SITE Centers Corp
For the period ended Dec 31, 2023. Filed Feb 23, 2024.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 23, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 2. Properties
At December 31, 2023, the Portfolio Properties included 114 shopping centers (including 13 centers owned through unconsolidated joint ventures). At December 31, 2023, the Portfolio Properties aggregated 22.6 million square feet of Company-owned GLA located in 20 states. These centers are principally located in suburban, higher household income communities with the highest concentration of centers located in Florida, Georgia, Illinois and Colorado.
At December 31, 2023, on a pro rata basis, the average annualized base rent per square foot was $20.35. The average annualized base rent of the Company’s 101 wholly-owned shopping centers was $20.46 per square foot, and the average annualized base rent for the 13 shopping centers owned through unconsolidated joint ventures was $16.43 per square foot. The Company’s average annualized base rent per square foot does not consider tenant expense reimbursements.
A significant number of the Company’s shopping centers are anchored by national tenant anchors and are designed to provide a highly compelling shopping experience and merchandise mix for retail partners and consumers. The tenants of the shopping centers typically cater to the consumer’s desire for value, service and convenience and offer day-to-day necessities rather than luxury items. The properties often include discounters, specialty grocers, pet supply stores, fitness centers, quick-service restaurants and beauty supply retailers as additional anchors or tenants. In recent years, the Company has also acquired a number of smaller format, convenience properties which do not include a traditional anchor tenant. As of December 31, 2023, the Company’s portfolio included 65 wholly-owned convenience assets expected to be in the spin-off of Curbline, including properties separated or in the process of being separated from SITE Centers.
Information as to the Company’s largest tenants based on total annualized rental revenues and Company-owned GLA at December 31, 2023, is set forth in Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” under the caption “Executive Summary – Company Fundamentals” of this Annual Report on Form 10-K. For additional details related to property indebtedness for the Company’s wholly-owned assets, see “Real Estate and Accumulated Depreciation” (Schedule III) herein. At December 31, 2023, the Company owned an investment in properties through unconsolidated joint ventures, which properties served as collateral for joint venture mortgage debt aggregating approximately $464.3 million (of which the Company’s proportionate share is $111.3 million) and is not reflected in the Company’s consolidated indebtedness. The Company’s properties range in size from approximately 2,000 square feet to approximately 759,000 square feet of Company-owned GLA. On a pro rata basis, the Company’s properties were 92.0% occupied as of December 31, 2023.
Tenant Lease Expirations and Renewals
The following table shows the impact of tenant lease expirations through 2033 at the Company’s 101 wholly-owned shopping centers, assuming that none of the tenants exercise any of their renewal options:
| ExpirationYear | No. ofLeasesExpiring | Approximate GLAin Square Feet(Thousands) | Annualized BaseRent UnderExpiring Leases(Thousands) | Average Base Rentper Square FootUnder ExpiringLeases | Percentage ofTotal GLARepresented byExpiring Leases | Percentage ofTotal Base RentalRevenuesRepresented byExpiring Leases |
|---|---|---|---|---|---|---|
| 2024 | 167 | 979 | $18,412 | $18.81 | 5.9% | 6.0% |
| 2025 | 246 | 2,080 | 41,609 | 20.00 | 12.4% | 13.6% |
| 2026 | 224 | 1,546 | 29,019 | 18.77 | 9.3% | 9.5% |
| 2027 | 247 | 2,365 | 48,497 | 20.50 | 14.1% | 15.9% |
| 2028 | 301 | 2,728 | 52,599 | 19.28 | 16.3% | 17.2% |
| 2029 | 186 | 1,700 | 32,491 | 19.12 | 10.2% | 10.6% |
| 2030 | 100 | 776 | 16,665 | 21.47 | 4.7% | 5.4% |
| 2031 | 81 | 753 | 13,337 | 17.72 | 4.5% | 4.4% |
| 2032 | 138 | 755 | 18,508 | 24.52 | 4.5% | 6.1% |
| 2033 | 136 | 839 | 19,084 | 22.74 | 5.0% | 6.2% |
| Total | 1,826 | 14,521 | $290,221 | $19.99 | 86.9% | 94.9% |
The following table shows the impact of tenant lease expirations through 2033 at the Company’s 13 shopping centers owned through unconsolidated joint ventures, assuming that none of the tenants exercise any of their renewal options:
| ExpirationYear | No. ofLeasesExpiring | Approximate GLAin Square Feet(Thousands) | Annualized BaseRent UnderExpiring Leases(Thousands) | Average Base Rentper Square FootUnder ExpiringLeases | Percentage ofTotal GLARepresented byExpiring Leases | Percentage ofTotal Base RentalRevenuesRepresented byExpiring Leases |
|---|---|---|---|---|---|---|
| 2024 | 38 | 479 | $6,117 | $12.76 | 12.3% | 10.5% |
| 2025 | 48 | 452 | 7,132 | 15.78 | 11.6% | 12.3% |
| 2026 | 51 | 449 | 6,890 | 15.35 | 11.5% | 11.9% |
| 2027 | 42 | 546 | 9,004 | 16.50 | 14.0% | 15.5% |
| 2028 | 51 | 541 | 8,765 | 16.20 | 13.9% | 15.1% |
| 2029 | 31 | 229 | 4,307 | 18.80 | 5.9% | 7.4% |
| 2030 | 13 | 60 | 1,249 | 20.91 | 1.5% | 2.1% |
| 2031 | 15 | 278 | 4,859 | 17.47 | 7.1% | 8.4% |
| 2032 | 19 | 158 | 2,677 | 16.92 | 4.1% | 4.6% |
| 2033 | 17 | 233 | 4,185 | 17.99 | 6.0% | 7.2% |
| Total | 325 | 3,425 | $55,185 | $16.11 | 87.9% | 95.0% |
The rental payments under certain of these leases will remain constant until the expiration of their base terms, regardless of inflationary increases. There can be no assurance that any of these leases will be renewed or that any replacement tenants will be obtained if not renewed.
| Location · Center · Year Developed/Redeveloped · Year Acquired · Owned GLA (000's) · Total Annualized Base Rent (000's) · Average Base Rent (Per SF)(1) · Key Tenants | ||||||||
|---|---|---|---|---|---|---|---|---|
| Arizona | ||||||||
| 1 | Chandler, AZ | Chandler Center | 2016 | 2022 | 7 | $302 | $43.58 | — |
| 2 | Mesa, AZ | Shops at Power and Baseline | 2016 | 2022 | 4 | $214 | $56.22 | — |
| 3 | Peoria, AZ | Shops at Lake Pleasant | 2023 | 2023 | 47 | $1,806 | $40.05 | — |
| 4 | Phoenix, AZ | Ahwatukee Foothills Towne Center(2) | 2013 | 1998 | 691 | $12,280 | $18.17 | AMC Theatres, Best Buy, Big Lots, Burlington, HomeGoods, JOANN, Lina Home Furnishings, Marshalls, Michaels, OfficeMax, Ross Dress for Less, Sprouts Farmers Market |
| 5 | Phoenix, AZ | Arrowhead Crossing | 1995 | 1996 | 353 | $5,897 | $16.88 | Burlington, DSW, Golf Galaxy, Hobby Lobby, HomeGoods, Nordstrom Rack, Staples, T.J. Maxx |
| 6 | Phoenix, AZ | Deer Valley Towne Center | 1996 | 1999 | 190 | $3,843 | $20.82 | Michaels, PetSmart, Ross Dress for Less |
| 7 | Phoenix, AZ | Paradise Village Gateway | 2004 | 2003 | 295 | $4,811 | $26.16 | PetSmart, Ross Dress for Less, Sun & Ski Sports |
| 8 | Scottsdale, AZ | Artesia Village | 2007 | 2022 | 21 | $872 | $40.85 | — |
| 9 | Scottsdale, AZ | Northsight Plaza | 2004 | 2022 | 10 | $333 | $34.46 | — |
| 10 | Tempe, AZ | Broadway Center | 2015 | 2022 | 11 | $392 | $36.68 | — |
| California | ||||||||
| 11 | Fontana, CA | Falcon Ridge Town Center | 2005 | 2013 | 277 | $6,540 | $23.61 | 24 Hour Fitness, Michaels, Ross Dress for Less, Stater Bros Markets |
| 12 | Lafayette, CA | La Fiesta Square | 1993 | 2022 | 53 | $2,211 | $54.99 | — |
| 13 | Lafayette, CA | Lafayette Mercantile | 2006 | 2022 | 22 | $1,210 | $55.92 | — |
| 14 | Long Beach, CA | The Pike Outlets(3) | 2015 | DEV | 389 | $6,234 | $24.81 | Cinemark, H & M, Nike, Restoration Hardware |
| 15 | Oakland, CA | Whole Foods at Bay Place | 2006 | 2013 | 57 | $2,919 | $51.02 | Whole Foods |
| 16 | Richmond, CA | Hilltop Plaza(2) | 2000 | 2002 | 246 | $3,387 | $15.76 | 99 Cents Only, Century Theatre, City Sports Club, dd's Discounts, Ross Dress for Less |
| 17 | Roseville, CA | Creekside Plaza | 2007 | 2014 | 32 | $1,317 | $42.04 | — |
| 18 | Roseville, CA | Ridge at Creekside | 2007 | 2014 | 243 | $4,449 | $27.40 | Macy's Furniture Gallery, REI, World Market |
| Colorado | ||||||||
| 19 | Centennial, CO | Centennial Promenade | 2002 | 1997 | 443 | $7,313 | $20.83 | American Freight, Conn's, Golf Galaxy, HomeGoods, Michaels, Ross Dress for Less, Stickley Furniture, Total Wine & More |
| 20 | Colorado Springs, CO | Chapel Hills East | 2000 | 2011 | 225 | $3,210 | $14.28 | Barnes & Noble, Best Buy, DSW, Nordstrom Rack, Old Navy, Pep Boys, Whole Foods |
| 21 | Colorado Springs, CO | Chapel Hills West | 1996 | 2014 | 225 | $2,179 | $12.12 | Burlington, PetSmart, Ross Dress for Less, Urban Air Adventure Park |
| 22 | Denver, CO | Parker Keystone | 2018 | 2023 | 17 | $640 | $40.73 | — |
| 23 | Denver, CO | Shops on Montview | 2020 | 2022 | 9 | $324 | $37.90 | — |
| 24 | Denver, CO | University Hills | 1997 | 2003 | 236 | $4,979 | $21.52 | King Soopers, Marshalls, Michaels |
| 25 | Parker, CO | FlatAcres MarketCenter (3) | 2003 | 2003 | 136 | $2,016 | $17.81 | 24 Hour Fitness, Michaels |
| 26 | Parker, CO | Parker Pavilions | 2003 | 2003 | 96 | $2,083 | $22.29 | Office Depot |
| Connecticut | ||||||||
| 27 | Guilford, CT | Guilford Commons | 2015 | DEV | 129 | $1,739 | $21.95 | The Fresh Market |
| 28 | Plainville, CT | Connecticut Commons(2) | 2013 | DEV | 561 | $7,026 | $13.77 | AMC Theatres, Dick's Sporting Goods, DSW, Kohl's, Lowe's, Marshalls, PetSmart |
| Location · Center · Year Developed/Redeveloped · Year Acquired · Owned GLA (000's) · Total Annualized Base Rent (000's) · Average Base Rent (Per SF)(1) · Key Tenants | ||||||||
|---|---|---|---|---|---|---|---|---|
| Florida | ||||||||
| 29 | Boca Raton, FL | Shops at Boca Center | 1986 | 2022 | 117 | $4,492 | $42.07 | Total Wine & More |
| 30 | Boynton Beach, FL | Village Square at Golf | 2002 | 2007 | 135 | $2,051 | $17.09 | KC Mart |
| 31 | Brandon, FL | Lake Brandon Village | 2004 | 2003 | 114 | $1,765 | $15.48 | PetSmart, Scandinavian Designs, Sprouts Farmers Market |
| 32 | Brandon, FL | The Collection at Brandon Boulevard(3) | 2021 | DEV | 222 | $3,068 | $13.80 | Bealls OUTLET, Chuck E. Cheese's, Crunch Fitness, Kane's Furniture |
| 33 | Casselberry, FL | Casselberry Commons | 2010 | 2007 | 245 | $3,524 | $16.10 | Burlington, Publix, Ross Dress for Less, T.J. Maxx |
| 34 | Delray Beach, FL | Shoppes at Addison Place | 2000 | 2021 | 56 | $2,476 | $47.05 | — |
| 35 | Estero, FL | Estero Crossing | 2022 | 2023 | 34 | $986 | $33.66 | — |
| 36 | Fort Walton Beach, FL | Shoppes at Paradise Pointe | 2000 | 2007 | 73 | $800 | $12.73 | Publix |
| 37 | Jupiter, FL | Concourse Village | 2004 | 2015 | 134 | $2,520 | $19.04 | Ross Dress for Less, T.J. Maxx |
| 38 | Miami, FL | The Shops at Midtown Miami | 2006 | DEV | 467 | $10,611 | $23.15 | Dick's Sporting Goods, HomeGoods, Marshalls, Nordstrom Rack, Ross Dress for Less, Target, west elm |
| 39 | Naples, FL | Carillon Place | 1994 | 1995 | 265 | $3,939 | $16.00 | Bealls OUTLET, DSW, OfficeMax, Ross Dress for Less, T.J. Maxx, Walmart Market |
| 40 | Orlando, FL | Lee Vista Promenade | 2016 | 2018 | 314 | $5,343 | $17.58 | Academy Sports, Bealls OUTLET, Epic Theatres, HomeGoods, Michaels, Ross Dress for Less |
| 41 | Orlando, FL | Millenia Crossing | 2009 | 2015 | 100 | $2,353 | $24.39 | Nordstrom Rack |
| 42 | Palm Harbor, FL | The Shoppes of Boot Ranch | 1990 | 1995 | 52 | $1,402 | $29.14 | — |
| 43 | Plantation, FL | The Fountains | 2010 | 2007 | 430 | $6,857 | $16.93 | Dick's Sporting Goods, JOANN, Kohl's, Marshalls/HomeGoods, Total Wine & More, Urban Air Trampoline & Adventure Park |
| 44 | Tamarac, FL | Midway Plaza | 1985 | 2007 | 228 | $2,909 | $14.95 | Publix, Ross Dress for Less |
| 45 | Tampa, FL | Southtown Center | 2005 | IPO | 44 | $1,433 | $39.35 | — |
| 46 | Winter Garden, FL | Winter Garden Village | 2007 | 2013 | 759 | $16,794 | $22.35 | Bealls, Best Buy, Burlington, Forever 21, Havertys, JOANN, LA Fitness, Market By Macy's, Marshalls, PetSmart, Ross Dress for Less, Staples |
| Georgia | ||||||||
| 47 | Alpharetta, GA | Alpha Soda Center | 2021 | 2023 | 15 | $585 | $39.98 | — |
| 48 | Alpharetta, GA | Shoppes of Crabapple | 2006 | 2022 | 8 | $248 | $29.63 | — |
| 49 | Atlanta, GA | Hammond Springs | 2008 | 2021 | 69 | $2,123 | $31.67 | — |
| 50 | Atlanta, GA | Parkwood Shops | 1996 | 2022 | 20 | $423 | $24.62 | — |
| 51 | Atlanta, GA | Perimeter Pointe | 2002 | 1995 | 360 | $4,056 | $17.46 | Dick's Sporting Goods, HomeGoods, LA Fitness, Regal Cinemas |
| 52 | Cumming, GA | Cumming Marketplace | 1999 | 2003 | 310 | $4,425 | $14.34 | Lowe's, Marshalls, Michaels, OfficeMax |
| 53 | Cumming, GA | Cumming Town Center | 2007 | 2013 | 311 | $4,899 | $16.85 | Ashley Furniture HomeStore, Best Buy, Burlington, Dick's Sporting Goods, T.J. Maxx/HomeGoods |
| 54 | Douglasville, GA | Market Square | 1990 | 2007 | 125 | $1,625 | $13.31 | Aaron's |
| 55 | Kennesaw, GA | Barrett Corners | 2022 | 2023 | 19 | $881 | $47.14 | — |
| 56 | Marietta, GA | Towne Center Prado(2) | 2002 | 1995 | 287 | $3,467 | $12.92 | Going Going Gone, Publix, Ross Dress for Less |
| 57 | Roswell, GA | Sandy Plains Village | 2013 | 2007 | 174 | $2,384 | $14.32 | Movie Tavern, Painted Tree Marketplace |
| 58 | Snellville, GA | Presidential Commons | 2000 | 2007 | 274 | $3,740 | $16.18 | Burlington, JOANN, Kroger |
| 59 | Snellville, GA | Presidential Plaza North | 2023 | 2023 | 11 | $460 | $42.50 | — |
| 60 | Suwanee, GA | Johns Creek Town Center | 2004 | 2003 | 303 | $4,918 | $16.48 | HomeGoods, Kohl's, Market By Macy's, Michaels, PetSmart, Sprouts Farmers Market |
| Location · Center · Year Developed/Redeveloped · Year Acquired · Owned GLA (000's) · Total Annualized Base Rent (000's) · Average Base Rent (Per SF)(1) · Key Tenants | ||||||||
|---|---|---|---|---|---|---|---|---|
| Illinois | ||||||||
| 61 | Chicago, IL | 3030 North Broadway | 2016 | 2017 | 132 | $4,691 | $35.61 | Mariano's, XSport Fitness |
| 62 | Chicago, IL | The Maxwell | 2014 | 2014 | 240 | $5,778 | $25.73 | Burlington, Dick's Sporting Goods, Nordstrom Rack, T.J. Maxx |
| 63 | Deer Park, IL | Deer Park Town Center(4) | 2004 | DEV | 357 | $9,001 | $33.42 | Century Theatre, Crate & Barrel, Gap |
| 64 | Schaumburg, IL | Woodfield Village Green | 2015 | 1995 | 360 | $8,352 | $23.69 | Bloomingdale's The Outlet Store, Container Store, HomeGoods, Marshalls, Michaels, Nordstrom Rack, PetSmart, Sierra Trading Post, Trader Joe's |
| 65 | Tinley Park, IL | Brookside Marketplace(2) | 2013 | 2012 | 317 | $4,632 | $15.82 | Best Buy, Dick's Sporting Goods, HomeGoods, Michaels, PetSmart, Ross Dress for Less, T.J. Maxx |
| Maryland | ||||||||
| 66 | Timonium, MD | Foxtail Center | 1997 | 2023 | 30 | $1,039 | $34.63 | — |
| Massachusetts | ||||||||
| 67 | Framingham, MA | Shops at Framingham | 1994 | 1995 | 19 | $957 | $56.90 | — |
| Missouri | ||||||||
| 68 | Brentwood, MO | The Promenade at Brentwood | 1998 | 1998 | 338 | $5,435 | $16.09 | Burlington, Micro Center, PetSmart, Target, Trader Joe's |
| 69 | Independence, MO | Independence Commons(2) | 1999 | 1995 | 386 | $5,544 | $15.39 | AMC Theatres, Best Buy, Bob's Discount Furniture, Kohl's, Marshalls, Ross Dress for Less |
| New Jersey | ||||||||
| 70 | East Hanover, NJ | East Hanover Plaza | 1994 | 2007 | 98 | $2,093 | $21.35 | HomeGoods, HomeSense |
| 71 | Edgewater, NJ | Edgewater Towne Center | 2000 | 2007 | 76 | $2,160 | $31.46 | Whole Foods |
| 72 | Freehold, NJ | Freehold Marketplace | 2005 | DEV | 21 | $768 | $37.18 | — |
| 73 | Hamilton, NJ | Hamilton Marketplace | 2004 | 2003 | 541 | $10,757 | $20.66 | Barnes & Noble, Burlington, Kohl's, Michaels, Ross Dress for Less, ShopRite, Staples |
| 74 | Princeton, NJ | Nassau Park Pavilion | 2021 | 1997 | 757 | $11,141 | $15.90 | At Home, Best Buy, Burlington, Dick's Sporting Goods, HomeGoods, HomeSense, Michaels, PetSmart, Raymour & Flanigan, T.J. Maxx, Wegmans |
| 75 | Union, NJ | Route 22 Retail Center(2) | 1997 | 2007 | 112 | $1,844 | $16.43 | Big Lots, Dick's Sporting Goods |
| 76 | Voorhees, NJ | Echelon Village Plaza | 2002 | 2015 | 89 | $1,049 | $13.46 | The Edge Fitness Clubs |
| New York | ||||||||
| 77 | Hempstead, NY | The Hub | 2001 | 2015 | 249 | $3,312 | $13.41 | Home Depot, Stop & Shop |
| North Carolina | ||||||||
| 78 | Chapel Hill, NC | Meadowmont Village(2) | 2002 | 2007 | 185 | $2,149 | $22.62 | Harris Teeter |
| 79 | Charlotte, NC | Belgate Plaza | 2017 | DEV | 20 | $738 | $36.46 | — |
| 80 | Charlotte, NC | Belgate Shopping Center | 2017 | 2013 | 269 | $4,330 | $16.08 | Burlington, Cost Plus World Market, Hobby Lobby, Marshalls, Old Navy, PetSmart, T.J. Maxx |
| Location · Center · Year Developed/Redeveloped · Year Acquired · Owned GLA (000's) · Total Annualized Base Rent (000's) · Average Base Rent (Per SF)(1) · Key Tenants | ||||||||
|---|---|---|---|---|---|---|---|---|
| 81 | Charlotte, NC | Carolina Pavilion | 1997 | 2012 | 701 | $8,947 | $14.75 | AMC Theatres, American Freight Outlet Stores, AutoZone, Big Lots, Burlington, Conn's, Floor & Decor,Frontgate Outlet Store, JOANN, Nordstrom Rack, Old Navy, Ross Dress for Less, Value City Furniture |
| 82 | Charlotte, NC | Point at University | 2022 | 2023 | 14 | $558 | $38.58 | — |
| 83 | Cornelius, NC | The Shops at The Fresh Market | 2001 | 2007 | 132 | $2,335 | $17.94 | HomeSense, The Fresh Market, Total Wine & More |
| 84 | Raleigh, NC | Poyner Place(2) | 2012 | 2012 | 252 | $4,037 | $16.68 | Cost Plus World Market, Marshalls, Michaels, Ross Dress for Less, Urban Air Trampoline & Adventure Park |
| 85 | Wilmington, NC | University Centre(2) | 2001 | IPO | 418 | $3,734 | $10.83 | Lowe's, Old Navy, Ollie's Bargain Outlet, Ross Dress for Less |
| Ohio | ||||||||
| 86 | Cincinnati, OH | Kenwood Square | 2017 | 2013 | 427 | $7,617 | $17.95 | Big Sandy Superstore, Dick's Sporting Goods, Macy's Furniture Gallery, Marshalls/HomeGoods, Michaels, T.J. Maxx, The Fresh Market |
| 87 | Columbus, OH | Easton Market | 2013 | 1998 | 502 | $7,542 | $15.89 | Burlington, DSW, HomeGoods, Marshalls, Michaels, Nordstrom Rack, PetSmart, Ross Dress for Less, Sierra Trading Post, T.J. Maxx, Value City Furniture |
| 88 | Columbus, OH | Polaris Towne Center | 1999 | 2011 | 459 | $7,516 | $17.03 | Best Buy, Big Lots, JOANN, Kroger, OfficeMax, T.J. Maxx |
| 89 | Stow, OH | Stow Community Center | 2008 | DEV | 406 | $4,901 | $12.49 | Giant Eagle, Hobby Lobby, HomeGoods, Kohl's, T.J. Maxx |
| Oregon | ||||||||
| 90 | Hillsboro, OR | Tanasbourne Town Center | 2001 | 1996 | 291 | $4,605 | $24.80 | Marshalls, Michaels, Ross Dress for Less, Sierra Trading Post |
| 91 | Portland, OR | The Blocks | 2001 | 2019 | 97 | $2,428 | $36.07 | — |
| Pennsylvania | ||||||||
| 92 | Easton, PA | Southmont Plaza | 2004 | 2015 | 251 | $3,314 | $16.81 | Barnes & Noble, Best Buy, Dick's Sporting Goods, Michaels, Staples |
| South Carolina | ||||||||
| 93 | Charleston, SC | Ashley Crossing(2) | 2011 | 2003 | 208 | $2,253 | $11.36 | Food Lion, JOANN, Kohl's, Marshalls |
| Tennessee | ||||||||
| 94 | Brentwood, TN | Cool Springs Pointe | 2004 | 2000 | 198 | $3,179 | $16.05 | Best Buy, Restoration Hardware, Ross Dress for Less |
| Texas | ||||||||
| 95 | Austin, TX | Oaks at Slaughter | 2021 | 2023 | 26 | $857 | $35.43 | — |
| 96 | Highland Village, TX | The Marketplace at Highland Village | 2007 | 2013 | 207 | $3,531 | $18.57 | DSW, LA Fitness, T.J. Maxx/HomeGoods |
| 97 | Houston, TX | Briarcroft Center | 2006 | 2023 | 33 | $1,332 | $41.25 | — |
| 98 | Houston, TX | Marketplace at 249 | 2022 | 2023 | 17 | $638 | $38.36 | — |
| 99 | Houston, TX | Shops at Tanglewood | 2019 | 2022 | 26 | $938 | $48.55 | — |
| 100 | Round Rock, TX | Vintage Plaza | 2003 | 2019 | 41 | $1,039 | $27.90 | — |
| 101 | San Antonio, TX | Bandera Pointe | 2002 | DEV | 441 | $4,876 | $11.46 | Barnes & Noble, Gold's Gym, JOANN, Lowe's, Old Navy, PetSmart, Ross Dress for Less, T.J. Maxx, Urban Air Trampoline & Adventure Park |
| 102 | San Antonio, TX | Shops at Bandera Pointe | 2002 | 2002 | 48 | $1,159 | $25.69 | — |
| 103 | San Antonio, TX | Village at Stone Oak | 2007 | DEV | 442 | $6,859 | $18.89 | Alamo Drafthouse Cinema, Hobby Lobby, HomeGoods, Ross Dress for Less |
| Location · Center · Year Developed/Redeveloped · Year Acquired · Owned GLA (000's) · Total Annualized Base Rent (000's) · Average Base Rent (Per SF)(1) · Key Tenants | ||||||||
|---|---|---|---|---|---|---|---|---|
| Virginia | ||||||||
| 104 | Charlottesville, VA | Emmet Street North | 2020 | 2021 | 2 | $182 | $78.55 | — |
| 105 | Charlottesville, VA | Emmet Street Station | 2018 | 2021 | 11 | $513 | $54.50 | — |
| 106 | Fairfax, VA | Boulevard Marketplace | 2012 | 2022 | 19 | $742 | $41.48 | — |
| 107 | Fairfax, VA | Fairfax Marketplace | 2008 | 2022 | 19 | $1,099 | $58.26 | — |
| 108 | Fairfax, VA | Fairfax Pointe | 2010 | 2022 | 10 | $524 | $49.91 | — |
| 109 | Fairfax, VA | Fairfax Towne Center | 1994 | 1995 | 253 | $3,167 | $25.60 | JOANN, Regal Cinemas, Safeway, T.J. Maxx |
| 110 | Midlothian, VA | Commonwealth Center(2) | 2002 | 2007 | 166 | $2,505 | $15.94 | Michaels, Painted Tree Marketplace, The Fresh Market |
| 111 | Midlothian, VA | Towne Crossing Shops | 2003 | 2023 | 7 | $282 | $39.79 | — |
| 112 | Richmond, VA | Downtown Short Pump | 2000 | 2007 | 126 | $2,809 | $22.30 | Barnes & Noble, Regal Cinemas |
| 113 | Richmond, VA | White Oak Village | 2008 | 2014 | 432 | $6,567 | $16.45 | JCPenney, K&G Fashion Superstore, Michaels, PetSmart, Publix |
| 114 | Springfield, VA | Springfield Center | 1999 | 2007 | 177 | $3,210 | $23.12 | Barnes & Noble, DSW, Marshalls, Michaels, The Tile Shop |
(1)
Calculated as total annualized base rentals divided by Company-owned rent commenced GLA as of December 31, 2023.
(2)
SITE ownership interest at 20%.
(3)
Indicates the asset or a portion of the asset is subject to a ground lease. All other assets are owned fee simple.
(4)
SITE ownership interest at 50%.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.