{"id":1004800498,"date":"2026-05-29T05:23:30","date_gmt":"2026-05-29T13:23:30","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004800498"},"modified":"2026-05-29T05:23:31","modified_gmt":"2026-05-29T13:23:31","slug":"tanger-acquires-300-ksf-toledo-area-retail-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/tanger-acquires-300-ksf-toledo-area-retail-center\/","title":{"rendered":"Tanger Acquires 300 KSF Toledo-Area Retail Center"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a19a8c86447a&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-large is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004800497\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/town_center_at_levis_commons\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/05\/Town_Center_at_Levis_Commons.jpg\" data-orig-size=\"1200,899\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Town_Center_at_Levis_Commons\" data-image-description=\"&lt;p&gt;Image emailed to briefs&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The 33-acre Town Center at Levis Commons is 97 percent occupied. Photo by APG Photography; courtesy of Tanger&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/05\/Town_Center_at_Levis_Commons.jpg?w=1024\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" height=\"767\" width=\"1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/05\/Town_Center_at_Levis_Commons.jpg?w=1024\" alt=\"A photo of The Town Center at Levis Commons\" class=\"wp-image-1004800497\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/05\/Town_Center_at_Levis_Commons.jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/05\/Town_Center_at_Levis_Commons.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/05\/Town_Center_at_Levis_Commons.jpg?resize=768,575 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/05\/Town_Center_at_Levis_Commons.jpg?resize=1024,767 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The 33-acre Town Center at Levis Commons is 97 percent occupied. <em>Photo by APG Photography; courtesy of Tanger<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Tanger has acquired The Town Center at Levis Commons, a 300,000-square-foot, open-air lifestyle center in Perrysburg, Ohio, for about $60 million, using cash on hand and available liquidity.<\/p>\n\n\n\n<p>The previous owner was Hill Partners, according to Yardi Matrix. <\/p>\n\n\n\n<p>Tanger said in prepared remarks that it expects the property to deliver a first-year return of approximately 8.5 percent, with potential for additional growth over time. <\/p>\n\n\n\n<p>The center is 97 percent occupied by a mix of shopping, dining and entertainment tenants, including Anthropologie, Sephora, Lululemon, Shake Shack, Starbucks, Athleta and Cinemark, which operates a 12-screen theater at the center. Some brands, including Drybar, Ethan Allen and Arhaus, are new to Tanger\u2019s national portfolio.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/how-top-cre-brokers-hone-their-reputations\/\">How Top CRE Brokers Hone Their Reputations<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The 33-acre center is situated at the main entrance of J. Preston Levis Commons, a 400-acre, master-planned development with 600,000 square feet of medical and office space, more than 600 luxury residential units, senior living facilities and four hotels.<\/p>\n\n\n\n<p>With this acquisition, Tanger now owns four open-air lifestyle retail centers, the others being Pinecrest in Cleveland, The Promenade at Chenal in Little Rock, Ark., and Bridge Street Town Centre in Huntsville, Ala.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-approaching-stability\">Approaching stability<\/h2>\n\n\n\n<p>Aside from its sizable investments in open-air lifestyle centers, Tanger is best known for specializing in outlet centers. Last September, the company <a href=\"https:\/\/www.commercialsearch.com\/news\/tanger-buys-kansas-city-retail-for-130m\/\">acquired the 690,000-square-foot Legends Outlets<\/a>, an open-air outlet center in Kansas City, Kan., from Walton Street Capital for about $130 million.<\/p>\n\n\n\n<p>In the aftermath of national chain failures\u2014such as Rite Aid, Big Lots and Party City\u2014the Toledo region\u2019s retail space market is stabilizing, according to a year-end 2025 report from Reichle Klein Group. Net absorption ended the year slightly positive, after significant losses since 2024. Overall vacancy was 8.9 percent, and new construction was a modest 205,000 square feet.<\/p>\n\n\n\n<p>Separately, the current range of cap rates for power centers\u2014the closest available comparison\u2014in the Toledo metro is 7.5 to 9 percent, according to a recent commentary by Marcus &amp; Millichap affiliate Carrizales CRE. The brokerage also noted that the Perrysburg submarket is among the strongest in the Toledo region.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The open-air property is almost fully leased. <\/p>\n","protected":false},"author":882,"featured_media":1004800497,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,13,21742,21749],"tags":[51983,45047],"class_list":["post-1004800498","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-midwest","category-latest","category-retail","tag-hill-partners","tag-tanger-outlets"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tanger Acquires 300 KSF Toledo-Area Retail Center - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Tanger has acquired The Town Center at Levis Commons, a 300,000-square-foot, open-air lifestyle center in Perrysburg, Ohio.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/tanger-acquires-300-ksf-toledo-area-retail-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tanger Acquires 300 KSF Toledo-Area Retail Center\" \/>\n<meta property=\"og:description\" content=\"Tanger has acquired The Town Center at Levis Commons, a 300,000-square-foot, open-air lifestyle center in Perrysburg, Ohio.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/tanger-acquires-300-ksf-toledo-area-retail-center\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2026-05-29T13:23:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-05-29T13:23:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/05\/Town_Center_at_Levis_Commons.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"899\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/tanger-acquires-300-ksf-toledo-area-retail-center\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/tanger-acquires-300-ksf-toledo-area-retail-center\/\",\"name\":\"Tanger Acquires 300 KSF Toledo-Area Retail Center - 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