Lawsuit blasts Merrimack Premium Outlets

With blasting set to start any day at Merrimack Premium Outlets, a town resident, concerned over water testing, has filed a lawsuit against the developer seeking to stop the work before it starts.

Michael Mills, who lives within 500 feet of the 130-store outlet mall under construction off Industrial Drive, filed suit Monday against Premium Outlets, a division of the Simon Property Group, alleging the development firm has strayed from the water testing conditions required under the project’s development agreement.

The developer and its consultants have failed to adhere to the timing, schedule and placements of the tests, outlined in the operations and management plan, approved by the town Planning Board in 2008, Mills claims in the suit, filed in Hillsborough County Superior Court in Nashua. The lapses have left the town without legal recourse should the project affect the area’s water supply, Mills said.

Premium Outlet representatives did not return calls for comment Wednesday . A court hearing is scheduled Nov. 10.

Ann Taylor takes over 40 Liz Claiborne locations

One brand's loss is another's gain. To achieve a stronger foothold in the off-price world, women's retailer AnnTaylor Stores Corp. will take over 40 factory outlets being closed by apparel brand Liz Claiborne Inc.

Ann Taylor announced the move Thursday, adding that 35 of the spots will be branded as Ann's lower-priced Loft division, while five will house the company's namesake Ann Taylor merchandise.

“We had identified our highly productive factory outlet channel as an area for future growth, particularly for our Loft brand,” Ann Taylor Chief Executive Kay Krill said in a statement. “This extraordinary opportunity to open premium store locations significantly and efficiently accelerates our planned expansion and represents meaningful growth for our very successful Loft outlet business.”

Big crowds at The Shops of Grand River opening.

The Shops of Grand River opened to big crowds yesterday, but officials say they hope it's only the beginning of the traffic -- and sales tax dollars -- generated by the new outlet mall in Leeds.

Parking lots were filling up as officials cut the ribbon on the 330,000-square-foot development shortly before 10 a.m.

After that, lines formed outside some stores as shoppers filed in, picking up opening-day freebies. Water bottles at Nike and chocolates at Ghirardelli were among the bounty.

Many shoppers were from across metro Birmingham, checking out the latest addition to the area's retail scene. It was a diverse crowd, including retirees and young moms pushing strollers.

Mad Money's Jim Cramer and Steve Tanger

The same bears that predicted a miserable back-to-school season for retailers are forecasting a Scrooge-like holiday season as well. Cramer would normally push back against such reasoning, especially because August and September sales turned out to be good, but there have been a number of mixed earnings reports of late that have him questioning his own confidence.

That’s why on Thursday he went to Tanger Factory Outlet Centers [SKT 48.16 0.12 (+0.25%) ] CEO Steve Tanger to find out what’s going on. By Tanger’s account, or at least according to his most recent quarter, business is good. And he operates 31 outlet centers in 21 different states. So if that’s the case, can the retail outlook really be all that gloomy?

Cramer wanted an answer to that question, and he hoped Tanger could give it. Watch the video to see the full interview.



SOURCE: CNBC By: Tom Brennan Web Editor, Mad Money

What Not To Wear tapes from the Tanger Outlets in Deer Park

Tune in at 9/8C on Friday, November 5, 2010 as Stacy London and Clinton Kelly, hosts of TLC’s What Not To Wear, take the popular show on the road for a special visit to the Tanger Outlet Center in Deer Park, New York for an exciting episode that showcases the hottest, upscale styles at our brand name & designer stores!

Check out the show and see how you too can discover great style & savings for less!

Is there room for independent developers in the outlet industry today?

Jeffrey T. Was of Felenstein Was & Associates made the following announcement today.

THE SHOPS OF GRAND RIVER, AL

GRAND OPENING TODAY!!!!!

As many of you are aware, it is with great pleasure and pride that today we announce The Shops of Grand River, AL has officially opened for business!

Today is a very important day in the retail outlet industry for several reasons. First, not even the worst economic crisis in over 70-years could derail the success of this amazing new outlet center. Second, The Shops of Grand River clearly demonstrates to the retail outlet community that there is still a place in this industry for independent developers who are committed to the success of the retailers. Put another way, the “small guys” can still succeed in this industry!

On behalf of everyone involved at The Shops of Grand River, we would like to thank the 50+ outlet retailers who are open for business today. It is because of their support and belief in The Shops of Grand River that this amazing center has opened. To be clear----without the support of the retailers in this industry, no outlet center will flourish.

Well said Jeff!

Tanger Third Quarter 2010 Results

Tanger posted their third quarter results Tuesday. Here are some highlights from the release.

Same Center NOI Increases 3.6%

Tenant Sales Increase 6.3% for the Rolling Twelve Months

GREENSBORO, N.C., Oct. 26, 2010 (GLOBE NEWSWIRE) -- Tanger Factory Outlet Centers, Inc. (NYSE:SKT) today reported funds from operations available to common shareholders ("FFO"), a widely accepted measure of REIT performance, for the three months ended September 30, 2010 was $0.67 per share, or $31.1 million, as compared to FFO of $0.54 per share, or $24.0 million, for the three months ended September 30, 2009. For the nine months ended September 30, 2010, FFO was $82.2 million, or $1.78 per share, as compared to FFO of $81.2 million, or $1.99 per share, for the nine months ended September 30, 2009.

Steven B. Tanger, President and Chief Executive Officer, commented, "Our third quarter operating results were above plan. Same store net operating income increased by 3.6% for the quarter and 2.4% for the first nine months of 2010, and tenant sales increased 4.9% for the quarter and 6.3% for the rolling twelve months. We strengthened our Board of Directors with the appointment of Thomas Reddin as a new Director, and enhanced our management team with the hiring of Thomas McDonough as Executive Vice President of Operations. Our newest development in Mebane, North Carolina is fast approaching its Grand Opening on November 5th, and is expected to be 100% occupied. Our team is busy assisting our tenants as they move into this highly anticipated outlet center, which will open just in time for the Holiday shopping season."

Portfolio Operating Results

During the first nine months of 2010, Tanger executed 358 leases, totaling 1,441,000 square feet within its wholly-owned properties. Lease renewals during the first nine months of 2010 accounted for 1,014,000 square feet, which represented approximately 69% of the square feet originally scheduled to expire during 2010, and generated a 10.1% increase in average base rental rates. Base rental increases on re-tenanted space during the first nine months averaged 25.0% and accounted for the remaining 427,000 square feet.

Same center net operating income increased 3.6% for the third quarter of 2010, and increased 2.4% for the first nine months of 2010, compared to 1.8% for the first nine months of 2009. Reported tenant comparable sales for our wholly owned properties for the rolling twelve months ended September 30, 2010 increased 6.3% to $349 per square foot, while reported tenant comparable sales for the three months ended September 30, 2010 increased 4.9%.

Development Update

Scheduled to open on November 5, 2010, the company's 317,000 square foot outlet center in Mebane, North Carolina now has leases signed or out for signature on 100% of the leasable square feet. Tanger field personnel are already in place assisting store personnel as they move into their suite. Construction crews are putting the final touches on the center, working towards completion of this $65 million project. This new addition to the company's portfolio is located on Interstate 85/40 between the major North Carolina metropolitan markets of Raleigh/Durham/Chapel Hill and Greensboro/High Point/Winston-Salem.

Demolition is now complete and a redevelopment is in process on the company's Hilton Head I center in Bluffton, South Carolina. Currently, this center has leases signed or out for signature on 73.4% of the leasable square feet. When completed, the new 176,000 square foot center, with an additional four outparcel pads, will be the first LEED certified green shopping center in Beaufort County. The company's $50 million redevelopment in Hilton Head is projected to open during the second half of 2011. The company's other property on Highway 278, Hilton Head II, remains open during the construction and redevelopment of Hilton Head I.


For the full report click the link below:
Tanger Third Quarter 2010 Results

Expanded Technology Advances and Social Media Initiatives for Tanger Outlets

Company Release - 10/26/2010 08:30

Tanger Gives Shoppers a Mobile Portal for More Coupons and Savings at Their Outlets Nationwide

GREENSBORO, N.C., Oct. 26, 2010 (GLOBE NEWSWIRE) -- Tanger Factory Outlet Centers, Inc. (NYSE:SKT) is pleased to announce a number of technological advances made to keep their on-the-go customers informed about special offers and outlet center events.

Tanger's newly launched mobile site, designed for easy viewing on today's most popular smart phones, was created to give shoppers access to key information while at the Tanger outlet shopping center of their choice, along with notifications of special offers from our brand name tenants. The company's consumer website, www.tangeroutlet.com, is visited by close to 1 million shoppers each month. The mobile version of Tanger's website was launched in early 2010 with customized features, local center-specific content and special offers. A popular feature of the user friendly mobile site now being utilized by thousands of Tanger shoppers is the ability to display discount coupons on the phone while at a participating store.

Next on Tanger's interactive expansion strategy is a broader-based, expanded content, exclusive mobile application. This mobile application will enhance the shopper experience by providing Tanger location-based content, and will also offer a marketing channel for our brand name tenants to Tanger's tech savvy customers.

The Shops of Grand River outlet mall wins environmental gold

The $127 million Shops of Grand River outlet mall in Leeds has yet to make its first sale, but it has already earned gold.

Audubon International has certified the development as the state's first Gold Signature Sanctuary, meaning the development has adhered to a strict set of criteria and goals from planning through the completion of construction. The project will have to file documentation annually to retain its certification.

Audubon International, which is not affiliated with the National Audubon Society, certified the development on Oct. 5. Officials with developer Daniel Corp. plan to unveil a plaque recognizing the achievement at the retail center's grand opening Thursday.

"This development has not only done the things necessary to meet Audubon International's Gold Signature Sanctuary criteria, but it has incorporated a number of other green initiatives throughout the project," said John Knutsson, the vice president of development at Daniel who has worked closely with Audubon International.

Neiman Marcus blurs the line between outlets and specialty stores.

Neiman Marcus may be known as a place for Texas-size yearnings and price tags, but in a sign of the economic times for luxury retailers, the company is being drawn to a less haughty shopper.

The retailer, based in Dallas, is preparing to open a new line of outlet stores this fall called Last Call Studio, which will sell clothes that have never passed through a Neiman Marcus or even the retailer’s existing chain of Last Call outlet stores.

The Studio stores, to be located in suburban areas or strip malls that are not outlet centers, will specialize in moderately priced goods — blousy tops, knee-length skirts — aimed at the value-minded shopper who “may not have the reach level to buy the fine apparel that Neiman Marcus offers,” said Wanda Gierhart, Neiman’s chief marketing officer.

J. Crew opens at The Tanger Outlets at the Arches.

Clothing retailer J. Crew Group has opened a new 6,800-square-foot outlet store at Tanger Outlets at the Arches in Deer Park.

Vanessa Mitton, assistant general manager of the Arches, said, “J. Crew is a great addition to our merchant line-up and we’re sure the store will be very popular with our customers.”

J. Crew joins more than 90 merchants at the Arches including Neiman Marcus Last Call, Saks Fifth Avenue OFF 5th, Christmas Tree Shops, Old Navy Outlet, American Eagle Outfitters, Banana Republic, Gap, Kate Spade, Ann Taylor, New York & Company Outlet, and more.

SOURCE: Long Island Business News

Gurnee Mills delays renovations until 2011

Gurnee Mills is preparing for a busy holiday season with the opening of several new stores, but some mall renovations scheduled to be completed by Black Friday have now been pushed back to early next year.

It's been nearly six months since Gurnee Mills representatives presented $5 million worth of renovations to the Gurnee Village Board including new restrooms and entrances and upgraded food courts

The three-year plan was expected to get underway this fall starting with the renovation of three of the mall's busiest restrooms.

"The sad news is we'll have to delay the restrooms until the beginning of next year," said Randy Ebertowski, Gurnee Mills General Manager.

Horizon forms joint venture with CBL

CBL & Associates Properties, Inc. announced that it had formed a joint venture with Horizon Group Properties, Inc. to develop The Outlet Shoppes at Oklahoma City in Oklahoma City, OK. Once complete, the 350,000-square-foot project will be the only outlet center in the state of Oklahoma and the only outlet center within a 145 mile radius. The Outlet Shoppes at Oklahoma City is currently under construction with the grand opening scheduled for late summer 2011. CBL and Horizon are co-developing the project with Horizon responsible for leasing and management.

"The Outlet Shoppes at Oklahoma City is a great opportunity for CBL to enter the outlet center business through a new project that will be extremely successful," said Stephen Lebovitz, president and chief executive officer for CBL. "Outlet centers are a natural extension of our retail expertise and provide us with attractive growth potential. This partnership with Horizon, a recognized outlet center developer, will provide us with access to new relationships with outlet center retailers that will also benefit our core mall portfolio."

The Outlet Shoppes at Oklahoma City will feature dozens of the best names in outlet shopping. The project is currently over 80% leased with offerings including Saks Fifth Avenue Off 5th, Nike, Tommy Hilfiger, Banana Republic, J. Crew, Brooks Brothers, Coach, Guess? and more. The project is strategically located on 65 acres at the intersection of Interstate 40 and Council Road.

Tanger Outlet Centers Mourns the Passing of Their Founder, Stanley K.Tanger

Company Release - 10/24/2010 21:55

GREENSBORO, N.C., Oct. 24, 2010 (GLOBE NEWSWIRE) -- Tanger Factory Outlet Centers, Inc. (NYSE:SKT) and the company's Board of Directors announce the passing of their Founder and Director, Stanley K. Tanger.

Mr. Tanger, whose name is synonymous with outlet centers, died on Saturday, October 23, 2010, surrounded by his family.

Mr. Tanger founded what is now Tanger Factory Outlet Centers in 1981 and shaped the course of a new industry by opening the first strip center with brand name factory outlet stores in Burlington, North Carolina. In 1993 the company went public, becoming the first outlet developer to be listed on the New York Stock Exchange as a publicly traded Real Estate Investment Trust (REIT). Mr. Tanger was named "Entrepreneur of the Year" in Real Estate by INC. Magazine in 1994. By 1995, the company opened its 27th outlet shopping center. Tanger Outlet Centers was listed in the "Top 50 Public Companies" in North Carolina in 1996.