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Property

9 Months Ended

Sep. 30, 2011

Property [Abstract]

Note 9.

Property

Our property consisted of the following (in thousands):


		September 30, 2011				December 31, 2010
Land		$	916,882			$	925,497
Land held for development			126,281				170,213
Land under development			17,411				22,967
Buildings and improvements			3,541,225				3,610,889
Construction in-progress			57,202				48,228

Total		$	4,659,001			$	4,777,794

The following carrying charges were capitalized (in thousands):


		Three Months Ended September 30,								Nine Months Ended September 30,
		2011				2010				2011				2010
Interest		$	831			$	737			$	1,485			$	2,729
Real estate taxes			160				85				243				304

Total		$	991			$	822			$	1,728			$	3,033

During the nine months ended September 30, 2011, we invested $42.9 million in the acquisition of two operating properties and $14.4 million in new development projects.

During the nine months ended September 30, 2011, we sold three retail properties, two industrial properties, a retail and an industrial building and eight undeveloped land parcels with aggregate gross sales proceeds from these dispositions totaling $55.0 million. Also, 11 properties totaling $148.3 million before accumulated depreciation have been classified as held for sale as of September 30, 2011.

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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