EX-99.2 3 brx8k10242016ex992.htm EX 99.2 Exhibit
Exhibit 99.2


supplementaldisclosurecovera.jpg



 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SUPPLEMENTAL DISCLOSURE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended September 30, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





TABLE OF CONTENTS
 
 
 
 
 
 
 
 
 
 
 
 
Page
 
 
 
Glossary of Terms
1
 
 
 
Results Overview
3
 
 
 
Financial Summary
 
 
 
 
 
Consolidated Balance Sheets
5
 
 
 
 
Consolidated Statements of Operations
6
 
 
 
 
EBITDA
7
 
 
 
 
Funds From Operations (FFO)
8
 
 
 
 
Supplemental Balance Sheet Detail
9
 
 
 
 
NOI Detail, Operating Ratios, Supplemental Statement of Operations Detail and Additional Disclosures
10
 
 
 
 
Same Property NOI Analysis
11
 
 
 
 
Capital Expenditures
12
 
 
 
 
Capitalization, Liquidity & Debt Ratios
13
 
 
 
 
Debt Overview
14
 
 
 
 
Summary of Outstanding Debt
15
 
 
 
 
Unsecured OP Notes Covenant Disclosure
17
 
 
 
 
Unsecured Credit Facility Covenant Disclosure
18
 
 
 
Investment Summary
 
 
 
 
 
Acquisitions
20
 
 
 
 
Dispositions
21
 
 
 
 
Anchor Space Repositioning Summary
22
 
 
 
 
Outparcel Development & New Development Summary
24
 
 
 
 
Redevelopment Summary
25
 
 
 
 
Future Redevelopment Opportunities
26
 
 
 
Portfolio Summary
 
 
 
 
 
Portfolio Overview
28
 
 
 
 
Top Forty Retailers Ranked by ABR
29
 
 
 
 
New & Renewal Lease Summary
30
 
 
 
 
New Lease Net Effective Rent
31
 
 
 
 
Lease Expiration Schedule
32
 
 
 
 
Properties by Largest US MSAs
33
 
 
 
 
Largest MSAs by ABR
35
 
 
 
 
Properties by State
38
 
 
 
 
Property List
39
 
 
 
Guidance
 
 
 
 
 
Guidance & Additional Disclosures
51
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Note: Financial information is unaudited.
 
 
 
 
 
 
 
 
 
For additional information, please visit www.brixmor.com, follow Brixmor on Twitter at www.twitter.com/Brixmor or find Brixmor on LinkedIn at www.linkedin.com/company/brixmor.
 
 
 
 
 
 
 
 
This Supplemental Disclosure may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to the Company’s expectations regarding the performance of its business, its financial results, its liquidity and capital resources and other non-historical statements. You can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including those described under the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this document and in the Company’s filings with the SEC. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
 
 
 
 
 
 
 
 
 
 
 



Supplemental Disclosure - Three Months Ended September 30, 2016

 
jpgstandardlogoa16.jpg




GLOSSARY OF TERMS
 
 
 
 
 
 
 
Term
 
Definition
 
 
 
 
 
 
 
Anchor Spaces
 
Spaces equal to or greater than 10,000 SF 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, 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 generally accepted accounting principles in the United States of America (“GAAP”)
 
 
 
 
for purposes of financial statements and (iv) does not include any ancillary income.
 
 
 
 
 
 
 
ABR per SF or "ABR/SF"
 
ABR divided by leased GLA, excluding the GLA of lessee owned leasehold improvements.
 
 
 
 
 
 
 
Billed GLA
 
Aggregate GLA for spaces where the tenant has commenced the payment of rent.
 
 
 
 
 
 
 
Development Stabilization
 
Development projects are deemed stabilized upon the earlier of (i) percent billed reaching 90% or (ii) one year following the property being placed
 
 
 
 
in service.
 
 
 
 
 
 
 
EBITDA, Adjusted EBITDA & Cash Adjusted EBITDA
 
EBITDA, Adjusted EBITDA & Cash Adjusted EBITDA are supplemental, non-GAAP performance measures. Please see below for more information on the
 
 
 
limitations of non-GAAP performance measures. A reconciliation of EBITDA to net income is provided herein.
 
 
 
 
EBITDA is calculated as the sum of net income (loss) in accordance with GAAP before interest expense, federal and state taxes, and depreciation and
 
 
 
 
amortization. Adjusted EBITDA represents EBITDA as adjusted for (i) transaction expenses, (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) other items that are not indicative of the Company's operating performance. Cash Adjusted EBITDA represents Adjusted
 
 
 
 
EBITDA adjusted for straight-line rental income, amortization of above- and below-market rent and tenant inducements and straight-line ground
 
 
 
 
rent expense. EBITDA, Adjusted EBITDA & Cash Adjusted EBITDA include unconsolidated joint venture, Montecito Marketplace, at pro rata share.
 
 
 
 
 
 
 
Gross Leasable Area or "GLA"
 
Represents the total amount of property square footage that can generate income by being leased to tenants.
 
 
 
 
 
 
 
Leased GLA
 
Aggregate GLA of all leases executed as of a given date, including those which the tenant has not yet opened for business and/or has not yet
 
 
 
 
commenced the payment of rent.
 
 
 
 
 
 
 
LIBOR
 
London Interbank Offered Rate.
 
 
 
 
 
 
 
Metropolitan Statistical Area or "MSA"
Defined by the United States Office of Management and Budget as a region associated with at least one urbanized area that has a population of at
 
 
 
 
least 50,000 and comprises the central county or counties containing the core, plus adjacent outlying counties having a high degree of social and
 
 
 
 
economic integration with the central county or counties as measured through commuting.
 
 
 
 
 
 
 
NAREIT
 
National Association of Real Estate Investment Trusts.
 
 
 
 
 
 
 
NAREIT Funds From Operations (“FFO")
NAREIT FFO is a supplemental, non-GAAP performance measure. Please see below for more information on the limitations of non-GAAP performance
 
 
 
 
measures. A reconciliation of NAREIT FFO to net income is provided herein.
 
 
 
 
NAREIT defines FFO as 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, and
 
 
 
 
(v) after adjustments for joint ventures calculated to reflect funds from operations on the same basis.
 
 
 
 
 
 
 
Net Effective Rent
 
Average annualized base rent over the lease term adjusted for tenant incentive / allowance, tenant specific landlord work, third party leasing
 
 
 
 
commissions and rent concessions
 
 
 
 
 
 
 
Net Operating Income or "NOI"
 
NOI is a supplemental, non-GAAP performance measure. Please see below for more information on the limitations of non-GAAP performance measures.
 
 
 
 
A reconciliation of NOI to net income is provided herein.
 
 
 
 
Calculated as total property revenues in accordance with GAAP (base rent, ancillary and other, expense reimbursements, and percentage rents) less
 
 
 
 
direct property operating expenses (operating costs, real estate taxes and provision for doubtful accounts). NOI excludes corporate level income
 
 
 
 
(including management, transaction, and other fees), lease termination fees, straight-line rental income, amortization of above- and below-market rent
 
 
 
 
and tenant inducements, straight-line ground rent expense and the Company's unconsolidated joint venture, Montecito Marketplace at pro rata share.
 
 
 
 
 
 
 
NOI Yield
 
Calculated as projected incremental NOI over the third party costs of a given project.
 
 
 
 
 
 
 
Non-controlling Interests
 
Relate to the portion of Brixmor Operating Partnership LP ("OP”), a consolidated subsidiary, held by the non-controlling interest holders. As of September
 
 
 
 
30, 2016, the Company, through its 100% ownership of BPG Subsidiary, Inc., owns 99.88% of the OP. The remaining 0.12% is held by the Parent
 
 
 
 
Company’s current and former management.
 
 
 
 
 
 
 
Non-owned Major Tenant
 
Also known as 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 a shopping center, appear to the consumer as another retail tenant of the shopping center and, as a result, attract additional
 
 
 
 
customer traffic to the center.
 
 
 
 
 
 
 
Percent Billed
 
Refers to the percentage of GLA with tenants currently paying rent.
 
 
 
 
 
 
 
Percent Leased
 
Refers to the percentage of GLA leased, including the aggregate GLA of all leases executed as of a given date, including those which the tenant has
 
 
 
 
not yet opened for business and/or has not yet commenced the payment of rent.
 
 
 
 
 
 
 
PSF
 
Per square foot of GLA.
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2016
Page 1
jpgstandardlogoa16.jpg




 
Redevelopment Properties
 
Larger scale projects that typically involve new construction, reconfiguration or demolition of a portion of the shopping center to accommodate
 
 
 
 
new retailers.
 
 
 
 
 
 
 
Rent Spread
 
Represents percentage change in cash ABR/SF in the first year of the new lease relative to cash ABR/SF in the last year of the old lease. Rent spreads
 
 
 
 
are presented only for leases deemed comparable. Non-comparable leases include new leases signed on units that have been vacant for longer than
 
 
 
 
12 months and leases signed on first generation space.
 
 
 
 
 
 
 
Renewal Rent Spread
 
Includes leases renewed with the same tenant in the same location to extend the term of expiring leases.
 
 
 
 
 
 
 
Option Rent Spread
 
Includes renewal options exercised by tenants in the same location to extend the term of expiring leases.
 
 
 
 
 
 
 
Total Rent Spread
 
Combined spreads for new, renewal and option leases.
 
 
 
 
 
 
 
Same Property Net Operating Income
 
Same property NOI is a supplemental, non-GAAP performance measure. Please see below for more information on the limitations of non-GAAP
 
 
or Same Property NOI
 
performance measures. A reconciliation of same property NOI to net income is provided herein.
 
 
 
 
Calculated (using properties owned for the entirety of both periods excluding properties under development or pending stabilization), as rental income
 
 
 
 
(base rent, percentage rents, expense reimbursements and other property income) less rental operating expenses (operating costs, real estate taxes and
 
 
 
 
provision for doubtful accounts). Same property NOI includes unconsolidated joint venture, Montecito Marketplace, at pro rata share. Same property
 
 
 
 
NOI excludes corporate level income (including management, transaction and other fees), lease termination fees, straight-line rental income,
 
 
 
 
amortization of above- and below-market rent and tenant inducements, straight-line ground rent expense and income / expense associated with
 
 
 
 
the captive insurance entity.
 
 
 
 
 
 
 
Small Shop Spaces
 
Spaces of less than 10,000 SF of GLA.
 
 
 
 
 
 
 
Straight-line Rent
 
Non-cash revenue related to GAAP requirement to average the tenant's contractual rent payments over the life of the lease, regardless of the actual
 
 
 
 
cash collected in the period.
 
 
 
 
 
 
 
Year Built
 
Year of most recent anchor space repositioning / redevelopment or year built if no anchor space repositioning or re/development has occurred.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-GAAP Performance Measures
 
 
 
 
 
 
 
The Company's non-GAAP performance measures have limitations as they do not include all items of income and expense that affect operations, and accordingly, should always be considered
 
 
as supplemental financial results presented in accordance with GAAP.
 
 
Non-GAAP performance measures should not be considered as alternatives to or more meaningful than net income (determined in accordance with GAAP) or other GAAP financial measures, 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.
 
 
Computation of non-GAAP performance measures may differ in certain respects from the methodology utilized by other REITs and, therefore, may not be comparable to similarly titled measures
 
 
presented by such other REITs. Investors are cautioned that items excluded from non-GAAP performance measures are significant components in understanding and addressing financial
 
 
performance.
 
 
 
 
 
 
 
 
 
The Company believes that the non-GAAP measures it presents are useful to investors for the following reasons:
 
 
  • NAREIT FFO
 
NAREIT FFO assists investors in analyzing Brixmor’s comparative operating and financial performance because, by excluding gains and losses related
 
 
 
 
to dispositions of previously depreciated operating properties, real estate-related depreciation and amortization of continuing operations and
 
 
 
 
unconsolidated joint ventures and impairment of operating properties (which can vary among owners of properties in similar condition based on historical
 
 
 
 
cost accounting and useful life estimates), investors can compare the operating performance of a company’s real estate between periods or as
 
 
 
 
compared to different companies.
 
 
 
 
 
 
 
  • EBITDA, Adjusted EBITDA & Cash
       Adjusted EBITDA
 
EBITDA, Adjusted EBITDA & Cash Adjusted EBITDA are utilized in various financial ratios as a measure of Brixmor's operational performance because EBITDA,
 
 
 
Adjusted EBITDA & Cash Adjusted EBITDA exclude various items that do not relate to or are not indicative of its operating performance. Accordingly,
 
 
 
 
the use of EBITDA, Adjusted EBITDA & Cash 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.
 
 
 
 
 
 
 
  • Same Property NOI
 
Same property NOI includes only the net operating income of properties owned and stabilized for the full period presented, which eliminates disparities in
 
 
 
 
net income due to the acquisition, disposition or stabilization of development 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.
 
 
 
 
 
 
 
In addition, the Company presents these supplemental non-GAAP performance measures because the Company believes that these measures are helpful to and frequently used by securities
 
 
analysts, investors and other interested parties in the evaluation of REITs.
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2016
Page 2
jpgstandardlogoa16.jpg


RESULTS OVERVIEW
 
 
 
 
 
 
 
 
 
 
Unaudited, dollars in thousands except per share and per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
Summary Financial Results
 
9/30/16
 
9/30/15
 
9/30/16
 
9/30/2015
 
 
 
 
Total revenues (page 6)
 
$
318,577

 
$
313,025

 
$
951,738

 
$
940,429

 
 
 
 
Net income attributable to common stockholders (page 6)
 
57,492

 
53,773

 
182,425

 
138,308

 
 
 
 
Net income attributable to common stockholders - per diluted share (page 6)
 
0.19

 
0.18

 
0.61

 
0.46

 
 
 
 
Adjusted EBITDA (page 7)
 
216,453

 
215,596

 
654,503

 
644,567

 
 
 
 
Cash adjusted EBITDA (page 7)
 
204,117

 
201,139

 
616,874

 
596,328

 
 
 
 
NAREIT FFO (page 8)
 
154,919

 
156,195

 
468,926

 
444,401

 
 
 
 
NAREIT FFO per share/OP Unit - diluted (page 8)
 
0.51

 
0.51

 
1.54

 
1.46

 
 
 
 
 
Items that impact FFO comparability, net per share (page 8)
 
(0.01
)
 
0.01

 
(0.03
)
 
(0.02
)
 
 
 
 
Dividends declared per share/OP Unit (page 8)
 
0.245

 
0.225

 
0.735

 
0.675

 
 
 
 
Share/OP Unit dividend payout ratio (as % of NAREIT FFO) (page 8)
 
48.2
%
 
43.8
%
 
47.8
%
 
46.2
%
 
 
 
 
NOI (page 10)
 
223,796

 
221,287

 
670,772

 
654,173

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Summary Operating and Financial Ratios
 
9/30/16
 
6/30/16
 
3/31/16
 
12/31/15
 
9/30/15
 
 
NOI margin (page 10)
 
73.4
%
 
76.1
%
 
72.9
%
 
72.1
%
 
74.6
%
 
 
Same property NOI (page 11) (1) (2)
 
2.0
%
 
3.5
%
 
2.8
%
 
n/a

 
3.6
%
 
 
Fixed charge coverage (page 13)
 
3.4x

 
3.5x

 
3.6x

 
3.3x

 
3.1x

 
 
Net principal debt to adjusted EBITDA (GAAP) (page 13)
 
6.7x

 
6.7x

 
6.6x

 
6.7x

 
6.8x

 
 
Net principal debt to adjusted EBITDA (cash) (page 13)
 
7.1x

 
7.1x

 
7.0x

 
7.3x

 
7.3x

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding Classes of Stock and Partnership Units
 
At 9/30/16
 
At 6/30/16
 
At 3/31/16
 
At 12/31/15
 
At 9/30/15
 
 
Common shares outstanding (page 13)
 
304,321

 
301,099

 
299,248

 
299,138

 
298,489

 
 
Exchangeable OP Units held by non-controlling interests (page 13)
 
378

 
3,593

 
5,354

 
5,182

 
5,798

 
 
Total
 
304,699

 
304,692

 
304,602

 
304,320

 
304,287

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Summary Portfolio Statistics (3)
 
At 9/30/16
 
At 6/30/16
 
At 3/31/16
 
At 12/31/15
 
At 9/30/15
 
 
Number of properties (page 28)
 
514

 
516

 
518

 
518

 
519

 
 
Percent billed (page 28)
 
90.6
%
 
90.6
%
 
90.4
%
 
91.0
%
 
90.9
%
 
 
Percent leased (page 28)
 
92.6
%
 
92.8
%
 
92.4
%
 
92.6
%
 
92.6
%
 
 
ABR / SF (page 28)
 
$
12.90

 
$
12.85

 
$
12.85

 
$
12.76

 
$
12.68

 
 
Total - new, renewal & option rent spread (page 27)
 
10.9
%
 
12.1
%
 
10.9
%
 
14.8
%
 
15.2
%
 
 
New & renewal rent spread (page 27)
 
14.7
%
 
15.6
%
 
16.3
%
 
18.4
%
 
22.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) The Company did not report same property NOI for the quarter ended December 31, 2015. Same property NOI for the twelve months ended December 31, 2015 was 3.2%. The information
presented for quarter ended September 30, 2015 is as originally reported by the Company. As disclosed by the Company on February 8, 2016, in connection with an Audit Committee review,
a forensic accounting firm assisting the Audit Committee determined that the quarterly same property NOI percentage for September 30, 2015 was 3.3%.
 
 
 
(2) Includes unconsolidated joint venture, Montecito Marketplace, at pro rata share.
 
 
 
 
 
 
 
 
 
 
(3) Includes unconsolidated joint venture, Montecito Marketplace, at 100%.
 
 
 
 
 
 
 
 
 
 






Supplemental Disclosure - Three Months Ended September 30, 2016
Page 3
jpgstandardlogoa16.jpg




 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FINANCIAL SUMMARY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure
Three Months Ended September 30, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





CONSOLIDATED BALANCE SHEETS
 
 
 
 
Unaudited, dollars in thousands, except share information
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
9/30/16
 
12/31/15
 
 
Assets
 
 
 
 
 
 
Real estate
 
 
 
 
 
 
 
Land
$
2,004,264

 
$
2,011,947

 
 
 
 
Buildings and tenant improvements
8,012,060

 
7,976,529

 
 
 
 
Construction in process
98,573

 
66,797

 
 
 
 
Lease intangibles
845,093

 
877,577

 
 
 
 
 
 
10,959,990

 
10,932,850

 
 
 
 
Accumulated depreciation and amortization
(2,100,229
)
 
(1,880,685
)
 
 
 
Real estate, net
8,859,761

 
9,052,165

 
 
 
Investments in and advances to unconsolidated joint ventures
5,044

 
5,019

 
 
 
Cash and cash equivalents
31,143

 
69,528

 
 
 
Restricted cash
45,662

 
41,462

 
 
 
Marketable securities
26,580

 
23,001

 
 
 
Receivables, net of allowance for doubtful accounts of $17,831 and $16,587
176,086

 
180,486

 
 
 
Deferred charges and prepaid expenses, net
127,201

 
109,149

 
 
 
Other assets
41,232

 
17,197

 
 
Total assets
$
9,312,709

 
$
9,498,007

 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
Debt obligations, net
$
5,857,431

 
$
5,974,266

 
 
 
Accounts payable, accrued expenses and other liabilities
566,744

 
603,439

 
 
Total liabilities
6,424,175

 
6,577,705

 
 
 
 
 
 
 
 
 
 
 
Equity
 
 
 
 
 
 
Common stock, $0.01 par value; authorized 3,000,000,000 shares;
 
 
 
 
 
 
 
304,321,127 and 299,138,450 shares outstanding
3,043

 
2,991

 
 
 
Additional paid in capital
3,321,475

 
3,270,246

 
 
 
Accumulated other comprehensive loss
(15
)
 
(2,509
)
 
 
 
Distributions in excess of net income
(440,348
)
 
(400,945
)
 
 
Total stockholders' equity
2,884,155

 
2,869,783

 
 
 
Non-controlling interests
4,379

 
50,519

 
 
Total equity
2,888,534

 
2,920,302

 
 
Total liabilities and equity
$
9,312,709

 
$
9,498,007

 



Supplemental Disclosure - Three Months Ended September 30, 2016
Page 5
jpgstandardlogoa16.jpg




CONSOLIDATED STATEMENTS OF OPERATIONS
Unaudited, dollars in thousands, except per share amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
 
 
9/30/16
 
9/30/15
 
9/30/16
 
9/30/15
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
Rental income
$
247,859

 
$
245,829

 
$
744,580

 
$
733,429

 
 
Expense reimbursements
69,469

 
65,304

 
200,944

 
200,570

 
 
Other revenues
1,249

 
1,892

 
6,214

 
6,430

 
Total revenues
318,577

 
313,025

 
951,738

 
940,429

 
 
 
 
 
 
 
 
 
 
 
 
 
Operating expenses
 
 
 
 
 
 
 
 
 
Operating costs
31,041

 
27,952

 
97,507

 
93,779

 
 
Real estate taxes
47,812

 
45,472

 
130,886

 
133,635

 
 
Depreciation and amortization
98,337

 
102,439

 
294,634

 
315,424

 
 
Provision for doubtful accounts
2,218

 
1,953

 
6,579

 
6,973

 
 
Impairment of real estate assets
1,971

 

 
1,971

 
807

 
 
General and administrative
21,787

 
22,030

 
69,709

 
73,030

 
Total operating expenses
203,166

 
199,846

 
601,286

 
623,648

 
 
 
 
 
 
 
 
 
 
 
 
 
Other income (expense)
 
 
 
 
 
 
 
 
 
Dividends and interest
89

 
57

 
481

 
241

 
 
Interest expense
(57,855
)
 
(61,567
)
 
(171,482
)
 
(186,289
)
 
 
Gain on sale of real estate assets
2,450

 

 
10,232

 
9,224

 
 
Gain (loss) on extinguishment of debt, net
(1,042
)
 
137

 
(949
)
 
922

 
 
Other
(1,370
)
 
2,880

 
(4,258
)
 
(115
)
 
Total other expense
(57,728
)
 
(58,493
)
 
(165,976
)
 
(176,017
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Income before equity in income of unconsolidated joint ventures
57,683

 
54,686

 
184,476

 
140,764

 
Equity in income of unconsolidated joint ventures
122

 
133

 
348

 
358

 
Net income
57,805

 
54,819

 
184,824

 
141,122

 
Net (income) attributable to non-controlling interests
(313
)
 
(1,046
)
 
(2,399
)
 
(2,814
)
 
Net income attributable to common stockholders
$
57,492

 
$
53,773

 
$
182,425

 
$
138,308

 
 
 
 
 
 
 
 
 
 
 
 
 
Per common share:
 
 
 
 
 
 
 
 
 
Net income attributable to common stockholders:
 
 
 
 
 
 
 
 
 
 
Basic
$
0.19

 
$
0.18

 
$
0.61

 
$
0.46

 
 
 
Diluted
$
0.19

 
$
0.18

 
$
0.61

 
$
0.46

 
 
Weighted average shares:
 
 
 
 
 
 
 
 
 
 
Basic
303,013

 
298,464

 
300,697

 
297,714

 
 
 
Diluted
               303,521

 
              298,936

 
                301,146

 
              304,706




Supplemental Disclosure - Three Months Ended September 30, 2016
Page 6
jpgstandardlogoa16.jpg




EBITDA
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
 
 
9/30/16
 
9/30/15
 
9/30/16
 
9/30/15
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income
$
57,805

 
$
54,819

 
$
184,824

 
$
141,122

 
 
Interest expense - continuing operations
57,855

 
61,567

 
171,482

 
186,289

 
 
Interest expense - unconsolidated joint ventures
42

 
43

 
126

 
129

 
 
Federal and state taxes
815

 
(3,151
)
 
2,604

 
(1,085
)
 
 
Depreciation and amortization - continuing operations
98,337

 
102,439

 
294,634

 
315,424

 
 
Depreciation and amortization - unconsolidated joint ventures
23

 
16

 
68

 
59

 
EBITDA
$
214,877

 
$
215,733

 
$
653,738

 
$
641,938

 
 
 
 
 
 
 
 
 
 
 
 
 
EBITDA
$
214,877

 
$
215,733

 
$
653,738

 
$
641,938

 
 
Gain on disposition of operating properties
(2,450
)
 

 
(10,232
)
 
(9,224
)
 
 
(Gain) loss on extinguishment of debt, net
1,042

 
(137
)
 
949

 
(922
)
 
 
Impairment of real estate assets
1,971

 

 
1,971

 
807

 
 
Litigation and other non-routine legal expenses
614

 

 
958

 

 
 
Shareholder equity offering expenses
314

 

 
764

 
606

 
 
Transaction expenses
85



 
296


1,487

 
 
Executive equity based compensation (1)

 

 
88

 

 
 
Executive severance expenses

 

 
2,260

 

 
 
Audit committee review expenses

 

 
3,711

 

 
 
Non-recurring charge related to pre-IPO compensation programs

 

 

 
9,875

 
 
Total adjustments
1,576

 
(137
)
 
765

 
2,629

 
Adjusted EBITDA
216,453

 
215,596

 
654,503

 
644,567

 
 
Straight-line rental income, net (2)
(3,324
)
 
(4,508
)
 
(9,838
)
 
(13,814
)
 
 
Amortization of above- and below-market rent and tenant inducements, net (3)
(9,090
)
 
(9,938
)
 
(28,766
)
 
(34,391
)
 
 
Straight-line ground rent expense (income) (4)
78

 
(11
)
 
975

 
(34
)
 
 
Total adjustments
(12,336
)
 
(14,457
)
 
(37,629
)
 
(48,239
)
 
Cash adjusted EBITDA
$
204,117

 
$
201,139

 
$
616,874

 
$
596,328

 
 
 
 
 
 
 
 
 
 
 
 
(1) Represents equity based compensation expense associated with executive departures for the nine months ended September 30, 2016.
 
 
 
 
(2) Includes unconsolidated joint venture Montecito Marketplace straight-line rental income of $10 and $5 at pro rata share for the three and nine months ended September 30, 2016,
respectively; and straight-line rental expense of $5 and $8 at pro rata share for the three and nine months ended September 30, 2015, respectively.
 
 
 
 
(3) Includes unconsolidated joint venture Montecito Marketplace amortization of above- and below-market rent and tenant inducements of $7 and $22 at pro rata share for the three and nine
months ended September 30, 2016, respectively; and $8 and $24 at pro rata share for the three and nine months ended September 30, 2015, respectively.
 
 
 
(4) Straight-line ground rent expense (income) is included in Operating costs on the Consolidated Statements of Operations.
 
 
 
 
 




Supplemental Disclosure - Three Months Ended September 30, 2016
Page 7
jpgstandardlogoa16.jpg




FUNDS FROM OPERATIONS (FFO)
Unaudited, dollars in thousands, except per share amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
 
 
9/30/16
 
9/30/15
 
9/30/16
 
9/30/15
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income
$
57,805

 
$
54,819

 
$
184,824

 
$
141,122

 
 
Gain on disposition of operating properties
(2,450
)
 

 
(10,232
)
 
(9,224
)
 
 
Depreciation and amortization- real estate related- continuing operations
97,570

 
101,360

 
292,295

 
311,637

 
 
Depreciation and amortization- real estate related- unconsolidated joint ventures
23

 
16

 
68

 
59

 
 
Impairment of real estate assets
1,971

 

 
1,971

 
807

 
NAREIT FFO
$
154,919

 
$
156,195

 
$
468,926

 
$
444,401

 
 
 
 
 
 
 
 
 
 
 
 
 
NAREIT FFO per share/OP Unit - diluted
$
0.51

 
$
0.51

 
$
1.54

 
$
1.46

 
Weighted average shares/OP Units outstanding - basic and diluted (1)
305,167

 
304,752

 
305,026

 
304,716

 
 
 
 
 
 
 
 
 
 
 
 
 
Items that impact FFO comparability
 
 
 
 
 
 
 
 
 
Litigation and other non-routine legal expenses
$
(614
)
 
$

 
$
(958
)
 
$

 
 
Shareholder equity offering expenses
(314
)
 

 
(764
)
 
(606
)
 
 
Transaction expenses
(85
)


 
(296
)
 
(1,487
)
 
 
Executive equity based compensation (2)

 

 
(88
)
 

 
 
Executive severance expenses

 

 
(2,260
)
 

 
 
Audit committee review expenses

 

 
(3,711
)
 

 
 
Non-recurring charge related to pre-IPO compensation programs

 

 

 
(9,875
)
 
 
Adjustment of tax reserves for pre-IPO transactions

 
3,949

 

 
3,949

 
 
Gain (loss) on extinguishment of debt, net
(1,042
)
 
137

 
(949
)
 
922

 
Total items that impact FFO comparability
$
(2,055
)
 
$
4,086

 
$
(9,026
)
 
$
(7,097
)
 
Items that impact FFO comparability, net per share
$
(0.01
)
 
$
0.01

 
$
(0.03
)
 
$
(0.02
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Additional Disclosures
 
 
 
 
 
 
 
 
 
Straight-line rental income, net (3)
$
3,324

 
$
4,508

 
$
9,838

 
$
13,814

 
 
Amortization of above- and below-market rent and tenant inducements, net (4)
9,090

 
9,938

 
28,766

 
34,391

 
 
Straight-line ground rent (expense) income (5)
(78
)
 
11

 
(975
)
 
34

 
 
 
 
 
 
 
 
 
 
 
 
 
Dividends declared per share/OP Unit
$
0.245

 
$
0.225

 
$
0.735

 
$
0.675

 
Shares/OP Unit dividends declared
$
74,651

 
$
68,464

 
$
223,932

 
$
205,398

 
Share/OP Unit dividend payout ratio (as % of NAREIT FFO)
48.2
%
 
43.8
%
 
47.8
%
 
46.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Basic and diluted shares/OP Units outstanding reflects an assumed conversion of vested OP Units to common stock of the Company and the vesting of certain equity awards.
 
(2) Represents equity based compensation expense associated with executive departures for the nine months ended September 30, 2016.
 
 
 
 
(3) Includes unconsolidated joint venture Montecito Marketplace straight-line rental income of $10 and $5 at pro rata share for the three and nine months ended September 30, 2016,
 respectively; and straight-line rental expense of $5 and $8 at pro rata share for the three and nine months ended September 30, 2015, respectively.
 
 
 
 
(4) Includes unconsolidated joint venture Montecito Marketplace amortization of above- and below-market rent and tenant inducements of $7 and $22 at pro rata share for the three and nine
months ended September 30, 2016, respectively; and $8 and $24 at pro rata share for the three and nine months ended September 30, 2015, respectively.
 
 
 
(5) Straight-line ground rent (expense) income is included in Operating costs on the Consolidated Statements of Operations.
 
 
 
 
 
 





Supplemental Disclosure - Three Months Ended September 30, 2016
Page 8
jpgstandardlogoa16.jpg




SUPPLEMENTAL BALANCE SHEET DETAIL
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
9/30/16
 
12/31/15
 
 
 
 
 
 
 
 
 
Receivables, net
 
 
 
 
 
Straight-line rent receivable
$
98,428

 
$
87,417

 
 
Tenant receivables
89,869

 
100,769

 
 
Allowance for doubtful accounts
(17,831
)
 
(16,587
)
 
 
Other
5,620

 
8,887

 
 
Total receivables, net
$
176,086

 
$
180,486

 
 
 
 
 
 
 
 
 
Deferred charges and prepaid expenses, net
 
 
 
 
 
Deferred charges, net
$
98,734

 
$
88,998

 
 
Prepaid expenses, net
28,467

 
20,151

 
 
Total deferred charges and prepaid expenses, net
$
127,201

 
$
109,149

 
 
 
 
 
 
 
 
 
Other assets
 
 
 
 
 
Furniture, fixtures and leasehold improvements, net
$
13,362

 
$
15,148

 
 
Real estate assets held for sale
24,106

 

 
 
Other
3,764

 
2,049

 
 
Total other assets
$
41,232

 
$
17,197

 
 
 
 
 
 
 
 
 
Accounts payable, accrued expenses and other liabilities
 
 
 
 
 
Accounts payable and accrued expenses
$
211,334

 
$
213,964

 
 
Dividends payable
75,776

 
75,973

 
 
Below market leases, net
232,624

 
268,573

 
 
Other
47,010

 
44,929

 
 
Total accounts payable, accrued expenses and other liabilities
$
566,744

 
$
603,439





Supplemental Disclosure - Three Months Ended September 30, 2016
Page 9
jpgstandardlogoa16.jpg




NOI DETAIL, SUPPLEMENTAL STATEMENT OF OPERATIONS DETAIL, OPERATING RATIOS & ADDITIONAL DISCLOSURES
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
 
 
9/30/16
 
9/30/15
 
9/30/16
 
9/30/15
 
Net Operating Income Detail (1)(2)
 
 
 
 
 
 
 
 
 
Base rent
$
229,785

 
$
224,912

 
$
686,208

 
$
669,917

 
 
Ancillary and other
4,503

 
4,926

 
12,258

 
13,057

 
 
Expense reimbursements
69,469

 
65,304

 
200,944

 
200,570

 
 
Percentage rents
1,032

 
1,533

 
5,359

 
5,050

 
 
Operating costs
(30,963
)
 
(27,963
)
 
(96,532
)
 
(93,813
)
 
 
Real estate taxes
(47,812
)
 
(45,472
)
 
(130,886
)
 
(133,635
)
 
 
Provision for doubtful accounts
(2,218
)
 
(1,953
)
 
(6,579
)
 
(6,973
)
 
Net operating income
$
223,796

 
$
221,287

 
$
670,772

 
$
654,173

 
 
 
 
 
 
 
 
 
 
 
 
 
Operating Ratios
 
 
 
 
 
 
 
 
 
NOI margin (NOI / total revenues)
73.4
%
 
74.6
%
 
74.1
%
 
73.6
%
 
 
Expense recovery ratio (expense reimbursements / (operating costs + real estate taxes))
88.2
%
 
88.9
%
 
88.4
%
 
88.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Reconciliation of net operating income to net income attributable to common stockholders
 
 
 
 
 
 
 
 
Net operating income
$
223,796

 
$
221,287

 
$
670,772

 
$
654,173

 
 
Lease termination fees
1,174

 
1,548

 
7,537

 
2,266

 
 
Straight-line rental income, net
3,314

 
4,513

 
9,833

 
13,822

 
 
Amortization of above- and below-market rent and tenant inducements, net
9,083

 
9,930

 
28,744

 
34,367

 
 
Fee income
217

 
359

 
855

 
1,380

 
 
Straight-line ground rent (expense) income (3)
(78
)
 
11

 
(975
)
 
34

 
 
Depreciation and amortization
(98,337
)
 
(102,439
)
 
(294,634
)
 
(315,424
)
 
 
Impairment of real estate assets
(1,971
)
 

 
(1,971
)
 
(807
)
 
 
General and administrative
(21,787
)
 
(22,030
)
 
(69,709
)
 
(73,030
)
 
 
Total other expense
(57,728
)
 
(58,493
)
 
(165,976
)
 
(176,017
)
 
 
Equity in income of unconsolidated joint ventures
122

 
133

 
348

 
358

 
 
Net income attributable to non-controlling interests
(313
)
 
(1,046
)
 
(2,399
)
 
(2,814
)
 
Net income attributable to common stockholders
$
57,492

 
$
53,773

 
$
182,425

 
$
138,308

 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Statement of Operations Detail
 
 
 
 
 
 
 
 
Rental income
 
 
 
 
 
 
 
 
 
Base rent
$
229,785

 
$
224,912

 
$
686,208

 
$
669,917

 
 
Lease termination fees
1,174

 
1,548

 
7,537

 
2,266

 
 
Straight-line rental income, net
3,314

 
4,513

 
9,833

 
13,822

 
 
Amortization of above- and below-market rent and tenant inducements, net
9,083

 
9,930

 
28,744

 
34,367

 
 
Ancillary and other
4,503

 
4,926

 
12,258

 
13,057

 
 
Total rental income
$
247,859

 
$
245,829

 
$
744,580

 
$
733,429

 
 
 
 
 
 
 
 
 
 
 
 
 
Other revenues
 
 
 
 
 
 
 
 
 
 
Percentage rents
$
1,032

 
$
1,533

 
$
5,359

 
$
5,050

 
 
Fee income
217

 
359

 
855

 
1,380

 
 
Total other revenues
$
1,249

 
$
1,892

 
$
6,214

 
$
6,430

 
 
 
 
 
 
 
 
 
 
 
 
 
Other (income) expense
 
 
 
 
 
 
 
 
 
Interest expense
 
 
 
 
 
 
 
 
 
 
Mortgage, note and other interest
$
46,959

 
$
51,589

 
$
137,023

 
$
158,630

 
 
 
Unsecured credit facility and term loan interest
12,564

 
12,600

 
41,180

 
37,526

 
 
 
Capitalized interest
(749
)
 
(656
)
 
(1,918
)
 
(2,131
)
 
 
 
Deferred financing cost amortization
1,939

 
2,146

 
5,827

 
6,236

 
 
 
Debt (premium) discount amortization, net
(2,858
)
 
(4,112
)
 
(10,630
)
 
(13,972
)
 
 
 
Total interest expense
$
57,855

 
$
61,567

 
$
171,482

 
$
186,289

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other
 
 
 
 
 
 
 
 
 
 
Federal and state taxes
$
815

 
$
(3,151
)
 
$
2,604

 
$
(1,085
)
 
 
 
Other
555

 
271

 
1,654

 
1,200

 
 
 
Total other
$
1,370

 
$
(2,880
)
 
$
4,258

 
$
115

 
 
 
 
 
 
 
 
 
 
 
 
 
Additional G&A Disclosures
 
 
 
 
 
 
 
 
 
Equity based compensation (4)
3,463

 
3,811

 
8,041

 
19,359

 
 
Capitalized direct leasing compensation costs
3,648

 
3,666

 
11,460

 
11,231

 
 
Capitalized direct construction compensation costs
1,724

 
1,552

 
4,841

 
4,602

 
 
 
 
 
 
 
 
 
 
 
 
(1) NOI excludes unconsolidated joint venture Montecito Marketplace NOI of $184 and $552 at pro rata share for the three and nine months ended September 30, 2016, respectively.
(2) NOI excludes lease termination fees, straight-line rental income, above- and below-market rent and tenant inducement amortization, and straight-line ground rent expenses.
 
 
(3) Straight-line ground rent (expense) income is included in Operating costs on the Consolidated Statements of Operations.
(4) Includes non-cash equity based compensation amortization, including expense associated with the executive departures of $88 for the nine months ended September 30, 2016 and a non-recurring charge related to pre-IPO compensation programs of $9,875 for the nine months ended September 30, 2015.

Supplemental Disclosure - Three Months Ended September 30, 2016
Page 10
jpgstandardlogoa16.jpg




SAME PROPERTY NOI ANALYSIS & RECONCILIATION OF NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
 
 
Nine Months Ended
 
 
 
 
 
 
 
 
9/30/16
 
9/30/15
 
Change
 
9/30/16
 
9/30/15
 
Change
 
Same Property NOI Analysis (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of properties
 
514

 
514

 
 
512

 
512

 
 
Percent billed
 
90.6
%
 
90.9
%
 
(0.3%)
 
90.6
%
 
90.9
%
 
(0.3%)
 
Percent leased
 
92.6
%
 
92.5
%
 
0.1%
 
92.6
%
 
92.5
%
 
0.1%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Base rent
 
$
229,585

 
$
224,100

 
 
 
$
681,672

 
$
665,299

 
 
 
 
Ancillary and other
 
4,494

 
4,899

 
 
 
12,210

 
12,975

 
 
 
 
Expense reimbursements
 
69,483

 
65,154

 
 
 
199,963

 
199,799

 
 
 
 
Percentage rents
 
1,043

 
1,535

 
 
 
5,336

 
5,082

 
 
 
 
 
 
 
 
304,605

 
295,688

 
3.0%
 
899,181

 
883,155

 
1.8%
 
Operating expenses
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating costs
 
(31,107
)
 
(29,210
)
 
 
 
(96,355
)
 
(94,758
)
 
 
 
 
Real estate taxes
 
(47,743
)
 
(45,318
)
 
 
 
(130,018
)
 
(133,071
)
 
 
 
 
Provision for doubtful accounts
 
(2,171
)
 
(1,973
)
 
 
 
(6,564
)
 
(6,858
)
 
 
 
 
 
 
 
 
(81,021
)
 
(76,501
)
 
5.9%
 
(232,937
)
 
(234,687
)
 
(0.7%)
 
Same property NOI
 
$
223,584

 
$
219,187

 
2.0%
 
$
666,244

 
$
648,468

 
2.7%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Same property NOI excluding redevelopments (2)
 
$
214,634

 
$
210,210

 
2.1%
 
$
639,633

 
$
622,476

 
2.8%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NOI margin
 
73.4
%
 
74.1
%
 
(0.7%)
 
74.1
%
 
73.4
%
 
0.7%
 
Expense recovery ratio
 
88.1
%
 
87.4
%
 
0.7%
 
88.3
%
 
87.7
%
 
0.6%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent contribution to same property NOI growth:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Change
 
Percent Contribution
 
 
 
Change
 
Percent Contribution
 
 
 
 
Base rent
 
$
5,485

 
2.5%
 
 
 
$
16,373

 
2.6%
 
 
 
 
Ancillary and other
 
(405
)
 
(0.2%)
 
 
 
(765
)
 
(0.1%)
 
 
 
 
Net recoveries
 
7

 
0.0%
 
 
 
1,620

 
0.2%
 
 
 
 
Percentage rents
 
(492
)
 
(0.2%)
 
 
 
254

 
0.0%
 
 
 
 
Provision for doubtful accounts
 
(198
)
 
(0.1%)
 
 
 
294

 
0.0%
 
 
 
 
 
 
 
 
 
 
2.0%
 
 
 
 
 
2.7%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Reconciliation of Net Income Attributable to Common Stockholders to Same Property NOI
 
 
 
 
 
 
 
 
 
 
Same property NOI (1)
 
$
223,584

 
$
219,187

 
 
 
$
666,244

 
$
648,468

 
 
 
Adjustments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-same property NOI
 
396

 
2,301

 
 
 
5,080

 
6,272

 
 
 
 
Lease termination fees
 
1,174

 
1,548

 
 
 
7,537

 
2,266

 
 
 
 
Straight-line rental income, net
 
3,314

 
4,513

 
 
 
9,833

 
13,822

 
 
 
 
Amortization of above- and below-market rent and tenant inducements, net
 
9,083

 
9,930

 
 
 
28,744

 
34,367

 
 
 
 
Fee Income
 
217

 
359

 
 
 
855

 
1,380

 
 
 
 
Straight-line ground rent (expense) income
 
(78
)
 
11

 
 
 
(975
)
 
34

 
 
 
 
Depreciation and amortization
 
(98,337
)
 
(102,439
)
 
 
 
(294,634
)
 
(315,424
)
 
 
 
 
Impairment of real estate assets
 
(1,971
)
 

 
 
 
(1,971
)
 
(807
)
 
 
 
 
General and administrative
 
(21,787
)
 
(22,030
)
 
 
 
(69,709
)
 
(73,030
)
 
 
 
 
Total other expense
 
(57,728
)
 
(58,493
)
 
 
 
(165,976
)
 
(176,017
)
 
 
 
 
Equity in income of unconsolidated joint ventures
 
122

 
133

 
 
 
348

 
358

 
 
 
 
Pro rata share of same property NOI of unconsolidated joint ventures
 
(184
)
 
(201
)
 
 
 
(552
)
 
(567
)
 
 
 
 
Net income attributable to non-controlling interests
 
(313
)
 
(1,046
)
 
 
 
(2,399
)
 
(2,814
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income attributable to common stockholders
 
$
57,492

 
$
53,773

 
 
 
$
182,425

 
$
138,308

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Includes unconsolidated joint venture, Montecito Marketplace, at pro rata share, except for number of properties, percent billed and percent leased which are at 100%.
 
 
(2) Excludes eight redevelopment properties.
 
 
 
 
 
 
 
 
 
 
 
 


Supplemental Disclosure - Three Months Ended September 30, 2016
Page 11
jpgstandardlogoa16.jpg




CAPITAL EXPENDITURES
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
 
 
9/30/16
 
9/30/16
 
 
 
 
 
 
 
 
 
Leasing related:
 
 
 
 
 
Anchor space repositioning and redevelopment
$
28,732

 
$
72,936

 
 
Tenant improvements and tenant inducements
16,057

 
48,877

 
 
External leasing commissions
1,928

 
5,892

 
 
 
 
 
46,717

 
127,705

 
 
 
 
 
 
 
 
 
New development
516

 
672

 
 
 
 
 
 
 
 
 
Maintenance capital expenditures
6,458

 
10,664

 
 
 
 
 
$
53,691

 
$
139,041





Supplemental Disclosure - Three Months Ended September 30, 2016
Page 12
jpgstandardlogoa16.jpg




CAPITALIZATION, LIQUIDITY & DEBT RATIOS
 
 
 
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
9/30/16
 
12/31/15
 
Equity Capitalization:
 
 
 
 
 
 
 
 
 
Common shares outstanding
 
 
 
 
304,321

 
299,138

 
 
Exchangeable OP Units held by non-controlling interests
 
 
 
378

 
5,182

 
 
 
 
 
 
 
 
 
304,699

 
304,320

 
Common share price
 
 
 
 
$
27.79

 
$
25.82

 
Total equity capitalization
 
 
 
 
$
8,467,585

 
$
7,857,542

 
 
 
 
 
 
 
 
 
 
 
 
 
Debt:
 
 
 
 
 
 
 
 
 
 
Revolving credit facility
 
 
 
 
$
92,000

 
$
416,000

 
 
Term loans
 
 
 
 
2,100,000

 
2,100,000

 
 
Unsecured notes
 
 
 
 
2,318,453

 
1,218,453

 
 
Secured mortgages
 
 
 
 
1,360,845

 
2,226,763

 
Total principal debt
 
 
 
 
5,871,298

 
5,961,216

 
Add: Net unamortized premium
 
 
 
 
18,029

 
35,832

 
Less: Deferred financing fees
 
 
 
 
(31,896
)
 
(22,782
)
 
Total debt
 
 
 
 
5,857,431

 
5,974,266

 
Less: cash, cash equivalents and restricted cash
 
 
 
 
(76,805
)
 
(110,990
)
 
Net debt
 
 
 
 
$
5,780,626

 
$
5,863,276

 
 
 
 
 
 
 
 
 
 
 
 
 
Total market capitalization:
 
 
 
 
$
14,248,211

 
$
13,720,818

 
 
 
 
 
 
 
 
 
 
 
 
 
Liquidity:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents and restricted cash
 
 
 
 
$
76,805

 
$
110,990

 
 
Available under unsecured credit facility
 
 
 
 
1,158,000

 
834,000

 
 
 
 
 
 
 
 
 
$
1,234,805

 
$
944,990

 
 
 
 
 
 
 
 
 
 
 
 
 
Ratios:
 
 
 
 
 
 
 
 
 
 
Principal debt to total market capitalization
 
 
 
 
41.2
%
 
43.4
%
 
 
Principal debt to total assets, before depreciation
 
 
 

51.4
%

52.4
%
 
 
Secured principal debt to total assets, before depreciation
 
 
 
11.9
%
 
19.6
%
 
 
Net principal debt to adjusted EBITDA (GAAP)
 
 
 
 
 6.7x

 
 6.7x

 
 
Net principal debt to adjusted EBITDA (cash)
 
 
 
 
 7.1x

 
 7.3x

 
 
Unencumbered assets to unsecured debt
 
 
 
 
 1.9x

 
 1.9x

 
 
Interest coverage (adjusted EBITDA / interest expense)
 
 
 
 3.7x

 
 3.7x

 
 
Debt service coverage (adjusted EBITDA / (interest expense + scheduled principal payments))
 3.4x

 
 3.3x

 
 
Fixed charge coverage (adjusted EBITDA / (interest expense + scheduled principal payments + preferred dividends))
 3.4x

 
 3.3x

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
9/30/2016
 
 
 
 
Percentage of total debt:
 
 
 
 
 
 
 
 
 
 
Fixed
 
 
 
 
88.2
%
 
 
 
 
 
Variable
 
 
 
 
11.8
%
 
 
 
 
Unencumbered summary:
 
 
 
 
 
 
 
 
 
 
Percent of properties
 
 
 
 
72.1
%
 
 
 
 
 
Percent of ABR
 
 
 
 
75.3
%
 
 
 
 
 
Percent of NOI
 
 
 
 
75.5
%
 
 
 
 
Weighted average maturity (years):
 
 
 
 
 
 
 
 
 
 
Fixed
 
 
 
 
5.22

 
 
 
 
 
Variable
 
 
 
 
2.65

 
 
 
 
 
Total
 
 
 
 
4.91

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Credit Ratings & Outlook:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fitch Ratings
BBB-
 
 
 Stable
 
 
 
 
Moody's Investors Service
Baa3
 
 
 Negative
 
 
 
 
Standard & Poor's Ratings Services
BBB-
 
 
 Negative
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Excludes unconsolidated joint venture, Montecito Marketplace.
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2016
Page 13
jpgstandardlogoa16.jpg




DEBT OVERVIEW
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Maturity Schedule - Debt obligations
 
 
 
 
 
 
 
 
 
Weighted Avg Stated Interest Rate on Scheduled Maturities

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Scheduled Amortization

 
Scheduled Maturities

 
Total

 
 
 
 
 
 
 
 
 
2016
 
 
 
$
5,673

 
$
6,109

 
$
11,782

 
5.78
%
 
 
 
 
 
 
 
 
2017
 
 
 
21,842

 
327,817

 
349,659

 
6.43
%
 
 
 
 
 
 
 
 
2018
 
 
 
19,476

 
1,000,000

 
1,019,476

 
2.19
%
 
 
 
 
 
 
 
 
2019
 
 
 
20,126

 
600,000

 
620,126

 
1.96
%
 
 
 
 
 
 
 
 
2020
 
 
 
15,212

 
843,365

 
858,577

 
5.68
%
 
 
 
 
 
 
 
 
2021
 
 
 

 
686,225

 
686,225

 
3.29
%
 
 
 
 
 
 
 
 
2022
 
 
 

 
500,000

 
500,000

 
3.88
%
 
 
 
 
 
 
 
 
2023
 
 
 

 
500,000

 
500,000

 
3.25
%
 
 
 
 
 
 
 
 
2024
 
 
 

 
7,000

 
7,000

 
4.40
%
 
 
 
 
 
 
 
 
2025
 
 
 

 
700,000

 
700,000

 
3.85
%
 
 
 
 
 
 
 
 
2026+
 
 
 

 
618,453

 
618,453

 
4.22
%
 
 
 
 
 
 
 
 
Total Debt Maturities (1)
 
$
82,329

 
$
5,788,969

 
$
5,871,298

 
3.71
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unamortized discount on notes
 
(9,403
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unamortized premiums on mortgages
 
27,432

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deferred financing costs
 
(31,896
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt obligations, net
 
$
5,857,431

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Detailed Maturity Schedule - Debt obligations
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Rate Secured Mortgages
 
Fixed Rate Unsecured Notes (2)
 
Variable Rate Unsecured Credit Facility /
Fixed Rate Unsecured Credit Facility (2)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
Scheduled Amortization

 
Scheduled Maturities

 
Weighted Avg Stated Interest Rate on Scheduled Maturities

 
Scheduled Maturities

 
Weighted Avg Stated Interest Rate on Scheduled Maturities

 
Scheduled Maturities

 
Weighted Avg Stated Interest Rate on Scheduled Maturities

 
 
 
 
2016
 
$
5,673

 
$
6,109

 
5.78
%
 
$

 

 
$

 

 
 
 
 
2017
 
21,842

 
327,817

 
6.43
%
 

 

 

 

 
 
 
 
2018
 
19,476

 

 

 

 

 
1,000,000

 
2.19
%
 
 
 
 
2019
 
20,126

 

 

 

 

 
600,000

 
1.96
%
 
 
 
 
2020
 
15,212

 
751,365

 
6.17
%
 

 

 
92,000

 
1.76
%
 
 
 
 
2021
 

 
186,225

 
6.24
%
 

 

 
500,000

 
2.19
%
 
 
 
 
2022
 

 

 

 
500,000

 
3.88
%
 

 

 
 
 
 
2023
 

 

 

 
500,000

 
3.25
%
 

 

 
 
 
 
2024
 

 
7,000

 
4.40
%
 

 

 

 

 
 
 
 
2025
 

 

 

 
700,000

 
3.85
%
 

 

 
 
 
 
2026+
 

 

 

 
618,453

 
4.22
%
 

 

 
 
 
 
Total Debt Maturities
 
$
82,329

 
$
1,278,516

 
6.05
%
 
$
2,318,453

 
3.82
%
 
$
2,192,000

 
2.11
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Excludes unconsolidated joint venture, Montecito Marketplace, debt obligations of $2,837 at pro rata share.
 
 
 
 
 
 
 
 
 
 
(2) No scheduled amortization until maturity dates.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2016
Page 14
jpgstandardlogoa16.jpg




SUMMARY OF OUTSTANDING DEBT
 
 
 
 
 
 
 
 
 
 
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Number of
 
Outstanding
 
Stated
 
Maturity
 
Percent of
 
 
 
Loan / Property Name
 
MSA
 
 
 
 Properties
 
Balance
 
Interest Rate
 
Date
 
Total Indebtedness
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FIXED RATE DEBT:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Secured Mortgages
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dublin Village *
 
Dublin, GA
 
 
 
1

 
$
6,129

 
5.78
%
 
12/11/16
 
0.10
%
 
 
 
 
Conyers Plaza I *
 
Atlanta-Sandy Springs-Roswell, GA
 
1

 
10,800

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

 
17,519

 
8.00
%
 
2/1/17
 
0.30
%
 
 
 
 
Greensboro Village
 
Nashville-Davidson--Murfreesboro--Franklin, TN
 
1

 
8,598

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

 
286,104

 
6.38
%
 
9/1/17
 
4.87
%
 
 
 
 
Whitaker Square
 
Winston-Salem, NC
 
 
 
1

 
8,904

 
6.32
%
 
12/1/17
 
0.15
%
 
 
 
 
Christmas Tree Plaza
 
New Haven-Milford, CT
 
 
 
1

 
1,979

 
7.89
%
 
5/11/18
 
0.03
%
 
 
 
 
LP - JPM CMBS
 
 
 
 
71

 
446,977

 
6.27
%
 
8/1/20
 
7.61
%
 
 
 
 
Monroe ShopRite Plaza
 
New York-Newark-Jersey City, NY-NJ-PA
 
1

 
8,236

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

 
9,556

 
6.50
%
 
8/1/20
 
0.16
%
 
 
 
 
Ivyridge
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1

 
13,331

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

 
47,523

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

 
98,741

 
5.91
%
 
12/6/20
 
1.68
%
 
 
 
 
Inland (Brixmor/IA, LLC) - Pool B
 
 
 
 
8

 
90,436

 
5.91
%
 
12/6/20
 
1.54
%
 
 
 
 
Inland (Brixmor/IA, LLC) - Pool C
 
 
 
 
7

 
96,875

 
5.91
%
 
12/31/20
 
1.65
%
 
 
 
 
REIT 20 LP 51 A
 
 
 
 
4

 
46,905

 
6.24
%
 
1/6/21
 
0.80
%
 
 
 
 
REIT 20 LP 45 B
 
 
 
 
4

 
42,172

 
6.24
%
 
1/6/21
 
0.72
%
 
 
 
 
REIT 20 LP 42 C
 
 
 
 
4

 
39,424

 
6.24
%
 
1/6/21
 
0.67
%
 
 
 
 
REIT 20 LP 37 D
 
 
 
 
3

 
34,045

 
6.24
%
 
1/6/21
 
0.58
%
 
 
 
 
REIT 20 LP 43 E
 
 
 
 
4

 
39,591

 
6.24
%
 
1/6/21
 
0.67
%
 
 
 
 
Larchmont Centre
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
1

 
7,000

 
4.40
%
 
3/1/24
 
0.12
%
 
 
 
 
TOTAL FIXED RATE SECURED MORTGAGES
 
 
 
 
 
 
 
1,360,845

 
 
 
 
 
23.16
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured Credit Facility
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Term Loan Facility- Tranche A (1)(2)
 
 
 
 

 
$
1,000,000

 
2.19
%
 
7/31/18
 
17.03
%
 
 
 
 
Term Loan Facility- Tranche B (1)(3)
 
 
 
 

 
500,000

 
2.19
%
 
7/31/21
 
8.52
%
 
 
 
 
TOTAL FIXED RATE UNSECURED CREDIT FACILITY
 
 
 
 
 
1,500,000

 
 
 
 
 
25.55
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured Notes
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
3.88%, 2022 Brixmor OP Notes
 
 
 
 

 
$
500,000

 
3.88
%
 
8/15/22
 
8.52
%
 
 
 
 
3.25%, 2023 Brixmor OP Notes
 
 
 
 

 
500,000

 
3.25
%
 
9/15/23
 
8.52
%
 
 
 
 
3.85%, 2025 Brixmor OP Notes
 
 
 
 

 
700,000

 
3.85
%
 
2/28/25
 
11.92
%
 
 
 
 
4.13%, 2026 Brixmor OP Notes
 
 
 
 

 
600,000

 
4.13
%
 
6/15/26
 
10.22
%
 
 
 
 
7.97%, 2026 Brixmor LLC Notes
 
 
 
 

 
694

 
7.97
%
 
8/14/26
 
0.01
%
 
 
 
 
7.65%, 2026 Brixmor LLC Notes
 
 
 
 

 
6,100

 
7.65
%
 
11/2/26
 
0.10
%
 
 
 
 
7.68%, 2026 Brixmor LLC Notes I
 
 
 
 

 
748

 
7.68
%
 
11/2/26
 
0.01
%
 
 
 
 
6.90%, 2028 Brixmor LLC Notes I
 
 
 
 

 
2,222

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

 
5,486

 
6.90
%
 
2/15/28
 
0.09
%
 
 
 
 
7.50%, 2029 Brixmor LLC Notes
 
 
 
 

 
3,203

 
7.50
%
 
7/30/29
 
0.05
%
 
 
 
 
TOTAL FIXED RATE UNSECURED NOTES
 
 
 
 
 
 
 
2,318,453

 
 
 
 
 
39.48
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL FIXED RATE DEBT
 
 
 
 
 
 
 
$
5,179,298

 
 
 
 
 
88.21
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2016
Page 15
jpgstandardlogoa16.jpg




SUMMARY OF OUTSTANDING DEBT
 
 
 
 
 
 
 
 
 
 
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Number of
 
Outstanding
 
Stated
 
Maturity
 
Percent of
 
 
 
Loan / Property Name
 
MSA
 
 
 
 Properties
 
Balance
 
Interest Rate
 
Date
 
Total Indebtedness
 
 
 
VARIABLE RATE DEBT:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured Credit Facility
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revolving Credit Facility - L+120bps
 
 
 
 

 
$
92,000

 
1.76
%
 
7/31/20
 
1.57
%
 
 
 
 
Term Loan Facility - L+140bps (4)
 
 
 
 

 
600,000

 
1.96
%
 
3/18/19
 
10.22
%
 
 
 
 
TOTAL VARIABLE RATE UNSECURED CREDIT FACILITY
 
 
 
 
 
692,000

 
 
 
 
 
11.79
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL VARIABLE RATE DEBT
 
 
 
 
 
 
 
$
692,000

 
 
 
 
 
11.79
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL DEBT OBLIGATIONS
 
 
 
 
 
 
 
$
5,871,298

 
 
 
 
 
100.00
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unamortized discount on notes
 
(9,403
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unamortized premiums on mortgages
27,432

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deferred financing costs
 
(31,896
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
DEBT OBLIGATIONS, NET
 
$
5,857,431

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
* Indicates property is part of a larger shopping center.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Term loan facility was swapped from 1 month Libor to fixed at a combined rate of 0.844% (plus a spread of 135bps) through October 3, 2016.
 
 
 
 
 
 
 
 
 
(2) Effective November 1, 2016, $300,000 of the Term Loan Facility - Tranche A is swapped from 1 month Libor to a fixed rate of 0.8165% (plus a spread of 135bps) through July 31, 2018.
 
 
 
 
 
 
(3) Effective November 1, 2016, $500,000 of the Term Loan Facility - Tranche B is swapped from 1 month Libor to a fixed rate of 1.113% (plus a spread of 135bps) through July 30, 2021.
 
 
 
 
 
 
(4) Effective November 1, 2016, $400,000 of the term loan is swapped from 1 month Libor to a fixed rate of 0.878% (plus a spread of 140bps) through March 18, 2019. Additionally, $200,000 of the term loan is swapped from 1 month Libor to fixed at a combined
rate of 0.818 % (plus a spread of 140bps) through July 31, 2018.
 



Supplemental Disclosure - Three Months Ended September 30, 2016
Page 16
jpgstandardlogoa16.jpg




UNSECURED OP NOTES COVENANT DISCLOSURE
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Covenants
 
As of 9/30/16
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 I. Aggregate debt test
 
 < 65%
 
52.1
%
 
 
 
 
 
Total Debt
 
 
 
 
5,857,431

 
 
 
 
 
Total Assets
 
 
 
11,236,594

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
II. Secured debt test
 
< 40%
 
12.4
%
 
 
 
 
 
Total Secured Debt
 
 
 
1,387,779

 
 
 
 
 
Total Assets
 
 
 
11,236,594

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
III. Unencumbered asset ratio
 
 > 150%
 
189.7
%
 
 
 
 
 
Total Unencumbered Assets
 
 
 
8,478,855

 
 
 
 
 
Unsecured Debt
 
 
 
4,469,652

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
IV. Debt service test
 
 > 1.5x
 
3.9x

 
 
 
 
 
Consolidated EBITDA
 
 
 
866,282

 
 
 
 
 
Annual Debt Service Charge
 
 
 
223,402

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Definitions for unsecured notes covenants:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt:
 
Debt means, with respect to any person, any:
 
 
 
 
 
 
 
  • indebtedness of such person in respect of borrowed money or evidenced by bonds, notes, debentures or similar instruments,
 
 
 
 
 
 
 
  • indebtedness secured by any Lien on any property or asset owned by such person, but only to the extent of the lesser of (a) the amount of indebtedness
 
 
 
 
 
 
 
    so secured and (b) the fair market value (determined in good faith by the Operating Partnership) of the property subject to such Lien,
 
 
 
 
 
 
 
  • reimbursement obligations, contingent or otherwise, in connection with any letters of credit actually issued or amounts representing the balance deferred
 
 
 
 
 
 
 
    and unpaid of the purchase price of any property except any such balance that constitutes an accrued expense or trade payable, or
 
 
 
 
 
 
 
  • any lease of property by such person as lessee which is required to be reflected on such person’s balance sheet as a capitalized lease in accordance
 
 
 
 
 
 
 
    with GAAP;
 
 
 
 
 
 
 
in the case of items of indebtedness under (i) through (iii) above to the extent that any such items (other than letters of credit) would appear as liabilities
 
 
 
 
 
 
 
on such person’s balance sheet in accordance with GAAP; provided, however, that the term “Debt” will (1) include, to the extent not otherwise included,
 
 
 
 
 
 
 
any non-contingent obligation of such person to be liable for, or to pay, as obligor, guarantor or otherwise (other than for purposes of collection in the
 
 
 
 
 
 
 
ordinary course of business), Debt of the types referred to above of another person, other than obligations to be liable for the Debt of another person solely
 
 
 
 
 
 
 
as a result of non-recourse carveouts (it being understood that Debt shall be deemed to be incurred by such person whenever such person shall create,
 
 
 
 
 
 
 
assume, guarantee or otherwise become liable in respect thereof) and (2) exclude any such indebtedness (or obligation referenced in clause (1) above)
 
 
 
 
 
 
 
 that has been the subject of an “in substance” defeasance in accordance with GAAP and Intercompany Indebtedness that is subordinate in right of
 
 
 
 
 
 
 
payment to the notes (or an obligation to be liable for, or to pay, Intercompany Indebtedness that is subordinate in right of payment to the notes).
 
 
 
 
 
 
 
 
 
Total Assets:
 
The sum of, without duplication: (i) Undepreciated Real Estate Assets and (ii) all other assets (excluding accounts receivable and non-real estate intangibles)
 
 
 
 
 
 
 
of Brixmor OP and its Subsidiaries, all determined on a consolidated basis in accordance with GAAP.
 
 
 
 
 
 
 
 
 
Total Unencumbered Assets:
 
The sum of, without duplication: (i) those Undepreciated Real Estate Assets which are not subject to a Lien securing Debt; and (ii) all other assets (excluding
 
 
 
 
 
 
 
accounts receivable and non-real estate intangibles) of us and our Subsidiaries not subject to a Lien securing Debt, all determined on a consolidated basis
 
 
 
 
 
 
 
in accordance with GAAP; provided, however, that, in determining Total Unencumbered Assets as a percentage of outstanding Unsecured Debt for
 
 
 
 
 
 
 
purposes of the covenant set forth above in “Certain Covenants—Maintenance of Total Unencumbered Assets,” all investments in unconsolidated limited
 
 
 
 
 
 
 
partnerships, unconsolidated limited liability companies and other unconsolidated entities shall be excluded from Total Unencumbered Assets.
 
 
 
 
 
 
 
 
 
Unsecured Debt:
 
Debt of Brixmor OP or any of its Subsidiaries which is not secured by a Lien on any property or assets of Brixmor OP or any of its Subsidiaries.
 
 
 
 
 
 
 
 
 
Consolidated EBITDA:
 
For any period means Consolidated Net Income of Brixmor OP and its Subsidiaries for such period, plus amounts which have been deducted and minus
 
 
 
 
 
 
 
amounts which have been added for, without duplication: (i) interest expense on Debt; (ii) provision for taxes based on income; (iii) amortization of debt
 
 
 
 
 
 
 
discount, premium and deferred financing costs; (iv) the income or expense attributable to transactions involving derivative instruments that do not qualify
 
 
 
 
 
 
 
for hedge accounting in accordance with GAAP; (v) impairment losses and gains on sales or other dispositions of properties and other investments;
 
 
 
 
 
 
 
(vi) depreciation and amortization; (vii) net amount of extraordinary items or non-recurring items, as may be determined by us in good faith;
 
 
 
 
 
 
 
(viii) amortization of deferred charges; (ix) gains or losses on early extinguishment of debt; and (x) noncontrolling interests; all determined on a
 
 
 
 
 
 
 
consolidated basis in accordance with GAAP.
 
 
 
 
 
 
 
 
 
Annual Debt Service Charge:
 
For any period, the interest expense of Brixmor OP and its Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Note: For full detailed descriptions of the unsecured OP notes covenant calculations and definitions of capitalized terms please refer to the Prospectus Supplements filed by the OP with the
 
Securities and Exchange Commission on January 15, 2015, August 3, 2015, June 6, 2016, and August 17, 2016 and the notes and indenture incorporated therein by reference.


Supplemental Disclosure - Three Months Ended September 30, 2016
Page 17
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UNSECURED CREDIT FACILITY COVENANT DISCLOSURE
Unaudited, dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Covenants
 
As of 9/30/16
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 I. Leverage ratio
 
 < 60%
 
42.3
%
 
 
 
 
 
Total Outstanding Indebtedness
 
 
 
5,874,135

 
 
 
 
 
Balance Sheet Cash
 
 
 
78,606

 
 
 
 
 
Total Asset Value
 
 
 
13,691,384

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
II. Secured leverage ratio
 
< 40%
 
9.4
%
 
 
 
 
 
Total Secured Indebtedness
 
 
 
1,363,682

 
 
 
 
 
Balance Sheet Cash
 
 
78,606

 
 
 
 
 
Total Asset Value
 
 
 
13,691,384

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
III. Unsecured leverage ratio
 
 < 60%
 
43.3
%
 
 
 
 
 
Total Unsecured Indebtedness
 
 
 
4,510,453

 
 
 
 
 
Unrestricted Cash
 
 
 
32,944

 
 
 
 
 
Unencumbered Asset Value
 
 
10,330,102

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
IV. Fixed charge coverage ratio
 
 > 1.5x
 
3.6x

 
 
 
 
 
Total Net Operating Income
 
 
 
922,036

 
 
 
 
 
Capital Expenditure Reserve
 
 
 
12,944

 
 
 
 
 
Fixed Charges
 
 
 
249,959

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 6.75%, (ii) the amount of Management Fees received by the Company for the most recent six months annualized divided by 6.75%, (iii) Acquisition Assets valued at the higher of their capitalization value (Net Operating Income for the most recent six months annualized divided by 6.75%) 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 unsecured credit facility covenant calculations and definitions of capitalized terms please refer to the Amended Revolving Credit and Term Loan Agreement, dated as of July 25, 2016 filed as Exhibit 10.5 to Form 10-Q, filed with the Securities and Exchanged Commission on July 25, 2016
 

Supplemental Disclosure - Three Months Ended September 30, 2016
Page 18
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INVESTMENT SUMMARY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure
Three Months Ended September 30, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





ACQUISITIONS
Dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
MSA
 
Purchase Date
 
Purchase Amount
 
GLA / Acres
 
Percent Leased
 
 ABR/
SF
 
Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Land adjacent to Western Village
 
Cincinnati, OH-KY-IN
 
1/15/16
 
$
50

 
 0.13 acres

 
 
 
 
 
 
Outparcel at Dickson City Crossings
 
Scranton--Wilkes-Barre--Hazleton, PA
 
1/15/16
 
1,020

 
 1.8 acres

 
 
 
 
 
 
Land at Keith Bridge Commons
 
Atlanta-Sandy Springs-Roswell, GA
 
1/29/16
 
100

 
 0.32 acres

 
 
 
 
 
 
 
 
 
 
 
 
1,170

 
 2.25 acres

 
 
 
 
 
 
 
 
 
Three Months Ended September 30, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Building at Rose Pavilion
 
Pleasanton, CA
 
9/22/16
 
$
6,733

 
28,530

 
 
 
 
 
 
 
 
 
 
 
 
6,733

 
28,530

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL - NINE MONTHS ENDED 9/30/16
 
$
7,903

 
28,530

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 / 2.25 acres

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




Supplemental Disclosure - Three Months Ended September 30, 2016
Page 20
jpgstandardlogoa16.jpg




DISPOSITIONS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
MSA
 
Sale
Date
 
Sale
Amount
 
Gain /
(Impairment)
 
GLA / Acres
 
Percent Leased
 
ABR/
SF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended June 30, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Congress Crossing
 
Athens, TN
 
4/27/16
 
$
11,400

 
$
4,159

 
180,305

 
97.6
%
 
$
7.00

 
 
Outparcel building at Plymouth Plaza
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
5/4/16
 
4,375

 
1,926

 
3,800

 
100.0
%
 
55.25

 
 
Apopka Commons
 
Orlando-Kissimmee-Sanford, FL
 
5/27/16
 
5,475

 
1,697

 
42,507

 
81.3
%
 
13.32

 
 
 
 
 
 
 
 
 
 
21,250

 
7,782

 
226,612

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended September 30, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Jacksonian Plaza
 
Jackson, MS
 
7/21/16
 
$
5,700

 
$
2,450

 
73,041

 
100.0
%
 
$
7.86

 
 
Inwood Forest
 
Houston-The Woodlands-Sugar Land, TX
 
9/9/16
 
5,100

 
(51
)
 
77,553

 
98.1
%
 
8.82

 
 
 
 
 
 
 
 
 
 
10,800

 
2,399

 
150,594

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL - NINE MONTHS ENDED 9/30/16
 
 
 
$
32,050

 
$
10,181

 
377,206

 
 
 
 
 




Supplemental Disclosure - Three Months Ended September 30, 2016
Page 21
jpgstandardlogoa16.jpg




ANCHOR SPACE REPOSITIONING SUMMARY
Dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
 
MSA
 
 
 
 
 
 
 
Description
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
IN PROCESS ANCHOR SPACE REPOSITIONINGS
 
 
 
 
 
 
 
1

Pointe Orlando
 
 
Orlando-Kissimmee-Sanford, FL
 
 
 
 
Remerchandise ten small shop spaces with a 48K SF Main Event
 
 
2

Wilmington Island
 
Savannah, GA
 
 
 
 
 
 
 
Reconfigure junior anchor and small shop space to accommodate expansion of existing Kroger to 75K SF prototype store and addition of Kroger fuel center
 
 
3

Jeffersontown Commons
 
Louisville/Jefferson County, KY-IN
 
 
 
Remerchandise former daycare and adjacent anchor vacancy with a 31K SF Savers
 
 
4

Stony Brook I & II
 
 
Louisville/Jefferson County, KY-IN
 
 
 
Reconfigure approximately 15K of small shop space to accommodate expansion of existing Kroger to 116K SF Kroger Marketplace
 
 
5

Points West Plaza
 
Boston-Cambridge-Newton, MA-NH
 
 
Combine two adjacent small shop vacancies for a 15K SF Citi Trends and remerchandise former Pay/Half with an 11K SF L&M Bargain
 
 
6

Marketplace @ 42
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
 
Remerchandise former Rainbow Foods with a 32K SF Fresh Thyme Farmers Market and a 21K SF Marshalls
 
 
7

Crossroads Centre
 
St. Louis, MO-IL
 
 
 
 
 
 
Remerchandise former Hobby Lobby with a 23K SF Ruler Foods (Kroger) and a 37K SF Sky Zone
 
 
8

College Plaza
 
 
New York-Newark-Jersey City, NY-NJ-PA
 
 
Remerchandise former Rite Aid with an 18K SF A.C. Moore
 
 
9

Highridge Plaza
 
 
New York-Newark-Jersey City, NY-NJ-PA
 
 
Remerchandise former A&P with a 42K SF H-Mart grocer
 
 
10

Mamaroneck Centre
 
New York-Newark-Jersey City, NY-NJ-PA
 
 
Remerchandise former A&P with a 12K SF CVS and a 13K SF specialty grocer
 
 
11

Southland Shopping Center (1)
 
Cleveland-Elyria, OH
 
 
 
 
Combine former Petco (relocated within center) and adjacent underutilized small shop vacancies to accommodate a 28K SF Aspire Fitness
 
 
12

Cross Keys Commons (1)
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
Remerchandise former Party City with an 11K SF ULTA
 
 
13

Ivyridge
 
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
Remerchandise former A&P with a 47K SF Target
 
 
14

Island Plaza
 
 
Charleston-North Charleston, SC
 
 
 
 
Relocate and expand existing Tuesday Morning to 27K SF and remerchandise former Tuesday Morning with a 6K SF small shop space
 
 
15

Northtown Plaza
 
 
Houston-The Woodlands-Sugar Land, TX
 
 
Combine former Anna's Linens and RadioShack for a 16K SF dd's Discounts (Ross Dress for Less)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of Projects
 
Expected Total
Project Costs
 
Costs to Date
 
Expected NOI Yield
 
 
 
 
 
 
Total In Process
15

 
$
33,200
 
 
$
18,248

 
10% - 12%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
COMPLETED ANCHOR SPACE REPOSITIONINGS - NINE MONTHS ENDED 9/30/16
 
 
1

Glendale Galleria (2)
 
Phoenix-Mesa-Scottsdale, AZ
 
 
 
 
Remerchandise former Smashing Buys with a 37K SF LA Fitness
 
 
2

Gateway Plaza
 
 
Los Angeles-Long Beach-Anaheim, CA
 
 
Remerchandise former CVS with a 15K SF Party City
 
 
3

Ocean View Plaza (2)
 
Los Angeles-Long Beach-Anaheim, CA
 
 
Remerchandise former Fitness Elite for Women with an 18K SF Crunch Fitness
 
 
4

California Oaks Center
 
Riverside-San Bernardino-Ontario, CA
 
 
Remerchandise former Ralphs with a 19K SF Barons Market
 
 
5

Lompoc Center (2)
 
Santa Maria-Santa Barbara, CA
 
 
 
 
Remerchandise and expand former Pier One with a 16K SF Harbor Freight Tools
 
 
6

Superior Marketplace
 
Boulder, CO
 
 
 
 
 
 
 
Reconfigure anchor vacancy with a 19K SF Party City and an 11K SF ULTA
 
 
7

Arapahoe Crossings
 
Denver-Aurora-Lakewood, CO
 
 
 
 
Remerchandise former Marshalls and former OfficeMax with a 31K SF Stein Mart and a 24K SF buybuy BABY
 
 
8

Regency Park Shopping Center
 
Jacksonville, FL
 
 
 
 
 
 
Remerchandise anchor vacancy with a 40K SF Ollie's Bargain Outlet
 
 
9

The Shoppes at Southside (2)
 
Jacksonville, FL
 
 
 
 
 
 
Remerchandise former Sports Authority with a 40K SF Restoration Hardware Outlet
 
 
10

Seminole Plaza (2)
 
Tampa-St. Petersburg-Clearwater, FL
 
 
Remerchandise and expand former Deals with a 21K SF Bealls Outlet
 
 
11

Rivercrest Shopping Center
 
Chicago-Naperville-Elgin, IL-IN-WI
 
 
 
Addition of a 9K SF Five Below in former Kmart, in conjunction with previous remerchandising with Ross Dress for Less and Party City
 
 
12

Tinley Park Plaza
 
 
Chicago-Naperville-Elgin, IL-IN-WI
 
 
 
Remerchandise former Staples with a 23K SF Planet Fitness
 
 
13

Westlane Shopping Center
 
Indianapolis-Carmel-Anderson, IN
 
 
 
 
Remerchandise former Marsh Supermarket with a 17K SF Save-A-Lot and a 12K SF Citi Trends
 
 
14

Delta Center
 
 
Lansing-East Lansing, MI
 
 
 
 
Remerchandise former Party City with expansion of existing Men's Wearhouse to a 10K SF Destination XL
 
 
15

County Line Plaza (2)
 
Jackson, MS
 
 
 
 
 
 
 
Remerchandise and expand former Office Depot with a 50K SF Burlington Stores and a 25K SF Burke's Outlet
 
 
16

Clocktower Place
 
 
St. Louis, MO-IL
 
 
 
 
 
 
Relocation and rightsize of existing regional furniture store to 30K SF in former Office Depot and replace with a 16K SF K&G Fashion Superstore
 
 
17

Willow Springs Plaza (2)
 
Manchester-Nashua, NH
 
 
 
 
Remerchandise former Namco Pools with a 33K SF New Hampshire Liquor and Wine Outlet
 
 
18

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 relocation of existing 6K SF Lebo's Footwear to enable rightsizing of Staples to 13K SF
 
 
19

Crown Point
 
 
Columbus, OH
 
 
 
 
 
 
Remerchandise former Lombard's Furniture and adjacent small shop vacancy with a 21K SF Planet Fitness
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2016
Page 22
jpgstandardlogoa16.jpg




ANCHOR SPACE REPOSITIONING SUMMARY
Dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
 
MSA
 
 
 
 
 
 
 
Description
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
COMPLETED ANCHOR SPACE REPOSITIONINGS - NINE MONTHS ENDED 9/30/16 (continued)
 
 
20

The Commons at Wolfcreek
 
Memphis, TN-MS-AR
 
 
 
 
Remerchandise former OfficeMax with a 15K SF DSW and a 9K SF Five Below
 
 
21

Five Points (2)
 
 
Corpus Christi, TX
 
 
 
 
Reconfigure anchor vacancy with a 17K SF Harbor Freight Tools and 7K SF of small shop space
 
 
22

Bardin Place Center (2)
 
Dallas-Fort Worth-Arlington, TX
 
 
 
 
Reconfigure former Sports Authority and adjacent small shop space with an 86K SF WinCo Foods
 
 
23

Preston Park
 
 
Dallas-Fort Worth-Arlington, TX
 
 
 
 
Remerchandise former Minyard Sun Fresh Market with a 53K SF Kroger
 
 
24

Webb Royal Plaza
 
Dallas-Fort Worth-Arlington, TX
 
 
 
 
Remerchandise former grocer with a 35K SF El Rio Grande Latin Market
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of Projects
 
Total Costs
 
Expected NOI Yield
 
 
 
 
 
 
 
 
Total Completed
24

 
$
39,660
 
 
12
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Indicates project added to In Process pipeline during the three months ended September 30, 2016.
(2) Indicates project completed during the three months ended September 30, 2016.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The Anchor Space Repositioning projects listed above are actively being worked on by the Company and reflect projects in which leases have been executed with the tenant(s) listed in the project descriptions. There is no guarantee that the Company will
complete any or all of these projects or that the expected total project costs or expected NOI yields will be the amounts shown. The expected total project costs and expected NOI yields are management's best estimates based on current information
and may change over time. For more information, please refer to the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2015.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2016
Page 23
jpgstandardlogoa16.jpg




OUTPARCEL DEVELOPMENT & NEW DEVELOPMENT SUMMARY
Dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Expected
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Stabilization
 
 Total
 
 Costs
 
Expected
 
 
 
 
Property Name
 
MSA
 
Project Description
 
Quarter
 
 Project Cost
 
 to Date
 
NOI Yield
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
OUTPARCEL DEVELOPMENTS:
 
 
 
 
 
 
 
 
 
 
 
 
 
IN PROCESS OUTPARCEL DEVELOPMENTS
 
 
 
 
 
 
 
 
 
 
 
 
1
Mira Mesa Mall
 
San Diego-Carlsbad, CA
 
Construction of a 3K SF Habit Burger Grill outparcel
 
Dec-16
 
$
1,000

 
$
281

 
21
%
 
 
 
2
Coastal Way - Coastal Landing
 
Tampa-St. Petersburg-Clearwater, FL
 
Construction of a 3K SF Visionworks, a 2K SF Chipotle and a 1K SF Jimmy John's outparcels
 
Dec-16
 
2,500

 
1,466

 
11
%
 
 
 
3
Tinley Park Plaza
 
Chicago-Naperville-Elgin, IL-IN-WI
 
Reconfigure 8K SF outparcel space with a 3K SF Blaze Pizza, a 3K SF Noodles & Company and 2K SF of additional retail space
 
Dec-16
 
2,900

 
2,486

 
13
%
 
 
 
4
College Plaza
 
New York-Newark-Jersey City, NY-NJ-PA
 
Construction of a 4K SF Panera Bread outparcel with drive-thru
 
Dec-16
 
1,000

 
937

 
19
%
 
 
 
5
Florence Plaza - Florence Square
 
Cincinnati, OH-KY-IN
 
Construction of a 4K SF First Watch outparcel
 
Dec-16
 
2,000

 
1,614


12
%
 
 
 
6
The Commons at Wolfcreek
 
Memphis, TN-MS-AR
 
Construction of an 11K SF outparcel with a 5K SF AT&T and three additional small shop retailers
 
Dec-16
 
2,900

 
2,001

 
12
%
 
 
 
7
Galleria Commons
 
Las Vegas-Henderson-Paradise, NV
 
Construction of a 3K SF Corner Bakery Café outparcel
 
Mar-17
 
700

 
148

 
19
%
 
 
 
8
Miracle Mile Shopping Plaza
 
Toledo, OH
 
Construction of a 7K SF DaVita Dialysis outparcel
 
Mar-17
 
1,300

 
163

 
9
%
 
 
 
9
Pilgrim Gardens
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
Construction of a 2K SF Moe's Southwest Grill outparcel
 
Mar-17
 
400

 
76

 
26
%
 
 
 
10
The Centre at Navarro
 
Victoria, TX
 
Construction of an 18K SF Aldi outparcel
 
Mar-17
 
400

 
112

 
39
%
 
 
 
11
Century Plaza Shopping Center
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
Demolition of existing retail space, construction of a 13K SF CVS outparcel with drive-thru and site improvements
 
Jun-18
 
3,700

 
649

 
12
%
 
 
 
 
TOTAL IN PROCESS OUTPARCEL DEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE
 
 
 
$
18,800

 
$
9,933

 
14
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
COMPLETED OUTPARCEL DEVELOPMENTS - NINE MONTHS ENDED 9/30/16
 
 
 
 
 
 
 
 
 
 
 
 
1
Arbor - Broadway Faire
 
Fresno, CA
 
Reconfigure former outparcel building for a 6K SF Buffalo Wild Wings
 
Mar-16
 
 
 
$
275

 
62
%
 
 
 
2
Westgate
 
Dublin, GA
 
Construction of a 2K SF Dunkin' Donuts / Baskin-Robbins outparcel
 
Mar-16
 
 
 
326

 
16
%
 
 
 
3
Wadsworth Crossings
 
Cleveland-Elyria, OH
 
Construction of a 4K SF Mattress Firm outparcel
 
Mar-16
 
 
 
1,614

 
12
%
 
 
 
4
Wynnewood Village
 
Dallas-Fort Worth-Arlington, TX
 
Construction of a 3K SF Popeyes Louisiana Kitchen outparcel
 
Mar-16
 
 
 
553

 
16
%
 
 
 
5
Puente Hills Town Center (1)
 
Los Angeles-Long Beach-Anaheim, CA
 
Reconfigure former freestanding Barnes & Noble with a 3K SF Habit Burger Grill, a 3K SF Pacific Fish Grill and two additional small shop retailers
 
Sep-16
 
 
 
2,421

 
12
%
 
 
 
6
Briggsmore Plaza (1)
 
Modesto, CA
 
Construction of a 3K SF Taco Bell outparcel
 
Sep-16
 
 
 
622

 
15
%
 
 
 
7
Haymarket Mall (1)
 
Des Moines-West Des Moines, IA
 
Construction of a 3K SF Chick-fil-A outparcel
 
Sep-16
 
 
 
70

 
140
%
 
 
 
8
Warren Plaza (1)
 
Dubuque, IA
 
Construction of a 5K SF Chick-fil-A outparcel
 
Sep-16
 
 
 
60

 
42
%
 
 
 
 
TOTAL COMPLETED OUTPARCEL DEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE
 
 
 
 
 
$
5,941

 
17
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NEW DEVELOPMENTS:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
IN PROCESS NEW DEVELOPMENTS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1
The Shops at Riverhead
 
New York-Newark-Jersey City, NY-NJ-PA
 
Construction of a 42K SF Marshalls / HomeGoods combo store, an 18K SF PetSmart, a 10K SF ULTA and additional junior anchor spaces adjacent to an existing non-owned Costco
 
Mar-18
 
$
19,300

 
$
4,563

 
11
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Indicates project completed during the three months ended September 30, 2016.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The projects listed above are actively being worked on by the Company and reflect projects in which leases have been executed with the tenant(s) listed in the project descriptions. There is no guarantee that the Company will complete any or all of these
 
opportunities, that the expected total project cost or expected NOI yield will be the amounts shown or that stabilization will occur as anticipated. The expected total project costs, expected NOI yields and anticipated stabilization dates are management's
 
best estimates based on current information and may change over time. For more information, please refer to the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2015.

Supplemental Disclosure - Three Months Ended September 30, 2016
Page 24
jpgstandardlogoa16.jpg




REDEVELOPMENT SUMMARY
 
Dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Expected
 
 
 
 
 
 
 
 
 
 
 
 
 
 Property
 
Stabilization
 
 Total
 
 Costs
 
Expected
 
 
 
Property Name
 
MSA
 
Project Description
 
 Acreage
 
Quarter
 
 Project Cost
 
 to Date
 
NOI Yield
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
REDEVELOPMENTS:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
IN PROCESS REDEVELOPMENTS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1

Bay Pointe Plaza
 
Tampa-St. Petersburg-Clearwater, FL
 
Redevelopment of existing Publix with a 54K SF prototype with drive-thru pharmacy and remerchandise vacant endcap with a 9K SF Pet Supermarket, as well as property improvements including the addition of seating areas, façade renovations and LED initiatives
 
10

 
Dec-16
 
$
7,400

 
$
5,755

 
10
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2

Rose Pavilion (1)
 
San Francisco-Oakland-Hayward, CA
 
Redevelopment of recently acquired former CVS with a 29K SF Total Wine & More and redevelopment of existing retail space with a 13K SF Trader Joe’s and additional small shop space, as well as full shopping center upgrades, including common area enhancements and façade renovations
 
27

 
Dec-17
 
14,400

 
7,178

 
10
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
3

Gateway Plaza - Vallejo (2)
 
Vallejo-Fairfield, CA
 
Redevelopment of former CVS and adjacent 2.4 acres with a 16K SF DSW and a 10K SF ULTA replacing the former CVS and construction of a 4K SF Panera Bread outparcel with drive-thru
 
53

 
Dec-17
 
8,700

 
5,050

 
8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
4

Park Shore Plaza (1)
 
Naples-Immokalee-Marco Island, FL
 
Redevelopment and densification of center including replacing former Kmart and YouFit Health Club with a 60K SF Burlington Stores, a 27K SF Saks OFF Fifth, a 19K SF Party City and an additional 16K SF junior anchor; construction of additional small shop space including restaurant outparcels with potential for outdoor patio areas; and shopping center upgrades, including courtyard enhancements and façade renovations
 
22

 
Dec-17
 
20,800

 
15,036

 
11
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5

Erie Canal Centre (1)
 
Syracuse, NY
 
Redevelopment of former Kmart and other vacant anchor space with a 50K SF SF Dick’s Sporting Goods and 65K SF of additional junior anchor space, potential construction of 8K SF of small shop space, and full shopping center upgrades, including façade renovations, common area and parking field enhancements
 
11

 
Dec-17
 
11,300

 
7,946

 
9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
6

Preston Ridge (1)
 
Dallas-Fort Worth-Arlington, TX
 
Remerchandise and expand former Gatti-Town Pizza with a 33K SF Nordstrom Rack, a 29K SF Saks OFF Fifth and a 6K SF J Crew Mercantile, reconfigure existing shop space for restaurant use, and shopping center upgrades including common area enhancements
 
131

 
Dec-17
 
9,500

 
4,384

 
9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
7

Maple Village (1)
 
Ann Arbor, MI
 
Redevelopment of center including replacing former Kmart with a 34K SF Stein Mart, a 22K SF Sierra Trading Post, a 20K SF HomeGoods and a 21K SF junior anchor; construction of outparcel retail building; and full shopping center upgrades, including common area enhancements and façade renovations
 
31

 
Jun-18
 
26,800

 
10,575

 
9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
8

Green Acres (2)
 
Saginaw, MI
 
Redevelopment of existing Kroger and adjacent underutilized spaces for a 106K SF Kroger Marketplace and an additional 14K SF of retail space, as well as reconfiguration of remaining small shop space and common area enhancements
 
28

 
Dec-18
 
4,900

 
248

 
10
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL IN PROCESS REDEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE
 
312

 
 
 
$
103,800

 
$
56,172

 
10
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Indicates projects moved to in process redevelopment pipeline from anchor space repositioning pipeline during the three months ended September 30, 2016 primarily due to expanded project scope.
 
 
 
 
 
(2) Indicates project added to in process pipeline during the three months ended September 30, 2016.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The projects listed above are actively being worked on by the Company and reflect projects in which leases have been executed with the tenant(s) listed in the project descriptions. There is no guarantee that the Company will complete any or all of these
opportunities, that the expected total project cost or expected NOI yield will be the amounts shown or that stabilization will occur as anticipated. The expected total project costs, expected NOI yields and anticipated stabilization dates are management's
best estimates based on current information and may change over time. For more information, please refer to the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2015.


Supplemental Disclosure - Three Months Ended September 30, 2016
Page 25
jpgstandardlogoa16.jpg




FUTURE REDEVELOPMENT OPPORTUNITIES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
MSA
 
Project Description
 
 
 
 
 
 
 
 
 
 
MAJOR REDEVELOPMENTS
 
 
 
1

University Mall
 
Sacramento--Roseville--Arden-Arcade, CA
 
Extensive repositioning and reconfiguration with experiential retailers, densification of site, potential residential component
 
 
2

Mira Mesa Mall
 
San Diego-Carlsbad, CA
 
Redevelopment of existing anchor space for multiple retailers and/or entertainment users, potential outparcel development
 
 
3

Mall at 163rd Street
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
Extensive redevelopment and repositioning of shopping center, densification of site, reconfiguration of existing retail space
 
 
4

Miami Gardens
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
Redevelopment of existing anchor space for multiple retailers and/or entertainment users, potential outparcel development
 
 
5

Dolphin Village
 
Tampa-St. Petersburg-Clearwater, FL
 
Remerchandise with experiential retailers, addition of a new anchor prototype, reconfiguration of existing space for new junior anchors and outparcel development
 
 
6

Roosevelt Mall
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
Extensive repositioning and reconfiguration, including vertical component, multiple densification opportunities, including potential residential component
 
 
7

Village at Newtown
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
Redevelopment and repositioning of shopping center, densification of site
 
 
8

Market Plaza
 
Dallas-Fort Worth-Arlington, TX
 
Extensive redevelopment and repositioning of shopping center, remerchandise with multiple retailers
 
 
9

Wynnewood Village
 
Dallas-Fort Worth-Arlington, TX
 
Redevelopment and reconfiguration of existing anchor and inline space, densification of site
 
 
10

Spring Mall
 
Milwaukee-Waukesha-West Allis, WI
 
Extensive redevelopment to reorient the center, with potential outparcel development
 
 
 
 
 
 
 
 
 
 
MINOR REDEVELOPMENTS
 
 
 
1

Arapahoe Crossings
 
Denver-Aurora-Lakewood, CO
 
Repurpose, assemble and reposition to create footprint for national tenant merchandise mix
 
 
2

Northgate Shopping Center
 
Deltona-Daytona Beach-Ormond Beach, FL
 
Redevelopment of existing anchor space for multiple retailers, potential outparcel development
 
 
3

Venetian Isle Shopping Ctr
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
Redevelopment of existing anchor space for new anchor prototype, potential outparcel development
 
 
4

Freedom Square
 
Naples-Immokalee-Marco Island, FL
 
Redevelopment of existing anchor space for multiple retailers and/or entertainment users, potential outparcel development
 
 
5

Marco Town Center
 
Naples-Immokalee-Marco Island, FL
 
Remerchandise with experiential retailers, reconfiguration of common areas for community space
 
 
6

Beneva Village Shoppes
 
North Port-Sarasota-Bradenton, FL
 
Addition of new anchor prototype, address obsolete space and outparcel development, enhancement of common areas
 
 
7

Hunter's Creek Plaza
 
Orlando-Kissimmee-Sanford, FL
 
Reconfiguration of existing footprint to accommodate multiple new retailers, potential outparcel development
 
 
8

Pointe Orlando
 
Orlando-Kissimmee-Sanford, FL
 
Redevelopment, densification and rebranding for multiple new retailers and/or entertainment users
 
 
9

Tinley Park Plaza
 
Chicago-Naperville-Elgin, IL-IN-WI
 
Reconfiguration of existing footprint to accommodate multiple retailers, potential entertainment uses and outparcel development
 
 
10

Speedway Super Center
 
Indianapolis-Carmel-Anderson, IN
 
Reconfiguration of existing footprint to accommodate multiple new anchors, rebranding of center, potential outparcel development
 
 
11

Sagamore Park Centre
 
Lafayette-West Lafayette, IN
 
Expansion of anchor space, remerchandise existing in-line space
 
 
12

Webster Square Shopping Center
Boston-Cambridge-Newton, MA-NH
 
Redevelopment of existing pad building to accommodate multiple new retailers
 
 
13

Roseville Center
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
Reconfigure and repurpose obsolete space with new merchandise mix
 
 
14

Ellisville Square
 
St. Louis, MO-IL
 
Redevelopment of existing anchor space for multiple retailers, potential outparcel development
 
 
15

Franklin Square
 
Charlotte-Concord-Gastonia, NC-SC
 
Redevelopment of existing anchor space for new anchor and in-line tenancy
 
 
16

Devonshire Place
 
Raleigh, NC
 
Repurpose, assemble and reposition to create footprint for national retailers
 
 
17

Hamilton Plaza
 
Trenton, NJ
 
Redevelopment of existing anchor space for multiple retailers, potential outparcel development
 
 
18

ShopRite Supermarket
 
New York-Newark-Jersey City, NY-NJ-PA
 
Redevelopment of existing pad building to accommodate multiple new retailers
 
 
19

Falcaro's Plaza
 
New York-Newark-Jersey City, NY-NJ-PA
 
Reorient and repurpose anchor space and additional building to leverage power corner location, densification of site
 
 
20

Mamaroneck Centre
 
New York-Newark-Jersey City, NY-NJ-PA
 
Redevelopment of existing pad building to accommodate multiple new retailers
 
 
21

Collegeville Shopping Center
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
Redevelopment of existing anchor space for multiple retailers, potential outparcel development
 
 
22

Marlton Crossing
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
Redevelopment of oversized anchor, remerchandise with experiential retailers, densification of site
 
 
23

The Commons at Wolfcreek
 
Memphis, TN-MS-AR
 
Redevelopment of existing anchor space for multiple anchor retailers, potential outparcel development
 
 
24

Texas City Bay
 
Houston-The Woodlands-Sugar Land, TX
 
Redevelopment of vacant anchor space with combination of anchor and small shop space, densification of site
 
 
25

Hanover Square
 
Richmond, VA
 
Redevelopment of existing anchor space for multiple retailers, potential outparcel development
 
 
 
 
 
 
 
 
 
The Company has identified the properties above as potential future reinvestment opportunities. Many of these opportunities are, or will soon be, in preliminary planning phases and as such, may not ultimately become active reinvestments. Proceeding with
these reinvestments could be subject to factors outside of the Company’s control which could delay, suspend or defer the expected opportunity or timing of execution. While the Company expects that these projects are the most likely to become active
reinvestments in the near-term, it should be noted that this list will fluctuate as projects become active, suspended or otherwise rescheduled. For more information, please refer to the “Risk Factors” section of the Company’s Annual Report on Form 10-K
for the year ended December 31, 2015.

Supplemental Disclosure - Three Months Ended September 30, 2016
Page 26
jpgstandardlogoa16.jpg




 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PORTFOLIO SUMMARY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure
Three Months Ended September 30, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Includes unconsolidated joint venture, Montecito Marketplace, at 100%
 





PORTFOLIO OVERVIEW
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands, except ABR per square foot
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of:
 
 
 
 
 
 
 
 
 
9/30/16
 
6/30/16
 
3/31/16
 
12/31/15
 
9/30/15
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of properties
 
 
514

 
516

 
518

 
518

 
519

 
 
 
 
 
GLA
 
 
86,295,214

 
86,446,148

 
86,669,873

 
86,615,572

 
86,696,827

 
 
 
 
 
Percent billed
 
 
90.6
%
 
90.6
%
 
90.4
%
 
91.0
%
 
90.9
%
 
 
 
 
 
Percent leased
 
 
92.6
%
 
92.8
%
 
92.4
%
 
92.6
%
 
92.6
%
 
 
 
 
 
 
TOTAL ≥ 10,000 SF
 
 
95.8
%
 
96.4
%
 
95.9
%
 
96.2
%
 
96.2
%
 
 
 
 
 
 
TOTAL < 10,000 SF
 
 
85.0
%
 
84.2
%
 
83.9
%
 
84.3
%
 
84.0
%
 
 
 
 
 
ABR
 
 
 
$
953,696

 
$
952,653

 
$
951,163

 
$
945,667

 
$
939,293

 
 
 
 
 
ABR/SF
 
 
$
12.90

 
$
12.85

 
$
12.85

 
$
12.76

 
$
12.68

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PORTFOLIO BY UNIT SIZE AS OF 9/30/16
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of
Units
 
GLA
 
Percent Billed
 
Percent Leased
 
Percent of Vacant GLA
 
 ABR
 
ABR/SF
 
 
 
 
≥ 35,000 SF
577

 
35,836,712

 
96.7
%
 
97.5
%
 
13.7
%
 
$
276,584

 
$
9.19

 
 
 
 
20,000 – 34,999 SF
556

 
14,634,229

 
93.1
%
 
95.3
%
 
10.8
%
 
135,710

 
9.88

 
 
 
 
10,000 - 19,999 SF
                  753

 
10,260,937

 
87.5
%
 
90.3
%
 
15.5
%
 
116,348

 
12.88

 
 
 
 
5,000 - 9,999 SF
1,374

 
9,461,562

 
83.3
%
 
86.3
%
 
20.3
%
 
127,696

 
16.27

 
 
 
 
< 5,000 SF
7,763

 
16,101,774

 
81.1
%
 
84.2
%
 
39.7
%
 
297,358

 
22.48

 
 
 
 
TOTAL
11,023

 
86,295,214

 
90.6
%
 
92.6
%
 
100.0
%
 
$
953,696

 
$
12.90

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL ≥ 10,000 SF
1,886

 
60,731,878

 
94.3
%
 
95.8
%
 
40.0
%
 
$
528,642

 
$
10.00

 
 
 
 
TOTAL < 10,000 SF
9,137

 
25,563,336

 
81.9
%
 
85.0
%
 
60.0
%
 
425,054

 
20.17

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




Supplemental Disclosure - Three Months Ended September 30, 2016
Page 28
jpgstandardlogoa16.jpg




TOP FORTY RETAILERS RANKED BY ABR
Dollars in thousands
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Retailer
 
 
 
Owned Leases
 
Leased GLA
 
Percent of Total
Portfolio GLA
 
Leased ABR
 
Percent of Portfolio Leased ABR
 
 
 
1
The Kroger Co. (1)
 
 
 
71

 
4,621,572

 
5.4
%
 
$
31,806

 
3.3
%
 
 
 
2
The TJX Companies, Inc. (2)
 
 
93

 
2,892,324

 
3.4
%
 
30,201

 
3.2
%
 
 
 
3
Dollar Tree Stores, Inc. (3)
 
 
 
167

 
1,867,255

 
2.2
%
 
18,690

 
2.0
%
 
 
 
4
Ahold Delhaize (4)
 
 
 
32

 
1,680,551

 
1.9
%
 
17,580

 
1.8
%
 
 
 
5
Wal-Mart Stores, Inc. (5)
 
 
 
29

 
3,548,000

 
4.1
%
 
16,904

 
1.8
%
 
 
 
6
Publix Super Markets, Inc.
 
 
 
39

 
1,802,591

 
2.1
%
 
16,681

 
1.7
%
 
 
 
7
Albertsons Companies, Inc. (6)
 
 
23

 
1,294,287

 
1.5
%
 
13,804

 
1.4
%
 
 
 
8
Burlington Stores, Inc.
 
 
 
19

 
1,405,122

 
1.6
%
 
10,776

 
1.1
%
 
 
 
9
Bed Bath & Beyond Inc. (7)
 
 
 
31

 
761,216

 
0.9
%
 
9,448

 
1.0
%
 
 
 
10
PetSmart, Inc. (8)
 
 
 
30

 
652,714

 
0.8
%
 
9,371

 
1.0
%
 
 
 
 
TOP 10 RETAILERS
 
 
 
534

 
20,525,632

 
23.9
%
 
175,261

 
18.3
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11
Big Lots, Inc.
 
 
 
46

 
1,527,517

 
1.8
%
 
9,368

 
1.0
%
 
 
 
12
Ross Stores, Inc. (9)
 
 
 
31

 
860,356

 
1.0
%
 
9,366

 
1.0
%
 
 
 
13
Sears Holdings Corporation (10)
 
 
22

 
2,058,756

 
2.4
%
 
9,102

 
1.0
%
 
 
 
14
Best Buy Co., Inc.
 
 
 
16

 
660,392

 
0.8
%
 
8,967

 
0.9
%
 
 
 
15
Office Depot, Inc. (11)
 
 
 
34

 
758,207

 
0.9
%
 
8,336

 
0.9
%
 
 
 
16
PETCO Animal Supplies, Inc. (12)
 
 
34

 
450,480

 
0.5
%
 
7,491

 
0.8
%
 
 
 
17
Kohl's Corporation
 
 
 
12

 
1,002,715

 
1.2
%
 
7,335

 
0.8
%
 
 
 
18
Party City Corporation
 
 
 
35

 
492,998

 
0.6
%
 
7,216

 
0.8
%
 
 
 
19
DICK'S Sporting Goods, Inc. (13)
 
 
13

 
542,121

 
0.6
%
 
6,962

 
0.7
%
 
 
 
20
Staples, Inc.
 
 
 
28

 
586,564

 
0.7
%
 
6,944

 
0.7
%
 
 
 
 
TOP 20 RETAILERS
 
 
 
805

 
29,465,738

 
34.4
%
 
256,348

 
26.9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
21
L.A. Fitness International, LLC
 
 
11

 
429,035

 
0.5
%
 
6,452

 
0.7
%
 
 
 
22
Mattress Firm, Inc. (14)
 
 
 
49

 
284,387

 
0.3
%
 
6,286

 
0.7
%
 
 
 
23
Ascena Retail Group, Inc. (15)
 
 
54

 
325,657

 
0.4
%
 
6,209

 
0.7
%
 
 
 
24
Hobby Lobby Stores, Inc.
 
 
 
15

 
918,619

 
1.1
%
 
5,950

 
0.6
%
 
 
 
25
The Home Depot, Inc.
 
 
 
8

 
799,388

 
0.9
%
 
5,755

 
0.6
%
 
 
 
26
Michaels Stores, Inc.
 
 
 
24

 
529,205

 
0.6
%
 
5,637

 
0.6
%
 
 
 
27
Giant Eagle, Inc.
 
 
 
7

 
555,560

 
0.6
%
 
5,591

 
0.6
%
 
 
 
28
Southeastern Grocers (16)
 
 
 
15

 
706,283

 
0.8
%
 
5,380

 
0.6
%
 
 
 
29
H.E. Butt Grocery Company (17)
 
 
7

 
419,204

 
0.5
%
 
5,262

 
0.6
%
 
 
 
30
CVS Health
 
 
 
23

 
309,120

 
0.4
%
 
5,016

 
0.5
%
 
 
 
31
Walgreen Co.
 
 
 
20

 
289,244

 
0.3
%
 
4,810

 
0.5
%
 
 
 
32
ULTA Beauty (18)
 
 
 
19

 
217,900

 
0.3
%
 
4,603

 
0.5
%
 
 
 
33
Jo-Ann Stores, Inc.
 
 
 
24

 
447,990

 
0.5
%
 
4,370

 
0.5
%
 
 
 
34
Sally Beauty Holdings, Inc.
 
 
 
115

 
193,775

 
0.2
%
 
4,254

 
0.4
%
 
 
 
35
Gap, Inc. (19)
 
 
 
16

 
257,085

 
0.3
%
 
4,205

 
0.4
%
 
 
 
36
Payless ShoeSource
 
 
 
66

 
202,647

 
0.2
%
 
4,151

 
0.4
%
 
 
 
37
Beall's, Inc. (20)
 
 
 
25

 
579,116

 
0.7
%
 
4,076

 
0.4
%
 
 
 
38
DSW Inc.
 
 
 
13

 
243,787

 
0.3
%
 
4,018

 
0.4
%
 
 
 
39
Stein Mart, Inc.
 
 
 
13

 
459,393

 
0.5
%
 
4,003

 
0.4
%
 
 
 
40
Barnes & Noble, Inc.
 
 
 
10

 
224,673

 
0.3
%
 
3,983

 
0.4
%
 
 
 
 
TOTAL TOP 40 RETAILERS
 
 
1,339

 
37,857,806

 
44.1
%
 
$
356,359

 
37.4
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Includes Kroger (55), Harris Teeter (3), King Soopers (3), Ralphs (2), Smith's (2),
 
 
(6) Includes Vons (4), Albertsons (3), Acme (3), Randalls (3), Tom Thumb (2), Dominick's (2),
(14) Includes Sleepy's (27) and Mattress Firm (22).
Pick ' N Save (2), Dillons (1), Food 4 Less (1) and Pay Less (1).
 
 
 
Shaw's (2), Jewel-Osco (1), Shop & Save Market (1), Star Market (1) and $.99 Only Store (1).
(15) Includes dressbarn (21), Catherines (11), Lane Bryant (8),
(2) Includes T.J. Maxx (48), Marshalls (35), HomeGoods (9) and Sierra Trading Post (1).
 
 
(7) Includes Bed Bath & Beyond (17), Harmon Face Values (6), Christmas Tree Shops (4),
Justice (7), maurices (6) and Ann Taylor (1).
Excludes Marshalls / HomeGoods at development property.
 
 
 
Cost Plus World Market (2) and buybuy BABY (2).
 
 
(16) Includes Winn-Dixie (9), BI-LO (3) and Harveys (3).
(3) Includes Dollar Tree (130), Family Dollar (35), Deals (1) and Dollar Stop (1).
 
 
(8) Excludes PetSmart at development property.
 
 
(17) Includes H-E-B (6) and Central Market (1).
(4) Includes Giant Food (9), Food Lion (8), Super Stop & Shop (7), Martin's Food Markets (2),
(9) Includes Ross Dress for Less (29) and dd's Discounts (2).
 
 
(18) Excludes ULTA at development property.
Hannaford (2), Bottom Dollar Food (1), ShopRite (1), Stop & Shop (1) and Tops (1).
 
 
(10) Includes Kmart (18), Sears (2), Sears Essentials (1) and Sears Outlet (1).
(19) Includes Old Navy (12), GAP Factory (2), GAP (1) and
(5) Includes Supercenters (14), Discount Stores (9), Walmart Neighborhood
 
 
 
(11) Includes Office Depot (18) and OfficeMax (16).
 
 
Banana Republic Factory (1).
Market (5) and Sam's Club (1).
 
 
 
(12) Includes PETCO (33) and Unleashed (1).
 
 
 
(20) Includes Beall's Outlet (12), Burke's Outlet (9), Burke's (2),
 
 
 
 
 
 
 
 
(13) Includes DICK'S Sporting Goods (10) and Golf Galaxy (3).
 
 
and Beall's Department Store (2).

Supplemental Disclosure - Three Months Ended September 30, 2016
Page 29
jpgstandardlogoa16.jpg




NEW & RENEWAL LEASE SUMMARY
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Tenant Improvements PSF (1)
 
Third Party Leasing Commissions PSF
 
Weighted Average Lease Term (years)
 
Comparable Only
 
 
 
 
 
 
Leases
 
GLA
 
New ABR
 
New ABR/SF
 
 
 
 
Leases
 
GLA
 
New ABR/SF
 
Old ABR/SF
 
Rent
Spread
 
 
 
 
TOTAL - NEW, RENEWAL & OPTION
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 9/30/16
 
513

 
3,548,517

 
$
41,899

 
$
11.81

 
$
5.02

 
$
0.79

 
5.5

 
390

 
2,981,503

 
$
11.38

 
$
10.26

 
10.9
%
 
 
 
 
Three months ended 6/30/16
 
554

 
3,589,288

 
47,278

 
13.17

 
5.02

 
1.00

 
6.2

 
435

 
3,089,607

 
13.06

 
11.65

 
12.1
%
 
 
 
 
Three months ended 3/31/16
 
497

 
3,571,385

 
47,678

 
13.35

 
5.24

 
0.65

 
5.9

 
396

 
3,125,180

 
13.17

 
11.88

 
10.9
%
 
 
 
 
Three months ended 12/31/15
 
554

 
3,882,618

 
47,801

 
12.31

 
6.98

 
0.65

 
5.4

 
457

 
3,523,206

 
12.08

 
10.52

 
14.8
%
 
 
 
 
TOTAL - TTM
 
2,118

 
14,591,808

 
$
184,656

 
$
12.65

 
$
5.60

 
$
0.77

 
5.7

 
1,678

 
12,719,496

 
$
12.42

 
$
11.07

 
12.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NEW & RENEWAL ONLY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 9/30/16
 
420

 
2,042,244

 
$
27,362

 
$
13.40

 
$
8.72

 
$
1.38

 
5.9

 
297

 
1,475,230

 
$
13.14

 
$
11.46

 
14.7
%
 
 
 
 
Three months ended 6/30/16
 
467

 
2,066,939

 
32,408

 
15.68

 
8.73

 
1.74

 
7.1

 
348

 
1,567,258

 
16.25

 
14.06

 
15.6
%
 
 
 
 
Three months ended 3/31/16
 
402

 
1,780,225

 
28,131

 
15.80

 
10.52

 
1.31

 
7.1

 
301

 
1,334,020

 
16.21

 
13.94

 
16.3
%
 
 
 
 
Three months ended 12/31/15
 
465

 
2,459,283

 
35,472

 
14.42

 
10.99

 
1.03

 
5.7

 
368

 
2,099,871

 
14.40

 
12.16

 
18.4
%
 
 
 
 
TOTAL - TTM
 
1,754

 
8,348,691

 
$
123,373

 
$
14.78

 
$
9.77

 
$
1.35

 
6.4

 
1,314

 
6,476,379

 
$
14.93

 
$
12.83

 
16.4
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NEW LEASES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 9/30/16
 
191

 
834,401

 
$
12,955

 
$
15.53

 
$
20.83

 
$
3.37

 
8.4

 
68

 
267,387

 
$
18.59

 
$
14.73

 
26.2
%
 
 
 
 
Three months ended 6/30/16
 
209

 
893,212

 
14,079

 
15.76

 
19.52

 
3.86

 
8.9

 
90

 
393,531

 
18.16

 
14.56

 
24.7
%
 
 
 
 
Three months ended 3/31/16
 
169

 
852,315

 
12,687

 
14.89

 
21.46

 
2.58

 
9.2

 
68

 
406,110

 
15.22

 
11.28

 
34.9
%
 
 
 
 
Three months ended 12/31/15
 
163

 
759,377

 
12,054

 
15.87

 
25.44

 
3.27

 
8.5

 
66

 
399,965

 
17.03

 
13.11

 
29.9
%
 
 
 
 
TOTAL - TTM
 
732

 
3,339,305

 
$
51,775

 
$
15.50

 
$
21.69

 
$
3.28

 
8.8

 
292

 
1,466,993

 
$
17.12

 
$
13.29

 
28.8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
RENEWAL LEASES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 9/30/16
 
229

 
1,207,843

 
$
14,407

 
$
11.93

 
$
0.35

 
$

 
4.1

 
229

 
1,207,843

 
$
11.93

 
$
10.73

 
11.2
%
 
 
 
 
Three months ended 6/30/16
 
258

 
1,173,727

 
18,329

 
15.62

 
0.51

 
0.13

 
5.8

 
258

 
1,173,727

 
15.62

 
13.89

 
12.5
%
 
 
 
 
Three months ended 3/31/16
 
233

 
927,910

 
15,444

 
16.64

 
0.46

 
0.14

 
5.1

 
233

 
927,910

 
16.64

 
15.11

 
10.1
%
 
 
 
 
Three months ended 12/31/15
 
302

 
1,699,906

 
23,418

 
13.78

 
4.54

 
0.03

 
4.5

 
302

 
1,699,906

 
13.78

 
11.93

 
15.5
%
 
 
 
 
TOTAL - TTM
 
1,022

 
5,009,386

 
$
71,598

 
$
14.29

 
$
1.83

 
$
0.07

 
4.8

 
1,022

 
5,009,386

 
$
14.29

 
$
12.69

 
12.6
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
OPTION LEASES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended 9/30/16
 
93

 
1,506,273

 
$
14,537

 
$
9.65

 
$

 
$

 
5.0

 
93

 
1,506,273

 
$
9.65

 
$
9.09

 
6.2
%
 
 
 
 
Three months ended 6/30/16
 
87

 
1,522,349

 
14,870

 
9.77

 

 

 
5.0

 
87

 
1,522,349

 
9.77

 
9.18

 
6.4
%
 
 
 
 
Three months ended 3/31/16
 
95

 
1,791,160

 
19,547

 
10.91

 

 

 
4.7

 
95

 
1,791,160

 
10.91

 
10.34

 
5.5
%
 
 
 
 
Three months ended 12/31/15
 
89

 
1,423,335

 
12,329

 
8.66

 
0.04

 

 
4.9

 
89

 
1,423,335

 
8.66

 
8.10

 
6.9
%
 
 
 
 
TOTAL - TTM
 
364

 
6,243,117

 
$
61,283

 
$
9.82

 
$
0.01

 
$

 
4.9

 
364

 
6,243,117

 
$
9.82

 
$
9.25

 
6.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
LEASES BY ANCHOR AND SMALL SHOP
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended 9/30/16
 
 
 
TTM Ended 9/30/16
 
 
 
 
 
 
 
 
% of Leases
 
% of GLA
 
% of ABR
 
New ABR/SF
 
Rent Spread (2)
 
 
 
% of Leases
 
% of GLA
 
% of ABR
 
New ABR/SF
 
Rent Spread (2)
 
 
 
Anchor Leases (≥ 10,000 SF)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total - New, Renewal & Option
 
 
14
%
 
66
%
 
45
%
 
$
8.00

 
7.6
%
 
 
 
15
%
 
67
%
 
48
%
 
$
9.12

 
10.2
%
 
 
 
 
New & Renewal Only
 
 
 
8
%
 
51
%
 
31
%
 
8.10

 
12.2
%
 
 
 
10
%
 
51
%
 
36
%
 
10.23

 
17.4
%
 
 
 
 
New Leases
 
 
 
8
%
 
42
%
 
33
%
 
12.10

 
42.2
%
 
 
 
10
%
 
48
%
 
38
%
 
12.32

 
37.0
%
 
 
 
 
Renewal Leases
 
 
 
7
%
 
58
%
 
29
%
 
6.09

 
6.1
%
 
 
 
9
%
 
54
%
 
34
%
 
9.02

 
10.1
%
 
 
 
 
Option Leases
 
 
 
42
%
 
87
%
 
71
%
 
7.92

 
5.3
%
 
 
 
39
%
 
87
%
 
73
%
 
8.23

 
4.8
%
 
 
 
Small Shop Leases (< 10,000 SF)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total - New, Renewal & Option
 
 
86
%
 
34
%
 
55
%
 
$
19.27

 
13.8
%
 
 
 
85
%
 
33
%
 
52
%
 
$
19.68

 
14.5
%
 
 
 
 
New & Renewal Only
 
 
 
92
%
 
49
%
 
69
%
 
18.95

 
15.6
%
 
 
 
90
%
 
49
%
 
64
%
 
19.59

 
15.9
%
 
 
 
 
New Leases
 
 
 
92
%
 
58
%
 
67
%
 
18.00

 
22.0
%
 
 
 
90
%
 
52
%
 
62
%
 
18.40

 
22.7
%
 
 
 
 
Renewal Leases
 
 
 
93
%
 
42
%
 
71
%
 
19.85

 
13.4
%
 
 
 
91
%
 
46
%
 
66
%
 
20.51

 
14.0
%
 
 
 
 
Option Leases
 
 
 
58
%
 
13
%
 
29
%
 
20.86

 
7.9
%
 
 
 
61
%
 
13
%
 
27
%
 
20.07

 
9.6
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Excludes landlord work.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(2) Comparable leases only.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Includes development properties. Excludes leases executed for less than one year.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ABR/SF includes the GLA of lessee owned leasehold improvements.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2016
Page 30
jpgstandardlogoa16.jpg




NEW LEASE NET EFFECTIVE RENT
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Twelve Months Ended
 
Three Months Ended
 
 
 
 
 
9/30/16
 
9/30/16
 
6/30/16
 
3/31/16
 
12/31/15
 
 
NEW LEASES
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average over lease term:
 
 
 
 
 
 
 
 
 
 
 
 
 
Base rent
 
$
16.58

 
$
16.62

 
$
16.90

 
$
15.63

 
$
17.24

 
 
 
TI/TA allowance
 
(2.48
)
 
(2.39
)
 
(2.29
)
 
(2.39
)
 
(2.90
)
 
 
 
Tenant specific landlord work
 
(0.24
)
 
(0.25
)
 
(0.25
)
 
(0.20
)
 
(0.26
)
 
 
 
Third party leasing commissions
 
(0.37
)
 
(0.39
)
 
(0.40
)
 
(0.30
)
 
(0.38
)
 
 
 
Rent concessions
 

 

 

 

 

 
 
EQUIVALENT NET EFFECTIVE RENT
 
$
13.49

 
$
13.59

 
$
13.96

 
$
12.74

 
$
13.70

 
 
Net effective rent / base rent
 
81
%
 
82
%
 
83
%
 
82
%
 
79
%
 
 
Weighted average term (years)
 
8.8

 
8.4

 
8.9

 
9.2

 
8.5

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PERCENT OF TOTAL EQUIVALENT NET EFFECTIVE RENT BY ANCHOR AND SMALL SHOP
 
 
 
 
 
 
 
≥ 10,000 SF
 
36
%
 
31
%
 
36
%
 
38
%
 
39
%
 
 
 
< 10,000 SF
 
64
%
 
69
%
 
64
%
 
62
%
 
61
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Includes development properties.
 
 
 
 
 
 
 
 
 
 
 
ABR/SF includes the GLA of lessee owned leasehold improvements.
 
 
 
 
 
 
 
 
 
 
 


Supplemental Disclosure - Three Months Ended September 30, 2016
Page 31
jpgstandardlogoa16.jpg




LEASE EXPIRATION SCHEDULE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ASSUMES NO EXERCISE OF RENEWAL OPTIONS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL PORTFOLIO
 
 
SPACES > 10,000 SF
 
 
SPACES < 10,000 SF
 
 
 
 
Number
 
 
 
% of
 
% of
 
 
 
ABR/SF
 
 
Number
 
 
 
% of
 
% of
 
 
 
ABR/SF
 
 
Number
 
 
 
% of
 
% of
 
 
 
ABR/SF
 
 
 
 
of
 
Leased
 
Leased
 
In-Place
 
In-place
 
at
 
 
of
 
Leased
 
Leased
 
In-Place
 
In-place
 
at
 
 
of
 
Leased
 
Leased
 
In-Place
 
In-place
 
at
 
 
 
 
Leases
 
GLA
 
GLA
 
ABR
 
ABR/SF
 
Expiration
 
 
Leases
 
GLA
 
GLA
 
ABR
 
ABR/SF
 
Expiration
 
 
Leases
 
GLA
 
GLA
 
ABR
 
ABR/SF
 
Expiration
 
 
M-M
 
359

 
996,230

 
1.2
%
 
1.5
%
 
$
13.97

 
$
13.97

 
 
14

 
252,673

 
0.4
%
 
0.5
%
 
$
9.71

 
$
9.71

 
 
345

 
743,557

 
3.4
%
 
2.7
%
 
$
15.41

 
$
15.41

 
 
2016
 
360

 
1,575,043

 
2.0
%
 
2.2
%
 
13.26

 
13.26

 
 
26

 
764,291

 
1.3
%
 
1.3
%
 
9.00

 
9.00

 
 
334

 
810,752

 
3.7
%
 
3.3
%
 
17.27

 
17.29

 
 
2017
 
1,548

 
8,670,206

 
10.9
%
 
11.3
%
 
12.45

 
12.48

 
 
175

 
5,204,895

 
8.9
%
 
8.1
%
 
8.20

 
8.21

 
 
1,373

 
3,465,311

 
16.0
%
 
15.4
%
 
18.83

 
18.89

 
 
2018
 
1,574

 
10,286,793

 
12.9
%
 
13.5
%
 
12.50

 
12.63

 
 
217

 
6,738,007

 
11.6
%
 
11.5
%
 
9.00

 
9.04

 
 
1,357

 
3,548,786

 
16.3
%
 
16.0
%
 
19.16

 
19.44

 
 
2019
 
1,439

 
10,840,733

 
13.6
%
 
13.2
%
 
11.65

 
11.83

 
 
221

 
7,494,757

 
12.9
%
 
12.1
%
 
8.51

 
8.56

 
 
1,218

 
3,345,976

 
15.4
%
 
14.7
%
 
18.67

 
19.18

 
 
2020
 
1,213

 
11,029,213

 
13.8
%
 
13.0
%
 
11.26

 
11.49

 
 
240

 
8,360,064

 
14.4
%
 
13.3
%
 
8.42

 
8.50

 
 
973

 
2,669,149

 
12.3
%
 
12.6
%
 
20.13

 
20.86

 
 
2021
 
1,064

 
10,210,806

 
12.8
%
 
12.3
%
 
11.53

 
11.97

 
 
228

 
7,749,815

 
13.3
%
 
13.2
%
 
8.97

 
9.11

 
 
836

 
2,460,991

 
11.3
%
 
11.3
%
 
19.58

 
20.95

 
 
2022
 
450

 
5,992,612

 
7.5
%
 
6.8
%
 
10.83

 
11.58

 
 
147

 
4,924,140

 
8.5
%
 
8.2
%
 
8.77

 
9.20

 
 
303

 
1,068,472

 
4.9
%
 
5.1
%
 
20.32

 
22.57

 
 
2023
 
295

 
3,705,779

 
4.6
%
 
4.1
%
 
10.51

 
11.32

 
 
93

 
2,942,429

 
5.1
%
 
4.5
%
 
8.14

 
8.59

 
 
202

 
763,350

 
3.5
%
 
3.5
%
 
19.64

 
21.84

 
 
2024
 
300

 
3,435,620

 
4.3
%
 
4.6
%
 
12.71

 
13.90

 
 
93

 
2,671,406

 
4.6
%
 
5.2
%
 
10.24

 
10.95

 
 
207

 
764,214

 
3.5
%
 
3.8
%
 
21.32

 
24.21

 
 
2025+
885

 
13,148,324

 
16.5
%
 
17.5
%
 
12.68

 
14.24

 
 
311

 
11,066,671

 
19.0
%
 
22.3
%
 
10.64

 
11.69

 
 
574

 
2,081,653

 
9.6
%
 
11.5
%
 
23.52

 
27.80

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ASSUMES EXERCISE OF ALL RENEWAL OPTIONS (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL PORTFOLIO
 
 
SPACES > 10,000 SF
 
 
SPACES < 10,000 SF
 
 
 
 
Number
 
 
 
% of
 
% of
 
 
 
ABR/SF
 
 
Number
 
 
 
% of
 
% of
 
 
 
ABR/SF
 
 
Number
 
 
 
% of
 
% of
 
 
 
ABR/SF
 
 
 
 
of
 
Leased
 
Leased
 
In-Place
 
In-place
 
at
 
 
of
 
Leased
 
Leased
 
In-Place
 
In-place
 
at
 
 
of
 
 
 
Leased
 
In-Place
 
In-place
 
at
 
 
 
 
Leases
 
GLA
 
GLA
 
ABR
 
ABR/SF
 
Expiration
 
 
Leases
 
GLA
 
GLA
 
ABR
 
ABR/SF
 
Expiration
 
 
Leases
 
GLA
 
GLA
 
ABR
 
ABR/SF
 
Expiration
 
 
M-M
 
359

 
996,230

 
1.2
%
 
1.5
%
 
$
13.97

 
$
13.97

 
 
14

 
252,673

 
0.4
%
 
0.5
%
 
$
9.71

 
$
9.71

 
 
345

 
743,557

 
3.4
%
 
2.7
%
 
$
15.41

 
$
15.41

 
 
2016
 
292

 
990,871

 
1.2
%
 
1.5
%
 
14.30

 
14.30

 
 
15

 
350,578

 
0.6
%
 
0.6
%
 
8.87

 
8.87

 
 
277

 
640,293

 
2.9
%
 
2.6
%
 
17.27

 
17.27

 
 
2017
 
1,073

 
3,574,778

 
4.5
%
 
5.4
%
 
14.44

 
14.50

 
 
57

 
1,189,954

 
2.0
%
 
1.7
%
 
7.66

 
7.71

 
 
1,016

 
2,384,824

 
11.0
%
 
10.0
%
 
17.83

 
17.89

 
 
2018
 
935

 
3,056,991

 
3.8
%
 
5.0
%
 
15.73

 
15.97

 
 
52

 
1,125,693

 
1.9
%
 
2.1
%
 
9.64

 
9.76

 
 
883

 
1,931,298

 
8.9
%
 
8.8
%
 
19.28

 
19.60

 
 
2019
 
844

 
3,178,393

 
4.0
%
 
4.8
%
 
14.37

 
14.81

 
 
49

 
1,245,387

 
2.1
%
 
1.9
%
 
8.19

 
8.35

 
 
795

 
1,933,006

 
8.9
%
 
8.3
%
 
18.35

 
18.98

 
 
2020
 
736

 
3,081,353

 
3.9
%
 
4.8
%
 
14.85

 
15.42

 
 
49

 
1,395,088

 
2.4
%
 
2.2
%
 
8.47

 
8.67

 
 
687

 
1,686,265

 
7.8
%
 
8.0
%
 
20.13

 
21.01

 
 
2021
 
685

 
2,545,738

 
3.2
%
 
4.3
%
 
15.95

 
17.26

 
 
44

 
909,431

 
1.6
%
 
1.8
%
 
10.28

 
10.82

 
 
641

 
1,636,307

 
7.5
%
 
7.4
%
 
19.11

 
20.84

 
 
2022
 
426

 
1,962,479

 
2.5
%
 
3.2
%
 
15.77

 
17.33

 
 
41

 
843,001

 
1.4
%
 
1.6
%
 
9.76

 
10.61

 
 
385

 
1,119,478

 
5.2
%
 
5.3
%
 
20.29

 
22.39

 
 
2023
 
438

 
2,355,418

 
2.9
%
 
3.5
%
 
14.14

 
15.62

 
 
49

 
1,148,821

 
2.0
%
 
1.8
%
 
8.47

 
9.35

 
 
389

 
1,206,597

 
5.6
%
 
5.5
%
 
19.54

 
21.59

 
 
2024
 
409

 
2,580,009

 
3.2
%
 
3.4
%
 
12.45

 
13.89

 
 
51

 
1,514,437

 
2.6
%
 
2.2
%
 
7.64

 
8.35

 
 
358

 
1,065,572

 
4.9
%
 
4.8
%
 
19.29

 
21.76

 
 
2025+
3,290

 
55,569,099

 
69.6
%
 
62.6
%
 
10.75

 
15.66

 
 
1,344

 
48,194,085

 
82.9
%
 
83.7
%
 
9.18

 
13.92

 
 
1,946

 
7,375,014

 
34.0
%
 
36.5
%
 
21.05

 
27.05

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(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 the GLA of lessee owned leasehold improvements.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
LEASE RETENTION RATE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
By Count

 
By GLA
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Twelve Months Ended 9/30/16
 
 
 
78.6%
 
84.5%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




Supplemental Disclosure - Three Months Ended September 30, 2016
Page 32
jpgstandardlogoa16.jpg




PROPERTIES BY LARGEST US MSAs
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent of
 
 
 
 
 
 
 
 
 
 
 
Number of
 
 
 
Percent
 
Percent
 
 
 
 
 
Number of
 
Percent
 
Percent
 
 
 
Largest US MSAs by 2015 Population
 
 
 
Properties
 
 GLA
 
Billed
 
Leased
 
 ABR
 
 ABR / SF
 
Properties
 
of GLA
 
of ABR
 
 
1

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

 
3,633,095

 
88.8
%
 
91.5
%
 
$
64,157

 
$
19.52

 
5.8
%
 
4.2
%
 
6.7
%
 
 
2

Los Angeles-Long Beach-Anaheim, CA
 
 
 
9

 
1,684,984

 
98.2
%
 
99.2
%
 
29,268

 
19.22

 
1.8
%
 
2.0
%
 
3.1
%
 
 
3

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

 
4,020,459

 
90.3
%
 
91.4
%
 
45,680

 
12.96

 
3.1
%
 
4.7
%
 
4.8
%
 
 
4

Dallas-Fort Worth-Arlington, TX
 
 
 
16

 
3,088,797

 
91.1
%
 
94.2
%
 
43,609

 
15.16

 
3.1
%
 
3.6
%
 
4.6
%
 
 
5

Houston-The Woodlands-Sugar Land, TX
 
 
 
36

 
4,530,424

 
89.0
%
 
91.3
%
 
46,620

 
11.74

 
7.0
%
 
5.2
%
 
4.9
%
 
 
6

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

 
451,260

 
98.3
%
 
99.7
%
 
5,001

 
11.11

 
0.6
%
 
0.5
%
 
0.5
%
 
 
7

Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
 
 
28

 
4,307,425

 
92.2
%
 
94.4
%
 
55,966

 
15.67

 
5.4
%
 
5.0
%
 
5.9
%
 
 
8

Miami-Fort Lauderdale-West Palm Beach, FL
 
 
 
10

 
1,693,416

 
88.1
%
 
90.1
%
 
20,510

 
14.00

 
1.9
%
 
2.0
%
 
2.2
%
 
 
9

Atlanta-Sandy Springs-Roswell, GA
 
 
 
25

 
3,663,048

 
89.8
%
 
91.4
%
 
35,463

 
10.90

 
4.9
%
 
4.2
%
 
3.7
%
 
 
10

Boston-Cambridge-Newton, MA-NH
 
 
 
6

 
710,309

 
85.8
%
 
89.2
%
 
8,056

 
13.02

 
1.2
%
 
0.8
%
 
0.8
%
 
 
 
Top 10 Largest US MSAs by Population
 
 
 
179

 
27,783,217

 
90.6
%
 
92.7
%
 
354,330

 
14.44

 
34.8
%
 
32.2
%
 
37.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11

San Francisco-Oakland-Hayward, CA
 
 
 
2

 
478,046

 
94.0
%
 
96.9
%
 
9,019

 
24.58

 
0.4
%
 
0.6
%
 
0.9
%
 
 
12

Phoenix-Mesa-Scottsdale, AZ
 
 
 
1

 
119,525

 
39.3
%
 
70.3
%
 
1,097

 
13.05

 
0.2
%
 
0.1
%
 
0.1
%
 
 
13

Riverside-San Bernardino-Ontario, CA
 
 
 
4

 
537,088

 
92.5
%
 
97.5
%
 
7,102

 
15.13

 
0.8
%
 
0.6
%
 
0.7
%
 
 
14

Detroit-Warren-Dearborn, MI
 
 
 
9

 
1,600,883

 
90.8
%
 
92.8
%
 
17,135

 
12.43

 
1.8
%
 
1.9
%
 
1.8
%
 
 
15

Seattle-Tacoma-Bellevue, WA
 
 
 
0

 

 

 

 

 

 

 

 

 
 
16

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

 
1,179,623

 
88.4
%
 
91.0
%
 
13,286

 
13.19

 
1.6
%
 
1.4
%
 
1.4
%
 
 
17

San Diego-Carlsbad, CA
 
 
 
2

 
507,394

 
96.4
%
 
97.3
%
 
9,152

 
19.15

 
0.4
%
 
0.6
%
 
1.0
%
 
 
18

Tampa-St. Petersburg-Clearwater, FL
 
 
 
15

 
2,401,903

 
92.3
%
 
94.4
%
 
27,974

 
13.36

 
2.9
%
 
2.8
%
 
2.9
%
 
 
19

Denver-Aurora-Lakewood, CO
 
 
 
5

 
1,192,781

 
97.3
%
 
97.7
%
 
14,867

 
12.83

 
1.0
%
 
1.4
%
 
1.6
%
 
 
20

St. Louis, MO-IL
 
 
 
4

 
658,665

 
74.8
%
 
86.0
%
 
4,957

 
8.80

 
0.8
%
 
0.8
%
 
0.5
%
 
 
 
Top 20 Largest US MSAs by Population
 
 
 
229

 
36,459,125

 
90.6
%
 
92.9
%
 
458,919

 
14.28

 
44.7
%
 
42.4
%
 
48.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
21

Baltimore-Columbia-Towson, MD
 
 
 
1

 
218,862

 
100.0
%
 
100.0
%
 
2,636

 
12.04

 
0.2
%
 
0.3
%
 
0.3
%
 
 
22

Charlotte-Concord-Gastonia, NC-SC
 
 
 
6

 
1,708,512

 
89.9
%
 
90.3
%
 
14,402

 
10.23

 
1.1
%
 
2.0
%
 
1.5
%
 
 
23

Portland-Vancouver-Hillsboro, OR-WA
 
 
 
0

 

 

 

 

 

 

 

 

 
 
24

Orlando-Kissimmee-Sanford, FL
 
 
 
6

 
963,156

 
89.4
%
 
95.1
%
 
15,562

 
17.33

 
1.1
%
 
1.1
%
 
1.6
%
 
 
25

San Antonio-New Braunfels, TX
 
 
 
0

 

 

 

 

 

 

 

 

 
 
26

Pittsburgh, PA
 
 
 
1

 
199,079

 
100.0
%
 
100.0
%
 
1,914

 
10.66

 
0.2
%
 
0.2
%
 
0.2
%
 
 
27

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

 
103,695

 
95.3
%
 
95.3
%
 
1,825

 
18.48

 
0.2
%
 
0.1
%
 
0.2
%
 
 
28

Cincinnati, OH-KY-IN
 
 
 
7

 
1,931,880

 
96.4
%
 
96.9
%
 
21,374

 
14.37

 
1.3
%
 
2.2
%
 
2.2
%
 
 
29

Las Vegas-Henderson-Paradise, NV
 
 
 
3

 
613,061

 
93.2
%
 
95.4
%
 
8,322

 
16.12

 
0.6
%
 
0.7
%
 
0.9
%
 
 
30

Kansas City, MO-KS
 
 
 
4

 
602,466

 
90.8
%
 
92.8
%
 
4,435

 
8.07

 
0.8
%
 
0.7
%
 
0.5
%
 
 
31

Cleveland-Elyria, OH
 
 
 
7

 
1,447,769

 
93.0
%
 
94.8
%
 
15,126

 
11.07

 
1.3
%
 
1.7
%
 
1.6
%
 
 
32

Columbus, OH
 
 
 
4

 
449,488

 
86.6
%
 
90.3
%
 
3,988

 
10.32

 
0.8
%
 
0.5
%
 
0.4
%
 
 
33

Austin-Round Rock, TX
 
 
 
1

 
169,552

 
83.0
%
 
100.0
%
 
1,819

 
10.73

 
0.2
%
 
0.2
%
 
0.2
%
 
 
34

Indianapolis-Carmel-Anderson, IN
 
 
 
4

 
881,418

 
80.4
%
 
81.8
%
 
6,372

 
8.87

 
0.8
%
 
1.0
%
 
0.7
%
 
 
35

San Jose-Sunnyvale-Santa Clara, CA
 
 
 
0

 

 

 

 

 

 

 

 

 
 
36

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

 
1,279,571

 
93.1
%
 
94.3
%
 
13,107

 
10.92

 
1.3
%
 
1.5
%
 
1.4
%
 
 
37

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

 
205,257

 
96.9
%
 
97.7
%
 
3,354

 
16.85

 
0.4
%
 
0.2
%
 
0.4
%
 
 
38

Providence-Warwick, RI-MA
 
 
 
1

 
148,126

 
83.8
%
 
83.8
%
 
1,356

 
10.92

 
0.2
%
 
0.2
%
 
0.1
%
 
 
39

Milwaukee-Waukesha-West Allis, WI
 
 
 
4

 
710,327

 
89.3
%
 
90.1
%
 
6,587

 
10.29

 
0.8
%
 
0.8
%
 
0.7
%
 
 
40

Jacksonville, FL
 
 
 
5

 
827,508

 
82.9
%
 
84.3
%
 
8,254

 
12.30

 
1.0
%
 
1.0
%
 
0.9
%
 
 
41

Oklahoma City, OK
 
 
 
0

 

 

 

 

 

 

 

 

 
 
42

Memphis, TN-MS-AR
 
 
 
1

 
660,013

 
82.5
%
 
83.4
%
 
7,635

 
14.36

 
0.2
%
 
0.8
%
 
0.8
%
 

Supplemental Disclosure - Three Months Ended September 30, 2016
Page 33
jpgstandardlogoa16.jpg




PROPERTIES BY LARGEST US MSAs
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent of
 
 
 
 
 
 
 
 
 
 
 
Number of
 
 
 
Percent
 
Percent
 
 
 
 
 
Number of
 
Percent
 
Percent
 
 
 
Largest US MSAs by 2015 Population
 
 
 
Properties
 
 GLA
 
Billed
 
Leased
 
 ABR
 
 ABR / SF
 
Properties
 
of GLA
 
of ABR
 
 
43

Louisville/Jefferson County, KY-IN
 
 
 
4

 
707,728

 
94.8
%
 
97.1
%
 
7,118

 
10.64

 
0.8
%
 
0.8
%
 
0.7
%
 
 
44

Raleigh, NC
 
 
 
2

 
291,027

 
71.4
%
 
71.4
%
 
2,766

 
13.46

 
0.4
%
 
0.3
%
 
0.3
%
 
 
45

Richmond, VA
 
 
 
2

 
215,897

 
95.7
%
 
96.1
%
 
2,893

 
13.95

 
0.4
%
 
0.3
%
 
0.3
%
 
 
46

New Orleans-Metairie, LA
 
 
 
0

 

 

 

 

 

 

 

 

 
 
47

Hartford-West Hartford-East Hartford, CT
 
 
 
4

 
891,680

 
93.7
%
 
94.6
%
 
11,697

 
16.54

 
0.8
%
 
1.0
%
 
1.2
%
 
 
48

Salt Lake City, UT
 
 
 
0

 

 

 

 

 

 

 

 

 
 
49

Birmingham-Hoover, AL
 
 
 
0

 

 

 

 

 

 

 

 

 
 
50

Buffalo-Cheektowaga-Niagara Falls, NY
 
 
 
1

 
95,544

 
100.0
%
 
100.0
%
 
1,442

 
15.48

 
0.2
%
 
0.1
%
 
0.2
%
 
 
 
Top 50 Largest US MSAs by Population
 
 
 
307

 
51,780,741

 
90.6
%
 
92.7
%
 
622,903

 
13.73

 
59.8
%
 
60.1
%
 
65.4
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
MSAs Ranked 51 - 100 by Population
 
 
 
66

 
11,508,186

 
89.9
%
 
91.1
%
 
116,999

 
12.34

 
12.8
%
 
13.3
%
 
12.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other MSAs
 
 
 
141

 
23,006,287

 
91.1
%
 
93.1
%
 
213,794

 
11.21

 
27.4
%
 
26.6
%
 
22.4
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL
 
 
 
514

 
86,295,214

 
90.6
%
 
92.6
%
 
$
953,696

 
$
12.90

 
100.0
%
 
100.0
%
 
100.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




Supplemental Disclosure - Three Months Ended September 30, 2016
Page 34
jpgstandardlogoa16.jpg




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

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

 
3,633,095

 
88.8
%
 
91.5
%
 
$
64,157

 
$
19.52

 
5.8
%
 
4.2
%
 
6.7
%
 
 
2

Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
7
 
28

 
4,307,425

 
92.2
%
 
94.4
%
 
55,966

 
15.67

 
5.4
%
 
5.0
%
 
5.9
%
 
 
3

Houston-The Woodlands-Sugar Land, TX
 
5
 
36

 
4,530,424

 
89.0
%
 
91.3
%
 
46,620

 
11.74

 
7.0
%
 
5.2
%
 
4.9
%
 
 
4

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

 
4,020,459

 
90.3
%
 
91.4
%
 
45,680

 
12.96

 
3.1
%
 
4.7
%
 
4.8
%
 
 
5

Dallas-Fort Worth-Arlington, TX
 
4
 
16

 
3,088,797

 
91.1
%
 
94.2
%
 
43,609

 
15.16

 
3.1
%
 
3.6
%
 
4.6
%
 
 
6

Atlanta-Sandy Springs-Roswell, GA
 
9
 
25

 
3,663,048

 
89.8
%
 
91.4
%
 
35,463

 
10.90

 
4.9
%
 
4.2
%
 
3.7
%
 
 
7

Los Angeles-Long Beach-Anaheim, CA
 
2
 
9

 
1,684,984

 
98.2
%
 
99.2
%
 
29,268

 
19.22

 
1.8
%
 
2.0
%
 
3.1
%
 
 
8

Tampa-St. Petersburg-Clearwater, FL
 
18
 
15

 
2,401,903

 
92.3
%
 
94.4
%
 
27,974

 
13.36

 
2.9
%
 
2.8
%
 
2.9
%
 
 
9

Cincinnati, OH-KY-IN
 
28
 
7

 
1,931,880

 
96.4
%
 
96.9
%
 
21,374

 
14.37

 
1.4
%
 
2.2
%
 
2.2
%
 
 
10

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

 
1,693,416

 
88.1
%
 
90.1
%
 
20,510

 
14.00

 
1.9
%
 
2.0
%
 
2.2
%
 
 
 
10 Largest MSAs by ABR
 
 
192

 
30,955,431

 
91.1
%
 
93.0
%
 
390,621

 
14.44

 
37.3
%
 
35.9
%
 
41.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11

Detroit-Warren-Dearborn, MI
 
14
 
9

 
1,600,883

 
90.8
%
 
92.8
%
 
17,135

 
12.43

 
1.8
%
 
1.9
%
 
1.8
%
 
 
12

Orlando-Kissimmee-Sanford, FL
 
24
 
6

 
963,156

 
89.4
%
 
95.1
%
 
15,562

 
17.33

 
1.2
%
 
1.1
%
 
1.6
%
 
 
13

Cleveland-Elyria, OH
 
31
 
7

 
1,447,769

 
93.0
%
 
94.8
%
 
15,126

 
11.07

 
1.4
%
 
1.7
%
 
1.6
%
 
 
14

Denver-Aurora-Lakewood, CO
 
19
 
5

 
1,192,781

 
97.3
%
 
97.7
%
 
14,867

 
12.83

 
1.0
%
 
1.4
%
 
1.6
%
 
 
15

Charlotte-Concord-Gastonia, NC-SC
 
22
 
6

 
1,708,512

 
89.9
%
 
90.3
%
 
14,402

 
10.23

 
1.2
%
 
2.0
%
 
1.5
%
 
 
16

Allentown-Bethlehem-Easton, PA-NJ
 
69
 
5

 
1,298,479

 
93.2
%
 
93.6
%
 
13,375

 
13.24

 
1.0
%
 
1.5
%
 
1.4
%
 
 
17

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

 
1,179,623

 
88.4
%
 
91.0
%
 
13,286

 
13.19

 
1.6
%
 
1.4
%
 
1.4
%
 
 
18

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

 
1,279,571

 
93.1
%
 
94.3
%
 
13,107

 
10.92

 
1.4
%
 
1.5
%
 
1.4
%
 
 
19

Hartford-West Hartford-East Hartford, CT
 
47
 
4

 
891,680

 
93.7
%
 
94.6
%
 
11,697

 
16.54

 
0.8
%
 
1.0
%
 
1.2
%
 
 
20

Oxnard-Thousand Oaks-Ventura, CA
 
66
 
3

 
677,512

 
98.1
%
 
98.9
%
 
10,836

 
16.51

 
0.6
%
 
0.8
%
 
1.1
%
 
 
 
20 Largest MSAs by ABR
 
 
252

 
43,195,397

 
91.4
%
 
93.3
%
 
530,014

 
14.01

 
49.3
%
 
50.2
%
 
55.6
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
21

Naples-Immokalee-Marco Island, FL
 
148
 
4

 
771,980

 
89.9
%
 
94.1
%
 
10,755

 
14.99

 
0.8
%
 
0.9
%
 
1.1
%
 
 
22

Binghamton, NY
 
189
 
4

 
751,207

 
99.1
%
 
99.1
%
 
9,886

 
13.28

 
0.8
%
 
0.9
%
 
1.0
%
 
 
23

San Diego-Carlsbad, CA
 
17
 
2

 
507,394

 
96.4
%
 
97.3
%
 
9,152

 
19.15

 
0.4
%
 
0.6
%
 
1.0
%
 
 
24

San Francisco-Oakland-Hayward, CA
 
11
 
2

 
478,046

 
94.0
%
 
96.9
%
 
9,019

 
24.58

 
0.4
%
 
0.6
%
 
0.9
%
 
 
25

Vallejo-Fairfield, CA
 
121
 
1

 
525,067

 
87.6
%
 
93.3
%
 
8,559

 
17.70

 
0.2
%
 
0.6
%
 
0.9
%
 
 
26

Las Vegas-Henderson-Paradise, NV
 
29
 
3

 
613,061

 
93.2
%
 
95.4
%
 
8,322

 
16.12

 
0.6
%
 
0.7
%
 
0.9
%
 
 
27

Jacksonville, FL
 
40
 
5

 
827,508

 
82.9
%
 
84.3
%
 
8,254

 
12.30

 
1.0
%
 
1.0
%
 
0.9
%
 
 
28

Boston-Cambridge-Newton, MA-NH
 
10
 
6

 
710,309

 
85.8
%
 
89.2
%
 
8,056

 
13.02

 
1.2
%
 
0.8
%
 
0.8
%
 
 
29

Memphis, TN-MS-AR
 
42
 
1

 
660,013

 
82.5
%
 
83.4
%
 
7,635

 
14.36

 
0.2
%
 
0.8
%
 
0.8
%
 
 
30

Fresno, CA
 
56
 
2

 
436,334

 
98.7
%
 
98.7
%
 
7,628

 
17.71

 
0.4
%
 
0.5
%
 
0.8
%
 
 
31

New Haven-Milford, CT
 
65
 
6

 
571,463

 
89.9
%
 
90.2
%
 
7,134

 
13.84

 
1.2
%
 
0.7
%
 
0.7
%
 
 
32

Louisville/Jefferson County, KY-IN
 
43
 
4

 
707,728

 
94.8
%
 
97.1
%
 
7,118

 
10.64

 
0.8
%
 
0.8
%
 
0.7
%
 
 
33

Riverside-San Bernardino-Ontario, CA
 
13
 
4

 
537,088

 
92.5
%
 
97.5
%
 
7,102

 
15.13

 
0.8
%
 
0.6
%
 
0.7
%
 
 
34

Port St. Lucie, FL
 
113
 
5

 
628,830

 
77.6
%
 
79.1
%
 
7,086

 
14.25

 
1.0
%
 
0.7
%
 
0.7
%
 
 
35

Norwich-New London, CT
 
175
 
2

 
433,532

 
97.1
%
 
97.1
%
 
6,994

 
16.61

 
0.4
%
 
0.5
%
 
0.7
%
 
 
36

Milwaukee-Waukesha-West Allis, WI
 
39
 
4

 
710,327

 
89.3
%
 
90.1
%
 
6,587

 
10.29

 
0.8
%
 
0.8
%
 
0.7
%
 
 
37

Indianapolis-Carmel-Anderson, IN
 
34
 
4

 
881,418

 
80.4
%
 
81.8
%
 
6,372

 
8.87

 
0.8
%
 
1.0
%
 
0.7
%
 
 
38

Worcester, MA-CT
 
58
 
4

 
589,104

 
83.1
%
 
84.3
%
 
5,795

 
13.49

 
0.8
%
 
0.7
%
 
0.6
%
 
 
39

Wilmington, NC
 
171
 
2

 
379,107

 
89.8
%
 
98.1
%
 
5,398

 
14.67

 
0.4
%
 
0.4
%
 
0.6
%
 
 
40

Springfield, MA
 
88
 
3

 
450,701

 
97.4
%
 
97.4
%
 
5,393

 
14.49

 
0.6
%
 
0.5
%
 
0.6
%
 

Supplemental Disclosure - Three Months Ended September 30, 2016
Page 35
jpgstandardlogoa16.jpg




LARGEST MSAs BY ABR
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent of
 
 
 
 
 
 
 
 
 
 
 
Number of
 
 
 
Percent
 
Percent
 
 
 
 
 
Number of
 
Percent
 
Percent
 
 
 
Largest MSAs by ABR
 
MSA Rank
 
Properties
 
 GLA
 
Billed
 
Leased
 
 ABR
 
 ABR / SF
 
Properties
 
of GLA
 
of ABR
 
 
41

Scranton--Wilkes-Barre--Hazleton, PA
 
97
 
2

 
620,309

 
97.7
%
 
97.7
%
 
5,278

 
19.58

 
0.4
%
 
0.7
%
 
0.6
%
 
 
42

Dayton, OH
 
72
 
3

 
534,401

 
96.0
%
 
97.3
%
 
5,197

 
12.26

 
0.6
%
 
0.6
%
 
0.5
%
 
 
43

College Station-Bryan, TX
 
187
 
4

 
491,463

 
95.7
%
 
96.0
%
 
5,170

 
13.14

 
0.8
%
 
0.6
%
 
0.5
%
 
 
44

North Port-Sarasota-Bradenton, FL
 
73
 
4

 
556,862

 
89.9
%
 
94.0
%
 
5,111

 
9.84

 
0.8
%
 
0.6
%
 
0.5
%
 
 
45

Corpus Christi, TX
 
114
 
4

 
565,070

 
89.7
%
 
91.6
%
 
5,096

 
11.82

 
0.8
%
 
0.7
%
 
0.5
%
 
 
46

Ann Arbor, MI
 
147
 
3

 
657,713

 
78.9
%
 
92.9
%
 
5,072

 
11.06

 
0.6
%
 
0.8
%
 
0.5
%
 
 
47

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

 
451,260

 
98.3
%
 
99.7
%
 
5,001

 
11.11

 
0.6
%
 
0.5
%
 
0.5
%
 
 
48

Greensboro-High Point, NC
 
74
 
1

 
406,768

 
100.0
%
 
100.0
%
 
4,994

 
14.36

 
0.2
%
 
0.5
%
 
0.5
%
 
 
49

Winston-Salem, NC
 
83
 
3

 
438,898

 
90.7
%
 
92.2
%
 
4,987

 
12.72

 
0.6
%
 
0.5
%
 
0.5
%
 
 
50

St. Louis, MO-IL
 
20
 
4

 
658,665

 
74.8
%
 
86.0
%
 
4,957

 
8.80

 
0.8
%
 
0.8
%
 
0.5
%
 
 
 
50 Largest MSAs by ABR
 
 
351

 
60,747,023

 
90.9
%
 
93.0
%
 
733,122

 
13.90

 
69.1
%
 
70.6
%
 
76.5
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
51

Kansas City, MO-KS
 
30
 
4

 
602,466

 
90.8
%
 
92.8
%
 
4,435

 
8.07

 
0.7
%
 
0.7
%
 
0.5
%
 
 
52

Manchester-Nashua, NH
 
132
 
2

 
348,189

 
97.3
%
 
97.3
%
 
4,261

 
20.40

 
0.4
%
 
0.4
%
 
0.4
%
 
 
53

Columbus, OH
 
32
 
4

 
449,488

 
86.6
%
 
90.3
%
 
3,988

 
10.32

 
0.7
%
 
0.5
%
 
0.4
%
 
 
54

Roanoke, VA
 
159
 
4

 
522,010

 
92.0
%
 
92.5
%
 
3,966

 
9.36

 
0.7
%
 
0.6
%
 
0.4
%
 
 
55

Pittsfield, MA
 
320
 
1

 
442,354

 
96.9
%
 
96.9
%
 
3,857

 
20.89

 
0.2
%
 
0.5
%
 
0.4
%
 
 
56

Boulder, CO
 
156
 
1

 
279,189

 
81.8
%
 
81.8
%
 
3,838

 
16.80

 
0.2
%
 
0.3
%
 
0.4
%
 
 
57

Mobile, AL
 
127
 
1

 
606,731

 
88.5
%
 
88.5
%
 
3,657

 
10.13

 
0.2
%
 
0.7
%
 
0.4
%
 
 
58

Charleston-North Charleston, SC
 
75
 
3

 
556,809

 
75.3
%
 
77.6
%
 
3,573

 
8.46

 
0.5
%
 
0.6
%
 
0.4
%
 
 
59

Jackson, MS
 
94
 
2

 
333,275

 
96.3
%
 
96.3
%
 
3,496

 
11.09

 
0.4
%
 
0.4
%
 
0.4
%
 
 
60

Spartanburg, SC
 
153
 
1

 
360,277

 
84.6
%
 
87.7
%
 
3,479

 
11.59

 
0.2
%
 
0.4
%
 
0.4
%
 
 
61

Greenville-Anderson-Mauldin, SC
 
63
 
2

 
220,723

 
98.9
%
 
99.4
%
 
3,477

 
15.84

 
0.4
%
 
0.3
%
 
0.4
%
 
 
62

Toledo, OH
 
91
 
2

 
606,407

 
74.4
%
 
82.8
%
 
3,447

 
8.70

 
0.4
%
 
0.7
%
 
0.4
%
 
 
63

Atlantic City-Hammonton, NJ
 
173
 
1

 
179,199

 
97.9
%
 
100.0
%
 
3,368

 
18.79

 
0.2
%
 
0.2
%
 
0.4
%
 
 
64

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

 
205,257

 
96.9
%
 
97.7
%
 
3,354

 
16.85

 
0.4
%
 
0.2
%
 
0.4
%
 
 
65

Bakersfield, CA
 
61
 
1

 
240,328

 
99.9
%
 
99.9
%
 
3,354

 
14.22

 
0.2
%
 
0.3
%
 
0.4
%
 
 
66

Saginaw, MI
 
226
 
2

 
432,508

 
86.3
%
 
94.2
%
 
3,305

 
11.54

 
0.4
%
 
0.5
%
 
0.3
%
 
 
67

Panama City, FL
 
221
 
2

 
397,512

 
91.4
%
 
92.3
%
 
3,280

 
8.94

 
0.4
%
 
0.5
%
 
0.3
%
 
 
68

Hilton Head Island-Bluffton-Beaufort, SC
 
212
 
2

 
230,352

 
94.5
%
 
95.2
%
 
2,999

 
13.68

 
0.4
%
 
0.3
%
 
0.3
%
 
 
69

Greenville, NC
 
237
 
1

 
233,153

 
96.2
%
 
96.2
%
 
2,942

 
13.12

 
0.2
%
 
0.3
%
 
0.3
%
 
 
70

Elkhart-Goshen, IN
 
218
 
2

 
445,534

 
96.4
%
 
96.4
%
 
2,897

 
10.97

 
0.4
%
 
0.5
%
 
0.3
%
 
 
71

Richmond, VA
 
45
 
2

 
215,897

 
95.7
%
 
96.1
%
 
2,893

 
13.95

 
0.4
%
 
0.3
%
 
0.3
%
 
 
72

Traverse City, MI
 
284
 
1

 
411,758

 
98.8
%
 
100.0
%
 
2,870

 
26.60

 
0.2
%
 
0.5
%
 
0.3
%
 
 
73

Lafayette, LA
 
108
 
3

 
433,211

 
95.6
%
 
96.6
%
 
2,862

 
6.84

 
0.5
%
 
0.5
%
 
0.3
%
 
 
74

Lexington-Fayette, KY
 
107
 
2

 
414,960

 
96.2
%
 
98.1
%
 
2,862

 
7.03

 
0.4
%
 
0.5
%
 
0.3
%
 
 
75

Des Moines-West Des Moines, IA
 
90
 
2

 
511,885

 
89.0
%
 
90.0
%
 
2,825

 
6.20

 
0.4
%
 
0.6
%
 
0.3
%
 
 
76

Savannah, GA
 
138
 
2

 
224,201

 
79.2
%
 
94.7
%
 
2,811

 
13.41

 
0.4
%
 
0.3
%
 
0.3
%
 
 
77

Odessa, TX
 
261
 
1

 
365,559

 
100.0
%
 
100.0
%
 
2,770

 
12.13

 
0.2
%
 
0.4
%
 
0.3
%
 
 
78

Raleigh, NC
 
44
 
2

 
291,027

 
71.4
%
 
71.4
%
 
2,766

 
13.46

 
0.3
%
 
0.3
%
 
0.3
%
 
 
79

Tullahoma-Manchester, TN
 
377
 
3

 
433,744

 
94.4
%
 
94.8
%
 
2,729

 
6.64

 
0.5
%
 
0.5
%
 
0.3
%
 
 
80

Blacksburg-Christiansburg-Radford, VA
 
231
 
1

 
180,220

 
91.9
%
 
100.0
%
 
2,655

 
14.98

 
0.2
%
 
0.2
%
 
0.3
%
 
 
81

Baltimore-Columbia-Towson, MD
 
21
 
1

 
218,862

 
100.0
%
 
100.0
%
 
2,636

 
12.04

 
0.2
%
 
0.3
%
 
0.3
%
 

Supplemental Disclosure - Three Months Ended September 30, 2016
Page 36
jpgstandardlogoa16.jpg




LARGEST MSAs BY ABR
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percent of
 
 
 
 
 
 
 
 
 
 
 
Number of
 
 
 
Percent
 
Percent
 
 
 
 
 
Number of
 
Percent
 
Percent
 
 
 
Largest MSAs by ABR
 
MSA Rank
 
Properties
 
 GLA
 
Billed
 
Leased
 
 ABR
 
 ABR / SF
 
Properties
 
of GLA
 
of ABR
 
 
82

Lancaster, PA
 
103
 
3

 
236,006

 
98.3
%
 
98.3
%
 
2,525

 
10.88

 
0.5
%
 
0.3
%
 
0.3
%
 
 
83

Bridgeport-Stamford-Norwalk, CT
 
57
 
1

 
161,075

 
87.6
%
 
88.0
%
 
2,461

 
17.37

 
0.2
%
 
0.2
%
 
0.3
%
 
 
84

Chattanooga, TN-GA
 
101
 
2

 
339,426

 
95.3
%
 
95.3
%
 
2,412

 
8.09

 
0.3
%
 
0.4
%
 
0.3
%
 
 
85

Merced, CA
 
178
 
1

 
147,557

 
98.0
%
 
100.0
%
 
2,390

 
16.20

 
0.2
%
 
0.2
%
 
0.3
%
 
 
86

Fort Wayne, IN
 
125
 
2

 
253,951

 
78.7
%
 
78.7
%
 
2,364

 
13.89

 
0.3
%
 
0.3
%
 
0.2
%
 
 
87

Dover, DE
 
240
 
1

 
191,974

 
100.0
%
 
100.0
%
 
2,341

 
12.19

 
0.2
%
 
0.2
%
 
0.2
%
 
 
88

Corning, NY
 
389
 
1

 
253,335

 
100.0
%
 
100.0
%
 
2,100

 
8.29

 
0.2
%
 
0.3
%
 
0.2
%
 
 
89

Duluth, MN-WI
 
168
 
1

 
182,969

 
88.9
%
 
98.6
%
 
2,079

 
11.53

 
0.2
%
 
0.2
%
 
0.2
%
 
 
90

Concord, NH
 
287
 
1

 
182,887

 
100.0
%
 
100.0
%
 
1,994

 
11.16

 
0.2
%
 
0.2
%
 
0.2
%
 
 
91

Rutland, VT
 
528
 
1

 
224,514

 
98.2
%
 
98.6
%
 
1,958

 
8.85

 
0.2
%
 
0.3
%
 
0.2
%
 
 
92

Portland-South Portland, ME
 
104
 
1

 
287,513

 
99.3
%
 
99.3
%
 
1,957

 
16.70

 
0.2
%
 
0.3
%
 
0.2
%
 
 
93

Santa Maria-Santa Barbara, CA
 
117
 
1

 
179,549

 
100.0
%
 
100.0
%
 
1,952

 
11.72

 
0.2
%
 
0.2
%
 
0.2
%
 
 
94

Altoona, PA
 
326
 
1

 
278,586

 
79.7
%
 
79.7
%
 
1,943

 
8.75

 
0.2
%
 
0.3
%
 
0.2
%
 
 
95

Pittsburgh, PA
 
26
 
1

 
199,079

 
100.0
%
 
100.0
%
 
1,914

 
10.66

 
0.2
%
 
0.2
%
 
0.2
%
 
 
96

Hickory-Lenoir-Morganton, NC
 
145
 
2

 
295,970

 
75.7
%
 
78.3
%
 
1,911

 
8.25

 
0.3
%
 
0.3
%
 
0.2
%
 
 
97

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

 
103,695

 
95.3
%
 
95.3
%
 
1,825

 
18.48

 
0.2
%
 
0.1
%
 
0.2
%
 
 
98

York-Hanover, PA
 
120
 
1

 
153,088

 
93.3
%
 
93.3
%
 
1,822

 
13.02

 
0.2
%
 
0.2
%
 
0.2
%
 
 
99

Austin-Round Rock, TX
 
33
 
1

 
169,552

 
83.0
%
 
100.0
%
 
1,819

 
10.73

 
0.2
%
 
0.2
%
 
0.2
%
 
 
100

Springfield, IL
 
211
 
2

 
178,494

 
87.2
%
 
88.5
%
 
1,804

 
11.41

 
0.3
%
 
0.2
%
 
0.2
%
 
 
 
100 Largest MSAs by ABR
 
 
436

 
76,159,328

 
90.9
%
 
93.0
%
 
874,345

 
13.40

 
84.9
%
 
88.5
%
 
91.6
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other MSAs
 
 
78

 
10,135,886

 
88.4
%
 
89.7
%
 
79,351

 
9.15

 
15.1
%
 
11.5
%
 
8.4
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL
 
 
514

 
86,295,214

 
90.6
%
 
92.6
%
 
$
953,696

 
$
12.90

 
100.0
%
 
100.0
%
 
100.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




Supplemental Disclosure - Three Months Ended September 30, 2016
Page 37
jpgstandardlogoa16.jpg




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

Texas
 
65

 
9,483,456

 
90.4
%
 
93.1
%
 
$
107,339

 
$
12.93

 
12.6
%
 
11.0
%
 
11.3
%
 
 
2

Florida
 
57

 
8,989,605

 
88.8
%
 
91.3
%
 
105,769

 
13.36

 
11.1
%
 
10.4
%
 
11.1
%
 
 
3

California
 
29

 
5,808,192

 
96.3
%
 
98.0
%
 
93,197

 
17.71

 
5.6
%
 
6.7
%
 
9.8
%
 
 
4

Pennsylvania
 
36

 
5,959,257

 
92.6
%
 
93.9
%
 
67,090

 
14.31

 
7.0
%
 
6.9
%
 
7.0
%
 
 
5

New York
 
33

 
4,340,537

 
89.4
%
 
91.6
%
 
65,047

 
16.76

 
6.4
%
 
5.0
%
 
6.8
%
 
 
6

Illinois
 
24

 
4,856,726

 
88.9
%
 
91.6
%
 
52,156

 
12.15

 
4.7
%
 
5.7
%
 
5.5
%
 
 
7

Georgia
 
37

 
5,264,566

 
87.8
%
 
89.7
%
 
46,247

 
10.01

 
7.2
%
 
6.1
%
 
4.8
%
 
 
8

Ohio
 
24

 
4,530,150

 
90.8
%
 
93.2
%
 
44,005

 
11.75

 
4.7
%
 
5.2
%
 
4.6
%
 
 
9

New Jersey
 
18

 
3,088,230

 
90.9
%
 
92.1
%
 
41,745

 
15.60

 
3.5
%
 
3.6
%
 
4.4
%
 
 
10

North Carolina
 
21

 
4,326,381

 
88.7
%
 
90.3
%
 
40,727

 
11.15

 
4.1
%
 
5.0
%
 
4.3
%
 
 
11

Michigan
 
19

 
3,660,577

 
88.5
%
 
93.1
%
 
33,641

 
12.39

 
3.7
%
 
4.2
%
 
3.5
%
 
 
12

Connecticut
 
15

 
2,260,206

 
92.7
%
 
93.1
%
 
30,104

 
15.29

 
2.9
%
 
2.6
%
 
3.2
%
 
 
13

Tennessee
 
15

 
3,063,908

 
90.9
%
 
91.7
%
 
28,391

 
10.65

 
2.9
%
 
3.6
%
 
3.0
%
 
 
14

Kentucky
 
12

 
2,600,414

 
97.3
%
 
98.4
%
 
22,742

 
9.46

 
2.3
%
 
3.1
%
 
2.4
%
 
 
15

Massachusetts
 
11

 
1,873,814

 
92.7
%
 
93.4
%
 
20,942

 
15.25

 
2.1
%
 
2.2
%
 
2.2
%
 
 
16

Colorado
 
6

 
1,471,970

 
94.4
%
 
94.7
%
 
18,705

 
13.48

 
1.2
%
 
1.7
%
 
2.0
%
 
 
17

Minnesota
 
10

 
1,471,078

 
87.4
%
 
90.7
%
 
15,845

 
12.65

 
1.9
%
 
1.7
%
 
1.7
%
 
 
18

Indiana
 
12

 
1,963,275

 
85.2
%
 
86.4
%
 
15,274

 
10.19

 
2.3
%
 
2.3
%
 
1.6
%
 
 
19

Virginia
 
11

 
1,446,508

 
90.1
%
 
92.0
%
 
14,992

 
11.83

 
2.1
%
 
1.7
%
 
1.6
%
 
 
20

South Carolina
 
8

 
1,368,161

 
84.8
%
 
86.7
%
 
13,528

 
11.65

 
1.6
%
 
1.6
%
 
1.4
%
 
 
21

Maryland
 
5

 
776,427

 
100.0
%
 
100.0
%
 
10,091

 
13.05

 
1.0
%
 
0.9
%
 
1.1
%
 
 
22

Nevada
 
3

 
613,061

 
93.2
%
 
95.4
%
 
8,322

 
16.12

 
0.6
%
 
0.7
%
 
0.9
%
 
 
23

New Hampshire
 
5

 
772,770

 
87.3
%
 
89.7
%
 
7,805

 
14.35

 
1.0
%
 
0.9
%
 
0.8
%
 
 
24

Wisconsin
 
5

 
760,882

 
88.5
%
 
89.7
%
 
7,084

 
10.38

 
1.0
%
 
0.9
%
 
0.7
%
 
 
25

Alabama
 
4

 
984,573

 
91.9
%
 
92.1
%
 
7,042

 
9.63

 
0.8
%
 
1.1
%
 
0.7
%
 
 
26

Missouri
 
6

 
862,861

 
86.9
%
 
87.8
%
 
6,116

 
8.21

 
1.1
%
 
1.0
%
 
0.6
%
 
 
27

Iowa
 
4

 
721,937

 
88.6
%
 
89.6
%
 
4,084

 
6.36

 
0.8
%
 
0.8
%
 
0.4
%
 
 
28

Louisiana
 
4

 
612,250

 
96.2
%
 
97.0
%
 
3,955

 
6.66

 
0.8
%
 
0.7
%
 
0.4
%
 
 
29

Mississippi
 
2

 
333,275

 
96.3
%
 
96.3
%
 
3,496

 
11.09

 
0.4
%
 
0.4
%
 
0.4
%
 
 
30

Kansas
 
2

 
367,779

 
92.1
%
 
94.4
%
 
3,095

 
11.47

 
0.4
%
 
0.4
%
 
0.3
%
 
 
31

Arizona
 
2

 
288,110

 
64.5
%
 
77.4
%
 
2,743

 
12.31

 
0.4
%
 
0.3
%
 
0.3
%
 
 
32

Delaware
 
1

 
191,974

 
100.0
%
 
100.0
%
 
2,341

 
12.19

 
0.2
%
 
0.2
%
 
0.2
%
 
 
33

West Virginia
 
2

 
251,500

 
97.2
%
 
97.2
%
 
2,007

 
8.21

 
0.4
%
 
0.3
%
 
0.2
%
 
 
34

Vermont
 
1

 
224,514

 
98.2
%
 
98.6
%
 
1,958

 
8.85

 
0.2
%
 
0.3
%
 
0.2
%
 
 
35

Maine
 
1

 
287,513

 
99.3
%
 
99.3
%
 
1,957

 
16.70

 
0.2
%
 
0.3
%
 
0.2
%
 
 
36

Oklahoma
 
1

 
186,851

 
100.0
%
 
100.0
%
 
1,792

 
9.59

 
0.2
%
 
0.2
%
 
0.2
%
 
 
37

Rhode Island
 
1

 
148,126

 
83.8
%
 
83.8
%
 
1,356

 
10.92

 
0.2
%
 
0.2
%
 
0.1
%
 
 
38

New Mexico
 
2

 
83,800

 
100.0
%
 
100.0
%
 
966

 
11.53

 
0.4
%
 
0.1
%
 
0.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL
 
514

 
86,295,214

 
90.6
%
 
92.6
%
 
$
953,696

 
$
12.90

 
100.0
%
 
100.0
%
 
100.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2016
Page 38
jpgstandardlogoa16.jpg




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

 
Winchester Plaza
 
Huntsville
 
AL
 
Huntsville, AL
 
2006
 
75,780

 
94.6
%
 
$
907

 
$
12.65

 
Publix
 
 
 
2

 
Springdale
 
Mobile
 
AL
 
Mobile, AL
 
2004
 
606,731

 
88.5
%
 
3,657

 
10.13

 
Sam's Club*
 
Belk, Big Lots, Burlington Stores, Marshalls, Michaels, Staples
 
 
3

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

 
100.0
%
 
1,605

 
6.92

 
Walmart Supercenter
 
Burke's Outlet
 
 
4

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

 
94.4
%
 
873

 
13.16

 
Publix
 
 
 
5

 
Glendale Galleria
 
Glendale
 
AZ
 
Phoenix-Mesa-Scottsdale, AZ
 
2016
 
119,525

 
70.3
%
 
1,097

 
13.06

 
 
LA Fitness, Sears Outlet
 
 
6

 
Northmall Centre
 
Tucson
 
AZ
 
Tucson, AZ
 
1996
 
168,585

 
82.4
%
 
1,646

 
11.85

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

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

 
100.0
%
 
2,390

 
16.20

 
SuperTarget*, Walmart Supercenter*
 
Marshalls, Petco
 
 
8

 
Bakersfield Plaza
 
Bakersfield
 
CA
 
Bakersfield, CA
 
2014
 
240,328

 
99.9
%
 
3,354

 
14.22

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

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

 
94.4
%
 
2,023

 
17.53

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

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

 
93.7
%
 
1,124

 
17.74

 
Stater Bros.
 
 
 
11

 
Clovis Commons
 
Clovis
 
CA
 
Fresno, CA
 
2004
 
174,990

 
99.3
%
 
3,929

 
22.61

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

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

 
98.0
%
 
1,301

 
8.99

 
 
Big Lots, Kmart
 
 
13

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

 
95.3
%
 
1,825

 
18.48

 
Trader Joe's
 
Forever 21, World Market
 
 
14

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

 
100.0
%
 
1,407

 
14.27

 
Vons (Albertsons)
 
Chuze Fitness
 
 
15

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

 
98.3
%
 
3,699

 
14.40

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

 
Lompoc Center
 
Lompoc
 
CA
 
Santa Maria-Santa Barbara, CA
 
2016
 
179,549

 
100.0
%
 
1,952

 
11.72

 
Vons (Albertsons)
 
Harbor Freight Tools, Marshalls, Michaels, Staples
 
 
17

 
Briggsmore Plaza
 
Modesto
 
CA
 
Modesto, CA
 
1998
 
92,315

 
100.0
%
 
1,178

 
13.51

 
Grocery Outlet
 
Fallas Paredes, Sears Outlet
 
 
18

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

 
98.0
%
 
4,682

 
17.18

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

 
California Oaks Center
 
Murrieta
 
CA
 
Riverside-San Bernardino-Ontario, CA
 
2016
 
124,481

 
98.6
%
 
1,980

 
16.66

 
Barons Market
 
Crunch Fitness, Dollar Tree
 
 
20

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

 
100.0
%
 
6,842

 
19.34

 
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
%
 
2,098

 
10.35

 
Food 4 Less (Kroger)
 
Ross Dress for Less, Target
 
 
22

 
Paradise Plaza
 
Paradise
 
CA
 
Chico, CA
 
1997
 
198,323

 
97.5
%
 
934

 
7.82

 
Save Mart
 
Kmart
 
 
23

 
Metro 580
 
Pleasanton
 
CA
 
San Francisco-Oakland-Hayward, CA
 
2015
 
177,573

 
100.0
%
 
2,687

 
32.74

 
 
Kohl's, Party City
 
Walmart
24

 
Rose Pavilion
 
Pleasanton
 
CA
 
San Francisco-Oakland-Hayward, CA
 
2016
 
300,473

 
95.0
%
 
6,332

 
22.22

 
99 Ranch Market, Trader Joe's
 
Golfsmith, Macy's Home Store, Total Wine & More
 
 
25

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

 
99.0
%
 
5,546

 
21.65

 
 
Marshalls, Michaels
 
 
26

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

 
100.0
%
 
1,079

 
7.54

 
 
Big Lots, Target
 
 
27

 
Ocean View Plaza
 
San Clemente
 
CA
 
Los Angeles-Long Beach-Anaheim, CA
 
2016
 
169,963

 
100.0
%
 
4,691

 
27.60

 
Ralphs (Kroger), Trader Joe's
 
Crunch Fitness, CVS
 
 
28

 
Mira Mesa Mall
 
San Diego
 
CA
 
San Diego-Carlsbad, CA
 
2003
 
408,800

 
96.6
%
 
7,745

 
20.42

 
Vons (Albertsons)
 
Bed Bath & Beyond, Marshalls, Mira Mesa Lanes
 
 
29

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

 
99.3
%
 
3,561

 
21.77

 
Smart & Final Extra!
 
Harbor Freight Tools, T.J.Maxx
 
Rite Aid
30

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

 
100.0
%
 
2,879

 
26.37

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

 
Gateway Plaza
 
Santa Fe Springs
 
CA
 
Los Angeles-Long Beach-Anaheim, CA
 
2016
 
289,268

 
100.0
%
 
3,525

 
23.70

 
El Super, Walmart Supercenter
 
LA Fitness, Marshalls
 
Target
32

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

 
100.0
%
 
1,971

 
10.53

 
Vons (Albertsons)
 
Big Lots, Heritage Hardware
 
 
33

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

 
96.3
%
 
2,919

 
20.28

 
Stater Bros.
 
Rite Aid, Stein Mart
 
 
34

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

 
97.8
%
 
985

 
17.76

 
Ralphs (Kroger)
 
 
 
35

 
Gateway Plaza - Vallejo
 
Vallejo
 
CA
 
Vallejo-Fairfield, CA
 
2016
 
525,067

 
93.3
%
 
8,559

 
17.70

 
Costco*
 
Bed Bath & Beyond, Century Theatres, DSW, Marshalls, Michaels, Office Max, Party City, Petco, Ross Dress for Less, Toys"R"Us, ULTA
 
Target
36

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

 
100.0
%
 
722

 
7.58

 
King Soopers (Kroger)
 
Arc
 
 
37

 
Arapahoe Crossings
 
Aurora
 
CO
 
Denver-Aurora-Lakewood, CO
 
2016
 
466,356

 
99.4
%
 
6,307

 
13.61

 
King Soopers (Kroger)
 
2nd & Charles, AMC Theatres, Big Lots, buybuy BABY, Gordmans, Kohl's, Stein Mart
 
 
38

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

 
98.1
%
 
1,517

 
8.98

 
King Soopers (Kroger)
 
Cinema Latino, Gen-X
 
 
39

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

 
91.5
%
 
1,571

 
14.06

 
 
 
 
40

 
Superior Marketplace
 
Superior
 
CO
 
Boulder, CO
 
2016
 
279,189

 
81.8
%
 
3,838

 
16.80

 
Whole Foods Market, Costco*, SuperTarget*
 
Party City, T.J.Maxx, Ulta
 
 
41

 
Westminster City Center
 
Westminster
 
CO
 
Denver-Aurora-Lakewood, CO
 
2014
 
330,559

 
96.6
%
 
4,750

 
14.87

 
 
Babies"R"Us, Barnes & Noble, Gordmans, Jo-Ann Fabric & Craft Stores, Ross Dress for Less, Tile Shop, Ulta
 
 
42

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

 
95.9
%
 
2,419

 
16.48

 
Costco
 
Dick's Sporting Goods, Jo-Ann Fabric & Craft Stores, P.C. Richard & Son
 
The Home Depot
43

 
The Shoppes at Fox Run
 
Glastonbury
 
CT
 
Hartford-West Hartford-East Hartford, CT
 
2012
 
106,364

 
91.4
%
 
2,386

 
24.55

 
Whole Foods Market
 
Petco
 
 
44

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

 
96.8
%
 
2,605

 
13.68

 
Super Stop & Shop (Ahold)
 
Kohl's
 
Walmart
45

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

 
100.0
%
 
1,021

 
14.11

 
PriceRite (Wakefern)
 
 
 
46

 
Killingly Plaza
 
Killingly
 
CT
 
Worcester, MA-CT
 
1990
 
76,960

 
98.7
%
 
609

 
8.02

 
 
Kohl's
 
 
47

 
The Manchester Collection
 
Manchester
 
CT
 
Hartford-West Hartford-East Hartford, CT
 
2015
 
339,775

 
93.0
%
 
4,433

 
14.03

 
Sam's Club*, Walmart Supercenter*
 
A.C. Moore, Ashley Furniture, Babies"R"Us, Bed Bath & Beyond, Big Bob's Flooring Outlet, DSW, Edge Fitness, Hobby Lobby, Men's Wearhouse, Plaza Aztec
 
Walmart
48

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

 
100.0
%
 
592

 
10.90

 
 
Dollar Tree, Savers
 
 

Supplemental Disclosure - Three Months Ended September 30, 2016
Page 39
jpgstandardlogoa16.jpg




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR / SF
 
Grocer (1)
 
Other Major Tenants
 
Non-Owned Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
49

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

 
0.0
%
 

 

 
 
 
 
50

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

 
98.2
%
 
2,459

 
16.71

 
Price Chopper
 
Dick's Sporting Goods
 
 
51

 
North Haven Crossing
 
North Haven
 
CT
 
New Haven-Milford, CT
 
2015
 
103,865

 
90.5
%
 
1,673

 
17.80

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

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

 
95.1
%
 
1,643

 
13.01

 
 
A.C. Moore, Christmas Tree Shops
 
 
53

 
Stratford Square
 
Stratford
 
CT
 
Bridgeport-Stamford-Norwalk, CT
 
2015
 
161,075

 
88.0
%
 
2,461

 
17.37

 
 
LA Fitness, Marshalls
 
 
54

 
Torrington Plaza
 
Torrington
 
CT
 
Torrington, CT
 
1994
 
125,496

 
85.5
%
 
1,209

 
11.27

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

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

 
92.1
%
 
2,205

 
13.08

 
Super Stop & Shop (Ahold)
 
Dollar Tree, Pretty Woman
 
Target
56

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

 
97.4
%
 
4,389

 
19.04

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

 
North Dover Center
 
Dover
 
DE
 
Dover, DE
 
2013
 
191,974

 
100.0
%
 
2,341

 
12.19

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

 
Brooksville Square
 
Brooksville
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
2013
 
156,361

 
96.6
%
 
1,655

 
10.96

 
Publix
 
Sears Outlet
 
 
59

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

 
97.2
%
 
3,539

 
16.45

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

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

 
100.0
%
 
1,008

 
13.37

 
Publix
 
 
Target
61

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

 
98.7
%
 
6,383

 
22.63

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

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

 
86.1
%
 
3,127

 
13.67

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

 
Century Plaza Shopping Center
 
Deerfield Beach
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
2006
 
83,104

 
91.1
%
 
1,523

 
20.12

 
 
Broward County Library
 
 
64

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

 
98.7
%
 
1,334

 
7.25

 
Publix
 
 
 
65

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

 
96.9
%
 
1,739

 
11.44

 
Publix
 
Bealls Outlet
 
 
66

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

 
97.3
%
 
795

 
14.88

 
Publix
 
 
 
67

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

 
99.1
%
 
1,744

 
11.13

 
Publix
 
Bealls Outlet, Books-A-Million, Office Depot, T.J.Maxx
 
 
68

 
Normandy Square
 
Jacksonville
 
FL
 
Jacksonville, FL
 
1996
 
87,240

 
88.4
%
 
737

 
9.55

 
Winn-Dixie (Southeastern Grocers)
 
Family Dollar
 
 
69

 
Regency Park Shopping Center
 
Jacksonville
 
FL
 
Jacksonville, FL
 
2016
 
334,065

 
72.6
%
 
1,816

 
8.23

 
 
American Signature Furniture, Bealls Outlet, Books-A-Million, Hard Knocks, Ollie's Bargain Outlet
 
 
70

 
The Shoppes at Southside
 
Jacksonville
 
FL
 
Jacksonville, FL
 
2016
 
109,113

 
100.0
%
 
1,887

 
17.29

 
 
Best Buy, David's Bridal, Restoration Hardware
 
 
71

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

 
98.6
%
 
1,277

 
13.19

 
 
 
 
72

 
Marketplace at Wycliffe
 
Lake Worth
 
FL
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
2015
 
133,520

 
97.6
%
 
2,215

 
17.00

 
Walmart Neighborhood Market
 
Walgreens
 
 
73

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

 
95.6
%
 
1,865

 
11.02

 
Publix
 
Dollar Tree, Petco, Staples, Tuesday Morning, T.J.Maxx
 
 
74

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

 
83.1
%
 
1,884

 
20.63

 
Publix
 
 
 
75

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

 
73.9
%
 
3,720

 
18.49

 
Walmart Supercenter*
 
Citi Trends, Marshalls, Ross Dress for Less
 
 
76

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

 
98.8
%
 
2,547

 
10.54

 
Winn-Dixie (Southeastern Grocers)
 
Ross Dress for Less
 
 
77

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

 
100.0
%
 
1,928

 
9.10

 
Publix
 
 
 
78

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

 
98.2
%
 
3,351

 
17.29

 
Publix
 
Marshalls, Office Depot, PGA TOUR Superstore
 
 
79

 
Park Shore Plaza
 
Naples
 
FL
 
Naples-Immokalee-Marco Island, FL
 
2016
 
249,390

 
90.6
%
 
3,592

 
16.29

 
The Fresh Market
 
Big Lots, Burlington Stores, HomeGoods, Party City, Saks OFF Fifth
 
 
80

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

 
96.8
%
 
959

 
12.21

 
Publix
 
Zone Fitness Club
 
 
81

 
Southgate Center
 
New Port Richey
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
2012
 
246,980

 
97.5
%
 
2,477

 
10.74

 
Publix
 
Bealls Outlet, Big Lots, Lumber Liquidators, Old Time Pottery, Pet Supermarket, YouFit Health Club
 
 
82

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

 
88.3
%
 
810

 
10.39

 
Sedano's
 
Family Dollar
 
 
83

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

 
64.3
%
 
446

 
24.92

 
 
Miller's Orange Park Ale House, Ruby Tuesday, Samurai Japanese Steakhouse
 
 
84

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

 
99.4
%
 
2,385

 
17.01

 
 
Burlington Stores, LA Fitness
 
Target
85

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

 
98.7
%
 
971

 
12.89

 
Publix
 
 
 
86

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

 
93.4
%
 
1,026

 
15.00

 
 
Office Depot
 
 
87

 
Pointe Orlando
 
Orlando
 
FL
 
Orlando-Kissimmee-Sanford, FL
 
2016
 
417,444

 
91.8
%
 
8,164

 
22.36

 
 
Main Event, Regal Cinemas
 
 
88

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

 
95.7
%
 
727

 
11.77

 
Publix
 
 
 
89

 
Martin Downs Village Center
 
Palm City
 
FL
 
Port St. Lucie, FL
 
1987
 
154,964

 
86.3
%
 
2,442

 
18.26

 
 
Coastal Care, Goodwill, Walgreens
 
 
90

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

 
95.2
%
 
1,164

 
12.38

 
Publix
 
 
 
91

 
Panama City Square
 
Panama City
 
FL
 
Panama City, FL
 
2015
 
298,685

 
91.4
%
 
2,116

 
7.75

 
Walmart Supercenter
 
Big Lots, Harbor Freight Tools, T.J.Maxx
 
 
92

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

 
89.5
%
 
1,166

 
9.13

 
 
Bealls Outlet, Big Lots, Petland, Sears Home Appliance Showroom
 
Hobby Lobby
93

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

 
98.5
%
 
2,716

 
13.76

 
Winn-Dixie (Southeastern Grocers)
 
A.C. Moore, Bealls Outlet, Bed Bath & Beyond, Party City, YouFit Health Club
 
 
94

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

 
82.0
%
 
1,849

 
13.85

 
Publix
 
Fortis Institute, Walgreens
 
 
95

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

 
88.2
%
 
1,020

 
12.14

 
Winn-Dixie (Southeastern Grocers)
 
Dollar Tree
 
 

Supplemental Disclosure - Three Months Ended September 30, 2016
Page 40
jpgstandardlogoa16.jpg




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR / SF
 
Grocer (1)
 
Other Major Tenants
 
Non-Owned Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
96

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

 
95.4
%
 
557

 
10.24

 
Winn-Dixie (Southeastern Grocers)
 
 
 
97

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

 
83.8
%
 
604

 
18.29

 
SuperTarget*
 
The Zoo Health Club
 
 
98

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

 
89.0
%
 
1,548

 
12.29

 
Publix
 
Harbor Freight Tools, Walgreens
 
 
99

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

 
100.0
%
 
2,037

 
12.06

 
Publix
 
Big Lots, Crunch Fitness, HomeGoods
 
 
100

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

 
70.3
%
 
1,190

 
12.93

 
Publix
 
 
 
101

 
Seminole Plaza
 
Seminole
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
2016
 
156,579

 
95.4
%
 
1,194

 
7.99

 
 
Bealls Outlet, Burlington Stores, T.J.Maxx
 
 
102

 
Cobblestone Village
 
St. Augustine
 
FL
 
Jacksonville, FL
 
2015
 
261,061

 
94.2
%
 
3,368

 
13.69

 
Publix
 
Bealls, Bed Bath & Beyond, Michaels, Party City, Petco
 
 
103

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

 
83.5
%
 
1,640

 
14.63

 
Publix
 
CVS, Dollar Tree
 
 
104

 
Bay Pointe Plaza
 
St. Petersburg
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
2016
 
95,560

 
98.3
%
 
1,181

 
12.57

 
Publix
 
Bealls Outlet, Pet Supermarket
 
 
105

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

 
95.9
%
 
1,256

 
8.75

 
Winn-Dixie (Southeastern Grocers)
 
Bealls Outlet, Big Lots
 
 
106

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

 
90.8
%
 
882

 
8.77

 
 
Dollar Tree
 
 
107

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

 
78.9
%
 
1,509

 
9.13

 
Winn-Dixie (Southeastern Grocers)
 
Big Lots, Chuck E. Cheese’s
 
 
108

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

 
55.6
%
 
1,048

 
12.46

 
Publix
 
Family Dollar
 
 
109

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

 
100.0
%
 
1,383

 
12.56

 
Patel Brothers
 
Dollar Tree, LA Fitness
 
Walmart
110

 
Carrollwood Center
 
Tampa
 
FL
 
Tampa-St. Petersburg-Clearwater, FL
 
2002
 
92,258

 
91.8
%
 
1,373

 
16.22

 
Publix
 
Rarehues
 
 
111

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

 
99.2
%
 
1,235

 
13.74

 
 
Deal$, Ross Dress for Less, Lumber Liquidators
 
 
112

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

 
97.6
%
 
2,134

 
14.99

 
Publix
 
Petco, T.J.Maxx, Ulta
 
 
113

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

 
98.3
%
 
915

 
7.04

 
Winn-Dixie (Southeastern Grocers)
 
Lumber Liquidators, Pet Supermarket, T.J.Maxx
 
 
114

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

 
85.9
%
 
611

 
6.48

 
Publix
 
Bealls Outlet
 
 
115

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

 
96.8
%
 
1,148

 
17.27

 
Publix
 
 
 
116

 
Albany Plaza
 
Albany
 
GA
 
Albany, GA
 
1995
 
114,169

 
75.1
%
 
542

 
6.32

 
Harveys (Southeastern Grocers)
 
Big Lots, OK Beauty & Fashions Outlet
 
 
117

 
Mansell Crossing
 
Alpharetta
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
2015
 
332,364

 
98.6
%
 
5,057

 
19.25

 
 
AMC Theatres, Barnes & Noble, DSW, Macy's Furniture Gallery, REI, Sports Authority, T.J.Maxx, Ulta
 
Toys"R"Us
118

 
Perlis Plaza
 
Americus
 
GA
 
Americus, GA
 
1972
 
165,315

 
84.0
%
 
805

 
5.80

 
 
Belk, Roses
 
 
119

 
Northeast Plaza
 
Atlanta
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
2015
 
442,201

 
88.6
%
 
4,377

 
11.32

 
City Farmers Market
 
dd's Discounts (Ross), Goodwill
 
 
120

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

 
68.3
%
 
1,073

 
7.56

 
 
Burlington Stores, Dollar Tree
 
 
121

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

 
97.8
%
 
504

 
7.78

 
Food Depot
 
Family Dollar
 
 
122

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

 
89.4
%
 
994

 
14.06

 
Publix
 
 
 
123

 
Cedar Plaza
 
Cedartown
 
GA
 
Cedartown, GA
 
1994
 
83,300

 
76.5
%
 
546

 
8.57

 
Kroger
 
 
 
124

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

 
98.4
%
 
2,006

 
11.90

 
Walmart Supercenter*
 
Jo-Ann Fabric & Craft Stores, Mattress Firm, PetSmart, Value Village
 
The Home Depot
125

 
Cordele Square
 
Cordele
 
GA
 
Cordele, GA
 
2002
 
127,953

 
87.3
%
 
742

 
6.64

 
Harveys (Southeastern Grocers)
 
Belk, Citi Trends, Cordele Theatres
 
 
126

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

 
94.3
%
 
1,060

 
6.43

 
Ingles
 
Kmart
 
 
127

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

 
94.5
%
 
751

 
11.81

 
Publix
 
 
 
128

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

 
87.3
%
 
1,102

 
13.31

 
Kroger
 
Anytime Fitness
 
 
129

 
Northside
 
Dalton
 
GA
 
Dalton, GA
 
2001
 
73,931

 
91.4
%
 
543

 
8.04

 
Food City
 
Family Dollar
 
 
130

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

 
90.8
%
 
779

 
11.03

 
Publix
 
 
 
131

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

 
84.9
%
 
627

 
15.89

 
Kroger*
 
 
 
132

 
Dublin Village
 
Dublin
 
GA
 
Dublin, GA
 
2005
 
94,920

 
95.8
%
 
671

 
7.38

 
Kroger
 
 
 
133

 
Westgate
 
Dublin
 
GA
 
Dublin, GA
 
2004
 
113,138

 
94.0
%
 
677

 
6.60

 
Harveys (Southeastern Grocers)
 
Bealls Outlet, Big Lots
 
The Home Depot
134

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

 
89.0
%
 
1,428

 
10.34

 
 
American Signature Furniture, Ollie's Bargain Outlet, Studio Movie Grill
 
 
135

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

 
88.5
%
 
1,151

 
8.48

 
Food Depot
 
Cinemark, Staples
 
 
136

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

 
80.8
%
 
1,754

 
9.93

 
 
Best Buy, Michaels, OfficeMax, PetSmart, The Furniture Mall
 
 
137

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

 
96.7
%
 
1,284

 
13.68

 
Publix
 
 
 
138

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

 
81.7
%
 
1,109

 
12.82

 
Publix
 
 
 
139

 
The Village at Mableton
 
Mableton
 
GA
 
Atlanta-Sandy Springs-Roswell, GA
 
2015
 
239,013

 
91.6
%
 
1,073

 
5.05

 
 
Dollar Tree, Kmart, Ollie's Bargain Outlet, Planet Fitness
 
 
140

 
North Park
 
Macon
 
GA
 
Macon, GA
 
2013
 
216,795

 
98.8
%
 
1,371

 
6.40

 
Kroger
 
Kmart
 
 
141

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

 
97.8
%
 
524

 
9.74

 
 
Marshalls
 
 
142

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

 
81.8
%
 
911

 
9.85

 
Kroger
 
 
 
143

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

 
90.7
%
 
1,718

 
12.29

 
Kroger
 
J. Christopher's
 
 
144

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

 
78.4
%
 
1,003

 
7.11

 
Kroger
 
Ace Hardware, Bealls Outlet, Goody's
 
 
145

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

 
88.5
%
 
510

 
8.26

 
Food Depot
 
 
 
146

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

 
82.2
%
 
268

 
19.41

 
Walmart Supercenter*
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2016
Page 41
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PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR / SF
 
Grocer (1)
 
Other Major Tenants
 
Non-Owned Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
147

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

 
94.0
%
 
965

 
9.74

 
 
PGA TOUR Superstore
 
 
148

 
Victory Square
 
Savannah
 
GA
 
Savannah, GA
 
2007
 
122,739

 
95.4
%
 
1,733

 
15.16

 
SuperTarget*
 
Citi Trends, Dollar Tree, Frank Theatres, Staples
 
The Home Depot
149

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

 
90.2
%
 
2,582

 
15.22

 
Kroger
 
 
 
150

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

 
97.2
%
 
1,781

 
5.28

 
Walmart Supercenter
 
Hobby Lobby, NCG Cinemas
 
 
151

 
Wilmington Island
 
Wilmington Island
 
GA
 
Savannah, GA
 
2016
 
101,462

 
93.9
%
 
1,078

 
11.32

 
Kroger
 
 
 
152

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

 
89.0
%
 
631

 
6.24

 
Hy-Vee
 
 
 
153

 
Haymarket Mall
 
Des Moines
 
IA
 
Des Moines-West Des Moines, IA
 
2002
 
243,680

 
98.0
%
 
1,411

 
6.04

 
 
Burlington Stores, Hobby Lobby
 
 
154

 
Haymarket Square
 
Des Moines
 
IA
 
Des Moines-West Des Moines, IA
 
2002
 
268,205

 
82.7
%
 
1,414

 
6.38

 
Price Chopper
 
Big Lots, Northern Tool + Equipment, Office Depot
 
 
155

 
Warren Plaza
 
Dubuque
 
IA
 
Dubuque, IA
 
1993
 
96,339

 
88.2
%
 
628

 
7.39

 
Hy-Vee
 
 
Target
156

 
Annex of Arlington
 
Arlington Heights
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2015
 
193,837

 
94.5
%
 
2,980

 
16.27

 
Trader Joe's
 
Binny's Beverage Depot, Chuck E. Cheese's, hhgregg, Petco, Ulta
 
 
157

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

 
90.5
%
 
2,008

 
14.64

 
 
Savers, XSport Fitness
 
Kohl's
158

 
Bartonville Square
 
Bartonville
 
IL
 
Peoria, IL
 
2001
 
61,678

 
95.2
%
 
323

 
5.84

 
Kroger
 
 
 
159

 
Festival Center
 
Bradley
 
IL
 
Kankakee, IL
 
2006
 
63,796

 
100.0
%
 
417

 
6.54

 
 
Big Lots, Dollar General
 
 
160

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

 
90.8
%
 
1,866

 
10.36

 
Shop & Save Market
 
Hobby Lobby, Walgreens
 
 
161

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

 
95.6
%
 
4,116

 
14.28

 
 
Marshalls, Office Depot, The Home Depot, XSport Fitness
 
 
162

 
Rivercrest Shopping Center
 
Crestwood
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2016
 
547,531

 
94.7
%
 
6,235

 
13.06

 
Ultra Foods
 
AMC, Best Buy, Five Below, Party City, PetSmart, Ross Dress for Less, T.J.Maxx
 
 
163

 
The Commons of Crystal Lake
 
Crystal Lake
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2015
 
273,060

 
86.3
%
 
2,363

 
10.02

 
Jewel-Osco (Albertsons)
 
Burlington Stores
 
Hobby Lobby
164

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

 
98.6
%
 
2,104

 
16.18

 
 
Walgreens
 
 
165

 
Crossroads Centre
 
Fairview Heights
 
IL
 
St. Louis, MO-IL
 
2016
 
242,752

 
91.9
%
 
1,944

 
8.71

 
Ruler Foods (Kroger)
 
Big Lots, Plato's Closet, Sky Zone, T.J.Maxx
 
 
166

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

 
96.3
%
 
1,428

 
12.94

 
Jewel-Osco (Albertsons)
 
Ace Hardware
 
 
167

 
Freeport Plaza
 
Freeport
 
IL
 
Freeport, IL
 
2000
 
87,846

 
88.3
%
 
503

 
6.49

 
Cub Foods (Supervalu)
 
 
 
168

 
Westview Center
 
Hanover Park
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2015
 
326,422

 
93.0
%
 
2,677

 
9.12

 
Tony's Finer Foods
 
Big Lots, LA Fitness, Sears Outlet
 
Value City
169

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

 
97.3
%
 
2,779

 
16.65

 
The Fresh Market
 
Best Buy, DSW, PetSmart, Stein Mart
 
 
170

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

 
98.8
%
 
1,586

 
15.04

 
Sunset Foods
 
 
 
171

 
High Point Centre
 
Lombard
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
1992
 
240,096

 
82.8
%
 
1,797

 
9.04

 
Ultra Foods
 
Jo-Ann Fabric & Craft Stores, Office Depot, Pioneer Child Care
 
 
172

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

 
84.9
%
 
1,511

 
15.94

 
Jewel-Osco
 
 
 
173

 
Westridge Court
 
Naperville
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2015
 
680,553

 
92.8
%
 
8,038

 
12.72

 
 
Art Van Furniture, Big Lots, buybuy BABY, Cribs 2 College, Gordmans, hhgregg, Marshalls, Old Navy, Party City, Savers, Star Cinema Grill, Turk Furniture, Ulta
 
 
174

 
Sterling Bazaar
 
Peoria
 
IL
 
Peoria, IL
 
1992
 
87,359

 
92.0
%
 
755

 
9.61

 
Kroger
 
 
 
175

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

 
96.3
%
 
1,994

 
17.64

 
 
LA Fitness, Regal Cinemas
 
 
176

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

 
97.6
%
 
730

 
6.54

 
Hy-Vee
 
Eye Surgeons Associates
 
 
177

 
Parkway Pointe
 
Springfield
 
IL
 
Springfield, IL
 
1994
 
38,737

 
85.9
%
 
583

 
17.51

 
ALDI*
 
dressbarn, Family Christian Stores, Shoe Carnival
 
Target, Walmart
178

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

 
89.3
%
 
1,221

 
9.79

 
Schnucks
 
U.S. Post Office
 
 
179

 
Tinley Park Plaza
 
Tinley Park
 
IL
 
Chicago-Naperville-Elgin, IL-IN-WI
 
2016
 
248,077

 
71.7
%
 
2,198

 
12.36

 
Walt's Fine Foods
 
Planet Fitness, Tile Shop
 
 
180

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

 
81.4
%
 
898

 
8.44

 
 
Dollar Tree, Godby Home Furnishings, Ollie's Bargain Outlet
 
 
181

 
Columbus Center
 
Columbus
 
IN
 
Columbus, IN
 
2005
 
143,050

 
93.9
%
 
1,510

 
11.25

 
 
Big Lots, OfficeMax, T.J.Maxx
 
Target
182

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

 
91.2
%
 
574

 
30.94

 
Martin's Super Market
 
CVS
 
 
183

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

 
91.2
%
 
1,849

 
17.24

 
Walmart Supercenter*
 
Best Buy, Dick's Sporting Goods, PetSmart
 
Kohl's
184

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

 
97.6
%
 
2,323

 
9.46

 
Sam's Club
 
Walmart
 
 
185

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

 
84.1
%
 
761

 
8.45

 
Kroger
 
 
 
186

 
Westlane Shopping Center
 
Indianapolis
 
IN
 
Indianapolis-Carmel-Anderson, IN
 
2016
 
71,602

 
100.0
%
 
653

 
9.12

 
Save-A-Lot
 
Citi Trends
 
 
187

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

 
83.0
%
 
336

 
13.51

 
Walmart Supercenter*
 
Aaron's
 
 
188

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

 
90.4
%
 
727

 
8.76

 
Martin's Super Market
 
 
 
189

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

 
60.7
%
 
515

 
8.18

 
Kroger
 
 
 
190

 
Speedway Super Center
 
Speedway
 
IN
 
Indianapolis-Carmel-Anderson, IN
 
2015
 
571,967

 
79.2
%
 
4,060

 
9.02

 
Kroger
 
Kohl's, Oak Street Health Center, Petco, Sears Outlet, T.J.Maxx
 
 
191

 
Sagamore Park Centre
 
West Lafayette
 
IN
 
Lafayette-West Lafayette, IN
 
2003
 
117,550

 
88.3
%
 
1,068

 
10.29

 
Pay Less (Kroger)
 
 
 
192

 
Westchester Square
 
Lenexa
 
KS
 
Kansas City, MO-KS
 
1987
 
155,518

 
93.3
%
 
1,332

 
9.18

 
Hy-Vee
 
 
 
193

 
West Loop Shopping Center
 
Manhattan
 
KS
 
Manhattan, KS
 
2013
 
212,261

 
95.1
%
 
1,763

 
14.13

 
Dillons (Kroger)
 
Bellus Academy, Jo-Ann Fabric & Craft Stores, Marshalls
 
 
194

 
Green River Plaza
 
Campbellsville
 
KY
 
Campbellsville, KY
 
1989
 
198,315

 
99.0
%
 
1,419

 
7.23

 
Kroger
 
Burke's Outlet, Goody’s, JC Penney, Jo-Ann Fabric & Craft Stores, Tractor Supply Co.
 
 
195

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

 
100.0
%
 
880

 
6.75

 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2016
Page 42
jpgstandardlogoa16.jpg




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

 
Florence Plaza - Florence Square
 
Florence
 
KY
 
Cincinnati, OH-KY-IN
 
2015
 
686,286

 
98.7
%
 
7,256

 
13.44

 
Kroger
 
Barnes & Noble, Burlington Stores, Harbor Freight Tools, Hobby Lobby, Old Navy, Ollie's Bargain Outlet, Staples, T.J.Maxx
 
 
197

 
Highland Commons
 
Glasgow
 
KY
 
Glasgow, KY
 
1992
 
130,466

 
100.0
%
 
778

 
5.96

 
Food Lion (Delhaize)
 
Kmart
 
 
198

 
Jeffersontown Commons
 
Jeffersontown
 
KY
 
Louisville/Jefferson County, KY-IN
 
2016
 
208,374

 
94.8
%
 
1,771

 
9.45

 
 
King Pin Lanes, Louisville Athletic Club, Savers
 
 
199

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

 
99.3
%
 
1,565

 
7.26

 
 
Gabriel Brothers, Walmart
 
 
200

 
London Marketplace
 
London
 
KY
 
London, KY
 
1994
 
169,032

 
99.1
%
 
1,118

 
6.68

 
Kroger
 
Goody's, Kmart
 
 
201

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

 
100.0
%
 
1,945

 
11.12

 
Kroger
 
Petco
 
 
202

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

 
94.7
%
 
1,498

 
10.09

 
Kroger
 
Annie's Attic, Tuesday Morning
 
 
203

 
Stony Brook I & II
 
Louisville
 
KY
 
Louisville/Jefferson County, KY-IN
 
2016
 
158,940

 
99.4
%
 
1,904

 
12.05

 
Kroger Marketplace
 
 
 
204

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

 
100.0
%
 
1,311

 
8.04

 
 
Books-A-Million, Hobby Lobby, Office Depot
 
 
205

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

 
96.7
%
 
1,297

 
6.78

 
 
Kmart
 
 
206

 
Karam Shopping Center
 
Lafayette
 
LA
 
Lafayette, LA
 
2015
 
100,120

 
88.4
%
 
313

 
3.54

 
Super 1 Foods
 
dd's Discounts (Ross)
 
 
207

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

 
99.9
%
 
956

 
7.26

 
Super 1 Foods
 
 
 
208

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

 
98.5
%
 
1,593

 
8.03

 
 
Big Lots, Citi Trends, Stage, T.J.Maxx
 
 
209

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

 
97.8
%
 
1,093

 
6.24

 
Super 1 Foods
 
 
 
210

 
Points West Plaza
 
Brockton
 
MA
 
Boston-Cambridge-Newton, MA-NH
 
2016
 
132,989

 
97.1
%
 
1,097

 
8.50

 
PriceRite (Wakefern)
 
Citi Trends, L&M Bargain, Ocean State Job Lot
 
 
211

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

 
100.0
%
 
2,045

 
27.34

 
 
Golf Galaxy, Pyara Aveda Spa & Salon, Staples
 
 
212

 
Chicopee Marketplace
 
Chicopee
 
MA
 
Springfield, MA
 
2005
 
151,003

 
100.0
%
 
2,731

 
18.73

 
Walmart Supercenter*
 
Marshalls, Party City, Staples
 
 
213

 
Holyoke Shopping Center
 
Holyoke
 
MA
 
Springfield, MA
 
2000
 
195,795

 
94.6
%
 
1,498

 
11.81

 
Super Stop & Shop (Ahold)
 
Jo-Ann Fabric & Craft Stores, Ocean State Job Lot
 
 
214

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

 
89.7
%
 
3,085

 
12.17

 
Shaw's (Albertsons)
 
Barnes & Noble, Michaels, Petco, Staples, T.J.Maxx
 
 
215

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

 
58.8
%
 
247

 
16.47

 
Hannaford Bros. (Delhaize)*
 
 
Walmart
216

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

 
100.0
%
 
1,137

 
14.56

 
Shaw's (Albertsons)
 
Rainbow
 
 
217

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

 
98.7
%
 
2,227

 
12.35

 
Star Market (Albertsons)
 
Marshalls, Ocean State Job Lot
 
 
218

 
Berkshire Crossing
 
Pittsfield
 
MA
 
Pittsfield, MA
 
1994
 
442,354

 
96.9
%
 
3,857

 
20.89

 
Market 32
 
Barnes & Noble, Michaels, Staples, The Home Depot, Ulta, Walmart
 
 
219

 
Westgate Plaza
 
Westfield
 
MA
 
Springfield, MA
 
1996
 
103,903

 
98.7
%
 
1,164

 
11.69

 
 
Ocean State Job Lot, Staples, T.J.Maxx
 
 
220

 
Perkins Farm Marketplace
 
Worcester
 
MA
 
Worcester, MA-CT
 
2015
 
204,038

 
74.7
%
 
1,854

 
21.75

 
Super Stop & Shop (Ahold)
 
Citi Trends, Fallas Paredes
 
 
221

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

 
100.0
%
 
1,802

 
19.52

 
 
Best Buy, Old Navy, Petco, Ross Dress for Less
 
 
222

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

 
100.0
%
 
734

 
28.75

 
 
 
 
223

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

 
100.0
%
 
3,120

 
10.65

 
Giant Food (Ahold)
 
Jo-Ann Fabric & Craft Stores, Kmart, Peebles
 
 
224

 
Liberty Plaza
 
Randallstown
 
MD
 
Baltimore-Columbia-Towson, MD
 
2012
 
218,862

 
100.0
%
 
2,636

 
12.04

 
Walmart Supercenter
 
Marshalls
 
 
225

 
Rising Sun Towne Centre
 
Rising Sun
 
MD
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2013
 
146,852

 
100.0
%
 
1,799

 
12.54

 
Martin's Food (Ahold)
 
Big Lots
 
 
226

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

 
99.3
%
 
1,957

 
16.70

 
 
Big Lots, Dollar Tree, Jo-Ann Fabric & Craft Stores, Lowe's
 
 
227

 
Maple Village
 
Ann Arbor
 
MI
 
Ann Arbor, MI
 
2016
 
287,387

 
87.9
%
 
3,098

 
12.27

 
Plum Market
 
Dunham's Sports, HomeGoods, Sierra Trading Post, Stein Mart
 
 
228

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

 
100.0
%
 
894

 
10.47

 
VG's Food (SpartanNash)
 
ACE Hardware
 
 
229

 
Farmington Crossroads
 
Farmington
 
MI
 
Detroit-Warren-Dearborn, MI
 
2013
 
79,068

 
100.0
%
 
806

 
10.19

 
 
Dollar Tree, Ollie's Bargain Outlet, True Value
 
 
230

 
Silver Pointe Shopping Center
 
Fenton
 
MI
 
Flint, MI
 
1996
 
160,943

 
87.5
%
 
1,797

 
12.75

 
VG's Food (SpartanNash)
 
Dunham's Sports, Glik's
 
 
231

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

 
78.1
%
 
573

 
7.37

 
D&W Fresh Market (SpartanNash)
 
 
 
232

 
Delta Center
 
Lansing
 
MI
 
Lansing-East Lansing, MI
 
2016
 
186,246

 
96.1
%
 
1,486

 
8.30

 
 
Bed Bath & Beyond, DXL Destination XL, Hobby Lobby, Planet Fitness
 
 
233

 
Lakes Crossing
 
Muskegon
 
MI
 
Muskegon, MI
 
2011
 
110,997

 
84.9
%
 
1,403

 
16.28

 
 
Jo-Ann Fabric & Craft Stores, Party City, Shoe Carnival, Ulta
 
Kohl's
234

 
Redford Plaza
 
Redford
 
MI
 
Detroit-Warren-Dearborn, MI
 
1992
 
285,386

 
96.7
%
 
2,629

 
9.52

 
Kroger
 
Ace Hardware, Burlington Stores, CW Price, Dollar Tree
 
 
235

 
Hampton Village Centre
 
Rochester Hills
 
MI
 
Detroit-Warren-Dearborn, MI
 
2004
 
454,377

 
94.1
%
 
5,835

 
18.22

 
 
Best Buy, DSW, Emagine Theatre, Kohl's, Old Navy, T.J.Maxx, Ulta
 
Target
236

 
Fashion Corners
 
Saginaw
 
MI
 
Saginaw, MI
 
2004
 
184,735

 
100.0
%
 
1,836

 
9.94

 
 
Bed Bath & Beyond, Best Buy, Dunham's Sports, Guitar Center, Harbor Freight Tools
 
 
237

 
Green Acres
 
Saginaw
 
MI
 
Saginaw, MI
 
2016
 
247,773

 
89.9
%
 
1,469

 
14.43

 
Kroger
 
Planet Fitness, Rite Aid
 
 
238

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

 
95.9
%
 
2,304

 
13.69

 
 
Gander Mountain, Michaels, Old Navy, T.J.Maxx, Ulta
 
 
239

 
Southfield Plaza
 
Southfield
 
MI
 
Detroit-Warren-Dearborn, MI
 
2015
 
101,724

 
98.8
%
 
1,152

 
11.46

 
 
Party City, Planet Fitness
 
Burlington Stores
240

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

 
100.0
%
 
1,468

 
14.43

 
VG's Food (SpartanNash)
 
O'Reilly Auto Parts, Planet Fitness
 
 
241

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

 
100.0
%
 
973

 
6.28

 
 
Babies"R"Us, Bed Bath & Beyond, Dunham's Mega Sports
 
 
242

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

 
100.0
%
 
2,870

 
26.60

 
Walmart Supercenter
 
Books-A-Million, PetSmart, Staples, The Home Depot, Toys"R"Us, Ulta
 
 
243

 
West Ridge
 
Westland
 
MI
 
Detroit-Warren-Dearborn, MI
 
2015
 
162,874

 
56.7
%
 
1,074

 
11.63

 
 
Bed Bath & Beyond, Party City, Petco
 
Burlington Stores, Target

Supplemental Disclosure - Three Months Ended September 30, 2016
Page 43
jpgstandardlogoa16.jpg




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR / SF
 
Grocer (1)
 
Other Major Tenants
 
Non-Owned Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
244

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

 
96.5
%
 
1,108

 
12.98

 
Walmart Supercenter
 
Harbor Freight Tools, Ollie's Bargain Outlet
 
 
245

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

 
97.6
%
 
866

 
7.17

 
Save-A-Lot
 
Dollar Tree, Dunham's Sports, Planet Fitness
 
 
246

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

 
98.9
%
 
2,074

 
16.78

 
SuperTarget*
 
Best Buy, Dollar Tree, Walgreens
 
 
247

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

 
73.7
%
 
480

 
7.39

 
ALDI
 
Jo-Ann Fabric & Craft Stores
 
Target
248

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

 
98.6
%
 
2,079

 
11.53

 
 
Best Buy, Dunham's Sports, Jo-Ann Fabric & Craft Stores, T.J.Maxx
 
 
249

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

 
92.0
%
 
2,020

 
10.71

 
Cub Foods (Jerry's Foods)
 
OfficeMax
 
 
250

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

 
95.0
%
 
1,389

 
16.62

 
Cub Foods (Supervalu)*
 
 
 
251

 
Richfield Hub
 
Richfield
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
2015
 
213,595

 
88.1
%
 
2,212

 
11.75

 
Rainbow Foods (Jerry's Foods)
 
FLEX Academy, Marshalls, Michaels
 
 
252

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

 
57.2
%
 
628

 
15.79

 
Cub Foods (Supervalu)*
 
Dollar Tree
 
 
253

 
Marketplace @ 42
 
Savage
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
2016
 
114,505

 
97.8
%
 
1,791

 
15.99

 
Fresh Thyme Farmers Market
 
Marshalls
 
 
254

 
Sun Ray Shopping Center
 
St. Paul
 
MN
 
Minneapolis-St. Paul-Bloomington, MN-WI
 
2013
 
291,020

 
91.3
%
 
2,470

 
12.36

 
Cub Foods (Supervalu)
 
T.J.Maxx, Valu Thrift Store
 
 
255

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

 
98.4
%
 
702

 
9.76

 
Festival Foods
 
Dollar Tree
 
 
256

 
Ellisville Square
 
Ellisville
 
MO
 
St. Louis, MO-IL
 
2015
 
137,006

 
65.3
%
 
1,102

 
12.32

 
 
Michaels, Party City
 
 
257

 
Clocktower Place
 
Florissant
 
MO
 
St. Louis, MO-IL
 
2016
 
207,317

 
90.2
%
 
1,437

 
7.81

 
ALDI
 
Florissant Furniture & Rug Gallery, K&G Fashion Superstore, Ross Dress for Less
 
 
258

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

 
92.5
%
 
822

 
5.91

 
Price Chopper
 
 
 
259

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

 
94.4
%
 
1,324

 
8.67

 
Price Chopper
 
Ace Hardware
 
 
260

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

 
90.2
%
 
957

 
8.50

 
Price Chopper
 
 
 
261

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

 
93.6
%
 
474

 
7.08

 
Shop 'n Save (Supervalu)
 
 
 
262

 
Clinton Crossing
 
Clinton
 
MS
 
Jackson, MS
 
1990
 
112,148

 
100.0
%
 
1,083

 
10.17

 
Kroger
 
 
 
263

 
County Line Plaza
 
Jackson
 
MS
 
Jackson, MS
 
2016
 
221,127

 
94.5
%
 
2,413

 
11.55

 
 
Burke's Outlet, Burlington Stores, Conn's, Kirkland's, Tuesday Morning
 
 
264

 
Devonshire Place
 
Cary
 
NC
 
Raleigh, NC
 
2012
 
106,680

 
55.9
%
 
971

 
16.91

 
 
Dollar Tree, Golf Galaxy, REI
 
 
265

 
McMullen Creek Market
 
Charlotte
 
NC
 
Charlotte-Concord-Gastonia, NC-SC
 
2016
 
272,857

 
91.2
%
 
3,233

 
12.99

 
Walmart Neighborhood Market
 
Burlington Stores, Dollar Tree, Rugged Wearhouse, Staples
 
 
266

 
The Commons at Chancellor Park
 
Charlotte
 
NC
 
Charlotte-Concord-Gastonia, NC-SC
 
2015
 
348,604

 
83.5
%
 
1,651

 
8.91

 
 
Big Lots, Gabe's, The Home Depot, Value City Furniture
 
 
267

 
Macon Plaza
 
Franklin
 
NC
 
 
2001
 
92,787

 
94.1
%
 
472

 
10.46

 
BI-LO (Southeastern Grocers)
 
Peebles
 
 
268

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

 
80.3
%
 
1,795

 
12.12

 
Kroger
 
OfficeMax, PetSmart
 
Target, The Home Depot
269

 
Franklin Square
 
Gastonia
 
NC
 
Charlotte-Concord-Gastonia, NC-SC
 
2015
 
317,705

 
84.1
%
 
3,034

 
12.83

 
Walmart Supercenter*
 
Bed Bath & Beyond, Best Buy, Dollar Tree, Michaels, Ross Dress for Less
 
 
270

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

 
100.0
%
 
4,994

 
14.36

 
 
Babies"R"Us, Christmas Tree Shops, Dick's Sporting Goods, Kohl's, Old Navy, PetSmart
 
Ross Dress for Less, Target
271

 
University Commons
 
Greenville
 
NC
 
Greenville, NC
 
2014
 
233,153

 
96.2
%
 
2,942

 
13.12

 
Harris Teeter (Kroger)
 
A.C. Moore, Barnes & Noble, Petco, T.J.Maxx
 
Target
272

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

 
100.0
%
 
1,719

 
8.98

 
 
Academy Sports + Outdoors, Dollar Tree, Fallas Paredes, Harbor Freight Tools, Ollie's Bargain Outlet
 
 
273

 
Kinston Pointe
 
Kinston
 
NC
 
Kinston, NC
 
2001
 
250,580

 
100.0
%
 
941

 
3.76

 
Walmart Supercenter
 
Dollar Tree
 
 
274

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

 
38.6
%
 
192

 
4.76

 
Ingles
 
 
 
275

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

 
93.1
%
 
1,371

 
15.15

 
 
Person County Health & Human Services
 
 
276

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

 
98.5
%
 
3,763

 
10.94

 
Food Lion (Delhaize)
 
Lowe's, Marshalls, Old Navy, PetSmart, Staples, Tinseltown
 
 
277

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

 
72.7
%
 
623

 
10.75

 
Food Lion (Delhaize)
 
Family Dollar
 
 
278

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

 
98.3
%
 
2,098

 
6.27

 
Walmart Supercenter
 
Big Lots, Burkes Outlet, Tractor Supply
 
 
279

 
Anson Station
 
Wadesboro
 
NC
 
 
1988
 
132,353

 
67.1
%
 
543

 
6.11

 
Food Lion (Delhaize)
 
Peebles, Tractor Supply Co.
 
 
280

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

 
97.5
%
 
1,983

 
14.55

 
 
OfficeMax, PetSmart, Sportsmans Warehouse
 
Target
281

 
University Commons
 
Wilmington
 
NC
 
Wilmington, NC
 
2007
 
235,345

 
98.5
%
 
3,415

 
14.74

 
Lowes Foods
 
A.C. Moore, HomeGoods, T.J.Maxx
 
 
282

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

 
97.9
%
 
1,193

 
14.73

 
Harris Teeter (Kroger)
 
 
 
283

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

 
89.9
%
 
2,834

 
11.69

 
Super Compare Foods
 
Big Lots, Citi Trends, Office Depot
 
 
284

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

 
94.8
%
 
960

 
14.00

 
 
Golf Galaxy, Mattress Firm, OfficeMax
 
 
285

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

 
95.7
%
 
1,917

 
21.68

 
 
Walmart
 
 
286

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

 
100.0
%
 
1,994

 
11.16

 
DeMoulas Supermarkets
 
Burlington Stores, Jo-Ann Fabric & Craft Stores, Marshalls
 
 
287

 
Willow Springs Plaza
 
Nashua
 
NH
 
Manchester-Nashua, NH
 
2016
 
131,248

 
100.0
%
 
2,344

 
19.47

 
 
JC Penney, New Hampshire Liquor and Wine Outlet, Petco
 
The Home Depot
288

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

 
25.1
%
 
128

 
16.02

 
 
Jo-Ann Fabric & Craft Stores
 
 
289

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

 
98.9
%
 
1,422

 
9.59

 
Market Basket (DeMoulas Supermarkets)
 
T.J.Maxx
 
 
290

 
Laurel Square
 
Brick
 
NJ
 
New York-Newark-Jersey City, NY-NJ-PA
 
2015
 
246,235

 
67.1
%
 
1,039

 
6.82

 
A&P**
 
Kmart, Planet Fitness
 
 
291

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

 
94.0
%
 
4,173

 
22.19

 
ShopRite
 
Burlington Stores, Ross Dress For Less
 
 
292

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

 
100.0
%
 
1,357

 
25.70

 
Acme (Albertsons)
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2016
Page 44
jpgstandardlogoa16.jpg




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR / SF
 
Grocer (1)
 
Other Major Tenants
 
Non-Owned Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
293

 
Collegetown Shopping Center
 
Glassboro
 
NJ
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2015
 
250,408

 
97.5
%
 
2,180

 
8.93

 
 
Kmart, LA Fitness, Staples
 
 
294

 
Hamilton Plaza
 
Hamilton
 
NJ
 
Trenton, NJ
 
2015
 
148,919

 
98.0
%
 
1,069

 
7.33

 
 
Hibachi Grill & Supreme Buffet, Kmart, Planet Fitness
 
 
295

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

 
90.3
%
 
1,512

 
13.16

 
Super Stop & Shop (Ahold)
 
 
 
296

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

 
100.0
%
 
3,141

 
16.10

 
Gourmet Glatt Market
 
Dollar Tree
 
 
297

 
Marlton Crossing
 
Marlton
 
NJ
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2013
 
332,664

 
94.1
%
 
4,960

 
15.85

 
 
Burlington Stores, DSW, HomeGoods, Michaels, T.J. Maxx
 
 
298

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

 
91.1
%
 
3,571

 
20.19

 
ShopRite
 
Petco, Rite Aid
 
 
299

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

 
93.8
%
 
1,263

 
29.88

 
ShopRite
 
 
 
300

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

 
95.2
%
 
4,118

 
17.57

 
Bhavani Food Market
 
Marshalls, Modell's Sporting Goods, Pep Boys, Petco, Robert Wood Johnson Fitness
 
 
301

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

 
97.6
%
 
2,972

 
19.09

 
 
Blink Fitness (Equinox), Cinepolis, HomeGoods, Marshalls
 
 
302

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

 
87.8
%
 
1,442

 
11.62

 
ShopRite*
 
JC Penney, Peebles, PetSmart
 
 
303

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

 
100.0
%
 
3,368

 
18.80

 
ShopRite
 
Pier 1 Imports, Staples
 
 
304

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

 
100.0
%
 
389

 
12.08

 
ShopRite
 
 
 
305

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

 
80.1
%
 
1,320

 
16.74

 
Acme (Albertsons)*
 
Dollar Tree, WOW! Fitness
 
 
306

 
Cross Keys Commons
 
Turnersville
 
NJ
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2016
 
216,323

 
92.0
%
 
3,153

 
15.85

 
Walmart Supercenter*
 
Marshalls, Ross Dress for Less, Staples
 
 
307

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

 
82.2
%
 
718

 
15.43

 
 
CVS, Dollar Tree
 
 
308

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

 
100.0
%
 
460

 
12.85

 
Whole Foods Market
 
Walgreens
 
 
309

 
Smith's
 
Socorro
 
NM
 
 
1976
 
48,000

 
100.0
%
 
506

 
10.54

 
 
 
 
310

 
Galleria Commons
 
Henderson
 
NV
 
Las Vegas-Henderson-Paradise, NV
 
2015
 
278,411

 
100.0
%
 
3,201

 
11.64

 
 
Babies"R"Us, Burlington Stores, Kirkland’s, Stein Mart, T.J.Maxx, Tuesday Morning
 
 
311

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

 
100.0
%
 
3,793

 
30.32

 
Smith's (Kroger)
 
T.J.Maxx
 
 
312

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

 
80.5
%
 
1,328

 
11.44

 
 
Savers
 
 
313

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

 
100.0
%
 
2,627

 
29.29

 
 
Minado, Stew Leonard's Wines, T.J.Maxx
 
 
314

 
Erie Canal Centre
 
Dewitt
 
NY
 
Syracuse, NY
 
2016
 
115,500

 
65.4
%
 
981

 
13.00

 
 
Dick's Sporting Goods
 
 
315

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

 
100.0
%
 
1,417

 
21.00

 
Acme (Albertsons) *
 
 
 
316

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

 
27.8
%
 
693

 
29.51

 
BJ's Wholesale*, Walmart Supercenter*
 
 
Kohl's
317

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

 
92.6
%
 
1,827

 
25.47

 
 
Ace Hardware
 
 
318

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

 
90.2
%
 
2,895

 
16.57

 
 
Burlington Stores, K&G Fashion Superstore
 
 
319

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

 
90.3
%
 
1,642

 
9.81

 
Wegmans
 
Peebles, Tractor Supply Co.
 
 
320

 
McKinley Plaza
 
Hamburg
 
NY
 
Buffalo-Cheektowaga-Niagara Falls, NY
 
1991
 
95,544

 
100.0
%
 
1,442

 
15.48

 
Wegmans*
 
A.C. Moore, T.J.Maxx
 
 
321

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

 
100.0
%
 
6,374

 
34.02

 
H-Mart, Best Market
 
Christmas Tree Shops, Rite Aid, T.J.Maxx
 
 
322

 
Hornell Plaza
 
Hornell
 
NY
 
Corning, NY
 
2005
 
253,335

 
100.0
%
 
2,100

 
8.29

 
Wegmans
 
Walmart
 
 
323

 
Cayuga Mall
 
Ithaca
 
NY
 
Ithaca, NY
 
2013
 
204,830

 
84.0
%
 
1,506

 
8.75

 
 
Big Lots, Jo-Ann Fabric & Craft Stores, Party City, Rite Aid, True Value
 
 
324

 
Kings Park Plaza
 
Kings Park
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1985
 
71,942

 
97.4
%
 
1,683

 
24.02

 
Key Food Marketplace
 
T.J.Maxx
 
 
325

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

 
100.0
%
 
583

 
34.29

 
Trader Joe's
 
 
 
326

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

 
100.0
%
 
1,291

 
21.12

 
 
Advance Auto Parts
 
 
327

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

 
66.7
%
 
691

 
4.48

 
 
Big Lots, Kmart
 
Raymour & Flanigan
328

 
Mamaroneck Centre
 
Mamaroneck
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2016
 
24,978

 
49.0
%
 
514

 
42.02

 
 
CVS
 
 
329

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

 
90.9
%
 
2,732

 
13.46

 
Super Stop & Shop (Ahold)
 
Planet Fitness
 
 
330

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

 
94.2
%
 
1,951

 
10.18

 
 
Ashley Furniture, Big Lots, Citi Trends, Hobby Lobby
 
 
331

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

 
100.0
%
 
1,887

 
15.47

 
ShopRite
 
Retro Fitness, Rite Aid, U.S. Post Office
 
 
332

 
Rockland Plaza
 
Nanuet
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2006
 
251,537

 
96.3
%
 
6,499

 
26.84

 
A Matter of Health
 
Barnes & Noble, Lemon Pop, Marshalls, Modell's Sporting Goods, Petco
 
 
333

 
North Ridge Shopping Center
 
New Rochelle
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
1971
 
31,870

 
96.8
%
 
1,135

 
36.81

 
 
Harmon Discount
 
 
334

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

 
95.9
%
 
2,418

 
20.49

 
 
Dollar Tree, HomeGoods
 
 
335

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

 
100.0
%
 
112

 
5.71

 
North Shore Farms
 
 
 
336

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

 
98.9
%
 
1,752

 
17.88

 
Best Yet Market
 
CVS, T.J.Maxx
 
 
337

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

 
94.3
%
 
1,095

 
26.30

 
 
HomeGoods, Rite Aid
 
 
338

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

 
85.1
%
 
1,354

 
21.39

 
Price Chopper
 
Family Dollar
 
 
339

 
College Plaza
 
Selden
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2016
 
180,182

 
95.6
%
 
3,003

 
17.90

 
ShopRite
 
A.C. Moore, Blink Fitness (Equinox), Bob's Stores
 
 
340

 
Campus Plaza
 
Vestal
 
NY
 
Binghamton, NY
 
2003
 
160,744

 
96.8
%
 
1,703

 
10.94

 
 
Olum's Furniture & Appliances, Rite Aid, Staples
 
 
341

 
Parkway Plaza
 
Vestal
 
NY
 
Binghamton, NY
 
2012
 
204,954

 
100.0
%
 
2,119

 
10.34

 
PriceRite (Wakefern)
 
Bed Bath & Beyond, Kohl's, PetSmart, Target
 
Target
342

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

 
100.0
%
 
1,391

 
15.07

 
 
HomeGoods, Michaels, Old Navy
 
 

Supplemental Disclosure - Three Months Ended September 30, 2016
Page 45
jpgstandardlogoa16.jpg




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR / SF
 
Grocer (1)
 
Other Major Tenants
 
Non-Owned Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
343

 
Town Square Mall
 
Vestal
 
NY
 
Binghamton, NY
 
2012
 
293,181

 
99.4
%
 
4,673

 
16.04

 
Sam's Club*, Walmart Supercenter*
 
A.C. Moore, AMC Cinemas, Barnes & Noble, Dick's Sporting Goods, DSW, T.J.Maxx, Ulta
 
 
344

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

 
94.1
%
 
707

 
10.92

 
Hannaford Bros. (Delhaize)
 
Lowes, Pier 1 Imports
 
 
345

 
Highridge Plaza
 
Yonkers
 
NY
 
New York-Newark-Jersey City, NY-NJ-PA
 
2016
 
88,501

 
95.2
%
 
2,250

 
26.70

 
H-Mart
 
 
 
346

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

 
94.5
%
 
1,828

 
13.98

 
Giant Eagle
 
 
The Home Depot
347

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

 
86.6
%
 
1,446

 
10.64

 
Giant Eagle, Marc's
 
 
 
348

 
Brentwood Plaza
 
Cincinnati
 
OH
 
Cincinnati, OH-KY-IN
 
2004
 
222,174

 
83.9
%
 
2,161

 
19.75

 
Kroger
 
Petco, Planet Fitness
 
 
349

 
Delhi Shopping Center
 
Cincinnati
 
OH
 
Cincinnati, OH-KY-IN
 
2012
 
164,750

 
96.8
%
 
1,393

 
8.74

 
Kroger
 
Pet Supplies Plus
 
 
350

 
Harpers Station
 
Cincinnati
 
OH
 
Cincinnati, OH-KY-IN
 
2015
 
252,233

 
98.5
%
 
3,430

 
13.80

 
Fresh Thyme Farmers Market
 
HomeGoods, LA Fitness, Pet Supplies Plus, Stein Mart, T.J.Maxx
 
 
351

 
Western Hills Plaza
 
Cincinnati
 
OH
 
Cincinnati, OH-KY-IN
 
2011
 
316,154

 
99.6
%
 
3,838

 
12.53

 
 
Bed Bath & Beyond, Michaels, Sears, Staples, T.J.Maxx
 
Target
352

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

 
100.0
%
 
1,143

 
29.71

 
Kroger
 
 
 
353

 
Crown Point
 
Columbus
 
OH
 
Columbus, OH
 
2016
 
144,931

 
95.9
%
 
1,374

 
9.89

 
Kroger
 
Dollar Tree, Planet Fitness
 
 
354

 
Greentree Shopping Center
 
Columbus
 
OH
 
Columbus, OH
 
2005
 
130,773

 
84.8
%
 
1,142

 
11.10

 
Kroger
 
 
 
355

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

 
88.8
%
 
151

 
9.50

 
Kroger*
 
 
 
356

 
South Towne Centre
 
Dayton
 
OH
 
Dayton, OH
 
2013
 
334,014

 
100.0
%
 
4,366

 
14.01

 
Health Foods Unlimited
 
Burlington Stores, Christmas Tree Shops, Jo-Ann Fabric & Craft Stores, Party City, Petsmart, Value City Furniture
 
 
357

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

 
90.2
%
 
722

 
5.53

 
 
Dollar Tree, Harbor Freight Tools
 
Walmart
358

 
Midway Market Square
 
Elyria
 
OH
 
Cleveland-Elyria, OH
 
2014
 
224,329

 
88.8
%
 
2,010

 
10.09

 
Giant Eagle
 
Dick's Sporting Goods, Jo-Ann Fabric & Craft Stores
 
Target, The Home Depot
359

 
Southland Shopping Center
 
Middleburg Heights
OH
 
Cleveland-Elyria, OH
 
2016
 
695,261

 
96.6
%
 
6,787

 
10.15

 
BJ's Wholesale Club, Giant Eagle, Marc's
 
Aspire Fitness, Burlington Stores, Cleveland Furniture Bank, Jo-Ann Fabric & Craft Stores, Marshalls, Party City
 
 
360

 
The Shoppes at North Olmsted
 
North Olmsted
 
OH
 
Cleveland-Elyria, OH
 
2002
 
70,003

 
98.2
%
 
1,036

 
15.07

 
 
Ollie's Bargain Outlet, Sears Outlet
 
 
361

 
The Shoppes at North Ridgeville
 
North Ridgeville
 
OH
 
Cleveland-Elyria, OH
 
2002
 
59,852

 
98.0
%
 
873

 
15.41

 
 
Pat Catan's Craft Centers
 
 
362

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

 
96.8
%
 
2,153

 
25.23

 
Kroger
 
Marshalls
 
 
363

 
Market Place
 
Piqua
 
OH
 
Dayton, OH
 
2012
 
182,487

 
93.2
%
 
680

 
7.08

 
Kroger
 
Roses
 
 
364

 
Brice Park
 
Reynoldsburg
 
OH
 
Columbus, OH
 
1989
 
158,565

 
88.9
%
 
1,224

 
9.46

 
 
Ashley Furniture, Citi Trends, Michaels
 
 
365

 
Streetsboro Crossing
 
Streetsboro
 
OH
 
Akron, OH
 
2002
 
89,436

 
100.0
%
 
683

 
7.64

 
Giant Eagle
 
 
Lowe's, Target
366

 
Miracle Mile Shopping Plaza
 
Toledo
 
OH
 
Toledo, OH
 
1955
 
315,515

 
80.7
%
 
1,912

 
12.87

 
Kroger
 
Aspire Fitness, Big Lots, Harbor Freight Tools
 
 
367

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

 
85.2
%
 
1,535

 
6.20

 
Kroger
 
Big Lots, Planet Fitness, Shopper's World
 
 
368

 
Wadsworth Crossings
 
Wadsworth
 
OH
 
Cleveland-Elyria, OH
 
2005
 
115,097

 
97.4
%
 
1,870

 
16.67

 
 
Bed Bath & Beyond, MC Sports, OfficeMax, Petco
 
Kohl's, Lowe's, Target
369

 
Northgate Plaza
 
Westerville
 
OH
 
Columbus, OH
 
2008
 
15,219

 
100.0
%
 
248

 
16.30

 
Kroger*
 
 
The Home Depot
370

 
Marketplace
 
Tulsa
 
OK
 
Tulsa, OK
 
1992
 
186,851

 
100.0
%
 
1,792

 
9.59

 
 
Conn's, Drysdales, PetSmart
 
Best Buy, JC Penney Home Store
371

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

 
97.1
%
 
2,521

 
18.49

 
Giant Food (Ahold)
 
CVS
 
 
372

 
Park Hills Plaza
 
Altoona
 
PA
 
Altoona, PA
 
1985
 
278,586

 
79.7
%
 
1,943

 
8.75

 
Weis Markets
 
A.C. Moore, Dunham's Sports, Shoe Carnival, Toys"R"Us
 
 
373

 
Bensalem Square
 
Bensalem
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1986
 
70,378

 
100.0
%
 
742

 
10.54

 
Redner's Warehouse Market
 
 
 
374

 
Bethel Park Shopping Center
 
Bethel Park
 
PA
 
Pittsburgh, PA
 
2015
 
199,079

 
100.0
%
 
1,914

 
10.66

 
Giant Eagle
 
Walmart
 
 
375

 
Bethlehem Square
 
Bethlehem
 
PA
 
Allentown-Bethlehem-Easton, PA-NJ
 
1994
 
389,450

 
100.0
%
 
3,902

 
15.09

 
Giant Food (Ahold)
 
T.J.Maxx, The Home Depot, Walmart
 
 
376

 
Lehigh Shopping Center
 
Bethlehem
 
PA
 
Allentown-Bethlehem-Easton, PA-NJ
 
2013
 
378,358

 
97.3
%
 
3,372

 
11.48

 
Giant Food (Ahold)
 
Big Lots, Mega Marshalls, PetSmart, Rite Aid, Staples, Wells Fargo
 
 
377

 
Bristol Park
 
Bristol
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2013
 
283,153

 
99.6
%
 
2,466

 
8.75

 
Walmart Supercenter
 
 
 
378

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

 
77.7
%
 
427

 
11.93

 
 
 
 
379

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

 
95.4
%
 
2,420

 
17.64

 
Giant Food (Ahold)
 
Tuesday Morning
 
 
380

 
Collegeville Shopping Center
 
Collegeville
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2004
 
110,696

 
51.0
%
 
846

 
14.98

 
 
Pep Boys, Rascal Fitness
 
 
381

 
Whitemarsh Shopping Center
 
Conshohocken
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2002
 
67,476

 
100.0
%
 
1,491

 
22.10

 
Giant Food (Ahold)
 
Wine & Spirits Shoppe
 
 
382

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

 
100.0
%
 
1,041

 
9.91

 
 
Chuck E. Cheese's, Mealey's Furniture
 
 
383

 
Dickson City Crossings
 
Dickson City
 
PA
 
Scranton--Wilkes-Barre--Hazleton, PA
 
1997
 
312,699

 
100.0
%
 
3,213

 
16.13

 
 
Dick's Sporting Goods, hhgregg, Party City, PetSmart, T.J.Maxx, The Home Depot
 
 
384

 
Dillsburg Shopping Center
 
Dillsburg
 
PA
 
York-Hanover, PA
 
2014
 
153,088

 
93.3
%
 
1,822

 
13.02

 
Giant Food (Ahold)
 
Rite Aid, Tractor Supply Co.
 
 
385

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

 
100.0
%
 
3,365

 
14.16

 
 
Kohl's, Marshalls, Regal Cinemas
 
 
386

 
Pilgrim Gardens
 
Drexel Hill
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2014
 
75,223

 
100.0
%
 
1,232

 
16.38

 
 
Dollar Tree, Ross Dress for Less
 
 
387

 
Gilbertsville Shopping Center
 
Gilbertsville
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2002
 
85,576

 
95.6
%
 
779

 
9.52

 
Weis Markets
 
Wine & Spirits
 
 
388

 
Mount Carmel Plaza
 
Glenside
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1975
 
14,504

 
94.1
%
 
184

 
13.48

 
 
SGS Paper
 
 
389

 
Kline Plaza
 
Harrisburg
 
PA
 
Harrisburg-Carlisle, PA
 
1952
 
214,628

 
90.9
%
 
1,795

 
9.20

 
Giant Food (Ahold)
 
Citi Trends
 
 
390

 
New Garden Center
 
Kennett Square
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2012
 
144,920

 
96.2
%
 
1,000

 
7.33

 
 
Big Lots, Ollie's Bargain Outlet
 
 
391

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

 
99.3
%
 
1,283

 
12.11

 
Giant Food (Ahold)
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2016
Page 46
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PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR / SF
 
Grocer (1)
 
Other Major Tenants
 
Non-Owned Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
392

 
Woodbourne Square
 
Langhorne
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1984
 
29,821

 
93.3
%
 
582

 
20.92

 
 
 
 
393

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

 
73.2
%
 
832

 
21.27

 
Weis Markets*
 
 
 
394

 
New Holland Shopping Center
 
New Holland
 
PA
 
Lancaster, PA
 
1995
 
65,878

 
95.2
%
 
514

 
8.20

 
Grocery Outlet
 
Family Dollar
 
 
395

 
Village at Newtown
 
Newtown
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1989
 
176,952

 
83.3
%
 
3,759

 
25.49

 
McCaffrey's
 
Pier 1 Imports
 
 
396

 
Cherry Square
 
Northampton
 
PA
 
Allentown-Bethlehem-Easton, PA-NJ
 
1989
 
75,005

 
96.3
%
 
729

 
10.09

 
Redner's Warehouse Market
 
 
 
397

 
Ivyridge
 
Philadelphia
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2016
 
107,318

 
94.7
%
 
2,418

 
23.80

 
 
Target, Wine & Spirits
 
 
398

 
Roosevelt Mall
 
Philadelphia
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2011
 
561,863

 
98.3
%
 
7,872

 
32.87

 
 
Macy's, Modell's Sporting Goods, Ross Dress For Less
 
 
399

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

 
100.0
%
 
1,367

 
7.74

 
Redner's Warehouse Market
 
French Creek Outfitters, Staples
 
 
400

 
Plymouth Plaza
 
Plymouth Meeting
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
1994
 
30,013

 
43.3
%
 
345

 
26.57

 
 
Premier Urgent Care
 
 
401

 
County Line Plaza
 
Souderton
 
PA
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2013
 
154,758

 
91.6
%
 
1,442

 
10.60

 
ALDI
 
Planet Fitness, Rite Aid, VF Outlet
 
 
402

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

 
100.0
%
 
411

 
9.85

 
Fresh Grocer (Wakefern)*
 
EZ Bargains, Rent-A-Center, Super Dollar City
 
 
403

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

 
100.0
%
 
3,417

 
15.63

 
ShopRite
 
A.C. Moore, Kohls, Modell's Sporting Goods, Old Navy, Party City, PetSmart, Ross Dress for Less
 
 
404

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

 
100.0
%
 
728

 
11.48

 
Musser's Markets
 
Hallmark
 
Kmart
405

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

 
79.2
%
 
2,851

 
11.42

 
Redner's Warehouse Market
 
Mealey's Furniture, PetSmart, Ross Dress for Less, Staples
 
 
406

 
Wilkes-Barre Township Marketplace
Wilkes-Barre
 
PA
 
Scranton--Wilkes-Barre--Hazleton, PA
 
2004
 
307,610

 
95.3
%
 
2,065

 
29.31

 
Walmart Supercenter
 
Party City, Shoe Carnival
 
 
407

 
Hunt River Commons
 
North Kingstown
 
RI
 
Providence-Warwick, RI-MA
 
1989
 
148,126

 
83.8
%
 
1,356

 
10.92

 
Super Stop & Shop (Ahold)
 
Marshalls, Planet Fitness
 
 
408

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

 
94.4
%
 
2,209

 
14.18

 
Kroger
 
Stein Mart
 
 
409

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

 
100.0
%
 
1,573

 
17.53

 
BI-LO (Southeastern Grocers)
 
 
 
410

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

 
97.2
%
 
790

 
12.45

 
BI-LO (Southeastern Grocers)
 
 
 
411

 
Island Plaza
 
James Island
 
SC
 
Charleston-North Charleston, SC
 
2016
 
171,224

 
100.0
%
 
1,364

 
8.28

 
Food Lion (Delhaize)
 
Dollar Tree, Gold's Gym, Tuesday Morning
 
 
412

 
Festival Centre
 
North Charleston
 
SC
 
Charleston-North Charleston, SC
 
2015
 
325,347

 
76.1
%
 
2,080

 
8.52

 
 
Gold's Gym, Intercontinental Hotels Group, New Spring Church, Sears Outlet
 
 
413

 
Remount Village Shopping Center
 
North Charleston
 
SC
 
Charleston-North Charleston, SC
 
1996
 
60,238

 
21.9
%
 
129

 
9.77

 
 
 
 
414

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

 
99.0
%
 
1,904

 
14.68

 
 
Ross Dress for Less, T.J.Maxx
 
Target
415

 
Hillcrest Market Place
 
Spartanburg
 
SC
 
Spartanburg, SC
 
2012
 
360,277

 
87.7
%
 
3,479

 
11.59

 
Publix
 
Marshalls, NCG Cinemas, Office Depot, Petco, Ross Dress for Less, Stein Mart
 
 
416

 
Shoppes at Hickory Hollow
 
Antioch
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
1986
 
144,469

 
84.9
%
 
1,413

 
11.52

 
Kroger
 
Citi Trends
 
 
417

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

 
88.8
%
 
588

 
11.23

 
Food Lion (Delhaize)
 
 
 
418

 
Watson Glen Shopping Center
 
Franklin
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
2015
 
265,027

 
98.9
%
 
2,561

 
9.86

 
ALDI
 
At Home, Big Lots, Franklin Athletic Club, Trees n Trends
 
 
419

 
Williamson Square
 
Franklin
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
2015
 
331,386

 
97.1
%
 
3,218

 
10.00

 
 
Grace Church Nashville, Hard Knocks, Hobby Lobby, Planet Fitness, Skyzone, USA Baby
 
 
420

 
Greensboro Village
 
Gallatin
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
2005
 
70,203

 
95.3
%
 
972

 
14.53

 
Publix
 
 
 
421

 
Greeneville Commons
 
Greeneville
 
TN
 
Greeneville, TN
 
2002
 
228,618

 
95.5
%
 
1,594

 
12.33

 
 
Belk, Burkes Outlet, JC Penney, Kmart
 
 
422

 
Oakwood Commons
 
Hermitage
 
TN
 
Nashville-Davidson--Murfreesboro--Franklin, TN
2015
 
267,558

 
93.4
%
 
2,806

 
11.38

 
Publix
 
Bed Bath & Beyond, Dollar Tree, Goody’s, PetSmart, Ross Dress for Less
 
 
423

 
Kimball Crossing
 
Kimball
 
TN
 
Chattanooga, TN-GA
 
2007
 
280,476

 
96.7
%
 
1,824

 
7.42

 
Walmart Supercenter
 
Goody's
 
Lowe's
424

 
Kingston Overlook
 
Knoxville
 
TN
 
Knoxville, TN
 
2015
 
122,536

 
80.7
%
 
914

 
9.55

 
 
Babies"R"Us, Sears Outlet
 
 
425

 
Farrar Place
 
Manchester
 
TN
 
Tullahoma-Manchester, TN
 
1989
 
43,220

 
84.5
%
 
324

 
8.88

 
Food Lion (Delhaize)
 
 
 
426

 
The Commons at Wolfcreek
 
Memphis
 
TN
 
Memphis, TN-MS-AR
 
2016
 
660,013

 
83.4
%
 
7,635

 
14.36

 
 
Academy Sports + Outdoors, Best Buy, Big Lots, DSW, hhgregg, Office Depot, PetSmart, T.J.Maxx, Value City Furniture
 
Target, The Home Depot, Toys"R"Us
427

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

 
85.4
%
 
1,124

 
11.53

 
Kroger
 
Aaron's
 
 
428

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

 
98.2
%
 
1,013

 
11.89

 
Kroger
 
 
Walgreens
429

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

 
98.3
%
 
1,241

 
6.92

 
Walmart Supercenter
 
Dollar Tree
 
 
430

 
Merchant's Central
 
Winchester
 
TN
 
Tullahoma-Manchester, TN
 
1997
 
208,123

 
93.8
%
 
1,164

 
5.96

 
Walmart Supercenter
 
Goody's
 
 
431

 
Palm Plaza
 
Aransas
 
TX
 
Corpus Christi, TX
 
2002
 
50,700

 
88.1
%
 
300

 
8.13

 
 
Bealls (Stage Stores), Family Dollar
 
 
432

 
Bardin Place Center
 
Arlington
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2016
 
420,550

 
100.0
%
 
4,052

 
9.64

 
WinCo Foods
 
Hemispheres, Hobby Lobby, Ross Dress for Less
 
 
433

 
Parmer Crossing
 
Austin
 
TX
 
Austin-Round Rock, TX
 
2015
 
169,552

 
100.0
%
 
1,819

 
10.73

 
 
Big Lots, Dollar Tree, Harbor Freight Tools, Mega Furniture, Planet Fitness
 
Fry's Electronics
434

 
Baytown Shopping Center
 
Baytown
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1987
 
95,930

 
87.6
%
 
925

 
11.01

 
 
24 Hour Fitness
 
 
435

 
Cedar Bellaire
 
Bellaire
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1994
 
50,967

 
100.0
%
 
850

 
16.68

 
H-E-B
 
 
 
436

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

 
100.0
%
 
647

 
9.03

 
El Ahorro Supermarket
 
Dollar Tree, Family Dollar
 
 
437

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

 
100.0
%
 
328

 
6.47

 
 
99 Cents Only, Citi Trends, Dollar Floor Store, Firestone
 
 
438

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

 
90.0
%
 
934

 
7.58

 
 
Tops Printing
 
 
439

 
Plantation Plaza
 
Clute
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1997
 
99,141

 
99.0
%
 
827

 
8.60

 
 
Walgreens
 
 
440

 
Central Station
 
College Station
 
TX
 
College Station-Bryan, TX
 
2012
 
176,847

 
96.6
%
 
2,562

 
15.35

 
 
OfficeMax, Spec's Liquors, Wally's Party Factory
 
Kohl's

Supplemental Disclosure - Three Months Ended September 30, 2016
Page 47
jpgstandardlogoa16.jpg




PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR / SF
 
Grocer (1)
 
Other Major Tenants
 
Non-Owned Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
441

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

 
100.0
%
 
1,346

 
25.57

 
Kroger
 
CVS
 
 
442

 
Carmel Village
 
Corpus Christi
 
TX
 
Corpus Christi, TX
 
1993
 
85,633

 
75.3
%
 
621

 
9.63

 
 
Bay Area Dialysis, Bealls (Stage Stores), Tuesday Morning
 
 
443

 
Five Points
 
Corpus Christi
 
TX
 
Corpus Christi, TX
 
2016
 
276,593

 
93.7
%
 
3,161

 
12.40

 
 
Bealls (Stage Stores), Burkes Outlet, Harbor Freight Tools, Hobby Lobby, Party City, Ross Dress for Less
 
 
444

 
Claremont Village
 
Dallas
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1976
 
67,305

 
97.3
%
 
538

 
8.30

 
Fiesta Mart
 
Family Dollar
 
 
445

 
Jeff Davis
 
Dallas
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1975
 
68,962

 
81.2
%
 
619

 
11.06

 
Save-A-Lot (Supervalu)
 
Family Dollar
 
 
446

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

 
96.5
%
 
406

 
9.25

 
 
Big Lots, O'Reilly Auto Parts
 
 
447

 
Webb Royal Plaza
 
Dallas
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2016
 
108,545

 
100.0
%
 
1,115

 
10.73

 
El Rio Grande Latin Market
 
Family Dollar
 
 
448

 
Wynnewood Village
 
Dallas
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2006
 
443,681

 
87.8
%
 
3,972

 
10.33

 
El Rancho, Kroger
 
Fallas Paredes, Gen X Clothing, Ross Dress for Less
 
 
449

 
Parktown
 
Deer Park
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
121,388

 
92.1
%
 
935

 
8.37

 
Food Town
 
Burkes Outlet, Walgreens
 
 
450

 
Kenworthy Crossing
 
El Paso
 
TX
 
El Paso, TX
 
2003
 
74,393

 
90.3
%
 
653

 
9.72

 
Albertsons
 
 
 
451

 
Preston Ridge
 
Frisco
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2016
 
793,319

 
98.2
%
 
15,544

 
20.27

 
SuperTarget*
 
Best Buy, Big Lots, DSW, Old Navy, Marshalls, Nordstrom Rack, Ross Dress for Less, Saks OFF Fifth, Sheplers, Stein Mart, T.J.Maxx
 
 
452

 
Forest Hills Village
 
Ft. Worth
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1968
 
69,651

 
100.0
%
 
393

 
5.64

 
Foodland Markets
 
Family Dollar, Hi Style Fashion
 
 
453

 
Ridglea Plaza
 
Ft. Worth
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1990
 
170,519

 
100.0
%
 
1,930

 
11.66

 
Tom Thumb (Albertsons)
 
Stein Mart
 
 
454

 
Trinity Commons
 
Ft. Worth
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1998
 
197,423

 
100.0
%
 
3,857

 
19.54

 
Tom Thumb (Albertsons)
 
DSW
 
 
455

 
Village Plaza
 
Garland
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2002
 
89,241

 
100.0
%
 
1,023

 
11.46

 
Truong Nguyen Grocer
 
 
 
456

 
North Hills Village
 
Haltom City
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1998
 
43,299

 
84.7
%
 
262

 
7.14

 
 
Dollar Tree, Rent-A-Center
 
 
457

 
Highland Village Town Center
 
Highland Village
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1996
 
99,341

 
92.1
%
 
981

 
10.72

 
Kroger
 
 
 
458

 
Bay Forest
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2004
 
71,667

 
98.3
%
 
747

 
10.60

 
Kroger
 
 
 
459

 
Beltway South
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1998
 
107,174

 
97.0
%
 
958

 
28.30

 
Kroger
 
 
 
460

 
Braes Heights
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2003
 
94,086

 
98.3
%
 
1,965

 
21.25

 
 
CVS, Imagination Toys, I W Marks Jewelers
 
 
461

 
Braes Link
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
30,189

 
100.0
%
 
537

 
17.79

 
 
Walgreens
 
 
462

 
Braes Oaks Center
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1992
 
45,067

 
94.5
%
 
464

 
10.90

 
H-E-B
 
 
 
463

 
Braesgate
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1997
 
91,382

 
93.2
%
 
536

 
6.29

 
Food Town
 
 
 
464

 
Broadway
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2006
 
74,942

 
100.0
%
 
770

 
10.68

 
El Ahorro Supermarket
 
Fallas Paredes, Melrose Fashions
 
 
465

 
Clear Lake Camino South
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2004
 
102,643

 
75.1
%
 
1,280

 
18.08

 
 
24 Hour Fitness, Mr. Gatti's Pizza, Spec's Liquors
 
 
466

 
Hearthstone Corners
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1998
 
208,147

 
93.9
%
 
1,858

 
9.50

 
Kroger
 
Big Lots, Stein Mart
 
 
467

 
Jester Village
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1988
 
64,285

 
77.4
%
 
500

 
10.05

 
H-E-B
 
 
 
468

 
Jones Plaza
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2000
 
111,206

 
68.5
%
 
759

 
9.97

 
 
Fitness Connection
 
 
469

 
Jones Square
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
169,003

 
98.7
%
 
1,244

 
7.56

 
 
Big Lots, Hobby Lobby
 
 
470

 
Maplewood Mall
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2004
 
93,711

 
98.1
%
 
766

 
8.33

 
Foodarama
 
Burke's Outlet
 
 
471

 
Merchants Park
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2009
 
243,798

 
100.0
%
 
3,334

 
13.68

 
Kroger
 
Big Lots, Petco, Ross Dress for Less, Tuesday Morning
 
 
472

 
Northgate
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1972
 
40,244

 
100.0
%
 
309

 
7.68

 
 
Affordable Furniture, Firestone, Lumber Liquidators, TitleMax
 
 
473

 
Northshore
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2001
 
230,779

 
93.9
%
 
2,718

 
12.74

 
Sellers Bros.
 
Conn's, Office Depot
 
 
474

 
Northtown Plaza
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2016
 
190,622

 
89.4
%
 
1,942

 
11.57

 
 
99 Cents Only, CVS, dd's Discounts (Ross), Fallas Paredes
 
 
475

 
Northwood Plaza
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1972
 
136,747

 
93.1
%
 
1,330

 
10.63

 
Food City
 
 
 
476

 
Orange Grove
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2005
 
189,201

 
94.1
%
 
1,771

 
10.09

 
 
24 Hour Fitness, FAMSA, Floor & Décor
 
 
477

 
Pinemont Shopping Center
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
73,577

 
92.9
%
 
911

 
13.64

 
 
Family Dollar, Houston Community College
 
 
478

 
Royal Oaks Village
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2001
 
145,229

 
97.8
%
 
3,109

 
21.90

 
H-E-B
 
 
 
479

 
Tanglewilde Center
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1998
 
82,565

 
100.0
%
 
1,130

 
13.81

 
 
Ace Hardware, Dollar Tree, Party City, Salon In The Park
 
 
480

 
Westheimer Commons
 
Houston
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2012
 
242,409

 
94.4
%
 
2,114

 
9.23

 
Fiesta Mart
 
Marshalls
 
 
481

 
Fry Road Crossing
 
Katy
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2005
 
237,340

 
100.0
%
 
2,478

 
10.53

 
Kroger
 
Hobby Lobby, Palais Royal, Stein Mart
 
 
482

 
Washington Square
 
Kaufman
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
1978
 
64,230

 
82.7
%
 
344

 
6.48

 
 
AutoZone, Bealls (Stage Stores), Dollar Tree
 
 
483

 
Jefferson Park
 
Mount Pleasant
 
TX
 
Mount Pleasant, TX
 
2001
 
132,096

 
94.7
%
 
870

 
7.07

 
Super 1 Foods
 
Harbor Freight Tools, PetSense
 
 
484

 
Winwood Town Center
 
Odessa
 
TX
 
Odessa, TX
 
2002
 
365,559

 
100.0
%
 
2,770

 
12.13

 
H-E-B
 
Hastings, Office Depot, Ross Dress for Less, Target
 
 
485

 
Crossroads Centre - Pasadena
 
Pasadena
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1997
 
134,006

 
93.8
%
 
1,486

 
12.71

 
Kroger
 
Sears Hardware
 
 
486

 
Spencer Square
 
Pasadena
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1998
 
194,470

 
86.3
%
 
2,080

 
12.40

 
Kroger
 
Burkes Outlet
 
 
487

 
Pearland Plaza
 
Pearland
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1995
 
156,491

 
81.6
%
 
1,140

 
8.93

 
Kroger
 
Goodwill Select Store, Harbor Freight Tools, Walgreens
 
 
488

 
Market Plaza
 
Plano
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2002
 
168,137

 
69.9
%
 
2,663

 
23.76

 
Central Market (H-E-B)
 
 
 
489

 
Preston Park
 
Plano
 
TX
 
Dallas-Fort Worth-Arlington, TX
 
2016
 
239,102

 
92.2
%
 
5,910

 
26.82

 
Kroger
 
 
 
490

 
Northshore Plaza
 
Portland
 
TX
 
Corpus Christi, TX
 
2000
 
152,144

 
98.4
%
 
1,014

 
13.52

 
H-E-B
 
Bealls (Stage Stores)
 
Kmart
491

 
Klein Square
 
Spring
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
80,636

 
94.7
%
 
799

 
10.46

 
Food Town
 
Family Dollar, Petco
 
 
492

 
Keegan's Meadow
 
Stafford
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
1999
 
125,491

 
94.7
%
 
1,240

 
10.77

 
Randalls (Albertsons)
 
Palais Royal
 
 

Supplemental Disclosure - Three Months Ended September 30, 2016
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PROPERTY LIST
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in thousands except per square foot amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
 
Percent
 
 
 
 
 
 
 
 
 
 
 
 
Property Name
 
City
 
State
 
Metropolitan Statistical Area
 
Built
 
 GLA
 
Leased
 
 ABR
 
 ABR / SF
 
Grocer (1)
 
Other Major Tenants
 
Non-Owned Major Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
493

 
Texas City Bay
 
Texas City
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2005
 
223,152

 
53.9
%
 
1,170

 
9.79

 
Kroger
 
 
 
494

 
Windvale Center
 
The Woodlands
 
TX
 
Houston-The Woodlands-Sugar Land, TX
 
2002
 
101,088

 
91.5
%
 
991

 
28.20

 
Randalls (Albertsons)
 
 
 
495

 
The Centre at Navarro
 
Victoria
 
TX
 
Victoria, TX
 
2005
 
66,102

 
94.1
%
 
732

 
16.61

 
ALDI
 
Hastings, Walgreens
 
 
496

 
Spradlin Farm
 
Christiansburg
 
VA
 
Blacksburg-Christiansburg-Radford, VA
 
2000
 
180,220

 
100.0
%
 
2,655

 
14.98

 
 
Barnes & Noble, Big Lots, Michaels, Petco, T.J.Maxx
 
Target, The Home Depot
497

 
Culpeper Town Square
 
Culpeper
 
VA
 
Washington-Arlington-Alexandria, DC-VA-MD-WV
1999
 
132,882

 
99.0
%
 
1,147

 
8.72

 
Food Lion (Ahold)
 
Mountain Run Bowling, Tractor Supply Co.
 
 
498

 
Hanover Square
 
Mechanicsville
 
VA
 
Richmond, VA
 
1991
 
129,887

 
98.2
%
 
1,656

 
12.99

 
 
Gold's Gym
 
Kohl's
499

 
Jefferson Green
 
Newport News
 
VA
 
Virginia Beach-Norfolk-Newport News, VA-NC
 
1988
 
54,945

 
91.3
%
 
771

 
15.37

 
 
DXL Destination XL, Once Upon a Child, Tuesday Morning
 
 
500

 
Tuckernuck Square
 
Richmond
 
VA
 
Richmond, VA
 
1981
 
86,010

 
92.9
%
 
1,237

 
15.48

 
 
2nd & Charles, Chuck E. Cheese's
 
 
501

 
Cave Spring Corners
 
Roanoke
 
VA
 
Roanoke, VA
 
2005
 
147,133

 
100.0
%
 
1,171

 
13.27

 
Kroger
 
Hamrick's
 
 
502

 
Hunting Hills
 
Roanoke
 
VA
 
Roanoke, VA
 
2014
 
166,207

 
98.2
%
 
1,409

 
8.63

 
 
Kohl's, PetSmart
 
 
503

 
Valley Commons
 
Salem
 
VA
 
Roanoke, VA
 
1988
 
45,580

 
20.4
%
 
89

 
9.57

 
 
 
 
504

 
Lake Drive Plaza
 
Vinton
 
VA
 
Roanoke, VA
 
2008
 
163,090

 
100.0
%
 
1,297

 
7.95

 
Kroger
 
Big Lots, Goodwill
 
 
505

 
Hilltop Plaza
 
Virginia Beach
 
VA
 
Virginia Beach-Norfolk-Newport News, VA-NC
 
2010
 
150,312

 
100.0
%
 
2,583

 
17.36

 
Trader Joe's
 
Jo-Ann Fabric & Craft Stores, Kirkland’s, Office Depot, PetSmart
 
 
506

 
Ridgeview Centre
 
Wise
 
VA
 
Big Stone Gap, VA
 
2015
 
190,242

 
67.6
%
 
977

 
7.60

 
 
Grand Home Furnishings, Harbor Freight Tools, Ollie's Bargain Outlet
 
Belk
507

 
Rutland Plaza
 
Rutland
 
VT
 
Rutland, VT
 
1997
 
224,514

 
98.6
%
 
1,958

 
8.85

 
Price Chopper
 
Flagship Cinemas, T.J.Maxx, Walmart
 
 
508

 
Fitchburg Ridge Shopping Center
 
Fitchburg
 
WI
 
Madison, WI
 
2003
 
50,555

 
83.6
%
 
497

 
11.75

 
 
Wisconsin Dialysis
 
 
509

 
Spring Mall
 
Greenfield
 
WI
 
Milwaukee-Waukesha-West Allis, WI
 
2003
 
188,861

 
83.5
%
 
1,179

 
7.48

 
 
T.J.Maxx
 
 
510

 
Mequon Pavilions
 
Mequon
 
WI
 
Milwaukee-Waukesha-West Allis, WI
 
2015
 
219,618

 
87.3
%
 
3,026

 
15.78

 
Sendik's Food Market
 
Bed Bath & Beyond, DSW, Marshalls
 
 
511

 
Moorland Square Shopping Ctr
 
New Berlin
 
WI
 
Milwaukee-Waukesha-West Allis, WI
 
1990
 
98,303

 
91.3
%
 
857

 
9.55

 
Pick 'n Save (Kroger)
 
 
Walmart
512

 
Paradise Pavilion
 
West Bend
 
WI
 
Milwaukee-Waukesha-West Allis, WI
 
2000
 
203,545

 
98.7
%
 
1,525

 
7.59

 
 
Hobby Lobby, Kohl's
 
ShopKo
513

 
Moundsville Plaza
 
Moundsville
 
WV
 
Wheeling, WV-OH
 
2004
 
176,156

 
96.0
%
 
1,206

 
7.13

 
Kroger
 
Big Lots, Dunham's Sports, Peebles
 
 
514

 
Grand Central Plaza
 
Parkersburg
 
WV
 
Parkersburg-Vienna, WV
 
1986
 
75,344

 
100.0
%
 
801

 
10.63

 
 
Office Depot, O'Reilly Auto Parts, T.J.Maxx
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL PORTFOLIO
 
 
 
 
 
 
 
 
 
86,295,214

 
92.6
%
 
$
953,696

 
$
12.90

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) * Indicates grocer is not owned; ** Indicates new grocer at lease to replace recently dark grocer.
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Supplemental Disclosure - Three Months Ended September 30, 2016
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GUIDANCE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Disclosure
Three Months Ended September 30, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





GUIDANCE & ADDITIONAL DISCLOSURES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2016 GUIDANCE
 
 
 
 
 
 
 
 
 
 
 
 
 
Updated
 
Prior
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NAREIT FFO per common share - diluted
$2.04 - $2.06

 
$2.03 - $2.06

 
 
 
 
 
Key Underlying Assumptions
 
 
 
 
 
 
 
 
 
Same property NOI growth
2.5 - 3.0%

 
2.5 - 3.5%

 
 
 
 
 
 
Percent leased (at year-end)
92.8 - 93.0%

 
92.8 - 93.0%

 
 
 
 
 
 
Total rent spread (cash)
10 - 15%

 
10 - 15%

 
 
 
 
 
 
Total leasing related capital expenditures
$155 - $175M

 
$155 - $175M

 
 
 
 
 
 
 
Anchor space repositioning and redevelopment related spending
$95 - $110M

 
$95 - $110M

 
 
 
 
 
 
General and administrative expenses (1)
$92 - $93M

 
$92 - $94M

 
 
 
 
 
 
 
Audit committee review expenses
$4M

 
$4M

 
 
 
 
 
 
 
Executive severance expenses
$2M

 
$2M

 
 
 
 
 
 
Straight-line rental income and amortization of above- and below-market rent and tenant inducements and straight-line ground rent expense
$47 - $49M

 
$47 - $50M

 
 
 
 
 
 
Cash interest expense
$233 - $234M

 
$233 - $235M

 
 
 
 
 
 
GAAP interest expense
$227 - $228M

 
$227 - $229M

 
 
 
 
 
 
Dispositions
$100 - $125M

 
$75 - $175M

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ADDITIONAL DISCLOSURES - as of 9/30/16 (dollars in millions, except per square foot amounts)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Leases signed but not yet commenced:
Leases
 
GLA
 
ABR
 
ABR/SF
 
 
 
 
≥ 10,000 SF
47

 
1,032,400

 
$
14.1

 
$
13.62

 
 
 
 
< 10,000 SF
301

 
865,123

 
18.0

 
20.75

 
 
 
 
TOTAL
348

 
1,897,523

 
$
32.1

 
$
16.87

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Does not include any expectations of additional one-time items, including, but not limited to, litigation and other non-routine legal expenses.
 
 
 
 
 
 
 
 
 
 
 
 
 
 





Supplemental Disclosure - Three Months Ended September 30, 2016
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