Tanger Factory Outlet Centers recently closed on the purchase of 52 acres of land in Mebane, North Carolina, that is planned to host the "Tanger Outlet Center of the Piedmont."

Specifically located just off Interstate 40/85 at Exit 154, on Arrowhead Boulevard in Alamance County, Tanger plans for the outlet center to serve shoppers in the region of Raleigh/Durham, as well as Greensboro/Winston-Salem.

At 317,000 square feet, the outlet center would include 80 stores, including Saks Fifth Avenue OFF 5th, Banana Republic Factory Store, Coach Factory, Gap Outlet, J. Crew, Michael Kors, BCBG/Girls, Nike Factory Store, Tommy Hilfiger, and many more. At the end of July, Tanger said it had about 57% of its square footage either leased or in negotiation and that it would not break ground until this level reached 75%.

Currently, Tanger has ground breaking scheduled for the $60 million project to start this December, with completion slated for late 2010.

This article appears in CoStar's Retail News Roundup: October 25-31, 2009
This week in the Retail Roundup, CoStar reports on expansions or new concepts at Wal-Mart and 77kids; closings, cutbacks, defaults, or bankruptcy news at Opus, Supervalu and Westgate Mall; acquisition, merger, loan, sale, or IPO activity at DDR and Macquarie, Weingarten and Jamestown, and Walgreens; new retail development news in NY, NC, MA, CT, and PA ; personnel or corporate announcements at Richard E. Jacobs Group and X Team; sustainability and green building news at JC Penney; and more.