SITE Centers Corp. · NYSE:SITC
SITE Centers — Investor Day (2018)
162 slides from SITE Centers's investor day presentation, 2018
Slide 1: SITE
st TIlE
Slide 2: SITE
SITE
Slide 3: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS The Company considers portions of the information contained in this presentation to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, both as amended, with respect to the Co
Slide 4: SITE
SITE
Slide 5: David Lukes, President & CEO
DAVID LUKES PRESIDENT & CEO
Slide 6: Portfolio quality: income, ABR, MSA concentration
SITE +20% AVG HH INCOME/ ABR/ TAP SCORE 80% IN 12 MSA CONCENTRATION 6
Slide 7: SITE
Slide 8: Footfall, Scarcity, Encumbrances
SITE s Footfall Scarcity Encumbrances DEMAND SUPPLY MARK TO MARKET
Slide 9: ddr
SITE WZ ddr
Slide 10: SITE
SITE 10
Slide 11: oo6
SITE oo6
Slide 12: Footfall
SITE Footfall DEMAND 12
Slide 13: Grocery and market tenants
SITE s FOODS. MARKET 13
Slide 14: SITE
SITE 14
Slide 15: Scarcity
SITE Scarcity SOP RL 15
Slide 16: Encumbrances
SITE Encumbrances MARK TO MARKET 16
Slide 17: Ridge at Creekside mark-to-market ABR
SITE $27.75 ABR (188k SF) $7.80 ABR (100k SF) RIDGE AT CREEKSIDE OSEVILLE, CA 17
Slide 18: s
SITE s 18
Slide 19: SITE
SITE 19
Slide 20: Convenience
SITE Convenience 20
Slide 21: SITE
SITE
Slide 22: Community
SITE Community
Slide 23: SITE
SITE 23
Slide 24: Leasing, Reconfiguration, Redevelopment
SITE LEASING RECONFIGURATION REDEVELOPMENT 24
Slide 25: Attract: 100% leased, ABR uplift
SITE s 100% ap / j A 5 J LEASED ATTRACT ) We Kage \.\: “A LG cs baal s te zs f i P 5 tas 2 bs ABR UPLIFT 25
Slide 26: Attract customers: average HH income
SITE ($122k AVG. HH INCOME ATTRACT CUSTOMERS 26
Slide 27: Attract customers: 100% leased, NOI uplift
SITE 100% LEASED ATTRACT CUSTOMERS 9 5 % NOL UPLIFT
Slide 28: Attract customers: 3-mile population
SITE ATTRACT I! CUSTOMERS — ee DENSITY 30K SF OPPORTUNITY 216k 3-MILE POPULATION 28
Slide 29: Attract customers: grocery sales per SF
SITE $1,200... GROCERY SALES PER SF ATTRACT NOI INCREASE “CUSTOMERS : "i be fy | 39 r) EDGEWATER T¢ 29
Slide 30: Adapt Site Plans
SITE ADAPT SITE PLANS BUILDING RELOCATION 30
Slide 31: Attract / Adapt Site Plans
SITE 1 ATTRACT cu ADAPT SITE PLANS 31
Slide 32: Adapt site plans: incremental ROI
SITE 46k SF OPPORTUNITY 10% INCREMENTAL ROI ADAPT SITE PLANS 32
Slide 33: Adapt site plans: sales per SF
SITE era SALES PER SF ADAPT SITE PLANS THE PROMENADE AT BR BREN 33
Slide 34: Adapt site plans: building adaption
SITE $30MM TJX SALES ADAPT Wee 7) 8) 25k SF BUILDING ADAPTION 34
Slide 35: SITE
SITE 35
Slide 36: Adapt site plans: box split ABR
SITE ADAPT SITE PLANS OLLECTION AT BRANDC * $2 KMART ABR SAD, BOX SPLIT ABR BI 36
Slide 37: s
SITE s 37
Slide 38: 38
38
Slide 39: Add Density
Slide 40: Add Density
Slide 41: Lot coverage and floor area ratio
SITE 0.25 LOT COVERAGE 0.25 3 ] FLOOR AREA RATIO ADD DENSITY Al
Slide 42: Lot coverage and floor area ratio
SITE 0.25 LOT COVERAGE 1.00 3 ] FLOOR AREA RATIO ADD DENSITY
Slide 43: Lot coverage and floor area ratio
SITE 1.00 LOT COVERAGE 1.00 FLOOR AREA RATIO ADD DENSITY 43
Slide 44: a
SITE a 44
Slide 45: Add Density
SITE s ADD DENSITY 45
Slide 46: SITE
SITE 46
Slide 47: SITE
SITE 47
Slide 48: Density
SITE s DENSITY 48
Slide 49: SITE
SITE 49
Slide 50: Only 25% of land generating rent
SITE ABR 12, ONLY 25% OF LAND IS GENERATING RENT AND THEREFORE... BUILDING SF SITE SF 50
Slide 51: Rent per land SF by property type
SITE $18 MULTIFAMILY $1 5 SUBURBAN OFFICE $6 INDUSTRIAL $ 12, SHOPPING CENTERS BUILDING SF SITE SF 5l
Slide 52: Land Use = Tenant Control
SITE Land Use = Tenanmi@ontrel 52
Slide 53: Average HH income and property NOI
SITE ~6$121k AVG. HH INCOME PROPERTY NOI 53
Slide 54: Add Density
SITE s ADD. DENSITY 54
Slide 55: Density
SITE s DENSITY 55
Slide 56: Density
SITE s DENSITY 56
Slide 57: Add density: NOI dilution
SITE 3 ADD DENSITY NOI DILUTION eee Wie MD 57
Slide 58: Add density: average HH income
SITE $135k AVG. HH INCOME ADD (| DENSITY 58
Slide 59: Sandy Plains
SITE 3 ADD DENSITY SANDY PLAINS ROS 59
Slide 60: Density
SITE s DENSITY 60
Slide 61: Sandy Plains
SITE 3 ADD DENSITY | \ SANDY PLAINS RO 6l
Slide 62: Sandy Plains Village: NOI dilution
SITE 3 ADD DENSITY NO! DILUTION SANDY PLAINS VILLAGE L, GA 62
Slide 63: Average HH income
SITE «$147k AVG. HH INCOME DENSITY 63
Slide 64: Fairfax Towne Center: NOI dilution
SITE ADD DENSITY FAIRFAX TOWNE CENTER NO! DILUTION FAIRFAX, VA 64
Slide 65: Site NOI
SITE 15MM SITE NOI ADD DENSITY 65
Slide 66: Shoppers World: NOI dilution
SITE ADD DENSITY NOI DILUTION SHOPPERS V 66
Slide 67: Land Use = Tenant Control
SITE Land Use = Tenanmi@ontrel 67
Slide 68: Landlord control: Shoppers World
SITE s LANDLORD CONTROL SHOPPERS WOR FRAMINGHAM, I 68
Slide 69: Landlord control: Shoppers World
SITE s LANDLORD CONTROL PERS WORL FRAMINGHA\ 69
Slide 70: Landlord Control
SITE LANDLORD CONTROL 70
Slide 71: SITE
SITE 71
Slide 72: Add Density
SITE s ADD DENSITY 72
Slide 73: Peed
SITE Peed a 2) Zs rT) a 3
Slide 74: Shoppers World: NOI dilution
SITE ADD DENSITY NO! DILUTION SHOPPERS V 7A
Slide 75: Retail recapture and site plans
SITE is nega ities! 1G wl H ADD ) a DENSITY y | ~ d0oK SF RETAIL 90k SF RECAPTURED SITE PLANS, 75
Slide 76: Land Use = Tenant Control
SITE Land Use = Tenanmi@ontrel 76
Slide 77: Landlord control: Perimeter Pointe
SITE s LANDLORD CONTROL PERIMETER POINTE 77
Slide 78: Landlord control: Perimeter Pointe
SITE LANDLORD CONTROL PERIMETER POINTE ATLANTA, GA 78
Slide 79: Landlord control: Perimeter Pointe
SITE LANDLORD CONTROL Uv PERIMETER POINTE ATLANTA, GA 79
Slide 80: Add density: Perimeter Pointe
SITE s}1 3 ADD DENSITY PERIMETER POINTE ATLANTA, GA 80
Slide 81: Perimeter Pointe, Atlanta
Slide 82: $0 NOI dilution, Perimeter Pointe
Slide 83: Durability & Growth
Slide 84: Momentum: 30% NOI, 40% GAV
Slide 85: Capital Allocation
Slide 86: Opportunistic Investing
Slide 87: Opportunistic Investing: market likes and dislikes
Slide 88: Melbourne acquisition metrics
Slide 89: Melbourne: $20MM investment, 15% NOI CAGR
Slide 90: Melbourne rendering
Slide 91: 5 Year NAV Growth
Slide 92: SITE logo
Slide 93: Slide 93
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Slide 95: Michael Makinen, Chief Operating Officer
Slide 96: Attract, Adapt Site Plans, Add Density
Slide 97: Attract
Slide 98: Winter Garden Village: 100% leased
Slide 99: Winter Garden Village: 5-mile reach
Slide 100: Winter Garden Village: trade area population
Slide 101: Winter Garden Village: NOI CAGR and ROI
Slide 102: Adapt Site Plans
Slide 103: Wando Crossing: occupancy and income
Slide 104: Wando Crossing: 5-mile reach
Slide 105: Wando Crossing: trade area population
Slide 106: Wando Crossing: Total Wine
Slide 107: Wando Crossing: trade area population
Slide 108: Wando Crossing: expanded trade area
Slide 109: Add Density
Slide 110: Lennox Town Center: 99% occupied
Slide 111: Lennox Town Center: 5-mile reach
Slide 112: Lennox Town Center: trade area population
Slide 113: Lennox Town Center site
Slide 114: Lennox Town Center rendering
Slide 115: Anchor Opportunity
Slide 116: Vacant anchors, lease stage, spreads
Slide 117: Shop Opportunity
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