Note 8 - Disposal of Operating Properties

3 Months Ended

Mar. 31, 2014

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

Note 8. Disposal of Operating Properties

During the three months ended March 31, 2014, the Company sold its Red Bank Commons operating property in Evansville, Indiana, its Ridge Plaza operating property in Oak Ridge, New Jersey, and its 50^th and 12^th operating property in Seattle, Washington for aggregate proceeds of $35.2 million for a net gain of $6.8 million.

The operating properties are included in the accompanying Statement of Operations as the three disposals did not represent a strategic shift that has or will have a major effect on the Company’s operations and financial results and, therefore, the three disposals that occurred in the first quarter of 2014 have been excluded from discontinued operations (see Note 2).

The relevant financial information attributable to each sold property is comprised of the following for the three months ended March 31, 2014 and 2013:

	Three Months Ended March 31,
	2014			2013
Operating income excluding depreciation and amortization		325			478
Depreciation and amortization		(181	)		(217	)
Interest expense		(165	)		(190	)
Total pretax income	$	(21	)	$	71