Pan Pacific Retail Properties, Inc. is a self-administered and self-managed real estate investment trust (REIT). The Company's portfolio consists principally of community and neighborhood shopping centers predominantly located in five key Western United States markets. As of December 31, 2001, Pan Pacific owned a portfolio comprised of 108 shopping center properties, of which 105 are located in the Western United States, including 42 in Northern California, 15 in Southern California, 23 in Oregon, 13 in Nevada and 12 in Washington. The portfolio includes approximately 15.3 million square feet of retail space, which was 97.1% leased to a diverse mix of 2,370 tenants. On November 13, 2000, the Company acquired Western Properties Trust, a California real estate investment trust.