Tanger, based in Greensboro, is experiencing continued growth with the recent acquisition of its 39th shopping center and third new property within the past month. The company paid $193.5 million in an all-cash deal for Bridge Street Town Centre in Huntsville, Alabama. This 825,000-square-foot open-air lifestyle center boasts over 80 retail stores, restaurants and entertainment venues and is currently at a high occupancy rate of 93%. With a first-year return projected to be in the mid-eight percent range and potential for future growth opportunities.
The tenant mix at Bridge Street Town Centre includes popular brands such as Apple Store, Lululemon, Sephora , Lovesac , Dry Goods , Victoria’s Secret , Athleta along with larger format retailers like Barnes & Noble,Dick’s Sporting Goods Old Navy,H&M,and Belk . In addition to these offerings,the center also features over two dozen dining options including Main Eventand Cinemark Bridge Street’s14-screen theater.
This latest addition adds to Tanger’s expanding portfolio without mentioning any specific names or locations that may not be relevant or beneficial from an SEO standpoint.
