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Archive for Thursday, May 23, 1996

TANGER EXPANSION SLOWED

May 23, 1996

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The Tanger Outlet Center has taken possession of the former Consolidated Lumber property at the south end of the shopping center, but Tanger does not intend to begin construction of its second phase until 1997.

"The acquisition of the land means we are moving ahead in phases to complete the planned expansion," said Sonya Woertz, general manager of the Lawrence center. "Within the next few weeks, we will actually be completing demolition of the buildings and clearing the land."

The phase two project will encompass 5.36 acres, making room for an estimated 10 stores in about 58,000 square feet of new retail space.

Beth Lippincott, director of leasing at Tanger's corporate headquarters in Greensboro, N.C., said no tenants have been secured for the second phase yet.

Originally, the new stores were scheduled to open this summer. Lippincott said the second phase has been delayed because they couldn't immediately get possession of the property and they haven't been able to line up tenants for the new stores yet.

"We are working on it every day. The construction schedule is driven by the tenants, so I can not say exactly when the construction will start or when the stores will open," Lippincott said.

Corporate leasing executives are considering a new theme for the second phase. Lippincott said a recent trend in factory outlet centers involves integrating several restaurants or entertainment businesses with the retail stores. A movie theater opened this week at a Tanger Outlet Center in North Branch, Minn.

"This was our first theater, and it has been a tremendous success," she said.

"In addition to outlet retail stores, we are considering food, entertainment and the big box users, which are the large speciality stores such as Toys R Us and Borders Books."

Tanger Factory Outlet Center, which opened in November 1993, is located at the intersection of North Third Street and the Kansas Turnpike Access Road. The company has 27 factory outlet centers in operation in 22 states.

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