The buyout/merger creates a new company called WP Glimcher, which will have its headquarters in Columbus, as Glimcher did. And Glimcher Realty Trust CEO Michael P. Glimcher will serve as CEO of the new company.
Asked Thursday about the buyout’s impact on the two Dayton-area malls, WP Glimcher spokeswoman Karen Bailey said, “We are very pleased with the momentum we have seen with leasing at both properties … . We do not anticipate any changes to our focus on leasing space at these centers and remain committed to bringing great new retail and restaurants to the Dayton market.”
Bailey added, “We have strong teams in place at both Dayton Mall and Mall at Fairfield Commons and are confident they will continue to provide great service to shoppers.”
The Mall at Fairfield Commons started a demolition project Monday that will pave the way for five new restaurants. Bailey said company officials “are anxious to continue to move forward” with that project.
Glimcher had been shopping both its Fairfield Commons mall and the Dayton Mall, along with several of its other malls and shopping centers, to potential buyers prior to the buyout/merger announcement last September.
Mark S. Ordan, executive chairman of WP Glimcher, said WP Glimcher will focus on “joint ventures and possible asset sales, maintaining our investment grade rating, strengthening our asset base through development and redevelopment opportunities, and strategically acquiring new properties in both enclosed and open air large-format shopping centers that have a long term place in their markets.”
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