Glimcher Announces the Sale of Community Center in Newberry South CarolinaCOLUMBUS, Ohio, Sept. 25 /PRNewswire-FirstCall/ -- Glimcher Realty Trust, (NYSE: GRT), one of the country's premier retail REITs, announces that it has completed the sale of a community center asset in keeping with its strategy to reduce debt through non-strategic asset sales and to continue to focus on upgrading the quality of its overall portfolio. The Company sold Newberry Square Shopping Center, a community center located in Newberry, SC for approximately $925,000 to Drake Newberry, LLC, a South Carolina limited liability company. With the disposition of this property, the Company has no remaining community centers on the market listed for sale. The proceeds were used to pay down short-term borrowings under the Company's line of credit. About the Company Glimcher Realty Trust, a real estate investment trust, is a recognized leader in the ownership, management, acquisition and development of regional and super-regional malls. Glimcher Realty Trust's common shares are listed on the New York stock exchange under the symbol "GRT." Glimcher Realty Trust's Series F and Series G preferred shares are listed on the New York Stock Exchange under the symbols "GRT.F" and "GRT.G", respectively. Glimcher Realty Trust is a component of the Russell 2000 Index, representing small cap stocks, and the Russell 3000 Index, representing the broader market. Visit Glimcher at: http://www.glimcher.com/ SOURCE: Glimcher Realty Trust CONTACT: Carolee J. Oertel, Manager, Investor Relations of Glimcher Web site: http://www.glimcher.com/
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