Charlotte-based Cogdell Spencer reported a loss of $1.8 million in the third quarter, compared with net income of $1.2 million in the year-ago quarter.
Revenue dropped to $39.3 million from $51.3 million in the same quarter last year.
The company is a real estate investment trust.
As of September 30, its portfolio included 113 properties totaling approximately 5.9 million square feet.