Shopping Center Social Media Benchmark Report Q3 2011

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Shopping Center Social Media Q3 2011 Shopping Center Social Media Overview The Q3 2011 benchmark report compares data from 1,643 centers 300,000 square feet or larger across the United States including Alaska, Puerto Rico and Hawaii.
Center Type (300,000 square feet or larger) Super Regional Centers Regional Centers Lifestyle Centers Entertainment Centers Value Centers Total Industry Number of Centers Studied Q3 2011 429 754 361 16 83 1,643

Currently 63% of shopping centers are using Facebook and 54% are using Twitter to reach their shoppers. When Alexander Babbage started reporting on shopping center social media trends in Q2 2010, fewer than half of U.S. shopping centers 300,000 square feet or larger were using social media. Some of the largest increases in the number of shopping centers on Facebook and Twitter were seen between Q1 and Q3 2010, where the number of centers using Facebook soared by 79% and the number of centers using Twitter jumped by 54%. Social media use in the shopping center industry has continued its upward trend since then.

Percent of Centers Using Facebook and Twitter
70.0% 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% 0.0%

63.2% 53.9%

Facebook Twitter

Q1'10

Q2'10

Q3'10

Q4'10

Q1'11

Q2'11

Q3'11

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Shopping Center Social Media Q3 2011 Findings While it is apparent that the growth rate of the number of centers using Facebook and Twitter has slowed since Q3 2010, we have seen fairly steady growth during the past year. Since Q3 2010, an average of 48 centers have joined Facebook and 50 centers have joined Twitter each quarter.

Shopping Center Facebook and Twitter Use Quarter-to-Quarter Growth
70.0%

60.0%

50.0%

40.0%

39.3%

30.0%

28.5% 25.5% 22.6%

27.8% 21.0%

20.0% 12.4% 10.0% 6.6% 3.8% 7.4% 3.3% 1.9% 5.2% 4.7%

0.0%

Q1'10 to Q2'10

Q2'10 to Q3'10

Q3'10 to Q4'10

Q4'10 to Q1'11

Q1'11 to Q2'11

Q2'11 to Q3'11

Q3'10 to Q3'11

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Shopping Center Social Media Q3 2011

Percent of Centers on Facebook by Center Type
90.0% 80.0% 70.0% 60.0% 50.0% Regional 40.0% 30.0% 20.0% 10.0% 0.0% Lifestyle Entertainment Value Total Industry Super Regional

Q1'10

Q2'10

Q3'10

Q4'10

Q1'11

Q2'11

Q3'11

Center Type Total Industry Super Regional Regional Lifestyle Entertainment Value

Q1'10 Percent with Facebook 29.2% 36.1% 24.0% 31.4% 43.8% 28.0%

Q2'10 Percent with Facebook 37.5% 45.8% 32.5% 38.7% 50.0% 32.9%

Q3'10 Percent with Facebook 52.3% 69.8% 47.3% 45.4% 56.3% 35.4%

Q4'10 Percent with Facebook 54.2% 71.7% 48.9% 48.7% 56.3% 35.4%

Q1'11 Percent with Facebook 56.0% 73.7% 50.4% 51.8% 56.3% 34.9%

Q2'11 Percent with Facebook 60.1% 78.1% 54.2% 56.0% 68.8% 37.3%

Q3'11 Percent with Facebook 63.2% 81.8% 57.2% 58.4% 75.0% 41.0%

Growth Q2'11 to Q3'11 5.2% 4.8% 5.4% 4.5% 9.1% 9.7%

* See appendix for definitions of each center type.

Value and Entertainment centers experienced the greatest growth in centers on Facebook at 9.7% and 9.1% respectively, exceeding the industry growth of 5.2%. Super Regional remains the center type with the largest percentage of centers on Facebook, while less than half the industry’s Value centers are using the platform (41%).

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Shopping Center Social Media Q3 2011 Percent of Centers on Twitter by Center Type
90.0% 80.0% 70.0% 60.0% 50.0% Regional 40.0% 30.0% 20.0% 10.0% 0.0% Lifestyle Entertainment Value Total Industry Super Regional

Q1'10

Q2'10

Q3'10

Q4'10

Q1'11

Q2'11

Q3'11

Center Type Total Industry Super Regional Regional Lifestyle Entertainment Value

Q1'10 Percent with Twitter 27.4% 35.6% 20.8% 22.7% 37.5% 59.8%

Q2'10 Percent with Twitter 34.4% 43.4% 27.1% 31.4% 43.8% 64.6%

Q3'10 Percent with Twitter 42.1% 58.5% 33.6% 34.7% 43.8% 67.1%

Q4'10 Percent with Twitter 44.9% 61.8% 35.6% 36.1% 43.8% 80.5%

Q1'11 Percent with Twitter 45.8% 61.8% 36.5% 38.5% 43.8% 79.5%

Q2'11 Percent with Twitter 51.4% 68.1% 42.4% 43.5% 56.3% 80.7%

Q3'11 Percent with Twitter 53.9% 72.0% 43.9% 46.5% 56.3% 81.9%

Growth Q2'11 to Q3'11 4.8% 5.8% 3.4% 7.0% 0.0% 1.5%

* See appendix for definitions of each center type.

Value centers continue to separate themselves and stand out for having a significantly higher percentage of centers on Twitter (82%) compared to the industry average of 54%. As is the case with their Facebook use, the percentage of Lifestyle and Regional centers on Twitter has grown at a nearly identical pace. Since Q2 2011, Super Regional centers have experienced the most growth in the number of centers using Twitter.

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Shopping Center Social Media Q3 2011

The average number of Facebook “likes” is 4,315 per center

47.7% Q3'11 Q2'11 Q1'11

6,447

Super Regional Centers
2,076

Regional Centers
4,025

Q4'10 Q3'10 Q2'10 Q1'10
14,197

Lifestyle Centers

Entertainment Centers
8,867

Value Centers

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

Overall Average – 4,315

In Q1 2010, the average number of likes per shopping center was 1,244. Nearly a year and a half later, that number has increased significantly to 4,315 likes per center and is dispersed among nearly 600 additional shopping centers. Entertainment centers have continually lead the way and in Q3 2011, have an average of 14,197 likes – nearly 10,000 more likes than the industry average. Regional centers continue to have the lowest average number of likes at 2,076 per center. With 286,668 likes, the Super Regional center Mall of America has the highest number of Facebook likes among all 1,643 studied shopping centers.

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Shopping Center Social Media Q3 2011 The average number of Twitter followers is 558 per center
492

Q3'11 Q2'11 Q1'11

Super Regional Centers
259

Regional Centers
1,098

Q4'10 Q3'10 Q2'10 Q1'10
2,579

Lifestyle Centers

Entertainment Centers
713

Value Centers

0

2,000 4,000 Overall Average - 558

6,000

8,000

10,000

12,000

14,000

16,000

The average U.S. shopping center 300,000 square feet or larger has 558 followers on Twitter. Entertainment and Lifestyle centers surpass this with an average of 2,579 and 1,098 followers respectively. Not only do Regional centers have the lowest average number of Facebook likes, they also have the lowest average number of Twitter followers at 259 per center. The Lifestyle center The Cosmopolitan has the highest number of Twitter followers at 26,845.

© 2011 Alexander Babbage, Inc. All Rights Reserved www.alexanderbabbage.com

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Shopping Center Social Media Q3 2011

Developers Since Q3 2010, Glimcher Realty Trust had been the only developer with 20 or more centers that had 100% of its centers on Facebook and Twitter. As of Q3 2011, however, Westfield Corporation now has all of its 54 studied centers on Facebook and Macerich and General Growth Properties are close behind. CBL & Associates Properties experienced the greatest growth among developers with 20 or more centers from Q2 to Q3 2011, nearly doubling the number of centers on Twitter.

Social Media Use - Developers with 20+ Centers
Q2’11 Percent with Facebook 77.2% 92.6% 33.7% 90.7% 96.1% 32.7% 80.0% 77.4% 79.2% 100.0% 5.0% Q3’11 Percent with Facebook 77.3% 94.1% 47.0% 100.0% 96.1% 32.7% 84.8% 80.6% 82.6% 100.0% 5.0% Facebook Growth Q2'11 to Q3'11 0.1% 1.6% 39.4% 10.3% 0.0% 0.0% 6.0% 4.2% 4.3% 0.0% 0.0% Q2’11 Percent with Twitter 89.5% 92.6% 24.1% 53.7% 98.0% 30.6% 71.1% 58.1% 79.2% 100.0% 5.0% Q3’11 Percent with Twitter 90.8% 92.6% 43.4% 55.6% 96.1% 32.7% 73.9% 58.1% 82.6% 100.0% 5.0% Twitter Growth Q2'11 to Q3'11 1.4% 0.0% 80.0% 3.5% -2.0% 6.7% 4.0% 0.0% 4.3% 0.0% 0.0%

Developer Simon Property Group General Growth Properties CBL & Associates Properties Westfield Corporation Macerich DDR Jones Lang LaSalle Pennsylvania R/E Investment Trust Forest City Glimcher Realty Trust The Taubman Company

Base 238 187 83 54 51 49 46 31 23 23 20

* See appendix for a complete list of the top 25 developers based on the number of centers.
Note the data for Simon Property Group was aggregated by Simon Property Group (Chelsea), Kravco Simon and Simon Property Group, Inc. CBL & Associates Properties was aggregated by CBL RM - Waco LLC and CBL & Associates Properties, Inc. and Forest City was aggregated by Forest City Commercial Management, Forest City Enterprises, Forest City Management, and Forest City Ratner Companies.

© 2011 Alexander Babbage, Inc. All Rights Reserved www.alexanderbabbage.com

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Shopping Center Social Media Q3 2011

Facebook Top 20
Q2 2011 Rank 1 2 3 4 5 6 7 11 12 20 13 10 8 9 14 15 18 17 16 Q3 2011 Rank 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Q3’11 # of Facebook Likes 286,668 195,713 65,760 56,538 54,168 53,651 44,772 30,865 30,812 30,439 30,040 27,355 27,355 27,072 26,747 24,216 24,077 22,493 22,131 21,454

Center Name Mall of America Plaza Las Americas King of Prussia Mall Westfield Garden State Plaza The Galleria The Cosmopolitan Westfield Valley Fair Seminole Paradise Aventura Mall The Grove Broadway at the Beach The Wharf Universal CityWalk Zona Rosa Asbury Park Opry Mills Crocker Park Palisades Center Pier Park Town Square Las Vegas

Location Bloomington, MN San Juan, PR King of Prussia, PA Paramus, NJ Houston, TX Las Vegas, NV Santa Clara, CA Hollywood, FL Aventura, FL Los Angeles, CA Myrtle Beach, SC Orange Beach, AL Universal City, CA Kansas City, MO Asbury Park, NJ Nashville, TN Westlake, OH West Nyack, NY Panama City Beach, FL Las Vegas, NV

Square Feet 2,768,399 2,180,000 2,698,477 2,132,112 2,350,308 300,000 1,478,023 350,000 2,099,164 575,000 700,000 376,116 400,000 925,000 400,000 1,166,379 550,000 2,217,322 504,663 1,000,000

Developer Triple Five Corp. Plaza Las Americas, Inc. Kravco Simon Company Westfield Corporation Simon Property Group, Inc. 3700 Associates, LLC Westfield Corporation The Cordish Company Turnberry Associates Caruso Affiliated Burroughs & Chapin Co Inc AIG Baker S/C Properties LLC Universal CityWalk Steiner & Associates Madison Marquette Simon Property Group, Inc. Stark Enterprises, Inc. Palisades Center Simon Property Group, Inc. Forest City Enterprises

The top five centers with the greatest number of Facebook likes have held their rank for the second consecutive quarter. Universal CityWalk’s number of likes increased 134% since Q2, from 11,698 to 27,355 making it number 13 on our list of Top 20 centers based on Facebook likes. CityWalk also was the fastest growing center among the Top 20.

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Shopping Center Social Media Q3 2011 The fastest growing center based on Facebook likes among the Top 20 is Universal CityWalk
Q2'11 # of Facebook Likes 11,698 18,542 37,815 34,752 23,366 24,216 Q3'11 # of Facebook Likes 27,355 30,439 53,651 44,772 30,040 30,812 Growth Q2'11 to Q3'11 133.8% 64.2% 41.9% 28.8% 28.6% 27.2%

Center Name Universal CityWalk The Grove The Cosmopolitan Westfield Valley Fair Broadway at the Beach Aventura Mall

Location Universal City, CA Los Angeles, CA Las Vegas, NV Santa Clara, CA Myrtle Beach, SC Aventura, FL

Center Type EC LC LC SR EC SR

Square Feet 400,000 575,000 300,000 1,478,023 700,000 2,099,164

Developer Universal CityWalk Caruso Affiliated 3700 Associates, LLC Westfield Corporation Burroughs & Chapin Co Inc Turnberry Associates

Twitter Top 20
Q2 2011 Rank 1 2 3 4 7 5 6 8 10 9 13 12 11 14 16 15 17 20 18 19 Q3 2011 Rank 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Q3 # of Twitter Followers 26,845 19,416 10,488 7,535 7,325 7,314 6,409 4,756 4,408 3,986 3,927 3,915 3,533 3,274 3,196 3,067 3,022 2,995 2,899 2,818

Center Name The Cosmopolitan The Grove Mall of America Ala Moana Center Universal CityWalk Dana Park Village Square Atlantic Station Pearlridge Center Patriot Place Frisco Square NorthPark Center The Galleria Winter Park Village Pacific Place The Americana at Brand The Shops at The Bravern Scottsdale Fashion Square Asbury Park Kierland Commons Easton Town Center

Location Las Vegas, NV Los Angeles, CA Bloomington, MN Honolulu, HI Universal City, CA Mesa, AZ Atlanta, GA Aiea, HI Foxborough, MA Frisco, TX Dallas, TX Houston, TX Winter Park, FL Seattle, WA Glendale, CA Bellevue, WA Scottsdale, AZ Asbury Park, NJ Scottsdale, AZ Columbus, OH

Square Feet 300,000 575,000 2,768,399 2,100,000 400,000 400,000 1,500,000 1,300,000 1,300,000 500,000 2,000,000 2,350,308 522,000 335,000 475,000 305,000 2,030,000 400,000 320,000 1,500,000

Developer 3700 Associates, LLC Caruso Affiliated Triple Five Corp. General Growth Properties, Inc. Universal CityWalk Triple Five AZ Development Corp. North American Properties Glimcher Realty Trust Strategic Retail Advisors Frisco Square Development NorthPark Management Company Simon Property Group, Inc. Casto Pine Street Group LLC Caruso Affiliated Schnitzer West, LLC Scottsdale Fashion Square Madison Marquette Westcor Steiner & Associates

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Shopping Center Social Media Q3 2011 Based on the number of followers, some of the Top 20 centers have moved in the rankings compared to last quarter, but no new centers were added to the Top 20 list in Q3 2011. With the exception of The Cosmopolitan and The Grove, the remaining 18 centers on the Top 20 list separate themselves by only a few followers. Dana Park Village Square is just 11 followers away from surpassing Universal CityWalk and taking over fifth place. Not only is Universal CityWalk the top growing center based on Facebook likes, but it is also the top growing center based on Twitter followers climbing from 4,932 in Q2 to 7,325 (an increase of 49%) and moving from seventh to fifth on our list of Top 20.

The fastest growing center based on the number of followers among the Top 20 is Universal CityWalk
Avg. Tweets Per Day 5.2 22.4 1.4 5.2 3.3 Q2 # of Twitter Followers 4,932 19,782 3,529 5,215 3,276 Q3 # of Twitter Followers 7,325 26,845 4,408 6,409 3,927 Growth Q2’11 to Q3’11 48.5% 35.7% 24.9% 22.9% 19.9%

Center Name Universal CityWalk The Cosmopolitan Patriot Place Atlantic Station NorthPark Center

Location Universal City, CA Las Vegas, NV Foxborough, MA Atlanta, GA Dallas, TX

Square Feet 400,000 300,000 1,300,000 1,500,000 2,000,000

Developer Universal CityWalk 3700 Associates, LLC Strategic Retail Advisors North American Properties NorthPark Management Company

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Shopping Center Social Media Q3 2011

Considering The Cosmopolitan has 26,845 followers on Twitter, it is not surprising that it tweets significantly more than any of the other Top 10 centers at 22.4 tweets per day.

Number of Followers Compared to Average Tweets Per Day - Top 10 Centers
30,000 30

Q3 Followers
25,000 20,000 15,000 10,000 5,000 The Cosmopolitan The Grove Mall of America Ala Moana Center Universal CityWalk

Avg tweets per day Q3
25 20 15

22.4

5.9

8.2 6.2 5.2 3.0
Dana Park Village Square Atlantic Station

11.0 5.2 1.4
Pearlridge Center

10

6.4

5 0

Patriot Place Frisco Square

Klout As we reported in the Q2 2011 Shopping Center Social Media Benchmark Report, Klout is a number on a 1-to-100 scale that measures influence based on ability to drive action1. It is a calculated number based on online activity that allows us to report on a center’s ability to interact with and influence those with whom they connect. Klout scores were collected for the Top 20 centers on Twitter. The list of Top 10 centers with the highest Klout scores demonstrates that having the most Facebook likes or Twitter followers does not mean anything unless you are effectively reaching, interacting with, and influencing them.

1

http://klout.com/corp/kscore © 2011 Alexander Babbage, Inc. All Rights Reserved www.alexanderbabbage.com 12

Shopping Center Social Media Q3 2011

Top 10 centers with the highest Klout scores (Among the Top 20 list of centers with the most Twitter followers)
Q3 '11 Rank 1 5 2 7 10 4 3 16 8 11 Square Feet 300,000 400,000 575,000 1,500,000 500,000 2,100,000 2,768,399 305,000 1,300,000 2,000,000 Q3’11 Twitter Followers 26,845 7,325 19,416 6,409 3,986 7,535 10,488 3,067 4,756 3,927 Avg. Tweets Per Day 22.4 5.2 5.9 5.2 6.4 6.2 8.2 5.0 11.0 3.3 Klout Score 65.5 61.8 59.5 58.2 58.1 57.9 56.5 51.5 50.1 49.3

Center Name The Cosmopolitan Universal CityWalk The Grove Atlantic Station Frisco Square Ala Moana Center Mall of America The Shops at The Bravern Pearlridge Center NorthPark Center

Location Las Vegas, NV Universal City, CA Los Angeles, CA Atlanta, GA Frisco, TX Honolulu, HI Bloomington, MN Bellevue, WA Aiea, HI Dallas, TX

Developer 3700 Associates, LLC Universal CityWalk Caruso Affiliated North American Properties Frisco Square Development General Growth Properties, Inc. Triple Five Corp. Schnitzer West, LLC Glimcher Realty Trust NorthPark Management Company

While Atlantic Station has the seventh highest number of Twitter followers (6,409) among the 1,643 tested centers, it has the fourth highest Klout score. Similarly, while Dana Park Village Square ranks sixth in the industry based on the number of Twitter followers, its Klout score is a relatively low 25.2.

What are other shopping centers doing? Many developers and shopping centers now have smartphone apps, giving shoppers a convenient way to find center deals, mall maps, parking, movie times, etc. In August, Westfield Malls released a new product search feature for an in-mall shopping app available on iPhone, Android and BlackBerry devices. The app allows users to browse the inventories of multiple retailers at each of the Westfield locations in the United States. The app allows users to search for a specific product and compare more than 100,000 products filtered by price, retailer and/or relevance. Similar features can be found on the Town Square Las Vegas app.

© 2011 Alexander Babbage, Inc. All Rights Reserved www.alexanderbabbage.com

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Shopping Center Social Media Q3 2011 Now Available - Social Media Strategies for Maximizing Sales in Holiday 2011* • Every shopping center has a social media strategy, but how effective will yours be this holiday season? o Do you know when to talk to your shoppers to get the best response? o Or what to say? How does your social media performance compare to shopping center industry benchmarks? How do your social media strategies integrate with and/or support the strategies of your center’s retailers?

• •

Alexander Babbage has created a new fee-based report that provides analytics well beyond “likes” and “followers” into the conversations people are having about shopping centers and what they are saying. Our in-depth study of the top 200 shopping centers measures how the conversations and the different communications channels have changed during the last two holiday seasons. Are blogs irrelevant? Should you be on Facebook, Twitter and Foursquare? What should you say and when should you use social media to maximize sales this holiday season? Social Media Footprint – Center Mentions The average shopping center increased its 60,000 Mall of America – 54,064 number of social media mentions (across all social media formats) from 514 in Q4 2009 to 50,000 1,805 in Q4 2010. For Q3 2011, the average Who? – 39,180 number of mentions stands at 2,514. How 40,000 does your center compare? The best in class – Mall of America – grew from 19,006 to 54,064 mentions during the same time period while one lifestyle center grew from 2,490 to 39,180 seizing the top spot for engagement immediately behind Mall of America. Is this your center? If not, which center is it and what can you learn from their strategies? Find out now in our comprehensive Social Media Strategies for Maximizing Sales in Holiday 2011 Report.
30,000 20,000 10,000 0 2009 Q4 mentions 2010 Q4 mentions
Average – 2,514 Bottom Performer – 207

2011 Q3 mentions

*For further information and to order a copy of the report for $250, contact Charlotte Sykes at 404-9617600 or email csykes@alexanderbabbage.com

© 2011 Alexander Babbage, Inc. All Rights Reserved www.alexanderbabbage.com

14

Shopping Center Social Media Q3 2011 Conclusion The number of centers on Facebook and Twitter is continuing to rise, with 63% of the industry now on Facebook and 54% using Twitter. This coupled with steady growth among likes and followers shows that developers and shopping centers are increasing their online footprint and utilizing social media more than ever to influence their shoppers. Using benchmarks to compare the number of shoppers reached is important, but it is even more important to quantify the impact of social media efforts in the online community and to properly and effectively use the online space to reach the maximum number of productive customers. When should you talk to your online shopper community? How often should you talk to them? Is your current social media strategy the most effective one? Alexander Babbage now offers a deeper look at your online presence with our new Social Media Strategies for Maximizing Sales paid report. And, in an effort to further enhance our benchmarks, the Q4 2011 report will expand to dig deeper into quantifying engagement on Facebook by measuring average number of posts, comments and likes per post to provide a center-specific comparison to the industry average and to best-in-class by shopping center type. Alexander Babbage continually monitors social media activity and consumer behaviors in the shopping center industry with benchmarks published each quarter. For more information about comparing your center or portfolio to benchmarks, contact: Alan McKeon at 404-961-7602 or amckeon@alexanderbabbage.com or Charlotte Sykes at 404-961-7603 or csykes@alexanderbabbage.com

Alexander Babbage, Inc., is an Atlanta based full-service research firm specializing in experiential research for destinations including shopping centers, professional sports teams, retailers, restaurants, the arts and financial institutions. It has the deepest experience and most extensive benchmark set among private research providers. Alexander Babbage acquired Stillerman Jones & Company in 2007 and MAXtrak® in 2004, making it the shopping center industry’s leading provider of market and shopper research.

The Social Media database compares 1,643 shopping centers 300,000+ square feet in the United States including Alaska, Hawaii and Puerto Rico. Data and counts are effective as of 9/30/2011.

© 2011 Alexander Babbage, Inc. All Rights Reserved www.alexanderbabbage.com

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Shopping Center Social Media Q3 2011 Definitions Center Type Super Regional Center – Similar to a Regional center, but because of its larger size, a Super Regional center has more anchors, a deeper selection of merchandise, and draws from a larger population base. As with Regional centers, the typical configuration is an enclosed mall, frequently with multi levels. Regional Center – This center type provides general merchandise (a large percentage of which is apparel) and services in full depth and variety. Its main attractions are its anchors: traditional, mass merchant, or discount department stores or fashion specialty stores. A typical Regional center is usually enclosed with an inward orientation of the stores connected by a common walkway and parking surrounds the outside perimeter. Lifestyle Center – Most often located near affluent residential neighborhoods, this center type caters to the retail needs and “lifestyle” pursuits of consumer in its trading area. It has an open-air configuration and typically includes retail space occupied by upscale national chain specialty stores. These center may or may not be anchored by one or more conventional or fashion specialty department stores. Value Center – A center that includes outlet tenants as well as superstores, catalog, retail clearing houses, off-price or discounters, and food vendors. Entertainment Center – A shopping center that encompasses theaters, restaurants and related retail. Social Media Terms Facebook – A publication for an organization, such as a school or business, which helps members identify each other; also, an online version of this, with profiles including a picture, name, birth date, interests, etc. Twitter – An information network made up of 140-character messages, typically sent as text messages. Tweet – A message posted via Twitter containing 140 characters or fewer. Follow – To follow someone on Twitter means to subscribe to their Tweets or updates on the site. Follower – A follower is another Twitter user who has followed you. Klout – A measure of online influence collected from social networks to score a user on a scale of 1 to 100. Klout automatically accesses input from Twitter and is capable of including other networks in the influence score once a user registers and gives Klout permission to connect with the other networks.
Dictionary of Shopping Center Terms, Third Edition Twitter Glossary Klout Website

© 2011 Alexander Babbage, Inc. All Rights Reserved www.alexanderbabbage.com

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Shopping Center Social Media Q3 2011 Appendix Top 25 Developers Based on Number of Centers Facebook and Twitter usage among each developers centers of 300,000 square feet or larger
Q2’11 % with Facebook 77.2% 92.6% 33.7% 90.7% 96.1% 32.7% 80.0% 77.4% 79.2% 100.0% 5.0% 5.9% 52.9% 23.5% 6.3% 100.0% 91.7% 75.0% 45.5% 27.3% 72.7% 11.1% 87.5% 12.5% 100.0% 57.1% 71.4% Q3’11 % with Facebook 77.3% 94.1% 47.0% 100.0% 96.1% 32.7% 84.8% 80.6% 82.6% 100.0% 5.0% 5.9% 58.8% 29.4% 6.3% 100.0% 91.7% 75.0% 45.5% 36.4% 72.7% 11.1% 87.5% 12.5% 100.0% 71.4% 85.7% Growth Q2-Q3 0.1% 1.6% 39.4% 10.3% 0.0% 0.0% 6.0% 4.2% 4.3% 0.0% 0.0% 0.0% 11.1% 25.0% 0.0% 0.0% 0.0% 0.0% 0.0% 33.3% 0.0% -0.1% 0.0% 0.0% 0.0% 25.0% 20.0% Q2’11 % with Twitter 89.5% 92.6% 24.1% 53.7% 98.0% 30.6% 71.1% 58.1% 79.2% 100.0% 5.0% 0.0% 23.5% 0.0% 0.0% 100.0% 91.7% 58.3% 36.4% 27.3% 9.1% 11.1% 75.0% 0.0% 62.5% 57.1% 57.1% Q3’11 % with Twitter 90.8% 92.6% 43.4% 55.6% 96.1% 32.7% 73.9% 58.1% 82.6% 100.0% 5.0% 0.0% 29.4% 0.0% 6.3% 100.0% 91.7% 58.3% 36.4% 36.4% 9.1% 11.1% 75.0% 0.0% 62.5% 71.4% 57.1% Growth Q2-Q3 1.4% 0.0% 80.0% 3.5% -2.0% 6.7% 4.0% 0.0% 4.3% 0.0% 0.0% 0.0% 25.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 33.3% 0.0% 0.0% 0.0% 0.0% 0.0% 25.0% 0.0%

Developer Simon Property Group General Growth Properties CBL & Associates Properties Westfield Corporation Macerich DDR Jones Lang LaSalle Pennsylvania R/E Investment Trust Forest City Glimcher Realty Trust The Taubman Company Kimco Realty Corporation Inland US Management LLC The Cafaro Company Vornado Realty Trust Tanger Factory Outlet Centers, Inc Westcor RED Development CB Richard Ellis Casto Centro Mid-America Real Estate Group Madison Marquette The Sembler Company The Pyramid Companies Poag & McEwen Lifestyle Ctrs, LLC Vestar Development

Base 238 187 83 54 51 49 46 31 23 23 20 17 17 17 16 17 12 12 11 11 11 9 8 8 9 7 6

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17

Shopping Center Social Media Q3 2011

Developer
Simon Property Group General Growth Properties CBL & Associates Properties Forest City

Aggregated by
Simon Property Group, Inc., Simon Property Group (Chelsea), Kravco Simon Company General Growth Properties, Inc., c/o Grand Teton Mall CBL & Associates Properties, Inc. , CBM RM-Waco LLC Forest City Enterprises, Forest City Commercial Management, Forest City Management, Forest City Ratner Companies Inland Southwest Management, Inland American Retail Mgmt LLC, Inland Commercial Property Mgmt, Inland Pacific Property Svcs LLC, Inland US Management LLC, Inland Continental Property Mgmt. RED Development , RED Asset Management, Inc. CB Richard Ellis, CBRE Louisville, CBRE/MEGA Vornado Realty Trust , Vornado/Charles E. Smith The Pyramid Companies, c/o Avitation Mall

Inland RED Development CB Richard Ellis Vornado Realty Trust The Pyramid Companies

Number
1 2 3 4 5 6 7 8 9

Region
Northeast Northeast South South South Midwest Midwest West West

Division
New England Mid Atlantic South Atlantic East South Central West South Central East North Central West North Central Mountain Pacific Division

States
Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, Vermont New Jersey, New York, Pennsylvania Delaware, District of Columbia, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, West Virginia Alabama, Kentucky, Mississippi, Tennessee Arkansas, Louisiana, Oklahoma, Texas Illinois, Indiana, Michigan, Ohio, Wisconsin Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah, Wyoming California, Oregon, Washington

© 2011 Alexander Babbage, Inc. All Rights Reserved www.alexanderbabbage.com

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Shopping Center Social Media Q3 2011

Facebook Use by Region
Q3’11 Average Facebook Likes 100.0%
90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% 26.1% 45.1% 43.7% 43.4% 61.9% 59.0% 53.2% 71.7%

3,864

3,792

5,437

3,775

Q3'10 Q3'11

ICSC Northeast Regions 1 and 2

ICSC South Regions 3, 4, and 5

ICSC Midwest Regions 6 and 7

ICSC West Regions 8 and 9

Twitter Use by Region
Q3’11 Average Twitter Followers 100.0%
90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% 36.5% 30.3% 33.9% 52.5% 51.6% 49.3% 50.7% 64.0%

332

431

645

742

Q3'10 Q3'11

ICSC Northeast Regions 1 and 2

ICSC South Regions 3, ICSC Midwest Regions ICSC West Regions 8 4, and 5 6 and 7 and 9

© 2011 Alexander Babbage, Inc. All Rights Reserved www.alexanderbabbage.com

19

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