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COLUMBUS, OH-Locally based Glimcher Realty Trust has agreed to acquire the one million-sf Eastland Mall here from Columbus East Joint Venture, an Ohio general partnership. The purchase will be made by the company’s operating partnership, Glimcher Properties Limited Partnership. The sale is scheduled to close prior to the end of the year. The price has not yet been released.

Concurrent with the acquisition announcement, May Department Stores announced plans to construct a 120,000-sf Kaufmann’s at the mall. The new department store is expected to open in the fall of 2005, giving the mall four department store anchors.

Originally constructed in 1968 and renovated in 1989, the enclosed regional mall has 69 in-line stores, a seven-unit food court and four freestanding buildings. The mall is anchored by Lazarus-Macy’s, Sears and JCPenney.

Glimcher has been shedding non-core community centers and utilizing the proceeds to reduce debt and increase its investment in regional mall properties. In keeping with that strategy, Glimcher earlier this month announced the sale of Linden Corners, an 80,010-sf community center in Buffalo, NY, for $1.6 million. The center includes an 80,000-sf vacant anchor location that was formerly occupied by Ames.

As of December, Glimcher’s regional mall portfolio consisted of 20.9 million sf of gross leasable area in 24 regional malls. Its community center portfolio includes 45 properties and 5.2 million square feet of GLA.

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