BEIJING (Reuters) - China's factory output slowed more than expected in the first two months of 2012 to grow just 11.4 percent from a year ago as cooling demand at home and abroad dragged production growth to its weakest in over 2-1/2 years.

Economists polled by Reuters had forecast industrial production growth of 12.3 percent in January and February.

Growth in fixed asset investment, which accounted for 54 percent of China's 2011 gross domestic product, slowed to 21.5 percent in the first two months , from 23.8 percent in December.

It was the lowest since the end of 2002 but still above the 20 percent forecast economists.

Retail sales missed market expectations to grow just 14.7 percent in January and February . Economists had expected growth of 17.5 percent.

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KEY POINTS:

- Jan-Feb industrial output up 11.4 pct on year (forecast up 12.3 pct; previous up 12.8 pct)

- Jan-Feb fixed asset investment up 21.5 pct on year (forecast up 20 pct; previous up 23.8 pct)

- Jan-Feb retail sales up 14.7 pct on year (forecast up 17.5 pct; previous up 18.1 pct)

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Instant View: China output, investment, retail sales growth slows

Target is expected to be the primary anchor for a new shopping center that will rise near the Kaiser hospital in South San Jose.

The new retail complex, dubbed Village Oaks, will total 320,000 square feet. Besides Target, a major supermarket is expected to be one of the anchors. A health club, restaurants, banking and other retail are expected to make up much of the remainder of the tenants.

After stalling during the recession, the center's launch is being bolstered by a rebounding local economy. Principal developer Hunter Storm Properties has teamed up with realty finance and investment firm Pacific Coast Capital Partners.

"We have very strong interest in most retail categories for this site," said

The location of the retail complex, near Highway 85 and Cottle Road, is in a retail void for large shopping centers.

"This area is really underserved for retail," said James Chung, a partner with Terranomics, a real estate firm that is scouting for tenants to occupy the project.

The developers and Terranomics wouldn't identify the anchors that have agreed to move to the center, which will occupy a portion of the former IBM disk drive factory site.

However, marketing materials for the complex and a residential development that will be constructed nearby

The nearest Target stores are at San Jose's The Plant shopping center and on East Capitol Exopressway off Highway 101 to the north, Oakridge mall to the west and a shopping center in Morgan Hill near 101 and Cochrane Road.

The robust job market in the South Bay has helped coax considerable interest out of big retailers for this center and elsewhere in Silicon Valley.

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Big retail center planned for south San Jose to include a Target

Redevelopment of the historic Blass Building in downtown Little Rock will begin in June to convert the former retail property into 100,000 SF of office space, 20 loft-style apartments and more.

The developers, Doyle Rogers Co. and Moses Tucker Real Estate, described it as a $20 million project.

Accompanying the project will be 200 employees from the Office of Child Support Enforcement, which will lease space in the building. A 300-car parking garage will be built at the northeast corner of Fourth and Louisiana streets as part of the project.

Construction is expected to be completed in mid-2013, according to the developers.

Officials at the two companies on Wednesday announced their plans for the 105-year-old building at 317 Main St. The development encompasses the seven-story building, once the flagship of Blass Department Stores, and its adjoining three-level annex.

New Market Tax Credits through the Heartland Renaissance Fund of Little Rock are an important component of the financial package backing the deal.

Doyle Rogers, the famed Batesville developer behind the Peabody Hotel, Stephens Building and Statehouse Convention Center, has owned the property for more than 12 years, awaiting a redevelopment opportunity.

"The time has now come," said Tommy Lasiter, CEO and president of the Doyle Rogers Co.

The redevelopment is owned by Blass Property LLC, which includes Lasiter, Jimmy Moses, Rett Tucker and Rogers' son and daughter, Doyle "Rog" Rogers Jr. and Barbara Hoover.

[Link to this article]

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Moses Tucker, Doyle Rogers to Put New Office, Loft Space in Blass Building

DANBURY -- The city's west side is already home to condominiums and apartment projects. Building has resumed at the long-dormant Rivington project.

And if things fall into place for Greenwich developer Paul Foley, there will be a new mixed-use center -- with a two-screen movie theater, a rehearsal space, retail shops, cafes, offices and dozens of loft apartments -- on Old Ridgebury Road.

"The people who live in Rivington won't have to drive down to Mill Plain Road," Foley said Wednesday of the busy, strip-mall-line thoroughfare that is the lifeline of the west side. "They'll be able to just stop here."

On Tuesday, Foley's project moved forward when the City Council voted 17-4 to approve selling 13 acres of city-owned land off Old Ridgebury Road for $3.2 million to Foley and his company, Greenwich Development Group.

Foley said he hopes to close on the property by June, and begin construction in the spring of 2013.

Foley told the council Tuesday that the project will be a mixed-use "lifestyle center," with each use complementing the others.

"There's nothing like it in the city," he said.

Foley said Wednesday the development will have a movie theater showing independent films. One part will have about 250 seats, a second will have 300 to 400 seats.

It will also have a rehearsal/performance space that could also be used for film production. Foley said while the developers will own this space, the city will have full use of it for free.

There will also be retail space for boutiques, offices, restaurants, and loft apartments that would appeal to young adults or couples or empty-nesters, rather than families. Foley said he was not sure how many of these units there will be in the development.

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Theater, lofts slated for city's west side

Some big changes are coming to two of San Luis Obispo's major retail areas: downtown and the Madonna Plaza shopping center.

Sports Authority, the Denver-based sporting goods company that fills nearly a block on Chorro Street, between Higuera and Marsh, is leaving downtown, according to Sports Authority Operations Manager Sara Jones.

Jones confirmed the store on Chorro is preparing to move into the spot where Borders Books and Music had been in Madonna Plaza, and will also take over spaces formerly occupied by the All That Glitters jewelry store and The Bed Store.

Those retail spaces are undergoing major construction to change them from three separate stores into one 35,000 square-foot retail space.

Jones said the move should be complete sometime in mid-May.

As for what might go into the downtown space now occupied by Sports Authority, it remains to be seen.

We are working on finding a replacement tenant, according to Therese Cron, tenant coordinator for Copeland Properties.

The lease agreement between Sports Authority and Copeland is not up until the end of the year, Cron added.

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Changes coming to major San Luis Obispo retail centers

FOUNTAIN VALLEY A project near the Civic Center with a 127-room hotel, 27 single-family detached homes, 61 townhomes and 2,300 square feet of retail space has gotten its final approval from the City Council despite concerns from residents about increased traffic.

The City Council chamber was filled Tuesday night with residents and community members, with about 25 people standing outside. Nearly 20 residents spoke out against the project - on Brookhurst Street and Slater Avenue - by the Ayres Hotel and Olson Co.

Project rendering of the 127-room Ayres Hotel to be built if approved by the Fountain Valley City Council on March 6.

PHOTO COURTESY OF OLSON CO.

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Most of the speakers cited concerns about increased traffic in an already congested intersection and others were concerned about potential construction issues.

The City Council approved the project 4-0, with Councilman Mark McCurdy, who lives within 500 feet of the project area, abstaining from the vote.

City officials say the hotel would bring in transient occupancy tax for the city and the townhomes would create housing for families and young people who can't afford single-family homes.

Construction for the Fountain Valley Civic Center Specific Plan Project is tentatively set for July 1, Planning and Building Director Andy Perea said after the meeting. The project includes demolition of a vacant SAFECO Insurance building, a building used by Coastline Community College and elimination of storage units used by the police department.

Construction of the hotel is expected to be completed within a year from when construction starts, said Don Ayres, hotel principal in an interview.

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Fountain Valley council OKs hotel, homes

DANBURY -- The city's west side is already home to condominiums and apartment projects. They're now building at the long-dormant Rivington project.

And if things fall into place for Greenwich developer Paul Foley, there will be a new mixed-use center -- with a two-screen movie theater, a rehearsal space, retail shops, cafes, office and dozens of loft apartments -- to serve them all on Old Ridgebury Road.

"The people who live in Rivington won't have to drive down to Mill Plain Road,'' Foley said Wednesday of the busy, strip-mall-line thoroughfare that is the life line of the west side. "They'll be able to just stop here.''

On Tuesday night, Foley's project moved forward when the City Council voted 17-4 to approve selling 13 acres of city-owned land off Old Ridgebury Road for $3.2 million to Foley and his company, Greenwich Development Group.

Foley said he hopes to close on the property by June, and begin construction in the spring of 2013.

Foley told the council Tuesday that the project will be a mixed-use "lifestyle center'' with each use complementing the others.

"There's nothing like it in the city,'' he said.

Foley said Wednesday the development will have a movie theater showing independent films, with two screens: one with about 250 seats, a second with about 300 to 400 seats.

It will also have a rehearsal/performance space that could also be used for film production. Foley said that while the developers will own this space, the city will have full use of it for free.

There will also be retail space for boutiques, offices, restaurants and loft apartments that would appeal to young adults or couples, or empty-nesters, rather than families. Foley was not sure of how many of these units there will be in the development.

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Theaters, lofts, slated for city's westside

CORPUS CHRISTI More trees, a boardwalk and a central place for food and retail vendors along the waterfront in downtown are part of a design that could be an economic catalyst for Corpus Christi.

About 250 people had a first look Tuesday night at two design concepts for a 27-acre public site. San Francisco-based firm Hargreaves Associates is leading a team to come up with a master plan for Destination Bayfront a group of local business leaders spearheading an effort to redevelop the city-owned space.

"This is a game-changer for the future of this city," Mayor Joe Adame said at the start of the meeting. "We have to be committed as a community that we are going to get this done."

One option divides the public space into five "rooms" with parking in between and along Shoreline Boulevard for better access. The rooms include a children's play area near McGee Beach, a family area for lawn games, picnics and birthday parties, an open lawn area to host festivals, Sherrill Park and an art plaza near the Corpus Christi Art Center at Coopers Alley.

A second option incorporates the same five areas for public use, but blends them into a continuous space without interruptions for parking areas. Parking for this concept would extend along Shoreline Boulevard on the edge of the park.

Tuesday night was the first of four public meetings during the eight-month planning process, which began in January. It's a chance for the design team to gauge what the public likes and dislikes about the concepts.

"We are still very much in a listening mode," Hargreaves Associates Senior Principal Mary Margaret Jones said.

Hargreaves is working with a team of architects, engineers, economic development analysts, real estate brokers and a public relations firm to write a plan for a public-private partnership of the park space. Their work will include costs for design, building, operating and maintaining the park, and how it could work as an economic spark plug for the city.

Jones has compared Corpus Christi's bayfront to the firm's Discovery Green park, which before it was redeveloped, was an empty 12-acre space in downtown Houston. Discovery Green, which includes water features and retail buildings, cost about $31 million to build.

The first year Discovery Green was open, it attracted more than 1 million visitors, and it has generated about $1 billion in private investment in that area, she said. Local chambers of commerce are planning a visit to the site April 21.

Link:
About 250 residents have first look Tuesday night at two design concepts for Destination Bayfront

Company Release - 3/6/12

SAN DIEGO - American Assets Trust, Inc. (NYSE: AAT - News) (the "Company") today reported financial results for its fourth quarter and year-end December31,2011 and provided full year guidance for the fiscal year ending December 31, 2012.

Financial Results and Recent Developments

During the fourth quarter of 2011, the Company generated funds from operations ("FFO") for common stockholders and unitholders of $16.3 million, or $0.28 per diluted share/unit. For the year ended December31,2011, the Company generated FFO for common stockholders and unitholders of $57.3 million, or $1.05 per diluted share/unit, and FFO As Adjusted for common stockholders and unitholders of $60.3 million, or $1.11per diluted share/unit. FFO As Adjusted reflects adjustments to FFO for nonoperational items directly related to the Company`s initial public offering ("IPO") on January 19, 2011. Unitholders refers to holders of units of our operating partnership.

Net income attributable to common stockholders was $0.3 million, or $0.01 per basic and diluted share, for the three months ended December31,2011. For the year ended December31,2011, net income attributable to common stockholders was $2.9 million, or $0.08 per basic and diluted share.

FFO and FFO As Adjusted are non-GAAP supplemental earnings measures which the Company considers meaningful in measuring its operating performance.Reconciliations of FFO and FFO As Adjusted to net income are attached to this press release.

Portfolio Results

The portfolio leased status as of the end of the indicated quarter was as follows:

During the fourth quarter of 2011, the Company signed 44 leases for approximately 186,900 square feet of retail and office space, as well as 112 multifamily apartment leases. Renewals accounted for 79.2%of the comparable retail leases, 100% of the comparable office leases and 53.6% of the residential leases.

Retail

Read the original:
American Assets Trust, Inc. Reports Fourth Quarter and Year-End 2011 Financial Results

Published: Monday, March 5, 2012 at 11:17 p.m. Last Modified: Monday, March 5, 2012 at 11:17 p.m.

LAKELAND | Lakeland city commissioners voted 5-1 Monday to move forward with a new downtown development that includes 21 lofts, 14 two- and three-story town homes and 5,000 square feet of retail space.

White Challis Redevelopment Co. ,of Daytona Beach, plans to develop the 53,000 square-foot parcel in the city-owned Bay Street parking lot off Kentucky Avenue. Construction on the first phase is expected to begin in 2014.

Commissioner Keith Merritt voted against the plans. He said the development will hurt parking for businesses in the area, such as the Purple Onion restaurant.

"I have lots of concerns about that impact," said Merritt, who has a law office on Kentucky Avenue near the proposed development.

About 142 parking spaces will be lost.

The vote means the city will give a parcel that has been valued at $318,000 to White Challis. Tamara Sakagawa, Lakeland Community Redevelopment Manager, said the city should recoup its investment in about six years through property taxes and revenue from the economic development created by the new residences.

The new development will be called New Southern Square.

Mitch Harvey, who owns nearby Mitchell's Coffeehouse, said no one has given him anything during his 15 years of owning a business.

"It's a concern if we are giving land away," Harvey said. "I hope it doesn't become a practice."

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Commission Approves Use of Downtown Lot for Development