EX-99.1 2 wri-20130630x8kpressreleas.htm EXHIBIT 99.1 WRI-2013.06.30-8K Press Release Ex-99.1


Exhibit 99.1





 
 
 
Table of Contents
Page
Quarterly Earnings Press Release
i - iv
Company Information
1
 
 
 
Financial Summary
 
 
Condensed Consolidated Statements of Income
3
 
Condensed Consolidated Balance Sheets
4
 
Funds From Operations
5
 
Supplemental Income Statement Detail
6
 
Supplemental Balance Sheet Detail
7
 
Capitalization and Debt Coverage Ratios
8
 
Guidance
9
 
 
 
Investment Activity
 
 
New Development Properties
11
 
Land Held for Development
12
 
Disposition and Acquisition Summary
13
 
Capital Expenditures
14
 
 
 
Summary of Debt
 
 
Debt Information
16
 
Schedule of Maturities
17
 
 
 
Joint Ventures
 
 
Unconsolidated Joint Venture Financial Statements at 100%
19
 
Unconsolidated Joint Venture Financial Statements at Pro rata Share
20
 
Investments in Unconsolidated Real Estate Joint Ventures & Partnerships
21
 
Unconsolidated Joint Venture Mortgage Debt Information
22
 
 
 
Portfolio Summary
 
 
Tenant Diversification by Percent of Rental Revenues
24
 
Portfolio Operating Information
25 - 26
 
Total Net Operating Income by Geographic Region
27
 
 
 
Property Listing
 
 
Summary Property Listing
29
 
Property Listing
30 - 40
 
 
 
 
 
 
 
 
 
Corporate Profile
 
 
 
 
Weingarten Realty Investors is a real estate investment trust organized under the Texas Business Organizations Code that, through its predecessor entity, began the ownership and development of shopping centers and other commercial real estate in 1948. As of June 30, 2013, we owned or operated under long-term leases, interests in 281 properties which are located in 21 states that span the United States from coast to coast. These properties represent approximately 51.5 million square feet of which our interests in these properties aggregated approximately 30.8 million square feet of leasable area. Our properties were 94.2% leased as of June 30, 2013, and historically our portfolio occupancy rate has never been below 90%.
 
 
 
 
 
www.weingarten.com
 



2600 Citadel Plaza Drive
P.O. Box 924133
Houston, Texas 77292-4133

NEWS RELEASE

Information: Michelle Wiggs, Phone: (713) 866-6050

WEINGARTEN REALTY INCREASES SAME PROPERTY
NOI BY 5.0% AND INCREASES FFO GUIDANCE
HOUSTON, July 31, 2013 (BUSINESS WIRE) -- Weingarten Realty (NYSE: WRI) announced today the results of its operations for the quarter ended June 30, 2013. The supplemental financial package with additional information can be found on the Company's website under the Investor Relations tab.
Second Quarter Operating and Financial Highlights
Recurring Funds from Operations ("FFO") for the quarter increased to $0.49 per diluted share from $0.47 per diluted share a year ago;
Same Property Net Operating Income increased 5.0% over the same quarter of the prior year;
Occupancy increased 0.5% over the prior quarter to 94.2% and 0.4% over the prior quarter to 88.6% for spaces less than 10,000 square feet (referred to as “small shop space”);
Acquisitions totaling $71 million and dispositions totaling $108 million were completed since the end of the first quarter; and,
6.50% Series F Cumulative Redeemable Preferred Shares totaling $200 million were redeemed.

Financial Results and Preferred Redemption
The Company reported net income attributable to common shareholders of $45.4 million or $0.37 per diluted share (hereinafter “per share”) for the second quarter of 2013, as compared to $22.6 million or $0.19 per share for the same period in 2012. Included in these operating results for 2013 was a non-cash write-off of preferred redemption costs of $0.13 per share related to the redemption of a portion of the Company's Series F preferred shares. Included in 2012 were non-cash impairment charges of $0.21 per share. Net income for the six months ended June 30, 2013 was $79.1 million or $0.65 per share compared to $34.9 million or $0.29 per share for 2012.
Reported FFO was $46.1 million or $0.37 per share for the second quarter of 2013 compared to $55.1 million or $0.45 per share for 2012. Included in the 2013 amount was the write-off of preferred redemption costs of $0.13 per share and excluded from 2012 amount are impairments of $0.20 per share, as they relate to operating properties. Year-to-date, Reported FFO was $112.1 million or $0.90 per share for 2013 compared to $111.4 million or $0.90 per share for 2012.

i




  
Recurring FFO for the quarter ended June 30, 2013 was $0.49 per share or $61.4 million. For the same quarter last year, Recurring FFO was $0.47 per share or $57.4 million. The increase in Recurring FFO over the prior year was primarily due to increases in net operating income from our existing portfolio, reduced interest expense from favorable debt refinancings and reduced preferred share dividends due to redemptions. These increases were partially offset by the impact of the Company's disposition program. For the six months, Recurring FFO was $120.3 million or $0.97 per share for 2013 compared to $114.2 million or $0.93 per share for 2012.
A reconciliation between net income attributable to common shareholders to Reported FFO and Recurring FFO is listed on page 5 of the Company's supplemental package.
On June 5, 2013, the Company completed the redemption of $200 million of its 6.50% Series F Cumulative Redeemable Preferred Shares, leaving $150 million of these Series F shares outstanding. As a result of the transaction, preferred redemption costs totaling $15.9 million were expensed.
Operating Results
Same Property Net Operating Income ("SPNOI") increased by a strong 5.0% for the quarter primarily due to increased occupancy and a reduction in merchant fallouts. Year-to-date, SPNOI increased 4.4%.

Occupancy increased to 94.2% in the second quarter from 93.7% in the prior quarter and by 0.8% from 93.4% in the second quarter of 2012. Occupancy of small shop space increased by 0.4% from the prior quarter and 0.8% from the same quarter of the prior year to 88.6%.
The Company produced strong leasing results during the second quarter with 377 new leases and renewals, totaling 1.4 million square feet. These transactions were comprised of 156 new leases and 221 renewals, which represent annualized revenues of $9.3 million and $11.3 million, respectively. The average rental rate increase on new leases signed during the quarter was an exceptional 19.3%.
“This was a truly outstanding quarter for operations. Both the 5.0% increase in Same Property NOI and the jump in occupancy up to 94.2% are clear reflections of our high quality portfolio and the benefits of a best-in-class operating platform manned by a great team of associates,” said Johnny Hendrix, Executive Vice President and Chief Operating Officer.

Capital Recycling

During the quarter, the Company sold eleven non-core properties, five of which were owned in various joint ventures, and three land parcels for $108.2 million. As communicated previously, the Company is focused on selling assets which do not meet

ii







its current investment requirements and redeploying that capital into higher quality assets in its target markets. Year-to-date, the Company has sold $123.9 million in assets.

During the quarter, the Company completed the acquisition of two outstanding shopping centers. Queen Anne Marketplace in Seattle, Washington is a 66,000 square foot shopping center anchored by Metropolitan Market, an upscale neighborhood grocer operating in a densely populated, high barrier-to-entry urban infill location. The three-mile trade area enjoys a population of over 200,000 people with over 68% holding college degrees. This was the first property purchased in a joint venture between the Company and Bouwinvest in which Weingarten will hold a 51% interest. The Company also acquired Independence Plaza, a 324,000 square foot center in Laredo, Texas. This shopping center features a top performing H-E-B, T.J. Maxx, Ross, Hobby Lobby, Petco and Ulta Beauty. Independence Plaza is 97% leased and generates approximately 80% of its income from these national retailers. The Laredo MSA has the largest job growth forecast in the nation over the next 10 years and is influenced by the Eagle Ford Shale and an incredible pent up demand from millions of people in Northern Mexico who have very limited shopping opportunities. Year-to-date, the Company has invested $89.3 million in quality shopping centers in great markets.

“I am extremely pleased with the results of our capital recycling program this quarter. Our very active disposition program generated more than sufficient capital to complete these high quality investments, which are great additions to our already strong portfolio,” said Drew Alexander, President and Chief Executive Officer.

2013 Guidance

The Company is increasing Recurring FFO guidance and revising certain other guidance metrics as follows:

 
Original Guidance
Revised Guidance
Recurring FFO Per Diluted Share
$1.84 - $1.90
$1.89 - $1.93
Same Property NOI
+2% to +3%
+3% to +3.5%
Acquisitions
$175 - $225 million
$100 - $150 million
New Development
$25 - $75 million
$15 - $50 million
Dispositions
$200 - $300 million
$250 - $350 million

Dividends

The Board of Trust Managers declared a quarterly cash dividend of $0.305 per common share payable on September 13, 2013 to shareholders of record on September 5, 2013.

The Board of Trust Managers also declared dividends on the Company's 6.50% Series F Cumulative Redeemable Preferred Shares (NYSE:WRIPrF) of $0.40625 per share for the quarter payable on September 13, 2013 to shareholders of record on September 5, 2013.

iii







Conference Call Information

The Company also announced that it will host a live webcast of its quarterly conference call on August 1, 2013 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 (888) 771-4371 (conference ID # 32913549). A replay will be available through the Company's website starting approximately two hours following the live call.

About Weingarten Realty Investors

Weingarten Realty Investors (NYSE: WRI) is a shopping center owner, manager and developer.  At June 30, 2013, 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 281 properties which are located in 21 states spanning the country from coast to coast. These properties represent approximately 51.5 million square feet of which our interests in these properties aggregated approximately 30.8 million square feet of leasable area. 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.


iv



Weingarten Realty Investors
Company Information



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 F Preferred Shares
WRI-PF
8.1% 2019 Notes
WRD

Forward-Looking Statements
This supplement, together with other statements and information publicly disseminated by us, contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and include this statement for purposes of complying with these safe harbor provisions. These forward-looking statements relate to the company’s intentions, beliefs, expectations or projections of the future. It is important to note that the company’s actual results could differ materially from those projected in such forward-looking statements. Factors which may cause actual results to differ materially from current expectations include, but are not limited to: (i) disruptions in financial markets, (ii) general economic and local real estate conditions, (iii) the inability of major tenants to continue paying their rent obligations due to bankruptcy, insolvency or general downturn in their business, (iv) financing risks, such as the inability to obtain equity, debt, or other sources of financing on favorable terms, (v) changes in governmental laws and regulations, (vi) the level and volatility of interest rates, (vii) the availability of suitable acquisition opportunities, (viii) the ability to dispose properties, (ix) changes in expected development activity, (x) increases in operating costs, (xi) tax matters, including failure to qualify as a real estate investment trust, and (xii) investments through real estate joint ventures and partnerships, which 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 (“NAREIT”) defines funds from operations (“FFO”) as net income (loss) attributable to common shareholders computed in accordance with generally accepted accounting principles (“GAAP”), excluding extraordinary items and gains or losses from sales of operating real estate assets and interests in real estate equity investments, plus depreciation and amortization of operating properties and impairment of depreciable real estate and in substance real estate equity investments, 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
June 30,
 
Six Months Ended
June 30,
 
Twelve Months Ended December 31,
 
2013
 
2012
 
2013
 
2012
 
2012
 
2011
 
2010
 
2009
Revenues:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Rentals, net
$
127,828

 
$
116,013

 
$
251,890

 
$
227,951

 
$
473,022

 
$
445,943

 
$
439,297

 
$
451,170

Other
3,749

 
2,584

 
6,389

 
5,262

 
12,104

 
13,908

 
12,382

 
15,136

Total
131,577

 
118,597

 
258,279

 
233,213

 
485,126

 
459,851

 
451,679

 
466,306

Expenses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization
38,190

 
32,465

 
76,895

 
64,731

 
136,902

 
126,897

 
121,011

 
118,702

Operating
25,003

 
22,906

 
49,452

 
44,520

 
94,442

 
86,518

 
87,507

 
84,931

Real estate taxes, net
15,444

 
13,976

 
30,104

 
27,268

 
55,827

 
53,343

 
50,939

 
55,996

Impairment loss
165

 
2,536

 
221

 
9,388

 
9,585

 
49,671

 
33,317

 
34,983

General and administrative
6,194

 
6,378

 
12,861

 
14,685

 
28,551

 
25,474

 
24,940

 
25,859

Total
84,996

 
78,261

 
169,533

 
160,592

 
325,307

 
341,903

 
317,714

 
320,471

Operating Income
46,581

 
40,336

 
88,746

 
72,621

 
159,819

 
117,948

 
133,965

 
145,835

Interest Expense, net
(28,772
)
 
(28,628
)
 
(46,175
)
 
(59,359
)
 
(113,585
)
 
(137,414
)
 
(142,699
)
 
(148,443
)
Interest and Other Income, net
2,098

 
582

 
3,924

 
2,968

 
6,048

 
5,062

 
9,823

 
11,421

Gain on Sale of Real Estate Joint Venture and Partnership Interests
83

 

 
11,592

 
5,562

 
14,203

 

 

 

Equity in Earnings (Losses) of Real Estate Joint Ventures
 and Partnerships, net (a)
4,729

 
(15,695
)
 
9,342

 
(11,620
)
 
(1,558
)
 
7,834

 
12,889

 
5,548

Gain on Acquisition

 

 

 

 
1,869

 

 

 

(Loss) Gain on Redemption of Convertible Senior Unsecured Notes

 

 

 

 

 

 
(135
)
 
25,311

Gain on Land and Merchant Development Sales

 

 

 

 

 

 

 
17,956

(Provision) Benefit for Income Taxes
(197
)
 
279

 
(33
)
 
313

 
(7
)
 
(74
)
 
184

 
(5,911
)
Income (Loss) from Continuing Operations
24,522

 
(3,126
)
 
67,396

 
10,485

 
66,789

 
(6,644
)
 
14,027

 
51,717

Operating Income from Discontinued Operations
1,379

 
4,539

 
3,180

 
9,492

 
16,009

 
11,431

 
34,113

 
42,528

Gain on Sale of Property from Discontinued Operations
78,012

 
31,264

 
78,012

 
34,898

 
68,589

 
10,273

 
1,093

 
55,956

Income from Discontinued Operations
79,391

 
35,803

 
81,192

 
44,390

 
84,598

 
21,704

 
35,206

 
98,484

Gain on Sale of Property
265

 
84

 
407

 
524

 
1,034

 
1,679

 
2,005

 
25,075

Net Income
104,178

 
32,761

 
148,995

 
55,399

 
152,421

 
16,739

 
51,238

 
175,276

Less: Net Income Attributable to Noncontrolling Interests
(37,742
)
 
(1,342
)
 
(39,209
)
 
(2,783
)
 
(5,781
)
 
(1,118
)
 
(5,032
)
 
(4,174
)
Net Income Adjusted for Noncontrolling Interests
66,436

 
31,419

 
109,786

 
52,616

 
146,640

 
15,621

 
46,206

 
171,102

Dividends on Preferred Shares
(5,313
)
 
(8,869
)
 
(12,753
)
 
(17,738
)
 
(34,930
)
 
(35,476
)
 
(35,476
)
 
(35,476
)
Redemption Costs of Preferred Shares
(15,702
)
 

 
(17,944
)
 

 
(2,500
)
 

 

 

Net Income (Loss) Attributable to Common Shareholders
$
45,421

 
$
22,550

 
$
79,089

 
$
34,878

 
$
109,210

 
$
(19,855
)
 
$
10,730

 
$
135,626

Earnings Per Common Share - Basic
$
0.37

 
$
0.19

 
$
0.65

 
$
0.29

 
$
0.90

 
$
(0.17
)
 
$
0.09

 
$
1.24

Earnings Per Common Share - Diluted
$
0.37

 
$
0.19

 
$
0.65

 
$
0.29

 
$
0.90

 
$
(0.17
)
 
$
0.09

 
$
1.23

(a)
See Page 20 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)


 
June 30,
2013
 
December 31,
2012
ASSETS
 
 
 
Property
$
4,373,891

 
$
4,399,850

Accumulated Depreciation
(1,052,585
)
 
(1,040,839
)
Property Held for Sale, net
8,698

 

Property, net
3,330,004

 
3,359,011

 
 
 
 
Investment in Real Estate Joint Ventures and Partnerships, net (a)
285,666

 
289,049

Total
3,615,670

 
3,648,060

 
 
 
 
Notes Receivable from Real Estate Joint Ventures and Partnerships
85,004

 
89,776

Unamortized Debt and Lease Costs, net
140,938

 
135,783

Accrued Rent and Accounts Receivable (net of allowance for doubtful
      accounts of $11,071 in 2013 and $12,127 in 2012)
70,572

 
79,540

Cash and Cash Equivalents
23,374

 
19,604

Restricted Deposits and Mortgage Escrows
9,490

 
44,096

Other, net
174,266

 
167,925

Total Assets
$
4,119,314

 
$
4,184,784

 
 
 
 
LIABILITIES AND EQUITY
 
 
 
Debt, net
$
2,350,762

 
$
2,204,030

Accounts Payable and Accrued Expenses
107,173

 
119,699

Other, net
110,029

 
120,900

Total Liabilities
2,567,964

 
2,444,629

 
 
 
 
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; no shares outstanding in 2013 and 100 shares outstanding
in 2012; liquidation preference $75,000 in 2012

 
3

6.5% Series F cumulative redeemable preferred shares of beneficial interest;
140 shares issued; 60 shares outstanding in 2013 and 140 shares outstanding
in 2012; liquidation preference $150,000 in 2013 and $350,000 in 2012
2

 
4

Common Shares of Beneficial Interest - par value, $.03 per share;
 shares authorized: 275,000; shares issued and outstanding:
 121,931 in 2013 and 121,505 in 2012
3,683

 
3,663

Additional Paid-In Capital
1,689,278

 
1,934,183

Net Income Less Than Accumulated Dividends
(331,208
)
 
(335,980
)
Accumulated Other Comprehensive Loss
(15,664
)
 
(24,743
)
Total Shareholders' Equity
1,346,091

 
1,577,130

Noncontrolling Interests
205,259

 
163,025

Total Equity
1,551,350

 
1,740,155

Total Liabilities and Equity
$
4,119,314

 
$
4,184,784

(a)
This represents the Company’s investment of its unconsolidated real estate joint ventures and partnerships. See page 20 for additional information.

Page 4


Weingarten Realty Investors
Funds From Operations
(in thousands, except per share amounts)

 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2013
 
2012
 
2013
 
2012
Funds from Operations
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
Net income attributable to common shareholders
$
45,421

 
$
22,550

 
$
79,089

 
$
34,878

Depreciation and amortization
37,511

 
33,321

 
76,182

 
70,940

Depreciation and amortization of unconsolidated real estate
 joint ventures and partnerships
4,434

 
5,363

 
8,927

 
11,007

Impairment of operating properties and real estate equity investments
165

 
5,051

 
457

 
14,830

Impairment of operating properties of unconsolidated real estate
 joint ventures and partnerships
3

 
19,889

 
366

 
19,889

(Gain) on sale of property and interests in real estate equity investments
(41,906
)
 
(31,334
)
 
(53,553
)
 
(40,907
)
(Gain) on sale of property of unconsolidated real estate
 joint ventures and partnerships

 
(123
)
 
(243
)
 
(123
)
Funds from Operations - Basic
45,628

 
54,717

 
111,225

 
110,514

Income attributable to operating partnership units
446

 
432

 
891

 
863

Funds from Operations - Diluted
46,074

 
55,149

 
112,116

 
111,377

Adjustments for Recurring FFO:
 
 
 
 
 
 
 
Other impairment loss, net of tax

 

 

 
244

Write-off of debt costs, net

 

 
(9,667
)
 

Acquisition costs
125

 
156

 
410

 
492

Redemption costs of preferred shares
15,889

 

 
18,131

 

Other, net of tax
(673
)
 
2,123

 
(673
)
 
2,123

Recurring Funds from Operations - Diluted
$
61,415

 
$
57,428

 
$
120,317

 
$
114,236

 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Funds from operations weighted average shares outstanding - Basic
121,286

 
120,661

 
121,172

 
120,571

Effect of dilutive securities:
 
 
 
 
 
 
 
Share options and awards
1,288

 
1,034

 
1,223

 
991

Operating partnership units
1,555

 
1,582

 
1,556

 
1,583

Funds from operations weighted average shares outstanding - Diluted
124,129

 
123,277

 
123,951

 
123,145

 
 
 
 
 
 
 
 
Funds from Operations per Share - Basic
$
0.38

 
$
0.45

 
$
0.92

 
$
0.92

 
 
 
 
 
 
 
 
Funds from Operations Per Share - Diluted
$
0.37

 
$
0.45

 
$
0.90

 
$
0.90

Adjustments for Recurring FFO per share:
 
 
 
 
 
 
 
Other impairment loss, net of tax

 

 

 

Write-off of debt costs, net

 

 
(0.07
)
 

Acquisition costs

 

 

 

Redemption costs of preferred shares
0.13

 

 
0.15

 

Other, net of tax
(0.01
)
 
0.02

 
(0.01
)
 
0.03

Recurring Funds from Operations Per Share - Diluted
$
0.49

 
$
0.47

 
$
0.97

 
$
0.93

 
 
 
 
 
 
 
 

Page 5


Weingarten Realty Investors
Supplemental Income Statement Detail
(in thousands)
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2013
 
2012
 
2013
 
2012
Rentals, net
 
 
 
 
 
 
 
Base minimum rent, net
$
99,696

 
$
89,821

 
$
196,829

 
$
178,620

Straight line rent
494

 
741

 
1,026

 
1,292

Over/Under-market rentals, net
187

 
254

 
310

 
520

Percentage rent
965

 
1,057

 
2,147

 
2,130

Tenant reimbursements
26,486

 
24,140

 
51,578

 
45,389

Total
$
127,828

 
$
116,013

 
$
251,890

 
$
227,951

 
 
 
 
 
 
 
 
Fee Income Primarily from Real Estate Joint Ventures and Partnerships
 
 
 
 
 
 
 
Recurring
$
1,394

 
$
1,611

 
$
2,933

 
$
3,389

Non-Recurring
1,016

 

 
1,016

 

Total
$
2,410

 
$
1,611

 
$
3,949

 
$
3,389

 
 
 
 
 
 
 
 
Interest Expense, net
 
 
 
 
 
 
 
Interest paid or accrued
$
29,450

 
$
29,780

 
$
57,284

 
$
61,397

Over-market mortgage adjustment of acquired properties, net
(143
)
 
(341
)
 
(10,005
)
 
(444
)
Gross interest expense
29,307

 
29,439

 
47,279

 
60,953

Capitalized interest
(535
)
 
(811
)
 
(1,104
)
 
(1,594
)
Total
$
28,772

 
$
28,628

 
$
46,175

 
$
59,359

 
 
 
 
 
 
 
 
Interest and Other Income, net
 
 
 
 
 
 
 
Interest income from joint ventures (primarily construction loans)
$
631

 
$
697

 
$
1,258

 
$
1,416

Deferred compensation interest income (expense)
330

 
(341
)
 
1,293

 
1,021

Other
1,137

 
226

 
1,373

 
531

Total
$
2,098

 
$
582

 
$
3,924

 
$
2,968

 
 
 
 
 
 
 
 
Supplemental Analyst Information
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Operating Income including Joint Ventures
 
 
 
 
 
 
 
Revenues
$
131,577

 
$
118,597

 
$
258,279

 
$
233,213

Operating expense
(25,003
)
 
(22,906
)
 
(49,452
)
 
(44,520
)
Real estate taxes
(15,444
)
 
(13,976
)
 
(30,104
)
 
(27,268
)
Total
91,130

 
81,715

 
178,723

 
161,425

 
 
 
 
 
 
 
 
Net Operating Income from Discontinued Operations
2,381

 
12,134

 
6,005

 
27,714

 
 
 
 
 
 
 
 
Minority Interests Share of Net Operating Income and Other Adjustments
(4,716
)
 
(5,239
)
 
(10,004
)
 
(10,482
)
Pro rata Income From Consolidated Ventures
88,795

 
88,610

 
174,724

 
178,657

 
 
 
 
 
 
 
 
Pro rata share of Unconsolidated Joint Ventures
 
 
 
 
 
 
 
Revenues
15,416

 
16,782

 
30,761

 
33,761

Operating expense
(2,687
)
 
(2,802
)
 
(5,090
)
 
(5,623
)
Real estate taxes
(1,958
)
 
(2,126
)
 
(3,562
)
 
(4,278
)
Total
10,771

 
11,854

 
22,109

 
23,860

Net Operating Income including Joint Ventures
$
99,566

 
$
100,464

 
$
196,833

 
$
202,517

 
 
 
 
 
 
 
 
Equity in Earnings (Losses) of Real Estate Joint Ventures and Partnerships, net
Net income (loss) from unconsolidated real estate joint ventures and partnerships
$
3,305

 
$
(16,670
)
 
$
7,003

 
$
(13,763
)
Intercompany fee income reclass
1,127

 
1,222

 
1,956

 
2,531

Other adjustments
297

 
(247
)
 
383

 
(388
)
Equity in earnings (losses) of real estate joint ventures and partnerships, net
$
4,729

 
$
(15,695
)
 
$
9,342

 
$
(11,620
)
 
 
 
 
 
 
 
 
Dividends
 
 
 
 
 
 
 
Common Dividends per Share
$
0.305

 
$
0.290

 
$
0.610

 
$
0.580

 
 
 
 
 
 
 
 
Common Dividends Paid as a % of Reported Funds from Operations
81.5
%
 
64.3
%
 
66.8
%
 
63.6
%
 
 
 
 
 
 
 
 
Common Dividends Paid as a % of Recurring Funds from Operations
61.0
%
 
61.7
%
 
62.2
%
 
62.0
%
 
 
 
 
 
 
 
 
General and Administrative Expenses
 
 
 
 
 
 
 
General and Administrative Expenses/Total Revenue
4.7
%
 
5.4
%
 
5.0
%
 
6.3
%
 
 
 
 
 
 
 
 
General and Administrative Expenses/Total Assets before Depreciation
0.12
%
 
0.12
%
 
0.25
%
 
0.28
%


Page 6


Weingarten Realty Investors
Supplemental Balance Sheet Detail
(in thousands)
 
June 30,
2013
 
December 31,
2012
 
 
 
 
Property
Land
$
894,302

 
$
881,156

Land held for development
121,030

 
121,294

Land under development
4,182

 
6,155

Buildings and improvements
3,294,883

 
3,325,793

Construction in-progress
59,494

 
65,452

Total
$
4,373,891

 
$
4,399,850

 
 
 
 
Straight Line Rent Receivable
 
$
58,004

 
$
58,497

 
 
 
 
Other Assets, net
Notes receivable and mortgage bonds, net
$
32,268

 
$
36,122

Debt service guaranty asset
74,075

 
74,075

Non-qualified benefit plan assets
16,629

 
16,027

Out-of-market rentals, net
8,712

 
7,729

Deferred income tax asset
11,308

 
11,548

Interest rate derivative
13,620

 
9,926

Other
17,654

 
12,498

Total
$
174,266

 
$
167,925

 
 
 
 
Other Liabilities, net
Deferred revenue
$
10,267

 
$
14,127

Non-qualified benefit plan liabilities
45,555

 
44,348

Deferred income tax payable
2,554

 
3,497

Out-of-market rentals, net
21,594

 
18,984

Interest rate derivative
537

 
768

Other
29,522

 
39,176

Total
$
110,029

 
$
120,900

 
 
 
 
Identified Intangible Assets and Liabilities
Identified Intangible Assets:
 
 
 
Above-market leases (included in Other Assets, net)
$
16,864

 
$
16,142

Above-market leases - Accumulated Amortization
(8,152
)
 
(8,413
)
Below-market assumed mortgages (included in Debt, net)
4,713

 
5,722

Below-market assumed mortgages - Accumulated Amortization
(1,674
)
 
(2,367
)
Valuation of in place leases (included in Unamortized Debt and Lease
Costs, net)
111,963

 
104,353

Valuation of in place leases - Accumulated Amortization
(44,380
)
 
(39,665
)
Total
$
79,334

 
$
75,772

 
 
 
 
Identified Intangible Liabilities:
 
 
 
Below-market leases (included in Other Liabilities, net)
$
40,180

 
$
36,517

Below-market leases - Accumulated Amortization
(18,586
)
 
(17,533
)
Above-market assumed mortgages (included in Debt, net)
42,742

 
42,708

Above-market assumed mortgages - Accumulated Amortization
(37,520
)
 
(29,176
)
Total
$
26,816

 
$
32,516



Page 7


Weingarten Realty Investors
Capitalization and Debt Coverage Ratios
(in thousands, except common share data and percentages)
 
June 30,
2013
 
December 31,
2012
 
 
 
 
Common Share Data
Closing Market Price
$
30.77

 
$
26.77

 
 
 
 
90-Day, Average Daily Trading Volume
925,364

 
836,362

 
 
 
 
Capitalization
Debt
$
2,350,762

 
$
2,204,030

Preferred Shares
150,000

 
425,000

Sub-total Debt & Preferred Shares
2,500,762

 
2,629,030

Common Shares at Market
3,751,817

 
3,252,689

Operating Partnership Units at Market
47,847

 
41,708

Total Market Capitalization (As reported)
$
6,300,426

 
$
5,923,427

Debt to Total Market Capitalization (As reported)
37.3
%
 
37.2
%
Debt to Total Market Capitalization (Pro rata)
37.0
%
 
36.3
%
 
 
 
 
Capital Availability
Revolving Credit Facility
$
500,000

 
$
500,000

Less:
 
 
 
Balance Outstanding Under Revolving Credit Facility
80,000

 
30,000

Outstanding Letters of Credit Under Revolving Facility
1,179

 
2,429

Unused Portion of Credit Facility
$
418,821

 
$
467,571

Covenant Ratios
 
 
Restrictions
 
 
 
 
Debt to Asset Ratio (Public)
 
Less than 60.0%
 
46.9
%
 
43.6
%
Debt + Preferred to Asset Ratio
 
None
 
49.9
%
 
52.0
%
Secured Debt to Asset Ratio (Public)
 
Less than 40.0%
 
16.2
%
 
18.5
%
Unencumbered Asset Test (Public)
 
Greater than 150%
 
215.8
%
 
250.6
%
Fixed Charge Coverage (Pro rata/Revolver)
 
Greater than 1.5x
 
 2.3x

 
 2.1x

Net Debt to Adjusted EBITDA
EBITDA (Current Quarter)
$
171,337

 
$
119,657

(Gain)\Loss on Sale of Real Estate
(78,360
)
 
(27,681
)
Ground Rent
482

 
500

Depreciation Included in Discontinued Operations
686

 
262

Other Non-Recurring Items
(867
)
 
26

Recurring EBITDA
$
93,278

 
$
92,764

 
 
 
 
Net Debt (less cash & equivalents)
$
2,327,398

 
$
2,184,426

Net Debt to Adjusted EBITDA (annualized)
 6.24x

 
 5.89x

Credit Ratings
 
 
 
 
S&P
 
Moody's
Senior Debt
BBB
 
Baa2
Outlook
Stable
 
Stable

Page 8


Weingarten Realty Investors
Guidance
(in thousands, except per share amounts)



 
2013 Guidance
 
 
 
 
 
 
 
 
 
 
 
 
2013
 
2013
 
 
Original Guidance
 
Revised Guidance
Recurring FFO Per Diluted Share
 
$1.84 - $1.90
 
$1.89 - $1.93
 
 
 
 
 
 
 
 
 
 
Portfolio Activity ($ in millions)
 
 
 
 
Acquisitions
 
$175 - $225
 
$100 - $150
New Development
 
$25 - $75
 
$15 - $50
 
 
 
 
 
  Total
 
$200 - $300
 
$115 - $200
 
 
 
 
 
Dispositions
 
$200 - $300
 
$250 - $350
 
 
 
 
 
 
 
 
 
 
Operating Information
 
 
 
 
Same Property Net Operating Income
 
+2% to +3%
 
+3% to +3.5%
 
 
 
 
 
Signed Occupancy
 
94% to 95%
 
94% to 95%
 
 
 
 
 
Retail Rental Growth
 
+3% to +6%
 
+3% to +6%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Denotes change to original guidance
 
 
 
 

 


Page 9













Investment Activity





Weingarten Realty Investors
New Development Properties
As of June 30, 2013
(in thousands at pro rata share, except percentages)



 
 
 
 
 
 
 
Total Square Feet
 of Building Area (1)
 
Percent Leased
 
Pro Rata Spent Year-To-Date
Pro Rata Spent Inception to Date (2)
 
Total Estimated Investment (3)
 
 
 
Completions ($)
 Year To Date
Center Name
Location
Anchors
WRI
Own %
 
 
Gross
Net
 
Net @
100%
Gross
 
 
WRI Costs
Gross Costs
 
Est. Final
ROI %
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
UNDER DEVELOPMENT
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1
Tomball Marketplace
Tomball, TX
Academy#, Kohl's#
100.0
%
 
 
147

62

 
66.5
%
85.9
%
 
97

14,410

 
15,488

15,488

 
 
 
 
 
Tomball Marketplace Phase 2
Tomball, TX
Ross, Marshall's
100.0
%
 
 
172

104

 
67.2
%
80.2
%
 
(428
)
15,910

 
17,724

17,724

 
 
 
 
 
Total Wholly Owned
 
 
 
 
 
319

165

 
66.9
%
82.9
%
 
$
(331
)
$
30,320

 
$
33,211

$
33,211

 
7.2
%
 
$
398

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2
Hilltop Village Center
Alexandria, VA
Wegman's
100.0
%
(4)
 
265

265

 
71.0
%
71.0
%
 
6,590

34,228

 
63,871

63,871

 
 
 
 
 
Total Joint Venture
 
 
 
 
 
265

265

 
71.0
%
71.0
%
 
$
6,590

$
34,228

 
$
63,871

$
63,871

 
8.4
%
 
$

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total 2 Properties Under Development (exclusive of phasing)
 
 
584

430

 
69.4
%
77.5
%
 
$
6,259

$
64,549

 
$
97,082

$
97,082

 
8.0
%
 
$
398

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Spent Inception to Date (from above)
 
 
$
64,549

$
64,549

 
 
 
 
 
 
 
 
 
 
 
Additional Capital Needed to Complete
 
 
33,930

33,930

 
 
 
 
 
 
 
 
 
 
 
Reimbursement of Future Property Sales
 
(1,397
)
(1,397
)
 
 
 
 
 
 
 
 
 
 
 
Total Estimated Investment
 
 
$
97,082

$
97,082

 
 
 
 
 
QTR Completed
YTD Completed
3Q'13E
4Q'13E
1Q'14E
2Q'14E
3Q'14E
Remaining Balance
 
Completion ($)
$398
$398
$0 - $1,600
$0 - $2,900
$0 - $3,300
$900 - $5,900
 $4,400 - $9,400
$53,700 - $58,700
 
Weighted Return (%)
7.1%
7.1%
6.8% - 7.3%
6.9% - 7.4%
6.8% - 7.3%
6.9% - 7.4%
 7.9% - 8.4%
8.0% - 8.5%
 
Net Operating Income
$28
$28
$0 - $115
$0 - $215
$0 - $240
$60 - $435
 $300 - $800
$4,300 - $5,000
 


# Denotes anchors that are not owned by Weingarten.
(1)
Total gross building area reflects the entire shopping center under development. Includes square footage for any ownership by our partners and buildings owned by others.
(2)
Net of non-cash impairment charges if applicable.
(3)
Net of anticipated proceeds from land sales.
(4)
Hilltop Village Center: 50/50 Joint Venture with 100% funding by WRI.


Note: Phased properties presented on this schedule are broken out but are counted as one in the property schedule.


Page 11


Weingarten Realty Investors
Land Held for Development
As of June 30, 2013
(in thousands, except acres and percentages)

 
 
Ownership Interest
 
Gross Acres
 
Investment (1)
Location
 
 
 
100%
 
Pro Rata
 
 
 
 
 
 
 
 
 
New Development Phased Projects
 
 
 
 
 
 
 
 
US Hwy. 1 and Caveness Farms Road, Wake Forest - Raleigh, NC
 
100.0
%
 
37.5

 
 
 
 
Highway 17 and Highway 210, Surf City, NC
 
100.0
%
 
46.5

 
 
 
 
FM 2920 and Future 249, Tomball - Houston, TX
 
100.0
%
 
10.6

 
 
 
 
Decatur at 215 - Las Vegas, NV
 
100.0
%
 
14.7

 
 
 
 
Hwy. 85 & Hwy. 285, Sheridan, CO
 
50.0
%
 
18.2

 
 
 
 
US 77 & FM 802, Brownsville, TX
 
100.0
%
 
21.0

 
 
 
 
US Hwy. 17 & US Hwy. 74/76, Leland, NC
 
100.0
%
 
12.6

 
 
 
 
Bear Valley Road at Jess Ranch Parkway (III), Apple Valley, CA
 
50.0
%
 
10.9

 
 
 
 
South 300 West & West Paxton Avenue, Salt Lake City, UT
 
31.8
%
 
4.6

 
 
 
 
State Hwy. 95 & Bullhead Pkwy., Bullhead City, AZ
 
100.0
%
 
7.2

 
 
 
 
Belle Terre Pkwy. & State Rd. 100, Palm Coast, FL
 
100.0
%
 
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 (II), Apple Valley, CA
 
50.0
%
 
3.2

 
 
 
 
Southern Ave. & Signal Butte Rd., Mesa, AZ
 
100.0
%
 
1.5

 
 
 
 
SEC Poplar Ave. at I-240, Memphis, TN
 
100.0
%
 
1.2

 
 
 
 
Total New Development Phased Projects
 
 
 
205.3

 
$
51,082

 
$
43,126

Other Raw Land
 
 
 
 
 
 
 
 
FM 1957 (Potranco Rd.) and FM 211, San Antonio, TX
 
50.0
%
 
198.7

 
 
 
 
South Fulton Parkway and SH 92, Union City - Atlanta, GA
 
100.0
%
 
81.6

 
 
 
 
Shary Road and US Hwy. 83, Mission, TX
 
50.0
%
 
35.8

 
 
 
 
SH 281 & Wilderness Oaks, San Antonio, TX
 
100.0
%
 
29.2

 
 
 
 
Creedmoor (Highway 50) and Crabtree Valley Avenue, Raleigh, NC
 
100.0
%
 
11.7

 
 
 
 
Lon Adams Rd. at Tangerine Farms Rd. - Marana, AZ
 
100.0
%
 
9.7

 
 
 
 
Rock Prairie Rd. at Hwy. 6, College Station, TX
 
100.0
%
 
9.0

 
 
 
 
SH 151 & Ingram Rd., San Antonio, TX
 
66.7
%
 
5.8

 
 
 
 
Young Pines and Curry Ford Rd., Orlando, FL
 
100.0
%
 
3.0

 
 
 
 
Leslie Rd. at Bandera Rd., Helotes, TX
 
100.0
%
 
1.7

 
 
 
 
Other
 
100.0
%
 
37.1

 
 
 
 
Total Raw Land
 
 
 
423.4

 
$
81,282

 
$
60,648

 
 
 
 
 
 
 
 
 
Total Land Held For Development Properties
 
 
 
628.7

 
$
132,364

 
$
103,775

(1)
Net of impairment and valuation adjustments.
Notes: Land costs account for $105.4 million of total investment at 100%, $80.1 million at pro rata share.
Categorization based upon proximity to development property and does not indicate future development pipeline.


Page 12


Weingarten Realty Investors
Disposition and Acquisition Summary
For the Period Ended June 30, 2013
(in thousands at pro rata share)
Center
 
City/State
 
Sq. Ft. of
 Area
 at 100%
 
Date
 Sold
 
Sales
 Proceeds
 
Weighted
 Sales
 Cap
 
 
 
 
 
 
 
 
 
 
 
Dispositions
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1st Quarter
 
 
 
 
 
 
 
 
 
 
Westland Terrace
 
Orlando, FL
 
78

 
01/29/13
 
 
 
 
Palm Lakes Plaza *
 
Margate, FL
 
114

 
01/30/13
 
 
 
 
Crowfarn Drive *
 
Memphis, TN
 
159

 
02/21/13
 
 
 
 
Outland Business Center *
 
Memphis, TN
 
410

 
02/21/13
 
 
 
 
Kendall Corners *
 
Miami, FL
 
97

 
03/22/13
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2nd Quarter
 
 
 
 
 
 
 
 
 
 
Edgebrook
 
Houston, TX
 
78

 
04/11/13
 
 
 
 
Westwood - Pad
 
San Antonio, TX
 


 
05/01/13
 
 
 
 
Houston Cold Storage
 
Houston, TX
 
129

 
05/10/13
 
 
 
 
Tully Corners *
 
San Jose, TX
 
116

 
05/15/13
 
 
 
 
Shoppes Paradise Key *
 
Destin, FL
 
272

 
05/15/13
 
 
 
 
Round Rock - Pad
 
Round Rock, TX
 


 
05/23/13
 
 
 
 
Sheldon Forest I & II
 
Channelview, TX
 
97

 
06/05/13
 
 
 
 
Orchard Green
 
Houston, TX
 
75

 
06/05/13
 
 
 
 
North Oaks
 
Houston, TX
 
405

 
06/05/13
 
 
 
 
Mission Center
 
Las Vegas, NV
 
152

 
06/18/13
 
 
 
 
Summer Center
 
Memphis, TN
 
139

 
06/19/13
 
 
 
 
Southside
 
Orlando, FL
 
160

 
06/24/13
 
 
 
 
Pavillions at San Mateo
 
Albuquerque, NM
 
209

 
06/27/13
 
 
 
 
Tomball Marketplace - Pad
 
Tomball, TX
 


 
06/28/13
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Dispositions
 
 
 
 
 
 
 
$
123,920

 
7.40
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Date
 Acquired
 
Purchase Price
 
Yield
 
 
 
 
 
 
 
 
 
 
 
Acquisitions
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1st Quarter
 
 
 
 
 
 
 
 
 
 
Sea Ranch Centre
 
Sea Ranch Lakes, FL
 
99

 
03/06/13
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2nd Quarter
 
 
 
 
 
 
 
 
 
 
Southgate Ground Lease
 
Lake Charles, LA
 


 
04/01/13
 
 
 
 
Queen Anne Marketplace *
 
Seattle, WA
 
66

 
05/21/13
 
 
 
 
Independence Plaza
 
Laredo, TX
 
324

 
06/11/13
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Acquisitions
 
 
 
 
 
 
 
$
89,288

 
5.80
%
* Unconsolidated real estate joint venture activity

Page 13


Weingarten Realty Investors
Capital Expenditures
(in thousands at pro rata share)
 
Acquisitions
 
New
 Development
 
Major
 Repairs
 
Tenant
 Finish
 
Remodels/
 Existing
 Development (1)
 
Outside
 Broker Fees
 
All
 Other
 
Total
Quarter Ended 3/31/2013
$
18,000

 
$
3,455

 
$
894

 
$
6,862

 
$
1,631

 
$
1,127

 
$
784

 
$
32,753

Quarter Ended 6/30/2013
71,288

 
2,804

 
1,976

 
7,811

 
2,079

 
883

 
339

 
87,180

Six Months Ended 6/30/2013 (2)
$
89,288

 
$
6,259

 
$
2,870

 
$
14,673

 
$
3,710

 
$
2,010

 
$
1,123

 
$
119,933

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year Ended 12/31/2012
$
235,267

 
$
30,193

 
$
12,040

 
$
40,689

 
$
12,653

 
$
4,228

 
$
1,683

 
$
336,753

Year Ended 12/31/2011
$
68,900

 
$
35,225

 
$
11,646

 
$
44,351

 
$
15,578

 
$
6,637

 
$
606

 
$
182,943

Year Ended 12/31/2010
$
193,131

 
$
16,710

 
$
13,786

 
$
29,556

 
$
14,608

 
$
5,343

 
$
1,337

 
$
274,471

(1)
Primarily incremental investment on properties formerly classified as new development.
(2)
Internal Leasing Fees are approximately $6.9 million for the six months ended June 30, 2013.

Page 14












Summary of Debt




Weingarten Realty Investors
Debt Information
(in thousands, except percentages)
 
June 30,
2013
 
2nd Quarter
 Weighted
 Average Rate (1)
 
December 31,
2012
 
4th Quarter
 Weighted
 Average Rate (1)
Outstanding Balance Summary
 
 
 
 
 
 
 
Mortgage Debt
$
795,681

 
5.93
%
 
$
920,963

 
6.15
%
3.5% Notes due 2023
298,617

 
3.50
%
 

 


3.375% Notes due 2022
298,919

 
3.38
%
 
298,870

 
3.38
%
8.1% Notes due 2019
100,000

 
8.10
%
 
100,000

 
8.10
%
Unsecured Notes Payable (MTN)
656,915

 
5.45
%
 
721,876

 
5.45
%
Revolving Credit Agreements (2)
104,500

 
1.08
%
 
66,000

 
1.32
%
Industrial Revenue Bonds
1,055

 
2.36
%
 
1,246

 
2.51
%
Obligations under Capital Leases
21,000

 
7.90
%
 
21,000

 
7.74
%
Subtotal Consolidated Debt
2,276,687

 
4.97
%
 
2,129,955

 
5.34
%
Debt Service Guarantee Liability (3)
74,075

 
 
 
74,075

 
 
Total Consolidated Debt - As Reported
2,350,762

 
4.97
%
 
2,204,030

 
5.34
%
Less: Noncontrolling Interests and Other Adjustments
(210,786
)
 
 
 
(261,950
)
 
 
Plus: WRI Share of Unconsolidated Joint Ventures
175,443

 
 
 
177,703

 
 
Total Debt - Pro rata Share
$
2,315,419

 
4.97
%
 
$
2,119,783

 
5.31
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt
 Balance
 
2nd Quarter
Weighted
Average Rate (1)
 
% of Total
 
Weighted
Average
Remaining
 Life (yrs)
Fixed vs. Variable Rate Debt (at Pro rata Share)
(includes the effect of interest rate swaps)
 
 
 
 
 
 
 
As of June 30, 2013
 
 
 
 
 
 
 
Fixed-rate debt
$
2,072,794

 
5.26
%
 
89.5
%
 
5.28

Variable-rate debt
242,625

 
3.81
%
 
10.5
%
 
2.85

Total
$
2,315,419

 
4.97
%
 
100.0
%
 
5.02

 
 
 
 
 
 
 
 
As of December 31, 2012
 
 
 
 
 
 
 
Fixed-rate debt
$
1,912,230

 
5.83
%
 
90.2
%
 
 
Variable-rate debt
207,553

 
1.95
%
 
9.8
%
 
 
Total
$
2,119,783

 
5.31
%
 
100.0
%
 
 
 
 
 
 
 
 
 
 
Secured vs. Unsecured Debt (at Pro rata Share)
 
 
 
 
 
 
 
As of June 30, 2013
 
 
 
 
 
 
 
Secured Debt
$
811,701

 
5.98
%
 
35.1
%
 
3.90

Unsecured Debt
1,503,718

 
3.81
%
 
64.9
%
 
5.63

Total
$
2,315,419

 
4.97
%
 
100.0
%
 
5.02

 
 
 
 
 
 
 
 
As of December 31, 2012
 
 
 
 
 
 
 
Secured Debt
$
886,078

 
6.23
%
 
41.8
%
 
 
Unsecured Debt
1,233,705

 
4.42
%
 
58.2
%
 
 
Total
$
2,119,783

 
5.31
%
 
100.0
%
 
 
 
 
 
 
 
 
 
 
 
As
 Reported
 
Pro rata
 Share
 
 
 
 
Weighted Average Interest Rates (1)
 
 
 
 
 
 
 
Three months ended 6/30/13
4.97
%
 
4.97
%
 
 
 
 
Six months ended 6/30/13
5.01
%
 
4.99
%
 
 
 
 
Three months ended 12/31/12
5.34
%
 
5.31
%
 
 
 
 
Twelve months ended 12/31/12
5.21
%
 
5.18
%
 
 
 
 
(1)
Weighted average interest rates exclude the effects of ASC 805 “Business Combinations”, revolver facility fee, and other loan costs related to financing.
(2)
Weighted average revolving interest rate excludes the effect of the facility fee of 25 basis points on the total commitment paid in arrears.
The weighted average revolving interest rate with the facility fee is 3.72% and 3.93% for the second quarter 2013 and the fourth quarter 2012, respectively.
(3)
Debt service guarantee liability represents bonds issued in association with a guarantee in connection with a project in Denver, Colorado.

Page 16


Weingarten Realty Investors
Schedule of Maturities
As of June 30, 2013
(in thousands, except percentages)




 
As Reported
 
Pro rata Share
 
Maturities
 
Weighted
 Average Rate (4)
 
Maturities
 
Weighted
 Average Rate (4)
 
Floating Rate
 
Fixed Rate
 
Secured
 
Unsecured
2013 (1)
$
149,879

 
5.38%
 
$
161,674

 
5.42%
 
$
1,188

 
$
160,486

 
$
51,083

 
$
110,591

2014
474,020

 
5.67%
 
427,650

 
5.58%
 
265

 
427,385

 
112,650

 
315,000

2015
275,678

 
6.07%
 
240,940

 
5.93%
 
1,565

 
239,375

 
150,940

 
90,000

2016
226,027

 
6.29%
 
242,091

 
6.12%
 
8,322

 
233,769

 
167,091

 
75,000

2017
141,864

 
6.79%
 
163,840

 
6.42%
 
 
 
163,840

 
138,840

 
25,000

2018
64,157

 
6.63%
 
24,933

 
6.11%
 
 
 
24,933

 
15,363

 
9,570

2019 (2)
153,380

 
7.65%
 
156,710

 
7.27%
 
 
 
156,710

 
56,710

 
100,000

2020
3,342

 
6.34%
 
58,619

 
5.20%
 
 
 
58,619

 
58,619

 


2021
2,278

 
6.27%
 
10,114

 
5.94%
 
 
 
10,114

 
10,114

 


2022
304,815

 
3.42%
 
305,397

 
3.43%
 
 
 
305,397

 
5,397

 
300,000

Thereafter
348,264

 
3.72%
 
349,144

 
3.72%
 
 
 
349,144

 
17,424

 
331,720

Subtotal
2,143,704

 
 
 
2,141,112

 
 
 
11,340

 
2,129,772

 
784,231

 
1,356,881

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revolving Credit Agreements
104,500

 
1.10%
 
104,500

 
1.10%
 
104,500

 
 
 
 
 
104,500

Other (3)
102,558

 
 
 
69,807

 
 
 
9,387

 
60,420

 
27,470

 
42,337

Swap Maturities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2014
 
 
 
 
 
 
 
 
50,000

 
(50,000
)
 
 
 
 
2017
 
 
 
 
 
 
 
 
67,398

 
(67,398
)
 
 
 
 
Total
$
2,350,762

 
5.01%
 
$
2,315,419

 
4.99%
 
$
242,625

 
$
2,072,794

 
$
811,701

 
$
1,503,718

(1)
Includes $1.1 million of amortizing industrial revenue bonds with a final maturity date of 2015 that are currently callable by the lender.
(2)
Includes $100.0 million of 8.1% bonds maturing in 2019 which may be redeemed at our option on or after September 15, 2014.
(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”, revolver facility fee paid quarterly on total commitment
in arrears, and other loan costs related to financing.



Page 17














Joint Ventures




Weingarten Realty Investors
Unconsolidated Joint Venture Financial Statements at 100%
(in thousands)


 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
Condensed Statements of Income
2013
 
2012
 
2013
 
2012
 
 
 
 
 
 
 
 
Revenues:
 
 
 
 
 
 
 
Base minimum rent, net
$
31,500

 
$
38,550

 
$
63,968

 
$
76,648

Straight line rent
398

 
570

 
797

 
1,273

Over/Under-market rentals, net
57

 
361

 
374

 
773

Percentage rent
286

 
213

 
395

 
484

Tenant reimbursements
8,400

 
9,521

 
16,734

 
19,259

Other income
458

 
811

 
992

 
1,436

Total
41,099

 
50,026

 
83,260

 
99,873

 
 
 
 
 
 
 
 
Expenses:
 
 
 
 
 
 
 
Depreciation and amortization
11,558

 
15,481

 
23,579

 
31,617

Interest, net
7,415

 
8,961

 
14,960

 
18,047

Operating
7,407

 
8,571

 
13,561

 
17,196

Real estate taxes, net
5,013

 
6,159

 
9,596

 
12,397

General and administrative
164

 
225

 
450

 
586

Provision for income taxes
86

 
95

 
148

 
168

Impairment loss
13

 
96,498

 
1,828

 
96,498

Total
31,656

 
135,990

 
64,122

 
176,509

 
 
 
 
 
 
 
 
(Loss) gain on sale of property
(10
)
 
246

 
1,202

 
246

 
 
 
 
 
 
 
 
Net income (loss)
$
9,433

 
$
(85,718
)
 
$
20,340

 
$
(76,390
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Condensed Balance Sheets
 
 
 
 
 
 
 
 
 
 
 
 
June 30,
 
December 31,
 
 
 
 
 
2013
 
2012
ASSETS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property
 
 
 
 
$
1,503,550

 
$
1,631,694

Accumulated depreciation
 
 
 
 
(274,448
)
 
(273,591
)
Property, net
 
 
 
 
1,229,102

 
1,358,103

 
 
 
 
 
 
 
 
Other assets, net
 
 
 
 
155,258

 
161,344

 
 
 
 
 
 
 
 
Total
 
 
 
 
$
1,384,360

 
$
1,519,447

LIABILITIES AND SHAREHOLDERS' EQUITY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt, net
 
 
 
 
$
462,859

 
$
468,841

Amounts payable to Weingarten Realty Investors and Affiliates
 
 
 
102,140

 
109,931

Other liabilities, net
 
 
 
 
33,267

 
34,157

Total
 
 
 
 
598,266

 
612,929

 
 
 
 
 
 
 
 
Accumulated equity
 
 
 
 
786,094

 
906,518

 
 
 
 
 
 
 
 
Total
 
 
 
 
$
1,384,360

 
$
1,519,447



Page 19


Weingarten Realty Investors
Unconsolidated Joint Venture Financial Statements at Pro rata Share
(in thousands)

 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
Condensed Statements of Income
2013
 
2012
 
2013
 
2012
Revenues:
 
 
 
 
 
 
 
Base minimum rent, net
$
11,894

 
$
12,923

 
$
23,745

 
$
25,932

Straight line rent
179

 
253

 
409

 
524

Over/Under-market rentals, net
(99
)
 
(39
)
 
(91
)
 
(38
)
Percentage rent
100

 
53

 
153

 
151

Tenant reimbursements
3,167

 
3,340

 
6,132

 
6,724

Other income
175

 
252

 
413

 
468

Total
15,416

 
16,782

 
30,761

 
33,761

 
 
 
 
 
 
 
 
Expenses:
 
 
 
 
 
 
 
Depreciation and amortization
4,434

 
5,363

 
8,927

 
11,007

Interest, net
2,902

 
3,274

 
5,829

 
6,605

Operating
2,687

 
2,802

 
5,090

 
5,623

Real estate taxes, net
1,958

 
2,126

 
3,562

 
4,278

General and administrative
77

 
72

 
148

 
164

Provision for income taxes
50

 
49

 
79

 
81

Impairment loss
3

 
19,889

 
366

 
19,889

Total
12,111

 
33,575

 
24,001

 
47,647

 
 
 
 
 
 
 
 
Gain on sale of property

 
123

 
243

 
123

 
 
 
 
 
 
 
 
Net income (loss)
$
3,305

 
$
(16,670
)
 
$
7,003

 
$
(13,763
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Condensed Balance Sheets
 
 
 
 
 
 
 
 
 
 
 
 
June 30,
 
December 31,
 
 
 
 
 
2013
 
2012
ASSETS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property
 
 
 
 
$
532,854

 
$
538,629

Accumulated depreciation
 
 
 
 
(107,303
)
 
(102,704
)
Property, net
 
 
 
 
425,551

 
435,925

Notes receivable from real estate joint ventures and partnerships
 
 
 
 
5,144

 
5,226

Unamortized debt and lease costs, net
 
 
 
 
21,701

 
22,206

Accrued rent and accounts receivable (net of allowance for doubtful accounts
 of $372 in 2013 and $522 in 2012)
 
 
 
 
16,539

 
18,335

Cash and cash equivalents
 
 
 
 
14,452

 
12,915

Restricted deposits and mortgage escrows
 
 
 
 
2,465

 
2,605

Notes receivable and mortgage bonds, net
 
 
 
 
283

 
272

Out-of-market rentals, net
 
 
 
 
2,012

 
2,212

Other assets, net
 
 
 
 
2,100

 
2,037

Total
 
 
 
 
$
490,247

 
$
501,733

 
 
 
 
 
 
 
 
LIABILITIES AND SHAREHOLDERS' EQUITY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt, net
 
 
 
 
$
176,352

 
$
178,683

Amounts payable to Weingarten Realty Investors and Affiliates
 
 
 
 
47,939

 
50,106

Accounts payable and accrued expenses
 
 
 
 
5,693

 
5,917

Deferred revenue
 
 
 
 
1,109

 
856

Out-of-market rentals, net
 
 
 
 
3,290

 
3,179

Interest rate derivative
 
 
 
 
550

 
760

Other liabilities, net
 
 
 
 
859

 
921

Total
 
 
 
 
235,792

 
240,422

 
 
 
 
 
 
 
 
Accumulated equity
 
 
 
 
254,455

 
261,311

 
 
 
 
 
 
 
 
Total
 
 
 
 
$
490,247

 
$
501,733

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 20


Weingarten Realty Investors
Investments in Unconsolidated Real Estate Joint Ventures & Partnerships
June 30, 2013
(in thousands, except number of properties and percentages)


 
 
 
 
 
 
 
 
 
 
Weingarten Realty
Joint Venture Partner
 
Number of
 Operating
Properties (1)(2)
 
Total GLA
 
Total Assets
 
Total Debt
 
Ownership
 Interest
 
Share of Debt
 
Investment
 Balance
 
Equity in Earnings
 (Losses) of
 Unconsolidated JVs
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TIAA Florida Retail LLC
 
4
 
829

 
$
209,889

 
$

 
20.0%
 
$

 
$
41,551

 
$
828

Perlmutter SRP, LLC
 
8
 
816

 
129,260

 
102,210

 
25.0%
 
25,553

 
4,419

 
95

Collins
 
8
 
1,165

 
144,322

 
25,549

 
50.0%
 
12,775

 
52,621

 
1,643

AEW - Institutional Client
 
6
 
436

 
122,446

 
44,744

 
20.0%
 
8,949

 
14,846

 
337

BIT Retail
 
3
 
716

 
151,428

 

 
20.0%
 

 
29,724

 
518

Jamestown
 
6
 
1,350

 
146,342

 
85,438

 
20.0%
 
17,088

 
11,574

 
706

Fidelis Realty Partners
 
1
 
491

 
139,984

 
84,702

 
57.8%
 
48,915

 
30,683

 
1,018

Sleiman Enterprises
 
3
 
220

 
28,186

 
11,212

 
50.0%
 
5,606

 
11,528

 
275

Bouwinvest
 
1
 
66

 
33,819

 

 
51.0%
 

 
16,530

 
62

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other
 
18
 
2,749

 
278,685

 
109,003

 
52.7%
 
57,467

 
72,191

 
3,861

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
58
 
8,839

 
$
1,384,360

 
$
462,859

 
37.8%
 
$
176,352

 
$
285,666

 
$
9,342

 
 
 
Joint Venture Description
 
 
 
 
 
TIAA Florida Retail LLC
 
Joint venture with an institutional partner, TIAA-CREF Global Real Estate
Perlmutter SRP, LLC
 
Retail joint venture with an institutional partner through Perlmutter Investment Company
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
Sleiman Enterprises
 
Retail joint venture in Florida
Bouwinvest
 
Retail joint venture with West Coast focus
 
 
 
 
 
 
(1) Excludes land held for development.
(2) Excludes additional consolidated joint ventures such as Hines Retail REIT Holdings and AEW Capital Management.


Page 21


Weingarten Realty Investors
Unconsolidated Joint Venture Mortgage Debt Information
As of June 30, 2013
(in thousands, except number of properties, percentages and term)

Balance Summary
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
At 100%
 
 
Joint Venture Partner
 
# of Mortgaged
 Properties
 
Mortgage
Balance (1)
 
Average Interest
Rate (2)
 
Average
Remaining
Term (yrs)
 
 
 
 
 
 
 
 
 
Perlmutter SRP, LLC
 
7
 
$
102,210

 
5.7%
 
2.6
Collins
 
2
 
25,549

 
6.3%
 
11.6
AEW - Institutional Client
 
4
 
44,744

 
5.5%
 
1.4
Jamestown
 
6
 
85,438

 
5.1%
 
4.6
Fidelis Realty Partners
 
1
 
84,702

 
4.3%
 
7.3
Sleiman Enterprises
 
2
 
11,212

 
5.6%
 
2.2
Other
 
6
 
107,737

 
5.5%
 
4.0
 
 
 
 
 
 
 
 
 
Total
 
28
 
$
461,593

 
5.3%
 
3.9
 
 
 
 
 
 
 
 
 

Schedule of Maturities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
At 100%
 
At WRI Share
 
 
Maturities (1)
 
Weighted
Average Rate (2)
 
Maturities (1)
 
Weighted
Average Rate (2)
 
 
 
 
 
 
 
 
 
2013
 
$
26,616

 
5.2%
 
$
12,744

 
5.0%
2014
 
108,893

 
5.2%
 
25,596

 
5.1%
2015
 
43,470

 
5.0%
 
11,488

 
4.9%
2016
 
97,113

 
4.9%
 
25,386

 
4.8%
2017
 
56,260

 
5.1%
 
25,801

 
5.1%
2018
 
5,681

 
4.9%
 
3,164

 
4.9%
2019
 
5,981

 
4.9%
 
3,330

 
4.9%
2020
 
92,529

 
4.9%
 
55,277

 
4.9%
2021
 
15,406

 
5.5%
 
7,835

 
5.4%
2022
 
1,164

 
6.4%
 
582

 
6.4%
Thereafter
 
8,480

 
6.4%
 
4,240

 
6.4%
Total
 
$
461,593

 
 
 
$
175,443

 
 
(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 ($2.6 million at 100%) and matures in 2015.


Page 22













Portfolio Summary




Weingarten Realty Investors
Tenant Diversification by Percent of Rental Revenues
as of June 30, 2013
(in thousands at pro rata share, except percentages and # of units)

Rank
 
Tenant Name (1)(2)
 
Credit Ranking
 (S&P / Moody's)
 
# of
 Units
 
% of
 Total
 Revenue
 
Total
 SF
 (in 000's)
 
 
 
 
 
 
 
 
 
 
 
1
 
T.J.X. Companies, Inc.
 
A/A3
 
40

 
2.38
%
 
931

2
 
The Kroger Co. (3)
 
BBB/Baa2
 
24

 
2.26
%
 
1,186

3
 
Ross Stores, Inc.
 
A-/N/A
 
36

 
2.09
%
 
802

4
 
H-E-B
 
N/A/N/A
 
9

 
1.53
%
 
551

5
 
Safeway, Inc.
 
BBB/Baa3
 
18

 
1.46
%
 
754

6
 
Petsmart, Inc.
 
BB+/N/A
 
20

 
1.29
%
 
371

7
 
Bed Bath & Beyond, Inc.
 
BBB+/N/A
 
23

 
1.22
%
 
483

8
 
Best Buy, Inc.
 
BB/Baa2
 
12

 
1.15
%
 
350

9
 
The Sports Authority
 
B-/B3
 
10

 
1.11
%
 
345

10
 
Whole Foods Market, Inc.
 
BBB-/N/A
 
7

 
0.98
%
 
261

11
 
Harris Teeter, Inc. (3)
 
N/A/N/A
 
9

 
0.96
%
 
405

12
 
Dollar Tree Stores, Inc.
 
N/A/N/A
 
41

 
0.96
%
 
368

13
 
Office Depot, Inc. (3)
 
B-/B2
 
22

 
0.91
%
 
373

14
 
24 Hour Fitness Inc.
 
B/B3
 
7

 
0.86
%
 
179

15
 
Home Depot, Inc.
 
A-/A3
 
4

 
0.83
%
 
427

16
 
Petco Animal Supplies, Inc.
 
B/B3
 
20

 
0.82
%
 
228

17
 
Gap, Inc.
 
BBB-/Baa3
 
15

 
0.82
%
 
191

18
 
Publix Super Markets, Inc.
 
N/A/N/A
 
18

 
0.72
%
 
335

19
 
Raley's
 
N/A/N/A
 
6

 
0.69
%
 
331

20
 
Wal-Mart Stores, Inc.
 
AA/Aa2
 
5

 
0.61
%
 
443

21
 
Hobby Lobby Stores, Inc.
 
N/A/N/A
 
5

 
0.61
%
 
305

22
 
Office Max Inc. (3)
 
N/A/B1
 
11

 
0.60
%
 
238

23
 
Staples, Inc.
 
BBB/Baa2
 
10

 
0.59
%
 
215

24
 
Rite Aid
 
B-/B3
 
13

 
0.56
%
 
191

25
 
Academy Sports & Outdoors
 
N/A/N/A
 
5

 
0.54
%
 
258

 
 
 
 
 
 
 
 
 
 
 
 
 
Grand Total
 
 
 
390

 
26.58
%
 
10,522

Notes:
 
 
 
 
 
 
 
 
 
 
(1
)
Tenant Names:
DBA Names:
 
 
 
 
 
 
 
 
The Kroger Co.
Kroger, Smith's Food, Ralphs, Fry's Food, King Soopers
 
 
 
 
T.J.X. Companies, Inc.
T.J. Maxx, Marshalls, Home Goods
 
 
 
 
Safeway, Inc.
Safeway, Randalls, Von's
 
 
 
 
Bed Bath & Beyond, Inc.
Bed Bath & Beyond, Cost Plus, buybuy BABY
 
 
 
 
Dollar Tree Stores, Inc.
Dollar Tree, Greenbacks
 
 
 
 
Gap, Inc.
Gap, Old Navy, Banana Republic
 
 
 
 
Raley's
Raley's, Bel Air Markets
 
 
 
(2
)
Target owns and occupies 30 units not included above.
 
 
 
 
 
 
 
(3
)
Impact of Pending Transactions
 
# of
 
% of Total
 
Total SF

 


 
Units
 
Revenue
 
(in 000's)

 
 
Kroger and Harris Teeter
 
 
33
 
3.22%
 
1,591

 
 
Office Depot and Office Max
 
 
33
 
1.51%
 
611



Page 24


Weingarten Realty Investors
Portfolio Operating Information
(in thousands at pro rata share, except percentages and leases)

 
 
 
 
 
 
 
 
 
 


 


Leasing Activity / Rent Growth
Signed Leases
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Comparable:
 
Number of
 Leases
Square Feet
New
 Rent
 $/SF

Prior
 Rent
 $/SF

TI's $/SF

Cash Change
 in Base Rent
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
All Leases
 
 
 
 
 
 
 
 
 
 
 
 
Quarter Ended June 30, 2013 (1)
 
306

1,077

$
15.60

$
14.45

$
5.88

8.0
 %
 
 
 
Quarter Ended March 31, 2013
 
306

1,140

15.86

15.26

0.93

3.9
 %
 
 
 
Quarter Ended December 31, 2012
 
263

811

16.12

15.05

2.43

7.1
 %
 
 
 
Quarter Ended September 30, 2012
 
289

786

15.98

15.79

2.49

1.2
 %
 
 
 
Rolling 12 months
 
 
1,164

3,814

$
15.87

$
15.10

$
2.97

5.1
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
New Leases
 
 
 
 
 
 
 
 
 
 
 
Quarter Ended June 30, 2013 (1)
 
85

280

$
19.71

$
16.52

$
22.11

19.3
 %
 
 
 
Quarter Ended March 31, 2013
 
67

146

19.67

18.94

6.79

3.9
 %
 
 
 
Quarter Ended December 31, 2012
 
61

122

18.04

18.04

11.87

0.0
 %
 
 
 
Quarter Ended September 30, 2012
 
83

159

16.34

17.01

12.32

-3.9
 %
 
 
 
Rolling 12 months
 
 
296

706

$
18.66

$
17.39

$
14.97

7.3
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Renewals
 
 
 
 
 
 
 
 
 
 
 
 
Quarter Ended June 30, 2013
 
221

798

$
14.15

$
13.72

$
0.20

3.2
 %
 
 
 
Quarter Ended March 31, 2013
 
239

994

15.30

14.72

0.07

3.9
 %
 
 
 
Quarter Ended December 31, 2012
 
202

689

15.78

14.52

0.77

8.7
 %
 
 
 
Quarter Ended September 30, 2012
 
206

627

15.89

15.48

0.01

2.6
 %
 
 
 
Rolling 12 months
 
 
868

3,108

$
15.23

$
14.57

$
0.25

4.5
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Comparable & Non-Comparable:
 
 
 
 
 
 
 
 
 
 
Quarter Ended June 30, 2013
 
377

1,371

 
 
 
 
 
 
 
Quarter Ended March 31, 2013
 
381

1,370

 
 
 
 
 
 
 
Quarter Ended December 31, 2012
 
350

1,066

 
 
 
 
 
 
 
Quarter Ended September 30, 2012
 
364

1,283

 
 
 
 
 
 
 
Rolling 12 months
 
 
1,472

5,090

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Lease
Expirations(2)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Anchor Tenants(3)
Non-Anchor Tenants
Total Tenants
Year
Square Feet
Percent of
 Total Square
 Feet
Revenue(4)
Percent of
 Total
 Revenue
Square Feet
Percent of
 Total Square
 Feet
Revenue(4)
Percent of
 Total
 Revenue
Square Feet
Percent of
 Total Square
 Feet
Revenue(4)
Percent of
 Total
 Revenue
Other(5)
43

0
%
$
514

0
%
163

2
%
$
3,370

2
%
206

1
 %
$
3,884

1
%
2013
453

2
%
3,505

2
%
646

7
%
13,805

6
%
1,099

4
 %
17,310

4
%
2014
1,878

10
%
17,394

9
%
1,614

17
%
33,969

16
%
3,491

12
 %
51,362

13
%
2015
2,196

12
%
20,237

11
%
1,799

18
%
38,116

18
%
3,996

14
 %
58,353

14
%
2016
2,143

12
%
21,878

11
%
1,705

17
%
36,906

17
%
3,849

14
 %
58,784

14
%
2017
2,029

11
%
24,281

13
%
1,386

14
%
32,092

15
%
3,416

12
 %
56,373

14
%
2018 - 2023
6,831

37
%
74,952

39
%
2,235

23
%
53,003

24
%
9,067

32
 %
127,956

31
%

Notes:
(1)
The quarter ended June 30, 2013 includes two leases totaling 21,200 sf at Pike Center at a blended rate of $43.17 psf as compared to the prior tenant of $10.00 psf.
(2)
Reflects in-place leases as of June 30, 2013.
(3)
Anchor tenants represent any tenant at least 10,000 square feet.
(4)
Revenue only includes minimum base rent.
(5)
Leases currently under month-to-month status or in-process of renewal.

Page 25


Weingarten Realty Investors
Portfolio Operating Information (continued)
(in thousands at pro rata share, except percentages)

Occupancy
 
 
 
 
 
 
 
Quarter Ended
 
 
 
 
June 30,
2013
 
March 31,
2013
 
December 31,
2012
 
September 30,
2012
 
June 30,
2012
 
 
Signed Basis
 
 
 
 
 
 
 
 
 
 
 
 
Anchor (1)
 
97.7%
 
97.1%
 
97.1%
 
97.2%
 
97.3%
 
 
Non-Anchor
 
88.6%
 
88.2%
 
88.2%
 
88.3%
 
87.8%
 
 
Total Retail
 
94.3%
 
93.7%
 
93.7%
 
93.9%
 
93.7%
 
 
Other
 
86.4%
 
91.4%
 
87.2%
 
85.9%
 
86.7%
 
 
Total Signed
 
94.2%
 
93.7%
 
93.6%
 
93.6%
 
93.4%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commenced Basis
 
 
 
 
 
 
 
 
 
 
 
 
Anchor (1)
 
95.9%
 
95.1%
 
95.0%
 
95.1%
 
95.1%
 
 
Non-Anchor
 
85.2%
 
84.8%
 
85.2%
 
85.3%
 
84.4%
 
 
Total Retail
 
91.9%
 
91.2%
 
91.3%
 
91.5%
 
91.0%
 
 
Other
 
86.4%
 
91.4%
 
87.2%
 
82.8%
 
81.4%
 
 
Total Commenced
 
91.9%
 
91.2%
 
91.2%
 
91.2%
 
90.6%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Same Property (2)
 
95.0%
 
94.5%
 
94.4%
 
94.5%
 
94.2%
 
 
Average Base Rents (3)
 
 
 
 
 
 
 
Quarter Ended
 
 
 
 
June 30,
2013
 
March 31,
2013
 
December 31,
2012
 
September 30,
2012
 
June 30,
2012
 
 
Commenced Basis
 
 
 
 
 
 
 
 
 
 
 
 
Anchor (1)
 
$
11.18

 
$
11.11

 
$
11.08

 
$
10.92

 
$
10.84

 
 
Non-Anchor
 
22.21

 
22.17

 
22.04

 
21.80

 
21.39

 
 
Total
 
$
15.22

 
$
15.19

 
$
15.14

 
$
14.93

 
$
14.74

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Same Property Net Operating Income Growth (4)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2013
 
2012
 
% Change
 
2013
 
2012
 
% Change
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
$
122,709

 
$
117,386

 
4.5%
 
$
243,317

 
$
234,000

 
4.0%
Expenses
 
34,145

 
33,049

 
3.3%
 
66,752

 
64,826

 
3.0%
Total
 
$
88,564

 
$
84,336

 
5.0%
 
176,565

 
169,174

 
4.4%
 
 
 
 
 
 
 
 
 
 
 
 
 
Notes:
 
 
 
 
 
 
 
 
 
 
 
 
(1) Anchor tenants represent any tenant at least 10,000 square feet.
 
 
 
 
 
 
(2) Same Property Occupancy includes operating centers that have been owned for the same comparable time period.
 
 
(3) Average Base rent per Leased SF excludes ground leases.
 
 
 
 
 
 
(4) 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 and is reported on a cash basis.

Page 26


Weingarten Realty Investors
Total Net Operating Income by Geographic Region (1)
(in thousands at pro rata share, except percentages)

 
Six Months Ended June 30,
 
Twelve Months Ended December 31,
 
2013
 
%
 
2012
 
%
 
2012
 
%
 
2011
 
%
 
2010
 
%
 
2009
 
%
West Region
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
California
$
32,273

 
16.8
%
 
$
27,696

 
13.8
%
 
$
59,163

 
15.0
%
 
$
53,618

 
13.2
%
 
$
50,943

 
13.1
%
 
$
50,136

 
12.7
%
Washington
1,137

 
0.6
%
 
1,086

 
0.5
%
 
2,048

 
0.5
%
 
1,978

 
0.5
%
 
1,171

 
0.3
%
 
1,124

 
0.3
%
Oregon
743

 
0.4
%
 
730

 
0.4
%
 
1,528

 
0.4
%
 
1,349

 
0.3
%
 
1,345

 
0.3
%
 
1,342

 
0.3
%
Total West Region
34,153

 
17.8
%
 
29,513

 
14.7
%
 
62,738

 
15.9
%
 
56,945

 
14.0
%
 
53,459

 
13.7
%
 
52,602

 
13.3
%
Mountain Region
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nevada
$
14,601

 
7.6
%
 
$
14,936

 
7.5
%
 
$
30,094

 
7.6
%
 
$
30,525

 
7.5
%
 
$
30,906

 
8.0
%
 
$
31,505

 
8.0
%
Arizona
13,556

 
7.0
%
 
12,873

 
6.4
%
 
26,032

 
6.6
%
 
25,450

 
6.3
%
 
24,287

 
6.2
%
 
26,845

 
6.8
%
Colorado
5,539

 
2.9
%
 
6,840

 
3.4
%
 
13,778

 
3.5
%
 
12,485

 
3.1
%
 
10,099

 
2.6
%
 
9,136

 
2.3
%
New Mexico
2,768

 
1.4
%
 
2,129

 
1.1
%
 
4,622

 
1.2
%
 
4,993

 
1.2
%
 
5,250

 
1.4
%
 
8,714

 
2.2
%
Utah
1,778

 
0.9
%
 
1,772

 
0.9
%
 
3,556

 
0.9
%
 
3,494

 
0.9
%
 
3,548

 
0.9
%
 
3,557

 
0.9
%
Total Mountain Region
38,243

 
19.8
%
 
38,551

 
19.3
%
 
78,082

 
19.8
%
 
76,947

 
19.0
%
 
74,090

 
19.1
%
 
79,757

 
20.2
%
Central Region
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Texas
$
53,234

 
27.7
%
 
$
61,822

 
30.9
%
 
$
116,645

 
29.5
%
 
$
129,540

 
32.0
%
 
$
121,035

 
31.1
%
 
$
113,454

 
28.7
%
Louisiana
5,242

 
2.7
%
 
4,178

 
2.1
%
 
9,185

 
2.3
%
 
8,272

 
2.0
%
 
7,715

 
2.0
%
 
8,363

 
2.1
%
Arkansas
1,550

 
0.8
%
 
1,528

 
0.8
%
 
3,089

 
0.8
%
 
3,106

 
0.8
%
 
2,732

 
0.7
%
 
3,048

 
0.8
%
Missouri
514

 
0.3
%
 
421

 
0.2
%
 
852

 
0.2
%
 
1,061

 
0.3
%
 
3,019

 
0.8
%
 
1,875

 
0.5
%
Oklahoma
340

 
0.2
%
 
531

 
0.3
%
 
921

 
0.2
%
 
1,083

 
0.3
%
 
1,034

 
0.3
%
 
975

 
0.2
%
Illinois

 
0.0
%
 
1,499

 
0.7
%
 
2,464

 
0.6
%
 
2,556

 
0.6
%
 
2,065

 
0.5
%
 
2,960

 
0.7
%
Kansas

 
0.0
%
 
479

 
0.2
%
 
474

 
0.1
%
 
1,181

 
0.3
%
 
1,214

 
0.3
%
 
1,405

 
0.4
%
Total Central Region
60,880

 
31.7
%
 
70,457

 
35.2
%
 
133,629

 
33.7
%
 
146,799

 
36.3
%
 
138,814

 
35.7
%
 
132,080

 
33.4
%
Mid-Atlantic Region
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
North Carolina
$
12,016

 
6.2
%
 
$
13,041

 
6.5
%
 
$
25,074

 
6.3
%
 
$
25,656

 
6.3
%
 
$
24,869

 
6.4
%
 
$
25,476

 
6.5
%
Georgia
10,121

 
5.3
%
 
9,602

 
4.8
%
 
19,767

 
5.0
%
 
19,845

 
4.9
%
 
21,798

 
5.6
%
 
22,643

 
5.7
%
Tennessee
3,716

 
1.9
%
 
3,996

 
2.0
%
 
7,770

 
2.0
%
 
7,491

 
1.8
%
 
6,261

 
1.6
%
 
5,009

 
1.3
%
Kentucky
3,508

 
1.8
%
 
3,577

 
1.8
%
 
7,050

 
1.8
%
 
6,890

 
1.7
%
 
7,019

 
1.8
%
 
6,766

 
1.7
%
Maryland
1,382

 
0.7
%
 

 
0.0
%
 
1,063

 
0.3
%
 

 
0.0
%
 

 
0.0
%
 

 
0.0
%
South Carolina
134

 
0.1
%
 
139

 
0.1
%
 
265

 
0.1
%
 
268

 
0.1
%
 
285

 
0.1
%
 
306

 
0.1
%
Virginia

 
0.0
%
 
1,525

 
0.8
%
 
1,805

 
0.5
%
 
3,551

 
0.9
%
 
3,634

 
0.9
%
 
3,626

 
0.9
%
Maine

 
0.0
%
 
40

 
0.0
%
 
40

 
0.0
%
 
214

 
0.1
%
 
321

 
0.1
%
 
355

 
0.1
%
Total Mid-Atlantic Region
30,877

 
16.0
%
 
31,919

 
16.0
%
 
62,833

 
16.0
%
 
63,915

 
15.8
%
 
64,186

 
16.5
%
 
64,181

 
16.3
%
Southeast Region
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Florida
$
28,302

 
14.7
%
 
$
29,537

 
14.8
%
 
$
57,620

 
14.6
%
 
$
60,361

 
14.9
%
 
$
58,135

 
15.0
%
 
$
66,170

 
16.8
%
Total Southeast Region
28,302

 
14.7
%
 
29,537

 
14.8
%
 
57,620

 
14.6
%
 
60,361

 
14.9
%
 
58,135

 
15.0
%
 
66,170

 
16.8
%
Total Net Operating Income
$
192,454

 
100.0
%
 
$
199,977

 
100.0
%
 
$
394,902

 
100.0
%
 
$
404,967

 
100.0
%
 
$
388,684

 
100.0
%
 
$
394,790

 
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 15% to 75% except for the operations of downreit 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 27












Property Listing





Weingarten Realty Investors
Summary Property Listing
As of June 30, 2013
 
 
 
 
 
Gross Leasable Area
ALL PROPERTIES BY STATE
 
# of
  Properties  
 
WRI
Owned     
 
  Joint Venture  
Share
 
Owned
  by Other   
 
Total        
 
 
 
 
 
 
 
 
 
 
 
Arizona
 
23

 
2,217,809

 

 
1,659,460

 
3,877,269

Arkansas
 
3

 
357,010

 

 

 
357,010

California
 
30

 
4,000,607

 
293,833

 
1,046,279

 
5,340,719

Colorado
 
10

 
912,555

 
678,045

 
1,224,456

 
2,815,056

Florida
 
44

 
4,613,753

 
2,724,575

 
1,493,717

 
8,832,045

Georgia
 
17

 
1,798,640

 
326,936

 
893,578

 
3,019,154

Kentucky
 
4

 
634,594

 

 
127,614

 
762,208

Louisiana
 
8

 
1,286,776

 
107,974

 
330,242

 
1,724,992

Maryland
 
1

 
81,336

 

 

 
81,336

Missouri
 
2

 
229,282

 
28,367

 

 
257,649

Nevada
 
11

 
2,214,450

 

 
1,192,283

 
3,406,733

New Mexico
 
3

 
283,470

 

 
248,626

 
532,096

North Carolina
 
21

 
2,217,372

 
120,165

 
705,600

 
3,043,137

Oklahoma
 
1

 
128,231

 

 

 
128,231

Oregon
 
3

 
119,871

 
90,777

 
62,600

 
273,248

South Carolina
 
1

 
21,530

 
64,590

 

 
86,120

Tennessee
 
5

 
472,171

 
221,834

 
154,340

 
848,345

Texas
 
83

 
8,678,564

 
3,097,660

 
2,835,959

 
14,612,185

Utah
 
4

 
316,647

 
90,774

 
434,465

 
841,886

Virginia
 
1

 

 

 

 

Washington
 
6

 
212,990

 
362,473

 
65,346

 
640,809

Total
 
281

 
30,797,658

 
8,208,003

 
12,474,565

 
51,480,228

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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.
( ) Retailers in parenthesis are not a part of the owned property.
NOTES: Square feet is reflective of area available to be leased. Average Base Rent per Leased SF excludes ground leases.

Page 29


Weingarten Realty Investors
Property Listing
As of June 30, 2013

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Center                                 
 
CBSA                                         
 
Owned %  

 
Foot Notes  
 
Owned GLA 
 
Total GLA
 
Average
Base Rent
 (ABR)
 
Occupancy
%
 
Grocer Anchor                                       
 
Other Anchors      ( ) indicates owned by others
Operating Properties
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Arizona
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mohave Crossroads
 
Lake Havasu City-Kingman, AZ
 
100.0
%
 

 
182,168

 
395,477

 
13.31

 
80.9
%
 

 
(Target), (Kohls), PetSmart, Staples, Bed Bath & Beyond, Ross Dress for Less
Arcadia Biltmore Plaza
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
21,122

 
21,122

 
N/A

 
86.5
%
 

 
Endurance Rehab, Weingarten Realty Regional Office
Arrowhead Festival S.C.
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
29,834

 
194,309

 
22.81

 
100.0
%
 

 
(Sports Authority), (Toys “R” Us), (Bed Bath & Beyond)
Broadway Marketplace
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
82,757

 
87,379

 
11.05

 
91.5
%
 

 
Office Max, Ace Hardware
Camelback Village Square
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
134,495

 
242,715

 
13.36

 
97.0
%
 
Fry’s Supermarket
 
Office Max
Desert Village
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
101,685

 
107,071

 
20.55

 
96.5
%
 
AJ Fine Foods
 
CVS/pharmacy
Fountain Plaza
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
113,536

 
305,588

 
8.90

 
98.7
%
 
Fry’s Supermarket
 
Dollar Tree, (Lowes)
Laveen Village Market
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
39,763

 
318,805

 
26.68

 
100.0
%
 
(Fry’s Supermarket)
 
(Home Depot)
Monte Vista Village Center
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
45,751

 
108,551

 
22.80

 
95.5
%
 
(Safeway)
 

Palmilla Center
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
103,568

 
178,219

 
17.73

 
97.5
%
 
(Fry’s Supermarket)
 
Office Max, PetSmart, Dollar Tree
Pueblo Anozira
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
157,607

 
157,607

 
13.94

 
98.0
%
 
Fry’s Supermarket
 
Petco, Dollar Tree
Raintree Ranch
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
129,822

 
133,020

 
24.53

 
96.7
%
 
Whole Foods
 

Rancho Encanto
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
66,787

 
72,170

 
10.63

 
100.0
%
 
Fresh N Easy
 
Family Dollar
Red Mountain Gateway
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
69,212

 
199,012

 
14.60

 
94.4
%
 

 
(Target), Bed Bath & Beyond, Famous Footwear
Scottsdale Horizon
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
10,237

 
148,383

 
28.12

 
100.0
%
 
(Safeway)
 

Squaw Peak Plaza
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
60,728

 
60,728

 
17.07

 
94.2
%
 
Sprouts Farmers Market
 

The Shoppes at Parkwood Ranch
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
92,626

 
106,738

 
11.55

 
95.4
%
 

 
Hobby Lobby, Dollar Tree
Valley Plaza
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
145,518

 
153,880

 
14.85

 
76.8
%
 
US Foods
 
Ross Dress for Less
Entrada de Oro
 
Tucson, AZ
 
100.0
%
 

 
88,665

 
109,075

 
16.82

 
95.7
%
 
Wal-Mart Neighborhood Market
 

Madera Village
 
Tucson, AZ
 
100.0
%
 

 
96,697

 
106,858

 
11.60

 
97.9
%
 
Safeway
 
Walgreens, Dollar Tree
Oracle Crossings
 
Tucson, AZ
 
100.0
%
 

 
251,194

 
261,194

 
17.55

 
99.2
%
 
Sprouts Farmers Market
 
Kohl's, Home Goods
Oracle Wetmore
 
Tucson, AZ
 
100.0
%
 

 
150,109

 
343,237

 
24.04

 
97.2
%
 

 
(Home Depot), Cost Plus, PetSmart, Walgreens, Ulta Beauty
Shoppes at Bears Path
 
Tucson, AZ
 
100.0
%
 

 
43,928

 
66,131

 
14.96

 
86.8
%
 

 
(Osco Drug)
Arizona Total:
 
# of Properties:
23

 
 
 
 
2,217,809

 
3,877,269

 
16.06

 
94.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Arkansas
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Markham Square
 
Little Rock-N. Little Rock, AR
 
100.0
%
 

 
125,884

 
125,884

 
8.09

 
98.7
%
 

 
Burlington Coat Factory, Ross Dress for Less
Markham West
 
Little Rock-N. Little Rock, AR
 
100.0
%
 

 
178,500

 
178,500

 
9.94

 
100.0
%
 

 
Academy, Office Depot, Michaels, Bassett Furniture, Dollar Tree
Westgate
 
Little Rock-N. Little Rock, AR
 
100.0
%
 

 
52,626

 
52,626

 
10.57

 
96.4
%
 

 
SteinMart
Arkansas Total:
 
# of Properties:
3

 
 
 
 
357,010

 
357,010

 
9.39

 
99.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
California
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
8000 Sunset Strip Shopping Center
 
Los Angeles-Long Beach et al, CA
 
100.0
%
 

 
171,375

 
171,375

 
38.77

 
94.3
%
 
Trader Joe's
 
Crunch, Sundance Cinemas
Buena Vista Marketplace
 
Los Angeles-Long Beach et al, CA
 
100.0
%
 

 
90,805

 
115,340

 
22.74

 
100.0
%
 
Ralph's
 
Dollar Tree
Centerwood Plaza
 
Los Angeles-Long Beach et al, CA
 
100.0
%
 

 
75,486

 
75,486

 
12.07

 
94.8
%
 
Superior Grocers
 

Westminster Center
 
Los Angeles-Long Beach et al, CA
 
100.0
%
 

 
417,567

 
425,437

 
17.64

 
96.6
%
 
Albertsons
 
Home Depot, Ross Dress for Less, Petco, Rite Aid
Hallmark Town Center
 
Madera, CA
 
100.0
%
 

 
85,066

 
98,359

 
12.97

 
97.5
%
 
Food 4 Less
 
Bally Total Fitness

Page 30


Weingarten Realty Investors
Property Listing
As of June 30, 2013

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Center                                 
 
CBSA                                         
 
Owned %  

 
Foot Notes  
 
Owned GLA 
 
Total GLA
 
Average
Base Rent
 (ABR)
 
Occupancy
%
 
Grocer Anchor                                       
 
Other Anchors      ( ) indicates owned by others
Marshalls Plaza
 
Modesto, CA
 
100.0
%
 

 
78,752

 
85,952

 
14.97

 
93.3
%
 

 
Marshalls, Dress Barn, Guitar Center
Shasta Crossroads
 
Redding, CA
 
100.0
%
 

 
121,183

 
176,866

 
17.25

 
97.8
%
 
Food Maxx
 
(Target)
Shasta Crossroads (II)
 
Redding, CA
 
40.0
%
 
(1)(3)
 
30,313

 
90,663

 
13.79

 
100.0
%
 
Food Maxx
 
Sports Authority, (Target)
Chino Hills Marketplace
 
Riverside et al, CA
 
100.0
%
 

 
310,991

 
310,991

 
19.60

 
95.3
%
 
Von’s
 
Dollar Tree, 24 Hour Fitness, Rite Aid
Jess Ranch Marketplace
 
Riverside et al, CA
 
50.0
%
 
(1)(3)
 
104,384

 
307,937

 
19.34

 
96.0
%
 
(Winco Foods)
 
Burlington Coat Factory, PetSmart, Rite Aid, Big 5
Jess Ranch Phase III
 
Riverside et al, CA
 
50.0
%
 
(1)(3)
 
92,414

 
194,362

 
18.52

 
95.6
%
 
(Winco Foods)
 
Best Buy, Cinemark Theatres, Bed Bath & Beyond, 24 Hour Fitness
Menifee Town Center
 
Riverside et al, CA
 
100.0
%
 

 
124,431

 
248,734

 
16.00

 
100.0
%
 
Ralph's
 
Ross Dress for Less, Dollar Tree
Stoneridge Town Centre
 
Riverside et al, CA
 
67.0
%
 
(1)(3)
 
104,692

 
431,272

 
22.48

 
82.3
%
 
(Super Target)
 
(Office Max, Kohl's)
Arcade Square
 
Sacramento--Arden et al, CA
 
100.0
%
 

 
76,497

 
76,497

 
13.39

 
94.7
%
 
Grocery Outlet
 

Discovery Plaza
 
Sacramento--Arden et al, CA
 
100.0
%
 

 
93,398

 
93,398

 
15.76

 
98.7
%
 
Bel Air Market
 

Prospectors Plaza
 
Sacramento--Arden et al, CA
 
100.0
%
 

 
228,345

 
236,959

 
21.64

 
95.9
%
 
SaveMart
 
Kmart, Long’s Drug Store
Summerhill Plaza
 
Sacramento--Arden et al, CA
 
100.0
%
 

 
128,835

 
128,835

 
11.36

 
93.8
%
 
Raley’s
 
Dollar Tree
Valley
 
Sacramento--Arden et al, CA
 
100.0
%
 

 
98,240

 
107,005

 
17.02

 
91.4
%
 
Raley's
 

El Camino Promenade
 
San Diego-Carlsbad et al, CA
 
100.0
%
 

 
129,676

 
129,676

 
24.10

 
98.9
%
 

 
T.J. Maxx, Staples, Dollar Tree
Rancho San Marcos Village
 
San Diego-Carlsbad et al, CA
 
100.0
%
 

 
120,829

 
132,689

 
18.13

 
94.6
%
 
Von’s
 
24 Hour Fitness
San Marcos Plaza
 
San Diego-Carlsbad et al, CA
 
100.0
%
 

 
35,880

 
81,086

 
32.01

 
93.6
%
 
(Albertsons)
 

580 Market Place
 
San Francisco-Oakland et al, CA
 
100.0
%
 

 
99,256

 
99,256

 
29.24

 
100.0
%
 
Safeway
 
24 Hour Fitness, Petco
Fremont Gateway Plaza
 
San Francisco-Oakland et al, CA
 
100.0
%
 

 
194,601

 
361,701

 
19.07

 
97.7
%
 
Raley’s
 
24 Hour Fitness, Big Cinemas, (Walgreen)
Greenhouse Marketplace
 
San Francisco-Oakland et al, CA
 
100.0
%
 

 
147,063

 
236,832

 
19.15

 
100.0
%
 
(Safeway)
 
(Longs Drug Stores), Jo-Ann Fabrics, 99 Cents Only, Factory 2 U
Silver Creek Plaza
 
San Jose-Sunnyvale et al, CA
 
100.0
%
 

 
132,925

 
197,925

 
23.12

 
100.0
%
 
Safeway
 
Walgreens, (Orchard Supply)
Freedom Centre
 
Santa Cruz-Watsonville, CA
 
100.0
%
 

 
150,865

 
150,865

 
15.53

 
96.3
%
 
Safeway
 
Rite Aid, Big Lots
Stony Point Plaza
 
Santa Rosa-Petaluma, CA
 
100.0
%
 

 
194,629

 
200,071

 
13.68

 
100.0
%
 
Food Maxx
 
Ross Dress for Less, Fallas Paredes, Goodwill Industries, Dollar General
Creekside Center
 
Vallejo-Fairfield, CA
 
100.0
%
 

 
114,445

 
114,445

 
20.26

 
92.2
%
 
Raley’s
 

Southampton Center
 
Vallejo-Fairfield, CA
 
100.0
%
 

 
162,426

 
162,426

 
18.50

 
99.2
%
 
Raley’s
 
Ace Hardware
Sunset Center
 
Vallejo-Fairfield, CA
 
100.0
%
 

 
85,238

 
98,279

 
14.81

 
91.6
%
 

 
Rite Aid, In-Shape City
California Total:
 
# of Properties:
30

 
 
 
 
4,000,607

 
5,340,719

 
19.11

 
96.3
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Colorado
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Aurora City Place
 
Denver-Aurora, CO
 
50.0
%
 
(1)(3)
 
180,478

 
542,956

 
15.28

 
84.1
%
 
(Super Target)
 
Sports Authority, Barnes & Noble, Ross Dress For Less, PetSmart
Cherry Creek
 
Denver-Aurora, CO
 
100.0
%
 

 
78,148

 
272,671

 
25.95

 
100.0
%
 

 
Sports Authority, PetSmart, (Target)
CityCenter Englewood
 
Denver-Aurora, CO
 
51.0
%
 
(1)(3)
 
137,298

 
359,213

 
15.44

 
79.9
%
 

 
(Wal-Mart), Ross Dress for Less, Petco, Office Depot, Bally Total Fitness
Crossing at Stonegate
 
Denver-Aurora, CO
 
51.0
%
 
(1)(3)
 
55,620

 
109,058

 
15.48

 
100.0
%
 
King Sooper’s
 

Edgewater Marketplace
 
Denver-Aurora, CO
 
100.0
%
 

 
144,553

 
270,553

 
10.49

 
96.9
%
 
King Sooper's
 
Ace Hardware, (Target)
Green Valley Ranch Towne Center
 
Denver-Aurora, CO
 
50.0
%
 
(1)(3)
 
28,474

 
114,947

 
21.52

 
90.9
%
 
(King Sooper’s)
 

Lowry Town Center
 
Denver-Aurora, CO
 
50.0
%
 
(1)(3)
 
38,349

 
129,398

 
24.93

 
95.4
%
 
(Albertsons)
 

River Point at Sheridan
 
Denver-Aurora, CO
 
50.0
%
 
(1)
 
92,944

 
519,020

 
18.38

 
89.3
%
 

 
(Target), (Costco and Costco Gas Pad), Regal Cinema, Michaels, Tuesday Morning
Thorncreek Crossing
 
Denver-Aurora, CO
 
51.0
%
 
(1)(3)
 
108,185

 
386,127

 
15.68

 
100.0
%
 
Sunflower Farmers Market, (Super Target)
 
Barnes & Noble, Cost Plus, Michael's, OfficeMax, Dollar Tree

Page 31


Weingarten Realty Investors
Property Listing
As of June 30, 2013

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Center                                 
 
CBSA                                         
 
Owned %  

 
Foot Notes  
 
Owned GLA 
 
Total GLA
 
Average
Base Rent
 (ABR)
 
Occupancy
%
 
Grocer Anchor                                       
 
Other Anchors      ( ) indicates owned by others
Westminster Plaza
 
Denver-Aurora, CO
 
50.0
%
 
(1)
 
48,506

 
111,113

 
17.57

 
100.0
%
 
Safeway
 
(Walgreens)
Colorado Total:
 
# of Properties:
10

 
 
 
 
912,555

 
2,815,056

 
16.45

 
91.8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Florida
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shoppes at Paradise Isle
 
Fort Walton Beach et al, FL
 
25.0
%
 
(1)(3)
 
42,917

 
171,669

 
16.03

 
98.4
%
 

 
Big Lots, Best Buy, PetSmart, Office Depot, Michaels
Argyle Village
 
Jacksonville, FL
 
100.0
%
 

 
312,432

 
312,432

 
10.88

 
93.4
%
 
Publix
 
Bed Bath & Beyond, T.J. Maxx, Babies “R” Us, Jo-Ann’s Fabrics, Michaels
Atlantic North
 
Jacksonville, FL
 
50.0
%
 
(1)(3)(4)
 
33,842

 
112,685

 
N/A

 
100.0
%
 

 
Academy, (LA Fitness)
Atlantic West
 
Jacksonville, FL
 
50.0
%
 
(1)(3)
 
33,736

 
163,481

 
11.83

 
100.0
%
 

 
T.J. Maxx, Office Depot, Dollar Tree, Shoe Carnival, (Kohl's)
Epic Village - St. Augustine
 
Jacksonville, FL
 
70.0
%
 
(1)
 
8,542

 
64,180

 
18.40

 
86.6
%
 

 
(Epic Theaters)
Kernan Village
 
Jacksonville, FL
 
50.0
%
 
(1)(3)
 
42,579

 
288,780

 
16.16

 
100.0
%
 
(Wal-Mart Supercenter)
 
Ross Dress for Less, Petco
Boca Lyons
 
Miami-Fort Lauderdale et al, FL
 
100.0
%
 

 
117,515

 
117,515

 
21.53

 
81.6
%
 

 
Ross Dress for Less
Embassy Lakes
 
Miami-Fort Lauderdale et al, FL
 
100.0
%
 

 
131,723

 
179,937

 
13.29

 
90.5
%
 
Winn Dixie
 
Tuesday Morning
Flamingo Pines
 
Miami-Fort Lauderdale et al, FL
 
100.0
%
 

 
139,462

 
266,761

 
20.56

 
93.4
%
 
(Wal-Mart Supercenter)
 
U.S. Post Office, Florida Technical College
Flamingo Pines
 
Miami-Fort Lauderdale et al, FL
 
20.0
%
 
(1)(3)
 
25,373

 
148,840

 
16.78

 
92.9
%
 
Publix
 

Hollywood Hills Plaza
 
Miami-Fort Lauderdale et al, FL
 
20.0
%
 
(1)(3)
 
72,957

 
408,509

 
18.59

 
99.1
%
 
Publix
 
Target, CVS/pharmacy
Northridge
 
Miami-Fort Lauderdale et al, FL
 
20.0
%
 
(1)(3)
 
46,969

 
237,872

 
17.14

 
95.9
%
 
Publix
 
Petco, Ross Dress for Less, Dollar Tree
Pembroke Commons
 
Miami-Fort Lauderdale et al, FL
 
20.0
%
 
(1)(3)
 
60,914

 
324,829

 
13.60

 
98.7
%
 
Publix
 
Marshalls, Office Depot, LA Fitness, Dollar Tree
Publix at Laguna Isles
 
Miami-Fort Lauderdale et al, FL
 
100.0
%
 

 
69,475

 
69,475

 
14.17

 
85.9
%
 
Publix
 

Shoppes at Parkland
 
Miami-Fort Lauderdale et al, FL
 
30.0
%
 
(1)
 
43,663

 
167,131

 
12.14

 
98.1
%
 
BJ's Wholesale Club
 

Sunrise West Shopping Center
 
Miami-Fort Lauderdale et al, FL
 
25.0
%
 
(1)(3)
 
19,080

 
76,321

 
14.41

 
88.3
%
 
Publix
 

Tamiami Trail Shops
 
Miami-Fort Lauderdale et al, FL
 
20.0
%
 
(1)(3)
 
22,173

 
132,564

 
15.11

 
93.4
%
 
Publix
 
CVS/pharmacy
TJ Maxx Plaza
 
Miami-Fort Lauderdale et al, FL
 
100.0
%
 

 
161,429

 
161,429

 
14.82

 
97.9
%
 
Winn Dixie
 
T.J. Maxx, Dollar Tree
Vizcaya Square
 
Miami-Fort Lauderdale et al, FL
 
100.0
%
 

 
110,081

 
110,081

 
14.36

 
97.2
%
 
Winn Dixie
 

Sea Ranch Centre
 
Miami-Fort Lauderdale-Pompano Beach, FL
100.0
%
 

 
98,519

 
98,519

 
17.28

 
84.3
%
 
Publix
 
CVS, Dollar Tree
Alafaya Square
 
Orlando, FL
 
20.0
%
 
(1)(3)
 
35,297

 
176,486

 
12.19

 
81.8
%
 
Publix
 

Clermont Landing
 
Orlando, FL
 
65.7
%
 
(1)(3)
 
110,396

 
337,713

 
15.94

 
92.3
%
 

 
(J.C. Penney), (Epic Theater), T.J. Maxx, Ross Dress for Less, Michaels
Colonial Landing
 
Orlando, FL
 
50.0
%
 
(1)
 
129,512

 
259,024

 
13.19

 
100.0
%
 

 
PetSmart, Sports Authority, Bed Bath & Beyond, buybuy BABY
Colonial Plaza
 
Orlando, FL
 
100.0
%
 

 
501,837

 
501,837

 
13.68

 
98.5
%
 

 
Staples, Ross Dress for Less, Marshalls, Old Navy, SteinMart, Barnes & Noble, Petco, Big Lots, Hobby Lobby
International Drive Value Center
 
Orlando, FL
 
20.0
%
 
(1)(3)
 
37,133

 
185,664

 
9.57

 
89.8
%
 

 
Bed Bath & Beyond, Ross Dress for Less, T.J. Maxx
Marketplace at Seminole Towne Center
 
Orlando, FL
 
100.0
%
 

 
302,135

 
484,048

 
14.71

 
100.0
%
 
(Super Target)
 
Marshalls, Ross Dress for Less, Old Navy, Sports Authority, Petco
Phillips Crossing
 
Orlando, FL
 
100.0
%
 

 
145,644

 
145,644

 
26.53

 
98.9
%
 
Whole Foods
 
Golf Galaxy, Michaels
Phillips Landing
 
Orlando, FL
 
100.0
%
 

 
66,218

 
286,033

 
17.84

 
100.0
%
 
(Wal-Mart Supercenter)
 
Planet Fitness
The Marketplace at Dr. Phillips
 
Orlando, FL
 
20.0
%
 
(1)(3)
 
65,218

 
326,090

 
21.08

 
96.8
%
 
Publix
 
Stein Mart, Home Goods, Morton's of Chicago, Office Depot
The Shoppes at South Semoran
 
Orlando, FL
 
100.0
%
 

 
101,486

 
101,486

 
11.82

 
100.0
%
 
Wal-Mart Neighborhood Market
 
Dollar Tree
University Palms
 
Orlando, FL
 
30.0
%
 
(1)
 
29,752

 
105,127

 
13.57

 
100.0
%
 
Publix
 

Winter Park Corners
 
Orlando, FL
 
100.0
%
 

 
102,382

 
102,382

 
19.99

 
100.0
%
 
Whole Foods Market
 
 
Indian Harbour Place
 
Palm Bay-Melbourne et al, FL
 
25.0
%
 
(1)(3)
 
40,880

 
163,521

 
11.75

 
98.5
%
 
Publix
 
Beall's

Page 32


Weingarten Realty Investors
Property Listing
As of June 30, 2013

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Center                                 
 
CBSA                                         
 
Owned %  

 
Foot Notes  
 
Owned GLA 
 
Total GLA
 
Average
Base Rent
 (ABR)
 
Occupancy
%
 
Grocer Anchor                                       
 
Other Anchors      ( ) indicates owned by others
Lake Washington Crossing
 
Palm Bay-Melbourne et al, FL
 
25.0
%
 
(1)(3)
 
29,707

 
118,828

 
10.28

 
85.7
%
 
Publix
 

Lake Washington Square
 
Palm Bay-Melbourne et al, FL
 
100.0
%
 

 
112,057

 
112,057

 
10.64

 
94.1
%
 
Thrifty Specialty Produce
 
LA Fitness
Pineapple Commons
 
Port St. Lucie-Fort Pierce, FL
 
20.0
%
 
(1)(3)
 
50,023

 
264,468

 
14.51

 
100.0
%
 

 
Ross Dress for Less, Best Buy, PetSmart, Marshalls, (CVS/pharmacy)
Quesada Commons
 
Punta Gorda, FL
 
25.0
%
 
(1)(3)
 
14,722

 
58,890

 
13.28

 
97.7
%
 
Publix
 
(Walgreens)
Shoppes of Port Charlotte
 
Punta Gorda, FL
 
25.0
%
 
(1)(3)
 
10,253

 
41,011

 
21.32

 
90.2
%
 
(Publix)
 
Petco, (Walgreens)
Shoppes of Port Charlotte
 
Punta Gorda, FL
 
25.0
%
 
(1)(3)(4)
 
980

 
3,921

 
N/A

 
100.0
%
 
(Publix)
 
Chick-Fil-A, (Walgreens)
Countryside Centre
 
Tampa-St. Petersburg et al, FL
 
100.0
%
 

 
248,431

 
248,431

 
13.93

 
95.5
%
 

 
T.J. Maxx, Home Goods, Dick's Sporting Goods, Ross Dress for Less
East Lake Woodlands
 
Tampa-St. Petersburg et al, FL
 
20.0
%
 
(1)(3)
 
28,109

 
140,543

 
14.24

 
85.9
%
 

 
Walgreens
Largo Mall
 
Tampa-St. Petersburg et al, FL
 
100.0
%
 

 
377,503

 
575,134

 
15.57

 
93.8
%
 
(Albertsons)
 
Beall’s, Marshalls, PetSmart, Bed Bath & Beyond, Staples, Michaels, (Target)
Palms of Carrollwood
 
Tampa-St. Petersburg et al, FL
 
100.0
%
 

 
167,887

 
167,887

 
13.13

 
81.9
%
 
The Fresh Market
 
Bed Bath & Beyond
Sunset 19
 
Tampa-St. Petersburg et al, FL
 
100.0
%
 

 
275,910

 
275,910

 
12.05

 
99.6
%
 

 
Bed Bath & Beyond, Staples, Comp USA, Barnes & Noble, Sports Authority, Old Navy
Whole Foods @ Carrollwood
 
Tampa-St. Petersburg et al, FL
 
100.0
%
 
(4)
 
36,900

 
36,900

 
N/A

 
100.0
%
 
Whole Foods Market
 

Florida Total:
 
# of Properties:
44

 
 
 
 
4,613,753

 
8,832,045

 
14.97

 
95.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Georgia
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Brookwood Marketplace
 
Atlanta-Sandy Springs et al, GA
 
100.0
%
 

 
199,594

 
397,295

 
17.34

 
92.1
%
 
(Super Target)
 
Home Depot, Bed Bath & Beyond, Office Max
Brookwood Square
 
Atlanta-Sandy Springs et al, GA
 
100.0
%
 

 
238,701

 
238,701

 
8.98

 
42.4
%
 

 
Marshalls
Brownsville Commons
 
Atlanta-Sandy Springs et al, GA
 
100.0
%
 

 
27,747

 
81,886

 
17.05

 
78.7
%
 
(Kroger)
 

Camp Creek Marketplace II
 
Atlanta-Sandy Springs et al, GA
 
100.0
%
 

 
196,283

 
228,003

 
14.31

 
100.0
%
 

 
DSW, LA Fitness, Shopper's World, American Signature
Cherokee Plaza
 
Atlanta-Sandy Springs et al, GA
 
30.0
%
 
(1)
 
30,859

 
102,864

 
20.48

 
100.0
%
 
Kroger
 

Dacula Marketplace
 
Atlanta-Sandy Springs et al, GA
 
100.0
%
 

 
24,140

 
116,943

 
21.93

 
76.1
%
 
(Kroger)
 

Dallas Commons
 
Atlanta-Sandy Springs et al, GA
 
100.0
%
 

 
25,158

 
95,262

 
22.66

 
100.0
%
 
(Kroger)
 

Grayson Commons
 
Atlanta-Sandy Springs et al, GA
 
100.0
%
 

 
76,611

 
76,611

 
14.08

 
91.0
%
 
Kroger
 

Lakeside Marketplace
 
Atlanta-Sandy Springs et al, GA
 
100.0
%
 

 
136,848

 
332,044

 
15.89

 
98.3
%
 
(Super Target)
 
Ross Dress for Less, Petco
Mansell Crossing
 
Atlanta-Sandy Springs et al, GA
 
20.0
%
 
(1)(3)
 
20,586

 
102,931

 
12.46

 
100.0
%
 

 
buybuy BABY, Ross Dress for Less, Rooms to Go
Perimeter Village
 
Atlanta-Sandy Springs et al, GA
 
100.0
%
 

 
374,060

 
374,060

 
18.46

 
96.4
%
 
Wal-Mart Supercenter
 
Cost Plus World Market, DSW, Hobby Lobby
Publix at Princeton Lakes
 
Atlanta-Sandy Springs et al, GA
 
20.0
%
 
(1)(3)
 
13,681

 
72,207

 
16.39

 
100.0
%
 
Publix
 

Reynolds Crossing
 
Atlanta-Sandy Springs et al, GA
 
100.0
%
 

 
45,758

 
115,983

 
24.57

 
84.8
%
 
(Kroger)
 

Roswell Corners
 
Atlanta-Sandy Springs et al, GA
 
100.0
%
 

 
136,124

 
314,014

 
16.17

 
95.2
%
 
(Super Target)
 
Staples, T.J. Maxx
Roswell Crossing
 
Atlanta-Sandy Springs et al, GA
 
100.0
%
 

 
201,979

 
201,979

 
13.95

 
93.0
%
 
Trader Joe's
 
Office Max, PetsMart, Walgreens
Sandy Plains Exchange
 
Atlanta-Sandy Springs et al, GA
 
30.0
%
 
(1)
 
21,835

 
72,784

 
13.52

 
94.8
%
 
Publix
 

Thompson Bridge Commons
 
Gainesville, GA
 
30.0
%
 
(1)
 
28,676

 
95,587

 
13.49

 
94.9
%
 
Kroger
 

Georgia Total:
 
# of Properties:
17

 
 
 
 
1,798,640

 
3,019,154

 
15.65

 
87.9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Kentucky
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Millpond Center
 
Lexington-Fayette, KY
 
100.0
%
 

 
124,498

 
151,498

 
10.47

 
93.2
%
 
Kroger
 

Regency Shopping Centre
 
Lexington-Fayette, KY
 
100.0
%
 

 
142,738

 
188,782

 
13.61

 
91.8
%
 
(Kroger)
 
T.J. Maxx, Michaels
Tates Creek
 
Lexington-Fayette, KY
 
100.0
%
 

 
198,372

 
203,532

 
14.34

 
98.2
%
 
Kroger
 
Rite Aid
Festival at Jefferson Court
 
Louisville, KY-IN
 
100.0
%
 

 
168,986

 
218,396

 
12.58

 
99.2
%
 
Kroger
 
(PetSmart), Staples, Factory Card Outlet
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Kentucky Total:
 
# of Properties:
4

 
 
 
 
634,594

 
762,208

 
12.94

 
96.0
%
 
 
 
 

Page 33


Weingarten Realty Investors
Property Listing
As of June 30, 2013

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Center                                 
 
CBSA                                         
 
Owned %  

 
Foot Notes  
 
Owned GLA 
 
Total GLA
 
Average
Base Rent
 (ABR)
 
Occupancy
%
 
Grocer Anchor                                       
 
Other Anchors      ( ) indicates owned by others
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Louisiana
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Town & Country Plaza
 
Hammond, LA
 
100.0
%
 

 
224,827

 
224,827

 
8.71

 
94.0
%
 
Winn Dixie
 
 Ross Dress for Less, Office Depot, CVS/pharmacy
Westwood Village
 
Lafayette, LA
 
100.0
%
 

 
138,034

 
138,034

 
9.93

 
99.2
%
 
Rouses Supermarket
 
Stage, CVS
14/Park Plaza
 
Lake Charles, LA
 
100.0
%
 

 
172,068

 
172,068

 
7.42

 
60.3
%
 

 
Conn’s, Anna's Linens, Family Dollar, Citi Trends
K-Mart Plaza
 
Lake Charles, LA
 
50.0
%
 
(1)(3)
 
107,974

 
232,390

 
9.33

 
100.0
%
 
Albertsons
 
Kmart, Dollar Tree
Southgate
 
Lake Charles, LA
 
100.0
%
 

 
158,587

 
158,587

 
10.39

 
85.7
%
 
Market Basket
 
Office Depot, Books-A-Million
Danville Plaza
 
Monroe, LA
 
100.0
%
 

 
141,218

 
141,218

 
5.36

 
93.0
%
 
County Market
 
Citi Trends, Surplus Warehouse
Manhattan Place
 
New Orleans-Metairie-Kenner, LA
 
100.0
%
 

 
137,315

 
276,615

 
14.60

 
90.8
%
 

 
(Target), Ross Dress for Less, Stage, K&G Fashion
University Place
 
Shreveport-Bossier City, LA
 
100.0
%
 

 
206,753

 
381,253

 
16.52

 
98.5
%
 
(Super Target)
 
Best Buy, T.J. Maxx, CVS/pharmacy, Bed Bath & Beyond
Louisiana Total:
 
# of Properties:
8

 
 
 
 
1,286,776

 
1,724,992

 
10.92

 
89.8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Maryland
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pike Center
 
Washington, DC-VA-MD-WV
 
100.0
%
 

 
81,336

 
81,336

 
53.74

 
97.3
%
 

 
T.G.I. Friday's, Ethan Allen, Pier 1
Maryland Total:
 
# of Properties:
1

 
 
 
 
81,336

 
81,336

 
53.74

 
97.3
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Missouri
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ballwin Plaza
 
St. Louis, MO-IL
 
100.0
%
 

 
200,915

 
200,915

 
7.99

 
80.0
%
 
Schnucks
 
Michaels
Western Plaza
 
St. Louis, MO-IL
 
50.0
%
 
(1)(3)
 
28,367

 
56,734

 
7.57

 
100.0
%
 

 
Value Village
Missouri Total:
 
# of Properties:
2

 
 
 
 
229,282

 
257,649

 
7.94

 
82.4
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nevada
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Best in the West
 
Las Vegas-Paradise, NV
 
100.0
%
 

 
428,067

 
428,067

 
17.17

 
94.2
%
 

 
Old Navy, Best Buy, Office Depot, Bed Bath & Beyond, Babies "R" Us, DSW Shoes, PetSmart, Jo-Ann Stores, Sports Authority, Ulta Beauty
Charleston Commons
 
Las Vegas-Paradise, NV
 
100.0
%
 

 
333,198

 
363,173

 
15.39

 
93.4
%
 
Wal-Mart
 
Ross, Office Max, 99 Cents Only, PetSmart
College Park S.C.
 
Las Vegas-Paradise, NV
 
100.0
%
 

 
167,654

 
195,367

 
11.56

 
94.4
%
 
El Super
 
Anna's Linens, Factory 2 U, CVS
Eastern Horizon
 
Las Vegas-Paradise, NV
 
100.0
%
 

 
65,848

 
209,727

 
21.05

 
90.9
%
 
Trader Joe's, (Kmart)
 

Francisco Centre
 
Las Vegas-Paradise, NV
 
100.0
%
 

 
116,973

 
148,815

 
11.43

 
84.4
%
 
La Bonita Grocery
 
(Ross Dress for Less), Fallas Paredes
Paradise Marketplace
 
Las Vegas-Paradise, NV
 
100.0
%
 

 
77,597

 
148,092

 
16.72

 
87.4
%
 
(Smith’s Food)
 
Dollar Tree
Rainbow Plaza
 
Las Vegas-Paradise, NV
 
100.0
%
 

 
273,916

 
273,916

 
14.24

 
96.3
%
 
Albertsons
 
Ross Dress for Less, JC Penney, Home Depot, 24 Hour Fitness
Rainbow Plaza, Phase I
 
Las Vegas-Paradise, NV
 
100.0
%
 

 
136,369

 
136,369

 
13.25

 
96.0
%
 
Albertsons
 
Ross Dress for Less, JC Penney, Home Depot, 24 Hour Fitness
Rancho Towne & Country
 
Las Vegas-Paradise, NV
 
100.0
%
 

 
84,743

 
139,839

 
12.09

 
100.0
%
 
Smith’s Food
 

Tropicana Beltway
 
Las Vegas-Paradise, NV
 
100.0
%
 

 
246,483

 
617,821

 
17.45

 
94.9
%
 
(Wal-Mart Supercenter)
 
(Lowe’s), Ross Dress for Less, PetSmart, Office Depot, Sports Authority, .99 Cents Only
Tropicana Marketplace
 
Las Vegas-Paradise, NV
 
100.0
%
 

 
69,475

 
142,643

 
18.69

 
77.4
%
 
(Smith’s Food)
 
Family Dollar
Westland Fair North
 
Las Vegas-Paradise, NV
 
100.0
%
 

 
214,127

 
602,904

 
16.95

 
97.2
%
 
(Wal-Mart Supercenter)
 
(Lowe’s), PetSmart, Office Depot, Michaels, Anna's Linens
Nevada Total:
 
# of Properties:
11

 
 
 
 
2,214,450

 
3,406,733

 
15.54

 
93.4
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
New Mexico
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Eastdale
 
Albuquerque, NM
 
100.0
%
 

 
119,091

 
119,091

 
7.29

 
92.8
%
 
Albertsons
 
Family Dollar
North Towne Plaza
 
Albuquerque, NM
 
100.0
%
 

 
112,666

 
142,106

 
19.63

 
99.0
%
 
Whole Foods Market
 
Home Goods
Wyoming Mall
 
Albuquerque, NM
 
100.0
%
 

 
51,713

 
270,899

 
16.74

 
100.0
%
 
(Wal-Mart Supercenter)
 
Dollar Tree
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
New Mexico Total:
 
# of Properties:
3

 
 
 
 
283,470

 
532,096

 
14.12

 
96.6
%
 
 
 
 

Page 34


Weingarten Realty Investors
Property Listing
As of June 30, 2013

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Center                                 
 
CBSA                                         
 
Owned %  

 
Foot Notes  
 
Owned GLA 
 
Total GLA
 
Average
Base Rent
 (ABR)
 
Occupancy
%
 
Grocer Anchor                                       
 
Other Anchors      ( ) indicates owned by others
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
North Carolina
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Galleria
 
Charlotte-Gastonia et al, NC-SC
 
100.0
%
 

 
120,674

 
328,276

 
16.95

 
90.7
%
 
(Wal-Mart Supercenter)
 
Off Broadway Shoes
Steele Creek Crossing
 
Charlotte-Gastonia et al, NC-SC
 
100.0
%
 

 
77,301

 
77,301

 
16.83

 
98.0
%
 
BI-LO
 
Rite Aid
Whitehall Commons
 
Charlotte-Gastonia et al, NC-SC
 
100.0
%
 

 
41,941

 
444,561

 
23.71

 
95.0
%
 
(Wal-Mart Supercenter), (BI-LO)
 
(Lowes)
Bull City Market
 
Durham, NC
 
100.0
%
 

 
40,875

 
40,875

 
18.32

 
100.0
%
 
Whole Foods Market
 

Chatham Crossing
 
Durham, NC
 
25.0
%
 
(1)(3)
 
24,039

 
96,155

 
13.34

 
97.7
%
 
Lowes Food
 
CVS/pharmacy
Cole Park Plaza
 
Durham, NC
 
100.0
%
 

 
82,258

 
82,258

 
10.39

 
47.8
%
 

 
Dollar General
Hope Valley Commons
 
Durham, NC
 
100.0
%
 

 
81,371

 
81,371

 
22.30

 
100.0
%
 
Harris Teeter
 

Ravenstone Commons
 
Durham, NC
 
100.0
%
 

 
60,424

 
60,424

 
14.86

 
100.0
%
 
Food Lion
 

Avent Ferry
 
Raleigh-Cary, NC
 
100.0
%
 

 
111,622

 
111,622

 
17.17

 
97.6
%
 
Food Lion
 
Family Dollar
Capital Square
 
Raleigh-Cary, NC
 
100.0
%
 

 
143,063

 
143,063

 
7.22

 
100.0
%
 
Food Lion
 

Falls Pointe
 
Raleigh-Cary, NC
 
100.0
%
 

 
112,203

 
198,553

 
17.10

 
91.9
%
 
Harris Teeter
 
(Kohl’s)
Harrison Pointe
 
Raleigh-Cary, NC
 
100.0
%
 

 
130,758

 
130,758

 
16.30

 
91.7
%
 
Harris Teeter
 
Staples
Heritage Station
 
Raleigh-Cary, NC
 
30.0
%
 
(1)
 
20,592

 
77,669

 
19.48

 
98.3
%
 
Harris Teeter
 

High House Crossing
 
Raleigh-Cary, NC
 
100.0
%
 

 
90,155

 
90,155

 
14.33

 
98.2
%
 
Harris Teeter
 

Leesville Town Centre
 
Raleigh-Cary, NC
 
100.0
%
 

 
114,396

 
114,396

 
21.25

 
97.1
%
 
Harris Teeter
 
Rite Aid
Northwoods Market
 
Raleigh-Cary, NC
 
100.0
%
 

 
77,802

 
77,802

 
11.55

 
94.5
%
 
Wal-Mart Neighborhood Market
 

Parkway Pointe
 
Raleigh-Cary, NC
 
100.0
%
 

 
80,061

 
80,061

 
10.86

 
97.0
%
 
Food Lion
 
Rite Aid
Six Forks Station
 
Raleigh-Cary, NC
 
100.0
%
 

 
466,585

 
466,585

 
10.88

 
94.5
%
 
Food Lion
 
Kmart, Home Depot, Bed Bath & Beyond
Stonehenge Market
 
Raleigh-Cary, NC
 
100.0
%
 

 
188,521

 
188,521

 
12.40

 
98.4
%
 
Harris Teeter
 
SteinMart, Rite Aid
Surf City Crossing
 
Wilmington, NC
 
100.0
%
 

 
63,016

 
63,016

 
10.96

 
93.1
%
 
Harris Teeter
 

Waterford Village
 
Wilmington, NC
 
100.0
%
 

 
89,715

 
89,715

 
21.16

 
93.5
%
 
Harris Teeter
 

North Carolina Total:
 
# of Properties:
21

 
 
 
 
2,217,372

 
3,043,137

 
14.31

 
94.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Oklahoma
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Town and Country
 
Oklahoma City, OK
 
100.0
%
 

 
128,231

 
128,231

 
6.54

 
91.3
%
 

 
Office Depot, Big Lots, Westlake Hardware, Aaron Rents
Oklahoma Total:
 
# of Properties:
1

 
 
 
 
128,231

 
128,231

 
6.54

 
91.3
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Oregon
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Clackamas Square
 
Portland-Vancouver et al, OR-WA
 
20.0
%
 
(1)(3)
 
14,790

 
136,551

 
17.46

 
97.6
%
 
(Winco Foods)
 
T.J. Maxx
Oak Grove Market Center
 
Portland-Vancouver et al, OR-WA
 
100.0
%
 

 
97,177

 
97,177

 
13.17

 
94.0
%
 
Safeway
 

Raleigh Hills Plaza
 
Portland-Vancouver et al, OR-WA
 
20.0
%
 
(1)(3)
 
7,904

 
39,520

 
24.40

 
100.0
%
 
New Seasons Market
 
Walgreens
Oregon Total:
 
# of Properties:
3

 
 
 
 
119,871

 
273,248

 
14.46

 
94.8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
South Carolina
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fresh Market Shoppes
 
Hilton Head Island-Beaufort, SC
 
25.0
%
 
(1)(3)
 
21,530

 
86,120

 
15.04

 
91.3
%
 
The Fresh Market
 

South Carolina Total:
 
# of Properties:
1

 
 
 
 
21,530

 
86,120

 
15.04

 
91.3
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Page 35


Weingarten Realty Investors
Property Listing
As of June 30, 2013

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Center                                 
 
CBSA                                         
 
Owned %  

 
Foot Notes  
 
Owned GLA 
 
Total GLA
 
Average
Base Rent
 (ABR)
 
Occupancy
%
 
Grocer Anchor                                       
 
Other Anchors      ( ) indicates owned by others
Tennessee
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Bartlett Towne Center
 
Memphis, TN-MS-AR
 
100.0
%
 

 
192,624

 
192,624

 
11.06

 
96.2
%
 
Kroger
 
Petco, Dollar Tree, Shoe Carnival
Commons at Dexter Lake
 
Memphis, TN-MS-AR
 
30.0
%
 
(1)
 
50,087

 
178,558

 
8.82

 
89.0
%
 
Kroger
 
SteinMart, Marshalls, HomeGoods
Commons at Dexter Lake Phase II
 
Memphis, TN-MS-AR
 
30.0
%
 
(1)
 
18,551

 
66,838

 
13.18

 
80.6
%
 
Kroger
 
SteinMart, Marshalls, HomeGoods
Highland Square
 
Memphis, TN-MS-AR
 
100.0
%
 
(4)
 
14,490

 
14,490

 
N/A

 
100.0
%
 

 
Walgreens
Mendenhall Commons
 
Memphis, TN-MS-AR
 
30.0
%
 
(1)
 
26,432

 
88,108

 
11.40

 
97.4
%
 
Kroger
 

Ridgeway Trace
 
Memphis, TN-MS-AR
 
100.0
%
 

 
169,987

 
307,727

 
20.76

 
97.1
%
 

 
(Target), Best Buy, Sports Authority, PetSmart, Staples
Tennessee Total:
 
# of Properties:
5

 
 
 
 
472,171

 
848,345

 
14.51

 
95.3
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Texas
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Bell Plaza
 
Amarillo, TX
 
15.0
%
 
(1)
 
19,595

 
130,631

 
10.89

 
96.0
%
 
United Supermarket
 
Dollar Tree
Crossroads
 
Beaumont-Port Arthur, TX
 
100.0
%
 

 
115,798

 
115,798

 
4.86

 
99.1
%
 
Market Basket
 
Beall’s, Baskin’s, Burke’s Outlet
North Park Plaza
 
Beaumont-Port Arthur, TX
 
50.0
%
 
(1)(3)
 
70,036

 
281,401

 
13.90

 
100.0
%
 

 
(Target), (Toys “R” Us)
Phelan West
 
Beaumont-Port Arthur, TX
 
66.7
%
 
(1)(3)
 
15,552

 
82,221

 
12.87

 
100.0
%
 
(Kroger)
 

North Towne Plaza
 
Brownsville-Harlingen, TX
 
100.0
%
 

 
36,000

 
153,000

 
17.78

 
32.2
%
 

 
(Lowe's)
Moore Plaza
 
Corpus Christi, TX
 
100.0
%
 

 
371,650

 
599,622

 
14.07

 
99.2
%
 
(H-E-B)
 
Office Depot, Marshalls, (Target), Old Navy, Hobby Lobby, Steinmart
Boswell Towne Center
 
Dallas-Fort Worth-Arlington, TX
 
100.0
%
 

 
26,088

 
88,008

 
21.64

 
95.3
%
 
(Albertsons)
 

Gateway Station
 
Dallas-Fort Worth-Arlington, TX
 
70.0
%
 
(1)
 
47,950

 
68,500

 
11.79

 
61.9
%
 

 
Conn's
Horne Street Market
 
Dallas-Fort Worth-Arlington, TX
 
100.0
%
 
(4)
 
42,267

 
42,267

 
N/A

 
100.0
%
 

 
24 Hour Fitness
Lake Pointe Market Center
 
Dallas-Fort Worth-Arlington, TX
 
100.0
%
 

 
40,513

 
121,689

 
21.56

 
64.1
%
 
(Tom Thumb)
 
(Walgreens)
Overton Park Plaza
 
Dallas-Fort Worth-Arlington, TX
 
100.0
%
 

 
355,259

 
465,259

 
13.50

 
95.1
%
 
Sprouts Farmers Market
 
Sports Authority, PetsMart, T.J. Maxx, (Home Depot), Goody Goody Wines, Anna’s Linens, buybuy BABY
Preston Shepard Place
 
Dallas-Fort Worth-Arlington, TX
 
20.0
%
 
(1)(3)
 
72,667

 
363,337

 
16.46

 
98.1
%
 

 
Babies "R" Us, Stein Mart, Nordstrom, Marshalls, Office Depot, Petco
10/Federal
 
Houston-Baytown-Sugar Land, TX
 
15.0
%
 
(1)
 
19,871

 
132,472

 
8.20

 
99.2
%
 
Sellers Bros.
 
Palais Royal, Harbor Freight Tools
1919 North Loop West
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
138,058

 
138,058

 
N/A

 
74.4
%
 

 
State of Texas
Alabama-Shepherd
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
56,969

 
56,969

 
22.68

 
100.0
%
 
Trader Joe's
 
PetSmart
Bellaire Boulevard
 
Houston-Baytown-Sugar Land, TX
 
30.0
%
 
(1)
 
10,524

 
41,273

 
26.74

 
100.0
%
 
Randall’s
 

Blalock Market at I-10
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
97,277

 
97,277

 
15.23

 
100.0
%
 
99 Ranch Market
 

Braeswood Square
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
104,686

 
104,686

 
12.59

 
99.4
%
 
Belden’s
 
Walgreens
Broadway
 
Houston-Baytown-Sugar Land, TX
 
15.0
%
 
(1)
 
11,191

 
74,604

 
6.98

 
92.1
%
 

 
Big Lots, Family Dollar
Centre at Post Oak
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
183,940

 
183,940

 
30.37

 
97.6
%
 

 
Marshalls, Old Navy, Grand Lux Café, Nordstrom Rack, Arhaus
Champions Village
 
Houston-Baytown-Sugar Land, TX
 
30.0
%
 
(1)
 
117,916

 
393,055

 
13.14

 
93.5
%
 
Randall’s
 
SteinMart, Palais Royal, Cost Plus, Barnes & Noble
Citadel Plaza
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
121,000

 
121,000

 
N/A

 
100.0
%
 

 
Weingarten Realty Investors Corporate Office
Cullen Plaza
 
Houston-Baytown-Sugar Land, TX
 
15.0
%
 
(1)
 
12,678

 
84,517

 
9.92

 
100.0
%
 
Fiesta
 
Family Dollar
Cypress Pointe
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
186,721

 
283,381

 
9.59

 
97.3
%
 
Kroger
 
Babies “R” Us
Cypress Station
 
Houston-Baytown-Sugar Land, TX
100.0
%
 

 
140,624

 
140,624

 
13.91

 
78.3
%
 

 
David's Bridal
Fiesta Village
 
Houston-Baytown-Sugar Land, TX
 
15.0
%
 
(1)
 
4,537

 
30,249

 
8.81

 
100.0
%
 
Fiesta
 

Galveston Place
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
210,537

 
210,537

 
10.53

 
98.0
%
 
Randall’s
 
Office Depot, Palais Royal, Spec's Liquor
Glenbrook Square
 
Houston-Baytown-Sugar Land, TX
 
15.0
%
 
(1)
 
11,684

 
77,890

 
8.73

 
89.6
%
 
Kroger
 

Griggs Road
 
Houston-Baytown-Sugar Land, TX
 
15.0
%
 
(1)
 
12,017

 
80,116

 
10.89

 
51.9
%
 

 
Family Dollar, Citi Trends

Page 36


Weingarten Realty Investors
Property Listing
As of June 30, 2013

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Center                                 
 
CBSA                                         
 
Owned %  

 
Foot Notes  
 
Owned GLA 
 
Total GLA
 
Average
Base Rent
 (ABR)
 
Occupancy
%
 
Grocer Anchor                                       
 
Other Anchors      ( ) indicates owned by others
Harrisburg Plaza
 
Houston-Baytown-Sugar Land, TX
 
15.0
%
 
(1)
 
14,016

 
93,438

 
16.87

 
91.3
%
 

 
Fallas Paredes
HEB - Dairy Ashford & Memorial
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 
(4)
 
36,874

 
36,874

 
N/A

 
100.0
%
 
H-E-B
 

Heights Plaza
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
71,277

 
71,277

 
8.75

 
100.0
%
 
Kroger
 

Humblewood Shopping Plaza
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
180,226

 
279,226

 
14.08

 
100.0
%
 
Kroger
 
Conn’s, Walgreens, (Michaels), (DSW)
I-45/Telephone Rd. Center
 
Houston-Baytown-Sugar Land, TX
 
15.0
%
 
(1)
 
25,768

 
171,789

 
10.67

 
100.0
%
 
Sellers Bros.
 
FAMSA, Dollar Tree, Fallas Paredes
Kirby Strip Center
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
10,005

 
10,005

 
26.43

 
100.0
%
 

 
Freebirds Burrito
Lawndale
 
Houston-Baytown-Sugar Land, TX
 
15.0
%
 
(1)
 
7,819

 
52,127

 
10.31

 
100.0
%
 

 
LaMichoacana Meat Market, Family Dollar, 99 Cents Only
League City Plaza
 
Houston-Baytown-Sugar Land, TX
 
15.0
%
 
(1)
 
19,048

 
126,990

 
12.21

 
93.8
%
 
Kroger
 

Little York Plaza
 
Houston-Baytown-Sugar Land, TX
 
15.0
%
 
(1)
 
17,082

 
113,878

 
8.87

 
90.0
%
 
Sellers Bros.
 
Fallas Paredes
Lyons Avenue
 
Houston-Baytown-Sugar Land, TX
 
15.0
%
 
(1)
 
10,144

 
67,629

 
7.73

 
100.0
%
 
Fiesta
 
Fallas Paredes
Market at Town Center
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
388,865

 
388,865

 
18.88

 
98.4
%
 

 
Old Navy, Home Goods, Marshalls, Ross Dress for Less
Market at Westchase
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
84,081

 
84,081

 
17.60

 
93.1
%
 
Whole Foods Market
 

Market Street Shopping Center
 
Houston-Baytown-Sugar Land, TX
 
50.0
%
 
(1)
 
24,569

 
49,138

 
6.73

 
98.2
%
 
Sellers Bros.
 
Family Dollar
Montgomery Plaza
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
300,772

 
322,987

 
9.20

 
96.6
%
 

 
Academy, Conn’s, 99 Cents Only, Petco, Anna's Linens, Spec's Liquor
North Triangle
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
16,060

 
16,060

 
21.74

 
67.6
%
 

 
CiCi’s Pizza
Northbrook Center
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
173,288

 
173,288

 
13.63

 
98.9
%
 
Randall’s
 
Office Depot, Citi Trends, Anna’s Linens, Dollar Tree
Northwest Crossing
 
Houston-Baytown-Sugar Land, TX
 
75.0
%
 
(1)(3)
 
134,602

 
300,190

 
14.33

 
100.0
%
 

 
(Target), Marshalls, Best Buy, Dollar Tree, Big Lots
Oak Forest
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
151,324

 
151,324

 
12.76

 
98.0
%
 
Kroger
 
Ross Dress for Less, Dollar Tree
Palmer Plaza
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
96,526

 
196,506

 
9.41

 
87.4
%
 

 
Dollar Tree
Randall's/Kings Crossing
 
Houston-Baytown-Sugar Land, TX
 
30.0
%
 
(1)
 
37,919

 
126,397

 
16.13

 
100.0
%
 
Randall’s
 
CVS/pharmacy
Richmond Square
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
92,356

 
92,356

 
20.77

 
100.0
%
 

 
Best Buy, Cost Plus
River Oaks East
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
71,265

 
71,265

 
29.07

 
100.0
%
 
Kroger
 

River Oaks West
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
248,663

 
248,663

 
29.07

 
97.0
%
 
Kroger
 
Barnes & Noble, Talbots, Ann Taylor, Gap, JoS. A. Bank
Rose-Rich
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
102,641

 
102,641

 
8.55

 
79.9
%
 

 
Family Dollar, Palais Royal
Shoppes at Memorial Villages
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
182,541

 
182,541

 
7.61

 
81.2
%
 

 
Rexel
Shops at Three Corners
 
Houston-Baytown-Sugar Land, TX
 
70.0
%
 
(1)
 
173,060

 
272,350

 
12.63

 
96.8
%
 
Fiesta
 
Ross Dress for Less, PetSmart, Office Depot, Big Lots
Southgate
 
Houston-Baytown-Sugar Land, TX
 
15.0
%
 
(1)
 
18,789

 
125,260

 
9.57

 
95.5
%
 
Food-A-Rama
 
CVS/pharmacy, Family Dollar, Palais Royal
Spring Plaza
 
Houston-Baytown-Sugar Land, TX
 
15.0
%
 
(1)
 
8,258

 
55,056

 
8.76

 
100.0
%
 
Sellers Bros.
 
Family Dollar
Stella Link
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
70,087

 
70,087

 
9.12

 
93.3
%
 
Sellers Bros.
 
Burke’s Outlet, Spec’s Liquor Warehouse
Village Arcade
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
57,281

 
57,281

 
37.41

 
100.0
%
 

 
Gap, Baby Gap, Chicos
Village Arcade-Phase II
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
28,371

 
28,371

 
37.41

 
100.0
%
 

 
Talbots
Village Arcade-Phase III
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
107,134

 
107,134

 
37.41

 
95.8
%
 

 
Banana Republic, Express, Ann Taylor
Village Plaza at Bunker Hill
 
Houston-Baytown-Sugar Land, TX
 
57.8
%
 
(1)(3)
 
283,399

 
495,204

 
12.95

 
98.4
%
 
H-E-B
 
PetSmart, Babies "R" Us, Academy, Tiger Direct
Westchase Center
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
232,074

 
331,624

 
12.48

 
100.0
%
 
Randall's
 
(Target), Ross Dress for Less, Golfsmith, Palais Royal, Petco
Westhill Village
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
130,041

 
130,041

 
15.41

 
98.7
%
 

 
Ross Dress for Less, Office Depot, 99 Cents Only, Anna’s Linens
Killeen Marketplace
 
Killeen-Temple-Fort Hood, TX
 
100.0
%
 

 
115,203

 
251,137

 
12.17

 
97.0
%
 

 
Best Buy, Ross Dress for Less, Staples, (Home Depot)
Independence Plaza
 
Laredo, TX
 
100.0
%
 

 
329,232

 
329,232

 
12.45

 
96.7
%
 
H-E-B
 
TJ Maxx, Hobby Lobby, Petco and Ulta Beauty
North Creek Plaza
 
Laredo, TX
 
100.0
%
 

 
239,897

 
481,764

 
13.98

 
96.5
%
 
(H-E-B)
 
(Target), Marshalls, Old Navy, Best Buy, Bed Bath & Beyond

Page 37


Weingarten Realty Investors
Property Listing
As of June 30, 2013

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Center                                 
 
CBSA                                         
 
Owned %  

 
Foot Notes  
 
Owned GLA 
 
Total GLA
 
Average
Base Rent
 (ABR)
 
Occupancy
%
 
Grocer Anchor                                       
 
Other Anchors      ( ) indicates owned by others
Plantation Centre
 
Laredo, TX
 
100.0
%
 

 
135,373

 
143,015

 
14.82

 
100.0
%
 
H-E-B
 

Angelina Village
 
Lufkin, TX
 
100.0
%
 

 
248,199

 
248,199

 
9.13

 
91.6
%
 

 
Kmart, Conn's
Las Tiendas Plaza
 
McAllen-Edinburg-Pharr, TX
 
50.0
%
 
(1)(3)
 
143,968

 
500,067

 
10.55

 
96.8
%
 

 
(Target), (Mervyn’s), Academy, Conn’s, Ross Dress for Less, Marshalls, Office Depot
Market at Nolana
 
McAllen-Edinburg-Pharr, TX
 
50.0
%
 
(1)(3)
 
20,315

 
243,821

 
21.92

 
81.3
%
 
(Wal-Mart Supercenter)
 

Market at Sharyland Place
 
McAllen-Edinburg-Pharr, TX
 
50.0
%
 
(1)(3)
 
56,456

 
301,174

 
17.35

 
95.6
%
 

 
(Wal-Mart), Kohl's, Dollar Tree
Northcross
 
McAllen-Edinburg-Pharr, TX
 
50.0
%
 
(1)(3)
 
37,432

 
74,865

 
17.41

 
89.8
%
 

 
Barnes & Noble
Old Navy Building
 
McAllen-Edinburg-Pharr, TX
 
50.0
%
 
(1)(3)(4)
 
7,500

 
15,000

 
N/A

 
100.0
%
 

 
Old Navy
Sharyland Towne Crossing
 
McAllen-Edinburg-Pharr, TX
 
50.0
%
 
(1)(3)
 
176,520

 
484,949

 
14.92

 
100.0
%
 
H-E-B
 
(Target), T.J. Maxx, Petco, Office Depot, Ross Dress for Less
South 10th St. HEB
 
McAllen-Edinburg-Pharr, TX
 
50.0
%
 
(1)(3)
 
51,851

 
103,702

 
11.43

 
100.0
%
 
H-E-B
 

Starr Plaza
 
Rio Grande City, TX
 
50.0
%
 
(1)(3)
 
88,346

 
176,693

 
11.55

 
99.0
%
 
H-E-B
 
Beall’s, Dollar General
Fiesta Trails
 
San Antonio, TX
 
100.0
%
 

 
306,370

 
482,370

 
15.21

 
98.4
%
 
(H-E-B)
 
(Target), Act III Theatres, Marshalls, Office Max, SteinMart, Petco, Anna’s Linens
Oak Park Village
 
San Antonio, TX
 
30.0
%
 
(1)
 
19,286

 
64,287

 
9.54

 
100.0
%
 
H-E-B
 

Parliament Square
 
San Antonio, TX
 
100.0
%
 

 
64,950

 
64,950

 
10.44

 
85.2
%
 

 
Family Dollar
Parliament Square II
 
San Antonio, TX
 
100.0
%
 
(4)
 
54,541

 
54,541

 
N/A

 
100.0
%
 

 
Incredible Pizza
Thousand Oaks
 
San Antonio, TX
 
15.0
%
 
(1)
 
24,348

 
162,322

 
10.78

 
95.4
%
 
H-E-B
 
Beall’s, Tuesday Morning
Valley View
 
San Antonio, TX
 
100.0
%
 

 
91,544

 
91,544

 
11.34

 
95.7
%
 

 
Marshalls, Dollar Tree
Westwood Center
 
San Antonio, TX
 
100.0
%
 

 
68,753

 
77,758

 
17.89

 
81.7
%
 

 
(Wal-Mart)
Broadway
 
Tyler, TX
 
100.0
%
 

 
60,400

 
60,400

 
7.96

 
96.2
%
 

 
SteinMart
Texas Total:
 
# of Properties:
82

 
 
 
 
8,600,314

 
14,376,114

 
14.45

 
95.3
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Utah
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Alpine Valley Center
 
Provo-Orem, UT
 
33.3
%
 
(1)(3)
 
30,382

 
224,654

 
16.25

 
100.0
%
 
(Super Target)
 
Old Navy, Justice, Dollar Tree, Office Depot
300 West
 
Salt Lake City, UT
 
31.8
%
 
(1)(3)
 
14,009

 
182,119

 
25.92

 
100.0
%
 

 
(Target)
Taylorsville Town Center
 
Salt Lake City, UT
 
100.0
%
 

 
90,157

 
130,214

 
17.36

 
92.8
%
 
The Fresh Market
 
Rite Aid
West Jordan Town Center
 
Salt Lake City, UT
 
100.0
%
 

 
182,099

 
304,899

 
11.74

 
89.5
%
 

 
(Target), Petco, Office Depot
Utah Total:
 
# of Properties:
4

 
 
 
 
316,647

 
841,886

 
14.10

 
91.9
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Washington
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Meridian Town Center
 
Seattle-Tacoma-Bellevue, WA
 
20.0
%
 
(1)(3)
 
15,533

 
143,012

 
16.49

 
98.7
%
 
(Safeway)
 
Jo-Ann Fabric & Craft Store, Tuesday Morning
Mukilteo Speedway Center
 
Seattle-Tacoma-Bellevue, WA
 
20.0
%
 
(1)(3)
 
18,055

 
90,273

 


 


 

 
Dollar Tree
Promenade 23
 
Seattle-Tacoma-Bellevue, WA
 
100.0
%
 

 
96,660

 
96,660

 
15.08

 
92.5
%
 
Red Apple Grocers
 
Walgreens
Queen Anne Marketplace
 
Seattle-Tacoma-Bellevue, WA
 
51.0
%
 
(1)(3)
 
33,839

 
66,351

 
22.82

 
100.0
%
 
Metropolitan Market
 

Rainer Square Plaza
 
Seattle-Tacoma-Bellevue, WA
 
20.0
%
 
(1)(3)
 
22,101

 
110,503

 
19.09

 
100.0
%
 
Safeway
 
Ross Dress for Less
South Hill Center
 
Seattle-Tacoma-Bellevue, WA
 
20.0
%
 
(1)(3)
 
26,802

 
134,010

 
16.71

 
96.3
%
 

 
Bed Bath & Beyond, Ross Dress for Less, Best Buy
Washington Total:
 
# of Properties:
6

 
 
 
 
212,990

 
640,809

 
17.31

 
95.7
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Operating Properties
 
# of Properties:
279

 
 
 
 
30,719,408

 
51,244,157

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Page 38


Weingarten Realty Investors
Property Listing
As of June 30, 2013

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Center                                 
 
CBSA                                         
 
Owned %  

 
Foot Notes  
 
Owned GLA 
 
Total GLA
 
Average
Base Rent
 (ABR)
 
Occupancy
%
 
Grocer Anchor                                       
 
Other Anchors      ( ) indicates owned by others
New Development
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Texas
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Tomball Marketplace
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 
(2)
 
78,250

 
236,071

 
 
 
 
 
 
 
 
Texas Total:
 
# of Properties:
1

 
 
 
 
78,250

 
236,071

 
 
 
 
 
 
 
 
Virginia
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Hilltop Village
 
Washington, DC-VA-MD-WV
 
100.0
%
 
(1)(2)
 
0

 
0

 
 
 
 
 
 
 
 
Virginia Total:
 
# of Properties:
1

 
 
 
 
0

 
0

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total New Developments
 
# of Properties:
2

 
 
 
 
78,250

 
236,071

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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
 
 
 
 
 
 
 
63,162

 
 
 
 
 
 
 
 
Arizona Total:
 
 
 
 
 
 
 
798,455

 
 
 
 
 
 
 
 
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
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Highway 85 and Highway 285, Sheridan
 
 
 
 
 
 
 
792,792

 
 
 
 
 
 
 
 
Colorado Total:
 
 
 
 
 
 
 
792,792

 
 
 
 
 
 
 
 
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 Pkwy. @ Hwy. 92, Union City
 
 
 
 
 
 
 
3,554,496

 
 
 
 
 
 
 
 
Georgia Total:
 
 
 
 
 
 
 
3,554,496

 
 
 
 
 
 
 
 
Louisiana
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ambassador Caffery at W. Congress, Lafayette
 
 
 
 
 
 
 
34,848

 
 
 
 
 
 
 
 
Louisiana Total:
 
 
 
 
 
 
 
34,848

 
 
 
 
 
 
 
 
Nevada
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SWC Highway 215 at Decatur, Las Vegas
 
 
 
 
 
 
 
639,896

 
 
 
 
 
 
 
 
Nevada Total:
 
 
 
 
 
 
 
639,896

 
 
 
 
 
 
 
 
North Carolina
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Hwy. 17 & U.S. Hwy. 74/76, Leland
 
 
 
 
 
 
 
549,727

 
 
 
 
 
 
 
 
Creedmoor (Highway 50) and Crabtree Valley Avenue, Raleigh
 
 
 
 
 
 
 
510,959

 
 
 
 
 
 
 
 
Highway 17 and Highway 210, Surf City
 
 
 
 
 
 
 
2,024,233

 
 
 
 
 
 
 
 

Page 39


Weingarten Realty Investors
Property Listing
As of June 30, 2013

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Center                                 
 
CBSA                                         
 
Owned %  

 
Foot Notes  
 
Owned GLA 
 
Total GLA
 
Average
Base Rent
 (ABR)
 
Occupancy
%
 
Grocer Anchor                                       
 
Other Anchors      ( ) indicates owned by others
U.S. Highway 1 at Caveness Farms Rd., Wake Forest
 
 
 
 
 
 
 
1,637,420

 
 
 
 
 
 
 
 
North Carolina Total:
 
 
 
 
 
 
 
4,722,339

 
 
 
 
 
 
 
 
Tennessee
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Poplar Avenue and Ridgeway Road, Memphis
 
 
 
 
 
 
 
53,579

 
 
 
 
 
 
 
 
Tennessee Total:
 
 
 
 
 
 
 
53,579

 
 
 
 
 
 
 
 
Texas
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. 77 and 83 at SHFM 802, Brownsville
 
 
 
 
 
 
 
914,723

 
 
 
 
 
 
 
 
Rock Prairie Rd. at Hwy. 6, College Station
 
 
 
 
 
 
 
394,218

 
 
 
 
 
 
 
 
River Pointe Drive at Interstate 45, Conroe
 
 
 
 
 
 
 
72,745

 
 
 
 
 
 
 
 
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
 
 
 
 
 
 
 
105,501

 
 
 
 
 
 
 
 
Northwest Freeway at Gessner, Houston
 
 
 
 
 
 
 
117,612

 
 
 
 
 
 
 
 
West Little York at Interstate 45, Houston
 
 
 
 
 
 
 
161,172

 
 
 
 
 
 
 
 
Nolana Ave. and 29th St., McAllen
 
 
 
 
 
 
 
163,350

 
 
 
 
 
 
 
 
Shary Rd. at North Hwy. 83, Mission
 
 
 
 
 
 
 
1,560,319

 
 
 
 
 
 
 
 
9th Ave. at 25th St., Port Arthur
 
 
 
 
 
 
 
243,065

 
 
 
 
 
 
 
 
Gattis School Rd at A.W. Grimes Blvd, Round Rock
 
 
 
 
 
 
 
57,499

 
 
 
 
 
 
 
 
FM 1957 (Potranco Road) and FM 211, San Antonio
 
 
 
 
 
 
 
8,655,372

 
 
 
 
 
 
 
 
SH 151 and Ingram Rd, San Antonio
 
 
 
 
 
 
 
252,692

 
 
 
 
 
 
 
 
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
 
 
 
 
 
 
 
459,776

 
 
 
 
 
 
 
 
Texas Total:
 
 
 
 
 
 
 
15,324,718

 
 
 
 
 
 
 
 
Utah
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
South 300 West & West Paxton Avenue, Salt Lake City
 
 
 
 
 
 
 
201,683

 
 
 
 
 
 
 
 
Utah Total:
 
 
 
 
 
 
 
201,683

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Unimproved Land
 
 
 
 
 
 
 
27,388,223

 
 
 
 
 
 
 
 



Page 40