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.
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