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Glimcher Gets Some Fresh Air
The Glimcher Realty Trust pipeline is filled with open-air centers. "We're seeing a lot of opportunity in the market and even our own portfolio with open-air right now," said Michael P. Glimcher, chairman and CEO, Columbus, Ohio-based Glimcher.
Over the last three years, Glimcher has acquired five properties. Four were open-air. Today, open-air centers account for about 20% of the company's 29 properties.
Recently, Glimcher shared his insights about open-air and enclosed centers with Chain Store Age contributing writer Michael Fickes.
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Just What Madison Ordered
Madison, Ala., city officials didn't want just any development for its last available commercial tract, a 28-acre property along a major thoroughfare. They wanted to bring in retailers currently unavailable in the area.
They approached Target and Brentwood, Tenn.-based GBT Realty Corp., a developer known for its Target-anchored developments.
"Madison told us they wanted Target," explained George B. Tomlin, president and CEO of GBT Realty. "If you help us, they said, we'll participate financially in the development of the property."

