Tanger Inc.
| Company type | Public company |
|---|---|
| Industry | Real estate investment trust |
| Founded | 1981 |
| Founder | Stanley Tanger |
| Headquarters | Greensboro, North Carolina , United States |
Area served | United States and Canada |
Key people | Stephen Yalof (President and CEO), Michael Bilerman (CFO & CIO), Leslie Swanson (COO), Jessica Norman (General Counsel), Justin Stein (Executive VP of Leasing), Thomas Guerrieri Jr. (Chief Accounting Officer) |
| Products | Management of open-air outlet and lifestyle shopping center properties |
Tanger Inc. operates as a real estate investment trust with its main office located in Greensboro, North Carolina. The company focuses on managing open-air outlet and lifestyle shopping center properties throughout the United States and Canada.
By March 31, 2025, Tanger's portfolio comprised 37 outlet centers, an additional adjacent managed center, and three open-air lifestyle centers. Collectively, these properties encompass more than 16 million square feet and house over 3,000 retail stores representing upwards of 700 well-known brands.
Among the principal retailers are Gap, Tapestry Inc., Nike, Inc., PVH, Under Armour, American Eagle Outfitters, H&M, and Ralph Lauren Corporation. Prominent locations within Tanger’s holdings include Tanger Outlets The Walk, Tanger Outlets Southaven (Memphis), and Tanger Outlets Pittsburgh.
History
The company was established in 1981 by entrepreneur Stanley Tanger with the launch of the Burlington Manufacturer's Outlet Center in North Carolina. It became a publicly traded REIT following its initial public offering in May 1993.
A notable acquisition was the Kensington Valley Factory Shops in Michigan in 2002. Leadership changed hands in 2009 when Stanley Tanger’s son, Steven B. Tanger, assumed the role of CEO. After Stanley Tanger passed away in 2010, Tanger pursued further expansion through partnerships such as joint ventures with RioCan Real Estate Investment Trust for growth in Canada (2011) and with Simon Property Group to develop properties near Houston, Texas (2011).
To refine its asset base, Tanger sold five shopping centers for $150.7 million in 2015 and later four centers for $130.5 million in 2019.
In 2020, a leadership transition took place with Stephen Yalof appointed as president and CEO. As of March 2025, the executive leadership team includes Michael Bilerman serving as CFO & CIO, Leslie Swanson as COO, Jessica Norman as General Counsel, Justin Stein as Executive Vice President of Leasing, and Thomas Guerrieri Jr. as Chief Accounting Officer.
Recent growth initiatives involve opening new outlet centers such as the Nashville location in 2023 and acquiring properties including Asheville Outlets for $70 million (2023), Bridge Street Town Centre in Huntsville for $193 million (2023), The Promenade at Chenal in Little Rock (2024), and Pinecrest in Cleveland (2025). These efforts have enhanced Tanger’s presence within the open-air lifestyle retail sector.
These strategic developments align with Tanger’s core business approach of delivering high-quality outlet shopping environments aimed at a diverse customer demographic while expanding market share through targeted acquisitions and collaborative ventures.