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Tanger Outlet Centre set for expansion after ground breaking ceremony

May 24, 2013   ·   0 Comments

In December 2011 Tanger Outlet Centers (Tanger) partnered with RioCan real estate investment trust (RioCan), in attempt to expand its business into Canada. The joint venture with RioCan proved to be beneficial, due to the organization’s extensive property portfolio throughout Canada. Following the partnership, Tanger Outlets was officially introduced to Canadians with the purchase of the iconic Cookstown Outlet Mall. Located just north of Toronto and the Greater Toronto Area, the outlet mall was deemed as a perfect investment for Tanger Outlets.

After interior renovations, general improvements and a complete rebranding, one of Canada’s first Tanger Outlet Centers was complete. The former Cookstown Outlet Mall was an important tourist attraction for the Town of Innisfil, something that has continued since the Tanger rebranding. Both RioCan and Tanger have vowed to improve the malls identity with tourists and residents, but the renovation was only the first phase. RioCan and Tanger immediately began transforming the Cookstown Tanger Outlet into one of Ontario’s greatest shopping centers, according to Tanger Outlets President & CEO, Steven Tanger, “We’re working with excellent people to bring one of the best shopping experiences to Ontario.”

On May 16th, representatives from RioCan, Tanger Outlet Centers, The Town of Innisfil, and Simcoe County gathered together for the official ground breaking of the outlet center’s expansion.

The ground breaking ceremony featured Mayor Barb Baguley, Councillor Lynn Dollin, Linda Hobbs (President of the Cookstown Chamber of Commerce), Robert Lamb (Manager of Economic Development for Simcoe County), Steven Tanger (Tanger Outlets President & Chief Executive Officer), and Frederic Waks (RioCan President and Chief Operating Officer).

Tanger revealed details about the expansion and couldn’t contain his excitement about the project.

“We’re thrilled about the expansion and the many benefits it’ll have for the Town of Innisfil and Simcoe County.”

Once completed the expansion will be 150,000 square feet and feature 35 stores, including: Nike, GAP Outlet, Banana Republic, Calvin Klein, American Eagle, Coach (expanding), Tommy Hilfiger, and Aeropostale.

The $60 million project will create approximately 125 jobs during construction and 500 full/part-time positions once it’s completed.

The expansion is expected to be unveiled in summer 2014, bringing the outlet center to over 300,000 square feet and 83 stores, which will generate an estimated $16 million in provincial and federal taxes annually.

Tanger thanked both the Town of Innisfil and Simcoe County for their help throughout the years, and stated that the outlet center is here to stay, “You can count on Tanger to be an excellent neighbour for many years.”

By Michael Tomasone

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