EX-99.2 3 ex99_2.htm EXHIBIT 99.2 Exhibit 99.2


 
 
Exhibit 99.2
 
 
Large WRI Logo
Supplemental Financial Information
September 30, 2005
(Unaudited)





   
Table of Contents
Page No.
   
Corporate Profile
1
Statements of Consolidated Income
2
Consolidated Balance Sheets
3
Statements of Consolidated Income at Prorata Share
4
Consolidated Balance Sheets at Prorata Share
5
Summary Operating Data
6
Funds from Operations
 
Dividends
 
General and Administrative Expenses
 
Net Operating Income
 
Rentals
 
Interest Expense
 
Property
 
Financial Statements of Unconsolidated Joint Ventures at Prorata Share
8
Summary Balance Sheet Information
9
Common Share Data
 
Capitalization
 
Capital Availability
 
Credit Ratings
 
Debt Information
10
Outstanding Balance Summary
 
Fixed vs Variable Rate Debt
 
Secured vs Unsecured Debt
 
Coverage Ratios
 
Weighted Average Interest Rates
 
Schedule of Maturities
 
Other Information
12
Tenant Diversification
 
Lease Expirations
 
Leasing Production
 
Average Minimum Rent per Square Foot
 
Property Information
14
Acquisition Summary
 
New Development Summary
 
Property Investment Summary
 
Disposition Summary
 
Occupancy
 
Total Operating Income at Prorata Share by Geographic Region
 
Property Listing
 
 
This supplemental financial information package contains historical information of the Company and is intended to supplement the Company’s Annual Report on Form 10-K for the year ended December 31, 2004, and its unaudited quarterly financial statements.
 
Certain information contained in this Supplemental Financial Information package includes certain forward-looking statements reflecting Weingarten Realty Investors’ expectations in the near term that involve a number of risks and uncertainties; however, many factors may materially affect the actual results, including demand for our properties, changes in rental and occupancy rates, changes in property operating costs, interest rate fluctuations, and changes in local and general economic conditions. Accordingly, there is no assurance that WRI’s expectations will be realized.






Weingarten Realty Investors
Corporate Profile


General Description


Weingarten Realty Investors is an unincorporated trust organized under the Texas Real Estate Investment Trust Act that, through its predecessor entity, began the ownership and development of shopping centers and other commercial real estate in 1948. As of September 30, 2005, we owned or operated under long-term leases, interests in 351 developed income-producing properties and four properties that are in various stages of development, which are located in 21 states that span the southern half of the United States from coast to coast. Included in the portfolio are 294 shopping centers and 61 industrial projects. Our interests in these properties aggregated approximately 47.1 million square feet of building area. Our properties were 94.7% leased as of September 30, 2005, and historically our portfolio occupancy rate has never been below 90%.

Corporate Office
   
     
2600 Citadel Plaza Drive
   
P. O. box 924133
   
Houston, TX 77292-4133
   
713-866-6000
   
www.weingarten.com
   
     
Regional Offices
   
     
Atlanta, GA
Ft. Lauderdale, FL
Phoenix, AZ
Austin, TX
Las Vegas, NV
Raleigh, NC
Dallas, TX
Los Angeles, CA
Sacramento, CA
Denver, CO (Miller Weingarten)
Orlando, FL
 
     
     
Stock Listings
   
     
New York Stock Exchange:
   
Common Shares
WRI
 
Series D Preferred Shares
WRIPrD
 
Series E Preferred Shares
WRIPrE
 


Page 1



Weingarten Realty Investors
Statements of Consolidated Income
(in thousands, except per share amounts)
(As reported in 10-Q)


   
Three Months Ended
 
Nine Months Ended
                 
   
September 30,
 
September 30,
 
Twelve Months Ended December 31,
 
   
2005
 
2004
 
2005
 
2004
 
2004
 
2003
 
2002
 
2001
 
                                   
Revenues:
                                                 
Rentals
 
$
137,121
 
$
125,654
 
$
400,806
 
$
357,527
 
$
484,322
 
$
396,507
 
$
343,339
 
$
288,293
 
Other
   
2,963
   
1,426
   
7,244
   
4,734
   
10,180
   
8,571
   
6,126
   
5,167
 
Total
   
140,084
   
127,080
   
408,050
   
362,261
   
494,502
   
405,078
   
349,465
   
293,460
 
                                                   
Expenses:
                                                 
Depreciation and amortization
   
32,285
   
29,713
   
93,985
   
84,160
   
114,077
   
90,496
   
74,638
   
63,194
 
Operating
   
20,803
   
20,473
   
59,203
   
55,573
   
77,003
   
62,835
   
53,167
   
44,933
 
Ad valorem taxes
   
16,965
   
14,040
   
48,619
   
42,347
   
56,153
   
45,594
   
41,983
   
35,901
 
General and administrative
   
4,354
   
4,085
   
13,123
   
12,047
   
16,122
   
13,820
   
11,148
   
9,570
 
Impairment loss
                     
2,700
   
3,550
                   
Total
   
74,407
   
68,311
   
214,930
   
196,827
   
266,905
   
212,745
   
180,936
   
153,598
 
                                                   
Operating Income
   
65,677
   
58,769
   
193,120
   
165,434
   
227,597
   
192,333
   
168,529
   
139,862
 
Interest Expense
   
(32,795
)
 
(29,826
)
 
(95,285
)
 
(85,699
)
 
(115,506
)
 
(88,871
)
 
(65,863
)
 
(54,473
)
Loss on Redemption of Preferred Shares
                     
(3,566
)
 
(3,566
)
 
(2,739
)
           
Equity in Earnings of Joint Ventures, net (a)
   
1,895
   
1,615
   
4,788
   
4,431
   
5,384
   
4,681
   
3,930
   
5,424
 
Income Allocated to Minority Interests
   
(1,385
)
 
(1,001
)
 
(4,530
)
 
(2,855
)
 
(4,928
)
 
(2,723
)
 
(3,553
)
 
(475
)
Gain (Loss) on Sale of Properties
   
132
   
370
   
22,111
   
789
   
1,535
   
714
   
(110
)
 
8,339
 
Income From Continuing Operations
   
33,524
   
29,927
   
120,204
   
78,534
   
110,516
   
103,395
   
102,933
   
98,677
 
Operating Income From Discontinued Operations
   
219
   
1,311
   
2,364
   
4,865
   
5,982
   
6,846
   
9,462
   
9,865
 
Gain on Sale of Properties From Discontinued Operations
   
27,740
         
45,682
   
13,430
   
24,883
   
6,039
   
19,472
       
Income From Discontinued Operations
   
27,959
   
1,311
   
48,046
   
18,295
   
30,865
   
12,885
   
28,934
   
9,865
 
Net Income
   
61,483
   
31,238
   
168,250
   
96,829
   
141,381
   
116,280
   
131,867
   
108,542
 
Less:  Preferred Dividends
   
2,525
   
2,428
   
7,576
   
4,959
   
7,470
   
15,912
   
19,756
   
19,703
 
Original Issuance Costs associated with Redeemed Series A Preferred Shares
                                 
2,488
             
Net Income Available to Common Shareholders
 
$
58,958
 
$
28,810
 
$
160,674
 
$
91,870
 
$
133,911
 
$
97,880
 
$
112,111
 
$
88,839
 
Net Income Per Common Share - Basic:
 
$
0.66
 
$
0.33
 
$
1.80
 
$
1.08
 
$
1.55
 
$
1.24
 
$
1.44
 
$
1.23
 
Net Income Per Common Share - Diluted:
 
$
0.65
 
$
0.33
 
$
1.77
 
$
1.07
 
$
1.54
 
$
1.24
 
$
1.43
 
$
1.23
 

(a) 
See Page 8 for the Company’s prorata share of the operating results of its unconsolidated joint ventures.


Page 2



Weingarten Realty Investors
Consolidated Balance Sheets
(in thousands, except per share amounts)
(As reported in 10-Q)


   
September 30,
 
December 31,
 
   
2005
 
2004
 
           
ASSETS
             
               
Property
 
$
3,955,425
 
$
3,751,607
 
Accumulated Depreciation
   
(664,534
)
 
(609,772
)
Property - net
   
3,290,891
   
3,141,835
 
               
Investment in Real Estate Joint Ventures (a)
   
61,006
   
48,382
 
Total
   
3,351,897
   
3,190,217
 
               
Notes Receivable from Real Estate Joint Ventures and Partnerships
   
29,235
   
16,593
 
Unamortized Debt and Lease Costs
   
95,527
   
91,155
 
Accrued Rent and Accounts Receivable (net of allowance for doubtful accounts of $4,848 in 2005 and $4,205 in 2004)
   
51,921
   
57,964
 
Cash and Cash Equivalents
   
23,961
   
45,415
 
Restricted Deposits and Mortgage Escrows
   
66,160
   
10,623
 
Other
   
48,699
   
58,351
 
Total
 
$
3,667,400
 
$
3,470,318
 
               
LIABILITIES AND SHAREHOLDERS’ EQUITY
             
               
Debt
 
$
2,246,583
 
$
2,105,948
 
Accounts Payable and Accrued Expenses
   
90,492
   
99,680
 
Other
   
102,108
   
94,800
 
Total
   
2,439,183
   
2,300,428
 
               
Minority Interest
   
85,035
   
73,930
 
               
Commitments and Contingencies
             
               
Shareholders’ Equity:
             
Preferred Shares of Beneficial Interest - par value, $.03 per share; shares authorized: 10,000;
             
6.75% Series D cumulative redeemable preferred shares of beneficial interest; 100 shares issued and outstanding in 2005 and 2004; liquidation preference $75,000
   
3
   
3
 
6.95% Series E cumulative redeemable preferred shares of beneficial interest; 29 shares issued and outstanding in 2005 and 2004; liquidation preference $72,500
   
1
   
1
 
Common Shares of Beneficial Interest - par value, $.03 per share; shares authorized: 150,000; shares issued and outstanding: 89,307 in 2005 and 89,066 in 2004
   
2,683
   
2,672
 
Additional Paid In Capital
   
1,287,314
   
1,283,270
 
Accumulated Dividends in Excess of Net Income
   
(142,331
)
 
(185,243
)
Accumulated Other Comprehensive Loss
   
(4,488
)
 
(4,743
)
Shareholders’ Equity
   
1,143,182
   
1,095,960
 
Total
 
$
3,667,400
 
$
3,470,318
 

(a)
This represents the Company’s investment of its unconsolidated joint ventures. See page 8 for additional information.




Page 3



Weingarten Realty Investors
Statements of Consolidated Income at Prorata Share (1)
(in thousands, except per share amounts)


   
Three Months Ended
 
Nine Months Ended
             
   
September 30,
 
September 30,
 
Twelve Months Ended December 31,
 
   
2005
 
2004
 
2005
 
2004
 
2004
 
2003
 
2002
 
2001
 
                                   
Revenues:
                                                 
Rentals
 
$
138,269
 
$
125,942
 
$
403,626
 
$
358,617
 
$
485,847
 
$
397,052
 
$
347,768
 
$
294,734
 
Other
   
3,202
   
1,817
   
8,020
   
5,598
   
11,098
   
10,803
   
8,440
   
7,147
 
Total
   
141,471
   
127,759
   
411,646
   
364,215
   
496,945
   
407,855
   
356,208
   
301,881
 
                                                   
Expenses:
                                                 
Depreciation and amortization
   
32,192
   
29,411
   
93,990
   
83,277
   
113,822
   
88,892
   
74,866
   
64,088
 
Operating
   
20,688
   
20,431
   
59,036
   
55,440
   
76,874
   
62,684
   
53,358
   
45,650
 
Ad valorem taxes
   
17,041
   
14,015
   
48,891
   
42,359
   
56,201
   
45,750
   
42,497
   
36,770
 
General and administrative
   
4,371
   
4,080
   
13,173
   
12,049
   
16,125
   
13,821
   
11,145
   
9,572
 
Impairment loss
                     
2,700
   
3,550
                   
Total
   
74,292
   
67,937
   
215,090
   
195,825
   
266,572
   
211,147
   
181,866
   
156,080
 
                                                   
Operating Income
   
67,179
   
59,822
   
196,556
   
168,390
   
230,373
   
196,708
   
174,342
   
145,801
 
Interest Expense
   
(32,573
)
 
(29,264
)
 
(94,465
)
 
(84,267
)
 
(113,734
)
 
(88,572
)
 
(67,653
)
 
(56,647
)
Loss on Early Redemption of Preferred Shares
                     
(3,566
)
 
(3,566
)
 
(2,739
)
           
Income Allocated to Minority Interests
   
(1,308
)
 
(999
)
 
(3,881
)
 
(2,786
)
 
(3,990
)
 
(3,236
)
 
(3,720
)
 
(272
)
Gain (Loss) on Sale of Properties
   
226
   
368
   
21,994
   
763
   
1,433
   
1,234
   
(36
)
 
9,795
 
Income From Continuing Operations
   
33,524
   
29,927
   
120,204
   
78,534
   
110,516
   
103,395
   
102,933
   
98,677
 
Operating Income From Discontinued Operations
   
219
   
1,311
   
2,364
   
4,865
   
5,982
   
6,846
   
9,462
   
9,865
 
Gain on Sale of Properties From Discontinued Operations
   
27,740
         
45,682
   
13,430
   
24,883
   
6,039
   
19,472
       
Income From Discontinued Operations
   
27,959
   
1,311
   
48,046
   
18,295
   
30,865
   
12,885
   
28,934
   
9,865
 
Net Income
   
61,483
   
31,238
   
168,250
   
96,829
   
141,381
   
116,280
   
131,867
   
108,542
 
Less: Preferred Dividends
   
2,525
   
2,428
   
7,576
   
4,959
   
7,470
   
15,912
   
19,756
   
19,703
 
Original Issuance Costs associated with Redeemed Series A Preferred Shares
                                 
2,488
             
Net Income Available to Common Shareholders
 
$
58,958
 
$
28,810
 
$
160,674
 
$
91,870
 
$
133,911
 
$
97,880
 
$
112,111
 
$
88,839
 
Net Income Per Common Share - Basic:
 
$
0.66
 
$
0.33
 
$
1.80
 
$
1.08
 
$
1.55
 
$
1.24
 
$
1.44
 
$
1.23
 
Net Income Per Common Share - Diluted:
 
$
0.65
 
$
0.33
 
$
1.77
 
$
1.07
 
$
1.54
 
$
1.24
 
$
1.43
 
$
1.23
 

(1) 
The Statements of Consolidated Income at Prorata Share include the real estate operations of joint ventures at WRI’s ownership percentages ranging from 20% to 75% except for the operations of down-reit partnerships, which are included at 100% with the applicable minority interest for the items listed above Income From Continuing Operations.



Page 4



Weingarten Realty Investors
Consolidated Balance Sheets at Prorata Share (1)
(in thousands, except per share amounts)


   
September 30,
 
December 31,
 
   
2005
 
2004
 
           
ASSETS
             
               
Property
 
$
4,001,388
 
$
3,773,614
 
Accumulated Depreciation
   
(666,996
)
 
(613,780
)
Property - net
   
3,334,392
   
3,159,834
 
               
Notes Receivable from Real Estate Joint Ventures and Partnerships
   
24,787
   
22,861
 
Unamortized Debt and Lease Costs
   
96,969
   
91,467
 
Accrued Rent and Accounts Receivable (net of allowance for doubtful accounts of $4,867 in 2005 and $4,205 in 2004)
   
51,044
   
55,703
 
Cash and Cash Equivalents
   
24,187
   
48,050
 
Restricted Deposits and Mortgage Escrows
   
65,785
   
9,861
 
Other
   
51,750
   
59,767
 
Total
 
$
3,648,914
 
$
3,447,543
 
               
LIABILITIES AND SHAREHOLDERS’ EQUITY
             
               
Debt
 
$
2,231,828
 
$
2,088,705
 
Accounts Payable and Accrued Expenses
   
90,049
   
98,411
 
Other
   
101,390
   
95,049
 
Total
   
2,423,267
   
2,282,165
 
               
Minority Interest
   
82,465
   
69,418
 
               
Commitments and Contingencies
             
               
Shareholders’ Equity:
             
Preferred Shares of Beneficial Interest - par value, $.03 per share; shares authorized: 10,000;
             
6.75% Series D cumulative redeemable preferred shares of beneficial interest; 100 shares issued and outstanding in 2005 and 2004; liquidation preference $75,000
   
3
   
3
 
6.95% Series E cumulative redeemable preferred shares of beneficial interest; 29 shares issued and outstanding in 2005 and 2004; liquidation preference $72,500 
   
1
   
1
 
Common Shares of Beneficial Interest - par value, $.03 per share; shares authorized: 150,000; shares issued and outstanding: 89,307 in 2005 and 89,066 in 2004
   
2,683
   
2,672
 
Additional Paid In Capital
   
1,287,314
   
1,283,270
 
Accumulated Dividends in Excess of Net Income
   
(142,331
)
 
(185,243
)
Accumulated Other Comprehensive Loss
   
(4,488
)
 
(4,743
)
Shareholders’ Equity
   
1,143,182
   
1,095,960
 
Total
 
$
3,648,914
 
$
3,447,543
 

(1)
The Consolidated Balance Sheets at Prorata Share include the real estate operations of joint ventures at WRI’s ownership percentages ranging from 20% to 75% except for the operations of down-reit partnerships, which are included at 100% with the applicable minority interest for items listed above Commitments and Contingencies caption.


Page 5



Weingarten Realty Investors
Summary Operating Data
(in thousands, except per share amounts)


   
Three Months Ended
 
Nine Months Ended
 
   
September 30,
 
September 30,
 
   
2005
 
2004
 
2005
 
2004
 
                   
Funds from Operations
                         
Numerator:
                         
Net income available to common shareholders
 
$
58,958
 
$
28,810
 
$
160,674
 
$
91,870
 
Depreciation and amortization
   
29,946
   
28,092
   
87,705
   
79,873
 
Depreciation and amortization of unconsolidated joint ventures
   
735
   
715
   
2,578
   
2,073
 
Gain on sale of properties
   
(27,880
)
 
(370
)
 
(67,593
)
 
(14,195
)
(Gain) loss on sale of properties of unconsolidated joint ventures
   
(86
)
 
2
   
(83
)
 
2
 
Funds from Operations - Basic
   
61,673
   
57,249
   
183,281
   
159,623
 
Funds from operations attributable to operating partnership units
   
2,176
   
1,625
   
6,410
   
4,463
 
Funds from Operations - Diluted
 
$
63,849
 
$
58,874
 
$
189,691
 
$
164,086
 
                           
Denominator:
                         
Weighted average shares outstanding - Basic
   
89,257
   
86,951
   
89,186
   
85,237
 
Effect of dilutive securities:
                         
Share options and awards
   
930
   
920
   
880
   
874
 
Operating partnership units
   
3,129
   
2,666
   
3,060
   
2,364
 
Weighted average shares outstanding - Diluted
   
93,316
   
90,537
   
93,126
   
88,475
 
                           
Funds from Operations per Share - Basic
 
$
0.69
 
$
0.66
 
$
2.06
 
$
1.87
 
                           
Funds from Operations per Share - Diluted
 
$
0.68
 
$
0.65
 
$
2.04
 
$
1.85
 
                           
Growth in Funds from Operations per Share - Diluted
         
4.6%
 
       
10.3%
 
                           
Dividends
                         
Common Dividends per Share
 
$
0.44
 
$
0.415
 
$
1.32
 
$
1.245
 
                           
Common Dividends Paid as a % of Funds from Operations
   
63.7%
 
 
64.4%
 
 
64.3%
 
 
67.6%
 
                           
General and Administrative Expenses *
                         
General and Administrative Expenses/Total Revenue
   
3.1%
 
 
3.2%
 
 
3.2%
 
 
3.3%
 
                           
General and Administrative Expenses / Total Assets before Depreciation
   
.10%
 
 
.10%
 
 
.31%
 
 
.30%
 
                           
Net Operating Income *
                         
Same Property NOI Growth: **
                         
Retail
   
4.6%
 
 
4.0%
 
 
4.3%
 
 
3.8%
 
Industrial
   
5.1%
 
 
-1.0%
 
 
3.9%
 
 
-1.0%
 
Total
   
4.6%
 
 
3.5%
 
 
4.2%
 
 
3.3%
 

* 
Includes the Company’s share of unconsolidated joint ventures and excludes its partners’ share of consolidated joint ventures (“Prorata Share”)
**
Same Property NOI Growth excludes the effect of lease cancellation income.



Page 6



Weingarten Realty Investors
Summary Operating Data (continued)
(in thousands)


   
Three Months Ended
 
Nine Months Ended
 
   
September 30,
 
September 30,
 
   
2005
 
2004
 
2005
 
2004
 
                   
Rentals (As Reported in 10-Q)
                         
Base minimum rent, net
 
$
106,539
 
$
97,207
 
$
313,770
 
$
279,333
 
Straight line rent
   
2,132
   
1,530
   
5,934
   
4,556
 
Over/Under-market rentals, net
   
134
   
17
   
211
   
17
 
Percentage rent
   
1,200
   
1,373
   
3,535
   
3,906
 
Tenant reimbursements
   
27,116
   
25,527
   
77,356
   
69,715
 
Total
 
$
137,121
 
$
125,654
 
$
400,806
 
$
357,527
 


   
Three Months Ended
 
Nine Months Ended
 
   
September 30,
 
September 30,
 
   
2005
 
2004
 
2005
 
2004
 
                   
Rentals (Prorata Share)
                         
Base minimum rent, net
 
$
107,527
 
$
97,592
 
$
316,106
 
$
280,604
 
Straight line rent
   
2,209
   
1,502
   
6,109
   
4,487
 
Over/Under-market rentals, net
   
191
   
59
   
370
   
100
 
Percentage rent
   
1,229
   
1,368
   
3,612
   
3,908
 
Tenant reimbursements
   
27,113
   
25,421
   
77,429
   
69,518
 
Total
 
$
138,269
 
$
125,942
 
$
403,626
 
$
358,617
 


   
Three Months Ended
 
Nine Months Ended
 
   
September 30,
 
September 30,
 
   
2005
 
2004
 
2005
 
2004
 
                   
Interest Expense (Prorata Share)
                         
Interest paid or accrued
 
$
35,125
 
$
31,725
 
$
102,159
 
$
89,841
 
Interest on preferred shares subject to mandatory redemption
                     
2,007
 
Over-market mortgage adjustment
   
(1,764
)
 
(1,369
)
 
(5,155
)
 
(3,695
)
                           
Gross interest expense
   
33,361
   
30,356
   
97,004
   
88,153
 
                           
Less:
                         
Capitalized interest
   
(788
)
 
(1,092
)
 
(2,539
)
 
(3,886
)
                           
Interest expense, at prorata share
 
$
32,573
 
$
29,264
 
$
94,465
 
$
84,267
 


   
September 30,
 
December 31,
 
   
2005
 
2004
 
           
Property at Prorata Share
             
Land
 
$
755,077
 
$
719,029
 
Land held for development
   
20,552
   
20,697
 
Land under development
   
16,530
   
19,325
 
Buildings and improvements
   
3,160,201
   
2,945,067
 
Construction in-progress
   
49,028
   
64,785
 
Property held for sale
         
4,711
 
               
Total
 
$
4,001,388
 
$
3,773,614
 


Page 7



Weingarten Realty Investors
Financial Statements of Unconsolidated Joint Ventures at Prorata Share
(in thousands)


   
Three Months Ended
 
Nine Months Ended
 
   
September 30,
 
September 30,
 
   
2005
 
2004
 
2005
 
2004
 
                   
Revenues:
 
$
4,100
 
$
3,388
 
$
11,839
 
$
10,097
 
                           
Expenses:
                         
Depreciation and amortization
   
747
   
751
   
2,651
   
2,139
 
Operating
   
528
   
533
   
1,594
   
1,494
 
Interest
   
791
   
415
   
2,163
   
1,370
 
Ad valorem taxes
   
541
   
332
   
1,481
   
1,116
 
General and administrative
   
22
   
(2
)
 
76
   
41
 
Total
   
2,629
   
2,029
   
7,965
   
6,160
 
                           
Gain (loss) on sale of property
   
86
   
(2
)
 
83
   
(2
)
                           
Net income
 
$
1,557
 
$
1,357
 
$
3,957
 
$
3,935
 


   
September 30,
 
December 31,
 
   
2005
 
2004
 
           
ASSETS
             
               
Property
 
$
127,716
 
$
104,494
 
Accumulated Depreciation
   
(13,700
)
 
(12,931
)
Property - net
   
114,016
   
91,563
 
               
Unamortized Debt and Lease Costs
   
4,295
   
3,509
 
Accrued Rent and Accounts Receivable
   
1,198
   
728
 
Cash and Cash Equivalents
   
2,209
   
4,161
 
Other
   
1,824
   
693
 
               
Total
 
$
123,542
 
$
100,654
 
               
LIABILITIES AND SHAREHOLDERS’ EQUITY
             
               
Debt
 
$
41,688
 
$
39,774
 
Amounts Payable to WRI
   
11,112
   
6,273
 
Accounts Payable and Accrued Expenses
   
3,442
   
3,072
 
Total
   
56,242
   
49,119
 
               
Accumulated Equity
   
67,300
   
51,535
 
               
Total
 
$
123,542
 
$
100,654
 

Notes:
The Consolidated Financial Statements at prorata share include only the real estate operations of joint ventures at WRI’s ownership percentages.


Page 8



Weingarten Realty Investors
Summary Balance Sheet Information
(in thousands, except common share data and percentages)


   
September 30,
 
December 31,
 
   
2005
 
2004
 
           
Common Share Data
             
Closing Market Price
 
$
37.85
 
$
40.10
 
               
Dividend Yield
   
4.65%
 
 
4.14%
 
               
90-Day Average Trading Volume
   
273,442
   
341,800
 
               
               
Capitalization (As reported)
             
Debt
 
$
2,246,583
 
$
2,105,948
 
Preferred Shares
   
147,500
   
147,500
 
Common Shares at Market
   
3,380,270
   
3,571,547
 
Operating Partnership Units at Market
   
118,433
   
119,979
 
Total Market Capitalization
 
$
5,892,786
 
$
5,944,974
 
               
Debt to Total Market Capitalization
   
38.1%
 
 
35.4%
 
               
               
Capitalization (Prorata)
             
Debt
 
$
2,231,828
 
$
2,088,705
 
Preferred Shares
   
147,500
   
147,500
 
Common Shares at Market
   
3,380,270
   
3,571,547
 
Operating Partnership Units at Market
   
118,433
   
119,979
 
Total Market Capitalization
 
$
5,878,031
 
$
5,927,731
 
               
Debt to Total Market Capitalization
   
38.0%
 
 
35.2%
 
               
               
Capital Availability
             
Unused Portion of $400 MM Revolver
 
$
235,641
 
$
323,371
 
Shelf Registration - $1 Billion
   
160,430
   
160,430
 
Shelf Registration - $1.5 Billion
   
1,500,000
   
1,500,000
 
Shelf Registration - $50 Million
   
50,000
   
50,000
 
Total
 
$
1,946,071
 
$
2,033,801
 
               
               
Credit Ratings
   
S&P
   
Moody’s
 
               
Senior Debt
   
A
   
A3
 
Preferred Shares
   
A-
   
baa1
 


Page 9



Weingarten Realty Investors
Debt Information
(in thousands, except percentages)


       
3rd Quarter
     
4th Quarter
 
   
September 30,
 
Weighted
 
December 31,
 
Weighted
 
   
2005
 
Average Rate
 
2004
 
Average Rate
 
Outstanding Balance Summary
                         
Mortgage Debt
 
$
791,552
   
7.31%
 
$
685,461
   
7.28%
 
7% 2011 Bonds
   
200,000
   
7.00%
 
 
200,000
   
7.00%
 
Unsecured Notes Payable
   
1,064,867
   
5.86%
 
 
1,102,367
   
5.89%
 
Revolving Credit Agreements (1)
   
149,430
   
4.41%
 
 
61,700
   
5.55%
 
Industrial Revenue Bonds
   
7,274
   
4.20%
 
 
7,422
   
3.06%
 
Obligations under Capital Leases
   
33,460
   
5.32%
 
 
48,998
   
5.62%
 
Total Debt - As Reported
   
2,246,583
   
6.37%
 
 
2,105,948
   
6.29%
 
Less: Minority Partners’ Interests
   
(56,443
)
       
(57,017
)
     
Plus: WRI Share of Unconsolidated Joint Ventures
   
41,688
         
39,774
       
Total Debt - Prorata Share
 
$
2,231,828
   
6.37%
 
$
2,088,705
   
6.29%
 

   
September 30,
     
December 31,
     
   
2005
 
% of Total
 
2004
 
% of Total
 
Fixed vs Variable Rate Debt (at Prorata Share)
                         
(includes the effect of interest rate swaps)
                         
Fixed-rate debt
 
$
1,962,700
   
87.9%
 
$
1,869,590
   
89.5%
 
Variable-rate debt
   
269,128
   
12.1%
 
 
219,115
   
10.5%
 
Total
 
$
2,231,828
   
100.0%
 
$
2,088,705
   
100.0%
 
                           
 
Secured vs Unsecured Debt (at Prorata Share)
                         
Secured Debt
 
$
818,960
   
36.7%
 
$
724,201
   
34.7%
 
Unsecured Debt
   
1,412,868
   
63.3%
 
 
1,364,504
   
65.3%
 
Total
 
$
2,231,828
   
100.0%
 
$
2,088,705
   
100.0%
 
                           
 
Coverage Ratios (at Prorata Share trailing 4 quarters)
                         
Fixed Charge Coverage
   
2.59x
         
2.61x
       
Interest Coverage
   
2.73x
         
2.77x
       
Debt Service Coverage
   
2.69x
         
2.70x
       

   
As
 
Prorata
 
   
Reported
 
Share
 
Weighted Average Interest Rates
             
Three months ended 09/30/05
   
6.37%
 
 
6.37%
 
Nine months ended 09/30/05
   
6.31%
 
 
6.32%
 
Twelve months ended 12/31/04
   
6.07%
 
 
6.07%
 
               

(1)
Weighted average revolving interest rate excluding the effect of the commitment fee was 2.52% in fourth quarter 2004 and 3.71% in third quarter 2005.


Page 10



Weingarten Realty Investors
Debt Information
(in thousands, except percentages)


Schedule of Maturities at September 30, 2005

   
As Reported
 
Prorata Share
 
   
Maturities
 
Rate
 
Maturities
 
Rate
 
Floating Rate
 
Fixed Rate
 
                           
2005 (1)
 
$
22,140
   
6.49%
 
$
22,006
   
6.50%
 
$
3,610
 
$
18,396
 
2006 (2)
   
62,849
   
6.27%
 
 
63,928
   
6.26%
 
 
7,777
   
56,151
 
2007 (3)
   
103,498
   
6.52%
 
 
102,910
   
6.52%
 
 
422
   
102,488
 
2008
   
236,010
   
7.04%
 
 
235,400
   
7.06%
 
 
429
   
234,971
 
2009
   
103,165
   
6.73%
 
 
101,595
   
6.75%
 
 
9,795
   
91,800
 
2010
   
114,143
   
6.85%
 
 
126,099
   
6.88%
 
 
550
   
125,549
 
2011
   
326,126
   
6.98%
 
 
317,297
   
6.99%
 
       
317,297
 
2012
   
299,696
   
5.89%
 
 
298,888
   
5.90%
 
       
298,888
 
2013
   
277,368
   
6.17%
 
 
239,633
   
5.85%
 
       
239,633
 
2014
   
330,450
   
5.30%
 
 
352,341
   
5.43%
 
 
2,115
   
350,226
 
2015
   
112,255
   
5.94%
 
 
115,617
   
5.99%
 
       
115,617
 
Thereafter
   
92,235
   
7.79%
 
 
89,466
   
7.79%
 
       
89,466
 
Subtotal
   
2,079,935
         
2,065,180
         
24,698
   
2,040,482
 
                                       
Revolvers (4)
   
149,430
   
4.41%
 
 
149,430
   
4.41%
 
 
149,430
       
Other (5)
   
17,218
         
17,218
               
17,218
 
Swap Maturities:
                                     
2005
                           
15,000
   
(15,000
)
2006
                           
5,000
   
(5,000
)
2007
                           
25,000
   
(25,000
)
2014
                           
50,000
   
(50,000
)
Total
 
$
2,246,583
   
6.37%
 
$
2,231,828
   
6.37%
 
$
269,128
 
$
1,962,700
 

(1)
Includes $3.2 million of amortizing industrial revenue bonds with a final maturity date of 2016 that are currently callable by the lender.
(2)
Includes $7 million of MTN’s maturing 2026 with a 10 year put option and $25 million of MTN’s maturing 2028 with 7 ½, 12 and 20 year put options.
(3)
Includes $25 million of MTN’s maturing 2027 with 10 and 20 year put options.
(4)
Includes the effect of the commitment fee.
(5)
Other includes capital leases and market value of swaps.



Page 11



Weingarten Realty Investors
Tenant Diversification by Percent of Rental Revenues at Prorata Share
(in thousands, except percentages and # of units and leases)


               
% of Prorata
 
Square
Rank
 
Tenant Name
 
DBA’s
 
# of Units
 
Rental Revenue
 
Feet
1
 
The Kroger Co.
 
Kroger, Dillons, Smith’s Food, Ralphs, Fry’s Foods, King Soopers
 
32
 
2.95%
 
1,773
2
 
Safeway, Inc.
 
Safeway, Randall’s, Von’s, Tom Thumb
 
18
 
1.64%
 
943
3
 
T.J.X. Companies, Inc.
 
T.J. Maxx, Marshall’s
 
25
 
1.57%
 
731
4
 
Ross Stores, Inc.
 
Ross Dress For Less
 
26
 
1.49%
 
699
5
 
Publix Super Markets, Inc.
     
13
 
1.26%
 
696
6
 
Home Depot, Inc.
     
7
 
1.17%
 
733
7
 
Blockbuster Video
     
59
 
1.15%
 
322
8
 
Office Depot, Inc.
     
22
 
1.15%
 
528
9
 
Albertsons, Inc.
 
Albertsons, Sav-On
 
17
 
1.09%
 
677
10
 
Gap, Inc.
 
Gap, Old Navy, Banana Republic
 
20
 
1.00%
 
339
11
 
Barnes & Noble Inc.
 
Barnes & Noble, Bookstop Booksellers
 
12
 
0.99%
 
283
12
 
Staples, Inc.
     
12
 
0.68%
 
319
13
 
H E Butt Grocery
     
5
 
0.65%
 
302
14
 
Linens ‘ n Things, Inc.
     
8
 
0.63%
 
238
15
 
Grocers Supply Co. Inc.
 
Fiesta
 
9
 
0.62%
 
352
16
 
Office Max, Inc.
     
10
 
0.61%
 
237
17
 
Stage Stores
 
Beall’s, Palais Royal, Stages
 
22
 
0.60%
 
516
18
 
Petsmart, Inc.
     
11
 
0.60%
 
219
19
 
Toys ‘R’ Us
 
Toys ‘R’ Us, Babies ‘R’ Us
 
8
 
0.59%
 
304
20
 
Hollywood Entertainment
 
Hollywood Video
 
21
 
0.58%
 
140
21
 
Petco Animal Supplies, Inc.
     
15
 
0.57%
 
214
22
 
Stein Mart, Inc.
     
10
 
0.57%
 
371
23
 
Raley’s
 
Raley’s, Bel Air Markets
 
5
 
0.57%
 
277
24
 
Harris Teeter
     
6
 
0.56%
 
248
25
 
Dollar Tree Stores, Inc.
 
Dollar Tree, Greenbacks
 
30
 
0.55%
 
313
                     
   
Total
     
423
 
23.84%
 
11,774


Page 12



Weingarten Realty Investors
Leasing Information
(in thousands, except percentages and # of units and leases, prorata share)


Lease Expirations
             
   
Shopping Center
 
Industrial
 
Total
 
   
Percentage of
 
Percentage of
 
Percentage of
 
       
Prorata
     
Prorata
     
Prorata
 
Year Expiring
 
Sq. Ft.
 
Revenue
 
Sq. Ft.
 
Revenue
 
Sq. Ft.
 
Revenue
 
2005
   
1.97%
 
 
2.00%
 
 
5.82%
 
 
4.99%
 
 
2.79%
 
 
2.32%
 
2006
   
11.14%
 
 
12.05%
 
 
21.56%
 
 
22.10%
 
 
13.37%
 
 
13.12%
 
2007
   
12.49%
 
 
13.34%
 
 
29.31%
 
 
27.22%
 
 
16.09%
 
 
14.81%
 
2008
   
11.72%
 
 
12.11%
 
 
17.85%
 
 
19.95%
 
 
13.03%
 
 
12.94%
 
2009
   
11.36%
 
 
11.67%
 
 
6.90%
 
 
8.48%
 
 
10.40%
 
 
11.33%
 
2010-2014
   
33.44%
 
 
33.46%
 
 
18.53%
 
 
17.15%
 
 
30.25%
 
 
31.73%
 
2015-2024
   
16.56%
 
 
14.31%
 
 
0.04%
 
 
0.12%
 
 
13.03%
 
 
12.81%
 


Leasing Production
                 
   
Number
         
Increase in
 
   
of
 
Square
 
Increase in
 
Base Rent
 
   
Leases
 
Feet
 
Base Rent
 
After Capital
 
                   
Three Months Ended
                         
September 30, 2005
                         
Retail
   
274
   
1,027
   
7.6%
 
 
6.6%
 
Industrial
   
67
   
721
   
3.5%
 
 
2.6%
 
Total
   
341
   
1,748
   
6.9%
 
 
5.9%
 
                           
Three Months Ended
                         
September 30, 2004
                         
Retail
   
303
   
1,017
   
7.2%
 
 
3.5%
 
Industrial
   
70
   
383
   
-3.5%
 
 
-5.5%
 
Total
   
373
   
1,400
   
5.8%
 
 
2.3%
 
                           
Nine Months Ended
                         
September 30, 2005
                         
Retail
   
776
   
3,066
   
9.4%
 
 
7.1%
 
Industrial
   
197
   
2,173
   
1.2%
 
 
-0.2%
 
Total
   
973
   
5,239
   
7.6%
 
 
5.6%
 
                           
Nine Months Ended
                         
September 30, 2004
                         
Retail
   
808
   
2,772
   
7.8%
 
 
4.6%
 
Industrial
   
183
   
1,249
   
-2.8%
 
 
-5.3%
 
Total
   
991
   
4,021
   
6.0%
 
 
2.9%
 


Average Minimum Rent per Square Foot
                 
   
Quarter Ended
 
Quarter Ended
 
Quarter Ended
 
Quarter Ended
 
   
September 30, 2005
 
June 30, 2005
 
March 31, 2005
 
December 31, 2004
 
                   
Retail
 
$
11.35
 
$
11.27
 
$
11.17
 
$
11.01
 
Industrial
 
$
4.93
 
$
4.87
 
$
4.88
 
$
4.70
 


Page 13



Weingarten Realty Investors
Property Information
(in thousands)


Acquisition Summary
               
       
Sq. Ft.
 
Date
 
Total
Center
 
City/State
 
of Bldg. Area
 
Acquired
 
Investment
                 
Flamingo Pines Shopping Center
 
Pembroke Pines, Florida
 
257
 
01/28/05
   
Kennesaw 75 Business Park
 
Kennesaw, Georgia
 
178
 
02/23/05
   
Ravenstone Commons Shopping Center
 
Durham, North Carolina
 
60
 
03/22/05
   
Pinecrest Plaza
 
Pinehurst, North Carolina
 
250
 
04/06/05
   
Thompson Bridge Commons
 
Gainesville, Georgia
 
78
 
04/26/05
   
Best in the West Shopping Center
 
Las Vegas, Nevada
 
437
 
04/28/05
   
Lake Washington Crossing
 
Melbourne, Florida
 
30
 
05/20/05
   
Marshall’s Plaza
 
Modesto, California
 
79
 
05/31/05
   
Bull City Market
 
Durham, North Carolina
 
43
 
06/09/05
   
Johnston Road Plaza
 
Charlotte, North Carolina
 
80
 
06/09/05
   
Steele Creek Crossing
 
Charlotte, North Carolina
 
77
 
06/09/05
   
Freeport Business Center
 
Stafford, Texas
 
251
 
07/22/05
   
Thompson Bridge Commons (Outparcel)
 
Gainesville, Texas
 
0
 
07/28/05
   
Millpond Center
 
Lexington, Kentucky
 
117
 
07/28/05
   
Central Plano Business Park
 
Plano, Texas
 
138
 
09/28/05
   
                 
Total
     
2,075
     
$ 266,343


New Development Summary
                         
   
Total Square Feet
                     
   
of Building Area
 
Spent
 
Spent
 
Spent
 
Estimated
     
       
WRI’s
 
Thru
 
3rd Quarter
 
Inception
 
Final
     
Center Name
 
 Location
 
Total
 
Share
 
06/30/2005
 
2005
 
To Date
 
Investment
 
Anchor
 
                                    
Currently Under Development:
                                         
                                                   
Developments Commenced Prior to 2005
                                         
Laveen Village Marketplace
   
Laveen, Arizona
   
112
   
40
 
$
5,579
 
$
321
 
$
5,900
 
$
6,496
   
Fry’s
 
Heritage Station
   
Wake Forest, North Carolina
   
69
   
17
   
1,625
   
(112
)
 
1,513
   
1,625
   
Harris Teeter
 
Waterford Village
   
Leland, North Carolina
   
100
   
75
   
4,704
   
167
   
4,871
   
11,829
   
Harris Teeter
 
Alpine Valley Center
   
American Fork, Utah
   
234
   
31
   
3,116
   
195
   
3,311
   
4,078
   
Target
 
Glenwood Meadows
   
Glenwood Springs, Colorado
   
403
   
114
   
4,329
   
2,875
   
7,204
   
11,217
   
Target
 
                                                   
Sub-total of 5 Properties Commenced Prior to 2005
 
918
   
277
 
$
19,353
 
$
3,446
 
$
22,799
 
$
35,245
       
                                                   
                                                   
Developments Commenced During 2005
                                         
                                                   
Starr Plaza
   
McAllen, Texas
   
180
   
90
 
$
3,634
 
$
1,559
 
$
5,193
 
$
10,089
   
H.E.B.
 
Town Center at Timber Springs
   
Orlando, Florida
   
75
   
35
   
1,921
   
224
   
2,145
   
6,895
   
Wal-Mart
 
Village at Liberty Lake
   
Liberty Lake, Washington
   
161
   
14
   
0
   
304
   
304
   
2,618
   
Home Depot
 
                                           
Sub-total 3 Development Properties Commenced During 2005
 
416
   
139
   
5,555
   
2,087
   
7,642
   
19,602
       
Total 8 Properties Under Development
 
1,334
   
416
   
24,908
   
5,533
   
30,441
   
54,847
       
New Development on Existing Properties
             
2,174
   
2,196
   
4,370
             
                                                   
Total New Development
 
1,334
   
416
 
$
27,082
 
$
7,729
 
$
34,811
 
$
54,847
       
     

Notes:
The investment spent to date of $34.8 million includes $6.9 million, representing 65,000 square feet, that has been completed and transferred to income producing assets.



Page 14



Weingarten Realty Investors
Property Information (continued)
(in thousands at prorata share, except percentage)


Property Investment Summary
                     
       
New
 
Major
 
All
     
   
Acquisitions
 
Development
 
Repairs
 
Other
 
Total
 
                       
Nine Months Ended 09/30/2005
 
$
266,343
 
$
18,211
 
$
8,271
 
$
26,373
 
$
319,198
 
Year Ended 12/31/2004
   
511,245
   
37,836
   
12,265
   
41,983
   
603,329
 
Year Ended 12/31/2003
   
413,796
   
64,011
   
11,754
   
39,062
   
528,623
 
Year Ended 12/31/2002
   
247,678
   
70,325
   
7,800
   
27,184
   
352,987
 
Year Ended 12/31/2001
   
518,557
   
88,372
   
7,515
   
18,498
   
632,942
 






Disposition Summary
                 
       
Sq. Ft.
 
Date
 
Sales
 
Center
 
City/State
 
of Bldg. Area
 
Sold
 
Proceeds
 
                   
Bellfort Shopping Center
   
Houston, Texas
   
48
   
01/05/05
       
Mainland Mall
   
Texas City, Texas
   
69
   
03/04/05
       
Caprock Shopping Center-M. Ward's Building
   
Lubbock, Texas
   
113
   
03/18/05
       
East Sahara Service Center
   
Las Vegas, Nevada
   
66
   
03/24/05
       
University Place *
   
Shreveport, Louisiana
   
161
   
04/15/05
       
River Marketplace *
   
Lafayette, Louisiana
   
134
   
04/15/05
       
Walnut Creek Office Park
   
Austin, Texas
   
34
   
04/15/05
       
Bingle Shopping Center
   
Houston, Texas
   
46
   
05/05/05
       
McDermott Commons Shopping Center
   
Allen, Texas
   
56
   
05/23/05
       
Cypress Village
   
Cypress, Texas
   
25
   
06/01/05
       
Murphy Crossing Shopping Center
   
Murphy, Texas
   
46
   
06/23/05
       
Williams Trace Shopping Center
   
Sugarland, Texas
   
263
   
07/02/05
       
Coronado Shopping Center
   
El Paso, Texas
   
127
   
09/29/05
       
                           
           
1,188
       
$
152,766
 
                           

Note:
* Reflects sale of 80% interest in each center.





Occupancy
                   
   
September 30,
 
June 30,
 
March 31,
 
December 31,
 
September 30,
   
2005
 
2005
 
2005
 
2004
 
2004
                     
Shopping Center Portfolio
 
94.9%
 
94.8%
 
95.1%
 
94.8%
 
95.0%
Industrial Portfolio
 
93.8%
 
91.9%
 
89.5%
 
92.6%
 
91.5%
Total Portfolio
 
94.7%
 
94.2%
 
93.9%
 
94.3%
 
94.2%
                     

Note:
A space is considered occupied upon execution of a lease agreement.




Page 15



Weingarten Realty Investors
Total Operating Income at Prorata Share by Geographic Region (1)
(in thousands, except percentages)
 

   
Nine Months Ended September 30,
 
Twelve Months Ended December 31,
   
2005
 
%
 
2004
 
%
 
2004
 
%
 
2003
 
%
 
2002
 
%
 
2001
 
%
                                                 
Texas
 
$   72,281
 
36.7%
 
$   62,288
 
37.0%
 
$   82,904
 
36.0%
 
$   83,508
 
42.4%
 
$   78,407
 
45.0%
 
$   76,799
 
52.7%
California
 
27,522
 
14.0%
 
23,444
 
13.9%
 
32,206
 
14.0%
 
26,190
 
13.3%
 
22,139
 
12.7%
 
17,149
 
11.8%
Florida
 
25,478
 
13.0%
 
22,540
 
13.4%
 
30,225
 
13.1%
 
23,810
 
12.1%
 
18,128
 
10.4%
 
8,056
 
5.5%
Nevada
 
12,680
 
6.5%
 
10,022
 
6.0%
 
13,359
 
5.8%
 
12,132
 
6.2%
 
12,504
 
7.2%
 
10,880
 
7.5%
North Carolina
 
10,192
 
5.2%
 
8,447
 
5.0%
 
11,040
 
4.8%
 
8,401
 
4.3%
 
6,256
 
3.6%
 
290
 
0.2%
Arizona
 
7,766
 
4.0%
 
6,732
 
4.0%
 
9,020
 
3.9%
 
8,492
 
4.3%
 
7,746
 
4.4%
 
7,155
 
4.9%
Georgia
 
6,047
 
3.1%
 
3,901
 
2.3%
 
5,866
 
2.5%
 
2,086
 
1.1%
 
445
 
0.3%
 
51
 
0.0%
Louisiana
 
5,396
 
2.7%
 
5,951
 
3.5%
 
12,119
 
5.3%
 
6,527
 
3.3%
 
5,198
 
3.0%
 
3,608
 
2.5%
Colorado
 
5,056
 
2.6%
 
5,016
 
3.0%
 
6,997
 
3.0%
 
4,318
 
2.2%
 
2,165
 
1.2%
 
1,781
 
1.2%
New Mexico
 
4,685
 
2.4%
 
3,662
 
2.2%
 
4,998
 
2.2%
 
4,143
 
2.1%
 
3,990
 
2.3%
 
4,399
 
3.0%
Arkansas
 
3,463
 
1.8%
 
1,828
 
1.1%
 
2,296
 
1.0%
 
1,486
 
0.8%
 
2,221
 
1.3%
 
2,382
 
1.6%
Other
 
15,990
 
8.0%
 
14,559
 
8.6%
 
19,343
 
8.4%
 
15,615
 
7.9%
 
15,143
 
8.6%
 
13,251
 
9.1%
           
 
     
 
             
 
           
Total Operating Income
 
$ 196,556
 
100.0%
 
$ 168,390
 
100.0%
 
$ 230,373
 
100.0%
 
$ 196,708
 
100.0%
 
$ 174,342
 
100.0%
 
$ 145,801
 
100.0%
 
(1)
The Operating Income at Prorata Share includes the real estate operations of joint ventures at WRI’s ownership percentages ranging from 20% to 75% except for the operations of down-reit partnerships, which are included at 100% with the applicable minority interest.
 


Page 16




Weingarten Realty Investors
Property Information (continued)


Property Listing
     
Gross Leasable Area
       
WRI
   
Others
   
Center and Location
 
Anchors
 
Owned
   
(O.B.O.)
 
Total
                   
Houston and Harris County, Total
     
6,479,000
   
963,000
 
7,442,000
Alabama-Shepherd, S. Shepherd at W. Alabama
 
Bookstop, PetsMart
 
56,000
   
0
 
56,000
Bayshore Plaza, Spencer Hwy. at Burke Rd.
 
Fashion Bug, Fitness Connections (O.B.O.)
 
36,000
   
86,000
 
122,000
Bellaire Boulevard, Bellaire at S. Rice
 
Randall’s +
 
35,000
   
0
 
35,000
Braeswood Square, N. Braeswood at Chimney Rock
 
Belden’s +, Walgreen’s
 
103,000
   
0
 
103,000
Centre at Post Oak, Westheimer at Post Oak Blvd.
 
Marshall’s, Barnes & Noble, Old Navy, Grand Lux Café, Comp USA
 
184,000
   
0
 
184,000
Champions Village, F.M. 1960 at Champions Forest Dr.
 
Randall’s +, SteinMart, Palais Royal, Cost Plus, Barnes & Noble
 
408,000
   
0
 
408,000
Copperfield Village, Hwy. 6 at F.M. 529
 
Randall’s +, Ross Dress for Less
 
163,000
   
0
 
163,000
Crestview, Bissonnet at Wilcrest
 
Creative Connection
 
9,000
   
0
 
9,000
Crosby, F.M. 2100 at Kenning Road (61%)
 
Kroger +, Family Dollar
 
36,000
*
 
23,000
 
59,000
Cullen Place, Cullen at Reed
 
C&R Beauty Supply
 
7,000
   
0
 
7,000
Cullen Plaza, Cullen at Wilmington
 
Fiesta +, Family Dollar
 
83,000
   
0
 
83,000
Cypress Pointe, F.M. 1960 at Cypress Station
 
Kroger +, Office Max, Comp USA, Babies “R” Us
 
191,000
   
97,000
 
288,000
Eastpark, Mesa Rd. at Tidwell
 
CVS/pharmacy
 
113,000
   
0
 
113,000
Edgebrook, Edgebrook at Gulf Fwy.
 
Fiesta +, Bank One
 
78,000
   
0
 
78,000
Fiesta Village, Quitman at Fulton
 
Fiesta +
 
30,000
   
0
 
30,000
Fondren Southwest Village, Fondren at W. Bellfort
 
Fiesta +, Palais Royal, Anna’s Linens, Dollar Tree, Citi Trends
 
269,000
   
0
 
269,000
Fondren/West Airport, Fondren at W. Airport
 
Ace Cash Express, $1.00 Store
 
62,000
   
0
 
62,000
Glenbrook Square, Telephone Road
 
Kroger +, Blockbuster
 
76,000
   
0
 
76,000
Griggs Road, Griggs at Cullen
 
Family Dollar, Modern City, Citi Trends, Wyatt’s Cafeteria
 
81,000
   
0
 
81,000
Harrisburg Plaza, Harrisburg at Wayside
 
Fallas Paredes
 
95,000
   
0
 
95,000
Heights Plaza, 20th St. at Yale
 
Kroger +, Walgreen’s
 
72,000
   
0
 
72,000
Humblewood Shopping Plaza, Eastex Fwy. at F.M. 1960
 
Kroger +,Conn’s, Walgreen’s
 
180,000
   
99,000
 
279,000
I-45/Telephone Rd. Center, I-45 at Maxwell Street
 
Seller Bros. +, Dollar Tree, Best Price, FAMSA
 
162,000
   
0
 
162,000
Jacinto City, Market at Baca
 
Seller Bros. +, CVS/pharmacy
 
24,000
*
 
24,000
 
48,000
Landmark, Gessner at Harwin
 
Family Dollar
 
56,000
   
0
 
56,000
Lawndale, Lawndale at 75th St.
 
Fiesta +, Family Dollar
 
53,000
   
0
 
53,000
Little York Plaza, Little York at E. Hardy
 
Seller Bros. +, Dollar General, American Way Thrift Stores
 
118,000
   
0
 
118,000
Lyons Avenue, Lyons at Shotwell
 
Fiesta +, Fallas Paredes
 
68,000
   
0
 
68,000
Market at Westchase, Westheimer at Wilcrest
 
Whole Foods Market +
 
87,000
   
0
 
87,000
Miracle Corners, S. Shaver at Southmore
 
Fallas Paredes, Family Thrift, Dollar General
 
86,000
   
0
 
86,000
Northbrook, Northwest Fwy. at W. 34th
 
Randall’s +, Office Depot, Citi Trends, Anna’s Linens, Dollar Tree
 
175,000
   
0
 
175,000
North Main Square, Pecore at N. Main
 
O’Reilly Autoparts
 
18,000
   
0
 
18,000
North Oaks, F.M. 1960 at Veterans Memorial
 
Target (O.B.O.), T.J. Maxx, Old Navy, Ross Dress for Less, Big Lots
 
322,000
   
100,000
 
422,000
North Triangle, I-45 at F.M. 1960
 
Steak & Ale, CiCi’s Pizza, James Coney Island
 
16,000
   
0
 
16,000
Northway, Northwest Fwy. at 34th
 
Conn’s, Academy, Office Max
 
209,000
   
0
 
209,000
Northwest Crossing, N.W. Fwy. at Hollister (75%)
 
Target (O.B.O.), Marshall’s, Babies “R” Us
 
137,000
*
 
162,000
 
299,000
Oak Forest, W. 43rd at Oak Forest
 
Kroger +, Palais Royal, Dollar Tree
 
164,000
   
0
 
164,000
Orchard Green, Gulfton at Renwick
 
Seller Bros. +, Family Dollar
 
74,000
   
0
 
74,000
Randall’s/Cypress Station, F.M. 1960 at I-45
 
David’s Bridal
 
141,000
   
0
 
141,000
Randall’s/Kings Crossing, Kingwood Dr. at Lake Houston Pkwy.
 
Randall’s +, CVS/pharmacy
 
128,000
   
0
 
128,000
Randall’s/Norchester, Grant at Jones
 
Randall’s +
 
108,000
   
0
 
108,000
Richmond Square, Richmond Ave. at W. Loop 610
 
Best Buy (O.B.O.), Cost Plus
 
33,000
   
58,000
 
91,000
River Oaks, East, W. Gray at Woodhead
 
Kroger +
 
71,000
   
0
 
71,000
River Oaks, West, W. Gray at S. Shepherd
 
Talbot’s, JoS. A. Bank, Ann Taylor, Gap
 
235,000
   
0
 
235,000
Sheldon Forest, North, I-10 at Sheldon
 
Family Dollar
 
22,000
   
0
 
22,000
Sheldon Forest, South, I-10 at Sheldon
 
Gerland’s +, Burke’s Outlet
 
38,000
*
 
38,000
 
76,000
Shops at Three Corners, S. Main at Old Spanish Trail (70%)
 
Fiesta +, Office Depot, Big Lots, PetsMart, Ross Dress for Less, Anna’s Linens
 
176,000
*
 
76,000
 
252,000
Southgate, W. Fuqua at Hiram Clark
 
Food-A-Rama +, Palais Royal, CVS/pharmacy
 
126,000
   
0
 
126,000
Spring Plaza, Hammerly at Campbell
 
Seller Bros. +, Family Dollar
 
56,000
   
0
 
56,000
Steeplechase, Jones Rd. at F.M. 1960
 
Target (O.B.O.), Palais Royal, 99 Cents Only
 
193,000
   
100,000
 
293,000
Stella Link, Stella Link at S. Braeswood
 
Seller Bros.+, Spec’s Liquor Warehouse, Burke’s Outlet
 
67,000
   
0
 
67,000
Studemont, Studewood at E. 14th St
 
Fiesta +
 
28,000
   
0
 
28,000
Ten Blalock Square, I-10 at Blalock
 
Fiesta +
 
97,000
   
0
 
97,000
10/Federal, I-10 at Federal
 
Citi Trends, Palais Royal
 
132,000
   
0
 
132,000
The Village Arcade, University at Kirby
 
Gap, Talbot’s, Baby Gap, Old Navy
 
191,000
   
0
 
191,000
West Junction, Hwy. 6 at Keith Harrow Dr.
 
99 Cents Only
 
67,000
   
0
 
67,000
Westbury Triangle, Chimney Rock at W. Bellfort
 
99 Cents Only, CVS/pharmacy
 
67,000
   
0
 
67,000


Page 17




       
Gross Leasable Area
       
WRI
   
Others
   
Center and Location
 
Anchors
 
Owned
   
(O.B.O.)
 
Total
                   
Houston and Harris County, (Cont’d)
                 
                   
Westchase, Westheimer at Wilcrest
 
Ross Dress for Less, Randall’s +, Golfsmith, Palais Royal, Target (O.B.O.), Old Navy
 
236,000
   
100,000
 
336,000
Westhill Village, Westheimer at Hillcroft
 
Ross Dress for Less, Office Depot, 99 Cents Only, Anna’s Linens
 
131,000
   
0
 
131,000
                   
Texas (Excluding Houston & Harris Co.), Total
     
7,959,000
   
2,694,000
 
10,653,000
Bell Plaza, 45th Ave. at Bell St., Amarillo
 
United Supermarket +, Dollar Tree
 
129,000
   
0
 
129,000
Coronado, S.W. 34th St. at Wimberly Dr., Amarillo
 
Blockbuster
 
49,000
   
0
 
49,000
Grand Plaza, Interstate Hwy 40 at Grand Ave., Amarillo
 
United Supermarket +, Big Lots, Beall’s
 
157,000
   
0
 
157,000
Puckett Plaza, Bell Road, Amarillo
 
Huneke Furniture, CVS/Pharmacy
 
133,000
   
0
 
133,000
Spanish Crossroads, Bell St. at Atkinsen St., Amarillo
 
Big Lots, Dollar General
 
74,000
   
0
 
74,000
Wolflin Village, Wolflin Ave. at Georgia St., Amarillo
 
Hastings, Talbot’s, Office Depot
 
193,000
   
0
 
193,000
Brodie Oaks, South Lamar Blvd. at Loop 360, Austin
 
Mervyn’s (O.B.O.), Toys “R” Us (O.B.O.), Sun Harvest Foods +, Neiman Marcus Last Call
 
245,000
   
109,000
 
354,000
Southridge Plaza, William Cannon Dr. at S. 1st St., Austin
 
H. E. B. +, Dollar Tree
 
143,000
   
0
 
143,000
Calder, Calder at 24th St., Beaumont
 
Market Basket +
 
34,000
   
0
 
34,000
North Park Plaza, Eastex Fwy. at Dowlen, Beaumont
 
Target (O.B.O.), Anna’s Linens, Spec’s Liquor Warehouse, David’s Bridal, Toys “R” Us (O.B.O.)
 
70,000
*
 
168,000
 
238,000
Phelan West, Phelan at 23rd St., Beaumont (67%)
 
Kroger + (O.B.O.)
 
16,000
*
 
67,000
 
83,000
Phelan, Phelan at 23rd St, Beaumont
 
None
 
12,000
   
0
 
12,000
Southgate, Calder Ave. at 6th St., Beaumont
 
Dollar General
 
34,000
   
0
 
34,000
Westmont, Dowlen at Phelan, Beaumont
 
CVS/pharmacy, Talbot’s, Ashley Furniture
 
98,000
   
0
 
98,000
Lone Star Pavilions, Texas. at Lincoln Ave., College Station
 
Best Buy, Office Depot, Barnes & Noble
 
107,000
   
0
 
107,000
Montgomery Plaza, Loop 336 West at I-45, Conroe
 
Academy, Conn’s, Goody’s, 99 Cents Only, Spec’s Liquor Warehouse, Petco
 
317,000
   
0
 
317,000
River Pointe, I-45 at Loop 336, Conroe
 
Kroger + (O.B.O)
 
46,000
   
145,000
 
191,000
Moore Plaza, S. Padre Island Dr. at Staples, Corpus Christi
 
Office Depot, Marshall’s, H. E. B. + (O.B.O),
Target (O.B.O.), Circuit City, Old Navy, Linen’s N Things
 
373,000
   
162,000
 
535,000
Portairs, Ayers St. at Horne Rd., Corpus Christi
 
CVS /pharmacy, Family Dollar, Beall’s
 
118,000
   
0
 
118,000
Shoppes at Deer Creek, FM 731 at FM 1137, Crowley
 
Albertsons + (O.B.O.)
 
20,000
   
52,000
 
72,000
Dickinson, I-45 at F.M. 517, Dickinson (72%)
 
Kroger +
 
55,000
*
 
21,000
 
76,000
Golden Beach Market Place, Golden Triangle Blvd. at N. Beach St., Ft. Worth
 
Albertsons + (O.B.O.)
 
31,000
   
52,000
 
83,000
Overton Park Plaza, SW Loop 820/Interstate 20 at South Hulen St., Ft. Worth
 
Oshman’s Sporting Goods, Circuit City, PetsMart, Office Depot, T.J. Maxx, Albertsons +, Home Depot (O.B.O.), Anna’s Linens, Ashley Furniture
 
353,000
   
110,000
 
463,000
Southcliff, I-20 at Grandbury Rd., Ft. Worth
 
Jo-Ann’s Fabrics
 
116,000
   
0
 
116,000
Broadway, Broadway at 59th St., Galveston
 
Big Lots, Family Dollar
 
76,000
   
0
 
76,000
Galveston Place, Central City Blvd. at 61st St., Galveston
 
Randall’s +, Office Depot, Hastings, Palais Royal
 
210,000
   
0
 
210,000
Food King Place, 25th St. at Avenue P, Galveston
 
Arlan’s +
 
28,000
   
0
 
28,000
Killeen Marketplace, 3200 E. Central Texas Expressway, Killeen
 
Best Buy, Ross Dress for Less, Staples, Home Depot (O.B.O.)
 
115,000
   
136,000
 
251,000
Cedar Bayou, Bayou Rd., La Marque
 
Dollar General
 
15,000
   
31,000
 
46,000
North Creek Plaza, Del Mar Blvd. and Hwy. I-35, Laredo
 
Old Navy, Bed Bath & Beyond, Best Buy, Target (O.B.O.), H.E.B. + (O.B.O.), Marshall’s
 
245,000
   
206,000
 
451,000
Plantation Centre, Del Mar Blvd. and McPherson Rd., Laredo
 
H.E.B. +, Blockbuster
 
135,000
   
0
 
135,000
League City Plaza, I-45 at F.M. 518, League City
 
Kroger +. Spec’s Liquor Warehouse
 
112,000
   
0
 
112,000
Caprock Center, 50th at Boston Ave., Lubbock
 
Dunlap’s, Beall’s, Dollar Tree, Ross Dress for Less
 
262,000
   
0
 
262,000
Central Plaza, Loop 289 at Slide Rd., Lubbock
 
Bed Bath & Beyond, Old Navy, Staples
 
152,000
   
0
 
152,000
Northtown Plaza, 1st St. and University Plaza, Lubbock
 
United Supermarket +, Family Dollar
 
74,000
   
0
 
74,000
Town & Country, 4th St. at University, Lubbock
 
Hasting’s Records & Books
 
50,000
   
0
 
50,000
Angelina Village, Hwy. 59 at Loop 287, Lufkin
 
Randall’s +, Kmart, Clark’s, Ashley Furniture, Office Max
 
257,000
   
0
 
257,000
Independence Plaza, Town East Blvd., Mesquite
 
Sack & Save +, Babies “R” Us
 
179,000
   
0
 
179,000
H.E.B. Center, S. 10th St. and Houston St., McAllen
 
H.E.B. +
 
52,000
*
 
52,000
 
104,000
Las Tiendas Plaza, Expressway 83 and McColl Rd., McAllen
 
Target (O.B.O.), Mervyn’s (O.B.O.), Academy, Conn’s, Ross Dress for Less, Marshall’s, Office Depot
 
144,000
*
 
386,000
 
530,000
Northcross, N. 10th St. and Nolana Loop, McAllen
 
Barnes & Noble, Blockbuster
 
38,000
*
 
38,000
 
76,000
Old Navy Building, 1815 10th Street, McAllen
 
Old Navy
 
8,000
*
 
7,000
 
15,000
McKinney Centre, US Hwy 380 at U.S.Hwy 75, McKinney
 
Albertsons + (O.B.O.), Target (O.B.O.)
 
7,000
   
154,000
 
161,000
Custer Park, SWC Custer Road at Parker Road, Plano
 
Kroger + (O.B.O), Dollar General
 
116,000
   
65,000
 
181,000
Pitman Corners, Custer Road at West 15th, Plano
 
Albertsons +
 
190,000
   
0
 
190,000
Gillham Circle, Gillham Circle at Thomas, Port Arthur
 
Market Basket +, Family Dollar
 
33,000
   
0
 
33,000
Village, 9th Ave. at 25th St., Port Arthur
 
Vacant
 
52,000
   
0
 
52,000
Porterwood, Eastex Fwy. at F.M. 1314, Porter
 
Big Lots, 99 Cents Only, CVS/Pharmacy
 
99,000
   
63,000
 
162,000
Starr Plaza, U.S. Hwy 83 at Bridge St., Rio Grande City (45%)
 
H.E.B.+, Beall’s
 
29,000
*
 
35,000
 
64,000


Page 18



       
Gross Leasable Area
       
WRI
   
Others
   
Center and Location
 
Anchors
 
Owned
   
(O.B.O.)
 
Total
                   
Texas (Excluding Houston & Harris Co.), (Cont’d)
                 
                   
Rockwall, I-30 at Market Center Street, Rockwall
 
Office Max, Petco, Pier 1, Ross Dress for Less, Old Navy, Linens ‘N Things, Michael’s
 
209,000
   
0
 
209,000
Plaza, Ave. H at Eighth Street, Rosenberg
 
Burke’s Outlet, 99 Cents Only
 
41,000
*
 
41,000
 
82,000
Rose-Rich, U.S. Hwy. 90A at Lane Dr., Rosenberg
 
Family Dollar, Palais Royal
 
104,000
   
0
 
104,000
Round Rock Towne Ctr., Gattis School Rd. at A. W. Grimes Blvd., Round Rock
 
Randall’s + (O.B.O.)
 
25,000
   
59,000
 
84,000
Lake Pointe Market Center, Dalrock Rd. at Lakeview Pkwy., Rowlett
 
Tom Thumb + (O.B.O.), Walgreen’s (O.B.O.)
 
40,000
   
81,000
 
121,000
Boswell Towne Center, Highway 287 at Bailey Boswell Rd., Saginaw
 
Albertsons + (O.B.O)
 
26,000
   
62,000
 
88,000
Fiesta Trails, I-10 at DeZavala Rd., San Antonio
 
H. E. B. + (O.B.O), Target (O.B.O.), Barnes & Noble, Cost Plus, Regal Cinema, Marshall’s, Office Max, SteinMart, Petco, Anna’s Linens
 
312,000
   
176,000
 
488,000
Oak Park Village, Nacogdoches at New Braunfels, San Antonio
 
H. E. B. +
 
65,000
   
0
 
65,000
Parliament Square, W. Ave. at Blanco, San Antonio
 
Spectrum
 
65,000
   
55,000
 
120,000
Thousand Oaks, Thousand Oaks Dr. at Jones Maltsberger Rd., San Antonio
 
H. E. B. +, Beall’s, Tuesday Morning
 
163,000
   
0
 
163,000
Valley View, West Ave. at Blanco Rd., San Antonio
 
Marshall’s, Blockbuster, Dollar Tree
 
90,000
   
0
 
90,000
First Colony Commons, Hwy. 59 at Williams Trace Blvd., Sugar Land
 
Babies “R” Us, Conn’s, Michael’s, Office Depot, Home Depot
 
410,000
   
0
 
410,000
Market at Town Center, Town Center Blvd., Sugar Land
 
Old Navy, Barnes & Noble, Marshall’s, Linens ‘N Things, DSW Shoe Warehouse, Ross Dress for Less, Lane Furniture
 
345,000
   
0
 
345,000
New Boston Road, New Boston at Summerhill, Texarkana
 
Rehkopf’s Grocery +, CVS/pharmacy, Tuesday Morning, Salvation Army
 
97,000
   
0
 
97,000
Island Market Place, 6th St. at 9th Ave., Texas City
 
Food King +
 
27,000
   
0
 
27,000
Palmer Plaza, F.M. 1764 at 34th St., Texas City
 
Randall’s +, Big Lots (O.B.O.)
 
97,000
   
100,000
 
197,000
Broadway, S. Broadway at W. 9th St., Tyler
 
SteinMart
 
60,000
   
0
 
60,000
Crossroads, I-10 at N. Main, Vidor
 
Market Basket +, Beall’s, Baskin’s, Burke’s Outlet
 
116,000
   
0
 
116,000
Watauga Towne Center, Hwy. 377 at Bursey Rd., Watauga
 
Albertsons + (O.B.O.)
 
66,000
   
61,000
 
127,000
                   
Florida, Total 
     
3,921,000
   
688,000
 
4,609,000
Boca Lyons, Glades Rd. at Lyons Rd., Boca Raton
 
Ross Dress for Less, Ethan Allen
 
117,000
   
0
 
117,000
Sunset 19, US Hwy. 19 at Sunset Pointe Rd., Clearwater
 
Publix +, Bed Bath & Beyond, Staples, Comp USA, Barnes & Noble, Sports Authority, Old Navy
 
273,000
   
0
 
273,000
Embassy Lakes, Sheraton St. at Hiatus Rd., Cooper City
 
Winn Dixie +, Walgreen’s, Tuesday Morning
 
132,000
   
48,000
 
180,000
Hollywood Hills Plaza, Hollywood Blvd. at North Park Rd., Hollywood
 
Publix +, Target, CVS/pharmacy
 
365,000
   
0
 
365,000
Argyle Village, Blanding at Argyle Forest Blvd., Jacksonville
 
Bed Bath & Beyond, Publix +, T.J. Maxx, Babies “R” Us, Jo-Ann’s Fabrics
 
305,000
   
0
 
305,000
T.J. Maxx Plaza, 117th Avenue and Sunset Blvd., Kendall
 
T.J. Maxx, Winn Dixie +
 
162,000
   
0
 
162,000
Largo Mall, Ulmerton Rd. at Seminole Ave., Largo
 
Beall’s Department Stores, Marshall’s, PetsMart, Bed Bath & Beyond, Staples, Michael’s, Target (O.B.O.), Albertsons + (O.B.O.)
 
378,000
   
198,000
 
576,000
Lake Washington Crossing, Wickham Rd. at Lake Washington Rd., Melbourne (25%)
 
Publix +, Beall’s Outlet Stores
 
30,000
*
 
89,000
 
119,000
Lake Washington Square, Wickham Rd. at Lake Washington Rd., Melbourne
 
Albertsons +
 
112,000
   
0
 
112,000
Tamiami Trail Shops, S.W. 8th St. at S.W. 137th Ave., Miami
 
Publix +, CVS/pharmacy
 
111,000
   
0
 
111,000
Northridge, E. Commercial Blvd. at Dixie Hwy., Oakland Park
 
Publix +, Petco, Ross Dress for Less
 
234,000
   
0
 
234,000
Colonial Plaza, E. Colonial Dr. at Primrose Dr., Orlando
 
Staples, Circuit City, Ross Dress for Less, Linens ‘N Things, Babies “R” Us, Marshall’s, Old Navy, SteinMart, Barnes & Noble, Petco
 
488,000
   
0
 
488,000
Market at Southside, Michigan Ave. at Delaney Ave., Orlando
 
Ross Dress for Less, Beall’s Outlet Stores, Dollar Tree, Albertsons + (O.B.O.)
 
97,000
   
65,000
 
162,000
Town Center at Timber Springs, Timber Springs Blvd. at Avalon Blvd., Orlando
 
Wal-Mart Neighborhood Market + (O.B.O.)
 
0
#
 
0
 
0
Westland Terrace Plaza, SR 50 at Apopka Vineland Rd., Orlando
 
T.J. Maxx, Petco, Shoe Carnival, Super Target + (O.B.O.)
 
68,000
   
183,000
 
251,000
University Palms, Alafaya Trail at McCullough Rd., Oviedo
 
Publix +, Blockbuster
 
99,000
   
0
 
99,000
Flamingo Pines, Pines Blvd. at Flamingo Rd., Pembroke Pines
 
Publix +, U.S. Post Office, Keiser College
 
257,000
   
105,000
 
362,000
Pembroke Commons, University at Pines Blvd., Pembroke Pines
 
Publix +, Marshall’s, Office Depot, LA Fitness
 
316,000
   
0
 
316,000
Publix at Laguna Isles, Sheridan St. at SW 196th Ave., Pembroke Pines
 
Publix +
 
69,000
   
0
 
69,000
Vizcaya Square, Nob Hill Rd. at Cleary Blvd., Plantation
 
Winn Dixie +
 
108,000
   
0
 
108,000
Venice Pines Plaza, Center Rd. at Jacaranda Blvd., Venice
 
Kash N Karry +
 
97,000
   
0
 
97,000
Winter Park Corners, Aloma Ave. at Lakemont Ave., Winter Park
 
Whole Foods Market +, Outback Steakhouse
 
103,000
   
0
 
103,000
                   
California, Total
     
3,307,000
   
521,000
 
3,828,000
Centerwood Plaza, Lakewood Blvd. at Alondra Dr., Bellflower
 
Bestway Supermarket +
 
71,000
   
0
 
71,000
Southampton Center, IH-780 at Southampton Rd., Benecia
 
Raley’s +
 
162,000
   
0
 
162,000
580 Marketplace, E. Castro Valley at Hwy. I-580, Castro Valley
 
P. W. Supermarkets +
 
100,000
   
0
 
100,000


Page 19



       
Gross Leasable Area
       
WRI
   
Others
   
Center and Location
 
Anchors
 
Owned
   
(O.B.O.)
 
Total
                   
California, (Cont’d.)
                 
                   
Chino Hills Marketplace, Chino Hills Pkwy. at Pipeline Ave., Chino Hills
 
Rite Aid, Von’s +, 24 Hour Fitness, Dollar Tree
 
320,000
   
0
 
320,000
Buena Vista Marketplace, Huntington Dr. at Buena Vista St., Duarte
 
Ralphs +
 
91,000
   
0
 
91,000
El Camino Promenade, El Camino Real at Via Molena, Encinitas
 
T.J. Maxx, AMC Theater, Beverages & More
 
111,000
   
0
 
111,000
Fremont Gateway Plaza, Paseo Padre Pkwy. at Walnut Ave., Fremont
 
Raley’s +, NAZ Cinema, 24 Hour Fitness
 
195,000
   
0
 
195,000
Hallmark Town Center, W. Cleveland Ave. at Stephanie Ln., Madera
 
Food 4 Less + , Bally’s
 
85,000
   
0
 
85,000
Menifee Town Center, Antelope Rd. at Newport Rd., Menifee
 
Ralphs +, Target (O.B.O.), Ross Dress for Less
 
124,000
   
124,000
 
248,000
Marshall’s Plaza, McHenry at Sylvan Ave., Modesto
 
Marshall’s, Dress Barn
 
79,000
   
0
 
79,000
Prospectors Plaza, Missouri Flat Rd. at US Hwy. 50, Placerville
 
Albertsons +, Kmart, Long’s
 
228,000
   
0
 
228,000
Shasta Crossroads, Churn Creek Rd. at Dana Dr., Redding
 
Food Maxx +, Target (O.B.O.), Winco (O.B.O.)
 
121,000
   
200,000
 
321,000
Ralphs Redondo, Hawthorne Blvd. at 182nd St., Redondo Beach
 
Ralphs +
 
67,000
   
0
 
67,000
Arcade Square, Watt Ave. at Whitney Ave., Sacramento
 
Grocery Outlet +, Hollywood Video
 
76,000
   
0
 
76,000
Discovery Plaza, W. El Camino Ave. at Truxel Rd., Sacramento
 
Bel Air Market +
 
93,000
   
0
 
93,000
Summerhill Plaza, Antelope Rd. at Lichen Dr., Sacramento
 
Raley’s +
 
134,000
   
0
 
134,000
Silver Creek Plaza, E. Capital Expressway at Silver Creek Blvd., San Jose
 
Safeway +, Walgreen’s, Orchard Supply (O.B.O.)
 
131,000
   
65,000
 
196,000
Greenhouse Marketplace, Lewelling Blvd. at Washington Ave., San Leandro
 
Safeway + (O.B.O.), Longs Drug Stores (O.B.O.), Big Lots, 99 Cents Only, Factory 2 U
 
151,000
   
87,000
 
238,000
Rancho San Marcos Village, San Marcos Blvd. at Rancho Santa Fe Rd., San Marcos
 
Von’s + , 24 Hour Fitness
 
121,000
   
0
 
121,000
San Marcos Plaza, San Marcos Blvd. at Rancho Santa Fe Rd., San Marcos
 
Albertsons + (O.B.O.)
 
36,000
   
45,000
 
81,000
Stony Point Plaza, Stony Point Rd. at Hwy. 12, Santa Rosa
 
Food Maxx +, Wal-Mart
 
199,000
   
0
 
199,000
Sunset Center, Sunset Ave. at State Hwy. 12, Suisun City
 
Albertsons +, Rite Aid
 
85,000
   
0
 
85,000
Creekside Center, Alamo Dr. at Nut Creek Rd., Vacaville
 
Raley’s +
 
116,000
   
0
 
116,000
Westminster Center, Westminster Blvd. at Golden West St., Westminster
 
Albertsons +, Home Depot, Edward’s Cinema, Rite Aid, Petco
 
411,000
   
0
 
411,000
                   
Louisiana, Total 
     
1,856,000
   
1,278,000
 
3,134,000
Siegen Plaza, Siegen Lane at Honore Lane, Baton Rouge
 
Super Target + (O.B.O.), Ross Dress for Less, Conn’s, Petco
 
156,000
   
194,000
 
350,000
Park Terrace, U.S. Hwy. 171 at Parish, DeRidder
 
Stage, JC Penney, Family Dollar
 
137,000
   
0
 
137,000
Town & Country Plaza, U.S. Hwy. 190 West, Hammond
 
Winn Dixie +, Office Depot, CVS/pharmacy, Goody’s, Books A Million, Rent Way
 
215,000
   
0
 
215,000
Manhattan Place, Manhattan Blvd. at Gretna Blvd., Harvey
 
Target (O.B.O.), Ross Dress for Less, Stage
 
133,000
   
125,000
 
258,000
Ambassador Plaza, Ambassador Caffery at W. Congress, Lafayette
 
Albertsons + (O.B.O.), Blockbuster
 
29,000
   
73,000
 
102,000
River Marketplace, Ambassador Caffery at Kaliste Saloom, Lafayette (20%)
 
Ross Dress for Less, Stage, Cost Plus, Super Target + (O.B.O.), Books A Million
 
34,000
*
 
307,000
 
341,000
Westwood Village, W. Congress at Bertrand, Lafayette
 
Stage, Graham Central Station, Blockbuster
 
141,000
   
0
 
141,000
Conn’s Building, Ryan at 17th St., Lake Charles
 
Planet Pets
 
23,000
   
0
 
23,000
14/Park Plaza, Hwy. 14 at General Doolittle, Lake Charles
 
Kroger + Stage, Conn’s
 
207,000
   
0
 
207,000
Kmart Plaza, Ryan St., Lake Charles
 
Albertsons +, Kmart, Stage
 
105,000
*
 
105,000
 
210,000
Prien Lake Plaza, Prien Lake Rd. at Nelson Rd., Lake Charles
 
Target (O.B.O.), Marshall’s, Ross Dress for Less, Bed Bath & Beyond
 
129,000
   
125,000
 
254,000
Southgate, Ryan at Eddy, Lake Charles
 
Market Basket +, Office Depot, SteinMart, Books A Million
 
171,000
   
0
 
171,000
Orleans Station, Paris, Robert E. Lee at Chatham, New Orleans
 
Exxon
 
5,000
   
0
 
5,000
Danville Plaza, Louisville at 19th, Monroe
 
County Market +, Citi Trends, Surplus Warehouse
 
144,000
   
0
 
144,000
Southgate, 70th at Mansfield, Shreveport
 
Rite Aid (O.B.O.), JMart, Family Dollar
 
73,000
   
16,000
 
89,000
University Place, 70th St. at Youree Dr., Shreveport (20%)
 
Super Target + (O.B.O.), Best Buy, T.J. Maxx, CVS/pharmacy, Bed Bath & Beyond
 
41,000
*
 
333,000
 
374,000
Westwood, Jewella at Greenwood, Shreveport
 
Super 1 Grocery +, Citi Trends
 
113,000
   
0
 
113,000
                   
Nevada, Total 
     
2,413,000
   
747,000
 
3,160,000
Eastern Horizon, Eastern Ave. at Horizon Ridge Pkwy., Henderson
 
Kmart + (O.B.O.)
 
67,000
   
144,000
 
211,000
Best in the West Shopping Center, Rainbow at Lake Mead Rd., Las Vegas
 
Best Buy, Borders, Bed Bath & Beyond, Babies ‘R’ Us, DSW Shoes, Office Depot, Old Navy, PetsMart, Jo-Ann Stores
 
437,000
   
0
 
437,000
Francisco Centre, E. Desert Inn Rd. at S. Eastern Ave., Las Vegas
 
Ross Dress for Less (O.B.O.), Sav-On Drug
 
116,000
   
32,000
 
148,000
Mission Center, Flamingo Rd. at Maryland Pkwy, Las Vegas
 
Sav-On Drug (O.B.O.), Albertsons + (O.B.O.), Toys “R” Us, T.J. Maxx
 
152,000
   
55,000
 
207,000
Paradise Marketplace, Flamingo Rd. at Sandhill, Las Vegas
 
Smith’s Food +, Dollar Tree
 
149,000
   
0
 
149,000
Rainbow Plaza, Rainbow Blvd. at Charleston Blvd., Las Vegas
 
Albertsons +, JC Penney, Ultimate Electronics, Home Depot, 24 Hour Fitness
 
410,000
   
0
 
410,000
Rancho Towne & Country, Rancho Dr. at Charleston Blvd., Las Vegas
 
Smith’s Food +
 
87,000
   
0
 
87,000
Tropicana Beltway S. C., Tropicana Beltway at Fort Apache Rd., Las Vegas
 
Lowe’s (O.B.O.), Wal-Mart Supercenter + (O.B.O.), PetsMart, Office Depot, Ross Dress for Less, 99 Cent Only, Sports Authority
 
122,000
*
 
516,000
 
638,000
Tropicana Marketplace, Tropicana at Jones Blvd., Las Vegas
 
Smith’s Food +, Family Dollar
 
143,000
   
0
 
143,000

Page 20



       
Gross Leasable Area
       
WRI
   
Others
   
Center and Location
 
Anchors
 
Owned
   
(O.B.O.)
 
Total
                   
Nevada, (Cont’d)
                 
                   
Westland Fair, Charleston Blvd. At Decatur Blvd., Las Vegas
 
Wal-Mart Supercenter +, Lowe’s, PetsMart, Office Depot, Michaels
 
566,000
   
0
 
566,000
College Park, E. Lake Mead Blvd. at Civic Ctr. Dr., North Las Vegas
 
Albertsons +, Sav-On Drug
 
164,000
   
0
 
164,000
                   
North Carolina, Total 
     
2,323,000
   
132,000
 
2,455,000
Capital Square, Capital Blvd. at Huntleigh Dr., Cary
 
Food Lion +
 
157,000
   
0
 
157,000
Harrison Pointe Center, Harrison Ave. at Maynard Rd., Cary
 
Harris Teeter +, Staples
 
124,000
   
0
 
124,000
High House Crossing, NC Hwy 55 at Green Level W. Rd., Cary
 
Harris Teeter +
 
90,000
   
0
 
90,000
Northwoods Market, Maynard Rd. at Harrison Ave., Cary
 
Food Lion +
 
78,000
   
0
 
78,000
Parkway Pointe, Cory Parkway at S. R. 1011, Cary
 
Food Lion +, Eckerd’s
 
80,000
   
0
 
80,000
Johnston Road Plaza, Johnston Rd. at McMullen Creek Pkwy., Charlotte
 
Food Lion+
 
80,000
   
0
 
80,000
Steele Creek Crossing, York Rd. at Steele Creek Rd., Charlotte
 
BI-LO +, Eckerd’s
 
77,000
   
0
 
77,000
Bull City Market, Broad St. at West Main St., Durham
 
Whole Foods Market +
 
43,000
   
0
 
43,000
Durham Festival, Hillsborough Rd. at LaSalle St., Durham
 
Kroger +
 
134,000
   
0
 
134,000
Mineral Springs Village, Mineral Springs Rd. at Wake Forest Rd., Durham
 
Food Lion +, Eckerd’s
 
58,000
   
0
 
58,000
Ravenstone Commons, Hwy 98 at Sherron Rd., Durham
 
Food Lion +, Blockbuster
 
60,000
   
0
 
60,000
Waterford Village, US Hwy 17 & US Hwy 74/76, Leland (75%)
 
Harris Teeter +
 
0
# *
 
0
 
0
Pinecrest Plaza, Hwy. 15-501 at Morganton Rd., Pinehurst
 
Food Lion +, Michael’s, Goody’s, Belk’s
 
250,000
   
0
 
250,000
Avent Ferry, Avent Ferry Rd. at Gorman St., Raleigh
 
Food Lion +
 
117,000
   
0
 
117,000
Falls Pointe, Neuce Rd. at Durant Rd., Raleigh
 
Harris Teeter +, Kohl’s (O.B.O.)
 
103,000
   
86,000
 
189,000
Leesville Town Centre, Leesville Rd. at Leesville Church Rd., Raleigh
 
Harris Teeter +
 
114,000
   
0
 
114,000
Lynnwood Collection, Creedmoor Rd at Lynn Road, Raleigh
 
Kroger +
 
86,000
   
0
 
86,000
Six Forks Station, Six Forks Rd. at Strickland Rd., Raleigh
 
Kmart, Home Depot, Food Lion +, Bed Bath & Beyond
 
468,000
   
0
 
468,000
Stonehenge Market, Creedmoor Rd. at Bridgeport Dr., Raleigh
 
Harris Teeter +, SteinMart, Eckerd’s
 
188,000
   
0
 
188,000
Heritage Station, Forestville Rd. and Rogers Rd., Wake Forest (25%)
 
Harris Teeter +
 
16,000
*
 
46,000
 
62,000
                   
Arizona, Total 
     
1,394,000
   
766,000
 
2,160,000
Palmilla Center, Dysart Rd. at McDowell Rd., Avondale
 
Office Max, PetsMart, Dollar Tree, Fry’s Supermarket + (O.B.O.)
 
104,000
   
65,000
 
169,000
University Plaza, Plaza Way at Milton Rd., Flagstaff
 
PetsMart, Safeway +, Ross Dress for Less
 
162,000
   
0
 
162,000
Val Vista Towne Center, Warner at Val Vista Rd., Gilbert
 
Target (O.B.O.), Staples, Ross Dress for Less, Petco
 
93,000
   
123,000
 
216,000
Arrowhead Festival, 75th Ave. at W. Bell Rd., Glendale
 
Borders (O.B.O.), Sports Authority (O.B.O.),
Toys “R” Us (O.B.O.), Bed Bath & Beyond (O.B.O.)
 
30,000
   
147,000
 
177,000
Fry’s Ellsworth Plaza, Broadway Rd. at Ellsworth Rd., Mesa
 
Fry’s Supermarket + (O.B.O.)
 
9,000
   
65,000
 
74,000
Monte Vista Village Center, Baseline Rd. at Ellsworth Rd., Mesa
 
Safeway + (O.B.O.)
 
40,000
   
58,000
 
98,000
Red Mountain Gateway, Power Rd. at McKellips Rd., Mesa
 
Target (O.B.O.), Bed Bath & Beyond, Famous Footwear
 
70,000
   
136,000
 
206,000
Camelback Village Square, Camelback at 7th Avenue, Phoenix
 
Fry’s Supermarket +, Target (O.B.O.), Office Max
 
135,000
   
100,000
 
235,000
Laveen Village Market, Baseline Rd. at 51st St., Phoenix
 
Fry’s Supermarket + (O.B.O.)
 
34,000
   
72,000
 
106,000
Rancho Encanto, 35th Avenue at Greenway Rd., Phoenix
 
Berean Christian Bookstore, Blockbuster
 
71,000
   
0
 
71,000
Squaw Peak Plaza, 16th Street at Glendale Ave., Phoenix
 
Basha’s +
 
61,000
   
0
 
61,000
Fountain Plaza, 77th St. at McDowell, Scottsdale
 
Fry’s Supermarket +, Dollar Tree
 
105,000
   
0
 
105,000
Basha Valley Plaza, S. McClintock at E. Southern, Tempe
 
Basha’s +
 
145,000
   
0
 
145,000
Broadway Marketplace, Broadway at Rural, Tempe
 
Office Max, Ace Hardware
 
83,000
   
0
 
83,000
Pueblo Anozira, McClintock Dr. at Guadalupe Rd., Tempe
 
Fry’s Food & Drug +, Petco, Dollar Tree
 
152,000
   
0
 
152,000
Desert Square Shopping Center, Golf Links at Kolb, Tucson
 
99 Cents Only
 
100,000
   
0
 
100,000
                   
New Mexico, Total 
     
1,182,000
   
397,000
 
1,579,000
Eastdale, Candelaria Rd. at Eubank Blvd., Albuquerque
 
Albertsons +, Family Dollar
 
118,000
   
0
 
118,000
North Towne Plaza, Academy Rd. at Wyoming Blvd., Albuquerque
 
Whole Foods Market +, Borders
 
103,000
   
0
 
103,000
Pavilions at San Mateo, I-40 at San Mateo, Albuquerque
 
Comp USA, Old Navy, Shoe Show, Circuit City, Linens ‘N Things
 
196,000
   
0
 
196,000
Plaza at Cottonwood, Coors Bypass Blvd. at Seven Bar Loop Rd., Albuquerque
 
Staples, PetsMart, Wal-Mart Supercenter +(O.B.O.), Home Depot (O.B.O.)
 
84,000
   
334,000
 
418,000
Valle del Sol, Isleta Blvd. at Rio Bravo, Albuquerque
 
Albertsons +, Walgreen’s
 
106,000
   
0
 
106,000
Wyoming Mall, Academy Rd. at Northeastern, Albuquerque
 
John Brooks Grocery +
 
326,000
   
0
 
326,000
DeVargas, N. Guadalupe at Paseo de Peralta, Santa Fe
 
Albertsons + (O.B.O.), Osco Drugs, Ross Dress for Less, Office Depot, Hastings, United Artists
 
249,000
   
63,000
 
312,000
                   
Colorado, Total 
     
924,000
   
1,388,000
 
2,312,000
Aurora City Place, E. Alameda at I225, Aurora
 
PetsMart, Sportsman Warehouse, Linens ‘N Things, Barnes & Noble, Comp USA, Ross Dress For Less, Super Target + (O.B.O.)
 
173,000
*
 
355,000
 
528,000
Bridges at Smoky Hill, Smoky Hill Rd. at S. Picadilly St., Aurora
 
Rite Aid (O.B.O.)
 
10,000
*
 
49,000
 
59,000
Academy Place, Academy Blvd. at Union Blvd., Colorado Springs
 
Safeway + (O.B.O.), Ross Dress For Less (O.B.O.), Target (O.B.O.)
 
84,000
   
177,000
 
261,000
Carefree, Academy Blvd. at N. Carefree Circle, Colorado Springs
 
Safeway +
 
127,000
   
0
 
127,000
Green Valley Ranch Towne Center, Tower Rd. at 48th Ave., Denver (37%)
 
King Sooper’s + (O.B.O.)
 
27,000
*
 
104,000
 
131,000
Lowry Town Center, 2nd Ave. at Lowry Ave., Denver
 
Albertsons + (O.B.O.)
 
39,000
*
 
92,000
 
131,000


Page 21



       
Gross Leasable Area
       
WRI
   
Others
   
Center and Location
 
Anchors
 
Owned
   
(O.B.O.)
 
Total
                   
Colorado, (Cont’d) 
                 
                   
Gold Creek Center, Hwy. 86 at Elizabeth St., Elizabeth
 
Safeway + (O.B.O.)
 
13,000
*
 
67,000
 
80,000
City Center Englewood, S. Santa Fe at Hampden Ave., Englewood
 
Wal-Mart (O.B.O.), Ross Dress for Less, Gart Sports, Office Depot, Bally Total Fitness
 
219,000
   
90,000
 
309,000
Glenwood Meadows, Midland Ave. and W. Meadows, Glenwood Springs (41%)
 
Target (O.B.O.), Pier 1, Gart Sports, Bed Bath & Beyond, Petco
 
0
# *
 
0
 
0
University Park, Highlands Ranch at University Blvd., Highlands Ranch (40%)
 
Whole Foods Market +
 
35,000
*
 
53,000
 
88,000
Crossing at Stonegate, Jordon Rd. at Lincoln Ave., Parker (38%)
 
King Sooper’s +
 
45,000
*
 
75,000
 
120,000
Thorncreek Crossing, Washington St. at 120th St., Thornton
 
Target (O.B.O.), Barnes & Noble, Office Max, Michael’s, Pier 1, Cost Plus, Linens ‘N Things
 
106,000
*
 
280,000
 
386,000
Westminster Plaza, North Federal Blvd. at 72nd Ave., Westminster
 
Safeway +
 
46,000
*
 
46,000
 
92,000
                   
Kansas, Total 
     
784,000
   
46,000
 
830,000
West State Plaza, State Ave. at 78th St., Kansas City
 
Big Lots, Westlake Hardware, Dollar General
 
94,000
   
0
 
94,000
Regency Park, 93rd St. at Metcalf Ave., Overland Park
 
Marshall’s, Borders, Old Navy, Michael’s
 
202,000
   
46,000
 
248,000
Westbrooke Village, Quivira Rd. at 75th St., Shawnee
 
Dillon’s +, DSW Shoe Warehouse, K & G Menstore
 
237,000
   
0
 
237,000
Shawnee Village, Shawnee Mission Pkwy. at Quivera Rd., Shawnee
 
Vacant
 
135,000
   
0
 
135,000
Kohl’s, Wanamaker Rd. at S.W. 17th St., Topeka
 
Barnes & Noble, Kohl’s Department Store
 
116,000
   
0
 
116,000
                   
Oklahoma, Total 
     
654,000
   
48,000
 
702,000
Bryant Square, Bryant Ave. at 2nd St., Edmond
 
Bed Bath & Beyond, SteinMart, Ross Dress for Less
 
282,000
   
0
 
282,000
Market Boulevard, E. Reno Ave. at N. Douglas Ave., Midwest City
 
None
 
36,000
   
0
 
36,000
Town & Country, Reno Ave at North Air Depot, Midwest City
 
Office Depot, Big Lots, Westlake Hardware
 
138,000
   
0
 
138,000
Windsor Hills Center, Meridian at Windsor Place, Oklahoma City
 
Big Lots, Crest Foods + (O.B.O.)
 
198,000
   
48,000
 
246,000
                   
Arkansas, Total 
     
652,000
   
27,000
 
679,000
Evelyn Hills, College Ave. at Abshier, Fayetteville
 
Ozark Natural Foods +
 
128,000
   
0
 
128,000
Broadway Plaza, Broadway at W. Roosevelt, Little Rock.
 
Hair Plus Beauty Supply, Alp’s + (O.B.O.)
 
16,000
   
27,000
 
43,000
Geyer Springs, Geyer Springs at Baseline, Little Rock
 
Budget Saver +, Citi Trends
 
153,000
   
0
 
153,000
Markham Square, W. Markham at John Barrow, Little Rock
 
Burlington Coat Factory
 
127,000
   
0
 
127,000
Markham West, 11400 W. Markham, Little Rock
 
Office Depot, Michael’s, SteinMart, Academy, Bassett Furniture, Dollar Tree
 
178,000
   
0
 
178,000
Westgate, Cantrell at Bryant, Little Rock
 
SteinMart
 
50,000
   
0
 
50,000
                   
Tennessee, Total 
     
514,000
   
0
 
514,000
Bartlett Towne Center, Bartlett Blvd. at Stage Rd., Memphis
 
Kroger +, Petco, Dollar Tree, Shoe Carnival
 
179,000
   
0
 
179,000
Commons at Dexter Lake, Dexter at N. Germantown, Memphis
 
Kroger +, SteinMart
 
167,000
   
0
 
167,000
Highland Square, Summer at Highland, Memphis
 
Walgreen’s
 
14,000
   
0
 
14,000
Summer Center, Summer Ave. at Waring Rd., Memphis
 
Kroger +
 
154,000
   
0
 
154,000
                   
Missouri, Total 
     
366,000
   
28,000
 
394,000
Ballwin Plaza, Manchester Rd. at Vlasis Dr., Ballwin
 
Schnucks +, Michael’s, Sears
 
203,000
   
0
 
203,000
Western Plaza, Hwy 141 at Hwy 30, Fenton
 
Big Lots
 
28,000
*
 
28,000
 
56,000
PineTree Plaza, U.S. Hwy. 50 at Hwy. 291, Lee’s Summit
 
Price Chopper +, Brook Mays Music Co.
 
135,000
   
0
 
135,000
                   
Georgia, Total 
     
774,000
   
174,000
 
948,000
Brookwood Square, East-West Connector and Austell Rd., Austell
 
Marshall’s, Staples, Home Depot
 
253,000
   
0
 
253,000
Thompson Bridge Commons, Thompson Bridge Rd. at Mt. Vernon Rd., Gainesville
 
Kroger +
 
78,000
   
0
 
78,000
Grayson Commons Shopping Center, Grayson Hwy at Rosebud Rd., Grayson
 
Kroger +
 
77,000
   
0
 
77,000
Village Shoppes of Sugarloaf, Sugarloaf Pkwy and Five Forks Trickum Rd., Lawrenceville
 
Publix +
 
148,000
   
0
 
148,000
Sandy Plains Exchange, Sandy Plains at Scufflegrit, Marietta
 
Publix +
 
73,000
   
0
 
73,000
Roswell Corners, Woodstock Rd. and Hardscrabble Rd., Roswell
 
Staples, T.J. Maxx, Super Target + (O.B.O.)
 
145,000
   
174,000
 
319,000
                   
Utah, Total 
     
286,000
   
335,000
 
621,000
Alpine Valley Center, Main St. at State St., American Fork (33%)
 
Target (O.B.O.), Old Navy, Pier 1
 
16,000
*
 
172,000
 
188,000
Taylorsville Town Center, West 4700 South at Redwood Rd., Taylorsville
 
Albertsons + (O.B.O.),Rite Aid
 
94,000
   
40,000
 
134,000
West Jordan Town Center, West 7000 South at S. Redwood Rd., West Jordan
 
Albertsons + , Office Depot, Target (O.B.O.), Petco, Party City
 
176,000
   
123,000
 
299,000
                   
Illinois, Total 
     
273,000
   
121,000
 
394,000
Lincoln Place Centre, Hwy. 59, Fairview Heights
 
Lowe’s (O.B.O.), Kohl’s Department Store
 
103,000
   
121,000
 
224,000
Lincoln Place II, Route 159 at Hwy. 50, Fairview Heights
 
Office Depot, Marshall’s, Old Navy, Linens ‘N Things
 
170,000
   
0
 
170,000
                   
Maine, Total 
     
148,000
   
49,000
 
197,000
The Promenade, Essex at Summit, Lewiston (75%)
 
Staples, Flagship Cinemas
 
148,000
*
 
49,000
 
197,000
                   


Page 22



       
Gross Leasable Area
       
WRI
   
Others
   
Center and Location
 
Anchors
 
Owned
   
(O.B.O.)
 
Total
                   
Kentucky, Total 
     
471,000
   
76,000
 
547,000
Millpond Center, Boston at Man O’War, Lexington
 
Kroger +, Gold’s Gym (O.B.O.)
 
117,000
   
27,000
 
144,000
Tates Creek, Tates Creek at Man O’ War, Lexington
 
Kroger +, Rite Aid , Do It Best Hardware
 
185,000
   
0
 
185,000
Festival at Jefferson Court, Outer Loop at Jefferson Blvd., Louisville
 
Kroger +, PetsMart (O.B.O.), Factory Card Outlet, Sofa Express, AJ Wright (O.B.O.)
 
169,000
   
49,000
 
218,000
                   
Mississippi, Total 
     
117,000
   
0
 
117,000
Southaven Commons, Goodman Rd. at Swinnea Rd., Southaven
 
Schnuck’s +
 
117,000
   
0
 
117,000
                   
Washington, Total
     
0
   
0
 
0
Village at Liberty Lake, E. Country Vista Dr. at N. Liberty Rd., Liberty Lake
 
Vacant
 
0
# *
 
0
 
0
                   
                   
INDUSTRIAL
                 
                   
Houston and Harris County, Total 
     
3,296,000
   
1,916,000
 
5,212,000
Beltway 8 Business Park, Beltway 8 at Petersham Dr.
 
Nomadic Display, Terminix, Odwalla, Inc.
 
158,000
   
0
 
158,000
Blankenship Building, Kempwood Drive
 
Classic Printers
 
59,000
   
0
 
59,000
Brookhollow Business Center, Dacoma at Directors Row
 
Bristol Babcock, Harris County Appraisal District
 
133,000
   
0
 
133,000
Central Park Northwest VI, Central Pkwy. at Dacoma
 
Houston Metallurgical Lab, Inc.
 
175,000
   
0
 
175,000
Central Park Northwest VII, Central Pkwy. at Dacoma
 
Lucent Technologies, Inc.
 
103,000
   
0
 
103,000
Claywood Industrial Park, Clay at Hollister
 
Academy, Ltd.
 
330,000
   
0
 
330,000
Crosspoint Warehouse, Crosspoint
 
Foam Enterprises, LLC.
 
73,000
   
0
 
73,000
Jester Plaza, West T.C. Jester
 
Corporate Care of Houston, Milwaukee Electric Tools Corporation
 
101,000
   
0
 
101,000
Kempwood Industrial, Kempwood Dr. at Blankenship Dr.
 
Pioneer Contract Services
 
113,000
   
0
 
113,000
Kempwood Industrial, Kempwood Dr. at Blankenship Dr. (20%)
 
Pioneer Contract Services
 
42,000
*
 
165,000
 
207,000
Lathrop Warehouse, Lathrop St. at Larimer St. (20%)
 
United D.C., Inc.
 
51,000
*
 
202,000
 
253,000
Nasa One Business Center, Nasa Road One at Hwy. 3
 
Brinks, Devoe Paint
 
112,000
   
0
 
112,000
Navigation Business Park, Navigation at N. York (20%)
 
Packwell Inc.
 
47,000
*
 
191,000
 
238,000
Northway Park II, Loop 610 East at Homestead (20%)
 
Jet Lube, Inc.
 
61,000
*
 
242,000
 
303,000
Railwood F, Market at U.S. 90 (20%)
 
Shell Oil Company
 
60,000
*
 
240,000
 
300,000
Railwood Industrial Park, Mesa at U.S. 90
 
Distribution International, Advo Systems, Global Stainless Supply, Inc., Houston Central Industries, Inc.
 
616,000
   
0
 
616,000
Railwood Industrial Park, Mesa at U.S. 90 (20%)
 
The Home Depot, Inc.
 
99,000
*
 
399,000
 
498,000
South Loop Business Park, S. Loop at Long Dr. (50%)
 
All Current Electric
 
46,000
*
 
46,000
 
92,000
Southport Business Park 5, South Loop 610
 
USF Surface Preparation
 
161,000
   
0
 
161,000
Southwest Park II, Rockley Road
 
Bioassay Laboratory, Inc.
 
68,000
   
0
 
68,000
Stonecrest Business Center, Wilcrest at Fallstone
 
Rentokil, Inc.
 
111,000
   
0
 
111,000
West-10 Business Center, Wirt Rd. at I-10
 
Aaron’s Office Furniture
 
129,000
   
0
 
129,000
West-10 Business Center II, Wirt Rd. at I-10
 
Summers Group, Inc.
 
83,000
   
0
 
83,000
Westgate Service Center, Park Row Drive at Whiteback Dr.
 
Mattress Expo, Solartron
 
119,000
   
0
 
119,000
West Loop Commerce Center, W. Loop N. at I-10
 
Inter-Tel Technologies
 
34,000
   
0
 
34,000
610 and 11th St. Warehouse, Loop 610 at 11th St.
 
Prefco Corp., Houston Central Industries, Inc.
 
105,000
   
0
 
105,000
610 and 11th St. Warehouse, Loop 610 at 11th St. (20%)
 
Iron Mountain, Stone Container
 
48,000
*
 
195,000
 
243,000
610/288 Business Park, Cannon Street (20%)
 
Houston Distribution Services
 
59,000
*
 
236,000
 
295,000
                   
Texas (excluding Houston & Harris Co.), Total 
     
3,024,000
   
0
 
3,024,000
Randol Mill Place, Randol Mill Road, Arlington
 
Premier Products
 
55,000
   
0
 
55,000
Braker 2 Business Center, Kramer Ln. at Metric Blvd., Austin
 
Digital Transaction Group, Inc.
 
27,000
   
0
 
27,000
Corporate Center I & II, Putnam Dr. at Research Blvd., Austin
 
Phoenix - Lamar Corp, Apria Healthcare, Inc.
 
117,000
   
0
 
117,000
Oak Hill Business Park, Industrial Oaks Blvd., Austin
 
Terracon, Inc., Nanocoolers, Inc.
 
90,000
   
0
 
90,000
Rutland 10 Business Center, Metric Blvd. At Centimeter Circle, Austin
 
Minimax, Media Event Concepts, Inc.
 
54,000
   
0
 
54,000
Southpark A,B,C., East St. Elmo Rd. at Woodward St., Austin
 
HJV Associates, Inc.
 
78,000
   
0
 
78,000
Southpoint Service Center, Burleson at Promontory Point Dr., Austin
 
K & S Interconnect
 
54,000
   
0
 
54,000
Wells Branch Corporate Center, Wells Branch Pkwy., Austin
 
Lifetouch Studios
 
59,000
   
0
 
59,000
Midway Business Center, Midway at Boyington, Carrollton
 
ProSource
 
142,000
   
0
 
142,000
Manana Office Center, I-35 at Manana, Dallas
 
Omega Environmental Technologies, Nordstrom, Inc.
 
223,000
   
0
 
223,000
Newkirk Service Center, Newkirk near N.W. Hwy., Dallas
 
Tri-Ed Distribution, Inc., Applied Industrial Technologies TX, L.P.
 
106,000
   
0
 
106,000
Northaven Business Center, Northaven Rd., Dallas
 
SESCO, Inc.
 
151,000
   
0
 
151,000
Northeast Crossing Off/Svc Ctr., East N.W. Hwy. at Shiloh, Dallas
 
Reunion Title, Manufactured Valve Products
 
79,000
   
0
 
79,000
Northwest Crossing Off/Svc Ctr., N.W. Hwy. at Walton Walker, Dallas
 
Corvette World
 
127,000
   
0
 
127,000
Redbird Distribution Center, Joseph Hardin Drive, Dallas
 
Reid Plastics, Inc. Texwood Industries, L.P.
 
111,000
   
0
 
111,000
Regal Distribution Center, Leston Avenue, Dallas
 
Document Management Systems, L.T.D., BKM Total Office of Texas, L.P.
 
203,000
   
0
 
203,000
Space Center Industrial Park, Pulaski St. at Irving Blvd., Dallas
 
Weir’s Furniture Village, Facility Interiors, Inc.
 
265,000
   
0
 
265,000
Walnut Trails Business Park, Walnut Hill Lane, Dallas
 
Flores Events
 
103,000
   
0
 
103,000
DFW-Port America, Port America Place, Grapevine
 
Team Air Express
 
45,000
   
0
 
45,000
Central Plano Business Park, Klein Rd. at Plano Pkwy., Plano
 
Motion Dynamics, Inc.
 
138,000
   
0
 
138,000
Jupiter Service Center, Jupiter near Plano Pkwy., Plano
 
Interceramic Tile & Stone Gallery
 
78,000
   
0
 
78,000
Sherman Plaza Business Park, Sherman at Phillips, Richardson
 
Leggett & Platt, Inc., The Volkswagen Store
 
100,000
   
0
 
100,000


Page 23



       
Gross Leasable Area
       
WRI
   
Others
   
Center and Location
 
Anchors
 
Owned
   
(O.B.O.)
 
Total
                   
INDUSTRIAL, (Cont’d)
                 
                   
Texas (excluding Houston & Harris Co.), (Cont’d)
                 
                   
Interwest Business Park, Alamo Downs Parkway, San Antonio
 
All-American Sports
 
218,000
   
0
 
218,000
O’Connor Road Business Park, O’Connor Road, San Antonio
 
Ingersoll Rand
 
150,000
   
0
 
150,000
Freeport Business Center, 13215 N. Promenade Blvd., Stafford
 
Fairfield Industries, Applera Corporation, Gurtwitch Products
 
251,000
   
0
 
251,000
                   
Georgia, Total 
     
1,568,000
   
0
 
1,568,000
Atlanta Industrial Park, Atlanta Industrial Pkwy. at Atlanta Industrial Dr., Atlanta
 
Target Container Co.,
Sanderson Industries, Inc.
 
552,000
   
0
 
552,000
Sears Logistics, 3700 Southside Industrial Way, Atlanta
 
Sears Logistics Services, Inc.
 
403,000
   
0
 
403,000
Southside Industrial Parkway, Southside Industrial Pkwy and Jonesboro Rd., Atlanta
 
Lowe Supply, Inc., Mission Produce, Masco Contractor Services
 
72,000
   
0
 
72,000
Kennesaw 75, 3850-3900 Kennesaw Prkwy, Kennesaw
 
American Hotel Register Co., Clorox Services Company
 
178,000
   
0
 
178,000
6485 Crescent Dr., I-85 at Jimmy Carter Blvd., Norcross
 
The Home Depot, Inc., Zurn
 
363,000
   
0
 
363,000
                   
Tennessee, Total 
     
972,000
   
0
 
972,000
Crowfarn Drive Warehouse, Crowfarn Dr. at Getwell Rd., Memphis
 
Integris Metals
 
161,000
   
0
 
161,000
Outland Business Center, Outland Center Dr., Memphis
 
International Multifoods, TricorBraun, KMN Modern Farm Equipment, Inc., Quest Communications Corporation
 
410,000
   
0
 
410,000
Southwide Warehouses #2-#4, Federal Compress Ind. Pk., Memphis
 
Federal Express
 
236,000
   
0
 
236,000
Thomas Street Warehouse, N. Thomas Street, Memphis
 
Ampro Industries, Inc.
 
165,000
   
0
 
165,000
                   
Florida, Total 
     
759,000
   
0
 
759,000
Lakeland Industrial Ctr., I-4 at County Rd., Lakeland
 
Rooms to Go, Amware Pallet Services, Publix
 
600,000
   
0
 
600,000
1801 Massaro, 1801 Massaro Blvd., Tampa
 
MiTek Industries, Inc., Parksite, Inc.
 
159,000
   
0
 
159,000
                   
California, Total 
     
727,000
   
0
 
727,000
Siempre Viva Business Park, Siempre Viva Rd. at Kerns St., San Diego
 
Hitachi Transport, UPS Supply Chain Solutions, Inc., Bose Corp., Air Tiger
 
727,000
   
0
 
727,000
                   
UNIMPROVED LAND
                 
                   
Houston & Harris County, Total 
     
2,423,000
       
2,423,000
Bissonnet at Wilcrest
     
196,000
       
196,000
Citadel Plaza at 610 N. Loop
     
137,000
       
137,000
East Orem
     
122,000
       
122,000
Kirkwood at Dashwood Dr.
     
322,000
       
322,000
Mesa Rd. at Tidwell
     
901,000
       
901,000
Northwest Fwy. at Gessner
     
422,000
       
422,000
S. Shaver St.
     
17,000
       
17,000
W. Little York at Interstate 45
     
161,000
       
161,000
W. Loop N. at I-10
     
145,000
       
145,000
                   
Texas (excluding Houston & Harris Co.), Total 
     
792,000
       
792,000
River Pointe Dr. at I-45, Conroe
     
590,000
       
590,000
Hwy. 3 at Hwy. 1765, Texas City
     
202,000
       
202,000
                   
Louisiana, Total 
     
462,000
       
462,000
U.S. Hwy. 171 at Parish, DeRidder
     
462,000
       
462,000
                   


Page 24

 
 

             
OWNED BY
   
   
NUMBER OF
 
WRI
   
OTHERS
 
TOTAL
ALL PROPERTIES-BY LOCATION
 
PROPERTIES
 
OWNED
   
(O.B.O.)
 
SQ FTG
                   
Grand Total
 
355
 
47,143,000
   
12,394,000
 
59,537,000
Houston & Harris County
 
82
 
9,775,000
   
2,879,000
 
12,654,000
Texas (excluding Houston & Harris County)
 
92
 
10,983,000
   
2,694,000
 
13,677,000
Florida
 
24
 
4,680,000
   
688,000
 
5,368,000
California
 
25
 
4,034,000
   
521,000
 
4,555,000
Louisiana
 
17
 
1,856,000
   
1,278,000
 
3,134,000
Nevada
 
11
 
2,413,000
   
747,000
 
3,160,000
North Carolina
 
20
 
2,323,000
   
132,000
 
2,455,000
Georgia
 
11
 
2,342,000
   
174,000
 
2,516,000
Tennessee
 
8
 
1,486,000
   
0
 
1,486,000
Arizona
 
16
 
1,394,000
   
766,000
 
2,160,000
New Mexico
 
7
 
1,182,000
   
397,000
 
1,579,000
Kansas
 
5
 
784,000
   
46,000
 
830,000
Oklahoma
 
4
 
654,000
   
48,000
 
702,000
Arkansas
 
6
 
652,000
   
27,000
 
679,000
Colorado
 
13
 
924,000
   
1,388,000
 
2,312,000
Missouri
 
3
 
366,000
   
28,000
 
394,000
Utah
 
3
 
286,000
   
335,000
 
621,000
Illinois
 
2
 
273,000
   
121,000
 
394,000
Maine
 
1
 
148,000
   
49,000
 
197,000
Kentucky
 
3
 
471,000
   
76,000
 
547,000
Mississippi
 
1
 
117,000
   
0
 
117,000
Washington
 
1
 
0
   
0
 
0
   
 
             
     
 
           
                   
ALL PROPERTIES-BY CLASSIFICATION
                 
                   
Grand Total 
 
355
 
47,143,000
   
12,394,000
 
59,537,000
Shopping Centers
 
294
 
36,797,000
   
10,478,000
 
47,275,000
Industrial
 
61
 
10,346,000
   
1,916,000
 
12,262,000

 
Notes:
*
Denotes partial ownership. WRI's interest is 50% except where noted. The square feet figures represent WRI's proportionate
   
ownership of the property held by the joint venture or partnership.
     
 
+
Denotes supermarket or discount store offering full service grocery along with general merchandise.
     
 
#
Denotes property under development that does not currently have rental income on-line.
     
Owned by Others ("O.B.O.") includes buildings owned entirely by another non-WRI legal entity and the proportionate ownership of WRI's partner(s) in various joint ventures and partnerships.

Page 25