Tanger Sells Kimball Junction Outlet Mall
The Tanger Outlets located at Kimball Junction has a new name, as they have been sold to a real estate group based in Chicago.
Tanger Outlets Company announced this week the sale of four outlet centers, including the one in Park City, for a total of $130 million.
The Chicago based Singerman Real Estate company and The Outlet Resource Group purchased the 320,000 square foot outlet mall, along with the three others located in North Carolina, Maryland and Iowa.
The outlet mall will now be called Outlets Park City.
This isn’t the first Park City property that Singerman Real Estate has invested in, the company also owns the DoubleTree Hilton Hotel.
The purchase doubles the amount of properties The Outlet Resource Group owns in the U.S. The group will oversee leasing and marketing for the outlets and Avison Young will act as property manager.