Glimcher Announces Tenant List for The Outlet CollectionTM Seattle
Coach, Nike, Michael Kors, J. Crew, Brooks Brothers, LOFT Outlet, H&M and Skechers Added to the Roster
COLUMBUS, Ohio--(BUSINESS WIRE)-- Glimcher Realty Trust (NYSE: GRT) , one of the country's premier retail real estate investment trusts, today released the tenant list for the newly renovated The Outlet Collection Seattle. After the renovation is complete, the center will be 94% occupied with more than 100,000 square feet of new outlet retail brands. A grand re-opening is planned for October 17, 2013.
According to Marshall Loeb, President and Chief Operating Officer at Glimcher, "We are pleased with the progress of the transformation of The Outlet Collection Seattle into a designer fashion outlet mall. We've improved the aesthetic and shopper experience and are seeing strong interest from top designer brands, like Coach, Michael Kors, Nike, and J. Crew. The project is exceeding expectations and is on track to deliver meaningful growth, doubling sales per square foot."
Glimcher announced a $35 million renovation of The Outlet Collection Seattle in May 2012, which included a more modern aesthetic, rebranding the center under The Outlet Collection brand, and taking it from a hybrid to pure outlet center. Located in Auburn, Wash., the center will become the largest fully enclosed outlet center in the Pacific Northwest.
The comprehensive list of retailers at the center will include:
L'eggs, Hanes, Bali, Playtex Factory Outlet
Ann Taylor Factory Store
Levi's Outlet Store
Auntie Anne's Pretzels
Banana Republic Factory Store
Bath & Body Works
Bed, Bath & Beyond
Black Market Minerals
Brooks Brothers Factory Store
Burlington Coat Factory
Nike Factory Store
Old Navy Outlet
Coach Factory Outlet
Dairy Queen/Orange Julius
D'Lara Mediterranean Grill
Eddie Bauer Outlet
General Nutrition Center
Tommy Hilfiger Company Store
Van Heusen Direct
Icing by Claire's
Villa Fresh Italian Kitchen
J. Crew Factory Store
Wilsons Leather Outlet
Kay Jewelers Outlet
*Bold names indicate stores not yet open
Lane Bryant Outlet
About Glimcher Realty Trust
Glimcher Realty Trust, a real estate investment trust, is a recognized leader in the ownership, management, acquisition and development of retail properties, including mixed use, open-air and enclosed regional malls as well as outlet centers.
Glimcher Realty Trust's common shares are listed on the New York Stock Exchange under the symbol "GRT." Glimcher Realty Trust's Series G, Series H, and Series I preferred shares are listed on the New York Stock Exchange under the symbols "GRTPRG," "GRTPRH," and "GRTPRI," respectively. Glimcher Realty Trust is a component of both the Russell 2000® Index, representing small cap stocks, and the Russell 3000® Index, representing the broader market. Glimcher® is a registered trademark of Glimcher Realty Trust.
Forward Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are based on assumptions and expectations that may not be realized and are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy. Future events and actual results, financial and otherwise, may differ from the results discussed in the forward-looking statements. Risks and other factors that might cause differences, some of which could be material, include, but are not limited to, economic and market conditions, tenant bankruptcies, bankruptcies of joint venture partners, rejection of leases by tenants in bankruptcy, financing and development risks, construction and lease-up delays, cost overruns, the level and volatility of interest rates, the rate of revenue increases versus expense increases, the financial stability of tenants within the retail industry, the failure of Glimcher Realty Trust or any of its affiliates (collectively, "GRT") to make additional investments in regional mall properties and redevelopment of properties, failure of GRT to complete proposed or anticipated acquisitions, the failure to sell properties as anticipated and to obtain estimated sale prices, the failure to fully recover tenant obligations for common area maintenance, insurance, taxes and other property expenses, the failure to achieve earnings/FFO targets, the failure to sell additional community centers, failure of GRT to qualify as a real estate investment trust, termination of existing joint venture arrangements, conflicts of interest with our existing joint venture partners, the failure to achieve estimated sales prices and proceeds from the sale of properties, impairment charges, increases in recorded impairment charges, failure to refinance debt at favorable terms and conditions, significant costs related to environmental issues as well as other risks listed from time to time in the GRT's reports filed with the Securities and Exchange Commission or otherwise publicly disseminated by GRT.
Visit Glimcher at: www.glimcher.com
KEYWORDS: United States North America Ohio Washington
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