(Mark One)
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þ
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ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2007 |
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OR
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o
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Ohio | 34-1723097 | |
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(State or Other Jurisdiction
of Incorporation or Organization) |
(I.R.S. Employer Identification No.) |
Title of Each Class
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Name of Each Exchange on Which Registered | |
Common Shares, Without Par Value
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New York Stock Exchange | |
Depositary Shares Representing
Class G Cumulative Redeemable Preferred Shares |
New York Stock Exchange | |
Depositary Shares Representing
Class H Cumulative Redeemable Preferred Shares |
New York Stock Exchange | |
Depositary Shares Representing
Class I Cumulative Redeemable Preferred Shares |
New York Stock Exchange |
Large accelerated
filer þ
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Accelerated filer o |
Non-accelerated
filer o (Do not check if a smaller reporting company) |
Smaller reporting company o |
Report |
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Item No.
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Page | |||||||
PART I
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1.
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Business
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3 | ||||||
1A.
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Risk Factors
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6 | ||||||
1B.
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Unresolved Staff Comments
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13 | ||||||
2.
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Properties
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14 | ||||||
3.
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Legal Proceedings
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70 | ||||||
4.
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Submission of Matters to a Vote of Security Holders
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70 | ||||||
PART II | ||||||||
5.
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Market for Registrants Common Equity, Related Stockholder
Matters and Issuer Purchases of Equity Securities
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72 | ||||||
6.
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Selected Financial Data
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74 | ||||||
7.
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Managements Discussion and Analysis of Financial Condition
and Results of Operations
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77 | ||||||
7A.
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Quantitative and Qualitative Disclosures about Market Risk
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130 | ||||||
8.
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Financial Statements and Supplementary Data
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132 | ||||||
9.
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Changes in and Disagreements with Accountants on Accounting and
Financial Disclosure
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132 | ||||||
9A.
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Controls and Procedures
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132 | ||||||
9B.
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Other Information
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133 | ||||||
PART III | ||||||||
10.
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Directors, Executive Officers and Corporate Governance
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134 | ||||||
11.
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Executive Compensation
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134 | ||||||
12.
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Security Ownership of Certain Beneficial Owners and Management
and Related Stockholder Matters
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134 | ||||||
13.
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Certain Relationships and Related Transactions, and Director
Independence
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135 | ||||||
14.
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Principal Accounting Fees and Services
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135 | ||||||
PART IV | ||||||||
15.
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Exhibits, Financial Statement Schedules
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135 |
2
Item 1. | BUSINESS |
3
4
| Increase cash flows and property values through strategic leasing, re-tenanting, renovation and expansion of the Companys portfolio; | |
| Continue to selectively acquire well-located, quality shopping centers (individually or in portfolio transactions) that have leases at rental rates below market rates or other cash flow growth or capital appreciation potential where the Companys financial strength, relationships with retailers and management capabilities can enhance value; | |
| Increase cash flows and property values by continuing to take advantage of attractive financing and refinancing opportunities; | |
| Increase per share cash flows through the strategic disposition of low growth assets and utilize the proceeds to repay debt, invest in other higher growth real estate assets and developments; | |
| Selectively develop or sell the Companys undeveloped parcels or new sites in areas with attractive demographics; | |
| Hold properties for long-term investment and place a strong emphasis on regular maintenance, periodic renovation and capital improvements; | |
| Continue to manage and develop the properties of others to generate fee income, subject to restrictions imposed by federal income tax laws and | |
| Explore international markets and selectively invest where the greatest value creation opportunities exist. |
5
Item 1A. | RISK FACTORS |
| Changes in the national, regional and local economic climate; | |
| Local conditions, such as an oversupply of space or a reduction in demand for real estate in the area; | |
| The attractiveness of the properties to tenants; | |
| Competition from other available space; | |
| The Companys ability to provide adequate management services and to maintain its properties; | |
| Increased operating costs, if these costs cannot be passed through to tenants, and | |
| The expense of periodically renovating, repairing and reletting spaces. |
6
| Experience a downturn in their business that significantly weakens their ability to meet their obligations to the Company; | |
| Delay lease commencements; | |
| Decline to extend or renew leases upon expiration; | |
| Fail to make rental payments when due or | |
| Close stores or declare bankruptcy. |
| The Companys estimates on expected occupancy and rental rates may differ from actual conditions; | |
| The Companys estimates of the costs of any redevelopment or repositioning of acquired properties may prove to be inaccurate; | |
| The Company may be unable to operate successfully in new markets where acquired properties are located, due to a lack of market knowledge or understanding of local economies; | |
| The Company may be unable to successfully integrate new properties into its existing operations or | |
| The Company may have difficulty obtaining financing on acceptable terms or paying the operating expenses and debt service associated with acquired properties prior to sufficient occupancy. |
7
| The Company may abandon development opportunities after expending resources to determine feasibility; | |
| Construction costs of a project may exceed the Companys original estimates; | |
| Occupancy rates and rents at a newly completed property may not be sufficient to make the property profitable; | |
| Rental rates per square foot could be less than projected; | |
| Financing may not be available to the Company on favorable terms for development of a property; | |
| The Company may not complete construction and lease-up on schedule, resulting in increased debt service expense and construction costs, and | |
| The Company may not be able to obtain, or may experience delays in obtaining, necessary zoning, land use, building, occupancy and other required governmental permits and authorizations. |
8
| The Companys credit ratings with major credit rating agencies; | |
| The prevailing interest rates being paid by, or the market price for publicly traded debt issued by, other companies similar to the Company; | |
| The Companys financial condition, liquidity, leverage, financial performance and prospects and | |
| The overall condition of the financial markets. |
| The Companys cash flow may not satisfy required payments of principal and interest; | |
| The Company may not be able to refinance existing indebtedness on its properties as necessary, or the terms of the refinancing may be less favorable to the Company than the terms of existing debt; | |
| Required debt payments are not reduced if the economic performance of any property declines; |
9
| Debt service obligations could reduce funds available for distribution to the Companys shareholders and funds available for development and acquisitions; | |
| Any default on the Companys indebtedness could result in acceleration of those obligations and possible loss of property to foreclosure and | |
| Necessary capital expenditures for purposes such as re-leasing space cannot be financed on favorable terms. |
| The Company would be taxed as a regular domestic corporation, which, among other things, means that it would be unable to deduct distributions to its shareholders in computing its taxable income and would be subject to U.S. federal income tax on its taxable income at regular corporate rates; | |
| Any resulting tax liability could be substantial and would reduce the amount of cash available for distribution to shareholders and could force the Company to liquidate assets or take other actions that could have a detrimental effect on its operating results and |
10
| Unless the Company was entitled to relief under applicable statutory provisions, it would be disqualified from treatment as a REIT for the four taxable years following the year during which the Company lost its qualification, and its cash available for distribution to its shareholders therefore would be reduced for each of the years in which the Company does not qualify as a REIT. |
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| The extent of institutional investor interest in the Company; | |
| The reputation of REITs generally and the reputation of REITs with similar portfolios; | |
| The attractiveness of the securities of REITs in comparison to securities issued by other entities (including securities issued by other real estate companies); | |
| The Companys financial condition and performance; | |
| The markets perception of the Companys growth potential and future cash dividends; | |
| An increase in market interest rates, which may lead prospective investors to demand a higher distribution rate in relation to the price paid for the Companys shares and | |
| General economic and financial market conditions. |
Item 1B. | UNRESOLVED STAFF COMMENTS |
13
Item 2. | PROPERTIES |
| 167 of these properties are anchored by a Wal-Mart, Kohls or Target store; | |
| These properties range in size from 10,000 square feet to approximately 1,100,000 square feet of total GLA (with 95 properties exceeding 400,000 square feet of total GLA); | |
| Approximately 68.4% of the aggregate Company-owned GLA of these properties is leased to national tenants, including subsidiaries of national tenants, approximately 16.9% is leased to regional tenants and approximately 9.6% is leased to local tenants; | |
| Approximately 94.9% of the aggregate Company-owned GLA of these properties was occupied as of December 31, 2007. With respect to the properties owned by the Company, or one of its joint ventures, as of December 31 of each of the last five years beginning with 2003, between 94.3% and 95.3% of the aggregate Company-owned GLA of these properties was occupied; | |
| Six wholly-owned properties are currently being expanded by the Company, and six properties owned by joint ventures are being expanded and | |
| Eleven wholly-owned properties and four joint venture properties are currently being developed by the Company. |
14
Average |
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Base |
Percentage of |
Percentage of |
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Annualized |
Rent Per |
Total Leased |
Total Base |
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Approximate |
Base Rent |
Sq. Foot |
Sq. Footage |
Rental Revenues |
||||||||||||||||||||
No. of |
Lease Area in |
Under Expiring |
Under |
Represented |
Represented by |
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Expiration |
Leases |
Square Feet |
Leases |
Expiring |
by Expiring |
Expiring |
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Year
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Expiring | (Thousands) | (Thousands) | Leases | Leases | Leases | ||||||||||||||||||
2008
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824 | 3,303 | $ | 44,036 | $ | 13.33 | 6.0 | % | 7.5 | % | ||||||||||||||
2009
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749 | 4,283 | 53,782 | 12.56 | 7.8 | 9.2 | ||||||||||||||||||
2010
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699 | 4,350 | 51,501 | 11.84 | 7.9 | 8.8 | ||||||||||||||||||
2011
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706 | 4,901 | 64,078 | 13.08 | 8.9 | 11.0 | ||||||||||||||||||
2012
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598 | 5,397 | 63,066 | 11.68 | 9.8 | 10.8 | ||||||||||||||||||
2013
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271 | 3,865 | 40,299 | 10.43 | 7.0 | 6.9 | ||||||||||||||||||
2014
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174 | 3,202 | 34,508 | 10.78 | 5.8 | 5.9 | ||||||||||||||||||
2015
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170 | 3,158 | 34,700 | 10.99 | 5.8 | 5.9 | ||||||||||||||||||
2016
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156 | 2,519 | 31,389 | 12.46 | 4.6 | 5.4 | ||||||||||||||||||
2017
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165 | 3,182 | 37,358 | 11.74 | 5.8 | 6.4 | ||||||||||||||||||
Total
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4,512 | 38,160 | $ | 454,717 | $ | 11.92 | 69.4 | % | 77.8 | % | ||||||||||||||
Average |
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Base |
Percentage of |
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Annualized |
Rent Per |
Total Leased |
Percentage of |
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Approximate |
Base Rent |
Sq. Foot |
Sq. Footage |
Total Base |
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No. of |
Lease Area in |
Under Expiring |
Under |
Represented |
Rental Revenues |
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Expiration |
Leases |
Square Feet |
Leases |
Expiring |
by Expiring |
Represented by |
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Year
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Expiring | (Thousands) | (Thousands) | Leases | Leases | Expiring Leases | ||||||||||||||||||
2008
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1,245 | 3,208 | $ | 55,412 | $ | 17.27 | 5.2 | % | 7.4 | % | ||||||||||||||
2009
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1,085 | 4,334 | 61,826 | 14.27 | 7.0 | 8.3 | ||||||||||||||||||
2010
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1,034 | 5,183 | 75,052 | 14.48 | 8.4 | 10.1 | ||||||||||||||||||
2011
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1,086 | 5,823 | 92,498 | 15.88 | 9.4 | 12.4 | ||||||||||||||||||
2012
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1,010 | 5,716 | 90,964 | 15.91 | 9.3 | 12.2 | ||||||||||||||||||
2013
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357 | 3,653 | 47,713 | 13.06 | 5.9 | 6.4 | ||||||||||||||||||
2014
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198 | 3,406 | 41,347 | 12.14 | 5.5 | 5.6 | ||||||||||||||||||
2015
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153 | 3,050 | 34,675 | 11.37 | 4.9 | 4.7 | ||||||||||||||||||
2016
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163 | 3,887 | 41,314 | 10.63 | 6.3 | 5.6 | ||||||||||||||||||
2017
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135 | 2,907 | 36,162 | 12.44 | 4.7 | 4.9 | ||||||||||||||||||
Total
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6,466 | 41,167 | $ | 576,963 | $ | 14.02 | 66.6 | % | 77.6 | % | ||||||||||||||
15
Developers Diversified Realty
Corporation |
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Shopping Center Property List at December 31, 2007 |
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Company- |
Average |
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Owned |
Base |
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Type of |
Year |
DDR |
Gross |
Total |
Rent |
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Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
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Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
Alabama | ||||||||||||||||||||||||||||||||||||||||||
1
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Birmingham, AL | Brook Highland Plaza 5291 Hwy. 280 South | 35242 | SC | Fee | 1994/2003 | 1994 | 100% | 427,087 | $ | 4,521,346 | $ | 10.36 | 89.1% | Dicks Sporting Goods (2017), Goodys (2009), Lowes (2023), Stein Mart (2011), Office Max (2011), Michaels (2009), Homegoods (2016), Books-A-Million (2010), Ross Dress For Less (2014) | |||||||||||||||||||||||||||
2
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Birmingham, AL | Eastwood Festival Center 7001 Crestwood Blvd. | 35210 | SC | Fee | 1989/1999 | 1995 | 100% | 300,280 | $ | 1,112,092 | $ | 7.20 | 51.5% | Dollar Tree (2009), Burlington Coat Factory (2008), Western Supermarkets (Not Owned), Home Depot (Not Owned) | |||||||||||||||||||||||||||
3
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Birmingham, AL |
River Ridge US Highway 280 |
35242 | SC | Fee (3 | ) | 2001 | 2007 | 15% | 172,304 | $ | 2,701,215 | $ | 16.17 | 97% | Staples (2016), Linens N Things (2012), Best Buy (2017), Super Target (Not Owned) | ||||||||||||||||||||||||||
4
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Birmingham, AL | Riverchase Promenade (I) Montgomery Highway | 35244 | SC | Fee (3 | ) | 1989 | 2002 | 14.5% | 120,108 | $ | 1,728,720 | $ | 15.16 | 95% | Marshalls (2009), Goodys (Not Owned), Toys R Us (Not Owned) | ||||||||||||||||||||||||||
5
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Cullman, AL |
Lowes Home Improvement - Cull 1717 Cherokee Ave. SW |
35055 | SC | Fee | 1998 | 2007 | 100% | 101,287 | $ | 682,500 | $ | 6.74 | 100% | Lowess (2015) | |||||||||||||||||||||||||||
6
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Dothan, AL | Circuit City - Dothan 2821 Montgomery Hwy. | 36303 | SC | Fee | 2004 | 2007 | 100% | 33,906 | $ | 567,926 | $ | 16.75 | 100% | Circuit City (2020) | |||||||||||||||||||||||||||
7
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Dothan, AL | Shops on the Circle 3500 Ross Clark Circle | 36303 | SC | Fee | 2000 | 2007 | 100% | 149,085 | $ | 1,664,555 | $ | 11.56 | 96.6% | Old Navy (2010), T.J. Maxx (2010), Office Max (2016) | |||||||||||||||||||||||||||
8
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Florence, AL | Cox Creek Shopping Center 374-398 Cox Creek Parkway | 35360 | SC | Fee (3 | ) | 2001 | 2007 | 15% | 173,989 | $ | 1,831,420 | $ | 11.17 | 94.3% | Best Buy (2017), Michaels (2011), Dicks Sporting Goods (2017), Linens N Things (2011), Target (Not Owned) | ||||||||||||||||||||||||||
9
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Gadsden, AL | East Side Plaza 3010-3036 E. Meighan Boulevard | 35903 | SC | Fee | 1979/2004 | 2003 | 100% | 85,196 | $ | 271,898 | $ | 5.13 | 62.3% | Freds (2009), Food World (Not Owned) | |||||||||||||||||||||||||||
10
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Huntsville, AL |
Westside Centre 6275 University Dr. |
35806 | SC | Fee (3 | ) | 2002 | 2007 | 15% | 475,307 | $ | 5,199,645 | $ | 11.57 | 94.5% | Babies R Us (2012), Marshalls (2011), Bed Bath & Beyond (2012), Michaels (2011), Goodys (2016), Dicks Sporting Goods (2017), Stein Mart (2011), Ross Dress For Less (2013), CompUSA (2016), Target (Not Owned) | ||||||||||||||||||||||||||
11
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Opelika, AL | Pepperell Corners 2300-2600 Pepperell Parkway | 36801 | SC | Fee | 1995 | 2003 | 100% | 306,224 | $ | 1,438,900 | $ | 5.77 | 81.5% | Lowes (2012), Goodys (2010), Steve & Barrys (2014) | |||||||||||||||||||||||||||
12
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Scottsboro, AL | Scottsboro Marketplace 24833 John P Reid Parkway | 35766 | SC | Fee | 1999 | 2003 | 100% | 40,560 | $ | 458,118 | $ | 11.29 | 100% | Goodys (2011), Wal-Mart (Not Owned) |
16
Developers Diversified Realty
Corporation |
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Shopping Center Property List at December 31, 2007 |
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Company- |
Average |
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Owned |
Base |
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Type of |
Year |
DDR |
Gross |
Total |
Rent |
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Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
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Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
13
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Tuscaloosa, AL | Mcfarland Plaza 2600 Mcfarland Bldg. E. | 35404 | SC | Fee (3 | ) | 1999 | 2007 | 15% | 229,323 | $ | 1,681,254 | $ | 8.67 | 84.6% | Stein Mart (2009), Old Navy (2011), Circuit City (2020), Office Max (2015), Toys R Us (2011) | ||||||||||||||||||||||||||
Arizona | ||||||||||||||||||||||||||||||||||||||||||
14
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Ahwatukee, AZ | Foothills Towne Center (II) 4711 East Ray Road | 85044 | SC | Fee (3 | ) | 1996 | 1999 | 50% | 647,883 | $ | 10,563,389 | $ | 16.02 | 98.1% | Jo-Ann Stores (2010), Best Buy (2014), AMC Theatres (2021), Bassett Furniture (2010), Ashley Furniture Homestore (2011), Barnes & Noble (2012), Babies R Us (2012), Stein Mart (2011), Ross Dress For Less (2012), Office Max (2012) | ||||||||||||||||||||||||||
15
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Chandler, AZ |
Mervyns Plaza 2992 North Alma School Road |
85224 | MV | Fee | 1985 | 2005 | 50% | 74,862 | $ | 686,664 | $ | 9.17 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
16
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Mesa, AZ | Superstition Springs Center 6505 E. Southern Avenue | 85206 | MV | Fee | 1990 | 2005 | 50% | 86,858 | $ | 1,174,612 | $ | 13.52 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
17
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Phoenix, AZ | Arrowhead Crossing 7553 West Bell Road | 85382 | SC | Fee (3 | ) | 1995 | 1996 | 50% | 346,428 | $ | 4,687,524 | $ | 13.59 | 99.6% | Staples (2009), Mac Frugals (2010), Barnes & Noble (2011), T.J. Maxx (2011), Circuit City (2016), DSW Shoe Warehouse (2017), Bassett Furniture (2009), Linens N Things (2011), Frys (Not Owned), Homegoods (2012) | ||||||||||||||||||||||||||
18
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Phoenix, AZ | Phoenix Spectrum Mall 1703 W. Bethany Home Rd. | 85015 | SC | GL(3 | ) | 1961 | 2004 | 20% | 421,537 | $ | 6,703,753 | $ | 11.02 | 98.1% | Wal-Mart (2023), Costco Wholesale (2020), Ross Dress For Less (2013), PetSmart (2019), JCPenney (2037), Harkins Theatre (2022), Dillards (Not Owned), Target (Not Owned) | ||||||||||||||||||||||||||
19
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Phoenix, AZ | Deer Valley Towne Center 2805 West Aqua Fria Freeway | 85027 | SC | Fee | 1996 | 1999 | 100% | 194,009 | $ | 3,122,661 | $ | 15.74 | 100% | Ross Dress For Less (2009), Office Max (2013), PetSmart (2014), Michaels (2009), Target (Not Owned), AMC Theatres (Not Owned) | |||||||||||||||||||||||||||
20
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Phoenix, AZ | Deer Valley 4255 W. Thunderbird Road | 85053 | MV | Fee | 1979 | 2005 | 50% | 81,009 | $ | 835,441 | $ | 10.31 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
21
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Phoenix, AZ | Paradise Village Gateway Tatum & Shea Blvd. S. | 85028 | SC | Fee | 1997/2004 | 2003 | 67% | 223,658 | $ | 4,487,381 | $ | 18.54 | 96.7% | Bed Bath & Beyond (2011), Ross Dress For Less (2012), PetSmart (2015), Staples (2010), Albertsons (2016) |
17
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
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Company- |
Average |
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Owned |
Base |
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Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
22
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Phoenix, AZ | Silver Creek Plaza 4710 E. Ray Road | 85044 | MV | Fee | 1994 | 2005 | 50% | 76,214 | $ | 872,896 | $ | 11.45 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
23
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Tucson, AZ |
Santa Cruz Plaza 3660 South 16th Avenue |
85713 | MV | Fee | 1982 | 2005 | 50% | 76,126 | $ | 523,321 | $ | 6.87 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
Arkansas | ||||||||||||||||||||||||||||||||||||||||||
24
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Fayetteville, AR |
Spring Creek Centre 464 E. Joyce Boulevard |
72703 | SC | Fee (3 | ) |
1997/1999/ 2000/2001 |
1997 | 14.5% | 262,827 | $ | 3,024,078 | $ | 11.82 | 97.4% | T.J. Maxx (2011), Best Buy (2017), Goodys (2013), Old Navy (2010), Bed Bath & Beyond (2009), Home Depot (Not Owned), Wal-Mart Super Center (Not Owned) | ||||||||||||||||||||||||||
25
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Fayetteville, AR |
Steele Crossing 3533-3595 N. Shiloh Dr. |
72703 | SC | Fee (3 | ) | 2003 | 2003 | 14.5% | 50,314 | $ | 1,020,076 | $ | 14.69 | 100% | Kohls (2022), Target (Not Owned) | ||||||||||||||||||||||||||
26
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N. Little Rock, AR |
McCain Plaza 4124 East McCain Boulevard |
72117 | SC | Fee | 1991/2004 | 1994 | 100% | 295,013 | $ | 1,930,229 | $ | 6.96 | 94% | Bed Bath & Beyond (2013), T.J. Maxx (2009), Cinemark (2011), Burlington Coat Factory (2014), Michaels (2014), Sports Authority (2013) | |||||||||||||||||||||||||||
27
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Russellville, AR |
Valley Park Centre 3093 East Main Street |
72801 | SC | Fee | 1992 | 1994 | 100% | 266,539 | $ | 1,637,524 | $ | 6.57 | 93.5% | Hobby Lobby (2016), Stage (2010), JCPenney (2012), Belk (2021) | |||||||||||||||||||||||||||
Brazil | ||||||||||||||||||||||||||||||||||||||||||
28
|
Brasilia | Patio Brasil Shopping Scs Quadra 07 Bl A | 70307-902 | MM | Fee | 1997/2001 | 2006 | 4.85% | 330,025 | $ | 12,160,862 | $ | 37.30 | 98.8% | Lojas Americanas (2999), Otoch (2007), Riachuelo (2017), Renner (2011), Centauro (2007), C&A (Not Owned) | |||||||||||||||||||||||||||
29
|
Campinas | Parque Dom Pedro Av. Guilherme Campos, 500 | 01387-001 | MM | Fee | 2001 | 2006 | 48.27% | 1,370,568 | $ | 25,351,073 | $ | 19.06 | 97.1% | Republique Veiculos (2011), Lojas Americanas (2014), Casas Bahia (2011), Centauro (2012), Pet Center Marginal (2010), Marisa (2016), Star Bowling (2007), Big (2017), Etna (2015), Alpini Veiculos (2012), Ventuno Multimarcas (2012), Pernambucanas (2012), Formula Academia (2014), Riachuelo (2012), Zara (2014), Renner (2014), Fnac (2012), Multiplex P.D.Pedro (2012), Center Lider (2009), C&A (Not Owned) | |||||||||||||||||||||||||||
30
|
Estrada Do Campo Limpo | Campo Limpo Shopping Estrada Do Campo Limpo 459 | 05777-001 | MM | Fee | 2005 | 2006 | 9.32% | 217,230 | $ | 3,289,720 | $ | 16.42 | 92.2% | C&A (2016), Marisa (2016), Compre Bem (2012), Casas Bahia (2011) |
18
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
31
|
Franca | Franca Shopping Av. Rio Negro, 1100 | 14406-901 | MM | Fee | 1993 | 2006 | 30.06% | 195,976 | $ | 1,716,986 | $ | 9.91 | 88.4% | C&A (2016), Casas Bahia (2009), Magazine Luiza (2010), Lojas Americanas (2014), C&C (2011) | |||||||||||||||||||||||||||
32
|
Sao Bernardo Do Campo | Shopping Metropole Praca Samuel Sabatine, 200 | 09750-902 | MM | Fee | 1980/95/97 | 2006 | 4.66% | 277,393 | $ | 8,405,690 | $ | 35.58 | 85.2% | Lojas Americanas (2008), Renner (2008) | |||||||||||||||||||||||||||
33
|
Sao Paulo | Boavista Shopping Rua Borba Gato, 59 | 04747-030 | MM | Fee | 2004 | 2006 | 46.61% | 279,039 | $ | 3,484,814 | $ | 13.55 | 92.2% | C&A (2014), Marisa & Familia (2014), Americanas Express (2017), Sonda (2999) | |||||||||||||||||||||||||||
34
|
Sao Paulo |
Shopping Penha Rua Dr. Joao Ribeiro, 304 |
03634-010 | MM | Fee | 1992/2004 | 2006 | 34.1% | 323,509 | $ | 6,142,445 | $ | 20.11 | 94.4% | Marisa (2017), Sonda (2014), Lojas Americanas (2013), Kalunga (2010), C&A (2014) | |||||||||||||||||||||||||||
35
|
Sao Paulo |
Plaza Sul Praca Leonor Kaupa |
04151-100 | MM | Fee | 1994 | 2006 | 9.32% | 255,299 | $ | 8,314,502 | $ | 35.05 | 92.9% | Lojas Americanas (2011), Luigi Bertolli (2007), Camicado (2010), Monday Academia (2009), Renner (2010), C&A (Not Owned) | |||||||||||||||||||||||||||
36
|
Sao Paulo | Tivoli Shopping Av. Santa Barbara, 777 | 13456-080 | MM | Fee | 1993/2006 | 2006 | 11.65% | 234,167 | $ | 2,967,741 | $ | 12.89 | 98.4% | Lojas Americanas (2014), Unimed (2010), Magazine Luiza (2008), C&A (2016), C&C (2011), Paulistao (2016) | |||||||||||||||||||||||||||
California | ||||||||||||||||||||||||||||||||||||||||||
37
|
Anaheim, CA |
Anaheim Hills Festival Center 8100 E Santa Canyon Road |
92808 | MV | Fee | 1992 | 2005 | 50% | 77,883 | $ | 1,327,550 | $ | 17.05 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
38
|
Antioch, CA |
County East Shopping Center 2602 Somersville Road |
94509 | MV | Fee | 1970 | 2005 | 50% | 75,339 | $ | 1,204,783 | $ | 15.99 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
39
|
Buena Park, CA |
Buena Park Mall and Entertain 100 Buena Park |
90620 | SC | Fee (3 | ) | 1965 | 2004 | 20% | 724,041 | $ | 9,689,616 | $ | 16.80 | 78.4% | Circuit City (2018), DSW Shoe Warehouse (2013), Ross Dress For Less (2010), Bed Bath & Beyond (2011), Steve & Barrys (2014), 24 Hour Fitness (2022), Kohls (2024), Krikorian Premier Theatres (2023), Michaels (2014), Sears (Not Owned), Wal-Mart (Not Owned) | ||||||||||||||||||||||||||
40
|
Burbank, CA |
Burbank Town Center 245 E Magnolia Blvd. |
91502 | MV | GL | 1991 | 2005 | 50% | 89,182 | $ | 1,657,357 | $ | 18.58 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
41
|
Chino, CA |
Chino Town Square Shopping 5517 Philadelphia |
91710 | MV | Fee | 1986 | 2005 | 50% | 81,282 | $ | 887,461 | $ | 10.92 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
42
|
Clovis, CA |
Sierra Vista Mall 1000 Shaw Avenue |
93612 | MV | GL | 1988 | 2005 | 50% | 75,088 | $ | 728,280 | $ | 9.70 | 100% | Mervyns (2020) |
19
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
43
|
Culver City, CA |
Circuit City - Culver City 5660 Sepulveda Blvd. |
90230 | SC | Fee | 1998 | 2007 | 100% | 32,873 | $ | 680,062 | $ | 20.69 | 100% | Circuit City (2018) | |||||||||||||||||||||||||||
44
|
El Cajon, CA | Westfield Shopping Town 565 Fletcher Parkway | 92020 | MV | GL | 1989 | 2005 | 50% | 85,744 | $ | 1,278,652 | $ | 14.91 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
45
|
Fairfield, CA |
Westfield Solano Mall 1451 Gateway Blvd. |
94533 | MV | Fee | 1981 | 2005 | 50% | 89,223 | $ | 1,658,388 | $ | 18.59 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
46
|
Folsom, CA |
Folsom Square 1010 E. Bidwell Street |
95630 | MV | Fee | 2003 | 2005 | 50% | 79,080 | $ | 1,177,733 | $ | 14.89 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
47
|
Foothill Ranch, CA |
Foothills Ranch Town Centre 26732 Portola Parkway |
92610 | MV | Fee | 1993 | 2005 | 50% | 77,934 | $ | 1,071,612 | $ | 13.75 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
48
|
Garden Grove, CA |
Garden Grove Center 13092 Harbor Blvd. |
92843 | MV | Fee | 1982 | 2005 | 50% | 83,746 | $ | 767,815 | $ | 9.17 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
49
|
Lancaster, CA |
Valley Central - Discount 44707-44765 Valley Central Way |
93536 | SC | Fee (3 | ) | 1990 | 2000 | 20% | 353,483 | $ | 3,204,854 | $ | 13.89 | 65.3% | Marshalls (2012), Circuit City (2011), Staples (2008), Cinemark (2017), 99 Cents Only (2014), Costco (Not Owned) | ||||||||||||||||||||||||||
50
|
Lompac, CA |
Mission Plaza 1600 North H Street |
93436 | MV | Fee | 1992 | 2005 | 50% | 62,523 | $ | 357,898 | $ | 5.72 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
51
|
Long Beach, CA |
The Pike 95 South Pine Ave. |
90802 | SC | GL | 2005 | 1 | * | 100% | 275,911 | $ | 4,256,810 | $ | 14.65 | 92.9% | Cinemark (2008), Borders (2016), Club V2O (2019) | ||||||||||||||||||||||||||
52
|
Madera, CA |
Madera 1467 Country Club Drive |
93638 | MV | Fee | 1990 | 2005 | 50% | 59,720 | $ | 204,959 | $ | 3.43 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
53
|
North Fullerton, CA |
North Fullerton 200 Imperial Highway |
92835 | MV | Fee | 1991 | 2005 | 50% | 76,360 | $ | 787,583 | $ | 10.31 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
54
|
Northridge, CA |
Northridge Plaza 8800 Corbin Ave. |
91324 | MV | GL | 1980 | 2005 | 50% | 75,326 | $ | 553,493 | $ | 7.35 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
55
|
Oceanside, CA |
Ocean Place Cinemas 401-409 Mission Avenue |
92054 | SC | Fee | 2000 | 2000 | 100% | 79,775 | $ | 1,263,675 | $ | 16.47 | 96.2% | Regal Cinemas (2014) | |||||||||||||||||||||||||||
56
|
Palmdale, CA |
Antelope Valley Mall 1305 W Rancho Vista Blvd. |
93551 | MV | Fee | 1992 | 2005 | 50% | 76,550 | $ | 845,845 | $ | 11.05 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
57
|
Pasadena, CA |
Paseo Colorado 280 East Colorado Blvd. |
91101 | LC | Fee | 2001 | 2003 | 100% | 556,961 | $ | 11,761,483 | $ | 22.21 | 95.1% | Gelsons Market (2021), Loehmanns (2015), Equinox (2017), Macys (2010), Pacific Theatres (2016), DSW Shoe Warehouse (2011), J.Jill (2012), P.F. Changs China Bistro (2016), Bombay Company (2011), Tommy Bahama (2011), Sephora (2011) | |||||||||||||||||||||||||||
58
|
Pleasant Hill, CA |
Downtown Pleasant Hill 2255 Contra Costa Blvd. #101 |
94523 | SC | Fee (3 | ) | 1999/2000 | 2001 | 20% | 345,930 | $ | 6,938,208 | $ | 20.77 | 96.6% | Save Mart (2020), Michaels (2010), Borders (2015), Ross Dress For Less (2010), Bed Bath & Beyond (2010), Century Theatres (2016) |
20
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
59
|
Porterville, CA |
Porterville Market Place 1275 West Henderson Avenue |
93257 | MV | Fee | 1991 | 2005 | 50% | 76,378 | $ | 525,402 | $ | 6.88 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
60
|
Redding, CA |
Shasta Center 1755 Hilltop Drive |
96002 | MV | Fee | 1984 | 2005 | 50% | 61,363 | $ | 632,563 | $ | 10.31 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
61
|
Richmond, CA |
Hilltop Plaza 3401 Blume Drive |
94803 | SC | Fee (3 | ) | 1996/2000 | 2002 | 20% | 245,774 | $ | 3,788,040 | $ | 15.78 | 97.7% | Office Max (2011), PetSmart (2012), Ross Dress For Less (2013), Barnes & Noble (2011), Circuit City (2017), Century Theatres (2016) | ||||||||||||||||||||||||||
62
|
San Diego, CA |
Southland Plaza Shopping 575 Saturn Blvd. |
92154 | MV | Fee | 1982 | 2005 | 50% | 75,207 | $ | 1,034,158 | $ | 13.75 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
63
|
San Diego, CA |
College Grove Shopping Center 3450 College Avenue |
92115 | MV | Fee | 1991 | 2005 | 50% | 73,872 | $ | 863,505 | $ | 11.69 | 100% | Mervyns (2021) | |||||||||||||||||||||||||||
64
|
San Francisco, CA |
Van Ness Plaza 215 1000 Van Ness Avenue |
94109 | SC | Fee | 1998 | 2002 | 100% | 123,755 | $ | 3,797,368 | $ | 36.79 | 83.4% | AMC Theatres (2030), Crunch Fitness (2008) | |||||||||||||||||||||||||||
65
|
Santa Maria, CA |
Town Center West 201 Town Center West |
93458 | MV | Fee | 1988 | 2005 | 50% | 84,886 | $ | 778,219 | $ | 9.17 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
66
|
Santa Rosa, CA |
Santa Rosa Plaza 600 Santa Rosa Plaza |
95401 | MV | Fee | 1981 | 2005 | 50% | 90,348 | $ | 1,557,479 | $ | 17.24 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
67
|
Slatten Ranch, CA |
Slatten Ranch Shopping Center 5849 Lone Tree Way |
94531 | MV | Fee | 2002 | 2005 | 50% | 78,819 | $ | 1,354,601 | $ | 17.19 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
68
|
Sonora, CA |
Sonora Crossroad Shopping 1151 Sanguinetti Road |
95370 | MV | Fee | 1993 | 2005 | 50% | 62,214 | $ | 748,048 | $ | 12.02 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
69
|
Tulare, CA |
Arbor Faire Shopping Center 1675 Hillman Street |
93274 | MV | Fee | 1991 | 2005 | 50% | 62,947 | $ | 577,422 | $ | 9.17 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
70
|
Ukiah, CA |
Ukiah 437 North Orchard Avenue |
95482 | MV | Fee | 1990 | 2005 | 50% | 58,841 | $ | 337,090 | $ | 5.73 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
71
|
Valencia, CA |
Mervyns Valencia 24235 Magic Mountain Pky. |
91355 | SC | GL | 1986 | 2006 | 100% | 75,590 | $ | 970,020 | $ | 12.83 | 100% | Mervyns (2035) | |||||||||||||||||||||||||||
72
|
West Covina, CA |
West Covina Shopping Center 2753 E. Eastland Center Dr. |
91791 | MV | GL | 1979 | 2005 | 50% | 79,800 | $ | 1,576,206 | $ | 19.75 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
Colorado | ||||||||||||||||||||||||||||||||||||||||||
73
|
Aurora, CO |
Pioneer Hills 5400-5820 South Parker |
80012 | SC | Fee (3 | ) | 2003 | 2003 | 14.5% | 127,215 | $ | 2,469,816 | $ | 17.85 | 99% | Bed Bath & Beyond (2012), Office Depot (2017), Home Depot (Not Owned), Wal-Mart (Not Owned) | ||||||||||||||||||||||||||
74
|
Broomfield, CO |
Flatiron Marketplace Garden 1 West Flatiron Circle |
80021 | SC | Fee | 2001 | 2003 | 100% | 252,035 | $ | 4,913,435 | $ | 20.61 | 94.6% | Nordstrom Rack (2011), Linens N Things (2017), Best Buy (2016), Office Depot (2016), Great Indoors (Not Owned) |
21
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
75
|
Denver, CO |
Centennial Promenade 9555 E. County Line Road |
80223 | SC | Fee |
1997/ 2002 |
1997 | 100% | 408,337 | $ | 7,122,762 | $ | 17.50 | 99.7% | Golfsmith Golf Center (2012), Soundtrack (2017), Ross Dress For Less (2013), Office Max (2012), Michaels (2012), Toys R Us (2011), Borders (2017), Loehmanns (2012), Recreational Equipment (Not Owned), Home Depot (Not Owned) | |||||||||||||||||||||||||||
76
|
Denver, CO |
Tamarac Square 7777 E. Hampden |
80231 | SC | Fee | 1976 | 2001 | 100% | 174,780 | $ | 2,036,135 | $ | 13.51 | 74.5% | Regency Theatres Tamarac Square (2008) | |||||||||||||||||||||||||||
77
|
Denver, CO |
University Hills 2730 South Colorado Boulevard |
80222 | SC | Fee | 1997 | 2003 | 100% | 244,383 | $ | 4,291,643 | $ | 17.56 | 100% | Linens N Things (2013), Pier 1 Imports (2014), Office Max (2012), 24 Hour Fitness (2021), King Soopers (2017) | |||||||||||||||||||||||||||
78
|
Fort Collins, CO |
Mulberry & Lemay Crossings Mulberry St. & S. Lemay Ave. |
80525 | SC | Fee | 2004 | 2003 | 100% | 18,988 | $ | 429,726 | $ | 22.63 | 100% | Wal-Mart (Not Owned), Home Depot (Not Owned) | |||||||||||||||||||||||||||
79
|
Highland Ranch, CO |
Circuit City - Highland Ranch 8575 South Quebec St. |
80130 | SC | Fee | 1998 | 2007 | 100% | 43,480 | $ | 443,625 | $ | 10.20 | 100% | Circuit City (2018) | |||||||||||||||||||||||||||
80
|
Littleton, CO |
Aspen Grove 7301 South Santa Fe |
80120 | LC | Fee | 2002 | 1 | * | 100% | 231,450 | $ | 6,184,680 | $ | 27.99 | 89.6% | Coldwater Creek (2011), Talbots (2012), Ann Taylor (2012), Banana Republic (2012), Gap (2012), Williams-Sonoma (2014), J.Jill (2012), Bombay Company (2012), Pier 1 Imports (2011), Joseph A. Bank Clothiers (2012), Buca di Beppo (2013), Champps (2022), Pottery Barn (2014) | ||||||||||||||||||||||||||
81
|
Parker, CO |
Parker Pavilions 11153-11183 South Parker Road |
80134 | SC | Fee (3 | ) | 2003 | 2003 | 14.5% | 89,631 | $ | 1,475,376 | $ | 18.48 | 83.6% | Office Depot (2016), Wal-Mart (Not Owned), Home Depot (Not Owned) | ||||||||||||||||||||||||||
82
|
Parker, CO |
Flatacres Marketcenter South Parker Road |
80134 | SC | GL (3 | ) | 2003 | 2003 | 14.5% | 116,644 | $ | 2,044,429 | $ | 14.96 | 100% | Bed Bath & Beyond (2014), Gart Sports (2014), Michaels (2013), Kohls (Not Owned) | ||||||||||||||||||||||||||
Connecticut | ||||||||||||||||||||||||||||||||||||||||||
83
|
Manchester, CT |
Manchester Broad Street 286 Broad Street |
06040 | SC | Fee |
1995/ 2003 |
2007 | 100% | 68,509 | $ | 1,019,564 | $ | 14.88 | 100% | Stop & Shop (2028) |
22
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
84
|
Plainville, CT |
Connecticut Commons I-84 & Rte. 9 |
06062 | SC | Fee (3 | ) |
1999/ 2001 |
1 | * | 14.5% | 463,338 | $ | 6,113,858 | $ | 11.89 | 93.9% | Lowes (2019), Loews Cinema (2019), Kohls (2022), DSW Shoe Warehouse (2015), Dicks Sporting Goods (2020), PetSmart (2015), A.C. Moore (2014), Old Navy (2011), Linens N Things (2017) | |||||||||||||||||||||||||
85
|
Waterbury, CT |
Naugatuck Valley Shopping Center 950 Wolcott Street |
06705 | SC | Fee (3 | ) | 2003 | 2007 | 15% | 232,085 | $ | 4,214,380 | $ | 16.83 | 91% | Wal-Mart (2027), Bobs Stores (2017), Linens N Things (2017), Stop & Shop (2021), Staples (2018) | ||||||||||||||||||||||||||
86
|
Windsor Court, CT |
Windsor Court Shopping Center 1095 Kennedy Road |
06095 | SC | Fee | 1993 | 2007 | 100% | 78,480 | $ | 1,367,383 | $ | 17.42 | 100% | Stop & Shop (2013) | |||||||||||||||||||||||||||
Florida | ||||||||||||||||||||||||||||||||||||||||||
87
|
Apopka, FL |
Piedmont Plaza 2302-2444 E Semoran Blvd. |
32703 | SC | Fee (3 | ) | 2004 | 2007 | 14.5% | 148,075 | $ | 1,099,498 | $ | 8.23 | 90.3% | Bealls (2019), Albertsons (Not Owned) | ||||||||||||||||||||||||||
88
|
Bayonet Point, FL |
Point Plaza US 19 & St. Rte. 52 |
34667 | SC | Fee |
1985/ 2003 |
1/2 | * | 100% | 209,714 | $ | 1,372,068 | $ | 6.54 | 100% | Publix Super Markets (2010), Bealls (2014), T.J. Maxx (2010) | ||||||||||||||||||||||||||
89
|
Boynton Beach, FL |
Meadows Square Hypoluxo Rd. N. Congress Ave. |
33461 | SC | Fee (3 | ) | 1986 | 2004 | 20% | 106,224 | $ | 1,344,228 | $ | 13.91 | 91% | Publix Super Markets (2011) | ||||||||||||||||||||||||||
90
|
Boynton Beach, FL |
Aberdeen Square 4966 Le Chalet Blvd. |
33426 | SC | Fee (3 | ) | 1990 | 2007 | 20% | 70,555 | $ | 680,775 | $ | 10.21 | 94.5% | Publix Super Markets (2010) | ||||||||||||||||||||||||||
91
|
Boynton Beach, FL |
Boynton Commons 333-399 Congress Ave. |
33426 | SC | Fee (3 | ) | 1998 | 2007 | 15% | 210,488 | $ | 3,102,856 | $ | 14.74 | 100% | Barnes & Noble (2013), PetSmart (2014), Sports Authority (2013), Bed Bath & Beyond (2014) | ||||||||||||||||||||||||||
92
|
Boynton Beach, FL |
Village Square at Golf 3775 W Woolbright Rd. |
33436 | SC | Fee (3 | ) | 1983/2002 | 2007 | 20% | 126,486 | $ | 1,835,845 | $ | 14.17 | 94.1% | Publix Super Markets (2008) | ||||||||||||||||||||||||||
93
|
Bradenton, FL |
Cortez Plaza Cortez Road West & US Highway 41 |
34207 | SC | Fee | 1966/1988 | 2007 | 100% | 289,045 | $ | 3,006,241 | $ | 10.66 | 97.6% | Publix Super Markets (2008), Burlington Coat Factory (2013), PetSmart (2012), Circuit City (2010) | |||||||||||||||||||||||||||
94
|
Bradenton, FL |
Creekwood Crossing 7395 52nd Place East |
34203 | SC | Fee (3 | ) | 2001 | 2007 | 20% | 180,746 | $ | 2,433,239 | $ | 11.74 | 98.2% | Bealls (2016), Bealls Outlet (2014), Lifestyle Family Fitness (2014), Macys Furniture & Matress Clearance Center (2009) | ||||||||||||||||||||||||||
95
|
Bradenton, FL |
Lakewood Ranch 1755 Lakewood Ranch Blvd. |
34211 | SC | Fee (3 | ) | 2001 | 2007 | 20% | 69,471 | $ | 940,562 | $ | 12.10 | 98.2% | Publix Super Markets (2021) | ||||||||||||||||||||||||||
96
|
Brandon, FL |
Brandon Blvd. Shoppes 1930 St. Rte. 60 E. |
33594 | SC | Fee | 1994 | 2007 | 100% | 85,377 | $ | 968,959 | $ | 11.73 | 96.8% | Publix Super Markets (2014) | |||||||||||||||||||||||||||
97
|
Brandon, FL |
Kmart Shopping Center 1602 Brandon Blvd. |
33511 | SC | GL |
1972/1997/ 2003 |
2 | * | 100% | 161,900 | $ | 792,708 | $ | 3.62 | 100% | Kmart (2012), Kane Furniture (2022) |
23
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
98
|
Brandon, FL |
Lake Brandon Plaza Causeway Boulevard |
33511 | SC | Fee (3 | ) | 1999 | 2003 | 14.5% | 148,267 | $ | 1,877,040 | $ | 11.71 | 99.1% | CompUSA (2017), Jo-Ann Stores (2017), Babies R Us (2013), Publix Super Markets (2019) | ||||||||||||||||||||||||||
99
|
Brandon, FL |
Lake Brandon Village Causeway Boulevard |
33511 | SC | Fee (3 | ) | 1997/2004 | 2003 | 14.5% | 113,986 | $ | 1,489,372 | $ | 13.07 | 100% | Linens N Things (2014), Sports Authority (2018), PetSmart (2020), Lowes (Not Owned) | ||||||||||||||||||||||||||
100
|
Brandon, FL |
Albertsons at Bloomingdale Hill 10817-10863 Bloomingdale Avenue |
33569 | SC | Fee | 2002 | 2007 | 100% | 17,400 | $ | 542,013 | $ | 20.43 | 98.9% | Albertsons (2027) | |||||||||||||||||||||||||||
101
|
Brandon, FL |
Shoppes of Lithia 3461 Lithia Pinecrest Road |
33594 | SC | Fee (3 | ) | 2003 | 2007 | 20% | 71,430 | $ | 1,071,490 | $ | 15.70 | 95.5% | Publix Super Markets (2023) | ||||||||||||||||||||||||||
102
|
Casselberry, FL |
Casselberry Commons 1455 S. Semoran Blvd. |
32707 | SC | Fee (3 | ) | 1973/1998 | 2007 | 20% | 233,176 | $ | 2,083,037 | $ | 8.82 | 88.7% | Publix Super Markets (2007), Ross Dress For Less (2013), Stein Mart (2015) | ||||||||||||||||||||||||||
103
|
Citrus Hills, FL |
Citrus Hills 2601 Forest Ridge Blvd. |
34442 | SC | Fee (3 | ) | 1994/2003 | 2007 | 20% | 68,927 | $ | 723,427 | $ | 10.50 | 100% | Publix Super Markets (2014) | ||||||||||||||||||||||||||
104
|
Clearwater, FL |
Clearwater Collection 21688-21800 US Hwy.19 North |
33765 | SC | Fee | 1995/2005 | 2007 | 100% | 132,023 | $ | 1,483,948 | $ | 12.57 | 89.4% | L.A. Fitness International (2022), Floor & Decor (2017) | |||||||||||||||||||||||||||
105
|
Crystal River, FL |
Crystal Springs Shopping Center 6760 W. Gulf to Lake |
34429 | SC | Fee (3 | ) | 2001 | 2007 | 20% | 66,986 | $ | 706,685 | $ | 11.10 | 95.1% | Publix Super Markets (2021) | ||||||||||||||||||||||||||
106
|
Crystal River, FL |
Crystal River Plaza 420 Sun Coast Hwy. |
33523 | SC | Fee | 1986/2001 | 1/2 | * | 100% | 169,149 | $ | 856,109 | $ | 7.58 | 66.8% | Bealls (2012), Bealls Outlet (2011) | ||||||||||||||||||||||||||
107
|
Dania Beach, FL |
Bass Pro Outdoor World 200 Gulf Stream Way |
33004 | SC | Fee | 1999 | 2007 | 100% | 165,000 | $ | 1,600,000 | $ | 9.70 | 100% | Bass Pro Outdoor World (2014) | |||||||||||||||||||||||||||
108
|
Dania, FL |
Sheridan Square 401-435 E. Sheridan Street |
33004 | SC | Fee (3 | ) | 1991 | 2007 | 20% | 67,475 | $ | 674,231 | $ | 10.38 | 96.2% | Publix Super Markets (2011) | ||||||||||||||||||||||||||
109
|
Davie, FL |
Paradise Promenade 5949-6029 Stirling Road |
33314 | SC | Fee (3 | ) | 2004 | 2007 | 20% | 74,493 | $ | 1,110,843 | $ | 15.98 | 93.3% | Publix Super Markets (2023) | ||||||||||||||||||||||||||
110
|
Daytona Beach, FL |
Volusia 1808 W. International Speedway Parkway |
32114 | SC | Fee | 1984 | 2001 | 100% | 76,087 | $ | 958,274 | $ | 13.25 | 95.1% | Marshalls (2010) | |||||||||||||||||||||||||||
111
|
Daytona Beach, FL | KB Homes 1610 W. International Speedway Parkway | 32114 | SC | Fee | 1998 | 2007 | 100% | 22,255 | $ | 270,264 | $ | 12.14 | 100% | KB Homes (2010) | |||||||||||||||||||||||||||
112
|
Daytona Beach, FL | PetSmart - Daytona Beach 1900 W. International Speedway Parkway | 32114 | SC | Fee | 1996 | 2007 | 100% | 26,194 | $ | 359,664 | $ | 13.73 | 100% | PetSmart (2021) | |||||||||||||||||||||||||||
113
|
Deerfield Beach, FL | Hillsboro Square Hillsboro Blvd. & Highway One | 33441 | SC | Fee (3 | ) | 1978/2002 | 2007 | 15% | 145,472 | $ | 1,893,233 | $ | 15.11 | 86.1% | Publix Super Markets (2022) |
24
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
114
|
Englewood, FL |
Rotonda Plaza 5855 Placida Road |
34224 | SC | Fee | 1991 | 2004 | 100% | 46,835 | $ | 457,844 | $ | 10.08 | 97.0% | Kash n Karry (2011) | |||||||||||||||||||||||||||
115
|
Ft. Meyers, FL |
Market Place 13300 South Cleveland Avenue |
33919 | SC | Fee (3 | ) | 2004 | 2007 | 15% | 107,179 | $ | 1,707,626 | $ | 14.44 | 100% | American Signature (2014), Total Wine & More (2016), DSW Shoe Warehouse (2016), Target (Not Owned) | ||||||||||||||||||||||||||
116
|
Ft. Meyers, FL |
Cypress Trace Cypress Lake Drive & US 41 |
33907 | SC | Fee (3 | ) | 2004 | 2007 | 15% | 276,288 | $ | 2,714,443 | $ | 9.89 | 99.3% | Bealls (2010), Stein Mart (2013), Bealls Outlet (2010), Ross Dress For Less (2012) | ||||||||||||||||||||||||||
117
|
Ft. Walton Beach, FL | Shoppes at Paradise Pointe US Hwy. 98 & Perry Ave. | 32548 | SC | Fee (3 | ) | 1987/2000 | 2007 | 20% | 83,929 | $ | 1,067,679 | $ | 13.14 | 96.8% | Publix Super Markets (2021) | ||||||||||||||||||||||||||
118
|
Gulf Breeze, FL | Gulf Breeze Marketplace 3749-3767 Gulf Breeze Parkway | 32561 | SC | Fee | 1998 | 2003 | 100% | 29,827 | $ | 480,996 | $ | 16.13 | 100% | Wal-Mart (Not Owned), Lowes (Not Owned) | |||||||||||||||||||||||||||
119
|
Hialeah, FL |
Paraiso Plaza 3300-3350 W. 80th St. |
33018 | SC | Fee (3 | ) | 1997 | 2007 | 20% | 60,712 | $ | 756,209 | $ | 13.82 | 90.1% | Publix Super Markets (2017) | ||||||||||||||||||||||||||
120
|
Jacksonville, FL |
Jacksonville Regional 3000 Dunn Avenue |
32218 | SC | Fee | 1988 | 1995 | 100% | 219,735 | $ | 1,300,420 | $ | 6.65 | 88.9% | JCPenney (2012), Winn Dixie Stores (2009) | |||||||||||||||||||||||||||
121
|
Jacksonville, FL |
Arlington Road Plaza 926 Arlington Road |
32211 | SC | Fee | 1990/1999 | 2004 | 100% | 182,098 | $ | 709,747 | $ | 7.06 | 55.2% | Food Lion (2010) | |||||||||||||||||||||||||||
122
|
Kissimmee, FL | CVS Pharmacy #5040-01 3300 S. Orange Blossom Trail | 34746 | SC | Fee | 1997 | 2007 | 100% | 9,504 | $ | 220,316 | $ | 23.18 | 100% | ||||||||||||||||||||||||||||
123
|
Lake Mary, FL | Shoppes at Lake Mary 4155 West Lake Mary Blvd. | 32746 | SC | Fee (3 | ) | 2001 | 2007 | 15% | 73,343 | $ | 1,450,750 | $ | 20.24 | 96.8% | Staples (2015) | ||||||||||||||||||||||||||
124
|
Lake Wales, FL | Shoppes on the Ridge Highway 27 & Chalet Suzanne Road | 33859 | SC | Fee (3 | ) | 2003 | 2007 | 20% | 115,671 | $ | 1,258,382 | $ | 12.64 | 86.1% | Publix Super Markets (2023) | ||||||||||||||||||||||||||
125
|
Lakeland, FL |
Highlands Plaza Shopping Ctr 2228 Lakelands Highland Road |
33803 | SC | Fee | 1990 | 2004 | 100% | 102,572 | $ | 832,132 | $ | 8.70 | 93.2% | Winn Dixie Stores (2017) | |||||||||||||||||||||||||||
126
|
Largo, FL |
Colonial Promenade Bardmoor Center 10801 Starkey Road |
33777 | SC | Fee (3 | ) | 1991 | 2007 | 20% | 152,667 | $ | 1,910,208 | $ | 12.43 | 99.3% | Publix Super Markets (2011) | ||||||||||||||||||||||||||
127
|
Lauderhill, FL |
Universal Plaza 7730 West Commercial |
33351 | SC | Fee (3 | ) | 2002 | 2007 | 15% | 49,505 | $ | 1,075,616 | $ | 22.83 | 95.2% | Target (Not Owned) | ||||||||||||||||||||||||||
128
|
Melbourne, FL | Melbourne Shopping Center 1301-1441 S Babcock | 32901 | SC | Fee (3 | ) | 1960/1999 | 2007 | 20% | 204,217 | $ | 1,405,454 | $ | 6.72 | 98.6% | Big Lots (2009), Publix Super Markets (2019) | ||||||||||||||||||||||||||
129
|
Miami, FL | The Shops of Midtown 3401 N. Miami Avenue | 33127 | SC | Fee | 2006 | 1 | * | 100% | 235,884 | $ | 5,428,307 | $ | 19.73 | 100% | Circuit City (2022), Linens N Things (2017), Loehmanns (2018), Marshalls (2017), Ross Dress For Less (2018), Target (2027), West Elm (2019) |
25
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
130
|
Miami, FL |
Plaza Del Paraiso 12100 SW 127th Ave. |
33186 | SC | Fee (3 | ) | 2003 | 2007 | 20% | 82,441 | $ | 1,139,682 | $ | 13.08 | 93.4% | Publix Super Markets (2023) | ||||||||||||||||||||||||||
131
|
Miramar, FL |
River Run Miramar Parkway & Palm Avenue |
33025 | SC | Fee (3 | ) | 1989 | 2007 | 20% | 93,643 | $ | 1,085,532 | $ | 12.30 | 94.3% | Publix Super Markets (2009) | ||||||||||||||||||||||||||
132
|
Naples, FL |
Carillon Place 5010 Airport Road North |
33942 | SC | Fee (3 | ) | 1994 | 1995 | 14.50% | 267,796 | $ | 3,343,323 | $ | 12.48 | 100% | Wal-Mart (2014), T.J. Maxx (2009), Circuit City (2015), Ross Dress For Less (2010), Bealls (2009), Office Max (2010) | ||||||||||||||||||||||||||
133
|
Naples, FL |
Countryside 4025 Santa Barbara |
34104 | SC | Fee (3 | ) | 1997 | 2007 | 20% | 73,986 | $ | 820,289 | $ | 11.27 | 98.4% | Winn Dixie Stores (2017) | ||||||||||||||||||||||||||
134
|
New Tampa, FL | New Tampa Commons Bruce B Downs & Donna Michelle | 33647 | SC | Fee | 2005 | 2007 | 100% | 10,000 | $ | 331,360 | $ | 33.14 | 100% | ||||||||||||||||||||||||||||
135
|
Newport Richey, FL | Shoppes of Golden Acres 9750 Little Road | 34654 | SC | Fee (3 | ) | 2002 | 2007 | 20% | 130,609 | $ | 1,479,415 | $ | 14.24 | 79.5% | Publix Super Markets (2022) | ||||||||||||||||||||||||||
136
|
Ocala, FL |
Steeplechase Plaza 8585 State Road 200 |
34481 | SC | Fee | 1993 | 2007 | 100% | 92,180 | $ | 1,009,529 | $ | 10.95 | 100% | Publix Super Markets (2013) | |||||||||||||||||||||||||||
137
|
Ocala, FL |
Ocala West 2400 SW. College Road |
32674 | SC | Fee | 1991 | 2003 | 100% | 105,276 | $ | 858,132 | $ | 8.22 | 99.1% | Sports Authority (2012), Hobby Lobby (2016) | |||||||||||||||||||||||||||
138
|
Ocoee, FL | West Oaks Towne Center 9537-49 W. Colonial | 34761 | SC | Fee (3 | ) | 2000 | 2007 | 20% | 66,539 | $ | 1,151,462 | $ | 18.18 | 95.2% | Michaels (2010) | ||||||||||||||||||||||||||
139
|
Orange Park, FL | The Village Shopping Center 950 Blanding Boulevard | 32065 | SC | Fee | 1993/2000 | 2004 | 100% | 72,531 | $ | 707,251 | $ | 9.75 | 100% | Bealls (2009), Albertsons (Not Owned) | |||||||||||||||||||||||||||
140
|
Orlando, FL |
Chickasaw Trails Shopping Center 2300 S. Chickasaw Trail |
32825 | SC | Fee (3 | ) | 1994 | 2007 | 20% | 75,492 | $ | 899,371 | $ | 12.11 | 98.4% | Publix Super Markets (2014) | ||||||||||||||||||||||||||
141
|
Orlando, FL |
Circuit City Plaza Good Homes Road & Colonial Drive |
32818 | SC | Fee (3 | ) | 1999 | 2007 | 15% | 78,625 | $ | 1,055,384 | $ | 15.29 | 87.8% | Staples (2015), Circuit City (2020) | ||||||||||||||||||||||||||
142
|
Orlando, FL |
Conway Plaza 4400 Curry Ford Road |
32812 | SC | Fee (3 | ) | 1985/1999 | 2007 | 20% | 117,723 | $ | 1,155,759 | $ | 9.82 | 100% | Publix Super Markets (2019) | ||||||||||||||||||||||||||
143
|
Orlando, FL |
Sand Lake Corners 8111-8481 John Young Parkway |
32819 | SC | Fee (3 | ) | 1998/2000 | 2007 | 15% | 197,716 | $ | 2,479,337 | $ | 12.95 | 96.9% | Lowes (Not Owned), Wal-Mart (Not Owned) | ||||||||||||||||||||||||||
144
|
Orlando, FL |
Skyview Plaza 7801 Orange Blossom Trail |
32809 | SC | Fee (3 | ) | 1994/1998 | 2007 | 20% | 281,244 | $ | 2,504,712 | $ | 9.20 | 96.8% | Publix Super Markets (2013), Office Depot (2008), Kmart (2009), Circuit City (2008) | ||||||||||||||||||||||||||
145
|
Ormond Beach, FL | Ormond Towne Square 1458 West Granada Blvd. | 32174 | SC | Fee | 1993 | 1994 | 100% | 234,042 | $ | 1,969,984 | $ | 8.81 | 95.5% | Bealls (2018), Ross Dress For Less (2016), Publix Super Markets (2013) |
26
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
146
|
Oviedo, FL |
Oviedo Park Crossing Rte. 417 & Red Bug Lake Road |
32765 | SC | Fee (3 | ) | 1999 | 1 | * | 20% | 186,212 | $ | 2,026,466 | $ | 10.88 | 100% | Office Max (2014), Ross Dress For Less (2010), Michaels (2009), T.J. Maxx (2010), Linens N Things (2011), Lowes (Not Owned) | |||||||||||||||||||||||||
147
|
Palm Beach Gardens, FL | Northlake Commons Northlake Blvd. | 33403 | SC | Fee (3 | ) | 1987/2003 | 2007 | 20% | 146,816 | $ | 1,728,597 | $ | 16.82 | 70% | Ross Dress For Less (2014), Home Depot (Not Owned) | ||||||||||||||||||||||||||
148
|
Palm Harbor, FL | The Shoppes of Boot Ranch 300 East Lake Road | 34685 | SC | Fee | 1990 | 1995 | 100% | 52,395 | $ | 934,869 | $ | 18.88 | 94.5% | Target (Not Owned), Albertsons (Not Owned) | |||||||||||||||||||||||||||
149
|
Palm Harbor, FL | Publix Brooker Creek 36301 E. Lake Road | 34685 | SC | Fee (3 | ) | 1994 | 2007 | 20% | 77,596 | $ | 890,627 | $ | 11.59 | 99% | Publix Super Markets (2014) | ||||||||||||||||||||||||||
150
|
Pembroke Pines, FL |
Flamingo Falls 2000-2216 N. Flamingo Road |
33028 | SC | Fee (3 | ) | 2001 | 2007 | 20% | 108,565 | $ | 2,205,308 | $ | 21.91 | 92.7% | |||||||||||||||||||||||||||
151
|
Pensacola, FL |
Palafox Square 8934 Pensacola Blvd. |
32534 | SC | Fee |
1988/1997/ 1999 |
1/2 | * | 100% | 17,150 | $ | 246,347 | $ | 14.36 | 100% | Wal-Mart (Not Owned) | ||||||||||||||||||||||||||
152
|
Plant City, FL |
Plant City Crossing SWC of Interstate 4 & Thonotosassa Road |
33563 | SC | Fee | 2001 | 2007 | 100% | 85,252 | $ | 983,204 | $ | 11.94 | 96.6% | Publix Super Markets (2021) | |||||||||||||||||||||||||||
153
|
Plant City, FL |
Lake Walden Square 105-240 W. Alexander |
33566 | SC | Fee (3 | ) | 1992 | 2007 | 14.5% | 132,448 | $ | 1,333,252 | $ | 10.07 | 100% | Kash n Karry (2012) | ||||||||||||||||||||||||||
154
|
Plantation, FL |
Fountains 801 South University Drive |
33324 | SC | Fee | 1989 | 2007 | 100% | 200,860 | $ | 3,568,138 | $ | 18.58 | 93.8% | Marshalls (2009) | |||||||||||||||||||||||||||
155
|
Plantation, FL |
Vision Works 801 South University Drive |
33324 | SC | Fee | 1989 | 2007 | 100% | 6,891 | $ | 159,170 | $ | 23.10 | 100% | ||||||||||||||||||||||||||||
156
|
Santa Rosa, FL |
Watercolor Crossing 110 Watercolor Way |
32459 | SC | Fee (3 | ) | 2003 | 2007 | 20% | 43,200 | $ | 637,979 | $ | 15.64 | 94.4% | Publix Super Markets (2024) | ||||||||||||||||||||||||||
157
|
Sarasota, FL |
Sarasota Pavilion 6511 Tamaimi Trail |
34231 | SC | Fee (3 | ) | 1999 | 2007 | 15% | 324,985 | $ | 3,895,467 | $ | 11.91 | 98.8% | Stein Mart (2009), Publix Super Markets (2010), Michaels (2009), Old Navy (2010), Marshalls (2013), Bed Bath & Beyond (2015), Ross Dress For Less (2012), Books-A-Million (2011) | ||||||||||||||||||||||||||
158
|
Silver Springs Shores, FL |
Heather Island Plaza 7878 SE. Maricamp |
34472 | SC | Fee (3 | ) | 2005 | 2007 | 20% | 70,970 | $ | 726,821 | $ | 10.42 | 98.3% | Publix Super Markets (2020) | ||||||||||||||||||||||||||
159
|
Spring Hill, FL |
Mariner Square 13050 Cortez Blvd. |
34613 | SC | Fee | 1988/1997 | 1/2 | * | 100% | 188,347 | $ | 1,643,724 | $ | 8.57 | 98.8% | Bealls (2011), Ross Dress For Less (2014), Wal-Mart (Not Owned) | ||||||||||||||||||||||||||
160
|
St. Petersburg, FL | Gateway Market Center 7751-8299 9th St. N. | 33702 | SC | Fee (3 | ) | 2000 | 2007 | 15% | 231,106 | $ | 2,042,795 | $ | 9.29 | 95.1% | T.J. Maxx (2008), Publix Super Markets (2019), Bealls (2021), PetSmart (2013), Office Depot (2014), Target (Not Owned) |
27
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
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Company- |
Average |
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Owned |
Base |
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Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
161
|
Tallahassee, FL |
Capital West 4330 West Tennessee Street |
32312 | SC | Fee | 1994/2004 | 2003 | 100% | 79,451 | $ | 642,018 | $ | 8.08 | 100% | Bealls Outlet (2009), Wal-Mart (Not Owned) | |||||||||||||||||||||||||||
162
|
Tallahassee, FL | Killearn Shopping Center 3479-99 Thomasville Road | 32309 | SC | Fee (3 | ) | 1980 | 2007 | 20% | 95,229 | $ | 1,019,024 | $ | 10.94 | 97.8% | Publix Super Markets (2011) | ||||||||||||||||||||||||||
163
|
Tallahassee, FL |
Southwood Plantation Nwc Capital Circle & Blairstone Road |
32301 | SC | Fee (3 | ) | 2003 | 2007 | 20% | 62,840 | $ | 772,412 | $ | 12.53 | 98.1% | Publix Super Markets (2023) | ||||||||||||||||||||||||||
164
|
Tamarac, FL |
Midway Plaza University Dr. & Commercial Blvd. |
33321 | SC | Fee (3 | ) | 1985 | 2007 | 20% | 227,209 | $ | 2,774,653 | $ | 12.54 | 97.4% | Ross Dress For Less (2013), Publix Super Markets (2011) | ||||||||||||||||||||||||||
165
|
Tampa, FL |
North Pointe Plaza 15001-15233 North Dale Mabry |
33618 | SC | Fee (3 | ) | 1990 | 1/2 | * | 20% | 104,460 | $ | 1,286,773 | $ | 12.81 | 96.2% | Publix Super Markets (2010), Wal-Mart(Not Owned) | |||||||||||||||||||||||||
166
|
Tampa, FL |
Walks At Highwood Preserve I 18001 Highwoods Preserve Parkway |
33647 | SC | Fee (3 | ) | 2001 | 2007 | 15% | 169,081 | $ | 3,258,488 | $ | 19.27 | 100% | Michaels (2012), Linens N Things (2017), Circuit City (2017) | ||||||||||||||||||||||||||
167
|
Tampa, FL |
Town N Country 7021-7091 West Waters Avenue |
33634 | SC | Fee | 1990 | 1/2 | * | 100% | 132,993 | $ | 966,943 | $ | 9.62 | 75.5% | Kash n Karry (2010), Wal-Mart (Not Owned) | ||||||||||||||||||||||||||
168
|
Tarpon Springs, FL |
Tarpon Square 41232 U.S. 19, North |
34689 | SC | Fee | 1974/1998 | 1/2 | * | 100% | 198,797 | $ | 1,417,546 | $ | 6.83 | 100% | Kmart (2009), Big Lots (2012), Staples (2013) | ||||||||||||||||||||||||||
169
|
Tequesta, FL | Tequesta Shoppes Plaza 105 N. US Hwy. 1 | 33469 | SC | Fee | 1986 | 2007 | 100% | 109,760 | $ | 995,563 | $ | 10.14 | 89.5% | Stein Mart (2017) | |||||||||||||||||||||||||||
170
|
Vero Beach, FL | Circuit City - Vero Beach 6560 20th Street | 32966 | SC | Fee | 2001 | 2007 | 100% | 33,243 | $ | 530,000 | $ | 15.94 | 100% | Circuit City (2021) | |||||||||||||||||||||||||||
171
|
Wesley Chapel, FL |
Shoppes at New Tampa 1920 County Road 581 |
33543 | SC | Fee (3 | ) | 2002 | 2007 | 20% | 158,222 | $ | 1,868,473 | $ | 12.47 | 94.7% | Publix Super Markets (2022), Bealls (2017) | ||||||||||||||||||||||||||
172
|
West Palm Beach, FL | Paradise Place 4075 N. Haverhill Rd. | 33417 | SC | Fee (3 | ) | 2003 | 2007 | 15% | 89,120 | $ | 1,041,849 | $ | 11.69 | 100% | Publix Super Markets (2023) | ||||||||||||||||||||||||||
173
|
Winter Park, FL |
Winter Park Palms 4270 Aloma Avenue |
32792 | SC | Fee (3 | ) | 1985/1998 | 2007 | 14.5% | 112,292 | $ | 1,052,525 | $ | 10.73 | 87.4% | Publix Super Markets (2010) | ||||||||||||||||||||||||||
Georgia | ||||||||||||||||||||||||||||||||||||||||||
174
|
Alpharetta, GA |
Jo-Ann Fabrics 965 North Point Dr. |
30022 | SC | Fee | 2000 | 2007 | 100% | 38,418 | $ | 512,880 | $ | 13.35 | 100% | Jo-Ann Stores (2016) | |||||||||||||||||||||||||||
175
|
Athens, GA |
Athens East 4375 Lexington Road |
30605 | SC | Fee | 2000 | 2003 | 100% | 24,000 | $ | 277,560 | $ | 14.46 | 80% | Wal-Mart (Not Owned) | |||||||||||||||||||||||||||
176
|
Atlanta, GA |
Pleasant Hill Plaza 1630 Pleasant Hill Road |
30136 | SC | Fee | 1990 | 1994 | 100% | 99,025 | $ | 660,370 | $ | 12.91 | 51.6% | Wal-Mart (Not Owned) | |||||||||||||||||||||||||||
177
|
Atlanta, GA |
Perimeter Pointe 1155 Mt. Vernon Highway |
30136 | SC | Fee (3 | ) | 1995/2002 | 1995 | 14.5% | 343,155 | $ | 4,962,738 | $ | 14.79 | 92.5% | Stein Mart (2010), Babies R Us (2012), Sports Authority (2012), L.A. Fitness (2016), Office Depot (2012), United Artists Theatre (2015) |
28
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
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Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
178
|
Atlanta, GA |
Abernathy Square 6500 Roswell Rd. |
30328 | SC | Fee | 1983/1994 | 2007 | 100% | 131,516 | $ | 2,359,340 | $ | 19.81 | 90.6% | Publix Super Markets (2014) | |||||||||||||||||||||||||||
179
|
Atlanta, GA |
Brookhaven 3974 Peachtree Rd. NE. |
30319 | SC | Fee (3 | ) | 1993 | 2007 | 20% | 65,320 | $ | 1,174,120 | $ | 16.75 | 100% | Kroger (2018) | ||||||||||||||||||||||||||
180
|
Atlanta, GA |
Cascade Corners 3425 Cascade Road |
30311 | SC | Fee (3 | ) | 1993 | 2007 | 20% | 66,844 | $ | 474,396 | $ | 7.10 | 100% | Kroger (2020) | ||||||||||||||||||||||||||
181
|
Atlanta, GA |
Cascade Crossing 3695 Cascade Rd. SW. |
30331 | SC | Fee (3 | ) | 1994 | 2007 | 20% | 63,346 | $ | 602,162 | $ | 9.51 | 100% | Publix Super Markets (2014) | ||||||||||||||||||||||||||
182
|
Augusta, GA | Goodys Shopping Center 2360 Georgetown Road | 30906 | SC | Fee (3 | ) | 1999 | 2007 | 15% | 22,560 | $ | 187,474 | $ | 8.31 | 100% | Goodys (2014), Super Wal-Mart (Not Owned) | ||||||||||||||||||||||||||
183
|
Buford, GA | Marketplace at Millcreek I Mall of Georgia Blvd. | 30519 | SC | Fee (3 | ) | 2003 | 2007 | 15% | 403,106 | $ | 4,968,365 | $ | 12.60 | 97.8% | Toys R Us (2015), R.E.I. (2013), Borders (2020), Office Max (2014), Linens N Things (2015), PetSmart (2015), Michaels (2010), DSW Shoe Warehouse (2013), Ross Dress For Less (2013), Marshalls (2012) | ||||||||||||||||||||||||||
184
|
Canton, GA |
Hickory Flat Village 6175 Hickory Flat Hwy. |
30115 | SC | Fee (3 | ) | 2000 | 2007 | 20% | 74,020 | $ | 984,824 | $ | 13.30 | 100% | Publix Super Markets (2020) | ||||||||||||||||||||||||||
185
|
Canton, GA |
Riverstone Plaza 1451 Riverstone Parkway |
30114 | SC | Fee (3 | ) | 1998 | 2007 | 20% | 302,131 | $ | 3,492,793 | $ | 11.38 | 98.6% | Goodys (2010), Michaels (2012), Ross Dress For Less (2012), Belk (2017), Publix Super Markets (2018) | ||||||||||||||||||||||||||
186
|
Cartersville, GA |
Bartow Marketplace 215 Marketplace Blvd. |
30121 | SC | Fee (3 | ) | 1995 | 2007 | 15% | 375,067 | $ | 2,455,421 | $ | 6.57 | 99.6% | Wal-Mart (2015), Lowes (2015) | ||||||||||||||||||||||||||
187
|
Chamblee, GA |
Chamblee Plaza Peachtree Industrial Boulevard |
30341 | SC | Fee | 1976 | 2003 | 100% | 105,104 | $ | 854,940 | $ | 10.75 | 75.7% | ||||||||||||||||||||||||||||
188
|
Columbus, GA |
Bradley Park Crossing 1591 Bradley Park Drive |
31904 | SC | Fee | 1999 | 2003 | 100% | 119,786 | $ | 1,373,719 | $ | 11.47 | 100% | Goodys (2011), PetSmart (2015), Michaels (2009), Target (Not Owned) | |||||||||||||||||||||||||||
189
|
Cumming, GA |
Sharon Greens 1595 Peachtree Pky. |
30041 | SC | Fee (3 | ) | 2001 | 2007 | 20% | 98,317 | $ | 1,137,890 | $ | 12.20 | 94.9% | Kroger (2021) | ||||||||||||||||||||||||||
190
|
Cumming, GA | Cumming Marketplace Marketplace Boulevard | 30041 | SC | Fee | 1997/1999 | 2003 | 100% | 308,557 | $ | 3,801,962 | $ | 11.80 | 100% | Goodys (2012), Lowes (2019), Michaels (2010), Office Max (2013), Wal-Mart (Not Owned), Home Depot (Not Owned) | |||||||||||||||||||||||||||
191
|
Decatur, GA |
Flat Shoals Crossing 3649 Flakes Mill Rd. |
30034 | SC | Fee (3 | ) | 1994 | 2007 | 20% | 69,699 | $ | 706,551 | $ | 10.14 | 100% | Publix Super Markets (2013) | ||||||||||||||||||||||||||
192
|
Decatur, GA |
Hairston Crossing 2075 S Hairston Road |
30035 | SC | Fee (3 | ) | 2002 | 2007 | 20% | 57,884 | $ | 694,062 | $ | 11.99 | 100% | Publix Super Markets (2022) | ||||||||||||||||||||||||||
193
|
Douglasville, GA | Douglasville Marketplace 6875 Douglas Boulevard | 30135 | SC | Fee | 1999 | 2003 | 100% | 86,158 | $ | 1,459,315 | $ | 10.51 | 100% | Best Buy (2015), Babies R Us(2011), Lowes (Not Owned) |
29
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
194
|
Douglasville, GA |
Market Square 9503-9579 Highway 5 |
30135 | SC | Fee (3 | ) | 1974/1990 | 2007 | 20% | 121,766 | $ | 1,296,385 | $ | 12.20 | 82.8% | Office Depot (2013) | ||||||||||||||||||||||||||
195
|
Douglasville, GA |
Douglas Pavilion 2900 Chapel Hill Rd. |
30135 | SC | Fee (3 | ) | 1998 | 2007 | 15% | 267,010 | $ | 3,069,785 | $ | 11.50 | 100% | PetSmart (2014), Office Max (2013), Marshalls (2008), Goodys (2013), Ross Dress For Less (2012), Hudsons Furniture Showroom (2014) | ||||||||||||||||||||||||||
196
|
Duluth, GA | Venture Pointe I 2050 W. Liddell Rd. | 30096 | SC | Fee (3 | ) | 1996 | 2007 | 15% | 335,420 | $ | 2,988,323 | $ | 8.91 | 100% | Hobby Lobby (2011), Babies R Us (2014), Ashley Furniture Homestore (2012), Goodys (2011), Golfsmith Golf Center (2012), Kohls (2022), Super Target (Not Owned), Costco (Not Owned) | ||||||||||||||||||||||||||
197
|
Duluth, GA |
Sofa Express 3480 Steve Reynolds Blvd. |
30096 | SC | Fee | 2004 | 2007 | 100% | 20,000 | $ | 0 | $ | 0.00 | 0% | ||||||||||||||||||||||||||||
198
|
Duluth, GA |
Pleasant Hill 2205 Pleasant Hill |
30096 | SC | Fee (3 | ) | 1997/2000 | 2007 | 15% | 282,137 | $ | 3,457,382 | $ | 12.63 | 97% | Barnes & Noble (2012), Toys R Us (2013), Jo-Ann Stores (2011), Staples (2014), JCPenney (2012), Old Navy (2009) | ||||||||||||||||||||||||||
199
|
Ellenwood, GA |
Shoppes of Ellenwood East Atlanta Road & Fairview Road |
30294 | SC | Fee (3 | ) | 2003 | 2007 | 20% | 67,721 | $ | 864,056 | $ | 13.53 | 94.3% | Publix Super Markets (2023) | ||||||||||||||||||||||||||
200
|
Fayetteville, GA |
Fayette Pavilion I New Hope Road & GA Hwy. 85 |
30214 | SC | Fee (3 | ) | 1995/2002 | 2007 | 15% | 1,280,938 | $ | 11,466,621 | $ | 9.73 | 92% | H.H. Gregg Appliances (2018), Wal-Mart (2016), Goodys (2016), Bed Bath & Beyond (2013), Sports Authority (2012), T.J. Maxx (2009), Publix Super Markets (2016), Belk (2015), Best Buy (2013), Hudsons Furniture Showroom (2016), Old Navy (2010), Ross Dress For Less (2012), Toys R Us (2010), Cinemark (2018), Marshalls (2011), PetSmart (2016), Kohls (2022), Jo-Ann Stores (2012), Dicks Sporting Goods (2016), Home Depot (Not Owned), Target (Not Owned) | ||||||||||||||||||||||||||
201
|
Flowery Branch, GA |
Clearwater Crossing 7380 Spout Springs Road |
30542 | SC | Fee (3 | ) | 2003 | 2007 | 20% | 90,566 | $ | 1,121,799 | $ | 12.78 | 96.9% | Kroger (2023) | ||||||||||||||||||||||||||
202
|
Gainesville, GA |
Eckerd Drug Store 599 S. Enota Drive |
30501 | SC | Fee | 1997 | 2007 | 100% | 10,594 | $ | 178,016 | $ | 16.80 | 100% |
30
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
203
|
Hiram, GA |
Hiram Pavilion I 5220 Jimmy Lee Smith Parkway |
30141 | SC | Fee (3 | ) | 2002 | 2007 | 15% | 363,695 | $ | 3,660,973 | $ | 10.14 | 99.2% | Ross Dress For Less (2012), Michaels (2012), Marshalls (2011), Kohls (2022), Goodys (2016), Linens N Things (2017) | ||||||||||||||||||||||||||
204
|
Kennesaw, GA |
Barrett Pavilion I 740 Barrett Parkway |
30144 | SC | Fee (3 | ) | 1998 | 2007 | 15% | 440,523 | $ | 6,552,384 | $ | 15.08 | 94.4% | AMC Theatre (2019), Homegoods (2013), The School Box (2010), Goodys (2011), Golfsmith Golf Center (2013), H.H. Gregg Appliances (2018), Jo-Ann Stores (2011), Total Wine & More (2017), Target (Not Owned) | ||||||||||||||||||||||||||
205
|
Kennesaw, GA |
Town Center Commons 725 Earnest Barrett Parkway |
30144 | SC | Fee | 1998 | 2007 | 100% | 72,108 | $ | 943,603 | $ | 14.34 | 91.3% | JCPenney (2013), Dicks (Not Owned) | |||||||||||||||||||||||||||
206
|
Lawrenceville, GA |
Five Forks Village 850 Dogwood Road |
30044 | SC | Fee (3 | ) | 1990 | 2003 | 10% | 89,064 | $ | 483,783 | $ | 15.99 | 34% | |||||||||||||||||||||||||||
207
|
Lawrenceville, GA |
Eckerd Drug Store 1545 Lawrenceville Highway |
30044 | SC | Fee | 1997 | 2007 | 100% | 9,504 | $ | 184,328 | $ | 19.39 | 100% | ||||||||||||||||||||||||||||
208
|
Lawrenceville, GA |
Springfield Park 665 Duluth Highway |
30045 | SC | Fee | 1992/2000 | 2007 | 100% | 105,321 | $ | 1,071,557 | $ | 10.94 | 83.6% | Hobby Lobby (2011) | |||||||||||||||||||||||||||
209
|
Lilburn, GA |
Five Forks Crossing 3055 Five Forks Trickum Road |
30047 | SC | Fee (3 | ) | 2000/2001 | 2003 | 10% | 73,910 | $ | 705,903 | $ | 9.55 | 100% | Hobby Lobby (2011) | ||||||||||||||||||||||||||
210
|
Lithonia, GA |
Stonecrest Marketplace Turner Hill Road & Mall Parkway |
30038 | SC | Fee (3 | ) | 2002 | 2007 | 15% | 264,644 | $ | 3,069,565 | $ | 12.26 | 94.6% | Staples (2017), Babies R Us (2018), Linens N Things (2018), DSW Shoe Warehouse (2013), Ross Dress For Less (2013), Marshalls (2012) | ||||||||||||||||||||||||||
211
|
Lithonia, GA |
The Shops at Turner Hill 8200 Mall Parkway |
30038 | SC | Fee (3 | ) | 2003 | 2003 | 14.5% | 113,675 | $ | 1,624,335 | $ | 13.16 | 98.5% | Best Buy (2018), Bed Bath & Beyond (2013), Toys R Us (2012), Sams Club (Not Owned) | ||||||||||||||||||||||||||
212
|
Loganville, GA |
Midway Plaza 910 Athens Hwy. |
30052 | SC | Fee (3 | ) | 1995 | 2003 | 20% | 91,196 | $ | 981,976 | $ | 11.06 | 97.4% | Kroger (2016) | ||||||||||||||||||||||||||
213
|
Macon, GA |
Eisenhower Annex 4685 Presidential Parkway |
31206 | SC | Fee | 2002 | 2007 | 100% | 53,477 | $ | 647,542 | $ | 12.11 | 100% | H.H. Gregg Appliances (2036), PetSmart (2017) | |||||||||||||||||||||||||||
214
|
Macon, GA |
Eisenhower Crossing I 4685 Presidential Parkway |
31206 | SC | Fee (3 | ) | 2002 | 2007 | 15% | 400,602 | $ | 4,500,807 | $ | 11.33 | 97% | Kroger (2022), Staples (2016), Michaels (2011), Ross Dress For Less (2012), Bed Bath & Beyond (2012), Goodys (2016), Old Navy (2011), Marshalls (2011), Dicks Sporting Goods (2017), Target (Not Owned) |
31
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
215
|
Macon, GA |
Eisenhower Outlot (Davids Bridal) 4685 Presidential Parkway |
31206 | SC | Fee (3 | ) | 2004 | 2007 | 15% | 14,000 | $ | 269,540 | $ | 19.25 | 100% | |||||||||||||||||||||||||||
216
|
Macon, GA |
Kmart 1901 Paul Walsh Dr. |
31206 | SC | Fee | 2000 | 2007 | 100% | 102,098 | $ | 0 | $ | 0.00 | 0% | ||||||||||||||||||||||||||||
217
|
Marietta, GA |
Town Center Prado 2609 Bells Ferry Road |
30066 | SC | Fee (3 | ) | 1995/2002 | 1995 | 14.5% | 316,786 | $ | 3,932,883 | $ | 12.71 | 96.3% | Stein Mart (2012), Ross Dress For Less (2013), Publix Super Markets (2015), Crunch Fitness (2011) | ||||||||||||||||||||||||||
218
|
Marietta, GA |
Blockbuster 1748 Powder Springs |
30064 | SC | Fee (3 | ) | 1994 | 2007 | 20% | 6,500 | $ | 128,960 | $ | 19.84 | 100% | |||||||||||||||||||||||||||
219
|
Marietta, GA |
Eckerd Drug Store 731 Whitlock Ave. |
30064 | SC | Fee | 1997 | 2007 | 100% | 10,880 | $ | 183,507 | $ | 16.87 | 100% | ||||||||||||||||||||||||||||
220
|
McDonough, GA |
McDonough Marketplace (LP-II) NE. Corner 175 & Highway 20 |
30253 | SC | Fee (3 | ) | 2003 | 2003 | 14.5% | 53,158 | $ | 868,851 | $ | 13.76 | 100% | Cracker Barrel (2012), Office Depot (2016), Wal-Mart (Not Owned), Lowes (Not Owned) | ||||||||||||||||||||||||||
221
|
McDonough, GA |
Shoppes at Lake Dow 900-938 Highway 81 E. |
30252 | SC | Fee (3 | ) | 2002 | 2007 | 20% | 73,271 | $ | 836,636 | $ | 12.61 | 90.6% | Publix Super Markets (2022) | ||||||||||||||||||||||||||
222
|
Morrow, GA |
Southlake Pavilion 1912 Mt. Zion Road |
30260 | SC | Fee (3 | ) | 1996/2001 | 2007 | 15% | 530,066 | $ | 6,049,543 | $ | 12.52 | 91.2% | Circuit City (2017), Ross Dress For Less (2011), Barnes & Noble (2013), Ashley Furniture Homestore (2012), L.A. Fitness (2017), Staples (2015), Old Navy (2011), Linens N Things (2017), Goodys (2016), H.H. Gregg Appliances (2018), CompUSA (2012), Target (Not Owned) | ||||||||||||||||||||||||||
223
|
Newnan, GA |
Newnan Crossing 955-1063 Bullsboro Drive |
30264 | SC | Fee | 1995 | 2003 | 100% | 156,497 | $ | 1,278,651 | $ | 8.33 | 98.1% | Lowes (2015), Wal-Mart (Not Owned), Belk (Not Owned) | |||||||||||||||||||||||||||
224
|
Newnan, GA |
Newnan Pavilion 1074 Bullsboro Dr. |
30265 | SC | Fee (3 | ) | 1998 | 2007 | 15% | 263,705 | $ | 3,813,572 | $ | 12.03 | 100% | Office Max (2013), PetSmart (2015), Goodys (2009), Circuit City (2016), Home Depot (2019), Ross Dress For Less (2012), Kohls (2022) | ||||||||||||||||||||||||||
225
|
Norcross, GA |
Jones Bridge Plaza 5075 Peachtree Pky. |
30092 | SC | Fee | 1999 | 2007 | 100% | 83,363 | $ | 816,850 | $ | 9.76 | 97.6% | Ingles (2019) | |||||||||||||||||||||||||||
226
|
Rome, GA |
Circuit City - Rome 2700 Martha Berry Highway NE. |
30165 | SC | Fee | 2001 | 2007 | 100% | 33,056 | $ | 420,000 | $ | 12.71 | 100% | Circuit City (2021) | |||||||||||||||||||||||||||
227
|
Roswell, GA |
Sandy Plains Village I Georgia Hwy. 92 & Sandy Plains Road |
30075 | SC | Fee | 1978/1995 | 2007 | 100% | 177,599 | $ | 1,649,175 | $ | 10.50 | 88.5% | Kroger (2010), Stein Mart (2009) |
32
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
228
|
Roswell, GA |
Stonebridge Square 610-20 Crossville Rd. |
30075 | SC | Fee (3 | ) | 2002 | 2007 | 15% | 160,104 | $ | 2,068,950 | $ | 13.43 | 96.2% | Linens N Things (2011), Kohls (2022) | ||||||||||||||||||||||||||
229
|
Smyrna, GA |
Heritage Pavilion 2540 Cumberland Blvd. |
30080 | SC | Fee (3 | ) | 1995 | 2007 | 15% | 262,961 | $ | 2,968,972 | $ | 12.59 | 89.7% | PetSmart (2016), Ross Dress For Less (2016), American Signature (2018), T.J. Maxx (2010), Marshalls (2011) | ||||||||||||||||||||||||||
230
|
Snellville, GA |
Presidential Commons 1630-1708 Scenic Hwy. |
30078 | SC | Fee | 2000 | 2007 | 100% | 371,586 | $ | 4,163,676 | $ | 10.94 | 99.6% | Jo-Ann Stores (2014), Kroger (2018), Stein Mart (2008), Circuit City (2019), Home Depot (2023) | |||||||||||||||||||||||||||
231
|
Snellville, GA |
Eckerd Drug Store 3295 Centerville Hwy. |
30039 | SC | Fee | 1997 | 2007 | 100% | 10,594 | $ | 199,601 | $ | 18.84 | 100% | ||||||||||||||||||||||||||||
232
|
Stone Mountain, GA |
Rivercliff Village Stone Mountain Highway |
30047 | SC | Fee | 1999 | 1993 | 100% | 2,000 | $ | 46,200 | $ | 23.10 | 100% | ||||||||||||||||||||||||||||
233
|
Stone Mountain, GA |
Deshon Plaza 380 N. Deshon Road |
30087 | SC | Fee (3 | ) | 1994 | 2007 | 20% | 64,055 | $ | 627,970 | $ | 10.39 | 94.4% | Publix Super Markets (2014) | ||||||||||||||||||||||||||
234
|
Suwanee, GA |
Suwanee Crossroads Lawrenceville Road & Satellite Blvd. |
30024 | SC | Fee (3 | ) | 2002 | 2007 | 15% | 69,600 | $ | 938,605 | $ | 17.95 | 75.1% | Super Wal-Mart (Not Owned) | ||||||||||||||||||||||||||
235
|
Suwanee, GA |
Johns Creek Towne Center 3630 Peachtree Parkway |
30024 | SC | Fee | 2001/2004 | 2003 | 100% | 285,336 | $ | 3,809,187 | $ | 13.68 | 97.6% | Borders (2021), PetSmart (2020), Kohls (2022), Michaels (2011), Staples (2016), Shoe Gallery (2014) | |||||||||||||||||||||||||||
236
|
Suwannee, GA |
The Shops at Johns Creek 4090 Johns Creek Pky. |
30024 | SC | Fee (3 | ) | 1997 | 2007 | 20% | 18,200 | $ | 350,242 | $ | 19.24 | 100% | |||||||||||||||||||||||||||
237
|
Sylvania, GA |
BI-LO - Sylvania 1129 W. Ogeechee St. |
30467 | SC | Fee | 2002 | 2007 | 100% | 36,000 | $ | 378,000 | $ | 10.50 | 100% | BI-LO (2023) | |||||||||||||||||||||||||||
238
|
Tucker, GA |
Cofer Crossing 4349-4375 Lawrenceville Hwy. |
30084 | SC | Fee (3 | ) | 1998/2003 | 2003 | 20% | 130,832 | $ | 1,268,458 | $ | 9.22 | 99% | Goodys (2014), Kroger (2019), Wal-Mart (Not Owned) | ||||||||||||||||||||||||||
239
|
Tyrone, GA |
Southampton Village NWC of Highway 74 & Swanson Road |
30290 | SC | Fee (3 | ) | 2003 | 2007 | 20% | 77,956 | $ | 864,896 | $ | 12.34 | 89.9% | Publix Super Markets (2023) | ||||||||||||||||||||||||||
240
|
Union City, GA |
Shannon Square 4720 Jonesboro Road |
30291 | SC | Fee | 1986 | 2003 | 100% | 100,002 | $ | 561,450 | $ | 6.79 | 82.7% | Wal-Mart (Not Owned) | |||||||||||||||||||||||||||
241
|
Warner Robbins, GA |
Lowes Home Improvement 2704 Watson Blvd. |
31093 | SC | Fee | 2000 | 2007 | 100% | 131,575 | $ | 910,000 | $ | 6.92 | 100% | Lowes (2017) | |||||||||||||||||||||||||||
242
|
Warner Robins, GA |
Warner Robins Place 2724 Watson Boulevard |
31093 | SC | Fee | 1997 | 2003 | 100% | 107,941 | $ | 1,360,188 | $ | 11.97 | 98.9% | T.J. Maxx (2010), Staples (2016), Lowes (Not Owned), Wal-Mart (Not Owned) | |||||||||||||||||||||||||||
243
|
Warner Robins, GA |
City Crossing Watson Blvd. & Carl Vinson Pky. |
31093 | SC | Fee (3 | ) | 2001 | 2007 | 15% | 190,433 | $ | 1,743,572 | $ | 11.56 | 79.2% | Michaels (2011), Ross Dress For Less (2012), Home Depot (Not Owned) |
33
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
244
|
Woodstock, GA |
Woodstock Place 10029 Highway 928 |
30188 | SC | GL | 1995 | 2003 | 100% | 44,691 | $ | 324,666 | $ | 12.64 | 57.5% | ||||||||||||||||||||||||||||
245
|
Woodstock, GA |
Woodstock Square 120-142 Woodstock Square |
30189 | SC | Fee (3 | ) | 2001 | 2007 | 15% | 218,859 | $ | 2,870,227 | $ | 13.11 | 100% | Office Max (2017), Old Navy (2012), Kohls (2022), Super Target (Not Owned) | ||||||||||||||||||||||||||
Idaho | ||||||||||||||||||||||||||||||||||||||||||
246
|
Idaho Falls, ID |
Country Club Mall 1515 Northgate Mile |
83401 | SC | Fee |
1976/ 1992/1997 |
1998 | 100% | 148,593 | $ | 828,146 | $ | 7.43 | 75% | Office Max (2011), World Gym (2008), Fred Meyer, Inc. (Not Owned) | |||||||||||||||||||||||||||
247
|
Meridian, ID |
Meridian Crossroads Eagle & Fairview Road |
83642 | SC | Fee |
1999/2001/ 2002/2003/ 2004 |
1 | * | 100% | 461,023 | $ | 6,048,895 | $ | 12.47 | 94.7% | Bed Bath & Beyond (2011), Old Navy (2010), ShopKo (2020), Office Depot (2010), Ross Dress For Less (2012), Marshalls (2012), Sportsmans Warehouse (2015), Babies R Us (2014), Craft Warehouse (2013), Wal-Mart (Not Owned) | ||||||||||||||||||||||||||
Illinois | ||||||||||||||||||||||||||||||||||||||||||
248
|
Deer Park, IL |
Deer Park Town Center 20530 North Rand Rd. |
60010 | LC | Fee (3 | ) | 2000/2004 | 1 | * | 24.75% | 287,377 | $ | 8,792,364 | $ | 29.68 | 95.1% | Barnes & Noble (Not Owned), Century Cinemas (Not Owned), Pier 1 Imports (2012), Banana Republic (2010), Pottery Barn Kids (2012), Pottery Barn (2013), Restoration Hardware (2010), Eddie Bauer Home (2011), Eddie Bauer Sportswear (2011), Coldwater Creek (2010), J.Crew (2011), Ann Taylor (2011), Talbots/Talbots Petites (2011), Williams-Sonoma (2013), Joseph A. Bank Clothiers (2011), California Pizza Kitchen (2013), Bath And Body Works (2011), J.Jill (2013), Bombay (2007), American Eagle (2007), Victorias Secret (2007) | |||||||||||||||||||||||||
249
|
McHenry, IL |
The Shops at Fox River 3340 Shoppers Drive |
60050 | SC | Fee | 2006 | 1 | * | 100% | 217,052 | $ | 3,368,389 | $ | 15.52 | 100% | Dicks Sporting Goods (2018), PetSmart (2017), Bed Bath & Beyond (2017), Wickes Furniture (2022), Best Buy (2018), Shoe Carnival (2017) | ||||||||||||||||||||||||||
250
|
Mount Vernon, IL |
Times Square Mall 42nd & Broadway |
62864 | MM | Fee |
1974/1998/ 2000 |
1993 | 100% | 269,328 | $ | 1,013,627 | $ | 4.32 | 82.5% | Sears (2013), Goodys (2015), JCPenney (2012) | |||||||||||||||||||||||||||
251
|
Orland Park, IL |
Marley Creek Square 179th St. & Wolf Road |
60467 | SC | Fee (3 | ) | 2006 | 2006 | 50% | 57,927 | $ | 717,957 | $ | 20.26 | 61.2% |
34
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
252
|
Orland Park, IL |
Home Depot Center 15800 Harlem Avenue |
60462 | SC | Fee | 1987/1993 | 2004 | 100% | 149,498 | $ | 1,417,969 | $ | 10.62 | 89.3% | Home Depot (2012) | |||||||||||||||||||||||||||
253
|
Rockford, IL |
Walgreens - Rockford 2525 S. Alpine Road |
61108 | SC | Fee | 1998/1999 | 2007 | 100% | 14,725 | $ | 350,000 | $ | 23.77 | 100% | ||||||||||||||||||||||||||||
254
|
Roscoe, IL |
Hilander Village 4860 Hononegah Road |
61073 | SC | Fee (3 | ) | 1994 | 2007 | 20% | 125,623 | $ | 1,023,480 | $ | 9.55 | 85.3% | Kroger (2020) | ||||||||||||||||||||||||||
255
|
Schaumburg, IL |
Woodfield Village Green 1430 East Golf Road |
60173 | SC | Fee (3 | ) |
1993/1998/ 2002 |
1995 | 14.5% | 508,673 | $ | 8,748,331 | $ | 17.20 | 100% | Circuit City (2009), Off 5th (2011), PetSmart (2014), Homegoods (2014), Office Max (2010), Container Store (2011), Filenes Basement (2014), Marshalls (2009), Nordstrom Rack (2009), Borders (2009), Expo Design Center (2019), Costco (Not Owned), Prairie Rock Restaurant (Not Owned) | ||||||||||||||||||||||||||
256
|
Skokie, IL |
Village Crossing 5507 W. Touhy Ave. |
60077 | SC | Fee (3 | ) | 1989 | 2007 | 15% | 434,973 | $ | 7,279,351 | $ | 18.51 | 90.4% | Michaels (2013), Bed Bath & Beyond (2013), Office Max (2015), Best Buy (2009), Crown Theatres (2021), Barnes & Noble (2009) | ||||||||||||||||||||||||||
Indiana | ||||||||||||||||||||||||||||||||||||||||||
257
|
Bedford, IN |
Town Fair Center 1320 James Avenue |
47421 | SC | Fee | 1993/1997 | 2 | * | 100% | 223,431 | $ | 1,119,876 | $ | 6.13 | 81.8% | Kmart (2018), Goodys (2008), JCPenney (2008) | ||||||||||||||||||||||||||
258
|
Evansville, IN |
East Lloyd Commons 6300 E. Lloyd Expressway |
47715 | SC | Fee | 2005 | 2007 | 100% | 159,682 | $ | 2,177,640 | $ | 13.94 | 97.9% | Gordmans (2015), Michaels (2015), Best Buy (2016) | |||||||||||||||||||||||||||
259
|
Highland, IN |
Highland Grove Shopping Center Highway 41 & Main Street |
46322 | SC | Fee (3 | ) | 1995/2001 | 1996 | 20% | 312,546 | $ | 3,451,143 | $ | 11.41 | 96.8% | Marshalls (2011), Kohls (2016), Circuit City (2016), Office Max (2012), Jewel (Not Owned), Target (Not Owned) | ||||||||||||||||||||||||||
260
|
Indianapolis, IN |
Glenlake Plaza 2629 E. 65th Street |
46220 | SC | Fee (3 | ) | 1980 | 2007 | 20% | 102,549 | $ | 776,975 | $ | 9.06 | 83.6% | Kroger (2020) | ||||||||||||||||||||||||||
261
|
Lafayette, IN |
Park East Marketplace 4205 - 4315 Commerce Drive |
47905 | SC | Fee | 2000 | 2003 | 100% | 35,100 | $ | 383,407 | $ | 14.04 | 77.8% | Wal-Mart (Not Owned) | |||||||||||||||||||||||||||
262
|
South Bend, IN |
Broadmoor Plaza 1217 E. Ireland Road |
46614 | SC | Fee (3 | ) | 1987 | 2007 | 20% | 114,968 | $ | 1,243,617 | $ | 11.47 | 94.3% | Kroger (2020) | ||||||||||||||||||||||||||
Iowa | ||||||||||||||||||||||||||||||||||||||||||
263
|
Cedar Rapids, IA |
Northland Square 303 -367 Collins Road, NE. |
52404 | SC | Fee | 1984 | 1998 | 100% | 187,068 | $ | 1,885,609 | $ | 10.08 | 100% | T.J. Maxx (2010), Office Max (2010), Barnes & Noble (2010), Kohls (2021) | |||||||||||||||||||||||||||
264
|
Ottumwa, IA |
Quincy Place Mall 1110 Quincy Avenue |
52501 | MM | Fee |
1990/1999/ 2002 |
1/2 | * | 100% | 241,427 | $ | 1,224,069 | $ | 6.21 | 81.6% | Herbergers (2010), JCPenney (2010), Goodys (2014), Target (Not Owned) |
35
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
Kansas | ||||||||||||||||||||||||||||||||||||||||||
265
|
Leawood, KS |
Town Center Plaza 5000 W. 119th Street |
66209 | LC | Fee | 1996/2002 | 1998 | 100% | 309,423 | $ | 8,403,603 | $ | 27.33 | 96.3% | Barnes & Noble (2011), Coldwater Creek (2009), Limited/Limited Too (2009), Victorias Secret (2009), Express/Bath&Body/Structure (2009), Gap/Gap Body (2008), Gap Kids (2005), J.Jill (2013), Pottery Barn (2009), Williams-Sonoma (2009), American Eagle (2013), Pacific Sunwear (2012), Bravo Cucina Italiana (2013), Restoration Hardware (2012), Houlihans (2025), Bristol Seafood Bar & Grill (2011), Bombay (2006), Macys (2104) | |||||||||||||||||||||||||||
266
|
Merriam, KS |
Merriam Town Center 5700 Antioch Road |
66202 | SC | Fee (3 | ) | 1998/2004 | 1 | * | 14.5% | 351,244 | $ | 4,200,768 | $ | 12.10 | 98.8% | Cinemark (2018), Office Max (2013), PetSmart (2019), Hen House (2018), Marshalls (2008), Dicks Sporting Goods (2016), Home Depot (Not Owned) | |||||||||||||||||||||||||
267
|
Overland Park, KS | Overland Pointe Marketplace Intersection 135 & Antioch Road | 66213 | SC | Fee (3 | ) | 2001/2004 | 2003 | 14.5% | 42,632 | $ | 883,583 | $ | 17.55 | 98.3% | Babies R Us (2015), Sams Club (Not Owned), Home Depot (Not Owned) | ||||||||||||||||||||||||||
268
|
Wichita, KS |
Eastgate Plaza South Rock Road |
67207 | SC | Fee | 1955 | 2002 | 100% | 203,997 | $ | 2,045,395 | $ | 12.25 | 84.1% | Burlington Coat Factory (2017), Office Max (2010), T.J. Maxx (2011), Barnes & Noble (2012) | |||||||||||||||||||||||||||
Kentucky | ||||||||||||||||||||||||||||||||||||||||||
269
|
Lexington, KY |
North Park Marketplace 524 West New Circle |
40511 | SC | Fee | 1998 | 2003 | 100% | 46,647 | $ | 624,806 | $ | 14.72 | 91% | Staples (2016), Wal-Mart (Not Owned) | |||||||||||||||||||||||||||
270
|
Lexington, KY |
South Farm Marketplace Man-O-War Boulevard & Nichol |
40503 | SC | Fee | 1998 | 2003 | 100% | 27,643 | $ | 604,488 | $ | 21.87 | 100% | Wal-Mart (Not Owned), Lowes (Not Owned) | |||||||||||||||||||||||||||
271
|
Louisville, KY |
Outer Loop Plaza 7505 Outer Loop Highway |
40228 | SC | Fee |
1973/1989 /1998 |
2004 | 100% | 120,777 | $ | 646,969 | $ | 5.93 | 90.3% | Valu Discount (2009) | |||||||||||||||||||||||||||
272
|
Richmond, KY |
Carriage Gate 833-847 Eastern By-Pass |
40475 | SC | Fee | 1992 | 2003 | 100% | 158,041 | $ | 373,235 | $ | 6.41 | 36.9% | Food Lion (2017), Office Depot (2016), Ballards (Not Owned) | |||||||||||||||||||||||||||
Louisiana | ||||||||||||||||||||||||||||||||||||||||||
273
|
Covington, LA |
Covington Corners 782 North High Hwy. 190 |
70433 | SC | Fee | 1999 | 2007 | 100% | 15,590 | $ | 249,440 | $ | 16.00 | 100% | ||||||||||||||||||||||||||||
Maine | ||||||||||||||||||||||||||||||||||||||||||
274
|
Brunswick, ME |
Cooks Corners 172 Bath Road |
04011 | SC | GL | 1965 | 1997 | 100% | 301,992 | $ | 2,610,750 | $ | 8.50 | 97.8% | Hoyts Cinemas (2010), Brunswick Bookland (2014), Big Lots (2013), T.J. Maxx (2010), Sears (2012) |
36
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
Maryland | ||||||||||||||||||||||||||||||||||||||||||
275
|
Bowie, MD |
Duvall Village 4825 Glenn Dale Road |
20720 | SC | Fee | 1998 | 2007 | 100% | 88,022 | $ | 1,335,840 | $ | 16.22 | 93.5% | Super Fresh (2020) | |||||||||||||||||||||||||||
276
|
Glen Burnie, MD |
Harundale Plaza 7440 Ritchie Highway |
21061 | SC | Fee (3 | ) | 1999 | 2007 | 20% | 217,619 | $ | 2,563,473 | $ | 11.78 | 100% | A & P Company (2019), A.J. Wright (2009), Value City (2015) | ||||||||||||||||||||||||||
277
|
Hagerstown, MD |
Valley Park Commons 1520 Wesel Blvd. |
21740 | SC | Fee | 1993/2006 | 2007 | 100% | 87,893 | $ | 1,070,815 | $ | 15.78 | 77.2% | Office Depot (2016) | |||||||||||||||||||||||||||
278
|
Salisbury, MD |
The Commons E. North Point Drive |
21801 | SC | Fee | 1999 | 1 | * | 100% | 126,135 | $ | 1,702,002 | $ | 13.39 | 96.3% | Best Buy (2013), Michaels (2009), Home Depot (Not Owned), Target (Not Owned) | ||||||||||||||||||||||||||
279
|
Upper Marlboro, MD |
Largo Towne Center 950 Largo Center Dr. |
20774 | SC | Fee (3 | ) | 1991 | 2007 | 20% | 260,797 | $ | 3,618,350 | $ | 11.98 | 97.5% | Shoppers Food Warehouse (2009), Marshalls (2011), Regency Furniture (2017) | ||||||||||||||||||||||||||
280
|
White Marsh, MD |
Costco Plaza 9919 Pulaski Hwy. |
21220 | SC | Fee (3 | ) | 1987/1992 | 2007 | 15% | 187,331 | $ | 1,649,327 | $ | 8.09 | 100% | Costco (2011), PetSmart (2010), Pep Boys (2012), Sports Authority (2011), Home Depot (Not Owned) | ||||||||||||||||||||||||||
Massachusetts | ||||||||||||||||||||||||||||||||||||||||||
281
|
Everett, MA |
Gateway Center 1 Mystic View Road |
02149 | SC | Fee | 2001 | 1 | * | 100% | 222,236 | $ | 4,704,989 | $ | 17.00 | 100% | Home Depot (2031), Bed Bath & Beyond (2011), Old Navy (2011), Office Max (2020), Babies R Us (2013), Michaels (2012), Costco (Not Owned), Target (Not Owned) | ||||||||||||||||||||||||||
282
|
Framingham, MA |
Shoppers World 1 Worcester Road |
01701 | SC | Fee (3 | ) | 1994 | 1995 | 14.5% | 769,276 | $ | 14,540,444 | $ | 18.60 | 100% | Toys R Us (2020), Macys (2020), T.J. Maxx (2010), Babies R Us (2013), DSW Shoe Warehouse (2012), A.C. Moore (2012), Marshalls (2011), Bobs Stores (2011), Linens N Things (2011), Sports Authority (2015), PetSmart (2011), Best Buy (2014), Barnes & Noble (2011), AMC Theatre (2014), Kohls (2010) | ||||||||||||||||||||||||||
283
|
Seekonk, MA |
Seekonk Town Center 95 Highland Ave. |
02771 | SC | Fee | 2003 | 2007 | 100% | 80,713 | $ | 903,147 | $ | 11.19 | 100% | Stop & Shop (2026) | |||||||||||||||||||||||||||
284
|
West Springfield, MA |
Riverdale Shops 935 Riverdale Street |
01089 | SC | Fee (3 | ) | 1985/2003 | 2007 | 20% | 273,532 | $ | 3,285,426 | $ | 12.69 | 94.6% | Kohls (2024), Stop & Shop (2016) | ||||||||||||||||||||||||||
285
|
Worcester, MA |
Wal-Mart/Sams Club 301 Barber Ave. |
01606 | SC | Fee | 1998 | 2007 | 100% | 107,929 | $ | 1,116,581 | $ | 10.35 | 100% | Sams Club (2013) |
37
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
Michigan | ||||||||||||||||||||||||||||||||||||||||||
286
|
Bad Axe, MI |
Huron Crest Plaza 850 North Van Dyke Road |
48413 | SC | Fee | 1991 | 1993 | 100% | 63,415 | $ | 113,800 | $ | 10.94 | 16.4% | Wal-Mart (Not Owned) | |||||||||||||||||||||||||||
287
|
Benton Harbor, MI |
Fairplain Plaza 1000 Napier Ave. |
49022 | SC | Fee (3 | ) | 1998 | 2006 | 20% | 222,739 | $ | 1,735,622 | $ | 10.61 | 73.4% | Office Depot (2008), T.J. Maxx (2009), Target (Not Owned), Kohls (Not Owned) | ||||||||||||||||||||||||||
288
|
Cheboygan, MI |
Kmart Shopping Plaza 1109 East State |
49721 | SC | Fee | 1988 | 1994 | 100% | 70,076 | $ | 267,314 | $ | 3.81 | 100% | Kmart (2010) | |||||||||||||||||||||||||||
289
|
Dearborn Heights, MI |
Walgreens - Dearborn Heights 8706 N. Telegraph Rd. |
48127 | SC | Fee | 1998/1999 | 2007 | 100% | 13,905 | $ | 385,510 | $ | 27.72 | 100% | ||||||||||||||||||||||||||||
290
|
Detroit, MI |
Belair Center 8400 E. Eight Mile Road |
48234 | SC | GL | 1989/2002 | 1998 | 100% | 343,619 | $ | 2,532,549 | $ | 7.00 | 97.7% | Target (Not Owned), National Wholesale (2016), Phoenix Theatres (2011), Big Lots (2008), Kids R Us (2013), Forman Mills (2012) | |||||||||||||||||||||||||||
291
|
Gaylord, MI |
Pine Ridge Square 1401 West Main Street |
49735 | SC | Fee | 1991/2004 | 1993 | 100% | 150,203 | $ | 421,019 | $ | 4.63 | 60.6% | Dunhams Sporting Goods (2011), Big Lots (2010) | |||||||||||||||||||||||||||
292
|
Grandville, MI | Grandville Marketplace Intersection 44th St. & Canal Ave. | 49418 | SC | Fee (3 | ) | 2003 | 2003 | 14.5% | 201,726 | $ | 2,592,459 | $ | 12.48 | 98.7% | Circuit City (2017), Linens N Things (2013), Gander Mountain (2016), Office Max (2013), Lowes (Not Owned) | ||||||||||||||||||||||||||
293
|
Houghton, MI | Copper Country Mall Highway M26 | 49931 | MM | Fee | 1981/1999 | 1/2 | * | 100% | 257,863 | $ | 981,984 | $ | 5.11 | 74.5% | Steve & Barrys (2013), JCPenney (2010), Office Max (2014) | ||||||||||||||||||||||||||
294
|
Howell, MI |
Grand River Plaza 3599 East Grand River |
48843 | SC | Fee | 1991 | 1993 | 100% | 214,501 | $ | 1,537,765 | $ | 7.29 | 98.4% | Elder-Beerman (2011), Dunhams Sporting Goods (2011), Office Max (2017), T.J. Maxx (2017) | |||||||||||||||||||||||||||
295
|
Lansing, MI |
The Marketplace at Delta Towns 8305 West Saginaw Hwy. 196 Ramp |
48917 | SC | Fee | 2000/2001 | 2003 | 100% | 135,697 | $ | 1,388,922 | $ | 10.97 | 93.3% | Michaels (2011), Gander Mountain (2015), Staples (2016), PetSmart (2016), Lowes (Not Owned), Wal-Mart (Not Owned) | |||||||||||||||||||||||||||
296
|
Livonia, MI |
Walgreens - Livonia 29200 6 Mile Road |
48152 | SC | Fee | 1998/1999 | 2007 | 100% | 13,905 | $ | 269,061 | $ | 19.35 | 100% | ||||||||||||||||||||||||||||
297
|
Milan, MI |
Milan Plaza 531 W. Main Street |
48160 | SC | Fee (3 | ) | 1955 | 2007 | 20% | 65,764 | $ | 298,347 | $ | 4.54 | 100% | Kroger (2020) | ||||||||||||||||||||||||||
298
|
Mt. Pleasant, MI |
Indian Hills Plaza 4208 E. Blue Grass Road |
48858 | SC | Fee | 1990 | 2 | * | 100% | 249,680 | $ | 574,737 | $ | 5.51 | 41.7% | T.J. Maxx (2014), Kroger (2011) | ||||||||||||||||||||||||||
299
|
Port Huron, MI |
Walgreens NWC 10th Street & Oak Street |
48060 | SC | Fee | 2000 | 2007 | 100% | 15,120 | $ | 359,856 | $ | 23.80 | 100% |
38
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
300
|
Sault St. Marie, MI |
Cascade Crossings 4516 I-75 Business Spur |
49783 | SC | Fee | 1993/1998 | 1994 | 100% | 270,761 | $ | 1,736,142 | $ | 6.46 | 99.3% | Wal-Mart (2012), JCPenney (2008), Dunhams Sporting Goods (2011), Glens Market (2013) | |||||||||||||||||||||||||||
301
|
Walker, MI |
Green Ridge Square II 3410 Alpine Avenue |
49504 | SC | Fee | 1991/1995 | 2004 | 100% | 91,749 | $ | 1,002,669 | $ | 11.98 | 91.2% | Circuit City (2010), Bed Bath & Beyond (2015) | |||||||||||||||||||||||||||
302
|
Walker, MI |
Green Ridge Square 3390-B Alpine Ave. NW. |
49504 | SC | Fee | 1989 | 1995 | 100% | 133,538 | $ | 1,622,716 | $ | 12.44 | 97.7% | T.J. Maxx (2011), Office Depot (2010), Target (Not Owned), Toys R Us (Not Owned) | |||||||||||||||||||||||||||
303
|
Westland, MI |
Walgreens - Westland 7210 N. Middlebelt |
48185 | SC | Fee | 2005 | 2007 | 100% | 13,905 | $ | 285,053 | $ | 20.50 | 100% | ||||||||||||||||||||||||||||
Minnesota | ||||||||||||||||||||||||||||||||||||||||||
304
|
Bemidji, MN |
Paul Bunyan Mall 1201 Paul Bunyan Drive |
56601 | MM | Fee | 1977/1998 | 2 | * | 100% | 297,803 | $ | 1,536,264 | $ | 5.36 | 96.2% | Kmart (2012), Herbergers (2010), JCPenney (2008) | ||||||||||||||||||||||||||
305
|
Brainerd, MN |
Westgate Mall 14136 Baxter Drive |
56425 | MM | Fee | 1985/1998 | 1/2 | * | 100% | 260,319 | $ | 1,852,998 | $ | 7.93 | 89.8% | Steve & Barrys (2013), Herbergers (2013), Movies 10 (2011) | ||||||||||||||||||||||||||
306
|
Coon Rapids, MN |
Riverdale Village 12921 Riverdale Drive |
55433 | SC | Fee (3 | ) | 2003 | 1 | * | 14.5% | 551,867 | $ | 9,274,746 | $ | 15.06 | 98.8% | Kohls (2020), Jo-Ann Stores (2010), Borders (2023), Linens N Things (2016), Old Navy (2012), Sears (2017), Sportsmans Warehouse (2017), Best Buy (2013), JCPenney (2024), DSW Shoe Warehouse (2016), Costco (Not Owned) | |||||||||||||||||||||||||
307
|
Eagan, MN |
Eagan Promenade 1299 Promenade Place |
55122 | SC | Fee (3 | ) | 1997/2001 | 1997 | 50% | 278,211 | $ | 3,647,324 | $ | 13.17 | 99.6% | Byerlys (2016), PetSmart (2018), Barnes & Noble (2012), Office Max (2013), T.J. Maxx (2013), Bed Bath & Beyond (2012), Ethan Allen Furniture (Not Owned) | ||||||||||||||||||||||||||
308
|
Hutchinson, MN |
Hutchinson Mall 1060 SR 15 |
55350 | MM | Fee | 1981 | 1/2 | * | 100% | 121,001 | $ | 484,175 | $ | 5.25 | 72.8% | JCPenney (2011), Hennens Furniture (Not Owned) | ||||||||||||||||||||||||||
309
|
Minneapolis, MN | Maple Grove Crossing Weaver Lake Road & I-94 | 55369 | SC | Fee (3 | ) | 1995/2002 | 1996 | 50% | 265,957 | $ | 3,055,508 | $ | 11.49 | 100% | Kohls (2016), Barnes & Noble (2011), Gander Mountain (2011), Michaels (2012), Bed Bath & Beyond (2012), Cub Foods (Not Owned) | ||||||||||||||||||||||||||
310
|
St. Paul, MN |
Midway Marketplace 1450 University Avenue West |
55104 | SC | Fee (3 | ) | 1995 | 1997 | 14.5% | 324,354 | $ | 2,690,010 | $ | 8.29 | 100% | Wal-Mart (2022), Cub Foods (2015), PetSmart (2011), Mervyns (2016), Herbergers (Not Owned), Borders Books & Music (Not Owned) | ||||||||||||||||||||||||||
311
|
Worthington, MN |
Northland Mall 1635 Oxford Street |
56187 | MM | Fee | 1977 | 1/2 | * | 100% | 185,658 | $ | 350,428 | $ | 3.98 | 47.4% | JCPenney (2012), Hy-Vee Food Stores (2011) |
39
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
Mississippi | ||||||||||||||||||||||||||||||||||||||||||
312
|
Gulfport, MS | Crossroads Center Crossroads Parkway | 39503 | SC | GL | 1999 | 2003 | 100% | 426,807 | $ | 5,290,705 | $ | 11.25 | 99% | Academy Sports (2015), Bed Bath & Beyond (2014), Ross Dress For Less (2015), Goodys (2011), T.J. Maxx (2009), Cinemark (2019), Office Depot (2014), Belk (2024), Barnes & Noble (2014) | |||||||||||||||||||||||||||
313
|
Jackson, MS |
The Junction 6351 I-55 North3 |
39213 | SC | Fee | 1996 | 2003 | 100% | 107,780 | $ | 1,183,739 | $ | 10.98 | 100% | PetSmart (2012), Office Depot (2016), Home Depot (Not Owned), Target (Not Owned) | |||||||||||||||||||||||||||
314
|
Oxford, MS |
Oxford Place 2015 - 2035 University Avenue |
38655 | SC | Fee (3 | ) | 2000 | 2003 | 20% | 13,200 | $ | 336,188 | $ | 13.95 | 100% | Kroger (2020) | ||||||||||||||||||||||||||
315
|
Starkville, MS |
Starkville Crossing 882 Highway 12 West |
39759 | SC | Fee | 1999/2004 | 1994 | 100% | 133,691 | $ | 918,964 | $ | 6.87 | 100% | JCPenney (2010), Kroger (2042), Lowes (Not Owned) | |||||||||||||||||||||||||||
316
|
Tupelo, MS |
Big Oaks Crossing 3850 N Gloster St. |
38801 | SC | Fee | 1992 | 1994 | 100% | 348,236 | $ | 2,032,024 | $ | 5.89 | 99.1% | Sams Club (2012), Goodys (2012), Wal-Mart (2012) | |||||||||||||||||||||||||||
Missouri | ||||||||||||||||||||||||||||||||||||||||||
317
|
Arnold, MO | Jefferson County Plaza Vogel Road | 63010 | SC | Fee (3 | ) | 2002 | 1 | * | 50% | 42,091 | $ | 487,730 | $ | 14.83 | 78.1% | Home Depot (Not Owned), Target (Not Owned) | |||||||||||||||||||||||||
318
|
Fenton, MO |
Fenton Plaza Gravois & Highway 141 |
63206 | SC | Fee | 1970/1997 | 1/2 | * | 100% | 93,420 | $ | 946,807 | $ | 11.10 | 90.1% | |||||||||||||||||||||||||||
319
|
Independence, MO |
Independence Commons 900 East 39th Street |
64057 | SC | Fee (3 | ) | 1995/1999 | 1995 | 14.5% | 386,066 | $ | 5,030,111 | $ | 13.20 | 98.7% | Kohls (2016), Bed Bath & Beyond (2012), Marshalls (2012), Best Buy (2016), Barnes & Noble (2011), AMC Theatres (2015) | ||||||||||||||||||||||||||
320
|
Kansas City, MO |
Ward Parkway 8600 Ward Parkway |
64114 | SC | Fee (3 | ) | 1959/2004 | 2003 | 20% | 358,063 | $ | 5,303,991 | $ | 14.04 | 94.8% | Dicks Sporting Goods (2016), 24 Hour Fitness (2023), PetSmart (2016), Steve & Barrys (2014), Target (2023), AMC Theatres (2011), Off Broadway Shoes (2015), T.J. Maxx (2013), Dillards (2009) | ||||||||||||||||||||||||||
321
|
Springfield, MO |
Morris Corners 1425 East Battlefield |
65804 | SC | GL | 1989 | 1998 | 100% | 56,033 | $ | 491,757 | $ | 8.78 | 100% | Toys R Us (2013) | |||||||||||||||||||||||||||
322
|
St. John, MO |
St. John Crossing 9000-9070 St. Charles Rock Road |
63114 | SC | Fee | 2003 | 2003 | 100% | 88,450 | $ | 1,016,757 | $ | 11.55 | 94% | Shop n Save(2022) | |||||||||||||||||||||||||||
323
|
St. Louis, MO |
Plaza At Sunset Hill 10980 Sunset Plaza |
63128 | SC | Fee | 1997 | 1998 | 100% | 415,435 | $ | 5,605,763 | $ | 12.30 | 99.5% | Toys R Us (2013), CompUSA (2013), Bed Bath & Beyond (2012), Marshalls (2012), Home Depot (2023), PetSmart (2012), Borders (2011) |
40
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
324
|
St.Louis, MO |
Southtowne Kings Highway & Chippewa |
63109 | SC | Fee | 2004 | 1998 | 100% | 71,592 | $ | 1,120,086 | $ | 16.38 | 95.5% | Office Max (2014) | |||||||||||||||||||||||||||
325
|
St.Louis, MO |
Promenade at Brentwood 1 Brentwood Promenade Court |
63144 | SC | Fee | 1998 | 1998 | 100% | 299,584 | $ | 4,043,589 | $ | 13.50 | 100% | Target (2023), Bed Bath & Beyond (2009), PetSmart (2014), Lane Home Furnishings (2013) | |||||||||||||||||||||||||||
326
|
St.Louis, MO |
Gravois Village 4523 Gravois Village Plaza |
63049 | SC | Fee | 1983 | 1998 | 100% | 114,992 | $ | 616,924 | $ | 5.73 | 93.6% | Kmart(2013) | |||||||||||||||||||||||||||
327
|
St.Louis, MO |
Olympic Oaks Village 12109 Manchester Road |
63121 | SC | Fee | 1985 | 1998 | 100% | 92,372 | $ | 1,356,315 | $ | 16.17 | 90.8% | T.J. Maxx (2011) | |||||||||||||||||||||||||||
Nevada | ||||||||||||||||||||||||||||||||||||||||||
328
|
Carson City, NV |
Eagle Station 3871 S. Carson Street |
89701 | MV | Fee | 1983 | 2005 | 50% | 60,494 | $ | 554,533 | $ | 9.17 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
329
|
Las Vegas, NV |
Loma Vista Shopping Center 4700 Meadows Lane |
89107 | MV | Fee | 1979 | 2005 | 50% | 75,687 | $ | 780,300 | $ | 10.31 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
330
|
Las Vegas, NV |
Nellis Crossing Shopping 1300 S. Nellis Blvd. |
89104 | MV | Fee | 1986 | 2005 | 50% | 76,016 | $ | 697,068 | $ | 9.17 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
331
|
Reno, NV |
Sierra Town Center 6895 Sierra Center Parkway |
89511 | MV | Fee | 2002 | 2005 | 50% | 79,239 | $ | 635,684 | $ | 8.02 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
332
|
Reno, NV |
Reno Riverside East First Street & Sierra |
89505 | SC | Fee | 2000 | 2000 | 100% | 52,474 | $ | 697,379 | $ | 13.29 | 100% | Century Theatres (2014) | |||||||||||||||||||||||||||
333
|
SW Las Vegas, NV | Grand Canyon Parkway S.C. 4265 S. Grand Canyon Drive | 89147 | MV | Fee | 2003 | 2005 | 50% | 79,294 | $ | 908,269 | $ | 11.45 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
New Jersey | ||||||||||||||||||||||||||||||||||||||||||
334
|
Brick, NJ |
Brick Center Plaza 51 Chambers Bridge Road |
08723 | SC | Fee | 1999 | 2007 | 100% | 114,028 | $ | 1,848,403 | $ | 16.21 | 100% | Best Buy (2015), Bed Bath & Beyond (2010), Levitz Furniture (2011) | |||||||||||||||||||||||||||
335
|
East Hanover, NJ |
East Hanover Plaza 154 State Route 10 |
07936 | SC | Fee | 1994 | 2007 | 100% | 97,500 | $ | 1,764,383 | $ | 18.10 | 100% | Branch Brook Pool & Patio (2017), Sports Authority (2012) | |||||||||||||||||||||||||||
336
|
East Hanover, NJ |
Sony Theatre Complex 145 State Route 10 |
07936 | SC | Fee | 1993 | 2007 | 100% | 20,737 | $ | 1,024,326 | $ | 22.40 | 89.7% | Loews East Hanover Cinemas (2022) | |||||||||||||||||||||||||||
337
|
Edgewater, NJ |
Edgewater Town Center 905 River Road |
07020 | LC | Fee | 2000 | 2007 | 100% | 77,508 | $ | 1,740,232 | $ | 22.45 | 100% | Whole Foods (2020) | |||||||||||||||||||||||||||
338
|
Freehold, NJ |
Freehold Marketplace NJ Hwy. 33 & W. Main St. (Rte. 537) |
07728 | SC | Fee | 2005 | 1 | * | 100% | 0 | $ | 570,000 | $ | 0.00 | 100% | |||||||||||||||||||||||||||
339
|
Hamilton, NJ |
Hamilton Marketplace NJ State Hwy. 130 & Klockner Rd. |
08691 | SC | Fee | 2004 | 2003 | 100% | 468,240 | $ | 8,278,732 | $ | 15.23 | 99.1% | Staples (2015), Kohls (2023), Linens N Things (2014), Michaels (2013), Ross Dress For Less (2014), ShopRite (2028), Barnes & Noble (2014), Wal-Mart (Not Owned), BJs Wholesale (Not Owned), Lowes (Not Owned) |
41
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
340
|
Jersey City, NJ |
440 Commons 440 State Rte #440 |
07305 | SC | Fee | 1997 | 2007 | 100% | 162,533 | $ | 1,648,075 | $ | 10.14 | 100% | Home Depot (2018), Levitz Furniture (2009) | |||||||||||||||||||||||||||
341
|
Lumberton, NJ |
Crossroads Plaza 1520 Route 38 |
08036 | SC | Fee (3 | ) | 2003 | 2007 | 20% | 89,627 | $ | 1,536,847 | $ | 17.15 | 100% | ShopRite (2024), Lowes (Not Owned) | ||||||||||||||||||||||||||
342
|
Lyndhurst, NJ |
Lewandowski Commons 434 Lewandowski Street |
07071 | SC | Fee (3 | ) | 1998 | 2007 | 20% | 78,097 | $ | 1,676,758 | $ | 22.57 | 95.1% | Stop & Shop (2020) | ||||||||||||||||||||||||||
343
|
Mays Landing, NJ |
Hamilton Commons 4215 Black Horse Pike |
08330 | SC | Fee | 2001 | 2004 | 100% | 398,870 | $ | 5,847,397 | $ | 15.72 | 93.2% | Regal Cinemas (2021), Ross Dress For Less (2012), Bed Bath & Beyond (2017), Marshalls (2012), Sports Authority (2015), Circuit City (2020) | |||||||||||||||||||||||||||
344
|
Mays Landing, NJ |
Wrangleboro Consumer Square 2300 Wrangleboro Road |
08330 | SC | Fee | 1997 | 2004 | 100% | 839,019 | $ | 9,606,208 | $ | 12.05 | 95% | Borders (2017), Best Buy (2017), Kohls (2018), Staples (2012), Babies R Us (2013), BJs Wholesale Club (2016), Dicks Sporting Goods (2013), Linens N Things (2012), Michaels (2013), Target (2023), PetSmart (2013) | |||||||||||||||||||||||||||
345
|
Mt. Laurel, NJ |
Centerton Square Centerton Road & Marter Ave. |
08054 | SC | Fee (3 | ) | 2005 | 1 | * | 10% | 280,067 | $ | 6,673,133 | $ | 18.59 | 100% | Wegmans Food Markets (2024), Bed Bath & Beyond (2015), PetSmart (2015), DSW Shoe Warehouse (2015), Jo-Ann Stores (2015), T.J. Maxx (2015), Sports Authority (2016), Costco (Not Owned), Target (Not Owned) | |||||||||||||||||||||||||
346
|
Princeton, NJ |
Nassau Park Shopping Center Route 1 & Quaker Bridge Road |
02071 | SC | Fee | 1995 | 1997 | 100% | 289,452 | $ | 5,768,332 | $ | 19.93 | 100% | Borders (2011), Best Buy (2012), Linens N Things (2011), PetSmart (2011), Babies R Us (2016), Target (Not Owned), Wal-Mart (Not Owned), Home Depot (Not Owned), Sams Club (Not Owned) | |||||||||||||||||||||||||||
347
|
Princeton, NJ |
Nassau Park Pavilion Route 1 & Quaker Bridge Road |
02071 | SC | Fee | 1999/2004 | 1 | * | 100% | 202,622 | $ | 3,994,278 | $ | 15.68 | 98.7% | Dicks Sporting Goods (2015), Michaels (2009), Wegmans Food Markets (2024), Kohls (2019) | ||||||||||||||||||||||||||
348
|
Union, NJ |
Route 22 Retail Shopping Center 2700 US Hwy. 22 E |
07083 | SC | Fee | 1997 | 2007 | 100% | 110,453 | $ | 1,388,842 | $ | 17.07 | 73.6% | Circuit City (2018), Babies R Us (2017), Target (Not Owned) | |||||||||||||||||||||||||||
349
|
West Long Branch, NJ | Monmouth Consumer Center 310 State Highway #36 | 07764 | SC | Fee | 1993 | 2004 | 100% | 292,999 | $ | 3,976,437 | $ | 13.69 | 99.1% | Sports Authority (2012), Barnes & Noble (2009), PetSmart (2009), Home Depot (2013) |
42
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
350
|
West Paterson, NJ |
West Falls Plaza 1730 Route 46 |
07424 | SC | Fee (3 | ) | 1995 | 2007 | 20% | 81,261 | $ | 1,917,571 | $ | 21.75 | 100% | A & P Company (2021) | ||||||||||||||||||||||||||
New Mexico | ||||||||||||||||||||||||||||||||||||||||||
351
|
Los Alamos, NM |
Mari Mac Village 800 Trinity Drive |
87533 | SC | Fee | 1978/1997 | 1/2 | * | 100% | 93,021 | $ | 664,046 | $ | 7.14 | 100% | Smiths Food & Drug (2012), Smiths Food & Drug (2013), Bealls(2009) | ||||||||||||||||||||||||||
New York | ||||||||||||||||||||||||||||||||||||||||||
352
|
Amherst, NY |
Boulevard Consumer Square 1641-1703 Niagara Falls Blvd. |
14228 | SC | Fee |
1998/2001/ 2003 |
2004 | 100% | 557,403 | $ | 6,069,510 | $ | 9.91 | 97% | Target (2019), Kmart (2008), Babies R Us (2015), Barnes & Noble (2014), Best Buy (2016), Bed Bath & Beyond (2018), A.C. Moore (2013), Lowes (2030) | |||||||||||||||||||||||||||
353
|
Amherst, NY |
Burlington Plaza 1551 Niagara Falls Boulevard |
14228 | SC | GL |
1978/1982/ 1990/1998 |
2004 | 100% | 199,504 | $ | 2,111,053 | $ | 10.80 | 98% | Burlington Coat Factory (2014), Jo-Ann Stores (2014) | |||||||||||||||||||||||||||
354
|
Amherst, NY |
Sheridan Harlem Plaza 4990 Harlem Road |
14226 | SC | Fee |
1960/1973/ 1982/1988/ 2003 |
2004 | 100% | 58,413 | $ | 651,694 | $ | 11.46 | 97.3% | ||||||||||||||||||||||||||||
355
|
Amherst, NY |
Tops Plaza - Amherst 3035 Niagara Falls Blvd. |
14226 | SC | Fee (3 | ) | 1986 | 2004 | 20% | 145,192 | $ | 1,149,834 | $ | 8.09 | 97.9% | Tops Markets (2010) | ||||||||||||||||||||||||||
356
|
Amherst, NY |
Tops Plaza - Transit/N. French 9660 Transit Road |
14226 | SC | Fee | 1998 | 2004 | 100% | 114,177 | $ | 1,119,261 | $ | 10.23 | 95.8% | Tops Markets (2016) | |||||||||||||||||||||||||||
357
|
Amherst, NY |
Eckerd Drug Store 2545 Millersport Hwy. |
14068 | SC | Fee | 2000 | 2007 | 100% | 10,908 | $ | 250,489 | $ | 22.96 | 100% | ||||||||||||||||||||||||||||
358
|
Arcade, NY |
Tops Plaza-Arcade Route 39 |
14009 | SC | Fee | 1995 | 2004 | 100% | 65,915 | $ | 662,409 | $ | 10.05 | 100% | Tops Markets (2015) | |||||||||||||||||||||||||||
359
|
Avon, NY |
Tops Plaza-Avon 270 E. Main Street |
14414 | SC | Fee (3 | ) | 1997/2002 | 2004 | 10% | 63,288 | $ | 454,162 | $ | 8.05 | 89.2% | Tops Markets (2017) | ||||||||||||||||||||||||||
360
|
Batavia, NY |
BJs Plaza 8326 Lewiston Road |
14020 | SC | Fee (3 | ) | 1996 | 2004 | 14.5% | 95,846 | $ | 831,569 | $ | 8.68 | 100% | BJs Wholesale Club (2016) | ||||||||||||||||||||||||||
361
|
Batavia, NY |
Batavia Commons 419 West Main St. |
14020 | SC | Fee (3 | ) | 1990 | 2004 | 14.5% | 49,431 | $ | 385,167 | $ | 9.05 | 86.1% | |||||||||||||||||||||||||||
362
|
Batavia, NY |
Martins Plaza 8351 Lewiston Road |
14020 | SC | Fee (3 | ) | 1994 | 2004 | 14.5% | 37,140 | $ | 496,328 | $ | 14.04 | 95.2% | Martins (Not Owned) | ||||||||||||||||||||||||||
363
|
Big Flats, NY |
Big Flats Consumer Square 830 County Route 64 |
14814 | SC | Fee | 1993/2001 | 2004 | 100% | 641,264 | $ | 6,019,104 | $ | 9.52 | 98.6% | Dicks Sporting Goods (2008), Wal-Mart (2013), Sams Club (2013), Tops Markets (2013), Bed Bath & Beyond (2014), Michaels (2010), Old Navy (2009), Staples (2011), Barnes & Noble (2011), T.J. Maxx (2013) |
43
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
364
|
Buffalo, NY |
Elmwood Regal Center 1951 - 2023 Elmwood Avenue |
14207 | SC | Fee | 1997 | 2004 | 100% | 133,940 | $ | 1,635,138 | $ | 14.71 | 83% | Regal Cinemas (2017), Office Depot (2012) | |||||||||||||||||||||||||||
365
|
Buffalo, NY |
Marshalls Plaza 2150 Delaware Avenue |
14216 | SC | Fee |
1960/1975/ 1983/1995 |
2004 | 100% | 82,196 | $ | 802,506 | $ | 11.03 | 88.5% | Marshalls (2009) | |||||||||||||||||||||||||||
366
|
Buffalo, NY |
Delaware Consumer Square 2636-2658 Delaware Avenue |
14216 | SC | GL | 1995 | 2004 | 100% | 238,531 | $ | 2,047,004 | $ | 8.95 | 95.9% | A.J. Wright (2012), Office Max (2012), Target (2015) | |||||||||||||||||||||||||||
367
|
Buffalo, NY |
Eckerd Drug Store #5661 1625 Broadway Street |
14212 | SC | Fee | 2000 | 2007 | 100% | 12,739 | $ | 280,861 | $ | 22.05 | 100% | ||||||||||||||||||||||||||||
368
|
Cheektowaga, NY |
Borders Books 2015 Walden Avenue |
14225 | SC | Fee (3 | ) | 1994 | 2004 | 14.5% | 26,500 | $ | 609,500 | $ | 23.00 | 100% | Borders (2015) | ||||||||||||||||||||||||||
369
|
Cheektowaga, NY |
Union Road Plaza 3637 Union Road |
14225 | SC | Fee (3 | ) |
1979/1982/ 1997/2003 |
2004 | 14.5% | 174,438 | $ | 1,111,969 | $ | 6.92 | 92.2% | Dicks Sporting Goods (2015) | ||||||||||||||||||||||||||
370
|
Cheektowaga, NY |
Thruway Plaza 2195 Harlem Road |
14225 | SC | Fee | 1997 | 2004 | 100% | 371,512 | $ | 2,756,010 | $ | 7.42 | 100% | Wal-Mart (2017), Movieland 8 Theatres (2019), Tops Markets (2019), A.J. Wright (2015), Value City Furniture (2009), M & T Bank (2017), Home Depot (Not Owned) | |||||||||||||||||||||||||||
371
|
Cheektowaga, NY |
Tops Plaza - Union Road 3825 - 3875 Union Road |
14225 | SC | Fee (3 | ) |
1978/1989/ 1995/2004 |
2004 | 20% | 151,357 | $ | 1,588,759 | $ | 11.37 | 92.3% | Tops Markets (2013) | ||||||||||||||||||||||||||
372
|
Cheektowaga, NY |
Union Consumer Square 3733 - 3735 Union Road |
14225 | SC | Fee (3 | ) | 1989 | 2004 | 14.5% | 386,548 | $ | 4,630,527 | $ | 12.20 | 98.2% | Marshalls (2009), Office Max (2010), Sams Club (2024), Circuit City (2016), Jo-Ann Stores (2015), Bed Bath & Beyond (2018) | ||||||||||||||||||||||||||
373
|
Cheektowaga, NY |
Walden Place 2130 - 2190 Walden Avenue |
14225 | SC | Fee (3 | ) | 1994/1999 | 2004 | 14.5% | 68,002 | $ | 617,737 | $ | 11.43 | 79.5% | |||||||||||||||||||||||||||
374
|
Cheektowaga, NY |
Consumer Square 1700 - 1750 Walden Avenue |
14225 | SC | Fee (3 | ) |
1997/ 1999/2004 |
2004 | 14.5% | 255,964 | $ | 2,423,853 | $ | 9.47 | 100% | Office Depot (2009), Linens N Things (2015), Michaels (2013), Target (2015) | ||||||||||||||||||||||||||
375
|
Cheektowaga, NY |
Eckerd Drug Store #5797 2401 Gennesee Street |
14225 | SC | Fee | 2000 | 2007 | 100% | 10,908 | $ | 335,592 | $ | 30.77 | 100% | ||||||||||||||||||||||||||||
376
|
Chili, NY |
Chili Plaza 800 Paul Road |
14606 | SC | Fee | 1998 | 2004 | 100% | 116,868 | $ | 748,189 | $ | 6.02 | 100% | Sears (2019) | |||||||||||||||||||||||||||
377
|
Clarence, NY |
Barnes & Noble 7370 Transit Road |
14031 | SC | Fee (3 | ) | 1992 | 2004 | 14.5% | 16,030 | $ | 304,249 | $ | 18.98 | 100% | |||||||||||||||||||||||||||
378
|
Clarence, NY |
Eastgate Plaza Transit & Greiner Roads |
14031 | SC | GL (3 | ) | 1995 | 2004 | 14.5% | 520,876 | $ | 3,994,706 | $ | 7.92 | 96.9% | BJs Wholesale Club (2021), Dicks Sporting Goods (2011), Linens N Things (2015), Michaels (2010), Wal-Mart (2019) |
44
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
379
|
Clarence, NY |
Jo-Ann Plaza 4101 Transit Road |
14221 | SC | Fee (3 | ) | 1994 | 2004 | 14.5% | 92,720 | $ | 743,588 | $ | 8.02 | 100% | Office Max (2009), Jo-Ann Stores (2015), Big Lots (2015), Home Depot (Not Owned) | ||||||||||||||||||||||||||
380
|
Dansville, NY |
Tops Plaza - Dansville 23-65 Franklin Street |
14437 | SC | Fee | 2001 | 2004 | 100% | 71,640 | $ | 673,449 | $ | 10.08 | 93.2% | Tops Markets (2021) | |||||||||||||||||||||||||||
381
|
Dewitt, NY |
Marshalls Plaza 3401 Erie Boulevard East |
13214 | SC | Fee | 2001/2003 | 2004 | 100% | 306,177 | $ | 3,102,865 | $ | 10.30 | 98.4% | Toys R Us (2018), Old Navy (2011), Marshalls (2019), Bed Bath & Beyond (2018), A.C. Moore (2014), Syracuse Orthopedic Specialist (2017) | |||||||||||||||||||||||||||
382
|
Dewitt, NY |
Michaels - Dewitt 3133 Erie Boulevard |
13214 | SC | Fee | 2002 | 2004 | 100% | 38,413 | $ | 480,166 | $ | 12.50 | 100% | Michaels (2010) | |||||||||||||||||||||||||||
383
|
Dunkirk, NY |
Eckerd Drug Store 1166 Central Avenue |
14048 | SC | GL | 2000 | 2007 | 100% | 10,908 | $ | 210,569 | $ | 19.30 | 100% | ||||||||||||||||||||||||||||
384
|
Elimira, NY |
Tops Plaza - Elmira Hudson Street |
14904 | SC | Fee (3 | ) | 1997 | 2004 | 10% | 98,330 | $ | 1,111,325 | $ | 11.30 | 100% | Tops Markets (2017) | ||||||||||||||||||||||||||
385
|
Gates, NY |
Westgate Plaza 2000 Chili Avenue |
14624 | SC | Fee | 1998 | 2004 | 100% | 334,752 | $ | 3,201,832 | $ | 9.77 | 97.9% | Wal-Mart (2021), Staples (2015) | |||||||||||||||||||||||||||
386
|
Greece, NY |
Jo-Ann/PetSmart Plaza 3042 West Ridge Road |
14626 | SC | Fee | 1993/1999 | 2004 | 100% | 75,916 | $ | 804,287 | $ | 10.59 | 100% | PetSmart (2008), Jo-Ann Stores (2015) | |||||||||||||||||||||||||||
387
|
Hamburg, NY |
BJs Plaza - Hamburg 4408 Milestrip Road |
14075 | SC | GL | 1990/1997 | 2004 | 100% | 175,965 | $ | 1,745,340 | $ | 10.27 | 96.6% | Office Max (2010), BJs Wholesale Club (2010) | |||||||||||||||||||||||||||
388
|
Hamburg, NY |
McKinley Place 3701 McKinley Parkway |
14075 | SC | Fee | 2001 | 2004 | 100% | 128,944 | $ | 1,536,206 | $ | 12.13 | 98.3% | Dicks Sporting Goods (2011), Rosas Home Store (2009) | |||||||||||||||||||||||||||
389
|
Hamburg, NY |
Home Depot Plaza - Hamburg 4405 Milestrip Road |
14219 | SC | GL | 1999/2000 | 2004 | 100% | 139,413 | $ | 1,519,710 | $ | 10.90 | 100% | Home Depot (2012) | |||||||||||||||||||||||||||
390
|
Hamburg, NY |
McKinley Milestrip Center 3540 McKinley Parkway |
14075 | SC | Fee | 1999 | 2004 | 100% | 106,774 | $ | 1,472,383 | $ | 13.79 | 100% | Old Navy (2010), Jo-Ann Stores (2015) | |||||||||||||||||||||||||||
391
|
Hamburg, NY |
South Park Plaza - Tops 6150 South Park Avenue |
14075 | SC | Fee (3 | ) | 1990/1992 | 2004 | 10% | 84,000 | $ | 730,500 | $ | 8.70 | 100% | Tops Markets (2015) | ||||||||||||||||||||||||||
392
|
Hamlin, NY |
Tops Plaza - Hamlin 1800 Lake Road |
14464 | SC | Fee (3 | ) | 1997 | 2004 | 10% | 60,488 | $ | 465,592 | $ | 8.33 | 92.4% | Tops Markets (2017) | ||||||||||||||||||||||||||
393
|
Irondequoit, NY |
Culver Ridge Plaza 2255 Ridge Road East |
14622 | SC | Fee (3 | ) |
1972/1984/ 1997 |
2004 | 20% | 226,812 | $ | 2,316,037 | $ | 11.34 | 90% | Regal Cinemas (2022), A.J. Wright (2014) | ||||||||||||||||||||||||||
394
|
Ithaca, NY |
Tops Plaza - Ithaca 614 - 722 South Meadow |
14850 | SC | Fee |
1990/ 1999/2003 |
2004 | 100% | 229,320 | $ | 3,650,658 | $ | 16.43 | 96.9% | Office Depot (2014), Tops Markets (2022), Michaels (2013), Barnes & Noble (2018) | |||||||||||||||||||||||||||
395
|
Jamestown, NY |
Tops Plaza - Jamestown 75 Washington Street |
14702 | SC | Fee (3 | ) | 1997 | 2004 | 20% | 98,001 | $ | 975,575 | $ | 11.88 | 83.8% | Tops Markets (2018) | ||||||||||||||||||||||||||
396
|
Lancaster, NY |
Regal Center 6703-6733 Transit Road |
14221 | SC | Fee (3 | ) | 1997 | 2004 | 14.5% | 112,949 | $ | 897,447 | $ | 8.66 | 91.8% | Regal Cinemas (2017) |
45
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
397
|
Leroy, NY |
Tops Plaza - Leroy 128 West Main Street |
14482 | SC | Fee (3 | ) | 1997 | 2004 | 20% | 62,747 | $ | 584,903 | $ | 9.32 | 100% | Tops Markets (2017) | ||||||||||||||||||||||||||
398
|
Lockport, NY |
Wal-Mart/Tops Plaza - Lockport 5789 & 5839 Transit Rd. & Hamm |
14094 | SC | GL | 1993 | 2004 | 100% | 296,582 | $ | 2,731,435 | $ | 9.21 | 100% | Wal-Mart (2015), Tops Markets (2021), Sears (2011) | |||||||||||||||||||||||||||
399
|
N. Tonawanda, NY |
Mid-City Plaza 955-987 Payne Avenue |
14120 | SC | Fee |
1997/1960/ 1976/1980/ 1995/2004 |
2004 | 100% | 224,949 | $ | 2,050,459 | $ | 11.76 | 77.5% | Tops Markets (2024) | |||||||||||||||||||||||||||
400
|
New Hartford, NY |
Consumer Square 4725 - 4829 Commercial Drive |
13413 | SC | Fee (3 | ) | 2002 | 2004 | 14.5% | 514,717 | $ | 6,218,620 | $ | 12.08 | 100% | Barnes & Noble (2013), Bed Bath & Beyond (2018), Best Buy (2013), Staples (2018), Michaels (2013), Wal-Mart (2022), T.J. Maxx (2012) | ||||||||||||||||||||||||||
401
|
New Hartford, NY |
Tops Plaza - New Hartford 40 Kellogg Road |
13413 | SC | Fee | 1998 | 2004 | 100% | 127,777 | $ | 1,139,310 | $ | 12.20 | 73.1% | Hannaford Brothers (2018) | |||||||||||||||||||||||||||
402
|
Niagara Falls, NY |
Regal Cinemas - Niagara Falls 720 & 750 Builders Way |
14304 | SC | Fee | 1994/2000 | 2004 | 100% | 43,170 | $ | 577,615 | $ | 13.38 | 100% | Regal Cinemas (2019) | |||||||||||||||||||||||||||
403
|
Niskayuna, NY |
Mohawk Commons 402 - 442 Balltown Road |
12121 | SC | Fee | 2002 | 2004 | 100% | 399,901 | $ | 4,667,744 | $ | 11.47 | 100% | Price Chopper (2022), Lowes (2022), Marshalls (2012), Barnes & Noble (2014), Bed Bath & Beyond (2019), Target (Not Owned) | |||||||||||||||||||||||||||
404
|
Norwich, NY |
Tops Plaza-Norwich 54 East Main Street |
13815 | SC | GL (3 | ) | 1997 | 2004 | 10% | 85,453 | $ | 1,093,185 | $ | 12.98 | 98.6% | Tops Markets (2018) | ||||||||||||||||||||||||||
405
|
Olean, NY |
Wal-Mart Plaza - Olean 3142 West State Street |
14760 | SC | Fee | 1993/2004 | 2004 | 100% | 285,400 | $ | 2,191,941 | $ | 8.18 | 93.9% | Wal-Mart (2014), Eastwynn Theatres (2014), BJs Wholesale Club (2014), Home Depot (Not Owned) | |||||||||||||||||||||||||||
406
|
Ontario, NY |
Tops Plaza - Ontario Blockbuster 6254 - 6272 Furnace Road |
14519 | SC | Fee (3 | ) | 1998 | 2004 | 20% | 77,040 | $ | 735,576 | $ | 10.21 | 93.5% | Tops Markets (2019) | ||||||||||||||||||||||||||
407
|
Orchard Park, NY |
Crossroad Plaza 3245 Southwestern Boulevard |
14127 | SC | Fee (3 | ) | 2000 | 2004 | 20% | 167,805 | $ | 1,838,877 | $ | 11.71 | 93.5% | Tops Markets (2022), Stein Mart (2012) | ||||||||||||||||||||||||||
408
|
Plattsburgh, NY |
Consumer Square Rte. 3 - Cornelia Road |
12901 | SC | Fee | 1993/2004 | 2004 | 100% | 491,513 | $ | 3,438,584 | $ | 7.28 | 96.1% | Sams Club (2013), Wal-Mart (2020), T.J. Maxx (2013), PetSmart (2014), Michaels (2011) | |||||||||||||||||||||||||||
409
|
Rochester, NY |
Panorama Plaza 1601 Penfield Road |
14625 | SC | Fee (3 | ) |
1959/1965/ 1972/1980/ 1986/1994 |
2004 | 20% | 278,241 | $ | 3,215,586 | $ | 12.65 | 91.4% | Linens N Things (2013), Tops Markets (2014) |
46
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
410
|
Rome, NY |
Freedom Plaza 205-211 Erie Boulevard West |
13440 | SC | Fee |
1978/2000/ 2001 |
2004 | 100% | 194,467 | $ | 1,228,712 | $ | 6.05 | 100% | Staples (2015), JCPenney (2017), Tops Markets (2021), Marshalls (2016) | |||||||||||||||||||||||||||
411
|
Tonawanda, NY |
Youngman Plaza 750 Young Street |
14150 | SC | Fee (3 | ) | 1985/2003 | 2004 | 10% | 185,359 | $ | 1,282,449 | $ | 7.02 | 94.8% | BJs Wholesale Club (2010), Big Lots (2012) | ||||||||||||||||||||||||||
412
|
Tonawanda, NY |
Office Depot Plaza 2309 Eggert Road |
14150 | SC | Fee |
1976/1985/ 1996 |
2004 | 100% | 121,846 | $ | 995,460 | $ | 10.40 | 78.6% | Best Fitness (2025), Office Depot (2011) | |||||||||||||||||||||||||||
413
|
Tonawanda, NY |
Sheridan/Delaware Plaza 1692-1752 Sheridan Drive |
14223 | SC | Fee |
1950/1965/ 1975/1986/ 2000 |
2004 | 100% | 188,200 | $ | 1,347,006 | $ | 7.18 | 99.7% | Bon Ton Home Store (2010), Tops Markets (2020) | |||||||||||||||||||||||||||
414
|
Tonawanda, NY | Tops Plaza-Niagara Street 150 Niagara Street | 14150 | SC | Fee (3 | ) | 1997 | 2004 | 10% | 97,014 | $ | 1,056,710 | $ | 12.03 | 90.6% | Tops Markets (2017) | ||||||||||||||||||||||||||
415
|
Victor, NY |
Victor Square 2-10 Commerce Drive |
14564 | SC | Fee | 2000 | 2004 | 100% | 56,134 | $ | 966,872 | $ | 17.22 | 100% | ||||||||||||||||||||||||||||
416
|
Warsaw, NY |
Tops Plaza - Warsaw 2382 Route 19 |
14569 | SC | Fee (3 | ) | 1998 | 2004 | 20% | 74,105 | $ | 542,523 | $ | 8.30 | 88.2% | Tops Markets (2015) | ||||||||||||||||||||||||||
417
|
West Seneca, NY |
Home Depot Plaza 1881 Ridge Road |
14224 | SC | GL |
1975/1983/ 1987/1995 |
2004 | 100% | 139,453 | $ | 1,401,687 | $ | 10.37 | 96.9% | Home Depot (2016) | |||||||||||||||||||||||||||
418
|
West Seneca, NY |
Seneca - Ridge Plaza 3531 Seneca Street |
14224 | SC | Fee |
1980/1996/ 2004 |
2004 | 100% | 62,403 | $ | 294,082 | $ | 11.86 | 39.7% | ||||||||||||||||||||||||||||
419
|
Williamsville, NY |
Williamsville Place 5395 Sheridan Drive |
14221 | SC | Fee |
1986/1995/ 2003 |
2004 | 100% | 103,046 | $ | 1,174,447 | $ | 14.21 | 80.2% | ||||||||||||||||||||||||||||
420
|
Williamsville, NY |
Premier Place 7864 - 8020 Transit Road |
14221 | SC | Fee (3 | ) |
1986/1994/ 1998 |
2004 | 14.5% | 142,536 | $ | 1,334,980 | $ | 10.87 | 86.1% | Premier Liquors (2010), Stein Mart (2008) | ||||||||||||||||||||||||||
North Carolina | ||||||||||||||||||||||||||||||||||||||||||
421
|
Apex, NC | Beaver Creek Crossings South 1335 W. Williams Street | 27502 | SC | Fee | 2006 | 1* | 100% | 235,646 | $ | 3,356,021 | $ | 13.27 | 100% | Dicks Sporting Goods (2017), Consolidated Theatres (2026), T.J. Maxx (2016), Circuit City (2022), Borders (2022) | |||||||||||||||||||||||||||
422
|
Apex, NC | Beaver Creek Commons 1335 W. Williams Street | 27502 | SC | Fee (3 | ) | 2005 | 1* | 10% | 110,429 | $ | 2,420,390 | $ | 16.38 | 95.5% | Linens N Things (2016), Office Max (2014), Lowes (Not Owned), Target (Not Owned) | ||||||||||||||||||||||||||
423
|
Asheville, NC |
Oakley Plaza Fairview Rd. at Interstate 240 |
28801 | SC | Fee | 1988 | 2007 | 100% | 129,259 | $ | 974,448 | $ | 8.31 | 90.7% | Babies R Us (2011), BI-LO (2016) | |||||||||||||||||||||||||||
424
|
Asheville, NC |
River Hills 299 Swannanoa River Road |
28805 | SC | Fee (3 | ) | 1996 | 2003 | 14.5% | 190,970 | $ | 2,073,592 | $ | 10.86 | 100% | Goodys (2009), Carmike Cinemas (2017), Circuit City (2017), Dicks Sporting Goods (2017), Michaels (2008), Office Max (2011) | ||||||||||||||||||||||||||
425
|
Cary, NC |
Circuit City - Cary 1401 Piney Plains Rd. |
27511 | SC | Fee | 2000 | 2007 | 100% | 27,891 | $ | 526,500 | $ | 18.88 | 100% | Circuit City (2022) |
47
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
426
|
Cary, NC |
Mill Pond Village 3434-3490 Kildaire Farm Road |
27512 | SC | Fee | 2004 | 2007 | 100% | 88,784 | $ | 1,240,102 | $ | 13.96 | 96.4% | Lowes Foods (2021) | |||||||||||||||||||||||||||
427
|
Chapel Hill, NC | Meadowmont Village Center W. Barbee Chapel Rd. | 27517 | SC | Fee (3 | ) | 2002 | 2007 | 20% | 132,745 | $ | 2,386,086 | $ | 20.33 | 88.4% | Harris Teeter Supermarkets (2022) | ||||||||||||||||||||||||||
428
|
Charlotte, NC |
BJs Wholesale Club 6030 Independence Blvd. |
28212 | SC | Fee | 2002 | 2007 | 100% | 99,792 | $ | 1,173,448 | $ | 11.76 | 100% | BJs Wholesale Club (2022) | |||||||||||||||||||||||||||
429
|
Charlotte, NC |
Camfield Corners 8620 Camfield Street |
28277 | SC | Fee | 1994 | 2007 | 100% | 69,910 | $ | 806,052 | $ | 12.38 | 93.1% | BI-LO (2014) | |||||||||||||||||||||||||||
430
|
Clayton, NC |
Clayton Corners US Highway 70 West |
27520 | SC | Fee (3 | ) | 1999 | 2007 | 20% | 125,653 | $ | 1,368,275 | $ | 11.37 | 95.8% | Lowes Foods (2019) | ||||||||||||||||||||||||||
431
|
Concord, NC |
Eckerd Drug Store - Concord Highway #29 at Pitts School |
28027 | SC | Fee | 2002 | 2007 | 100% | 10,908 | $ | 227,814 | $ | 20.89 | 100% | ||||||||||||||||||||||||||||
432
|
Cornelius, NC | Southlake Shopping Center 20601 Torrence Chapel Road | 28031 | SC | Fee | 2001 | 2007 | 100% | 131,247 | $ | 1,229,497 | $ | 10.40 | 90.1% | Stein Mart (2013), Harris Teeter Supermarkets (2009) | |||||||||||||||||||||||||||
433
|
Durham, NC |
Patterson Place 3616 Witherspoon Blvd. |
27707 | SC | Fee (3 | ) | 2004 | 2007 | 20% | 161,017 | $ | 2,345,275 | $ | 16.07 | 90.6% | DSW Shoe Warehouse (2016), A.C. Moore (2014), Bed Bath & Beyond (2020) | ||||||||||||||||||||||||||
434
|
Durham, NC |
Oxford Commons 3500 Oxford Road |
27702 | SC | Fee | 1990/2001 | 1/2 | * | 100% | 203,069 | $ | 1,332,475 | $ | 6.91 | 94.9% | Food Lion (2010), Burlington Coat Factory (2012), Wal-Mart (Not Owned) | ||||||||||||||||||||||||||
435
|
Durham, NC |
South Square 4001 Durham Chapel |
27707 | SC | Fee (3 | ) | 2005 | 2007 | 20% | 107,812 | $ | 1,663,669 | $ | 14.97 | 100% | Office Depot (2010), Ross Dress For Less (2015) | ||||||||||||||||||||||||||
436
|
Fayetteville, NC |
Cross Pointe Centre 5075 Morganton Road |
28314 | SC | Fee | 1985/2003 | 2003 | 100% | 196,279 | $ | 1,515,473 | $ | 8.17 | 94.5% | T.J. Maxx (2011), Bed Bath & Beyond (2014) | |||||||||||||||||||||||||||
437
|
Fayetteville, NC |
Fayetteville Pavilion 2061 Skibo Road |
28314 | SC | Fee (3 | ) | 1998/2001 | 2007 | 20% | 272,385 | $ | 3,090,242 | $ | 11.35 | 100% | Dicks Sporting Goods (2017), Linens N Things (2016), PetSmart (2016), Creative Basket Expressions (2020), Marshalls (2008), Michaels (2009) | ||||||||||||||||||||||||||
438
|
Fuquay Varina, NC | Sexton Commons 1420 N. Main St. | 27526 | SC | Fee (3 | ) | 2002 | 2007 | 20% | 49,097 | $ | 766,584 | $ | 15.61 | 100% | Harris Teeter Supermarkets (2021) | ||||||||||||||||||||||||||
439
|
Greensboro, NC |
Adams Farm 5710 High Point Road |
27407 | SC | Fee | 2004 | 2007 | 100% | 112,195 | $ | 1,025,841 | $ | 10.30 | 88.8% | Harris Teeter Supermarkets (2008) | |||||||||||||||||||||||||||
440
|
Greensboro, NC |
Golden Gate East Cornwallis Dr. |
27405 | SC | Fee | 1962/2002 | 2007 | 100% | 153,113 | $ | 1,129,416 | $ | 8.46 | 87.2% | Harris Teeter Supermarkets (2011), Staples (2016), Food Lion (2012) | |||||||||||||||||||||||||||
441
|
Greensboro, NC |
Shoppes at Wendover Village I 4203-4205 West Wendover Avenue |
27407 | SC | Fee | 2004 | 2007 | 100% | 35,895 | $ | 800,113 | $ | 25.02 | 89.1% | Costco (Not Owned) |
48
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
442
|
Greensboro, NC |
Wendover II West Wendover Ave. |
27407 | SC | Fee (3 | ) | 2004 | 2007 | 20% | 135,004 | $ | 2,004,120 | $ | 15.34 | 96.8% | A.C. Moore (2014), Circuit City (2020), Sofa Connection (2014) | ||||||||||||||||||||||||||
443
|
Huntersville, NC |
DDRTC Birkdale Village LLC 8712 Lindholm Dr., Suite 206 |
28078 | LC | Fee (3 | ) | 2002/2003 | 2007 | 15% | 301,271 | $ | 6,775,105 | $ | 24.40 | 91.7% | Barnes & Noble (2013), Dicks Sporting Goods (2018) | ||||||||||||||||||||||||||
444
|
Huntersville, NC | Rosedale Shopping Center 9911 Rose Commons Dr. | 28078 | SC | Fee (3 | ) | 2000 | 2007 | 20% | 119,197 | $ | 1,903,349 | $ | 16.25 | 98.3% | Harris Teeter Supermarkets (2020) | ||||||||||||||||||||||||||
445
|
Indian Trail, NC | Union Town Center Independence & Faith Church Rd. | 28079 | SC | Fee | 1999 | 2004 | 100% | 96,160 | $ | 851,028 | $ | 10.74 | 82.4% | Food Lion (2020) | |||||||||||||||||||||||||||
446
|
Jacksonville, NC | Gateway Plaza - Jacksonville SEC Western Blvd. & Gateway South | 28546 | SC | Fee (3 | ) | 2001 | 2007 | 15% | 101,413 | $ | 1,125,463 | $ | 11.10 | 100% | Bed Bath & Beyond (2013), Ross Dress For Less (2013), Target (Not Owned), Lowes (Not Owned) | ||||||||||||||||||||||||||
447
|
Matthews, NC | Sycamore Commons Matthews Township Pky. & Northeast Pky. | 28105 | SC | Fee (3 | ) | 2002 | 2007 | 15% | 265,860 | $ | 4,486,586 | $ | 17.23 | 97.9% | Michaels (2012), Bed Bath & Beyond (2012), Dicks Sporting Goods (2017), Old Navy (2011), Circuit City (2023), Costco (Not Owned), Lowes (Not Owned) | ||||||||||||||||||||||||||
448
|
Mooresville, NC |
Mooresville Consumer Square I 355 West Plaza Drive |
28117 | SC | Fee | 1999/2006 | 2006 | 100% | 472,182 | $ | 4,300,251 | $ | 9.45 | 96.4% | Wal-Mart (2019), Goodys (2010), Gander Mountain (2021) | |||||||||||||||||||||||||||
449
|
Mooresville, NC |
Winslow Bay Commons Bluefield Road & Highway 150 |
28117 | SC | Fee (3 | ) | 2003 | 2007 | 15% | 255,798 | $ | 3,412,149 | $ | 12.88 | 98.4% | Ross Dress For Less (2014), Linens N Things (2014), Dicks Sporting Goods (2019), T.J. Maxx (2013), Michaels (2013), Super Target (Not Owned) | ||||||||||||||||||||||||||
450
|
New Bern, NC |
Rivertowne Square 3003 Claredon Blvd. |
28561 | SC | Fee | 1989/1999 | 1/2 | * | 100% | 68,130 | $ | 625,798 | $ | 9.36 | 98.2% | Goodys (2012), Wal-Mart (Not Owned) | ||||||||||||||||||||||||||
451
|
Raleigh, NC |
Alexander Place Glenwood Ave. & Brier Creek Pky. |
27617 | SC | Fee (3 | ) | 2004 | 2007 | 15% | 158,298 | $ | 2,257,172 | $ | 14.77 | 96.5% | Kohls (2025), Super Wal-Mart (Not Owned) | ||||||||||||||||||||||||||
452
|
Raleigh, NC |
Capital Crossing 2900-2950 East Mill Brook Road |
27613 | SC | Fee | 1995 | 2007 | 100% | 83,248 | $ | 888,670 | $ | 10.68 | 99.9% | Lowes Foods (2015), Staples (2011) | |||||||||||||||||||||||||||
453
|
Raleigh, NC |
Eckerd Drug Store - Perry Creek US Highway 401 & Perry Creek Road |
27616 | SC | Fee | 2003 | 2007 | 100% | 10,908 | $ | 284,571 | $ | 26.09 | 100% | ||||||||||||||||||||||||||||
454
|
Raleigh, NC |
Wakefield Crossing Wakefield Pines Dr. & New Falls of Neuse |
27614 | SC | Fee | 2001 | 2007 | 100% | 75,927 | $ | 930,397 | $ | 13.41 | 91.4% | Food Lion (2022) | |||||||||||||||||||||||||||
455
|
Salisbury, NC |
Alexander Pointe 850 Jake Alexander Blvd. |
28144 | SC | Fee (3 | ) | 1997 | 2007 | 20% | 57,710 | $ | 615,494 | $ | 11.21 | 95.1% | Harris Teeter Supermarkets (2017) |
49
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
456
|
Siler City, NC |
Chatham Crossing US Highway 64 West |
27344 | SC | Fee (3 | ) | 2002 | 2007 | 15% | 31,979 | $ | 433,664 | $ | 13.56 | 100% | Super Wal-Mart (Not Owned) | ||||||||||||||||||||||||||
457
|
Southern Pines, NC |
BI-LO - Southern Pines US Hwy. 15-501 |
28387 | SC | Fee (3 | ) | 2002 | 2007 | 15% | 57,404 | $ | 512,112 | $ | 10.83 | 82.4% | Stein Mart (2016) | ||||||||||||||||||||||||||
458
|
Wake Forest, NC |
Capital Plaza 11825 Retail Drive |
27587 | SC | Fee (3 | ) | 2004 | 2007 | 15% | 46,793 | $ | 586,308 | $ | 13.57 | 92.3% | Home Depot (Not Owned), Super Target (Not Owned) | ||||||||||||||||||||||||||
459
|
Washington, NC |
Pamlico Plaza 536 Pamlico Plaza |
27889 | SC | Fee | 1990/1999 | 1/2 | * | 100% | 80,269 | $ | 570,040 | $ | 7.10 | 100% | Goodys (2009), Office Depot (2009), Wal-Mart (Not Owned) | ||||||||||||||||||||||||||
460
|
Wilmington, NC |
University Centre S. College Rd. & New Centre Dr. |
28403 | SC | Fee | 1989/2001 | 1/2 | * | 100% | 411,887 | $ | 3,639,848 | $ | 9.46 | 93.5% | Lowes (2014), Old Navy (2011), Bed Bath & Beyond (2012), Ross Dress For Less (2012), Steve & Barrys (2014), Badcock Furniture (2014), Sams Club (Not Owned) | ||||||||||||||||||||||||||
461
|
Wilmington, NC | Oleander Shopping Center 3804 Oleander Drive | 28401 | SC | GL | 1989 | 2007 | 100% | 51,888 | $ | 578,191 | $ | 11.14 | 100% | Lowes Foods (2015) | |||||||||||||||||||||||||||
462
|
Wilson, NC |
Forest Hills Centre 1700 Raleigh Rd. NW. |
27896 | SC | Fee | 1989 | 2007 | 100% | 73,280 | $ | 639,495 | $ | 9.60 | 90.9% | Harris Teeter Supermarkets (2010) | |||||||||||||||||||||||||||
463
|
Winston-Salem, NC |
Harper Hill Commons 5049 Country Club Rd. |
27104 | SC | Fee (3 | ) | 2004 | 2007 | 20% | 55,394 | $ | 1,355,030 | $ | 19.86 | 93.8% | Harris Teeter Supermarkets (2024) | ||||||||||||||||||||||||||
464
|
Winston-Salem, NC |
Oak Summit East Hanes Mill Road |
27105 | SC | Fee (3 | ) | 2003 | 2007 | 15% | 142,394 | $ | 1,780,227 | $ | 12.50 | 100% | Goodys (2016), Staples (2016), PetSmart (2020), Super Wal-Mart (Not Owned) | ||||||||||||||||||||||||||
465
|
Winston-Salem, NC | Shops at Oliver Crossing Peters Creek Pky. Oliver Crossing | 27127 | SC | Fee (3 | ) | 2003 | 2007 | 20% | 76,512 | $ | 945,326 | $ | 12.59 | 98.2% | Lowes Foods (2023) | ||||||||||||||||||||||||||
466
|
Winston-Salem, NC |
Super Wal-Mart - Winston-Salem 4550 Kester Mill Rd. |
27103 | SC | Fee | 1998 | 2007 | 100% | 204,931 | $ | 1,403,777 | $ | 6.85 | 100% | Wal-Mart (2017) | |||||||||||||||||||||||||||
North Dakota | ||||||||||||||||||||||||||||||||||||||||||
467
|
Dickinson, ND |
Prairie Hills Mall 1681 Third Avenue |
58601 | MM | Fee | 1978 | 1/2 | * | 100% | 266,502 | $ | 1,042,983 | $ | 4.51 | 86.7% | Kmart (2008), Herbergers (2010), JCPenney (2008) | ||||||||||||||||||||||||||
Ohio | ||||||||||||||||||||||||||||||||||||||||||
468
|
Alliance, OH | Super Wal-Mart - Alliance 2700 West State St. | 44601 | SC | Fee | 1998 | 2007 | 100% | 200,084 | $ | 1,190,500 | $ | 5.95 | 100% | Wal-Mart (2017) | |||||||||||||||||||||||||||
469
|
Ashtabula, OH | Tops Plaza - Ashtabula 1144 West Prospect Road | 44004 | SC | Fee | 2000 | 2004 | 100% | 57,874 | $ | 816,400 | $ | 14.61 | 96.5% | Tops Markets (2021) | |||||||||||||||||||||||||||
470
|
Aurora, OH |
Barrington Town Square 70-130 Barrington Town Square |
44202 | SC | Fee | 1996/2004 | 1 | * | 100% | 102,683 | $ | 1,046,251 | $ | 11.82 | 84.3% | Cinemark (2011), Heinens (Not Owned) |
50
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
471
|
Boardman, OH |
Southland Crossing I-680 & US Route 224 |
44514 | SC | Fee | 1997 | 1 | * | 100% | 506,254 | $ | 4,174,737 | $ | 8.26 | 98.6% | Lowes (2016), Babies R Us (2009), Staples (2012), Dicks Sporting Goods (2012), Wal-Mart (2017), PetSmart (2013), Giant Eagle (2018) | ||||||||||||||||||||||||||
472
|
Canton, OH |
Belden Park Crossings 5496 Dressler Road |
44720 | SC | Fee (3 | ) |
1995/2001/ 2003 |
1 | * | 14.5% | 478,106 | $ | 5,278,123 | $ | 11.12 | 99.3% | Value City Furniture (2011), H.H. Gregg Appliances (2011), Jo-Ann Stores (2013), PetSmart (2013), Dicks Sporting Goods (2010), DSW Shoe Warehouse (2012), Kohls (2016), Target (Not Owned) | |||||||||||||||||||||||||
473
|
Chillicothe, OH | Chillicothe Place 867 N. Bridge Street | 45601 | SC | GL (3 | ) | 1974/1998 | 1/2 | * | 20% | 106,262 | $ | 972,293 | $ | 10.11 | 90.5% | Kroger (2041), Office Max (2013) | |||||||||||||||||||||||||
474
|
Chillicothe, OH | Chillicothe Place (Lowes) 867 N. Bridge Street | 45601 | SC | Fee | 1998 | 1981 | 100% | 130,497 | $ | 822,132 | $ | 6.30 | 100% | Lowes (2015) | |||||||||||||||||||||||||||
475
|
Cincinnati, OH |
Glenway Crossing 5100 Glencrossing Way |
45238 | SC | Fee | 1990 | 1993 | 100% | 235,433 | $ | 2,039,033 | $ | 10.83 | 80% | Steve & Barrys (2014), Michaels (2011) | |||||||||||||||||||||||||||
476
|
Cincinnati, OH |
Kroger - Cincinnati 6401 Colerain Ave. |
45239 | SC | Fee | 1998 | 2007 | 100% | 56,634 | $ | 556,486 | $ | 9.83 | 100% | Kroger (2015) | |||||||||||||||||||||||||||
477
|
Cincinnati, OH |
Tri-County Mall 11700 Princeton Pike |
45246 | SC | Fee (3 | ) |
1960/1990/ 1992 |
2005 | 18% | 717,719 | $ | 10,128,907 | $ | 16.83 | 88.3% | Dillards (2018), Sears (2019), Macys (Not Owned), Krazy City (2023) | ||||||||||||||||||||||||||
478
|
Columbus, OH |
Consumer Square West Columbus 3630 Soldano Blvd. |
43228 | SC | Fee | 1989/2003 | 2004 | 100% | 356,515 | $ | 2,164,826 | $ | 7.25 | 83.7% | Kroger (2014), Target (2011) | |||||||||||||||||||||||||||
479
|
Columbus, OH |
Dublin Village Center 6561-6815 Dublin Center Drive |
43017 | SC | Fee | 1987 | 1998 | 100% | 190,927 | $ | 557,948 | $ | 4.36 | 67% | AMC Theatres (2007), Max Sports Center (2008), BJs Wholesale Club (Not Owned) | |||||||||||||||||||||||||||
480
|
Columbus, OH |
Easton Market 3740 Easton Market |
43230 | SC | Fee | 1998 | 1998 | 100% | 509,611 | $ | 5,920,158 | $ | 12.23 | 95% | CompUSA (2013), Staples (2013), PetSmart (2014), Golfsmith Golf Center (2013), Michaels (2008), Dicks Sporting Goods (2013), DSW Shoe Warehouse (2012), Kittles Home Furnishings (2012), Bed Bath & Beyond (2014), T.J. Maxx (2008) | |||||||||||||||||||||||||||
481
|
Columbus, OH |
Lennox Town Center 1647 Olentangy River Road |
43212 | SC | Fee (3 | ) | 1997 | 1998 | 50% | 352,913 | $ | 3,549,339 | $ | 10.06 | 100% | Target (2016), Barnes & Noble (2012), Staples (2011), AMC Theatres (2021) |
51
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
482
|
Columbus, OH |
Sun Center 3622-3860 Dublin Granville Rd. |
43017 | SC | Fee (3 | ) | 1995 | 1998 | 79.45% | 305,428 | $ | 3,742,511 | $ | 12.25 | 100% | Babies R Us (2011), Michaels (2013), Ashley Furniture Homestore (2012), Stein Mart (2012), Whole Foods (2016), Staples (2010) | ||||||||||||||||||||||||||
483
|
Columbus, OH |
Hilliard Rome 1710-60 Hilliard Rome Road |
43026 | SC | Fee (3 | ) | 2001 | 2007 | 20% | 110,871 | $ | 1,495,788 | $ | 13.49 | 100% | Giant Eagle (2022) | ||||||||||||||||||||||||||
484
|
Dublin, OH |
Perimeter Center 6644-6804 Perimeter Loop Road |
43017 | SC | Fee | 1996 | 1998 | 100% | 137,556 | $ | 1,586,737 | $ | 11.64 | 99.1% | Giant Eagle (2014) | |||||||||||||||||||||||||||
485
|
Elyria, OH |
Elyria Shopping Center 841 Cleveland |
44035 | SC | Fee | 1977 | 2 | * | 100% | 92,125 | $ | 704,695 | $ | 7.65 | 100% | Giant Eagle (2010) | ||||||||||||||||||||||||||
486
|
Gallipolis, OH |
Gallipolis Marketplace 2145 Eastern Avenue |
45631 | SC | Fee | 1998 | 2003 | 100% | 25,950 | $ | 321,798 | $ | 13.66 | 90.8% | Wal-Mart (Not Owned) | |||||||||||||||||||||||||||
487
|
Grove City, OH |
Derby Square Shopping Center 2161-2263 Stringtown Road |
43123 | SC | Fee (3 | ) | 1992 | 1998 | 20% | 128,250 | $ | 1,077,071 | $ | 9.38 | 89.6% | Giant Eagle (2016) | ||||||||||||||||||||||||||
488
|
Huber Hts., OH |
North Heights Plaza 8280 Old Troy Pike |
45424 | SC | Fee | 1990 | 1993 | 100% | 183,015 | $ | 632,461 | $ | 15.46 | 22.4% | Wal-Mart (Not Owned) | |||||||||||||||||||||||||||
489
|
Lebanon, OH |
Countryside Place 1879 Deerfield Road |
45036 | SC | Fee | 1990/2002 | 1993 | 100% | 17,000 | $ | 63,970 | $ | 12.37 | 30.4% | Wal-Mart (Not Owned), Erb Lumber (Not Owned) | |||||||||||||||||||||||||||
490
|
Macedonia, OH | Macedonia Commons Macedonia Commons Blvd. | 44056 | SC | Fee (3 | ) | 1994 | 1994 | 50% | 236,749 | $ | 3,192,824 | $ | 12.37 | 100% | Tops Markets (2019), Kohls (2016), Wal-Mart (Not Owned) | ||||||||||||||||||||||||||
491
|
Macedonia, OH |
Macedonia Commons (Phase II) 8210 Macedonia Commons |
44056 | SC | Fee | 1999 | 1/2 | * | 100% | 169,481 | $ | 1,601,734 | $ | 9.45 | 100% | Cinemark (2019), Home Depot (2020) | ||||||||||||||||||||||||||
492
|
North Olmsted, OH |
Great Northern Plaza North 2589-26437 Great Northern |
44070 | SC | Fee (3 | ) |
1958/1998/ 2003 |
1997 | 14.5% | 624,587 | $ | 8,281,338 | $ | 13.27 | 99.5% | DSW Shoe Warehouse (2015), Best Buy (2010), Marshalls (2008), Bed Bath & Beyond | ||||||||||||||||||||||||||
(2012), PetSmart (2008), Steve & Barrys (2014), Home Depot (2019), K & G Menswear (2013), Jo-Ann Stores (2009), Marcs (2012), Remington College (Not Owned), CompUSA (2008) | ||||||||||||||||||||||||||||||||||||||||||
493
|
Solon, OH |
Uptown Solon Kruse Drive |
44139 | SC | Fee | 1998 | 1 | * | 100% | 183,255 | $ | 2,965,114 | $ | 16.18 | 100% | Mustard Seed Market & Cafe (2019), Bed Bath & Beyond (2009), Borders (2018) | ||||||||||||||||||||||||||
494
|
Steubenville, OH |
Lowes Home Improvement - Steubenville 4115 Mall Drive |
43952 | SC | Fee | 1998 | 2007 | 100% | 130,497 | $ | 871,236 | $ | 6.68 | 100% | Lowes (2016) |
52
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
495
|
Stow, OH |
Stow Community Shopping Center Kent Road |
44224 | SC | Fee | 1997/2000 | 1 | * | 100% | 404,480 | $ | 2,750,094 | $ | 9.82 | 69.3% | Bed Bath & Beyond (2011), Giant Eagle (2017), Kohls (2019), Office Max (2011), Target (Not Owned) | ||||||||||||||||||||||||||
496
|
Tiffin, OH |
Tiffin Mall 870 West Market Street |
44883 | MM | Fee | 1980/2004 | 1/2 | * | 100% | 170,868 | $ | 611,662 | $ | 5.50 | 65.1% | Cinemark (2011), JCPenney (2010) | ||||||||||||||||||||||||||
497
|
Toledo, OH |
Springfield Commons Shopping S. Holland-Sylvania Road |
43528 | SC | Fee (3 | ) | 1999 | 1 | * | 20% | 241,129 | $ | 2,787,659 | $ | 11.06 | 99.3% | Kohls (2019), Gander Mountain (2014), Bed Bath & Beyond (2010), Old Navy (2010) | |||||||||||||||||||||||||
498
|
Toledo, OH |
Dicks - Toledo 851 W. Alexis Road |
43612 | SC | Fee | 1995 | 2004 | 100% | 80,160 | $ | 501,000 | $ | 6.25 | 100% | Dicks Sporting Goods (2016) | |||||||||||||||||||||||||||
499
|
West Chester, OH |
Kroger - West Chester 7172 Cincinnati-Dayton Road |
45069 | SC | Fee | 1998 | 2007 | 100% | 56,634 | $ | 349,154 | $ | 6.17 | 100% | Kroger (2018) | |||||||||||||||||||||||||||
500
|
Westlake, OH |
West Bay Plaza 30100 Detroit Road |
44145 | SC | Fee |
1974/1997/ 2000 |
1/2 | * | 100% | 162,330 | $ | 1,372,560 | $ | 8.54 | 99.0% | Marcs (2009), Kmart (2009) | ||||||||||||||||||||||||||
501
|
Willoughby Hills, OH |
Willoughby Hills Shopping Center Chardon Road |
44092 | SC | Fee (3 | ) | 1985 | 2007 | 15% | 373,318 | $ | 3,428,962 | $ | 9.66 | 95% | Giant Eagle (2019), Bryant & Stratton Business Institute (2008), Cinemark (2010), A.J. Wright (2011), Office Max (2009), Sams Club (2014) | ||||||||||||||||||||||||||
502
|
Xenia, OH |
West Park Square 1700 West Park Square |
45385 | SC | Fee |
1994/1997/ 2001 |
1 | * | 100% | 112,361 | $ | 653,298 | $ | 8.16 | 71.3% | Kroger (2019), Wal-Mart (Not Owned) | ||||||||||||||||||||||||||
Oklahoma | ||||||||||||||||||||||||||||||||||||||||||
503
|
Oklahoma City, OK |
CVS Pharmacy 2323 North Martin Luther King Blvd. |
73102 | SC | Fee | 1997 | 2007 | 100% | 9,504 | $ | 159,358 | $ | 16.77 | 100% | ||||||||||||||||||||||||||||
Oregon | ||||||||||||||||||||||||||||||||||||||||||
504
|
Portland, OR | Tanasbourne Town Center NW. Evergreen Pky. & NW. Ring Rd. | 97006 | SC | Fee (3 | ) | 1995/2001 | 1996 | 50% | 309,617 | $ | 5,637,375 | $ | 18.51 | 98.4% | Linens N Things (2012), Ross Dress For Less (2013), Michaels (2009), Barnes & Noble (2011), Office Depot (2010), Haggans (2021), Nordstrom (Not Owned), Target (Not Owned), Mervyns (Not Owned) | ||||||||||||||||||||||||||
Pennsylvania | ||||||||||||||||||||||||||||||||||||||||||
505
|
Allentown, PA | West Valley Marketplace 1091 Mill Creek Road | 18106 | SC | Fee | 2001/2004 | 2003 | 100% | 259,239 | $ | 2,708,047 | $ | 10.53 | 99.2% | Wal-Mart (2021) | |||||||||||||||||||||||||||
506
|
Camp Hill, PA |
Camp Hill Center 3414 Simpson Ferry Road |
17011 | SC | Fee | 1978/2002 | 2007 | 100% | 62,888 | $ | 698,160 | $ | 11.10 | 100% | Linens N Things (2013), Michaels (2013) | |||||||||||||||||||||||||||
507
|
Carlisle, PA |
Carlisle Commons Ridge Street & Noble Blvd. |
17013 | SC | Fee (3 | ) | 2001 | 2007 | 15% | 394,033 | $ | 3,226,738 | $ | 8.76 | 93.4% | Wal-Mart (2022), T.J. Maxx (2012), Ross Dress For Less (2014), Regal Cinemas (2010) |
53
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
508
|
Cheswick, PA |
Eckerd Drug Store 1200 Pittsburgh St. |
15024 | SC | Fee | 2000 | 2007 | 100% | 10,908 | $ | 248,609 | $ | 22.79 | 100% | ||||||||||||||||||||||||||||
509
|
Connelsville, PA |
Eckerd Drug Store 100 Memorial Blvd. |
15425 | SC | Fee | 1999 | 2007 | 100% | 10,908 | $ | 312,181 | $ | 28.62 | 100% | ||||||||||||||||||||||||||||
510
|
E. Norriton, PA |
Kmart Plaza 2692 Dekalb Pike |
19401 | SC | Fee | 1975/1997 | 1/2 | * | 100% | 173,876 | $ | 1,233,284 | $ | 7.04 | 94.2% | Kmart (2010), Big Lots (2010) | ||||||||||||||||||||||||||
511
|
Erie, PA |
Peach Street Square 1902 Keystone Drive |
16509 | SC | GL |
1995/1998/ 2003 |
1 | * | 100% | 557,769 | $ | 4,779,939 | $ | 8.89 | 91.3% | Lowes (2015), PetSmart (2015), Circuit City (2020), Kohls (2016), Wal-Mart (2015), Cinemark (2011), Home Depot (Not Owned) | ||||||||||||||||||||||||||
512
|
Erie, PA |
Eckerd Drug Store 404 East 26th Street |
16503 | SC | Fee | 1999 | 2007 | 100% | 10,908 | $ | 260,047 | $ | 23.84 | 100% | ||||||||||||||||||||||||||||
513
|
Erie, PA |
Eckerd Drug Store 2184 West 12th St. |
16505 | SC | GL | 1999 | 2007 | 100% | 10,908 | $ | 373,661 | $ | 34.26 | 100% | ||||||||||||||||||||||||||||
514
|
Erie, PA |
Eckerd Drug Store 353 East 6th Street |
16507 | SC | Fee | 1999 | 2007 | 100% | 10,908 | $ | 266,969 | $ | 24.47 | 100% | ||||||||||||||||||||||||||||
515
|
Erie, PA |
Erie Marketplace 6660-6750 Peach Street |
16509 | SC | Fee (3 | ) | 2003 | 2003 | 14.5% | 107,537 | $ | 1,044,279 | $ | 9.22 | 97.5% | Marshalls (2013), Bed Bath & Beyond (2013), Babies R Us (2015), Target (Not Owned) | ||||||||||||||||||||||||||
516
|
Hanover, PA |
BJs - Hanover 1785 Airport Road South |
18109 | SC | Fee | 1991 | 2004 | 100% | 112,230 | $ | 858,844 | $ | 7.65 | 100% | BJs Wholesale Club (2011) | |||||||||||||||||||||||||||
517
|
Harborcreek, PA |
Eckerd Drug Store 4145 Buffalo Road |
16510 | SC | Fee | 1999 | 2007 | 100% | 10,908 | $ | 230,486 | $ | 21.13 | 100% | ||||||||||||||||||||||||||||
518
|
Homestead, PA | Waterfront Market Amity 660 E. Waterfront Dr. | 15120 | LC | Fee (3 | ) | 2003 | 2007 | 15% | 765,009 | $ | 11,389,172 | $ | 15.41 | 96.6% | Dicks Sporting Goods (2012), Loews Cinema (2020), Best Buy (2013), Filenes Basement (2012), Michaels (2011), Pier 1 Imports (2050), Office Depot (2017), T.J. Maxx (2011), Old Navy (2011), DSW Shoe Warehouse (2015), Bed Bath & Beyond (2011), Marshalls (2010), Barnes & Noble (2012), Dave & Busters (2020), Macys (Not Owned), Target (Not Owned) | ||||||||||||||||||||||||||
519
|
King of Prussia, PA | Overlook at King of Prussia 301 Goddard Blvd. | 19046 | SC | Fee (3 | ) | 2002 | 2007 | 15% | 105,615 | $ | 4,855,050 | $ | 25.82 | 100% | United Artists Theatre (2025), Nordstrom Rack (2012), Best Buy (2017) | ||||||||||||||||||||||||||
520
|
Millcreek, PA |
Eckerd Drug Store 5440 Peach St. |
16508 | SC | Fee | 2000 | 2007 | 100% | 10,908 | $ | 336,691 | $ | 30.87 | 100% | ||||||||||||||||||||||||||||
521
|
Millcreek, PA |
Eckerd Drug Store 2923 West 26th St. |
16506 | SC | Fee | 1999 | 2007 | 100% | 10,908 | $ | 332,311 | $ | 30.46 | 100% |
54
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
522
|
Monaca, PA |
Township Marketplace 115 Wagner Road |
15061 | SC | GL (3 | ) | 1999/2004 | 2003 | 14.5% | 298,589 | $ | 2,485,369 | $ | 10.68 | 77.9% | Lowes (2016), Cinemark (2019) | ||||||||||||||||||||||||||
523
|
Monroeville, PA |
Eckerd Drug Store 4111 William Penn Hwy. |
15146 | SC | Fee | 1998 | 2007 | 100% | 12,738 | $ | 484,028 | $ | 38.00 | 100% | ||||||||||||||||||||||||||||
524
|
Monroeville, PA |
Eckerd Drug Store 2604 Monroeville Blvd. |
15146 | SC | Fee | 1999 | 2007 | 100% | 10,908 | $ | 295,339 | $ | 27.08 | 100% | ||||||||||||||||||||||||||||
525
|
Mt. Nebo, PA |
Mt. Nebo Point Mt. Nebo Road & Lowries Run Road |
15237 | SC | Fee (3 | ) | 2005 | 1 | * | 10% | 99,447 | $ | 1,709,961 | $ | 16.10 | 100% | Sportsmans Warehouse (2020), Sams Club (Not Owned), Target (Not Owned) | |||||||||||||||||||||||||
526
|
New Castle, PA |
Eckerd Drug Store 31 North Jefferson Street |
16101 | SC | Fee | 1999 | 2007 | 100% | 10,908 | $ | 261,740 | $ | 24.00 | 100% | ||||||||||||||||||||||||||||
527
|
Penn, PA |
Eckerd Drug Store 3550 Route 130 |
15642 | SC | Fee | 1999 | 2007 | 100% | 10,908 | $ | 262,741 | $ | 24.09 | 100% | ||||||||||||||||||||||||||||
528
|
Pittsburgh, PA |
Eckerd Drug Store 2501 Saw Mill Run Blvd. |
15227 | SC | Fee | 1999 | 2007 | 100% | 10,908 | $ | 342,233 | $ | 31.37 | 100% | ||||||||||||||||||||||||||||
529
|
Plum Borough, PA |
Eckerd Drug Store 1804 Golden Mile Hwy. |
15239 | SC | Fee | 1999 | 2007 | 100% | 10,908 | $ | 326,940 | $ | 29.97 | 100% | ||||||||||||||||||||||||||||
Puerto Rico | ||||||||||||||||||||||||||||||||||||||||||
530
|
Arecibo, PR |
Plaza Del Atlantico Pr # Km 80.3 |
00612 | MM | Fee | 1980/1993 | 2005 | 100% | 215,451 | $ | 3,364,265 | $ | 15.68 | 92.3% | Kmart (2013), Capri del Atlantico (2013) | |||||||||||||||||||||||||||
531
|
Bayamon, PR |
Plaza Del Sol Rd. Pr#29 & Pr#167, Hato Tejas |
00961 | MM | Fee |
1998/2003/ 2004 |
2005 | 100% | 526,397 | $ | 16,441,144 | $ | 31.26 | 95.2% | Wal-Mart (2022), Old Navy (2011), Science Park Cinema (2019), Bed Bath & Beyond (2017), Home Depot (Not Owned) | |||||||||||||||||||||||||||
532
|
Bayamon, PR |
Rexville Plaza Pr #167, Km 18.8 |
00961 | SC | Fee | 1980/2002 | 2005 | 100% | 126,023 | $ | 1,544,361 | $ | 11.13 | 96.6% | Pueblo Xtra (2009), Tiendas Capri (2013) | |||||||||||||||||||||||||||
533
|
Bayamon, PR |
Rio Hondo Pr#22, Pr#167 |
00936 | MM | Fee | 1982/2001 | 2005 | 100% | 464,174 | $ | 11,855,721 | $ | 24.21 | 97.6% | Tiendas Capri (2009), CompUSA (2021), Kmart (2011), Pueblo Xtra (2012), Rio Hondo Cinemas (2023), Marshalls (2015) | |||||||||||||||||||||||||||
534
|
Carolina, PR |
Plaza Escorial Carretera #3, Km 6.1 |
00987 | SC | Fee | 1997 | 2005 | 100% | 385,749 | $ | 7,774,803 | $ | 16.20 | 99.8% | Office Max (2015), Wal-Mart (2024), Plaza Escorial Cinemas (2019), Borders (2017), Old Navy (2009), Sams Club (2024), Home Depot (Not Owned) | |||||||||||||||||||||||||||
535
|
Cayey, PR |
Plaza Cayey State Road #1 & Pr #735 |
00736 | SC | Fee | 1999/2004 | 2005 | 100% | 261,126 | $ | 3,197,175 | $ | 9.07 | 99.3% | Wal-Mart (2021), Plaza Cayey Centro Cinema (2018) | |||||||||||||||||||||||||||
536
|
Fajardo, PR |
Plaza Fajardo Road Pr #3 Int Pr #940 |
00738 | SC | Fee | 1992 | 2005 | 100% | 245,319 | $ | 3,961,170 | $ | 15.98 | 99.2% | Wal-Mart (2012), Pueblo Xtra (2012) | |||||||||||||||||||||||||||
537
|
Guayama, PR |
Plaza Wal-Mart Road Pr #3 Km 135.0 |
00784 | SC | Fee | 1994 | 2005 | 100% | 163,598 | $ | 1,769,760 | $ | 10.82 | 100% | Wal-Mart (2018) |
55
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
538
|
Hatillo, PR |
Plaza Del Norte Road#2 Km 81.9 |
00659 | MM | Fee | 1992 | 2005 | 100% | 505,877 | $ | 9,873,867 | $ | 24.63 | 80.3% | Sears (2014), Toys R Us (2018), JCPenney (2012), Wal-Mart (2012) | |||||||||||||||||||||||||||
539
|
Humacao, PR |
Palma Real State Road #3, Km 78.20 |
00791 | SC | Fee | 1995 | 2005 | 100% | 340,608 | $ | 5,981,155 | $ | 18.94 | 83.6% | Pep Boys (2015), JCPenney (2019), Capri Stores (2011), Wal-Mart (2020) | |||||||||||||||||||||||||||
540
|
Isabela, PR |
Plaza Isabela State Road #2 & # 454 |
00662 | SC | Fee | 1994 | 2005 | 100% | 238,410 | $ | 3,689,102 | $ | 14.31 | 100% | Coop (2014), Wal-Mart (2019) | |||||||||||||||||||||||||||
541
|
San German, PR |
Camino Real State Road Pr #122 |
00683 | SC | Fee | 1991 | 2005 | 100% | 22,356 | $ | 339,950 | $ | 5.14 | 100% | Pep Boys (2015) | |||||||||||||||||||||||||||
542
|
San German, PR |
Del Oeste Road Pr #2 Int Pr #122 |
00683 | SC | Fee | 1991 | 2005 | 100% | 174,172 | $ | 2,395,439 | $ | 12.41 | 99.4% | Kmart (2016), Pueblo Xtra (2011) | |||||||||||||||||||||||||||
543
|
San Juan, PR |
Senorial Plaza Pr #53 & Pr #177 |
00926 | MM | Fee |
1978/ Mutiple |
2005 | 100% | 168,664 | $ | 2,528,590 | $ | 15.98 | 87.6% | Kmart (2010), Pueblo Xtra (2015) | |||||||||||||||||||||||||||
544
|
Vega Baja, PR |
Plaza Vega Baja Road Pr #2 Int Pr #155 |
00693 | SC | Fee | 1990 | 2005 | 100% | 174,728 | $ | 2,094,296 | $ | 10.75 | 100% | Kmart (2015), Pueblo Xtra (2010) | |||||||||||||||||||||||||||
Rhode Island | ||||||||||||||||||||||||||||||||||||||||||
545
|
Middletown, RI | Middletown Village 1315 West Main St. | 02842 | SC | Fee | 2003 | 2007 | 100% | 98,161 | $ | 1,632,198 | $ | 16.63 | 100% | Barnes & Noble (2019), Linens N Things (2019), Michaels (2018) | |||||||||||||||||||||||||||
546
|
Warwick, RI |
Warwick Center 1324 Bald Hill Road |
02886 | SC | Fee (3 | ) | 2004 | 2007 | 15% | 159,958 | $ | 2,255,135 | $ | 15.78 | 89.3% | Dicks Sporting Goods (2018), Linens N Things (2013), Barnes & Noble (2018), DSW Shoe Warehouse (2013) | ||||||||||||||||||||||||||
South Carolina | ||||||||||||||||||||||||||||||||||||||||||
547
|
Aiken, SC |
Aiken Exchange Whiskey Road & Brook Haven Drive |
29803 | SC | Fee (3 | ) | 2004 | 2007 | 15% | 101,558 | $ | 911,027 | $ | 10.04 | 89.3% | Goodys (2015), PetSmart (2019), Target (Not Owned) | ||||||||||||||||||||||||||
548
|
Anderson, SC |
Anderson Central 651 Hwy. 28 Bypass |
29624 | SC | Fee (3 | ) | 1999 | 2007 | 15% | 223,211 | $ | 1,434,372 | $ | 6.58 | 97.6% | Wal-Mart (2019) | ||||||||||||||||||||||||||
549
|
Anderson, SC |
North Hill Commons 3521 Clemson Blvd. |
29621 | SC | Fee (3 | ) | 2000 | 2007 | 15% | 43,149 | $ | 431,962 | $ | 10.01 | 100% | Michaels (2013), Target (Not Owned) | ||||||||||||||||||||||||||
550
|
Camden, SC |
Springdale Plaza 1671 Springdale Drive |
29020 | SC | Fee | 1990/2000 | 1993 | 100% | 180,127 | $ | 1,318,858 | $ | 7.38 | 99.3% | Steve & Barrys (2014), Belk (2015), Wal-Mart Super Center (Not Owned) | |||||||||||||||||||||||||||
551
|
Charleston, SC |
Ashley Crossing 2245 Ashley Crossing Drive |
29414 | SC | Fee | 1991 | 2003 | 100% | 188,883 | $ | 1,447,834 | $ | 7.75 | 91.7% | Food Lion (2011), Wal-Mart (2011) | |||||||||||||||||||||||||||
552
|
Columbia, SC | Columbiana Station OEA Harbison Blvd. & Bower Parkway | 29212 | SC | Fee (3 | ) | 2003 | 2007 | 15% | 376,819 | $ | 5,154,356 | $ | 15.19 | 90.1% | Goodys (2016), Circuit City (2020), Dicks Sporting Goods (2016), Michaels (2010), PetSmart (2015), H.H. Gregg Appliances (2015) |
56
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
553
|
Columbia, SC |
Target Center I 10204 Two Notch Rd. |
29229 | SC | Fee (3 | ) | 2002 | 2007 | 15% | 83,400 | $ | 504,558 | $ | 8.42 | 71.8% | Michaels (2012), Linens N Things (2012), Target (Not Owned) | ||||||||||||||||||||||||||
554
|
Columbia, SC |
Harbison Court Harbison Blvd. |
29212 | SC | Fee (3 | ) | 1991 | 2002 | 14.5% | 236,707 | $ | 2,715,124 | $ | 12.43 | 92.3% | Barnes & Noble (2011), Ross Dress For Less (2014), Marshalls (2012), Office Depot (2011), Babies R Us (Not Owned) | ||||||||||||||||||||||||||
555
|
Conway, SC | Gateway Plaza II - Conway 2701 Church Street | 29526 | SC | Fee | 2002 | 2007 | 100% | 62,428 | $ | 630,664 | $ | 10.52 | 96% | Goodys (2017) | |||||||||||||||||||||||||||
556
|
Easley, SC | Center Pointe Plaza II Calhoun Memorial Hwy. & Brushy Creek Road | 29642 | SC | GL (3 | ) | 2004 | 2007 | 20% | 72,287 | $ | 775,475 | $ | 11.42 | 93.9% | Publix Super Markets (2023), Home Depot (Not Owned) | ||||||||||||||||||||||||||
557
|
Gaffney, SC | Eckerd Drug Store - Gaffney 1320 W Floyd Baker Blvd. | 29341 | SC | Fee | 2003 | 2007 | 100% | 13,818 | $ | 291,984 | $ | 21.13 | 100% | ||||||||||||||||||||||||||||
558
|
Greenville, SC |
Eckerd Drug Store - Greenville 3679 Augusta Road |
29605 | SC | Fee | 2001 | 2007 | 100% | 10,908 | $ | 283,423 | $ | 25.98 | 100% | ||||||||||||||||||||||||||||
559
|
Greenville, SC | Super Wal-Mart - Greenville 1451 Woodruff Road | 29607 | SC | Fee | 1998 | 2007 | 100% | 200,084 | $ | 1,272,534 | $ | 6.36 | 100% | Wal-Mart (2018) | |||||||||||||||||||||||||||
560
|
Greenville, SC |
The Point 1140 Woodruff Road |
29601 | SC | Fee (3 | ) | 2005 | 2007 | 20% | 104,641 | $ | 1,740,547 | $ | 16.89 | 98.5% | Whole Foods (2026), Circuit City (2021) | ||||||||||||||||||||||||||
561
|
Greenwood, SC |
BI-LO - Northside Plaza US Highway 25 & Northside Drive |
29649 | SC | Fee | 1999 | 2007 | 100% | 41,581 | $ | 334,437 | $ | 8.04 | 100% | BI-LO (2019) | |||||||||||||||||||||||||||
562
|
Lexington, SC |
Lexington Place US Hwy. 378 & Old Cherokee Road |
29072 | SC | Fee | 2003 | 2007 | 100% | 83,167 | $ | 835,531 | $ | 10.05 | 100% | Ross Dress For Less (2014), T.J. Maxx (2013), Publix Super Markets (Not Owned), Kohls (Not Owned) | |||||||||||||||||||||||||||
563
|
Mt. Pleasant, SC |
Wando Crossing 1500 Highway 17 North |
29465 | SC | Fee | 1992/2000 | 1995 | 100% | 209,139 | $ | 2,159,532 | $ | 11.91 | 86.7% | Circuit City (2018), Office Depot (2010), T.J. Maxx (2013), Marshalls (2011), Wal-Mart (Not Owned) | |||||||||||||||||||||||||||
564
|
Mt. Pleasant, SC |
BI-LO - Shelmore 672 Hwy. 17 By-Pass |
29464 | SC | Fee | 2002 | 2007 | 100% | 64,368 | $ | 920,894 | $ | 14.31 | 100% | BI-LO (2023) | |||||||||||||||||||||||||||
565
|
Myrtle Beach, SC | Plaza at Carolina Forest 3735 Renee Drive | 29579 | SC | Fee (3 | ) | 1999 | 2007 | 20% | 116,657 | $ | 1,663,936 | $ | 13.37 | 97.4% | Kroger (2010) | ||||||||||||||||||||||||||
566
|
N. Charleston, SC |
North Pointe Plaza 7400 Rivers Avenue |
29406 | SC | Fee | 1989/2001 | 2 | * | 100% | 294,471 | $ | 2,053,591 | $ | 7.00 | 99.7% | Wal-Mart (2009), Office Max (2009) | ||||||||||||||||||||||||||
567
|
N. Charleston, SC | North Charleston Center 5900 Rivers Avenue | 29406 | SC | Fee | 1980/1993 | 2004 | 100% | 235,501 | $ | 1,076,181 | $ | 7.11 | 64.3% | Northern Tool (2016), Big Lots (2009) | |||||||||||||||||||||||||||
568
|
Orangeburg, SC |
North Road Plaza 2795 North Road |
29115 | SC | Fee | 1994/1999 | 1995 | 100% | 50,760 | $ | 541,108 | $ | 10.66 | 100% | Goodys (2013), Wal-Mart (Not Owned) |
57
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
569
|
Piedmont, SC |
Eckerd Drug Store - Piedmont 915 Anderson Street |
29601 | SC | Fee | 2000 | 2007 | 100% | 10,908 | $ | 181,052 | $ | 16.60 | 100% | ||||||||||||||||||||||||||||
570
|
S. Anderson, SC |
Crossroads Plaza 406 Highway 28 By-Pass |
29624 | SC | Fee | 1990 | 1994 | 100% | 8,800 | $ | 30,600 | $ | 6.38 | 54.5% | ||||||||||||||||||||||||||||
571
|
Simpsonville, SC |
Fairview Station 621 Fairview Road |
29681 | SC | Fee | 1990 | 1994 | 100% | 142,086 | $ | 873,706 | $ | 6.20 | 99.2% | Ingles (2011), Kohls (2015) | |||||||||||||||||||||||||||
572
|
Spartanburg, SC |
Eckerd Drug Store - Blackstock 1510 W.O. Ezell Blvd. |
29301 | SC | Fee | 2001 | 2007 | 100% | 10,908 | $ | 271,599 | $ | 24.90 | 100% | ||||||||||||||||||||||||||||
573
|
Spartanburg, SC |
Eckerd Drug Store - Spartanburg 780 N. Pine Street |
29301 | SC | Fee | 2002 | 2007 | 100% | 10,908 | $ | 283,656 | $ | 26.00 | 100% | ||||||||||||||||||||||||||||
574
|
Spartanburg, SC | Northpoint Marketplace 8642-8760 Asheville Highway | 29316 | SC | Fee | 2001 | 2007 | 100% | 102,252 | $ | 709,497 | $ | 7.53 | 89.2% | Ingles (2021) | |||||||||||||||||||||||||||
575
|
Taylors, SC |
North Hampton 6019 Wade Hampton |
29687 | SC | Fee (3 | ) | 2004 | 2007 | 20% | 114,935 | $ | 1,160,896 | $ | 11.06 | 91.3% | Hobby Lobby (2019), Target (Not Owned) | ||||||||||||||||||||||||||
576
|
Taylors, SC |
Hampton Point 3033 Wade Hampton Blvd. |
29687 | SC | Fee | 1993 | 2007 | 100% | 58,316 | $ | 468,926 | $ | 8.04 | 100% | BI-LO (2018) | |||||||||||||||||||||||||||
577
|
Tega Cay, SC |
Eckerd Drug Store - Tega Cay 2907 W. Hwy. 160 |
29708 | SC | Fee | 2002 | 2007 | 100% | 13,824 | $ | 309,853 | $ | 22.41 | 100% | ||||||||||||||||||||||||||||
578
|
Woodruff, SC |
Eckerd Drug Store - Woodruff 121 N. Main Street |
29388 | SC | Fee | 2002 | 2007 | 100% | 13,824 | $ | 288,178 | $ | 20.85 | 100% | ||||||||||||||||||||||||||||
South Dakota | ||||||||||||||||||||||||||||||||||||||||||
579
|
Watertown, SD |
Watertown Mall 1300 9th Avenue |
56401 | MM | Fee | 1977 | 1/2 | * | 100% | 240,262 | $ | 1,357,429 | $ | 6.69 | 84.4% | Dunhams Sporting Goods (2011), Herbergers (2009), JCPenney (2008), Hy-Vee Supermarket (Not Owned) | ||||||||||||||||||||||||||
Tennessee | ||||||||||||||||||||||||||||||||||||||||||
580
|
Brentwood, TN |
Cool Springs Pointe I-65 & Moores Lane |
37027 | SC | Fee (3 | ) | 1999/2004 | 2000 | 14.5% | 201,414 | $ | 2,580,284 | $ | 12.81 | 100% | Best Buy (2014), Ross Dress For Less (2015), Linens N Things (2014), DSW Shoe Warehouse (2008) | ||||||||||||||||||||||||||
581
|
Chattanooga, TN | Overlook at Hamilton Place 2288 Gunbarrel Road | 37421 | SC | Fee | 1992/2004 | 2003 | 100% | 207,244 | $ | 1,784,039 | $ | 8.66 | 99.4% | Best Buy (2014), Hobby Lobby (2014), Fresh Market (2014) | |||||||||||||||||||||||||||
582
|
Chattanooga, TN | PetSmart - Chattanooga 2130 Gunbarrel Road | 37421 | SC | Fee | 1995 | 2007 | 100% | 26,040 | $ | 344,665 | $ | 13.24 | 100% | PetSmart (2021) | |||||||||||||||||||||||||||
583
|
Columbia, TN |
Columbia Square 845 Nashville Hwy. |
38401 | SC | Fee (3 | ) | 1993 | 2003 | 10% | 68,948 | $ | 506,090 | $ | 8.00 | 91.7% | Kroger (2022) | ||||||||||||||||||||||||||
584
|
Farragut, TN |
Farragut Pointe 11132 Kingston Pike |
37922 | SC | Fee (3 | ) | 1991 | 2003 | 10% | 71,311 | $ | 476,797 | $ | 7.63 | 87.6% | Food City (2011) |
58
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
585
|
Goodlettsville, TN |
Northcreek Commons 101 - 139 Northcreek Blvd. |
37072 | SC | Fee (3 | ) | 1987 | 2003 | 20% | 84,441 | $ | 722,684 | $ | 8.78 | 97.5% | Kroger (2012) | ||||||||||||||||||||||||||
586
|
Hendersonville, TN |
Hendersonville Lowes 1050 Lowes Road |
37075 | SC | Fee | 1999 | 2003 | 100% | 133,144 | $ | 1,222,439 | $ | 9.18 | 100% | Lowes (2019) | |||||||||||||||||||||||||||
587
|
Jackson, TN |
West Towne Commons 41 Stonebrook Place |
38305 | SC | Fee (3 | ) | 1992 | 2007 | 20% | 62,925 | $ | 555,306 | $ | 9.01 | 97.9% | Kroger (2020) | ||||||||||||||||||||||||||
588
|
Johnson City, TN | Johnson City Marketplace Franklin & Knob Creek Roads | 37604 | SC | GL | 2005 | 2003 | 100% | 11,749 | $ | 488,862 | $ | 15.00 | 97.3% | Kohls (2026) | |||||||||||||||||||||||||||
589
|
Knoxville, TN |
Turkey Creek I 10936 Parkside Drive |
37922 | SC | Fee (3 | ) | 2001 | 2007 | 15% | 280,776 | $ | 3,590,699 | $ | 12.79 | 100% | Ross Dress For Less (2014), Office Max (2017), Linens N Things (2017), Old Navy (2011), Goodys (2015), Target (Not Owned), Wal-Mart (Not Owned) | ||||||||||||||||||||||||||
590
|
Knoxville, TN |
Town & Country North Peters Road & Town & Country Circle |
37923 | SC | Fee (3 | ) | 1985/1997 | 2007 | 15% | 637,537 | $ | 6,112,818 | $ | 10.18 | 94.2% | Goodys (2013), Jo-Ann Stores (2013), Circuit City (2009), Staples (2019), Best Buy (2019), Food City (2026), Lowes (2017), Carmike Cinemas (2020), Dicks Sporting Goods (2017) | ||||||||||||||||||||||||||
591
|
Memphis, TN |
American Way 4075 American Way |
38118 | SC | Fee (3 | ) | 1988 | 2007 | 20% | 121,222 | $ | 900,979 | $ | 8.11 | 91.7% | Kroger (2020) | ||||||||||||||||||||||||||
592
|
Morristown, TN | Crossroads Square | 37816 | SC | Fee (3 | ) | 2004 | 2007 | 20% | 65,000 | $ | 597,500 | $ | 9.19 | 100% | T.J. Maxx (2014) | ||||||||||||||||||||||||||
130 Terrace Lane | ||||||||||||||||||||||||||||||||||||||||||
593
|
Murfreesboro, TN |
Towne Centre Old Fort Parkway |
37129 | SC | Fee (3 | ) | 1998 | 2003 | 14.5% | 108,023 | $ | 1,343,815 | $ | 12.44 | 100% | T.J. Maxx (2010), Books-A-Million (2009), Target (Not Owned), Toys R Us (Not Owned), Lowes (Not Owned) | ||||||||||||||||||||||||||
594
|
Nashville, TN |
Willowbrook Commons 61 East Thompson Lane |
37211 | SC | Fee (3 | ) | 2005 | 2007 | 20% | 93,600 | $ | 849,055 | $ | 9.53 | 95.1% | Kroger (2029) | ||||||||||||||||||||||||||
595
|
Nashville, TN |
The Marketplace Charlotte Pike |
37209 | SC | Fee (3 | ) | 1998 | 2003 | 14.5% | 167,795 | $ | 1,640,764 | $ | 9.94 | 98.3% | Lowes (2019), Wal-Mart (Not Owned) | ||||||||||||||||||||||||||
596
|
Nashville, TN |
Bellevue Place Shopping Center 7625 Highway 70 S. |
37221 | SC | Fee (3 | ) | 2003 | 2007 | 15% | 77,180 | $ | 858,430 | $ | 12.13 | 91.7% | Michaels (2012), Bed Bath & Beyond (2012), Home Depot (Not Owned) | ||||||||||||||||||||||||||
597
|
Oakland, TN |
Oakland Market Place 7265 US Hwy. 64 |
38060 | SC | Fee (3 | ) | 2004 | 2007 | 20% | 64,600 | $ | 374,647 | $ | 6.50 | 89.2% | Kroger (2028) | ||||||||||||||||||||||||||
Texas | ||||||||||||||||||||||||||||||||||||||||||
598
|
Austin, TX | Shops at Tech Ridge Center Ridge Drive | 78728 | SC | Fee (3 | ) | 2003 | 2003 | 24.75% | 282,798 | $ | 4,085,675 | $ | 14.43 | 96.6% | Ross Dress For Less (2014), Linens N Things (2014), Toys R Us (2014), Hobby Lobby (2018), Best Buy (2017), Super Target (Not Owned), |
59
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
599
|
Baytown, TX |
Lowes Home Improvement - Baytown 5002 Garth Road |
77521 | SC | Fee | 1998 | 2007 | 100% | 125,357 | $ | 873,828 | $ | 6.97 | 100% | Lowes (2015) | |||||||||||||||||||||||||||
600
|
Carrolton, TX |
CVS Pharmacy Trinity Mills & Marsh Rd. |
75006 | SC | Fee | 1997 | 2007 | 100% | 9,504 | $ | 185,188 | $ | 19.49 | 100% | ||||||||||||||||||||||||||||
601
|
Colony, TX |
CVS Pharmacy 6749 Main Street |
75056 | SC | Fee | 1997 | 2007 | 100% | 9,504 | $ | 171,576 | $ | 18.05 | 100% | ||||||||||||||||||||||||||||
602
|
Frisco, TX |
Frisco Marketplace 7010 Preston Road |
75035 | SC | Fee (3 | ) | 2003 | 2003 | 14.5% | 20,959 | $ | 735,661 | $ | 19.55 | 100% | Kohls (2023) | ||||||||||||||||||||||||||
603
|
Ft. Worth, TX |
CVS Pharmacy 2706 Jacksboro Hwy. |
76114 | SC | Fee | 1997 | 2007 | 100% | 10,908 | $ | 239,783 | $ | 21.98 | 100% | ||||||||||||||||||||||||||||
604
|
Ft. Worth, TX |
CVS Pharmacy 4551 Sycamore School Road |
76133 | SC | Fee | 1997 | 2007 | 100% | 9,504 | $ | 149,248 | $ | 15.70 | 100% | ||||||||||||||||||||||||||||
605
|
Garland, TX | Rainbow Foods - Garland | 75043 | SC | Fee | 1994 | 2007 | 100% | 70,576 | $ | 0 | $ | 0.00 | 0% | ||||||||||||||||||||||||||||
3265 Broadway Blvd. | ||||||||||||||||||||||||||||||||||||||||||
606
|
Grand Prairie, TX |
Kroger - Grand Prairie 2525 West Interstate 20 |
75052 | SC | Fee | 1998 | 2007 | 100% | 60,835 | $ | 433,615 | $ | 7.13 | 100% | Kroger (2018) | |||||||||||||||||||||||||||
607
|
Houston, TX |
Lowes Home Improvement - Houston 19935 Katy Freeway |
77094 | SC | Fee | 1998 | 2007 | 100% | 131,644 | $ | 917,000 | $ | 6.97 | 100% | Lowes (2017) | |||||||||||||||||||||||||||
608
|
Irving, TX | MacArthur Marketplace Market Place Boulevard | 75063 | SC | Fee (3 | ) | 2004 | 2003 | 14.5% | 146,941 | $ | 2,084,490 | $ | 10.75 | 100% | Kohls (2021), Hollywood Theaters (2016), Office Max (2014), Sams Club (Not Owned), Wal-Mart (Not Owned) | ||||||||||||||||||||||||||
609
|
Lake Worth, TX |
CVS Pharmacy 6640 Lake Worth Blvd. |
76135 | SC | Fee | 1997 | 2007 | 100% | 9,504 | $ | 161,809 | $ | 17.03 | 100% | ||||||||||||||||||||||||||||
610
|
Lewisville, TX |
Lakepointe Crossings S. Stemmons Freeway |
75067 | SC | Fee (3 | ) | 1991 | 2002 | 14.5% | 311,039 | $ | 2,833,184 | $ | 10.96 | 83.6% | 99 Cents Only Store (2009), PetSmart (2009), Best Buy (2010), Academy Sports (2016), Mardel Christian Bookstore (2012), Garden Ridge (Not Owned), Toys R Us (Not Owned), Conns Appliance (Not Owned) | ||||||||||||||||||||||||||
611
|
McKinney, TX |
McKinney Marketplace US Hwy. 75 & El Dorado Pky. |
75070 | SC | Fee (3 | ) | 2000 | 2003 | 14.5% | 118,967 | $ | 1,171,553 | $ | 10.56 | 93.3% | Kohls (2021), Albertsons (Not Owned) | ||||||||||||||||||||||||||
612
|
Mesquite, TX |
The Marketplace at Towne Center Southbound Frontage Rd. I 635 |
75150 | SC | Fee (3 | ) | 2001 | 2003 | 14.5% | 170,625 | $ | 2,513,489 | $ | 13.68 | 100% | PetSmart (2017), Linens N Things (2013), Michaels (2012), Ross Dress For Less (2013), Kohls (Not Owned), Home Depot (Not Owned) | ||||||||||||||||||||||||||
613
|
Pasadena, TX |
Kroger Junction 2619 Red Bluff Road |
77506 | SC | Fee (3 | ) | 1984 | 2007 | 20% | 80,753 | $ | 461,753 | $ | 5.98 | 95.5% | Kroger (2020) |
60
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
614
|
Plano, TX |
CVS Pharmacy 6401 W. Parker Rd. |
75093 | SC | Fee | 1997 | 2007 | 100% | 10,908 | $ | 226,188 | $ | 20.74 | 100% | ||||||||||||||||||||||||||||
615
|
Richardson, TX |
CVS Pharmacy 1425 E. Buckingham Road |
75081 | SC | Fee | 1997 | 2007 | 100% | 10,560 | $ | 210,210 | $ | 19.91 | 100% | ||||||||||||||||||||||||||||
616
|
Richardson, TX |
CVS Pharmacy 2090 Arapahoe Blvd. |
75081 | SC | Fee | 1997 | 2007 | 100% | 10,560 | $ | 206,585 | $ | 19.56 | 100% | ||||||||||||||||||||||||||||
617
|
Richland Hills, TX |
CVS Pharmacy 4808 Davis Blvd. |
76180 | SC | Fee | 1997 | 2007 | 100% | 10,908 | $ | 237,324 | $ | 21.76 | 100% | ||||||||||||||||||||||||||||
618
|
River Oaks, TX |
CVS Pharmacy 531 River Oaks Blvd. |
76114 | SC | Fee | 1997 | 2007 | 100% | 10,908 | $ | 240,972 | $ | 22.09 | 100% | ||||||||||||||||||||||||||||
619
|
Rowlett, TX |
Rainbow Foods - Rowlett 8800 Lakeview Pky. |
75088 | SC | Fee | 1995/2001 | 2007 | 100% | 63,117 | $ | 0 | $ | 0.00 | 0% | ||||||||||||||||||||||||||||
620
|
San Antonio, TX |
Bandera Point North State Loop 1604 Bandera Road |
78227 | SC | Fee | 2001/2002 | 2002 | 100% | 278,721 | $ | 4,581,873 | $ | 15.19 | 99.6% | Lowes (2020), T.J. Maxx (2011), Linens N Things (2012), Old Navy (2011), Ross Dress For Less (2012), Barnes & Noble (2011), Raquetball & Fitness (Not Owned), Chuck E. Cheese (Not Owned), Kohls (Not Owned), Credit Union (Not Owned), Target (Not Owned) | |||||||||||||||||||||||||||
621
|
San Antonio, TX |
Village at Stone Oak 22610 US Hwy. 281 North |
78258 | SC | Fee | 2007 | 1 | * | 100% | 259,612 | $ | 4,955,271 | $ | 19.09 | 100% | |||||||||||||||||||||||||||
622
|
San Antonio, TX |
Westover Marketplace S H 151 at Loop 410 |
78209 | SC | Fee (3 | ) | 2005 | 1 | * | 10% | 213,837 | $ | 3,074,597 | $ | 14.18 | 98.6% | PetSmart (2016), Office Depot (2016), Sportsmans Warehouse (2015), Ross Dress For Less (2016), Target (Not Owned), Lowes (Not Owned) | |||||||||||||||||||||||||
623
|
San Antonio, TX |
Ingram Park 6157 NW Loop 410 |
78238 | MV | Fee | 1985 | 2005 | 50% | 76,597 | $ | 439,049 | $ | 5.73 | 100% | Mervyns (2020) | |||||||||||||||||||||||||||
624
|
San Antonio, TX |
Terrell Plaza 1201 Austin Hwy. |
78209 | SC | Fee (3 | ) | 1958/1986 | 2007 | 50% | 167,613 | $ | 1,235,291 | $ | 7.48 | 98.5% | Big Lots (2010), Alamo Workforce (2008) | ||||||||||||||||||||||||||
625
|
Tyler, TX |
CVS Pharmacy 1710 W. Gentry Pky. |
75702 | SC | Fee | 1997 | 2007 | 100% | 9,504 | $ | 134,773 | $ | 14.18 | 100% | ||||||||||||||||||||||||||||
626
|
Wichita Falls, TX |
CVS Pharmacy 3601 Old Jacksboro Highway |
76302 | SC | Fee | 1997 | 2007 | 100% | 9,504 | $ | 188,502 | $ | 19.83 | 100% | ||||||||||||||||||||||||||||
627
|
Wichita Falls, TX |
CVS Pharmacy 4600 Southwest Pky. |
76310 | SC | Fee | 1997 | 2007 | 100% | 9,504 | $ | 164,568 | $ | 17.32 | 100% |
61
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
Utah | ||||||||||||||||||||||||||||||||||||||||||
628
|
Midvale, UT |
Family Center at Fort Union 50 900 East Ft. Union Blvd. |
84047 | SC | Fee | 1973/200 | 1998 | 100% | 639,033 | $ | 7,992,013 | $ | 13.48 | 92.8% | Babies R Us (2014), Office Max (2012), Smiths Food & Drug (2024), Media Play (2009), Bed Bath & Beyond (2014), Wal-Mart (2015), Ross Dress For Less (2016), Michaels (2017) | |||||||||||||||||||||||||||
629
|
Ogden, UT |
Family Center at Ogden 5-Point 21-129 Harrisville Road |
84404 | SC | Fee | 1977 | 1998 | 100% | 162,316 | $ | 628,170 | $ | 5.34 | 72.5% | Harmons (2012) | |||||||||||||||||||||||||||
630
|
Orem, UT |
Family Center at Orem 1300 South Street |
84058 | SC | Fee | 1991 | 1998 | 100% | 150,667 | $ | 1,677,708 | $ | 11.14 | 100% | Toys R Us (2011), Media Play (2009), Office Depot (2008), Jo-Ann Stores (2012), R.C. Willey (Not Owned), Toys R Us (Not Owned) | |||||||||||||||||||||||||||
631
|
Riverdale, UT |
Family Center at Riverdale 510 1050 West Riverdale Road |
84405 | SC | Fee | 1995/2003 | 1998 | 100% | 593,398 | $ | 5,039,460 | $ | 8.73 | 95.9% | Macys (2011), Office Max (2010), Gart Sports (2012), Sportsmans Warehouse (2009), Target (2017), Media Play (2009), Circuit City (2016) | |||||||||||||||||||||||||||
632
|
Riverdale, UT |
Family Center at Riverdale 526 1050 West Riverdale Road |
84405 | SC | Fee | 2005 | 1 | * | 100% | 35,347 | $ | 335,796 | $ | 9.50 | 100% | Jo-Ann Stores (2015), Sams Club (Not Owned), Super Wal-Mart (Not Owned) | ||||||||||||||||||||||||||
633
|
Salt Lake City, UT |
Family Place at 33rd South 3300 South Street |
84115 | SC | Fee | 1978 | 1998 | 100% | 34,209 | $ | 228,035 | $ | 9.23 | 72.2% | ||||||||||||||||||||||||||||
634
|
Taylorsville, UT |
Family Center at Midvalley 503 5600 South Redwood |
84123 | SC | Fee | 1982/2003 | 1998 | 100% | 667,371 | $ | 6,458,664 | $ | 10.66 | 90% | ShopKo (2014), Jo-Ann Stores (2015), Gart Sports (2017), 24 Hour Fitness (2017), PetSmart (2018), Bed Bath & Beyond (2015), Ross Dress For Less (2014), Home USA Warehouse (2012), Media Play (2009), Harmons Superstore (Not Owned) | |||||||||||||||||||||||||||
Vermont | ||||||||||||||||||||||||||||||||||||||||||
635
|
Berlin, VT |
Berlin Mall 282 Berlin Mall Rd., Unit #28 |
05602 | MM | Fee | 1986/1999 | 2 | * | 100% | 174,624 | $ | 1,607,739 | $ | 9.56 | 96.3% | Wal-Mart (2014), JCPenney (2009) | ||||||||||||||||||||||||||
Virginia | ||||||||||||||||||||||||||||||||||||||||||
636
|
Chester, VA |
Bermuda Square 12607-12649 Jefferson Davis |
23831 | SC | Fee | 1978 | 2003 | 100% | 116,310 | $ | 1,109,614 | $ | 12.30 | 77.6% | Ukrops (2008) |
62
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
637
|
Fairfax, VA |
Fairfax Towne Center 12210 Fairfax Towne Center |
22033 | SC | Fee (3 | ) | 1994 | 1995 | 14.5% | 253,392 | $ | 4,134,923 | $ | 18.07 | 90.3% | Safeway (2019), T.J. Maxx (2009), Bed Bath & Beyond (2010), United Artists Theatre (2014) | ||||||||||||||||||||||||||
638
|
Fredricksburg, VA |
PetSmart - Fredricksburg 1401 Carl D. Silver Parkway |
22401 | SC | Fee | 1997 | 2007 | 100% | 26,067 | $ | 378,797 | $ | 14.53 | 100% | PetSmart (2021) | |||||||||||||||||||||||||||
639
|
Glen Allen, VA |
Creeks at Virginia Center 9830-9992 Brook Road |
23059 | SC | Fee (3 | ) | 2002 | 2007 | 15% | 266,308 | $ | 3,875,135 | $ | 14.62 | 99.5% | Barnes & Noble (2011), Circuit City (2022), Bed Bath & Beyond (2012), Michaels (2011), Dicks Sporting Goods (2017) | ||||||||||||||||||||||||||
640
|
Lynchburg, VA |
Candlers Station 3700 Candlers Mountain Road |
24502 | SC | Fee | 1990 | 2003 | 100% | 270,765 | $ | 2,377,617 | $ | 8.79 | 99.4% | Goodys (2009), Cinemark (2015), Circuit City (2009), Staples (2013), T.J. Maxx (2009), Steve & Barrys (2014), Toys R Us (Not Owned) | |||||||||||||||||||||||||||
641
|
Lynchburg, VA |
Wards Crossing Wards Road & Wards Ferry Road |
24502 | SC | Fee (3 | ) | 2001 | 2007 | 15% | 80,937 | $ | 1,158,042 | $ | 14.87 | 96.2% | Bed Bath & Beyond (2013), Michaels (2011), Target (Not Owned), Dicks (Not Owned), PetSmart (Not Owned) | ||||||||||||||||||||||||||
642
|
Martinsville, VA |
Liberty Fair Mall 240 Commonwealth Boulevard |
24112 | MM | Fee (3 | ) | 1989/1997 | 1/2 | * | 50% | 435,057 | $ | 2,835,513 | $ | 7.21 | 89.9% | Goodys (2008), Belk (2009), JCPenney (2009), Sears (2009), Office Max (2012), Kroger (2017) | |||||||||||||||||||||||||
643
|
Midlothian, VA | Chesterfield Crossing Highway 360 & Warbro Road | 23112 | SC | Fee (3 | ) | 2000 | 2007 | 15% | 79,802 | $ | 1,163,187 | $ | 14.12 | 89.9% | Ben Franklin Crafts (2015), Home Depot (Not Owned), Wal-Mart (Not Owned) | ||||||||||||||||||||||||||
644
|
Newport News, VA |
Denbigh Village Warwick Blvd. & Denbigh Blvd. |
23608 | SC | Fee | 1998/2006 | 2007 | 100% | 324,450 | $ | 2,480,691 | $ | 7.96 | 89.1% | Burlington Coat Factory (2013), Kroger (2017) | |||||||||||||||||||||||||||
645
|
Newport News, VA |
Jefferson Plaza 121 Jefferson Avenue |
23602 | SC | Fee (3 | ) | 1999 | 2007 | 15% | 47,341 | $ | 755,061 | $ | 15.95 | 100% | CompUSA (2019), Costco (Not Owned) | ||||||||||||||||||||||||||
646
|
Richmond, VA |
Commonwealth Center II 4600-5000 Commonwealth Center Parkway |
23112 | SC | Fee (3 | ) | 2002 | 2007 | 15% | 165,413 | $ | 2,115,449 | $ | 13.28 | 96.3% | Stein Mart (2011), Michaels (2011), Barnes & Noble (2012) | ||||||||||||||||||||||||||
647
|
Richmond, VA |
Downtown Short Pump 11500-900 West Broad Street |
23233 | SC | Fee | 2000 | 2007 | 100% | 126,055 | $ | 2,443,682 | $ | 21.22 | 91.3% | Barnes & Noble (2011), Regal Cinemas (2021) | |||||||||||||||||||||||||||
648
|
Springfield, VA |
Loisdale Center 6646 Loisdale Road |
22150 | SC | Fee | 1999 | 2007 | 100% | 120,742 | $ | 2,469,392 | $ | 20.45 | 100% | Barnes & Noble (2015), DSW Shoe Warehouse (2010), Bed Bath & Beyond (2015), Circuit City (2020) | |||||||||||||||||||||||||||
649
|
Springfield, VA |
Spring Mall Center 6717 Spring Mall Rd. |
22150 | SC | Fee | 1995/2001 | 2007 | 100% | 56,511 | $ | 998,611 | $ | 17.67 | 100% | Michaels (2010), Tile Shop (2018) |
63
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
650
|
Sterling, VA |
Cascades Marketplace NEC of Cascades Pky. & Route 7 |
20165 | SC | Fee | 1998 | 2007 | 100% | 101,606 | $ | 1,487,754 | $ | 14.64 | 100% | Staples (2008), Sports Authority (2016) | |||||||||||||||||||||||||||
651
|
Virginia Beach, VA |
Kroger Plaza 1800 Republic Drive |
23454 | SC | Fee (3 | ) | 1997 | 2007 | 20% | 63,324 | $ | 237,488 | $ | 3.75 | 100% | Kroger (2020) | ||||||||||||||||||||||||||
652
|
Waynesboro, VA |
Waynesboro Commons 109 Lee Dewitt Blvd. |
22980 | SC | Fee (3 | ) | 1993 | 2007 | 20% | 52,415 | $ | 430,270 | $ | 8.21 | 100% | Kroger (2018) | ||||||||||||||||||||||||||
653
|
Winchester, VA |
Apple Blossom Corners 2190 S. Pleasant Valley |
22601 | SC | Fee (3 | ) | 1990/1997 | 2 | * | 20% | 239,360 | $ | 2,408,602 | $ | 10.11 | 99.5% | Martins Food Store (2040), Kohls (2018), Office Max (2012), Books-A-Million (2013) | |||||||||||||||||||||||||
654
|
Wytheville, VA |
Wytheville Commons 215-295 Commonwealth Drive |
24382 | SC | Fee (3 | ) | 2004 | 2007 | 15% | 90,239 | $ | 1,046,890 | $ | 11.60 | 100% | Goodys (2016), Lowes (Not Owned), Super Wal-Mart (Not Owned) | ||||||||||||||||||||||||||
Washington | ||||||||||||||||||||||||||||||||||||||||||
655
|
Kirkland, WA |
Totem Lakes Upper Totem Lakes Boulevard |
98034 | SC | Fee (3 | ) | 1999/2004 | 2004 | 20% | 233,242 | $ | 2,374,439 | $ | 16.35 | 66.2% | Guitar Center (2008), Ross Dress For Less (2010), Rite Aid (2008) | ||||||||||||||||||||||||||
656
|
Olympia, WA |
Circuit City - Olympia 2815 Capital Mall Dr. SW. |
98502 | SC | Fee | 1998 | 2007 | 100% | 35,776 | $ | 443,929 | $ | 12.41 | 100% | Circuit City (2018) | |||||||||||||||||||||||||||
West Virginia | ||||||||||||||||||||||||||||||||||||||||||
657
|
Barboursville, WV |
Barboursville Center 5-13 Mall Road |
25504 | SC | GL | 1985 | 1998 | 100% | 70,900 | $ | 394,225 | $ | 5.56 | 100% | Discount Emporium (2006), Goodys (2014), Value City (Not Owned) | |||||||||||||||||||||||||||
658
|
Morgantown, WV |
Glenmark Centre Interstate 68 & Pierpont Road |
26508 | SC | Fee | 1999/2000 | 2007 | 100% | 111,278 | $ | 1,218,976 | $ | 9.87 | 100% | Shop n Save (2009), Michaels (2011) | |||||||||||||||||||||||||||
659
|
Weirton, WV |
Eckerd Drug Store 1360 Cove Road |
26062 | SC | Fee | 2000 | 2007 | 100% | 10,908 | $ | 221,870 | $ | 20.34 | 100% | ||||||||||||||||||||||||||||
Wisconsin | ||||||||||||||||||||||||||||||||||||||||||
660
|
Brookfield, WI |
Shoppers World of Brookfield North 124th Street & West Capital Drive |
53005 | SC | Fee (3 | ) | 1967 | 2003 | 14.5% | 182,722 | $ | 1,441,665 | $ | 7.89 | 100% | T.J. Maxx (2010), Marshalls Mega Store (2009), Office Max (2010), Burlington Coat Factory (2012) | ||||||||||||||||||||||||||
661
|
Brown Deer, WI |
Brown Deer Center North Green Bay Road |
53209 | SC | Fee (3 | ) | 1967 | 2003 | 14.5% | 266,716 | $ | 1,972,099 | $ | 7.58 | 97.6% | Kohls (2023), Michaels (2012), Office Max (2010), T.J. Maxx (2012), Old Navy (2012) | ||||||||||||||||||||||||||
662
|
Brown Deer, WI |
Market Place of Brown Deer North Green Bay Road |
53209 | SC | Fee (3 | ) | 1989 | 2003 | 14.5% | 143,372 | $ | 1,145,261 | $ | 8.19 | 97.6% | Marshalls Mega Store (2009), Pick n Save (2010) | ||||||||||||||||||||||||||
663
|
Milwaukee, WI |
Point Loomis South 27th Street |
53221 | SC | Fee | 1962 | 2003 | 100% | 160,533 | $ | 707,569 | $ | 4.41 | 100% | Kohls (2012), Pick n Save (2012) | |||||||||||||||||||||||||||
664
|
Oshkosh, WI |
Walgreens - Oshkosh 950 S. Koehler St. |
54902 | SC | Fee | 2005 | 2007 | 100% | 13,905 | $ | 305,910 | $ | 22.00 | 100% |
64
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||
Shopping Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||||
Company- |
Average |
|||||||||||||||||||||||||||||||||||||||||
Owned |
Base |
|||||||||||||||||||||||||||||||||||||||||
Type of |
Year |
DDR |
Gross |
Total |
Rent |
|||||||||||||||||||||||||||||||||||||
Zip |
Property |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
(per SF) |
Percent |
|||||||||||||||||||||||||||||||||
Center/Property | Location | Code | (1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rate | (2) | Occupied | Anchor Tenants(Lease Expiration) | ||||||||||||||||||||||||||||||
665
|
Racine, WI | Mount Pleasant Outlot Washington Ave. Village Center Dr. | 53406 | SC | Fee (3 | ) | 2003 | 2007 | 20% | 227,887 | $ | 2,469,530 | $ | 10.97 | 98.8% | Jewel (2022), Kohls (2023) | ||||||||||||||||||||||||||
666
|
West Allis, WI |
West Allis Center West Cleveland Ave. & S. 108 |
53214 | SC | Fee | 1968 | 2003 | 100% | 246,081 | $ | 1,396,934 | $ | 5.37 | 100% | Kohls (2018), Marshalls Mega Store (2009), Pick n Save (2013) |
1 | * Property developed by the Company. | |
2 | * Original IPO Property. | |
(1) | SC indicates a power center or a community shopping center, LC indicates a lifestyle center, MM indicates an enclosed Mall, and MV indicates a Mervyns site. | |
(2) | Calculated as total annualized base rentals divided by Company-owned GLA actually leased as of December 31, 2007. | |
(3) | One of the three hundred eight(308) properties owned through unconsolidated joint ventures, which serve as collateral for joint venture mortgage debt aggregating approximately $5.6 billion (of which the Companys proportionate share is $1,034.1 million) as of December 31, 2007, and which is not reflected in the consolidated indebtedness. |
65
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||
Service Merchandise Joint Venture Property List at
December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||
Company- |
||||||||||||||||||||||||||||||||||||||||
Owned |
Average |
|||||||||||||||||||||||||||||||||||||||
Year |
DDR |
Gross |
Total |
Base |
||||||||||||||||||||||||||||||||||||
Zip |
Type of |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
Rent |
Percent |
|||||||||||||||||||||||||||||||
Center/Property | Location | Code | Property(1) | Interest(3) | Redeveloped | Acquired | Interest | Area (SF) | Base Rent | (Per SF)(2) | Leased | Anchor Tenants (Lease Expiration) | ||||||||||||||||||||||||||||
Alabama
|
||||||||||||||||||||||||||||||||||||||||
1 Huntsville, AL
|
930 A Old Monrovia Road | 35806 | SC | Fee | 1984 | 2002 | 20 | % | 54,200 | $ | 381,500 | $ | 7.04 | 100 | % | H.H. Gregg Appliances (2014) | ||||||||||||||||||||||||
Arizona
|
||||||||||||||||||||||||||||||||||||||||
2 Mesa, AZ
|
6233 East Southern Blvd | 85206 | SC | Fee | 1991 | 2002 | 20 | % | 53,312 | $ | 743,429 | $ | 13.94 | 100 | % | Ashley Furniture Homestore (2013) | ||||||||||||||||||||||||
Connecticut
|
||||||||||||||||||||||||||||||||||||||||
3 Danbury, CT
|
67 Newton Road | 06810 | SC | Lease | 1978 | 2002 | 20 | % | 51,750 | $ | 543,000 | $ | 10.49 | 100 | % | Homegoods (2012), Namco Pool Supplies (2012) | ||||||||||||||||||||||||
4 Manchester, CT
|
1520 Pleasant Valley Road | 06040 | SC | GL | 1993 | 2002 | 20 | % | 49,905 | $ | 485,844 | $ | 9.74 | 100 | % | Michaels (2014), PetSmart (2014) | ||||||||||||||||||||||||
Delaware
|
||||||||||||||||||||||||||||||||||||||||
5 Dover, DE
|
1380 North Dupont Highway | 19901 | SC | Fee | 1992 | 2002 | 20 | % | 50,001 | $ | 352,047 | $ | 7.04 | 100 | % | Furniture & More (2009), PetSmart (2011) | ||||||||||||||||||||||||
Florida
|
||||||||||||||||||||||||||||||||||||||||
6 Bradenton, FL
|
825 Cortez Road West | 34207 | SC | Lease | 1995 | 2002 | 20 | % | 53,638 | $ | 330,870 | $ | 6.17 | 100 | % | Bed Bath & Beyond (2018), Michaels (2014) | ||||||||||||||||||||||||
7 Ocala, FL
|
2405 Southwest 27Th Ave | 32671 | SC | Lease | 1981 | 2002 | 20 | % | 54,816 | $ | 301,488 | $ | 5.50 | 100 | % | Kimco Ocala (2007), Bealls Outlet (2012) | ||||||||||||||||||||||||
8 Orlando, FL
|
7175 West Colonial Drive | 32818 | SC | Fee | 1989 | 2005 | 20 | % | 51,550 | $ | 0 | $ | 0.00 | 0 | % | |||||||||||||||||||||||||
9 Pensacola, FL
|
7303 Plantation Road | 32504 | SC | Fee | 1976 | 2004 | 20 | % | 64,053 | $ | 800,663 | $ | 12.50 | 100 | % | American Water Works (2015) | ||||||||||||||||||||||||
10 St. Petersburg, FL
|
2500 66th Street North | 33710 | SC | Fee | 1975 | 2002 | 20 | % | 76,438 | $ | 1,099,479 | $ | 13.27 | 100 | % | Jo-Ann Stores (2014), Homegoods (2016) | ||||||||||||||||||||||||
11 Stuart, FL
|
3257 NW Federal Highway | 34957 | SC | GL | 1989 | 2002 | 20 | % | 50,000 | $ | 195,368 | $ | 7.31 | 53.5 | % | Office Depot (2011) | ||||||||||||||||||||||||
Georgia
|
||||||||||||||||||||||||||||||||||||||||
12 Duluth, GA
|
2075 Market Street | 30136 | SC | Fee | 1983 | 2002 | 20 | % | 56,225 | $ | 316,409 | $ | 5.63 | 100 | % | Mega Amusement (2013) | ||||||||||||||||||||||||
Illinois
|
||||||||||||||||||||||||||||||||||||||||
13 Burbank, IL
|
7600 South Lacrosse Avenue | 60459 | SC | Fee | 1984 | 2002 | 20 | % | 27,213 | $ | 162,000 | $ | 11.73 | 50.8 | % | |||||||||||||||||||||||||
14 Crystal Lake, IL
|
5561 Northwest Highway | 60014 | SC | Fee | 1989 | 2002 | 20 | % | 50,092 | $ | 335,300 | $ | 8.02 | 83.4 | % | Big Lots (2012) | ||||||||||||||||||||||||
15 Downers Grove, IL
|
1508 Butterfield Road | 60515 | SC | Lease | 1973 | 2002 | 20 | % | 35,943 | $ | 420,000 | $ | 11.69 | 100 | % | Wickes Furniture (2018) | ||||||||||||||||||||||||
16 Lansing, IL
|
16795 South Torrence Avenue | 60438 | SC | Fee | 1986 | 2002 | 20 | % | 51,177 | $ | 391,948 | $ | 8.26 | 92.7 | % | Pay/Half (2017) |
66
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||
Service Merchandise Joint Venture Property List at
December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||
Company- |
||||||||||||||||||||||||||||||||||||||||
Owned |
Average |
|||||||||||||||||||||||||||||||||||||||
Year |
DDR |
Gross |
Total |
Base |
||||||||||||||||||||||||||||||||||||
Zip |
Type of |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
Rent |
Percent |
|||||||||||||||||||||||||||||||
Center/Property | Location | Code | Property(1) | Interest(3) | Redeveloped | Acquired | Interest | Area (SF) | Base Rent | (Per SF)(2) | Leased | Anchor Tenants (Lease Expiration) | ||||||||||||||||||||||||||||
Indiana
|
||||||||||||||||||||||||||||||||||||||||
17 Evansville, IN
|
300 North Green River Road | 47715 | SC | Lease | 1978 | 2002 | 20 | % | 60,000 | $ | 374,238 | $ | 8.98 | 69.5 | % | Bed Bath & Beyond (2009) | ||||||||||||||||||||||||
Kentucky
|
||||||||||||||||||||||||||||||||||||||||
18 Lexington, KY
|
1555 New Circle Road | 40509 | SC | Lease | 1978 | 2002 | 20 | % | 60,000 | $ | 367,684 | $ | 6.13 | 100 | % | Homegoods (2009), The Tile Shop (2013) | ||||||||||||||||||||||||
19 Louisville, KY
|
4601 Outer Loop Road | 40219 | SC | Fee | 1973 | 2002 | 20 | % | 49,410 | $ | 293,468 | $ | 5.94 | 100 | % | Petsmart (2018), A.J. Wright (2014) | ||||||||||||||||||||||||
20 Paducah, KY
|
5109 Hinkleville Road | 42001 | SC | Fee | 1984 | 2002 | 20 | % | 52,500 | $ | 0 | $ | 0.00 | 0 | % | |||||||||||||||||||||||||
Louisiana
|
||||||||||||||||||||||||||||||||||||||||
21 Baton Rouge, LA
|
9501 Cortana Mall | 70815 | SC | Fee | 1997 | 2004 | 20 | % | 90,000 | $ | 148,900 | $ | 1.65 | 100 | % | Flor-Line Associates (2008) | ||||||||||||||||||||||||
22 Bossier City, LA
|
2950 East Texas Street | 71111 | SC | Fee | 1982 | 2003 | 20 | % | 58,500 | $ | 0 | $ | 0.00 | 0 | % | |||||||||||||||||||||||||
23 Houma, LA
|
1636 Martin Luther King Blvd | 70360 | SC | Fee | 1992 | 2002 | 20 | % | 49,721 | $ | 324,689 | $ | 8.12 | 80.4 | % | Best Buy (2015), Bed Bath & Beyond (2018) | ||||||||||||||||||||||||
Massachusetts
|
||||||||||||||||||||||||||||||||||||||||
24 Burlington, MA
|
34 Cambridge Street | 01803 | SC | Lease | 1978 | 2002 | 20 | % | 70,800 | $ | 898,814 | $ | 12.70 | 100 | % | E & A Northeast (2014), Off Broadway Shoes (2014) | ||||||||||||||||||||||||
25 Swansea, MA
|
58 Swansea Mall Drive | 02777 | SC | GL | 1985 | 2002 | 20 | % | 49,980 | $ | 277,380 | $ | 5.55 | 100 | % | Pricerite Supermarket (2016) | ||||||||||||||||||||||||
Michigan
|
||||||||||||||||||||||||||||||||||||||||
26 Westland, MI
|
7638 Nankin Road | 48185 | SC | Fee | 1980 | 2002 | 20 | % | 50,000 | $ | 0 | $ | 0.00 | 0 | % | |||||||||||||||||||||||||
Mississippi
|
||||||||||||||||||||||||||||||||||||||||
27 Hattiesburg, MS
|
1000 Turtle Creek Drive | 39402 | SC | Fee | 1995 | 2002 | 20 | % | 50,809 | $ | 406,472 | $ | 8.00 | 100 | % | Circuit City (2020) | ||||||||||||||||||||||||
Nevada
|
||||||||||||||||||||||||||||||||||||||||
28 Las Vegas, NV
|
4701 Faircenter Parkway | 89102 | SC | Lease | 1990 | 2004 | 20 | % | 24,975 | $ | 174,825 | $ | 7.00 | 100 | % | Michaels (2011) | ||||||||||||||||||||||||
New Hampshire
|
||||||||||||||||||||||||||||||||||||||||
29 Salem, NH
|
271 South Broadway | 03079 | SC | Lease | 1985 | 2003 | 20 | % | 50,110 | $ | 574,539 | $ | 11.47 | 100 | % | Bed Bath & Beyond (2011), A.C. Moore (2016) | ||||||||||||||||||||||||
New Jersey
|
||||||||||||||||||||||||||||||||||||||||
30 Paramus, NJ
|
651 Route 17 East | 06117 | SC | Lease | 1978 | 2003 | 20 | % | 54,850 | $ | 898,563 | $ | 18.29 | 89.6 | % | Homegoods (2013) | ||||||||||||||||||||||||
31 Wayne, NJ
|
Route 23 West Belt Plaza | 07470 | SC | Lease | 1978 | 2002 | 20 | % | 49,157 | $ | 756,173 | $ | 15.38 | 100 | % | Homegoods (2010), PetSmart (2015) |
67
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||
Service Merchandise Joint Venture Property List at
December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||
Company- |
||||||||||||||||||||||||||||||||||||||||
Owned |
Average |
|||||||||||||||||||||||||||||||||||||||
Year |
DDR |
Gross |
Total |
Base |
||||||||||||||||||||||||||||||||||||
Zip |
Type of |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
Rent |
Percent |
|||||||||||||||||||||||||||||||
Center/Property | Location | Code | Property(1) | Interest(3) | Redeveloped | Acquired | Interest | Area (SF) | Base Rent | (Per SF)(2) | Leased | Anchor Tenants (Lease Expiration) | ||||||||||||||||||||||||||||
New York
|
||||||||||||||||||||||||||||||||||||||||
32 Middletown, NY
|
88-25 Dunning Road | 10940 | SC | Lease | 1989 | 2002 | 20 | % | 50,144 | $ | 409,649 | $ | 8.17 | 100 | % | Homegoods (2010), PetSmart (2010) | ||||||||||||||||||||||||
North Carolina
|
||||||||||||||||||||||||||||||||||||||||
33 Raleigh, NC
|
U.S. 17 Millbrook | 27604 | SC | Fee | 1994 | 2002 | 20 | % | 50,000 | $ | 457,028 | $ | 9.14 | 100 | % | A.C. Moore (2010), K & G Menswear (2014) | ||||||||||||||||||||||||
Oklahoma
|
||||||||||||||||||||||||||||||||||||||||
34 Warr Acres, OK
|
5537 Northwest Expressway | 73132 | SC | Fee | 1985 | 2002 | 20 | % | 50,000 | $ | 0 | $ | 0.00 | 0 | % | |||||||||||||||||||||||||
South Carolina
|
||||||||||||||||||||||||||||||||||||||||
35 N. Charleston, SC
|
7400 Rivers Avenue | 29418 | SC | Fee | 1989 | 2002 | 20 | % | 50,000 | $ | 321,638 | $ | 6.43 | 100 | % | DDR (2011), Dollar Tree (2013) | ||||||||||||||||||||||||
Tennessee
|
||||||||||||||||||||||||||||||||||||||||
36 Antioch, TN
|
5301 Hickory Hollow Pkwy | 37013 | SC | Fee | 1984 | 2002 | 20 | % | 59,319 | $ | 558,821 | $ | 9.42 | 100 | % | Office Depot (2010), Bed Bath & Beyond (2018) | ||||||||||||||||||||||||
37 Franklin, TN
|
1735 Galleria Blvd | 37064 | SC | Fee | 1992 | 2002 | 20 | % | 60,000 | $ | 705,606 | $ | 11.76 | 100 | % | H.H. Gregg Appliances (2010), Wild Oats Markets (2014) | ||||||||||||||||||||||||
38 Knoxville, TN
|
9333 Kingston Pike | 37922 | SC | Fee | 1986 | 2002 | 20 | % | 50,092 | $ | 262,983 | $ | 5.25 | 100 | % | Hobby Lobby (2010) | ||||||||||||||||||||||||
Texas
|
||||||||||||||||||||||||||||||||||||||||
39 Baytown, TX
|
6731 Garth Road | 77521 | SC | Fee | 1981 | 2002 | 20 | % | 52,288 | $ | 0 | $ | 0.00 | 0 | % | |||||||||||||||||||||||||
40 Longview, TX
|
3520 McCann Road | 75605 | SC | Fee | 1978 | 2004 | 20 | % | 40,524 | $ | 324,192 | $ | 8.00 | 100 | % | Stage (2015) | ||||||||||||||||||||||||
41 McAllen, TX
|
6600 US Expressway 83 | 78503 | SC | Fee | 1993 | 2002 | 20 | % | 59,086 | $ | 431,230 | $ | 7.96 | 91.6 | % | Michaels (2012), Bed Bath & Beyond (2018) | ||||||||||||||||||||||||
42 Richardson, TX
|
1300 East Beltline | 75081 | SC | Fee | 1978 | 2002 | 20 | % | 62,463 | $ | 454,600 | $ | 7.28 | 100 | % | Staples (2011), Conns Appliance (2014) | ||||||||||||||||||||||||
43 Sugar Land, TX
|
15235 South West Freeway | 77478 | SC | GL | 1992 | 2002 | 20 | % | 50,000 | $ | 325,000 | $ | 6.50 | 100 | % | Conns Appliance (2018) | ||||||||||||||||||||||||
Virginia
|
||||||||||||||||||||||||||||||||||||||||
44 Chesapeake, VA
|
4300 Portsmouth Blvd | 23321 | SC | GL | 1990 | 2002 | 20 | % | 50,062 | $ | 364,093 | $ | 7.27 | 100 | % | PetSmart (2016), Michaels (2011) |
(1) | SC indicates a power center or a community shopping center. | |
(2) | Calculated as total annualized base rentals divided by Company-owned GLA actually leased as of December 31, 2007. | |
(3) | See footnote 3 of the Shopping Center Property List on page 65 describing indebtedness. |
68
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||
Business Center Property List at December 31, 2007 |
||||||||||||||||||||||||||||||||||||||||
Company- |
||||||||||||||||||||||||||||||||||||||||
Owned |
||||||||||||||||||||||||||||||||||||||||
Year |
DRR |
Gross |
Total |
Average |
||||||||||||||||||||||||||||||||||||
Zip |
Type of |
Ownership |
Developed/ |
Year |
Ownership |
Leasable |
Annualized |
Base |
Percent |
|||||||||||||||||||||||||||||||
Center/Property | Location | Code | Property(1) | Interest | Redeveloped | Acquired | Interest | Area (SF) | Rent | Rent (per SF)(2) | Leased | |||||||||||||||||||||||||||||
Maryland | ||||||||||||||||||||||||||||||||||||||||
1 | Silver Springs, MD(I) |
Tech Center 29 Phase I 2120-2162 Tech Road |
20904 | IND | Fee | 1970 | 2001 | 100% | 176,674 | $ | 1,462,841 | $ | 9.61 | 86.2% | ||||||||||||||||||||||||||
2 | Silver Springs, MD (II) |
Tech Center 29 Phase II 2180 Industrial Parkway |
20904 | IND | Fee | 1991 | 2001 | 100% | 58,280 | $ | 504,226 | $ | 10.25 | 84.4% | ||||||||||||||||||||||||||
3 | Silver Springs, MD (III) |
Tech Center 29 Phase III 12200 Tech Road |
20904 | OFF | Fee | 1988 | 2001 | 100% | 55,715 | $ | 1,215,848 | $ | 23.01 | 94.8% | ||||||||||||||||||||||||||
Massachusetts | ||||||||||||||||||||||||||||||||||||||||
4 | Chelmsford, MA |
Apollo Drive Office Building 300 Apollo Drive |
01824 | OFF | Fee | 1987 | 2001 | 55.84% | 291,424 | $ | 1,641,996 | $ | 9.85 | 57.2% | ||||||||||||||||||||||||||
Ohio | ||||||||||||||||||||||||||||||||||||||||
5 | Twinsburg, OH |
Heritage Business I 9177 Dutton Drive |
44087 | IND | Fee | 1990 | 2 | * | 100% | 35,866 | $ | 137,554 | $ | 6.82 | 54.5% | |||||||||||||||||||||||||
Pennsylvania | ||||||||||||||||||||||||||||||||||||||||
6 | Erie, PA |
38th Street Plaza 2301 West 38th Street |
16506 | IND | GL | 1973 | 2 | * | 100% | 96,000 | $ | 264,150 | $ | 5.22 | 56.9% | |||||||||||||||||||||||||
Utah | ||||||||||||||||||||||||||||||||||||||||
7 | Salt Lake City, UT |
The Hermes Building 455 East 500 South Street |
84111 | IND | Fee | 1985 | 1998 | 100% | 53,476 | $ | 734,257 | $ | 16.11 | 85.2% |
2* | Original IPO Property transferred to American Industrial Properties (AIP) in 1998 and reacquired in 2001 through AIP merger. | |
(1) | These properties are classified as the Companys business center segment. OFF indicates office property and IND indicates industrial property. | |
(2) | Calculated as total annualized base rental divided by Company-owned GLA actually leased as of December 31, 2007. |
69
Item 3. | LEGAL PROCEEDINGS |
Item 4. | SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS |
Name
|
Age
|
Position and Office With the Company
|
||||
Scott A. Wolstein
|
55 | Chairman of the Board of Directors and Chief Executive Officer | ||||
Daniel B. Hurwitz
|
43 | President and Chief Operating Officer | ||||
David J. Oakes
|
29 | Executive Vice President of Finance and Chief Investment Officer | ||||
Joan U. Allgood
|
55 | Executive Vice President Corporate Transactions and Governance | ||||
Richard E. Brown
|
56 | Executive Vice President International | ||||
Timothy J. Bruce
|
50 | Executive Vice President of Development | ||||
William H. Schafer
|
49 | Executive Vice President and Chief Financial Officer | ||||
Robin R. Walker-Gibbons
|
51 | Executive Vice President of Leasing | ||||
Christa A. Vesy
|
37 | Senior Vice President and Chief Accounting Officer |
70
71
Item 5. | MARKET FOR REGISTRANTS COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES |
High | Low | Dividends | ||||||||||
2007:
|
||||||||||||
First
|
$ | 72.33 | $ | 61.43 | $ | 0.66 | ||||||
Second
|
66.70 | 50.75 | 0.66 | |||||||||
Third
|
56.85 | 46.28 | 0.66 | |||||||||
Fourth
|
59.27 | 37.42 | 0.66 | |||||||||
2006:
|
||||||||||||
First
|
$ | 56.99 | $ | 46.96 | $ | 0.59 | ||||||
Second
|
54.81 | 48.49 | 0.59 | |||||||||
Third
|
56.18 | 51.11 | 0.59 | |||||||||
Fourth
|
66.36 | 55.33 | 0.59 |
72
(c) Total |
(d) Maximum |
|||||||||||||||||||
Number of |
Number (or |
|||||||||||||||||||
Shares |
Approximate |
|||||||||||||||||||
Purchased as |
Dollar Value) of |
|||||||||||||||||||
Part of Publicly |
Shares that May |
|||||||||||||||||||
(a) Total Number |
(b) Average |
Announced |
Yet Be Purchased |
|||||||||||||||||
of Shares |
Price Paid per |
Plans or |
Under the Plans or |
|||||||||||||||||
Purchased | Share | Programs | Programs (Millions) | |||||||||||||||||
October 1 31, 2007
|
| $ | | | $ | | ||||||||||||||
November 1 30, 2007
|
| | 3,428,197 | 211.9 | ||||||||||||||||
December 1 31, 2007
|
114 | 40.43 | | | ||||||||||||||||
Total
|
114 | $ | 40.43 | 3,428,197 | $ | 211.9 |
73
Item 6. | SELECTED FINANCIAL DATA |
For the Years Ended December 31, | ||||||||||||||||||||
2007 (1) | 2006 (1) | 2005 (1) | 2004 (1) | 2003 (1) | ||||||||||||||||
Operating Data:
|
||||||||||||||||||||
Revenues
|
$ | 944,851 | $ | 775,324 | $ | 678,109 | $ | 532,383 | $ | 417,481 | ||||||||||
Expenses:
|
||||||||||||||||||||
Rental operations
|
323,555 | 257,782 | 225,308 | 176,762 | 143,551 | |||||||||||||||
Depreciation & amortization
|
219,101 | 182,007 | 153,605 | 116,145 | 83,276 | |||||||||||||||
542,656 | 439,789 | 378,913 | 292,907 | 226,827 | ||||||||||||||||
Interest income
|
8,808 | 9,053 | 10,004 | 4,205 | 5,082 | |||||||||||||||
Interest expense
|
(261,318 | ) | (208,512 | ) | (170,587 | ) | (115,580 | ) | (79,201 | ) | ||||||||||
Other expense, net
|
(3,019 | ) | (446 | ) | (2,532 | ) | (1,779 | ) | (10,119 | ) | ||||||||||
(255,529 | ) | (199,905 | ) | (163,115 | ) | (113,154 | ) | (84,238 | ) | |||||||||||
Income before equity in net income of joint ventures, gain on
disposition of joint venture interests, minority equity
interests, income tax benefit (expense) of taxable REIT
subsidiaries and franchise taxes, discontinued operations, gain
on disposition of real estate and cumulative effect of adoption
of a new accounting standard
|
146,666 | 135,630 | 136,081 | 126,322 | 106,416 | |||||||||||||||
Equity in net income of joint ventures
|
43,229 | 30,337 | 34,873 | 40,895 | 44,967 | |||||||||||||||
Gain on disposition of joint venture interests
|
| | | | 7,950 | |||||||||||||||
Minority equity interests
|
(17,783 | ) | (8,453 | ) | (7,881 | ) | (5,064 | ) | (5,365 | ) | ||||||||||
Income tax benefit (expense) of taxable REIT subsidiaries and
franchise taxes
|
14,642 | 2,497 | (276 | ) | (1,467 | ) | (1,621 | ) | ||||||||||||
Income from continuing operations
|
186,754 | 160,011 | 162,797 | 160,686 | 152,347 | |||||||||||||||
Discontinued operations:
|
||||||||||||||||||||
Income from discontinued operations
|
8,183 | 10,179 | 15,039 | 18,874 | 13,522 | |||||||||||||||
Gain on disposition of real estate, net of tax
|
12,259 | 11,051 | 16,667 | 8,561 | 460 | |||||||||||||||
20,442 | 21,230 | 31,706 | 27,435 | 13,982 | ||||||||||||||||
Income before gain on disposition of real estate
|
207,196 | 181,241 | 194,503 | 188,121 | 166,329 | |||||||||||||||
Gain on disposition of real estate
|
68,851 | 72,023 | 88,140 | 84,642 | 73,932 | |||||||||||||||
Cumulative effect of adoption of a new accounting standard
|
| | | (3,001 | ) | | ||||||||||||||
Net income
|
$ | 276,047 | $ | 253,264 | $ | 282,643 | $ | 269,762 | $ | 240,261 | ||||||||||
Net income applicable to common shareholders
|
$ | 225,113 | $ | 198,095 | $ | 227,474 | $ | 219,056 | $ | 189,056 | ||||||||||
74
For the Years Ended December 31, | ||||||||||||||||||||
2007 (1) | 2006 (1) | 2005 (1) | 2004 (1) | 2003 (1) | ||||||||||||||||
Earnings per share data Basic:
|
||||||||||||||||||||
Income from continuing operations
|
$ | 1.69 | $ | 1.63 | $ | 1.81 | $ | 2.02 | $ | 2.14 | ||||||||||
Income from discontinued operations
|
0.17 | 0.19 | 0.29 | 0.28 | 0.17 | |||||||||||||||
Cumulative effect of adoption of a new accounting standard
|
| | | (0.03 | ) | | ||||||||||||||
Net income applicable to common shareholders
|
$ | 1.86 | $ | 1.82 | $ | 2.10 | $ | 2.27 | $ | 2.31 | ||||||||||
Weighted average number of common shares
|
120,879 | 109,002 | 108,310 | 96,638 | 81,903 | |||||||||||||||
Earnings per share data Diluted:
|
||||||||||||||||||||
Income from continuing operations
|
$ | 1.68 | $ | 1.62 | $ | 1.79 | $ | 1.99 | $ | 2.10 | ||||||||||
Income from discontinued operations
|
0.17 | 0.19 | 0.29 | 0.28 | 0.17 | |||||||||||||||
Cumulative effect of adoption of a new accounting standard
|
| | | (0.03 | ) | | ||||||||||||||
Net income applicable to common shareholders
|
$ | 1.85 | $ | 1.81 | $ | 2.08 | $ | 2.24 | $ | 2.27 | ||||||||||
Weighted average number of common shares
|
121,497 | 109,613 | 109,142 | 99,024 | 84,188 | |||||||||||||||
Cash dividends declared
|
$ | 2.64 | $ | 2.36 | $ | 2.16 | $ | 1.94 | $ | 1.69 |
At December 31, | ||||||||||||||||||||
2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||
Balance Sheet Data:
|
||||||||||||||||||||
Real estate (at cost)
|
$ | 8,984,671 | $ | 7,447,459 | $ | 7,029,337 | $ | 5,603,424 | $ | 3,884,911 | ||||||||||
Real estate, net of accumulated depreciation
|
7,960,623 | 6,586,193 | 6,336,514 | 5,035,193 | 3,426,698 | |||||||||||||||
Investments in and advances to joint ventures
|
638,111 | 291,685 | 275,136 | 288,020 | 260,143 | |||||||||||||||
Total assets
|
9,089,816 | 7,179,753 | 6,862,977 | 5,583,547 | 3,941,151 | |||||||||||||||
Total debt
|
5,591,014 | 4,248,812 | 3,891,001 | 2,718,690 | 2,083,131 | |||||||||||||||
Shareholders equity
|
2,998,825 | 2,496,183 | 2,570,281 | 2,554,319 | 1,614,070 |
75
For the Years Ended December 31, | ||||||||||||||||||||
2007 (1) | 2006 (1) | 2005 (1) | 2004 (1) | 2003 (1) | ||||||||||||||||
Cash Flow Data:
|
||||||||||||||||||||
Cash flow provided by (used for):
|
||||||||||||||||||||
Operating activities
|
$ | 414,616 | $ | 340,692 | $ | 355,423 | $ | 292,226 | $ | 263,129 | ||||||||||
Investing activities
|
(1,148,316 | ) | (203,047 | ) | (339,443 | ) | (1,134,601 | ) | (16,246 | ) | ||||||||||
Financing activities
|
755,491 | (139,922 | ) | (35,196 | ) | 880,553 | (251,561 | ) | ||||||||||||
Other Data:
|
||||||||||||||||||||
Funds from operations (2):
|
||||||||||||||||||||
Net income applicable to common shareholders
|
$ | 225,113 | $ | 198,095 | $ | 227,474 | $ | 219,056 | $ | 189,056 | ||||||||||
Depreciation and amortization of real estate investments
|
214,396 | 185,449 | 169,117 | 130,536 | 93,174 | |||||||||||||||
Equity in net income from joint ventures
|
(43,229 | ) | (30,337 | ) | (34,873 | ) | (40,895 | ) | (44,967 | ) | ||||||||||
Gain on disposition of joint venture interests
|
| | | | (7,950 | ) | ||||||||||||||
Joint ventures funds from operations (2)
|
84,423 | 44,473 | 49,302 | 46,209 | 47,942 | |||||||||||||||
Minority equity interests (OP Units)
|
2,275 | 2,116 | 2,916 | 2,607 | 1,769 | |||||||||||||||
Gain on disposition of depreciable real estate investments, net
|
(17,956 | ) | (21,987 | ) | (58,834 | ) | (68,179 | ) | (67,352 | ) | ||||||||||
Cumulative effect of adoption of a new accounting standard
|
| | | 3,001 | | |||||||||||||||
Funds from operations applicable to common shareholders (2)
|
465,022 | 377,809 | 355,102 | 292,335 | 211,672 | |||||||||||||||
Preferred share dividends
|
50,934 | 55,169 | 55,169 | 50,706 | 51,205 | |||||||||||||||
$ | 515,956 | $ | 432,978 | $ | 410,271 | $ | 343,041 | $ | 262,877 | |||||||||||
Weighted average shares and OP Units (Diluted) (3)
|
122,716 | 110,826 | 110,700 | 99,147 | 84,319 |
(1) | As described in the consolidated financial statements, the Company acquired 317 properties in 2007 (including 68 of which were acquired through unconsolidated joint ventures), 20 properties in 2006 (including 15 of which were acquired through unconsolidated joint ventures and four of which the Company acquired its joint venture partners interest), 52 properties in 2005 (including 36 of which were acquired through unconsolidated joint ventures and one of which the Company acquired its joint venture partners interest), 112 properties in 2004 (18 of which were acquired through unconsolidated joint ventures and one of which the Company acquired its joint venture partners interest) and 124 properties in 2003 (three of which the Company acquired its joint venture partners interest). The Company sold 74 properties in 2007 (seven of which were owned through unconsolidated joint ventures), 15 properties in 2006 (nine of which were owned through unconsolidated joint ventures), 47 properties in 2005 (12 of which were owned through unconsolidated joint ventures), 28 properties in 2004 (13 of which were owned through unconsolidated joint ventures) and 38 properties in 2003 (12 of which were owned through unconsolidated joint ventures). All amounts have been presented in accordance with Statement of Financial Accounting Standards (SFAS) No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets. In accordance with that standard, long-lived assets that were sold or classified as held for sale as a result of disposal activities, have been classified as discontinued operations for all periods presented. | |
(2) | Management believes that Funds From Operations (FFO), which is a non-GAAP financial measure, provides an additional and useful means to assess the financial performance of a REIT. It is frequently used by securities analysts, investors and other interested parties to evaluate the performance of REITs, most of which present FFO along with net income as calculated in accordance with GAAP. FFO applicable to common shareholders is generally defined and calculated by the Company as net income, adjusted to exclude: (i) preferred share dividends, (ii) gains from disposition of depreciable real estate property, except for those sold through the Companys merchant building program, which are |
76
presented net of taxes, (iii) extraordinary items and (iv) certain non-cash items. These non-cash items principally include real property depreciation, equity income from joint ventures and adding the Companys proportionate share of FFO from its unconsolidated joint ventures, determined on a consistent basis. Management believes that FFO provides the Company and investors with an important indicator of the Companys operating performance. This measure of performance is used by the Company for several business purposes and for REITs it provides a recognized measure of performance other than GAAP net income, which may include non-cash items (often significant). Other real estate companies may calculate FFO in a different manner. | ||
(3) | Represents weighted average shares and operating partnership units, or OP Units, at the end of the respective period. |
Item 7. | MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS |
| The Company is subject to general risks affecting the real estate industry, including the need to enter into new leases or renew leases on favorable terms to generate rental revenues; | |
| The Company could be adversely affected by changes in the local markets where its properties are located, as well as by adverse changes in national economic and market conditions; | |
| The Company may fail to anticipate the effects on its properties of changes in consumer buying practices, including sales over the Internet and the resulting retailing practices and space needs of its tenants; | |
| The Company is subject to competition for tenants from other owners of retail properties, and its tenants are subject to competition from other retailers and methods of distribution. The Company is dependent upon the successful operations and financial condition of its tenants, in particular of its major tenants, and could be adversely affected by the bankruptcy of those tenants; | |
| The Company may not realize the intended benefits of acquisition or merger transactions. The acquired assets may not perform as well as the Company anticipated, or the Company may not successfully integrate the assets and realize the improvements in occupancy and operating results that the Company anticipates. The acquisition of certain assets may subject the Company to liabilities, including environmental liabilities; | |
| The Company may fail to identify, acquire, construct or develop additional properties that produce a desired yield on invested capital, or may fail to effectively integrate acquisitions of properties or |
77
| The Company may fail to dispose of properties on favorable terms. In addition, real estate investments can be illiquid and limit the Companys ability to promptly make changes to its portfolio to respond to economic and other conditions; | |
| The Company may abandon a development opportunity after expending resources if it determines that the development opportunity is not feasible, or if it is unable to obtain all necessary zoning and other required governmental permits and authorizations; | |
| The Company may not complete development projects on schedule as a result of various factors, many of which are beyond the Companys control, such as weather, labor conditions, governmental approvals, material shortages, or general economic downturn resulting in increased debt service expense and construction costs and decreases in revenue; | |
| The Companys financial condition may be affected by required debt service payments, the risk of default and restrictions on its ability to incur additional debt or enter into certain transactions under its credit facilities and other documents governing its debt obligations. In addition, the Company may encounter difficulties in obtaining permanent financing; | |
| Debt and/or equity financing necessary for the Company to continue to grow and operate its business may not be available or may not be available on favorable terms; | |
| The Company is subject to complex regulations related to its status as a real estate investment trust (REIT) and would be adversely affected if it failed to qualify as a REIT; | |
| The Company must make distributions to shareholders to continue to qualify as a REIT, and if the Company borrows funds to make distributions, those borrowings may not be available on favorable terms; | |
| Joint venture investments may involve risks not otherwise present for investments made solely by the Company, including the possibility that a partner or co-venturer may become bankrupt, may at any time have different interests or goals than those of the Company and may take action contrary to the Companys instructions, requests, policies or objectives, including the Companys policy with respect to maintaining its qualification as a REIT; | |
| The Company may not realize anticipated returns from its real estate assets outside the United States. The Company expects to continue to pursue international opportunities that may subject the Company to different or greater risks than those associated with its domestic operations. The Company owns assets in Puerto Rico, an interest in an unconsolidated joint venture that owns properties in Brazil and an interest in recently formed consolidated joint ventures that will develop and own properties in Canada, Russia and Ukraine; | |
| International development and ownership activities carry risks that are different from those the Company faces with the Companys domestic properties and operations. These risks include: |
| Adverse effects of changes in exchange rates for foreign currencies; | |
| Changes in foreign political or economic environments; | |
| Challenges of complying with a wide variety of foreign laws including taxes, addressing different practices and customs relating to corporate governance, operations and litigation; | |
| Different lending practices; | |
| Cultural and consumer differences; | |
| Changes in applicable laws and regulations in the United States that affect foreign operations; | |
| Difficulties in managing international operations and |
78
| Obstacles to the repatriation of earnings and cash; |
| Although the Companys international activities are currently a relatively small portion of its business, to the extent the Company expands its international activities, these risks could significantly increase and adversely affect its results of operations and financial condition; | |
| The Company is subject to potential environmental liabilities; | |
| The Company may incur losses that are uninsured or exceed policy coverage due to its liability for certain injuries to persons, property or the environment occurring on its properties; | |
| The Company could incur additional expenses in order to comply with or respond to claims under the Americans with Disabilities Act or otherwise be adversely affected by changes in government regulations, including changes in environmental, zoning, tax and other regulations and | |
| Changes in interest rates could adversely affect the market price of the Companys common shares, as well as its performance and cash flow. |
| Invest in a core portfolio of shopping centers that provide above average returns and regularly review each assets return prospects; | |
| Develop new shopping centers with expected yields that meaningfully exceed those available in the acquisition market; | |
| Acquire under-managed assets where initial returns can be enhanced by the Companys leasing and redevelopment platforms; | |
| Grow assets under management and fee income by structuring funds that can provide investors attractive risk-adjusted returns and | |
| Explore international markets and selectively invest where the greatest value creation opportunities exist. |
| Strong leasing relationships with the nations leading retailers; |
79
| National asset management platform focused on maximizing portfolio profitability through strategic leasing and efficient operations; | |
| Comprehensive in-house development and redevelopment capability; | |
| Dedicated ancillary income and peripheral land development departments; | |
| Broad access to capital through diverse banking and institutional relationships and | |
| Proven performance as a real estate fund manager and investment partner to an extensive group of well-capitalized domestic and international institutions. |
80
81
82
83
84
% of Total |
||||||||
Shopping Center |
% of Company-Owned |
|||||||
Tenant
|
Base Rental Revenues | Shopping Center GLA | ||||||
1. Wal-Mart/Sams Club
|
4.3 | % | 7.3 | % | ||||
2. Mervyns
|
2.4 | 2.2 | ||||||
3. PetSmart
|
2.0 | 1.6 | ||||||
4. T.J. Maxx/Marshalls/A.J. Wright/Homegoods
|
2.0 | 2.4 | ||||||
5. Lowes Home Improvement
|
1.9 | 3.3 | ||||||
6. Bed Bath & Beyond
|
1.6 | 1.4 | ||||||
7. Circuit City
|
1.6 | 1.2 | ||||||
8. Kohls
|
1.3 | 2.1 | ||||||
9. Michaels
|
1.3 | 1.3 | ||||||
10. Eckerd Drug
|
1.3 | 0.6 |
Wholly-Owned Properties | Joint Venture Properties | |||||||||||||||
% of |
% of |
% of |
% of |
|||||||||||||
Shopping Center |
Company-Owned |
Shopping Center |
Company-Owned |
|||||||||||||
Base Rental |
Shopping Center |
Base Rental |
Shopping Center |
|||||||||||||
Tenant
|
Revenues | GLA | Revenues | GLA | ||||||||||||
Wal-Mart/Sams Club
|
5.2 | % | 8.5 | % | 1.8 | % | 3.3 | % | ||||||||
Lowes Home Improvement
|
2.3 | 3.9 | 0.7 | 1.1 | ||||||||||||
PetSmart
|
2.0 | 1.6 | 2.4 | 2.3 | ||||||||||||
T.J. Maxx/Marshalls/A.J. Wright/Homegoods
|
1.9 | 2.4 | 2.6 | 3.3 | ||||||||||||
Eckerd Drug
|
1.7 | 0.8 | | | ||||||||||||
Circuit City
|
1.7 | 1.2 | 1.4 | 1.3 | ||||||||||||
Bed, Bath, & Beyond
|
1.6 | 1.4 | 1.6 | 1.8 | ||||||||||||
Home Depot
|
1.3 | 1.8 | 0.3 | 0.5 | ||||||||||||
Ahold USA
|
1.3 | 1.1 | 1.5 | 1.7 | ||||||||||||
Michaels
|
1.3 | 1.2 | 1.5 | 1.7 | ||||||||||||
Kohls
|
1.2 | 1.8 | 2.1 | 3.6 | ||||||||||||
Mervyns
|
0.2 | 0.1 | 4.4 | 4.7 | ||||||||||||
Publix Supermarkets
|
0.4 | 0.6 | 2.6 | 3.6 | ||||||||||||
Linens n Things
|
0.8 | 0.5 | 1.6 | 1.6 | ||||||||||||
Ross Dress For Less
|
0.9 | 0.8 | 1.6 | 1.9 |
85
86
87
Buildings
|
Useful lives, ranging from 30 to 40 years | |
Fixtures and tenant improvements
|
Useful lives, which approximate lease terms, where applicable |
88
89
90
Year Ended |
||||
December 31, |
||||
2005 | ||||
Net income, as reported
|
$ | 282,643 | ||
Add: Stock-based employee compensation included in reported net
income
|
5,652 | |||
Deduct: Total stock-based employee compensation expense
determined under fair value based method for all awards
|
(5,319 | ) | ||
$ | 282,976 | |||
Earnings Per Share:
|
||||
Basic as reported
|
$ | 2.10 | ||
Basic pro forma
|
$ | 2.10 | ||
Diluted as reported
|
$ | 2.08 | ||
Diluted pro forma
|
$ | 2.09 | ||
91
2007 | 2006 | $ Change | % Change | |||||||||||||
Base and percentage rental revenues
|
$ | 654,980 | $ | 541,304 | $ | 113,676 | 21.0 | % | ||||||||
Recoveries from tenants
|
205,664 | 169,313 | 36,351 | 21.5 | ||||||||||||
Ancillary and other property income
|
19,642 | 19,556 | 86 | 0.4 | ||||||||||||
Management, development and other fee income
|
50,840 | 30,294 | 20,546 | 67.8 | ||||||||||||
Other
|
13,725 | 14,857 | (1,132 | ) | (7.6 | ) | ||||||||||
Total revenues
|
$ | 944,851 | $ | 775,324 | $ | 169,527 | 21.9 | % | ||||||||
Increase |
||||
(Decrease) | ||||
Core Portfolio Properties
|
$ | 7.0 | ||
IRRETI merger
|
113.0 | |||
Development/redevelopment of shopping center properties
|
7.3 | |||
Disposition of shopping center properties in 2007 and 2006
|
(11.6 | ) | ||
Business center properties
|
1.6 | |||
Straight-line rents
|
(3.6 | ) | ||
$ | 113.7 | |||
92
Increase |
||||
(Decrease) | ||||
IRRETI merger
|
$ | 28.2 | ||
Acquisition and development/redevelopment of shopping center
properties in 2007 and 2006
|
5.3 | |||
Transfer of assets to unconsolidated joint ventures in 2007 and
2006
|
(3.3 | ) | ||
Net increase in operating expenses at the remaining shopping
center and business center properties
|
6.2 | |||
$ | 36.4 | |||
Increase |
||||
(Decrease) | ||||
Newly formed unconsolidated joint venture interests
|
$ | 11.4 | ||
Development fee income
|
3.0 | |||
Asset management fee income
|
3.3 | |||
Other income
|
2.3 | |||
Sale of several of the Companys unconsolidated joint
venture properties
|
(0.2 | ) | ||
Leasing commissions
|
0.7 | |||
$ | 20.5 | |||
93
Year Ended |
||||||||
December 31, | ||||||||
2007 | 2006 | |||||||
Lease terminations and bankruptcy settlements (1)
|
$ | 5.0 | $ | 14.0 | ||||
Acquisition and financing fees (2)
|
7.9 | 0.4 | ||||||
Other, net
|
0.8 | 0.5 | ||||||
$ | 13.7 | $ | 14.9 | |||||
(1) | For the year ended December 31, 2006, the Company executed lease terminations on four vacant Wal-Mart spaces in the Companys wholly-owned portfolio. | |
(2) | Includes acquisition fees of $6.3 million earned from the formation of the TIAA-CREF Joint Venture in February 2007 excluding the Companys retained ownership interest. The Companys fee was earned in conjunction with services rendered by the Company in connection with the acquisition of the IRRETI real estate assets. Financing fees are earned in connection with the formation and refinancing of unconsolidated joint ventures, excluding the Companys retained ownership interest. The Companys fees are earned in conjunction with the closing and amount of the financing transaction by the joint venture. |
2007 | 2006 | $ Change | % Change | |||||||||||||
Operating and maintenance
|
$ | 133,334 | $ | 107,208 | $ | 26,126 | 24.4 | % | ||||||||
Real estate taxes
|
108,977 | 89,895 | 19,082 | 21.2 | ||||||||||||
General and administrative
|
81,244 | 60,679 | 20,565 | 33.9 | ||||||||||||
Depreciation and amortization
|
219,101 | 182,007 | 37,094 | 20.4 | ||||||||||||
$ | 542,656 | $ | 439,789 | $ | 102,867 | 23.4 | % | |||||||||
Operating |
||||||||||||
and |
Real Estate |
|||||||||||
Maintenance | Taxes | Depreciation | ||||||||||
Core Portfolio Properties
|
$ | 3.9 | $ | 1.1 | $ | 3.5 | ||||||
IRRETI merger
|
15.3 | 18.9 | 34.5 | |||||||||
Acquisition and development/redevelopment of shopping center
properties
|
5.4 | 1.2 | 0.9 | |||||||||
Transfer of assets to unconsolidated joint ventures in 2007 and
2006
|
(1.7 | ) | (2.2 | ) | (3.5 | ) | ||||||
Business center properties
|
0.9 | 0.1 | 1.3 | |||||||||
Provision for bad debt expense
|
2.3 | | | |||||||||
Personal property
|
| | 0.4 | |||||||||
$ | 26.1 | $ | 19.1 | $ | 37.1 | |||||||
94
2007 | 2006 | $ Change | % Change | |||||||||||||
Interest income
|
$ | 8,808 | $ | 9,053 | $ | (245 | ) | (2.7 | )% | |||||||
Interest expense
|
(261,318 | ) | (208,512 | ) | (52,806 | ) | 25.3 | |||||||||
Other expense, net
|
(3,019 | ) | (446 | ) | (2,573 | ) | 576.9 | |||||||||
$ | (255,529 | ) | $ | (199,905 | ) | $ | (55,624 | ) | 27.8 | % | ||||||
95
2007 | 2006 | $ Change | % Change | |||||||||||||
Equity in net income of joint ventures
|
$ | 43,229 | $ | 30,337 | $ | 12,892 | 42.5 | % | ||||||||
Minority equity interests
|
(17,783 | ) | (8,453 | ) | (9,330 | ) | 110.4 | |||||||||
Income tax benefit of taxable REIT subsidiaries and franchise
taxes
|
14,642 | 2,497 | 12,145 | 486.4 |
Increase |
||||
(Decrease) | ||||
Increase in gains from sale transactions as compared to 2006
|
$ | 6.3 | ||
Purchase of joint venture interests by DDR
|
(0.7 | ) | ||
Acquisition of assets by unconsolidated joint ventures
|
6.5 | |||
Primarily re-tenanting and refinancing at two joint ventures
|
0.5 | |||
Various other increases
|
0.3 | |||
$ | 12.9 | |||
2007 Dispositions
|
2006 Dispositions
|
|
One 25.5% effectively owned shopping center
|
One 50% effectively owned shopping center | |
Six sites formerly occupied by Service Merchandise
|
Four 25.5% effectively owned shopping centers | |
One 20.75% effectively owned shopping center | ||
Two sites formerly occupied by Service Merchandise | ||
One 10% effectively owned shopping center |
96
(Increase) |
||||
Decrease | ||||
Preferred OP Units (1)
|
$ | (9.7 | ) | |
Mervyns Joint Venture, which is owned approximately 50% by the
Company
|
(0.1 | ) | ||
2007 acquisition of remaining interest in Coventry I
|
0.3 | |||
Decrease due to newly formed joint venture under development
|
0.2 | |||
$ | (9.3 | ) | ||
(1) | Preferred OP Units were issued in February 2007 as part of the financing of the IRRETI merger. These units were redeemed in June 2007. |
2007 | 2006 | $ Change | % Change | |||||||||||||
Income from discontinued operations
|
$ | 8,183 | $ | 10,179 | $ | (1,996 | ) | (19.6 | )% | |||||||
Gain on disposition of real estate, net of tax
|
12,259 | 11,051 | 1,208 | 10.9 | ||||||||||||
$ | 20,442 | $ | 21,230 | $ | (788 | ) | (3.7 | )% | ||||||||
2007 | 2006 | $ Change | % Change | |||||||||||||
Gain on disposition of real estate
|
$ | 68,851 | $ | 72,023 | $ | (3,172 | ) | (4.4 | )% |
97
Year Ended |
||||||||
December 31, | ||||||||
2007 | 2006 | |||||||
Transfer of assets to DDR Domestic Retail Fund I (1)(2)
|
$ | 1.8 | $ | | ||||
Transfer of assets to Dividend Capital Total Realty
Trust Joint Venture (1)(3)
|
50.3 | | ||||||
Transfer of assets to DPG Realty Holdings LLC (1)(4)
|
| 0.6 | ||||||
Transfer of assets to DDR Macquarie Fund LLC (1)(5)
|
| 9.2 | ||||||
Transfer of assets to DDR MDT PS LLC (1)(6)
|
| 38.9 | ||||||
Transfer of assets to Service Holdings LLC (1)(7)
|
| 6.1 | ||||||
Land sales (8)
|
14.0 | 14.8 | ||||||
Previously deferred gains and other gains and losses on
dispositions (9)
|
2.8 | 2.4 | ||||||
$ | 68.9 | $ | 72.0 | |||||
(1) | This disposition is not classified as discontinued operations due to the Companys continuing involvement through its retained ownership interest and management agreements. | |
(2) | The Company transferred two wholly-owned assets. The Company did not record a gain on the contribution of 54 assets, as these assets were recently acquired through the merger with IRRETI. | |
(3) | The Company transferred three recently developed assets. | |
(4) | The Company transferred a newly developed expansion area adjacent to a shopping center owned by the joint venture. | |
(5) | The Company transferred newly developed expansion areas adjacent to four shopping centers owned by the joint venture in 2006. The Company did not record a gain on the contribution of three assets in 2007, as these assets were recently acquired through the merger with IRRETI. | |
(6) | The Company transferred six recently developed assets. | |
(7) | The Company transferred 51 retail sites previously occupied by Service Merchandise. | |
(8) | These dispositions did not meet the criteria for discontinued operations as the land did not have any significant operations prior to disposition. | |
(9) | These gains and losses are primarily attributable to the subsequent leasing of units related to master lease and other obligations originally established on disposed properties, which are no longer required. |
2007 | 2006 | $ Change | % Change | |||||||||||||
Net Income
|
$ | 276,047 | $ | 253,264 | $ | 22,783 | 9.0 | % | ||||||||
98
Increase in net operating revenues (total revenues in excess of
operating and maintenance expenses and real estate taxes)
|
$ | 124.4 | ||
Increase in general and administrative expenses
|
(20.6 | ) | ||
Increase in depreciation expense
|
(37.1 | ) | ||
Decrease in interest income
|
(0.2 | ) | ||
Increase in interest expense
|
(52.8 | ) | ||
Change in other expense
|
(2.6 | ) | ||
Increase in equity in net income of joint ventures
|
12.9 | |||
Increase in minority interest expense
|
(9.3 | ) | ||
Change in income tax benefit (expense)
|
12.1 | |||
Decrease in income from discontinued operations
|
(2.0 | ) | ||
Increase in gain on disposition of real estate of discontinued
operations properties
|
1.2 | |||
Decrease in gain on disposition of real estate
|
(3.2 | ) | ||
Increase in net income
|
$ | 22.8 | ||
2006 | 2005 | $ Change | % Change | |||||||||||||
Base and percentage rental revenues
|
$ | 541,304 | $ | 483,928 | $ | 57,376 | 11.9 | % | ||||||||
Recoveries from tenants
|
169,313 | 148,644 | 20,669 | 13.9 | ||||||||||||
Ancillary income and other property income
|
19,556 | 14,216 | 5,340 | 37.6 | ||||||||||||
Management, development and other fee income
|
30,294 | 22,859 | 7,435 | 32.5 | ||||||||||||
Other
|
14,857 | 8,462 | 6,395 | 75.6 | ||||||||||||
Total revenues
|
$ | 775,324 | $ | 678,109 | $ | 97,215 | 14.3 | % | ||||||||
Increase |
||||
(Decrease) | ||||
Core Portfolio Properties
|
$ | 11.0 | ||
Acquisition of real estate assets
|
44.5 | |||
Development/redevelopment of shopping center properties
|
3.6 | |||
Consolidation of a joint venture asset (EITF
04-05)
|
4.3 | |||
Transfer of properties to unconsolidated joint ventures
|
(9.3 | ) | ||
Business center properties under redevelopment
|
(1.4 | ) | ||
Service Merchandise assets (1)
|
2.9 | |||
Straight-line rents
|
1.8 | |||
$ | 57.4 | |||
99
(1) | During 2006 the Company acquired the Service Merchandise sites previously owned through the KLA/SM Joint Venture and subsequently sold these assets to the Service Holdings LLC Joint Venture. These assets were consolidated within the Companys accounts for approximately two months during the third quarter of 2006. |
Increase |
||||
(Decrease) | ||||
Acquisition and development/redevelopment of shopping center
properties in 2006 and 2005
|
$ | 17.8 | ||
Transfer of properties to unconsolidated joint ventures in 2006
and 2005
|
(3.3 | ) | ||
Consolidation of a joint venture asset (EITF
04-05)
|
1.2 | |||
Service Merchandise assets
|
0.8 | |||
Net increase in operating expenses at the remaining shopping
center and business center properties
|
4.2 | |||
$ | 20.7 | |||
100
Increase |
||||
(Decrease) | ||||
Unconsolidated joint venture interests formed in 2005 and the
continued growth of DDR Macquarie Fund LLC
|
$ | 1.3 | ||
Other income
|
4.9 | |||
Other fee income
|
3.2 | |||
Development fee income
|
(0.2 | ) | ||
Sale of several of the Companys unconsolidated joint
venture properties
|
(1.8 | ) | ||
$ | 7.4 | |||
Year Ended |
||||||||
December 31, | ||||||||
2006 | 2005 | |||||||
Lease termination and bankruptcy settlements (1)
|
$ | 14.0 | $ | 5.1 | ||||
Acquisition and financing fees (2)
|
0.4 | 2.4 | ||||||
Other, net
|
0.5 | 1.0 | ||||||
$ | 14.9 | $ | 8.5 | |||||
(1) | For the year ended December 31, 2006, the Company executed lease terminations on four vacant Wal-Mart spaces in the Companys wholly-owned portfolio. | |
(2) | Primarily represents financing fees received in connection with DDR Macquarie Fund LLC, excluding the Companys retained ownership of approximately 14.5%. The Companys fees were earned in conjunction with the closing and amount of the financing transaction by the joint venture. |
2006 | 2005 | $ Change | % Change | |||||||||||||
Operating and maintenance
|
$ | 107,208 | $ | 91,916 | $ | 15,292 | 16.6 | % | ||||||||
Real estate taxes
|
89,895 | 79,344 | 10,551 | 13.3 | ||||||||||||
General and administrative
|
60,679 | 54,048 | 6,631 | 12.3 | ||||||||||||
Depreciation and amortization
|
182,007 | 153,605 | 28,402 | 18.5 | ||||||||||||
$ | 439,789 | $ | 378,913 | $ | 60,876 | 16.1 | % | |||||||||
101
Operating |
||||||||||||
and |
Real Estate |
|||||||||||
Maintenance | Taxes | Depreciation | ||||||||||
Core Portfolio Properties
|
$ | 4.2 | $ | 5.0 | $ | 5.1 | ||||||
Acquisition and development/redevelopment of shopping center
properties
|
11.6 | 6.8 | 20.7 | |||||||||
Consolidation of a joint venture asset (EITF
04-05)
|
0.5 | 0.7 | 1.0 | |||||||||
Transfer of properties to unconsolidated joint ventures in 2006
and 2005
|
(1.6 | ) | (2.4 | ) | (2.4 | ) | ||||||
Business center properties
|
0.1 | | 0.6 | |||||||||
Service Merchandise assets
|
1.2 | 0.5 | 1.3 | |||||||||
Provision for bad debt expense
|
(0.7 | ) | | | ||||||||
Personal property
|
| | 2.1 | |||||||||
$ | 15.3 | $ | 10.6 | $ | 28.4 | |||||||
2006 | 2005 | $ Change | % Change | |||||||||||||
Interest income
|
$ | 9,053 | $ | 10,004 | $ | (951 | ) | (9.5 | )% | |||||||
Interest expense
|
(208,512 | ) | (170,587 | ) | (37,925 | ) | 22.2 | |||||||||
Other expense, net
|
(446 | ) | (2,532 | ) | 2,086 | (82.4 | ) | |||||||||
$ | (199,905 | ) | $ | (163,115 | ) | $ | (36,790 | ) | 22.6 | % | ||||||
102
2006 | 2005 | $ Change | % Change | |||||||||||||
Equity in net income of joint ventures
|
$ | 30,337 | $ | 34,873 | $ | (4,536 | ) | (13.0 | )% | |||||||
Minority equity interests
|
(8,453 | ) | (7,881 | ) | (572 | ) | 7.3 | |||||||||
Income tax benefit (expense) of taxable REIT subsidiaries and
franchise taxes
|
2,497 | (276 | ) | 2,773 | (1,004.7 | ) |
Increase |
||||
(Decrease) | ||||
Reduction in gains from disposition transactions as compared to
2005
|
$ | (6.4 | ) | |
Disposition of joint venture interests to DDR
|
1.5 | |||
Adoption of EITF
04-05
|
(0.8 | ) | ||
Acquisition of assets by unconsolidated joint ventures
|
1.9 | |||
Debt refinancing and increased interest rates at various joint
ventures
|
(0.7 | ) | ||
$ | (4.5 | ) | ||
2006 Dispositions
|
2005 Dispositions
|
|
One 50% effectively owned shopping center
|
Three 20% owned shopping centers | |
Four 25.5% effectively owned shopping centers
|
One 24.75% effectively owned shopping center | |
One 20.75% effectively owned shopping center
|
Eight sites formerly occupied by Service Merchandise | |
Two sites formerly occupied by Service Merchandise
|
||
One 10% effectively owned shopping center
|
103
(Increase) |
||||
Decrease | ||||
Formation of the Mervyns Joint Venture consolidated investment
in September 2005, which is owned approximately 50% by the
Company
|
$ | (3.9 | ) | |
Conversion of 0.4 million operating partnership units into
common shares of the Company in 2006
|
1.0 | |||
Consolidation of a joint venture asset (EITF
04-05)
|
(0.7 | ) | ||
Net decrease in net income from consolidated joint venture
investments
|
3.0 | |||
$ | (0.6 | ) | ||
2006 | 2005 | $ Change | % Change | |||||||||||||
Income from discontinued operations
|
$ | 10,179 | $ | 15,039 | $ | (4,860 | ) | (32.3 | )% | |||||||
Gain on disposition of real estate, net of tax
|
11,051 | 16,667 | (5,616 | ) | (33.7 | ) | ||||||||||
$ | 21,230 | $ | 31,706 | $ | (10,476 | ) | (33.0 | )% | ||||||||
2006 | 2005 | $ Change | % Change | |||||||||||||
Gain on disposition of real estate
|
$ | 72,023 | $ | 88,140 | $ | (16,117 | ) | (18.3 | )% |
Year Ended |
||||||||
December 31, | ||||||||
2006 | 2005 | |||||||
Transfer of assets to DPG Realty Holdings LLC (1)(2)
|
$ | 0.6 | $ | | ||||
Transfer of assets to DDR Macquarie Fund LLC (1)(3)
|
9.2 | 81.2 | ||||||
Transfer of assets to DDR MDT PS LLC (1)(4)
|
38.9 | | ||||||
Transfer of assets to Service Holdings LLC (1)(5)
|
6.1 | | ||||||
Land sales (6)
|
14.8 | 6.0 | ||||||
Previously deferred gains and other gains and losses on
dispositions (7)
|
2.4 | 0.9 | ||||||
$ | 72.0 | $ | 88.1 | |||||
(1) | This disposition is not classified as discontinued operations due to the Companys continuing involvement through its retained ownership interest and management agreements. | |
(2) | The Company transferred a newly developed expansion area adjacent to a shopping center owned by the joint venture. | |
(3) | The Company transferred newly developed expansion areas adjacent to four shopping centers owned by the joint venture in 2006. The Company transferred 12 assets in 2005. | |
(4) | The Company transferred six recently developed assets. | |
(5) | The Company transferred 51 retail sites previously occupied by Service Merchandise. |
104
(6) | These dispositions did not meet the criteria for discontinued operations as the land did not have any significant operations prior to disposition. | |
(7) | These gains and losses are primarily attributable to the subsequent leasing of units related to master lease and other obligations originally established on disposed properties, which are no longer required. |
2006 | 2005 | $ Change | % Change | |||||||||||||
Net Income
|
$ | 253,264 | $ | 282,643 | $ | (29,379 | ) | (10.4 | )% | |||||||
Increase in net operating revenues (total revenues in excess of
operating and maintenance expenses and real estate taxes)
|
$ | 71.3 | ||
Increase in general and administrative expenses
|
(6.6 | ) | ||
Increase in depreciation expense
|
(28.4 | ) | ||
Decrease in interest income
|
(1.0 | ) | ||
Increase in interest expense
|
(37.9 | ) | ||
Change in other expense, net
|
2.1 | |||
Decrease in equity in net income of joint ventures
|
(4.5 | ) | ||
Increase in minority interest expense
|
(0.6 | ) | ||
Change in income tax benefit (expense)
|
2.8 | |||
Decrease in income from discontinued operations
|
(4.9 | ) | ||
Decrease in gain on disposition of real estate of discontinued
operations properties
|
(5.6 | ) | ||
Decrease in gain on disposition of real estate
|
(16.1 | ) | ||
Decrease in net income
|
$ | (29.4 | ) | |
105
For the Years Ended | ||||||||||||
2007 | 2006 | 2005 | ||||||||||
Net income applicable to common shareholders (1)
|
$ | 225,113 | $ | 198,095 | $ | 227,474 | ||||||
Depreciation and amortization of real estate investments
|
214,396 | 185,449 | 169,117 | |||||||||
Equity in net income of joint ventures
|
(43,229 | ) | (30,337 | ) | (34,873 | ) | ||||||
Joint ventures FFO (2)
|
84,423 | 44,473 | 49,302 | |||||||||
Minority equity interests (OP Units)
|
2,275 | 2,116 | 2,916 | |||||||||
Gain on disposition of depreciable real estate (3)
|
(17,956 | ) | (21,987 | ) | (58,834 | ) | ||||||
FFO applicable to common shareholders
|
465,022 | 377,809 | 355,102 | |||||||||
Preferred share dividends
|
50,934 | 55,169 | 55,169 | |||||||||
Total FFO
|
$ | 515,956 | $ | 432,978 | $ | 410,271 | ||||||
(1) | Includes straight-line rental revenues of approximately $12.1 million, $16.0 million and $14.4 million in 2007, 2006 and 2005, respectively (including discontinued operations). | |
(2) | Joint ventures FFO is summarized as follows (in thousands): |
For the Years Ended | ||||||||||||
2007 | 2006 | 2005 | ||||||||||
Net income (a)
|
$ | 169,195 | $ | 92,624 | $ | 122,586 | ||||||
Depreciation and amortization of real estate investments
|
193,437 | 83,017 | 87,508 | |||||||||
Gain on disposition of real estate, net (b)
|
(91,111 | ) | (22,013 | ) | (19,014 | ) | ||||||
$ | 271,521 | $ | 153,628 | $ | 191,080 | |||||||
DDR Ownership interests (c)
|
$ | 84,423 | $ | 44,473 | $ | 49,302 | ||||||
(a) | Includes straight-line rental revenue of $9.3 million, $5.1 million and $6.6 million in 2007, 2006 and 2005, respectively. The Companys proportionate share of straight-line rental revenues was $1.4 million, $0.9 million and $1.1 million in 2007, 2006 and 2005, respectively. These amounts include discontinued operations. |
106
(b) | The gain or loss on disposition of recently developed shopping centers, generally owned by the Companys taxable REIT subsidiaries, is included in FFO, as the Company considers these properties part of the merchant building program. These properties were either developed through the Retail Value Investment Program with Prudential Real Estate Investors, or were assets sold in conjunction with the formation of the joint venture that holds the designation rights for the Service Merchandise properties. For the year ended December 31, 2007, an aggregate gain of $5.8 million was recorded, of which $1.8 million was the Companys proportionate share. For the year ended December 31, 2006, a loss of $1.3 million was recorded, of which $0.3 million was the Companys proportionate share. For the year ended December 31, 2005, an aggregated gain of $30.8 million was recorded, of which $7.6 million was the Companys proportionate share. | |
(c) | The Companys share of joint venture net income has been reduced by $1.2 million, increased by $1.6 million and reduced by $2.1 million for the years ended December 31, 2007, 2006 and 2005, respectively. These amounts are related to basis differences in depreciation and adjustments to gain on sales. During the year ended December 31, 2007, the Company received $14.3 million of promoted income, of which $13.6 million related to the sale of assets from DDR Markaz LLC to DDR Domestic Retail Fund I, which is included in the Companys proportionate share of net income and FFO. During the year ended December 31, 2006, the Company received $5.5 million of promoted income from the disposition of a joint venture asset in Kildeer, Illinois. | |
At December 31, 2007, 2006 and 2005, the Company owned unconsolidated joint venture interests relating to 273, 117 and 110 operating shopping center properties, respectively. In addition, at December 31, 2007 and 2006, the Company owned 44 and 50 shopping center sites, respectively, formerly owned by Service Merchandise through its 20% owned joint venture. At December 31, 2005, the Company owned 53 of these sites through its approximate 25% owned joint venture. The Company also owned an approximate 25% interest in the Prudential Retail Value Fund and a 50% joint venture equity interest in two real estate management/development companies. |
(3) | The amount reflected as gain on disposition of real estate and real estate investments from continuing operations in the consolidated statement of operations includes residual land sales, which management considers to be the disposition of non-depreciable real property and the sale of newly developed shopping centers, for which the Company maintained continuing involvement. These dispositions are included in the Companys FFO and therefore are not reflected as an adjustment to FFO. For the years ended December 31, 2007, 2006 and 2005, net gains resulting from residual land sales aggregated $14.0 million, $14.8 million and $6.0 million, respectively. For the years ended December 31, 2007, 2006 and 2005, merchant building gains, net of tax, aggregated $49.1 million, $46.3 million and $39.9 million, respectively. In 2005, these gains included a portion of the net gain recognized of approximately $6.6 million from the sale of a shopping center located in Plainville, Connecticut, through the Companys taxable REIT subsidiary, associated with its merchant building program. The remaining $14.3 million of the gain recognized on the disposition of the shopping center located in Plainville, Connecticut, was not included in the computation of FFO, as the Company believed such amount was derived primarily from the acquisition of its partners approximate 75% interest in the shopping center following substantial completion of development. Additionally, during 2005, the Companys gain on disposition of real estate was reduced by $1.9 million relating to debt prepayment costs incurred as a result of a sales transaction. This debt prepayment has been accounted for as a cost of sale, and neither the gross gain on disposition nor the related costs of the sale have been included in FFO. |
107
108
Year Ended December 31, | ||||||||||||
2007 | 2006 | 2005 | ||||||||||
Cash flow provided by operating activities
|
$ | 414,616 | $ | 340,692 | $ | 355,423 | ||||||
Cash flow used for investing activities
|
(1,148,316 | ) | (203,047 | ) | (339,443 | ) | ||||||
Cash flow provided by (used for) financing activities
|
755,491 | (139,922 | ) | (35,196 | ) |
109
2007 | 2006 | 2005 | ||||||||||
Company (including Consolidated Joint Ventures):
|
||||||||||||
Acquisitions
|
$ | 3,048.7 | (1) | $ | 370.2 | (8) | $ | 1,610.8 | (13) | |||
Completed expansions
|
32.7 | 73.1 | 41.6 | |||||||||
Developments and construction in progress
|
428.5 | 246.0 | 246.1 | |||||||||
Tenant improvements and building renovations (2)
|
12.5 | 11.7 | 7.5 | |||||||||
Furniture and fixtures and equipment
|
13.0 | (3) | 10.2 | (3) | 10.7 | (3) | ||||||
3,535.4 | 711.2 | 1,916.7 | ||||||||||
Less: Real estate dispositions and property contributed to joint
ventures
|
(2,001.3 | )(4) | (289.8 | )(9) | (490.8 | )(14) | ||||||
Company total
|
1,534.1 | 421.4 | 1,425.9 | |||||||||
Unconsolidated Joint Ventures:
|
||||||||||||
Acquisitions/contributions
|
4,987.4 | (5) | 729.9 | (10) | 350.0 | (15) | ||||||
Completed expansions
|
21.9 | | 9.3 | |||||||||
Developments and construction in progress
|
142.7 | 139.6 | (11) | 87.5 | ||||||||
Tenant improvements and building renovations (2)
|
9.8 | 9.1 | 6.8 | |||||||||
Foreign currency adjustments
|
48.5 | (6) | | | ||||||||
5,210.3 | 878.6 | 453.6 | ||||||||||
Less: Real estate dispositions
|
(204.3 | )(7) | (409.0 | )(12) | (148.8 | )(16) | ||||||
Joint ventures total
|
5,006.0 | 469.6 | 304.8 | |||||||||
6,540.1 | 891.0 | 1,730.7 | ||||||||||
Less: Proportionate joint venture share owned by others
|
(2,825.5 | ) | (401.0 | ) | (285.0 | ) | ||||||
Total DDR net additions
|
$ | 3,714.6 | $ | 490.0 | $ | 1,445.7 | ||||||
(1) | Includes the merger with IRRETI, the redemption of OP Units and the acquisition of an additional interest in a property in San Francisco, California. | |
(2) | In 2008, the Company anticipates recurring capital expenditures, including tenant improvements, of approximately $14 million associated with its wholly-owned and consolidated portfolio and $11 million associated with its unconsolidated joint venture portfolio. | |
(3) | Includes certain Information Technology (IT) projects, expansion of the Companys headquarters and fractional ownership interests in corporate planes. | |
(4) | Includes the sale of three assets to Dividend Capital Total Realty Trust Joint Venture, 56 assets to DDR Domestic Retail Fund I, three assets to DDR Macquarie Fund LLC and other shopping center assets and outparcel sales. | |
(5) | Includes the formation of the DDRTC Core Retail Fund LLC joint venture, acquisition of an additional 73% interest in Metropole Shopping Center by Sonae Sierra Brazil BV Sarl. | |
(6) | Relates to the Companys approximate 50% owned joint venture in Brazil and the strengthening of the Brazilian Reals in relation to the U.S. dollar in 2007. | |
(7) | Includes the sale of seven shopping centers previously owned by DDR Markaz LLC to DDR Domestic Retail Fund I and the sale of vacant land. | |
(8) | Includes the transfer to the Company from joint ventures (KLA/SM and Salisbury, Maryland), final earnout adjustments for acquisitions, redemption of OP Units and the consolidation of a joint venture asset pursuant to EITF 04-05, |
110
Determining whether a General Partner, or the General Partners as a Group Controls a Limited Partnership or Similar Entity When the Limited Partners Have Certain Rights. | ||
(9) | Includes asset dispositions, the sale of assets formerly owned by the KLA/SM Joint Venture to Service Holdings LLC, the sale of properties to DDR Macquarie Fund LLC and DDR MDT PS LLC, plus the transfer of newly developed expansion areas adjacent to four shopping centers and the sale of several outparcels. | |
(10) | Reflects the DPG Realty Holdings LLC acquisition and adjustments to accounting presentation from previous acquisitions. | |
(11) | Includes the acquisition of land in Allen, Texas, and Bloomfield Hills, Michigan, for the development of shopping centers by the Coventry II Fund. | |
(12) | Includes asset dispositions, the transfer to DDR of the KLA/SM Joint Venture assets, five assets located in Phoenix, Arizona (two properties); Pasadena, California; Salisbury, Maryland and Apex, North Carolina. | |
(13) | Includes the transfer to DDR from a joint venture of a shopping center in Dublin, Ohio, and the acquisition of the Caribbean Property Group and the Mervyns portfolios. | |
(14) | Includes the transfer of 12 assets to DDR Macquarie Fund LLC, asset dispositions and the disposition of several outparcels. | |
(15) | Reflects DDR Macquarie Fund LLC acquisition and adjustments to GAAP presentation from previous acquisitions. | |
(16) | Includes asset dispositions, the disposition of several outparcels by the RVIP VII joint venture and the transfer to DDR from a joint venture of a shopping center in Dublin, Ohio. |
111
Gross |
||||||||
Company-Owned |
Purchase |
|||||||
Square Feet |
Price |
|||||||
Location
|
(Thousands) | (Millions) | ||||||
IRRETI merger
(see 2007 Strategic Real Estate Transactions) |
17,273 | $ | 3,054.4 | |||||
Coventry I (1)
|
| 13.8 | ||||||
San Antonio, Texas (2)
|
207 | 16.9 | ||||||
17,480 | $ | 3,085.1 | ||||||
(1) | Reflects the Companys purchase price associated with the acquisition of its partners approximate 25% ownership interest. |
112
(2) | The Company purchased a 50% equity interest through its investment in this joint venture. This asset is consolidated into the Company in accordance with FIN 46. |
Gross |
||||||||
Company-Owned |
Purchase |
|||||||
Square Feet |
Price |
|||||||
Location
|
(Thousands) | (Millions) | ||||||
DDR SAU Retail Fund LLC (1)
|
2,277 | $ | 30.4 | |||||
DDRTC Core Retail Fund LLC (2)
|
15,638 | 2,998.6 | ||||||
Homestead, Pennsylvania (3)
|
99 | 5.4 | ||||||
Lyndhurst, New Jersey (4)
|
78 | 20.9 | ||||||
Sao Bernardo Do Campo, Brazil (5)
|
| 24.6 | ||||||
18,092 | $ | 3,079.9 | ||||||
(1) | The Company acquired a 20% equity interest in this joint venture, consisting of 28 properties in nine states. The Companys equity interest in these properties was acquired as part of the IRRETI merger (see 2007 Strategic Real Estate Transactions). | |
(2) | The Company purchased a 15% equity interest in this joint venture, consisting of 66 properties in 14 states. This investment was acquired as part of the IRRETI merger (see 2007 Strategic Real Estate Transactions). | |
(3) | The DDRTC Core Retail Fund LLC joint venture acquired one shopping center asset. | |
(4) | The DDR SAU Retail Fund LLC joint venture acquired one shopping center asset. | |
(5) | Reflects the Companys purchase price associated with the acquisition of its partners 73% ownership interest. |
Expected |
||||||||||
Owned |
Net Cost |
|||||||||
Location
|
GLA | (Millions) | Description | |||||||
Ukiah (Mendocino), California **
|
409,900 | $ | 101.4 | Community Center | ||||||
Miami (Homestead), Florida
|
275,839 | 74.9 | Community Center | |||||||
Miami, Florida
|
400,685 | 142.6 | Mixed Use | |||||||
Tampa (Brandon), Florida
|
241,700 | 55.5 | Community Center | |||||||
Tampa (Wesley Chapel), Florida
|
73,360 | 13.7 | Community Center | |||||||
Boise (Nampa), Idaho
|
450,855 | 123.1 | Community Center | |||||||
Boston, Massachusetts (Seabrook, New Hampshire)
|
210,180 | 50.1 | Community Center | |||||||
Elmira (Horseheads), New York
|
350,987 | 53.0 | Community Center | |||||||
Raleigh (Apex), North Carolina (Promenade)
|
81,780 | 17.9 | Community Center | |||||||
Raleigh (Apex), North Carolina
(Beaver Creek Crossing, Phase II) |
162,270 | 50.8 | Community Center | |||||||
Austin (Kyle), Texas **
|
325,005 | 60.0 | Community Center | |||||||
Total
|
2,982,561 | $ | 743.0 | |||||||
** | Consolidated 50% Joint Venture |
113
Funded as of December 31, 2007
|
$ | 538.4 | ||
Projected net funding during 2008
|
128.7 | |||
Projected net funding thereafter
|
227.1 | |||
Total
|
$ | 894.2 | ||
DDRs |
||||||||||||||||
Joint |
Effective |
Expected |
||||||||||||||
Venture |
Ownership |
Owned |
Net Cost |
|||||||||||||
Location
|
Partner | Percentage | GLA | (Millions) | Description | |||||||||||
Kansas City (Merriam), Kansas
|
Coventry II | 20.0 | % | 202,116 | $ | 46.8 | Community Center | |||||||||
Detroit (Bloomfield Hills), Michigan
|
Coventry II | 10.0 | % | 882,197 | 192.5 | Lifestyle Center | ||||||||||
Dallas (Allen), Texas
|
Coventry II | 10.0 | % | 797,665 | 171.2 | Lifestyle Center | ||||||||||
Manaus, Brazil
|
Sonae Sierra | 47.4 | % | 477,630 | 82.6 | Enclosed Mall | ||||||||||
Total
|
2,359,608 | $ | 493.1 | |||||||||||||
Anticipated |
||||||||||||||||
DDRs |
JV Partners |
Proceeds from |
||||||||||||||
Proportionate |
Proportionate |
Construction |
||||||||||||||
Share | Share | Loans | Total | |||||||||||||
Funded as of December 31, 2007
|
$ | 33.0 | $ | 91.5 | $ | 111.5 | $ | 236.0 | ||||||||
Projected net funding during 2008
|
25.8 | 42.9 | 125.9 | 194.6 | ||||||||||||
Projected net funding thereafter
|
3.9 | 4.1 | 54.5 | 62.5 | ||||||||||||
Total
|
$ | 62.7 | $ | 138.5 | $ | 291.9 | $ | 493.1 | ||||||||
Property
|
Description
|
|
Miami (Plantation), Florida
|
Redevelop shopping center to include Kohls and additional junior tenants | |
Chesterfield, Michigan
|
Construct 25,400 sf of small shop space and retail space | |
Olean, New York
|
Wal-Mart expansion and tenant relocation | |
Fayetteville, North Carolina
|
Redevelop 18,000 sf of small shop space and construct an outparcel building | |
Akron (Stow), Ohio
|
Redevelop former K-Mart space and develop new outparcels | |
Dayton (Huber Heights), Ohio
|
Construct 45,000 sf of junior tenants |
114
DDRs |
||||||||
Joint |
Effective |
|||||||
Venture |
Ownership |
|||||||
Property
|
Partner | Percentage | Description | |||||
Buena Park, California
|
Coventry II | 20.0 | % | Large-scale redevelopment of enclosed mall to open-air format | ||||
Los Angeles (Lancaster),
California |
Prudential Real Estate Investors | 21.0 | % | Relocate Wal-Mart and redevelop former Wal-Mart space | ||||
Chicago (Deer Park),
Illinois |
Prudential Real Estate Investors | 25.75 | % | Re-tenant former retail shop space with junior tenants and construct 13,500 sf multi-tenant outparcel building | ||||
Benton Harbor,
Michigan |
Coventry II | 20.0 | % | Construct 89,000 sf of anchor space and retail shops | ||||
Kansas City, Missouri
|
Coventry II | 20.0 | % | Relocate retail shops and re-tenant former retail shop space | ||||
Cincinnati, Ohio
|
Coventry II/Thor Equities | 18.0 | % | Redevelop former JCPenney space |
Company-Owned |
||||||||||||
Square Feet |
Sales Price |
Net Gain |
||||||||||
Location
|
(Thousands) | (Millions) | (Millions) | |||||||||
Core Portfolio Properties (1)
|
6,301 | $ | 589.4 | $ | 12.3 | |||||||
Transfer to Joint Venture Interests
|
||||||||||||
DDR Domestic Retail Fund I (2)
|
8,342 | 1,201.3 | 1.8 | |||||||||
Dividend Capital Total Realty Trust Joint Venture (3)
|
682 | 161.5 | 50.3 | |||||||||
DDR Macquarie Fund LLC (4)
|
515 | 49.8 | | |||||||||
15,840 | $ | 2,002.0 | $ | 64.4 | ||||||||
(1) | The Company sold 67 shopping center properties in various states. | |
(2) | The Company contributed 54 assets acquired through the acquisition of IRRETI and two assets from the Companys wholly-owned portfolio to the joint venture. The Company retained a 20% effective interest in these assets. The amount includes 100% of the selling price; the Company eliminated the portion of the gain associated with its 20% ownership interest (see 2007 Strategic Real Estate Transactions). | |
(3) | The Company contributed three wholly-owned assets to the joint venture. The Company retained an effective 10% ownership interest in these assets. The amount includes 100% of the selling price; the Company eliminated the portion of the gain associated with its 10% ownership interest (see 2007 Strategic Real Estate Transactions). |
115
(4) | The Company contributed three wholly-owned assets to the joint venture. The Company retained an effective 14.5% ownership interest in these assets. The amount includes 100% of the selling price. The Company did not record a gain on the contribution of these assets, as they had been recently acquired through the merger with IRRETI. |
Companys |
||||||||||||||||
Companys |
Proportionate |
|||||||||||||||
Effective |
Company-Owned |
Share of |
||||||||||||||
Ownership |
Square Feet |
Sales Price |
Gain |
|||||||||||||
Location
|
Percentage | (Thousands) | (Millions) | (Millions) | ||||||||||||
Overland Park, Kansas
|
25.50 | % | 61.0 | $ | 8.2 | $ | 0.3 | |||||||||
Service Merchandise (6 sites)
|
20.00 | % | 356.4 | 27.2 | 1.3 | |||||||||||
417.4 | $ | 35.4 | $ | 1.6 | ||||||||||||
116
Company- |
Gross |
|||||||
Owned |
Purchase |
|||||||
Square Feet |
Price |
|||||||
Location
|
(Thousands) | (Millions) | ||||||
Phoenix, Arizona (1)
|
197 | $ | 15.6 | |||||
Pasadena, California (2)
|
557 | 55.9 | ||||||
Valencia, California (3)
|
76 | 12.4 | ||||||
Salisbury, Maryland (1)
|
126 | 1.5 | ||||||
Apex, North Carolina (4)
|
324 | 4.4 | ||||||
San Antonio, Texas (5)
|
Under Development | 22.4 | ||||||
1,280 | $ | 112.2 | ||||||
(1) | Reflects the Companys purchase price, net of debt assumed, associated with the acquisition of its partners 50% ownership interest. | |
(2) | Reflects the Companys purchase price, net of prepayment of debt, associated with the acquisition of its partners 75% ownership interest. | |
(3) | Mervyns asset structured as a financing lease. | |
(4) | Reflects the Companys purchase price associated with the acquisition of its partners 80% and 20% ownership interests in two separate phases, respectively. | |
(5) | Reflects the Companys purchase price associated with the acquisition of its partners 50% ownership interest. |
117
Company- |
Gross |
|||||||
Owned |
Purchase |
|||||||
Square Feet |
Price |
|||||||
Location
|
(Thousands) | (Millions) | ||||||
San Diego, California (1)
|
74 | $ | 11.0 | |||||
Orland Park, Illinois (2)
|
58 | 12.2 | ||||||
Benton Harbor, Michigan (3)
|
223 | 27.1 | ||||||
Bloomfield Hills, Michigan (2)
|
Under Development | 68.4 | ||||||
Cincinnati, Ohio (4)
|
668 | 194.4 | ||||||
Allen, Texas (2)
|
Under Development | 10.9 | ||||||
Sonae Sierra Brazil BV Sarl (5)
|
3,469 | 180.3 | ||||||
4,492 | $ | 504.3 | ||||||
(1) | The Company purchased a 50% equity interest through its investment in the Mervyns Joint Venture. | |
(2) | The Company purchased a 10% equity interest through its investment in the Coventry II Fund. | |
(3) | The Company purchased a 20% equity interest through its investment in the Coventry II Fund. There is approximately 100,000 sq. ft. under redevelopment. | |
(4) | The Company purchased an 18% equity interest through its investment in the Coventry II Fund. There is approximately 160,000 sq. ft. under redevelopment. | |
(5) | The Company purchased an initial 50% interest in an entity which owned a 93% interest in nine properties located in Sao Paulo, Brazil. |
Company-Owned |
||||||||||||
Square Feet |
Sales Price |
Net Gain |
||||||||||
Location
|
(Thousands) | (Millions) | (Millions) | |||||||||
Core Portfolio Properties (1)
|
822 | $ | 54.8 | $ | 11.1 | |||||||
Transfer to Joint Venture Interests
|
||||||||||||
DDR Macquarie Fund LLC (2)
|
1,024 | 24.7 | 9.2 | |||||||||
DDR MDT PS LLC (3)
|
644 | 122.7 | 38.9 | |||||||||
2,490 | $ | 202.2 | $ | 59.2 | ||||||||
(1) | The Company sold six shopping center properties located in three states. | |
(2) | The Company contributed four newly developed expansion areas adjacent to shopping centers currently owned by DDR Macquarie Fund LLC. The Company retained a 14.5% effective interest in these assets. The amount includes 100% of the selling price; the Company eliminated the portion of the gain associated with its 14.5% ownership interest (see 2006 Strategic Real Estate Transactions). |
118
(3) | The Company contributed six wholly-owned assets to the joint venture. The Company did not retain an ownership interest in the joint venture, but maintained a promoted interest. The amount includes 100% of the selling price (see 2006 Strategic Real Estate Transactions). |
Companys |
||||||||||||||||
Companys |
Proportionate |
|||||||||||||||
Effective |
Company-Owned |
Share of |
||||||||||||||
Ownership |
Square Feet |
Sales Price |
Gain (loss) |
|||||||||||||
Location
|
Percentage | (Thousands) | (Millions) | (Millions) | ||||||||||||
Olathe, Kansas; Shawnee, Kansas and Kansas City, Missouri
|
25.50 | % | 432 | $ | 20.0 | $ | (0.5 | ) | ||||||||
Fort Worth, Texas
|
50.00 | % | 235 | 22.0 | 0.2 | |||||||||||
Everett, Washington
|
20.75 | % | 41 | 8.1 | 1.2 | |||||||||||
Kildeer, Illinois
|
10.00 | % | 162 | 47.3 | 7.3 | (1) | ||||||||||
Service Merchandise Site
|
24.63 | % | 52 | 3.2 | | |||||||||||
Service Merchandise Site
|
20.00 | % | | 1.4 | | |||||||||||
922 | $ | 102.0 | $ | 8.2 | ||||||||||||
(1) | Includes promoted income. |
119
Company-Owned |
Gross Purchase |
|||||||
Square Feet |
Price |
|||||||
Location
|
(Thousands) | (Millions) | ||||||
CPG (see 2005 Strategic Real Estate Transactions)
|
3,967 | $ | 1,173.8 | |||||
Mervyns (see 2005 Strategic Real Estate Transactions) (1)
|
2,823 | 410.6 | ||||||
Columbus, Ohio (2)
|
162 | 3.2 | ||||||
6,952 | $ | 1,587.6 | ||||||
(1) | Includes 36 assets consolidated by the Company and one wholly-owned asset of the Company. | |
(2) | Reflects the Companys purchase price, associated with the acquisition of its partners 20% ownership interest. |
120
Company-Owned |
||||||||||||
Square Feet |
Sales Price |
Net Gain |
||||||||||
Location
|
(Thousands) | (Millions) | (Millions) | |||||||||
Shopping Center Properties
|
||||||||||||
Core Portfolio Properties (1)
|
637 | $ | 35.7 | $ | 10.7 | |||||||
Transfer to Joint Venture Interests
|
||||||||||||
DDR Macquarie Fund LLC (2)
|
2,097 | 348.0 | 81.2 | |||||||||
Business Center Properties (3)
|
3,183 | 177.0 | 5.3 | |||||||||
5,917 | $ | 560.7 | $ | 97.2 | ||||||||
(1) | The Company sold ten shopping center properties located in six states. One of the properties sold, Grand Forks, North Dakota, represented the disposition of an asset through the merchant building program. | |
(2) | The Company transferred 12 wholly-owned assets of the Company to the joint venture. The Company retained an effective 14.5% equity ownership interest in the joint venture. The amount includes 100% of the selling price; the Company eliminated the portion of the gain associated with its 14.5% ownership interest (see 2005 Strategic Real Estate Transactions). | |
(3) | Represents the disposition of 25 assets (see 2005 Strategic Real Estate Transactions). |
Companys |
Companys |
|||||||||||||||
Effective |
Company-Owned |
Proportionate |
||||||||||||||
Ownership |
Square Feet |
Sale Price |
Share of Gain |
|||||||||||||
Location
|
Percentage | (Thousands) | (Millions) | (Millions) | ||||||||||||
City of Industry, California (1); Richmond, California and
San Ysidro, California
|
20.75 | % | 416 | $ | 73.3 | $ | 6.7 | |||||||||
Long Beach, California (1)
|
25.50 | % | 343 | 75.6 | 4.4 | |||||||||||
Service Merchandise (8 sites)
|
24.63 | % | 409 | 19.4 | 1.9 | |||||||||||
1,168 | $ | 168.3 | $ | 13.0 | ||||||||||||
(1) | The joint venture sold the remaining portion of the shopping center. |
121
Effective |
Company-Owned |
|||||||||||||
Unconsolidated |
Ownership |
Square Feet |
Total Debt |
|||||||||||
Real Estate Ventures
|
Percentage (1) | Assets Owned | (Thousands) | (Millions) | ||||||||||
Sonae Sierra Brazil BV Sarl
|
47.4 | % | Nine shopping centers, one shopping center under development and a management company in Brazil | 3,483 | $ | | ||||||||
DDR Domestic Retail Fund I
|
20.0 | 63 shopping center assets in several states | 8,342 | 968.5 | ||||||||||
DDR SAU Retail Fund LLC
|
20.0 | 29 shopping center assets in several states | 2,355 | 226.2 | ||||||||||
DDRTC Core Retail Fund LLC
|
15.0 | 66 assets in several states | 15,737 | 1,773.1 | ||||||||||
DDR Macquarie Fund LLC
|
14.5 | 51 shopping centers in several states | 12,171 | 1,112.0 | ||||||||||
TRT DDR Venture I GP
|
10.0 | Three shopping centers in several states | 682 | 110.0 |
(1) | Ownership may be held through different investment structures. Percentage ownerships are subject to change as certain investments contain promoted structures. |
122
2007 | 2006 | 2005 | ||||||||||
Equity:
|
||||||||||||
Common shares
|
$ | 1,140.8 | (1) | $ | | $ | | |||||
Preferred OP Units
|
484.2 | (2) | | | ||||||||
Total equity
|
1,625.0 | | | |||||||||
Debt:
|
||||||||||||
Construction
|
104.3 | 11.1 | 14.6 | |||||||||
Permanent financing
|
30.0 | | 327.1 | |||||||||
Mortgage debt assumed
|
446.5 | 132.3 | 661.5 | |||||||||
Medium term notes
|
| | 750.0 | (7) | ||||||||
Convertible notes
|
600.0 | (3) | 250.0 | (6) | | |||||||
Unsecured term loan
|
750.0 | (4) | | | ||||||||
Secured term loan
|
400.0 | (5) | 180.0 | (5) | 220.0 | (5) | ||||||
Total debt
|
2,330.8 | 573.4 | 1,973.2 | |||||||||
$ | 3,955.8 | $ | 573.4 | $ | 1,973.2 | |||||||
(1) | Approximately 5.7 million shares, aggregating approximately $394.2 million, were issued to IRRETI shareholders in February 2007. The Company issued 11.6 million common shares in February 2007 for approximately $746.6 million upon the settlement of the forward sale agreements entered into in December 2006. | |
(2) | Issuance of 20 million preferred OP Units with a liquidation preference of $25 per unit, aggregating $500 million of the net assets of the Companys consolidated subsidiary in February 2007. In accordance with the terms of the agreement, the preferred OP Units were redeemed at 97.0% of par in June 2007. |
123
(3) | Issuance of 3.00% convertible senior unsecured notes due 2012. The notes have an initial conversion rate of approximately 13.3783 common shares per $1,000 principal amount of the notes, which represents an initial conversion price of approximately $74.75 per common share and a conversion premium of approximately 20.0% based on the last reported sale price of $62.29 per common share on March 7, 2007. The initial conversion rate is subject to adjustment under certain circumstances. Upon closing of the sale of the notes, the Company repurchased $117.0 million of its common shares. In connection with the offering, the Company entered into an option agreement, settled in the Companys common shares, with an investment bank that had the economic impact of effectively increasing the initial conversion price of the notes to $87.21 per common share, which represents a 40% premium based on the March 7, 2007, closing price of $62.29 per common share. The cost of this arrangement was approximately $32.6 million and has been recorded as an equity transaction in the Companys consolidated balance sheet. | |
(4) | This facility bore interest at LIBOR plus 0.75% and was repaid in June 2007. | |
(5) | This facility bears interest at LIBOR plus 0.70% and matures in February 2011. This facility allows for a one-year extension option. | |
(6) | Issuance of 3.50% convertible senior unsecured notes due 2011. The notes have an initial conversion rate of approximately 15.3589 common shares per $1,000 principal amount of the notes, which represents an initial conversion price of approximately $65.11 per common share and a conversion premium of approximately 22.5% based on the last reported sale price of $53.15 per common share on August 22, 2006. The initial conversion rate is subject to adjustment under certain circumstances. Upon closing of the sale of the notes, the Company repurchased $48.3 million of its common shares. In connection with the offering, the Company entered into an option arrangement, settled in the Companys common shares, with an investment bank that had the economic impact of effectively increasing the initial conversion price of the notes to $74.41 per common share, which represents a 40.0% premium based on the August 22, 2006, closing price of $53.15 per common share. The cost of this arrangement was approximately $10.3 million and has been recorded as an equity transaction in the Companys consolidated balance sheet. | |
(7) | Includes $200 million of five-year senior unsecured notes and $200 million of ten-year senior unsecured notes. The five-year notes have an interest coupon rate of 5.0%, are due on May 3, 2010, and were offered at 99.806% of par. The ten-year notes have an interest coupon rate of 5.5%, are due on May 1, 2015, and were offered at 99.642% of par. Also includes $350 million of seven-year senior unsecured notes. The seven-year notes have an interest coupon rate of 5.375%, are due on October 15, 2012, and were offered at 99.52% of par. |
124
Operating |
Capital |
|||||||||||
Year
|
Debt | Leases | Leases | |||||||||
2008
|
$ | 389,643 | $ | 5,446 | $ | 315 | ||||||
2009
|
426,091 | 5,179 | 315 | |||||||||
2010
|
1,592,060 | 4,697 | 315 | |||||||||
2011
|
1,502,282 | 4,602 | 315 | |||||||||
2012
|
1,064,800 | 4,133 | 350 | |||||||||
Thereafter
|
616,138 | 149,378 | 11,933 | |||||||||
$ | 5,591,014 | $ | 173,435 | $ | 13,543 | |||||||
125
DDR Macquarie Fund LLC
|
$ | 0.1 | ||
DDR Markaz II
|
0.2 | |||
DDR MDT PS LLC
|
1.1 | |||
Dividend Capital Total Realty Trust Joint Venture
|
1.0 | |||
$ | 2.4 | |||
126
127
128
129
ITEM 7A. | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK |
December 31, 2007 | December 31, 2006 | |||||||||||||||||||||||||||||||
Weighted |
Weighted |
Weighted |
Weighted |
|||||||||||||||||||||||||||||
Average |
Average |
Average |
Average |
|||||||||||||||||||||||||||||
Amount |
Maturity |
Interest |
Percentage |
Amount |
Maturity |
Interest |
Percentage |
|||||||||||||||||||||||||
(Millions) | (Years) | Rate | of Total | (Millions) | (Years) | Rate | of Total | |||||||||||||||||||||||||
Fixed-Rate Debt (1)
|
$ | 4,533.1 | 3.9 | 5.1 | % | 81.1 | % | $ | 3,799.0 | 4.8 | 5.6 | % | 89.4 | % | ||||||||||||||||||
Variable-Rate Debt (1)
|
$ | 1,057.9 | 4.1 | 5.3 | % | 18.9 | % | $ | 449.8 | 1.9 | 6.2 | % | 10.6 | % |
(1) | Adjusted to reflect the $600 million and $500 million of variable-rate debt that LIBOR was swapped to a fixed-rate of 5.0% at December 31, 2007 and 2006, and $60 million of fixed-rate debt that was swapped to a variable rate of 5.2% at December 31, 2006. |
December 31, 2007 | December 31, 2006 | |||||||||||||||||||||||||||||||
Joint |
Weighted |
Weighted |
Joint |
Weighted |
Weighted |
|||||||||||||||||||||||||||
Venture |
Companys |
Average |
Average |
Venture |
Companys |
Average |
Average |
|||||||||||||||||||||||||
Debt |
Proportionate |
Maturity |
Interest |
Debt |
Proportionate |
Maturity |
Interest |
|||||||||||||||||||||||||
(Millions) | Share | (Years) | Rate | (Millions) | Share | (Years) | Rate | |||||||||||||||||||||||||
Fixed-Rate Debt
|
$ | 4,516.4 | $ | 860.5 | 5.9 | 5.3 | % | $ | 1,745.0 | $ | 393.3 | 4.4 | 5.1 | % | ||||||||||||||||||
Variable-Rate Debt
|
$ | 1,035.4 | $ | 173.6 | 1.5 | 5.5 | % | $ | 750.1 | $ | 132.3 | 1.4 | 6.5 | % |
130
December 31, 2007 and 2006 | ||||||
Notional Amount
|
Fixed-rate | |||||
$ | 70.0 | 5.79% | ||||
$ | 75.0 | 4.90% | ||||
$ | 75.0 | 5.22% | ||||
$ | 100.0 | 5.47% | ||||
$ | 157.3 | 5.25% | ||||
$ | 80.0 | 5.09% |
December 31, 2007 | December 31, 2006 | |||||||||||||||||||||||
100 Basis |
100 Basis |
|||||||||||||||||||||||
Point |
Point |
|||||||||||||||||||||||
Decrease in |
Decrease in |
|||||||||||||||||||||||
Market |
Market |
|||||||||||||||||||||||
Carrying |
Fair |
Interest |
Carrying |
Fair |
Interest |
|||||||||||||||||||
Value |
Value |
Rates |
Value |
Value |
Rates |
|||||||||||||||||||
(Millions) | (Millions) | (Millions) | (Millions) | (Millions) | (Millions) | |||||||||||||||||||
Companys fixed-rate debt
|
$ | 4,533.1 | $ | 4,421.0 | (1) | $ | 4,525.0 | (2) | $ | 3,799.0 | $ | 3,817.7 | (1) | $ | 3,946.0 | (2) | ||||||||
Companys proportionate share of joint venture fixed-rate
debt
|
$ | 860.5 | $ | 880.1 | (3) | $ | 927.0 | (4) | $ | 393.3 | $ | 391.0 | (3) | $ | 409.4 | (4) |
(1) | Includes the fair value of interest rate swaps, which was a liability of $17.8 million and $1.1 million at December 31, 2007 and 2006, respectively. | |
(2) | Includes the fair value of interest rate swaps, which was a liability of $32.0 million and $15.4 million at December 31, 2007 and 2006, respectively. |
131
(3) | Includes the Companys proportionate share of the fair value of interest rate swaps that was a liability of $3.0 million and $0.7 million at December 31, 2007 and 2006, respectively. | |
(4) | Includes the Companys proportionate share of the fair value of interest rate swaps that was a liability of $7.5 million and $4.8 million at December 31, 2007 and 2006, respectively. |
December 31, | ||||||||
2007 | 2006 | |||||||
Total notes receivable
|
$ | 16.9 | $ | 28.4 | ||||
% Fixed rate-loans
|
29.4 | % | 55.8 | % | ||||
Fair value of fixed-rate loans
|
$ | 5.0 | $ | 16.5 | ||||
Impact on fair value of 100 basis point decrease in market
interest rates
|
$ | 5.0 | $ | 17.2 |
Item 8. | FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA |
Item 9. | CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE |
Item 9A. | CONTROLS AND PROCEDURES |
132
Item 9B. | OTHER INFORMATION |
133
Item 10. | DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE |
| Corporate Governance Guidelines that guide the Board of Directors in the performance of its responsibilities to serve the best interests of the Company and its shareholders; | |
| Written charters of the Audit Committee, Executive Compensation Committee and Nominating and Corporate Governance Committee; | |
| Code of Ethics for Senior Financial Officers that applies to the chief executive officer, chief financial officer, chief accounting officer, controllers, treasurer and chief internal auditor, if any, of the Company and | |
| Code of Business Conduct and Ethics that governs the actions and working relationships of the Companys employees, officers and directors with current and potential customers, consumers, fellow employees, competitors, government and self-regulatory agencies, investors, the public, the media and anyone else with whom the Company has or may have contact. |
Item 11. | EXECUTIVE COMPENSATION |
Item 12. | SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT |
134
Number of Securities |
||||||||||||
Remaining Available for |
||||||||||||
Number of Securities |
Future Issuance Under |
|||||||||||
to Be Issued upon |
Weighted-Average |
Equity Compensation |
||||||||||
Exercise of |
Exercise Price of |
Plans (excluding |
||||||||||
Outstanding Options, |
Outstanding Options, |
securities reflected |
||||||||||
Plan category
|
Warrants and Rights | Warrants and Rights | in column (a)) | |||||||||
(a) | (b) | (c) | ||||||||||
Equity compensation plans approved by security holders (1)
|
1,652,631 | (2) | $ | 44.00 | 1,723,369 | |||||||
Equity compensation plans not approved by security
holders (3)
|
41,666 | $ | 18.41 | N/A | ||||||||
Total
|
1,694,297 | $ | 43.37 | 1,723,369 |
(1) | Includes information related to the Companys 1992 Employees Share Option Plan, 1996 Equity Based Award Plan, 1998 Equity Based Award Plan, 2002 Equity Based Award Plan and 2004 Equity Based Award Plan. Does not include 184,220 shares reserved for issuance under outperformance unit agreements. | |
(2) | Does not include 667,686 shares of restricted stock, as these shares have been reflected in the Companys total shares outstanding. | |
(3) | Represents options issued to directors of the Company. The options granted to the directors were at the fair market value at the date of grant and vested over a three-year period. |
Item 13. | CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE |
Item 14. | PRINCIPAL ACCOUNTING FEES AND SERVICES |
Item 15. | EXHIBITS, FINANCIAL STATEMENT SCHEDULES |
a.) 1. | Financial Statements |
135
2. | Financial Statement Schedules |
b) | Exhibits The following exhibits are filed as part of or incorporated by reference into, this report: |
Exhibit No. |
Form 10-K |
Filed Herewith or |
||||||||
Under Reg.S-K |
Exhibit |
Incorporated Herein by |
||||||||
Item 601
|
No. |
Description
|
Reference
|
|||||||
2 | 2 | .1 | Agreement and Plan of Merger dated as of October 20, 2006 by and among the Company, Inland Retail Real Estate Trust, Inc., and DDR IRR Acquisition LLC | Current Report on Form 8-K (Filed October 23, 2006) | ||||||
2 | 2 | .2 | Purchase and Sale Agreement between MPR Del Norte LP, S.E., MPR Vega Baja LP, S.E., MPR Fajarado LP, S.E., MPR Del Oeste LP, S.E. and MPR Guyama LP, S.E. and the Company dated November 2, 2004 | Current Report on Form 8-K (Filed with the SEC on November 5, 2004) | ||||||
2 | 2 | .3 | Purchase and Sale Agreement between CRV Rio Hondo LP, LLLP, CRV Del Atlantico LP, LLLP, CRV Rexville LP, LLLP, CRV Senorial LP, LLLP and CRV Hamilton Land Acquisition LP, LLLP and the Company dated November 2, 2004 | Current Report on Form 8-K (Filed with the SEC on November 5, 2004) | ||||||
2 | 2 | .4 | Purchase and Sale Agreement between CPR Del Sol LP, S.E., CPR Escorial LP, S.E., CPR Cayey LP, S.E., CPR Palma Real LP, S.E., CPR Isabela LP, S.E. and CPR San Germain LP, S.E. and the Company dated November 2, 2004 | Current Report on Form 8-K (Filed with the SEC on November 5, 2004) | ||||||
3 | 3 | .1 | Amended and Restated Articles of Incorporation of the Company, as amended | Quarterly Report on Form 10-Q (Filed with the SEC on August 9, 2007) | ||||||
3 | 3 | .2 | Second Amendment to the Amended and Restated Articles of Incorporation of the Company | Quarterly Report on Form 10-Q (Filed with the SEC on August 9, 2007) | ||||||
3 | 3 | .3 | Third Amendment to the Amended and Restated Articles of Incorporation of the Company | Quarterly Report on Form 10-Q (Filed with the SEC on August 9, 2007) | ||||||
3 | 3 | .4 | Fourth Amendment to the Amended and Restated Articles of Incorporation of the Company | Quarterly Report on Form 10-Q (Filed with the SEC on August 9, 2007) | ||||||
3 | 3 | .5 | Fifth Amendment to the Amended and Restated Articles of Incorporation of the Company | Quarterly Report on Form 10-Q (Filed with the SEC on August 9, 2007) | ||||||
3 | 3 | .6 | Sixth Amendment to the Amended and | Quarterly Report on |
136
Exhibit No. |
Form 10-K |
Filed Herewith or |
||||||||
Under Reg.S-K |
Exhibit |
Incorporated Herein by |
||||||||
Item 601
|
No. |
Description
|
Reference
|
|||||||
Restated Articles of Incorporation of the Company | Form 10-Q (Filed with the SEC on August 9, 2007) | |||||||||
3 | 3 | .7 | Seventh Amendment to the Amended and Restated Articles of Incorporation of the Company | Quarterly Report on Form 10-Q (Filed with the SEC on August 9, 2007) | ||||||
3 | 3 | .8 | Eighth Amendment to the Amended and Restated Articles of Incorporation of the Company | Quarterly Report on Form 10-Q (Filed with the SEC on August 9, 2007) | ||||||
3 | 3 | .9 | Amended and Restated Code of Regulations of the Company | Quarterly Report on Form 10-Q (Filed with the SEC on August 9, 2007) | ||||||
4 | 4 | .1 | Specimen Certificate for Common Shares | Form S-3 Registration No. 33-78778 (Filed with the SEC on May 10, 1994) | ||||||
4 | 4 | .2 | Specimen Certificate for 8.0% Class G Cumulative Redeemable Preferred Shares | Form 8-A Registration Statement (Filed with the SEC on March 25, 2003) | ||||||
4 | 4 | .3 | Specimen Certificate for Depositary Shares Relating to 8.0% Class G Cumulative Redeemable Preferred Shares | Form 8-A Registration Statement (Filed with the SEC on March 25, 2003) | ||||||
4 | 4 | .4 | Specimen Certificate for 73/8% Class H Cumulative Redeemable Preferred Shares | Form 8-A Registration Statement (Filed with the SEC on July 17, 2003) | ||||||
4 | 4 | .5 | Specimen Certificate for Depositary Shares Relating to 73/8% Class H Cumulative Redeemable Preferred Shares | Form 8-A Registration Statement (Filed with the SEC on July 17, 2003) | ||||||
4 | 4 | .6 | Specimen Certificate for 7.50% Class I Cumulative Redeemable Preferred Shares | Form 8-A Registration Statement (Filed with the SEC on May 4, 2004) | ||||||
4 | 4 | .7 | Specimen Certificate for Depositary Shares Relating to 7.50% Class I Cumulative Redeemable Preferred Shares | Form 8-A Registration Statement (Filed with the SEC on May 4, 2004) | ||||||
4 | 4 | .8 | Indenture dated as of May 1, 1994 by and between the Company and Chemical Bank, as Trustee | Form S-3 Registration No. 333-108361 (Filed with the SEC on August 29, 2003) | ||||||
4 | 4 | .9 | Indenture dated as of May 1, 1994 by and between the Company and | Form S-3 Registration No. | ||||||
National City Bank, as Trustee (the NCB Indenture) | 333-108361 (Filed with the SEC on August 29, 2003) | |||||||||
4 | 4 | .10 | First Supplement to NCB Indenture | Form S-3 Registration No. 333-108361 (Filed with the SEC on August 29, 2003) | ||||||
4 | 4 | .11 | Second Supplement to NCB Indenture | Form S-3 Registration No. 333-108361 (Filed with the SEC on August 29, 2003) | ||||||
4 | 4 | .12 | Third Supplement to NCB Indenture | Form S-4 Registration No. 333-117034 (Filed with the SEC on June 30, 2004) | ||||||
4 | 4 | .13 | Fourth Supplement to NCB Indenture | Form S-4 Registration No. 333-117034 (Filed with the SEC on June 30, 2004) | ||||||
4 | 4 | .14 | Fifth Supplement to NCB Indenture | Annual Report on Form 10-K (Filed with the SEC on February 21, 2007) | ||||||
4 | 4 | .15 | Sixth Supplement to NCB Indenture | Annual Report on Form 10-K (Filed with the SEC on February 21, 2007) | ||||||
4 | 4 | .16 | Seventh Supplement to NCB Indenture | Current Report on Form 8-K (Filed with the SEC on September 1, 2006) | ||||||
4 | 4 | .17 | Eight Supplement to NCB Indenture | Current Report on Form 8-K (Filed with the SEC on March 16, 2007) | ||||||
4 | 4 | .18 | Form of Fixed Rate Senior Medium-Term Note | Annual Report on Form 10-K (Filed with the SEC on March 30, 2000; File No. 001-11690) | ||||||
4 | 4 | .19 | Form of Floating Rate Senior Medium- Term Note | Annual Report on Form 10-K (Filed with the SEC on March 30, 2000; File No. 001-11690) |
137
Exhibit No. |
Form 10-K |
Filed Herewith or |
||||||||
Under Reg.S-K |
Exhibit |
Incorporated Herein by |
||||||||
Item 601
|
No. |
Description
|
Reference
|
|||||||
4 | 4 | .20 | Form of Fixed Rate Subordinated Medium-Term Note | Annual Report on Form 10-K (Filed with the SEC on March 30, 2000; File No. 001-11690) | ||||||
4 | 4 | .21 | Form of Floating Rate Subordinated Medium-Term Note | Annual Report on Form 10-K (Filed with the SEC on March 30, 2000; File No. 001-11690) | ||||||
4 | 4 | .22 | Form of 3.875% Note due 2009 | Current Report on Form 8-K (Filed with the SEC on January 22, 2004) | ||||||
4 | 4 | .23 | Form of 5.25% Note due 2011 | Form S-4 Registration No. 333-117034 (Filed with the SEC on June 30, 2004) | ||||||
4 | 4 | .24 | Form of 3.00% Convertible Senior Note due 2012 | Current Report on Form 8-K (Filed with the SEC on March 16, 2007) | ||||||
4 | 4 | .25 | Form of 3.50% Convertible Senior Note due 2011 | Current Report on Form 8-K (Filed with the SEC on September 1, 2006) | ||||||
4 | 4 | .26 | Seventh Amended and Restated Credit Agreement dated as of June 29, 2006 among the Company and JPMorgan Securities, Inc. and Banc of America Securities LLC, and other lenders named therein | Current Report on Form 8-K (Filed with the SEC on July 6, 2006) | ||||||
4 | 4 | .27 | First Amendment to the Seventh Amended and Restated Revolving Credit Agreement dated as of March 30, 2007 among the Company and JPMorgan Chase Bank, N.A and other lenders named therein | Current Report on Form 8-K (Filed with the SEC on February 26, 2007) | ||||||
4 | 4 | .28 | Second Amendment to the Seventh Amended and Restated Revolving Credit Agreement dated as of December 7, 2007 among the Company and JPMorgan Chase Bank, N.A and other lenders named therein | Current Report on Form 8-K (Filed with the SEC on December 12, 2007) | ||||||
4 | 4 | .29 | Third Amendment to the Seventh Amended and Restated Revolving Credit Agreement dated as of December 26, 2007 among the Company and JPMorgan Chase Bank, N.A and other lenders named therein | Current Report on Form 8-K (Filed with the SEC on December 28, 2007) | ||||||
4 | 4 | .30 | First Amended and Restated Secured Term Loan Agreement dated as of June 29, 2006 among the Company and Keybanc Capital Markets and Banc of America Securities, LLC and other lenders named therein | Current Report on Form 8-K (Filed with the SEC on July 6, 2006) | ||||||
4 | 4 | .31 | Second Amendment to the First Amended and Restated Secured Term Loan Agreement dated as of March 30, 2007 among the Company, Keybanc Capital Markets and Banc of America Securities, LLC and other lenders named therein | Quarterly Report on Form 10-Q (Filed with the SEC on May 10, 2007) | ||||||
4 | 4 | .32 | Third Amendment to the First Amended and Restated Secured Term Loan Agreement dated as of December 10, 2007 among the Company, Keybanc Capital Markets and Banc of America Securities, LLC and other lenders named therein | Current Report on Form 8-K (Filed with the SEC on December 12, 2007) | ||||||
4 | 4 | .33 | Form of Indemnification Agreement | Annual Report on Form 10-K (Filed with the SEC on March 15, 2004) | ||||||
4 | 4 | .34 | Shareholder Rights Agreement dated as of May 26, 1999 between the Company and National City Bank | Quarterly Report on Form 10-Q (Filed with the SEC on August 16, 1999; File No. 001-11690) |
138
Exhibit No. |
Form 10-K |
Filed Herewith or |
||||||||
Under Reg.S-K |
Exhibit |
Incorporated Herein by |
||||||||
Item 601
|
No. |
Description
|
Reference
|
|||||||
4 | 4 | .35 | Registration Rights Agreement dated as of March 3, 2007 among the Company and the Initial Purchasers named therein | Current Report on Form 8-K (Filed with the SEC on March 16, 2007) | ||||||
4 | 4 | .36 | Registration Rights Agreement dated as of August 28, 2006 among the Company and the Initial Purchasers named therein | Current Report on Form 8-K (Filed with the SEC on September 1, 2006) | ||||||
10 | 10 | .1 | Registration Rights Agreement | Form S-11 Registration No. 33-54930 (Filed with the SEC on November 23, 1992) | ||||||
10 | 10 | .2 | Stock Option Plan* | Form S-8 Registration No. 33-74562 (Filed with the SEC on January 28, 1994) | ||||||
10 | 10 | .3 | Amended and Restated Directors Deferred Compensation Plan* | Form S-8 Registration No. 333-147270 (Filed with the SEC on November 9, 2007) | ||||||
10 | 10 | .4 | Elective Deferred Compensation Plan* | Annual Report on Form 10-K (Filed with the SEC on March 15, 2004) | ||||||
10 | 10 | .5 | Developers Diversified Realty Corporation Equity Deferred Compensation Plan* | Form S-3 Registration No. 333-108361 (Filed with the SEC on August 29, 2003) | ||||||
10 | 10 | .6 | Developers Diversified Realty Corporation Equity-Based Award Plan* | Annual Report on Form 10-K (Filed with the SEC on March 15, 2004) | ||||||
10 | 10 | .7 | Amended and Restated 1998 Developers Diversified Realty Corporation Equity-Based Award Plan* | Form S-8 Registration No. 333-76537 (Filed with the SEC on April 19, 1999) | ||||||
10 | 10 | .8 | 2002 Developers Diversified Realty Corporation Equity-Based Award Plan* | Quarterly Report on Form 10-Q (Filed with the SEC on August 14, 2002) | ||||||
10 | 10 | .9 | 2004 Developers Diversified Realty Corporation Equity-Based Award Plan* | Form S-8 Registration No. 333-117069 (Filed with the SEC on July 1, 2004) | ||||||
10 | 10 | .10 | Form of Restricted Share Agreement under the 1996/1998/2002/2004 Developers Diversified Realty Corporation Equity-Based Award Plan* | Annual Report on Form 10-K (Filed with the SEC on March 16, 2005) | ||||||
10 | 10 | .11 | Form of Restricted Share Agreement for Executive Officers under the 2004 Developers Diversified Realty Corporation Equity-Based Award Plan* | Quarterly Report on Form 10-Q (Filed with the SEC on November 9, 2006) | ||||||
10 | 10 | .12 | Form of Incentive Stock Option Grant Agreement for Executive Officers under the 2004 Developers Diversified Realty Corporation Equity-Based Award Plan* | Quarterly Report on Form 10-Q (Filed with the SEC on November 9, 2006) | ||||||
10 | 10 | .13 | Form of Incentive Stock Option | Quarterly Report on | ||||||
Grant Agreement for Executive Officers (with accelerated vesting upon retirement) under the 2004 Developers Diversified Realty Corporation Equity-Based Award Plan* | Form 10-Q (Filed with the SEC on November 9, 2006) | |||||||||
10 | 10 | .14 | Form of Non-Qualified Stock Option Grant Agreement for Executive Officers under the 2004 Developers Diversified Realty Corporation Equity-Based Award Plan* | Quarterly Report on Form 10-Q (Filed with the SEC on November 9, 2006) | ||||||
10 | 10 | .15 | Form of Non-Qualified Stock Option Grant Agreement for Executive Officers (with accelerated vesting upon retirement) under the 2004 Developers Diversified Realty Corporation Equity-Based Award Plan* | Quarterly Report on Form 10-Q (Filed with the SEC on November 9, 2006) | ||||||
10 | 10 | .16 | Form of Directors Restricted Shares Agreement, dated January 1, 2000* | Form S-11 Registration No. 333-76278 (Filed with SEC on January 4, 2002; see Exhibit 10(ff) therein) | ||||||
10 | 10 | .17 | Performance Units Agreement, dated as of March 1, 2000, between the Company and Scott A. Wolstein* | Annual Report on Form 10-K (Filed with the SEC on March 8, 2002) |
139
Exhibit No. |
Form 10-K |
Filed Herewith or |
||||||||
Under Reg.S-K |
Exhibit |
Incorporated Herein by |
||||||||
Item 601
|
No. |
Description
|
Reference
|
|||||||
10 | 10 | .18 | Performance Units Agreement, dated as of January 2, 2002, between the Company and Scott A. Wolstein* | Annual Report on Form 10-K (Filed with the SEC on March 8, 2002) | ||||||
10 | 10 | .19 | Performance Units Agreement, dated as of January 2, 2002, between the Company and David M. Jacobstein* | Quarterly Report on Form 10-Q (Filed with the SEC on May 15, 2002) | ||||||
10 | 10 | .20 | Performance Units Agreement, dated as of January 2, 2002, between the Company and Daniel B. Hurwitz* | Quarterly Report on Form 10-Q (Filed with the SEC on May 15, 2002) | ||||||
10 | 10 | .21 | Incentive Compensation Agreement, effective as of February 11, 1998, between the Company and Scott A. Wolstein* | Quarterly Report on Form 10-Q (Filed with the SEC on May 15, 2002) | ||||||
10 | 10 | .22 | Amended and Restated Employment Agreement dated as of November 6, 2006 between the Company and Joan U. Allgood* | Quarterly Report on Form 10-Q (Filed with the SEC on November 9, 2006) | ||||||
10 | 10 | .23 | Amended and Restated Employment Agreement dated as of November 6, 2006 between the Company and Richard E. Brown* | Quarterly Report on Form 10-Q (Filed with the SEC on November 9, 2006) | ||||||
10 | 10 | .24 | Amended and Restated Employment Agreement, dated as of November 6, 2006, between the Company and Timothy J. Bruce* | Quarterly Report on Form 10-Q (Filed with the SEC on November 9, 2006) | ||||||
10 | 10 | .25 | Employment Agreement dated as of May 25, 1999 between the Company and Daniel B. Hurwitz* | Quarterly Report on Form 10-Q (Filed with the SEC on August 16, 1999; File No. 001-11690) | ||||||
10 | 10 | .26 | Amended and Restated Employment Agreement dated as of February 8, 2007 between the Company and David M. Jacobstein | Current Report on Form 8-K (Filed with the SEC on February 9, 2007) | ||||||
10 | 10 | .27 | Employment Agreement dated as of April 19, 2007 between the Company and David J. Oakes | Current Report on Form 8-K (Filed with the SEC on April 24, 2007) | ||||||
10 | 10 | .28 | Amended and Restated Employment Agreement dated as of November 6, 2006 between the Company and William H. Schafer* | Quarterly Report on Form 10-Q (Filed with the SEC on November 9, 2006) | ||||||
10 | 10 | .29 | Employment Agreement dated as of November 6, 2006 between the Company and Robin R. Walker-Gibbons* | Quarterly Report on Form 10-Q (Filed with the SEC on November 9, 2006) | ||||||
10 | 10 | .30 | Employment Agreement dated as of December 6, 2001, between the Company and Scott A. Wolstein* | Annual Report on Form 10-K (Filed with the SEC on March 8, 2002) | ||||||
10 | 10 | .31 | Amended and Restated Change of Control Agreement dated as of November 6, 2006 between the Company and Joan U. Allgood* | Quarterly Report on Form 10-Q (Filed with the SEC on November 9, 2006) | ||||||
10 | 10 | .32 | Amended and Restated Change of Control Agreement dated as of November 6, 2006 between the Company and Richard E. Brown* | Quarterly Report on Form 10-Q (Filed with the SEC on November 9, 2006) | ||||||
10 | 10 | .33 | Amended and Restated Change of Control Agreement, dated as of November 6, 2006, between the Company and Timothy J. Bruce* | Quarterly Report on Form 10-Q (Filed with the SEC on November 9, 2006) |
140
Exhibit No. |
Form 10-K |
Filed Herewith or |
||||||||
Under Reg.S-K |
Exhibit |
Incorporated Herein by |
||||||||
Item 601
|
No. |
Description
|
Reference
|
|||||||
10 | 10 | .34 | Change of Control Agreement dated as of May 25, 1999 between the Company and Daniel B. Hurwitz* | Quarterly Report on Form 10-Q (Filed with the SEC on August 16, 1999) | ||||||
10 | 10 | .35 | Amended and Restated Change of Control Agreement dated as of February 8, 2007 between the Company and David M. Jacobstein* | Current Report on Form 8-K (Filed with the SEC on February 9, 2007) | ||||||
10 | 10 | .36 | Change of Control Agreement dated as of April 19, 2007 between the Company and David J. Oakes* | Current Report on Form 8-K (Filed with the SEC on April 24, 2007) | ||||||
10 | 10 | .37 | Amended and Restated Change of Control Agreement dated as of November 6, 2006 between the Company and William H. Schafer* | Quarterly Report on Form 10-Q (Filed with the SEC on November 9, 2006) | ||||||
10 | 10 | .38 | Change of Control Agreement dated as of April 9, 2007 between the Company and Christa Vesy* | Current Report on Form 8-K (Filed with the SEC on April 9, 2007) | ||||||
10 | 10 | .39 | Amended and Restated Change of Control Agreement dated as of November 6, 2006 between the Company and Robin R. Walker-Gibbons* | Quarterly Report on Form 10-Q (Filed with the SEC on November 9, 2006) | ||||||
10 | 10 | .40 | Form of Change of Control Agreement dated as of March 24, 1999 between the Company and each of Scott A. Wolstein* | Quarterly Report on Form 10-Q (Filed with the SEC on May 17, 1999; File No. 001- 11690) | ||||||
10 | 10 | .41 | Outperformance Long-Term Incentive Plan Agreement dated as of August 18, 2006 between the Company and Scott A. Wolstein* | Quarterly Report on Form 10-Q (Filed with the SEC on November 9, 2006) | ||||||
10 | 10 | .42 | Outperformance Long-Term Incentive Plan Agreement dated as of August 18, 2006 between the Company and Daniel B. Hurwitz* | Quarterly Report on Form 10-Q (Filed with the SEC on November 9, 2006) | ||||||
10 | 10 | .43 | Outperformance Long-Term Incentive Plan Agreement dated as of February 23, 2006 between the Company and Joan U. Allgood* | Quarterly Report on Form 10-Q (Filed with the SEC on November 9, 2006) | ||||||
10 | 10 | .44 | Outperformance Long-Term Incentive Plan Agreement dated as of February 23, 2006 between the Company and Richard E. Brown* | Quarterly Report on Form 10-Q (Filed with the SEC on November 9, 2006) | ||||||
10 | 10 | .45 | Outperformance Long-Term Incentive Plan Agreement dated as of February 23, 2006 between the Company and Timothy J. Bruce* | Quarterly Report on Form 10-Q (Filed with the SEC on November 9, 2006) | ||||||
10 | 10 | .46 | Outperformance Long-Term Incentive Plan Agreement dated as of February 23, 2006 between the Company and William H. Schafer* | Quarterly Report on Form 10-Q (Filed with the SEC on November 9, 2006) | ||||||
10 | 10 | .47 | Outperformance Long-Term Incentive Plan Agreement dated as of February 23, 2006 between the Company and Robin R. Walker-Gibbons* | Quarterly Report on Form 10-Q (Filed with the SEC on November 9, 2006) | ||||||
10 | 10 | .48 | Form of Medium-Term Note Distribution Agreement | Annual Report on Form 10-K (Filed with the SEC on March 30, 2000; File No. 001-11690) |
141
Exhibit No. |
Form 10-K |
Filed Herewith or |
||||||||
Under Reg.S-K |
Exhibit |
Incorporated Herein by |
||||||||
Item 601
|
No. |
Description
|
Reference
|
|||||||
10 | 10 | .49 | Program Agreement for Retail Value Investment Program, dated as of February 11, 1998, among Retail Value Management, Ltd., the Company and The Prudential Insurance Company of America | Annual Report on Form 10-K (Filed with the SEC on March 15, 2004) | ||||||
10 | 10 | .50 | Confirmation of Forward Sale Transaction dated as of December 4, 2006 between the Company and Deutsche Bank AG London | Current Report on Form 8-K (Filed with the SEC on December 7, 2006) | ||||||
10 | 10 | .51 | Confirmation of Forward Sale Transaction dated as of December 4, 2006 between the Company and Merrill Lynch International | Current Report on Form 8-K (Filed with the SEC on December 7, 2006) | ||||||
10 | 10 | .52 | Confirmation of Forward Sale Transaction dated as of December 4, 2006 between the Company and JPMorgan Chase Bank, National Association | Current Report on Form 8-K (Filed with the SEC on December 7, 2006) | ||||||
10 | 10 | .53 | 2007 Supplemental Equity Program* | Filed herewith | ||||||
10 | 10 | .54 | Developers Diversified Realty Corporation 2005 Directors Deferred Compensation Plan* | Form S-8 Registration No. 333-147270 (Filed with the SEC on November 9, 2007) | ||||||
14 | 14 | .1 | Developers Diversified Realty Corporation Code of Ethics for Senior Financial Officers | Annual Report on Form 10-K (Filed with the SEC on March 15, 2004) | ||||||
21 | 21 | .1 | List of Subsidiaries | Filed herewith | ||||||
23 | 23 | .1 | Consent of PricewaterhouseCoopers LLP | Filed herewith | ||||||
23 | 23 | .2 | Consent of PricewaterhouseCoopers LLP (DDR Macquarie Fund LLC) | Filed herewith | ||||||
23 | 23 | .3 | Consent of PricewaterhouseCoopers LLP (TRT DDR Venture I General Partnership) | Filed herewith | ||||||
31 | 31 | .1 | Certification of principal executive officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934 | Filed herewith | ||||||
31 | 31 | .2 | Certification of principal financial officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934 | Filed herewith | ||||||
32 | 32 | .1 | Certification of chief executive officer pursuant to Rule 13a-14(b) of the Securities Exchange Act of 1934 and 18 U.S.C. Section 1350 | Filed herewith | ||||||
32 | 32 | .2 | Certification of chief financial officer pursuant to Rule 13a-14(b) of the Securities Exchange Act of 1934 and 18 U.S.C. Section 1350 | Filed herewith | ||||||
99 | 99 | .1 | Voting Agreement, dated October 4, 2002, between the Company and certain stockholders named therein | Current Report on Form 8-K (Filed with the SEC on October 9, 2002) | ||||||
99 | 99 | .2 |
DDR Macquarie Fund LLC Consolidated Financial Statements |
Filed herewith | ||||||
99 | 99 | .3 | TRT DDR Venture I General Partnership Consolidated Financial Statements | Filed herewith |
* | Management contracts and compensatory plans or arrangements required to be filed as an exhibit pursuant to Item 15(b) of Form 10-K. |
142
Page | ||||||||
Financial Statements:
|
||||||||
F-2 | ||||||||
F-3 | ||||||||
F-4 | ||||||||
F-5 | ||||||||
F-6 | ||||||||
Notes to Consolidated Financial Statements
|
F-7 | |||||||
Financial Statement Schedules:
|
||||||||
F-54 | ||||||||
III Real Estate and Accumulated Depreciation at
December 31, 2007
|
F-55 | |||||||
EX-10.53 | ||||||||
EX-21.1 | ||||||||
EX-23.1 | ||||||||
EX-23.2 | ||||||||
EX-23.3 | ||||||||
EX-31.1 | ||||||||
EX-31.2 | ||||||||
EX-32.1 | ||||||||
EX-32.2 | ||||||||
EX-99.2 | ||||||||
EX-99.3 |
F-1
F-2
December 31, | ||||||||
2007 | 2006 | |||||||
Assets
|
||||||||
Land
|
$ | 2,142,942 | $ | 1,768,702 | ||||
Buildings
|
5,933,890 | 5,023,665 | ||||||
Fixtures and tenant improvements
|
237,117 | 196,275 | ||||||
8,313,949 | 6,988,642 | |||||||
Less: Accumulated depreciation
|
(1,024,048 | ) | (861,266 | ) | ||||
7,289,901 | 6,127,376 | |||||||
Construction in progress and land under development
|
664,926 | 453,493 | ||||||
Real estate held for sale
|
5,796 | 5,324 | ||||||
Real estate, net
|
7,960,623 | 6,586,193 | ||||||
Investments in and advances to joint ventures
|
638,111 | 291,685 | ||||||
Cash and cash equivalents
|
49,547 | 28,378 | ||||||
Restricted cash
|
58,958 | | ||||||
Accounts receivable, net
|
199,354 | 152,161 | ||||||
Notes receivable
|
18,557 | 18,161 | ||||||
Deferred charges, net
|
31,172 | 23,708 | ||||||
Other assets
|
133,494 | 79,467 | ||||||
$ | 9,089,816 | $ | 7,179,753 | |||||
Liabilities and Shareholders Equity
|
||||||||
Unsecured indebtedness:
|
||||||||
Senior notes
|
$ | 2,622,219 | $ | 2,218,020 | ||||
Revolving credit facility
|
709,459 | 297,500 | ||||||
3,331,678 | 2,515,520 | |||||||
Secured indebtedness:
|
||||||||
Term debt
|
800,000 | 400,000 | ||||||
Mortgage and other secured indebtedness
|
1,459,336 | 1,333,292 | ||||||
2,259,336 | 1,733,292 | |||||||
Total indebtedness
|
5,591,014 | 4,248,812 | ||||||
Accounts payable and accrued expenses
|
141,629 | 134,781 | ||||||
Dividends payable
|
85,851 | 71,269 | ||||||
Other liabilities
|
143,616 | 106,775 | ||||||
5,962,110 | 4,561,637 | |||||||
Minority equity interests
|
111,767 | 104,596 | ||||||
Operating partnership minority interests
|
17,114 | 17,337 | ||||||
6,090,991 | 4,683,570 | |||||||
Commitments and contingencies (Note 12)
|
||||||||
Shareholders equity:
|
||||||||
Preferred shares (Note 13)
|
555,000 | 705,000 | ||||||
Common shares, without par value, $.10 stated value;
300,000,000 shares authorized; 126,793,684 and
109,739,262 shares issued at December 31, 2007 and
2006, respectively
|
12,679 | 10,974 | ||||||
Paid-in-capital
|
3,029,176 | 1,959,629 | ||||||
Accumulated distributions in excess of net income
|
(260,018 | ) | (159,615 | ) | ||||
Deferred compensation obligation
|
22,862 | 12,386 | ||||||
Accumulated other comprehensive income
|
8,965 | 7,829 | ||||||
Less: Common shares in treasury at cost: 7,345,304 and
752,975 shares at December 31, 2007 and 2006,
respectively
|
(369,839 | ) | (40,020 | ) | ||||
2,998,825 | 2,496,183 | |||||||
$ | 9,089,816 | $ | 7,179,753 | |||||
F-3
For the Year Ended December 31, | ||||||||||||
2007 | 2006 | 2005 | ||||||||||
Revenues from operations:
|
||||||||||||
Minimum rents
|
$ | 644,286 | $ | 530,510 | $ | 474,524 | ||||||
Percentage and overage rents
|
10,694 | 10,794 | 9,404 | |||||||||
Recoveries from tenants
|
205,664 | 169,313 | 148,644 | |||||||||
Ancillary and other property income
|
19,642 | 19,556 | 14,216 | |||||||||
Management fees, development fees and other fee income
|
50,840 | 30,294 | 22,859 | |||||||||
Other
|
13,725 | 14,857 | 8,462 | |||||||||
944,851 | 775,324 | 678,109 | ||||||||||
Rental operation expenses:
|
||||||||||||
Operating and maintenance
|
133,334 | 107,208 | 91,916 | |||||||||
Real estate taxes
|
108,977 | 89,895 | 79,344 | |||||||||
General and administrative
|
81,244 | 60,679 | 54,048 | |||||||||
Depreciation and amortization
|
219,101 | 182,007 | 153,605 | |||||||||
542,656 | 439,789 | 378,913 | ||||||||||
402,195 | 335,535 | 299,196 | ||||||||||
Other income (expense):
|
||||||||||||
Interest income
|
8,808 | 9,053 | 10,004 | |||||||||
Interest expense
|
(261,318 | ) | (208,512 | ) | (170,587 | ) | ||||||
Other expense, net
|
(3,019 | ) | (446 | ) | (2,532 | ) | ||||||
(255,529 | ) | (199,905 | ) | (163,115 | ) | |||||||
Income before equity in net income of joint ventures, minority
interests, tax benefit (expense) of taxable REIT subsidiaries
and franchise taxes, discontinued operations and gain on
disposition of real estate
|
146,666 | 135,630 | 136,081 | |||||||||
Equity in net income of joint ventures
|
43,229 | 30,337 | 34,873 | |||||||||
Income before minority interests, tax benefit (expense) of
taxable REIT subsidiaries and franchise taxes, discontinued
operations and gain on disposition of real estate
|
189,895 | 165,967 | 170,954 | |||||||||
Minority equity interests:
|
||||||||||||
Minority equity interests
|
(5,818 | ) | (6,337 | ) | (4,965 | ) | ||||||
Preferred operating partnership minority interests
|
(9,690 | ) | | | ||||||||
Operating partnership minority interests
|
(2,275 | ) | (2,116 | ) | (2,916 | ) | ||||||
(17,783 | ) | (8,453 | ) | (7,881 | ) | |||||||
Tax benefit (expense) of taxable REIT subsidiaries and franchise
taxes
|
14,642 | 2,497 | (276 | ) | ||||||||
Income from continuing operations
|
186,754 | 160,011 | 162,797 | |||||||||
Discontinued operations:
|
||||||||||||
Income from discontinued operations
|
8,183 | 10,179 | 15,039 | |||||||||
Gain on disposition of real estate, net of tax
|
12,259 | 11,051 | 16,667 | |||||||||
20,442 | 21,230 | 31,706 | ||||||||||
Income before gain on disposition of real estate
|
207,196 | 181,241 | 194,503 | |||||||||
Gain on disposition of real estate
|
68,851 | 72,023 | 88,140 | |||||||||
Net income
|
$ | 276,047 | $ | 253,264 | $ | 282,643 | ||||||
Preferred dividends
|
50,934 | 55,169 | 55,169 | |||||||||
Net income applicable to common shareholders
|
$ | 225,113 | $ | 198,095 | $ | 227,474 | ||||||
Per share data:
|
||||||||||||
Basic earnings per share data:
|
||||||||||||
Income from continuing operations
|
$ | 1.69 | $ | 1.63 | $ | 1.81 | ||||||
Income from discontinued operations
|
0.17 | 0.19 | 0.29 | |||||||||
Net income applicable to common shareholders
|
$ | 1.86 | $ | 1.82 | $ | 2.10 | ||||||
Diluted earnings per share data:
|
||||||||||||
Income from continuing operations
|
$ | 1.68 | $ | 1.62 | $ | 1.79 | ||||||
Income from discontinued operations
|
0.17 | 0.19 | 0.29 | |||||||||
Net income applicable to common shareholders
|
$ | 1.85 | $ | 1.81 | $ | 2.08 | ||||||
Dividends declared per common share
|
$ | 2.64 | $ | 2.36 | $ | 2.16 | ||||||
F-4
Accumulated |
Accumulated |
Unearned |
||||||||||||||||||||||||||||||||||
Distributions in |
Deferred |
Other |
Compensation- |
Treasury |
||||||||||||||||||||||||||||||||
Preferred |
Common |
Paid-in- |
Excess of |
Compensation |
Comprehensive |
Restricted |
Stock at |
|||||||||||||||||||||||||||||
Shares | Shares | Capital | Net Income | Obligation | Income/(Loss) | Stock | Cost | Total | ||||||||||||||||||||||||||||
Balance, December 31, 2004
|
$ | 705,000 | $ | 10,852 | $ | 1,933,433 | $ | (92,290 | ) | $ | 10,265 | $ | 326 | $ | (5,415 | ) | $ | (7,852 | ) | $ | 2,554,319 | |||||||||||||||
Issuance of 425,985 common shares for cash related to exercise
of stock options, dividend reinvestment plan and performance
unit plan
|
| 43 | 10,857 | | | | (6,740 | ) | 6,206 | 10,366 | ||||||||||||||||||||||||||
Issuance of 88,360 common shares related to restricted stock plan
|
| | 2,306 | | | | (2,905 | ) | 1,646 | 1,047 | ||||||||||||||||||||||||||
Vesting of restricted stock
|
| | (1,351 | ) | | 1,351 | | 1,916 | | 1,916 | ||||||||||||||||||||||||||
Dividends declared-common shares
|
| | | (234,940 | ) | | | | | (234,940 | ) | |||||||||||||||||||||||||
Dividends declared-preferred shares
|
| | | (55,169 | ) | | | | | (55,169 | ) | |||||||||||||||||||||||||
Comprehensive income (Note 15):
|
||||||||||||||||||||||||||||||||||||
Net income
|
| | | 282,643 | | | | | 282,643 | |||||||||||||||||||||||||||
Other comprehensive income:
|
||||||||||||||||||||||||||||||||||||
Change in fair value of interest rate contracts
|
| | | | | 10,619 | | | 10,619 | |||||||||||||||||||||||||||
Amortization of interest rate contracts
|
| | | | | (520 | ) | | | (520 | ) | |||||||||||||||||||||||||
Comprehensive income
|
| | | 282,643 | | 10,099 | | | 292,742 | |||||||||||||||||||||||||||
Balance, December 31, 2005
|
705,000 | 10,895 | 1,945,245 | (99,756 | ) | 11,616 | 10,425 | (13,144 | ) | | 2,570,281 | |||||||||||||||||||||||||
Issuance of 726,574 common shares for cash related to exercise
of stock options, dividend reinvestment plan and director
compensation
|
| 28 | (1,819 | ) | | | | | 10,028 | 8,237 | ||||||||||||||||||||||||||
Redemption of operating partnership units in exchange for common
shares
|
| 45 | 22,371 | | | | | | 22,416 | |||||||||||||||||||||||||||
Repurchase of 909,000 common shares
|
| | | | | | | (48,313 | ) | (48,313 | ) | |||||||||||||||||||||||||
Issuance of 64,940 common shares related to restricted stock plan
|
| 6 | 653 | | | | | (150 | ) | 509 | ||||||||||||||||||||||||||
Vesting of restricted stock
|
| | 1,628 | | 770 | | | (1,585 | ) | 813 | ||||||||||||||||||||||||||
Purchased option arrangement on common shares
|
| | (10,337 | ) | | | | | | (10,337 | ) | |||||||||||||||||||||||||
Adoption of SFAS 123(R)
|
| | (1,558 | ) | | | | 13,144 | | 11,586 | ||||||||||||||||||||||||||
Stock-based compensation
|
| | 3,446 | | | | | | 3,446 | |||||||||||||||||||||||||||
Dividends declared-common shares
|
| | | (257,954 | ) | | | | | (257,954 | ) | |||||||||||||||||||||||||
Dividends declared-preferred shares
|
| | | (55,169 | ) | | | | | (55,169 | ) | |||||||||||||||||||||||||
Comprehensive income (Note 15):
|
||||||||||||||||||||||||||||||||||||
Net income
|
| | | 253,264 | | | | | 253,264 | |||||||||||||||||||||||||||
Other comprehensive income:
|
||||||||||||||||||||||||||||||||||||
Change in fair value of interest rate contracts
|
| | | | | (2,729 | ) | | | (2,729 | ) | |||||||||||||||||||||||||
Amortization of interest rate contracts
|
| | | | | (1,454 | ) | | | (1,454 | ) | |||||||||||||||||||||||||
Foreign currency translation
|
| | | | | 1,587 | | | 1,587 | |||||||||||||||||||||||||||
Comprehensive income
|
| | | 253,264 | | (2,596 | ) | | | 250,668 | ||||||||||||||||||||||||||
Balance, December 31, 2006
|
705,000 | 10,974 | 1,959,629 | (159,615 | ) | 12,386 | 7,829 | | (40,020 | ) | 2,496,183 | |||||||||||||||||||||||||
Issuance of 69,964 common shares related to the exercise of
stock options, dividend reinvestment plan, performance plan and
director compensation
|
| | (28,326 | ) | | 3,739 | | | 33,059 | 8,472 | ||||||||||||||||||||||||||
Issuance of 11,599,134 common shares for cash-underwritten
offering
|
| 1,160 | 745,485 | | | | | | 746,645 | |||||||||||||||||||||||||||
Issuance of 5,385,324 common shares associated with the IRRETI
merger
|
| 539 | 378,580 | | | | | 15,041 | 394,160 | |||||||||||||||||||||||||||
Repurchase of common shares
|
| | | | | | | (378,942 | ) | (378,942 | ) | |||||||||||||||||||||||||
Issuance of restricted stock
|
| 6 | (674 | ) | | 487 | | | 1,459 | 1,278 | ||||||||||||||||||||||||||
Vesting of restricted stock
|
| | (3,567 | ) | | 6,250 | | | (436 | ) | 2,247 | |||||||||||||||||||||||||
Purchased option arrangement on common shares
|
| | (32,580 | ) | | | | | | (32,580 | ) | |||||||||||||||||||||||||
Redemption of preferred shares
|
(150,000 | ) | | 5,405 | (5,405 | ) | | | | | (150,000 | ) | ||||||||||||||||||||||||
Stock-based compensation
|
| | 5,224 | | | | | | 5,224 | |||||||||||||||||||||||||||
Dividends declared-common shares
|
| | | (324,907 | ) | | | | | (324,907 | ) | |||||||||||||||||||||||||
Dividends declared-preferred shares
|
| | | (46,138 | ) | | | | | (46,138 | ) | |||||||||||||||||||||||||
Comprehensive income (Note 15):
|
||||||||||||||||||||||||||||||||||||
Net income
|
| | | 276,047 | | | | | 276,047 | |||||||||||||||||||||||||||
Other comprehensive income:
|
||||||||||||||||||||||||||||||||||||
Change in fair value of interest rate contracts
|
| | | | | (20,126 | ) | | | (20,126 | ) | |||||||||||||||||||||||||
Amortization of interest rate contracts
|
| | | | | (1,454 | ) | | | (1,454 | ) | |||||||||||||||||||||||||
Foreign currency translation
|
| | | | | 22,716 | | | 22,716 | |||||||||||||||||||||||||||
Comprehensive income
|
| | | 276,047 | | 1,136 | | | 277,183 | |||||||||||||||||||||||||||
Balance, December 31, 2007
|
$ | 555,000 | $ | 12,679 | $ | 3,029,176 | $ | (260,018 | ) | $ | 22,862 | $ | 8,965 | $ | | $ | (369,839 | ) | $ | 2,998,825 | ||||||||||||||||
F-5
For the Year Ended December 31, | ||||||||||||
2007 | 2006 | 2005 | ||||||||||
Cash flow from operating activities:
|
||||||||||||
Net income
|
$ | 276,047 | $ | 253,264 | $ | 282,643 | ||||||
Adjustments to reconcile net income to net cash flow provided by
operating activities:
|
||||||||||||
Depreciation and amortization
|
224,375 | 193,527 | 170,701 | |||||||||
Stock-based compensation
|
5,224 | 3,446 | | |||||||||
Amortization of deferred finance costs and settled interest rate
protection agreements
|
9,750 | 7,756 | 7,433 | |||||||||
Net cash received from interest rate hedging contracts
|
| | 10,645 | |||||||||
Ineffective portion of derivative financing investments
|
| 1,157 | | |||||||||
Equity in net income of joint ventures
|
(43,229 | ) | (30,337 | ) | (34,873 | ) | ||||||
Cash distributions from joint ventures
|
33,362 | 23,304 | 39,477 | |||||||||
Operating partnership minority interest expense
|
2,275 | 2,116 | 2,916 | |||||||||
Preferred operating partnership minority interest expense
|
9,690 | | | |||||||||
Gain on disposition of real estate and impairment charge, net
|
(81,110 | ) | (83,074 | ) | (104,165 | ) | ||||||
Net change in accounts receivable
|
(47,999 | ) | (38,013 | ) | (32,207 | ) | ||||||
Net change in accounts payable and accrued expenses
|
(11,955 | ) | 9,875 | 11,146 | ||||||||
Net change in other operating assets and liabilities
|
38,186 | (2,329 | ) | 1,707 | ||||||||
Total adjustments
|
138,569 | 87,428 | 72,780 | |||||||||
Net cash flow provided by operating activities
|
414,616 | 340,692 | 355,423 | |||||||||
Cash flow from investing activities:
|
||||||||||||
Real estate developed or acquired, net of liabilities assumed
|
(2,789,132 | ) | (454,357 | ) | (863,795 | ) | ||||||
Equity contributions to joint ventures
|
(247,882 | ) | (206,645 | ) | (28,244 | ) | ||||||
Repayment from (advances to) joint ventures, net
|
1,913 | 622 | (83,476 | ) | ||||||||
Proceeds resulting from contribution of properties to joint
ventures and repayments of advances from affiliates
|
1,274,679 | 298,059 | 344,292 | |||||||||
Proceeds from sale and refinancing of joint venture interests
|
43,041 | | | |||||||||
Return on investments in joint ventures
|
20,462 | 50,862 | 87,349 | |||||||||
Repayment (issuance) of notes receivable, net
|
1,014 | 6,834 | (7,172 | ) | ||||||||
Proceeds from disposition of real estate
|
606,547 | 101,578 | 211,603 | |||||||||
Restricted cash
|
(58,958 | ) | | | ||||||||
Net cash flow used for investing activities
|
(1,148,316 | ) | (203,047 | ) | (339,443 | ) | ||||||
Cash flow from financing activities:
|
||||||||||||
Proceeds from revolving credit facilities, net
|
412,436 | 147,500 | 90,000 | |||||||||
Proceeds from term loan borrowings
|
1,150,000 | | 70,000 | |||||||||
Repayment of term loans
|
(750,000 | ) | (20,000 | ) | | |||||||
Proceeds from mortgage and other secured debt
|
134,300 | 11,093 | 158,218 | |||||||||
Principal payments on mortgage debt
|
(401,697 | ) | (153,732 | ) | (809,396 | ) | ||||||
Repayment of senior notes
|
(197,000 | ) | | (1,000 | ) | |||||||
Proceeds from issuance of convertible senior notes, net of
underwriting commissions and offering expenses of $267 and $550
in 2007 and 2006, respectively
|
587,733 | 244,450 | | |||||||||
Proceeds from issuance of medium term notes, net of underwriting
commissions and $1,390 of offering expenses paid in 2005
|
| | 741,139 | |||||||||
Payment of deferred finance costs (bank borrowings)
|
(5,337 | ) | (4,047 | ) | (6,994 | ) | ||||||
Redemption of preferred shares
|
(150,000 | ) | | | ||||||||
Proceeds from issuance of common shares, net of underwriting
commissions and offering expenses paid of $208 in 2007
|
746,645 | | | |||||||||
Payment of underwriting commissions for forward-equity contracts
|
(32,580 | ) | (4,000 | ) | | |||||||
Purchased option arrangement for common shares
|
| (10,337 | ) | | ||||||||
Proceeds from the issuance of common shares in conjunction with
exercise of stock options, 401(k) plan and dividend reinvestment
plan
|
11,998 | 9,560 | 12,139 | |||||||||
Proceeds from issuance of preferred operating partnership
interest, net of expenses
|
484,204 | | | |||||||||
Redemption of preferred operating partnership interest
|
(484,204 | ) | | | ||||||||
Return of investment minority interest shareholder
|
(4,261 | ) | | | ||||||||
Purchase of operating partnership minority interests
|
(683 | ) | (2,097 | ) | | |||||||
Distributions to preferred and operating partnership minority
interests
|
(11,907 | ) | (2,347 | ) | (2,902 | ) | ||||||
Repurchase of common shares
|
(378,942 | ) | (48,313 | ) | | |||||||
Net cash received from foreign currency hedge contract
|
1,250 | | | |||||||||
Dividends paid
|
(356,464 | ) | (307,652 | ) | (286,400 | ) | ||||||
Net cash provided by (used for) financing activities
|
755,491 | (139,922 | ) | (35,196 | ) | |||||||
Cash and cash equivalents
|
||||||||||||
Increase (decrease) in cash and cash equivalents
|
21,791 | (2,277 | ) | (19,216 | ) | |||||||
Effect of exchange rate changes on cash and cash equivalents
|
(622 | ) | | | ||||||||
Cash and cash equivalents, beginning of year
|
28,378 | 30,655 | 49,871 | |||||||||
Cash and cash equivalents, end of year
|
$ | 49,547 | $ | 28,378 | $ | 30,655 | ||||||
F-6
1. | Summary of Significant Accounting Policies |
F-7
For the Year Ended December 31, | ||||||||||||
2007 | 2006 | 2005 | ||||||||||
Contribution of net assets of previously unconsolidated joint
ventures
|
$ | | $ | 2.9 | $ | 13.6 | ||||||
Consolidation of the net assets (excluding mortgages as
disclosed below) of previously unconsolidated joint ventures
|
14.4 | 368.9 | | |||||||||
Mortgages assumed, shopping center acquisitions and
consolidation of previously unconsolidated joint ventures
|
446.5 | 132.9 | 661.5 | |||||||||
Liabilities assumed with the acquisition of shopping centers
|
32.5 | | | |||||||||
Consolidation of net assets from adoption of EITF
04-05
|
| 43.0 | | |||||||||
Mortgages assumed, adoption of EITF
04-05
|
| 17.1 | | |||||||||
Dividends declared, not paid
|
85.9 | 71.3 | 65.8 | |||||||||
Fair value of interest rate swaps
|
20.1 | 1.1 | 0.3 | |||||||||
Deferred payment of swaption
|
| 2.8 | | |||||||||
Share issuance for operating partnership unit redemption
|
| 14.9 | |
Buildings
|
Useful lives, ranging from 30 to 40 years | |
Fixtures and tenant improvements
|
Useful lives, which approximate lease terms, where applicable |
F-8
F-9
F-10
F-11
Year Ended |
||||
December 31, |
||||
2005 | ||||
Net income, as reported
|
$ | 282,643 | ||
Add: Stock-based employee compensation included in reported net
income
|
5,652 | |||
Deduct: Total stock-based employee compensation expense
determined under fair value-based method for all awards
|
(5,319 | ) | ||
$ | 282,976 | |||
Earnings per share:
|
||||
Basic as reported
|
$ | 2.10 | ||
Basic pro forma
|
$ | 2.10 | ||
Diluted as reported
|
$ | 2.08 | ||
Diluted pro forma
|
$ | 2.09 | ||
F-12
F-13
F-14
F-15
2. | Investments in and Advances to Joint Ventures |
Effective |
||||||
Ownership |
||||||
Unconsolidated Real Estate Ventures
|
Percentage (1) |
Assets Owned
|
||||
Sun Center Limited
|
79.45 | % | A shopping center in Columbus, Ohio | |||
Continental Sawmill LLC
|
63.4 | Land | ||||
DDRA Community Centers Five LP
|
50.0 | Five shopping centers in several states | ||||
DOTRS LLC
|
50.0 | A shopping center in Macedonia, Ohio | ||||
Jefferson County Plaza LLC
|
50.0 | A shopping center in St. Louis (Arnold), Missouri | ||||
Lennox Town Center Limited
|
50.0 | A shopping center in Columbus, Ohio | ||||
Sansone Group/DDRC LLC
|
50.0 | A management and development company | ||||
Sonae Sierra Brazil BV Sarl
|
47.4 | Nine shopping centers, one shopping center under development and a management company in Brazil | ||||
Retail Value Investment Program IIIB LP
|
25.75 | A shopping center in Deer Park, Illinois | ||||
Retail Value Investment Program VIII LP
|
25.75 | A shopping center in Austin, Texas | ||||
Retail Value Investment Program VII LLC
|
21.0 | Two shopping centers in California | ||||
Coventry II DDR Buena Park LLC
|
20.0 | A shopping center in Buena Park, California | ||||
Coventry II DDR Fairplain LLC
|
20.0 | A shopping center in Benton Harbor, Michigan | ||||
Coventry II DDR Merriam Village LLC
|
20.0 | A shopping center in Merriam, Kansas | ||||
Coventry II DDR Phoenix Spectrum LLC
|
20.0 | A shopping center in Phoenix, Arizona | ||||
Coventry II DDR Totem Lakes LLC
|
20.0 | A shopping center in Kirkland, Washington | ||||
Coventry II DDR Ward Parkway LLC
|
20.0 | A shopping center in Kansas City, Missouri | ||||
DDR Domestic Retail Fund I
|
20.0 | 63 shopping centers in several states | ||||
DDR Markaz II LLC
|
20.0 | 13 neighborhood grocery-anchored retail properties in several states | ||||
DDR SAU Retail Fund LLC
|
20.0 | 29 shopping centers in several states | ||||
Service Holdings LLC
|
20.0 | 44 retail sites in several states | ||||
Coventry II DDR Westover LLC
|
20.0 | A shopping center in San Antonio, Texas | ||||
Coventry II DDR Tri-County LLC
|
18.0 | A shopping center in Cincinnati, Ohio | ||||
DDRTC Core Retail Fund LLC
|
15.0 | 66 shopping centers in several states | ||||
DDR Macquarie Fund LLC
|
14.5 | 51 shopping centers in several states | ||||
Coventry II DDR Bloomfield LLC
|
10.0 | A shopping center under development in Bloomfield Hills, Michigan | ||||
Coventry II DDR Marley Creek Square LLC
|
10.0 | A shopping center in Orland Park, Illinois | ||||
Coventry II DDR Montgomery Farm LLC
|
10.0 | A shopping center under development in Allen, Texas | ||||
DPG Realty Holdings LLC
|
10.0 | 12 neighborhood grocery-anchored retail properties in several states | ||||
TRT DDR Venture I GP
|
10.0 | Three shopping centers in several states | ||||
DDR MDT PS LLC(2)
|
0.0 | Six shopping centers in several states |
(1) | Ownership may be held through different investment structures. Percentage ownerships are subject to change as certain investments contain promoted structures. | |
(2) | See DDR MDT PS LLC discussed in Note 3. |
F-16
December 31, | ||||||||
2007 | 2006 | |||||||
Combined balance sheets
|
||||||||
Land
|
$ | 2,352,310 | $ | 902,486 | ||||
Buildings
|
6,165,329 | 2,703,711 | ||||||
Fixtures and tenant improvements
|
99,902 | 57,989 | ||||||
8,617,541 | 3,664,186 | |||||||
Less: Accumulated depreciation
|
(409,138 | ) | (245,674 | ) | ||||
8,208,403 | 3,418,512 | |||||||
Construction in progress
|
207,351 | 157,750 | ||||||
Real estate, net
|
8,415,754 | 3,576,262 | ||||||
Receivables, net
|
119,833 | 70,903 | ||||||
Leasehold interests
|
13,927 | 15,195 | ||||||
Other assets
|
362,825 | 129,914 | ||||||
$ | 8,912,339 | $ | 3,792,274 | |||||
Mortgage debt
|
$ | 5,465,839 | $ | 2,409,080 | ||||
Amounts payable to DDR
|
7,023 | 4,930 | ||||||
Other liabilities
|
199,132 | 92,904 | ||||||
5,671,994 | 2,506,914 | |||||||
Accumulated equity
|
3,240,345 | 1,285,360 | ||||||
$ | 8,912,339 | $ | 3,792,274 | |||||
Companys share of accumulated equity(1)
|
$ | 614,477 | $ | 252,937 | ||||
For the Year Ended December 31, | ||||||||||||
2007 | 2006 | 2005 | ||||||||||
Combined statements of operations
|
||||||||||||
Revenues from operations
|
$ | 800,411 | $ | 422,935 | $ | 416,468 | ||||||
Rental operation expenses
|
267,137 | 143,412 | 147,617 | |||||||||
Depreciation and amortization expense
|
190,326 | 79,706 | 82,516 | |||||||||
Interest expense
|
264,090 | 125,970 | 113,231 | |||||||||
721,553 | 349,088 | 343,364 | ||||||||||
Income before gain on disposition of real estate and
discontinued operations
|
78,858 | 73,847 | 73,104 | |||||||||
Income tax expense (primarily Brazil), net
|
(4,839 | ) | (1,176 | ) | | |||||||
Gain on disposition of real estate
|
94,386 | 398 | 858 | |||||||||
Income from continuing operations
|
168,405 | 73,069 | 73,962 | |||||||||
Discontinued operations:
|
||||||||||||
(Loss) income from discontinued operations, net of tax
|
(784 | ) | 24 | (358 | ) | |||||||
Gain on disposition of real estate, net of tax
|
2,516 | 20,343 | 48,982 | |||||||||
1,732 | 20,367 | 48,624 | ||||||||||
Net income
|
$ | 170,137 | $ | 93,436 | $ | 122,586 | ||||||
Companys share of net income(2)
|
$ | 44,537 | $ | 28,530 | $ | 36,828 | ||||||
F-17
For the Year Ended |
||||||||
December 31, | ||||||||
2007 | 2006 | |||||||
Companys proportionate share of accumulated equity
|
$ | 614.5 | $ | 252.9 | ||||
Basis differentials(2)
|
114.1 | 92.3 | ||||||
Deferred development fees, net of portion relating to the
Companys interest
|
(3.8 | ) | (3.0 | ) | ||||
Basis differential upon transfer of assets(2)
|
(97.2 | ) | (74.3 | ) | ||||
Notes receivable from investments
|
2.0 | 18.8 | ||||||
Amounts payable to DDR
|
8.5 | 5.0 | ||||||
Investments in and advances to joint ventures(1)
|
$ | 638.1 | $ | 291.7 | ||||
(1) | The difference between the Companys share of accumulated equity and the investments in and advances to joint ventures recorded on the Companys consolidated balance sheets primarily results from the basis differentials, as described below, deferred development fees, net of the portion relating to the Companys interest notes and amounts receivable from the unconsolidated joint ventures investments. | |
(2) | Basis differentials occur primarily when the Company has purchased interests in existing joint ventures at fair market values, which differ from their proportionate share of the historical net assets of the joint ventures. In addition, certain acquisition, transaction and other costs, including capitalized interest, may not be reflected in the net assets at the joint venture level. Basis differentials upon transfer of assets are primarily associated with assets previously owned by the Company that have been transferred into a joint venture at fair value. This amount represents the aggregate difference between the Companys historical cost basis and the basis reflected at the joint venture level. Certain basis differentials indicated above are amortized over the life of the related asset. | |
Differences in income also occur when the Company acquires assets from joint ventures. The difference between the Companys share of net income, as reported above, and the amounts included in the consolidated statements of operations is attributable to the amortization of such basis differentials, deferred gains and differences in gain (loss) on sale of certain assets due to the basis differentials. The Companys share of joint venture net income has been reduced by $1.2 million, increased by $1.6 million and reduced by $2.1 million for the years ended December 31, 2007, 2006 and 2005, respectively, to reflect additional basis depreciation and basis differences in assets sold. |
For the Year Ended December 31, | ||||||||||||
2007 | 2006 | 2005 | ||||||||||
Management and other fees
|
$ | 40.4 | $ | 23.7 | $ | 16.7 | ||||||
Acquisition, financing, guarantee and other fees(1)
|
8.5 | 0.5 | 2.4 | |||||||||
Development fees and leasing commissions
|
9.6 | 6.1 | 5.6 | |||||||||
Interest income
|
0.5 | 5.4 | 6.8 | |||||||||
Disposition fees
|
| | 0.2 |
(1) | Acquisition fees of $6.3 million were earned from the formation of the joint venture with TIAA-CREF in 2007, excluding the Companys retained ownership of approximately 15%. Financing fees were earned from several joint venture interests, excluding the Companys retained ownership. The Companys fees were earned in conjunction with services rendered by the Company in connection with the acquisition of the IRRETI real estate assets and financings and re-financings of unconsolidated joint ventures. |
F-18
F-19
F-20
Joint |
Companys |
|||||||||||||
Number of |
Sales |
Venture |
Proportionate |
|||||||||||
Properties |
Price |
Gain |
Share of Gain |
|||||||||||
Year
|
Sold | (Millions) | (Millions) | (Millions) | ||||||||||
2006
|
One | $ | 8.1 | $ | 3.7 | $ | 1.2 | |||||||
2005
|
Three(1) | 73.3 | 21.1 | 6.7 |
(1) | One of the properties was sold over a two-year period. A majority of the shopping center was sold in 2004 and the outparcels were sold in 2005. |
Joint |
Companys |
|||||||||||||
Number of |
Sales |
Venture |
Proportionate |
|||||||||||
Properties |
Price |
Gain |
Share of Gain |
|||||||||||
Year
|
Sold | (Millions) | (Millions) | (Millions) | ||||||||||
2006
|
One | $ | 3.2 | $ | 0.2 | $ | | |||||||
2005
|
Eight | 19.4 | 7.6 | 1.9 |
F-21
| A 20% interest in a shopping center in Columbus, Ohio, purchased in 2005; | |
| A 20% interest in a shopping center development in Apex, North Carolina, purchased in 2006; | |
| A 50% interest in a shopping center in Phoenix, Arizona, purchased in 2006; | |
| A 50% interest in a shopping center in Salisbury, Maryland, purchased in 2006 and | |
| A 75% interest in a shopping center in Pasadena, California, purchased in 2006. |
| A 10% interest in a shopping center in Kildeer, Illinois, sold in 2006; | |
| A 20% interest in six Service Merchandise sites and one site sold in 2007 and 2006, respectively; | |
| A 20.75% interest in four properties held in the PREI Fund originally acquired from Burnham. A shopping center in Everett, Washington, was sold in 2006. Shopping centers in City of Industry, California; Richmond, California and San Ysidro, California, were sold in 2005; | |
| A 25.5% interest in a property held in the PREI Fund in Long Beach, California, sold in 2005; | |
| A 25.5% interest in five properties held in the PREI Fund in Kansas City, Kansas and Kansas City, Missouri, one sold in 2007 and four sold in 2006; | |
| An approximate 25% interest in one Service Merchandise site and eight sites sold in 2006 and 2005, respectively, and | |
| A 50% interest in a property in Fort Worth, Texas, sold in 2006. |
3. | DDR MDT PS LLC |
F-22
December 31, | ||||||||
2007 | 2006 | |||||||
Balance Sheet:
|
||||||||
Land
|
$ | 31,759 | $ | 31,430 | ||||
Buildings
|
87,838 | 85,152 | ||||||
Fixtures and tenant improvements
|
1,213 | 1,177 | ||||||
120,810 | 117,759 | |||||||
Less: Accumulated depreciation
|
(3,668 | ) | (1,338 | ) | ||||
117,142 | 116,421 | |||||||
Construction in progress
|
36 | 12 | ||||||
Real estate, net
|
117,178 | 116,433 | ||||||
Receivables, net
|
4,707 | 4,121 | ||||||
Other assets
|
3,100 | 3,070 | ||||||
$ | 124,985 | $ | 123,624 | |||||
Mortgage debt
|
$ | 86,000 | $ | 86,000 | ||||
Amounts payable to DDR
|
1,469 | 30 | ||||||
Other liabilities
|
1,951 | 1,744 | ||||||
89,420 | 87,774 | |||||||
Accumulated equity
|
35,565 | 35,850 | ||||||
$ | 124,985 | $ | 123,624 | |||||
Companys share of accumulated equity
|
$ | | $ | | ||||
For the |
||||||||
Year Ended |
||||||||
December 31, | ||||||||
2007 | 2006 | |||||||
Statements of Operations:
|
||||||||
Revenues from operations
|
$ | 12,219 | $ | 6,255 | ||||
Expenses:
|
||||||||
Rental operation
|
5,140 | 2,481 | ||||||
Depreciation and amortization
|
2,706 | 1,556 | ||||||
Interest
|
5,315 | 3,030 | ||||||
13,161 | 7,067 | |||||||
Net loss
|
$ | (942 | ) | $ | (812 | ) | ||
Companys share of equity in net loss of joint venture
|
$ | | $ | | ||||
F-23
4. | Acquisitions and Pro Forma Financial Information |
Land
|
$ | 478,197 | ||
Building
|
1,078,815 | |||
Tenant improvements
|
9,949 | |||
Intangible assets
|
41,673 | |||
$ | 1,608,634 | |||
F-24
For the Year Ended |
||||||||||||
December 31, |
||||||||||||
(Unaudited) | ||||||||||||
2007 | 2006 | 2005 | ||||||||||
Pro forma revenues
|
$ | 937,745 | $ | 930,814 | $ | 686,054 | ||||||
Pro forma income from continuing operations
|
$ | 146,417 | $ | 203,155 | $ | 164,348 | ||||||
Pro forma income from discontinued operations
|
$ | 20,442 | $ | 21,230 | $ | 31,706 | ||||||
Pro forma net income applicable to common shareholders
|
$ | 184,909 | $ | 244,460 | $ | 229,025 | ||||||
Per share data:
|
||||||||||||
Basic earnings per share data:
|
||||||||||||
Income from continuing operations applicable to common
shareholders
|
$ | 1.33 | $ | 1.77 | $ | 1.82 | ||||||
Income from discontinued operations
|
0.17 | 0.17 | 0.29 | |||||||||
Net income applicable to common shareholders
|
$ | 1.50 | $ | 1.94 | $ | 2.11 | ||||||
Diluted earning per share data:
|
||||||||||||
Income from continuing operations applicable to common
shareholders
|
$ | 1.32 | $ | 1.76 | $ | 1.81 | ||||||
Income from discontinued operations
|
0.16 | 0.17 | 0.29 | |||||||||
Net income applicable to common shareholders
|
$ | 1.48 | $ | 1.93 | $ | 2.10 | ||||||
F-25
Company- |
||||||||
Owned |
||||||||
Interest |
Square Feet |
|||||||
Acquired | (Thousands) | |||||||
Phoenix, Arizona
|
50% | 197 | ||||||
Pasadena, California
|
75% | 557 | ||||||
Salisbury, Maryland
|
50% | 126 | ||||||
Apex, North Carolina
|
80%/20% | 324 | ||||||
San Antonio, Texas
|
50% | Under Development | ||||||
1,204 | ||||||||
5. | Notes Receivable |
6. | Deferred Charges |
December 31, | ||||||||
2007 | 2006 | |||||||
Deferred financing costs
|
$ | 54,547 | $ | 39,748 | ||||
Less: Accumulated amortization
|
(23,375 | ) | (16,040 | ) | ||||
$ | 31,172 | $ | 23,708 | |||||
F-26
7. | Other Assets |
December 31, | ||||||||
2007 | 2006 | |||||||
Intangible assets:
|
||||||||
In-place leases (including lease origination costs and fair
market value of leases), net
|
$ | 31,201 | $ | 1,485 | ||||
Tenant relations, net
|
22,102 | 12,969 | ||||||
Total intangible assets
|
53,303 | 14,454 | ||||||
Other assets:
|
||||||||
Prepaids, deposits and other assets
|
80,191 | 65,013 | ||||||
Total other assets
|
$ | 133,494 | $ | 79,467 | ||||
8. | Revolving Credit Facilities and Term Loans |
F-27
9. | Fixed-Rate Notes |
F-28
10. | Mortgages Payable and Scheduled Principal Repayments |
Year
|
Amount | |||
2008
|
$ | 389,643 | ||
2009
|
426,091 | |||
2010
|
1,592,060 | |||
2011
|
1,502,282 | |||
2012
|
1,064,800 | |||
Thereafter
|
616,138 | |||
$ | 5,591,014 | |||
F-29
11. | Financial Instruments |
2007 | 2006 | |||||||||||||||
Carrying |
Fair |
Carrying |
Fair |
|||||||||||||
Amount | Value | Amount | Value | |||||||||||||
Senior notes
|
$ | 2,622,219 | $ | 2,450,361 | $ | 2,218,020 | $ | 2,221,553 | ||||||||
Mortgages payable and other indebtedness
|
1,459,336 | 1,501,345 | 1,333,292 | 1,347,501 | ||||||||||||
$ | 4,081,555 | $ | 3,951,706 | $ | 3,551,312 | $ | 3,569,054 | |||||||||
F-30
F-31
12. | Commitments and Contingencies |
2008
|
$ | 616,158 | ||
2009
|
569,938 | |||
2010
|
520,608 | |||
2011
|
464,610 | |||
2012
|
397,303 | |||
Thereafter
|
2,088,278 | |||
$ | 4,656,895 | |||
Operating |
Capital |
|||||||
Leases | Leases | |||||||
2008
|
$ | 5,446 | $ | 315 | ||||
2009
|
5,179 | 315 | ||||||
2010
|
4,697 | 315 | ||||||
2011
|
4,602 | 315 | ||||||
2012
|
4,133 | 350 | ||||||
Thereafter
|
149,378 | 11,933 | ||||||
$ | 173,435 | $ | 13,543 | |||||
F-32
December 31, | ||||||||
2007 | 2006 | |||||||
DDR Macquarie Fund LLC
|
$ | 0.1 | $ | 2.1 | ||||
DDR Markaz II
|
0.2 | 0.6 | ||||||
DDR MDT PS LLC
|
1.1 | 3.3 | ||||||
Dividend Capital Total Realty Trust Joint Venture
|
1.0 | | ||||||
$ | 2.4 | $ | 6.0 | |||||
F-33
13. | Minority Equity Interests, Operating Partnership Minority Interests, Preferred Shares, Common Shares and Common Shares in Treasury and Deferred Obligations |
December 31, | ||||||||
2007 | 2006 | |||||||
Mervyns Joint Venture
|
$ | 74.6 | $ | 77.6 | ||||
Shopping centers and development parcels in Arizona, Missouri,
New York, Texas and Utah
|
3.8 | 8.2 | ||||||
Business center in Massachusetts
|
20.5 | 16.5 | ||||||
Coventry I
|
| 2.3 | ||||||
ECE Joint Venture
|
12.9 | | ||||||
$ | 111.8 | $ | 104.6 | |||||
F-34
2007 | 2006 | |||||||
Class F 8.60% cumulative redeemable preferred
shares, without par value, $250 liquidation value;
750,000 shares authorized; 600,000 shares issued and
outstanding at December 31, 2006
|
$ | | $ | 150,000 | ||||
Class G 8.0% cumulative redeemable preferred
shares, without par value, $250 liquidation value;
750,000 shares authorized; 720,000 shares issued and
outstanding at December 31, 2007 and 2006
|
180,000 | 180,000 | ||||||
Class H 7.375% cumulative redeemable preferred
shares, without par value, $500 liquidation value;
410,000 shares authorized; 410,000 shares issued and
outstanding at December 31, 2007 and 2006
|
205,000 | 205,000 | ||||||
Class I 7.5% cumulative redeemable preferred
shares, without par value, $500 liquidation value;
345,000 shares authorized; 340,000 shares issued and
outstanding at December 31, 2007 and 2006
|
170,000 | 170,000 | ||||||
$ | 555,000 | $ | 705,000 | |||||
F-35
| 750,000 Class A Cumulative Redeemable Preferred Shares, without par value | |
| 750,000 Class B Cumulative Redeemable Preferred Shares, without par value | |
| 750,000 Class C Cumulative Redeemable Preferred Shares, without par value | |
| 750,000 Class D Cumulative Redeemable Preferred Shares, without par value | |
| 750,000 Class E Cumulative Redeemable Preferred Shares, without par value | |
| 750,000 Class F Cumulative Redeemable Preferred Shares, without par value | |
| 750,000 Class G Cumulative Redeemable Preferred Shares, without par value | |
| 750,000 Class H Cumulative Redeemable Preferred Shares, without par value | |
| 750,000 Class I Cumulative Redeemable Preferred Shares, without par value | |
| 750,000 Class J Cumulative Redeemable Preferred Shares, without par value | |
| 750,000 Class K Cumulative Redeemable Preferred Shares, without par value | |
| 750,000 Non Cumulative Preferred Shares, without par value |
F-36
14. | Other Income |
For the Year Ended December 31, | ||||||||||||
2007 | 2006 | 2005 | ||||||||||
Lease terminations and bankruptcy settlements
|
$ | 4,989 | $ | 13,989 | $ | 5,078 | ||||||
Acquisition and financing fees (1)
|
7,881 | 414 | 2,424 | |||||||||
Other, net
|
855 | 454 | 960 | |||||||||
Total other income
|
$ | 13,725 | $ | 14,857 | $ | 8,462 | ||||||
(1) | Includes acquisition fees of $6.3 million earned from the formation of the TIAA-CREF Joint Venture in February 2007, excluding the Companys retained ownership interest of approximately 15%. The Companys fees were earned in conjunction with services rendered by the Company in connection with the acquisition of the IRRETI real estate assets. Financing fees were earned in connection with the formation and refinancing of unconsolidated joint ventures, excluding the Companys retained ownership interest. The Companys fees are earned in conjunction with the closing and amount of the financing transaction by the joint venture. |
15. | Comprehensive Income |
For the Year Ended December 31, | ||||||||||||
2007 | 2006 | 2005 | ||||||||||
Net income
|
$ | 276,047 | $ | 253,264 | $ | 282,643 | ||||||
Other comprehensive income:
|
||||||||||||
Change in fair value of interest rate contracts
|
(20,126 | ) | (2,729 | ) | 10,619 | |||||||
Amortization of interest rate contracts
|
(1,454 | ) | (1,454 | ) | (520 | ) | ||||||
Foreign currency translation
|
22,716 | 1,587 | | |||||||||
Other comprehensive income
|
1,136 | (2,596 | ) | 10,099 | ||||||||
Total comprehensive income
|
$ | 277,183 | $ | 250,668 | $ | 292,742 | ||||||
16. | Discontinued Operations and Disposition of Real Estate and Real Estate Investments |
F-37
December 31, | ||||||||
2007 | 2006 | |||||||
Land
|
$ | 3,365 | $ | 685 | ||||
Building
|
2,494 | 7,679 | ||||||
Other real estate assets
|
4 | 194 | ||||||
5,863 | 8,558 | |||||||
Less: Accumulated depreciation
|
(67 | ) | (3,326 | ) | ||||
5,796 | 5,232 | |||||||
Other assets
|
| 92 | ||||||
Total assets held for sale
|
$ | 5,796 | $ | 5,324 | ||||
For the Year Ended December 31, | ||||||||||||
2007 | 2006 | 2005 | ||||||||||
Revenues
|
$ | 28,839 | $ | 49,402 | $ | 70,462 | ||||||
Expenses:
|
||||||||||||
Operating
|
8,206 | 13,407 | 22,086 | |||||||||
Impairment charge
|
| | 642 | |||||||||
Interest, net
|
7,176 | 14,295 | 15,531 | |||||||||
Depreciation
|
5,274 | 11,521 | 17,097 | |||||||||
Minority interests
|
| | 67 | |||||||||
20,656 | 39,223 | 55,423 | ||||||||||
Income from discontinued operations
|
8,183 | 10,179 | 15,039 | |||||||||
Gain on disposition of real estate, net of tax
|
12,259 | 11,051 | 16,667 | |||||||||
$ | 20,442 | $ | 21,230 | $ | 31,706 | |||||||
Number of |
Gain on |
|||||||
Properties |
Disposition of |
|||||||
Sold | Real Estate | |||||||
2007
|
67 | $ | 12.3 | |||||
2006
|
6 | 11.1 | ||||||
2005
|
35 | 16.7 |
F-38
For the Year Ended December 31, | ||||||||||||
2007 | 2006 | 2005 | ||||||||||
Transfer of assets to DDR Domestic Retail Fund I (1)(2)
|
$ | 1.8 | $ | | $ | | ||||||
Transfer of assets to Dividend Capital Total Realty
Trust Joint Venture (1)(3)
|
50.3 | | | |||||||||
Transfer of assets to DPG Realty Holdings LLC (1)(4)
|
| 0.6 | | |||||||||
Transfer of assets to DDR Macquarie Fund LLC (1)(5)
|
| 9.2 | 81.2 | |||||||||
Transfer of assets to DDR MDT PS LLC (1)(6)
|
| 38.9 | | |||||||||
Transfer of assets to Service Holdings LLC (1)(7)
|
| 6.1 | ||||||||||
Land sales (8)
|
14.0 | 14.8 | 6.0 | |||||||||
Previously deferred gains and other gains and losses on
dispositions (9)
|
2.8 | 2.4 | 0.9 | |||||||||
$ | 68.9 | $ | 72.0 | $ | 88.1 | |||||||
(1) | This disposition is not classified as discontinued operations due to the Companys continuing involvement through its retained ownership interest and management agreements. | |
(2) | The Company transferred two wholly-owned assets. The Company did not record a gain on the contribution of 54 assets, as these assets were recently acquired through the merger with IRRETI. | |
(3) | The Company transferred three recently developed assets. | |
(4) | The Company transferred a newly developed expansion area adjacent to a shopping center owned by the joint venture. | |
(5) | The Company transferred three assets in 2007, newly developed expansion areas adjacent to four shopping centers owned by the joint venture in 2006 and 12 assets in 2005. The Company did not record a gain on the contribution of three assets in 2007, as these assets were recently acquired through the merger with IRRETI. | |
(6) | The Company transferred six recently developed assets. | |
(7) | The Company transferred 51 retail sites previously occupied by Service Merchandise. | |
(8) | These dispositions did not meet the criteria for discontinued operations as the land did not have any significant operations prior to disposition. | |
(9) | These gains and losses are primarily attributable to the subsequent leasing of units related to master lease and other obligations originally established on disposed properties, which are no longer required. |
17. | Transactions With Related Parties |
F-39
18. | Benefit Plans |
For the Year Ended December 31, | ||||||
2007 | 2006 | 2005 | ||||
Weighted average fair value of grants
|
$9.76 | $6.50 | $4.52 | |||
Risk-free interest rate (range)
|
4.1% - 4.8% | 4.4% - 5.1% | 3.2% - 4.3% | |||
Dividend yield (range)
|
4.0% - 4.9% | 4.2% - 5.0% | 4.6% - 5.4% | |||
Expected life (range)
|
3 - 5 years | 3 - 4 years | 3 - 6 years | |||
Expected volatility (range)
|
19.2% - 20.3% | 19.8% - 20.3% | 19.8% - 22.9% |
F-40
Weighted- |
||||||||||||||||||||
Weighted- |
Average |
|||||||||||||||||||
Average |
Remaining |
Aggregate |
||||||||||||||||||
Number of Options |
Exercise |
Contractual |
Intrinsic |
|||||||||||||||||
Employees | Directors | Price | Term | Value | ||||||||||||||||
Balance December 31, 2004
|
1,976 | 88 | $ | 25.66 | ||||||||||||||||
Granted
|
622 | | 41.96 | |||||||||||||||||
Exercised
|
(639 | ) | (26 | ) | 20.00 | |||||||||||||||
Forfeited
|
(56 | ) | | 34.76 | ||||||||||||||||
Balance December 31, 2005
|
1,903 | 62 | $ | 32.46 | ||||||||||||||||
Granted
|
302 | | 51.19 | |||||||||||||||||
Exercised
|
(679 | ) | (20 | ) | 29.31 | |||||||||||||||
Forfeited
|
(41 | ) | | 42.85 | ||||||||||||||||
Balance December 31, 2006
|
1,485 | 42 | $ | 37.28 | ||||||||||||||||
Granted
|
341 | | 65.54 | |||||||||||||||||
Exercised
|
(148 | ) | | 32.22 | ||||||||||||||||
Forfeited
|
(25 | ) | | 47.21 | ||||||||||||||||
Balance December 31, 2007
|
1,653 | 42 | $ | 43.37 | 6.8 | $ | 5,706 | |||||||||||||
Options exercisable at December 31,
|
||||||||||||||||||||
2007
|
1,003 | 42 | $ | 35.67 | 5.7 | $ | 5,706 | |||||||||||||
2006
|
616 | 42 | 28.75 | 6.1 | 22,517 | |||||||||||||||
2005
|
635 | 62 | 25.22 | 6.2 | 15,198 |
Options Outstanding | Options Exercisable | |||||||||||||||||||
Weighted- |
||||||||||||||||||||
Outstanding |
Average |
Weighted- |
Weighted- |
|||||||||||||||||
Range of |
as of |
Remaining |
Average |
Exercisable as |
Average |
|||||||||||||||
Exercise Prices
|
12/31/07 | Contractual Life | Exercise Price | of 12/31/07 | Exercise price | |||||||||||||||
$11.50-$13.76
|
23 | 2.5 | $ | 13.15 | 23 | $ | 13.15 | |||||||||||||
$13.77-$20.63
|
57 | 3.6 | 19.60 | 57 | 19.60 | |||||||||||||||
$20.64-$27.51
|
197 | 4.4 | 22.70 | 197 | 22.70 | |||||||||||||||
$27.52-$34.38
|
42 | 5.8 | 29.59 | 42 | 29.59 | |||||||||||||||
$34.39-$41.27
|
333 | 5.9 | 36.44 | 330 | 36.40 | |||||||||||||||
$41.28-$48.15
|
429 | 6.9 | 41.83 | 265 | 41.68 | |||||||||||||||
$48.16-$55.02
|
264 | 7.8 | 50.98 | 103 | 50.89 | |||||||||||||||
$55.03-$61.90
|
21 | 9.0 | 56.15 | 5 | 55.76 | |||||||||||||||
$61.91-$68.78
|
329 | 8.8 | 65.79 | 23 | 66.75 | |||||||||||||||
1,695 | 6.8 | $ | 43.37 | 1,045 | $ | 35.67 | ||||||||||||||
F-41
Weighted |
||||||||
Average |
||||||||
Grant Date |
||||||||
Options | Fair Value | |||||||
Unvested at December 31, 2006
|
869 | $ | 5.42 | |||||
Granted
|
341 | 9.75 | ||||||
Vested
|
(545 | ) | 5.36 | |||||
Forfeited
|
(15 | ) | 6.10 | |||||
Unvested at December 31, 2007
|
650 | $ | 7.73 | |||||
Weighted |
||||||||
Average |
||||||||
Grant Date |
||||||||
Awards | Fair Value | |||||||
Unvested at December 31, 2006
|
162 | $ | 41.04 | |||||
Granted
|
89 | 66.15 | ||||||
Vested
|
(105 | ) | 44.19 | |||||
Unvested at December 31, 2007
|
146 | $ | 54.47 | |||||
F-42
Range | ||
Risk-free interest rate
|
4.4%-6.4% | |
Dividend yield
|
7.8%-10.9% | |
Expected life
|
10 years | |
Expected volatility
|
20%-23% |
Awards | ||||
Unvested at December 31, 2006
|
136 | |||
Granted
|
466 | |||
Vested
|
(217 | ) | ||
Unvested at December 31, 2007
|
385 | |||
F-43
Range | ||
Risk-free interest rate
|
4.4%-5.0% | |
Dividend yield
|
4.4%-4.5% | |
Expected life
|
3-5 years | |
Expected volatility
|
19%-21% |
F-44
Range | ||
Risk-free interest rate
|
3.4% | |
Dividend yield
|
5.9% | |
Expected life
|
5 years | |
Expected volatility
|
21% |
F-45
F-46
19. | Earnings and Dividends Per Share |
For the Year Ended December 31, |
||||||||||||
(In thousands, except per share amounts) | ||||||||||||
2007 | 2006 | 2005 | ||||||||||
Income from continuing operations
|
$ | 186,754 | $ | 160,011 | $ | 162,797 | ||||||
Plus: Gain on disposition of real estate and real estate
investments
|
68,851 | 72,023 | 88,140 | |||||||||
Less: Preferred stock dividends
|
(50,934 | ) | (55,169 | ) | (55,169 | ) | ||||||
Basic and Diluted Income from continuing operations
applicable to common shareholders
|
$ | 204,671 | $ | 176,865 | $ | 195,768 | ||||||
Number of Shares:
|
||||||||||||
Basic Average shares outstanding
|
120,879 | 109,002 | 108,310 | |||||||||
Effect of dilutive securities:
|
||||||||||||
Stock options
|
456 | 546 | 677 | |||||||||
Operating partnership minority interests
|
| | | |||||||||
Restricted stock
|
162 | 65 | 155 | |||||||||
Diluted Average shares outstanding
|
121,497 | 109,613 | 109,142 | |||||||||
Per share data:
|
||||||||||||
Basic earnings per share data:
|
||||||||||||
Income from continuing operations applicable to common
shareholders
|
$ | 1.69 | $ | 1.63 | $ | 1.81 | ||||||
Income from discontinued operations
|
0.17 | 0.19 | 0.29 | |||||||||
Net income applicable to common shareholders
|
$ | 1.86 | $ | 1.82 | $ | 2.10 | ||||||
Diluted earnings per share data:
|
||||||||||||
Income from continuing operations applicable to common
shareholders
|
$ | 1.68 | $ | 1.62 | $ | 1.79 | ||||||
Income from discontinued operations
|
0.17 | 0.19 | 0.29 | |||||||||
Net income applicable to common shareholders
|
$ | 1.85 | $ | 1.81 | $ | 2.08 | ||||||
F-47
20. | Federal Income Taxes |
For the Year Ended December 31, | ||||||||||||
2007 | 2006 | 2005 | ||||||||||
Book income (loss) before income taxes
|
$ | 47,315 | $ | 7,770 | $ | (5,166 | ) | |||||
Components of income tax (benefit) expense are as follows:
|
||||||||||||
Current:
|
||||||||||||
Federal
|
$ | 1,188 | $ | 3,410 | $ | | ||||||
State and local
|
1,759 | 490 | | |||||||||
2,947 | 3,900 | | ||||||||||
Deferred:
|
||||||||||||
Federal
|
(12,962 | ) | (6,428 | ) | (1,875 | ) | ||||||
State and local
|
(1,939 | ) | (945 | ) | (276 | ) | ||||||
(14,901 | ) | (7,373 | ) | (2,151 | ) | |||||||
Total benefit
|
$ | (11,954 | ) | $ | (3,473 | ) | $ | (2,151 | ) | |||
F-48
For the Year Ended December 31, | ||||||||||||
2007 | 2006 | 2005 | ||||||||||
Statutory rate of 34% applied to pre-tax income (loss)
|
$ | 16,087 | $ | 2,642 | $ | (1,757 | ) | |||||
Effect of state and local income taxes, net of federal tax
benefit
|
2,366 | 388 | (258 | ) | ||||||||
Valuation allowance (decrease) increase
|
(22,180 | ) | (13,043 | ) | 2,855 | |||||||
Other
|
(8,227 | ) | 6,540 | (2,991 | ) | |||||||
Total benefit
|
$ | (11,954 | ) | $ | (3,473 | ) | $ | (2,151 | ) | |||
Effective tax rate
|
(25.27 | )% | (44.70 | )% | 41.64 | % | ||||||
For the Year Ended December 31, | ||||||||||||
2007 | 2006 | 2005 | ||||||||||
Deferred tax assets (1)
|
$ | 41,825 | $ | 45,100 | $ | 53,394 | ||||||
Deferred tax liabilities
|
(688 | ) | (237 | ) | (2,861 | ) | ||||||
Valuation allowance (1)
|
(17,410 | ) | (36,037 | ) | (49,080 | ) | ||||||
Net deferred tax asset
|
$ | 23,727 | $ | 8,826 | $ | 1,453 | ||||||
(1) | The majority of the deferred tax assets and valuation allowance is attributable to interest expense, subject to limitations and basis differentials in assets due to purchase price accounting. |
F-49
For the Year Ended December 31, | ||||||||||||
2007 | 2006 | 2005 | ||||||||||
GAAP net income
|
$ | 276,047 | $ | 253,264 | $ | 282,643 | ||||||
Plus: Book depreciation and amortization (1)
|
112,202 | 93,189 | 64,854 | |||||||||
Less: Tax depreciation and amortization (1)
|
(99,894 | ) | (80,852 | ) | (52,362 | ) | ||||||
Book/tax differences on gains/losses from capital transactions
|
12,384 | 12,161 | (4,382 | ) | ||||||||
Joint venture equity in earnings, net (1)
|
(4,321 | ) | (41,695 | ) | (111,351 | ) | ||||||
Dividends from subsidiary REIT investments
|
32,281 | 33,446 | 96,868 | |||||||||
Deferred income
|
9,471 | (2,136 | ) | 1,495 | ||||||||
Compensation expense
|
8,818 | (9,215 | ) | (10,589 | ) | |||||||
Miscellaneous book/tax differences, net
|
(20,950 | ) | (6,068 | ) | (12,186 | ) | ||||||
Taxable income before adjustments
|
326,038 | 252,094 | 254,990 | |||||||||
Less: Capital gains
|
(116,108 | ) | (69,977 | ) | (84,041 | ) | ||||||
Taxable income subject to the 90% dividend requirement
|
$ | 209,930 | $ | 182,117 | $ | 170,949 | ||||||
(1) | Depreciation expense from majority-owned subsidiaries and affiliates, which are consolidated for financial reporting purposes, but not for tax reporting purposes, is included in the reconciliation item Joint venture equity in earnings, net. |
For the Year Ended December 31, | ||||||||||||
2007 | 2006 | 2005 | ||||||||||
Cash dividends paid
|
$ | 353,094 | $ | 306,929 | $ | 285,710 | ||||||
Less: Dividends designated to prior year
|
(6,967 | ) | (6,900 | ) | (14,651 | ) | ||||||
Plus: Dividends designated from the following year
|
6,967 | 6,900 | 6,900 | |||||||||
Less: Portion designated capital gain distribution
|
(116,108 | ) | (69,977 | ) | (84,041 | ) | ||||||
Less: Return of capital
|
(27,056 | ) | (54,835 | ) | (22,969 | ) | ||||||
Dividends paid deduction
|
$ | 209,930 | $ | 182,117 | $ | 170,949 | ||||||
For the Year Ended December 31, | ||||||||||||
2007 | 2006 | 2005 | ||||||||||
Ordinary income
|
$ | 1.51 | $ | 1.31 | $ | 1.24 | ||||||
Capital gains
|
0.83 | 0.50 | 0.61 | |||||||||
Return of capital
|
0.23 | 0.50 | 0.21 | |||||||||
$ | 2.57 | $ | 2.31 | $ | 2.06 | |||||||
F-50
Gross |
||||||||||||||||||||
2007 |
Date |
Ordinary |
Capital Gain |
Return of |
Total |
|||||||||||||||
Dividends
|
Paid | Income | Distributions | Capital | Dividends | |||||||||||||||
4th quarter 2006
|
01/08/07 | $ | 0.34 | $ | 0.20 | $ | 0.05 | $ | 0.59 | |||||||||||
1st quarter
|
04/09/07 | 0.39 | 0.21 | 0.06 | 0.66 | |||||||||||||||
2nd quarter
|
07/03/07 | 0.39 | 0.21 | 0.06 | 0.66 | |||||||||||||||
3rd quarter
|
10/02/07 | 0.39 | 0.21 | 0.06 | 0.66 | |||||||||||||||
4th quarter
|
01/08/08 | | | | | |||||||||||||||
$ | 1.51 | $ | 0.83 | $ | 0.23 | $ | 2.57 | |||||||||||||
Gross |
||||||||||||||||||||
2006 |
Date |
Ordinary |
Capital Gain |
Return of |
Total |
|||||||||||||||
Dividends
|
Paid | Income | Distributions | Capital | Dividends | |||||||||||||||
4th quarter 2005
|
01/08/06 | $ | 0.30 | $ | 0.12 | $ | 0.12 | $ | 0.54 | |||||||||||
1st quarter
|
04/03/06 | 0.33 | 0.13 | 0.13 | 0.59 | |||||||||||||||
2nd quarter
|
07/05/06 | 0.34 | 0.12 | 0.13 | 0.59 | |||||||||||||||
3rd quarter
|
10/02/06 | 0.34 | 0.13 | 0.12 | 0.59 | |||||||||||||||
4th quarter
|
01/08/07 | | | | | |||||||||||||||
$ | 1.31 | $ | 0.50 | $ | 0.50 | $ | 2.31 | |||||||||||||
Gross |
||||||||||||||||||||
2005 |
Date |
Ordinary |
Capital Gain |
Return of |
Total |
|||||||||||||||
Dividends
|
Paid | Income | Distributions | Capital | Dividends | |||||||||||||||
4th quarter 2004
|
01/06/05 | $ | 0.26 | $ | 0.13 | $ | 0.05 | $ | 0.44 | |||||||||||
1st quarter
|
04/04/05 | 0.32 | 0.16 | 0.06 | 0.54 | |||||||||||||||
2nd quarter
|
07/05/05 | 0.33 | 0.16 | 0.05 | 0.54 | |||||||||||||||
3rd quarter
|
10/03/05 | 0.33 | 0.16 | 0.05 | 0.54 | |||||||||||||||
4th quarter
|
01/08/06 | | | | | |||||||||||||||
$ | 1.24 | $ | 0.61 | $ | 0.21 | $ | 2.06 | |||||||||||||
21. | Segment Information |
F-51
2007 | ||||||||||||||||
Business |
Shopping |
|||||||||||||||
Centers | Centers | Other | Total | |||||||||||||
Total revenues
|
$ | 7,173 | $ | 937,678 | $ | 944,851 | ||||||||||
Operating expenses
|
(2,993 | ) | (239,318 | ) | (242,311 | ) | ||||||||||
4,180 | 698,360 | 702,540 | ||||||||||||||
Unallocated expenses (1)
|
$ | (541,232 | ) | (541,232 | ) | |||||||||||
Equity in net income of
joint ventures
|
43,229 | 43,229 | ||||||||||||||
Minority equity interests
|
(17,783 | ) | (17,783 | ) | ||||||||||||
Income from continuing operations
|
$ | 186,754 | ||||||||||||||
Total real estate assets
|
$ | 101,989 | $ | 8,882,749 | $ | 8,984,738 | ||||||||||
2006 | ||||||||||||||||
Business |
Shopping |
|||||||||||||||
Centers | Centers | Other | Total | |||||||||||||
Total revenues
|
$ | 4,386 | $ | 770,938 | $ | 775,324 | ||||||||||
Operating expenses
|
(1,999 | ) | (195,104 | ) | (197,103 | ) | ||||||||||
2,387 | 575,834 | 578,221 | ||||||||||||||
Unallocated expenses (1)
|
$ | (440,094 | ) | (440,094 | ) | |||||||||||
Equity in net income of
joint ventures
|
30,337 | 30,337 | ||||||||||||||
Minority equity interests
|
(8,453 | ) | (8,453 | ) | ||||||||||||
Income from continuing operations
|
$ | 160,011 | ||||||||||||||
Total real estate assets
|
$ | 90,772 | $ | 7,359,921 | $ | 7,450,693 | ||||||||||
2005 | ||||||||||||||||
Business |
Shopping |
|||||||||||||||
Centers | Centers | Other | Total | |||||||||||||
Total revenues
|
$ | 7,077 | $ | 671,032 | $ | 678,109 | ||||||||||
Operating expenses
|
(1,801 | ) | (169,459 | ) | (171,260 | ) | ||||||||||
5,276 | 501,573 | 506,849 | ||||||||||||||
Unallocated expenses (1)
|
$ | (371,044 | ) | (371,044 | ) | |||||||||||
Equity in net income of
joint ventures
|
34,873 | 34,873 | ||||||||||||||
Minority equity interests
|
(7,881 | ) | (7,881 | ) | ||||||||||||
Income from continuing operations
|
$ | 162,797 | ||||||||||||||
Total real estate assets
|
$ | 86,374 | $ | 6,942,963 | $ | 7,029,337 | ||||||||||
(1) | Unallocated expenses consist of general and administrative, interest income, interest expense, other income/expense, tax benefit/expense and depreciation and amortization as listed in the consolidated statements of operations. |
F-52
22. | Subsequent Events |
23. | Quarterly Results of Operations (Unaudited) |
First | Second | Third | Fourth | Total | ||||||||||||||||
2007
|
||||||||||||||||||||
Revenues
|
$ | 219,118 | $ | 252,744 | $ | 233,796 | $ | 239,193 | $ | 944,851 | ||||||||||
Net income
|
62,536 | 127,437 | 43,283 | 42,791 | 276,047 | |||||||||||||||
Net income applicable to common shareholders
|
48,744 | 111,429 | 32,716 | 32,224 | 255,113 | |||||||||||||||
Basic:
|
||||||||||||||||||||
Net income per common share
|
$ | 0.42 | $ | 0.90 | $ | 0.27 | $ | 0.27 | $ | 1.86 | ||||||||||
Weighted average number of shares
|
114,851 | 124,455 | 123,329 | 120,786 | 120,879 | |||||||||||||||
Diluted:
|
||||||||||||||||||||
Net income per common share
|
$ | 0.42 | $ | 0.89 | $ | 0.26 | $ | 0.27 | $ | 1.85 | ||||||||||
Weighted average number of shares
|
115,661 | 125,926 | 123,727 | 121,103 | 121,497 | |||||||||||||||
2006
|
||||||||||||||||||||
Revenues
|
$ | 189,795 | $ | 187,826 | $ | 194,138 | $ | 203,565 | $ | 775,324 | ||||||||||
Net income
|
49,727 | 78,736 | 62,812 | 61,989 | 253,264 | |||||||||||||||
Net income applicable to common shareholders
|
35,935 | 64,943 | 49,020 | 48,197 | 198,095 | |||||||||||||||
Basic:
|
||||||||||||||||||||
Net income per common share
|
$ | 0.33 | $ | 0.59 | $ | 0.45 | $ | 0.44 | $ | 1.82 | ||||||||||
Weighted average number of shares
|
108,962 | 109,393 | 109,120 | 108,638 | 109,002 | |||||||||||||||
Diluted:
|
||||||||||||||||||||
Net income per common share
|
$ | 0.33 | $ | 0.59 | $ | 0.45 | $ | 0.44 | $ | 1.81 | ||||||||||
Weighted average number of shares
|
109,609 | 110,866 | 109,670 | 109,308 | 109,613 |
F-53
SCHEDULE II |
Balance at |
Charged to |
|||||||||||||||
Beginning of |
(Income) |
Balance at |
||||||||||||||
Year | Expense | Deductions | End of Year | |||||||||||||
Year ended December 31, 2007
|
||||||||||||||||
Allowance for uncollectible accounts
|
$ | 18,024 | $ | 9,133 | $ | (7,006 | )* | $ | 34,163 | |||||||
Valuation allowance for a deferred tax asset
|
$ | 36,037 | $ | (22,180 | ) | $ | (3,553 | ) | $ | 17,410 | ||||||
Year ended December 31, 2006
|
||||||||||||||||
Allowance for uncollectible accounts
|
$ | 21,408 | $ | 7,498 | $ | 10,882 | $ | 18,024 | ||||||||
Valuation allowance for a deferred tax asset
|
$ | 49,080 | $ | (13,043 | ) | $ | | $ | 36,037 | |||||||
Year ended December 31, 2005
|
||||||||||||||||
Allowance for uncollectible accounts
|
$ | 14,192 | $ | 8,170 | $ | 954 | $ | 21,408 | ||||||||
Valuation allowance for a deferred tax asset
|
$ | 46,225 | $ | 2,855 | $ | | $ | 49,080 | ||||||||
F-54
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation |
||||||||||||||||||||||||||||||||||||||||||||
December 31, 2007 |
Total |
Date |
||||||||||||||||||||||||||||||||||||||||||
(In thousands) |
Cost, |
of |
||||||||||||||||||||||||||||||||||||||||||
Initial Cost | Total Cost (B) |
Net |
Depreciable |
Construction |
||||||||||||||||||||||||||||||||||||||||
Buildings |
Buildings |
of |
Lives |
(C) |
||||||||||||||||||||||||||||||||||||||||
& |
& |
Accumulated |
Accumulated |
(Years) |
Acquisition |
|||||||||||||||||||||||||||||||||||||||
Land | Improvements | Improvements | Land | Improvements | Total | Depreciation | Depreciation | Encumbrances | (1) | (A) | ||||||||||||||||||||||||||||||||||
Brandon, FL
|
$ | 0 | $ | 4,111 | $ | 0 | $ | 0 | $ | 6,363 | $ | 6,363 | $ | 4,793 | $ | 1,570 | $ | 0 | S/L 30.0 | 1972(C) | ||||||||||||||||||||||||
Stow, OH
|
1,036 | 9,028 | 0 | 993 | 23,337 | 24,330 | 9,968 | 14,361 | 0 | S/L 30.0 | 1969(C) | |||||||||||||||||||||||||||||||||
Westlake, OH
|
424 | 3,803 | 203 | 424 | 10,007 | 10,431 | 5,351 | 5,080 | 0 | S/L 30.0 | 1974(C) | |||||||||||||||||||||||||||||||||
E. Norrition, PA
|
80 | 4,698 | 233 | 70 | 8,739 | 8,809 | 6,034 | 2,775 | 0 | S/L 30.0 | 1975(C) | |||||||||||||||||||||||||||||||||
Palm Harbor, FL
|
1,137 | 4,089 | 0 | 1,137 | 4,162 | 5,299 | 1,708 | 3,591 | 0 | S/L 31.5 | 1995(A) | |||||||||||||||||||||||||||||||||
Tarpon Springs, FL
|
248 | 7,382 | 81 | 244 | 11,892 | 12,136 | 8,918 | 3,218 | 0 | S/L 30.0 | 1974(C) | |||||||||||||||||||||||||||||||||
Bayonet Pt., FL
|
2,113 | 8,181 | 128 | 1,806 | 11,629 | 13,435 | 6,898 | 6,536 | 0 | S/L 30.0 | 1985(C) | |||||||||||||||||||||||||||||||||
McHenry, IL
|
963 | 3,949 | 0 | 8,907 | 34,234 | 43,141 | 749 | 42,392 | 0 | S/L 31.5 | 2006(C) | |||||||||||||||||||||||||||||||||
Miami, FL
|
11,626 | 30,457 | 0 | 24,539 | 78,188 | 102,727 | 2,309 | 100,418 | 0 | S/L 31.5 | 2006(C) | |||||||||||||||||||||||||||||||||
San Antonio, TX (Village)
|
3,370 | 21,033 | 0 | 3,370 | 21,250 | 24,620 | 115 | 24,505 | 0 | S/L 31.5 | 2007(C) | |||||||||||||||||||||||||||||||||
Starkville, MS
|
1,271 | 8,209 | 0 | 703 | 6,526 | 7,229 | 2,473 | 4,756 | 0 | S/L 31.5 | 1994(A) | |||||||||||||||||||||||||||||||||
Gulfport, MS
|
8,795 | 36,370 | 0 | 0 | 47,863 | 47,863 | 7,141 | 40,722 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Tupelo, MS
|
2,282 | 14,979 | 0 | 2,213 | 17,512 | 19,725 | 6,888 | 12,837 | 10,852 | S/L 31.5 | 1994(A) | |||||||||||||||||||||||||||||||||
Jacksonville, FL
|
3,005 | 9,425 | 0 | 3,028 | 9,907 | 12,935 | 4,066 | 8,869 | 6,227 | S/L 31.5 | 1995(A) | |||||||||||||||||||||||||||||||||
Long Beach, CA (Pike)
|
0 | 111,512 | 0 | 0 | 131,567 | 131,567 | 14,633 | 116,934 | 0 | S/L 31.5 | 2005(C) | |||||||||||||||||||||||||||||||||
Brunswick, MA
|
3,836 | 15,459 | 0 | 3,796 | 19,326 | 23,122 | 6,312 | 16,810 | 0 | S/L 30.0 | 1973(C) | |||||||||||||||||||||||||||||||||
Oceanside, CA
|
0 | 10,643 | 0 | 0 | 14,175 | 14,175 | 3,013 | 11,162 | 0 | S/L 31.5 | 2000(C) | |||||||||||||||||||||||||||||||||
Reno, NV
|
0 | 366 | 0 | 1,132 | 4,699 | 5,831 | 476 | 5,355 | 3,393 | S/L 31.5 | 2000(C) | |||||||||||||||||||||||||||||||||
Everett, MA
|
9,311 | 44,647 | 0 | 9,340 | 49,568 | 58,908 | 10,087 | 48,821 | 0 | S/L 31.5 | 2001(C) | |||||||||||||||||||||||||||||||||
Pasadena, CA
|
47,215 | 101,475 | 2,053 | 47,360 | 104,759 | 152,119 | 7,059 | 145,060 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Salisbury, MD
|
1,531 | 9,174 | 174 | 1,531 | 9,391 | 10,922 | 2,492 | 8,431 | 0 | S/L 31.5 | 1999(C) | |||||||||||||||||||||||||||||||||
Salisbury, MD
|
539 | 3,321 | 104 | 540 | 3,433 | 3,973 | 219 | 3,754 | 0 | S/L 31.5 | 1999(C) | |||||||||||||||||||||||||||||||||
Atlanta, GA
|
475 | 9,374 | 0 | 475 | 10,008 | 10,483 | 4,482 | 6,001 | 0 | S/L 31.5 | 1994(A) | |||||||||||||||||||||||||||||||||
Jackson, MS
|
4,190 | 6,783 | 0 | 4,190 | 6,838 | 11,028 | 1,111 | 9,917 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Gadsen, AL
|
322 | 965 | 0 | 322 | 2,208 | 2,530 | 919 | 1,610 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Opelika, AL
|
3,183 | 11,666 | 0 | 2,415 | 15,668 | 18,083 | 2,511 | 15,573 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Scottsboro, AL
|
788 | 2,781 | 0 | 788 | 2,793 | 3,581 | 451 | 3,130 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Gulf Breeze, FL
|
2,485 | 2,214 | 0 | 2,485 | 2,239 | 4,724 | 368 | 4,356 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Apex, NC (South)
|
9,576 | 43,619 | 0 | 10,521 | 46,849 | 57,370 | 1,984 | 55,387 | 0 | S/L 31.5 | 2006(C) | |||||||||||||||||||||||||||||||||
Ocala, FL
|
1,916 | 3,893 | 0 | 1,916 | 6,003 | 7,919 | 755 | 7,164 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Tallahassee, FL
|
1,881 | 2,956 | 0 | 1,881 | 6,553 | 8,434 | 786 | 7,648 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Chamblee, GA
|
5,862 | 5,971 | 0 | 5,862 | 6,276 | 12,138 | 1,103 | 11,035 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Cumming, GA (Marketplace)
|
14,255 | 23,653 | 0 | 14,249 | 23,848 | 38,097 | 3,843 | 34,254 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Douglasville, GA
|
3,856 | 9,625 | 0 | 3,540 | 9,723 | 13,263 | 1,602 | 11,662 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Athens, GA
|
1,649 | 2,084 | 0 | 1,477 | 2,092 | 3,569 | 338 | 3,230 | 0 | S/L 31.5 | 2003(A) |
F-55
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation
(continued) |
||||||||||||||||||||||||||||||||||||||||||||
December 31, 2007 |
Total |
Date |
||||||||||||||||||||||||||||||||||||||||||
(In thousands) |
Cost, |
of |
||||||||||||||||||||||||||||||||||||||||||
Initial Cost | Total Cost (B) |
Net |
Depreciable |
Construction |
||||||||||||||||||||||||||||||||||||||||
Buildings |
Buildings |
of |
Lives |
(C) |
||||||||||||||||||||||||||||||||||||||||
& |
& |
Accumulated |
Accumulated |
(Years) |
Acquisition |
|||||||||||||||||||||||||||||||||||||||
Land | Improvements | Improvements | Land | Improvements | Total | Depreciation | Depreciation | Encumbrances | (1) | (A) | ||||||||||||||||||||||||||||||||||
Griffin, GA
|
138 | 2,638 | 0 | 138 | 2,699 | 2,837 | 430 | 2,407 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Columbus, GA
|
4,220 | 8,159 | 0 | 4,220 | 8,392 | 12,612 | 1,358 | 11,254 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Newnan, GA
|
2,632 | 11,063 | 0 | 2,620 | 11,592 | 14,212 | 1,800 | 12,413 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Union City, GA
|
2,288 | 6,246 | 0 | 2,288 | 7,109 | 9,397 | 1,140 | 8,258 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Warner Robins, GA
|
5,977 | 7,459 | 0 | 5,729 | 7,605 | 13,334 | 1,224 | 12,110 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Woodstock, GA
|
2,022 | 8,440 | 0 | 2,022 | 8,456 | 10,478 | 1,353 | 9,125 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Fayetteville, NC
|
8,524 | 10,627 | 0 | 8,524 | 11,161 | 19,685 | 1,755 | 17,930 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Charleston, SC
|
3,479 | 9,850 | 0 | 3,479 | 10,022 | 13,501 | 1,596 | 11,905 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Denver, CO (University)
|
20,733 | 22,818 | 0 | 20,804 | 23,686 | 44,490 | 3,849 | 40,642 | 27,195 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Chattanooga, TN
|
1,845 | 13,214 | 0 | 1,845 | 15,301 | 17,146 | 2,506 | 14,640 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Hendersonville, TN
|
3,743 | 9,268 | 0 | 3,607 | 9,335 | 12,942 | 1,492 | 11,451 | 8,150 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Johnson City, TN
|
124 | 521 | 0 | 0 | 2,074 | 2,074 | 93 | 1,981 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Chester, VA
|
10,780 | 4,752 | 0 | 10,780 | 4,991 | 15,771 | 888 | 14,882 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Lynchburg,VA
|
5,447 | 11,194 | 0 | 5,447 | 12,354 | 17,801 | 2,003 | 15,798 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Brookfield, WI
|
588 | 0 | 0 | 588 | 2,746 | 3,334 | 70 | 3,264 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Milwaukee, WI
|
4,527 | 3,600 | 0 | 4,527 | 4,800 | 9,327 | 642 | 8,685 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Gallipolis, OH
|
1,249 | 1,790 | 0 | 1,249 | 1,797 | 3,046 | 292 | 2,754 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Lexington, KY (South)
|
3,344 | 2,805 | 0 | 3,344 | 2,805 | 6,149 | 462 | 5,686 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Lexington, KY (North)
|
2,915 | 3,447 | 0 | 2,919 | 3,215 | 6,134 | 592 | 5,542 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Richmond, KY
|
1,870 | 5,661 | 0 | 1,870 | 6,163 | 8,033 | 940 | 7,093 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Allentown, PA
|
5,882 | 20,060 | 0 | 5,882 | 22,754 | 28,636 | 3,291 | 25,345 | 16,664 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
St. John, MO
|
2,613 | 7,040 | 0 | 2,827 | 7,888 | 10,715 | 1,155 | 9,560 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Suwanee, GA
|
13,479 | 23,923 | 0 | 13,479 | 28,501 | 41,980 | 4,489 | 37,490 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
West Allis, WI
|
2,452 | 10,982 | 0 | 2,452 | 11,529 | 13,981 | 1,785 | 12,195 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Chesterfield, MI
|
566 | 2,324 | 0 | 382 | 2,324 | 2,706 | 135 | 2,570 | 0 | S/L 31.5 | 2006(A) | |||||||||||||||||||||||||||||||||
Ft. Collins, CO
|
2,767 | 2,054 | 0 | 1,129 | 4,504 | 5,633 | 597 | 5,036 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Lafayette, IN
|
1,217 | 2,689 | 0 | 1,217 | 2,705 | 3,922 | 444 | 3,479 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Hamilton, NJ
|
8,039 | 49,896 | 0 | 11,622 | 77,770 | 89,392 | 9,413 | 79,980 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Lansing, MI
|
1,598 | 6,999 | 0 | 1,801 | 11,460 | 13,261 | 1,383 | 11,877 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Erie, PA (Peach)
|
10,880 | 19,201 | 0 | 6,373 | 44,001 | 50,374 | 15,414 | 34,961 | 27,565 | S/L 31.5 | 1995(C) | |||||||||||||||||||||||||||||||||
Erie, PA (Hills)
|
0 | 2,564 | 13 | 0 | 3,809 | 3,809 | 3,151 | 658 | 0 | S/L 30.0 | 1973(C) | |||||||||||||||||||||||||||||||||
San Francisco, CA
|
15,332 | 35,803 | 0 | 10,456 | 24,411 | 34,867 | 4,428 | 7,128 | 0 | S/L 31.5 | 2002(A) | |||||||||||||||||||||||||||||||||
Chillicothe, OH
|
43 | 2,549 | 2 | 1,170 | 4,366 | 5,536 | 2,687 | 32,181 | 0 | S/L 30.0 | 1974(C) | |||||||||||||||||||||||||||||||||
Phoenix, AZ
|
18,701 | 18,811 | 118 | 18,701 | 18,936 | 37,637 | 1,699 | 3,836 | 16,964 | S/L 30.0 | 1999(A) | |||||||||||||||||||||||||||||||||
Martinsville, VA
|
3,163 | 28,819 | 0 | 3,163 | 29,565 | 32,728 | 1,037 | 36,599 | 19,194 | S/L 30.0 | 1989(C) |
F-56
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation
(continued) |
||||||||||||||||||||||||||||||||||||||||||||
December 31, 2007 |
Total |
Date |
||||||||||||||||||||||||||||||||||||||||||
(In thousands) |
Cost, |
of |
||||||||||||||||||||||||||||||||||||||||||
Initial Cost | Total Cost (B) |
Net |
Depreciable |
Construction |
||||||||||||||||||||||||||||||||||||||||
Buildings |
Buildings |
of |
Lives |
(C) |
||||||||||||||||||||||||||||||||||||||||
& |
& |
Accumulated |
Accumulated |
(Years) |
Acquisition |
|||||||||||||||||||||||||||||||||||||||
Land | Improvements | Improvements | Land | Improvements | Total | Depreciation | Depreciation | Encumbrances | (1) | (A) | ||||||||||||||||||||||||||||||||||
Tampa, FL (Waters)
|
4,105 | 6,640 | 324 | 3,905 | 8,160 | 12,065 | 15,581 | 17,147 | 0 | S/L 31.5 | 1990(C) | |||||||||||||||||||||||||||||||||
Macedonia, OH (Phase II)
|
4,392 | 10,885 | 0 | 4,392 | 10,996 | 15,388 | 4,250 | 7,815 | 0 | S/L 31.5 | 1998(C) | |||||||||||||||||||||||||||||||||
Huber Hts, OH
|
757 | 14,469 | 1 | 757 | 14,862 | 15,619 | 3,004 | 12,384 | 0 | S/L 31.5 | 1993(A) | |||||||||||||||||||||||||||||||||
Lebanon, OH
|
651 | 911 | 31 | 812 | 1,445 | 2,257 | 6,708 | 8,911 | 0 | S/L 31.5 | 1993(A) | |||||||||||||||||||||||||||||||||
Xenia, OH
|
948 | 3,938 | 0 | 673 | 6,064 | 6,737 | 417 | 1,840 | 0 | S/L 31.5 | 1994(A) | |||||||||||||||||||||||||||||||||
Boardman, OH
|
9,025 | 27,983 | 0 | 8,152 | 28,226 | 36,378 | 2,456 | 4,281 | 25,665 | S/L 31.5 | 1997(A) | |||||||||||||||||||||||||||||||||
Solon, OH
|
6,220 | 7,454 | 0 | 6,220 | 21,547 | 27,767 | 9,303 | 27,075 | 15,033 | S/L 31.5 | 1998(C) | |||||||||||||||||||||||||||||||||
Cincinnati, OH
|
2,399 | 11,238 | 172 | 2,399 | 16,025 | 18,424 | 5,846 | 21,921 | 0 | S/L 31.5 | 1993(A) | |||||||||||||||||||||||||||||||||
Bedford, IN
|
706 | 8,425 | 6 | 1,067 | 10,490 | 11,557 | 6,527 | 11,898 | 0 | S/L 31.5 | 1993(A) | |||||||||||||||||||||||||||||||||
Watertown, SD
|
63 | 6,443 | 442 | 63 | 12,460 | 12,523 | 8,067 | 4,455 | 0 | S/L 30.0 | 1977(C) | |||||||||||||||||||||||||||||||||
Pensacola, FL
|
1,805 | 4,010 | 273 | 816 | 3,149 | 3,965 | 905 | 3,059 | 0 | S/L 30.0 | 1988(C) | |||||||||||||||||||||||||||||||||
Los Alamos, NM
|
725 | 3,500 | 30 | 725 | 4,919 | 5,644 | 3,596 | 2,048 | 0 | S/L 30.0 | 1978(C) | |||||||||||||||||||||||||||||||||
St. Louis, MO (Sunset)
|
12,791 | 38,404 | 0 | 13,403 | 44,239 | 57,642 | 13,936 | 43,706 | 33,272 | S/L 31.5 | 1998(A) | |||||||||||||||||||||||||||||||||
St. Louis, MO (Brentwood)
|
10,628 | 32,053 | 0 | 10,018 | 32,345 | 42,363 | 9,846 | 32,517 | 24,712 | S/L 31.5 | 1998(A) | |||||||||||||||||||||||||||||||||
Cedar Rapids, IA
|
4,219 | 12,697 | 0 | 4,219 | 13,588 | 17,807 | 4,390 | 13,417 | 9,026 | S/L 31.5 | 1998(A) | |||||||||||||||||||||||||||||||||
St. Louis, MO (Olympic)
|
2,775 | 8,370 | 0 | 2,775 | 10,196 | 12,971 | 3,579 | 9,392 | 0 | S/L 31.5 | 1998(A) | |||||||||||||||||||||||||||||||||
St. Louis, MO (Gravois)
|
1,336 | 4,050 | 0 | 1,525 | 4,887 | 6,412 | 1,497 | 4,915 | 867 | S/L 31.5 | 1998(A) | |||||||||||||||||||||||||||||||||
St. Louis, MO (Morris)
|
0 | 2,048 | 0 | 0 | 2,146 | 2,146 | 708 | 1,438 | 0 | S/L 31.5 | 1998(A) | |||||||||||||||||||||||||||||||||
St. Louis, MO (Southtowne)
|
4,159 | 3,818 | 0 | 5,403 | 7,210 | 12,613 | 712 | 11,901 | 0 | S/L 31.5 | 2004(C) | |||||||||||||||||||||||||||||||||
Aurora, OH
|
832 | 7,560 | 0 | 1,592 | 13,770 | 15,362 | 4,057 | 11,305 | 0 | S/L 31.5 | 1995(C) | |||||||||||||||||||||||||||||||||
Worthington, MN
|
374 | 6,404 | 441 | 374 | 7,421 | 7,795 | 6,347 | 1,448 | 0 | S/L 30.0 | 1977(C) | |||||||||||||||||||||||||||||||||
Nampa, ID
|
1,395 | 8,563 | 0 | 1,395 | 8,563 | 9,958 | 114 | 9,845 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Idaho Falls, ID
|
1,302 | 5,703 | 0 | 1,418 | 6,414 | 7,832 | 2,075 | 5,757 | 0 | S/L 31.5 | 1998(A) | |||||||||||||||||||||||||||||||||
Mount Vernon, IL
|
1,789 | 9,399 | 111 | 1,789 | 16,767 | 18,556 | 6,510 | 12,046 | 0 | S/L 31.5 | 1993(A) | |||||||||||||||||||||||||||||||||
Fenton, MO
|
414 | 4,244 | 476 | 430 | 7,520 | 7,950 | 4,748 | 3,202 | 0 | S/L 30.0 | 1983(A) | |||||||||||||||||||||||||||||||||
Simpsonville, SC
|
431 | 6,563 | 0 | 417 | 6,809 | 7,226 | 3,142 | 4,085 | 0 | S/L 31.5 | 1994(A) | |||||||||||||||||||||||||||||||||
Cambden, SC
|
627 | 7,519 | 7 | 871 | 11,936 | 12,807 | 4,661 | 8,146 | 0 | S/L 31.5 | 1993(A) | |||||||||||||||||||||||||||||||||
N. Charleston, SC
|
911 | 11,346 | 1 | 1,081 | 16,707 | 17,788 | 7,548 | 10,240 | 10,763 | S/L 31.5 | 1993(A) | |||||||||||||||||||||||||||||||||
S. Anderson, SC
|
1,366 | 6,117 | 13 | 1,366 | 6,155 | 7,521 | 4,893 | 2,628 | 0 | S/L 31.5 | 1994(A) | |||||||||||||||||||||||||||||||||
Orangeburg, SC
|
318 | 1,693 | 0 | 318 | 3,445 | 3,763 | 1,186 | 2,578 | 0 | S/L 31.5 | 1995(A) | |||||||||||||||||||||||||||||||||
Mt. Pleasant, SC
|
2,584 | 10,470 | 0 | 2,430 | 17,552 | 19,982 | 5,570 | 14,412 | 0 | S/L 31.5 | 1995(A) | |||||||||||||||||||||||||||||||||
Sault St. Marie, MI
|
1,826 | 13,710 | 0 | 1,826 | 15,218 | 17,044 | 6,303 | 10,742 | 0 | S/L 31.5 | 1994(A) | |||||||||||||||||||||||||||||||||
Cheboygan, MI
|
127 | 3,612 | 0 | 127 | 4,131 | 4,258 | 1,739 | 2,519 | 0 | S/L 31.5 | 1993(A) | |||||||||||||||||||||||||||||||||
Walker, MI (Grand Rapids)
|
1,926 | 8,039 | 0 | 1,926 | 8,910 | 10,836 | 3,361 | 7,475 | 7,917 | S/L 31.5 | 1995(A) | |||||||||||||||||||||||||||||||||
Detroit, MI
|
6,738 | 26,988 | 27 | 6,738 | 30,537 | 37,275 | 10,605 | 26,671 | 0 | S/L 31.5 | 1998(A) |
F-57
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation
(continued) |
||||||||||||||||||||||||||||||||||||||||||||
December 31, 2007 |
Total |
Date |
||||||||||||||||||||||||||||||||||||||||||
(In thousands) |
Cost, |
of |
||||||||||||||||||||||||||||||||||||||||||
Initial Cost | Total Cost (B) |
Net |
Depreciable |
Construction |
||||||||||||||||||||||||||||||||||||||||
Buildings |
Buildings |
of |
Lives |
(C) |
||||||||||||||||||||||||||||||||||||||||
& |
& |
Accumulated |
Accumulated |
(Years) |
Acquisition |
|||||||||||||||||||||||||||||||||||||||
Land | Improvements | Improvements | Land | Improvements | Total | Depreciation | Depreciation | Encumbrances | (1) | (A) | ||||||||||||||||||||||||||||||||||
Houghton, MI
|
440 | 7,301 | 1,821 | 440 | 15,384 | 15,824 | 10,320 | 5,503 | 0 | S/L 30.0 | 1980(C) | |||||||||||||||||||||||||||||||||
Bad Axe, MI
|
184 | 3,647 | 0 | 184 | 4,068 | 4,252 | 1,847 | 2,405 | 0 | S/L 31.5 | 1993(A) | |||||||||||||||||||||||||||||||||
Gaylord, MI
|
270 | 8,728 | 2 | 270 | 10,508 | 10,778 | 4,484 | 6,294 | 0 | S/L 31.5 | 1993(A) | |||||||||||||||||||||||||||||||||
Howell, MI
|
332 | 11,938 | 1 | 332 | 14,306 | 14,638 | 6,021 | 8,617 | 0 | S/L 31.5 | 1993(A) | |||||||||||||||||||||||||||||||||
Mt. Pleasant, MI
|
767 | 7,769 | 20 | 767 | 13,670 | 14,437 | 6,018 | 8,419 | 7,294 | S/L 31.5 | 1993(A) | |||||||||||||||||||||||||||||||||
Elyria, OH
|
352 | 5,693 | 0 | 352 | 8,469 | 8,821 | 4,359 | 4,462 | 0 | S/L 30.0 | 1977(C) | |||||||||||||||||||||||||||||||||
Meridian, ID
|
24,591 | 31,779 | 0 | 22,142 | 48,362 | 70,504 | 8,735 | 61,769 | 23,573 | S/L 31.5 | 2001(C) | |||||||||||||||||||||||||||||||||
Midvale, UT (FT. Union I, II, III &
Wingers)
|
25,662 | 56,759 | 0 | 23,180 | 69,407 | 92,587 | 17,659 | 74,928 | 0 | S/L 31.5 | 1998(A) | |||||||||||||||||||||||||||||||||
Taylorsville, UT
|
24,327 | 53,686 | 0 | 31,368 | 78,356 | 109,724 | 21,566 | 88,159 | 0 | S/L 31.5 | 1998(A) | |||||||||||||||||||||||||||||||||
Orem, UT
|
5,428 | 12,259 | 0 | 5,428 | 13,195 | 18,623 | 4,009 | 14,615 | 0 | S/L 31.5 | 1998(A) | |||||||||||||||||||||||||||||||||
Salt Lake City, UT (33rd)
|
986 | 2,132 | 0 | 986 | 2,158 | 3,144 | 651 | 2,493 | 0 | S/L 31.5 | 1998(A) | |||||||||||||||||||||||||||||||||
Riverdale, UT
|
15,845 | 36,479 | 0 | 15,845 | 43,439 | 59,284 | 13,023 | 46,261 | 0 | S/L 31.5 | 1998(A) | |||||||||||||||||||||||||||||||||
Bemidji, MN
|
442 | 8,229 | 500 | 442 | 11,617 | 12,059 | 8,192 | 3,867 | 0 | S/L 30.0 | 1977(C) | |||||||||||||||||||||||||||||||||
Salt Lake City, UT
|
2,801 | 5,997 | 0 | 2,801 | 6,755 | 9,556 | 2,195 | 7,361 | 0 | S/L 31.5 | 1998(A) | |||||||||||||||||||||||||||||||||
Ogden, UT
|
3,620 | 7,716 | 0 | 3,620 | 8,200 | 11,820 | 2,530 | 9,289 | 0 | S/L 31.5 | 1998(A) | |||||||||||||||||||||||||||||||||
Birmingham, AL (Eastwood)
|
3,726 | 13,974 | 0 | 3,726 | 17,037 | 20,763 | 6,835 | 13,928 | 0 | S/L 31.5 | 1994(A) | |||||||||||||||||||||||||||||||||
Birmingham, AL (Brookhighland)
|
10,573 | 26,002 | 0 | 11,434 | 48,478 | 59,912 | 15,033 | 44,879 | 25,530 | S/L 31.5 | 1995(A) | |||||||||||||||||||||||||||||||||
Ormond Beach, FL
|
1,048 | 15,812 | 4 | 1,048 | 18,030 | 19,078 | 7,466 | 11,612 | 0 | S/L 31.5 | 1994(A) | |||||||||||||||||||||||||||||||||
Antioch, CA
|
3,066 | 12,220 | 0 | 3,066 | 12,220 | 15,286 | 693 | 14,593 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
Santa Rosa, CA
|
3,783 | 15,964 | 0 | 3,783 | 15,967 | 19,750 | 904 | 18,846 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
San Diego, CA (College)
|
0 | 11,079 | 55 | 0 | 11,135 | 11,135 | 538 | 10,597 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
Las Vegas, NV
|
6,458 | 3,488 | 0 | 6,458 | 3,488 | 9,946 | 201 | 9,744 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
West Covina, CA
|
0 | 20,456 | 0 | 0 | 20,456 | 20,456 | 1,156 | 19,300 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
Phoenix, AZ
|
2,443 | 6,221 | 0 | 2,443 | 6,221 | 8,664 | 356 | 8,308 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
Fairfield, CA
|
9,140 | 11,514 | 0 | 9,140 | 11,514 | 20,654 | 654 | 20,000 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
Garden Grove, CA
|
4,955 | 5,392 | 0 | 4,955 | 5,392 | 10,347 | 309 | 10,038 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
San Diego, CA
|
5,508 | 8,294 | 0 | 5,508 | 8,294 | 13,802 | 472 | 13,330 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
Carson City, NV
|
1,928 | 4,841 | 0 | 1,928 | 4,841 | 6,769 | 277 | 6,493 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
Tucson, AZ
|
1,938 | 4,151 | 0 | 1,938 | 4,151 | 6,089 | 239 | 5,850 | 0 | S/L 40.0 | 2005(A)/ | |||||||||||||||||||||||||||||||||
Redding, CA
|
1,978 | 5,831 | 0 | 1,978 | 5,831 | 7,809 | 332 | 7,476 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
San Antonio, TX
|
2,403 | 2,697 | 0 | 2,403 | 2,697 | 5,100 | 157 | 4,943 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
Chandler, AZ
|
2,136 | 5,831 | 0 | 2,136 | 5,831 | 7,967 | 333 | 7,634 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
Chino, CA
|
4,974 | 7,052 | 0 | 4,974 | 7,052 | 12,026 | 402 | 11,624 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
Las Vegas, NV
|
2,621 | 6,039 | 0 | 2,621 | 6,039 | 8,660 | 345 | 8,315 | 0 | S/L 40.0 | 2005(A) |
F-58
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation
(continued) |
||||||||||||||||||||||||||||||||||||||||||||
December 31, 2007 |
Total |
Date |
||||||||||||||||||||||||||||||||||||||||||
(In thousands) |
Cost, |
of |
||||||||||||||||||||||||||||||||||||||||||
Initial Cost | Total Cost (B) |
Net |
Depreciable |
Construction |
||||||||||||||||||||||||||||||||||||||||
Buildings |
Buildings |
of |
Lives |
(C) |
||||||||||||||||||||||||||||||||||||||||
& |
& |
Accumulated |
Accumulated |
(Years) |
Acquisition |
|||||||||||||||||||||||||||||||||||||||
Land | Improvements | Improvements | Land | Improvements | Total | Depreciation | Depreciation | Encumbrances | (1) | (A) | ||||||||||||||||||||||||||||||||||
Clovis, CA
|
0 | 9,057 | 0 | 0 | 9,057 | 9,057 | 515 | 8,542 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
Santa Maria, CA
|
1,117 | 8,736 | 0 | 1,117 | 8,736 | 9,853 | 497 | 9,356 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
El Cajon, CA
|
0 | 15,648 | 0 | 0 | 15,648 | 15,648 | 886 | 14,762 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
Ukiah, CA
|
1,632 | 2,368 | 0 | 1,632 | 2,368 | 4,000 | 137 | 3,862 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
Madera, CA
|
1,770 | 746 | 0 | 1,770 | 746 | 2,516 | 46 | 2,470 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
Mesa, AZ
|
2,551 | 11,951 | 0 | 2,551 | 11,951 | 14,502 | 678 | 13,824 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
Burbank, CA
|
0 | 20,834 | 0 | 0 | 20,834 | 20,834 | 1,134 | 19,700 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
North Fullerton, CA
|
4,163 | 5,980 | 0 | 4,163 | 5,980 | 10,143 | 342 | 9,802 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
Tulare, CA
|
2,868 | 4,200 | 0 | 2,868 | 4,200 | 7,068 | 241 | 6,827 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
Porterville, CA
|
1,681 | 4,408 | 0 | 1,681 | 4,408 | 6,089 | 253 | 5,836 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
Lompac, CA
|
2,275 | 2,074 | 0 | 2,275 | 2,074 | 4,349 | 121 | 4,227 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
Palmdale, CA
|
4,589 | 6,544 | 0 | 4,589 | 6,544 | 11,133 | 373 | 10,759 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
Anaheim, CA
|
8,900 | 11,925 | 0 | 8,900 | 11,925 | 20,825 | 676 | 20,149 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
Sonora, CA
|
1,889 | 6,860 | 0 | 1,889 | 6,860 | 8,749 | 390 | 8,358 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
Phoenix, AZ
|
2,334 | 8,453 | 0 | 2,334 | 8,453 | 10,787 | 481 | 10,306 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
Foot Hill Ranch, CA
|
5,409 | 9,383 | 0 | 5,409 | 9,391 | 14,800 | 533 | 14,267 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
Reno, NV
|
2,695 | 5,078 | 0 | 2,695 | 5,078 | 7,773 | 291 | 7,481 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
Las Vegas, NV
|
5,736 | 5,795 | 0 | 5,736 | 5,795 | 11,531 | 331 | 11,199 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
Folsom, CA
|
3,461 | 11,036 | 0 | 3,461 | 11,036 | 14,497 | 626 | 13,871 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
Slatten Ranch, CA
|
5,439 | 11,728 | 0 | 5,439 | 11,728 | 17,167 | 665 | 16,502 | 0 | S/L 40.0 | 2005(A) | |||||||||||||||||||||||||||||||||
Buffalo, NY
|
2,341 | 8,995 | 0 | 2,341 | 9,576 | 11,917 | 1,131 | 10,786 | 0 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
West Seneca, NY
|
2,929 | 12,926 | 0 | 2,929 | 12,926 | 15,855 | 1,521 | 14,334 | 0 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
N. Tonawanda, NY
|
5,878 | 21,291 | 0 | 5,878 | 21,866 | 27,744 | 2,675 | 25,068 | 0 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Amherst, NY
|
5,873 | 22,458 | 0 | 5,873 | 23,113 | 28,986 | 2,726 | 26,260 | 0 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Ithaca, NY
|
9,198 | 42,969 | 0 | 9,198 | 43,150 | 52,348 | 4,987 | 47,361 | 17,144 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Hamburg, NY
|
3,303 | 16,239 | 0 | 3,303 | 16,666 | 19,969 | 2,035 | 17,933 | 0 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
West Seneca, NY
|
2,576 | 2,590 | 0 | 2,576 | 3,059 | 5,635 | 325 | 5,311 | 0 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Orland Park, IL
|
10,430 | 13,081 | 0 | 10,430 | 13,090 | 23,520 | 1,555 | 21,965 | 0 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Hamburg, NY
|
4,071 | 17,142 | 0 | 4,071 | 17,142 | 21,213 | 2,047 | 19,166 | 0 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Tonawanda, NY
|
3,061 | 6,887 | 0 | 3,061 | 7,536 | 10,597 | 875 | 9,723 | 0 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Hamburg, NY
|
4,152 | 22,075 | 0 | 4,152 | 22,376 | 26,528 | 2,580 | 23,948 | 0 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Columbus, OH (Consumer Square)
|
9,828 | 22,858 | 0 | 9,828 | 23,371 | 33,199 | 2,841 | 30,359 | 13,058 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Louisville, KY (Outer Loop)
|
4,180 | 747 | 0 | 4,180 | 1,010 | 5,190 | 141 | 5,050 | 0 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Olean, NY
|
8,834 | 29,813 | 0 | 8,834 | 30,289 | 39,123 | 3,945 | 35,178 | 4,053 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
N. Charleston, SC (N Charl Ctr)
|
5,146 | 5,990 | 0 | 5,146 | 8,378 | 13,524 | 935 | 12,589 | 10,249 | S/L 31.5 | 2004(A) |
F-59
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation
(continued) |
||||||||||||||||||||||||||||||||||||||||||||
December 31, 2007 |
Total |
Date |
||||||||||||||||||||||||||||||||||||||||||
(In thousands) |
Cost, |
of |
||||||||||||||||||||||||||||||||||||||||||
Initial Cost | Total Cost (B) |
Net |
Depreciable |
Construction |
||||||||||||||||||||||||||||||||||||||||
Buildings |
Buildings |
of |
Lives |
(C) |
||||||||||||||||||||||||||||||||||||||||
& |
& |
Accumulated |
Accumulated |
(Years) |
Acquisition |
|||||||||||||||||||||||||||||||||||||||
Land | Improvements | Improvements | Land | Improvements | Total | Depreciation | Depreciation | Encumbrances | (1) | (A) | ||||||||||||||||||||||||||||||||||
Jacsonville, FL (Arlington Road)
|
4,672 | 5,085 | 0 | 4,672 | 5,412 | 10,084 | 669 | 9,416 | 0 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
West Long Branch, NJ (Monmouth)
|
14,131 | 51,982 | 0 | 14,131 | 52,516 | 66,647 | 6,116 | 60,531 | 11,237 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Big Flats, NY (Big Flats I)
|
22,229 | 52,579 | 0 | 22,279 | 55,856 | 78,135 | 7,632 | 70,502 | 10,926 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Hanover, PA
|
4,408 | 4,707 | 0 | 4,408 | 4,707 | 9,115 | 589 | 8,526 | 0 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Mays Landing, NJ (Wrangelboro)
|
49,033 | 107,230 | 0 | 49,033 | 109,012 | 158,045 | 12,783 | 145,262 | 45,882 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Plattsburgh, NY
|
10,734 | 34,028 | 0 | 10,767 | 35,045 | 45,812 | 4,406 | 41,405 | 6,431 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Williamsville, NY
|
5,021 | 6,768 | 0 | 5,021 | 7,391 | 12,412 | 828 | 11,585 | 0 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Niagara Falls, NY
|
4,956 | 11,370 | 0 | 1,973 | 3,191 | 5,164 | 387 | 4,776 | 0 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Amherst, NY
|
29,729 | 78,602 | 0 | 28,672 | 73,614 | 102,286 | 8,791 | 93,496 | 22,745 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Greece, NY
|
3,901 | 4,922 | 0 | 3,901 | 4,922 | 8,823 | 587 | 8,235 | 0 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Buffalo, NY (Elmwood)
|
6,010 | 19,044 | 0 | 6,010 | 19,098 | 25,108 | 2,237 | 22,870 | 0 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Orange Park, FL (The Village)
|
1,929 | 5,476 | 0 | 1,929 | 5,514 | 7,443 | 653 | 6,791 | 0 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Lakeland, FL (Highlands)
|
4,112 | 4,328 | 0 | 4,112 | 4,433 | 8,545 | 541 | 8,004 | 0 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Lockport, NY
|
9,253 | 23,829 | 0 | 9,253 | 23,882 | 33,135 | 2,838 | 30,296 | 11,146 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Buffalo, NY (Delaware)
|
3,568 | 29,001 | 0 | 3,620 | 29,458 | 33,078 | 3,328 | 29,750 | 861 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Cheektowaga, NY (Thruway)
|
15,471 | 25,600 | 0 | 15,471 | 26,888 | 42,359 | 3,451 | 38,908 | 4,385 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Walker, MI (Alpine Ave)
|
1,454 | 9,284 | 0 | 1,454 | 11,562 | 13,016 | 1,784 | 11,232 | 0 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Toledo, OH
|
1,316 | 3,961 | 0 | 1,316 | 3,961 | 5,277 | 479 | 4,797 | 0 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Amherst, NY
|
4,054 | 11,995 | 0 | 4,054 | 12,053 | 16,107 | 1,412 | 14,695 | 4,571 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
New Hartford, NY
|
1,279 | 13,685 | 0 | 1,279 | 13,743 | 15,022 | 1,621 | 13,401 | 0 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Tonawanda, NY (Sher/Delaware)
|
5,090 | 14,874 | 0 | 5,090 | 14,942 | 20,032 | 1,762 | 18,270 | 0 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Mays Landing, NJ (Hamilton)
|
36,224 | 56,949 | 0 | 36,224 | 57,413 | 93,637 | 6,790 | 86,847 | 12,745 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Gates, NY
|
9,369 | 40,672 | 0 | 9,369 | 41,117 | 50,486 | 4,826 | 45,660 | 24,129 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Rome, NY (Freedom)
|
4,565 | 5,078 | 0 | 4,565 | 9,237 | 13,802 | 876 | 12,926 | 3,888 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Englewood, FL
|
2,172 | 2,983 | 0 | 2,172 | 3,195 | 5,367 | 317 | 5,050 | 1,602 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Hamburg, NY (Milestrip)
|
2,527 | 14,711 | 0 | 2,527 | 14,872 | 17,399 | 1,840 | 15,558 | 0 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Mooresville, NC
|
14,369 | 43,688 | 0 | 14,369 | 44,237 | 58,606 | 4,628 | 53,979 | 23,188 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Amherst, NY (Sheridan/Harlem)
|
2,620 | 2,554 | 0 | 2,620 | 2,848 | 5,468 | 336 | 5,132 | 0 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Indian Trail, NC
|
3,172 | 7,075 | 0 | 3,172 | 7,543 | 10,715 | 936 | 9,779 | 6,735 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Dewitt, NY
|
1,140 | 6,756 | 0 | 881 | 5,677 | 6,558 | 660 | 5,898 | 0 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Chili, NY
|
2,143 | 8,109 | 0 | 2,143 | 8,109 | 10,252 | 966 | 9,286 | 0 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Horseheads, NY
|
659 | 2,426 | 0 | 659 | 2,476 | 3,135 | 20 | 3,116 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Ashtabula, OH
|
1,444 | 9,912 | 0 | 1,444 | 9,912 | 11,356 | 1,148 | 10,208 | 6,707 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Niskayuna, NY
|
20,297 | 51,155 | 0 | 20,297 | 51,916 | 72,213 | 6,325 | 65,888 | 22,301 | S/L 31.5 | 2004(A) |
F-60
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation
(continued) |
||||||||||||||||||||||||||||||||||||||||||||
December 31, 2007 |
Total |
Date |
||||||||||||||||||||||||||||||||||||||||||
(In thousands) |
Cost, |
of |
||||||||||||||||||||||||||||||||||||||||||
Initial Cost | Total Cost (B) |
Net |
Depreciable |
Construction |
||||||||||||||||||||||||||||||||||||||||
Buildings |
Buildings |
of |
Lives |
(C) |
||||||||||||||||||||||||||||||||||||||||
& |
& |
Accumulated |
Accumulated |
(Years) |
Acquisition |
|||||||||||||||||||||||||||||||||||||||
Land | Improvements | Improvements | Land | Improvements | Total | Depreciation | Depreciation | Encumbrances | (1) | (A) | ||||||||||||||||||||||||||||||||||
Dansville, NY
|
2,806 | 4,905 | 0 | 2,806 | 5,147 | 7,953 | 583 | 7,370 | 0 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Dewitt, NY (Dewitt Commons)
|
9,738 | 26,351 | 0 | 9,738 | 31,639 | 41,377 | 4,766 | 36,611 | 0 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Victor, NY
|
2,374 | 6,433 | 0 | 2,374 | 6,517 | 8,891 | 728 | 8,163 | 6,403 | S/L 31.5 | 2004(A) | |||||||||||||||||||||||||||||||||
Wilmington, NC
|
4,785 | 16,852 | 1,183 | 4,287 | 34,909 | 39,196 | 14,127 | 25,069 | 19,570 | S/L 31.5 | 1989(C) | |||||||||||||||||||||||||||||||||
Berlin, VT
|
859 | 10,948 | 24 | 866 | 15,053 | 15,919 | 8,379 | 7,540 | 0 | S/L 30.0 | 1986(C) | |||||||||||||||||||||||||||||||||
Brainerd, MN
|
703 | 9,104 | 272 | 1,182 | 17,820 | 19,002 | 7,414 | 11,588 | 0 | S/L 31.5 | 1991(A) | |||||||||||||||||||||||||||||||||
Spring Hill, FL
|
1,084 | 4,816 | 266 | 2,096 | 11,078 | 13,174 | 4,859 | 8,315 | 4,749 | S/L 30.0 | 1988(C) | |||||||||||||||||||||||||||||||||
Tiffin, OH
|
432 | 5,908 | 435 | 432 | 10,863 | 11,295 | 5,314 | 5,981 | 0 | S/L 30.0 | 1980(C) | |||||||||||||||||||||||||||||||||
Broomfield, CO (Flatiron Gard)
|
23,681 | 31,809 | 0 | 13,707 | 42,725 | 56,432 | 5,690 | 50,741 | 0 | S/L 31.5 | 2003(A) | |||||||||||||||||||||||||||||||||
Denver, CO (Centennial)
|
7,833 | 35,550 | 0 | 7,978 | 56,014 | 63,992 | 16,320 | 47,672 | 37,072 | S/L 31.5 | 1997(C) | |||||||||||||||||||||||||||||||||
Dickinson, ND
|
57 | 6,864 | 355 | 51 | 7,803 | 7,854 | 7,583 | 271 | 0 | S/L 30.0 | 1978(C) | |||||||||||||||||||||||||||||||||
Hutchinson, MN
|
402 | 5,510 | 657 | 427 | 7,071 | 7,498 | 5,789 | 1,709 | 0 | S/L 30.0 | 1981(C) | |||||||||||||||||||||||||||||||||
New Bern, NC
|
780 | 8,204 | 72 | 441 | 5,284 | 5,725 | 2,579 | 3,145 | 0 | S/L 31.5 | 1989(C) | |||||||||||||||||||||||||||||||||
Bayamon, PR (Plaza Del Sol)
|
132,074 | 152,441 | 0 | 132,759 | 154,908 | 287,667 | 14,420 | 273,247 | 0 | S/L 31.5 | 2005(A) | |||||||||||||||||||||||||||||||||
Carolina, PR (Plaza Escorial)
|
28,522 | 76,947 | 0 | 28,601 | 77,216 | 105,817 | 7,313 | 98,504 | 0 | S/L 31.5 | 2005(A) | |||||||||||||||||||||||||||||||||
Humacao, PR (Palma Real)
|
16,386 | 74,059 | 0 | 16,386 | 74,879 | 91,265 | 7,046 | 84,219 | 0 | S/L 31.5 | 2005(A) | |||||||||||||||||||||||||||||||||
Isabela, PR (Plaza Isabela)
|
8,175 | 41,094 | 0 | 8,175 | 41,953 | 50,128 | 3,968 | 46,160 | 0 | S/L 31.5 | 2005(A) | |||||||||||||||||||||||||||||||||
San German, PR (Camino Real)
|
3,215 | 24 | 0 | 3,223 | 24 | 3,247 | 10 | 3,237 | 0 | S/L 31.5 | 2005(A) | |||||||||||||||||||||||||||||||||
Cayey, PR (Plaza Cayey)
|
19,214 | 25,584 | 0 | 19,611 | 26,190 | 45,801 | 2,513 | 43,288 | 0 | S/L 31.5 | 2005(A) | |||||||||||||||||||||||||||||||||
Bayamon, PR (Rio Hondo)
|
91,645 | 98,007 | 0 | 91,898 | 101,608 | 193,506 | 9,208 | 184,298 | 54,791 | S/L 31.5 | 2005(A) | |||||||||||||||||||||||||||||||||
San Juan, PR (Senorial Plaza)
|
10,338 | 23,285 | 0 | 10,338 | 23,987 | 34,325 | 2,266 | 32,060 | 14,228 | S/L 31.5 | 2005(A) | |||||||||||||||||||||||||||||||||
Bayamon, PR (Rexville Plaza)
|
4,294 | 11,987 | 0 | 4,294 | 12,209 | 16,503 | 1,176 | 15,326 | 8,572 | S/L 31.5 | 2005(A) | |||||||||||||||||||||||||||||||||
Arecibo, PR (Atlantico)
|
7,965 | 29,898 | 0 | 8,094 | 30,819 | 38,913 | 2,916 | 35,997 | 14,316 | S/L 31.5 | 2005(A) | |||||||||||||||||||||||||||||||||
Hatillo, PR (Plaza Del Norte)
|
101,219 | 105,465 | 0 | 101,219 | 108,207 | 209,426 | 10,037 | 199,389 | 0 | S/L 31.5 | 2005(A) | |||||||||||||||||||||||||||||||||
Vega Baja, PR (Plaza Vega Baja)
|
7,076 | 18,684 | 0 | 7,076 | 18,728 | 25,804 | 1,794 | 24,009 | 0 | S/L 31.5 | 2005(A) | |||||||||||||||||||||||||||||||||
Guyama, PR (Plaza Wal-Mart)
|
1,960 | 18,721 | 0 | 1,960 | 18,834 | 20,794 | 1,788 | 19,007 | 0 | S/L 31.5 | 2005(A) | |||||||||||||||||||||||||||||||||
Fajardo, PR (Plaza Fajardo)
|
4,376 | 41,199 | 0 | 4,376 | 41,469 | 45,845 | 3,905 | 41,939 | 0 | S/L 31.5 | 2005(A) | |||||||||||||||||||||||||||||||||
San German, PR (Del Oeste)
|
6,470 | 20,751 | 0 | 6,470 | 21,117 | 27,587 | 2,012 | 25,576 | 0 | S/L 31.5 | 2005(A) | |||||||||||||||||||||||||||||||||
Princeton, NJ
|
7,121 | 29,783 | 0 | 7,121 | 36,032 | 43,153 | 10,435 | 32,718 | 0 | S/L 31.5 | 1998(A) | |||||||||||||||||||||||||||||||||
Princeton, NJ (Pavilion)
|
6,327 | 44,466 | 0 | 7,237 | 54,903 | 62,140 | 10,842 | 51,298 | 0 | S/L 31.5 | 2000(C) | |||||||||||||||||||||||||||||||||
Phoenix, AZ
|
15,352 | 22,813 | 1,601 | 15,352 | 26,549 | 41,901 | 8,130 | 33,771 | 30,000 | S/L 31.5 | 2000(C) | |||||||||||||||||||||||||||||||||
Wichita, KS (Eastgate)
|
5,058 | 11,362 | 0 | 5,222 | 12,527 | 17,749 | 2,468 | 15,280 | 0 | S/L 31.5 | 2002(A) | |||||||||||||||||||||||||||||||||
Russellville, AR
|
624 | 13,391 | 0 | 624 | 14,894 | 15,518 | 5,967 | 9,551 | 0 | S/L 31.5 | 1994(A) | |||||||||||||||||||||||||||||||||
N. Little Rock, AR
|
907 | 17,160 | 0 | 907 | 19,139 | 20,046 | 6,367 | 13,680 | 0 | S/L 31.5 | 1994(A) | |||||||||||||||||||||||||||||||||
Ottumwa, IA
|
338 | 8,564 | 103 | 321 | 16,725 | 17,046 | 6,981 | 10,064 | 0 | S/L 31.5 | 1990(C) |
F-61
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation
(continued) |
||||||||||||||||||||||||||||||||||||||||||||
December 31, 2007 |
Total |
Date |
||||||||||||||||||||||||||||||||||||||||||
(In thousands) |
Cost, |
of |
||||||||||||||||||||||||||||||||||||||||||
Initial Cost | Total Cost (B) |
Net |
Depreciable |
Construction |
||||||||||||||||||||||||||||||||||||||||
Buildings |
Buildings |
of |
Lives |
(C) |
||||||||||||||||||||||||||||||||||||||||
& |
& |
Accumulated |
Accumulated |
(Years) |
Acquisition |
|||||||||||||||||||||||||||||||||||||||
Land | Improvements | Improvements | Land | Improvements | Total | Depreciation | Depreciation | Encumbrances | (1) | (A) | ||||||||||||||||||||||||||||||||||
Washington, NC
|
991 | 3,118 | 34 | 878 | 4,480 | 5,358 | 2,131 | 3,227 | 0 | S/L 31.5 | 1990(C) | |||||||||||||||||||||||||||||||||
Leawood, KS
|
13,002 | 69,086 | 0 | 13,352 | 77,940 | 91,292 | 11,701 | 79,591 | 47,825 | S/L 31.5 | 1998(A) | |||||||||||||||||||||||||||||||||
Littleton, CO
|
12,249 | 50,709 | 0 | 12,458 | 52,413 | 64,871 | 8,910 | 55,962 | 0 | S/L 31.5 | 2002(C) | |||||||||||||||||||||||||||||||||
Durham, NC
|
2,210 | 11,671 | 278 | 2,210 | 13,895 | 16,105 | 7,378 | 8,727 | 6,672 | S/L 31.5 | 1990(C) | |||||||||||||||||||||||||||||||||
San Antonio, TX (N. Bandera)
|
3,475 | 37,327 | 0 | 3,475 | 37,772 | 41,247 | 6,716 | 34,531 | 0 | S/L 31.5 | 2002(A) | |||||||||||||||||||||||||||||||||
Crystal River, FL
|
1,217 | 5,796 | 365 | 1,219 | 8,619 | 9,838 | 4,690 | 5,149 | 0 | S/L 31.5 | 1986(C) | |||||||||||||||||||||||||||||||||
Dublin, OH (Perimeter Center)
|
3,609 | 11,546 | 0 | 3,609 | 11,745 | 15,354 | 3,703 | 11,651 | 0 | S/L 31.5 | 1998(A) | |||||||||||||||||||||||||||||||||
Hamilton, OH
|
495 | 1,618 | 0 | 495 | 1,618 | 2,113 | 500 | 1,613 | 0 | S/L 31.5 | 1998(A) | |||||||||||||||||||||||||||||||||
Barboursville, WV
|
431 | 1,417 | 2 | 0 | 2,555 | 2,555 | 766 | 1,789 | 0 | S/L 31.5 | 1998(A) | |||||||||||||||||||||||||||||||||
Columbus, OH (Easton Market)
|
11,087 | 44,494 | 0 | 12,085 | 48,284 | 60,369 | 14,348 | 46,021 | 0 | S/L 31.5 | 1998(A) | |||||||||||||||||||||||||||||||||
Columbus, OH (Dublin Village))
|
6,478 | 29,792 | 0 | 6,478 | 29,771 | 36,249 | 29,750 | 6,498 | 0 | S/L 31.5 | 2005(A) | |||||||||||||||||||||||||||||||||
Denver, CO (Tamarac Square Mall)
|
2,990 | 12,252 | 0 | 2,987 | 13,700 | 16,687 | 3,620 | 13,067 | 0 | S/L 31.5 | 2001(A) | |||||||||||||||||||||||||||||||||
Chelmsford, MA (Apollo Drive)
|
8,124 | 26,760 | 0 | 8,116 | 43,996 | 52,112 | 6,348 | 45,764 | 0 | S/L 31.5 | 2001(A) | |||||||||||||||||||||||||||||||||
Daytona Beach, FL (Volusia Point)
|
3,838 | 4,485 | 0 | 3,834 | 5,031 | 8,865 | 1,082 | 7,783 | 0 | S/L 31.5 | 2001(A) | |||||||||||||||||||||||||||||||||
Twinsburg, OH (Heritage Business)
|
254 | 1,623 | 0 | 254 | 1,795 | 2,049 | 381 | 1,668 | 0 | S/L 31.5 | 2001(A) | |||||||||||||||||||||||||||||||||
Silver Springs, MD (Tech Center
29-1)
|
7,484 | 20,980 | 0 | 7,476 | 24,591 | 32,067 | 5,471 | 26,595 | 6,369 | S/L 31.5 | 2001(A) | |||||||||||||||||||||||||||||||||
San Antonio, TX
|
1,232 | 7,881 | 0 | 1,232 | 7,881 | 9,113 | 63 | 9,051 | 0 | S/L 31.5 | 2007(C) | |||||||||||||||||||||||||||||||||
San Antonio, TX
|
1,613 | 10,791 | 0 | 1,613 | 10,791 | 12,404 | 57 | 12,347 | 0 | S/L 31.5 | 2007(C) | |||||||||||||||||||||||||||||||||
McHenry, IL
|
332 | 1,302 | 0 | 332 | 1,302 | 1,634 | 9 | 1,625 | 0 | S/L 31.5 | 2006(C) | |||||||||||||||||||||||||||||||||
San Antonio, TX (Terrell)
|
4,980 | 11,880 | 0 | 4,980 | 11,880 | 16,860 | 0 | 16,861 | 12,774 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Macon, GA
|
2,940 | 5,192 | 0 | 2,940 | 5,209 | 8,149 | 143 | 8,006 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Snellville, GA (Commons)
|
10,185 | 51,815 | 0 | 10,185 | 51,815 | 62,000 | 1,413 | 60,587 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Jersey City, NJ
|
6,241 | 14,920 | 0 | 6,241 | 14,920 | 21,161 | 399 | 20,762 | 9,875 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Union, NJ
|
7,659 | 15,689 | 0 | 7,659 | 15,689 | 23,348 | 427 | 22,921 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Spartanburg, SC (Northpoint)
|
1,015 | 8,992 | 0 | 1,015 | 8,992 | 10,007 | 252 | 9,756 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Taylors, SC (Hampton)
|
1,732 | 4,506 | 0 | 1,732 | 4,506 | 6,238 | 124 | 6,114 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Dothan, AL (Shops)
|
2,065 | 20,972 | 0 | 2,065 | 20,972 | 23,037 | 570 | 22,467 | 11,567 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Bradenton, FL (Cortez)
|
10,766 | 31,203 | 0 | 10,766 | 31,236 | 42,002 | 858 | 41,144 | 12,670 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Clearwater, FL
|
5,579 | 15,855 | 0 | 5,579 | 16,066 | 21,645 | 449 | 21,196 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
New Tampa, FL
|
1,707 | 3,338 | 0 | 1,707 | 3,343 | 5,050 | 95 | 4,954 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Tequesta, FL
|
2,108 | 7,400 | 0 | 2,108 | 7,525 | 9,633 | 187 | 9,446 | 5,200 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Kennesaw, GA (Town)
|
6,175 | 9,028 | 0 | 6,175 | 9,029 | 15,204 | 243 | 14,960 | 0 | S/L 31.5 | 2007(A) |
F-62
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation
(continued) |
||||||||||||||||||||||||||||||||||||||||||||
December 31, 2007 |
Total |
Date |
||||||||||||||||||||||||||||||||||||||||||
(In thousands) |
Cost, |
of |
||||||||||||||||||||||||||||||||||||||||||
Initial Cost | Total Cost (B) |
Net |
Depreciable |
Construction |
||||||||||||||||||||||||||||||||||||||||
Buildings |
Buildings |
of |
Lives |
(C) |
||||||||||||||||||||||||||||||||||||||||
& |
& |
Accumulated |
Accumulated |
(Years) |
Acquisition |
|||||||||||||||||||||||||||||||||||||||
Land | Improvements | Improvements | Land | Improvements | Total | Depreciation | Depreciation | Encumbrances | (1) | (A) | ||||||||||||||||||||||||||||||||||
Lawrenceville, GA (Springfield)
|
3,049 | 10,890 | 0 | 3,049 | 10,891 | 13,940 | 296 | 13,644 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Roswell, GA (Village)
|
6,566 | 15,005 | 0 | 6,566 | 15,008 | 21,574 | 406 | 21,169 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Hagerstown, MD
|
2,440 | 9,697 | 0 | 2,440 | 9,719 | 12,159 | 297 | 11,863 | 6,770 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Greensboro, NC (Golden)
|
5,012 | 11,162 | 0 | 5,012 | 11,162 | 16,174 | 310 | 15,864 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Greensboro, NC (Wendover)
|
3,153 | 9,455 | 0 | 3,153 | 9,455 | 12,608 | 254 | 12,354 | 5,450 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Brick, NJ
|
4,261 | 21,479 | 0 | 4,261 | 21,491 | 25,752 | 593 | 25,159 | 10,300 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
East Hanover, NJ (Plaza)
|
3,847 | 23,798 | 0 | 3,847 | 23,998 | 27,845 | 658 | 27,186 | 9,280 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
East Hanover, NJ (Sony)
|
6,861 | 11,165 | 0 | 6,861 | 11,165 | 18,026 | 306 | 17,719 | 6,445 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Camp Hill, PA
|
1,631 | 8,402 | 0 | 1,631 | 8,402 | 10,033 | 231 | 9,802 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Middletown, RI
|
3,804 | 16,805 | 0 | 3,804 | 16,805 | 20,609 | 461 | 20,149 | 10,000 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Conway, SC
|
1,217 | 7,038 | 0 | 1,217 | 7,038 | 8,255 | 209 | 8,047 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Lexington, SC
|
1,795 | 9,933 | 0 | 1,795 | 9,933 | 11,728 | 269 | 11,459 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Newport News, VA (Denbigh)
|
10,064 | 21,272 | 0 | 10,064 | 21,305 | 31,369 | 589 | 30,780 | 11,457 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Richmond, VA (Downtown)
|
12,002 | 34,736 | 0 | 12,002 | 34,736 | 46,738 | 942 | 45,795 | 18,480 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Springfield, VA (Loisdale)
|
12,627 | 30,572 | 0 | 12,627 | 30,572 | 43,199 | 822 | 42,377 | 15,950 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Springfield, VA (Spring Mall)
|
4,389 | 9,466 | 0 | 4,389 | 9,531 | 13,920 | 257 | 13,663 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Sterling, VA
|
8,426 | 18,651 | 0 | 8,426 | 18,651 | 27,077 | 506 | 26,571 | 9,240 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Windsor Court, CT
|
6,090 | 11,745 | 0 | 6,090 | 11,745 | 17,835 | 320 | 17,514 | 8,015 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Ocala, FL
|
2,877 | 9,407 | 0 | 2,877 | 9,407 | 12,284 | 258 | 12,026 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Plant City, FL
|
3,687 | 9,849 | 0 | 3,687 | 9,849 | 13,536 | 267 | 13,268 | 5,900 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Brandon, FL (Albertsons)(3),(4)
|
3,365 | 2,498 | 0 | 3,365 | 2,498 | 5,863 | 67 | 5,796 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Brandon, FL
|
3,571 | 12,190 | 0 | 3,571 | 12,190 | 15,761 | 327 | 15,433 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Atlanta, GA (Abernathy)
|
11,634 | 31,341 | 0 | 11,634 | 31,341 | 42,975 | 838 | 42,138 | 13,392 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Norcross, GA
|
3,007 | 8,489 | 0 | 3,007 | 8,491 | 11,498 | 231 | 11,268 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Bowie, MD
|
5,739 | 14,301 | 0 | 5,739 | 14,307 | 20,046 | 392 | 19,654 | 8,632 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Ashville, NC (Oakley)
|
2,651 | 8,908 | 0 | 2,651 | 8,908 | 11,559 | 271 | 11,288 | 5,175 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Cary, NC (Mill Pond)
|
6,913 | 17,301 | 0 | 6,913 | 17,307 | 24,220 | 469 | 23,751 | 8,500 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Charlotte, NC (Camfield)
|
2,842 | 9,807 | 0 | 2,842 | 9,807 | 12,649 | 268 | 12,381 | 5,150 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Cornelius, NC
|
4,382 | 15,184 | 0 | 4,382 | 15,188 | 19,570 | 410 | 19,160 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Greensboro, NC (Capital)
|
3,070 | 13,386 | 0 | 3,070 | 13,386 | 16,456 | 361 | 16,095 | 6,700 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Raleigh, NC (Capital)
|
2,728 | 10,665 | 0 | 2,728 | 10,665 | 13,393 | 292 | 13,101 | 5,478 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Raleigh, NC (Wakefield)
|
3,345 | 11,482 | 0 | 3,345 | 11,485 | 14,830 | 317 | 14,514 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Wilmington, NC (Oleander)
|
2,270 | 4,812 | 0 | 2,270 | 4,812 | 7,082 | 147 | 6,935 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Wilson, NC
|
1,598 | 8,160 | 0 | 1,598 | 8,168 | 9,766 | 227 | 9,539 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Morgantown, WV
|
4,645 | 10,341 | 0 | 4,645 | 10,341 | 14,986 | 307 | 14,680 | 7,000 | S/L 31.5 | 2007(A) |
F-63
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation
(continued) |
||||||||||||||||||||||||||||||||||||||||||||
December 31, 2007 |
Total |
Date |
||||||||||||||||||||||||||||||||||||||||||
(In thousands) |
Cost, |
of |
||||||||||||||||||||||||||||||||||||||||||
Initial Cost | Total Cost (B) |
Net |
Depreciable |
Construction |
||||||||||||||||||||||||||||||||||||||||
Buildings |
Buildings |
of |
Lives |
(C) |
||||||||||||||||||||||||||||||||||||||||
& |
& |
Accumulated |
Accumulated |
(Years) |
Acquisition |
|||||||||||||||||||||||||||||||||||||||
Land | Improvements | Improvements | Land | Improvements | Total | Depreciation | Depreciation | Encumbrances | (1) | (A) | ||||||||||||||||||||||||||||||||||
Greenwood, SC
|
607 | 4,094 | 0 | 607 | 4,094 | 4,701 | 115 | 4,586 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Edgewater, NJ
|
7,714 | 30,473 | 0 | 7,714 | 30,473 | 38,187 | 822 | 37,365 | 14,000 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Cullman, AL
|
2,542 | 7,651 | 0 | 2,542 | 7,651 | 10,193 | 214 | 9,979 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Dothan, AL (Circuit City)
|
1,293 | 6,005 | 0 | 1,293 | 6,005 | 7,298 | 167 | 7,131 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Culver City, CA
|
4,239 | 4,824 | 0 | 4,239 | 4,824 | 9,063 | 132 | 8,931 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Highland Ranch, CO
|
1,380 | 4,739 | 0 | 1,380 | 4,739 | 6,119 | 132 | 5,988 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Manchester, CT
|
4,334 | 10,428 | 0 | 4,334 | 10,428 | 14,762 | 291 | 14,471 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Dania Beach, FL
|
9,593 | 17,686 | 0 | 9,593 | 17,686 | 27,279 | 490 | 26,788 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Daytona Beach, FL (KB Homes)
|
1,247 | 1,154 | 0 | 1,247 | 1,154 | 2,401 | 34 | 2,367 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Daytona Beach, FL (PetSmart)
|
1,352 | 3,848 | 0 | 1,352 | 3,848 | 5,200 | 107 | 5,093 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Kissimmee, FL (CVS)
|
1,072 | 1,783 | 0 | 1,072 | 1,783 | 2,855 | 48 | 2,806 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Plantation, FL (Vision)
|
1,032 | 580 | 0 | 1,032 | 580 | 1,612 | 16 | 1,596 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Vero Beach, FL
|
2,653 | 4,667 | 0 | 2,653 | 4,667 | 7,320 | 130 | 7,190 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Alpharetta, GA
|
2,776 | 3,490 | 0 | 2,776 | 3,490 | 6,266 | 98 | 6,168 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Duluth, GA (Sofa)
|
815 | 2,692 | 0 | 815 | 2,692 | 3,507 | 75 | 3,432 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Gainesville, GA
|
1,073 | 1,586 | 0 | 1,073 | 1,586 | 2,659 | 43 | 2,616 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Lawrenceville, GA (Eckerd)
|
1,457 | 1,057 | 0 | 1,457 | 1,057 | 2,514 | 29 | 2,484 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Macon, GA (K-Mart)
|
1,397 | 1,142 | 0 | 1,397 | 1,142 | 2,539 | 30 | 2,509 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Marietta, GA (Eckerd)
|
1,622 | 1,050 | 0 | 1,622 | 1,050 | 2,672 | 29 | 2,643 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Rome, GA
|
1,523 | 4,065 | 0 | 1,523 | 4,065 | 5,588 | 114 | 5,474 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Snellville, GA (Eckerd)
|
1,303 | 1,494 | 0 | 1,303 | 1,494 | 2,797 | 41 | 2,756 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Sylvania, GA
|
431 | 3,774 | 0 | 431 | 3,774 | 4,205 | 107 | 4,098 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Warner Robbins, GA (Lowes)
|
3,667 | 10,940 | 0 | 3,667 | 10,940 | 14,607 | 307 | 14,300 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Rockford, IL
|
1,107 | 3,165 | 0 | 1,107 | 3,165 | 4,272 | 87 | 4,185 | 3,223 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Covington, LA
|
1,054 | 1,394 | 0 | 1,054 | 1,394 | 2,448 | 39 | 2,409 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Worcester, MA
|
5,395 | 10,938 | 0 | 5,395 | 10,938 | 16,333 | 299 | 16,034 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Dearborn Heights, MI
|
2,463 | 2,946 | 0 | 2,463 | 2,946 | 5,409 | 81 | 5,329 | 3,550 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Livonia, MI
|
1,411 | 2,727 | 0 | 1,411 | 2,727 | 4,138 | 75 | 4,063 | 2,477 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Port Huron, MI
|
1,662 | 3,270 | 0 | 1,662 | 3,270 | 4,932 | 90 | 4,842 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Westland, MI
|
1,400 | 2,531 | 0 | 1,400 | 2,531 | 3,931 | 71 | 3,860 | 2,625 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Cary, NC (Circuit City)
|
2,264 | 4,581 | 0 | 2,264 | 4,581 | 6,845 | 126 | 6,719 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Charlotte, NC (BJS)
|
4,259 | 11,774 | 0 | 4,259 | 11,774 | 16,033 | 331 | 15,702 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Concord, NC (Eckerd)
|
885 | 2,119 | 0 | 885 | 2,119 | 3,004 | 58 | 2,946 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Raleigh, NC (Eckerd)
|
1,249 | 2,127 | 0 | 1,249 | 2,127 | 3,376 | 59 | 3,318 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Winston-Salem, NC (Wal-Mart)
|
7,156 | 15,010 | 0 | 7,156 | 15,010 | 22,166 | 424 | 21,742 | 0 | S/L 31.5 | 2007(A) |
F-64
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation
(continued) |
||||||||||||||||||||||||||||||||||||||||||||
December 31, 2007 |
Total |
Date |
||||||||||||||||||||||||||||||||||||||||||
(In thousands) |
Cost, |
of |
||||||||||||||||||||||||||||||||||||||||||
Initial Cost | Total Cost (B) |
Net |
Depreciable |
Construction |
||||||||||||||||||||||||||||||||||||||||
Buildings |
Buildings |
of |
Lives |
(C) |
||||||||||||||||||||||||||||||||||||||||
& |
& |
Accumulated |
Accumulated |
(Years) |
Acquisition |
|||||||||||||||||||||||||||||||||||||||
Land | Improvements | Improvements | Land | Improvements | Total | Depreciation | Depreciation | Encumbrances | (1) | (A) | ||||||||||||||||||||||||||||||||||
Buffalo, NY (Eckerd)
|
1,229 | 2,428 | 0 | 1,229 | 2,428 | 3,657 | 67 | 3,591 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Cheektowaga, NY (Eckerd)
|
1,740 | 2,417 | 0 | 1,740 | 2,417 | 4,157 | 66 | 4,092 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Dunkirk, NY
|
0 | 1,487 | 0 | 0 | 1,487 | 1,487 | 41 | 1,446 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Amherst, NY (Eckerd)
|
1,483 | 1,917 | 0 | 1,483 | 1,917 | 3,400 | 53 | 3,348 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Alliance, OH
|
812 | 16,244 | 0 | 812 | 16,244 | 17,056 | 457 | 16,599 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Cincinnati, OH (Kroger)
|
2,805 | 5,028 | 0 | 2,805 | 5,028 | 7,833 | 138 | 7,695 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Steubenville, OH
|
3,324 | 10,423 | 0 | 3,324 | 10,423 | 13,747 | 291 | 13,455 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Weschester, OH
|
1,449 | 3,916 | 0 | 1,449 | 3,916 | 5,365 | 111 | 5,254 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Oklahoma City, OK
|
395 | 1,697 | 0 | 395 | 1,697 | 2,092 | 46 | 2,046 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Cheswick, PA
|
863 | 2,225 | 0 | 863 | 2,225 | 3,088 | 61 | 3,027 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Connelsville, PA
|
1,356 | 2,524 | 0 | 1,356 | 2,524 | 3,880 | 69 | 3,811 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Harborcreek, PA
|
1,062 | 2,124 | 0 | 1,062 | 2,124 | 3,186 | 58 | 3,128 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Erie, PA (Eckerd)
|
958 | 2,223 | 0 | 958 | 2,223 | 3,181 | 61 | 3,121 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Millcreek, PA (Eckerd)
|
1,525 | 2,416 | 0 | 1,525 | 2,416 | 3,941 | 66 | 3,875 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Millcreek, PA (Eckerd)
|
0 | 1,486 | 0 | 0 | 1,486 | 1,486 | 41 | 1,444 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Erie, PA (Eckerd)
|
1,578 | 2,721 | 0 | 1,578 | 2,721 | 4,299 | 74 | 4,225 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Erie, PA (Eckerd)
|
1,641 | 2,015 | 0 | 1,641 | 2,015 | 3,656 | 55 | 3,602 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Penn, PA
|
852 | 2,418 | 0 | 852 | 2,418 | 3,270 | 66 | 3,203 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Monroeville, PA
|
2,863 | 2,935 | 0 | 2,863 | 2,935 | 5,798 | 80 | 5,718 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Monroeville, PA (Eckerd)
|
1,431 | 2,024 | 0 | 1,431 | 2,024 | 3,455 | 55 | 3,399 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
New Castle, PA
|
1,331 | 2,016 | 0 | 1,331 | 2,016 | 3,347 | 55 | 3,292 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Pittsburgh, PA
|
1,771 | 2,523 | 0 | 1,771 | 2,523 | 4,294 | 69 | 4,225 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Plum Borough, PA
|
1,671 | 2,424 | 0 | 1,671 | 2,424 | 4,095 | 66 | 4,029 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Taega Cay, SC
|
1,387 | 2,451 | 0 | 1,387 | 2,451 | 3,838 | 68 | 3,771 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Gaffney, SC
|
1,189 | 2,363 | 0 | 1,189 | 2,363 | 3,552 | 65 | 3,487 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Greenville, SC (Eckerd)
|
1,452 | 1,909 | 0 | 1,452 | 1,909 | 3,361 | 52 | 3,308 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Greenville, SC (Wal-Mart)
|
5,659 | 14,411 | 0 | 5,659 | 14,411 | 20,070 | 409 | 19,662 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Mt. Pleasant, SC (BI-LO)
|
2,420 | 7,979 | 0 | 2,420 | 7,979 | 10,399 | 225 | 10,175 | 6,350 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Piedmont, SC
|
589 | 1,687 | 0 | 589 | 1,687 | 2,276 | 47 | 2,229 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Spartanburg, SC (Blackstock)
|
1,223 | 2,128 | 0 | 1,223 | 2,128 | 3,351 | 59 | 3,292 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Spartanburg, SC (Eckerd)
|
1,255 | 2,226 | 0 | 1,255 | 2,226 | 3,481 | 61 | 3,420 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Woodruff, SC
|
1,145 | 2,353 | 0 | 1,145 | 2,353 | 3,498 | 65 | 3,432 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Chattanooga, TN (PetSmart)
|
1,066 | 3,492 | 0 | 1,066 | 3,492 | 4,558 | 97 | 4,461 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Baytown, TX (Lowes)
|
1,568 | 10,383 | 0 | 1,568 | 10,383 | 11,951 | 289 | 11,662 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Carrolton, TX (CVS)
|
843 | 1,383 | 0 | 843 | 1,383 | 2,226 | 38 | 2,188 | 0 | S/L 31.5 | 2007(A) |
F-65
Developers Diversified Realty
Corporation |
||||||||||||||||||||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation
(continued) |
||||||||||||||||||||||||||||||||||||||||||||
December 31, 2007 |
Total |
Date |
||||||||||||||||||||||||||||||||||||||||||
(In thousands) |
Cost, |
of |
||||||||||||||||||||||||||||||||||||||||||
Initial Cost | Total Cost (B) |
Net |
Depreciable |
Construction |
||||||||||||||||||||||||||||||||||||||||
Buildings |
Buildings |
of |
Lives |
(C) |
||||||||||||||||||||||||||||||||||||||||
& |
& |
Accumulated |
Accumulated |
(Years) |
Acquisition |
|||||||||||||||||||||||||||||||||||||||
Land | Improvements | Improvements | Land | Improvements | Total | Depreciation | Depreciation | Encumbrances | (1) | (A) | ||||||||||||||||||||||||||||||||||
Ft. Worth, TX (CVS)
|
860 | 1,913 | 0 | 860 | 1,913 | 2,773 | 52 | 2,721 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Ft. Worth , TX (CVS)
|
701 | 1,276 | 0 | 701 | 1,276 | 1,977 | 35 | 1,942 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Garland, TX
|
1,567 | 73 | 0 | 1,567 | 73 | 1,640 | 2 | 1,637 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Grand Prairie, TX
|
2,892 | 3,226 | 0 | 2,892 | 3,226 | 6,118 | 94 | 6,025 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Houston, TX
|
4,380 | 8,729 | 0 | 4,380 | 8,729 | 13,109 | 247 | 12,862 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Lake Worth, TX
|
988 | 1,157 | 0 | 988 | 1,157 | 2,145 | 32 | 2,113 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Richland Hills, TX
|
1,094 | 1,605 | 0 | 1,094 | 1,605 | 2,699 | 44 | 2,656 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Plano, TX
|
1,349 | 1,567 | 0 | 1,349 | 1,567 | 2,916 | 43 | 2,873 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Richardson, TX (CVS)
|
967 | 1,694 | 0 | 967 | 1,694 | 2,661 | 46 | 2,615 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Richardson, TX (CVS)
|
1,045 | 1,594 | 0 | 1,045 | 1,594 | 2,639 | 44 | 2,595 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
River Oaks, TX
|
1,011 | 2,005 | 0 | 1,011 | 2,005 | 3,016 | 55 | 2,961 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Rowlett, TX
|
1,241 | 211 | 0 | 1,241 | 211 | 1,452 | 6 | 1,447 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Colony, TX (CVS)
|
1,064 | 1,476 | 0 | 1,064 | 1,476 | 2,540 | 40 | 2,500 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Tyler, TX
|
316 | 1,384 | 0 | 316 | 1,384 | 1,700 | 38 | 1,662 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Wichita Falls, TX (CVS)
|
461 | 1,903 | 0 | 461 | 1,903 | 2,364 | 52 | 2,313 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Wichita Falls, TX (CVS)
|
808 | 1,277 | 0 | 808 | 1,277 | 2,085 | 35 | 2,050 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Fredericksburg, VA
|
1,249 | 3,728 | 0 | 1,249 | 3,728 | 4,977 | 104 | 4,874 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Olympia, WA
|
2,946 | 3,094 | 0 | 2,946 | 3,094 | 6,040 | 86 | 5,953 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Oshkosh, WI
|
1,250 | 3,176 | 0 | 1,250 | 3,176 | 4,426 | 87 | 4,338 | 2,817 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Weirton, WV
|
694 | 2,109 | 0 | 694 | 2,109 | 2,803 | 58 | 2,745 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Lakeland, FL (Highlands)
|
2,800 | 3,148 | 0 | 2,800 | 3,400 | 6,200 | 37 | 6,162 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Plantation, FL (Fountains)
|
20,697 | 36,751 | 0 | 20,697 | 36,757 | 57,454 | 1,018 | 56,435 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Evansville, IN (East)
|
8,964 | 18,764 | 0 | 8,964 | 18,764 | 27,728 | 526 | 27,203 | 0 | S/L 31.5 | 2007(A) | |||||||||||||||||||||||||||||||||
Portfolio Balance (DDR)
|
411,285 | 403,843 | 0 | 411,287 | 403,844 | 815,131 | 18,615 | 796,516 | 347,670 | (2) | S/L 31.5 | |||||||||||||||||||||||||||||||||
$ | 2,483,148 | $ | 5,856,352 | $ | 13,514 | $ | 2,482,682 | (3) | $ | 6,502,056 | (4) | $ | 8,984,738 | $ | 1,024,115 | $ | 7,960,623 | $ | 1,446,516 | |||||||||||||||||||||||||
(1) | S/L refers to straight-line depreciation. | |
(2) | Includes $258.5 million of mortgage debt that encumbers 37 Mervyns sites. | |
(3) | Includes $336.4 million of land under development and asset held for sale at December 31, 2007. | |
(4) | Includes $328.6 million of construction in progress and asset held for sale at December 31, 2007. | |
(B) | The aggregate cost for federal income tax purposes was approximately $8.8 billion at December 31, 2007. |
F-66
2007 | 2006 | 2005 | ||||||||||
Balance, beginning of year
|
$ | 7,442,135 | $ | 7,029,337 | $ | 5,603,424 | ||||||
Acquisitions and transfers from joint ventures
|
3,048,672 | 370,218 | 1,610,808 | |||||||||
Developments, improvements and expansions
|
283,806 | 236,147 | 203,054 | |||||||||
Changes in land under development and construction in progress
|
211,432 | 104,808 | 102,826 | |||||||||
Real estate held for sale
|
(5,863 | ) | (8,558 | ) | | |||||||
Sales and transfers to joint ventures
|
(2,001,307 | ) | (289,817 | ) | (490,775 | ) | ||||||
Balance, end of year
|
$ | 8,978,875 | $ | 7,442,135 | $ | 7,029,337 | ||||||
2007 | 2006 | 2005 | ||||||||||
Balance, beginning of year
|
$ | 861,266 | $ | 692,823 | $ | 568,231 | ||||||
Depreciation for year
|
224,375 | 193,527 | 170,701 | |||||||||
Real estate held for sale
|
(67 | ) | (3,326 | ) | | |||||||
Sales
|
(61,526 | ) | (21,758 | ) | (46,109 | ) | ||||||
Balance, end of year
|
$ | 1,024,048 | $ | 861,266 | $ | 692,823 | ||||||
F-67
By: |
/s/ Scott
A. Wolstein
|
/s/ Scott
A. Wolstein Scott A. Wolstein |
Chairman, Chief Executive Officer and Director
(Principal Executive Officer) |
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/s/ William
H. Schafer William H. Schafer |
Executive Vice President and Chief Financial Officer
(Principal Financial and Accounting Officer) |
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/s/ Christa
A.Vesy Christa A.Vesy |
Senior Vice President and Chief Accounting Officer
|
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/s/ Dean
S. Adler Dean S. Adler |
Director
|
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/s/ Terrance
R. Ahern Terrance R. Ahern |
Director
|
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/s/ Robert
H. Gidel Robert H. Gidel |
Director
|
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/s/ Victor
MacFarlane Victor MacFarlane |
Director
|
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Craig Macnab |
Director
|
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/s/ Scott
D. Roulston Scott D. Roulston |
Director
|
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/s/ Barry
A. Sholem Barry A. Sholem |
Director
|
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/s/ William
B. Summers, Jr. William B. Summers, Jr. |
Director
|