Profile: Tanger Factory Outlet Centers Inc (SKT)
2 Jul 2015
Tanger Factory Outlet Centers, Inc., incorporated on March 3, 1993, is a fully-integrated, self-administered and self-managed real estate investment trust (REIT). The Company focuses on developing, acquiring, owning, operating and managing outlet shopping centers. As of December 31, 2014, the Company's portfolio consisted of 36 outlet centers, with a total gross leasable area of approximately 11.3 million square feet. These outlet centers were occupied and contained over 2,400 stores, representing approximately 380 store brands. The Company also has interests in nine outlet centers totaling approximately 2.6 million square feet, including four outlet centers in Canada.
The outlet centers and other assets are held by, and all of the Company's operations are conducted by, Tanger Properties Limited Partnership and subsidiaries. The Company owns the units of partnership interest issued by the Operating Partnership, through its two wholly owned subsidiaries, Tanger GP Trust and Tanger LP Trust. Tanger GP Trust controls the Operating Partnership as its sole general partner. Tanger LP Trust holds a limited partnership interest.
The Company's consolidated outlet centers range in size from approximately 24,619 to 749,074 square feet and are located at least ten miles from department stores and manufacturer-owned and full-price retail stores. The Company has a tenant base throughout its consolidated portfolio, comprised of approximately 380 different national designer or brand name concepts, such as American Eagle, Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Carters, Coach Leatherware, Eddie Bauer, GAP, J. Crew, Kate Spade, Michael Kors, Nike, Old Navy, Polo Ralph Lauren, Saks Fifth Avenue - Off Fifth, Tommy Hilfiger and Under Armour, among others.
Tanger Factory Outlet Centers Inc
3200 Northline Ave Ste 360
GREENSBORO NC 27408-7612