tanger factory outlet center (SKT) Key Developments
Tanger Factory Outlet Centers Inc. and Poag Shopping Centers to Celebrate Ground Breaking Ceremony of New Tanger Outlets
Jan 29 15
Tanger Factory Outlet Centers Inc. and Poag Shopping Centers, LLC to celebrate the Ground Breaking Ceremony of the new Tanger Outlets this spring on March 13. The ceremony will include city and state officials as well as local community leaders. Work is currently well underway at the site located in Southaven, Mississippi and guests will view the progress in person at this official ceremony. During the construction phase of the project, Tanger will create an estimated 400 construction jobs and once complete, the center will create over 900 full and part-time positions. The center is expected to generate approximately $7.5 million in additional sales tax annually. The site of this new Tanger Outlets located in Southaven, MS just 4.5 miles from Memphis, TN at the Northeast quadrant of I-69/55 and Church Road. This dynamic location offers great visibility along I-69/55, which sees traffic from 47,000 to 57,000 cars daily. Phase One will deliver approximately 310,000 square feet of gross leasable space to the market expected to house more than 70 upscale brand name and designer outlet stores.
Tanger Factory Outlet Centers, Inc. Partners with Poag Shopping Centers, LLC to Develop Tanger Outlets Memphis
Jan 16 15
Tanger Factory Outlet Centers Inc. has announced plans to develop Tanger Outlets Memphis in partnership with Poag Shopping Centers, LLC. The partnership plans to commence construction immediately and open for the 2015 holiday season. The partners plan to initially deliver approximately 310,000 square feet of space to house around 70 upscale brand name and designer outlet stores.
Tanger Factory Outlet Centers Inc. Plans to Build the Tanger Outlets Memphis in Southhaven
Jan 8 15
Tanger Factory Outlet Centers Inc. announced that it plans to build the Tanger Outlets Memphis at the northeast quadrant of I-69/55 and Church Road in Southhaven. The company is partnering with Memphis-based developer Poag Shopping Centers LLC.
Tanger Factory Outlet Centers Inc. Declares Dividend for the Fourth Quarter Ending December 31, 2014, Payable on February 13, 2015
Jan 8 15
Tanger Factory Outlet Centers Inc. announced that its Board of Directors declared a quarterly dividend of $0.24 per share for the fourth quarter ending December 31, 2014. A cash dividend of $0.24 per share will be payable on February 13, 2015 to holders of record on January 30, 2015.
Tanger Factory Outlet Centers, Inc. Closes the Issuance of $250 Million in 3.75% Senior Notes Due 2024
Nov 21 14
Tanger Factory Outlet Centers Inc. announced that it closed on the issuance of $250 million in 3.75% senior notes due 2024, the proceeds of which will be used to redeem $250 million in 6.15% senior notes due November 15, 2015. The early redemption of the 2015 Notes is expected to occur on December 15, 2014. In connection with the redemption of the 2015 Notes, the company expects to take a charge in the fourth quarter of 2014, currently estimated to be approximately $13.2 million, representing the make-whole premium to be paid for the early redemption of the 2015 Notes. The charge will impact the company's net income and funds from operations for the fourth quarter and year end December 31, 2014, but will have no impact on the company's adjusted funds from operations for the same periods.