Developer Selling Two Local Malls

Jun 19, 2014

Indian Mound Mall
Credit wikipedia

A local developer is selling River Valley Mall in Lancaster and Indian Mound Mall in Heath.

The two facilities are among the 13 being sold by Columbus-based Glimcher Realty Trust. The developer hopes to raise up to 300 million dollars to reduce its debt, fund redevelopment efforts, and offer preferred stock redemptions. Other Ohio malls being sold include two in Dayton and one in New Philadelphia. Glimcher previously announced it will sell Eastland Mall.