July 6th, 2011Companies to jointly develop outlet mall
Texas City, TX — Setting aside a longtime retail rivalry, Tanger Factory Outlet Centers and Simon Property Group confirmed weeks of speculation they would co-develop a 90-store outlet mall in Texas City.
The joint venture marks the first time the competitors, who just days apart in January announced they would build large outlet malls in different parts of the county, have worked together on a retail project.
“It’s unprecedented, and we’re very excited about it,” Tanger spokeswoman Mona Delia said.
The mall, to be branded as Tanger Outlets, will be built on a 55-acre site along Interstate 45, south of Holland Road, where Indianapolis, Ind.-based Simon had already planned to build its project.
The land is between Holland Road and Walmart and was previously part of the plan for Lago Mar, a 7,000-home residential development sidelined by the real estate bust.
Greensboro, N.C.-based Tanger had planned to build a 95-store outlet mall on 35 acres west of I-45 between the Big League Dreams sports complex and the Bay Colony Shopping Center in League City. But the land deal Tanger had hoped to forge fell through.
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