Glimcher Realty Trust
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Glimcher Realty Trust is a REIT that specializes in regional and super regional malls and community shopping centers around the U.S. They are involved in the ownership, acquisition, development and management of them.
Their New York Stock Exchange ticker symbol is GRT. They are based in Columbus Ohio. The Glimcher Company, originally started by Herbert Glimcher 45 years ago, became a real estate investment trust with their IPO January 20, 1994. Herbert is currently Chairman of the Board of Trustees. Michael Glimcher is now Chairman and CEO. They have developed, acquired and managed over 100 shopping centers during their history.
The Glimcher Company actually began as a lumber and building supply business in 1959. In the early 1960s they began to expand to centers, especially ones anchored by K-Marts. The soon began building strip shopping centers, some with McDonald's. In the early 1970s they expanded to build retail malls. In 1986 they build their first enclosed mall, Indian Mound Mall in Newark/Heath Ohio.
Glimcher now owns or manages 26 properties in 14 states, with nearly 22 million square feet. 23 of these properties are regional or super regional malls.
Glimcher Realty Trust Properties:
Scottsdale Quarter, Puente Hills Mall, Weberstown Mall, Merritt Square Mall, WestShore Plaza, The Great Mall of the Great Plains, Ashland Town Center, Northtown Mall, Eastland Mall, Jersey Gardens, Dayton Mall, Eastland Mall, Indian Mound Mall, New Towne Mall, Polaris Fashion Place, River Valley Mall, The Mall at Fairfield Commons, Tulsa Promenade, Lloyd Center, Colonial Park Mall, The Mall at Johnson City, SuperMall, Grand Central Mall, Morgantown Mall, Ohio River Plaza, Polaris Towne Center, and Morgantown Commons.
Although concentrated in their home state of Ohio, Glimcher Realty is a REIT that also has properties on the West Coast, a few other parts of the American MidWest, and on the East Coast including Florida.
In March 2010 they transferred 60% of their ownership of two malls to The Blackstone Group for $60 million. Their new, flagship mall and first development project in years is the Scottsdale Quarter in Arizona. In November 2010 they bought a new mall, Pearlridge Center in Honolulu Hawaii - the second largest in that state.
Next: Getty Realty Corp -- service stations, convenience stores and petroleum distribution centers
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