Glimcher Realty Trust


Glimcher Realty Trust was a real estate investment trust based in Columbus, Ohio that invested in shopping malls. In 2015, the company was acquired by Washington Prime Group.

Investments

As of December 31, 2013, the company owned interests in 28 shopping centers in 15 states in the United States containing 19.3 million square feet of gross leasable area.
Notable properties wholly owned by the company included the following:
Property NameLocation
Puente Hills MallCity of Industry, California
WestShore PlazaTampa, Florida
Ashland Town CenterAshland, Kentucky
Northtown MallBlaine, Minnesota
Jersey GardensElizabeth, New Jersey
Dayton MallMiami Township, Montgomery County, Ohio
Indian Mound MallNewark, Ohio
Polaris Fashion PlaceColumbus, Ohio
The Mall at Fairfield CommonsBeavercreek, Ohio
Lloyd CenterPortland, Oregon
Colonial Park MallHarrisburg, Pennsylvania
Mall at Johnson CityJohnson City, Tennessee
Grand Central MallVienna, West Virginia
The Outlet Collection SeattleAuburn, Washington
Weberstown MallStockton, California
Merritt Square MallMerritt Island, Florida
Eastland MallColumbus, Ohio
Pearlridge CenterAiea, Hawaii
Town Center PlazaLeawood, Kansas

History

The company was founded as The Glimcher Company by Herbert Glimcher in 1959, who started in the lumber business. Throughout much of its history, the company's largest tenant was Kmart.
In 1998, the company acquired 5 shopping malls for $375 million.
In 1999, the company received a $1 billion investment from Nomura Holdings to build 4 shopping centers.
On January 26, 1994, the company became a public company via an initial public offering.
In 2004, the company sold 25 properties for $103.1 million.
In 2007, the company sold University Mall in Tampa, Florida for $149 million.
In 2010, the company closed a $320 million joint venture with The Blackstone Group, which included the sale of a 60% interest in 2 malls.
In 2011, the company completed an asset swap with DDR Corp. in which the company sold Polaris Towne Center and purchased Town Center Plaza for $139 million.
In 2013, the company acquired University Park Village in Fort Worth, Texas for $105 million. The company also acquired Blackstone's 60% interest in WestShore Plaza.
In 2015, the company was acquired by Washington Prime Group for $4.3 billion in stock and cash. As part of the transaction, Jersey Gardens and University Park Village were sold to Simon Property Group for $1.09 billion.