What Cedar Realty Trust reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
The following tables present an overview of our properties and undeveloped land as of December 31, 2025:
The rest of Item 2
Property · Location · NumberofTenants · TotalLeasableSquareFeet · PercentageLeased · PercentageOccupied · TotalOccupiedSquareFeet · AnnualizedBaseRent (1) · AnnualizedBase RentperOccupiedSquare Foot
Brickyard Plaza · Berlin, CT · 11 · 227,598 · 100.0 · 100.0 · 227,598 · 2,106,000 · 9.25
Coliseum Marketplace · Hampton, VA · 10 · 106,648 · 100.0 · 100.0 · 106,648 · 1,301,000 · 12.20
Fairview Commons · New Cumberland, PA · 10 · 50,485 · 80.3 · 80.3 · 40,555 · 514,000 · 12.66
Gold Star Plaza · Shenandoah, PA · 6 · 71,720 · 97.8 · 97.8 · 70,120 · 664,000 · 9.46
Golden Triangle · Lancaster, PA · 19 · 202,790 · 90.0 · 90.0 · 182,440 · 2,780,000 · 15.24
Hamburg Square · Hamburg, PA · 7 · 102,058 · 100.0 · 100.0 · 102,058 · 735,000 · 7.20
Patuxent Crossing · California, MD · 27 · 264,068 · 78.2 · 78.2 · 206,609 · 1,866,000 · 9.03
Pine Grove Plaza · Brown Mills, NJ · 17 · 79,306 · 89.9 · 89.9 · 71,306 · 886,000 · 12.43
Southington Center · Southington, CT · 7 · 155,842 · 89.8 · 89.8 · 139,903 · 1,000,000 · 7.15
Timpany Plaza · Gardner, MA · 18 · 182,820 · 82.8 · 82.8 · 151,460 · 1,571,000 · 10.37
Trexler Mall · Trexlertown, PA · 24 · 342,541 · 99.7 · 99.7 · 341,544 · 4,016,000 · 11.76
Washington Center Shoppes · Sewell, NJ · 31 · 157,300 · 98.1 · 98.1 · 154,300 · 2,120,000 · 13.74
Total · 187 · 1,943,176 · 92.4 · 92.4 · 1,794,541 · 19,559,000 · 10.90
(1)Monthly base rent on occupied space as of the end of the current reporting period multiplied by twelve months, excluding the impact of tenant concessions and rent abatements.
Undeveloped Land · Location · Parcel Size (in acres)
South Philadelphia parcel · Philadelphia, PA · 1.35
Major Tenants
The following table sets forth information regarding the ten largest tenants in our operating portfolio based on annualized base rent as of December 31, 2025:
Tenants · Category · AnnualizedBase Rent · % ofTotalAnnualizedBase Rent · TotalOccupiedSquare Feet · PercentTotalLeasableSquare Feet · AnnualizedBase Rentper OccupiedSquare Foot
Kohl's · Discount Retailer · 1,049,000 · 5.4 · 147,000 · 7.6 · 7.14
Lehigh Valley Health · Health · 819,000 · 4.2 · 44,000 · 2.3 · 18.61
Redner's · Grocery · 757,000 · 3.9 · 106,000 · 5.5 · 7.14
TJX Companies (1) · Discount Retailer · 743,000 · 3.8 · 133,000 · 6.8 · 5.59
Home Depot · Home Improvement · 742,000 · 3.8 · 103,000 · 5.3 · 7.20
Urban Air · Entertainment · 624,000 · 3.2 · 61,000 · 3.1 · 10.23
Dollar Tree · Discount Retailer · 588,000 · 3.0 · 77,000 · 4.0 · 7.64
Michaels · Hobby/Craft · 557,000 · 2.8 · 45,000 · 2.3 · 12.38
LA Fitness · Gym · 515,000 · 2.6 · 45,000 · 2.3 · 11.44
Onelife Fitness · Gym · 505,000 · 2.6 · 58,000 · 3.0 · 8.71
Total · 6,899,000 · 35.3 · 819,000 · 42.1 · 8.42
(1)Marshalls 3 / HomeGoods 2
Lease Expirations
The following table sets forth information with respect to the lease expirations of our properties as of December 31, 2025:
Lease Expiration Period · Number ofExpiringLeases · TotalExpiringSquareFootage · % of TotalExpiringSquareFootage · % of TotalOccupiedSquareFootageExpiring · ExpiringAnnualizedBase Rent · % of TotalAnnualizedBase Rent · ExpiringBase Rentper OccupiedSquare Foot
Available · — · 148,635 · 7.7 · — · — · — · —
Month-To-Month · 2 · — · — · — · 2,000 · — · —
2026 · 12 · 24,354 · 1.3 · 1.4 · 533,000 · 2.7 · 21.89
2027 · 26 · 193,383 · 10.0 · 10.8 · 2,092,000 · 10.7 · 10.82
2028 · 34 · 275,494 · 14.2 · 15.4 · 3,118,000 · 15.9 · 11.32
2029 · 31 · 194,523 · 10.0 · 10.8 · 2,419,000 · 12.4 · 12.44
2030 · 26 · 432,644 · 22.3 · 24.1 · 3,275,000 · 16.7 · 7.57
2031 · 18 · 165,025 · 8.5 · 9.2 · 2,064,000 · 10.6 · 12.51
2032 · 10 · 69,939 · 3.6 · 3.9 · 1,162,000 · 5.9 · 16.61
2033 · 7 · 120,851 · 6.2 · 6.7 · 1,472,000 · 7.5 · 12.18
2034 · 7 · 150,784 · 7.8 · 8.4 · 1,362,000 · 7.0 · 9.03
Thereafter · 14 · 167,544 · 8.6 · 9.3 · 2,060,000 · 10.5 · 12.30
Total · 187 · 1,943,176 · 100.0 · 100.0 · 19,559,000 · 100.0 · 10.90
The Company's Properties
The terms of the Company's retail leases generally vary from tenancies at will to 25 years, excluding renewal options. Anchor tenant leases are typically for 10 to 25 years, with one or more renewal options available to the lessee upon expiration of the initial lease term. By contrast, smaller store leases are typically negotiated for five-year terms. The longer terms of major tenant leases serve to protect the Company against significant vacancies and to assure the presence of strong tenants which draw consumers to its centers. The shorter terms of smaller store leases allow the Company under appropriate circumstances to adjust rental rates periodically and, where possible, to upgrade or adjust the overall tenant mix.
Most leases contain provisions requiring tenants to pay their pro rata share of real estate taxes, insurance and certain operating costs. Some leases also provide that tenants pay percentage rent based upon sales volume generally in excess of certain negotiated minimums.
WHLR performs property management and leasing services for the Company pursuant to the Wheeler Real Estate Company Management Agreement (as defined below). See Note 15 of "Notes to Consolidated Financial Statements" included in Item 8 below for further information.