Glimcher Announces Acquisition of Additional Retail Center for $67.5M
Glimcher Realty Trust (NYSE: GRT) today announced the completed acquisition of One Nineteen, an outdoor retail center located in Leawood, Kansas. One Nineteen is adjacent to the Company's Town Center Plaza in Leawood and will add approximately 165,000 square feet of leasable retail space to the combined property. Tenant sales at One Nineteen average more than $900 per square foot, and the center is currently 93% leased featuring upscale retailers such as Kansas City's first and only Crate&Barrel and lululemon athletica, as well as an Apple Retail Store. The Company purchased the center for approximately $67.5 million. The acquisition was funded with the proceeds from the secondary offering completed in the first quarter.
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