Urstadt Biddle Properties (UBA) 8-K Results of Operations and Financial Condition

Exhibit 99.1

URSTADT BIDDLE PROPERTIES INC. SUPPLEMENTAL INFORMATION JULY 31, 2018

URSTADT BIDDLE PROPERTIES INC

321 RAILROAD AVENUE GREENWICH, CT 06830

203-863-8225

URSTADT BIDDLE PROPERTIES INC. SUPPLEMENTAL INFORMATION JULY 31, 2018

TABLE OF CONTENTS

1.	PROPERTY PORTFOLIO
2.	INVESTMENT PROPERTY SAME STORE OPERATING INCOME - THREE AND NINE MONTHS PERIOD ENDED JULY 31, 2018 AND 2017
3.	NEW AND RENEWAL LEASING STATISTICS - ROLLING 4 QUARTERS ENDED JULY 31, 2018

URSTADT BIDDLE PROPERTIES INC. PROPERTY PORTFOLIO - DETAIL  JULY 31, 2018

																												3-Mile Radius
								Gross Leasable Area						Percentage Leased								Annualized Base Rent PSF for Leased Space						Total Population		Number of Households		Median Household Income		Average Household Income
Property Location	Property Name	Anchor Tenant's	% Owned			Year Acquired		Anchors		Shops		Total		Anchors		Shops			Total			Anchors		Shops		Total
Connecticut
Stamford	Ridgeway	Stop & Shop Supermarket		100	%		2002		72,000		302,114		374,114	100.00	%		94.56	%		95.61	%	$	30.46	$	30.10	$	30.17		136,893		54,064	$	99,386	$	132,926
Stratford	The Dock	Stop & Shop Supermarket / BJ's Wholesale		100	%		2005		167,754		110,731		278,485	100.00	%		100.00	%		100.00	%	$	16.93	$	20.55	$	18.37		159,189		57,549		49,699		60,780
New Milford	New Milford Plaza	Wal-Mart / Stop & Shop Supermarket		100	%		2010		177,028		58,216		235,244	100.00	%		91.41	%		97.87	%	$	6.52	$	14.76	$	8.43		14,872		6,076		77,162		106,559
Danbury₂	Danbury Square	Christmas Tree Shops		100	%		1995		47,555		146,407		193,962	100.00	%		97.55	%		98.15	%	$	24.90	$	16.48	$	18.59		53,170		18,874		73,022		88,228
Darien	Goodwives	Stop & Shop Supermarket		100	%		1998		42,083		53,704		95,787	100.00	%		97.84	%		98.79	%	$	29.73	$	37.65	$	34.13		36,064		13,530		165,794		229,507
Stamford	High Ridge Center	Trader Joe's Supermarket/DSW Shoe Warehouse		9	%		2017		37,211		50,064		87,275	100.00	%		100.00	%		100.00	%	$	31.56	$	57.87	$	46.66		52,642		19,404		150,097		193,497
New Milford	Veteran's Plaza	Big Y Supermarket		100	%		2008		55,450		25,821		81,271	100.00	%		74.90	%		92.02	%	$	7.95	$	19.67	$	10.98		17,242		6,937		77,096		101,180
Orange	Orange Meadows	Trader Joe's Supermarket		100	%		2003		11,553		65,964		77,517	100.00	%		95.35	%		96.05	%	$	22.03	$	19.04	$	19.51		50,060		20,318		90,440		109,062
Stamford	Newfield Green	Grade A Market		100	%		2016		30,780		43,308		74,088	100.00	%		85.90	%		91.76	%	$	21.86	$	48.96	$	36.69		128,501		50,794		96,887		129,256
New Milford	Fairfield Plaza	TJ Max		100	%		2011		25,257		46,730		71,987	100.00	%		89.45	%		93.15	%	$	13.00	$	14.85	$	14.15		15,276		6,225		78,010		106,628
Fairfield	Fairfield Center	Marshalls		100	%		2011		32,714		28,939		61,653	100.00	%		100.00	%		100.00	%	$	22.28	$	23.77	$	22.98		37,074		12,619		158,278		232,883
Ridgefield	Ridgefield	N/A		100	%		1998		-		62,230		62,230	0.00	%		90.86	%		90.86	%	$	-	$	24.63	$	24.63		21,178		7,780		156,884		220,216
Greenwich Offices	Various	Various		100	%	Various			-		57,923		57,923	0.00	%		94.79	%		94.79	%	$	-	$	31.71	$	31.71		71,942		26,662		127,832		195,321
Greenwich	Cos Cob Commons	CVS		100	%		2014		15,629		32,018		47,647	100.00	%		100.00	%		100.00	%	$	63.85	$	40.24	$	47.98		66,066		24,292		140,188		220,157
Westport	Greens Farm	N/A		100	%		2003		-		39,654		39,654	0.00	%		64.44	%		64.44	%	$	-	$	28.10	$	28.10		32,716		12,072		163,656		254,366
Greenwich	Kings Shopping Center	Kings Supermarket		100	%		2014		18,432		20,797		39,229	100.00	%		90.72	%		95.08	%	$	27.50	$	37.94	$	32.78		96,677		39,204		104,874		149,806
Derby	Aldi Square	Aldi Supermarket		100	%		2017		17,036		21,717		38,753	100.00	%		83.89	%		90.97	%	$	10.59	$	18.83	$	14.85		53,172		21,856		70,843		82,478
Danbury	Airport Plaza	Buffalo Wild Wings		100	%		2002		8,116		24,572		32,688	100.00	%		100.00	%		100.00	%	$	26.95	$	28.95	$	28.45		54,173		19,233		72,988		88,266
Bethel	The Hub	Rite Aid & Nutmeg Liquors		100	%		2014		21,480		9,460		30,940	100.00	%		61.95	%		88.36	%	$	21.65	$	30.64	$	23.57		64,257		23,249		69,273		82,372
Stamford	970 High Ridge	FedEx Office		100	%		2016		6,734		20,599		27,333	100.00	%		100.00	%		100.00	%	$	42.00	$	29.97	$	32.93		61,214		23,398		139,796		182,001
Ridgefield	Yankee Ridge Center	N/A		100	%		2018		-		24,172		24,172	0.00	%		71.97	%		71.97	%	$	-	$	27.78	$	27.78		21,323		7,794		160,155		223,382
Greenwich	Cos Cob Plaza	Jos. A Banks Clothing		100	%		2013		4,025		10,880		14,905	100.00	%		100.00	%		100.00	%	$	41.00	$	42.50	$	42.10		73,417		27,863		128,798		201,766
Monroe	Starbuck's Plaza	Starbucks		100	%		2007		1,658		8,483		10,141	100.00	%		100.00	%		100.00	%	$	38.50	$	22.10	$	24.78		15,770		5,600		124,589		154,374
Greenwich	Greenwich Commons	Wells Fargo		100	%		2013		2,400		7,344		9,744	100.00	%		100.00	%		100.00	%	$	80.00	$	82.55	$	81.93		71,942		26,662		127,832		195,321
Greenwich	Old Greenwich - CVS	CVS		9	%		2017		8,000		-		8,000	100.00	%		0.00	%		100.00	%	$	26.24	$	-	$	26.24		102,766		40,215		108,839		154,162
Stamford	High Ridge - Chase	Chase Bank		9	%		2017		4,160		-		4,160	100.00	%		0.00	%		100.00	%	$	72.28	$	-	$	72.28		54,667		20,341		142,800		185,482
Unionville	Unionville Family Restaurant	Unionville Family Restaurant		100	%		2013		2,530		-		2,530	100.00	%		0.00	%		100.00	%	$	21.34	$	-	$	21.34		69,946		28,146		85,777		110,025
									809,585		1,271,847		2,081,432	100.00	%		93.3	%		95.9	%	$	19.59	$	27.85	$	24.50
New York		��
Ossining	Arcadian	Stop & Shop Supermarket		100	%		1998		64,858		72,399		137,257	100.0	%		95.2	%		97.5	%	$	12.13	$	25.13	$	18.83		40,154		13,453		105,254		138,823
Somers	Somers Commons	Home Goods		100	%		2003		30,000		104,760		134,760	100.0	%		93.1	%		94.7	%	$	19.00	$	22.77	$	21.88		34,896		12,975		106,468		129,492
Carmel	Carmel ShopRite Center	ShopRite Supermarket		100	%		1995		48,806		80,078		128,884	100.0	%		93.1	%		95.7	%	$	12.00	$	17.69	$	15.44		18,629		6,802		92,445		111,446
Yorktown	Staples Plaza	Staples		100	%		2005		15,322		105,434		120,756	100.0	%		66.2	%		70.5	%	$	18.15	$	22.45	$	21.68		34,435		12,202		109,137		132,635
Somers	Towne Centre at Somers	CVS		100	%		1999		14,013		66,401		80,414	100.0	%		85.6	%		88.1	%	$	29.04	$	29.16	$	29.13		20,617		7,898		120,777		161,566
Orangeburg	Orangetown Shopping Center	CVS		44	%		2012		12,410		61,868		74,278	100.0	%		84.4	%		87.0	%	$	29.98	$	19.15	$	21.23		35,790		12,111		110,960		147,597
Eastchester	Eastchester Mall	Acme Supermarket		100	%		1997		29,754		40,132		69,886	100.0	%		100.0	%		100.0	%	$	10.00	$	39.74	$	27.08		111,032		42,148		148,471		201,929
Yonkers	McLean Shopping Center	Acme Supermarket		53	%		2014		35,000		22,989		57,989	100.0	%		100.0	%		100.0	%	$	2.20	$	49.22	$	20.84		558,021		210,954		52,624		66,633
Briarcliff Manor	Chilmark	CVS		100	%		2001		13,900		32,838		46,738	100.0	%		88.3	%		91.8	%	$	36.00	$	32.30	$	33.50		44,964		15,241		110,115		146,290
Rye	Rye Portfolio	N/A		100	%		2004		-		38,782		38,782	0.0	%		100.0	%		100.0	%	$	-	$	36.05	$	36.05		80,563		28,216		114,718		169,453
Ossining	Rockledge	Westchester Community College		100	%		1999		12,558		16,449		29,007	100.0	%		78.9	%		88.1	%	$	17.25	$	22.73	$	20.04		40,154		13,453		105,254		138,823
Katonah	Village Commons	Katonah Pharmacy		100	%		2010		2,836		25,152		27,988	100.0	%		87.2	%		88.5	%	$	42.75	$	41.59	$	41.72		14,845		4,859		137,695		214,827
Yonkers	Tanglewood Shopping Center	Autozone		100	%		2018		8,300		18,675		26,975	100.0	%		100.0	%		100.0	%	$	31.08	$	36.74	$	35.00		136,577		51,734		131,564		184,765
Harrison	Harrison Shopping Center	Key Food		100	%		2015		12,018		14,175		26,193	100.0	%		94.9	%		97.3	%	$	22.83	$	41.05	$	32.46		69,354		24,658		129,782		192,316
Pelham	Pelham	Mason Supermarket		100	%		2006		10,000		14,915		24,915	100.0	%		100.0	%		100.0	%	$	20.00	$	38.50	$	31.07		310,275		117,961		63,379		81,026
Eastchester	Eastchester Plaza	CVS		100	%		2012		13,506		10,195		23,701	100.0	%		100.0	%		100.0	%	$	30.50	$	37.41	$	33.47		176,985		68,404		113,045		146,913
Somers	Heritage 202	Putnam County Savings Bank		100	%		1992		3,184		16,074		19,258	100.0	%		100.0	%		100.0	%	$	45.50	$	28.08	$	30.96		21,362		8,141		120,380		160,786
Bronxville & Yonkers	N/A	People's United Bank / JP Morgan Chase Bank		100	%		2008 & 2009		16,527		2,278		18,805	100.0	%		100.0	%		100.0	%	$	27.25	$	32.50	$	27.89		254,868		97,349		77,713		95,179
Carmel	Friendly's - Carmel	N/A		100	%		2013		-		3,660		3,660	0.0	%		0.0	%		0.0	%	$	-	$	-	$	-		18,629		6,802		92,445		111,446
Kingston	Kingston	Taste of Italy		100	%		2013		3,372		-		3,372	100.0	%		0.0	%		100.0	%	$	25.65	$	-	$	25.65		19,113		7,864		49,465		59,514
New City	New City Pad	Putnam County Savings Bank		75	%		2018		2,596		-		2,596	100.0	%		0.0	%		100.0	%	$	47.80	$	-	$	47.80		66,899		20,190		123,884		150,155
									348,960		747,254		1,096,214	100.0	%		88.5	%		92.2	%	$	17.66	$	27.95	$	24.40
Note 1 - Demographics provided by Applied Geographic Solutions, 4/2017
Note 2 - Leased square footage includes 65,700 of square feet for Toy's "R" Us and Babies "R" Us at zero rent
New Jersey
Midland Park	Midland Park Shopping Center	Kings Supermarket		100	%		2015		29,550		100,775		130,325	100.0	%		96.1	%		97.0	%	$	21.29	$	25.10	$	24.21		31,425		12,560		97,000		118,124
Pompton Lakes	Pompton Lakes Town Square	N/A		100	%		2015		62,845		62,368		125,213	0.0	%		95.0	%		47.3	%	$	-	$	22.82	$	22.82		52,154		19,970		95,525		113,500
New Providence	Village Shopping Center	Acme Supermarket		100	%		2013		45,464		63,163		108,627	100.0	%		94.3	%		96.7	%	$	21.75	$	31.60	$	27.34		63,679		22,814		159,355		215,818
Newark	Ferry Plaza	Seabra Foods		84	%		2008		63,433		44,435		107,868	100.0	%		87.4	%		94.8	%	$	14.00	$	28.77	$	19.61		217,867		73,560		44,453		55,142
Wayne	Valley Ridge	N/A		100	%		1992		36,000		66,125		102,125	0.0	%		89.3	%		57.8	%	$	-	$	32.42	$	32.42		119,265		40,190		77,785		97,354
Emerson	Shop Rite Plaza	ShopRite Supermarket		100	%		2007		53,450		39,212		92,662	100.0	%		47.8	%		77.9	%	$	9.20	$	29.78	$	14.54		51,833		18,303		141,152		183,032
Kinnelon	Meadtown Shopping Center	Marshall's		100	%		2015		24,511		52,360		76,871	100.0	%		97.7	%		98.4	%	$	16.00	$	25.28	$	22.27		31,425		12,560		97,000		118,124
Dumont	Washington Commons	Stop & Shop Supermarket		31	%		2017		44,282		29,905		74,187	100.0	%		100.0	%		100.0	%	$	19.45	$	27.81	$	22.82		151,323		51,459		115,341		151,379
Boonton	Boonton Acme Center	Acme Supermarket		100	%		2014		49,463		13,278		62,741	100.0	%		100.0	%		100.0	%	$	21.37	$	33.41	$	23.92		48,593		18,680		107,522		133,232
Bloomfield	Bloomfield Crossing	Walgreen's / Superfresh Supermarket		100	%		2014		42,548		16,688		59,236	100.0	%		85.3	%		95.9	%	$	13.04	$	32.89	$	18.02		410,215		150,952		49,784		60,330
Wyckoff	Cedar Hill Shopping Center	Walgreen's		100	%		2015		15,960		27,410		43,370	100.0	%		88.1	%		92.5	%	$	22.46	$	31.29	$	27.78		80,559		29,162		131,337		174,572
Passaic	Van Houton Farms	N/A		100	%		2017		30,569		5,950		36,519	0.0	%		100.0	%		16.3	%	$	-	$	28.98	$	28.98		283,855		98,455		71,417		86,988
Waldwick	Waldwick Plaza	United States Postal Service		100	%		2017		5,567		20,954		26,521	100.0	%		100.0	%		100.0	%	$	25.00	$	25.76	$	25.60		77,853		26,813		149,819		196,890
Waldwick	Waldwick Rite Aid	Rite Aid		100	%		2007		20,000		-		20,000	100.0	%		0.0	%		100.0	%	$	26.22	$	-	$	26.22		77,151		26,993		142,404		191,616
Bernardsville	Bernards Square Office Building	N/A		100	%		2013		-		14,405		14,405	0.0	%		82.6	%		82.6	%	$	-	$	25.95	$	25.95		19,059		6,593		145,235		207,918
Chester	Rainbow Childcare Center	Rainbow Child Care Center		100	%		2013		9,120		-		9,120	100.0	%		0.0	%		100.0	%	$	19.00	$	-	$	19.00		113,138		43,096		64,612		75,840
Fort Lee	H-Mart Plaza	H-Mart		100	%		2015		7,000		-		7,000	100.0	%		0.0	%		100.0	%	$	40.01	$	-	$	40.01		544,873		208,367		60,466		76,752
Bloomfield	Friendly's - Bloomfield	Friendly's		100	%		2013		2,630		-		2,630	100.0	%		0.0	%		100.0	%	$	45.46	$	-	$	45.46		410,215		150,952		49,784		60,330
Hillsdale	Friendly's - Hillsdale	Friendly's		100	%		2013		2,457		-		2,457	100.0	%		0.0	%		100.0	%	$	35.87	$	-	$	35.87		76,705		27,153		119,354		136,990
									544,849		557,028		1,101,877	76.2	%		90.4	%		83.4	%	$	18.16	$	27.92	$	23.51
New Hampshire
Newington	Newington Plaza	Savers		100	%		1979		27,167		74,936		102,103	100.0	%		96.4	%		97.3	%	$	10.80	$	18.41	$	16.33		20,170		10,112		81,372		99,216
Total Consolidated									1,730,561		2,651,065		4,381,626	92.5	%		91.4	%		91.9	%	$	18.65	$	27.61	$	24.05
Unconsolidated Joint Ventures
Scarsdale, NY	Midway Shopping Center	ShopRite Supermarket		12	%		2010		73,758		176,009		249,767	100.0	%		98.9	%		99.24	%	$	15.65	$	33.17	$	27.96		112,572		42,501		137,766		182,011
Riverhead, NY	Gateway Plaza	Walmart		50	%		2014		167,951		30,283		198,234	100.0	%		87.5	%		98.09	%	$	6.15	$	25.19	$	8.75		17,974		6,647		59,809		76,582
Carmel, NY	Putnam Plaza	Tops Markets		67	%		2010		60,858		128,536		189,394	100.0	%		95.4	%		96.88	%	$	7.98	$	18.48	$	15.00		21,071		7,615		92,755		111,385
Montvale, NJ	Chestnut Ridge	The Fresh Market Inc.		50	%		2013		19,205		57,130		76,335	100.0	%		81.1	%		85.84	%	$	24.34	$	29.98	$	28.33		51,833		18,303		141,152		183,032
Spring Valley, NY	Plaza 59	Spring Valley Foods Inc.		50	%		2013		3,355		21,000		24,355	100.0	%		92.9	%		93.84	%	$	42.29	$	35.10	$	36.16		133,837		36,129		77,114		93,306
Riverhead, NY	Applebee's Plaza	Applebee's		50	%		2014		5,363		7,200		12,563	100.0	%		100.0	%		100.00	%	$	26.90	$	33.28	$	30.55		17,974		6,647		59,809		76,582
Total Unconsolidated									330,490		420,158		750,648	100.0	%		94.3	%		96.8	%	$	10.37	$	27.82	$	19.88
Total Core Portfolio									2,061,051		3,071,223		5,132,274	93.7	%		91.8	%		92.6	%	$	17.23	$	27.64	$	23.41
Note 1 - Demographics provided by Applied Geographic Solutions, 4/2016
Note 2 - Leased square footage includes 65,700 of square feet for Toy's "R" Us and Babies "R" Us at zero rent

1

URSTADT BIDDLE PROPERTIES INC. CORE PORTFOLIO SAME-STORE OPERATING INCOME DISCLOSURE JULY 31, 2018

	Nine Months Ended July 31,									Three Months Ended July 31,
	2018			2017			% Change				2018			2017		% Change
Same-Store Operating Results:
Number of Properties (Note 3)	67									67
Revenue (Note 2)
Minimum Rent	$	64,815		$	63,321			2.4	%	$	21,368		$	21,128			1.1	%
Recoveries from tenants		21,665			20,495			5.7	%		6,536			6,436			1.6	%
Other property income		858			584			46.8	%		201			177			13.1	%
		87,339			84,400			3.5	%		28,105			27,741			1.3	%
Expenses
Property operating		10,494			9,637			8.9	%		2,595			2,562			1.3	%
Property taxes		14,419			13,964			3.3	%		4,882			4,659			4.8	%
Other non-recoverable operating expenses		1,555			1,225			26.9	%		668			372			79.4	%
		26,468			24,826			6.6	%		8,145			7,593			7.3	%
Same-Store Net Operating Income	$	60,870		$	59,573			2.2	%	$	19,960		$	20,148			-0.9	%
Other reconciling items:
Other non same-property net operating income		5,845			1,841						1,988			1,391
Other Interest income		195			539						51			190
Consolidated lease termination income		3,790			2,431						36			2,148
Consolidated amortization of above and below market leases		1,097			114						832			19
Consolidated straight line rent income		830			118						550			(243	)
Equity in net income of unconsolidated joint ventures		1,710			1,478						483			439
Taxable REIT subsidiary income/(loss)		18			(328	)					(93	)		(46	)
Solar income/(loss)		(145	)		(126	)					7			44
Storage income/(loss)		597			423						211			159
Interest expense		(10,178	)		(9,800	)					(3,439	)		(3,284	)
General and administrative expenses		(7,024	)		(6,893	)					(2,322	)		(2,226	)
Provision for tenant credit losses		(674	)		(429	)					(302	)		(69	)
Directors fees and expenses		(267	)		(240	)					(79	)		(74	)
Acquisition costs (non included in net operating income)		-			-						-			-
Depreciation and amortization		(21,287	)		(19,442	)					(7,370	)		(6,678	)
Adjustment for intercompany expenses and other		(2,496	)		(2,296	)					(734	)		(617	)
Total other -net		(27,989	)		(32,609	)					(10,180	)		(8,846	)
Income from continuing operations		32,881			26,964			21.9	%		9,780			11,302			-13.5	%
Gain on sale of real estate		-			18,772						-			(688	)
Net income		32,881			45,736			-28.1	%		9,780			10,614			-7.9	%
Net income attributable to noncontrolling interests		(3,595	)		(1,451	)					(1,138	)		(982	)
Net income attributable to Urstadt Biddle Properties Inc.		29,286			44,285			-33.9	%		8,642			9,632			-10.3	%
Same-Store Operating Expense Ratio (Note 1)		87.0	%		86.8	%		0.1	%		87.4	%		89.1	%		-1.9	%

Note 1 -	Represents the percentage of property operating expense and real estate tax expense recovered from tenants under operating leases
Note 2 -	Excludes straight line rent, above/below market lease rent, lease termination income
Note 3 -	Includes only properties owned for the entire period of both periods presented

Non-GAAP Financial Measure - Net Operating Income:

We present Net Operating Income ("NOI"), which is a non-GAAP financial measure. The most directly comparable GAAP financial measure is income from continuing operations which, to calculate NOI, is adjusted to add back depreciation and amortization, general and administrative expense, interest expense, amortization of above and below-market lease intangibles and to exclude straight-line rent adjustments, investment income, equity in net income of unconsolidated joint ventures, gain/loss on sale of operating properties and other income. We use NOI internally as a performance measure and believe NOI provides useful information to investors regarding our financial condition and results of operations because it reflects only those income and expense items that are incurred at the property level. Our management also uses NOI to evaluate property level performance and to make decisions about resource allocations. Further, we believe NOI is useful to investors as a performance measure because, when compared across periods, NOI reflects the impact on operations from trends in occupancy rates, rental rates, operating costs and acquisition and disposition activity on an unleveraged basis, providing perspective not immediately apparent from income from continuing operations. NOI excludes certain components from net income attributable to Urstadt Biddle Properties Inc. in order to provide results that are more closely related to a property's results of operations. For example, interest expense is not necessarily linked to the operating performance of a real estate asset and is often incurred at the corporate level as opposed to the property level. In addition, depreciation and amortization, because of historical cost accounting and useful life estimates, may distort operating performance at the property level. NOI presented by us may not be comparable to NOI reported by other REITs that define NOI differently. We believe that in order to facilitate a clear understanding of our operating results, NOI should be examined in conjunction with income from continuing operations as presented in our consolidated financial statements. NOI should not be considered as an alternative to income from continuing operations as an indication of our performance or to cash flows as a measure of liquidity or our ability to make dividend payments.

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URSTADT BIDDLE PROPERTIES INC. LEASING ACTIVITY JULY 31, 2018

 

	Leases		Square		New Rent		Prior Rent		Cash Basis
	Signed		Feet		Per Sq. Ft (a)		Per Sq. Ft. (a)		Change
Total Comparable Leases:
3rd Quarter 2018		48		103,061	$	37.92	$	37.87		0.1	%
2nd Quarter 2018		50		206,377	$	21.27	$	21.02		1.2	%
1st Quarter 2018		45		107,977	$	32.37	$	31.43		3.0	%
4th Quarter 2017		39		105,518	$	25.40	$	24.85		2.2	%
Totals		182		522,933	$	27.68	$	27.26		1.5	%
New Leases - Comparable:
3rd Quarter 2018		12		15,053	$	33.73	$	38.07		-11.4	%
2nd Quarter 2018		16		87,450	$	16.65	$	22.32		-25.4	%	(b)
1st Quarter 2018		13		23,164	$	27.47	$	27.63		-0.6	%
4th Quarter 2017		6		8,713	$	17.87	$	19.53		-8.5	%
Totals		47		134,380	$	20.51	$	24.82		-17.4	%
Renewals - Comparable:
3rd Quarter 2018		36		88,008	$	38.64	$	37.83		2.1	%
2nd Quarter 2018		34		118,927	$	24.67	$	20.07		22.9	%	(c)
1st Quarter 2018		32		84,813	$	33.70	$	32.47		3.8	%
4th Quarter 2017		33		96,805	$	26.07	$	25.33		2.9	%
Totals		135		388,553	$	30.15	$	28.11		7.3	%

(a)	New rent per sq. ft. represents the minimum cash rent under the new lease for the first 12 months of the term. Prior rent per sq. ft. represents the minimum cash rent under the prior lease for the last 12 months of the previous term.
(b)	Includes new grocery store lease signed at our Ferry Plaza Property with Seabra Foods at a 30% reduction from the prior grocery store tenant Acme, who terminated their lease with us early in exchange for a $3.7 million lease termination payment. The new Seabra lease also has an achievable percentage rent clause that we hope will provide additional rent once the new store operations mature.
(c)	Includes the renewal of Stop and Shop at our Arcadian property, the renewal term is for 15 years and includes 10% rent increases every five years. The new rent during the first five year term is 72% higher than the expiring rent. The renewal is effective on November 1, 2018.

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