Tanger Factory Outlet Centers, Inc., (NYSE:SKT) is a publicly-traded REIT headquartered in Greensboro, North Carolina that upon closing of this transaction will operate and own, or have an ownership interest in, a portfolio of 35 upscale outlet shopping centers in 23 states coast-to-coast, totaling approximately 10.7 million square feet, leased to over 2,200 stores that are operated by more than 370 different brand name companies. More than 160 million shoppers visit Tanger Outlet Centers annually. For more information on Tanger Outlet Centers, call 1-800-4-TANGER or visit our website at This news release contains forward-looking statements within the meaning of federal securities laws. We believe that Tanger's long history of attracting fresh and valued brands, along with our outlet center-specific, highly successful marketing programs, will bring great value to this exciting property."Ībout Tanger Factory Outlet Centers, Inc. "This acquisition should provide an accretive investment for our shareholders, and as Tanger's first outlet center in the state of Ohio, it will also expand our geographic footprint. Tanger, President and Chief Executive Officer. "We are pleased to acquire the Jeffersonville asset with its excellent location and high quality line-up of retailers," stated Steven B.
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The acquisition of the Jeffersonville center was made free and clear of any mortgage indebtedness, and therefore, Tanger funded the total purchase price with borrowings under the company's recently transacted $150 million bridge loan with Wells Fargo. More than 90% of the space is currently leased to high-quality, nationally recognized tenants many of which are well-known to Tanger Outlet Centers' shoppers. Crew, Gap, Kate Spade, Levi's, Nike, Old Navy, Polo Ralph Lauren, Pottery Barn, Tommy Hilfiger and Under Armour, to name just a few. Situated on two major Ohio highways, I71 (North/South) and Route 35 (East/West) with excellent visibility, Tanger Outlets at Jeffersonville is expected to benefit from high traffic counts and an unusually large residential population of nearly 4.4 million within a 60 mile radius, close to 40% of Ohio's population base.Ĭurrently 97% leased, the center has key tenants such as Ann Taylor, Banana Republic, Brooks Brothers, Coach, J. The center, which will be rebranded Tanger Outlets at Jeffersonville, currently houses over 90 upscale designer and brand name stores within five buildings on approximately 50 acres.
The property is Ohio's largest outlet shopping center, centrally located in the tri-city area of Cincinnati, Columbus and Dayton, and measures approximately 410,000 square feet. (NYSE:SKT) announced today the acquisition of Prime Outlets at Jeffersonville from Ohio Factory Stores Partnership, a subsidiary of Indiana-based Simon Property Group (NYSE:SPG), for a purchase price of $134 million. GREENSBORO, N.C., J(GLOBE NEWSWIRE) - Tanger Factory Outlet Centers, Inc.
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