Last year, real-estate developer and art collector Ron Pizzuti opened the doors to the Pizzuti Collection in the Short North, a venue at which to showcase his vast art collection. After purchasing his first piece of art in 1972, he has since amassed more than 1,500 works by artists ranging from Frank Stella to Ai [...]
Glimcher Reports Record Sales
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Columbus-based shopping mall owner Glimcher is reporting the best quarter in company history.
In the final quarter of 2011, Glimcher was finally able to crack the $400-per-square-foot mark. That’s a big deal, says Lisa Indest, the company’s vice president of finance and accounting.
“Once you’re over that threshold, the value of malls in that tier of sales is much greater than those under,” Indest says.
Indest says Glimcher has outperformed the down economy by focusing on its best properties.
“So we did in 2007 and 2008 sell some under-performing malls, and we’ve added high-quality malls to our portfolios.”
Glimcher owns 24 malls including Eastland and Polaris Fashion Place, which Indest says has sales about 25 percent higher than the company average.