Tanger to Build Upscale Outlet in Texas

Tanger to Build Upscale Outlet in Texas
March 13, 2008

Greensboro, N.C.-based Tanger Factory Outlet Centers Inc. announced plans to build an upscale outlet shopping center in Irving, Texas--its third in the state. The new 380,000-sq.-ft. Tanger center will be strategically located at the north west quadrant of State Highway 114 and Loop 12, and will be the first major project planned for the Texas Stadium Redevelopment Area. The site is also adjacent to the upcoming DART light rail line (and station stop) connecting downtown Dallas to the Las Colinas Urban Center, the Irving Convention Center and the Dallas/Fort Worth Airport. Tanger recently entered into a purchase and sale agreement with the University of Dallas for the center's 50-acre site. The Tanger Outlet Center in Irving will include an upscale collection of 90 brand-name and designer outlet stores. The center's modern design will feature a shopper-friendly racetrack layout that will function as an open-air shopping center with both covered and uncovered walkways. Other features include landscaped courtyards, architectural details and a park-like setting. "The outlet industry has dramatically evolved since we built our first generation of strip-style outlets, such as the Tanger Outlet Center in Terrell, Texas," said Steven B. Tanger, president and COO of the company. "The design of our newest generation of Tanger centers in Myrtle Beach and Charleston, S.C., and Wisconsin Dells, Wis., provide a great example of the type of premier, upscale outlet shopping center Tanger will build in Irving." Tanger Factory Outlet Centers presently has ownership interests in or management responsibilities for 31 shopping centers in 22 states coast-to-coast, totaling approximately 9.1 million sq. ft., leased to more than 2,000 stores that are operated by more than 400 different store brands.