Tanger Acquires The Town Center at Levis Commons for Approximately $60 Million
Tanger has acquired The Town Center at Levis Commons, a 300,000-square-foot, open-air lifestyle center located in a district in the Perrysburg submarket of Toledo, Ohio. This transaction adds a fourth full-price lifestyle center to Tanger's portfolio, as the company continues to execute its external growth strategy. Tanger acquired The Town Center at Levis Commons for approximately $60 million, using cash on hand and available liquidity. Management expects the center to deliver a first-year return of approximately 8.5 percent, with potential for additional growth over time.
