excluding redevelopments (2)
$
190,565

 
$
183,763

 
3.7%
 
 
 
 
 
 
 
 
 
 
 
 
 
NOI margin (3)
71.5
%
 
71.7
%
 
(0.2%)
 
 
Expense recovery ratio
86.3
%
 
83.4
%
 
3.5%
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent contribution to same property NOI growth:
 
 
 
 
 
 
 
 
 
 
 
Change
 
Percent Change
 
 
 
 
 
Rent growth
6,500

 
3.4%
 
 
 
 
 
Net recoveries
1,676

 
0.9%
 
 
 
 
 
Other revenues
(563
)
 
(0.3%)
 
 
 
 
 
Bad debt expense
(401
)
 
(0.2%)
 
 
 
 
 
 
 
 
 
 
3.8%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Reconciliation of Net Income (Loss) Attributable to Common Stockholders to Same Property NOI
 
 
Net income (loss) attributable to common stockholders
$
15,401

 
$
(19,499
)
 
 
 
 
Adjustments:
 
 
 
 
 
 
 
 
Revenue adjustments (4)
(16,464
)
 
(15,335
)
 
 
 
 
 
Depreciation and amortization
113,268

 
111,777

 
 
 
 
 
General and administrative
19,658

 
23,068

 
 
 
 
 
Total other expenses
71,917

 
90,500

 
 
 
 
 
Equity in income of unconsolidated joint ventures
(65
)
 
(247
)
 
 
 
 
 
Gain on disposal of investments in unconsolidated joint ventures
(1,820
)
 

 
 
 
 
 
Pro rata share of same property NOI of unconsolidated joint ventures
189

 
182

 
 
 
 
 
Income (loss) from discontinued operations
(19,213
)
 
3,796

 
 
 
 
 
Net income (loss) attributable to non-controlling interests
26,339

 
(5,947
)
 
 
 
 
 
Non-same store NOI
(13,572
)
 
131

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Same property NOI
$
195,638

 
$
188,426

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Impact of redevelopments
(5,073
)
 
(4,663
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Same property NOI excluding redevelopments
$
190,565

 
$
183,763

 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Represents all properties owned prior to the completion of the IPO. This portfolio excludes the Excluded Properties and the Acquired Properties. Includes unconsolidated joint venture, Montecito Marketplace, at pro rata share.
(2) Excludes six redevelopment properties.
(3) NOI excludes straight-line rents and above- and below-market rent amortization, net.
(4) Includes adjustments for lease settlement income, straight-line rents, above- and below-market rent amortization, net and fee income from managed properties and unconsolidated joint ventures.

Page 15





Brixmor Property Group
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
 
Capital Expenditures (Unaudited, dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pro Forma
 
Actual Results
 
 
 
 
 
 
Three Months
 
Three Months
 
 
 
 
 
 
Ended 3/31/14
 
Ended 3/31/14
 
 
 
 
 
 
 
 
 
 
 
Capital Expenditures (1):
 
 
 
 
 
 
Building additions and expansions (2)
$
20,772

 
$
20,772

 
 
 
Building improvements capitalized (3)
1,262

 
1,159

 
 
 
Tenant improvements
16,451

 
16,122

 
 
 
External leasing commissions
2,200

 
2,212

 
 
Total Capital Expenditures
$
40,685

 
$
40,265

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Includes unconsolidated joint ventures at pro rata share.
(2) Revenue-enhancing expenditures.
(3) Non revenue-enhancing expenditures such as lighting, painting, parking lots, roofing and signage.


Page 16




Brixmor Property Group
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
 
 
Capitalization, Liquidity & Debt Ratios (Unaudited, dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Actual Results as of
 
Pro Forma
 
 
 
 
 
3/31/14
 
12/31/13
 
12/31/2013
 
Debt:
 
 
 
 
 
 
 
 
 
Revolving credit facility
$
173,005

 
$
120,179

 
$
120,179

 
 
Term loans
2,100,000

 
1,500,000

 
1,500,000

 
 
Corporate bonds
293,667

 
353,617

 
353,617

 
 
Mortgage debt
3,333,426

 
3,928,184

 
3,911,383

 
 
Financial liabilities
121,470

 
172,689

 
172,689

 
Total principal debt
6,021,568

 
6,074,669

 
6,057,868

 
Add: Net unamortized premium
75,793

 
81,731

 
82,550

 
Total debt
 
6,097,361

 
6,156,400

 
6,140,418

 
Less: cash, cash equivalents and restricted cash
(121,113
)
 
(189,372
)
 
(170,179
)
 
Net debt
 
5,976,248

 
5,967,028

 
5,970,239

 
 
 
 
 
 
 
 
 
 
 
Equity:
 
 
 
 
 
 
 
 
 
Stockholders' equity
2,320,313

 
2,342,468

 
2,342,468

 
 
Non-controlling interests
750,842

 
942,052

 
768,051

 
Total equity
 
3,071,155

 
3,284,520

 
3,110,519

 
Total capitalization
$
9,047,403

 
$
9,251,548

 
$
9,080,758

 
 
 
 
 
 
 
 
 
 
 
Outstanding classes of stock and partnership units:
 
 
 
 
 
 
 
Common shares outstanding
229,680

 
229,680

 
229,680

 
 
Exchangeable BPG Sub shares held by non-controlling interests
58,663

 
58,663

 
58,663

 
 
Exchangeable OP Units held by non-controlling interests
15,878

 
15,878

 
15,878

 
 
 
 
 
304,221

 
304,221

 
304,221

 
 
 
 
 
 
 
 
 
 
 
Liquidity:
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
121,113

 
$
189,372

 
$
95,332

 
 
Available under unsecured credit facility
1,076,995

 
1,129,821

 
1,129,821

 
 
 
 
 
$
1,198,108

 
$
1,319,193

 
$
1,225,153

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Pro Forma
 
 
 
 
 
 
 
 Three Months
 
 Three Months
 
 
 
 
 
 
 
Ended 3/31/14
 
Ended 12/31/13
 
 
 
Ratios:
 
 
 
 
 
 
 
 
 
Total debt / total market capitalization (1)
48.4
%
 
50.0
%
 
 
 
 
Total debt / total assets, before depreciation (consolidated portfolio only) (2)
53.8
%
 
54.0
%
 
 
 
 
Secured debt to total assets (2)
34.7
%
 
35.5
%
 
 
 
 
Net principal debt to adjusted EBITDA (GAAP)
7.2x

 
7.1x

 
 
 
 
Net principal debt to adjusted EBITDA (cash)
7.8x

 
7.7x

 
 
 
 
Unencumbered assets to unsecured debt
2.2x

 
2.1x

 
 
 
 
Interest coverage (adjusted EBITDA / interest expense)
3.0x

 
2.9x

 
 
 
 
Debt service coverage (adjusted EBITDA / (interest expense + scheduled principal payments))
2.7x

 
2.6x

 
 
 
 
Fixed charge coverage (adjusted EBITDA / (interest expense + scheduled principal payments +
2.7x

 
2.6x

 
 
 
 
 
preferred dividends))
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Actual
 
 
 
 
 
 
 
 
 
3/31/2014
 
 
 
 
 
 
Percentage of total debt:
 
 
 
 
 
 
 
 
Fixed
86.2
%
 
 
 
 
 
 
 
Floating
13.8
%
 
 
 
 
 
 
Unencumbered summary:
 
 
 
 
 
 
 
 
Percent of properties
48.5
%
 
 
 
 
 
 
 
Percent of NOI
47.4
%
 
 
 
 
 
 
Weighted average maturity (years):
 
 
 
 
 
 
 
 
Fixed
3.89

 
 
 
 
 
 
 
Floating
4.42

 
 
 
 
 
 
 
Total
3.97

 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Market capitalization based on the March 31, 2014 closing stock price of $21.33.
(2) Excludes Inland Preferred.

Page 17




Brixmor Property Group
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt Overview (Unaudited, dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Maturity Schedule - Debt & Financial Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Scheduled Amortization

 
 
 
Scheduled Maturities

 
 
 
Total

 
 
Weighted Avg Interest Rate
 
 
 
 
 
 
 
 
 
2014
 
 
 
24,821

 
 
 
47,348

 
 
 
72,169

 
 
 
5.64
%
 
 
 
 
 
 
 
 
2015
 
 
 
33,195

 
 
 
817,184

 
 
 
850,379

 
 
 
6.18
%
 
 
 
 
 
 
 
 
2016
 
 
 
26,240

 
 
 
1,292,404

 
 
 
1,318,644

 
 
 
5.52
%
 
 
 
 
 
 
 
 
2017
 
 
 
23,773

 
 
 
500,822

 
 
 
524,595

 
 
 
4.89
%
 
 
 
 
 
 
 
 
2018
 
 
 
21,388

 
 
 
1,500,169

 
 
 
1,521,557

 
 
 
2.50
%
 
 
 
 
 
 
 
 
2019
 
 
 
22,368

 
 
 
600,000

 
 
 
622,368

 
 
 
1.81
%
 
 
 
 
 
 
 
 
2020
 
 
 
16,397

 
 
 
840,567

 
 
 
856,964

 
 
 
6.50
%
 
 
 
 
 
 
 
 
2021
 
 
 

 
 
 
186,225

 
 
 
186,225

 
 
 
6.24
%
 
 
 
 
 
 
 
 
2022+
 
 
 

 
 
 
68,667

 
 
 
68,667

 
 
 
7.30
%
 
 
 
 
 
 
 
 
Total Debt Maturities (1)
 
 $ 168,182

 
 
 $ 5,853,386
 
 
 
 $ 6,021,568
 
 
 
 
4.59%

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unamortized premiums on mortgages
 
 
 
               87,556

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unamortized discount on notes
 
 
 
 
              (11,763)

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt & financial liabilities, net
 
 
 
 $ 6,097,361
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Detailed Maturity Schedule - Debt & Financial Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Rate Secured Mortgages
 
Variable Rate Secured Mortgages (2)
 
Fixed Rate Unsecured Notes (2)
 
Financial Liabilities (2)
 
Variable Rate Unsecured Credit Facility / Fixed Rate Unsecured Credit Facility (2)
 
 
Year
 
Scheduled Amortization

 
Scheduled Maturities

 
Weighted Avg Interest Rate

 
Scheduled Maturities

 
Weighted Avg Interest Rate

 
Scheduled Maturities

 
Weighted Avg Interest Rate

 
Scheduled Maturities

 
Weighted Avg Interest Rate

 
Scheduled Maturities

 
Weighted Avg Interest Rate

 
 
2014
 
24,821

 
47,348

 
5.64
%
 

 

 

 

 

 

 

 

 
 
2015
 
33,195

 
470,714

 
5.43
%
 

 

 
225,000

 
5.27
%
 
121,470

 
11.00
%
 

 

 
 
2016
 
26,240

 
1,235,404

 
5.60
%
 
57,000

 
3.75
%
 

 

 

 

 

 

 
 
2017
 
23,773

 
327,817

 
6.42
%
 

 

 

 

 

 

 
173,005

 
1.69
%
 
 
2018
 
21,388

 
169

 
6.35
%
 

 

 

 

 

 

 
1,500,000

 
2.34
%
 
 
2019
 
22,368

 

 
6.31
%
 

 

 

 

 

 

 
600,000

 
1.64
%
 
 
2020
 
16,397

 
840,567

 
6.50
%
 

 

 

 

 

 

 

 

 
 
2021
 

 
186,225

 
6.24
%
 

 

 

 

 

 

 

 

 
 
2022+
 

 

 

 

 

 
68,667

 
7.30
%
 

 

 

 

 
 
Total Debt Maturities
 
$
168,182

 
$
3,108,244

 
5.95%

 
$
57,000

 
3.75%

 
$
293,667

 
5.75%

 
$
121,470

 
11.00%

 
$
2,273,005

 
2.10%

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Excludes unconsolidated joint venture, Montecito Marketplace, debt of $14,890 at pro rata share.
(2) No scheduled amortization until maturity dates.


Page 18




Brixmor Property Group
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
Summary of Outstanding Debt (Unaudited, dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Number of
 
Outstanding
 
Actual
 
Maturity
 
Percent of
 
 
 
Loan / Property Name
 
MSA
 
 Properties
 
Balance
 
Interest Rate
 
Date
 
Total Indebtedness
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FIXED RATE DEBT:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Secured Mortgages
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Village at Newtown
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1

 
$
24,173

 
5.25
%
 
6/1/14
 
0.41
%
 
 
 
 
The Vineyards at Chateau Elan (1)
 
 
1

 
9,029

 
5.88
%
 
7/11/14
 
0.15
%
 
 
 
 
Villa Monaco
 
Denver
 
1

 
8,276

 
5.56
%
 
9/1/14
 
0.14
%
 
 
 
 
Shoppes of Victoria Square
 
Port St. Lucie, FL
 
1

 
6,109

 
5.60
%
 
9/1/14
 
0.10
%
 
 
 
 
Shops of Tuscaloosa
 
Tuscaloosa, AL
 
1

 
6,538

 
5.45
%
 
1/11/15
 
0.11
%
 
 
 
 
REIT 2 LP 66
 
 
3

 
66,000

 
5.29
%
 
4/1/15
 
1.12
%
 
 
 
 
Eustis Village
 
Orlando-Kissimmee-Sanford, FL
 
1

 
12,295

 
5.45
%
 
5/11/15
 
0.21
%
 
 
 
 
Governors Town Square
 
Atlanta-Sandy Springs-Roswell, GA
 
1

 
9,520

 
5.20
%
 
6/1/15
 
0.16
%
 
 
 
 
Turnpike Plaza
 
Hartford-West Hartford-East Hartford, CT
 
1

 
20,500

 
4.90
%
 
6/1/15
 
0.35
%
 
 
 
 
Sarasota Village
 
North Port-Sarasota-Bradenton, FL
 
1

 
9,862

 
5.02
%
 
6/1/15
 
0.17
%
 
 
 
 
Sunshine Square
 
New York-Newark-Jersey City, NY-NJ-PA
 
1

 
16,849

 
6.85
%
 
8/5/15
 
0.29
%
 
 
 
 
Village West
 
Allentown-Bethlehem-Easton, PA-NJ
 
1

 
12,807

 
5.25
%
 
8/5/15
 
0.22
%
 
 
 
 
REIT 20 LP 208
 
 
18

 
208,000

 
5.17
%
 
9/1/15
 
3.53
%
 
 
 
 
Westminster City Center
 
Denver-Aurora-Lakewood, CO
 
1

 
47,000

 
5.17
%
 
9/1/15
 
0.80
%
 
 
 
 
Hillcrest
 
Spartanburg, SC
 
1

 
18,500

 
7.50
%
 
9/1/15
 
0.31
%
 
 
 
 
Hampton Village Centre
 
Detroit-Warren-Dearborn, MI
 
1

 
27,655

 
5.65
%
 
9/5/15
 
0.47
%
 
 
 
 
Wilmington Island
 
Savannah, GA
 
1

 
8,748

 
5.05
%
 
11/11/15
 
0.15
%
 
 
 
 
Streetsboro Crossing
 
Akron, OH
 
1

 
8,925

 
5.37
%
 
12/1/15
 
0.15
%
 
 
 
 
REIT 4 LP 169
 
 
22

 
154,740

 
5.62
%
 
1/1/16
 
2.62
%
 
 
 
 
South Plaza Shopping Center
 
California-Lexington Park, MD
 
1

 
15,472

 
5.42
%
 
1/11/16
 
0.26
%
 
 
 
 
REIT 5 LP 240
 
 
12

 
222,941

 
5.63
%
 
2/1/16
 
3.78
%
 
 
 
 
Chicopee Marketplace
 
Springfield, MA
 
1

 
17,415

 
5.97
%
 
6/1/16
 
0.30
%
 
 
 
 
Cobblestone Village I and II
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
1

 
9,994

 
5.97
%
 
6/1/16
 
0.17
%
 
 
 
 
Springdale
 
Mobile, AL
 
1

 
36,907

 
5.97
%
 
6/1/16
 
0.63
%
 
 
 
 
Wilkes-Barre Township Marketplace
 
Scranton--Wilkes-Barre--Hazleton, PA
 
1

 
10,613

 
5.97
%
 
6/1/16
 
0.18
%
 
 
 
 
Fashion Square
 
Jacksonville, FL
 
1

 
7,517

 
5.97
%
 
6/1/16
 
0.13
%
 
 
 
 
REIT 7 LP 86
 
 
7

 
86,000

 
6.32
%
 
8/1/16
 
1.46
%
 
 
 
 
REIT 16 LP 220
 
 
14

 
220,936

 
5.39
%
 
11/1/16
 
3.74
%
 
 
 
 
REIT 14 LP 226
 
 
15

 
226,109

 
5.44
%
 
12/1/16
 
3.83
%
 
 
 
 
REIT 15 LP 233
 
 
15

 
233,977

 
5.44
%
 
12/9/16
 
3.97
%
 
 
 
 
Dublin Village
 
Dublin, GA
 
1

 
6,402

 
5.78
%
 
12/11/16
 
0.11
%
 
 
 
 
Conyers Plaza I *
 
Atlanta-Sandy Springs-Roswell, GA
 
1

 
10,800

 
5.77
%
 
1/1/17
 
0.18
%
 
 
 
 
Freshwater - Stateline Plaza
 
Hartford-West Hartford-East Hartford, CT
 
1

 
18,098

 
8.00
%
 
2/1/17
 
0.31
%
 
 
 
 
Greensboro Village
 
Nashville-Davidson--Murfreesboro--Franklin, TN
 
1

 
9,096

 
5.52
%
 
2/11/17
 
0.15
%
 
 
 
 
LP - JPM 300
 
 
18

 
295,109

 
6.38
%
 
9/1/17
 
5.00
%
 
 
 
 
Whitaker Square
 
Winston-Salem, NC
 
1

 
9,258

 
6.32
%
 
12/1/17
 
0.16
%
 
 
 
 
Christmas Tree Plaza
 
New Haven-Milford, CT
 
1

 
4,409

 
7.89
%
 
5/11/18
 
0.07
%
 
 

Page 19




Brixmor Property Group
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
Summary of Outstanding Debt (Unaudited, dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Number of
 
Outstanding
 
Actual
 
Maturity
 
Percent of
 
 
 
Loan / Property Name
 
MSA
 
 Properties
 
Balance
 
Interest Rate
 
Date
 
Total Indebtedness
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Sun Plaza (2)
 
Crestview-Fort Walton Beach-Destin, FL
 
1

 
5,285

 
7.50
%
 
7/1/20
 
0.09
%
 
 
 
 
Elkhart Market Centre (3)
 
Elkhart-Goshen, IN
 
1

 
6,978

 
7.50
%
 
7/1/20
 
0.12
%
 
 
 
 
LP - JPM CMBS
 
 
72

 
553,640

 
6.77
%
 
8/1/20
 
9.38
%
 
 
 
 
Monroe ShopRite Plaza
 
New York-Newark-Jersey City, NY-NJ-PA
 
1

 
8,535

 
6.50
%
 
8/1/20
 
0.14
%
 
 
 
 
Bethel Park
 
Pittsburgh, PA
 
1

 
9,917

 
6.50
%
 
8/1/20
 
0.17
%
 
 
 
 
Ivyridge
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1

 
13,834

 
6.50
%
 
8/1/20
 
0.23
%
 
 
 
 
Roosevelt Mall
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1

 
49,317

 
6.50
%
 
8/1/20
 
0.84
%
 
 
 
 
Midway Market Square (1)
 
Cleveland-Elyria, OH
 
1

 
5,198

 
8.18
%
 
12/1/20
 
0.09
%
 
 
 
 
Inland (Brixmor/IA, LLC) - Pool A
 
 
9

 
102,658

 
5.91
%
 
12/6/20
 
1.74
%
 
 
 
 
Inland (Brixmor/IA, LLC) - Pool B
 
 
8

 
94,024

 
5.91
%
 
12/6/20
 
1.59
%
 
 
 
 
Inland (Brixmor/IA, LLC) - Pool C
 
 
7

 
100,847

 
5.91
%
 
12/31/20
 
1.71
%
 
 
 
 
REIT 20 LP 51 A
 
 
4

 
48,640

 
6.24
%
 
1/6/21
 
0.82
%
 
 
 
 
REIT 20 LP 45 B
 
 
4

 
43,732

 
6.24
%
 
1/6/21
 
0.74
%
 
 
 
 
REIT 20 LP 42 C
 
 
5

 
40,883

 
6.24
%
 
1/6/21
 
0.69
%
 
 
 
 
REIT 20 LP 37 D
 
 
3

 
35,305

 
6.24
%
 
1/6/21
 
0.60
%
 
 
 
 
REIT 20 LP 43 E
 
 
4

 
41,054

 
6.24
%
 
1/6/21
 
0.70
%
 
 
 
 
TOTAL FIXED RATE SECURED MORTGAGES
 
 
 
 
 
3,276,426

 
5.95
%
 
 
 
55.53
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured Credit Facility
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Term Loan Facility (4)
 
 

 
$
1,500,000

 
2.34
%
 
7/31/18
 
25.42
%
 
 
 
 
TOTAL FIXED RATE UNSECURED CREDIT FACILITY
 
 
 
1,500,000

 
2.34
%
 
 
 
25.42
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured Notes
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5.30%, 2015 Brixmor LLC Notes
 
 

 
$
100,000

 
5.30
%
 
1/15/15
 
1.69
%
 
 
 
 
5.25%, 2015 Brixmor LLC Notes
 
 

 
125,000

 
5.25
%
 
9/15/15
 
2.12
%
 
 
 
 
3.75%, 2023 Brixmor LLC Notes (5)
 
 

 
10

 
3.75
%
 
6/1/23
 
%
 
 
 
 
7.97%, 2026 Brixmor LLC Notes
 
 

 
2,862

 
7.97
%
 
8/14/26
 
0.05
%
 
 
 
 
7.65%, 2026 Brixmor LLC Notes
 
 

 
9,638

 
7.65
%
 
11/2/26
 
0.16
%
 
 
 
 
7.68%, 2026 Brixmor LLC Notes I
 
 

 
5,135

 
7.68
%
 
11/2/26
 
0.09
%
 
 
 
 
6.90%, 2028 Brixmor LLC Notes I
 
 

 
10,644

 
6.90
%
 
2/15/28
 
0.18
%
 
 
 
 
6.90%, 2028 Brixmor LLC Notes II
 
 

 
18,673

 
6.90
%
 
2/15/28
 
0.32
%
 
 
 
 
7.50%, 2029 Brixmor LLC Notes
 
 

 
21,705

 
7.50
%
 
7/30/29
 
0.37
%
 
 
 
 
TOTAL FIXED RATE UNSECURED NOTES
 
 
 
 
 
293,667

 
5.75
%
 
 
 
4.98
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL FIXED RATE DEBT
 
 
 
 
 
5,070,093

 
4.87
%
 
 
 
85.93
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
VARIABLE RATE DEBT:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Secured Mortgages
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Page 20




Brixmor Property Group
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
Summary of Outstanding Debt (Unaudited, dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Number of
 
Outstanding
 
Actual
 
Maturity
 
Percent of
 
 
 
Loan / Property Name
 
MSA
 
 Properties
 
Balance
 
Interest Rate
 
Date
 
Total Indebtedness
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
LP - Lights 3 - L+350bps w/25bps floor (1)
 
 
3

 
$
57,000

 
3.75
%
 
3/1/2016
 
0.97
%
 
 
 
 
TOTAL VARIABLE RATE SECURED MORTGAGES
 
 
 
 
57,000

 
3.75
%
 
 
 
0.97
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured Credit Facility
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revolving Credit Facility - L+150bps
 
 

 
173,005

 
1.69
%
 
7/31/17
 
2.93
%
 
 
 
 
Term Loan Facility - L+145bps
 
 

 
600,000

 
1.64
%
 
3/18/19
 
10.17
%
 
 
 
 
TOTAL VARIABLE RATE UNSECURED CREDIT FACILITY
 
 
 
773,005

 
1.65
%
 
 
 
13.10
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL VARIABLE RATE DEBT
 
 
 
 
 
$
830,005

 
1.79
%
 
 
 
14.07
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL DEBT
 
 
 
 
 
$
5,900,098

 
4.44
%
 
 
 
100.00
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
87,556

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
(11,763
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
5,975,891

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Financial Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Inland Preferred (6)
 
 

 
121,470

 
11.00
%
 
12/6/2015
 
100.00
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL FINANCIAL LIABILITIES
 
 
 
 
 
$
121,470

 
11.00
%
 
 
 
100.00
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL DEBT & FINANCIAL LIABILITIES, NET
 
 
 
$
6,097,361

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
* Indicates property is part of a larger shopping center.
(1) Debt repaid in April 2014.
(2) Lender has a call option at any time with a minimum of 120 days notice.
(3) Lender has a call option at any time after November 2014 with a minimum of 120 days notice.
(4) Term loan facility has been swapped from 1 month Libor to fixed at a combined rate of 0.844% (spread of 150bps).
(5) As of March 31, 2014, $114.99 million of the $115.0 million aggregate principal amount of the notes had been converted into cash by holders thereof.
(6) Represents preferred equity of a venture with Inland American Real Estate Trust Inc., which is treated as mortgage debt for GAAP purposes. Brixmor’s ownership in the venture is approximately 30%.


Page 21




Brixmor Property Group
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
 
 
 
Unsecured Credit Facility Covenant Disclosure (Unaudited, dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Covenants
 
As of 3/31/14
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 I. Leverage ratio
 
 < 60%
 
45.1
%
 
 
 
 
 
 
Total Outstanding Indebtedness
 
 
 
6,024,542

 
 
 
 
 
 
Balance Sheet Cash
 
 
 
125,796

 
 
 
 
 
 
Total Asset Value
 
 
 
13,067,656

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
II. Secured leverage ratio
 
< 40%
 
25.5
%
 
 
 
 
 
 
Total Secured Indebtedness
 
 
 
3,457,870

 
 
 
 
 
 
Balance Sheet Cash
 
 
125,796

 
 
 
 
 
 
Total Asset Value
 
 
 
13,067,656

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
III. Unsecured leverage ratio
 
 < 60%
 
40.2
%
 
 
 
 
 
 
Total Unsecured Indebtedness
 
 
 
2,566,672

 
 
 
 
 
 
Unrestricted Cash
 
 
 
60,379

 
 
 
 
 
 
Unencumbered Asset Value
 
 
6,238,142

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
IV. Fixed charge coverage ratio
 
 > 1.5x
 
 2.8x

 
 
 
 
 
 
Total Net Operating Income
 
 
 
909,859

 
 
 
 
 
 
Capital Expenditure Reserve
 
 
 
13,022

 
 
 
 
 
 
Fixed Charges
 
 
 
319,667

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Definitions for line of credit covenants:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Outstanding Indebtedness:
 
Total Indebtedness including capital leases, financing liabilities, redeemable non-controlling interests, letters of credit, guarantee obligations, and the Company's applicable share of joint venture Indebtedness.
 
Balance Sheet Cash:
 
Cash and cash equivalents, Restricted cash, and certain Marketable securities.
 
Total Asset Value:
 
An amount equal to the sum of the following for the Company and the Company's applicable share of its joint ventures: (i) Net Operating Income from Stabilized Projects for the most recent six months annualized divided by 7.00%, (ii) the amount of Management Fees received by the Company for the most recent six months annualized divided by 7.00%, (iii) Acquisition Assets valued at the higher of their capitalization value (Net Operating Income for the most recent six months annualized divided by 7.00%) or acquisition cost, (iv) undepreciated Book Value of Land, (v) undepreciated Book Value of Assets Under Development, (vi) undepreciated Book Value of Non-Stabilized Projects, (vii) value of Mezzanine Debt Investments, (viii) value of all First Mortgage Receivables. The aggregate contributions to Total Asset Value from items (v), (vi), and (vii) above shall not exceed 35% of Total Asset Value.
 
Total Secured Indebtedness:
 
All indebtedness that is secured by a lien on any asset.
 
Total Unsecured Indebtedness:
 
All Indebtedness that is not Secured Indebtedness.
 
Unrestricted Cash:
 
Cash and cash equivalents, and certain marketable securities but excluding restricted cash.
 
Unencumbered Asset Value:
 
Total Asset Value from Unencumbered Assets.
 
Unencumbered Assets:
 
Any acquisition asset, land, operating property and any asset under development located in the Unites States which, as of any date of determination is not subject to any liens, claims, or restrictions on transferability or assignability of any kind other than (i) permitted encumbrances or liens in favor of the administrative agent and (ii) customary restrictions on transferability that result in a change of control or that trigger a right of first offer or right of first refusal.
 
Total Net Operating Income:
 
For the Company and the Company's applicable share of its joint ventures, as determined in accordance with GAAP, an amount equal to (i) the aggregate rental income and other revenues from the operation of all real estate assets, including from straight-lined rent and amortization of above- and below-market leases minus (ii) all expenses and other charges incurred in connection with the operation of such real estate assets but excluding the payment of or provision for debt service charges, income taxes, capital expenses, depreciation, amortization and other non-cash expenses.
 
Fixed Charges:
 
For any period, the sum of (i) total interest expense, (ii) all scheduled principal payments due on account of total outstanding indebtedness (excluding balloon payments) and (iii) all dividends payable on account of preferred stock or preferred operating partnership units of the borrower or any other person in the consolidated group.
 
Capital Expenditure Reserve:
 
For any Operating Property, an amount equal to (i) $0.15 multiplied by (ii) the number of square feet of such Operating Property.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Note: For full detailed descriptions of the Credit Facility Covenant calculations and definitions of capitalized terms please refer to the Revolving Credit and Term Loan Agreement, dated as of July 16, 2013 filed as Exhibit 10.6 to Amendment No. 1 to Form S-11, filed with the Securities and Exchange Commission on August 23, 2013.



Page 22





Brixmor Property Group
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
 
 
Reconciliation of GAAP Balance Sheet to Pro Forma Balance Sheet (Unaudited, dollars in thousands, except share information)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Actual Results
 
 
 
Pro Forma
 
 
 
 
 
12/31/13
 
Adjustments (1)
 
12/31/13
 
Assets
 
 
 
 
 
 
 
 
 
Real estate
 
 
 
 
 
 
 
 
Land
$
2,055,802

 
$
(66,642
)
 
$
1,989,160

 
 
 
Buildings and improvements
8,781,926

 
(127,027
)
 
8,654,899

 
 
 
 
 
10,837,728

 
(193,669
)
 
10,644,059

 
 
 
Accumulated depreciation and amortization
(1,190,170
)
 
29,692

 
(1,160,478
)
 
 
Real estate, net
9,647,558

 
(163,977
)
 
9,483,581

 
 
Investments in and advances to unconsolidated joint ventures
9,205

 
(4,034
)
 
5,171

 
 
Cash and cash equivalents
113,915

 
(18,583
)
 
95,332

 
 
Restricted cash
75,457

 
(610
)
 
74,847

 
 
Marketable securities
22,104

 

 
22,104

 
 
Receivables, net
178,505

 
(2,921
)
 
175,584

 
 
Deferred charges and prepaid expenses, net
105,522

 
(2,285
)
 
103,237

 
 
Other assets
19,650

 
(5,607
)
 
14,043

 
Total assets
$
10,171,916

 
$
(198,017
)
 
$
9,973,899

 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
Debt obligations, net
$
5,981,289

 
$
(15,982
)
 
$
5,965,307

 
 
Financing liabilities, net
175,111

 

 
175,111

 
 
Accounts payable, accrued expenses and other liabilities
709,529

 
(8,034
)
 
701,495

 
Total liabilities
6,865,929

 
(24,016
)
 
6,841,913

 
 
 
 
 
 
 
 
 
 
 
Redeemable non-controlling interests
21,467

 

 
21,467

 
Commitments and contingencies

 

 

 
 
 
 
 
 
 
 
 
 
 
Equity
 
 
 
 
 
 
 
 
 
Common stock, $0.01 par value, authorized 3,000,000,000 shares,
 
 
 
 
 
 
 
 
229,689,960 shares outstanding
2,297

 

 
2,297

 
 
Additional paid in capital
2,543,690

 

 
2,543,690

 
 
Accumulated other comprehensive loss
(6,812
)
 

 
(6,812
)
 
 
Distributions accumulated losses
(196,707
)
 

 
(196,707
)
 
Total stockholders' equity
2,342,468

 

 
2,342,468

 
 
Non-controlling interests
942,052

 
(174,001
)
 
768,051

 
Total equity
3,284,520

 
(174,001
)
 
3,110,519

 
Total liabilities and equity
$
10,171,916

 
$
(198,017
)
 
$
9,973,899

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Reflects the impact of distributing the Excluded Properties as if the distribution was completed on December 31, 2013.
 
 
 
 


Page 23




Brixmor Property Group
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
 
 
 
 
 
 
 
 
Reconciliation of GAAP Statements of Operations to Pro Forma Statements of Operations (Unaudited, dollars in thousands, except per share amounts)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended 3/31/14
 
Three Months Ended 3/31/13
 
 
 
 
 
 
Actual Results
 
Adjustments (1)
 
Pro Forma
 
Actual Results
 
Adjustments (1)
 
Pro Forma
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Rental income
$
237,260

 
$

 
$
237,260

 
$
214,558

 
$
16,771

 
$
231,329

 
 
 
Expense reimbursements
68,623

 

 
68,623

 
59,603

 
4,071

 
63,674

 
 
 
Other revenues
1,813

 

 
1,813

 
3,157

 
(753
)
 
2,404

 
 
Total revenues
307,696

 

 
307,696

 
277,318

 
20,089

 
297,407

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating expenses
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating costs
34,888

 

 
34,888

 
29,846

 
2,358

 
32,204

 
 
 
Real estate taxes
44,446

 

 
44,446

 
41,700

 
2,364

 
44,064

 
 
 
Depreciation and amortization
113,268

 

 
113,268

 
111,777

 
11,594

 
123,371

 
 
 
Provision for doubtful accounts
2,877

 

 
2,877

 
2,324

 
154

 
2,478

 
 
 
Impairment of real estate assets

 

 

 

 

 

 
 
 
General and administrative
19,658

 

 
19,658

 
23,068

 
327

 
23,395

 
 
Total operating expenses
215,137

 

 
215,137

 
208,715

 
16,797

 
225,512

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other income (expense)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dividends and interest
108

 

 
108

 
181

 
2

 
183

 
 
 
Interest expense
(67,966
)
 

 
(67,966
)
 
(91,871
)
 
18,911

 
(72,960
)
 
 
 
Gain (loss) on sale of real estate assets
378

 

 
378

 

 
(161
)
 
(161
)
 
 
 
Gain (loss) on extinguishment of debt, net
(2,276
)
 

 
(2,276
)
 
2,150

 
(2,150
)
 

 
 
 
Other
 
(2,161
)
 

 
(2,161
)
 
(960
)
 

 
(960
)
 
 
Total other income (expense)
(71,917
)
 

 
(71,917
)
 
(90,500
)
 
16,602

 
(73,898
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) before equity in income of unconsolidated joint ventures
20,642

 

 
20,642

 
(21,897
)
 
19,894

 
(2,003
)
 
 
Equity in income of unconsolidated joint ventures
65

 
13

 
78

 
247

 
(190
)
 
57

 
 
Gain on disposal of investments in unconsolidated joint ventures
1,820

 
(1,820
)
 

 

 

 

 
 
Income (loss) from continuing operations
22,527

 
(1,807
)
 
20,720

 
(21,650
)
 
19,704

 
(1,946
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Discontinued operations
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income from discontinued operations
4,787

 
(4,787
)
 

 
(763
)
 
763

 

 
 
 
Gain on disposition of operating properties
14,426

 
(14,426
)
 

 

 

 

 
 
 
Impairment on real estate held for sale

 

 

 
(3,033
)
 
3,033

 

 
 
Income (loss) from discontinued operations
19,213

 
(19,213
)
 

 
(3,796
)
 
3,796

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
41,740

 
(21,020
)
 
20,720

 
(25,446
)
 
23,500

 
(1,946
)
 
 
Non-controlling interests
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net (income) loss attributable to non-controlling interests
(26,339
)
 
21,019

 
(5,320
)
 
5,947

 
(5,719
)
 
228

 
 
Net income (loss) attributable to common stockholders
$
15,401

 
$
(1
)
 
$
15,400

 
$
(19,499
)
 
$
17,781

 
$
(1,718
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Per common share:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic
$
0.07

 
$

 
$
0.07

 
$
(0.09
)
 
$
0.08

 
$
(0.01
)
 
 
 
 
Diluted
$
0.07

 
$

 
$
0.07

 
$
(0.09
)
 
$
0.08

 
$
(0.01
)
 
 
 
Net income (loss) attributable to common stockholders:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic
$
0.07

 
$

 
$
0.07

 
$
(0.11
)
 
$
0.10

 
$
(0.01
)
 
 
 
 
Diluted
$
0.07

 
$

 
$
0.07

 
$
(0.11
)
 
$
0.10

 
$
(0.01
)
 
 
 
Weighted average number of vested common shares:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic
228,113

 

 
228,113

 
180,675

 
47,438

 
228,113

 
 
 
 
Diluted
229,365

 

 
229,365

 
180,675

 
47,438

 
228,113

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Reflects the impact of the following transactions associated with the IPO including (i) the contribution of the Acquired Properties (ii) the distribution of the Excluded Properties (iii) the acquisition of the interest not already held in Arapahoe Crossings L.P. (iv) borrowings under the unsecured credit facility, including the use thereof and (v) the net proceeds from the IPO, including the use thereof.  The pro forma adjustments associated with these transactions assume that each transaction was completed as of January 1, 2013.  

Page 24





 
 
 
 
 
 
Transaction Summary

Supplemental Disclosure
Three Months Ended March 31, 2014
 






Brixmor Property Group
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
Acquisitions (Dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
There were no acquisitions during the three months ended March 31, 2014.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 



Page 26




Brixmor Property Group
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
Dispositions (Dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
Property Type (1)
 
MSA
 
 
 
Sale Date
 
Sale Amount
 
Gain / (loss)
 
Cap-Rate
 
GLA / Acres
 
Percent Leased
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Building at Sunrise Town Center
B
 
Miami-Fort Lauderdale-West Palm Beach, FL
2/11/14
 
$
3,000

 
$
378

 

 
18,000

 
0.0%
 
 
 
 
 
 
 
 
 
 
 
3,000

 
378

 

 
18,000

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL - THREE MONTHS ENDED 3/31/14
 
$
3,000

 
$
378

 

 
18,000

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) B - Building.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 



27




 
 
 
 
 
 
IPO Portfolio Summary

Supplemental Disclosure
Three Months Ended March 31, 2014
 







Brixmor Property Group
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
Portfolio Overview
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of:
 
 
 
 
 
 
 
 
 
3/31/14
 
12/31/13
 
9/30/13
 
6/30/13
 
3/31/13
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of properties
 
 
522

 
522

 
522

 
522

 
522

 
 
 
 
 
GLA
 
 
 
86,718,016

 
86,806,352

 
86,796,116

 
86,739,958

 
86,708,730

 
 
 
 
 
Percent leased
 
 
92.3
%
 
92.4
%
 
92.1
%
 
91.6
%
 
91.2
%
 
 
 
 
 
 
TOTAL ≥ 10,000 SF
 
 
96.7
%
 
97.1
%
 
96.9
%
 
96.4
%
 
96.1
%
 
 
 
 
 
 
TOTAL < 10,000 SF
 
 
81.9
%
 
81.6
%
 
80.9
%
 
80.6
%
 
80.0
%
 
 
 
 
 
Percent billed
 
 
90.5
%
 
90.7
%
 
90.2
%
 
89.9
%
 
89.6
%
 
 
 
 
 
ABR
 
 
 
$
898,961,821

 
$
895,080,953

 
$
886,800,318

 
$
878,210,270

 
$
870,724,429

 
 
 
 
 
ABR/SF
 
 
$
12.01

 
$
11.93

 
$
11.87

 
$
11.83

 
$
11.79

 
 
 
 
 
Percent grocery anchored
 
 
70
%
 
70
%
 
71
%
 
70
%
 
70
%
 
 
 
 
 
Percent community shopping centers
 
63
%
 
63
%
 
63
%
 
63
%
 
63
%
 
 
 
 
 
Percent neighborhood shopping centers
 
37
%
 
37
%
 
37
%
 
37
%
 
37
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PORTFOLIO BY UNIT SIZE AS OF 3/31/14
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of Units
 
GLA
 
Percent Leased
 
Percent Billed
 
Percent of Vacant GLA
 
 ABR
 
ABR/SF
 
 
 
 
≥ 35,000 SF
581

 
36,285,840

 
98.1
%
 
97.1
%
 
10.2
%
 
$
271,062,076

 
$
8.58

 
 
 
 
20,000 – 34,999 SF
556

 
14,631,803

 
95.9
%
 
94
%
 
8.9
%
 
129,535,912

 
9.38

 
 
 
 
10,000 - 19,999 SF
712

 
9,682,821

 
92.7
%
 
90.4
%
 
10.5
%
 
107,764,286

 
12.33

 
 
 
 
5,000 - 9,999 SF
1,382

 
9,550,269

 
83.6
%
 
81
%
 
23.3
%
 
116,423,954

 
15.26

 
 
 
 
< 5,000 SF
8,055

 
16,567,283

 
80.9
%
 
78.7
%
 
47.1
%
 
274,175,592

 
21.01

 
 
 
 
TOTAL
11,286

 
86,718,016

 
92.3
%
 
90.5
%
 
100.0
%
 
$
898,961,821

 
$
12.01

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL ≥ 10,000 SF
1,849

 
60,600,464

 
96.7
%
 
95.3
%
 
29.6
%
 
$
508,362,275

 
$
9.39

 
 
 
 
TOTAL < 10,000 SF
9,437

 
26,117,552

 
81.9
%
 
79.6
%
 
70.4
%
 
390,599,546

 
18.89

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


Page 29




Brixmor Property Group
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
Top Forty Retailers Ranked by ABR
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Retailer
 
Owned Leases
 
GLA
 
Percent of Portfolio GLA
 
ABR
 
Percent of Portfolio ABR
 
 
 
1
The Kroger Co. (1)
 
69

 
4,438,087

 
5.1
%
 
$
30,579,043

 
3.4
%
 
 
 
2
The TJX Companies, Inc. (2)
 
94

 
3,008,296

 
3.5
%
 
28,925,370

 
3.2
%
 
 
 
3
Wal-Mart Stores, Inc. (3)
 
28

 
3,478,406

 
4.0
%
 
16,701,984

 
1.9
%
 
 
 
4
Publix Super Markets, Inc. (4)
 
39

 
1,799,816

 
2.1
%
 
16,613,217

 
1.8
%
 
 
 
5
Dollar Tree Stores, Inc. (5)
 
129

 
1,473,455

 
1.7
%
 
14,813,666

 
1.6
%
 
 
 
6
Ahold USA, Inc. (6)
 
21

 
1,251,080

 
1.4
%
 
13,917,738

 
1.5
%
 
 
 
7
Sears Holdings Corporation (7)
 
29

 
2,586,256

 
3.0
%
 
11,848,895

 
1.3
%
 
 
 
8
Office Depot, Inc. (8)
 
44

 
1,006,555

 
1.2
%
 
10,873,748

 
1.2
%
 
 
 
9
PetSmart, Inc.
 
30

 
661,829

 
0.8
%
 
9,262,946

 
1.0
%
 
 
 
10
Bed Bath & Beyond Inc. (9)
 
30

 
729,787

 
0.8
%
 
9,116,697

 
1.0
%
 
 
 
 
TOP 10 RETAILERS
 
513

 
20,433,567

 
23.6
%
 
162,653,304

 
18.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11
Ross Stores, Inc. (10)
 
29

 
823,474

 
0.9
%
 
9,008,322

 
1.0
%
 
 
 
12
Best Buy Co., Inc. (11)
 
16

 
660,392

 
0.8
%
 
8,778,067

 
1.0
%
 
 
 
13
Big Lots, Inc.
 
46

 
1,469,293

 
1.7
%
 
8,523,631

 
0.9
%
 
 
 
14
Safeway Inc. (12)
 
16

 
842,883

 
1.0
%
 
8,249,737

 
0.9
%
 
 
 
15
Staples, Inc.
 
32

 
704,608

 
0.8
%
 
8,079,433

 
0.9
%
 
 
 
16
Burlington Stores, Inc.
 
14

 
1,131,459

 
1.3
%
 
7,411,648

 
0.8
%
 
 
 
17
Kohl's Corporation
 
12

 
1,019,875

 
1.2
%
 
7,263,680

 
0.8
%
 
 
 
18
PETCO Animal Supplies, Inc. (13)
 
33

 
452,093

 
0.5
%
 
6,882,833

 
0.8
%
 
 
 
19
DICK'S Sporting Goods, Inc. (14)
 
12

 
492,031

 
0.6
%
 
6,400,866

 
0.7
%
 
 
 
20
Bi-Lo Holdings, LLC (15)
 
18

 
834,061

 
1.0
%
 
6,322,599

 
0.7
%
 
 
 
 
TOP 20 RETAILERS
 
741

 
28,863,736

 
33.3
%
 
239,574,120

 
26.7
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
21
Ascena Retail Group, Inc. (16)
 
60

 
356,743

 
0.4
%
 
6,306,097

 
0.7
%
 
 
 
22
Hobby Lobby Stores, Inc.
 
15

 
901,320

 
1.0
%
 
5,752,027

 
0.6
%
 
 
 
23
L.A. Fitness International, LLC
 
9

 
390,095

 
0.4
%
 
5,659,224

 
0.6
%
 
 
 
24
Michaels Stores, Inc.
 
25

 
559,226

 
0.6
%
 
5,583,317

 
0.6
%
 
 
 
25
Party City Corporation
 
32

 
398,315

 
0.5
%
 
5,503,818

 
0.6
%
 
 
 
26
H.E. Butt Grocery Company (17)
 
8

 
510,551

 
0.6
%
 
5,464,118

 
0.6
%
 
 
 
27
The Home Depot, Inc.
 
8

 
799,388

 
0.9
%
 
5,447,371

 
0.6
%
 
 
 
28
Giant Eagle, Inc. (18)
 
7

 
555,560

 
0.6
%
 
5,084,234

 
0.6
%
 
 
 
29
Stage Stores, Inc. (19)
 
33

 
816,259

 
0.9
%
 
4,830,115

 
0.5
%
 
 
 
30
Walgreen Co.
 
21

 
300,253

 
0.3
%
 
4,820,891

 
0.5
%
 
 
 
31
Albertsons LLC (20)
 
8

 
456,420

 
0.5
%
 
4,583,871

 
0.5
%
 
 
 
32
Barnes & Noble, Inc.
 
12

 
258,663

 
0.3
%
 
4,459,215

 
0.5
%
 
 
 
33
The Great Atlantic & Pacific Tea Company (21)
 
7

 
330,480

 
0.4
%
 
4,396,267

 
0.5
%
 
 
 
34
CVS Caremark Corporation
 
23

 
299,440

 
0.3
%
 
4,291,282

 
0.5
%
 
 
 
35
Jo-Ann Stores, Inc.
 
22

 
422,763

 
0.5
%
 
4,246,068

 
0.5
%
 
 
 
36
Toys"R"US, Inc. (22)
 
13

 
477,284

 
0.6
%
 
4,244,320

 
0.5
%
 
 
 
37
Delhaize America Inc. (23)
 
13

 
484,158

 
0.6
%
 
4,097,418

 
0.5
%
 
 
 
38
Payless ShoeSource
 
68

 
209,597

 
0.2
%
 
4,025,404

 
0.4
%
 
 
 
39
Wakefern Food Corporation (24)
 
7

 
354,575

 
0.4
%
 
3,990,500

 
0.4
%
 

Page 30




Brixmor Property Group
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
Top Forty Retailers Ranked by ABR
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Retailer
 
Owned Leases
 
GLA
 
Percent of Portfolio GLA
 
ABR
 
Percent of Portfolio ABR
 
 
 
40
JP Morgan Chase & Co.
 
31

 
110,693

 
0.1
%
 
3,946,080

 
0.4
%
 
 
 
 
TOTAL TOP 40 RETAILERS
 
1,163

 
37,855,519

 
43.7
%
 
$
336,305,755

 
37.4
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Impact of Pending Transactions:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Merger of Safeway Inc. and Albertsons LLC
 
24

 
1,299,303

 
1.5
%
 
$
12,833,608

 
1.4
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Includes Kroger (55), Harris Teeter (3), King Soopers (3), Ralphs (3), Smith's (2), Dillons (1), Food 4 Less (1) and Pay Less (1).
 
(13) Includes PETCO (32) and Unleashed (1).
(2) Includes T.J. Maxx (50), Marshalls (36) and HomeGoods (8).
 
 
 
 
 
(14) Includes DICK'S Sporting Goods (9) and Golf Galaxy (3).
(3) Includes Supercenters (14), Discount Stores (9), Walmart Neighborhood Market (4) and Sam's Club (1).
 
 
 
(15) Includes Winn-Dixie (10), BI-LO (5) and Harveys (3).
(4) Includes Publix (38) and Publix Sabor (1).
 
 
 
 
 
(16) Includes dressbarn (28), Catherines (11), Lane Bryant (8), Justice (7) and maurices (6).
(5) Includes Dollar Tree (125), Deals (3) and Dollar Stop (1).
 
 
 
 
 
(17) Includes H-E-B (7) and Central Market (1).
(6) Includes Giant Food (10), Super Stop & Shop (7), Martin's Food Markets (2), Stop & Shop (1) and Tops (1).
 
 
 
(18) Includes Giant Eagle (6) and Good Cents Grocery + More (1).
(7) Includes Kmart (25), Sears (3) and Sears Outlet (1).
 
 
 
 
 
(19) Includes Bealls Outlet (12), Peebles (9), Bealls (6), Palais Royal (3), Goody's (2), and Stage (1).
(8) Includes Office Depot (24) and OfficeMax (20).
 
 
 
 
 
(20) Includes Shaw's (3), Albertsons (2), Jewel-Osco (2) and Acme (1).
(9) Includes Bed Bath & Beyond (16), Harmon Face Values (6), Christmas Tree Shops (4), World Market (3) and buybuy BABY (1).
 
(21) Includes A&P (3), Pathmark (2), Superfresh (1) and Waldbaum's (1).
(10) Includes Ross Dress for Less.
 
 
 
 
 
(22) Includes Babies"R"Us (8) and Toys"R"Us (5).
(11) Includes Best Buy.
 
 
 
 
 
 
 
(23) Includes Food Lion (10), Hannaford (2) and Bottom Dollar Food (1).
(12) Includes Vons (5), Randalls (4), Dominick's (3), Tom Thumb (3) and Safeway (1).
 
 
 
 
 
(24) Includes ShopRite (4) and PriceRite (3).




Page 31





Brixmor Property Group
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
New & Renewal Lease Summary
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Comparable Only
 
Renewal Rate
(by count)
 
Renewal Rate
(by GLA)
 
 
 
 
 
 
 
 
Leases
 
GLA
 
New ABR
 
 
New ABR / SF
 
Leases
 
Rent Growth (1)
 
 
 
 
 
 
TOTAL - ALL LEASES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 3/31/14
 
 
525

 
2,936,680

 
$
38,070,170

 
 
$
12.96

 
392

 
11.3
%
 

 

 
 
 
 
Three months ended 12/31/13
 
538

 
3,312,489

 
39,623,745

 
 
11.96

 
397

 
11
%
 

 

 
 
 
 
Three months ended 9/30/13
 
 
640

 
4,052,233

 
48,187,519

 
 
11.89

 
487

 
11.5
%
 

 

 
 
 
 
Three months ended 6/30/13
 
 
580

 
2,852,905

 
36,861,547

 
 
12.92

 
416

 
8.4
%
 

 

 
 
 
 
TOTAL - TTM
 
 
 
2,283

 
13,154,307

 
$
162,742,981

 
 
$
12.37

 
1,692

 
10.7
%
 

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NEW LEASES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 3/31/14
 
 
202

 
744,131

 
$
11,295,760

 
 
$
15.18

 
69

 
21
%
 

 

 
 
 
 
Three months ended 12/31/13
 
199

 
859,397

 
12,926,819

 
 
15.04

 
58

 
24.8
%
 

 

 
 
 
 
Three months ended 9/30/13
 
 
217

 
975,183

 
12,937,956

 
 
13.27

 
64

 
50.9
%
 

 

 
 
 
 
Three months ended 6/30/13
 
 
234

 
949,309

 
13,282,929

 
 
13.99

 
70

 
22.7
%
 

 

 
 
 
 
TOTAL - TTM
 
 
 
852

 
3,528,020

 
$
50,443,464

 
 
$
14.3

 
261

 
28.7
%
 

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
RENEWAL & OPTION LEASES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 3/31/14
 
 
323

 
2,192,549

 
$
26,774,410

 
 
$
12.21

 
323

 
9.5
%
 
79.6
%
 
84.2
%
 
 
 
 
Three months ended 12/31/13
 
339

 
2,453,092

 
26,696,927

 
 
10.88

 
339

 
8.5
%
 
77.2
%
 
90.5
%
 
 
 
 
Three months ended 9/30/13
 
 
423

 
3,077,050

 
35,249,563

 
 
11.46

 
423

 
7.6
%
 
77.9
%
 
82.7
%
 
 
 
 
Three months ended 6/30/13
 
 
346

 
1,903,596

 
23,578,618

 
 
12.39

 
346

 
5.9
%
 
77.1
%
 
83
%
 
 
 
 
TOTAL - TTM
 
 
 
1,431

 
9,626,287

 
$
112,299,517

 
 
$
11.67

 
1,431

 
7.9
%
 
78
%
 
85.3
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
RENT GROWTH BY TENANT SIZE
 
 
 
 
 
 
 
 
LEASES BY ANCHOR AND SMALL SHOP - THREE MONTHS ENDED 3/31/14
 
 
 
 
 
 
 
 
Three Months Ended
 
 
 
 
% of Leases
 
% of GLA
 
% of ABR
 
 New ABR / SF
 
 
 
 
TOTAL - ALL LEASES
 
3/31/14
 
12/31/13
 
9/30/13
 
6/30/13
 
 
Anchor Leases (≥ 10,000 SF)
 
 
 
 
 
 
 
 
 
 
≥ 35,000 SF
 
4.1
%
 
8.2
%
 
15.1
%
 
8.6
%
 
 
Total - All leases
 
11
%
 
58
%
 
40
%
 
$
8.91

 
 
 
 
20,000 – 34,999 SF
 
11.4
%
 
19.9
%
 
11.4
%
 
3.6
%
 
 
New leases
 
7
%
 
32
%
 
21
%
 
9.8

 
 
 
 
10,000 - 19,999 SF
 
13.8
%
 
7.7
%
 
13.6
%
 
17.3
%
 
 
Renewal leases
 
14
%
 
67
%
 
48
%
 
8.77

 
 
 
 
5,000 - 9,999 SF
 
12.5
%
 
15.6
%
 
10.6
%
 
14.5
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
< 5,000 SF
 
13.5
%
 
9.4
%
 
9.4
%
 
5.7
%
 
 
Small Shop Leases (< 10,000 SF)
 
 
 
 
 
 
 
 
 
 
TOTAL
 
11.3
%
 
11.3
%
 
11.5
%
 
8.4
%
 
 
Total - All leases
 
89
%
 
42
%
 
60
%
 
$
18.65

 
 
 
 
TOTAL ≥ 10,000 SF
 
8.9
%
 
11.1
%
 
13.5
%
 
9.5
%
 
 
New leases
 
93
%
 
68
%
 
79
%
 
17.75

 
 
 
 
TOTAL < 10,000 SF
 
13.2
%
 
10.9
%
 
9.7
%
 
7.7
%
 
 
Renewal leases
 
86
%
 
33
%
 
52
%
 
19.27

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Cash.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Page 32




Brixmor Property Group
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
 
 
 
New Lease Net Effective Rent
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Twelve Months Ended
 
Three Months Ended
 
 
 
 
3/31/2014
 
3/31/2014
 
12/31/2013
 
9/30/2013
 
6/30/2013
 
NEW LEASES
 
 
 
 
 
 
 
 
 
 
 
Weighted average over lease term:
 
 
 
 
 
 
 
 
 
 
 
 
Base rent
 
$
14.93

 
$
15.81

 
$
15.84

 
$
13.73

 
$
14.65

 
 
TI/TA allowance
 
(1.78
)
 
(2.1
)
 
(1.94
)
 
(1.63
)
 
(1.53
)
 
 
Landlord work
 
(0.83
)
 
(0.5
)
 
(0.71
)
 
(0.67
)
 
(1.35
)
 
 
Third party leasing commissions
 
(0.39
)
 
(0.38
)
 
(0.42
)
 
(0.37
)
 
(0.39
)
 
 
Rent concessions
 

 

 

 

 

 
EQUIVALENT NET EFFECTIVE RENT
 
$
11.93

 
$
12.83

 
$
12.77

 
$
11.05

 
$
11.38

 
Net effective rent / base rent
 
80
%
 
81
%
 
81
%
 
81
%
 
78
%
 
Weighted average term (years)
 
7.9

 
7.2

 
8.9

 
7.9

 
7.7

 
 
 
 
 
 
 
 
 
 
 
 
 
 
PERCENT OF TOTAL EQUIVALENT NET EFFECTIVE RENT BY ANCHOR AND SMALL SHOP
 
 
 
 
 
 
≥ 10,000 SF
 
32
%
 
20
%
 
33
%
 
38
%
 
34
%
 
 
< 10,000 SF
 
68
%
 
80
%
 
67
%
 
62
%
 
66
%



Page 33




Brixmor Property Group
 
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
Anchor Space Repositioning Summary (Dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
 
MSA
 
 
 
 
 
 
Description
 
 
IN PROCESS ANCHOR SPACE REPOSITIONINGS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1
Bakersfield Plaza
 
 
Bakersfield, CA
 
 
 
 
Remerchandise former CVS with a 29K SF Ross Dress for Less
 
2
Westminster City Center
 
Denver-Aurora-Lakewood, CO
 
 
Reconfigure former Circuit City with a 26K SF Ross Dress for Less and a 23K SF Jo-Ann Fabrics and remerchandise vacant junior anchor with an 11K SF Ulta
 
3
Stratford Square
 
 
Bridgeport-Stamford-Norwalk, CT
 
 
Reconfigure former movie theatre with a 49K SF LA Fitness
 
4
The Manchester Collection
 
Hartford-West Hartford-East Hartford, CT
 
Remerchandise former Sports Authority with a 42K SF Hobby Lobby and reconfigure former Petco and ajacent vacancy with a 25K SF Ashley Furniture
 
5
Colonial Marketplace
 
Orlando-Kissimmee-Sanford, FL
 
 
Reconfigure former AC Moore and OfficeMax with a 60K SF Burlington Coat Factory
 
6
Pointe Orlando
 
 
Orlando-Kissimmee-Sanford, FL
 
 
Addition of a 7K SF Blue Martini Lounge, a 6K SF RA Sushi and a 3K SF Minus 5 Ice Bar
 
7
Hamilton Plaza-Kmart Plaza
 
Trenton, NJ
 
 
 
 
 
 
Reconfigure former Acme with a 19K SF Planet Fitness and a 13K SF restaurant
 
8
McMullen Creek Market
 
Charlotte-Concord-Gastonia, NC-SC
 
 
Reconfigure 25K SF Staples and adjacent vacant junior anchor with a 45K SF Walmart Neighborhood Market and relocate existing 6K SF Lebo's Footwear to enable rightsizing of Staples to 13K SF
 
9
University Commons
 
Greenville, NC
 
 
 
 
 
Remerchandise a 29K SF former Circuit City with a 14K SF Petco, a 9K SF Kirkland's and a 6K SF Sleepy's
 
10
Midway Market Square
 
Cleveland-Elyria, OH
 
 
 
 
Remerchandise former furniture store with a 26K SF Jo-Ann Fabric & Craft Store
 
11
Miracle Mile Shopping Plaza
 
Toledo, OH
 
 
 
 
 
 
Combination of former JCPenney and five adjacent small shop spaces for a 45K SF LA Fitness and an additional 8K SF of retail space
 
12
Collegetown Shopping Center
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
Reconfigure former Acme with a 42K SF LA Fitness and an additional 5K SF of retail space
 
13
Pilgrim Gardens
 
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
Remerchandise former Loehmann's with a 22K SF Ross Dress for Less
 
14
Dillsburg Shopping Center
 
York-Hanover, PA
 
 
 
 
Reconfigure former Giant Food (Ahold) to accommodate a 38K SF Tractor Supply and a 7K SF freestanding Advanced Auto Parts
 
15
Five Points
 
 
Corpus Christi, TX
 
 
 
 
Remerchandise shopping center with the addition of a 23K SF Burke's Outlet, a 16K SF Party City, a 13K SF PETCO, a 26K SF Ross Dress for Less and the expansion of Beall's to a 35K SF prototype
 
16
Mequon Pavilions
 
Milwaukee-Waukesha-West Allis, WI
 
 
Combination of four adjacent small shop spaces for a 25K SF Marshalls and relocation of existing 5K SF Men's Wearhouse and 3K SF Fitness together
 
17
Hunting Hills
 
 
Roanoke, VA
 
 
 
 
 
 
Reconfigure former Walmart with a 101K SF Kohl’s and a 17K SF PetSmart and remerchandise small shop space with a 10K SF Dollar Tree and a 7K SF Rack Room Shoes
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
COMPLETED ANCHOR SPACE REPOSITIONINGS - THREE MONTHS ENDED 3/31/14
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1
San Dimas Plaza
 
 
Los Angeles-Long Beach-Anaheim, CA
 
 
Addition of a 46K SF Smart & Final Extra! in former Ralphs (Kroger)
 
2
South Towne Centre
 
Dayton, OH
 
 
 
 
 
 
Combination of five adjacent small shop spaces for a 14K SF OfficeMax
 
3
County Line Plaza
 
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
Rightsize existing 67K SF VF Outlet to 35K SF and demise remaining space for a 21K SF Bottom Dollar (Delhaize) and an additional retailer; remerchandise former Payless ShoeSource with a 4K SF Sherwin Williams and an existing outparcel with a 3K SF TD Bank
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2014 Anchor Space Repositionings:
 
 
 
 
 
 
 
 
 
Number of Projects
 
Expected Total
Project Costs
 
NOI Yield
 
 
 
 
 
 
 
In Process
17
 
$
67,654

 
14.3%
 
 
 
 
 
 
 
Completed
3
 
12,411

 
10.0%
 
 
 
 
 
 
 
TOTAL
20
 
$
80,064

 
13.6%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




Page 34




Brixmor Property Group
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Lease Expiration Schedule
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL PORTFOLIO
 
SPACES > 10,000 SF
 
SPACES < 10,000 SF
 
 
 
 
 
 
Number of
 
 
 
Percent of
 
 
 
Percent
 
Number of
 
 
 
Percent of
 
 
 
Percent
 
Number of
 
 
 
Percent of
 
 
 
Percent
 
 
 
 
 
 
Leases
 
Leased GLA
 
Leased GLA
 
ABR / SF
 
of ABR
 
Leases
 
Leased GLA
 
Leased GLA
 
ABR / SF
 
of ABR
 
Leases
 
Leased GLA
 
Leased GLA
 
ABR / SF
 
of ABR
 
 
 
ASSUMES NO EXERCISE OF RENEWAL OPTIONS AND NO BASE RENT ESCALATIONS OVER LEASE TERM
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Month to Month
374

 
1,126,428

 
1.4
%
 
$
12.58

 
1.6
%
 
14

 
305,300

 
0.5
%
 
$
6.89

 
0.4
%
 
360

 
821,128

 
3.8
%
 
$
14.69

 
3.1
%
 
 
 
 
2014
 
1,077

 
4,811,724

 
6.0
%
 
11.91

 
6.4
%
 
85

 
2,307,498

 
3.9
%
 
7.39

 
3.4
%
 
992

 
2,504,226

 
11.7
%
 
16.08

 
10.3
%
 
 
 
 
2015
 
1,617

 
11,698,042

 
14.6
%
 
10.71

 
13.9
%
 
270

 
8,275,181

 
14.1
%
 
8.05

 
13.1
%
 
1,347

 
3,422,861

 
16.0
%
 
17.14

 
15.0
%
 
 
 
 
2016
 
1,578

 
11,923,839

 
14.9
%
 
11.27

 
14.9
%
 
247

 
8,301,111

 
14.2
%
 
8.41

 
13.7
%
 
1,331

 
3,622,728

 
16.9
%
 
17.82

 
16.5
%
 
 
 
 
2017
 
1,389

 
10,124,889

 
12.7
%
 
11.88

 
13.4
%
 
227

 
7,015,039

 
12.0
%
 
8.76

 
12.1
%
 
1,162

 
3,109,850

 
14.5
%
 
18.93

 
15.1
%
 
 
 
 
2018
 
1,272

 
9,595,312

 
12.0
%
 
12.05

 
12.9
%
 
203

 
6,560,385

 
11.2
%
 
8.84

 
11.4
%
 
1,069

 
3,034,927

 
14.2
%
 
18.99

 
14.8
%
 
 
 
 
2019
 
733

 
7,636,541

 
9.5
%
 
10.78

 
9.2
%
 
173

 
5,894,003

 
10.1
%
 
8.38

 
9.7
%
 
560

 
1,742,538

 
8.1
%
 
18.9

 
8.4
%
 
 
 
 
2020
 
258

 
3,716,137

 
4.6
%
 
10.93

 
4.5
%
 
84

 
3,113,706

 
5.3
%
 
9.09

 
5.6
%
 
174

 
602,431

 
2.8
%
 
20.41

 
3.1
%
 
 
 
 
2021
 
229

 
3,114,732

 
3.9
%
 
11.21

 
3.9
%
 
85

 
2,597,019

 
4.4
%
 
9.57

 
4.9
%
 
144

 
517,713

 
2.4
%
 
19.42

 
2.6
%
 
 
 
 
2022
 
227

 
3,474,548

 
4.3
%
 
10.61

 
4.1
%
 
81

 
2,913,444

 
5.0
%
 
8.62

 
4.9
%
 
146

 
561,104

 
2.6
%
 
20.95

 
3.0
%
 
 
 
 
2023+
 
672

 
12,793,856

 
16.0
%
 
10.72

 
15.3
%
 
291

 
11,336,941

 
19.3
%
 
9.32

 
20.8
%
 
381

 
1,456,915

 
6.8
%
 
21.61

 
8.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ASSUMES EXERCISE OF ALL RENEWAL OPTIONS AND ANY BASE RENT ESCALATIONS OVER LEASE TERM (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Month to Month
374

 
1,126,428

 
1.4
%
 
$
12.89

 
1.4
%
 
14

 
305,300

 
0.5
%
 
$
7.34

 
0.4
%
 
360

 
821,128

 
3.8
%
 
$
14.95

 
2.8
%
 
 
 
 
2014
 
800

 
2,546,042

 
3.2
%
 
13.22

 
3.2
%
 
36

 
747,276

 
1.3
%
 
6.34

 
0.8
%
 
764

 
1,798,766

 
8.4
%
 
16.08

 
6.7
%
 
 
 
 
2015
 
1,029

 
3,643,783

 
4.6
%
 
13.64

 
4.7
%
 
71

 
1,427,086

 
2.4
%
 
8.17

 
1.9
%
 
958

 
2,216,697

 
10.4
%
 
17.17

 
8.8
%
 
 
 
 
2016
 
933

 
3,559,604

 
4.4
%
 
13.76

 
4.7
%
 
64

 
1,501,845

 
2.6
%
 
7.94

 
1.9
%
 
869

 
2,057,759

 
9.6
%
 
18.01

 
8.5
%
 
 
 
 
2017
 
865

 
3,238,152

 
4.0
%
 
14.4

 
4.4
%
 
54

 
1,291,737

 
2.2
%
 
8.28

 
1.7
%
 
811

 
1,946,415

 
9.1
%
 
18.45

 
8.3
%
 
 
 
 
2018
 
688

 
2,429,766

 
3.0
%
 
16.38

 
3.8
%
 
45

 
889,515

 
1.5
%
 
11.73

 
1.7
%
 
643

 
1,540,251

 
7.2
%
 
19.07

 
6.8
%
 
 
 
 
2019
 
533

 
2,608,554

 
3.3
%
 
13.7

 
3.4
%
 
51

 
1,279,839

 
2.2
%
 
9.21

 
1.9
%
 
482

 
1,328,715

 
6.2
%
 
18.03

 
5.5
%
 
 
 
 
2020
 
366

 
2,342,096

 
2.9
%
 
12.91

 
2.9
%
 
52

 
1,458,021

 
2.5
%
 
9.23

 
2.2
%
 
314

 
884,075

 
4.1
%
 
18.98

 
3.9
%
 
 
 
 
2021
 
385

 
1,900,206

 
2.4
%
 
15.59

 
2.8
%
 
37

 
856,346

 
1.5
%
 
10.02

 
1.4
%
 
348

 
1,043,860

 
4.9
%
 
20.17

 
4.9
%
 
 
 
 
2022
 
386

 
1,868,711

 
2.3
%
 
16.1

 
2.9
%
 
44

 
852,833

 
1.5
%
 
9.92

 
1.4
%
 
342

 
1,015,878

 
4.7
%
 
21.29

 
5.0
%
 
 
 
 
2023+
 
3,067

 
54,752,706

 
68.4
%
 
12.6

 
65.8
%
 
1,292

 
48,009,829

 
81.9
%
 
10.84

 
84.7
%
 
1,775

 
6,742,877

 
31.5
%
 
25.08

 
39.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) ABR for leases whose future option rent is based on fair market value or CPI is reported as the ABR for the last year of the current lease term.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ABR/SF includes ground leases.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




Page 35




Brixmor Property Group
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
 
 
 
 
 
 
 
Redevelopment Summary (Dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Construction
 
 Expected
 
 
 
 
 
 
 
 
 
 
 
Percent
 
Stabilization
 
Percent
 
 Total
 
NOI
 
 
 
Property Name
 
MSA
 
Project Description
 
Leased
 
Quarter
 
Complete
 
 Project Cost
 
Yield
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
IN PROCESS REDEVELOPMENTS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1
Florence Plaza - Florence Square
Cincinnati, OH-KY-IN
 
Redevelopment of former theatre and adjacent small shop space to accommodate a 124K SF Kroger Marketplace
 
97.1
%
 
Jun-14
 
52
%
 
$
6,604

 
10
%
 
 
2
The Commons at Wolfcreek
 
Memphis, TN-MS-AR
 
Rightsizing of existing 50K SF Value City Furniture to 38K SF and remerchandise excess space and adjacent retail space with a 74K SF Academy Sports in a newly constructed building
 
93.9
%
 
Dec-14
 
21
%
 
7,862

 
10.8
%
 
 
3
Valley Crossing
 
Hickory-Lenoir-Morganton, NC
Redevelopment of north end of shopping center with a 71K SF Academy Sports, a 16K SF Harbor Freight Tools and one new junior anchor, as well as façade improvements
 
84.8
%
 
Jun-14
 
88
%
 
7,667

 
11.9
%
 
 
 
TOTAL IN PROCESS REDEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE
 
 
 
 
 
 
 
$
22,133

 
10.9
%
 



Page 36




Brixmor Property Group
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
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 2012 Population
 
 
 
Properties
 
GLA
 
Leased
 
Billed
 
 ABR
 
 ABR / SF
 
Properties
 
of GLA
 
of ABR
 
 
1
New York-Newark-Jersey City, NY-NJ-PA
 
 
 
30
 
3,631,037

 
94.2
%
 
92.8
%
 
$
59,406

 
$
18.08

 
5.7
%
 
4.2
%
 
6.6
%
 
 
2
Los Angeles-Long Beach-Anaheim, CA
 
 
 
9
 
1,684,935

 
98.5
%
 
95.3
%
 
27,424

 
16.90

 
1.7
%
 
1.9
%
 
3.1
%
 
 
3
Chicago-Naperville-Elgin, IL-IN-WI
 
 
 
16
 
3,950,581

 
93.3
%
 
91.8
%
 
43,798

 
12.42

 
3.1
%
 
4.6
%
 
4.9
%
 
 
4
Dallas-Fort Worth-Arlington, TX
 
 
 
16
 
2,965,448

 
91.2
%
 
89.5
%
 
39,293

 
14.74

 
3.1
%
 
3.4
%
 
4.4
%
 
 
5
Houston-The Woodlands-Sugar Land, TX
 
 
 
38
 
4,657,292

 
95.4
%
 
94.6
%
 
47,004

 
10.91

 
7.3
%
 
5.4
%
 
5.2
%
 
 
6
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
 
27
 
4,200,746

 
94.3
%
 
91.8
%
 
52,942

 
15.08

 
5.2
%
 
4.8
%
 
5.9
%
 
 
7
Washington-Arlington-Alexandria, DC-VA-MD-WV
 
 
3
 
451,260

 
96.2
%
 
95.1
%
 
4,527

 
10.43

 
0.6
%
 
0.5
%
 
0.5
%
 
 
8
Miami-Fort Lauderdale-West Palm Beach, FL
 
 
 
10
 
1,729,374

 
85.0
%
 
82.1
%
 
19,145

 
13.58

 
1.9
%
 
2.0
%
 
2.1
%
 
 
9
Atlanta-Sandy Springs-Roswell, GA
 
 
 
24
 
3,587,684

 
88.7
%
 
86.2
%
 
32,352

 
10.27

 
4.6
%
 
4.1
%
 
3.6
%
 
 
10
Boston-Cambridge-Newton, MA-NH
 
 
 
5
 
536,451

 
91.5
%
 
91.5
%
 
5,978

 
12.17

 
1.0
%
 
0.6
%
 
0.7
%
 
 
 
Top 10 Largest US MSAs by Population
 
 
 
178
 
27,394,808

 
92.9
%
 
91.1
%
 
331,867

 
13.60

 
34.1
%
 
31.6
%
 
36.9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11
San Francisco-Oakland-Hayward, CA
 
 
 
2
 
476,369

 
93.5
%
 
90.1
%
 
8,434

 
25.13

 
0.4
%
 
0.5
%
 
0.9
%
 
 
12
Riverside-San Bernardino-Ontario, CA
 
 
 
4
 
537,795

 
93.2
%
 
92.0
%
 
6,198

 
12.46

 
0.8
%
 
0.6
%
 
0.7
%
 
 
13
Phoenix-Mesa-Scottsdale, AZ
 
 
 
1
 
119,525

 
79.6
%
 
79.6
%
 
604

 
6.34

 
0.2
%
 
0.1
%
 
0.1
%
 
 
14
Detroit-Warren-Dearborn, MI
 
 
 
9
 
1,623,470

 
92.2
%
 
90.7
%
 
15,673

 
11.27

 
1.7
%
 
1.9
%
 
1.7
%
 
 
15
Seattle-Tacoma-Bellevue, WA
 
 
 
0
 

 

 

 

 

 

 

 

 
 
16
Minneapolis-St. Paul-Bloomington, MN-WI
 
 
 
8
 
1,191,459

 
91.2
%
 
90.9
%
 
12,585

 
12.39

 
1.5
%
 
1.4
%
 
1.4
%
 
 
17
San Diego-Carlsbad, CA
 
 
 
2
 
505,814

 
98.8
%
 
98.4
%
 
8,884

 
18.40

 
0.4
%
 
0.6
%
 
1.0
%
 
 
18
Tampa-St. Petersburg-Clearwater, FL
 
 
 
15
 
2,385,302

 
93.5
%
 
92.3
%
 
25,655

 
12.14

 
2.9
%
 
2.8
%
 
2.9
%
 
 
19
St. Louis, MO-IL
 
 
 
4
 
670,045

 
88.9
%
 
88.9
%
 
4,806

 
8.65

 
0.8
%
 
0.8
%
 
0.5
%
 
 
20
Baltimore-Columbia-Towson, MD
 
 
 
1
 
219,862

 
99.5
%
 
99.5
%
 
2,543

 
11.62

 
0.2
%
 
0.3
%
 
0.3
%
 
 
 
Top 20 Largest US MSAs by Population
 
 
 
224
 
35,124,449

 
92.9
%
 
91.2
%
 
417,247

 
13.41

 
42.9
%
 
40.5
%
 
46.4
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
21
Denver-Aurora-Lakewood, CO
 
 
 
5
 
1,199,769

 
94.9
%
 
87.3
%
 
13,529

 
11.95

 
1.0
%
 
1.4
%
 
1.5
%
 
 
22
Pittsburgh, PA
 
 
 
1
 
218,714

 
100.0
%
 
100.0
%
 
1,697

 
8.52

 
0.2
%
 
0.3
%
 
0.2
%
 
 
23
Charlotte-Concord-Gastonia, NC-SC
 
 
 
7
 
1,831,719

 
87.6
%
 
85.5
%
 
14,122

 
9.62

 
1.3
%
 
2.1
%
 
1.6
%
 
 
24
Portland-Vancouver-Hillsboro, OR-WA
 
 
 
0
 

 

 

 

 

 

 

 

 
 
25
San Antonio-New Braunfels, TX
 
 
 
0
 

 

 

 

 

 

 

 

 
 
26
Orlando-Kissimmee-Sanford, FL
 
 
 
7
 
996,221

 
91.1
%
 
89.7
%
 
14,208

 
16.03

 
1.3
%
 
1.1
%
 
1.6
%
 
 
27
Sacramento--Roseville--Arden-Arcade, CA
 
 
 
1
 
103,695

 
95.2
%
 
95.2
%
 
1,906

 
19.31

 
0.2
%
 
0.1
%
 
0.2
%
 
 
28
Cincinnati, OH-KY-IN
 
 
 
7
 
1,869,981

 
96.8
%
 
86.5
%
 
19,042

 
12.20

 
1.3
%
 
2.2
%
 
2.1
%
 
 
29
Cleveland-Elyria, OH
 
 
 
7
 
1,450,837

 
92.3
%
 
91.2
%
 
14,409

 
10.75

 
1.3
%
 
1.7
%
 
1.6
%
 
 
30
Kansas City, MO-KS
 
 
 
4
 
611,786

 
92.8
%
 
92.5
%
 
4,375

 
7.84

 
0.8
%
 
0.7
%
 
0.5
%
 
 
31
Las Vegas-Henderson-Paradise, NV
 
 
 
3
 
609,661

 
90.4
%
 
90.4
%
 
7,601

 
13.80

 
0.6
%
 
0.7
%
 
0.8
%
 
 
32
Columbus, OH
 
 
 
4
 
447,211

 
81.7
%
 
80.5
%
 
3,461

 
10.00

 
0.8
%
 
0.5
%
 
0.4
%
 
 
33
Indianapolis-Carmel-Anderson, IN
 
 
 
4
 
886,699

 
85.2
%
 
85.2
%
 
6,233

 
8.50

 
0.8
%
 
1.0
%
 
0.7
%
 

Page 37




Brixmor Property Group
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
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 2012 Population
 
 
 
Properties
 
GLA
 
Leased
 
Billed
 
 ABR
 
 ABR / SF
 
Properties
 
of GLA
 
of ABR
 
 
34
San Jose-Sunnyvale-Santa Clara, CA
 
 
 
0
 

 

 

 

 

 

 

 

 
 
35
Austin-Round Rock, TX
 
 
 
1
 
168,112

 
62.9
%
 
62.9
%
 
1,133

 
10.72

 
0.2
%
 
0.2
%
 
0.1
%
 
 
36
Nashville-Davidson--Murfreesboro--Franklin, TN
 
 
 
7
 
1,277,886

 
93.2
%
 
92.2
%
 
11,320

 
9.59

 
1.3
%
 
1.5
%
 
1.3
%
 
 
37
Virginia Beach-Norfolk-Newport News, VA-NC
 
 
 
2
 
205,234

 
99.6
%
 
99.6
%
 
3,236

 
15.95

 
0.4
%
 
0.2
%
 
0.4
%
 
 
38
Providence-Warwick, RI-MA
 
 
 
1
 
148,126

 
97.4
%
 
96.4
%
 
1,435

 
9.95

 
0.2
%
 
0.2
%
 
0.2
%
 
 
39
Milwaukee-Waukesha-West Allis, WI
 
 
 
4
 
714,529

 
91.5
%
 
90.4
%
 
6,683

 
10.22

 
0.8
%
 
0.8
%
 
0.7
%
 
 
40
Jacksonville, FL
 
 
 
5
 
827,528

 
81.0
%
 
81.0
%
 
8,261

 
12.42

 
1.0
%
 
1.0
%
 
0.9
%
 
 
41
Memphis, TN-MS-AR
 
 
 
1
 
658,121

 
93.9
%
 
82.7
%
 
7,447

 
12.26

 
0.2
%
 
0.8
%
 
0.8
%
 
 
42
Oklahoma City, OK
 
 
 
0
 

 

 

 

 

 

 

 

 
 
43
Louisville/Jefferson County, KY-IN
 
 
 
4
 
684,607

 
89.8
%
 
88.6
%
 
6,078

 
10.19

 
0.8
%
 
0.8
%
 
0.7
%
 
 
44
Richmond, VA
 
 
 
2
 
215,897

 
94.3
%
 
91.8
%
 
2,551

 
12.53

 
0.4
%
 
0.2
%
 
0.3
%
 
 
45
New Orleans-Metairie, LA
 
 
 
0
 

 

 

 

 

 

 

 

 
 
46
Hartford-West Hartford-East Hartford, CT
 
 
 
4
 
897,262

 
96.2
%
 
96.0
%
 
11,704

 
16.11

 
0.8
%
 
1.0
%
 
1.3
%
 
 
47
Raleigh, NC
 
 
 
2
 
291,038

 
94.1
%
 
94.1
%
 
3,406

 
15.17

 
0.4
%
 
0.3
%
 
0.4
%
 
 
48
Birmingham-Hoover, AL
 
 
 
0
 

 

 

 

 

 

 

 

 
 
49
Buffalo-Cheektowaga-Niagara Falls, NY
 
 
 
1
 
93,144

 
97.9
%
 
97.9
%
 
1,243

 
13.64

 
0.2
%
 
0.1
%
 
0.1
%
 
 
50
Salt Lake City, UT
 
 
 
0
 

 

 

 

 

 

 

 

 
 
 
Top 50 Largest US MSAs by Population
 
 
 
308
 
51,532,226

 
92.4
%
 
90.3
%
 
582,329

 
12.83

 
59.0
%
 
59.4
%
 
64.8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
MSAs Ranked 51 - 100 by Population
 
 
 
68
 
11,813,550

 
90.2
%
 
88.5
%
 
110,722

 
11.30

 
13.0
%
 
13.6
%
 
12.3
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other MSAs
 
 
 
146
 
23,372,240

 
93.1
%
 
92.0
%
 
205,911

 
10.48

 
28.0
%
 
27.0
%
 
22.9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL
 
 
 
522
 
86,718,016

 
92.3
%
 
90.5
%
 
$
898,962

 
$
12.01

 
100.0
%
 
100.0
%
 
100.0
%
 



Page 38




Brixmor Property Group
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Largest MSAs by ABR (Dollars in thousands except per square foot amounts)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent of
 
 
 
 
 
 
 
 
 
 
Number of
 
 
 
Percent
 
Percent
 
 
 
 
 
Number of
 
Percent
 
Percent
 
 
Largest MSAs by ABR
 
MSA Rank
 
Properties
 
GLA
 
Leased
 
Billed
 
 ABR
 
 ABR / SF
 
Properties
 
of GLA
 
of ABR
 
1

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

 
3,631,037

 
94.2
%
 
92.8
%
 
$
59,406

 
$
18.08

 
5.7
%
 
4.2
%
 
6.6
%
 
2

Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
6
 
27

 
4,200,746

 
94.3
%
 
91.8
%
 
52,942

 
15.08

 
5.2
%
 
4.8
%
 
5.9
%
 
3

Houston-The Woodlands-Sugar Land, TX
 
5
 
38

 
4,657,292

 
95.4
%
 
94.6
%
 
47,004

 
10.91

 
7.3
%
 
5.4
%
 
5.2
%
 
4

Chicago-Naperville-Elgin, IL-IN-WI
 
3
 
16

 
3,950,581

 
93.3
%
 
91.8
%
 
43,798

 
12.42

 
3.1
%
 
4.6
%
 
4.9
%
 
5

Dallas-Fort Worth-Arlington, TX
 
4
 
16

 
2,965,448

 
91.2
%
 
89.5
%
 
39,293

 
14.74

 
3.1
%
 
3.4
%
 
4.4
%
 
6

Atlanta-Sandy Springs-Roswell, GA
 
9
 
24

 
3,587,684

 
88.7
%
 
86.2
%
 
32,352

 
10.27

 
4.6
%
 
4.1
%
 
3.6
%
 
7

Los Angeles-Long Beach-Anaheim, CA
 
2
 
9

 
1,684,935

 
98.5
%
 
95.3
%
 
27,424

 
16.90

 
1.7
%
 
1.9
%
 
3.1
%
 
8

Tampa-St. Petersburg-Clearwater, FL
 
18
 
15

 
2,385,302

 
93.5
%
 
92.3
%
 
25,655

 
12.14

 
2.9
%
 
2.8
%
 
2.9
%
 
9

Miami-Fort Lauderdale-West Palm Beach, FL
 
8
 
10

 
1,729,374

 
85.0
%
 
82.1
%
 
19,145

 
13.58

 
1.9
%
 
2.0
%
 
2.1
%
 
10

Cincinnati, OH-KY-IN
 
28
 
7

 
1,869,981

 
96.8
%
 
86.5
%
 
19,042

 
12.20

 
1.3
%
 
2.2
%
 
2.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
10 Largest MSAs by ABR
 
 
192

 
30,662,380

 
93.2
%
 
90.8
%
 
366,060

 
13.48

 
36.8
%
 
35.4
%
 
40.7
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11

Detroit-Warren-Dearborn, MI
 
14
 
9

 
1,623,470

 
92.2
%
 
90.7
%
 
15,673

 
11.27

 
1.7
%
 
1.9
%
 
1.7
%
 
12

Cleveland-Elyria, OH
 
29
 
7

 
1,450,837

 
92.3
%
 
91.2
%
 
14,409

 
10.75

 
1.3
%
 
1.7
%
 
1.6
%
 
13

Orlando-Kissimmee-Sanford, FL
 
26
 
7

 
996,221

 
91.1
%
 
89.7
%
 
14,208

 
16.03

 
1.3
%
 
1.1
%
 
1.6
%
 
14

Charlotte-Concord-Gastonia, NC-SC
 
23
 
7

 
1,831,719

 
87.6
%
 
85.5
%
 
14,122

 
9.62

 
1.3
%
 
2.1
%
 
1.6
%
 
15

Denver-Aurora-Lakewood, CO
 
21
 
5

 
1,199,769

 
94.9
%
 
87.3
%
 
13,529

 
11.95

 
1.0
%
 
1.4
%
 
1.5
%
 
16

Allentown-Bethlehem-Easton, PA-NJ
 
68
 
5

 
1,298,490

 
96.9
%
 
96.9
%
 
12,894

 
10.89

 
1.0
%
 
1.5
%
 
1.4
%
 
17

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

 
1,191,459

 
91.2
%
 
90.9
%
 
12,585

 
12.39

 
1.5
%
 
1.4
%
 
1.4
%
 
18

Hartford-West Hartford-East Hartford, CT
 
46
 
4

 
897,262

 
96.2
%
 
96.0
%
 
11,704

 
16.11

 
0.8
%
 
1.0
%
 
1.3
%
 
19

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

 
1,277,886

 
93.2
%
 
92.2
%
 
11,320

 
9.59

 
1.3
%
 
1.5
%
 
1.3
%
 
20

Oxnard-Thousand Oaks-Ventura, CA
 
66
 
3

 
677,512

 
98.4
%
 
98.3
%
 
10,519

 
16.01

 
0.6
%
 
0.8
%
 
1.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
20 Largest MSAs by ABR
 
 
254

 
43,107,005

 
93.1
%
 
90.9
%
 
497,021

 
13.03

 
48.7
%
 
49.7
%
 
55.3
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
21

Binghamton, NY
 
185
 
4

 
751,106

 
98.9
%
 
98.9
%
 
9,580

 
12.90

 
0.8
%
 
0.9
%
 
1.1
%
 
22

Naples-Immokalee-Marco Island, FL
 
150
 
4

 
755,309

 
97.1
%
 
96.8
%
 
9,024

 
12.36

 
0.8
%
 
0.9
%
 
1.0
%
 
23

San Diego-Carlsbad, CA
 
17
 
2

 
505,814

 
98.8
%
 
98.4
%
 
8,884

 
18.40

 
0.4
%
 
0.6
%
 
1.0
%
 
24

San Francisco-Oakland-Hayward, CA
 
11
 
2

 
476,369

 
93.5
%
 
90.1
%
 
8,434

 
25.13

 
0.4
%
 
0.5
%
 
0.9
%
 
25

Jacksonville, FL
 
40
 
5

 
827,528

 
81.0
%
 
81.0
%
 
8,261

 
12.42

 
1.0
%
 
1.0
%
 
0.9
%
 
26

Las Vegas-Henderson-Paradise, NV
 
31
 
3

 
609,661

 
90.4
%
 
90.4
%
 
7,601

 
13.80

 
0.6
%
 
0.7
%
 
0.8
%
 
27

Vallejo-Fairfield, CA
 
123
 
1

 
490,407

 
97.5
%
 
96.6
%
 
7,551

 
15.86

 
0.2
%
 
0.6
%
 
0.8
%
 
28

Memphis, TN-MS-AR
 
41
 
1

 
658,121

 
93.9
%
 
82.7
%
 
7,447

 
12.26

 
0.2
%
 
0.8
%
 
0.8
%
 
29

Fresno, CA
 
56
 
2

 
427,624

 
95.2
%
 
95.2
%
 
6,961

 
17.11

 
0.4
%
 
0.5
%
 
0.8
%
 
30

New Haven-Milford, CT
 
62
 
6

 
573,187

 
87.2
%
 
84.1
%
 
6,910

 
13.82

 
1.1
%
 
0.7
%
 
0.8
%

Page 39




Brixmor Property Group
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Largest MSAs by ABR (Dollars in thousands except per square foot amounts)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent of
 
 
 
 
 
 
 
 
 
 
Number of
 
 
 
Percent
 
Percent
 
 
 
 
 
Number of
 
Percent
 
Percent
 
 
Largest MSAs by ABR
 
MSA Rank
 
Properties
 
GLA
 
Leased
 
Billed
 
 ABR
 
 ABR / SF
 
Properties
 
of GLA
 
of ABR
 
31

Port St. Lucie, FL
 
117
 
5

 
637,470

 
80.8
%
 
80.5
%
 
6,867

 
13.32

 
1.0
%
 
0.7
%
 
0.8
%
 
32

Norwich-New London, CT
 
170
 
2

 
433,602

 
97.7
%
 
97.7
%
 
6,803

 
16.05

 
0.4
%
 
0.5
%
 
0.8
%
 
33

Milwaukee-Waukesha-West Allis, WI
 
39
 
4

 
714,529

 
91.5
%
 
90.4
%
 
6,683

 
10.22

 
0.8
%
 
0.8
%
 
0.7
%
 
34

Indianapolis-Carmel-Anderson, IN
 
33
 
4

 
886,699

 
85.2
%
 
85.2
%
 
6,233

 
8.50

 
0.8
%
 
1.0
%
 
0.7
%
 
35

Worcester, MA-CT
 
58
 
4

 
587,448

 
85.1
%
 
83.7
%
 
6,221

 
12.45

 
0.8
%
 
0.7
%
 
0.7
%
 
36

Riverside-San Bernardino-Ontario, CA
 
12
 
4

 
537,795

 
93.2
%
 
92.0
%
 
6,198

 
12.46

 
0.8
%
 
0.6
%
 
0.7
%
 
37

Louisville/Jefferson County, KY-IN
 
43
 
4

 
684,607

 
89.8
%
 
88.6
%
 
6,078

 
10.19

 
0.8
%
 
0.8
%
 
0.7
%
 
38

Boston-Cambridge-Newton, MA-NH
 
10
 
5

 
536,451

 
91.5
%
 
91.5
%
 
5,978

 
12.17

 
1.0
%
 
0.6
%
 
0.7
%
 
39

Scranton--Wilkes-Barre--Hazleton, PA
 
94
 
2

 
609,072

 
100.0
%
 
95.0
%
 
5,202

 
18.95

 
0.4
%
 
0.7
%
 
0.6
%
 
40

Springfield, MA
 
85
 
3

 
456,737

 
97.0
%
 
97.0
%
 
5,052

 
13.41

 
0.6
%
 
0.5
%
 
0.6
%
 
41

Dayton, OH
 
71
 
3

 
532,521

 
93.8
%
 
93.8
%
 
4,972

 
12.33

 
0.6
%
 
0.6
%
 
0.6
%
 
42

Ann Arbor, MI
 
147
 
3

 
663,535

 
96.0
%
 
90.0
%
 
4,843

 
7.60

 
0.6
%
 
0.8
%
 
0.5
%
 
43

Wilmington, NC
 
175
 
2

 
379,107

 
95.7
%
 
94.6
%
 
4,811

 
13.40

 
0.4
%
 
0.4
%
 
0.5
%
 
44

St. Louis, MO-IL
 
19
 
4

 
670,045

 
88.9
%
 
88.9
%
 
4,806

 
8.65

 
0.8
%
 
0.8
%
 
0.5
%
 
45

College Station-Bryan, TX
 
190
 
4

 
491,763

 
93.0
%
 
92.8
%
 
4,802

 
15.23

 
0.8
%
 
0.6
%
 
0.5
%
 
46

Winston-Salem, NC
 
81
 
3

 
438,898

 
90.7
%
 
90.4
%
 
4,635

 
12.03

 
0.6
%
 
0.5
%
 
0.5
%
 
47

North Port-Sarasota-Bradenton, FL
 
74
 
4

 
556,862

 
90.6
%
 
90.3
%
 
4,560

 
9.12

 
0.8
%
 
0.6
%
 
0.5
%
 
48

Washington-Arlington-Alexandria, DC-VA-MD-WV
7
 
3

 
451,260

 
96.2
%
 
95.1
%
 
4,527

 
10.43

 
0.6
%
 
0.5
%
 
0.5
%
 
49

Greensboro-High Point, NC
 
73
 
1

 
406,768

 
97.2
%
 
97.2
%
 
4,518

 
11.42

 
0.2
%
 
0.5
%
 
0.5
%
 
50

Corpus Christi, TX
 
115
 
4

 
565,070

 
83.8
%
 
82.4
%
 
4,416

 
11.43

 
0.8
%
 
0.7
%
 
0.5
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
50 Largest MSAs by ABR
 
 
352

 
60,422,370

 
92.7
%
 
90.8
%
 
685,878

 
12.93

 
67.4
%
 
69.7
%
 
76.3
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
51

Kansas City, MO-KS
 
30
 
4

 
611,786

 
92.8
%
 
92.5
%
 
4,375

 
7.84

 
0.8
%
 
0.7
%
 
0.5
%
 
52

Manchester-Nashua, NH
 
131
 
2

 
348,189

 
99.7
%
 
99.4
%
 
4,063

 
18.72

 
0.4
%
 
0.4
%
 
0.5
%
 
53

Mobile, AL
 
127
 
1

 
611,972

 
90.2
%
 
90.2
%
 
3,984

 
7.33

 
0.2
%
 
0.7
%
 
0.4
%
 
54

Pittsfield, MA
 
312
 
1

 
442,578

 
99.9
%
 
99.9
%
 
3,795

 
19.50

 
0.2
%
 
0.5
%
 
0.4
%
 
55

Boulder, CO
 
161
 
1

 
278,790

 
82.8
%
 
80.4
%
 
3,555

 
15.40

 
0.2
%
 
0.3
%
 
0.4
%
 
56

Roanoke, VA
 
159
 
4

 
522,010

 
95.3
%
 
95.3
%
 
3,518

 
8.02

 
0.8
%
 
0.6
%
 
0.4
%
 
57

Columbus, OH
 
32
 
4

 
447,211

 
81.7
%
 
80.5
%
 
3,461

 
10.00

 
0.8
%
 
0.5
%
 
0.4
%
 
58

Raleigh, NC
 
47
 
2

 
291,038

 
94.1
%
 
94.1
%
 
3,406

 
15.17

 
0.4
%
 
0.3
%
 
0.4
%
 
59

Panama City, FL
 
225
 
2

 
397,512

 
97.8
%
 
97.5
%
 
3,257

 
8.38

 
0.4
%
 
0.5
%
 
0.4
%
 
60

Saginaw, MI
 
217
 
2

 
469,478

 
84.5
%
 
84.5
%
 
3,249

 
10.48

 
0.4
%
 
0.5
%
 
0.4
%
 
61

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

 
205,234

 
99.6
%
 
99.6
%
 
3,236

 
15.95

 
0.4
%
 
0.2
%
 
0.4
%
 
62

Jackson, MS
 
92
 
3

 
406,316

 
78.5
%
 
66.4
%
 
3,222

 
10.25

 
0.6
%
 
0.5
%
 
0.4
%
 
63

Bakersfield, CA
 
63
 
1

 
240,328

 
99.9
%
 
86.3
%
 
3,180

 
13.48

 
0.2
%
 
0.3
%
 
0.4
%

Page 40




Brixmor Property Group
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Largest MSAs by ABR (Dollars in thousands except per square foot amounts)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent of
 
 
 
 
 
 
 
 
 
 
Number of
 
 
 
Percent
 
Percent
 
 
 
 
 
Number of
 
Percent
 
Percent
 
 
Largest MSAs by ABR
 
MSA Rank
 
Properties
 
GLA
 
Leased
 
Billed
 
 ABR
 
 ABR / SF
 
Properties
 
of GLA
 
of ABR
 
64

Atlantic City-Hammonton, NJ
 
167
 
1

 
179,199

 
99.1
%
 
93.7
%
 
3,119

 
17.56

 
0.2
%
 
0.2
%
 
0.3
%
 
65

Charleston-North Charleston, SC
 
78
 
3

 
556,809

 
82.6
%
 
77.4
%
 
3,118

 
6.83

 
0.6
%
 
0.6
%
 
0.3
%
 
66

Greenville-Anderson-Mauldin, SC
 
65
 
2

 
220,723

 
95.3
%
 
95.3
%
 
2,994

 
14.24

 
0.4
%
 
0.3
%
 
0.3
%
 
67

Spartanburg, SC
 
153
 
1

 
385,609

 
73.4
%
 
72.0
%
 
2,991

 
11.30

 
0.2
%
 
0.4
%
 
0.3
%
 
68

Greenville, NC
 
236
 
1

 
233,153

 
98.7
%
 
86.4
%
 
2,954

 
12.83

 
0.2
%
 
0.3
%
 
0.3
%
 
69

Hilton Head Island-Bluffton-Beaufort, SC
 
220
 
2

 
231,852

 
93.7
%
 
93.1
%
 
2,867

 
13.20

 
0.4
%
 
0.3
%
 
0.3
%
 
70

Toledo, OH
 
89
 
2

 
609,066

 
75.7
%
 
75.7
%
 
2,861

 
6.20

 
0.4
%
 
0.7
%
 
0.3
%
 
71

Lexington-Fayette, KY
 
106
 
2

 
414,960

 
95.1
%
 
95.1
%
 
2,816

 
7.13

 
0.4
%
 
0.5
%
 
0.3
%
 
72

Elkhart-Goshen, IN
 
216
 
2

 
445,534

 
96.6
%
 
96.6
%
 
2,785

 
6.47

 
0.4
%
 
0.5
%
 
0.3
%
 
73

Tullahoma-Manchester, TN
 
377
 
3

 
433,744

 
95.8
%
 
93.8
%
 
2,769

 
6.66

 
0.6
%
 
0.5
%
 
0.3
%
 
74

Odessa, TX
 
288
 
1

 
365,559

 
100.0
%
 
97.6
%
 
2,725

 
11.93

 
0.2
%
 
0.4
%
 
0.3
%
 
75

Traverse City, MI
 
285
 
1

 
412,755

 
96.9
%
 
96.9
%
 
2,645

 
27.56

 
0.2
%
 
0.5
%
 
0.3
%
 
76

Portland-South Portland, ME
 
104
 
2

 
391,746

 
92.7
%
 
92.2
%
 
2,597

 
13.34

 
0.4
%
 
0.5
%
 
0.3
%
 
77

Richmond, VA
 
44
 
2

 
215,897

 
94.3
%
 
91.8
%
 
2,551

 
12.53

 
0.4
%
 
0.2
%
 
0.3
%
 
78

Baltimore-Columbia-Towson, MD
 
20
 
1

 
219,862

 
99.5
%
 
99.5
%
 
2,543

 
11.62

 
0.2
%
 
0.3
%
 
0.3
%
 
79

Savannah, GA
 
145
 
2

 
210,557

 
86.5
%
 
86.5
%
 
2,469

 
13.77

 
0.4
%
 
0.2
%
 
0.3
%
 
80

Des Moines-West Des Moines, IA
 
91
 
2

 
511,277

 
83.9
%
 
83.9
%
 
2,465

 
6.96

 
0.4
%
 
0.6
%
 
0.3
%
 
81

Lafayette, LA
 
108
 
3

 
433,329

 
94.0
%
 
93.3
%
 
2,453

 
6.02

 
0.6
%
 
0.5
%
 
0.3
%
 
82

Blacksburg-Christiansburg-Radford, VA
 
231
 
1

 
180,220

 
97.7
%
 
97.7
%
 
2,407

 
13.90

 
0.2
%
 
0.2
%
 
0.3
%
 
83

Fort Wayne, IN
 
122
 
2

 
254,094

 
81.1
%
 
78.0
%
 
2,394

 
13.57

 
0.4
%
 
0.3
%
 
0.3
%
 
84

Lancaster, PA
 
101
 
3

 
236,006

 
95.1
%
 
95.1
%
 
2,367

 
10.55

 
0.6
%
 
0.3
%
 
0.3
%
 
85

Chattanooga, TN-GA
 
99
 
2

 
339,426

 
95.2
%
 
95.2
%
 
2,357

 
7.91

 
0.4
%
 
0.4
%
 
0.3
%
 
86

Dover, DE
 
245
 
1

 
191,855

 
100.0
%
 
100.0
%
 
2,043

 
10.65

 
0.2
%
 
0.2
%
 
0.2
%
 
87

Durham-Chapel Hill, NC
 
102
 
2

 
182,828

 
96.1
%
 
94.5
%
 
2,018

 
11.89

 
0.4
%
 
0.2
%
 
0.2
%
 
88

Davenport-Moline-Rock Island, IA-IL
 
135
 
3

 
290,643

 
93.1
%
 
93.1
%
 
2,010

 
7.43

 
0.6
%
 
0.3
%
 
0.2
%
 
89

Corning, NY
 
379
 
1

 
253,335

 
98.5
%
 
98.5
%
 
1,986

 
7.96

 
0.2
%
 
0.3
%
 
0.2
%
 
90

Merced, CA
 
176
 
1

 
144,444

 
86.4
%
 
84.7
%
 
1,947

 
15.59

 
0.2
%
 
0.2
%
 
0.2
%
 
91

Altoona, PA
 
319
 
1

 
279,746

 
91.8
%
 
89.6
%
 
1,915

 
7.46

 
0.2
%
 
0.3
%
 
0.2
%
 
92

Rutland, VT
 
519
 
1

 
224,514

 
99.1
%
 
99.1
%
 
1,914

 
8.60

 
0.2
%
 
0.3
%
 
0.2
%
 
93

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

 
103,695

 
95.2
%
 
95.2
%
 
1,906

 
19.31

 
0.2
%
 
0.1
%
 
0.2
%
 
94

Santa Maria-Santa Barbara, CA
 
119
 
1

 
179,495

 
96.4
%
 
96.4
%
 
1,902

 
11.89

 
0.2
%
 
0.2
%
 
0.2
%
 
95

York-Hanover, PA
 
114
 
1

 
153,088

 
100.0
%
 
95.5
%
 
1,901

 
12.65

 
0.2
%
 
0.2
%
 
0.2
%
 
96

Concord, NH
 
282
 
1

 
182,887

 
100.0
%
 
100.0
%
 
1,895

 
10.61

 
0.2
%
 
0.2
%
 
0.2
%
 
97

Rochester, NY
 
51
 
1

 
191,314

 
100.0
%
 
92.9
%
 
1,831

 
9.85

 
0.2
%
 
0.2
%
 
0.2
%
 
98

Duluth, MN-WI
 
166
 
1

 
182,969

 
97.6
%
 
96.3
%
 
1,815

 
10.16

 
0.2
%
 
0.2
%
 
0.2
%
 
99

Springfield, IL
 
206
 
2

 
178,644

 
93.0
%
 
91.3
%
 
1,807

 
10.88

 
0.4
%
 
0.2
%
 
0.2
%

Page 41




Brixmor Property Group
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Largest MSAs by ABR (Dollars in thousands except per square foot amounts)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent of
 
 
 
 
 
 
 
 
 
 
Number of
 
 
 
Percent
 
Percent
 
 
 
 
 
Number of
 
Percent
 
Percent
 
 
Largest MSAs by ABR
 
MSA Rank
 
Properties
 
GLA
 
Leased
 
Billed
 
 ABR
 
 ABR / SF
 
Properties
 
of GLA
 
of ABR
 
100

Harrisburg-Carlisle, PA
 
96
 
1

 
220,288

 
89.8
%
 
89.8
%
 
1,769

 
8.94

 
0.2
%
 
0.3
%
 
0.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
100 Largest MSAs by ABR
 
 
441

 
76,135,934

 
92.6
%
 
90.7
%
 
820,089

 
12.41

 
84.5
%
 
87.8
%
 
91.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other MSAs
 
 
81

 
10,582,082

 
90.2
%
 
89.4
%
 
78,873

 
9.02

 
15.5
%
 
12.2
%
 
8.8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL
 
 
522

 
86,718,016

 
92.3
%
 
90.5
%
 
$
898,962

 
$
12.01

 
100.0
%
 
100.0
%
 
100.0
%



Page 42




Brixmor Property Group
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
Properties by State (Dollars in thousands except per square foot amounts)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent of
 
 
 
 
 
 
 
 
 
Number of
 
 
 
Percent
 
Percent
 
 
 
 
 
Number of
 
Percent
 
Percent
 
 
 
State
 
Properties
 
GLA
 
Leased
 
Billed
 
 ABR
 
 ABR / SF
 
Properties
 
of GLA
 
of ABR
 
 
1

Alabama
 
4

 
989,814

 
92.9
%
 
92.9
%
 
$
7,212

 
$
7.91

 
0.8
%
 
1.1
%
 
0.8
%
 
 
2

Arizona
 
2

 
288,110

 
83.4
%
 
83.4
%
 
1,949

 
8.11

 
0.4
%
 
0.3
%
 
0.2
%
 
 
3

California
 
29

 
5,766,056

 
96.8
%
 
94.6
%
 
86,700

 
16.22

 
5.6
%
 
6.6
%
 
9.6
%
 
 
4

Colorado
 
6

 
1,478,559

 
92.6
%
 
86.0
%
 
17,084

 
12.53

 
1.1
%
 
1.7
%
 
1.9
%
 
 
5

Connecticut
 
15

 
2,266,390

 
93.4
%
 
92.5
%
 
28,822

 
14.59

 
2.9
%
 
2.6
%
 
3.2
%
 
 
6

Delaware
 
1

 
191,855

 
100.0
%
 
100.0
%
 
2,043

 
10.65

 
0.2
%
 
0.2
%
 
0.2
%
 
 
7

Florida
 
58

 
9,031,576

 
89.7
%
 
88.6
%
 
97,796

 
12.48

 
11.1
%
 
10.4
%
 
10.9
%
 
 
8

Georgia
 
37

 
5,264,025

 
87.1
%
 
85.3
%
 
43,078

 
9.47

 
7.1
%
 
6.1
%
 
4.8
%
 
 
9

Illinois
 
24

 
4,783,523

 
93.0
%
 
91.7
%
 
50,199

 
11.83

 
4.6
%
 
5.5
%
 
5.6
%
 
 
10

Indiana
 
12

 
1,970,238

 
88.8
%
 
88.1
%
 
14,945

 
8.81

 
2.3
%
 
2.3
%
 
1.7
%
 
 
11

Iowa
 
5

 
783,917

 
87.0
%
 
87.0
%
 
4,512

 
7.42

 
1.0
%
 
0.9
%
 
0.5
%
 
 
12

Kansas
 
2

 
376,292

 
90.0
%
 
90.0
%
 
2,862

 
10.94

 
0.4
%
 
0.4
%
 
0.3
%
 
 
13

Kentucky
 
12

 
2,520,021

 
95.6
%
 
90.1
%
 
19,872

 
8.85

 
2.3
%
 
2.9
%
 
2.2
%
 
 
14

Louisiana
 
4

 
612,368

 
95.1
%
 
94.6
%
 
3,529

 
6.06

 
0.8
%
 
0.7
%
 
0.4
%
 
 
15

Maine
 
2

 
391,746

 
92.7
%
 
92.2
%
 
2,597

 
13.34

 
0.4
%
 
0.5
%
 
0.3
%
 
 
16

Maryland
 
5

 
772,277

 
96.7
%
 
96.1
%
 
9,255

 
12.45

 
1.0
%
 
0.9
%
 
1.0
%
 
 
17

Massachusetts
 
10

 
1,709,273

 
93.4
%
 
92.9
%
 
18,490

 
14.42

 
1.9
%
 
2.0
%
 
2.1
%
 
 
18

Michigan
 
19

 
3,733,555

 
91.1
%
 
89.0
%
 
31,154

 
10.80

 
3.6
%
 
4.3
%
 
3.5
%
 
 
19

Minnesota
 
10

 
1,485,108

 
92.3
%
 
91.8
%
 
15,127

 
11.64

 
1.9
%
 
1.7
%
 
1.7
%
 
 
20

Mississippi
 
3

 
406,316

 
78.5
%
 
66.4
%
 
3,222

 
10.25

 
0.6
%
 
0.5
%
 
0.4
%
 
 
21

Missouri
 
6

 
874,795

 
93.9
%
 
93.7
%
 
6,160

 
7.62

 
1.1
%
 
1.0
%
 
0.7
%
 
 
22

Nevada
 
3

 
609,661

 
90.4
%
 
90.4
%
 
7,601

 
13.80

 
0.6
%
 
0.7
%
 
0.8
%
 
 
23

New Hampshire
 
5

 
769,713

 
96.1
%
 
95.9
%
 
8,035

 
13.27

 
1.0
%
 
0.9
%
 
0.9
%
 
 
24

New Jersey
 
17

 
2,977,474

 
94.3
%
 
90.3
%
 
39,381

 
15.12

 
3.3
%
 
3.4
%
 
4.4
%
 
 
25

New Mexico
 
2

 
83,800

 
100.0
%
 
100.0
%
 
919

 
10.97

 
0.4
%
 
0.1
%
 
0.1
%
 
 
26

New York
 
33

 
4,346,619

 
94.7
%
 
93.5
%
 
60,370

 
15.12

 
6.3
%
 
5.0
%
 
6.7
%
 
 
27

North Carolina
 
22

 
4,402,848

 
90.3
%
 
88.5
%
 
39,418

 
11.00

 
4.2
%
 
5.1
%
 
4.4
%
 
 
28

Ohio
 
24

 
4,532,017

 
90.5
%
 
88.5
%
 
41,069

 
10.59

 
4.6
%
 
5.2
%
 
4.6
%
 
 
29

Oklahoma
 
1

 
186,851

 
100.0
%
 
100.0
%
 
1,760

 
9.42

 
0.2
%
 
0.2
%
 
0.2
%
 
 
30

Pennsylvania
 
37

 
6,059,617

 
95.0
%
 
93.5
%
 
65,378

 
13.14

 
7.1
%
 
7.0
%
 
7.3
%
 
 
31

Rhode Island
 
1

 
148,126

 
97.4
%
 
96.4
%
 
1,435

 
9.95

 
0.2
%
 
0.2
%
 
0.2
%
 
 
32

South Carolina
 
8

 
1,394,993

 
83.9
%
 
81.3
%
 
11,970

 
10.42

 
1.5
%
 
1.6
%
 
1.3
%
 
 
33

Tennessee
 
16

 
3,240,636

 
92.9
%
 
90.0
%
 
27,569

 
9.60

 
3.1
%
 
3.7
%
 
3.1
%
 
 
34

Texas
 
68

 
9,582,264

 
92.8
%
 
91.7
%
 
102,428

 
12.45

 
13.0
%
 
11.0
%
 
11.4
%
 
 
35

Vermont
 
1

 
224,514

 
99.1
%
 
99.1
%
 
1,914

 
8.60

 
0.2
%
 
0.3
%
 
0.2
%
 
 
36

Virginia
 
11

 
1,446,485

 
95.4
%
 
95.0
%
 
13,965

 
11.35

 
2.1
%
 
1.7
%
 
1.6
%
 
 
37

West Virginia
 
2

 
251,500

 
95.6
%
 
95.2
%
 
1,967

 
8.18

 
0.4
%
 
0.3
%
 
0.2
%
 
 
38

Wisconsin
 
5

 
765,084

 
91.3
%
 
90.2
%
 
7,175

 
10.28

 
1.0
%
 
0.9
%
 
0.8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL
 
522

 
86,718,016

 
92.3
%
 
90.5
%
 
$
898,962

 
$
12.01

 
100.0
%
 
100.0
%
 
100.0
%
 


Page 43




Brixmor Property Group
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property List (Dollars in thousands except per square foot amounts)
 
   

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent

 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased

 
 ABR
 
 ABR / SF
 
Grocer (1)
 
Other Major Tenants
 
Non-Owned Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1

 
Winchester Plaza
 
Huntsville
 
AL
 
Huntsville, AL
 
2006
 
75,780

 
96.5
%
 
$
886

 
$
12.12

 
Publix
 
 
 
2

 
Springdale
 
Mobile
 
AL
 
Mobile, AL
 
2004
 
611,972

 
90.2
%
 
3,984

 
7.33

 
Sam's Club*
 
Belk, Best Buy, Big Lots, Burlington Coat Factory, Marshalls, Michaels, Staples
 
 
3

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

 
99.0
%
 
1,521

 
6.63

 
Walmart Supercenter
 
Burke's Outlet
 
 
4

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

 
92.6
%
 
820

 
12.60

 
Publix
 
 
 
5

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

 
79.6
%
 
604

 
6.34

 
 
Sears Outlet
 
 
6

 
Northmall Centre
 
Tucson
 
AZ
 
Tucson, AZ
 
1996
 
168,585

 
86.0
%
 
1,345

 
9.28

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

 
Applegate Ranch Shopping Center
Atwater
 
CA
 
Merced, CA
 
2006
 
144,444

 
86.4
%
 
1,947

 
15.59

 
SuperTarget*
 
Marshalls
 
Walmart
8

 
Bakersfield Plaza
 
Bakersfield
 
CA
 
Bakersfield, CA
 
2014
 
240,328

 
99.9
%
 
3,180

 
13.48

 
Lassens Natural Foods & Vitamins
 
Burlington Coat Factory, Ross Dress for Less
 
 
9

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

 
94.4
%
 
1,893

 
16.41

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

 
Plaza Rio Vista
 
Cathedral
 
CA
 
Riverside-San Bernardino-Ontario, CA
 
2005
 
67,622

 
88.2
%
 
1,037

 
17.39

 
Stater Bros.
 
 
 
11

 
Clovis Commons
 
Clovis
 
CA
 
Fresno, CA
 
2004
 
174,990

 
95.9
%
 
3,586

 
21.37

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

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

 
100.0
%
 
1,388

 
9.39

 
 
Big Lots, Kmart
 
 
13

 
University Mall
 
Davis
 
CA
 
Sacramento--Roseville--Arden-Arcade, CA
2011
 
103,695

 
95.2
%
 
1,906

 
19.31

 
Trader Joe's
 
Forever 21, World Market
 
 
14

 
Felicita Plaza
 
Escondido
 
CA
 
San Diego-Carlsbad, CA
 
2001
 
98,714

 
100.0
%
 
1,362

 
13.80

 
Vons (Safeway)
 
Chuze Fitness
 
 
15

 
Arbor - Broadway Faire
 
Fresno
 
CA
 
Fresno, CA
 
1995
 
252,634

 
94.7
%
 
3,374

 
14.11

 
Smart & Final
 
PetSmart, The Home Depot, United Artists Theatres
 
 
16

 
Lompoc Shopping Center
 
Lompoc
 
CA
 
Santa Maria-Santa Barbara, CA
 
2012
 
179,495

 
96.4
%
 
1,902

 
11.89

 
Vons (Safeway)
 
Marshalls, Michaels, Staples
 
 
17

 
Briggsmore Plaza
 
Modesto
 
CA
 
Modesto, CA
 
1998
 
99,315

 
100.0
%
 
986

 
10.46

 
Grocery Outlet
 
Dunhill Furniture, Sears Outlet
 
 
18

 
Montebello Plaza
 
Montebello
 
CA
 
Los Angeles-Long Beach-Anaheim, CA
 
2012
 
283,631

 
96.8
%
 
4,247

 
15.77

 
Albertsons
 
99¢ Only, Best Buy, CVS, Ross Dress for Less
 
 
19

 
California Oaks Center
 
Murrieta
 
CA
 
Riverside-San Bernardino-Ontario, CA
 
1990
 
125,187

 
90.4
%
 
1,574

 
14.38

 
 
 
 
20

 
Esplanade Shopping Center
 
Oxnard
 
CA
 
Oxnard-Thousand Oaks-Ventura, CA
 
2012
 
356,864

 
99.7
%
 
6,767

 
19.18

 
Walmart Neighborhood Market
 
Bed Bath & Beyond, Dick's Sporting Goods, LA Fitness, Nordstrom Rack, T.J.Maxx
 
The Home Depot
21

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

 
100.0
%
 
2,038

 
10.05

 
Food 4 Less
 
Ross Dress for Less, Target
 
 
22

 
Paradise Plaza
 
Paradise
 
CA
 
Chico, CA
 
1997
 
198,323

 
94.9
%
 
808

 
5.34

 
Save Mart
 
Kmart, Rite Aid
 
 
23

 
Metro 580
 
Pleasanton
 
CA
 
San Francisco-Oakland-Hayward, CA
 
2004
 
176,510

 
87.2
%
 
2,091

 
35.75

 
 
Kohl's, Sport Chalet
 
Walmart
24

 
Rose Pavilion
 
Pleasanton
 
CA
 
San Francisco-Oakland-Hayward, CA
 
2005
 
299,859

 
97.2
%
 
6,343

 
22.89

 
99 Ranch Market
 
Golfsmith, Macy's Home Store
 
 
25

 
Puente Hills Town Center
 
Rowland Heights
 
CA
 
Los Angeles-Long Beach-Anaheim, CA
 
1984
 
259,162

 
99.5
%
 
4,986

 
19.33

 
 
Marshalls, Michaels
 
 
26

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

 
100.0
%
 
1,040

 
7.27

 
 
Big Lots, Target
 
 
27

 
Ocean View Plaza
 
San Clemente
 
CA
 
Los Angeles-Long Beach-Anaheim, CA
 
1997
 
169,387

 
99.3
%
 
4,400

 
26.17

 
Ralphs (Kroger), Trader Joe's
 
CVS, Fitness Elite for Women
 
 
28

 
Mira Mesa Mall
 
San Diego
 
CA
 
San Diego-Carlsbad, CA
 
2003
 
407,100

 
98.6
%
 
7,522

 
19.58

 
Vons (Safeway)
 
Bed Bath & Beyond, Kohl's, Marshalls, Mira Mesa Lanes
 
 
29

 
San Dimas Plaza
 
San Dimas
 
CA
 
Los Angeles-Long Beach-Anaheim, CA
 
2013
 
164,757

 
91.9
%
 
3,229

 
21.32

 
Smart & Final Extra!
 
T.J.Maxx
 
Rite Aid
30

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

 
100.0
%
 
2,754

 
33.23

 
Trader Joe's
 
Big Lots, Petco, Rite Aid
 
 
31

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

 
100.0
%
 
3,450

 
11.93

 
El Super, Walmart Supercenter
 
LA Fitness
 
Target
32

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

 
98.7
%
 
1,858

 
9.83

 
Vons (Safeway)
 
Big Lots, Heritage Hardware
 
 
33

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

 
91.8
%
 
2,546

 
13.74

 
Stater Bros.
 
Stein Mart
 
 
34

 
Country Hills Shopping Center
 
Torrance
 
CA
 
Los Angeles-Long Beach-Anaheim, CA
 
1977
 
56,750

 
100.0
%
 
932

 
17.51

 
Ralphs (Kroger)
 
 
 
35

 
Gateway Plaza - Vallejo
 
Vallejo
 
CA
 
Vallejo-Fairfield, CA
 
1991
 
490,407

 
97.5
%
 
7,551

 
15.86

 
Costco*
 
Bed Bath & Beyond, Century Theatres, Marshalls, Ross Dress for Less, Toys"R"Us
 
Target
36

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

 
100.0
%
 
678

 
7.11

 
King Soopers (Kroger)
 
Arc
 
 
37

 
Arapahoe Crossings
 
Aurora
 
CO
 
Denver-Aurora-Lakewood, CO
 
2003
 
466,363

 
96.3
%
 
5,703

 
12.71

 
King Soopers (Kroger)
 
2nd & Charles, AMC Theatres, Big Lots, Gordmans, Kohl's, Marshalls
 
 
38

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

 
96.4
%
 
1,230

 
7.41

 
King Soopers (Kroger)
 
Cinema Latino
 
 

Page 44




39

 
Villa Monaco
 
Denver
 
CO
 
Denver-Aurora-Lakewood, CO
 
2013
 
122,139

 
84.2
%
 
1,208

 
11.74

 
Walmart Neighborhood Market
 
 
 
40

 
Superior Marketplace
 
Superior
 
CO
 
Boulder, CO
 
2004
 
278,790

 
82.8
%
 
3,555

 
15.40

 
Whole Foods Market, Costco*, SuperTarget*
 
Sports Authority, T.J.Maxx
 
 
41

 
Westminster City Center
 
Westminster
 
CO
 
Denver-Aurora-Lakewood, CO
 
2014
 
337,540

 
94.6
%
 
4,710

 
14.75

 
 
Babies"R"Us, Barnes & Noble, Gordmans, Ross Dress for Less
 
 
42

 
Freshwater - Stateline Plaza
 
Enfield
 
CT
 
Hartford-West Hartford-East Hartford, CT
2004
 
295,647

 
98.6
%
 
2,471

 
15.96

 
Costco
 
Dick's Sporting Goods, P.C. Richard & Son
 
The Home Depot
43

 
The Shoppes at Fox Run
 
Glastonbury
 
CT
 
Hartford-West Hartford-East Hartford, CT
2012
 
108,627

 
95.3
%
 
2,417

 
23.36

 
Whole Foods Market
 
Petco
 
 
44

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

 
97.8
%
 
2,541

 
13.21

 
Super Stop & Shop (Ahold)
 
Kohl's
 
 
45

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

 
100.0
%
 
999

 
13.81

 
PriceRite (ShopRite)
 
 
 
46

 
Killingly Plaza
 
Killingly
 
CT
 
Worcester, MA-CT
 
1990
 
75,304

 
93.7
%
 
480

 
6.80

 
 
Kohl's
 
 
47

 
The Manchester Collection
 
Manchester
 
CT
 
Hartford-West Hartford-East Hartford, CT
2014
 
342,247

 
92.7
%
 
4,430

 
13.96

 
Sam's Club*
 
Ashley Furniture, Babies"R"Us, Bed Bath & Beyond, Savers, Sports Authority
 
Walmart
48

 
Chamberlain Plaza
 
Meriden
 
CT
 
New Haven-Milford, CT
 
2004
 
55,264

 
89.0
%
 
437

 
8.88

 
 
Dollar Tree, Savers
 
 
49

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

 
100.0
%
 
341

 
13.60

 
Xpect Discounts
 
 
 
50

 
Turnpike Plaza
 
Newington
 
CT
 
Hartford-West Hartford-East Hartford, CT
2004
 
150,741

 
100.0
%
 
2,385

 
15.82

 
Price Chopper
 
Dick's Sporting Goods
 
 
51

 
North Haven Crossing
 
North Haven
 
CT
 
New Haven-Milford, CT
 
1993
 
104,017

 
74.6
%
 
1,328

 
17.11

 
 
Barnes & Noble, Dollar Tree, DSW, PetSmart
 
 
52

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

 
82.6
%
 
1,645

 
15.00

 
 
A.C. Moore, Christmas Tree Shops
 
 
53

 
Stratford Square
 
Stratford
 
CT
 
Bridgeport-Stamford-Norwalk, CT
 
2014
 
161,539

 
88.0
%
 
1,702

 
11.97

 
 
Marshalls, Regal Cinemas
 
 
54

 
Torrington Plaza
 
Torrington
 
CT
 
Torrington, CT
 
1994
 
125,496

 
93.7
%
 
1,222

 
10.80

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

 
Waterbury Plaza
 
Waterbury
 
CT
 
New Haven-Milford, CT
 
2000
 
183,706

 
90.4
%
 
2,160

 
13.01

 
Super Stop & Shop (Ahold)
 
Pretty Woman
 
Target
56

 
Waterford Commons
 
Waterford
 
CT
 
Norwich-New London, CT
 
2004
 
236,800

 
97.7
%
 
4,262

 
18.41

 
 
Babies"R"Us, Dick’s Sporting Goods
 
Best Buy
57

 
North Dover Shopping Center
 
Dover
 
DE
 
Dover, DE
 
2013
 
191,855

 
100.0
%
 
2,043

 
10.65

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

 
Apopka Commons
 
Apopka
 
FL
 
Orlando-Kissimmee-Sanford, FL
 
2010
 
42,507

 
100.0
%
 
582

 
13.68

 
 
Staples
 
The Home Depot
59

 
Brooksville Square
 
Brooksville
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
2013
 
152,661

 
90.7
%
 
1,419

 
10.25

 
Publix
 
Sears Outlet
 
 
60

 
Coastal Way - Coastal Landing
 
Brooksville
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
2008
 
368,098

 
97.6
%
 
3,209

 
11.98

 
 
Bed Bath & Beyond, Belk, hhgregg, Marshalls, Michaels, Office Depot, Old Navy, Petco, Sears
 
 
61

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

 
98.1
%
 
957

 
12.93

 
Publix
 
 
Target
62

 
Clearwater Mall
 
Clearwater
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
2012
 
300,929

 
97.9
%
 
6,014

 
21.52

 
Costco*, SuperTarget*
 
hhgregg, Michaels, PetSmart, Ross Dress for Less
 
Lowe's
63

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

 
81.0
%
 
2,669

 
12.41

 
Publix
 
Bealls Outlet, Big Lots, Off the Wall Trampoline, Planet Fitness
 
 
64

 
Century Plaza Shopping Center
 
Deerfield Beach
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
2006
 
90,233

 
72.3
%
 
1,316

 
20.16

 
 
Broward County Library
 
 
65

 
Northgate S.C.
 
DeLand
 
FL
 
Deltona-Daytona Beach-Ormond Beach, FL
1993
 
186,396

 
97.6
%
 
1,276

 
7.01

 
Publix
 
 
 
66

 
Eustis Village
 
Eustis
 
FL
 
Orlando-Kissimmee-Sanford, FL
 
2002
 
156,927

 
94.0
%
 
1,632

 
11.07

 
Publix
 
Beall's
 
 
67

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

 
91.2
%
 
763

 
15.24

 
Publix
 
 
 
68

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

 
96.5
%
 
1,528

 
10.02

 
Publix
 
Beall's, Books-A-Million, Office Depot, T.J.Maxx
 
 
69

 
Normandy Square
 
Jacksonville
 
FL
 
Jacksonville, FL
 
1996
 
87,240

 
100.0
%
 
735

 
8.43

 
Winn-Dixie (BI-LO)
 
CVS, Family Dollar
 
 
70

 
Regency Park
 
Jacksonville
 
FL
 
Jacksonville, FL
 
2006
 
334,065

 
69.4
%
 
1,992

 
8.60

 
 
American Signature Furniture, Bealls Outlet, Books-A-Million, Hobby Lobby
 
 
71

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

 
100.0
%
 
2,305

 
21.13

 
 
Best Buy, David's Bridal, Sports Authority
 
 
72

 
Ventura Downs
 
Kissimmee
 
FL
 
Orlando-Kissimmee-Sanford, FL
 
2005
 
98,191

 
98.9
%
 
1,219

 
12.54

 
Publix Sabor
 
 
 
73

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

 
93.5
%
 
1,963

 
15.72

 
 
Walgreens
 
 
74

 
Venetian Isle Shopping Ctr
 
Lighthouse Point
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
1992
 
180,489

 
96.0
%
 
1,788

 
10.63

 
Publix
 
Petco, Staples, Tuesday Morning, T.J.Maxx
 
 
75

 
Marco Town Center
 
Marco Island
 
FL
 
Naples-Immokalee-Marco Island, FL
 
2001
 
109,830

 
89.0
%
 
1,921

 
19.66

 
Publix
 
 
 
76

 
Mall at 163rd Street
 
Miami
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
2007
 
370,132

 
64.5
%
 
3,808

 
20.13

 
Walmart Supercenter*
 
Marshalls, Office Depot, Ross Dress for Less
 
 
77

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

 
100.0
%
 
2,478

 
10.13

 
Winn-Dixie (BI-LO)
 
Ross Dress for Less
 
 
78

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

 
97.6
%
 
1,799

 
8.70

 
Publix
 
 
 
79

 
Naples Plaza
 
Naples
 
FL
 
Naples-Immokalee-Marco Island, FL
 
2013
 
200,820

 
100.0
%
 
3,353

 
16.99

 
Publix
 
Marshalls, Office Depot, PGA TOUR Superstore
 
 
80

 
Park Shore Shopping Center
 
Naples
 
FL
 
Naples-Immokalee-Marco Island, FL
 
2013
 
232,820

 
98.0
%
 
1,950

 
8.55

 
The Fresh Market
 
Big Lots, HomeGoods, Kmart, YouFit Health Club
 
 
81

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

 
97.0
%
 
887

 
11.26

 
Publix
 
Zone Fitness Club
 
 
82

 
Southgate
 
New Port Richey
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
2012
 
238,838

 
91.2
%
 
1,994

 
9.61

 
Publix
 
Bealls Outlet, Big Lots, Old Time Pottery
 
 
83

 
Presidential Plaza
 
North Lauderdale
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
2006
 
88,306

 
86.6
%
 
733

 
9.58

 
Sedano's
 
Family Dollar
 
 

Page 45




84

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

 
50.4
%
 
377

 
29.22

 
 
Miller's Orange Park Ale House, Ruby Tuesday, Samurai Japanese Steakhouse
 
 
85

 
Colonial Marketplace
 
Orlando
 
FL
 
Orlando-Kissimmee-Sanford, FL
 
2014
 
141,069

 
100.0
%
 
2,072

 
14.69

 
 
LA Fitness, OfficeMax
 
Target
86

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

 
97.7
%
 
886

 
11.88

 
Publix
 
 
 
87

 
Hunters Creek
 
Orlando
 
FL
 
Orlando-Kissimmee-Sanford, FL
 
1998
 
73,204

 
98.2
%
 
1,090

 
15.16

 
 
Office Depot
 
 
88

 
Pointe Orlando
 
Orlando
 
FL
 
Orlando-Kissimmee-Sanford, FL
 
2014
 
408,002

 
81.6
%
 
6,729

 
21.58

 
 
Regal Cinemas
 
 
89

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

 
100.0
%
 
817

 
12.65

 
Publix
 
 
 
90

 
Martin Downs Village Center
 
Palm City
 
FL
 
Port St. Lucie, FL
 
1987
 
161,604

 
77.0
%
 
2,160

 
17.37

 
 
Goodwill, Martin Memorial, Walgreens
 
 
91

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

 
91.2
%
 
1,042

 
11.56

 
Publix
 
 
 
92

 
Panama City Square
 
Panama City
 
FL
 
Panama City, FL
 
2013
 
298,685

 
100.0
%
 
2,215

 
7.42

 
Walmart Supercenter
 
Big Lots, Michaels, Sports Authority, T.J.Maxx
 
 
93

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

 
89.5
%
 
1,100

 
9.16

 
 
Beall's, Big Lots, Sears Home Appliance Showroom
 
Hobby Lobby
94

 
Shopper's Haven Shopping Ctr
 
Pompano Beach
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
1998
 
206,791

 
96.9
%
 
2,576

 
13.26

 
Winn-Dixie (BI-LO)
 
A.C. Moore, Bealls Outlet, Bed Bath & Beyond, Party City, YouFit Health Club
 
 
95

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

 
82.4
%
 
1,786

 
13.32

 
Publix
 
Medvance, Walgreens
 
 
96

 
Shoppes of Victoria Square
 
Port St. Lucie
 
FL
 
Port St. Lucie, FL
 
1990
 
95,243

 
86.2
%
 
955

 
11.63

 
Winn-Dixie (BI-LO)
 
Dollar Tree
 
 
97

 
Lake St. Charles
 
Riverview
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
1999
 
57,015

 
95.4
%
 
553

 
10.18

 
Winn-Dixie (BI-LO)
 
 
 
98

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

 
81.3
%
 
603

 
18.81

 
SuperTarget*
 
Blue Fish Restaurant, The Zoo Health Club
 
 
99

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

 
86.3
%
 
1,440

 
11.79

 
Publix
 
Harbor Freight Tools, Walgreens, YouFit Health Club
 
 
100

 
Sarasota Village
 
Sarasota
 
FL
 
North Port-Sarasota-Bradenton, FL
 
2011
 
173,184

 
100.0
%
 
1,921

 
11.38

 
Publix
 
Big Lots, Crunch Fitness, HomeGoods
 
 
101

 
Atlantic Plaza
 
Satellite Beach
 
FL
 
Palm Bay-Melbourne-Titusville, FL
 
2008
 
128,405

 
74.1
%
 
1,196

 
24.13

 
Publix
 
 
 
102

 
Seminole Plaza
 
Seminole
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
1995
 
146,579

 
96.9
%
 
954

 
6.72

 
 
Burlington Coat Factory, T.J.Maxx
 
 
103

 
Cobblestone Village
 
St. Augustine
 
FL
 
Jacksonville, FL
 
2003
 
261,081

 
85.9
%
 
2,851

 
12.71

 
Publix
 
Beall's, Bed Bath & Beyond, Michaels, Petco
 
 
104

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

 
81.3
%
 
1,510

 
13.63

 
Publix
 
CVS, Dollar Tree
 
 
105

 
Bay Point Plaza
 
St. Petersburg
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
2002
 
103,986

 
85.1
%
 
925

 
10.45

 
Publix
 
Beall's
 
 
106

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

 
97.2
%
 
1,264

 
8.70

 
Winn-Dixie (BI-LO)
 
Beall’s, Big Lots
 
 
107

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

 
94.1
%
 
901

 
8.64

 
 
Dollar Tree
 
 
108

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

 
83.4
%
 
1,503

 
8.61

 
Winn-Dixie (BI-LO)
 
Beall's, Big Lots, Chuck E. Cheese’s
 
 
109

 
Downtown Publix
 
Stuart
 
FL
 
Port St. Lucie, FL
 
2000
 
153,246

 
71.9
%
 
1,149

 
10.42

 
Publix
 
Schumacher Music
 
 
110

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

 
90.0
%
 
1,212

 
12.22

 
Patel Brothers
 
Dollar Tree, LA Fitness
 
Walmart
111

 
Carrollwood Center
 
Tampa
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
2002
 
93,673

 
98.2
%
 
1,338

 
14.55

 
Publix
 
Rarehues
 
 
112

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

 
93.0
%
 
1,090

 
12.95

 
 
Deal$, Ross Dress for Less
 
 
113

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

 
99.4
%
 
2,092

 
14.43

 
Publix
 
Petco, T.J.Maxx
 
 
114

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

 
94.8
%
 
771

 
6.14

 
Winn-Dixie (BI-LO)
 
T.J.Maxx
 
 
115

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

 
76.2
%
 
428

 
5.12

 
Publix
 
Beall's
 
 
116

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

 
98.0
%
 
1,125

 
16.72

 
Publix
 
 
 
117

 
Albany Plaza
 
Albany
 
GA
 
Albany, GA
 
1995
 
114,169

 
75.1
%
 
541

 
6.31

 
Harveys (BI-LO)
 
Big Lots, OK Beauty & Fashions Outlet
 
 
118

 
Mansell Crossing
 
Alpharetta
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
2005
 
332,364

 
91.8
%
 
4,528

 
14.84

 
 
AMC Theatres, Barnes & Noble, DSW, Macy's Furniture Gallery, Sports Authority, T.J.Maxx
 
Toys"R"Us
119

 
Perlis Plaza
 
Americus
 
GA
 
Americus, GA
 
1972
 
165,315

 
84.6
%
 
758

 
5.42

 
 
Belk, Roses
 
 
120

 
Northeast Plaza
 
Atlanta
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
2013
 
442,200

 
90.1
%
 
3,748

 
9.53

 
G-Mart International Foods
 
Atlanta Ballroom Dance Club, dd's Discounts, Goodwill
 
 
121

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

 
71.2
%
 
1,078

 
7.29

 
 
Burlington Coat Factory, Dollar Tree
 
 

Page 46




122

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

 
100.0
%
 
477

 
7.20

 
Food Depot
 
Family Dollar
 
 
123

 
Vineyards at Chateau Elan
 
Braselton
 
GA
 
 
2002
 
79,047

 
79.0
%
 
846

 
13.56

 
Publix
 
 
 
124

 
Cedar Plaza
 
Cedartown
 
GA
 
Cedartown, GA
 
1994
 
83,300

 
100.0
%
 
594

 
7.14

 
Kroger
 
Gold's Gym
 
 
125

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

 
94.9
%
 
1,800

 
11.07

 
Walmart Supercenter*
 
Jo-Ann Fabric & Craft Stores, PetSmart, Value Village
 
The Home Depot
126

 
Cordele Square
 
Cordele
 
GA
 
Cordele, GA
 
2002
 
127,953

 
82.6
%
 
653

 
6.18

 
Harveys (BI-LO)
 
Belk, Citi Trends, Cordele Theatres
 
 
127

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

 
93.6
%
 
1,121

 
6.85

 
Ingles
 
Kmart
 
 
128

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

 
85.1
%
 
622

 
10.85

 
Publix
 
 
 
129

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

 
89.3
%
 
1,085

 
12.80

 
Kroger
 
Anytime Fitness
 
 
130

 
Northside
 
Dalton
 
GA
 
Dalton, GA
 
2001
 
73,931

 
86.3
%
 
490

 
7.67

 
BI-LO
 
Family Dollar
 
 
131

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

 
91.4
%
 
755

 
10.62

 
Publix
 
 
 
132

 
Park Plaza
 
Douglasville
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1986
 
46,494

 
78.1
%
 
527

 
14.49

 
Kroger*
 
 
 
133

 
Dublin Village
 
Dublin
 
GA
 
Dublin, GA
 
2005
 
98,540

 
88.7
%
 
603

 
6.90

 
Kroger
 
 
 
134

 
Westgate
 
Dublin
 
GA
 
Dublin, GA
 
2004
 
118,938

 
87.6
%
 
576

 
5.74

 
Harveys (BI-LO)
 
Beall's, Big Lots
 
The Home Depot
135

 
Venture Pointe
 
Duluth
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
2012
 
155,172

 
97.1
%
 
1,627

 
10.80

 
 
American Signature Furniture, Ollie's Bargain Outlet, Studio Movie Grill
 
 
136

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

 
82.1
%
 
1,116

 
8.96

 
Food Depot
 
Cinemark, Staples
 
 
137

 
Barrett Place
 
Kennesaw
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1994
 
218,818

 
100.0
%
 
2,133

 
9.75

 
 
Best Buy, Michaels, OfficeMax, PetSmart, Sports Authority, The Furniture Mall
 
 
138

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

 
97.9
%
 
1,223

 
12.87

 
Publix
 
 
 
139

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

 
79.9
%
 
999

 
11.81

 
Publix
 
 
 
140

 
The Village at Mableton
 
Mableton
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1998
 
239,013

 
64.0
%
 
924

 
6.31

 
 
Dollar Tree, Kmart
 
 
141

 
North Park
 
Macon
 
GA
 
Macon, GA
 
2013
 
216,795

 
95.2
%
 
1,206

 
5.85

 
Kroger
 
Kmart
 
 
142

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

 
94.2
%
 
449

 
8.68

 
 
Marshalls
 
 
143

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

 
80.2
%
 
906

 
9.98

 
Kroger
 
 
 
144

 
Pavilions at Eastlake
 
Marietta
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
1996
 
157,888

 
87.4
%
 
1,608

 
11.65

 
Kroger
 
J. Christopher's
 
 
145

 
Perry Marketplace
 
Perry
 
GA
 
Warner Robins, GA
 
2004
 
179,973

 
75.8
%
 
911

 
6.68

 
Kroger
 
Ace Hardware, Beall's Outlet, Goody's
 
 
146

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

 
92.1
%
 
518

 
8.05

 
Food Depot
 
 
 
147

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

 
100.0
%
 
274

 
16.29

 
Walmart Supercenter*
 
 
 
148

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

 
91.7
%
 
899

 
9.30

 
 
PGA TOUR Superstore
 
 
149

 
Victory Square
 
Savannah
 
GA
 
Savannah, GA
 
2007
 
122,739

 
97.6
%
 
1,708

 
14.60

 
SuperTarget*
 
Citi Trends, Dollar Tree, Frank Theatres, Staples
 
The Home Depot
150

 
Stockbridge Village
 
Stockbridge
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
2008
 
188,155

 
80.8
%
 
2,108

 
13.86

 
Kroger
 
 
 
151

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

 
89.9
%
 
1,781

 
5.71

 
Walmart Supercenter
 
Hobby Lobby
 
 
152

 
Wilmington Island
 
Wilmington Island
 
GA
 
Savannah, GA
 
2003
 
87,818

 
70.9
%
 
761

 
12.21

 
Kroger
 
 
 
153

 
Davenport Retail Center
 
Davenport
 
IA
 
Davenport-Moline-Rock Island, IA-IL
 
1996
 
62,588

 
100.0
%
 
720

 
11.50

 
SuperTarget*
 
Party City, PetSmart, Staples
 
 
154

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

 
86.0
%
 
581

 
5.95

 
Hy-Vee
 
 
 
155

 
Haymarket Mall
 
Des Moines
 
IA
 
Des Moines-West Des Moines, IA
 
2002
 
241,572

 
96.8
%
 
1,233

 
5.56

 
 
Burlington Coat Factory, Hobby Lobby
 
 

Page 47




156

 
Haymarket Square
 
Des Moines
 
IA
 
Des Moines-West Des Moines, IA
 
2002
 
269,705

 
72.3
%
 
1,232

 
9.29

 
Dahl's Foods
 
Big Lots, Northern Tool + Equipment, Office Depot
 
 
157

 
Warren Plaza
 
Dubuque
 
IA
 
Dubuque, IA
 
1993
 
96,339

 
96.7
%
 
746

 
8.01

 
Hy-Vee
 
 
Target
158

 
Annex of Arlington
 
Arlington Heights
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2012
 
193,175

 
93.0
%
 
2,787

 
15.51

 
Trader Joe's
 
Barnes & Noble, Binny's Beverage Depot, hhgregg, Petco
 
 
159

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

 
91.5
%
 
1,956

 
14.10

 
 
Savers, XSport Fitness
 
Kohl's
160

 
Bartonville Square
 
Bartonville
 
IL
 
Peoria, IL
 
2001
 
61,678

 
95.7
%
 
311

 
5.90

 
Kroger
 
 
 
161

 
Festival Center
 
Bradley
 
IL
 
Kankakee, IL
 
2006
 
63,796

 
76.7
%
 
286

 
5.85

 
 
Big Lots, Dollar General
 
 
162

 
Southfield Plaza
 
Bridgeview
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2006
 
198,331

 
96.9
%
 
2,070

 
10.77

 
Shop 'n Save
 
Hobby Lobby, Walgreen's
 
 
163

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

 
99.1
%
 
4,016

 
13.40

 
 
Marshalls, Office Depot, The Home Depot, XSport Fitness
 
 
164

 
Rivercrest Shopping Center
 
Crestwood
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2013
 
488,680

 
91.6
%
 
5,202

 
12.92

 
Ultra Foods
 
Best Buy, Party City, PetSmart, Ross Dress for Less, T.J.Maxx
 
 
165

 
The Commons of Crystal Lake
 
Crystal Lake
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2013
 
273,060

 
88.6
%
 
2,585

 
10.68

 
Jewel-Osco (Albertsons)
 
Toys"R"Us
 
Hobby Lobby
166

 
Elk Grove Town Center
 
Elk Grove Village
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1998
 
131,849

 
99.2
%
 
2,023

 
15.47

 
Joe Caputo & Sons Fruit Market
 
Walgreens
 
 
167

 
Crossroads Centre
 
Fairview Heights
 
IL
 
St. Louis, MO-IL
 
1975
 
242,198

 
86.7
%
 
1,923

 
11.14

 
 
Big Lots, Hobby Lobby, T.J.Maxx
 
 
168

 
Frankfort Crossing Shopping Center
Frankfort
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1992
 
114,534

 
96.8
%
 
1,450

 
13.08

 
Jewel-Osco (Albertsons)
 
Ace Hardware
 
 
169

 
Freeport Plaza
 
Freeport
 
IL
 
Freeport, IL
 
2000
 
87,846

 
100.0
%
 
566

 
6.44

 
Cub Foods (Supervalu)
 
Stone's Hallmark
 
 
170

 
Westview Center
 
Hanover Park
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1989
 
326,372

 
88.5
%
 
2,538

 
9.10

 
Tony's Finer Foods
 
Big Lots, LA Fitness
 
Value City
171

 
The Quentin Collection
 
Kildeer
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2006
 
166,742

 
98.8
%
 
2,698

 
16.38

 
The Fresh Market
 
Best Buy, DSW, PetSmart, Stein Mart
 
 
172

 
Butterfield Square
 
Libertyville
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2013
 
106,755

 
92.7
%
 
1,470

 
14.85

 
Sunset Foods
 
 
 
173

 
High Point Centre
 
Lombard
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1992
 
240,046

 
87.2
%
 
2,126

 
10.16

 
Ultra Foods
 
Babies"R"Us, Jo-Ann Fabrics, Office Depot
 
 
174

 
Long Meadow Commons
 
Mundelein
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1997
 
118,470

 
87.1
%
 
1,530

 
16.13

 
 
 
 
175

 
Westridge Court
 
Naperville
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2013
 
673,082

 
95.9
%
 
7,090

 
10.99

 
 
Big Lots, buybuy BABY, Carson Pirie Scott Furniture Gallery, Gordmans, hhgregg, Hollywood Palms Cinema, Marshalls, Old Navy, Savers, Ulta
 
 
176

 
Sterling Bazaar
 
Peoria
 
IL
 
Peoria, IL
 
1992
 
84,438

 
97.2
%
 
800

 
9.97

 
Kroger
 
 
 
177

 
Rollins Crossing
 
Round Lake Beach
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1998
 
192,911

 
94.1
%
 
1,796

 
16.49

 
 
LA Fitness, Regal Cinemas
 
 
178

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

 
96.4
%
 
709

 
6.43

 
Hy-Vee
 
Eye Surgeons Associates
 
 
179

 
Parkway Pointe
 
Springfield
 
IL
 
Springfield, IL
 
1994
 
38,737

 
85.9
%
 
572

 
17.18

 
ALDI*
 
dressbarn, Family Christian Stores, Shoe Carnival
 
Target, Walmart
180

 
Sangamon Center North
 
Springfield
 
IL
 
Springfield, IL
 
1996
 
139,907

 
94.9
%
 
1,235

 
9.30

 
Schnucks
 
U.S. Post Office
 
 
181

 
Tinley Park Plaza
 
Tinley Park
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2005
 
249,954

 
91.5
%
 
2,461

 
10.76

 
Walt's Fine Foods
 
Tile Shop
 
 
182

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

 
91.3
%
 
1,015

 
8.50

 
 
Godby Home Furnishings, Ollie's Bargain Outlet
 
 
183

 
Columbus Center
 
Columbus
 
IN
 
Columbus, IN
 
2005
 
143,703

 
99.5
%
 
1,478

 
10.33

 
 
Big Lots, MC Sports, OfficeMax, T.J.Maxx
 
Target
184

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

 
93.2
%
 
590

 
7.75

 
Martin's Super Market
 
CVS
 
 
185

 
Apple Glen Crossing
 
Fort Wayne
 
IN
 
Fort Wayne, IN
 
2002
 
150,156

 
95.8
%
 
1,877

 
16.44

 
Walmart Supercenter*
 
Best Buy, Dick's Sporting Goods, PetSmart
 
Kohl's
186

 
Elkhart Market Centre
 
Goshen
 
IN
 
Elkhart-Goshen, IN
 
1994
 
363,883

 
97.3
%
 
2,195

 
6.20

 
Sam's Club
 
Walmart
 
 
187

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

 
82.1
%
 
681

 
7.75

 
Kroger
 
Rainbow
 
 
188

 
Westlane Shopping Center
 
Indianapolis
 
IN
 
Indianapolis-Carmel-Anderson, IN
 
1982
 
71,490

 
97.5
%
 
482

 
6.91

 
Marsh Supermarket
 
Family Dollar
 
 
189

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

 
91.0
%
 
358

 
13.14

 
Walmart Supercenter*
 
Aaron's
 
 

Page 48




190

 
Bittersweet Plaza
 
Mishawaka
 
IN
 
South Bend-Mishawaka, IN-MI
 
2000
 
91,798

 
89.2
%
 
682

 
8.32

 
Martin's Super Market
 
 
 
191

 
Lincoln Plaza
 
New Haven
 
IN
 
Fort Wayne, IN
 
1968
 
103,938

 
59.9
%
 
517

 
8.31

 
Kroger
 
 
 
192

 
Speedway Super Center
 
Speedway
 
IN
 
Indianapolis-Carmel-Anderson, IN
 
2010
 
577,360

 
82.9
%
 
4,055

 
8.89

 
Kroger
 
Kohl's, Sears Outlet, T.J.Maxx
 
 
193

 
Sagamore Park Centre
 
West Lafayette
 
IN
 
Lafayette-West Lafayette, IN
 
2003
 
118,436

 
88.7
%
 
1,015

 
9.66

 
Pay Less (Kroger)
 
 
 
194

 
Westchester Square
 
Lenexa
 
KS
 
Kansas City, MO-KS
 
1987
 
164,838

 
80.1
%
 
1,098

 
8.32

 
Hy-Vee
 
 
 
195

 
West Loop Shopping Center
 
Manhattan
 
KS
 
Manhattan, KS
 
2013
 
211,454

 
97.7
%
 
1,764

 
13.62

 
Dillons (Kroger)
 
Bellus Academy, Jo-Ann Fabric & Craft Stores, Marshalls
 
 
196

 
Green River Plaza
 
Campbellsville
 
KY
 
Campbellsville, KY
 
1989
 
203,239

 
99.0
%
 
1,336

 
6.64

 
Kroger
 
Burke's Outlet, Goody’s, JC Penney, Jo-Ann Fabric & Craft Stores, Tractor Supply Co.
 
 
197

 
Kmart Plaza
 
Elizabethtown
 
KY
 
Elizabethtown-Fort Knox, KY
 
1992
 
130,466

 
100.0
%
 
856

 
6.56

 
 
Kmart, Staples
 
 
198

 
Florence Plaza - Florence Square
Florence
 
KY
 
Cincinnati, OH-KY-IN
 
2014
 
624,090

 
97.1
%
 
5,795

 
12.58

 
Kroger
 
Barnes & Noble, Harbor Freight Tools, Hobby Lobby, Old Navy, Ollie's Bargain Outlet, Staples, T.J.Maxx
 
 
199

 
Highland Commons
 
Glasgow
 
KY
 
Glasgow, KY
 
1992
 
130,466

 
98.9
%
 
747

 
5.79

 
Food Lion
 
Kmart
 
 
200

 
Jeffersontown Commons
 
Jeffersontown
 
KY
 
Louisville/Jefferson County, KY-IN
 
2005
 
208,374

 
82.0
%
 
1,461

 
9.09

 
 
King Pin Lanes, Louisville Athletic Club
 
 
201

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

 
90.7
%
 
1,381

 
7.01

 
 
Gabriel Brothers, Walmart
 
 
202

 
London Marketplace
 
London
 
KY
 
London, KY
 
1994
 
169,032

 
100.0
%
 
1,092

 
6.46

 
Kroger
 
Burke's Outlet, Kmart
 
 
203

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

 
96.5
%
 
1,628

 
9.64

 
Kroger
 
 
 
204

 
Plainview Village
 
Louisville
 
KY
 
Louisville/Jefferson County, KY-IN
 
1997
 
164,367

 
91.4
%
 
1,377

 
9.70

 
Kroger
 
 
 
205

 
Stony Brook I & II
 
Louisville
 
KY
 
Louisville/Jefferson County, KY-IN
 
1988
 
136,919

 
91.0
%
 
1,611

 
12.92

 
Kroger
 
 
 
206

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

 
100.0
%
 
1,153

 
7.06

 
 
Books-A-Million, Hobby Lobby, Office Depot
 
 
207

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

 
100.0
%
 
1,435

 
7.26

 
Kroger
 
Kmart
 
 
208

 
Karam Shopping Center
 
Lafayette
 
LA
 
Lafayette, LA
 
1998
 
100,238

 
83.8
%
 
236

 
2.81

 
Super 1 Foods
 
Conn's
 
 
209

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

 
97.5
%
 
744

 
5.79

 
Super 1 Foods
 
 
 
210

 
Lagniappe Village
 
New Iberia
 
LA
 
Lafayette, LA
 
2010
 
201,360

 
96.9
%
 
1,473

 
7.55

 
 
Big Lots, Citi Trends, Stage, T.J.Maxx
 
 
211

 
The Pines
 
Pineville
 
LA
 
Alexandria, LA
 
1991
 
179,039

 
97.8
%
 
1,076

 
6.15

 
Super 1 Foods
 
Kmart
 
 
212

 
Points West
 
Brockton
 
MA
 
Boston-Cambridge-Newton, MA-NH
 
2007
 
133,432

 
87.6
%
 
1,000

 
8.55

 
PriceRite (ShopRite)
 
Ocean State Job Lot
 
 
213

 
Burlington Square I, II & III
 
Burlington
 
MA
 
Boston-Cambridge-Newton, MA-NH
 
1992
 
86,290

 
100.0
%
 
2,019

 
23.40

 
 
Golf Galaxy, Pyara Aveda Spa & Salon, Staples
 
 
214

 
Chicopee Marketplace
 
Chicopee
 
MA
 
Springfield, MA
 
2005
 
150,959

 
100.0
%
 
2,487

 
17.07

 
Walmart Supercenter*
 
Marshalls, Staples
 
 
215

 
Holyoke Shopping Center
 
Holyoke
 
MA
 
Springfield, MA
 
2000
 
201,875

 
94.0
%
 
1,437

 
10.94

 
Super Stop & Shop (Ahold)
 
Ocean State Job Lot
 
 
216

 
WaterTower Plaza
 
Leominster
 
MA
 
Worcester, MA-CT
 
2000
 
282,591

 
99.2
%
 
3,860

 
13.77

 
Shaw's (Albertsons)
 
Ocean State Job Lot, T.J.Maxx
 
 
217

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

 
47.1
%
 
205

 
17.05

 
Hannaford Bros. (Delhaize)*
 
 
Walmart
218

 
Lynn Marketplace
 
Lynn
 
MA
 
Boston-Cambridge-Newton, MA-NH
 
1968
 
78,092

 
100.0
%
 
882

 
11.30

 
Shaw's (Albertsons)
 
Rainbow
 
 
219

 
Berkshire Crossing
 
Pittsfield
 
MA
 
Pittsfield, MA
 
1994
 
442,578

 
99.9
%
 
3,795

 
19.50

 
Price Chopper
 
Barnes & Noble, The Home Depot, Michael's, Staples, Ulta, Walmart
 
 
220

 
Westgate Plaza
 
Westfield
 
MA
 
Springfield, MA
 
1996
 
103,903

 
98.7
%
 
1,127

 
11.32

 
 
Ocean State Job Lot, Staples, T.J.Maxx
 
 
221

 
Perkins Farm Marketplace
 
Worcester
 
MA
 
Worcester, MA-CT
 
1998
 
204,038

 
67.1
%
 
1,677

 
12.24

 
Super Stop & Shop (Ahold)
 
CW Price
 
 
222

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

 
100.0
%
 
1,662

 
18.00

 
 
Best Buy, Old Navy, Petco, Ross Dress for Less
 
 
223

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

 
79.9
%
 
533

 
26.16

 
 
 
 

Page 49




224

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

 
95.9
%
 
2,859

 
10.18

 
Giant Food (Ahold)
 
Jo-Ann Fabric & Craft Stores, Kmart, Peebles
 
 
225

 
Liberty Plaza
 
Randallstown
 
MD
 
Baltimore-Columbia-Towson, MD
 
2012
 
219,862

 
99.5
%
 
2,543

 
11.62

 
Walmart Supercenter
 
Marshalls
 
 
226

 
Rising Sun Towne Centre
 
Rising Sun
 
MD
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2013
 
141,702

 
94.9
%
 
1,658

 
12.65

 
Martin's Food (Ahold)
 
Big Lots
 
 
227

 
BJ's Plaza
 
Portland
 
ME
 
Portland-South Portland, ME
 
1991
 
104,233

 
100.0
%
 
803

 
7.70

 
BJ’s Wholesale Club
 
 
 
228

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

 
90.1
%
 
1,795

 
19.83

 
 
Big Lots, Lowe's
 
 
229

 
Maple Village
 
Ann Arbor
 
MI
 
Ann Arbor, MI
 
2000
 
293,525

 
97.3
%
 
2,469

 
8.65

 
Plum Market
 
Dunham's Sports, Kmart
 
 
230

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

 
89.0
%
 
736

 
9.68

 
VG's Food (SpartanNash)
 
ACO Hardware
 
 
231

 
Farmington Crossroads
 
Farmington
 
MI
 
Detroit-Warren-Dearborn, MI
 
2013
 
87,391

 
91.8
%
 
746

 
9.30

 
 
Dollar Tree, Ollie's Bargain Outlet, True Value
 
 
232

 
Silver Pointe Shopping Center
 
Fenton
 
MI
 
Flint, MI
 
1996
 
163,919

 
79.4
%
 
1,648

 
12.67

 
VG's Food (SpartanNash)
 
Dunham's Sports
 
 
233

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

 
75.3
%
 
547

 
7.29

 
D&W Fresh Market (SpartanNash)
 
 
 
234

 
Delta Center
 
Lansing
 
MI
 
Lansing-East Lansing, MI
 
2005
 
186,246

 
92.5
%
 
1,284

 
7.92

 
 
Bed Bath & Beyond, Gift & Bible Center, Hobby Lobby, Planet Fitness
 
 
235

 
Lakes Crossing
 
Muskegon
 
MI
 
Muskegon, MI
 
2011
 
114,623

 
81.4
%
 
1,265

 
14.84

 
 
Jo-Ann Fabric & Craft Stores, Party City
 
Kohl's
236

 
Redford Plaza
 
Redford
 
MI
 
Detroit-Warren-Dearborn, MI
 
1992
 
293,827

 
86.7
%
 
2,314

 
9.08

 
Kroger
 
Burlington Coat Factory, CW Price
 
 
237

 
Hampton Village Centre
 
Rochester Hills
 
MI
 
Detroit-Warren-Dearborn, MI
 
2004
 
454,719

 
98.7
%
 
5,545

 
16.22

 
 
Best Buy, Emagine Theatre, Kohl's, T.J.Maxx
 
Target
238

 
Fashion Corners
 
Saginaw
 
MI
 
Saginaw, MI
 
2004
 
187,832

 
95.5
%
 
1,724

 
9.61

 
 
Bed Bath & Beyond, Best Buy, Dunham's Sports
 
 
239

 
Green Acres
 
Saginaw
 
MI
 
Saginaw, MI
 
2011
 
281,646

 
77.1
%
 
1,525

 
11.68

 
Kroger
 
Ollie's Bargain Outlet, Planet Fitness
 
 
240

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

 
100.0
%
 
2,279

 
12.98

 
 
Gander Mountain, Michaels, Old Navy, T.J.Maxx
 
 
241

 
Southfield Plaza
 
Southfield
 
MI
 
Detroit-Warren-Dearborn, MI
 
2002
 
106,948

 
76.6
%
 
862

 
10.52

 
 
Dollar Castle, Planet Fitness
 
Burlington Coat Factory
242

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

 
100.0
%
 
1,419

 
13.95

 
VG's Food (SpartanNash)
 
O'Reilly Auto Parts, Planet Fitness
 
 
243

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

 
100.0
%
 
885

 
5.72

 
 
Babies"R"Us, Bed Bath & Beyond, Dunham's Mega Sports
 
 
244

 
Grand Traverse Crossing
 
Traverse City
 
MI
 
Traverse City, MI
 
1996
 
412,755

 
96.9
%
 
2,645

 
27.56

 
Walmart Supercenter
 
Books-A-Million, The Home Depot
 
 
245

 
West Ridge
 
Westland
 
MI
 
Detroit-Warren-Dearborn, MI
 
1989
 
163,131

 
75.6
%
 
887

 
7.19

 
 
Bargain Club, Office Solutions, The Tile Shop
 
Burlington Coat Factory, Target
246

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

 
97.0
%
 
1,619

 
6.77

 
 
Ollie's Bargain Outlet, Walmart
 
 
247

 
Washtenaw Fountain Plaza
 
Ypsilanti
 
MI
 
Ann Arbor, MI
 
2005
 
123,390

 
90.9
%
 
754

 
6.73

 
Save-A-Lot
 
Dollar Tree, Dunham's Sports, Planet Fitness
 
 
248

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

 
100.0
%
 
2,048

 
16.39

 
SuperTarget*
 
Best Buy, Dollar Tree, Walgreens
 
 
249

 
Austin Town Center
 
Austin
 
MN
 
Austin, MN
 
1999
 
110,680

 
95.1
%
 
728

 
6.92

 
ALDI
 
Jo-Ann Fabric & Craft Stores, Staples
 
Target
250

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

 
97.6
%
 
1,815

 
10.16

 
 
Best Buy, Dunham's Sports, T.J.Maxx
 
 
251

 
Elk Park Center
 
Elk River
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
1999
 
204,992

 
95.4
%
 
1,931

 
10.03

 
Cub Foods (Jerry's Foods)
 
OfficeMax
 
 
252

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

 
100.0
%
 
1,241

 
14.11

 
Cub Foods (Supervalu)*
 
 
 
253

 
Richfield Hub & West Shopping Center
Richfield
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
1992
 
215,334

 
82.0
%
 
2,135

 
12.09

 
Rainbow Foods (Roundy's)
 
Marshalls, Michaels
 
 
254

 
Roseville Center
 
Roseville
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
2000
 
76,894

 
79.8
%
 
882

 
14.37

 
Rainbow Foods (Roundy's)*
 
Dollar Tree, Hancock Fabrics
 
 
255

 
Marketplace @ 42
 
Savage
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
1999
 
117,873

 
94.6
%
 
1,447

 
13.26

 
Rainbow Foods (Roundy's)
 
 
 
256

 
Sun Ray Shopping Center
 
St. Paul
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
2013
 
290,392

 
88.2
%
 
2,210

 
11.61

 
Cub Foods (Supervalu)
 
Blast Fitness, T.J.Maxx, Valu Thrift Store
 
 
257

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

 
100.0
%
 
691

 
9.45

 
Festival Foods
 
Dollar Tree
 
 

Page 50




258

 
Ellisville Square
 
Ellisville
 
MO
 
St. Louis, MO-IL
 
1989
 
148,940

 
89.5
%
 
1,119

 
8.40

 
 
Kmart, Lukas Liquors
 
 
259

 
Clocktower Place
 
Florissant
 
MO
 
St. Louis, MO-IL
 
2013
 
207,317

 
91.2
%
 
1,336

 
7.18

 
ALDI
 
Florissant Furniture & Rug Gallery, Office Depot, Ross Dress for Less
 
 
260

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

 
92.9
%
 
798

 
5.71

 
Price Chopper
 
 
 
261

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

 
100.0
%
 
1,506

 
9.31

 
Price Chopper
 
Ace Hardware
 
 
262

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

 
100.0
%
 
974

 
7.80

 
Price Chopper
 
 
 
263

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

 
88.6
%
 
428

 
6.75

 
Shop 'n Save (Supervalu)
 
 
 
264

 
Clinton Crossing
 
Clinton
 
MS
 
Jackson, MS
 
2008
 
112,148

 
99.0
%
 
1,051

 
9.74

 
Kroger
 
 
 
265

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

 
66.8
%
 
1,830

 
12.38

 
 
Conn's, Office Depot
 
 
266

 
Jacksonian Plaza
 
Jackson
 
MS
 
Jackson, MS
 
1990
 
73,041

 
82.5
%
 
341

 
5.82

 
Kroger*
 
Books-A-Million, Office Depot
 
 
267

 
Devonshire Place
 
Cary
 
NC
 
Raleigh, NC
 
2012
 
106,691

 
100.0
%
 
1,425

 
24.81

 
 
Dollar Tree, Golf Galaxy, REI
 
 
268

 
McMullen Creek Market
 
Charlotte
 
NC
 
Charlotte-Concord-Gastonia, NC-SC
 
2014
 
262,981

 
83.0
%
 
2,591

 
11.86

 
Walmart Neighborhood Market
 
Burlington Coat Factory, Dollar Tree, Rugged Warehouse
 
 
269

 
The Commons at Chancellor Park
 
Charlotte
 
NC
 
Charlotte-Concord-Gastonia, NC-SC
 
2005
 
348,604

 
81.6
%
 
1,865

 
10.42

 
 
Big Lots, The Home Depot, Value City Furniture
 
 
270

 
Parkwest Crossing
 
Durham
 
NC
 
Durham-Chapel Hill, NC
 
1990
 
85,602

 
94.9
%
 
803

 
9.89

 
Food Lion
 
Dollar Tree
 
 
271

 
Macon Plaza
 
Franklin
 
NC
 
 
2001
 
92,787

 
86.9
%
 
432

 
5.37

 
BI-LO
 
Peebles
 
 
272

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

 
90.7
%
 
1,981

 
11.85

 
Kroger
 
OfficeMax, PetSmart
 
Target, The Home Depot
273

 
Franklin Square
 
Gastonia
 
NC
 
Charlotte-Concord-Gastonia, NC-SC
 
2007
 
318,435

 
88.8
%
 
2,948

 
11.69

 
Walmart Supercenter*
 
Bed Bath & Beyond, Best Buy, Michaels, OfficeMax, Ross Dress for Less
 
 
274

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

 
97.2
%
 
4,518

 
11.42

 
 
Babies"R"Us, Christmas Tree Shops, Dick's Sporting Goods, Kohl's, Michaels, Old Navy, PetSmart, Ross Dress for Less
 
Target
275

 
University Commons
 
Greenville
 
NC
 
Greenville, NC
 
2014
 
233,153

 
98.7
%
 
2,954

 
12.83

 
Harris Teeter (Kroger)
 
A.C. Moore, Barnes & Noble, T.J.Maxx
 
Target
276

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

 
84.8
%
 
1,397

 
8.60

 
 
Academy Sports + Outdoors, Harbor Freight Tools, Ollie's Bargain Outlet
 
 
277

 
Kinston Pointe
 
Kinston
 
NC
 
Kinston, NC
 
2001
 
250,580

 
98.3
%
 
830

 
13.70

 
Walmart Supercenter
 
Dollar Tree
 
 
278

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

 
44.6
%
 
296

 
6.34

 
Ingles
 
 
Walmart
279

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

 
97.2
%
 
1,215

 
13.73

 
 
Person County Health & Human Services
 
 
280

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

 
98.7
%
 
3,647

 
10.57

 
Food Lion
 
Lowe's, Marshalls, Old Navy, PetSmart, Staples, Tinseltown
 
 
281

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

 
72.8
%
 
640

 
11.03

 
Food Lion
 
Family Dollar
 
 
282

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

 
96.7
%
 
1,859

 
5.65

 
Walmart Supercenter
 
Big Lots, Burke's Outlet, Tractor Supply
 
 
283

 
Anson Station
 
Wadesboro
 
NC
 
Charlotte-Concord-Gastonia, NC-SC
 
1988
 
132,353

 
65.5
%
 
572

 
6.59

 
Food Lion
 
Goody's, Tractor Supply Co.
 
 
284

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

 
92.6
%
 
1,669

 
12.90

 
 
Marshalls, OfficeMax, PetSmart
 
Target
285

 
University Commons
 
Wilmington
 
NC
 
Wilmington, NC
 
2007
 
235,345

 
97.6
%
 
3,142

 
13.68

 
Lowes Foods
 
A.C. Moore, HomeGoods, T.J.Maxx
 
 
286

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

 
96.5
%
 
1,039

 
13.00

 
Harris Teeter (Kroger)
 
Rugged Wearhouse
 
 
287

 
Parkway Plaza
 
Winston-Salem
 
NC
 
Winston-Salem, NC
 
2005
 
283,830

 
90.8
%
 
2,729

 
11.15

 
Super Compare Foods
 
Big Lots, Citi Trends, Office Depot
 
 
288

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

 
83.8
%
 
867

 
14.32

 
 
Golf Galaxy, Mattress Firm, OfficeMax
 
 
289

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

 
99.4
%
 
1,986

 
20.55

 
Hannaford Bros. (Delhaize)
 
Walmart
 
 
290

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

 
100.0
%
 
1,895

 
10.61

 
DeMoulas Supermarkets
 
Burlington Coat Factory, Jo-Ann Fabric & Craft Stores, Marshalls
 
 
291

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

 
100.0
%
 
2,078

 
17.26

 
 
JC Penney, Jordan's Warehouse, NAMCO, Petco
 
The Home Depot

Page 51




292

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

 
92.1
%
 
1,045

 
12.37

 
 
Jo-Ann Fabric & Craft Stores
 
Walmart
293

 
Tri-City Plaza
 
Somersworth
 
NH
 
Boston-Cambridge-Newton, MA-NH
 
1990
 
146,947

 
85.2
%
 
1,031

 
8.23

 
DeMoulas Supermarkets
 
T.J.Maxx
 
 
294

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

 
89.1
%
 
1,698

 
7.75

 
Pathmark (A&P)
 
Kmart
 
 
295

 
the Shoppes at Cinnaminson
 
Cinnaminson
 
NJ
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2010
 
297,862

 
99.4
%
 
4,263

 
21.71

 
ShopRite
 
Burlington Coat Factory, Ross Dress For Less
 
 
296

 
A&P Fresh Market
 
Clark
 
NJ
 
New York-Newark-Jersey City, NY-NJ-PA
 
2007
 
52,812

 
100.0
%
 
1,357

 
25.70

 
A&P Fresh
 
 
 
297

 
Collegetown Shopping Center
 
Glassboro
 
NJ
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2014
 
250,515

 
93.6
%
 
1,921

 
8.20

 
 
Kmart, LA Fitness, Staples
 
 
298

 
Hamilton Plaza-Kmart Plaza
 
Hamilton
 
NJ
 
Trenton, NJ
 
2014
 
148,919

 
96.7
%
 
1,002

 
6.96

 
 
Kmart
 
 
299

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

 
89.2
%
 
1,434

 
30.92

 
Super Stop & Shop (Ahold)
 
 
 
300

 
Lakewood Plaza
 
Lakewood
 
NJ
 
New York-Newark-Jersey City, NY-NJ-PA
 
1966
 
203,547

 
99.0
%
 
2,989

 
14.83

 
ShopRite
 
 
 
301

 
Marlton Crossing
 
Marlton
 
NJ
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2013
 
333,255

 
96.7
%
 
4,981

 
15.45

 
 
Burlington Coat Factory, DSW, HomeGoods, T.J.Maxx
 
 
302

 
Middletown Plaza
 
Middletown
 
NJ
 
New York-Newark-Jersey City, NY-NJ-PA
 
2001
 
197,466

 
100.0
%
 
3,670

 
18.58

 
ShopRite
 
 
 
303

 
Old Bridge Gateway
 
Old Bridge
 
NJ
 
New York-Newark-Jersey City, NY-NJ-PA
 
1995
 
235,995

 
85.9
%
 
3,193

 
15.75

 
 
Marshalls, Pep Boys, Robert Wood Johnson Fitness
 
 
304

 
Morris Hills Shopping Center
 
Parsippany
 
NJ
 
New York-Newark-Jersey City, NY-NJ-PA
 
1994
 
159,229

 
97.4
%
 
2,783

 
23.05

 
 
Blink Fitness (Equinox), Clearview Cinema Group, HomeGoods, Marshalls
 
 
305

 
Rio Grande Plaza
 
Rio Grande
 
NJ
 
Ocean City, NJ
 
1997
 
141,355

 
94.0
%
 
1,536

 
11.56

 
ShopRite*
 
JC Penney, Peebles, PetSmart
 
 
306

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

 
99.1
%
 
3,119

 
17.56

 
ShopRite
 
Staples
 
 
307

 
ShopRite Supermarket
 
Springfield
 
NJ
 
New York-Newark-Jersey City, NY-NJ-PA
 
1965
 
32,209

 
100.0
%
 
389

 
12.09

 
ShopRite
 
 
 
308

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

 
80.1
%
 
1,207

 
15.31

 
A&P*
 
Dollar Tree, WOW! Fitness
 
 
309

 
Cross Keys Commons
 
Turnersville
 
NJ
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1996
 
216,428

 
91.8
%
 
3,122

 
15.71

 
Walmart Supercenter*
 
Marshalls, Ross Dress for Less
 
 
310

 
Dover Park Plaza
 
Yardville
 
NJ
 
Trenton, NJ
 
2005
 
56,808

 
82.8
%
 
716

 
15.23

 
 
CVS, Dollar Buys
 
 
311

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

 
100.0
%
 
413

 
11.54

 
Whole Foods Market
 
Walgreens
 
 
312

 
Smith's
 
Socorro
 
NM
 
 
1976
 
48,000

 
100.0
%
 
506

 
10.54

 
Smith's (Kroger)
 
 
 
313

 
Galleria Commons
 
Henderson
 
NV
 
Las Vegas-Henderson-Paradise, NV
 
2005
 
275,011

 
91.7
%
 
2,651

 
10.51

 
 
Babies"R"Us, Burlington Coat Factory, Stein Mart, T.J.Maxx
 
 
314

 
Montecito Marketplace
 
Las Vegas
 
NV
 
Las Vegas-Henderson-Paradise, NV
 
2006
 
190,434

 
100.0
%
 
3,661

 
19.22

 
Smith's (Kroger)
 
T.J.Maxx
 
 
315

 
Renaissance Center East
 
Las Vegas
 
NV
 
Las Vegas-Henderson-Paradise, NV
 
2012
 
144,216

 
75.0
%
 
1,289

 
11.91

 
 
Savers
 
 
316

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

 
93.8
%
 
2,194

 
26.09

 
 
Minado, Stew Leonard's Wines, T.J.Maxx
 
 
317

 
Kmart Plaza
 
Dewitt
 
NY
 
Syracuse, NY
 
1970
 
115,500

 
94.7
%
 
561

 
22.09

 
 
Kmart, OfficeMax
 
 
318

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

 
100.0
%
 
1,386

 
20.55

 
A&P Fresh
 
 
 
319

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

 
98.1
%
 
1,045

 
12.61

 
Waldbaum's (A&P)
 
 
Kohl's
320

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

 
99.1
%
 
1,809

 
23.57

 
King Kullen
 
Ace Hardware
 
 
321

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

 
90.9
%
 
2,683

 
15.25

 
 
Burlington Coat Factory, K&G Men's Center
 
 
322

 
Genesee Valley Shopping Center
 
Geneseo
 
NY
 
Rochester, NY
 
2007
 
191,314

 
100.0
%
 
1,831

 
9.85

 
Wegmans
 
Tractor Supply Co.
 
 
323

 
McKinley Plaza
 
Hamburg
 
NY
 
Buffalo-Cheektowaga-Niagara Falls, NY
 
1991
 
93,144

 
97.9
%
 
1,243

 
13.64

 
Wegmans*
 
A.C. Moore, T.J.Maxx
 
 
324

 
Dalewood I, II & III Shopping Center
Hartsdale
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2012
 
191,441

 
100.0
%
 
5,848

 
31.21

 
H-Mart, Mrs. Green's Natural Market
 
Christmas Tree Shops, T.J.Maxx
 
 
325

 
Hornell Plaza
 
Hornell
 
NY
 
Corning, NY
 
2005
 
253,335

 
98.5
%
 
1,986

 
7.96

 
Wegmans
 
Walmart
 
 

Page 52




326

 
Cayuga Mall
 
Ithaca
 
NY
 
Ithaca, NY
 
2013
 
204,830

 
96.7
%
 
1,586

 
8.01

 
 
Jo-Ann Fabric & Craft Stores, Party City, Rite Aid, T.J.Maxx, True Value
 
 
327

 
Kings Park Shopping Center
 
Kings Park
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1985
 
71,940

 
98.3
%
 
1,387

 
19.60

 
Key Food Marketplace
 
T.J.Maxx
 
 
328

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

 
91.5
%
 
1,088

 
19.47

 
 
Advance Auto Parts, OfficeMax
 
 
329

 
Shops at Seneca Mall
 
Liverpool
 
NY
 
Syracuse, NY
 
2005
 
231,024

 
66.7
%
 
709

 
4.60

 
 
Big Lots, Kmart
 
 
330

 
A & P Mamaroneck
 
Mamaroneck
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1976
 
24,978

 
100.0
%
 
177

 

 
A&P
 
 
 
331

 
Village Square
 
Mamaroneck
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1981
 
17,000

 
100.0
%
 
553

 
32.50

 
Trader Joe's
 
 
 
332

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

 
95.7
%
 
2,782

 
13.02

 
Super Stop & Shop (Ahold)
 
Planet Fitness, Savers
 
 
333

 
Wallkill Plaza
 
Middletown
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2012
 
209,960

 
85.2
%
 
1,763

 
10.21

 
 
Ashley Furniture, Big Lots, Hobby Lobby
 
 
334

 
Monroe ShopRite Plaza
 
Monroe
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1985
 
121,850

 
98.5
%
 
1,738

 
14.48

 
ShopRite
 
Retro Fitness, Rite Aid, U.S. Post Office
 
 
335

 
Rockland Plaza
 
Nanuet
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2006
 
252,537

 
95.1
%
 
5,867

 
24.43

 
A Matter of Health
 
Barnes & Noble, Marshalls, Modell's Sporting Goods, Petco
 
 
336

 
North Ridge Plaza
 
New Rochelle
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1971
 
40,991

 
77.7
%
 
1,143

 
35.86

 
 
Harmon Discount
 
 
337

 
Nesconset Shopping Center
 
Port Jefferson Station
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2012
 
122,996

 
97.4
%
 
2,245

 
18.73

 
 
Dollar Tree, HomeGoods
 
 
338

 
Port Washington
 
Port Washington
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1968
 
19,600

 
100.0
%
 
112

 
5.69

 
North Shore Farms
 
 
 
339

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

 
100.0
%
 
1,670

 
16.85

 
Best Yet Market
 
CVS, T.J.Maxx
 
 
340

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

 
100.0
%
 
814

 
18.45

 
 
HomeGoods, Rite Aid
 
 
341

 
Mohawk Acres
 
Rome
 
NY
 
Utica-Rome, NY
 
2005
 
159,701

 
90.2
%
 
1,497

 
10.40

 
Price Chopper
 
 
 
342

 
College Plaza
 
Selden
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2013
 
175,682

 
96.6
%
 
2,642

 
15.57

 
ShopRite
 
Blink Fitness (Equinox), Bob's Stores, Rite Aid
 
 
343

 
Campus Plaza
 
Vestal
 
NY
 
Binghamton, NY
 
2003
 
160,744

 
95.8
%
 
1,624

 
10.55

 
 
Olum's Furniture & Appliances, Staples
 
 
344

 
Parkway Plaza
 
Vestal
 
NY
 
Binghamton, NY
 
2012
 
204,954

 
100.0
%
 
2,068

 
10.09

 
PriceRite (ShopRite)
 
Bed Bath & Beyond, Kohl's, PetSmart
 
Target
345

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

 
100.0
%
 
1,392

 
15.07

 
 
HomeGoods, Michaels, Old Navy
 
 
346

 
Town Square Mall
 
Vestal
 
NY
 
Binghamton, NY
 
2012
 
293,080

 
99.4
%
 
4,497

 
15.44

 
Sam's Club*, Walmart Supercenter*
 
Barnes & Noble, Dick's Sporting Goods, Lowes Cinemas, T.J.Maxx
 
 
347

 
The Plaza at Salmon Run
 
Watertown
 
NY
 
Watertown-Fort Drum, NY
 
1993
 
68,761

 
100.0
%
 
690

 
10.03

 
Hannaford Bros. (Delhaize)
 
Pier 1 Imports
 
 
348

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

 
95.5
%
 
1,742

 
20.61

 
Pathmark (A&P)
 
 
 
349

 
Brunswick Town Center
 
Brunswick
 
OH
 
Cleveland-Elyria, OH
 
2004
 
138,407

 
95.2
%
 
1,754

 
13.31

 
Giant Eagle
 
 
The Home Depot
350

 
30th Street Plaza
 
Canton
 
OH
 
Canton-Massillon, OH
 
1999
 
157,055

 
89.1
%
 
1,444

 
10.32

 
Giant Eagle, Marc's
 
 
 
351

 
Brentwood Plaza
 
Cincinnati
 
OH
 
Cincinnati, OH-KY-IN
 
2004
 
227,952

 
95.2
%
 
2,205

 
10.54

 
Kroger
 
Conway
 
 
352

 
Delhi Shopping Center
 
Cincinnati
 
OH
 
Cincinnati, OH-KY-IN
 
2012
 
170,170

 
93.4
%
 
1,399

 
8.99

 
Kroger
 
Salvation Army
 
 
353

 
Harpers Station
 
Cincinnati
 
OH
 
Cincinnati, OH-KY-IN
 
2000
 
244,243

 
94.4
%
 
2,844

 
12.34

 
Fresh Thyme Farmers Market
 
HomeGoods, LA Fitness, Stein Mart, T.J.Maxx
 
 
354

 
Western Hills Plaza
 
Cincinnati
 
OH
 
Cincinnati, OH-KY-IN
 
2011
 
314,754

 
100.0
%
 
3,691

 
12.05

 
 
Bed Bath & Beyond, Michaels, Sears, Staples, T.J.Maxx
 
Target
355

 
Western Village
 
Cincinnati
 
OH
 
Cincinnati, OH-KY-IN
 
2005
 
115,116

 
100.0
%
 
1,070

 
9.29

 
Kroger
 
 
 
356

 
Crown Point
 
Columbus
 
OH
 
Columbus, OH
 
1998
 
145,115

 
83.9
%
 
1,177

 
9.67

 
Kroger
 
 
 
357

 
Greentree Shopping Center
 
Columbus
 
OH
 
Columbus, OH
 
2005
 
130,712

 
81.2
%
 
1,053

 
10.73

 
Kroger
 
 
 
358

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

 
88.8
%
 
131

 
8.25

 
Kroger*
 
 
 
359

 
South Towne Centre
 
Dayton
 
OH
 
Dayton, OH
 
2013
 
331,797

 
94.8
%
 
4,194

 
14.36

 
Health Foods Unlimited
 
Burlington Coat Factory, Christmas Tree Shops, Jo-Ann Fabric & Craft Stores, Value City Furniture
 
 

Page 53




360

 
The Vineyards
 
Eastlake
 
OH
 
Cleveland-Elyria, OH
 
1989
 
144,820

 
88.5
%
 
751

 
5.86

 
Good Cents Grocery + More (Giant Eagle)
 
Harbor Freight Tools
 
Walmart
361

 
Midway Market Square
 
Elyria
 
OH
 
Cleveland-Elyria, OH
 
2014
 
232,252

 
86.0
%
 
2,310

 
11.56

 
Giant Eagle
 
Dick's Sporting Goods, Jo-Ann Fabric & Craft Stores
 
Target, The Home Depot
362

 
Southland Shopping Center
 
Middleburg Heights
OH
 
Cleveland-Elyria, OH
 
2013
 
696,359

 
94.1
%
 
6,204

 
9.47

 
BJ's Wholesale Club, Giant Eagle, Marc's
 
Burlington Coat Factory, Cleveland Furniture Bank, Jo-Ann Fabric & Craft Stores, Marshalls
 
 
363

 
Tops Plaza
 
North Olmsted
 
OH
 
Cleveland-Elyria, OH
 
2002
 
70,003

 
100.0
%
 
1,053

 
15.05

 
 
 
 
364

 
Tops Plaza
 
North Ridgeville
 
OH
 
Cleveland-Elyria, OH
 
2002
 
60,830

 
87.5
%
 
773

 
14.51

 
 
Pat Catan's Craft Centers
 
 
365

 
Surrey Square Mall
 
Norwood
 
OH
 
Cincinnati, OH-KY-IN
 
2010
 
173,656

 
96.6
%
 
2,039

 
24.42

 
Kroger
 
Marshalls
 
 
366

 
Market Place
 
Piqua
 
OH
 
Dayton, OH
 
2012
 
182,824

 
92.5
%
 
647

 
6.80

 
Kroger
 
Roses
 
 
367

 
Brice Park
 
Reynoldsburg
 
OH
 
Columbus, OH
 
1989
 
158,565

 
78.7
%
 
1,036

 
9.14

 
 
Ashley Furniture, Michaels
 
 
368

 
Streetsboro Crossing
 
Streetsboro
 
OH
 
Akron, OH
 
2002
 
89,436

 
100.0
%
 
674

 
7.54

 
Giant Eagle
 
 
Lowe's
369

 
Miracle Mile Shopping Plaza
 
Toledo
 
OH
 
Toledo, OH
 
2014
 
318,174

 
71.3
%
 
1,427

 
6.29

 
Kroger
 
Big Lots
 
 
370

 
Southland Shopping Plaza
 
Toledo
 
OH
 
Toledo, OH
 
1988
 
290,892

 
80.6
%
 
1,434

 
6.11

 
Kroger
 
Big Lots, Planet Fitness, Shopper's World
 
 
371

 
Wadsworth Crossings
 
Wadsworth
 
OH
 
Cleveland-Elyria, OH
 
2005
 
108,166

 
94.1
%
 
1,564

 
15.37

 
 
Bed Bath & Beyond, MC Sports, OfficeMax, Petco
 
Kohl's, Lowe's, Target
372

 
Northgate Plaza
 
Westerville
 
OH
 
Columbus, OH
 
2008
 
12,819

 
100.0
%
 
196

 
15.26

 
Kroger*
 
 
The Home Depot
373

 
Marketplace
 
Tulsa
 
OK
 
Tulsa, OK
 
1992
 
186,851

 
100.0
%
 
1,760

 
9.42

 
 
Conn's, Drysdales, PetSmart
 
Best Buy, JC Penney Home Store
374

 
Village West
 
Allentown
 
PA
 
Allentown-Bethlehem-Easton, PA-NJ
 
1999
 
140,490

 
97.2
%
 
2,235

 
16.37

 
Giant Food (Ahold)
 
 
 
375

 
Park Hills Plaza
 
Altoona
 
PA
 
Altoona, PA
 
1985
 
279,746

 
91.8
%
 
1,915

 
7.46

 
Weis Markets
 
Dunham's Sports, Petco, Toys"R"Us
 
 
376

 
Bensalem Square
 
Bensalem
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1986
 
70,378

 
100.0
%
 
681

 
9.68

 
Redner's Warehouse Market
 
 
 
377

 
Bethel Park
 
Bethel Park
 
PA
 
Pittsburgh, PA
 
2004
 
218,714

 
100.0
%
 
1,697

 
8.52

 
Giant Eagle
 
Walmart
 
 
378

 
Bethlehem Square
 
Bethlehem
 
PA
 
Allentown-Bethlehem-Easton, PA-NJ
 
1994
 
389,450

 
100.0
%
 
3,628

 
9.32

 
Giant Food (Ahold)
 
The Home Depot, T.J.Maxx, Walmart
 
 
379

 
Lehigh Shopping Center
 
Bethlehem
 
PA
 
Allentown-Bethlehem-Easton, PA-NJ
 
2013
 
378,353

 
93.6
%
 
3,044

 
10.88

 
Giant Food (Ahold)
 
Big Lots, Mega Marshalls, PetSmart, Staples, Wells Fargo
 
 
380

 
Boyertown Shopping Center
 
Boyertown
 
PA
 
Reading, PA
 
2012
 
83,229

 
73.2
%
 
636

 
10.44

 
 
Advance Auto Parts, Big Lots, CVS
 
 
381

 
Bristol Park
 
Bristol
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2013
 
276,653

 
98.8
%
 
2,391

 
8.74

 
Walmart Supercenter
 
Ollie's Bargain Outlet
 
 
382

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

 
82.4
%
 
444

 
11.70

 
 
 
 
383

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

 
97.8
%
 
2,382

 
16.94

 
Giant Food (Ahold)
 
 
 
384

 
Collegeville Shopping Center
 
Collegeville
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2004
 
110,696

 
42.7
%
 
716

 
15.15

 
 
Pep Boys
 
 
385

 
Whitemarsh Shopping Center
 
Conshohocken
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2002
 
67,476

 
100.0
%
 
1,350

 
20.01

 
Giant Food (Ahold)
 
Wine & Spirits Shoppe
 
 
386

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

 
100.0
%
 
1,004

 
9.56

 
 
Chuck E. Cheese's, Mealey's Furniture
 
 
387

 
Dickson City Crossings
 
Dickson City
 
PA
 
Scranton--Wilkes-Barre--Hazleton, PA
 
1997
 
301,462

 
100.0
%
 
3,089

 
15.62

 
 
Dick's Sporting Goods, hhgregg, PetSmart, The Home Depot, T.J.Maxx
 
 
388

 
Dillsburg Shopping Center
 
Dillsburg
 
PA
 
York-Hanover, PA
 
2014
 
153,088

 
100.0
%
 
1,901

 
12.65

 
Giant Food (Ahold)
 
Tractor Supply Co.
 
 
389

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

 
99.3
%
 
3,245

 
13.75

 
 
Kohl's, Marshalls, Regal Cinemas
 
 
390

 
Pilgrim Gardens
 
Drexel Hill
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2014
 
79,252

 
88.9
%
 
1,015

 
14.42

 
 
Dollar Tree, Ross Dress for Less
 
 
391

 
Gilbertsville Shopping Center
 
Gilbertsville
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2002
 
85,748

 
82.6
%
 
642

 
9.05

 
Weis Markets
 
 
 
392

 
Mount Carmel Plaza
 
Glenside
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1975
 
14,504

 
89.7
%
 
152

 
11.67

 
 
SGS Paper
 
 
393

 
Kline Plaza
 
Harrisburg
 
PA
 
Harrisburg-Carlisle, PA
 
1952
 
220,288

 
89.8
%
 
1,769

 
8.94

 
Giant Food (Ahold)
 
The Dept. of Health
 
 

Page 54




394

 
New Garden Shopping Center
 
Kennett Square
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2012
 
145,170

 
89.3
%
 
932

 
7.36

 
 
Big Lots, Ollie's Bargain Outlet
 
 
395

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

 
100.0
%
 
1,266

 
11.86

 
Giant Food (Ahold)
 
Majik Rent-To-Own
 
 
396

 
Woodbourne Square
 
Langhorne
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1984
 
29,821

 
80.9
%
 
482

 
19.97

 
 
 
 
397

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

 
60.6
%
 
649

 
20.45

 
Weis Markets*
 
 
 
398

 
New Holland Shopping Center
 
New Holland
 
PA
 
Lancaster, PA
 
1995
 
65,878

 
88.0
%
 
416

 
7.18

 
Amelia's Grocery Outlet
 
Family Dollar
 
 
399

 
Village at Newtown
 
Newtown
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1989
 
177,185

 
96.3
%
 
4,097

 
24.01

 
McCaffrey's
 
Pier 1 Imports
 
 
400

 
Cherry Square
 
Northampton
 
PA
 
Allentown-Bethlehem-Easton, PA-NJ
 
1989
 
75,005

 
94.9
%
 
675

 
9.48

 
Redner's Warehouse Market
 
 
 
401

 
Ivyridge
 
Philadelphia
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2006
 
107,318

 
97.9
%
 
2,200

 
20.94

 
SuperFresh (A&P)
 
 
 
402

 
Roosevelt Mall
 
Philadelphia
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2011
 
561,781

 
98.4
%
 
7,242

 
30.76

 
 
Macy's, Modell's Sporting Goods, Ross Dress For Less
 
 
403

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

 
97.6
%
 
1,258

 
7.30

 
Redner's Warehouse Market
 
French Creek Outfitters, Staples
 
 
404

 
Plymouth Plaza
 
Plymouth Meeting
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1994
 
33,813

 
95.8
%
 
979

 
30.22

 
 
Clear Wireless, Medical Rehabilitation Centers of Pennsylvania
 
 
405

 
County Line Plaza
 
Souderton
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2013
 
154,758

 
91.6
%
 
1,431

 
10.52

 
Bottom Dollar Food (Delhaize)
 
Planet Fitness, VF Outlet
 
 
406

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

 
100.0
%
 
383

 
9.19

 
Pathmark (A&P)*
 
EZ Bargains, Rent-A-Center, Super Dollar City
 
 
407

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

 
100.0
%
 
3,320

 
15.19

 
ShopRite
 
A.C. Moore, PetSmart, Ross Dress for Less
 
 
408

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

 
94.1
%
 
684

 
11.47

 
Musser's Markets
 
Hallmark
 
Kmart
409

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

 
97.5
%
 
3,312

 
10.77

 
Redner's Warehouse Market
 
Mealey's Furniture, Ross Dress for Less, Sports Authority
 
 
410

 
Wilkes-Barre Township Marketplace
Wilkes-Barre
 
PA
 
Scranton--Wilkes-Barre--Hazleton, PA
 
2004
 
307,610

 
100.0
%
 
2,113

 
27.49

 
Walmart Supercenter
 
 
 
411

 
Hunt River Commons
 
North Kingstown
 
RI
 
Providence-Warwick, RI-MA
 
1989
 
148,126

 
97.4
%
 
1,435

 
9.95

 
Super Stop & Shop (Ahold)
 
Marshalls, Ocean State Job Lot
 
 
412

 
Belfair Towne Village
 
Bluffton
 
SC
 
Hilton Head Island-Bluffton-Beaufort, SC
 
2006
 
166,639

 
94.5
%
 
2,174

 
13.82

 
Kroger
 
Stein Mart
 
 
413

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

 
90.6
%
 
1,222

 
15.03

 
BI-LO
 
 
 
414

 
Circle Center
 
Hilton Head
 
SC
 
Hilton Head Island-Bluffton-Beaufort, SC
 
2000
 
65,213

 
91.6
%
 
693

 
11.60

 
BI-LO
 
 
 
415

 
Island Plaza
 
James Island
 
SC
 
Charleston-North Charleston, SC
 
2004
 
171,224

 
99.3
%
 
1,260

 
7.41

 
Food Lion
 
Burke's Outlet, Dollar Tree, Gold's Gym
 
 
416

 
Festival Centre
 
North Charleston
 
SC
 
Charleston-North Charleston, SC
 
2004
 
325,347

 
74.5
%
 
1,426

 
5.96

 
 
Fred's, Gold's Gym, Intercontinental Hotels Group, World Overcomers Ministries
 
 
417

 
Remount Village Shopping Center
North Charleston
 
SC
 
Charleston-North Charleston, SC
 
1996
 
60,238

 
79.0
%
 
432

 
9.09

 
BI-LO
 
 
 
418

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

 
98.5
%
 
1,772

 
13.74

 
 
Ross Dress for Less, T.J.Maxx
 
Target
419

 
Hillcrest
 
Spartanburg
 
SC
 
Spartanburg, SC
 
2012
 
385,609

 
73.4
%
 
2,991

 
11.30

 
Publix
 
Marshalls, Office Depot, Petco, Ross Dress for Less, Stein Mart
 
 
420

 
Shoppes at Hickory Hollow
 
Antioch
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
1986
 
144,469

 
82.0
%
 
1,301

 
10.98

 
Kroger
 
Citi Trends
 
 
421

 
Congress Crossing
 
Athens
 
TN
 
Athens, TN
 
2012
 
180,305

 
96.7
%
 
1,402

 
8.04

 
 
Dunham's Sports, Kmart
 
 
422

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

 
88.8
%
 
567

 
10.84

 
Food Lion
 
 
 
423

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

 
95.7
%
 
2,066

 
8.22

 
ALDI
 
Big Lots, Kmart, Trees n Trends
 
 
424

 
Williamson Square
 
Franklin
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
1993
 
329,242

 
96.0
%
 
2,591

 
8.20

 
Kroger
 
Grace Church Nashville, Hobby Lobby, USA Baby
 
 
425

 
Greensboro Village
 
Gallatin
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
2005
 
70,203

 
97.7
%
 
959

 
13.98

 
Publix
 
 
 
426

 
Greeneville Commons
 
Greeneville
 
TN
 
Greeneville, TN
 
2002
 
228,618

 
96.4
%
 
1,554

 
11.84

 
 
Belk, Burke's Outlet, JC Penney, Kmart
 
 
427

 
Oakwood Commons
 
Hermitage
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
2005
 
278,017

 
92.1
%
 
2,432

 
9.84

 
Publix
 
Bed Bath & Beyond, Goody’s, PetSmart, Ross Dress for Less
 
 

Page 55




428

 
Kimball Crossing
 
Kimball
 
TN
 
Chattanooga, TN-GA
 
2007
 
280,476

 
96.6
%
 
1,790

 
7.29

 
Walmart Supercenter
 
Goody's
 
Lowe's
429

 
Kingston Overlook
 
Knoxville
 
TN
 
Knoxville, TN
 
1996
 
122,536

 
56.4
%
 
719

 
10.90

 
 
Babies"R"Us, Michaels
 
 
430

 
Farrar Place
 
Manchester
 
TN
 
Tullahoma-Manchester, TN
 
1989
 
43,220

 
84.5
%
 
321

 
8.79

 
Food Lion
 
 
 
431

 
The Commons at Wolfcreek
 
Memphis
 
TN
 
Memphis, TN-MS-AR
 
2014
 
658,121

 
93.9
%
 
7,447

 
12.26

 
 
Academy Sports + Outdoors, Best Buy, Big Lots, hhgregg, Office Depot, PetSmart, Sports Authority, T.J.Maxx, Value City Furniture
 
Target, The Home Depot, Toys"R"Us
432

 
Georgetown Square
 
Murfreesboro
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
2003
 
104,117

 
88.0
%
 
961

 
10.49

 
Kroger
 
Aaron's
 
 
433

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

 
100.0
%
 
1,009

 
11.63

 
Kroger
 
 
Walgreens
434

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

 
98.5
%
 
1,247

 
6.94

 
Walmart Supercenter
 
Dollar Tree
 
 
435

 
Merchant's Central
 
Winchester
 
TN
 
Tullahoma-Manchester, TN
 
1997
 
208,123

 
95.8
%
 
1,201

 
6.02

 
Walmart Supercenter
 
Peebles
 
 
436

 
Palm Plaza
 
Aransas
 
TX
 
Corpus Christi, TX
 
2002
 
50,700

 
78.6
%
 
251

 
7.89

 
 
Bealls (Stage Stores), Family Dollar
 
 
437

 
Bardin Place Center
 
Arlington
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1993
 
309,488

 
77.5
%
 
2,775

 
11.56

 
 
Hemispheres
 
Hobby Lobby
438

 
Parmer Crossing
 
Austin
 
TX
 
Austin-Round Rock, TX
 
2004
 
168,112

 
62.9
%
 
1,133

 
10.72

 
 
Big Lots, Dollar Tree, Harbor Freight
 
Fry's Electronics
439

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

 
85.6
%
 
865

 
10.54

 
 
24 Hour Fitness
 
 
440

 
Cedar Bellaire
 
Bellaire
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1994
 
50,967

 
89.4
%
 
524

 
11.49

 
H-E-B
 
 
 
441

 
El Camino
 
Bellaire
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2008
 
71,575

 
98.4
%
 
585

 
8.30

 
El Ahorro Supermarket
 
Family Dollar, Hancock Fabrics
 
 
442

 
Brenham Four Corners
 
Brenham
 
TX
 
Brenham, TX
 
1997
 
114,571

 
100.0
%
 
947

 

 
H-E-B
 
 
 
443

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

 
100.0
%
 
309

 
6.10

 
 
99 Cents Only, Citi Trends, Dollar Floor Store, Firestone
 
 
444

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

 
91.2
%
 
939

 
15.33

 
Walmart Neighborhood Market
 
Tops Printing
 
 
445

 
Plantation Plaza
 
Clute
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1997
 
99,141

 
92.9
%
 
750

 
8.32

 
Kroger
 
Walgreens
 
 
446

 
Central Station
 
College Station
 
TX
 
College Station-Bryan, TX
 
2012
 
176,847

 
87.3
%
 
2,293

 
15.26

 
 
OfficeMax, Spec's Liquors
 
Kohl's
447

 
Rock Prairie Crossing
 
College Station
 
TX
 
College Station-Bryan, TX
 
2002
 
119,000

 
100.0
%
 
1,260

 
23.80

 
Kroger
 
CVS
 
 
448

 
Carmel Village
 
Corpus Christi
 
TX
 
Corpus Christi, TX
 
1993
 
85,633

 
75.2
%
 
590

 
9.16

 
 
Bay Area Dialysis, Bealls (Stage Stores), Tuesday Morning
 
 
449

 
Five Points
 
Corpus Christi
 
TX
 
Corpus Christi, TX
 
2014
 
276,593

 
84.5
%
 
2,752

 
11.99

 
 
Burke's, Hobby Lobby, Party City, Ross Dress for Less
 
 
450

 
Claremont Village
 
Dallas
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1976
 
67,305

 
94.6
%
 
481

 
7.68

 
Minyard Food Stores
 
Family Dollar
 
 
451

 
Jeff Davis
 
Dallas
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1975
 
69,562

 
75.4
%
 
470

 
8.97

 
Save-A-Lot (Supervalu)
 
Family Dollar, Mama Rosa
 
 
452

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

 
100.0
%
 
421

 
9.25

 
 
Big Lots, O'Reilly Auto Parts
 
 
453

 
Webb Royal
 
Dallas
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1992
 
108,545

 
93.3
%
 
855

 
8.84

 
Super Plaza
 
Family Dollar
 
 
454

 
Wynnewood Village
 
Dallas
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2006
 
443,681

 
88.7
%
 
3,900

 
10.11

 
Kroger
 
Fallas Paredes, Gen X Clothing, Ross Dress for Less
 
 
455

 
Parktown
 
Deer Park
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
121,388

 
94.8
%
 
919

 
8.00

 
Food Town
 
Burke's Outlet, Walgreens
 
 
456

 
Kenworthy Crossing
 
El Paso
 
TX
 
El Paso, TX
 
2003
 
74,393

 
96.4
%
 
701

 
9.77

 
Albertsons
 
 
 
457

 
Preston Ridge
 
Frisco
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2013
 
780,595

 
96.7
%
 
13,631

 
18.45

 
SuperTarget*
 
Best Buy, Big Lots, DSW, GattiTown, Marshalls, Old Navy, Ross Dress for Less, Sheplers, Stein Mart, T.J.Maxx
 
 
458

 
Forest Hills
 
Ft. Worth
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1968
 
69,651

 
100.0
%
 
368

 
5.29

 
Foodland Markets
 
Family Dollar, Hi Style Fashion
 
 
459

 
Ridglea Plaza
 
Ft. Worth
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1990
 
170,519

 
97.0
%
 
1,780

 
11.10

 
Tom Thumb (Safeway)
 
Stein Mart
 
 
460

 
Trinity Commons
 
Ft. Worth
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1998
 
197,423

 
100.0
%
 
3,692

 
18.70

 
Tom Thumb (Safeway)
 
DSW
 
 
461

 
Village Plaza
 
Garland
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2002
 
89,241

 
96.2
%
 
905

 
10.54

 
Truong Nguyen Grocer
 
 
 

Page 56




462

 
North Hills Village
 
Haltom City
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1998
 
43,299

 
96.1
%
 
301

 
7.23

 
Save-A-Lot
 
Dollar Tree, Rent-A-Center
 
 
463

 
Highland Village Town Center
 
Highland Village
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1996
 
99,341

 
96.8
%
 
1,025

 
10.67

 
Kroger
 
 
 
464

 
Bay Forest
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2004
 
71,667

 
100.0
%
 
754

 
10.52

 
Kroger
 
 
 
465

 
Beltway South
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1998
 
107,174

 
97.0
%
 
921

 
27.22

 
Kroger
 
 
 
466

 
Braes Heights
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2003
 
101,002

 
100.0
%
 
1,864

 
18.46

 
 
CVS, Imagination Toys, I W Marks Jewelers
 
 
467

 
Braes Link
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
38,997

 
97.9
%
 
620

 
16.24

 
 
Walgreens
 
 
468

 
Braes Oaks
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1992
 
45,067

 
89.1
%
 
386

 
9.62

 
H-E-B
 
 
 
469

 
Braesgate
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1997
 
91,382

 
98.3
%
 
569

 
6.33

 
Food Town
 
 
 
470

 
Broadway
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2006
 
74,942

 
100.0
%
 
731

 
10.17

 
El Ahorro Supermarket
 
Fallas Paredes, Melrose Fashions
 
 
471

 
Clear Lake Camino South
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2004
 
102,643

 
87.1
%
 
1,312

 
15.77

 
 
24 Hour Fitness, Hancock Fabrics, Mr. Gatti's Pizza, Spec's Liquors
 
 
472

 
Hearthstone Corners
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1998
 
208,147

 
97.6
%
 
1,825

 
8.99

 
Kroger
 
Big Lots, Stein Mart
 
 
473

 
Inwood Forest
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1997
 
77,553

 
96.5
%
 
761

 
10.19

 
Foodarama
 
 
 
474

 
Jester Village
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1988
 
64,285

 
75.1
%
 
466

 
9.65

 
H-E-B
 
 
 
475

 
Jones Plaza
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2000
 
111,206

 
83.7
%
 
1,115

 
12.19

 
 
24 Hour Fitness, Hancock Fabrics
 
 
476

 
Jones Square
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
155,503

 
98.6
%
 
1,209

 
8.00

 
 
Big Lots, Hobby Lobby
 
 
477

 
Maplewood Mall
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2004
 
94,871

 
99.4
%
 
759

 
8.05

 
Foodarama
 
Burke's Outlet
 
 
478

 
Merchants Park
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2009
 
244,373

 
99.4
%
 
3,058

 
12.59

 
Kroger
 
Big Lots, Petco, Ross Dress for Less
 
 
479

 
Northgate
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1972
 
40,244

 
100.0
%
 
296

 
7.34

 
 
Firestone, Lumber Liquidators, TitleMax
 
 
480

 
Northshore
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2001
 
230,779

 
93.3
%
 
2,543

 
11.99

 
Sellers Bros.
 
Conn's, Office Depot
 
 
481

 
Northtown Plaza
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1990
 
190,622

 
98.1
%
 
2,122

 
11.56

 
 
99 Cents Only, CVS, Fallas Paredes
 
 
482

 
Northwood
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1972
 
136,747

 
100.0
%
 
1,354

 
10.06

 
Food City
 
 
 
483

 
Orange Grove
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2005
 
189,201

 
100.0
%
 
1,837

 
10.37

 
 
24 Hour Fitness, FAMSA, Floor & Décor
 
 
484

 
Pinemont Shopping Center
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
73,577

 
92.9
%
 
857

 
13.44

 
 
Family Dollar, Houston Community College
 
 
485

 
Royal Oaks Village
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2001
 
145,229

 
95.5
%
 
2,960

 
21.33

 
H-E-B
 
 
 
486

 
Sharpstown Plaza
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2005
 
43,631

 
96.6
%
 
357

 
8.48

 
 
Family Thrift Center
 
 
487

 
Tanglewilde
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1998
 
84,185

 
100.0
%
 
965

 
12.73

 
 
Ace Hardware, Cavender's, Dollar Tree, Party City, Salon In The Park
 
 
488

 
Westheimer Commons
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2012
 
242,409

 
94.4
%
 
2,005

 
8.76

 
Fiesta Mart
 
Marshalls
 
 
489

 
Crossing at Fry Road
 
Katy
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2005
 
237,340

 
100.0
%
 
2,319

 
9.85

 
Kroger
 
Hobby Lobby, Palais Royal, Stein Mart
 
 
490

 
Washington Square
 
Kaufman
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1978
 
64,230

 
85.1
%
 
310

 
5.67

 
 
AutoZone, Bealls (Stage Stores), Family Dollar
 
 
491

 
Jefferson Park
 
Mount Pleasant
 
TX
 
Mount Pleasant, TX
 
2001
 
132,096

 
82.8
%
 
680

 
6.82

 
Super 1 Foods
 
Steeles
 
 
492

 
Winwood Town Center
 
Odessa
 
TX
 
Odessa, TX
 
2002
 
365,559

 
100.0
%
 
2,725

 
11.93

 
H-E-B
 
Hastings, Office Depot, Ross Dress for Less, Target
 
 
493

 
Crossroads Center
 
Pasadena
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1997
 
134,006

 
94.5
%
 
1,463

 
12.41

 
Kroger
 
Sears Hardware
 
 
494

 
Spencer Square
 
Pasadena
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1998
 
194,470

 
88.1
%
 
2,048

 
11.95

 
Kroger
 
Burke's Outlet
 
 
495

 
Pearland Plaza
 
Pearland
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1995
 
156,661

 
95.6
%
 
1,108

 
7.40

 
Kroger
 
Palais Royal
 
 

Page 57




496

 
Market Plaza
 
Plano
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2002
 
168,137

 
72.5
%
 
2,689

 
23.10

 
Central Market (H-E-B)
 
 
 
497

 
Preston Park
 
Plano
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1985
 
238,939

 
93.0
%
 
5,690

 
25.60

 
Tom Thumb (Safeway)
 
 
 
498

 
Northshore Plaza
 
Portland
 
TX
 
Corpus Christi, TX
 
2000
 
152,144

 
88.9
%
 
823

 
13.57

 
H-E-B
 
Bealls (Stage Stores)
 
Kmart
499

 
Klein Square
 
Spring
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
80,636

 
89.3
%
 
727

 
10.10

 
Food Town
 
Family Dollar, Unleashed (Petco)
 
 
500

 
Keegan's Meadow
 
Stafford
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
125,491

 
93.8
%
 
1,179

 
10.34

 
Randalls (Safeway)
 
Palais Royal
 
 
501

 
Texas City Bay
 
Texas City
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2005
 
223,152

 
100.0
%
 
1,956

 
8.80

 
Kroger
 
BP Engineering Facility
 
 
502

 
Windvale
 
The Woodlands
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2002
 
101,088

 
87.6
%
 
917

 
10.36

 
Randalls (Safeway)
 
 
 
503

 
The Centre at Navarro
 
Victoria
 
TX
 
Victoria, TX
 
2005
 
47,960

 
100.0
%
 
727

 
15.16

 
 
Hastings, Walgreens
 
 
504

 
Spradlin Farm
 
Christiansburg
 
VA
 
Blacksburg-Christiansburg-Radford, VA
 
2000
 
180,220

 
97.7
%
 
2,407

 
13.90

 
 
Barnes & Noble, Big Lots, Michaels, T.J.Maxx
 
Target, The Home Depot
505

 
Culpeper Town Square
 
Culpeper
 
VA
 
Washington-Arlington-Alexandria, DC-VA-MD-WV
1999
 
132,882

 
100.0
%
 
1,134

 
8.54

 
Food Lion
 
Mountain Run Bowling, Tractor Supply Co.
 
 
506

 
Hanover Square
 
Mechanicsville
 
VA
 
Richmond, VA
 
1991
 
129,887

 
95.2
%
 
1,530

 
12.38

 
Martin's Food (Ahold)
 
Gold's Gym
 
Kohl's
507

 
Jefferson Green
 
Newport News
 
VA
 
Virginia Beach-Norfolk-Newport News, VA-NC
1988
 
54,934

 
98.6
%
 
769

 
14.21

 
 
Destination XL, Once Upon a Child, Tuesday Morning
 
 
508

 
Tuckernuck Square
 
Richmond
 
VA
 
Richmond, VA
 
1994
 
86,010

 
93.0
%
 
1,021

 
12.76

 
 
Chuck E. Cheese's
 
 
509

 
Cave Spring Corners
 
Roanoke
 
VA
 
Roanoke, VA
 
2005
 
147,133

 
97.1
%
 
1,019

 
12.12

 
Kroger
 
Hamrick's
 
 
510

 
Hunting Hills
 
Roanoke
 
VA
 
Roanoke, VA
 
2014
 
166,207

 
92.3
%
 
1,039

 
6.78

 
 
Kohl's, PetSmart
 
 
511

 
Valley Commons
 
Salem
 
VA
 
Roanoke, VA
 
1988
 
45,580

 
84.2
%
 
285

 
7.43

 
Food Lion
 
 
 
512

 
Lake Drive Plaza
 
Vinton
 
VA
 
Roanoke, VA
 
2008
 
163,090

 
100.0
%
 
1,175

 
7.21

 
Kroger
 
Big Lots, Goodwill
 
 
513

 
Hilltop Plaza
 
Virginia Beach
 
VA
 
Virginia Beach-Norfolk-Newport News, VA-NC
2010
 
150,300

 
100.0
%
 
2,467

 
16.58

 
Trader Joe's
 
Jo-Ann Fabric & Craft Stores, Kirkland’s, Office Depot, PetSmart
 
 
514

 
Ridgeview Centre
 
Wise
 
VA
 
 
2005
 
190,242

 
86.8
%
 
1,118

 
14.20

 
 
Grand Home Furnishings, Kmart
 
Belk
515

 
Rutland Plaza
 
Rutland
 
VT
 
Rutland, VT
 
1997
 
224,514

 
99.1
%
 
1,914

 
8.60

 
Price Chopper
 
T.J.Maxx, Walmart
 
 
516

 
Fitchburg Ridge Shopping Ctr
 
Fitchburg
 
WI
 
Madison, WI
 
2003
 
50,555

 
87.6
%
 
493

 
11.17

 
 
Wisconsin Dialysis
 
 
517

 
Spring Mall
 
Greenfield
 
WI
 
Milwaukee-Waukesha-West Allis, WI
 
2003
 
188,861

 
95.8
%
 
1,491

 
8.24

 
 
T.J.Maxx
 
 
518

 
Mequon Pavilions
 
Mequon
 
WI
 
Milwaukee-Waukesha-West Allis, WI
 
2014
 
218,116

 
84.8
%
 
2,889

 
15.62

 
Sendik's Food Market
 
Bed Bath & Beyond
 
 
519

 
Moorland Square Shopping Ctr
 
New Berlin
 
WI
 
Milwaukee-Waukesha-West Allis, WI
 
1990
 
98,303

 
100.0
%
 
949

 
9.65

 
Pick 'n Save (Roundy's)
 
 
Walmart
520

 
Paradise Pavilion
 
West Bend
 
WI
 
Milwaukee-Waukesha-West Allis, WI
 
2000
 
209,249

 
90.7
%
 
1,355

 
7.13

 
 
Hobby Lobby, Kohl's
 
ShopKo
521

 
Moundsville Plaza
 
Moundsville
 
WV
 
Wheeling, WV-OH
 
2004
 
176,156

 
97.7
%
 
1,250

 
7.26

 
Kroger
 
Big Lots
 
 
522

 
Grand Central Plaza
 
Parkersburg
 
WV
 
Parkersburg-Vienna, WV
 
1986
 
75,344

 
90.7
%
 
717

 
10.48

 
 
Office Depot, T.J.Maxx
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL PORTFOLIO
 
 
 
 
 
 
 
 
 
86,718,016

 
92.3
%
 
$
898,962

 
$
12.01

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) * Indicates grocer is not owned.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 



Page 58





 
 
 
 
 
 
Guidance

Supplemental Disclosure
Three Months Ended March 31, 2014
 







Brixmor Property Group
 
 
 
 
 
 
 
 
Supplemental Disclosure - Three Months Ended March 31, 2014
 
 
 
 
 
 
 
 
Guidance & Additional Disclosures
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
GUIDANCE:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2014E
 
 
 
 
 
 
 
 
 
FFO per common share - diluted
$1.80 - $1.84

 
 
 
 
 
 
 
 
 
Same property NOI
 3.7 - 4.1%

 
 
 
 
 
 
 
 
 
Percent leased (at year-end)
 93.0 - 93.5%

 
 
 
 
 
 
 
 
 
Leasing related capital expenditures, including anchor space repositioning and redevelopment
 $130 - $140M

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ADDITIONAL DISCLOSURES - as of 3/31/14
 
 
 
 
 
 
 
 
 
 
Estimated market value of expansion land and outparcels available
 $17M

 
 
 
 
 
 
 
 
 
ABR from leases signed but not yet commenced
 $24M

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Leases signed but not yet commenced:
Leases
 
GLA
 
ABR
 
ABR/SF
 
 
 
 
≥ 10,000 SF
41

 
1,094,441

 
$
10,555,590

 
$
9.64

 
 
 
 
< 10,000 SF
232

 
716,507

 
13,728,106

 
19.16

 
 
 
 
TOTAL
273

 
1,810,948

 
$
24,283,696

 
$
13.41

 
 
 
 
 
 
 
 
 
 
 
 
 
 


Page 60