Tanger Inc.
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 open air outlet and lifestyle shopping centers 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 March 31, 2025, the company owns and manages 37 outlet centers, one adjacent managed center, and three open-air lifestyle centers across the US and Canada comprising over 16 million square feet and more than 3,000 stores operated by more than 700 different brand name companies. [2]
Some of the company's largest tenants include Gap, Knitwell Group, Tapestry Inc., Nike, Inc., PVH, Under Armour, American Eagle Outfitters, H&M, and Ralph Lauren Corporation .[1][3]
Notable properties owned by the company include Tanger Outlets The Walk, Tanger Outlets Southaven (Memphis), and Tanger Outlets Pittsburgh[1]
History
Summarize
Perspective
In 1981, Stanley Tanger opened the Burlington Manufacturer's Outlet Center in Burlington, North Carolina.[4]
In May 1993, the company was incorporated as a real estate investment trust and became a public company via an initial public offering.[5]
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.[4] That same year, in September, founder Stanley K. Tanger resigned from the position of chairman.[6]
In October 2010, the founder died at age 87.[4][6][7]
In January 2011, the company announced a 50/50 joint venture with RioCan Real Estate Investment Trust to develop outlet malls in Canada.[8] In June 2011, the company formed a joint venture with Simon Property Group to develop a shopping center south of Houston, Texas.[9]
In October 2015, the company sold 5 shopping centers for $150.7 million.[10] In April 2019, the company sold 4 shopping centers to Singerman Real Estate and The Outlet Resource Group for $130.5 million.[11]
Beginning in 2020, Tanger commenced a management succession plan and full refreshment of its executive management team with the appointment of Stephen Yalof as president and eventual CEO.[12] As of March 2025, the company's management team also included Michael Bilerman as Executive Vice President, Chief Financial Officer and Chief Investment Officer; Leslie Swanson as Executive Vice President, Chief Operating Officer; Jessica Norman as Executive Vice President, General Counsel and Secretary; Justin Stein as Executive Vice President, Leasing; and Thomas Guerrieri, Jr. as Senior Vice President, Chief Accounting Officer.[13]
In October 2023, the company opened its newest outlet center in Nashville, Tennessee.[14]
In November 2023, Tanger announced its purchase of Asheville Outlets in Asheville, North Carolina.[15]
In December 2023, Tanger purchased Bridge Street Town Centre in Huntsville, Alabama.[16] The company has since purchased two additional open air lifestyle centers, including The Promenade at Chenal in Little Rock, AR, in December 2024,[17] and Pinecrest in Cleveland, OH, in February 2025.[18]
References
External links
Wikiwand - on
Seamless Wikipedia browsing. On steroids.