Curbline Properties Corp.

For the period ended Dec 31, 2025. Filed Feb 10, 2026.

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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.

FY2025 · Filed Feb 10, 2026

CURB$29.73+1.2%Stored close · as of Nov 9, 2026

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Contents

Item 2. Properties

At December 31, 2025, the Company owned 176 convenience shopping centers aggregating 4.8 million square feet of GLA. These centers are principally located in suburban, higher household income communities and are geographically diversified, principally across the Southeast, Mid-Atlantic, Southwest and Mountain regions, along with Texas. As of December 31, 2025, the average GLA of a property in the Curbline portfolio was approximately 27,000 square feet with 94% of base rent generated by units less than 10,000 square feet.

At December 31, 2025, the average ABR per occupied square foot of the Company’s 176 shopping centers was $34.52. The Company’s average ABR per occupied square foot does not include ancillary or variable rental income or tenant expense reimbursements. In 2025, the Curbline portfolio achieved cash blended leasing spreads of 11.5% for both new leases and renewals on comparable leases.

Convenience shopping centers are generally positioned on the curbline of well-trafficked intersections and major vehicular corridors, offering excellent access and visibility, dedicated parking and often include drive-thru units, with approximately half of the Company’s properties having at least one drive-thru unit as of December 31, 2025. The properties generally consist of a homogenous row of primarily small-shop units leased to a diversified mixture of national, regional and local service and restaurant tenants that cater to daily convenience trips from the growing suburban population. The property type’s standardized site plans and the depth of leasing prospects that can utilize existing square footage generally reduce operating capital expenditures relative to other retail real estate formats and provide significant tenant diversification.

Information as to the Company’s largest tenants based on total ABR and Company-owned GLA at December 31, 2025, is set forth in Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” under the caption “Executive Summary – Tenant Demand and Company Fundamentals” of this Annual Report on Form 10-K. The Company’s properties range in size from approximately 2,000 square feet to approximately 134,000 square feet of Company-owned GLA. The Company’s properties were 94.1% occupied as of December 31, 2025.

Tenant Lease Expirations and Renewals

The following table shows the impact of tenant lease expirations through 2035 at the Company’s 176 convenience 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
2026	211	487	$16,248	$33.36	10.1%	10.5%
2027	219	526	18,509	35.19	11.0%	11.9%
2028	272	764	25,491	33.37	15.9%	16.5%
2029	197	471	15,722	33.38	9.8%	10.1%
2030	195	536	18,684	34.86	11.2%	12.0%
2031	102	256	8,521	33.29	5.3%	5.5%
2032	117	330	11,793	35.74	6.9%	7.6%
2033	117	350	12,455	35.59	7.3%	8.0%
2034	121	349	13,249	37.96	7.3%	8.5%
2035	67	188	6,974	37.10	3.9%	4.5%
Total	1,618	4,257	$147,646	$34.68	88.7%	95.1%

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 · Owned GLA (000’s) · Total Annualized Base Rent (000’s)
Alabama
1	Alabaster, AL	Promenade Plaza	13	$369
2	Alabaster, AL	Shoppes at Alabaster	12	$293
3	Huntsville, AL	Hampton Cove Corner	14	$345
4	Madison, AL	Madison Station	28	$612
5	Montgomery, AL	Eastchase Point	8	$203
6	Opelika, AL	Shops at Tiger Town	10	$258
7	Saraland, AL	Shops at Saraland	10	$204
Arizona
8	Chandler, AZ	Chandler Center	7	$302
9	Gilbert, AZ	Shops at Gilbert Crossroads	18	$633
10	Laveen, AZ	Corner at Laveen Spectrum	15	$623
11	Mesa, AZ	Shops at Power and Baseline	4	$214
12	Mesa, AZ	Shops on Dobson	7	$179
13	Peoria, AZ	Shops at Lake Pleasant	47	$1,856
14	Phoenix, AZ	Deer Valley Plaza	38	$1,108
15	Phoenix, AZ	Paradise Village Plaza	84	$2,925
16	Phoenix, AZ	Red Mountain Corner	6	$116
17	Phoenix, AZ	Shops on 35th	12	$294
18	Scottsdale, AZ	Artesia Village	21	$918
19	Scottsdale, AZ	Northsight Plaza	10	$372
20	Surprise, AZ	Shops at Prasada North	33	$1,847
21	Tempe, AZ	Broadway Center	11	$368
22	Tucson, AZ	Shops at the Bridges	14	$595
California
23	Carson, CA	Shops at Carson Town Center	13	$442
24	Chino Hills, CA	Crossroads Marketplace	77	$2,474
25	Citrus Heights, CA	Shops at Sunrise Oaks	16	$379
26	Fontana, CA	Shops on Summit	27	$1,270
27	Lafayette, CA	La Fiesta Square	75	$3,056
28	Lafayette, CA	Lafayette Mercantile	54	$2,979
29	Oceanside, CA	Loma Alta Station	35	$696
30	Rancho Santa Margarita, CA	Santa Margarita Market Place	29	$1,340
31	Roseville, CA	Creekside Plaza	32	$1,130
32	Roseville, CA	Creekside Shops	57	$2,332
33	San Bruno, CA	Avalon Crossing	12	$591
Colorado
34	Arvada, CO	Shops at Olde Town Station	15	$608
35	Aurora, CO	Tower Pavilion	11	$346
36	Colorado Springs, CO	Shops at Falcon Landing	62	$1,844
37	Colorado Springs, CO	Springs Ranch Center	44	$842
38	Denver, CO	Parker Keystone	17	$664
39	Denver, CO	Shops at University Hills	26	$905
40	Denver, CO	Shops on Montview	9	$264
41	Erie, CO	Nine Mile Corner	31	$1,205
42	Parker, CO	Parker Station	45	$1,236

Location · Center · Owned GLA (000’s) · Total Annualized Base Rent (000’s)
Florida
43	Boca Raton, FL	Shops at Boca Center	117	$5,319
44	Brandon, FL	Shops at Lake Brandon	12	$489
45	Casselberry, FL	Shops at Casselberry	8	$323
46	Delray Beach, FL	Shoppes at Addison Place	56	$2,015
47	Estero, FL	Estero Crossing	34	$1,155
48	Jacksonville, FL	Carrie Plaza	26	$623
49	Jacksonville, FL	Deerwood Station	31	$817
50	Jacksonville, FL	Oakleaf Crossing	31	$1,063
51	Jacksonville, FL	Roosevelt Plaza	59	$1,356
52	Jupiter, FL	Concourse Village	134	$2,649
53	Miami, FL	Collection at Midtown Miami	119	$5,020
54	Naples, FL	Shops at Carillon	15	$429
55	Orlando, FL	Narcoossee Cove North	16	$809
56	Palm Harbor, FL	Shoppes of Boot Ranch	52	$1,392
57	Plantation, FL	Shops at the Fountains	14	$551
58	Royal Palm Beach, FL	Cypress Key Shoppes	26	$963
59	Seminole, FL	Shops at Bay Pines	9	$291
60	St. Augustine, FL	Ponce de Leon Plaza	25	$770
61	St. Augustine, FL	Southlake Plaza	32	$855
62	St. Johns, FL	Julington Station	31	$739
63	St. Petersburg, FL	Roundlake Plaza	11	$448
64	Tamarac, FL	Shops at Midway	10	$477
65	Tampa, FL	Southtown Center	44	$1,773
66	Vero Beach, FL	Sunrise Plaza	16	$430
67	Windemere, FL	Westside Shoppes	70	$2,560
68	Winter Garden, FL	Shops at the Grove	131	$5,358
Georgia
69	Acworth, GA	Caliber Point	11	$357
70	Alpharetta, GA	Alpha Soda Center	15	$497
71	Alpharetta, GA	Orchard Village	10	$202
72	Alpharetta, GA	Shoppes of Crabapple	8	$261
73	Atlanta, GA	Brookhaven Station	44	$1,568
74	Atlanta, GA	Hammond Springs	69	$2,089
75	Atlanta, GA	Parkwood Shops	20	$499
76	Braselton, GA	Mulberry Walk	31	$688
77	Covington, GA	Shops at Covington Corner	14	$415
78	Cumming, GA	Marketplace Plaza North	37	$1,047
79	Cumming, GA	Marketplace Plaza South	44	$1,263
80	Cumming, GA	Shoppes at Brannon Crossing	61	$1,668
81	Dawsonville, GA	Dawson Marketplace Plaza	10	$461
82	Douglasville, GA	Plaza at Market Square	9	$139
83	Hiram, GA	Shoppes of Hiram	13	$280
84	Kennesaw, GA	Barrett Corners	19	$857
85	Kennesaw, GA	University Point	13	$430
86	McDonough, GA	Corner at Avalon	19	$492
87	McDonough, GA	Shoppes at Avalon	12	$338
88	Roswell, GA	Crabapple Place	9	$196
89	Roswell, GA	Roswell Market Center	82	$1,338
90	Savannah, GA	Shops at Victory Square	11	$249
91	Snellville, GA	Presidential Plaza North	11	$460
92	Snellville, GA	Presidential Plaza South	10	$414
93	Snellville, GA	Scenic Plaza	20	$601
94	Suwanee, GA	Laurel Springs Village	22	$446
95	Woodstock, GA	Shoppes of Woodstock	24	$520
Illinois
96	Chicago, IL	Shops on North Avenue	3	$151
97	Elmwood Park, IL	Elmwood Commons	17	$391
98	Naperville, IL	Pebblewood Commons	20	$535
99	Oak Park, IL	Shops on North Avenue East	36	$727
100	Orland Park, IL	Orland Park Center	9	$217
101	Wilmette, IL	Wilmette Center	9	$280

Location · Center · Owned GLA (000’s) · Total Annualized Base Rent (000’s)
Indiana
102	Carmel, IN	Shops at West Carmel Marketplace	32	$762
103	Indianapolis, IN	Cherry Tree Crossing	14	$423
104	Indianapolis, IN	College Park Corner	12	$474
105	Avon, IN	Gables of Avon Plaza	8	$274
Maryland
106	Timonium, MD	Foxtail Center	30	$1,158
Massachusetts
107	Framingham, MA	Shops at Framingham	19	$1,164
Michigan
108	Macomb, MI	Mill River Marketplace	11	$339
Minnesota
109	Coon Rapids, MN	Shops at Riverdale Commons	10	$544
Missouri
110	Independence, MO	Independence Point	7	$299
Nevada
111	Las Vegas, NV	The Monterey	42	$1,488
New Jersey
112	Freehold, NJ	Freehold Marketplace	21	$785
113	Hamilton, NJ	Shops at Hamilton	62	$1,903
114	Voorhees, NJ	Shops at Echelon Village	4	$204
New Mexico
115	Albuquerque, NM	Shops at Wyoming Mall	45	$1,102
New York
116	Huntington Station, NY	Jericho Crossing	13	$607
North Carolina
117	Asheville, NC	Corner at 240	18	$306
118	Chapel Hill, NC	Meadowmont Village	58	$1,439
119	Charlotte, NC	Belgate Plaza	21	$754
120	Charlotte, NC	Carolina Station	10	$401
121	Charlotte, NC	Point at University	14	$560
122	Charlotte, NC	Shoppes at Harris Corners	17	$390
123	Cornelius, NC	Cornelius Crossing	22	$349
124	Cornelius, NC	Shops at the Fresh Market	132	$2,422
125	Indian Trail, NC	Plaza at Sun Valley	11	$242
126	Kernersville, NC	Shoppes at Main Street Market	13	$443
127	Winston-Salem, NC	Parkway Village	13	$258
Ohio
128	Avon, OH	French Creek Square	37	$929
129	Avon, OH	Shops at Healthway	11	$483
130	Cincinnati, OH	Shops at Harpers Station	16	$707
131	Columbus, OH	Shops on Polaris(1)	71	$2,547
132	Middleburg Heights, OH	Pearl Plaza	16	$618
133	Oregon, OH	Navarre Crossing	15	$390
134	Westlake, OH	Crocker Commons	29	$1,170
135	Worthington, OH	Worthington Plaza	11	$440

Location · Center · Owned GLA (000’s) · Total Annualized Base Rent (000’s)
Oregon
136	Hillsboro, OR	Shops at Tanasbourne(1)	8	$294
Pennsylvania
137	Philadelphia, PA	Aramingo Assemblage	23	$671
South Carolina
138	Beaufort, SC	Sea Island Shops	20	$406
139	Irmo, SC	Lake Murray Boulevard Shops	12	$339
140	Lexington, SC	Sunset Crossing	13	$472
141	Lexington, SC	Sunset Plaza	11	$260
Tennessee
142	Collierville, TN	Houston Levee Galleria	66	$1,502
143	Hendersonville, TN	Maple Corner	20	$525
Texas
144	Allen, TX	Plaza at Stacy Green	24	$964
145	Arlington, TX	Village at Ballpark	23	$527
146	Austin, TX	Oaks at Slaughter	26	$936
147	Conroe, TX	Grove at Harper's Preserve	21	$595
148	Dallas, TX	Mockingbird Central Plaza	80	$1,959
149	Houston, TX	Briarcroft Center	33	$1,441
150	Houston, TX	Marketplace at 249	17	$523
151	Houston, TX	Shops at Tanglewood	26	$897
152	Houston, TX	Village Plaza	42	$1,525
153	Magnolia, TX	Magnolia Point	54	$1,972
154	Magnolia, TX	Woodlands Crossing	11	$350
155	Pasadena, TX	Fairway Crossing	50	$1,858
156	Pearland, TX	Silverlake Center	25	$864
157	Round Rock, TX	Vintage Plaza	41	$1,127
158	San Antonio, TX	Bandera Corner	3	$67
159	San Antonio, TX	Shops at Bandera Pointe	48	$1,194
Virginia
160	Charlottesville, VA	Emmet Street North	2	$182
161	Charlottesville, VA	Emmet Street Station	11	$577
162	Charlottesville, VA	Shops at Rivanna Plaza	32	$937
163	Fairfax, VA	Boulevard Marketplace	19	$843
164	Fairfax, VA	Fairfax Marketplace	19	$1,133
165	Fairfax, VA	Fairfax Pointe	10	$541
166	Fredericksburg, VA	Southpoint Square	10	$248
167	Midlothian, VA	Towne Crossing Shops	7	$286
168	Richmond, VA	White Oak Plaza	34	$1,023
Washington
169	Auburn, WA	Ellingson Crossing	15	$488
170	Bellingham, WA	Samish Corner	9	$317
171	Lacey, WA	Shops at Lacey Marketplace	32	$1,295
172	Seattle, WA	University Village Crossing	4	$153
173	Seattle, WA	Village at Maple Leaf	6	$187
174	Vancouver, WA	Salmon Creek Square	22	$669
Wisconsin
175	West Allis, WI	Shops at Highway 100	14	$366
176	West Allis, WI	Shops at Highway 100 North	14	$351

(1)

Indicates the asset or a portion of the asset is subject to a ground lease. All other assets are owned fee simple.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.