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Innovative shopping destination scheduled to open fall 2023
NASHVILLE, Tenn., May 17, 2022 /PRNewswire/ -- Tanger Factory Outlet Centers, Inc. (NYSE: SKT), a leading operator of upscale open-air outlet centers, joined Nashville city officials and dignitaries today for the groundbreaking of its newest center, Tanger Outlets Nashville. The six-building, 290,000-square-foot open-air outlet shopping center, located along I-24 at the Century Farms development, is slated to open in fall 2023 on a 32-acre parcel. Tanger Outlets Nashville will bring best-in-class offerings and experiences, providing a reimagined outlet shopping destination that reflects the vibrancy of the area, while serving as a gathering place for locals and visitors to the greater Nashville community.
A leader in the retail industry over the past four decades, Tanger is recognized for its relationships with iconic brands, creating memorable shopping experiences and building relationships with artists, restaurateurs and influencers to bring bold, new dimension to its collection of retail and brand partners. The outlet shopping leader's new Nashville location will house a rich roster of more than 70 brands, including digitally native companies and popular local concepts.
"Tanger wholeheartedly believes in the Nashville market, and we are proud to deliver the city's first open-air outlet shopping experience," said Stephen Yalof, CEO of Tanger Outlets. "We build our centers with future generations in mind, and Tanger Outlets Nashville will serve as an experience hub, immersing guests in all that Tanger represents – from best-in-class brands to partnerships with local causes, to celebrating community and culture in an inviting environment. The center will also be steeped in Nashville flavor, with special attention to iconic entertainment and local dining favorites."
Tanger Outlets Nashville will help play an important role as an economic driver to Davidson County, while helping further a sense of community around the Century Farms development. Tanger partners will employ approximately 700 jobs during construction, and the development will create approximately 1,100 full- and part-time retail and management positions upon completion.
Through innovative partnerships and a core value to consider community first, Tanger is committed to creating a welcoming environment specifically designed to serve the Nashville community, along with the philanthropic and sustainable causes close to its heart. Tanger Outlets Nashville will amplify the company's emphasis on engaging the support of its customers to invest back in the local community and champion for causes that matter to them – from education to cancer research to protecting the environment. Tanger kicks off its philanthropic support in Nashville with a donation to Friends of Mill Ridge Park, a destination park that welcomes the diverse community of Southeast Davidson County with programs and services for outdoor recreation, education, conservation and cultural enrichment.
The groundbreaking ceremony for Tanger Outlets Nashville included area dignitaries and community leaders who gathered to officially kick off construction of the project and commemorate business partnerships forged at the local, regional and state levels.
Tanger Outlets Nashville will be the third Tennessee market served by Tanger Outlets, with sister centers covering the Sevierville and Memphis communities.
About Tanger Factory Outlet Centers:
Tanger Factory Outlet Centers, Inc. (NYSE: SKT) is a leading operator of upscale open-air outlet centers that owns, or has an ownership interest in, a portfolio of 36 centers. Tanger's operating properties are located in 20 states and in Canada, totaling approximately 13.6 million square feet, leased to over 2,600 stores operated by more than 600 different brand name companies. The Company has more than 41 years of experience in the outlet industry and is a publicly traded REIT.
This news release contains forward-looking statements within the meaning of federal securities laws. These statements include, but are not limited to, the development and opening of a new center, the number of jobs expected to be generated, and management's beliefs, plans, intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. These forward-looking statements are subject to risks and uncertainties, and therefore, actual results could differ materially from those projected. For a more detailed discussion of the factors that affect the operating results of the Company, interested parties should review the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2021.
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SOURCE Tanger Factory Outlet Centers, Inc.