Tanger Announces Acquisition of Asheville Outlets in Asheville, North Carolina
GREENSBORO, N.C., Nov. 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. 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. 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.
- 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.
- Asheville Outlets is a 382,000-square-foot, open-air shopping center located in the popular tourist market of Asheville, North Carolina.
- Asheville Outlets benefits from proximity to the area's top attractions, including The Biltmore Estate, Blue Ridge Parkway, and the Grove Park Inn and North Carolina Arboretum.
- Tanger will officially transition the center to become Tanger Outlets Asheville in early January 2024, leveraging the Tanger name, brand and platform to further strengthen leasing, sales and traffic for the center.