Glimcher Announces the Sale of The Great Mall of The Great Plains, Olathe, KS
COLUMBUS, Ohio—January 6, 2009—Glimcher Realty Trust, (NYSE: GRT), —
one of the country’s premier retail REITs, completed the sale of The Great Mall of the Great Plains ("Great Mall") on January 5, 2009, a regional mall located in Olathe, Kansas.
The company sold the mall for $20.5 million to Great Olathe Center, LLC. The proceeds were applied towards the repayment of the $30.0 million mortgage on the property. The sale of the Great Mall is part of the company’s plans to upgrade the portfolio and dispose of non-strategic assets.
About Glimcher Realty Trust
Glimcher Realty Trust, a real estate investment trust, is a recognized leader in the ownership, management, acquisition and development of regional and super-regional malls.
Glimcher Realty Trust’s common shares are listed on the New York Stock Exchange under the symbol “GRT.” Glimcher Realty Trust’s Series F and Series G preferred shares are listed on the New York Stock Exchange under the symbols “GRT-F” and “GRT-G,” respectively. Glimcher Realty Trust is a component of both the Russell 2000® Index, representing small cap stocks, and the Russell 3000® Index, representing the broader market.
Visit Glimcher at: www.glimcher.com
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