Current Portfolio
Underlying Bromont's success is its diverse portfolio featuring anchored neighborhood and community shopping centers. We currently own twenty-nine (29) shopping centers consisting of over three million SF of GLA, one (1) class "A" office building, and one (1) multi-tenant light industrial park. Bromont's current portfolio is in fifteen (15) states and the District of Columbia, concentrated in the eastern half of the United States. Our properties feature a mix of retailers that provide basic consumer goods and services such as grocery and drug stores that are in strong demand in their trade areas. By focusing on well located properties and on providing everyday essentials, our shopping centers have steady traffic which translates into strong tenant sales and consistent cash flow return.
Bromont currently has approximately three hundred (300) tenants leasing ninety-one percent (91%) of Gross Leasable Area of which eighty-seven percent (87%) is leased to national or strong regional retailers and twelve percent (12%) leased to local retailers.
In August '04, when the Glimcher Portfolio was acquired, vacancy stood at sixteen and eight tenths percent (16.8%), CAM leakage was over one million five hundred fifty thousand dollars ($1,550,000 (37% of total operating expense)), and NOI per square foot of Gross Leaseable Area was four dollars and twenty seven cents ($4.27). As of April '05, eight months later, vacancy has been reduced to just over eight percent (8%), CAM leakage reduced to eight hundred fifty nine thousand dollars ($859,000 (22% of total operating expense)), and NOI per square foot of Gross Leaseable Area has increased ten and eight tenths percent (10.8%) to four dollars and sixty five cents per square foot ($4.65). The portfolio has minimum exposure to any single credit tenant as shown below.
| Property |
% sf |
% Gross Collections |
| Kroger |
7.37 |
6.70 |
| K-Mart |
10.63 |
6.47 |
| Wal-Mart |
10.85 |
5.27 |
| Hobby Lobby |
3.83 |
3.59 |
| CVS |
1.89 |
2.10 |
| Food Lion |
2.09 |
1.90 |
| Fashion Bug |
1.41 |
1.87 |
| Ingles |
3.01 |
1.82 |
| Walgreens |
0.86 |
1.26 |
| Rural King |
3.05 |
1.13 |
| Radio Shack |
0.58 |
1.10 |
Current Portfolio
Retail
| Location |
City |
State |
Size |
| Meridian Village |
Bellingham |
Washington |
231,000 SF |
Glimcher Shopping Center Portfolio
| Location |
City |
State |
Size |
| Bollweevil Shopping Center |
Enterprise |
Alabama |
44,000 SF |
| Rend Lake Shopping Center |
Benton |
Illinois |
122,000 SF |
| Westpark Plaza |
Carbondale |
Illinois |
56,000 SF |
| Artesian Square |
Martinsville |
Indiana |
197,000 SF |
| Clarksville Plaza |
Clarksville |
Indiana |
113,000 SF |
| Walgreens |
New Albany |
Indiana |
13,000 SF |
| Ashland Plaza |
Russell |
Kentucky |
133,000 SF |
| Audubon Village |
Henderson |
Kentucky |
121,000 SF |
| Logan Plaza |
Russellville |
Kentucky |
115,000 SF |
| Prestonsburg Village |
Prestonsburg |
Kentucky |
176,000 SF |
| Walgreens |
Louisville |
Kentucky |
13,000 SF |
| Gratiot Center |
Saginaw |
Michigan |
202,000 SF |
| Alliance K-Mart Shopping Center |
Alliance |
Nebraska |
41,000 SF |
| Canal Place Plaza |
Rome |
New York |
33,000 SF |
| North Horner Shopping Center |
Sanford |
North Carolina |
40,000 SF |
| Walnut Cove |
Walnut Cove |
North Carolina |
59,000 SF |
| Hocking Valley Mall |
Lancaster |
Ohio |
180,000 SF |
| New Boston Mall |
Portsmouth |
Ohio |
129,000 SF |
| Stewart Plaza |
Mansfield |
Ohio |
16,000 SF |
| Corry Plaza |
Corry |
Pennsylvania |
109,000 SF |
| Liberty Plaza |
Morristown |
Tennessee |
59,000 SF |
| Monroe Shopping Center |
Madisonville |
Tennessee |
94,000 SF |
| Sycamore Square |
Ashland |
Tennessee |
103,000 SF |
| Twin County Plaza |
Galax |
Virginia |
161,000 SF |
| Shady Springs |
Beckley |
West Virginia |
68,000 SF |
Business Park
| Location |
City |
State |
Size |
| Northeast Business Park |
Dallas |
Texas |
115,763 SF |
