XML 78 R27.htm IDEA: XBRL DOCUMENT v2.4.0.6
SCHEDULE III
 12 Months Ended
Dec. 31, 2011
SCHEDULE III [Abstract]  
SCHEDULE III
SCHEDULE III
 
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
 
DECEMBER 31, 2011 (In thousands, except footnotes)
 
                                
      
Initial Cost to the Company
     
Gross Amount at which Carried at Close of Period
          
Description
 
Encumbrances
  
Land
  
Buildings and Improvements
  
Costs
Capitalized Subsequent to Acquisition
  
Land
  
Buildings and Improvements
  
Total
  
Accumulated Depreciation Dec. 31, 2011
  
Year Acquired
  
Year Constructed
 
Real Estate Properties (c):
                              
Industrial:
                              
  FLORIDA
                              
  Tampa
                              
     56th Street Commerce Park
 $0   843   3,567   3,470   843   7,037   7,880   4,354   1993  
1981/86/97
 
     Jetport Commerce Park
  0   1,575   6,591   3,704   1,575   10,295   11,870   6,011   1993-99   1974-85 
     Westport Commerce Center
  0   980   3,800   2,350   980   6,150   7,130   3,547   1994   1983/87 
     Benjamin Distribution Center I & II
  0   843   3,963   1,157   883   5,080   5,963   2,668   1997   1996 
     Benjamin Distribution Center III
  0   407   1,503   453   407   1,956   2,363   1,297   1999   1988 
     Palm River Center
  0   1,190   4,625   1,636   1,190   6,261   7,451   3,365   1997/98  
1990/97/98
 
     Palm River North I & III (j)
  5,222   1,005   4,688   2,126   1,005   6,814   7,819   3,029   1998   2000 
     Palm River North II (j)
  4,791   634   4,418   347   634   4,765   5,399   2,433   1997/98   1999 
     Palm River South I
  0   655   3,187   510   655   3,697   4,352   1,218   2000   2005 
     Palm River South II
  0   655   0   4,294   655   4,294   4,949   1,516   2000   2006 
     Walden Distribution Center I
  0   337   3,318   434   337   3,752   4,089   1,511   1997/98   2001 
     Walden Distribution Center II
  0   465   3,738   932   465   4,670   5,135   1,983   1998   1998 
     Oak Creek Distribution Center I
  0   1,109   6,126   539   1,109   6,665   7,774   2,483   1998   1998 
     Oak Creek Distribution Center II
  0   647   3,603   820   647   4,423   5,070   1,438   2003   2001 
     Oak Creek Distribution Center III
  0   439   0   3,167   556   3,050   3,606   704   2005   2007 
     Oak Creek Distribution Center IV
  3,506   805   6,472   235   805   6,707   7,512   1,490   2005   2001 
     Oak Creek Distribution Center V
  0   724   0   5,683   916   5,491   6,407   1,127   2005   2007 
     Oak Creek Distribution Center VI
  0   642   0   5,028   812   4,858   5,670   630   2005   2008 
     Oak Creek Distribution Center IX
  0   618   0   4,912   781   4,749   5,530   288   2005   2009 
     Oak Creek Distribution Center A
  0   185   0   1,428   185   1,428   1,613   148   2005   2008 
     Oak Creek Distribution Center B
  0   227   0   1,485   227   1,485   1,712   163   2005   2008 
     Airport Commerce Center
  0   1,257   4,012   817   1,257   4,829   6,086   1,959   1998   1998 
     Westlake Distribution Center (j)
  6,653   1,333   6,998   1,314   1,333   8,312   9,645   3,813   1998   1998/99 
     Expressway Commerce Center I
  0   915   5,346   981   915   6,327   7,242   2,006   2002   2004 
     Expressway Commerce Center II
  0   1,013   3,247   310   1,013   3,557   4,570   1,314   2003   2001 
     Silo Bend Distribution Center
  0   4,131   27,497   0   4,131   27,497   31,628   71   2011   1987/90 
     Tampa East Distribution Center
  0   1,210   5,852   0   1,210   5,852   7,062   18   2011   1984/90 
     Tampa West Distribution Center
  0   2,572   9,538   0   2,572   9,538   12,110   21   2011  
1975/85/90/93/94
 
  Orlando
                                        
     Chancellor Center
  0   291   1,711   172   291   1,883   2,174   896   1996/97   1996/97 
     Exchange Distribution Center I
  0   603   2,414   1,668   603   4,082   4,685   2,564   1994   1975 
     Exchange Distribution Center II
  0   300   945   84   300   1,029   1,329   472   2002   1976 
     Exchange Distribution Center III
  0   320   997   345   320   1,342   1,662   511   2002   1980 
     Sunbelt Distribution Center (i)
  6,791   1,474   5,745   5,112   1,474   10,857   12,331   6,152  
1989/97/98
  
1974/87/97/98
 
     John Young Commerce Center I
  0   497   2,444   681   497   3,125   3,622   1,390   1997/98   1997/98 
     John Young Commerce Center II
  0   512   3,613   165   512   3,778   4,290   1,950   1998   1999 
     Altamonte Commerce Center I
  0   1,518   2,661   1,941   1,518   4,602   6,120   2,598   1999   1980/82 
     Altamonte Commerce Center II
  0   745   2,618   953   745   3,571   4,316   1,309   2003   1975 
     Sunport Center I
  0   555   1,977   612   555   2,589   3,144   1,111   1999   1999 
     Sunport Center II
  0   597   3,271   1,334   597   4,605   5,202   2,683   1999   2001 
     Sunport Center III
  0   642   3,121   452   642   3,573   4,215   1,539   1999   2002 
     Sunport Center IV
  0   642   2,917   673   642   3,590   4,232   1,261   1999   2004 
     Sunport Center V
  0   750   2,509   1,888   750   4,397   5,147   1,950   1999   2005 
     Sunport Center VI
  0   672   0   3,344   672   3,344   4,016   831   1999   2006 
     Southridge Commerce Park I
  0   373   0   4,453   373   4,453   4,826   1,891   2003   2006 
     Southridge Commerce Park II
  0   342   0   4,284   342   4,284   4,626   1,409   2003   2007 
     Southridge Commerce Park III
  0   547   0   5,278   547   5,278   5,825   940   2003   2007 
     Southridge Commerce Park IV
  0   506   0   4,435   506   4,435   4,941   1,042   2003   2006 
     Southridge Commerce Park V
  0   382   0   4,171   382   4,171   4,553   1,281   2003   2006 
     Southridge Commerce Park VI
  0   571   0   4,772   571   4,772   5,343   845   2003   2007 
     Southridge Commerce Park VII
  0   520   0   6,157   520   6,157   6,677   1,061   2003   2008 
     Southridge Commerce Park VIII
  0   531   0   6,248   531   6,248   6,779   662   2003   2008 
     Southridge Commerce Park XII (o)
  13,476   2,025   0   16,816   2,025   16,816   18,841   1,797   2005   2008 
  Jacksonville
                                        
     Deerwood Distribution Center
  0   1,147   1,799   1,479   1,147   3,278   4,425   1,832   1989   1978 
     Phillips Distribution Center
  0   1,375   2,961   3,725   1,375   6,686   8,061   3,836   1994   1984/95 
      Lake Pointe Business Park (k)
  14,315   3,442   6,450   6,088   3,442   12,538   15,980   7,586   1993   1986/87 
      Ellis Distribution Center
  0   540   7,513   925   540   8,438   8,978   3,320   1997   1977 
     Westside Distribution Center
  0   1,170   12,400   4,191   1,170   16,591   17,761   7,566   1997   1984 
     12th Street Distribution Center
  0   841   2,974   1,368   841   4,342   5,183   521   2008   1985 
     Beach Commerce Center
  0   476   1,899   602   476   2,501   2,977   985   2000   2000 
     Interstate Distribution Center
  4,234   1,879   5,700   913   1,879   6,613   8,492   2,377   2005   1990 
  Fort Lauderdale/Palm Beach area
                                        
     Linpro Commerce Center
  0   613   2,243   1,498   616   3,738   4,354   2,400   1996   1986 
     Cypress Creek Business Park
  0   0   2,465   1,500   0   3,965   3,965   2,138   1997   1986 
     Lockhart Distribution Center
  0   -0   3,489   2,270   0   5,759   5,759   2,926   1997   1986 
     Interstate Commerce Center
  0   485   2,652   648   485   3,300   3,785   1,703   1998   1988 
     Executive Airport Commerce Ctr (p)
  9,496   1,991   4,857   4,956   1,991   9,813   11,804   3,008   2001   2004/06 
     Sample 95 Business Park
  0   2,202   8,785   2,358   2,202   11,143   13,345   5,593   1996/98   1990/99 
     Blue Heron Distribution Center
  0   975   3,626   1,629   975   5,255   6,230   2,564   1999   1986 
     Blue Heron Distribution Center II
  1,288   1,385   4,222   809   1,385   5,031   6,416   1,715   2004   1988 
     Blue Heron Distribution Center III
  0   450   0   2,662   450   2,662   3,112   186   2004   2009 
  Fort Myers
                                        
     SunCoast Commerce Center I
  0   911   0   4,660   928   4,643   5,571   823   2005   2008 
     SunCoast Commerce Center II
  0   911   0   4,731   928   4,714   5,642   1,025   2005   2007 
     SunCoast Commerce Center III
  0   1,720   0   6,372   1,763   6,329   8,092   503   2006   2008 
  CALIFORNIA
                                        
  San Francisco area
                                        
     Wiegman Distribution Center (l)
  11,906   2,197   8,788   1,647   2,308   10,324   12,632   4,264   1996   1986/87 
     Huntwood Distribution Center (l)
  19,842   3,842   15,368   1,819   3,842   17,187   21,029   7,447   1996   1988 
     San Clemente Distribution Center
  0   893   2,004   845   893   2,849   3,742   1,047   1997   1978 
     Yosemite Distribution Center
  0   259   7,058   992   259   8,050   8,309   3,328   1999   1974/87 
  Los Angeles area
                                        
     Kingsview Industrial Center (e)
  3,006   643   2,573   418   643   2,991   3,634   1,310   1996   1980 
     Dominguez Distribution Center (e)
  9,264   2,006   8,025   1,170   2,006   9,195   11,201   4,315   1996   1977 
     Main Street Distribution Center (h)
  3,504   1,606   4,103   636   1,606   4,739   6,345   2,049   1999   1999 
     Walnut Business Center (e)
  7,488   2,885   5,274   894   2,885   6,168   9,053   2,638   1996   1966/90 
     Washington Distribution Center (e)
  5,879   1,636   4,900   572   1,636   5,472   7,108   2,255   1997   1996/97 
     Chino Distribution Center (f)
  11,308   2,544   10,175   1,514   2,544   11,689   14,233   4,932   1998   1980 
     Industry Distribution Center I (e)
  19,987   10,230   12,373   1,562   10,230   13,935   24,165   5,802   1998   1959 
     Industry Distribution Center III (e)
  2,361   0   3,012   (157)  0   2,855   2,855   2,813   2007   1992 
     Chestnut Business Center (h)
  2,929   1,674   3,465   164   1,674   3,629   5,303   1,362   1998   1999 
     Los Angeles Corporate Center
  0   1,363   5,453   2,627   1,363   8,080   9,443   3,807   1996   1986 
  Santa Barbara
                                        
     University Business Center
  10,964   5,517   22,067   4,259   5,520   26,323   31,843   11,645   1996   1987/88 
     Castilian Research Center
  0   2,719   1,410   4,839   2,719   6,249   8,968   787   2005   2007 
  Fresno
                                        
     Shaw Commerce Center (e)
  14,890   2,465   11,627   3,911   2,465   15,538   18,003   7,298   1998  
1978/81/87
 
  San Diego
                                        
     Eastlake Distribution Center (n)
  8,339   3,046   6,888   1,500   3,046   8,388   11,434   3,757   1997   1989 
     Ocean View Corporate Center (p)
  11,111   6,577   7,105   130   6,577   7,235   13,812   875   2010   2005 
  TEXAS
                                        
  Dallas
                                        
     Interstate Distribution Center  I & II (g)
  6,621   1,746   4,941   1,966   1,746   6,907   8,653   4,730   1988   1978 
     Interstate Distribution Center III (g)
  2,454   519   2,008   680   519   2,688   3,207   1,305   2000   1979 
     Interstate Distribution Center IV
  0   416   2,481   260   416   2,741   3,157   912   2004   2002 
     Interstate Distribution Center V, VI, & VII
  0   1,824   4,106   563   1,824   4,669   6,493   1,207   2009  
1979/80/81
 
     Venture Warehouses (g)
  5,481   1,452   3,762   1,949   1,452   5,711   7,163   3,697   1988   1979 
     Stemmons Circle (g)
  2,217   363   2,014   521   363   2,535   2,898   1,342   1998   1977 
     Ambassador Row Warehouses
  0   1,156   4,625   1,826   1,156   6,451   7,607   3,696   1998   1958/65 
     North Stemmons II
  0   150   583   384   150   967   1,117   320   2002   1971 
     North Stemmons III
  0   380   2,066   2   380   2,068   2,448   319   2007   1974 
     Shady Trail Distribution Center (j)
  2,966   635   3,621   678   635   4,299   4,934   1,270   2003   1998 
  Houston
                                        
     Northwest Point Business Park (i)
  5,759   1,243   5,640   3,574   1,243   9,214   10,457   5,270   1994   1984/85 
     Lockwood Distribution Center (i)
  4,503   749   5,444   1,983   749   7,427   8,176   3,249   1997   1968/69 
     West Loop Distribution Center (g)
  5,623   905   4,383   2,061   905   6,444   7,349   3,220   1997/2000   1980 
     World Houston Int'l Business Ctr 1 & 2 (f)
  6,090   660   5,893   1,113   660   7,006   7,666   3,494   1998   1996 
     World Houston Int'l Business Ctr 3, 4 & 5 (g)
  6,195   1,025   6,413   659   1,025   7,072   8,097   3,241   1998   1998 
     World Houston Int'l Business Ctr 6 (g)
  2,549   425   2,423   483   425   2,906   3,331   1,368   1998   1998 
     World Houston Int'l Business Ctr 7 & 8 (g)
  6,781   680   4,584   3,597   680   8,181   8,861   3,731   1998   1998 
     World Houston Int'l Business Ctr 9 (g)
  5,062   800   4,355   1,460   800   5,815   6,615   1,933   1998   1998 
     World Houston Int'l Business Ctr 10 (i)
  3,305   933   4,779   289   933   5,068   6,001   1,677   2001   1999 
     World Houston Int'l Business Ctr 11 (i)
  3,051   638   3,764   1,139   638   4,903   5,541   1,842   1999   1999 
     World Houston Int'l Business Ctr 12 (h)
  1,634   340   2,419   199   340   2,618   2,958   1,225   2000   2002 
     World Houston Int'l Business Ctr 13 (h)
  1,732   282   2,569   284   282   2,853   3,135   1,564   2000   2002 
     World Houston Int'l Business Ctr 14 (i)
  2,126   722   2,629   509   722   3,138   3,860   1,316   2000   2003 
     World Houston Int'l Business Ctr 15 (n)
  4,733   731   0   5,758   731   5,758   6,489   1,996   2000   2007 
     World Houston Int'l Business Ctr 16 (m)
  4,410   519   4,248   786   519   5,034   5,553   1,739   2000   2005 
     World Houston Int'l Business Ctr 17 (j)
  2,592   373   1,945   785   373   2,730   3,103   759   2000   2004 
     World Houston Int'l Business Ctr 18
  0   323   1,512   211   323   1,723   2,046   483   2005   1995 
     World Houston Int'l Business Ctr 19 (k)
  3,129   373   2,256   865   373   3,121   3,494   1,470   2000   2004 
     World Houston Int'l Business Ctr 20 (k)
  3,675   1,008   1,948   1,147   1,008   3,095   4,103   1,330   2000   2004 
     World Houston Int'l Business Ctr 21 (f)
  3,107   436   0   3,474   436   3,474   3,910   685   2000/03   2006 
     World Houston Int'l Business Ctr 22 (n)
  3,389   436   0   4,210   436   4,210   4,646   927   2000   2007 
     World Houston Int'l Business Ctr 23 (f)
  6,305   910   0   7,026   910   7,026   7,936   1,330   2000   2007 
     World Houston Int'l Business Ctr 24 (o)
  4,471   837   0   5,414   837   5,414   6,251   1,126   2005   2008 
     World Houston Int'l Business Ctr 25 (o)
  2,953   508   0   3,620   508   3,620   4,128   546   2005   2008 
     World Houston Int'l Business Ctr 26 (p)
  2,890   445   0   3,147   445   3,147   3,592   436   2005   2008 
     World Houston Int'l Business Ctr 27 (o)
  4,149   837   0   4,964   837   4,964   5,801   599   2005   2008 
     World Houston Int'l Business Ctr 28 (p)
  3,698   550   0   4,047   550   4,047   4,597   451   2005   2009 
     World Houston Int'l Business Ctr 29 (p)
  3,952   782   0   4,130   974   3,938   4,912   415   2007   2009 
     World Houston Int'l Business Ctr 30 (p)
  5,334   981   0   5,650   1,222   5,409   6,631   547   2007   2009 
     America Plaza (g)
  4,706   662   4,660   829   662   5,489   6,151   2,491   1998   1996 
     Central Green Distribution Center (g)
  3,611   566   4,031   122   566   4,153   4,719   1,795   1999   1998 
     Glenmont Business Park (g)
  7,323   936   6,161   2,474   936   8,635   9,571   3,588   1998   1999/2000 
     Techway Southwest I (i)
  3,594   729   3,765   2,032   729   5,797   6,526   2,357   2000   2001 
     Techway Southwest II (k)
  4,417   550   3,689   691   550   4,380   4,930   1,445   2000   2004 
     Techway Southwest III (n)
  4,456   597   0   5,512   751   5,358   6,109   1,514   1999   2006 
     Techway Southwest IV (p)
  4,967   535   0   5,639   674   5,500   6,174   712   1999   2008 
     Beltway Crossing I (i)
  4,165   458   5,712   1,394   458   7,106   7,564   2,723   2002   2001 
     Beltway Crossing II (n)
  2,306   415   0   2,747   415   2,747   3,162   659   2005   2007 
     Beltway Crossing III (n)
  2,574   460   0   3,069   460   3,069   3,529   763   2005   2008 
     Beltway Crossing IV (n)
  2,510   460   0   2,981   460   2,981   3,441   838   2005   2008 
     Beltway Crossing V (p)
  4,350   701   0   4,706   701   4,706   5,407   871   2005   2008 
     Beltway Crossing VI
  0   618   0   5,995   618   5,995   6,613   578   2005   2008 
     Beltway Crossing VII
  0   765   0   5,705   765   5,705   6,470   614   2005   2009 
     Kirby Business Center (j)
  2,910   530   3,153   332   530   3,485   4,015   951   2004   1980 
     Clay Campbell Distribution Center
  0   742   2,998   370   742   3,368   4,110   1,160   2005   1982 
  El Paso
                                        
     Butterfield Trail
  0   0   20,725   6,003   0   26,728   26,728   13,643   1997/2000   1987/95 
     Rojas Commerce Park (g)
  5,391   900   3,659   2,486   900   6,145   7,045   3,969   1999   1986 
     Americas Ten Business Center I (j)
  2,862   526   2,778   1,107   526   3,885   4,411   1,704   2001   2003 
  San Antonio
                                        
     Alamo Downs Distribution Center (m)
  6,832   1,342   6,338   922   1,342   7,260   8,602   2,952   2004   1986/2002 
     Arion Business Park (m)
  30,842   4,143   31,432   3,257   4,143   34,689   38,832   11,397   2005   1988-2000/06 
     Arion 14 (m)
  2,941   423   0   3,280   423   3,280   3,703   774   2005   2006 
     Arion 16 (f)
  3,108   427   0   3,485   427   3,485   3,912   576   2005   2007 
     Arion 17 (m)
  3,452   616   0   3,731   616   3,731   4,347   1,059   2005   2007 
     Arion 18
  0   418   0   2,316   418   2,316   2,734   536   2005   2008 
     Arion 8 expansion (m)
  1,227   0   0   1,545   0   1,545   1,545   34   2005   2011 
     Wetmore Business Center (n)
  10,735   1,494   10,804   2,420   1,494   13,224   14,718   4,360   2005   1998/99 
     Wetmore Phase II, Building A (p)
  2,999   412   0   3,316   412   3,316   3,728   715   2006   2008 
     Wetmore Phase II, Building B (p)
  3,269   505   0   3,559   505   3,559   4,064   547   2006   2008 
     Wetmore Phase II, Building C (p)
  2,997   546   0   3,180   546   3,180   3,726   287   2006   2008 
     Wetmore Phase II, Building D (p)
  6,720   1,056   0   7,297   1,056   7,297   8,353   936   2006   2008 
     Fairgrounds Business Park (n)
  8,221   1,644   8,209   1,418   1,644   9,627   11,271   2,461   2007   1985/86 
     Rittiman Distribution Center
  0   1,083   6,649   0   1,083   6,649   7,732   9   2011   2000 
  ARIZONA
                                        
  Phoenix area
                                        
     Broadway Industrial Park I (h)
  2,728   837   3,349   753   837   4,102   4,939   2,021   1996   1971 
     Broadway Industrial Park II
  0   455   482   161   455   643   1,098   349   1999   1971 
     Broadway Industrial Park III (h)
  1,622   775   1,742   420   775   2,162   2,937   948   2000   1983 
     Broadway Industrial Park IV (h)
  1,552   380   1,652   778   380   2,430   2,810   992   2000   1986 
     Broadway Industrial Park V (i)
  854   353   1,090   107   353   1,197   1,550   514   2002   1980 
     Broadway Industrial Park VI (f)
  2,348   599   1,855   502   599   2,357   2,956   1,019   2002   1979 
     Broadway Industrial Park VII
  0   450   650   19   450   669   1,119   4   2011   1999 
     Kyrene Distribution Center
  310   850   2,044   544   850   2,588   3,438   1,267   1999   1981 
     Kyrene Distribution Center II
  0   640   2,409   706   640   3,115   3,755   1,464   1999   2001 
     Southpark Distribution Center (h)
  2,342   918   2,738   585   918   3,323   4,241   1,156   2001   2000 
     Santan 10 Distribution Center I (m)
  2,971   846   2,647   248   846   2,895   3,741   1,049   2001   2005 
     Santan 10 Distribution Center II (f)
  4,907   1,088   0   5,089   1,088   5,089   6,177   1,232   2004   2007 
     Metro Business Park
  0   1,927   7,708   5,271   1,927   12,979   14,906   6,892   1996   1977/79 
     35th Avenue Distribution Center (i)
  1,764   418   2,381   405   418   2,786   3,204   1,087   1997   1967 
     Estrella Distribution Center
  0   628   4,694   1,768   628   6,462   7,090   2,239   1998   1988 
     51st Avenue Distribution Center (h)
  1,720   300   2,029   785   300   2,814   3,114   1,287   1998   1987 
     East University Distribution Center I and II (f)
  5,057   1,120   4,482   763   1,120   5,245   6,365   2,496   1998   1987/89 
     East University Distribution Center III
  0   444   698   47   444   745   1,189   55   2010   1981 
     55th Avenue Distribution Center (f)
  4,258   912   3,717   730   917   4,442   5,359   2,141   1998   1987 
     Interstate Commons Dist Ctr I
  0   798   3,632   819   798   4,451   5,249   1,894   1999   1988 
     Interstate Commons Dist Ctr II
  0   320   2,448   359   320   2,807   3,127   1,063   1999   2000 
     Interstate Commons Dist Ctr III
  0   242   0   2,882   242   2,882   3,124   477   2000   2008 
     Airport Commons
  0   1,000   1,510   791   1,000   2,301   3,301   857   2003   1971 
     40th Avenue Distribution Center (p)
  5,415   703   0   6,028   703   6,028   6,731   771   2004   2008 
     Sky Harbor Business Park
  0   5,839   0   20,620   5,839   20,620   26,459   1,869   2006   2008 
  Tucson
                                        
     Country Club I (k)
  5,503   506   3,564   2,073   693   5,450   6,143   1,711   1997/2003   1994/2003 
     Country Club II
  0   442   3,381   37   442   3,418   3,860   595   2007   2000 
     Country Club III & IV
  0   1,407   0   11,076   1,575   10,908   12,483   951   2007   2009 
     Airport Distribution Center (h)
  4,037   1,103   4,672   1,534   1,103   6,206   7,309   2,844   1998   1995 
     Southpointe Distribution Center (h)
  3,829   0   3,982   2,950   0   6,932   6,932   2,993   1999   1989 
     Benan Distribution Center
  0   707   1,842   602   707   2,444   3,151   995   2005   2001 
  NORTH CAROLINA
                                        
  Charlotte
                                        
     NorthPark Business Park (f)
  16,605   2,758   15,932   2,209   2,758   18,141   20,899   4,660   2006   1987-89 
     Lindbergh Business Park 
  0   470   3,401   262   470   3,663   4,133   889   2007   2001/03 
     Commerce Park I (n)
  4,159   765   4,303   635   765   4,938   5,703   1,089   2007   1983 
     Commerce Park II
  0   335   1,603   142   335   1,745   2,080   194   2010   1987 
     Commerce Park III
  0   558   2,225   177   558   2,402   2,960   259   2010   1981 
     Nations Ford Business Park (n)
  15,766   3,924   16,171   1,523   3,924   17,694   21,618   4,839   2007   1989/94 
     Airport Commerce Center (o)
  8,840   1,454   10,136   769   1,454   10,905   12,359   1,673   2008   2001/02 
     Interchange Park (o)
  6,587   986   7,949   273   986   8,222   9,208   1,188   2008   1989 
     Ridge Creek Distribution Center I (o)
  10,599   1,284   13,163   371   1,284   13,534   14,818   1,712   2008   2006 
     Ridge Creek Distribution Center II
  0   3,033   11,497   12   3,033   11,509   14,542   156   2011   2003 
     Waterford Distribution Center (o)
  2,926   654   3,392   45   654   3,437   4,091   367   2008   2000 
     Lakeview Business Center
  0   1,392   5,068   39   1,392   5,107   6,499   97   2011   1996 
  LOUISIANA
                                        
  New Orleans
                                        
     Elmwood Business Park
  0   2,861   6,337   3,377   2,861   9,714   12,575   5,821   1997   1979 
     Riverbend Business Park
  0   2,592   17,623   3,262   2,592   20,885   23,477   9,601   1997   1984 
  COLORADO
                                        
  Denver
                                        
     Rampart Distribution Center I (m)
  5,010   1,023   3,861   1,424   1,023   5,285   6,308   3,118   1988   1987 
     Rampart Distribution Center II (m)
  3,274   230   2,977   916   230   3,893   4,123   2,274   1996/97   1996/97 
     Rampart Distribution Center III (m)
  5,002   1,098   3,884   1,316   1,098   5,200   6,298   2,227   1997/98   1999 
     Concord Distribution Center
  0   1,051   4,773   413   1,051   5,186   6,237   1,095   2007   2000 
     Centennial Park (p)
  4,639   750   3,319   1,697   750   5,016   5,766   740   2007   1990 
  NEVADA
                                        
  Las Vegas
                                        
     Arville Distribution Center
  0   4,933   5,094   197   4,933   5,291   10,224   844   2009   1997 
  MISSISSIPPI
                                        
     Interchange Business Park (h)
  4,153   343   5,007   2,171   343   7,178   7,521   3,663   1997   1981 
     Tower Automotive
  0   0   9,958   1,190   17   11,131   11,148   3,156   2001   2002 
     Metro Airport Commerce Center I
  0   303   1,479   956   303   2,435   2,738   1,143   2001   2003 
  TENNESSEE
                                        
  Memphis
                                        
     Air Park Distribution Center I
  0   250   1,916   851   250   2,767   3,017   1,276   1998   1975 
  OKLAHOMA
                                        
  Oklahoma City
                                        
     Northpointe Commerce Center
  0   777   3,113   788   998   3,680   4,678   1,499   1998   1996/97 
  Tulsa
                                        
     Braniff Park West
  0   1,066   4,641   3,425   1,066   8,066   9,132   4,070   1996   1974 
    627,748   233,194   837,129   480,121   235,394   1,315,050   1,550,444   451,755         
Industrial Development (d):
                                        
  FLORIDA
                                        
     Oak Creek land
  0   1,946   0   2,540   2,374   2,112   4,486   0   2005   n/a 
     Southridge IX
  0   468   0   4,894   468   4,894   5,362    0   2003   n/a 
     Southridge land
  0   927   0   3,140   927   3,140   4,067   0   2003   n/a 
     Horizon land
  0   14,072   0   6,458   14,157   6,373   20,530   0   2008/09   n/a 
     SunCoast land
  0   10,926   0   6,277   11,105   6,098   17,203   0   2006   n/a 
  TEXAS
                                        
     North Stemmons land (h)
  422   537   0   227   537   227   764   0   2001   n/a 
     World Houston Int'l Business Ctr 31A
  0   684   0   3,159   684   3,159   3,843   50   2008   n/a 
     World Houston Int'l Business Ctr 31B
  0   546   0   814   546   814   1,360   0   2008   n/a 
     World Houston Int'l Business Ctr 32
  0   1,146   0   5,064   1,427   4,783   6,210   0   2007   n/a 
     World Houston Int'l Business Ctr land
  0   2,407   0   1,878   2,407   1,878   4,285   0  
2000/05/06
   n/a 
     World Houston Int'l Business Ctr land - expansion
     0
   10,071   0   536   10,071   536   10,607    0   2011   n/a 
     Beltway Crossing VIII
  0   721   0   4,478   721   4,478   5,199   0   2005   n/a 
     Beltway Crossing IX
  0   418   0   723   418   723   1,141   0   2007   n/a 
     Beltway Crossing X
  0   733   0   1,273   733   1,273   2,006   0   2007   n/a 
     Beltway Crossing Phase II land
  0   690   0   372   690   372   1,062   0   2007   n/a 
     Lee Road land
  0   3,068   0   2,093   3,822   1,339   5,161   0   2007   n/a 
     Americas Ten Business Center II & III land
  0   1,365   0   1,079   1,365   1,079   2,444   0   2001   n/a 
     Alamo Ridge land
  0   2,288   0   1,666   2,288   1,666   3,954   0   2007   n/a 
     Thousand Oaks I
  0   607   0   1,802   607   1,802   2,409    0   2008   n/a 
     Thousand Oaks II
  0   794   0   2,370   794   2,370   3,164    0   2008   n/a 
     Thousand Oaks land
  0   772   0   290   772   290   1,062   0   2008   n/a 
  ARIZONA
                                        
     Airport Distribution Center II land
  0   300   0   117   300   117   417   0   2000   n/a 
     Kyrene land
  0   3,220   0   241   3,220   241   3,461   0   2011   n/a 
  NORTH CAROLINA
                                        
     Airport Commerce Center III land
  0   855   0   391   855   391   1,246   0   2008   n/a 
  MISSISSIPPI
                                        
     Metro Airport Commerce Center II land
  0   307   0   399   307   399   706   0   2001   n/a 
    422   59,868   0   52,281   61,595   50,554   112,149   50         
                                          
Total real estate owned (a)(b)
 $628,170   293,062   837,129   532,402   296,989   1,365,604   1,662,593   451,805         
                                          
See accompanying Report of Independent Registered Public Accounting Firm on Financial Statement Schedules.
             
                                          

 
 
(a)      Changes in Real Estate Properties follow:
 
 
Years Ended December 31,
 
2011
 
2010
 
2009
                                                                                                                                                                                                                                                                                                                                                                                                (In thousands)
           
Balance at beginning of year 
 $1,521,177   1,468,182   1,402,636 
Purchases of real estate properties 
  80,624   19,897   15,957 
Development of real estate properties
  42,148   9,145   35,057 
Improvements to real estate properties
  18,686   23,953   16,212 
Carrying amount of investments sold 
  -   -   (1,680)
Write-off of improvements 
  (42)  -   - 
Balance at end of year (1) 
 $1,662,593   1,521,177   1,468,182 

(1)  
Includes 20% noncontrolling interests in Castilian Research Center of $1,794,000 at December 31, 2011 and $1,793,000 at December 31, 2010 and in University Business Center of $6,369,000 and $6,342,000, respectively.

Changes in the accumulated depreciation on real estate properties follow:
 
 
Years Ended December 31,
 
2011
 
2010
 
2009
                                                                                                                                                                                                                                                                                                                                                                                                 (In thousands)
           
Balance at beginning of year 
 $403,187   354,745   310,351 
Depreciation expense 
  48,648   48,442   45,195 
Accumulated depreciation on assets sold 
  -   -   (801)
Other 
  (30)  -   - 
Balance at end of year 
 $451,805   403,187   354,745 

(b)      The estimated aggregate cost of real estate properties at December 31, 2011 for federal income tax purposes was approximately $1,618,749,000 before estimated accumulated tax depreciation of $284,908,000.  The federal income tax return for the year ended December 31, 2011, has not been filed and accordingly, this estimate is based on preliminary data.

(c)      The Company computes depreciation using the straight-line method over the estimated useful lives of the buildings (generally 40 years) and improvements (generally 3 to 15 years).

(d)      The Company transfers development properties to real estate properties the earlier of 80% occupancy or one year after completion of the shell construction.

(e)      EastGroup has a $62,875,000 limited recourse first mortgage loan with an insurance company secured by Dominguez, Industry Distribution Center I & III, Kingsview, Shaw, Walnut, and Washington.  The loan has a recourse liability of $5 million which will be released based on the secured properties generating certain base rent amounts.

(f)    EastGroup has a $63,093,000 non-recourse first mortgage loan with an insurance company secured by Arion 16, Broadway VI, Chino, East University I & II, Northpark I-IV, Santan 10 II, South 55th Avenue, and World Houston 1 & 2 and 21 & 23.

(g)      EastGroup has a $64,014,000 non-recourse first mortgage loan with an insurance company secured by America Plaza, Central Green, Glenmont I & II, Interstate I, II & III, Rojas, Stemmons Circle, Venture, West Loop I & II, and World Houston 3-9.

(h)      EastGroup has a $32,204,000 non-recourse first mortgage loan with an insurance company secured by 51st Avenue, Airport Distribution, Broadway I, III & IV, Chestnut, Interchange Business Park, Main Street, North Stemmons I land, Southpark, Southpointe, and World Houston 12 & 13.

(i)      EastGroup has a $35,912,000 non-recourse first mortgage loan with an insurance company secured by 35th Avenue, Beltway Crossing I, Broadway V, Lockwood, Northwest Point, Sunbelt, Techway Southwest I, and World Houston 10, 11 & 14.

(j)    EastGroup has a $27,996,000 non-recourse first mortgage loan with an insurance company secured by Americas Ten I, Kirby, Palm River North I, II & III, Shady Trail, Westlake I & II, and World Houston 17.

(k)    EastGroup has a $31,039,000 non-recourse first mortgage loan with an insurance company secured by Country Club I, Lake Pointe, Techway Southwest II, and World Houston 19 & 20.

(l)   EastGroup has a $31,748,000 non-recourse first mortgage loan with an insurance company secured by Huntwood and Wiegman.

(m)   EastGroup has a $65,961,000 non-recourse first mortgage loan with an insurance company secured by Alamo Downs, Arion 1-15 & 17, Rampart I, II & III, Santan 10, and World Houston 16.
 
(n)   EastGroup has a $67,188,000 non-recourse first mortgage loan with an insurance company secured by Beltway II, III & IV, Commerce Park 1, Eastlake, Fairgrounds I-IV, Nations Ford I-IV, Techway Southwest III, Wetmore I-IV, and World Houston 15 & 22.

(o)   EastGroup has a $54,001,000 non-recourse first mortgage loan with an insurance company secured by Airport Commerce Center I & II, Interchange Park, Ridge Creek Distribution Center I, Southridge XII, Waterford Distribution Center, and World Houston 24, 25 & 27.

(p)  EastGroup has a $71,837,000 non-recourse first mortgage loan with an insurance company secured by 40th Avenue, Beltway V, Centennial Park, Executive Airport, Ocean View, Techway Southwest IV, Wetmore V-VIII, and World Houston 26, 28, 29 & 30.