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Tanger Acquires 300K-SF Open-Air Retail Center in Ohio
Tanger has acquired The Town Center at Levis Commons, a 300,000-square-foot, open-air lifestyle center located in a mixed-use district in the Perrysburg submarket of Toledo, Ohio.
The transaction adds a fourth full-price, market-dominant lifestyle center to Tanger’s portfolio. Tanger acquired The Town Center at Levis Commons for approximately $60 million, using cash on hand and available liquidity. The retail plaza is part of a 400-acre community that houses shopping, dining, hotel, office, and residential components.
“The acquisition of The Town Center at Levis Commons reflects our continued focus on adding market-dominant, open-air retail destinations where we see meaningful opportunity to grow value,” said Stephen Yalof, President and CEO of Tanger. The Town Center at Levis Commons is 97 percent occupied by a diverse mix of shopping, dining, and entertainment uses, including Anthropologie, Sephora, Lululemon, Shake Shack, Starbucks, Athleta, and Cinemark.
