Columbus based Glimcher Realty is willing to sell it's best malls including Polaris Fashion Place to raise capital according to the Wall Street Journal. Or sell stakes in the malls. Or sell stakes in at least the two other malls, the way the Wall Stree Journal article reads... The other two malles in Portland Oregon and Tampa Florida...they want to sell stakes in the mall.
Wall Street Journal - "Glimcher Shops it's Malls" says of the three malls Glimcher wants to sell :
"The properties are among the best in Glimcher's portfolio, with Lloyd Center logging sales per square foot of $379 last year and WestShore registering $422. Lloyd Center has a $129 million mortgage coming due 2013. WestShore's $91.5 million mortgage matures in 2012. And Polaris's $39.3 million mortgage matures in 2010."
The way I understood it listening to the news on TV this morning Glimcher is trying to sell stakes in Polaris Fashion Place too. Maybe I need to read the Columbus Dispatch!
The Polaris Fashion Place mall in Southern Delaware County opened in 2001. October 2001? The photo above is the Lifestyle center on the east end of Polaris Fashion Place. It was redeveloped and is a work in progress. The majority of the Polaris Fashion Place Mall is a traditional shopping mall.
More posts about Polaris:
Edit 8/3/2009 Polaris has a rule against taking photos.