Glimcher Sells Retail Center for $19.6M

COLUMBUS, OH-The retail REIT, in the midst of shedding community centers such as Georgesville Square here and single-tenant properties, gets $81 per sf. Gross proceeds are $3.7 million as the buyer assumed underlying debt.

By Mark Ruda | March 11, 2002 at 01:01 AM

The sale is part of the retail REIT's strategy to reduce debt, primarily by selling community centers such as the 241,000-sf Georgesville Square as well as single-tenant properties. Glimcher officials report they remain in discussions with potential buyers of other properties.

The company will use the approximately $3.7 million in proceeds to pay down its floating-rate bridge loan. The company's most recent balance sheet lists $1.2 billion in debt.

NOT FOR REPRINT

© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.

1 Landlords Pulled Into Immigration Raids as ICE Demands Tenant Information

2 HUD Considers Two-Year Limit on Rental Assistance Programs

3 Invesco and Bozzuto Launch $1B Capacity Multifamily Investment Program

4 SL Green Raises $1B for Opportunistic Debt Fund

5 Brookfield’s Net Lease Platform Changes Hands in $2.2B Deal with Starwood

Newly Launched Investment Firm Seeks $105B Opportunity in Seattle CRE

By Anthony Russo | July 17, 2025

Keelbase Capital plans to pursue value-add and private credit opportunities.

Newly Launched Investment Firm Seeks $105B Opportunity in Seattle CRE

Suburban Malls Shift Focus to Experience, Housing, and Social Spaces

By Philippa Maister | July 17, 2025

“Mixed-use environments contribute to the lifestyle vibrancy that is a critical element for communities to thrive.”

Suburban Malls Shift Focus to Experience, Housing, and Social Spaces

Retail Availability in Prime NYC Drops To Record Low

By Anthony Russo | July 15, 2025

Also, rents were at their highest levels in nearly five years.

Retail Availability in Prime NYC Drops To Record Low

2025 State of Renter Delinquency and Default link

Report

Sponsored by TheGuarantors

2025 State of Renter Delinquency and Default

Renter default is a critical challenge. This report, based on a survey of 400+ multifamily professionals, reveals key trends, economic drivers, and mitigation gaps to help you build resilience in 2025. You'll gain insights into the root causes of renter default, the operational strains it can put on your portfolio, and strategies you can leverage to protect your investments and maintain stability.

Browse More Resources ›

CRE Property Management Assessment: Your Building Operations Scorecard link

Assessment

Sponsored by Building Engines

CRE Property Management Assessment: Your Building Operations Scorecard

How do your building operations measure up? Use this detailed scorecard to evaluate your operational approach across five key areas.

Browse More Resources ›

5 Strategic Moves to Protect Your Multifamily NOI in 2025's Squeeze link

White Paper

Sponsored by TheGuarantors

5 Strategic Moves to Protect Your Multifamily NOI in 2025's Squeeze

Skyrocketing economic uncertainty means it’s essential for multifamily owners and operators to strengthen risk mitigation capabilities. Discover expert insights from industry experts, including the President of NMHC, to tackle 2025 challenges such as slower lease-ups, cost pressures, renter fraud, high reliance on concessions, and more.

Browse More Resources ›