8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported):  February 28, 2011

WEINGARTEN REALTY INVESTORS

(Exact name of Registrant as specified in its Charter)

Texas	1-9876	74-1464203
(State or other jurisdiction of incorporation)	(Commission file number)	(I.R.S. Employer Identification Number)

2600 Citadel Plaza Drive, Suite 125, Houston, Texas 77008

(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code:  (713) 866-6000

Not applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02.                      Results of Operations and Financial Condition.

On February 28, 2011, we issued a press release describing our results of operations for the fourth quarter and full year ended December 31, 2010, as well as providing supplemental financial information pertaining to our operations.  A copy of the press release and supplemental financial information are attached as Exhibit 99.1 and Exhibit 99.2 to this report.

The information, including exhibits hereto, in this Current Report on Form 8-K is being furnished and shall not be deemed "filed" with the Securities and Exchange Commission and shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, except as otherwise expressly stated in such filing.

Item 9.01.                      Financial Statements and Exhibits.

99.1 Press release dated February 28, 2011, regarding our results of operations for the fourth quarter and full year ended December 31, 2010.

99.2 Supplemental Financial Information.

2

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date:  March 1, 2011

WEINGARTEN REALTY INVESTORS

By:  /s/ Joe D. Shafer

Joe D. Shafer

Senior Vice President/

Chief Accounting Officer

3

INDEX TO EXHIBITS

99.1 Press release dated February 28, 2011, regarding our results of operations for the fourth quarter and full year ended December 31, 2010.

99.2 Supplemental Financial Information.

4

EX-99.1

EXHIBIT 99.1

 

2600 Citadel Plaza Drive

P.O. Box 924133

Houston, Texas 77292-4133

NEWS RELEASE

Information: Kristin Horn, Director of Investor Relations, Phone: (713) 866-6050

WEINGARTEN REALTY INCREASES QUARTERLY DIVIDEND

5.8% AND REPORTS FOURTH QUARTER AND

FULL YEAR 2010 RESULTS

Houston, February 28, 2011 --- Weingarten Realty (NYSE: WRI) announced today the results of its operations for the fourth quarter and full year ended December 31, 2010.  The supplemental financial package with additional information can be found on the company’s website under the Investor Relations tab.

Fourth Quarter Operating and Financial Highlights

·   Recurring Funds from Operations (“FFO”), was $51.6 million or $0.43 per diluted share.  Reported FFO was $0.33 per diluted share for the quarter;

·   Same Property Net Operating Income (“NOI”) increased by 0.4% over the fourth quarter of the prior year, with retail properties up 0.3% and industrial up 0.7%;

·   Retail occupancy improved to 93.0% during the fourth quarter, up from 91.8% a year ago; and

·   The Board of Trust Managers increased the common dividend 5.8% to $0.275 per quarter or $1.10 annually.

Financial Results

The Company reported a net loss attributable to common shareholders of $2.6 million or $0.02 per diluted share for the fourth quarter of 2010, as compared to net income of $72.6 million or $0.60 per share for the same period in 2009.  Net income attributable to common shareholders for the full year 2010 was $10.7 million or $0.09 per diluted share compared to $135.6 million or $1.23 per share for the full year 2009.

Going forward, Weingarten will use Recurring FFO which excludes the redemption of notes, impairments, acquisition costs and gains on land and merchant development sales, as the Company believes these items are not indicative of on-going operations.

Recurring FFO, which excludes the non-cash impairment for the quarter ended December 31, 2010, was $0.43 per diluted share or $51.6 million.  For the same quarter last year, Recurring FFO was $0.45 per diluted share or $54.5 million. The decrease in Recurring FFO from the prior year was primarily due to a reduction in lease cancellation income. Reported FFO which includes the above adjustments, was $39.1 million or $0.33 per diluted share for the fourth quarter of 2010 compared to $51.6 million or $0.42 per diluted share for 2009.

The current quarter non-cash impairment of $0.10 per diluted share was the result of a reduction in the fair value of municipal bonds held by the Company related to the Sheridan development.

Recurring FFO for the full year ended December 31, 2010 was $204.9 million or $1.70 per diluted share compared to $223.0 million or $2.02 per diluted share for the full year ended December 31, 2009. This year-over-year reduction is primarily a result of dilution from our April 2009 common share offering, the full year effect of our 2009 disposition program and reduced lease cancellation income.  Reported FFO for the full year ended December 31, 2010 was $171.1 million or $1.42 per diluted share compared to $217.3 million or $1.97 per diluted share for the full year ended December 31, 2009.

A reconciliation of net income attributable to common shareholders to Reported FFO and Recurring FFO is listed on page 5 of the supplemental package.

Operating Results

Same Property Net Operating Income during the fourth quarter increased by 0.4%, versus a year ago, with retail properties up 0.3%.   These results are primarily driven by leases that were previously signed and commenced during the quarter.

The Company produced strong leasing results again during the fourth quarter with 382 new leases and renewals, totaling 1.7 million square feet and which represents $19.8 million of annual revenue.  The 382 transactions were comprised of 182 new leases and 200 renewals, which represent annual revenues of $9.3 million and $10.5 million, respectively. 

Retail occupancy increased to 93.0% in the fourth quarter from 92.6% in the third quarter 2010.  Overall, occupancy increased to 91.9% compared to 91.1% during the third quarter of 2010.  Industrial occupancy increased to end the year at 88.8% leased.

“We are pleased with the results our team achieved throughout the year.  Leasing velocity remained high allowing us to increase retail occupancy by 120 basis points from a year ago.  Spaces over 10,000 square feet are 97.5% leased and rental rates have improved.  We had a successful year,” said Johnny Hendrix, Executive Vice President and Chief Operating Officer.

Acquisitions

During the quarter, the Company closed on five retail acquisitions representing an investment of $167.8 million.

1.   Village Plaza at Bunker Hill is a 491,000 square foot project located in Houston, Texas along the heavily trafficked I-10 Freeway that is traveled by 246,000 cars per day.  Key tenants include an HEB supermarket, Academy Sports and Outdoors, Babies R Us and PetSmart, along with other great retailers.  This center boasts a three mile population of over 150,000 with an average household income of $110,000 per year.  WRI acquired 58% of Bunker Hill in a joint venture with the current owner/developer, Fidelis Realty Partners.

2.   Edgewater Marketplace located in Denver, CO is an infill property with a population density of 159,000 within a three mile radius of the center.  The center is anchored by King Sooper (Kroger), the supermarket leader in Denver and also includes Target, which owns its facility.  The 145,000 square foot project is 98% leased.

3.   Palms of Carrollwood is a 168,000 square foot shopping center located in Tampa, FL anchored by The Fresh Market and is currently 89.0% leased.  The Fresh Market is a European style high-end supermarket that operates 100 stores in 20 states and caters to clientele focused on perishable goods and superior service.  The center benefits from population densities of over 100,000 within a three mile radius.

4.   Desert Village, a 102,000 square foot retail shopping center located in North Scottsdale, AZ, is anchored by AJ’s Fine Foods and is 95% leased.  AJ’s is a boutique, high-end supermarket that operates thirteen locations within Arizona.  This quality location is supported by average household incomes of $168,000 in the trade area.

5.   Stoneridge Shopping Center is a 178,000 square foot retail shopping center located in Moreno Valley, CA, anchored by a Super Target and Kohl’s, both of which own their facilities.  Other significant tenants include Best Buy and Office Max.  WRI purchased a 67% interest in this property through a joint venture.  This recently developed center is currently 88% leased allowing for further upside as occupancy improves.

“Our “boots on the ground” strategy paid off this year as Weingarten was able to invest over $196 million in high-quality assets in our target markets through a combination of long standing relationships and in-depth market knowledge.  On average, the eight properties acquired in 2010 will generate around a 7% return,” said Drew Alexander, President and Chief Executive Officer.

Financing

During the quarter, the Company settled $296 million of fixed to floating rate swaps that were purchased in December of 2009.  These sales resulted in a gain of $8.3 million which will be primarily amortized over the remaining term of the related debt.  This reduced floating rate debt as a percentage of total debt to under 10% at December 31, 2010.

“Our balance sheet remains strong with sufficient liquidity to easily handle our 2011 maturities which total $212.3 million.  We have $450 million of capacity under our revolving line of credit available at December 31, 2010 for acquisitions, new development or to handle any debt maturities,” said Steve Richter, Executive Vice President and Chief Financial Officer.

Dividend

On February 25, 2011, the Board of Trust Managers declared an increase in the common dividend to $0.275 per share for the first quarter of 2011. This represents a 5.8% increase resulting in an annualized dividend of $1.10 per share.  The dividend is payable in cash on March 15, 2011 to shareholders of record on March 8, 2011.

The Board of Trust Managers also declared dividends on the Company’s preferred shares. Dividends related to the 6.75% Series D Cumulative Redeemable Preferred Shares (NYSE:WRIPrD) are $0.421875 per share for the quarter. Dividends on the 6.95% Series E Cumulative Redeemable Preferred Shares (NYSE:WRIPrE) are $0.434375 per share for the same period. Dividends on the 6.50% Series F Cumulative Redeemable Preferred Shares (NYSE:WRIPrF) are $0.40625 per share for the quarter. All preferred dividends are also payable on March 15, 2011 to shareholders of record on March 8, 2011.

Recurring FFO Guidance

The Company issued full year Recurring FFO guidance in the range of $1.72 to $1.82 per diluted share. A full listing of guidance and assumptions is included on page 46 of the supplemental package.

Conference Call Information

The Company also announced that it will host a live webcast of its quarterly conference call on February 28, 2011 at 10:00 a.m. Central Time. The live webcast can be accessed via the Company’s website at www.weingarten.com. Alternatively, if you are not able to access the call on the web, you can listen live by phone by calling (877) 763-1324 (conference ID # 35296878). A replay and Podcast will be available through the Company’s web site starting approximately two hours following the live call.

About Weingarten Realty Investors

Weingarten Realty Investors (NYSE: WRI) is a commercial real estate owner, manager and developer.  At December 31, 2010, the Company owned or operated under long-term leases, either directly or through its interest in real estate joint ventures or partnerships, a total of 383 developed income-producing properties and 9 properties under various stages of construction and development. The total number of properties includes 312 neighborhood and community shopping centers located in 22 states spanning the country from coast to coast. The Company also owns 77 industrial projects located in California, Florida, Georgia, Tennessee, Texas and Virginia and three other operating properties located in Arizona and Texas.   At December 31, 2010, the Company’s portfolio of properties was approximately 71.5 million square feet.& #160; To learn more about the Company’s operations and growth strategies, please visit www.weingarten.com.

Forward-Looking Statements

Statements included herein that state the Company’s or Management’s intentions, hopes, beliefs, expectations or predictions of the future are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 which by their nature, involve known and unknown risks and uncertainties. The Company’s actual results, performance or achievements could differ materially from those expressed or implied by such statements. Reference is made to the Company’s regulatory filings with the Securities and Exchange Commission for information or factors that may impact the Company’s performance.

Financial Statements
Weingarten Realty Investors
(in thousands, except per share amounts)
		Three Months Ended						Twelve Months Ended
		December 31,						December 31,
CONDENSED CONSOLIDATED STATEMENTS OF INCOME		2010			2009			2010			2009
AND FUNDS FROM OPERATIONS		(Unaudited)						(Unaudited)
Rentals, net		$	136,711		$	136,454		$	540,754		$	554,014
Other Income			3,020			5,712			13,913			17,974
	Total Revenues		139,731			142,166			554,667			571,988
Depreciation and Amortization			39,661			36,392			151,101			147,877
Operating Expense			28,591			27,626			105,745			102,936
Real Estate Taxes, net			15,945			16,196			64,921			70,668
Impairment Loss			12,315			2,209			33,317			34,983
General and Administrative Expense			5,897			6,732			25,000			25,930
	Total Expenses		102,409			89,155			380,084			382,394
Operating Income			37,322			53,011			174,583			189,594
Interest Expense, net			(37,032	)		(37,960	)		(148,794	)		(153,207	)
Interest and Other Income, net			2,920			2,923			9,825			11,427
Equity in Earnings of Real Estate Joint Ventures and Partnerships, net			3,568			2,765			12,889			5,548
(Loss) Gain on Redemption of Convertible Senior Unsecured Notes									(135	)		25,311
Gain on Land and Merchant Development Sales						69						18,688
(Provision) Benefit for Income Taxes			(85	)		702			(240	)		(6,337	)
	Income from Continuing Operations		6,693			21,510			48,128			91,024
Operating (Loss) Income from Discontinued Operations						(7	)		12			3,221
Gain on Sale of Property from Discontinued Operations						48,380			618			55,765
	Income from Discontinued Operations					48,373			630			58,986
Gain on Sale of Property			1,512			12,892			2,480			25,266
Net Income			8,205			82,775			51,238			175,276
Less:	Net Income Attributable to Noncontrolling Interests		(1,939	)		(1,280	)		(5,032	)		(4,174	)
Net Income Adjusted for Noncontrolling Interests			6,266			81,495			46,206			171,102
Less:	Preferred Share Dividends		(8,869	)		(8,869	)		(35,476	)		(35,476	)
Net (Loss) Income Attributable to Common Shareholders--Basic		$	(2,603	)	$	72,626		$	10,730		$	135,626
Earnings Per Common Share--Basic		$	(0.02	)	$	0.61		$	0.09		$	1.24
Net (Loss) Income Attributable to Common Shareholders--Diluted		$	(2,603	)	$	73,087		$	10,730		$	135,626
Earnings Per Common Share--Diluted		$	(0.02	)	$	0.60		$	0.09		$	1.23
Funds from Operations:
Net (Loss) Income Attributable to Common Shareholders		$	(2,603	)	$	72,626		$	10,730		$	135,626
Depreciation and Amortization			37,944			34,765			143,393			144,211
Depreciation and Amortization of Unconsolidated Joint Ventures			5,290			5,018			20,085			18,433
Gain on Sale of Property			(1,494	)		(61,270	)		(3,069	)		(81,006	)
Loss (Gain) on Sale of Property of Unconsolidated Joint Ventures									1			(4	)
Funds from Operations--Basic		$	39,137		$	51,139		$	171,140		$	217,260
Funds from Operations Per Common Share--Basic		$	0.33		$	0.43		$	1.43		$	1.98
Funds from Operations--Diluted		$	39,137		$	51,600		$	171,140		$	217,260
Funds from Operations Per Common Share--Diluted		$	0.33		$	0.42		$	1.42		$	1.97
Weighted Average Shares Outstanding--Basic			120,044			119,515			119,935			109,546
Weighted Average Shares Outstanding--Diluted			120,044			122,162			120,780			110,178
		December 31,			December 31,
		2010			2009
CONDENSED CONSOLIDATED BALANCE SHEETS		(Unaudited)			(Audited)
Property		$	4,777,794		$	4,658,396
Accumulated Depreciation			(971,249	)		(856,281	)
Investment in Real Estate Joint Ventures and Partnerships, net			347,526			315,248
Notes Receivable from Real Estate Joint Ventures and Partnerships			184,788			317,838
Unamortized Debt and Lease Costs, net			116,437			103,396
Accrued Rent and Accounts Receivable, net			95,859			96,372
Cash and Cash Equivalents			23,859			153,584
Restricted Deposits and Mortgage Escrows			10,208			12,778
Other, net			222,633			89,054
	Total Assets	$	4,807,855		$	4,890,385
Debt, net		$	2,589,448		$	2,531,847
Accounts Payable and Accrued Expenses			126,767			137,727
Other, net			111,383			114,155
	Total Liabilities		2,827,598			2,783,729
Commitments and Contingencies
Preferred Shares of Beneficial Interest			8			8
Common Shares of Beneficial Interest			3,630			3,615
Accumulated Additional Paid-In Capital			1,969,905			1,958,975
Net Income Less Than Accumulated Dividends			(151,780	)		(37,350	)
Accumulated Other Comprehensive Loss			(21,774	)		(23,958	)
	Shareholders' Equity		1,799,989			1,901,290
Noncontrolling Interests			180,268			205,366
	Total Liabilities, Shareholders' Equity and Noncontrolling Interests	$	4,807,855		$	4,890,385

EX-99.2

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
		Recurring 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
	2011 Business Plan Assumptions		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 December 31, 2010, we owned or operated under long-term leases, interests in 383 developed income-producing properties and 9 new development properties (including 6 which are income-producing), which are located in 23 states that span the United States from coast to coast.  Included in the portfolio are 312 shopping centers, 77 industrial projects, and 3 other operating properties.  Our interests in these properties aggregated approximately 44.6 million square feet of leasable area.  Our properties were 91.9% leased as of December 31, 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
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-looki ng 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.
Non-GAAP Disclosures
The National Association of Real Estate Investment Trusts defines funds from operations ("FFO") 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 1

Financial Summary

Weingarten Realty Investors
Condensed Consolidated Statements of Income
(in thousands, except per share amounts)
		Three Months Ended
		December 31,						Twelve Months Ended December 31,
		2010			2009			2010			2009			2008			2007			2006
Revenues:
Rentals, net		$	136,711		$	136,454		$	540,754		$	554,014		$	578,859		$	547,949		$	494,609
Other			3,020			5,712			13,913			17,974			13,788			13,150			6,656
	Total		139,731			142,166			554,667			571,988			592,647			561,099			501,265
Expenses:
Depreciation and amortization			39,661			36,392			151,101			147,877			149,795			122,228			111,617
Operating			28,591			27,626			105,745			102,936			113,472			99,586			81,765
Real estate taxes, net			15,945			16,196			64,921			70,668			70,608			64,347			58,354
Impairment loss			12,315			2,209			33,317			34,983			52,539
General and administrative			5,897			6,732			25,000			25,930			25,761			26,979			23,801
	Total		102,409			89,155			380,084			382,394			412,175			313,140			275,537
Operating Income			37,322			53,011			174,583			189,594			180,472			247,959			225,728
Interest Expense, net			(37,032	)		(37,960	)		(148,794	)		(153,207	)		(156,318	)		(156,248	)		(148,052	)
Interest and Other Income, net			2,920			2,923			9,825			11,427			4,333			8,483			9,043
Equity in Earnings of Real Estate Joint Ventures and Partnerships, net (a)			3,568			2,765			12,889			5,548			12,196			19,853			14,655
(Loss) Gain on Redemption of Convertible Senior Unsecured Notes									(135	)		25,311			12,961
Gain on Land and Merchant Development Sales						69						18,688			8,342			16,385			7,166
(Provision) Benefit for Income Taxes			(85	)		702			(240	)		(6,337	)		10,220			(4,073	)		(1,366	)
	Income from Continuing Operations		6,693			21,510			48,128			91,024			72,206			132,359			107,174
Operating (Loss) Income from Discontinued Operations						(7	)		12			3,221			11,669			20,234			33,079
Gain on Sale of Property from Discontinued Operations						48,380			618			55,765			68,722			83,659			145,494
	Income from Discontinued Operations					48,373			630			58,986			80,391			103,893			178,573
Gain on Sale of Property			1,512			12,892			2,480			25,266			1,998			4,086			22,493
Net Income			8,205			82,775			51,238			175,276			154,595			240,338			308,240
Less:	Net Income Attributable to Noncontrolling Interests		(1,939	)		(1,280	)		(5,032	)		(4,174	)		(8,943	)		(10,237	)		(6,414	)
Net Income Adjusted for Noncontrolling Interests			6,266			81,495			46,206			171,102			145,652			230,101			301,826
Preferred Share Dividends			(8,869	)		(8,869	)		(35,476	)		(35,476	)		(34,711	)		(25,375	)		(10,101	)
Redemption Costs of Preferred Shares															(1,850	)
Net (Loss) Income Attributable to Common Shareholders		$	(2,603	)	$	72,626		$	10,730		$	135,626		$	109,091		$	204,726		$	291,725
Earnings Per Common Share - Basic		$	(0.02	)	$	0.61		$	0.09		$	1.24		$	1.29		$	2.39		$	3.33
Earnings Per Common Share - Diluted		$	(0.02	)	$	0.60		$	0.09		$	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)
	December 31,			December 31,
	2010			2009
ASSETS
Property	$	4,777,794		$	4,658,396
Accumulated Depreciation		(971,249	)		(856,281	)
Property, net		3,806,545			3,802,115
Investment in Real Estate Joint Ventures and Partnerships, net (a)		347,526			315,248
Total		4,154,071			4,117,363
Notes Receivable from Real Estate Joint Ventures and Partnerships		184,788			317,838
Unamortized Debt and Lease Costs, net		116,437			103,396
Accrued Rent and Accounts Receivable (net of allowance for doubtful accounts of $10,137 in 2010 and $10,380 in 2009)		95,859			96,372
Cash and Cash Equivalents		23,859			153,584
Restricted Deposits and Mortgage Escrows		10,208			12,778
Other, net		222,633			89,054
Total	$	4,807,855		$	4,890,385
LIABILITIES AND EQUITY
Debt, net	$	2,589,448		$	2,531,847
Accounts Payable and Accrued Expenses		126,767			137,727
Other, net		111,383			114,155
Total		2,827,598			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: 120,492 in 2010 and 120,098 in 2009		3,630			3,615
Accumulated Additional Paid-In Capital		1,969,905			1,958,975
Net Income Less Than Accumulated Dividends		(151,780	)		(37,350	)
Accumulated Other Comprehensive Loss		(21,774	)		(23,958	)
Shareholders' Equity		1,799,989			1,901,290
Noncontrolling Interests		180,268			205,366
Total Equity		1,980,257			2,106,656
Total	$	4,807,855		$	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						Twelve Months Ended
	December 31,						December 31,
	2010			2009			2010			2009
Funds from Operations
Numerator:
Net (loss) income attributable to common shareholders	$	(2,603	)	$	72,626		$	10,730		$	135,626
Depreciation and amortization		37,944			34,765			143,393			144,211
Depreciation and amortization of unconsolidated real estate joint ventures and partnerships		5,290			5,018			20,085			18,433
(Gain) on sale of property		(1,494	)		(61,270	)		(3,069	)		(81,006	)
Loss (gain) on sale of property of unconsolidated real estate joint ventures and partnerships								1			(4	)
Funds from Operations - Basic		39,137			51,139			171,140			217,260
Funds from operations attributable to operating partnership units					461
Funds from Operations - Diluted		39,137			51,600			171,140			217,260
Adjustments for Recurring FFO:
Loss (gain) on redemption of convertible senior unsecured notes								135			(25,311	)
Impairment loss, net of tax		12,315			2,947			33,432			49,082
Write-off of miscellaneous receivables											660
Acquisitions costs		241						399
(Gain) on land and merchant development sales		(104	)		(69	)		(195	)		(18,688	)
Recurring Funds from Operations - Diluted	$	51,589		$	54,478		$	204,911		$	223,003
Denominator:
Weighted average shares outstanding - Basic		120,044			119,515			119,935			109,546
Effect of dilutive securities:
Share options and awards					857			845			632
Operating partnership units					1,790
Weighted average shares outstanding - Diluted		120,044			122,162			120,780			110,178
Funds from Operations per Share - Basic	$	0.33		$	0.43		$	1.43		$	1.98
Funds from Operations Per Share - Diluted	$	0.33		$	0.42		$	1.42		$	1.97
Adjustments for Recurring FFO per share:
Loss (gain) on redemption of convertible senior unsecured notes								-			(0.23	)
Impairment loss, net of tax		0.10			0.03			0.28			0.45
Write-off of miscellaneous receivables											-
Acquisitions costs		-						-
(Gain) on land and merchant development sales		-			-			-			(0.17	)
Recurring Funds from Operations Per Share - Diluted	$	0.43		$	0.45		$	1.70		$	2.02
Dividends
Common Dividends per Share	$	0.260		$	0.250		$	1.040		$	1.275
Common Dividends Paid as a % of Funds from Operations		80.0	%		58.6	%		73.1	%		62.5	%
General and Administrative Expenses
General and Administrative Expenses/Total Revenue		4.2	%		4.7	%		4.5	%		4.5	%
General and Administrative Expenses/Total Assets before Depreciation		0.10	%		0.12	%		0.43	%		0.45	%

Page 5

Weingarten Realty Investors
Supplemental Income Statement Detail
(in thousands)
	Three Months Ended						Twelve Months Ended
	December 31,						December 31,
	2010			2009			2010			2009
Rentals, net
Base minimum rent, net	$	105,348		$	106,710		$	416,645		$	427,608
Straight line rent		970			1,383			6,974			7,358
Over/Under-market rentals, net		448			533			1,654			2,564
Percentage rent		1,724			1,854			5,076			5,587
Tenant reimbursements		28,221			25,974			110,405			110,897
Total	$	136,711		$	136,454		$	540,754		$	554,014
Fee Income from Real Estate Joint Ventures and Partnerships
Recurring	$	1,740		$	1,529		$	6,924		$	6,193
Non-Recurring								30			63
Total	$	1,740		$	1,529		$	6,954		$	6,256
Interest Expense, net
Interest paid or accrued	$	37,735		$	39,651		$	153,081		$	161,015
Over-market mortgage adjustment of acquired properties, net		(563	)		(972	)		(3,073	)		(4,061	)
Amortization of convertible bond discount		536			543			2,191			4,969
Gross interest expense		37,708			39,222			152,199			161,923
Capitalized interest		(676	)		(1,262	)		(3,405	)		(8,716	)
Total	$	37,032		$	37,960		$	148,794		$	153,207
Interest and Other Income, net
Interest income from joint ventures (primarily construction loans)	$	945		$	1,520		$	4,258		$	4,758
Deferred compensation interest income		951			576			1,610			3,160
Other		1,024			827			3,957			3,509
Total	$	2,920		$	2,923		$	9,825		$	11,427
Supplemental Analyst Information
Net Operating Income including Joint Ventures
Revenues	$	139,731		$	142,166		$	554,667		$	571,988
Operating expense		(28,591	)		(27,626	)		(105,745	)		(102,936	)
Real estate taxes		(15,945	)		(16,196	)		(64,921	)		(70,668	)
Total		95,195			98,344			384,001			398,384
Net Operating Income from Discontinued Operations					1,037			19			11,619
Minority Interests Share of Net Operating Income and Other Adjustments		(6,617	)		(6,036	)		(25,524	)		(23,680	)
Pro rata Income From Consolidated Ventures		88,578			93,345			358,496			386,323
Pro rata share of Unconsolidated Joint Ventures
Revenues		16,342			14,436			60,196			55,205
Operating expense		(2,970	)		(2,941	)		(10,469	)		(10,601	)
Real estate taxes		(1,983	)		(1,556	)		(7,460	)		(6,566	)
Total		11,389			9,939			42,267			38,038
Net Operating Income including Joint Ventures	$	99,967		$	103,284		$	400,763		$	424,361
Equity in Earnings of Real Estate Joint Ventures and Partnerships, net
Net income (loss) from unconsolidated real estate joint ventures and partnerships	$	2,323		$	1,248		$	8,109		$	(495	)
Intercompany fee income reclass		1,386			1,612			5,745			6,196
Other adjustments		(141	)		(95	)		(965	)		(153	)
Equity in earnings of real estate joint ventures and partnerships, net	$	3,568		$	2,765		$	12,889		$	5,548

Page 6

Weingarten Realty Investors
Supplemental Balance Sheet Detail
(in thousands)
	December 31,
	2010			2009
Property
Land	$	925,497		$	896,010
Land held for development		170,213			182,586
Land under development		22,967			32,709
Buildings and improvements		3,610,889			3,437,578
Construction in-progress		48,228			109,513
Total	$	4,777,794		$	4,658,396
Straight Line Rent Receivable	$	57,941		$	51,465
Other Assets, net
Notes receivable and mortgage bonds, net	$	76,716		$	45,922
Debt service guaranty asset		97,000
Non-qualified benefit plan assets		15,059			13,897
Out-of-market rentals, net		6,318			5,807
Deferred income tax asset		11,869			11,434
Interest rate derivative		7,192			2,601
Other		8,479			9,393
Total	$	222,633		$	89,054
Other Liabilities, net
Deferred revenue	$	21,136		$	18,806
Non-qualified plan benefit liabilities		41,388			37,205
Deferred income tax payable		6,149			6,993
Out-of-market rentals, net		14,083			15,157
Interest rate derivative		108			4,634
Other		28,519			31,360
Total	$	111,383		$	114,155
Identified Intangible Assets and Liabilities
Identified Intangible Assets:
Above-market leases (included in Other Assets, net)	$	16,825		$	17,278
Above-market leases - Accumulated Amortization		(10,507	)		(11,471	)
Below-market assumed Mortgages (included in Debt, net)		5,722			2,072
Below-market assumed Mortgages - Accumulated Amortization		(1,157	)		(805	)
Valuation of in place leases (included in Unamortized Debt and Lease Costs, net)		71,272			57,610
Valuation of in place leases - Accumulated Amortization		(35,984	)		(32,361	)
Total	$	46,171		$	32,323
Identified Intangible Liabilities:
Below-market leases (included in Other Liabilities, net)	$	37,668		$	36,951
Below-market leases - Accumulated Amortization		(23,585	)		(21,794	)
Above-market assumed mortgages (included in Debt, net)		48,149			52,171
Above-market assumed mortgages - Accumulated Amortization		(31,288	)		(31,329	)
Total	$	30,944		$	35,999

Page 7

Weingarten Realty Investors
Capitalization and Coverage Ratios
(in thousands, except common share data and percentages)
	December 31,
	2010			2009
Common Share Data
Closing Market Price	$	23.76		$	19.79
Dividend Yield		4.38	%		5.05	%
90-Day, Average Daily Trading Volume		1,109,792			1,407,967
Capitalization (As reported)
Debt	$	2,589,448		$	2,531,847
Preferred Shares		497,500			497,500
Common Shares at Market		2,862,890			2,376,739
Operating Partnership Units at Market		39,085			33,445
Total Market Capitalization	$	5,988,923		$	5,439,531
Debt to Total Market Capitalization		43.2	%		46.5	%
Capitalization (Pro rata)
Debt	$	2,521,278		$	2,486,535
Preferred Shares		497,500			497,500
Common Shares at Market		2,862,890			2,376,739
Operating Partnership Units at Market		39,085			33,445
Total Market Capitalization	$	5,920,753		$	5,394,219
Debt to Total Market Capitalization		42.6	%		46.1	%
Capital Availability
Revolving Credit Facility	$	500,000		$	575,000
Less:
Balance Outstanding Under Revolving Credit Facility
Outstanding Letters of Credit Under Revolving Facility		52,401			7,185
Unused Portion of Credit Facility	$	447,599		$	567,815
Coverage Ratios (at Pro rata Share trailing 4 quarters)
Fixed Charge Coverage		2.07	x		2.19	x
Interest Coverage		2.47	x		2.61	x
Debt Service Coverage		2.33	x		2.47	x
Net Debt to Adjusted EBITDA		6.67	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 December 31, 2010
(in thousands at pro rata share, except percentages)
							Total Square						Pro Rata			Pro Rata		Total Estimated						YTD
							Feet of		Percent Leased				Spent			Spent		Investment (2)				Est.		2010
					WRI		Building Area (1)		Net @				Year-To-			Inception		WRI		Gross		Final		Pro Rata
		Center Name	Location	Anchors	Own %		Gross	Net	100%		Gross		Date			to Date		Costs		Costs		ROI %		NOI $
STABILIZED
	1	Clermont Landing Phase 1*	Clermont, Florida	JC Penney #, Epic Theater #, TJ Maxx, Ross	55.0	%	303	80	84.9	%	92.8	%	$	(249	)	$	14,008	$	14,086	$	25,611
	2	ClayPoint Distribution Park (Industrial)	Houston, Texas	Pioneer, Packaging Corp. of America	100.0	%	359	158	64.1	%	84.2	%		196			7,737		7,737		7,737
	3	Ridgeway Trace Center Phase 1	Memphis, Tennessee	Target #, Sports Authority, Best Buy	100.0	%	228	90	100.0	%	100.0	%		7,451			25,396		27,148		27,148
		Total 2010 Stabilized Properties					890	328	80.0	%	91.2	%	$	7,399		$	47,141	$	48,971	$	60,495	6.7	%	$	2,395
UNDER DEVELOPMENT
	1	Gardens on Havana*	Aurora (Denver), Colorado	Kohl's, Target, Dick's Sporting Goods, Sprouts	39.8	%	427	170	89.5	%	89.5	%		563			22,992		16,042		40,317
	2	Waterford	Leland (Wilmington), North Carolina	Harris Teeter	100.0	%	95	90	88.2	%	88.8	%		384			13,493		14,274		14,274
		Total 2011 Stabilizations					522	260	89.3	%	89.4	%	$	947		$	36,485	$	30,316	$	54,591	7.0	%	$	1,781
	1	Ridgeway Trace Center Phase 2	Memphis, Tennessee	Target #, Sports Authority, Best Buy	100.0	%	82	82	29.1	%	29.1	%		3,256			15,494		22,352		22,352
	2	Surf City Crossing	Surf City (Wilmington), North Carolina	Harris Teeter	100.0	%	75	63	85.2	%	77.4	%		3,229			6,522		7,721		7,721
	3	Tomball Marketplace	Tomball, Texas	Academy#	100.0	%	147	62	24.9	%	68.4	%		129			13,488		15,023		15,023
	4	Westwood Center	San Antonio, Texas	Wal-Mart #	100.0	%	305	70	35.2	%	80.4	%		478			16,283		15,243		15,243
	5	Clermont Landing Phase 2*	Clermont, Florida	JC Penney #, Epic Theater #, TJ Maxx, Ross	55.0	%	63	19	33.2	%	62.8	%		-40			4,335		3,335		6,063
	6	North Towne Plaza	Brownsville, Texas	Lowes#	100.0	%	153	36	22.2	%	81.7	%		210			4,629		6,134		6,134
	7	Riverpoint at Sheridan	Sheridan (Denver), Colorado	Costco #, Target #, Regal Cinema	50.0	%	502	86	58.9	%	85.9	%		1,102			58,338		31,189		62,378
		Total 2012 and Thereafter Stabilizations					1,327	418	45.9	%	77.1	%	$	8,365		$	119,090	$	100,997	$	134,914	6.4	%	$	80
		Total 9 Properties Under Development (exclusive of phasing)					1,849	678	67.5	%	80.6	%	$	9,312		$	155,574	$	131,313	$	189,505	6.5	%	$	1,860
									Total EF Investment (from above)									$	131,313	$	189,505
									Additional Capital to Complete										19,138		21,361
* Unconsolidated Joint Venture									Total Gross Investment to Complete									$	150,450	$	210,866
# 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 $19 million at pro rata share ($21 million at 100%)
Note:   Phased properties are counted as one property

Page 10

Weingarten Realty Investors
Land Held for Development
As of December 31, 2010
(in thousands, except acres and percentages)
	Ownership			Gross		Investment (1)
Location	Interest			Acres			100	%	Pro Rata
New Development Phased Projects
US Hwy 1 and Caveness Farms Road, Wake Forest - Raleigh		100.0	%		70.6
Highway 17 and Highway 210, Surf City		100.0	%		46.5
FM 2920 and Future 249, Tomball - Houston		100.0	%		33.7
Decatur at 215 - Las Vegas		100.0	%		25.3
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
Bear Valley Road at Jess Ranch Parkway, Apple Valley III		50.0	%		10.9
Culebra Road and Westwood Loop, San Antonio		100.0	%		9.3
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
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
Southern Ave & Signal Butte Rd, Mesa, AZ		100.0	%		2.1
SEC Poplar Ave at I-240, Memphis, TN		100.0	%		1.2
Total New Development Phased Projects					306.0	$	95,487		$	77,462
Other Raw Land
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
Shary Road and US Hwy 83, Mission		50.0	%		36.9
SH 281 & Wilderness Oaks, San Antonio, TX		100.0	%		29.2
US Hwy 15-501 & Bruce Wood Rd., Southern Pines, NC		100.0	%		24.0
Creedmoor (Highway 50) and Crabtree Valley Avenue, Raleigh		100.0	%		11.7
Lon Adams Rd at Tangerine Farms Rd  - Tuscan		50.0	%		9.7
Rock Prairie Rd. at Hwy. 6, College Station		100.0	%		9.0
SH 151 & Ingram Rd, San Antonio, TX		66.7	%		8.5
Young Pines and Curry Ford Rd, Orange County, Florida - Orlando		100.0	%		3.0
Leslie Rd. at Bandera Rd., Helotes		100.0	%		1.7
Other (2)		100.0	%		39.5
Total Raw Land					453.6	$	101,296		$	72,789
Total Land Held For Development Properties					759.6	$	196,783		$	150,252

(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 $154.4 million of total investment at 100%, $118.0 million at pro rata share.

Page 11

Weingarten Realty Investors
Disposition and Acquisition Summary
For the Period Ended December 31, 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
4th Quarter
South Loop Business Park *	Houston, TX	93	11/1/10
Clermont Landing - Buffalo Wild Wings *	Clermont, FL	7	11/3/10
Rock Prairie Marketplace	College Station, TX	-	12/9/10
Shawnee Village - McDonald's	Shawnee, KS	4	12/22/10
Total Dispositions				$	18,422	7.50	%
			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
4th Quarter
Stoneridge Shopping Center *	Moreno Valley, CA	178	10/08/10
Desert Village	Scottsdale, AZ	102	10/28/10
Village Plaza at Bunker Hill *	Houston, TX	491	11/18/10
Edgewater Shopping Cener	Denver, CO	146	11/19/10
Palms of Carrollwood	Tampa, FL	168	12/23/10
Total Acquisitions				$	196,036	6.90	%
* Unconsolidated real estate joint venture activity

Page 12

Weingarten Realty Investors
Property Investment Summary
(in thousands at pro rata share)
									Remodels/
			New		Major		Tenant		Existing			Leasing/		All
	Acquisitions		Development		Repairs		Finish		Development (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
Quarter Ended 12/31/2010		164,807		2,839		6,654		9,148		5,423			5,107		885		194,863
Twelve Months Ended 12/31/2010	$	193,131	$	16,710	$	13,786	$	29,556	$	14,608		$	18,534	$	1,337	$	287,662
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)
					4th Quarter						4th Quarter
		December 31,			Weighted			December 31,			Weighted
		2010			Average Rate (1)			2009			Average Rate (1)
Outstanding Balance Summary
Mortgage Debt		$	1,123,490			6.36	%	$	1,197,234			6.55	%
7% 2011 Bonds			117,670			7.00	%		117,670			7.00	%
3.95% Convertible Bonds (2)			129,933			3.95	%		131,603			3.95	%
8.1% 2019 Notes			100,000			8.10	%		100,000			8.10	%
Unsecured Notes Payable			918,439			5.51	%		959,562			5.64	%
Revolving Credit Agreements (3)			80,000			1.75	%					0.84	%
Industrial Revenue Bonds			1,916			1.38	%		2,663			2.33	%
Obligations under Capital Leases			21,000			7.44	%		23,115			5.55	%
	Subtotal Consolidated Debt		2,492,448			5.72	%		2,531,847			5.93	%
Debt Service Guarantee Liability (4)			97,000
	Total Consolidated Debt - As Reported		2,589,448			5.72	%		2,531,847			5.93	%
Less: Noncontrolling Interest			(260,971	)					(209,458	)
Plus: WRI Share of Unconsolidated Joint Ventures			192,801						164,146
	Total Debt - Pro rata Share	$	2,521,278			5.75	%	$	2,486,535			5.96	%
											Weighted
					4th 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 December 31, 2010
Fixed-rate debt		$	2,267,614			6.05	%		89.9	%		5.69
Variable-rate debt			253,664			3.64	%		10.1	%		3.62
	Total	$	2,521,278			5.75	%		100.0	%		5.48
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 December 31, 2010
Secured Debt		$	1,119,630			6.43	%		44.4	%		5.39
Unsecured Debt			1,401,648			5.19	%		55.6	%		5.55
	Total	$	2,521,278			5.75	%		100.0	%		5.48
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 12/31/10			5.72	%		5.75	%
Twelve months ended 12/31/10			5.73	%		5.75	%
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 fourth quarter 2010 and fourth quarter 2009, respectively. The weighted average revolving interest rate with the facility fee is 8.49% and 3.05% for the fourth 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 December 31, 2010
(in thousands, except percentages)
	As Reported						Pro rata Share
			Weighted						Weighted
			Average						Average				Floating		Fixed
	Maturities		Rate (4)				Maturities		Rate (4)				Rate		Rate			Secured		Unsecured
2011  (1) (2)	$	212,264		6.75	%		$	224,399		6.72	%		$	2,002	$	222,397		$	96,764	$	127,635
2012		307,598		5.73	%			313,434		5.73	%			4,887		308,547			130,174		183,260
2013		440,829		6.01	%			335,524		5.83	%			25,980		309,544			161,933		173,591
2014		387,547		5.47	%			405,704		5.49	%					405,704			90,704		315,000
2015		248,404		6.30	%			216,166		6.08	%					216,166			126,166		90,000
2016		209,209		6.42	%			229,980		6.24	%					229,980			154,980		75,000
2017		142,088		6.85	%			160,676		6.44	%					160,676			135,676		25,000
2018		64,411		7.18	%			25,244		6.40	%					25,244			15,674		9,570
2019		153,747		7.94	%			157,102		7.35	%					157,102			57,102		100,000
2020		3,772		7.60	%			64,036		7.70	%					64,036			64,036		0
Thereafter  (2)		198,177		4.86	%			200,797		4.94	%					200,797			37,810		162,987
Subtotal		2,368,046						2,333,062						32,869		2,300,193			1,071,019		1,262,043
Revolving Credit Agreements		80,000		1.75	%	(5)		80,000		1.75	%	(5)		80,000							80,000
Other  (3)		141,402						108,216						20,350		87,866			48,611		59,605
Swap Maturities:
2014														50,000		(50,000	)
2017														70,445		(70,445	)
Total	$	2,589,448		5.73	%		$	2,521,278		5.75	%		$	253,664	$	2,267,614		$	1,119,630	$	1,401,648

(1)	Includes $1.9 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				Twelve Months Ended
	December 31,				December 31,
Condensed Statements of Income	2010		2009		2010			2009
Revenues:
Base minimum rent, net	$	37,596	$	33,814	$	142,807		$	125,364
Straight line rent		1,156		1,055		3,311			4,247
Over/Under-market rentals, net		501		846		4,121			5,555
Percentage rent		358		561		903			1,270
Tenant reimbursements		10,235		8,712		37,901			32,447
Other income		1,194		1,346		4,606			5,712
Total		51,040		46,334		193,649			174,595
Expenses:
Depreciation and amortization		15,996		15,316		61,726			56,018
Interest, net		9,516		8,547		36,270			31,017
Operating		9,585		9,773		34,026			33,385
Real estate taxes, net		6,280		5,298		24,288			21,213
General and administrative		1,056		1,171		3,927			5,187
Provision for income taxes		39		42		237			170
Impairment loss						231			6,923
Total		42,472		40,147		160,705			153,913
Gain on land and merchant development sales		188				372
(Loss) gain on sale of property						(3	)		11
Net income	$	8,756	$	6,187	$	33,313		$	20,693
Condensed Balance Sheets
					December 31,
						2010			2009
ASSETS
Property					$	2,142,524		$	2,082,316
Accumulated depreciation						(247,996	)		(191,478	)
Property, net						1,894,528			1,890,838
Other assets, net						168,091			240,387
Total					$	2,062,619		$	2,131,225
LIABILITIES AND SHAREHOLDERS' EQUITY
Debt, net					$	552,552		$	505,462
Amounts payable to Weingarten Realty Investors						202,092			335,622
Other liabilities, net						45,331			88,913
Total						799,975			929,997
Accumulated equity						1,262,644			1,201,228
Total					$	2,062,619		$	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				Twelve Months Ended
	December 31,				December 31,
Condensed Statements of Income	2010		2009		2010			2009
Revenues:
Base minimum rent, net	$	11,989	$	10,304	$	43,934		$	39,022
Straight line rent		400		388		1,357			1,532
Over/Under-market rentals, net		36		183		769			1,140
Percentage rent		116		243		314			559
Tenant reimbursements		3,278		2,700		11,771			10,320
Other income		523		618		2,051			2,632
Total		16,342		14,436		60,196			55,205
Expenses:
Depreciation and amortization		5,290		5,018		20,085			18,433
Interest, net		3,430		3,092		12,338			10,904
Operating		2,970		2,941		10,469			10,601
Real estate taxes, net		1,983		1,556		7,460			6,566
General and administrative		436		567		1,719			2,377
Provision for income taxes		14		14		94			76
Impairment loss						116			6,747
Total		14,123		13,188		52,281			55,704
Gain on land and merchant development sales		104				195
(Loss) gain on sale of property						(1	)		4
Net income (loss)	$	2,323	$	1,248	$	8,109		$	(495	)
Condensed Balance Sheets
					December 31,
						2010			2009
ASSETS
Property					$	649,890		$	625,714
Accumulated depreciation						(84,609	)		(67,170	)
Property, net						565,281			558,544
Notes receivable from real estate joint ventures and partnerships						5,561			5,712
Unamortized debt and lease costs, net						24,179			13,297
Accrued rent and accounts receivable (net of allowance for doubtful accounts of $566 in 2010 and $709 in 2009)						17,145			15,441
Cash and cash equivalents						9,314			15,230
Restricted deposits and mortgage escrows						3,861			1,757
Notes receivable and mortgage bonds, net						400			41,356
Out-of-market rentals, net						2,827			588
Interest rate derivative									124
Other assets, net						2,277			5,125
Total					$	630,845		$	657,174
LIABILITIES AND SHAREHOLDERS' EQUITY
Debt, net					$	193,989		$	164,146
Amounts payable to Weingarten Realty Investors						91,581			159,141
Accounts payable and accrued expenses						5,720			6,419
Deferred revenue						1,457			1,331
Out-of-market rentals, net						4,750			4,395
Interest rate derivative						502
Other liabilities, net						1,374			23,257
Total						299,373			358,689
Accumulated equity						331,472			298,485
Total					$	630,845		$	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
December 31, 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	$	322,005				20.0	%			$	63,152		$	2,225
AEW SRP, LLC		10		895		162,750	$	104,270		25.0	%	$	26,068		12,154			(49	)
Collins		9		1,165		156,175		28,895		50.0	%		14,447		56,173			2,050
AEW - Institutional Client		6		523		133,196		67,263		20.0	%		13,453		12,630			446
BIT Retail		3		715		154,535		-		20.0	%		-		29,943			1,114
BIT Investment Thirty-Six, LP		12		4,061		216,892		18,148		20.0	%		3,630		33,213			523
Eagle AN, LP		7		2,049		52,978		33,309		20.0	%		6,662		(0	)		180
Jamestown		6		1,342		151,407		93,645		20.0	%		18,729		11,581			1,092
Fidelis Realty Partners		1		491		144,263		90,000		57.8	%		51,975		30,490			32
Other		26		4,041		568,416		117,021		50.4	%		59,026		98,191			5,275
Total		87		16,542	$	2,062,619	$	552,552		28.7	%	$	193,989	$	347,526		$	12,889

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
Fidelis Realty Partners	Retail joint venture in Texas
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 December 31, 2010
Balance Summary
Joint Venture Partner		# of Mortgaged Properties	Balance (in thousands) (1)				Average Interest Rate (2)		Average Remaining Term (yrs)
AEW SRP, LLC		7	$	104,270			5.7	%	5.0
Collins		2		28,895			6.2	%	10.6
AEW - Institutional Client		6		67,263			5.7	%	3.2
BIT Investment Thirty-Six, LP		2		18,148			6.6	%	2.0
Eagle AN, LP		1		33,309			5.4	%	9.6
Jamestown		6		93,645			5.7	%	4.2
Fidelis Realty Partners		1		90,000			4.3	%	9.8
Other		7		114,968			5.8	%	4.2
Total		32	$	550,498			5.5	%	4.8
Schedule of Maturities
		At 100%					At WRI Share
		Maturities (in thousands) (1)	Weighted Average Rate (2)				Maturities (in thousands)  (1)		Weighted Average Rate (2)
2011	$	43,339		5.5	%	$	14,039		5.3	%
2012		33,618		5.4	%		9,161		5.3	%
2013		55,335		5.4	%		19,054		5.3	%
2014		105,021		5.3	%		23,603		5.2	%
2015		40,467		5.3	%		9,973		5.2	%
2016		79,731		5.2	%		21,772		5.1	%
2017		50,041		5.1	%		22,415		5.0	%
2018		6,308		5.1	%		3,185		5.0	%
2019		6,646		5.1	%		3,355		5.0	%
2020		118,033		6.3	%		60,265		6.3	%
Thereafter		11,959		6.4	%		5,979		6.4	%
Total	$	550,498				$	192,801

(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 ($3.3 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	Rental		Square
Rank	Tenant Name	DBAs	Units	Revenue		Feet
1	The Kroger Co.	Kroger, Smith Food, Ralphs, Fry's Food, King Soopers	27	2.33	%	1,288
2	T.J.X. Companies, Inc.	T.J. Maxx, Marshalls, Home Goods	36	1.93	%	815
3	Ross Stores, Inc.	Ross Dress for Less	36	1.83	%	749
4	Safeway, Inc.	Safeway, Randalls, Von's	17	1.22	%	718
5	Petsmart, Inc.		20	1.12	%	357
6	Home Depot, Inc.		6	1.12	%	669
7	Office Depot, Inc.		24	1.03	%	453
8	H E Butt Grocery		7	0.97	%	367
9	Barnes & Noble Inc.	Barnes & Noble, Bookstop Booksellers	11	0.89	%	254
10	Gap, Inc.	Gap, Old Navy, Banana Republic	19	0.88	%	281
11	Best Buy, Inc.		12	0.87	%	285
12	Dollar Tree Stores, Inc.	Dollar Tree, Greenbacks	40	0.84	%	346
13	The Sports Authority		9	0.84	%	326
14	Publix Super Markets, Inc.		22	0.80	%	486
15	24 Hour Fitness Inc.		7	0.80	%	179
16	Harris Teeter		8	0.79	%	348
17	Petco Animal Supplies, Inc.		22	0.78	%	241
18	Bed Bath & Beyond, Inc.		18	0.74	%	362
19	Toys 'R' Us	Toys R Us	9	0.73	%	321
20	Raley's	Raley's Bel Air Markets	6	0.70	%	331
21	Whole Foods		6	0.70	%	218
22	Staples		13	0.67	%	266
23	Office Max Inc.		12	0.66	%	262
24	Blockbuster Video		29	0.60	%	136
25	Delhaize Group	Food Lion, Sweet Bay	9	0.59	%	355
	Total		425	24.44	%	10,414

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 December 31, 2010	Shopping Center					Industrial						Total
	Percentage of					Percentage of						Percentage of
Year Expiring	Sq. Ft.		Revenue			Sq. Ft.			Revenue			Sq. Ft.		Revenue
2011	10.00	%	11.16	%		15.09	%		16.87	%		11.28	%	11.80	%
2012	12.85	%	14.26	%		17.30	%		18.52	%		13.98	%	14.75	%
2013	14.14	%	14.84	%		22.24	%		21.65	%		16.18	%	15.61	%
2014	13.01	%	12.42	%		16.73	%		15.52	%		13.95	%	12.78	%
2015	13.24	%	12.80	%		10.64	%		10.08	%		12.60	%	12.52	%
2016-2020	25.21	%	24.84	%		17.63	%		17.15	%		23.34	%	24.03	%
2021-2030	10.92	%	9.02	%		0.35	%		0.21	%		8.29	%	8.05	%
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 December 31, 2010
Retail New Leases	94		382		$	14.87		$	14.38		$	28.78		3.4	%
Retail Renewals	179		676			13.86			13.85			0.05		0.0	%
Industrial	36		439			4.13			4.84			0.51		-14.7	%
Not Comparable Spaces	73		238
Total	382		1,735		$	11.26		$	11.34		$	7.51		-0.7	%
Twelve Months Ended December 31, 2010
Retail New Leases	430		1,313		$	15.04		$	15.67		$	16.54		-4.0	%
Retail Renewals	668		2,906			12.91			13.02			0.35		-0.9	%
Industrial	157		1,988			4.38			4.65			0.81		-5.8	%
Not Comparable Spaces	268		951
Total	1,523		7,158		$	10.63		$	10.90		$	3.92		-2.5	%
Occupancy	Quarter Ended
	December 31,		September 30,			June 30,			March 31,			December 31,
	2010		2010			2010			2010			2009
Signed Basis
Retail
Mid-Atlantic Region	93.9	%	94.4	%		94.9	%		94.2	%		93.1	%
Southeastern Region	92.2	%	91.8	%		91.9	%		92.2	%		91.9	%
Western Region	94.5	%	92.1	%		91.3	%		90.9	%		91.4	%
Mountain Region	94.3	%	94.2	%		93.9	%		93.4	%		93.2	%
Central Region	91.8	%	91.5	%		91.4	%		91.2	%		90.6	%
Total Retail	93.0	%	92.6	%		92.6	%		92.2	%		91.8	%
Industrial	88.8	%	86.9	%		86.0	%		87.5	%		87.8	%
Total	91.9	%	91.1	%		90.8	%		90.9	%		90.8	%
Commenced Basis
Retail
Mid-Atlantic Region	90.4	%	90.0	%		90.0	%		90.2	%		88.9	%
Southeastern Region	89.2	%	89.3	%		88.5	%		88.9	%		89.7	%
Western Region	88.9	%	89.9	%		88.4	%		88.1	%		89.3	%
Mountain Region	92.7	%	92.5	%		91.9	%		90.6	%		89.2	%
Central Region	88.4	%	88.3	%		89.0	%		89.3	%		87.9	%
Total Retail	89.8	%	89.8	%		89.6	%		89.5	%		88.8	%
Industrial	87.4	%	85.4	%		85.6	%		87.3	%		87.3	%
Total	89.2	%	88.6	%		88.5	%		88.9	%		88.4	%
Same Property Net Operating Income Growth (1)
Cash Basis
	Three Months Ended					Twelve Months Ended
	December 31,					December 31,
	2010		2009			2010			2009
Retail
Central Region	-0.3	%	0.2	%		-0.5	%		-2.3	%
Mountain Region	2.7	%	-7.5	%		0.4	%		-6.4	%
Western Region	0.2	%	-4.4	%		0.2	%		-3.8	%
Mid-Atlantic Region	-2.0	%	2.4	%		1.5	%		-0.8	%
Southeast Region	1.3	%	-1.9	%		0.4	%		-7.2	%
Total Retail	0.3	%	-2.0	%		0.2	%		-3.8	%
Industrial	0.7	%	-4.8	%		-1.5	%		-3.5	%
Total	0.4	%	-2.3	%		0.0	%		-3.8	%

(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)
	Twelve Months Ended December 31,
	2010		%			2009		%			2008		%			2007		%			2006		%
Western Region
California	$	50,943		13.1	%	$	50,136		12.7	%	$	51,176		12.1	%	$	50,503		11.3	%	$	50,074		12.1	%
Oregon		1,345		0.3	%		1,342		0.3	%		1,385		0.3	%		929		0.2	%		46		0.0	%
Washington		1,171		0.3	%		1,124		0.3	%		1,193		0.3	%		1,295		0.3	%		251		0.1	%
Total Western Region		53,459		13.7	%		52,602		13.3	%		53,754		12.7	%		52,727		11.8	%		50,371		12.2	%
Mountain Region
Nevada		30,906		8.0	%		31,505		8.0	%		34,360		8.1	%		31,338		7.0	%		27,796		6.7	%
Arizona		24,287		6.2	%		26,845		6.8	%		26,181		6.2	%		23,192		5.2	%		15,004		3.6	%
Colorado		10,099		2.6	%		9,136		2.3	%		10,779		2.4	%		12,162		2.7	%		13,488		3.3	%
New Mexico		5,250		1.4	%		8,714		2.2	%		11,355		2.7	%		10,472		2.3	%		11,394		2.8	%
Utah		3,548		0.9	%		3,557		0.9	%		3,614		0.9	%		3,545		0.8	%		3,231		0.8	%
Total Mountain Region		74,090		19.1	%		79,757		20.2	%		86,289		20.3	%		80,709		18.0	%		70,913		17.2	%
Central Region
Texas		121,035		31.1	%		113,454		28.7	%		124,407		29.2	%		154,800		34.7	%		154,473		37.4	%
Louisiana		7,715		2.0	%		8,363		2.1	%		10,907		2.6	%		12,831		2.9	%		12,754		3.1	%
Arkansas		2,732		0.7	%		3,048		0.8	%		3,006		0.7	%		3,028		0.7	%		3,505		0.8	%
Illinois		2,065		0.5	%		2,960		0.7	%		3,129		0.7	%		2,378		0.5	%		2,985		0.7	%
Kansas		3,019		0.8	%		1,875		0.5	%		1,949		0.5	%		1,980		0.4	%		3,714		0.9	%
Missouri		1,214		0.3	%		1,405		0.4	%		1,182		0.3	%		1,440		0.3	%		2,193		0.5	%
Oklahoma		1,034		0.3	%		975		0.2	%		955		0.2	%		1,009		0.2	%		3,002		0.7	%
Total Central Region		138,814		35.7	%		132,080		33.4	%		145,535		34.2	%		177,466		39.7	%		182,626		44.1	%
Mid Atlantic Region
North Carolina		24,869		6.4	%		25,476		6.5	%		26,978		6.4	%		27,027		6.1	%		23,694		5.7	%
Georgia		21,798		5.6	%		22,643		5.7	%		25,039		5.9	%		23,929		5.4	%		14,861		3.6	%
Kentucky		7,019		1.8	%		6,766		1.7	%		6,629		1.6	%		6,787		1.5	%		5,944		1.5	%
Tennessee		6,261		1.6	%		5,009		1.3	%		7,015		1.6	%		6,964		1.6	%		7,386		1.8	%
Virginia		3,634		0.9	%		3,626		0.9	%		2,551		0.6	%		2,036		0.5	%		-		0.0	%
South Carolina		285		0.1	%		306		0.1	%		277		0.1	%		287		0.1	%		242		0.1	%
Maine		321		0.1	%		355		0.1	%		278		0.1	%		381		0.1	%		433		0.1	%
Total Mid Atlantic Region		64,186		16.5	%		64,181		16.3	%		68,767		16.3	%		67,411		15.3	%		52,561		12.8	%
Southeast Region
Florida		58,135		15.0	%		66,170		16.8	%		70,335		16.5	%		67,400		15.2	%		56,601		13.7	%
Total Southeast Region		58,135		15.0	%		66,170		16.8	%		70,335		16.5	%		67,400		15.2	%		56,601		13.7	%
Total Net Operating Income	$	388,684		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 12/31/2010
(in thousands at pro rata share, except per square foot amounts)
					Occupied	Annualized		Avg. Base		Occupied	Annualized		Avg. Base
	# of				SF	Rents		Rents		SF	Rents		Rents
	Properties	GLA	Total ABR		Greater than 10K SF					Less than 10K SF
Retail
West Region
Los Angeles-Long Beach et al, CA	3	586	$	16.99	395	$	5,610	$	14.19	152	$	3,685	$	24.31
Madera, CA	1	85	$	12.48	52	$	497	$	9.54	31	$	536	$	17.47
Modesto, CA	1	79	$	14.50	47	$	461	$	9.70	30	$	665	$	22.08
Redding, CA	1	121	$	16.95	65	$	564	$	8.73	48	$	1,339	$	28.08
Riverside et al, CA	5	735	$	19.15	374	$	5,058	$	13.53	276	$	7,380	$	26.77
Sacramento--Arden et al, CA	5	625	$	11.54	342	$	1,870	$	5.47	230	$	4,733	$	20.57
San Diego-Carlsbad et al, CA	3	286	$	22.00	162	$	2,301	$	14.20	111	$	3,698	$	33.44
San Francisco-Oakland et al, CA	3	447	$	21.75	180	$	2,453	$	13.66	168	$	5,098	$	30.42
San Jose-Sunnyvale et al, CA	2	145	$	19.85	66	$	423	$	6.43	71	$	2,301	$	32.20
Santa Cruz-Watsonville, CA	1	150	$	10.65	93	$	565	$	6.06	49	$	955	$	19.31
Santa Rosa-Petaluma, CA	1	199	$	12.44	55	$	393	$	7.20	29	$	652	$	22.15
Vallejo-Fairfield, CA	3	364	$	17.35	151	$	1,086	$	7.21	156	$	4,231	$	27.16
California	29	3,822	$	16.98	1,981	$	21,281	$	10.74	1,350	$	35,272	$	26.13
Portland-Vancouver et al, OR-WA	3	120	$	13.66	66	$	575	$	8.75	43	$	909	$	21.15
Oregon	3	120	$	13.66	66	$	575	$	8.75	43	$	909	$	21.15
Seattle-Tacoma-Bellevue, WA	4	82	$	17.26	64	$	978	$	15.35	13	$	353	$	26.36
Washington	4	82	$	17.26	64	$	978	$	15.35	13	$	353	$	26.36
Total West Region	36	4,024	$	16.88	2,111	$	22,834	$	10.82	1,406	$	36,534	$	0.00
Mountain Region
Lake Havasu City-Kingman, AZ	1	182	$	15.03	112	$	1,425	$	12.67	35	$	789	$	22.66
Phoenix-Mesa-Scottsdale, AZ	17	1,395	$	14.11	762	$	6,329	$	8.31	533	$	11,941	$	22.40
Tucson, AZ	5	630	$	14.45	315	$	2,629	$	8.33	211	$	4,978	$	23.58
Arizona	23	2,207	$	14.27	1,190	$	10,382	$	8.73	779	$	17,708	$	22.73
Colorado Springs, CO	2	299	$	8.45	243	$	1,790	$	7.36	39	$	591	$	15.26
Denver-Aurora, CO	10	1,115	$	14.10	482	$	4,377	$	9.08	307	$	6,750	$	22.00
Colorado	12	1,414	$	12.61	725	$	6,167	$	8.50	346	$	7,341	$	21.25
Las Vegas-Paradise, NV	13	2,368	$	14.84	1,535	$	16,197	$	10.55	678	$	16,653	$	24.57
Nevada	13	2,368	$	14.84	1,535	$	16,197	$	10.55	678	$	16,653	$	24.57
Albuquerque, NM	4	475	$	13.63	280	$	2,709	$	9.66	151	$	3,174	$	20.99
New Mexico	4	475	$	13.63	280	$	2,709	$	9.66	151	$	3,174	$	20.99
Provo-Orem, UT	1	30	$	16.17	12	$	165	$	13.96	19	$	327	$	17.57
Salt Lake City, UT	2	276	$	12.35	175	$	1,795	$	10.24	74	$	1,283	$	17.33
Utah	3	307	$	12.76	187	$	1,959	$	10.48	93	$	1,610	$	17.38
Total Mountain Region	55	6,770	$	14.07	3,918	$	37,414	$	9.55	2,046	$	46,486	$	0.00
Central Region
Little Rock-N. Little Rock, AR	3	358	$	9.08	298	$	2,314	$	7.76	56	$	896	$	16.13
Arkansas	3	358	$	9.08	298	$	2,314	$	7.76	56	$	896	$	16.13
Chicago et al, IL-IN-WI	1	304	$	10.70	268	$	2,554	$	9.52	19	$	522	$	27.31
Illinois	1	304	$	10.70	268	$	2,554	$	9.52	19	$	522	$	27.31
Kansas City, MO-KS	1	133	$	9.25	87	$	698	$	8.03	26	$	346	$	13.35
Topeka, KS	1	116	$	8.57	116	$	991	$	8.57	0	$	0	$	0.00
Kansas	2	248	$	8.90	203	$	1,690	$	8.34	26	$	346	$	13.35
Hammond, LA	1	227	$	6.26	124	$	405	$	3.27	87	$	917	$	10.49
Lafayette, LA	1	138	$	10.59	18	$	90	$	5.00	62	$	758	$	12.22
Lake Charles, LA	4	446	$	7.24	309	$	1,735	$	5.62	87	$	1,131	$	12.96
Monroe, LA	1	141	$	5.28	89	$	325	$	3.64	42	$	366	$	8.80

Page 26

					Occupied	Annualized		Avg. Base		Occupied	Annualized		Avg. Base
	# of				SF	Rents		Rents		SF	Rents		Rents
	Properties	GLA	Total ABR		Greater than 10K SF					Less than 10K SF
New Orleans-Metairie-Kenner, LA	1	137	$	14.54	78	$	772	$	9.87	57	$	1,196	$	20.94
Shreveport-Bossier City, LA	1	5	$	23.29	0	$	0	$	0.00	5	$	119	$	23.29
Louisiana	9	1,095	$	8.15	618	$	3,326	$	5.38	341	$	4,487	$	13.18
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	$	7.64	104	$	570	$	5.51	53	$	623	$	11.84
Oklahoma	2	164	$	7.64	104	$	570	$	5.51	53	$	623	$	11.84
Amarillo, TX	2	68	$	9.14	11	$	48	$	4.22	29	$	319	$	11.08
Beaumont-Port Arthur, TX	6	281	$	8.30	158	$	787	$	4.98	89	$	1,264	$	14.15
Brownsville-Harlingen, TX	1	11	$	12.38	0	$	0	$	0.00	8	$	99	$	12.38
College Station-Bryan, TX	1	107	$	10.86	86	$	923	$	10.74	21	$	239	$	11.39
Corpus Christi, TX	1	372	$	13.26	245	$	2,291	$	9.34	115	$	2,483	$	21.64
Dallas-Fort Worth-Arlington, TX	10	1,272	$	13.39	542	$	5,832	$	10.75	420	$	7,055	$	16.79
Houston-Baytown-Sugar Land, TX	63	4,999	$	14.39	2,909	$	29,422	$	10.11	1,707	$	36,999	$	21.67
Killeen-Temple-Fort Hood, TX	1	115	$	12.40	98	$	1,084	$	11.04	16	$	328	$	20.86
Laredo, TX	2	374	$	13.80	219	$	2,408	$	10.98	94	$	1,916	$	20.38
Lubbock, TX	1	152	$	8.99	112	$	740	$	6.58	35	$	583	$	16.78
Lufkin, TX	1	248	$	6.38	205	$	1,076	$	5.26	18	$	345	$	19.25
McAllen-Edinburg-Pharr, TX	7	494	$	12.22	360	$	3,600	$	10.01	89	$	1,886	$	21.19
Rio Grande City, TX	1	88	$	11.46	76	$	804	$	10.63	13	$	209	$	16.38
San Antonio, TX	7	596	$	12.11	373	$	3,318	$	8.89	175	$	3,323	$	18.96
Tyler, TX	1	60	$	7.16	33	$	212	$	6.35	14	$	124	$	9.15
Texas	105	9,238	$	13.26	5,429	$	52,546	$	9.68	2,842	$	57,172	$	20.12
Total Central Region	124	11,636	$	12.33	7,050	$	64,067	$	9.09	3,385	$	64,608	$	0.00
Mid-Atlantic Region
Atlanta-Sandy Springs et al, GA	14	1,580	$	13.99	851	$	8,491	$	9.97	468	$	9,968	$	21.30
Gainesville, GA	1	28	$	13.33	21	$	239	$	11.31	5	$	110	$	21.75
Georgia	15	1,608	$	13.98	873	$	8,729	$	10.00	473	$	10,079	$	21.30
Lexington-Fayette, KY	2	299	$	13.72	218	$	2,012	$	9.22	175	$	3,390	$	19.34
Louisville, KY-IN	1	169	$	11.88	93	$	848	$	9.17	71	$	1,091	$	15.43
Kentucky	3	468	$	13.18	311	$	2,860	$	9.20	246	$	4,480	$	18.21
Lewiston-Auburn, ME	1	154	$	4.84	80	$	313	$	3.93	21	$	172	$	8.37
Maine	1	154	$	4.84	80	$	313	$	3.93	21	$	172	$	8.37
Charlotte-Gastonia et al, NC-SC	4	319	$	17.24	154	$	2,136	$	13.91	138	$	2,896	$	20.93
Durham, NC	6	289	$	12.87	126	$	1,315	$	10.48	87	$	1,416	$	16.35
Raleigh-Cary, NC	12	1,548	$	11.74	938	$	7,341	$	7.83	510	$	9,655	$	18.94
Southern Pines-Pinehurst, NC	1	252	$	9.02	112	$	565	$	5.03	67	$	1,054	$	15.69
Wilmington, NC	1	79	$	12.80	49	$	419	$	8.60	29	$	573	$	19.91
North Carolina	24	2,487	$	12.39	1,378	$	11,776	$	8.54	831	$	15,594	$	18.77
Hilton Head Island-Beaufort, SC	1	22	$	14.96	5	$	47	$	9.00	13	$	219	$	17.45
South Carolina	1	22	$	14.96	5	$	47	$	9.00	13	$	219	$	17.45
Memphis, TN-MS-AR	7	552	$	12.54	362	$	4,016	$	11.11	142	$	2,293	$	16.20
Tennessee	7	552	$	12.54	362	$	4,016	$	11.11	142	$	2,293	$	16.20
Total Mid-Atlantic Region	51	5,290	$	12.80	3,008	$	27,743	$	9.22	1,725	$	32,838	$	0.00
Southeast Region
Fort Walton Beach et al, FL	2	70	$	15.06	45	$	594	$	13.29	16	$	315	$	20.12
Jacksonville, FL	2	319	$	9.96	250	$	1,873	$	7.48	67	$	1,291	$	19.19
Miami-Fort Lauderdale et al, FL	17	1,098	$	15.91	591	$	6,253	$	10.58	417	$	9,788	$	23.48
Orlando, FL	14	1,779	$	15.24	1,082	$	13,270	$	12.27	423	$	9,661	$	22.85
Palm Bay-Melbourne et al, FL	3	182	$	8.83	102	$	587	$	5.75	53	$	784	$	14.72
Palm Coast, FL	1	83	$	17.96	53	$	739	$	13.90	29	$	737	$	25.42
Port St. Lucie-Fort Pierce, FL	1	50	$	10.35	43	$	384	$	8.99	4	$	96	$	26.26
Punta Gorda, FL	2	25	$	16.92	15	$	215	$	14.34	6	$	136	$	23.67

Page 27

					Occupied	Annualized		Avg. Base		Occupied	Annualized		Avg. Base
	# of				SF	Rents		Rents		SF	Rents		Rents
	Properties	GLA	Total ABR		Greater than 10K SF					Less than 10K SF
Sarasota-Bradenton-Venice, FL	1	97	$	10.59	46	$	324	$	7.13	28	$	456	$	16.17
Tampa-St. Petersburg et al, FL	5	1,092	$	13.30	615	$	6,191	$	10.06	314	$	6,167	$	19.66
Florida	48	4,795	$	14.26	2,841	$	30,431	$	10.71	1,356	$	29,431	$	21.70
Total Southeast Region	48	4,795	$	14.26	2,841	$	30,431	$	10.71	1,356	$	29,431	$	0.00
Total Retail	314	32,515	$	13.60	18,928	$	182,488	$	9.64	9,918	$	209,897	$	21.16
Industrial
West Region
San Diego-Carlsbad et al, CA	1	145	$	7.05	29	$	202	$	7.05	0	$	0	$	0.00
California	1	145	$	7.05	29	$	202	$	7.05	0	$	0	$	0.00
Total West Region	1	145	$	7.05	29	$	202	$	7.05	0	$	0	$	0.00
Central Region
Austin-Round Rock, TX	6	428	$	9.62	66	$	658	$	10.02	278	$	2,642	$	9.52
Dallas-Fort Worth-Arlington, TX	16	2,516	$	4.74	1,564	$	6,823	$	4.36	396	$	2,461	$	6.21
Houston-Baytown-Sugar Land, TX	27	2,928	$	5.55	2,260	$	11,750	$	5.20	352	$	2,741	$	7.79
San Antonio, TX	4	687	$	5.00	396	$	1,953	$	4.93	174	$	901	$	5.17
Texas	53	6,558	$	5.46	4,286	$	21,184	$	4.94	1,200	$	8,746	$	7.29
Total Central Region	53	6,558	$	5.46	4,286	$	21,184	$	4.94	1,200	$	8,746	$	0.00
Mid-Atlantic Region
Atlanta-Sandy Springs et al, GA	9	1,560	$	3.83	1,116	$	4,220	$	3.78	25	$	153	$	6.12
Georgia	9	1,560	$	3.83	1,116	$	4,220	$	3.78	25	$	153	$	6.12
Memphis, TN-MS-AR	3	685	$	2.60	576	$	1,494	$	2.59	2	$	8	$	4.21
Tennessee	3	685	$	2.60	576	$	1,494	$	2.59	2	$	8	$	4.21
Richmond, VA	8	858	$	4.87	716	$	3,456	$	4.83	4	$	51	$	13.78
Virginia	8	858	$	4.87	716	$	3,456	$	4.83	4	$	51	$	13.78
Total Mid-Atlantic Region	20	3,102	$	3.85	2,408	$	9,170	$	3.81	31	$	212	$	0.00
Southeast Region
Lakeland, FL	2	768	$	4.24	658	$	2,789	$	4.24	0	$	0	$	0.00
Tampa-St. Petersburg et al, FL	3	896	$	3.90	767	$	2,979	$	3.88	7	$	38	$	5.25
Florida	5	1,665	$	4.05	1,425	$	5,767	$	4.05	7	$	38	$	5.25
Total Southeast Region	5	1,665	$	4.05	1,425	$	5,767	$	4.05	7	$	38	$	0.00
Total Industrial	79	11,471	$	4.83	8,148	$	36,324	$	4.46	1,238	$	8,996	$	7.27
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 December 31, 2010
			Gross Leasable Area
	# of		WRI	Joint Venture	Owned by
ALL PROPERTIES BY STATE	Properties		Owned	Share	Other	Total
Arizona		24	2,227,811	-	1,204,412	3,432,223
Arkansas		3	358,030	-	-	358,030
California		30	3,967,251	931,635	546,242	5,445,127
Colorado		12	1,414,103	1,121,619	1,252,257	3,787,977
Florida		52	6,459,677	3,290,839	1,349,187	11,092,633
Georgia		23	3,217,418	933,066	716,003	4,866,487
Illinois		1	303,566	-	-	303,566
Kansas		2	248,335	-	-	248,335
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	2,368,116	-	1,160,131	3,528,247
New Mexico		4	474,534	-	216,134	690,668
North Carolina		25	2,540,824	181,859	742,374	3,465,057
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	1,236,720	674,070	137,740	2,048,530
Texas		155	16,085,032	5,530,405	3,028,349	24,643,786
Utah		3	306,638	60,772	296,357	663,767
Virginia		9	902,995	1,601,942	-	2,504,937
Washington		4	81,875	327,497	65,346	474,718
Grand Total		392	44,641,322	15,304,307	11,598,621	71,537,177
Total Retail		312	32,793,875	10,070,108	11,397,771	54,254,681
Total Industrial		77	11,566,000	5,234,199	200,850	17,001,049
Total Other		3	281,447	-	-	281,447
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.
(4)	Denotes single tenant retail property.
(+)	Denotes supermarket or discount store offering full service grocery along with general merchandise.

NOTES:	Square feet is reflective of area available to be leased. Certain listed properties may have additional square feet under WRI ownership.
	Average Base Rent per Leased SF excludes ground leases.

Page 30

Weingarten Realty Investors
Property Listing
As of December 31, 2010
						Gross Leasable Area
										Average
			WRI				Joint			Base
			Owned		Foot	WRI	Venture	Owned by		Rent
Center	CBSA	Anchors	%		Notes	Owned	Share	Other	Total	(ABR)
Retail
Operating Properties
Arizona
Mohave Crossroads	Lake Havasu City-Kingman, AZ	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	15.03
Palmilla Center	Phoenix-Mesa-Scottsdale, AZ	Office Max, PetSmart, Dollar Tree, Fry’s Supermarket + (O.B.O.)	100.00	%		103,568	0	70,255	173,823	17.15
Raintree Ranch	Phoenix-Mesa-Scottsdale, AZ	Whole Foods +, Golf Galaxy, Bodhi Wellness Center	100.00	%		141,230	0	0	141,230	22.55
Arrowhead Festival S.C.	Phoenix-Mesa-Scottsdale, AZ	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	21.42
Fry's Ellsworth Plaza	Phoenix-Mesa-Scottsdale, AZ	Fry’s Supermarket + (O.B.O.)	100.00	%		9,034	0	64,574	73,608	20.02
Monte Vista Village Center	Phoenix-Mesa-Scottsdale, AZ	Safeway + (O.B.O.)	100.00	%		45,751	0	62,800	108,551	23.62
Red Mountain Gateway	Phoenix-Mesa-Scottsdale, AZ	Target (O.B.O.), Bed Bath & Beyond, Famous Footwear	100.00	%		69,212	0	136,000	205,212	17.91
The Shoppes at Parkwood Ranch	Phoenix-Mesa-Scottsdale, AZ	Hobby Lobby, Dollar Tree	100.00	%		92,626	0	0	92,626	11.19
Camelback Village Square	Phoenix-Mesa-Scottsdale, AZ	Fry’s Supermarket +, Office Max, Blockbuster	100.00	%		134,494	0	100,000	234,494	14.08
Laveen Village Market	Phoenix-Mesa-Scottsdale, AZ	Fry’s Supermarket + (O.B.O.), Home Depot (O.B.O.)	100.00	%		40,025	0	71,619	111,644	24.64
Rancho Encanto	Phoenix-Mesa-Scottsdale, AZ	Fresh N Easy +, Family Dollar, Mega Furniture	100.00	%		66,787	0	0	66,787	9.45
Squaw Peak Plaza	Phoenix-Mesa-Scottsdale, AZ	Basha's +, Blockbuster	100.00	%		60,728	0	0	60,728	12.46
Desert Village	Phoenix-Mesa-Scottsdale, AZ	CVS Pharmacy, AJ Fine Foods +	100.00	%		101,863	0	0	101,863	21.26
Fountain Plaza	Phoenix-Mesa-Scottsdale, AZ	Fry’s Supermarket +, Dollar Tree, Lowes (O.B.O.)	100.00	%		102,761	0	165,000	267,761	9.60
Scottsdale Horizon	Phoenix-Mesa-Scottsdale, AZ	Safeway + (O.B.O.)	100.00	%		10,237	0	0	10,237	30.42
Basha's Valley Plaza	Phoenix-Mesa-Scottsdale, AZ	Basha’s +, Ross Dress for Less	100.00	%		145,518	0	0	145,518	9.97
Broadway Marketplace	Phoenix-Mesa-Scottsdale, AZ	Office Max, Ace Hardware	100.00	%		82,757	0	0	82,757	13.19
Pueblo Anozira	Phoenix-Mesa-Scottsdale, AZ	Fry’s Food & Drug +, Petco, Dollar Tree	100.00	%		158,269	0	0	158,269	13.44
Entrada de Oro	Tucson, AZ	Wal-Mart Neighborhood Market +	100.00	%		88,665	0	20,406	109,071	16.78
Madera Village	Tucson, AZ	Safeway +, Walgreens, Dollar Tree	100.00	%		96,732	0	10,594	107,326	11.45
Oracle Crossings	Tucson, AZ	Kohl's, Sprouts Farmers Market +	100.00	%		250,541	0	10,000	260,541	21.28
Oracle Wetmore	Tucson, AZ	Home Depot (O.B.O.), PetSmart, Walgreens, Ultimate Electronics, Ulta	100.00	%		149,961	0	105,329	255,290	22.69
Shoppes at Bears Path	Tucson, AZ	Osco Drug (O.B.O.), Carondelet Health Care Corp., Leslie Pools	100.00	%		43,928	0	21,851	65,779	15.08
Arizona Total:	# of Properties: 23					2,206,689	0	1,204,412	3,411,101
Arkansas
Markham Square	Little Rock-N. Little Rock, AR	Burlington Coat Factory	100.00	%		126,904	0	0	126,904	7.14
Markham West	Little Rock-N. Little Rock, AR	Office Depot, Michaels, Academy, Bassett Furniture, Dollar Tree	100.00	%		178,500	0	0	178,500	9.87
Westgate	Little Rock-N. Little Rock, AR	SteinMart	100.00	%		52,626	0	0	52,626	9.48
Arkansas Total:	# of Properties: 3					358,030	0	0	358,030
California
Centerwood Plaza	Los Angeles-Long Beach et al, CA	Bestway Supermarket +, Buck-A-Roos	100.00	%		76,985	0	0	76,985	9.37
Buena Vista Marketplace	Los Angeles-Long Beach et al, CA	Ralph's +, Dollar Tree	100.00	%		90,805	0	0	90,805	21.75
Westminster Center	Los Angeles-Long Beach et al, CA	Albertsons +, Home Depot, Edward’s Cinema, Rite Aid, Petco, Ross Dress for Less	100.00	%		417,820	0	0	417,820	17.13
Hallmark Town Center	Madera, CA	Food 4 Less +, Bally Total Fitness	100.00	%		85,066	0	0	85,066	12.48
Marshalls Plaza	Modesto, CA	Marshalls, Dress Barn, Guitar Center	100.00	%		78,752	0	0	78,752	14.50
Shasta Crossroads	Redding, CA	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	16.95
Jess Ranch Marketplace	Riverside et al, CA	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	19.09
Jess Ranch Phase III	Riverside et al, CA	Best Buy, Cinemark Theatres, Bed Bath & Beyond, 24 Hour Fitness	50.00	%	(1)(3)	89,757	89,757	0	179,514	17.49
Chino Hills Marketplace	Riverside et al, CA	Rite Aid, Von’s +, 24 Hour Fitness, Dollar Tree	100.00	%		311,575	0	0	311,575	19.93
Menifee Town Center	Riverside et al, CA	Ralph's +, Ross Dress for Less, Dollar Tree	100.00	%		124,431	0	124,303	248,734	15.40

Page 31

Weingarten Realty Investors
Property Listing
As of December 31, 2010
						Gross Leasable Area
										Average
			WRI				Joint			Base
			Owned		Foot	WRI	Venture	Owned by		Rent
Center	CBSA	Anchors	%		Notes	Owned	Share	Other	Total	(ABR)
Stoneridge Town Centre	Riverside et al, CA	Best Buy, Office Max, Super Target +, Kohl's	67.00	%	(1)(3)	104,942	51,688	0	156,630	22.26
Prospectors Plaza	Sacramento--Arden et al, CA	SaveMart +, Kmart, Long’s Drug Store	100.00	%		228,345	0	0	228,345	23.40
Arcade Square	Sacramento--Arden et al, CA	Grocery Outlet +, Lifestyle Furniture	100.00	%		76,497	0	0	76,497	14.23
Discovery Plaza	Sacramento--Arden et al, CA	Bel Air Market +	100.00	%		93,491	0	0	93,491	16.69
Summerhill Plaza	Sacramento--Arden et al, CA	Raley’s +, Dollar Tree	100.00	%		128,880	0	0	128,880	10.70
Valley	Sacramento--Arden et al, CA	Raley's +	100.00	%		98,240	0	0	98,240	17.41
El Camino Promenade	San Diego-Carlsbad et al, CA	T.J. Maxx, Beverages & More, Staples, Dollar Tree	100.00	%		129,651	0	0	129,651	22.90
Rancho San Marcos Village	San Diego-Carlsbad et al, CA	Von’s +, 24 Hour Fitness	100.00	%		120,829	0	0	120,829	17.63
San Marcos Plaza	San Diego-Carlsbad et al, CA	Albertsons + (O.B.O.)	100.00	%		35,880	0	45,206	81,086	32.02
580 Market Place	San Francisco-Oakland et al, CA	Petco, 24 Hour Fitness, Safeway +	100.00	%		100,165	0	0	100,165	34.15
Fremont Gateway Plaza	San Francisco-Oakland et al, CA	Raley’s +, 24 Hour Fitness, Big Cinemas	100.00	%		194,601	0	0	194,601	19.08
Greenhouse Marketplace	San Francisco-Oakland et al, CA	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	19.74
Silver Creek Plaza	San Jose-Sunnyvale et al, CA	Safeway +, Walgreens, Orchard Supply (O.B.O.)	100.00	%		132,925	0	65,000	197,925	19.99
Tully Corners Shopping Center	San Jose-Sunnyvale et al, CA	Food Maxx +, Petco	10.00	%	(1)(3)	11,599	104,393	0	115,992	18.28
Freedom Centre	Santa Cruz-Watsonville, CA	Rite Aid, Big Lots, Safeway +, Ace Hardware	100.00	%		150,241	0	0	150,241	14.49
Stony Point Plaza	Santa Rosa-Petaluma, CA	Food Maxx +	100.00	%		198,528	0	0	198,528	12.44
Southampton Center	Vallejo-Fairfield, CA	Raley’s +, Ace Hardware	100.00	%		162,764	0	0	162,764	20.79
Sunset Center	Vallejo-Fairfield, CA	Rite Aid, Ross Dress for Less, Fallas Parades, In Shape City	100.00	%		85,238	0	0	85,238	15.94
Creekside Center	Vallejo-Fairfield, CA	Raley’s +, Blockbuster	100.00	%		116,229	0	0	116,229	22.57
California Total:	# of Properties: 29					3,821,898	350,222	546,242	4,718,361
Colorado
Academy Place	Colorado Springs, CO	Safeway + (O.B.O.), Ross Dress For Less, Target (O.B.O.)	100.00	%		83,878	0	206,586	290,464	11.56
Uintah Gardens	Colorado Springs, CO	King Sooper’s +, Walgreens, Petco, Big 5 Sporting Goods, ARC Thrift	100.00	%		214,774	0	0	214,774	7.55
Aurora City Place	Denver-Aurora, CO	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	19.30
Green Valley Ranch Towne Center	Denver-Aurora, CO	King Sooper’s + (O.B.O.)	50.00	%	(1)(3)	28,474	28,474	58,000	114,947	20.90
Lowry Town Center	Denver-Aurora, CO	Albertsons + (O.B.O.)	50.00	%	(1)(3)	38,349	38,349	52,700	129,398	24.97
Edgewater Marketplace	Denver-Aurora, CO	King Sooper's +, Ace Hardware	100.00	%		145,780	0	0	145,780	10.58
CityCenter Englewood	Denver-Aurora, CO	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	16.45
Crossing at Stonegate	Denver-Aurora, CO	King Sooper’s +	51.00	%	(1)(3)	55,620	53,438	0	109,058	15.13
Thorncreek Crossing	Denver-Aurora, CO	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	14.87
Westminster Plaza	Denver-Aurora, CO	Safeway +, Walgreens (O.B.O.)	50.00	%	(1)	48,506	48,506	14,100	111,113	16.51
Colorado Total:	# of Properties: 10					1,043,559	587,316	777,386	2,408,259
Florida
Paradise Key at Kelly Plantation	Fort Walton Beach et al, FL	Publix +, Bed Bath & Beyond, Ross, Old Navy, SteinMart	10.00	%	(1)(3)	27,178	244,599	0	271,777	13.01
Shoppes at Paradise Isle	Fort Walton Beach et al, FL	Best Buy, Michaels, Office Depot, PetSmart	25.00	%	(1)(3)	42,918	128,752	0	171,670	16.62
Argyle Village	Jacksonville, FL	Bed Bath & Beyond, Publix +, T.J. Maxx, Babies “R” Us, Jo-Ann’s Fabrics, Michaels	100.00	%		312,447	0	0	312,447	10.38
Epic Village - St. Augustine	Jacksonville, FL	Epic Theaters (O.B.O.)	70.00	%	(1)	6,103	2,615	51,977	53,625	23.13
Boca Lyons	Miami-Fort Lauderdale et al, FL	Ross Dress for Less, Ethan Allen, Dollar Tree	100.00	%		113,515	0	0	113,515	18.55
Embassy Lakes	Miami-Fort Lauderdale et al, FL	Winn Dixie +, Tuesday Morning	100.00	%		131,723	0	48,214	179,937	13.77
Hollywood Hills Plaza	Miami-Fort Lauderdale et al, FL	Publix +, Target, CVS/pharmacy	20.00	%	(1)(3)	72,957	291,828	0	364,785	18.11
TJ Maxx Plaza	Miami-Fort Lauderdale et al, FL	T.J. Maxx, Winn Dixie +	100.00	%		161,429	0	0	161,429	13.81
Palm Lakes Plaza	Miami-Fort Lauderdale et al, FL	Publix +, CVS/pharmacy	20.00	%	(1)(3)	22,750	91,002	0	113,752	11.21
Kendall Corners	Miami-Fort Lauderdale et al, FL	Ashley Furniture	20.00	%	(1)(3)	19,294	77,178	0	96,472	27.41
South Dade	Miami-Fort Lauderdale et al, FL	Publix +, Petco, Chuck E. Cheese, Bed Bath & Beyond	20.00	%	(1)(3)	43,895	175,578	0	219,473	14.24

Page 32

Weingarten Realty Investors
Property Listing
As of December 31, 2010
						Gross Leasable Area
										Average
			WRI				Joint			Base
			Owned		Foot	WRI	Venture	Owned by		Rent
Center	CBSA	Anchors	%		Notes	Owned	Share	Other	Total	(ABR)
Tamiami Trail Shops	Miami-Fort Lauderdale et al, FL	Publix +, CVS/pharmacy	20.00	%	(1)(3)	22,173	88,694	0	110,867	14.32
Northridge	Miami-Fort Lauderdale et al, FL	Publix +, Petco, Ross Dress for Less, Anna's Linens, Bally Total Fitness	20.00	%	(1)(3)	47,214	188,855	0	236,069	16.44
Shoppes at Parkland	Miami-Fort Lauderdale et al, FL	BJ's Wholesale Club +	30.00	%	(1)	43,696	101,956	0	145,652	11.75
Flamingo Pines	Miami-Fort Lauderdale et al, FL	U.S. Post Office, Keiser College	100.00	%		130,942	0	105,350	236,292	21.58
Flamingo Pines	Miami-Fort Lauderdale et al, FL	Publix +	20.00	%	(1)(3)	25,284	101,135	0	126,419	16.71
Pembroke Commons	Miami-Fort Lauderdale et al, FL	Publix +, Marshalls, Office Depot, LA Fitness, Dollar Tree	20.00	%	(1)(3)	60,879	243,516	0	304,395	13.74
Publix at Laguna Isles	Miami-Fort Lauderdale et al, FL	Publix +	100.00	%		69,475	0	0	69,475	14.88
Vizcaya Square	Miami-Fort Lauderdale et al, FL	Blockbuster	100.00	%		112,410	0	0	112,410	15.38
Sunrise West Shopping Center	Miami-Fort Lauderdale et al, FL	Publix +	25.00	%	(1)(3)	19,080	57,241	0	76,321	15.03
Colonial Landing	Orlando, FL	Bed Bath & Beyond, PetSmart, Sports Authority	50.00	%	(1)	131,504	131,504	0	263,007	13.09
Colonial Plaza	Orlando, FL	Staples, Ross Dress for Less, Babies “R” Us, Marshalls, Old Navy, SteinMart, Barnes & Noble, Petco, Big Lots, Hobby Lobby	100.00	%		502,182	0	0	502,182	13.07
International Drive Value Center	Orlando, FL	Bed Bath & Beyond, Ross Dress for Less, T.J. Maxx	20.00	%	(1)(3)	37,133	148,531	0	185,664	9.60
Market at Southside	Orlando, FL	Ross Dress for Less, Beall’s, Dollar Tree	100.00	%		95,208	0	64,627	159,835	9.89
Phillips Crossing	Orlando, FL	Whole Foods +, Golf Galaxy, Michaels	100.00	%		145,704	0	0	145,704	25.99
Phillips Landing	Orlando, FL	Wal-Mart (O.B.O.), Planet Fitness	100.00	%		66,223	0	219,815	286,038	21.38
The Marketplace at Dr. Phillips	Orlando, FL	Stein Mart, Office Depot, Home Goods, Morton's of Chicago	20.00	%	(1)(3)	65,222	260,886	0	326,108	20.86
The Shoppes at South Semoran	Orlando, FL	Dollar Tree	100.00	%		101,486	0	0	101,486	11.42
Westland Terrace Plaza	Orlando, FL	T.J. Maxx, Petco, Shoe Carnival, Super Target + (O.B.O.)	100.00	%		77,521	0	183,000	260,521	12.00
Alafaya Square	Orlando, FL	Publix +	20.00	%	(1)(3)	35,297	141,189	0	176,486	13.47
University Palms	Orlando, FL	Publix +	30.00	%	(1)	29,752	69,420	0	99,172	12.69
Marketplace at Seminole Towne Center	Orlando, FL	Sports Authority, Marshalls, Old Navy, Petco, Super Target + (O.B.O.)	100.00	%		313,612	0	185,000	498,612	16.56
Winter Park Corners	Orlando, FL	Whole Foods Market +	100.00	%		102,382	0	0	102,382	18.55
Indian Harbour Place	Palm Bay-Melbourne et al, FL	Beall's, Publix +	25.00	%	(1)(3)	40,880	122,641	0	163,521	11.82
Lake Washington Crossing	Palm Bay-Melbourne et al, FL	Publix +, Famous Labels	25.00	%	(1)(3)	29,707	89,121	0	118,828	10.06
Lake Washington Square	Palm Bay-Melbourne et al, FL	Tuesday Morning	100.00	%		111,811	0	0	111,811	12.31
Palm Coast Center	Palm Coast, FL	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	17.62
Pineapple Commons	Port St. Lucie-Fort Pierce, FL	City Furniture, Best Buy, Ross Dress for Less, PetSmart, Marshalls	20.00	%	(1)(3)	49,803	199,211	0	249,014	14.39
Quesada Commons	Punta Gorda, FL	Publix +	25.00	%	(1)(3)	14,722	44,168	0	58,890	13.55
Shoppes of Port Charlotte	Punta Gorda, FL	Chick-Fil-A	25.00	%	(1)(3)(4)	980	2,941	0	3,921	N/A
Shoppes of Port Charlotte	Punta Gorda, FL	Petco	25.00	%	(1)(3)	10,253	30,758	0	41,011	22.12
Venice Pines	Sarasota-Bradenton-Venice, FL	Sweet Bay +	100.00	%		97,303	0	0	97,303	10.59
Countryside Centre	Tampa-St. Petersburg et al, FL	T.J. Maxx, Home Goods	100.00	%		242,567	0	0	242,567	15.96
Sunset 19	Tampa-St. Petersburg et al, FL	Publix +, Bed Bath & Beyond, Staples, Comp USA, Barnes & Noble, Sports Authority, Old Navy	100.00	%		275,910	0	0	275,910	11.87
Largo Mall	Tampa-St. Petersburg et al, FL	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	14.98
East Lake Woodlands	Tampa-St. Petersburg et al, FL	Walgreens	20.00	%	(1)(3)	28,123	112,494	0	140,617	17.30
Palms of Carrollwood	Tampa-St. Petersburg et al, FL	Bed Bath & Beyond, The Fresh Market +	100.00	%		167,887	0	0	167,887	12.63
Florida Total:	# of Properties: 46					4,719,548	3,229,211	1,245,012	9,186,701
Georgia
Lakeside Marketplace	Atlanta-Sandy Springs et al, GA	Ross Dress for Less, Petco, Office Max, Super Target + (O.B.O.)	100.00	%		136,848	0	174,000	310,848	17.13
Mansell Crossing	Atlanta-Sandy Springs et al, GA	Buy Buy Baby, Ross Dress for Less, Rooms to Go	20.00	%	(1)(3)	20,586	82,345	0	102,931	14.54
Camp Creek Marketplace II	Atlanta-Sandy Springs et al, GA	Shopper's World, DSW, American Signature, LA Fitness	100.00	%		196,283	0	0	196,283	13.40
Cherokee Plaza	Atlanta-Sandy Springs et al, GA	Kroger +	30.00	%	(1)	29,925	69,824	0	99,749	20.88
Perimeter Village	Atlanta-Sandy Springs et al, GA	Wal-Mart Supercenter +, Cost Plus World Market, DSW, Borders, Hobby Lobby	100.00	%		387,755	0	0	387,755	19.99
Publix at Princeton Lakes	Atlanta-Sandy Springs et al, GA	Publix +	20.00	%	(1)(3)	13,681	54,726	0	68,407	14.87
Brookwood Square	Atlanta-Sandy Springs et al, GA	Marshalls, Staples	100.00	%		253,448	0	0	253,448	10.31

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Weingarten Realty Investors
Property Listing
As of December 31, 2010
						Gross Leasable Area
										Average
			WRI				Joint			Base
			Owned		Foot	WRI	Venture	Owned by		Rent
Center	CBSA	Anchors	%		Notes	Owned	Share	Other	Total	(ABR)
Dallas Commons	Atlanta-Sandy Springs et al, GA	Kroger + (O.B.O.)	100.00	%		25,158	0	70,104	95,262	21.59
Reynolds Crossing	Atlanta-Sandy Springs et al, GA	Kroger + (O.B.O.)	100.00	%		45,758	0	70,225	115,983	24.00
Grayson Commons	Atlanta-Sandy Springs et al, GA	Kroger +	100.00	%		76,611	0	0	76,611	14.30
Sandy Plains Exchange	Atlanta-Sandy Springs et al, GA	Publix +	30.00	%	(1)	21,835	50,949	0	72,784	13.11
Brownsville Commons	Atlanta-Sandy Springs et al, GA	Kroger + (O.B.O.)	100.00	%		27,747	0	54,139	81,886	20.27
Roswell Corners	Atlanta-Sandy Springs et al, GA	Staples, T.J. Maxx, Super Target + (O.B.O.)	100.00	%		144,834	0	173,535	318,369	15.54
Brookwood Marketplace	Atlanta-Sandy Springs et al, GA	Office Max, Home Depot, Bed Bath & Beyond, Super Target + (O.B.O.)	100.00	%		199,594	0	174,000	373,594	18.20
Thompson Bridge Commons	Gainesville, GA	Kroger +	30.00	%	(1)	27,776	64,811	0	92,587	13.33
Georgia Total:	# of Properties: 15					1,607,839	322,655	716,003	2,646,497
Illinois
Burbank Station	Chicago et al, IL-IN-WI	Babies "R" Us, Food For Less +, AJ Wright, Office Max, The Sports Authority, PetSmart	100.00	%		303,566	0	0	303,566	11.90
Illinois Total:	# of Properties: 1					303,566	0	0	303,566
Kansas
Shawnee Village	Kansas City, MO-KS	Burlington Coat Factory	100.00	%		132,619	0	0	132,619	9.25
Kohl's	Topeka, KS	Barnes & Noble, Kohl’s	100.00	%		115,716	0	0	115,716	10.00
Kansas Total:	# of Properties: 2					248,335	0	0	248,335
Kentucky
Millpond Center	Lexington-Fayette, KY	Kroger +	100.00	%		124,567	0	27,000	151,567	9.93
Regency Shopping Centre	Lexington-Fayette, KY	T.J. Maxx, Michaels, Kroger + (O.B.O.)	100.00	%		142,972	0	46,044	189,016	14.55
Tates Creek	Lexington-Fayette, KY	Kroger +, Rite Aid	100.00	%		174,290	0	5,160	179,450	14.74
Festival at Jefferson Court	Louisville, KY-IN	Kroger +, PetSmart (O.B.O.), Factory Card Outlet, Staples	100.00	%		168,986	0	49,410	218,396	11.88
Kentucky Total:	# of Properties: 4					610,815	0	127,614	738,429
Louisiana
Town & Country Plaza	Hammond, LA	Winn Dixie +, Office Depot, CVS/pharmacy, Ross	100.00	%		227,452	0	0	227,452	8.05
River Marketplace	Lafayette, LA	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	14.91
Westwood Village	Lafayette, LA	Rouses Supermarket +, Stage	100.00	%		138,034	0	0	138,034	10.59
14/Park Plaza	Lake Charles, LA	Kroger +, Conn’s, Anna's Linens, Family Dollar, Citi Trends	100.00	%		172,068	0	0	172,068	7.43
K-Mart Plaza	Lake Charles, LA	Albertsons +, Kmart, Dollar Tree	50.00	%	(1)(3)	107,974	107,974	0	215,948	7.98
Prien Lake Plaza	Lake Charles, LA	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	22.25
Southgate	Lake Charles, LA	Market Basket +, Office Depot, Books-A-Million	100.00	%		157,538	0	0	157,538	8.83
Danville Plaza	Monroe, LA	County Market +, Citi Trends, Surplus Warehouse	100.00	%		141,380	0	0	141,380	5.09
Manhattan Place	New Orleans-Metairie-Kenner, LA	Target (O.B.O.), Ross Dress for Less, Stage, K&G Fashion	100.00	%		137,315	0	139,300	276,615	14.54
Orleans Station	New Orleans-Metairie-Kenner, LA	Vacant	100.00	%	(4)	0	0	0	0	N/A
University Place	Shreveport-Bossier City, LA	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	23.29
University Place	Shreveport-Bossier City, LA	Super Target + (O.B.O.), Best Buy, T.J. Maxx, CVS/pharmacy (O.B.O), Bed Bath & Beyond	100.00	%		5,100	0	0	5,100	15.86
Louisiana Total:	# of Properties: 11					1,149,380	415,591	693,875	2,258,846
Maine
The Promenade	Lewiston-Auburn, ME	Staples	75.00	%	(1)	153,535	51,178	0	204,713	3.99
Maine Total:	# of Properties: 1					153,535	51,178	0	204,713
Missouri
Ballwin Plaza	St. Louis, MO-IL	Schnucks +, Michaels, Sears Hardware	100.00	%		200,915	0	0	200,915	9.30

Page 34

Weingarten Realty Investors
Property Listing
As of December 31, 2010
						Gross Leasable Area
										Average
			WRI				Joint			Base
			Owned		Foot	WRI	Venture	Owned by		Rent
Center	CBSA	Anchors	%		Notes	Owned	Share	Other	Total	(ABR)
Western Plaza	St. Louis, MO-IL	Value Village	50.00	%	(1)(3)	28,317	28,317	0	56,634	7.35
Missouri Total:	# of Properties: 2					229,232	28,317	0	257,549
Nevada
Eastern Horizon	Las Vegas-Paradise, NV	Kmart + (O.B.O.), Trader Joe's +	100.00	%		65,848	0	143,879	209,727	20.98
Best in the West	Las Vegas-Paradise, NV	Best Buy, Borders, Bed Bath & Beyond, Babies "R" Us, DSW Shoes, Office Depot, Old Navy, PetSmart, Jo-Ann Stores, Sports Authority, Ulta	100.00	%		428,067	0	0	428,067	16.08
Charleston Commons	Las Vegas-Paradise, NV	Wal-Mart +, Ross, Office Max, 99 Cents Only, PetSmart	100.00	%		332,539	0	0	332,539	16.06
College Park S.C.	Las Vegas-Paradise, NV	El Super +, Sav-On Drugs, Anna's Linens, Factory 2 U	100.00	%		167,654	0	0	167,654	10.75
Francisco Centre	Las Vegas-Paradise, NV	Ross Dress for Less (O.B.O.), Fallas Paredes, La Bonita Grocery +	100.00	%		116,973	0	31,842	148,815	12.39
Mission Center	Las Vegas-Paradise, NV	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	11.93
Paradise Marketplace	Las Vegas-Paradise, NV	Smith’s Food + (O.B.O.), Dollar Tree	100.00	%		77,597	0	70,495	148,092	17.05
Rainbow Plaza	Las Vegas-Paradise, NV	Albertsons +, JC Penney, Ultimate Electronics, Home Depot, 24 Hour Fitness	100.00	%		273,916	0	0	273,916	15.11
Rainbow Plaza, Phase I	Las Vegas-Paradise, NV	Albertsons +, JC Penney, Ultimate Electronics, Home Depot, 24 Hour Fitness	100.00	%		136,369	0	0	136,369	15.11
Rancho Towne & Country	Las Vegas-Paradise, NV	Smith’s Food +	100.00	%		84,743	0	0	84,743	11.44
Tropicana Beltway	Las Vegas-Paradise, NV	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	17.75
Tropicana Marketplace	Las Vegas-Paradise, NV	Smith’s Food + (O.B.O.), Family Dollar	100.00	%		71,325	0	73,168	144,493	18.80
Westland Fair North	Las Vegas-Paradise, NV	Wal-Mart Supercenter + (O.B.O.), Lowe’s (O.B.O.), PetSmart, Office Depot, Michaels, Anna's Linens	100.00	%		214,127	0	386,458	600,585	16.64
Nevada Total:	# of Properties: 12					2,368,116	0	1,160,131	3,528,247
New Mexico
Eastdale	Albuquerque, NM	Albertsons +, Family Dollar	100.00	%		119,111	0	0	119,111	7.41
North Towne Plaza	Albuquerque, NM	Whole Foods Market +, Borders	100.00	%		107,666	0	0	107,666	16.98
Pavillions at San Mateo	Albuquerque, NM	Old Navy, Shoe Department, Skechers, Pima Medical Institute, Ultimate Electronics, Dollar Tree	100.00	%		196,044	0	0	196,044	16.45
Wyoming Mall	Albuquerque, NM	Wal-Mart Supercenter + (O.B.O.), Dollar Tree	100.00	%		51,713	0	216,134	267,847	15.71
New Mexico Total:	# of Properties: 4					474,534	0	216,134	690,668
North Carolina
Galleria	Charlotte-Gastonia et al, NC-SC	Off Broadway Shoes, Wal-Mart (O.B.O.)	100.00	%		120,674	0	207,602	328,276	17.03
Johnston Road Plaza	Charlotte-Gastonia et al, NC-SC	Food Lion +	100.00	%		79,508	0	0	79,508	15.19
Steele Creek Crossing	Charlotte-Gastonia et al, NC-SC	BI-LO +, Rite Aid	100.00	%		77,301	0	0	77,301	16.68
Whitehall Commons	Charlotte-Gastonia et al, NC-SC	Wal-Mart Supercenter + (O.B.O.), Lowes (O.B.O.), BI-LO + (O.B.O.)	100.00	%		41,941	0	402,620	444,561	24.38
Chatham Crossing	Durham, NC	Lowes Food +, CVS/pharmacy	25.00	%	(1)(3)	24,039	72,116	0	96,155	13.28
Cole Park Plaza	Durham, NC	Dollar General	25.00	%	(1)(3)	20,564	61,694	0	82,258	9.41
Bull City Market	Durham, NC	Whole Foods Market +	100.00	%		42,517	0	0	42,517	11.54
Hope Valley Commons	Durham, NC	Harris Teeter +	100.00	%		81,371	0	0	81,371	21.34
Mineral Springs Village	Durham, NC	Rite Aid, Carlie C's IGA +	100.00	%		59,859	0	0	59,859	9.56
Ravenstone Commons	Durham, NC	Food Lion +, Blockbuster	100.00	%		60,424	0	0	60,424	14.67
Capital Square	Raleigh-Cary, NC	Food Lion +	100.00	%		143,063	0	0	143,063	7.59
Harrison Pointe	Raleigh-Cary, NC	Harris Teeter +, Staples	100.00	%		130,934	0	0	130,934	16.81
High House Crossing	Raleigh-Cary, NC	Harris Teeter +	100.00	%		89,997	0	0	89,997	14.42
Northwoods Market	Raleigh-Cary, NC	Food Lion +	100.00	%		77,802	0	0	77,802	12.28
Parkway Pointe	Raleigh-Cary, NC	Food Lion +, Rite Aid	100.00	%		80,061	0	0	80,061	10.80
Avent Ferry	Raleigh-Cary, NC	Food Lion +, Family Dollar	100.00	%		111,622	0	0	111,622	16.45
Falls Pointe	Raleigh-Cary, NC	Harris Teeter +, Kohl’s (O.B.O.)	100.00	%		106,981	0	86,350	193,331	17.76
Leesville Town Centre	Raleigh-Cary, NC	Harris Teeter +, Rite Aid	100.00	%		114,396	0	0	114,396	21.22

Page 35

Weingarten Realty Investors
Property Listing
As of December 31, 2010
						Gross Leasable Area
										Average
			WRI				Joint			Base
			Owned		Foot	WRI	Venture	Owned by		Rent
Center	CBSA	Anchors	%		Notes	Owned	Share	Other	Total	(ABR)
Little Brier Creek	Raleigh-Cary, NC	Lowe's Food + (O.B.O.)	100.00	%		17,119	0	45,802	62,921	23.96
Six Forks Station	Raleigh-Cary, NC	Kmart, Home Depot, Food Lion +, Bed Bath & Beyond, Borders	100.00	%		466,585	0	0	466,585	10.84
Stonehenge Market	Raleigh-Cary, NC	Harris Teeter +, SteinMart	100.00	%		188,521	0	0	188,521	12.43
Heritage Station	Raleigh-Cary, NC	Harris Teeter +	30.00	%	(1)	20,592	48,049	0	68,641	19.12
Pinecrest Plaza	Southern Pines-Pinehurst, NC	Food Lion +, Michaels, Belk’s, Burke's Outlet Stores Inc.	100.00	%		252,038	0	0	252,038	12.52
North Carolina Total:	# of Properties: 23					2,407,909	181,859	742,374	3,332,142
Oklahoma
Market Boulevard	Oklahoma City, OK	Rent 1st	100.00	%		35,765	0	0	35,765	11.79
Town and Country	Oklahoma City, OK	Office Depot, Big Lots, Westlake Hardware, Aaron Rents	100.00	%		128,231	0	0	128,231	6.74
Oklahoma Total:	# of Properties: 2					163,996	0	0	163,996
Oregon
Clackamas Square	Portland-Vancouver et al, OR-WA	T.J. Maxx, Winco Foods + (O.B.O.)	20.00	%	(1)(3)	14,828	59,311	62,600	136,739	17.21
Oak Grove Market Center	Portland-Vancouver et al, OR-WA	Safeway +	100.00	%		97,177	0	0	97,177	12.13
Raleigh Hills Plaza	Portland-Vancouver et al, OR-WA	Walgreens, New Seasons Market +	20.00	%	(1)(3)	7,904	31,616	0	39,520	24.40
Oregon Total:	# of Properties: 3					119,909	90,927	62,600	273,436
South Carolina
Fresh Market Shoppes	Hilton Head Island-Beaufort, SC	The Fresh Market +	25.00	%	(1)(3)	21,530	64,590	0	86,120	14.96
South Carolina Total:	# of Properties: 1					21,530	64,590	0	86,120
Tennessee
Bartlett Towne Center	Memphis, TN-MS-AR	Kroger +, Petco, Dollar Tree, Shoe Carnival	100.00	%		192,624	0	0	192,624	11.09
Commons at Dexter Lake	Memphis, TN-MS-AR	Kroger +, SteinMart, Marshalls	30.00	%	(1)	50,087	116,871	0	166,958	9.51
Commons at Dexter Lake Phase II	Memphis, TN-MS-AR	Kroger +, SteinMart, Marshalls	30.00	%	(1)(4)	18,461	43,077	0	61,538	N/A
Highland Square	Memphis, TN-MS-AR	Walgreens	100.00	%	(4)	14,490	0	0	14,490	N/A
Mendenhall Commons	Memphis, TN-MS-AR	Kroger +	30.00	%	(1)	25,154	58,693	0	83,847	11.97
Summer Center	Memphis, TN-MS-AR	Kroger +, Ross Dress for Less	100.00	%		137,335	0	0	137,335	9.94
Tennessee Total:	# of Properties: 5					438,151	218,641	0	656,792
Texas
Bell Plaza	Amarillo, TX	United Supermarket +, Dollar Tree	15.00	%	(1)	19,595	111,036	0	130,631	11.90
Coronado	Amarillo, TX	Blockbuster	100.00	%		48,165	0	0	48,165	9.56
Calder	Beaumont-Port Arthur, TX	Harmony Science Academy	100.00	%	(4)	34,641	0	0	34,641	N/A
North Park Plaza	Beaumont-Port Arthur, TX	Target (O.B.O.), Toys “R” Us (O.B.O.)	50.00	%	(1)(3)	70,036	70,036	141,329	281,401	13.63
Phelan	Beaumont-Port Arthur, TX	Kroger + (O.B.O.)	100.00	%		12,000	0	0	12,000	16.72
Phelan West	Beaumont-Port Arthur, TX	Kroger + (O.B.O.)	66.70	%	(1)(3)	15,552	7,779	58,890	82,221	12.33
Gillham Circle	Beaumont-Port Arthur, TX	Family Dollar	100.00	%		33,134	0	0	33,134	5.75
Crossroads	Beaumont-Port Arthur, TX	Market Basket +, Beall’s, Baskin’s, Burke’s Outlet	100.00	%		115,692	0	0	115,692	4.61
Lone Star Pavilions	College Station-Bryan, TX	Best Buy, Office Depot, Barnes & Noble	100.00	%		106,907	0	0	106,907	10.86
Moore Plaza	Corpus Christi, TX	Office Depot, Marshalls, H. E. B. +, (O.B.O.), Target (O.B.O.), Old Navy, Hobby Lobby, Steinmart	100.00	%		371,907	0	161,909	533,816	13.26
Gateway Station	Dallas-Fort Worth-Arlington, TX	Conn's	70.00	%	(1)	47,950	20,550	0	68,500	9.46
Horne Street Market	Dallas-Fort Worth-Arlington, TX	24 Hour Fitness	100.00	%	(4)	42,267	0	0	42,267	N/A
Overton Park Plaza	Dallas-Fort Worth-Arlington, TX	Sports Authority, PetsMart, Office Depot, T.J. Maxx, Home Depot (O.B.O.), Goody Goody Wines, Anna’s Linens, Sprouts Farmers Market +, Buy Buy Baby	100.00	%		356,322	0	110,000	466,322	12.94
Independence Plaza	Dallas-Fort Worth-Arlington, TX	Babies “R” Us, Family Dollar, Harbor Freight	100.00	%		170,363	0	0	170,363	11.96
Custer Park	Dallas-Fort Worth-Arlington, TX	Kroger + (O.B.O.)	100.00	%		114,489	0	65,084	179,573	14.65
Pitman Corners	Dallas-Fort Worth-Arlington, TX	Albertsons +, Tuesday Morning	100.00	%		192,283	0	0	192,283	9.05

Page 36

Weingarten Realty Investors
Property Listing
As of December 31, 2010
						Gross Leasable Area
										Average
			WRI				Joint			Base
			Owned		Foot	WRI	Venture	Owned by		Rent
Center	CBSA	Anchors	%		Notes	Owned	Share	Other	Total	(ABR)
Preston Shepard Place	Dallas-Fort Worth-Arlington, TX	SteinMart, Old Navy, Office Depot, Marshalls, Babies "R" Us, Borders, PETCO	20.00	%	(1)(3)	72,667	290,670	0	363,337	15.86
Rockwall	Dallas-Fort Worth-Arlington, TX	Office Max, Petco, Ross Dress for Less, Old Navy, Michael's, Toys R Us Express	100.00	%		209,051	0	0	209,051	13.09
Lake Pointe Market Center	Dallas-Fort Worth-Arlington, TX	Tom Thumb + (O.B.O.), Walgreens (O.B.O.)	100.00	%		40,513	0	81,176	121,689	20.77
Boswell Towne Center	Dallas-Fort Worth-Arlington, TX	Albertsons + (O.B.O)	100.00	%		26,088	0	61,747	87,835	20.93
Montgomery Plaza	Houston-Baytown-Sugar Land, TX	Academy, Conn’s, 99 Cents Only, Petco, Anna's Linens, Spec's	100.00	%		300,772	0	0	300,772	8.78
Broadway	Houston-Baytown-Sugar Land, TX	Big Lots, Family Dollar	15.00	%	(1)	11,191	63,413	0	74,604	6.41
Food King Place	Houston-Baytown-Sugar Land, TX	Vacant	100.00	%	(4)	28,062	0	0	28,062	N/A
Galveston Place	Houston-Baytown-Sugar Land, TX	Randall’s +, Office Depot, Spec's Liquor, Palais Royal	100.00	%		210,187	0	0	210,187	10.28
10/Federal	Houston-Baytown-Sugar Land, TX	Citi Trends, Palais Royal, Sellers Bros. +	15.00	%	(1)	19,871	112,601	0	132,472	7.23
Alabama-Shepherd	Houston-Baytown-Sugar Land, TX	PetSmart	100.00	%		56,110	0	0	56,110	21.17
Bayshore Plaza	Houston-Baytown-Sugar Land, TX	Fitness Connections (O.B.O.)	100.00	%		36,039	0	86,000	122,039	13.56
Bellaire Boulevard	Houston-Baytown-Sugar Land, TX	Randall’s +	30.00	%	(1)	10,524	24,557	0	35,081	25.50
Braeswood Square	Houston-Baytown-Sugar Land, TX	Belden’s +, Walgreens	100.00	%		103,336	0	0	103,336	12.05
Centre at Post Oak	Houston-Baytown-Sugar Land, TX	Marshalls, Barnes & Noble, Old Navy, Grand Lux Café, Nordstrom Rack	100.00	%		184,601	0	0	184,601	27.79
Champions Village	Houston-Baytown-Sugar Land, TX	Randall’s +, SteinMart, Palais Royal, Cost Plus, Barnes & Noble	30.00	%	(1)	115,374	269,207	0	384,581	13.00
Cullen Center	Houston-Baytown-Sugar Land, TX	Beauty Supply	100.00	%		7,316	0	0	7,316	18.76
Cullen Plaza	Houston-Baytown-Sugar Land, TX	Fiesta +, JPMorgan Chase Bank, Family Dollar	15.00	%	(1)	12,678	71,839	0	84,517	9.37
Cypress Pointe	Houston-Baytown-Sugar Land, TX	Kroger +, Office Depot, Babies “R” Us	100.00	%		190,704	0	96,660	287,364	9.76
Eastpark	Houston-Baytown-Sugar Land, TX	Jack in the Box, CVS/pharmacy (O.B.O.), US Postal Service (O.B.O.)	100.00	%	(4)	1,576	0	0	1,576	N/A
Edgebrook	Houston-Baytown-Sugar Land, TX	Fiesta +, JPMorgan Chase Bank, Family Dollar	15.00	%	(1)	11,769	66,691	0	78,460	9.56
Fiesta Village	Houston-Baytown-Sugar Land, TX	Fiesta +	15.00	%	(1)	4,537	25,712	0	30,249	7.60
Fondren/West Airport	Houston-Baytown-Sugar Land, TX	Save-A-Lot +	100.00	%		37,117	0	0	37,117	10.59
Glenbrook Square	Houston-Baytown-Sugar Land, TX	Kroger +, Blockbuster	15.00	%	(1)	11,684	66,206	0	77,890	8.96
Griggs Road	Houston-Baytown-Sugar Land, TX	Family Dollar, Citi Trends	15.00	%	(1)	12,017	68,099	0	80,116	8.08
Harrisburg Plaza	Houston-Baytown-Sugar Land, TX	Fallas Paredes	15.00	%	(1)	14,016	79,422	0	93,438	16.39
Heights Plaza	Houston-Baytown-Sugar Land, TX	Kroger +	100.00	%		71,777	0	0	71,777	6.69
Humblewood Shopping Plaza	Houston-Baytown-Sugar Land, TX	Kroger +, Conn’s, Walgreens, Michaels (O.B.O.), DSW (O.B.O.)	100.00	%		176,673	0	99,000	275,673	13.52
I-45/Telephone Rd. Center	Houston-Baytown-Sugar Land, TX	Sellers Bros. +, Dollar Tree, FAMSA, Fallas Paredes	15.00	%	(1)	25,768	146,021	0	171,789	10.17
Jacinto City	Houston-Baytown-Sugar Land, TX	Sellers Bros. +	50.00	%	(1)	24,569	24,569	0	49,138	6.79
Kirby Strip Center	Houston-Baytown-Sugar Land, TX	Freebirds Burrito	100.00	%		10,000	0	0	10,000	24.40
Lawndale	Houston-Baytown-Sugar Land, TX	Family Dollar, 99 Cents Only, LaMichoacana Meat Market +	15.00	%	(1)	7,819	44,308	0	52,127	9.93
Little York Plaza	Houston-Baytown-Sugar Land, TX	Sellers Bros. +, Fallas Paredes	15.00	%	(1)	17,082	96,796	0	113,878	7.77
Lyons Avenue	Houston-Baytown-Sugar Land, TX	Fiesta +, Fallas Paredes	15.00	%	(1)	10,144	57,485	0	67,629	7.13
Market at Westchase	Houston-Baytown-Sugar Land, TX	Whole Foods Market +	100.00	%		84,081	0	0	84,081	17.66
North Main Square	Houston-Baytown-Sugar Land, TX	O'Reilly Auto Parts	100.00	%		18,515	0	0	18,515	8.43
North Oaks	Houston-Baytown-Sugar Land, TX	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	10.27
North Triangle	Houston-Baytown-Sugar Land, TX	CiCi’s Pizza	100.00	%		16,060	0	0	16,060	19.53
Northbrook Center	Houston-Baytown-Sugar Land, TX	Randall’s +, Office Depot, Citi Trends, Anna’s Linens, Dollar Tree	100.00	%		173,288	0	0	173,288	13.23
Northwest Crossing	Houston-Baytown-Sugar Land, TX	Target (O.B.O.), Marshalls, Babies “R” Us, Best Buy	75.00	%	(1)(3)	136,177	45,392	120,721	302,290	16.08
Oak Forest	Houston-Baytown-Sugar Land, TX	Kroger +, Ross Dress for Less, Dollar Tree	100.00	%		152,504	0	0	152,504	11.91
Orchard Green	Houston-Baytown-Sugar Land, TX	Sellers Bros. +, Family Dollar	100.00	%		74,983	0	0	74,983	9.66
Randall's /Cypress Station	Houston-Baytown-Sugar Land, TX	ATI Career Training Center	100.00	%		138,974	0	0	138,974	12.80
Randall's /Kings Crossing	Houston-Baytown-Sugar Land, TX	Randall’s +, CVS/pharmacy	30.00	%	(1)	37,919	88,478	0	126,397	15.42
Randall's /Norchester	Houston-Baytown-Sugar Land, TX	Playa Azul Seafood & Oyster Bar	100.00	%		107,200	0	0	107,200	14.49
Richmond Square	Houston-Baytown-Sugar Land, TX	Best Buy (O.B.O.), Cost Plus	100.00	%		35,623	0	58,247	93,870	19.74
River Oaks East	Houston-Baytown-Sugar Land, TX	Kroger +	100.00	%		71,265	0	0	71,265	23.20
River Oaks West	Houston-Baytown-Sugar Land, TX	Barnes & Noble, Talbots, JoS. A. Bank, Ann Taylor, Gap	100.00	%		248,820	0	0	248,820	23.20
Sheldon Forest North	Houston-Baytown-Sugar Land, TX	Family Dollar	100.00	%		22,040	0	0	22,040	8.35

Page 37

 

Weingarten Realty Investors
Property Listing
As of December 31, 2010
						Gross Leasable Area
										Average
			WRI				Joint			Base
			Owned		Foot	WRI	Venture	Owned by		Rent
Center	CBSA	Anchors	%		Notes	Owned	Share	Other	Total	(ABR)
Sheldon Forest South	Houston-Baytown-Sugar Land, TX	Gerland’s +, Burke’s Outlet	50.00	%	(1)	37,670	37,670	0	75,340	8.35
Shops at Three Corners	Houston-Baytown-Sugar Land, TX	Fiesta +, Office Depot, PetSmart, Ross Dress for Less, Big Lots	70.00	%	(1)	173,060	74,169	0	247,229	12.69
Southgate	Houston-Baytown-Sugar Land, TX	Food-A-Rama +, Palais Royal, CVS/pharmacy, Family Dollar	15.00	%	(1)	18,789	106,471	0	125,260	9.45
Spring Plaza	Houston-Baytown-Sugar Land, TX	Sellers Bros. +, Family Dollar	15.00	%	(1)	8,875	50,291	0	59,166	8.15
Stella Link	Houston-Baytown-Sugar Land, TX	Sellers Bros.+, Spec’s Liquor Warehouse, Burke’s Outlet	100.00	%		71,287	0	0	71,287	9.08
Studemont	Houston-Baytown-Sugar Land, TX	Fiesta +	100.00	%	(4)	28,466	0	0	28,466	N/A
Ten Blalock Square	Houston-Baytown-Sugar Land, TX	99 Ranch Market +	100.00	%		97,277	0	0	97,277	14.85
Village Arcade	Houston-Baytown-Sugar Land, TX	Gap, Baby Gap, Chicos	100.00	%		57,203	0	0	57,203	32.83
Village Arcade-Phase II	Houston-Baytown-Sugar Land, TX	Talbots	100.00	%		28,371	0	0	28,371	32.83
Village Arcade-Phase III	Houston-Baytown-Sugar Land, TX	Banana Republic, Express, Ann Taylor	100.00	%		107,134	0	0	107,134	32.83
Village Plaza at Bunker Hill	Houston-Baytown-Sugar Land, TX	H. E. B. +, PetSmart, Babies "R" Us	57.80	%	(1)(3)	283,476	207,391	0	490,867	21.79
Westchase Center	Houston-Baytown-Sugar Land, TX	Ross Dress for Less, Randall’s +, Golfsmith, Palais Royal, Petco, Target (O.B.O.)	100.00	%		231,477	0	99,550	331,027	11.87
Westhill Village	Houston-Baytown-Sugar Land, TX	Ross Dress for Less, Office Depot, 99 Cents Only, Anna’s Linens	100.00	%		130,041	0	0	130,041	14.43
Cedar Bayou	Houston-Baytown-Sugar Land, TX	La Marque Fire Dept. (O.B.O.)	100.00	%		14,873	0	30,688	45,561	3.96
League City Plaza	Houston-Baytown-Sugar Land, TX	Kroger +	15.00	%	(1)	19,048	107,942	0	126,990	11.80
Rose-Rich	Houston-Baytown-Sugar Land, TX	Family Dollar, Palais Royal	100.00	%		103,385	0	0	103,385	9.19
Market at Town Center	Houston-Baytown-Sugar Land, TX	Old Navy, Home Goods, Marshalls, DSW Shoe Warehouse, Ross Dress for Less	100.00	%		375,547	0	0	375,547	18.91
Island Market Place	Houston-Baytown-Sugar Land, TX	Food King +	100.00	%	(4)	27,277	0	0	27,277	N/A
Palmer Plaza	Houston-Baytown-Sugar Land, TX	Dollar Tree, Big Lots (O.B.O.)	100.00	%		96,526	0	99,980	196,506	9.39
Killeen Marketplace	Killeen-Temple-Fort Hood, TX	Best Buy, Ross Dress for Less, Staples, Home Depot (O.B.O.)	100.00	%		115,203	0	135,934	251,137	12.25
North Creek Plaza	Laredo, TX	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	14.10
Plantation Centre	Laredo, TX	H. E. B. +, Blockbuster	100.00	%		134,853	0	0	134,853	13.31
Central Plaza	Lubbock, TX	Bed Bath & Beyond, Old Navy, Staples	100.00	%		151,677	0	0	151,677	11.97
Angelina Village	Lufkin, TX	Kmart, Conn's	100.00	%		248,199	0	0	248,199	8.67
Las Tiendas Plaza	McAllen-Edinburg-Pharr, TX	Target (O.B.O.), Mervyn’s (O.B.O.), Academy, Conn’s, Ross Dress for Less, Marshalls, Office Depot	50.00	%	(1)(3)	143,968	143,968	212,132	500,067	10.33
Market at Nolana	McAllen-Edinburg-Pharr, TX	Wal-Mart (O.B.O.)	50.00	%	(1)(3)	20,342	20,342	203,818	244,501	23.35
Northcross	McAllen-Edinburg-Pharr, TX	Barnes & Noble	50.00	%	(1)(3)	37,758	37,758	0	75,517	15.96
Old Navy Building	McAllen-Edinburg-Pharr, TX	Old Navy	50.00	%	(1)(3)(4)	7,500	7,500	0	15,000	N/A
South 10th St. HEB	McAllen-Edinburg-Pharr, TX	H. E. B. +	50.00	%	(1)(3)	51,851	51,851	0	103,702	11.43
Market at Sharyland Place	McAllen-Edinburg-Pharr, TX	Wal-Mart (O.B.O.), Kohl's, Dollar Tree	50.00	%	(1)(3)	56,456	56,456	188,262	301,174	20.55
Sharyland Towne Crossing	McAllen-Edinburg-Pharr, TX	Target (O.B.O.), H. E. B. +, T.J. Maxx, Petco, Office Depot, Ross Dress for Less	50.00	%	(1)(3)	176,520	176,520	131,909	484,949	13.89
Starr Plaza	Rio Grande City, TX	H. E. B. +, Beall’s, Dollar General	50.00	%	(1)(3)	88,346	88,346	0	176,693	11.46
Fiesta Trails	San Antonio, TX	H. E. B. + (O.B.O.), Target (O.B.O.), Act III Theatres, Marshalls, Office Max, SteinMart, Petco, Anna’s Linens	100.00	%		312,370	0	176,000	488,370	14.38
Oak Park Village	San Antonio, TX	H. E. B. +	30.00	%	(1)	19,286	45,001	0	64,287	9.24
Parliament Square	San Antonio, TX	Bernina New Home Sewing Center, Anytime Fitness, Family Dollar	100.00	%		64,950	0	0	64,950	9.81
Parliament Square II	San Antonio, TX	Incredible Pizza	100.00	%		54,541	0	0	54,541	N/A
Thousand Oaks	San Antonio, TX	H. E. B. +, Beall’s, Tuesday Morning	15.00	%	(1)	24,432	138,450	0	162,882	10.59
Valley View	San Antonio, TX	Marshalls, Blockbuster, Dollar Tree	100.00	%		91,544	0	0	91,544	10.59
Broadway	Tyler, TX	SteinMart	100.00	%		60,400	0	0	60,400	7.16
Texas Total:	# of Properties: 99					9,210,617	3,545,401	2,625,499	15,381,517
Utah
Alpine Valley Center	Provo-Orem, UT	Super Target + (O.B.O.), Old Navy, Justice, Dollar Tree, Office Depot	33.30	%	(1)(3)	30,382	60,772	133,500	224,654	16.17
Taylorsville Town Center	Salt Lake City, UT	Fresh Market + (O.B.O.), Rite Aid	100.00	%		94,157	0	40,057	134,214	15.36
West Jordan Town Center	Salt Lake City, UT	Office Depot, Target (O.B.O.), Petco	100.00	%		182,099	0	122,800	304,899	12.44

Page 38

 

Weingarten Realty Investors
Property Listing
As of December 31, 2010
						Gross Leasable Area
										Average
			WRI				Joint			Base
			Owned		Foot	WRI	Venture	Owned by		Rent
Center	CBSA	Anchors	%		Notes	Owned	Share	Other	Total	(ABR)
Utah Total:	# of Properties: 3					306,638	60,772	296,357	663,767
Washington
Mukilteo Speedway Center	Seattle-Tacoma-Bellevue, WA	Dollar Tree	20.00	%	(1)(3)	18,055	72,218	0	90,273	15.93
Meridian Town Center	Seattle-Tacoma-Bellevue, WA	Jo-Ann Fabric & Craft Store, Safeway + (O.B.O.)	20.00	%	(1)(3)	15,533	62,133	65,346	143,012	18.86
South Hill Center	Seattle-Tacoma-Bellevue, WA	Best Buy, Bed Bath & Beyond, Ross Dress for Less	20.00	%	(1)(3)	26,802	107,208	0	134,010	16.09
Rainer Square Plaza	Seattle-Tacoma-Bellevue, WA	Safeway +, Ross Dress for Less	20.00	%	(1)(3)	21,485	85,938	0	107,423	18.35
Washington Total:	# of Properties: 4					81,875	327,497	65,346	474,718
Industrial
Operating Properties
California
Siempre Viva Business Park	San Diego-Carlsbad et al, CA	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	Lakeland, FL	Rooms to Go, Publix, Star Distribution, Chep USA	100.00	%		600,000	0	0	600,000
Lakeland Interstate Industrial Park I	Lakeland, FL	Carolina Logistics Services, Inc., Acuity Specialty Products Group, Inc.,	100.00	%		168,400	0	0	168,400
1801 Massaro	Tampa-St. Petersburg et al, FL	MiTek Industries, Inc.,	100.00	%		159,000	0	0	159,000
Hopewell Industrial Center	Tampa-St. Petersburg et al, FL	Parts Depot, Inc., South Dade Automotive	100.00	%		224,483	0	0	224,483
Tampa East Industrial Portfolio	Tampa-St. Petersburg et al, FL	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-Sandy Springs et al, GA	Georgia Aquarium, Inc., Cardinal Logistics Mgmt Co.	100.00	%		120,200	0	0	120,200
Atlanta Industrial Park II & VI	Atlanta-Sandy Springs et al, GA	Target Container Co., Sanderson Industries, Inc., GSC Packaging	100.00	%		382,120	0	0	382,120
Atlanta Industrial Parkway	Atlanta-Sandy Springs et al, GA	Vacant	100.00	%		50,000	0	0	50,000
Riverview Distribution Center	Atlanta-Sandy Springs et al, GA	Chep USA	100.00	%		265,200	0	0	265,200
Sears Logistics	Atlanta-Sandy Springs et al, GA	Sears Logistics Services	20.00	%	(1)(3)	80,511	322,043	0	402,554
SouthPark 3075	Atlanta-Sandy Springs et al, GA	American Tire Distributors	100.00	%		234,525	0	0	234,525
Southside Industrial Parkway	Atlanta-Sandy Springs et al, GA	Mission Produce	100.00	%		72,000	0	0	72,000
Westlake 125	Atlanta-Sandy Springs et al, GA	Maxwell Chase Technologies, LLC, Nissei ASB Company, Berlin	100.00	%		154,464	0	0	154,464
Kennesaw 75	Atlanta-Sandy Springs et al, GA	Trane, Clorox Services Company, Builders Specialties, LLC	100.00	%		178,467	0	0	178,467
6485 Crescent Drive	Atlanta-Sandy Springs et al, GA	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	Memphis, TN-MS-AR	CMI Freight Transportation, Sergeant's Pet Care Products	20.00	%	(1)(3)	31,770	127,079	0	158,849
Outland Business Center	Memphis, TN-MS-AR	Vistar Corporation, Kuehne & Nagel, TricorBraun	20.00	%	(1)(3)	82,088	328,350	0	410,438
Southpoint I & II	Memphis, TN-MS-AR	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
Braker 2 Business Center	Austin-Round Rock, TX	Home Team Pest Defense, MJC Electronics Corporation	100.00	%		27,359	0	0	27,359
Corporate Center Park I and II	Austin-Round Rock, TX	Phoenix Lamar Corp, CenTex Independent Electrical, Schindler Elevator	100.00	%		120,613	0	0	120,613
Oak Hills Industrial Park	Austin-Round Rock, TX	Terracon, Inc., Illumitex	100.00	%		89,858	0	0	89,858
Rutland 10 Business Center	Austin-Round Rock, TX	Media Event Concepts, Inc., Stellar Micro Devices	100.00	%		54,000	0	0	54,000
Southpark A,B,C	Austin-Round Rock, TX	Texas EZ Pawn	100.00	%		78,276	0	0	78,276
Southpoint Service Center	Austin-Round Rock, TX	Green Building Energy Services	100.00	%		57,697	0	0	57,697

Page 39

 

Weingarten Realty Investors
Property Listing
As of December 31, 2010
						Gross Leasable Area
										Average
			WRI				Joint			Base
			Owned		Foot	WRI	Venture	Owned by		Rent
Center	CBSA	Anchors	%		Notes	Owned	Share	Other	Total	(ABR)
Midpoint I-20 Distribution Center	Dallas-Fort Worth-Arlington, TX	Tred-It Tire & Wheel, Amercian Medical Response	100.00	%		253,165	0	0	253,165
Randol Mill Place	Dallas-Fort Worth-Arlington, TX	Protech Electronics, Inc., Premier Products	100.00	%		54,639	0	0	54,639
1625 Diplomat Drive	Dallas-Fort Worth-Arlington, TX	Rooftop Systems, Inc.	100.00	%		106,140	0	0	106,140
Midway Business Center	Dallas-Fort Worth-Arlington, TX	Luxury of Leather, Jet Pay, LLC	100.00	%		141,246	0	0	141,246
Manana Office Center	Dallas-Fort Worth-Arlington, TX	Dave & Busters, All-Tex Supply	100.00	%		223,128	0	0	223,128
Newkirk Service Center	Dallas-Fort Worth-Arlington, TX	Restaurant Technologies, Corporate Meeting Services	100.00	%		105,892	0	0	105,892
Northeast Crossing Office/Service Center	Dallas-Fort Worth-Arlington, TX	ASCOA - Ambulatory Surgical Center	100.00	%		78,700	0	0	78,700
Redbird Distribution Center	Dallas-Fort Worth-Arlington, TX	Texwood Industries, L.P.	100.00	%		110,839	0	0	110,839
Regal Distribution Center	Dallas-Fort Worth-Arlington, TX	General Insulation Company, 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	Dallas-Fort Worth-Arlington, TX	Weir’s Furniture Village, Inc., Facility Interiors, Inc.	100.00	%		264,582	0	0	264,582
McGraw Hill Distribution Center	Dallas-Fort Worth-Arlington, TX	McGraw Hill Companies, Inc.	100.00	%		417,938	0	0	417,938
Freeport Commerce Center	Dallas-Fort Worth-Arlington, TX	McGraw Hill Companies, Inc., TKS (U.S.A.), Inc.	100.00	%		50,590	0	0	50,590
Central Plano Business Park	Dallas-Fort Worth-Arlington, TX	CK Management, Inc., Underwriters Laboratories, Motion Dynamics	100.00	%		137,785	0	0	137,785
Jupiter Business Park	Dallas-Fort Worth-Arlington, TX	Ericsson Radio Systems	100.00	%		189,532	0	0	189,532
Jupiter Service Center	Dallas-Fort Worth-Arlington, TX	Interceramic Tile, Gemaire Distributors	100.00	%		78,480	0	0	78,480
Sherman Plaza Business Park	Dallas-Fort Worth-Arlington, TX	Weingarten Realty Regional Office, Quadravox, Inc.	100.00	%		101,140	0	0	101,140
610 and 11th St. Warehouse	Houston-Baytown-Sugar Land, TX	Iron Mountain	20.00	%	(1)(3)	48,728	194,914	0	243,642
610 and 11th St. Warehouse	Houston-Baytown-Sugar Land, TX	Prefco Corp.	100.00	%		104,975	0	0	104,975
610/288 Business Park	Houston-Baytown-Sugar Land, TX	Palmer Logistics, Dupuy Storage	20.00	%	(1)(3)	59,060	236,240	0	295,300
Beltway 8 Business Park	Houston-Baytown-Sugar Land, TX	Premier Home Technology	100.00	%		157,498	0	0	157,498
Blankenship Building	Houston-Baytown-Sugar Land, TX	Star Displays	100.00	%		59,718	0	0	59,718
Brookhollow Business Center	Houston-Baytown-Sugar Land, TX	YMCA of Greater Houston, Surgeon's Management, Houston Digital Instruments	100.00	%		133,970	0	0	133,970
Claywood Industrial Park	Houston-Baytown-Sugar Land, TX	Pioneer Distribution Center, Packaging Corporation of America	100.00	%		101,125	0	200,850	301,975
Crestview	Houston-Baytown-Sugar Land, TX	Creative Connection	100.00	%		8,970	0	0	8,970
Crosspoint Warehouse	Houston-Baytown-Sugar Land, TX	Foam Enterprises, LLC	100.00	%		72,505	0	0	72,505
Houston Cold Storage Warehouse	Houston-Baytown-Sugar Land, TX	Houston Central Industries, Inc.	100.00	%		128,752	0	0	128,752
Kempwood Industrial	Houston-Baytown-Sugar Land, TX	Pioneer Contract Services	100.00	%		113,218	0	0	113,218
Kempwood Industrial	Houston-Baytown-Sugar Land, TX	Pioneer Contract Services, Veritas Geophysical Corporation	20.00	%	(1)(3)	43,898	175,591	0	219,489
Lathrop Warehouse	Houston-Baytown-Sugar Land, TX	United D.C., Inc.	20.00	%	(1)(3)	50,378	201,512	0	251,890
Navigation Business Park	Houston-Baytown-Sugar Land, TX	Genesis Worldwide Logistics, Synergy Cables USA	20.00	%	(1)(3)	47,603	190,411	0	238,014
Northway Park II	Houston-Baytown-Sugar Land, TX	Jet Lube, Inc., South Texas Bolt & Fitting, Custom Polymers	20.00	%	(1)(3)	60,697	242,786	0	303,483
Railwood F	Houston-Baytown-Sugar Land, TX	Shell Oil Company	20.00	%	(1)(3)	60,000	240,000	0	300,000
Railwood G	Houston-Baytown-Sugar Land, TX	Global Stainless Supply, Inc.	50.00	%	(1)(3)	105,425	105,425	0	210,850
Railwood Industrial Park	Houston-Baytown-Sugar Land, TX	Distribution International SW, AJ Logistics, YRC Logistics Services	100.00	%		402,680	0	0	402,680
Railwood Industrial Park	Houston-Baytown-Sugar Land, TX	Val-Fit Inc., Georgia Gulf Chemicals & Vinyl	20.00	%	(1)(3)	99,531	398,125	0	497,656
Southport Business Park 5	Houston-Baytown-Sugar Land, TX	Surface Preparation - Texas, LLC, Birch Plastics, Soltex Inc.	100.00	%		160,011	0	0	160,011
Stonecrest Business Center	Houston-Baytown-Sugar Land, TX	Alpha Omega Caseworks	100.00	%		110,861	0	0	110,861
Town & Country Commerce Center	Houston-Baytown-Sugar Land, TX	Arizona Tile, Seitel	100.00	%		206,056	0	0	206,056
West 10 Business Center II	Houston-Baytown-Sugar Land, TX	Summers Group, Inc.	100.00	%		82,658	0	0	82,658
West Loop Commerce Center	Houston-Baytown-Sugar Land, TX	Inter-Tel Technologies	100.00	%		34,256	0	0	34,256
West-10 Business Center	Houston-Baytown-Sugar Land, TX	Network-Interstate Co.	100.00	%		99,883	0	0	99,883
Westgate Service Center	Houston-Baytown-Sugar Land, TX	Welltec, Inc., 3M Company, CAS Holdings, Inc.	100.00	%		123,399	0	0	123,399
Freeport Business Center	Houston-Baytown-Sugar Land, TX	Yokagawa, Life-Tech, Gurwitch Industries, PSI Group	100.00	%		251,645	0	0	251,645
Crosswinds Distribution Center	San Antonio, TX	American Tile Supply	100.00	%		142,276	0	0	142,276
Interwest Business Park	San Antonio, TX	All-American Sports, Gell Service Company, Inc., Goodman Manufacturing Company, L.P.	100.00	%		219,244	0	0	219,244
Isom Business Park	San Antonio, TX	Gate Gourmet, Wells Fargo Bank, Colour Solutions	100.00	%		175,200	0	0	175,200
O'Connor Road Business Park	San Antonio, TX	Ingersoll Rand, TD Industries	100.00	%		150,091	0	0	150,091

Page 40

Weingarten Realty Investors
Property Listing
As of December 31, 2010
						Gross Leasable Area
										Average
			WRI				Joint			Base
			Owned		Foot	WRI	Venture	Owned by		Rent
Center	CBSA	Anchors	%		Notes	Owned	Share	Other	Total	(ABR)
Texas Total:	# of Properties: 51					6,558,469	1,985,004	200,850	8,744,323
Virginia
Enterchange at Northlake A	Richmond, VA	FedEx, Owens & Minor	100.00	%		215,191	0	0	215,191
Enterchange at Northlake C	Richmond, VA	International Paper, Techturn, The Kane Company, Wholesale Millwork	20.00	%	(1)(3)	58,623	234,492	0	293,115
Enterchange at Meadowville	Richmond, VA	United States Army	20.00	%	(1)(3)	45,362	181,447	0	226,809
Enterchange at Walthall A & B	Richmond, VA	Mazda Motors of America, Inc., Xymid LLC	20.00	%	(1)(3)	121,336	485,343	0	606,679
Enterchange at Walthall C	Richmond, VA	PSS World Medical, Hill Phoenix, Sunrise Construction	20.00	%	(1)(3)	52,384	209,538	0	261,922
Enterchange at Walthall D	Richmond, VA	Saddle Creek, Recall Total Info Manager, Jim's Formal Wear	100.00	%		287,318	0	0	287,318
Interport Business Center A	Richmond, VA	Anderson News, LLC, Three Way, Wyeth-Ayerst Pharmaceuticals	20.00	%	(1)(3)	88,204	352,814	0	441,018
Interport Business Center B	Richmond, VA	Mid South Building Supply, Inc., EGL Eagle Global Logistics, LP, Commonwealth of Virginia Department of Taxation	20.00	%	(1)(3)	23,600	94,400	0	118,000
Interport Business Center C	Richmond, VA	Sears Home Improvement Products, Inc., Ferguson Enterprise, Inc.	20.00	%	(1)(3)	10,977	43,908	0	54,885
Virginia Total:	# of Properties: 9					902,995	1,601,942	0	2,504,937
Other
Operating Properties
Arizona
Arcadia Biltmore Plaza	Phoenix-Mesa-Scottsdale, AZ	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	Houston-Baytown-Sugar Land, TX	State of Texas, Weingarten Realty Regional Office	100.00	%		139,325	0	0	139,325
Citadel Plaza	Houston-Baytown-Sugar Land, TX	Weingarten Realty Investors Corporate Office	100.00	%		121,000	0	0	121,000
Texas Total:	# of Properties: 2					260,325	0	0	260,325
Total Operating Properties	# of Properties: 383					43,893,148	14,708,376	10,679,835	69,274,286
New Development
Colorado
River Point at Sheridan	Denver-Aurora, CO		50.00	%	(1)(2)	51,448	51,448	331,174	434,070
The Gardens on Havana	Denver-Aurora, CO		39.80	%	(1)(2)(3)	319,096	482,855	143,697	945,648
Colorado Total:	# of Properties: 2					370,544	534,303	474,871	1,379,718
Florida
Clermont Landing	Orlando, FL		55.00	%	(1)(2)(3)	75,323	61,628	104,175	241,126
Florida Total:	# of Properties: 1					75,323	61,628	104,175	241,126
North Carolina
Surf City Crossing	Wilmington, NC		100.00	%	(2)	53,776	0	0	53,776
Waterford Village	Wilmington, NC		100.00	%	(2)	79,139	0	0	79,139
North Carolina Total:	# of Properties: 2					132,915	0	0	132,915
Tennessee
Ridgeway Trace	Memphis, TN-MS-AR		100.00	%	(2)	113,771	0	137,740	251,511
Tennessee Total:	# of Properties: 1					113,771	0	137,740	251,511
Texas

Page 41

 

Weingarten Realty Investors
Property Listing
As of December 31, 2010
						Gross Leasable Area
										Average
			WRI				Joint			Base
			Owned		Foot	WRI	Venture	Owned by		Rent
Center	CBSA	Anchors	%		Notes	Owned	Share	Other	Total	(ABR)
North Towne Plaza	Brownsville-Harlingen, TX		100.00	%	(2)	11,200	0	117,000	128,200
Tomball Marketplace	Houston-Baytown-Sugar Land, TX		100.00	%	(2)	15,341	0	85,000	100,341
Westwood Center	San Antonio, TX		100.00	%	(2)	29,080	0	0	29,080
Texas Total:	# of Properties: 3					55,621	0	202,000	257,621
Total New Developments	# of Properties: 9					748,174	595,931	918,786	2,262,891
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 December 31, 2010
					Gross Leasable Area
									Average
			WRI			Joint			Base
			Owned	Foot	WRI	Venture	Owned by		Rent
Center	CBSA	Anchors	%	Notes	Owned	Share	Other	Total	(ABR)
Texas
U.S. 77 and 83 at SHFM 802, Brownsville								954,835
Rock Prairie Rd. at Hwy. 6, College Station								394,218
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:								17,003,646
Utah
South 300 West & West Paxton Avenue, Salt Lake City								324,958
Utah Total:								324,958
Total Unimproved Land								33,088,611

Page 43

Other Topics of Interest

Weingarten Realty Investors
Supplemental Leasing Information at Pro rata Share
(in thousands)
					% of
		# of Units	Rental Revenue		Rental Revenue		Square Feet
Blockbuster Summary
	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
Borders Summary (includes 1 Walden Books)
	As of 12/31/10	6	2,519		0.45	%		125
	Lease Expiration 1/31/11	-1	-957		-0.17	%		-40
	Announced Store Closing	-1	-136		-0.02	%		-8
	Net remaining units	4	1,426		0.25	%		77
Percentage of 2011 Retail Renewals Completed
								% of 2011
								Renewals
		Renewed SF	Expiring SF (1)		Total			Completed
	1Q 2011	1,118	114		1,232			91	%
	2Q 2011	411	223		634			65	%
	3Q 2011	208	175		383			54	%
	4Q 2011	61	239		300			20	%
	Total 2011	1,798	751		2,549			71	%
(1) Excludes tenants with options that are exercisable in 2011
Ground Lease Summary
		Number	WRI		WRI			WRI
		of	Share		Share			Share ABR
	Use Description	Leases	GLA		ABR			PSF ($)
	Home Improvement	3	327,269	$	1,714,878		$	5.24
	Discount Department Store	16	1,160,091		4,978,330			4.29
	Full-Service Restaurant	56	232,830		4,185,631			17.98
	Fast Food	75	178,892		4,094,328			22.89
	Bank	34	90,232		2,366,753			26.23
	Supermarket	25	976,081		5,687,752			5.83
	Pharmacy	6	105,176		837,874			7.97
	Theater	2	75,789		480,440			6.34
	Gas Station	10	18,843		691,565			36.70
	Other Hardline Retailers	3	80,221		426,028			5.31
	Other	20	150,853		1,356,998			9.00
	Total	250	3,396,277	$	26,820,577		$	7.90

Page 45

Weingarten Realty Investors

2011 Business Plan Assumptions

Finance

· FFO per Share Guidance:

· Recurring FFO Per Share:  $1.72 - $1.82

· Expected loss on Sheridan Bond Reissuance (as previously disclosed) $.13 - $.15

· No anticipated common or preferred share offerings.

Investment Activity

· Acquisitions:  $125 million to $175 million which is expected to be back-loaded in the third and fourth quarters.

· Dispositions:  $75 million to $ 125 million which is expected to be back-loaded in the third and fourth quarters.

· New Development Investment:  $34 million which is spread ratably over the year.

· Merchant Development:  No merchant development gains anticipated for the year.

Operations

· Same Property Net Operating Income:  Flat to +1%

· Occupancy:  Average retail occupancy anticipated to be 93%. Total occupancy 92%.

· Retail Rental Growth:  -4% to flat

· New Development NOI:  Anticipate $3.0 million - $4.0 million of incremental net operating income to come online in 2011.

Page 46