Urban Edge Properties (UE) 2018年年度报告「NYSE」.pdf

1、URBAN EDGE PROPERTIES 2018 ANNUAL REPORT1To Our Shareholders,In 2018,we continued to make significant strides in positioning Urban Edge for the future in a rapidly evolving retail real estate industry.Fundamental changes such as the increasing influence of e-commerce,shifting consumer buying behavio

2、r and recent retailer bankruptcies are requiring retailers and landlords to adapt.At the same time,this changing landscape is creating opportunities for those companies with the foresight and vision to grow in this new environment.We are confident that Urban Edge will be a winner based on the strate

3、gies we have underway,our strong portfolio of urban assets and our competitive position.Specifically,we benefit from the following:1.Our great locations.Our high-quality properties attract best-in-class retailers because of their exceptionallocations.Our portfolio is concentrated in the New York met

4、ropolitan area,the most densely populated andsupply constrained market in the country.Urban Edges portfolio has an average of 164,000 people livingwithin a 3-mile ring,66%higher than the average of our peers,ranking first in the shopping center sectoraccording to Evercore ISI.While much of the Unite

5、d States has excess retail space,our largest submarket,Northern New Jersey,is one of the most supply constrained regions of the country with only 11 square feetof retail gross leasable area per capita.2.Our redevelopment opportunities.Many of our properties are ripe for redevelopment and mixed-usede

6、nsification including residential,office and hotel components.Most of our shopping centers are located onlarge tracts of land(20+acres)where parking accounts for approximately 75%of land usage.The remaining25%is generally a single-story,highly fungible,rectangular building that can be easily reconfi