Saul Centers (BFS) 10-Q 2011 Q1 Quarterly report

Exhibit 99

Saul Centers, Inc. Schedule of Current Portfolio Properties March 31, 2011
Property	Location	Leasable Area (Square Feet)		Year Acquired or Developed (Renovated)		Land Area (Acres)		Percentage Leased				Anchor / Significant Tenants
								Mar-11		Mar-10 (1)
Shopping Centers
Ashburn Village	Ashburn, VA		16,550		1994/00/01/02/06		26.4		88%		94%	Giant Food, Ruby Tuesday, Hallmark Cards, McDonalds, Burger King
Ashland Square Phase I	Manassas, VA		221,770		2007		2.0		100%		100%	Capital One Bank
Beacon Center	Alexandria, VA		356,115		1972(1993/99/07)		32.3		100%		100%	Lowe’s Home Improvement Center, Giant Food, Office Depot, Outback Steakhouse, Marshalls, Hancock Fabrics, Party Depot, Panera Bread, TGI Fridays, Starbucks, Famous Dave’s, Chipotle
Belvedere	Baltimore, MD		54,941		1972		4.8		93%		36%	Fresh Point Grocery Store, Family Dollar
BJ’s Wholesale Club	Alexandria, VA		115,660		2008		9.6		100%		100%	BJ’s Wholesale Club
Boca Valley Plaza	Boca Raton, FL		121,269		2004		12.7		82%		81%	Publix, Wachovia Bank
Boulevard	Fairfax, VA		49,140		1994(1999/09)		5.0		100%		100%	Panera Bread, Party City, Petco
Briggs Chaney MarketPlace	Silver Spring, MD		194,347		2004		18.2		100%		97%	Safeway, Ross Dress For Less, Family Dollar, Advance Auto, McDonalds, Wendys, Chuck E Cheese
Broadlands Village	Ashburn, VA		159,734		2003/4/6		24.0		87%		92%	Safeway, The All American Steakhouse, Bonefish Grill, Starbucks
Countryside	Sterling, VA		141,696		2004		16.0		92%		91%	Safeway, CVS Pharmacy, Starbucks
Cruse MarketPlace	Cumming, GA		78,686		2004		10.6		86%		90%	Publix
Flagship Center	Rockville, MD		21,500		1972, 1989		0.5		100%		100%
French Market	Oklahoma City, OK		244,724		1974(1984/98)		13.8		98%		97%	Burlington Coat Factory, Bed Bath & Beyond, Staples, Famous Footwear, Lakeshore Learning Center, Alfred Angelo, Dollar Tree
Germantown	Germantown, MD		27,241		1992		2.7		79%		86%	Jiffy Lube
Giant	Baltimore, MD		70,040		1972(1990)		5.0		94%		94%	Giant Food
The Glen	Lake Ridge, VA		133,610		1994(2005)		14.7		96%		90%	Safeway Marketplace, The All American Steakhouse, Panera Bread, Five Guys
Great Eastern	District Heights, MD		255,398		1972(1995)		31.9		98%		99%	Fresh World, Pep Boys, Big Lots, Capital Sports Complex
Great Falls Center	Great Falls, VA		91,666		2008		11.0		92%		93%	Safeway, CVS Pharmacy, Capital One Bank, Subway
Hampshire Langley	Takoma Park, MD		131,700		1972(1979)		9.9		100%		96%	Expo E Mart, Radio Shack, Starbucks, Footlocker
Hunt Club Corners	Apopka, FL		101,522		2006		13.1		94%		96%	Publix, Walgreens, Radio Shack, Hallmark
Jamestown Place	Altamonte Springs, FL		96,372		2005		10.9		92%		87%	Publix, Carrabas Italian Grill
Kentlands Square	Gaithersburg, MD		114,381		2002		11.5		100%		100%	Lowe’s Home Improvement Center, Chipotle
Kentlands Place	Gaithersburg, MD		40,648		2005		3.4		93%		100%	Elizabeth Arden’s Red Door Salon, Bonefish Grill

Exhibit

Saul Centers, Inc. Schedule of Current Portfolio Properties March 31, 2011
Property	Location	Leasable Area (Square Feet)		Year Acquired or Developed (Renovated)		Land Area (Acres)		Percentage Leased				Anchor / Significant Tenants
								Mar-11		Mar-10 (1)
Shopping Centers (continued)
Lansdowne Town Center	Leesburg, VA		189,355		2006		23.4		92%		93%	Harris Teeter, CVS Pharmacy, Panera Bread, Not Your Average Joes, Starbucks
Leesburg Pike	Baileys Crossroads, VA		97,752		1966(1982/95)		9.4		100%		99%	CVS Pharmacy, Party Depot, FedEx/Kinkos, Radio Shack, Verizon Wireless
Lumberton Plaza	Lumberton, NJ		193,044		1975(1992/96)		23.3		90%		98%	Rite Aid, Virtua Health Center, Radio Shack, Family Dollar
Metro Pike Center	Rockville, MD		67,487		2010		4.6		89%		NA	McDonalds, Jennifer Convertibles, FedEx/Kinkos, Dunkin Donuts, Seven Eleven
Shops at Monocacy	Frederick, MD		109,144		2004		13.0		90%		97%	Giant Food, Panera Bread, Starbucks
Northrock	Warrenton, VA		103,439		2009		15.4		72%		69%	Harris Teeter, Longhorn Steakhouse, Ledo’s Pizza
Olde Forte Village	Ft. Washington, MD		143,175		2003		16.0		91%		89%	Safeway, Radio Shack, McDonalds, Wendys, Ledo’s Pizza
Olney	Olney, MD		53,765		1975(1990)		3.7		94%		99%	Rite Aid, Olney Grill
Orchard Park	Dunwoody, GA		87,885		2007		10.5		91%		91%	Kroger, Starbucks
Palm Springs Center	Altamonte Springs, FL		126,446		2005		12.0		91%		93%	Albertson’s, Office Depot, Mimi’s Cafe, Toojay’s Deli
Ravenwood	Baltimore, MD		93,328		1972(2006)		8.0		91%		91%	Giant Food, Starbucks
11305 Rockville Pike	Rockville, MD		20,149		2010		1.9		100%		NA	Staples
Seabreeze Plaza	Palm Harbor, FL		146,673		2005		18.4		95%		98%	Publix, Earth Origins Health Food, Petco, Planet Fitness
Marketplace at Sea Colony	Bethany Beach, DE		21,677		2008		5.1		78%		91%	Seacoast Realty, Armand’s Pizza, Candy Kitchen
Seven Corners	Falls Church, VA		574,831		1973 (1994- 7/07)		31.6		100%		100%	The Home Depot, Shoppers Food & Pharmacy, Syms, Michaels Arts & Crafts, Barnes & Noble, Ross Dress For Less, G Street Fabrics, Off-Broadway Shoes, The Room Store, Dress Barn, Starbucks, Dogfishhead Ale House, Red Robin Gourmet Burgers, Chipotle, Wendys
Shops at Fairfax	Fairfax, VA		68,743		1975(1993/99)		6.7		93%		98%	Super H Mart
Smallwood Village Center	Waldorf, MD		172,861		2006		25.1		64%		74%	Safeway, CVS Pharmacy, Family Dollar
Southdale	Glen Burnie, MD		484,115		1972(1986)		39.6		94%		95%	The Home Depot, Michaels Arts & Crafts, Marshalls, PetSmart, Value City Furniture, Athletic Warehouse, Starbucks, All Green Market, Gallo Clothing
Southside Plaza	Richmond, VA		371,761		1972		32.8		92%		87%	Community Supermarket, Maxway, Citi Trends, City of Richmond, McDonalds, Burger King
South Dekalb Plaza	Atlanta, GA		163,418		1976		14.6		82%		89%	Maxway, Big Lots, Emory Clinic
Thruway	Winston-Salem, NC		362,600		1972(1997)		30.5		90%		96%	Harris Teeter, Borders Books, Stein Mart, Talbots, Hanes Brands, JoS. A Banks, Bonefish Grill, Chico’s, Ann Taylor Loft, Coldwater Creek, Rite Aid, FedEx/Kinkos, New Balance, Aveda Salon, Christies Hallmark, Carter’s Kids
Village Center	Centreville, VA		143,109		1990		17.2		92%		92%	Giant Food, Tuesday Morning, Starbucks
West Park	Oklahoma City, OK		76,610		1975		11.2		12%		19%	Family Dollar
Westview Village	Frederick, MD		100,997		2009		10.4		45%		28%	Mimi’s Cafe, Sleepy’s, WOW Wingery, Firehouse Subs, Cici’s Pizza
White Oak	Silver Spring, MD		480,276		1972 (1993)		28.5		99%		99%	Giant Food, Sears, Walgreens, Radio Shack, Boston Market, Sarku
	Total Shopping Centers		7,291,350				702.9		91.6%		91.9%

Exhibit

Saul Centers, Inc. Schedule of Current Portfolio Properties March 31, 2011
Property	Location	Leasable Area (Square Feet)			Year Acquired or Developed (Renovated)		Land Area (Acres)			Percentage Leased					Anchor / Significant Tenants
										Mar-11			Mar-10 (1)
Mixed-Use Properties
Avenel Business Park	Gaithersburg, MD		390,579			1981-2000		37.1			81%			84%	General Services Administration, VIRxSYS, Quanta Systems, SeraCare Life Sciences
Clarendon Center-North Block	Arlington, VA		108,387			2010		0.6			75%			NA	Airline Reporting Corporation, Pete’s New Haven aPizza, AT&T, BGR
Clarendon Center-South Block	Arlington, VA		104,662			2010		1.3			57%			NA	Leadership Institute, Winston Partners, Keppler Speakers Bureau, Trader Joe’s, Circa Cafe, Burke & Herbert Bank
-South Block Residential (244 units)			188,671								92%			NA
Crosstown Business Center	Tulsa, OK		197,135			1975(2000)		22.4			87%			78%	Compass Group, Roxtec, Keystone Automotive, Freedom Express, Direct TV
601 Pennsylvania Ave.	Washington, DC		226,604			1973(1986)		1.0			95%			100%	National Gallery of Art, American Assn. of Health Plans, Credit Union National Assn., Southern Company, HQ Global, Freedom Forum, Pharmaceutical Care Management Assn., Capital Grille
Van Ness Square	Washington, DC		159,411	(3)		1973(1990)		1.4	(3)		64%	(3)		91%	Office Depot, Pier 1
Washington Square	Alexandria, VA		235,042			1975(2000)		2.0			76%			97%	Vanderweil Engineering, Agentrics, EarthTech, Thales, Cooper Carry, Bank of America, Trader Joe’s, Fed Ex/Kinko’s, Talbots
	Total Mixed-Use Properties		1,610,491					65.8			79.3%	(2)		89.5%
	Total Portfolio		8,901,841					768.7			89.6%	(2)		91.6%
Land and Development Parcels
Ashland Square Phase II	Manassas, VA					2004		17.3			Marketing to grocers and other retail businesses, with a development timetable yet to be finalized.
New Market	New Market, MD					2005		35.5			Parcel will accommodate retail development in excess of 120,000 SF near I-70, east of Frederick, Maryland. A development timetable has not been determined.
	Total Development Properties							52.8

(1) Percentage leased is a percentage of rentable square feet leased for commercial space and a percentage of units leased for apartments.

(2) Total percentage leased is for commercial space only.

(3) Includes recent acquisition of 4469 Connecticut Avenue.

Exhibit