Tanger Outlet Centers Acquires Prime Outlets at Jeffersonville, Ohio

Tanger Factory Outlet Centers, Inc. SKT announced today the acquisition of Prime Outlets at Jeffersonville from Ohio Factory Stores Partnership, a subsidiary of Indiana-based Simon Property Group SPG, for a purchase price of $134 million. The property is Ohio's largest outlet shopping center, centrally located in the tri-city area of Cincinnati, Columbus and Dayton, and measures approximately 410,000 square feet. The center, which will be rebranded Tanger Outlets at Jeffersonville, currently houses over 90 upscale designer and brand name stores within five buildings on approximately 50 acres. Situated on two major Ohio highways, I71 (North/South) and Route 35 (East/West) with excellent visibility, Tanger Outlets at Jeffersonville is expected to benefit from high traffic counts and an unusually large residential population of nearly 4.4 million within a 60 mile radius, close to 40% of Ohio's population base.