FREQUENTLY ASKED QUESTIONS

Curbline properties generate their own traffic based on their location on the curbline of major vehicular corridors providing access, visibility and convenience to the tenants that operate in the centers. As a result, they are not reliant on adjacent real estate or retail anchors to drive traffic. In fact, Convenience centers, whether they are located adjacent to a shopping center or on a standalone parcel, achieve 3.5x more customers per square foot than anchored retail, supporting higher rents and retention rates as well as broad tenant demand. 

Curbline properties are primarily occupied by a mixture of national, credit tenants and well-established local tenants often times with multiple units or locations through a city or region. The access, visibility, and standardized unit sizes within Curbline’s properties attract a diverse group of tenants, with significant interest from public QSR operators, banks, medical, and other service and errands driven users. 

There is a significant addressable market for Convenience real estate in the United States with over 68,000 Convenience properties representing over 950 million square feet according to ICSC. These centers account for 60% of total shopping centers by count and almost 13% by GLA. The Curbline portfolio as of today represents just 0.2% of the total addressable market and, when combined with Curbline’s projected balance sheet, provides a significant growth opportunity across the suburban United States. 

Simple layouts with relatively small parking lots offer low touchpoint properties from an operating efficiency and capital perspective. The standardized site plans and unit sizes of Convenience properties and elevated retention rates result in limited operating capital expenditures (7% average as % of NOI from 2020 to 2024), generating substantial free cash flow on an absolute and relative basis. 

Curbline properties boast elevated renewal rates and significant tenant tenure driven by consistent and elevated traffic based on their location on major vehicular corridors. The properties, often with drive-thru units, offer excellent access and visibility for a wide range of service-based users looking to operate within suburban communities.