EX-99.2 3 ex99_2combined.htm EXHIBIT 99.2 ex99_2combined.htm
EXHIBIT 99.2
 
 
 
 

 
 

Table of Contents
Page No.
       
Corporate Profile
1
       
Financial Summary
 
 
Condensed Consolidated Statements of Income
3
 
Condensed Consolidated Balance Sheets
4
 
Supplemental Financial Data
5
   
Funds from Operations
 
   
Dividends
 
   
General and Administrative Expenses
 
 
Supplemental Income Statement Detail
6
   
Rentals, net
 
   
Fee Income From Real Estate Joint Ventures and Partnerships
 
   
Interest Expense, net
 
   
Interest Income and Other Income, net
 
   
Supplemental Analyst Information
 
   
Net Operating Income Including Joint Ventures
 
   
Equity in Earnings of Real Estate Joint Ventures and Partnerships, net
 
 
Supplemental Balance Sheet Detail
7
   
Property
 
   
Straight Line Rent Receivable
 
   
Other Assets, net
 
   
Other Liabilities, net
 
   
Identified Intangible Assets and Liabilities
 
 
Capitalization and Coverage Ratios
8
   
Common Share Data
 
   
Capitalization
 
   
Capital Availability
 
   
Coverage Ratios
 
   
Net Debt to Adjusted EBITDA
 
   
Credit Ratings
 
       
Investment Activity
 
 
New Development Properties (by Stabilization)
10
 
Land Held for Development
11
 
Disposition and Acquistion Summary
12
 
Property Investment Summary
13
       
Summary of Debt
 
 
Debt Information
15
   
Outstanding Balance Summary
 
   
Fixed vs. Variable Rate Debt
 
   
Secured vs. Unsecured Debt
 
   
Weighted Average Interest Rates
 
 
Schedule of Maturities
16
       
Joint Ventures
 
 
Financial Statements of Unconsolidated Real Estate Joint Ventures and Partnerships at 100%
18
 
Financial Statements of Unconsolidated Real Estate Joint Ventures and Partnerships at Pro rata Share
19
 
Investments in Unconsolidated Real Estate Joint Ventures & Partnerships
20
 
Mortgage Debt Information for Unconsolidated Real Estate Joint Ventures & Partnerships
21
       
Portfolio Summary
 
 
Tenant Diversification by Percent of Rental Revenues
23
 
Portfolio Operating Information
24
   
Lease Expirations
 
   
Leasing Activity - Signed Leases
 
   
Occupancy
 
   
Same Property Net Operating Income Growth
 
 
Total Net Operating Income by Geographic Region
25
 
Average Base Rents by CBSA
26 - 28
       
Property Listing
30 - 43
       
Other Topics of Interest
 
 
Supplemental Leasing Information
45
 
Reconciliation of Adjusted Funds from Operations for Exclusion of Certain Transactions
46
       

 
 

 

Corporate Profile
 
 
 
Weingarten Realty Investors is an unincorporated trust organized under the Texas Real Estate Investment Trust Act that, through its predecessor entity, began the ownership and development of shopping centers and other commercial real estate in 1948.  As of September 30, 2010, we owned or operated under long-term leases, interests in 378 developed income-producing properties and 10 new development properties (including 7 which are income-producing), which are located in 23 states that span the United States from coast to coast.  Included in the portfolio are 307 shopping centers, 78 industrial projects, and 3 other operating properties.  Our interests in these properties aggregated approximately 43.9 million square feet of leasable area.  Our properties were 91.1% leased as of September 30, 2010, 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
 
 
Denver, CO
 
     
     
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
 
8.1% 2019 Notes
WRD
     
     
Forward-Looking Statements
 
     
This prospectus supplement and the accompanying prospectus, including documents incorporated by reference, contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and include this statement for purposes of complying with these safe harbor provisions. These forward-looking statements relate to the company's intentions, beliefs, expectations or projections of the future. It is important to note that the company's actual results could differ materially from those projected in such forward-looking statements. Factors which may cause actual results to differ materially from current expectations include, but are not limited to: (i) disruptions in financial markets, (ii) general economic and local real estate conditions, (iii) the inability of major tenants to continue paying their rent obligations due to bankruptcy, insolvency or general downturn in their business, (iv) financing risks, such as the inability to obtain equity, debt, or other sources of financing on favorable terms, (v) changes in governmental laws and regulations, (vi) the level and volatility of interest rates, (vii) the availability of suitable acquisition opportunities, (viii) changes in expected development activity, (ix) increases in operating costs, (x) tax matters, including failure to qualify as a real estate investment trust, could have adverse consequences and (xi) investments through real estate joint ventures and partnerships involve risks not present in investments in which we are the sole investor.  Accordingly, there is no assurance that our expectations will be realized.


 
Page 1

 


                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
Financial Summary
 
 
                       
                       
                       
                       
                       
                       
                       
                       
                       
                   
                       
                   
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       


 
 

 

Weingarten Realty Investors
 
Condensed Consolidated Statements of Income
 
(in thousands, except per share amounts)
 
                                                   
     
Three Months Ended
   
Nine Months Ended
                         
     
September 30,
   
September 30,
   
Twelve Months Ended December 31,
 
     
2010
   
2009
   
2010
   
2009
   
2009
   
2008
   
2007
   
2006
 
                                                   
Revenues:
                                               
Rentals, net
  $ 134,643     $ 138,175     $ 404,043     $ 417,560     $ 554,014     $ 578,859     $ 547,949     $ 494,609  
Other
    4,396       4,898       10,893       12,262       17,974       13,788       13,150       6,656  
Total
    139,039       143,073       414,936       429,822       571,988       592,647       561,099       501,265  
                                                                   
Expenses:
                                                               
Depreciation and amortization
    37,297       36,694       111,440       111,485       147,876       149,795       122,228       111,617  
Operating
    25,456       25,506       77,154       75,310       102,936       113,472       99,586       81,765  
Real estate taxes, net
    15,653       18,100       48,976       54,472       70,668       70,608       64,347       58,354  
Impairment loss
    4,941       32,774       21,002       32,774       34,983       52,539                  
General and administrative
    6,443       6,178       19,103       19,198       25,930       25,761       26,979       23,801  
Total
    89,790       119,252       277,675       293,239       382,393       412,175       313,140       275,537  
                                                                   
Operating Income
    49,249       23,821       137,261       136,583       189,595       180,472       247,959       225,728  
Interest Expense, net
    (36,679 )     (36,431 )     (111,762 )     (115,247 )     (153,207 )     (156,318 )     (156,248 )     (148,052 )
Interest and Other Income, net
    3,070       3,596       6,905       8,504       11,427       4,333       8,483       9,043  
Equity in Earnings (Loss) of Real Estate Joint Ventures and Partnerships, net (a)
    3,455       (4,763 )     9,321       2,783       5,548       12,196       19,853       14,655  
Gain (Loss) on Redemption of Convertible Senior Unsecured Notes
            16,453       (135 )     25,311       25,311       12,961                  
Gain on Land and Merchant Development Sales
            491               18,619       18,688       8,342       16,385       7,166  
Benefit (Provision) for Income Taxes
    20       (4,332 )     (155 )     (7,039 )     (6,337 )     10,220       (4,073 )     (1,366 )
Income (Loss) from Continuing Operations
    19,115       (1,165 )     41,435       69,514       91,025       72,206       132,359       107,174  
Operating (Loss) Income from Discontinued Operations
            (722 )     12       3,228       3,220       11,669       20,234       33,079  
Gain on Sale of Property from Discontinued Operations
            398       618       7,385       55,765       68,722       83,659       145,494  
(Loss) Income from Discontinued Operations
            (324 )     630       10,613       58,985       80,391       103,893       178,573  
Gain on Sale of Property
    126       994       968       12,374       25,266       1,998       4,086       22,493  
Net Income (Loss)
    19,241       (495 )     43,033       92,501       175,276       154,595       240,338       308,240  
Less:
Net Income Attributable to Noncontrolling Interests
    (1,712 )     (20 )     (3,093 )     (2,894 )     (4,174 )     (8,943 )     (10,237 )     (6,414 )
Net Income (Loss) Adjusted for Noncontrolling Interests
    17,529       (515 )     39,940       89,607       171,102       145,652       230,101       301,826  
Preferred Share Dividends
    (8,869 )     (8,869 )     (26,607 )     (26,607 )     (35,476 )     (34,711 )     (25,375 )     (10,101 )
Redemption Costs of Preferred Shares
                                            (1,850 )                
Net Income (Loss) Attributable to Common Shareholders
  $ 8,660     $ (9,384 )   $ 13,333     $ 63,000     $ 135,626     $ 109,091     $ 204,726     $ 291,725  
Earnings Per Common Share - Basic
  $ 0.07     $ (0.08 )   $ 0.11     $ 0.59     $ 1.24     $ 1.29     $ 2.39     $ 3.33  
Earnings Per Common Share - Diluted
  $ 0.07     $ (0.08 )   $ 0.11     $ 0.59     $ 1.23     $ 1.28     $ 2.35     $ 3.24  
                                                                   
(a) See Page 19 for the Company's pro rata share of the operating results of its unconsolidated real estate joint ventures and partnerships.
                                 


 
Page 3

 
 

Weingarten Realty Investors
 
Condensed Consolidated Balance Sheets
 
(in thousands, except per share amounts)
 
   
             
             
   
September 30,
   
December 31,
 
   
2010
   
2009
 
ASSETS
           
             
Property
  $ 4,709,820     $ 4,658,396  
Accumulated Depreciation
    (939,209 )     (856,281 )
Property, net
    3,770,611       3,802,115  
                 
Investment in Real Estate Joint Ventures and Partnerships, net (a)
    312,302       315,248  
Total
    4,082,913       4,117,363  
                 
Notes Receivable from Real Estate Joint Ventures and Partnerships
    187,594       317,838  
Unamortized Debt and Lease Costs, net
    109,498       103,396  
Accrued Rent and Accounts Receivable (net of allowance for doubtful accounts of $9,402 in 2010 and $10,380 in 2009)
    88,755       96,372  
Cash and Cash Equivalents
    31,814       153,584  
Restricted Deposits and Mortgage Escrows
    61,767       12,778  
Other, net
    247,740       89,054  
Total
  $ 4,810,081     $ 4,890,385  
                 
LIABILITIES AND EQUITY
               
                 
Debt, net
  $ 2,574,845     $ 2,531,847  
Accounts Payable and Accrued Expenses
    121,375       137,727  
Other, net
    103,231       114,155  
Total
    2,799,451       2,783,729  
                 
Commitments and Contingencies
               
                 
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 2010 and 2009; liquidation preference $75,000
    3       3  
6.95% Series E cumulative redeemable preferred shares of beneficial interest; 29 shares issued and outstanding in 2010 and 2009; liquidation preference $72,500
    1       1  
6.5% Series F cumulative redeemable preferred shares of beneficial interest; 140 shares issued and outstanding in 2010 and 2009; liquidation preference $350,000
    4       4  
Common Shares of Beneficial Interest - par value, $.03 per share; shares authorized: 275,000; shares issued and outstanding:  120,411 in 2010 and 120,098 in 2009
    3,625       3,615  
Accumulated Additional Paid-In Capital
    1,966,882       1,958,975  
Net Income Less Than Accumulated Dividends
    (117,850 )     (37,350 )
Accumulated Other Comprehensive Loss
    (22,273 )     (23,958 )
Shareholders' Equity
    1,830,392       1,901,290  
Noncontrolling Interests
    180,238       205,366  
Total Equity
    2,010,630       2,106,656  
Total
  $ 4,810,081     $ 4,890,385  
                 
                 
(a) This represents the Company's investment of its unconsolidated real estate joint ventures and partnerships. See page 19 for additional information.
 


 
Page 4

 


Weingarten Realty Investors
 
Supplemental Financial Data
 
(in thousands, except per share amounts)
 
                             
                             
                             
       
Three Months Ended
   
Nine Months Ended
 
       
September 30,
   
September 30,
 
       
2010
   
2009
   
2010
   
2009
 
Funds from Operations
                       
Numerator:
                       
   
Net income (loss) attributable to common shareholders
  $ 8,660     $ (9,384 )   $ 13,333     $ 63,000  
   
Depreciation and amortization
    35,261       35,646       105,449       109,446  
   
Depreciation and amortization of unconsolidated real estate joint ventures and partnerships
    4,850       4,850       14,795       13,415  
   
Gain on sale of property
    (114 )     (1,383 )     (1,575 )     (19,736 )
   
Loss (gain) on sale of property of unconsolidated real estate joint ventures and partnerships
                    1       (4 )
   
Funds from Operations - Basic and Diluted
  $ 48,657     $ 29,729     $ 132,003     $ 166,121  
   
Certain adjustments (1)
    4,941       29,611       21,252       21,484  
   
Funds from Operations before Certain Adjustments
  $ 53,598     $ 59,340     $ 153,255     $ 187,605  
                                     
Denominator:
                               
   
Weighted average shares outstanding - Basic
    119,978       119,384       119,899       106,186  
   
Effect of dilutive securities:
                               
   
Share options and awards
    839               811       559  
   
Operating partnership units
                               
   
Weighted average shares outstanding - Diluted
    120,817       119,384       120,710       106,745  
                                     
   
Funds from Operations per Share - Basic
  $ 0.41     $ 0.25     $ 1.10     $ 1.56  
                                     
   
Funds from Operations Per Share - Diluted
  $ 0.40     $ 0.25     $ 1.09     $ 1.56  
                                     
   
Growth in Funds from Operations per Share - Diluted
            60.0 %             -30.1 %
                                     
   
Funds from Operations before Certain Adjustments per Share - Diluted
  $ 0.44     $ 0.50     $ 1.27     $ 1.76  
                                     
   
                                     
Dividends
                               
Common Dividends per Share
  $ 0.260     $ 0.250     $ 0.780     $ 1.025  
                                     
Common Dividends Paid as a % of Funds from Operations
    64.3 %     100.7 %     71.1 %     63.7 %
   
                                     
General and Administrative Expenses
                               
General and Administrative Expenses/Total Revenue
    4.6 %     4.3 %     4.6 %     4.5 %
                                     
General and Administrative Expenses/Total Assets before Depreciation
    0.11 %     0.10 %     0.33 %     0.33 %
                                     
(1) Certain adjustments primarily consist of non-cash items for impairments from continuing operations, discontinued operations and our share of unconsolidated real estate joint ventures and partnerships, an impairment valuation allowance and the gain (loss) on redemption of convertible senior unsecured notes.  
 
The National Association of Real Estate Investment Trusts defines funds from operations as net income (loss) attributable 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 5

 


Weingarten Realty Investors
 
Supplemental Income Statement Detail
 
(in thousands)
 
                         
   
Three Months Ended
   
Nine Months Ended
 
   
September 30,
   
September 30,
 
   
2010
   
2009
   
2010
   
2009
 
Rentals, net
                       
Base minimum rent, net
  $ 104,515     $ 106,624     $ 311,297     $ 320,898  
Straight line rent
    1,466       1,641       6,004       5,975  
Over/Under-market rentals, net
    449       622       1,206       2,031  
Percentage rent
    1,359       1,833       3,352       3,733  
Tenant reimbursements
    26,854       27,455       82,184       84,923  
Total
  $ 134,643     $ 138,175     $ 404,043     $ 417,560  
   
Fee Income from Real Estate Joint Ventures and Partnerships
                               
Recurring
  $ 1,768     $ 1,510     $ 5,184     $ 4,664  
Non-Recurring
    30               30       63  
Total
  $ 1,798     $ 1,510     $ 5,214     $ 4,727  
   
Interest Expense, net
                               
Interest paid or accrued
  $ 37,581     $ 38,312     $ 115,346     $ 121,364  
Over-market mortgage adjustment of acquired properties, net
    (701 )     (984 )     (2,510 )     (3,089 )
Amortization of convertible bond discount
    536       538       1,655       4,426  
Gross interest expense
    37,416       37,866       114,491       122,701  
Capitalized interest
    (737 )     (1,435 )     (2,729 )     (7,454 )
Total
  $ 36,679     $ 36,431     $ 111,762     $ 115,247  
   
Interest and Other Income, net
                               
Interest income from joint ventures (primarily construction loans)
  $ 960     $ 1,204     $ 3,313     $ 3,238  
Deferred compensation interest income
    1,030       1,485       659       2,584  
Other
    1,080       907       2,933       2,682  
Total
  $ 3,070     $ 3,596     $ 6,905     $ 8,504  
   
                                 
Supplemental Analyst Information
                               
                                 
Net Operating Income including Joint Ventures
                               
Revenues
  $ 139,039     $ 143,073     $ 414,936     $ 429,822  
Operating expense
    (25,456 )     (25,506 )     (77,154 )     (75,310 )
Real estate taxes
    (15,653 )     (18,100 )     (48,976 )     (54,472 )
Total
    97,930       99,467       288,806       300,040  
                                 
Net Operating Income from Discontinued Operations
            2,943       19       10,582  
                                 
Minority Interests Share of Net Operating Income and Other Adjustments
    (6,856 )     (6,628 )     (18,907 )     (17,644 )
Pro rata Income From Consolidated Ventures
    91,074       95,782       269,918       292,978  
                                 
Pro rata share of Unconsolidated Joint Ventures
                               
Revenues
    14,600       13,322       43,854       40,769  
Operating expense
    (2,494 )     (2,920 )     (7,499 )     (7,660 )
Real estate taxes
    (1,664 )     (1,592 )     (5,477 )     (5,010 )
Total
    10,442       8,810       30,878       28,099  
                                 
Net Operating Income including Joint Ventures
  $ 101,516     $ 104,592     $ 300,796     $ 321,077  
   
Equity in Earnings of Real Estate Joint Ventures and Partnerships, net
                               
Net income (loss) from unconsolidated real estate joint ventures and partnerships
  $ 2,410     $ (6,300 )   $ 5,786     $ (1,743 )
Intercompany fee income reclass
    1,301       1,619       4,359       4,584  
Other adjustments
    (256 )     (82 )     (824 )     (58 )
Equity in earnings (loss) of real estate joint ventures and partnerships, net
  $ 3,455     $ (4,763 )   $ 9,321     $ 2,783  


 
Page 6

 


Weingarten Realty Investors
 
Supplemental Balance Sheet Detail
 
(in thousands)
 
             
   
September 30,
   
December 31,
 
   
2010
   
2009
 
Property
           
Land
  $ 910,625     $ 896,010  
Land held for development
    179,779       182,586  
Land under development
    26,952       32,709  
Buildings and improvements
    3,546,295       3,437,578  
Construction in-progress
    46,169       109,513  
Total
  $ 4,709,820     $ 4,658,396  
   
                 
Straight Line Rent Receivable
  $ 56,968     $ 51,465  
   
                 
Other Assets, net
               
Notes receivable and mortgage bonds, net
  $ 89,752     $ 45,922  
Debt service guaranty asset
    97,000          
Non-qualified benefit plan assets
    14,060       13,897  
Out-of-market rentals, net
    5,832       5,807  
Deferred income tax asset
    12,025       11,434  
Interest rate derivative
    18,732       2,601  
Other
    10,339       9,393  
Total
  $ 247,740     $ 89,054  
   
                 
Other Liabilities, net
               
Deferred revenue
  $ 18,675     $ 18,806  
Non-qualified plan benefit liabilities
    36,686       37,205  
Deferred income tax payable
    6,464       6,993  
Out-of-market rentals, net
    12,687       15,157  
Interest rate derivative
    419       4,634  
Other
    28,300       31,360  
Total
  $ 103,231     $ 114,155  
   
                 
Identified Intangible Assets and Liabilities
               
Identified Intangible Assets:
               
Above-market leases (included in Other Assets, net)
  $ 15,990     $ 17,278  
Above-market leases - Accumulated Amortization
    (10,158 )     (11,471 )
Below-market assumed Mortgages (included in Debt, net)
    4,051       2,072  
Below-market assumed Mortgages - Accumulated Amortization
    (1,048     (805
Valuation of in place leases (included in Unamortized Debt and Lease Costs, net)
    62,205       57,610  
Valuation of in place leases - Accumulated Amortization
    (34,745 )     (32,361 )
Total
  $ 36,295     $ 32,323  
                 
Identified Intangible Liabilities:
               
Below-market leases (included in Other Liabilities, net)
  $ 35,474     $ 36,951  
Below-market leases - Accumulated Amortization
    (22,787 )     (21,794 )
Above-market assumed mortgages (included in Debt, net)
    47,764       52,171  
Above-market assumed mortgages - Accumulated Amortization
    (30,617     (31,329
Total
  $ 29,834     $ 35,999  


 
Page 7

 


Weingarten Realty Investors
 
Capitalization and Coverage Ratios
 
(in thousands, except common share data and percentages)
 
             
   
September 30,
   
December 31,
 
   
2010
   
2009
 
             
Common Share Data
           
Closing Market Price
  $ 21.82     $ 19.79  
                 
Dividend Yield
    4.77 %     5.05 %
                 
90-Day, Average Daily Trading Volume
    1,221,218       1,407,967  
   
Capitalization (As reported)
               
Debt
  $ 2,574,845     $ 2,531,847  
Preferred Shares
    497,500       497,500  
Common Shares at Market
    2,627,368       2,376,739  
Operating Partnership Units at Market
    35,938       33,445  
Total Market Capitalization
  $ 5,735,651     $ 5,439,531  
                 
Debt to Total Market Capitalization
    44.9 %     46.5 %
                 
Capitalization (Pro rata)
               
Debt
  $ 2,439,480     $ 2,486,535  
Preferred Shares
    497,500       497,500  
Common Shares at Market
    2,627,368       2,376,739  
Operating Partnership Units at Market
    35,938       33,445  
Total Market Capitalization
  $ 5,600,286     $ 5,394,219  
                 
Debt to Total Market Capitalization
    43.6 %     46.1 %
   
Capital Availability
               
Revolving Credit Facility
  $ 500,000     $ 575,000  
Less:
               
Balance Outstanding Under Revolving Credit Facility
               
Balance Outstanding Under Unsecured Overnight Facility
    50,000          
Outstanding Letters of Credit Under Revolving Facility
    8,330       7,185  
Unused Portion of Credit Facility
  $ 441,670     $ 567,815  
   
Coverage Ratios (at Pro rata Share trailing 4 quarters)
               
Fixed Charge Coverage
    2.06 x     2.19 x
Interest Coverage
    2.46 x     2.61 x
Debt Service Coverage
    2.33 x     2.47 x
   
Net Debt to Adjusted EBITDA
    6.46 x     6.04 x
Debt, net of cash and cash equivalents. EBITDA adjusted for gain/loss on sale of real estate and other non-cash items, primarily impairments.
 
   
                 
Credit Ratings
 
S&P
   
Moody's
 
Senior Debt
 
BBB
   
Baa2
 
Preferred Shares
 
BB+
   
Baa3
 
Outlook
 
Negative
   
Stable
 


 
Page 8

 


                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
Investment Activity
 
 
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       


 
 

 


Weingarten Realty Investors
 
New Development Properties (By Stabilization)
 
As of September 30, 2010
 
(in thousands at pro rata share, except percentages)
 
                                       
 
                   
               
 
                           
 
         
 
       
                      Total Square                 Pro     Pro      Total           YTD  
                      Feet of     Percent Leased     Rata      Rata     Estimated     Est.     2010  
                WRI     Building     Net           Spent      Spent     Investment (2)     Final     Pro  
                Own     Area (1)     @          
Year-To-
    Inception     WRI     Gross     ROI     Rata  
   
Center Name
 
Location
 
Anchors
 
%
   
Gross
   
Net
    100%    
Gross
   
Date
   
to Date
   
Costs
   
Costs
   
%
   
NOI $
 
                                                                               
UNDER DEVELOPMENT
                                                                       
                                                                               
1  
Clermont Landing Phase 1*
 
Clermont, Florida
 
JC Penney #, Epic Theater #, TJ Maxx, Ross
  55.0 %   303     80     81.8 %   91.3 %     254       14,404       14,449       26,271              
2  
ClayPoint Distribution Park (Industrial)
 
Houston, Texas
 
Pioneer, Packaging Corp. of America
  100.0 %   359     158     64.1 %   84.2 %     143       7,661       8,853       8,853              
3  
Ridgeway Trace Center Phase 1
 
Memphis, Tennessee
 
Target #, Sports Authority, Best Buy
  100.0 %   228     90     100.0 %   100.0 %     5,303       24,742       26,845       26,845              
   
Total 2010 Stabilizations
                890     328     78.8 %   90.6 %   $ 5,700     $ 46,807     $ 50,147     $ 61,969     7.4 %   $ 1,594  
                                                                                         
1  
Gardens on Havana*
 
Aurora (Denver), Colorado
 
Kohl's, Target, Dick's Sporting Goods, Sprouts
  39.8 %   427     170     91.3 %   91.3 %     564       22,992       15,917       40,004                
2  
Waterford
 
Leland (Wilmington), North Carolina
 
Harris Teeter
  100.0 %   95     90     86.4 %   87.1 %     322       13,431       14,296       14,296                
   
Total 2011 Stabilizations
                522     260     90.5 %   90.6 %   $ 885     $ 36,423     $ 30,214     $ 54,300     7.6 %   $ 1,291  
                                                                                         
1  
Ridgeway Trace Center Phase 2
 
Memphis, Tennessee
 
Target #, Sports Authority, Best Buy
  100.0 %   82     82     26.2 %   26.2 %     2,982       13,725       22,195       22,195                
2  
Surf City Crossing
 
Surf City (Wilmington), North Carolina
 
Harris Teeter
  100.0 %   75     63     85.2 %   77.4 %     2,490       5,783       7,668       7,668                
3  
Tomball Marketplace
 
Tomball, Texas
 
Academy#
  100.0 %   147     62     24.9 %   68.4 %     124       13,484       14,959       14,959                
4  
Westwood Center
 
San Antonio, Texas
 
Wal-Mart #
  100.0 %   305     70     29.4 %   79.1 %     448       16,253       15,308       15,308                
5  
Clermont Landing Phase 2*
 
Clermont, Florida
 
JC Penney #, Epic Theater #, TJ Maxx, Ross
  55.0 %   63     19     33.2 %   62.8 %     28       4,520       3,376       6,138                
6  
North Towne Plaza
 
Brownsville, Texas
 
Lowes#
  100.0 %   153     36     22.2 %   81.7 %     209       4,629       6,113       6,113                
7  
Riverpoint at Sheridan
 
Sheridan (Denver), Colorado
 
Costco #, Target #, Regal Cinema
  50.0 %   502     86     56.9 %   85.2 %     1,005       58,240       20,305       40,610                
   
Total 2012 and Thereafter Stabilizations
        1,327     418     44.0 %   76.4 %   $ 7,286     $ 116,634     $ 89,923     $ 112,990     7.5 %   $ 107  
   
Total 10 Properties Under Development (exclusive of phasing)
        2,739     1,006     70.4 %   83.7 %   $ 13,871     $ 199,864     $ 170,284     $ 229,259     7.5 %   $ 2,992  
 
*  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 anticipated proceeds from land sales and tax incentive financing of approximately $23 million at pro rata share ($25 million at 100%)  
Note:  Phased properties are counted as one property
 


 
Page 10

 


Weingarten Realty Investors
Land Held for Development
As of September 30, 2010
(in thousands, except acres and percentages)
                     
                     
   
Ownership
   
Gross
   
Investment (1)
Location
 
Interest
   
Acres
    100%  
Pro Rata
                     
FM 1957 (Potranco Rd) and FM 211, San Antonio
  50.0 %   198.7          
South Fulton Parkway and SH 92, Union City - Atlanta
  50.0 %   81.6          
US Hwy 1 and Caveness Farms Road, Wake Forest - Raleigh
  100.0 %   70.6          
Rock Prairie Rd. at Hwy. 6, College Station
  100.0 %   76.9          
Highway 17 and Highway 210, Surf City
  100.0 %   46.5          
Shary Road and US Hwy 83, Mission
  50.0 %   36.9          
FM 2920 and Future 249, Tomball - Houston
  100.0 %   33.7          
SH 281 & Wilderness Oaks, San Antonio, TX
  100.0 %   29.2          
Decatur at 215 - Las Vegas
  100.0 %   25.3          
US Hwy 15-501 & Bruce Wood Rd., Southern Pines, NC
  100.0 %   24.0          
Hwy 85 & Hwy 285, Sheridan, CO
  50.0 %   23.0          
US 77 & FM 802, Brownsville, TX
  100.0 %   21.9          
Mississippi at Havana, Aurora - Denver
  39.8 %   15.4          
US Hwy 17 & US Hwy 74/76, Leland
  100.0 %   12.6          
Creedmoor (Highway 50) and Crabtree Valley Avenue, Raleigh
  100.0 %   11.7          
Bear Valley Road at Jess Ranch Parkway, Apple Valley III
  50.0 %   10.9          
Lon Adams Rd at Tangerine Farms Rd  - Tuscan
  50.0 %   9.7          
Culebra Road and Westwood Loop, San Antonio
  100.0 %   9.3          
SH 151 & Ingram Rd, San Antonio, TX
  66.7 %   8.5          
South 300 West & West Paxton Avenue, Salt Lake City, UT
  31.8 %   7.5          
State Hwy 95 & Bullhead Pkwy, Bullhead City, AZ
  100.0 %   7.2          
Belle Terre Pkwy & State Rd 100, Palm Coast, FL
  50.0 %   6.7          
SR 207 & Rolling Hills Drive, St. Augustine, FL
  70.0 %   5.2          
SEC Poplar Ave at I-240, Memphis, TN
  100.0 %   1.2          
29th St at Nolana Loop, McAllen, TX
  50.0 %   3.8          
Bear Valley Road at Jess Ranch Parkway, Apple Valley II
  50.0 %   3.2          
Young Pines and Curry Ford Rd, Orange County, Florida - Orlando
  100.0 %   3.0          
Leslie Rd. at Bandera Rd., Helotes
  100.0 %   1.7          
Southern Ave & Signal Butte Rd, Mesa, AZ
  100.0 %   2.1          
Other (2)
  100.0 %   39.5          
Total Land Held For Development Properties
        827.5     206,172  
 $          159,922
                     
(1) Net of impairment adjustments and valuation adjustments due to consolidation of joint ventures made in 2008, 2009 and 2010.
(2) Primarily represents land parcels held by WRI for many years that have never been reported as new development assets.
                     
Note: Land costs account for $163.6 million of total investment at 100%, $127.2 million at pro rata share.
   


 
Page 11

 

Weingarten Realty Investors
 
Disposition and Acquisition Summary
 
For the Period Ended September 30, 2010
 
(in thousands at pro rata share)
 
                         
       
Sq. Ft. of
           
Weighted
 
       
Bldg. Area
 
Date
 
Sales
   
Sales
 
Center
 
City/State
 
at 100%
 
Sold
 
Proceeds
   
Cap
 
                         
Dispositions
                       
                         
1st Quarter
                       
Crestview - Pad
 
Houston, TX
  -  
2/17/10
           
Jess Ranch Marketplace - Bank of America
 
Apple Valley, CA
  5  
3/22/10
           
Tate's Creek Centre - McDonald's
 
Lexington, KY
  5  
3/25/10
           
                         
2nd Quarter
                       
Southgate Shopping Center - Controlled Fluids
 
Beaumont, TX
  25  
4/15/10
           
Southgate Shopping Center - Phase II
 
Beaumont, TX
  8  
5/20/10
           
Jess Ranch - Red Robin
 
Apple Valley, CA
  6  
6/15/10
           
                         
3rd Quarter
                       
Palm Coast Landing - Red Lobster/Olive Garden
 
Palm Coast, FL
  -  
8/6/10
           
                         
Total Dispositions
              $ 5,537     6.70 %
                           
                           
           
Date
 
Purchase
       
           
Acquired
 
Price
   
Yield
 
                           
Acquisitions
                         
                           
2nd Quarter
                         
Crosswinds Distribution Center
 
San Antonio, TX
  142  
05/26/10
             
                           
3rd Quarter
                         
Jupiter Business Park
 
Plano, TX
  190  
08/10/10
             
Hope Valley Commons
 
Durham, NC
  81  
08/31/10
             
                           
                           
Total Acquisitions
              $ 28,250     7.10 %



 
Page 12

 


Weingarten Realty Investors
 
Property Investment Summary
 
(in thousands at pro rata share)
 
                                                   
                                                   
                            Remodels/                      
                           
Existing
                     
         
New
   
Major
   
Tenant
   
Development
     
Leasing/
   
All
       
   
Acquisitions
   
Development
   
Repairs
   
Finish
   
(1)
     
Broker Fees
   
Other
   
Total
 
                                                   
Quarter Ended 3/31/2010
        $ 5,183     $ 367     $ 9,496     $ 4,386       $ 4,658     $ 360     $ 24,450  
Quarter Ended 6/30/2010
  $ 7,809       4,347       2,614       7,183       1,410         4,658       28       28,049  
Quarter Ended 9/30/2010
    20,515       4,341       4,151       3,729       3,389         4,111       64       40,301  
Nine Months Ended 09/30/2010
  $ 28,325     $ 13,871     $ 7,133     $ 20,407     $ 9,185       $ 13,427     $ 451     $ 92,800  
                                                                   
Year Ended 12/31/2009
            71,167       10,469       21,672       23,455         20,600       10,507       157,870  
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  
                                                                   
                                                                   
(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 13

 


                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
Summary of Debt
 
 
                       
                       
                       
                       
                       
                       
                       
                       
                       
                   
                       
                   
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       


 
 

 


Weingarten Realty Investors
 
Debt Information
 
(in thousands, except percentages)
 
                           
                           
           
3rd Quarter
         
4th Quarter
 
     
September 30,
   
Weighted
   
December 31,
   
Weighted
 
     
2010
   
Average Rate (1)
   
2009
   
Average Rate (1)
 
Outstanding Balance Summary
                       
Mortgage Debt
  $ 1,133,540       6.41 %   $ 1,197,234       6.55 %
7% 2011 Bonds
    117,670       7.00 %     117,670       7.00 %
3.95% Convertible Bonds (2)
    129,397       3.95 %     131,603       3.95 %
8.1% 2019 Notes
    100,000       8.10 %     100,000       8.10 %
Unsecured Notes Payable
    921,683       5.38 %     959,562       5.64 %
Revolving Credit Agreements (3)
    50,000       1.75 %             0.84 %
Industrial Revenue Bonds
    2,440       2.09 %     2,663       2.33 %
Obligations under Capital Leases
    23,115       6.88 %     23,115       5.55 %
 
Subtotal Consolidated Debt
    2,477,845       5.72 %     2,531,847       5.93 %
Debt Service Guarantee Liability (4)
    97,000                          
 
Total Consolidated Debt - As Reported
    2,574,845       5.72 %     2,531,847       5.93 %
Less: Noncontrolling Interest
    (261,590 )             (209,458 )        
Plus: WRI Share of Unconsolidated Joint Ventures
    126,225               164,146          
 
Total Debt - Pro rata Share
  $ 2,439,480       5.74 %   $ 2,486,535       5.96 %
   
                             
Weighted
 
             
3rd Quarter
           
Average
 
     
Debt
   
Weighted
           
Remaining
 
     
Balance
   
Average Rate (1)
   
% of Total
   
Life (yrs)
 
Fixed vs. Variable Rate Debt (at Pro rata Share)
                               
(includes the effect of interest rate swaps)
                               
                                   
As of September 30, 2010
                               
Fixed-rate debt
  $ 1,918,999       6.14 %     78.7 %     6.08  
Variable-rate debt
    520,481       4.13 %     21.3 %     3.18  
 
Total
  $ 2,439,480       5.74 %     100.0 %     5.46  
                                   
As of December 31, 2009
                               
Fixed-rate debt
  $ 2,100,080       6.28 %     84.5 %        
Variable-rate debt
    386,455       2.76 %     15.5 %        
 
Total
  $ 2,486,535       5.96 %     100.0 %        
   
Secured vs. Unsecured Debt (at Pro rata Share)
                               
                                   
As of September 30, 2010
                               
Secured Debt
  $ 1,053,629       6.51 %     43.2 %     5.30  
Unsecured Debt
    1,385,851       5.12 %     56.8 %     5.58  
 
Total
  $ 2,439,480       5.74 %     100.0 %     5.46  
                                   
As of December 31, 2009
                               
Secured Debt
  $ 1,141,875       6.62 %     45.9 %        
Unsecured Debt
    1,344,660       5.42 %     54.1 %        
 
Total
  $ 2,486,535       5.96 %     100.0 %        
   
     
As
   
Pro rata
                 
     
Reported
   
Share
                 
Weighted Average Interest Rates (1)
                               
Three months ended 09/30/10
    5.72 %     5.74 %                
Three months ended 12/31/09
    5.93 %     5.96 %                
Twelve months ended 12/31/09
    5.59 %     5.61 %                
                                   
(1)
Weighted average interest rates exclude the effects of ASC 805 " Business Combinations", discounts on convertible bond repurchases, revolver facility fee, and other loan costs related to financing.
 
                                   
(2)
The convertible bonds, with a face value of $131.3 million, 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 excludes the effect of the facility fee of 50 and 15 basis points on the total commitment paid quarterly in arrears for third quarter 2010 and fourth quarter 2009, respectively. The weighted average revolving interest rate with the facility fee is 24.32% and 3.05% for the third quarter 2010 and the fourth quarter 2009, respectively.
 
     
(4)
Debt service guarantee liability represents bonds issued in association with a guarantee in connection with a project in Denver, Colorado.
         


 
Page 15

 


Weingarten Realty Investors
 
Schedule of Maturities
 
As of September 30, 2010
 
(in thousands, except percentages)
 
                                                         
                                                         
                                                         
                                                         
                 
   
As Reported
       
Pro rata Share
 
         
Weighted
             
Weighted
                             
          Average               Average                              
   
Maturities
   
Rate (4)
       
Maturities
   
Rate (4)
       
Floating Rate
   
Fixed Rate
   
Secured
   
Unsecured
 
2010  (1)
  $ 19,164       6.93 %       $ 20,118       6.94 %       $ 2,440     $ 17,678     $ 9,188     $ 10,930  
2011  (2)
    218,812       6.73 %         229,745       6.76 %         86       229,659       102,110       127,635  
2012
    307,647       5.73 %         312,246       5.79 %         4,938       307,308       128,986       183,260  
2013
    440,829       6.02 %         334,232       5.91 %         25,980       308,252       160,641       173,591  
2014
    389,662       5.46 %         406,470       5.53 %         2,115       404,355       91,470       315,000  
2015
    248,404       6.32 %         214,759       6.25 %                 214,759       124,759       90,000  
2016
    209,209       6.46 %         228,509       6.58 %                 228,509       153,509       75,000  
2017
    124,488       6.85 %         141,476       7.09 %                 141,476       116,476       25,000  
2018
    64,411       7.18 %         23,228       6.91 %                 23,228       13,658       9,570  
2019
    153,747       7.94 %         154,989       7.87 %                 154,989       54,989       100,000  
Thereafter  (2)
    201,949       4.91 %         210,847       5.04 %                 210,847       47,860       162,987  
Subtotal
    2,378,322                   2,276,619                   35,559       2,241,060       1,003,646       1,272,973  
                                                                         
Revolving Credit Agreements
    50,000       1.75 %   (5)     50,000       1.75 %   (5)     50,000                       50,000  
Other  (3)
    146,523                   112,861                   18,603       94,258       49,983       62,878  
Swap Maturities:
                                                                       
2012
                                            86,600       (86,600 )                
2013
                                            94,000       (94,000 )                
2014
                                            165,000       (165,000 )                
2017
                                            70,719       (70,719 )                
Total
  $ 2,574,845       5.78 %       $ 2,439,480       5.80 %       $ 520,481     $ 1,918,999     $ 1,053,629     $ 1,385,851  
                                                                         
                                                                         
 
(1) 
Includes $2.0 million of amortizing industrial revenue bonds with a final maturity date of 2015 that are currently callable by the lender.
(2)
Thereafter includes $131.3 million of convertible bonds maturing in 2026 which has a 5 year call and put option in 2011.
(3)
Other includes capital leases, ASC 805 " Business Combinations" adjustment, debt service guarantee liability, market value of swaps and discounts on notes.  The debt service guarantee liability represents bonds issued in association with a guarantee in connection with a project in Denver, Colorado.
(4)
Weighted average interest rates exclude the effects of ASC 805 " Business Combinations", discounts on convertible bond repurchases, revolver facility fee, and other loan costs related to financing.
(5)
Weighted average revolving interest rate excludes the effect of the facility fee of 50 basis points on the total commitment paid quarterly in arrears.


 
Page 16

 


                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
Joint Ventures
 
 
                       
                       
                       
                       
                       
                       
                       
                       
                       
                   
                       
                   
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       


 
 

 


Weingarten Realty Investors
 
Financial Statements of Unconsolidated Real Estate Joint Ventures and Partnerships at 100%
 
(in thousands)
 
                         
                   
                   
   
Three Months Ended
   
Nine Months Ended
 
   
September 30,
   
September 30,
 
Condensed Statements of Income
 
2010
   
2009
   
2010
   
2009
 
                         
Revenues:
                       
Base minimum rent, net
  $ 35,262     $ 30,334     $ 105,211     $ 91,550  
Straight line rent
    744       1,418       2,155       3,192  
Over/Under-market rentals, net
    2,006       1,602       3,620       4,709  
Percentage rent
    142       340       545       709  
Tenant reimbursements
    8,788       7,115       27,666       23,735  
Other income
    1,060       1,428       3,412       4,366  
Total
    48,002       42,237       142,609       128,261  
                                 
Expenses:
                               
Depreciation and amortization
    15,087       14,204       45,730       40,702  
Interest, net
    8,613       7,871       26,754       22,470  
Operating
    8,296       8,507       24,441       23,612  
Real estate taxes, net
    5,529       5,084       18,008       15,915  
General and administrative
    1,027       1,581       3,069       4,144  
Impairment loss
            6,923       231       6,923  
Total
    38,552       44,170       118,233       113,766  
                                 
Gain on land and merchant development sales
    184               184          
(Loss) gain on sale of property
                    (3 )     11  
                                 
Net income (loss)
  $ 9,634     $ (1,933 )   $ 24,557     $ 14,506  
                                 
   
                                 
Condensed Balance Sheets
                               
                   
September 30,
   
December 31,
 
                    2010     2009  
ASSETS
                               
                                 
Property
                  $ 1,985,098     $ 2,082,316  
Accumulated depreciation
                    (234,315 )     (191,478 )
Property, net
                    1,750,783       1,890,838  
                                 
Other assets, net
                    150,267       240,387  
                                 
Total
                  $ 1,901,050     $ 2,131,225  
                                 
                                 
LIABILITIES AND SHAREHOLDERS' EQUITY
                               
                                 
Debt, net
                  $ 442,212     $ 505,462  
Amounts payable to Weingarten Realty Investors
              204,525       335,622  
Other liabilities, net
                    51,718       88,913  
Total
                    698,455       929,997  
                                 
Accumulated equity
                    1,202,595       1,201,228  
                                 
Total
                  $ 1,901,050     $ 2,131,225  


 
Page 18

 


Weingarten Realty Investors
 
Financial Statements of Unconsolidated Real Estate Joint Ventures and Partnerships at Pro rata Share
 
(in thousands)
 
                         
                         
                         
   
Three Months Ended
   
Nine Months Ended
 
   
September 30,
   
September 30,
 
Condensed Statements of Income
 
2010
   
2009
   
2010
   
2009
 
                         
Revenues:
                       
Base minimum rent, net
  $ 10,725     $ 9,527     $ 31,945     $ 28,718  
Straight line rent
    267       472       957       1,144  
Over/Under-market rentals, net
    403       323       733       957  
Percentage rent
    58       168       198       316  
Tenant reimbursements
    2,648       2,195       8,493       7,620  
Other income
    499       637       1,528       2,014  
Total
    14,600       13,322       43,854       40,769  
                                 
Expenses:
                               
Depreciation and amortization
    4,850       4,850       14,795       13,415  
Interest, net
    2,815       2,796       8,908       7,812  
Operating
    2,494       2,920       7,499       7,660  
Real estate taxes, net
    1,664       1,592       5,477       5,010  
General and administrative
    458       717       1,363       1,872  
Impairment loss
            6,747       116       6,747  
Total
    12,281       19,622       38,158       42,516  
                                 
Gain on land and merchant development sales
    91               91          
(Loss) gain on sale of property
                    (1 )     4  
                                 
Net income (loss)
  $ 2,410     $ (6,300 )   $ 5,786     $ (1,743 )
   
                                 
Condensed Balance Sheets
                               
                   
September 30,
   
December 31,
 
                    2010     2009  
ASSETS
                               
                                 
Property
                  $ 557,828     $ 625,714  
Accumulated depreciation
                    (80,009 )     (67,170 )
Property, net
                    477,819       558,544  
Notes receivable from real estate joint ventures and partnerships
                    5,600       5,712  
Unamortized debt and lease costs, net
                    12,166       13,297  
Accrued rent and accounts receivable (net of allowance for doubtful accounts of $532 in 2010 and $709 in 2009)
              15,137       15,441  
Cash and cash equivalents
                    13,511       15,230  
Restricted deposits and mortgage escrows
                    1,915       1,757  
Notes receivable and mortgage bonds, net
                    364       41,356  
Out-of-market rentals, net
                    510       588  
Interest rate derivative
                            124  
Other assets, net
                    2,404       5,125  
Total
                  $ 529,426     $ 657,174  
                                 
LIABILITIES AND SHAREHOLDERS' EQUITY
                               
                                 
Debt, net
                  $ 126,329     $ 164,146  
Amounts payable to Weingarten Realty Investors
                    92,789       159,141  
Accounts payable and accrued expenses
                    6,310       6,419  
Deferred revenue
                    1,574       1,331  
Out-of-market rentals, net
                    3,629       4,395  
Interest rate derivative
                    757          
Other liabilities, net
                    1,433       23,257  
Total
                    232,821       358,689  
                                 
Accumulated equity
                    296,605       298,485  
                                 
Total
                  $ 529,426     $ 657,174  
                                 
                                 
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 19

 


Weingarten Realty Investors
 
Investments in Unconsolidated Real Estate Joint Ventures & Partnerships
 
September 30, 2010
 
(in thousands, except number of properties and percentages)
 
                                                 
                               
                           
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       1,259     $ 325,209             20.0 %         $ 63,339     $ 1,814  
AEW SRP, LLC
    10       895       164,096     $ 104,384       25.0 %   $ 26,096       12,305       (6 )
Collins
    8       1,118       148,767       29,202       50.0 %     14,601       52,503       1,482  
AEW - Institutional Client
    6       523       134,368       67,600       20.0 %     13,520       12,692       323  
BIT Retail
    3       715       155,251       -       20.0 %     -       30,040       831  
BIT Investment Thirty-Six, LP
    12       4,068       218,851       20,692       20.0 %     4,138       32,825       423  
Eagle AN, LP
    7       2,049       52,552       33,469       20.0 %     6,694       (0 )     70  
Jamestown
    6       1,342       153,533       94,461       20.0 %     18,892       11,345       756  
                                                                 
Other
    27       4,028       548,424       92,405       45.9 %     42,388       97,253       3,628  
                                                                 
Total
    86       15,997     $ 1,901,050     $ 442,212       27.5 %   $ 126,329     $ 312,302     $ 9,321  
                                                                 
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
         
Jamestown
 
Retail joint venture in Florida
                                                 
                                                                 
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 20

 


Weingarten Realty Investors
 
Mortgage Debt Information for Unconsolidated Joint Ventures & Partnerships
 
As of September 30, 2010
 
                         
Balance Summary
 
                         
Joint Venture Partner
 
# of Mortgaged Properties
   
Mortgage Balance
(in thousands)
(1)
   
Average
Interest Rate
(2)
   
Average
Remaining
Term (yrs)
 
                         
AEW SRP, LLC
    7     $ 104,384       5.7 %     5.3  
Collins
    2       29,202       6.2 %     10.9  
AEW - Institutional Client
    6       67,600       5.7 %     3.4  
BIT Investment Thirty-Six, LP
    3       20,692       6.6 %     1.6  
Eagle AN, LP
    1       33,469       5.4 %     9.8  
Jamestown
    6       94,461       5.7 %     4.3  
Other
    6       91,861       5.7 %     3.5  
                                 
Total
    31     $ 441,668       5.8 %     4.5  
   
                                 
Schedule of Maturities
 
                                 
   
At 100%
   
At WRI Share
 
   
Maturities
(in thousands)
(1)
   
Weighted
Average Rate
(2)
   
Maturities
(in thousands)
(1)
   
Weighted
Average Rate
(2)
 
                                 
2010
  $ 4,712       5.8 %   $ 1,114       5.9 %
2011
    41,120       5.7 %     12,806       5.7 %
2012
    31,505       5.7 %     7,939       5.7 %
2013
    53,098       5.6 %     17,761       5.7 %
2014
    102,685       5.6 %     22,254       5.7 %
2015
    38,029       5.7 %     8,566       5.8 %
2016
    77,186       5.7 %     20,302       5.8 %
2017
    47,287       5.8 %     20,814       6.0 %
2018
    2,915       5.7 %     1,169       5.9 %
2019
    3,092       5.7 %     1,242       5.9 %
Thereafter
    40,039       6.3 %     12,258       6.3 %
Total
  $ 441,668             $ 126,225          
                                 
 
(1)
Excludes non-cash debt related items.
(2)
Average and weighted average interest rates exclude the effects of ASC 805 " Business Combinations" and loan costs related to financing.
 
Note: All mortgages are fixed rate except for one included in "other", which has a variable rate mortgage ($3.4 million at 100%) and matures in 2012.


 
Page 21

 


                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
Portfolio Summary
 
 
                       
                       
                       
                       
                       
                       
                       
                       
                       
                   
                       
                   
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       


 
 

 


Weingarten Realty Investors
 
Tenant Diversification by Percent of Rental Revenues
 
(in thousands at pro rata share, except percentages and # of units)
 
                           
                           
                           
           
# of Units
   
Rental
   
Square
 
Rank
 
Tenant Name
 
DBAs
 
Revenue
   
Feet
 
                           
  1  
The Kroger Co.
 
Kroger, Smith Food, Ralphs, Fry's Food, King Soopers
  26     2.22 %   1,203  
                             
  2  
T.J.X. Companies, Inc.
 
T.J. Maxx, Marshalls, Home Goods
  36     1.92 %   815  
                             
  3  
Ross Stores, Inc.
 
Ross Dress for Less
  35     1.80 %   721  
                             
  4  
Safeway, Inc.
 
Safeway, Randalls, Von's
  17     1.21 %   718  
                             
  5  
Home Depot, Inc.
 
 
  6     1.11 %   669  
                             
  6  
Petsmart, Inc.
 
 
  19     1.03 %   341  
                             
  7  
Office Depot, Inc.
 
 
  24     1.03 %   453  
                             
  8  
Barnes & Noble Inc.
 
Barnes & Noble, Bookstop Booksellers
  11     0.89 %   254  
                             
  9  
Gap, Inc.
 
Gap, Old Navy, Banana Republic
  19     0.88 %   281  
                             
  10  
The Sports Authority
      9     0.83 %   326  
                             
  11  
Dollar Tree Stores, Inc.
 
Dollar Tree, Greenbacks
  40     0.83 %   346  
                             
  12  
Publix Super Markets, Inc.
 
 
  22     0.80 %   485  
                             
  13  
24 Hour Fitness Inc.
      7     0.80 %   179  
                             
  14  
Harris Teeter
 
 
  8     0.79 %   348  
                             
  15  
Petco Animal Supplies, Inc.
 
 
  21     0.73 %   228  
                             
  16  
Bed Bath & Beyond, Inc.
 
 
  17     0.70 %   326  
                             
  17  
Whole Foods
      6     0.69 %   218  
                             
  18  
Raley's
 
Raley's Bel Air Markets
  6     0.69 %   331  
                             
  19  
Staples
 
 
  13     0.67 %   266  
                             
  20  
H E Butt Grocery
 
 
  6     0.65 %   291  
                             
  21  
Toys 'R' Us
 
Toys R Us
  9     0.64 %   312  
                             
  22  
Best Buy, Inc.
 
 
  10     0.62 %   225  
                             
  23  
Office Max Inc.
 
 
  11     0.61 %   250  
                             
  24  
Blockbuster Video
 
 
  29     0.59 %   136  
                             
  25  
Food Lion
      8     0.51 %   310  
                             
     
Total
      415     23.23 %   10,033  


 
Page 23

 


Weingarten Realty Investors
Portfolio Operating Information
(in thousands at pro rata share, except percentages and # of units and leases)
                         
Lease Expirations
           
As of September 30, 2010
 
Shopping Center
 
Industrial
 
Total
   
Percentage of
 
Percentage of
 
Percentage of
Year Expiring
 
Sq. Ft.
 
Revenue
 
Sq. Ft.
 
Revenue
 
Sq. Ft.
 
Revenue
2010
 
1.82%
 
1.98%
 
4.55%
 
4.32%
 
2.52%
 
2.24%
2011
 
12.26%
 
13.25%
 
14.88%
 
17.07%
 
12.92%
 
13.67%
2012
 
12.74%
 
13.91%
 
17.92%
 
18.39%
 
14.05%
 
14.40%
2013
 
14.01%
 
14.79%
 
21.43%
 
21.02%
 
15.89%
 
15.47%
2014
 
12.92%
 
12.31%
 
15.99%
 
15.08%
 
13.69%
 
12.61%
2015-2019
 
31.61%
 
31.16%
 
24.36%
 
23.17%
 
29.72%
 
30.24%
2020-2029
 
13.86%
 
11.83%
 
0.86%
 
0.95%
 
10.52%
 
10.59%
                         
                         
Leasing Activity
                       
Signed Leases
                       
   
Number
     
New Rent
 
Prior Rent
     
Cash Decrease
   
of Leases
 
Square Feet
 
$PSF
 
$PSF
 
TI's $PSF
 
in Base Rent
Three Months Ended September 30, 2010
                   
Retail New Leases
 
119
 
315
 
$15.82
 
$16.43
 
$11.43
 
-3.7%
Retail Renewals
 
182
 
658
 
14.59
 
14.91
 
0.16
 
-2.1%
Industrial
 
43
 
474
 
4.59
 
4.61
 
0.74
 
-0.5%
Not Comparable Spaces
 
55
 
213
               
Total
 
399
 
1,660
 
$11.58
 
$11.87
 
$2.81
 
-2.4%
                         
Nine Months Ended September 30, 2010
                   
Retail New Leases
 
336
 
931
 
$15.11
 
$16.20
 
$11.51
 
-6.8%
Retail Renewals
 
489
 
2,229
 
12.62
 
12.77
 
0.44
 
-1.2%
Industrial
 
121
 
1,549
 
4.46
 
4.60
 
0.89
 
-3.1%
Not Comparable Spaces
 
195
 
714
               
Total
 
1,141
 
5,423
 
$10.43
 
$10.76
 
$2.78
 
-3.1%
                         
                         
                         
Occupancy
 
Quarter Ended
   
   
September 30,
 
June 30,
 
March 31,
 
December 31,
 
September 30,
   
   
2010
 
2010
 
2010
 
2009
 
2009
   
Signed Basis
                       
Retail
                       
     Eastern Region
 
93.2%
 
93.5%
 
93.0%
 
92.5%
 
92.7%
   
     Western Region
 
92.1%
 
91.3%
 
90.9%
 
91.4%
 
90.6%
   
     Mountain Region
 
94.2%
 
93.9%
 
93.4%
 
93.2%
 
93.1%
   
     Central Region
 
91.5%
 
91.4%
 
91.2%
 
90.6%
 
91.5%
   
Total Retail
 
92.6%
 
92.6%
 
92.2%
 
91.8%
 
92.1%
   
Industrial
 
86.9%
 
86.0%
 
87.5%
 
87.8%
 
88.0%
   
Total
 
91.1%
 
90.8%
 
90.9%
 
90.8%
 
91.1%
   
                         
Commenced Basis
                       
Retail
                       
     Eastern Region
 
89.7%
 
89.3%
 
89.6%
 
89.3%
 
89.8%
   
     Western Region
 
89.9%
 
88.4%
 
88.1%
 
89.3%
 
89.0%
   
     Mountain Region
 
92.5%
 
91.9%
 
90.6%
 
89.2%
 
89.3%
   
     Central Region
 
88.3%
 
89.0%
 
89.3%
 
87.9%
 
88.5%
   
Total Retail
 
89.8%
 
89.6%
 
89.5%
 
88.8%
 
89.2%
   
Industrial
 
85.4%
 
85.6%
 
87.3%
 
87.3%
 
86.2%
   
Total
 
88.6%
 
88.5%
 
88.9%
 
88.4%
 
88.4%
   
                         
                         
Same Property Net Operating Income Growth (1)
                   
Cash Basis
                       
   
Three Months Ended
 
Nine Months Ended
       
   
September 30,
 
September 30,
       
   
2010
 
2009
 
2010
 
2009
       
                         
Retail
                       
     Eastern Region
 
2.4%
 
-5.1%
 
1.5%
 
-4.8%
       
     Western Region
 
3.6%
 
-7.4%
 
0.1%
 
-3.6%
       
     Mountain Region
 
2.6%
 
-6.7%
 
-0.4%
 
-5.7%
       
     Central Region
 
0.5%
 
0.8%
 
-0.6%
 
-2.7%
       
Total Retail
 
2.0%
 
-4.0%
 
0.2%
 
-4.2%
       
Industrial
 
-4.9%
 
-3.9%
 
-2.3%
 
-3.1%
       
Total
 
1.2%
 
-4.0%
 
-0.1%
 
-4.1%
       
 
(1)
Same Property NOI Growth includes the company's share of unconsolidated real estate joint ventures and partnerships and provisions for uncollectible amounts and related recoveries.  It excludes the effect of lease cancellation income and straight-line rent adjustments.



 
Page 24

 

 
Weingarten Realty Investors
 
Total Net Operating Income by Geographic Region (1)
 
(in thousands at pro rata share, except percentages)
 
                                                                         
                                                                         
                                                                         
   
Nine Months Ended September 30,
   
Twelve Months Ended December 31,
 
   
2010
   
%
   
2009
   
%
   
2009
   
%
   
2008
   
%
   
2007
   
%
   
2006
   
%
 
                                                                         
Western Region
                                                                       
California
  $ 38,049     13.1 %   $ 37,771     12.7 %   $ 50,136     12.7 %   $ 51,176     12.1 %   $ 50,503     11.3 %   $ 50,074     12.1 %
Oregon
    1,009     0.3 %     1,020     0.3 %     1,342     0.3 %     1,385     0.3 %     929     0.2 %     46     0.0 %
Washington
    868     0.3 %     835     0.3 %     1,124     0.3 %     1,193     0.3 %     1,295     0.3 %     251     0.1 %
Total Western Region
    39,927     13.7 %     39,627     13.3 %     52,602     13.3 %     53,754     12.7 %     52,727     11.8 %     50,371     12.2 %
                                                                                     
Mountain Region
                                                                                   
Nevada
  $ 23,242     8.0 %   $ 23,738     8.0 %   $ 31,505     8.0 %   $ 34,360     8.1 %   $ 31,338     7.0 %   $ 27,796     6.7 %
Arizona
    18,046     6.2 %     20,441     6.9 %     26,845     6.8 %     26,181     6.2 %     23,192     5.2 %     15,004     3.6 %
Colorado
    7,484     2.6 %     6,758     2.3 %     9,136     2.3 %     10,779     2.4 %     12,162     2.7 %     13,488     3.3 %
New Mexico
    3,763     1.3 %     7,005     2.3 %     8,714     2.2 %     11,355     2.7 %     10,472     2.3 %     11,394     2.8 %
Utah
    2,631     0.9 %     2,714     0.9 %     3,557     0.9 %     3,614     0.9 %     3,545     0.8 %     3,231     0.8 %
Total Mountain Region
    55,167     19.0 %     60,656     20.3 %     79,757     20.2 %     86,289     20.3 %     80,709     18.0 %     70,913     17.2 %
                                                                                     
Central Region
                                                                                   
Texas
  $ 90,019     31.1 %   $ 85,219     28.6 %   $ 113,454     28.7 %   $ 124,407     29.2 %   $ 154,800     34.7 %   $ 154,473     37.4 %
Louisiana
    5,656     2.0 %     6,292     2.1 %     8,363     2.1 %     10,907     2.6 %     12,831     2.9 %     12,754     3.1 %
Arkansas
    2,227     0.8 %     2,292     0.8 %     3,048     0.8 %     3,006     0.7 %     3,028     0.7 %     3,505     0.8 %
Illinois
    2,028     0.7 %     2,227     0.7 %     2,960     0.7 %     3,129     0.7 %     2,378     0.5 %     2,985     0.7 %
Kansas
    1,529     0.5 %     1,408     0.5 %     1,875     0.5 %     1,949     0.5 %     1,980     0.4 %     3,714     0.9 %
Missouri
    879     0.3 %     1,061     0.4 %     1,405     0.4 %     1,182     0.3 %     1,440     0.3 %     2,193     0.5 %
Oklahoma
    739     0.3 %     745     0.2 %     975     0.2 %     955     0.2 %     1,009     0.2 %     3,002     0.7 %
Total Central Region
    103,077     35.7 %     99,245     33.3 %     132,080     33.4 %     145,536     34.2 %     177,466     39.7 %     182,627     44.1 %
                                                                                     
Eastern Region
                                                                                   
Florida
  $ 43,848     15.2 %   $ 51,074     17.1 %   $ 66,170     16.8 %   $ 70,335     16.5 %   $ 67,400     15.2 %   $ 56,601     13.7 %
North Carolina
    18,546     6.4 %     19,038     6.4 %     25,476     6.5 %     26,978     6.4 %     27,027     6.1 %     23,694     5.7 %
Georgia
    16,318     5.6 %     16,945     5.7 %     22,643     5.7 %     25,039     5.9 %     23,929     5.4 %     14,861     3.6 %
Kentucky
    5,252     1.8 %     4,967     1.7 %     6,766     1.7 %     6,629     1.6 %     6,787     1.5 %     5,944     1.5 %
Tennessee
    4,450     1.5 %     3,605     1.2 %     5,009     1.3 %     7,015     1.6 %     6,964     1.6 %     7,386     1.8 %
Virginia
    2,739     0.9 %     2,744     0.9 %     3,626     0.9 %     2,551     0.6 %     2,036     0.5 %     -     0.0 %
Maine
    288     0.1 %     249     0.1 %     355     0.1 %     278     0.1 %     381     0.1 %     433     0.1 %
South Carolina
    219     0.1 %     231     0.1 %     306     0.1 %     277     0.1 %     287     0.1 %     242     0.1 %
Total Eastern Region
    91,660     31.6 %     98,853     33.1 %     130,351     33.1 %     139,102     32.8 %     134,811     30.5 %     109,161     26.5 %
                                                                                     
Total Net Operating Income
  $ 289,830     100.0 %   $ 298,381     100.0 %   $ 394,790     100.0 %   $ 424,681     100.0 %   $ 445,713     100.0 %   $ 413,072     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%. Net Operating Income excludes the effect of lease cancellation income, straight-line rent adjustments and impairment charges. Pro rata financial information is not, and is not intended to be, a presentation in accordance with generally accepted accounting principles.


 
Page 25

 
 
 

Weingarten Realty Investors
 
Average Base Rents by CBSA
 
As of 9/30/2010
 
(in thousands at pro rata share, except per square foot amounts)
 
   
                     
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
                                                     
Los Angeles-Long Beach et al, CA
  3     583     $ 16.86     395     $ 5,610     $ 14.19     151     $ 3,602     $ 23.89  
Madera, CA
  1     85     $ 12.51     52     $ 497     $ 9.54     31     $ 538     $ 17.54  
Modesto, CA
  1     79     $ 14.19     47     $ 461     $ 9.70     30     $ 641     $ 21.27  
Redding, CA
  1     121     $ 17.24     65     $ 560     $ 8.67     48     $ 1,375     $ 28.85  
Riverside et al, CA
  4     630     $ 18.25     331     $ 4,396     $ 13.27     220     $ 5,662     $ 25.74  
Sacramento--Arden et al, CA
  5     625     $ 11.64     342     $ 1,870     $ 5.47     221     $ 4,687     $ 21.18  
San Diego-Carlsbad et al, CA
  3     286     $ 21.90     162     $ 2,274     $ 14.03     114     $ 3,761     $ 33.12  
San Francisco-Oakland et al, CA
  3     447     $ 21.16     246     $ 3,631     $ 14.78     174     $ 5,254     $ 30.17  
San Jose-Sunnyvale et al, CA
  2     145     $ 20.70     66     $ 423     $ 6.43     78     $ 2,557     $ 32.71  
Santa Cruz-Watsonville, CA
  1     150     $ 10.62     93     $ 565     $ 6.06     49     $ 950     $ 19.21  
Santa Rosa-Petaluma, CA
  1     194     $ 12.41     55     $ 393     $ 7.20     29     $ 649     $ 22.07  
Vallejo-Fairfield, CA
  3     364     $ 17.33     151     $ 1,086     $ 7.21     157     $ 4,247     $ 27.04  
California
  28     3,710     $ 16.84     2,005     $ 21,765     $ 10.86     1,302     $ 33,923     $ 26.05  
Portland-Vancouver et al, OR-WA
  3     120     $ 13.71     66     $ 575     $ 8.75     44     $ 932     $ 21.07  
Oregon
  3     120     $ 13.71     66     $ 575     $ 8.75     44     $ 932     $ 21.07  
Seattle-Tacoma-Bellevue, WA
  4     82     $ 17.06     64     $ 978     $ 15.35     13     $ 330     $ 25.41  
Washington
  4     82     $ 17.06     64     $ 978     $ 15.35     13     $ 330     $ 25.41  
                                                                 
Total West Region
  35     3,911     $ 16.75     2,134     $ 23,318     $ 10.93     1,359     $ 35,185     $ 25.88  
                                                                 
Mountain Region
                                                               
Lake Havasu City-Kingman, AZ
  1     182     $ 14.46     112     $ 1,425     $ 12.67     35     $ 705     $ 20.26  
Phoenix-Mesa-Scottsdale, AZ
  16     1,292     $ 13.76     719     $ 5,993     $ 8.34     495     $ 10,713     $ 21.63  
Tucson, AZ
  5     630     $ 14.21     339     $ 2,774     $ 8.17     209     $ 5,026     $ 24.00  
Arizona
  22     2,104     $ 13.95     1,171     $ 10,192     $ 8.71     739     $ 16,444     $ 22.24  
Colorado Springs, CO
  2     299     $ 8.68     243     $ 1,790     $ 7.36     43     $ 697     $ 16.09  
Denver-Aurora, CO
  9     975     $ 14.83     371     $ 3,528     $ 9.51     267     $ 5,932     $ 22.23  
Colorado
  11     1,274     $ 12.93     614     $ 5,318     $ 8.66     310     $ 6,628     $ 21.37  
Las Vegas-Paradise, NV
  13     2,367     $ 14.80     1,535     $ 16,030     $ 10.44     678     $ 16,727     $ 24.68  
Nevada
  13     2,367     $ 14.80     1,535     $ 16,030     $ 10.44     678     $ 16,727     $ 24.68  
Albuquerque, NM
  4     475     $ 13.24     280     $ 2,561     $ 9.14     160     $ 3,267     $ 20.41  
New Mexico
  4     475     $ 13.24     280     $ 2,561     $ 9.14     160     $ 3,267     $ 20.41  
Provo-Orem, UT
  1     30     $ 16.04     12     $ 165     $ 13.96     19     $ 323     $ 17.36  
Salt Lake City, UT
  2     276     $ 12.53     175     $ 1,795     $ 10.24     78     $ 1,379     $ 17.66  
Utah
  3     307     $ 12.91     187     $ 1,959     $ 10.48     97     $ 1,702     $ 17.60  
                                                                 
Total Mountain Region
  53     6,526     $ 14.01     3,787     $ 36,060     $ 9.52     1,984     $ 44,768     $ 22.56  
                                                                 
Central Region
                                                               
Little Rock-N. Little Rock, AR
  3     358     $ 8.95     298     $ 2,287     $ 7.67     56     $ 877     $ 15.79  
Arkansas
  3     358     $ 8.95     298     $ 2,287     $ 7.67     56     $ 877     $ 15.79  
Chicago et al, IL-IN-WI
  1     304     $ 10.67     268     $ 2,554     $ 9.52     18     $ 501     $ 27.97  
Illinois
  1     304     $ 10.67     268     $ 2,554     $ 9.52     18     $ 501     $ 27.97  
Kansas City, MO-KS
  1     135     $ 9.50     87     $ 698     $ 8.03     28     $ 398     $ 13.99  
Topeka, KS
  1     116     $ 9.71     116     $ 1,123     $ 9.71     0     $ 0     $ 0.00  
Kansas
  2     251     $ 9.60     203     $ 1,822     $ 8.99     28     $ 398     $ 13.99  
Hammond, LA
  1     227     $ 6.57     96     $ 287     $ 2.99     87     $ 917     $ 10.49  
Lafayette, LA
  1     138     $ 10.36     18     $ 90     $ 5.00     61     $ 728     $ 11.94  
Lake Charles, LA
  4     446     $ 7.13     309     $ 1,665     $ 5.40     98     $ 1,239     $ 12.58  
Monroe, LA
  1     141     $ 5.28     89     $ 325     $ 3.64     42     $ 366     $ 8.80  


 
Page 26

 

 

                     
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
 
New Orleans-Metairie-Kenner, LA
  1     137     $ 14.34     78     $ 732     $ 9.36     58     $ 1,216     $ 21.08  
Shreveport-Bossier City, LA
  1     5     $ 23.29     0     $ 0     $ 0.00     5     $ 119     $ 23.29  
Louisiana
  9     1,095     $ 8.16     590     $ 3,099     $ 5.25     351     $ 4,586     $ 13.05  
St. Louis, MO-IL
  2     229     $ 9.11     130     $ 1,068     $ 8.21     49     $ 561     $ 11.48  
Missouri
  2     229     $ 9.11     130     $ 1,068     $ 8.21     49     $ 561     $ 11.48  
Oklahoma City, OK
  2     164     $ 7.60     104     $ 570     $ 5.51     52     $ 612     $ 11.76  
Oklahoma
  2     164     $ 7.60     104     $ 570     $ 5.51     52     $ 612     $ 11.76  
Amarillo, TX
  2     68     $ 9.77     11     $ 48     $ 4.22     38     $ 434     $ 11.43  
Beaumont-Port Arthur, TX
  6     281     $ 8.28     158     $ 787     $ 4.98     90     $ 1,265     $ 14.06  
Brownsville-Harlingen, TX
  1     8     $ 12.38     0     $ 0     $ 0.00     8     $ 99     $ 12.38  
College Station-Bryan, TX
  1     107     $ 10.88     86     $ 923     $ 10.74     21     $ 241     $ 11.47  
Corpus Christi, TX
  1     371     $ 13.19     245     $ 2,291     $ 9.34     117     $ 2,489     $ 21.22  
Dallas-Fort Worth-Arlington, TX
  10     1,272     $ 13.41     545     $ 5,883     $ 10.79     422     $ 7,089     $ 16.80  
Houston-Baytown-Sugar Land, TX
  62     4,737     $ 14.52     2,636     $ 26,207     $ 9.94     1,602     $ 35,331     $ 22.05  
Killeen-Temple-Fort Hood, TX
  1     115     $ 12.03     98     $ 1,033     $ 10.52     17     $ 353     $ 20.74  
Laredo, TX
  2     374     $ 13.86     219     $ 2,408     $ 10.98     96     $ 1,963     $ 20.47  
Lubbock, TX
  1     152     $ 8.99     112     $ 740     $ 6.58     35     $ 583     $ 16.78  
Lufkin, TX
  1     248     $ 6.51     205     $ 1,076     $ 5.26     20     $ 387     $ 19.22  
McAllen-Edinburg-Pharr, TX
  7     491     $ 11.92     360     $ 3,541     $ 9.84     85     $ 1,768     $ 20.69  
Rio Grande City, TX
  1     88     $ 11.33     76     $ 792     $ 10.47     13     $ 209     $ 16.38  
San Antonio, TX
  7     580     $ 12.13     375     $ 3,289     $ 8.77     172     $ 3,344     $ 19.42  
Tyler, TX
  1     60     $ 7.29     33     $ 212     $ 6.35     15     $ 143     $ 9.36  
Texas
  104     8,953     $ 13.26     5,160     $ 49,230     $ 9.54     2,752     $ 55,698     $ 20.24  
                                                                 
Total Central Region
  123     11,354     $ 12.31     6,753     $ 60,630     $ 8.98     3,306     $ 63,233     $ 19.13  
                                                                 
East Region
                                                               
Fort Walton Beach et al, FL
  2     70     $ 15.07     45     $ 594     $ 13.29     14     $ 296     $ 20.62  
Jacksonville, FL
  2     319     $ 9.91     250     $ 1,873     $ 7.48     66     $ 1,265     $ 19.04  
Miami-Fort Lauderdale et al, FL
  17     1,098     $ 16.05     600     $ 6,367     $ 10.61     424     $ 10,071     $ 23.76  
Orlando, FL
  14     1,780     $ 15.21     1,082     $ 13,237     $ 12.24     419     $ 9,585     $ 22.87  
Palm Bay-Melbourne et al, FL
  3     182     $ 8.84     102     $ 587     $ 5.75     50     $ 755     $ 15.18  
Palm Coast, FL
  1     83     $ 17.66     53     $ 739     $ 13.90     28     $ 686     $ 24.92  
Port St. Lucie-Fort Pierce, FL
  1     50     $ 10.22     43     $ 381     $ 8.92     3     $ 90     $ 26.76  
Punta Gorda, FL
  2     25     $ 16.96     15     $ 215     $ 14.34     6     $ 137     $ 23.84  
Sarasota-Bradenton-Venice, FL
  1     97     $ 10.54     46     $ 324     $ 7.13     28     $ 453     $ 16.05  
Tampa-St. Petersburg et al, FL
  4     924     $ 13.50     503     $ 5,015     $ 9.97     279     $ 5,536     $ 19.87  
Florida
  47     4,628     $ 14.35     2,738     $ 29,333     $ 10.71     1,317     $ 28,874     $ 21.92  
Atlanta-Sandy Springs et al, GA
  14     1,580     $ 13.41     964     $ 9,221     $ 9.56     463     $ 9,908     $ 21.41  
Gainesville, GA
  1     28     $ 13.35     21     $ 239     $ 11.31     5     $ 112     $ 21.66  
Georgia
  15     1,608     $ 13.40     985     $ 9,459     $ 9.60     468     $ 10,020     $ 21.41  
Lexington-Fayette, KY
  2     299     $ 13.55     218     $ 2,012     $ 9.22     185     $ 3,456     $ 18.66  
Louisville, KY-IN
  1     169     $ 11.83     93     $ 848     $ 9.17     69     $ 1,060     $ 15.39  
Kentucky
  3     468     $ 13.06     311     $ 2,860     $ 9.20     254     $ 4,516     $ 17.77  
Lewiston-Auburn, ME
  1     154     $ 5.23     80     $ 352     $ 4.41     21     $ 172     $ 8.37  
Maine
  1     154     $ 5.23     80     $ 352     $ 4.41     21     $ 172     $ 8.37  
Charlotte-Gastonia et al, NC-SC
  4     319     $ 17.14     154     $ 2,136     $ 13.91     137     $ 2,838     $ 20.76  
Durham, NC
  6     289     $ 13.15     126     $ 1,315     $ 10.48     92     $ 1,550     $ 16.78  
Raleigh-Cary, NC
  12     1,548     $ 11.64     951     $ 7,470     $ 7.85     507     $ 9,502     $ 18.76  
Southern Pines-Pinehurst, NC
  1     252     $ 8.89     112     $ 565     $ 5.03     66     $ 1,019     $ 15.49  
Wilmington, NC
  1     79     $ 12.75     49     $ 419     $ 8.60     24     $ 502     $ 21.33  
North Carolina
  24     2,487     $ 12.33     1,391     $ 11,906     $ 8.56     825     $ 15,412     $ 18.68  
Hilton Head Island-Beaufort, SC
  1     22     $ 14.64     5     $ 47     $ 9.00     14     $ 234     $ 16.76  
South Carolina
  1     22     $ 14.64     5     $ 47     $ 9.00     14     $ 234     $ 16.76  
Memphis, TN-MS-AR
  7     552     $ 12.41     362     $ 4,012     $ 11.10     135     $ 2,146     $ 15.92  
Tennessee
  7     552     $ 12.41     362     $ 4,012     $ 11.10     135     $ 2,146     $ 15.92  

 
Page 27

 

 

                     
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
  98     9,919     $ 13.40     5,872     $ 57,968     $ 9.87     3,033     $ 61,374     $ 20.23  
                                                                 
Total Retail
  309     31,709     $ 13.55     18,546     $ 177,977     $ 9.60     9,683     $ 204,560     $ 21.13  
                                                                 
Industrial
                                                               
West Region
                                                               
San Diego-Carlsbad et al, CA
  1     145     $ 6.16     43     $ 260     $ 6.07     1     $ 9     $ 10.18  
California
  1     145     $ 6.16     43     $ 260     $ 6.07     1     $ 9     $ 10.18  
                                                                 
Total West Region
  1     145     $ 6.16     43     $ 260     $ 6.07     1     $ 9     $ 10.18  
                                                                 
Central Region
                                                               
Austin-Round Rock, TX
  6     427     $ 9.48     71     $ 657     $ 9.29     287     $ 2,735     $ 9.53  
Dallas-Fort Worth-Arlington, TX
  16     2,516     $ 4.57     1,727     $ 7,233     $ 4.19     404     $ 2,504     $ 6.20  
Houston-Baytown-Sugar Land, TX
  27     2,926     $ 5.42     2,297     $ 11,587     $ 5.04     352     $ 2,769     $ 7.87  
San Antonio, TX
  4     687     $ 5.38     411     $ 2,214     $ 5.39     170     $ 912     $ 5.36  
Texas
  53     6,556     $ 5.35     4,506     $ 21,691     $ 4.81     1,213     $ 8,920     $ 7.35  
                                                                 
Total Central Region
  53     6,556     $ 5.35     4,506     $ 21,691     $ 4.81     1,213     $ 8,920     $ 7.35  
                                                                 
East Region
                                                               
Lakeland, FL
  2     768     $ 4.25     658     $ 2,799     $ 4.25     0     $ 0     $ 0.00  
Tampa-St. Petersburg et al, FL
  3     896     $ 4.00     727     $ 2,902     $ 3.99     7     $ 38     $ 5.25  
Florida
  5     1,665     $ 4.12     1,385     $ 5,701     $ 4.12     7     $ 38     $ 5.25  
Atlanta-Sandy Springs et al, GA
  9     1,560     $ 3.86     1,085     $ 4,136     $ 3.81     25     $ 153     $ 6.12  
Georgia
  9     1,560     $ 3.86     1,085     $ 4,136     $ 3.81     25     $ 153     $ 6.12  
Memphis, TN-MS-AR
  3     685     $ 2.58     576     $ 1,483     $ 2.57     2     $ 8     $ 4.15  
Tennessee
  3     685     $ 2.58     576     $ 1,483     $ 2.57     2     $ 8     $ 4.15  
Richmond, VA
  9     904     $ 4.98     739     $ 3,653     $ 4.94     3     $ 47     $ 15.79  
Virginia
  9     904     $ 4.98     739     $ 3,653     $ 4.94     3     $ 47     $ 15.79  
                                                                 
Total East Region
  26     4,813     $ 3.98     3,786     $ 14,973     $ 3.96     37     $ 246     $ 6.64  
                                                                 
Total Industrial
  80     11,515     $ 4.81     8,335     $ 36,924     $ 4.43     1,251     $ 9,175     $ 7.33  
                                                                 
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 28

 
 
 
 
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
Property Listing
 
 
                       
                       
                       
                       
                       
                       
                       
                       
                       
                   
                       
                   
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       


 
 

 
 

Weingarten Realty Investors
 
Summary Property Listing
 
As of September 30, 2010
 
                               
         
Gross Leasable Area
 
   
# of
   
WRI
   
Joint Venture
   
Owned by
       
ALL PROPERTIES BY STATE
 
Properties
   
Owned
   
Share
   
Other
   
Total
 
Arizona
    23       2,125,238       -       1,204,412       3,329,650  
Arkansas
    3       358,030       -       -       358,030  
California
    29       3,854,878       880,174       546,242       5,281,292  
Colorado
    11       1,273,514       1,129,440       1,252,257       3,655,210  
Florida
    51       6,293,190       3,292,387       1,349,187       10,927,694  
Georgia
    23       3,217,548       933,066       716,003       4,866,617  
Illinois
    1       303,566       -       -       303,566  
Kansas
    2       250,855       -       -       250,855  
Kentucky
    4       610,815       -       127,614       738,429  
Louisiana
    11       1,149,380       415,591       693,875       2,258,846  
Maine
    1       153,535       51,178       -       204,713  
Missouri
    2       229,232       28,317       -       257,549  
Nevada
    12       2,366,641       -       1,160,131       3,526,772  
New Mexico
    4       474,770       -       216,134       690,904  
North Carolina
    25       2,541,259       181,859       742,374       3,465,492  
Oklahoma
    2       163,996       -       -       163,996  
Oregon
    3       119,909       90,927       62,600       273,436  
South Carolina
    1       21,530       64,590       -       86,120  
Tennessee
    9       1,236,766       674,070       137,740       2,048,576  
Texas
    155       15,843,519       5,365,757       3,028,349       24,237,625  
Utah
    3       306,638       60,772       296,357       663,767  
Virginia
    9       904,159       1,607,058       -       2,511,217  
Washington
    4       81,875       327,497       65,346       474,718  
Grand Total
    388       43,880,843       15,102,683       11,598,621       70,575,074  
                                         
Total Retail
    307       31,988,433       9,817,093       11,397,771       53,196,224  
                                         
Total Industrial
    78       11,610,839       5,285,590       200,850       17,097,279  
                                         
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 30

 



Weingarten Realty Investors
 
Property Listing
 
As of September 30, 2010  
                         
Gross Leasable Area
 
              WRI                 Joint     Owned        
             
Owned
   
Foot
   
WRI
   
Venture
   
by
       
Center
 
Location
 
Anchors
   
%
   
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     70,255     173,823  
Mohave Crossroads
 
Bullhead Parkway at State Route 95, Bullhead City
 
Target (O.B.O.), Kohls (O.B.O.), PetsMart, Staples, Bed Bath & Beyond, Ross Dress for Less
    100.00 %         182,168     0     197,360     379,528  
Raintree Ranch
 
Ray Road at Price Road, Chandler
 
Whole Foods +, Golf Galaxy, Bodhi Wellness Center
    100.00 %         141,230     0     0     141,230  
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     168,624     198,458  
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     62,800     108,551  
Red Mountain Gateway
 
Power Rd. at McKellips Rd., Mesa
 
Target (O.B.O.), Bed Bath & Beyond, Famous Footwear
    100.00 %         69,212     0     136,000     205,212  
The Shoppes at Parkwood Ranch
 
Southern Avenue and Signal Butte Road, Mesa
 
Hobby Lobby, Dollar Tree
    100.00 %         92,626     0     0     92,626  
Camelback Village Square
 
Camelback at 7th Avenue, Phoenix
 
Fry’s Supermarket +, Office Max, Blockbuster
    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
 
Fresh N Easy +, Family Dollar, Mega Furniture
    100.00 %         66,787     0     0     66,787  
Squaw Peak Plaza
 
16th Street at Glendale Ave., Phoenix
 
Basha's +, Blockbuster
    100.00 %         60,728     0     0     60,728  
Fountain Plaza
 
77th St. at McDowell, Scottsdale
 
Fry’s Supermarket +, Dollar Tree, Lowes (O.B.O.)
    100.00 %         102,761     0     165,000     267,761  
Scottsdale Horizon
 
Frank Lloyd Wright Blvd and Thompson Peak Parkway, Scottsdale
 
Safeway + (O.B.O.)
    100.00 %         10,237     0     0     10,237  
Basha's Valley Plaza
 
S. McClintock at E. Southern, Tempe
 
Basha’s +, Ross Dress for Less
    100.00 %         145,518     0     0     145,518  
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 %         157,359     0     0     157,359  
Entrada de Oro
 
Magee Road and Oracle Road, Tucson
 
Wal-Mart Neighborhood Market +
    100.00 %         88,665     0     20,406     109,071  
Madera Village
 
Tanque Verde Rd. and Catalina Hwy, Tucson
 
Safeway +, Walgreens, 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 %         250,741     0     10,000     260,741  
Oracle Wetmore
 
Wetmore Road and Oracle Highway, Tucson
 
Home Depot (O.B.O.), PetSmart, Walgreens, Ultimate Electronics, Ulta
    100.00 %         149,961     0     105,329     255,290  
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
                    2,104,116     0     1,204,412     3,308,528  
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, Michaels, Academy, Bassett Furniture, Dollar Tree
    100.00 %         178,500     0     0     178,500  
Westgate
 
Cantrell at Bryant, Little Rock
 
SteinMart
    100.00 %         52,626     0     0     52,626  
Arkansas Total:
 
# of Properties: 3
                    358,030     0     0     358,030  
California
                                             
Jess Ranch Marketplace
 
Bear Valley Road at Jess Ranch Parkway, Apple Valley
 
Winco Foods + (O.B.O.), Burlington Coat Factory, Petsmart, Rite Aid, Big 5
    50.00 %   (1)(3)     104,384     104,384     93,696     302,463  
Jess Ranch Phase III
 
Bear Valley Road at Jess Ranch Parkway, Apple Valley
 
Best Buy, Cinemark Theatres, Bed Bath & Beyond, 24 Hour Fitness
    50.00 %   (1)(3)     89,984     89,984     0     179,967  
Centerwood Plaza
 
Lakewood Blvd. at Alondra Dr., Bellflower
 
Bestway Supermarket +, Buck-A-Roos
    100.00 %         74,000     0     0     74,000  
Southampton Center
 
IH-780 at Southampton Rd., Benecia
 
Raley’s +, Ace Hardware
    100.00 %         162,764     0     0     162,764  
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
    100.00 %         311,606     0     0     311,606  
Buena Vista Marketplace
 
Huntington Dr. at Buena Vista St., Duarte
 
Ralph's +, Dollar Tree
    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 %         129,651     0     0     129,651  
Fremont Gateway Plaza
 
Paseo Padre Pkwy. at Walnut Ave., Fremont
 
Raley’s +, 24 Hour Fitness, Big Cinemas
    100.00 %         194,601     0     0     194,601  
Hallmark Town Center
 
W. Cleveland Ave. at Stephanie Ln., Madera
 
Food 4 Less +, Bally Total Fitness
    100.00 %         85,066     0     0     85,066  
Menifee Town Center
 
Antelope Rd. at Newport Rd., Menifee
 
Ralph's +, Ross Dress for Less, Dollar Tree
    100.00 %         124,431     0     124,303     248,734  


 
Page 31

 


Weingarten Realty Investors
 
Property Listing
 
As of September 30, 2010  
                         
Gross Leasable Area
 
              WRI                 Joint     Owned        
             
Owned
   
Foot
   
WRI
   
Venture
   
by
       
Center
 
Location
 
Anchors
   
%
   
Notes
   
Owned
   
Share
   
Other
   
Total
 
                                               
Marshalls Plaza
 
McHenry at Sylvan Ave., Modesto
 
Marshalls, 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 %         227,872     0     0     227,872  
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 %         121,183     0     131,468     252,651  
Arcade Square
 
Watt Ave. at Whitney Ave., Sacramento
 
Grocery Outlet +, Lifestyle Furniture
    100.00 %         76,497     0     0     76,497  
Discovery Plaza
 
W. El Camino Ave. at Truxel Rd., Sacramento
 
Bel Air Market +
    100.00 %         93,491     0     0     93,491  
Summerhill Plaza
 
Antelope Rd. at Lichen Dr., Sacramento
 
Raley’s +, Dollar Tree
    100.00 %         128,880     0     0     128,880  
Valley
 
Franklin Boulevard and Mack Road, Sacramento
 
Raley's +
    100.00 %         98,240     0     0     98,240  
Silver Creek Plaza
 
E. Capital Expressway at Silver Creek Blvd., San Jose
 
Safeway +, Walgreens, Orchard Supply (O.B.O.)
    100.00 %         132,925     0     65,000     197,925  
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 +
    100.00 %         194,297     0     0     194,297  
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 %         417,820     0     0     417,820  
California Total:
 
# of Properties: 28
                    3,709,525     298,761     546,242     4,554,526  
Colorado
                                             
Aurora City Place
 
E. Alameda at I225, Aurora
 
PetsMart, Barnes & Noble, Ross Dress For Less, Sports Authority, Super Target + (O.B.O.)
    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 %         83,878     0     206,586     290,464  
Uintah Gardens
 
NEC 19th St. at West Uintah, Colorado Springs
 
King Sooper’s +, Walgreens, Petco, Big 5 Sporting Goods, ARC Thrift
    100.00 %         214,774     0     0     214,774  
Green Valley Ranch Towne Center
 
Tower Rd. at 48th Ave., Denver
 
King Sooper’s + (O.B.O.)
    50.00 %   (1)(3)     28,474     28,474     58,000     114,947  
Lowry Town Center
 
2nd Ave. at Lowry Ave., Denver
 
Albertsons + (O.B.O.)
    50.00 %   (1)(3)     38,412     38,412     52,700     129,525  
CityCenter Englewood
 
S. Santa Fe at Hampden Ave., Englewood
 
Wal-Mart (O.B.O.), Ross Dress for Less, Sports Authority, Office Depot, Bally Total Fitness, Petco
    51.00 %   (1)(3)     137,346     131,960     90,000     359,305  
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.), Sunflower Farmers Market +, Barnes & Noble, Office Max, Michaels, Dollar Tree, Cost Plus
    51.00 %   (1)(3)     108,190     103,947     174,000     386,137  
Westminster Plaza
 
North Federal Blvd. at 72nd Ave., Westminster
 
Safeway +, Walgreens (O.B.O.)
    50.00 %   (1)     48,506     48,506     14,100     111,113  
Colorado Total:
 
# of Properties: 9
                    897,842     587,379     777,386     2,262,606  
Florida
                                             
Boca Lyons
 
Glades Rd. at Lyons Rd., Boca Raton
 
Ross Dress for Less, Ethan Allen, Dollar Tree
    100.00 %         113,689     0     0     113,689  
Countryside Centre
 
US Highway 19 at Countryside Boulevard, Clearwater
 
Publix +, T.J. Maxx, Home Goods
    100.00 %         241,933     0     0     241,933  
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 +, Walgreens, Tuesday Morning
    100.00 %         131,723     0     48,214     179,937  
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)     42,918     128,752     0     171,670  
Hollywood Hills Plaza
 
Hollywood Blvd. at North Park Rd., Hollywood
 
Publix +, Target, CVS/pharmacy
    20.00 %   (1)     72,943     291,771     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, Michaels
    100.00 %         312,447     0     0     312,447  
TJ Maxx Plaza
 
117th Avenue at Sunset Blvd., Kendall
 
T.J. Maxx, Winn Dixie +
    100.00 %         161,429     0     0     161,429  
Largo Mall
 
Ulmerton Rd. at Seminole Ave., Largo
 
Beall’s, Marshalls, PetsMart, Bed Bath & Beyond, Staples, Michaels, Target (O.B.O.), Albertsons + (O.B.O.)
    100.00 %         377,616     0     197,631     575,247  


 
Page 32

 


Weingarten Realty Investors
 
Property Listing
 
As of September 30, 2010  
                         
Gross Leasable Area
 
              WRI                 Joint     Owned        
             
Owned
   
Foot
   
WRI
   
Venture
   
by
       
Center
 
Location
 
Anchors
   
%
   
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 +
    25.00 %   (1)(3)     29,707     89,121     0     118,828  
Lake Washington Square
 
Wickham Rd. at Lake Washington Rd., Melbourne
 
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)     19,294     77,178     0     96,472  
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
    20.00 %   (1)(3)     22,173     88,694     0     110,867  
Northridge
 
E. Commercial Blvd. at Dixie Hwy., Oakland Park
 
Publix +, Petco, Ross Dress for Less, Anna's Linens, Bally Total Fitness
    20.00 %   (1)(3)     47,184     188,738     0     235,922  
Colonial Landing
 
East Colonial Dr. at Maguire Boulevard, Orlando
 
Bed Bath & Beyond, PetsMart, Sports Authority
    50.00 %   (1)     131,504     131,504     0     263,007  
Colonial Plaza
 
E. Colonial Dr. at Primrose Dr., Orlando
 
Staples, Ross Dress for Less, Babies “R” Us, Marshalls, Old Navy, SteinMart, Barnes & Noble, Petco, Big Lots, Hobby Lobby
    100.00 %         501,982     0     0     501,982  
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, Dollar Tree
    100.00 %         95,208     0     64,627     159,835  
Phillips Crossing
 
Interstate 4 and Sand Lake Road, Orlando
 
Whole Foods +, Golf Galaxy, Michaels
    100.00 %         145,704     0     0     145,704  
Phillips Landing
 
Turkey Lake Rd., Orlando
 
Wal-Mart (O.B.O.), Planet Fitness
    100.00 %         66,223     0     219,815     286,038  
The Marketplace at Dr. Phillips
 
Dr. Phillips Boulevard and Sand Lake Road, Orlando
 
Stein Mart, Office Depot, Home Goods, Morton's of Chicago
    20.00 %   (1)(3)     65,222     260,886     0     326,108  
The Shoppes at South Semoran
 
Semoran Blvd. at Pershing Ave., Orlando
 
Dollar Tree
    100.00 %         101,486     0     0     101,486  
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 +
    30.00 %   (1)     29,752     69,420     0     99,172  
Palm Coast Center
 
State Road 100 & Belle Terre Parkway, Palm Coast
 
Super Target (O.B.O.) +, PetsMart, T.J. Maxx, Ross Dress for Less, Michaels
    50.00 %   (1)(3)     83,398     83,398     189,398     356,195  
East Lake Woodlands
 
East Lake Road and Tampa Road, Palm Harbor
 
Walgreens
    20.00 %   (1)(3)     28,123     112,494     0     140,617  
Shoppes at Parkland
 
Hillsboro Boulevard at State Road #7, Parkland
 
BJ's Wholesale Club +
    30.00 %   (1)     43,696     101,956     0     145,652  
Flamingo Pines
 
Pines Blvd. at Flamingo Rd., Pembroke Pines
 
Publix +
    20.00 %   (1)(3)     25,284     101,135     0     126,419  
Flamingo Pines
 
Pines Blvd. at Flamingo Rd., Pembroke Pines
 
U.S. Post Office, Keiser College
    100.00 %         130,942     0     105,350     236,292  
Pembroke Commons
 
University at Pines Blvd., Pembroke Pines
 
Publix +, Marshalls, Office Depot, LA Fitness, Dollar Tree
    20.00 %   (1)(3)     60,879     243,516     0     304,395  
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
 
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
 
Chick-Fil-A
    25.00 %   (1)(3)     980     2,941     0     3,921  
Shoppes of Port Charlotte
 
Toledo Blade Boulevard and Tamiami Trail, Port Charlotte
 
Petco
    25.00 %   (1)(3)     10,253     30,758     0     41,011  
Marketplace at Seminole Towne Center
 
Central Florida Greenway and Rinehart Road,
 
Sports Authority, Marshalls, Old Navy, Petco, Super Target + (O.B.O.)
    100.00 %         313,612     0     185,000     498,612  
Epic Village - St. Augustine
 
SR 207 at Rolling Hills Dr, St. Augustine
 
Epic Theaters (O.B.O.)
    70.00 %   (1)     6,103     2,615     51,977     53,625  
Pineapple Commons
 
Us Highway 1 and Britt Rd., Stuart
 
City Furniture, Best Buy, Ross Dress for Less, PetsMart, Marshalls
    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 +
    100.00 %         102,382     0     0     102,382  
Florida Total:
 
# of Properties: 45
                    4,550,957     3,229,037     1,245,012     9,017,936  
Georgia
                                             
Lakeside Marketplace
 
Cobb Parkway (US Hwy 41), Acworth
 
Ross Dress for Less, Petco, Office Max, Super Target + (O.B.O.)
    100.00 %         136,848     0     174,000     310,848  
Mansell Crossing
 
North Point Parkway at Mansell Rd, Alpharetta
 
Buy Buy Baby, Ross Dress for Less, 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
 
Shopper's World, 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)     29,925     69,824     0     99,749  
Perimeter Village
 
Ashford-Dunwoody Rd, Atlanta
 
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 +
    20.00 %   (1)     13,681     54,726     0     68,407  
Brookwood Square
 
East-West Connector at Austell Rd., Austell
 
Marshalls, Staples
    100.00 %         253,448     0     0     253,448  
Dallas Commons
 
US Highway 278 and Nathan Dean Boulevard,
 
Kroger + (O.B.O.)
    100.00 %         25,158     0     70,104     95,262  


 
Page 33

 


Weingarten Realty Investors
 
Property Listing
 
As of September 30, 2010  
                         
Gross Leasable Area
 
              WRI                 Joint     Owned        
             
Owned
   
Foot
   
WRI
   
Venture
   
by
       
Center
 
Location
 
Anchors
   
%
   
Notes
   
Owned
   
Share
   
Other
   
Total
 
                                               
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.,
 
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 %         199,594     0     174,000     373,594  
Georgia Total:
 
# of Properties: 15
                    1,607,969     322,655     716,003     2,646,627  
Illinois
                                             
Burbank Station
 
S. Cicero Ave. at W. 78th St., Burbank
 
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
 
T.J. Maxx, Michaels, Kroger + (O.B.O.)
    100.00 %         142,972     0     46,044     189,016  
Tates Creek
 
Tates Creek at Man O’ War, Lexington
 
Kroger +, Rite Aid
    100.00 %         174,290     0     5,160     179,450  
Festival at Jefferson Court
 
Outer Loop at Jefferson Blvd., Louisville
 
Kroger +, PetsMart (O.B.O.), Factory Card Outlet, Staples, AJ Wright (O.B.O.)
    100.00 %         168,986     0     49,410     218,396  
Kentucky Total:
 
# of Properties: 4
                    610,815     0     127,614     738,429  
Louisiana
                                             
Town & Country Plaza
 
U.S. Hwy. 190 West, Hammond
 
Winn Dixie +, Office Depot, CVS/pharmacy, Ross
    100.00 %         227,452     0     0     227,452  
Manhattan Place
 
Manhattan Blvd. at Gretna Blvd., Harvey
 
Target (O.B.O.), Ross Dress for Less, Stage, K&G Fashion
    100.00 %         137,315     0     139,300     276,615  
River Marketplace
 
Ambassador Caffery at Kaliste Saloom, Lafayette
 
Ross Dress for Less, Stage, Cost Plus, Super Target + (O.B.O.), Books-A-Million
    7.80 %   (1)(3)     13,139     147,100     174,700     334,939  
Westwood Village
 
W. Congress at Bertrand, Lafayette
 
Rouses Supermarket +, Stage
    100.00 %         138,034     0     0     138,034  
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, Dollar Tree
    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.), Marshalls (O.B.O.), Ross Dress for Less (O.B.O.), Bed Bath & Beyond (O.B.O.)
    100.00 %         8,243     0     205,375     213,618  
Southgate
 
Ryan at Eddy, Lake Charles
 
Market Basket +, Office Depot, Books-A-Million
    100.00 %         157,538     0     0     157,538  
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)     41,137     160,517     174,500     376,154  
University Place
 
71st St. at Youree Dr., Shreveport
        100.00 %         5,100     0     0     5,100  
Louisiana Total:
 
# of Properties: 11
                    1,149,380     415,591     693,875     2,258,846  
Maine
                                             
The Promenade
 
Essex at Summit, Lewiston
 
Staples
    75.00 %   (1)     153,535     51,178     0     204,713  
Maine Total:
 
# of Properties: 1
                    153,535     51,178     0     204,713  
Missouri
                                             
Ballwin Plaza
 
Manchester Rd. at Vlasis Dr., Ballwin
 
Schnucks +, Michaels, Sears Hardware
    100.00 %         200,915     0     0     200,915  
Western Plaza
 
Hwy 141 at Hwy 30, Fenton
 
Value Village
    50.00 %   (1)(3)     28,317     28,317     0     56,634  


 
Page 34

 


Weingarten Realty Investors
 
Property Listing
 
As of September 30, 2010  
                         
Gross Leasable Area
 
              WRI                 Joint     Owned        
             
Owned
   
Foot
   
WRI
   
Venture
   
by
       
Center
 
Location
 
Anchors
   
%
   
Notes
   
Owned
   
Share
   
Other
   
Total
 
                                               
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.), Trader Joe's +
    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, Sports Authority, Ulta
    100.00 %         428,404     0     0     428,404  
Charleston Commons
 
Charleston and Nellis, Las Vegas
 
Wal-Mart +, Ross, Office Max, 99 Cents Only, PetsMart
    100.00 %         332,539     0     0     332,539  
College Park S.C.
 
E. Lake Mead Blvd. at Civic Ctr. Dr., North Las Vegas
 
El Super +, 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     60,018     212,493  
Paradise Marketplace
 
Flamingo Rd. at Sandhill, Las Vegas
 
Smith’s Food + (O.B.O.), Dollar Tree
    100.00 %         77,597     0     70,495     148,092  
Rainbow Plaza
 
Rainbow Blvd. at Charleston Blvd., Las Vegas
 
Albertsons +, JC Penney, Ultimate Electronics, Home Depot, 24 Hour Fitness
    100.00 %         273,916     0     0     273,916  
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 %         84,743     0     0     84,743  
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, Sports Authority
    100.00 %         246,483     0     394,271     640,754  
Tropicana Marketplace
 
Tropicana at Jones Blvd., Las Vegas
 
Smith’s Food + (O.B.O.), Family Dollar
    100.00 %         71,325     0     73,168     144,493  
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 %         211,755     0     386,458     598,213  
Nevada Total:
 
# of Properties: 12
                    2,366,641     0     1,160,131     3,526,772  
New Mexico
                                             
Eastdale
 
Candelaria Rd. at Eubank Blvd., Albuquerque
 
Albertsons +, Family Dollar
    100.00 %         119,111     0     0     119,111  
North Towne Plaza
 
Academy Rd. at Wyoming Blvd., Albuquerque
 
Whole Foods Market +, Borders
    100.00 %         107,902     0     0     107,902  
Pavillions at San Mateo
 
I-40 at San Mateo, Albuquerque
 
Old Navy, Shoe Department, Skechers, Pima Medical Institute, Ultimate Electronics, Dollar Tree
    100.00 %         196,044     0     0     196,044  
Wyoming Mall
 
Academy Rd. at Northeastern, Albuquerque
 
Wal-Mart Supercenter + (O.B.O.), Dollar Tree
    100.00 %         51,713     0     216,134     267,847  
New Mexico Total:
 
# of Properties: 4
                    474,770     0     216,134     690,904  
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 %         120,604     0     207,602     328,206  
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
 
Wal-Mart Supercenter + (O.B.O.), Lowes (O.B.O.), BI-LO + (O.B.O.)
    100.00 %         41,941     0     402,620     444,561  
Bull City Market
 
Broad St. at West Main St., Durham
 
Whole Foods Market +
    100.00 %         42,517     0     0     42,517  
Hope Valley Commons
 
Highway 751 and Highway 54, Durham
 
Harris Teeter +
    100.00 %         81,371     0     0     81,371  
Mineral Springs Village
 
Mineral Springs Rd. at Wake Forest Rd., Durham
 
Rite Aid, Carlie C's IGA +
    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 +, Michaels, Belk’s
    100.00 %         252,038     0     0     252,038  
Avent Ferry
 
Avent Ferry Rd. at Gorman St., Raleigh
 
Food Lion +, Family Dollar
    100.00 %         111,622     0     0     111,622  
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 %         114,396     0     0     114,396  
Little Brier Creek
 
Little Brier Creek Lane and Brier Leaf Lane, Raleigh
 
Lowe's Food + (O.B.O.)
    100.00 %         17,119     0     45,802     62,921  
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  


 
Page 35

 


Weingarten Realty Investors
 
Property Listing
 
As of September 30, 2010  
                         
Gross Leasable Area
 
              WRI                 Joint     Owned        
             
Owned
   
Foot
   
WRI
   
Venture
   
by
       
Center
 
Location
 
Anchors
   
%
   
Notes
   
Owned
   
Share
   
Other
   
Total
 
                                               
Stonehenge Market
 
Creedmoor Rd. at Bridgeport Dr., Raleigh
 
Harris Teeter +, SteinMart
    100.00 %         188,521     0     0     188,521  
Heritage Station
 
Forestville Rd. at Rogers Rd., Wake Forest
 
Harris Teeter +
    30.00 %   (1)     20,592     48,049     0     68,641  
North Carolina Total:
 
# of Properties: 23
                    2,408,524     181,859     742,374     3,332,757  
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, Aaron Rents
    100.00 %         128,231     0     0     128,231  
Oklahoma Total:
 
# of Properties: 2
                    163,996     0     0     163,996  
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, Portland
 
Safeway +
    100.00 %         97,177     0     0     97,177  
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
                    119,909     90,927     62,600     273,436  
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 %         192,624     0     0     192,624  
Commons at Dexter Lake
 
Dexter at N. Germantown, Memphis
 
Kroger +, SteinMart, Marshalls
    30.00 %   (1)     50,087     116,871     0     166,958  
Commons at Dexter Lake Phase II
 
Dexter at N. Germantown, Memphis
 
Kroger +, SteinMart, Marshalls
    30.00 %   (1)     18,461     43,077     0     61,538  
Highland Square
 
Summer at Highland, Memphis
 
Walgreens
    100.00 %         14,490     0     0     14,490  
Mendenhall Commons
 
South Mendenahall Rd. and Sanderlin Avenue, Memphis
 
Kroger +
    30.00 %   (1)     25,154     58,693     0     83,847  
Summer Center
 
Summer Ave. at Waring Rd., Memphis
 
Kroger +, Ross Dress for Less
    100.00 %         137,335     0     0     137,335  
Tennessee Total:
 
# of Properties: 5
                    438,151     218,641     0     656,792  
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 %         48,149     0     0     48,149  
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.), 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  
Gateway Station
 
I-35W and McAlister Rd., Burleson
 
Conn's
    70.00 %   (1)     47,950     20,550     0     68,500  
Lone Star Pavilions
 
Texas at Lincoln Ave., College Station
 
Best Buy, Office Depot, Barnes & Noble
    100.00 %         106,907     0     0     106,907  
Montgomery Plaza
 
Loop 336 West at I-45, Conroe
 
Academy, Conn’s, 99 Cents Only, Petco, Anna's Linens, Spec's
    100.00 %         300,772     0     0     300,772  
Moore Plaza
 
S. Padre Island Dr. at Staples, Corpus Christi
 
Office Depot, Marshalls, H. E. B. +, (O.B.O.), Target (O.B.O.), Old Navy, Hobby Lobby, Steinmart
    100.00 %         371,098     0     161,909     533,007  
Horne Street Market
 
I-30 & Horne Street, Fort Worth
 
24 Hour Fitness
    100.00 %         42,267     0     0     42,267  
Overton Park Plaza
 
SW Loop 820/Interstate 20 at South Hulen St., Ft. Worth
 
Sports Authority, PetsMart, Office Depot, T.J. Maxx, Home Depot (O.B.O.), Goody Goody, Anna's Linens, Sprouts Farmers Market +
    100.00 %         356,322     0     110,000     466,322  
Broadway
 
Broadway at 59th St., Galveston
 
Big Lots, Family Dollar
    15.00 %   (1)     11,228     63,628     0     74,856  
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, Houston
 
Citi Trends, Palais Royal, Sellers Bros. +
    15.00 %   (1)     19,871     112,601     0     132,472  
Alabama-Shepherd
 
S. Shepherd at W. Alabama, Houston
 
PetsMart
    100.00 %         56,110     0     0     56,110  
Bayshore Plaza
 
Spencer Hwy. at Burke Rd., Houston
 
Fitness Connections (O.B.O.)
    100.00 %         36,039     0     86,000     122,039  
Bellaire Boulevard
 
Bellaire at S. Rice, Houston
 
Randall’s +
    30.00 %   (1)     10,524     24,557     0     35,081  


 
Page 36

 


Weingarten Realty Investors
 
Property Listing
 
As of September 30, 2010  
                         
Gross Leasable Area
 
              WRI                 Joint     Owned        
             
Owned
   
Foot
   
WRI
   
Venture
   
by
       
Center
 
Location
 
Anchors
   
%
   
Notes
   
Owned
   
Share
   
Other
   
Total
 
                                               
Braeswood Square
 
N. Braeswood at Chimney Rock, Houston
 
Belden’s +, Walgreens
    100.00 %         103,336     0     0     103,336  
Centre at Post Oak
 
Westheimer at Post Oak Blvd., Houston
 
Marshalls, Barnes & Noble, Old Navy, Grand Lux Café, Nordstrom Rack
    100.00 %         184,601     0     0     184,601  
Champions Village
 
F.M. 1960 at Champions Forest Dr., Houston
 
Randall’s +, SteinMart, Palais Royal, Cost Plus, Barnes & Noble
    30.00 %   (1)     115,374     269,207     0     384,581  
Cullen Center
 
Cullen at Reed, Houston
 
Beauty Supply
    100.00 %         7,316     0     0     7,316  
Cullen Plaza
 
Cullen at Wilmington, Houston
 
Fiesta +, JPMorgan Chase Bank, Family Dollar
    15.00 %   (1)     12,678     71,839     0     84,517  
Cypress Pointe
 
F.M. 1960 at Cypress Station, Houston
 
Kroger +, Office Depot, Babies “R” Us
    100.00 %         190,704     0     96,660     287,364  
Eastpark
 
Mesa Rd. at Tidwell, Houston
 
Jack in the Box, CVS/pharmacy (O.B.O.), US Postal Service (O.B.O.)
    100.00 %         1,576     0     0     1,576  
Edgebrook
 
Edgebrook at Gulf Fwy., Houston
 
Fiesta +, JPMorgan Chase Bank, Family Dollar
    15.00 %   (1)     11,769     66,691     0     78,460  
Fiesta Village
 
Quitman at Fulton, Houston
 
Fiesta +
    15.00 %   (1)     4,537     25,712     0     30,249  
Fondren/West Airport
 
Fondren at W. Airport, Houston
 
Save-A-Lot +
    100.00 %         37,117     0     0     37,117  
Glenbrook Square
 
Telephone Road, Houston
 
Kroger +, Blockbuster
    15.00 %   (1)     11,684     66,206     0     77,890  
Griggs Road
 
Griggs at Cullen, Houston
 
Family Dollar, Citi Trends
    15.00 %   (1)     12,017     68,099     0     80,116  
Harrisburg Plaza
 
Harrisburg at Wayside, Houston
 
Fallas Paredes
    15.00 %   (1)     14,016     79,422     0     93,438  
Heights Plaza
 
20th St. at Yale, Houston
 
Kroger +, Walgreens
    100.00 %         71,777     0     0     71,777  
Humblewood Shopping Plaza
 
Eastex Fwy. at F.M. 1960, Houston
 
Kroger +, Conn’s, Walgreens, Michaels (O.B.O.), DSW (O.B.O.)
    100.00 %         176,446     0     99,000     275,446  
I-45/Telephone Rd. Center
 
I-45 at Maxwell Street, Houston
 
Sellers Bros. +, Dollar Tree, FAMSA, Fallas Paredes
    15.00 %   (1)     25,768     146,021     0     171,789  
Jacinto City
 
Market at Baca, Houston
 
Sellers Bros. +
    50.00 %   (1)     24,569     24,569     0     49,138  
Kirby Strip Center
 
Kirby Dr, Houston
 
Freebirds Burrito
    100.00 %         10,000     0     0     10,000  
Lawndale
 
Lawndale at 75th St., Houston
 
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, Houston
 
Sellers Bros. +, Fallas Paredes
    15.00 %   (1)     17,082     96,796     0     113,878  
Lyons Avenue
 
Lyons at Shotwell, Houston
 
Fiesta +, Fallas Paredes
    15.00 %   (1)     10,144     57,485     0     67,629  
Market at Westchase
 
Westheimer at Wilcrest, Houston
 
Whole Foods Market +
    100.00 %         84,081     0     0     84,081  
North Main Square
 
Pecore at N. Main, Houston
 
O'Reilly Auto Parts
    100.00 %         18,515     0     0     18,515  
North Oaks
 
F.M. 1960 at Veterans Memorial, Houston
 
T.J. Maxx, Ross Dress for Less, Staples, Big Lots, DSW, Half Price Books, Anna's Linens, Hobby Lobby
    15.00 %   (1)     60,778     344,408     0     405,186  
North Triangle
 
I-45 at F.M. 1960, Houston
 
CiCi’s Pizza
    100.00 %         16,060     0     0     16,060  
Northbrook Center
 
Northwest Fwy. at W. 34th, Houston
 
Randall’s +, Office Depot, Citi Trends, Anna’s Linens, Dollar Tree
    100.00 %         173,288     0     0     173,288  
Northwest Crossing
 
N.W. Fwy. at Hollister, Houston
 
Target (O.B.O.), Marshalls, Babies “R” Us, Best Buy
    75.00 %   (1)(3)     136,177     45,392     120,721     302,290  
Oak Forest
 
W. 43rd at Oak Forest, Houston
 
Kroger +, Ross Dress for Less, Dollar Tree
    100.00 %         152,504     0     0     152,504  
Orchard Green
 
Gulfton at Renwick, Houston
 
Sellers Bros. +, Family Dollar
    100.00 %         74,983     0     0     74,983  
Randall's /Cypress Station
 
F.M. 1960 at I-45, Houston
 
ATI Career Training Center
    100.00 %         138,974     0     0     138,974  
Randall's /Kings Crossing
 
Kingwood Dr. at Lake Houston Pkwy., Houston
 
Randall’s +, CVS/pharmacy
    30.00 %   (1)     37,919     88,478     0     126,397  
Randall's /Norchester
 
Grant at Jones, Houston
 
Playa Azul Seafood & Oyster Bar
    100.00 %         107,200     0     0     107,200  
Richmond Square
 
Richmond Ave. at W. Loop 610, Houston
 
Best Buy (O.B.O.), Cost Plus
    100.00 %         35,623     0     58,247     93,870  
River Oaks East
 
W. Gray at Woodhead, Houston
 
Kroger +
    100.00 %         71,265     0     0     71,265  
River Oaks West
 
W. Gray at S. Shepherd, Houston
 
Barnes & Noble, Talbots, JoS. A. Bank, Ann Taylor, Gap
    100.00 %         248,820     0     0     248,820  
Sheldon Forest North
 
North, I-10 at Sheldon, Houston
 
Family Dollar
    100.00 %         22,040     0     0     22,040  
Sheldon Forest South
 
North, I-10 at Sheldon, Houston
 
Gerland’s +, Burke’s Outlet
    50.00 %   (1)     37,670     37,670     0     75,340  
Shops at Three Corners
 
S. Main at Old Spanish Trail, Houston
 
Fiesta +, Office Depot, PetsMart, Ross Dress for Less, Big Lots
    70.00 %   (1)     172,990     74,139     0     247,129  
Southgate
 
W. Fuqua at Hiram Clark, Houston
 
Food-A-Rama +, Palais Royal, CVS/pharmacy, Family Dollar
    15.00 %   (1)     18,789     106,471     0     125,260  
Spring Plaza
 
Hammerly at Campbell, Houston
 
Sellers Bros. +, Family Dollar
    15.00 %   (1)     8,875     50,291     0     59,166  
Stella Link
 
Stella Link at S. Braeswood, Houston
 
Sellers Bros.+, Spec’s Liquor Warehouse, Burke’s Outlet
    100.00 %         96,396     0     0     96,396  
Studemont
 
Studewood at E. 14th St, Houston
 
Fiesta +
    100.00 %         28,466     0     0     28,466  
Ten Blalock Square
 
I-10 at Blalock, Houston
 
99 Ranch Market +
    100.00 %         97,277     0     0     97,277  
Village Arcade
 
University at Kirby, Houston
 
Gap, Baby Gap, Chicos
    100.00 %         57,219     0     0     57,219  
Village Arcade-Phase II
 
University at Kirby, Houston
 
Talbots
    100.00 %         28,371     0     0     28,371  
Village Arcade-Phase III
 
University at Kirby, Houston
 
American Eagle Outfitters, Banana Republic, Express
    100.00 %         107,134     0     0     107,134  
Westchase Center
 
Westheimer at Wilcrest, Houston
 
Ross Dress for Less, Randall’s +, Golfsmith, Palais Royal, Petco, Target (O.B.O.)
    100.00 %         231,477     0     99,550     331,027  
Westhill Village
 
Westheimer at Hillcroft, Houston
 
Ross Dress for Less, Office Depot, 99 Cents Only, Anna’s Linens
    100.00 %         127,512     0     0     127,512  
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  


 
Page 37

 


Weingarten Realty Investors
 
Property Listing
 
As of September 30, 2010  
                         
Gross Leasable Area
 
              WRI                 Joint     Owned        
             
Owned
   
Foot
   
WRI
   
Venture
   
by
       
Center
 
Location
 
Anchors
   
%
   
Notes
   
Owned
   
Share
   
Other
   
Total
 
                                               
Cedar Bayou
 
Bayou Rd., La Marque
 
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.), Marshalls
    100.00 %         239,477     0     206,463     445,940  
Plantation Centre
 
Del Mar Blvd. at McPherson Rd., Laredo
 
H. E. B. +, Blockbuster
    100.00 %         134,853     0     0     134,853  
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 %         151,677     0     0     151,677  
Angelina Village
 
Hwy. 59 at Loop 287, Lufkin
 
Kmart, 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, Marshals, Office Depot
    50.00 %   (1)(3)     143,968     143,968     212,132     500,067  
Market at Nolana
 
Nolana Ave and 29th St., McAllen
 
Wal-Mart (O.B.O.)
    50.00 %   (1)(3)     20,342     20,342     203,818     244,501  
Northcross
 
N. 10th St. at Nolana Loop, McAllen
 
Barnes & Noble
    50.00 %   (1)(3)     37,758     37,758     0     75,517  
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, Harbor Freight
    100.00 %         170,363     0     0     170,363  
Market at Sharyland Place
 
U.S. Expressway 83 and Shary Road, Mission
 
Wal-Mart (O.B.O.), Kohl's, Dollar Tree
    50.00 %   (1)(3)     56,456     56,456     188,262     301,174  
Sharyland Towne Crossing
 
Shary Rd. at Hwy. 83, Mission
 
Target (O.B.O.), H. E. B. +, T.J. Maxx, Petco, Office Depot, Ross Dress for Less
    50.00 %   (1)(3)     172,889     172,889     131,909     477,687  
Custer Park
 
SWC Custer Road at Parker Road, Plano
 
Kroger + (O.B.O.)
    100.00 %         114,489     0     65,084     179,573  
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., Plano
 
SteinMart, Old Navy, Office Depot, Marshalls, Babies "R" Us, Borders, PETCO Animal Supplies Inc.
    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)     88,346     88,346     0     176,693  
Rockwall
 
I-30 at Market Center Street, Rockwall
 
Office Max, Petco, Ross Dress for Less, Old Navy, Michaels
    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.), Walgreens (O.B.O.)
    100.00 %         40,513     0     81,176     121,689  
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.), Act III Theatres, Marshalls, Office Max,
    100.00 %         312,370     0     176,000     488,370  
   
SteinMart, Petco, Anna’s Linens
                                         
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
 
Marshalls, Blockbuster, Dollar Tree
    100.00 %         91,544     0     0     91,544  
Market at Town Center
 
Town Center Blvd., Sugar Land
 
Old Navy, Home Goods, Marshalls, DSW Shoe Warehouse, Ross Dress for Less
    100.00 %         375,547     0     0     375,547  
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
 
Dollar Tree, Big Lots (O.B.O.)
    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  
Texas Total:
 
# of Properties: 98
                    8,945,005     3,334,478     2,625,499     14,904,982  
Utah
                                             
Alpine Valley Center
 
Main St. at State St., American Fork
 
Super Target + (O.B.O.), Old Navy, Justice, 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
 
Fresh Market + (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
 
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
                                             
Mukilteo Speedway Center
 
Mukilteo Speedway, Lincoln Way, and Highway 99, Lynnwood
 
Food Emporium +, Dollar Tree
    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  


 
Page 38

 


Weingarten Realty Investors
 
Property Listing
 
As of September 30, 2010  
                         
Gross Leasable Area
 
              WRI                 Joint     Owned        
             
Owned
   
Foot
   
WRI
   
Venture
   
by
       
Center
 
Location
 
Anchors
   
%
   
Notes
   
Owned
   
Share
   
Other
   
Total
 
                                               
South Hill Center
 
43rd Avenue Southwest and Meridian Street South, Puyallup
 
Best Buy, Bed Bath & Beyond, Ross Dress for Less
    20.00 %   (1)(3)     26,802     107,208     0     134,010  
Rainer Square Plaza
 
Rainer Avenue South and South Charleston Street, Seattle
 
Safeway +, Ross Dress for Less
    20.00 %   (1)(3)     21,485     85,938     0     107,423  
Washington Total:
 
# of Properties: 4
                    81,875     327,497     65,346     474,718  
                                               
Industrial
                                             
Operating Properties
                                             
                                               
California
                                             
Siempre Viva Business Park
 
Siempre Viva Rd. at Kerns St., San Diego
 
Hitachi Transport, Eaton Electrical Inc., Bose Corporation
    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 Interstate 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.,
    100.00 %         159,000     0     0     159,000  
Hopewell Industrial Center
 
Old Hopewell Boulevard and U.S. Highway 301, Tampa
 
Parts Depot, Inc., South Dade Automotive
    100.00 %         224,483     0     0     224,483  
Tampa East Industrial Portfolio
 
1841 Massaro Blvd., Tampa
 
General Electric, Florida Air Conditioning Distrib, HD Supply Plumbing, 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 %         382,120     0     0     382,120  
Atlanta Industrial Parkway
 
Atlanta Industrial Pkwy. at Atlanta Industrial Dr., Atlanta
 
Vacant
    100.00 %         50,000     0     0     50,000  
Riverview Distribution Center
 
Fulton Industrial Blvd. at Camp Creek Parkway, Atlanta
 
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
 
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  
6485 Crescent Drive
 
I-85 at Jimmy Carter Blvd., Norcross
 
Zurn, Pax Industries
    20.00 %   (1)(3)     72,092     288,368     0     360,460  
Georgia Total:
 
# of Properties: 8
                    1,609,579     610,411     0     2,219,990  
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, Kuehne & Nagel, TricorBraun
    20.00 %   (1)(3)     82,088     328,350     0     410,438  
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
                    684,798     455,429     0     1,140,227  
Texas
                                             
Midpoint I-20 Distribution Center
 
New York Avenue and Arbrook Boulevard,
 
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 %         119,753     0     0     119,753  
Oak Hills Industrial Park   Industrial Oaks Blvd., Austin   Terracon, Inc., Illumitex     100.00         89,858     0     0     89,858  


 
Page 39

 


Weingarten Realty Investors
 
Property Listing
 
As of September 30, 2010  
                         
Gross Leasable Area
 
              WRI                 Joint     Owned        
             
Owned
   
Foot
   
WRI
   
Venture
   
by
       
Center
 
Location
 
Anchors
   
%
   
Notes
   
Owned
   
Share
   
Other
   
Total
 
                                               
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
 
Texas EZ Pawn
    100.00 %         78,276     0     0     78,276  
Southpoint Service Center
 
Burleson at Promontory Point Dr., Austin
 
Browning Construction Co., Ltd.
    100.00 %         57,697     0     0     57,697  
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
 
Luxury of Leather, Jet Pay, LLC
    100.00 %         141,246     0     0     141,246  
Manana Office Center
 
I-35 at Manana, Dallas
 
Dave & Busters, All-Tex Supply
    100.00 %         223,128     0     0     223,128  
Newkirk Service Center
 
Newkirk near N.W. Hwy., Dallas
 
Restaurant Technologies, Corporate Meeting Services
    100.00 %         105,892     0     0     105,892  
Northeast Crossing Office/Service Center
 
East N.W. Hwy. at Shiloh, Dallas
 
ASCOA - Ambulatory Surgical Center
    100.00 %         78,700     0     0     78,700  
Redbird Distribution Center
 
Joseph Hardin Drive, Dallas
 
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., Aero-Med, Ltd.
    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., Houston
 
Iron Mountain
    20.00 %   (1)(3)     48,728     194,914     0     243,642  
610 and 11th St. Warehouse
 
Loop 610 at 11th St., Houston
 
Prefco Corp.
    100.00 %         104,975     0     0     104,975  
610/288 Business Park
 
Cannon Street, Houston
 
Palmer Logistics, Dupuy Storage
    20.00 %   (1)(3)     59,060     236,240     0     295,300  
Beltway 8 Business Park
 
Beltway 8 at Petersham Dr., Houston
 
Premier Home Technology
    100.00 %         157,498     0     0     157,498  
Blankenship Building
 
Kempwood Drive, Houston
 
Star Displays
    100.00 %         59,359     0     0     59,359  
Brookhollow Business Center
 
Dacoma at Directors Row, Houston
 
YMCA of Greater Houston, Surgeon's Management, Houston Digital Instruments
    100.00 %         133,970     0     0     133,970  
Crestview
 
Bissonnet at Wilcrest, Houston
 
Creative Connection
    100.00 %         8,970     0     0     8,970  
Crosspoint Warehouse
 
Crosspoint, Houston
 
Foam Enterprises, LLC
    100.00 %         72,505     0     0     72,505  
Houston Cold Storage Warehouse
 
7080 Express Lane, Houston
 
Houston Central Industries, Inc.
    100.00 %         128,752     0     0     128,752  
Kempwood Industrial
 
Kempwood Dr. at Blankenship Dr., Houston
 
Pioneer Contract Services
    100.00 %         113,218     0     0     113,218  
Kempwood Industrial
 
Kempwood Dr. at Blankenship Dr., Houston
 
Pioneer Contract Services, Veritas Geophysical Corporation
    20.00 %   (1)(3)     43,898     175,591     0     219,489  
Lathrop Warehouse
 
Lathrop St. at Larimer St., Houston
 
United D.C., Inc.
    20.00 %   (1)(3)     50,378     201,512     0     251,890  
Navigation Business Park
 
Navigation at N. York, Houston
 
Genesis Worldwide Logistics, Synergy Cables USA
    20.00 %   (1)(3)     47,603     190,411     0     238,014  
Northway Park II
 
Loop 610 East at Homestead, Houston
 
Jet Lube, Inc., South Texas Bolt & Fitting, Custom Polymers
    20.00 %   (1)(3)     60,697     242,786     0     303,483  
Railwood F
 
Market at U.S. 90, Houston
 
Shell Oil Company
    20.00 %   (1)(3)     60,000     240,000     0     300,000  
Railwood G
 
Mesa at U.S. 90 , Houston
 
Global Stainless Supply, Inc.
    50.00 %   (1)(3)     105,425     105,425     0     210,850  
Railwood Industrial Park
 
Mesa at U.S. 90, Houston
 
DSC Logistics, Georgia Gulf Chemicals & Vinyl
    20.00 %   (1)(3)     99,531     398,125     0     497,656  
Railwood Industrial Park
 
Mesa at U.S. 90, Houston
 
Distribution International SW, AJ Logistics, YRC Logistics Services
    100.00 %         402,680     0     0     402,680  
South Loop Business Park
 
S. Loop at Long Dr., Houston
 
Lumber Liquidators
    50.00 %   (1)(3)     46,275     46,275     0     92,550  
Southport Business Park 5
 
South Loop 610, Houston
 
Surface Preparation - Texas, LLC
    100.00 %         160,011     0     0     160,011  
Stonecrest Business Center
 
Wilcrest at Fallstone, Houston
 
Alpha Omega Caseworks
    100.00 %         110,783     0     0     110,783  
Town & Country Commerce Center
 
I-10 at Beltway 8, Houston
 
Arizona Tile, Seitel
    100.00 %         206,056     0     0     206,056  
West 10 Business Center II
 
Wirt Rd. at I-10, Houston
 
Summers Group, Inc.
    100.00 %         82,658     0     0     82,658  
West Loop Commerce Center
 
W. Loop N. at I-10, Houston
 
Inter-Tel Technologies
    100.00 %         34,256     0     0     34,256  
West-10 Business Center
 
Wirt Rd. at I-10, Houston
 
Network-Interstate Co.
    100.00 %         99,883     0     0     99,883  
Westgate Service Center
 
Park Row Drive at Whiteback Dr., Houston
 
Welltec, Inc., 3M Company, CAS Holdings, Inc.
    100.00 %         122,096     0     0     122,096  
Freeport Commerce Center
 
Sterling Street and Statesman Drive, Irving
 
McGraw Hill Companies, Inc., TKS (U.S.A.), Inc.
    100.00 %         50,590     0     0     50,590  
Central Plano Business Park
 
Klein Rd. at Plano Pkwy., Plano
 
CK Management, Inc., Underwriters Laboratories, Motion Dynamics
    100.00 %         137,785     0     0     137,785  
Jupiter Business Park
 
Jupiter Rd at Summit Ave, Plano
 
Ericsson Radio Systems
    100.00 %         189,532     0     0     189,532  
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 Realty Regional Office, Quadravox, Inc.
    100.00 %         101,140     0     0     101,140  
Crosswinds Distribution Center   Tech Com at Wurzback Parkway, San Antonio   American Tile Supply     100.00         142,276     0     0     142,276  
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, 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 %         251,645     0     0     251,645  
Texas Total:
 
# of Properties: 51
                    6,501,019     2,031,279     0     8,532,298  


 
Page 40

 


Weingarten Realty Investors
 
Property Listing
 
As of September 30, 2010  
                         
Gross Leasable Area
 
              WRI                 Joint     Owned        
             
Owned
   
Foot
   
WRI
   
Venture
   
by
       
Center
 
Location
 
Anchors
   
%
   
Notes
   
Owned
   
Share
   
Other
   
Total
 
                                               
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, Techturn, The Kane Company, Wholesale Millwork
    20.00 %   (1)(3)     58,623     234,492     0     293,115  
Enterchange at Meadowville
 
2101 Bermuda Hundred Dr, Chester
 
United States Army
    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)     121,336     485,343     0     606,679  
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 %         287,318     0     0     287,318  
Interport Business Center A
 
4800-4890 Eubank Road, Richmond
 
Anderson News, LLC, Three Way, Wyeth-Ayerst Pharmaceuticals
    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., EGL Eagle Global Logistics, LP, Commonwealth of Virginia Departement 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
                    904,159     1,607,058     0     2,511,217  
                                               
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, Houston
 
State of Texas, Weingarten Realty Regional Office
    100.00 %         139,449     0     0     139,449  
Citadel Plaza
 
Citadel Plaza Dr., Houston
 
Weingarten Realty Investors Corporate Office
    100.00 %         121,000     0     0     121,000  
Texas Total:
 
# of Properties: 2
                    260,449     0     0     260,449  
                                               
Total Operating Properties
 
# of Properties: 378
                    43,044,146     14,497,272     10,478,985     68,013,330  
                                               
                                               
New Development
                                             
Colorado
                                             
River Point at Sheridan
 
Highway 85 and Highway 285, Sheridan
        50.00 %   (1)(2)     51,448     51,448     331,174     434,070  
The Gardens on Havana
 
Mississippi at Havana, Aurora
        39.80 %   (1)(2)(3)     324,224     490,613     143,697     958,534  
Colorado Total:
 
# of Properties: 2
                    375,672     542,061     474,871     1,392,604  
Florida
                                             
Clermont Landing
 
U.S. 27 & Steve's Road, Clermont
        55.00 %   (1)(2)(3)     77,427     63,350     104,175     244,952  
Florida Total:
 
# of Properties: 1
                    77,427     63,350     104,175     244,952  
North Carolina
                                             
Surf City Crossing
 
Highway 17 and Highway 210, Surf City
        100.00 %   (2)     53,776     0     0     53,776  
Waterford Village
 
U.S. Hwy 17 & U.S. Hwy 74/76, Leland
        100.00 %   (2)     78,959     0     0     78,959  
North Carolina Total:
 
# of Properties: 2
                    132,735     0     0     132,735  
Tennessee
                                             
Ridgeway Trace
 
Poplar Avenue and Ridgeway Road, Memphis
        100.00 %   (2)     113,817     0     137,740     251,557  
Tennessee Total:
 
# of Properties: 1
                    113,817     0     137,740     251,557  
Texas
                                             
Claywood Industrial Park
 
Clay at Hollister, Houston
        100.00 %   (2)     101,125     0     200,850     301,975  


 
Page 41

 


Weingarten Realty Investors
 
Property Listing
 
As of September 30, 2010  
                         
Gross Leasable Area
 
              WRI                 Joint     Owned        
             
Owned
   
Foot
   
WRI
   
Venture
   
by
       
Center
 
Location
 
Anchors
   
%
   
Notes
   
Owned
   
Share
   
Other
   
Total
 
                                               
North Towne Plaza
 
U.S. 77 and 83 at SHFM 802, Brownsville
        100.00 %   (2)     8,000     0     117,000     125,000  
Tomball Marketplace
 
FM 2920 and Future 249, Tomball
        100.00 %   (2)     15,341     0     85,000     100,341  
Westwood Center
 
Culebra Road and Westwood Loop, San Antonio
        100.00 %   (2)     12,580     0     0     12,580  
Texas Total:
 
# of Properties: 4
                    137,046     0     402,850     539,896  
Total New Developments
 
# of Properties: 10
                    836,697     605,411     1,119,636     2,561,744  
                                               
Unimproved Land
                                             
Arizona
                                             
Bullhead Parkway at State Route 95, Bullhead City
                                          312,761  
Lon Adams Rd at Tangerine Farms Rd, Marana
                                          422,532  
Southern Avenue and Signal Butte Road, Mesa
                                          90,605  
Arizona Total:
                                          825,898  
California
                                             
Bear Valley Road at Jess Ranch Parkway Phase II, Apple Valley
                                          138,956  
Bear Valley Road at Jess Ranch Parkway Phase III, Apple Valley
                                          473,497  
California Total:
                                          612,453  
Colorado
                                             
Mississippi at Havana, Aurora
                                          669,953  
Highway 85 and Highway 285, Sheridan
                                          1,003,187  
Colorado Total:
                                          1,673,140  
Florida
                                             
Young Pines and Curry Ford Rd, Orange County
                                          132,422  
State Road 100 & Belle Terre Parkway, Palm Coast
                                          292,288  
SR 207 at Rolling Hills Dr, St. Augustine
                                          228,254  
Florida Total:
                                          652,964  
Georgia
                                             
NWC South Fulton Parkway @ Hwy 92, Union City
                                          3,554,496  
Georgia Total:
                                          3,554,496  
Louisiana
                                             
Ambassador Caffery at W. Congress, Lafayette
                                          34,848  
70th St. at Mansfield Rd., Shreveport
                                          41,818  
Louisiana Total:
                                          76,666  
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
                                          549,727  
Creedmoor (Highway 50) and Crabtree Valley Avenue, Raleigh
                                          510,959  
U.S. 15-501 and Bruce Wood Rd, Southern Pines
                                          1,047,182  
Highway 17 and Highway 210, Surf City
                                          2,024,233  
U.S. Highway 1 at Caveness Farms Rd., Wake Forest
                                          3,074,900  
North Carolina Total:
                                          7,207,001  
Tennessee
                                             
Poplar Avenue and Ridgeway Road, Memphis
                                          53,579  
Tennessee Total:
                                          53,579  


 
Page 42

 


Weingarten Realty Investors
 
Property Listing
 
As of September 30, 2010  
                         
Gross Leasable Area
 
              WRI                 Joint     Owned        
             
Owned
   
Foot
   
WRI
   
Venture
   
by
       
Center
 
Location
 
Anchors
   
%
   
Notes
   
Owned
   
Share
   
Other
   
Total
 
                                               
Texas
                                             
U.S. 77 and 83 at SHFM 802, Brownsville
                                          954,835  
Rock Prairie Rd. at Hwy. 6, College Station
                                          3,351,506  
River Pointe Drive at Interstate 45, Conroe
                                          118,483  
Leslie Rd. at Bandera Rd., Helotes
                                          74,052  
Bissonnet at Wilcrest, Houston
                                          40,946  
Citadel Plaza at 610 North Loop, Houston
                                          137,214  
East Orem, Houston
                                          121,968  
Kirkwood at Dashwood Drive, Houston
                                          321,908  
Mesa Road at Tidwell, Houston
                                          35,719  
Northwest Freeway at Gessner, Houston
                                          117,612  
West Little York at Interstate 45, Houston
                                          161,172  
West Loop North at Interstate 10, Houston
                                          145,055  
Nolana Ave and 29th St., McAllen
                                          163,350  
Shary Rd. at North Hwy. 83, Mission
                                          1,607,364  
9th Ave. at 25th St., Port Arthur
                                          243,065  
Culebra Road and Westwood Loop, San Antonio
                                          403,366  
FM 1957 (Potranco Road) and FM 211, San Antonio
                                          8,655,372  
SH 151 and Ingram Rd, San Antonio
                                          369,389  
US Hwy 281 at Wilderness Oaks, San Antonio
                                          1,269,774  
Highway 3 at Highway 1765, Texas City
                                          200,812  
FM 2920 and Highway 249, Tomball
                                          1,467,972  
Texas Total:
                                          19,960,934  
Utah
                                             
South 300 West & West Paxton Avenue, Salt Lake City
                                          324,958  
Utah Total:
                                          324,958  
Total Unimproved Land
                                          36,045,899  


 
Page 43

 


 
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
Other Topics of Interest
 
 
                       
                       
                       
                       
                       
                       
                       
                       
                       
                   
                       
                   
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       



 
 

 


Weingarten Realty Investors
Supplemental Leasing Information
(in thousands at pro rata share)
                         
Blockbuster Summary
               
% of
       
   
# of Units
   
Rental Revenue
   
Rental Revenue
   
Square Feet
 
As of 6/30/10
    42       4,538       0.79 %     194  
                                 
Franchise units
    -6       -443       -0.08 %     -23  
                                 
Terminated
    -7       -725       -0.13 %     -35  
                                 
Net remaining units
    29       3,370       0.59 %     136  
 
                                 
                                 
                                 
                                 
                                 
                                 
                                 
                                 
                                 
                                 
                                 
                                 
                                 
   
                                 
Percentage of 2011 Retail Renewals Completed
                                 
                                 
                           
% of 2011
 
                           
Renewals
 
   
Renewed SF
   
Expiring SF (1)
   
Total
   
Completed
 
                                 
1Q 2011
    841       423       1,264       67 %
2Q 2011
    192       436       628       31 %
3Q 2011
    105       341       446       23 %
4Q 2011
    25       421       446       6 %
                                 
Total 2011
    1,163       1,621       2,784       42 %
                                 
(1)  Excludes tenants with options that are exercisable in 2011
                 


 
Page 45

 


Weingarten Realty Investors
 
Reconciliation of Adjusted Funds from Operations for Exclusion of Certain Transactions
 
(per share amounts)
 
                         
   
Three Months Ended
   
Nine Months Ended
 
   
September 30, 2010
   
September 30, 2009
   
September 30, 2010
   
September 30, 2009
 
                         
Funds from Operations per Common Share - Diluted as Reported
  $ 0.40     $ 0.25     $ 1.09     $ 1.56  
                                 
Impairment Loss, net of taxes:
                               
Impairment Loss
    0.04       0.27       0.18       0.31  
Discontinued Operations
            0.02               0.03  
Equity Loss of Real Estate Joint Ventures and Partnerships
            0.06               0.06  
Provision for Income Taxes:
                               
Tax Benefit Related to Current Impairment Charges
            (0.04 )             (0.04 )
Valuation Allowance Against Deferred Tax Asset
            0.08               0.08  
Net Income Attributable to Noncontrolling Interests
            (0.01 )             (0.01 )
Total Impairment Loss
    0.04       0.38       0.18       0.43  
                                 
Write-off of Misc. Notes Receivables:
                               
Equity Loss of Real Estate Joint Ventures and Partnerships
            0.01               0.01  
                                 
Gain on Redemption of Convertible Senior Unsecured Notes
            (0.14 )             (0.24 )
                                 
Adjusted Funds from Operations per Common Share - Diluted
  $ 0.44     $ 0.50     $ 1.27     $ 1.76  

 
 
Page 46