competition map _ PRC - washington prime group

ACQUISITIONS
OUR COMPANY
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OUR PROPERTIES
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OUR PHILOSOPHY
ABOUT US.
OUR COMPANY
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OUR PROPERTIES
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OUR PHILOSOPHY
Glimcher Realty Trust (NYSE: GRT) is a real estate investment trust specializing in the acquisition,
development, management and ownership of retail properties throughout the United States. With
properties spanning both coasts, Glimcher’s portfolio includes enclosed, open-air and outlet malls.
With a clear growth plan, the company is focused on adding high quality properties,
reinvesting in core assets and identifying strategic development opportunities.
OUR COMPANY
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OUR PROPERTIES
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OUR PHILOSOPHY
An integral part of the transformation of Glimcher’s portfolio has been the addition of highly performing
assets with strong market demographics and deep rosters of premium tenants. The company keeps a
robust pipeline of deals, focusing on assets above $450 per square foot with low occupancy costs. These
assets not only make Glimcher better, but they also reflect the company’s ability to execute on and off
market deals and showcase the outsized impact of one or two acquisitions on the composition of the portfolio.
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NORTHWEST OKLAHOMA CITY
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THE TRIANGLE @ CLASSEN CURVE
CLASSEN CURVE | NICHOLS HILLS
Oklahoma city, oklahoma
6440 AVONDALE DR. SUITE 200, UNIT 20 NICHOLS HILLS, OK 73116
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405.902.2505
In February of 2014, Glimcher closed on an off-market deal to acquire three contiguous retail properties
in Oklahoma City and Nichols Hills, Oklahoma, with a combined 290,000 SF of open-air, mixed-use GLA.
In addition to the existing GLA, the transaction included approximately 12 acres of adjacent land which will
allow for future expansion. Consistent with Glimcher’s transformative strategy, the combined Classen Curve
and Nichols Hills Plaza district provides solid growth opportunities over both the near and long term.
THE TRIANGLE @ CLASSEN CURVE
CLASSEN CURVE | NICHOLS HILLS
KEY RETAILERS
MAJOR STORES & RESTAURANTS
Classen Curve: 94,000 SF of retail GLA, opened in 2009
The Triangle @ Classen Curve: 67,000 SF of retail GLA, opened in 2011
Nichols Hills Plaza: 104,000 SF of retail GLA, 25,000 SF of office GLA, opened in mid-1950’s
Broker: N/A – Off Market Transaction
Seller: Chesapeake Land Development, LLC (wholly owned subsidiary of Chesapeake
Energy Corporation)
Closed: February 2014
Purchase Price: $51,820,000
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MICHIGAN
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ANN ARBOR
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YPSILANTI
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CANTON
ARBOR HILLS
ANN ARBOR, MICHIGAN
3010 WASHTENAW AVENUE, ANN ARBOR, MI 48104
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www.shoparborhills.com
In December 2013, Glimcher closed on an off-market deal to acquire Arbor Hills, an 87,000 SF open-air retail
center that includes 9,000 SF of second-level office space. Newly constructed and opened in August of 2013,
this uniquely designed center is located in the heart of Ann Arbor’s retail corridor less than a mile from the
University of Michigan campus. The center boasts an impressive collection of highly-productive,
first-to-market retailers.
KEY RETAILERS
MAJOR STORES & RESTAURANTS
Broker: N/A – Off Market Transaction
Seller: A partnership between North Shore Properties Group & Campus Realty of Ann Arbor
Closed: December 2013
Purchase Price: $52,550,000
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Lancaster Ave
CBD
Pennsylvania Ave
Fort Worth
Botanic Gardens
Baylor Surgical
Hospital - Ft. Worth
Main St
Will Rogers
Stadium
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Cultural District
in
River Crest
Country Club
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Montgomery
Plaza
7th St
River Crest
Shady Oaks
Country Club
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Ridglea
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Bellaire
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River Hills
Berry St
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Bryant Irvin Rd
Texas Christian
University
Biddison St
John Peter
Smith Hospital
Allen Ave
Riverside Dr
Home St
Fort Worth
Zoo
8th Ave
Baylor All Saints
Medical Center
CHAPEL HILL
SHOPPING CENTER
SECTION
UNIVERSITY
FORT WORTH , TE XAS
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UNIVERSITY PARK VILLAGE
Fort Worth, Texas
1612 SOUTH UNIVERSITY DRIVE, FORT WORTH, TX 76107
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817.332.5700
In January 2013, Glimcher closed on the purchase of University Park Village, a highly productive,
market-dominant, 173,000 SF open-air center in Fort Worth, Texas. This center matched Glimcher’s
acquisition criteria, expanded the company’s footprint into the state of Texas and deepened
relationships with top performing retailers.
UNIVERSITY
KEY RETAILERS
MAJOR STORES & RESTAURANTS
Broker: HFF
Seller: Heitman
Closed: January 2013
Purchase Price: $105,000,000
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MALIBU
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PAC I F I C O C E A N
MALIBU, CALIFORNIA
MALIBU LUMBER YARD
MALIBU, CALIFORNIA
3939 CROSS CREEK ROAD, MALIBU, CA 90265
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www.themalibulumberyard.com
Glimcher purchased the leasehold interest in the Malibu Lumber Yard, an upscale, 31,044 SF specialty center,
located within view of the Pacific Ocean in Malibu, CA. The center is highly productive and features an
impressive mix of luxury tenants, providing Glimcher the opportunity to build and strengthen relationships
with these highly sought after retailers.
KEY RETAILERS
MAJOR STORES & RESTAURANTS
Dance Star
Dance Star
Maxfield
Broker: Eastdil Secured
Seller: A partnership between local developers Richard Sperber and Richard Weintraub
Closed: June 2012
Purchase Price: $35,500,000
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OLATHE
GRANDVIEW
L E AW O O D , K A N S A S
TOWN CENTER PLAZA
LEAWOOD, KANSAS
5000 W. 119TH STREET, LEAWOOD, KS 66209
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913.498.1111
In December 2011, Glimcher closed on the purchase of Town Center Plaza, a 400,000 SF, open-air mall in
Leawood, KS, an upscale suburb of Kansas City. This transaction was part of an asset swap, in which Glimcher
added a high quality shopping mall and disposed a non-core, regional power center.
KEY RETAILERS
MAJOR STORES & RESTAURANTS
Broker: n/a – Off Market Transaction
Seller: DDR Corp.
Closed: December 2011
Purchase Price: $138,500,000
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OLATHE
GRANDVIEW
L E AW O O D , K A N S A S
TOWN CENTER CROSSING
LEAWOOD, KANSAS
4425 W. 119TH STREET, LEAWOOD, KS 66209
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913.498.1111
In May 2012, Glimcher closed on an off-market deal to acquire The Shops at One Nineteen, an upscale,
165,000 SF open-air center located in Leawood, Kansas, adjacent to Town Center Plaza. Glimcher has
subsequently rebranded the center as Town Center Crossing, creating the premium Town Center District.
KEY RETAILERS
MAJOR STORES & RESTAURANTS
Broker: n/a – Off Market Transaction
Seller: RED Development
Closed: May 2012
Purchase Price: $67,500,000
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A I E A , H AWA I I
PEARLRIDGE CENTER
AIEA, HAWAII
98-1005 MOANALUA RD. #231, AIEA, HI 96701
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808.488.0981
In a partnership with Blackstone Real Estate, Glimcher expanded beyond the continental U.S. with the
purchase of Pearlridge Center. The second largest mall in Hawaii, Pearlridge offers total GLA in excess of
1.1 million square feet including 100,000 square feet of office GLA. This was an attractive opportunity for
Glimcher to purchase a well performing asset in a strong market, and capture additional upside from
the property previously being undermanaged. Glimcher purchased the remaining interest in the center
in May 2012.
KEY RETAILERS
MAJOR STORES & RESTAURANTS
Broker: Eastdil Secured
Seller: Northwestern Mutual
Closed: November 2010
Purchase Price: $245,000,000
LEARN MORE.
OUR COMPANY
|
OUR PROPERTIES
|
OUR PHILOSOPHY
When we think about the future of the shopping mall, we think about experience retail. As we transform our
business, we are focused on making our properties destinations that offer a unique mix of entertainment,
dining and shopping and promote experiences that can’t be replicated anywhere else. We invite you
to learn more about our company, our properties and our philosophy at:
WWW.GLIMCHER.COM
Ward Kampf
180 East Broad Street
Columbus, Ohio 43215
[email protected] | 614.621.9000
Chris Ellis
180 East Broad Street
Columbus, Ohio 43215
[email protected] | 614.621.9000