Type | Public company |
---|---|
NYSE: SKT S&P 600 component | |
Industry | Real estate investment trust |
Founded | 1981 |
Founder | Stanley Tanger |
Headquarters | Greensboro, North Carolina |
Key people | - Steven B. Tanger - Chairman - Stephen Yalof - Chief Executive Officer |
Products | Shopping centers |
Revenue | $442.6 million (2022) |
$201.8 million (2022) | |
Total assets | $2.285 billion (2019) |
Total equity | $456 million (2019) |
Number of employees | 285 (2019) |
Website | www |
Footnotes /references [1] |
Tanger Factory Outlet Centers, Inc. is a real estate investment trust headquartered in Greensboro, North Carolina that invests in shopping centers containing upscale outlet stores in the United States and Canada.
As of November 2023, the company owns/manages 38 shopping centers, comprising of 14.0 million square feet and more than 3,000 stores. [2]
The company's largest tenants are Gap, Ascena Retail Group, Nike, Inc., PVH, H&M, Ralph Lauren Corporation, and VF Corporation. [1]
Notable properties owned by the company include Tanger Outlets The Walk, Tanger Outlets Southaven (Memphis), Tanger Outlets Pittsburgh, Tanger Outlets Foxwoods, Tanger Outlets Ottawa and Tanger Outlets Columbus. [1]
In 1981, Stanley Tanger opened the Burlington Manufacturer's Outlet Center in Burlington, North Carolina. [3]
In May 1993, the company incorporated as a real estate investment trust and became a public company via an initial public offering. [4]
In January 2009, Steven B. Tanger, the son of the founder and the namesake of the Steven Tanger Center for the Performing Arts, became president and CEO of the company. [3] That same year in September, founder Stanley K. Tanger resigned the position of chairman. [5]
In October 2010, the founder died at age 87. [3] [5] [6]
In January 2011, the company announced a 50/50 joint venture with RioCan Real Estate Investment Trust to develop outlet malls in Canada. [7] In June 2011, the company formed a joint venture with Simon Property Group to develop a shopping center south of Houston, Texas. [8]
In October 2015, the company sold 5 shopping centers for $150.7 million. [9] In April 2019, the company sold 4 shopping centers to Singerman Real Estate and The Outlet Resource Group for $130.5 million. [10]
In October 2023 the company opened its newest center in Nashville, Tennessee. [11]
GGP Inc. was an American commercial real estate company and the second-largest shopping mall operator in the United States. It was founded by brothers Martin, Matthew and Maurice Bucksbaum in Cedar Rapids, Iowa in 1954, and was headquartered in Chicago, Illinois from 2000. It was subject to the largest real estate bankruptcy in American history at the time of its filing in 2009.
Simon Property Group, Inc. is an American real estate investment trust that invests in shopping malls, outlet centers, and community/lifestyle centers. It is the largest owner of shopping malls in the United States and is headquartered in Indianapolis, Indiana. Worldwide, it owns interests in 232 properties as of 2021.
Forest City Realty Trust, Inc., formerly Forest City Enterprises, was a real estate investment trust that invested in office buildings, shopping centers and apartments in Boston, Chicago, Dallas, Denver, Los Angeles, Philadelphia, and the greater metropolitan areas of New York City, San Francisco and Washington, D.C. The company was organized in Maryland with its headquarters in Cleveland, Ohio. As of December 31, 2017, the company owned 29 office buildings, 29 shopping centers, and 78 apartment complexes. On December 7, 2018, the company was acquired by Brookfield Asset Management.
SITE Centers Corp. is a publicly traded real estate investment trust that invests in shopping centers. Founded in 1965 by Bert Wolstein, the company is headquartered in Beachwood, Ohio. As of December 31, 2019 the company owned interests in 170 shopping centers in the United States containing 57.0 million square feet and managed 13.2 million square feet for Retail Value Inc. Notable properties wholly owned by the company include Shopper's World in Framingham, Massachusetts. Its major tenants include retailers such as TJX Companies, PetsMart, Dick's Sporting Goods, Ulta Beauty, Ross Stores, and Nordstrom.
Taubman Centers, Inc. is an American real estate investment trust headquartered in Bloomfield Hills, Michigan. The company invests in shopping centers, and is a subsidiary of Simon Property Group since 2020.
RioCan Real Estate Investment Trust is the second-largest real estate investment trust (REIT) in Canada. It has an enterprise value of approximately $14 billion, and owns 289 primarily retail properties, with a net leasable area of 44 million square feet. The company properties are located across Canada. The current chief executive officer is Jonathan Gitlin.
CBL Properties is an American real estate investment trust that invests in shopping centers and owns shopping malls, primarily in the Southeastern and Midwestern United States. The company is organized in Delaware with its headquarters in Chattanooga, Tennessee. The company's largest tenants are L Brands, Signet Jewelers, and Foot Locker.
Pecanland Mall is an enclosed shopping mall in Monroe, Louisiana. The mall was named Pecanland because the land on which the mall is located was formerly a pecan farm. The mall is on Interstate 20 near U.S. Highway 165, the two major highways in the area.
Cedar Realty Trust, Inc. is a publicly traded real estate investment trust that invests in shopping centers in the Mid-Atlantic states.
Liberty Property Trust was a real estate investment trust that invested in office buildings and industrial properties. As of December 31, 2017, the company owned interests in 461 industrial and 48 office properties comprising 86.0 million square feet.
Regency Centers Corporation is a real estate investment trust based in Jacksonville, Florida and is one of the largest operators of shopping centers with grocery stores as anchor tenants. As of October 21, 2020, the company owned 415 properties comprising 56 million square feet of space. Notable properties owned by the company include Serramonte Center and a 30% interest in Village District.
Glimcher Realty Trust was a real estate investment trust based in Columbus, Ohio that invested in shopping malls. In 2015, the company was acquired by Washington Prime Group.
RPT Realty, formerly known as RAMCO Properties Trust and Ramco-Gershenson Properties Trust, is a publicly traded real estate investment trust that owns and operates open-air shopping centers. As of August 4, 2021, the company owned 50 shopping centers comprising 12.6 million square feet.
Healthpeak Properties, Inc. is an American real estate investment trust that invests in real estate related to the healthcare industry including senior housing, life science, and medical offices. It is organized 2007 in Maryland and headquartered in Denver, Colorado with offices in Irvine, Nashville and San Francisco. As of December 31, 2019, the company owned interests in 617 properties.
Cousins Properties Incorporated is a publicly traded real estate investment trust (REIT) that invests in office buildings in Atlanta, Charlotte, Austin, Phoenix, Tampa, and Chapel Hill, North Carolina. The company has developed notable properties including CNN Center, Omni Coliseum, 191 Peachtree Tower, and Emory Point in Atlanta.
Starwood Capital Group is an investment firm headquartered in Miami Beach, Florida. It is managed by Barry Sternlicht. It was co-founded by Sternlicht and Robert Faith in 1991. In 1993, Faith left Starwood to found Greystar Real Estate Partners.
Stanley K. Tanger was an American businessman, philanthropist and pioneer of the outlet shopping industry. Tanger founded Tanger Factory Outlet Centers, which began with a single location in Burlington, North Carolina in 1981, and now has 45 shopping centers throughout the United States and Canada as of April 2015. In doing so, he invented "the very concept of the outlet mall", according to the News & Record of Greensboro, North Carolina. Tanger Outlets grossed $270 million in 2009.
Prologis, Inc. is a real estate investment trust headquartered in San Francisco, California that invests in logistics facilities. The company was formed through the merger of AMB Property Corporation and Prologis in June 2011, which made Prologis the largest industrial real estate company in the world. As of December 2022, the company owned 5,495 buildings comprising about 1.2 billion square feet in 19 countries across North America, Latin America, Europe, and Asia. According to The Economist, its business strategy is focused on warehouses that are located close to huge urban areas where land is scarce. It serves about 6,600 tenants. Prologis began to expand its non-real estate business, Essentials, in 2022, offering customers solar power, racking systems, forklifts, generators, and EV charging infrastructure. and other logistics tech equipment for purchase.
Brixmor Property Group is a publicly traded Real Estate Investment Trust that primarily invests in shopping malls. They own and operate over 400 open-air shopping centers totaling over 73 million square feet of retail space. Brixmor Property Group is the real estate broker to over 5,000 companies in the United States including: the TJX Companies, Kroger, Publix Super Markets, Walmart, Ross Stores, and LA Fitness. Brixmor was started in Maryland and is now headquartered in New York City.
Federal Realty Investment Trust is a real estate investment trust that invests in shopping centers in the Northeastern United States, the Mid-Atlantic states, California, and South Florida.