Jersey Gardens Combines Glimcher Customer Service Philosophy with David Rockwell Design for a "One-of-a-Kind" Shopping Experience.

NEW YORK--(BUSINESS WIRE)--July 28, 1999--

Metropolitan Area's First Fashion Outlet Mall Set to Open October 21

Glimcher Realty Trust, one of the nation's largest shopping center developers, is bringing a new brand of savings and style to the marketplace where "never pay retail" was invented. Its newest property, Jersey Gardens, will open its doors on October 21, 1999 as the New York area's first fashion outlet mall.

Jersey Gardens is designed to offer the NJ/NY metropolitan area consumers an exciting new shopping experience while providing what extensive research showed they wanted most - a great choice of brand-name merchandise at outlet store prices. It has two levels and 1.3 million square feet of gross leaseable area which will include one of the nation's widest selections of outlets with the caliber of customer service and amenities traditionally found only in upscale fashion malls.

The new mall's retail tenants represent the who's who of value shopping under a single roof. Consumers will be able to reap significant savings on branded merchandise at more than 190 stores, including Neiman Marcus Last Call; Off 5th Saks Fifth Avenue Outlet; Old Navy; Bed, Bath & Beyond; Burlington Coat Factory; Marshalls; Oshman's SuperSports USA; For Your Entertainment, and COHOES Fashions, which is making its regional debut at Jersey Gardens.

Distinctive Design and Customer Amenities Are Hallmarks

An unequalled depth and range of quality stores and values is just part of what will distinguish Jersey Gardens in a highly competitive shopping market, according to Michael Glimcher, executive vice president of Glimcher. "We planned Jersey Gardens as a special destination where consumers will want to come to shop, have fun, dine and be entertained," he said. "We're bringing that vision to life with a unique physical environment, diverse food and entertainment options for the whole family, and a new standard in customer comfort and services."

Shoppers accustomed to a no-frills approach at outlet centers will notice an immediate difference when entering Jersey Gardens. Created by renowned designer David Rockwell of The Rockwell Group in his first venture into mall design, the interior is highlighted by a striking 50-foot garden wall and a series of large arbors throughout the mall, complemented by skylights on the second floor and a 30' x 10' square-foot window overlooking the Arthur Kill River and Bayonne Bridge on the upper level. "Shopping should be a pleasant experience for all the senses, so we designed an environment with unexpected details - from natural topiary and light to plush, comfortable seating areas and carpeted walkways - that are both stimulating and relaxing," Rockwell said.

Customer service, always a Glimcher priority, is carried to new heights at Jersey Gardens. Shoppers will find numerous amenities unique to a value-oriented mall. Services include two concierge desks for assistance with everything from reservations at Jersey Gardens' restaurants and theatres to transportation arrangements and excursions to other attractions in the region; valet parking as well as frequent shuttle service between Manhattan and nearby Newark Airport, and the convenience of coat and package checking, smart cartes and complementary strollers.

A Shopping and Entertainment Crossroads for the Region

Shoppers won't have to go outside Jersey Gardens to find a range of dining and entertainment appealing to every family member's taste. They can choose from theme restaurants new to the area, including the Rainforest Cafe, Johnny Rockets, the Garage and Bayou Brewing Company and Asian Islands, as well as a cafe-style food court designed for comfort and relaxation. The 11,000 square-foot food court will house eight individual restaurant spaces and offer a creative mix of national and regional cuisine.

Children will be able to enjoy such entertainment options as Jeepers! Family Fun Center, as well as the mall's play area and an exotic treehouse. And every age range will be able to find the latest movie releases with the early spring premiere of Jersey Gardens' flagship Loews 22-screen cinema. Also designed by Rockwell, this new theatre will be a prototype for Loews, offering such innovations as valet parking, dining areas and the option of special, reserved seating that features wider seats and aisles with in-theatre dining.

Jersey Gardens is located in Elizabeth, New Jersey off exit 13A on the New Jersey turnpike. The site is adjacent to the New Jersey turnpike and IKEA, offering exposure to an average of 180,000 cars per day as well as convenient access to all major transportation hubs in the metropolitan New Jersey/New York region. Glimcher is enhancing the convenience of Jersey Gardens' location for area residents and visitors with the construction of a $140 million flyover from the New Jersey turnpike, providing direct access into the mall and its spacious parking areas from exit 13A.

"Jersey Gardens will be a stand-out in the world-class shopping arena that the New York/New Jersey metropolitan area represents," said Herb Glimcher, Chairman, President and CEO, Glimcher Realty Trust. "We anticipate up to 20 million visitors during Jersey Gardens' first year." A total of 21 million people live within a 70-mile radius of Jersey Gardens, with an average household income of approximately $70,000.

Glimcher Realty Trust, a real estate investment trust based in Columbus, Ohio, is a recognized leader in the ownership, management, acquisition and development of enclosed regional and super-regional malls, community shopping centers and value megamalls.