• Acadia Realty Trust reported same-center NOI growth of 0.8 percent for the second quarter, thanks in part to a re-leasing spread of 8.7 percent. The firm, which specializes in urban and street retail locations, has two ongoing redevelopments, in Chicago and San Francisco. “Our second-quarter operating results exceeded our expectations but, more importantly, we continued to put the key drivers of our long-term growth plan into place,” said President and CEO Kenneth F. Bernstein in a press release. “We have made significant progress on both our 2018 lease-up goals.” The REIT’s fund platform, which looks for properties to buy, fix and sell, will continue to seek retail centers in nonprime markets, he said. One of the firm's funds acquired a 242,000-square-foot shopping center in Elk Grove, Calif., for $59.3 million during the quarter.

• CBL Properties says same-center NOI declined by 6.9 percent for the second quarter. Same-center sales per square foot for the stabilized mall portfolio through the twelve months ended June 30 were at $376 per square foot, versus $375 per square foot for the year-ago comparable period. The drop in NOI is attributable to an $8.3 million decrease in revenue and a $3.1 million increase in operating expenses. Minimum rents and tenant reimbursements declined by $8.7 million during the quarter, related primarily to store closures and rent concessions for tenants in bankruptcy. "We are diversifying our tenant mix, with more than 60 percent of new leases executed year-to-date representing nonapparel uses," said CEO Stephen D. Lebovitz, in a press release. "In addition, we are replacing former anchors with dynamic new uses, which will generate higher levels of traffic and sales. Just last week we signed a new lease for a 100,000-square-foot casino, entertainment and dining complex to replace a former Bon-Ton location at Westmoreland Mall, in Greensburg, Pennsylvania."

• Federal Realty said same-center POI (property operating income) grew by 3.6 percent in the second quarter. POI is a metric that excludes assets that were not owned for the full quarter in both periods presented and which are currently under development or are being repositioned for significant redevelopment and investment. The re-leasing spread was at 10 percent. “We’ve done and continue to do a really good job managing expenses in this environment, both at our corporate and the property level,” said President and CEO Donald Wood during an earnings call. “We do so without compromising the customer experience at our properties. Property-level-expense savings achieved through aggressive negotiations and constant focus on scope are shared with our tenants, which have the added benefit of relieving rent pressure, to an extent. It’s an underrated but an important balance of professional shopping center management, something we pay a lot of attention to.”

• PREIT reported same-store NOI growth of 10.7 percent in the second quarter. The re-leasing spread per square foot was at 7.5 percent, thanks in part to the addition of such tenants as Burlington, City Winery, Dick's Sporting Goods, Fatburger, Forever 21, Maggie McFly's, REI, Studio Movie Grill and Urban Outfitters to its properties. Tenant sales per square foot was at $489. “We have now completed the transition into a high-quality mall REIT,” said CEO Joseph F. Coradino. “As we look toward near-term execution of our first multifamily addition, we are redefining the mall paradigm and have created a commanding portfolio supported by powerful demographics where our guests can shop, dine, play, work and stay. This course of action is delivering increased traffic and sales, which we expect will drive shareholder value.”

• Regency Centers saw a 4.2 percent surge in same-center NOI during the second quarter. Base rent growth contributed 3.2 percent of that, according to the firm. Rent spreads on comparable new and renewal leases for the trailing twelve months were at 9.4 percent and 6 percent, respectively, with total rent growth of 6.7 percent. “Leasing fundamentals continue to be healthy across the portfolio,” said Jim Thompson, executive vice president of operations. “We have solid demand for our premier portfolio as tenants continue to validate the importance of high-quality locations as they thoughtfully execute their expansion plans. We’ve had great success in embedding contractual rent increases into our executed leases over the past several years, which is translating into our strong same-property NOI performance.” As of June 30, the REIT had 21 properties in development or redevelopment, representing a total investment of $348.5 million.

• Second-quarter NOI increased by 2.7 percent across Weingarten Realty’s 190-center portfolio. Rental rates on new leases and renewals were up by 21.4 percent and 7.1 percent, respectively. “The impact of tenant closures has been relatively muted,” said Executive Vice President and COO Johnny Hendrix in a press release. Hendrix says the REIT anticipates that the Toys 'R' Us bankruptcy will reduce occupancy by about 0.7 percent, beginning in the third quarter, and trim back revenue by about $900,000 over the balance of the year as the company lines up new tenants. “We have great interest in all of these locations," Hendrix said, "and should have rent back on-line for all of them within 18 months.”