PHILADELPHIA-Columbus, OH-based Glimcher Realty Trust has sold Meadowview Square, a 151,242-sf regional community shopping center in Kent/Ravenna, OH for $9.5 million or $62.81 per sf. The center is anchored by a 126,250-sf Wal-Mart.

The buyer, Meadowview Properties, assumes a $7.45-million mortgage. The remaining proceeds were used to pay down Glimcher’s line of credit.

The sale is in keeping with Glimcher’s strategy of reducing debt through the sale of non-strategic assets, according to a statement. During 2002, the retail REIT has completed the sale of 18 community shopping centers and three single-tenant assets for an aggregate sale price of $180.9 million.

In addition to community centers, Glimcher owns and operates enclosed regional and super-regional malls and value-oriented mega malls.

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