Tanger Inc.
American real estate investment trust From Wikipedia, the free encyclopedia
American real estate investment trust From Wikipedia, the free encyclopedia
Tanger Inc. is a real estate investment trust headquartered in Greensboro, North Carolina, that invests in shopping centers containing upscale outlet stores in the United States and Canada.
 | |
| Company type | Public company |
|---|---|
| NYSE: SKT S&P 600 component | |
| Industry | Real estate investment trust |
| Founded | 1981 |
| Founder | Stanley Tanger |
| Headquarters | Greensboro, North Carolina |
Key people | - Steven B. Tanger - Chairman - Stephen Yalof - Chief Executive Officer |
| Products | Shopping centers |
| Revenue |  $442.6 million (2022) |
| $201.8 million (2022) | |
| Total assets |  $2.285 billion (2019) |
| Total equity | $456 million (2019) |
Number of employees | 285 (2019) |
| Website | www |
| Footnotes / references [1] | |
As of November 2023, the company owns and manages 38 shopping centers comprising 14.0 million square feet and more than 3,000 stores. [2]
The company's largest tenants are Gap, Ascena Retail Group, Nike, Inc., PVH, H&M, Ralph Lauren Corporation, and VF Corporation.[1]
Notable properties owned by the company include Tanger Outlets The Walk, Tanger Outlets Southaven (Memphis), Tanger Outlets Pittsburgh, and Tanger Outlets Cookstown. [1]
In 1981, Stanley Tanger opened the Burlington Manufacturer's Outlet Center in Burlington, North Carolina.[3]
In May 1993, the company was incorporated as a real estate investment trust and became a public company via an initial public offering.[4]
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.[3] That same year, in September, founder Stanley K. Tanger resigned from the position of chairman.[5]
In October 2010, the founder died at age 87.[3][5][6]
In January 2011, the company announced a 50/50 joint venture with RioCan Real Estate Investment Trust to develop outlet malls in Canada.[7] In June 2011, the company formed a joint venture with Simon Property Group to develop a shopping center south of Houston, Texas.[8]
In October 2015, the company sold 5 shopping centers for $150.7 million.[9] In April 2019, the company sold 4 shopping centers to Singerman Real Estate and The Outlet Resource Group for $130.5 million.[10]
In October 2023, the company opened its newest center in Nashville, Tennessee.[11]
In November 2023, Tanger announced its purchase of Asheville Outlets in Asheville, North Carolina.[12]
In December 2023, Tanger purchased Bridge Street Town Centre in Huntsville, Alabama.[13]
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