| Glimcher Realty Trust (GRT) is an integrated real estate investment trust. The Company owns, leases, acquires, develops and operates a portfolio of retail properties consisting of enclosed regional and super regional malls (Malls) and community shopping centers (Community Centers). At December 31, 2007, the Malls and Community Centers (the Properties) consisted of 23 Malls containing an aggregate of 20.6 million square feet of gross leasable area (GLA) and four Community Centers containing an aggregate of one million square feet of GLA. At December 31, 2007, GRT held a 92.1% interest in a partnership, of which Glimcher Properties Corporation, a wholly owned subsidiary of GRT, is sole general partner. As of December 31, 2007, the occupancy rate for all of the Properties was 95.2% of GLA. During the year ended December 31, 2007, the occupied GLA was leased at 83.5%, 9.3% and 7.2% to national, regional and local retailers, respectively. |
