Glimcher Announces Planned Acquisition of The Malibu Lumber Yard in Malibu
Glimcher Realty Trust (NYSE: 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.
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