Simon Property, Tanger Create Shopping Mall Venture

Law360, New York (November 29, 2012, 12:58 PM EST) -- Simon Property Group Inc. and real estate investment trust Tanger Factory Outlet Centers Inc. have formed a joint venture to develop two 350,000-square-foot shopping centers in North Carolina and Ohio, the companies announced Wednesday.

Indianapolis-based Simon Property and North Carolina-headquartered Tanger said the planned outlet malls in Charlotte, N.C., and Columbus, Ohio, would be completed by 2014. The companies previously joined forces in a 50-50 joint venture to develop the Tanger Outlets mall in Texas City, Texas, which opened in October.

John R. Klein, president of...
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