Exhibit 99.1


            American Spectrum Realty Reports Sale of Office Property;
                         Mira Mesa Sold for $20,250,000


     HOUSTON--(BUSINESS WIRE)--Jan. 9, 2006--American Spectrum Realty, Inc.
(AMEX:AQQ), a real estate investment and management company located in Houston,
Texas, announced today the sale of Mira Mesa on January 6, 2006.
     Mira Mesa, an 88,295 square foot office property located in San Diego,
California, was sold for $20.25 million. The sale generated net proceeds of
approximately $7 million, of which approximately $6 million is being held in
escrow to assist the funding of a future acquisition in a tax-deferred exchange.
The Company anticipates a gain will be recognized during the first quarter of
2006 related to the sale.
     American Spectrum Realty, Inc. is a real estate investment and management
company that owns 21 office, industrial, and retail properties aggregating over
1.6 million square feet in California, Texas, Arizona, South Carolina and the
Midwest. Publicly traded on the American Stock Exchange since November 2001,
American Spectrum Realty's business plan focuses on expansion of office and
industrial property investments in California, Texas and Arizona.


    CONTACT: American Spectrum Realty, Inc., Houston
             William J. Carden, 713-706-6200