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DDR and Glimcher Realty Trust announce strategic asset swap
Columbus, Ohio -- Developers Diversified Realty and Glimcher Realty Trust announced Wednesday that the companies have entered into an agreement to swap two assets better aligned with the other’s operating platforms and strategies.
DDR will sell Glimcher its open-air mall, Town Center Plaza, in Kansas City, Kan., and Glimcher will sell DDR its power center, Polaris Towne Center, in Columbus, Ohio.
The transaction is expected to close in the fourth quarter of 2011.
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August sales strong despite hurricane and Wall Street volatility
PURCHASE, N.Y. — The apparel, e-commerce, grocery, and luxury segments all showed continued growth in August, as the hardware, restaurant, and automotive repair sectors returned to positive territory, according to MasterCard Advisors SpendingPulse, a macroeconomic report tracking national retail and services sales.