BLOOMFIELD HILLS, MI-Taubman Centers, the mall REIT developer and owner with 26 properties in North America, has released positive third quarter earnings and a strong 11.7% jump in sales per square foot from a year prior. The company also says it is progressing on four new developments, and looks to make property announcements in South Korea and China sometime next year.

Robert Taubman, chairman, president and CEO, also said during a third quarter conference call Friday that the company has had seven quarters in a row of double-digit sales increases. The trust’s funds from operations for the quarter were $37.7 million, up from $33.2 million from Q3 2010. “All our centers are reporting growth with Florida, luxury and tourism centers leading,” he said. “We recognize trees don’t grow to the sky, and eventually sales growth will begin to moderate, but in the meantime we are enjoying it.”

The company recently acquired the Mall at Green Hills in Nashville and the Gardens on El Paseo in Palm Desert, CA. However, the company’s loans on the Pier Shops in Atlantic City and Regency Square in Richmond, VA are in default. Taubman is working with special servicers to transfer titles to both properties, and both lenders are moving to take ownership of the malls.