rainbow global meeting powerpoint 2014
DESCRIPTION
Rainbow/WRI Global Meeting PresentationTRANSCRIPT
Hollywood Hills PlazaHollywood, FL
WRI/Rainbow Portfolio ReviewAugust 6, 2014
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National Leasing TeamPatty BenderExecutive Vice President, Director of Leasing713.866.6010 | [email protected]
WESTERN REGIONTaylor Vaughan303.801.3704 [email protected] Sanchez602.217.8857 [email protected]
MOUNTAIN REGONMiles Sanchez602.217.8857 [email protected] O’Banion972.643.3301 [email protected] Byrd602.217.8842 [email protected]
CENTRAL REGIONGerald Crump713.866.6082 [email protected] Sims713.880.6181 [email protected] Manchi713.866.6907 [email protected] O’Banion972.643.3301 [email protected]
MID-ATLANTIC REGIONLee Brody770.618.1074 [email protected] Wygle770.618.1075 [email protected]
SOUTHEAST REGIONSteve Weingarten954.938.2595 [email protected] Brinkman954.938.2587 [email protected]
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Current Portfolio
Note: as of 9/30/13
ABR ~ 1/3 ABR ~ 1/3ABR ~ 1/3 +WEST
ABR % 17%Occupancy 95.9%GLA 4.2MABR $19.04
CENTRALABR % 33%Occupancy 94.5%GLA 9.9MABR $14.27
MID-ATLANTICABR % 16%Occupancy 92.7%GLA 5.0MABR $15.25
SOUTHEASTABR % 15%Occupancy 95.3%GLA 4.6MABR $15.02
MOUNTAINABR % 19%Occupancy 94.1%GLA 5.9MABR $15.83
WEST MOUNTAIN CENTRAL MID-ATLANTIC SOUTHEAST+
Regional Office
Diverse Tenant Base Creates Stability(% of Total Retail Rental Revenues)As of 09/30/13at pro-rata share
Top 10 tenants represent less than 15.4% of total revenues which diversifies risk
1.0%
1.2% 1.1%1.3%
1.5%
2.4%2.3%
2.0%
1.1%
1.5%
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Internet Resistant
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Internet Vulnerable:- Office- Electronics- Books
Potential Risk:- Some Women’s Apparel- Beauty Supplies- Sporting Goods
% of WRI Rent
76%
13%
10%
Internet Resistant:- Supermarkets- Quick Service and Full
Service Restaurants- Personal Care Services- Medical- Pet Stores and Services- Discount Apparel
77%
YTD 13
27%15%12%12%
9%9%6%4%3%
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Retail Trends
201234%14%11%9%
12%10%6%3%1%
Percentages are based upon the number of leases signed
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Solid Financial Position
Charleston CommonsLas Vegas, NV
Steve Richter, Executive VP and CFO
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Attractive Capital Structure
Debt; 38%
Preferred Shares; 2%
Common Equity60%
Q3 2013: $6.1 BCommon Equity Based on September 30, 2013 closing stock price of
$29.33Debt; 43%
Preferred Shares; 8%
Common Equity49%
Q4 2010: $6.0 BCommon Equity Based on December 31, 2010 closing stock price of
$23.76
Market Capitalization
Insider Ownership of 12%
Growth Environment
Thorncreek CrossingDenver, CO
Robert Smith, Senior VP, New Development
9International Drive Value CenterOrlando, FL
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New Development
• Dynamic mixed-use project with 265,000 sf retail and 100,000 sf office space upon completion• Located north of Ft. Belvoir, the largest employer of Fairfax Co. and an important military intelligence facility
Population:1 Mi: 7,6853 Mi: 81,9495 Mi: 256,333
Average Household Income: 3 Mi: $110,623
Property Size:
265,000 SF
Hilltop Village Center - Alexandria, VA
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Potential New Development
• $130 million total project
• 65,000 sf of retail and 375 residential units with 2 levels of parking
West Seattle - Seattle, WA
• 6 story mixed-use development
• Lennar will construct and sell WRI the retail and 1 level of parking
Potential New Development
Population:5 Mi: 63,000
Average Household Income: 3 Mi: $90,000
College Graduates: 3 Mi: 57%
• Phase 2 of an existing development (owned by others) anchored by Lowes Food and Kohl’s
• Center will cater to the affluent, highly educated consumer base
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Wake Forest Crossing - Raleigh, NC
OWNED BY OTHERS
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Potential New Development
The Parks at Walter Reed- Washington, DC
• WRI chosen by the District of Columbia as part of a team to redevelop the former Walter Reed Army Medical Center
• At completion, the project will consist of three million square feet comprised of 2,000 residential units, 250,000 sf of retail, 190,000 sf of office, 150,000 sf of hospitality and 122,000 sf of arts
• WRI estimated investment of $80 – 100 million for the retail component with projected returns of 8% - 9%
• The full project will be built out over a 10-15 year period
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High Quality Acquisitions
• The Center is the regional retail component of the larger 700 acre, Mixed-Use Mueller Airport redevelopment project
• Major destination within the MSA which benefits from the average daily traffic count of over 240,000 vehicles
Population:1 Mi: 15,5953 Mi: 153,8935 Mi: 324,449
Average Household Income: 1 Mi: $63,9983 Mi: $60,2495 Mi: $69,828
Property Size:
351,099 SF
Mueller Regional Retail Center - Austin, TX
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High Quality Acquisitions
Population:1 Mi: 11,2533 Mi: 46,4795 Mi: 85,823
Average Household Income: 1 Mi: $78,739 3 Mi: $80,3815 Mi: $72,891
Property Size:
335,000 SF
Independence Plaza - Laredo, TX
• High volume HEB anchored shopping center complemented by TJ Maxx and Ross Dress for Less
• Located in the largest population growth area of all metro areas in Texas influenced by the influx of Mexican nationals and jobs created by Eagle Ford Shale
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High Quality Acquisitions
Population:1 Mi: 35,0453 Mi: 201,3965 Mi: 399,578
Average Household Income: 1 Mi: $90,187 3 Mi: $86,9825 Mi: $91,345
Property Size: 81,119 SF
• Dynamic, infill location near downtown Seattle between Puget Sound and the Space Needle
• Over 200,000 people within a 3 mile radius with over 68% holding college degrees
• Anchored by Metropolitan Market, upscale supermarket consistently ranked as the favorite grocer in Seattle by consumers
LEVEL ONE
LEVEL TWO
Queen Anne Marketplace - Seattle, WA
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Land Held Opportunities
Acres, WRI ownership Total Investment
487$101 million
Some Will Be Developed
Decatur 215Las Vegas, NV
Total Land Held as of 9/30/13
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Land Held Opportunities
Users of Land (Multifamily)
Some Will Be Sold
The Shoppes at Caveness Farms
Wake Forest, NC
Crabtree CommonsRaleigh, NC
Anchor Tenants
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Long Term Redevelopment
• Area being re-zoned for high density mixed-use development
• Located between two metro stations
Pike Center - Rockville, MD
20Hollywood Hills PlazaHollywood, FL