Tanger Acquires The Town Center at Levis Commons in Toledo, Ohio

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260528308138/en/

Tanger has acquired The Town Center at Levis Commons, a 300,000-square-foot, open-air lifestyle center located in a vibrant, mixed-use district in the Perrysburg submarket of Toledo, Ohio.

Tanger acquired The Town Center at Levis Commons for approximately $60 million, using cash on hand and available liquidity. Management expects the center to deliver a first-year return of approximately 8.5 percent, with potential for additional growth over time.

“The acquisition of The Town Center at Levis Commons reflects our continued focus on adding market dominant, open-air retail destinations where we see meaningful opportunity to grow value,” said Stephen Yalof, President and CEO of Tanger. “The Perrysburg submarket is one of Ohio’s most desirable communities for families, professionals, and business development, supporting a rapidly growing, affluent customer base.

“As the point of entry for leading national retailers eager to connect with this dynamic market, Levis Commons has recently introduced multiple new, sought-after brands and dining options that are driving traffic and sales growth,” Yalof continued. “We look forward to strategically applying our leasing, marketing, and operating platforms to further enhance the customer experience, in order to accelerate growth.”

One of Northwest Ohio’s premier shopping destinations, The Town Center at Levis Commons is 97 percent occupied by an appealing and diverse mix of shopping, dining, and entertainment uses. Among these are Anthropologie, Sephora, Lululemon, Shake Shack, Starbucks, Athleta, and Cinemark, as well as brands that are new to Tanger’s national portfolio, including Drybar, Ethan Allen, and Arhaus.

The Town Center at Levis Commons is part of a 400-acre live-work-play community that houses shopping, dining, hotel, office, and residential components. The first project of its kind in Northwest Ohio, Levis Commons attracts visitors from a wide trade area due to its unique environment and mix of in-demand stores. The project also benefits from nearby corporate and medical development, including the adjacent headquarters of O-I Glass, a world leader in glass packaging production, and the Mercy Health – Perrysburg Hospital, part of one of the largest health systems and employers in Ohio.

The Perrysburg submarket has strong economic fundamentals and high quality-of-life dynamics, including top-rated schools, desirable neighborhoods, strong manufacturing and medical industry growth, and family-friendly amenities and activities. Perrysburg also attracts sustained investment and development activity due to its proximity to major interstate thoroughfares, multiple colleges and universities, and Greater Toledo’s industrial and healthcare hubs.

With the acquisition of The Town Center at Levis Commons, Tanger now has four open-air lifestyle retail centers in its portfolio, following the acquisition of Pinecrest in Cleveland, Ohio, in February 2025; The Promenade at Chenal in Little Rock, Arkansas, in December 2024; and Bridge Street Town Centre in Huntsville, Alabama, in late 2023.

For more information, please visit our investor website at investors.tanger.inc or visit https://www.tanger.inc/our-properties/locations/leviscommons.

About Tanger^®

Tanger Inc. (NYSE: SKT) is a leading owner and operator of outlet and other open-air retail shopping destinations, with 45 years of expertise in the retail and outlet shopping industries. Tanger’s portfolio of 38 outlet centers and four open-air lifestyle centers includes nearly 17 million square feet well positioned across tourist destinations and vibrant markets in 22 U.S. states and Canada. A publicly traded REIT since 1993, Tanger continues to innovate the retail experience for its shoppers with over 3,000 stores operated by more than 800 different brand name companies. For more information on Tanger, call 1-800-4TANGER or visit tanger.inc.

The Company uses, and intends to continue to use, its Investor Relations website, which can be found at investors.tanger.inc, as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Additional information about the Company can also be found through social media channels. The Company encourages investors and others interested in the Company to review the information on its Investor Relations website and on social media channels. The information contained on, or that may be accessed through, our website or social media platforms is not incorporated by reference into, and is not a part of, this document.

Safe Harbor Statement

This release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements, which are based on certain assumptions and describe the Company’s future plans, strategies and expectations, are generally identifiable by use of the words “believe,” “expect,” “intend,” “anticipate,” or similar expressions.

These forward-looking statements are based upon the beliefs and expectations of management at the time of this release. You should not rely on forward-looking statements since they involve known and unknown risks and uncertainties which could cause actual results to differ materially from those presented in the forward-looking statements. Please refer to the documents filed by the Company with the SEC, including specifically the “Risk Factors” sections of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, and the Company’s other filings with the SEC, which identify additional factors that could cause actual results to differ from those contained in forward-looking statements. The Company does not undertake any obligation to update these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as may be required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260528308138/en/

Media Contact

ICR Inc.

(646) 277-1200

[email protected]

Investor Relations Contact

Doug McDonald

SVP, Treasurer and Investments

(336) 856-6066

[email protected]

KEYWORDS: United States North America North Carolina Ohio

INDUSTRY KEYWORDS: Other Retail Commercial Building & Real Estate Construction & Property REIT Discount/Variety Specialty Department Stores Food/Beverage Fashion Cosmetics Retail

MEDIA:

Photo

Tanger has acquired The Town Center at Levis Commons, a 300,000-square-foot, open-air lifestyle center located in a vibrant, mixed-use district in the Perrysburg submarket of Toledo, Ohio.

Photo

Tanger President and CEO, Stephen Yalof, commented: “The acquisition of The Town Center at Levis Commons reflects our continued focus on adding market dominant, open-air retail destinations where we see meaningful opportunity to grow value.”

Photo

One of Northwest Ohio’s premier shopping destinations, The Town Center at Levis Commons has been acquired by Tanger and is occupied by an appealing and diverse mix of shopping, dining, and entertainment uses.

Logo