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ACQUISITIONS AND DISPOSITIONS
 9 Months Ended
Sep. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
ACQUISITIONS AND DISPOSITIONS ACQUISITIONS AND DISPOSITIONS
Acquisitions
During the nine months ended September 30, 2026, the Company closed on the following acquisitions:
Date PurchasedProperty NameCityStateSquare Feet
Purchase Price(1)
(in thousands)
March 30, 2026The Village at Bridgewater CommonsBridgewaterNJ92,000 $54,312 
July 17, 2026The Shops at West Falls ChurchFalls ChurchVA85,000 40,530 
2026 Total177,000 $94,842 
(1) The total purchase price for the properties acquired during the nine months ended September 30, 2026 includes $0.1 million of transaction costs, net of credits.

On March 30, 2026, the Company closed on the acquisition of The Village at Bridgewater Commons, located in Bridgewater, NJ, for a purchase price of $54.3 million, including credits net of transaction costs. The center comprises 92,000 sf and the acquisition was funded using cash on hand.
On July 17, 2026, the Company closed on the acquisition of The Shops at West Falls Church, located in Falls Church, VA, for a purchase price of $40.5 million, including transaction costs. The grocery-anchored center comprises 85,000 sf and the acquisition was funded using proceeds from the Company’s unsecured line of credit.
No acquisitions were completed by the Company during the nine months ended September 30, 2025.
The aggregate purchase prices of the above property acquisitions have been allocated as follows:
(amounts in thousands)

Property Name		LandBuildings and Improvements
Identified Intangible Assets(1)
Identified Intangible Liabilities(1)
Total Purchase Price
The Village at Bridgewater Commons$6,859 $43,477 $8,638 $(4,662)$54,312 
The Shops at West Falls Church17,305 27,114 3,964 (7,853)40,530 
2026 Total$24,164 $70,591 $12,602 $(12,515)$94,842 
(1) As of September 30, 2026, the remaining weighted average amortization periods of the identified intangible assets and identified intangible liabilities acquired in 2026 were 5.9 years and 11.4 years, respectively.

On May 21, 2026, the Company entered into a purchase and sale agreement (“PSA”) with the ground lessor of certain ground leased premises at Shoppers World in Framingham, MA, to acquire its interest in the ground lease, allowing the Company to take over as lessor for the underlying tenant. Under the terms of the PSA, the Company agreed to pay $10.7 million, including transaction costs, which was paid on June 25, 2026.
On October 14, 2026, the Company closed on the acquisition of Regency Court, located in Boca Raton, FL, for a gross purchase price of $90.3 million. The grocery-anchored center comprises 140,000 sf and the acquisition was funded with borrowings from the Company’s unsecured line of credit and mortgage proceeds from a loan modification.

Dispositions
During the nine months ended September 30, 2026, the Company disposed of one property, receiving proceeds of $26.4 million, net of selling costs, resulting in a $36 million gain on sale of real estate.
On September 2, 2026, the Company completed the sale of Briarcliff Commons, located in Morris Plains, NJ, for a gross sales price of $60.5 million and recognized a gain on sale of real estate of $36 million. The outstanding $30 million mortgage encumbering the property was assumed by the buyer at closing. The sale was structured as part of a reverse Section 1031 exchange with the acquisition of The Village at Bridgewater Commons which closed on March 30, 2026 and the purchase of a lessor position at Shoppers World which closed on June 25, 2026, allowing for the deferral of capital gains resulting from the sale for income tax purposes.
As of September 30, 2026, the Company is under contract to sell a parcel of its Sunrise Mall property, located in Massapequa, NY, for a price of $75.9 million. The transaction is subject to certain closing conditions and regulatory approvals. The property does not meet the criteria to be classified as held for sale as of September 30, 2026.
During the nine months ended September 30, 2025, the Company disposed of two properties and one property parcel and received proceeds of $64.5 million, net of selling costs, resulting in a $49.7 million gain on sale of real estate.
On June 23, 2025, the Company completed the sale of MacDade Commons, located in Glenolden, PA, for a gross sales price of $18.0 million and recognized a gain on sale of real estate of $16.1 million. The sale was structured as part of a forward Section 1031 exchange with the acquisition of Brighton Mills which closed on October 23, 2025, allowing for the deferral of capital gains resulting from the sale for income tax purposes.
On June 9, 2025, the Company completed the sale of Kennedy Commons, located in North Bergen, NJ, for a gross sales price of $23.2 million and recognized a gain on sale of real estate of $20.4 million. The sale was structured as part of a forward Section 1031 exchange with the acquisition of Brighton Mills which closed on October 23, 2025, allowing for the deferral of capital gains resulting from the sale for income tax purposes.
On April 25, 2025, the Company completed the sale of a parcel of its Bergen Town Center East property, located in Paramus, NJ, for a gross sales price of $25.0 million and recognized a gain on sale of real estate of $13.1 million. The sale was structured as part of a reverse Section 1031 exchange with the acquisition of The Village at Waugh Chapel which closed on October 29, 2024, allowing for the deferral of capital gains resulting from the sale for income tax purposes.