Tanger Outlets just announced it is acquiring the Asheville Outlets as part of the company's growth strategy.
In a release, Tanger reported the center was purchased in an off-market transaction for $70 million in cash.
In a statement, Tanger says they plan to elevate the center’s food and beverage offerings and add high-performing retail partners.
"We are excited to add Asheville Outlets to the Tanger portfolio. Asheville is a dynamic and growing market with outsized potential," said Stephen Yalof, President and CEO of Tanger. "Asheville Outlets is the dominant shopping experience in the market and will benefit from the rapidly growing residential population and tourist visits for years to come. As part of the Tanger platform, we will drive additional value by increasing center productivity through selective re-merchandising, elevating the center's food and beverage offerings and adding high-performing retail partners."
In a statement to News 13, a spokesperson said, "Tanger is excited to join the Asheville community! Effective Nov. 13, Asheville Outlets is now owned and operated by Tanger. Shoppers can continue to expect access to best-in-class stores, events and programming. Tanger plans to expand collaborations with iconic brands as well as locally owned businesses, further positioning the center as a destination that celebrates community and culture. The center will officially be renamed Tanger Outlets Asheville in January 2024."
STORY & PHOTO COURTESY OF ABC 13 WLOSTanger acquires Asheville Outlets in $70 million deal, plans to enhance shopping experience | WLOS
