Tanger Acquires 382,000-Square-Foot Asheville Outlets in North Carolina for $70 Million

Asheville, N.C. — Tanger has purchased Asheville Outlets, a 382,000-square-foot retail development located in Asheville. Sportsman’s Warehouse and a separately owned Dillard’s Clearance Center anchor the property, which was 95 percent leased at the time of sale. Other tenants include Nike, Under Armour, RH, Bath & Body Works, Crate & Barrel and West Elm. Tanger acquired the outlet mall from New England Development for $70 million. This property marks Tanger’s 38th outlet mall and the second addition to its holdings this quarter, following the opening of Tanger Outlets Nashville last month. New England Development purchased and redeveloped the former indoor regional mall into an outlet mall in 2015. Tanger will rebrand the center as Tanger Outlets Asheville in January 2024.