8-K

                UNITED STATES SECURITIES AND EXCHANGE COMMISSION


                             Washington, D.C. 20549


                                    FORM 8-K


                                 CURRENT REPORT


     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


                                October 25, 2004
                Date of Report (Date of earliest event reported)


                         American Spectrum Realty, Inc.
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             (Exact name of registrant as specified in its charter)


Maryland                            001-16785                   52-2258674
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(State or Other                    (Commission              (I.R.S. Employer
Jurisdiction of                    File Number)               Identification
incorporation)                                                          No.)

                5850 San Felipe, Suite 450, Houston, Texas 77057
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               (Address of principal executive offices) (Zip Code)


                                 (713) 706-6200
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              (Registrant's telephone number, including area code)


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          (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instructions A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act
    (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
    (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
    Act (17 CFR  240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
    Act (17 CFR 240.13e-4(c))



Item 8.01 Other Events.

On October 25, 2004, American Spectrum Realty, Inc. issued a press release,
a copy of which is attached hereto as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

(c) Exhibits.

Exhibit           Description
- -------           -----------

99.1              Press Release dated October 25, 2004





                                   SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                             AMERICAN SPECTRUM REALTY, INC.

                             By:      /s/ William J. Carden
                                   --------------------------------------
                                   Name:    William J. Carden
                                   Title:   Chairman of the Board, President
                                            and Chief Executive Officer


Date:  October 26, 2004

EX-99.1

                                                                    Exhibit 99.1

American Spectrum Realty Announces Purchase of Office Building in Houston

    HOUSTON--(BUSINESS WIRE)--Oct. 25, 2004--

         Purchase Increases American Spectrum's Total Leasable
          Space in Texas to Approximately 900,000 Square Feet

    American Spectrum Realty Inc. (AMEX:AQQ), a real estate investment
and management company, headquartered in Houston, Texas, announced
today the purchase of a six-story office building in Houston, Texas.
The office building, located at 11500 Northwest Freeway, has 81,587
square feet and is currently 89% leased.
    William J. Carden, president and CEO, stated, "We are pleased to
add this office building to our portfolio. This building increases our
Texas portfolio to twelve properties and to approximately 900,000
square feet. The acquisition is in line with our strategy to increase
our presence in the Texas market, as we have acquired nine office
buildings in Houston, Texas, since 2002."
    Mr. Carden added, "Management and leasing of the building will be
handled by personnel in our corporate headquarters located in Houston.
Any leasing inquiries should be directed to Bill McGrath, CCIM,
regional leasing representative, at 713-706-6200."
    American Spectrum Realty Inc. is a real estate investment and
management company that owns 25 office, industrial, apartment and
retail properties aggregating over 2.2 million square feet in
California, Texas, Arizona, South Carolina and the Midwest. Publicly
traded on the American Stock Exchange since November 2001, American
Spectrum Realty's business plan focuses on expansion of office and
industrial property investments in California, Texas and Arizona.
    Certain matters discussed in this release are forward-looking
statements that are subject to risks and uncertainties that could
cause actual results to differ materially from those projected,
including the risks and uncertainties of acquiring, owning, operating
and disposing of real estate. Such risks and uncertainties are
disclosed in the Company's past and current filings with the U.S.
Securities and Exchange Commission.

    CONTACT: American Spectrum Realty Inc., Houston
             William J. Carden, 713-706-6200