1. Abatement hrg/Kmart Corp. - Laserfiche WebLink

IIDfl u.s. Neighborhood Shopping Centers in Age Group 7, 8, and 9 Years Old: Center Size, Center Sales,.. and OperaUng Resuns Number of Centers In Sample: 49 Lower Upper Lower Upper Number Average Median Decile Decile Median DecIle DecIle Reportmg Center Size Total floor space (GLA and all other floor area) Owned gross leasable area (in square feet) 63,495 63,166 41,885 42,080 94,276 93,992 59.002 59,969 48 49 Center Sales Dollars per Square Foot of GLA All tenants $236.83 28 $146.71 $372.66 $237.13 Operating Results Dollars per Square Foot of GLA Percent of Total ReceIpts Total Operating Receipts $9.59 $8.97 $5.73 $16.34 100.00% 100.00'\' 100.00'0 42 Total rent 7.89 7.46 5.26 11.84 82.54 72.56 91.68 44 Rental income-minimum 7.86 7.46 5.26 11.66 82.05 72.02 91.60 44 Rental income-overages 024 0.07 0.02 1.13 0.89 0.09 7.57 16 Total common area charges 0.76 0.64 0.18 1.77 6.66 2.85 14.36 44 Total other charges l.1l3 0.89 0.69 1.88 10.19 5.93 11.88 13 Property taxes and insurance 0.88 0.84 0.20 1.59 9.01 3.43 14.12 23 Property taxes 0.77 0.70 0.21 1.47 7.75 323 1222 40 Insurance 0.07 0.06 0.02 0.19 0.66 020 1.73 23 Other escalation charg",s 0.07 0.06 0.01 0.19 0.67 0.06 2.14 10 Income from sale of utilities 3 Total mlsceHaneous income 0.04 0.02 0.01 0.16 0.19 0.06 0.81 29 Total Operating Expenses 52.48 $2.22 $119 $ 5.15 26.01'\' 16.83% 37.27', 48 Total maintenance and housekeeping 0.85 0.71 0.30 1.60 8.88 5.66 14.28 48 Parking lot, mall. other common areas 0.71 0.64 0.28 1.37 6.58 4.41 11.98 43 Parking lot ~'2 ..J 0.11 0.02 0.25 1.05 028 3.95 41 Utilities 0.17 0.15 0.06 0.35 1.44 0.89 3.46 43 Security 0.14 0.08 0.01 0.33 0.66 0.10 3.75 19 Enclosed mall HVAC 1 Snow removal 0.06 0.03 0.00 0.15 0.47 0.04 2.02 21 Trash removal 0.11 0.13 0.01 0.24 1.19 0.16 2.31 35 Landscaping 0.13 0.10 0.03 0.36 1.18 028 2.47 42 Elevator/escalator 0 Other 0.12 0.08 0.01 0.35 1.04 0.10 2.44 22 Building maintenance 0.17 0.17 0.03 0.35 1.87 0.46 4.36 48 Roof repair 0.03 0.01 0.11 0.35 0.06 1.01 42 Other maintenance 0.12 0.02 0.24 1.26 0.38 327 44 Central utility system 2 Other office area services 0.06 0.01 0.10 8 Total advertising and promotion 0.04 0.02 0.00 0.16 0.21 0.05 0.97 21 Advertising 0.02 0.01 0.00 0.06 0.08 0.03 0.66 14 Promotions/special events 2 Christmas decor/events 0.03 0.03 0.01 0.07 0.21 0.07 028 12 Marketing administration 4 Merchants assodation 3 Total real estate taxes 0.93 0.86 0.37 1.50 9.67 4.52 17.65 49 Total insurance 0.12 0.12 0.06 0.21 1.50 0.46 3.02 48 Uability insurance 0.07 0.01 0.08 0.72 0.08 1.08 30 Property insurance .6 0.06 0.03 0.09 0.62 021 1.33 23 Special (earthquake/fire) 4 Other insurance 0.04 0.01 0.12 5 Total general and administrative 0.51 0.46 0.04 1.17 5.61 0.47 9.26 47 Management agent fees .3 0.32 0.05 0.61 3.19 0.52 4.89 42 Leasing agent fees .19 0.16 0.02 0.40 1.64 027 3.5t 27 Bad debt allowance 4 On-site payroll and benefits 0.53 0.62 2.89 6 Professional services 0.04 0.03 0.00 0.13 0.37 0.07 120 34 Other 0.04 0.01 0.00 0.19 0.12 0.01 1.96 37 Net Operating Balance 5698 56.71 54.13 510.76 73.99'\' 62.73", 83.17% 41 Note: GLA for operating resuits is adjusted as described in Chapter 2. Note: Because data are means, medians, and dedles, detailed amounts do not add to totals. No median figures are shown if fewer than five values were reported for any income or expense category, and no lower and upper decile amounts are shown if fewer than ten values were reported. U.S. Neighborhood Shopping Centers 207