Glimcher Sells 241,000 SF Community Center

NEW YORK CITY-The Columbus, OH retail REIT unloads Georgesville Square community shopping center for $19.6 million. The buyer also assumes $15.9 million in mortgage debt on the property.

By Glen Thompson | March 11, 2002 at 01:01 AM

Columbus-based Glimcher will use proceeds from the sale to pay down its floating rate bridge loan facility. The publicly traded REIT confirms for GlobeSt.com that it is in the process of marketing selected single-tenant and community center assets and currently is in discussion with several potential buyers but declines to offer specifics. "We only discuss them when we sell them," says Glimcher executive vice president William G. Cornely.

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