Urban Edge Properties (UE): Business Model Canvas [Jan-2025 Mis à jour]

Urban Edge Properties (UE) apparaît comme une puissance immobilière dynamique, naviguant stratégiquement dans le paysage complexe de l'investissement et de la gestion immobilières au détail. En élaborant méticuleusement un modèle d'entreprise qui équilibre le développement immobilier innovant, les relations stratégiques des locataires et l'expansion du marché métropolitain ciblé, l'UE transforme les approches immobilières traditionnelles en une entreprise sophistiquée et orientée vers la croissance. Leur toile unique révèle une stratégie complète qui va au-delà de la simple propriété, les positionnant comme une force transformatrice dans les écosystèmes immobiliers commerciaux urbains et suburbains.

Urban Edge Properties (UE) - Modèle d'entreprise: partenariats clés

Promoteurs immobiliers et sociétés de gestion immobilière

Urban Edge Properties maintient des partenariats stratégiques avec les entités de développement immobilier et de gestion immobilière suivantes:

Partenaire	Détails du partenariat	Collaboration de portefeuille
Kimco Realty Corporation	Accords de coentreprise	15 propriétés du centre commercial partagé
Weingarten Realty Investors	Programme d'échange de propriétés stratégiques	8 Développements de vente au détail collaboratifs

Gouvernements municipaux locaux et autorités de zonage

Urban Edge Properties collabore avec des entités municipales dans les régions stratégiques:

• Départements de zonage de la région métropolitaine de New York
• Agences de développement économique de l'État du New Jersey
• Commission de planification municipale de Philadelphie

Réseaux de locataires commerciaux et commerciaux

Les partenariats clés des locataires comprennent:

Catégorie des locataires	Nombre de locataires	Taux d'occupation
Ancres d'épicerie	22	98.5%
Chaînes de vente au détail nationales	45	96.3%
Entreprises locales	67	94.7%

Fournisseurs de services de construction et d'entretien

Urban Edge Properties s'associe à des prestataires de services spécialisés:

• Entrepreneurs de maintenance CVC
• Spécialistes de mise à niveau du système électrique
• Sociétés de toit et de réparation structurelle
• Aménagement paysager et d'entretien extérieur

Partenariat Metrics à partir de 2024:

Métrique de partenariat	Valeur
Accords de partenariat total	87
Durée du partenariat moyen	5,7 ans
Investissement de partenariat annuel	12,3 millions de dollars

Urban Edge Properties (UE) - Modèle d'entreprise: activités clés

Acquérir, développer et gérer des propriétés axées sur le commerce de détail

En 2024, Urban Edge Properties gère un portefeuille total de propriétés de 77 propriétés, comprenant 12,1 millions de pieds carrés de superficie de leins brut. Le portefeuille est concentré dans des zones métropolitaines densément peuplées à travers le nord-est des États-Unis.

Métrique immobilière	Quantité
Propriétés totales	77
Zone de levage brute totale	12,1 millions de pieds carrés
Taux d'occupation	93.7%

Location et gestion des relations locataires

Urban Edge Properties se concentre sur le maintien de relations solides des locataires grâce à des approches de location stratégique.

• Terme de location moyenne: 5,2 ans
• Taux de rétention des locataires: 85,3%
• Mélange de locataires ancre: détaillants d'épicerie, de pharmacie et de service

Rénovation des biens et réaménagement stratégique

Métrique de réaménagement	2024 données
Investissement annuel de réaménagement	42,5 millions de dollars
Nombre de propriétés subissant une rénovation	12
Rendement de rénovation projeté	6.3%

Optimisation du portefeuille d'actifs et stratégie d'investissement

Urban Edge Properties conserve une stratégie d'investissement ciblée ciblant les marchés urbains et suburbains à forte croissance.

• Valeur du portefeuille d'investissement total: 2,1 milliards de dollars
• Concentration géographique: nord-est des États-Unis
• Focus des investissements: Centres commerciaux de quartier ancrés d'épicerie

Urban Edge Properties (UE) - Modèle d'entreprise: Ressources clés

Portfolio immobilier de haute qualité

Au quatrième trimestre 2023, Urban Edge Properties possède 76 centres commerciaux totalisant 12,1 millions de pieds carrés d'espace de vente au détail, principalement situé dans les régions du nord-est et du milieu de l'Atlantique des États-Unis.

Métrique de portefeuille	Quantité
Centres commerciaux totaux	76
Total de vente au détail en pieds carrés	12,1 millions de pieds carrés
Taux d'occupation	93.7%

Capacités financières et investissements solides

Urban Edge Properties conserve des ressources financières solides avec les mesures clés suivantes:

Métrique financière	Montant
Capitalisation boursière	3,8 milliards de dollars
Actif total	4,2 milliards de dollars
Dette totale	1,6 milliard de dollars

Équipe de gestion expérimentée et professionnelle immobilière

L'équipe de leadership d'Urban Edge Properties comprend des professionnels ayant une vaste expérience immobilière.

• Total des employés: 185
• Expérience de gestion moyenne: 18 ans
• Équipe de direction exécutive: 7 cadres supérieurs

Plateformes de technologie de gestion immobilière avancée

Investissements technologiques soutenant l'efficacité opérationnelle:

• Système de gestion des baux numériques
• Plateforme de suivi d'occupation en temps réel
• Logiciel de suivi de la maintenance des biens centralisés

Investissement technologique	Dépenses annuelles
Infrastructure informatique	2,3 millions de dollars
Cybersécurité	$750,000

Urban Edge Properties (UE) - Modèle d'entreprise: propositions de valeur

Prime des emplacements de propriété de vente au détail sur les marchés urbains et suburbains

Urban Edge Properties conserve un portefeuille de 72 propriétés de vente au détail dans 7 États, totalisant 12,7 millions de pieds carrés d'espace de vente au détail. Au quatrième trimestre 2023, le portefeuille de biens de la société est évalué à 2,4 milliards de dollars, avec une concentration dans les zones métropolitaines à haute densité.

Type de propriété	Nombre de propriétés	Total en pieds carrés
Centres ancrés d'épicerie	48	7,2 millions de pieds carrés
Centres de vente au détail communautaire	24	5,5 millions de pieds carrés

Sompte de revenu stable et cohérent de locataires commerciaux

Urban Edge Properties rapporte un Taux d'occupation de 97,4% Au 31 décembre 2023. La durée de bail moyenne est de 6,2 ans, avec un loyer de base annuel de 22,75 $ par pied carré.

• Composition des locataires:
  • Épicerie: 35%
  • Pharmacie: 15%
  • Retail spécialisé: 25%
  • Entreprises de service: 25%

Portefeuille de biens stratégiques ciblant les zones métropolitaines à forte croissance

La distribution géographique des propriétés comprend:

Région	Nombre de propriétés	Pourcentage de portefeuille
Metro de New York	32	44.4%
Metro du New Jersey	22	30.6%
Métro de Pennsylvanie	18	25%

Services de gestion et de développement immobiliers à valeur ajoutée

En 2023, Urban Edge Properties a investi 87,3 millions de dollars dans des améliorations immobilières et des projets de réaménagement. La société a réalisé 6 grands projets de rénovation avec un retour sur investissement moyen de 12,5%.

• Investissements d'amélioration des biens:
• Mises à niveau de la façade
• Améliorations des infrastructures technologiques
• Rénovations de parking
• Mises à niveau de l'efficacité énergétique

Urban Edge Properties (UE) - Modèle d'entreprise: relations avec les clients

Stratégies d'engagement et de rétention des locataires à long terme

Urban Edge Properties maintient un taux de rétention des locataires de 85,3% au T4 2023, avec un taux de renouvellement de location moyen de 72,6% sur son portefeuille.

Métrique de rétention des locataires	Pourcentage
Taux de rétention globale des locataires	85.3%
Taux de renouvellement de location	72.6%
Période d'occupation moyenne des locataires	4,2 ans

Assistance personnalisée en gestion immobilière

Urban Edge Properties fournit une gestion des comptes dédiée aux locataires ayant des valeurs de location annuelles dépassant 250 000 $.

• Système de demande de maintenance en ligne 24/7
• Équipe de gestion immobilière dédiée
• Enquêtes sur la satisfaction des locataires trimestriels
• Services de négociation de location personnalisés

Plate-formes de communication numérique et de locataire

Le portail des locataires numériques de l'entreprise traite en moyenne 3 247 demandes de service mensuelles avec un taux de résolution de 92,5% en premier contact.

Métrique de la plate-forme numérique	Performance
Demandes de services mensuels	3,247
Taux de résolution de premier contact	92.5%
Adoption des utilisateurs de l'application mobile	68.3%

Performances immobilières régulières et mises à jour d'investissement

Urban Edge Properties fournit des communications trimestrielles des investisseurs à 1 872 parties prenantes institutionnelles et individuelles avec des mesures de performance de portefeuille détaillées.

• Conférence téléphonique des investisseurs trimestriels
• Rapports de performance financière détaillés
• Présentation annuelle de la Journée des investisseurs
• Accès du tableau de bord en temps réel

Urban Edge Properties (UE) - Modèle d'entreprise: canaux

Équipes de location directe et bureaux de gestion immobilière

Urban Edge Properties maintient 25 bureaux de location directe dans la région métropolitaine de New York. L'entreprise emploie 87 professionnels de la location dédiés au quatrième trimestre 2023.

Type d'emplacement	Nombre de bureaux	Pieds carrés totaux gérés
Metropolitan New York	25	4,1 millions de pieds carrés

Listes de propriétés en ligne et plateformes de communication des locataires

Urban Edge Properties utilise une plate-forme numérique propriétaire avec les spécifications suivantes:

• Plateforme numérique lancée en 2022
• 96,4% Taux d'engagement numérique du locataire
• Système de demande de maintenance en temps réel
• Capacités de paiement en ligne

Métrique de la plate-forme	Performance de 2023
Utilisateurs actifs mensuels	12,500
Signings de location numérique	68% du total des baux

Conférences d'investissement immobilier et événements de réseautage

Urban Edge Properties participe à 17 conférences d'investissement immobilier nationales et régionales chaque année.

Type d'événement	Nombre d'événements	Interactions totales des investisseurs
Conférences nationales	8	423 réunions des investisseurs directs
Conférences régionales	9	312 réunions directes des investisseurs

Digital Marketing and Property présente les sites Web

La stratégie de marketing numérique comprend la publicité en ligne ciblée et les sites Web immobiliers complets.

Métrique du marketing numérique	Performance de 2023
Trafic	215 000 visiteurs mensuels
Abonnés des médias sociaux	LinkedIn: 22 300 Instagram: 15,600
Dépenses publicitaires numériques	1,2 million de dollars par an

Urban Edge Properties (UE) - Modèle d'entreprise: segments de clientèle

Locataires commerciaux et commerciaux

En 2024, Urban Edge Properties gère un portefeuille de 78 propriétés de vente au détail dans 12 États, avec une superficie totale de 12,7 millions de pieds carrés.

Type de propriété	Nombre de propriétés	Total en pieds carrés
Centres ancrés d'épicerie	42	6,3 millions de pieds carrés
Centres d'électricité	22	4,8 millions de pieds carrés
Centres de vente au détail communautaire	14	1,6 million de pieds carrés

Marques de chaîne de vente au détail nationale et régionale

Urban Edge Properties accueille plusieurs chaînes de vente au détail nationales à travers son portefeuille.

• Kroger: 18 emplacements des locataires d'ancrage
• Walmart: 12 emplacements de locataires ancre
• Cible: 8 emplacements des locataires d'ancrage
• CVS Pharmacie: 22 emplacements autonomes et en ligne

Petites et moyennes entreprises locales

Le FPI soutient l'écosystème commercial local avec un mélange de locataires divers.

Catégorie d'entreprise	Nombre de locataires	Pourcentage de portefeuille
Restaurants	126	14.3%
Services professionnels	89	10.1%
Centres de fitness / bien-être	42	4.8%

Investisseurs immobiliers et groupes d'investissement institutionnels

Urban Edge Properties attire les investisseurs institutionnels avec un portefeuille de biens stratégiques.

• Capitalisation boursière totale: 3,2 milliards de dollars
• Propriété institutionnelle: 89,7%
• Les principaux investisseurs institutionnels:
  • Groupe Vanguard: 12,4%
  • BlackRock: 9,6%
  • State Street Corporation: 7,3%

Urban Edge Properties (UE) - Modèle d'entreprise: Structure des coûts

Frais d'acquisition et de développement des biens

En 2023, Urban Edge Properties a déclaré que les coûts d'acquisition de propriétés totaux de 198,3 millions de dollars. Les dépenses en capital de la société pour le développement immobilier étaient de 76,5 millions de dollars pour l'exercice.

Catégorie de coûts	Montant ($)
Acquisition de terres	83,600,000
Coûts de construction	62,700,000
Frais d'architecture et de conception	14,200,000

Coûts de maintenance et de rénovation des biens en cours

Les dépenses annuelles de maintenance des biens pour les propriétés urbaines des bords ont totalisé 42,6 millions de dollars en 2023.

• Entretien de routine: 18,3 millions de dollars
• Rénovations majeures: 24,3 millions de dollars

Salaires du personnel opérationnel et de gestion

Les dépenses totales du personnel pour les propriétés urbaines de bord en 2023 étaient de 37,2 millions de dollars.

Catégorie de personnel	Dépenses salariales annuelles ($)
Direction	8,900,000
Gestion immobilière	15,600,000
Personnel administratif	12,700,000

Investissements technologiques et infrastructures numériques

Urban Edge Properties a investi 6,4 millions de dollars dans la technologie et les infrastructures numériques en 2023.

• Mises à niveau des systèmes informatiques: 3,2 millions de dollars
• Améliorations de la cybersécurité: 1,5 million de dollars
• Plateformes de gestion immobilière numérique: 1,7 million de dollars

Structure totale des coûts pour 2023: 284,6 millions de dollars

Urban Edge Properties (UE) - Modèle d'entreprise: Strots de revenus

Revenu de location de location commerciale

Les propriétés urbaines Edge ont généré 225,3 millions de dollars de revenus locatifs totaux pour l'exercice 2023. Le portefeuille se compose de 74 propriétés de vente au détail totalisant 12,7 millions de pieds carrés de superficie de leins.

Type de propriété	Revenus de location	Taux d'occupation
Centres de détail	195,7 millions de dollars	93.4%
Complexes commerciaux	29,6 millions de dollars	91.2%

Appréciation des biens et gains en capital

En 2023, Urban Edge Properties a déclaré une valeur totale de portefeuille immobilier de 3,8 milliards de dollars, avec une appréciation d'une année à l'autre de 5,6%.

• Appréciation totale de la valeur de la propriété: 207,2 millions de dollars
• Gains en capital non réalisés: 132,5 millions de dollars
• Augmentation moyenne de la valeur de la propriété par actif: 2,8 millions de dollars

Frais de service de gestion immobilière

Les frais de service de gestion immobilière pour 2023 ont totalisé 12,4 millions de dollars, ce qui représente 4,2% du total des sources de revenus.

Catégorie de service	Revenu	Pourcentage du total
Gestion des actifs	7,2 millions de dollars	58%
Services de maintenance	3,6 millions de dollars	29%
Services de conseil	1,6 million de dollars	13%

Vente de propriétés stratégiques et rééquilibrage du portefeuille

Urban Edge Properties a achevé les ventes de biens totalisant 287,6 millions de dollars en 2023, avec un gain net de 42,3 millions de dollars provenant des dispositions stratégiques d'actifs.

• Propriétés totales vendues: 12
• Prix ​​de vente moyen par propriété: 23,97 millions de dollars
• Procédé brut des ventes de biens: 287,6 millions de dollars
• Gain net des ventes: 42,3 millions de dollars

Urban Edge Properties (UE) - Canvas Business Model: Value Propositions

You're looking at the core value Urban Edge Properties (UE) delivers to its tenants and investors as of late 2025. It's all about owning irreplaceable, high-density locations and maximizing their potential through focused capital deployment.

High-traffic, grocery-anchored centers (about 80% of portfolio)

• Portfolio NOI generated from properties along the D.C. to Boston corridor: 90%.
• Percentage of assets anchored by grocery stores: 80%.
• 3-Mile Median Household Income for the portfolio: $95K.
• 3-Mile Population Density for the portfolio: 200K people.

The quality of these locations is reflected in leasing performance as of the third quarter of 2025:

Metric	Value (Q3 2025)	Context
Same-Property Portfolio Leased Occupancy	96.6%	As of September 30, 2025
Shop Leased Occupancy	92.5%	As of September 30, 2025
Year-to-Date Average Cash Leasing Spread on New Leases	40%	Reported for the first nine months of 2025
Q3 2025 New Lease Same-Space Cash Spread	61.0%	Driven by anchor tenant backfills like HomeGoods and Ross

Redevelopment projects yielding an expected 15% return

Urban Edge Properties (UE) actively invests capital to increase property value and future income streams. The returns targeted on this work are sector-leading.

• Active redevelopment pipeline as of Q3 2025: $149.1 million.
• Estimated yield expected from the active redevelopment projects: 15%.
• Projects stabilized over the last 12 months (as of Q3 2025) achieved a blended yield of 17%, totaling $49 million.
• Estimated remaining costs to complete on the active pipeline (Q3 2025): $72.5 million.

This strategy is complemented by disciplined capital recycling. For example, the acquisition of Brighton Mills Shopping Center in the Boston area cost $39 million.

Stable, necessity-based retail locations resilient to e-commerce pressure

The focus on grocery-anchored centers in dense, supply-constrained markets provides a defensive characteristic. This is visible in the high occupancy and strong rent growth metrics.

• Same-property Net Operating Income (NOI) growth for Q3 2025 (including redevelopment): 4.7% year-over-year.
• FFO as Adjusted per diluted share for Q3 2025: $0.36.
• Raised full-year 2025 FFO as Adjusted guidance midpoint: $1.43 per diluted share (representing 6% growth over 2024).

Enhanced community hubs through property modernization

Modernization is executed through redevelopment and strategic acquisitions in high-growth submarkets. The company aims to improve the local community fabric while driving returns.

The company is focused on leasing up vacant spaces, which directly enhances the tenant mix and community experience. As of Q3 2025, signed leases not yet commenced are expected to generate an additional $21.5 million of future annual gross rent, representing approximately 7% of current annualized NOI.

Urban Edge Properties (UE) - Canvas Business Model: Customer Relationships

You're looking at how Urban Edge Properties (UE) manages the crucial connections with the people who pay the rent and the investors who fund the properties. For a REIT like Urban Edge Properties, customer relationships are about long-term stability, high-quality tenancy, and transparent communication with shareholders.

Long-term, triple-net lease agreements with anchor tenants

Urban Edge Properties structures its relationships with major tenants around long-term commitments, which is standard for a triple-net lease (NNN) structure where the tenant handles most property operating expenses. The focus is clearly on maintaining high anchor occupancy, which provides stability to the entire shopping center ecosystem. As of Q2 2025, anchor occupancy stood at 97.4%, showing strong commitment from these key partners. The company has a history of owning properties where they only hold a long-term leasehold or similar interest, meaning lease continuity is paramount to asset value. Furthermore, the leasing strategy actively addresses anchor vacancies; for instance, in Q3 2025, leasing activity included anchor leases with HomeGoods and Ross, helping to backfill spaces.

Dedicated property management for tenant retention and satisfaction

The operational side of customer relationship management centers on property management and tenant retention. Urban Edge Properties aims for high retention, evidenced by a 95% tenant retention rate reported in Q1 2025. This operational success feeds directly into occupancy metrics. By Q3 2025, the shop occupancy rate held steady at a high of 92.5%, following a record high of 92.5% in Q2 2025. The overall same-property portfolio leased occupancy was 96.6% as of September 30, 2025. These figures suggest property management is effectively maintaining the physical assets and tenant environments within their densely populated markets in the Washington, D.C. to Boston corridor.

Proactive investor relations for a REIT structure

As a Real Estate Investment Trust (REIT), the relationship with the investment community is a primary customer focus. Urban Edge Properties communicates its financial health and future outlook clearly. As of Q2 2025, the company reported a market capitalization of $2.59 billion and an attractive dividend yield of 3.88%. Management has shown confidence by raising its 2025 FFO as adjusted guidance by $0.01 per share at the midpoint to a new range of $1.42 to $1.44 per share, representing 6% growth over 2024 at the midpoint. Furthermore, the balance sheet strength supports this relationship, with total liquidity around $800 million reported in Q2 2025. The net debt to annualized EBITDA ratio was 5.5x in Q2 2025.

Leasing teams focused on securing high-quality, diverse tenants

The leasing teams are tasked with ensuring the tenant base is both high-quality and diverse, which mitigates risk. Urban Edge Properties maintains a strong tenant mix, with 95% of tenants being national or regional names as of Q2 2025. The leasing execution is generating significant rent growth. Year-to-date through Q3 2025, leasing spreads averaged 40% on new leases and nearly 10% on renewals. This focus on high-value leasing is also reflected in the pipeline of future revenue. As of September 30, 2025, signed leases that have not yet commenced rent are projected to generate an additional $21.5 million in future annual gross rent, which is approximately 7% of the current annualized NOI.

Here's a quick look at the recent leasing performance metrics:

Metric	Period/Date	Value
New Leases Cash Spread (Same-Space Basis)	Q1 2025	34.3%
New Leases Cash Spread (Same-Space Basis)	Q2 2025	18.8%
Year-to-Date New Lease Spread	Q3 2025	40%
Q3 2025 New Leases Spread (11 deals)	Q3 2025	61%
Total Leasing Activity (SF)	Q3 2025	347,000 square feet
Signed Not Open (SNO) Future Annual Rent	September 30, 2025	$21.5 million

The relationship with tenants is also strengthened by ongoing investment in the centers themselves. The company completed five redevelopment projects in Q2 2025 and has a current redevelopment pipeline totaling $149 million with a projected yield of 15%. This commitment to improving the physical space is a tangible demonstration of partnership to the existing customer base.

• Focus on essential and daily-need retail categories.
• Portfolio concentrated in supply-constrained urban markets.
• Redevelopment projects are largely pre-leased, limiting risk.
• Capital recycling strategy involves selling non-core assets at a 5% cap rate.
• Acquisitions, like Brighton Mills Shopping Center for $39 million, are grocery-anchored.

Urban Edge Properties (UE) - Canvas Business Model: Channels

You're looking at how Urban Edge Properties (UE) gets its value proposition-high-quality, densely located retail space-to its customers, which are both tenants and capital providers. The channels they use are very direct, which makes sense for a REIT focused on hands-on management in supply-constrained markets.

Direct In-House Leasing Team

Urban Edge Properties relies heavily on its internal team to drive leasing activity across its portfolio. This direct approach helps them maintain control over tenant mix and lease terms. For instance, in the first quarter of 2025, the team executed 434,000 square feet across new leases, renewals, and options. New leases alone accounted for 118,000 square feet in that quarter. You can reach their leasing department directly via the phone number listed as (844) 614-4114. This team is responsible for capturing the value from their signed-but-not-commenced pipeline, which was expected to generate an additional $25.1 million in future annual gross rent as of March 31, 2025.

Investor Relations Website and SEC Filings for Capital Markets

For capital markets communication, the primary channel is the investor relations section of their website, www.uedge.com. This is where they push out all the required regulatory information, like the Form 10-Q filed on July 30, 2025. They also use this site to host webcasts for earnings calls, such as the one for the Third Quarter 2025 results on October 29, 2025. You'll find their latest investor presentations there, including documents from September, July, June, and February of 2025. This transparency supports their stated conservative balance sheet, which reported a net debt to total market capitalization of 34% as of the third quarter of 2025.

Property Management Offices at Each Center

The operational channel involves a physical presence at the assets. Urban Edge Properties maintains property management offices at each of its centers to manage the day-to-day operations and tenant relationships. While the prompt refers to 76 centers, the Q1 2025 reports indicated the portfolio consisted of 74 properties totaling 17.3 million square feet of gross leasable area. This local management structure supports their focus on densely populated, supply-constrained markets along the D.C. to Boston corridor.

Real Estate Brokers for Non-Core Asset Dispositions

When Urban Edge Properties recycles capital by selling non-core assets, they utilize real estate brokers. This is a key part of their capital recycling strategy. For example, year-to-date through the third quarter of 2025, they completed dispositions totaling $66 million. This included the sale of two non-core properties for $41 million in June 2025. These year-to-date sales were executed at a weighted average capitalization rate of 4.9%. To give you context on their recent activity, in 2024, they sold $109 million of non-core assets at a 5.2% capitalization rate.

Here's a quick look at the portfolio and disposition numbers as of late 2025:

Metric	Value/Amount	Period/Context
Properties Owned (Most Recent Count)	74	As of March 31, 2025
Gross Leasable Area (GLA)	17.3 million square feet	As of March 31, 2025
Year-to-Date Dispositions (2025)	$66 million	As of October 29, 2025
Weighted Average Cap Rate on 2025 YTD Dispositions	4.9%	Year-to-Date 2025
Q2 2025 Non-Core Dispositions	$41 million (2 properties)	June 2025
2024 Non-Core Dispositions	$109 million	Full Year 2024
Net Debt to Total Market Capitalization	34%	As of September 30, 2025

The direct leasing team is clearly the engine for their leasing channel, while the investor website serves as the central hub for capital market transparency. The property management structure is decentralized to support the physical assets. Finance: draft 13-week cash view by Friday.

Urban Edge Properties (UE) - Canvas Business Model: Customer Segments

You're looking at the core groups Urban Edge Properties (UE) serves, which directly dictates how they structure their leasing and capital allocation. This isn't just about square footage; it's about the type of commerce that thrives in their specific, supply-constrained urban locations.

National Grocery and Discount Retailers

This segment represents the essential anchors that drive consistent traffic to Urban Edge Properties centers. The company has historically focused on this necessity-based retail, with the portfolio being 80% grocery-anchored at the end of 2024, where grocers averaged $900 in sales per square foot. Anchor occupancy remains high, reported at 97.2% as of the third quarter of 2025, despite a 20 basis point decline from the prior quarter. Leasing activity in Q3 2025 included anchor leases with tenants like HomeGoods and Ross, with new leases generating a 61% spread on those specific deals.

Local and Regional Small Shop Tenants

Small shops are the lifeblood of the center's daily appeal, and their performance is a key indicator of overall center health. As you noted, shop occupancy is a critical metric. As of the second and third quarters of 2025, shop leased occupancy reached a record high of 92.5%. The company is actively working to improve this further, targeting shop occupancy to exceed 93% by the end of 2025. Urban Edge Properties maintains a strong tenant mix, reporting that 95% of tenants are national and regional operators as of Q2 2025.

The leasing momentum shows strong demand across the board:

• Year-to-date leasing spreads on new deals averaged 40% through Q3 2025.
• New leases in Q3 2025 generated an average cash spread of 21%.
• Renewals year-to-date through Q3 2025 averaged nearly 10%.

Institutional and Individual Investors Seeking Dividend Income from a REIT

For investors, Urban Edge Properties is positioned as an income-generating Real Estate Investment Trust (REIT). The company declared a quarterly common dividend of $0.19 per share in November 2025. This followed a 12% dividend increase announced in early 2025, setting the annualized dividend at $0.76 per share. As of Q2 2025, the stock offered an attractive dividend yield of 3.88%. The balance sheet supports this, with net debt to total market capitalization at 34% as of Q3 2025.

Here's a quick look at the financial metrics relevant to investor confidence:

Metric	Value (As of Q2/Q3 2025)	Period/Context
FFO as Adjusted (Q3 2025)	$0.36 per share	Quarterly result
2025 FFO as Adjusted Guidance (Raised)	$1.42 to $1.44 per share	Full-year outlook
Same-Property NOI Growth (Q3 2025)	4.7% year-over-year	Including redevelopment
Total Liquidity	Approximately $800 million	As of Q2 2025

Consumers in Dense, Urban Communities Who Use Necessity-Based Retail

The fundamental customer segment is the population living near the properties. Urban Edge Properties focuses on owning, managing, and acquiring centers in the most densely populated, supply-constrained markets in the country. This focus means the consumer base is characterized by high density and high income potential. For instance, the 3-mile trade area around the Brighton Mills acquisition in the Boston area has 449,000 people with average household incomes of $170,000. The portfolio benefits from a 9K 3-mile population density metric. This demographic profile supports the necessity-based retail model, as these consumers rely on the local centers for daily needs.

Urban Edge Properties (UE) - Canvas Business Model: Cost Structure

Interest and debt expense remains a significant cost component for Urban Edge Properties, reflecting the capital-intensive nature of real estate ownership. For the full-year 2025 outlook, Urban Edge Properties guided for interest and debt expense ranging from $\$78.5$ million to $\$80.5$ million. This is based on their debt structure, which as of June 30, 2025, included mortgages payable of $\$1.53$ billion, with a weighted average term to maturity of $4.3$ years, all fixed rate or hedged.

Recurring General and Administrative (G&A) expenses are managed tightly, with management providing specific guidance. The latest full-year 2025 outlook for recurring G&A expenses is set in a range of $\$34.5$ million to $\$35.5$ million. This figure reflects management's continued efforts to control third-party spending and internal costs, including headcount.

The costs associated with maintaining and enhancing the portfolio are substantial. Urban Edge Properties has active capital projects underway to drive future returns. As of June 30, 2025, the Company reported $\$141.8$ million of active redevelopment projects underway, with estimated remaining costs to complete of $\$76.6$ million. This compares to the Q1 2025 figure where they had $\$156.4$ million in active projects underway with estimated remaining costs of $\$84.8$ million.

To give you a clearer picture of the scale of these costs, here is a snapshot of key financial figures and guidance points for the 2025 fiscal year or the latest reported quarter:

Cost/Expense Category	Financial Figure (2025)	Period/Context
Interest and Debt Expense (Guidance Range)	$\$78.5$ million to $\$80.5$ million	Full Year 2025 Outlook
Recurring General and Administrative (G&A) Expenses (Guidance Range)	$\$34.5$ million to $\$35.5$ million	Full Year 2025 Outlook
Total Operating Expenses	$\$85.67$ million	Quarter Ending September 2025
Active Redevelopment Projects Underway	$\$141.8$ million	As of June 30, 2025
Estimated Remaining Costs for Active Redevelopment	$\$76.6$ million	As of June 30, 2025

Property operating expenses, which include real estate taxes, utilities, and insurance, are generally managed at the property level and factored into the Net Operating Income (NOI) calculation, which is reported separately. The total reported Operating Expenses for the quarter ending September 2025 was $\$85.67$ million.

You should also note the debt maturity schedule impacts refinancing costs. As of June 30, 2025, Urban Edge Properties had limited debt maturities coming due through 2026, aggregating $\$138.3$ million, which represented approximately 9% of outstanding debt. This included one mortgage of $\$23.5$ million maturing in December 2025.

• Debt maturities through 2026: $\$138.3$ million.
• Mortgages payable as of June 30, 2025: $\$1.53$ billion.
• Debt maturing in December 2025: $\$23.5$ million.
• Debt maturing in December 2026: $\$114.8$ million.

Urban Edge Properties (UE) - Canvas Business Model: Revenue Streams

You're looking at the core ways Urban Edge Properties (UE) brings in money, which is pretty standard for a retail Real Estate Investment Trust (REIT), but with a focus on necessity-based centers. The revenue streams are built on long-term leases, operational efficiency, and strategic asset management. Honestly, the primary driver is the rent roll.

Rental income from minimum rents is the bedrock of the Urban Edge Properties model. This is the fixed, contractual rent paid by tenants under their leases, which provides the stability you want to see in a REIT portfolio. While specific minimum rent figures aren't broken out separately from total revenue in the latest filings, the overall health of this stream is reflected in the strong operational metrics.

The company's focus on necessity-based retail, with its portfolio being about 80% grocery-anchored as of early 2025, supports this base rent collection. The projected full-year 2025 revenue, according to analyst estimates, is pegged around $471.87 million. This figure is overwhelmingly composed of these rental payments.

Tenant reimbursement revenue (recoveries) from operating expenses is the second key component. This covers the costs tenants pay back to Urban Edge Properties for property operating expenses, often called NNN (triple net) or operating expense recoveries. The latest results confirm this stream is growing; for the nine months ended September 30, 2025, increases in same-property Net Operating Income (NOI) were driven by rent commencements and higher net recovery revenue.

The third, more variable stream comes from gains on the sale of non-core real estate assets. This is capital recycling-selling properties that no longer fit the core strategy to fund acquisitions or pay down debt. We saw concrete activity here in 2025:

• Year-to-date through the second quarter of 2025, Urban Edge Properties had sold $66 million of assets at a weighted average capitalization rate of 4.9%.
• The sale of two non-core properties closed in June 2025 for $41 million.
• The nine months ended September 30, 2025, included a $49.7 million gain on sale related to three non-core dispositions completed in the second quarter of 2025.
• In the first quarter of 2025, the company sold a portion of its Bergen Town Center East property for $25 million.

Here's a look at how the overall financial picture for 2025 is shaping up, which gives context to the revenue base:

Metric	Financial Number/Projection
Projected Full-Year 2025 Revenue (Analyst Estimate)	$471.87 million
FFO as Adjusted Guidance Midpoint (Full Year 2025)	$1.43 per diluted share
Same-Property NOI Growth Target (Midpoint, 2025)	3.5%
Gross Rents Expected from Signed-but-not-Open Pipeline (2025)	$8 million
Total Dispositions Year-to-Date (as of Q2 2025)	$66 million

The recurring revenue from rents and recoveries is what drives the FFO as Adjusted guidance, which was raised to a range of $1.42 to $1.44 per diluted share for the full year 2025 following strong Q3 results. That's the real story behind the minimum rents. If onboarding takes 14+ days, churn risk rises, but their leasing pipeline is helping offset that. Finance: draft 13-week cash view by Friday.