EX-99.2 3 ex99_2.htm EXHIBIT 99.2 ex99_2.htm



                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
Supplemental Financial Information
March 31, 2009
(Unaudited)
                       
                       
                       
                       
                       
                       
                       
                       
                       
                   
                       
                   
                       
                       
                       
                       
                       
                       


 
 

 

 
     
     
     
Table of Contents
Page No.
     
Corporate Profile
1
Condensed Consolidated Statements of Income
2
Condensed Consolidated Balance Sheets
3
Summary Operating Data
4 - 5
 
Funds from Operations
 
 
Dividends
 
 
General and Administrative Expenses
 
 
Net Operating Income
 
 
Rentals
 
 
Interest Expense
 
 
Fee Income From Real Estate Joint Ventures and Partnerships
 
 
Property
 
 
Net Operating Income including Joint Ventures
 
Joint Venture Reporting
6 - 9
 
Financial Statements of Unconsolidated Real Estate Joint Ventures and Partnerships at 100%
 
 
Financial Statements of Unconsolidated Real Estate Joint Ventures and Partnerships at Pro rata Share
 
 
Investments in Unconsolidated Real Estate Joint Ventures & Partnerships
 
 
Mortgage Debt Information for Unconsolidated Real Estate Joint Ventures & Partnerships
 
Summary Balance Sheet Information
10
 
Common Share Data
 
 
Capitalization
 
 
Capital Availability
 
 
Credit Ratings
 
Debt Information
11 - 12
 
Outstanding Balance Summary
 
 
Fixed vs Variable Rate Debt
 
 
Secured vs Unsecured Debt
 
 
Coverage Ratios
 
 
Weighted Average Interest Rates
 
 
Schedule of Maturities
 
Other Information
13 - 14
 
Tenant Diversification
 
 
Lease Expirations
 
 
Leasing Production
 
 
Average Minimum Rent per Square Foot
 
 
Occupancy
 
Property Information
15 - 37
 
Property Investment Summary
 
 
New Development Properties (by Stabilization)
 
 
Land Held for Development
 
 
Disposition Summary
 
 
Total Net Operating Income at Pro rata Share by Geographic Region
 
 
Average Base Rents by CBSA
 
 
Property Listing
 
     
This supplemental financial information package contains historical information of the Company.
 
     
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 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 March 31, 2009, we owned or operated under long-term leases, interests in 382 developed income-producing properties and 25 new development properties (including 16 which are income-producing), which are located in 23 states that span the United States from coast to coast.  Included in the portfolio are 323 shopping centers, 81 industrial projects, and 3 other operating properties.  Our interests in these properties aggregated approximately 46.8 million square feet of leasable area.  Our properties were 91.5% leased as of March 31, 2009, 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
 
 
Dallas, TX
 
 
Ft. Lauderdale, FL
 
 
Las Vegas, NV
 
 
Los Angeles, CA
 
 
Orlando, FL
 
 
Phoenix, AZ
 
 
Raleigh, NC
 
 
Sacramento, CA
 
     
     
     
     
     
     
Stock Listings
 
     
New York Stock Exchange:
 
 
Common Shares
WRI
 
Series D Preferred Shares
WRI-PD
 
Series E Preferred Shares
WRI-PE
 
Series F Preferred Shares
WRI-PF


 
Page 1

 

Weingarten Realty Investors
 
Condensed Consolidated Statements of Income and Comprehensive Income
 
(in thousands, except per share amounts)
 
(as reported)
 
   
                                       
                                       
                                       
     
Three Months Ended
                   
     
March 31,
   
Twelve Months Ended December 31,
 
     
2009
   
2008
   
2008
   
2007
   
2006
   
2005
 
                                       
Revenues:
                                   
Rentals, net
  $ 145,192     $ 148,785     $ 598,746     $ 568,151     $ 514,346     $ 465,486  
Other
    4,069       2,717       13,965       13,259       6,737       6,134  
Total
    149,261       151,502       612,711       581,410       521,083       471,620  
                                                   
Expenses:
                                               
Depreciation and amortization
    38,848       42,497       155,440       127,562       116,887       106,385  
Operating
    24,084       26,184       117,945       103,257       85,297       70,731  
Ad valorem taxes, net
    18,459       17,777       72,591       66,250       60,214       54,267  
General and administrative
    6,000       6,854       25,761       26,979       23,801       17,379  
Impairment loss
                    52,539                          
Total
    87,391       93,312       424,276       324,048       286,199       248,762  
                                                   
Operating Income
    61,870       58,190       188,435       257,362       234,884       222,858  
Interest Expense, net
    (39,557 )     (37,538 )     (156,807 )     (156,745 )     (148,558 )     (129,160 )
Interest and Other Income, net
    1,264       1,049       4,334       8,486       9,044       2,850  
Gain on Redemption of Convertible Senior Unsecured Notes
                    12,961                          
Equity in Earnings of Real Estate Joint Ventures and Partnerships, net (a)
    3,662       5,247       12,196       19,853       14,655       6,610  
Gain on Land and Merchant Development Sales
    14,122       519       8,342       16,385       7,166       804  
Benefit (Provision) for Income Taxes
    (4,964 )     (747 )     10,164       (4,073 )     (1,366 )        
Income from Continuing Operations
    36,397       26,720       79,625       141,268       115,825       103,962  
Operating Income from Discontinued Operations
    180       2,060       4,250       11,325       24,428       33,986  
Gain on Sale of Property from Discontinued Operations
    739       8,370       68,722       83,659       145,494       65,459  
Income from Discontinued Operations
    919       10,430       72,972       94,984       169,922       99,445  
Gain on Sale of Property
    6,494       12       1,998       4,086       22,493       22,306  
Net Income
    43,810       37,162       154,595       240,338       308,240       225,713  
Less:
Net Income Attributable to Noncontrolling Interests
    (1,795 )     (1,826 )     (8,943 )     (10,237 )     (6,414 )     (6,060 )
Net Income Adjusted for Noncontrolling Interests
    42,015       35,336       145,652       230,101       301,826       219,653  
Preferred Share Dividends
    (8,869 )     (8,618 )     (34,711 )     (25,375 )     (10,101 )     (10,101 )
Redemption Costs of Preferred Shares
                    (1,850 )                        
Net Income Available to Common Shareholders
  $ 33,146     $ 26,718     $ 109,091     $ 204,726     $ 291,725     $ 209,552  
Earnings Per Common Share - Basic
  $ 0.38     $ 0.32     $ 1.29     $ 2.39     $ 3.33     $ 2.35  
Earnings Per Common Share - Diluted
  $ 0.38     $ 0.32     $ 1.28     $ 2.35     $ 3.24     $ 2.31  
                                                   
                                                   
(a)       See Page 7 for the Company's pro rata share of the operating results of its unconsolidated real estate joint ventures and partnerships.
                 
                                                   
Note:  Prior periods have been restated to conform to the current year presentation for the adoption of FSP APB 14-1, "Accounting for Convertible Debt Instruments That May be Settled in Cash upon Conversion (Including Partial Cash Settlement)" and SFAS 160, "Noncontrolling Interests in Consolidatd Financial Statements--an amendment of ARB No. 51."
 


 
Page 2

 
 
Weingarten Realty Investors
 
Condensed Consolidated Balance Sheets
 
(in thousands, except per share amounts)
 
(as reported)
 
   
             
             
   
March 31,
   
December 31,
 
   
2009
   
2008
 
ASSETS
           
             
Property
  $ 4,915,778     $ 4,915,472  
Accumulated Depreciation
    (832,698 )     (812,323 )
Property Held for Sale, net
    7,173          
Property, net
    4,090,253       4,103,149  
                 
Investment in Real Estate Joint Ventures and Partnerships, net (a)
    358,353       357,634  
Total
    4,448,606       4,460,783  
                 
Notes Receivable from Real Estate Joint Ventures and Partnerships
    249,553       232,544  
Unamortized Debt and Lease Costs, net
    116,138       119,464  
  Accrued Rent and Accounts Receivable (net of allowance for doubtful accounts of $12,365 in 2009 and $12,412 in 2008)
    79,841       103,873  
Cash and Cash Equivalents
    118,260       58,946  
Restricted Deposits and Mortgage Escrows
    13,346       33,252  
Other, net
    86,780       105,350  
  Total
  $ 5,112,524     $ 5,114,212  
                 
LIABILITIES AND EQUITY
               
                 
Debt, net
  $ 3,169,700     $ 3,148,636  
Accounts Payable and Accrued Expenses
    145,846       179,432  
Other, net
    90,257       90,461  
Total
    3,405,803       3,418,529  
                 
Commitments and Contingencies
    41,000       41,000  
                 
 Equity:
               
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 2009 and 2008; liquidation preference $75,000
    3       3  
6.95% Series E cumulative redeemable preferred shares of beneficial interest; 29 shares issued and outstanding in 2009 and 2008; liquidation preference $72,500
    1       1  
6.5% Series F cumulative redeemable preferred shares of beneficial interest; 140 shares issued and outstanding in 2009 and 2008; liquidation preference $350,000
    4       4  
Common Shares of Beneficial Interest - par value, $.03 per share; shares authorized: 150,000; shares issued and outstanding: 
       87,406 in 2009 and 87,102 in 2008
    2,634       2,625  
Accumulated Additional Paid-In Capital
    1,518,910       1,514,940  
Net Income Less Than Accumulated Dividends
    (49,987 )     (37,245 )
Accumulated Other Comprehensive Loss
    (29,057 )     (29,676 )
Shareholders' Equity
    1,442,508       1,450,652  
  Noncontrolling Interest
    223,213       204,031  
  Total Equity
    1,665,721       1,654,683  
Total
  $ 5,112,524     $ 5,114,212  
                 
                 
(a) This represents the Company's investment of its unconsolidated real estate joint ventures and partnerships. See page 7 for additional information.
 
                 
Note: The prior period has been restated to conform to the current year presentation for the adoption of FSP APB 14-1, "Accounting for Convertible Debt Instruments That May Be Settled in Cash upon Conversion (Including Partial Cash Settlement)" and SFAS 160, "Noncontrolling Interests in Consolidated Financial Statements--an amendment of ARB No. 51."
 


 
Page 3

 
 
Weingarten Realty Investors
 
Summary Operating Data
 
(in thousands, except per share amounts)
 
             
             
             
   
Three Months Ended
 
   
March 31,
 
   
2009
   
2008
 
Funds from Operations
           
Numerator:
           
Net income available to common shareholders
  $ 33,146     $ 26,718  
Depreciation and amortization
    37,163       42,302  
Depreciation and amortization of unconsolidated real estate joint ventures and partnerships
    4,140       2,540  
Gain on sale of property
    (7,229 )     (7,736 )
Gain on sale of property of unconsolidated real estate joint ventures and partnerships
    (4 )     (14 )
Funds from Operations - Basic
    67,216       63,810  
Funds from operations attributable to operating
               
Funds from operations attributable to operating partnership units
               
Funds from Operations - Diluted
  $ 67,216     $ 63,810  
                 
Denominator:
               
Weighted average shares outstanding - Basic
    86,979       83,679  
Effect of dilutive securities:
               
Share options and awards
    352       488  
Operating partnership units
               
Weighted average shares outstanding - Diluted
    87,331       84,167  
                 
Funds from Operations per Share - Basic
  $ 0.77     $ 0.76  
                 
Funds from Operations Per Share - Diluted
  $ 0.77     $ 0.76  
                 
Growth in Funds from Operations per Share - Diluted
            1.3 %
                 
                 
Dividends
               
Common Dividends per Share ***
  $ 0.525     $ 0.525  
                 
Common Dividends Paid as a % of Funds from Operations
    68.3 %     69.0 %
                 
                 
General and Administrative Expenses
               
General and Administrative Expenses/Total Revenue
    4.0 %     4.5 %
                 
General and Administrative Expenses/Total Assets before Depreciation
    0.10 %     0.12 %
                 
                 
Net Operating Income *
               
Same Property NOI Growth: **
               
Cash Basis
               
  Retail
    -2.5 %     0.7 %
  Industrial
    -2.8 %     1.8 %
  Total
    -2.6 %     0.8 %
 
   
*
Includes the Company's share of unconsolidated real estate joint ventures and partnerships and excludes its partners' share of consolidated real estate joint ventures and partnerships ("Pro rata Share").
             
   
**
Same Property NOI Growth excludes the effect of lease cancellation income and straight-line rent adjustments, but does include provisions for uncollectible amounts and related recoveries.
   
 
       
   
***
On April 27, 2009, our Board of Trust Managers authorized a reduction in our quarterly dividend from an annual rate of $2.10 to $1.00 commencing with the second quarter 2009 distribution.
     
   
The National Association of Real Estate Investment Trusts defines funds from operations as net income (loss) available to common shareholders computed in accordance with generally accepted accounting principles, excluding gains or losses from sales of real estate assets and extraordinary items, plus depreciation and amortization of operating properties, including our share of unconsolidated real estate joint ventures and partnerships. We calculate FFO in a manner consistent with the NAREIT definition.
 
Management uses FFO as a supplemental measure to conduct and evaluate our business because there are certain limitations associated with using GAAP net income by itself as the primary measure of our operating performance. Historical cost accounting for real estate assets in accordance with GAAP implicitly assumes that the value of real estate assets diminishes predictably over time. Since real estate values instead have historically risen or fallen with market conditions, management believes that the presentation of operating results for real estate companies that uses historical cost accounting is insufficient by itself. There can be no assurance that FFO presented by us is comparable to similarly titled measures of other REITs.
 
FFO should not be considered as an alternative to net income or other measurements under GAAP as an indicator of our operating performance or to cash flows from operating, investing or financing activities as a measure of liquidity. FFO does not reflect working capital changes, cash expenditures for capital improvements or principal payments on indebtedness.

 

 
Page 4

 

Weingarten Realty Investors
Summary Operating Data (continued)
(in thousands)
             
             
             
   
Three Months Ended
 
   
March 31,
 
   
2009
   
2008
 
Rentals, net
           
Base minimum rent, net
  $ 111,934     $ 113,117  
Straight line rent
    1,976       2,667  
Over/Under-market rentals, net
    837       890  
Percentage rent
    999       1,467  
Tenant reimbursements
    29,446       30,644  
Total
  $ 145,192     $ 148,785  
                 
                 
   
Three Months Ended
 
   
March 31,
 
   
2009
   
2008
 
Interest Expense, net
               
Interest paid or accrued
  $ 43,871     $ 44,317  
Over-market mortgage adjustment
    (1,117 )     (1,601 )
Gross interest expense
    42,754       42,716  
Less:
               
Capitalized interest
    (3,197 )     (5,178 )
Interest expense, net
  $ 39,557     $ 37,538  
                 
                 
   
Three Months Ended
 
   
March 31,
 
   
2009
   
2008
 
Fee Income from Real Estate Joint Ventures and Partnerships
               
Recurring
  $ 1,717     $ 1,632  
Non-Recurring
    63       -  
Total
  $ 1,780     $ 1,632  
                 
                 
   
March 31,
   
December 31,
 
   
2009
   
2008
 
Property
               
Land
  $ 952,165     $ 964,982  
Land held for development
    117,767       118,078  
Land under development
    94,174       101,587  
Buildings and improvements
    3,522,639       3,488,385  
Construction in-progress
    229,033       242,440  
Total
  $ 4,915,778     $ 4,915,472  
                 
                 
   
Three Months Ended
 
   
March 31,
 
   
2009
   
2008
 
Net Operating Income including Joint Ventures
               
Revenues
  $ 149,261     $ 151,502  
Operating expense
    (24,084 )     (26,184 )
Ad valorem taxes
    (18,459 )     (17,777 )
Total
    106,718       107,541  
                 
Net Operating Income from Discontinued Operations
    244       3,068  
                 
Prorata Share of Unconsolidated Joint Ventures
               
Revenues
    13,423       10,680  
Operating expense
    (2,170 )     (1,756 )
Ad valorem taxes
    (1,797 )     (1,310 )
Total
    9,456       7,614  
                 
Minority Interests Share of Net Operating Income and Other Adjustments
    (5,481 )     (1,160 )
                 
Net Operating Income including Joint Ventures
  $ 110,937     $ 117,063  

 
Page 5

 
 
Weingarten Realty Investors
 
Financial Statements of Unconsolidated Real Estate Joint Ventures and Partnerships at 100%
 
(in thousands)
 
             
       
       
   
Three Months Ended
 
   
March 31,
 
   
2009
   
2008
 
             
Revenues:
         
 
Base minimum rent, net
  $ 30,447     $ 27,913  
Straight line rent
    780       744  
Over/Under-market rentals, net
    1,971       1,406  
Percentage rent
    172       204  
Tenant reimbursements
    7,907       7,844  
Other income
    1,625       562  
Total
    42,902       38,673  
                 
Expenses:
               
Depreciation and amortization
    13,076       8,618  
Interest, net
    7,019       3,921  
Operating
    7,099       6,263  
Ad valorem taxes, net
    5,563       4,788  
General and administrative
    1,294       265  
Total
    34,051       23,855  
                 
Gain on land and merchant development sales
            495  
Gain on sale of property
    11       38  
Net income
  $ 8,862     $ 15,351  
                 
                 
                 
                 
                 
   
March 31,
   
December 31,
 
   
2009
   
2008
 
ASSETS
               
                 
Property
  $ 1,976,072     $ 1,951,771  
Accumulated depreciation
    (139,978 )     (129,227 )
Property, net
    1,836,094       1,822,544  
                 
  Other assets, net
    240,978       256,688  
                 
Total
  $ 2,077,072     $ 2,079,232  
                 
                 
LIABILITIES AND SHAREHOLDERS' EQUITY
               
                 
Debt, net
  $ 469,218     $ 472,486  
Amounts payable to Weingarten Realty Investors
    264,126       248,969  
Other liabilities, net
    148,520       149,265  
Accumulated equity
    1,195,208       1,208,512  
                 
Total
  $ 2,077,072     $ 2,079,232  


 
Page 6

 

Weingarten Realty Investors
 
Financial Statements of Unconsolidated Real Estate Joint Ventures and Partnerships at Pro rata Share
 
(in thousands)
 
             
             
             
   
Three Months Ended
 
   
March 31,
 
   
2009
   
2008
 
             
Revenues:
           
Base minimum rent, net
  $ 9,399     $ 7,910  
Straight line rent
    278       234  
Over/Under-market rentals, net
    409       262  
Percentage rent
    61       63  
Tenant reimbursements
    2,516       2,233  
Other income (loss)
    760       (22 )
Total
    13,423       10,680  
                 
Expenses:
               
Depreciation and amortization
    4,140       2,540  
Interest, net
    2,358       813  
Operating
    2,170       1,756  
Ad valorem taxes, net
    1,797       1,310  
General and administrative
    579       83  
Total
    11,044       6,502  
                 
Gain on land and merchant development sales
            182  
Gain on sale of property
    4       14  
                 
Net income   **
  $ 2,383     $ 4,374  
                 
                 
   
March 31,
   
December 31,
 
   
2009
   
2008
 
ASSETS
               
                 
Property
  $ 605,222     $ 593,923  
Accumulated depreciation
    (52,071 )     (48,476 )
Property, net
    553,151       545,447  
                 
Other assets, net
    98,778       104,439  
Total
  $ 651,929     $ 649,886  
                 
                 
LIABILITIES AND SHAREHOLDERS' EQUITY
               
                 
Debt, net
  $ 163,310     $ 164,699  
Amounts payable to Weingarten Realty Investors
    124,371       117,150  
Other liabilities, net
    63,075       63,320  
Total
    350,756       345,169  
                 
Accumulated equity
    301,173       304,717  
                 
Total
  $ 651,929     $ 649,886  
 
 
       
Three Months Ended
 
       
March 31,
 
       
2009
   
2008
 
                 
**
 
Net income from unconsolidated real estate joint ventures and partnerships
  $ 2,383     $ 4,374  
   
Intercompany fee income reclass
    1,348       1,248  
   
Other adjustments
    (69 )     (375 )
   
Equity in earnings of real estate joint ventures and partnerships, net
  $ 3,662     $ 5,247  

Notes:
The Consolidated Financial Statements at pro rata share include only the real estate operations of joint ventures and partnerships at WRI's ownership percentages.  Pro rata financial information is not, and is not intended to be, a presentation in accordance with generally accepted accounting principles.

 


 
Page 7

 

 
Investments in Unconsolidated Real Estate Joint Ventures & Partnerships
 
March 31, 2009
 
(In Thousands)
 
                                                 
                               
                           
Weingarten Realty
 
Joint Venture Partner
 
Number of Properties
   
Total GLA
   
Total Assets
   
Total Debt
   
Ownership Interest
   
Share of Debt
   
Investment Balance
   
Equity in Earnings of Unconsolidated JVs
 
                                                 
TIAA Florida Retail LLC
    7       1,258     $ 334,777     $ -       20.0 %   $ -     $ 64,507     $ 530  
AEW SRP, LLC
    10       895       170,460       104,986       25.0 %     26,246       13,831       39  
Collins
    8       1,100       158,298       30,949       50.0 %     15,474       56,809       520  
AEW - Institutional Client
    6       523       135,418       69,443       20.0 %     13,889       12,436       340  
BIT Retail
    3       715       158,656       -       20.0 %     -       31,047       303  
BIT Investment Thirty-Six, LP
    12       4,068       227,825       24,566       20.0 %     4,913       34,085       161  
Eagle AN, LP
    7       2,050       52,979       34,993       20.0 %     6,999       0       23  
                                                                 
Other
    29       4,120       838,659       204,281       46.9 %     95,788       145,638       1,746  
                                                                 
Total
    82       14,729     $ 2,077,072     $ 469,218       28.3 %   $ 163,310     $ 358,353     $ 3,662  
                                                                 
Joint Venture Description
                                                         
                                                                 
RETAIL
                                                               
TIAA Florida Retail LLC
 
Joint venture with an institutional partner, TIAA-CREF Global Real Estate
                 
AEW SPR, LLC
 
Retail joint venture with an institutional partner through AEW Capital Management
                 
Collins
 
Primarily a development joint venture in the Texas Rio Grande valley
                       
AEW - Institutional Client
 
Joint venture with an institutional partner through AEW Capital Management
                 
BIT Retail
 
Retail joint venture with Mercantile Real Estate Advisors and its client, the AFL-CIO Building Investment Trust
 
                                                                 
INDUSTRIAL
                                                               
BIT Investment Thirty-Six, LP
 
Industrial joint venture with Mercantile Real Estate Advisors and its client, the AFL-CIO Building Investment Trust
 
Eagle AN, LP
 
Industrial joint venture with American National Insurance Company
                       


 
Page 8

 
 
Weingarten Realty Investors
 
Mortgage Debt Information for Unconsolidated Joint Ventures & Partnerships
 
March 31, 2009
 
(In Thousands)
 
                         
Joint Venture Partner
 
# of Mortgaged Properties
   
Mortgage Balance
   
Average Interest Rate (1)
   
Average Remaining Term (yrs)
 
                         
TIAA Florida Retail LLC
    -     $ -       -       -  
AEW SRP, LLC
    7       104,986       5.7 %     6.8  
Collins
    2       30,949       6.2 %     12.3  
AEW - Institutional Client
    6       69,443       5.7 %     4.9  
BIT Retail
    -       -       -       -  
BIT Investment Thirty-Six, LP
    4       24,566       6.4 %     2.6  
Eagle AN, LP
    1       34,993       8.1 %     1.4  
                                 
Other
    8       128,527       5.6 %     8.0  
                                 
Total
    28     $ 393,464       6.0 %     6.3  
                                 

 
Schedule of Maturities
 
                         
   
At 100%
   
At WRI Share
 
   
Maturities
   
Average Interest Rate
   
Maturities
   
Average Interest Rate
 
                         
2009
  $ -       -     $ -       -  
2010 (1)
    44,147       7.4 %     9,840       6.9 %
2011
    13,286       7.3 %     6,776       7.3 %
2012
    15,370       6.1 %     3,074       6.1 %
2013
    47,603       6.1 %     16,703       5.9 %
2014
    53,920       5.9 %     12,106       5.9 %
2015
    37,219       5.3 %     7,864       5.3 %
2016
    99,710       5.7 %     30,537       5.7 %
2017
    44,540       5.6 %     19,715       5.6 %
Thereafter
    37,669       5.6 %     18,834       5.6 %
Total
  $ 393,464       6.0 %   $ 125,449       5.9 %

(1) All mortgages are fixed rate except for one of the "other" which has a variable rate mortgage ($3.4 million), maturing in 2010


 
Page 9

 

Weingarten Realty Investors
 
Summary Balance Sheet Information
 
(in thousands, except common share data and percentages)
 
               
               
               
     
March 31,
   
December 31,
 
     
2009
   
2008
 
               
Common Share Data
           
Closing Market Price
  $ 9.52     $ 20.69  
                   
Dividend Yield
    22.06 %     10.15 %
                   
90-Day, Average Daily Trading Volume
    1,349,267       1,290,339  
                   
                   
Capitalization (As reported)
               
Debt
  $ 3,169,700     $ 3,148,636  
Preferred Shares
    497,500       497,500  
Common Shares at Market
    832,105       1,802,140  
Operating Partnership Units at Market
    20,478       45,559  
 
Total Market Capitalization
  $ 4,519,783     $ 5,493,835  
                   
Debt to Total Market Capitalization
    70.1 %     57.3 %
                   
                   
Capitalization (Pro rata)
               
Debt
  $ 3,120,855     $ 3,108,982  
Preferred Shares
    497,500       497,500  
Common Shares at Market
    832,105       1,802,140  
Operating Partnership Units at Market
    20,478       45,559  
 
Total Market Capitalization
  $ 4,470,938     $ 5,454,181  
                   
Debt to Total Market Capitalization
    69.8 %     57.0 %
                   
                   
Capital Availability
               
Unused Portion of $575 MM Revolver
  $ 156,923     $ 181,943  
Shelf Registration (1)- $125 MM Effective December 2008
  $ 125,000          
                   
 
Total
  $ 281,923     $ 181,943  
                   
                   
Credit Ratings
 
S&P
   
Moody's
 
                   
Senior Debt
 
BBB
   
Baa2
 
Preferred Shares
 
BB+
   
Baa3
 
                   
(1)
Effective December 8, 2008, an automatic open shelf registration was filed, allowing us to issue various securities over the next three years as determined by the market. On March 12, 2009, under this shelf, we entered into a sales agreement with Merrill Lynch, relating to our common shares, having an aggregate sales price of up to $125,000,000. As of 3/31/09, no shares have been issued for this sales agreement.
 


 
Page 10

 

Weingarten Realty Investors
 
Debt Information
 
(in thousands, except percentages)
 
                           
                           
           
1st Quarter
         
4th Quarter
 
     
March 31,
   
Weighted
   
December 31,
   
Weighted
 
     
2009
   
Average Rate
   
2008
   
Average Rate
 
Outstanding Balance Summary (1)
                       
Mortgage Debt
  $ 997,764       5.96 %   $ 1,003,709       6.37 %
7% 2011 Bonds
    200,000       7.00 %     200,000       7.00 %
3.95% Convertible Bonds (2)
    516,376       3.95 %     514,298       3.95 %
Unsecured Notes Payable
    1,014,567       5.77 %     1,014,567       5.77 %
Revolving Credit Agreements (3)
    408,000       1.28 %     383,000       2.55 %
Industrial Revenue Bonds
    3,268       2.22 %     3,337       3.44 %
Obligations under Capital Leases
    29,725       5.49 %     29,725       5.98 %
 
Total Debt - As Reported
    3,169,700       5.09 %     3,148,636       5.31 %
Less:  Noncontrolling Interest
    (212,155 )             (204,353 )        
Plus:  WRI Share of Unconsolidated Joint Ventures
    163,310               164,699          
 
Total Debt - Pro rata Share
  $ 3,120,855       5.17 %   $ 3,108,982       5.31 %
                                   
                                   
                                   
     
March 31,
           
December 31,
         
     
2009
   
% of Total
   
2008
   
% of Total
 
Fixed vs. Variable Rate Debt (at Pro rata Share)
                               
(includes the effect of interest rate swaps)
                               
                                   
Fixed-rate debt
  $ 2,641,884       84.7 %   $ 2,659,268       85.5 %
Variable-rate debt
    478,971       15.3 %     449,714       14.5 %
 
Total
  $ 3,120,855       100.0 %   $ 3,108,982       100.0 %
                                   
                                   
Secured vs. Unsecured Debt (at Pro rata Share)
                               
Secured Debt
  $ 939,699       30.1 %   $ 992,491       31.9 %
Unsecured Debt
    2,181,156       69.9 %     2,116,491       68.1 %
 
Total
  $ 3,120,855       100.0 %   $ 3,108,982       100.0 %
                                   
                                   
                                   
Coverage Ratios (at Pro rata Share trailing 4 quarters)
                               
Fixed Charge Coverage
    2.02 x             1.99 x        
Interest Coverage
    2.41 x             2.37 x        
Debt Service Coverage
    2.34 x             2.31 x        
                                   
                                   
                                   
     
As
   
Pro rata
                 
     
Reported
   
Share
                 
Weighted Average Interest Rates (1)
                               
Three months ended 03/31/09
    5.09 %     5.17 %                
Twelve months ended 12/31/08
    5.54 %     5.53 %                
                                   
                                   
                                   
                                   
                                   
(1)
Weighted average interest rates exclude the effects of FAS 141, discounts on convertible bonds, and loan costs related to financing.
 
                                   
(2)
The convertible bonds mature August 1, 2026 with a five year option to redeem anytime after August 2011 and an initial conversion price of $49.075 per share.
 
                                   
(3)
Weighted average revolving interest rate excluding the effect of the commitment fee was 1.05% in first quarter 2009 and 2.34% in fourth quarter 2008.
 


 
Page 11

 

Weingarten Realty Investors
 
Debt Information
 
(in thousands, except percentages)
 
                                     
                                     
                                     
Schedule of Maturities at March 31, 2009
                             
                                     
                                     
                                     
   
As Reported
   
Pro rata Share
 
   
Maturities
   
Rate (6)
   
Maturities
   
Rate (6)
   
Floating Rate
   
Fixed Rate
 
2009  (1)
    91,834       6.48 %     88,083       6.55 %     12,269       75,814  
2010  (2)
    128,613       6.43 %     138,970       6.45 %     2,429       136,541  
2011  (3)
    303,412       6.76 %     310,290       6.75 %     488       309,802  
2012
    334,701       5.51 %     337,612       5.53 %     679       336,933  
2013
    413,440       5.75 %     306,836       5.65 %     841       305,995  
2014
    374,611       5.36 %     385,962       5.37 %     3,102       382,860  
2015
    249,780       6.06 %     213,493       5.56 %     1,124       212,369  
2016
    147,123       6.27 %     176,795       5.78 %     1,296       175,499  
2017
    29,391       6.90 %     33,580       6.43 %     1,456       32,124  
2018
    54,007       8.28 %     30,914       5.54 %     1,553       29,361  
Thereafter  (3)
    609,636       4.39 %     647,864       4.10 %     29,239       618,625  
Subtotal
    2,736,548               2,670,399               54,476       2,615,923  
                                                 
Revolvers  (4)
    408,000       1.28 %     408,000       1.28 %     408,000          
Other  (5)
    25,152               42,456               (33,505 )     75,961  
Swap Maturities:
                                               
2014
                                    50,000       (50,000 )
                                                 
Total
  $ 3,169,700       5.09 %   $ 3,120,855       5.17 %   $ 478,971     $ 2,641,884  
                                                 
                                                 
                                                 
 
(1)
Includes $2.4 million of amortizing industrial revenue bonds with a final maturity date of 2015 that are currently callable by the lender.
 
(2)
Includes $9.7 million of MTN's maturing 2028 with 12 and 20 year put options.
 
(3)
Thereafter includes $537.2 million of Convertible debt maturing in 2026 which has a 5 year call and put option in 2011.
 
(4)
Includes the effect of the commitment fee.  
(5)
Other includes capital leases, FAS 141 adjustment, market value of swaps and discounts on convertible bonds. Our pro rata share calculation also includes bonds issued in association with a guarantee in connection with a project in Denver, Colorado.
 
(6)
Weighted average interest rates exclude the effects of FAS 141, discounts on convertible bonds, and loan costs related to financing.
 


 
Page 12

 

 
Tenant Diversification by Percent of Rental Revenues at Pro rata Share
 
(in thousands, except percentages and # of units)
 
                         
               
% of
       
               
Pro rata
       
         
# of Units
   
Rental
   
Square
 
Rank
 
Tenant Name
DBA’s
 
Revenue
   
Feet
 
                         
  1  
THE KROGER CO.
Kroger, Smith Food, Ralphs, Fry's Food, King Soopers
    30       2.10 %     1,459  
                                 
  2  
T.J.X. COMPANIES, INC.
T.J. Maxx, Marshalls, Home Goods
    33       1.68 %     803  
                                 
  3  
ROSS STORES, INC.
Ross Dress for Less
    34       1.66 %     765  
                                 
  4  
HOME DEPOT, INC.
      7       1.25 %     806  
                                 
  5  
SAFEWAY, INC.
Safeway, Randalls, Von's
    19       1.21 %     806  
                                 
  6  
PUBLIX SUPER MARKETS, INC.
      23       1.16 %     730  
                                 
  7  
OFFICE DEPOT, INC.
      26       1.09 %     525  
                                 
  8  
PETSMART, INC.
      20       0.98 %     364  
                                 
  9  
GAP, INC.
Gap, Old Navy, Banana Republic
    19       0.87 %     297  
                                 
  10  
BLOCKBUSTER VIDEO
      49       0.84 %     223  
                                 
  11  
BARNES & NOBLE INC.
Barnes & Noble, Bookstop Booksellers
    11       0.78 %     232  
                                 
  12  
PETCO ANIMAL SUPPLIES, INC.
      22       0.75 %     251  
                                 
  13  
STAPLES
      14       0.72 %     303  
                                 
  14  
BED BATH & BEYOND, INC.
      19       0.67 %     356  
                                 
  15  
WHOLE FOODS
      6       0.65 %     218  
                                 
  16  
RALEY'S
Raley's Bel Air Markets
    6       0.64 %     331  
                                 
  17  
H E BUTT GROCERY
      6       0.64 %     291  
                                 
  18  
OFFICE MAX INC.
      11       0.61 %     250  
                                 
  19  
DOLLAR TREE STORES, INC.
Dollar Tree, Greenbacks
    32       0.61 %     291  
                                 
  20  
HARRIS TEETER
      7       0.61 %     287  
                                 
  21  
TOYS 'R' US
      9       0.58 %     312  
                                 
  22  
BEST BUY, INC.
      10       0.57 %     225  
                                 
  23  
FOOD LION
      9       0.48 %     335  
                                 
  24  
ANNA'S LINENS
      18       0.48 %     175  
                                 
  25  
24 HOUR FITNESS INC.
      5       0.45 %     115  
                                 
     
Total
      445       22.11 %     10,750  


 
Page 13

 

 
Leasing Information
 
(in thousands, except percentages and # of units and leases, pro rata share)
 
                                       
                                       
Lease Expirations
                   
     
Shopping Center
   
Industrial
   
Total
 
     
Percentage of
   
Percentage of
   
Percentage of
 
           
Pro rata
         
Pro rata
         
Pro rata
 
Year Expiring
   
Sq. Ft.
   
Revenue
   
Sq. Ft.
   
Revenue
   
Sq. Ft.
   
Revenue
 
2009
      6.07 %     6.60 %     15.63 %     14.86 %     8.50 %     7.56 %
2010
      13.11 %     14.30 %     18.80 %     19.29 %     14.56 %     14.89 %
2011
      14.59 %     15.43 %     12.98 %     14.82 %     14.18 %     15.36 %
2012
      12.19 %     13.18 %     13.62 %     14.16 %     12.55 %     13.29 %
2013
      13.19 %     13.44 %     14.17 %     14.54 %     13.44 %     13.57 %
2014-2018       24.57 %     24.14 %     23.23 %     20.49 %     24.23 %     23.72 %
2019-2028       15.56 %     12.20 %     1.56 %     1.84 %     12.01 %     10.98 %
                                                     
                                                     
Leasing Production - New Leases and Renewals
                                 
                                                     
               
Number
           
Increase
                 
               
of Leases
   
Square Feet
   
in Base Rent
                 
Three Months Ended
                                                 
March 31, 2009
                                                 
Retail
              238       892       9.3 %                
Industrial
              34       709       8.6 %                
Total
              272       1,602       9.2 %                
                                                     
Three Months Ended
                                                 
March 31, 2008
                                                 
Retail
              239       1,086       16.3 %                
Industrial
              49       643       10.5 %                
Total
              288       1,729       15.3 %                
                                                     
Note:  Increase in base rent percent now reflects the effect of straight line rent.
                         
                                                     
Average Minimum Rent per Square Foot
                                         
                                                     
       
  Quarter Ended
         
       
March 31,
   
December 31,
   
September 30,
   
June 30,
   
March 31,
         
       
2009
   
2008
   
2008
   
2008
   
2008
         
                                                     
Retail
    $ 13.24     $ 13.16     $ 13.05     $ 12.96     $ 12.73          
Industrial
    $ 5.00     $ 4.98     $ 4.92     $ 4.91     $ 4.92          
                                                     
                                                     
Occupancy
      Quarter Ended          
       
March 31,
   
December 31,
   
September 30,
   
June 30,
   
March 31,
         
       
2009
   
2008
   
2008
   
2008
   
2008
         
                                                     
Shopping Center Portfolio
      91.7 %     93.0 %     94.5 %     94.2 %     94.8 %        
Industrial Portfolio
      90.9 %     91.6 %     91.4 %     91.9 %     90.7 %        
Total Portfolio
      91.5 %     92.6 %     93.7 %     93.6 %     93.7 %        
                                                     
                                                     
Note: A space is considered occupied upon execution of a lease agreement.
                         


 
Page 14

 
 
Weingarten Realty Investors
 
Property Information
 
(in thousands at pro rata share)
 
                                                   
                                                   
                                                   
                                                   
                           
Remodels/
                     
Property Investment Summary
                     
Existing
                     
         
New
   
Major
   
Tenant
   
Development
     
Leasing/
   
All
       
   
Acquisitions
   
Development
   
Repairs
   
Finish
   
(1)
     
Broker Fees
   
Other
   
Total
 
                                                   
Three Months Ended 3/31/2009
  $ 0     $ 24,063     $ 1,631     $ 2,903     $ 3,165       $ 5,010     $ 904     $ 37,675  
Year Ended 12/31/2008
    2,685       193,235       20,570       35,290       37,781   (2)     24,002       8,231       321,793  
Year Ended 12/31/2007
    565,427       218,239       18,236       29,928       20,751         21,345       13,356       887,282  
Year Ended 12/31/2006
    602,987       166,999       14,338       27,233       2,724         20,820       2,799       837,901  
                                                                   
                                                                   
(1) Primarily incremental investment on properties formerly classified as new development
                       
(2) Includes approximately $12 million for costs incurred in 2008 for new development properties moved to land held of development
 

 
Page 15

 
Weingarten Realty Investors
New Development Properties (By Stabilization)
(in thousands at pro rata share, except percentages)
                                                                 
                                                                 
                      Total Square           Spent                              
                      Feet of     Percent     Year-     Spent     Total Estimated       Est.    
                WRI    
Building
   
Leased (1)
   
To-
   
Inception
    Investment (2)      
Final
 
Estimated
               
Own
   
Area (1)
   
Net @
         
Date
   
to
    WRI     Gross      
ROI
 
Stabilized
   
Center Name
 
Location
 
Anchors
 
%
   
(Gross)
   
Net
    100%    
Gross
   
2008
   
Date
   
Costs
   
Costs
     
%
 
Date
1  
Horne Street Market
 
Ft. Worth, Texas
 
24 Hour Fitness
  100.00 %   47     42     100.0 %   89.4 %   $ 1,514     $ 10,547     $ 10,804     $ 10,804          
2Q'09
2  
Market at Sharyland Place*
 
Mission, Texas
 
Wal-Mart #, Kohl's,
  50.00 %   313     56     84.9 %   94.6 %     16       2,470       3,031       6,062          
3Q'09
3  
Jess Ranch Marketplace Phase II*
 
Apple Valley (Los Angeles), California
 
Winco #
  50.00 %   308     107     89.9 %   93.0 %     46       17,240       19,286       38,572          
4Q'09
4  
ClayPoint Distribution Park (Industrial)
 
Houston, Texas
 
Pioneer, Packaging Corp. of America
  100.00 %   359     359     28.3 %   28.3 %     2,080       15,434       19,047       19,047          
4Q'09
5  
Phillips Crossing
 
Orlando, Florida
 
Golf Galaxy, Whole Foods, Michael's
  100.00 %   146     146     86.2 %   86.2 %     1,620       27,674       27,624       27,624          
4Q'09
   
Total 2009 Stabilizations
                1,173     711     63.8 %   72.6 %   $ 5,277     $ 73,365     $ 79,792     $ 102,109            
1  
Market at Nolana*
 
McAllen, Texas
 
Wal-Mart #
  50.00 %   260     23     59.0 %   87.1 %     5       4,750       4,560       9,119          
2010
2  
Phillips Village
 
Orlando, Florida
 
Wal-Mart #
  100.00 %   286     66     44.1 %   87.0 %     -33       13,571       14,855       14,855          
2010
3  
Waterford
 
Leland (Wilmington), North Carolina
 
Harris Teeter
  75.00 %   110     67     76.1 %   66.8 %     441       10,948       11,062       14,750          
2010
4  
Clermont Landing*
 
Clermont (Orlando), Florida
 
JC Penney #, Epic Theater #
  55.00 %   366     103     62.6 %   79.1 %     2,375       18,146       19,085       34,700          
2010
5  
Gardens on Havana Phase 1*
 
Aurora (Denver), Colorado
 
Kohl's, Target, Dick's Sporting Goods, Sprouts
  39.80 %   419     167     79.1 %   79.1 %     2,601       15,925       16,188       40,683          
2010
6  
Riverpoint at Sheridan Phase 1*
 
Sheridan (Denver), Colorado
 
Costco #, Target #, Regal Cinema
  50.00 %   530     91     52.3 %   80.2 %     2,766       21,352       24,375       48,750          
2010
7  
Mohave Crossroads Phase 1
 
Bullhead City,  Arizona
 
Target #, Kohl's #, Marshall's, Bed Bath, Staples
  100.00 %   394     193     78.5 %   89.5 %     352       39,265       43,927       43,927          
2010
8  
The Shoppes at Parkwood Ranch Phase 1
 
Mesa (Phoenix), Arizona
 
Hobby Lobby, Dollar Tree
  100.00 %   107     93     77.5 %   80.5 %     2,255       12,809       15,873       15,873          
2010
9  
Ridgeway Trace Center Phase 1
 
Memphis, Tennessee
 
Target #, Sports Authority, Best Buy
  100.00 %   249     111     64.4 %   84.1 %     684       24,429       39,248       39,248          
2010
10  
Jess Ranch Marketplace Phase III*
 
Apple Valley (Los Angeles), California
 
Cinemark, Best Buy, Bed Bath, 24 Hour Fitness
  50.00 %   195     97     80.3 %   80.3 %     1,680       18,983       24,092       48,184          
2010
   
Total 2010 Stabilizations
                2,916     1,012     70.8 %   82.3 %   $ 13,124     $ 180,177     $ 213,265     $ 310,089            
1  
The Shoppes at Parkwood Ranch Phase 2
 
Mesa (Phoenix), Arizona
 
Hobby Lobby, Dollar Tree
  100.00 %   15     15     0.0 %   0.0 %     420       2,099       3,449       3,449          
2011
2  
Gateway Station
 
Ft. Worth, Texas
 
Kohl's #, Best Buy #, Michaels #, Ross #, Conn's
  70.00 %   523     65     41.7 %   89.6 %     125       7,332       10,927       15,610          
2011
3  
Westover Square
 
San Antonio, Texas
 
All Pad Site
  67.00 %   70     0     0.0 %   0.0 %     1       2,689       0       0   (3)      
2011
4  
Surf City Crossing
 
Surf City (Wilmington), North Carolina
 
Harris Teeter
  75.00 %   110     55     67.1 %   47.9 %     49       3,574       6,823       9,097          
2011
5  
Gardens on Havana Phase 2*
 
Aurora (Denver), Colorado
 
Kohl's, Target, Dick's Sporting Goods, Sprouts
  39.80 %   96     38     7.7 %   7.7 %     466       4,315       5,989       15,052          
2011
6  
Ridgeway Trace Center Phase 2
 
Memphis, Tennessee
 
Target #, Sports Authority, Best Buy
  100.00 %   62     62     0.0 %   0.0 %     252       10,902       18,303       18,303          
2011
7  
Epic Village Phase I - St. Augustine
 
St. Augustine, Florida
 
Epic Theatre #
  70.00 %   96     15     41.1 %   63.4 %     316       4,095       4,313       6,161          
2011
8  
300 West Town Center*
 
Salt Lake City, Utah
 
Target #
  31.80 %   247     26     0.0 %   66.6 %     226       4,435       6,876       21,624          
2011
   
Total 2011 Stabilizations
                1,218     276     23.5 %   61.9 %   $ 1,855     $ 39,442     $ 56,679     $ 89,295            
1  
North Towne Plaza
 
Brownsville, Texas
 
Lowe's #
  75.00 %   299     103     0.0 %   39.1 %     1,186       12,346       19,168       25,557          
2012
2  
Westwood Center
 
San Antonio, Texas
 
Wal-Mart #
  100.00 %   321     88     2.8 %   68.9 %     -747       15,224       15,987       15,987          
2012
3  
Mohave Crossroads Phase 2
 
Bullhead City, Arizona
 
Target #, Kohl's #, Marshall's, Bed Bath, Staples
  100.00 %   31     31     0.0 %   0.0 %     77       4,687       5,640       5,640          
2012
4  
Tomball Marketplace
 
Tomball (Houston), Texas
 
Academy #
  100.00 %   356     250     14.5 %   34.1 %     1,597       32,077       47,201       47,201          
2012
5  
Palm Coast Landing at Town Center Phase 2*
 
Palm Coast, Florida
 
Target #
  50.00 %   78     0     0.0 %   0.0 %     1,430       6,563       0       0   (3)      
2012
6  
The Shoppes at Wilderness Oaks
 
San Antonio, Texas
 
All Pad Site
  100.00 %   84     44     0.0 %   0.0 %     160       12,020       8,233       8,233   (4)      
2012
7  
Riverpoint at Sheridan Phase 2*
 
Sheridan (Denver), Colorado
 
Costco #, Target #, Regal Cinema
  50.00 %   249     124     0.0 %   0.0 %     105       12,679       19,792       39,583          
2012
   
Total 2012 Stabilizations
                1,418     640     4.8 %   32.4 %   $ 3,807     $ 95,596     $ 116,021     $ 142,201            
Total 25 Properties Under Development (exclusive of phasing)
            6,726     2,639     49.2 %   66.4 %   $ 24,063     $ 388,580     $ 465,756     $ 643,694      
8.1%
   
Total 25 New Development Properties (exclusive of phasing)
            6,726     2,639     49.2 %   66.4 %   $ 24,063     $ 388,580     $ 465,756     $ 643,694      
8.1%
   
 
*
Unconsolidated Joint Venture
#
Denotes anchors that are not owned by Weingarten
(1)
Total Building Area (Gross) square footage reflects 100% ownership including square feet owned by other.  WRI's share of building area (Net) square footage reflects WRI's ownership percentage excluding square feet owned by other and excluding other possible future building area
(2)
Net of expected proceeds not yet received from anchor and pad sales
(3)
WRI will not have an investment interest after pad sale considerations
(4)
Total estimated costs are net of land sales
Note:  Phased projects are counted as one project
 

 
Page 16

 
 
As of March 31, 2009
in thousands, except acres
                       
Land Held for Development
                       
   
Ownership
   
Gross
   
Investment (1)
Location
 
Interest
   
Acres
     
100%
   
Pro Rata
                         
FM 1957 (Potranco Rd) and FM 211, San Antonio
    50.0 %     198.7              
Rock Prairie Rd. at Hwy. 6, College Station
    100.0 %     82.0              
South Fulton Parkway and SH 92, Union City - Atlanta
    100.0 %     81.6              
US Hwy 1 and Caveness Farms Road, Wake Forest - Raleigh
    100.0 %     79.9              
Shary Road and US Hwy 83, Mission
    50.0 %     36.9              
Creedmoor (Highway 50) and Crabtree Valley Avenue, Raleigh
    100.0 %     13.2              
Northwest Freeway at Gessner, Houston *
    100.0 %     4.9              
West Loop North at Interstate 10, Houston *
    100.0 %     3.3              
Citadel Plaza at 610 North Loop, Houston *
    100.0 %     3.1              
US Hwy 15-501 & Bruce Wood Rd., Southern Pines, NC
    100.0 %     24.0              
FM 2920 and Future 249, Tomball - Houston
    100.0 %     8.4              
Culebra Road and Westwood Loop, San Antonio
    100.0 %     9.3              
Bear Valley Road at Jess Ranch Parkway, Apple Valley
    50.0 %     3.2              
Bear Valley Road at Jess Ranch Parkway, Apple Valley
    50.0 %     10.3              
Highway 17 and Highway 210, Surf City
    75.0 %     36.5              
US Hwy 17 & US Hwy 74/76, Leland
    75.0 %     8.3              
Decatur at 215 - Las Vegas
    100.0 %     25.3              
Mississippi at Havana, Aurora - Denver
    39.8 %     9.6              
Lon Adams Rd at Tangerine Farms Rd  - Tuscan
    50.0 %     10.7              
Young Pines and Curry Ford Rd, Orange County, Florida - Orlando
    100.0 %     3.0              
Other *
    100.0 %     32.2              
Total Land Held Properties
            684.5     $ 145,693   $
       116,800
                             
*  Represents land parcels held by WRI for many years that have never been reported as new development assets.
     
Note:  Land costs account for $123.0 million of total investment at 100%, $95.7 million at pro rata share.
             
                             
(1)   Net of impairment adjustments made at 12/31/2008
                           


 
Page 17

 
 
Weingarten Realty Investors
 
Disposition Summary
 
(in thousands at pro rata share)
 
                         
       
Sq. Ft.
               
       
of Bldg. Area
 
Date
 
Sales
   
Weighted Sales
 
Center
 
City/State
 
at 100%
 
Sold
 
Proceeds
   
Cap
 
                         
Operating Properties
                       
                         
                         
New Boston Road Plaza
 
Texarkana, TX
  99  
3/26/09
           
Westland Fair Shopping Center - Wal-Mart and Lowe's
 
Las Vegas, NV
  387  
3/31/09
           
                         
Total Operating Properties
              $ 27,005     7.57 %
                           
                           
                           
Merchant Development
                         
                           
                           
Westwood Center - McDonald's
 
San Antonio, TX
     
3/13/09
             
Mohave Crossroads - JP Morgan Chase Bank, NA
 
Bullhead City, AZ
     
3/30/09
             
Wyoming Mall - Wal-Mart
 
Albuquerque, NM
     
3/31/09
             
                           
Total Merchant Development
              $ 21,375        
                           
                           
Total Operting Properties & Merchant Development
          $ 48,380        


 
Page 18

 

Weingarten Realty Investors
 
Total Net Operating Income at Pro rata Share by Geographic Region (1)
 
(in thousands, except percentages)
 
                                                                         
                                                                         
                                                                         
   
Three Months Ended March 31,
   
Twelve Months Ended December 31,
 
   
2009
   
%
   
2008
   
%
   
2008
   
%
   
2007
   
%
   
2006
   
%
   
2005
   
%
 
                                                                         
Western Region
                                                                       
California
  $ 12,656     12.3 %   $ 12,306     10.9 %   $ 51,176     12.1 %   $ 50,503     11.3 %   $ 50,074     12.1 %   $ 47,868     12.2 %
Nevada
    8,437     8.2 %     8,531     7.5 %     34,360     8.0 %     31,338     7.0 %     27,796     6.7 %     25,161     6.4 %
Arizona
    6,704     6.5 %     6,242     5.5 %     26,181     6.2 %     23,192     5.2 %     15,009     3.6 %     14,965     3.8 %
Colorado
    2,665     2.6 %     2,982     2.6 %     10,779     2.5 %     12,162     2.7 %     13,488     3.3 %     11,447     2.9 %
New Mexico
    2,729     2.6 %     2,895     2.6 %     11,355     2.7 %     10,472     2.3 %     11,394     2.8 %     10,315     2.6 %
Utah
    909     0.9 %     904     0.8 %     3,614     0.9 %     3,545     0.8 %     3,231     0.8 %     2,926     0.7 %
Oregon
    341     0.3 %     358     0.3 %     1,385     0.3 %     929     0.2 %     46     0.0 %     -     0.0 %
Washington
    295     0.3 %     304     0.3 %     1,193     0.3 %     1,295     0.3 %     251     0.1 %     -     0.0 %
Total Western Region
    34,736     33.7 %     34,521     30.5 %     140,044     33.0 %     133,437     29.8 %     121,289     29.4 %     112,683     28.6 %
                                                                                     
Central Region
                                                                                   
Texas
  $ 30,336     29.4 %   $ 38,374     33.9 %   $ 124,407     29.3 %   $ 154,800     34.7 %   $ 154,473     37.4 %   $ 157,357     40.0 %
Louisiana
    2,181     2.1 %     2,873     2.5 %     10,907     2.6 %     12,831     2.9 %     12,754     3.1 %     13,600     3.5 %
Kansas
    471     0.5 %     454     0.4 %     1,949     0.5 %     1,980     0.4 %     3,714     0.9 %     6,282     1.6 %
Arkansas
    752     0.7 %     711     0.6 %     3,006     0.7 %     3,028     0.7 %     3,505     0.8 %     3,855     1.0 %
Mississippi
    -     0.0 %     -     0.0 %     (0 )   0.0 %     (0 )   0.0 %     (6 )   0.0 %     956     0.2 %
Illinois
    757     0.7 %     785     0.7 %     3,129     0.7 %     2,378     0.5 %     2,985     0.7 %     2,870     0.7 %
Missouri
    343     0.3 %     306     0.3 %     1,182     0.3 %     1,439     0.3 %     2,193     0.5 %     2,827     0.7 %
Oklahoma
    240     0.2 %     249     0.2 %     955     0.2 %     1,009     0.2 %     3,002     0.7 %     3,616     0.9 %
Total Central Region
    35,080     33.9 %     43,752     38.6 %     145,536     34.3 %     177,465     39.7 %     182,621     44.1 %     191,364     48.6 %
                                                                                     
Eastern Region
                                                                                   
Florida
  $ 17,364     16.9 %   $ 17,743     15.7 %   $ 70,335     16.5 %   $ 67,400     15.2 %   $ 56,601     13.8 %   $ 46,076     11.8 %
North Carolina
    6,583     6.4 %     6,730     5.9 %     26,978     6.3 %     27,027     6.1 %     23,694     5.7 %     19,749     5.1 %
Virginia
    762     0.7 %     587     0.5 %     2,551     0.6 %     2,036     0.5 %     -     0.0 %     -     0.0 %
South Carolina
    71     0.1 %     67     0.1 %     276     0.1 %     287     0.1 %     242     0.1 %     -     0.0 %
Georgia
    5,803     5.6 %     6,293     5.6 %     25,039     5.8 %     23,929     5.4 %     14,861     3.6 %     12,119     3.1 %
Tennessee
    1,142     1.1 %     1,825     1.6 %     7,015     1.7 %     6,964     1.6 %     7,386     1.8 %     5,967     1.5 %
Kentucky
    1,626     1.6 %     1,658     1.5 %     6,629     1.6 %     6,787     1.5 %     5,944     1.4 %     4,719     1.2 %
Maine
    39     0.0 %     24     0.0 %     278     0.1 %     381     0.1 %     433     0.1 %     538     0.1 %
Total Eastern Region
    33,390     32.4 %     34,927     30.9 %     139,101     32.7 %     134,811     30.5 %     109,161     26.5 %     89,167     22.8 %
                                                                                     
Total Net Operating Income
  $ 103,206     100.0 %   $ 113,200     100.0 %   $ 424,681     100.0 %   $ 445,713     100.0 %   $ 413,072     100.0 %   $ 393,214     100.0 %


(1)
The Net Operating Income at Pro rata Share includes the real estate operations of joint ventures at WRI's ownership percentages ranging from 7.8% to 81% except for the operations of down-reit partnerships, which are included at 100% with the applicable minority interest.  Net Operating Income excludes the effect of lease cancellation income and straight-line rent adjustments.   Pro rata financial information is not, and is not intended to be, a presentation in accordance with generally accepted accounting principles.

 

 
Page 19

 

Weingarten Realty Investors
 
Average Base Rents by CBSA
 
As of: 3/31/2009
 
In Thousands, except per square foot amounts
 
Economics reflect WRI's pro rata ownership interest
 
                                                       
                     
Occupied
   
Annualized
   
Avg. Base
   
Occupied
   
Annualized
   
Avg. Base
 
                     
SF
   
Rents
   
Rents
   
SF
   
Rents
   
Rents
 
   
# of
                                                 
   
Properties
   
GLA
   
Total ABR
   
Greater than 10K SF
   
Less than 10K SF
 
                                                       
                                                       
Retail
                                                     
West Region
                                                     
Flagstaff, AZ
  1     166     $ 10.52     126     $ 1,018     $ 8.07     37     $ 701     $ 18.80  
Lake Havasu City-Kingman, AZ
  1     149     $ 14.09     112     $ 1,297     $ 11.53     30     $ 712     $ 23.65  
Phoenix-Mesa-Scottsdale, AZ
  17     1,360     $ 14.33     722     $ 6,373     $ 8.82     507     $ 11,242     $ 22.16  
Tucson, AZ
  5     729     $ 13.11     436     $ 3,585     $ 8.22     187     $ 4,593     $ 24.51  
                                                                 
Arizona
  24     2,403     $ 13.67     1,397     $ 12,273     $ 8.78     762     $ 17,248     $ 22.63  
                                                                 
Los Angeles-Long Beach et al, CA
  3     584     $ 17.15     395     $ 5,591     $ 14.14     151     $ 3,782     $ 25.05  
Madera, CA
  1     85     $ 12.44     52     $ 488     $ 9.37     26     $ 488     $ 18.51  
Modesto, CA
  1     79     $ 15.06     47     $ 515     $ 10.84     29     $ 636     $ 21.98  
Redding, CA
  1     121     $ 17.15     65     $ 560     $ 8.67     51     $ 1,429     $ 27.82  
Riverside et al, CA
  4     608     $ 18.45     293     $ 3,281     $ 11.21     200     $ 5,806     $ 29.06  
Sacramento--Arden et al, CA
  5     630     $ 12.36     330     $ 1,751     $ 5.30     227     $ 5,133     $ 22.63  
San Diego-Carlsbad et al, CA
  2     157     $ 20.59     73     $ 739     $ 10.16     78     $ 2,369     $ 30.28  
San Francisco-Oakland et al, CA
  3     447     $ 21.01     246     $ 3,509     $ 14.28     163     $ 5,087     $ 31.13  
San Jose-Sunnyvale et al, CA
  2     146     $ 19.43     66     $ 423     $ 6.43     63     $ 2,072     $ 33.10  
Santa Cruz-Watsonville, CA
  1     150     $ 9.36     93     $ 466     $ 5.00     46     $ 836     $ 18.20  
Santa Rosa-Petaluma, CA
  1     199     $ 13.56     55     $ 393     $ 7.20     30     $ 761     $ 24.96  
Vallejo-Fairfield, CA
  3     364     $ 16.90     165     $ 1,214     $ 7.37     154     $ 4,174     $ 27.09  
                                                                 
California
  27     3,569     $ 16.62     1,879     $ 18,930     $ 10.07     1,219     $ 32,572     $ 26.72  
                                                                 
Colorado Springs, CO
  2     297     $ 9.10     243     $ 1,843     $ 7.59     50     $ 820     $ 16.54  
Denver-Aurora, CO
  9     791     $ 14.88     353     $ 3,312     $ 9.39     251     $ 5,677     $ 22.59  
                                                                 
Colorado
  11     1,088     $ 13.00     596     $ 5,155     $ 8.66     301     $ 6,497     $ 21.59  
                                                                 
Las Vegas-Paradise, NV
  11     2,238     $ 14.78     1,499     $ 15,809     $ 10.55     615     $ 15,431     $ 25.11  
                                                                 
Nevada
  11     2,238     $ 14.78     1,499     $ 15,809     $ 10.55     615     $ 15,431     $ 25.11  
                                                                 
Albuquerque, NM
  4     502     $ 15.22     250     $ 2,850     $ 11.39     163     $ 3,438     $ 21.09  
Santa Fe, NM
  1     250     $ 13.74     105     $ 1,120     $ 10.62     86     $ 1,508     $ 17.59  
                                                                 
New Mexico
  5     752     $ 14.75     356     $ 3,970     $ 11.16     249     $ 4,946     $ 19.88  
                                                                 
Portland-Vancouver et al, OR-WA
  3     120     $ 12.98     66     $ 559     $ 8.51     45     $ 880     $ 19.48  
                                                                 
Oregon
  3     120     $ 12.98     66     $ 559     $ 8.51     45     $ 880     $ 19.48  
                                                                 
Provo-Orem, UT
  1     30     $ 15.21     12     $ 158     $ 13.43     18     $ 298     $ 16.36  
Salt Lake City, UT
  2     276     $ 12.43     175     $ 1,771     $ 10.11     84     $ 1,457     $ 17.26  
                                                                 
Utah
  3     307     $ 12.72     187     $ 1,929     $ 10.32     103     $ 1,754     $ 17.10  
                                                                 
Seattle-Tacoma-Bellevue, WA
  4     82     $ 16.79     64     $ 938     $ 14.72     13     $ 357     $ 26.59  
                                                                 
Washington
  4     82     $ 16.79     64     $ 938     $ 14.72     13     $ 357     $ 26.59  
                                                                 
Total West Region
  88     10,559     $ 14.89     6,043     $ 59,564     $ 9.86     3,306     $ 79,686     $ 24.10  
                                                                 
Central Region
                                                               
                                                                 
Little Rock-N. Little Rock, AR
  3     358     $ 8.74     298     $ 2,262     $ 7.59     48     $ 760     $ 15.97  
                                                                 
Arkansas
  3     358     $ 8.74     298     $ 2,262     $ 7.59     48     $ 760     $ 15.97  
                                                                 
Chicago et al, IL-IN-WI
  1     304     $ 11.40     268     $ 2,675     $ 9.97     21     $ 629     $ 29.37  
                                                                 
Illinois
  1     304     $ 11.40     268     $ 2,675     $ 9.97     21     $ 629     $ 29.37  
                                                                 
Kansas City, MO-KS
  1     135     $ 9.56     76     $ 601     $ 7.89     37     $ 476     $ 13.02  
Topeka, KS
  1     116     $ 11.26     116     $ 1,303     $ 11.26     0     $ 0     $ 0.00  
                                                                 
Kansas
  2     251     $ 10.42     192     $ 1,904     $ 9.92     37     $ 476     $ 13.02  
                                                                 
Hammond, LA
  1     226     $ 6.72     125     $ 465     $ 3.72     86     $ 955     $ 11.06  
Lafayette, LA
  2     154     $ 10.42     57     $ 479     $ 8.41     76     $ 908     $ 11.92  
Lake Charles, LA
  4     458     $ 6.97     321     $ 1,729     $ 5.38     96     $ 1,181     $ 12.33  

 
 
Page 20

 
 

Weingarten Realty Investors
 
Average Base Rents by CBSA
 
As of: 3/31/2009
 
In Thousands, except per square foot amounts
 
Economics reflect WRI's pro rata ownership interest
 
                                                       
                     
Occupied
   
Annualized
   
Avg. Base
   
Occupied
   
Annualized
   
Avg. Base
 
                     
SF
   
Rents
   
Rents
   
SF
   
Rents
   
Rents
 
   
# of
                                                 
   
Properties
   
GLA
   
Total ABR
   
Greater than 10K SF
   
Less than 10K SF
 
                                                       
                                                       
Monroe, LA
  1     141     $ 5.47     87     $ 293     $ 3.37     50     $ 454     $ 9.12  
New Orleans-Metairie-Kenner, LA
  1     156     $ 15.04     78     $ 772     $ 9.87     75     $ 1,533     $ 20.41  
Shreveport-Bossier City, LA
  1     46     $ 16.18     27     $ 357     $ 13.43     14     $ 303     $ 21.34  
                                                                 
Louisiana
  10     1,183     $ 8.63     695     $ 4,094     $ 5.89     397     $ 5,335     $ 13.42  
                                                                 
St. Louis, MO-IL
  2     229     $ 9.87     130     $ 1,148     $ 8.82     53     $ 659     $ 12.45  
                                                                 
Missouri
  2     229     $ 9.87     130     $ 1,148     $ 8.82     53     $ 659     $ 12.45  
                                                                 
Oklahoma City, OK
  2     172     $ 7.58     83     $ 406     $ 4.91     52     $ 615     $ 11.80  
                                                                 
Oklahoma
  2     172     $ 7.58     83     $ 406     $ 4.91     52     $ 615     $ 11.80  
                                                                 
Amarillo, TX
  3     219     $ 11.17     65     $ 478     $ 7.36     133     $ 1,729     $ 13.03  
Beaumont-Port Arthur, TX
  8     413     $ 9.36     159     $ 754     $ 4.74     131     $ 1,960     $ 15.01  
College Station-Bryan, TX
  1     107     $ 10.77     86     $ 923     $ 10.74     15     $ 164     $ 10.95  
Corpus Christi, TX
  2     490     $ 12.85     245     $ 2,333     $ 9.51     189     $ 3,246     $ 17.18  
Dallas-Fort Worth-Arlington, TX
  9     1,213     $ 12.56     569     $ 5,225     $ 9.19     422     $ 7,218     $ 17.12  
Houston-Baytown-Sugar Land, TX
  60     4,605     $ 13.23     2,572     $ 23,711     $ 9.22     1,495     $ 30,099     $ 20.14  
Killeen-Temple-Fort Hood, TX
  1     115     $ 11.85     98     $ 1,033     $ 10.52     15     $ 307     $ 20.62  
Laredo, TX
  2     377     $ 14.06     260     $ 3,024     $ 11.65     100     $ 2,031     $ 20.32  
Lubbock, TX
  2     182     $ 8.52     143     $ 955     $ 6.67     36     $ 574     $ 15.82  
Lufkin, TX
  1     248     $ 6.81     205     $ 1,069     $ 5.22     32     $ 542     $ 17.01  
McAllen-Edinburg-Pharr, TX
  7     475     $ 11.68     372     $ 3,604     $ 9.69     85     $ 1,735     $ 20.32  
Rio Grande City, TX
  1     88     $ 11.33     76     $ 788     $ 10.42     12     $ 203     $ 17.09  
San Antonio, TX
  7     566     $ 11.93     363     $ 3,151     $ 8.69     167     $ 3,166     $ 18.97  
Tyler, TX
  1     60     $ 7.81     33     $ 212     $ 6.35     21     $ 209     $ 10.18  
                                                                 
Texas
  105     9,160     $ 12.41     5,245     $ 47,261     $ 9.01     2,851     $ 53,184     $ 18.65  
                                                                 
Total Central Region
  125     11,656     $ 11.71     6,911     $ 59,750     $ 8.65     3,459     $ 61,659     $ 17.82  
                                                                 
East Region
                                                               
                                                                 
Fort Walton Beach et al, FL
  2     70     $ 15.96     45     $ 615     $ 13.76     15     $ 343     $ 22.36  
Jacksonville, FL
  1     312     $ 9.31     250     $ 1,862     $ 7.44     52     $ 949     $ 18.37  
Miami-Fort Lauderdale et al, FL
  16     2,026     $ 15.07     1,131     $ 11,293     $ 9.98     756     $ 17,157     $ 22.68  
Orlando, FL
  13     1,652     $ 15.52     1,039     $ 12,886     $ 12.40     435     $ 10,003     $ 22.98  
Palm Bay-Melbourne et al, FL
  3     182     $ 9.07     102     $ 587     $ 5.75     65     $ 929     $ 14.25  
Palm Coast, FL
  1     76     $ 17.37     53     $ 739     $ 13.90     16     $ 454     $ 29.25  
Port St. Lucie-Fort Pierce, FL
  1     50     $ 10.97     37     $ 315     $ 8.51     5     $ 151     $ 27.75  
Punta Gorda, FL
  2     25     $ 19.03     15     $ 215     $ 14.34     7     $ 194     $ 29.85  
Sarasota-Bradenton-Venice, FL
  1     97     $ 10.72     46     $ 324     $ 7.13     41     $ 605     $ 14.69  
Tampa-St. Petersburg et al, FL
  4     920     $ 13.31     577     $ 5,620     $ 9.73     298     $ 6,039     $ 20.25  
                                                                 
Florida
  44     5,411     $ 14.29     3,296     $ 34,456     $ 10.45     1,691     $ 36,825     $ 21.78  
                                                                 
Atlanta-Sandy Springs et al, GA
  14     1,642     $ 13.38     1,031     $ 9,951     $ 9.65     491     $ 10,413     $ 21.19  
Gainesville, GA
  1     28     $ 13.31     21     $ 239     $ 11.31     5     $ 112     $ 21.32  
                                                                 
Georgia
  15     1,670     $ 13.38     1,052     $ 10,189     $ 9.69     497     $ 10,526     $ 21.20  
                                                                 
Lexington-Fayette, KY
  2     304     $ 13.78     207     $ 1,844     $ 8.92     196     $ 3,715     $ 18.91  
Louisville, KY-IN
  1     169     $ 12.05     73     $ 628     $ 8.56     70     $ 1,102     $ 15.69  
                                                                 
Kentucky
  3     473     $ 13.33     280     $ 2,472     $ 8.82     267     $ 4,817     $ 18.06  
                                                                 
Lewiston-Auburn, ME
  1     148     $ 5.14     96     $ 441     $ 4.61     27     $ 188     $ 7.05  
                                                                 
Maine
  1     148     $ 5.14     96     $ 441     $ 4.61     27     $ 188     $ 7.05  
                                                                 
Charlotte-Gastonia et al, NC-SC
  4     319     $ 17.20     154     $ 2,099     $ 13.67     120     $ 2,612     $ 21.69  
Durham, NC
  6     342     $ 10.94     172     $ 1,512     $ 8.78     117     $ 1,652     $ 14.11  
Raleigh-Cary, NC
  13     1,633     $ 11.57     989     $ 7,512     $ 7.59     559     $ 10,402     $ 18.59  
Southern Pines-Pinehurst, NC
  1     250     $ 8.29     162     $ 859     $ 5.31     72     $ 1,079     $ 15.02  
Wilmington, NC
  1     52     $ 12.28     37     $ 300     $ 8.20     16     $ 342     $ 21.77  
                                                                 
North Carolina
  25     2,596     $ 11.83     1,514     $ 12,283     $ 8.11     884     $ 16,087     $ 18.19  
                                                                 
Hilton Head Island-Beaufort, SC
  1     22     $ 15.35     5     $ 45     $ 8.50     15     $ 269     $ 17.72  
                                                                 
South Carolina
  1     22     $ 15.35     5     $ 45     $ 8.50     15     $ 269     $ 17.72  
                                                                 
Memphis, TN-MS-AR
  6     435     $ 11.16     264     $ 2,290     $ 8.68     126     $ 2,064     $ 16.33  
                                                                 
Tennessee
  6     435     $ 11.16     264     $ 2,290     $ 8.68     126     $ 2,064     $ 16.33  

 
 
Page 21

 
 
 

Weingarten Realty Investors
 
Average Base Rents by CBSA
 
As of: 3/31/2009
 
In Thousands, except per square foot amounts
 
Economics reflect WRI's pro rata ownership interest
 
                                                       
                     
Occupied
   
Annualized
   
Avg. Base
   
Occupied
   
Annualized
   
Avg. Base
 
                     
SF
   
Rents
   
Rents
   
SF
   
Rents
   
Rents
 
   
# of
                                                 
   
Properties
   
GLA
   
Total ABR
   
Greater than 10K SF
   
Less than 10K SF
 
                                                       
                                                       
Total East Region
  95     10,755     $ 13.28     6,506     $ 62,176     $ 9.56     3,507     $ 70,776     $ 20.18  
                                                                 
Total Retail
  308     32,969     $ 13.24     19,461     $ 181,490     $ 9.33     10,273     $ 212,121     $ 20.65  
                                                                 
Industrial
                                                               
                                                                 
West Region
                                                               
                                                                 
San Diego-Carlsbad et al, CA
  1     145     $ 7.09     66     $ 465     $ 7.02     1     $ 11     $ 12.60  
                                                                 
California
  1     145     $ 7.09     66     $ 465     $ 7.02     1     $ 11     $ 12.60  
                                                                 
Total West Region
  1     145     $ 7.09     66     $ 465     $ 7.02     1     $ 11     $ 12.60  
                                                                 
Central Region
                                                               
                                                                 
Austin-Round Rock, TX
  6     427     $ 10.60     88     $ 1,106     $ 12.63     268     $ 2,663     $ 9.94  
Dallas-Fort Worth-Arlington, TX
  16     2,473     $ 4.76     1,632     $ 6,799     $ 4.17     526     $ 3,462     $ 6.59  
Houston-Baytown-Sugar Land, TX
  31     3,663     $ 5.59     2,676     $ 13,720     $ 5.13     664     $ 4,951     $ 7.45  
San Antonio, TX
  3     545     $ 5.44     324     $ 1,689     $ 5.21     167     $ 986     $ 5.88  
                                                                 
Texas
  56     7,107     $ 5.58     4,719     $ 23,314     $ 4.94     1,625     $ 12,062     $ 7.42  
                                                                 
Total Central Region
  56     7,107     $ 5.58     4,719     $ 23,314     $ 4.94     1,625     $ 12,062     $ 7.42  
                                                                 
East Region
                                                               
                                                                 
Lakeland, FL
  2     768     $ 4.55     708     $ 3,220     $ 4.55     0     $ 0     $ 0.00  
Tampa-St. Petersburg et al, FL
  3     896     $ 4.30     770     $ 3,287     $ 4.27     17     $ 97     $ 5.64  
                                                                 
Florida
  5     1,665     $ 4.42     1,477     $ 6,507     $ 4.41     17     $ 97     $ 5.64  
                                                                 
Atlanta-Sandy Springs et al, GA
  10     1,610     $ 3.76     1,200     $ 4,492     $ 3.74     17     $ 78     $ 4.69  
                                                                 
Georgia
  10     1,610     $ 3.76     1,200     $ 4,492     $ 3.74     17     $ 78     $ 4.69  
                                                                 
Memphis, TN-MS-AR
  3     685     $ 2.67     576     $ 1,536     $ 2.67     2     $ 8     $ 4.02  
                                                                 
Tennessee
  3     685     $ 2.67     576     $ 1,536     $ 2.67     2     $ 8     $ 4.02  
                                                                 
Richmond, VA
  9     861     $ 4.89     739     $ 3,575     $ 4.84     5     $ 62     $ 13.33  
                                                                 
Virginia
  9     861     $ 4.89     739     $ 3,575     $ 4.84     5     $ 62     $ 13.33  
                                                                 
Total East Region
  27     4,820     $ 4.06     3,992     $ 16,111     $ 4.04     40     $ 244     $ 6.06  
                                                                 
Total Industrial
  84     12,072     $ 5.00     8,778     $ 39,889     $ 4.54     1,667     $ 12,318     $ 7.39  
                                                                 
Joint venture properties are reflected at WRI's pro rata share
 
Occupied SF based on commenced leases
 
# of properties and GLA differ from property list due to new development properties with no commenced leases and the combining of certain properties on the property list
 

 
 
Page 22

 

Weingarten Realty Investors
 
Property Listing at March 31, 2009
 
                               
         
Gross Leasable Area
 
   
# of
   
WRI
   
Joint Venture
   
Owned
       
ALL PROPERTIES BY STATE
 
Properties
   
Owned
   
Share
   
by Other
   
Total
 
Arizona
    25       2,427,226       -       1,191,002       3,618,228  
Arkansas
    3       357,740       -       -       357,740  
California
    29       3,847,980       863,693       551,607       5,263,280  
Colorado
    12       1,209,602       1,031,326       1,414,087       3,655,014  
Florida
    50       7,162,692       2,370,553       1,340,913       10,868,884  
Georgia
    23       3,279,275       877,503       716,003       4,872,781  
Illinois
    1       303,566       -       -       303,566  
Kansas
    2       250,855       -       -       250,855  
Kentucky
    4       609,265       -       122,454       731,719  
Louisiana
    12       1,203,980       435,491       781,925       2,421,396  
Maine
    1       148,384       49,461       -       197,845  
Missouri
    2       229,232       28,317       -       257,549  
Nevada
    12       2,532,900       -       625,737       3,158,637  
New Mexico
    6       815,498       -       401,750       1,217,248  
North Carolina
    26       2,632,967       211,569       742,374       3,586,910  
Oklahoma
    2       171,657       -       -       171,657  
Oregon
    3       119,939       90,927       62,600       273,466  
South Carolina
    1       21,530       64,590       -       86,120  
Tennessee
    9       1,191,269       671,047       137,740       2,000,056  
Texas
    166       17,046,532       5,344,353       3,059,187       25,450,068  
Utah
    4       306,638       60,772       296,357       663,767  
Virginia
    9       860,643       1,607,139       -       2,467,782  
Washington
    5       81,877       327,505       198,220       607,602  
Grand Total
    407       46,811,247       14,034,246       11,641,956       72,482,170  
                                         
Total Retail
    323       34,389,378       8,748,518       11,641,956       54,774,573  
                                         
Total Industrial
    81       12,140,298       5,285,728       -       17,426,026  
                                         
Total Other
    3       281,571       -       -       281,571  
                                         
                                         
Footnotes for detail property listing
                                       
(1)  Denotes partial ownership. The square feet figures represent WRI's proportionate ownership of the property held by the joint venture or partnership.
 
(2)  Denotes property currently under development.
 
(3)  Denotes properties that are not consolidated for SEC reporting purposes.
 
(+)  Denotes supermarket or discount store offering full service grocery along with general merchandise.
 
NOTE:  Square feet is reflective of area available to be leased. Certain listed properties may have additional square feet under WRI ownership.
 

 
Page 23

 
 
Weingarten Realty Investors
 
Property Listing at March 31, 2009
 
                     
Gross Leasable Area
 
           
WRI
           
Joint
 
Owned
     
Center
 
Location
 
Anchors
 
Owned
   
Foot
 
WRI
 
Venture
 
by
     
           
%
   
Notes
 
Owned
 
Share
 
Other
 
Total
 
Retail
                                   
Operating Properties
                                   
                                     
Arizona
                                   
Palmilla Center
 
Dysart Rd. at McDowell Rd., Avondale
 
Office Max, PetsMart, Dollar Tree, Fry’s Supermarket + (O.B.O.)
  100.00 %       103,568   0   65,574   169,142  
Raintree Ranch
 
Ray Road at Price Road, Chandler
 
Whole Foods +, Golf Galaxy
  100.00 %       136,230   0   0   136,230  
University Plaza
 
Plaza Way at Milton Rd., Flagstaff
 
PetsMart, Safeway +, Ross Dress for Less, Bed Bath & Beyond, Dollar Tree
  100.00 %       165,621   0   0   165,621  
Val Vista Towne Center
 
Warner at Val Vista Rd., Gilbert
 
Target (O.B.O.), Staples, Ross Dress for Less, Petco
  100.00 %       93,372   0   123,000   216,372  
Arrowhead Festival S.C.
 
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.)
  100.00 %       29,834   0   146,624   176,458  
Fry's Ellsworth Plaza
 
Broadway Rd. at Ellsworth Rd., Mesa
 
Fry’s Supermarket + (O.B.O.)
  100.00 %       9,034   0   64,574   73,608  
Monte Vista Village Center
 
Baseline Rd. at  Ellsworth Rd., Mesa
 
Safeway + (O.B.O.)
  100.00 %       45,751   0   58,400   104,151  
Red Mountain Gateway
 
Power Rd. at McKellips Rd., Mesa
 
Target (O.B.O.), Bed Bath & Beyond, Famous Footwear
  100.00 %       69,568   0   136,000   205,568  
Camelback Village Square
 
Camelback at 7th Avenue, Phoenix
 
Fry’s Supermarket +, Target (O.B.O.), Office Max
  100.00 %       134,494   0   100,000   234,494  
Laveen Village Market
 
Baseline Rd. at  51st St., Phoenix
 
Fry’s Supermarket + (O.B.O.), Home Depot (O.B.O.)
  100.00 %       40,025   0   71,619   111,644  
Rancho Encanto
 
35th Avenue at Greenway Rd., Phoenix
 
Blockbuster, Fresh N Easy +, Family Dollar
  100.00 %       66,837   0   0   66,837  
Squaw Peak Plaza
 
16th Street at Glendale Ave., Phoenix
 
Basha's +, Blockbuster
  100.00 %       61,060   0   0   61,060  
Fountain Plaza
 
77th St. at McDowell, Scottsdale
 
Fry’s Supermarket +, Dollar Tree, Lowes (O.B.O.)
  100.00 %       102,271   0   165,000   267,271  
Scottsdale Horizon
 
Frank Lloyd Wright Blvd and Thompson Peak Parkway, Scottsdale
 
Baja Fresh Mexican Grill
  100.00 %       10,337   0   0   10,337  
Basha's Valley Plaza
 
S. McClintock at E. Southern, Tempe
 
Basha’s +, Ross Dress for Less
  100.00 %       145,104   0   0   145,104  
Broadway Marketplace
 
Broadway at Rural, Tempe
 
Office Max, Ace Hardware
  100.00 %       82,757   0   0   82,757  
Pueblo Anozira
 
McClintock Dr. at Guadalupe Rd., Tempe
 
Fry’s Food & Drug +, Petco, Dollar Tree
  100.00 %       157,309   0   0   157,309  
Entrada de Oro
 
Magee Road and Oracle Road, Tucson
 
Wal-Mart Neighborhood Market +
  100.00 %       88,685   0   20,406   109,091  
Madera Village
 
Tanque Verde Rd. and Catalina Hwy, Tucson
 
Safeway +, Walgreen's, Dollar Tree
  100.00 %       96,732   0   10,594   107,326  
Oracle Crossings
 
Oracle Highway and Magee Road, Tucson
 
Kohl's, Sprouts Farmers Market +
  100.00 %       243,625   0   10,000   253,625  
Oracle Wetmore
 
Wetmore Road and Oracle Highway, Tucson
 
Home Depot, PetSmart, Walgreens
  100.00 %       256,093   0   0   256,093  
Shoppes at Bears Path
 
Tanque Verde Rd. and Bear Canyon Rd., Tucson
 
Osco Drug (O.B.O.), Carondelet Health Care Corp., Leslie Pools
  100.00 %       43,928   0   21,851   65,779  
                                     
Arizona Total:
 
# of Properties:  22
                2,182,235   0   993,642   3,175,877  
                                     
Arkansas
                                   
Markham Square
 
W. Markham at John Barrow, Little Rock
 
Burlington Coat Factory
  100.00 %       126,904   0   0   126,904  
Markham West
 
11400 W. Markham, Little Rock
 
Office Depot, Michael’s, Academy, Bassett Furniture, Dollar Tree
  100.00 %       178,210   0   0   178,210  
Westgate
 
Cantrell at Bryant, Little Rock
 
SteinMart
  100.00 %       52,626   0   0   52,626  
                                     
Arkansas Total:
 
# of Properties:  3
                357,740   0   0   357,740  
                                     
California
                                   
Centerwood Plaza
 
Lakewood Blvd. at Alondra Dr., Bellflower
 
Bestway Supermarket +, Buck-A-Roos
  100.00 %       75,500   0   0   75,500  
Southampton Center
 
IH-780 at Southampton Rd., Benecia
 
Raley’s +, Ace Hardware, Hollywood Video
  100.00 %       162,390   0   0   162,390  
580 Market Place
 
E. Castro Valley at Hwy. I-580, Castro Valley
 
P. W. Supermarkets +, Petco, 24 Hour Fitness
  100.00 %       100,165   0   0   100,165  
Chino Hills Marketplace
 
Chino Hills Pkwy. at Pipeline Ave., Chino Hills
 
Rite Aid, Von’s +, 24 Hour Fitness, Dollar Tree, Ace Hardware
  100.00 %       309,098   0   0   309,098  
Buena Vista Marketplace
 
Huntington Dr. at Buena Vista St., Duarte
 
Ralph's +
  100.00 %       90,805   0   0   90,805  
El Camino Promenade
 
El Camino Real at Via Molena, Encinitas
 
T.J. Maxx,  Beverages & More, Staples, Golf Galaxy, Dollar Tree
  100.00 %       129,753   0   0   129,753  
Fremont Gateway Plaza
 
Paseo Padre Pkwy. at Walnut Ave., Fremont
 
Raley’s +, NAZ Cinema, 24 Hour Fitness
  100.00 %       194,601   0   0   194,601  
Hallmark Town Center
 
W. Cleveland Ave. at Stephanie Ln., Madera
 
Food 4 Less + , Bally’s
  100.00 %       85,066   0   0   85,066  
Menifee Town Center
 
Antelope Rd. at Newport Rd., Menifee
 
Ralph's +, Target (O.B.O.), Ross Dress for Less
  100.00 %       124,494   0   124,303   248,797  
Marshalls Plaza
 
McHenry at Sylvan Ave., Modesto
 
Marshall’s, Dress Barn, Guitar Center
  100.00 %       78,752   0   0   78,752  
Prospectors Plaza
 
Missouri Flat Rd. at US Hwy. 50, Placerville
 
SaveMart +, Kmart, Long’s Drug Store
  100.00 %       228,345   0   0   228,345  
Shasta Crossroads
 
Churn Creek Rd. at Dana Dr., Redding
 
Food Maxx +, Target (O.B.O.), Sports Authority (O.B.O.), Ashley Furniture (O.B.O.)
  100.00 %       121,334   0   131,468   252,802  
Arcade Square
 
Watt Ave. at Whitney Ave., Sacramento
 
Grocery Outlet +
  100.00 %       76,497   0   0   76,497  

 

 
Page 24

 

Weingarten Realty Investors
 
Property Listing at March 31, 2009
 
                     
Gross Leasable Area
 
           
WRI
           
Joint
 
Owned
     
Center
 
Location
 
Anchors
 
Owned
   
Foot
 
WRI
 
Venture
 
by
     
           
%
   
Notes
 
Owned
 
Share
 
Other
 
Total
 
Discovery Plaza
 
W. El Camino Ave. at Truxel Rd., Sacramento
 
Bel Air Market +, Blockbuster
  100.00 %       93,398   0   0   93,398  
Summerhill Plaza
 
Antelope Rd. at Lichen Dr., Sacramento
 
Raley’s +
  100.00 %       133,614   0   0   133,614  
Valley
 
Franklin Boulevard and Mack Road, Sacramento
 
Raley's +
  100.00 %       98,240   0   5,365   103,605  
Silver Creek Plaza
 
E. Capital Expressway at Silver Creek Blvd., San Jose
 
Safeway +, Walgreen’s, Orchard Supply (O.B.O.)
  100.00 %       134,179   0   65,000   199,179  
Tully Corners Shopping Center
 
Tully Rd at Quimby Rd, San Jose
 
Food Maxx +, Petco
  10.00 %   (1)(3)   11,599   104,393   0   115,992  
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
  100.00 %       152,095   0   86,569   238,664  
Rancho San Marcos Village
 
San Marcos Blvd. at Rancho Santa Fe Rd., San Marcos
 
Von’s +, 24 Hour Fitness
  100.00 %       120,829   0   0   120,829  
San Marcos Plaza
 
San Marcos Blvd. at Rancho Santa Fe Rd., San Marcos
 
Albertsons + (O.B.O.)
  100.00 %       35,880   0   45,206   81,086  
Stony Point Plaza
 
Stony Point Rd. at Hwy. 12, Santa Rosa
 
Food Maxx +, Wal-Mart
  100.00 %       198,528   0   0   198,528  
Sunset Center
 
Sunset Ave. at State Hwy. 12, Suisun City
 
Rite Aid
  100.00 %       85,238   0   0   85,238  
Creekside Center
 
Alamo Dr. at Nut Creek Rd., Vacaville
 
Raley’s +, Blockbuster
  100.00 %       116,229   0   0   116,229  
Freedom Centre
 
Freedom Blvd. At Airport Blvd., Watsonville
 
Rite Aid, Big Lots, Safeway +, Ace Hardware
  100.00 %       150,241   0   0   150,241  
Westminster Center
 
Westminster Blvd. at Golden West St., Westminster
 
Albertsons +, Home Depot, Edward’s Cinema, Rite Aid, Petco, Ross Dress for Less
  100.00 %       417,870   0   0   417,870  
                                     
California Total:
 
# of Properties:  26
                3,524,740   104,393   457,911   4,087,044  
                                     
Colorado
                                   
Aurora City Place
 
E. Alameda at I225, Aurora
 
PetsMart, Sportsman Warehouse, Barnes & Noble, Ross Dress For Less, Super Target + (O.B.O.), Pier 1 Imports
  50.00 %   (1)(3)   182,642   182,642   182,000   547,283  
Academy Place
 
Academy Blvd. at Union Blvd., Colorado Springs
 
Safeway + (O.B.O.), Ross Dress For Less, Target (O.B.O.)
  100.00 %       84,057   0   206,586   290,643  
Uintah Gardens
 
NEC 19th St. at West Uintah, Colorado Springs
 
King Sooper’s +, Walgreens, Petco, Big 5 Sporting Goods
  100.00 %       212,638   0   0   212,638  
Green Valley Ranch Towne Center
 
Tower Rd. at 48th Ave., Denver
 
King Sooper’s + (O.B.O.)
  50.00 %   (1)(3)   27,503   27,503   58,000   113,006  
Lowry Town Center
 
2nd Ave. at Lowry Ave., Denver
 
Albertsons + (O.B.O.)
  50.00 %   (1)(3)   38,370   38,370   52,700   129,439  
CityCenter Englewood
 
S. Santa Fe at Hampden Ave., Englewood
 
Wal-Mart (O.B.O.), Ross Dress for Less, Gart Sports, Office Depot, Bally Total Fitness, Petco
  51.00 %   (1)(3)   137,977   132,566   90,000   360,543  
Glenwood Meadows
 
Midland Ave. at W. Meadows, Glenwood Springs
 
Target (O.B.O.), Pier 1 Imports, The Sports Authority, Bed Bath & Beyond, Petco, Lowe's
  41.00 %   (1)(3)   110,940   159,646   125,174   395,760  
Crossing at Stonegate
 
Jordon Rd. at Lincoln Ave., Parker
 
King Sooper’s +
  51.00 %   (1)(3)   55,620   53,438   0   109,058  
Thorncreek Crossing
 
Washington St. at 120th St., Thornton
 
Super Target + (O.B.O.), Barnes & Noble, Office Max, Michael’s, Pier 1 Imports, Cost Plus
  51.00 %   (1)(3)   108,186   103,944   174,000   386,130  
Westminster Plaza
 
North Federal Blvd. at 72nd Ave., Westminster
 
Safeway +, Walgreens (O.B.O.)
  50.00 %   (1)   48,521   48,521   56,127   153,169  
                                     
Colorado Total:
 
# of Properties:  10
                1,006,454   746,630   944,587   2,697,669  
                                     
Florida
                                   
Boca Lyons
 
Glades Rd. at Lyons Rd., Boca Raton
 
Ross Dress for Less, Ethan Allen
  100.00 %       113,689   0   0   113,689  
Countryside Centre
 
US Highway 19 at Countryside Boulevard
 
Publix +, T.J. Maxx, Home Goods
  100.00 %       242,123   0   0   242,123  
Sunset 19
 
US Hwy. 19 at Sunset Pointe Rd., Clearwater
 
Publix +, Bed Bath & Beyond, Staples, Comp USA, Barnes & Noble, Sports Authority, Old Navy
  100.00 %       275,910   0   0   275,910  
Embassy Lakes
 
Sheraton St. at Hiatus Rd., Cooper City
 
Winn Dixie +, Walgreen’s, Tuesday Morning
  100.00 %       127,900   0   48,214   176,114  
Paradise Key at Kelly Plantation
 
US Highway 98 and Mid Bay Bridge Rd, Destin
 
Publix +, Bed Bath & Beyond, Ross, Old Navy, SteinMart
  10.00 %   (1)(3)   27,178   244,599   0   271,777  
Shoppes at Paradise Isle
 
34940 Emerald Coast Pkwy, Destin
 
Best Buy,  Michaels, Office Depot, PetsMart
  25.00 %   (1)(3)   42,959   128,878   0   171,837  
Hollywood Hills Plaza
 
Hollywood Blvd. at North Park Rd., Hollywood
 
Publix +, Target, CVS/pharmacy
  100.00 %       364,714   0   0   364,714  
Indian Harbour Place
 
East Eau Gallie Boulevard, Indian Harbour Beach
 
Beall's, Publix +
  25.00 %   (1)(3)   40,880   122,641   0   163,521  
Argyle Village
 
Blanding at Argyle Forest Blvd., Jacksonville
 
Bed Bath & Beyond, Publix +, T.J. Maxx, Babies “R” Us, Jo-Ann’s Fabrics, Michael's
  100.00 %       312,447   0   0   312,447  
TJ Maxx Plaza
 
117th Avenue at Sunset Blvd., Kendall
 
T.J. Maxx, Winn Dixie +
  100.00 %       161,572   0   0   161,572  
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.)
  100.00 %       377,719   0   197,631   575,350  


 
Page 25

 

Weingarten Realty Investors
 
Property Listing at March 31, 2009
 
                     
Gross Leasable Area
 
           
WRI
           
Joint
 
Owned
     
Center
 
Location
 
Anchors
 
Owned
   
Foot
 
WRI
 
Venture
 
by
     
           
%
   
Notes
 
Owned
 
Share
 
Other
 
Total
 
Palm Lakes Plaza
 
Atlantic Boulevard and Rock Island Road, Maragate
 
Publix +, CVS/pharmacy
  20.00 %   (1)(3)   22,750   91,002   0   113,752  
Lake Washington Crossing
 
Wickham Rd. at Lake Washington Rd., Melbourne
 
Publix +, Beall’s Outlet Stores
  25.00 %   (1)(3)   29,707   89,121   0   118,828  
Lake Washington Square
 
Wickham Rd. at Lake Washington Rd., Melbourne
 
Albertsons +, Tuesday Morning
  100.00 %       111,811   0   0   111,811  
Kendall Corners
 
Kendall Drive and SW 127th Avenue, Miami
 
Ashley Furniture
  20.00 %   (1)(3)   19,303   77,212   0   96,515  
South Dade
 
South Dixie Highway and Eureka Drive, Miami
 
Publix +, Petco, Chuck E. Cheese, Bed Bath & Beyond
  20.00 %   (1)(3)   43,895   175,578   0   219,473  
Tamiami Trail Shops
 
S.W. 8th St. at S.W. 137th Ave., Miami
 
Publix +, CVS/pharmacy
  100.00 %       110,867   0   0   110,867  
Northridge
 
E. Commercial Blvd. at Dixie Hwy., Oakland Park
 
Publix +, Petco, Ross Dress for Less, Anna's Linens
  100.00 %       236,170   0   0   236,170  
Colonial Landing
 
East Colonial Dr. at Maguire Boulevard, Orlando
 
Bed Bath & Beyond, PetsMart, Jo Ann Fabrics, Sports Authority, HH Gregg
  50.00 %   (1)   131,634   131,634   0   263,267  
Colonial Plaza
 
E. Colonial Dr. at Primrose Dr., Orlando
 
Staples, Ross Dress for Less, Babies “R” Us, Marshall’s, Old Navy, SteinMart, Barnes & Noble, Petco
  100.00 %       496,751   0   0   496,751  
International Drive Value Center
 
International Drive and Touchstone Drive, Orlando
 
Bed Bath & Beyond, Ross Dress for Less, T.J. Maxx
  20.00 %   (1)(3)   37,133   148,531   0   185,664  
Market at Southside
 
Michigan Ave. at Delaney Ave., Orlando
 
Ross Dress for Less, Beall’s Outlet Stores, Dollar Tree, Albertsons + (O.B.O.)
  100.00 %       95,208   0   64,627   159,835  
The Marketplace at Dr. Phillips
 
Dr. Phillips Boulevard and Sand Lake Road, Orlando
 
Publix +, Stein Mart, Office Depot, Home Goods, Morton's of Chicago
  20.00 %   (1)(3)   65,250   261,000   0   326,250  
The Shoppes at South Semoran
 
Semoran Blvd. at Pershing Ave.
 
Save Rite +
  100.00 %       101,535   0   0   101,535  
Westland Terrace Plaza
 
SR 50 at Apopka Vineland Rd., Orlando
 
T.J. Maxx, Petco, Shoe Carnival, Super Target + (O.B.O.)
  100.00 %       77,521   0   183,000   260,521  
Alafaya Square
 
Alafaya Trail, Oviedo
 
Publix +
  20.00 %   (1)(3)   35,297   141,189   0   176,486  
University Palms
 
Alafaya Trail at McCullough Rd., Oviedo
 
Publix +, Blockbuster
  30.00 %   (1)   29,752   69,420   0   99,172  
East Lake Woodlands
 
East Lake Road and Tampa Road, Palm Harbor
 
Publix +, Walgreens
  20.00 %   (1)(3)   28,021   112,082   0   140,103  
Shoppes at Parkland
 
Hillsboro Boulevard at State Road #7, Parkland
 
BJ's Wholesale Club +
  30.00 %   (1)   45,616   106,436   0   152,052  
Flamingo Pines
 
Pines Blvd. at Flamingo Rd., Pembroke Pines
 
Publix +, U.S. Post Office, Keiser College
  100.00 %       262,761   0   105,350   368,111  
Pembroke Commons
 
University at Pines Blvd., Pembroke Pines
 
Publix +, Marshall’s, Office Depot, LA Fitness
  100.00 %       314,401   0   0   314,401  
Publix at Laguna Isles
 
Sheridan St. at SW 196th Ave., Pembroke Pines
 
Publix +
  100.00 %       69,475   0   0   69,475  
Vizcaya Square
 
Nob Hill Rd. at Cleary Blvd., Plantation
 
Winn Dixie +, Blockbuster
  100.00 %       112,410   0   0   112,410  
Quesada Commons
 
Quesada Avenue and Toledo Blade Boulevard, Port Charlotte
 
Publix +
  25.00 %   (1)(3)   14,722   44,168   0   58,890  
Shoppes of Port Charlotte
 
Toledo Blade Boulevard and Tamiami Trail, Port Charlotte
 
Petco
  25.00 %   (1)(3)   10,253   30,758   0   41,011  
Shoppes of Port Charlotte
 
Toledo Blade Boulevard and Tamiami Trail, Port Charlotte
 
Chick-Fil-A
  25.00 %   (1)(3)   978   2,934   0   3,912  
Marketplace at Seminole Towne Center
 
Central Florida Greenway and Rinehart Road, Sanford
 
Sports Authority, DSW, Marshalls, Old Navy, Petco, Cost Plus, Super Target + (O.B.O.)
  100.00 %       308,751   0   185,000   493,751  
Pineapple Commons
 
Us Highway 1 and Britt Rd., Stuart
 
Best Buy, Ross Dress for Less, PetsMart, Ashley Furniture
  20.00 %   (1)(3)   49,803   199,211   0   249,014  
Sunrise West Shopping Center
 
West Commercial Drive and NW 91st Avenue, Sunrise
 
Publix +
  25.00 %   (1)(3)   19,080   57,241   0   76,321  
Venice Pines
 
Center Rd. at Jacaranda Blvd., Venice
 
Sweet Bay +
  100.00 %       97,303   0   0   97,303  
Winter Park Corners
 
Aloma Ave. at Lakemont Ave., Winter Park
 
Whole Foods Market +, Outback Steakhouse
  100.00 %       102,397   0   0   102,397  
                                     
Florida Total:
 
# of Properties:  40
                5,167,646   2,233,635   783,822   8,185,102  
                                     
Georgia
                                   
Lakeside Marketplace
 
Cobb Parkway (US Hwy 41), Acworth
 
Ross Dress for Less, Petco, Office Max, Books-A-Million, Super Target + (O.B.O.)
  100.00 %       147,688   0   174,000   321,688  
Mansell Crossing
 
North Point Parkway at Mansell Rd
 
Ross Dress for Less, Bed Bath & Beyond, Rooms to Go
  20.00 %   (1)(3)   20,586   82,345   0   102,931  
Camp Creek Marketplace II
 
Camp Creek Parkway and Carmla Drive, Atlanta
 
DSW, American Signature, LA Fitness
  100.00 %       196,283   0   0   196,283  
Cherokee Plaza
 
Peachtree Road and Colonial Drive, Atlanta
 
Kroger +
  30.00 %   (1)   29,566   68,987   0   98,553  
Perimeter Village
 
Ashford-Dunwoody Rd
 
Wal-Mart Supercenter +, Cost Plus World Market, DSW, Borders, Hobby Lobby
  100.00 %       387,755   0   0   387,755  
Publix at Princeton Lakes
 
Carmia Drive and Camp Creek Drive, Atlanta
 
Publix +, Wachovia (O.B.O.)
  100.00 %       68,407   0   0   68,407  
Brookwood Square
 
East-West Connector at Austell Rd., Austell
 
Marshall’s, Staples, Home Depot
  100.00 %       253,448   0   0   253,448  


 
Page 26

 

Weingarten Realty Investors
 
Property Listing at March 31, 2009
 
                     
Gross Leasable Area
 
           
WRI
           
Joint
 
Owned
     
Center
 
Location
 
Anchors
 
Owned
   
Foot
 
WRI
 
Venture
 
by
     
           
%
   
Notes
 
Owned
 
Share
 
Other
 
Total
 
Dallas Commons
 
US Highway 278 and Nathan Dean Boulevard, Dallas
 
Kroger + (O.B.O.)
  100.00 %       25,158   0   70,104   95,262  
Reynolds Crossing
 
Steve Reynolds and Old North Cross Rd., Duluth
 
Kroger + (O.B.O.)
  100.00 %       45,758   0   70,225   115,983  
Thompson Bridge Commons
 
Thompson Bridge Rd. at Mt. Vernon Rd., Gainesville
 
Kroger +
  30.00 %   (1)   27,776   64,811   0   92,587  
Grayson Commons
 
Grayson Hwy at Rosebud Rd., Grayson
 
Kroger +
  100.00 %       76,611   0   0   76,611  
Sandy Plains Exchange
 
Sandy Plains at Scufflegrit, Marietta
 
Publix +
  30.00 %   (1)   21,835   50,949   0   72,784  
Brownsville Commons
 
Brownsville Road and Hiram-Lithia Springs Road, Powder Springs
 
Kroger + (O.B.O.)
  100.00 %       27,747   0   54,139   81,886  
Roswell Corners
 
Woodstock Rd. at Hardscrabble Rd., Roswell
 
Staples, T.J. Maxx, Super Target + (O.B.O.)
  100.00 %       144,964   0   173,535   318,499  
Brookwood Marketplace
 
Peachtree Parkway at Mathis Airport Rd., Suwannee
 
Office Max, Home Depot, Bed Bath & Beyond, Super Target + (O.B.O.)
  100.00 %       196,134   0   174,000   370,134  
                                     
Georgia Total:
 
# of Properties:  15
                1,669,716   267,092   716,003   2,652,811  
                                     
Illinois
                                   
Burbank Station
 
S. Cicero Ave. at W. 78th St.
 
Babies "R" Us, Food For Less +, AJ Wright, Office Max, The Sports Authority, Petsmart
  100.00 %       303,566   0   0   303,566  
                                     
Illinois Total:
 
# of Properties:  1
                303,566   0   0   303,566  
                                     
Kansas
                                   
Shawnee Village
 
Shawnee Mission Pkwy. at Quivera Rd., Shawnee
 
Burlington Coat Factory
  100.00 %       135,139   0   0   135,139  
Kohl's
 
Wanamaker Rd. at S.W. 17th St., Topeka
 
Barnes & Noble, Kohl’s Department Store
  100.00 %       115,716   0   0   115,716  
                                     
Kansas Total:
 
# of Properties:  2
                250,855   0   0   250,855  
                                     
Kentucky
                                   
Millpond Center
 
Boston at Man O’War, Lexington
 
Kroger +
  100.00 %       124,567   0   27,000   151,567  
Regency Shopping Centre
 
Nicholasville Rd.& West Lowry Lane, Lexington
 
TJ Maxx, Michael's, Kroger + (O.B.O)
  100.00 %       136,262   0   46,044   182,306  
Tates Creek
 
Tates Creek at Man O’ War, Lexington
 
Kroger +, Rite Aid
  100.00 %       179,450   0   0   179,450  
Festival at Jefferson Court
 
Outer Loop at Jefferson Blvd., Louisville
 
Kroger +, PetsMart (O.B.O.), Factory Card Outlet, AJ Wright (O.B.O.)
  100.00 %       168,986   0   49,410   218,396  
                                     
Kentucky Total:
 
# of Properties:  4
                609,265   0   122,454   731,719  
                                     
Louisiana
                                   
Town & Country Plaza
 
U.S. Hwy. 190 West, Hammond
 
Winn Dixie +, Office Depot, CVS/pharmacy, Anna's Linens
  100.00 %       226,102   0   0   226,102  
Manhattan Place
 
Manhattan Blvd. at Gretna Blvd., Harvey
 
Target (O.B.O.), Ross Dress for Less, Stage, K&G Fashion
  100.00 %       156,215   0   125,400   281,615  
Ambassador Plaza
 
Ambassador Caffery at W. Congress, Lafayette
 
Albertsons + (O.B.O.), Blockbuster
  100.00 %       0   0   101,950   101,950  
River Marketplace
 
Ambassador Caffery at Kaliste Saloom, Lafayette
 
Ross Dress for Less, Stage, Cost Plus, Super Target + (O.B.O.), Books A Million, Citi Trends
  7.80 %   (1)(3)   34,327   147,100   174,700   356,127  
Westwood Village
 
W. Congress at Bertrand, Lafayette
 
Stage, Graham Central Station
  100.00 %       141,346   0   0   141,346  
14/Park Plaza
 
Hwy. 14 at General Doolittle, Lake Charles
 
Kroger +, Conn’s, Burke's Outlet, Anna's Linens, Family Dollar
  100.00 %       172,068   0   0   172,068  
K-Mart Plaza
 
Ryan St., Lake Charles
 
Albertsons +, Kmart, Stage
  50.00 %   (1)(3)   107,974   107,974   0   215,948  
Prien Lake Plaza
 
Prien Lake Rd. at Nelson Rd., Lake Charles
 
Target (O.B.O.), Marshall’s (O.B.O.), Ross Dress for Less (O.B.O.), Bed Bath & Beyond (O.B.O.)
  100.00 %       7,743   0   205,375   213,118  
Southgate
 
Ryan at Eddy, Lake Charles
 
Market Basket +, Office Depot, Books-A-Million
  100.00 %       170,588   0   0   170,588  
Danville Plaza
 
Louisville at 19th, Monroe
 
County Market +, Citi Trends, Surplus Warehouse
  100.00 %       141,380   0   0   141,380  
Orleans Station
 
Paris, Robert E. Lee at Chatham, New Orleans
 
Vacant
  100.00 %       0   0   0   0  
University Place
 
70th St. at Youree Dr., Shreveport
 
Super Target + (O.B.O.), Best Buy, T.J. Maxx, CVS/pharmacy (O.B.O), Bed Bath & Beyond
  20.40 %   (1)(3)   46,237   180,417   174,500   401,154  
                                     
Louisiana Total:
 
# of Properties:  12
                1,203,980   435,491   781,925   2,421,396  
                                     
Maine
                                   
The Promenade
 
Essex at Summit, Lewiston
 
Staples, Flagship Cinemas
  75.00 %   (1)   148,384   49,461   0   197,845  
                                     
Maine Total:
 
# of Properties:  1
                148,384   49,461   0   197,845  


 
Page 27

 

Weingarten Realty Investors
 
Property Listing at March 31, 2009
 
                     
Gross Leasable Area
 
           
WRI
           
Joint
 
Owned
     
Center
 
Location
 
Anchors
 
Owned
   
Foot
 
WRI
 
Venture
 
by
     
           
%
   
Notes
 
Owned
 
Share
 
Other
 
Total
 
Missouri
                                   
Ballwin Plaza
 
Manchester Rd. at Vlasis Dr., Ballwin
 
Schnucks +, Michael’s, Sears
  100.00 %       200,915   0   0   200,915  
Western Plaza
 
Hwy 141 at Hwy 30, Fenton
 
O'Reilly Automotive
  50.00 %   (1)(3)   28,317   28,317   0   56,634  
                                     
Missouri Total:
 
# of Properties:  2
                229,232   28,317   0   257,549  
                                     
Nevada
                                   
Eastern Horizon
 
Eastern Ave. at  Horizon Ridge Pkwy., Henderson
 
Kmart + (O.B.O.)
  100.00 %       66,408   0   143,879   210,287  
Best in the West
 
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, The Sports Authority, Ulta, DSW
  100.00 %       436,814   0   0   436,814  
Charleston Commons
 
Charleston and Nellis, Las Vegas
 
Wal-Mart +, Ross, Office Max, 99 Cents Only, PetsMart
  100.00 %       338,378   0   0   338,378  
College Park S.C.
 
E. Lake Mead Blvd. at Civic Ctr. Dr., North Las Vegas
 
Albertson's +, Sav-On Drugs, Anna's Linens, Factory 2 U
  100.00 %       167,654   0   0   167,654  
Francisco Centre
 
E. Desert Inn Rd. at S. Eastern Ave., Las Vegas
 
Ross Dress for Less (O.B.O.), Fallas Paredes , La Bonita Grocery +
  100.00 %       116,973   0   31,842   148,815  
Mission Center
 
Flamingo Rd. at Maryland Pkwy, Las Vegas
 
Sav-On Drug-CVS (O.B.O.), Albertsons + (O.B.O.), Toys “R” Us, T.J. Maxx
  100.00 %       152,475   0   55,745   208,220  
Paradise Marketplace
 
Flamingo Rd. at Sandhill, Las Vegas
 
Smith’s Food +, Dollar Tree
  100.00 %       148,713   0   0   148,713  
Rainbow Plaza
 
Rainbow Blvd. at Charleston Blvd., Las Vegas
 
Albertsons +, JC Penney, Ultimate Electronics, Home Depot, 24 Hour Fitness
  100.00 %       278,416   0   0   278,416  
Rainbow Plaza, Phase I
 
Rainbow Blvd. at Charleston Blvd., Las Vegas
 
Albertsons +, JC Penney, Ultimate Electronics, Home Depot, 24 Hour Fitness
  100.00 %       136,369   0   0   136,369  
Rancho Towne & Country
 
Rainbow Blvd. at Charleston Blvd., Las Vegas
 
Smith’s Food +
  100.00 %       87,367   0   0   87,367  
Tropicana Beltway
 
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, Pier 1 Imports
  100.00 %       246,478   0   394,271   640,749  
Tropicana Marketplace
 
Tropicana at Jones Blvd., Las Vegas
 
Smith’s Food +, Family Dollar
  100.00 %       142,728   0   0   142,728  
Westland Fair North
 
Charleston Blvd. At Decatur Blvd., Las Vegas
 
Wal-Mart Supercenter + (O.B.O.), Lowe’s (O.B.O.), PetsMart, Office Depot, Michaels, Anna's Linens
  100.00 %       214,127   0   0   214,127  
                                     
Nevada Total:
 
# of Properties:  12
                2,532,900   0   625,737   3,158,637  
                                     
New Mexico
                                   
Eastdale
 
Candelaria Rd. at Eubank Blvd., Albuquerque
 
Albertsons +, Family Dollar
  100.00 %       117,623   0   0   117,623  
North Towne Plaza
 
Academy Rd. at Wyoming Blvd., Albuquerque
 
Whole Foods Market +, Borders
  100.00 %       104,034   0   0   104,034  
Pavillions at San Mateo
 
I-40 at San Mateo, Albuquerque
 
Old Navy, Shoe Department, Skechers
  100.00 %       195,944   0   0   195,944  
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.), Party City
  100.00 %       84,322   0   334,000   418,322  
Wyoming Mall
 
Academy Rd. at Northeastern, Albuquerque
 
Wal-Mart Supercenter +, Dollar Tree
  100.00 %       63,904   0   0   63,904  
De Vargas
 
N. Guadalupe at Paseo de Peralta, Santa Fe
 
Albertsons + (O.B.O.), Sunflower Farmer's Market +, Sav-On (CVS), Ross Dress for Less, Office Depot, Hastings, United Artists
  100.00 %       249,671   0   67,750   317,421  
                                     
New Mexico Total:
 
# of Properties:  6
                815,498   0   401,750   1,217,248  
                                     
North Carolina
                                   
Capital Square
 
Capital Blvd. at Huntleigh Dr., Cary
 
Food Lion +
  100.00 %       143,063   0   0   143,063  
Harrison Pointe
 
Harrison Ave. at Maynard Rd., Cary
 
Harris Teeter +, Staples
  100.00 %       130,934   0   0   130,934  
High House Crossing
 
NC Hwy 55 at Green Level W. Rd., Cary
 
Harris Teeter +
  100.00 %       89,997   0   0   89,997  
Northwoods Market
 
Maynard Rd. at Harrison Ave., Cary
 
Food Lion +
  100.00 %       77,802   0   0   77,802  
Parkway Pointe
 
Cory Parkway at S. R. 1011, Cary
 
Food Lion +, Rite-Aid
  100.00 %       80,061   0   0   80,061  
Chatham Crossing
 
US 15/501 at Plaza Dr., Chapel Hill
 
Lowes Food +, CVS/pharmacy
  25.00 %   (1)(3)   24,039   72,116   0   96,155  
Cole Park Plaza
 
US 15/501 and Plaza Dr., Chapel Hill
 
Dollar General
  25.00 %   (1)(3)   20,564   61,694   0   82,258  
Galleria
 
Galleria Boulevard and Sardis Road, Charlotte
 
Off Broadway Shoes, Wal-Mart (O.B.O.)
  100.00 %       120,542   0   207,602   328,144  
Johnston Road Plaza
 
Johnston Rd. at McMullen Creek Pkwy., Charlotte
 
Food Lion+
  100.00 %       79,508   0   0   79,508  
Steele Creek Crossing
 
York Rd. at Steele Creek Rd., Charlotte
 
BI-LO +, Rite-Aid
  100.00 %       77,301   0   0   77,301  
Whitehall Commons
 
NWC of Hwy. 49 at I-485, Charlotte
 
Blockbuster, Wal-Mart Supercenter + (O.B.O.), Lowes (O.B.O.), BI-LO + (O.B.O.)
  100.00 %       41,876   0   402,620   444,496  
Bull City Market
 
Broad St. at West Main St., Durham
 
Whole Foods Market +
  100.00 %       42,517   0   0   42,517  
Durham Festival
 
Hillsborough Rd. at LaSalle St., Durham
 
Kroger +, Dollar General
  100.00 %       134,295   0   0   134,295  


 
Page 28

 
 
Weingarten Realty Investors
 
Property Listing at March 31, 2009
 
                     
Gross Leasable Area
 
           
WRI
           
Joint
 
Owned
     
Center
 
Location
 
Anchors
 
Owned
   
Foot
 
WRI
 
Venture
 
by
     
           
%
   
Notes
 
Owned
 
Share
 
Other
 
Total
 
Mineral Springs Village
 
Mineral Springs Rd. at Wake Forest Rd., Durham
 
Food Lion +, Rite-Aid
  100.00 %       59,859   0   0   59,859  
Ravenstone Commons
 
Hwy 98 at Sherron Rd., Durham
 
Food Lion +, Blockbuster
  100.00 %       60,424   0   0   60,424  
Pinecrest Plaza
 
Hwy. 15-501 at Morganton Rd., Pinehurst
 
Food Lion +, Michael’s, Belk’s
  100.00 %       250,140   0   0   250,140  
Avent Ferry
 
Avent Ferry Rd. at Gorman St., Raleigh
 
Food Lion +, Family Dollar
  100.00 %       111,650   0   0   111,650  
Falls Pointe
 
Neuce Rd. at Durant Rd., Raleigh
 
Harris Teeter +, Kohl’s (O.B.O.)
  100.00 %       106,981   0   86,350   193,331  
Leesville Town Centre
 
Leesville Rd. at Leesville Church Rd., Raleigh
 
Harris Teeter +, Rite-Aid
  100.00 %       112,576   0   0   112,576  
Little Brier Creek
 
Little Brier Creek Lane and Brier Leaf Lane, Raleigh
 
Lowe's Food + (O.B.O.)
  100.00 %       17,209   0   45,802   63,011  
Lynnwood Collection
 
Creedmoor Rd at Lynn Road, Raleigh
 
Kroger  +
  100.00 %       86,362   0   0   86,362  
Six Forks Station
 
Six Forks Rd. at Strickland Rd., Raleigh
 
Kmart, Home Depot, Food Lion +, Bed Bath & Beyond, Borders
  100.00 %       467,270   0   0   467,270  
Stonehenge Market
 
Creedmoor Rd. at Bridgeport Dr., Raleigh
 
Harris Teeter +, SteinMart, Eckerd’s
  100.00 %       188,521   0   0   188,521  
Heritage Station
 
Forestville Rd. at Rogers Rd., Wake Forest
 
Harris Teeter +
  30.00 %   (1)   20,633   48,145   0   68,778  
                                     
North Carolina Total:
 
# of Properties:  24
                2,544,124   181,955   742,374   3,468,453  
                                     
Oklahoma
                                   
Market Boulevard
 
E. Reno Ave. at N. Douglas Ave., Midwest City
 
Color Tyme
  100.00 %       35,765   0   0   35,765  
Town and Country
 
Reno Ave at North Air Depot, Midwest City
 
Office Depot, Big Lots, Westlake Hardware
  100.00 %       135,892   0   0   135,892  
                                     
Oklahoma Total:
 
# of Properties:  2
                171,657   0   0   171,657  
                                     
Oregon
                                   
Clackamas Square
 
SE 82nd Avenue and SE Causey Avenue, Portland
 
T.J. Maxx, Winco Foods + (O.B.O.)
  20.00 %   (1)(3)   14,828   59,311   62,600   136,739  
Oak Grove Market Center
 
SE Mcloughlin Blvd & Oak Grove Ave
 
Safeway +
  100.00 %       97,207   0   0   97,207  
Raleigh Hills Plaza
 
SW Beaverton-Hillsdale Hwy and SW Scholls Ferry Road, Portland
 
Walgreens, New Seasons Market +
  20.00 %   (1)(3)   7,904   31,616   0   39,520  
                                     
Oregon Total:
 
# of Properties:  3
                119,939   90,927   62,600   273,466  
                                     
South Carolina
                                   
Fresh Market Shoppes
 
890 William Hilton Head Pkwy, Hilton Head
 
The Fresh Market +
  25.00 %   (1)(3)   21,530   64,590   0   86,120  
                                     
South Carolina Total:
 
# of Properties:  1
                21,530   64,590   0   86,120  
                                     
Tennessee
                                   
Bartlett Towne Center
 
Bartlett Blvd. at Stage Rd., Bartlett
 
Kroger +, Petco,  Dollar Tree, Shoe Carnival
  100.00 %       179,364   0   0   179,364  
Commons at Dexter Lake
 
Dexter at N. Germantown, Memphis
 
Kroger +, SteinMart, Marshall’s, Samuels Furniture and Interior
  30.00 %   (1)   50,087   116,871   0   166,958  
Commons at Dexter Lake Phase II
 
Dexter at N. Germantown, Memphis
 
Kroger +, SteinMart, Marshall’s, Samuels Furniture and Interior
  30.00 %   (1)   18,461   43,077   0   61,538  
Highland Square
 
Summer at Highland, Memphis
 
Walgreen’s
  100.00 %       14,490   0   0   14,490  
Mendenhall Commons
 
South Mendenahall Rd. and Sanderlin Avenue, Memphis
 
Kroger +
  30.00 %   (1)   23,961   55,910   0   79,871  
Summer Center
 
Summer Ave. at Waring Rd., Memphis
 
Kroger +, Ross Dress for Less
  100.00 %       148,581   0   0   148,581  
                                     
Tennessee Total:
 
# of Properties:  5
                434,944   215,858   0   650,802  
                                     
Texas
                                   
Bell Plaza
 
45th Ave. at Bell St., Amarillo
 
United Supermarket +, Dollar Tree
  15.00 %   (1)   19,579   110,950   0   130,529  
Coronado
 
34th St. at Wimberly Dr., Amarillo
 
Blockbuster
  100.00 %       46,829   0   0   46,829  
Wolflin Village
 
Wolflin Ave. at Georgia St., Amarillo
 
Office Depot, Sheplers Western Wear, Talbots
  100.00 %       159,284   0   0   159,284  
Calder
 
Calder at 24th St., Beaumont
 
Harmony Science Academy
  100.00 %       34,641   0   0   34,641  
North Park Plaza
 
Eastex Fwy. at Dowlen, Beaumont
 
Target (O.B.O.), Anna’s Linens, David’s Bridal, Toys “R” Us (O.B.O.)
  50.00 %   (1)(3)   70,036   70,036   141,329   281,401  
Phelan
 
Phelan at 23rd St, Beaumont
 
Kroger + (O.B.O.)
  100.00 %       12,000   0   0   12,000  
Phelan West
 
Phelan at 23rd St., Beaumont
 
Kroger + (O.B.O.)
  66.70 %   (1)(3)   15,552   7,779   58,890   82,221  
Southgate
 
Calder Ave. at 6th St., Beaumont
 
Control Fluids
  100.00 %       33,555   0   0   33,555  
Westmont
 
Dowlen at Phelan, Beaumont
 
Talbot’s
  100.00 %       98,071   0   0   98,071  
Lone Star Pavilions
 
Texas at Lincoln Ave., College Station
 
Best Buy, Office Depot, Barnes & Noble
  100.00 %       106,907   0   0   106,907  


 
Page 29

 
 
Weingarten Realty Investors
 
Property Listing at March 31, 2009
 
                     
Gross Leasable Area
 
           
WRI
           
Joint
 
Owned
     
Center
 
Location
 
Anchors
 
Owned
   
Foot
 
WRI
 
Venture
 
by
     
           
%
   
Notes
 
Owned
 
Share
 
Other
 
Total
 
Montgomery Plaza
 
Loop 336 West at I-45, Conroe
 
Academy, Conn’s, 99 Cents Only, Petco, Anna's Linens, Spec's
  100.00 %       296,837   0   0   296,837  
Moore Plaza
 
S. Padre Island Dr. at Staples, Corpus Christi
 
Office Depot, Marshall’s, H. E. B. +, (O.B.O.), Target (O.B.O.), Old Navy, Hobby Lobby
  100.00 %       371,668   0   161,909   533,577  
Portairs
 
Ayers St. at Horne Rd., Corpus Christi
 
CVS/pharmacy, Family Dollar, Beall’s
  100.00 %       118,233   0   0   118,233  
Overton Park Plaza
 
SW Loop 820/Interstate 20 at South Hulen St., Ft. Worth
 
Sports Authority, PetsMart, Office Depot, T.J. Maxx, Albertson's +, Home Depot (O.B.O.), Anna’s Linens
  100.00 %       353,302   0   110,000   463,302  
Broadway
 
Broadway at 59th St., Galveston
 
Big Lots, Family Dollar
  15.00 %   (1)   11,172   63,305   0   74,477  
Food King Place
 
25th St. at Avenue P, Galveston
 
Vacant
  100.00 %       28,062   0   0   28,062  
Galveston Place
 
Central City Blvd. at 61st St., Galveston
 
Randall’s +, Office Depot, Spec's Liquor, Palais Royal
  100.00 %       210,187   0   0   210,187  
10/Federal
 
I-10 at Federal
 
Citi Trends, Palais Royal, Sellers Bros. +
  15.00 %   (1)   19,871   112,601   0   132,472  
Alabama-Shepherd
 
S. Shepherd at W. Alabama
 
Bookstop, PetsMart
  100.00 %       56,110   0   0   56,110  
Bayshore Plaza
 
Spencer Hwy. at Burke Rd.
 
Fitness Connections (O.B.O.)
  100.00 %       35,966   0   86,000   121,966  
Bellaire Boulevard
 
Bellaire at S. Rice
 
Randall’s +
  30.00 %   (1)   10,524   24,557   0   35,081  
Braeswood Square
 
N. Braeswood at Chimney Rock
 
Belden’s +, Walgreen’s
  100.00 %       103,336   0   0   103,336  
Centre at Post Oak
 
Westheimer at Post Oak Blvd.
 
Marshall’s, Barnes & Noble, Old Navy, Grand Lux Café
  100.00 %       182,070   0   0   182,070  
Champions Village
 
F.M. 1960 at Champions Forest Dr.
 
Randall’s +, SteinMart, Palais Royal, Cost Plus, Barnes & Noble
  30.00 %   (1)   115,374   269,207   0   384,581  
Cullen Center
 
Cullen at Reed
 
Beauty Supply
  100.00 %       7,316   0   0   7,316  
Cullen Plaza
 
Cullen at Wilmington
 
Fiesta +, JPMorgan Chase Bank, Family Dollar
  15.00 %   (1)   12,678   71,839   0   84,517  
Cypress Pointe
 
F.M. 1960 at Cypress Station
 
Kroger +, Office Depot, Babies “R” Us, America's Furniture Brands (O.B.O.)
  100.00 %       190,704   0   96,660   287,364  
Eastpark
 
Mesa Rd. at Tidwell
 
Jack in the Box, CVS (O.B.O.), US Postal Service (O.B.O.)
  100.00 %       1,576   0   0   1,576  
Edgebrook
 
Edgebrook at Gulf Fwy.
 
Fiesta +, JPMorgan Chase Bank, Family Dollar
  15.00 %   (1)   11,769   66,691   0   78,460  
Fiesta Village
 
Quitman at Fulton
 
Fiesta +
  15.00 %   (1)   4,537   25,712   0   30,249  
Fondren/West Airport
 
Fondren at W. Airport
 
Save-A-Lot +
  100.00 %       56,593   0   0   56,593  
Glenbrook Square
 
Telephone Road
 
Kroger +, Blockbuster
  15.00 %   (1)   11,684   66,206   0   77,890  
Griggs Road
 
Griggs at Cullen
 
Family Dollar, Citi Trends
  15.00 %   (1)   12,017   68,097   0   80,114  
Harrisburg Plaza
 
Harrisburg at Wayside
 
Fallas Paredes
  15.00 %   (1)   14,016   79,422   0   93,438  
Heights Plaza
 
20th St. at Yale
 
Kroger +, Walgreen’s
  100.00 %       71,777   0   0   71,777  
Humblewood Shopping Plaza
 
Eastex Fwy. at F.M. 1960
 
Kroger +,Conn’s, Walgreen’s, Michael's (O.B.O.), DSW (O.B.O.)
  100.00 %       178,837   0   99,000   277,837  
I-45/Telephone Rd. Center
 
I-45 at Maxwell Street
 
Sellers Bros. +, Dollar Tree, FAMSA, Fallas Paredes
  15.00 %   (1)   25,891   146,718   0   172,609  
Jacinto City
 
Market at Baca
 
Sellers Bros. +, CVS/pharmacy
  50.00 %   (1)   24,569   24,569   0   49,138  
Kirby Strip Center
 
Kirby Dr, Houston
 
New Orleans Cajun Restaurant
  100.00 %       10,000   0   0   10,000  
Lawndale
 
Lawndale at 75th St.
 
Family Dollar, 99 Cents Only, LaMichoacana Meat Market +
  15.00 %   (1)   7,819   44,308   0   52,127  
Little York Plaza
 
Little York at E. Hardy
 
Sellers Bros. +, Fallas Paredes
  15.00 %   (1)   17,603   99,750   0   117,353  
Lyons Avenue
 
Lyons at Shotwell
 
Fiesta +, Fallas Paredes
  15.00 %   (1)   10,144   57,485   0   67,629  
Market at Westchase
 
Westheimer at Wilcrest
 
Whole Foods Market +
  100.00 %       84,084   0   0   84,084  
North Main Square
 
Pecore at N. Main
 
Hi-Lo Auto
  100.00 %       18,515   0   0   18,515  
North Oaks
 
F.M. 1960 at Veterans Memorial
 
T.J. Maxx, Ross Dress for Less, Staples, Big Lots, DSW, Half Price Books, Anna's Linens, Hobby Lobby
  15.00 %   (1)   60,710   344,023   0   404,733  
North Triangle
 
I-45 at F.M. 1960
 
CiCi’s Pizza
  100.00 %       16,060   0   0   16,060  
Northbrook Center
 
Northwest Fwy. at W. 34th
 
Randall’s +, Office Depot, Citi Trends, Anna’s Linens, Dollar Tree
  100.00 %       172,479   0   0   172,479  
Northwest Crossing
 
N.W. Fwy. at Hollister
 
Target (O.B.O.), Marshall’s, Babies “R” Us, Best Buy
  75.00 %   (1)(3)   137,507   45,836   120,721   304,064  
Oak Forest
 
W. 43rd at Oak Forest
 
Kroger +, Palais Royal, Dollar Tree
  100.00 %       147,674   0   0   147,674  
Orchard Green
 
Gulfton at Renwick
 
Sellers Bros. +, Family Dollar
  100.00 %       74,983   0   0   74,983  
Randall's /Cypress Station
 
F.M. 1960 at I-45
 
Randalls +
  100.00 %       138,974   0   0   138,974  
Randall's /Kings Crossing
 
Kingwood Dr. at Lake Houston Pkwy.
 
Randall’s +, CVS/pharmacy
  30.00 %   (1)   37,919   88,478   0   126,397  
Randall's /Norchester
 
Grant at Jones
 
Playa Azul Seafood & Oyster Bar
  100.00 %       107,200   0   0   107,200  
Richmond Square
 
Richmond Ave. at W. Loop 610
 
Best Buy (O.B.O.), Cost Plus
  100.00 %       35,623   0   58,247   93,870  
River Oaks East
 
W. Gray at Woodhead
 
Kroger +
  100.00 %       71,265   0   0   71,265  
River Oaks West
 
W. Gray at S. Shepherd
 
Talbot’s, JoS. A. Bank, Ann Taylor, Gap, Barnes & Noble
  100.00 %       251,989   0   0   251,989  
Sheldon Forest North
 
North, I-10 at Sheldon
 
Gerland’s +, Burke’s Outlet
  100.00 %       22,040   0   0   22,040  
Sheldon Forest South
 
North, I-10 at Sheldon
 
Family Dollar
  50.00 %   (1)   37,670   37,670   0   75,340  


 
Page 30

 
 
Weingarten Realty Investors
 
Property Listing at March 31, 2009
 
                     
Gross Leasable Area
 
           
WRI
           
Joint
 
Owned
     
Center
 
Location
 
Anchors
 
Owned
   
Foot
 
WRI
 
Venture
 
by
     
           
%
   
Notes
 
Owned
 
Share
 
Other
 
Total
 
Shops at Three Corners
 
S. Main at Old Spanish Trail
 
Fiesta +, Office Depot, PetsMart, Ross Dress for Less, Anna’s Linens, Big Lots
  70.00 %   (1)   172,990   74,139   0   247,129  
Southgate
 
W. Fuqua at Hiram Clark
 
Food-A-Rama +, Palais Royal, CVS/pharmacy, Family Dollar
  15.00 %   (1)   18,695   105,939   0   124,634  
Spring Plaza
 
Hammerly at Campbell
 
Sellers Bros. +, Family Dollar
  15.00 %   (1)   8,890   50,376   0   59,266  
Steeplechase
 
Jones Rd. at F.M. 1960
 
Bealls, 99 Cents Only, Anna's Linens, Goodwill Industries
  100.00 %       194,551   0   99,950   294,501  
Stella Link
 
Stella Link at S. Braeswood
 
Sellers Bros.+, Spec’s Liquor Warehouse, Burke’s Outlet
  100.00 %       96,396   0   0   96,396  
Studemont
 
Studewood at E. 14th St
 
Fiesta +
  100.00 %       28,466   0   0   28,466  
Ten Blalock Square
 
I-10 at Blalock
 
99 Ranch Market+
  100.00 %       97,217   0   0   97,217  
Village Arcade
 
University at Kirby
 
Gap, Baby Gap
  100.00 %       57,219   0   0   57,219  
Village Arcade-Phase II
 
University at Kirby
 
Talbot’s
  100.00 %       28,371   0   0   28,371  
Village Arcade-Phase III
 
University at Kirby
 
American Eagle Outfitters, Banana Republic, Express
  100.00 %       106,879   0   0   106,879  
Westchase Center
 
Westheimer at Wilcrest
 
Ross Dress for Less, Randall’s +, Golfsmith, Palais Royal, Target (O.B.O.), Petco
  100.00 %       232,994   0   99,550   332,544  
Westhill Village
 
Westheimer at Hillcroft
 
Ross Dress for Less, Office Depot, 99 Cents Only, Anna’s Linens
  100.00 %       130,562   0   0   130,562  
Killeen Marketplace
 
3200 E. Central Texas Expressway, Killeen
 
Best Buy, Ross Dress for Less, Staples, Home Depot (O.B.O.)
  100.00 %       115,203   0   135,934   251,137  
Cedar Bayou
 
Bayou Rd., La Marque
 
Dollar General, La Marque Fire Dept. (O.B.O.)
  100.00 %       14,873   0   30,688   45,561  
North Creek Plaza
 
Del Mar Blvd. at Hwy. I-35, Laredo
 
Old Navy, Bed Bath & Beyond, Best Buy, Target (O.B.O.), H. E. B. + (O.B.O.), Marshall’s
  100.00 %       242,293   0   206,463   448,756  
Plantation Centre
 
Del Mar Blvd. at McPherson Rd., Laredo
 
H. E. B. +, Blockbuster
  100.00 %       134,919   0   0   134,919  
League City Plaza
 
I-45 at F.M. 518, League City
 
Kroger +
  15.00 %   (1)   19,048   107,942   0   126,990  
Central Plaza
 
Loop 289 at Slide Rd., Lubbock
 
Bed Bath & Beyond, Old Navy, Staples
  100.00 %       151,196   0   0   151,196  
Town and Country
 
4th St. at University, Lubbock
 
Hasting’s Records & Books
  100.00 %       30,743   0   0   30,743  
Angelina Village
 
Hwy. 59 at Loop 287, Lufkin
 
Kmart, Office Max, Conn's
  100.00 %       248,199   0   0   248,199  
Las Tiendas Plaza
 
Expressway 83 at McColl Rd., McAllen
 
Target (O.B.O.), Mervyn’s (O.B.O.), Academy, Conn’s, Ross Dress for Less, Marshall’s, Office Depot
  50.00 %   (1)(3)   143,968   143,968   212,132   500,067  
Northcross
 
N. 10th St. at Nolana Loop, McAllen
 
Barnes & Noble
  50.00 %   (1)(3)   38,196   38,196   0   76,391  
Old Navy Building
 
1815 10th Street, McAllen
 
Old Navy
  50.00 %   (1)(3)   7,500   7,500   0   15,000  
South 10th St. HEB
 
S. 10th St. at Houston St., McAllen
 
H. E. B. +
  50.00 %   (1)(3)   51,851   51,851   0   103,702  
Independence Plaza
 
Town East Blvd., Mesquite
 
Babies “R” Us, Family Dollar
  100.00 %       179,182   0   0   179,182  
Sharyland Towne Crossing
 
Shary Rd. at Hwy. 83, Mission
 
Target (O.B.O.), H. E. B., T.J. Maxx, Petco, Office Depot,  Ross
  50.00 %   (1)(3)   172,234   172,234   131,909   476,376  
Custer Park
 
SWC Custer Road at Parker Road, Plano
 
Kroger + (O.B.O), Dollar General
  100.00 %       115,484   0   65,084   180,568  
Pitman Corners
 
Custer Road at West 15th, Plano
 
Albertsons +, Tuesday Morning
  100.00 %       192,283   0   0   192,283  
Preston Shepard Place
 
Preston Rd. at Park Blvd.
 
SteinMart, Old Navy, Office Depot, Marshalls, Babies "R" Us, Borders
  20.00 %   (1)(3)   72,667   290,670   0   363,337  
Gillham Circle
 
Gillham Circle at Thomas, Port Arthur
 
Family Dollar
  100.00 %       33,134   0   0   33,134  
Starr Plaza
 
U.S. Hwy. 83 at Bridge St., Rio Grande City
 
H. E. B.+, Beall’s, Dollar General
  50.00 %   (1)(3)   88,406   88,406   0   176,812  
Rockwall
 
I-30 at Market Center Street, Rockwall
 
Office Max, Petco, Ross Dress for Less, Old Navy, Michael’s
  100.00 %       209,051   0   0   209,051  
Rose-Rich
 
U.S. Hwy. 90A at Lane Dr., Rosenberg
 
Family Dollar, Palais Royal
  100.00 %       103,385   0   0   103,385  
Lake Pointe Market Center
 
Dalrock Rd. at Lakeview Pkwy., Rowlett
 
Tom Thumb + (O.B.O.), Walgreen’s (O.B.O.)
  100.00 %       42,860   0   81,176   124,036  
Boswell Towne Center
 
Highway 287 at Bailey Boswell Rd., Saginaw
 
Albertsons + (O.B.O)
  100.00 %       26,088   0   61,747   87,835  
Fiesta Trails
 
I-10 at DeZavala Rd., San Antonio
 
H. E. B. + (O.B.O.), Target (O.B.O.), Barnes & Noble, Act III Theatres, Marshall’s, Office Max, SteinMart, Petco, Anna’s Linens
  100.00 %       312,370   0   176,000   488,370  
Oak Park Village
 
Nacogdoches at New Braunfels, San Antonio
 
H. E. B. +
  30.00 %   (1)   19,286   45,001   0   64,287  
Parliament Square
 
W. Ave. at Blanco, San Antonio
 
Bernina New Home Sewing Center, Anytime Fitness
  100.00 %       64,950   0   0   64,950  
Parliament Square II
 
W. Ave. at Blanco, San Antonio
 
Incredible Pizza
  100.00 %       54,541   0   0   54,541  
Thousand Oaks
 
Thousand Oaks Dr. at Jones Maltsberger Rd., San Antonio
 
H. E. B. +, Beall’s, Tuesday Morning
  15.00 %   (1)   24,432   138,450   0   162,882  
Valley View
 
West Ave. at Blanco Rd., San Antonio
 
Marshall’s, Blockbuster, Dollar Tree
  100.00 %       89,859   0   0   89,859  
Market at Town Center
 
Town Center Blvd., Sugar Land
 
Old Navy, Home Goods, Marshall’s, DSW Shoe Warehouse, Ross Dress for Less
  100.00 %       375,820   0   0   375,820  
Island Market Place
 
6th St. at 9th Ave., Texas City
 
Food King +
  100.00 %       27,277   0   0   27,277  
Palmer Plaza
 
F.M. 1764 at 34th St., Texas City
 
Randall’s +, Big Lots (O.B.O.), Dollar Tree
  100.00 %       96,526   0   99,980   196,506  
Broadway
 
S. Broadway at W. 9th St., Tyler
 
SteinMart
  100.00 %       60,400   0   0   60,400  
Crossroads
 
I-10 at N. Main, Vidor
 
Market Basket +, Beall’s, Baskin’s, Burke’s Outlet
  100.00 %       115,692   0   0   115,692  


 
Page 31

 
 
Weingarten Realty Investors
 
Property Listing at March 31, 2009
 
                     
Gross Leasable Area
 
           
WRI
           
Joint
 
Owned
     
Center
 
Location
 
Anchors
 
Owned
   
Foot
 
WRI
 
Venture
 
by
     
           
%
   
Notes
 
Owned
 
Share
 
Other
 
Total
 
                                     
Texas Total:
 
# of Properties:  100
                9,440,534   3,239,911   2,333,369   15,013,811  
                                     
Utah
                                   
Alpine Valley Center
 
Main St. at State St., American Fork
 
Super Target + (O.B.O.), Old Navy, Pier 1 Imports, Dollar Tree, Office Depot
  33.30 %   (1)(3)   30,382   60,772   133,500   224,654  
Taylorsville Town Center
 
West 4700 South at Redwood Rd., Taylorsville
 
Albertsons + (O.B.O.), Rite Aid
  100.00 %       94,157   0   40,057   134,214  
West Jordan Town Center
 
West 7000 South at S. Redwood Rd., West Jordan
 
Albertsons +, Office Depot, Target (O.B.O.), Petco
  100.00 %       182,099   0   122,800   304,899  
                                     
Utah Total:
 
# of Properties:  3
                306,638   60,772   296,357   663,767  
                                     
Washington
                                   
Village at Liberty Lake
 
E. Country Vista Dr. at N. Liberty Rd., Liberty Lake
 
Home Depot (O.B.O.)
  50.00 %   (1)(3)   0   0   132,874   132,874  
Mukilteo Speedway Center
 
Mukilteo Speedway, Lincoln Way, and Highway 99, Lynnwood
 
Food Emporium +, Bartell Drugs
  20.00 %   (1)(3)   18,055   72,218   0   90,273  
Meridian Town Center
 
Meridian Avenue East and 132nd Street East, Puyallup
 
Jo-Ann Fabric & Craft Store, Safeway + (O.B.O.)
  20.00 %   (1)(3)   15,533   62,133   65,346   143,012  
South Hill Center
 
43rd Avenue Southwest and Meridian Street South, Puyallup
 
Best Buy, Bed Bath & Beyond, Ross Dress for Less
  20.00 %   (1)(3)   26,804   107,216   0   134,020  
Rainer Square Plaza
 
Rainer Avenue South and South Charleston Street, Seattle
 
Safeway +
  20.00 %   (1)(3)   21,485   85,938   0   107,423  
                                     
Washington Total:
 
# of Properties:  5
                81,877   327,505   198,220   607,602  
                                     
Industrial
                                   
Operating Properties
                                   
                                     
California
                                   
Siempre Viva Business Park
 
Siempre Viva Rd. at Kerns St., San Diego
 
Hitachi Transport, UPS Supply Chain Solutions, Inc., Besttech Trading USA
  20.00 %   (1)(3)   145,353   581,413   0   726,766  
                                     
California Total:
 
# of Properties:  1
                145,353   581,413   0   726,766  
                                     
Florida
                                   
Lakeland Industrial Center
 
I-4 at County Rd., Lakeland
 
Rooms to Go, Publix, Star Distribution, Chep USA
  100.00 %       600,000   0   0   600,000  
Lakeland Interestate Industrial Park I
 
Interstate Drive and Kathleen Rd., Lakeland
 
Carolina Logistics Services, Inc., Acuity Specialty Products Group, Inc.,
  100.00 %       168,400   0   0   168,400  
1801 Massaro
 
1801 Massaro Blvd., Tampa
 
MiTek Industries, Inc., JK Transportation
  100.00 %       159,000   0   0   159,000  
Hopewell Industrial Center
 
Old Hopewell Boulevard and U.S. Highway 301, Tampa
 
Parts Depot, Inc., American Tire Distributors
  100.00 %       224,483   0   0   224,483  
Tampa East Industrial Portfolio
 
1841 Massaro Blvd., Tampa
 
General Electric, Hughes Supply, Interline Brands, GE Polymershapes, Creative Recycling Systems
  100.00 %       512,923   0   0   512,923  
                                     
Florida Total:
 
# of Properties:  5
                1,664,806   0   0   1,664,806  
                                     
Georgia
                                   
Atlanta Industrial Park
 
Atlanta Industrial Pkwy. at Atlanta Industrial Dr., Atlanta
 
Georgia Aquarium, Inc., Cardinal Logistics Mgmt Co.
  100.00 %       120,200   0   0   120,200  
Atlanta Industrial Park II & VI
 
Atlanta Industrial Pkwy. at Atlanta Industrial Dr., Atlanta
 
Target Container Co., Sanderson Industries, Inc., GSC Packaging
  100.00 %       382,100   0   0   382,100  
Atlanta Industrial Parkway
 
Atlanta Industrial Pkwy. at Atlanta Industrial Dr., Atlanta
 
Sanderson Industries, Inc.
  100.00 %       50,000   0   0   50,000  
Riverview Distribution Center
 
Fulton Industrial Blvd. at Camp Creek Parkway
 
Chep USA
  100.00 %       265,200   0   0   265,200  
Sears Logistics
 
3700 Southside Industrial Way, Atlanta
 
Sears Logistics Services
  20.00 %   (1)(3)   80,511   322,043   0   402,554  
SouthPark 3075
 
Anvil Block Rd and SouthPark Blvd, Atlanta
 
American Tire Distributors
  100.00 %       234,525   0   0   234,525  
Southside Industrial Parkway
 
Southside Industrial Pkwy at Jonesboro Rd., Atlanta
 
Lowe Supply, Inc., Mission Produce
  100.00 %       72,000   0   0   72,000  
Westlake 125
 
Camp Creek Parkway and Westlake Parkway, Atlanta
 
Maxwell Chase Technologies, LLC, Nissei ASB Company, Berlin Packaging
  100.00 %       154,464   0   0   154,464  
Kennesaw 75
 
3850-3900 Kennesaw Prkwy, Kennesaw
 
Trane, Clorox Services Company, Builders Specialties, LLC
  100.00 %       178,467   0   0   178,467  


 
Page 32

 
 
Weingarten Realty Investors
 
Property Listing at March 31, 2009
 
                     
Gross Leasable Area
 
           
WRI
           
Joint
 
Owned
     
Center
 
Location
 
Anchors
 
Owned
   
Foot
 
WRI
 
Venture
 
by
     
           
%
   
Notes
 
Owned
 
Share
 
Other
 
Total
 
6485 Crescent Drive
 
I-85 at Jimmy Carter Blvd., Norcross
 
Zurn, Pax Industries, Prime Choice Properties
  20.00 %   (1)(3)   72,092   288,368   0   360,460  
                                     
Georgia Total:
 
# of Properties:  8
                1,609,559   610,411   0   2,219,970  
                                     
Tennessee
                                   
Crowfarn Drive Warehouse
 
Crowfarn Dr. at Getwell Rd., Memphis
 
CMI Freight Transportation, Sergeant's Pet Care Products
  20.00 %   (1)(3)   31,770   127,079   0   158,849  
Outland Business Center
 
Outland Center Dr., Memphis
 
Vistar Corporation, TricorBraun, Kuehne & Nagel
  20.00 %   (1)(3)   82,028   328,110   0   410,138  
Southpoint I & II
 
Pleasant Hill Rd. at Shelby Dr., Memphis
 
AF Services, Sunnywood Products, Inc., Wynit
  100.00 %       570,940   0   0   570,940  
                                     
Tennessee Total:
 
# of Properties:  3
                684,738   455,189   0   1,139,927  
                                     
Texas
                                   
Midpoint I-20 Distribution Center
 
New York Avenue and Arbrook Boulevard, Arlington
 
Airborne Express, Tred-It Tire & Wheel, Amercian Medical Response
  100.00 %       253,165   0   0   253,165  
Randol Mill Place
 
Randol Mill Road, Arlington
 
Protech Electronics, Inc., Premier Products
  100.00 %       54,639   0   0   54,639  
Braker 2 Business Center
 
Kramer Ln. at Metric Blvd., Austin
 
Home Team Pest Defense, MJC Electronics Corporation
  100.00 %       27,359   0   0   27,359  
Corporate Center Park I and II
 
Putnam Dr. at Research Blvd., Austin
 
Phoenix Lamar Corp, CenTex Independent Electrical, Schindler Elevator
  100.00 %       119,452   0   0   119,452  
Oak Hills Industrial Park
 
Industrial Oaks Blvd., Austin
 
Terracon, Inc., Illumitex
  100.00 %       89,858   0   0   89,858  
Rutland 10 Business Center
 
Metric Blvd. At Centimeter Circle, Austin
 
Media Event Concepts, Inc., Stellar Micro Devices
  100.00 %       54,000   0   0   54,000  
Southpark A,B,C
 
East St. Elmo Rd. at Woodward St., Austin
 
HJV Associates, Inc., Texas EZ Pawn., Viko Test Lab
  100.00 %       78,276   0   0   78,276  
Southpoint Service Center
 
Burleson at Promontory Point Dr., Austin
 
Browning Construction Co., Ltd.
  100.00 %       57,667   0   0   57,667  
1625 Diplomat Drive
 
SWC Diplomat Dr. at McDaniel Dr., Carrollton
 
Rooftop Systems, Inc.
  100.00 %       106,140   0   0   106,140  
Midway Business Center
 
Midway at Boyington, Carrollton
 
ProSource, Luxury of Leather
  100.00 %       141,246   0   0   141,246  
Manana Office Center
 
I-35 at Manana, Dallas
 
Dave & Busters, B&B Graphics Finishing Services
  100.00 %       223,128   0   0   223,128  
Newkirk Service Center
 
Newkirk near N.W. Hwy., Dallas
 
AWC, Corporate Meeting Services
  100.00 %       105,892   0   0   105,892  
Northeast Crossing Office/Service Center
 
East N.W. Hwy. at Shiloh, Dallas
 
Capital Title, Garland Surgery Center
  100.00 %       78,700   0   0   78,700  
Northwest Crossing Office/Service Center
 
N.W. Hwy. at Walton Walker, Dallas
 
Corporate Care, Corvette Warehouse
  100.00 %       126,984   0   0   126,984  
Redbird Distribution Center
 
Joseph Hardin Drive, Dallas
 
Consolidated Container Company; Texwood Industries, L.P.
  100.00 %       110,839   0   0   110,839  
Regal Distribution Center
 
Leston Avenue, Dallas
 
Parkland Health & Hosp System, BKM Total Office of Texas, L.P., Global Industries Southwest
  100.00 %       202,559   0   0   202,559  
Space Center Industrial Park
 
Pulaski St. at Irving Blvd., Dallas
 
Weir’s Furniture Village, Inc., Facility Interiors, Inc.
  100.00 %       264,582   0   0   264,582  
McGraw Hill Distribution Center
 
420 E. Danieldale Rd, DeSoto
 
McGraw Hill Companies, Inc.
  100.00 %       417,938   0   0   417,938  
610 and 11th St. Warehouse
 
Loop 610 at 11th St.
 
Prefco Corp.
  100.00 %       104,975   0   0   104,975  
610 and 11th St. Warehouse
 
Loop 610 at 11th St.
 
Iron Mountain
  20.00 %   (1)(3)   48,728   194,914   0   243,642  
610/288 Business Park
 
Cannon Street
 
Palmer Logistics
  20.00 %   (1)(3)   59,085   236,341   0   295,426  
Beltway 8 Business Park
 
Beltway 8 at Petersham Dr.
 
Select Floors, Premier Home Technology
  100.00 %       157,498   0   0   157,498  
Blankenship Building
 
Kempwood Drive
 
Classic Printers
  100.00 %       59,729   0   0   59,729  
Brookhollow Business Center
 
Dacoma at Directors Row
 
YMCA of Greater Houston, Surgeon's Management, Houston Digital Instruments
  100.00 %       133,553   0   0   133,553  
Central Park Northwest VI
 
Central Pkwy. at Dacoma
 
Houston Metallurgical Lab, Inc., Gulf Draperies
  100.00 %       175,348   0   0   175,348  
Central Park Northwest VII
 
Central Pkwy. at Dacoma
 
Lucent Technologies, Inc., Houston Graduate School of Theology
  100.00 %       103,602   0   0   103,602  
Crestview
 
Bissonnet at Wilcrest
 
Creative Connection
  100.00 %       8,970   0   0   8,970  
Crosspoint Warehouse
 
Crosspoint
 
Foam Enterprises, LLC.
  100.00 %       72,505   0   0   72,505  
Houston Cold Storage Warehouse
 
7080 Express Lane
 
Houston Central Industries, Inc.
  100.00 %       128,752   0   0   128,752  
Jester Plaza Office Service Center
 
West T.C. Jester
 
Corporate Care of Houston, Milwaukee Electric Tool Corporation, Zermat USA
  100.00 %       100,605   0   0   100,605  
Kempwood Industrial
 
Kempwood Dr. at Blankenship Dr.
 
Pioneer Contract Services, Veritas
  20.00 %   (1)(3)   43,898   175,591   0   219,489  
Kempwood Industrial
 
Kempwood Dr. at Blankenship Dr.
 
Pioneer Contract Services
  100.00 %       113,218   0   0   113,218  
Lathrop Warehouse
 
Lathrop St. at Larimer St.
 
United D.C., Inc.
  20.00 %   (1)(3)   50,378   201,512   0   251,890  
Navigation Business Park
 
Navigation at N. York
 
Synergy Cables USA
  20.00 %   (1)(3)   47,664   190,657   0   238,321  
Northway Park II
 
Loop 610 East at Homestead
 
Jet Lube, Inc., South Texas Bolt & Fitting
  20.00 %   (1)(3)   60,697   242,786   0   303,483  
Railwood F
 
Market at U.S. 90
 
Shell Oil Company
  20.00 %   (1)(3)   60,000   240,000   0   300,000  
Railwood G
 
Mesa at U.S. 90
 
Global Stainless Supply, Inc.
  50.00 %   (1)(3)   105,425   105,425   0   210,850  


 
Page 33

 
 
Weingarten Realty Investors
 
Property Listing at March 31, 2009
 
                     
Gross Leasable Area
 
           
WRI
           
Joint
 
Owned
     
Center
 
Location
 
Anchors
 
Owned
   
Foot
 
WRI
 
Venture
 
by
     
           
%
   
Notes
 
Owned
 
Share
 
Other
 
Total
 
Railwood Industrial Park
 
Mesa at U.S. 90
 
Distribution International SW, Meridian IQ Services
  100.00 %       402,680   0   0   402,680  
Railwood Industrial Park
 
Mesa at U.S. 90
 
DSC Logistics, Resource Logistics International
  20.00 %   (1)(3)   99,531   398,125   0   497,656  
South Loop Business Park
 
S. Loop at Long Dr.
 
Plastic Plus Awards, Lumber Liquidators
  50.00 %   (1)(3)   46,225   46,225   0   92,450  
Southport Business Park 5
 
South Loop 610
 
International Surface Preparation Group, Inc.
  100.00 %       160,653   0   0   160,653  
Southwest Park II Service Center
 
Rockley Road
 
BA Research International
  100.00 %       67,700   0   0   67,700  
Stonecrest Business Center
 
Wilcrest at Fallstone
 
Alpha Omega Caseworks, Aztec Facility Services, Inc., Sun Line Food & Supply Co.
  100.00 %       110,641   0   0   110,641  
Town & Country Commerce Center
 
I-10 at Beltway 8
 
Arizona Tile, Seitel
  100.00 %       206,000   0   0   206,000  
West 10 Business Center II
 
Wirt Rd. at I-10
 
Summers Group, Inc.
  100.00 %       82,658   0   0   82,658  
West Loop Commerce Center
 
W. Loop N. at I-10
 
Inter-Tel Technologies
  100.00 %       34,256   0   0   34,256  
West-10 Business Center
 
Wirt Rd. at I-10
 
Aaron’s Office Furniture
  100.00 %       102,087   0   0   102,087  
Westgate Service Center
 
Park Row Drive at Whiteback Dr.
 
Welltec, Inc.,Wood Group, 3M, CAS Holdings, Inc.
  100.00 %       119,786   0   0   119,786  
Freeport Commerce Center
 
Sterling Street and Statesman Drive, Irving
 
McGraw Hill Companies, Inc., TKS (U.S.A.), Inc., Air Tiger Express, Excel Floors
  100.00 %       50,590   0   0   50,590  
Central Plano Business Park
 
Klein Rd. at Plano Pkwy., Plano
 
CK Management, Inc., Minarik Corp.
  100.00 %       137,785   0   0   137,785  
Jupiter Service Center
 
Jupiter near Plano Pkwy., Plano
 
Interceramic Tile, Gemaire Distributors
  100.00 %       78,480   0   0   78,480  
Sherman Plaza Business Park
 
Sherman at Phillips, Richardson
 
Weingarten regional office
  100.00 %       101,137   0   0   101,137  
Interwest Business Park
 
Alamo Downs Parkway, San Antonio
 
All-American Sports, Gell Service Company, Inc., Goodman Manufacturing Company, L.P.
  100.00 %       219,244   0   0   219,244  
Isom Business Park
 
919-981 Isom Road, San Antonio
 
Gate Gourmet, Gandi Innovations, Wells Fargo Bank
  100.00 %       175,200   0   0   175,200  
O'Connor Road Business Park
 
O’Connor Road, San Antonio
 
Ingersoll Rand, TD Industries
  100.00 %       150,091   0   0   150,091  
Freeport Business Center
 
13215 N. Promenade Blvd., Stafford
 
Yokagawa, Life-Tech, Gurwitch Industries, PSI Group
  100.00 %       251,385   0   0   251,385  
                                     
Texas Total:
 
# of Properties:  54
                6,743,183   2,031,576   0   8,774,759  
                                     
Virginia
                                   
Enterchange at Northlake A
 
11900-11998 North Lakeridge Parkway, Ashland
 
FedEx, Owens & Minor
  100.00 %       215,077   0   0   215,077  
Enterchange at Northlake C
 
North Lakeridge Parkway & Northlake Park Dr, Ashland
 
International Paper, Owens & Minor, Techturn, Wholesale Millwork
  20.00 %   (1)(3)   58,623   234,492   0   293,115  
Enterchange at Meadowville
 
2101 Bermuda Hundred Dr, Chester
 
Vacant
  20.00 %   (1)(3)   45,362   181,447   0   226,809  
Enterchange at Walthall A & B
 
1900-1998 Ruffin Mill Rd, Colonial Heights
 
Mazda Motors of America, Inc., Xymid LLC
  20.00 %   (1)(3)   121,356   485,424   0   606,780  
Enterchange at Walthall C
 
1936-1962 Ruffin Mill Rd, Colonial Heights
 
PSS World Medical, Hill Phoenix, Sunrise Construction
  20.00 %   (1)(3)   52,384   209,538   0   261,922  
Enterchange at Walthall D
 
1700-1798 Ruffin Mill Rd, Colonial Heights
 
Saddle Creek, Recall Total Info Manager, Jim's Formal Wear
  100.00 %       243,782   0   0   243,782  
Interport Business Center A
 
4800-4890 Eubank Road, Richmond
 
Anderson News, LLC, HD Business LLC, Wyeth
  20.00 %   (1)(3)   89,482   357,930   0   447,412  
Interport Business Center B
 
4700-4790 Eubank Road, Richmond
 
Mid South Building Supply, Inc., Alcoa, EGL Eagle Global Logistics, LP, Commonwealth of Virginia Department of Taxation
  20.00 %   (1)(3)   23,600   94,400   0   118,000  
Interport Business Center C
 
5300-5390 Laburnum Ave, Richmond
 
Sears Home Improvement Products, Inc., Ferguson Enterprise, Inc.
  20.00 %   (1)(3)   10,977   43,908   0   54,885  
                                     
Virginia Total:
 
# of Properties:  9
                860,643   1,607,139   0   2,467,782  
                                     
Other
                                   
Operating Properties
                                   
                                     
Arizona
                                   
Arcadia Biltmore Plaza
 
Campbell Ave. at North 36th St., Phoenix
 
Endurance Rehab, Weingarten Realty Regional Office
  100.00 %       21,122   0   0   21,122  
                                     
Arizona Total:
 
# of Properties:  1
                21,122   0   0   21,122  
                                     
Texas
                                   
1919 North Loop West
 
Hacket Drive at West Loop 610 North
 
State of Texas, Weingarten Realty Regional Office
  100.00 %       139,449   0   0   139,449  
Citadel Plaza
 
Citadel Plaza Dr.
 
Weingarten Realty Investors Corporate Office
  100.00 %       121,000   0   0   121,000  
                                     
Texas Total:
 
# of Properties:  2
                260,449   0   0   260,449  


 
Page 34

 
 
Weingarten Realty Investors
 
Property Listing at March 31, 2009
 
                     
Gross Leasable Area
 
           
WRI
           
Joint
 
Owned
     
Center
 
Location
 
Anchors
 
Owned
   
Foot
 
WRI
 
Venture
 
by
     
           
%
   
Notes
 
Owned
 
Share
 
Other
 
Total
 
Total Operating Properties
 
# of Properties:  382
                45,113,307   13,332,265   9,460,751   67,906,317  
                                     
New Development
                                   
                                     
Arizona
                                   
Mohave Crossroads
 
Bullhead Parkway at State Route 95, Bullhead City
      100.00 %   (2)   150,289   0   197,360   347,649  
The Shoppes at Parkwood Ranch
 
Southern Avenue and Signal Butte Road, Mesa
      100.00 %   (2)   73,580   0   0   73,580  
                                     
Arizona Total:
 
# of Properties: 2
                223,869   0   197,360   421,229  
                                     
California
                                   
Jess Ranch Marketplace
 
Bear Valley Road at Jess Ranch Parkway, Apple Valley
      50.00 %   (1)(2)(3)   99,771   99,771   93,696   293,238  
Jess Ranch Phase III
 
Bear Valley Road at Jess Ranch Parkway, Apple Valley
      50.00 %   (1)(2)(3)   78,116   78,116   0   156,232  
                                     
California Total:
 
# of Properties: 2
                177,887   177,887   93,696   449,470  
                                     
Colorado
                                   
River Point at Sheridan
 
Highway 77 and Highway 88, Sheridan
      50.00 %   (1)(2)(3)   44,246   44,246   327,000   415,493  
The Gardens on Havana
 
Mississippi at Havana, Aurora
      39.80 %   (1)(2)(3)   158,902   240,450   142,500   541,852  
                                     
Colorado Total:
 
# of Properties: 2
                203,148   284,696   469,500   957,345  
                                     
Florida
                                   
Clermont Landing
 
U.S. 27 & Steve's Road
      55.00 %   (1)(2)(3)   68,124   55,738   104,175   228,037  
Epic Village - St. Augustine
 
SR 207 at Rolling Hills Dr
      70.00 %   (1)(2)   3,690   1,582   53,625   53,625  
Palm Coast Center
 
State Road 100 & Belle Terre Parkway, Palm Coast
      50.00 %   (1)(2)(3)   79,598   79,598   179,476   338,671  
Phillips Crossing
 
Interstate 4 and Sand Lake Road, Orlando
      100.00 %   (2)   130,243   0   0   130,243  
Phillips Landing
 
Turkey Lake Rd., Orlando
      100.00 %   (2)   48,585   0   219,815   268,400  
                                     
Florida Total:
 
# of Properties: 5
                330,240   136,918   557,091   1,018,976  
                                     
North Carolina
                                   
Surf City Crossing
 
Highway 17 and Highway 210, Surf City
      75.00 %   (1)(2)   36,567   12,189   0   48,756  
Waterford Village
 
U.S. Hwy 17 & U.S. Hwy 74/76, Leland
      75.00 %   (1)(2)   52,276   17,425   0   69,701  
                                     
North Carolina Total:
 
# of Properties: 2
                88,843   29,614   0   118,457  
                                     
Tennessee
                                   
Ridgeway Trace
 
Memphis
      100.00 %   (2)   71,587   0   137,740   209,327  
                                     
Tennessee Total:
 
# of Properties: 1
                71,587   0   137,740   209,327  
                                     
Texas
                                   
Claywood Industrial Park
 
Clay at Hollister
      100.00 %   (2)   432,016   0   0   432,016  
Gateway Station
 
I-35W and McAlister Rd., Burleson
      70.00 %   (1)(2)   27,272   11,688   0   38,960  
Horne Street Market
 
I-30 & Horne Street, Fort Worth
      100.00 %   (2)   42,267   0   0   42,267  
Market at Nolana
 
Nolana Ave and 29th St., McAllen
      50.00 %   (1)(2)(3)   13,222   13,222   203,818   230,261  
Market at Sharyland Place
 
U.S. Expressway 83 and Shary Road, Mission
      50.00 %   (1)(2)(3)   47,956   47,956   320,000   415,912  
North Towne Plaza
 
U.S. 77 and 83 at SHFM 802, Brownsville
      75.00 %   (1)(2)   0   0   117,000   117,000  
The Shoppes at Wilderness Oaks
 
US Hwy 281 at Wilderness Oaks
      100.00 %   (2)   0   0   0   0  
Tomball Marketplace
 
FM 2920 and Future 249, Tomball
      100.00 %   (2)   37,183   0   85,000   122,183  
Westover Square
 
151 and Ingram, San Antonio
      66.70 %   (1)(2)   0   0   0   0  
Westwood Center
 
Culebra Road and Westwood Loop, San Antonio
      100.00 %   (2)   2,450   0   0   2,450  
Texas Total:
 
# of Properties: 10
                602,366   72,866   725,818   1,401,049  


 
Page 35

 
 
Weingarten Realty Investors
 
Property Listing at March 31, 2009
 
                     
Gross Leasable Area
 
           
WRI
           
Joint
 
Owned
     
Center
 
Location
 
Anchors
 
Owned
   
Foot
 
WRI
 
Venture
 
by
     
           
%
   
Notes
 
Owned
 
Share
 
Other
 
Total
 
Utah
                                   
300 West Retail Center
 
Paxton Ave and 400 West St
      31.80 %   (1)(2)(3)   0   0   0   0  
                                     
Utah Total:
 
# of Properties: 1
                0   0   0   0  
                                     
Total New Developments
 
# of Properties:  25
                1,697,940   701,981   2,181,205   4,575,853  
                                     
Unimproved Land
                                   
                                     
Arizona
                                   
                                     
Lon Adams Rd at Tangerine Farms Rd, Marana
                                464,785  
                                     
Arizona Total:
                                464,785  
                                     
California
                                   
Bear Valley Road at Jess Ranch Parkway Phase II, Apple Valley
                                139,392  
Bear Valley Road at Jess Ranch Parkway Phase III, Apple Valley
                                448,668  
                                     
California Total:
                                588,060  
                                     
Colorado
                                   
Mississippi at Havana, Aurora
                                418,717  
                                     
Colorado Total:
                                418,717  
                                     
Florida
                                   
Young Pines and Curry Ford Rd, Orange County
                                132,422  
                                     
Florida Total:
                                132,422  
                                     
Georgia
                                   
NWC South Fulton Parkway @ Hwy 92, Union City
                                3,554,000  
                                     
Georgia Total:
                                3,554,000  
                                     
Louisiana
                                   
70th St. at Mansfield Rd., Shreveport
                                41,704  
                                     
Louisiana Total:
                                41,704  
                                     
Nevada
                                   
SWC Highway 215 at Decatur, Las Vegas
                                1,103,810  
                                     
Nevada Total:
                                1,103,810  
                                     
North Carolina
                                   
U.S. Hwy 17 & U.S. Hwy 74/76, Leland
                                362,419  
Creedmoor (Highway 50) and Crabtree Valley Avenue, Raleigh
                                576,000  
U.S. 15-501 and Bruce Wood Rd, Southern Pines
                                1,047,000  
Highway 17 and Highway 210, Surf City
                                1,590,811  
U.S. Highway 1 at Caveness Farms Rd., Wake Forest
                                3,479,317  
                                     
North Carolina Total:
                                7,055,547  
                                     
Texas
                                   
Rock Prairie Rd. at Hwy. 6, College Station
                                3,570,178  
River Pointe Drive at Interstate 45, Conroe
                                118,483  
Leslie Rd. at Bandera Rd., Helotes
                                75,000  
Bissonnet at Wilcrest, Houston
                                84,629  
Citadel Plaza at 610 North Loop, Houston
                                137,000  
East Orem
                                122,000  
Kirkwood at Dashwood Drive, Houston
                                322,000  
Mesa Road at Tidwell, Houston
                                35,898  
Northwest Freeway at Gessner, Houston
                                213,292  
West Little York at Interstate 45, Houston
                                161,000  
West Loop North at Interstate 10, Houston
                                145,000  


 
Page 36

 
 
Weingarten Realty Investors
 
Property Listing at March 31, 2009
 
                     
Gross Leasable Area
 
           
WRI
           
Joint
 
Owned
     
Center
 
Location
 
Anchors
 
Owned
   
Foot
 
WRI
 
Venture
 
by
     
           
%
   
Notes
 
Owned
 
Share
 
Other
 
Total
 
Shary Rd. at North Hwy. 83, Mission
                                1,607,364  
9th Ave. at 25th St., Port Arthur
                                243,000  
Culebra Road and Westwood Loop, San Antonio
                                403,366  
FM 1957 (Potranco Road) and FM 211, San Antonio
                                8,656,243  
Highway 3 at Highway 1765, Texas City
                                201,000  
FM 2920 and Highway 249, Tomball
                                363,944  
                                     
Texas Total:
                                16,459,397  
                                     
Total Unimproved Land
                                29,818,442  

Page 37