Tanger Inc., owner and operator of open-air retail and outlet centers, has purchased the Bridge Street Town Centre in Huntsville for $193.5 million.
The 825,000-square-foot Bridge Street Center includes a mix of retail, restaurants and entertainment and is home to the region’s only Apple Store and other big-name retailers like Barnes & Noble, Anthropologie, Victoria’s Secret, Lululemon, Old Navy and Belk, plus some two dozen restaurants.
Tanger President and CEO Stephan Yalof said, “We continue to leverage the strength of our retail operating, leasing and marketing platforms to create value, both in the outlet channel and through selective investments in other complementary open-air retail destinations.
“The addition of Bridge Street Town Centre is a natural extension of our capabilities and consistent with our long-term strategy of investing in dominant open-air retail centers in markets, which benefit from outsized residential and tourism growth,” he added.
The Huntsville purchase is Tanger’s third acquisition this quarter. The company has operated a major outlet mall near the Gulf Coast in Foley for 30 years.