![]() ![]() ![]() As part of the Tanger platform, we will drive additional value by increasing center productivity through selective re-merchandising, elevating the center's food and beverage offerings and adding high performing retail partners."Īsheville Outlets' mix of 70 stores includes top apparel and footwear brands such as Nike, Under Armour, American Eagle, COACH, J.Crew, Vera Bradley, Abercrombie & Fitch, and Bath & Body Works, as well as national home furnishings providers including RH, West Elm, Crate & Barrel and Le Creuset. "Asheville Outlets is the dominant shopping experience in the market and will benefit from the rapidly growing residential population and tourist visits for years to come. Asheville is a dynamic and growing market with outsized potential," said Stephen Yalof, President and CEO of Tanger. "We are excited to add Asheville Outlets to the Tanger portfolio. Management expects the center to deliver a first-year return in the mid-eight percent range, with potential for additional growth over time. The established center is currently 95 percent occupied by a diverse mix of brands that includes leading home furnishings providers as well as iconic apparel, footwear and accessories brands. Asheville Outlets is the second fully owned addition to Tanger's outlet portfolio this quarter, following the grand opening of Tanger Outlets Nashville in Tennessee last month.Īsheville Outlets is a 382,000-square-foot, open-air shopping center located in the popular tourist market of Asheville, North Carolina. Tanger acquired the center for $70 million in an all-cash, off-market transaction, leveraging the company's platform and utilizing its cash holdings and strong balance sheet to create value for all stakeholders. 13, 2023 /PRNewswire/ - Tanger ® (NYSE: SKT), a leading operator of upscale, open-air shopping centers, announced today that it has acquired its 38th shopping center, Asheville Outlets, as part of the continued execution of the company's external growth strategy. With addition of open-air shopping center in popular tourism-focused market Continues to execute external growth strategy ![]()
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