10-K – 2026-02-13 – reg-20251231.htm

with respect to climate change may be enacted or brought in the future, and the extent and scope of their requirements and impact on companies like Regency are unknown. While many of our investments relating to GHG emission reduction, energy efficient lighting, building systems upgrades, clean energy installations, water usage reduction and other similar initiatives provide favorable returns and contribute to the resilience of our assets and sustainability of our business, compliance with numerous, potentially fragmented current and future laws and regulations related to perceived risks of climate change has required us to make additional investments and incur additional costs, as well as to implement new or additional processes and controls to facilitate better disclosure and meet compliance and disclosure obligations, and we expect this to continue into the future.
In sum, taking these risks and potential impacts together, climate change may materially and adversely impact our business by increasing the cost to operate our properties, for example, with respect to infrastructure and facilities construction and maintenance, energy, insurance (and, potentially, the incurrence of uninsured losses), taxes, consultants and advisors, and other unforeseen fees, costs and expenses. We may also face disruptions to our business and the businesses of our tenants, which may result in higher costs or even some tenants being unable to conduct business in certain locations. In addition, we face the risk of the impacts of current, proposed and future legislative, regulatory and other governmental policy-related requirements in response to the perceived risks of climate change, as well as the expectations of investors, lenders and other stakeholders as to disclosures and responses relating to climate-related matters. At this time, there can be no assurance that we can anticipate all potential material impacts of climate change, or that climate change and our responses to it will not have a material and adverse effect on the value of our properties and our operational and financial performance in the future.
Costs of environmental remediation may adversely impact our financial performance and reduce our cash flow.
Under various federal, state, and local laws, an owner or manager of real property may be liable for some or all the costs to assess and remediate the presence of hazardous substances on the property, which in our case most typically arise from current or former dry cleaners, gas stations, automotive repair shops, asbestos usage, and historic land use practices. These laws often impose liability without regard to whether the owner knew of, or was responsible for, the presence of hazardous substances, which may adversely impact our financial performance and reduce our cash flow. The presence of, or the failure to properly address the presence of, hazardous substances may adversely affect our ability to sell or lease the property, or borrow using the property as collateral. We can provide no assurance that we are aware of all potential environmental liabilities or their ultimate cost to address; that our properties will not be affected by tenants or nearby properties or other unrelated third parties; and that future uses or conditions, or changes in environmental laws and regulations, or their interpretation, will not result in additional material environmental liabilities to us.
Risk Factors Related to Corporate Matters
An increased and differing focus on metrics and reporting related to environmental, social and governance ("ESG") factors by investors, lenders and other stakeholders may impose additional costs and expose us to new risks.
Many investors, lenders and other stakeholders are focused on understanding how companies report on and address a variety of ESG factors, including institutional investors who hold a significant amount of the equity and debt of the Company. As they evaluate investment decisions, many investors look not only at company disclosures but also to ESG rating systems and frameworks that have been developed by third parties (such as TCFD and GRESB) to allow ESG comparisons between companies. Although we participate in some of these ratings systems, we do not participate in all such systems, and may not score as well in all of the available ratings systems as other REITs and real estate operators. Further, the criteria used in these ratings systems may conflict with each other and change frequently, and we cannot guarantee that we will be able to score well in the future. We supplement our participation in ratings systems by disclosing on our website information about our initiatives and activities, but some investors may desire additional disclosures that we do not provide. Failure to participate in certain of the third-party ratings systems, failure to score well in those ratings systems or failure to provide certain ESG disclosures or engage in certain ESG-related initiatives and actions could adversely impact us when investors compare us against similar companies in our industry, and could cause certain investors to be unwilling to invest in our stock, which could adversely impact our stock price and our ability to raise capital.
ESG disclosures may reflect aspirational goals, targets, and other expectations and assumptions, which are necessarily uncertain and may not be realized. Failure to realize (or timely achieve progress on) aspirational goals and targets could adversely affect the views of our investors, third-party ESG ratings organizations and other stakeholders, thereby potentially adversely impacting our reputation, our business and stock price (to the extent that demand for our stock declines). We may also face scrutiny by anti-ESG stakeholders for having such goals or targets, or for our participation in ESG rating or other systems. Moreover, we expect investor, lender and other stakeholder pressure to comply with these voluntary disclosure frameworks to continue, irrespective of climate-related policy decisions by the federal government. Failure to comply with government climate and other ESG-related regulations could also subject us to significant fines and penalties, including risk of litigation, as well as negative perception by stakeholders. In addition, both advocates and opponents of certain ESG matters may resort to a range of activism forms, including media campaigns, shareholder proposals, and litigation, to advance their objectives. To the extent we are subject to such activism, it may adversely impact our business.

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An uninsured loss or a loss that exceeds the insurance coverage on our properties may subject us to loss of capital and revenue on those properties.
We carry liability, fire, flood, terrorism, business interruption, and environmental insurance for our properties. Some types of losses, such as losses from named windstorms, hurricanes, earthquakes, flooding, terrorism, or wars may have more limited coverage, or in some cases, can be excluded from insurance coverage. In addition, it is possible that the availability of insurance coverage in certain geographic areas may decrease in the future or become unavailable to us, and the cost to procure such insurance may increase due to lack of market availability or other factors beyond our control. As a result, we may reduce the insurance we procure or we may elect or be compelled to self-insure or otherwise assume some or all of this risk through deductibles, retentions and other risk-sharing structures. Should a loss occur at any of our properties that is in excess of the insurance limits of our policies, we may lose part or all of our invested capital and revenues from the impacted property or properties, which may have a material adverse impact on our operating results, financial condition, and our ability to make distributions to stock and unit holders.
Terrorist activities or violence occurring at our properties also may directly affect the value of our properties through damage, destruction or loss. Insurance for such acts may be unavailable or cost more resulting in an increase to our operating expenses and adversely affect our results of operations. To the extent that our tenants are affected by such attacks and threats of violence, their businesses may be adversely affected, including their ability to continue to meet obligations under their existing leases.
Failure to attract and retain key personnel may adversely affect our business and operations.
The success of our business depends, in significant part, on the leadership and performance of our executive management team and other key personnel, and our ability to attract, retain and motivate talented employees may significantly impact our future performance. Competition for these individuals is intense, and we cannot be assured that we will retain all of our executive management team and other key personnel or that we will be able to attract and retain other highly qualified individuals for these positions in the future. Losing any key personnel may have an adverse effect on us.
Risk Factors Related to Our Partnerships and Joint Ventures
We do not have voting control over all of the properties owned in our real estate partnerships and joint ventures, so we are unable to ensure that our objectives will be pursued.
We have invested substantial capital as a partner in a number of partnerships and joint ventures to acquire, own, lease, develop or redevelop properties. These activities are subject to the same risks as our investments in our wholly-owned properties. However, these investments, and other future similar investments may involve risks that would not be present were a third party not involved, including the possibility that partners or other owners might become bankrupt, suffer a deterioration in their creditworthiness, or fail to fund their share of required capital contributions. Partners or other owners may have economic or other business interests or goals that are inconsistent with our own business interests or goals, and may be in a position to take actions contrary to our policies or objectives.
These investments, and other future similar investments, also have the potential risk of creating impasses on decisions, such as a sale or financing, because neither we nor our partner or other owner has full control over the partnership or joint venture. Disputes between us and partners or other owners might result in a premature termination of the applicable partnership or joint venture, or potentially litigation or arbitration, that may increase our investment and related risk as well as our costs and expenses associated with the investment, and distract management from sufficiently focusing their time and efforts on others areas of our business. In addition, we risk the possibility of being held liable for the actions of our partners or other owners. These factors may limit the return that we receive from such investments or cause our cash flows to be lower than our estimates.
The termination of our partnerships may adversely affect our cash flow, operating results, and our ability to make distributions to stock and unit holders.
If partnerships owning a significant number of properties were dissolved for any reason, we could lose the asset, property management, leasing and construction management fees from these partnerships as well as the operating income of the properties, which may adversely affect our operating results and our cash available for distribution to stock and unit holders. Certain of our partnership operating agreements provide either member the ability to elect buy/sell clauses. The election of these provisions could require us to invest additional capital to acquire the partners’ interest or to sell our share of the property thereby losing the operating income and cash flow.

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Risk Factors Related to Funding Strategies and Capital Structure
Our ability to sell properties and fund acquisitions and developments may be adversely impacted by higher market capitalization rates and lower NOI at our properties, which may adversely affect results of operations and financial condition.
As part of our funding strategy, we sell properties that no longer meet our strategic objectives or investment standards and/or those with a limited future growth profile. These sales proceeds are used to fund debt repayment, acquisition of other properties, and new developments and redevelopments. An increase in market capitalization rates (which may or may not be driven by an increase in interest rates) or a decline in NOI may cause a reduction in the value of centers identified for sale, which would have an adverse impact on the amount of cash generated. Additionally, the sale of properties resulting in significant tax gains may require higher distributions to our stockholders or payment of additional income taxes in order to maintain our REIT status.
We depend on external sources of capital, which may not be available in the future on favorable terms or at all.
To qualify as a REIT, the Parent Company must, among other things, distribute to its stockholders each year at least 90% of its REIT taxable income (excluding any net capital gains). Because of these distribution requirements, we may not be able to fund all future capital needs with income from operations. In such instances, we would rely on third-party sources of capital, which may or may not be available on favorable terms or at all. Our access to third-party sources of equity capital depends on a number of things, including the market's perception of our growth potential and our current and potential future earnings. Our access to debt depends on our credit rating, the willingness of creditors to lend to us and conditions in the capital markets. In addition to finding lenders willing to lend to us, we are dependent upon our joint venture partners to contribute their pro rata share of any amount needed to repay or refinance existing debt when lenders reduce the amount of debt our partnerships and joint ventures are eligible to refinance.
In addition, our existing debt arrangements also impose covenants that limit our flexibility in obtaining other financing. Additional equity offerings may result in substantial dilution of stockholders' interests and additional debt financing may substantially increase our degree of leverage.
Without access to external sources of capital, we would be required to pay outstanding debt with our operating cash flows and proceeds from property sales. Our operating cash flows may not be sufficient to pay our outstanding debt as it comes due and real estate investments generally cannot be sold quickly at a return we believe is appropriate. If we are required to deleverage our business with operating cash flows and proceeds from property sales, we may be forced to reduce the amount of, or eliminate altogether, our distributions to stock and unit holders or refrain from making investments in our business.
Our debt financing may adversely affect our business and financial condition.
Our ability to make scheduled payments or to refinance our indebtedness will depend primarily on our future performance, which to a certain extent is subject to economic, financial, competitive and other factors beyond our control. In addition, we do not expect to generate sufficient operating cash flow to make balloon principal payments on our debt when due. If we are unable to refinance our debt on acceptable terms, we may be forced (i) to dispose of properties, which might result in losses, or (ii) to obtain financing at unfavorable terms, either of which may reduce the cash flow available for distributions to stock and unit holders. If we cannot make required mortgage loan payments, the mortgagee may foreclose on the property securing the mortgage.
Covenants in our debt agreements may restrict our operating activities and adversely affect our financial condition.
Our unsecured notes and unsecured line of credit (the "Line") contain customary covenants, including compliance with financial ratios, such as ratio of indebtedness to total asset value and fixed charge coverage ratio. These covenants may limit our operational flexibility and our investment activities. Moreover, if we breach any of the covenants in our debt agreements, and do not cure the breach within the applicable cure period, our lenders may require us to repay the debt immediately, even in the absence of a payment default. Many of our debt arrangements, including our unsecured notes and the Line, are cross-defaulted, which means that the lenders under those debt arrangements can require immediate repayment of their debt if we breach and fail to cure a default under certain of our other material debt obligations. As a result, any default under our debt covenants may have an adverse effect on our financial condition, our results of operations, our ability to meet our obligations, and the market value of our stock.

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Hedging activity may expose us to risks, including the risks that a counterparty will not perform and that the hedge will not yield the economic benefits we anticipate, which may adversely affect us.
We manage our exposure to interest rate volatility by using interest rate hedging arrangements. These arrangements involve risk, such as the risk that counterparties may fail to honor their obligations under these arrangements, and that these arrangements may not be effective in reducing our exposure to interest rate changes. There can be no assurance that our hedging arrangements will qualify for hedge accounting or that our hedging activities will have the desired beneficial impact on our results of operations. Should we desire to terminate a hedging arrangement, there may be significant costs and cash requirements involved to fulfill our obligations under the hedging arrangement. In addition, failure to effectively hedge against interest rate changes may adversely affect our results of operations.

Risk Factors Related to Information Management and Technology
The unauthorized access, use, theft or destruction of tenant or employee personal, financial or other data, or of Regency's proprietary or confidential information stored in our information systems or by third parties on our behalf, could impact operations, and expose us to potential liabilities and material adverse financial impact.
Many of our information technology systems (including the systems of our real estate partners and other third-party business partners and service providers) contain personal, financial or other information that is entrusted to us by our tenants, employees and business partners. Many of our information technology systems contain our proprietary information and other confidential information related to our business.
Like all companies, we face numerous and evolving cybersecurity risks that threaten the confidentiality, integrity and availability of our information technology systems and confidential information, including from diverse threat actors, such as state-sponsored organizations, opportunistic hackers and hacktivists, and through diverse attack vectors, such as social engineering/phishing, malware (including ransomware), "deep fakes" generated through the use of Artificial Intelligence ("AI") tools, malfeasance by insiders, human or technological error, and as a result of malicious code embedded in open-source software, or misconfigurations, bugs or other vulnerabilities in commercial software that is integrated into our (or our suppliers’ or service providers’) information technology systems, products or services. We have experienced cyberattacks and cybersecurity incidents in the past (although none had material adverse impacts on our business or results of operations) and expect to face similar ongoing threats in the future. To the extent we or a third party were to experience a material breach of our information technology systems that results in the unauthorized access, theft, use, manipulation, destruction or other compromises of our confidential information stored in such systems, including through cyber-attacks such as ransomware, denial of service or other methods, such a breach may cause us to lose tenants and employees, result in adverse financial impact, incur third party claims and cause disruption to our business and plans. Despite planning, preparation, and preventative and risk-management measures, our business may be significantly disrupted if unable to quickly recover. Remote and hybrid working arrangements at our company (and at many third-party providers) may also increase cybersecurity risks due to the challenges associated with managing remote computing assets and security vulnerabilities that are present in many non-corporate and home networks. Additionally, any integration of AI in our or any service providers’ operations, products or services may pose new or unknown cybersecurity risks and challenges. There can be no assurance that our cybersecurity risk management program and processes, including our policies, controls and procedures, will be fully implemented, complied with or effective in protecting our systems and information. Such security breaches also could subject us to litigation and governmental investigations and proceedings into potential violations of applicable privacy or other laws. Any of these events could result in our exposure to material civil or criminal liability, and we may not be able to fully recover these expenses from our service providers, responsible parties, or insurance carriers, or that applicable insurance will be available to us in the future on economically reasonable terms or at all. We can provide no assurance that the ongoing significant investments in technology and training we make relating to cybersecurity will avoid or prevent such breaches or attacks.
Cyberattacks are expected to increase on a global basis in frequency and magnitude as threat actors are becoming increasingly sophisticated in using techniques and tools—including AI—that trick humans into taking unwarranted actions, circumvent security controls, evade detection and remove forensic evidence. Despite the implementation of training of our employees and security measures for our disaster recovery and business continuity plans, our information systems may be vulnerable to damage or other adverse impact from multiple sources other than cybersecurity risks, including computer viruses, energy blackouts, natural disasters, terrorism, war, and telecommunication failure. Any system failure or accident that causes disruption or interruptions to our information systems could result in a material disruption to our operations and business, and cause us to incur material costs to remedy such damages or adverse impacts.

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Any actual or perceived failure to comply with new or existing laws, regulations and other requirements relating to the privacy, security and processing of personal information could adversely affect our business, results of operations, or financial condition.
In connection with running our business, we receive, store, use and otherwise process information that relates to individuals, including from and about our tenants, employees and business partners. We are therefore subject to laws, regulations and other requirements relating to the privacy, security and handling of personal information. These laws require us to adhere to certain disclosure restrictions and deletion obligations with respect to the personal information, and allow for penalties for violations and, in some cases, a private right of action. These laws also impose transparency and other obligations with respect to personal information of and provide rights with respect to personal information. The application and interpretation of such requirements are evolving and are subject to change, creating a complex compliance environment. There has been a substantial increase in legislative activity and regulatory focus on data privacy and security, including in relation to cybersecurity incidents.
It is possible that new laws, regulations and other requirements, or amendments to or changes in interpretations of existing laws, regulations and other requirements, may require us to incur significant costs, implement new processes, or change our handling of information and business operations. In addition, any failure or perceived failure by us to comply with laws, regulations and other requirements relating to the privacy, security and handling of information could result in legal claims or proceedings (including class actions), regulatory investigations or enforcement actions. We could incur costs in investigating and defending such claims and, if found liable, pay damages or fines or be required to make changes to our business. These proceedings and any subsequent adverse outcomes may subject us to significant negative publicity and an erosion of trust. If any of these events were to occur, our business, results of operations, and financial condition could be materially adversely affected.
 
The use of technology based on AI presents risks relating to confidentiality, creation of inaccurate and flawed outputs and emerging regulatory risk, any or all of which may adversely affect our business and results of operations.
As with many technological innovations, AI presents great promise but also risks and challenges that could adversely affect our business. Sensitive, proprietary, or confidential information of the Company, our tenants, employees and business partners could be leaked, disclosed, or revealed as a result of or in connection with the use of AI technologies by our employees, tenants or vendors. For example, any such information input into a third-party AI or machine learning platform could be revealed to others, including if information is used to train the third party's AI or machine learning models. Additionally, where an AI or machine learning model ingests personal information and makes connections using such data, those technologies may reveal other sensitive, proprietary, or confidential information generated by the model. Moreover, AI or machine learning models may create incomplete, inaccurate, or otherwise flawed outputs, which may nonetheless appear correct. Based on these and other factors, these models could lead us to make flawed decisions that could result in adverse consequences to us, including exposure to reputational and competitive harm, customer loss, and legal liability.
Despite the above risks and challenges associated with the use of AI, in the retail industry AI is increasingly being adopted for personalized marketing, inventory management, customer service, pricing optimization, and supply chain management. The costs of implementing new technologies, including AI-driven property management tools, smart building systems, and data analytics platforms, may be substantial.The effectiveness of these tools are being evaluated in an ongoing mannter.
Advanced analytics and AI may enable retailers to optimize their store footprints, potentially leading to reduced space requirements and location closures. Moreover, generative AI and virtual shopping experiences may further shift consumer behavior away from physical stores. AI-powered tools may enable more efficient e-commerce operations, potentially impacting some of the competitive advantages of physical retail locations. Because the use and regulation of AI technologies continue to evolve, additional risks may emerge over time.
In addition, uncertainty in the legal and regulatory regime relating to AI may require significant resources to modify and maintain business practices to comply with applicable law, the nature of which cannot be determined at this time. Several jurisdictions have already proposed or enacted laws governing AI and may decide to adopt similar or more restrictive legislation that may render the use of such technologies challenging. These obligations may prevent or limit our ability to use AI in our business, lead to regulatory fines or penalties for AI use that does not meet certain standards, and require us to change our business practices. If we cannot use AI, or that use is restricted, our business may be less efficient, or we may be at a competitive disadvantage.
In sum, any of the above risks associated with the use of AI could adversely affect our business, financial condition, and results of operations.

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Risk Factors Related to Taxes and the Parent Company's Qualification as a REIT
If the Parent Company fails to qualify as a REIT for federal income tax purposes, it would be subject to federal income tax at regular corporate rates.
We believe that the Parent Company qualifies for taxation as a REIT for federal income tax purposes, and we plan to operate so that the Parent Company can continue to meet the requirements for taxation as a REIT. If the Parent Company continues to qualify as a REIT, it generally will not be subject to federal income tax on income that it distributes to its stockholders. Many REIT requirements, however, are highly technical and complex. The determination that the Parent Company is a REIT requires an analysis of various factual matters and circumstances, some of which may not be totally within our control and some of which involve questions of interpretation. For example, to qualify as a REIT, at least 95% of our gross income must come from specific passive sources, like rent, that are itemized in the REIT tax laws. There can be no assurance that the Internal Revenue Service ("IRS") or a court would agree with the positions we have taken in interpreting the REIT requirements. The Parent Company is also required to distribute to the stockholders at least 90% of its REIT taxable income, excluding net capital gains. The Parent Company will be subject to U.S. federal income tax on undistributed taxable income and net capital gains and to a 4% nondeductible excise tax on any amount by which distributions the Parent Company pays with respect to any calendar year are less than the sum of 85% of our ordinary income, 95% of our capital gain net income and 100% of our undistributed income from prior years. The fact that we hold many of our assets through real estate partnerships and their subsidiaries further complicates the application of the REIT requirements. Furthermore, Congress and the IRS might make changes to the tax laws and regulations, and the courts might issue new rulings, that make it more difficult for the Parent Company to remain qualified as a REIT.
Also, unless the IRS granted relief under certain statutory provisions, the Parent Company would remain disqualified as a REIT for four years following the year it first failed to qualify. If the Parent Company failed to qualify as a REIT (currently and/or with respect to any tax years for which the statute of limitations has not expired), the Parent Company would have to pay significant income taxes, reducing cash available to pay dividends, which would likely have a significant adverse effect on the value of our securities. In addition, the Parent Company would no longer be required to pay any dividends to stockholders in order to maintain its REIT status, and we could be subject to a federal alternative minimum tax and possibly increased state and local taxes. Although we believe that the Parent Company qualifies as a REIT, we cannot be assured that the Parent Company will continue to qualify or remain qualified as a REIT for tax purposes.
Even if the Parent Company qualifies as a REIT for federal income tax purposes, the Parent Company is required to pay certain federal, state, and local taxes on its income and property. For example, if we have net income from "prohibited transactions," that income will be subject to a 100% tax. In general, prohibited transactions include sales or other dispositions of property held primarily for sale to customers in the ordinary course of business. The determination as to whether a particular sale is a prohibited transaction depends on the facts and circumstances related to that sale. While we have undertaken a number of asset sales in recent years, we do not believe that those sales should be considered prohibited transactions, but there can be no assurance that the IRS would not contend otherwise.
New legislation, as well as new regulations, administrative interpretations, or court decisions may be introduced, enacted, or promulgated from time to time, that may change the tax laws or interpretations of the tax laws regarding qualification as a REIT, or the federal income tax consequences of that qualification, in a manner that is adverse to our stockholders.
Dividends paid by REITs generally do not qualify for reduced tax rates.
Subject to limited exceptions, dividends paid by REITs (other than distributions designated as capital gain dividends, qualified dividends or returns of capital) are not eligible for reduced rates for qualified dividends paid by "C" corporations and are taxable at ordinary income tax rates. However, domestic shareholders that are individuals, trusts, and estates generally may deduct up to 20% of the ordinary dividends (e.g., dividends not designated as capital gain dividends or qualified dividend income) received from a REIT. Although these rules do not adversely affect the taxation of REITs or dividends payable by REITs, investors who are individuals, trusts and estates may perceive investments in REITs to be relatively less attractive than investments in the stocks of non-REIT corporations that pay dividends, which may adversely affect the value of the shares of REITs, including the per share trading price of the Parent Company's capital stock.
Legislative or other actions affecting REITs may have a negative effect on us or our investors.
The rules dealing with federal income taxation are constantly under review by persons involved in the legislative process and by the IRS and the U.S. Department of the Treasury. Changes to the tax laws, with or without retroactive application, may adversely affect the Parent Company or our investors. We cannot predict how changes in the tax laws might affect the Parent Company or our investors. New legislation, Treasury Regulations, administrative interpretations or court decisions may significantly and negatively affect the Parent Company's ability to qualify as a REIT or the federal income tax consequences of such qualification, or the federal income tax consequences of an investment in us. There is also a risk that REIT status may be adversely impacted by a change in tax or other laws. Also, the law relating to the tax treatment of other entities, or an investment in other entities, may change, making an investment in such other entities more attractive relative to an investment in a REIT.

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Complying with REIT requirements may limit our ability to hedge effectively and may cause us to incur tax liabilities.
The REIT provisions of the Code limit our ability to enter into hedging transactions. Generally, income from certain hedging transactions, generally including transactions to manage interest rate changes with respect to borrowings to acquire or carry real estate assets, does not constitute "gross income" for purposes of the 75% or 95% gross income tests, provided that we properly identify the hedging transaction pursuant to the applicable sections of the Code and Treasury Regulations. To the extent that we enter into other types of hedging transactions, or fail to make the proper tax identifications, the income from those transactions is likely to be treated as non-qualifying income for purposes of both gross income tests. As a result of these rules, we may need to limit our use of otherwise advantageous hedging techniques or implement those hedges through a TRS.
Partnership tax audit rules could have a material adverse effect.
Under current federal partnership tax audit rules, subject to certain exceptions, any audit adjustment to items of income, gain, loss, deduction, or credit of a partnership (and a partner’s allocable share thereof) is determined, and taxes, interest, and penalties attributable thereto are assessed and collected, at the partnership level. With respect to any partnership in which we invest, unless such partnership makes an election or takes certain steps to require the partners to pay their tax on their allocable shares of the adjustment, it is possible that such partnership would be required to pay additional taxes, interest, and penalties as a result of an audit adjustment. We could be required to bear the economic burden of those taxes, interest, and penalties even though we may not otherwise have been required to pay additional taxes had we owned the assets of the partnership directly.
Risk Factors Related to the Company's Stock
Restrictions on the ownership of the Parent Company's capital stock to preserve its REIT status may delay or prevent a change in control.
Ownership of more than 7% by value of our outstanding capital stock is prohibited, with certain exceptions, by the Parent Company's articles of incorporation, for the purpose of maintaining its qualification as a REIT. This 7% limitation may discourage a change in control and may also (i) deter tender offers for our capital stock, which offers may be attractive to our stockholders, or (ii) limit the opportunity for our stockholders to receive a premium for their capital stock that might otherwise exist if an investor attempted to assemble a block in excess of 7% of our outstanding capital stock or to affect a change in control.
The issuance of the Parent Company's capital stock may delay or prevent a change in control.
The Parent Company's articles of incorporation authorize our Board of Directors to issue up to 30,000,000 shares of preferred stock (less the shares of preferred stock already issued and outstanding) and 10,000,000 shares of special common stock and to establish the preferences and rights of any shares issued. The issuance of preferred stock or special common stock may have the effect of delaying or preventing a change in control. The provisions of the Florida Business Corporation Act regarding affiliated transactions may also deter potential acquisitions by preventing the acquiring party from consummating a merger or other extraordinary corporate transaction without the approval of our disinterested stockholders.
Ownership in the Parent Company may be diluted in the future.
In the future, a stockholder's percentage ownership in the Company may be diluted because of equity issuances for acquisitions, capital market transactions or other corporate purposes, including equity awards we will grant to our directors, officers and employees. In the past we have issued equity in the secondary market (including in connection with our At the Market ("ATM") program) and may do so again in the future, depending on the price of our stock and other factors.
In addition, our restated articles of incorporation, as amended, authorizes our Board of Directors to issue, without the approval of our stockholders, one or more classes or series of preferred stock having such preferences, limitations, and relative rights, including preferences over our common stock respecting dividends and distributions, as our Board of Directors generally may determine. The terms of one or more classes or series of preferred stock could dilute the voting power or reduce the value of our common stock. For example, we could grant the holders of preferred stock the right to elect some number of our directors in all events or on the happening of specified events or the right to veto specified transactions. Similarly, the repurchase or redemption rights or liquidation preferences we could assign to holders of preferred stock could affect the residual value of the common stock.
The Parent Company’s amended and restated bylaws provides that the courts located in the State of Florida will be the sole and exclusive forum for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, or employees.
The Parent Company’s amended and restated bylaws provide that, unless the Parent Company consents in writing to the selection of an alternative forum, the sole and exclusive forum for (i) any derivative action or proceeding brought on behalf of the Parent Company, (ii) any action asserting a claim for breach of a fiduciary duty owed by any director or officer or other employee of the Parent Company to the Parent Company or its shareholders, (iii) any action asserting a claim against the Parent Company or any director or officer or other employee of the Parent Company arising pursuant to any provision of the Florida Business Corporation Act or the articles of incorporation or bylaws of the Parent Company, or (iv) any action asserting a claim against the corporation or any director or officer or other employee of the corporation governed by the internal affairs doctrine shall be the Federal District Court for

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the Middle District of Florida, Jacksonville Division (or, if such court does not have jurisdiction, a state court located within the State of Florida, County of Duval).
By becoming a shareholder in our Parent Company, you will be deemed to have notice of and have consented to the provisions of the amended and restated bylaws of our Parent Company related to choice of forum. The choice of forum provisions in the amended and restated bylaws may limit our shareholders’ ability to obtain a favorable judicial forum for disputes with us. Additionally, the enforceability of choice of forum provisions in other companies’ governing documents has been challenged in legal proceedings, and it is possible that, in connection with any applicable action brought against us, a court could find the choice of forum provisions contained in the amended and restated bylaws of the Parent Company to be inapplicable or unenforceable in such action. If so, we may incur additional costs associated with resolving such action in other jurisdictions, which could harm our business, results of operations, and financial condition.
There is no assurance that we will continue to pay dividends at current or historical rates.
Our ability to continue to pay dividends at current or historical rates or to increase our dividend rate will depend on a number of factors, including, among others, the following:
• our financial condition and results of future operations;

• the terms of our loan covenants; and

• our ability to acquire, finance, develop or redevelop and lease additional properties at attractive rates.

If we do not maintain or periodically increase the dividend on our common stock, or if we do not pay dividends on our preferred stock, it may have an adverse effect on the market price of our common stock and other securities.
Item 1B. Unresolve d Staff Comments
None.
Item 1C. Cybersecurity
Cybersecurity Risk Management and Strategy
We have developed and implemented a cybersecurity risk management program intended to protect the confidentiality, security, and availability of our critical systems and information.
We employ a tiered structure of management and oversight for cybersecurity, characterized by distinct layers of responsibility and decision making, which includes operational staff, management, and senior management and board-level governance. As discussed in more detail below under "Cybersecurity Governance," this involves management responsibility through a specialized Cyber Risk Committee (the "CRC") and oversight of that committee by a group of the most senior leaders of the Company, which comprise the Company’s Executive Committee. At the Company’s Board of Directors (the "Board") level, the Audit Committee oversees our cybersecurity risk management program.
Our strategy for managing cybersecurity risk is integrated into the Company’s overall risk management program and structure, as depicted in the Corporate Governance section of our Proxy under "Risk Oversight."

The Company, through its Chief Information Security Officer ("CISO"), other Company employees experienced in information network security, and the use of third-party expertise references recognized cybersecurity frameworks, such as the National Institute of Standards and Technology ("NIST") Cybersecurity Framework. While our objective is to generally align our cybersecurity program with NIST standards, this does not imply that we meet NIST or any other particular technical standard, specifications, or requirements; rather, these frameworks are used to benchmark and help tailor the Company’s cybersecurity strategies and program to our risk mitigation and operational needs and goals.
Our core cybersecurity strategy focuses on five key pillars: identification, protection, detection, response, and recovery, each tailored to meet the challenges and needs of our business. The primary goal of this strategy is to proactively safeguard the confidentiality, security, and availability of our critical systems and information. This proactive approach includes measures designed to identify, prevent, and mitigate cybersecurity threats and to enable a timely response to cybersecurity incidents to minimize their impact. Under the leadership of our CISO and CRC, we regularly evaluate and enhance our cybersecurity practices to facilitate adaptation to the constantly evolving landscape of cybersecurity threats.
Key elements of our cybersecurity risk management program include, but are not limited to, the following:
• risk assessments designed to help identify material risks from cybersecurity threats to our critical systems and information;

• oversight of cybersecurity risks and controls by our CRC, including oversight of the management of cybersecurity incidents by designated incident response personnel, in coordination with IT security and other functions, as appropriate;

• the use of external service providers, where appropriate, to assess, test or otherwise assist with aspects of our security processes, as discussed further below;

22

 

• cybersecurity awareness training of our employees, including incident response personnel and senior management;

• a response plan that includes procedures for responding to cybersecurity incidents; and

• a third-party risk management process for key service providers based on our assessment of their criticality to our operations and respective risk profile.

We have adopted a risk-based strategy to assess and manage cybersecurity risks associated with third parties. We prioritize our cybersecurity efforts relating to third parties based on the likelihood and potential impact of cybersecurity threats. This includes reviewing the security protocols of key vendors, service providers, and external users of our systems.
The CRC engages third-party expertise from time to time as it deems necessary or appropriate to test our cybersecurity defenses, to evaluate the cybersecurity programs of current and potential vendors and service providers, and to seek specialized legal advice regarding cybersecurity.
Since at least January 1, 2022 , we are not aware of any cybersecurity incidents that have materially affected the Company. Nonetheless, we face risks from cybersecurity threats that, if realized, are reasonably likely to materially affect us, including our operations, business strategy, results of operations, or financial condition. See "Risk Factors – The unauthorized access, use, theft or destruction of tenant or employee personal, financial or other data, or of Regency's proprietary or confidential information stored in our information systems or by third parties on our behalf, could impact operations, and expose us to potential liabilities and material adverse financial impact."
Cybersecurity Governance
The Audit Committee of the Board is charged with overseeing our cybersecurity risk management program. Both the CRC Chair and the CISO, serving in distinct roles, provide the Audit Committee with regular updates. These updates cover the overall status of the Company’s cybersecurity program, as well as developments and potential new risks and trends. In the event of a significant cybersecurity threat or incident, the CRC would escalate communication frequency and intensity with the Audit Committee, Board, and the Company’s Executive Committee (discussed below).
The Audit Committee reports to the full Board regarding its activities, including those related to cybersecurity. Board members also receive presentations periodically on cybersecurity topics from internal security staff and external experts as part of the Board’s continuing education.
As designated by the Company’s Executive Committee and the Audit Committee, our CRC leads Regency's cybersecurity risk management program. This includes risk identification, assessment, management, prevention and mitigation, as well as securing necessary resources and reporting on cybersecurity preparedness to the Executive Committee (which is currently comprised of the CEO, CFO, and several of the Company’s other senior leaders) and the Audit Committee.
CRC membership, which is subject to change from time to time, includes management leadership possessing a diverse range of education, experience and expertise, and currently includes the Company’s CISO, chief accounting officer, head of internal audit, general counsel and chief compliance officer, head of litigation, head of human resources, head of IT operations and the manager of network security. The collective experience of this committee encompasses areas such as IT, network security, change and incident management, public company governance, accounting, financial controls, insurance, risk management, third-party vendor oversight and systems integration, communications, human capital, and legal matters including securities, privacy and technology contracting.

Our CRC takes steps to stay informed about and monitor efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means. These include briefings from internal security personnel; threat intelligence and other information obtained from governmental, public and private sources, including external consultants engaged by us; and alerts and reports generated by security tools deployed in our IT environment.
 
 

23

 

Item 2. P roperties
The following table is a list of our shopping centers, summarized by state and in order of largest holdings by number of properties, presented for consolidated properties (excludes properties owned by unconsolidated real estate partnerships):
 

 

 

December 31, 2025

 

 

December 31, 2024

 

Location

 

Number of
Properties

 

 

GLA (in
thousands)

 

 

Percent of
Total GLA

 

 

Percent
Leased

 

 

Number of
Properties

 

 

GLA (in
thousands)

 

 

Percent of
Total GLA

 

 

Percent
Leased

 

Florida

 

 

86

 

 

 

10,630

 

 

 

23.0

%

 

 

96.2

%

 

 

86

 

 

 

10,558

 

 

 

24.2

%

 

 

96.5

%

California

 

 

62

 

 

 

9,304

 

 

 

20.2

%

 

 

94.9

%

 

 

55

 

 

 

8,355

 

 

 

19.0

%

 

 

96.0

%

Connecticut

 

 

41

 

 

 

3,876

 

 

 

8.4

%

 

 

95.8

%

 

 

43

 

 

 

3,924

 

 

 

8.9

%

 

 

94.1

%

Texas

 

 

28

 

 

 

3,679

 

 

 

8.0

%

 

 

95.7

%

 

 

27

 

 

 

3,518

 

 

 

8.0

%

 

 

96.9

%

New York

 

 

41

 

 

 

3,468

 

 

 

7.5

%

 

 

94.5

%

 

 

42

 

 

 

3,339

 

 

 

7.6

%

 

 

93.3

%

Georgia

 

 

22

 

 

 

2,152

 

 

 

4.7

%

 

 

96.7

%

 

 

22

 

 

 

2,125

 

 

 

4.8

%

 

 

97.3

%

New Jersey

 

 

17

 

 

 

1,621

 

 

 

3.5

%

 

 

96.0

%

 

 

17

 

 

 

1,585

 

 

 

3.6

%

 

 

97.0

%

Colorado

 

 

14

 

 

 

1,259

 

 

 

2.7

%

 

 

96.1

%

 

 

13

 

 

 

1,097

 

 

 

2.5

%

 

 

97.9

%

North Carolina

 

 

10

 

 

 

1,226

 

 

 

2.7

%

 

 

97.7

%

 

 

10

 

 

 

1,226

 

 

 

2.8

%

 

 

98.5

%

Ohio

 

 

8

 

 

 

1,213

 

 

 

2.6

%

 

 

98.9

%

 

 

8

 

 

 

1,224

 

 

 

2.8

%

 

 

98.7

%

Illinois

 

 

6

 

 

 

1,090

 

 

 

2.4

%

 

 

98.2

%

 

 

6

 

 

 

1,085

 

 

 

2.5

%

 

 

94.8

%

Virginia

 

 

7

 

 

 

1,040

 

 

 

2.3

%

 

 

97.4

%

 

 

6

 

 

 

943

 

 

 

2.1

%

 

 

98.3

%

Washington

 

 

10

 

 

 

961

 

 

 

2.1

%

 

 

98.0

%

 

 

10

 

 

 

962

 

 

 

2.2

%

 

 

96.3

%

Massachusetts

 

 

8

 

 

 

905

 

 

 

2.0

%

 

 

97.1

%

 

 

8

 

 

 

898

 

 

 

2.0

%

 

 

97.4

%

Oregon

 

 

7

 

 

 

747

 

 

 

1.6

%

 

 

95.8

%

 

 

7

 

 

 

741

 

 

 

1.7

%

 

 

95.3

%

Tennessee

 

 

4

 

 

 

638

 

 

 

1.4

%

 

 

98.7

%

 

 

3

 

 

 

314

 

 

 

0.7

%

 

 

100.0

%

Pennsylvania

 

 

5

 

 

 

591

 

 

 

1.3

%

 

 

97.3

%

 

 

4

 

 

 

447

 

 

 

1.0

%

 

 

97.3

%

Indiana

 

 

3

 

 

 

428

 

 

 

0.9

%

 

 

96.5

%

 

 

1

 

 

 

289

 

 

 

0.7

%

 

 

100.0

%

Missouri

 

 

4

 

 

 

408

 

 

 

0.9

%

 

 

99.3

%

 

 

4

 

 

 

408

 

 

 

0.9

%

 

 

98.9

%

Maryland

 

 

3

 

 

 

313

 

 

 

0.7

%

 

 

89.9

%

 

 

2

 

 

 

289

 

 

 

0.7

%

 

 

89.9

%

Minnesota

 

 

2

 

 

 

246

 

 

 

0.5

%

 

 

84.4

%

 

 

2

 

 

 

246

 

 

 

0.6

%

 

 

84.4

%

Delaware

 

 

1

 

 

 

233

 

 

 

0.5

%

 

 

93.3

%

 

 

1

 

 

 

229

 

 

 

0.5

%

 

 

97.1

%

South Carolina

 

 

1

 

 

 

51

 

 

 

0.1

%

 

 

100.0

%

 

 

1

 

 

 

51

 

 

 

0.1

%

 

 

100.0

%

District of Columbia

 

 

1

 

 

 

23

 

 

 

0.0

%

 

 

100.0

%

 

 

1

 

 

 

23

 

 

 

0.1

%

 

 

100.0

%

Total

 

 

391

 

 

 

46,102

 

 

 

100.0

%

 

 

96.0

%

 

 

379

 

 

 

43,876

 

 

 

100.0

%

 

 

96.2

%

The weighted average annual effective rent for the consolidated portfolio of properties, net of tenant concessions, is $26.55 and $25.56 per square foot ("PSF") as of December 31, 2025 and 2024, respectively.

24

 

The following table is a list of our shopping centers, summarized by state and in order of largest holdings by number of properties, presented for unconsolidated properties (properties owned by our unconsolidated real estate partnerships):
 

 

 

December 31, 2025

 

 

December 31, 2024

 

Location

 

Number of
Properties

 

 

GLA (in
thousands)

 

 

Percent of
Total GLA

 

 

Percent
Leased

 

 

Number of
Properties

 

 

GLA (in
thousands)

 

 

Percent of
Total GLA

 

 

Percent
Leased

 

California

 

 

16

 

 

 

2,293

 

 

 

18.6

%

 

 

97.0

%

 

 

17

 

 

 

2,319

 

 

 

17.4

%

 

 

98.4

%

Virginia

 

 

11

 

 

 

1,701

 

 

 

13.9

%

 

 

96.4

%

 

 

14

 

 

 

1,982

 

 

 

14.8

%

 

 

94.1

%

North Carolina

 

 

7

 

 

 

1,245

 

 

 

10.1

%

 

 

97.8

%

 

 

7

 

 

 

1,240

 

 

 

9.2

%

 

 

98.3

%

Washington

 

 

7

 

 

 

881

 

 

 

7.2

%

 

 

92.1

%

 

 

7

 

 

 

874

 

 

 

6.5

%

 

 

95.6

%

Maryland

 

 

8

 

 

 

826

 

 

 

6.7

%

 

 

97.4

%

 

 

9

 

 

 

848

 

 

 

6.3

%

 

 

96.1

%

Texas

 

 

5

 

 

 

808

 

 

 

6.6

%

 

 

98.2

%

 

 

6

 

 

 

959

 

 

 

7.1

%

 

 

95.4

%

Colorado

 

 

5

 

 

 

783

 

 

 

6.4

%

 

 

94.0

%

 

 

6

 

 

 

858

 

 

 

6.4

%

 

 

96.9

%

Illinois

 

 

5

 

 

 

781

 

 

 

6.4

%

 

 

99.5

%

 

 

5

 

 

 

777

 

 

 

5.8

%

 

 

99.7

%

Florida

 

 

6

 

 

 

669

 

 

 

5.5

%

 

 

99.2

%

 

 

6

 

 

 

669

 

 

 

5.0

%

 

 

98.4

%

New York

 

 

5

 

 

 

644

 

 

 

5.2

%

 

 

94.5

%

 

 

5

 

 

 

786

 

 

 

5.8

%

 

 

96.6

%

Minnesota

 

 

3

 

 

 

422

 

 

 

3.4

%

 

 

99.4

%

 

 

3

 

 

 

422

 

 

 

3.1

%

 

 

99.2

%

Pennsylvania

 

 

3

 

 

 

391

 

 

 

3.2

%

 

 

96.5

%

 

 

6

 

 

 

664

 

 

 

4.9

%

 

 

97.3

%

New Jersey

 

 

3

 

 

 

223

 

 

 

1.8

%

 

 

96.0

%

 

 

4

 

 

 

300

 

 

 

2.2

%

 

 

91.1

%

Connecticut

 

 

1

 

 

 

195

 

 

 

1.6

%

 

 

100.0

%

 

 

1

 

 

 

189

 

 

 

1.4

%

 

 

98.1

%

Rhode Island

 

 

1

 

 

 

159

 

 

 

1.3

%

 

 

100.0

%

 

 

1

 

 

 

159

 

 

 

1.2

%

 

 

97.0

%

Oregon

 

 

1

 

 

 

93

 

 

 

0.8

%

 

 

93.8

%

 

 

1

 

 

 

93

 

 

 

0.7

%

 

 

97.5

%

South Carolina

 

 

1

 

 

 

80

 

 

 

0.7

%

 

 

100.0

%

 

 

1

 

 

 

80

 

 

 

0.6

%

 

 

100.0

%

Delaware

 

 

1

 

 

 

64

 

 

 

0.5

%

 

 

94.6

%

 

 

1

 

 

 

64

 

 

 

0.5

%

 

 

94.6

%

District of Columbia

 

 

1

 

 

 

17

 

 

 

0.1

%

 

 

100.0

%

 

 

1

 

 

 

17

 

 

 

0.1

%

 

 

100.0

%

Indiana

 

 

—

 

 

 

—

 

 

 

0.0

%

 

 

0.0

%

 

 

2

 

 

 

139

 

 

 

1.0

%

 

 

91.6

%

Total

 

 

90

 

 

 

12,275

 

 

 

100.0

%

 

 

96.8

%

 

 

103

 

 

 

13,439

 

 

 

100.0

%

 

 

96.8

%

The weighted average annual effective rent for the unconsolidated portfolio of properties, net of tenant concessions, is $25.87 and $24.51 PSF as of December 31, 2025 and 2024, respectively.

25

 

The following table summarizes our top tenants occupying our shopping centers for consolidated properties plus our share of unconsolidated properties, as of December 31, 2025, based upon a percentage of total annualized base rent (GLA and dollars in thousands):
 

Tenant

 

GLA

 

 

Percent of
Company
Owned GLA

 

 

Annualized
Base Rent

 

 

Percent of
Annualized
Base Rent

 

 

Number of
Leased Stores

 

Publix

 

 

2,940

 

 

 

5.8

%

 

$

36,191

 

 

 

2.9

%

 

 

67

 

TJX Companies, Inc.

 

 

1,840

 

 

 

3.6

%

 

 

33,760

 

 

 

2.7

%

 

 

76

 

Albertsons Companies, Inc.

 

 

2,053

 

 

 

4.1

%

 

 

33,619

 

 

 

2.7

%

 

 

52

 

Amazon/Whole Foods

 

 

1,312

 

 

 

2.6

%

 

 

31,808

 

 

 

2.5

%

 

 

39

 

Kroger Co.

 

 

2,978

 

 

 

5.9

%

 

 

31,292

 

 

 

2.5

%

 

 

51

 

Ahold Delhaize

 

 

924

 

 

 

1.8

%

 

 

23,189

 

 

 

1.8

%

 

 

20

 

CVS

 

 

808

 

 

 

1.6

%

 

 

21,942

 

 

 

1.7

%

 

 

66

 

JPMorgan Chase Bank

 

 

225

 

 

 

0.4

%

 

 

12,548

 

 

 

1.0

%

 

 

63

 

Trader Joe's

 

 

346

 

 

 

0.7

%

 

 

12,156

 

 

 

1.0

%

 

 

32

 

L.A. Fitness Sports Club

 

 

516

 

 

 

1.0

%

 

 

11,311

 

 

 

0.9

%

 

 

14

 

Nordstrom

 

 

402

 

 

 

0.8

%

 

 

11,134

 

 

 

0.9

%

 

 

12

 

Starbucks

 

 

160

 

 

 

0.3

%

 

 

10,424

 

 

 

0.8

%

 

 

99

 

H.E. Butt Grocery Company

 

 

706

 

 

 

1.4

%

 

 

10,125

 

 

 

0.8

%

 

 

8

 

Ross Dress For Less

 

 

587

 

 

 

1.2

%

 

 

9,692

 

 

 

0.8

%

 

 

25

 

Target

 

 

919

 

 

 

1.8

%

 

 

9,387

 

 

 

0.7

%

 

 

8

 

Bank of America

 

 

163

 

 

 

0.3

%

 

 

9,088

 

 

 

0.7

%

 

 

41

 

Gap, Inc

 

 

259

 

 

 

0.5

%

 

 

8,805

 

 

 

0.7

%

 

 

20

 

Wells Fargo Bank

 

 

152

 

 

 

0.3

%

 

 

8,711

 

 

 

0.7

%

 

 

49

 

JAB Holding Company

 

 

168

 

 

 

0.3

%

 

 

7,282

 

 

 

0.6

%

 

 

59

 

Walgreens Boots Alliance

 

 

255

 

 

 

0.5

%

 

 

6,796

 

 

 

0.5

%

 

 

22

 

Petco Health and Wellness Company

 

 

275

 

 

 

0.5

%

 

 

6,762

 

 

 

0.5

%

 

 

26

 

Ulta

 

 

224

 

 

 

0.4

%

 

 

6,680

 

 

 

0.5

%

 

 

25

 

Xponential Fitness

 

 

163

 

 

 

0.3

%

 

 

6,650

 

 

 

0.5

%

 

 

97

 

Kohl's

 

 

526

 

 

 

1.0

%

 

 

6,389

 

 

 

0.5

%

 

 

7

 

Five Below

 

 

209

 

 

 

0.4

%

 

 

5,977

 

 

 

0.5

%

 

 

27

 

Top Tenants

 

 

19,110

 

 

 

37.5

%

 

$

371,718

 

 

 

29.4

%

 

 

1,005

 

Our leases for tenant space under 10,000 square feet generally have initial terms ranging from three to seven years. Leases greater than 10,000 square feet ("Anchor Leases") generally have initial lease terms in excess of five years and are mostly comprised of Anchor Tenants. Many of the leases contain provisions allowing the tenant the option of extending the term of the lease at expiration. Our leases typically provide for the payment of fixed base rent, the tenant’s Pro-rata share of real estate taxes, insurance, and common area maintenance ("CAM") expenses, and reimbursement for utility costs if not directly metered.

26

 

The following table summarizes Pro-rata lease expirations (per their terms) for the next ten years and thereafter, for our consolidated and unconsolidated properties, assuming no tenants renew their leases (GLA and dollars of In Place Annual Base Rent Expiring Under Leases in thousands):
 

Lease Expiration Year

 

Number of Tenants with Expiring Leases

 

 

Pro-rata Expiring GLA

 

 

Percent of Total Company GLA

 

 

In Place Annual Base Rent Expiring Under Leases

 

 

Percent of In Place Annual Base Rent

 

 

Pro-rata Expiring Average Annual Base Rent PSF

 

(1)

 

 

109

 

 

 

223

 

 

 

0.5

%

 

$

6,333

 

 

 

0.5

%

 

$

28.42

 

2026

 

 

1,021

 

 

 

2,990

 

 

 

6.3

%

 

 

85,068

 

 

 

6.9

%

 

 

28.45

 

2027

 

 

1,437

 

 

 

6,239

 

 

 

13.1

%

 

 

159,240

 

 

 

12.9

%

 

 

25.52

 

2028

 

 

1,367

 

 

 

5,989

 

 

 

12.6

%

 

 

163,974

 

 

 

13.3

%

 

 

27.38

 

2029

 

 

1,269

 

 

 

6,743

 

 

 

14.2

%

 

 

161,851

 

 

 

13.1

%

 

 

24.00

 

2030

 

 

1,233

 

 

 

5,956

 

 

 

12.5

%

 

 

160,295

 

 

 

13.0

%

 

 

26.91

 

2031

 

 

765

 

 

 

4,338

 

 

 

9.1

%

 

 

106,611

 

 

 

8.7

%

 

 

24.58

 

2032

 

 

503

 

 

 

2,178

 

 

 

4.6

%

 

 

65,033

 

 

 

5.3

%

 

 

29.87

 

2033

 

 

494

 

 

 

2,193

 

 

 

4.6

%

 

 

66,046

 

 

 

5.4

%

 

 

30.11

 

2034

 

 

417

 

 

 

1,870

 

 

 

3.9

%

 

 

55,125

 

 

 

4.5

%

 

 

29.48

 

2035

 

 

544

 

 

 

2,444

 

 

 

5.1

%

 

 

67,241

 

 

 

5.5

%

 

 

27.52

 

Thereafter

 

 

443

 

 

 

6,349

 

 

 

13.5

%

 

 

134,293

 

 

 

10.9

%

 

 

21.15

 

Total

 

 

9,602

 

 

 

47,512

 

 

 

100.0

%

 

$

1,231,110

 

 

 

100.0

%

 

$

25.91

 

(1) Leases currently under month-to-month rent or in process of renewal.

During 2026, we have a total of 1,021 leases expiring by their terms, representing 3.0 million square feet of GLA. These expiring leases have an average base rent of $28.45 PSF. The average base rent of new leases signed during 2025 was $36.02 PSF. During periods of macroeconomic uncertainty or weakness, when the percent of our space leased is relatively low, and/or when supply of retail space for lease generally exceeds demand, tenants have more bargaining power, which may result in rental rate declines on new or renewal leases. In periods of macroeconomic strength, when the percent of space leased is relatively high, and/or when supply/demand metrics for retail space favor landlords, we have more bargaining power, which generally results in rental rate growth on new and renewal leases.
Demand for retail space in high quality, community centers located in trade areas with compelling demographics remained strong in 2025 and into early 2026, especially among business operators with a history of success and growing innovative business concepts. However, inflationary challenges and the potential for macroeconomic uncertainty or weakness could result in pressure on base rent growth for new and renewal leases as businesses seek to manage these challenges and uncertainties.

27

The following table lists information about our consolidated and unconsolidated properties. For further information, see "Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations " of this Report.

Property Name

 

CBSA (1)

 

State

 

Owner-
ship
Interest  (2)

 

Year
Acquired

 

Year
Constructed
or Last Major
Renovation

 

Mortgages or
Encumbrances
(in 000's)

 

 

Gross
Leasable
Area
(GLA)
(in 000's)

 

 

Percent
Leased  (3)

 

Average
Base Rent
PSF (4)

 

 

MajorTenant(s) (5)

Amerige Heights Town Center

 

Los Angeles-Long Beach-Anaheim

 

CA

 

 

 

2000

 

2000

 

$

—

 

 

 

97

 

 

100.0%

 

$

34.00

 

 

Albertsons, (Target)

Bloom on Third

 

Los Angeles-Long Beach-Anaheim

 

CA

 

35%

 

2018

 

1992/ in process

 

 

150,092

 

 

 

73

 

 

100.0%

 

 

60.81

 

 

Whole Foods, CVS, Citibank, Dick's

Brea Marketplace

 

Los Angeles-Long Beach-Anaheim

 

CA

 

40%

 

2005

 

1987

 

 

—

 

 

 

352

 

 

97.6%

 

 

21.31

 

 

24 Hour Fitness, Big 5 Sporting Goods, Childtime Childcare, Old Navy, Sprout's, Target, Smart Parke

Bridgepark Plaza

 

Los Angeles-Long Beach-Anaheim

 

CA

 

 

 

2025

 

2021

 

 

17,383

 

 

 

102

 

 

98.7%

 

 

45.58

 

 

Albertsons

Circle Center West

 

Los Angeles-Long Beach-Anaheim

 

CA

 

 

 

2017

 

1989

 

 

—

 

 

 

63

 

 

100.0%

 

 

41.16

 

 

Marshalls

Circle Marina Shops & Mrktplc. (fka Circle Marina Center)

 

Los Angeles-Long Beach-Anaheim

 

CA

 

 

 

2019

 

1994

 

 

—

 

 

 

117

 

 

89.1%

 

 

39.66

 

 

Sprouts, Big 5 Sporting Goods, Centinela Feed & Pet Supplies

Culver Center

 

Los Angeles-Long Beach-Anaheim

 

CA

 

 

 

2017

 

2000

 

 

—

 

 

 

217

 

 

89.9%

 

 

35.02

 

 

Ralphs, Best Buy, LA Fitness, Sit N' Sleep

Culver Commons (7)

 

Los Angeles-Long Beach-Anaheim

 

CA

 

 

 

2025

 

2025

 

 

—

 

 

 

13

 

 

65.5%

 

 

89.35

 

 

0

El Camino Shopping Center

 

Los Angeles-Long Beach-Anaheim

 

CA

 

 

 

1999

 

2017

 

 

—

 

 

 

136

 

 

100.0%

 

 

45.24

 

 

Bristol Farms, CVS

Granada Village

 

Los Angeles-Long Beach-Anaheim

 

CA

 

40%

 

2005

 

2012

 

 

49,194

 

 

 

226

 

 

92.9%

 

 

29.85

 

 

Sprout's Markets, PETCO, Homegoods, Burlington, TJ Maxx

Hasley Canyon Village

 

Los Angeles-Long Beach-Anaheim

 

CA

 

 

 

2003

 

2003

 

 

16,000

 

 

 

70

 

 

93.0%

 

 

27.98

 

 

Ralphs

Heritage Plaza

 

Los Angeles-Long Beach-Anaheim

 

CA

 

 

 

1999

 

2012

 

 

—

 

 

 

230

 

 

100.0%

 

 

47.72

 

 

Ralphs, CVS, Daiso, Mitsuwa Marketplace, Big 5 Sporting Goods

Mercantile East

 

Los Angeles-Long Beach-Anaheim

 

CA

 

 

 

2025

 

2023

 

 

33,000

 

 

 

239

 

 

100.0%

 

 

33.28

 

 

Trader Joe's, EOS Fitness, Lucky Strike

Mercantile West

 

Los Angeles-Long Beach-Anaheim

 

CA

 

 

 

2025

 

2025

 

 

40,600

 

 

 

150

 

 

100.0%

 

 

38.04

 

 

Stater Brothers

Morningside Plaza

 

Los Angeles-Long Beach-Anaheim

 

CA

 

 

 

1999

 

1996

 

 

—

 

 

 

91

 

 

98.8%

 

 

26.92

 

 

Stater Bros.

Newland Center

 

Los Angeles-Long Beach-Anaheim

 

CA

 

 

 

1999

 

2016

 

 

—

 

 

 

152

 

 

100.0%

 

 

34.32

 

 

Albertsons

Nohl Plaza (6)

 

Los Angeles-Long Beach-Anaheim

 

CA

 

 

 

2023

 

1966

 

 

—

 

 

 

104

 

 

97.2%

 

 

19.44

 

 

Vons

Plaza Hermosa

 

Los Angeles-Long Beach-Anaheim

 

CA

 

 

 

1999

 

2013

 

 

—

 

 

 

95

 

 

100.0%

 

 

32.75

 

 

Von's, CVS

Ralphs Circle Center

 

Los Angeles-Long Beach-Anaheim

 

CA

 

 

 

2017

 

1983

 

 

—

 

 

 

60

 

 

98.5%

 

 

33.58

 

 

Ralphs

Rona Plaza

 

Los Angeles-Long Beach-Anaheim

 

CA

 

 

 

1999

 

1989

 

 

—

 

 

 

52

 

 

100.0%

 

 

23.12

 

 

Superior Super Warehouse

Seal Beach

 

Los Angeles-Long Beach-Anaheim

 

CA

 

20%

 

2002

 

1966

 

 

—

 

 

 

102

 

 

97.0%

 

 

29.62

 

 

Pavilions, CVS

Sendero Marketplace

 

Los Angeles-Long Beach-Anaheim

 

CA

 

 

 

2025

 

2016

 

 

44,538

 

 

 

82

 

 

100.0%

 

 

49.81

 

 

Gelson's

Talega Village Center

 

Los Angeles-Long Beach-Anaheim

 

CA

 

 

 

2017

 

2007

 

 

—

 

 

 

102

 

 

95.5%

 

 

23.72

 

 

Ralphs

Terrace Shops

 

Los Angeles-Long Beach-Anaheim

 

CA

 

 

 

2025

 

2005

 

 

14,007

 

 

 

41

 

 

100.0%

 

 

43.40

 

 

Tustin Legacy

 

Los Angeles-Long Beach-Anaheim

 

CA

 

 

 

2016

 

2017

 

 

—

 

 

 

112

 

 

100.0%

 

 

37.14

 

 

Stater Bros, CVS

Twin Oaks Shopping Center

 

Los Angeles-Long Beach-Anaheim

 

CA

 

40%

 

2005

 

2019

 

 

19,000

 

 

 

98

 

 

100.0%

 

 

26.18

 

 

Ralphs, Ace Hardware

Valencia Crossroads

 

Los Angeles-Long Beach-Anaheim

 

CA

 

 

 

2002

 

2003

 

 

—

 

 

 

180

 

 

98.6%

 

 

30.52

 

 

Whole Foods, Kohl's

Village at La Floresta

 

Los Angeles-Long Beach-Anaheim

 

CA

 

 

 

2014

 

2014

 

 

—

 

 

 

87

 

 

93.2%

 

 

39.00

 

 

Whole Foods

Von's Circle Center

 

Los Angeles-Long Beach-Anaheim

 

CA

 

 

 

2017

 

1972

 

 

2,633

 

 

 

151

 

 

95.4%

 

 

29.14

 

 

Von's, Ross Dress for Less, Planet Fitness

Woodman Van Nuys

 

Los Angeles-Long Beach-Anaheim

 

CA

 

 

 

1999

 

1992

 

 

—

 

 

 

108

 

 

98.6%

 

 

18.09

 

 

El Super

Silverado Plaza

 

Napa

 

CA

 

40%

 

2005

 

1974

 

 

15,477

 

 

 

85

 

 

95.7%

 

 

28.12

 

 

Nob Hill, CVS

Gelson's Westlake Market Plaza

 

Oxnard-Thousand Oaks-Ventura

 

CA

 

 

 

2002

 

2016

 

 

—

 

 

 

85

 

 

94.7%

 

 

33.20

 

 

Gelson's Markets, John of Italy Salon & Spa

Oakbrook Plaza

 

Oxnard-Thousand Oaks-Ventura

 

CA

 

 

 

1999

 

2017

 

 

—

 

 

 

83

 

 

91.3%

 

 

22.21

 

 

Gelson's Markets, (CVS), (Ace Hardware)

Westlake Village Plaza and Center

 

Oxnard-Thousand Oaks-Ventura

 

CA

 

 

 

1999

 

2015

 

 

—

 

 

 

201

 

 

98.0%

 

 

45.47

 

 

Von's, Sprouts, (CVS)

French Valley Village Center

 

Rvrside-San Bernardino-Ontario

 

CA

 

 

 

2004

 

2004

 

 

—

 

 

 

114

 

 

100.0%

 

 

29.27

 

 

Stater Bros, CVS

Oak Valley Village (7)

 

Rvrside-San Bernardino-Ontario

 

CA

 

75%

 

2025

 

2025

 

 

—

 

 

 

230

 

 

74.3%

 

 

8.90

 

 

Sprouts, Target

Oakshade Town Center

 

Sacramento-Roseville-Folsom

 

CA

 

 

 

2011

 

1998

 

 

2,369

 

 

 

104

 

 

98.3%

 

 

20.85

 

 

Safeway, Sierra, Planet Fitness

Prairie City Crossing

 

Sacramento-Roseville-Folsom

 

CA

 

 

 

1999

 

1999

 

 

—

 

 

 

90

 

 

100.0%

 

 

23.63

 

 

Safeway

Raley's Supermarket

 

Sacramento-Roseville-Folsom

 

CA

 

20%

 

2007

 

1964

 

 

—

 

 

 

63

 

 

100.0%

 

 

15.68

 

 

Raley's

The Marketplace

 

Sacramento-Roseville-Folsom

 

CA

 

 

 

2017

 

1990

 

 

—

 

 

 

111

 

 

100.0%

 

 

28.09

 

 

Safeway, CVS, Petco

4S Commons Town Center

 

San Diego-Chula Vista-Carlsbad

 

CA

 

93%

 

2004

 

2004

 

 

—

 

 

 

265

 

 

100.0%

 

 

34.97

 

 

Restoration Hardware Outlet, Ace Hardware, Cost Plus World Market, CVS, Jimbo's…Naturally!, Ralphs, ULTA

 

 

Property Name

 

CBSA (1)

 

State

 

Owner-
ship
Interest  (2)

 

Year
Acquired

 

Year
Constructed
or Last Major
Renovation

 

Mortgages or
Encumbrances
(in 000's)

 

 

Gross
Leasable
Area
(GLA)
(in 000's)

 

 

Percent
Leased  (3)

 

Average
Base Rent
PSF (4)

 

 

MajorTenant(s) (5)

Balboa Mesa Shopping Center

 

San Diego-Chula Vista-Carlsbad

 

CA

 

 

 

2012

 

2014

 

 

—

 

 

 

207

 

 

100.0%

 

 

31.16

 

 

CVS, Kohl's, Von's

El Norte Pkwy Plaza

 

San Diego-Chula Vista-Carlsbad

 

CA

 

 

 

1999

 

2013

 

 

—

 

 

 

91

 

 

97.3%

 

 

21.14

 

 

Von's, Children's Paradise, ACE Hardware

Friars Mission Center

 

San Diego-Chula Vista-Carlsbad

 

CA

 

 

 

1999

 

1989

 

 

—

 

 

 

147

 

 

100.0%

 

 

42.18

 

 

Ralphs, CVS

Navajo Shopping Center

 

San Diego-Chula Vista-Carlsbad

 

CA

 

40%

 

2005

 

1964

 

 

11,000

 

 

 

102

 

 

96.4%

 

 

18.17

 

 

Albertsons, O'Reilly Auto Parts, Dollar Tree

Point Loma Plaza

 

San Diego-Chula Vista-Carlsbad

 

CA

 

40%

 

2005

 

1987

 

 

38,593

 

 

 

205

 

 

91.4%

 

 

24.17

 

 

Von's, Marshalls, UFC Gym

Rancho San Diego Village

 

San Diego-Chula Vista-Carlsbad

 

CA

 

40%

 

2005

 

1981

 

 

—

 

 

 

153

 

 

95.2%

 

 

27.37

 

 

Smart & Final, 24 Hour Fitness, (Longs Drug)

Scripps Ranch Marketplace

 

San Diego-Chula Vista-Carlsbad

 

CA

 

 

 

2017

 

2017

 

 

—

 

 

 

132

 

 

100.0%

 

 

37.28

 

 

Vons, CVS

The Hub Hillcrest Market

 

San Diego-Chula Vista-Carlsbad

 

CA

 

 

 

2012

 

2015

 

 

—

 

 

 

149

 

 

91.3%

 

 

47.12

 

 

Ralphs, Trader Joe's

Twin Peaks

 

San Diego-Chula Vista-Carlsbad

 

CA

 

 

 

1999

 

2015

 

 

—

 

 

 

208

 

 

98.1%

 

 

23.41

 

 

Target, Grocer

Bayhill Shopping Center

 

San Francisco-Oakland-Berkeley

 

CA

 

40%

 

2005

 

2019

 

 

28,800

 

 

 

122

 

 

99.2%

 

 

29.56

 

 

CVS, Mollie Stone's Market

Clayton Valley Shopping Center

 

San Francisco-Oakland-Berkeley

 

CA

 

 

 

2003

 

2004

 

 

—

 

 

 

260

 

 

94.5%

 

 

23.98

 

 

Grocery Outlet, Central, CVS, Dollar Tree, Ross Dress For Less

Diablo Plaza

 

San Francisco-Oakland-Berkeley

 

CA

 

 

 

1999

 

1982

 

 

—

 

 

 

63

 

 

90.8%

 

 

45.90

 

 

Bevmo!, (Safeway), (CVS)

El Cerrito Plaza

 

San Francisco-Oakland-Berkeley

 

CA

 

 

 

2000

 

2000

 

 

—

 

 

 

256

 

 

72.4%

 

 

34.02

 

 

PETCO, Ross Dress For Less, Trader Joe's, Marshalls, (CVS)

Ellis Village Center (7)

 

San Francisco-Oakland-Berkeley

 

CA

 

 

 

2025

 

2025

 

 

—

 

 

 

49

 

 

85.6%

 

 

39.14

 

 

Sprouts

Encina Grande

 

San Francisco-Oakland-Berkeley

 

CA

 

 

 

1999

 

2016

 

 

—

 

 

 

106

 

 

100.0%

 

 

37.89

 

 

Whole Foods, Walgreens

Oakley Shops at Laurel Fields (7)

 

San Francisco-Oakland-Berkeley

 

CA

 

 

 

2024

 

2024

 

 

—

 

 

 

78

 

 

95.5%

 

 

32.10

 

 

Safeway

Persimmon Place

 

San Francisco-Oakland-Berkeley

 

CA

 

 

 

2014

 

2014

 

 

—

 

 

 

153

 

 

100.0%

 

 

40.91

 

 

Whole Foods, Nordstrom Rack, Homegoods

Plaza Escuela

 

San Francisco-Oakland-Berkeley

 

CA

 

 

 

2017

 

2002

 

 

—

 

 

 

154

 

 

100.0%

 

 

43.51

 

 

The Container Store, Trufusion, Talbots, The Cheesecake Factory, Barnes & Noble

Pleasant Hill Shopping Center

 

San Francisco-Oakland-Berkeley

 

CA

 

40%

 

2005

 

2016

 

 

50,000

 

 

 

231

 

 

100.0%

 

 

26.07

 

 

Target, Burlington, Ross Dress for Less, Homegoods

Potrero Center

 

San Francisco-Oakland-Berkeley

 

CA

 

 

 

2017

 

1997

 

 

—

 

 

 

227

 

 

70.9%

 

 

35.01

 

 

Safeway, 24 Hour Fitness, Ross Dress for Less, Petco

Powell Street Plaza

 

San Francisco-Oakland-Berkeley

 

CA

 

 

 

2001

 

1987

 

 

—

 

 

 

170

 

 

100.0%

 

 

38.54

 

 

Trader Joe's, Bevmo!, Ross Dress For Less, Marshalls, Old Navy

San Carlos Marketplace

 

San Francisco-Oakland-Berkeley

 

CA

 

 

 

2017

 

2018

 

 

—

 

 

 

154

 

 

87.2%

 

 

39.93

 

 

TJ Maxx, Best Buy, PetSmart, Bassett Furniture

San Leandro Plaza

 

San Francisco-Oakland-Berkeley

 

CA

 

 

 

1999

 

1982

 

 

—

 

 

 

50

 

 

100.0%

 

 

40.49

 

 

(Safeway), (CVS)

Serramonte Center

 

San Francisco-Oakland-Berkeley

 

CA

 

 

 

2017

 

2018/In Process

 

 

—

 

 

 

1,085

 

 

96.4%

 

 

28.41

 

 

Buy Buy Baby, Cost Plus World Market, Crunch Fitness, DAISO, Dave & Buster's, Dick's Sporting Goods, Divano Homes, H&M, Macy's, Nordstrom Rack, Old Navy, Party City, Ross Dress for Less, Target, TJ Maxx, Uniqlo, Jagalchi, Koi Palace

Tassajara Crossing

 

San Francisco-Oakland-Berkeley

 

CA

 

 

 

1999

 

1990

 

 

—

 

 

 

146

 

 

98.3%

 

 

27.44

 

 

Safeway, CVS, Alamo Hardware

Willows Shopping Center (6)

 

San Francisco-Oakland-Berkeley

 

CA

 

 

 

2017

 

in process

 

 

—

 

 

 

233

 

 

85.2%

 

 

31.78

 

 

REI, Old Navy, Ulta, Five Below, Airport Home Appliance

Woodside Central

 

San Francisco-Oakland-Berkeley

 

CA

 

 

 

1999

 

1993

 

 

—

 

 

 

81

 

 

100.0%

 

 

31.34

 

 

Chuck E. Cheese, Marshalls, (Target)

Ygnacio Plaza

 

San Francisco-Oakland-Berkeley

 

CA

 

40%

 

2005

 

1968

 

 

25,850

 

 

 

110

 

 

100.0%

 

 

42.25

 

 

Sports Basement,TJ Maxx

Blossom Valley

 

San Jose-Sunnyvale-Santa Clara

 

CA

 

 

 

1999

 

1992

 

 

22,300

 

 

 

98

 

 

100.0%

 

 

28.59

 

 

Safeway, Dollar Tree

Mariposa Shopping Center

 

San Jose-Sunnyvale-Santa Clara

 

CA

 

40%

 

2005

 

2020

 

 

26,950

 

 

 

127

 

 

97.7%

 

 

23.88

 

 

Safeway, CVS, Ross Dress for Less

Shoppes at Homestead

 

San Jose-Sunnyvale-Santa Clara

 

CA

 

 

 

1999

 

1983

 

 

—

 

 

 

116

 

 

98.2%

 

 

28.14

 

 

CVS, Crunch Fitness, (Orchard Supply Hardware)

Snell & Branham Plaza

 

San Jose-Sunnyvale-Santa Clara

 

CA

 

40%

 

2005

 

1988

 

 

19,048

 

 

 

99

 

 

98.6%

 

 

22.60

 

 

Safeway

The Pruneyard

 

San Jose-Sunnyvale-Santa Clara

 

CA

 

 

 

2019

 

2014

 

 

—

 

 

 

260

 

 

94.6%

 

 

44.95

 

 

Trader Joe's, The Sports Basement, Camera Cinemas, Marshalls

West Park Plaza

 

San Jose-Sunnyvale-Santa Clara

 

CA

 

 

 

1999

 

1996

 

 

—

 

 

 

88

 

 

100.0%

 

 

23.64

 

 

Safeway, Crunch Fitness

Golden Hills Plaza

 

San Luis Obispo-Paso Robles

 

CA

 

 

 

2006

 

2017

 

 

—

 

 

 

256

 

 

88.4%

 

 

8.47

 

 

Lowe's, TJ Maxx, Trader Joe's

Five Points Shopping Center

 

Santa Maria-Santa Barbara

 

CA

 

40%

 

2005

 

2014

 

 

—

 

 

 

145

 

 

97.6%

 

 

32.98

 

 

Smart & Final, CVS, Ross Dress for Less, Big 5 Sporting Goods, PETCO

Corral Hollow

 

Stockton

 

CA

 

 

 

2000

 

2000

 

 

—

 

 

 

153

 

 

100.0%

 

 

19.47

 

 

Safeway, CVS, Crunch Fitness

Alcove On Arapahoe

 

Boulder

 

CO

 

40%

 

2005

 

1957/2019

 

 

26,390

 

 

 

160

 

 

93.6%

 

 

21.22

 

 

Petco, HomeGoods, Safeway, Ulta Salon, DSW

Crossroads Commons

 

Boulder

 

CO

 

20%

 

2001

 

1986

 

 

34,500

 

 

 

143

 

 

90.3%

 

 

31.47

 

 

Whole Foods, Barnes & Noble

29

 

Property Name

 

CBSA (1)

 

State

 

Owner-
ship
Interest  (2)

 

Year
Acquired

 

Year
Constructed
or Last Major
Renovation

 

Mortgages or
Encumbrances
(in 000's)

 

 

Gross
Leasable
Area
(GLA)
(in 000's)

 

 

Percent
Leased  (3)

 

Average
Base Rent
PSF (4)

 

 

MajorTenant(s) (5)

Crossroads Commons II

 

Boulder

 

CO

 

20%

 

2018

 

1995

 

 

5,500

 

 

 

18

 

 

100.0%

 

 

43.55

 

 

(Whole Foods), (Barnes & Noble)

Falcon Marketplace

 

Colorado Springs

 

CO

 

 

 

2005

 

2005

 

 

—

 

 

 

22

 

 

100.0%

 

 

29.88

 

 

(Wal-Mart)

Marketplace at Briargate

 

Colorado Springs

 

CO

 

 

 

2006

 

2006

 

 

—

 

 

 

29

 

 

100.0%

 

 

38.59

 

 

(King Soopers)

Monument Jackson Creek

 

Colorado Springs

 

CO

 

 

 

1998

 

1999

 

 

—

 

 

 

85

 

 

98.4%

 

 

13.75

 

 

King Soopers

Woodmen Plaza

 

Colorado Springs

 

CO

 

 

 

1998

 

1998

 

 

—

 

 

 

116

 

 

97.6%

 

 

14.64

 

 

King Soopers

Applewood Shopping Ctr

 

Denver-Aurora-Lakewood

 

CO

 

40%

 

2005

 

2017/2020

 

 

—

 

 

 

366

 

 

94.4%

 

 

16.89

 

 

Applejack Liquors, Hobby Lobby, Homegoods, King Soopers, PetSmart, Sierra Trading Post, Ulta, Three Little Mingos, Crunch Fitness

Belleview Square

 

Denver-Aurora-Lakewood

 

CO

 

 

 

2004

 

2013

 

 

—

 

 

 

117

 

 

100.0%

 

 

23.82

 

 

King Soopers

Boulevard Center

 

Denver-Aurora-Lakewood

 

CO

 

 

 

1999

 

1986

 

 

—

 

 

 

81

 

 

94.5%

 

 

33.91

 

 

Eye Care Specialists, (Safeway)

Buckley Square

 

Denver-Aurora-Lakewood

 

CO

 

 

 

1999

 

1978

 

 

—

 

 

 

116

 

 

98.9%

 

 

13.32

 

 

Ace Hardware, King Soopers

Cherrywood Square Shop Ctr

 

Denver-Aurora-Lakewood

 

CO

 

40%

 

2005

 

1978

 

 

9,650

 

 

 

97

 

 

97.5%

 

 

13.07

 

 

King Soopers

Hilltop Village

 

Denver-Aurora-Lakewood

 

CO

 

 

 

2002

 

2018

 

 

—

 

 

 

101

 

 

98.7%

 

 

14.14

 

 

King Soopers

Littleton Square

 

Denver-Aurora-Lakewood

 

CO

 

 

 

1999

 

2015

 

 

—

 

 

 

99

 

 

97.5%

 

 

12.73

 

 

King Soopers

Lloyd King Center

 

Denver-Aurora-Lakewood

 

CO

 

 

 

1998

 

1998

 

 

—

 

 

 

83

 

 

100.0%

 

 

13.00

 

 

King Soopers

Lone Tree Village (7)

 

Denver-Aurora-Lakewood

 

CO

 

 

 

2025

 

2025

 

 

—

 

 

 

158

 

 

81.2%

 

 

7.38

 

 

King Soopers

Shops at Quail Creek

 

Denver-Aurora-Lakewood

 

CO

 

 

 

2008

 

2008

 

 

—

 

 

 

38

 

 

85.0%

 

 

31.31

 

 

(King Soopers)

Stroh Ranch

 

Denver-Aurora-Lakewood

 

CO

 

 

 

1998

 

1998

 

 

—

 

 

 

93

 

 

100.0%

 

 

15.28

 

 

King Soopers

Centerplace of Greeley III

 

Greeley

 

CO

 

 

 

2007

 

2007

 

 

—

 

 

 

119

 

 

100.0%

 

 

13.32

 

 

Hobby Lobby, Best Buy, TJ Maxx

22 Crescent Road

 

Bridgeport-Stamford-Norwalk

 

CT

 

 

 

2017

 

1984

 

 

—

 

 

 

4

 

 

100.0%

 

 

69.00

 

 

-

470 Main Street

 

Bridgeport-Stamford-Norwalk

 

CT

 

 

 

2023

 

1972

 

 

—

 

 

 

22

 

 

91.6%

 

 

32.85

 

 

-

91 Danbury Road

 

Bridgeport-Stamford-Norwalk

 

CT

 

 

 

2017

 

1965

 

 

—

 

 

 

5

 

 

100.0%

 

 

31.26

 

 

0

970 High Ridge Center

 

Bridgeport-Stamford-Norwalk

 

CT

 

 

 

2023

 

1960

 

 

—

 

 

 

26

 

 

94.0%

 

 

37.60

 

 

BevMax

Airport Plaza

 

Bridgeport-Stamford-Norwalk

 

CT

 

 

 

2023

 

1974

 

 

—

 

 

 

33

 

 

100.0%

 

 

31.56

 

 

-

Bethel Hub Center

 

Bridgeport-Stamford-Norwalk

 

CT

 

 

 

2023

 

1957

 

 

—

 

 

 

31

 

 

85.3%

 

 

18.32

 

 

La Placita Bethel Market

Black Rock

 

Bridgeport-Stamford-Norwalk

 

CT

 

80%

 

2014

 

1996

 

 

14,939

 

 

 

98

 

 

94.0%

 

 

33.29

 

 

Old Navy, The Clubhouse

Brick Walk (6)

 

Bridgeport-Stamford-Norwalk

 

CT

 

80%

 

2014

 

2007

 

 

30,234

 

 

 

122

 

 

97.3%

 

 

47.81

 

 

-

Compo Acres Shopping Center

 

Bridgeport-Stamford-Norwalk

 

CT

 

 

 

2017

 

2011

 

 

—

 

 

 

43

 

 

95.9%

 

 

58.23

 

 

Trader Joe's

Compo Shopping Center

 

Bridgeport-Stamford-Norwalk

 

CT

 

 

 

2024

 

1953

 

 

—

 

 

 

71

 

 

97.4%

 

 

57.76

 

 

CVS

Copps Hill Plaza

 

Bridgeport-Stamford-Norwalk

 

CT

 

 

 

2017

 

2002

 

 

—

 

 

 

173

 

 

88.1%

 

 

22.65

 

 

Stop & Shop, Homegoods, Marshalls, Rite Aid, Michael's

Cos Cob Commons

 

Bridgeport-Stamford-Norwalk

 

CT

 

 

 

2023

 

1986

 

 

—

 

 

 

48

 

 

91.3%

 

 

54.05

 

 

CVS

Cos Cob Plaza

 

Bridgeport-Stamford-Norwalk

 

CT

 

 

 

2023

 

1947

 

 

3,577

 

 

 

15

 

 

92.2%

 

 

60.19

 

 

-

Danbury Green

 

Bridgeport-Stamford-Norwalk

 

CT

 

 

 

2017

 

2006

 

 

—

 

 

 

124

 

 

89.1%

 

 

27.72

 

 

Trader Joe's, Hilton Garden Inn, DSW, Staples, Warehouse Wines & Liquors

Danbury Square

 

Bridgeport-Stamford-Norwalk

 

CT

 

 

 

2023

 

1987

 

 

—

 

 

 

194

 

 

98.9%

 

 

12.03

 

 

Ocean State Job Lot, Planet Fitness, Elicit Brewing Company, Hobby Lobby

Darinor Plaza (6)

 

Bridgeport-Stamford-Norwalk

 

CT

 

 

 

2017

 

1978

 

 

—

 

 

 

154

 

 

100.0%

 

 

20.69

 

 

Kohl's, Old Navy, Ulta

Fairfield Center (6)

 

Bridgeport-Stamford-Norwalk

 

CT

 

80%

 

2014

 

2000

 

 

—

 

 

 

95

 

 

98.4%

 

 

40.40

 

 

Fairfield University Bookstore, Merril Lynch, Merrit Hospitality

Fairfield Crossroads

 

Bridgeport-Stamford-Norwalk

 

CT

 

 

 

2023

 

1995

 

 

—

 

 

 

62

 

 

100.0%

 

 

25.28

 

 

Marshalls, DSW

Greenwich Commons

 

Bridgeport-Stamford-Norwalk

 

CT

 

 

 

2023

 

1961

 

 

4,461

 

 

 

10

 

 

100.0%

 

 

93.92

 

 

-

High Ridge Center

 

Bridgeport-Stamford-Norwalk

 

CT

 

100%

 

2023

 

1968

 

 

10,000

 

 

 

93

 

 

100.0%

 

 

51.74

 

 

Trader Joe's, Barnes & Noble

Knotts Landing

 

Bridgeport-Stamford-Norwalk

 

CT

 

 

 

2023

 

1994

 

 

—

 

 

 

6

 

 

100.0%

 

 

77.89

 

 

-

Main & Bailey

 

Bridgeport-Stamford-Norwalk

 

CT

 

 

 

2023

 

1950

 

 

—

 

 

 

60

 

 

82.0%

 

 

28.70

 

 

-

Newfield Green

 

Bridgeport-Stamford-Norwalk

 

CT

 

 

 

2023

 

1966

 

 

18,175

 

 

 

74

 

 

100.0%

 

 

42.02

 

 

Grade A Market, CVS

Old Greenwich CVS

 

Bridgeport-Stamford-Norwalk

 

CT

 

100%

 

2023

 

1941

 

 

799

 

 

 

8

 

 

100.0%

 

 

45.00

 

 

-

Old Kings Market

 

Bridgeport-Stamford-Norwalk

 

CT

 

 

 

2023

 

1955

 

 

22,111

 

 

 

96

 

 

98.8%

 

 

43.08

 

 

Stop & Shop

Post Road Plaza

 

Bridgeport-Stamford-Norwalk

 

CT

 

 

 

2017

 

1978

 

 

—

 

 

 

20

 

 

100.0%

 

 

60.80

 

 

Trader Joe's

Ridgeway Shopping Center

 

Bridgeport-Stamford-Norwalk

 

CT

 

 

 

2023

 

1952

 

 

40,688

 

 

 

359

 

 

97.0%

 

 

31.18

 

 

Stop & Shop, LA Fitness, Marshalls, Michael's, Staples, Old Navy, ULTA, DSW

30

 

Property Name

 

CBSA (1)

 

State

 

Owner-
ship
Interest  (2)

 

Year
Acquired

 

Year
Constructed
or Last Major
Renovation

 

Mortgages or
Encumbrances
(in 000's)

 

 

Gross
Leasable
Area
(GLA)
(in 000's)

 

 

Percent
Leased  (3)

 

Average
Base Rent
PSF (4)

 

 

MajorTenant(s) (5)

Shelton Square

 

Bridgeport-Stamford-Norwalk

 

CT

 

 

 

2023

 

1982

 

 

—

 

 

 

189

 

 

98.4%

 

 

20.18

 

 

Stop & Shop, Homegoods, Hawley Lane, Edge Fitness

Station Centre @ Old Greenwich

 

Bridgeport-Stamford-Norwalk

 

CT

 

 

 

2023

 

1952

 

 

—

 

 

 

39

 

 

96.6%

 

 

37.52

 

 

Kings Food Markets

The Dock-Dockside

 

Bridgeport-Stamford-Norwalk

 

CT

 

 

 

2023

 

1974

 

 

32,125

 

 

 

278

 

 

98.9%

 

 

19.73

 

 

Stop & Shop, BJ's Whole Sale, Edge Fitness, West Marine, Petco, Dollar Tree, Osaka Hibachi

The Hub at Norwalk

 

Bridgeport-Stamford-Norwalk

 

CT

 

 

 

2017

 

2003

 

 

—

 

 

 

146

 

 

100.0%

 

 

23.66

 

 

HomeGoods, Target

Westport Collection

 

Bridgeport-Stamford-Norwalk

 

CT

 

 

 

2023

 

1958

 

 

—

 

 

 

40

 

 

51.3%

 

 

27.48

 

 

BevMax

Westport Row

 

Bridgeport-Stamford-Norwalk

 

CT

 

 

 

2017

 

1988

 

 

—

 

 

 

95

 

 

100.0%

 

 

46.19

 

 

The Fresh Market, Pottery Barn

Brookside Plaza

 

Hartford-E Hartford-Middletown

 

CT

 

 

 

2017

 

2006

 

 

—

 

 

 

226

 

 

96.5%

 

 

16.69

 

 

Burlington Coat Factory, PetSmart, ShopRite, Staples, TJ Maxx, LL Bean

Corbin's Corner

 

Hartford-E Hartford-Middletown

 

CT

 

40%

 

2005

 

2015

 

 

53,000

 

 

 

195

 

 

100.0%

 

 

33.00

 

 

Best Buy, Edge Fitness, Old Navy, The Tile Shop, Total Wine and More, Trader Joe's

Aldi Square

 

New Haven-Milford

 

CT

 

 

 

2023

 

2014

 

 

—

 

 

 

38

 

 

88.9%

 

 

16.87

 

 

Aldi

Orange Meadows

 

New Haven-Milford

 

CT

 

 

 

2023

 

1990

 

 

—

 

 

 

84

 

 

100.0%

 

 

25.65

 

 

Trader Joe's, TJMaxx, Bob's Discount Furniture, Ulta

Southbury Green

 

New Haven-Milford

 

CT

 

 

 

2017

 

2002

 

 

—

 

 

 

156

 

 

91.4%

 

 

24.50

 

 

ShopRite, Homegoods

The Shops at Stone Bridge

 

New Haven-Milford

 

CT

 

 

 

2024

 

2025

 

 

—

 

 

 

156

 

 

97.0%

 

 

31.65

 

 

Whole Foods, TJ Maxx, Barnes & Noble

New Milford Plaza

 

Torrington

 

CT

 

 

 

2023

 

1970

 

 

—

 

 

 

235

 

 

93.3%

 

 

10.53

 

 

Walmart, Stop & Shop, Dollar Tree

Sunny Valley Shops

 

Torrington

 

CT

 

 

 

2023

 

2003

 

 

—

 

 

 

72

 

 

93.3%

 

 

12.74

 

 

Staples, Planet Fitness

Veterans Plaza

 

Torrington

 

CT

 

 

 

2023

 

1966

 

 

—

 

 

 

80

 

 

100.0%

 

 

12.94

 

 

Big Y World Class Market, BevMax

Shops at The Columbia

 

Washington-Arlington-Alexandri

 

DC

 

 

 

2006

 

1991

 

 

—

 

 

 

23

 

 

100.0%

 

 

40.55

 

 

Trader Joe's

Spring Valley Shopping Center

 

Washington-Arlington-Alexandri

 

DC

 

40%

 

2005

 

1930

 

 

12,897

 

 

 

17

 

 

100.0%

 

 

100.25

 

 

-

Pike Creek

 

Philadelphia-Camden-Wilmington

 

DE

 

 

 

1998

 

2013

 

 

—

 

 

 

233

 

 

93.3%

 

 

18.72

 

 

Acme Markets, Edge Fitness, Pike Creek Community Hardware

Shoppes of Graylyn

 

Philadelphia-Camden-Wilmington

 

DE

 

40%

 

2005

 

1971

 

 

—

 

 

 

64

 

 

94.6%

 

 

28.62

 

 

Lidl

Corkscrew Village

 

Cape Coral-Fort Myers

 

FL

 

 

 

2007

 

1997

 

 

—

 

 

 

82

 

 

96.1%

 

 

16.21

 

 

Publix

Shoppes of Grande Oak

 

Cape Coral-Fort Myers

 

FL

 

 

 

2000

 

2000

 

 

—

 

 

 

79

 

 

100.0%

 

 

19.14

 

 

Publix

Millhopper Shopping Center

 

Gainesville

 

FL

 

 

 

1993

 

2017

 

 

—

 

 

 

80

 

 

97.7%

 

 

19.80

 

 

Publix

Newberry Square

 

Gainesville

 

FL

 

 

 

1994

 

1986

 

 

—

 

 

 

181

 

 

95.2%

 

 

11.21

 

 

Publix, Floor & Décor, Dollar Tree

Anastasia Plaza

 

Jacksonville

 

FL

 

 

 

1993

 

in-process

 

 

—

 

 

 

103

 

 

97.7%

 

 

27.16

 

 

Publix

Atlantic Village

 

Jacksonville

 

FL

 

 

 

2017

 

2014

 

 

—

 

 

 

110

 

 

100.0%

 

 

20.11

 

 

LA Fitness, Pet Supplies Plus

Brooklyn Station on Riverside

 

Jacksonville

 

FL

 

 

 

2013

 

2013

 

 

—

 

 

 

50

 

 

97.6%

 

 

30.53

 

 

The Fresh Market

Courtyard Shopping Center

 

Jacksonville

 

FL

 

 

 

1993

 

1987

 

 

—

 

 

 

137

 

 

100.0%

 

 

3.68

 

 

Target, (Publix)

East San Marco

 

Jacksonville

 

FL

 

 

 

2007

 

2022

 

 

—

 

 

 

59

 

 

100.0%

 

 

28.74

 

 

Publix

Fleming Island

 

Jacksonville

 

FL

 

 

 

1998

 

2000

 

 

—

 

 

 

136

 

 

98.5%

 

 

18.56

 

 

Publix, PETCO, Planet Fitness, (Target)

Hibernia Pavilion

 

Jacksonville

 

FL

 

 

 

2006

 

2006

 

 

—

 

 

 

51

 

 

100.0%

 

 

16.95

 

 

Publix

John's Creek Center

 

Jacksonville

 

FL

 

20%

 

2003

 

2004

 

 

12,000

 

 

 

82

 

 

100.0%

 

 

17.77

 

 

Publix

Julington Village

 

Jacksonville

 

FL

 

20%

 

1999

 

1999

 

 

10,000

 

 

 

82

 

 

100.0%

 

 

18.47

 

 

Publix, (CVS)

Mandarin Landing

 

Jacksonville

 

FL

 

 

 

2017

 

2024

 

 

—

 

 

 

140

 

 

100.0%

 

 

23.17

 

 

Whole Foods, Aveda Institute, Baptist Health, Cooper's Hawk

Nocatee Town Center

 

Jacksonville

 

FL

 

 

 

2007

 

2017

 

 

—

 

 

 

114

 

 

100.0%

 

 

24.58

 

 

Publix

Oakleaf Commons

 

Jacksonville

 

FL

 

 

 

2006

 

2006

 

 

—

 

 

 

77

 

 

100.0%

 

 

18.12

 

 

Publix

Old St Augustine Plaza

 

Jacksonville

 

FL

 

 

 

1996

 

2017/2020

 

 

—

 

 

 

248

 

 

100.0%

 

 

11.77

 

 

Publix, Burlington Coat Factory, Hobby Lobby, LA Fitness, Ross Dress for Less

Pablo Plaza

 

Jacksonville

 

FL

 

 

 

2017

 

2020

 

 

—

 

 

 

162

 

 

100.0%

 

 

19.69

 

 

Whole Foods, Office Depot, Marshalls, HomeGoods, PetSmart

Pine Tree Plaza

 

Jacksonville

 

FL

 

 

 

1997

 

1999

 

 

—

 

 

 

63

 

 

100.0%

 

 

16.20

 

 

Publix

Seminole Shoppes

 

Jacksonville

 

FL

 

50%

 

2009

 

2018

 

 

7,500

 

 

 

87

 

 

98.6%

 

 

25.83

 

 

Publix

Shoppes at Bartram Park

 

Jacksonville

 

FL

 

50%

 

2005

 

2017

 

 

—

 

 

 

135

 

 

97.8%

 

 

23.92

 

 

Publix, (Kohl's), (Tutor Time)

Shops at John's Creek

 

Jacksonville

 

FL

 

 

 

2003

 

2004

 

 

—

 

 

 

15

 

 

100.0%

 

 

29.78

 

 

-

South Beach Regional

 

Jacksonville

 

FL

 

 

 

2017

 

1990

 

 

—

 

 

 

305

 

 

99.2%

 

 

19.47

 

 

Trader Joe's, Home Depot, Ross Dress for Less, Staples, Nordstrom Rack, TJ Maxx

31

 

Property Name

 

CBSA (1)

 

State

 

Owner-
ship
Interest  (2)

 

Year
Acquired

 

Year
Constructed
or Last Major
Renovation

 

Mortgages or
Encumbrances
(in 000's)

 

 

Gross
Leasable
Area
(GLA)
(in 000's)

 

 

Percent
Leased  (3)

 

Average
Base Rent
PSF (4)

 

 

MajorTenant(s) (5)

Starke (6)

 

Jacksonville

 

FL

 

 

 

2000

 

2000

 

 

—

 

 

 

13

 

 

0.0%

 

 

-

 

 

-

The Village at Seven Pines (7)

 

Jacksonville

 

FL

 

 

 

2025

 

2025

 

 

—

 

 

 

239

 

 

57.5%

 

 

29.54

 

 

Publix, West Elm

Avenida Biscayne

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2017

 

in-process

 

 

—

 

 

 

142

 

 

100.0%

 

 

61.08

 

 

DSW, Jewelry Exchange, Old Navy, The Fresh Market

Aventura Shopping Center

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

1994

 

2017

 

 

—

 

 

 

97

 

 

100.0%

 

 

40.62

 

 

CVS, Publix

Banco Popular Building

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2017

 

1971

 

 

—

 

 

 

5

 

 

100.0%

 

 

92.31

 

 

-

Bird 107 Plaza

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2017

 

1990

 

 

—

 

 

 

40

 

 

100.0%

 

 

24.73

 

 

Walgreens

Bird Ludlam

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2017

 

1998

 

 

—

 

 

 

192

 

 

96.9%

 

 

27.92

 

 

CVS, Goodwill, Winn-Dixie

Boca Village Square

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2017

 

2014

 

 

—

 

 

 

92

 

 

100.0%

 

 

24.64

 

 

CVS, Publix

Boynton Lakes Plaza

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

1997

 

2012

 

 

—

 

 

 

110

 

 

95.9%

 

 

18.01

 

 

Citi Trends, Pet Supermarket, Publix

Boynton Plaza

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2017

 

2015

 

 

—

 

 

 

105

 

 

99.1%

 

 

22.43

 

 

CVS, Publix

Caligo Crossing

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2007

 

2007

 

 

—

 

 

 

15

 

 

100.0%

 

 

45.82

 

 

(Kohl's)

Chasewood Plaza

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

1993

 

2015

 

 

—

 

 

 

152

 

 

97.0%

 

 

30.17

 

 

Publix, Pet Smart

Concord Shopping Plaza

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2017

 

1993

 

 

—

 

 

 

309

 

 

100.0%

 

 

15.47

 

 

Big Lots, Dollar Tree, Home Depot, Winn-Dixie, YouFit Health Club

Coral Reef Shopping Center

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2017

 

1990

 

 

—

 

 

 

75

 

 

98.7%

 

 

35.07

 

 

Aldi, Walgreens

Country Walk Plaza

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2017

 

2008

 

 

—

 

 

 

101

 

 

99.7%

 

 

28.62

 

 

Publix, CVS

Countryside Shops

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2017

 

1991/2018

 

 

—

 

 

 

186

 

 

97.9%

 

 

24.40

 

 

Publix, Ross Dress for Less, Painted Tree Boutique

Fountain Square

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2013

 

2013

 

 

—

 

 

 

177

 

 

100.0%

 

 

30.91

 

 

Publix, Ross Dress for Less, TJ Maxx, Ulta, (Target)

Gardens Square

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

1997

 

1991

 

 

—

 

 

 

90

 

 

96.1%

 

 

19.85

 

 

Publix

Greenwood Shopping Centre

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2017

 

1994

 

 

—

 

 

 

133

 

 

97.4%

 

 

18.40

 

 

Publix, Bealls

Pine Island

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2017

 

1999

 

 

—

 

 

 

255

 

 

91.4%

 

 

17.67

 

 

Publix, YouFit Health Club, Floor and Décor, Advanced Veterinary Care Center

Pine Ridge Square

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2017

 

2013

 

 

—

 

 

 

118

 

 

97.6%

 

 

22.90

 

 

The Fresh Market, Marshalls, Ulta, Nordstrom Rack

Pinecrest Place (6)

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2017

 

2017

 

 

—

 

 

 

70

 

 

98.3%

 

 

44.57

 

 

Whole Foods, (Target)

Point Royale Shopping Center

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2017

 

2018

 

 

—

 

 

 

202

 

 

99.0%

 

 

17.45

 

 

Winn-Dixie, Burlington Coat Factory, Pasteur Medical Center, Planet Fitness, Dollar Tree

Prosperity Centre

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2017

 

1993

 

 

—

 

 

 

124

 

 

98.8%

 

 

26.64

 

 

Plum Market, TJ Maxx, CVS

Sawgrass Promenade

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2017

 

1998

 

 

—

 

 

 

107

 

 

89.9%

 

 

15.70

 

 

Publix, Walgreens, Dollar Tree

Sheridan Plaza

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2017

 

1991/2022

 

 

—

 

 

 

507

 

 

93.8%

 

 

21.41

 

 

Publix, Kohl's, LA Fitness, Ross Dress for Less, Pet Supplies Plus, Burlington, Marshalls

Shoppes @ 104

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

1998

 

2018

 

 

—

 

 

 

127

 

 

100.0%

 

 

23.33

 

 

Fresco y Mas, CVS

Shoppes at Lago Mar

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2017

 

1995

 

 

—

 

 

 

83

 

 

94.3%

 

 

17.53

 

 

Publix, YouFit Health Club

Shoppes of Jonathan's Landing

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2017

 

1997

 

 

—

 

 

 

27

 

 

100.0%

 

 

33.94

 

 

(Publix)

Shoppes of Oakbrook

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2017

 

2003

 

 

—

 

 

 

183

 

 

59.8%

 

 

22.21

 

 

Publix, Duffy's Sports Bar, CVS

Shoppes of Silver Lakes

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2017

 

1997

 

 

—

 

 

 

127

 

 

99.2%

 

 

22.70

 

 

Publix, Goodwill

Shoppes of Sunset

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2017

 

2009

 

 

—

 

 

 

22

 

 

81.9%

 

 

30.22

 

 

-

Shoppes of Sunset II

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2017

 

2009

 

 

—

 

 

 

28

 

 

100.0%

 

 

26.16

 

 

-

Shops at Skylake

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2017

 

2006

 

 

—

 

 

 

287

 

 

98.2%

 

 

27.04

 

 

Publix, LA Fitness, TJ Maxx, Goodwill, Pasteur Medical

University Commons (6)

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2015

 

2001

 

 

—

 

 

 

180

 

 

100.0%

 

 

35.87

 

 

Whole Foods, Nordstrom Rack, Barnes & Noble, Bed Bath & Beyond

Waterstone Plaza

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2017

 

2005

 

 

—

 

 

 

61

 

 

100.0%

 

 

19.24

 

 

Publix

Welleby Plaza

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

1996

 

1982

 

 

—

 

 

 

110

 

 

96.8%

 

 

16.38

 

 

Publix, Dollar Tree

Wellington Town Square

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

1996

 

2022

 

 

—

 

 

 

108

 

 

97.0%

 

 

26.33

 

 

Publix, CVS

West Bird Plaza

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2017

 

2000/2021

 

 

—

 

 

 

99

 

 

98.2%

 

 

28.26

 

 

Publix

West Lake Shopping Center

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2017

 

2000

 

 

—

 

 

 

101

 

 

100.0%

 

 

24.23

 

 

Fresco y Mas, CVS

Westport Plaza

 

Miami-Ft Lauderdale-PompanoBch

 

FL

 

 

 

2017

 

2002

 

 

—

 

 

 

47

 

 

100.0%

 

 

24.07

 

 

Publix

Berkshire Commons

 

Naples-Marco Island

 

FL

 

 

 

1994

 

1992

 

 

—

 

 

 

110

 

 

98.9%

 

 

16.59

 

 

Publix, Walgreens

Naples Walk

 

Naples-Marco Island

 

FL

 

 

 

2007

 

1999

 

 

—

 

 

 

125

 

 

95.8%

 

 

19.69

 

 

Publix

32

 

Property Name

 

CBSA (1)

 

State

 

Owner-
ship
Interest  (2)

 

Year
Acquired

 

Year
Constructed
or Last Major
Renovation

 

Mortgages or
Encumbrances
(in 000's)

 

 

Gross
Leasable
Area
(GLA)
(in 000's)

 

 

Percent
Leased  (3)

 

Average
Base Rent
PSF (4)

 

 

MajorTenant(s) (5)

Pavilion

 

Naples-Marco Island

 

FL

 

 

 

2017

 

2011

 

 

—

 

 

 

168

 

 

96.2%

 

 

25.28

 

 

LA Fitness, Paragon Theaters, J. Lee Salon Suites

Shoppes of Pebblebrook Plaza

 

Naples-Marco Island

 

FL

 

50%

 

2000

 

2000

 

 

—

 

 

 

80

 

 

100.0%

 

 

17.98

 

 

Publix, (Walgreens)

Alafaya Village

 

Orlando-Kissimmee-Sanford

 

FL

 

 

 

2017

 

1986

 

 

—

 

 

 

39

 

 

100.0%

 

 

27.82

 

 

-

Kirkman Shoppes

 

Orlando-Kissimmee-Sanford

 

FL

 

 

 

2017

 

2015

 

 

—

 

 

 

115

 

 

97.6%

 

 

27.87

 

 

LA Fitness, Walgreens

Lake Mary Centre

 

Orlando-Kissimmee-Sanford

 

FL

 

 

 

2017

 

2015

 

 

—

 

 

 

356

 

 

96.0%

 

 

19.40

 

 

The Fresh Market, Academy Sports, Hobby Lobby, LA Fitness, Ross Dress for Less, Office Depot

Plaza Venezia

 

Orlando-Kissimmee-Sanford

 

FL

 

20%

 

2016

 

2000

 

 

55,000

 

 

 

203

 

 

99.5%

 

 

36.07

 

 

Publix, Eddie V's

Town and Country

 

Orlando-Kissimmee-Sanford

 

FL

 

 

 

2017

 

1993

 

 

—

 

 

 

78

 

 

100.0%

 

 

12.20

 

 

Ross Dress for Less

Unigold Shopping Center

 

Orlando-Kissimmee-Sanford

 

FL

 

 

 

2017

 

1987

 

 

—

 

 

 

115

 

 

91.2%

 

 

16.35

 

 

YouFit Health Club, Ross Dress for Less

Willa Springs

 

Orlando-Kissimmee-Sanford

 

FL

 

 

 

2000

 

1979

 

 

16,700

 

 

 

90

 

 

100.0%

 

 

25.90

 

 

Publix

Cashmere Corners

 

Port St. Lucie

 

FL

 

 

 

2017

 

2016

 

 

—

 

 

 

86

 

 

100.0%

 

 

17.91

 

 

WalMart

The Plaza at St. Lucie West

 

Port St. Lucie

 

FL

 

 

 

2017

 

2006

 

 

—

 

 

 

27

 

 

100.0%

 

 

28.25

 

 

-

Charlotte Square

 

Punta Gorda

 

FL

 

 

 

2017

 

1980

 

 

—

 

 

 

91

 

 

91.1%

 

 

12.24

 

 

WalMart, Buffet City

Ryanwood Square

 

Sebastian-Vero Beach

 

FL

 

 

 

2017

 

1987

 

 

—

 

 

 

115

 

 

91.1%

 

 

12.73

 

 

Publix, Beall's, Harbor Freight Tools

South Point

 

Sebastian-Vero Beach

 

FL

 

 

 

2017

 

2003

 

 

—

 

 

 

72

 

 

100.0%

 

 

16.70

 

 

Publix

Treasure Coast Plaza

 

Sebastian-Vero Beach

 

FL

 

 

 

2017

 

1983

 

 

—

 

 

 

134

 

 

100.0%

 

 

19.92

 

 

Publix, TJ Maxx

Carriage Gate

 

Tallahassee

 

FL

 

 

 

1994

 

2013

 

 

—

 

 

 

73

 

 

100.0%

 

 

26.56

 

 

Trader Joe's, TJ Maxx

Ocala Corners (6)

 

Tallahassee

 

FL

 

 

 

2000

 

2000

 

 

—

 

 

 

93

 

 

96.0%

 

 

15.02

 

 

Publix

Bloomingdale Square

 

Tampa-St Petersburg-Clearwater

 

FL

 

 

 

1998

 

2021

 

 

—

 

 

 

252

 

 

99.5%

 

 

21.69

 

 

Bealls, Dollar Tree, Home Centric, LA Fitness, Publix

Northgate Square

 

Tampa-St Petersburg-Clearwater

 

FL

 

 

 

2007

 

1995

 

 

—

 

 

 

75

 

 

100.0%

 

 

17.72

 

 

Publix

Regency Square

 

Tampa-St Petersburg-Clearwater

 

FL

 

 

 

1993

 

2013

 

 

—

 

 

 

362

 

 

98.3%

 

 

21.83

 

 

AMC Theater, Dollar Tree, Five Below, Marshalls, Michael's, PETCO, Shoe Carnival, TJ Maxx, Ulta, Old Navy, (Best Buy), (Macdill)

Shoppes at Sunlake Centre

 

Tampa-St Petersburg-Clearwater

 

FL

 

 

 

2017

 

2008

 

 

—

 

 

 

117

 

 

100.0%

 

 

28.12

 

 

Publix

Suncoast Crossing (6)

 

Tampa-St Petersburg-Clearwater

 

FL

 

 

 

2007

 

2007

 

 

—

 

 

 

122

 

 

100.0%

 

 

7.77

 

 

Kohl's, (Target)

The Village at Hunter's Lake

 

Tampa-St Petersburg-Clearwater

 

FL

 

 

 

2018

 

2018

 

 

—

 

 

 

72

 

 

100.0%

 

 

29.96

 

 

Sprouts

Town Square

 

Tampa-St Petersburg-Clearwater

 

FL

 

 

 

1997

 

1999

 

 

—

 

 

 

44

 

 

100.0%

 

 

36.71

 

 

PETCO, Barnes & Noble

Village Center

 

Tampa-St Petersburg-Clearwater

 

FL

 

 

 

1995

 

2014

 

 

—

 

 

 

186

 

 

100.0%

 

 

23.98

 

 

Publix, PGA Tour Superstore, Walgreens

Westchase

 

Tampa-St Petersburg-Clearwater

 

FL

 

 

 

2007

 

1998

 

 

—

 

 

 

79

 

 

100.0%

 

 

18.64

 

 

Publix

Ashford Place

 

Atlanta-SandySprings-Alpharett

 

GA

 

 

 

1997

 

1993

 

 

—

 

 

 

53

 

 

100.0%

 

 

26.85

 

 

Harbor Freight Tools

Briarcliff La Vista

 

Atlanta-SandySprings-Alpharett

 

GA

 

 

 

1997

 

1962

 

 

—

 

 

 

45

 

 

75.5%

 

 

19.24

 

 

Michael's

Briarcliff Village

 

Atlanta-SandySprings-Alpharett

 

GA

 

 

 

1997

 

1990

 

 

—

 

 

 

189

 

 

92.1%

 

 

17.94

 

 

Burlington, Publix, Shoe Carnival, TJ Maxx

Bridgemill Market

 

Atlanta-SandySprings-Alpharett

 

GA

 

 

 

2017

 

2000

 

 

—

 

 

 

89

 

 

90.7%

 

 

20.16

 

 

Publix

Brighten Park

 

Atlanta-SandySprings-Alpharett

 

GA

 

 

 

1997

 

2016

 

 

—

 

 

 

137

 

 

91.3%

 

 

29.42

 

 

Lidl, Big Blue Swim School, Kohl's

Buckhead Court

 

Atlanta-SandySprings-Alpharett

 

GA

 

 

 

1997

 

1984

 

 

—

 

 

 

49

 

 

98.1%

 

 

34.33

 

 

-

Buckhead Landing

 

Atlanta-SandySprings-Alpharett

 

GA

 

 

 

2017

 

1998/2024

 

 

—

 

 

 

152

 

 

98.7%

 

 

34.60

 

 

Binders Art Supplies & Frames, Publix, Golf Galaxy

Buckhead Station

 

Atlanta-SandySprings-Alpharett

 

GA

 

 

 

2017

 

1996

 

 

—

 

 

 

241

 

 

98.4%

 

 

27.68

 

 

Cost Plus World Market, DSW Warehouse, Nordstrom Rack, Old Navy, Saks Off 5th, TJ Maxx, Ulta, Bloomingdale's Outlet, Gold's Gym

Cambridge Square

 

Atlanta-SandySprings-Alpharett

 

GA

 

 

 

1996

 

in-process

 

 

—

 

 

 

74

 

 

100.0%

 

 

27.59

 

 

Publix

Chastain Square

 

Atlanta-SandySprings-Alpharett

 

GA

 

 

 

2017

 

2001

 

 

—

 

 

 

92

 

 

100.0%

 

 

24.65

 

 

Publix

Cornerstone Square

 

Atlanta-SandySprings-Alpharett

 

GA

 

 

 

1997

 

1990

 

 

—

 

 

 

80

 

 

90.7%

 

 

19.85

 

 

Aldi, Barking Hound Village, CVS, HealthMarkets Insurance

Dunwoody Hall

 

Atlanta-SandySprings-Alpharett

 

GA

 

 

 

1997

 

1986

 

 

13,800

 

 

 

90

 

 

100.0%

 

 

22.43

 

 

Publix

Dunwoody Village

 

Atlanta-SandySprings-Alpharett

 

GA

 

 

 

1997

 

1975

 

 

—

 

 

 

121

 

 

97.1%

 

 

23.70

 

 

The Fresh Market, Walgreens, Dunwoody Prep

Howell Mill Village

 

Atlanta-SandySprings-Alpharett

 

GA

 

 

 

2004

 

1984

 

 

—

 

 

 

96

 

 

100.0%

 

 

26.24

 

 

Publix

Paces Ferry Plaza

 

Atlanta-SandySprings-Alpharett

 

GA

 

 

 

1997

 

2018

 

 

—

 

 

 

82

 

 

100.0%

 

 

43.34

 

 

Whole Foods

Powers Ferry Square

 

Atlanta-SandySprings-Alpharett

 

GA

 

 

 

1997

 

2013

 

 

—

 

 

 

102

 

 

100.0%

 

 

37.61

 

 

HomeGoods, PETCO

Powers Ferry Village

 

Atlanta-SandySprings-Alpharett

 

GA

 

 

 

1997

 

1994

 

 

—

 

 

 

69

 

 

100.0%

 

 

10.97

 

 

Publix, Barrel Town

Russell Ridge

 

Atlanta-SandySprings-Alpharett

 

GA

 

 

 

1994

 

1995

 

 

—

 

 

 

112

 

 

98.8%

 

 

13.56

 

 

Kroger

Sandy Springs

 

Atlanta-SandySprings-Alpharett

 

GA

 

 

 

2012

 

2006

 

 

—

 

 

 

113

 

 

97.8%

 

 

28.78

 

 

Trader Joe's, Fox's, Peter Glenn Ski & Sports

33

 

Property Name

 

CBSA (1)

 

State

 

Owner-
ship
Interest  (2)

 

Year
Acquired

 

Year
Constructed
or Last Major
Renovation

 

Mortgages or
Encumbrances
(in 000's)

 

 

Gross
Leasable
Area
(GLA)
(in 000's)

 

 

Percent
Leased  (3)

 

Average
Base Rent
PSF (4)

 

 

MajorTenant(s) (5)

Sope Creek Crossing

 

Atlanta-SandySprings-Alpharett

 

GA

 

 

 

1998

 

2016

 

 

—

 

 

 

99

 

 

98.1%

 

 

18.07

 

 

Publix

The Shops at Hampton Oaks

 

Atlanta-SandySprings-Alpharett

 

GA

 

 

 

2017

 

2009

 

 

—

 

 

 

21

 

 

93.3%

 

 

14.17

 

 

(CVS)

Williamsburg at Dunwoody

 

Atlanta-SandySprings-Alpharett

 

GA

 

 

 

2017

 

1983

 

 

—

 

 

 

45

 

 

98.2%

 

 

27.24

 

 

-

Civic Center Plaza

 

Chicago-Naperville-Elgin

 

IL

 

40%

 

2005

 

1989

 

 

22,000

 

 

 

265

 

 

100.0%

 

 

11.84

 

 

Super H Mart, Home Depot, O'Reilly Automotive, King Spa

Clybourn Commons

 

Chicago-Naperville-Elgin

 

IL

 

 

 

2014

 

1999

 

 

—

 

 

 

32

 

 

100.0%

 

 

38.91

 

 

PETCO

Glen Oak Plaza

 

Chicago-Naperville-Elgin

 

IL

 

 

 

2010

 

1967

 

 

—

 

 

 

63

 

 

100.0%

 

 

28.31

 

 

Trader Joe's, Walgreens, Northshore University Healthsystems

Hinsdale Lake Commons

 

Chicago-Naperville-Elgin

 

IL

 

 

 

1998

 

2015

 

 

—

 

 

 

185

 

 

97.4%

 

 

17.75

 

 

Whole Foods, Goodwill, Charter Fitness, Petco

Mellody Farm

 

Chicago-Naperville-Elgin

 

IL

 

 

 

2017

 

2017

 

 

—

 

 

 

259

 

 

97.2%

 

 

32.35

 

 

Whole Foods, Nordstrom Rack, REI, HomeGoods, Barnes & Noble, West Elm

Naperville Plaza

 

Chicago-Naperville-Elgin

 

IL

 

20%

 

2023

 

1961

 

 

22,123

 

 

 

115

 

 

100.0%

 

 

29.26

 

 

Casey's Foods, Trader Joe's, Oswald's Pharmacy

Old Town Square

 

Chicago-Naperville-Elgin

 

IL

 

20%

 

2023

 

1998

 

 

10,000

 

 

 

87

 

 

95.9%

 

 

27.60

 

 

Jewel-Osco

Riverside Sq & River's Edge

 

Chicago-Naperville-Elgin

 

IL

 

40%

 

2005

 

1986

 

 

—

 

 

 

169

 

 

100.0%

 

 

19.62

 

 

Mariano's Fresh Market, Dollar Tree, Blink Fitness, Five Below

Roscoe Square

 

Chicago-Naperville-Elgin

 

IL

 

40%

 

2005

 

2012

 

 

24,500

 

 

 

144

 

 

100.0%

 

 

25.14

 

 

Mariano's Fresh Market, Walgreens, Altitude Trampoline Park

Westchester Commons

 

Chicago-Naperville-Elgin

 

IL

 

 

 

2001

 

2014

 

 

—

 

 

 

148

 

 

95.2%

 

 

20.17

 

 

Mariano's Fresh Market, Goodwill

Willow Festival (6)

 

Chicago-Naperville-Elgin

 

IL

 

 

 

2010

 

2007

 

 

—

 

 

 

404

 

 

100.0%

 

 

19.90

 

 

Whole Foods, Lowe's, CVS, HomeGoods, REI, Ulta, Restoration Hardware

Shops on Main

 

Chicago-Naperville-Elgin

 

IN

 

94%

 

2007

 

2017/2020

 

 

—

 

 

 

289

 

 

82.5%

 

 

18.27

 

 

Whole Foods, Dick's Sporting Goods, Ross Dress for Less, HomeGoods, DSW, Nordstrom Rack, Marshalls

Willow Lake Shopping Center

 

Indianapolis-Carmel-Anderson

 

IN

 

 

 

2005

 

1987

 

 

—

 

 

 

86

 

 

84.5%

 

 

18.53

 

 

Indiana Bureau of Motor Vehicles, Snipes USA, (Kroger)

Willow Lake West Shopping Center

 

Indianapolis-Carmel-Anderson

 

IN

 

 

 

2005

 

2001

 

 

—

 

 

 

53

 

 

100.0%

 

 

29.03

 

 

Trader Joe's

Fellsway Plaza

 

Boston-Cambridge-Newton

 

MA

 

75%

 

2013

 

2016

 

 

33,727

 

 

 

161

 

 

98.0%

 

 

27.97

 

 

Stop & Shop, Planet Fitness, BioLife Plasma Services

Shaw's at Plymouth

 

Boston-Cambridge-Newton

 

MA

 

 

 

2017

 

1993

 

 

—

 

 

 

60

 

 

100.0%

 

 

19.34

 

 

Shaw's

Shops at Saugus

 

Boston-Cambridge-Newton

 

MA

 

 

 

2006

 

2006

 

 

—

 

 

 

94

 

 

100.0%

 

 

30.37

 

 

Trader Joe's, La-Z-Boy, PetSmart

Star's at Cambridge

 

Boston-Cambridge-Newton

 

MA

 

 

 

2017

 

1997

 

 

—

 

 

 

66

 

 

100.0%

 

 

41.18

 

 

Star Market

Star's at West Roxbury

 

Boston-Cambridge-Newton

 

MA

 

 

 

2017

 

2006

 

 

—

 

 

 

76

 

 

100.0%

 

 

28.00

 

 

Shaw's

The Abbot

 

Boston-Cambridge-Newton

 

MA

 

 

 

2017

 

1912/2024

 

 

—

 

 

 

64

 

 

76.7%

 

 

102.01

 

 

Center for Effective Alturism

Twin City Plaza

 

Boston-Cambridge-Newton

 

MA

 

 

 

2006

 

in process

 

 

—

 

 

 

285

 

 

100.0%

 

 

25.80

 

 

Shaw's, Marshall's, Extra Space Storage, Walgreens, K&G Fashion, Dollar Tree, Everfitness, Formlabs

The Longmeadow Shops

 

Springfield, MA

 

MA

 

 

 

2023

 

1962

 

 

13,000

 

 

 

99

 

 

92.0%

 

 

33.92

 

 

CVS

Festival at Woodholme

 

Baltimore-Columbia-Towson

 

MD

 

40%

 

2005

 

1986

 

 

18,510

 

 

 

81

 

 

96.5%

 

 

41.59

 

 

Trader Joe's

Parkville Shopping Center

 

Baltimore-Columbia-Towson

 

MD

 

40%

 

2005

 

2013

 

 

23,017

 

 

 

165

 

 

96.4%

 

 

18.16

 

 

Giant, Parkville Lanes, Dollar Tree, Petco, The Cellar Parkville

Southside Marketplace

 

Baltimore-Columbia-Towson

 

MD

 

40%

 

2005

 

2011

 

 

24,800

 

 

 

125

 

 

97.8%

 

 

25.80

 

 

Giant

Village at Lee Airpark (6)

 

Baltimore-Columbia-Towson

 

MD

 

 

 

2005

 

2014

 

 

—

 

 

 

118

 

 

100.0%

 

 

32.98

 

 

Giant, (Sunrise)

Burnt Mills

 

Washington-Arlington-Alexandri

 

MD

 

20%

 

2013

 

2004

 

 

—

 

 

 

31

 

 

94.6%

 

 

41.67

 

 

Trader Joe's

Cloppers Mill Village

 

Washington-Arlington-Alexandri

 

MD

 

40%

 

2005

 

1995

 

 

—

 

 

 

137

 

 

95.6%

 

 

19.99

 

 

Shoppers Food Warehouse, Dollar Tree

Firstfield Shopping Center

 

Washington-Arlington-Alexandri

 

MD

 

 

 

2005

 

2014

 

 

—

 

 

 

22

 

 

100.0%

 

 

46.75

 

 

-

Takoma Park

 

Washington-Arlington-Alexandri

 

MD

 

40%

 

2005

 

1960

 

 

—

 

 

 

107

 

 

100.0%

 

 

14.78

 

 

Planet Fitness, Hibachi Grill & Buffet

Watkins Park Plaza

 

Washington-Arlington-Alexandri

 

MD

 

40%

 

2005

 

1985

 

 

—

 

 

 

111

 

 

98.6%

 

 

30.76

 

 

LA Fitness, CVS

Westbard Square

 

Washington-Arlington-Alexandri

 

MD

 

 

 

2017

 

2001/2024

 

 

—

 

 

 

173

 

 

98.4%

 

 

40.47

 

 

Giant, Bowlmor AMF

Woodmoor Shopping Center

 

Washington-Arlington-Alexandri

 

MD

 

40%

 

2005

 

1954

 

 

18,410

 

 

 

68

 

 

98.6%

 

 

39.71

 

 

CVS

Apple Valley Square

 

Minneapol-St. Paul-Bloomington

 

MN

 

 

 

2006

 

1998

 

 

—

 

 

 

179

 

 

78.7%

 

 

19.18

 

 

PETCO, Savers,(Burlington Coat Factory), (Aldi)

Cedar Commons

 

Minneapol-St. Paul-Bloomington

 

MN

 

 

 

2011

 

1999

 

 

—

 

 

 

66

 

 

100.0%

 

 

31.14

 

 

Whole Foods

Colonial Square

 

Minneapol-St. Paul-Bloomington

 

MN

 

40%

 

2005

 

2014

 

 

19,700

 

 

 

93

 

 

98.6%

 

 

28.99

 

 

Lund's

Rockford Road Plaza

 

Minneapol-St. Paul-Bloomington

 

MN

 

40%

 

2005

 

1991

 

 

—

 

 

 

204

 

 

100.0%

 

 

15.21

 

 

Kohl's, PetSmart, HomeGoods, TJ Maxx, ULTA

34

 

Property Name

 

CBSA (1)

 

State

 

Owner-
ship
Interest  (2)

 

Year
Acquired

 

Year
Constructed
or Last Major
Renovation

 

Mortgages or
Encumbrances
(in 000's)

 

 

Gross
Leasable
Area
(GLA)
(in 000's)

 

 

Percent
Leased  (3)

 

Average
Base Rent
PSF (4)

 

 

MajorTenant(s) (5)

Rockridge Center

 

Minneapol-St. Paul-Bloomington

 

MN

 

20%

 

2011

 

2006

 

 

10,000

 

 

 

125

 

 

98.9%

 

 

15.20

 

 

CUB Foods

Brentwood Plaza

 

St. Louis

 

MO

 

 

 

2007

 

2002

 

 

—

 

 

 

60

 

 

97.8%

 

 

11.79

 

 

Schnucks

Bridgeton

 

St. Louis

 

MO

 

 

 

2007

 

2005

 

 

—

 

 

 

71

 

 

100.0%

 

 

13.02

 

 

Schnucks, (Home Depot)

Dardenne Crossing

 

St. Louis

 

MO

 

 

 

2007

 

1996

 

 

—

 

 

 

67

 

 

97.9%

 

 

11.53

 

 

Schnucks

Kirkwood Commons

 

St. Louis

 

MO

 

 

 

2007

 

2000

 

 

—

 

 

 

210

 

 

100.0%

 

 

10.44

 

 

Walmart, TJ Maxx, HomeGoods, Famous Footwear, (Target), (Lowe's)

Blakeney Town Center

 

Charlotte-Concord-Gastonia

 

NC

 

 

 

2021

 

2006

 

 

—

 

 

 

384

 

 

99.4%

 

 

28.12

 

 

Harris Teeter, Marshalls, Best Buy, Petsmart, Off Broadway Shoes, Old Navy, (Target)

Carmel Commons

 

Charlotte-Concord-Gastonia

 

NC

 

 

 

1997

 

2012

 

 

—

 

 

 

146

 

 

89.2%

 

 

26.36

 

 

Chuck E. Cheese, The Fresh Market, Edwin Watts Golf

Cochran Commons

 

Charlotte-Concord-Gastonia

 

NC

 

20%

 

2007

 

2003

 

 

—

 

 

 

66

 

 

98.2%

 

 

18.53

 

 

Harris Teeter, (Walgreens)

Willow Oaks

 

Charlotte-Concord-Gastonia

 

NC

 

 

 

2014

 

2014

 

 

—

 

 

 

65

 

 

100.0%

 

 

18.63

 

 

Publix

Shops at Erwin Mill

 

Durham-Chapel Hill

 

NC

 

55%

 

2012

 

2012

 

 

12,000

 

 

 

91

 

 

100.0%

 

 

21.61

 

 

Harris Teeter

Southpoint Crossing

 

Durham-Chapel Hill

 

NC

 

 

 

1998

 

1998

 

 

—

 

 

 

103

 

 

93.4%

 

 

18.10

 

 

Harris Teeter

Village Plaza

 

Durham-Chapel Hill

 

NC

 

20%

 

2012

 

2020

 

 

11,227

 

 

 

73

 

 

88.8%

 

 

27.72

 

 

Whole Foods

Woodcroft Shopping Center

 

Durham-Chapel Hill

 

NC

 

 

 

1996

 

1984

 

 

—

 

 

 

90

 

 

98.4%

 

 

15.67

 

 

Food Lion, ACE Hardware

Glenwood Village

 

Raleigh-Cary

 

NC

 

 

 

1997

 

1983

 

 

—

 

 

 

43

 

 

100.0%

 

 

20.87

 

 

Harris Teeter

Holly Park

 

Raleigh-Cary

 

NC

 

 

 

2013

 

1969

 

 

—

 

 

 

158

 

 

99.0%

 

 

21.98

 

 

DSW Warehouse, Trader Joe's, Ross Dress For Less, Staples, US Fitness Products, Jerry's Artarama, Pet Supplies Plus, Ulta

Lake Pine Plaza

 

Raleigh-Cary

 

NC

 

 

 

1998

 

1997

 

 

—

 

 

 

88

 

 

100.0%

 

 

15.64

 

 

Harris Teeter

Market at Colonnade Center

 

Raleigh-Cary

 

NC

 

 

 

2009

 

2009

 

 

—

 

 

 

58

 

 

100.0%

 

 

29.30

 

 

Whole Foods

Midtown East

 

Raleigh-Cary

 

NC

 

50%

 

2017

 

2017

 

 

36,000

 

 

 

159

 

 

100.0%

 

 

26.91

 

 

Wegmans

Ridgewood Shopping Center

 

Raleigh-Cary

 

NC

 

20%

 

2018

 

1951

 

 

8,480

 

 

 

95

 

 

98.3%

 

 

32.60

 

 

Whole Foods, Walgreens

Shoppes of Kildaire

 

Raleigh-Cary

 

NC

 

40%

 

2005

 

1986

 

 

20,000

 

 

 

145

 

 

100.0%

 

 

22.27

 

 

Trader Joe's, Aldi, Staples, Barnes & Noble

Sutton Square

 

Raleigh-Cary

 

NC

 

20%

 

2006

 

1985

 

 

—

 

 

 

101

 

 

87.2%

 

 

24.88

 

 

The Fresh Market

Village District

 

Raleigh-Cary

 

NC

 

30%

 

2004

 

2018

 

 

75,000

 

 

 

606

 

 

99.4%

 

 

27.53

 

 

Harris Teeter, The Fresh Market, The Oberlin, Wake Public Library, Walgreens, Talbots, Great Outdoor Provision Co., York Properties,The Cheshire Cat Gallery, Crunch Fitness Select Club, Bailey's Fine Jewelry, Sephora, Barnes & Noble, Goodnight's Comedy Club, Ballard Designs

Bloomfield Crossing

 

New York-Newark-Jersey City

 

NJ

 

 

 

2023

 

0

 

 

—

 

 

 

59

 

 

100.0%

 

 

16.51

 

 

Superfresh

Boonton ACME Shopping Center

 

New York-Newark-Jersey City

 

NJ

 

 

 

2023

 

1999

 

 

10,123

 

 

 

63

 

 

100.0%

 

 

25.71

 

 

Acme Markets

Cedar Hill Shopping Center

 

New York-Newark-Jersey City

 

NJ

 

 

 

2023

 

1971

 

 

6,585

 

 

 

43

 

 

96.5%

 

 

33.30

 

 

Walgreens

Chestnut Ridge Shopping Center

 

New York-Newark-Jersey City

 

NJ

 

 

 

2023

 

1965

 

 

—

 

 

 

76

 

 

97.4%

 

 

31.80

 

 

Fresh Market, Drop Fitness

Chimney Rock (6)

 

New York-Newark-Jersey City

 

NJ

 

 

 

2016

 

2016

 

 

—

 

 

 

218

 

 

100.0%

 

 

37.64

 

 

Whole Foods, Nordstrom Rack, Saks Off 5th, The Container Store, Ulta, LL Bean

District at Metuchen

 

New York-Newark-Jersey City

 

NJ

 

20%

 

2018

 

2017

 

 

16,000

 

 

 

67

 

 

100.0%

 

 

33.39

 

 

Whole Foods

Emerson Plaza

 

New York-Newark-Jersey City

 

NJ

 

 

 

2023

 

1981

 

 

—

 

 

 

90

 

 

100.0%

 

 

18.81

 

 

Shoprite, K-9 Resorts Luxury Pet Hotel

Ferry Street Plaza

 

New York-Newark-Jersey City

 

NJ

 

 

 

2023

 

1995

 

 

8,131

 

 

 

108

 

 

100.0%

 

 

23.82

 

 

Seabra Foods, Flaming Grill

Franklin Pointe (fka Rite Aid Plaza-Waldwick Plaza)

 

New York-Newark-Jersey City

 

NJ

 

 

 

2023

 

1953

 

 

—

 

 

 

20

 

 

0.0%

 

 

-

 

 

-

Glenwood Green

 

New York-Newark-Jersey City

 

NJ

 

70%

 

2023

 

2024

 

 

—

 

 

 

352

 

 

97.1%

 

 

13.95

 

 

ShopRite, Target, Rendina

H Mart Plaza

 

New York-Newark-Jersey City

 

NJ

 

 

 

2023

 

1967

 

 

—

 

 

 

7

 

 

100.0%

 

 

48.64

 

 

-

Meadtown Shopping Center

 

New York-Newark-Jersey City

 

NJ

 

 

 

2023

 

1961

 

 

8,765

 

 

 

77

 

 

89.6%

 

 

27.51

 

 

Marshalls, Petco, Walgreens

Midland Park Shopping Center

 

New York-Newark-Jersey City

 

NJ

 

 

 

2023

 

1966

 

 

16,588

 

 

 

129

 

 

88.0%

 

 

25.69

 

 

Kings Food Markets, Crunch Fitness

Plaza Square

 

New York-Newark-Jersey City

 

NJ

 

40%

 

2005

 

1990

 

 

—

 

 

 

102

 

 

91.3%

 

 

21.04

 

 

Grocer, Retro Fitness

Pompton Lakes Towne Square

 

New York-Newark-Jersey City

 

NJ

 

 

 

2023

 

2000

 

 

—

 

 

 

66

 

 

94.5%

 

 

27.63

 

 

Planet Fitness

South Pass Village

 

New York-Newark-Jersey City

 

NJ

 

 

 

2023

 

1965

 

 

19,258

 

 

 

109

 

 

100.0%

 

 

32.74

 

 

Acme Markets

35

 

Property Name

 

CBSA (1)

 

State

 

Owner-
ship
Interest  (2)

 

Year
Acquired

 

Year
Constructed
or Last Major
Renovation

 

Mortgages or
Encumbrances
(in 000's)

 

 

Gross
Leasable
Area
(GLA)
(in 000's)

 

 

Percent
Leased  (3)

 

Average
Base Rent
PSF (4)

 

 

MajorTenant(s) (5)

Valley Ridge Shopping Center

 

New York-Newark-Jersey City

 

NJ

 

 

 

2023

 

1962

 

 

15,702

 

 

 

103

 

 

100.0%

 

 

30.60

 

 

Whole Foods

Waldwick Plaza

 

New York-Newark-Jersey City

 

NJ

 

 

 

2023

 

1960

 

 

—

 

 

 

27

 

 

100.0%

 

 

28.51

 

 

-

Washington Commons

 

New York-Newark-Jersey City

 

NJ

 

100%

 

2023

 

1992

 

 

8,210

 

 

 

74

 

 

94.2%

 

 

24.29

 

 

Stop & Shop

Haddon Commons

 

Philadelphia-Camden-Wilmington

 

NJ

 

40%

 

2005

 

1985

 

 

—

 

 

 

54

 

 

100.0%

 

 

16.25

 

 

Acme Markets

111 Kraft Avenue

 

New York-Newark-Jersey City

 

NY

 

 

 

2023

 

1902

 

 

—

 

 

 

9

 

 

100.0%

 

 

50.80

 

 

-

1175 Third Avenue

 

New York-Newark-Jersey City

 

NY

 

 

 

2017

 

1995

 

 

—

 

 

 

23

 

 

100.0%

 

 

112.26

 

 

Whole Foods, Five Below

1225-1239 Second Ave

 

New York-Newark-Jersey City

 

NY

 

 

 

2017

 

1987

 

 

—

 

 

 

19

 

 

100.0%

 

 

85.03

 

 

Dumbo Market

260-270 Sawmill Road

 

New York-Newark-Jersey City

 

NY

 

 

 

2023

 

1953

 

 

—

 

 

 

3

 

 

100.0%

 

 

1.69

 

 

-

27 Purchase Street

 

New York-Newark-Jersey City

 

NY

 

 

 

2023

 

0

 

 

—

 

 

 

10

 

 

82.6%

 

 

44.88

 

 

-

410 South Broadway

 

New York-Newark-Jersey City

 

NY

 

 

 

2023

 

1936

 

 

—

 

 

 

7

 

 

100.0%

 

 

1.21

 

 

-

48 Purchase Street

 

New York-Newark-Jersey City

 

NY

 

 

 

2023

 

0

 

 

—

 

 

 

6

 

 

100.0%

 

 

84.91

 

 

-

90 - 30 Metropolitan Avenue

 

New York-Newark-Jersey City

 

NY

 

 

 

2017

 

2007

 

 

—

 

 

 

60

 

 

100.0%

 

 

36.15

 

 

Michaels, Staples, Trader Joe's

Arcadian Shopping Center

 

New York-Newark-Jersey City

 

NY

 

 

 

2023

 

1978

 

 

—

 

 

 

166

 

 

97.9%

 

 

24.61

 

 

Stop & Shop, Westchester Community College, The 19th Hole

Armonk Square

 

New York-Newark-Jersey City

 

NY

 

20%

 

2025

 

2013

 

 

11,403

 

 

 

48

 

 

97.9%

 

 

45.76

 

 

DeCicco & Sons

Biltmore Shopping Center

 

New York-Newark-Jersey City

 

NY

 

 

 

2023

 

1967

 

 

—

 

 

 

17

 

 

100.0%

 

 

42.78

 

 

-

Broadway Plaza (6)

 

New York-Newark-Jersey City

 

NY

 

 

 

2017

 

2014

 

 

—

 

 

 

147

 

 

93.2%

 

 

42.93

 

 

Aldi, Best Buy, Bob's Discount Furniture, TJ Maxx, Blink Fitness

Carmel ShopRite Plaza

 

New York-Newark-Jersey City

 

NY

 

 

 

2023

 

1981

 

 

—

 

 

 

145

 

 

89.4%

 

 

15.42

 

 

Shoprite, Box Office Cinema, Gold's Gym

Chilmark Shopping Center

 

New York-Newark-Jersey City

 

NY

 

 

 

2023

 

1963

 

 

—

 

 

 

47

 

 

95.7%

 

 

35.51

 

 

CVS

Clocktower Plaza Shopping Ctr (6)

 

New York-Newark-Jersey City

 

NY

 

 

 

2017

 

1995

 

 

—

 

 

 

79

 

 

96.9%

 

 

52.63

 

 

Stop & Shop

DeCicco's Plaza

 

New York-Newark-Jersey City

 

NY

 

 

 

2023

 

1978

 

 

—

 

 

 

70

 

 

100.0%

 

 

40.70

 

 

Decicco & Sons

District Shops of Pelham Manor

 

New York-Newark-Jersey City

 

NY

 

 

 

2023

 

1960

 

 

—

 

 

 

25

 

 

74.5%

 

 

37.15

 

 

Manor Market

East Meadow Plaza

 

New York-Newark-Jersey City

 

NY

 

 

 

2023

 

in-process

 

 

—

 

 

 

138

 

 

89.5%

 

 

30.09

 

 

Lidl, Dollar Deal

Eastchester Plaza

 

New York-Newark-Jersey City

 

NY

 

 

 

2023

 

1963

 

 

—

 

 

 

24

 

 

100.0%

 

 

39.61

 

 

CVS

Eastport

 

New York-Newark-Jersey City

 

NY

 

 

 

2021

 

1980

 

 

—

 

 

 

48

 

 

88.0%

 

 

17.64

 

 

King Kullen

Gateway Plaza

 

New York-Newark-Jersey City

 

NY

 

50%

 

2023

 

0

 

 

14,000

 

 

 

198

 

 

100.0%

 

 

9.80

 

 

Walmart, Bob's Discount Furniture

Harrison Shopping Square

 

New York-Newark-Jersey City

 

NY

 

 

 

2023

 

1958

 

 

—

 

 

 

26

 

 

95.2%

 

 

37.10

 

 

The Goddard School

Heritage 202 Center

 

New York-Newark-Jersey City

 

NY

 

 

 

2023

 

1989

 

 

—

 

 

 

19

 

 

100.0%

 

 

37.61

 

 

-

Hewlett Crossing I & II

 

New York-Newark-Jersey City

 

NY

 

 

 

2018

 

1954

 

 

—

 

 

 

52

 

 

83.1%

 

 

43.25

 

 

-

Lake Grove Commons

 

New York-Newark-Jersey City

 

NY

 

40%

 

2012

 

2008

 

 

48,558

 

 

 

141

 

 

100.0%

 

 

38.56

 

 

Whole Foods, LA Fitness

Lakeview Shopping Center

 

New York-Newark-Jersey City

 

NY

 

 

 

2023

 

1981

 

 

10,407

 

 

 

165

 

 

90.3%

 

 

18.82

 

 

Acme, Planet Fitness, Montclare Children's School

McLean Plaza

 

New York-Newark-Jersey City

 

NY

 

100%

 

2023

 

1982

 

 

5,000

 

 

 

58

 

 

98.1%

 

 

22.57

 

 

Acme Markets

Midway Shopping Center

 

New York-Newark-Jersey City

 

NY

 

12%

 

2023

 

1958

 

 

20,144

 

 

 

244

 

 

86.0%

 

 

28.94

 

 

Shoprite, Amazing Savings, CVS, Planet Fitness, Denny's Kids, Ulta

New City PCSB Bank Pad

 

New York-Newark-Jersey City

 

NY

 

 

 

2023

 

1973

 

 

—

 

 

 

3

 

 

100.0%

 

 

105.14

 

 

-

Orangetown Shopping Center

 

New York-Newark-Jersey City

 

NY

 

100%

 

2023

 

1966

 

 

—

 

 

 

76

 

 

96.5%

 

 

23.15

 

 

CVS

Purchase Street Shops

 

New York-Newark-Jersey City

 

NY

 

 

 

2023

 

0

 

 

—

 

 

 

6

 

 

100.0%

 

 

38.80

 

 

-

Putnam Plaza

 

New York-Newark-Jersey City

 

NY

 

 

 

2023

 

1971

 

 

16,531

 

 

 

189

 

 

87.7%

 

 

16.94

 

 

Tops, Dollar World, Harbor Freight Tools

Riverhead Plaza

 

New York-Newark-Jersey City

 

NY

 

50%

 

2023

 

0

 

 

—

 

 

 

13

 

 

100.0%

 

 

39.46

 

 

-

Rivertowns Square

 

New York-Newark-Jersey City

 

NY

 

 

 

2018

 

2016

 

 

—

 

 

 

116

 

 

100.0%

 

 

29.63

 

 

Ulta, The Learning Experience, Mom's Organic Market, Look Cinemas

Somers Commons

 

New York-Newark-Jersey City

 

NY

 

 

 

2023

 

2003

 

 

—

 

 

 

135

 

 

91.9%

 

 

21.59

 

 

Level Fitness, Tractor Supply, Goodwill

Staples Plaza-Yorktown Heights

 

New York-Newark-Jersey City

 

NY

 

 

 

2023

 

1970

 

 

—

 

 

 

125

 

 

100.0%

 

 

21.30

 

 

Level Fitness, Staples, Party City, Extra Space Storage

Tanglewood Shopping Center

 

New York-Newark-Jersey City

 

NY

 

 

 

2023

 

1953

 

 

2,163

 

 

 

28

 

 

93.1%

 

 

45.86

 

 

-

The Gallery at Westbury Plaza

 

New York-Newark-Jersey City

 

NY

 

 

 

2017

 

2013

 

 

—

 

 

 

312

 

 

98.4%

 

 

54.33

 

 

Trader Joe's, Nordstrom Rack, Saks Fifth Avenue, Bloomingdale's, The Container Store, HomeGoods, Old Navy, Gap Outlet, Bassett Home Furnishings, Famous Footwear

36

 

Property Name

 

CBSA (1)

 

State

 

Owner-
ship
Interest  (2)

 

Year
Acquired

 

Year
Constructed
or Last Major
Renovation

 

Mortgages or
Encumbrances
(in 000's)

 

 

Gross
Leasable
Area
(GLA)
(in 000's)

 

 

Percent
Leased  (3)

 

Average
Base Rent
PSF (4)

 

 

MajorTenant(s) (5)

The Meadows

 

New York-Newark-Jersey City

 

NY

 

 

 

2021

 

1980

 

 

—

 

 

 

141

 

 

99.3%

 

 

17.66

 

 

Marshalls, Stew Leonard's, Net Cost Market, Catch Air

The Point at Garden City Park (6)

 

New York-Newark-Jersey City

 

NY

 

 

 

2016

 

2018

 

 

—

 

 

 

105

 

 

100.0%

 

 

33.33

 

 

King Kullen, Ace Hardware

The Shops at SunVet (6) (7)

 

New York-Newark-Jersey City

 

NY

 

100%

 

2023

 

2023

 

 

—

 

 

 

170

 

 

73.5%

 

 

46.40

 

 

Whole Foods, Nordstrom Rack

Towne Centre at Somers

 

New York-Newark-Jersey City

 

NY

 

 

 

2023

 

1988

 

 

—

 

 

 

84

 

 

100.0%

 

 

32.82

 

 

CVS

Valley Stream

 

New York-Newark-Jersey City

 

NY

 

 

 

2021

 

1950

 

 

—

 

 

 

99

 

 

97.8%

 

 

32.15

 

 

King Kullen

Village Commons

 

New York-Newark-Jersey City

 

NY

 

 

 

2023

 

1980

 

 

—

 

 

 

28

 

 

86.9%

 

 

42.13

 

 

-

Wading River

 

New York-Newark-Jersey City

 

NY

 

 

 

2021

 

2002

 

 

—

 

 

 

99

 

 

94.7%

 

 

24.34

 

 

King Kullen, CVS, Ace Hardware

Westbury Plaza

 

New York-Newark-Jersey City

 

NY

 

 

 

2017

 

2004

 

 

88,000

 

 

 

390

 

 

100.0%

 

 

28.36

 

 

WalMart, Costco, Marshalls, Total Wine and More, Olive Garden

Cherry Grove

 

Cincinnati

 

OH

 

 

 

1998

 

2012

 

 

—

 

 

 

203

 

 

100.0%

 

 

13.78

 

 

Kroger, Shoe Carnival, TJ Maxx, Tuesday Morning

Hyde Park

 

Cincinnati

 

OH

 

 

 

1997

 

1995

 

 

—

 

 

 

398

 

 

98.6%

 

 

17.62

 

 

Kroger, Kohl's, Walgreens, Ace Hardware, Staples, Marshalls, Five Below

Red Bank Village

 

Cincinnati

 

OH

 

 

 

2006

 

2018

 

 

—

 

 

 

183

 

 

100.0%

 

 

8.40

 

 

WalMart

Regency Commons

 

Cincinnati

 

OH

 

 

 

2004

 

2004

 

 

—

 

 

 

34

 

 

84.0%

 

 

28.02

 

 

-

West Chester Plaza

 

Cincinnati

 

OH

 

 

 

1998

 

in process

 

 

—

 

 

 

67

 

 

100.0%

 

 

7.18

 

 

Kroger

East Pointe

 

Columbus

 

OH

 

 

 

1998

 

2014

 

 

—

 

 

 

115

 

 

100.0%

 

 

11.84

 

 

Kroger

Kroger New Albany Center

 

Columbus

 

OH

 

 

 

1999

 

1999

 

 

—

 

 

 

96

 

 

100.0%

 

 

14.55

 

 

Kroger

Northgate Plaza (Maxtown Road)

 

Columbus

 

OH

 

 

 

1998

 

2017

 

 

—

 

 

 

117

 

 

97.6%

 

 

12.34

 

 

Kroger, (Home Depot)

Corvallis Market Center

 

Corvallis

 

OR

 

 

 

2006

 

2006

 

 

—

 

 

 

85

 

 

100.0%

 

 

23.60

 

 

Michaels, TJ Maxx, Trader Joe's

Northgate Marketplace

 

Medford

 

OR

 

 

 

2011

 

2011

 

 

—

 

 

 

81

 

 

96.3%

 

 

25.54

 

 

Trader Joe's, REI, PETCO

Northgate Marketplace Ph II

 

Medford

 

OR

 

 

 

2015

 

2015

 

 

—

 

 

 

177

 

 

96.4%

 

 

18.24

 

 

Dick's Sporting Goods, Homegoods, Marshalls

Greenway Town Center

 

Portland-Vancouver-Hillsboro

 

OR

 

40%

 

2005

 

2014

 

 

—

 

 

 

93

 

 

93.8%

 

 

17.04

 

 

Dollar Tree, Rite Aid, Whole Foods

Murrayhill Marketplace

 

Portland-Vancouver-Hillsboro

 

OR

 

 

 

1999

 

2016

 

 

—

 

 

 

157

 

 

92.7%

 

 

22.20

 

 

Safeway, Planet Fitness

Sherwood Crossroads

 

Portland-Vancouver-Hillsboro

 

OR

 

 

 

1999

 

1999

 

 

—

 

 

 

88

 

 

91.9%

 

 

12.71

 

 

Safeway

Tanasbourne Market (6)

 

Portland-Vancouver-Hillsboro

 

OR

 

 

 

2006

 

2006

 

 

—

 

 

 

71

 

 

100.0%

 

 

33.18

 

 

Whole Foods

Walker Center

 

Portland-Vancouver-Hillsboro

 

OR

 

 

 

1999

 

1987

 

 

—

 

 

 

89

 

 

95.7%

 

 

28.62

 

 

REI

Lower Nazareth Commons

 

Allentown-Bethlehem-Easton

 

PA

 

 

 

2007

 

2012

 

 

—

 

 

 

110

 

 

100.0%

 

 

28.38

 

 

Burlington Coat Factory, PETCO, (Wegmans), (Target)

Stefko Boulevard Shopping Center (6)

 

Allentown-Bethlehem-Easton

 

PA

 

 

 

2005

 

1976

 

 

—

 

 

 

134

 

 

97.9%

 

 

12.53

 

 

Valley Farm Market, Dollar Tree, Muscle Inc. Gym

Hershey (6)

 

Harrisburg-Carlisle

 

PA

 

 

 

2000

 

2000

 

 

—

 

 

 

6

 

 

100.0%

 

 

33.75

 

 

-

Baederwood Shopping Center

 

Philadelphia-Camden-Wilmington

 

PA

 

80%

 

2023

 

1999

 

 

24,365

 

 

 

117

 

 

100.0%

 

 

29.62

 

 

Whole Foods, Planet Fitness

City Avenue Shopping Center

 

Philadelphia-Camden-Wilmington

 

PA

 

40%

 

2005

 

1960

 

 

—

 

 

 

157

 

 

95.6%

 

 

22.19

 

 

Ross Dress for Less, TJ Maxx, Dollar Tree

Gateway Shopping Center

 

Philadelphia-Camden-Wilmington

 

PA

 

 

 

2004

 

2016

 

 

—

 

 

 

224

 

 

94.0%

 

 

38.16

 

 

Trader Joe's, Staples, TJ Maxx

Mercer Square Shopping Center

 

Philadelphia-Camden-Wilmington

 

PA

 

40%

 

2005

 

1988

 

 

—

 

 

 

91

 

 

100.0%

 

 

24.12

 

 

Weis Markets, McCaffrey's Food Markets

Newtown Square Shopping Center

 

Philadelphia-Camden-Wilmington

 

PA

 

40%

 

2005

 

2020

 

 

19,774

 

 

 

142

 

 

95.3%

 

 

21.31

 

 

Acme Markets, Michael's

East Greenwich Square

 

Boston-Cambridge-Newton

 

RI

 

70%

 

2024

 

1990

 

 

26,000

 

 

 

159

 

 

100.0%

 

 

21.68

 

 

Dave's Fresh Marketplace, Les Isle Rose

Indigo Square

 

Charleston-North Charleston

 

SC

 

 

 

2017

 

2017

 

 

—

 

 

 

51

 

 

100.0%

 

 

32.58

 

 

Greenwise (Vac 8/29/20)

Merchants Village

 

Charleston-North Charleston

 

SC

 

40%

 

1997

 

1997

 

 

9,000

 

 

 

80

 

 

100.0%

 

 

19.70

 

 

Publix

Brentwood Place

 

Nashvil-Davdsn-Murfree-Frankln

 

TN

 

 

 

2025

 

2007/2016

 

 

43,500

 

 

 

319

 

 

98.6%

 

 

20.90

 

 

TJ Maxx/Homegoods, Golf Galaxy, Stock & Tade Design Co.

Harpeth Village Fieldstone

 

Nashvil-Davdsn-Murfree-Frankln

 

TN

 

 

 

1997

 

1998

 

 

—

 

 

 

70

 

 

100.0%

 

 

18.34

 

 

Publix

Northlake Village

 

Nashvil-Davdsn-Murfree-Frankln

 

TN

 

 

 

2000

 

2013

 

 

—

 

 

 

139

 

 

100.0%

 

 

16.45

 

 

Kroger

Peartree Village

 

Nashvil-Davdsn-Murfree-Frankln

 

TN

 

 

 

1997

 

1997

 

 

—

 

 

 

110

 

 

96.6%

 

 

19.91

 

 

Kroger, PETCO

Hancock

 

Austin-Round Rock-Georgetown

 

TX

 

 

 

1999

 

1998

 

 

—

 

 

 

246

 

 

97.8%

 

 

20.63

 

 

24 Hour Fitness, H.E.B, PETCO, Twin Liquors

Market at Round Rock

 

Austin-Round Rock-Georgetown

 

TX

 

 

 

1999

 

1987

 

 

—

 

 

 

123

 

 

96.9%

 

 

21.35

 

 

Sprout's Markets, Office Depot, Tuesday Morning, Party Chaos

North Hills

 

Austin-Round Rock-Georgetown

 

TX

 

 

 

1999

 

1995

 

 

—

 

 

 

164

 

 

98.8%

 

 

24.00

 

 

H.E.B.

37

 

Property Name

 

CBSA (1)

 

State

 

Owner-
ship
Interest  (2)

 

Year
Acquired

 

Year
Constructed
or Last Major
Renovation

 

Mortgages or
Encumbrances
(in 000's)

 

 

Gross
Leasable
Area
(GLA)
(in 000's)

 

 

Percent
Leased  (3)

 

Average
Base Rent
PSF (4)

 

 

MajorTenant(s) (5)

Shops at Mira Vista

 

Austin-Round Rock-Georgetown

 

TX

 

 

 

2014

 

2002

 

 

137

 

 

 

68

 

 

100.0%

 

 

27.76

 

 

Trader Joe's, Champions Westlake Gymnastics & Cheer

Tech Ridge Center

 

Austin-Round Rock-Georgetown

 

TX

 

 

 

2011

 

2020

 

 

—

 

 

 

240

 

 

96.6%

 

 

22.33

 

 

H.E.B., Pinstack, Baylor Scott & White

University Commons - Austin

 

Austin-Round Rock-Georgetown

 

TX

 

20%

 

2024

 

2024

 

 

34,500

 

 

 

218

 

 

98.4%

 

 

21.90

 

 

HEB

Bethany Park Place

 

Dallas-Fort Worth-Arlington

 

TX

 

 

 

1998

 

1998

 

 

10,200

 

 

 

99

 

 

100.0%

 

 

12.43

 

 

Kroger

CityLine Market

 

Dallas-Fort Worth-Arlington

 

TX

 

 

 

2014

 

2014

 

 

—

 

 

 

81

 

 

100.0%

 

 

31.18

 

 

Whole Foods

CityLine Market Phase II

 

Dallas-Fort Worth-Arlington

 

TX

 

 

 

2015

 

2015

 

 

—

 

 

 

22

 

 

100.0%

 

 

29.41

 

 

CVS

Hillcrest Village

 

Dallas-Fort Worth-Arlington

 

TX

 

 

 

1999

 

1991

 

 

—

 

 

 

15

 

 

100.0%

 

 

55.58

 

 

-

Keller Town Center

 

Dallas-Fort Worth-Arlington

 

TX

 

 

 

1999

 

2014

 

 

—

 

 

 

120

 

 

90.4%

 

 

17.54

 

 

Tom Thumb

Lebanon/Legacy Center

 

Dallas-Fort Worth-Arlington

 

TX

 

 

 

2000

 

2002

 

 

—

 

 

 

57

 

 

100.0%

 

 

32.44

 

 

(WalMart)

Market at Preston Forest

 

Dallas-Fort Worth-Arlington

 

TX

 

 

 

1999

 

1990

 

 

—

 

 

 

96

 

 

100.0%

 

 

23.99

 

 

Tom Thumb

Mockingbird Commons

 

Dallas-Fort Worth-Arlington

 

TX

 

 

 

1999

 

1987

 

 

—

 

 

 

120

 

 

98.0%

 

 

22.67

 

 

Tom Thumb, Ogle School of Hair Design

Preston Oaks (6)

 

Dallas-Fort Worth-Arlington

 

TX

 

 

 

2013

 

2022

 

 

—

 

 

 

103

 

 

100.0%

 

 

42.32

 

 

Central Market, Talbots

Prestonbrook

 

Dallas-Fort Worth-Arlington

 

TX

 

 

 

1998

 

1998

 

 

—

 

 

 

92

 

 

98.5%

 

 

16.10

 

 

Kroger

Shiloh Springs

 

Dallas-Fort Worth-Arlington

 

TX

 

 

 

1998

 

1998

 

 

—

 

 

 

113

 

 

100.0%

 

 

15.97

 

 

Kroger

Alden Bridge

 

Houston-Woodlands-Sugar Land

 

TX

 

 

 

2002

 

1998

 

 

26,000

 

 

 

143

 

 

97.4%

 

 

21.94

 

 

Kroger, Walgreens

Baybrook East

 

Houston-Woodlands-Sugar Land

 

TX

 

 

 

2020

 

2025

 

 

—

 

 

 

166

 

 

95.8%

 

 

15.86

 

 

H.E.B

Cochran's Crossing

 

Houston-Woodlands-Sugar Land

 

TX

 

 

 

2002

 

1994

 

 

—

 

 

 

138

 

 

87.9%

 

 

20.70

 

 

Kroger

Indian Springs Center

 

Houston-Woodlands-Sugar Land

 

TX

 

 

 

2002

 

2003

 

 

—

 

 

 

140

 

 

100.0%

 

 

27.35

 

 

H.E.B.

Jordan Ranch

 

Houston-Woodlands-Sugar Land

 

TX

 

50%

 

2024

 

2025

 

 

—

 

 

 

162

 

 

96.6%

 

 

22.04

 

 

HEB

Market at Springwoods Village

 

Houston-Woodlands-Sugar Land

 

TX

 

 

 

2016

 

2018

 

 

—

 

 

 

167

 

 

98.0%

 

 

18.56

 

 

Kroger

Panther Creek

 

Houston-Woodlands-Sugar Land

 

TX

 

 

 

2002

 

1994

 

 

—

 

 

 

170

 

 

76.0%

 

 

29.18

 

 

CVS, The Woodlands Childrens Museum, Fitness Project, Sprouts

Sienna Grande Shops (7)

 

Houston-Woodlands-Sugar Land

 

TX

 

75%

 

2023

 

2023

 

 

—

 

 

 

30

 

 

65.3%

 

 

35.54

 

 

-

Southpark at Cinco Ranch

 

Houston-Woodlands-Sugar Land

 

TX

 

 

 

2012

 

2017

 

 

—

 

 

 

265

 

 

100.0%

 

 

15.04

 

 

Kroger, Academy Sports, PETCO, Spec's Liquor and Finer Foods

Sterling Ridge

 

Houston-Woodlands-Sugar Land

 

TX

 

 

 

2002

 

2000

 

 

—

 

 

 

129

 

 

78.6%

 

 

27.98

 

 

CVS, Crunch Fitness

Sweetwater Plaza

 

Houston-Woodlands-Sugar Land

 

TX

 

20%

 

2001

 

2000

 

 

20,000

 

 

 

135

 

 

100.0%

 

 

17.41

 

 

Kroger, Walgreens

The Village at Riverstone

 

Houston-Woodlands-Sugar Land

 

TX

 

 

 

2016

 

2016

 

 

—

 

 

 

165

 

 

95.8%

 

 

17.80

 

 

Kroger

Weslayan Plaza East

 

Houston-Woodlands-Sugar Land

 

TX

 

40%

 

2005

 

1969

 

 

—

 

 

 

173

 

 

100.0%

 

 

22.46

 

 

Berings, Ross Dress for Less, Michaels, The Next Level Fitness, Spec's Liquor, Trek Bicycle

Weslayan Plaza West

 

Houston-Woodlands-Sugar Land

 

TX

 

40%

 

2005

 

1969

 

 

—

 

 

 

186

 

 

97.1%

 

 

22.50

 

 

Randalls Food, Walgreens, PETCO, Homegoods, Barnes & Noble

Westwood Village

 

Houston-Woodlands-Sugar Land

 

TX

 

 

 

2006

 

2006

 

 

—

 

 

 

246

 

 

98.7%

 

 

20.16

 

 

Fitness Project, PetSmart, Office Max, Ross Dress For Less, TJ Maxx, Kelsey Seybold,(Target)

Woodway Collection

 

Houston-Woodlands-Sugar Land

 

TX

 

40%

 

2005

 

2012

 

 

25,696

 

 

 

97

 

 

94.2%

 

 

34.17

 

 

Whole Foods

Carytown Exchange

 

Richmond

 

VA

 

64%

 

2018

 

2022

 

 

—

 

 

 

116

 

 

97.6%

 

 

28.69

 

 

Publix, CVS

Village Shopping Center

 

Richmond

 

VA

 

40%

 

2005

 

1948

 

 

24,250

 

 

 

116

 

 

86.5%

 

 

27.41

 

 

Publix, CVS

Ashburn Farm Village Center

 

Washington-Arlington-Alexandri

 

VA

 

 

 

2005

 

1996

 

 

—

 

 

 

92

 

 

100.0%

 

 

18.72

 

 

Patel Brothers, The Shop Gym

Belmont Chase

 

Washington-Arlington-Alexandri

 

VA

 

 

 

2014

 

2014

 

 

—

 

 

 

91

 

 

100.0%

 

 

38.66

 

 

Cooper's Hawk Winery, Whole Foods

Festival at Manchester Lakes

 

Washington-Arlington-Alexandri

 

VA

 

40%

 

2005

 

2021

 

 

—

 

 

 

169

 

 

100.0%

 

 

33.02

 

 

Amazon Fresh, Homesense, Hyper Kidz

Fox Mill Shopping Center

 

Washington-Arlington-Alexandri

 

VA

 

40%

 

2005

 

2013

 

 

22,500

 

 

 

103

 

 

97.6%

 

 

28.49

 

 

Giant

Greenbriar Town Center

 

Washington-Arlington-Alexandri

 

VA

 

40%

 

2005

 

1972

 

 

76,200

 

 

 

344

 

 

99.5%

 

 

30.79

 

 

Big Blue Swim School, Bob's Discount Furniture, CVS, Giant, Marshalls, Planet Fitness, Ross Dress for Less, Total Wine and More

Kamp Washington Shopping Center

 

Washington-Arlington-Alexandri

 

VA

 

40%

 

2005

 

1960

 

 

—

 

 

 

71

 

 

100.0%

 

 

36.27

 

 

PGA Tour Superstore

Kings Park Shopping Center

 

Washington-Arlington-Alexandri

 

VA

 

40%

 

2005

 

2015

 

 

21,800

 

 

 

96

 

 

100.0%

 

 

35.89

 

 

Giant, CVS

Lorton Station Marketplace

 

Washington-Arlington-Alexandri

 

VA

 

20%

 

2006

 

2005

 

 

—

 

 

 

136

 

 

91.4%

 

 

27.11

 

 

Amazon Fresh, Planet Fitness, Five Below, LLC

Point 50

 

Washington-Arlington-Alexandri

 

VA

 

 

 

2007

 

2021

 

 

—

 

 

 

48

 

 

94.0%

 

 

33.81

 

 

Amazon Fresh

Saratoga Shopping Center

 

Washington-Arlington-Alexandri

 

VA

 

40%

 

2005

 

1977

 

 

22,800

 

 

 

113

 

 

92.9%

 

 

23.37

 

 

Giant

Shops at County Center

 

Washington-Arlington-Alexandri

 

VA

 

 

 

2005

 

2005

 

 

—

 

 

 

106

 

 

100.0%

 

 

21.80

 

 

Harris Teeter, Planet Fitness

38

 

Property Name

 

CBSA (1)

 

State

 

Owner-
ship
Interest  (2)

 

Year
Acquired

 

Year
Constructed
or Last Major
Renovation

 

Mortgages or
Encumbrances
(in 000's)

 

 

Gross
Leasable
Area
(GLA)
(in 000's)

 

 

Percent
Leased  (3)

 

Average
Base Rent
PSF (4)

 

 

MajorTenant(s) (5)

The Crossing Clarendon

 

Washington-Arlington-Alexandri

 

VA

 

 

 

2016

 

in process/2023

 

 

—

 

 

 

420

 

 

94.8%

 

 

41.03

 

 

Whole Foods, Crate & Barrel, The Container Store, Pottery Barn, Ethan Allen, The Cheesecake Factory, LifeTime, Corobus Sports, Three Notch'd Brewing Company

The Field at Commonwealth

 

Washington-Arlington-Alexandri

 

VA

 

 

 

2017

 

2018

 

 

—

 

 

 

167

 

 

100.0%

 

 

24.47

 

 

Wegmans

Village Center at Dulles

 

Washington-Arlington-Alexandri

 

VA

 

20%

 

2002

 

1991

 

 

46,000

 

 

 

307

 

 

99.5%

 

 

31.37

 

 

Giant, CVS, Advance Auto Parts, Chuck E. Cheese, HomeGoods, Goodwill, Furniture Max, DMV Iron Gym

Willston Centre I

 

Washington-Arlington-Alexandri

 

VA

 

40%

 

2005

 

1952

 

 

—

 

 

 

109

 

 

81.2%

 

 

32.05

 

 

Fashion K City

Willston Centre II

 

Washington-Arlington-Alexandri

 

VA

 

40%

 

2005

 

2010

 

 

32,000

 

 

 

136

 

 

100.0%

 

 

29.77

 

 

Safeway, (Target), (PetSmart)

6401 Roosevelt

 

Seattle-Tacoma-Bellevue

 

WA

 

 

 

2019

 

1929

 

 

—

 

 

 

8

 

 

38.9%

 

 

26.86

 

 

-

Aurora Marketplace

 

Seattle-Tacoma-Bellevue

 

WA

 

40%

 

2005

 

1991

 

 

13,400

 

 

 

107

 

 

97.6%

 

 

19.00

 

 

Safeway, TJ Maxx

Ballard Blocks I

 

Seattle-Tacoma-Bellevue

 

WA

 

50%

 

2018

 

2007

 

 

—

 

 

 

132

 

 

100.0%

 

 

28.27

 

 

LA Fitness, Ross Dress for Less, Trader Joe's

Ballard Blocks II

 

Seattle-Tacoma-Bellevue

 

WA

 

50%

 

2018

 

2018

 

 

—

 

 

 

117

 

 

88.5%

 

 

35.06

 

 

Bright Horizons, Kaiser Permanente, PCC Community Markets, Trufusion, West Marine

Broadway Market

 

Seattle-Tacoma-Bellevue

 

WA

 

20%

 

2014

 

1988

 

 

—

 

 

 

140

 

 

93.6%

 

 

30.25

 

 

Gold's Gym, Mosaic Salon Group, Quality Food Centers

Cascade Plaza

 

Seattle-Tacoma-Bellevue

 

WA

 

20%

 

1999

 

1999

 

 

—

 

 

 

213

 

 

79.4%

 

 

13.06

 

 

Big 5 Sporting Goods, Dollar Tree, Planet Fitness, Ross Dress For Less, Safeway, Aaron's

Eastgate Plaza

 

Seattle-Tacoma-Bellevue

 

WA

 

40%

 

2005

 

2018/2021

 

 

22,000

 

 

 

85

 

 

100.0%

 

 

32.25

 

 

Safeway, Rite Aid

Grand Ridge Plaza

 

Seattle-Tacoma-Bellevue

 

WA

 

 

 

2012

 

2018

 

 

—

 

 

 

331

 

 

100.0%

 

 

27.99

 

 

Bevmo!, Dick's Sporting Goods, Marshalls, Regal Cinemas,Safeway, Ulta

Inglewood Plaza

 

Seattle-Tacoma-Bellevue

 

WA

 

 

 

1999

 

1985

 

 

—

 

 

 

17

 

 

100.0%

 

 

49.32

 

 

-

Island Village

 

Seattle-Tacoma-Bellevue

 

WA

 

 

 

2023

 

2013

 

 

—

 

 

 

106

 

 

100.0%

 

 

17.72

 

 

Safeway, Rite Aid

Klahanie Shopping Center

 

Seattle-Tacoma-Bellevue

 

WA

 

 

 

2016

 

1998

 

 

—

 

 

 

66

 

 

96.3%

 

 

40.78

 

 

(QFC)

Melrose Market

 

Seattle-Tacoma-Bellevue

 

WA

 

 

 

2019

 

2009

 

 

—

 

 

 

20

 

 

92.7%

 

 

48.79

 

 

-

Overlake Fashion Plaza

 

Seattle-Tacoma-Bellevue

 

WA

 

40%

 

2005

 

2020

 

 

—

 

 

 

86

 

 

99.0%

 

 

31.75

 

 

Marshalls, Bevmo!, Amazon Go Grocery

Pine Lake Village

 

Seattle-Tacoma-Bellevue

 

WA

 

 

 

1999

 

1989

 

 

—

 

 

 

102

 

 

98.6%

 

 

31.35

 

 

Quality Food Centers, Planet Fitness

Roosevelt Square

 

Seattle-Tacoma-Bellevue

 

WA

 

 

 

2017

 

2017

 

 

—

 

 

 

149

 

 

94.4%

 

 

29.18

 

 

Whole Foods, Guitar Center, LA Fitness

Sammamish-Highlands

 

Seattle-Tacoma-Bellevue

 

WA

 

 

 

1999

 

2013

 

 

—

 

 

 

100

 

 

99.5%

 

 

41.56

 

 

Trader Joe's, Bartell Drugs, (Safeway)

Southcenter

 

Seattle-Tacoma-Bellevue

 

WA

 

 

 

1999

 

1990

 

 

—

 

 

 

57

 

 

100.0%

 

 

37.95

 

 

(Target)

Regency Centers Total

 

 

 

 

 

 

 

 

 

 

 

$

2,309,064

 

 

 

58,377

 

 

96.1%

 

$

26.03

 

 

 

 
(1) CBSA refers to Core-Based Statistical Area (e.g. metropolitan area).

(2) Represents our percentage ownership interest in the property, if not wholly-owned.

(3) Percentages also include properties where we have not yet incurred at least 90% of the expected costs to complete development and the property is not yet 95% occupied or the anchor has not yet been open for at least two years ("development properties" or "properties in development"). However, if development properties were excluded, the total percent leased would be 94.9% for our Combined Portfolio of shopping centers.

(4) Average base rent PSF is calculated based on annual minimum contractual base rent per the tenant lease, excluding percentage rent and recovery revenue.

(5) Retailers in parenthesis are "shadow anchors" at our shopping centers (as described in Item 1A, "Risk Factors"). We have no ownership or leasehold interest in their space, which is adjacent to our property or on a parcel owned by the shadow anchor that appears to be part of our center.

(6) The ground underlying the building and improvements is not owned by Regency or its unconsolidated real estate partnerships, but is subject to a ground lease.

(7) Property in development.

39

 

Item 3. Legal Proceedings
We are a party to various legal proceedings that arise in the ordinary course of our business. We are not currently involved in any litigation, nor, to our knowledge, is any litigation threatened against us, the outcome of which would, in our judgment based on information currently available to us, have a material adverse effect on our financial position or results of operations. However, no assurances can be given as to the outcome of any threatened or pending legal proceedings.
See Note 16 - Commitments and Contingencies in the Notes for discussion regarding material legal proceedings and contingencies.
Item 4. Mine Saf ety Disclosures
Not applicable.
PART II
Item 5. Market for the Registrant's Common Equity, Related St ockholder Matters and Issuer Purchases of Equity Securities
Our common stock is listed on the NASDAQ Global Select Market under the symbol "REG."
As of February 04, 2026, there were 175,442 holders of our common stock.
We intend to pay regular quarterly distributions to Regency Centers Corporation's common shareholders. Future distributions will be declared and paid at the discretion of our Board of Directors and will depend upon cash generated by our operating results, our financial condition, cash flows, capital requirements, future business prospects, annual dividend requirements under the REIT provisions of the Internal Revenue Code of 1986, as amended, and such other factors as our Board of Directors deems relevant. In order to maintain Regency Centers Corporation's qualification as a REIT for federal income tax purposes, we are generally required to make annual distributions equal to at least 90% of our REIT taxable income for the taxable year, excluding any net capital gains. Under certain circumstances we could be required to make distributions in excess of cash available for distributions in order to meet such requirements. We have a dividend reinvestment plan under which our shareholders may elect to reinvest their dividends automatically in common stock. Under the plan, we may elect to purchase common stock in the open market on behalf of shareholders or may issue new common stock to such shareholders.
Under the terms of our Line, in the event of any monetary default, we may not make distributions to shareholders except to the extent necessary to maintain our REIT status.
There were no unregistered sales of equity securities during the quarter ended December 31, 2025.
The following table represents information with respect to purchases by the Parent Company of its common stock, by month, during the three months ended December 31, 2025:

Period

 

Total number of shares purchased (1)

 

 

Average price paid per share

 

 

Total number of shares purchased as part of publicly announced plans or programs (2)

 

 

Maximum number or approximate dollar value of shares that may yet be purchased under the plans or programs (in thousands)  (2)

 

October 1 through October 31, 2025

 

 

144

 

 

$

72.90

 

 

 

—

 

 

$

250,000

 

November 1 through November 30, 2025

 

 

—

 

 

$

—

 

 

 

—

 

 

$

250,000

 

December 1 through December 31, 2025

 

 

—

 

 

$

—

 

 

 

—

 

 

$

250,000

 

 
(1) Represents shares repurchased to cover payment of withholding taxes in connection with restricted stock vesting by participants under Regency's Long-Term Omnibus Plan.

(2) On February 4, 2026, our Board approved a new common stock repurchase program, which replaced an existing program. The new program authorizes up to $500 million in repurchases, and the Company may purchase shares of its outstanding common stock through open market purchases and/or privately negotiated transactions, subject to market conditions and other factors. Any stock repurchased, if not retired, will be treated as treasury stock. The expiration date of the new repurchase program is February 28, 2029, unless modified, extended or earlier terminated by the Board in its discretion.

 

40

 

The performance graph furnished below shows Regency's cumulative total shareholder return relative to the S&P 500 Index, the FTSE Nareit Equity REIT Index, and the FTSE Nareit Equity Shopping Centers index since December 31, 2020. The following performance graph and table do not constitute soliciting material and should not be deemed filed or incorporated by reference into any other previous or future filings by us under the Securities Act of 1933, as amended (the "Securities Act") or the Securities Exchange Act of 1934, as amended (the "Exchange Act").
 
 

 

 

 

12/31/2020

 

 

12/31/2021

 

 

12/31/2022

 

 

12/31/2023

 

 

12/31/2024

 

 

12/31/2025

 

Regency Centers Corporation

 

$

100.00

 

 

 

171.39

 

 

 

148.15

 

 

 

165.58

 

 

 

190.21

 

 

 

184.91

 

S&P 500

 

 

100.00

 

 

 

128.71

 

 

 

105.40

 

 

 

133.10

 

 

 

166.40

 

 

 

196.16

 

FTSE NAREIT Equity REITs

 

 

100.00

 

 

 

143.24

 

 

 

108.34

 

 

 

123.21

 

 

 

133.97

 

 

 

137.83

 

FTSE NAREIT Equity Shopping Centers

 

 

100.00

 

 

 

165.05

 

 

 

144.36

 

 

 

161.74

 

 

 

189.29

 

 

 

182.01

 

 
Item 6. [Reserved ]

41

 

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations
Executing on our Strategy
During the year ended December 31, 2025, we had Net income attributable to common shareholders of $513.8 million as compared to $386.7 million during the year ended December 31, 2024. The increase was primarily attributable to a $72.2 million gain recognized from a partial distribution-in-kind transaction and a $45.2 million increase in base rent from same properties, reflecting improved operating performance.
During the year ended December 31, 2025:
• Our Pro-rata same property NOI, excluding termination fees, grew 5.3%, as compared to the year ended December 31, 2024, primarily attributable to improvements in base rent and recoveries from increases in year over year occupancy rates, contractual rent steps in existing leases, and positive rent spreads on comparable new and renewal leases.

• We executed 1,899 new and renewal leasing transactions representing 7.4 million Pro-rata SF with positive rent spreads of 10.8% during 2025, compared to 2,032 leasing transactions representing 9.9 million Pro-rata SF with positive rent spreads of 9.5% in 2024. Rent spreads are calculated on all executed leasing transactions for comparable Retail Operating Property spaces, including spaces vacant greater than 12 months.

• At December 31, 2025, our total property portfolio was 96.1% leased while our same property portfolio was 96.5% leased, compared to 96.3% and 96.6%, respectively, at December 31, 2024.

We continued our development and redevelopment of high-quality shopping centers:
• Estimated Pro-rata project costs of our current in process development and redevelopment projects totaled $597.4 million compared to $497.3 million at December 31, 2024.

• Development and redevelopment projects completed during 2025 represented $212.4 million of estimated net project costs, with an average stabilized yield of 10.1%. A stabilized yield for development and redevelopment projects represents the incremental NOI (estimated stabilized NOI less NOI prior to project commencement) divided by the total project costs.

We maintained liquidity and financial flexibility to cost effectively fund investment opportunities and debt maturities:
• In February 2025, the Company received a credit rating upgrade to A- with a stable outlook, from S&P Global Ratings. The Company maintains an A3 rating with a stable outlook from Moody’s Investors Service.

• In May 2025, the Company issued $400 million of senior unsecured notes due 2032, at a par value of 99.279% and a coupon of 5.0% (the "2025 Notes").

• In July 2025, as consideration for the acquisition of five operating properties, the Operating Partnership issued 2,773,087 Common Units, and assumed $150 million of secured mortgage debt with a weighted average interest rate of 4.2% and an average remaining term of approximately 12 years.

• The Company settled forward sales agreements entered into during 2024 under its At-the-Market ("ATM") program as follows:

o In August 2025, the Company issued 673,172 shares of common stock and received $49.2 million of net proceeds.

o In October 2025, the Company issued an additional 666,205 shares of common stock and received $49.1 million of net proceeds. Upon completion of these settlements, the Company had fully settled all forward sales agreements entered into during 2024.

• In October 2025, the Company received a property distribution from its Regency-GRI real estate investment partnership. The distribution involved 11 of the 66 properties within the partnership, and the Company received five of these properties, which had an aggregate fair value of $113.9 million. In addition, the Company assumed an existing fixed rate mortgage loan on one property of $10 million, maturing January 2026 with an interest rate of 3.95%. The remaining six properties were distributed to the Company's partner. The Company repaid the assumed mortgage loan in full in December 2025.

• In November 2025, the Company repaid $250 million of fixed-rate unsecured debt upon maturity.

• As of December 31, 2025, we had $441.8 million of loans maturing during the next 12 months, including Regency's share of maturities within our unconsolidated real estate partnerships, which we intend to refinance or pay off as they mature. Of this amount, $88.0 million was repaid at maturity on February 2, 2026.

• At December 31, 2025, we had $1.4 billion available on the Line, which expires on March 23, 2028 unless we exercise the available options to extend the expiration for the first of two additional consecutive six-month periods, in which case the term will be extended in accordance with any such option exercise.

42

 

Leasing Activity and Significant Tenants
We believe our high-quality, neighborhood and community shopping centers located in suburban trade areas with compelling demographics create attractive spaces for retail and service providers to operate their businesses.
Pro-rata Percent Leased
The following table summarizes Pro-rata percent leased of our combined consolidated and unconsolidated shopping center portfolio:

 

 

December 31, 2025

 

 

December 31, 2024

 

Percent Leased – All properties

 

 

96.1

%

 

 

96.3

%

Anchor Space (spaces ≥  10,000 SF)

 

 

98.0

%

 

 

98.4

%

Shop Space (spaces < 10,000 SF)

 

 

93.2

%

 

 

93.0

%

Pro-rata Leasing Activity
The following table summarizes leasing activity, including our Pro-rata share of activity within the portfolio of our real estate partnerships (totals as a weighted-average PSF):
 

 

 

Year Ended December 31, 2025

 

 

 

Leasing
Transactions

 

 

SF
(in thousands)

 

 

Base
Rent PSF

 

 

Tenant
Allowance
and Landlord
Work PSF

 

 

Leasing
Commissions
PSF

 

Anchor Space Leases

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

New

 

 

34

 

 

 

1,030

 

 

$

17.46

 

 

$

28.67

 

 

$

4.65

 

Renewal

 

 

102

 

 

 

3,050

 

 

 

15.14

 

 

 

0.65

 

 

 

0.41

 

Total Anchor Space Leases

 

 

136

 

 

 

4,080

 

 

$

15.73

 

 

$

7.72

 

 

$

1.48

 

Shop Space Leases

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

New

 

 

586

 

 

 

1,155

 

 

$

43.16

 

 

$

51.12

 

 

$

17.37

 

Renewal

 

 

1,177

 

 

 

2,214

 

 

 

40.89

 

 

 

1.45

 

 

 

1.30

 

Total Shop Space Leases

 

 

1,763

 

 

 

3,369

 

 

$

41.67

 

 

$

18.48

 

 

$

6.81

 

Total Leases

 

 

1,899

 

 

 

7,449

 

 

$

27.46

 

 

$

12.58

 

 

$

3.89

 

 

 

 

Year Ended December 31, 2024

 

 

 

Leasing
Transactions

 

 

SF
(in thousands)

 

 

Base
Rent PSF

 

 

Tenant
Allowance
and Landlord
Work PSF

 

 

Leasing
Commissions
PSF

 

Anchor Space Leases

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

New

 

 

39

 

 

 

952

 

 

$

20.06

 

 

$

61.64

 

 

$

6.77

 

Renewal

 

 

153

 

 

 

4,778

 

 

 

18.48

 

 

 

0.72

 

 

 

0.09

 

Total Anchor Space Leases

 

 

192

 

 

 

5,730

 

 

$

18.76

 

 

$

11.74

 

 

$

1.30

 

Shop Space Leases

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

New

 

 

598

 

 

 

1,415

 

 

$

39.91

 

 

$

44.11

 

 

$

14.58

 

Renewal

 

 

1,242

 

 

 

2,714

 

 

 

38.39

 

 

 

2.52

 

 

 

0.65

 

Total Shop Space Leases

 

 

1,840

 

 

 

4,129

 

 

$

38.92

 

 

$

16.98

 

 

$

5.49

 

Total Leases

 

 

2,032

 

 

 

9,859

 

 

$

27.19

 

 

$

13.93

 

 

$

3.05

 

The weighted-average base rent PSF on signed Shop Space leases during 2025 was $41.67 PSF, which is higher than the weighted average annual base rent PSF of all Shop Space leases due to expire during the next 12 months of $37.85 PSF. New and renewal rent spreads, compared to prior rents on these same spaces leased, were positive at 10.8% for the 12 months ended December 31, 2025, compared to 9.5% for the 12 months ended December 31, 2024.

43

 

Diversification and Concentration of Tenant Risk
We seek to reduce our risk by limiting concentration. For example, we utilize geographic diversification, as described in "Item 2. Properties " of this Report, and also seek to avoid dependence on any single property, market, or tenant. Based on percentage of annualized base rent, the following table summarizes our most significant tenants, of which four of the top five are grocers:
 

 

 

December 31, 2025

 

Anchor

 

Number of
Stores

 

 

Percentage of
Company-
owned GLA (1)

 

 

Percentage of
Annual
Base Rent (1)

 

Publix

 

 

67

 

 

 

5.8

%

 

 

2.9

%

TJX Companies, Inc.

 

 

76

 

 

 

3.6

%

 

 

2.7

%

Albertsons Companies, Inc.

 

 

52

 

 

 

4.1

%

 

 

2.7

%

Amazon/Whole Foods

 

 

39

 

 

 

2.6

%

 

 

2.5

%

Kroger Co.

 

 

51

 

 

 

5.9

%

 

 

2.5

%

(1) Includes Regency's share of unconsolidated properties and excludes those owned by anchors.

Bankruptcies and Credit Concerns
Our management team devotes significant time to researching and monitoring consumer preferences and trends, customer shopping behaviors, changes in delivery methods, shifts to e-commerce, and changing demographics in order to anticipate the challenges and opportunities impacting our industry. We seek to mitigate potentially adverse impacts through maintaining a high quality portfolio, diversifying our geographic and tenant mix, replacing less successful tenants with stronger operators, anchoring our centers with market leading grocery stores that drive customer traffic, and investing in suburban trade areas with compelling demographic populations benefiting from high levels of disposal income.
We recognize that current domestic and global economic policies and conditions such as tariffs, trade deal activity, inflation, labor cost and availability, energy prices, interest rate volatility, supply chain disruptions, access to and cost of credit, and tax and regulatory changes, have introduced additional business uncertainty to some of our tenants. These economic policies and conditions could place further financial strain on our tenants by impacting sales, raising costs and compressing margins. The impacts of these policies and conditions, which could included an economic downturn or recession, could negatively impact our tenants and their ability to continue to meet their lease obligations.
Although base rent is derived from long-term lease contracts, tenants that file for bankruptcy generally have the legal right to reject any or all of their leases and close related stores. Any unsecured claim we hold against a bankrupt tenant for unpaid rent might be paid only to the extent that funds are available and only in the same percentage as is paid to all other holders of unsecured claims. As a result, in a tenant bankruptcy situation it is likely that we would recover substantially less than the full value of any unsecured claims we hold. Additionally, we may incur significant expense to adjudicate our claim and significant downtime to re-lease the vacated space. In the event that a tenant with a significant number of leases in our shopping centers files for bankruptcy and rejects its leases, we could experience a significant reduction in our revenues. As of December 31, 2025, the tenants who are currently in bankruptcy and continue to occupy space in our shopping centers represent an aggregate of 0.69% of our Pro-rata annual base rent with no single tenant exceeding 0.5% of Pro-rata annual base rent.
For a discussion and analysis of the year ended December 31, 2024, compared to the same period in 2023, see "Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations " of our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on February 14, 2025.
 

44

 

Results of Operations
Comparison of the years ended December 31, 2025 and 2024:
Changes in revenues are summarized in the following table:
 

(in thousands)

 

2025

 

 

2024

 

 

Change

 

Lease income

 

 

 

 

 

 

 

 

 

Base rent

 

$

1,049,767

 

 

 

986,916

 

 

 

62,851

 

Recoveries from tenants

 

 

376,248

 

 

 

345,145

 

 

 

31,103

 

Percentage rent

 

 

13,916

 

 

 

13,777

 

 

 

139

 

Uncollectible lease income

 

 

(2,793

)

 

 

(3,324

)

 

 

531

 

Other lease income

 

 

25,364

 

 

 

23,722

 

 

 

1,642

 

Straight-line rent

 

 

24,495

 

 

 

20,300

 

 

 

4,195

 

Above/below market rent amortization, net

 

 

24,428

 

 

 

24,843

 

 

 

(415

)

Total lease income

 

$

1,511,425

 

 

 

1,411,379

 

 

 

100,046

 

Other property income

 

 

13,741

 

 

 

14,651

 

 

 

(910

)

Management, transaction, and other fees

 

 

28,358

 

 

 

27,874

 

 

 

484

 

Total revenues

 

$

1,553,524

 

 

 

1,453,904

 

 

 

99,620

 

Lease income increased by $100.0 million primarily due to the following:
• $62.9 million increase in Base rent, mainly driven by the following:

o $45.2 million increase resulting from same properties, including:

▪ $25.7 million increase due to increases from occupancy, contractual rent steps in existing leases, and positive rental spreads on new and renewal leases;

▪ $14.0 million increase due to redevelopment projects that commenced operations in 2025; and

▪ $5.5 million increase related to our acquisitions of the remaining ownership interests in and resulting consolidation of properties previously held in unconsolidated real estate partnerships;

o $16.2 million increase from acquisitions of operating properties in 2025 as compared to 2024 activity; and

o $5.0 million increase from rent commencements at completed development properties; partially offset by

o $3.5 million decrease due to disposition of operating properties.

• $31.1 million increase from contractual Recoveries from tenants which represents their proportionate share of the operating, maintenance, insurance, and real estate tax expenses that we incur to operate our shopping centers. Recoveries from tenants increased, mainly from the following:

o $23.2 million increase primarily driven by higher operating costs and higher recovery rates due to increased occupancy in the current year;

o $6.5 million increase driven by the acquisition of operating properties in 2025 as compared to 2024 and rent commencements at development properties; and

o $2.0 million increase related to our acquisitions of the remaining ownership interests in and resulting consolidation of properties previously held in unconsolidated real estate partnerships; partially offset by

o $0.5 million decrease due to disposition of operating properties.

• $1.6 million increase in Other lease income mainly due to increase in lease termination fee income.

• $4.2 million increase in Straight-line rent mainly due to timing and degree of contractual rent steps and new lease commencements.

There were no significant changes in Other property income, or Management, transaction, and other fees.
Changes in our operating expenses are summarized in the following table:
 

(in thousands)

 

2025

 

 

2024

 

 

Change

 

Depreciation and amortization

 

$

405,044

 

 

 

394,714

 

 

 

10,330

 

Property operating expense

 

 

264,877

 

 

 

248,637

 

 

 

16,240

 

Real estate taxes

 

 

192,282

 

 

 

184,415

 

 

 

7,867

 

General and administrative

 

 

99,407

 

 

 

101,465

 

 

 

(2,058

)

Other operating expenses

 

 

8,849

 

 

 

10,867

 

 

 

(2,018

)

Total operating expenses

 

$

970,459

 

 

 

940,098

 

 

 

30,361

 

 

45

 

Depreciation and amortization increased by $10.3 million, mainly due to the following:
• $16.7 million increase from acquisitions of operating properties and development properties becoming available for occupancy; and

• $3.9 million increase related to acquisitions of the remaining ownership interests in and resulting consolidation of properties previously held in unconsolidated real estate partnerships; partially offset by

• $9.1 million decrease from same properties mainly driven by the timing of capital expenditures being placed in service within our redevelopment projects and accelerated amortization of certain early tenant move-outs; and

• $1.4 million decrease from dispositions of operating properties.

Property operating expense increased by $16.2 million, mainly due to the following:
• $11.7 million increase from same properties primarily due to higher recoverable common area maintenance, management and utility expenses;

• $4.1 million increase in acquisitions of operating properties and development properties; and

• $1.4 million increase related to our acquisitions of the remaining ownership interests in and resulting consolidation of properties previously held in unconsolidated real estate partnerships; partially offset by

• $1.0 million decrease due to disposition of operating properties.

Real estate taxes increased by $7.9 million, mainly due to the following:
• $5.4 million increase from same properties primarily due to increases in real estate tax assessments across the portfolio;

• $2.4 million increase from the acquisitions of other operating properties and development properties; and

• $1.0 million increase related to our acquisitions of the remaining ownership interests in and resulting consolidation of properties previously held in unconsolidated real estate partnerships; partially offset by

• $1.0 million decrease from dispositions of operating properties.

General and administrative costs decreased by $2.1 million, mainly due to the following:
• $8.5 million decrease due to higher overhead capitalization resulting from increased development, redevelopment and leasing activity; and

• $2.0 million decrease due to changes in the fair value of participant obligations within the deferred compensation plan, which were attributable to changes in the fair values of those investments recognized in Net investment income; partially offset by

• $5.4 million increase in compensation costs primarily driven by performance-based incentive compensation; and

• $3.0 million increase primarily attributable to higher costs in business promotion, charitable contributions, professional fees and other general and administrative expenses.

Other operating expenses decreased by $2.0 million, mainly due to the $7.7 million of transition costs recognized in 2024 related to the UBP acquisition, partially offset by $5.7 million increase in environmental reserve costs, development pursuit costs, and other fees.
Changes in Other expense, net are summarized in the following table:
 

(in thousands)

 

2025

 

 

2024

 

 

Change

 

Interest expense, net

 

 

 

 

 

 

 

 

 

Interest on notes payable

 

$

208,402

 

 

 

187,084

 

 

 

21,318

 

Interest on unsecured credit facilities

 

 

8,343

 

 

 

8,566

 

 

 

(223

)

Capitalized interest

 

 

(10,289

)

 

 

(6,627

)

 

 

(3,662

)

Hedge expense

 

 

784

 

 

 

728

 

 

 

56

 

Interest income

 

 

(7,692

)

 

 

(9,632

)

 

 

1,940

 

Interest expense, net

 

 

199,548

 

 

 

180,119

 

 

 

19,429

 

Provision for impairment of real estate

 

 

4,606

 

 

 

14,304

 

 

 

(9,698

)

Gain on sale of real estate, net of tax

 

 

(24,464

)

 

 

(34,162

)

 

 

9,698

 

Loss (gain) on early extinguishment of debt

 

 

—

 

 

 

180

 

 

 

(180

)

Net investment income

 

 

(4,077

)

 

 

(6,181

)

 

 

2,104

 

Total other expense, net

 

$

175,613

 

 

 

154,260

 

 

 

21,353

 

 

46

 

Interest expense, net increased by $19.4 million primarily due to the following:
• $21.3 million increase in Interest on notes payable primarily due to new net public debt issuances in 2025 at higher rates as compared to 2024; and

• $1.9 million decrease in Interest income primarily due to lower interest rates in 2025 as compared to 2024 as well as lower average balances in interest bearing accounts and shorter durations of short term investment vehicles; partially offset by

• $3.7 million increase in Capitalized interest based on the timing and progress of our development and redevelopment projects.

In 2025, Provision for impairment of real estate of $4.6 million was recognized related to sales of five operating properties. In 2024 Provision for impairment of real estate of $14.3 million was recognized related to a sale of an operating property and the change in expected hold period of another operating property, which was subsequently sold in 2025.
During 2025, we recognized Gain on sale of real estate, net of tax of $24.5 million primarily from sales of two operating properties and two outparcels. During 2024, we recognized Gain on sale of real estate, net of tax of $34.2 million primarily from sales of five operating properties and recognition of two sales-type leases.
There were no significant changes in Loss (gain) on early extinguishments of debt.
Net investment income decreased by $2.1 million primarily driven by market volatility during the current period, including a $2.0 million decrease in returns on investments held in the non-qualified deferred compensation plan.
Equity in income of investments in real estate partnerships increased by $83.2 million due to:
• $76.0 million increase related to a gain recognized from a partial distribution-in-kind transaction and partial sales of real estate; and

• $7.2 million increase driven from increased occupancy and positive rental spreads on new and renewal leases.

The following represents the remaining components that comprise Net income attributable to common shareholders and unit holders:
 

(in thousands)

 

2025

 

 

2024

 

 

Change

 

Net income

 

$

540,951

 

 

 

409,840

 

 

 

131,111

 

Income attributable to noncontrolling interests

 

 

(13,491

)

 

 

(9,452

)

 

 

(4,039

)

Net income attributable to the Company

 

 

527,460

 

 

 

400,388

 

 

 

127,072

 

Preferred stock dividends

 

 

(13,650

)

 

 

(13,650

)

 

 

—

 

Net income attributable to common shareholders

 

$

513,810

 

 

 

386,738

 

 

 

127,072

 

Net income attributable to exchangeable operating partnership units ("EOP")

 

 

7,069

 

 

 

2,338

 

 

 

4,731

 

Net income attributable to common unit holders

 

$

520,879

 

 

 

389,076

 

 

 

131,803

 

Income attributable to noncontrolling interests increased by $4.0 million, primarily due to a $4.7 million increase associated with the issuance of 2.8 million exchangeable operating partnership units to unrelated third-party sellers in connection with the acquisition of five properties in July 2025, partially offset by a $0.7 million decrease in net income from other consolidated real estate partnerships.
There was no change in Preferred stock dividends.
Net income attributable to exchangeable operating partnership units increased by $4.7 million, mainly due to the issuance of 2.8 million exchangeable operating partnership units to unrelated third-party sellers in consideration for the acquisition of five properties in July 2025.

47