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Retail Center in Hershey, PA acquired by Tanger

by thiryj
CPBJ report:  Controlling ownership of The Outlets at Hershey was acquired Friday by Greensboro, N.C.-based Tanger Factory Outlet Centers Inc., which will rename the site Tanger Outlets Hershey, according to leasing and management firm LMS Commercial Real Estate.

Lancaster County-based LMS represented Derry Township-based The Outlets at Hershey in negotiating the transaction, according to a news release.

Terms of the deal were not disclosed by LMS. Tanger also has a factory outlet center in Lancaster County.

Ownership group FSH Associates LP acquired The Outlets at Hershey in 1998, and LMS came on board at the time as its leasing and management firm, said Blaze Cambruzzi, chief operating officer for LMS.

The ownership entity remains intact and still formally owns the outlet center, with Tanger now holding the controlling ownership interest, Cambruzzi said.

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