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Note 4 - Property Acquisitions, Developments and Other Investments | 12 Months Ended
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Dec. 31, 2012
Business Combination Disclosure [Text Block] | 4. Property Acquisitions, Developments and Other Investments: Operating property acquisitions, ground-up development costs and other investments have been funded principally through the application of proceeds from the Company's public equity and unsecured debt issuances, proceeds from mortgage and construction financings and availability under the Company’s revolving lines of credit. Acquisition of Operating Properties – During the year ended December 31, 2012, the Company acquired 24 operating properties, 69 net leased parcels and five outparcels, in separate transactions as follows (in thousands):
|  |  |  |  |  | Purchase Price |  |  |  |
Property Name |  | Location |  | Month Acquired |  | Cash |  |  | Debt Assumed |  |  | Total |  |  | GLA* |
Woodbridge S.C. |  | Sugarland, TX |  | Jan-12 |  | $ | 9,000 |  |  | $ | - |  |  | $ | 9,000 |  |  |  | 97 |
Bell Camino Center |  | Sun City, AZ |  | Jan-12 |  |  | 4,185 |  |  |  | 4,210 |  |  |  | 8,395 |  |  |  | 63 |
31 parcels (2) |  | Various |  | Jan-12 |  |  | 30,753 |  |  |  | - |  |  |  | 30,753 |  |  |  | 83 |
1 parcel (3) |  | Duncan, SC |  | Jan-12 |  |  | 1,048 |  |  |  | - |  |  |  | 1,048 |  |  |  | 3 |
Olympia West Outparcel |  | Olympia, WA |  | Feb-12 |  |  | 1,200 |  |  |  | - |  |  |  | 1,200 |  |  |  | 6 |
Frontier Village (1) |  | Lake Stevens, WA |  | Mar-12 |  |  | 12,231 |  |  |  | 30,900 |  |  |  | 43,131 |  |  |  | 195 |
Silverdale S.C. (1) |  | Silverdale, WA |  | Mar-12 |  |  | 8,335 |  |  |  | 24,000 |  |  |  | 32,335 |  |  |  | 170 |
30 parcels (2) |  | Various |  | Mar-12 |  |  | 39,493 |  |  |  | - |  |  |  | 39,493 |  |  |  | 107 |
1 parcel (3) |  | Peru, IL |  | Mar-12 |  |  | 995 |  |  |  | - |  |  |  | 995 |  |  |  | 4 |
Towson Place (4) |  | Towson, MD |  | Apr-12 |  |  | 69,375 |  |  |  | 57,625 |  |  |  | 127,000 |  |  |  | 680 |
Prien Lake Outparcel |  | Lake Charles, LA |  | May-12 |  |  | 1,800 |  |  |  | - |  |  |  | 1,800 |  |  |  | 8 |
Devon Village |  | Devon, PA |  | Jun-12 |  |  | 28,550 |  |  |  | - |  |  |  | 28,550 |  |  |  | 79 |
4 Properties |  | Various, NC |  | Jun-12 |  |  | 63,750 |  |  |  | - |  |  |  | 63,750 |  |  |  | 368 |
Lake Jackson (5) |  | Lake Jackson, TX |  | Jul-12 |  |  | 5,500 |  |  |  | - |  |  |  | 5,500 |  |  |  | 35 |
Woodlawn S.C. |  | Charlotte, NC |  | Jul-12 |  |  | 7,050 |  |  |  | - |  |  |  | 7,050 |  |  |  | 137 |
Columbia Crossing - 2 Outparcels |  | Columbia, MD |  | Jul-12 |  |  | 11,060 |  |  |  | - |  |  |  | 11,060 |  |  |  | 69 |
Pompano Beach (6) |  | Pompano Beach, FL |  | Jul-12 |  |  | 12,180 |  |  |  | - |  |  |  | 12,180 |  |  |  | 81 |
6 Parcels (2) |  | Various |  | Jul-12 |  |  | 8,111 |  |  |  | - |  |  |  | 8,111 |  |  |  | 19 |
Wilton S.C. |  | Wilton, CT |  | Aug-12 |  |  | 18,800 |  |  |  | 20,900 |  |  |  | 39,700 |  |  |  | 96 |
Hawthorne Hills S. C. |  | Vernon Hills, IL |  | Aug-12 |  |  | 15,974 |  |  |  | 21,563 |  |  |  | 37,537 |  |  |  | 193 |
Greeley Shopping Center (7) |  | Greeley, CO |  | Oct-12 |  |  | 23,250 |  |  |  | - |  |  |  | 23,250 |  |  |  | 139 |
Savi Ranch Center Phase II |  | Yorba Linda, CA |  | Oct-12 |  |  | 34,500 |  |  |  | - |  |  |  | 34,500 |  |  |  | 161 |
Wild Lake Plaza Outparcel |  | Columbia, MD |  | Nov-12 |  |  | 300 |  |  |  | - |  |  |  | 300 |  |  |  | 75 |
City Heights Retail Village |  | San Francisco, CA |  | Nov-12 |  |  | 15,600 |  |  |  | 20,000 |  |  |  | 35,600 |  |  |  | 109 |
Snowden Square (8) |  | Columbia, MD |  | Dec-12 |  |  | 6,182 |  |  |  | - |  |  |  | 6,182 |  |  |  | 50 |
“Key Food” Portfolio (5 properties) |  | Various, NY |  | Dec-12 |  |  | 26,058 |  |  |  | - |  |  |  | 26,058 |  |  |  | 59 |
|  |  |  | Total |  | $ | 455,280 |  |  | $ | 179,198 |  |  | $ | 634,478 |  |  |  | 3,086 |
* Gross leasable area ("GLA") (1) These properties were acquired from a joint venture in which the Company has a 15% noncontrolling interest. The Company evaluated these transactions pursuant to the FASB’s Consolidation guidance and as such recognized an aggregate gain of $2.0 million from the fair value adjustment associated with its original ownership due to a change in control. (2) Acquired an aggregate of 67 parcels net leased to restaurants through a consolidated joint venture, in which the Company has a 99.1% controlling interest. During July 2012, the Company purchased the remaining 0.9% interest for $0.7 million. (3) Acquired an aggregate of two parcels net leased to restaurants through a consolidated joint venture, in which the Company has a 92.0% controlling interest. During July 2012, the Company sold 4% of its interest for $0.1 million. The Company continues to have a controlling interest in the joint venture and therefore continues to consolidate this investment. (4) This property was acquired from a joint venture in which the Company had a 30% noncontrolling interest. The Company evaluated this transaction pursuant to the FASB’s Consolidation guidance and as such recognized a gain of $12.1 million from the fair value adjustment associated with its original ownership due to a change in control. In addition, the Company recognized promote income of $1.1 million in connection with this transaction. The promote income is included in Equity in income of joint ventures, net on the Company’s Consolidated Statements of Income. Additionally, the debt assumed in connection with this transaction of $57.6 million was repaid in May 2012. (5) The Company acquired this property from a preferred equity investment in which the Company held a noncontrolling interest. The Company evaluated this transaction pursuant to the FASB’s Consolidation guidance. This transaction resulted in a change in control with no gain or loss recognized. (6) This property was acquired from a joint venture in which the Company had a 50% noncontrolling interest. The Company evaluated this transaction pursuant to the FASB’s Consolidation guidance. This transaction resulted in a change in control with no gain or loss recognized. (7) This property was acquired from a joint venture in which the Company has an 11% noncontrolling interest. The Company evaluated this transaction pursuant to the FASB’s Consolidation guidance and as such recognized a gain of $0.4 million from the fair value adjustment associated with its original ownership due to a change in control. (8) This property was acquired from a joint venture in which the Company has a 50% noncontrolling interest. The Company evaluated this transaction pursuant to the FASB’s Consolidation guidance and as such recognized a gain of $1.0 million from the fair value adjustment associated with its original ownership due to a change in control. During the year ended December 31, 2011, the Company acquired 19 operating properties, a land parcel and an outparcel, in separate transactions as follows (in thousands):
|  |  |  |  |  |  | Purchase Price |
Property Name |  |  | Location |  | Month Acquired |  | Cash |  |  | Debt Assumed |  |  | Total |  |  | GLA* |
Columbia Crossing |  |  | Columbia, MD |  | Jan-11 |  | $ | 4,100 |  |  | $ | - |  |  | $ | 4,100 |  |  |  | 31 |
Turnpike Plaza |  |  | Huntington Station, NY |  | Feb-11 |  |  | 7,920 |  |  |  | - |  |  |  | 7,920 |  |  |  | 53 |
Center Court |  |  | Pikesville, MD |  | Mar-11 |  |  | 9,955 |  |  |  | 15,445 |  |  |  | 25,400 |  |  |  | 106 |
Flowery Branch |  |  | Flowery Branch, GA |  | April-11 |  |  | 4,427 |  |  |  | 9,273 |  |  |  | 13,700 |  |  |  | 93 |
Garden State Pavilions |  |  | Cherry Hill, NJ |  | June-11 |  |  | 18,250 |  |  |  | - |  |  |  | 18,250 |  |  |  | 257 |
Village Crossroads |  |  | Phoenix, AZ |  | July-11 |  |  | 29,240 |  |  |  | - |  |  |  | 29,240 |  |  |  | 185 |
University Town Center | (1) |  | Pensacola, FL |  | Aug-11 |  |  | 17,750 |  |  |  | - |  |  |  | 17,750 |  |  |  | 101 |
Gateway Station | (2) |  | Burleson, TX |  | Sept-11 |  |  | 6,625 |  |  |  | 18,832 |  |  |  | 25,457 |  |  |  | 280 |
Park Hill Plaza |  |  | Miami, FL |  | Sept-11 |  |  | 17,251 |  |  |  | 8,199 |  |  |  | 25,450 |  |  |  | 112 |
Island Gate |  |  | Corpus Christi, TX |  | Oct-11 |  |  | 8,750 |  |  |  | - |  |  |  | 8,750 |  |  |  | 60 |
Village Center West |  |  | Highlands Ranch, CO |  | Oct-11 |  |  | 3,995 |  |  |  | 6,105 |  |  |  | 10,100 |  |  |  | 30 |
Belleville Road S.C. | (3) |  | Fairview Heights, IL |  | Oct-11 |  |  | 1,900 |  |  |  | - |  |  |  | 1,900 |  |  |  | - |
Grand Oaks Village |  |  | Orlando, FL |  | Nov-11 |  |  | 19,051 |  |  |  | 5,949 |  |  |  | 25,000 |  |  |  | 86 |
Market at Southpark |  |  | Littleton, CO |  | Nov-11 |  |  | 30,000 |  |  |  | - |  |  |  | 30,000 |  |  |  | 190 |
Jetton Village Shoppes |  |  | Charlotte, NC |  | Nov-11 |  |  | 5,110 |  |  |  | 8,250 |  |  |  | 13,360 |  |  |  | 81 |
Brennan Station |  |  | Raleigh, NC |  | Nov-11 |  |  | 20,225 |  |  |  | 9,125 |  |  |  | 29,350 |  |  |  | 136 |
Woodruff Outparcel | (4) |  | Woodruff, SC |  | Nov-11 |  |  | 1,183 |  |  |  | - |  |  |  | 1,183 |  |  |  | 119 |
Westridge Square |  |  | Greensboro, NC |  | Nov-11 |  |  | 26,125 |  |  |  | - |  |  |  | 26,125 |  |  |  | 215 |
Highlands Ranch |  |  | Highland Ranch, CO |  | Nov-11 |  |  | 7,035 |  |  |  | 20,599 |  |  |  | 27,634 |  |  |  | 123 |
North Valley Plaza |  |  | Peoria, AZ |  | Dec-11 |  |  | 7,260 |  |  |  | 16,135 |  |  |  | 23,395 |  |  |  | 168 |
College Park S.C. |  |  | Tempe, AZ |  | Dec-11 |  |  | 10,500 |  |  |  | - |  |  |  | 10,500 |  |  |  | 62 |
|  |  |  |  | Total |  | $ | 256,652 |  |  | $ | 117,912 |  |  | $ | 374,564 |  |  |  | 2,488 |
* Gross leasable area ("GLA") (1) This property was acquired from a joint venture in which the Company has a 13.4% noncontrolling interest. The Company evaluated this transaction pursuant to the FASB’s Consolidation guidance and as such recorded a gain of $0.6 million from the fair value adjustment associated with its original 13.4% ownership due to a change in control. (2) The Company purchased the leasehold improvements at this property for which it previously owned the land. (3) The Company acquired the land at this site for which it previously held a ground lease. (4) The Company purchased this out parcel next to an existing property that the Company previously owned. The aggregate purchase price of the above 2012 and 2011 property acquisitions have been allocated as follows (in thousands):
|  | 2012 |  |  | 2011 |
Land |  | $ | 196,219 |  |  | $ | 104,824 |
Buildings |  |  | 319,955 |  |  |  | 174,129 |
Below Market Rents |  |  | (40,375 | ) |  |  | (16,958 | )
Above Market Rents |  |  | 14,977 |  |  |  | 12,345 |
In-Place Leases |  |  | 31,248 |  |  |  | 20,031 |
Building Improvements |  |  | 99,092 |  |  |  | 72,979 |
Tenant Improvements |  |  | 19,327 |  |  |  | 14,110 |
Mortgage Fair Value Adjustment |  |  | (5,965 | ) |  |  | (6,896 | )
|  | $ | 634,478 |  |  | $ | 374,564 |
Additionally, during the years ended December 31, 2012 and 2011, the Company acquired the remaining interest in six and two previously consolidated joint ventures for $12.0 million and $0.2 million, respectively. Also during 2011, the Company acquired additional interests in two separate consolidated joint ventures for an aggregate cost of $9.7 million. The Company continues to consolidate these entities as there was no change in control from these transactions. The purchase of the remaining and additional partnership interests resulted in an aggregate decrease in noncontrolling interest of $10.4 million and $13.0 million for the years ended December 31, 2012 and 2011, respectively, and an aggregate decrease of $0.3 million and an aggregate increase of $3.6 million to the Company’s Paid-in capital, during 2012 and 2011, respectively. Ground-Up Development - The Company is engaged in ground-up development projects, which will be held as long-term investments by the Company. As of December 31, 2012, the Company had in progress a total of three ground-up development projects, consisting of two located in the U.S. and one located in Peru. During 2011, the Company acquired a land parcel located in Lima, Peru through a newly formed joint venture in which the Company has a 95% controlling ownership interest for a purchase price of 6.8 million Peruvian Sols (USD $2.5 million). This parcel will be developed into a grocery anchored shopping center. Kimsouth - Kimsouth Realty Inc. (“Kimsouth”) is a wholly-owned subsidiary of the Company that holds a 13.4% noncontrolling interest in a joint venture which owns a portion of Albertson’s Inc. During 2012, the joint venture distributed $50.3 million of which the Company received $6.9 million, which was recognized as income from cash received in excess of the Company’s investment, before income tax. During 2011, the joint venture distributed $100.0 million of which the Company received $13.9 million, which was recognized as income from cash received in excess of the Company’s investment, before income tax. The income for both 2012 and 2011 was included in Equity in income from other real estate investments, net on the Company’s Consolidated Statements of Income. FNC Realty Corporation – During 2011, the Company acquired an additional 12.48% interest in FNC Realty Corporation (“FNC”) for $12.4 million, which increased the Company’s total controlling ownership interest to 69.08%. During 2012, the Company acquired an additional 13.62% interest in FNC for $15.3 million, which increased the Company’s total ownership interest to 82.70%. The Company had previously and continues to consolidate FNC. Since there was no change in control from these transactions, the purchase of the additional interest resulted in an increase to the Company’s Paid-in capital of $0.1 million and $1.0 million during 2012 and 2011, respectively.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4845-128472 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4926-128472 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1490-128463 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7488404&loc=d3e6927-128479 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=7488404&loc=d3e7008-128479 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7488404&loc=d3e7000-128479 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1524-128463 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1383-128463 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1486-128463 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1500-128463 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 141R -Paragraph 67-73 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4934-128472 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 141R -Paragraph F4 -Subparagraph e -Appendix F Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1497-128463 Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4922-128472 Reference 17: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Emerging Issues Task Force (EITF) -Number 88-16 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 18: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 141 -Paragraph 51, 52 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 19: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7488404&loc=d3e6996-128479 + Details
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