Property Revenue and Operating Growth
Total property revenue reached $335.7 million in 2026-Q2, up 7.8% YoY from $311.5 million. Growth was driven by a $20.6 million contribution from property acquisitions and a $7.7 million increase from comparable properties.
Strong Leasing Activity and Cash Spreads
FRT signed 819,000 square feet of comparable space leases in 2026-Q2, generating an average cash rental rate increase of 15% (34% on new leases and 5% on renewals). Total portfolio leased occupancy stood at 96.1% with physical occupancy at 93.8%.
Strategic Acquisitions and Real Estate Dispositions
During the six months ended June 30, 2026, FRT acquired properties including Congressional North Shopping Center ($72.3 million) and a Kingstowne Towne Center asset ($19.7 million), while selling assets for $224.6 million, generating $112.8 million in net gain on sale.