Alexander Babbage - Shopping Center Industry Social Media Benchmark Report Year End 2010

8/8/2019 Alexander Babbage - Shopping Center Industry Social Media Benchmark Report Year End 2010

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2011AlexanderBabbage,Inc. AllRightsReservedwww.alexanderbabbage.com

ShoppingCenterSocialMedia

BenchmarkReport

YearEnd2010

1201PeachtreeStreetNE,Suite500

Atlanta,GA 30309

Phone:(404)9617600

www.alexanderbabbage.com


2/22


YearEnd2010

2011AlexanderBabbage,Inc. AllRightsReserved 2


Summary

With

more

than

500

million1

active

users

on

Facebook

and

more

than

175

million2

active

users

on

Twitter, it isapparentwhythesenetworksaregrowing frompersonalcommunicationtoolstooutlets

thatgivebusinessesandbrandsavoiceamongtheircustomersandcompetitors.Withthecompletionof

2010camenewsocialmedia benchmarkdata onU.S.shopping centers 300,000square feetor larger

thatweareexcitedtoshare.SimilartoourotherSocialMediaBenchmarkReports,thisyearendreport

includes data from 1,842 shopping centers in the midst of the social media revolution that is

acceleratinghowwethink,communicate,reactandsharewithpeopleacrosstheworld.

Among all centers studied in Q4,just less than half (47.07%) are on Facebook, while 38.2% have a

Twitter account, a growth rate of 3.8% and 3.1% respectively from Q3 to Q4 2010. Although still

positive,the

lower

growth

in

the

number

of

centers

using

Facebook

and

Twitter

compared

to

previous

quartersshowsthatthefocustowardtheendof2010seemedtobeongrowingexistingFacebookand

Twitter pages rather than on new centersjoining the social media movement. In Q4 we witnessed a

spikeinthenumberofFacebooklikes,indicatingthatcentersarebecomingmoreinvolvedinengaging

customers through social media and using the platform in new ways to increase their shopper base.

Valuecentersexperienced152.9%growth intheaveragenumberofFacebooklikespercenterandthe

industryasawholesawa48.0%increaseinthenumberoflikesfromQ3toQ42010.

1http://www.facebook.com/press/info.php?statistics

2http://twitter.com/about

CenterType

(300,000square

feet

or

larger)

Numberof

CentersStudied

SuperRegionalCenters 432

RegionalCenters 777

LifestyleCenters 522

ValueCenters 94

EntertainmentCenters 17

TotalIndustry 1,842


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YearEnd2010

2011AlexanderBabbage,Inc. AllRightsReserved 3www.alexanderbabbage.com

PercentageofCentersthatuseFacebookbyCenterType*

CenterTypeQ1'10Percent

withFacebook

Q2'10Percent

withFacebook

Q3'10Percent

withFacebook

Q410Percent

withFacebook

2010

Growth

Q1to

Q4

SuperRegional(432) 35.6% 44.9% 68.5% 70.4% 97.7%

Regional(777)

22.9%

31.1%

45.2%

46.7%

104.0%

Lifestyle(522) 21.5% 26.2% 31.0% 33.3% 55.0%

Value(94) 25.5% 28.7% 30.9% 30.9% 21.0%

Entertainment(17) 41.2% 47.1% 52.9% 52.9% 28.5%

TotalIndustry(1,842) 25.8% 33.0% 46.0% 47.7% 85.0%

*Thedefinitionsofeachcentertypecanbefoundintheappendix.

InQ42010SuperRegionalcentershadthegreatestpresenceonFacebook(70.4%),withnearly20%

morethananyothercentertype,whileValuecentersfelljustbelowLifestylecentersinthelasttwo

quartersandended2010withthelowestpercentageofcentersusingFacebook(30.9%). Regional

centersstayedfairlyonparwiththetotalindustryaverageandexperiencedthegreatestgrowthduring

thecourse

of

2010

at

104.0%

from

Q1

to

Q4.

The

greatest

increase

from

one

quarter

to

another

was

the

jumpinSuperRegionalcentersonFacebookfrom194centersinQ2to296centersinQ3.Thetotal

industryuseofFacebookgrew85.0%in2010.

0.0%

20.0%

40.0%

60.0%

80.0%

100.0%

Q1 Q2 Q3 Q4

SuperRegional Regional

Lifestyle Value

Entertainment TotalIndustry


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YearEnd2010


PercentageofCentersthatuseTwitterbyCenterType*

CenterTypeQ1'10Percent

withTwitter

Q2'10Percent

withTwitter

Q3'10Percent

withTwitter

Q410Percent

withTwitter

2010

Growth

Q1to

Q4

SuperRegional(432) 35.0% 42.6% 57.4% 60.6% 73.3%

Regional(777)

19.8%

25.9%

32.0%

33.8%

71.0%

Lifestyle(522) 15.5% 20.9% 23.8% 24.7% 59.4%

Value(94) 53.2% 56.4% 58.5% 70.2% 32.0%

Entertainment(17) 35.3% 41.2% 41.2% 41.2% 16.6%

TotalIndustry(1,842) 24.0% 30.2% 37.1% 38.2% 59.2%

*Thedefinitionsofeachcentertypecanbefoundintheappendix.

AlthoughValuecentersended2010withthelowestpercentageofcentersonFacebook(30.9%),they

continuedtohavethehighestpercentageofcentersusingTwitter(70.2%).Withonly17U.S.centers

300,000squarefeetorlargertotal,thenumberofEntertainmentcentersonTwitter(7)hadremained

thesameforthelastthreequarterscontributingtoitslowgrowthrateofonly16.6%duringtheyear.

Thelargest

growth

was

seen

in

Super

Regional

centers

(73.3%)

which

increased

from

35.0%

of

centers

onTwitteratthebeginningof2010,to60.6%usingTwitterbytheyearsend.LikeFacebook,thehighest

increaseinthepercentageofcentersusingTwittercanbeseenagaininSuperRegionalcentersbetween

Q2(184centers)andQ3(248centers).Theindustryasawholewitnesseda59.2%growthrateduring

2010inthepercentageofcentersusingTwitter.

0.0%

20.0%

40.0%

60.0%

80.0%

100.0%

Q1 Q2 Q3 Q4

SuperRegional Regional

Lifestyle Value

Entertainment TotalIndustry


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YearEnd2010



Findings

TheShopping

Center

Industry

as

awhole

has

seen

asteady

increasing

trend

in

2010

for

the

use

of

TwitterandFacebook. AttheendofQ42010,aboutoneineverytwocentersusedFacebook(47.7%),

while38.2%ofcenters300,000squarefeetorlargerhadapresenceonTwitter.InQ1,amongthe1,842

centersstudied,only474centerswereutilizingFacebook.Bytheendoftheyear,thisnumberclimbed

85.0%to879centers.ShoppingcentersuseofTwittersawremarkablechangeaswellin2010.InQ1,

only442ofthestudiedcenterswereonTwitterandbytheendoftheyearthenumberrose59.2%to

704centers.

IndustrywideUseofFacebook

IndustrywideUseofTwitter

25.8 33.0%46.0% 47.7%

UseFacebook DontuseFacebook

UseTwitter DontuseTwitter


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YearEnd2010


AverageNumberofFacebookLikesbyCenterType

TheaveragenumberofFacebooklikesinQ4was2,407percenter,agrowthof48.0%from1,626likesin

Q32010. Valuecenterssawtremendousgrowthfromanaverageof2,182likespercenterinQ3to

5,519likesinQ4.Entertainmentcenterscontinuetohavethelargestfanbase(8,852),whileregional

centerscontinuetofallbehindforthefourthquarterinarowwithanaverageof1,041likespercenter.

ThehighestnumberofFacebooklikesforanyonecenterwas185,309forthesuperregionalcenterMall

ofAmericainBloomington,MN.During2010,theMallofAmericahascontinuedtohavethehighest

numberoflikesamongallU.S.shoppingcenters300,000squarefeetorlarger.TheFacebookpagegrew

61.1%duringthelastquarterof2010.

1,244

5,655

1,027

1,859

479

1,516

1,563

6,221

1,341

2,064

594

2,167

1,626

7,202

2,182

2,289

684

2,162

2,407

8,852

5,519

2,790

1,041

3,321

2,000 4,000 6,000 8,000 10,000

TotalIndustry(1842)

EntertainmentCenters(17)

ValueCenters(94)

LifestyleCenters(522)

RegionalCenters(777)

SuperRegionalCenters(432)Q4

Q3

Q2

Q1


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YearEnd2010


AverageNumberofTwitterFollowersbyCenterType

TheaveragenumberofTwitter followerspercenter inQ42010was376,a21.3% increase from the

previousquartersaverageof310followers.LifestylecenterssawthelargestgrowthinTwitterfollowers

forthesecondquarterinarowfromanaverageof572inQ3to703inQ4(22.9%growth).Comparable

toFacebook,entertainmentcenterscontinuedtohavethegreatestfollowingonTwitterforthefourth

quarter inarow(1,645),whileregionalcentershavethe lowestaverage(174).Thehighestnumberof

Twitter followers foranyonecenterwas9,086 for theLifestylecenterTheGrove inLosAngeles,CA.

During 2010 The Grove continued to have the highest number of Twitter followers among all U.S.

shoppingcenters300,000squarefeetorlarger.TheTwitterpagegrew30.5%duringthelastquarterof

2010.

252

1,117

408

479

109

190

281

1,161

431

467

125

248

310

1,407

516

572

145

268

376

1,645

501

703

174

314

2,000 4,000 6,000 8,000 10,000

TotalIndustry(1842)

EntertainmentCenters(17)

ValueCenters

(94)

LifestyleCenters(522)

RegionalCenters(777)

SuperRegionalCenters(432)Q4

Q3

Q2

Q1


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YearEnd2010



Developers

Among

developers

with

20

or

more

centers,

Simon

Property

Group

and

Pennsylvania

Real

Estate

InvestmentTrustgrewtremendouslyin2010.SimonPropertyGroupstartedtheyearwithonly0.9%of

centersonFacebookandendedtheyearwith74.9%ofcentersonFacebook.PennsylvaniaRealEstate

InvestmentTrustbegan2010with3.2%ofcentersonTwitterandgrew1,598.8%to54.8%ofcenterson

TwitterbytheendofQ42010.Sixofthe11developerswith20ormorecentersexperiencedgrowthof

morethan100%duringthecourseof2010,whilefiveofthe11experiencedgrowth inthenumberof

centers on Twitter. Glimcher continues to be the only developer among those with 20 or more U.S.

centers300,000squarefeetorlargerthathas100%ofitscentersonFacebookandTwitter.

SocialMediaUseAmongDeveloperswith20+Centers

Developer Base

Q110

Percent

with

Facebook

Q410

Percent

with

Facebook

2010

Growth

Facebook

Q1toQ4

Q110

Percent

with

Twitter

Q410

Percent

with

Twitter

2010

Growth

Twitter

Q1toQ4

SimonPropertyGroup 227** 0.9% 74.9% 8222.2% 12.8% 65.3% 410.2%

GeneralGrowthProperties 190 87.9% 88.4% 0.6% 86.3% 86.8% 0.6%

CBL&AssociatesProperties 83 3.6% 24.1% 569.4% 6.0% 15.7% 161.7%

WestfieldCorporation 54 25.9% 66.7% 157.5% 24.1% 44.4% 84.2%

Macerich

5131.4%

98.0%

212.2%

98.0%

98.0%

0.0%

DevelopersDiversifiedRealty 46 8.7% 32.6% 274.7% 4.3% 32.6% 658.1%

JonesLangLaSalle 46 39.1% 73.9% 89.0% 32.6% 56.5% 73.3%

PennsylvaniaR/EInvestmentTrust 31 45.2% 61.3% 35.6% 3.2% 54.8% 1598.8%

ForestCity 24 66.7% 75.0% 12.4% 66.7% 75.0% 12.4%

TheTaubmanCompany 22 0.0% 4.5% 0.0% 4.5%

Glimcher 21 38.1% 100.0% 162.5% 38.1% 100.0% 162.5%

*Acompletelistofthetop25developersbasedonthenumberofcenterscanbefoundintheappendix.

**Inthefourthquarterof2010,12PrimeOutletsbecamePremiumOutletsownedbySimonPropertyGroup(Chelsea)givinga

newbaseof239forQ42010.

NotethedataforSimonPropertyGroupwasaggregatedbySimonPropertyGroup(Chelsea),KravcoSimonandSimonPropertyGroup,Inc.CBL

&AssociatesPropertieswasaggregatedbyCBLRM WacoLLCandCBL&AssociatesProperties,Inc.andForestCitywasaggregatedbyForest

CityCommercialManagement,ForestCityEnterprises,ForestCityManagement,andForestCityRatnerCompanies.


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YearEnd2010



FacebookTop20

Rank

Q3

Rank

Q4 CenterName Location SquareFeet ManagedBy

Q4#of

Facebook

Likes

1 1 MallofAmerica Bloomington,MN 2,768,399 TripleFiveCorp. 185,309

3 2 KingofPrussiaMall KingofPrussia,PA 2,698,477 KravcoSimonCompany 52,281

2 3 WestfieldGardenStatePlaza Paramus,NJ 2,132,112 WestfieldCorporation 45,072

4 4 TheGalleria Houston,TX 2,350,308 SimonPropertyGroup,Inc. 30,218

5

5

WestfieldValley

Fair

Santa

Clara,

CA

1,478,023

Westfield

Corporation

26,036

8 6 ZonaRosa KansasCity,MO 925,000 Steiner&Associates 22,901

6 7 AsburyPark AsburyPark,NJ 400,000 MadisonMarquette 22,181

7 8 TheWharf OrangeBeach,AL 376,116 AIGBakerS/CPropertiesLLC 20,569

12 9 OpryMills Nashville,TN 1,166,379 SimonPropertyGroup,Inc. 19,182

13 10 AventuraMall Aventura,FL 2,099,164 TurnberryAssociates 18,513

9 11 SantanaRow SanJose,CA 565,000 FederalRealtyInvest.Trust 17,892

12

Palisades

Center

West

Nyack,

NY

2,217,322

Palisades

Center

17,078

11 13 SeminoleParadise Hollywood,FL 350,000 TheCordishCompany 16,400

14 14 TownSquareLasVegas LasVegas,NV 1,000,000 TurnberryAssociates 16,271

10 15 BroadwayattheBeach MyrtleBeach,SC 700,000 Burroughs&ChapinCoInc 16,257

15 16 BelAirMall Mobile,AL 1,334,000 JonesLangLaSalle 15,302

16 17 PierPark PCBeach,FL 504,663 SimonPropertyGroup,Inc. 14,650

17 18 TheGreene Beavercreek,OH 790,000 Steiner&Associates 14,247

20 18 TheGrove LosAngeles,CA 575,000 CarusoAffiliated 14,247

20 TheCosmopolitan LasVegas,NV 300,000 3700Associates,LLC 13,886

Attheendof2010,theMallofAmericaoutrankedtheKingofPrussiaMallby133,028likes.Westfield

GardenStatePlazahadthesecondhighestnumberof likes inQ3,yetbytheendofQ4, it fellbehind

KingofPrussiaMalltorankthird inthe listofTop20centersbasedonthenumberofFacebook likes.


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YearEnd2010


PalisadesCenter inWestNyack,NYmade theTop20 list forthe firsttimegrowing86.4% from9,162

likes

in

Q3

all

the

way

up

to

the

12

th

spot

with

17,078

likes

at

the

end

of

Q4.

The

Cosmopolitan

in

Las

Vegas,NValsomadetheTop20 listforthefirsttimeandhadthehighestgrowth(370.2%)from2,953

likesinQ3tothe20thspotonthelistwith13,886likesinQ4.TheGroveandTheGreenearetiedatthe

18thspotwith14,247likesattheendof2010.

Top5ShoppingCentersBasedonFacebookLikesGrowthRate

CenterName

Location

Center

Type

Square

Feet

ManagedBy

Q3#of

Facebook

Likes

Q4#of

Facebook

Likes

Percent

Growth

Q3to

Q4

TheCosmopolitan LasVegas,NV LC 300,000 3700Associates,LLC 2,953 13,886 370.2%

PalisadesCenter WestNyack,NY SR 2,217,322 PalisadesCenter 9,162 17,078 86.4%

MallofAmerica Bloomington,MN SR 2,768,399 TripleFiveCorp. 115,060 185,309 61.1%

KingofPrussiaMall KingofPrussia,PA SR 2,698,477 KravcoSimonCompany 36,279 52,281 44.1%

OpryMills Nashville,TN SR 1,166,379 SimonPropertyGroup 13,599 19,182 41.1%

FacebookSpotlight:

Toward the end of the year, more centers

developed creativeways to attract customers to

their Facebook page. Miami International Mall,

owned by Simon Property Group Inc. started a

contestattheendofSeptemberthatranthrough

the end of October with a goal of growing

exposuretotheirFacebookpage.Consumershad

tolike

the

Miami

International

Mall

Facebook

pageinordertoqualifytowina$250giftcardto

themall.At theendofSeptember, themallhad

245likes.Afterthecontestranthemallhad1,286

likes,agrowthrateof424.9%.


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YearEnd2010



SimonMallscreatedaDealstabonalloftheirFacebookpagesstatingthatusersmustlikethemalls

page

in

order

to

unlock

special

deals,

which

may

have

contributed

to

their

72.3%

growth

rate

in

the

numberofFacebooklikesfromQ3toQ42010.Theyalsousethistabinthebottomrighthandcornerto

showcaseothersocialmediaoutletstheyusesuchasTwitter,YouTube,foursquare,mobileapps,etc.,to

keepcustomersinformedinahightrafficarea.


12/22


YearEnd2010


IntheNotessectionofthePalisadesCenterFacebook,usershadtheopportunitytolikethecenterand

print

a

coupon

for

a

free

green

shopping

bag

from

11/29

12/29/2010.

Users

had

to

like

the

centers

pagebeforebeing able to redeem the coupon at themalls customer servicedesk. The center even

posted reminderson theirFacebookwall regarding thespecialdeal.When thepromotionended, the

PalisadesCenterlandeditselfonourTop20listbasedonthenumberofFacebooklikesforthefirsttime

andgrew86.4%fromQ3toQ4.


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YearEnd2010



TwitterTop20

Q3

Rank

Q4

Rank CenterName Location

Square

Feet ManagedBy

Q4#of

Twitter

Followers

1 1 TheGrove LosAngeles,CA 575,000 CarusoAffiliated 9,086

14 2 TheCosmopolitan LasVegas,NV 300,000 3700Associates,LLC 6,353

3 3 MallofAmerica Bloomington,MN 2,768,399 TripleFiveCorp. 5,628

2 4 DanaParkVillageSquare Mesa,AZ 400,000 TripleFiveAZDevelopmentCorp. 5,233

4

5

UniversalCityWalk

Universal

City,

CA

400,000

Universal

CityWalk

3,723

6 6 AtlanticStation Atlanta,GA 1,500,000 JonesLangLaSalle 2,774

13 7 FriscoSquare Frisco,TX 500,000 FriscoSquareDevelopment 2,632

5 8 WinterParkVillage WinterPark,FL 522,000 Casto 2,597

7 9 TheGalleria Houston,TX 2,350,308 SimonPropertyGroup,Inc. 2,580

11 10 PatriotPlace Foxborough,MA 1,300,000 StrategicRetailAdvisors 2,555

12 11 TheAmericanaatBrand Glendale,CA 475,000 CarusoAffiliated 2,369

8 12 ScottsdaleFashionSquare Scottsdale,AZ 2,030,000 ScottsdaleFashionSquare 2,304

9 13 KierlandCommons Scottsdale,AZ 320,000 Westcor 2,219

15 14 EastonTownCenter Columbus,OH 1,500,000 Steiner&Associates 2,125

10 15 Belmar Lakewood,CO 1,200,000 ContinuumPropertyMgmt 2,119

16 16 The900Shops Chicago,IL 450,000 UrbanRetailProperties,LLC 1,922

17 17 AsburyPark AsburyPark,NJ 400,000 MadisonMarquette 1,849

18 18 WashingtonSquare Tigard,OR 1,458,840 Macerich 1,809

19 TheShopsatTheBravern Bellevue,WA 305,000 SchnitzerWest,LLC 1,802

20 PacificPlace Seattle,WA 335,000 PineStreetGroupLLC 1,778

TheTop20listsawsignificantshiftsduringthefourthquarterbasedonthenumberofTwitterfollowers.

TheGrove finished theyearkeeping its topspotwith9,086 followers.The Cosmopolitanexperienced

themostgrowth(230.9%)jumpingfrom14thinQ3to2ndplaceinQ4with6,353followers.PacificPlace


14/22


YearEnd2010


in Seattle,WAmade the list for the first time going from 1,236 followers to 1,778 followers inone

quarter.

Top5ShoppingCentersBasedonTwitterFollowersGrowthRate

CenterName Location SquareFeet ManagedBy

Q3#of

Twitter

Followers

Q4#of

Twitter

Followers

2010

Percent

Growth

Q3to

Q4

TheCosmopolitan LasVegas,NV 300,000 3700Associates,LLC 1,920 6,353 230.9%

PacificPlace Seattle,WA 335,000 PineStreetGroupLLC 1,236 1,778 43.9%

FriscoSquare Frisco,TX 500,000 FriscoSquareDevelopment 2,009 2,632 31.0%

TheGrove LosAngeles,CA 575,000 CarusoAffiliated 6,960 9,086 30.5%

MallofAmerica Bloomington,MN 2,768,399 TripleFiveCorp. 4,335 5,628 29.8%

NumberofFollowersComparedtoAverageTweetsPerDay Top10Centers

Thechartaboveindicatesageneralcorrelationbetweentheaveragenumberoftweetsperdayandthe

numberoffollowers.TheCosmopolitanhadthehighestgrowthrateinQ4(230.9%)movingitfrom14th

onourlistofTop20centers,to2ndinonequarter.Becauseofthis,itisnotsurprisingthatalongwiththe

5.4

13.6

7.0

3.4

5.4

1.82.8

1.8

3.4

1.5

0

2

4

6

8

10

12

14

16

1,000

2,000

3,000

4,000

5,000

6,000

7,0008,000

9,000

10,000

Q4Followers

Avgtweetsperday


15/22


YearEnd2010



highestTwitterfollowergrowthrate,TheCosmopolitanalsohadthehighestaveragenumberoftweets

among

the

top

10

centers

(13.6

per

day).

TwitterSpotlight:

OnDecember18th,oneweekbeforeChristmasand inthemidstofbusyholidayshopping,theMallof

America ran a Twitter promotion to reward their loyalTwitter followers,aswellasattract new ones,

withthelureoffreeVIPparkinginwhatthemallcalledtheirBigSecretParkingParty(#bspp).Themall

closedoff96parkingspotsnearoneofcentersentrances,ahotcommodityduringoneofthebusiest

timesoftheyear.TwitterusershadtofollowthemallandprovidetheirTwitterusername inorderto

redeem a ticket through an online reservation system. After the promotion, the Mall of America

increasedtheirfollowersby808peopleinonemonthfrom4,820attheendNovemberto5,628atthe

endof

the

year.

This

is

much

higher

than

their

usual

monthly

increase

of

200

300

followers

per

month,

proving that the Big Secret Parking Party gained a lot of attention for the Mall of America and their

Twitterpage.


16/22


YearEnd2010



Conclusion

The

use

of

Facebook

and

Twitter

by

U.S.

shopping

centers

is

continuing

to

increase

and

centers

are

beginning to really think outsidethebox when it comes to attracting customers to these virtual

networks.Although inthe lastquarterof2010wesawasmallergrowthrateinthenumberofcenters

joiningFacebookandTwitter,wedidseeamuchhigher increase inthenumberofFacebook likesand

Twitterfollowers.Centershavebeguntostepituptoinvolveandattractcustomerstotheirpageswith

contests,giveaways,andspecialdealstobuildtheirnetworkandgetcustomersinthedoor.

AlexanderBabbage will continuallymonitorsocial media activity in theshoppingcenter industry with

benchmarks published at the beginning of each quarter.For more information about comparing your

centerorportfoliotobenchmarks,contact:

[email protected]

[email protected]

A

AlexanderBabbage,Inc.,isanAtlantabasedfullserviceresearchfirmspecializinginexperientialresearchfordestinations

includingshoppingcenters,professionalsportsteams,retailers,restaurants,theartsandfinancialinstitutions.Ithasthe

deepestexperienceandmostextensivebenchmarksetamongprivateresearchproviders. AlexanderBabbageacquired

StillermanJones&Companyin2007andMAXtrakin2004,makingittheshoppingcenterindustrysleadingproviderof

marketand

shopper

research.


17/22


YearEnd2010



Definitions

CenterTypeOnlycenters300,000squarefeetorlargerinthecontinentalUnitedStateswereconsidered.

Super Regional Center Similar to a regional center, but because of its larger size, a super regional

centerhasmoreanchors,adeeperselectionofmerchandise,anddrawsfromalargerpopulationbase.

Aswithregionalcenters,thetypicalconfigurationisanenclosedmall,frequentlywithmultilevels.

Regional Center This center type provides general merchandise (a large percentage of which is

apparel) and services in full depth and variety. Its main attractions are its anchors: traditional, mass

merchant,ordiscountdepartmentstoresorfashionspecialtystores.Atypicalregionalcenterisusually

enclosed with an inward orientation of the stores connected by a common walkway and parking

surroundstheoutsideperimeter.

LifestyleCenter Mostoftenlocatednearaffluentresidentialneighborhoods,thiscentertypecatersto

theretailneedsandlifestylepursuitsofconsumerinitstradingarea. Ithasanopenairconfiguration

andtypicallyincludesretailspaceoccupiedbyupscalenationalchainspecialtystores. Thesecentermay

ormaynotbeanchoredbyoneormoreconventionalorfashionspecialtydepartmentstores.

Value Center A center that includes outlet tenants as well as superstores, catalog, retail clearing

houses,offpriceordiscounters,andfoodvendors.

EntertainmentCenter Ashoppingcenterthatencompassestheaters,restaurantsandrelatedretail.

SocialMediaTermsFacebook Apublicationforanorganization,suchasaschoolorbusiness,whichhelpsmembersidentify

eachother;also,anonlineversionofthis,withprofilesincludingapicture,name,birthdate,interests,

etc.

Twitter Aninformationnetworkmadeupof140charactermessages,typicallysentastextmessages.

Tweet AmessagepostedviaTwittercontaining140charactersorfewer.

Follow TofollowsomeoneonTwittermeanstosubscribetotheirTweetsorupdatesonthesite.

Follower AfollowerisanotherTwitteruserwhohasfollowedyou.

Dataandcountsareeffectiveasofthemeasurementdate12/31/2010.

DictionaryofShoppingCenterTerms,ThirdEdition

TwitterGlossary


18/22


YearEnd2010



Appendix

Top25

Developers

Based

on

Number

of

Centers.

FacebookandTwitterusageamongeachdeveloperscentersof300,000squarefeetorlarger

Developer Base

Q3%with

Facebook

Q4%with

Facebook

%Growth

fromQ3to

Q4

Q3%with

Twitter

Q4%with

Twitter

%Growth

fromQ3to

Q42

SimonPropertyGroup* 227 81.7% 74.9% 8.3% 74.8% 65.3% 12.7%

GeneralGrowthProperties 190 88.4% 88.4% 0.0% 86.8% 86.8% 0.0%

CBL&AssociatesProperties 83 19.3% 24.1% 24.9% 12.0% 15.7% 30.5%

WestfieldCorporation 54 55.6% 66.7% 19.9% 40.7% 44.4% 9.2%

Macerich

51

98.0%

98.0%

0.0%

98.0%

98.0%

0.0%

DDR 46 32.6% 32.6% 0.0% 32.6% 32.6% 0.0%

JonesLangLaSalle 46 65.2% 73.9% 13.4% 52.2% 56.5% 8.3%

PennsylvaniaR/EInvestmentTrust 31 58.1% 61.3% 5.5% 3.2% 54.8% 1,613.7%

ForestCity 24 75.0% 75.0% 0.0% 75.0% 75.0% 0.0%

TheTaubmanCompany 22 0.0% 4.5% 0.0% 0.0% 0.0%

Glimcher 21 100.0% 100.0% 0.0% 100.0% 100.0% 0.0%

PrimeRetailManagement 19 10.5% 10.5% 0.0% 0.0% 0.0% 0.0%

KimcoRealtyCorporation 18 5.6% 5.6% 0.0% 0.0% 0.0% 0.0%

InlandUSManagementLLC 17 52.9% 52.9% 0.0% 17.6% 17.6% 0.0%

TheCafaroCompany 17 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

TangerFactoryOutletCenters,Inc 16 93.8% 93.8% 0.0% 93.8% 93.8% 0.0%

REDDevelopment 16 43.8% 50.0% 14.3% 31.3% 31.3% 0.0%

CBRichardEllis 16 18.8% 18.8% 0.0% 18.8% 18.8% 0.0%

VornadoRealtyTrust 15 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

Casto 14 21.4% 21.4% 0.0% 21.4% 21.4% 0.0%

Westcor 13 76.9% 76.9% 0.0% 84.6% 84.6% 0.0%

Centro 11 27.3% 27.3% 0.0% 9.1% 9.1% 0.0%

MadisonMarquette 9 77.8% 77.8% 0.0% 66.7% 66.7% 0.0%

MidAmericaRealEstateGroup 9 11.1% 11.1% 0.0% 11.1% 11.1% 0.0%

Poag&

McEwen

Lifestyle

Ctrs,

LLC

9

44.4%

44.4%

0.0%

44.4%

44.4%

0.0%

TheSemblerCompany 9 11.1% 11.1% 0.0% 0.0% 0.0% 0.0%

ThePyramidCompanies 9 100.0% 100.0% 0.0% 22.2% 22.2% 0.0%

VestarDevelopment 9 77.8% 77.8% 0.0% 55.6% 55.6% 0.0%

**Inthefourthquarterof2010,12PrimeOutletsbecamePremiumOutletsownedbySimonPropertyGroup(Chelsea)givinga

newbaseof239forQ42010.


19/22


YearEnd2010



Developer Aggregatedby

SimonPropertyGroup SimonPropertyGroup,Inc.,SimonPropertyGroup(Chelsea),KravcoSimonCompany

GeneralGrowthProperties GeneralGrowthProperties,Inc.,c/oCityofTrotwood,c/oGrandTetonMall

CBL&AssociatesProperties CBL&AssociatesProperties,CBL&AssociatesProperties,Inc.,CBMRMWacoLLC

JonesLangLaSalle JonesLangLaSalle,c/oAshtabulaTowneSquare

ForestCity

ForestCityEnterprises,ForestCityCommercialManagement,ForestCityManagement,

ForestCityRatnerCompanies

Inland

InlandSouthwestManagement,InlandAmericanRetailMgmt LLC,InlandCommercial

PropertyMgmt,InlandPacificPropertySvcsLLC,InlandUSManagementLLC,Inland

ContinentalPropertyMgmt.

Red

Development

RED

Development

,

RED

Asset

Management,

Inc.

CBRichardEllis CBRichardEllis,CBRELouisville,CBRE/MEGA

VornadoRealtyTrust VornadoRealtyTrust,Vornado/CharlesE.Smith

ThePyramidCompanies ThePyramidCompanies,c/oAvitationMall

VestarDevelopment VestarDevelopment,VestarPropertyMgmt,c/oVestarDevelopmentCo.


20/22


YearEnd2010


FacebookUsebyCenterType

TwitterUsebyCenterType

35.6%

22.9% 21.5%25.5%

41.2%44.9%

31.1%26.2%

28.7%

47.1%

68.5%

45.2%

31.0%30.9%

52.9%

70.4%

46.7%

33.3%

30.9%

52.9%

0.0%

20.0%

40.0%

60.0%

80.0%

100.0%

SuperRegional

Centers

RegionalCenters LifestyleCenters ValueCenters Entertainment

Centers

Q1 Q2 Q3 Q4

35.0%

19.8%15.5%

53.2%

35.3%

42.6%

25.9%20.9%

56.4%

41.2%

57.4%

32.0%

23.8%

58.5%

41.2%

60.6%

33.8%

24.7%

70.2%

41.2%

0.0%

20.0%

40.0%

60.0%

80.0%

100.0%

SuperRegional

Centers

RegionalCenters LifestyleCenters ValueCenters Entertainment

Centers

Q1 Q2 Q3 Q4


21/22


YearEnd2010


FacebookUsebyRegion

TwitterUsebyRegion

26.2% 23.7% 23.7%

31.0%33.1% 30.3% 31.6%

39.8%45.1% 43.7% 43.4%

53.2%46.7% 45.0% 44.7%

56.1%

0.0%

20.0%

40.0%

60.0%

80.0%

100.0%

ICSCNortheast

Regions1and2

ICSCSouthRegions

3,4,and5

ICSCMidwest

Regions6and7

ICSCWestRegions

8and9

Q1

Q2

Q3

Q4

17.0%20.0%

22.6%

37.8%

21.5%25.6%

30.1%

44.6%

30.3%36.5% 33.9%

50.7%

36.3%36.5% 35.5%

51.5%

0.0%

20.0%

40.0%

60.0%

80.0%

100.0%

ICSCNortheast

Regions1and2

ICSCSouthRegions

3,4,and5

ICSCMidwest

Regions6and7

ICSCWestRegions

8and9

Q1

Q2

Q3

Q4

3.5% 3.2%

4.5%

5.5%3.0%

1.4%0.0%19.8%

%Change

Q3toQ4

%Change

Q3toQ4


22/22


YearEnd2010

2011 Alexander Babbage, Inc. All Rights Reserved 22

Number Region Division States

1 Northeast NewEngland Connecticut,Maine,Massachusetts,NewHampshire,RhodeIsland,Vermont

2 Northeast MidAtlantic NewJersey,NewYork,Pennsylvania

3 South SouthAtlantic

Delaware,DistrictofColumbia,Florida,Georgia,Maryland,NorthCarolina,South

Carolina,Virginia,WestVirginia

4 South EastSouthCentral Alabama,Kentucky,Mississippi,Tennessee

5 South WestSouthCentral Arkansas,Louisiana,Oklahoma,Texas

6 Midwest EastNorthCentral Illinois,Indiana,Michigan,Ohio,Wisconsin

7 Midwest WestNorthCentral Iowa,Kansas,Minnesota,Missouri,Nebraska,NorthDakota,SouthDakota

8 West Mountain Arizona,Colorado,Idaho,Montana,Nevada,NewMexico,Utah,Wyoming

9 West PacificDivision California,Oregon,Washington

Documents

Alexander Babbage - Shopping Center Industry Social Media Benchmark Report Year End 2010