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Leasingpackage.Pdf “We are bringing the newness to our shopping environments with the latest retail and entertainment concepts, driving real value for our guests. It is an exciting time to be Tanger Outlets’ partner, as the company pivots and drives the guest experience.” —STEPHEN YALOF, TANGER OUTLETS CEO A New Chapter A HERITAGE BRAND ENTERS AN ERA WITH A NEW CEO AT THE HELM Innovative Partnerships Stephen Yalof began a new role as Chief Executive CREATING BEST-IN-CLASS EXPERIENCES THROUGH Officer in 2021. His unique background spearheading the TANGER’S UNIQUE APPROACH real estate expansion for Polo Ralph Lauren and GAP, Inc. during both companies’ greatest growth periods, as well as Tanger is committed to developing best-in-class experiences his six years as CEO of Simon Premium Outlets, makes him the for its shoppers. Tanger collaborates with retailers to create ideal leader to navigate the future of the outlet shopping memorable shopping and builds relationships with artists, experience. With an emphasis in retailer relationships and a restaurateurs and influencers who bring bold, new dimension successful track record for redeveloping and enriching real to the mix. Tanger is creating meaningful, impactful estate, he is poised to reimagine Tanger. experiences that make its centers go-to destinations at the heart of the markets it serves. The Obvious Choice Reinventing Shopping AN INNOVATIVE SPIRIT THAT KEEPS BRINGING A MORE ELEVATED TENANT MIX TANGER CENTERS EVOLVING TO TANGER GUESTS Tanger is laser-focused on creating excellence in outlet Tanger is bringing the best and most exciting fashion names to the shopping because outlets are all it does. Tanger understands portfolio. Luxury brands such as Armani and Hugo Boss, contemporary what drives its tenants and what motivates its shoppers, and as staples like Tory Burch, Vince, and Rag & Bone; and digitally native a result, collaborates to build unique, on-brand shopping brands like Shinola. When brands are looking to launch their first outlet experiences. Tanger’s expertise and excellence is legendary, concepts, Tanger is the definitive choice. The outlet company along with a spirit of innovation that keeps its centers evolving. structures creative partnership-driven deals to incubate concepts as seen with Lafayette 148, Alex Mill, Psycho Bunny, J. McLaughlin, and Robert Graham. Photo by JP Yim for Michael Kors (Getty Images) Photo by JP Yim Tanger Outlets in Riverhead has been an iconic designer outlet destination on Long Island’s Gold Coast for several decades. Perfectly positioned on the East End, the center has drawn city dwellers from NYC to second homeowners of the Hamptons. From Manhattan to Montauk, more than 11 million shoppers annually find the center a must stop destination for value and luxury deals, while on Long Island. Tanger Outlets is better positioned than ever to enhance the luxury brands found at the Center with a newly designed, thoughtfully curated runway of today’s most sought-after brands— discover The Collection at Tanger. POPULATION / 60 MILES 7,952,649 GROSS LEASABLE AREA 729,778 SF MSA POPULATION New York’s 20,477,969 MAJOR CITIES Gateway Southampton, NY (9 Mi) to Luxury New York City, NY (69 Mi) MEET THE BEYOND-SUMMER SET The Great Manhattan Migration In just three short months—from July to September—almost $1 billion worth of property was snapped up in the Hamptons (NY Post, 2020, October 22, “Rich New Yorkers flee to Hamptons, sparking $1 billion real estate boom”). ‘The March mentality was to flee the city, but now people want to stay. It’s a lifestyle choice. The pace is slower, there’s more space and it’s safe.’ —JENNIFER FRIEDBERG, BROKER BROWN HARRIS STEVENS The Hamptons market has never seen such an influx of buyers. —PEGGY ZABAKOLAS, Nest Seekers International It’s the year of “anything can happen”—and million vacationers each year. From famous artists Manhattanites have flipped the housing market and Gatsby-era mansions to off-Broadway on Long Island. In 2020, the outbound migration premiers and an award-winning wine region, the from Manhattan to the Gold Coast and East End area has become a haven of modern luxury. have proved that the Hamptons are the place for New Yorkers to start anew. Known for its luxe amenities—beachside breezes, more than 60 vineyards, and the esteemed This dramatic shift of urban dwellers purchasing Shinnecock Hills Golf Club—the Hamptons set the single-family homes is the largest increase the standard for leisure. New residents can now area has seen in 20 years. As wealthy families experience the rural beauty and peacefulness of leave the city in search of more space and fewer the Hamptons in the offseason. Local businesses, crowds, the allure of the Hamptons is stronger than including eateries and shops, are remaining open ever before. Long Island’s affluent East End is as summer guests extend their stays. home to 2.8 million residents and hosts another 25 In March and April of 2020, The New York Times When the “outbound migration from Manhattan” began reported a 179% increase in rentals compared to 2019. Since March, Google reported that searches with a frenzy in March and April, some Hamptons houses for “Hamptons Rentals” was up 900%. With rented 20 to 50 percent above the asking price. increased demand came a sudden issue of low Photo by Sonia Moskowitz/Getty Images rental inventory. As a result, New Yorkers have — MARCELLE SUSSMAN FISCHLER The New York Times turned away from renting summer houses to purchasing forever homes. The draw of the Hamptons has expanded as New Yorkers pursue not only relaxation, but increased THE HAMPTON safety and personal space. Add to that the relative CLASSIC HORSE SHOW accessibility of NYC and it’s easy to see why many of the city’s wealthiest residents have moved out east. The commute from the Hamptons is an easy two hours by car or three by train on the Long Island Railroad. For luxury-seeking travelers, a chartered helicopter is a short 40-minute flight. KONTOKOSA WINERY © Joe Shlabotnik (NORTH FORK WINE TRAIL) NORTH FORK WINE TRAIL NORTH FORK The Hamptons —A Haven of SHELTER ISLAND MONTAUK Modern Luxury NORTHWEST NORTH HAVEN HARBOR SPRINGS MATTITUCK SAG HARBOR AMAGANSETT NOYACK EAST HAMPTON NASSAU COUNTY BRIDGEHAMPTON NORTH SEA WATER MILL 24 25 SOUTH FORK SOUTHAMPTON 495 RIVERHEAD GOLD COAST NORTH FORK This historic, coastal retreat Rolling hills of award-winning wine North Fork / 25 495 Wine Country is known for exquisite architecture country surround 60+ vineyards, 27 Shelter Island and stunning scenery. secluded beaches and farm stands. NORTH SHORE MANHATTAN RIVERHEAD Montauk The heart of the island is loved SOUTH FORK for decadent dining and views in Home to the Hamptons and 295 renowned harborside villages. famed for celebrity sightings, arts and culture, and upscale dining. Bronx SOUTH SHORE QUEENS North Shore 25 24 This area is packed with activity, SHELTER ISLAND 678 495 from pro surfing to world-class golf Picturesque and perfect for Gold Coast South Fork / and event venues. nature lovers, calm waters and Hamptons Manhattan 25 rolling scenery are ideal for 27 495 restful adventure. 27 FIRE ISLAND This no-cars-allowed sanctuary 295 is known for vibrant nightlife and MONTAUK NEW YORK CITY South Shore pristine nature preserves. A nautical paradise filled with BROOKLYN Queens surfing, fishing, boating and 678 Fire Island world-famous beachside resorts. 27 GATEWAY TO THE FORKS Known as Riverhead, this family- Staten friendly area boasts entertainment Island Jones Beach and easy access Long Beach to the Forks. Brooklyn 10 East Hampton Airport SUFFOLK COUNTY HTO NASSAU COUNTY 25 24 5 495 7 RIVERHEAD EAST HAMPTON MANHATTAN 25 1 2 495 ISP 27 10 MILES 3 8 POPULATION LGA 6 117,690 SOUTHAMPTON LaGuardia 295 4 Airport 9 QUEENS 678 27 Long Island MacArthur Airport JFK BROOKLYN STATEN ISLAND John F. Kennedy International Airport 30 MILES POPULATION 1,378,556 CAR 2 HRS MALLS TANGER OUTLETS (From New York City) 1. Americana Manhasset 53 miles / 55 miles 45 MILES LIRR 3 HRS (From Penn Station) POPULATION 2. Broadway Mall 5. Smith Haven Mall 8. Westfield South Shore 3,485,063 44 miles / 47 miles 22 miles / 27 miles 31 miles / 38 miles ISP 27 MI 3. The Gallery at Westbury Plaza 6. Tanger Outlets Deer Park 9. Westfield Sunrise Mall HTO 30 MI 49 miles / 53 miles 33 miles / 36 miles 41 miles / 47 miles LGA 66 MI JFK 66 MI 4. Roosevelt Field Mall 7. Walt Whitman Shops 10. Woodbury Common Premium Outlets 48 miles / 53 miles 37 miles / 41 miles 78 miles / 115 miles SOUTHAMPTON 40 MIN EAST HAMPTON 45 MIN Distance to Tanger Outlets Straight Line / Drive Miles (From New York) N THE COLLECTION 2 AT TANGER TO THE HAMPTONS RIVERHEAD VIEW 1 PROPOSED CONDITION 1 ROUTE 58 HIGHWAY 25 An Elevated RIVERHEAD VIEW 2 PROPOSED CONDITION Outlet Experience RIVERHEAD VIEW 3 PROPOSED CONDITION OUTLET SHOPPING It’s a Real Win AN IMPRESSIVE TANGER OUTLETS WOODBURY COMMON SHOPPER PROFILE RIVERHEAD PREMIUM OUTLETS Length of Shopping Visit 139 min 118 min LONGER DWELL TIME LOWER WALKOUT RATE MORE STORES VISITED Average Age 45.6 47.6 The Tanger Outlets Riverhead Only 5% of Tanger shoppers Riverhead customers visit 9.8 customer spends on average over walkout without purchasing in stores per visit vs. 2.1 at traditional Income $100k or Higher 48% 44% 2 hours shopping in comparison to comparison to 28% at a shopping environments and a traditional shopping experience, traditional shopping environment. make 11.3 trips per year. Average Household Income $126,395 $119,050 which is roughly 65 minutes. As Presented by TruTrade ® Alexander Babbage Insights TANGER OUTLETS A Trusted Partner Tanger Outlet Centers attract over 181 million loyal customers each year.
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