ID Connections

New series of outlet malls to be built across Canada

Published by Julia Salerno, February 01, 2011.

The American retail company, Tanger Factory Outlet Centres, Inc., (Tanger) plans to join forces with the Canadian retail company, RioCan Real Estate Investment Trust (RioCan), to build a series of outlet malls across Canada. The chain of malls will be co-owned but will be branded as Tanger Outlet Centres.

It's expected that each outlet centre will measure approximately 350,000 sq. ft., depending on tenant demand, with an estimated investment for the malls to be as high as $1 billion. The new venture aims to develop between 10 and 15 outlet centres within five to seven years. The malls will be predominately located in high traffic tourist regions and in urban markets across the country. For more information, visit canadianpropertymanagement.ca.

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