Tanger and Peterson Cos. to develop Tanger Outlets at National Harbor

Washington, D.C.—Tanger Factory Outlet Centers Inc. and The Peterson Cos. announced that they have entered into a joint venture agreement to develop, manage and lease Tanger Outlets at National Harbor.

The Washington D.C. metro area waterfront resort destination features fine dining, retail, office and residences, and a number of world-class hotels including the Gaylord National Resort and Convention Center. Developed by The Peterson Cos., National Harbor comprises 350 acres of prime real estate along the Potomac River in Prince George's County, Md.

"The addition of Tanger Outlet Centers is a significant milestone in the ongoing evolution of National Harbor," said Milt Peterson, founder and chairman of The Peterson Cos.

“We believe that our newest outlet shopping center will attract both domestic and international tourists visiting Washington, DC, along with the residents of Maryland, Virginia and DC," added Steven B. Tanger, president and CEO of Tanger Outlet Centers.

The new center is slated to span 350,000 sq. ft. and feature about 80 outlet designer and namebrand stores.

Groundbreaking is slated for late 2011, with a 2012/2013 opening.