Glimcher Announces Planned Acquisition of The Malibu Lumber Yard in Malibu

Glimcher Realty Trust GRT, one of the country's premier retail REITs, today announced plans to acquire The Malibu Lumber Yard, an outdoor retail center located in Malibu, California. The Malibu Lumber Yard is a two-story, 31,441 square foot specialty retail center located along the Pacific Coast Highway. Tenant sales at The Malibu Lumber Yard average more than $1,000 per square foot, and the center is currently 84% leased. The property features numerous upscale boutiques found only in the most desirable areas, such as James Perse, Tory Burch, Intermix, Alice & Olivia, J.Crew-at-the-Beach, and Quicksilver Girls.