American Assets Trust, Inc. Announces Sale of Del Monte Shopping Center in Monterey, California

Core Viewpoint - American Assets Trust, Inc. has announced the sale of Del Monte Shopping Center for approximately $123.5 million, which is a strategic move to focus on markets that offer greater economies of scale and operational efficiencies [1][2]. Company Overview - American Assets Trust, Inc. is a vertically integrated and self-administered real estate investment trust (REIT) based in San Diego, California, with over 55 years of experience in acquiring, improving, developing, and managing premier properties across the United States [3]. - The company's office portfolio includes approximately 4.1 million rentable square feet, while its retail portfolio comprises around 2.4 million rentable square feet [3]. - The company also owns a mixed-use property with approximately 94,000 rentable square feet of retail space and a 369-room all-suite hotel, in addition to 2,110 multifamily units [3].