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Mortgages Payable Net (Detail) (USD $)
In Thousands, unless otherwise specified
1 Months Ended 3 Months Ended
Apr. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Debt Instrument [Line Items]      
Carrying Amount of Mortgage Notes   $ 332,160 $ 333,310
Less: premium   572 [1] 625 [1]
Mortgage notes payable, net   332,732 333,935
Maturity date   Jul. 19, 2016  
Westwood Village
     
Debt Instrument [Line Items]      
Carrying Amount of Mortgage Notes   50,000 [2] 50,000 [2]
Contractual Interest Rate   2.69% [2]  
Effective Interest Rate   2.69% [2]  
Monthly Payment   112 [2],[3]  
Maturity Date   2013 [2]  
Maturity date   May 01, 2020  
Five Forks Place
     
Debt Instrument [Line Items]      
Carrying Amount of Mortgage Notes   4,833 4,882
Contractual Interest Rate   5.50%  
Effective Interest Rate   5.50%  
Monthly Payment   39 [3]  
Maturity Date 2013 2013  
Grant Creek Town Center
     
Debt Instrument [Line Items]      
Carrying Amount of Mortgage Notes   15,247 15,342
Contractual Interest Rate   5.75%  
Effective Interest Rate   5.75%  
Monthly Payment   105 [3]  
Maturity Date   2013  
Park West Place
     
Debt Instrument [Line Items]      
Carrying Amount of Mortgage Notes   55,800 [4] 55,800 [4]
Contractual Interest Rate   2.50% [4]  
Effective Interest Rate   3.66% [4]  
Monthly Payment   120 [3],[4]  
Maturity Date   2013 [4]  
Red Rock Commons
     
Debt Instrument [Line Items]      
Carrying Amount of Mortgage Notes   13,884 [5] 13,800 [5]
Contractual Interest Rate   1.86% [5]  
Effective Interest Rate   1.86% [5]  
Monthly Payment   29 [3],[5]  
Maturity Date   2014 [5]  
Maturity date   Mar. 31, 2015  
Excel Centre
     
Debt Instrument [Line Items]      
Carrying Amount of Mortgage Notes   12,216 12,284
Contractual Interest Rate   6.08%  
Effective Interest Rate   6.08%  
Monthly Payment   85 [3]  
Maturity Date   2014  
Merchant Central
     
Debt Instrument [Line Items]      
Carrying Amount of Mortgage Notes   4,443 4,468
Contractual Interest Rate   5.94%  
Effective Interest Rate   6.75%  
Monthly Payment   30 [3]  
Maturity Date   2014  
Edwards Theatres
     
Debt Instrument [Line Items]      
Carrying Amount of Mortgage Notes   11,774 11,859
Contractual Interest Rate   6.74%  
Effective Interest Rate   5.50%  
Monthly Payment   95 [3]  
Maturity Date   2014  
Gilroy Crossing
     
Debt Instrument [Line Items]      
Carrying Amount of Mortgage Notes   46,439 46,646
Contractual Interest Rate   5.01%  
Effective Interest Rate   5.01%  
Monthly Payment   263 [3]  
Maturity Date   2014  
Promenade Corporate Center
     
Debt Instrument [Line Items]      
Carrying Amount of Mortgage Notes   49,266 49,703
Contractual Interest Rate   4.80%  
Effective Interest Rate   4.80%  
Monthly Payment   344 [3]  
Maturity Date   2015  
5000 South Hulen
     
Debt Instrument [Line Items]      
Carrying Amount of Mortgage Notes   13,598 13,655
Contractual Interest Rate   5.60%  
Effective Interest Rate   6.90%  
Monthly Payment   83 [3]  
Maturity Date   2017  
Lake Pleasant Pavilion
     
Debt Instrument [Line Items]      
Carrying Amount of Mortgage Notes   28,092 28,176
Contractual Interest Rate   6.09%  
Effective Interest Rate   5.00%  
Monthly Payment   143 [3]  
Maturity Date   2017  
Rite Aid - Vestavia Hills
     
Debt Instrument [Line Items]      
Carrying Amount of Mortgage Notes   1,143 1,184
Contractual Interest Rate   7.25%  
Effective Interest Rate   7.25%  
Monthly Payment   21 [3]  
Maturity Date   2018  
Lowe's, Shippensburg
     
Debt Instrument [Line Items]      
Carrying Amount of Mortgage Notes   13,425 13,511
Contractual Interest Rate   7.20%  
Effective Interest Rate   7.20%  
Monthly Payment   110 [3]  
Maturity Date   2031  
Northside Mall
     
Debt Instrument [Line Items]      
Carrying Amount of Mortgage Notes   12,000 [6] 12,000 [6]
Contractual Interest Rate   0.13% [6]  
Effective Interest Rate   1.13% [6]  
Monthly Payment   $ 1 [3],[6]  
Maturity Date   2035 [6]  
[1] Represents (a) the fair value adjustment on assumed debt on acquired properties at the time of acquisition to account for below- or above-market interest rates and (b) an underwriter's discount for the issuance of redevelopment bonds.
[2] The loan at the West Broad Village property was refinanced and the maturity date extended subsequent to May 1, 2020; see Note 18 for further discussion.
[3] Amount represents the monthly payment of principal and interest at March 31, 2013.
[4] The loan bears interest at a rate of LIBOR plus 2.25% (variable interest rate of 2.50% at March 31, 2013). In December 2010, the Company entered into interest rate swap contracts, which fix LIBOR at an average of 1.41% for the term of the loan. The maturity date may be extended for an additional one-year period through December 2014 at the Company's option and upon the satisfaction of conditions precedent and the payment of an extension fee.
[5] The maturity date for the Red Rock Commons construction loan was extended to March 2014 and may be extended for an additional one-year period through March 2015 at the Company's option and upon the satisfaction of conditions precedent and the payment of an extension fee. The construction loan bears interest at the rate of LIBOR plus a margin of 165 basis points to 225 basis points, depending on the Company's leverage ratio (variable interest rate of 1.86% at March 31, 2013).
[6] The debt represents redevelopment revenue bonds to be used for the redevelopment of this property, which mature in November 2035. Interest is reset weekly and determined by the bond remarketing agent based on the market value of the bonds (interest rate of 0.13% at March 31, 2013). The interest rate on the bonds is currently priced off of the Securities Industry and Financial Markets Association index but could change based on the credit of the bonds. The bonds are secured by a $12.1 million letter of credit issued by the Company from the Company's unsecured revolving credit facility. An underwriter's discount related to the original issuance of the bonds with a remaining balance of $108,000 at March 31, 2013 will be amortized as additional interest expense through November 2035.