EXHIBIT 99.2
![]() | |||||||||||
Supplemental Financial Information | |||||||||||
September 30, 2009 | |||||||||||
(Unaudited) | |||||||||||
Table of Contents | Page No. | |
Corporate Profile | 1 | |
Condensed Consolidated Statements of Income | 2 | |
Condensed Consolidated Balance Sheets | 3 | |
Summary Operating Data | 4 - 6 | |
Funds from Operations | ||
Dividends | ||
General and Administrative Expenses | ||
Net Operating Income | ||
Reconciliation of Funds from Operations for Exclusion of Non-Recurring Transactions | ||
Rentals | ||
Interest Expense | ||
Fee Income From Real Estate Joint Ventures and Partnerships | ||
Property | ||
Joint Venture Reporting | 7 - 10 | |
Financial Statements of Unconsolidated Real Estate Joint Ventures and Partnerships at 100% | ||
Financial Statements of Unconsolidated Real Estate Joint Ventures and Partnerships at Pro rata Share | ||
Investments in Unconsolidated Real Estate Joint Ventures & Partnerships | ||
Mortgage Debt Information for Unconsolidated Real Estate Joint Ventures & Partnerships | ||
Supplemental Analyst Information | 11 | |
Summary Balance Sheet Information | 12 | |
Common Share Data | ||
Capitalization | ||
Capital Availability | ||
Credit Ratings | ||
Debt Information | 13 - 14 | |
Outstanding Balance Summary | ||
Fixed vs. Variable Rate Debt | ||
Secured vs. Unsecured Debt | ||
Coverage Ratios | ||
Weighted Average Interest Rates | ||
Schedule of Maturities | ||
Other Information | 15 - 16 | |
Tenant Diversification | ||
Lease Expirations | ||
Leasing Production | ||
Average Minimum Rent per Square Foot | ||
Occupancy | ||
Property Information | 17 - 40 | |
Property Investment Summary | ||
New Development Properties (by Stabilization) | ||
New Development Property List & Estimated Final Investment Roll-Forward | ||
Land Held for Development and Quarterly Roll-Forward | ||
Disposition Summary | ||
Total Net Operating Income at Pro rata Share by Geographic Region | ||
Average Base Rents by CBSA | ||
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. |
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 September 30, 2009, we owned or operated under long-term leases, interests in 385 developed income-producing properties and 13 new development properties (including 10 which are income-producing), which are located in 23 states that span the United States from coast to coast. Included in the portfolio are 315 shopping centers, 80 industrial projects, and 3 other operating properties. Our interests in these properties aggregated approximately 46.0 million square feet of leasable area. Our properties were 91.1% leased as of September 30, 2009, 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 | ||
Dallas, TX | ||
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 | WRI-PD | |
Series E Preferred Shares | WRI-PE | |
Series F Preferred Shares | WRI-PF | |
8.1% 2019 Notes | WRD |
Page 1
Weingarten Realty Investors | |||||||||||||||||||||||||||||||||
Condensed Consolidated Statements of Income and Comprehensive Income | |||||||||||||||||||||||||||||||||
(in thousands, except per share amounts) | |||||||||||||||||||||||||||||||||
(as reported) | |||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||
September 30, | September 30, | Twelve Months Ended December 31, | |||||||||||||||||||||||||||||||
2009 | 2008 | 2009 | 2008 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||||||||||||
Revenues: | |||||||||||||||||||||||||||||||||
Rentals, net | $ | 139,636 | $ | 149,725 | $ | 422,106 | $ | 441,288 | $ | 584,956 | $ | 554,129 | $ | 500,685 | $ | 452,731 | |||||||||||||||||
Other | 4,908 | 4,242 | 12,321 | 10,310 | 13,852 | 13,197 | 6,689 | 6,056 | |||||||||||||||||||||||||
Total | 144,544 | 153,967 | 434,427 | 451,598 | 598,808 | 567,326 | 507,374 | 458,787 | |||||||||||||||||||||||||
Expenses: | |||||||||||||||||||||||||||||||||
Depreciation and amortization | 37,159 | 35,368 | 112,836 | 115,281 | 151,939 | 124,009 | 113,323 | 103,034 | |||||||||||||||||||||||||
Operating | 25,733 | 26,045 | 76,014 | 77,151 | 114,976 | 100,508 | 82,686 | 68,143 | |||||||||||||||||||||||||
Ad valorem taxes, net | 18,275 | 19,967 | 55,012 | 54,620 | 71,346 | 65,043 | 59,067 | 53,101 | |||||||||||||||||||||||||
Impairment loss | 32,774 | 32,774 | 52,539 | ||||||||||||||||||||||||||||||
General and administrative | 6,178 | 5,816 | 19,198 | 19,774 | 25,761 | 26,979 | 23,801 | 17,379 | |||||||||||||||||||||||||
Total | 120,119 | 87,196 | 295,834 | 266,826 | 416,561 | 316,539 | 278,877 | 241,657 | |||||||||||||||||||||||||
Operating Income | 24,425 | 66,771 | 138,593 | 184,772 | 182,247 | 250,787 | 228,497 | 217,130 | |||||||||||||||||||||||||
Interest Expense, net | (36,431 | ) | (40,878 | ) | (115,247 | ) | (118,724 | ) | (156,317 | ) | (156,248 | ) | (148,052 | ) | (128,565 | ) | |||||||||||||||||
Interest and Other Income, net | 3,596 | 1,171 | 8,504 | 3,919 | 4,333 | 8,485 | 9,043 | 2,849 | |||||||||||||||||||||||||
Equity in (Loss) Earnings of Real Estate Joint Ventures and Partnerships, net (a) | (4,763 | ) | 5,151 | 2,783 | 15,537 | 12,196 | 19,853 | 14,655 | 6,610 | ||||||||||||||||||||||||
Gain on Redemption of Convertible Senior Unsecured Notes | 16,453 | 25,311 | 12,961 | ||||||||||||||||||||||||||||||
Gain on Merchant Development Sales | 491 | 1,418 | 18,619 | 8,240 | 8,342 | 16,385 | 7,166 | 804 | |||||||||||||||||||||||||
(Provision) Benefit for Income Taxes | (4,364 | ) | (701 | ) | (7,071 | ) | (2,991 | ) | 10,191 | (4,073 | ) | (1,366 | ) | ||||||||||||||||||||
(Loss) Income from Continuing Operations | (593 | ) | 32,932 | 71,492 | 90,753 | 73,953 | 135,189 | 109,943 | 98,828 | ||||||||||||||||||||||||
Operating (Loss) Income from Discontinued Operations | (1,294 | ) | 2,016 | 1,250 | 8,398 | 9,922 | 17,404 | 30,310 | 39,120 | ||||||||||||||||||||||||
Gain on Sale of Property from Discontinued Operations | 398 | 4,520 | 7,385 | 53,983 | 68,722 | 83,659 | 145,494 | 65,459 | |||||||||||||||||||||||||
(Loss) Income from Discontinued Operations | (896 | ) | 6,536 | 8,635 | 62,381 | 78,644 | 101,063 | 175,804 | 104,579 | ||||||||||||||||||||||||
Gain (Loss) on Sale of Property | 994 | (43 | ) | 12,374 | 101 | 1,998 | 4,086 | 22,493 | 22,306 | ||||||||||||||||||||||||
Net (Loss) Income | (495 | ) | 39,425 | 92,501 | 153,235 | 154,595 | 240,338 | 308,240 | 225,713 | ||||||||||||||||||||||||
Less: | Net Income Attributable to Noncontrolling Interests | (20 | ) | (2,515 | ) | (2,894 | ) | (6,968 | ) | (8,943 | ) | (10,237 | ) | (6,414 | ) | (6,060 | ) | ||||||||||||||||
Net (Loss) Income Adjusted for Noncontrolling Interests | (515 | ) | 36,910 | 89,607 | 146,267 | 145,652 | 230,101 | 301,826 | 219,653 | ||||||||||||||||||||||||
Preferred Share Dividends | (8,869 | ) | (9,114 | ) | (26,607 | ) | (25,842 | ) | (34,711 | ) | (25,375 | ) | (10,101 | ) | (10,101 | ) | |||||||||||||||||
Redemption Costs of Preferred Shares | (860 | ) | (1,850 | ) | (1,850 | ) | |||||||||||||||||||||||||||
Net (Loss) Income Available to Common Shareholders | $ | (9,384 | ) | $ | 26,936 | $ | 63,000 | $ | 118,575 | $ | 109,091 | $ | 204,726 | $ | 291,725 | $ | 209,552 | ||||||||||||||||
Earnings Per Common Share - Basic | $ | (0.08 | ) | $ | 0.32 | $ | 0.59 | $ | 1.42 | $ | 1.29 | $ | 2.39 | $ | 3.33 | $ | 2.35 | ||||||||||||||||
Earnings Per Common Share - Diluted | $ | (0.08 | ) | $ | 0.32 | $ | 0.59 | $ | 1.41 | $ | 1.28 | $ | 2.35 | $ | 3.24 | $ | 2.31 | ||||||||||||||||
(a) See Page 8 for the Company's pro rata share of the operating results of its unconsolidated real estate joint ventures and partnerships. | |||||||||||||||||||||||||||||||||
Note: Prior periods have been restated to conform to the current year presentation for the adoption of FSP APB 14-1, "Accounting for Convertible Debt Instruments That May be Settled in Cash upon Conversion (Including Partial Cash Settlement)" (ASC 470) and SFAS 160, "Noncontrolling Interests in Consolidatd Financial Statements--an amendment of ARB No. 51 (ASC 810)." |
Page 2
Weingarten Realty Investors | ||||||||
Condensed Consolidated Balance Sheets | ||||||||
(in thousands, except per share amounts) | ||||||||
(as reported) | ||||||||
September 30, | December 31, | |||||||
2009 | 2008 | |||||||
ASSETS | ||||||||
Property | $ | 4,806,661 | $ | 4,915,472 | ||||
Accumulated Depreciation | (861,547 | ) | (812,323 | ) | ||||
Property Held for Sale, net | 51,007 | |||||||
Property, net | 3,996,121 | 4,103,149 | ||||||
Investment in Real Estate Joint Ventures and Partnerships, net (a) | 311,353 | 357,634 | ||||||
Total | 4,307,474 | 4,460,783 | ||||||
Notes Receivable from Real Estate Joint Ventures and Partnerships | 323,141 | 232,544 | ||||||
Unamortized Debt and Lease Costs, net | 109,661 | 119,464 | ||||||
Accrued Rent and Accounts Receivable (net of allowance for doubtful accounts of $9,608 in 2009 and $12,412 in 2008) | 84,948 | 103,873 | ||||||
Cash and Cash Equivalents | 104,694 | 58,946 | ||||||
Restricted Deposits and Mortgage Escrows | 14,526 | 33,252 | ||||||
Other, net | 92,854 | 105,350 | ||||||
Total | $ | 5,037,298 | $ | 5,114,212 | ||||
LIABILITIES AND EQUITY | ||||||||
Debt, net | $ | 2,724,888 | $ | 3,148,636 | ||||
Accounts Payable and Accrued Expenses | 152,022 | 179,432 | ||||||
Other, net | 98,791 | 90,461 | ||||||
Total | 2,975,701 | 3,418,529 | ||||||
Commitments and Contingencies | 41,000 | |||||||
Equity: | ||||||||
Shareholders' Equity: | ||||||||
Preferred Shares of Beneficial Interest - par value, $.03 per share; | ||||||||
shares authorized: 10,000 | ||||||||
6.75% Series D cumulative redeemable preferred shares of | ||||||||
beneficial interest; 100 shares issued and outstanding | ||||||||
in 2009 and 2008; liquidation preference $75,000 | 3 | 3 | ||||||
6.95% Series E cumulative redeemable preferred shares of | ||||||||
beneficial interest; 29 shares issued and outstanding in 2009 | ||||||||
and 2008; liquidation preference $72,500 | 1 | 1 | ||||||
6.5% Series F cumulative redeemable preferred shares of | ||||||||
beneficial interest; 140 shares issued and outstanding in 2009 | ||||||||
and 2008; liquidation preference $350,000 | 4 | 4 | ||||||
Common Shares of Beneficial Interest - par value, $.03 per share; | ||||||||
shares authorized: 150,000; shares issued and outstanding: | ||||||||
119,790 in 2009 and 87,102 in 2008 | 3,605 | 2,625 | ||||||
Accumulated Additional Paid-In Capital | 1,949,308 | 1,514,940 | ||||||
Net Income Less Than Accumulated Dividends | (80,015 | ) | (37,245 | ) | ||||
Accumulated Other Comprehensive Loss | (27,814 | ) | (29,676 | ) | ||||
Shareholders' Equity | 1,845,092 | 1,450,652 | ||||||
Noncontrolling Interest | 216,505 | 204,031 | ||||||
Total Equity | 2,061,597 | 1,654,683 | ||||||
Total | $ | 5,037,298 | $ | 5,114,212 | ||||
(a) This represents the Company's investment of its unconsolidated real estate joint ventures and partnerships. See page 8 for additional information. | ||||||||
Note: The prior period has been restated to conform to the current year presentation for the adoption of FSP APB 14-1, "Accounting for Convertible Debt Instruments That May Be Settled in Cash upon Conversion (Including Partial Cash Settlement)" (ASC 470) and SFAS 160, "Noncontrolling Interests in Consolidated Financial Statements--an amendment of ARB No. 51 (ASC 810)." |
Page 3
Summary Operating Data | ||||||||||||||||
(in thousands, except per share amounts) | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2009 | 2008 | 2009 | 2008 | |||||||||||||
Funds from Operations | ||||||||||||||||
Numerator: | ||||||||||||||||
Net (loss) income available to common shareholders | $ | (9,384 | ) | $ | 26,936 | $ | 63,000 | $ | 118,575 | |||||||
Depreciation and amortization | 35,646 | 34,282 | 109,446 | 114,535 | ||||||||||||
Depreciation and amortization of unconsolidated real estate joint ventures and partnerships | 4,850 | 3,137 | 13,415 | 8,698 | ||||||||||||
Gain on sale of property | (1,383 | ) | (4,470 | ) | (19,736 | ) | (53,437 | ) | ||||||||
(Gain) loss on sale of property of unconsolidated real estate joint ventures and partnerships | 2 | (4 | ) | (12 | ) | |||||||||||
Funds from Operations - Basic | 29,729 | 59,887 | 166,121 | 188,359 | ||||||||||||
Funds from operations attributable to operating partnership units | ||||||||||||||||
Funds from Operations - Diluted | $ | 29,729 | $ | 59,887 | $ | 166,121 | $ | 188,359 | ||||||||
Denominator: | ||||||||||||||||
Weighted average shares outstanding - Basic | 119,384 | 83,795 | 106,186 | 83,739 | ||||||||||||
Effect of dilutive securities: | ||||||||||||||||
Share options and awards | 521 | 559 | 549 | |||||||||||||
Operating partnership units | ||||||||||||||||
Weighted average shares outstanding - Diluted | 119,384 | 84,316 | 106,745 | 84,288 | ||||||||||||
Funds from Operations per Share - Basic | $ | 0.25 | $ | 0.71 | $ | 1.56 | $ | 2.25 | ||||||||
Funds from Operations Per Share - Diluted | $ | 0.25 | $ | 0.71 | $ | 1.56 | $ | 2.23 | ||||||||
Growth in Funds from Operations per Share - Diluted | -64.8 | % | -30.0 | % |
Note: | Due to the dilution from the common equity offering in April, the reported Funds from Operations per share for individual quarters will not sum to the year to date Funds from Operations per share. |
Dividends | |||||||||||||||||
Common Dividends per Share | $ | 0.250 | $ | 0.525 | $ | 1.025 | $ | 1.575 | |||||||||
Common Dividends Paid as a % of Funds from Operations | 100.7 | % | 73.7 | % | 63.7 | % | 70.2 | % | |||||||||
General and Administrative Expenses | |||||||||||||||||
General and Administrative Expenses/Total Revenue | 4.3 | % | 3.8 | % | 4.4 | % | 4.4 | % | |||||||||
General and Administrative Expenses/Total Assets before Depreciation | 0.10 | % | 0.10 | % | 0.33 | % | 0.33 | % | |||||||||
Net Operating Income * | |||||||||||||||||
Same Property NOI Growth: ** | |||||||||||||||||
Cash Basis | |||||||||||||||||
Retail | -4.0 | % | -1.0 | % | -4.2 | % | 0.5 | % | |||||||||
Industrial | -3.9 | % | 3.5 | % | -3.1 | % | 2.6 | % | |||||||||
Total | -4.0 | % | -0.6 | % | -4.1 | % | 0.7 | % | |||||||||
* | Includes the Company's share of unconsolidated real estate joint ventures and partnerships and excludes its partners' share of consolidated real estate joint ventures and partnerships ("Pro rata Share"). | |||||||||||||
** | Same Property NOI Growth excludes the effect of lease cancellation income and straight-line rent adjustments, but does include provisions for uncollectible amounts and related recoveries. | |||||||||||||
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 real estate joint ventures and partnerships. We calculate FFO in a manner consistent with the NAREIT definition. | ||||||||||||||
Management uses FFO as a supplemental measure to conduct and evaluate our business because there are certain limitations associated with using GAAP net income by itself as the primary measure of our operating performance. Historical cost accounting for real estate assets in accordance with GAAP implicitly assumes that the value of real estate assets diminishes predictably over time. Since real estate values instead have historically risen or fallen with market conditions, management believes that the presentation of operating results for real estate companies that uses historical cost accounting is insufficient by itself. There can be no assurance that FFO presented by us is comparable to similarly titled measures of other REITs. | ||||||||||||||
FFO should not be considered as an alternative to net income or other measurements under GAAP as an indicator of our operating performance or to cash flows from operating, investing or financing activities as a measure of liquidity. FFO does not reflect working capital changes, cash expenditures for capital improvements or principal payments on indebtedness. |
Page 4
Weingarten Realty Investors | ||||
Reconciliation of Funds from Operations for Exclusion of Non-Recurring Transactions | ||||
Per Share | ||||
Three Months Ended September 30, 2009 | ||||
Funds from Operations per Common Share - Diluted, as Reported | $ | 0.25 | ||
Gain on Redemption of Convertible Senior Unsecured Notes | (0.14 | ) | ||
Impairment Loss, net of taxes: | ||||
Impairment Loss | 0.27 | |||
Discontinued Operations | 0.02 | |||
Equity in Loss of Real Estate Joint Ventures and Partnerships | 0.06 | |||
Provision for Income Taxes: | ||||
Tax Benefit Related to Current Impairment Charges | (0.04 | ) | ||
Valuation Allowance Against Deferred Tax Asset | 0.08 | |||
Net Income Attributable to Noncontrolling Interests | (0.01 | ) | ||
Total Impairment Loss | 0.38 | |||
Write-off of Misc Notes Receivables: | ||||
Equity in Loss of Real Estate Joint Ventures and Partnerships | 0.01 | |||
Adjusted Funds from Operations per Common Share - Diluted | $ | 0.50 |
Page 5
Weingarten Realty Investors | ||||||||||||||||
Summary Operating Data (continued) | ||||||||||||||||
(in thousands) | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2009 | 2008 | 2009 | 2008 | |||||||||||||
Rentals, net | ||||||||||||||||
Base minimum rent, net | $ | 107,932 | $ | 112,939 | $ | 324,872 | $ | 335,386 | ||||||||
Straight line rent | 1,649 | 3,380 | 5,980 | 8,659 | ||||||||||||
Over/Under-market rentals, net | 622 | 947 | 2,031 | 2,605 | ||||||||||||
Percentage rent | 1,835 | 1,331 | 3,756 | 3,710 | ||||||||||||
Tenant reimbursements | 27,598 | 31,128 | 85,467 | 90,928 | ||||||||||||
Total | $ | 139,636 | $ | 149,725 | $ | 422,106 | $ | 441,288 | ||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2009 | 2008 | 2009 | 2008 | |||||||||||||
Interest Expense, net | ||||||||||||||||
Interest paid or accrued | $ | 38,850 | $ | 47,303 | $ | 125,790 | $ | 138,412 | ||||||||
Over-market mortgage adjustment | (984 | ) | (1,189 | ) | (3,089 | ) | (4,312 | ) | ||||||||
Gross interest expense | 37,866 | 46,114 | 122,701 | 134,100 | ||||||||||||
Less: | ||||||||||||||||
Capitalized interest | (1,435 | ) | (5,236 | ) | (7,454 | ) | (15,376 | ) | ||||||||
Interest expense, net | $ | 36,431 | $ | 40,878 | $ | 115,247 | $ | 118,724 | ||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2009 | 2008 | 2009 | 2008 | |||||||||||||
Fee Income from Real Estate Joint Ventures and Partnerships | ||||||||||||||||
Recurring | $ | 1,510 | $ | 1,733 | $ | 4,664 | $ | 5,173 | ||||||||
Non-Recurring | 63 | 95 | ||||||||||||||
Total | $ | 1,510 | $ | 1,733 | $ | 4,727 | $ | 5,268 | ||||||||
September 30, | December 31, | |||||||||||||||
2009 | 2008 | |||||||||||||||
Property | ||||||||||||||||
Land | $ | 932,742 | $ | 964,982 | ||||||||||||
Land held for development | 155,116 | 118,078 | ||||||||||||||
Land under development | 33,606 | 101,587 | ||||||||||||||
Buildings and improvements | 3,529,669 | 3,488,385 | ||||||||||||||
Construction in-progress | 155,528 | 242,440 | ||||||||||||||
Total | $ | 4,806,661 | $ | 4,915,472 |
Page 6
Weingarten Realty Investors | ||||||||||||||||
Financial Statements of Unconsolidated Real Estate Joint Ventures and Partnerships at 100% | ||||||||||||||||
(in thousands) | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2009 | 2008 | 2009 | 2008 | |||||||||||||
Revenues: | ||||||||||||||||
Base minimum rent, net | $ | 30,334 | $ | 28,785 | $ | 91,550 | $ | 84,652 | ||||||||
Straight line rent | 1,418 | 466 | 3,192 | 2,318 | ||||||||||||
Over/Under-market rentals, net | 1,602 | 1,166 | 4,709 | 3,771 | ||||||||||||
Percentage rent | 340 | 148 | 709 | 514 | ||||||||||||
Tenant reimbursements | 7,115 | 7,343 | 23,735 | 22,779 | ||||||||||||
Other income | 1,428 | 1,113 | 4,366 | 3,310 | ||||||||||||
Total | 42,237 | 39,021 | 128,261 | 117,344 | ||||||||||||
Expenses: | ||||||||||||||||
Depreciation and amortization | 14,204 | 10,868 | 40,702 | 30,099 | ||||||||||||
Interest, net | 7,871 | 5,491 | 22,470 | 14,808 | ||||||||||||
Operating | 8,507 | 6,218 | 23,612 | 19,146 | ||||||||||||
Ad valorem taxes, net | 5,084 | 4,480 | 15,915 | 13,834 | ||||||||||||
General and administrative | 1,581 | 809 | 4,144 | 1,786 | ||||||||||||
Impairment loss | 6,923 | 6,923 | ||||||||||||||
Total | 44,170 | 27,866 | 113,766 | 79,673 | ||||||||||||
Gain on merchant development sales | 443 | 933 | ||||||||||||||
Gain (loss) on sale of property | (3 | ) | 11 | 35 | ||||||||||||
Net (loss) income | $ | (1,933 | ) | $ | 11,595 | $ | 14,506 | $ | 38,639 | |||||||
September 30, | December 31, | |||||||||||||||
2009 | 2008 | |||||||||||||||
ASSETS | ||||||||||||||||
Property | $ | 1,970,181 | $ | 1,951,771 | ||||||||||||
Accumulated depreciation | (160,541 | ) | (129,227 | ) | ||||||||||||
Property, net | 1,809,640 | 1,822,544 | ||||||||||||||
Other assets, net | 234,844 | 256,688 | ||||||||||||||
Total | $ | 2,044,484 | $ | 2,079,232 | ||||||||||||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||||||||||
Debt, net | $ | 438,128 | $ | 472,486 | ||||||||||||
Amounts payable to Weingarten Realty Investors | 337,956 | 248,969 | ||||||||||||||
Other liabilities, net | 92,216 | 149,265 | ||||||||||||||
Total | 868,300 | 870,720 | ||||||||||||||
Accumulated equity | 1,176,184 | 1,208,512 | ||||||||||||||
Total | $ | 2,044,484 | $ | 2,079,232 |
Page 7
Financial Statements of Unconsolidated Real Estate Joint Ventures and Partnerships at Pro rata Share | ||||||||||||||||
(in thousands) | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2009 | 2008 | 2009 | 2008 | |||||||||||||
Revenues: | ||||||||||||||||
Base minimum rent, net | $ | 9,527 | $ | 8,344 | $ | 28,718 | $ | 24,330 | ||||||||
Straight line rent | 472 | 103 | 1,144 | 748 | ||||||||||||
Over/Under-market rentals, net | 323 | 246 | 957 | 761 | ||||||||||||
Percentage rent | 168 | 60 | 316 | 166 | ||||||||||||
Tenant reimbursements | 2,195 | 2,264 | 7,620 | 6,649 | ||||||||||||
Other income | 637 | 533 | 2,014 | 1,065 | ||||||||||||
Total | 13,322 | 11,550 | 40,769 | 33,719 | ||||||||||||
Expenses: | ||||||||||||||||
Depreciation and amortization | 4,850 | 3,137 | 13,415 | 8,698 | ||||||||||||
Interest, net | 2,796 | 1,581 | 7,812 | 3,936 | ||||||||||||
Operating | 2,920 | 1,802 | 7,660 | 5,373 | ||||||||||||
Ad valorem taxes, net | 1,592 | 1,381 | 5,010 | 3,951 | ||||||||||||
General and administrative | 717 | 345 | 1,872 | 676 | ||||||||||||
Impairment loss | 6,747 | 6,747 | ||||||||||||||
Total | 19,622 | 8,246 | 42,516 | 22,634 | ||||||||||||
Gain on merchant development sales | 222 | 402 | ||||||||||||||
Gain (loss) on sale of property | (2 | ) | 4 | 12 | ||||||||||||
Net (loss) income | $ | (6,300 | ) | $ | 3,524 | $ | (1,743 | ) | $ | 11,499 | ||||||
September 30, | December 31, | |||||||||||||||
2009 | 2008 | |||||||||||||||
ASSETS | ||||||||||||||||
Property | $ | 602,827 | $ | 593,923 | ||||||||||||
Accumulated depreciation | (59,085 | ) | (48,476 | ) | ||||||||||||
Property, net | 543,742 | 545,447 | ||||||||||||||
Other assets, net | 96,609 | 104,439 | ||||||||||||||
Total | $ | 640,351 | $ | 649,886 | ||||||||||||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||||||||||
Debt, net | $ | 150,824 | $ | 164,699 | ||||||||||||
Amounts payable to Weingarten Realty Investors | 159,756 | 117,150 | ||||||||||||||
Other liabilities, net | 35,370 | 63,320 | ||||||||||||||
Total | 345,950 | 345,169 | ||||||||||||||
Accumulated equity | 294,401 | 304,717 | ||||||||||||||
Total | $ | 640,351 | $ | 649,886 | ||||||||||||
Notes: | ||||||||||||||||
The Consolidated Financial Statements at pro rata share include only the real estate operations of joint ventures and partnerships at WRI's ownership percentages. Pro rata financial information is not, and is not intended to be, a presentation in accordance with generally accepted accounting principles. |
Page 8
Investments in Unconsolidated Real Estate Joint Ventures & Partnerships | ||||||||||||||||||||||||||||||||
September 30, 2009 | ||||||||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||
Weingarten Realty | ||||||||||||||||||||||||||||||||
Joint Venture Partner | Number of Properties | Total GLA | Total Assets | Total Debt | Ownership Interest | Share of Debt | Investment Balance | Equity in Earnings (Loss) of Unconsolidated JVs | ||||||||||||||||||||||||
TIAA Florida Retail LLC | 7 | 1,258 | $ | 332,987 | $ | - | 20.0 | % | $ | - | $ | 64,107 | $ | 1,647 | ||||||||||||||||||
AEW SRP, LLC | 10 | 895 | 167,642 | 104,780 | 25.0 | % | 26,195 | 13,093 | 25 | |||||||||||||||||||||||
Collins | 8 | 1,110 | 155,344 | 30,385 | 50.0 | % | 15,192 | 55,366 | 1,730 | |||||||||||||||||||||||
AEW - Institutional Client | 6 | 523 | 135,279 | 68,882 | 20.0 | % | 13,776 | 12,525 | 632 | |||||||||||||||||||||||
BIT Retail | 3 | 715 | 157,178 | - | 20.0 | % | - | 30,440 | 892 | |||||||||||||||||||||||
BIT Investment Thirty-Six, LP | 12 | 4,068 | 223,990 | 24,331 | 20.0 | % | 4,866 | 33,163 | 571 | |||||||||||||||||||||||
Eagle AN, LP | 7 | 2,050 | 51,412 | 34,475 | 20.0 | % | 6,895 | - | (107 | ) | ||||||||||||||||||||||
Other | 28 | 4,032 | 820,652 | 175,275 | 47.9 | % | 83,899 | 102,658 | (2,607 | ) | ||||||||||||||||||||||
Total | 81 | 14,652 | $ | 2,044,484 | $ | 438,128 | 28.6 | % | $ | 150,824 | $ | 311,353 | $ | 2,783 | ||||||||||||||||||
Joint Venture Description | ||||||||||||||||||||||||||||||||
RETAIL | ||||||||||||||||||||||||||||||||
TIAA Florida Retail LLC | Joint venture with an institutional partner, TIAA-CREF Global Real Estate. | |||||||||||||||||||||||||||||||
AEW SRP, LLC | Retail joint venture with an institutional partner through AEW Capital Management | |||||||||||||||||||||||||||||||
Collins | Primarily a development joint venture in the Texas Rio Grande valley | |||||||||||||||||||||||||||||||
AEW - Institutional Client | Joint venture with an institutional partner through AEW Capital Management | |||||||||||||||||||||||||||||||
BIT Retail | Retail joint venture with Mercantile Real Estate Advisors and its client, the AFL-CIO Building Investment Trust | |||||||||||||||||||||||||||||||
INDUSTRIAL | ||||||||||||||||||||||||||||||||
BIT Investment Thirty-Six, LP | Industrial joint venture with Mercantile Real Estate Advisors and its client, the AFL-CIO Building Investment Trust | |||||||||||||||||||||||||||||||
Eagle AN, LP | Industrial joint venture with American National Insurance Company |
Page 9
Mortgage Debt Information for Unconsolidated Joint Ventures & Partnerships | ||||||||||||||||
September 30, 2009 | ||||||||||||||||
(In Thousands) | ||||||||||||||||
Joint Venture Partner | # of Mortgaged Properties | Mortgage Balance | Average Interest Rate (1) | Average Remaining Term (yrs) | ||||||||||||
TIAA Florida Retail LLC | - | $ | - | - | - | |||||||||||
AEW SRP, LLC | 7 | 104,780 | 5.7 | % | 6.3 | |||||||||||
Collins | 2 | 30,385 | 6.2 | % | 11.9 | |||||||||||
AEW - Institutional Client | 6 | 68,882 | 5.7 | % | 4.4 | |||||||||||
BIT Retail | - | - | - | - | ||||||||||||
BIT Investment Thirty-Six, LP | 4 | 24,331 | 6.4 | % | 2.1 | |||||||||||
Eagle AN, LP | 1 | 34,475 | 8.1 | % | 0.9 | |||||||||||
Other | 7 | 99,561 | 5.6 | % | 7.7 | |||||||||||
Total | 27 | $ | 362,414 | 6.0 | % | 5.8 | ||||||||||
Schedule of Maturities | ||||||||||||||||
At 100% | At WRI Share | |||||||||||||||
Maturities | Average Interest Rate | Maturities | Average Interest Rate | |||||||||||||
2009 | $ | 1,591 | 6.0 | % | $ | 436 | 6.0 | % | ||||||||
2010 (1) | 47,553 | 5.8 | % | 11,131 | 5.8 | % | ||||||||||
2011 | 17,515 | 5.8 | % | 8,085 | 5.7 | % | ||||||||||
2012 | 19,281 | 5.7 | % | 4,483 | 5.7 | % | ||||||||||
2013 | 47,920 | 5.7 | % | 16,725 | 5.7 | % | ||||||||||
2014 | 50,747 | 5.6 | % | 11,867 | 5.7 | % | ||||||||||
2015 | 36,979 | 5.7 | % | 8,356 | 5.7 | % | ||||||||||
2016 | 69,660 | 5.6 | % | 18,796 | 5.7 | % | ||||||||||
2017 | 46,375 | 5.7 | % | 20,633 | 5.7 | % | ||||||||||
Thereafter | 24,793 | 5.0 | % | 12,459 | 5.0 | % | ||||||||||
Total | $ | 362,414 | 6.0 | % | $ | 112,971 | 5.6 | % | ||||||||
(1) All mortgages are fixed rate except for one of the "other" which has a variable rate mortgage ($3.4 million), maturing in 2010 |
Page 10
Weingarten Realty Investors | ||||||||||||||||
Supplemental Analyst Information | ||||||||||||||||
(in thousands) | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2009 | 2008 | 2009 | 2008 | |||||||||||||
Net Operating Income including Joint Ventures | ||||||||||||||||
Revenues | $ | 144,544 | $ | 153,967 | $ | 434,427 | $ | 451,598 | ||||||||
Operating expense | (25,733 | ) | (26,045 | ) | (76,014 | ) | (77,151 | ) | ||||||||
Ad valorem taxes | (18,275 | ) | (19,967 | ) | (55,012 | ) | (54,620 | ) | ||||||||
Total | 100,536 | 107,955 | 303,401 | 319,827 | ||||||||||||
Net Operating Income from Discontinued Operations | 1,874 | 3,384 | 7,221 | 13,618 | ||||||||||||
Pro rata Share of Unconsolidated Joint Ventures: | ||||||||||||||||
Revenues | 13,322 | 11,550 | 40,769 | 33,719 | ||||||||||||
Operating expense | (2,920 | ) | (1,802 | ) | (7,660 | ) | (5,373 | ) | ||||||||
Ad valorem taxes | (1,592 | ) | (1,381 | ) | (5,010 | ) | (3,951 | ) | ||||||||
Total | 8,810 | 8,367 | 28,099 | 24,395 | ||||||||||||
Minority Interests Share of Net Operating Income and Other Adjustments | (6,628 | ) | (5,404 | ) | (17,644 | ) | (11,096 | ) | ||||||||
Net Operating Income including Joint Ventures | $ | 104,592 | $ | 114,302 | $ | 321,077 | $ | 346,744 | ||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2009 | 2008 | 2009 | 2008 | |||||||||||||
Equity in (Loss) Earnings of Real Estate Joint Ventures and Partnerships, net | ||||||||||||||||
Net (loss) income from unconsolidated real estate joint ventures and partnerships | $ | (6,300 | ) | $ | 3,524 | $ | (1,743 | ) | $ | 11,499 | ||||||
Intercompany fee income reclass | 1,619 | 1,508 | 4,584 | 3,994 | ||||||||||||
Other adjustments | (82 | ) | 119 | (58 | ) | 44 | ||||||||||
Equity in (loss) earnings of real estate joint ventures and partnerships, net | $ | (4,763 | ) | $ | 5,151 | $ | 2,783 | $ | 15,537 |
Page 11
Weingarten Realty Investors | ||||||||
Summary Balance Sheet Information | ||||||||
(in thousands, except common share data and percentages) | ||||||||
September 30, | December 31, | |||||||
2009 | 2008 | |||||||
Common Share Data | ||||||||
Closing Market Price | $ | 19.92 | $ | 20.69 | ||||
Dividend Yield | 5.02 | % | 10.15 | % | ||||
90-Day, Average Daily Trading Volume | 1,849,118 | 2,372,033 | ||||||
Capitalization (As reported) | ||||||||
Debt | $ | 2,724,888 | $ | 3,148,636 | ||||
Preferred Shares | 497,500 | 497,500 | ||||||
Common Shares at Market | 2,386,217 | 1,802,140 | ||||||
Operating Partnership Units at Market | 39,800 | 45,559 | ||||||
Total Market Capitalization | $ | 5,648,405 | $ | 5,493,835 | ||||
Debt to Total Market Capitalization | 48.2 | % | 57.3 | % | ||||
Capitalization (Pro rata) | ||||||||
Debt | $ | 2,667,710 | $ | 3,108,982 | ||||
Preferred Shares | 497,500 | 497,500 | ||||||
Common Shares at Market | 2,386,217 | 1,802,140 | ||||||
Operating Partnership Units at Market | 39,800 | 45,559 | ||||||
Total Market Capitalization | $ | 5,591,227 | $ | 5,454,181 | ||||
Debt to Total Market Capitalization | 47.7 | % | 57.0 | % | ||||
Capital Availability | ||||||||
Total Revolver Capacity | $ | 575,000 | $ | 575,000 | ||||
Revolver Balance Outstanding | 190,000 | 383,000 | ||||||
Outstanding Letters of Credit under Revolver | 10,007 | 10,057 | ||||||
Unused Portion of $575 MM Revolver | $ | 374,993 | $ | 181,943 | ||||
Credit Ratings | S&P | Moody's | ||||||
Senior Debt | BBB | Baa2 | ||||||
Preferred Shares | BB+ | Baa3 |
Page 12
Weingarten Realty Investors | |||||||||||||||||
Debt Information | |||||||||||||||||
(in thousands, except percentages) | |||||||||||||||||
3rd Quarter | 4th Quarter | ||||||||||||||||
September 30, | Weighted | December 31, | Weighted | ||||||||||||||
2009 | Average Rate (1) | 2008 | Average Rate (1) | ||||||||||||||
Outstanding Balance Summary | |||||||||||||||||
Mortgage Debt | $ | 1,191,340 | 6.41 | % | $ | 1,003,709 | 6.37 | % | |||||||||
7% 2011 Bonds | 117,670 | 7.00 | % | 200,000 | 7.00 | % | |||||||||||
3.95% Convertible Bonds (2) | 131,060 | 3.95 | % | 514,298 | 3.95 | % | |||||||||||
8.1% 2019 Notes | 100,000 | 8.10 | % | ||||||||||||||
Unsecured Notes Payable | 961,962 | 5.70 | % | 1,014,567 | 5.77 | % | |||||||||||
Revolving Credit Agreements (3) | 190,000 | 1.35 | % | 383,000 | 2.55 | % | |||||||||||
Industrial Revenue Bonds | 3,131 | 2.92 | % | 3,337 | 3.44 | % | |||||||||||
Obligations under Capital Leases | 29,725 | 5.29 | % | 29,725 | 5.98 | % | |||||||||||
Total Debt - As Reported | 2,724,888 | 5.48 | % | 3,148,636 | 5.31 | % | |||||||||||
Less: Noncontrolling Interest | (208,002 | ) | (204,353 | ) | |||||||||||||
Plus: WRI Share of Unconsolidated Joint Ventures | 150,824 | 164,699 | |||||||||||||||
Total Debt - Pro rata Share | $ | 2,667,710 | 5.48 | % | $ | 3,108,982 | 5.31 | % | |||||||||
September 30, | December 31, | ||||||||||||||||
2009 | % of Total | 2008 | % of Total | ||||||||||||||
Fixed vs. Variable Rate Debt (at Pro rata Share) | |||||||||||||||||
(includes the effect of interest rate swaps) | |||||||||||||||||
Fixed-rate debt | $ | 2,408,086 | 90.3 | % | $ | 2,659,268 | 85.5 | % | |||||||||
Variable-rate debt | 259,624 | 9.7 | % | 449,714 | 14.5 | % | |||||||||||
Total | $ | 2,667,710 | 100.0 | % | $ | 3,108,982 | 100.0 | % | |||||||||
Secured vs. Unsecured Debt (at Pro rata Share) | |||||||||||||||||
Secured Debt | $ | 1,125,954 | 42.2 | % | $ | 992,491 | 31.9 | % | |||||||||
Unsecured Debt | 1,541,756 | 57.8 | % | 2,116,491 | 68.1 | % | |||||||||||
Total | $ | 2,667,710 | 100.0 | % | $ | 3,108,982 | 100.0 | % | |||||||||
Coverage Ratios (at Pro rata Share trailing 4 quarters) | |||||||||||||||||
Fixed Charge Coverage | 2.06 | x | 1.99 | x | |||||||||||||
Interest Coverage | 2.47 | x | 2.37 | x | |||||||||||||
Debt Service Coverage | 2.36 | x | 2.31 | x | |||||||||||||
As | Pro rata | ||||||||||||||||
Reported | Share | ||||||||||||||||
Weighted Average Interest Rates (1) | |||||||||||||||||
Nine months ended 09/30/09 | 5.39 | % | 5.41 | % | |||||||||||||
Three months ended 09/30/09 | 5.48 | % | 5.48 | % | |||||||||||||
Twelve months ended 12/31/08 | 5.54 | % | 5.53 | % | |||||||||||||
(1) | Weighted average interest rates exclude the effects of FAS 141, discounts on convertible bonds, and loan costs related to financing. | ||||||||||||||||
(2) | The convertible bonds, with a face value of $135.2 million, mature August 1, 2026 with a five year option to redeem anytime after August 2011 and an initial conversion price of $49.075 per share. | ||||||||||||||||
(3) | Weighted average revolving interest rate excluding the effect of the commitment fee was 0.89% in third quarter 2009 and 2.34% in fourth quarter 2008. |
Page 13
Weingarten Realty Investors | ||||||||||||||||||||||||
Debt Information | ||||||||||||||||||||||||
(in thousands, except percentages) | ||||||||||||||||||||||||
Schedule of Maturities at September 30, 2009 | ||||||||||||||||||||||||
As Reported | Pro rata Share | |||||||||||||||||||||||
Maturities | Rate (6) | Maturities | Rate (6) | Floating Rate | Fixed Rate | |||||||||||||||||||
2009 (1) | $ | 13,986 | 5.45 | % | $ | 14,300 | 5.51 | % | $ | 9,191 | $ | 5,109 | ||||||||||||
2010 (2) | 115,934 | 6.42 | % | 126,780 | 6.48 | % | 2,429 | 124,351 | ||||||||||||||||
2011 (3) | 219,832 | 6.76 | % | 226,555 | 6.78 | % | 488 | 226,067 | ||||||||||||||||
2012 | 342,592 | 5.68 | % | 344,382 | 5.72 | % | 3,559 | 340,823 | ||||||||||||||||
2013 | 417,797 | 6.03 | % | 311,017 | 5.87 | % | 841 | 310,176 | ||||||||||||||||
2014 | 384,475 | 5.46 | % | 395,642 | 5.49 | % | 3,102 | 392,540 | ||||||||||||||||
2015 | 253,992 | 6.40 | % | 217,510 | 6.03 | % | 1,124 | 216,386 | ||||||||||||||||
2016 | 215,850 | 6.62 | % | 234,937 | 6.28 | % | 1,296 | 233,641 | ||||||||||||||||
2017 | 119,005 | 6.98 | % | 140,023 | 6.44 | % | 1,456 | 138,567 | ||||||||||||||||
2018 | 55,040 | 7.57 | % | 15,118 | 5.78 | % | 1,553 | 13,565 | ||||||||||||||||
Thereafter (3) | 357,932 | 6.49 | % | 396,160 | 5.30 | % | 29,239 | 366,921 | ||||||||||||||||
Subtotal | 2,496,435 | 2,422,424 | 54,278 | 2,368,146 | ||||||||||||||||||||
Revolvers (4) | 190,000 | 1.40 | % | 190,000 | 1.40 | % | 190,000 | |||||||||||||||||
Other (5) | 38,453 | 55,286 | (34,654 | ) | 89,940 | |||||||||||||||||||
Swap Maturities: | ||||||||||||||||||||||||
2014 | 50,000 | (50,000 | ) | |||||||||||||||||||||
Total | $ | 2,724,888 | 5.39 | % | $ | 2,667,710 | 5.41 | % | $ | 259,624 | $ | 2,408,086 | ||||||||||||
(1) Includes $2.3 million of amortizing industrial revenue bonds with a final maturity date of 2015 that are currently callable by the lender. | ||||||||||||||||||||||||
(2) Includes $9.7 million of MTN's maturing 2028 with 12 and 20 year put options. | ||||||||||||||||||||||||
(3) Thereafter includes $135.2 million of Convertible debt maturing in 2026 which has a 5 year call and put option in 2011. | ||||||||||||||||||||||||
(4) Includes the effect of the commitment fee. | ||||||||||||||||||||||||
(5) Other includes capital leases, FAS 141 adjustment, fair value of swaps and discounts on notes. Our pro rata share calculation also includes bonds issued in association with a guarantee in connection with a project in Denver, Colorado. | ||||||||||||||||||||||||
(6) Weighted average interest rates exclude the effects of FAS 141, discounts on convertible bonds, and loan costs related to financing. |
Page 14
Tenant Diversification by Percent of Rental Revenues at Pro rata Share | ||||||||||||||||
(in thousands, except percentages and # of units) | ||||||||||||||||
% of | ||||||||||||||||
Pro rata | ||||||||||||||||
# of Units | Rental | Square | ||||||||||||||
Rank | Tenant Name | DBA’s | Revenue | Feet | ||||||||||||
1 | THE KROGER CO. | Kroger, Smith Food, Ralphs, Fry's Food, King Soopers | 27 | 1.94 | % | 1,256 | ||||||||||
2 | ROSS STORES, INC. | Ross Dress for Less | 36 | 1.68 | % | 777 | ||||||||||
3 | T.J.X. COMPANIES, INC. | T.J. Maxx, Marshalls, Home Goods | 33 | 1.64 | % | 803 | ||||||||||
4 | HOME DEPOT, INC. | 7 | 1.26 | % | 806 | |||||||||||
5 | PUBLIX SUPER MARKETS, INC. | 23 | 1.18 | % | 730 | |||||||||||
6 | SAFEWAY, INC. | Safeway, Randalls, Von's | 18 | 1.14 | % | 765 | ||||||||||
7 | OFFICE DEPOT, INC. | 26 | 1.11 | % | 525 | |||||||||||
8 | PETSMART, INC. | 20 | 1.02 | % | 364 | |||||||||||
9 | BARNES & NOBLE INC. | Barnes & Noble, Bookstop Booksellers | 12 | 0.91 | % | 267 | ||||||||||
10 | GAP, INC. | Gap, Old Navy, Banana Republic | 19 | 0.89 | % | 297 | ||||||||||
11 | BLOCKBUSTER VIDEO | 47 | 0.83 | % | 216 | |||||||||||
12 | PETCO ANIMAL SUPPLIES, INC. | 22 | 0.75 | % | 251 | |||||||||||
13 | STAPLES | 14 | 0.73 | % | 303 | |||||||||||
14 | 24 HOUR FITNESS INC. | 7 | 0.70 | % | 179 | |||||||||||
15 | BED BATH & BEYOND, INC. | 18 | 0.66 | % | 347 | |||||||||||
16 | WHOLE FOODS | 6 | 0.66 | % | 218 | |||||||||||
17 | H E BUTT GROCERY | 6 | 0.64 | % | 291 | |||||||||||
18 | OFFICE MAX INC. | 11 | 0.63 | % | 250 | |||||||||||
19 | HARRIS TEETER | 7 | 0.62 | % | 287 | |||||||||||
20 | DOLLAR TREE STORES, INC. | Dollar Tree, Greenbacks | 30 | 0.61 | % | 287 | ||||||||||
21 | THE SPORTS AUTHORITY | 6 | 0.60 | % | 222 | |||||||||||
22 | RALEY'S | Raley's Bel Air Markets | 6 | 0.58 | % | 331 | ||||||||||
23 | TOYS 'R' US | 9 | 0.58 | % | 312 | |||||||||||
24 | BEST BUY, INC. | 10 | 0.58 | % | 225 | |||||||||||
25 | FOOD LION | 9 | 0.49 | % | 335 | |||||||||||
Total | 429 | 22.43 | % | 10,643 |
Page 15
Leasing Information | ||||||||||||||||||||||||||
(in thousands, except percentages and # of units and leases, pro rata share) | ||||||||||||||||||||||||||
Lease Expirations | ||||||||||||||||||||||||||
Shopping Center | Industrial | Total | ||||||||||||||||||||||||
Percentage of | Percentage of | Percentage of | ||||||||||||||||||||||||
Pro rata | Pro rata | Pro rata | ||||||||||||||||||||||||
Year Expiring | Sq. Ft. | Revenue | Sq. Ft. | Revenue | Sq. Ft. | Revenue | ||||||||||||||||||||
2009 | 0.95 | % | 1.19 | % | 4.71 | % | 4.22 | % | 1.89 | % | 1.54 | % | ||||||||||||||
2010 | 12.00 | % | 13.07 | % | 19.92 | % | 20.47 | % | 14.00 | % | 13.91 | % | ||||||||||||||
2011 | 14.88 | % | 15.42 | % | 13.14 | % | 14.88 | % | 14.44 | % | 15.36 | % | ||||||||||||||
2012 | 12.79 | % | 13.90 | % | 15.50 | % | 16.56 | % | 13.47 | % | 14.21 | % | ||||||||||||||
2013 | 13.06 | % | 13.25 | % | 17.05 | % | 16.75 | % | 14.06 | % | 13.65 | % | ||||||||||||||
2014-2018 | 30.63 | % | 29.27 | % | 27.81 | % | 24.88 | % | 29.92 | % | 28.78 | % | ||||||||||||||
2019-2028 | 14.93 | % | 13.13 | % | 1.87 | % | 2.24 | % | 11.64 | % | 11.89 | % | ||||||||||||||
Commenced Leases - New Lease and Renewals | ||||||||||||||||||||||||||
Number | GAAP Increase | Cash Increase | ||||||||||||||||||||||||
of Leases | Square Feet | in Base Rent | in Base Rent | |||||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||||||||
September 30, 2009 | ||||||||||||||||||||||||||
Retail | 285 | 862 | 3.5 | % | 1.7 | % | ||||||||||||||||||||
Industrial | 42 | 535 | 5.9 | % | 2.8 | % | ||||||||||||||||||||
Total | 327 | 1,397 | 3.8 | % | 1.8 | % | ||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||||||||
September 30, 2008 | ||||||||||||||||||||||||||
Retail | 255 | 799 | 16.1 | % | 11.0 | % | ||||||||||||||||||||
Industrial | 51 | 723 | 5.3 | % | 6.5 | % | ||||||||||||||||||||
Total | 306 | 1,522 | 13.9 | % | 9.9 | % | ||||||||||||||||||||
Nine Months Ended | ||||||||||||||||||||||||||
September 30, 2009 | ||||||||||||||||||||||||||
Retail | 808 | 2,601 | 8.2 | % | 4.3 | % | ||||||||||||||||||||
Industrial | 119 | 1,638 | 7.8 | % | 5.0 | % | ||||||||||||||||||||
Total | 927 | 4,239 | 8.1 | % | 4.4 | % | ||||||||||||||||||||
Nine Months Ended | ||||||||||||||||||||||||||
September 30, 2008 | ||||||||||||||||||||||||||
Retail | 773 | 2,901 | 16.9 | % | 12.6 | % | ||||||||||||||||||||
Industrial | 140 | 1,902 | 8.8 | % | 7.2 | % | ||||||||||||||||||||
Total | 913 | 4,803 | 15.5 | % | 11.6 | % | ||||||||||||||||||||
Note: Increase in base rent percent reflects the effect of straight line rent. | ||||||||||||||||||||||||||
Average Minimum Rent per Square Foot | ||||||||||||||||||||||||||
Quarter Ended | ||||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | September 30, | ||||||||||||||||||||||
2009 | 2009 | 2009 | 2008 | 2008 | ||||||||||||||||||||||
Retail | $ | 13.33 | $ | 13.28 | $ | 13.24 | $ | 13.16 | $ | 13.05 | ||||||||||||||||
Industrial | $ | 5.09 | $ | 5.04 | $ | 5.00 | $ | 4.98 | $ | 4.92 | ||||||||||||||||
Occupancy | Quarter Ended | |||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | September 30, | ||||||||||||||||||||||
2009 | 2009 | 2009 | 2008 | 2008 | ||||||||||||||||||||||
Shopping Center Portfolio | 92.1 | % | 92.1 | % | 91.7 | % | 93.0 | % | 94.5 | % | ||||||||||||||||
Industrial Portfolio | 88.0 | % | 87.7 | % | 90.9 | % | 91.6 | % | 91.4 | % | ||||||||||||||||
Total Portfolio | 91.1 | % | 90.9 | % | 91.5 | % | 92.6 | % | 93.7 | % | ||||||||||||||||
Note: A space is considered occupied upon execution of a lease agreement. |
Page 16
Weingarten Realty Investors | ||||||||||||||||||||||||||||||||
Property Information | ||||||||||||||||||||||||||||||||
(in thousands at pro rata share) | ||||||||||||||||||||||||||||||||
Property Investment Summary | ||||||||||||||||||||||||||||||||
Acquisitions | New Development | Major Repairs | Tenant Finish | Remodels/ Existing Development (1) | Leasing/ Broker Fees | All Other | Total | |||||||||||||||||||||||||
Nine Months Ended 9/30/2009 | $ | 0 | $ | 63,344 | $ | 6,006 | $ | 12,964 | $ | 15,060 | $ | 15,407 | $ | 7,565 | $ | 120,346 | ||||||||||||||||
Year Ended 12/31/2008 | 2,685 | 193,235 | 20,570 | 35,290 | 37,781 | (2) | 24,002 | 8,231 | 321,793 | |||||||||||||||||||||||
Year Ended 12/31/2007 | 565,427 | 218,239 | 18,236 | 29,928 | 20,751 | 21,345 | 13,356 | 887,282 | ||||||||||||||||||||||||
Year Ended 12/31/2006 | 602,987 | 166,999 | 14,338 | 27,233 | 2,724 | 20,820 | 2,799 | 837,901 | ||||||||||||||||||||||||
(1) Primarily incremental investment on properties formerly classified as new development | ||||||||||||||||||||||||||||||||
(2) Includes approximately $12 million for costs incurred in 2008 for new development properties moved to land held of development |
Page 17
New Development Properties (By Stabilization) | |||||||||||||||||||||||||||||||||||||||||||||||
(in thousands at pro rata share, except percentages) | |||||||||||||||||||||||||||||||||||||||||||||||
3Q 2009 | |||||||||||||||||||||||||||||||||||||||||||||||
Total Square | Total | Est. | |||||||||||||||||||||||||||||||||||||||||||||
Feet of | Percent Leased | Spent | Spent | Estimated | Final | ||||||||||||||||||||||||||||||||||||||||||
WRI | Building | Net | Year- | Inception | Investment (2) | ROI | Completions (4) | ||||||||||||||||||||||||||||||||||||||||
Own | Area (1) | @ | To- | to | WRI | Gross | % | YTD | Since | ||||||||||||||||||||||||||||||||||||||
Center Name | Location | Anchors | % | Gross | Net | 100% | Gross | Date | Date | Costs | Costs | (3) | 2009 | Inception | |||||||||||||||||||||||||||||||||
1 | Horne Street Market | Ft. Worth, Texas | 24 Hour Fitness | 100.0 | % | 47 | 42 | 100.0 | % | 89.4 | % | $ | 3,175 | $ | 12,208 | $ | 10,804 | $ | 10,804 | 8.6 | % | $ | 10,804 | $ | 10,804 | ||||||||||||||||||||||
Stabilized 2Q 2009 | |||||||||||||||||||||||||||||||||||||||||||||||
1 | Market at Nolana* | McAllen, Texas | Wal-Mart # | 50.0 | % | 241 | 21 | 56.6 | % | 92.6 | % | 12 | 4,080 | 4,654 | 9,308 | 2,189 | 4,654 | ||||||||||||||||||||||||||||||
2 | Jess Ranch Marketplace Phase II* | Apple Valley (Los Angeles),California | Winco #, Petsmart | 50.0 | % | 308 | 107 | 90.5 | % | 93.4 | % | 83 | 17,277 | 18,447 | 36,894 | 1,785 | 18,447 | ||||||||||||||||||||||||||||||
3 | Market at Sharyland Place* | Mission, Texas | Wal-Mart #, Kohl's | 50.0 | % | 311 | 56 | 93.7 | % | 97.8 | % | 65 | 2,519 | 2,868 | 5,737 | 540 | 2,868 | ||||||||||||||||||||||||||||||
4 | Phillips Crossing | Orlando, Florida | Golf Galaxy, Whole Foods, Michael's | 100.0 | % | 146 | 146 | 87.4 | % | 87.4 | % | 2,707 | 28,759 | 27,405 | 27,405 | 7,842 | 27,405 | ||||||||||||||||||||||||||||||
5 | Phillips Village | Orlando, Florida | Wal-Mart # | 100.0 | % | 286 | 66 | 57.6 | % | 90.2 | % | -53 | 13,550 | 14,432 | 14,432 | 6,292 | 14,432 | ||||||||||||||||||||||||||||||
6 | Gateway Station | Ft. Worth, Texas | Kohl's #, Best Buy #, Michaels #, Ross #, Conn's | 70.0 | % | 498 | 48 | 56.9 | % | 94.1 | % | 290 | 7,497 | 7,758 | 11,083 | 5,268 | 7,758 | ||||||||||||||||||||||||||||||
7 | Epic Village Phase I - St. Augustine | St. Augustine, Florida | Epic Theatre # | 70.0 | % | 69 | 9 | 80.1 | % | 89.2 | % | 1,691 | 3,295 | 3,713 | 5,305 | 3,713 | 3,713 | ||||||||||||||||||||||||||||||
Properties Stabilized in 3Q 2009 | 1,860 | 453 | 81.2 | % | 93.1 | % | $ | 4,795 | $ | 76,977 | $ | 79,277 | $ | 110,163 | 7.0 | % | $ | 27,629 | $ | 79,277 | |||||||||||||||||||||||||||
Total 2009 Stabilized Properties | 1,907 | 495 | 82.4 | % | 93.0 | % | $ | 7,970 | $ | 89,185 | $ | 90,081 | $ | 120,967 | $ | 38,433 | $ | 90,081 | |||||||||||||||||||||||||||||
1 | Clermont Landing* | Clermont, Florida | JC Penney #, Epic Theater #, TJ Maxx, Ross | 55.0 | % | 368 | 104 | 67.2 | % | 81.4 | % | 3,713 | 18,362 | 20,094 | 36,534 | 12,559 | 12,559 | ||||||||||||||||||||||||||||||
2 | ClayPoint Distribution Park (Industrial) | Houston, Texas | Pioneer, Packaging Corp. of America | 100.0 | % | 359 | 158 | 64.1 | % | 84.2 | % | -8,139 | 4,484 | 8,447 | 8,447 | 5,680 | 7,088 | ||||||||||||||||||||||||||||||
3 | The Shoppes at Parkwood Ranch | Mesa (Phoenix),Arizona | Hobby Lobby, Dollar Tree | 100.0 | % | 107 | 93 | 89.1 | % | 90.5 | % | 4,240 | 14,049 | 15,268 | 15,268 | 4,407 | 12,058 | ||||||||||||||||||||||||||||||
4 | Ridgeway Trace Center Phase 1 | Memphis, Tennessee | Target #, Sports Authority, Best Buy | 100.0 | % | 228 | 90 | 100.0 | % | 100.0 | % | 2,762 | 13,598 | 23,583 | 23,583 | 0 | 0 | ||||||||||||||||||||||||||||||
5 | Jess Ranch Marketplace Phase III* | Apple Valley (Los Angeles),California | Cinemark, Best Buy, Bed Bath, 24 Hour Fitness | 50.0 | % | 185 | 92 | 86.5 | % | 86.5 | % | 3,960 | 21,263 | 23,363 | 46,726 | 12,659 | 19,259 | ||||||||||||||||||||||||||||||
Total 2010 Stabilizations | 1,247 | 538 | 78.5 | % | 87.1 | % | $ | 6,535 | $ | 71,757 | $ | 90,755 | $ | 130,559 | $ | 35,305 | $ | 50,964 | |||||||||||||||||||||||||||||
1 | Gardens on Havana* | Aurora (Denver),Colorado | Kohl's, Target, Dick's Sporting Goods, Sprouts | 39.8 | % | 427 | 170 | 82.4 | % | 82.4 | % | 5,835 | 21,819 | 17,570 | 44,158 | 7,070 | 12,226 | ||||||||||||||||||||||||||||||
2 | Mohave Crossroads | Bullhead City, Arizona | Target #, Kohl's #, Marshall's, Bed Bath, Staples | 100.0 | % | 385 | 183 | 79.6 | % | 90.3 | % | 2,494 | 40,424 | 40,554 | 40,554 | 9,937 | 31,729 | ||||||||||||||||||||||||||||||
3 | Surf City Crossing | Surf City (Wilmington),North Carolina | Harris Teeter | 75.0 | % | 75 | 47 | 77.3 | % | 70.8 | % | 349 | 3,704 | 5,506 | 7,341 | 0 | 0 | ||||||||||||||||||||||||||||||
4 | Waterford | Leland (Wilmington),North Carolina | Harris Teeter | 75.0 | % | 95 | 67 | 79.3 | % | 80.4 | % | 1,484 | 13,031 | 11,073 | 14,764 | 503 | 11,473 | ||||||||||||||||||||||||||||||
Total 2011 Stabilizations | 982 | 468 | 81.0 | % | 84.4 | % | $ | 10,162 | $ | 78,978 | $ | 74,703 | $ | 106,816 | $ | 17,510 | $ | 55,428 | |||||||||||||||||||||||||||||
1 | Ridgeway Trace Center Phase 2 | Memphis, Tennessee | Target #, Sports Authority, Best Buy | 100.0 | % | 39 | 39 | 0.0 | % | 0.0 | % | 486 | 2,529 | 7,487 | 7,487 | 0 | 0 | ||||||||||||||||||||||||||||||
2 | Tomball Marketplace | Tomball, Texas | Academy# | 100.0 | % | 147 | 62 | 25.0 | % | 68.4 | % | 2,588 | 13,132 | 14,963 | 14,963 | 2,303 | 2,303 | ||||||||||||||||||||||||||||||
3 | Westwood Center | San Antonio, Texas | Wal-Mart # | 100.0 | % | 305 | 70 | 8.1 | % | 74.2 | % | 407 | 15,620 | 14,587 | 14,587 | 198 | 783 | ||||||||||||||||||||||||||||||
4 | North Towne Plaza | Brownsville, Texas | Lowes# | 75.0 | % | 153 | 27 | 0.0 | % | 76.5 | % | 1,708 | 2,964 | 4,891 | 6,522 | 0 | 0 | ||||||||||||||||||||||||||||||
5 | Riverpoint at Sheridan* | Sheridan (Denver),Colorado | Costco #, Target #, Regal Cinema | 50.0 | % | 496 | 83 | 59.6 | % | 86.5 | % | 33,489 | 56,569 | 34,467 | 68,934 | 12,880 | 14,482 | ||||||||||||||||||||||||||||||
Total 2012 Stabilizations | 1,140 | 281 | 32.2 | % | 76.6 | % | $ | 38,678 | $ | 90,814 | $ | 76,395 | $ | 112,492 | $ | 15,381 | $ | 17,568 | |||||||||||||||||||||||||||||
Total 13 Properties Under Development (exclusive of phasing) | 3,368 | 1,286 | 70.2 | % | 82.8 | % | $ | 55,375 | $ | 241,548 | $ | 241,853 | $ | 349,868 | 7.3 | % | $ | 68,196 | $ | 123,960 | |||||||||||||||||||||||||||
* Unconsolidated Joint Venture |
# Denotes anchors that are not owned by Weingarten |
(1) Total Building Area (Gross) square footage reflects 100% ownership including square feet owned by other. WRI's share of building area (Net) square footage reflects WRI's ownership percentage excluding square feet owned by other and excluding other possible future building area |
(2) Net of anticipated proceeds from land sales and tax incentive financing. |
(3) For properties stabilized in 3Q 2009, the ROI% is based on annualized net operating income for existing leases in place today. For properties stabilized prior to our traditional definition of 90% to 95% net leased, additional upside yield will be realized as these properties are lease-up. |
(4) WRI's portion of estimated final investment dollars brought on-line based on the percentage of commenced leases |
Note: Phased properties are counted as one property |
Page 18
New Development Property List & Estimated Final Investment Roll-Forward | |||||||||||||||||||
(in thousands at pro rata share) | |||||||||||||||||||
3Q 2009 | |||||||||||||||||||
# of | Total Estimated Investment | ||||||||||||||||||
Properties | WRI Costs | Gross Costs | |||||||||||||||||
Properties Currently Under Development | |||||||||||||||||||
At 6/30/2009 | 24 | $ | 448,773 | $ | 624,672 | ||||||||||||||
Stabilized Properties During 3Q 2009 | |||||||||||||||||||
Market at Nolana | (3,920 | ) | (7,840 | ) | |||||||||||||||
Jess Ranch Marketplace Phase II | (19,286 | ) | (38,572 | ) | |||||||||||||||
Market at Sharyland Place | (3,047 | ) | (6,094 | ) | |||||||||||||||
Phillips Crossing | (27,624 | ) | (27,624 | ) | |||||||||||||||
Phillips Village | (15,210 | ) | (15,210 | ) | |||||||||||||||
Gateway Station | (11,171 | ) | (15,958 | ) | |||||||||||||||
Epic Village Phase I - St. Augustine | (2,002 | ) | (2,860 | ) | |||||||||||||||
(7 | ) | (82,260 | ) | (114,158 | ) | ||||||||||||||
Estimated Final Investment Associated with Land Held For Development | |||||||||||||||||||
Epic Village Phase I - St. Augustine | (2,139 | ) | (3,056 | ) | |||||||||||||||
Market at Nolana | (653 | ) | (1,305 | ) | |||||||||||||||
Palm Coast Landing Phase II * | - | - | (1) | ||||||||||||||||
Ridgeway Trace | (23,829 | ) | (23,829 | ) | |||||||||||||||
Surf City | (1,036 | ) | (1,382 | ) | |||||||||||||||
The Shoppes at Wilderness Oaks * | (8,818 | ) | (8,818 | ) | |||||||||||||||
Tomball Marketplace | (30,960 | ) | (30,960 | ) | |||||||||||||||
Waterford | - | - | (1) | ||||||||||||||||
Westover Square * | - | - | (1) | ||||||||||||||||
300 West Town Center * | (6,904 | ) | (21,700 | ) | |||||||||||||||
Gardens of Havana Phase II | (5,916 | ) | (14,868 | ) | |||||||||||||||
Mohave Crossroads Phase II | (8,146 | ) | (8,146 | ) | |||||||||||||||
River Point Sheridan Phase II | (7,924 | ) | (15,849 | ) | |||||||||||||||
The Shoppes at Parkwood Ranch | (4,225 | ) | (4,225 | ) | |||||||||||||||
North Towne Plaza | (14,088 | ) | (18,784 | ) | |||||||||||||||
(4 | ) | (114,639 | ) | (2) | (152,922 | ) | |||||||||||||
ClayPoint Distribution Park (Industrial) | (10,600 | ) | (3) | (10,600 | ) | ||||||||||||||
Other | 579 | 2,876 | |||||||||||||||||
At 9/30/2009 | 13 | $ | 241,853 | $ | 349,868 | ||||||||||||||
(1) Parcels moved to Land Held for development were available pads anticipated to be sold or ground leased that resulted in no net effect to estimated final investment. | |||||||||||||||||||
(2) WRI's pro rata historical cost, less imapairment charges, (including Land and CIP) moved to Land 'Held for Development was $73.9 million. | |||||||||||||||||||
(3) Reduction of estimated final investment due to sale of a 200,000 square foot building during the quarter. | |||||||||||||||||||
* Denotes entire properties that were moved to Land Held for Development. |
Page 19
As of September 30, 2009 | |||||||||||||||||
in thousands, except acres | |||||||||||||||||
Land Held for Development | |||||||||||||||||
At 6/30/2009 | Ownership | Gross | Investment (1) | ||||||||||||||
Location | Interest | Acres | 100% | Pro Rata | |||||||||||||
FM 1957 (Potranco Rd) and FM 211, San Antonio | 50.0 | % | 198.7 | ||||||||||||||
South Fulton Parkway and SH 92, Union City - Atlanta | 50.0 | % | 81.6 | ||||||||||||||
US Hwy 1 and Caveness Farms Road, Wake Forest - Raleigh | 100.0 | % | 79.9 | ||||||||||||||
Rock Prairie Rd. at Hwy. 6, College Station | 100.0 | % | 65.8 | ||||||||||||||
Shary Road and US Hwy 83, Mission | 50.0 | % | 36.9 | ||||||||||||||
Highway 17 and Highway 210, Surf City | 75.0 | % | 36.5 | ||||||||||||||
Decatur at 215 - Las Vegas | 100.0 | % | 25.3 | ||||||||||||||
US Hwy 15-501 & Bruce Wood Rd., Southern Pines, NC | 100.0 | % | 24.0 | ||||||||||||||
Creedmoor (Highway 50) and Crabtree Valley Avenue, Raleigh | 100.0 | % | 11.7 | ||||||||||||||
Bear Valley Road at Jess Ranch Parkway, Apple Valley | 50.0 | % | 10.3 | ||||||||||||||
Lon Adams Rd at Tangerine Farms Rd - Tuscan | 50.0 | % | 9.7 | ||||||||||||||
Mississippi at Havana, Aurora - Denver | 39.8 | % | 9.6 | ||||||||||||||
Culebra Road and Westwood Loop, San Antonio | 100.0 | % | 9.3 | ||||||||||||||
FM 2920 and Future 249, Tomball - Houston | 100.0 | % | 8.4 | ||||||||||||||
US Hwy 17 & US Hwy 74/76, Leland | 75.0 | % | 8.3 | ||||||||||||||
West Loop North at Interstate 10, Houston | 100.0 | % | 3.3 | ||||||||||||||
Bear Valley Road at Jess Ranch Parkway, Apple Valley | 50.0 | % | 3.2 | ||||||||||||||
Citadel Plaza at 610 North Loop, Houston | 100.0 | % | 3.1 | ||||||||||||||
Young Pines and Curry Ford Rd, Orange County, Florida - Orlando | 100.0 | % | 3.0 | ||||||||||||||
Northwest Freeway at Gessner, Houston | 100.0 | % | 2.7 | ||||||||||||||
Other (2) | 100.0 | % | 32.2 | ||||||||||||||
Total Land Held For Development Properties | 663.7 | $ | 144,810 | $ | 112,026 | ||||||||||||
Adjustments to Prior Quarter | Property Name | ||||||||||||||||
SH 281 & Wilderness Oaks, San Antonio, TX | Wilderness Oaks | 100.0 | % | 29.2 | |||||||||||||
FM 2920 and Future 249, Tomball - Houston | Tomball | 100.0 | % | 25.3 | |||||||||||||
Hwy 85 & Hwy 285, Sheridan, CO | River Point Sheridan | 50.0 | % | 23.0 | |||||||||||||
US 77 & FM 802, Brownsville, TX | North Towne Plaza | 75.0 | % | 21.9 | |||||||||||||
Highway 17 and Highway 210, Surf City | Surf City | 75.0 | % | 10.0 | |||||||||||||
SH 151 & Ingram Rd, San Antonio, TX | Westover Square | 66.7 | % | 8.5 | |||||||||||||
South 300 West & West Paxton Avenue, Salt Lake City, UT | 300 West | 31.8 | % | 7.5 | |||||||||||||
State Hwy 95 & Bullhead Pkwy, Bullhead City, AZ | Mohave Crossroads | 100.0 | % | 7.2 | |||||||||||||
Belle Terre Pkwy & State Rd 100, Palm Coast, FL | Palm Coast Landing | 50.0 | % | 6.7 | |||||||||||||
Mississippi at Havana, Aurora - Denver | Gardens of Havana | 39.8 | % | 5.8 | |||||||||||||
SR 207 & Rolling Hills Drive, St. Augustine, FL | Epic Village | 70.0 | % | 5.2 | |||||||||||||
US Hwy 17 & US Hwy 74/76, Leland | Waterford | 75.0 | % | 4.3 | |||||||||||||
SEC Poplar Ave at I-240, Memphis, TN | Ridgeway Trace | 100.0 | % | 4.0 | |||||||||||||
29th St at Nolana Loop, McAllen, TX | Market at Nolana | 50.0 | % | 3.8 | |||||||||||||
Southern Ave & Signal Butte Rd, Mesa, AZ | Parkwood Ranch | 100.0 | % | 1.5 | |||||||||||||
Subtotal 3Q Additions to Land Held for Development | 163.7 | $ | 80,267 | $ | 61,812 | ||||||||||||
Reduction of Basis due to additional Impairment Charges | $ | (10,532 | ) | $ | (8,801 | ) | |||||||||||
At 9/30/2009 | 827.4 | $ | 214,545 | $ | 165,038 | ||||||||||||
(1) Net of impairment adjustments made at 12/31/2008 and 9/30/2009 | |||||||||||||||||
(2) Primarily represents land parcels held by WRI for many years that have never been reported as new development assets. | |||||||||||||||||
Note: Land costs account for $170.1 million of total investment at 100%, $130.5 million at pro rata share and $155.1 million on a GAAP basis. |
Page 20
Weingarten Realty Investors | |||||||||||||||
Disposition Summary | |||||||||||||||
(in thousands at pro rata share) | |||||||||||||||
Sq. Ft. | |||||||||||||||
of Bldg. Area | Date | Sales | Weighted Sales | ||||||||||||
Center | City/State | at 100% | Sold | Proceeds | Cap | ||||||||||
Operating Properties (One-Off) | |||||||||||||||
New Boston Road Plaza | Texarkana, TX | 99 | 3/26/09 | ||||||||||||
Westland Fair Shopping Center - Wal-Mart and Lowe's | Las Vegas, NV | 387 | 3/31/09 | ||||||||||||
Paradise Marketplace - Smith's | Las Vegas, NV | 72 | 4/20/09 | ||||||||||||
Tropicana Marketplace - Smith's | Las Vegas, NV | 71 | 4/20/09 | ||||||||||||
Durham Festival | Durham, NC | 136 | 6/26/09 | ||||||||||||
Steeplechase | Houston, TX | 194 | 6/29/09 | ||||||||||||
Westmont | Beaumont, TX | 100 | 6/30/09 | ||||||||||||
Northwest Crossing Office/Service Center | Dallas, TX | 127 | 7/1/09 | ||||||||||||
Manhattan Place - IHOP | Harvey, LA | 5 | 8/13/09 | ||||||||||||
Manhattan Place - Chili's | Harvey, LA | 5 | 9/14/09 | ||||||||||||
Total Operating Properties | $ | 68,289 | 8.07 | % | |||||||||||
Merchant Development | |||||||||||||||
Westwood Center - McDonald's | San Antonio, TX | 3/13/09 | |||||||||||||
Mohave Crossroads - JP Morgan Chase Bank, NA | Bullhead City, AZ | 3/30/09 | |||||||||||||
Wyoming Mall - Wal-Mart | Albuquerque, NM | 3/31/09 | |||||||||||||
Glenwood Meadows | Glenwood Springs, CO | 4/1/09 | |||||||||||||
I-45 Telephone Road Shopping Center - Undeveloped Land | Houston, TX | 6/29/09 | |||||||||||||
ClayPoint Industrial Distribution Center | Houston, TX | 7/22/09 | |||||||||||||
Total Merchant Development | $ | 47,862 | |||||||||||||
Total Operting Properties & Merchant Development | $ | 116,151 |
Page 21
Weingarten Realty Investors | ||||||||||||||||||||||||||||||||||||||||||||||||
Total Net Operating Income at Pro rata Share by Geographic Region (1) | ||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands, except percentages) | ||||||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, | Twelve Months Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||||
2009 | % | 2008 | % | 2008 | % | 2007 | % | 2006 | % | 2005 | % | |||||||||||||||||||||||||||||||||||||
Western Region | ||||||||||||||||||||||||||||||||||||||||||||||||
California | $ | 37,771 | 12.7 | % | $ | 38,306 | 11.5 | % | $ | 51,176 | 12.1 | % | $ | 50,503 | 11.3 | % | $ | 50,074 | 12.1 | % | $ | 47,868 | 12.2 | % | ||||||||||||||||||||||||
Nevada | 23,738 | 8.0 | % | 25,735 | 7.7 | % | 34,360 | 8.1 | % | 31,338 | 7.0 | % | 27,796 | 6.7 | % | 25,161 | 6.4 | % | ||||||||||||||||||||||||||||||
Arizona | 20,440 | 6.8 | % | 19,631 | 5.9 | % | 26,181 | 6.2 | % | 23,192 | 5.2 | % | 15,009 | 3.6 | % | 14,965 | 3.9 | % | ||||||||||||||||||||||||||||||
Colorado | 6,758 | 2.3 | % | 8,800 | 2.6 | % | 10,779 | 2.4 | % | 12,162 | 2.7 | % | 13,488 | 3.3 | % | 11,447 | 2.9 | % | ||||||||||||||||||||||||||||||
New Mexico | 7,005 | 2.3 | % | 8,477 | 2.5 | % | 11,355 | 2.7 | % | 10,472 | 2.3 | % | 11,394 | 2.8 | % | 10,315 | 2.6 | % | ||||||||||||||||||||||||||||||
Utah | 2,714 | 0.9 | % | 2,722 | 0.8 | % | 3,614 | 0.9 | % | 3,545 | 0.8 | % | 3,231 | 0.8 | % | 2,926 | 0.7 | % | ||||||||||||||||||||||||||||||
Oregon | 1,020 | 0.3 | % | 1,060 | 0.3 | % | 1,385 | 0.3 | % | 929 | 0.2 | % | 46 | 0.0 | % | - | 0.0 | % | ||||||||||||||||||||||||||||||
Washington | 835 | 0.3 | % | 903 | 0.3 | % | 1,193 | 0.3 | % | 1,295 | 0.3 | % | 251 | 0.1 | % | - | 0.0 | % | ||||||||||||||||||||||||||||||
Total Western Region | 100,283 | 33.6 | % | 105,633 | 31.6 | % | 140,044 | 33.0 | % | 133,437 | 29.8 | % | 121,289 | 29.4 | % | 112,683 | 28.7 | % | ||||||||||||||||||||||||||||||
Central Region | ||||||||||||||||||||||||||||||||||||||||||||||||
Texas | $ | 85,219 | 28.6 | % | $ | 107,379 | 32.1 | % | $ | 124,407 | 29.2 | % | $ | 154,800 | 34.7 | % | $ | 154,473 | 37.4 | % | $ | 157,357 | 40.0 | % | ||||||||||||||||||||||||
Louisiana | 6,292 | 2.1 | % | 8,504 | 2.5 | % | 10,907 | 2.6 | % | 12,831 | 2.9 | % | 12,754 | 3.1 | % | 13,600 | 3.5 | % | ||||||||||||||||||||||||||||||
Kansas | 1,408 | 0.5 | % | 1,496 | 0.4 | % | 1,949 | 0.5 | % | 1,980 | 0.4 | % | 3,714 | 0.9 | % | 6,282 | 1.6 | % | ||||||||||||||||||||||||||||||
Arkansas | 2,292 | 0.8 | % | 2,171 | 0.7 | % | 3,006 | 0.7 | % | 3,028 | 0.7 | % | 3,505 | 0.8 | % | 3,855 | 1.0 | % | ||||||||||||||||||||||||||||||
Mississippi | - | 0.0 | % | - | 0.0 | % | - | 0.0 | % | - | 0.0 | % | (6 | ) | 0.0 | % | 956 | 0.2 | % | |||||||||||||||||||||||||||||
Illinois | 2,227 | 0.7 | % | 2,366 | 0.7 | % | 3,129 | 0.7 | % | 2,378 | 0.5 | % | 2,985 | 0.7 | % | 2,870 | 0.7 | % | ||||||||||||||||||||||||||||||
Missouri | 1,061 | 0.4 | % | 891 | 0.3 | % | 1,182 | 0.3 | % | 1,439 | 0.3 | % | 2,193 | 0.5 | % | 2,827 | 0.7 | % | ||||||||||||||||||||||||||||||
Oklahoma | 745 | 0.2 | % | 740 | 0.2 | % | 955 | 0.2 | % | 1,009 | 0.2 | % | 3,002 | 0.7 | % | 3,616 | 0.9 | % | ||||||||||||||||||||||||||||||
Total Central Region | 99,245 | 33.3 | % | 123,547 | 36.9 | % | 145,536 | 34.2 | % | 177,465 | 39.7 | % | 182,621 | 44.1 | % | 191,364 | 48.6 | % | ||||||||||||||||||||||||||||||
Eastern Region | ||||||||||||||||||||||||||||||||||||||||||||||||
Florida | $ | 51,074 | 17.1 | % | $ | 53,456 | 16.0 | % | $ | 70,335 | 16.5 | % | $ | 67,400 | 15.2 | % | $ | 56,601 | 13.7 | % | $ | 46,076 | 11.7 | % | ||||||||||||||||||||||||
North Carolina | 19,038 | 6.3 | % | 20,164 | 6.0 | % | 26,978 | 6.4 | % | 27,027 | 6.1 | % | 23,694 | 5.7 | % | 19,749 | 5.0 | % | ||||||||||||||||||||||||||||||
Virginia | 2,744 | 0.9 | % | 1,788 | 0.5 | % | 2,551 | 0.6 | % | 2,036 | 0.5 | % | - | 0.0 | % | - | 0.0 | % | ||||||||||||||||||||||||||||||
South Carolina | 231 | 0.1 | % | 210 | 0.1 | % | 276 | 0.1 | % | 287 | 0.1 | % | 242 | 0.1 | % | - | 0.0 | % | ||||||||||||||||||||||||||||||
Georgia | 16,945 | 5.7 | % | 19,029 | 5.7 | % | 25,039 | 5.9 | % | 23,929 | 5.4 | % | 14,861 | 3.6 | % | 12,119 | 3.1 | % | ||||||||||||||||||||||||||||||
Tennessee | 3,605 | 1.2 | % | 5,452 | 1.6 | % | 7,015 | 1.6 | % | 6,964 | 1.6 | % | 7,386 | 1.8 | % | 5,967 | 1.6 | % | ||||||||||||||||||||||||||||||
Kentucky | 4,967 | 1.7 | % | 4,978 | 1.5 | % | 6,629 | 1.6 | % | 6,787 | 1.5 | % | 5,944 | 1.5 | % | 4,719 | 1.2 | % | ||||||||||||||||||||||||||||||
Maine | 249 | 0.1 | % | 191 | 0.1 | % | 278 | 0.1 | % | 381 | 0.1 | % | 433 | 0.1 | % | 538 | 0.1 | % | ||||||||||||||||||||||||||||||
Total Eastern Region | 98,853 | 33.1 | % | 105,269 | 31.5 | % | 139,101 | 32.8 | % | 134,811 | 30.5 | % | 109,161 | 26.5 | % | 89,167 | 22.7 | % | ||||||||||||||||||||||||||||||
Total Net Operating Income | $ | 298,381 | 100.0 | % | $ | 334,449 | 100.0 | % | $ | 424,681 | 100.0 | % | $ | 445,713 | 100.0 | % | $ | 413,072 | 100.0 | % | $ | 393,214 | 100.0 | % | ||||||||||||||||||||||||
(1) The Net Operating Income at Pro rata Share includes the real estate operations of joint ventures at WRI's ownership percentages ranging from 7.8% to 81% except for the operations of down-reit partnerships, which are included at 100%. Net Operating Income excludes the effect of lease cancellation income, straight-line rent adjustments and impairment charges. Pro rata financial information is not, and is not intended to be, a presentation in accordance with generally accepted accounting principles. |
Page 22
Weingarten Realty Investors | |||||||||||||||||||||||||||||||
Average Base Rents by CBSA | |||||||||||||||||||||||||||||||
As of: 9/30/2009 | |||||||||||||||||||||||||||||||
In Thousands, except per square foot amounts | |||||||||||||||||||||||||||||||
Economics reflect WRI's pro rata ownership interest | |||||||||||||||||||||||||||||||
Occupied | Annualized | Avg. Base | Occupied | Annualized | Avg. Base | ||||||||||||||||||||||||||
SF | Rents | Rents | SF | Rents | Rents | ||||||||||||||||||||||||||
# of | |||||||||||||||||||||||||||||||
Properties | GLA | Total ABR | Greater than 10K SF | Less than 10K SF | |||||||||||||||||||||||||||
Retail | |||||||||||||||||||||||||||||||
West Region | |||||||||||||||||||||||||||||||
Flagstaff, AZ | 1 | 166 | $ | 10.45 | 126 | $ | 1,018 | $ | 8.07 | 36 | $ | 673 | $ | 18.85 | |||||||||||||||||
Lake Havasu City-Kingman, AZ | 1 | 150 | $ | 14.91 | 112 | $ | 1,425 | $ | 12.67 | 33 | $ | 738 | $ | 22.66 | |||||||||||||||||
Phoenix-Mesa-Scottsdale, AZ | 17 | 1,374 | $ | 14.21 | 722 | $ | 6,429 | $ | 8.90 | 487 | $ | 10,761 | $ | 22.08 | |||||||||||||||||
Tucson, AZ | 5 | 766 | $ | 13.33 | 436 | $ | 3,585 | $ | 8.22 | 197 | $ | 4,851 | $ | 24.67 | |||||||||||||||||
Arizona | 24 | 2,456 | $ | 13.71 | 1,397 | $ | 12,457 | $ | 8.91 | 752 | $ | 17,021 | $ | 22.63 | |||||||||||||||||
Los Angeles-Long Beach et al, CA | 3 | 584 | $ | 17.25 | 395 | $ | 5,591 | $ | 14.14 | 152 | $ | 3,858 | $ | 25.33 | |||||||||||||||||
Madera, CA | 1 | 85 | $ | 12.52 | 52 | $ | 492 | $ | 9.46 | 26 | $ | 489 | $ | 18.58 | |||||||||||||||||
Modesto, CA | 1 | 79 | $ | 15.13 | 47 | $ | 515 | $ | 10.84 | 27 | $ | 615 | $ | 22.65 | |||||||||||||||||
Redding, CA | 1 | 121 | $ | 16.43 | 65 | $ | 560 | $ | 8.67 | 44 | $ | 1,222 | $ | 27.85 | |||||||||||||||||
Riverside et al, CA | 4 | 636 | $ | 18.74 | 304 | $ | 3,656 | $ | 12.05 | 207 | $ | 5,908 | $ | 28.57 | |||||||||||||||||
Sacramento--Arden et al, CA | 5 | 630 | $ | 12.03 | 330 | $ | 1,765 | $ | 5.34 | 212 | $ | 4,762 | $ | 22.44 | |||||||||||||||||
San Diego-Carlsbad et al, CA | 2 | 157 | $ | 20.65 | 73 | $ | 739 | $ | 10.16 | 73 | $ | 2,272 | $ | 31.08 | |||||||||||||||||
San Francisco-Oakland et al, CA | 3 | 447 | $ | 20.89 | 246 | $ | 3,575 | $ | 14.55 | 162 | $ | 4,944 | $ | 30.48 | |||||||||||||||||
San Jose-Sunnyvale et al, CA | 2 | 146 | $ | 19.71 | 66 | $ | 423 | $ | 6.43 | 65 | $ | 2,153 | $ | 33.18 | |||||||||||||||||
Santa Cruz-Watsonville, CA | 1 | 150 | $ | 9.85 | 93 | $ | 553 | $ | 5.93 | 46 | $ | 817 | $ | 17.79 | |||||||||||||||||
Santa Rosa-Petaluma, CA | 1 | 199 | $ | 12.92 | 55 | $ | 393 | $ | 7.20 | 29 | $ | 693 | $ | 23.54 | |||||||||||||||||
Vallejo-Fairfield, CA | 3 | 364 | $ | 16.80 | 165 | $ | 1,214 | $ | 7.37 | 162 | $ | 4,271 | $ | 26.38 | |||||||||||||||||
California | 27 | 3,598 | $ | 16.63 | 1,890 | $ | 19,476 | $ | 10.30 | 1,206 | $ | 32,004 | $ | 26.54 | |||||||||||||||||
Colorado Springs, CO | 2 | 297 | $ | 8.89 | 243 | $ | 1,852 | $ | 7.62 | 47 | $ | 722 | $ | 15.51 | |||||||||||||||||
Denver-Aurora, CO | 9 | 1,035 | $ | 14.61 | 334 | $ | 2,872 | $ | 8.60 | 253 | $ | 5,708 | $ | 22.54 | |||||||||||||||||
Colorado | 11 | 1,332 | $ | 12.72 | 577 | $ | 4,723 | $ | 8.19 | 300 | $ | 6,430 | $ | 21.44 | |||||||||||||||||
Las Vegas-Paradise, NV | 11 | 2,225 | $ | 14.63 | 1,406 | $ | 14,888 | $ | 10.59 | 537 | $ | 13,547 | $ | 25.23 | |||||||||||||||||
Nevada | 11 | 2,225 | $ | 14.63 | 1,406 | $ | 14,888 | $ | 10.59 | 537 | $ | 13,547 | $ | 25.23 | |||||||||||||||||
Albuquerque, NM | 4 | 506 | $ | 15.66 | 213 | $ | 2,427 | $ | 11.38 | 156 | $ | 3,362 | $ | 21.50 | |||||||||||||||||
Santa Fe, NM | 1 | 248 | $ | 14.19 | 134 | $ | 1,583 | $ | 11.82 | 82 | $ | 1,479 | $ | 18.09 | |||||||||||||||||
New Mexico | 5 | 754 | $ | 15.12 | 347 | $ | 4,010 | $ | 11.55 | 238 | $ | 4,842 | $ | 20.33 | |||||||||||||||||
Portland-Vancouver et al, OR-WA | 3 | 120 | $ | 13.26 | 66 | $ | 559 | $ | 8.51 | 45 | $ | 910 | $ | 20.17 | |||||||||||||||||
Oregon | 3 | 120 | $ | 13.26 | 66 | $ | 559 | $ | 8.51 | 45 | $ | 910 | $ | 20.17 | |||||||||||||||||
Provo-Orem, UT | 1 | 30 | $ | 15.23 | 12 | $ | 158 | $ | 13.43 | 17 | $ | 285 | $ | 16.46 | |||||||||||||||||
Salt Lake City, UT | 2 | 276 | $ | 12.46 | 175 | $ | 1,771 | $ | 10.11 | 83 | $ | 1,445 | $ | 17.42 | |||||||||||||||||
Utah | 3 | 307 | $ | 12.74 | 187 | $ | 1,929 | $ | 10.32 | 100 | $ | 1,730 | $ | 17.26 | |||||||||||||||||
Seattle-Tacoma-Bellevue, WA | 4 | 82 | $ | 17.22 | 64 | $ | 961 | $ | 15.08 | 14 | $ | 373 | $ | 27.13 | |||||||||||||||||
Washington | 4 | 82 | $ | 17.22 | 64 | $ | 961 | $ | 15.08 | 14 | $ | 373 | $ | 27.13 | |||||||||||||||||
Total West Region | 88 | 10,873 | $ | 14.89 | 5,934 | $ | 59,003 | $ | 9.94 | 3,192 | $ | 76,858 | $ | 24.08 | |||||||||||||||||
Central Region | |||||||||||||||||||||||||||||||
Little Rock-N. Little Rock, AR | 3 | 358 | $ | 8.82 | 298 | $ | 2,287 | $ | 7.67 | 45 | $ | 736 | $ | 16.41 | |||||||||||||||||
Arkansas | 3 | 358 | $ | 8.82 | 298 | $ | 2,287 | $ | 7.67 | 45 | $ | 736 | $ | 16.41 | |||||||||||||||||
Chicago et al, IL-IN-WI | 1 | 304 | $ | 10.72 | 268 | $ | 2,547 | $ | 9.49 | 20 | $ | 548 | $ | 27.06 | |||||||||||||||||
Illinois | 1 | 304 | $ | 10.72 | 268 | $ | 2,547 | $ | 9.49 | 20 | $ | 548 | $ | 27.06 | |||||||||||||||||
Kansas City, MO-KS | 1 | 135 | $ | 9.47 | 76 | $ | 601 | $ | 7.89 | 35 | $ | 449 | $ | 12.96 | |||||||||||||||||
Topeka, KS | 1 | 116 | $ | 11.26 | 116 | $ | 1,303 | $ | 11.26 | 0 | $ | 0 | $ | 0.00 | |||||||||||||||||
Kansas | 2 | 251 | $ | 10.39 | 192 | $ | 1,904 | $ | 9.92 | 35 | $ | 449 | $ | 12.96 | |||||||||||||||||
Hammond, LA | 1 | 227 | $ | 6.69 | 108 | $ | 339 | $ | 3.14 | 82 | $ | 933 | $ | 11.33 | |||||||||||||||||
Lafayette, LA | 1 | 141 | $ | 10.08 | 50 | $ | 411 | $ | 8.26 | 69 | $ | 788 | $ | 11.39 | |||||||||||||||||
Lake Charles, LA | 4 | 462 | $ | 6.94 | 321 | $ | 1,733 | $ | 5.39 | 86 | $ | 1,092 | $ | 12.75 |
Page 23
Weingarten Realty Investors | |||||||||||||||||||||||||||||||
Average Base Rents by CBSA | |||||||||||||||||||||||||||||||
As of: 9/30/2009 | |||||||||||||||||||||||||||||||
In Thousands, except per square foot amounts | |||||||||||||||||||||||||||||||
Economics reflect WRI's pro rata ownership interest | |||||||||||||||||||||||||||||||
Occupied | Annualized | Avg. Base | Occupied | Annualized | Avg. Base | ||||||||||||||||||||||||||
SF | Rents | Rents | SF | Rents | Rents | ||||||||||||||||||||||||||
# of | |||||||||||||||||||||||||||||||
Properties | GLA | Total ABR | Greater than 10K SF | Less than 10K SF | |||||||||||||||||||||||||||
Monroe, LA | 1 | 141 | $ | 5.20 | 87 | $ | 296 | $ | 3.42 | 45 | $ | 387 | $ | 8.64 | |||||||||||||||||
New Orleans-Metairie-Kenner, LA | 1 | 156 | $ | 14.80 | 78 | $ | 732 | $ | 9.36 | 70 | $ | 1,463 | $ | 20.87 | |||||||||||||||||
Louisiana | 8 | 1,128 | $ | 8.21 | 644 | $ | 3,511 | $ | 5.45 | 352 | $ | 4,664 | $ | 13.25 | |||||||||||||||||
St. Louis, MO-IL | 2 | 229 | $ | 9.51 | 130 | $ | 1,097 | $ | 8.44 | 52 | $ | 633 | $ | 12.18 | |||||||||||||||||
Missouri | 2 | 229 | $ | 9.51 | 130 | $ | 1,097 | $ | 8.44 | 52 | $ | 633 | $ | 12.18 | |||||||||||||||||
Oklahoma City, OK | 2 | 163 | $ | 8.00 | 80 | $ | 432 | $ | 5.43 | 50 | $ | 607 | $ | 12.07 | |||||||||||||||||
Oklahoma | 2 | 163 | $ | 8.00 | 80 | $ | 432 | $ | 5.43 | 50 | $ | 607 | $ | 12.07 | |||||||||||||||||
Amarillo, TX | 3 | 227 | $ | 11.00 | 65 | $ | 418 | $ | 6.45 | 133 | $ | 1,758 | $ | 13.21 | |||||||||||||||||
Beaumont-Port Arthur, TX | 7 | 315 | $ | 7.39 | 183 | $ | 826 | $ | 4.51 | 97 | $ | 1,243 | $ | 12.86 | |||||||||||||||||
College Station-Bryan, TX | 1 | 107 | $ | 10.79 | 86 | $ | 923 | $ | 10.74 | 17 | $ | 188 | $ | 11.07 | |||||||||||||||||
Corpus Christi, TX | 2 | 490 | $ | 13.47 | 194 | $ | 1,885 | $ | 9.72 | 191 | $ | 3,302 | $ | 17.28 | |||||||||||||||||
Dallas-Fort Worth-Arlington, TX | 10 | 1,238 | $ | 12.79 | 628 | $ | 6,331 | $ | 10.09 | 412 | $ | 6,966 | $ | 16.91 | |||||||||||||||||
Houston-Baytown-Sugar Land, TX | 60 | 4,421 | $ | 13.59 | 2,419 | $ | 22,736 | $ | 9.40 | 1,436 | $ | 29,645 | $ | 20.64 | |||||||||||||||||
Killeen-Temple-Fort Hood, TX | 1 | 115 | $ | 11.85 | 98 | $ | 1,033 | $ | 10.52 | 15 | $ | 307 | $ | 20.62 | |||||||||||||||||
Laredo, TX | 2 | 377 | $ | 14.19 | 260 | $ | 3,036 | $ | 11.70 | 97 | $ | 2,029 | $ | 20.83 | |||||||||||||||||
Lubbock, TX | 1 | 151 | $ | 8.92 | 112 | $ | 740 | $ | 6.58 | 36 | $ | 588 | $ | 16.19 | |||||||||||||||||
Lufkin, TX | 1 | 248 | $ | 6.79 | 205 | $ | 1,073 | $ | 5.24 | 29 | $ | 512 | $ | 17.91 | |||||||||||||||||
McAllen-Edinburg-Pharr, TX | 7 | 487 | $ | 11.81 | 377 | $ | 3,709 | $ | 9.84 | 85 | $ | 1,744 | $ | 20.50 | |||||||||||||||||
Rio Grande City, TX | 1 | 88 | $ | 11.27 | 76 | $ | 788 | $ | 10.42 | 13 | $ | 208 | $ | 16.27 | |||||||||||||||||
San Antonio, TX | 7 | 572 | $ | 11.98 | 363 | $ | 3,160 | $ | 8.71 | 162 | $ | 3,120 | $ | 19.30 | |||||||||||||||||
Tyler, TX | 1 | 60 | $ | 7.62 | 33 | $ | 212 | $ | 6.35 | 18 | $ | 181 | $ | 9.93 | |||||||||||||||||
Texas | 104 | 8,898 | $ | 12.59 | 5,098 | $ | 46,869 | $ | 9.19 | 2,741 | $ | 51,790 | $ | 18.90 | |||||||||||||||||
Total Central Region | 122 | 11,331 | $ | 11.80 | 6,710 | $ | 58,647 | $ | 8.74 | 3,295 | $ | 59,427 | $ | 18.04 | |||||||||||||||||
East Region | |||||||||||||||||||||||||||||||
Fort Walton Beach et al, FL | 2 | 70 | $ | 15.08 | 45 | $ | 575 | $ | 12.86 | 14 | $ | 307 | $ | 22.30 | |||||||||||||||||
Jacksonville, FL | 2 | 319 | $ | 9.73 | 250 | $ | 1,869 | $ | 7.47 | 63 | $ | 1,178 | $ | 18.76 | |||||||||||||||||
Miami-Fort Lauderdale et al, FL | 16 | 2,011 | $ | 15.10 | 1,131 | $ | 11,322 | $ | 10.01 | 729 | $ | 16,768 | $ | 23.02 | |||||||||||||||||
Orlando, FL | 13 | 1,697 | $ | 15.73 | 975 | $ | 12,234 | $ | 12.55 | 423 | $ | 9,751 | $ | 23.06 | |||||||||||||||||
Palm Bay-Melbourne et al, FL | 3 | 182 | $ | 9.00 | 102 | $ | 587 | $ | 5.75 | 61 | $ | 885 | $ | 14.39 | |||||||||||||||||
Palm Coast, FL | 1 | 83 | $ | 17.53 | 53 | $ | 739 | $ | 13.90 | 25 | $ | 632 | $ | 25.26 | |||||||||||||||||
Port St. Lucie-Fort Pierce, FL | 1 | 50 | $ | 10.99 | 37 | $ | 315 | $ | 8.51 | 5 | $ | 152 | $ | 27.97 | |||||||||||||||||
Punta Gorda, FL | 2 | 25 | $ | 16.99 | 15 | $ | 215 | $ | 14.34 | 6 | $ | 137 | $ | 23.94 | |||||||||||||||||
Sarasota-Bradenton-Venice, FL | 1 | 97 | $ | 10.70 | 46 | $ | 324 | $ | 7.13 | 40 | $ | 588 | $ | 14.78 | |||||||||||||||||
Tampa-St. Petersburg et al, FL | 4 | 924 | $ | 13.44 | 522 | $ | 5,164 | $ | 9.89 | 279 | $ | 5,609 | $ | 20.10 | |||||||||||||||||
Florida | 45 | 5,459 | $ | 14.39 | 3,177 | $ | 33,345 | $ | 10.50 | 1,644 | $ | 36,008 | $ | 21.90 | |||||||||||||||||
Atlanta-Sandy Springs et al, GA | 14 | 1,646 | $ | 13.54 | 973 | $ | 9,351 | $ | 9.61 | 489 | $ | 10,449 | $ | 21.39 | |||||||||||||||||
Gainesville, GA | 1 | 28 | $ | 13.32 | 21 | $ | 239 | $ | 11.31 | 5 | $ | 111 | $ | 21.51 | |||||||||||||||||
Georgia | 15 | 1,674 | $ | 13.54 | 994 | $ | 9,590 | $ | 9.64 | 494 | $ | 10,560 | $ | 21.39 | |||||||||||||||||
Lexington-Fayette, KY | 2 | 304 | $ | 13.80 | 218 | $ | 1,981 | $ | 9.08 | 190 | $ | 3,655 | $ | 19.23 | |||||||||||||||||
Louisville, KY-IN | 1 | 169 | $ | 11.99 | 73 | $ | 628 | $ | 8.56 | 64 | $ | 1,018 | $ | 15.92 | |||||||||||||||||
Kentucky | 3 | 473 | $ | 13.34 | 292 | $ | 2,609 | $ | 8.95 | 254 | $ | 4,673 | $ | 18.39 | |||||||||||||||||
Lewiston-Auburn, ME | 1 | 154 | $ | 5.47 | 88 | $ | 430 | $ | 4.90 | 28 | $ | 201 | $ | 7.25 | |||||||||||||||||
Maine | 1 | 154 | $ | 5.47 | 88 | $ | 430 | $ | 4.90 | 28 | $ | 201 | $ | 7.25 | |||||||||||||||||
Charlotte-Gastonia et al, NC-SC | 4 | 319 | $ | 17.14 | 154 | $ | 2,099 | $ | 13.67 | 129 | $ | 2,752 | $ | 21.26 | |||||||||||||||||
Durham, NC | 5 | 207 | $ | 12.18 | 102 | $ | 998 | $ | 9.78 | 77 | $ | 1,185 | $ | 15.36 | |||||||||||||||||
Raleigh-Cary, NC | 13 | 1,636 | $ | 11.55 | 989 | $ | 7,537 | $ | 7.62 | 543 | $ | 10,167 | $ | 18.72 | |||||||||||||||||
Southern Pines-Pinehurst, NC | 1 | 250 | $ | 8.80 | 112 | $ | 565 | $ | 5.03 | 66 | $ | 1,003 | $ | 15.24 | |||||||||||||||||
Wilmington, NC | 1 | 53 | $ | 12.13 | 37 | $ | 300 | $ | 8.20 | 15 | $ | 322 | $ | 21.94 | |||||||||||||||||
North Carolina | 24 | 2,466 | $ | 12.11 | 1,394 | $ | 11,500 | $ | 8.25 | 830 | $ | 15,428 | $ | 18.59 | |||||||||||||||||
Hilton Head Island-Beaufort, SC | 1 | 22 | $ | 14.81 | 5 | $ | 47 | $ | 9.00 | 16 | $ | 266 | $ | 16.74 | |||||||||||||||||
South Carolina | 1 | 22 | $ | 14.81 | 5 | $ | 47 | $ | 9.00 | 16 | $ | 266 | $ | 16.74 | |||||||||||||||||
Memphis, TN-MS-AR | 6 | 424 | $ | 11.24 | 264 | $ | 2,285 | $ | 8.67 | 128 | $ | 2,118 | $ | 16.56 | |||||||||||||||||
Tennessee | 6 | 424 | $ | 11.24 | 264 | $ | 2,285 | $ | 8.67 | 128 | $ | 2,118 | $ | 16.56 |
Page 24
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Average Base Rents by CBSA | |||||||||||||||||||||||||||||||
As of: 9/30/2009 | |||||||||||||||||||||||||||||||
In Thousands, except per square foot amounts | |||||||||||||||||||||||||||||||
Economics reflect WRI's pro rata ownership interest | |||||||||||||||||||||||||||||||
Occupied | Annualized | Avg. Base | Occupied | Annualized | Avg. Base | ||||||||||||||||||||||||||
SF | Rents | Rents | SF | Rents | Rents | ||||||||||||||||||||||||||
# of | |||||||||||||||||||||||||||||||
Properties | GLA | Total ABR | Greater than 10K SF | Less than 10K SF | |||||||||||||||||||||||||||
Total East Region | 95 | 10,671 | $ | 13.43 | 6,213 | $ | 59,806 | $ | 9.63 | 3,394 | $ | 69,253 | $ | 20.41 | |||||||||||||||||
Total Retail | 305 | 32,875 | $ | 13.33 | 18,858 | $ | 177,457 | $ | 9.41 | 9,881 | $ | 205,538 | $ | 20.80 | |||||||||||||||||
Industrial | |||||||||||||||||||||||||||||||
West Region | |||||||||||||||||||||||||||||||
San Diego-Carlsbad et al, CA | 1 | 145 | $ | 7.16 | 66 | $ | 469 | $ | 7.08 | 1 | $ | 11 | $ | 12.60 | |||||||||||||||||
California | 1 | 145 | $ | 7.16 | 66 | $ | 469 | $ | 7.08 | 1 | $ | 11 | $ | 12.60 | |||||||||||||||||
Total West Region | 1 | 145 | $ | 7.16 | 66 | $ | 469 | $ | 7.08 | 1 | $ | 11 | $ | 12.60 | |||||||||||||||||
Central Region | |||||||||||||||||||||||||||||||
Austin-Round Rock, TX | 6 | 427 | $ | 9.67 | 71 | $ | 693 | $ | 9.79 | 259 | $ | 2,495 | $ | 9.64 | |||||||||||||||||
Dallas-Fort Worth-Arlington, TX | 15 | 2,327 | $ | 4.83 | 1,562 | $ | 6,758 | $ | 4.33 | 381 | $ | 2,632 | $ | 6.91 | |||||||||||||||||
Houston-Baytown-Sugar Land, TX | 31 | 3,392 | $ | 5.88 | 2,368 | $ | 12,851 | $ | 5.43 | 659 | $ | 4,947 | $ | 7.51 | |||||||||||||||||
San Antonio, TX | 3 | 545 | $ | 5.60 | 324 | $ | 1,705 | $ | 5.26 | 177 | $ | 1,104 | $ | 6.23 | |||||||||||||||||
Texas | 55 | 6,690 | $ | 5.72 | 4,324 | $ | 22,007 | $ | 5.09 | 1,476 | $ | 11,178 | $ | 7.57 | |||||||||||||||||
Total Central Region | 55 | 6,690 | $ | 5.72 | 4,324 | $ | 22,007 | $ | 5.09 | 1,476 | $ | 11,178 | $ | 7.57 | |||||||||||||||||
East Region | |||||||||||||||||||||||||||||||
Lakeland, FL | 2 | 768 | $ | 4.59 | 708 | $ | 3,245 | $ | 4.59 | 0 | $ | 0 | $ | 0.00 | |||||||||||||||||
Tampa-St. Petersburg et al, FL | 3 | 896 | $ | 4.46 | 770 | $ | 3,411 | $ | 4.43 | 17 | $ | 98 | $ | 5.71 | |||||||||||||||||
Florida | 5 | 1,665 | $ | 4.52 | 1,477 | $ | 6,656 | $ | 4.51 | 17 | $ | 98 | $ | 5.71 | |||||||||||||||||
Atlanta-Sandy Springs et al, GA | 9 | 1,560 | $ | 3.80 | 1,124 | $ | 4,259 | $ | 3.79 | 17 | $ | 74 | $ | 4.48 | |||||||||||||||||
Georgia | 9 | 1,560 | $ | 3.80 | 1,124 | $ | 4,259 | $ | 3.79 | 17 | $ | 74 | $ | 4.48 | |||||||||||||||||
Memphis, TN-MS-AR | 3 | 685 | $ | 2.68 | 576 | $ | 1,539 | $ | 2.67 | 2 | $ | 8 | $ | 4.05 | |||||||||||||||||
Tennessee | 3 | 685 | $ | 2.68 | 576 | $ | 1,539 | $ | 2.67 | 2 | $ | 8 | $ | 4.05 | |||||||||||||||||
Richmond, VA | 9 | 904 | $ | 5.00 | 731 | $ | 3,610 | $ | 4.94 | 5 | $ | 62 | $ | 13.50 | |||||||||||||||||
Virginia | 9 | 904 | $ | 5.00 | 731 | $ | 3,610 | $ | 4.94 | 5 | $ | 62 | $ | 13.50 | |||||||||||||||||
Total East Region | 26 | 4,813 | $ | 4.13 | 3,908 | $ | 16,064 | $ | 4.11 | 40 | $ | 243 | $ | 6.02 | |||||||||||||||||
Total Industrial | 82 | 11,649 | $ | 5.09 | 8,299 | $ | 38,541 | $ | 4.64 | 1,517 | $ | 11,432 | $ | 7.54 | |||||||||||||||||
Joint venture properties are reflected at WRI's pro rata share | |||||||||||||||||||||||||||||||
Occupied SF based on commenced leases | |||||||||||||||||||||||||||||||
# of properties and GLA differ from property list due to new development properties with no commenced leases and the combining of certain properties on the property list |
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Weingarten Realty Investors | ||||||||||||||||||||
Property Listing at September 30, 2009 | ||||||||||||||||||||
Gross Leasable Area | ||||||||||||||||||||
# of | WRI | Joint Venture | Owned | |||||||||||||||||
ALL PROPERTIES BY STATE | Properties | Owned | Share | by Other | Total | |||||||||||||||
Arizona | 25 | 2,477,294 | - | 1,245,430 | 3,722,724 | |||||||||||||||
Arkansas | 3 | 357,740 | - | - | 357,740 | |||||||||||||||
California | 29 | 3,872,720 | 889,161 | 546,242 | 5,308,124 | |||||||||||||||
Colorado | 11 | 1,331,749 | 1,205,934 | 1,246,886 | 3,784,565 | |||||||||||||||
Florida | 50 | 7,193,405 | 2,372,118 | 1,340,913 | 10,896,517 | |||||||||||||||
Georgia | 23 | 3,283,094 | 878,340 | 716,003 | 4,877,437 | |||||||||||||||
Illinois | 1 | 303,566 | - | - | 303,566 | |||||||||||||||
Kansas | 2 | 250,855 | - | - | 250,855 | |||||||||||||||
Kentucky | 4 | 609,265 | - | 122,454 | 731,719 | |||||||||||||||
Louisiana | 12 | 1,146,408 | 274,974 | 781,925 | 2,203,307 | |||||||||||||||
Maine | 1 | 153,776 | 51,258 | - | 205,034 | |||||||||||||||
Missouri | 2 | 229,337 | 28,422 | - | 257,760 | |||||||||||||||
Nevada | 12 | 2,374,790 | - | 1,160,131 | 3,534,921 | |||||||||||||||
New Mexico | 6 | 817,950 | - | 605,732 | 1,423,682 | |||||||||||||||
North Carolina | 25 | 2,502,557 | 211,924 | 742,374 | 3,456,855 | |||||||||||||||
Oklahoma | 2 | 163,127 | - | - | 163,127 | |||||||||||||||
Oregon | 3 | 119,939 | 90,927 | 62,600 | 273,466 | |||||||||||||||
South Carolina | 1 | 21,530 | 64,590 | - | 86,120 | |||||||||||||||
Tennessee | 9 | 1,198,535 | 671,287 | 137,740 | 2,007,562 | |||||||||||||||
Texas | 161 | 16,307,960 | 5,357,143 | 3,160,087 | 24,825,187 | |||||||||||||||
Utah | 3 | 306,638 | 60,772 | 296,357 | 663,767 | |||||||||||||||
Virginia | 9 | 904,159 | 1,607,058 | - | 2,511,217 | |||||||||||||||
Washington | 4 | 81,875 | 327,497 | 65,346 | 474,718 | |||||||||||||||
Grand Total | 398 | 46,008,269 | 14,091,405 | 12,230,220 | 72,319,970 | |||||||||||||||
Total Retail | 315 | 34,000,660 | 8,805,518 | 12,029,370 | 54,825,624 | |||||||||||||||
Total Industrial | 80 | 11,726,038 | 5,285,887 | 200,850 | 17,212,775 | |||||||||||||||
Total Other | 3 | 281,571 | - | - | 281,571 | |||||||||||||||
Footnotes for detail property listing | ||||||||||||||||||||
(1) Denotes partial ownership. The square feet figures represent WRI's proportionate ownership of the property held by the joint venture or partnership. | ||||||||||||||||||||
(2) Denotes property currently under development. | ||||||||||||||||||||
(3) Denotes properties that are not consolidated for SEC reporting purposes. | ||||||||||||||||||||
(+) Denotes supermarket or discount store offering full service grocery along with general merchandise. | ||||||||||||||||||||
NOTE: Square feet is reflective of area available to be leased. Certain listed properties may have additional square feet under WRI ownership. |
Page 26
Weingarten Realty Investors | ||||||||||||||||||
Property Listing at September 30, 2009 | ||||||||||||||||||
Gross Leasable Area | ||||||||||||||||||
Joint | ||||||||||||||||||
Center | Location | Anchors | WRI | Foot | WRI | Venture | Owned by | |||||||||||
Owned % | Notes | Owned | Share | Other | Total | |||||||||||||
Retail | ||||||||||||||||||
Operating Properties | ||||||||||||||||||
Arizona | ||||||||||||||||||
Palmilla Center | Dysart Rd. at McDowell Rd., Avondale | Office Max, PetsMart, Dollar Tree, Fry’s Supermarket + (O.B.O.) | 100.00 | % | 103,568 | 0 | 70,255 | 173,823 | ||||||||||
Raintree Ranch | Ray Road at Price Road, Chandler | Whole Foods +, Golf Galaxy, Bodhi Wellness Center | 100.00 | % | 136,230 | 0 | 0 | 136,230 | ||||||||||
University Plaza | Plaza Way at Milton Rd., Flagstaff | PetsMart, Safeway +, Ross Dress for Less, Bed Bath & Beyond, Dollar Tree | 100.00 | % | 165,621 | 0 | 0 | 165,621 | ||||||||||
Val Vista Towne Center | Warner at Val Vista Rd., Gilbert | Target (O.B.O.), Staples, Ross Dress for Less, Petco | 100.00 | % | 93,372 | 0 | 146,347 | 239,719 | ||||||||||
Arrowhead Festival S.C. | 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.) | 100.00 | % | 29,834 | 0 | 168,624 | 198,458 | ||||||||||
Fry's Ellsworth Plaza | Broadway Rd. at Ellsworth Rd., Mesa | Fry’s Supermarket + (O.B.O.) | 100.00 | % | 9,034 | 0 | 64,574 | 73,608 | ||||||||||
Monte Vista Village Center | Baseline Rd. at Ellsworth Rd., Mesa | Safeway + (O.B.O.) | 100.00 | % | 45,751 | 0 | 62,800 | 108,551 | ||||||||||
Red Mountain Gateway | Power Rd. at McKellips Rd., Mesa | Target (O.B.O.), Bed Bath & Beyond, Famous Footwear | 100.00 | % | 69,568 | 0 | 136,000 | 205,568 | ||||||||||
Camelback Village Square | Camelback at 7th Avenue, Phoenix | Fry’s Supermarket +, Office Max | 100.00 | % | 134,494 | 0 | 100,000 | 234,494 | ||||||||||
Laveen Village Market | Baseline Rd. at 51st St., Phoenix | Fry’s Supermarket + (O.B.O.), Home Depot (O.B.O.) | 100.00 | % | 40,025 | 0 | 71,619 | 111,644 | ||||||||||
Rancho Encanto | 35th Avenue at Greenway Rd., Phoenix | Blockbuster, Fresh N Easy +, Family Dollar | 100.00 | % | 70,859 | 0 | 0 | 70,859 | ||||||||||
Squaw Peak Plaza | 16th Street at Glendale Ave., Phoenix | Basha's +, Blockbuster | 100.00 | % | 60,890 | 0 | 0 | 60,890 | ||||||||||
Fountain Plaza | 77th St. at McDowell, Scottsdale | Fry’s Supermarket +, Dollar Tree, Lowes (O.B.O.) | 100.00 | % | 102,271 | 0 | 165,000 | 267,271 | ||||||||||
Scottsdale Horizon | Frank Lloyd Wright Blvd and Thompson Peak Parkway, Scottsdale | Baja Fresh Mexican Grill | 100.00 | % | 10,337 | 0 | 0 | 10,337 | ||||||||||
Basha's Valley Plaza | S. McClintock at E. Southern, Tempe | Basha’s +, Ross Dress for Less | 100.00 | % | 145,104 | 0 | 0 | 145,104 | ||||||||||
Broadway Marketplace | Broadway at Rural, Tempe | Office Max, Ace Hardware | 100.00 | % | 82,757 | 0 | 0 | 82,757 | ||||||||||
Pueblo Anozira | McClintock Dr. at Guadalupe Rd., Tempe | Fry’s Food & Drug +, Petco, Dollar Tree | 100.00 | % | 157,359 | 0 | 0 | 157,359 | ||||||||||
Entrada de Oro | Magee Road and Oracle Road, Tucson | Wal-Mart Neighborhood Market + | 100.00 | % | 88,665 | 0 | 20,406 | 109,071 | ||||||||||
Madera Village | Tanque Verde Rd. and Catalina Hwy, Tucson | Safeway +, Walgreen's, Dollar Tree | 100.00 | % | 96,732 | 0 | 10,594 | 107,326 | ||||||||||
Oracle Crossings | Oracle Highway and Magee Road, Tucson | Kohl's, Sprouts Farmers Market + | 100.00 | % | 249,711 | 0 | 10,000 | 259,711 | ||||||||||
Oracle Wetmore | Wetmore Road and Oracle Highway, Tucson | Home Depot, PetSmart, Walgreens, Ultimate Electronics | 100.00 | % | 286,793 | 0 | 0 | 286,793 | ||||||||||
Shoppes at Bears Path | Tanque Verde Rd. and Bear Canyon Rd., Tucson | Osco Drug (O.B.O.), Carondelet Health Care Corp., Leslie Pools | 100.00 | % | 43,928 | 0 | 21,851 | 65,779 | ||||||||||
Arizona Total: | # of Properties: 22 | 2,222,903 | 0 | 1,048,070 | 3,270,973 | |||||||||||||
Arkansas | ||||||||||||||||||
Markham Square | W. Markham at John Barrow, Little Rock | Burlington Coat Factory | 100.00 | % | 126,904 | 0 | 0 | 126,904 | ||||||||||
Markham West | 11400 W. Markham, Little Rock | Office Depot, Michael’s, Academy, Bassett Furniture, Dollar Tree | 100.00 | % | 178,210 | 0 | 0 | 178,210 | ||||||||||
Westgate | Cantrell at Bryant, Little Rock | SteinMart | 100.00 | % | 52,626 | 0 | 0 | 52,626 | ||||||||||
Arkansas Total: | # of Properties: 3 | 357,740 | 0 | 0 | 357,740 | |||||||||||||
California | ||||||||||||||||||
Jess Ranch Marketplace | Bear Valley Road at Jess Ranch Parkway, Apple Valley | Winco Foods + (O.B.O.), Mervyn's, Petsmart, Rite-Aid, Big 5 | 50.00 | % | (1)(3) | 106,633 | 106,633 | 93,696 | 306,962 | |||||||||
Centerwood Plaza | Lakewood Blvd. at Alondra Dr., Bellflower | Bestway Supermarket +, Buck-A-Roos | 100.00 | % | 75,500 | 0 | 0 | 75,500 | ||||||||||
Southampton Center | IH-780 at Southampton Rd., Benecia | Raley’s +, Ace Hardware, Hollywood Video | 100.00 | % | 162,390 | 0 | 0 | 162,390 | ||||||||||
580 Market Place | E. Castro Valley at Hwy. I-580, Castro Valley | P. W. Supermarkets +, Petco, 24 Hour Fitness | 100.00 | % | 100,165 | 0 | 0 | 100,165 | ||||||||||
Chino Hills Marketplace | Chino Hills Pkwy. at Pipeline Ave., Chino Hills | Rite Aid, Von’s +, 24 Hour Fitness, Dollar Tree, Ace Hardware | 100.00 | % | 308,420 | 0 | 0 | 308,420 | ||||||||||
Buena Vista Marketplace | Huntington Dr. at Buena Vista St., Duarte | Ralph's + | 100.00 | % | 90,805 | 0 | 0 | 90,805 | ||||||||||
El Camino Promenade | El Camino Real at Via Molena, Encinitas | T.J. Maxx, Beverages & More, Staples, Golf Galaxy, Dollar Tree | 100.00 | % | 129,753 | 0 | 0 | 129,753 | ||||||||||
Fremont Gateway Plaza | Paseo Padre Pkwy. at Walnut Ave., Fremont | Raley’s +, NAZ Cinema, 24 Hour Fitness | 100.00 | % | 194,601 | 0 | 0 | 194,601 | ||||||||||
Hallmark Town Center | W. Cleveland Ave. at Stephanie Ln., Madera | Food 4 Less + , Bally Total Fitness | 100.00 | % | 85,066 | 0 | 0 | 85,066 | ||||||||||
Menifee Town Center | Antelope Rd. at Newport Rd., Menifee | Ralph's +, Ross Dress for Less | 100.00 | % | 124,494 | 0 | 124,303 | 248,797 | ||||||||||
Marshalls Plaza | McHenry at Sylvan Ave., Modesto | Marshall’s, Dress Barn, Guitar Center | 100.00 | % | 78,752 | 0 | 0 | 78,752 | ||||||||||
Prospectors Plaza | Missouri Flat Rd. at US Hwy. 50, Placerville | SaveMart +, Kmart, Long’s Drug Store | 100.00 | % | 228,345 | 0 | 0 | 228,345 |
Page 27
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Property Listing at September 30, 2009 | ||||||||||||||||||
Gross Leasable Area | ||||||||||||||||||
Joint | ||||||||||||||||||
Center | Location | Anchors | WRI | Foot | WRI | Venture | Owned by | |||||||||||
Owned % | Notes | Owned | Share | Other | Total | |||||||||||||
Shasta Crossroads | Churn Creek Rd. at Dana Dr., Redding | Food Maxx +, Target (O.B.O.), Sports Authority (O.B.O.), Ashley Furniture (O.B.O.) | 100.00 | % | 121,334 | 0 | 131,468 | 252,802 | ||||||||||
Arcade Square | Watt Ave. at Whitney Ave., Sacramento | Grocery Outlet +, Lifestyle Furniture | 100.00 | % | 76,497 | 0 | 0 | 76,497 | ||||||||||
Discovery Plaza | W. El Camino Ave. at Truxel Rd., Sacramento | Bel Air Market +, Blockbuster | 100.00 | % | 93,398 | 0 | 0 | 93,398 | ||||||||||
Summerhill Plaza | Antelope Rd. at Lichen Dr., Sacramento | Raley’s + | 100.00 | % | 133,614 | 0 | 0 | 133,614 | ||||||||||
Valley | Franklin Boulevard and Mack Road, Sacramento | Raley's + | 100.00 | % | 98,240 | 0 | 0 | 98,240 | ||||||||||
Silver Creek Plaza | E. Capital Expressway at Silver Creek Blvd., San Jose | Safeway +, Walgreen’s, Orchard Supply (O.B.O.) | 100.00 | % | 134,179 | 0 | 65,000 | 199,179 | ||||||||||
Tully Corners Shopping Center | Tully Rd at Quimby Rd, San Jose | Food Maxx +, Petco | 10.00 | % | (1)(3) | 11,599 | 104,393 | 0 | 115,992 | |||||||||
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 | 100.00 | % | 152,095 | 0 | 86,569 | 238,664 | ||||||||||
Rancho San Marcos Village | San Marcos Blvd. at Rancho Santa Fe Rd., San Marcos | Von’s +, 24 Hour Fitness | 100.00 | % | 120,829 | 0 | 0 | 120,829 | ||||||||||
San Marcos Plaza | San Marcos Blvd. at Rancho Santa Fe Rd., San Marcos | Albertsons + (O.B.O.) | 100.00 | % | 35,880 | 0 | 45,206 | 81,086 | ||||||||||
Stony Point Plaza | Stony Point Rd. at Hwy. 12, Santa Rosa | Food Maxx + | 100.00 | % | 198,528 | 0 | 0 | 198,528 | ||||||||||
Sunset Center | Sunset Ave. at State Hwy. 12, Suisun City | Rite Aid | 100.00 | % | 85,238 | 0 | 0 | 85,238 | ||||||||||
Creekside Center | Alamo Dr. at Nut Creek Rd., Vacaville | Raley’s +, Blockbuster | 100.00 | % | 116,229 | 0 | 0 | 116,229 | ||||||||||
Freedom Centre | Freedom Blvd. At Airport Blvd., Watsonville | Rite Aid, Big Lots, Safeway +, Ace Hardware | 100.00 | % | 150,241 | 0 | 0 | 150,241 | ||||||||||
Westminster Center | Westminster Blvd. at Golden West St., Westminster | Albertsons +, Home Depot, Edward’s Cinema, Rite Aid, Petco, Ross Dress for Less | 100.00 | % | 417,820 | 0 | 0 | 417,820 | ||||||||||
California Total: | # of Properties: 27 | 3,630,645 | 211,026 | 546,242 | 4,387,913 | |||||||||||||
Colorado | ||||||||||||||||||
Aurora City Place | E. Alameda at I225, Aurora | PetsMart, Barnes & Noble, Ross Dress For Less, Super Target + (O.B.O.) | 50.00 | % | (1)(3) | 182,642 | 182,642 | 182,000 | 547,283 | |||||||||
Academy Place | Academy Blvd. at Union Blvd., Colorado Springs | Safeway + (O.B.O.), Ross Dress For Less, Target (O.B.O.) | 100.00 | % | 84,057 | 0 | 206,586 | 290,643 | ||||||||||
Uintah Gardens | NEC 19th St. at West Uintah, Colorado Springs | King Sooper’s +, Walgreens, Petco, Big 5 Sporting Goods | 100.00 | % | 212,638 | 0 | 0 | 212,638 | ||||||||||
Green Valley Ranch Towne Center | Tower Rd. at 48th Ave., Denver | King Sooper’s + (O.B.O.) | 50.00 | % | (1)(3) | 27,503 | 27,503 | 58,000 | 113,006 | |||||||||
Lowry Town Center | 2nd Ave. at Lowry Ave., Denver | Albertsons + (O.B.O.) | 50.00 | % | (1)(3) | 38,370 | 38,370 | 52,700 | 129,439 | |||||||||
CityCenter Englewood | S. Santa Fe at Hampden Ave., Englewood | Wal-Mart (O.B.O.), Ross Dress for Less, The Sports Authority, Office Depot, Bally Total Fitness, Petco | 51.00 | % | (1)(3) | 137,346 | 131,960 | 90,000 | 359,305 | |||||||||
Crossing at Stonegate | Jordon Rd. at Lincoln Ave., Parker | King Sooper’s + | 51.00 | % | (1)(3) | 55,620 | 53,438 | 0 | 109,058 | |||||||||
Thorncreek Crossing | Washington St. at 120th St., Thornton | Super Target + (O.B.O.), Barnes & Noble, Office Max, Michael’s, Dollar Tree, Cost Plus | 51.00 | % | (1)(3) | 108,186 | 103,944 | 174,000 | 386,130 | |||||||||
Westminster Plaza | North Federal Blvd. at 72nd Ave., Westminster | Safeway +, Walgreens (O.B.O.) | 50.00 | % | (1) | 48,521 | 48,521 | 14,100 | 111,142 | |||||||||
Colorado Total: | # of Properties: 9 | 894,883 | 586,378 | 777,386 | 2,258,644 | |||||||||||||
Florida | ||||||||||||||||||
Boca Lyons | Glades Rd. at Lyons Rd., Boca Raton | Ross Dress for Less, Ethan Allen | 100.00 | % | 113,689 | 0 | 0 | 113,689 | ||||||||||
Countryside Centre | US Highway 19 at Countryside Boulevard | Publix +, T.J. Maxx, Home Goods | 100.00 | % | 242,123 | 0 | 0 | 242,123 | ||||||||||
Sunset 19 | US Hwy. 19 at Sunset Pointe Rd., Clearwater | Publix +, Bed Bath & Beyond, Staples, Comp USA, Barnes & Noble, Sports Authority, Old Navy | 100.00 | % | 275,910 | 0 | 0 | 275,910 | ||||||||||
Embassy Lakes | Sheraton St. at Hiatus Rd., Cooper City | Winn Dixie +, Walgreen’s, Tuesday Morning | 100.00 | % | 131,719 | 0 | 48,214 | 179,933 | ||||||||||
Paradise Key at Kelly Plantation | US Highway 98 and Mid Bay Bridge Rd, Destin | Publix +, Bed Bath & Beyond, Ross, Old Navy, SteinMart | 10.00 | % | (1)(3) | 27,178 | 244,599 | 0 | 271,777 | |||||||||
Shoppes at Paradise Isle | 34940 Emerald Coast Pkwy, Destin | Best Buy, Michaels, Office Depot, PetsMart | 25.00 | % | (1)(3) | 42,918 | 128,752 | 0 | 171,670 | |||||||||
Hollywood Hills Plaza | Hollywood Blvd. at North Park Rd., Hollywood | Publix +, Target, CVS/pharmacy | 100.00 | % | 364,714 | 0 | 0 | 364,714 | ||||||||||
Indian Harbour Place | East Eau Gallie Boulevard, Indian Harbour Beach | Beall's, Publix + | 25.00 | % | (1)(3) | 40,880 | 122,641 | 0 | 163,521 | |||||||||
Argyle Village | Blanding at Argyle Forest Blvd., Jacksonville | Bed Bath & Beyond, Publix +, T.J. Maxx, Babies “R” Us, Jo-Ann’s Fabrics, Michael's | 100.00 | % | 312,447 | 0 | 0 | 312,447 | ||||||||||
TJ Maxx Plaza | 117th Avenue at Sunset Blvd., Kendall | T.J. Maxx, Winn Dixie + | 100.00 | % | 161,572 | 0 | 0 | 161,572 | ||||||||||
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.) | 100.00 | % | 377,719 | 0 | 197,631 | 575,350 |
Page 28
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Property Listing at September 30, 2009 | ||||||||||||||||||
Gross Leasable Area | ||||||||||||||||||
Joint | ||||||||||||||||||
Center | Location | Anchors | WRI | Foot | WRI | Venture | Owned by | |||||||||||
Owned % | Notes | Owned | Share | Other | Total | |||||||||||||
Palm Lakes Plaza | Atlantic Boulevard and Rock Island Road, Maragate | Publix +, CVS/pharmacy | 20.00 | % | (1)(3) | 22,750 | 91,002 | 0 | 113,752 | |||||||||
Lake Washington Crossing | Wickham Rd. at Lake Washington Rd., Melbourne | Publix + | 25.00 | % | (1)(3) | 29,707 | 89,121 | 0 | 118,828 | |||||||||
Lake Washington Square | Wickham Rd. at Lake Washington Rd., Melbourne | Albertsons +, Tuesday Morning | 100.00 | % | 111,811 | 0 | 0 | 111,811 | ||||||||||
Kendall Corners | Kendall Drive and SW 127th Avenue, Miami | Ashley Furniture | 20.00 | % | (1)(3) | 19,303 | 77,212 | 0 | 96,515 | |||||||||
South Dade | South Dixie Highway and Eureka Drive, Miami | Publix +, Petco, Chuck E. Cheese, Bed Bath & Beyond | 20.00 | % | (1)(3) | 43,895 | 175,578 | 0 | 219,473 | |||||||||
Tamiami Trail Shops | S.W. 8th St. at S.W. 137th Ave., Miami | Publix +, CVS/pharmacy | 100.00 | % | 110,867 | 0 | 0 | 110,867 | ||||||||||
Northridge | E. Commercial Blvd. at Dixie Hwy., Oakland Park | Publix +, Petco, Ross Dress for Less, Anna's Linens, Bally Total Fitness | 100.00 | % | 236,170 | 0 | 0 | 236,170 | ||||||||||
Colonial Landing | East Colonial Dr. at Maguire Boulevard, Orlando | Bed Bath & Beyond, PetsMart, Jo Ann Fabrics, Sports Authority, HH Gregg | 50.00 | % | (1) | 131,634 | 131,634 | 0 | 263,267 | |||||||||
Colonial Plaza | E. Colonial Dr. at Primrose Dr., Orlando | Staples, Ross Dress for Less, Babies “R” Us, Marshall’s, Old Navy, SteinMart, Barnes & Noble, Petco, Big Lots, Hobby Lobby | 100.00 | % | 496,751 | 0 | 0 | 496,751 | ||||||||||
International Drive Value Center | International Drive and Touchstone Drive, Orlando | Bed Bath & Beyond, Ross Dress for Less, T.J. Maxx | 20.00 | % | (1)(3) | 37,133 | 148,531 | 0 | 185,664 | |||||||||
Market at Southside | Michigan Ave. at Delaney Ave., Orlando | Ross Dress for Less, Beall’s Outlet Stores, Dollar Tree, Albertsons + (O.B.O.) | 100.00 | % | 95,208 | 0 | 64,627 | 159,835 | ||||||||||
Phillips Crossing | Interstate 4 and Sand Lake Road, Orlando | Whole Foods +, Golf Galaxy, Michael's | 100.00 | % | 145,704 | 0 | 0 | 145,704 | ||||||||||
Phillips Landing | Turkey Lake Rd., Orlando | Wal-Mart (O.B.O.) | 100.00 | % | 66,223 | 0 | 219,815 | 286,038 | ||||||||||
The Marketplace at Dr. Phillips | Dr. Phillips Boulevard and Sand Lake Road, Orlando | Publix +, Stein Mart, Office Depot, Home Goods, Morton's of Chicago | 20.00 | % | (1)(3) | 65,250 | 261,000 | 0 | 326,250 | |||||||||
The Shoppes at South Semoran | Semoran Blvd. at Pershing Ave. | Save Rite + | 100.00 | % | 101,535 | 0 | 0 | 101,535 | ||||||||||
Westland Terrace Plaza | SR 50 at Apopka Vineland Rd., Orlando | T.J. Maxx, Petco, Shoe Carnival, Super Target + (O.B.O.) | 100.00 | % | 77,521 | 0 | 183,000 | 260,521 | ||||||||||
Alafaya Square | Alafaya Trail, Oviedo | Publix + | 20.00 | % | (1)(3) | 35,297 | 141,189 | 0 | 176,486 | |||||||||
University Palms | Alafaya Trail at McCullough Rd., Oviedo | Publix +, Blockbuster | 30.00 | % | (1) | 29,752 | 69,420 | 0 | 99,172 | |||||||||
Palm Coast Center | State Road 100 & Belle Terre Parkway, Palm Coast | Super Target (O.B.O.) +, PetsMart, T.J. Maxx, Ross Dress for Less, Michaels, Books-A-Million | 50.00 | % | (1)(3) | 83,435 | 83,435 | 179,476 | 346,346 | |||||||||
East Lake Woodlands | East Lake Road and Tampa Road, Palm Harbor | Publix +, Walgreens | 20.00 | % | (1)(3) | 28,021 | 112,082 | 0 | 140,103 | |||||||||
Shoppes at Parkland | Hillsboro Boulevard at State Road #7, Parkland | BJ's Wholesale Club + | 30.00 | % | (1) | 43,696 | 101,956 | 0 | 145,652 | |||||||||
Flamingo Pines | Pines Blvd. at Flamingo Rd., Pembroke Pines | Publix +, U.S. Post Office, Keiser College | 100.00 | % | 257,370 | 0 | 105,350 | 362,720 | ||||||||||
Pembroke Commons | University at Pines Blvd., Pembroke Pines | Publix +, Marshall’s, Office Depot, LA Fitness | 100.00 | % | 303,805 | 0 | 0 | 303,805 | ||||||||||
Publix at Laguna Isles | Sheridan St. at SW 196th Ave., Pembroke Pines | Publix + | 100.00 | % | 69,475 | 0 | 0 | 69,475 | ||||||||||
Vizcaya Square | Nob Hill Rd. at Cleary Blvd., Plantation | Winn Dixie +, Blockbuster | 100.00 | % | 112,410 | 0 | 0 | 112,410 | ||||||||||
Quesada Commons | Quesada Avenue and Toledo Blade Boulevard, Port Charlotte | Publix + | 25.00 | % | (1)(3) | 14,722 | 44,168 | 0 | 58,890 | |||||||||
Shoppes of Port Charlotte | Toledo Blade Boulevard and Tamiami Trail, Port Charlotte | Chick-Fil-A | 25.00 | % | (1)(3) | 980 | 2,941 | 0 | 3,921 | |||||||||
Shoppes of Port Charlotte | Toledo Blade Boulevard and Tamiami Trail, Port Charlotte | Petco | 25.00 | % | (1)(3) | 10,253 | 30,758 | 0 | 41,011 | |||||||||
Marketplace at Seminole Towne Center | Central Florida Greenway and Rinehart Road, Sanford | Sports Authority, DSW, Marshalls, Old Navy, Petco, Cost Plus, Super Target + (O.B.O.) | 100.00 | % | 312,261 | 0 | 185,000 | 497,261 | ||||||||||
Epic Village - St. Augustine | SR 207 at Rolling Hills Dr | Epic Theaters (O.B.O.) | 70.00 | % | (1) | 6,943 | 2,975 | 53,625 | 53,625 | |||||||||
Pineapple Commons | Us Highway 1 and Britt Rd., Stuart | Best Buy, Ross Dress for Less, PetsMart, Ashley Furniture | 20.00 | % | (1)(3) | 49,803 | 199,211 | 0 | 249,014 | |||||||||
Sunrise West Shopping Center | West Commercial Drive and NW 91st Avenue, Sunrise | Publix + | 25.00 | % | (1)(3) | 19,080 | 57,241 | 0 | 76,321 | |||||||||
Venice Pines | Center Rd. at Jacaranda Blvd., Venice | Sweet Bay + | 100.00 | % | 97,303 | 0 | 0 | 97,303 | ||||||||||
Winter Park Corners | Aloma Ave. at Lakemont Ave., Winter Park | Whole Foods Market +, Outback Steakhouse | 100.00 | % | 102,397 | 0 | 0 | 102,397 | ||||||||||
Florida Total: | # of Properties: 44 | 5,459,334 | 2,315,446 | 1,236,738 | 9,001,599 | |||||||||||||
Georgia | ||||||||||||||||||
Lakeside Marketplace | Cobb Parkway (US Hwy 41), Acworth | Ross Dress for Less, Petco, Office Max, Books-A-Million, Super Target + (O.B.O.) | 100.00 | % | 147,688 | 0 | 174,000 | 321,688 | ||||||||||
Mansell Crossing | North Point Parkway at Mansell Rd | Ross Dress for Less, Bed Bath & Beyond, Rooms to Go | 20.00 | % | (1)(3) | 20,586 | 82,345 | 0 | 102,931 | |||||||||
Camp Creek Marketplace II | Camp Creek Parkway and Carmla Drive, Atlanta | DSW, American Signature, LA Fitness | 100.00 | % | 196,283 | 0 | 0 | 196,283 |
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Gross Leasable Area | ||||||||||||||||||
Joint | ||||||||||||||||||
Center | Location | Anchors | WRI | Foot | WRI | Venture | Owned by | |||||||||||
Owned % | Notes | Owned | Share | Other | Total | |||||||||||||
Cherokee Plaza | Peachtree Road and Colonial Drive, Atlanta | Kroger + | 30.00 | % | (1) | 29,925 | 69,824 | 0 | 99,749 | |||||||||
Perimeter Village | Ashford-Dunwoody Rd | Wal-Mart Supercenter +, Cost Plus World Market, DSW, Borders, Hobby Lobby | 100.00 | % | 387,755 | 0 | 0 | 387,755 | ||||||||||
Publix at Princeton Lakes | Carmia Drive and Camp Creek Drive, Atlanta | Publix +, Wachovia (O.B.O.) | 100.00 | % | 68,407 | 0 | 0 | 68,407 | ||||||||||
Brookwood Square | East-West Connector at Austell Rd., Austell | Marshall’s, Staples, Home Depot | 100.00 | % | 253,448 | 0 | 0 | 253,448 | ||||||||||
Dallas Commons | US Highway 278 and Nathan Dean Boulevard, Dallas | Kroger + (O.B.O.) | 100.00 | % | 25,158 | 0 | 70,104 | 95,262 | ||||||||||
Reynolds Crossing | Steve Reynolds and Old North Cross Rd., Duluth | Kroger + (O.B.O.) | 100.00 | % | 45,758 | 0 | 70,225 | 115,983 | ||||||||||
Thompson Bridge Commons | Thompson Bridge Rd. at Mt. Vernon Rd., Gainesville | Kroger + | 30.00 | % | (1) | 27,776 | 64,811 | 0 | 92,587 | |||||||||
Grayson Commons | Grayson Hwy at Rosebud Rd., Grayson | Kroger + | 100.00 | % | 76,611 | 0 | 0 | 76,611 | ||||||||||
Sandy Plains Exchange | Sandy Plains at Scufflegrit, Marietta | Publix + | 30.00 | % | (1) | 21,835 | 50,949 | 0 | 72,784 | |||||||||
Brownsville Commons | Brownsville Road and Hiram-Lithia Springs Road, Powder Springs | Kroger + (O.B.O.) | 100.00 | % | 27,747 | 0 | 54,139 | 81,886 | ||||||||||
Roswell Corners | Woodstock Rd. at Hardscrabble Rd., Roswell | Staples, T.J. Maxx, Super Target + (O.B.O.) | 100.00 | % | 144,964 | 0 | 173,535 | 318,499 | ||||||||||
Brookwood Marketplace | Peachtree Parkway at Mathis Airport Rd., Suwannee | Office Max, Home Depot, Bed Bath & Beyond, Super Target + (O.B.O.) | 100.00 | % | 199,594 | 0 | 174,000 | 373,594 | ||||||||||
Georgia Total: | # of Properties: 15 | 1,673,535 | 267,929 | 716,003 | 2,657,467 | |||||||||||||
Illinois | ||||||||||||||||||
Burbank Station | S. Cicero Ave. at W. 78th St. | Babies "R" Us, Food For Less +, AJ Wright, Office Max, The Sports Authority, Petsmart | 100.00 | % | 303,566 | 0 | 0 | 303,566 | ||||||||||
Illinois Total: | # of Properties: 1 | 303,566 | 0 | 0 | 303,566 | |||||||||||||
Kansas | ||||||||||||||||||
Shawnee Village | Shawnee Mission Pkwy. at Quivera Rd., Shawnee | Burlington Coat Factory | 100.00 | % | 135,139 | 0 | 0 | 135,139 | ||||||||||
Kohl's | Wanamaker Rd. at S.W. 17th St., Topeka | Barnes & Noble, Kohl’s Department Store | 100.00 | % | 115,716 | 0 | 0 | 115,716 | ||||||||||
Kansas Total: | # of Properties: 2 | 250,855 | 0 | 0 | 250,855 | |||||||||||||
Kentucky | ||||||||||||||||||
Millpond Center | Boston at Man O’War, Lexington | Kroger + | 100.00 | % | 124,567 | 0 | 27,000 | 151,567 | ||||||||||
Regency Shopping Centre | Nicholasville Rd.& West Lowry Lane, Lexington | TJ Maxx, Michael's, Kroger + (O.B.O) | 100.00 | % | 136,262 | 0 | 46,044 | 182,306 | ||||||||||
Tates Creek | Tates Creek at Man O’ War, Lexington | Kroger +, Rite Aid | 100.00 | % | 179,450 | 0 | 0 | 179,450 | ||||||||||
Festival at Jefferson Court | Outer Loop at Jefferson Blvd., Louisville | Kroger +, PetsMart (O.B.O.), Factory Card Outlet, AJ Wright (O.B.O.) | 100.00 | % | 168,986 | 0 | 49,410 | 218,396 | ||||||||||
Kentucky Total: | # of Properties: 4 | 609,265 | 0 | 122,454 | 731,719 | |||||||||||||
Louisiana | ||||||||||||||||||
Town & Country Plaza | U.S. Hwy. 190 West, Hammond | Winn Dixie +, Office Depot, CVS/pharmacy, Anna's Linens | 100.00 | % | 227,352 | 0 | 0 | 227,352 | ||||||||||
Manhattan Place | Manhattan Blvd. at Gretna Blvd., Harvey | Target (O.B.O.), Ross Dress for Less, Stage, K&G Fashion | 100.00 | % | 156,215 | 0 | 125,400 | 281,615 | ||||||||||
Ambassador Plaza | Ambassador Caffery at W. Congress, Lafayette | Albertsons + (O.B.O.), Blockbuster | 100.00 | % | 0 | 0 | 101,950 | 101,950 | ||||||||||
River Marketplace | Ambassador Caffery at Kaliste Saloom, Lafayette | Ross Dress for Less, Stage, Cost Plus, Super Target + (O.B.O.), Books-A-Million, Citi Trends | 7.80 | % | (1)(3) | 13,142 | 147,100 | 174,700 | 334,942 | |||||||||
Westwood Village | W. Congress at Bertrand, Lafayette | Stage | 100.00 | % | 141,346 | 0 | 0 | 141,346 | ||||||||||
14/Park Plaza | Hwy. 14 at General Doolittle, Lake Charles | Kroger +, Conn’s, Burke's Outlet, Anna's Linens, Family Dollar | 100.00 | % | 175,068 | 0 | 0 | 175,068 | ||||||||||
K-Mart Plaza | Ryan St., Lake Charles | Albertsons +, Kmart, Stage | 50.00 | % | (1)(3) | 107,974 | 107,974 | 0 | 215,948 | |||||||||
Prien Lake Plaza | Prien Lake Rd. at Nelson Rd., Lake Charles | Target (O.B.O.), Marshall’s (O.B.O.), Ross Dress for Less (O.B.O.), Bed Bath & Beyond (O.B.O.) | 100.00 | % | 8,243 | 0 | 205,375 | 213,618 | ||||||||||
Southgate | Ryan at Eddy, Lake Charles | Market Basket +, Office Depot, Books-A-Million | 100.00 | % | 170,588 | 0 | 0 | 170,588 | ||||||||||
Danville Plaza | Louisville at 19th, Monroe | County Market +, Citi Trends, Surplus Warehouse | 100.00 | % | 141,380 | 0 | 0 | 141,380 | ||||||||||
Orleans Station | Paris, Robert E. Lee at Chatham, New Orleans | Vacant | 100.00 | % | 0 | 0 | 0 | 0 | ||||||||||
University Place | 70th St. at Youree Dr., Shreveport | Super Target + (O.B.O.), Best Buy, T.J. Maxx, CVS/pharmacy (O.B.O), Bed Bath & Beyond | 20.40 | % | (1)(3) | 5,100 | 19,900 | 174,500 | 199,500 |
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Property Listing at September 30, 2009 | ||||||||||||||||||
Gross Leasable Area | ||||||||||||||||||
Joint | ||||||||||||||||||
Center | Location | Anchors | WRI | Foot | WRI | Venture | Owned by | |||||||||||
Owned % | Notes | Owned | Share | Other | Total | |||||||||||||
Louisiana Total: | # of Properties: 12 | 1,146,408 | 274,974 | 781,925 | 2,203,307 | |||||||||||||
Maine | ||||||||||||||||||
The Promenade | Essex at Summit, Lewiston | Staples, Flagship Cinemas | 75.00 | % | (1) | 153,776 | 51,258 | 0 | 205,034 | |||||||||
Maine Total: | # of Properties: 1 | 153,776 | 51,258 | 0 | 205,034 | |||||||||||||
Missouri | ||||||||||||||||||
Ballwin Plaza | Manchester Rd. at Vlasis Dr., Ballwin | Schnucks +, Michael’s, Sears | 100.00 | % | 200,915 | 0 | 0 | 200,915 | ||||||||||
Western Plaza | Hwy 141 at Hwy 30, Fenton | O'Reilly Automotive, Value Village | 50.00 | % | (1)(3) | 28,422 | 28,422 | 0 | 56,845 | |||||||||
Missouri Total: | # of Properties: 2 | 229,337 | 28,422 | 0 | 257,760 | |||||||||||||
Nevada | ||||||||||||||||||
Eastern Horizon | Eastern Ave. at Horizon Ridge Pkwy., Henderson | Kmart + (O.B.O.), Trader Joe's | 100.00 | % | 66,408 | 0 | 143,879 | 210,287 | ||||||||||
Best in the West | 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, The Sports Authority, Ulta, DSW | 100.00 | % | 428,629 | 0 | 0 | 428,629 | ||||||||||
Charleston Commons | Charleston and Nellis, Las Vegas | Wal-Mart +, Ross, Office Max, 99 Cents Only, PetsMart | 100.00 | % | 332,539 | 0 | 0 | 332,539 | ||||||||||
College Park S.C. | E. Lake Mead Blvd. at Civic Ctr. Dr., North Las Vegas | El Super +, Sav-On Drugs, Anna's Linens, Factory 2 U | 100.00 | % | 167,654 | 0 | 0 | 167,654 | ||||||||||
Francisco Centre | E. Desert Inn Rd. at S. Eastern Ave., Las Vegas | Ross Dress for Less (O.B.O.), Fallas Paredes , La Bonita Grocery + | 100.00 | % | 116,973 | 0 | 31,842 | 148,815 | ||||||||||
Mission Center | Flamingo Rd. at Maryland Pkwy, Las Vegas | Sav-On Drug-CVS (O.B.O.), Albertsons + (O.B.O.), Toys “R” Us, T.J. Maxx | 100.00 | % | 152,475 | 0 | 60,018 | 212,493 | ||||||||||
Paradise Marketplace | Flamingo Rd. at Sandhill, Las Vegas | Smith’s Food + (O.B.O.), Dollar Tree | 100.00 | % | 78,218 | 0 | 70,495 | 148,713 | ||||||||||
Rainbow Plaza | Rainbow Blvd. at Charleston Blvd., Las Vegas | Albertsons +, JC Penney, Ultimate Electronics, Home Depot, 24 Hour Fitness | 100.00 | % | 278,416 | 0 | 0 | 278,416 | ||||||||||
Rainbow Plaza, Phase I | Rainbow Blvd. at Charleston Blvd., Las Vegas | Albertsons +, JC Penney, Ultimate Electronics, Home Depot, 24 Hour Fitness | 100.00 | % | 136,369 | 0 | 0 | 136,369 | ||||||||||
Rancho Towne & Country | Rainbow Blvd. at Charleston Blvd., Las Vegas | Smith’s Food + | 100.00 | % | 87,367 | 0 | 0 | 87,367 | ||||||||||
Tropicana Beltway | 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, Pier 1 Imports | 100.00 | % | 246,527 | 0 | 394,271 | 640,798 | ||||||||||
Tropicana Marketplace | Tropicana at Jones Blvd., Las Vegas | Smith’s Food + (O.B.O.), Family Dollar | 100.00 | % | 71,460 | 0 | 73,168 | 144,628 | ||||||||||
Westland Fair North | Charleston Blvd. At Decatur Blvd., Las Vegas | Wal-Mart Supercenter + (O.B.O.), Lowe’s (O.B.O.), PetsMart, Office Depot, Michaels, Anna's Linens | 100.00 | % | 211,755 | 0 | 386,458 | 598,213 | ||||||||||
Nevada Total: | # of Properties: 12 | 2,374,790 | 0 | 1,160,131 | 3,534,921 | |||||||||||||
New Mexico | ||||||||||||||||||
Eastdale | Candelaria Rd. at Eubank Blvd., Albuquerque | Albertsons +, Family Dollar | 100.00 | % | 117,623 | 0 | 0 | 117,623 | ||||||||||
North Towne Plaza | Academy Rd. at Wyoming Blvd., Albuquerque | Whole Foods Market +, Borders | 100.00 | % | 108,059 | 0 | 0 | 108,059 | ||||||||||
Pavillions at San Mateo | I-40 at San Mateo, Albuquerque | Old Navy, Shoe Department, Skechers, Pima Medical Institute, Ultimate Electronics | 100.00 | % | 195,944 | 0 | 0 | 195,944 | ||||||||||
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.), Party City | 100.00 | % | 84,322 | 0 | 334,000 | 418,322 | ||||||||||
Wyoming Mall | Academy Rd. at Northeastern, Albuquerque | Wal-Mart Supercenter + (O.B.O.), Dollar Tree | 100.00 | % | 63,865 | 0 | 203,982 | 267,847 | ||||||||||
De Vargas | N. Guadalupe at Paseo de Peralta, Santa Fe | Albertsons + (O.B.O.), Sunflower Farmer's Market +, Sav-On (CVS), Ross Dress for Less, Office Depot, Hastings, United Artists | 100.00 | % | 248,137 | 0 | 67,750 | 315,887 | ||||||||||
New Mexico Total: | # of Properties: 6 | 817,950 | 0 | 605,732 | 1,423,682 | |||||||||||||
North Carolina | ||||||||||||||||||
Capital Square | Capital Blvd. at Huntleigh Dr., Cary | Food Lion + | 100.00 | % | 143,063 | 0 | 0 | 143,063 | ||||||||||
Harrison Pointe | Harrison Ave. at Maynard Rd., Cary | Harris Teeter +, Staples | 100.00 | % | 130,934 | 0 | 0 | 130,934 | ||||||||||
High House Crossing | NC Hwy 55 at Green Level W. Rd., Cary | Harris Teeter + | 100.00 | % | 89,997 | 0 | 0 | 89,997 | ||||||||||
Northwoods Market | Maynard Rd. at Harrison Ave., Cary | Food Lion + | 100.00 | % | 77,802 | 0 | 0 | 77,802 | ||||||||||
Parkway Pointe | Cory Parkway at S. R. 1011, Cary | Food Lion +, Rite-Aid | 100.00 | % | 80,061 | 0 | 0 | 80,061 | ||||||||||
Chatham Crossing | US 15/501 at Plaza Dr., Chapel Hill | Lowes Food +, CVS/pharmacy | 25.00 | % | (1)(3) | 24,039 | 72,116 | 0 | 96,155 | |||||||||
Cole Park Plaza | US 15/501 and Plaza Dr., Chapel Hill | Dollar General | 25.00 | % | (1)(3) | 20,564 | 61,694 | 0 | 82,258 | |||||||||
Galleria | Galleria Boulevard and Sardis Road, Charlotte | Off Broadway Shoes, Wal-Mart (O.B.O.) | 100.00 | % | 120,542 | 0 | 207,602 | 328,144 |
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Joint | ||||||||||||||||||
Center | Location | Anchors | WRI | Foot | WRI | Venture | Owned by | |||||||||||
Owned % | Notes | Owned | Share | Other | Total | |||||||||||||
Johnston Road Plaza | Johnston Rd. at McMullen Creek Pkwy., Charlotte | Food Lion+ | 100.00 | % | 79,508 | 0 | 0 | 79,508 | ||||||||||
Steele Creek Crossing | York Rd. at Steele Creek Rd., Charlotte | BI-LO +, Rite-Aid | 100.00 | % | 77,301 | 0 | 0 | 77,301 | ||||||||||
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.) | 100.00 | % | 41,876 | 0 | 402,620 | 444,496 | ||||||||||
Bull City Market | Broad St. at West Main St., Durham | Whole Foods Market + | 100.00 | % | 42,517 | 0 | 0 | 42,517 | ||||||||||
Mineral Springs Village | Mineral Springs Rd. at Wake Forest Rd., Durham | Food Lion +, Rite-Aid | 100.00 | % | 59,859 | 0 | 0 | 59,859 | ||||||||||
Ravenstone Commons | Hwy 98 at Sherron Rd., Durham | Food Lion +, Blockbuster | 100.00 | % | 60,424 | 0 | 0 | 60,424 | ||||||||||
Pinecrest Plaza | Hwy. 15-501 at Morganton Rd., Pinehurst | Food Lion +, Michael’s, Belk’s | 100.00 | % | 250,140 | 0 | 0 | 250,140 | ||||||||||
Avent Ferry | Avent Ferry Rd. at Gorman St., Raleigh | Food Lion +, Family Dollar | 100.00 | % | 111,650 | 0 | 0 | 111,650 | ||||||||||
Falls Pointe | Neuce Rd. at Durant Rd., Raleigh | Harris Teeter +, Kohl’s (O.B.O.) | 100.00 | % | 106,981 | 0 | 86,350 | 193,331 | ||||||||||
Leesville Town Centre | Leesville Rd. at Leesville Church Rd., Raleigh | Harris Teeter +, Rite-Aid | 100.00 | % | 114,396 | 0 | 0 | 114,396 | ||||||||||
Little Brier Creek | Little Brier Creek Lane and Brier Leaf Lane, Raleigh | Lowe's Food + (O.B.O.) | 100.00 | % | 17,209 | 0 | 45,802 | 63,011 | ||||||||||
Lynnwood Collection | Creedmoor Rd at Lynn Road, Raleigh | Kroger + | 100.00 | % | 87,362 | 0 | 0 | 87,362 | ||||||||||
Six Forks Station | Six Forks Rd. at Strickland Rd., Raleigh | Kmart, Home Depot, Food Lion +, Bed Bath & Beyond, Borders | 100.00 | % | 467,270 | 0 | 0 | 467,270 | ||||||||||
Stonehenge Market | Creedmoor Rd. at Bridgeport Dr., Raleigh | Harris Teeter +, SteinMart | 100.00 | % | 188,521 | 0 | 0 | 188,521 | ||||||||||
Heritage Station | Forestville Rd. at Rogers Rd., Wake Forest | Harris Teeter + | 30.00 | % | (1) | 20,633 | 48,145 | 0 | 68,778 | |||||||||
North Carolina Total: | # of Properties: 23 | 2,412,649 | 181,955 | 742,374 | 3,336,978 | |||||||||||||
Oklahoma | ||||||||||||||||||
Market Boulevard | E. Reno Ave. at N. Douglas Ave., Midwest City | Color Tyme | 100.00 | % | 35,765 | 0 | 0 | 35,765 | ||||||||||
Town and Country | Reno Ave at North Air Depot, Midwest City | Office Depot, Big Lots, Westlake Hardware | 100.00 | % | 127,362 | 0 | 0 | 127,362 | ||||||||||
Oklahoma Total: | # of Properties: 2 | 163,127 | 0 | 0 | 163,127 | |||||||||||||
Oregon | ||||||||||||||||||
Clackamas Square | SE 82nd Avenue and SE Causey Avenue, Portland | T.J. Maxx, Winco Foods + (O.B.O.) | 20.00 | % | (1)(3) | 14,828 | 59,311 | 62,600 | 136,739 | |||||||||
Oak Grove Market Center | SE Mcloughlin Blvd & Oak Grove Ave | Safeway + | 100.00 | % | 97,207 | 0 | 0 | 97,207 | ||||||||||
Raleigh Hills Plaza | SW Beaverton-Hillsdale Hwy and SW Scholls Ferry Road, Portland | Walgreens, New Seasons Market + | 20.00 | % | (1)(3) | 7,904 | 31,616 | 0 | 39,520 | |||||||||
Oregon Total: | # of Properties: 3 | 119,939 | 90,927 | 62,600 | 273,466 | |||||||||||||
South Carolina | ||||||||||||||||||
Fresh Market Shoppes | 890 William Hilton Head Pkwy, Hilton Head | The Fresh Market + | 25.00 | % | (1)(3) | 21,530 | 64,590 | 0 | 86,120 | |||||||||
South Carolina Total: | # of Properties: 1 | 21,530 | 64,590 | 0 | 86,120 | |||||||||||||
Tennessee | ||||||||||||||||||
Bartlett Towne Center | Bartlett Blvd. at Stage Rd., Bartlett | Kroger +, Petco, Dollar Tree, Shoe Carnival | 100.00 | % | 179,364 | 0 | 0 | 179,364 | ||||||||||
Commons at Dexter Lake | Dexter at N. Germantown, Memphis | Kroger +, SteinMart, Marshall’s, Samuels Furniture and Interior | 30.00 | % | (1) | 50,087 | 116,871 | 0 | 166,958 | |||||||||
Commons at Dexter Lake Phase II | Dexter at N. Germantown, Memphis | Kroger +, SteinMart, Marshall’s, Samuels Furniture and Interior | 30.00 | % | (1) | 18,461 | 43,077 | 0 | 61,538 | |||||||||
Highland Square | Summer at Highland, Memphis | Walgreen’s | 100.00 | % | 14,490 | 0 | 0 | 14,490 | ||||||||||
Mendenhall Commons | South Mendenahall Rd. and Sanderlin Avenue, Memphis | Kroger + | 30.00 | % | (1) | 23,961 | 55,910 | 0 | 79,871 | |||||||||
Summer Center | Summer Ave. at Waring Rd., Memphis | Kroger +, Ross Dress for Less | 100.00 | % | 137,462 | 0 | 0 | 137,462 | ||||||||||
Tennessee Total: | # of Properties: 5 | 423,825 | 215,858 | 0 | 639,683 | |||||||||||||
Texas | ||||||||||||||||||
Bell Plaza | 45th Ave. at Bell St., Amarillo | United Supermarket +, Dollar Tree | 15.00 | % | (1) | 19,579 | 110,950 | 0 | 130,529 | |||||||||
Coronado | 34th St. at Wimberly Dr., Amarillo | Blockbuster | 100.00 | % | 48,149 | 0 | 0 | 48,149 | ||||||||||
Wolflin Village | Wolflin Ave. at Georgia St., Amarillo | Office Depot, Sheplers Western Wear, Talbots | 100.00 | % | 159,243 | 0 | 0 | 159,243 | ||||||||||
Calder | Calder at 24th St., Beaumont | Harmony Science Academy | 100.00 | % | 34,641 | 0 | 0 | 34,641 | ||||||||||
North Park Plaza | Eastex Fwy. at Dowlen, Beaumont | Target (O.B.O.), Anna’s Linens, David’s Bridal, Toys “R” Us (O.B.O.) | 50.00 | % | (1)(3) | 70,036 | 70,036 | 141,329 | 281,401 |
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Joint | ||||||||||||||||||
Center | Location | Anchors | WRI | Foot | WRI | Venture | Owned by | |||||||||||
Owned % | Notes | Owned | Share | Other | Total | |||||||||||||
Phelan | Phelan at 23rd St, Beaumont | Kroger + (O.B.O.) | 100.00 | % | 12,000 | 0 | 0 | 12,000 | ||||||||||
Phelan West | Phelan at 23rd St., Beaumont | Kroger + (O.B.O.) | 66.70 | % | (1)(3) | 15,552 | 7,779 | 58,890 | 82,221 | |||||||||
Southgate | Calder Ave. at 6th St., Beaumont | Control Fluids | 100.00 | % | 33,555 | 0 | 0 | 33,555 | ||||||||||
Gateway Station | I-35W and McAlister Rd., Burleson | Conn's | 70.00 | % | (1) | 27,272 | 11,688 | 0 | 38,960 | |||||||||
Lone Star Pavilions | Texas at Lincoln Ave., College Station | Best Buy, Office Depot, Barnes & Noble | 100.00 | % | 106,907 | 0 | 0 | 106,907 | ||||||||||
Montgomery Plaza | Loop 336 West at I-45, Conroe | Academy, Conn’s, 99 Cents Only, Petco, Anna's Linens, Spec's | 100.00 | % | 305,671 | 0 | 0 | 305,671 | ||||||||||
Moore Plaza | S. Padre Island Dr. at Staples, Corpus Christi | Office Depot, Marshall’s, H. E. B. +, (O.B.O.), Target (O.B.O.), Old Navy, Hobby Lobby, Steinmart | 100.00 | % | 371,668 | 0 | 161,909 | 533,577 | ||||||||||
Portairs | Ayers St. at Horne Rd., Corpus Christi | CVS/pharmacy, Family Dollar, Beall’s | 100.00 | % | 118,233 | 0 | 0 | 118,233 | ||||||||||
Horne Street Market | I-30 & Horne Street, Fort Worth | 24 Hour Fitness | 100.00 | % | 42,267 | 0 | 0 | 42,267 | ||||||||||
Overton Park Plaza | SW Loop 820/Interstate 20 at South Hulen St., Ft. Worth | Sports Authority, PetsMart, Office Depot, T.J. Maxx, Albertson's +, Home Depot (O.B.O.), Anna’s Linens | 100.00 | % | 353,302 | 0 | 110,000 | 463,302 | ||||||||||
Broadway | Broadway at 59th St., Galveston | Big Lots, Family Dollar | 15.00 | % | (1) | 11,322 | 64,155 | 0 | 75,477 | |||||||||
Food King Place | 25th St. at Avenue P, Galveston | Vacant | 100.00 | % | 28,062 | 0 | 0 | 28,062 | ||||||||||
Galveston Place | Central City Blvd. at 61st St., Galveston | Randall’s +, Office Depot, Spec's Liquor, Palais Royal | 100.00 | % | 210,187 | 0 | 0 | 210,187 | ||||||||||
10/Federal | I-10 at Federal | Citi Trends, Palais Royal, Sellers Bros. + | 15.00 | % | (1) | 19,871 | 112,601 | 0 | 132,472 | |||||||||
Alabama-Shepherd | S. Shepherd at W. Alabama | Bookstop, PetsMart | 100.00 | % | 56,110 | 0 | 0 | 56,110 | ||||||||||
Bayshore Plaza | Spencer Hwy. at Burke Rd. | Fitness Connections (O.B.O.) | 100.00 | % | 35,434 | 0 | 86,000 | 121,434 | ||||||||||
Bellaire Boulevard | Bellaire at S. Rice | Randall’s + | 30.00 | % | (1) | 10,524 | 24,557 | 0 | 35,081 | |||||||||
Braeswood Square | N. Braeswood at Chimney Rock | Belden’s +, Walgreen’s | 100.00 | % | 103,336 | 0 | 0 | 103,336 | ||||||||||
Centre at Post Oak | Westheimer at Post Oak Blvd. | Marshall’s, Barnes & Noble, Old Navy, Grand Lux Café, Nordstrom Rack | 100.00 | % | 182,070 | 0 | 0 | 182,070 | ||||||||||
Champions Village | F.M. 1960 at Champions Forest Dr. | Randall’s +, SteinMart, Palais Royal, Cost Plus, Barnes & Noble | 30.00 | % | (1) | 115,374 | 269,207 | 0 | 384,581 | |||||||||
Cullen Center | Cullen at Reed | Beauty Supply | 100.00 | % | 7,316 | 0 | 0 | 7,316 | ||||||||||
Cullen Plaza | Cullen at Wilmington | Fiesta +, JPMorgan Chase Bank, Family Dollar | 15.00 | % | (1) | 12,678 | 71,839 | 0 | 84,517 | |||||||||
Cypress Pointe | F.M. 1960 at Cypress Station | Kroger +, Office Depot, Babies “R” Us, America's Furniture Brands (O.B.O.) | 100.00 | % | 190,704 | 0 | 96,660 | 287,364 | ||||||||||
Eastpark | Mesa Rd. at Tidwell | Jack in the Box, CVS/pharmacy (O.B.O.), US Postal Service (O.B.O.) | 100.00 | % | 1,576 | 0 | 0 | 1,576 | ||||||||||
Edgebrook | Edgebrook at Gulf Fwy. | Fiesta +, JPMorgan Chase Bank, Family Dollar | 15.00 | % | (1) | 11,769 | 66,691 | 0 | 78,460 | |||||||||
Fiesta Village | Quitman at Fulton | Fiesta + | 15.00 | % | (1) | 4,537 | 25,712 | 0 | 30,249 | |||||||||
Fondren/West Airport | Fondren at W. Airport | Save-A-Lot + | 100.00 | % | 37,117 | 0 | 0 | 37,117 | ||||||||||
Glenbrook Square | Telephone Road | Kroger +, Blockbuster | 15.00 | % | (1) | 11,684 | 66,206 | 0 | 77,890 | |||||||||
Griggs Road | Griggs at Cullen | Family Dollar, Citi Trends | 15.00 | % | (1) | 12,017 | 68,099 | 0 | 80,116 | |||||||||
Harrisburg Plaza | Harrisburg at Wayside | Fallas Paredes | 15.00 | % | (1) | 14,016 | 79,422 | 0 | 93,438 | |||||||||
Heights Plaza | 20th St. at Yale | Kroger +, Walgreen’s | 100.00 | % | 71,777 | 0 | 0 | 71,777 | ||||||||||
Humblewood Shopping Plaza | Eastex Fwy. at F.M. 1960 | Kroger +,Conn’s, Walgreen’s, Michael's (O.B.O.), DSW (O.B.O.) | 100.00 | % | 176,446 | 0 | 99,000 | 275,446 | ||||||||||
I-45/Telephone Rd. Center | I-45 at Maxwell Street | Sellers Bros. +, Dollar Tree, FAMSA, Fallas Paredes | 15.00 | % | (1) | 25,768 | 146,021 | 0 | 171,789 | |||||||||
Jacinto City | Market at Baca | Sellers Bros. +, CVS/pharmacy | 50.00 | % | (1) | 24,569 | 24,569 | 0 | 49,138 | |||||||||
Kirby Strip Center | Kirby Dr, Houston | Las Americas Grill | 100.00 | % | 10,000 | 0 | 0 | 10,000 | ||||||||||
Lawndale | Lawndale at 75th St. | Family Dollar, 99 Cents Only, LaMichoacana Meat Market + | 15.00 | % | (1) | 7,819 | 44,308 | 0 | 52,127 | |||||||||
Little York Plaza | Little York at E. Hardy | Sellers Bros. +, Fallas Paredes | 15.00 | % | (1) | 17,603 | 99,750 | 0 | 117,353 | |||||||||
Lyons Avenue | Lyons at Shotwell | Fiesta +, Fallas Paredes | 15.00 | % | (1) | 10,144 | 57,485 | 0 | 67,629 | |||||||||
Market at Westchase | Westheimer at Wilcrest | Whole Foods Market + | 100.00 | % | 84,084 | 0 | 0 | 84,084 | ||||||||||
North Main Square | Pecore at N. Main | O'Reilly Auto Parts | 100.00 | % | 18,515 | 0 | 0 | 18,515 | ||||||||||
North Oaks | F.M. 1960 at Veterans Memorial | T.J. Maxx, Ross Dress for Less, Staples, Big Lots, DSW, Half Price Books, Anna's Linens, Hobby Lobby | 15.00 | % | (1) | 60,779 | 344,414 | 0 | 405,193 | |||||||||
North Triangle | I-45 at F.M. 1960 | CiCi’s Pizza | 100.00 | % | 16,060 | 0 | 0 | 16,060 | ||||||||||
Northbrook Center | Northwest Fwy. at W. 34th | Randall’s +, Office Depot, Citi Trends, Anna’s Linens, Dollar Tree | 100.00 | % | 173,288 | 0 | 0 | 173,288 | ||||||||||
Northwest Crossing | N.W. Fwy. at Hollister | Target (O.B.O.), Marshall’s, Babies “R” Us, Best Buy | 75.00 | % | (1)(3) | 137,507 | 45,836 | 120,721 | 304,064 | |||||||||
Oak Forest | W. 43rd at Oak Forest | Kroger +, Ross Dress for Less, Dollar Tree | 100.00 | % | 147,705 | 0 | 0 | 147,705 | ||||||||||
Orchard Green | Gulfton at Renwick | Sellers Bros. +, Family Dollar | 100.00 | % | 74,983 | 0 | 0 | 74,983 | ||||||||||
Randall's /Cypress Station | F.M. 1960 at I-45 | ATI Career Training Center | 100.00 | % | 138,974 | 0 | 0 | 138,974 | ||||||||||
Randall's /Kings Crossing | Kingwood Dr. at Lake Houston Pkwy. | Randall’s +, CVS/pharmacy | 30.00 | % | (1) | 37,919 | 88,478 | 0 | 126,397 | |||||||||
Randall's /Norchester | Grant at Jones | Playa Azul Seafood & Oyster Bar | 100.00 | % | 107,200 | 0 | 0 | 107,200 |
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Gross Leasable Area | ||||||||||||||||||
Joint | ||||||||||||||||||
Center | Location | Anchors | WRI | Foot | WRI | Venture | Owned by | |||||||||||
Owned % | Notes | Owned | Share | Other | Total | |||||||||||||
Richmond Square | Richmond Ave. at W. Loop 610 | Best Buy (O.B.O.), Cost Plus | 100.00 | % | 35,623 | 0 | 58,247 | 93,870 | ||||||||||
River Oaks East | W. Gray at Woodhead | Kroger + | 100.00 | % | 71,265 | 0 | 0 | 71,265 | ||||||||||
River Oaks West | W. Gray at S. Shepherd | Barnes & Noble, Talbots, JoS. A. Bank, Ann Taylor, Gap | 100.00 | % | 276,220 | 0 | 0 | 276,220 | ||||||||||
Sheldon Forest North | North, I-10 at Sheldon | Gerland’s +, Burke’s Outlet | 100.00 | % | 22,040 | 0 | 0 | 22,040 | ||||||||||
Sheldon Forest South | North, I-10 at Sheldon | Family Dollar | 50.00 | % | (1) | 37,670 | 37,670 | 0 | 75,340 | |||||||||
Shops at Three Corners | S. Main at Old Spanish Trail | Fiesta +, Office Depot, PetsMart, Ross Dress for Less, Anna’s Linens, Big Lots | 70.00 | % | (1) | 172,990 | 74,139 | 0 | 247,129 | |||||||||
Southgate | W. Fuqua at Hiram Clark | Food-A-Rama +, Palais Royal, CVS/pharmacy, Family Dollar | 15.00 | % | (1) | 18,668 | 105,786 | 0 | 124,454 | |||||||||
Spring Plaza | Hammerly at Campbell | Sellers Bros. +, Family Dollar | 15.00 | % | (1) | 8,875 | 50,291 | 0 | 59,166 | |||||||||
Stella Link | Stella Link at S. Braeswood | Sellers Bros.+, Spec’s Liquor Warehouse, Burke’s Outlet | 100.00 | % | 96,396 | 0 | 0 | 96,396 | ||||||||||
Studemont | Studewood at E. 14th St | Fiesta + | 100.00 | % | 28,466 | 0 | 0 | 28,466 | ||||||||||
Ten Blalock Square | I-10 at Blalock | 99 Ranch Market+ | 100.00 | % | 97,217 | 0 | 0 | 97,217 | ||||||||||
Village Arcade | University at Kirby | Gap, Baby Gap | 100.00 | % | 57,219 | 0 | 0 | 57,219 | ||||||||||
Village Arcade-Phase II | University at Kirby | Talbots | 100.00 | % | 28,371 | 0 | 0 | 28,371 | ||||||||||
Village Arcade-Phase III | University at Kirby | American Eagle Outfitters, Banana Republic, Express | 100.00 | % | 106,879 | 0 | 0 | 106,879 | ||||||||||
Westchase Center | Westheimer at Wilcrest | Ross Dress for Less, Randall’s +, Golfsmith, Staples, Target (O.B.O.), Petco | 100.00 | % | 231,767 | 0 | 99,550 | 331,317 | ||||||||||
Westhill Village | Westheimer at Hillcroft | Ross Dress for Less, Office Depot, 99 Cents Only, Anna’s Linens | 100.00 | % | 130,512 | 0 | 0 | 130,512 | ||||||||||
Killeen Marketplace | 3200 E. Central Texas Expressway, Killeen | Best Buy, Ross Dress for Less, Staples, Home Depot (O.B.O.) | 100.00 | % | 115,203 | 0 | 135,934 | 251,137 | ||||||||||
Cedar Bayou | Bayou Rd., La Marque | Dollar General, La Marque Fire Dept. (O.B.O.) | 100.00 | % | 14,873 | 0 | 30,688 | 45,561 | ||||||||||
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 | 100.00 | % | 242,293 | 0 | 206,463 | 448,756 | ||||||||||
Plantation Centre | Del Mar Blvd. at McPherson Rd., Laredo | H. E. B. +, Blockbuster | 100.00 | % | 134,919 | 0 | 0 | 134,919 | ||||||||||
League City Plaza | I-45 at F.M. 518, League City | Kroger + | 15.00 | % | (1) | 19,048 | 107,942 | 0 | 126,990 | |||||||||
Central Plaza | Loop 289 at Slide Rd., Lubbock | Bed Bath & Beyond, Old Navy, Staples | 100.00 | % | 151,196 | 0 | 0 | 151,196 | ||||||||||
Town and Country | 4th St. at University, Lubbock | Hasting’s Records & Books | 100.00 | % | 30,743 | 0 | 0 | 30,743 | ||||||||||
Angelina Village | Hwy. 59 at Loop 287, Lufkin | Kmart, Conn's | 100.00 | % | 248,199 | 0 | 0 | 248,199 | ||||||||||
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 | 50.00 | % | (1)(3) | 143,968 | 143,968 | 212,132 | 500,067 | |||||||||
Market at Nolana | Nolana Ave and 29th St., McAllen | Wal-Mart (O.B.O.) | 50.00 | % | (1)(3) | 20,704 | 20,704 | 203,818 | 245,226 | |||||||||
Northcross | N. 10th St. at Nolana Loop, McAllen | Barnes & Noble | 50.00 | % | (1)(3) | 38,196 | 38,196 | 0 | 76,391 | |||||||||
Old Navy Building | 1815 10th Street, McAllen | Old Navy | 50.00 | % | (1)(3) | 7,500 | 7,500 | 0 | 15,000 | |||||||||
South 10th St. HEB | S. 10th St. at Houston St., McAllen | H. E. B. + | 50.00 | % | (1)(3) | 51,851 | 51,851 | 0 | 103,702 | |||||||||
Independence Plaza | Town East Blvd., Mesquite | Babies “R” Us, Family Dollar | 100.00 | % | 159,219 | 0 | 0 | 159,219 | ||||||||||
Market at Sharyland Place | U.S. Expressway 83 and Shary Road, Mission | Wal-Mart (O.B.O.), Kohl's, Dollar Tree | 50.00 | % | (1)(3) | 52,956 | 52,956 | 320,000 | 425,912 | |||||||||
Sharyland Towne Crossing | Shary Rd. at Hwy. 83, Mission | Target (O.B.O.), H. E. B. +, T.J. Maxx, Petco, Office Depot, Ross Dress for Less | 50.00 | % | (1)(3) | 172,234 | 172,234 | 131,909 | 476,376 | |||||||||
Custer Park | SWC Custer Road at Parker Road, Plano | Kroger + (O.B.O) | 100.00 | % | 115,484 | 0 | 65,084 | 180,568 | ||||||||||
Pitman Corners | Custer Road at West 15th, Plano | Albertsons +, Tuesday Morning | 100.00 | % | 192,283 | 0 | 0 | 192,283 | ||||||||||
Preston Shepard Place | Preston Rd. at Park Blvd. | SteinMart, Old Navy, Office Depot, Marshalls, Babies "R" Us, Borders | 20.00 | % | (1)(3) | 72,667 | 290,670 | 0 | 363,337 | |||||||||
Gillham Circle | Gillham Circle at Thomas, Port Arthur | Family Dollar | 100.00 | % | 33,134 | 0 | 0 | 33,134 | ||||||||||
Starr Plaza | U.S. Hwy. 83 at Bridge St., Rio Grande City | H. E. B.+, Beall’s, Dollar General, Stage | 50.00 | % | (1)(3) | 88,406 | 88,406 | 0 | 176,812 | |||||||||
Rockwall | I-30 at Market Center Street, Rockwall | Office Max, Petco, Ross Dress for Less, Old Navy, Michael’s | 100.00 | % | 209,051 | 0 | 0 | 209,051 | ||||||||||
Rose-Rich | U.S. Hwy. 90A at Lane Dr., Rosenberg | Family Dollar, Palais Royal | 100.00 | % | 103,385 | 0 | 0 | 103,385 | ||||||||||
Lake Pointe Market Center | Dalrock Rd. at Lakeview Pkwy., Rowlett | Tom Thumb + (O.B.O.), Walgreen’s (O.B.O.) | 100.00 | % | 40,513 | 0 | 81,176 | 121,689 | ||||||||||
Boswell Towne Center | Highway 287 at Bailey Boswell Rd., Saginaw | Albertsons + (O.B.O) | 100.00 | % | 26,088 | 0 | 61,747 | 87,835 | ||||||||||
Fiesta Trails | I-10 at DeZavala Rd., San Antonio | H. E. B. + (O.B.O.), Target (O.B.O.), Act III Theatres, Marshall’s, Office Max, SteinMart, Petco, Anna’s Linens | 100.00 | % | 312,370 | 0 | 176,000 | 488,370 | ||||||||||
Oak Park Village | Nacogdoches at New Braunfels, San Antonio | H. E. B. + | 30.00 | % | (1) | 19,286 | 45,001 | 0 | 64,287 | |||||||||
Parliament Square | W. Ave. at Blanco, San Antonio | Bernina New Home Sewing Center, Anytime Fitness | 100.00 | % | 64,950 | 0 | 0 | 64,950 | ||||||||||
Parliament Square II | W. Ave. at Blanco, San Antonio | Incredible Pizza | 100.00 | % | 54,541 | 0 | 0 | 54,541 | ||||||||||
Thousand Oaks | Thousand Oaks Dr. at Jones Maltsberger Rd., San Antonio | H. E. B. +, Beall’s, Tuesday Morning | 15.00 | % | (1) | 24,432 | 138,450 | 0 | 162,882 | |||||||||
Valley View | West Ave. at Blanco Rd., San Antonio | Marshall’s, Blockbuster, Dollar Tree | 100.00 | % | 91,184 | 0 | 0 | 91,184 |
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Gross Leasable Area | ||||||||||||||||||
Joint | ||||||||||||||||||
Center | Location | Anchors | WRI | Foot | WRI | Venture | Owned by | |||||||||||
Owned % | Notes | Owned | Share | Other | Total | |||||||||||||
Market at Town Center | Town Center Blvd., Sugar Land | Old Navy, Home Goods, Marshall’s, DSW Shoe Warehouse, Ross Dress for Less | 100.00 | % | 375,547 | 0 | 0 | 375,547 | ||||||||||
Island Market Place | 6th St. at 9th Ave., Texas City | Food King + | 100.00 | % | 27,277 | 0 | 0 | 27,277 | ||||||||||
Palmer Plaza | F.M. 1764 at 34th St., Texas City | Randall’s +, Big Lots (O.B.O.), Dollar Tree | 100.00 | % | 96,526 | 0 | 99,980 | 196,506 | ||||||||||
Broadway | S. Broadway at W. 9th St., Tyler | SteinMart | 100.00 | % | 60,400 | 0 | 0 | 60,400 | ||||||||||
Crossroads | I-10 at N. Main, Vidor | Market Basket +, Beall’s, Baskin’s, Burke’s Outlet | 100.00 | % | 115,692 | 0 | 0 | 115,692 | ||||||||||
Texas Total: | # of Properties: 102 | 9,281,415 | 3,325,567 | 2,757,237 | 15,364,216 | |||||||||||||
Utah | ||||||||||||||||||
Alpine Valley Center | Main St. at State St., American Fork | Super Target + (O.B.O.), Old Navy, Justice, Dollar Tree, Office Depot | 33.30 | % | (1)(3) | 30,382 | 60,772 | 133,500 | 224,654 | |||||||||
Taylorsville Town Center | West 4700 South at Redwood Rd., Taylorsville | Albertsons + (O.B.O.), Rite Aid | 100.00 | % | 94,157 | 0 | 40,057 | 134,214 | ||||||||||
West Jordan Town Center | West 7000 South at S. Redwood Rd., West Jordan | Albertsons +, Office Depot, Target (O.B.O.), Petco | 100.00 | % | 182,099 | 0 | 122,800 | 304,899 | ||||||||||
Utah Total: | # of Properties: 3 | 306,638 | 60,772 | 296,357 | 663,767 | |||||||||||||
Washington | ||||||||||||||||||
Mukilteo Speedway Center | Mukilteo Speedway, Lincoln Way, and Highway 99, Lynnwood | Food Emporium +, Bartell Drugs | 20.00 | % | (1)(3) | 18,055 | 72,218 | 0 | 90,273 | |||||||||
Meridian Town Center | Meridian Avenue East and 132nd Street East, Puyallup | Jo-Ann Fabric & Craft Store, Safeway + (O.B.O.) | 20.00 | % | (1)(3) | 15,533 | 62,133 | 65,346 | 143,012 | |||||||||
South Hill Center | 43rd Avenue Southwest and Meridian Street South, Puyallup | Best Buy, Bed Bath & Beyond, Ross Dress for Less | 20.00 | % | (1)(3) | 26,802 | 107,208 | 0 | 134,010 | |||||||||
Rainer Square Plaza | Rainer Avenue South and South Charleston Street, Seattle | Safeway +, Ross Dress for Less | 20.00 | % | (1)(3) | 21,485 | 85,938 | 0 | 107,423 | |||||||||
Washington Total: | # of Properties: 4 | 81,875 | 327,497 | 65,346 | 474,718 | |||||||||||||
Industrial | ||||||||||||||||||
Operating Properties | ||||||||||||||||||
California | ||||||||||||||||||
Siempre Viva Business Park | Siempre Viva Rd. at Kerns St., San Diego | Hitachi Transport, UPS Supply Chain Solutions, Inc., Besttech Trading USA | 20.00 | % | (1)(3) | 145,353 | 581,413 | 0 | 726,766 | |||||||||
California Total: | # of Properties: 1 | 145,353 | 581,413 | 0 | 726,766 | |||||||||||||
Florida | ||||||||||||||||||
Lakeland Industrial Center | I-4 at County Rd., Lakeland | Rooms to Go, Publix, Star Distribution, Chep USA | 100.00 | % | 600,000 | 0 | 0 | 600,000 | ||||||||||
Lakeland Interestate Industrial Park I | Interstate Drive and Kathleen Rd., Lakeland | Carolina Logistics Services, Inc., Acuity Specialty Products Group, Inc., | 100.00 | % | 168,400 | 0 | 0 | 168,400 | ||||||||||
1801 Massaro | 1801 Massaro Blvd., Tampa | MiTek Industries, Inc., JK Transportation | 100.00 | % | 159,000 | 0 | 0 | 159,000 | ||||||||||
Hopewell Industrial Center | Old Hopewell Boulevard and U.S. Highway 301, Tampa | Parts Depot, Inc., American Tire Distributors | 100.00 | % | 224,483 | 0 | 0 | 224,483 | ||||||||||
Tampa East Industrial Portfolio | 1841 Massaro Blvd., Tampa | General Electric, Hughes Supply, Interline Brands, GE Polymershapes, Creative Recycling Systems | 100.00 | % | 512,923 | 0 | 0 | 512,923 | ||||||||||
Florida Total: | # of Properties: 5 | 1,664,806 | 0 | 0 | 1,664,806 | |||||||||||||
Georgia | ||||||||||||||||||
Atlanta Industrial Park | Atlanta Industrial Pkwy. at Atlanta Industrial Dr., Atlanta | Georgia Aquarium, Inc., Cardinal Logistics Mgmt Co. | 100.00 | % | 120,200 | 0 | 0 | 120,200 | ||||||||||
Atlanta Industrial Park II & VI | Atlanta Industrial Pkwy. at Atlanta Industrial Dr., Atlanta | Target Container Co., Sanderson Industries, Inc., GSC Packaging | 100.00 | % | 382,100 | 0 | 0 | 382,100 | ||||||||||
Atlanta Industrial Parkway | Atlanta Industrial Pkwy. at Atlanta Industrial Dr., Atlanta | Sanderson Industries, Inc. | 100.00 | % | 50,000 | 0 | 0 | 50,000 | ||||||||||
Riverview Distribution Center | Fulton Industrial Blvd. at Camp Creek Parkway | Chep USA | 100.00 | % | 265,200 | 0 | 0 | 265,200 | ||||||||||
Sears Logistics | 3700 Southside Industrial Way, Atlanta | Sears Logistics Services | 20.00 | % | (1)(3) | 80,511 | 322,043 | 0 | 402,554 | |||||||||
SouthPark 3075 | Anvil Block Rd and SouthPark Blvd, Atlanta | American Tire Distributors | 100.00 | % | 234,525 | 0 | 0 | 234,525 |
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Property Listing at September 30, 2009 | ||||||||||||||||||
Gross Leasable Area | ||||||||||||||||||
Joint | ||||||||||||||||||
Center | Location | Anchors | WRI | Foot | WRI | Venture | Owned by | |||||||||||
Owned % | Notes | Owned | Share | Other | Total | |||||||||||||
Southside Industrial Parkway | Southside Industrial Pkwy at Jonesboro Rd., Atlanta | Lowe Supply, Inc., Mission Produce | 100.00 | % | 72,000 | 0 | 0 | 72,000 | ||||||||||
Westlake 125 | Camp Creek Parkway and Westlake Parkway, Atlanta | Maxwell Chase Technologies, LLC, Nissei ASB Company, Berlin Packaging | 100.00 | % | 154,464 | 0 | 0 | 154,464 | ||||||||||
Kennesaw 75 | 3850-3900 Kennesaw Prkwy, Kennesaw | Trane, Clorox Services Company, Builders Specialties, LLC | 100.00 | % | 178,467 | 0 | 0 | 178,467 | ||||||||||
6485 Crescent Drive | I-85 at Jimmy Carter Blvd., Norcross | Zurn, Pax Industries, Prime Choice Properties | 20.00 | % | (1)(3) | 72,092 | 288,368 | 0 | 360,460 | |||||||||
Georgia Total: | # of Properties: 8 | 1,609,559 | 610,411 | 0 | 2,219,970 | |||||||||||||
Tennessee | ||||||||||||||||||
Crowfarn Drive Warehouse | Crowfarn Dr. at Getwell Rd., Memphis | CMI Freight Transportation, Sergeant's Pet Care Products | 20.00 | % | (1)(3) | 31,770 | 127,079 | 0 | 158,849 | |||||||||
Outland Business Center | Outland Center Dr., Memphis | Vistar Corporation, TricorBraun, Kuehne & Nagel | 20.00 | % | (1)(3) | 82,088 | 328,350 | 0 | 410,438 | |||||||||
Southpoint I & II | Pleasant Hill Rd. at Shelby Dr., Memphis | AF Services, Sunnywood Products, Inc., Wynit | 100.00 | % | 570,940 | 0 | 0 | 570,940 | ||||||||||
Tennessee Total: | # of Properties: 3 | 684,798 | 455,429 | 0 | 1,140,227 | |||||||||||||
Texas | ||||||||||||||||||
Midpoint I-20 Distribution Center | New York Avenue and Arbrook Boulevard, Arlington | Airborne Express, Tred-It Tire & Wheel, Amercian Medical Response | 100.00 | % | 253,165 | 0 | 0 | 253,165 | ||||||||||
Randol Mill Place | Randol Mill Road, Arlington | Protech Electronics, Inc., Premier Products | 100.00 | % | 54,639 | 0 | 0 | 54,639 | ||||||||||
Braker 2 Business Center | Kramer Ln. at Metric Blvd., Austin | Home Team Pest Defense, MJC Electronics Corporation | 100.00 | % | 27,359 | 0 | 0 | 27,359 | ||||||||||
Corporate Center Park I and II | Putnam Dr. at Research Blvd., Austin | Phoenix Lamar Corp, CenTex Independent Electrical, Schindler Elevator | 100.00 | % | 119,452 | 0 | 0 | 119,452 | ||||||||||
Oak Hills Industrial Park | Industrial Oaks Blvd., Austin | Terracon, Inc., Illumitex | 100.00 | % | 89,858 | 0 | 0 | 89,858 | ||||||||||
Rutland 10 Business Center | Metric Blvd. At Centimeter Circle, Austin | Media Event Concepts, Inc., Stellar Micro Devices | 100.00 | % | 54,000 | 0 | 0 | 54,000 | ||||||||||
Southpark A,B,C | East St. Elmo Rd. at Woodward St., Austin | HJV Associates, Inc., Texas EZ Pawn., Viko Test Lab | 100.00 | % | 78,276 | 0 | 0 | 78,276 | ||||||||||
Southpoint Service Center | Burleson at Promontory Point Dr., Austin | Browning Construction Co., Ltd. | 100.00 | % | 57,667 | 0 | 0 | 57,667 | ||||||||||
1625 Diplomat Drive | SWC Diplomat Dr. at McDaniel Dr., Carrollton | Rooftop Systems, Inc. | 100.00 | % | 106,140 | 0 | 0 | 106,140 | ||||||||||
Midway Business Center | Midway at Boyington, Carrollton | ProSource, Luxury of Leather | 100.00 | % | 141,246 | 0 | 0 | 141,246 | ||||||||||
Manana Office Center | I-35 at Manana, Dallas | Dave & Busters, B&B Graphics Finishing Services | 100.00 | % | 223,128 | 0 | 0 | 223,128 | ||||||||||
Newkirk Service Center | Newkirk near N.W. Hwy., Dallas | AWC, Corporate Meeting Services | 100.00 | % | 105,892 | 0 | 0 | 105,892 | ||||||||||
Northeast Crossing Office/Service Center | East N.W. Hwy. at Shiloh, Dallas | Capital Title, Garland Surgery Center | 100.00 | % | 78,700 | 0 | 0 | 78,700 | ||||||||||
Redbird Distribution Center | Joseph Hardin Drive, Dallas | Consolidated Container Company; Texwood Industries, L.P. | 100.00 | % | 110,839 | 0 | 0 | 110,839 | ||||||||||
Regal Distribution Center | Leston Avenue, Dallas | Parkland Health & Hosp System, BKM Total Office of Texas, L.P., Global Industries Southwest | 100.00 | % | 202,559 | 0 | 0 | 202,559 | ||||||||||
Space Center Industrial Park | Pulaski St. at Irving Blvd., Dallas | Weir’s Furniture Village, Inc., Facility Interiors, Inc. | 100.00 | % | 264,582 | 0 | 0 | 264,582 | ||||||||||
McGraw Hill Distribution Center | 420 E. Danieldale Rd, DeSoto | McGraw Hill Companies, Inc. | 100.00 | % | 417,938 | 0 | 0 | 417,938 | ||||||||||
610 and 11th St. Warehouse | Loop 610 at 11th St. | Iron Mountain | 20.00 | % | (1)(3) | 48,728 | 194,914 | �� | 0 | 243,642 | ||||||||
610 and 11th St. Warehouse | Loop 610 at 11th St. | Prefco Corp. | 100.00 | % | 104,975 | 0 | 0 | 104,975 | ||||||||||
610/288 Business Park | Cannon Street | Palmer Logistics | 20.00 | % | (1)(3) | 59,085 | 236,341 | 0 | 295,426 | |||||||||
Beltway 8 Business Park | Beltway 8 at Petersham Dr. | Select Floors, Premier Home Technology | 100.00 | % | 157,498 | 0 | 0 | 157,498 | ||||||||||
Blankenship Building | Kempwood Drive | Classic Printers | 100.00 | % | 59,729 | 0 | 0 | 59,729 | ||||||||||
Brookhollow Business Center | Dacoma at Directors Row | YMCA of Greater Houston, Surgeon's Management, Houston Digital Instruments | 100.00 | % | 133,553 | 0 | 0 | 133,553 | ||||||||||
Central Park Northwest VI | Central Pkwy. at Dacoma | Houston Metallurgical Lab, Inc., Gulf Draperies | 100.00 | % | 175,348 | 0 | 0 | 175,348 | ||||||||||
Central Park Northwest VII | Central Pkwy. at Dacoma | Lucent Technologies, Inc., Houston Graduate School of Theology | 100.00 | % | 103,602 | 0 | 0 | 103,602 | ||||||||||
Crestview | Bissonnet at Wilcrest | Creative Connection | 100.00 | % | 8,970 | 0 | 0 | 8,970 | ||||||||||
Crosspoint Warehouse | Crosspoint | Foam Enterprises, LLC. | 100.00 | % | 72,505 | 0 | 0 | 72,505 | ||||||||||
Houston Cold Storage Warehouse | 7080 Express Lane | Houston Central Industries, Inc. | 100.00 | % | 128,752 | 0 | 0 | 128,752 | ||||||||||
Jester Plaza Office Service Center | West T.C. Jester | Corporate Care of Houston, Milwaukee Electric Tool Corporation, Zermat USA | 100.00 | % | 100,605 | 0 | 0 | 100,605 | ||||||||||
Kempwood Industrial | Kempwood Dr. at Blankenship Dr. | Pioneer Contract Services, Veritas | 20.00 | % | (1)(3) | 43,898 | 175,591 | 0 | 219,489 | |||||||||
Kempwood Industrial | Kempwood Dr. at Blankenship Dr. | Pioneer Contract Services | 100.00 | % | 113,218 | 0 | 0 | 113,218 | ||||||||||
Lathrop Warehouse | Lathrop St. at Larimer St. | United D.C., Inc. | 20.00 | % | (1)(3) | 50,378 | 201,512 | 0 | 251,890 | |||||||||
Navigation Business Park | Navigation at N. York | Synergy Cables USA | 20.00 | % | (1)(3) | 47,664 | 190,657 | 0 | 238,321 |
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Property Listing at September 30, 2009 | ||||||||||||||||||
Gross Leasable Area | ||||||||||||||||||
Joint | ||||||||||||||||||
Center | Location | Anchors | WRI | Foot | WRI | Venture | Owned by | |||||||||||
Owned % | Notes | Owned | Share | Other | Total | |||||||||||||
Northway Park II | Loop 610 East at Homestead | Jet Lube, Inc., South Texas Bolt & Fitting | 20.00 | % | (1)(3) | 60,697 | 242,786 | 0 | 303,483 | |||||||||
Railwood F | Market at U.S. 90 | Shell Oil Company | 20.00 | % | (1)(3) | 60,000 | 240,000 | 0 | 300,000 | |||||||||
Railwood G | Mesa at U.S. 90 | Global Stainless Supply, Inc. | 50.00 | % | (1)(3) | 105,425 | 105,425 | 0 | 210,850 | |||||||||
Railwood Industrial Park | Mesa at U.S. 90 | Distribution International SW, Meridian IQ Services | 100.00 | % | 402,680 | 0 | 0 | 402,680 | ||||||||||
Railwood Industrial Park | Mesa at U.S. 90 | DSC Logistics, Resource Logistics International | 20.00 | % | (1)(3) | 99,531 | 398,125 | 0 | 497,656 | |||||||||
South Loop Business Park | S. Loop at Long Dr. | Plastic Plus Awards, Lumber Liquidators | 50.00 | % | (1)(3) | 46,225 | 46,225 | 0 | 92,450 | |||||||||
Southport Business Park 5 | South Loop 610 | International Surface Preparation Group, Inc. | 100.00 | % | 160,653 | 0 | 0 | 160,653 | ||||||||||
Southwest Park II Service Center | Rockley Road | BA Research International | 100.00 | % | 67,700 | 0 | 0 | 67,700 | ||||||||||
Stonecrest Business Center | Wilcrest at Fallstone | Alpha Omega Caseworks, Aztec Facility Services, Inc., Sun Line Food & Supply Co. | 100.00 | % | 110,624 | 0 | 0 | 110,624 | ||||||||||
Town & Country Commerce Center | I-10 at Beltway 8 | Arizona Tile, Seitel | 100.00 | % | 206,056 | 0 | 0 | 206,056 | ||||||||||
West 10 Business Center II | Wirt Rd. at I-10 | Summers Group, Inc. | 100.00 | % | 82,658 | 0 | 0 | 82,658 | ||||||||||
West Loop Commerce Center | W. Loop N. at I-10 | Inter-Tel Technologies | 100.00 | % | 34,256 | 0 | 0 | 34,256 | ||||||||||
West-10 Business Center | Wirt Rd. at I-10 | Aaron’s Office Furniture | 100.00 | % | 102,087 | 0 | 0 | 102,087 | ||||||||||
Westgate Service Center | Park Row Drive at Whiteback Dr. | Welltec, Inc.,Wood Group, 3M, CAS Holdings, Inc. | 100.00 | % | 119,786 | 0 | 0 | 119,786 | ||||||||||
Freeport Commerce Center | Sterling Street and Statesman Drive, Irving | McGraw Hill Companies, Inc., TKS (U.S.A.), Inc., Air Tiger Express, Excel Floors | 100.00 | % | 50,590 | 0 | 0 | 50,590 | ||||||||||
Central Plano Business Park | Klein Rd. at Plano Pkwy., Plano | CK Management, Inc., Minarik Corp. | 100.00 | % | 137,785 | 0 | 0 | 137,785 | ||||||||||
Jupiter Service Center | Jupiter near Plano Pkwy., Plano | Interceramic Tile, Gemaire Distributors | 100.00 | % | 78,480 | 0 | 0 | 78,480 | ||||||||||
Sherman Plaza Business Park | Sherman at Phillips, Richardson | Weingarten regional office | 100.00 | % | 101,137 | 0 | 0 | 101,137 | ||||||||||
Interwest Business Park | Alamo Downs Parkway, San Antonio | All-American Sports, Gell Service Company, Inc., Goodman Manufacturing Company, L.P. | 100.00 | % | 219,244 | 0 | 0 | 219,244 | ||||||||||
Isom Business Park | 919-981 Isom Road, San Antonio | Gate Gourmet, Gandi Innovations, Wells Fargo Bank | 100.00 | % | 175,200 | 0 | 0 | 175,200 | ||||||||||
O'Connor Road Business Park | O’Connor Road, San Antonio | Ingersoll Rand, TD Industries | 100.00 | % | 150,091 | 0 | 0 | 150,091 | ||||||||||
Freeport Business Center | 13215 N. Promenade Blvd., Stafford | Yokagawa, Life-Tech, Gurwitch Industries, PSI Group | 100.00 | % | 251,385 | 0 | 0 | 251,385 | ||||||||||
Texas Total: | # of Properties: 53 | 6,616,238 | 2,031,576 | 0 | 8,647,814 | |||||||||||||
Virginia | ||||||||||||||||||
Enterchange at Northlake A | 11900-11998 North Lakeridge Parkway, Ashland | FedEx, Owens & Minor | 100.00 | % | 215,077 | 0 | 0 | 215,077 | ||||||||||
Enterchange at Northlake C | North Lakeridge Parkway & Northlake Park Dr, Ashland | International Paper, Owens & Minor, Techturn, Wholesale Millwork | 20.00 | % | (1)(3) | 58,623 | 234,492 | 0 | 293,115 | |||||||||
Enterchange at Meadowville | 2101 Bermuda Hundred Dr, Chester | Vacant | 20.00 | % | (1)(3) | 45,362 | 181,447 | 0 | 226,809 | |||||||||
Enterchange at Walthall A & B | 1900-1998 Ruffin Mill Rd, Colonial Heights | Mazda Motors of America, Inc., Xymid LLC | 20.00 | % | (1)(3) | 121,336 | 485,343 | 0 | 606,679 | |||||||||
Enterchange at Walthall C | 1936-1962 Ruffin Mill Rd, Colonial Heights | PSS World Medical, Hill Phoenix, Sunrise Construction | 20.00 | % | (1)(3) | 52,384 | 209,538 | 0 | 261,922 | |||||||||
Enterchange at Walthall D | 1700-1798 Ruffin Mill Rd, Colonial Heights | Saddle Creek, Recall Total Info Manager, Jim's Formal Wear | 100.00 | % | 287,318 | 0 | 0 | 287,318 | ||||||||||
Interport Business Center A | 4800-4890 Eubank Road, Richmond | Anderson News, LLC, HD Business LLC, Wyeth | 20.00 | % | (1)(3) | 89,482 | 357,930 | 0 | 447,412 | |||||||||
Interport Business Center B | 4700-4790 Eubank Road, Richmond | Mid South Building Supply, Inc., Alcoa, EGL Eagle Global Logistics, LP, Commonwealth of Virginia Department of Taxation | 20.00 | % | (1)(3) | 23,600 | 94,400 | 0 | 118,000 | |||||||||
Interport Business Center C | 5300-5390 Laburnum Ave, Richmond | Sears Home Improvement Products, Inc., Ferguson Enterprise, Inc. | 20.00 | % | (1)(3) | 10,977 | 43,908 | 0 | 54,885 | |||||||||
Virginia Total: | # of Properties: 9 | 904,159 | 1,607,058 | 0 | 2,511,217 | |||||||||||||
Other | ||||||||||||||||||
Operating Properties | ||||||||||||||||||
Arizona | ||||||||||||||||||
Arcadia Biltmore Plaza | Campbell Ave. at North 36th St., Phoenix | Endurance Rehab, Weingarten Realty Regional Office | 100.00 | % | 21,122 | 0 | 0 | 21,122 | ||||||||||
Arizona Total: | # of Properties: 1 | 21,122 | 0 | 0 | 21,122 | |||||||||||||
Texas | ||||||||||||||||||
1919 North Loop West | Hacket Drive at West Loop 610 North | State of Texas, Weingarten Realty Regional Office | 100.00 | % | 139,449 | 0 | 0 | 139,449 | ||||||||||
Citadel Plaza | Citadel Plaza Dr. | Weingarten Realty Investors Corporate Office | 100.00 | % | 121,000 | 0 | 0 | 121,000 | ||||||||||
Texas Total: | # of Properties: 2 | 260,449 | 0 | 0 | 260,449 |
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Property Listing at September 30, 2009 | ||||||||||||||||||
Gross Leasable Area | ||||||||||||||||||
Joint | ||||||||||||||||||
Center | Location | Anchors | WRI | Foot | WRI | Venture | Owned by | |||||||||||
Owned % | Notes | Owned | Share | Other | Total | |||||||||||||
Total Operating Properties | # of Properties: 385 | 44,842,469 | 13,288,486 | 10,918,595 | 69,039,626 | |||||||||||||
New Development | ||||||||||||||||||
Arizona | ||||||||||||||||||
Mohave Crossroads | Bullhead Parkway at State Route 95, Bullhead City | 100.00 | % | (2) | 150,289 | 0 | 197,360 | 347,649 | ||||||||||
The Shoppes at Parkwood Ranch | Southern Avenue and Signal Butte Road, Mesa | 100.00 | % | (2) | 82,980 | 0 | 0 | 82,980 | ||||||||||
Arizona Total: | # of Properties: 2 | 233,269 | 0 | 197,360 | 430,629 | |||||||||||||
California | ||||||||||||||||||
Jess Ranch Phase III | Bear Valley Road at Jess Ranch Parkway, Apple Valley | 50.00 | % | (1)(2)(3) | 96,722 | 96,722 | 0 | 193,445 | ||||||||||
California Total: | # of Properties: 1 | 96,722 | 96,722 | 0 | 193,445 | |||||||||||||
Colorado | ||||||||||||||||||
River Point at Sheridan | Highway 85 and Highway 285, Sheridan | 50.00 | % | (1)(2)(3) | 80,878 | 80,878 | 327,000 | 488,755 | ||||||||||
The Gardens on Havana | Mississippi at Havana, Aurora | 39.80 | % | (1)(2)(3) | 355,988 | 538,678 | 142,500 | 1,037,166 | ||||||||||
Colorado Total: | # of Properties: 2 | 436,866 | 619,556 | 469,500 | 1,525,921 | |||||||||||||
Florida | ||||||||||||||||||
Clermont Landing | U.S. 27 & Steve's Road | 55.00 | % | (1)(2)(3) | 69,265 | 56,672 | 104,175 | 230,112 | ||||||||||
Florida Total: | # of Properties: 1 | 69,265 | 56,672 | 104,175 | 230,112 | |||||||||||||
North Carolina | ||||||||||||||||||
Surf City Crossing | Highway 17 and Highway 210, Surf City | 75.00 | % | (1)(2) | 36,567 | 12,189 | 0 | 48,756 | ||||||||||
Waterford Village | U.S. Hwy 17 & U.S. Hwy 74/76, Leland | 75.00 | % | (1)(2) | 53,341 | 17,780 | 0 | 71,121 | ||||||||||
North Carolina Total: | # of Properties: 2 | 89,908 | 29,969 | 0 | 119,877 | |||||||||||||
Tennessee | ||||||||||||||||||
Ridgeway Trace | Poplar Avenue and Ridgeway Road, Memphis | 100.00 | % | (2) | 89,912 | 0 | 137,740 | 227,652 | ||||||||||
Tennessee Total: | # of Properties: 1 | 89,912 | 0 | 137,740 | 227,652 | |||||||||||||
Texas | ||||||||||||||||||
Claywood Industrial Park | Clay at Hollister | 100.00 | % | (2) | 101,125 | 0 | 200,850 | 301,975 | ||||||||||
North Towne Plaza | U.S. 77 and 83 at SHFM 802, Brownsville | 75.00 | % | (1)(2) | 0 | 0 | 117,000 | 117,000 | ||||||||||
Tomball Marketplace | FM 2920 and Future 249, Tomball | 100.00 | % | (2) | 43,083 | 0 | 85,000 | 128,083 | ||||||||||
Westwood Center | Culebra Road and Westwood Loop, San Antonio | 100.00 | % | (2) | 5,650 | 0 | 0 | 5,650 | ||||||||||
Texas Total: | # of Properties: 4 | 149,858 | 0 | 402,850 | 552,708 | |||||||||||||
Total New Developments | # of Properties: 13 | 1,165,800 | 802,919 | 1,311,625 | 3,280,344 | |||||||||||||
Unimproved Land | ||||||||||||||||||
Arizona | ||||||||||||||||||
Bullhead Parkway at State Route 95, Bullhead City | 312,761 | |||||||||||||||||
Lon Adams Rd at Tangerine Farms Rd, Marana | 422,532 | |||||||||||||||||
Southern Avenue and Signal Butte Road, Mesa | 63,336 | |||||||||||||||||
Arizona Total: | 798,629 | |||||||||||||||||
California | ||||||||||||||||||
Bear Valley Road at Jess Ranch Parkway Phase II, Apple Valley | 138,956 | |||||||||||||||||
Bear Valley Road at Jess Ranch Parkway Phase III, Apple Valley | 447,361 | |||||||||||||||||
California Total: | 586,317 | |||||||||||||||||
Colorado |
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Weingarten Realty Investors | ||||||||||||||||||
Property Listing at September 30, 2009 | ||||||||||||||||||
Gross Leasable Area | ||||||||||||||||||
Joint | ||||||||||||||||||
Center | Location | Anchors | WRI | Foot | WRI | Venture | Owned by | |||||||||||
Owned % | Notes | Owned | Share | Other | Total | |||||||||||||
Mississippi at Havana, Aurora | 669,953 | |||||||||||||||||
Highway 85 and Highway 285, Sheridan | 1,003,187 | |||||||||||||||||
Colorado Total: | 1,673,140 | |||||||||||||||||
Florida | ||||||||||||||||||
Young Pines and Curry Ford Rd, Orange County | 132,422 | |||||||||||||||||
State Road 100 & Belle Terre Parkway, Palm Coast | 292,288 | |||||||||||||||||
SR 207 at Rolling Hills Dr, St. Augustine | 228,254 | |||||||||||||||||
Florida Total: | 652,964 | |||||||||||||||||
Georgia | ||||||||||||||||||
NWC South Fulton Parkway @ Hwy 92, Union City | 3,554,496 | |||||||||||||||||
Georgia Total: | 3,554,496 | |||||||||||||||||
Louisiana | ||||||||||||||||||
70th St. at Mansfield Rd., Shreveport | 41,704 | |||||||||||||||||
Louisiana Total: | 41,704 | |||||||||||||||||
Nevada | ||||||||||||||||||
SWC Highway 215 at Decatur, Las Vegas | 1,103,810 | |||||||||||||||||
Nevada Total: | 1,103,810 | |||||||||||||||||
North Carolina | ||||||||||||||||||
U.S. Hwy 17 & U.S. Hwy 74/76, Leland | 549,727 | |||||||||||||||||
Creedmoor (Highway 50) and Crabtree Valley Avenue, Raleigh | 510,959 | |||||||||||||||||
U.S. 15-501 and Bruce Wood Rd, Southern Pines | 1,047,000 | |||||||||||||||||
Highway 17 and Highway 210, Surf City | 2,024,233 | |||||||||||||||||
U.S. Highway 1 at Caveness Farms Rd., Wake Forest | 3,479,317 | |||||||||||||||||
North Carolina Total: | 7,611,236 | |||||||||||||||||
Tennessee | ||||||||||||||||||
Poplar Avenue and Ridgeway Road, Memphis | 173,804 | |||||||||||||||||
Tennessee Total: | 173,804 | |||||||||||||||||
Texas | ||||||||||||||||||
U.S. 77 and 83 at SHFM 802, Brownsville | 954,835 | |||||||||||||||||
Rock Prairie Rd. at Hwy. 6, College Station | 2,867,990 | |||||||||||||||||
River Pointe Drive at Interstate 45, Conroe | 118,483 | |||||||||||||||||
Leslie Rd. at Bandera Rd., Helotes | 74,052 | |||||||||||||||||
Bissonnet at Wilcrest, Houston | 84,629 | |||||||||||||||||
Citadel Plaza at 610 North Loop, Houston | 137,000 | |||||||||||||||||
East Orem | 122,000 | |||||||||||||||||
Kirkwood at Dashwood Drive, Houston | 322,000 | |||||||||||||||||
Mesa Road at Tidwell, Houston | 35,898 | |||||||||||||||||
Northwest Freeway at Gessner, Houston | 117,612 | |||||||||||||||||
West Little York at Interstate 45, Houston | 161,000 | |||||||||||||||||
West Loop North at Interstate 10, Houston | 145,000 | |||||||||||||||||
Nolana Ave and 29th St., McAllen | 163,350 | |||||||||||||||||
Shary Rd. at North Hwy. 83, Mission | 1,607,364 | |||||||||||||||||
9th Ave. at 25th St., Port Arthur | 243,000 | |||||||||||||||||
Culebra Road and Westwood Loop, San Antonio | 403,366 | |||||||||||||||||
FM 1957 (Potranco Road) and FM 211, San Antonio | 8,655,372 | |||||||||||||||||
SH 151 and Ingram Rd, San Antonio | 369,389 | |||||||||||||||||
US Hwy 281 at Wilderness Oaks | 1,269,774 | |||||||||||||||||
Highway 3 at Highway 1765, Texas City | 201,000 |
Page 39
Weingarten Realty Investors | ||||||||||||||||||
Property Listing at September 30, 2009 | ||||||||||||||||||
Gross Leasable Area | ||||||||||||||||||
Joint | ||||||||||||||||||
Center | Location | Anchors | WRI | Foot | WRI | Venture | Owned by | |||||||||||
Owned % | Notes | Owned | Share | Other | Total | |||||||||||||
FM 2920 and Highway 249, Tomball | 1,467,754 | |||||||||||||||||
Texas Total: | 19,520,868 | |||||||||||||||||
Utah | ||||||||||||||||||
South 300 West & West Paxton Avenue, Salt Lake City | 324,958 | |||||||||||||||||
Utah Total: | 324,958 | |||||||||||||||||
Total Unimproved Land | 36,041,926 |
Page 40