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DAYTON, OH-Glimcher Realty Trust recently started work on Dayton Streetscape, a new lifestyle component that will be connected to the existing 1.3-million-sf Dayton Mall. The 90,000-sf addition will feature high-end restaurant and retail tenants in an open-air, pedestrian-friendly setting.

P.F. Chang’s China Bistro and Jared jewelry store anticipate opening in time for the 2005 holiday season with the balance of the stores opening in first quarter 2006. Signed retailers include Cost Plus World Market, Sur La Table, Birkenstock, Track & Trail, Borders Books and Music, and Bravo! Italian Cucina.

The Dayton Mall is situated at the intersection of State Routes 725 and 741 and is bordered by Interstates 75 and 675. Anchored by Elder-Beerman, Lazarus, J.C. Penney and Sears, Dayton Mall also includes 145 specialty stores, including a 10-unit food court. Recent store openings in the mall include Old Navy, Linens ‘n Things and DSW Shoe Warehouse.

President and CEO Michael P. Glimcher says the company’s intent in the Dayton market remains two-fold: to be a prevailing retail provider and to enhance customer experiences. Illustrating its commitment to the market, Glimcher is also retrofitting its one-million-sf Mall at Fairfield Commons mall in nearby Beavercreek to include a lifestyle center component. “Dayton has been a terrific market for us,” Glimcher says, “and we have continuously reinvested money and upgraded this market’s two most dominant assets.”

According to the company, the annual retail sales potential of the metropolitan market is $3.1 billion with anticipated annual increases of 4% to 5% through 2005. The company says that economic indicators for the area remain strong, largely due to the market’s diverse economy and the low cost of living in comparison to other areas in the country.

The Columbus-based REIT is an owner and developer of 25 regional/super-regional malls and 16 community centers. These properties consist of 24.3 million sf gross leasable area, 21.8 million sf of which are mall properties.

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