Glimcher says goodbye to Knox Village Square
Property labeled 'nonstrategic asset'
By Inman News, Friday, May 2, 2008.Glimcher Realty Trust on Thursday announced it sold Knox Village Square in Mount Vernon, Ohio, as part of its disposition program of its nonstrategic assets.
The company sold Knox Village Square to WP Realty Inc. for $9.5 million, and the proceeds were used to pay down short-term borrowings under the company's line of credit.
The property, located at 1500 Coshocton Ave., comprises 207,409 square feet of gross leasable area situated on more than 31 acres.
At the time of sale, the property was anchored by Big Kmart and JC Penney, who were on leases until 2017 and 2013, respectively. Other tenants occupying space were Peebles, Fashion Bug and Hibbett Sporting Goods.
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