09:10 AM EST, 02/13/2025 (MT Newswires) -- Tanger ( SKT ) said Thursday that it has acquired the Pinecrest mixed-use center located in the eastern corridor of Cleveland, Ohio, for $167 million.
The 640,000-square-foot Pinecrest, which houses a variety of national, regional and local retailers, is estimated to generate an 8% return in its first year, the company said.