Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K REGULATION FD DISCLOSURE SUPPLEMENTAL PACKAGE 4Q 2013 - URSTADT BIDDLE PROPERTIES INC | form8k4q2013supplemental.htm |
|
URSTADT BIDDLE PROPERTIES INC.
|
 |
| SUPPLEMENTAL INFORMATION | |
| OCTOBER 31, 2013 | |
|
|
|
|
|
|
URSTADT BIDDLE PROPERTIES INC.
|
|
|
321 RAILROAD AVENUE
|
|
|
GREENWICH, CT 06830
|
|
|
203-863-8200
|
|
|
|
|
|
|
|
URSTADT BIDDLE PROPERTIES INC.
|
|
| SUPPLEMENTAL INFORMATION | |
| OCTOBER 31, 2013 | |
|
|
|
|
|
|
|
|
|
|
TABLE OF CONTENTS
|
|
|
|
|
|
|
|
1 -
|
CORE PORTFOLIO PROPERTY DETAILS
|
|
|
|
|
2 -
|
CORE PORTFOLIO SAME STORE OPERATING INCOME - TWELVE MONTHS AND THREE MONTHS ENDED OCTOBER 31, 2013
|
|
|
|
|
3 -
|
NEW AND RENEWAL LEASING STATISTICS - BY QUARTER AND YEAR TO DATE
|
Urstadt Biddle Properties Inc.
Core Portfolio Properties - Detail
As Of October 31, 2013
|
|
|
|
|
|
|
Gross Leasable Area
|
|
Percentage Leased
|
|
Annualized Base Rent PSF for Leased Space
|
|
Property Demographics ₁
3-Mile Radius
|
|||||||||
|
Property Location
|
Property Name
|
Anchor Tenant's
|
% Owned
|
Year Acquired
|
|
Anchors
|
Shops
|
Total
|
|
Anchors
|
Shops
|
Total
|
|
Anchors
|
Shops
|
Total
|
|
Total Pop.
|
# HH
|
Median HH Income
|
Avg. HH Income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Connecticut
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stamford
|
Ridgeway
|
Stop & Shop Supermarket
|
100%
|
2002
|
|
60,000
|
290,384
|
350,384
|
|
100.0%
|
100.0%
|
100.0%
|
|
$33.71
|
$29.01
|
$29.81
|
|
131,009
|
50,189
|
$86,975
|
$115,118
|
|
Meriden
|
Townline Square
|
Big Y Supermarket & Burlington Coat Factory
|
100%
|
1993
|
|
116,696
|
198,200
|
314,896
|
|
100.0%
|
89.9%
|
93.7%
|
|
$5.89
|
$13.10
|
$10.25
|
|
62,741
|
24,421
|
60,566
|
71,727
|
|
Stratford
|
The Dock
|
Stop & Shop Supermarket & BJ's Wholesale Club
|
100%
|
2005
|
|
167,754
|
108,065
|
275,819
|
|
100.0%
|
84.7%
|
94.0%
|
|
$16.04
|
$21.01
|
$17.79
|
|
85,806
|
33,695
|
62,872
|
71,996
|
|
New Milford
|
New Milford Plaza
|
Wal-Mart & Stop & Shop Supermarket
|
100%
|
2010
|
|
177,028
|
55,716
|
232,744
|
|
100.0%
|
76.9%
|
94.5%
|
|
$6.02
|
$13.29
|
$7.44
|
|
13,962
|
5,470
|
81,914
|
94,523
|
|
Danbury₂
|
Danbury Square
|
Christmas Tree Shops
|
100%
|
1995
|
|
47,555
|
146,407
|
193,962
|
|
100.0%
|
93.6%
|
95.2%
|
|
$23.45
|
$13.95
|
$16.40
|
|
48,060
|
16,719
|
67,221
|
79,878
|
|
Darien
|
Goodwives
|
Stop & Shop Supermarket
|
100%
|
1998
|
|
42,083
|
53,471
|
95,554
|
|
100.0%
|
94.8%
|
97.1%
|
|
$29.73
|
$35.15
|
$32.69
|
|
68,808
|
25,006
|
106,579
|
146,491
|
|
New Milford
|
Veteran's Plaza
|
Big Y Supermarket
|
100%
|
2008
|
|
55,450
|
25,224
|
80,674
|
|
100.0%
|
66.8%
|
89.6%
|
|
$7.12
|
$17.27
|
$9.49
|
|
16,586
|
6,501
|
78,702
|
90,384
|
|
Orange
|
Orange Meadows
|
Trader Joe's Supermarket
|
100%
|
2003
|
|
11,553
|
65,963
|
77,516
|
|
100.0%
|
100.0%
|
100.0%
|
|
$20.72
|
$17.85
|
$18.27
|
|
50,845
|
20,004
|
77,718
|
93,292
|
|
New Milford
|
Fairfield Plaza
|
TJ Max
|
100%
|
2011
|
|
25,257
|
46,830
|
72,087
|
|
100.0%
|
83.9%
|
89.6%
|
|
$12.00
|
$14.45
|
$13.49
|
|
15,385
|
6,058
|
79,473
|
92,109
|
|
Fairfield
|
Fairfield Center
|
Marshalls
|
100%
|
2011
|
|
32,714
|
28,949
|
61,663
|
|
100.0%
|
100.0%
|
100.0%
|
|
$20.25
|
$23.21
|
$21.64
|
|
39,162
|
13,536
|
145,799
|
192,762
|
|
Greenwich Offices
|
N/A
|
Various
|
100%
|
Various
|
|
-
|
57,698
|
57,698
|
|
0.0%
|
82.1%
|
82.1%
|
|
$-
|
$27.98
|
$27.98
|
|
70,820
|
26,000
|
109,587
|
164,731
|
|
Ridgefield
|
N/A
|
N/A
|
100%
|
1998
|
|
-
|
50,852
|
50,852
|
|
0.0%
|
84.6%
|
84.6%
|
|
$-
|
$24.74
|
$24.74
|
|
21,536
|
7,876
|
146,207
|
199,313
|
|
Westport
|
Greens Farm
|
Pier One Imports
|
100%
|
2003
|
|
14,100
|
25,584
|
39,684
|
|
100.0%
|
92.8%
|
95.4%
|
|
$29.73
|
$25.16
|
$26.86
|
|
32,385
|
11,774
|
159,230
|
222,786
|
|
Danbury
|
Airport Plaza
|
Buffalo Wild Wings
|
100%
|
2002
|
|
8,116
|
24,914
|
33,030
|
|
100.0%
|
40.2%
|
54.9%
|
|
$26.95
|
$30.75
|
$29.05
|
|
49,025
|
17,097
|
66,458
|
78,825
|
|
Greenwich
|
Cos Cob Plaza
|
Jos. A Banks Clothing
|
100%
|
2013
|
|
4,025
|
10,580
|
14,605
|
|
100.0%
|
74.4%
|
81.5%
|
|
$38.00
|
$38.17
|
$38.11
|
|
69,025
|
25,447
|
117,146
|
179,593
|
|
Monroe
|
Starbuck's Plaza
|
Starbucks
|
100%
|
2007
|
|
1,658
|
8,483
|
10,141
|
|
100.0%
|
100.0%
|
100.0%
|
|
$38.50
|
$22.81
|
$25.37
|
|
16,558
|
5,814
|
117,079
|
138,773
|
|
Greenwich
|
Greenwich Commons
|
Cosi
|
100%
|
2013
|
|
2,400
|
7,344
|
9,744
|
|
100.0%
|
99.6%
|
99.7%
|
|
$71.00
|
$61.35
|
$63.74
|
|
70,820
|
26,000
|
109,587
|
164,731
|
|
Waterbury
|
N/A
|
Friendly's
|
100%
|
2013
|
|
4,747
|
-
|
4,747
|
|
100.0%
|
0.0%
|
100.0%
|
|
$34.37
|
$-
|
$34.37
|
|
79,359
|
30,649
|
44,216
|
53,565
|
|
Unionville
|
N/A
|
Friendly's
|
100%
|
2013
|
|
3,254
|
-
|
3,254
|
|
100.0%
|
0.0%
|
100.0%
|
|
$15.19
|
$-
|
$15.19
|
|
26,353
|
10,340
|
95,338
|
120,209
|
|
|
|
|
|
|
|
774,390
|
1,204,664
|
1,979,054
|
|
100.0%
|
90.4%
|
94.2%
|
|
$15.07
|
$21.93
|
$19.08
|
|
|
|
|
|
|
New York
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Yorktown
|
Staples Plaza
|
Staples
|
100%
|
2005
|
|
24,000
|
176,367
|
200,367
|
|
100.0%
|
37.5%
|
45.0%
|
|
$16.50
|
$18.21
|
$17.76
|
|
33,270
|
11,759
|
101,560
|
118,703
|
|
White Plains
|
Westchester Pavilion
|
Sports Authority and Toys "R" Us
|
100%
|
2003
|
|
89,850
|
101,006
|
190,856
|
|
100.0%
|
33.2%
|
64.7%
|
|
$25.03
|
$20.77
|
$23.87
|
|
104,063
|
40173
|
104,821
|
132,219
|
|
Ossining
|
Arcadian
|
Stop & Shop Supermarket
|
100%
|
1998
|
|
64,858
|
72,399
|
137,257
|
|
100.0%
|
100.0%
|
100.0%
|
|
$11.26
|
$23.43
|
$17.68
|
|
40,716
|
13,639
|
112,959
|
134,395
|
|
Somers
|
Somers Commons
|
Home Goods
|
100%
|
2003
|
|
30,000
|
104,856
|
134,856
|
|
100.0%
|
92.5%
|
94.2%
|
|
$17.50
|
$20.36
|
$19.69
|
|
33,939
|
12,450
|
103,805
|
115,540
|
|
Carmel
|
Shop Rite Center
|
ShopRite Supermarket
|
100%
|
1995
|
|
48,806
|
80,078
|
128,884
|
|
100.0%
|
95.6%
|
97.3%
|
|
$11.03
|
$13.59
|
$12.59
|
|
17,424
|
6,253
|
93,269
|
105,909
|
|
Somers
|
Somerstown Center
|
CVS
|
100%
|
1999
|
|
14,013
|
66,401
|
80,414
|
|
100.0%
|
90.7%
|
92.3%
|
|
$31.07
|
$29.57
|
$29.85
|
|
18,825
|
7,326
|
119,110
|
143,797
|
|
Orangeburg
|
Orangetown Shopping Center
|
CVS
|
100%
|
2012
|
|
12,410
|
61,849
|
74,259
|
|
100.0%
|
92.7%
|
93.9%
|
|
$28.29
|
$16.49
|
$18.59
|
|
34,668
|
11,883
|
104,300
|
127,658
|
|
Eastchester
|
Eastchester Mall
|
A&P Fresh
|
100%
|
1997
|
|
29,754
|
40,132
|
69,886
|
|
100.0%
|
92.5%
|
95.7%
|
|
$3.71
|
$35.56
|
$21.39
|
|
111,440
|
42,193
|
146,297
|
186,590
|
|
Rye
|
N/A
|
Cosi
|
100%
|
2004
|
|
2,455
|
36,537
|
38,992
|
|
100.0%
|
94.1%
|
94.5%
|
|
$53.04
|
$31.26
|
$32.71
|
|
80,165
|
28,103
|
106,604
|
153,053
|
|
Briarcliff Manor
|
Chilmark
|
Dress Barn
|
100%
|
2001
|
|
4,500
|
33,643
|
38,143
|
|
100.0%
|
100.0%
|
100.0%
|
|
$33.50
|
$24.29
|
$25.38
|
|
55,048
|
18,220
|
121,825
|
150,372
|
|
Ossining
|
Rockledge
|
Westchester Community College
|
100%
|
1999
|
|
12,558
|
16,449
|
29,007
|
|
100.0%
|
100.0%
|
100.0%
|
|
$14.25
|
$19.76
|
$17.37
|
|
40,811
|
13,705
|
112,272
|
133,681
|
|
Katonah
|
N/A
|
Mrs. Green's
|
100%
|
2010
|
|
2,836
|
25,119
|
27,955
|
|
100.0%
|
100.0%
|
100.0%
|
|
$41.48
|
$34.17
|
$34.91
|
|
14,947
|
4,894
|
131,557
|
182,505
|
|
Pelham
|
N/A
|
Gristede's Supermarket
|
100%
|
2006
|
|
10,000
|
15,640
|
25,640
|
|
100.0%
|
88.2%
|
92.8%
|
|
$18.00
|
$32.34
|
$26.31
|
|
297,881
|
112,401
|
61,377
|
76,864
|
|
Eastchester
|
Eastchester Plaza
|
CVS
|
100%
|
2012
|
|
13,506
|
10,195
|
23,701
|
|
100.0%
|
77.9%
|
90.5%
|
|
$27.83
|
$30.43
|
$28.79
|
|
176,909
|
68,597
|
107,873
|
134,690
|
|
Bronxville & Yonkers & Briarcliff
|
N/A
|
People's United Bank & JP Morgan Chase Bank
|
100%
|
2008 & 2009
|
|
19,027
|
2,278
|
21,305
|
|
100.0%
|
99.8%
|
100.0%
|
|
$24.98
|
$14.09
|
$22.54
|
|
265,743
|
101,630
|
67,132
|
81,788
|
|
Somers
|
Heritage 202
|
Putnam County Savings Bank
|
100%
|
1992
|
|
3,184
|
16,074
|
19,258
|
|
100.0%
|
100.0%
|
100.0%
|
|
$41.06
|
$30.18
|
$31.98
|
|
19,978
|
7,698
|
117,392
|
141,086
|
|
Queens
|
N/A
|
Glatt Kosher Restaurant
|
100%
|
2006
|
|
5,070
|
6,060
|
11,130
|
|
100.0%
|
100.0%
|
100.0%
|
|
$31.77
|
$23.91
|
$27.49
|
|
750,164
|
263,302
|
57,704
|
70,799
|
|
Carmel
|
N/A
|
Friendly's
|
100%
|
2013
|
|
3,660
|
-
|
3,660
|
|
100.0%
|
0.0%
|
100.0%
|
|
$35.43
|
$-
|
$35.43
|
|
19,094
|
6,802
|
90,862
|
104,003
|
|
Kingston
|
N/A
|
Friendly's
|
100%
|
2013
|
|
3,460
|
-
|
3,460
|
|
100.0%
|
0.0%
|
100.0%
|
|
$20.51
|
$-
|
$20.51
|
|
19,113
|
7,864
|
49,465
|
59,514
|
|
|
|
|
|
|
|
393,947
|
865,083
|
1,259,030
|
|
99.4%
|
76.1%
|
83.4%
|
|
$18.84
|
$22.96
|
$21.42
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New Jersey
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New Providence
|
Village Shopping Center
|
A&P Supermarket
|
100%
|
2013
|
|
45,540
|
63,016
|
108,556
|
|
100.0%
|
73.0%
|
84.3%
|
|
$20.00
|
$26.55
|
$23.29
|
|
61,922
|
22,078
|
144,650
|
188,830
|
|
Newark
|
Ferry Plaza
|
Pathmark Supermarket
|
84%
|
2008
|
|
63,433
|
44,558
|
107,991
|
|
100.0%
|
74.8%
|
89.6%
|
|
$20.15
|
$28.29
|
$22.95
|
|
217,910
|
72,283
|
42,507
|
51,497
|
|
Wayne
|
Valley Ridge
|
A&P Supermarket
|
100%
|
1992
|
|
36,000
|
66,125
|
102,125
|
|
100.0%
|
89.8%
|
93.4%
|
|
$14.10
|
$29.60
|
$23.75
|
|
229,112
|
74,821
|
59,015
|
70,674
|
|
Emerson
|
Shop Rite Plaza
|
ShopRite Supermarket
|
100%
|
2007
|
|
53,450
|
39,600
|
93,050
|
|
100.0%
|
79.8%
|
91.4%
|
|
$8.95
|
$24.34
|
$14.67
|
|
93,236
|
32,727
|
107,812
|
122,143
|
|
Waldwick
|
N/A
|
Rite Aid
|
100%
|
2007
|
|
20,000
|
-
|
20,000
|
|
100.0%
|
0.0%
|
100.0%
|
|
$22.62
|
$-
|
$22.62
|
|
76,903
|
26,901
|
141,890
|
175,331
|
|
Bernardsville
|
N/A
|
Laboratory Corporation of America
|
100%
|
2013
|
|
1,841
|
12,539
|
14,380
|
|
100.0%
|
69.2%
|
73.2%
|
|
$30.00
|
$23.76
|
$24.85
|
|
19,059
|
6,593
|
145,235
|
207,918
|
|
Chester
|
N/A
|
Clockwork Day Care
|
100%
|
2013
|
|
9,120
|
-
|
9,120
|
|
100.0%
|
0.0%
|
100.0%
|
|
$25.50
|
$-
|
$25.50
|
|
9,450
|
3,192
|
166,057
|
229,638
|
|
Bloomfield
|
N/A
|
Friendly's
|
100%
|
2013
|
|
2,630
|
-
|
2,630
|
|
100.0%
|
0.0%
|
100.0%
|
|
$41.33
|
$-
|
$41.33
|
|
191,823
|
73,393
|
83,381
|
102,344
|
|
Hillsdale
|
N/A
|
Friendly's
|
100%
|
2013
|
|
2,457
|
-
|
2,457
|
|
100.0%
|
0.0%
|
100.0%
|
|
$32.61
|
$-
|
$32.61
|
|
76,705
|
27,153
|
119,354
|
136,990
|
|
|
|
|
|
|
|
234,471
|
225,838
|
460,309
|
|
100.0%
|
79.3%
|
89.8%
|
|
$17.50
|
$27.36
|
$21.77
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Massachusetts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Springfield
|
Five Town Plaza
|
Big Y Supermarket & Burlington Coat Factory
|
100%
|
1970
|
|
147,363
|
181,009
|
328,372
|
|
100.0%
|
81.1%
|
89.6%
|
|
$10.61
|
$10.12
|
$10.36
|
|
71,429
|
26,694
|
57,681
|
67,143
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New Hampshire
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Newington
|
Newington Plaza
|
Savers
|
100%
|
1979
|
|
27,167
|
74,936
|
102,103
|
|
100.0%
|
95.2%
|
96.5%
|
|
$9.80
|
$16.80
|
$14.87
|
|
17,701
|
8,590
|
64,817
|
76,847
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Consolidated
|
|
|
|
|
|
1,577,338
|
2,551,530
|
4,128,868
|
|
99.8%
|
84.1%
|
90.1%
|
|
$15.86
|
$21.72
|
$19.24
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unconsolidated Joint Ventures
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Scarsdale, NY
|
Midway Shopping Center
|
ShopRite Supermarket
|
12%
|
2010
|
|
69,692
|
177,675
|
247,367
|
|
100.0%
|
98.9%
|
99.2%
|
|
$13.44
|
$30.51
|
$25.66
|
|
114,418
|
43,359
|
132,018
|
162,698
|
|
Carmel, NY
|
Putnam Plaza
|
Hannaford Brothers
|
67%
|
2010
|
|
60,858
|
128,387
|
189,245
|
|
100.0%
|
90.0%
|
93.2%
|
|
$6.94
|
$16.53
|
$13.22
|
|
19,114
|
6,812
|
90,765
|
103,841
|
|
Montvale, NJ
|
Chestnut Ridge
|
The Fresh Market Inc.
|
50%
|
2013
|
|
19,205
|
57,060
|
76,265
|
|
100.0%
|
92.3%
|
94.2%
|
|
$22.05
|
$28.45
|
$26.74
|
|
52,743
|
18,568
|
135,691
|
162,154
|
|
Spring Valley, NY
|
Plaza 59
|
Spring Valley Foods Inc.
|
50%
|
2013
|
|
3,355
|
21,000
|
24,355
|
|
100.0%
|
92.9%
|
93.8%
|
|
$36.86
|
$29.92
|
$30.94
|
|
88,092
|
28,853
|
92,610
|
105,302
|
|
Total Unconsolidated
|
|
|
|
|
|
153,110
|
384,122
|
537,232
|
|
100.0%
|
94.6%
|
96.2%
|
|
$12.45
|
$25.73
|
$21.80
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Core Portfolio
|
|
|
|
|
|
1,730,448
|
2,935,652
|
4,666,100
|
|
99.9%
|
85.5%
|
90.8%
|
|
$15.56
|
$22.30
|
$19.55
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note 1 - Demographics provided by Applied Geographic Solutions, 4/2013
Note 2 - Leased square footage includes 65,700 of square feet for Toy's "R" Us and Babies "R" Us at zero rent
1
Urstadt Biddle Properties Inc.
Core Portfolio Same-Store Operating Income Disclosure
(in thousands, except for number of properties and percentages)
|
|
Twelve Months Ended October 31,
|
Three Months Ended October 31,
|
||||||||||||||||||||||
|
|
2013
|
2012
|
% Change
|
2013
|
2012
|
% Change
|
||||||||||||||||||
|
|
||||||||||||||||||||||||
|
|
||||||||||||||||||||||||
|
Number of Properties
|
44
|
44
|
-
|
44
|
44
|
-
|
||||||||||||||||||
|
|
||||||||||||||||||||||||
|
Core property leased rate
|
90.1
|
%
|
89.2
|
%
|
0.9
|
%
|
90.1
|
%
|
89.2
|
%
|
0.9
|
%
|
||||||||||||
|
Core property occupancy rate
|
86.9
|
%
|
88.1
|
%
|
-1.2
|
%
|
86.9
|
%
|
88.1
|
%
|
-1.2
|
%
|
||||||||||||
|
|
||||||||||||||||||||||||
|
Revenue (Note 2)
|
||||||||||||||||||||||||
|
Minimum Rent
|
$
|
65,051
|
$
|
64,585
|
0.7
|
%
|
$
|
16,325
|
$
|
16,158
|
1.0
|
%
|
||||||||||||
|
Recoveries from tenants
|
21,709
|
20,314
|
6.9
|
%
|
$
|
5,195
|
$
|
5,123
|
1.4
|
%
|
||||||||||||||
|
Other property income
|
1,518
|
1,501
|
1.1
|
%
|
$
|
368
|
$
|
293
|
25.6
|
%
|
||||||||||||||
|
|
88,278
|
86,400
|
2.2
|
%
|
21,888
|
21,574
|
1.5
|
%
|
||||||||||||||||
|
|
||||||||||||||||||||||||
|
Expenses
|
||||||||||||||||||||||||
|
Property operating
|
11,793
|
9,868
|
19.5
|
%
|
2,620
|
2,421
|
8.2
|
%
|
||||||||||||||||
|
Property taxes
|
14,619
|
14,716
|
-0.7
|
%
|
3,631
|
3,741
|
-2.9
|
%
|
||||||||||||||||
|
Other non-recoverable operating expenses
|
1,558
|
1,249
|
24.7
|
%
|
211
|
298
|
-29.2
|
%
|
||||||||||||||||
|
|
27,970
|
25,833
|
8.3
|
%
|
6,462
|
6,460
|
0.0
|
%
|
||||||||||||||||
|
|
||||||||||||||||||||||||
|
Net Operating Income
|
$
|
60,308
|
$
|
60,567
|
-0.4
|
%
|
$
|
15,426
|
$
|
15,114
|
2.1
|
%
|
||||||||||||
|
|
||||||||||||||||||||||||
|
Operating Expense Ratio (Note 1)
|
82.2
|
%
|
82.6
|
%
|
-0.5
|
%
|
83.1
|
%
|
83.1
|
%
|
0.0
|
%
|
||||||||||||
|
|
||||||||||||||||||||||||
|
Note 1 - Represents the percentage of property operating expense and real estate tax
expense recovered from tenants under operating leases
|
||||||||||||||||||||||||
|
|
||||||||||||||||||||||||
|
Note 2 - Excludes straight line rent, above/below market rent, lease termination fees.
|
||||||||||||||||||||||||
2
Urstadt Biddle Properties Inc.
Leasing Activity
For The Year Ended October 31, 2013
|
|
Leases
|
Square
|
New Rent
|
Prior Rent
|
Cash Basis
|
|||||||||||||||
|
|
Signed
|
Feet
|
Per Sq. Ft (a)
|
Per Sq. Ft. (a)
|
Change
|
|||||||||||||||
|
|
||||||||||||||||||||
|
Total Comparable Leases:
|
||||||||||||||||||||
|
4th Quarter 2013
|
51
|
191,862
|
$
|
20.15
|
$
|
18.75
|
7.5
|
%
|
||||||||||||
|
3rd Quarter 2013
|
30
|
199,207
|
$
|
13.30
|
$
|
13.20
|
0.8
|
%
|
||||||||||||
|
2nd Quarter 2013
|
40
|
230,595
|
$
|
13.66
|
$
|
14.61
|
-6.5
|
%
|
||||||||||||
|
1st Quarter 2013
|
34
|
146,195
|
$
|
25.27
|
$
|
23.85
|
5.9
|
%
|
||||||||||||
|
Totals
|
155
|
767,859
|
17.40
|
17.04
|
2.1
|
%
|
||||||||||||||
|
|
||||||||||||||||||||
|
New Leases - Comparable:
|
||||||||||||||||||||
|
4th Quarter 2013
|
26
|
46,257
|
$
|
28.66
|
$
|
25.51
|
12.4
|
%
|
||||||||||||
|
3rd Quarter 2013
|
9
|
36,171
|
$
|
15.66
|
$
|
16.60
|
-5.7
|
%
|
||||||||||||
|
2nd Quarter 2013
|
15
|
89,042
|
$
|
14.82
|
$
|
17.76
|
-16.6
|
%
|
||||||||||||
|
1st Quarter 2013
|
16
|
41,459
|
$
|
30.88
|
$
|
26.18
|
18.0
|
%
|
||||||||||||
|
Totals
|
66
|
212,929
|
$
|
21.10
|
$
|
20.89
|
1.0
|
%
|
||||||||||||
|
|
||||||||||||||||||||
|
Renewals - Comparable:
|
||||||||||||||||||||
|
4th Quarter 2013
|
25
|
145,605
|
$
|
17.45
|
$
|
16.60
|
5.1
|
%
|
||||||||||||
|
3rd Quarter 2013
|
21
|
163,036
|
$
|
12.77
|
$
|
12.44
|
2.7
|
%
|
||||||||||||
|
2nd Quarter 2013
|
25
|
141,553
|
$
|
12.94
|
$
|
12.63
|
2.4
|
%
|
||||||||||||
|
1st Quarter 2013
|
18
|
104,736
|
$
|
23.04
|
$
|
22.93
|
0.5
|
%
|
||||||||||||
|
Totals
|
89
|
554,930
|
$
|
15.98
|
$
|
15.56
|
2.7
|
%
|
||||||||||||
|
|
||||||||||||||||||||
|
(a) New rent per sq. ft. represents the minimum cash rent under the new lease for the first 12 months of the term. Prior rent per sq.
|
||||||||||||||||||||
|
ft. represents the minimum cash rent under the prior lease for the last 12 months of the previous term.
|
||||||||||||||||||||
3