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Saks Fifth Avenue OFF 5TH Opens at Carmel Mountain Plaza in San Diego

SAN DIEGO, CALIFORNIA (May 23, 2014) -American Assets Trust, Inc. (AAT) (the "Company") announced today that New York-based Saks Fifth Avenue OFF 5TH, part of the Hudson`s Bay Company brand portfolio (HBC.TO), will open a new Saks Fifth Avenue, OFF 5TH at Carmel Mountain Plaza, a shopping center owned by and managed by the Company in San Diego, California. The approximately 40,000-square-foot store is scheduled to open on Friday, May 23, 2014.

Carmel Mountain Plaza is located in Carmel Mountain Ranch, a San Diego community, near the intersection of I-15 and Carmel Mountain Road. The new Saks Fifth Avenue OFF 5TH will join anchor tenants Nordstrom Rack, Barnes & Noble, Marshalls, Michaels, Ross and Sprouts. Carmel Mountain Plaza also features a movie theatre and several restaurants.

"We are thrilled to welcome Saks Fifth Avenue OFF 5TH to Carmel Mountain Plaza," said John W. Chamberlain, President and CEO of the Company. "Saks Fifth Avenue OFF 5TH is the perfect addition to Carmel Mountain Plaza, and will enhance the consumer experience for countless people in the surrounding communities." 

About American Assets Trust, Inc.                                                  

American Assets Trust, Inc. is a full service, vertically integrated and self-administered real estate investment trust, or REIT, headquartered in San Diego, California.  For over 40 years, the Company has been acquiring, improving, developing and managing premier retail, office and residential properties throughout the United States in some of the nation`s most dynamic, high-barrier-to-entry markets primarily in Southern California, Northern California, Oregon, Washington and Hawaii. The Company`s retail portfolio comprises approximately 3.1 million rentable square feet, and its office portfolio comprises approximately 2.6 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.  In 2011, 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.  For additional information, please visit www.americanassetstrust.com.

Source:  American Assets Trust, Inc.

Investor and Media Contact:

American Assets Trust

Robert F. Barton
Executive Vice President and Chief Financial Officer

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: American Assets Trust, Inc. via GlobeNewswire