It seems that the purchase of the Malibu Lumber Yard in Malibu has turned out to be a good move for Glimcher Realty.
Total revenue for the company in the second quarter of 2013 came out to $96.7 million, compared to $77.1 million in the same period of 2012, according MarketWatch.com.
The $19.6 million increase was attributed to the purchase of the Malibu Lumber Yard and other properties in Kansas, Texas and Hawaii, the website reported.
Glimcher purchased the leasehold interest in the Malibu Lumberyard from Malibu Lumber LLC for $35.5 million last June.
A representative for the company told Malibu Patch in March that the company hopes to lease out 1,700 square feet of available space over the next several months.
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