Big Bear to open at Springfield Commons West Springfield, Ohio; $10.5 million development project reaches completion.

COLUMBUS, Ohio--(BUSINESS WIRE)--March 30, 1995--Today Glimcher Realty Trust (NYSE:GRT) announced that the newest Big Bear supermarket in Springfield, Ohio will open for business on Saturday, April 1, 1995 at 7 a.m.

Construction of Big Bear was Phase II of Glimcher's multi-phase Springfield project which includes development of two community shopping centers: Springfield Commons West and WalMart Plaza. The grand opening of Big Bear marks the completion of Springfield Commons West which includes a Lowe's Home Center super store that opened in January. Development costs of the approximately 55,000 square foot super-size Big Bear store were approximately $3.3 million. Total development costs of the now complete Springfield Commons West shopping center are approximately $10.5 million.

Development of Springfield Commons West was announced in April 1994. The approximately 200,000 square foot shopping center is located near the intersection of State Route 41 and State Route 68 on the west side of Bechtle Avenue in Springfield, Ohio. WalMart Plaza, development of which was announced earlier this month, is an approximately 200,000 square foot community shopping center which will be located on the east side of Bechtle Avenue.

David Glimcher, president and chief executive officer of Glimcher Realty Trust, stated, "We are very excited about the rapid progress of this project. Development of this community shopping center was completed on schedule. We are proceeding with the development of another community shopping center, WalMart Plaza, which is located just across the street from Springfield Commons West. The mix of retailers present at these two centers will have a strong draw and will attract shoppers from a regional area."

Big Bear President, John J. Josephson, commented, "Big Bear has been serving the Springfield community for 48 years. The Springfield Commons West store will be Big Bear's largest store in Springfield. We will incorporate expanded service departments and a greater selection of merchandise throughout the store to serve our customers better."

Glimcher Realty Trust, is a fully integrated, self-administered and self-managed real estate investment trust. The company owns a total of 87 properties located in 22 states, aggregating in excess of 13 million square feet including properties currently operating and under construction. Glimcher Realty Trust will continue to own, lease, manage, acquire and develop enclosed regional malls, community shopping centers and single tenant retail properties as its predecessor, The Glimcher Company, has since 1959.

CONTACT: Glimcher Realty Trust

David J. Glimcher or Fred Zantello

614/621-9000

or

G.A. Kraut Company Inc., New York 

Cynthia A. Bond, 212/696-5600