EXHIBIT 99.2
Supplemental Financial Information |
March 31, 2006 |
(Unaudited) |
Table of Contents | Page No. | |||
Corporate Profile | 1 | |||
Statements of Consolidated Income | 2 | |||
Consolidated Balance Sheets | 3 | |||
Statements of Consolidated Income at Prorata Share | 4 | |||
Consolidated Balance Sheets at Prorata Share | 5 | |||
Summary Operating Data | 6 - 7 | |||
Funds from Operations | ||||
Dividends | ||||
General and Administrative Expenses | ||||
Net Operating Income | ||||
Rentals | ||||
Interest Expense | ||||
Property | ||||
Financial Statements of Unconsolidated Joint Ventures at Prorata Share | 8 | |||
Summary Balance Sheet Information | 9 | |||
Common Share Data | ||||
Capitalization | ||||
Capital Availability | ||||
Credit Ratings | ||||
Debt Information | 10 - 11 | |||
Outstanding Balance Summary | ||||
Fixed vs Variable Rate Debt | ||||
Secured vs Unsecured Debt | ||||
Coverage Ratios | ||||
Weighted Average Interest Rates | ||||
Schedule of Maturities | ||||
Other Information | 12 - 13 | |||
Tenant Diversification | ||||
Lease Information | ||||
Leasing Production | ||||
Average Minimum Rent per Square Foot | ||||
Occupancy | ||||
Property Information | 14 - 29 | |||
Property Investment Summary | ||||
Acquisition Summary | ||||
Disposition Summary | ||||
New Development Summary | ||||
Total Operating Income at Prorata Share by Geographic Region | ||||
Property Listing | ||||
This supplemental financial information package contains historical information of the Company. | ||||
Certain information contained in this Supplemental Financial Information package includes certain | ||||
forward-looking statements reflecting Weingarten Realty Investors’ expectations in the near term | ||||
that involve a number of risks and uncertainties; however, many factors may materially affect | ||||
the actual results, including demand for our properties, changes in rental and occupancy rates, | ||||
changes in property operating costs, interest rate fluctuations, and changes in local and general | ||||
economic conditions. Accordingly, there is no assurance that WRI’s expectations will be realized. |
Corporate Profile | ||
Weingarten Realty Investors is an unincorporated trust organized under the Texas Real Estate Investment Trust Act | ||
that, through its predecessor entity, began the ownership and development of shopping centers and other commercial | ||
real estate in 1948. As of March 31, 2006, we owned or operated under long-term leases, interests in 350 | ||
developed income-producing properties and nine properties that are in various stages of development, which are | ||
located in 21 states that span the southern half of the United States from coast to coast. Included in the portfolio are | ||
294 shopping centers and 65 industrial projects. Our interests in these properties aggregated approximately 48.6 | ||
million square feet of building area. Our properties were 94.4% leased as of March 31, 2006, and historically our | ||
portfolio occupancy rate has never been below 90%. | ||
Corporate Office | ||
2600 Citadel Plaza Drive | ||
P. O. box 924133 | ||
Houston, TX 77292-4133 | ||
713-866-6000 | ||
www.weingarten.com | ||
Regional Offices | ||
Atlanta, GA | ||
Austin, TX | ||
Dallas, TX | ||
Denver, CO (Miller Weingarten) | ||
Ft. Lauderdale, FL | ||
Las Vegas, NV | ||
Los Angeles, CA | ||
Orlando, FL | ||
Phoenix, AZ | ||
Raleigh, NC | ||
Sacramento, CA | ||
Stock Listings | ||
New York Stock Exchange: | ||
Common Shares WRI | ||
Series D Preferred Shares WRIPrD | ||
Series E Preferred Shares WRIPrE |
Page 1
Weingarten Realty Investors | |||||||||||||||||||
Statements of Consolidated Income | |||||||||||||||||||
(in thousands, except per share amounts) | |||||||||||||||||||
(as reported) | |||||||||||||||||||
Three Months Ended | |||||||||||||||||||
March 31, | Twelve Months Ended December 31, | ||||||||||||||||||
2006 | 2005 | 2005 | 2004 | 2003 | 2002 | ||||||||||||||
Revenues: | |||||||||||||||||||
Rentals | $ | 138,687 | $ | 128,726 | $ | 531,220 | $ | 477,797 | $ | 390,135 | $ | 336,731 | |||||||
Other | 2,242 | 828 | 6,677 | 8,745 | 6,965 | 5,044 | |||||||||||||
Total | 140,929 | 129,554 | 537,897 | 486,542 | 397,100 | 341,775 | |||||||||||||
Expenses: | |||||||||||||||||||
Depreciation and amortization | 32,542 | 29,493 | 124,312 | 110,729 | 87,410 | 71,835 | |||||||||||||
Operating | 19,824 | 18,890 | 81,162 | 75,838 | 61,743 | 52,127 | |||||||||||||
Ad valorem taxes | 16,691 | 15,567 | 62,483 | 55,287 | 44,694 | 41,107 | |||||||||||||
General and administrative | 5,355 | 4,247 | 17,379 | 16,122 | 13,820 | 11,148 | |||||||||||||
Impairment loss | 3,550 | ||||||||||||||||||
Total | 74,412 | 68,197 | 285,336 | 261,526 | 207,667 | 176,217 | |||||||||||||
Operating Income | 66,517 | 61,357 | 252,561 | 225,016 | 189,433 | 165,558 | |||||||||||||
Interest Expense | (34,437 | ) | (31,036 | ) | (130,761 | ) | (117,096 | ) | (90,269 | ) | (67,171 | ) | |||||||
Interest Income | 1,467 | 319 | 2,870 | 1,390 | 1,580 | 1,054 | |||||||||||||
Loss on Redemption of Preferred Shares | (3,566 | ) | (2,739 | ) | |||||||||||||||
Equity in Earnings of Joint Ventures, net (a) | 4,066 | 1,274 | 6,610 | 5,384 | 4,681 | 3,930 | |||||||||||||
Income Allocated to Minority Interests | (1,657 | ) | (1,400 | ) | (6,060 | ) | (4,928 | ) | (2,723 | ) | (3,553 | ) | |||||||
Gain (Loss) on Sale of Properties | 90 | (27 | ) | 22,306 | 1,535 | 714 | 188 | ||||||||||||
Gain on Land and Merchant Development Sales | 1,676 | 804 | |||||||||||||||||
Provision for Income Taxes | (519 | ) | |||||||||||||||||
Income From Continuing Operations | 37,203 | 30,487 | 148,330 | 107,735 | 100,677 | 100,006 | |||||||||||||
Operating Income From Discontinued Operations | 358 | 1,960 | 5,864 | 8,763 | 9,564 | 12,389 | |||||||||||||
Gain on Sale of Properties From Discontinued Operations | 17,048 | 4,115 | 65,459 | 24,883 | 6,039 | 19,472 | |||||||||||||
Income From Discontinued Operations | 17,406 | 6,075 | 71,323 | 33,646 | 15,603 | 31,861 | |||||||||||||
Net Income | 54,609 | 36,562 | 219,653 | 141,381 | 116,280 | 131,867 | |||||||||||||
Preferred Share Dividends | (2,525 | ) | (2,525 | ) | (10,101 | ) | (7,470 | ) | (15,912 | ) | (19,756 | ) | |||||||
Redemption Cost of Series A Preferred Shares | (2,488 | ) | |||||||||||||||||
Net Income Available to Common Shareholders | $ | 52,084 | $ | 34,037 | $ | 209,552 | $ | 133,911 | $ | 97,880 | $ | 112,111 | |||||||
Net Income Per Common Share - Basic | $ | 0.58 | $ | 0.38 | $ | 2.35 | $ | 1.55 | $ | 1.24 | $ | 1.44 | |||||||
Net Income Per Common Share - Diluted | $ | 0.57 | $ | 0.38 | $ | 2.31 | $ | 1.54 | $ | 1.24 | $ | 1.43 | |||||||
(a) See Page 8 for the Company's prorata share of the operating results of its unconsolidated joint ventures. |
Page 2
Weingarten Realty Investors | |||||||
Consolidated Balance Sheets | |||||||
(in thousands, except per share amounts) | |||||||
(as reported) | |||||||
March 31, | December 31, | ||||||
2006 | 2005 | ||||||
ASSETS | |||||||
Property | $ | 4,059,431 | $ | 4,033,579 | |||
Accumulated Depreciation | (691,120 | ) | (679,642 | ) | |||
Property - net | 3,368,311 | 3,353,937 | |||||
Investment in Real Estate Joint Ventures (a) | 94,600 | 84,348 | |||||
Total | 3,462,911 | 3,438,285 | |||||
Notes Receivable from Real Estate Joint Ventures and Partnerships | 49,213 | 42,195 | |||||
Unamortized Debt and Lease Costs | 96,436 | 95,616 | |||||
Accrued Rent and Accounts Receivable (net of allowance for doubtful | |||||||
accounts of $4,963 in 2006 and $4,673 in 2005) | 48,984 | 60,905 | |||||
Cash and Cash Equivalents | 37,446 | 42,690 | |||||
Restricted Deposits and Mortgage Escrows | 31,879 | 11,747 | |||||
Other | 55,399 | 46,303 | |||||
Total | $ | 3,782,268 | $ | 3,737,741 | |||
LIABILITIES AND SHAREHOLDERS' EQUITY | |||||||
Debt | $ | 2,351,349 | $ | 2,299,855 | |||
Accounts Payable and Accrued Expenses | 69,546 | 102,143 | |||||
Other | 112,114 | 102,099 | |||||
Total | 2,533,009 | 2,504,097 | |||||
Minority Interest | 82,029 | 83,358 | |||||
Commitments and Contingencies | - | - | |||||
Shareholders' Equity: | |||||||
Preferred Shares of Beneficial Interest - par value, $.03 per share; | |||||||
shares authorized: 10,000 | |||||||
6.75% Series D cumulative redeemable preferred shares of | |||||||
beneficial interest; 100 shares issued and outstanding | |||||||
in 2006 and 2005; liquidation preference $75,000 | 3 | 3 | |||||
6.95% Series E cumulative redeemable preferred shares of | |||||||
beneficial interest; 29 shares issued and outstanding in 2006 | |||||||
and 2005; liquidation preference $72,500 | 1 | 1 | |||||
Common Shares of Beneficial Interest - par value, $.03 per share; | |||||||
shares authorized: 150,000; shares issued and outstanding: | |||||||
89,621 in 2006 and 89,403 in 2005 | 2,698 | 2,686 | |||||
Additional Paid in Capital | 1,291,092 | 1,288,432 | |||||
Accumulated Dividends in Excess of Net Income | (122,351 | ) | (132,786 | ) | |||
Accumulated Other Comprehensive Loss | (4,213 | ) | (8,050 | ) | |||
Shareholders' Equity | 1,167,230 | 1,150,286 | |||||
Total | $ | 3,782,268 | $ | 3,737,741 | |||
(a) This represents the Company's investment of its unconsolidated joint ventures. See page 8 for additional information. |
Page 3
Weingarten Realty Investors | |||||||||||||||||||
Statements of Consolidated Income at Prorata Share | |||||||||||||||||||
(in thousands, except per share amounts) | |||||||||||||||||||
Three Months Ended | |||||||||||||||||||
March 31, | Twelve Months Ended December 31, | ||||||||||||||||||
2006 | 2005 | 2005 | 2004 | 2003 | 2002 | ||||||||||||||
Revenues: | |||||||||||||||||||
Rentals | $ | 140,287 | $ | 129,233 | $ | 535,484 | $ | 479,324 | $ | 390,680 | $ | 341,160 | |||||||
Other | 2,292 | 905 | 6,839 | 8,498 | 7,144 | 5,146 | |||||||||||||
Total | 142,579 | 130,138 | 542,323 | 487,822 | 397,824 | 346,306 | |||||||||||||
Expenses: | |||||||||||||||||||
Depreciation and amortization | 32,719 | 29,475 | 124,421 | 110,440 | 85,831 | 72,043 | |||||||||||||
Operating | 19,901 | 18,774 | 80,954 | 75,711 | 61,592 | 52,318 | |||||||||||||
Ad valorem taxes | 16,805 | 15,670 | 62,808 | 55,334 | 44,850 | 41,621 | |||||||||||||
General and administrative | 5,367 | 4,257 | 17,436 | 16,125 | 13,821 | 11,145 | |||||||||||||
Impairment loss | 3,550 | ||||||||||||||||||
Total | 74,792 | 68,176 | 285,619 | 261,160 | 206,094 | 177,127 | |||||||||||||
Operating Income | 67,787 | 61,962 | 256,704 | 226,662 | 191,730 | 169,179 | |||||||||||||
Interest Expense | (34,156 | ) | (30,727 | ) | (129,790 | ) | (115,357 | ) | (89,945 | ) | (68,981 | ) | |||||||
Interest Income | 1,747 | 561 | 3,643 | 2,553 | 3,633 | 3,266 | |||||||||||||
Loss on Redemption of Preferred Shares | (3,566 | ) | (2,739 | ) | |||||||||||||||
Income Allocated to Minority Interests | (1,399 | ) | (1,284 | ) | (5,218 | ) | (3,990 | ) | (3,236 | ) | (3,720 | ) | |||||||
Gain (Loss) on Sale of Properties | 1,651 | (25 | ) | 22,102 | 1,433 | 1,234 | 262 | ||||||||||||
Gain on Land and Merchant Development Sales | 2,092 | 889 | |||||||||||||||||
Provision for Income Taxes | (519 | ) | |||||||||||||||||
Income From Continuing Operations | 37,203 | 30,487 | 148,330 | 107,735 | 100,677 | 100,006 | |||||||||||||
Operating Income From Discontinued Operations | 358 | 1,960 | 5,864 | 8,763 | 9,564 | 12,389 | |||||||||||||
Gain on Sale of Properties From Discontinued Operations | 17,048 | 4,115 | 65,459 | 24,883 | 6,039 | 19,472 | |||||||||||||
Income From Discontinued Operations | 17,406 | 6,075 | 71,323 | 33,646 | 15,603 | 31,861 | |||||||||||||
Net Income | 54,609 | 36,562 | 219,653 | 141,381 | 116,280 | 131,867 | |||||||||||||
Preferred Share Dividends | (2,525 | ) | (2,525 | ) | (10,101 | ) | (7,470 | ) | (15,912 | ) | (19,756 | ) | |||||||
Redemption Cost of Series A Preferred Shares | (2,488 | ) | |||||||||||||||||
Net Income Available to Common Shareholders | $ | 52,084 | $ | 34,037 | $ | 209,552 | $ | 133,911 | $ | 97,880 | $ | 112,111 | |||||||
Net Income Per Common Share - Basic | $ | 0.58 | $ | 0.38 | $ | 2.35 | $ | 1.55 | $ | 1.24 | $ | 1.44 | |||||||
Net Income Per Common Share - Diluted | $ | 0.57 | $ | 0.38 | $ | 2.31 | $ | 1.54 | $ | 1.24 | $ | 1.43 | |||||||
Note: | |||||||||||||||||||
Prorata financial information is not, and is not intended to be, a presentation in accordance with generally accepted accounting principles. | |||||||||||||||||||
The Statements of Consolidated Income at Prorata Share include the real estate operations of joint ventures at WRI's ownership percentages | |||||||||||||||||||
ranging from 20% to 75% except for the operations of down-reit partnerships, which are included at 100%. |
Page 4
Weingarten Realty Investors | |||||||
Consolidated Balance Sheets at Prorata Share | |||||||
(in thousands, except per share amounts) | |||||||
March 31, | December 31, | ||||||
2006 | 2005 | ||||||
ASSETS | |||||||
Property | $ | 4,142,863 | $ | 4,098,780 | |||
Accumulated Depreciation | (692,853 | ) | (682,102 | ) | |||
Property - net | 3,450,010 | 3,416,678 | |||||
Notes Receivable from Real Estate Joint Ventures and Partnerships | 38,297 | 32,958 | |||||
Unamortized Debt and Lease Costs | 98,415 | 97,387 | |||||
Accrued Rent and Accounts Receivable (net of allowance for doubtful | |||||||
accounts of $5,332 in 2006 and $4,977 in 2005) | 47,576 | 59,838 | |||||
Cash and Cash Equivalents | 48,554 | 54,878 | |||||
Restricted Deposits and Mortgage Escrows | 31,403 | 11,082 | |||||
Other | 59,025 | 49,455 | |||||
Total | $ | 3,773,280 | $ | 3,722,276 | |||
LIABILITIES AND SHAREHOLDERS' EQUITY | |||||||
Debt | $ | 2,349,633 | $ | 2,288,145 | |||
Accounts Payable and Accrued Expenses | 65,689 | 101,616 | |||||
Other | 110,424 | 100,826 | |||||
Total | 2,525,746 | 2,490,587 | |||||
Minority Interest | 80,304 | 81,403 | |||||
Commitments and Contingencies | - | - | |||||
Shareholders' Equity: | |||||||
Preferred Shares of Beneficial Interest - par value, $.03 per share; | |||||||
shares authorized: 10,000 | |||||||
6.75% Series D cumulative redeemable preferred shares of | |||||||
beneficial interest; 100 shares issued and outstanding | |||||||
in 2006 and 2005; liquidation preference $75,000 | 3 | 3 | |||||
6.95% Series E cumulative redeemable preferred shares of | |||||||
beneficial interests; 29 shares issued and outstanding in 2006 | |||||||
and 2005; liquidation preference $72,500 | 1 | 1 | |||||
Common Shares of Beneficial Interest - par value, $.03 per share; | |||||||
shares authorized: 150,000; shares issued and outstanding: | |||||||
89,621 in 2006 and 89,403 in 2005 | 2,698 | 2,686 | |||||
Additional Paid in Capital | 1,291,092 | 1,288,432 | |||||
Accumulated Dividends in Excess of Net Income | (122,351 | ) | (132,786 | ) | |||
Accumulated Other Comprehensive Loss | (4,213 | ) | (8,050 | ) | |||
Shareholders' Equity | 1,167,230 | 1,150,286 | |||||
Total | $ | 3,773,280 | $ | 3,722,276 | |||
Note: | |||||||
Prorata financial information is not, and is not intended to be, a presentation in accordance with generally accepted accounting principles. | |||||||
The Consolidated Balance Sheets at Prorata Share include the real estate operations of joint ventures at WRI's ownership percentages | |||||||
ranging from 20% to 75% except for the operations of down-reit partnerships, which are included at 100%. |
Page 5
Weingarten Realty Investors | |||||||
Summary Operating Data | |||||||
(in thousands, except per share amounts) | |||||||
Three Months Ended | |||||||
March 31, | |||||||
2006 | 2005 | ||||||
Funds from Operations | |||||||
Numerator: | |||||||
Net income available to common shareholders | $ | 52,084 | $ | 34,037 | |||
Depreciation and amortization | 30,458 | 28,312 | |||||
Depreciation and amortization of unconsolidated joint ventures | 1,018 | 904 | |||||
Gain on sale of properties | (17,142 | ) | (4,091 | ) | |||
(Gain) loss on sale of properties of unconsolidated joint ventures | (1,557 | ) | 1 | ||||
Funds from Operations - Basic | 64,861 | 59,163 | |||||
Funds from operations attributable to operating | |||||||
partnership units | 2,372 | 2,072 | |||||
Funds from Operations - Diluted | $ | 67,233 | $ | 61,235 | |||
Denominator: | |||||||
Weighted average shares outstanding - Basic | 89,515 | 89,122 | |||||
Effect of dilutive securities: | |||||||
Share options and awards | 850 | 966 | |||||
Operating partnership units | 3,151 | 3,004 | |||||
Weighted average shares outstanding - Diluted | 93,516 | 93,092 | |||||
Funds from Operations per Share - Basic | $ | 0.72 | $ | 0.66 | |||
Funds from Operations Per Share - Diluted | $ | 0.72 | $ | 0.66 | |||
Growth in Funds from Operations per Share - Diluted | 9.1 | % | |||||
Dividends | |||||||
Common Dividends per Share | $ | 0.465 | $ | 0.440 | |||
Common Dividends Paid as a % of Funds from Operations | 64.2 | % | 66.3 | % | |||
General and Administrative Expenses * | |||||||
General and Administrative Expenses/Total Revenue | 3.8 | % | 3.3 | % | |||
General and Administrative Expenses/Total Assets before Depreciation | 0.12 | % | 0.10 | % | |||
Net Operating Income * | |||||||
Same Property NOI Growth: ** | |||||||
Retail | 4.5 | % | 3.6 | % | |||
Industrial | 4.2 | % | 2.8 | % | |||
Total | 4.4 | % | 3.5 | % | |||
* Includes the Company's share of unconsolidated joint ventures and excludes its partners' share of consolidated joint ventures ("Prorata Share"). | |||||||
** Same Property NOI Growth excludes the effect of lease cancellation income. | |||||||
The National Association of Real Estate Investment Trusts defines funds from operations as net income (loss) available to common shareholders | |||||||
computed in accordance with generally accepted accounting principles, excluding gains or losses from sales of real estate assets and | |||||||
extraordinary items, plus depreciation and amortization of operating properties, including our share of unconsolidated partnerships and joint | |||||||
ventures. We calculate FFO in a manner consistent with the NAREIT definition. | |||||||
We believe FFO is an appropriate supplemental measure of operating performance because it helps investors compare our operating performance | |||||||
relative to other REITs. Management also 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 6
Weingarten Realty Investors | |||||||
Summary Operating Data (continued) | |||||||
(in thousands) | |||||||
Three Months Ended | |||||||
March 31, | |||||||
2006 | 2005 | ||||||
Rentals | |||||||
Base minimum rent, net | $ | 110,029 | $ | 100,940 | |||
Straight line rent | 1,492 | 1,909 | |||||
Over/Under-market rentals, net | 166 | (17 | ) | ||||
Percentage rent | 1,472 | 1,086 | |||||
Tenant reimbursements | 25,528 | 24,808 | |||||
Total | $ | 138,687 | $ | 128,726 | |||
Three Months Ended | |||||||
March 31, | |||||||
2006 | 2005 | ||||||
Rentals (Prorata Share) | |||||||
Base minimum rent, net | $ | 111,351 | $ | 101,455 | |||
Straight line rent | 1,536 | 1,950 | |||||
Over/Under-market rentals, net | 224 | 30 | |||||
Percentage rent | 1,511 | 1,091 | |||||
Tenant reimbursements | 25,665 | 24,707 | |||||
Total | $ | 140,287 | $ | 129,233 | |||
Three Months Ended | |||||||
March 31, | |||||||
2006 | 2005 | ||||||
Interest Expense (Prorata Share) | |||||||
Interest paid or accrued | $ | 36,878 | $ | 32,971 | |||
Over-market mortgage adjustment | (1,839 | ) | (1,507 | ) | |||
Gross interest expense | 35,039 | 31,464 | |||||
Less: | |||||||
Capitalized interest | (883 | ) | (737 | ) | |||
Interest expense, at prorata share | $ | 34,156 | $ | 30,727 | |||
Property at Prorata Share | March 31, | December 31, | |||||
2006 | 2005 | ||||||
Land | $ | 774,141 | $ | 771,903 | |||
Land held for development | 21,586 | 20,634 | |||||
Land under development | 47,030 | 27,591 | |||||
Buildings and improvements | 3,255,573 | 3,230,342 | |||||
Construction in-progress | 44,533 | 48,310 | |||||
Total | $ | 4,142,863 | $ | 4,098,780 |
Page 7
Weingarten Realty Investors | |||||||
Financial Statements of Unconsolidated Joint Ventures at Prorata | |||||||
(in thousands) | |||||||
Three Months Ended | |||||||
March 31, | |||||||
2006 | 2005 | ||||||
Revenues: | $ | 4,693 | $ | 3,686 | |||
Expenses: | |||||||
Depreciation and amortization | 1,018 | 904 | |||||
Interest | 1,010 | 642 | |||||
Operating | 616 | 524 | |||||
Ad valorem taxes | 463 | 485 | |||||
General and administrative | 53 | 13 | |||||
Total | 3,160 | 2,568 | |||||
Gain on land and merchant development sales | 416 | ||||||
Gain (loss) on sale of property | 1,557 | (1 | ) | ||||
Net Income | $ | 3,506 | $ | 1,117 | |||
March 31, | December 31, | ||||||
2006 | 2005 | ||||||
ASSETS | |||||||
Property | $ | 165,485 | $ | 147,006 | |||
Accumulated Depreciation | (14,516 | ) | (14,493 | ) | |||
Property - net | 150,969 | 132,513 | |||||
Unamortized Debt and Lease Costs | 4,644 | 4,519 | |||||
Accrued Rent and Accounts Receivable | 4,069 | 1,442 | |||||
Cash and Cash Equivalents | 13,103 | 13,946 | |||||
Other | 7,531 | 1,932 | |||||
Total | $ | 180,316 | $ | 154,352 | |||
LIABILITIES AND SHAREHOLDERS' EQUITY | |||||||
Debt | $ | 54,674 | $ | 44,544 | |||
Amounts Payable to WRI | 20,478 | 16,022 | |||||
Accounts Payable and Accrued Expenses | 3,497 | 3,706 | |||||
Total | 78,649 | 64,272 | |||||
Accumulated Equity | 101,667 | 90,080 | |||||
Total | $ | 180,316 | $ | 154,352 | |||
Notes: | |||||||
The Consolidated Financial Statements at prorata share include only the real estate operations of joint ventures at WRI's ownership percentages. | |||||||
Prorata financial information is not, and is not intended to be, a presentation in accordance with generally accepted accounting principles. |
Page 8
Weingarten Realty Investors | |||||||
Summary Balance Sheet Information | |||||||
(in thousands, except common share data and percentages) | |||||||
March 31, | December 31, | ||||||
2006 | 2005 | ||||||
Common Share Data | |||||||
Closing Market Price | $ | 40.75 | $ | 37.81 | |||
Dividend Yield | 4.56 | % | 4.65 | % | |||
90-Day Average Trading Volume | 284,532 | 272,770 | |||||
Capitalization (As reported) | |||||||
Debt | $ | 2,351,349 | $ | 2,299,855 | |||
Preferred Shares | 147,500 | 147,500 | |||||
Common Shares at Market | 3,652,056 | 3,380,327 | |||||
Operating Partnership Units at Market | 126,814 | 119,328 | |||||
Total Market Capitalization | $ | 6,277,719 | $ | 5,947,010 | |||
Debt to Total Market Capitalization | 37.5 | % | 38.7 | % | |||
Capitalization (Prorata) | |||||||
Debt | $ | 2,349,633 | $ | 2,288,145 | |||
Preferred Shares | 147,500 | 147,500 | |||||
Common Shares at Market | 3,652,056 | 3,380,327 | |||||
Operating Partnership Units at Market | 126,814 | 119,328 | |||||
Total Market Capitalization | $ | 6,276,003 | $ | 5,935,300 | |||
Debt to Total Market Capitalization | 37.4 | % | 38.6 | % | |||
Capital Availability | |||||||
Unused Portion of $400 MM Revolver | $ | 118,151 | $ | 175,071 | |||
Shelf Registration - $1 Billion | 160,430 | 160,430 | |||||
Shelf Registration - $1.5 Billion | 1,500,000 | 1,500,000 | |||||
Shelf Registration - $50 Million | 50,000 | 50,000 | |||||
Total | $ | 1,828,581 | $ | 1,885,501 | |||
Credit Ratings | S&P | Moody's | |||||
Senior Debt | A | A3 | |||||
Preferred Shares | A- | baa1 |
Page 9
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Debt Information | |||||||||||||
(in thousands, except percentages) | |||||||||||||
1st Quarter | 4th Quarter | ||||||||||||
March 31, | Weighted | December 31, | Weighted | ||||||||||
2006 | Average Rate | 2005 | Average Rate | ||||||||||
Outstanding Balance Summary (2) | |||||||||||||
Mortgage Debt | $ | 794,230 | 7.29 | % | $ | 799,603 | 7.29 | % | |||||
7% 2011 Bonds | 200,000 | 7.00 | % | 200,000 | 7.00 | % | |||||||
Unsecured Notes Payable | 1,049,867 | 5.84 | % | 1,049,867 | 5.85 | % | |||||||
Revolving Credit Agreements (1) | 266,920 | 5.00 | % | 210,000 | 4.71 | % | |||||||
Industrial Revenue Bonds | 6,872 | 4.58 | % | 6,925 | 3.68 | % | |||||||
Obligations under Capital Leases | 33,460 | 5.54 | % | 33,460 | 5.49 | % | |||||||
Total Debt - As Reported | 2,351,349 | 6.36 | % | 2,299,855 | 6.36 | % | |||||||
Less: Minority Partners' Interests | (56,390 | ) | (56,254 | ) | |||||||||
Plus: WRI Share of Unconsolidated Joint Ventures | 54,674 | 44,544 | |||||||||||
Total Debt - Prorata Share | $ | 2,349,633 | 6.36 | % | $ | 2,288,145 | 6.37 | % | |||||
March 31, | December 31, | ||||||||||||
2006 | % of Total | 2005 | % of Total | ||||||||||
Fixed vs Variable Rate Debt (at Prorata Share) | |||||||||||||
(includes the effect of interest rate swaps) | |||||||||||||
Fixed-rate debt | $ | 1,978,503 | 84.2 | % | $ | 1,973,822 | 86.3 | % | |||||
Variable-rate debt | 371,130 | 15.8 | % | 314,323 | 13.7 | % | |||||||
Total | $ | 2,349,633 | 100.0 | % | $ | 2,288,145 | 100.0 | % | |||||
Secured vs Unsecured Debt (at Prorata Share) | |||||||||||||
Secured Debt | $ | 836,439 | 35.6 | % | $ | 830,340 | 36.3 | % | |||||
Unsecured Debt | 1,513,194 | 64.4 | % | 1,457,805 | 63.7 | % | |||||||
Total | $ | 2,349,633 | 100.0 | % | $ | 2,288,145 | 100.0 | % | |||||
Coverage Ratios (at Prorata Share trailing 4 quarters) | |||||||||||||
Fixed Charge Coverage | 2.56x | 2.56x | |||||||||||
Interest Coverage | 2.64x | 2.65x | |||||||||||
Debt Service Coverage | 2.62x | 2.63x | |||||||||||
As | Prorata | ||||||||||||
Reported | Share | ||||||||||||
Weighted Average Interest Rates (2) | |||||||||||||
Three months ended 3/31/06 | 6.36 | % | 6.36 | % | |||||||||
Twelve months ended 12/31/05 | 6.32 | % | 6.33 | % | |||||||||
(1) Weighted average revolving interest rate excluding the effect of the commitment fee was 4.72% in first quarter 2006 and 4.26% in fourth quarter 2005. | |||||||||||||
(2) Weighted average interest rates exclude the effects of FAS 141 and loan costs related to financing. |
Page 10
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Debt Information | |||||||||||||||||||
(in thousands, except percentages) | |||||||||||||||||||
Schedule of Maturities at March 31, 2006 | |||||||||||||||||||
As Reported | Prorata Share | ||||||||||||||||||
Maturities | Rate (8) | Maturities | Rate (8) | Floating Rate | Fixed Rate | ||||||||||||||
2006 (1) (2) | $ | 37,594 | 5.79 | % | $ | 38,940 | 5.76 | % | $ | 10,899 | $ | 28,041 | |||||||
2007 (3) | 103,799 | 6.52 | % | 103,386 | 6.52 | % | 422 | 102,964 | |||||||||||
2008 (4) (5) | 261,311 | 6.98 | % | 260,887 | 6.98 | % | 429 | 260,458 | |||||||||||
2009 | 109,668 | 6.74 | % | 108,296 | 6.74 | % | 9,795 | 98,501 | |||||||||||
2010 | 114,292 | 6.85 | % | 126,015 | 6.85 | % | 550 | 125,465 | |||||||||||
2011 | 326,349 | 6.97 | % | 317,636 | 6.97 | % | 0 | 317,636 | |||||||||||
2012 | 299,931 | 5.89 | % | 299,247 | 5.88 | % | 0 | 299,247 | |||||||||||
2013 | 277,618 | 6.15 | % | 240,015 | 5.81 | % | 0 | 240,015 | |||||||||||
2014 | 330,715 | 5.30 | % | 358,655 | 5.45 | % | 2,115 | 356,540 | |||||||||||
2015 | 112,535 | 5.92 | % | 115,897 | 5.94 | % | 0 | 115,897 | |||||||||||
Thereafter | 95,563 | 7.72 | % | 98,686 | 7.73 | % | 0 | 98,686 | |||||||||||
Subtotal | 2,069,376 | 2,067,660 | 24,210 | 2,043,450 | |||||||||||||||
Revolvers (6) | 266,920 | 5.00 | % | 266,920 | 5.00 | % | 266,920 | ||||||||||||
Other (7) | 15,053 | 15,053 | 15,053 | ||||||||||||||||
Swap Maturities: | |||||||||||||||||||
2006 | 5,000 | (5,000 | ) | ||||||||||||||||
2007 | 25,000 | (25,000 | ) | ||||||||||||||||
2014 | 50,000 | (50,000 | ) | ||||||||||||||||
Total | $ | 2,351,349 | 6.36 | % | $ | 2,349,633 | 6.36 | % | $ | 371,130 | $ | 1,978,503 | |||||||
(1) Includes $3.1 million of amortizing industrial revenue bonds with a final maturity date of 2015 that are currently callable by the lender. | |||||||||||||||||||
(2) Includes $7 million of MTN's maturing 2026 with a 10 year put option. | |||||||||||||||||||
(3) Includes $25 million of MTN's maturing 2027 with 10 and 20 year put options. | |||||||||||||||||||
(4) Includes $25 million of MTN's maturing 2028 with 10, 12 and 20 year put options. | |||||||||||||||||||
(5) Includes prepayment of $121.8 million mortgage. $118.9 million of MTN's have been forward locked at 5.2%. | |||||||||||||||||||
(6) Includes the effect of the commitment fee. | |||||||||||||||||||
(7) Other includes capital leases and market value of swaps. | |||||||||||||||||||
(8) Interest rates exclude the effects of FAS 141 and loan costs related to financing. |
Page 11
Weingarten Realty Investors | |||||||||
Tenant Diversification by Percent of Rental Revenues at Prorata Share | |||||||||
(in thousands, except percentages and # of units and leases) | |||||||||
% of Prorata | |||||||||
Rental | Square | ||||||||
Rank | Tenant Name | DBA’s | # of Units | Revenue | Feet | ||||
1 | The Kroger Co. | Kroger, Dillons, Smith’s Food, Ralphs, Fry’s Foods, King Soopers | 32 | 2.90% | 1,787 | ||||
2 | T.J.X. Companies, Inc. | T.J. Maxx, Marshall’s | 25 | 1.59% | 736 | ||||
3 | Safeway, Inc. | Safeway, Randall’s, Von’s, Tom Thumb | 18 | 1.56% | 943 | ||||
4 | Ross Stores, Inc. | Ross Dress For Less | 26 | 1.48% | 699 | ||||
5 | Publix Super Markets, Inc. | 13 | 1.23% | 666 | |||||
6 | Blockbuster Video | 54 | 1.10% | 301 | |||||
7 | Office Depot, Inc. | 22 | 1.09% | 528 | |||||
8 | Albertsons, Inc. | Albertsons, Sav-On | 17 | 1.06% | 677 | ||||
9 | Home Depot, Inc. | 5 | 1.01% | 562 | |||||
10 | Barnes & Noble Inc. | Barnes & Noble, Bookstop Booksellers | 12 | 0.95% | 283 | ||||
11 | Gap, Inc. | Gap, Old Navy, Banana Republic | 19 | 0.93% | 327 | ||||
12 | Staples, Inc. | 12 | 0.66% | 319 | |||||
13 | Petco Animal Supplies, Inc. | 17 | 0.66% | 236 | |||||
14 | Linens ‘ n Things, Inc. | 8 | 0.63% | 238 | |||||
15 | H E Butt Grocery | 5 | 0.61% | 302 | |||||
16 | Dollar Tree Stores, Inc. | Dollar Tree, Greenbacks | 32 | 0.60% | 316 | ||||
17 | Office Max, Inc. | 10 | 0.59% | 237 | |||||
18 | Petsmart, Inc. | 11 | 0.59% | 219 | |||||
19 | Harris Teeter | 6 | 0.58% | 248 | |||||
20 | Movie Gallery, Inc. | Movie Gallery, Hollywood Video | 22 | 0.58% | 144 | ||||
21 | Grocers Supply Co. Inc. | Fiesta | 9 | 0.58% | 352 | ||||
22 | Academy Sports & Outdoors | 5 | 0.57% | 562 | |||||
23 | Stage Stores | Beall’s, Palais Royal, Stages | 21 | 0.55% | 477 | ||||
24 | Raley’s | Raley’s, Bel Air Markets | 5 | 0.54% | 277 | ||||
25 | Toys ‘R’ Us | Toys ‘R’ Us, Babies ‘R’ Us | 8 | 0.53% | 304 | ||||
Total | 414 | 23.17% | 11,740 |
Page 12
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Leasing Information | ||||||||||||
(in thousands, except percentages and # of units and leases, prorata share) | ||||||||||||
Lease Expirations | ||||||||||||
Shopping Center | Industrial | Total | ||||||||||
Percentage of | Percentage of | Percentage of | ||||||||||
Prorata | Prorata | Prorata | ||||||||||
Year Expiring | Sq. Ft. | Revenue | Sq. Ft. | Revenue | Sq. Ft. | Revenue | ||||||
2006 | 7.47% | 7.99% | 17.98% | 17.86% | 10.05% | 9.15% | ||||||
2007 | 12.18% | 13.05% | 25.40% | 24.44% | 15.43% | 14.39% | ||||||
2008 | 12.17% | 12.41% | 19.87% | 21.50% | 14.07% | 13.49% | ||||||
2009 | 11.76% | 12.14% | 8.81% | 10.16% | 11.03% | 11.91% | ||||||
2010 | 11.59% | 12.79% | 10.94% | 11.14% | 11.43% | 12.60% | ||||||
2011-2015 | 29.16% | 28.26% | 15.41% | 14.07% | 25.78% | 26.59% | ||||||
2016-2025 | 14.71% | 12.49% | 1.59% | 0.83% | 11.48% | 11.11% | ||||||
Leasing Production - New Leases and Renewals | ||||||||||||
Number | Increase in | |||||||||||
of | Square | Increase in | Base Rent | |||||||||
Leases | Feet | Base Rent | After Capital | |||||||||
Three Months Ended | ||||||||||||
March 31, 2006 | ||||||||||||
Retail | 243 | 940 | 10.9% | 9.8% | ||||||||
Industrial | 50 | 908 | 4.1% | 2.9% | ||||||||
Total | 293 | 1,848 | 9.5% | 8.3% | ||||||||
Three Months Ended | ||||||||||||
March 31, 2005 | ||||||||||||
Retail | 221 | 935 | 10.7% | 8.1% | ||||||||
Industrial | 75 | 833 | 0.7% | -0.9% | ||||||||
Total | 296 | 1,768 | 7.7% | 5.4% | ||||||||
Average Minimum Rent per Square Foot | ||||||||||||
Quarter Ended | ||||||||||||
March 31, 2006 | December 31, 2005 | September 30, 2005 | June 30, 2005 | March 31, 2005 | ||||||||
Retail | $11.50 | $11.38 | $11.35 | $11.27 | $11.17 | |||||||
Industrial | $4.82 | $4.89 | $4.93 | $4.87 | $4.88 | |||||||
Occupancy | ||||||||||||
March 31, | December 31, | September 30, | June 30, | March 31, | ||||||||
2006 | 2005 | 2005 | 2005 | 2005 | ||||||||
Shopping Center Portfolio | 94.9% | 94.6% | 94.9% | 94.8% | 95.1% | |||||||
Industrial Portfolio | 92.9% | 93.1% | 93.8% | 91.9% | 89.5% | |||||||
Total Portfolio | 94.4% | 94.2% | 94.7% | 94.2% | 93.9% | |||||||
Note: A space is considered occupied upon execution of a lease agreement. |
Page 13
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Property Information | ||||||||||||||||
(in thousands at prorata share) | ||||||||||||||||
Property Investment Summary | ||||||||||||||||
New | Major | All | ||||||||||||||
Acquisitions | Development | Repairs | Other | Total | ||||||||||||
Three Months Ended 03/31/06 | $ | 38,345 | $ | 25,884 | $ | 1,316 | $ | 7,326 | $ | 72,871 | ||||||
Year Ended 12/31/2005 | 358,990 | 33,171 | 12,858 | 36,791 | 441,810 | |||||||||||
Year Ended 12/31/2004 | 511,245 | 37,836 | 12,265 | 41,983 | 603,329 | |||||||||||
Year Ended 12/31/2003 | 413,796 | 64,011 | 11,754 | 39,062 | 528,623 | |||||||||||
Year Ended 12/31/2002 | 247,678 | 70,325 | 7,800 | 27,184 | 352,987 |
Page 14
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Property Information | |||||||||||||
(in thousands at prorata share) | |||||||||||||
Acquisition Summary | |||||||||||||
Sq. Ft. | Date | Total | |||||||||||
Center | City/State | of Bldg. Area | Acquired | Investment | |||||||||
Wholly-Owned | |||||||||||||
Industrial | |||||||||||||
420 E. Danieldale Road | DeSoto, Texas | 418 | 2/14/2006 | ||||||||||
Joint Venture Acquisitions | |||||||||||||
Shopping Centers | |||||||||||||
Fresh Market Shoppes | Hilton Head, South Carolina | 22 | 3/7/2006 | ||||||||||
Shoppes at Paradise Isle | Destin, Florida | 43 | 3/31/2006 | ||||||||||
483 | $ | 38,345 |
Page 15
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Property Information | |||||||||||||
(in thousands at prorata share) | |||||||||||||
Disposition Summary | |||||||||||||
Sq. Ft. | Date | Sales | |||||||||||
Center | City/State | of Bldg. Area | Sold | Proceeds | |||||||||
Sale of Operating Properties | |||||||||||||
Shopping Centers | |||||||||||||
Desert Square | Tuscon, Arizona | 100 | 01/06/06 | ||||||||||
West State Plaza | Kansas City, Kansas | 94 | 02/13/06 | ||||||||||
Crosby Shopping Center * | Crosby, Texas | 34 | 03/01/06 | ||||||||||
Caprock Shopping Center | Lubbock, Texas | 262 | 03/30/06 | ||||||||||
Industrial | |||||||||||||
Thomas St. Warehouse | Memphis, Tennessee | 33 | 03/23/06 | ||||||||||
523 | $ | 37,765 | |||||||||||
Land and Merchant Development Sales | |||||||||||||
Laveen Village Marketplace | Phoenix, Arizona | 03/17/06 | |||||||||||
Northwest Crossing Centre * | Houston, Texas | 03/31/06 | |||||||||||
$ | 3,612 | ||||||||||||
* Unconsolidated Joint Venture |
Page 16
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Property Information | ||||||||||||||||||||||||||||
(in thousands at prorata share, except percentage) | ||||||||||||||||||||||||||||
Properties Currently Under Development | ||||||||||||||||||||||||||||
Total Square Feet | ||||||||||||||||||||||||||||
of Building Area | ||||||||||||||||||||||||||||
Percent | WRI’s | Spent 1st Quarter | Spent Inception | Total Estimated Investment | ||||||||||||||||||||||||
Center Name | Location | Anchor | Ownership | Total | Share | 2006 | To Date | WRI Costs | Gross Costs | |||||||||||||||||||
Rock Prairie Marketplace | College Station, Texas | Wal-Mart | 100 | % | 562 | 207 | $ | 6,192 | $ | 6,329 | $ | 27,565 | $ | 27,565 | ||||||||||||||
Sharyland Towne Crossing * | Mission, Texas | Target/HEB | 50 | % | 490 | 179 | 1,224 | 8,165 | 23,720 | 46,650 | ||||||||||||||||||
River Pointe Apartments II | Conroe, Texas | N/A | 100 | % | 217 | 217 | 80 | 181 | 14,756 | 14,756 | ||||||||||||||||||
Phillips Landing | Orlando, Florida | Wal-Mart | 100 | % | 286 | 66 | 97 | 3,244 | 14,029 | 14,029 | ||||||||||||||||||
Waterford Village | Leland, North Carolina | Harris Teeter | 75 | % | 100 | 75 | 135 | 5,094 | 11,829 | 15,772 | ||||||||||||||||||
Glenwood Meadows * | Glenwood Springs, Colorado | Target | 41 | % | 403 | 114 | 704 | 10,288 | 11,260 | 27,463 | ||||||||||||||||||
Starr Plaza * | Rio Grande City, Texas | H-E-B | 50 | % | 180 | 90 | 495 | 6,418 | 10,275 | 20,318 | ||||||||||||||||||
North Sharyland Crossing * | Mission, Texas | Lowe’s | 50 | % | 306 | 72 | 4 | 3,572 | 9,591 | 19,181 | ||||||||||||||||||
Town Center at Timber Springs | Orlando, Florida | Wal-Mart | 100 | % | 75 | 35 | 1,966 | 5,025 | 6,904 | 6,934 | ||||||||||||||||||
Village at Liberty Lake * | Liberty Lake, Washington | Home Depot | 50 | % | 159 | 13 | 251 | 857 | 2,452 | 4,904 | ||||||||||||||||||
Shoppes at Caveness Farms | Wake Forest, North Carolina | 100 | % | 308 | 308 | 7,535 | 7,535 | 47,033 | 47,033 | |||||||||||||||||||
Laveen Village Phase II | Phoenix, Arizona | Home Depot | 100 | % | 198 | 59 | 4,458 | 4,878 | 11,865 | 11,865 | ||||||||||||||||||
Market at Nolana * | Mission, Texas | Wal-Mart | 50 | % | 265 | 31 | 2,743 | 2,743 | 5,222 | 10,443 | ||||||||||||||||||
Total 13 Properties Under Development | 3,549 | 1,466 | $ | 25,884 | $ | 64,329 | $ | 196,501 | $ | 266,913 | ||||||||||||||||||
* Property resides in an Unconsolidated Joint Venture |
Page 17
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Total Operating Income at Prorata Share by Geographic Region (1) | |||||||||||||||||||||||||||||||||||||
(in thousands, except percentages) | |||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | Twelve Months Ended December 31, | ||||||||||||||||||||||||||||||||||||
2006 | % | 2005 | % | 2005 | % | 2004 | % | 2003 | % | 2002 | % | ||||||||||||||||||||||||||
Western Region | |||||||||||||||||||||||||||||||||||||
California | $ | 9,343 | 13.8 | % | $ | 8,613 | 13.9 | % | $ | 36,743 | 14.3 | % | $ | 32,198 | 14.2 | % | $ | 26,191 | 13.7 | % | $ | 22,139 | 13.1 | % | |||||||||||||
Nevada | 4,827 | 7.1 | % | 3,693 | 6.0 | % | 17,025 | 6.6 | % | 13,208 | 5.8 | % | 11,862 | 6.2 | % | 12,218 | 7.2 | % | |||||||||||||||||||
Arizona | 2,505 | 3.7 | % | 2,540 | 4.1 | % | 9,926 | 3.9 | % | 8,648 | 3.8 | % | 8,038 | 4.2 | % | 7,220 | 4.3 | % | |||||||||||||||||||
New Mexico | 1,897 | 2.8 | % | 1,565 | 2.5 | % | 6,235 | 2.4 | % | 5,012 | 2.2 | % | 4,144 | 2.2 | % | 3,995 | 2.4 | % | |||||||||||||||||||
Colorado | 1,766 | 2.6 | % | 1,697 | 2.7 | % | 6,880 | 2.7 | % | 7,044 | 3.1 | % | 4,351 | 2.3 | % | 2,165 | 1.3 | % | |||||||||||||||||||
Utah | 557 | 0.8 | % | 477 | 0.8 | % | 2,014 | 0.8 | % | 1,763 | 0.8 | % | (2 | ) | 0.0 | % | (3 | ) | 0.0 | % | |||||||||||||||||
Total Western Region | 20,895 | 30.8 | % | 18,585 | 30.0 | % | 78,823 | 30.7 | % | 67,873 | 29.9 | % | 54,584 | 28.6 | % | 47,734 | 28.3 | % | |||||||||||||||||||
Central Region | |||||||||||||||||||||||||||||||||||||
Texas | $ | 23,636 | 34.9 | % | $ | 23,138 | 37.3 | % | $ | 90,887 | 35.4 | % | $ | 80,798 | 35.6 | % | $ | 80,065 | 41.8 | % | $ | 75,112 | 44.4 | % | |||||||||||||
Louisiana | 1,685 | 2.5 | % | 2,054 | 3.3 | % | 8,732 | 3.4 | % | 12,024 | 5.3 | % | 6,640 | 3.5 | % | 5,203 | 3.1 | % | |||||||||||||||||||
Kansas | 991 | 1.5 | % | 1,224 | 2.0 | % | 4,282 | 1.7 | % | 4,757 | 2.1 | % | 5,420 | 2.8 | % | 5,263 | 3.1 | % | |||||||||||||||||||
Arkansas | 667 | 1.0 | % | 483 | 0.8 | % | 3,970 | 1.5 | % | 2,242 | 1.0 | % | 1,438 | 0.8 | % | 2,190 | 1.3 | % | |||||||||||||||||||
Illinois | 596 | 0.9 | % | 513 | 0.8 | % | 2,256 | 0.9 | % | 2,365 | 1.0 | % | 1,501 | 0.8 | % | 575 | 0.3 | % | |||||||||||||||||||
Oklahoma | 557 | 0.8 | % | 371 | 0.6 | % | 1,711 | 0.7 | % | 1,859 | 0.8 | % | 1,852 | 0.9 | % | 1,830 | 1.0 | % | |||||||||||||||||||
Missouri | 485 | 0.7 | % | 496 | 0.8 | % | 1,984 | 0.8 | % | 1,948 | 0.9 | % | 1,968 | 1.0 | % | 2,072 | 1.2 | % | |||||||||||||||||||
Mississippi | (24 | ) | 0.0 | % | - | 0.0 | % | (1 | ) | 0.0 | % | - | 0.0 | % | (15 | ) | 0.0 | % | (82 | ) | 0.0 | % | |||||||||||||||
Total Central Region | 28,593 | 42.3 | % | 28,279 | 45.6 | % | 113,821 | 44.4 | % | 105,993 | 46.7 | % | 98,869 | 51.6 | % | 92,163 | 54.4 | % | |||||||||||||||||||
Eastern Region | |||||||||||||||||||||||||||||||||||||
Florida | $ | 9,755 | 14.4 | % | $ | 8,464 | 13.7 | % | $ | 34,027 | 13.3 | % | $ | 30,223 | 13.3 | % | $ | 23,810 | 12.4 | % | $ | 18,052 | 10.7 | % | |||||||||||||
North Carolina | 4,339 | 6.4 | % | 2,855 | 4.6 | % | 14,075 | 5.5 | % | 11,038 | 4.9 | % | 8,398 | 4.4 | % | 6,256 | 3.7 | % | |||||||||||||||||||
Georgia | 1,969 | 2.9 | % | 1,932 | 3.1 | % | 8,060 | 3.1 | % | 5,868 | 2.6 | % | 2,097 | 1.0 | % | 444 | 0.2 | % | |||||||||||||||||||
Tennessee | 1,239 | 1.8 | % | 1,014 | 1.6 | % | 4,100 | 1.6 | % | 3,842 | 1.7 | % | 3,562 | 1.9 | % | 4,365 | 2.6 | % | |||||||||||||||||||
Kentucky | 931 | 1.4 | % | 768 | 1.3 | % | 3,440 | 1.3 | % | 1,507 | 0.8 | % | - | 0.0 | % | - | 0.0 | % | |||||||||||||||||||
Maine | 52 | 0.0 | % | 65 | 0.1 | % | 358 | 0.1 | % | 318 | 0.1 | % | 410 | 0.1 | % | 165 | 0.1 | % | |||||||||||||||||||
South Carolina | 14 | 0.0 | % | - | 0.0 | % | - | 0.0 | % | - | 0.0 | % | - | 0.0 | % | - | 0.0 | % | |||||||||||||||||||
Total Eastern Region | 18,299 | 26.9 | % | 15,098 | 24.4 | % | 64,060 | 24.9 | % | 52,796 | 23.4 | % | 38,277 | 19.8 | % | 29,282 | 17.3 | % | |||||||||||||||||||
Total Operating Income | $ | 67,787 | 100.0 | % | $ | 61,962 | 100.0 | % | $ | 256,704 | 100.0 | % | $ | 226,662 | 100.0 | % | $ | 191,730 | 100.0 | % | $ | 169,179 | 100.0 | % | |||||||||||||
(1) The Operating Income at Prorata Share includes the real estate operations of joint ventures at WRI's ownership percentages ranging from 20% to 75% except for the operations of down-reit partnerships, which are included at 100% with the applicable minority interest. Prorata financial information is not, and is not intended to be, a presentation in accordance with generally accepted accounting principles. |
Page 18
Weingarten Realty Investors | ||||||
Property Listing at March 31, 2006 | ||||||
Gross Leasable Area | ||||||
WRI | Others | |||||
Center and Location | Anchors | Owned | (O.B.O.) | Total | ||
Houston and Harris County, Total | 6,479,000 | 845,000 | 7,324,000 | |||
Alabama-Shepherd, S. Shepherd at W. Alabama | Bookstop, PetsMart | 56,000 | 0 | 56,000 | ||
Bayshore Plaza, Spencer Hwy. at Burke Rd. | Fitness Connections (O.B.O.) | 36,000 | 86,000 | 122,000 | ||
Bellaire Boulevard, Bellaire at S. Rice | Randall’s + | 35,000 | 0 | 35,000 | ||
Braeswood Square, N. Braeswood at Chimney Rock | Belden’s +, Walgreen’s | 103,000 | 0 | 103,000 | ||
Centre at Post Oak, Westheimer at Post Oak Blvd. | Marshall’s, Barnes & Noble, Old Navy, Grand Lux Café, Comp USA | 184,000 | 0 | 184,000 | ||
Champions Village, F.M. 1960 at Champions Forest Dr. | Randall’s +, SteinMart, Palais Royal, Cost Plus, Barnes & Noble | 408,000 | 0 | 408,000 | ||
Copperfield Village, Hwy. 6 at F.M. 529 | Randall’s +, Ross Dress for Less | 163,000 | 0 | 163,000 | ||
Crestview, Bissonnet at Wilcrest | Creative Connection | 9,000 | 0 | 9,000 | ||
Cullen Place, Cullen at Reed | C&R Beauty Supply | 7,000 | 0 | 7,000 | ||
Cullen Plaza, Cullen at Wilmington | Fiesta +, Family Dollar, Beauty Empire | 85,000 | 0 | 85,000 | ||
Cypress Pointe, F.M. 1960 at Cypress Station | Kroger +, Office Max, Comp USA, Babies “R” Us | 191,000 | 97,000 | 288,000 | ||
Eastpark, Mesa Rd. at Tidwell | CVS/pharmacy | 113,000 | 0 | 113,000 | ||
Edgebrook, Edgebrook at Gulf Fwy. | Fiesta +, Bank One, Family Dollar | 78,000 | 0 | 78,000 | ||
Fiesta Village, Quitman at Fulton | Fiesta + | 30,000 | 0 | 30,000 | ||
Fondren Southwest Village, Fondren at W. Bellfort | Fiesta +, Palais Royal, Anna’s Linens, Dollar Tree, Citi Trends | 269,000 | 0 | 269,000 | ||
Fondren/West Airport, Fondren at W. Airport | 62,000 | 0 | 62,000 | |||
Glenbrook Square, Telephone Road | Kroger +, Blockbuster | 76,000 | 0 | 76,000 | ||
Griggs Road, Griggs at Cullen | Family Dollar, Modern City, Citi Trends | 80,000 | 0 | 80,000 | ||
Harrisburg Plaza, Harrisburg at Wayside | Fallas Paredes | 93,000 | 0 | 93,000 | ||
Heights Plaza, 20th St. at Yale | Kroger +, Walgreen’s | 72,000 | 0 | 72,000 | ||
Humblewood Shopping Plaza, Eastex Fwy. at F.M. 1960 | Kroger +,Conn’s, Walgreen’s | 180,000 | 99,000 | 279,000 | ||
I-45/Telephone Rd. Center, I-45 at Maxwell Street | Seller Bros. +, Dollar Tree, Best Price, FAMSA | 164,000 | 0 | 164,000 | ||
Jacinto City, Market at Baca | Seller Bros. +, CVS/pharmacy | 25,000 | * | 25,000 | 50,000 | |
Landmark, Gessner at Harwin | Family Dollar | 56,000 | 0 | 56,000 | ||
Lawndale, Lawndale at 75th St. | Fiesta +, Family Dollar | 53,000 | 0 | 53,000 | ||
Little York Plaza, Little York at E. Hardy | Seller Bros. +, Dollar General, American Way Thrift Stores | 118,000 | 0 | 118,000 | ||
Lyons Avenue, Lyons at Shotwell | Fiesta +, Fallas Paredes | 68,000 | 0 | 68,000 | ||
Market at Westchase, Westheimer at Wilcrest | Whole Foods Market + | 87,000 | 0 | 87,000 | ||
Miracle Corners, S. Shaver at Southmore | Fallas Paredes, Family Thrift, Dollar General | 86,000 | 0 | 86,000 | ||
Northbrook, Northwest Fwy. at W. 34th | Randall’s +, Office Depot, Citi Trends, Anna’s Linens, Dollar Tree | 175,000 | 0 | 175,000 | ||
North Main Square, Pecore at N. Main | O’Reilly Autoparts | 19,000 | 0 | 19,000 | ||
North Oaks, F.M. 1960 at Veterans Memorial | T.J. Maxx, Old Navy, Ross Dress for Less, Big Lots, DSW, Half Price Books | 425,000 | 0 | 425,000 | ||
North Triangle, I-45 at F.M. 1960 | Steak & Ale, CiCi’s Pizza, James Coney Island | 16,000 | 0 | 16,000 | ||
Northway, Northwest Fwy. at 34th | Conn’s, Academy, Office Max | 209,000 | 0 | 209,000 | ||
Northwest Crossing, N.W. Fwy. at Hollister (75%) | Target (O.B.O.), Marshall’s, Babies “R” Us, Best Buy | 134,000 | * | 166,000 | 300,000 | |
Oak Forest, W. 43rd at Oak Forest | Kroger +, Palais Royal, Dollar Tree | 164,000 | 0 | 164,000 | ||
Orchard Green, Gulfton at Renwick | Seller Bros. +, Family Dollar | 74,000 | 0 | 74,000 | ||
Randall’s/Cypress Station, F.M. 1960 at I-45 | David’s Bridal | 141,000 | 0 | 141,000 | ||
Randall’s/Kings Crossing, Kingwood Dr. at Lake Houston Pkwy. | Randall’s +, CVS/pharmacy | 128,000 | 0 | 128,000 | ||
Randall’s/Norchester, Grant at Jones | Randall’s + | 108,000 | 0 | 108,000 | ||
Richmond Square, Richmond Ave. at W. Loop 610 | Best Buy (O.B.O.), Cost Plus | 33,000 | 58,000 | 91,000 | ||
River Oaks, East, W. Gray at Woodhead | Kroger + | 71,000 | 0 | 71,000 | ||
River Oaks, West, W. Gray at S. Shepherd | Talbot’s, JoS. A. Bank, Ann Taylor, Gap | 235,000 | 0 | 235,000 | ||
Sheldon Forest, North, I-10 at Sheldon | Family Dollar | 22,000 | 0 | 22,000 | ||
Sheldon Forest, South, I-10 at Sheldon | Gerland’s +, Burke’s Outlet | 38,000 | * | 38,000 | 76,000 | |
Shops at Three Corners, S. Main at Old Spanish Trail (70%) | Fiesta +, Office Depot, Big Lots, PetsMart, Ross Dress for Less, Anna’s Linens | 176,000 | * | 76,000 | 252,000 | |
Southgate, W. Fuqua at Hiram Clark | Food-A-Rama +, Palais Royal, CVS/pharmacy, Family Dollar | 125,000 | 0 | 125,000 | ||
Spring Plaza, Hammerly at Campbell | Seller Bros. +, Family Dollar | 56,000 | 0 | 56,000 | ||
Steeplechase, Jones Rd. at F.M. 1960 | Target (O.B.O.), Palais Royal, 99 Cents Only | 193,000 | 100,000 | 293,000 | ||
Stella Link, Stella Link at S. Braeswood | Seller Bros.+, Spec’s Liquor Warehouse, Burke’s Outlet | 68,000 | 0 | 68,000 | ||
Studemont, Studewood at E. 14th St | Fiesta + | 28,000 | 0 | 28,000 | ||
Ten Blalock Square, I-10 at Blalock | Fiesta + | 97,000 | 0 | 97,000 | ||
10/Federal, I-10 at Federal | Citi Trends, Palais Royal, Seller Bros. + | 132,000 | 0 | 132,000 | ||
The Village Arcade, University at Kirby | Gap, Talbot’s, Baby Gap, Old Navy | 191,000 | 0 | 191,000 | ||
Westbury Triangle, Chimney Rock at W. Bellfort | 99 Cents Only, CVS/pharmacy | 67,000 | 0 | 67,000 |
Page 19
Weingarten Realty Investors | ||||||
Property Listing at March 31, 2006 | ||||||
Gross Leasable Area | ||||||
WRI | Others | |||||
Center and Location | Anchors | Owned | (O.B.O.) | Total | ||
Houston and Harris County, (Cont’d) | ||||||
Westchase, Westheimer at Wilcrest | Ross Dress for Less, Randall’s +, Golfsmith, Palais Royal, Target (O.B.O.), Old Navy | 236,000 | 100,000 | 336,000 | ||
Westhill Village, Westheimer at Hillcroft | Ross Dress for Less, Office Depot, 99 Cents Only, Anna’s Linens | 131,000 | 0 | 131,000 | ||
Texas (Excluding Houston & Harris Co.), Total | 7,640,000 | 2,422,000 | 10,062,000 | |||
Bell Plaza, 45th Ave. at Bell St., Amarillo | United Supermarket +, Dollar Tree | 129,000 | 0 | 129,000 | ||
Coronado, S.W. 34th St. at Wimberly Dr., Amarillo | Blockbuster | 49,000 | 0 | 49,000 | ||
Grand Plaza, Interstate Hwy 40 at Grand Ave., Amarillo | United Supermarket +, Big Lots, Beall’s | 157,000 | 0 | 157,000 | ||
Puckett Plaza, Bell Road, Amarillo | Huneke Furniture, CVS/Pharmacy | 133,000 | 0 | 133,000 | ||
Spanish Crossroads, Bell St. at Atkinsen St., Amarillo | Big Lots, Dollar General | 74,000 | 0 | 74,000 | ||
Wolflin Village, Wolflin Ave. at Georgia St., Amarillo | Hastings, Talbot’s, Office Depot | 193,000 | 0 | 193,000 | ||
Brodie Oaks, South Lamar Blvd. at Loop 360, Austin | Mervyn’s (O.B.O.), Toys “R” Us (O.B.O.), Sun Harvest Foods +, Neiman Marcus Last Call | 245,000 | 109,000 | 354,000 | ||
Southridge Plaza, William Cannon Dr. at S. 1st St., Austin | H. E. B. +, Dollar Tree | 143,000 | 0 | 143,000 | ||
Calder, Calder at 24th St., Beaumont | Hair Cartel | 34,000 | 0 | 34,000 | ||
North Park Plaza, Eastex Fwy. at Dowlen, Beaumont | Target (O.B.O.), Anna’s Linens, Spec’s Liquor Warehouse, David’s Bridal, Toys “R” Us (O.B.O.) | 70,000 | * | 168,000 | 238,000 | |
Phelan West, Phelan at 23rd St., Beaumont (67%) | Kroger + (O.B.O.) | 16,000 | * | 67,000 | 83,000 | |
Phelan, Phelan at 23rd St, Beaumont | None | 12,000 | 0 | 12,000 | ||
Southgate, Calder Ave. at 6th St., Beaumont | Dollar General | 34,000 | 0 | 34,000 | ||
Westmont, Dowlen at Phelan, Beaumont | CVS/pharmacy, Talbot’s, Ashley Furniture | 98,000 | 0 | 98,000 | ||
Lone Star Pavilions, Texas at Lincoln Ave., College Station | Best Buy, Office Depot, Barnes & Noble | 107,000 | 0 | 107,000 | ||
Rock Prairie Marketplace, Rock Prairie Rd. at Hwy. 6, College Station | Vacant | 0 | # | 0 | 0 | |
Montgomery Plaza, Loop 336 West at I-45, Conroe | Academy, Conn’s, Goody’s, 99 Cents Only, Spec’s Liquor Warehouse, Petco | 317,000 | 0 | 317,000 | ||
River Pointe, I-45 at Loop 336, Conroe | Kroger + (O.B.O) | 46,000 | 145,000 | 191,000 | ||
Moore Plaza, S. Padre Island Dr. at Staples, Corpus Christi | Office Depot, Marshall’s, H. E. B. + (O.B.O),Target (O.B.O.), Circuit City, Old Navy, Linen’s N Things | 373,000 | 162,000 | 535,000 | ||
Portairs, Ayers St. at Horne Rd., Corpus Christi | CVS /pharmacy, Family Dollar, Beall’s | 118,000 | 0 | 118,000 | ||
Shoppes at Deer Creek, FM 731 at FM 1137, Crowley | Albertsons + (O.B.O.) | 22,000 | 52,000 | 74,000 | ||
Dickinson, I-45 at F.M. 517, Dickinson (72%) | Kroger + | 63,000 | * | 24,000 | 87,000 | |
Golden Beach Market Place, Golden Triangle Blvd. at N. Beach St., Ft. Worth | Albertsons + (O.B.O.) | 31,000 | 52,000 | 83,000 | ||
Overton Park Plaza, SW Loop 820/Interstate 20 at South Hulen St., Ft. Worth | Sports Authority, Circuit City, PetsMart, Office Depot, T.J. Maxx, Albertsons +, Home Depot (O.B.O.), Anna’s Linens, Ashley Furniture | 353,000 | 110,000 | 463,000 | ||
Southcliff, I-20 at Grandbury Rd., Ft. Worth | Jo-Ann’s Fabrics | 116,000 | 0 | 116,000 | ||
Broadway, Broadway at 59th St., Galveston | Big Lots, Family Dollar | 76,000 | 0 | 76,000 | ||
Galveston Place, Central City Blvd. at 61st St., Galveston | Randall’s +, Office Depot, Hastings, Palais Royal | 210,000 | 0 | 210,000 | ||
Food King Place, 25th St. at Avenue P, Galveston | Arlan’s + | 28,000 | 0 | 28,000 | ||
Killeen Marketplace, 3200 E. Central Texas Expressway, Killeen | Best Buy, Ross Dress for Less, Staples, Home Depot (O.B.O.) | 115,000 | 136,000 | 251,000 | ||
Cedar Bayou, Bayou Rd., La Marque | Dollar General | 15,000 | 31,000 | 46,000 | ||
North Creek Plaza, Del Mar Blvd. at Hwy. I-35, Laredo | Old Navy, Bed Bath & Beyond, Best Buy, Target (O.B.O.), H.E.B. + (O.B.O.), Marshall’s | 245,000 | 206,000 | 451,000 | ||
Plantation Centre, Del Mar Blvd. at McPherson Rd., Laredo | H.E.B. +, Blockbuster | 135,000 | 0 | 135,000 | ||
League City Plaza, I-45 at F.M. 518, League City | Kroger +, Spec’s Liquor Warehouse | 126,000 | 0 | 126,000 | ||
Central Plaza, Loop 289 at Slide Rd., Lubbock | Bed Bath & Beyond, Old Navy, Staples | 152,000 | 0 | 152,000 | ||
Northtown Plaza, 1st St. at University Plaza, Lubbock | United Supermarket +, Family Dollar | 74,000 | 0 | 74,000 | ||
Town & Country, 4th St. at University, Lubbock | Hasting’s Records & Books | 50,000 | 0 | 50,000 | ||
Angelina Village, Hwy. 59 at Loop 287, Lufkin | Randall’s +, Kmart, Clark’s, Ashley Furniture | 257,000 | 0 | 257,000 | ||
Independence Plaza, Town East Blvd., Mesquite | Sack & Save +, Babies “R” Us | 179,000 | 0 | 179,000 | ||
H.E.B. Center, S. 10th St. at Houston St., McAllen | H.E.B. + | 52,000 | * | 52,000 | 104,000 | |
Las Tiendas Plaza, Expressway 83 at McColl Rd., McAllen | Target (O.B.O.), Mervyn’s (O.B.O.), Academy, Conn’s, Ross Dress for Less, Marshall’s, Office Depot | 144,000 | * | 386,000 | 530,000 | |
Market at Nolana, Nolana Ave. at 29th St, McAllen | 0 | # * | 0 | 0 | ||
Northcross, N. 10th St. at Nolana Loop, McAllen | Barnes & Noble, Blockbuster | 38,000 | * | 38,000 | 76,000 | |
Old Navy Building, 1815 10th Street, McAllen | Old Navy | 8,000 | * | 7,000 | 15,000 | |
Sharyland Towne Crossing, Shary Rd. at Hwy. 83, Mission | Vacant | 0 | # * | 0 | 0 | |
North Sharyland Crossing, Shary Rd. at North Hwy. 83, Mission | Vacant | 0 | # * | 0 | 0 | |
Custer Park, SWC Custer Road at Parker Road, Plano | Kroger + (O.B.O), Dollar General | 116,000 | 65,000 | 181,000 | ||
Pitman Corners, Custer Road at West 15th, Plano | Albertsons +, Tuesday Morning | 190,000 | 0 | 190,000 | ||
Gillham Circle, Gillham Circle at Thomas, Port Arthur | Family Dollar | 33,000 | 0 | 33,000 | ||
Starr Plaza, U.S. Hwy. 83 at Bridge St., Rio Grande City (45%) | H.E.B.+, Beall’s | 32,000 | * | 32,000 | 64,000 |
Page 20
Weingarten Realty Investors | ||||||
Property Listing at March 31, 2006 | ||||||
Gross Leasable Area | ||||||
WRI | Others | |||||
Center and Location | Anchors | Owned | (O.B.O.) | Total | ||
Texas (Excluding Houston & Harris Co.), (Cont’d) | ||||||
Rockwall, I-30 at Market Center Street, Rockwall | Office Max, Petco, Pier 1, Ross Dress for Less, Old Navy, Linens ‘N Things, Michael’s | 209,000 | 0 | 209,000 | ||
Plaza, Ave. H at Eighth Street, Rosenberg | Burke’s Outlet, 99 Cents Only | 41,000 | * | 41,000 | 82,000 | |
Rose-Rich, U.S. Hwy. 90A at Lane Dr., Rosenberg | Family Dollar, Palais Royal | 104,000 | 0 | 104,000 | ||
Round Rock Towne Ctr., Gattis School Rd. at A. W. Grimes Blvd., Round Rock | Randall’s + (O.B.O.) | 45,000 | 59,000 | 104,000 | ||
Lake Pointe Market Center, Dalrock Rd. at Lakeview Pkwy., Rowlett | Tom Thumb + (O.B.O.), Walgreen’s (O.B.O.) | 40,000 | 81,000 | 121,000 | ||
Boswell Towne Center, Highway 287 at Bailey Boswell Rd., Saginaw | Albertsons + (O.B.O) | 26,000 | 62,000 | 88,000 | ||
Fiesta Trails, I-10 at DeZavala Rd., San Antonio | H. E. B. + (O.B.O), Target (O.B.O.), Barnes & Noble, Cost Plus, Regal Cinema, Marshall’s, Office Max, SteinMart, Petco, Anna’s Linens | 312,000 | 176,000 | 488,000 | ||
Oak Park Village, Nacogdoches at New Braunfels, San Antonio | H. E. B. + | 65,000 | 0 | 65,000 | ||
Parliament Square, W. Ave. at Blanco, San Antonio | Spectrum | 120,000 | 0 | 120,000 | ||
Thousand Oaks, Thousand Oaks Dr. at Jones Maltsberger Rd., San Antonio | H. E. B. +, Beall’s, Tuesday Morning | 163,000 | 0 | 163,000 | ||
Valley View, West Ave. at Blanco Rd., San Antonio | Marshall’s, Blockbuster, Dollar Tree | 90,000 | 0 | 90,000 | ||
First Colony Commons, Hwy. 59 at Williams Trace Blvd., Sugar Land | Babies “R” Us, Conn’s, Michael’s, Office Depot, Home Depot | 410,000 | 0 | 410,000 | ||
Market at Town Center, Town Center Blvd., Sugar Land | Old Navy, Barnes & Noble, Marshall’s, Linens ‘N Things, DSW Shoe Warehouse, Ross Dress for Less, Lane Furniture | 345,000 | 0 | 345,000 | ||
New Boston Road, New Boston at Summerhill, Texarkana | Rehkopf’s Grocery +, CVS/pharmacy, Salvation Army | 97,000 | 0 | 97,000 | ||
Island Market Place, 6th St. at 9th Ave., Texas City | Food King + | 27,000 | 0 | 27,000 | ||
Palmer Plaza, F.M. 1764 at 34th St., Texas City | Randall’s +, Big Lots (O.B.O.), Dollar Tree | 97,000 | 100,000 | 197,000 | ||
Broadway, S. Broadway at W. 9th St., Tyler | SteinMart | 60,000 | 0 | 60,000 | ||
Crossroads, I-10 at N. Main, Vidor | Market Basket +, Beall’s, Baskin’s, Burke’s Outlet | 116,000 | 0 | 116,000 | ||
Watauga Towne Center, Hwy. 377 at Bursey Rd., Watauga | Albertsons + (O.B.O.) | 65,000 | 61,000 | 126,000 | ||
Florida, Total | 3,964,000 | 817,000 | 4,781,000 | |||
Boca Lyons, Glades Rd. at Lyons Rd., Boca Raton | Ross Dress for Less, Ethan Allen | 117,000 | 0 | 117,000 | ||
Sunset 19, US Hwy. 19 at Sunset Pointe Rd., Clearwater | Publix +, Bed Bath & Beyond, Staples, Comp USA, Barnes & Noble, Sports Authority, Old Navy | 273,000 | 0 | 273,000 | ||
Embassy Lakes, Sheraton St. at Hiatus Rd., Cooper City | Winn Dixie +, Walgreen’s, Tuesday Morning | 132,000 | 48,000 | 180,000 | ||
Shoppes at Paradise Isle, 34940 Emerald Coast Pkwy, Destin (25%) | Best Buy, Linens N' Things, Michaels, Office Depot, PetsMart | 43,000 | * | 129,000 | 172,000 | |
Hollywood Hills Plaza, Hollywood Blvd. at North Park Rd., Hollywood | Publix +, Target, CVS/pharmacy | 365,000 | 0 | 365,000 | ||
Argyle Village, Blanding at Argyle Forest Blvd., Jacksonville | Bed Bath & Beyond, Publix +, T.J. Maxx, Babies “R” Us, Jo-Ann’s Fabrics | 305,000 | 0 | 305,000 | ||
T.J. Maxx Plaza, 117th Avenue at Sunset Blvd., Kendall | T.J. Maxx, Winn Dixie + | 162,000 | 0 | 162,000 | ||
Largo Mall, Ulmerton Rd. at Seminole Ave., Largo | Beall’s Department Stores, Marshall’s, PetsMart, Bed Bath & Beyond, Staples, Michael’s, Target (O.B.O.), Albertsons + (O.B.O.) | 378,000 | 198,000 | 576,000 | ||
Lake Washington Crossing, Wickham Rd. at Lake Washington Rd., Melbourne (25%) | Publix +, Beall’s Outlet Stores | 30,000 | * | 89,000 | 119,000 | |
Lake Washington Square, Wickham Rd. at Lake Washington Rd., Melbourne | Albertsons + | 112,000 | 0 | 112,000 | ||
Tamiami Trail Shops, S.W. 8th St. at S.W. 137th Ave., Miami | Publix +, CVS/pharmacy | 111,000 | 0 | 111,000 | ||
Northridge, E. Commercial Blvd. at Dixie Hwy., Oakland Park | Publix +, Petco, Ross Dress for Less, Anna's Linen | 234,000 | 0 | 234,000 | ||
Colonial Plaza, E. Colonial Dr. at Primrose Dr., Orlando | Staples, Circuit City, Ross Dress for Less, Linens ‘N Things, Babies “R” Us, Marshall’s, Old Navy, SteinMart, Barnes & Noble, Petco | 488,000 | 0 | 488,000 | ||
Market at Southside, Michigan Ave. at Delaney Ave., Orlando | Ross Dress for Less, Beall’s Outlet Stores, Dollar Tree, Albertsons + (O.B.O.) | 97,000 | 65,000 | 162,000 | ||
Phillips Landing, Turkey Lake Rd., Orlando | Wal-Mart (O.B.O) | 0 | # | 0 | 0 | |
Town Center at Timber Springs, Timber Springs Blvd. at Avalon Blvd., Orlando | Wal-Mart Neighborhood Market + (O.B.O.) | 0 | # | 0 | 0 | |
Westland Terrace Plaza, SR 50 at Apopka Vineland Rd., Orlando | T.J. Maxx, Petco, Shoe Carnival, Super Target + (O.B.O.) | 68,000 | 183,000 | 251,000 | ||
University Palms, Alafaya Trail at McCullough Rd., Oviedo | Publix +, Blockbuster | 99,000 | 0 | 99,000 | ||
Flamingo Pines, Pines Blvd. at Flamingo Rd., Pembroke Pines | Publix +, U.S. Post Office, Keiser College | 257,000 | 105,000 | 362,000 | ||
Pembroke Commons, University at Pines Blvd., Pembroke Pines | Publix +, Marshall’s, Office Depot, LA Fitness | 316,000 | 0 | 316,000 |
Page 21
Weingarten Realty Investors | ||||||
Property Listing at March 31, 2006 | ||||||
Gross Leasable Area | ||||||
WRI | Others | |||||
Center and Location | Anchors | Owned | (O.B.O.) | Total | ||
Florida, (Cont’d.) | ||||||
Publix at Laguna Isles, Sheridan St. at SW 196th Ave., Pembroke Pines | Publix + | 69,000 | 0 | 69,000 | ||
Vizcaya Square, Nob Hill Rd. at Cleary Blvd., Plantation | Winn Dixie + | 108,000 | 0 | 108,000 | ||
Venice Pines Plaza, Center Rd. at Jacaranda Blvd., Venice | Kash N Karry + | 97,000 | 0 | 97,000 | ||
Winter Park Corners, Aloma Ave. at Lakemont Ave., Winter Park | Whole Foods Market +, Outback Steakhouse | 103,000 | 0 | 103,000 | ||
California, Total | 3,307,000 | 452,000 | 3,759,000 | |||
Centerwood Plaza, Lakewood Blvd. at Alondra Dr., Bellflower | Bestway Supermarket + | 71,000 | 0 | 71,000 | ||
Southampton Center, IH-780 at Southampton Rd., Benecia | Raley’s + | 162,000 | 0 | 162,000 | ||
580 Marketplace, E. Castro Valley at Hwy. I-580, Castro Valley | P. W. Supermarkets + | 100,000 | 0 | 100,000 | ||
Chino Hills Marketplace, Chino Hills Pkwy. at Pipeline Ave., Chino Hills | Rite Aid, Von’s +, 24 Hour Fitness, Dollar Tree | 320,000 | 0 | 320,000 | ||
Buena Vista Marketplace, Huntington Dr. at Buena Vista St., Duarte | Ralphs + | 91,000 | 0 | 91,000 | ||
El Camino Promenade, El Camino Real at Via Molena, Encinitas | T.J. Maxx, AMC Theater, Beverages & More | 111,000 | 0 | 111,000 | ||
Fremont Gateway Plaza, Paseo Padre Pkwy. at Walnut Ave., Fremont | Raley’s +, NAZ Cinema, 24 Hour Fitness | 195,000 | 0 | 195,000 | ||
Hallmark Town Center, W. Cleveland Ave. at Stephanie Ln., Madera | Food 4 Less + , Bally’s | 85,000 | 0 | 85,000 | ||
Menifee Town Center, Antelope Rd. at Newport Rd., Menifee | Ralphs +, Target (O.B.O.), Ross Dress for Less | 124,000 | 124,000 | 248,000 | ||
Marshall’s Plaza, McHenry at Sylvan Ave., Modesto | Marshall’s, Dress Barn | 79,000 | 0 | 79,000 | ||
Prospectors Plaza, Missouri Flat Rd. at US Hwy. 50, Placerville | Albertsons +, Kmart, Long’s Drug Store | 228,000 | 0 | 228,000 | ||
Shasta Crossroads, Churn Creek Rd. at Dana Dr., Redding | Food Maxx +, Target (O.B.O.) | 121,000 | 131,000 | 252,000 | ||
Ralphs Redondo, Hawthorne Blvd. at 182nd St., Redondo Beach | Ralphs + | 67,000 | 0 | 67,000 | ||
Arcade Square, Watt Ave. at Whitney Ave., Sacramento | Grocery Outlet +, Hollywood Video | 76,000 | 0 | 76,000 | ||
Discovery Plaza, W. El Camino Ave. at Truxel Rd., Sacramento | Bel Air Market + | 93,000 | 0 | 93,000 | ||
Summerhill Plaza, Antelope Rd. at Lichen Dr., Sacramento | Raley’s + | 134,000 | 0 | 134,000 | ||
Silver Creek Plaza, E. Capital Expressway at Silver Creek Blvd., San Jose | Safeway +, Walgreen’s, Orchard Supply (O.B.O.) | 131,000 | 65,000 | 196,000 | ||
Greenhouse Marketplace, Lewelling Blvd. at Washington Ave., San Leandro | Safeway + (O.B.O.), Longs Drug Stores (O.B.O.), Big Lots, 99 Cents Only, Factory 2 U | 151,000 | 87,000 | 238,000 | ||
Rancho San Marcos Village, San Marcos Blvd. at Rancho Santa Fe Rd., San Marcos | Von’s + , 24 Hour Fitness | 121,000 | 0 | 121,000 | ||
San Marcos Plaza, San Marcos Blvd. at Rancho Santa Fe Rd., San Marcos | Albertsons + (O.B.O.) | 36,000 | 45,000 | 81,000 | ||
Stony Point Plaza, Stony Point Rd. at Hwy. 12, Santa Rosa | Food Maxx +, Wal-Mart | 199,000 | 0 | 199,000 | ||
Sunset Center, Sunset Ave. at State Hwy. 12, Suisun City | Albertsons +, Rite Aid | 85,000 | 0 | 85,000 | ||
Creekside Center, Alamo Dr. at Nut Creek Rd., Vacaville | Raley’s + | 116,000 | 0 | 116,000 | ||
Westminster Center, Westminster Blvd. at Golden West St., Westminster | Albertsons +, Home Depot, Edward’s Cinema, Rite Aid, Petco | 411,000 | 0 | 411,000 | ||
Louisiana, Total | 1,792,000 | 1,264,000 | 3,056,000 | |||
Siegen Plaza, Siegen Lane at Honore Lane, Baton Rouge | Super Target + (O.B.O.), Ross Dress for Less, Conn’s, Petco | 155,000 | 194,000 | 349,000 | ||
Park Terrace, U.S. Hwy. 171 at Parish, DeRidder | Stage, JC Penney | 137,000 | 0 | 137,000 | ||
Town & Country Plaza, U.S. Hwy. 190 West, Hammond | Winn Dixie +, Office Depot, CVS/pharmacy, Goody’s | 227,000 | 0 | 227,000 | ||
Manhattan Place, Manhattan Blvd. at Gretna Blvd., Harvey | Target (O.B.O.), Ross Dress for Less, Stage | 133,000 | 125,000 | 258,000 | ||
Ambassador Plaza, Ambassador Caffery at W. Congress, Lafayette | Albertsons + (O.B.O.), Blockbuster | 29,000 | 73,000 | 102,000 | ||
River Marketplace, Ambassador Caffery at Kaliste Saloom, Lafayette (20%) | Ross Dress for Less, Stage, Cost Plus, Super Target + (O.B.O.), Books A Million | 34,000 | * | 307,000 | 341,000 | |
Westwood Village, W. Congress at Bertrand, Lafayette | Stage, Graham Central Station, Blockbuster | 141,000 | 0 | 141,000 | ||
Conn’s Building, Ryan at 17th St., Lake Charles | Planet Pets | 23,000 | 0 | 23,000 | ||
14/Park Plaza, Hwy. 14 at General Doolittle, Lake Charles | Kroger +, Stage, Conn’s | 207,000 | 0 | 207,000 | ||
Kmart Plaza, Ryan St., Lake Charles | Albertsons +, Kmart, Stage | 105,000 | * | 105,000 | 210,000 |
Page 22
Weingarten Realty Investors | ||||||
Property Listing at March 31, 2006 | ||||||
Gross Leasable Area | ||||||
WRI | Others | |||||
Center and Location | Anchors | Owned | (O.B.O.) | Total | ||
Louisiana, (Cont'd) | ||||||
Prien Lake Plaza, Prien Lake Rd. at Nelson Rd., Lake Charles | Target (O.B.O.), Marshall’s, Ross Dress for Less, Bed Bath & Beyond | 127,000 | 125,000 | 252,000 | ||
Southgate, Ryan at Eddy, Lake Charles | Market Basket +, Office Depot, Books A Million | 171,000 | 0 | 171,000 | ||
Orleans Station, Paris, Robert E. Lee at Chatham, New Orleans | 5,000 | 0 | 5,000 | |||
Danville Plaza, Louisville at 19th, Monroe | County Market +, Citi Trends, Surplus Warehouse | 144,000 | 0 | 144,000 | ||
University Place, 70th St. at Youree Dr., Shreveport (20%) | Super Target + (O.B.O.), Best Buy, T.J. Maxx, CVS/pharmacy, Bed Bath & Beyond | 41,000 | * | 335,000 | 376,000 | |
Westwood, Jewella at Greenwood, Shreveport | Super 1 Grocery +, Citi Trends | 113,000 | 0 | 113,000 | ||
Nevada, Total | 2,413,000 | 747,000 | 3,160,000 | |||
Eastern Horizon, Eastern Ave. at Horizon Ridge Pkwy., Henderson | Kmart + (O.B.O.) | 67,000 | 144,000 | 211,000 | ||
Best in the West Shopping Center, Rainbow at Lake Mead Rd., Las Vegas | Best Buy, Borders, Bed Bath & Beyond, Babies ‘R’ Us, DSW Shoes, Office Depot, Old Navy, PetsMart, Jo-Ann Stores | 437,000 | 0 | 437,000 | ||
Francisco Centre, E. Desert Inn Rd. at S. Eastern Ave., Las Vegas | Ross Dress for Less (O.B.O.), Sav-On Drug | 116,000 | 32,000 | 148,000 | ||
Mission Center, Flamingo Rd. at Maryland Pkwy, Las Vegas | Sav-On Drug (O.B.O.), Albertsons + (O.B.O.), Toys “R” Us, T.J. Maxx | 152,000 | 55,000 | 207,000 | ||
Paradise Marketplace, Flamingo Rd. at Sandhill, Las Vegas | Smith’s Food +, Dollar Tree | 149,000 | 0 | 149,000 | ||
Rainbow Plaza, Rainbow Blvd. at Charleston Blvd., Las Vegas | Albertsons +, JC Penney, Ultimate Electronics, Home Depot, 24 Hour Fitness | 410,000 | 0 | 410,000 | ||
Rancho Towne & Country, Rancho Dr. at Charleston Blvd., Las Vegas | Smith’s Food + | 87,000 | 0 | 87,000 | ||
Tropicana Beltway S. C., Tropicana Beltway at Fort Apache Rd., Las Vegas | Lowe’s (O.B.O.), Wal-Mart Supercenter + (O.B.O.), PetsMart, Office Depot, Ross Dress for Less, 99 Cent Only, Sports Authority | 122,000 | * | 516,000 | 638,000 | |
Tropicana Marketplace, Tropicana at Jones Blvd., Las Vegas | Smith’s Food +, Family Dollar | 143,000 | 0 | 143,000 | ||
Westland Fair, Charleston Blvd. At Decatur Blvd., Las Vegas | Wal-Mart Supercenter +, Lowe’s, PetsMart, Office Depot, Michaels | 566,000 | 0 | 566,000 | ||
College Park, E. Lake Mead Blvd. at Civic Ctr. Dr., North Las Vegas | Albertsons +, Sav-On Drug | 164,000 | 0 | 164,000 | ||
North Carolina, Total | 2,380,000 | 608,000 | 2,988,000 | |||
Capital Square, Capital Blvd. at Huntleigh Dr., Cary | Food Lion + | 157,000 | 0 | 157,000 | ||
Harrison Pointe Center, Harrison Ave. at Maynard Rd., Cary | Harris Teeter +, Staples | 124,000 | 0 | 124,000 | ||
High House Crossing, NC Hwy 55 at Green Level W. Rd., Cary | Harris Teeter + | 90,000 | 0 | 90,000 | ||
Northwoods Market, Maynard Rd. at Harrison Ave., Cary | Food Lion + | 78,000 | 0 | 78,000 | ||
Parkway Pointe, Cory Parkway at S. R. 1011, Cary | Food Lion +, Eckerd’s | 80,000 | 0 | 80,000 | ||
Chatham Crossing, US 15/501 at Plaza Dr., Chapel Hill (25%) | Lowes Food +, CVS/Pharmacy | 24,000 | * | 72,000 | 96,000 | |
Johnston Road Plaza, Johnston Rd. at McMullen Creek Pkwy., Charlotte | Food Lion+ | 80,000 | 0 | 80,000 | ||
Steele Creek Crossing, York Rd. at Steele Creek Rd., Charlotte | BI-LO +, Eckerd’s | 77,000 | 0 | 77,000 | ||
Whitehall Commons, NWC of Hwy. 49 at I-485, Charlotte | Blockbuster, Wal-Mart Supercenter + (O.B.O.), Lowes (O.B.O.), BI-LO + (O.B.O.) | 33,000 | 403,000 | 436,000 | ||
Bull City Market, Broad St. at West Main St., Durham | Whole Foods Market + | 43,000 | 0 | 43,000 | ||
Durham Festival, Hillsborough Rd. at LaSalle St., Durham | Kroger + | 134,000 | 0 | 134,000 | ||
Mineral Springs Village, Mineral Springs Rd. at Wake Forest Rd., Durham | Food Lion +, Eckerd’s | 58,000 | 0 | 58,000 | ||
Ravenstone Commons, Hwy 98 at Sherron Rd., Durham | Food Lion +, Blockbuster | 60,000 | 0 | 60,000 | ||
Waterford Village, US Hwy 17 & US Hwy 74/76, Leland (75%) | Harris Teeter + | 0 | # * | 0 | 0 | |
Pinecrest Plaza, Hwy. 15-501 at Morganton Rd., Pinehurst | Food Lion +, Michael’s, Goody’s, Belk’s | 250,000 | 0 | 250,000 | ||
Avent Ferry, Avent Ferry Rd. at Gorman St., Raleigh | Food Lion + | 117,000 | 0 | 117,000 | ||
Falls Pointe, Neuce Rd. at Durant Rd., Raleigh | Harris Teeter +, Kohl’s (O.B.O.) | 103,000 | 86,000 | 189,000 | ||
Leesville Town Centre, Leesville Rd. at Leesville Church Rd., Raleigh | Harris Teeter + | 114,000 | 0 | 114,000 | ||
Lynnwood Collection, Creedmoor Rd at Lynn Road, Raleigh | Kroger + | 86,000 | 0 | 86,000 | ||
Six Forks Station, Six Forks Rd. at Strickland Rd., Raleigh | Kmart, Home Depot, Food Lion +, Bed Bath & Beyond | 468,000 | 0 | 468,000 | ||
Stonehenge Market, Creedmoor Rd. at Bridgeport Dr., Raleigh | Harris Teeter +, SteinMart, Eckerd’s | 188,000 | 0 | 188,000 | ||
Heritage Station, Forestville Rd. at Rogers Rd., Wake Forest (25%) | Harris Teeter + | 16,000 | * | 47,000 | 63,000 | |
The Shoppes at Caveneness Farms, Capitol Boulevard and Caveness Farms Avenue, Wake Forest | 0 | # | 0 | 0 |
Page 23
Weingarten Realty Investors | ||||||
Property Listing at March 31, 2006 | ||||||
Gross Leasable Area | ||||||
WRI | Others | |||||
Center and Location | Anchors | Owned | (O.B.O.) | Total | ||
Arizona, Total | 1,305,000 | 766,000 | 2,071,000 | |||
Palmilla Center, Dysart Rd. at McDowell Rd., Avondale | Office Max, PetsMart, Dollar Tree, Fry’s Supermarket + (O.B.O.) | 104,000 | 65,000 | 169,000 | ||
University Plaza, Plaza Way at Milton Rd., Flagstaff | PetsMart, Safeway +, Ross Dress for Less, Bed Bath & Beyond | 162,000 | 0 | 162,000 | ||
Val Vista Towne Center, Warner at Val Vista Rd., Gilbert | Target (O.B.O.), Staples, Ross Dress for Less, Petco | 93,000 | 123,000 | 216,000 | ||
Arrowhead Festival, 75th Ave. at W. Bell Rd., Glendale | Borders (O.B.O.), Sports Authority (O.B.O.), Toys “R” Us (O.B.O.), Bed Bath & Beyond (O.B.O.) | 30,000 | 147,000 | 177,000 | ||
Fry’s Ellsworth Plaza, Broadway Rd. at Ellsworth Rd., Mesa | Fry’s Supermarket + (O.B.O.) | 9,000 | 65,000 | 74,000 | ||
Monte Vista Village Center, Baseline Rd. at Ellsworth Rd., Mesa | Safeway + (O.B.O.) | 46,000 | 58,000 | 104,000 | ||
Red Mountain Gateway, Power Rd. at McKellips Rd., Mesa | Target (O.B.O.), Bed Bath & Beyond, Famous Footwear | 70,000 | 136,000 | 206,000 | ||
Camelback Village Square, Camelback at 7th Avenue, Phoenix | Fry’s Supermarket +, Target (O.B.O.), Office Max | 135,000 | 100,000 | 235,000 | ||
Laveen Village Market, Baseline Rd. at 51st St., Phoenix | Fry’s Supermarket + (O.B.O.) | 36,000 | 72,000 | 108,000 | ||
Rancho Encanto, 35th Avenue at Greenway Rd., Phoenix | Berean Christian Bookstore, Blockbuster | 74,000 | 0 | 74,000 | ||
Squaw Peak Plaza, 16th Street at Glendale Ave., Phoenix | Basha’s + | 61,000 | 0 | 61,000 | ||
Fountain Plaza, 77th St. at McDowell, Scottsdale | Fry’s Supermarket +, Dollar Tree | 105,000 | 0 | 105,000 | ||
Basha Valley Plaza, S. McClintock at E. Southern, Tempe | Basha’s + | 145,000 | 0 | 145,000 | ||
Broadway Marketplace, Broadway at Rural, Tempe | Office Max, Ace Hardware | 83,000 | 0 | 83,000 | ||
Pueblo Anozira, McClintock Dr. at Guadalupe Rd., Tempe | Fry’s Food & Drug +, Petco, Dollar Tree | 152,000 | 0 | 152,000 | ||
New Mexico, Total | 1,182,000 | 397,000 | 1,579,000 | |||
Eastdale, Candelaria Rd. at Eubank Blvd., Albuquerque | Albertsons +, Family Dollar | 118,000 | 0 | 118,000 | ||
North Towne Plaza, Academy Rd. at Wyoming Blvd., Albuquerque | Whole Foods Market +, Borders | 103,000 | 0 | 103,000 | ||
Pavilions at San Mateo, I-40 at San Mateo, Albuquerque | Comp USA, Old Navy, Shoe Show, Circuit City, Linens ‘N Things | 196,000 | 0 | 196,000 | ||
Plaza at Cottonwood, Coors Bypass Blvd. at Seven Bar Loop Rd., Albuquerque | Staples, PetsMart, Wal-Mart Supercenter +(O.B.O.), Home Depot (O.B.O.) | 84,000 | 334,000 | 418,000 | ||
Valle del Sol, Isleta Blvd. at Rio Bravo, Albuquerque | Albertsons +, Walgreen’s | 106,000 | 0 | 106,000 | ||
Wyoming Mall, Academy Rd. at Northeastern, Albuquerque | John Brooks Grocery + | 326,000 | 0 | 326,000 | ||
DeVargas, N. Guadalupe at Paseo de Peralta, Santa Fe | Albertsons + (O.B.O.), Osco Drugs, Ross Dress for Less, Office Depot, Hastings, United Artists | 249,000 | 63,000 | 312,000 | ||
Colorado, Total | 1,212,000 | 1,622,000 | 2,834,000 | |||
Aurora City Place, E. Alameda at I225, Aurora | PetsMart, Sportsman Warehouse, Linens ‘N Things, Barnes & Noble, Comp USA, Ross Dress For Less, Super Target + (O.B.O.), Pier 1 | 173,000 | * | 355,000 | 528,000 | |
Bridges at Smoky Hill, Smoky Hill Rd. at S. Picadilly St., Aurora | Rite Aid (O.B.O.) | 10,000 | * | 49,000 | 59,000 | |
Academy Place, Academy Blvd. at Union Blvd., Colorado Springs | Safeway + (O.B.O.), Ross Dress For Less (O.B.O.), Target (O.B.O.) | 84,000 | 177,000 | 261,000 | ||
Carefree, Academy Blvd. at N. Carefree Circle, Colorado Springs | Safeway + | 127,000 | 0 | 127,000 | ||
Uintah Gardens, NEC 19th St. at West Uintah, Colorado Springs | King Sooper’s, Walgreens | 212,000 | 0 | 212,000 | ||
Green Valley Ranch Towne Center, Tower Rd. at 48th Ave., Denver (37%) | King Sooper’s + (O.B.O.) | 17,000 | * | 87,000 | 104,000 | |
Lowry Town Center, 2nd Ave. at Lowry Ave., Denver | Albertsons + (O.B.O.) | 39,000 | * | 92,000 | 131,000 | |
Gold Creek Center, Hwy. 86 at Elizabeth St., Elizabeth | Safeway + (O.B.O.) | 13,000 | * | 67,000 | 80,000 | |
City Center Englewood, S. Santa Fe at Hampden Ave., Englewood | Wal-Mart (O.B.O.), Ross Dress for Less, Gart Sports, Office Depot, Bally Total Fitness, Petco | 217,000 | 90,000 | 307,000 | ||
Glenwood Meadows, Midland Ave. at W. Meadows, Glenwood Springs (41%) | Target (O.B.O.), Pier 1, Gart Sports, Bed Bath & Beyond, Petco, Lowe's | 92,000 | * | 258,000 | 350,000 | |
University Park, Highlands Ranch at University Blvd., Highlands Ranch (40%) | Whole Foods Market + | 35,000 | * | 53,000 | 88,000 | |
Crossing at Stonegate, Jordon Rd. at Lincoln Ave., Parker (38%) | King Sooper’s + | 41,000 | * | 68,000 | 109,000 | |
Thorncreek Crossing, Washington St. at 120th St., Thornton | Target (O.B.O.), Barnes & Noble, Office Max, Michael’s, Pier 1, Cost Plus, Linens ‘N Things | 106,000 | * | 280,000 | 386,000 | |
Westminster Plaza, North Federal Blvd. at 72nd Ave., Westminster | Safeway + | 46,000 | * | 46,000 | 92,000 |
Page 24
Weingarten Realty Investors | ||||||
Property Listing at March 31, 2006 | ||||||
Gross Leasable Area | ||||||
WRI | Others | |||||
Center and Location | Anchors | Owned | (O.B.O.) | Total | ||
Kansas, Total | 690,000 | 46,000 | 736,000 | |||
Regency Park, 93rd St. at Metcalf Ave., Overland Park | Marshall’s, Borders, Michael’s | 202,000 | 46,000 | 248,000 | ||
Westbrooke Village, Quivira Rd. at 75th St., Shawnee | Dillon’s +, DSW Shoe Warehouse, K & G Menstore | 237,000 | 0 | 237,000 | ||
Shawnee Village, Shawnee Mission Pkwy. at Quivera Rd., Shawnee | Burlington Coat Factory | 135,000 | 0 | 135,000 | ||
Kohl’s, Wanamaker Rd. at S.W. 17th St., Topeka | Barnes & Noble, Kohl’s Department Store | 116,000 | 0 | 116,000 | ||
Oklahoma, Total | 654,000 | 48,000 | 702,000 | |||
Bryant Square, Bryant Ave. at 2nd St., Edmond | Bed Bath & Beyond, SteinMart, Ross Dress for Less | 282,000 | 0 | 282,000 | ||
Market Boulevard, E. Reno Ave. at N. Douglas Ave., Midwest City | Colortyme | 36,000 | 0 | 36,000 | ||
Town & Country, Reno Ave at North Air Depot, Midwest City | Office Depot, Big Lots, Westlake Hardware | 138,000 | 0 | 138,000 | ||
Windsor Hills Center, Meridian at Windsor Place, Oklahoma City | Big Lots, Crest Foods + (O.B.O.) | 198,000 | 48,000 | 246,000 | ||
Arkansas, Total | 636,000 | 0 | 636,000 | |||
Evelyn Hills, College Ave. at Abshier, Fayetteville | Ozark Natural Foods + | 128,000 | 0 | 128,000 | ||
Geyer Springs, Geyer Springs at Baseline, Little Rock | Budget Saver +, Citi Trends | 153,000 | 0 | 153,000 | ||
Markham Square, W. Markham at John Barrow, Little Rock | Burlington Coat Factory | 127,000 | 0 | 127,000 | ||
Markham West, 11400 W. Markham, Little Rock | Office Depot, Michael’s, Academy, Bassett Furniture, Dollar Tree | 178,000 | 0 | 178,000 | ||
Westgate, Cantrell at Bryant, Little Rock | SteinMart | 50,000 | 0 | 50,000 | ||
Tennessee, Total | 576,000 | 0 | 576,000 | |||
Bartlett Towne Center, Bartlett Blvd. at Stage Rd., Bartlett | Kroger +, Petco, Dollar Tree, Shoe Carnival | 179,000 | 0 | 179,000 | ||
Commons at Dexter Lake, Dexter at N. Germantown, Memphis | Kroger +, SteinMart, Marshall’s | 229,000 | 0 | 229,000 | ||
Highland Square, Summer at Highland, Memphis | Walgreen’s | 14,000 | 0 | 14,000 | ||
Summer Center, Summer Ave. at Waring Rd., Memphis | Kroger + | 154,000 | 0 | 154,000 | ||
Missouri, Total | 366,000 | 28,000 | 394,000 | |||
Ballwin Plaza, Manchester Rd. at Vlasis Dr., Ballwin | Schnucks +, Michael’s, Sears | 203,000 | 0 | 203,000 | ||
Western Plaza, Hwy 141 at Hwy 30, Fenton | Big Lots | 28,000 | * | 28,000 | 56,000 | |
PineTree Plaza, U.S. Hwy. 50 at Hwy. 291, Lee’s Summit | Price Chopper +, Brook Mays Music Co. | 135,000 | 0 | 135,000 | ||
Georgia, Total | 774,000 | 174,000 | 948,000 | |||
Brookwood Square, East-West Connector at Austell Rd., Austell | Marshall’s, Staples, Home Depot | 253,000 | 0 | 253,000 | ||
Thompson Bridge Commons, Thompson Bridge Rd. at Mt. Vernon Rd., Gainesville | Kroger + | 78,000 | 0 | 78,000 | ||
Grayson Commons Shopping Center, Grayson Hwy at Rosebud Rd., Grayson | Kroger + | 77,000 | 0 | 77,000 | ||
Village Shoppes of Sugarloaf, Sugarloaf Pkwy at Five Forks Trickum Rd., Lawrenceville | Publix + | 148,000 | 0 | 148,000 | ||
Sandy Plains Exchange, Sandy Plains at Scufflegrit, Marietta | Publix + | 73,000 | 0 | 73,000 | ||
Roswell Corners, Woodstock Rd. at Hardscrabble Rd., Roswell | Staples, T.J. Maxx, Super Target + (O.B.O.) | 145,000 | 174,000 | 319,000 | ||
Utah, Total | 292,000 | 341,000 | 633,000 | |||
Alpine Valley Center, Main St. at State St., American Fork (33%) | Target (O.B.O.), Old Navy, Pier 1, Dollar Tree | 22,000 | * | 178,000 | 200,000 | |
Taylorsville Town Center, West 4700 South at Redwood Rd., Taylorsville | Albertsons + (O.B.O.),Rite Aid | 94,000 | 40,000 | 134,000 | ||
West Jordan Town Center, West 7000 South at S. Redwood Rd., West Jordan | Albertsons + , Office Depot, Target (O.B.O.), Petco, Party City | 176,000 | 123,000 | 299,000 | ||
Illinois, Total | 273,000 | 121,000 | 394,000 | |||
Lincoln Place Centre, Hwy. 59, Fairview Heights | Lowe’s (O.B.O.), Kohl’s Department Store | 103,000 | 121,000 | 224,000 | ||
Lincoln Place II, Route 159 at Hwy. 50, Fairview Heights | Office Depot, Marshall’s, Old Navy, Linens ‘N Things | 170,000 | 0 | 170,000 |
Page 25
Weingarten Realty Investors | ||||||
Property Listing at March 31, 2006 | ||||||
Gross Leasable Area | ||||||
WRI | Others | |||||
Center and Location | Anchors | Owned | (O.B.O.) | Total | ||
Maine, Total | 154,000 | 51,000 | 205,000 | |||
The Promenade, Essex at Summit, Lewiston (75%) | Staples, Flagship Cinemas | 154,000 | * | 51,000 | 205,000 | |
Kentucky, Total | 471,000 | 76,000 | 547,000 | |||
Millpond Center, Boston at Man O’War, Lexington | Kroger + | 117,000 | 27,000 | 144,000 | ||
Tates Creek, Tates Creek at Man O’ War, Lexington | Kroger +, Rite Aid , Do It Best Hardware | 185,000 | 0 | 185,000 | ||
Festival at Jefferson Court, Outer Loop at Jefferson Blvd., Louisville | Kroger +, PetsMart (O.B.O.), Factory Card Outlet, Sofa Express, AJ Wright (O.B.O.) | 169,000 | 49,000 | 218,000 | ||
Washington, Total | 0 | 133,000 | 133,000 | |||
Village at Liberty Lake, E. Country Vista Dr. at N. Liberty Rd., Liberty Lake | Home Depot (O.B.O) | 0 | # * | 133,000 | 133,000 | |
South Carolina, Total | 22,000 | 65,000 | 87,000 | |||
Fresh Market Shoppes, 890 William Hilton Head Pkwy, Hilton Head (25%) | The Fresh Market +, Bonefish Grill | 22,000 | * | 65,000 | 87,000 | |
INDUSTRIAL | ||||||
Houston and Harris County, Total | 3,296,000 | 1,916,000 | 5,212,000 | |||
Beltway 8 Business Park, Beltway 8 at Petersham Dr. | Terminix, Carrier | 158,000 | 0 | 158,000 | ||
Blankenship Building, Kempwood Drive | Classic Printers | 59,000 | 0 | 59,000 | ||
Brookhollow Business Center, Dacoma at Directors Row | Bristol Babcock, Harris County Appraisal District, Surgeon's Management | 133,000 | 0 | 133,000 | ||
Central Park Northwest VI, Central Pkwy. at Dacoma | Houston Metallurgical Lab, Inc. | 175,000 | 0 | 175,000 | ||
Central Park Northwest VII, Central Pkwy. at Dacoma | Lucent Technologies, Inc. | 103,000 | 0 | 103,000 | ||
Claywood Industrial Park, Clay at Hollister | Academy, Ltd. | 330,000 | 0 | 330,000 | ||
Crosspoint Warehouse, Crosspoint | Foam Enterprises, LLC. | 73,000 | 0 | 73,000 | ||
Jester Plaza, West T.C. Jester | Corporate Care of Houston, Milwaukee Electric Tool Corporation | 101,000 | 0 | 101,000 | ||
Kempwood Industrial, Kempwood Dr. at Blankenship Dr. | Pioneer Contract Services | 113,000 | 0 | 113,000 | ||
Kempwood Industrial, Kempwood Dr. at Blankenship Dr. (20%) | Pioneer Contract Services, Veritas | 42,000 | * | 165,000 | 207,000 | |
Lathrop Warehouse, Lathrop St. at Larimer St. (20%) | United D.C., Inc. | 51,000 | * | 202,000 | 253,000 | |
Nasa One Business Center, Nasa Road One at Hwy. 3 | Brinks, Devoe Paint | 112,000 | 0 | 112,000 | ||
Navigation Business Park, Navigation at N. York (20%) | Packwell Inc. | 47,000 | * | 191,000 | 238,000 | |
Northway Park II, Loop 610 East at Homestead (20%) | Jet Lube, Inc. | 61,000 | * | 242,000 | 303,000 | |
Railwood F, Market at U.S. 90 (20%) | Shell Oil Company | 60,000 | * | 240,000 | 300,000 | |
Railwood Industrial Park, Mesa at U.S. 90 | Distribution International, Advo Systems, Global Stainless Supply, Inc., Houston Central Industries, Inc., USF Distribution | 616,000 | 0 | 616,000 | ||
Railwood Industrial Park, Mesa at U.S. 90 (20%) | Jacobson Warehouse | 99,000 | * | 399,000 | 498,000 | |
South Loop Business Park, S. Loop at Long Dr. (50%) | All Current Electric | 46,000 | * | 46,000 | 92,000 | |
Southport Business Park 5, South Loop 610 | USF Surface Preparation | 161,000 | 0 | 161,000 | ||
Southwest Park II, Rockley Road | Bioassay Laboratory, Inc. | 68,000 | 0 | 68,000 | ||
Stonecrest Business Center, Wilcrest at Fallstone | Rentokil, Inc. | 111,000 | 0 | 111,000 | ||
West-10 Business Center, Wirt Rd. at I-10 | Aaron’s Office Furniture | 129,000 | 0 | 129,000 | ||
West-10 Business Center II, Wirt Rd. at I-10 | Summers Group, Inc. | 83,000 | 0 | 83,000 | ||
Westgate Service Center, Park Row Drive at Whiteback Dr. | Mattress Expo, Solartron | 119,000 | 0 | 119,000 | ||
West Loop Commerce Center, W. Loop N. at I-10 | Inter-Tel Technologies | 34,000 | 0 | 34,000 | ||
610 at 11th St. Warehouse, Loop 610 at 11th St. | Prefco Corp. | 105,000 | 0 | 105,000 | ||
610 at 11th St. Warehouse, Loop 610 at 11th St. (20%) | Iron Mountain, Stone Container | 48,000 | * | 195,000 | 243,000 | |
610/288 Business Park, Cannon Street (20%) | Houston Distribution Services | 59,000 | * | 236,000 | 295,000 | |
Texas (excluding Houston & Harris Co.), Total | 3,679,000 | 0 | 3,679,000 | |||
Randol Mill Place, Randol Mill Road, Arlington | Premier Products | 55,000 | 0 | 55,000 | ||
Braker 2 Business Center, Kramer Ln. at Metric Blvd., Austin | Digital Transaction Group, Inc. | 27,000 | 0 | 27,000 | ||
Corporate Center I & II, Putnam Dr. at Research Blvd., Austin | Phoenix - Lamar Corp, Apria Healthcare, Inc. | 117,000 | 0 | 117,000 | ||
Oak Hill Business Park, Industrial Oaks Blvd., Austin | Terracon, Inc., Nanocoolers, Inc. | 90,000 | 0 | 90,000 | ||
Rutland 10 Business Center, Metric Blvd. At Centimeter Circle, Austin | Minimax, Media Event Concepts, Inc. | 54,000 | 0 | 54,000 | ||
Southpark A,B,C., East St. Elmo Rd. at Woodward St., Austin | HJV Associates, Inc. | 78,000 | 0 | 78,000 | ||
Southpoint Service Center, Burleson at Promontory Point Dr., Austin | K & S Interconnect | 54,000 | 0 | 54,000 |
Page 26
Weingarten Realty Investors | ||||||
Property Listing at March 31, 2006 | ||||||
Gross Leasable Area | ||||||
WRI | Others | |||||
Center and Location | Anchors | Owned | (O.B.O.) | Total | ||
INDUSTRIAL, (Cont’d) | ||||||
Texas (excluding Houston & Harris Co.), (Cont’d) | ||||||
Wells Branch Corporate Center, Wells Branch Pkwy., Austin | RDA Promart | 59,000 | 0 | 59,000 | ||
1625 Diplomat Drive, SWC Diplomat Dr. at McDaniel Dr., Carrollton | Rooftop Systems, Inc. | 106,000 | 0 | 106,000 | ||
Midway Business Center, Midway at Boyington, Carrollton | ProSource, Luxury of Leather | 141,000 | 0 | 141,000 | ||
Manana Office Center, I-35 at Manana, Dallas | Omega Environmental Technologies, Dave & Busters | 223,000 | 0 | 223,000 | ||
Newkirk Service Center, Newkirk near N.W. Hwy., Dallas | Tri-Ed Distribution, Inc., AWC | 106,000 | 0 | 106,000 | ||
Northaven Business Center, Northaven Rd., Dallas | Dillon Gage, Quality Conservation | 151,000 | 0 | 151,000 | ||
Northeast Crossing Off/Svc Ctr., East N.W. Hwy. at Shiloh, Dallas | R/T Manufacturing | 79,000 | 0 | 79,000 | ||
Northwest Crossing Off/Svc Ctr., N.W. Hwy. at Walton Walker, Dallas | Corvette World | 127,000 | 0 | 127,000 | ||
Redbird Distribution Center, Joseph Hardin Drive, Dallas | Reid Plastics, Inc. Texwood Industries, L.P. | 111,000 | 0 | 111,000 | ||
Regal Distribution Center, Leston Avenue, Dallas | Document Management Systems, BKM Total Office of Texas, L.P., Global Furniture | 203,000 | 0 | 203,000 | ||
Space Center Industrial Park, Pulaski St. at Irving Blvd., Dallas | Weir’s Furniture Village, Facility Interiors, Inc. | 265,000 | 0 | 265,000 | ||
Walnut Trails Business Park, Walnut Hill Lane, Dallas | Flores Events | 104,000 | 0 | 104,000 | ||
McGraw Hill Distribution Center, 420 E. Danieldale Rd, DeSoto | McGraw Hill | 418,000 | 0 | 418,000 | ||
Central Plano Business Park, Klein Rd. at Plano Pkwy., Plano | Motion Dynamics, Inc., CK Management | 138,000 | 0 | 138,000 | ||
Jupiter Service Center, Jupiter near Plano Pkwy., Plano | Interceramic Tile, Computerized Cutters | 78,000 | 0 | 78,000 | ||
Sherman Plaza Business Park, Sherman at Phillips, Richardson | Leggett & Platt, Inc., The Volkswagen Store | 101,000 | 0 | 101,000 | ||
Interwest Business Park, Alamo Downs Parkway, San Antonio | All-American Sports | 218,000 | 0 | 218,000 | ||
ISOM Business Park, 919-981 Isom Road, San Antonio | Fidelity Output Solutions, Wells Fargo Bank | 175,000 | 0 | 175,000 | ||
O’Connor Road Business Park, O’Connor Road, San Antonio | Ingersoll Rand | 150,000 | 0 | 150,000 | ||
Freeport Business Center, 13215 N. Promenade Blvd., Stafford | Fairfield Industries, Applera Corporation, Gurtwitch Products | 251,000 | 0 | 251,000 | ||
Georgia, Total | 1,568,000 | 0 | 1,568,000 | |||
Atlanta Industrial Park, Atlanta Industrial Pkwy. at Atlanta Industrial Dr., Atlanta | Target Container Co., Sanderson Industries, Inc. | 552,000 | 0 | 552,000 | ||
Sears Logistics, 3700 Southside Industrial Way, Atlanta | Sears Logistics Services, Inc. | 403,000 | 0 | 403,000 | ||
Southside Industrial Parkway, Southside Industrial Pkwy at Jonesboro Rd., Atlanta | Lowe Supply, Inc., Mission Produce, Masco Contractor Services | 72,000 | 0 | 72,000 | ||
Kennesaw 75, 3850-3900 Kennesaw Prkwy, Kennesaw | American Hotel Register Co., Clorox Services Company | 178,000 | 0 | 178,000 | ||
6485 Crescent Dr., I-85 at Jimmy Carter Blvd., Norcross | Zurn, Pax Industries, Inc. | 363,000 | 0 | 363,000 | ||
Tennessee, Total | 1,509,000 | 0 | 1,509,000 | |||
Crowfarn Drive Warehouse, Crowfarn Dr. at Getwell Rd., Memphis | Integris Metals | 161,000 | 0 | 161,000 | ||
Outland Business Center, Outland Center Dr., Memphis | International Multifoods, TricorBraun, KMN Modern Farm Equipment, Inc., Quest Communications Corporation | 410,000 | 0 | 410,000 | ||
Southpoint I & II, Pleasant Hill Rd. at Shelby Dr., Memphis | AF Services, Sunnywood Products, Inc., Constar | 571,000 | 0 | 571,000 | ||
Southwide Warehouses #2-#4, Federal Compress Ind. Pk., Memphis | Partners Distribution, Inc. | 236,000 | 0 | 236,000 | ||
Thomas Street Warehouse, N. Thomas Street, Memphis | Ampro Industries, Inc. | 131,000 | 0 | 131,000 | ||
Florida, Total | 1,272,000 | 0 | 1,272,000 | |||
Lakeland Industrial Ctr., I-4 at County Rd., Lakeland | Rooms to Go, Amware Pallet Services, Publix | 600,000 | 0 | 600,000 | ||
1801 Massaro, 1801 Massaro Blvd., Tampa | MiTek Industries, Inc., Parksite, Inc. | 159,000 | 0 | 159,000 | ||
Tampa East Portfolio, 1841 Massaro Blvd., Tampa | General Electric, Hughes Supply, Interline Brands, GE Polymershapes | 513,000 | 0 | 513,000 | ||
California, Total | 727,000 | 0 | 727,000 | |||
Siempre Viva Business Park, Siempre Viva Rd. at Kerns St., San Diego | Hitachi Transport, UPS Supply Chain Solutions, Inc., Bose Corp., Air Tiger | 727,000 | 0 | 727,000 |
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Weingarten Realty Investors | |||||
Property Listing at March 31, 2006 | |||||
Gross Leasable Area | |||||
WRI | Others | ||||
Center and Location | Anchors | Owned | (O.B.O.) | Total | |
UNIMPROVED LAND | |||||
Houston & Harris County, Total | 2,402,000 | 2,402,000 | |||
Bissonnet at Wilcrest | 175,000 | 175,000 | |||
Citadel Plaza at 610 N. Loop | 137,000 | 137,000 | |||
East Orem | 122,000 | 122,000 | |||
Kirkwood at Dashwood Dr. | 322,000 | 322,000 | |||
Mesa Rd. at Tidwell | 901,000 | 901,000 | |||
Northwest Fwy. at Gessner | 422,000 | 422,000 | |||
S. Shaver St. | 17,000 | 17,000 | |||
W. Little York at Interstate 45 | 161,000 | 161,000 | |||
W. Loop N. at I-10 | 145,000 | 145,000 | |||
Texas (excluding Houston & Harris Co.), Total | 1,122,000 | 1,122,000 | |||
River Pointe Dr. at I-45, Conroe | 590,000 | 590,000 | |||
NEC of US Hwy 380 & Hwy 75, McKinney | 87,000 | 87,000 | |||
9th Ave. at 25th St., Port Arthur | 243,000 | 243,000 | |||
Hwy. 3 at Hwy. 1765, Texas City | 202,000 | 202,000 | |||
Louisiana, Total | 462,000 | 462,000 | |||
U.S. Hwy. 171 at Parish, DeRidder | 462,000 | 462,000 | |||
North Carolina, Total | 1,750,000 | 1,750,000 | |||
Capitol Boulevard and Caveness Farms Avenue, Wake Forest | 1,750,000 | 1,750,000 |
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Weingarten Realty Investors | |||||||
Property Listing at March 31, 2006 | |||||||
OWNED BY | |||||||
NUMBER OF | WRI | OTHERS | TOTAL | ||||
ALL PROPERTIES-BY LOCATION | PROPERTIES | OWNED | (O.B.O.) | SQ FTG | |||
Grand Total | 359 | 48,633,000 | 12,939,000 | 61,572,000 | |||
Houston & Harris County | 80 | 9,775,000 | 2,761,000 | 12,536,000 | |||
Texas (excluding Houston & Harris County) | 94 | 11,319,000 | 2,422,000 | 13,741,000 | |||
Florida | 27 | 5,236,000 | 817,000 | 6,053,000 | |||
California | 25 | 4,034,000 | 452,000 | 4,486,000 | |||
Louisiana | 16 | 1,792,000 | 1,264,000 | 3,056,000 | |||
Nevada | 11 | 2,413,000 | 747,000 | 3,160,000 | |||
North Carolina | 23 | 2,380,000 | 608,000 | 2,988,000 | |||
Georgia | 11 | 2,342,000 | 174,000 | 2,516,000 | |||
Tennessee | 9 | 2,085,000 | 0 | 2,085,000 | |||
Arizona | 15 | 1,305,000 | 766,000 | 2,071,000 | |||
New Mexico | 7 | 1,182,000 | 397,000 | 1,579,000 | |||
Kansas | 4 | 690,000 | 46,000 | 736,000 | |||
Oklahoma | 4 | 654,000 | 48,000 | 702,000 | |||
Arkansas | 5 | 636,000 | 0 | 636,000 | |||
Colorado | 14 | 1,212,000 | 1,622,000 | 2,834,000 | |||
Missouri | 3 | 366,000 | 28,000 | 394,000 | |||
Utah | 3 | 292,000 | 341,000 | 633,000 | |||
Illinois | 2 | 273,000 | 121,000 | 394,000 | |||
Maine | 1 | 154,000 | 51,000 | 205,000 | |||
Kentucky | 3 | 471,000 | 76,000 | 547,000 | |||
Washington | 1 | 0 | 133,000 | 133,000 | |||
South Carolina | 1 | 22,000 | 65,000 | 87,000 | |||
ALL PROPERTIES-BY CLASSIFICATION | |||||||
Grand Total | 359 | 48,633,000 | 12,939,000 | 61,572,000 | |||
Shopping Centers | 294 | 36,582,000 | 11,023,000 | 47,605,000 | |||
Industrial | 65 | 12,051,000 | 1,916,000 | 13,967,000 | |||
Notes: | * | Denotes partial ownership. WRI's interest is 50% except where noted. The square feet figures represent WRI's proportionate ownership of the property held by the joint venture or partnership. | |||||
+ | Denotes supermarket or discount store offering full service grocery along with general merchandise. | ||||||
# | Denotes property under development that does not currently have rental income on-line. | ||||||
Owned by Others ("O.B.O.") includes buildings owned entirely by a non-WRI legal entity and the proportionate ownership of WRI's partner(s) in various joint ventures and partnerships. |
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