1. Abatement hrg/Kmart Corp. - Laserfiche WebLink

ImII1 u.s. Neighborhood Shopping Centers in the Midwest: Center Size, Center Sales, and Operallng Results Number of Centers In Sample: 54. Lower Upper Lower Upper Number Average Median Decile Decile Median Decile Decile Reporting ltfilill~.., ....~ Total floor space (GLA and all other floor area) Owned gross leasable area (in square feet) 63,950 61.397 61,560 53.979 38,264 35,901 94,615 94,018 52 54 Center Sales Dollars per Square Foot of GLA All tenants 1..m:nil~:f;l':IT1l... _iii f.'1,lm::ri:I i1iTiW:f:.lM::.IleU.. Total rent Rental income-minimum Rental income-overages Total common area charges Total other charges Property taxes and insurance Property taxes Insurance Other escelation charges Income from sale of utilities Total misceUaneous income $217.83 $201.48 $116.23 $349.19 'li1If:I""'1.~J..u.t=Ij(=II;r.ri1i6l.~.' :l::llef~illfil.IiIJ.i1.:[:lt{:n;ll; 23 $10.91 S10.58 56.08 $17.34 100.00% 100.00% 100.00% 48 8A6 8.36 4.87 12.91 80.77 65.54 90.28 50 8.35 8.35 3.75 12.69 75.32 64.48 89.36 50 0.34 024 0.03 0.96 2.05 027 13.55 17 1.02 0.89 0.27 2.26 8.70 3.62 15.58 48 UO 1.29 8.56 9 1.36 125 0.40 2.59 10.81 6.17 17.90 34 1.38 1.16 0.34 3.20 12.17 5.53 21.16 45 0.10 0.09 0.02 0.26' 0.78 022 1.94 34 4 0.08 0.10 0.75 5 0.07 0.07 0.00 0.16 0.41 0.04 1.73 22 Total Operating Expenses $ 3.46 $3.40 51.42 $ 5.94 31.23% 17.570/0 45.380/0 51 Total maintenance and housekeeping 1.05 0.98 0.43 1.18 10.32 4.86 15.81 51 Parking lot, mall, other common areas 0.80 0.77 0.35 1.31 6.95 3.96 11.55 47 Parking lot ("0. ffJ 0.12 ~ 0.04 0.27 1.12 0.45 2.69 40 Utilities 0.19 0.16 0.08 0.41 1.45 0.61 3.68 47 Security 0.04 0.03 0.01 0.11 0.22 0.08 0.74 24 Enclosed mall HVAC 3 Snow removal 0.11 0.10 0.01 0.28 0.93 0.13 2.41 41 Trash removal 0.10 0.08 0.01 0.26 0.69 0.10 2.08 29 Landscaping 0.10 0.08 0.03 0.24 0.70 0.31 2.02 41 Elevator/escalator 2 Other 0.13 0.07 0.01 0.43 0.78 0.08 5.04 30 Building maintenance 029 023 0.08 0.66 2.68 0.58 6.06 49 Roof repair o. 0.04 0.00 0.21 0.33 0.06 223 40 Other maintenance 0 1 0.16 0.04 0.51 1.78 029 4.96 45 Central utility system 3 Other office area services 4 Total advertising and promotion 0.06 0.02 0.00 0.25 0.25 0.02 1.75 35 Advertising 0.03 0.01 0.00 0.12 0.11 0.02 1.35 24 Promotions/special even1s 0.05 0.04 0.60 9 Christmas decor/events 0.03 0.03 0.01 0.07 0.22 10 Marke1ing administration 0.10 0.07 5 Merchan1S assodation 0.04 0.01 5 Total real estate taxes 1.32 1.24 0.39 3.25 12.17 6.17 22.05 51 Total insurance 0.12 0.11 0.05 0.26 1.06 0.49 3.03 52 Uability insurance ~ . . 0.64'. 0.01 0.09 0.39 0.11 1.70 22 Property insurance 0.06 0.05 0.02 0.15 0.66 020 1.35 21 Special (earthquake/lire) 0.03 0.02 0.18 7 Other insurance 0.Q1 0.01 0.08 6 Total general and administrative 0.77 0.80 0.21 1.58 6.25 3.49 11.75 48 Management agent fees .0.46 0.14 0.69 3.98 2.69 5.03 39 Leasing agent fees 024 0.18 0.04 0.58 1.64 0.45 4.40 25 Bad debt allowance 024 0.12 1.32 7 On-site payroll and benefi1S 0.40 0.42 4.99 9 Professional services 0.08 0.07 0.01 0.18 0.59 0.14 1.54 38 Other 0.06 0.04 0.01 0.20 0.35 0.05 2.19 32 Net Operating Balance $ 7.52 $7.38 $3.80 $12.30 68.77% 54.62% 82.43% 46 Note; GLA for operating results 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 nq lower and upper decile amounts are shown if fewer than ten values were reported. U.S. Neighborhood Shopping Centers 201