Curbline Properties Corp.
NYSE:CURB
Curbline Properties Corp.
Curbline Properties Corp. engages in the operation of convenience retail real estate properties. The company is headquartered in New York City, New York and currently employs 37 full-time employees. The company went IPO on 2024-09-26. The Company’s properties include Artesia Village, Paradise Village Plaza, Broadway Center, Red Mountain Corner, Chandler Center, Shops at Gilbert Crossroads, Deer Valley Plaza, Northsight Plaza, Shops at Power and Baseline, Shops at Lake Pleasant, Creekside Plaza, Creekside Shops, Crossroads Marketplace, La Fiesta Square, Lafayette Mercantile, Loma Alta Station, Shops on Summit, Nine Mile Corner, Parker Keystone, Parker Station, Shops at University Hills, Shops on Montview, Boca Station, Collection at Midtown Miami, Concourse Village, Estero Crossing, Shoppes at Addison Place, Shoppes of Boot Ranch, Shops at Boca Center, Sunrise Plaza, Southtown Center, Shops at the Grove, Alpha Soda Center, Barrett Corners, Parkwood Shops, and Plaza at Market Square.
Curbline Properties Corp. engages in the operation of convenience retail real estate properties. The company is headquartered in New York City, New York and currently employs 37 full-time employees. The company went IPO on 2024-09-26. The Company’s properties include Artesia Village, Paradise Village Plaza, Broadway Center, Red Mountain Corner, Chandler Center, Shops at Gilbert Crossroads, Deer Valley Plaza, Northsight Plaza, Shops at Power and Baseline, Shops at Lake Pleasant, Creekside Plaza, Creekside Shops, Crossroads Marketplace, La Fiesta Square, Lafayette Mercantile, Loma Alta Station, Shops on Summit, Nine Mile Corner, Parker Keystone, Parker Station, Shops at University Hills, Shops on Montview, Boca Station, Collection at Midtown Miami, Concourse Village, Estero Crossing, Shoppes at Addison Place, Shoppes of Boot Ranch, Shops at Boca Center, Sunrise Plaza, Southtown Center, Shops at the Grove, Alpha Soda Center, Barrett Corners, Parkwood Shops, and Plaza at Market Square.
Strong First Year: Curbline capped its first year as a public company with strong growth, acquiring nearly $800 million in assets and signing over 400,000 square feet in new leases and renewals.
Outperformance: Fourth quarter results were ahead of budget, driven by higher than forecasted NOI due to timely rent commencements, acquisition volume, and lease termination fees.
FFO Guidance Raised: 2026 FFO guidance of $1.17–$1.21 per share implies 12% year-over-year growth, which management says is among the highest in the REIT sector.
Capital Efficiency: Capital expenditures remained low at just under 7% of NOI for the full year, keeping Curbline among the most capital-efficient operators in the public REIT sector.
Acquisition Visibility: There is significant visibility for about half of the planned $700 million in 2026 acquisitions, with cap rates holding just above 6%.
Leasing Trends: New lease spreads averaged 20% for the year (and expected to remain strong), with renewal spreads just under 10%.
Balance Sheet Strength: Liquidity at year-end was $582 million, leverage below 20%, and the company maintains substantial flexibility for future investments.
Guidance Details: Same-property NOI growth for 2026 is guided at 3%, with a 60 basis point bad debt assumption.
