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Tanger buys outlet center from Simon Property

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Tanger Factory Outlet Centers Inc. said Tuesday it bought an Ohio outlet shopping center from Indianapolis-based Simon Property Group Inc. for $134 million.

Greensboro, N.C.-based Tanger said it used a $150 million bridge loan from Wells Fargo to make the purchase. CEO Steven Tanger said the center "should provide an accretive investment for our shareholders" and marks the company's first outlet center in Ohio.

The Prime Outlets at Jeffersonville has more than 90 stores in five buildings totaling 410,000 square feet.

Simon is making the deal to comply with a Federal Trade Commission requirement. The FTC ordered Simon to divest one of its two outlet centers in southwest Ohio for competition-related reasons last year after Simon acquired Prime Outlets Acquisition Co. for about $2.3 billion.

Shares of Tanger, a real estate investment trust, fell 48 cents, or 1.8 percent, to close at $26.10; while Simon shares rose 28 cents to finish at $114.04.

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  1. I had read earlier this spring that Noodles & Co was going to open in the Fishers Marketplace (which is SR 37 and 131st St, not 141st St, just FYI). Any word on that? Also, do you happen to know what is being built in Carmel at Pennsylvania and Old Meridian? May just be an office building but I'm not sure.

  2. I'm sorry, but you are flat out wrong. There are few tracks in the world with the history of IMS and probably NO OTHER as widely known and recognized. I don't care what you think about the stat of Indy Car racing, these are pretty hard things to dispute.

  3. Also wondering if there is an update on the Brockway Pub-Danny Boy restaurant/taproom that was planned for the village as well?

  4. Why does the majority get to trample on the rights of the minority? You do realize that banning gay marriage does not rid the world of gay people, right? They are still going to be around and they are still going to continue to exist. The best way to get it all out of the spotlight? LEGALIZE IT! If gay marriage is legal, they will get to stop trying to push for it and you will get to stop seeing it all over the news. Why do Christians get to decide what is moral?? Why do you get to push your religion on others? How would legalizing gay marriage expose their lifestyle to your children? By the way, their lifestyle is going to continue whether gay marriage is legalized or not. It's been legal in Canada for quite a while now and they seem to be doing just fine. What about actual rules handed down by God? What about not working on Sundays? What about obeying your parents? What about adultery? These are in the 10 Commandments, the most important of God's rules. Yet they are all perfectly legal. What about divorce? Only God is allowed to dissolve a marriage so why don't you work hard to get divorce banned? Why do you get to pick and choose the parts of the Bible you care about?

  5. Look at the bright side. With the new Lowe's call center, that means 1000 jobs at $10 bucks an hour. IMS has to be drooling over all that disposable income. If those employees can save all their extra money after bills, in five years they can go to the race LIVE. Can you say attendance boost?

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