Concentrations

3 Months Ended

Mar. 31, 2012

Concentrations [Abstract]

Concentrations

11. CONCENTRATIONS

          As of March 31, 2012, two properties individually accounted for more than 10% of our consolidated total assets – Uptown Park in Houston, Texas, and MacArthur Park in Dallas, Texas, which accounted for 19% and 15% of total assets, respectively. Consistent with our strategy of investing in geographic areas that we know well, 19 of our properties are located in the Houston metropolitan area. These Houston properties represent 62.2% and 66.3% of our rental income for the three months ended March 31, 2012 and 2011, respectively. Houston is Texas' largest city and the fourth largest city in the United States.

          Following are the base revenues generated by our top tenants for the three months ended March 31, 2012 and 2011 (in thousands):

	2012		2011
Kroger	$	529	$	529
Landry's Seafood House(1)		318		257
CVS/pharmacy(2)		306		230
H-E-B(3)		277		106
Publix(4)		195		—
Hard Rock Café		124		124
TGI Friday's		113		113
The Container Store(5)		112		—
Champps Americana		106		106
Golden Corral		105		105
	$	2,185	$	1,570

(1)	In 2012, Landry's Seafood House purchased two companies with whom we had existing leases.
(2)	We obtained an additional CVS/Pharmacy anchor tenant with the Brookwood Village acquisition in May 2011.
(3)	H-E-B, a regional grocer, is the anchor tenant at The Market at Lake Houston, which was acquired in February 2011.
(4)	Publix, a regional supermarket, is the anchor tenant at Alpharetta Commons, which was acquired in July 2011.
(5)	Rent commenced on a new lease with The Container Store in Houston, Texas in November 2011.