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Tanger Factory Outlet Centers, Inc. (“Tanger”) (NYSE:SKT) and Gordon Group Holdings,
LLC., announced today that they have entered into an agreement to
develop an upscale outlet center at Foxwoods Resort Casino in
Mashantucket, Connecticut on the Mashantucket Pequot Indian
Reservation.

Foxwoods Resort Casino is the largest casino complex in the United
States by gaming square footage. Foxwoods attracts approximately 16
million annual visitors, an average of more than 40,000 people per day,
making it an ideal new home for Tanger Outlets Foxwoods.

Tanger, along with the Gordon Group, will build, manage and own the
facility. Tanger is a recognized leading owner, developer and manager
of outlet shopping centers in the United States and Canada. Tanger
Outlet Centers are characterized by a tenant mix of leading designer
and brand-name manufacturers. Each center provides a unique opportunity
for customers to purchase a variety of brand-name products for the
entire family directly from the manufacturer at substantial savings.

The proposed 312,000 square foot center at Foxwoods is designed to
efficiently connect the MGM Grand Hotel & Casino and the Grand Pequot
Casino Hotel. The new Tanger Outlet Center will be visible from the two
main entrance ways into the Foxwoods Resort Casino and will also be
accessible internally from the MGM Grand and Grand Pequot casino
floors.

“The opportunity to develop a new outlet center at the largest casino
in the United States, with Sheldon Gordon and his team, was one not to
be missed. Given the approximately 16 million resort visitors per year,
it is no wonder tenant interest has been strong. Tanger’s top retail
partners are looking for growth in dynamic environments and it is our
intent to provide them with great outlet shopping center sites, such as
Foxwoods, to meet their needs,” stated Steven B. Tanger, President and
CEO of Tanger Factory Outlet Centers, Inc.

It is anticipated that this high quality outlet shopping center will
generate over 400 construction positions during the construction phase,
and approximately 900 full-time and part-time jobs in the area when
completed.

About Tanger Outlets:

Tanger Factory Outlet Centers, Inc. (NYSE:SKT) is a publicly-traded
REIT headquartered in Greensboro, North Carolina that operates and
owns, or has an ownership interest in, a portfolio of 39 upscale outlet
shopping centers in 25 states coast to coast and in Canada, totaling
approximately 11.9 million square feet leased to over 2,500 stores
operated by over 430 different brand name companies. More than 175
million shoppers visit Tanger Factory Outlet Centers annually. For more
information on Tanger Outlet Centers, call 1-800-4TANGER or visit the
company’s web site at www.tangeroutlet.com.

About Gordon Group Holdings:

Gordon Group Holdings is renowned as one of the leading specialty
retail development firms in the country. The Gordon Group is associated
with numerous world-class properties, including retail and restaurant
leasing and development representation at The Forum Shops in Las Vegas,
Mohegan Sun Casino, Bridgemarket in New York City, San Francisco
Center, and The Beverly Center in Los Angeles. The Gordon Group has
been recognized over the past 40 years for their award-winning
developments using innovative retailing solutions. The unique formula
of creating spaces pulsing with energy, excitement, and drama is the
hallmark of its destination locations.

Forward Looking Information

This news release contains forward-looking statements within the
meaning of federal securities laws. These statements include, but are
not limited to, the development and opening of a new center and
management’s beliefs, plans, estimates, intentions, and similar
statements concerning anticipated future events, results,
circumstances, performance or expectations that are not historical
facts. These forward-looking statements are subject to risks and
uncertainties, and therefore, actual results could differ materially
from those projected. For a more detailed discussion of the factors
that affect the operating results of the Company, interested parties
should review the Company’s Annual Report on Form 10-K for the fiscal
year ended December 31, 2011. Those factors include, but are not
limited to, the risks associated with general economic and real estate
conditions in The United States and Canada, the Company’s ability to
meet its obligations on existing indebtedness or refinance existing
indebtedness on favorable terms, the availability and cost of capital,
the Company’s ability to lease its properties or to meet its minimum
pre-leasing hurdles on proposed new developments, the Company’s ability
to implement its plans and strategies for joint venture properties it
does not fully control, the Company’s inability to collect rent due to
the bankruptcy or insolvency of tenants or otherwise, and competition.

CONTACT: Quentin Pell
336-834-6827

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