TAMPA, FL—Glimcher Realty Trust is buying the remaining interest in WestShore Plaza in Tampa, FL from its joint venture partner. Specifically, Glimcher will purchase the 60% interest in the mall for $111.8 million.

“Consistent with our long-term growth plan, we are pleased to regain full ownership of WestShore Plaza,” says Michael Glimcher, chairman and CEO of Glimcher. “With sales in excess of $410 per square foot, the center continues to perform well and is positioned for additional growth. In addition to brands like H&M, Macy's, and Victoria's Secret, the center offers one of the best restaurants line ups in the region, which research shows is increasingly important to our shopper.”

Currently, the retail mall is held in a joint venture in which Glimcher holds a 40% interest. The remaining 60% interest is held by an affiliate of Blackstone Real Estate Partners VI. The purchase price will be funded initially by a combination of the proceeds from the sale of Lloyd Center and availability on Glimcher's credit facility.