SAUL CENTERS, INC. - FORM 10-Q - EX-99.A - EXHIBIT 99.A - May 4, 2017

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10-Q - 10-Q - SAUL CENTERS, INC.bfs-03312017x10q.htm


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exhibit 99 (a)
Saul Centers, Inc.
Schedule of Current Portfolio Properties
March 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Leasable Area (Square Feet)
 
Year Acquired or Developed (Renovated)
 
Land Area (Acres)
 
Percentage Leased as of March 31,
 
(1)
 
 
Property
 
Location
 
 
 
 
2017
 
2016
 
2015
 
2014
 
2013
 
Anchor / Significant Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shopping Centers
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ashburn Village
 
Ashburn, VA
 
221,585

 
1994-2006
 
26.4

 
91
%
 
93
%
 
93
%
 
93
%
 
92
%
 
Giant Food, Hallmark Cards, McDonald's, Burger King, Dunkin Donuts, Kinder Care
 
Ashland Square Phase I
 
Dumfries, VA
 
23,120

 
2007
 
2.0

 
100
%
 
100
%
 
100
%
 
100
%
 
100
%
 
Capital One Bank, CVS Pharmacy, The All American Steakhouse
 
Beacon Center
 
Alexandria, VA
 
358,071

 
1972 (1993/99/07)
 
32.3

 
100
%
 
100
%
 
100
%
 
100
%
 
93
%
 
Lowe's Home Improvement Center, Giant Food, Home Goods, Outback Steakhouse, Marshalls, Party Depot, Panera Bread, TGI Fridays, Starbucks, Famous Dave's, Chipotle
 
BJ's Wholesale Club
 
Alexandria, VA
 
115,660

 
2008
 
9.6

 
100
%
 
100
%
 
100
%
 
100
%
 
100
%
 
BJ's Wholesale Club
 
Boca Valley Plaza
 
Boca Raton, FL
 
121,269

 
2004
 
12.7

 
95
%
 
100
%
 
94
%
 
93
%
 
92
%
 
Publix, Wells Fargo, Palm Beach Fitness, Anthony's Clothing
 
Boulevard
 
Fairfax, VA
 
49,140

 
1994 (1999/09)
 
5.0

 
100
%
 
100
%
 
98
%
 
95
%
 
100
%
 
Panera Bread, Party City, Petco
 
Briggs Chaney MarketPlace
 
Silver Spring, MD
 
194,258

 
2004
 
18.2

 
93
%
 
99
%
 
99
%
 
99
%
 
99
%
 
Global Food, Ross Dress For Less, Family Dollar, Advance Auto Parts, McDonald's, Wendy's
 
Broadlands Village
 
Ashburn, VA
 
174,734

 
2003/4/6
 
24.0

 
78
%
 
98
%
 
93
%
 
93
%
 
85
%
 
The All American Steakhouse, Bonefish Grill, Dollar Tree, Starbucks, Minnieland Day Care
 
Burtonsville Town Square
 
Burtonsville, MD
 
121,132

 
2017
 
26.3

 
100
%
 
N/A

 
N/A

 
N/A

 
N/A

 
Giant Food, Petco, Starbucks, Green Turtle
 
Countryside Marketplace
 
Sterling, VA
 
138,229

 
2004
 
16.0

 
94
%
 
93
%
 
91
%
 
93
%
 
86
%
 
Safeway, CVS Pharmacy, Starbucks, McDonald's
 
Cranberry Square
 
Westminster, MD
 
141,450

 
2011
 
18.9

 
100
%
 
100
%
 
97
%
 
98
%
 
95
%
 
Giant Food, Staples, Party City, Pier 1 Imports, Jos. A. Bank, Wendy's, Giant Gas Station
 
Cruse MarketPlace
 
Cumming, GA
 
78,686

 
2004
 
10.6

 
94
%
 
92
%
 
88
%
 
84
%
 
84
%
 
Publix, Subway, Orange Theory
 
Flagship Center
 
Rockville, MD
 
21,500

 
1972, 1989
 
0.5

 
100
%
 
100
%
 
100
%
 
100
%
 
100
%
 
Capital One Bank
 
French Market
 
Oklahoma City, OK
 
246,148

 
1974 (1984/98)
 
13.8

 
98
%
 
98
%
 
99
%
 
100
%
 
87
%
 
Burlington Coat Factory, Bed Bath & Beyond, Staples, Petco, The Tile Shop, Lakeshore Learning Center, Dollar Tree, Verizon, Raising Cane's
 
Germantown
 
Germantown, MD
 
18,982

 
1992
 
2.7

 
100
%
 
100
%
 
100
%
 
81
%
 
81
%
 
CVS Pharmacy, Jiffy Lube
 
The Glen
 
Woodbridge, VA
 
136,440

 
1994 (2005)
 
14.7

 
97
%
 
95
%
 
94
%
 
97
%
 
98
%
 
Safeway Marketplace, The All American Steakhouse, Panera Bread, Five Guys, Chipotle
 
Great Eastern
 
District Heights, MD
 
255,398

 
1972 (1995)
 
31.9

 
93
%
 
94
%
 
73
%
 
74
%
 
75
%
 
Pep Boys, No Excuse Workout, Kool Smiles
 
Great Falls Center
 
Great Falls, VA
 
91,666

 
2008
 
11.0

 
98
%
 
99
%
 
100
%
 
96
%
 
98
%
 
Safeway, CVS Pharmacy, Capital One Bank, Starbucks, Subway, Long & Foster
 
Hampshire Langley
 
Takoma Park, MD
 
131,700

 
1972 (1979)
 
9.9

 
100
%
 
100
%
 
100
%
 
100
%
 
100
%
 
Mega Mart, Radio Shack, Starbucks, Chuck E. Cheese's, Sardi's Chicken
 
Hunt Club Corners
 
Apopka, FL
 
105,882

 
2006
 
13.9

 
93
%
 
94
%
 
94
%
 
97
%
 
94
%
 
Publix, Pet Supermarket, Sprint
 
Jamestown Place
 
Altamonte Springs, FL
 
96,341

 
2005
 
10.9

 
96
%
 
91
%
 
90
%
 
89
%
 
91
%
 
Publix, Carrabas Italian Grill
 
Kentlands Square I
 
Gaithersburg, MD
 
114,381

 
2002
 
11.5

 
98
%
 
100
%
 
100
%
 
100
%
 
100
%
 
Lowe's Home Improvement Center, Chipotle
 
 
 
 
 
 
 
Saul Centers, Inc.
 
Schedule of Current Portfolio Properties
 
March 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Leasable Area (Square Feet)
 
Year Acquired or Developed (Renovated)
 
Land Area (Acres)
 
Percentage Leased as of March 31,
 
(1)
 
 
Property
 
Location
 
 
 
 
2017
 
2016
 
2015
 
2014
 
2013
 
Anchor / Significant Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shopping Centers (continued)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Kentlands Square II
 
Gaithersburg, MD
 
246,965

 
2011
 
23.4

 
100
%
 
100
%
 
98
%
 
99
%
 
96
%
 
Giant Food, Kmart, Party City, Panera Bread, Not Your Average Joe's, Payless Shoes, Hallmark, Chick-Fil-A, Coal Fire Pizza, Tommy Joe's, Cava Mezza Grill, Zengo Cycle, Fleet Feet
 
Kentlands Place
 
Gaithersburg, MD
 
40,697

 
2005
 
3.4

 
100
%
 
100
%
 
96
%
 
100
%
 
100
%
 
Elizabeth Arden's Red Door Salon, Bonefish Grill
 
Lansdowne Town Center
 
Leesburg, VA
 
189,422

 
2006
 
23.4

 
96
%
 
87
%
 
98
%
 
98
%
 
94
%
 
Harris Teeter, CVS Pharmacy, Panera Bread, Not Your Average Joe's, Starbucks, Capital One Bank, Ford's Fish Shack, Fusion Learning
 
Leesburg Pike Plaza
 
Baileys Crossroads, VA
97,752

 
1966 (1982/95)
 
9.4

 
95
%
 
100
%
 
100
%
 
96
%
 
100
%
 
CVS Pharmacy, Party Depot, FedEx Office, Verizon Wireless
 
Lumberton Plaza
 
Lumberton, NJ
 
192,718

 
1975 (1992/96)
 
23.3

 
92
%
 
90
%
 
93
%
 
94
%
 
93
%
 
Aldi Grocery, Rite Aid, Virtua Health Center, Family Dollar, Retro Fitness, Big Lots, Pet Valu
 
Metro Pike Center
 
Rockville, MD
 
67,488

 
2010
 
4.6

 
71
%
 
89
%
 
80
%
 
92
%
 
84
%
 
McDonald's, Dunkin Donuts, 7-Eleven
 
Shops at Monocacy
 
Frederick, MD
 
109,144

 
2004
 
13.0

 
100
%
 
100
%
 
97
%
 
93
%
 
93
%
 
Giant Food, Giant Gas Station, Panera Bread, Starbucks, Five Guys, California Tortilla, Firehouse Subs, Comcast
 
Northrock
 
Warrenton, VA
 
99,789

 
2009
 
15.4

 
99
%
 
92
%
 
95
%
 
87
%
 
82
%
 
Harris Teeter, Longhorn Steakhouse, Ledo's Pizza, Capital One Bank, Jos. A Bank, Novant Health
 
Olde Forte Village
 
Ft. Washington, MD
 
143,577

 
2003
 
16.0

 
96
%
 
97
%
 
99
%
 
97
%
 
96
%
 
Safeway, Advance Auto Parts, Dollar Tree, McDonald's, Wendy's, Ledo's Pizza
 
Olney
 
Olney, MD
 
53,765

 
1975 (1990)
 
3.7

 
90
%
 
93
%
 
89
%
 
94
%
 
94
%
 
Rite Aid, Olney Grill, Ledo's Pizza, Popeye's, Sardi's Fusion Restaurant
 
Orchard Park
 
Dunwoody, GA
 
87,365

 
2007
 
10.5

 
99
%
 
97
%
 
98
%
 
97
%
 
92
%
 
Kroger, Subway, Jett Ferry Dental
 
Palm Springs Center
 
Altamonte Springs, FL
 
126,446

 
2005
 
12.0

 
100
%
 
100
%
 
91
%
 
98
%
 
98
%
 
Safeway, Duffy's Sports Grill, Toojay's Deli, The Tile Shop, Rockler Tools, Humana Health
 
Ravenwood
 
Baltimore, MD
 
93,328

 
1972 (2006)
 
8.0

 
100
%
 
99
%
 
99
%
 
94
%
 
91
%
 
Giant Food, Starbucks, Sleepy's, Dominos, Bank of America
 
11503 Rockville Pk / 5541 Nicholson Ln
 
Rockville, MD
 
40,249

 
2010 / 2012
 
3.0

 
63
%
 
22
%
 
63
%
 
70
%
 
70
%
 
Dr. Boyd's Pet Resort, Metropolitan Emergency Animal Clinic
 
1500/1580/1582/1584 Rockville Pike
 
Rockville, MD
 
110,128

 
2012/2014
 
10.3

 
97
%
 
90
%
 
86
%
 
100
%
 
91
%
 
Party City, CVS Pharmacy, Sheffield Furniture
 
Seabreeze Plaza
 
Palm Harbor, FL
 
146,673

 
2005
 
18.4

 
98
%
 
95
%
 
95
%
 
97
%
 
91
%
 
Publix, Earth Origins Health Food, Petco, Planet Fitness, Vision Works
 
Marketplace at Sea Colony
 
Bethany Beach, DE
 
21,677

 
2008
 
5.1

 
94
%
 
95
%
 
91
%
 
95
%
 
90
%
 
Seacoast Realty, Armand's Pizza, Candy Kitchen, Summer Salts, Fin's Alehouse
 
Seven Corners
 
Falls Church, VA
 
573,481

 
1973 (1994-7/07)
 
31.6

 
100
%
 
100
%
 
100
%
 
100
%
 
100
%
 
The Home Depot, Shoppers Food & Pharmacy, Michaels Arts & Crafts, Barnes & Noble, Ross Dress For Less, Ski Chalet, Off-Broadway Shoes, JoAnn Fabrics, Dress Barn, Starbucks, Dogfishhead Ale House, Red Robin Gourmet Burgers, Chipotle, Wendy's, Burlington Coat Factory
 
Severna Park Marketplace
 
Severna Park, MD
 
254,174

 
2011
 
20.6

 
99
%
 
98
%
 
100
%
 
100
%
 
100
%
 
Giant Food, Kohl's, Office Depot, A.C. Moore, Goodyear, Chipotle, McDonald's, Jos. A. Bank, Radio Shack, Five Guys, Unleashed (Petco), Mod Pizza, Jersey Mike's
 
Shops at Fairfax
 
Fairfax, VA
 
68,762

 
1975 (1993/99)
 
6.7

 
97
%
 
97
%
 
98
%
 
96
%
 
100
%
 
Super H Mart
 
 
 
 
 
Saul Centers, Inc.
 
Schedule of Current Portfolio Properties
 
March 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Leasable Area (Square Feet)
 
Year Acquired or Developed (Renovated)
 
Land Area (Acres)
 
Percentage Leased as of March 31,
 
(1)
 
 
Property
 
Location
 
 
 
 
2017
 
2016
 
2015
 
2014
 
2013
 
Anchor / Significant Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shopping Centers (continued)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Smallwood Village Center
 
Waldorf, MD
 
173,341

 
2006
 
25.1

 
83
%
 
68
%
 
72
%
 
74
%
 
70
%
 
Safeway, CVS Pharmacy, Family Dollar
 
Southdale
 
Glen Burnie, MD
 
484,035

 
1972 (1986)
 
39.6

 
99
%
 
95
%
 
89
%
 
88
%
 
97
%
 
The Home Depot, Michaels Arts & Crafts, Marshalls, PetSmart, Value City Furniture, Athletic Warehouse, Starbucks, Gallo Clothing, Office Depot, The Tile Shop, Mercy Health Care, Massage Envy, Potbelly
 
Southside Plaza
 
Richmond, VA
 
371,761

 
1972
 
32.8

 
91
%
 
98
%
 
98
%
 
98
%
 
98
%
 
Community Supermarket, Maxway, Citi Trends, City of Richmond, McDonald's, Burger King, Kool Smiles, Falla's
 
South Dekalb Plaza
 
Atlanta, GA
 
163,418

 
1976
 
14.6

 
90
%
 
91
%
 
95
%
 
94
%
 
88
%
 
Maxway, Big Lots, Emory Clinic, Dollar Tree, Shoe Land
 
Thruway
 
Winston-Salem, NC
 
366,693

 
1972 (1997)
 
31.5

 
98
%
 
96
%
 
97
%
 
95
%
 
94
%
 
Harris Teeter, Trader Joe's, Stein Mart, Talbots, Hanes Brands, Jos. A. Bank, Bonefish Grill, Chico's, Ann Taylor Loft, Rite Aid, FedEx Office, Plow & Hearth, New Balance, Aveda Salon, Christies Hallmark, Carter's Kids, McDonald's, Chick-Fil-A, Wells Fargo Bank, Francesca's Collections, Great Outdoor Provision Company, White House / Black Market, Soma, J Crew
 
Village Center
 
Centreville, VA
 
146,032

 
1990
 
17.2

 
98
%
 
96
%
 
98
%
 
96
%
 
99
%
 
Giant Food, Tuesday Morning, Starbucks, McDonald's, Pet Supplies Plus, Bikram Yoga
 
Westview Village
 
Frederick, MD
 
97,858

 
2009
 
11.6

 
94
%
 
100
%
 
93
%
 
88
%
 
86
%
 
Silver Diner, Sleepy's, Music & Arts, Firehouse Subs, CiCi's Pizza, Café Rio, Five Guys, Regus, Krispy Kreme, Damascus Community Bank
 
White Oak
 
Silver Spring, MD
 
480,676

 
1972 (1993)
 
27.9

 
100
%
 
100
%
 
100
%
 
100
%
 
100
%
 
Giant Food, Sears, Walgreens, Boston Market, Sarku, Capital One Bank
 
 
 
 
Total Shopping Centers
(3)
8,003,186

 
 
 
784.9

 
95.9
%
 
95.8
%
 
94.8
%
 
94.8
%
 
93.6
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Saul Centers, Inc.
Schedule of Current Portfolio Properties
March 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Leasable Area (Square Feet)
 
Year Acquired or Developed (Renovated)
 
Land Area (Acres)
 
Percentage Leased as of March 31,
 
(1)
 
 
Property
 
Location
 
 
 
 
2017
 
2016
 
2015
 
2014
 
2013
 
Anchor / Significant Tenants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mixed-Use Properties
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Avenel Business Park
 
Gaithersburg, MD
 
390,683

 
1981-2000
 
37.1

 
88
%
 
87
%
 
89
%
 
92
%
 
82
%
 
General Services Administration, Gene Dx, Inc., American Type Culture Collection, Inc.
 
Clarendon Center-North Block
 
Arlington, VA
 
108,387

 
2010
 
0.6

 
99
%
 
99
%
 
96
%
 
96
%
 
96
%
 
Pete's New Haven Pizza, AT&T Mobility, Airline Reporting Corporation
 
Clarendon Center-South Block
 
Arlington, VA
 
104,894

 
2010
 
1.3

 
100
%
 
100
%
 
100
%
 
100
%
 
100
%
 
Trader Joe's, Circa, Burke & Herbert Bank, Bracket Room, Winston Partners, Keppler Speakers Bureau, ECG Management Co., Leadership Institute, Capital One
 
Clarendon Center Residential-South Block (244 units)
 
188,671

 
2010
 
 
 
97
%
 
99
%
 
98
%
 
99
%
 
100
%
 
 
 
Park Van Ness- Residential (271 units)
 
Washington, DC
 
214,600

 
2016
 
1.4

 
87
%
 
N/A

 
N/A

 
N/A

 
N/A

 
 
 
Park Van Ness-Retail
 
Washington, DC
 
8,847

 
2016
 


 
100
%
 
N/A

 
N/A

 
N/A

 
N/A

 
Soapstone Market, Sfoglina Pasta House
 
601 Pennsylvania Ave.
 
Washington, DC
 
227,651

 
1973 (1986)
 
1.0

 
100
%
 
99
%
 
98
%
 
95
%
 
95
%
 
National Gallery of Art, America's Health Insurance Plans, Credit Union National Assn., Southern Company, HQ Global, Freedom Forum, Capital Grille, Michael Best & Friedrich LLP
 
Washington Square
 
Alexandria, VA
 
236,376

 
1975 (2000)
 
2.0

 
88
%
 
91
%
 
92
%
 
86
%
 
87
%
 
Vanderweil Engineering, Freeman Expositions, Cooper Carry, Marketing General, Alexandria Economic Development, Trader Joe's, FedEx Office, Talbots, Sunday in Saigon Restaurant, Starbucks, National Pace Association, Virginia ABC
 
 
 
 
Total Mixed-Use Properties
(3)
1,480,109

 
 
 
43.4

 
93.0
%
 
92.4
%
 
93.6
%
 
92.6
%
 
89.1
%
 
(2)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Portfolio
(3)
9,483,295

 
 
 
828.3

 
95.6
%
 
95.4
%
 
94.7
%
 
94.6
%
 
93.0
%
 
(2)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Land and Development Parcels
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ashland Square Phase II
 
Manassas, VA
 
 
 
2004
 
17.3

 
Marketing to grocers and other retail businesses, with a development timetable yet to be finalized.
 
N. Glebe Road
 
Arlington, VA
 
 
 
2014-2016
 
2.8

 
Zoning and site plan approval received from Arlington County, Virginia for the development of approximately 490 residential units and 62,000 square feet of retail space.
 
New Market
 
New Market, MD
 
 
 
2005
 
35.5

 
Parcel will accommodate retail development in excess of 120,000 SF near I-70, east of Frederick, Maryland. A development timetable has not been determined.
 
 
 
 
Total Development Properties
 
 
 
55.6

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1
)
 
Percentage leased is a percentage of rentable square feet leased for commercial space and a percentage of units leased for apartments. Includes only operating properties owned as of
March 31, 2017. As such, prior year totals do not agree to prior year tables.
 
 
(2
)
 
Total percentage leased is for commercial space only.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(3
)
 
Prior year leased percentages for Total Shopping Centers, Total Mixed-Use Properties and Total Portfolio have been recalculated to exclude the impact of properties sold or removed from service and, therefore, the percentages reported in this table may be different than the percentages previously reported.


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