Tanger Announces Plans for an Upscale Outlet Center Development in Phoenix,
Arizona
The Tanger Project Will Bring Phoenix Area Shoppers a Collection of 80 Brand
Name & Designer Outlet Stores
GREENSBORO, N.C., July 9 /PRNewswire-FirstCall/ -- Tanger Factory Outlet
Centers Inc. (NYSE: SKT), one of the nations leading shopping center
companies, is announcing plans to build an upscale outlet shopping center in
the western suburb of Phoenix, Arizona. Strategically located at the South
West quadrant of the 101 Loop & Camelback Road, the new, 330,000 square foot
Tanger Outlet Center will be positioned in one of the fastest growing sections
of the Phoenix market and only 30 minutes from some of the highest household
incomes in the Phoenix Metropolitan area. Tanger entered into a Purchase and
Sale Agreement with HWWCC Development, LLC for the center's 30 acre+ site.
The Tanger location is only 1/4 mile west of major league baseball's
Chicago White Sox and Los Angeles Dodgers' new spring training facilities,
which are currently under construction. The Kansas City Royals and the Texas
Rangers have spring training camps within eight miles of the Tanger site.
Directly adjoining the Phoenix suburb of Glendale, the new Tanger Outlet
Center will also be in close proximity to the University of Phoenix Stadium
home of the NFL's Arizona Cardinals and Jobing.com Arena home of the NHL's
Phoenix Coyotes Hockey team.
"The growing Phoenix market presents us with an excellent opportunity to
expand the Tanger Brand and introduce the Tanger style of great outlet
shopping, direct from the manufacturer, to millions of new, value-minded
customers," stated Stanley K. Tanger, Chairman and Chief Executive Officer of
Tanger Factory Outlet Centers, Inc.
The Tanger Outlet Center in west Phoenix will welcome area residents and
visitors with an upscale collection of 80 brand name and designer outlet
stores where they can shop and save direct from the manufacturer. The
center's modern design will feature a shopper friendly layout that will
function as an open air shopping center. Landscaped courtyards, unique
architectural details and a park-like setting throughout will add to the
ambiance of the new Tanger center. The Tanger Outlet Center is scheduled to
break ground in 2009 and open in 2010.
"We plan to build a world-class outlet shopping attraction that will offer
Phoenix area residents and visitors upscale amenities and a collection of the
world's most popular brand name and designer outlet brands," remarked Steven
B. Tanger, President and Chief Operating Officer of Tanger Factory Outlet
Centers, Inc. "The center's strategic location and easy access to the
region's major highways will make the new Tanger Outlet Center in west Phoenix
convenient to shoppers throughout the Southwest," he added.
Tanger's national portfolio of brand name outlet centers will expand in
2008 with the opening of two new centers. In late August, the Tanger Outlet
Center in Washington, Pennsylvania near Pittsburgh will open. Then in late
October, Tanger will celebrate the Grand Opening of its second center on Long
Island, New York, the Tanger Outlet Center at the Arches in Deer Park.
Tanger Factory Outlet Centers, Inc., (NYSE: SKT) a publicly traded REIT,
presently has ownership interests in or management responsibilities for 31
shopping centers in 22 states coast-to-coast, totaling approximately 9.1
million square feet, leased to over 2,000 stores that are operated by over 400
different store brands. For more information call 800-4-TANGER or visit
www.tangeroutlet.com.
SOURCE Tanger Factory Outlet Centers Inc.
Mike Buescher, Tanger Factory Outlet Centers Inc., +1-336-834-6826
