Glimcher acquires One Nineteen open-air center for $67.5 million
Leawood, Kan. -- Columbus, Ohio-based Glimcher Realty Trust said Wednesday it has completed the acquisition of One Nineteen, an outdoor retail center located in Leawood, Kan.
One Nineteen is adjacent to Glimcher’s Town Center Plaza and will add approximately 165,000 sq. ft. of GLA to the combined property. Tenant sales at One Nineteen average more than $900 per sq. ft., and the center is currently 93% leased featuring Kansas City’s first and only Crate & Barrel and lululemon athletica, as well as an Apple store.
Glimcher purchased the center for approximately $67.5 million.
“We are pleased with the strategic acquisition of One Nineteen to complement Town Center Plaza,” said Michael Glimcher, president and CEO. “Together, these properties represent 600,000 sq. ft. of retail space generating sales of over $550 per square foot. They offer tremendous growth potential and will generate efficiencies in leasing and property management.”