Glimcher Realty Trust (GRT) is a self-administered and self-managed real estate investment trust (REIT) and its affiliates, of owning, leasing, acquiring, developing and operating a portfolio of retail properties consisting of regional and super regional malls, and community shopping centers. GRT is engaged in the ownership, management, acquisition and development of malls, which includes enclosed regional malls and open-air lifestyle centers, as well as community centers. At December 31, 2010, the Properties consisted of 23 Malls (18 wholly-owned and five partially owned through joint ventures) containing 20.5 million square feet of gross leasable area (GLA) and four Community Centers (three wholly owned and one partially owned through a joint venture) containing 779,000 square feet of GLA. As of December 31, 2010, the occupancy rate for all of the Properties was 94.6% of GLA. Occupied GLA was leased at 81.8%, 9.7%, and 8.5% to national, regional, and local retailers, respectively.