Tanger Factory Outlet Centers Inc. on Thursday finalized purchasing the development site for Tanger Outlets in Fort Worth and celebrated the official groundbreaking of its new outlet center.
Tanger reported leasing more than 60 percent of the center’s retail space, confirming contracts with H&M, Gap, Tommy Hilfiger, Children’s Place, Nike, Levi’s, Banana Republic, Express, Guess and Restoration Hardware.
“We are proud to celebrate the groundbreaking of Tanger Outlets in Fort Worth and look forward to bringing a world class shopping experience to residents and visitors to the Fort Worth area,” said Steven B. Tanger, president-CEO of Tanger Factory Outlet Centers Inc., commenting in a news release.
The new Tanger Outlet Center will be the signature outlet retail component of Fine Line Diversified Development’s Champions Circle, a commercial mixed-use real estate development adjacent to Texas Motor Speedway. Tanger Outlets in Fort Worth will offer about 350,000 square feet of retail space and feature more than 80 upscale brand name and designer outlet retailers.
“We are so excited to officially kick off this project with an ideal partner that shares our vision of bringing a first-class retail experience to Texans and tourists alike,” said Bill Boecker, president-CEO of Fine Line Diversified Development.
Tanger said it closed on the sale of the land on Sept. 30 and expects construction to conclude in time to serve the Dallas-Fort Worth area for the 2017 holiday season. During the construction phase, the project will generate more than 400 full- and part-time jobs, according to Tanger. More than 900 full- and part-time retail jobs will be created when the center opens.
“We are pleased to welcome Tanger Outlets as our new neighbor and look forward to future partnerships,” said Eddie Gossage, president and general manager of Texas Motor Speedway.
The Thursday morning groundbreaking ceremony, which took place at Champions Circle, featured remarks from Tanger, Fort Worth Mayor Betsy Price, District 7 City Councilman Dennis Shingleton; Andy Eads, Denton County Commissioner; and other business and community leaders.