Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2022

Real Estate And Accumulated Depreciation Disclosure [Abstract]

Real Estate and Accumulated Depreciation

SITE Centers Corp.

Real Estate and Accumulated Depreciation

December 31, 2022

(In thousands)

													Total Cost,
	Initial Cost						Total Cost(1)						Net of				Date of
			Buildings &				Buildings &				Accumulated		Accumulated				Construction (C)
Location	Land		Improvements		Land(2)		Improvements(3)		Total		Depreciation(4)		Depreciation		Encumbrances(5)		Acquisition (A)
Chandler, AZ		1,417		3,490		1,417		3,490		4,907		55		4,852		—	2022 (A)
Mesa, AZ		1,486		3,202		1,486		3,202		4,688		47		4,641		—	2022 (A)
Phoenix, AZ		18,701		18,929		18,701		26,481		45,182		13,150		32,032		—	1999 (A)
Phoenix, AZ		15,352		24,414		15,352		29,850		45,202		19,403		25,799		—	2003 (A)
Phoenix, AZ		15,090		36,880		18,399		45,890		64,289		16,779		47,510		—	2012 (A)
Scottsdale, AZ		6,424		7,684		6,424		7,684		14,108		261		13,847		—	2022 (A)
Scottsdale, AZ		1,756		4,404		1,756		4,404		6,160		71		6,089		—	2022 (A)
Tempe, AZ		2,451		4,640		2,451		4,640		7,091		77		7,014		—	2022 (A)
Buena Park, CA		27,269		21,427		27,269		27,517		54,786		7,508		47,278		—	2015 (A)
Fontana, CA		23,861		57,931		23,861		64,546		88,407		18,615		69,792		—	2014 (A)
Lafayette, CA		21,431		36,076		21,431		36,076		57,507		867		56,640		—	2022 (A)
Lafayette, CA		6,808		32,751		6,808		32,765		39,573		776		38,797		—	2022 (A)
Long Beach, CA		—		147,918		—		200,298		200,298		113,340		86,958		—	2005 (C)
Oakland, CA		4,361		33,538		4,361		33,538		37,899		10,700		27,199		—	2013 (A)
Roseville, CA		23,574		67,031		23,574		69,486		93,060		19,539		73,521		—	2014 (A)
San Francisco, CA		10,464		25,730		10,464		30,578		41,042		15,131		25,911		—	2002 (A)
Centennial, CO		7,833		35,550		9,075		70,611		79,686		49,002		30,684		—	1997 (C)
Colorado Springs, CO		9,001		47,671		9,001		61,146		70,147		21,421		48,726		—	2011 (A)
Denver, CO		20,733		22,818		20,804		28,644		49,448		17,771		31,677		—	2003 (A)
Denver, CO		1,222		4,305		1,222		4,305		5,527		25		5,502		—	2022 (A)
Parker, CO		4,632		38,256		4,632		43,107		47,739		12,529		35,210		—	2013 (A)
Guilford, CT		4,588		41,892		6,457		64,740		71,197		14,307		56,890		—	2015 (C)
Windsor Court, CT		6,090		11,745		6,090		12,538		18,628		6,466		12,162		—	2007 (A)
Boca Raton, FL		23,120		58,982		23,120		59,631		82,751		1,464		81,287		—	2022 (A)
Boynton Beach, FL		6,048		9,256		6,048		9,569		15,617		559		15,058		—	2021 (A)
Brandon, FL		—		4,111		—		27,781		27,781		5,026		22,755		—	1972 (C)
Brandon, FL		4,775		13,117		4,775		19,929		24,704		9,520		15,184		—	2009 (A)
Brandon, FL		2,938		13,685		2,938		19,058		21,996		5,082		16,914		—	2013 (A)
Casselberry, FL		10,336		30,349		10,336		30,418		40,754		1,331		39,423		—	2022 (A)
Delray Beach, FL		12,664		26,006		12,664		26,093		38,757		1,496		37,261		17,075	2021 (A)
Fort Walton Beach, FL		3,643		5,612		3,462		6,011		9,473		307		9,166		—	2021 (A)
Jupiter, FL		8,764		20,051		8,764		20,964		29,728		1,660		28,068		12,409	2020 (A)
Melbourne, FL		3,111		7,325		3,111		14,553		17,664		1,859		15,805		—	2018 (A)
Miami, FL		11,626		30,457		26,743		122,412		149,155		59,486		89,669		—	2006 (C)
Naples, FL		10,172		39,342		10,172		43,751		53,923		13,142		40,781		—	2013 (A)
Orlando, FL		8,528		56,684		13,057		82,415		95,472		16,936		78,536		—	2016 (C)
Orlando, FL		9,451		16,424		9,451		16,642		26,093		1,274		24,819		—	2020 (A)
Palm Harbor, FL		1,137		4,089		1,137		5,523		6,660		4,332		2,328		—	1995 (A)
Plantation, FL		21,729		37,331		22,112		96,697		118,809		53,172		65,637		—	2007 (A)
Tamarac, FL		16,730		22,139		16,730		22,631		39,361		1,250		38,111		—	2021 (A)
Tampa, FL		10,000		10,907		10,000		11,204		21,204		1,236		19,968		9,100	2019 (A)

SCHEDULE III

SITE Centers Corp.

Real Estate and Accumulated Depreciation

December 31, 2022

(In thousands)

													Total Cost,
	Initial Cost						Total Cost(1)						Net of				Date of
			Buildings &				Buildings &				Accumulated		Accumulated				Construction (C)
Location	Land		Improvements		Land(2)		Improvements(3)		Total		Depreciation(4)		Depreciation		Encumbrances(5)		Acquisition (A)
Tampa, FL		6,800		15,874		6,800		16,018		22,818		750		22,068		—	2021 (A)
Wesley Chapel, FL		8,080		21,567		8,080		22,129		30,209		775		29,434		—	2021 (A)
Winter Garden, FL		38,945		130,382		38,945		141,315		180,260		45,685		134,575		—	2013 (A)
Alpharetta, GA		1,370		3,003		1,370		3,003		4,373		88		4,285		—	2022 (A)
Atlanta, GA		14,078		41,050		14,078		48,229		62,307		20,646		41,661		—	2009 (A)
Atlanta, GA		12,358		17,103		12,365		17,324		29,689		917		28,772		—	2021 (A)
Atlanta, GA		2,719		5,379		2,719		5,379		8,098		101		7,997		—	2022 (A)
Cumming, GA		14,249		23,653		14,249		30,112		44,361		17,726		26,635		—	2003 (A)
Cumming, GA		6,851		49,659		6,851		53,301		60,152		16,733		43,419		—	2013 (A)
Cumming, GA		3,391		8,218		3,391		9,060		12,451		1,475		10,976		—	2018 (A)
Douglasville, GA		2,839		5,511		2,839		7,441		10,280		1,564		8,716		—	2018 (A)
Roswell, GA		6,566		15,005		7,894		29,378		37,272		14,468		22,804		—	2007 (A)
Snellville, GA		10,185		51,815		7,859		54,214		62,073		31,324		30,749		—	2007 (A)
Suwanee, GA		13,479		23,923		13,335		35,763		49,098		21,105		27,993		—	2003 (A)
Chicago, IL		22,642		82,754		22,642		83,617		106,259		24,383		81,876		—	2014 (A)
Chicago, IL		23,588		45,632		23,588		45,957		69,545		10,342		59,203		—	2017 (A)
Schaumburg, IL		27,466		84,679		21,736		81,928		103,664		25,226		78,438		—	2013 (A)
Everett, MA		9,311		44,647		9,462		62,648		72,110		39,659		32,451		—	2001 (C)
Framingham, MA		75,675		191,594		75,675		210,436		286,111		64,146		221,965		—	2013 (A)
Brentwood, MO		10,018		32,053		10,018		41,135		51,153		27,887		23,266		—	1998 (A)
East Hanover, NJ		3,847		23,798		3,847		29,739		33,586		15,233		18,353		—	2007 (A)
Edgewater, NJ		7,714		30,473		7,714		44,248		51,962		17,400		34,562		—	2007 (A)
Freehold, NJ		2,460		2,475		3,166		3,816		6,982		1,686		5,296		—	2005 (C)
Hamilton, NJ		8,039		49,896		10,014		97,909		107,923		53,304		54,619		—	2003 (A)
Princeton, NJ		17,991		82,063		18,998		123,996		142,994		77,087		65,907		—	1997 (A)
Voorhees, NJ		1,350		1,837		1,350		5,201		6,551		429		6,122		—	2020 (A)
Hempstead, NY		26,487		14,418		26,479		14,843		41,322		1,343		39,979		—	2020 (A)
Charlotte, NC		27,707		45,021		27,707		52,858		80,565		20,777		59,788		—	2011 (A)
Charlotte, NC		11,224		82,124		11,173		100,145		111,318		34,347		76,971		—	2012 (A)
Charlotte, NC		3,600		30,392		8,749		54,623		63,372		14,700		48,672		—	2013 (C)
Cornelius, NC		4,382		15,184		4,190		21,616		25,806		11,714		14,092		—	2007 (A)
Cincinnati, OH		19,572		54,495		19,572		80,018		99,590		22,745		76,845		—	2014 (A)
Columbus, OH		12,922		46,006		14,078		73,827		87,905		52,888		35,017		—	1998 (A)
Columbus, OH		18,716		64,617		20,666		73,440		94,106		26,468		67,638		—	2011 (A)
Mason, OH		2,032		23,788		2,032		31,012		33,044		8,484		24,560		—	2014 (A)
Stow, OH		993		9,028		993		47,786		48,779		27,874		20,905		—	1969 (C)
Westlake, OH		424		4,004		424		36,952		37,376		7,835		29,541		—	1974 (C)
Portland, OR		20,208		50,738		20,208		65,853		86,061		26,682		59,379		—	2012 (A)
Portland, OR		10,122		37,457		10,122		38,350		48,472		4,310		44,162		—	2019 (A)
Boothwyn, PA		6,370		16,931		6,258		17,297		23,555		1,731		21,824		15,589	2020 (A)
Easton, PA		7,691		20,405		7,691		21,228		28,919		2,231		26,688		—	2020 (A)
Anderson, SC		1,372		11,656		1,372		11,757		13,129		887		12,242		—	2020 (A)

SCHEDULE III

SITE Centers Corp.

Real Estate and Accumulated Depreciation

December 31, 2022

(In thousands)

													Total Cost,
	Initial Cost						Total Cost(1)						Net of				Date of
			Buildings &				Buildings &				Accumulated		Accumulated				Construction (C)
Location	Land		Improvements		Land(2)		Improvements(3)		Total		Depreciation(4)		Depreciation		Encumbrances(5)		Acquisition (A)
Mount Pleasant, SC		2,430		10,470		2,341		31,454		33,795		18,388		15,407		—	1995 (A)
Brentwood, TN		6,101		25,956		6,101		28,038		34,139		8,919		25,220		—	2013 (A)
Highland Village, TX		5,545		28,365		5,545		30,902		36,447		11,139		25,308		—	2013 (A)
Houston, TX		2,743		18,506		2,743		18,506		21,249		382		20,867		—	2022 (A)
Round Rock, TX		3,467		8,839		3,467		8,921		12,388		1,054		11,334		—	2019 (A)
San Antonio, TX		3,475		37,327		4,873		55,226		60,099		33,002		27,097		—	2002 (C)
San Antonio, TX		5,602		39,196		10,158		119,803		129,961		54,298		75,663		—	2007 (C)
San Antonio, TX		2,381		6,487		2,381		24,630		27,011		13,541		13,470		—	2007 (A)
Charlottesville, VA		2,181		6,571		2,181		6,571		8,752		363		8,389		—	2021 (A)
Charlottesville, VA		1,400		2,537		1,404		2,537		3,941		87		3,854		—	2021 (A)
Fairfax, VA		15,681		68,536		15,681		71,807		87,488		21,781		65,707		—	2013 (A)
Fairfax, VA		4,377		10,868		4,377		10,910		15,287		212		15,075		—	2022 (A)
Fairfax, VA		1,830		6,206		1,830		6,206		8,036		126		7,910		—	2022 (A)
Fairfax, VA		4,532		5,221		4,532		5,360		9,892		114		9,778		—	2022 (A)
Richmond, VA		7,331		49,278		7,330		51,864		59,194		3,844		55,350		—	2020 (A)
Richmond, VA		11,879		34,736		11,879		37,732		49,611		18,883		30,728		—	2007 (A)
Springfield, VA		17,016		40,038		17,016		45,000		62,016		22,473		39,543		—	2007 (A)
Portfolio Balance (SITE)		14,912		216,871		14,913		216,867		231,780		112,166		119,614		—
	$	1,038,032	$	3,360,464	$	1,075,106	$	4,358,053	$	5,433,159	$	1,652,899	$	3,780,260	$	54,173

(1)The aggregate cost for federal income tax purposes was approximately $5.7 billion at December 31, 2022.

(2)Includes $8.3 million of undeveloped land at December 31, 2022.

(3)Includes $48.2 million of construction in progress at December 31, 2022.

(4)Depreciation and amortization is recorded on a straight-line basis over the estimated useful lives of the assets as follows:

Buildings	Useful lives, ranging from 31.5 to 40 years
Building improvements and fixtures	Useful lives, ranging from 3 to 20 years
Tenant improvements	Shorter of economic life or lease terms

(5)Excludes fair market value of debt adjustments and net loan costs aggregating $0.4 million.

The changes in Total Real Estate Assets are as follows (in thousands):

	For the Year Ended December 31,
	2022			2021			2020
Balance at beginning of year	$	5,238,881		$	4,989,388		$	4,709,812
Acquisitions		328,898			215,998			242,593
Developments, improvements and expansions		113,876			84,130			59,126
Adjustments of property carrying values (Impairments)		(2,536	)		(7,270	)		(5,200	)
Disposals(A)		(245,960	)		(43,365	)		(16,943	)
Balance at end of year	$	5,433,159		$	5,238,881		$	4,989,388

(A)Includes the write-off of fully amortized tenant improvements.

The changes in Accumulated Depreciation and Amortization are as follows (in thousands):

	For the Year Ended December 31,
	2022			2021			2020
Balance at beginning of year	$	1,571,569		$	1,427,057		$	1,289,148
Depreciation for year		176,047			164,200			154,906
Disposals		(94,717	)		(19,688	)		(16,997	)
Balance at end of year	$	1,652,899		$	1,571,569		$	1,427,057