Date: Fri, 19 Dec 1997 15:49:17 GMT Server: Stronghold/1.3b4 Ben-SSL/1.3 Apache/1.1.1 Content-type: text/html Price REIT Property Info
PORTFOLIO

  

Property Portfolio as of 6/30/97
Location Year (1)
Completed
Land
Area
(Acres)
Gross Leasable
Area (sq. ft)
(Thousands)
No. of
Tenants
Percent
Leased
Annualized
BaseRent
(2)
(Thousands)
Selected Major
Tenants
Power Centers:
Alhambra, CA 1988 18.4 201 10 100.0% $2,109 Costco, Levitz.
Austin, TX 1997 18.2 182 10 98.1% 2,581 Babies 'R' Us,Circuit City, Cost Plus,Designer Shoe Warehouse, Just for Feet, Mikasa
Bellingham,WA(Acquired 10/17/97)              
Carmichael, CA 1994 18.5 215 13 98.0% 2,229 Home Depot, Sports Authority, Longs Drug
Cerritos, CA (Sold) (3) 1987 16.3 172 11 97.7% 1,834 Home Depot, AMC Theatres, L.A. Fitness
Chula Vista, CA 1988 31.3 371 22 99.8% 2,642 Costco, HomeBase, Levitz, Pep Boys
Copiague, NY (4) 1990 15.4 190 5 100.0% 2,057 Home Depot, Office Max, Jack LaLanne (Bally's Total Fitness)
Corona, CA 1989 54.4 487 48 98.4% 5,163 Costco, Home Depot, Levitz, Ross Dress for Less, Bally’s Total Fitness, Office Max
Dallas, TX 1995 6.8 84 6 100.0% 914 Office Max, Ross Dress for Less
Fairfax, VA 1993 37.0 323 6 100.0% 3,717 Costco, Home Depot, Sports Authority
Farmington, CT (Acquired 8/28/97)              
Garland (Dallas), TX 1991 6.3 62 3 100.0% 524 Office Depot, Drug Emporium
Glendale, AZ 1989 40.5 340 22 100.0% 3,142 Costco, Home Base, Levitz
Glendale (Talavi) AZ,(5) 1995 7.1 55 18 100.0% 514 Sears Homelife, Michael's
Greensboro, NC 1996 4.4 41 6 100.0% 560 Staples, David's Bridal
Houston, TX 1993 40.0 426 17 100.0% 2,714 Sears Homelife, Oshmans Super Sport, Best Buy, Bed, Bath & Beyond, Stein Mart, Builders Square, Sony Theaters
La Mirada, CA 1993 31.2 279 49 96.3% 3,377 Toy's R Us/Kid's R Us,, Sav-On Drugs, L.A. Fitness, Krikorian Theatres, U.S. Post Office
Mesquite (Dallas), TX 1992 15.0 210 8 100.0% 1,480 Sears Homelife,Best Buy,General Cinema, PetsMart
Minnetonka, MN (Acquired 10/8/97)              
North Haven, CT 1988 31.7 332 19 100.0% 2,810 BJ's Wholesale Club (6), Home Depot, XPect Drug,T.J. Maxx
North Phoenix, AZ 1997 17.0 216 9 100.0% 1,520 Burlington Coat Factory, Computer City, Staples, Petco, Michael's
Oklahoma City, OK 1994 19.8 234 10 93.0% 1,744 Home Depot, Best Buy, HomePlace
Orlando, FL (Acquired 8/29/97)              
Oxnard, CA 1990 14.4 172 4 100.0% 1,073 Target, Ralphs (Food 4 Less), 24 Hour Fitness
Phoenix, AZ 1989 26.6 335 11 96.9% 2,134 Costco, HomeBase, PetsMart
Phoenix,(Hayden Plaza Nth.), AZ (5) (7) 1973 6.7 95 11 85.2% 330 Home Depot, Stool & Dinette, Autozone
Piscataway, NJ (Acquired 10/31/97)              
Richardson (Dallas), TX 1994 11.7 116 7 100.0% 924 Office Max, Bally's Total Fitness
Tempe, AZ (5) 1994 21.1 192 26 96.8% 2,097 HomeBase, Sports Authority, L.A.Fitness, PetsMart, Staples
White Marsh, MD 1991 25.3 210 7 99.0% 1,355 Costco, Sports Authority, Pep Boys, PetsMart
Wichita, KS 1995 13.5 134 9 100.0% 1,136 Best Buy, T.J.Maxx, Michael's
Woodbridge, VA 1996 54.0 483 45 95.8% 5,014 Lowe's, Shoppers Food Warehouse, Best Buy, Kids 'R' Us, Zany Brainy, PetsMart, Super Trak Auto, Super Crown
Stand Alone Retail Warehouse:
Santa Ana, CA 1995 12.0 134 1 100.0% 1,765 Home Depot
Power Center under Development:
Houston (I10/Fry), TX (5) n/a 23.3 n/a n/a n/a n/a  
Long Island, NY (8) n/a 32.2 n/a n/a 100.0% n/a Borders Books
Vacant Land for Development:
Goodyear, AZ (5) n/a 20.0 n/a n/a n/a n/a  
Houston, TX (9) n/a 9.7 n/a n/a n/a n/a  
Total/Average:
 

 

699.8 6,314 414 98.4% $57,932
 

 

Footnotes:
(1) Represents the year in which the property was completed or the year in which the most significant expansion or renovation was completed, which in certain instances precedes the date the property was acquired by the Company.

(2) Total annualized contract base rents excluding (i) percentage rents, (ii) additional rent payable by tenants such as common area maintenance, real estate taxes and other expense reimbursements, and (iii) future contractual rent escalations or cost of living increases.

(3) The Cerritos, California property was sold on July, 9, 1997. The Company currently intends to acquire one or more replacement properties in order to complete the transaction as a tax-deferred exchange.

(4) Reflects the sale of a portion of the property (approximately 9.2 acres) to Target, pursuant to an executed agreement, and the related demolition of certain buildings on such parcel. Target has advised the Company that it intends to construct a new store on the parcel.

(5) Reflects the Company's 50% ownership interest in the above properties, except for the number of tenants (if applicable) which is shown at 100%.

(6) Sublesee of Costco.

(7) The center's shop tenant leases are being terminated in preparation for major redevelopment.

(8) Reflects the Company's 90% ownership interest in the above propery, except for the number of tenants which is shown at 100%. The Company expects that the center will be substantially completed by the end of the third quarter of 1997.

(9) This vacant land is adjacent and contiguous to the Company's center located in Houston, Texas.

Subsequent Events: (See also current Press Releases)

(1) Westfarms Shopping Center, Farmington, CT, was acquired by The Company on August 28, 1997 (see Press Release).

(2) Renaissance Centre, Altamonte Springs, Orlando, FL was acquired by The Company on August 29, 1997 (see Press Release).

(3) Ridgedale Festival Shopping Center, Minnetonka, MN was acquired by The Company on October 8, 1997 (see Press Release).

(4) Cordata Centre, Bellingham, WA was acquired by The Company on October 17, 1997 (see Press Release).

(5) Piscataway Towne Center, Piscataway, NJ was acquired by The Company on October 31, 1997 (see Press Release).

 

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