1. Abatement hrg/Kmart Corp. - Laserfiche WebLink

ImI!! u.s. Community Shopping Centers in I~e Midwest: Cenler Size, Center Sales, and OperaUngResulls'- Number at Centers In Sample: 84- _ Lower. Upper Lower Upper Number Average Median Decile. Decile Median DecIle Decile Reporting ..r:mrna....,'... Total floor space(GLA and all other floor area) Owned gross leasable area (in square feet) 180,243 160,637 156.894 147,970 112,609 87,754 338;986 294;244 il4 '84. Center Sales Dollars per Square Fool of GLA All tenants $232.80 . $212.83 $121.08 $428.19 62 l!I,T:1r:1ffiT.-.:mmll... .Ii1lnl........l;&..-I.lunI=ailiTil61.~.' "':Jlftl=,lllili1.Ii1F.1.:t=II[~I.lt.. .mF-lI."T:TiiIfTiTiI;1~et;lI')'" "t~~.. ~..I 111'.'11__. .11'1'11_. Total rent 8.39 4.32 15.30 78.69 6120 90.29 70 Rental income-minimum 8.34 3.80 15.29 77.36 59.40 87.95 70 Rental income-overages 0.16 0.03 0.78 2.01 0.19 10.63 46 Total common area charges 0.89 0.19 2.36 7.99 3.92 15.90 67 Total other charges 1.63 0.49 5.45 11.62 6.65 25.77 37 Property taxes and insurance 1.12 0.18 3.32 10.27 3.33 18.77 46 Property taxes 1.25 0.21 3.74 9.77 4.59 19.90 66 Insurance 0.06 0.02 0.17 0.60 0.18 1.41 46 Other escalation charges 0.22 0.03 1.48 1.31 0.29 8.Q1 19 Income from sale of utilities 0.13 0.02 0.60 1.26 Q.16 5.46. 18 Total misceUaneous income 0.05 0.01 0.56 0.53 0.06 4.21 53 Total Ope rat 109 Expenses $ 3.65 $ 3.47 $1.19 S 7.95 31.43% 17090~ 56.050, 78 Total maintenance and housekeeping 0.88 0.84 0.11 2.43 8.40 3.86 22.68 78 Parking lot, mall, other common areas 0.78 0.73 0.32 1.46 7.02 3.63 13.97 66 Parking lot 0.12 0.11 0.04 0.27 1.18 0.36 3.02 63 Utilities 0.19 0.15 0.05 0.64 1.50 0.60 4.89 65 Securily 0.07 0.05 0.00 0.22 0.43 0.06 2.56 39 Enclosed mall HVAC 0.06 0.03 0.00 0.20 0.16 0.03 1.72 14 Snow removal 0.10 0.10 0.01 0.24 0.66 0.10 2.10 62 Trash removal 0.05 0.02 0.00 0.15 0.24 0.03 1.30 56 Landscaping 0.10 0.06 0.02 0.23 0.84 0.31 1.59 65 Elevator/escalator 0.01 0.01 0.12 6 Other 0.19 0.13 0.01 0.58 1.26 0.19 4.46 47 Building maintenance 0.19 0.12 0.03 0.67 1.39 0.35 620 75 Roof repair 0.04 0.03 0.01 0.13 0.30 0.04 .1.56 59 Other maintenance 0.15 0.09 0.01 0.61 1.07 0.13 5.94 63 Central utility system 4 Other office area services 4 Total advertising and promotion 0.17 0.06 0.01 . 0.83 1.00 0.16 5.03 47 Advertising 0.12 0.04 0.00 0.57 0.71 0.03 3.47 28 Promotionslspecial events 0.11 0.03 0.00 0.37 0.35 0.01 2.39 16 Christmas decor/events 0.04 0.02 0.01 0.15 0.22 0.11 0.51 21 Marketing administration 0.12 0.03 0.01 0.46 0.32 0.08 3.02 12 Merchants association 0.08 0.05 0.47 9 Total real estate taxes 1.60 1.51 0.43 3.91 12.54 7.71 25.28 76 Total insurance 0.12 0.12 0.06 0.20 1.06 0.52 2.63 78 Liability insurance 0.06 0.07 om 0.11 0.48 0.15 1.11 37 Property'insurance 0.05 --0.04 0.02 0.10 0.33 0.15 0.93 34 Special (earthquake/lire) 0.02 0.02 0.14 9 Other insurance 0.01 0.01 0.00 0.Q3 0.10 0.02 0.68 20 Total general and administrative 0.71 0.57 0.25 1.69 6.13 2.10 15.12 77 Management agent fees 0.40 0.39 0.19 0.75 3.20 2.10 5.19 56 Leasing agent fees 0.12 0.06 0.01 0.67 0.50 0.05 5.31 43 Bad debt allowance 0.14 0.09 0.02 0.36 1.43 0.14 3.95 26 On-site payroll and benefits 026 0.19 0.04 0.68 1.92 0.64 6.38 29 Professional services 0.10 0.06 0.01 0.32 0.84 0.14 3.30 65 Other 0.08 0.05 0.01 0.26 0.46 0.04 2.90 62 Net Operating Balance $ 7.40 $ 6.99 $2.30 $13.14 68.57% 43.95~o 82.9P, 67 Note: GLA for operating results is adjusted as described in Chapjer 2. Note: Because da18 are means, medians, and deciles, detailed amounts do not add to to18is. No median figures are shown if fewer than five values were reported tor any income or expense category, and no lower and upper decile amounts are shown if fewer than len values were reported. U.S. Community Shopping Centers 135