Tanger Factory Outlet Centers, Inc. ( TANG-?r); is a real estate investment trust headquartered in Greensboro, North Carolina that invests in shopping centers containing outlet stores.
As of December 31, 2017, the company owned 36 shopping centers comprising 12.9 million square feet and over 2,600 stores.
The company's largest tenants are Gap, Ascena Retail Group, Nike, Inc., PVH, H&M, Ralph Lauren Corporation, and VF Corporation.
Notable properties owned by the company include Tanger Outlets The Walk, Tanger Outlets Southaven (Memphis), and Tanger Outlets Pittsburgh.
Video Tanger Factory Outlet Centers
History
In 1981, Stanley Tanger opened the Burlington Manufacturer's Outlet Center in Burlington, North Carolina.
In May 1993, the company incorporated as a real estate investment trust and became a public company via an initial public offering.
In April 1998, the company acquired Dalton Factory Stores in Dalton, Georgia for $17 million.
In September 2002, the company acquired a property in Howell, Michigan for $37.5 million.
In November 2002, the company sold a property in Bourne, Massachusetts for $3.4 million.
In June 2004, the company sold 2 properties in New Hampshire for $7 million.
In January 2009, Steven B. Tanger, the son of the founder and the namesake of the Steven Tanger Center for the Performing Arts, became president and CEO of the company.
In October 2010, the founder died.
In January 2011, the company announced a 50/50 joint venture with RioCan Real Estate Investment Trust to develop outlet malls in Canada.
In June 2011, the company formed a joint venture with Simon Property Group to develop a shopping center south of Houston, Texas.
In October 2015, the company sold 5 shopping centers for $150.7 million.
Maps Tanger Factory Outlet Centers
References
External links
Source of article : Wikipedia
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