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American Spectrum Realty, Inc. (AMEX:AQQ) (“the Company”), a real estate investment, management and leasing company headquartered in Houston, Texas, is proud to announce that it was named in this year’s Top 25 Houston Area Commercial Property Owners. The Company ranked 22 in the Houston Business Journal’s coveted survey with over 1.4 million square feet of commercial, retail, and industrial property owned in Houston.
The publication’s Commercial Real Estate Midyear Report touted the strength of the Houston real estate market, particularly in the West and North Houston submarkets where primarily all of the Company’s properties are located. “The HBJ’s endorsement on the strength of Houston commercial real estate is encouraging and reaffirms the Company’s commitment to this market,” says President and CEO William J. Carden. “American Spectrum has bought and sold many properties across the United States throughout the years, but historically Houston has been the most consistent market for us.” The Company’s inclusion in this year’s list and strength of the Houston economy solidifies some of the recent strategic decisions the Company has made, such as relocating the accounting department from California to Houston.
American Spectrum Realty, Inc. is a real estate investment company that owns, through its operating partnership, interest in office, industrial, self-storage, retail properties, and multi-family properties throughout the United States. The company has been publicly traded since 2001. American Spectrum Management Group, Inc. (“ASMG”) is a wholly-owned subsidiary of the Company that manages and leases all properties owned by American Spectrum Realty, Inc. as well as third-party clients.
ASMG provides first-class management and leasing services for office, industrial, retail, self-storage, and multi-family properties, totaling over 11 million square feet in 18 states.
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.