Thursday, October 13, 2011

Tanger Acquires Outlets at Hershey for $56M

"Tanger Factory Outlet Centers, Inc. has closed on its $56 million acquisition of The Outlets at Hershey, located on Outlet Sq. in Hershey, PA. LMS Commercial Real Estate sold the three-building, 237,618-square-foot retail outlet mall for approximately $236 per square foot.

The Outlets at Hershey sit on 33.7 acres of land adjacent to Hershey Park and Chocolate World in Philadelphia's Harrisburg Area East submarket. The properties were built in 1995, and will reportedly be renamed Tanger Outlets Hershey. The facility was 100 percent occupied at the time of sale."

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