UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549





FORM 10-K

(Amendment No. 1)







|x | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|- | ------------------------------------------------------------------------------------

For the fiscal year ended December 31, 2015

Commission file number 001-37420





SERITAGE
GROWTH PROPERTIES

(Exact name of registrant as specified in its charter)







|                                                               |  |                                     
|-------------------------------------------------------------- |  | ------------------------------------
|Maryland                                                       |  | 38-3976287                          
|(State or Other Jurisdiction of
Incorporation or Organization) |  | (I.R.S. Employer
Identification No.)
|                                                               | 
|489 Fifth Avenue, 18th Floor, New York, New York               |  | 10017                               
|(Address of principal executive offices)                       |  | (Zip Code)                          

Registrants telephone number, including area code (212) 355-7800





Securities registered pursuant to Section 12(b) of the Act:



|                                                                        |  |                                          
|----------------------------------------------------------------------- |  | -----------------------------------------
|Title of each class                                                     |  | Name of each exchange on which registered
|Class A common shares of beneficial interest, par value $0.01 per share |  | New York Stock Exchange                  





Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.    Yes   ̈    No  x

Indicate by check mark
if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.    Yes   ̈    No  x

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past
90 days.    Yes  x    No   ̈



Indicate by check mark whether the registrant has submitted electronically and
posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the
registrant was required to submit and post such files).    Yes  x    No   ̈

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§232.405 of this chapter) is not contained herein,
and will not be contained, to the best of registrants knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.   ̈

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a
non-accelerated filer, or a smaller reporting company. See the definitions of large accelerated filer, accelerated filer and smaller reporting company in Rule 12b-2 of the Exchange Act (Check one):



|                        |  |                                                  |  |                           |  |  
|----------------------- |  | ------------------------------------------------ |  | ------------------------- |  | -
|Large accelerated filer |  |  ̈                                                |  | Accelerated filer         |  |  ̈
|Non-accelerated filer   |  | x  (Do not check if a smaller reporting company) |  | Smaller reporting company |  |  ̈

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the
Act).    Yes   ̈    No  x

The aggregate market value of the voting and non-voting common equity held by non-affiliates of the registrant as of July 6, 2015 was approximately
$1,163,986,000 based upon the closing price of $37.10 of the registrants common stock as reported on the New York Stock Exchange. The registrant has elected to use July 6, 2015 as the calculation date, which was the initial trading date
of the registrants common shares on the New York Stock Exchange, because as of the last business day of the registrants second fiscal quarter, the registrant was a privately-held company.

As of March 4, 2016, the registrant had the following commons shares outstanding:



|                                                                        |  |                    |            | 
|----------------------------------------------------------------------- |  | ------------------ | ---------- | 
|Class                                                                   |  | Shares Outstanding |           
|Class A common shares of beneficial interest, par value $0.01 per share |  |                    | 25,261,542 | 
|Class B common shares of beneficial interest, par value $0.01 per share |  |                    | 1,589,020  | 
|Class C common shares of beneficial interest, par value $0.01 per share |  |                    | 6,329,485  | 

DOCUMENTS INCORPORATED BY REFERENCE

Portions of Seritage Growth Properties Proxy Statement for its 2016 Annual Meeting of Shareholders are incorporated by reference into Part III of this
Annual Report on Form 10-K.









---

EXPLANATORY NOTE

Seritage Growth Properties. (the Company) is filing this Amendment No. 1 (Amendment No. 1) to its Annual Report on Form 10-K for the period from July 7, 2015 (Date Operations Commenced) through December 31, 2015, which was originally filed with the Securities and Exchange Commission on March 11, 2016 (the
Original Annual Report), for the sole purpose of correcting typographical errors including the unintentional omission of rows 98-99 and 131-136 in the table of properties set forth in Item 2.

Pursuant to Rule 12b-15 under Securities Exchange Act of 1934, as amended, this Amendment No. 1 on Form 10-K also contains new
Rule 13a-14(a)/15d-14(a) Certifications, which are attached hereto. Because no financial statements have been amended by or included in this Amendment No. 1 on Form 10-K and this Amendment No. 1 on Form 10-K does
not contain or amend any disclosure with respect to Items 307 and 308 of Regulation S-K, paragraphs 3, 4 and 5 of the certifications have been omitted.

This Amendment No. 1 on Form 10-K continues to speak as of the date of the filing of the Original Annual Report, and the Company has not changed the
financial statements nor updated the disclosures contained therein to reflect any events that may have occurred at a later date.



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|ITEM 2. | PROPERTIES
|------- | ----------

As of December 31, 2015, our portfolio included 235 Wholly Owned Properties totaling
over 37.0 million square feet of GLA across 49 states and Puerto Rico, and 50% interests in 31 JV Properties totaling over 5.4 million square feet of GLA across 17 states. The following tables set forth certain information regarding our
Wholly Owned Properties and JV Properties based on signed leases as of December 31, 2015, including signed but not yet open leases (SNO leases):



|                        |  |                   |  |       |  |                        |     |   |         |  |         |               |  |  |              |  |  |        |         |  |               |  |                                     |  |         |       |  |                                                                              |  |  |       |  
|----------------------- |  | ----------------- |  | ----- |  | ---------------------- | --- | - | ------- |  | ------- | ------------- |  |  | ------------ |  |  | ------ | ------- |  | ------------- |  | ----------------------------------- |  | ------- | ----- |  | ---------------------------------------------------------------------------- |  |  | ----- | -
|Wholly Owned Properties | 
|                        |  |                   |  |       |  |                        |     |   | GLA (3) |  |         |               |  |  |              |  | 
|                        |  | City              |  | State |  | RecaptureRights (1)(2) |     |   | Total   |  |         | SearsHoldings |  |  | ThirdParties |  |  | Vacant |         |  | Sears orKmart |  | Significant Third-party Tenants (3) |  | %Leased |      
|1                       |  | Anchorage         |  | AK    |  |                        | 100 | % |         |  | 257,900 |               |  |  | 204,100      |  |  |        | 42,900  |  |               |  | 10,900                              |  |         | Sears |  | Lands End, Nordstrom Rack                                                   |  |  | 95.8  | %
|2                       |  | Cullman           |  | AL    |  |                        | 50  | % |         |  | 98,500  |               |  |  | 98,500       |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                                                          |  |  | 100.0 | %
|3                       |  | North Little Rock |  | AR    |  |                        | 50  | % |         |  | 185,700 |               |  |  | 185,700      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                                                          |  |  | 100.0 | %
|4                       |  | Russellville      |  | AR    |  |                        | 50  | % |         |  | 88,000  |               |  |  | 88,000       |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                                                          |  |  | 100.0 | %
|5                       |  | Flagstaff         |  | AZ    |  |                        | 50  | % |         |  | 66,200  |               |  |  | 66,200       |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                                                          |  |  | 100.0 | %
|6                       |  | Mesa              |  | AZ    |  |                        | 50  | % |         |  | 121,900 |               |  |  | 121,900      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                                                          |  |  | 100.0 | %
|7                       |  | Peoria            |  | AZ    |  |                        | n/a |   |         |  | 104,400 |               |  |  | 0            |  |  |        | 104,400 |  |               |  | 0                                   |  |         | n/a   |  | At Home                                                                      |  |  | 100.0 | %
|8                       |  | Phoenix           |  | AZ    |  |                        | 50  | % |         |  | 144,200 |               |  |  | 144,200      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                                                          |  |  | 100.0 | %
|9                       |  | Phoenix           |  | AZ    |  |                        | n/a |   |         |  | 151,200 |               |  |  | 0            |  |  |        | 151,200 |  |               |  | 0                                   |  |         | n/a   |  | At Home                                                                      |  |  | 100.0 | %
|10                      |  | Prescott          |  | AZ    |  |                        | 50  | % |         |  | 102,300 |               |  |  | 102,300      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                                                          |  |  | 100.0 | %
|11                      |  | Sierra Vista      |  | AZ    |  |                        | 50  | % |         |  | 94,700  |               |  |  | 94,700       |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                                                          |  |  | 100.0 | %
|12                      |  | Sierra Vista      |  | AZ    |  |                        | 50  | % |         |  | 86,100  |               |  |  | 86,100       |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                                                          |  |  | 100.0 | %
|13                      |  | Tucson            |  | AZ    |  |                        | 50  | % |         |  | 250,100 |               |  |  | 250,100      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                                                          |  |  | 100.0 | %
|14                      |  | Yuma              |  | AZ    |  |                        | 50  | % |         |  | 90,400  |               |  |  | 90,400       |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                                                          |  |  | 100.0 | %
|15                      |  | Antioch           |  | CA    |  |                        | 50  | % |         |  | 95,200  |               |  |  | 95,200       |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                                                          |  |  | 100.0 | %
|16                      |  | Big Bear Lake     |  | CA    |  |                        | 50  | % |         |  | 80,000  |               |  |  | 69,300       |  |  |        | 7,900   |  |               |  | 2,800                               |  |         | Kmart |  | Radio Shack, Subway, Wells Fargo Bank                                        |  |  | 96.5  | %
|17                      |  | Carson            |  | CA    |  |                        | 50  | % |         |  | 181,200 |               |  |  | 163,400      |  |  |        | 17,800  |  |               |  | 0                                   |  |         | Sears |  | Applebees, Chick-Fil-A, Chipotle Mexican Grill, Jersey Mikes, Smash Burger |  |  | 100.0 | %
|18                      |  | Chula Vista       |  | CA    |  |                        | 50  | % |         |  | 250,100 |               |  |  | 250,100      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                                                          |  |  | 100.0 | %
|19                      |  | Citrus Heights    |  | CA    |  |                        | 50  | % |         |  | 289,500 |               |  |  | 280,700      |  |  |        | 8,800   |  |               |  | 0                                   |  |         | Sears |  | Lands End                                                                   |  |  | 100.0 | %
|20                      |  | Delano            |  | CA    |  |                        | 50  | % |         |  | 86,100  |               |  |  | 86,100       |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                                                          |  |  | 100.0 | %
|21                      |  | El Cajon          |  | CA    |  |                        | 50  | % |         |  | 286,500 |               |  |  | 275,700      |  |  |        | 10,800  |  |               |  | 0                                   |  |         | Sears |  | Lands End, Wireless Choice                                                  |  |  | 100.0 | %
|22                      |  | El Centro         |  | CA    |  |                        | 50  | % |         |  | 139,700 |               |  |  | 139,700      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                                                          |  |  | 100.0 | %
|23                      |  | Fairfield         |  | CA    |  |                        | 50  | % |         |  | 164,100 |               |  |  | 159,300      |  |  |        | 4,800   |  |               |  | 0                                   |  |         | Sears |  | Lands End                                                                   |  |  | 100.0 | %
|24                      |  | Florin            |  | CA    |  |                        | 50  | % |         |  | 272,700 |               |  |  | 272,700      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                                                          |  |  | 100.0 | %
|25                      |  | Fresno            |  | CA    |  |                        | 50  | % |         |  | 217,600 |               |  |  | 217,600      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                                                          |  |  | 100.0 | %
|26                      |  | McKinleyville     |  | CA    |  |                        | 50  | % |         |  | 94,800  |               |  |  | 94,800       |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                                                          |  |  | 100.0 | %
|27                      |  | Merced            |  | CA    |  |                        | 50  | % |         |  | 92,600  |               |  |  | 92,600       |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                                                          |  |  | 100.0 | %
|28                      |  | Montclair         |  | CA    |  |                        | 50  | % |         |  | 174,700 |               |  |  | 174,700      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                                                          |  |  | 100.0 | %
|29                      |  | Moreno Valley     |  | CA    |  |                        | 50  | % |         |  | 169,400 |               |  |  | 169,400      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                                                          |  |  | 100.0 | %
|30                      |  | Newark            |  | CA    |  |                        | 50  | % |         |  | 145,800 |               |  |  | 145,800      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                                                          |  |  | 100.0 | %



---

|                        |  |                   |  |       |  |                        |     |   |         |  |         |               |  |  |              |  |  |        |         |  |               |  |                                     |  |         |       |  |                                           |  |  |       |  
|----------------------- |  | ----------------- |  | ----- |  | ---------------------- | --- | - | ------- |  | ------- | ------------- |  |  | ------------ |  |  | ------ | ------- |  | ------------- |  | ----------------------------------- |  | ------- | ----- |  | ----------------------------------------- |  |  | ----- | -
|Wholly Owned Properties | 
|                        |  |                   |  |       |  |                        |     |   | GLA (3) |  |         |               |  |  |              |  | 
|                        |  | City              |  | State |  | RecaptureRights (1)(2) |     |   | Total   |  |         | SearsHoldings |  |  | ThirdParties |  |  | Vacant |         |  | Sears orKmart |  | Significant Third-party Tenants (3) |  | %Leased |      
|31                      |  | North Hollywood   |  | CA    |  |                        | 50  | % |         |  | 151,000 |               |  |  | 151,000      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                       |  |  | 100.0 | %
|32                      |  | Northridge        |  | CA    |  |                        | 50  | % |         |  | 291,800 |               |  |  | 256,900      |  |  |        | 34,900  |  |               |  | 0                                   |  |         | Sears |  | Ashley Furniture                          |  |  | 100.0 | %
|33                      |  | Palm Desert       |  | CA    |  |                        | 50  | % |         |  | 151,500 |               |  |  | 151,500      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                       |  |  | 100.0 | %
|34                      |  | Ramona            |  | CA    |  |                        | 50  | % |         |  | 107,500 |               |  |  | 87,000       |  |  |        | 14,700  |  |               |  | 5,800                               |  |         | Kmart |  | Dollar Tree, Little Caesars              |  |  | 94.6  | %
|35                      |  | Riverside         |  | CA    |  |                        | 50  | % |         |  | 214,200 |               |  |  | 202,000      |  |  |        | 12,200  |  |               |  | 0                                   |  |         | Sears |  | Bank of America                           |  |  | 100.0 | %
|36                      |  | Riverside         |  | CA    |  |                        | 50  | % |         |  | 132,600 |               |  |  | 94,500       |  |  |        | 38,100  |  |               |  | 0                                   |  |         | Kmart |  | Jack in the Box                           |  |  | 100.0 | %
|37                      |  | Roseville         |  | CA    |  |                        | 50  | % |         |  | 139,000 |               |  |  | 131,400      |  |  |        | 7,600   |  |               |  | 0                                   |  |         | Sears |  | Lands End                                |  |  | 100.0 | %
|38                      |  | Salinas           |  | CA    |  |                        | 50  | % |         |  | 133,000 |               |  |  | 133,000      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                       |  |  | 100.0 | %
|39                      |  | San Bernardino    |  | CA    |  |                        | 100 | % |         |  | 264,700 |               |  |  | 264,700      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                       |  |  | 100.0 | %
|40                      |  | San Bruno         |  | CA    |  |                        | 50  | % |         |  | 276,600 |               |  |  | 267,900      |  |  |        | 8,700   |  |               |  | 0                                   |  |         | Sears |  | Lands End                                |  |  | 100.0 | %
|41                      |  | San Diego         |  | CA    |  |                        | 50  | % |         |  | 194,800 |               |  |  | 164,800      |  |  |        | 30,000  |  |               |  | 0                                   |  |         | Sears |  | Lands End, Williams-Sonoma               |  |  | 100.0 | %
|42                      |  | San Jose          |  | CA    |  |                        | 50  | % |         |  | 262,500 |               |  |  | 262,500      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                       |  |  | 100.0 | %
|43                      |  | Santa Cruz        |  | CA    |  |                        | 50  | % |         |  | 119,600 |               |  |  | 105,800      |  |  |        | 13,800  |  |               |  | 0                                   |  |         | Sears |  | Lands End                                |  |  | 100.0 | %
|44                      |  | Santa Maria       |  | CA    |  |                        | 50  | % |         |  | 108,600 |               |  |  | 108,600      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                       |  |  | 100.0 | %
|45                      |  | Santa Monica      |  | CA    |  |                        | 100 | % |         |  | 117,800 |               |  |  | 112,000      |  |  |        | 5,800   |  |               |  | 0                                   |  |         | Sears |  | Lands End                                |  |  | 100.0 | %
|46                      |  | Santa Paula       |  | CA    |  |                        | 50  | % |         |  | 71,300  |               |  |  | 71,300       |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                       |  |  | 100.0 | %
|47                      |  | Temecula          |  | CA    |  |                        | 50  | % |         |  | 115,600 |               |  |  | 115,600      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                       |  |  | 100.0 | %
|48                      |  | Thousand Oaks     |  | CA    |  |                        | 50  | % |         |  | 164,000 |               |  |  | 50,300       |  |  |        | 113,700 |  |               |  | 0                                   |  |         | Sears |  | DSW, Nordstrom Rack, The Sports Authority |  |  | 100.0 | %
|49                      |  | Ventura           |  | CA    |  |                        | 50  | % |         |  | 178,600 |               |  |  | 171,900      |  |  |        | 6,700   |  |               |  | 0                                   |  |         | Sears |  | Lands End                                |  |  | 100.0 | %
|50                      |  | Visalia           |  | CA    |  |                        | 50  | % |         |  | 75,600  |               |  |  | 75,600       |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                       |  |  | 100.0 | %
|51                      |  | West Covina       |  | CA    |  |                        | 50  | % |         |  | 142,000 |               |  |  | 142,000      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                       |  |  | 100.0 | %
|52                      |  | Westminster       |  | CA    |  |                        | 100 | % |         |  | 197,900 |               |  |  | 197,900      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                       |  |  | 100.0 | %
|53                      |  | Lakewood          |  | CO    |  |                        | 50  | % |         |  | 153,000 |               |  |  | 153,000      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                       |  |  | 100.0 | %
|54                      |  | Thornton          |  | CO    |  |                        | 50  | % |         |  | 190,200 |               |  |  | 190,200      |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                       |  |  | 100.0 | %
|55                      |  | Waterford         |  | CT    |  |                        | 50  | % |         |  | 149,300 |               |  |  | 141,800      |  |  |        | 7,500   |  |               |  | 0                                   |  |         | Sears |  | Lands End                                |  |  | 100.0 | %
|56                      |  | West Hartford     |  | CT    |  |                        | 100 | % |         |  | 202,100 |               |  |  | 186,900      |  |  |        | 15,200  |  |               |  | 0                                   |  |         | Sears |  | Lands End, Olive Garden                  |  |  | 100.0 | %
|57                      |  | Rehoboth Beach    |  | DE    |  |                        | 50  | % |         |  | 122,200 |               |  |  | 117,200      |  |  |        | 5,000   |  |               |  | 0                                   |  |         | Kmart |  | Chick-Fil-A                               |  |  | 100.0 | %
|58                      |  | Altamonte Springs |  | FL    |  |                        | 50  | % |         |  | 214,300 |               |  |  | 205,600      |  |  |        | 8,700   |  |               |  | 0                                   |  |         | Sears |  | Seasons 52                                |  |  | 100.0 | %
|59                      |  | Boca Raton        |  | FL    |  |                        | 100 | % |         |  | 178,500 |               |  |  | 167,600      |  |  |        | 10,900  |  |               |  | 0                                   |  |         | Sears |  | Lands End, Washington Mutual             |  |  | 100.0 | %
|60                      |  | Bradenton         |  | FL    |  |                        | 50  | % |         |  | 99,900  |               |  |  | 99,900       |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                       |  |  | 100.0 | %
|61                      |  | Bradenton         |  | FL    |  |                        | 50  | % |         |  | 82,900  |               |  |  | 82,900       |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                       |  |  | 100.0 | %
|62                      |  | Clearwater        |  | FL    |  |                        | 50  | % |         |  | 211,700 |               |  |  | 129,700      |  |  |        | 82,000  |  |               |  | 0                                   |  |         | Sears |  | Lands End, Nordstrom Rack, Whole Foods   |  |  | 100.0 | %
|63                      |  | Doral             |  | FL    |  |                        | 50  | % |         |  | 212,900 |               |  |  | 212,900      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                       |  |  | 100.0 | %
|64                      |  | Ft. Myers         |  | FL    |  |                        | 50  | % |         |  | 146,800 |               |  |  | 146,800      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                       |  |  | 100.0 | %
|65                      |  | Gainesville       |  | FL    |  |                        | 50  | % |         |  | 140,500 |               |  |  | 140,500      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                       |  |  | 100.0 | %
|66                      |  | Hialeah           |  | FL    |  |                        | 50  | % |         |  | 197,400 |               |  |  | 184,400      |  |  |        | 13,000  |  |               |  | 0                                   |  |         | Sears |  | Forever 21, Goodwill                      |  |  | 100.0 | %



---

|                        |  |                 |  |       |  |                        |     |   |         |  |         |               |  |  |              |  |  |        |         |  |               |  |                                     |  |         |       |  |                                           |  |  |       |  
|----------------------- |  | --------------- |  | ----- |  | ---------------------- | --- | - | ------- |  | ------- | ------------- |  |  | ------------ |  |  | ------ | ------- |  | ------------- |  | ----------------------------------- |  | ------- | ----- |  | ----------------------------------------- |  |  | ----- | -
|Wholly Owned Properties | 
|                        |  |                 |  |       |  |                        |     |   | GLA (3) |  |         |               |  |  |              |  | 
|                        |  | City            |  | State |  | RecaptureRights (1)(2) |     |   | Total   |  |         | SearsHoldings |  |  | ThirdParties |  |  | Vacant |         |  | Sears orKmart |  | Significant Third-party Tenants (3) |  | %Leased |      
|67                      |  | Hialeah         |  | FL    |  |                        | 50  | % |         |  | 106,400 |               |  |  | 88,400       |  |  |        | 18,000  |  |               |  | 0                                   |  |         | Kmart |  | Aldi                                      |  |  | 100.0 | %
|68                      |  | Kissimmee       |  | FL    |  |                        | 50  | % |         |  | 148,900 |               |  |  | 112,500      |  |  |        | 36,400  |  |               |  | 0                                   |  |         | Kmart |  | Big Lots                                  |  |  | 100.0 | %
|69                      |  | Lakeland        |  | FL    |  |                        | 50  | % |         |  | 156,200 |               |  |  | 156,200      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                       |  |  | 100.0 | %
|70                      |  | Melbourne       |  | FL    |  |                        | 50  | % |         |  | 102,600 |               |  |  | 102,600      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                       |  |  | 100.0 | %
|71                      |  | Miami           |  | FL    |  |                        | 100 | % |         |  | 173,300 |               |  |  | 173,300      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                       |  |  | 100.0 | %
|72                      |  | Miami           |  | FL    |  |                        | 100 | % |         |  | 170,100 |               |  |  | 170,100      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                       |  |  | 100.0 | %
|73                      |  | Naples          |  | FL    |  |                        | 50  | % |         |  | 161,900 |               |  |  | 151,800      |  |  |        | 10,100  |  |               |  | 0                                   |  |         | Sears |  | n/a                                       |  |  | 100.0 | %
|74                      |  | North Miami     |  | FL    |  |                        | 100 | % |         |  | 122,200 |               |  |  | 106,300      |  |  |        | 15,900  |  |               |  | 0                                   |  |         | Kmart |  | Aldi                                      |  |  | 100.0 | %
|75                      |  | Ocala           |  | FL    |  |                        | 50  | % |         |  | 146,200 |               |  |  | 146,200      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                       |  |  | 100.0 | %
|76                      |  | Orange Park     |  | FL    |  |                        | n/a |   |         |  | 87,400  |               |  |  | 0            |  |  |        | 87,400  |  |               |  | 0                                   |  |         | n/a   |  | Old Time Pottery, Freddys Frozen Custard |  |  | 100.0 | %
|77                      |  | Orlando         |  | FL    |  |                        | 100 | % |         |  | 202,000 |               |  |  | 197,500      |  |  |        | 4,500   |  |               |  | 0                                   |  |         | Sears |  | Lands End                                |  |  | 100.0 | %
|78                      |  | Panama City     |  | FL    |  |                        | 50  | % |         |  | 139,300 |               |  |  | 139,300      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                       |  |  | 100.0 | %
|79                      |  | Pensacola       |  | FL    |  |                        | 50  | % |         |  | 212,300 |               |  |  | 212,300      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                       |  |  | 100.0 | %
|80                      |  | Plantation      |  | FL    |  |                        | 50  | % |         |  | 201,600 |               |  |  | 201,600      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                       |  |  | 100.0 | %
|81                      |  | Sarasota        |  | FL    |  |                        | 50  | % |         |  | 212,500 |               |  |  | 204,500      |  |  |        | 8,000   |  |               |  | 0                                   |  |         | Sears |  | Lands End                                |  |  | 100.0 | %
|82                      |  | St. Petersburg  |  | FL    |  |                        | 50  | % |         |  | 120,600 |               |  |  | 120,600      |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                       |  |  | 100.0 | %
|83                      |  | St. Petersburg  |  | FL    |  |                        | 100 | % |         |  | 193,900 |               |  |  | 187,000      |  |  |        | 6,900   |  |               |  | 0                                   |  |         | Sears |  | n/a                                       |  |  | 100.0 | %
|84                      |  | Atlanta         |  | GA    |  |                        | 50  | % |         |  | 226,300 |               |  |  | 218,700      |  |  |        | 7,600   |  |               |  | 0                                   |  |         | Sears |  | Lands End                                |  |  | 100.0 | %
|85                      |  | Savannah        |  | GA    |  |                        | 100 | % |         |  | 167,300 |               |  |  | 155,700      |  |  |        | 11,600  |  |               |  | 0                                   |  |         | Sears |  | Golden Corral                             |  |  | 100.0 | %
|86                      |  | Honolulu (4)    |  | HI    |  |                        | 100 | % |         |  | 77,400  |               |  |  | 34,100       |  |  |        | 43,300  |  |               |  | 0                                   |  |         | Kmart |  | Longs Drugs (CVS), PetSmart              |  |  | 100.0 | %
|87                      |  | Algona          |  | IA    |  |                        | 50  | % |         |  | 99,300  |               |  |  | 99,300       |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                       |  |  | 100.0 | %
|88                      |  | Cedar Rapids    |  | IA    |  |                        | 50  | % |         |  | 146,000 |               |  |  | 141,100      |  |  |        | 4,900   |  |               |  | 0                                   |  |         | Sears |  | Lands End                                |  |  | 100.0 | %
|89                      |  | Charles City    |  | IA    |  |                        | 50  | % |         |  | 96,600  |               |  |  | 96,600       |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                       |  |  | 100.0 | %
|90                      |  | Webster City    |  | IA    |  |                        | 50  | % |         |  | 40,800  |               |  |  | 40,800       |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                       |  |  | 100.0 | %
|91                      |  | Boise           |  | ID    |  |                        | 50  | % |         |  | 123,600 |               |  |  | 123,600      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                       |  |  | 100.0 | %
|92                      |  | Chicago         |  | IL    |  |                        | 50  | % |         |  | 356,700 |               |  |  | 356,700      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                       |  |  | 100.0 | %
|93                      |  | Chicago         |  | IL    |  |                        | 50  | % |         |  | 293,700 |               |  |  | 293,700      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                       |  |  | 100.0 | %
|94                      |  | Chicago         |  | IL    |  |                        | 50  | % |         |  | 168,500 |               |  |  | 118,800      |  |  |        | 49,700  |  |               |  | 0                                   |  |         | Kmart |  | China Town Buffet, Chuck E Cheese         |  |  | 100.0 | %
|95                      |  | Homewood        |  | IL    |  |                        | n/a |   |         |  | 196,100 |               |  |  | 0            |  |  |        | 196,100 |  |               |  | 0                                   |  |         | n/a   |  | Wal-Mart                                  |  |  | 100.0 | %
|96                      |  | Joliet          |  | IL    |  |                        | 50  | % |         |  | 204,600 |               |  |  | 204,600      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                       |  |  | 100.0 | %
|97                      |  | Lombard         |  | IL    |  |                        | n/a |   |         |  | 139,300 |               |  |  | 0            |  |  |        | 139,300 |  |               |  | 0                                   |  |         | n/a   |  | The Dump                                  |  |  | 100.0 | %
|98                      |  | Moline          |  | IL    |  |                        | 50  | % |         |  | 123,700 |               |  |  | 120,500      |  |  |        | 3,200   |  |               |  | 0                                   |  |         | Kmart |  | n/a                                       |  |  | 100.0 | %
|99                      |  | North Riverside |  | IL    |  |                        | 50  | % |         |  | 203,000 |               |  |  | 203,000      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                       |  |  | 100.0 | %
|100                     |  | Orland Park     |  | IL    |  |                        | 50  | % |         |  | 199,600 |               |  |  | 192,400      |  |  |        | 7,200   |  |               |  | 0                                   |  |         | Sears |  | Lands End                                |  |  | 100.0 | %
|101                     |  | Springfield     |  | IL    |  |                        | 50  | % |         |  | 126,900 |               |  |  | 84,200       |  |  |        | 42,700  |  |               |  | 0                                   |  |         | Kmart |  | Casual Male, Popeyes, Staples            |  |  | 100.0 | %
|102                     |  | Steger          |  | IL    |  |                        | 50  | % |         |  | 87,400  |               |  |  | 87,400       |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                       |  |  | 100.0 | %



---

|                        |  |                  |  |       |  |                        |     |   |         |  |         |               |  |  |              |  |  |        |        |  |               |  |                                     |  |         |       |  |                                                   |  |  |       |  
|----------------------- |  | ---------------- |  | ----- |  | ---------------------- | --- | - | ------- |  | ------- | ------------- |  |  | ------------ |  |  | ------ | ------ |  | ------------- |  | ----------------------------------- |  | ------- | ----- |  | ------------------------------------------------- |  |  | ----- | -
|Wholly Owned Properties | 
|                        |  |                  |  |       |  |                        |     |   | GLA (3) |  |         |               |  |  |              |  | 
|                        |  | City             |  | State |  | RecaptureRights (1)(2) |     |   | Total   |  |         | SearsHoldings |  |  | ThirdParties |  |  | Vacant |        |  | Sears orKmart |  | Significant Third-party Tenants (3) |  | %Leased |      
|103                     |  | Elkhart          |  | IN    |  |                        | 50  | % |         |  | 86,500  |               |  |  | 86,500       |  |  |        | 0      |  |               |  | 0                                   |  |         | Kmart |  | n/a                                               |  |  | 100.0 | %
|104                     |  | Ft. Wayne        |  | IN    |  |                        | 50  | % |         |  | 220,000 |               |  |  | 213,500      |  |  |        | 6,500  |  |               |  | 0                                   |  |         | Sears |  | Lands End                                        |  |  | 100.0 | %
|105                     |  | Merrillville     |  | IN    |  |                        | 50  | % |         |  | 173,100 |               |  |  | 108,300      |  |  |        | 38,900 |  |               |  | 25,900                              |  |         | Kmart |  | Dollar Tree, Payless ShoeSource, Sherwin-Williams |  |  | 85.0  | %
|106                     |  | Leavenworth      |  | KS    |  |                        | 50  | % |         |  | 83,600  |               |  |  | 76,900       |  |  |        | 6,700  |  |               |  | 0                                   |  |         | Kmart |  | Sears Hometown                                    |  |  | 100.0 | %
|107                     |  | Overland Park    |  | KS    |  |                        | 50  | % |         |  | 223,200 |               |  |  | 215,000      |  |  |        | 8,200  |  |               |  | 0                                   |  |         | Sears |  | Lands End                                        |  |  | 100.0 | %
|108                     |  | Hopkinsville     |  | KY    |  |                        | 50  | % |         |  | 93,000  |               |  |  | 70,300       |  |  |        | 4,900  |  |               |  | 17,800                              |  |         | Kmart |  | Cato Fashions                                     |  |  | 80.9  | %
|109                     |  | Owensboro        |  | KY    |  |                        | 50  | % |         |  | 68,300  |               |  |  | 68,300       |  |  |        | 0      |  |               |  | 0                                   |  |         | Kmart |  | n/a                                               |  |  | 100.0 | %
|110                     |  | Paducah          |  | KY    |  |                        | 50  | % |         |  | 108,200 |               |  |  | 108,200      |  |  |        | 0      |  |               |  | 0                                   |  |         | Sears |  | n/a                                               |  |  | 100.0 | %
|111                     |  | Houma            |  | LA    |  |                        | 50  | % |         |  | 101,400 |               |  |  | 96,700       |  |  |        | 4,700  |  |               |  | 0                                   |  |         | Kmart |  | Meineke Car Care                                  |  |  | 100.0 | %
|112                     |  | Lafayette        |  | LA    |  |                        | 50  | % |         |  | 194,900 |               |  |  | 194,900      |  |  |        | 0      |  |               |  | 0                                   |  |         | Sears |  | n/a                                               |  |  | 100.0 | %
|113                     |  | New Iberia       |  | LA    |  |                        | 50  | % |         |  | 91,700  |               |  |  | 91,700       |  |  |        | 0      |  |               |  | 0                                   |  |         | Kmart |  | n/a                                               |  |  | 100.0 | %
|114                     |  | Braintree (4)    |  | MA    |  |                        | 100 | % |         |  | 113,500 |               |  |  | 65,900       |  |  |        | 47,600 |  |               |  | 0                                   |  |         | Kmart |  | Nordstrom Rack                                    |  |  | 100.0 | %
|115                     |  | Saugus           |  | MA    |  |                        | 50  | % |         |  | 210,500 |               |  |  | 204,900      |  |  |        | 5,600  |  |               |  | 0                                   |  |         | Sears |  | Lands End                                        |  |  | 100.0 | %
|116                     |  | Bowie            |  | MD    |  |                        | 50  | % |         |  | 131,500 |               |  |  | 131,500      |  |  |        | 0      |  |               |  | 0                                   |  |         | Sears |  | n/a                                               |  |  | 100.0 | %
|117                     |  | Cockeysville     |  | MD    |  |                        | 50  | % |         |  | 165,900 |               |  |  | 149,700      |  |  |        | 16,200 |  |               |  | 0                                   |  |         | Sears |  | Lands End                                        |  |  | 100.0 | %
|118                     |  | Edgewater        |  | MD    |  |                        | 50  | % |         |  | 117,200 |               |  |  | 117,200      |  |  |        | 0      |  |               |  | 0                                   |  |         | Kmart |  | n/a                                               |  |  | 100.0 | %
|119                     |  | Hagerstown       |  | MD    |  |                        | 50  | % |         |  | 122,700 |               |  |  | 122,700      |  |  |        | 0      |  |               |  | 0                                   |  |         | Sears |  | n/a                                               |  |  | 100.0 | %
|120                     |  | Madawaska        |  | ME    |  |                        | 50  | % |         |  | 49,700  |               |  |  | 49,700       |  |  |        | 0      |  |               |  | 0                                   |  |         | Kmart |  | n/a                                               |  |  | 100.0 | %
|121                     |  | Alpena           |  | MI    |  |                        | 50  | % |         |  | 118,200 |               |  |  | 118,200      |  |  |        | 0      |  |               |  | 0                                   |  |         | Kmart |  | n/a                                               |  |  | 100.0 | %
|122                     |  | Jackson          |  | MI    |  |                        | 50  | % |         |  | 152,700 |               |  |  | 144,200      |  |  |        | 8,500  |  |               |  | 0                                   |  |         | Sears |  | Panera Bread, Pizza Hut                           |  |  | 100.0 | %
|123                     |  | Lincoln Park     |  | MI    |  |                        | 50  | % |         |  | 301,700 |               |  |  | 297,900      |  |  |        | 3,800  |  |               |  | 0                                   |  |         | Sears |  | Bank of America                                   |  |  | 100.0 | %
|124                     |  | Manistee         |  | MI    |  |                        | 50  | % |         |  | 94,600  |               |  |  | 87,800       |  |  |        | 6,800  |  |               |  | 0                                   |  |         | Kmart |  | Hometown Dealer                                   |  |  | 100.0 | %
|125                     |  | Roseville        |  | MI    |  |                        | 50  | % |         |  | 385,400 |               |  |  | 367,400      |  |  |        | 18,000 |  |               |  | 0                                   |  |         | Sears |  | Lands End, Red Robin                             |  |  | 100.0 | %
|126                     |  | Sault Ste. Marie |  | MI    |  |                        | 50  | % |         |  | 92,700  |               |  |  | 92,700       |  |  |        | 0      |  |               |  | 0                                   |  |         | Kmart |  | n/a                                               |  |  | 100.0 | %
|127                     |  | St. Clair Shores |  | MI    |  |                        | 100 | % |         |  | 122,200 |               |  |  | 118,000      |  |  |        | 4,200  |  |               |  | 0                                   |  |         | Kmart |  | n/a                                               |  |  | 100.0 | %
|128                     |  | Troy             |  | MI    |  |                        | 50  | % |         |  | 402,600 |               |  |  | 380,900      |  |  |        | 21,700 |  |               |  | 0                                   |  |         | Sears |  | Krispy Kreme, Lands End, Logans Roadhouse       |  |  | 100.0 | %
|129                     |  | Ypsilanti        |  | MI    |  |                        | n/a |   |         |  | 99,400  |               |  |  | 0            |  |  |        | 99,400 |  |               |  | 0                                   |  |         | n/a   |  | At Home                                           |  |  | 100.0 | %
|130                     |  | Burnsville       |  | MN    |  |                        | 50  | % |         |  | 167,400 |               |  |  | 161,700      |  |  |        | 5,700  |  |               |  | 0                                   |  |         | Sears |  | Lands End                                        |  |  | 100.0 | %
|131                     |  | Detroit Lakes    |  | MN    |  |                        | 50  | % |         |  | 87,100  |               |  |  | 79,100       |  |  |        | 8,000  |  |               |  | 0                                   |  |         | Kmart |  | Hometown Dealer                                   |  |  | 100.0 | %
|132                     |  | Maplewood        |  | MN    |  |                        | 50  | % |         |  | 174,900 |               |  |  | 168,500      |  |  |        | 6,400  |  |               |  | 0                                   |  |         | Sears |  | Lands End                                        |  |  | 100.0 | %
|133                     |  | St. Paul         |  | MN    |  |                        | 100 | % |         |  | 217,900 |               |  |  | 216,300      |  |  |        | 1,600  |  |               |  | 0                                   |  |         | Sears |  | n/a                                               |  |  | 100.0 | %
|134                     |  | Cape Girardeau   |  | MO    |  |                        | 50  | % |         |  | 82,600  |               |  |  | 82,600       |  |  |        | 0      |  |               |  | 0                                   |  |         | Kmart |  | n/a                                               |  |  | 100.0 | %
|135                     |  | Florissant       |  | MO    |  |                        | 50  | % |         |  | 119,000 |               |  |  | 114,700      |  |  |        | 4,300  |  |               |  | 0                                   |  |         | Kmart |  | n/a                                               |  |  | 100.0 | %
|136                     |  | Jefferson City   |  | MO    |  |                        | 50  | % |         |  | 97,100  |               |  |  | 92,000       |  |  |        | 5,100  |  |               |  | 0                                   |  |         | Kmart |  | Ruby Tuesday                                      |  |  | 100.0 | %



---

|                        |  |                  |  |       |  |                        |     |   |         |  |         |               |  |  |              |  |  |        |         |  |               |  |                                     |  |         |       |  |                                                                                 |  |  |       |  
|----------------------- |  | ---------------- |  | ----- |  | ---------------------- | --- | - | ------- |  | ------- | ------------- |  |  | ------------ |  |  | ------ | ------- |  | ------------- |  | ----------------------------------- |  | ------- | ----- |  | ------------------------------------------------------------------------------- |  |  | ----- | -
|Wholly Owned Properties | 
|                        |  |                  |  |       |  |                        |     |   | GLA (3) |  |         |               |  |  |              |  | 
|                        |  | City             |  | State |  | RecaptureRights (1)(2) |     |   | Total   |  |         | SearsHoldings |  |  | ThirdParties |  |  | Vacant |         |  | Sears orKmart |  | Significant Third-party Tenants (3) |  | %Leased |      
|137                     |  | Springfield      |  | MO    |  |                        | n/a |   |         |  | 112,900 |               |  |  | 0            |  |  |        | 112,900 |  |               |  | 0                                   |  |         | n/a   |  | At Home                                                                         |  |  | 100.0 | %
|138                     |  | Columbus         |  | MS    |  |                        | 50  | % |         |  | 166,700 |               |  |  | 117,100      |  |  |        | 2,800   |  |               |  | 46,800                              |  |         | Kmart |  | Enterprise Leasing Company                                                      |  |  | 71.9  | %
|139                     |  | Havre            |  | MT    |  |                        | 50  | % |         |  | 94,700  |               |  |  | 94,700       |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                                                             |  |  | 100.0 | %
|140                     |  | Asheville        |  | NC    |  |                        | 50  | % |         |  | 240,700 |               |  |  | 232,400      |  |  |        | 8,300   |  |               |  | 0                                   |  |         | Sears |  | Lands End                                                                      |  |  | 100.0 | %
|141                     |  | Concord          |  | NC    |  |                        | 50  | % |         |  | 171,300 |               |  |  | 137,500      |  |  |        | 33,800  |  |               |  | 0                                   |  |         | Kmart |  | Sears Outlet                                                                    |  |  | 100.0 | %
|142                     |  | Greensboro       |  | NC    |  |                        | n/a |   |         |  | 173,300 |               |  |  | 0            |  |  |        | 171,600 |  |               |  | 1,700                               |  |         | n/a   |  | Floor & Décor, Gabriel Brothers, Sears Outlet                                   |  |  | 99.0  | %
|143                     |  | Minot            |  | ND    |  |                        | 50  | % |         |  | 110,400 |               |  |  | 108,100      |  |  |        | 2,300   |  |               |  | 0                                   |  |         | Kmart |  | US Bank                                                                         |  |  | 100.0 | %
|144                     |  | Kearney          |  | NE    |  |                        | 50  | % |         |  | 86,500  |               |  |  | 86,500       |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                                                             |  |  | 100.0 | %
|145                     |  | Manchester       |  | NH    |  |                        | 50  | % |         |  | 144,100 |               |  |  | 135,100      |  |  |        | 9,000   |  |               |  | 0                                   |  |         | Sears |  | Lands End                                                                      |  |  | 100.0 | %
|146                     |  | Nashua           |  | NH    |  |                        | 50  | % |         |  | 167,100 |               |  |  | 159,500      |  |  |        | 7,600   |  |               |  | 0                                   |  |         | Sears |  | Lands End                                                                      |  |  | 100.0 | %
|147                     |  | Portsmouth       |  | NH    |  |                        | 50  | % |         |  | 127,000 |               |  |  | 120,100      |  |  |        | 6,900   |  |               |  | 0                                   |  |         | Sears |  | Lands End                                                                      |  |  | 100.0 | %
|148                     |  | Salem            |  | NH    |  |                        | 50  | % |         |  | 206,500 |               |  |  | 119,000      |  |  |        | 87,500  |  |               |  | 0                                   |  |         | Sears |  | Dicks Sporting Goods, Lands End                                               |  |  | 100.0 | %
|149                     |  | Middletown       |  | NJ    |  |                        | 100 | % |         |  | 191,200 |               |  |  | 176,100      |  |  |        | 15,100  |  |               |  | 0                                   |  |         | Sears |  | Investors Bank, Lands End, Wendys                                             |  |  | 100.0 | %
|150                     |  | Watchung         |  | NJ    |  |                        | 100 | % |         |  | 262,900 |               |  |  | 253,900      |  |  |        | 9,000   |  |               |  | 0                                   |  |         | Sears |  | Lands End                                                                      |  |  | 100.0 | %
|151                     |  | Wayne            |  | NJ    |  |                        | 50  | % |         |  | 327,400 |               |  |  | 317,700      |  |  |        | 9,700   |  |               |  | 0                                   |  |         | Sears |  | Lands End                                                                      |  |  | 100.0 | %
|152                     |  | Deming           |  | NM    |  |                        | 50  | % |         |  | 96,600  |               |  |  | 96,600       |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                                                             |  |  | 100.0 | %
|153                     |  | Farmington       |  | NM    |  |                        | 50  | % |         |  | 90,700  |               |  |  | 90,700       |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                                                             |  |  | 100.0 | %
|154                     |  | Hobbs            |  | NM    |  |                        | 50  | % |         |  | 88,900  |               |  |  | 88,900       |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                                                             |  |  | 100.0 | %
|155                     |  | Henderson        |  | NV    |  |                        | 50  | % |         |  | 143,900 |               |  |  | 122,800      |  |  |        | 21,100  |  |               |  | 0                                   |  |         | Kmart |  | Sears Outlet                                                                    |  |  | 100.0 | %
|156                     |  | Las Vegas        |  | NV    |  |                        | 50  | % |         |  | 150,200 |               |  |  | 150,200      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                                                             |  |  | 100.0 | %
|157                     |  | Reno             |  | NV    |  |                        | 50  | % |         |  | 198,800 |               |  |  | 198,800      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                                                             |  |  | 100.0 | %
|158                     |  | Albany           |  | NY    |  |                        | 50  | % |         |  | 305,700 |               |  |  | 264,300      |  |  |        | 41,400  |  |               |  | 0                                   |  |         | Sears |  | Lands End, Whole Foods                                                         |  |  | 100.0 | %
|159                     |  | Clay             |  | NY    |  |                        | 50  | % |         |  | 146,500 |               |  |  | 138,000      |  |  |        | 8,500   |  |               |  | 0                                   |  |         | Sears |  | Lands End                                                                      |  |  | 100.0 | %
|160                     |  | East Northport   |  | NY    |  |                        | 50  | % |         |  | 195,400 |               |  |  | 187,000      |  |  |        | 8,400   |  |               |  | 0                                   |  |         | Sears |  | Lands End                                                                      |  |  | 100.0 | %
|161                     |  | Hicksville       |  | NY    |  |                        | 100 | % |         |  | 362,600 |               |  |  | 332,100      |  |  |        | 30,500  |  |               |  | 0                                   |  |         | Sears |  | Chase Bank, Chipotle Mexican Grill, Citigroup, Lands End, Red Lobster, TD Bank |  |  | 100.0 | %
|162                     |  | Johnson City     |  | NY    |  |                        | 50  | % |         |  | 155,100 |               |  |  | 155,100      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                                                             |  |  | 100.0 | %
|163                     |  | Olean            |  | NY    |  |                        | 50  | % |         |  | 118,000 |               |  |  | 118,000      |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                                                             |  |  | 100.0 | %
|164                     |  | Rochester        |  | NY    |  |                        | 50  | % |         |  | 128,500 |               |  |  | 128,500      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                                                             |  |  | 100.0 | %
|165                     |  | Sidney           |  | NY    |  |                        | 50  | % |         |  | 94,400  |               |  |  | 94,400       |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                                                             |  |  | 100.0 | %
|166                     |  | Victor           |  | NY    |  |                        | 50  | % |         |  | 123,000 |               |  |  | 115,300      |  |  |        | 7,700   |  |               |  | 0                                   |  |         | Sears |  | Lands End                                                                      |  |  | 100.0 | %
|167                     |  | Yorktown Heights |  | NY    |  |                        | 50  | % |         |  | 160,000 |               |  |  | 153,700      |  |  |        | 6,300   |  |               |  | 0                                   |  |         | Sears |  | Lands End                                                                      |  |  | 100.0 | %
|168                     |  | Canton           |  | OH    |  |                        | 50  | % |         |  | 219,400 |               |  |  | 210,400      |  |  |        | 9,000   |  |               |  | 0                                   |  |         | Sears |  | Lands End                                                                      |  |  | 100.0 | %
|169                     |  | Chapel Hill      |  | OH    |  |                        | 50  | % |         |  | 196,300 |               |  |  | 187,200      |  |  |        | 9,100   |  |               |  | 0                                   |  |         | Sears |  | Lands End                                                                      |  |  | 100.0 | %



---

|                        |  |                     |  |       |  |                        |     |   |         |  |         |               |  |  |              |  |  |        |         |  |               |  |                                     |  |         |       |  |                                                                                                                                        |  |  |       |  
|----------------------- |  | ------------------- |  | ----- |  | ---------------------- | --- | - | ------- |  | ------- | ------------- |  |  | ------------ |  |  | ------ | ------- |  | ------------- |  | ----------------------------------- |  | ------- | ----- |  | -------------------------------------------------------------------------------------------------------------------------------------- |  |  | ----- | -
|Wholly Owned Properties | 
|                        |  |                     |  |       |  |                        |     |   | GLA (3) |  |         |               |  |  |              |  | 
|                        |  | City                |  | State |  | RecaptureRights (1)(2) |     |   | Total   |  |         | SearsHoldings |  |  | ThirdParties |  |  | Vacant |         |  | Sears orKmart |  | Significant Third-party Tenants (3) |  | %Leased |      
|170                     |  | Dayton              |  | OH    |  |                        | 50  | % |         |  | 192,500 |               |  |  | 183,500      |  |  |        | 9,000   |  |               |  | 0                                   |  |         | Sears |  | Lands End                                                                                                                             |  |  | 100.0 | %
|171                     |  | Kenton              |  | OH    |  |                        | 50  | % |         |  | 96,100  |               |  |  | 96,100       |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                                                                                                                    |  |  | 100.0 | %
|172                     |  | Marietta            |  | OH    |  |                        | 50  | % |         |  | 87,500  |               |  |  | 87,500       |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                                                                                                                    |  |  | 100.0 | %
|173                     |  | Mentor              |  | OH    |  |                        | 50  | % |         |  | 219,100 |               |  |  | 208,700      |  |  |        | 10,400  |  |               |  | 0                                   |  |         | Sears |  | Lands End                                                                                                                             |  |  | 100.0 | %
|174                     |  | Middleburg Heights  |  | OH    |  |                        | 50  | % |         |  | 359,000 |               |  |  | 351,600      |  |  |        | 7,400   |  |               |  | 0                                   |  |         | Sears |  | Lands End                                                                                                                             |  |  | 100.0 | %
|175                     |  | North Canton        |  | OH    |  |                        | 50  | % |         |  | 87,100  |               |  |  | 84,200       |  |  |        | 2,900   |  |               |  | 0                                   |  |         | Kmart |  | Burger King                                                                                                                            |  |  | 100.0 | %
|176                     |  | Tallmadge           |  | OH    |  |                        | 50  | % |         |  | 84,200  |               |  |  | 84,200       |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                                                                                                                    |  |  | 100.0 | %
|177                     |  | Toledo              |  | OH    |  |                        | 50  | % |         |  | 218,700 |               |  |  | 209,900      |  |  |        | 8,800   |  |               |  | 0                                   |  |         | Sears |  | Lands End                                                                                                                             |  |  | 100.0 | %
|178                     |  | Muskogee            |  | OK    |  |                        | 50  | % |         |  | 87,500  |               |  |  | 87,500       |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                                                                                                                    |  |  | 100.0 | %
|179                     |  | Oklahoma City       |  | OK    |  |                        | 50  | % |         |  | 173,700 |               |  |  | 173,700      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                                                                                                                    |  |  | 100.0 | %
|180                     |  | Tulsa               |  | OK    |  |                        | n/a |   |         |  | 87,200  |               |  |  | 0            |  |  |        | 87,200  |  |               |  | 0                                   |  |         | n/a   |  | Long John Silvers, Hobby Lobby                                                                                                        |  |  | 100.0 | %
|181                     |  | Happy Valley        |  | OR    |  |                        | 50  | % |         |  | 144,300 |               |  |  | 137,900      |  |  |        | 6,400   |  |               |  | 0                                   |  |         | Sears |  | Lands End                                                                                                                             |  |  | 100.0 | %
|182                     |  | The Dalles          |  | OR    |  |                        | 50  | % |         |  | 87,100  |               |  |  | 87,100       |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                                                                                                                    |  |  | 100.0 | %
|183                     |  | Carlisle            |  | PA    |  |                        | 50  | % |         |  | 117,800 |               |  |  | 117,800      |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                                                                                                                    |  |  | 100.0 | %
|184                     |  | Columbia            |  | PA    |  |                        | 50  | % |         |  | 86,700  |               |  |  | 86,700       |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                                                                                                                    |  |  | 100.0 | %
|185                     |  | King Of Prussia (5) |  | PA    |  |                        | n/a |   |         |  | 210,800 |               |  |  | 0            |  |  |        | 205,800 |  |               |  | 5,000                               |  |         | n/a   |  | Dicks Sporting Goods, Primark, Outback Steakhouse, Yard House                                                                         |  |  | 97.6  | %
|186                     |  | Lebanon             |  | PA    |  |                        | 50  | % |         |  | 117,200 |               |  |  | 117,200      |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                                                                                                                    |  |  | 100.0 | %
|187                     |  | Mount Pleasant      |  | PA    |  |                        | 50  | % |         |  | 83,500  |               |  |  | 83,500       |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                                                                                                                    |  |  | 100.0 | %
|188                     |  | Walnutport          |  | PA    |  |                        | 50  | % |         |  | 121,200 |               |  |  | 121,200      |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                                                                                                                    |  |  | 100.0 | %
|189                     |  | York                |  | PA    |  |                        | 50  | % |         |  | 82,000  |               |  |  | 82,000       |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                                                                                                                    |  |  | 100.0 | %
|190                     |  | Bayamon             |  | PR    |  |                        | 50  | % |         |  | 115,200 |               |  |  | 114,600      |  |  |        | 600     |  |               |  | 0                                   |  |         | Kmart |  | n/a                                                                                                                                    |  |  | 100.0 | %
|191                     |  | Caguas              |  | PR    |  |                        | 50  | % |         |  | 138,700 |               |  |  | 138,700      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                                                                                                                    |  |  | 100.0 | %
|192                     |  | Carolina            |  | PR    |  |                        | 50  | % |         |  | 198,000 |               |  |  | 198,000      |  |  |        | 0       |  |               |  | 0                                   |  |         | Sears |  | n/a                                                                                                                                    |  |  | 100.0 | %
|193                     |  | Guaynabo            |  | PR    |  |                        | 50  | % |         |  | 217,300 |               |  |  | 115,700      |  |  |        | 89,500  |  |               |  | 12,100                              |  |         | Kmart |  | Baskin Robbins, Firstbank, Gamestop, McDonalds, Ocean Garden Buffet, Payless ShoeSource, Rent-a-Center, Sally Beauty Supply,
T-Mobile |  |  | 94.4  | %
|194                     |  | Mayaguez            |  | PR    |  |                        | 50  | % |         |  | 118,200 |               |  |  | 118,200      |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                                                                                                                    |  |  | 100.0 | %
|195                     |  | Ponce               |  | PR    |  |                        | 50  | % |         |  | 126,900 |               |  |  | 126,900      |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                                                                                                                    |  |  | 100.0 | %
|196                     |  | Warwick             |  | RI    |  |                        | 50  | % |         |  | 246,000 |               |  |  | 216,900      |  |  |        | 29,100  |  |               |  | 0                                   |  |         | Sears |  | Chuck E Cheese, Lands End, On The Border, Wendys                                                                                     |  |  | 100.0 | %
|197                     |  | Anderson            |  | SC    |  |                        | 50  | % |         |  | 118,700 |               |  |  | 118,700      |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                                                                                                                    |  |  | 100.0 | %
|198                     |  | Charleston          |  | SC    |  |                        | 50  | % |         |  | 138,800 |               |  |  | 132,000      |  |  |        | 6,800   |  |               |  | 0                                   |  |         | Sears |  | Carrabbas Italian Grill                                                                                                               |  |  | 100.0 | %
|199                     |  | Rock Hill           |  | SC    |  |                        | 50  | % |         |  | 89,300  |               |  |  | 89,300       |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                                                                                                                    |  |  | 100.0 | %
|200                     |  | Sioux Falls         |  | SD    |  |                        | 50  | % |         |  | 72,500  |               |  |  | 72,500       |  |  |        | 0       |  |               |  | 0                                   |  |         | Kmart |  | n/a                                                                                                                                    |  |  | 100.0 | %
|201                     |  | Cordova             |  | TN    |  |                        | 50  | % |         |  | 160,900 |               |  |  | 156,100      |  |  |        | 4,800   |  |               |  | 0                                   |  |         | Sears |  | Lands End                                                                                                                             |  |  | 100.0 | %
|202                     |  | Memphis (4)         |  | TN    |  |                        | 100 | % |         |  | 202,400 |               |  |  | 158,500      |  |  |        | 43,900  |  |               |  | 0                                   |  |         | Sears |  | Lands End, Nordstrom Rack                                                                                                             |  |  | 100.0 | %



---

|                        |  |                                 |  |       |  |                        |     |   |         |            |         |               |  |           |              |  |  |         |         |  |               |  |                                     |  |         |       |   |                                                  |  |  |       |  
|----------------------- |  | ------------------------------- |  | ----- |  | ---------------------- | --- | - | ------- | ---------- | ------- | ------------- |  | --------- | ------------ |  |  | ------- | ------- |  | ------------- |  | ----------------------------------- |  | ------- | ----- | - | ------------------------------------------------ |  |  | ----- | -
|Wholly Owned Properties | 
|                        |  |                                 |  |       |  |                        |     |   | GLA (3) |            |         |               |  |           |              |  | 
|                        |  | City                            |  | State |  | RecaptureRights (1)(2) |     |   | Total   |            |         | SearsHoldings |  |           | ThirdParties |  |  | Vacant  |         |  | Sears orKmart |  | Significant Third-party Tenants (3) |  | %Leased |      
|203                     |  | Austin                          |  | TX    |  |                        | 50  | % |         |            | 172,000 |               |  |           | 172,000      |  |  |         | 0       |  |               |  | 0                                   |  |         | Sears |   | n/a                                              |  |  | 100.0 | %
|204                     |  | Dallas                          |  | TX    |  |                        | 50  | % |         |            | 205,300 |               |  |           | 205,300      |  |  |         | 0       |  |               |  | 0                                   |  |         | Sears |   | n/a                                              |  |  | 100.0 | %
|205                     |  | El Paso                         |  | TX    |  |                        | 50  | % |         |            | 112,100 |               |  |           | 103,700      |  |  |         | 8,400   |  |               |  | 0                                   |  |         | Kmart |   | n/a                                              |  |  | 100.0 | %
|206                     |  | Friendswood                     |  | TX    |  |                        | 50  | % |         |            | 166,000 |               |  |           | 166,000      |  |  |         | 0       |  |               |  | 0                                   |  |         | Sears |   | n/a                                              |  |  | 100.0 | %
|207                     |  | Harlingen                       |  | TX    |  |                        | 50  | % |         |            | 91,700  |               |  |           | 91,700       |  |  |         | 0       |  |               |  | 0                                   |  |         | Kmart |   | n/a                                              |  |  | 100.0 | %
|208                     |  | Houston                         |  | TX    |  |                        | 50  | % |         |            | 218,600 |               |  |           | 209,500      |  |  |         | 9,100   |  |               |  | 0                                   |  |         | Sears |   | Lands End, Torchys Tacos                       |  |  | 100.0 | %
|209                     |  | Houston                         |  | TX    |  |                        | n/a |   |         |            | 134,000 |               |  |           | 0            |  |  |         | 134,000 |  |               |  | 0                                   |  |         | n/a   |   | At Home                                          |  |  | 100.0 | %
|210                     |  | Ingram                          |  | TX    |  |                        | 50  | % |         |            | 168,400 |               |  |           | 168,400      |  |  |         | 0       |  |               |  | 0                                   |  |         | Sears |   | n/a                                              |  |  | 100.0 | %
|211                     |  | Irving                          |  | TX    |  |                        | 50  | % |         |            | 170,900 |               |  |           | 79,500       |  |  |         | 91,400  |  |               |  | 0                                   |  |         | Sears |   | Pollo Tropical, Taco Cabana, Winco               |  |  | 100.0 | %
|212                     |  | San Antonio (6)                 |  | TX    |  |                        | 50  | % |         |            | 221,900 |               |  |           | 210,500      |  |  |         | 11,400  |  |               |  | 0                                   |  |         | Sears |   | Long Horn Steakhouse, Orvis                      |  |  | 100.0 | %
|213                     |  | Shepherd                        |  | TX    |  |                        | 50  | % |         |            | 201,700 |               |  |           | 201,700      |  |  |         | 0       |  |               |  | 0                                   |  |         | Sears |   | n/a                                              |  |  | 100.0 | %
|214                     |  | Valley View                     |  | TX    |  |                        | 100 | % |         |            | 235,000 |               |  |           | 229,200      |  |  |         | 5,800   |  |               |  | 0                                   |  |         | Sears |   | Jared Galleria of Jewelry                        |  |  | 100.0 | %
|215                     |  | Westwood                        |  | TX    |  |                        | 50  | % |         |            | 215,000 |               |  |           | 215,000      |  |  |         | 0       |  |               |  | 0                                   |  |         | Sears |   | n/a                                              |  |  | 100.0 | %
|216                     |  | Layton                          |  | UT    |  |                        | 50  | % |         |            | 166,800 |               |  |           | 90,000       |  |  |         | 11,000  |  |               |  | 65,800                              |  |         | Kmart |   | Arbys                                           |  |  | 60.6  | %
|217                     |  | West Jordan                     |  | UT    |  |                        | 50  | % |         |            | 205,400 |               |  |           | 201,100      |  |  |         | 4,300   |  |               |  | 0                                   |  |         | Sears |   | Lands End                                       |  |  | 100.0 | %
|218                     |  | Alexandria                      |  | VA    |  |                        | 50  | % |         |            | 262,100 |               |  |           | 252,500      |  |  |         | 9,600   |  |               |  | 0                                   |  |         | Sears |   | Lands End                                       |  |  | 100.0 | %
|219                     |  | Chesapeake                      |  | VA    |  |                        | 50  | % |         |            | 169,400 |               |  |           | 169,400      |  |  |         | 0       |  |               |  | 0                                   |  |         | Sears |   | n/a                                              |  |  | 100.0 | %
|220                     |  | Fairfax                         |  | VA    |  |                        | 50  | % |         |            | 225,800 |               |  |           | 214,100      |  |  |         | 11,700  |  |               |  | 0                                   |  |         | Sears |   | Lands End                                       |  |  | 100.0 | %
|221                     |  | Hampton                         |  | VA    |  |                        | 50  | % |         |            | 245,000 |               |  |           | 245,000      |  |  |         | 0       |  |               |  | 0                                   |  |         | Sears |   | n/a                                              |  |  | 100.0 | %
|222                     |  | Virginia Beach                  |  | VA    |  |                        | 50  | % |         |            | 200,400 |               |  |           | 86,900       |  |  |         | 113,500 |  |               |  | 0                                   |  |         | Sears |   | BB&T, DSW, The Fresh Market, Nordstrom Rack, REI |  |  | 100.0 | %
|223                     |  | Warrenton                       |  | VA    |  |                        | 50  | % |         |            | 121,000 |               |  |           | 113,900      |  |  |         | 7,100   |  |               |  | 0                                   |  |         | Sears |   | Lands End                                       |  |  | 100.0 | %
|224                     |  | Redmond                         |  | WA    |  |                        | 50  | % |         |            | 274,900 |               |  |           | 255,900      |  |  |         | 19,000  |  |               |  | 0                                   |  |         | Sears |   | Lands End, Red Robin, Sprint                    |  |  | 100.0 | %
|225                     |  | Vancouver                       |  | WA    |  |                        | 50  | % |         |            | 129,700 |               |  |           | 124,900      |  |  |         | 4,800   |  |               |  | 0                                   |  |         | Sears |   | Lands End                                       |  |  | 100.0 | %
|226                     |  | Yakima                          |  | WA    |  |                        | 50  | % |         |            | 117,300 |               |  |           | 97,300       |  |  |         | 0       |  |               |  | 20,000                              |  |         | Kmart |   | Vacant                                           |  |  | 82.9  | %
|227                     |  | Greendale                       |  | WI    |  |                        | 50  | % |         |            | 238,400 |               |  |           | 238,400      |  |  |         | 0       |  |               |  | 0                                   |  |         | Sears |   | n/a                                              |  |  | 100.0 | %
|228                     |  | Madison                         |  | WI    |  |                        | 50  | % |         |            | 138,300 |               |  |           | 130,200      |  |  |         | 8,100   |  |               |  | 0                                   |  |         | Sears |   | Lands End                                       |  |  | 100.0 | %
|229                     |  | Platteville                     |  | WI    |  |                        | 50  | % |         |            | 94,800  |               |  |           | 94,800       |  |  |         | 0       |  |               |  | 0                                   |  |         | Kmart |   | n/a                                              |  |  | 100.0 | %
|230                     |  | Charleston                      |  | WV    |  |                        | 50  | % |         |            | 105,600 |               |  |           | 105,600      |  |  |         | 0       |  |               |  | 0                                   |  |         | Kmart |   | n/a                                              |  |  | 100.0 | %
|231                     |  | Elkins                          |  | WV    |  |                        | 50  | % |         |            | 99,600  |               |  |           | 94,900       |  |  |         | 0       |  |               |  | 4,700                               |  |         | Kmart |   | Vacant                                           |  |  | 95.3  | %
|232                     |  | Scott Depot                     |  | WV    |  |                        | 50  | % |         |            | 89,800  |               |  |           | 89,800       |  |  |         | 0       |  |               |  | 0                                   |  |         | Kmart |   | n/a                                              |  |  | 100.0 | %
|233                     |  | Casper                          |  | WY    |  |                        | 50  | % |         |            | 91,400  |               |  |           | 91,300       |  |  |         | 100     |  |               |  | 0                                   |  |         | Kmart |   | n/a                                              |  |  | 100.0 | %
|234                     |  | Gillette                        |  | WY    |  |                        | 50  | % |         |            | 94,600  |               |  |           | 94,600       |  |  |         | 0       |  |               |  | 0                                   |  |         | Kmart |   | n/a                                              |  |  | 100.0 | %
|235                     |  | Riverton                        |  | WY    |  |                        | 50  | % |         |            | 94,800  |               |  |           | 94,800       |  |  |         | 0       |  |               |  | 0                                   |  |         | Kmart |   | n/a                                              |  |  | 100.0 | %
|                        |  |                                 |  |       |  |                        |     |   |         |            |         |               |  |           |              |  |  |         |         |  |               |  |                                     |  |         |       |   |                                                  |  |  |       |  
|                        |  | Total - Wholly Owned Properties |  |       |  | 37,018,600             |     |   |         | 33,416,200 |         |               |  | 3,383,100 |              |  |  | 219,300 |         |  |               |  |                                     |  |         | 99.4  | %
|                        |  |                                 |  |       |  |                        |     |   |         |            |         |               |  |           |              |  |  |         |         |  |               |  |                                     |  |         |       |   |                                                  |  |  |       |  



|(1) | Properties with 50% recapture rights are subject to the Companys right to recapture approximately 50% of the space within a store (subject to certain exceptions). In addition, the Company has the right to
recapture any automotive care centers which are free-standing or attached as appendages to the stores and all outparcels or outlots, as well as certain portions of parking areas and common areas. These properties were referred to as
Type II properties in the Companys Form S-11 dated June 8, 2015.
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



---

|(2) | In addition to the 50% recapture rights described above, properties with 100% recapture rights are subject to the Companys right to recapture the entire space within a store for a specified fee. These properties
were referred to as Type I properties in the Companys Form S-11 dated June 8, 2015.
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(3) | Based on signed leases as of December 31, 2015, including SNO leases.
|--- | ---------------------------------------------------------------------

|(4) | The Company exercised its recapture rights for this property during the period from July 7, 2015 (Date Operations Commenced) through December 31, 2015.
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------

|(5) | Property is subject to a ground lease.
|--- | --------------------------------------

|(6) | The Company submitted a recapture notice for this property subsequent to December 31, 2015.
|--- | -------------------------------------------------------------------------------------------



|              |  |                       |  |       |  |                     |    |   |           |  |         |               |           |  |              |  |         |        |         |  |               |  |                         |  |         |       |  |                                         |       |   |       |  
|------------- |  | --------------------- |  | ----- |  | ------------------- | -- | - | --------- |  | ------- | ------------- | --------- |  | ------------ |  | ------- | ------ | ------- |  | ------------- |  | ----------------------- |  | ------- | ----- |  | --------------------------------------- | ----- | - | ----- | -
|JV Properties | 
|              |  |                       |  |       |  |                     |    |   | GLA (2)   |  |         |               |           |  |              |  |        
|              |  | City                  |  | State |  | RecaptureRights (1) |    |   | Total     |  |         | SearsHoldings |           |  | ThirdParties |  |         | Vacant |         |  | Sears orKmart |  | Third-party Tenants (2) |  | %Leased |      
|1             |  | Chandler              |  | AZ    |  |                     | 50 | % |           |  | 141,600 |               |           |  | 141,600      |  |         |        | 0       |  |               |  | 0                       |  |         | Sears |  | n/a                                     |       |   | 100.0 | %
|2             |  | Glendale              |  | AZ    |  |                     | 50 | % |           |  | 125,000 |               |           |  | 125,000      |  |         |        | 0       |  |               |  | 0                       |  |         | Sears |  | n/a                                     |       |   | 100.0 | %
|3             |  | Bakersfield (3)       |  | CA    |  |                     | 50 | % |           |  | 204,200 |               |           |  | 204,200      |  |         |        | 0       |  |               |  | 0                       |  |         | Sears |  | n/a                                     |       |   | 100.0 | %
|4             |  | Brea                  |  | CA    |  |                     | 50 | % |           |  | 168,200 |               |           |  | 163,800      |  |         |        | 4,400   |  |               |  | 0                       |  |         | Sears |  | Lands End                              |       |   | 100.0 | %
|5             |  | Cerritos              |  | CA    |  |                     | 50 | % |           |  | 277,600 |               |           |  | 277,600      |  |         |        | 0       |  |               |  | 0                       |  |         | Sears |  | n/a                                     |       |   | 100.0 | %
|6             |  | Modesto               |  | CA    |  |                     | 50 | % |           |  | 148,600 |               |           |  | 148,600      |  |         |        | 0       |  |               |  | 0                       |  |         | Sears |  | n/a                                     |       |   | 100.0 | %
|7             |  | Santa Rosa            |  | CA    |  |                     | 50 | % |           |  | 165,400 |               |           |  | 161,600      |  |         |        | 3,800   |  |               |  | 0                       |  |         | Sears |  | Lands End                              |       |   | 100.0 | %
|8             |  | Danbury               |  | CT    |  |                     | 50 | % |           |  | 178,400 |               |           |  | 108,400      |  |         |        | 70,000  |  |               |  | 0                       |  |         | Sears |  | Primark                                 |       |   | 100.0 | %
|9             |  | Pembroke Pines (3)(4) |  | FL    |  |                     | 50 | % |           |  | 144,200 |               |           |  | 144,200      |  |         |        | 0       |  |               |  | 0                       |  |         | Sears |  | n/a                                     |       |   | 100.0 | %
|10            |  | Oak Brook             |  | IL    |  |                     | 50 | % |           |  | 314,000 |               |           |  | 219,600      |  |         |        | 94,400  |  |               |  | 0                       |  |         | Sears |  | Lands End, Pinstripes, Williams-Sonoma |       |   | 100.0 | %
|11            |  | Burlington            |  | MA    |  |                     | 50 | % |           |  | 271,200 |               |           |  | 184,800      |  |         |        | 86,400  |  |               |  | 0                       |  |         | Sears |  | Lands End, Primark                     |       |   | 100.0 | %
|12            |  | Natick (4)            |  | MA    |  |                     | 50 | % |           |  | 190,600 |               |           |  | 176,200      |  |         |        | 14,400  |  |               |  | 0                       |  |         | Sears |  | Lands End                              |       |   | 100.0 | %
|13            |  | Columbia              |  | MD    |  |                     | 50 | % |           |  | 149,000 |               |           |  | 142,000      |  |         |        | 7,000   |  |               |  | 0                       |  |         | Sears |  | Lands End                              |       |   | 100.0 | %
|14            |  | Ann Arbor             |  | MI    |  |                     | 50 | % |           |  | 170,600 |               |           |  | 156,400      |  |         |        | 14,200  |  |               |  | 0                       |  |         | Sears |  | Lands End                              |       |   | 100.0 | %
|15            |  | Minnetonka            |  | MN    |  |                     | 50 | % |           |  | 205,000 |               |           |  | 199,200      |  |         |        | 5,800   |  |               |  | 0                       |  |         | Sears |  | Lands End                              |       |   | 100.0 | %
|16            |  | Deptford              |  | NJ    |  |                     | 50 | % |           |  | 191,800 |               |           |  | 183,800      |  |         |        | 8,000   |  |               |  | 0                       |  |         | Sears |  | Lands End                              |       |   | 100.0 | %
|17            |  | Freehold              |  | NJ    |  |                     | 50 | % |           |  | 139,400 |               |           |  | 72,200       |  |         |        | 67,200  |  |               |  | 0                       |  |         | Sears |  | Primark                                 |       |   | 100.0 | %
|18            |  | Paramus               |  | NJ    |  |                     | 50 | % |           |  | 192,400 |               |           |  | 177,200      |  |         |        | 15,200  |  |               |  | 0                       |  |         | Sears |  | Lands End                              |       |   | 100.0 | %
|19            |  | Toms River            |  | NJ    |  |                     | 50 | % |           |  | 109,200 |               |           |  | 109,200      |  |         |        | 0       |  |               |  | 0                       |  |         | Sears |  | n/a                                     |       |   | 100.0 | %
|20            |  | Albuquerque (5)       |  | NM    |  |                     | 50 | % |           |  | 166,600 |               |           |  | 157,600      |  |         |        | 9,000   |  |               |  | 0                       |  |         | Sears |  | n/a                                     |       |   | 100.0 | %
|21            |  | Nanuet                |  | NY    |  |                     | 50 | % |           |  | 221,400 |               |           |  | 213,800      |  |         |        | 7,600   |  |               |  | 0                       |  |         | Sears |  | Lands End                              |       |   | 100.0 | %
|22            |  | Staten Island (5)     |  | NY    |  |                     | 50 | % |           |  | 188,800 |               |           |  | 82,800       |  |         |        | 106,000 |  |               |  | 0                       |  |         | Sears |  | Lands End, Primark                     |       |   | 100.0 | %
|23            |  | Norman (4)            |  | OK    |  |                     | 50 | % |           |  | 66,800  |               |           |  | 66,800       |  |         |        | 0       |  |               |  | 0                       |  |         | Sears |  | n/a                                     |       |   | 100.0 | %
|24            |  | Tulsa                 |  | OK    |  |                     | 50 | % |           |  | 150,200 |               |           |  | 150,200      |  |         |        | 0       |  |               |  | 0                       |  |         | Sears |  | n/a                                     |       |   | 100.0 | %
|25            |  | Portland              |  | OR    |  |                     | 50 | % |           |  | 220,000 |               |           |  | 205,800      |  |         |        | 14,200  |  |               |  | 0                       |  |         | Sears |  | Lands End                              |       |   | 100.0 | %
|26            |  | Pittsburgh            |  | PA    |  |                     | 50 | % |           |  | 176,600 |               |           |  | 159,600      |  |         |        | 17,000  |  |               |  | 0                       |  |         | Sears |  | Lands End                              |       |   | 100.0 | %
|27            |  | Austin                |  | TX    |  |                     | 50 | % |           |  | 164,600 |               |           |  | 164,600      |  |         |        | 0       |  |               |  | 0                       |  |         | Sears |  | n/a                                     |       |   | 100.0 | %
|28            |  | Frisco                |  | TX    |  |                     | 50 | % |           |  | 163,000 |               |           |  | 163,000      |  |         |        | 0       |  |               |  | 0                       |  |         | Sears |  | n/a                                     |       |   | 100.0 | %
|29            |  | Lubbock               |  | TX    |  |                     | 50 | % |           |  | 150,600 |               |           |  | 150,600      |  |         |        | 0       |  |               |  | 0                       |  |         | Sears |  | n/a                                     |       |   | 100.0 | %
|30            |  | Midland               |  | TX    |  |                     | 50 | % |           |  | 116,600 |               |           |  | 116,600      |  |         |        | 0       |  |               |  | 0                       |  |         | Sears |  | n/a                                     |       |   | 100.0 | %
|31            |  | Lynnwood              |  | WA    |  |                     | 50 | % |           |  | 177,600 |               |           |  | 170,600      |  |         |        | 7,000   |  |               |  | 0                       |  |         | Sears |  | Lands End                              |       |   | 100.0 | %
|              |  |                       |  |       |  |                     |    |   |           |  |         |               |           |  |              |  |         |        |         |  |               |  |                         |  |         |       |  |                                         |       |   |       |  
|              |  | Total - JV Properties |  |       |  |                     |    |   | 5,449,200 |  |         |               | 4,897,600 |  |              |  | 551,600 |        |         |  | 0             |  |                         |  |         |       |  |                                         | 100.0 | %
|              |  |                       |  |       |  |                     |    |   |           |  |         |               |           |  |              |  |         |        |         |  |               |  |                         |  |         |       |  |                                         |       |   |       |  



---

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |  |                                         |  |  |            |  |  |  |            |  |  |  |           |  |  |  |         |  |  |  |  |  |  |  |      |   |  |  |  | 
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | --------------------------------------- |  |  | ---------- |  |  |  | ---------- |  |  |  | --------- |  |  |  | ------- |  |  |  |  |  |  |  | ---- | - |  |  |  | 
|(1)   Properties with 50% recapture rights are subject to the JVs right to recapture approximately
50% of the space within a store (subject to certain exceptions). In addition, the JV has the right to recapture any automotive care centers which are free-standing or attached as appendages to the stores and all outparcels or outlots, as
well as certain portions of parking areas and common areas. (2)   Based on signed leases as of
December 31, 2015, including SNO leases. (3)   The JV submitted a recapture notice for this property
subsequent to December 31, 2015. (4)   Property is subject to a lease or ground lease agreement.
(5)   The JV submitted a recapture notice for this property during the period from July 7, 2015 (Date
Operations Commenced) through December 31, 2015. | 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |  |                                         |  |  |            |  |  |  |            |  |  |  |           |  |  |  |         |  |  |  |  |  |  |  |      |   |  |  |  | 
|266                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |  | Grand Total - All Properties            |  |  | 42,467,800 |  |  |  | 38,313,800 |  |  |  | 3,934,700 |  |  |  | 219,300 |  |  |  |  |  |  |  | 99.5 | %
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |  |                                         |  |  |            |  |  |  |            |  |  |  |           |  |  |  |         |  |  |  |  |  |  |  |      |   |  |  |  | 
|266                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |  | Grand Total - All Properties (at share) |  |  | 39,743,200 |  |  |  | 35,865,000 |  |  |  | 3,658,900 |  |  |  | 219,300 |  |  |  |  |  |  |  | 99.4 | %
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |  |                                         |  |  |            |  |  |  |            |  |  |  |           |  |  |  |         |  |  |  |  |  |  |  |      |   |  |  |  | 



---

PART IV



|ITEM 15. | EXHIBITS AND FINANCIAL STATEMENT SCHEDULE
|-------- | -----------------------------------------



|(b) | Exhibits.
|--- | ---------



|           |  |                                                                                                       
|---------- |  | ------------------------------------------------------------------------------------------------------
|ExhibitNo. |  | Description                                                                                           
|           | 
|31.1       |  | Certification of the Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|           | 
|31.2       |  | Certification of the Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002



---

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.



|       |  |                |  |  |  |  |  |                           
|------ |  | -------------- |  |  |  |  |  | --------------------------
|       |  |                |  |  |  |  |  | SERITAGE GROWTH PROPERTIES
|       |  |                |  | 
|Dated: |  | March 23, 2016 |  |  |  |  |  | /s/ Benjamin Schall