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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

Date of Report (Date of Earliest Event Reported):

August 9, 2011

American Assets Trust, Inc.

(Exact name of registrant as specified in its charter)

(858) 350-2600

Registrant’s telephone number, including area code:

Not Applicable

(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:

On August 9, 2011, American Assets Trust, Inc. (the “Company”) issued a press release regarding its financial results for the period ended June 30, 2011. Also on August 9, 2011, the Company made available on its website at www.americanassetstrust.com certain supplemental information concerning the Company’s financial results and operations for the period ended June 30, 2011. Copies of the press release and supplemental information are attached hereto as Exhibits 99.1 and 99.2, respectively.

Exhibits 99.1 and 99.2, are being furnished pursuant to Item 2.02 and shall not be deemed “filed” for any purpose, including for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section. Such information shall not be incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.

As discussed in Item 2.02 above, the Company issued a press release regarding its financial results for the period ended June 30, 2011 and made available on its website certain supplement information relating thereto.

The information being furnished pursuant to Item 7.01 and shall not be deemed “filed” for any purpose, including for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section. Such information shall not be incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.

The following exhibits are furnished with this Current Report on Form 8-K:

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.

August 9, 2011

EXHIBIT INDEX

Exhibit 99.1

American Assets Trust, Inc. Reports Second Quarter 2011 Financial Results

Company Release – 8/9/11

SAN DIEGO –American Assets Trust, Inc. (NYSE: AAT) (the “Company”) today reported financial results for its second quarter ended June 30, 2011.

Financial Results

During the second quarter of 2011, the Company generated funds from operations as adjusted (“FFO as adjusted”) for common stockholders and unitholders of $14.6 million or $0.26 per diluted share/unit. For the six months ended June 30, 2011, the Company generated FFO as adjusted for common stockholders and unitholders of $27.4 million or $0.53 per diluted share/unit. FFO as adjusted includes adjustments to FFO for both nonoperational items and items directly related to the Company’s initial public offering (“IPO”) on January 19, 2011.

Net income attributable to common stockholders was $0.2 million or $0.01 per basic and diluted share for the three months ended June 30, 2011. For the six months ended June 30, 2011, net loss attributable to common stockholders was $(0.5) million or $(0.01) per basic and diluted share. FFO for common stockholders was $24.4 million or $0.47 per diluted share/unit for the period January 19, 2011 to June 30, 2011. FFO for common stockholders for the three months ended June 30, 2011, was the same as FFO as adjusted for common stockholders and unitholders of $14.6 million.

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

For the second quarter 2011, same-store property operating income decreased approximately 1% on a GAAP basis compared to the second quarter 2010. The results were negatively impacted by additional accruals for property tax expense. These accruals represent the anticipated supplemental billings by the taxing authorities based on the expected reassessment of our California properties in connection with the IPO. The additional annual expense, net of revenue for amounts expected to be passed-through to

tenants, is estimated to be $1.4 million for 2011 for the entire portfolio. During the three months ended June 30, 2011, the net expense recorded on a same-store basis was approximately $0.1 million, $0.2 million and $0.3 million for the retail, office and multifamily segments, respectively, which represents the net expense for the period from IPO through June 30, 2011.

The same-store property operating income by segment, including the additional property tax expense discussed above, was as follows (in thousands):

Same-store property operating income does not include income from First & Main, which was acquired in March 2011, or from Solana Beach Town Centre, Solana Beach Corporate Centre and Waikiki Beach Walk as these properties represented noncontrolled properties that were not consolidated at June 30, 2010. Additionally, The Landmark at One Market is not included in same-store property operating income because a controlling interest in the property was not acquired until June 30, 2010 and was not included in the Company’s income for the three and six months ended June 30, 2010.

The same-store property operating income by segment, excluding the additional property tax expense discussed above, was as follows (in thousands):

Same-store retail property operating income increased for the three and six months ended June 30, 2011 reflecting the impact of increased average percentage leased, which more than offset increased property tax expenses. Our same-store office portfolio experienced lower rental rates and increased operating expenses, offset by increases in the average percentage leased for the three months ended June 30, 2011, compared to the prior year period. For the six months ended June 30, 2011, the same-store office portfolio experienced an increase in the average percentage leased, which more than offset the lower rental rates and increased operating expenses. Same-store multifamily property operating income decreased for the three and six months ended June 30, 2011, due to increased property taxes, additional rent abatements given and more marketing and maintenance expenses to attract new tenants, which ultimately led to significant increases in occupancy during the quarter and at quarter end.

The overall portfolio (including the non-same store properties) leased status as of the end of the indicated quarter was as follows:

During the second quarter of 2011, the Company signed 26 leases for approximately 125,000 square feet of retail and office space and 246 multifamily apartment leases. Renewals accounted for 67% of the comparable retail leases, 50% of the comparable office leases and 41% of the residential leases.

Retail

On a comparable space basis (i.e., leases for which there was a former tenant), the Company leased 20,260 square feet of retail space at an average cash-basis contractual rent decrease of 2% during the second quarter 2011. The average contractual rent on this comparable space for the first year of the new leases is $35.89 per square foot, compared to an average contractual rent of $36.61 per square foot for the last year of the prior leases. On a GAAP basis (including the impact of straight-line rents), average rent per square foot for the comparable retail space increased 4% for the second quarter 2011.

Office

On a comparable space basis, the Company leased 81,360 square feet of office space at an average cash-basis contractual rent decrease of 14% during the second quarter 2011. The average contractual rent on this comparable space for the first year of the new leases is $39.25 per square foot, compared to an average contractual rent of $45.54 per square foot for the last year of the prior leases. On a GAAP basis, average rent per square foot for the comparable office space decreased 1% for the second quarter 2011.

During the second quarter, a wholly owned subsidiary of the Company signed an agreement with Ancestry.com to lease 56,963 square feet of space at 160 King Street that is currently leased by DLA Piper, whose lease expires on February 28, 2012. The Ancestry.com lease has an initial term commencing on or about May 1, 2012 and expiring on or about April 30, 2019, with two five-year options to extend the lease (if properly exercised) through April 30, 2029. The base rent for the first year of the lease will be approximately $1.2 million, net of six months of rent abatements.

Multifamily

At June 30, 2011, the average monthly base rent per leased unit was $1,407 compared to an average monthly base rent per leased unit of $1,318 at March 31, 2011 and $1,358 at June 30, 2010.

Financings

On June 1, 2011, a wholly owned subsidiary of the Company closed a five-year, $84.5 million non-recourse mortgage loan secured by First & Main, an approximately 360,000 square foot, 16-story LEED Platinum certified office building located at 100 SW Main Street in Portland, Oregon. PNC Bank, National Association provided the financing, which carries a fixed interest rate per annum of 3.965% and is interest only. Proceeds of the loan were used for general corporate purposes, including working capital and future acquisitions.

Acquisitions

During the second quarter of 2011, the Company entered into an agreement to purchase the Lloyd District Portfolio, consisting of approximately 600,000 rentable square feet on more than 16 acres located in the Lloyd District of Portland, Oregon. The Lloyd District Portfolio is comprised of six office buildings within four contiguous blocks, including (i) a condominium interest in the 20-story Lloyd Tower, (ii) the 16-story Lloyd 700 Building and (iii) four low-rise landmark buildings within Oregon Square. Approximately 92% of the Lloyd District Portfolio’s rentable square feet are leased. Major tenants include Integra Telecom Holdings, Inc., Knowledge Learning Corp., PacifiCorp, the Tri-County Metropolitan Transportation District of Oregon and the Columbia River Inter-Tribal Fish Commission.

The Company completed the acquisition on July 1, 2011 for a purchase price of approximately $91.6 million. Funds required to close the acquisition were provided from the net proceeds of the Company’s IPO and were deposited into escrow on June 30, 2011.

Balance Sheet and Liquidity

At June 30, 2011, the Company had gross real estate assets of $1.6 billion and liquidity of $373.9 million comprised of cash and cash equivalents of $92.5 million, marketable securities of $31.4 million and $250 million of availability on its line of credit. The foregoing amounts do not include the $91.6 million held in escrow for the acquisition of the Lloyd District Portfolio as of June 30, 2011.

Dividends

The Company declared dividends on its shares of common stock of $0.21 per share for the second quarter of 2011. The dividends were declared on June 2, 2011 to holders of record on June 15, 2011 and were paid on June 30, 2011. Total dividends paid on shares of the Company’s common stock for the period from and including January 19, 2011 to June 30, 2011 were $0.38.

Additionally, the Company’s Board of Directors has declared a dividend on its common stock of $0.21 per share for the quarterly period ending September 30, 2011. The dividend will be paid on September 30, 2011 to stockholders of record on September 15, 2011.

Conference Call

The Company will hold a conference call to discuss the results for the second quarter 2011 on Wednesday, August 10, 2011 at 10:00 a.m. Pacific Daylight Time (“PDT”). To participate in the event by telephone, please dial 1-866-314-4865 and use the pass code 14460422. A telephonic replay of the conference call will be available beginning at 1:00 p.m. PDT on Wednesday, August 10, 2011 through Wednesday, August 24, 2011. To access the replay, dial 1-888-286-8010 and use the pass code 94414814. A live on-demand audio webcast of the conference call will be available on the Company’s website at www.americanassetstrust.com. A replay of the call will also be available on the Company’s website.

Supplemental Information

Supplemental financial information regarding the Company’s second quarter 2011 results may be found in the “Investor Relations” section of the Company’s website at www.americanassetstrust.com. This supplemental information provides additional detail on items such as property occupancy, financial performance by property and debt maturity schedules.

Financial Information

American Assets Trust, Inc.

Consolidated Balance Sheets

(In Thousands, Except Share Data)

American Assets Trust, Inc.

Consolidated Statements of Operations

(Unaudited)

(In Thousands, Except Shares and Per Share Data)

Reconciliation of Net Income to Funds From Operations and Funds From Operations As Adjusted

The Company’s FFO attributable to common stockholders and operating partnership unitholders, FFO as adjusted available to common stockholders and operating partnership unitholders and a reconciliation of both to net income is as follows (in thousands except shares and per share data):

Reported results are preliminary and not final until the filing of our Form 10-Q with the Securities and Exchange Commission and, therefore, remain subject to adjustment.

Use of Non-GAAP Information

We calculate FFO in accordance with the standards established by the National Association of Real Estate Investment Trusts, or NAREIT. FFO represents net income (loss) (computed in accordance with GAAP), excluding gains (or losses) from sales of depreciable operating property, real estate related depreciation and amortization (excluding amortization of deferred financing costs) and after adjustments for unconsolidated partnerships and joint ventures. We also present FFO as adjusted, which represents FFO adjusted for certain identified items.

FFO and FFO as adjusted are supplemental non-GAAP financial measures. Management uses FFO and FFO as adjusted as supplemental performance measures because it believes that FFO and FFO as adjusted are beneficial to investors as a starting point in measuring our operational performance. Specifically, in excluding real estate related depreciation and

amortization and gains and losses from property dispositions, which do not relate to or are not indicative of operating performance, FFO provides a performance measure that, when compared year over year, captures trends in occupancy rates, rental rates and operating costs. We also believe that, as a widely recognized measure of the performance of REITs, FFO will be used by investors as a basis to compare our operating performance with that of other REITs. However, because FFO excludes depreciation and amortization and captures neither the changes in the value of our properties that result from use or market conditions nor the level of capital expenditures and leasing commissions necessary to maintain the operating performance of our properties, all of which have real economic effects and could materially impact our results from operations, the utility of FFO as a measure of our performance is limited. In addition, other equity REITs may not calculate FFO in accordance with the NAREIT definition as we do, and, accordingly, our FFO may not be comparable to such other REITs’ FFO. FFO as adjusted reflects certain additional adjustments for items that management believes do not reflect the operational performance of our properties. Accordingly, FFO and FFO as adjusted should be considered only as supplements to net income as measures of our performance. FFO and FFO as adjusted should not be used as measures of our liquidity, nor are they indicative of funds available to fund our cash needs, including our ability to pay dividends or service indebtedness. FFO and FFO as adjusted also should not be used as a supplement to or substitute for cash flow from operating activities computed in accordance with GAAP.

About American Assets Trust, Inc.

American Assets Trust, Inc. is a full service, vertically integrated and self-administered real estate investment trust, or REIT, that owns, operates, acquires and develops high quality retail and office properties in attractive, high-barrier-to-entry markets primarily in Southern California, Northern California, Hawaii and Oregon. The Company was formed to succeed to the real estate business of American Assets, Inc., a privately held corporation founded in 1967 and, as such, has significant experience, long-standing relationships and extensive knowledge of its core markets, submarkets and asset classes. The Company’s retail portfolio comprises approximately 3.0 million rentable square feet, and its office portfolio comprises approximately 2.4 million square feet. In addition the company owns one mixed-use property (including approximately 97,000 rentable square feet of retail space and a 369-room all-suite hotel) and over 900 multifamily units. The Company intends to elect to be treated as a real estate investment trust, or REIT, for U.S. federal income tax purposes, commencing with the taxable year ending December 31, 2011. For additional information, visit www.americanassetstrust.com.

Forward Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. While forward-looking statements reflect the Company’s good faith beliefs, assumptions and expectations, they are not guarantees of future performance. For a further discussion of these and other factors that could cause the Company’s future results to differ materially from any forward-looking statements, see the section entitled “Risk Factors” in the Company’s annual report on Form 10-K filed

on March 30, 2011, and other risks described in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes.

Source: American Assets Trust, Inc.

Investor and Media Contact:

American Assets Trust

Robert F. Barton

Executive Vice President and Chief Financial Officer

858-350-2607

SECOND QUARTER 2011 Supplemental Information Investor and Media Contact: American Assets Trust Robert F. Barton Executive Vice President and Chief Financial Officer 858-350-2607 Exhibit 99.2

Second Quarter 2011 Supplemental Information Page 2 AAT’s portfolio is concentrated in high-barrier-to-entry markets with favorable supply/demand characteristics Market Property Type No. of Properties Square Feet/Units San Diego Retail Office Multifamily 6 2 4 1,217,634 668,772 922 units (1) San Francisco Office 2 589,920 Oahu Retail Mixed-Use 2 1 549,695 96,569 (retail)/369 suites Monterey Retail 1 674,224 Los Angeles Office 1 194,268 San Antonio Retail 1 589,479 Portland Office 1 363,763 (2) Note: Circled areas represent all markets in which the Company currently owns and operates its real estate assets.  Circle size denotes square feet / units. Square Feet % Retail 3.0 million 63% Office 1.8 million 37% Totals 4.8 million (1) Includes 122 RV spaces. (2) On July 1, 2011, the Company completed the acquisition of the Lloyd District Portfolio, which added an additional office property consisting of approximately 600,000 rentable square feet in Portland, Oregon. Such acquisition is not reflected in the map above.

Second Quarter 2011 Supplemental Information Page 3   PAGE 1. SECOND QUARTER 2011 EARNINGS PRESS RELEASE   2. FINANCIAL HIGHLIGHTS                                   Consolidated Balance Sheets 5 Consolidated Statements of Operations   7 Funds From Operations (FFO), FFO As Adjusted & Funds Available For Distribution 8 Same-Store Portfolio Net Operating Income (NOI) 10 Same-Store Portfolio NOI Comparison 12 NOI By Region 13 NOI Breakdown 14 Property Revenue and Operating Expenses 15 Segment Capital Expenditures 17 Summary of Outstanding Debt 18 Market Capitalization 19 Summary of Redevelopment Opportunities 20 3. PORTFOLIO DATA Property Report 22 Retail Leasing Summary 24 Office Leasing Summary 25     Lease Expirations 26 Portfolio Leased Statistics 28 Top Tenants – Retail 29 Top Tenants – Office 30 4. APPENDIX Glossary of Terms 32 INDEX This Supplemental Information contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (set forth in Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act). Forward-looking statements involve numerous risks and uncertainties and you should not rely on them as predictions of future events. Forward-looking statements depend on assumptions, data or methods which may be incorrect or imprecise and we may not be able to realize them. We do not guarantee that the transactions and events described will happen as described (or that they will happen at all). The following factors, among others, could cause actual results and future events to differ materially from those set forth or contemplated in the forward-looking statements: adverse economic or real estate developments in our markets; our failure to generate sufficient cash flows to service our outstanding indebtedness; defaults on, early terminations of or non-renewal of leases by tenants, including significant tenants; difficulties in identifying properties to acquire and completing acquisitions; our failure to successfully operate acquired properties and operations; fluctuations in interest rates and increased operating costs; risks related to joint venture arrangements; our failure to obtain necessary outside financing; on-going litigation; general economic conditions; financial market fluctuations; risks that affect the general retail environment; the competitive environment in which we operate; decreased rental rates or increased vacancy rates; conflicts of interests with our officers or directors; lack or insufficient amounts of insurance; environmental uncertainties and risks related to adverse weather conditions and natural disasters; other factors affecting the real estate industry generally; limitations imposed on our business and our ability to satisfy complex rules in order for us to continue to qualify as a REIT for U.S. federal income tax purposes; and changes in governmental regulations or interpretations thereof, such as real estate and zoning laws and increases in real property tax rates and taxation of REITs. While forward-looking statements reflect our good faith beliefs, they are not guarantees of future performance. We disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, or new information, data or methods, future events or other changes. For a further discussion of these and other factors that could impact our future results, refer to our Annual Report on Form 10-K filed and other risks described in documents subsequently filed by us from time to time with the Securities and Exchange Commission.

Second Quarter 2011 Supplemental Information FINANCIAL HIGHLIGHTS

Page 5 CONSOLIDATED BALANCE SHEETS Assets Real estate, at cost    Operating real estate $ 1,633,287 $ 1,156,091    Construction in progress 1,144 925    Held for development 8,756 8,081 1,643,187 1,165,097    Accumulated depreciation (240,603) (221,997) Net real estate 1,402,584 943,100 Cash and cash equivalents 92,535 41,953 Restricted cash 8,077 4,729 Marketable securities 31,445 -            Accounts receivable, net 4,944 1,573 Deferred rent receivables, net 21,665 20,051 Notes receivable from affiliate -            21,769       Investment in real estate joint ventures -            39,816       Prepaid expenses and other assets 69,915       44,366       Purchase deposit 91,600 -            Total assets $ 1,722,765 $ 1,117,357 June 30, December 31, 2011 2010 (Amounts in thousands, except share data) Second Quarter 2011 Supplemental Information

Second Quarter 2011 Supplemental Information Page 6 Liabilities and equity Liabilities: Secured notes payable $ 944,279     $ 851,547     Unsecured notes payable -            38,013       Notes payable to affiliates -            5,266         Accounts payable and accrued expenses 20,007       11,644       Security deposits payable 4,302         2,648         Other liabilities and deferred credits 56,922       39,058       Distributions in excess of earnings on real estate joint ventures -            14,060       Total liabilities 1,025,510 962,236     Commitments and contingencies Equity: Owners' equity -            121,874     American Assets Trust, Inc. stockholders' equity Common stock $0.01 par value, 490,000,000 authorized, 39,281,839 outstanding at June 30, 2011 393           -            Additional paid-in capital 652,220     -            Accumulated deficit (15,168)      -            Total American Assets Trust, Inc. stockholders' equity 637,445     -            Noncontrolling interests Owners in consolidated real estate entities -            33,247       Unitholders in the Operating Partnership 59,810       -            59,810       33,247       Total equity 697,255     155,121     Total liabilities and equity $ 1,722,765 $ 1,117,357 June 30, December 31, 2011 2010 CONSOLIDATED BALANCE SHEETS (CONTINUED) (Amounts in thousands, except share data)

Second Quarter 2011 Supplemental Information Page 7 CONSOLIDATED STATEMENTS OF OPERATIONS June 30, June 30, Revenue: Rental income $ 49,794   $ 28,414   $ 95,913    $ 56,509   Other property income 2,485     873       4,402      1,710             Total revenue 52,279   29,287   100,315 58,219   Expenses: Rental expenses 14,572   4,870     27,039    9,864     Real estate taxes 5,617     2,992     9,666      5,948     General and administrative 3,825     1,821     7,064      3,408     Depreciation and amortization 14,277   7,509     26,767    14,739           Total operating expenses 38,291   17,192   70,536    33,959   Operating income 13,988   12,095   29,779    24,260   Interest expense (14,063) (10,624) (27,142)   (21,278) Early extinguishment of debt -        -        (25,867)   -        Loan transfer and consent fees -        -        (9,019)     -        Gain on acquisition -        4,297     46,371    4,297     Other income (expense), net 530       71         (71)         (916)      Net income 455       5,839     14,051    6,363     Net income attributable to restricted shares (132)      -        (218)       -        Net loss attributable to Predecessor's noncontrolling interests in consolidated real      estate entities -        469       2,458      899       Net income attributable to Predecessor's controlled owners' equity -        (6,308)    (16,995)   (7,262)    Net (income) loss attributable to unitholders in the Operating Partnership (104)      -        225        -        Net income (loss) attributable to American Assets Trust, Inc. stockholders $ 219       $ -        $ (479)       $ -        Net income (loss) attributable to common stockholders per share - basic $ 0.01      $ (0.01)      Net income (loss) attributable to common stockholders per share - diluted $ 0.01      $ (0.01)      Weighted average shares of common stock outstanding - basic Weighted average shares of common stock outstanding - diluted Dividends declared per common share $ 0.21      $ 0.38       38,655,084      34,810,932      57,051,173      34,810,932      Three Months Ended Six Months Ended 2011 2010 2011 2010 (Amounts in thousands, except share and per share data)

Second Quarter 2011 Supplemental Information Page 8 FUNDS FROM OPERATIONS, FFO AS ADJUSTED & FUNDS AVAILABLE FOR DISTRIBUTION (Amounts in thousands, except share and per share data)

Page 9 FUNDS FROM OPERATIONS & FUNDS AVAILABLE FOR DISTRIBUTION (CONTINUED) (Amounts in thousands, except shares and per share data) (1) (4) (5) (6) Second Quarter 2011 Supplemental Information   FFO as adjusted $ 14,732 $ 30,021 Adjustments: Tenant improvements, leasing commissions and maintenance capital expenditures (2,046) (3,491) Net effect of straight-line rents (1,111) (1,465) Amortization of net above (below) market rents 386 781 Net effect of other lease intangibles 266 536 Amortization of debt issuance costs and debt fair value adjustment 1,030 1,895 Non-cash compensation expense 699 1,190 Unrealized gains on marketable securities (318) (53) Nonforfeitable dividends on incentive stock awards (89) (139) FAD $ 13,549 $ 29,275 Summary of Capital Expenditures Tenant improvements and leasing commissions $ 1,684 $ 2,832 Maintenance capital expenditures 362 659 $ 2,046 $ 3,491 June 30, 2011 June 30, 2011 Three Months Ended Six Months Ended    Notes: (1) See Glossary of Terms. (2) For the three and six months ended June 30, 2011, the weighted average common shares and units used to compute FFO and FFO as adjusted per diluted share/unit include operating  partnership units and unvested restricted stock awards that are subject to time vesting.  The shares/units used to compute FFO and FFO as adjusted per diluted share/unit include  additional shares/units which were excluded from the computation of diluted EPS, as they were anti-dilutive for the periods presented.  For the six months ended June 30, 2011,  the weighted average shares and units outstanding have been weighted for the full six months, not the date of our initial public offering. (3) Represents the gain recognized upon acquisition of the outside ownership interests in the Solana Beach Centre entities and the Waikiki Beach Walk entities on January 19, 2011, in  which we previously held a noncontrolling interest. (4) Represents the straight-line rent income recognized during the period offset by cash received during the period and the provision for bad debts recorded for deferred rent receivable  balances.  (5) Represents the adjustment related to the acquisition of buildings with above (below ) market rents. (6) Represents adjustments related to amortization of lease incentives paid to tenants and amortization of lease intangibles and straight-line rent expense for our leases of the Annex at  The Landmark at One Market and retail space at Waikiki Beach Walk - Retail. (7) Computations of per share amounts are made independently for the three and six months ended June 30, 2011.  Therefore, the sum of per share amounts from the three months ended  June 30 and March 31, 2011 may not agree with the per share amounts for the six months ended June 30, 2011. Funds Available for Distribution (FAD)

Second Quarter 2011 Supplemental Information Page 10 SAME-STORE PORTFOLIO NET OPERATING INCOME (NOI) Notes: (1)   Same-store portfolio and non-same store portfolio are determined based on properties held on June 30, 2011 and 2010.  See Glossary of Terms. (2)   Represents the straight-line rent income recognized during the period offset by cash received during the period and the provision for bad debts recorded for deferred rent receivable balances. (3)   Represents the adjustment related to the acquisition of buildings with above (below) market rents. (4)   Represents adjustments related to amortization of lease incentives paid to tenants.

Second Quarter 2011 Supplemental Information Page 11 SAME-STORE PORTFOLIO NET OPERATING INCOME (NOI) Real estate rental revenue Same-store portfolio $ 39,865 $ 13,203 $ 6,785    $ -       $ 59,853   Non-same store portfolio 3,564    16,561 -       20,337 40,462   Total 43,429 29,764 6,785    20,337 100,315 Real estate expenses Same-store portfolio 10,781 3,933    2,587    -       17,301   Non-same store portfolio 671       5,649    -       13,084 19,404   Total 11,452 9,582    2,587    13,084 36,705   Net Operating Income (NOI), GAAP basis Same-store portfolio 29,084 9,270    4,198    -       42,552   Non-same store portfolio 2,893    10,912 -       7,253 21,058   Total $ 31,977 $ 20,182 $ 4,198    $ 7,253    $ 63,610   Same-store portfolio NOI, GAAP basis $ 29,084 $ 9,270    $ 4,198    $ -       $ 42,552   Net effect of straight-line rents 311       (148)      -       -       163        Amortization of net above (below) market rents (357)      686       -       -       329        Net effect of other lease intangibles -       185       -       -       185        Same-store portfolio NOI, cash basis $ 29,038 $ 9,993    $ 4,198    $ -       $ 43,229   Notes: (1) (2) (3) Represents the adjustment related to the acquisition of buildings with above (below) market rents. (4) Same-store portfolio and non-same store portfolio are determined based on properties held on June 30, 2011 and 2010.  See Glossary of Terms. Represents the straight-line rent income recognized during the period offset by cash received during the period and the provision for bad debts recorded for deferred rent receivable balances. Represents adjustments related to amortization of lease incentives paid to tenants. Six Months Ended June 30, 2011 Retail Office Multifamily Mixed-Use Total (Amounts in thousands) (1) (1) (1) (2) (4) (3)

Second Quarter 2011 Supplemental Information Page 12 SAME-STORE PORTFOLIO NOI COMPARISON Cash Basis: Retail $ 14,499 $ 14,189 2.2          % Office 4,984    5,095    (2.2)         Multifamily 2,066    2,410    (14.3)       Mixed-Use -       -       -          $ 21,549 $ 21,694 (0.7)         % GAAP Basis: Retail $ 14,509 $ 14,146 2.6          % Office 4,520    4,822    (6.3)         Multifamily 2,066    2,411    (14.3)       Mixed-Use -       -       -          $ 21,095 $ 21,379 (1.3)         % Cash Basis: Retail $ 29,038 $ 28,165 3.1          % Office 9,993    9,708    2.9          Multifamily 4,198    4,891    (14.2)       Mixed-Use -       -       -          $ 43,229 $ 42,764 1.1          % GAAP Basis: Retail $ 29,084 $ 28,242 3.0          % Office 9,270    9,192    0.8          Multifamily 4,198    4,891    (14.2)       Mixed-Use -       -       -          $ 42,552 $ 42,325 0.5          % Six Months Ended June 30, 2011 2010 Change 2011 2010 Change Three Months Ended June 30, (Amounts in thousands)

Second Quarter 2011 Supplemental Information Page 13 NOI BY REGION Southern California NOI, GAAP basis (1) $ 6,517 $ 4,521 $ 2,066 $ - $ 13,104 Net effect of straight-line rents (2) (85) (71) - - (156) Amortization of net above (below) market rents (3) (140) 122 - - (18) Net effect of other lease intangibles (4) - 92 - - 92 NOI, cash basis 6,292 4,664 2,066 - 13,022 Northern California NOI, GAAP basis (1) 2,210 3,457 - - 5,667 Net effect of straight-line rents (2) (50) (652) - - (702) Amortization of net above (below) market rents (3) (67) 399 - - 332 Net effect of other lease intangibles (4) - 184 - - 184 NOI, cash basis 2,093 3,388 - - 5,481 Hawaii NOI, GAAP basis (1) 4,462 - - 4,131 8,593 Net effect of straight-line rents (2) 126 - - (114) 12 Amortization of net above (below) market rents (3) (68) - - 220 152 Net effect of other lease intangibles (4) - - - (10) (10) NOI, cash basis 4,520 - - 4,227 8,747 Oregon NOI, GAAP basis (1) - 1,845 - - 1,845 Net effect of straight-line rents (2) - (344) - - (344) Amortization of net above (below) market rents (3) - (22) - - (22) Net effect of other lease intangibles (4) - - - - - NOI, cash basis - 1,479 - - 1,479 Texas NOI, GAAP basis (1) 2,881 - - - 2,881 Net effect of straight-line rents (2) 79 - - - 79 Amortization of net above (below) market rents (3) (58) - - - (58) Net effect of other lease intangibles (4) - - - - - NOI, cash basis 2,902 - - - 2,902 Total NOI, GAAP basis (1) 16,070 9,823 2,066 4,131 32,090 Net effect of straight-line rents (2) 70 (1,067) - (114) (1,111) Amortization of net above (below) market rents (3) (333) 499 - 220 386 Net effect of other lease intangibles (4) - 276 - (10) 266 NOI, cash basis $ 15,807 $ 9,531 $ 2,066 $ 4,227 $ 31,631 Notes: Three Months Ended June 30, 2011 Retail Office Multifamily Mixed-Use Total (Amounts in thousands) (1) See Glossary of Terms. (2) Represents the straight-line rent income recognized during the period offset by cash received during the period and the provision for bad debts recorded for deferred rent receivable balances. (3) Represents the adjustment related to the acquisition of buildings with above (below) market rents. (4) Represents adjustments related to amortization of lease incentives paid to tenants and amortization of lease intangibles and straight-line rent expense for our leases of the Annex at The Landmark at One Market and retail space at Waikiki Beach Walk - Retail.

Second Quarter 2011 Supplemental Information Page 14 NOI BREAKDOWN Portfolio Cash NOI Breakdown Portfolio GAAP NOI Breakdown Portfolio Diversification by Geographic Region Portfolio Diversification by Segment Portfolio Diversification by Geographic Region Portfolio Diversification by Segment Southern California 41% Northern California 17% Hawaii 28% Oregon 5% Texas 9% Retail 50% Office 30% Multifamily 7% Mixed-Use 13% Southern California 41% Northern California 17% Hawaii 27% Oregon 6% Texas 9% Retail 50% Office 31% Multifamily 6% Mixed-Use 13%

Second Quarter 2011 Supplemental Information Page 15 PROPERTY REVENUE AND OPERATING EXPENSES Retail Portfolio Carmel Country Plaza $ 1,744    $ 42        $ 384       $ (361)        Carmel Mountain Plaza 4,429    113       1,278    (1,433)      South Bay Marketplace 1,024    23        316       (374)        Rancho Carmel Plaza 360       36        97        (120)        Lomas Santa Fe Plaza 2,592    76        514       (650)        Solana Beach Towne Centre 2,656    36        732       (698)        Del Monte Center 4,088    423       1,695    (2,059)      The Shops at Kalakaua 769       40        79        (134)        Waikele Center 8,401    628       2,075    (2,756)      Alamo Quarry Market 5,944    124       2,565    (2,891)      Subtotal Retail Portfolio $ 32,007   $ 1,541    $ 9,735    $ (11,476)    Office Portfolio Torrey Reserve Campus $ 7,378    $ 295       $ 252       $ (1,814)      Solana Beach Corporate Centre 3,043    15        61        (756)        Valencia Corporate Center 2,239    1          19        (755)        160 King Street 2,722    663       522       (1,205)      The Landmark at One Market 9,820    123       449       (3,566)      First & Main 3,233    54        -       (984)        Subtotal Office Portfolio $ 28,435   $ 1,151    $ 1,303    $ (9,080)      Multifamily Portfolio Loma Palisades $ 4,784    $ 334       $ -       $ (1,763)      Imperial Beach Gardens 1,189    83        -       (402)        Mariner's Point 551       50        -       (208)        Santa Fe Park RV Resort 372       30        -       (214)        Subtotal Multifamily Portfolio $ 6,896    $ 497       $ -       $ (2,587)      Expenses   Property Base Rent Income Reimbursements Six Months Ended June 30, 2011 Additional Property Property Billed Expense Operating (Amounts in thousands) (5) (5) (6) (7) (8) (9) (10) (1) (2) (3) (4)

Second Quarter 2011 Supplemental Information Page 16 PROPERTY REVENUE AND OPERATING EXPENSES (CONTINUED) (Amounts in thousands)

Second Quarter 2011 Supplemental Information Page 17 SEGMENT CAPITAL EXPENDITURES Retail Portfolio $ 280       $ 203       $ 483        $ 12        $ -       $ 495        Office Portfolio 1,404    41        1,445      -       87        1,532      Multifamily Portfolio -       83        83          -       -       83          Mixed-Use Portfolio -       35        35          -       -       35          Total $ 1,684    $ 362       $ 2,046      $ 12        $ 87        $ 2,145      Retail Portfolio $ 658       $ 277       $ 935        $ 12        $ -       $ 947        Office Portfolio 2,174    115       2,289      -       182       2,471      Multifamily Portfolio -       137       137        -       -       137        Mixed-Use Portfolio -       130       130        -       -       130        Total $ 2,832    $ 659       $ 3,491      $ 12        $ 182       $ 3,685      Total Capital Expenditures Segment Tenant Improvements and Leasing Commissions Maintenance Capital Expenditures Total Capital Expenditures Segment Tenant Improvements and Leasing Commissions Maintenance Capital Expenditures Redevelopment and Expansions New Development Redevelopment and Expansions New Development Total Tenant Improvements, Leasing Commissions and Maintenance Expenditures Total Tenant Improvements, Leasing Commissions and Maintenance Expenditures Three Months Ended June 30, 2011 Six Months Ended June 30, 2011 (Amounts in thousands)

Second Quarter 2011 Supplemental Information Page 18 Maturity Date Alamo Quarry Market (1)(2) $ 97,026    5.67                     % $ 7,567      January 8, 2014 $ 91,717    160 King Street (3) 32,182    5.68                     3,350      May 1, 2014 27,513    Waikele Center (4) 140,700   5.15                     7,360      November 1, 2014 140,700 The Shops at Kalakaua (4) 19,000    5.45                     1,053      May 1, 2015 19,000    The Landmark at One Market (2)(4) 133,000   5.61                     7,558      July 5, 2015 133,000 Del Monte Center (4) 82,300    4.93                     4,121      July 8, 2015 82,300    First & Main (4) 84,500    3.97                     3,397      July 1, 2016 84,500    Imperial Beach Gardens (4) 20,000    6.16                     1,250      September 1, 2016 20,000    Mariner's Point (4) 7,700      6.09                     476         September 1, 2016 7,700      South Bay Marketplace (4) 23,000    5.48                     1,281      February 10, 2017 23,000    Waikiki Beach Walk - Retail (4) 130,310   5.39                     7,020      July 1, 2017 130,310 Solana Beach Corporate Centre III-IV (5) 37,330    6.39                     2,418      August 1, 2017 35,136    Loma Palisades (4) 73,744    6.09                     4,553      July 1, 2018 73,744    Torrey Reserve - North Court (1) 22,046    7.22                     1,836      June 1, 2019 19,443    Torrey Reserve - VCI, VCII, VCIII (1) 7,421      6.36                     560         June 1, 2020 6,439      Solana Beach Corporate Centre I-II (1) 11,860    5.91                     855         June 1, 2020 10,169    Solana  Beach Towne Centre (1) 39,533    5.91                     2,849      June 1, 2020 33,898    Total / Weighted Average $ 961,652   5.45                     % $ 57,504    $ 938,569 Unamortized fair value adjustment (17,373)   Debt Balance $ 944,279   Fixed Rate Debt Ratio Fixed rate debt 100% Variable rate debt -          Notes: (1) Principal payments based on a 30-year amortization schedule. (2) Maturity date is the earlier of the loan maturity date under the loan agreement, or the "Anticipated Repayment Date" as specifically defined in the loan agreement, which is the date after which substantial economic penalties apply if the loan has not been paid off. (3) Principal payments based on a 20-year amortization schedule. (4) Interest only. (5) Loan is interest only through August 2012.  Beginning in September 2012, principal payments are based on a 30-year amortization schedule. Balance at Debt June 30, 2011 Interest Rate Service Maturity Amount Outstanding at Annual Debt SUMMARY OF OUTSTANDING DEBT (Amounts in thousands)

Second Quarter 2011 Supplemental Information Page 19 MARKET CAPITALIZATION

Second Quarter 2011 Supplemental Information Page 20 SUMMARY OF REDEVELOPMENT OPPORTUNITIES Potential Future Development/Redevelopment Pipeline Property Location Opportunity Solana Beach Corporate Centre (Building 5) Solana Beach, CA $ 5,800    $ -       Lomas Santa Fe Plaza Expansion Solana Beach, CA 17,000 -       Torrey Reserve Phase III San Diego, CA 17,200 -       Torrey Reserve Phase IV San Diego, CA 17,000 -       Sorrento Pointe San Diego, CA 30,300 -       Solana Beach Towne Centre II Solana Beach, CA 1,000    12        Total $ 88,300 $ 12        Complete the facade improvements to the Solana Beach Towne Centre. to Date Construction of a new 10,300 square foot building and structured parking for retail/restaurant use oriented toward the Solana Beach Towne Centre. Expansion of 30,700 square feet and the renovation of 14,787 square feet for a combined project of 45,487 square feet, plus structured parking. Construction of three additional commercial buildings (retail, restaurant, office and medical) for a total of 41,692 square feet, and a 34,603 square foot underground parking structure. Estimated Cost Construction Cost Construction of two 20,000 square foot commercial buildings (restaurant and office) for a total of 40,000 square feet atop subterranean parking. Construction of two class "A" office buildings for a total of 79,053 square feet with subterranean parking. (Dollar amounts in thousands) Note: The Lloyd District Portfolio development pipeline is not included as the property was not acquired until July 1, 2011.

Second Quarter 2011 Supplemental Information PORTFOLIO DATA

Second Quarter 2011 Supplemental Information Page 22 PROPERTY REPORT As of June 30, 2011 Net Number Rentable Year Built/ of Square Location Renovated Buildings Feet (1) Retail Properties Carmel Country Plaza San Diego, CA 1991 9 77,813 100.0 % $ 3,515,846 $ 45.18 Sharp Healthcare, Frazee Industries Inc. Carmel Mountain Plaza (7) San Diego, CA 1994 13 520,228 82.9 8,686,016 20.14 Sears Sports Authority, Reading Cinemas South Bay Marketplace (7) San Diego, CA 1997 9 132,873 100.0 2,067,796 15.56 Office Depot Inc., Ross Dress for Less Rancho Carmel Plaza San Diego, CA 1993 3 30,421 74.5 713,589 31.47 Oggi's Pizza & Brewing Co., Sprint PCS Assets Lomas Santa Fe Plaza Solana Beach, CA 1972/1997 9 209,569 97.6 5,257,257 25.71 Vons, Ross Dress for Less Del Monte Center (7) Monterey, CA 1967/1984/2006 16 674,224 97.2 8,789,864 13.41 Macy's, KLA Monterey Century Theatres, Macy's Furniture Gallery The Shops at Kalakaua Honolulu, HI 1971/2006 3 11,671 100.0 1,535,028 131.52 Whalers General Store, Diesel U.S.A. Inc. Waikele Center Waipahu, HI 1993/2008 9 538,024 90.9 17,014,540 34.81 Old Navy, Officemax Alamo Quarry Market (7) San Antonio, TX 1997/1999 16 589,479 98.9 11,808,839 20.26 Regal Cinemas Bed Bath & Beyond, Whole Foods Market Subtotal/Weighted Average Retail Portfolio 87 2,784,302 93.7 % $ 59,388,775 $ 22.77 Office Properties Torrey Reserve Campus San Diego, CA 1996-2000 9 456,801 93.1 % $ 14,795,889 $ 34.78 Valencia Corporate Center Santa Clarita, CA 1999-2007 3 194,268 80.9 4,493,083 28.58 160 King Street San Francisco, CA 2002 1 167,986 95.2 5,467,207 34.18 Subtotal/Weighted Average Office Portfolio 13 819,055 90.7 % $ 24,756,179 $ 33.34 Total/Weighted Average Retail and Office Portfolio 100 3,603,357 93.0 % $ 84,144,954 $ 25.11 Number Year Built/ of Location Renovated Buildings Units Loma Palisades San Diego, CA 1958/2001-2008 80 548 100.0 % $ 10,392,072 $ 1,580 Imperial Beach Gardens Imperial Beach, CA 1959/2008-present 26 160 96.9 2,674,296 1,437 Mariner's Point Imperial Beach, CA 1986 8 88 98.9 1,173,900 1,124 Santa Fe Park RV Resort (8) San Diego, CA 1971/2007-2008 1 126 88.0 968,388 728 Total/Weighted Average Multifamily Portfolio 115 922 97.7 % $ 15,208,656 $ 1,407 Net Number Rentable Year Built/ of Square Location Renovated Buildings Feet (1) Retail Property Solana Beach Towne Centre Solana Beach, CA 1973/2000/2004 12 246,730 97.7 % $ 5,306,176 $ 22.01 Dixieline Probuild, Marshalls Office Properties Solana Beach Corporate Centre Solana Beach, CA 1982/2005 4 211,971 84.1 $ 5,691,424 $ 31.94 The Landmark at One Market (9) San Francisco, CA 1917/2000 1 421,934 100.0 18,289,232 43.35 First & Main Portland, OR 2010 1 363,763 96.5 10,548,509 30.04 Subtotal/Weighted Average Office Portfolio 6 997,668 95.4 % $ 34,529,165 $ 36.30 Total/Weighted Average Retail and Office Portfolio 18 1,244,398 95.8 % $ 39,835,341 $ 33.41 Lowe's, Kmart, Sports Authority, Foodland Super Martket Square Foot (4) Property Leased (2) Base Rent (3) Leased Unit (4) Non - Same Store Retail and Office Portfolios Same - Store Multifamily Portfolio Average Monthly Percentage Annualized Base Rent per Same - Store Retail and Office Portfolios Annualized Base Rent Retail Anchor Tenant(s) (5) Other Principal Retail Tenants (6) Percentage Annualized per Leased Property Leased (2) Base Rent (3) Square Foot (4) Annualized Base Rent Property Retail Anchor Tenant(s) (5) Other Principal Retail Tenants (6) Percentage Annualized per Leased Leased (2) Base Rent (3)

Second Quarter 2011 Supplemental Information Page 23 PROPERTY REPORT (CONTINUED) Net Number Rentable Year Built/ of Square Location Renovated Buildings Feet (1) Waikiki Beach Walk - Retail Honolulu, HI 2006 3 96,569 97.6             % $ 9,388,624   $ 99.57    Yardhouse, Ruths Chris Number Year Built/ of Location Renovated Buildings Units Waikiki Beach Walk - Embassy Suites™ Honolulu, HI 2008 2 369 87.3             % $ 233.94        $ 204.23 Notes: (1) (2) (3) (4) (5) Retail anchor tenants are defined as retail tenants leasing 50,000 square feet or more. (6) Other principal retail tenants are defined as the two tenants leasing the most square footage, excluding anchor tenants. (7) Net rentable square feet at certain of our retail properties includes pad sites leased pursuant to the ground leases in the following table: Square Footage Aggregate Number of Leased Pursuant Annualized Property Ground Leases to Ground Leases Base Rent Carmel Mountain Plaza 6 127,112                        1,020,900 $     South Bay Marketplace 1 2,824                            81,540 $          Del Monte Center 2 295,100                        201,291 $        Alamo Quarry Market 4 31,994                          428,250 $        (8) (9) (10) The Santa Fe Park RV Resort is subject to seasonal variation, with higher rates of occupancy occurring during the summer months. During the 12 months ended June 30, 2011, the highest average monthly occupancy rate for this property was 98.0%, occurring in July 2010, and the lowest average monthly occupancy rate for this property was 60.0%, occurring in November 2010. The number of units at the Santa Fe Park RV Resort includes 122 RV spaces and four apartments. This property contains 421,934 net rentable square feet consisting of The Landmark at One Market (377,714 net rentable square feet) as well as a separate long-term leasehold interest in approximately 44,220 net rentable square feet of space located in an adjacent six-story leasehold known as the Annex. We currently lease the Annex from an affiliate of the Paramount Group pursuant to a long-term master lease effective through June 30, 2016, which we have the option to extend until 2031 pursuant to three five-year extension options. Average occupancy represents the percentage of available units that were sold during the 6-month period ended June 30, 2011, and is calculated by dividing the number of units sold by the product of the total number of units and the total number of days in the period. Average daily rate represents the average rate paid for the units sold and is calculated by dividing the total room revenue (i.e., excluding food and beverage revenues or other hotel operations revenues such as telephone, parking and other guest services) for the 6-month period ended June 30, 2011, by the number of units sold. Revenue per available room, or RevPAR, represents the total unit revenue per total available units for the 6-month period ended June 30, 2011 and is calculated by multiplying average occupancy by the average daily rate. RevPAR does not include food and beverage revenues or other hotel operations revenues such as telephone, parking and other guest services. Hotel Portion Occupancy (10) Daily Rate (10) Room (10) The net rentable square feet for each of our retail properties and the retail portion of our mixed-use property is the sum of (1) the square footages of existing leases, plus (2) for available space, the field-verified square footage. The net rentable square feet for each of our office properties is the sum of (1) the square footages of existing leases, plus (2) for available space, management’s estimate of net rentable square feet based, in part, on past leases. The net rentable square feet included in such office leases is generally determined consistently with the Building Owners and Managers Association, or BOMA, 1996 measurement guidelines. Percentage leased for each of our retail and office properties and the retail portion of the mixed-use property includes square footage under leases as of June 30, 2011, including leases which may not have commenced as of June 30, 2011. Percentage leased for our multifamily properties includes total units rented as of June 30, 2011. Annualized base rent is calculated by multiplying base rental payments (defined as cash base rents (before abatements)) for the month ended June 30, 2011, by 12. In the case of triple net or modified gross leases, annualized base rent does not include tenant reimbursements for real estate taxes, insurance, common area or other operating expenses. Annualized base rent per leased square foot is calculated by dividing annualized base rent, by square footage under lease as of June 30, 2011. Annualized base rent per leased unit is calculated by dividing annualized base rent, by units under lease as of June 30, 2011. Non - Same Store Mixed-Use Portfolio Annualized Base Rent Retail Anchor Tenant(s) (5) Other Principal Retail Tenants (6) Percentage Annualized per Leased Retail Portion Leased (2) Base Rent (3) Square Foot (4) Annualized Revenue per Average Average Available As of June 30, 2011

Second Quarter 2011 Supplemental Information Page 24 RETAIL LEASING SUMMARY As of June 30, 2011

Second Quarter 2011 Supplemental Information Page 25 OFFICE LEASING SUMMARY As of June 30, 2011 Total Lease Summary - Comparable (1) Number of Quarter Leases Signed Lease Term (4) 2nd Quarter 2011 6 100 % 81,360 $ 39.25 $ 45.54 $ (512,187) (13.8) % (0.9) % 5.8 $ 231,839 $ 2.85 1st Quarter 2011 10 100 31,298 32.88 37.54 (145,946) (12.4) (2.3) 2.5 57,520 1.84 Total 6 months 16 100 % 112,658 $ 37.48 $ 43.32 $ (658,133) (13.5) % (1.2) % 4.9 $ 289,359 $ 2.57 New Lease Summary - Comparable (1) Number of Quarter Leases Signed Lease Term (4) 2nd Quarter 2011 3 50 % 68,085 $ 40.69 $ 46.47 $ (393,958) (12.5) % 1.1 % 6.5 $ 212,691 $ 3.12 1st Quarter 2011 2 20 5,066 33.90 42.78 (44,982) (20.8) (14.0) 4.2 5,938 1.17 Total 6 months 5 31 % 73,151 $ 40.22 $ 46.22 $ (438,940) (13.0) % 0.1 % 6.4 $ 218,629 $ 2.99 Renewal Lease Summary - Comparable (1)(5) Number of Quarter Leases Signed Lease Term (4) 2nd Quarter 2011 3 50 % 13,275 $ 31.86 $ 40.76 $ (118,229) (21.8) % (12.8) % 1.7 $ 19,149 $ 1.44 1st Quarter 2011 8 80 26,232 32.68 36.53 (100,964) (10.5) 0.5 2.2 51,582 1.97 Total 6 months 11 69 % 39,507 $ 32.40 $ 37.95 $ (219,193) (14.6) % (4.3) % 2.0 $ 70,731 $ 1.79 Total Lease Summary - Comparable and Non-Comparable Number of Quarter Leases Signed Signed 2nd Quarter 2011 9 94,851 $ 38.25 5.8 $ 711,785 $ 7.50 1st Quarter 2011 14 43,502 32.44 2.7 141,420 3.25 Total 6 months 23 138,353 $ 36.42 4.8 $ 853,205 $ 6.17 (1) Comparable leases represent those leases signed on spaces for which there was a previous lease. (2) Contractual rent represents contractual minimum rent under the new lease for the first twelve months of the term. (3) Prior rent represents the minimum rent paid under the previous lease in the final twelve months of the term. (4) Weighted average is calculated on the basis of square footage. (5) Excludes renewals at fixed contractual rates specified in the lease. Tenant Net Rentable Contractual Annual Change Cash Basis Straight-Line Weighted Average Tenant Improvements Improvements & Incentives Basis % Change Leases Signed Signed Per Sq. Ft. (2) Per Sq. Ft. (3) in Rent % of Comparable Square Feet Rent Prior Rent % Change Rent Over Prior Rent Over Prior Rent & Incentives Per Sq. Ft. in Rent Tenant Net Rentable Contractual Annual Change Cash Basis Straight-Line Weighted Average Tenant Improvements Improvements & Incentives Basis % Change % of Comparable Square Feet Prior Rent % Change Per Sq. Ft. Tenant Net Rentable Contractual Annual Change Cash Basis Straight-Line Weighted Average Tenant Improvements Improvements & Incentives Over Prior Rent Over Prior Rent & Incentives Basis % Change Leases Signed Signed Per Sq. Ft. (2) Per Sq. Ft. (3) in Rent % of Comparable Square Feet Rent Prior Rent % Change Leases Signed Signed Per Sq. Ft. (2) Per Sq. Ft. (3) Net Rentable Contractual Weighted Average Tenant Improvements Square Feet Rent Improvements & Incentives Per Sq. Ft. (2) Lease Term (4) & Incentives Per Sq. Ft. Per Sq. Ft. Tenant Over Prior Rent Over Prior Rent & Incentives