• Cedar Realty said same-property NOI increased 3.1 percent during the third quarter. Leasing spreads were at 8.2 percent.FFO was $12.0 million, compared to $10.8 million for the same period in 2014.
• Rockville, Md.–based Federal Realty Investment Trust reported third-quarter rollover growth on comparable spaces of 19 percent. The firm generated same-center net operating income growth of 4.2 percent during the period. Funds from operations, meanwhile, came to some $95.2 million, up from $84.5 million a year ago. Rent increases per square foot for comparable retail space averaged 33 percent for the quarter, and average base rent was at $26.01 per square foot. The firm also received bankruptcy court approval to acquire three A&P leases, totaling 184,000 square feet, with an average in-place minimum rent of $11.64 per square foot.
• General Growth Properties posted a third-quarter same-center net operating income increase of 5.1 percent year on year, to $560 million. Funds from operations increased by 10.5 percent to $341 million, from $308 million a year ago. Leasing spreads were at 9.7 percent.
• Inland Real Estate Corp.’s same-center net operating income slipped by 0.6 percent for the third quarter, attributable largely to redevelopment expenses, executives said. Same-center NOI for the nine months ended Sept. 30 increased by 4.1 percent. Average base rent for new leases and renewals signed in the quarter increased by 111.5 percent and 10.1 percent, respectively, over expiring average rents in the year-ago period. Third-quarter funds from operations rose to $24.1 million, from $23.9 million a year ago. The firm’s average rental rate of $13.99 per square foot during the quarter represented an increase of 20.8 percent over the average expiring rent.
• Kimco Realty Corp. said third-quarter rent spreads for new leases rose by 28.6 percent, with overall rent spreads increasing by 10.6 percent. Funds from operations climbed to $163.9 million, up from $159.9 million a year ago, and same-center net operating income increased by 2.4 percent, despite some tenant bankruptcies.
• Oak Brook, Ill.–based Retail Properties of America reported $64.4 million in third-quarter funds from operations, off from $65.7 million a year ago. Same-center net operating income grew by 2 percent. Average base rent per square foot was at $16.17, up 5.4 percent year on year. Leasing spreads were at 19.6 percent on new leases and at 7.3 percent on renewals, for a blended spread of 9.4 percent. The firm is retenanting 15 anchor stores that occupy 537,000 square feet of gross leasable area in the aggregate. The company said it expects to refill those stores at rents up to 15 percent higher.