HUNTSVILLE, Ala. — Bridge Street Town Centre, located in Cummings Research Park has a new owner. On Thursday, North Carolina-based real estate firm Tanger announced that they have purchased the Huntsville shopping center for $193.5 million and will also be taking over management.
“We continue to leverage the strength of our retail operating, leasing and marketing platforms to create value, both in the outlet channel and through selective investments in other complementary open-air retail destinations. The addition of Bridge Street Town Centre is a natural extension of our capabilities and consistent with our long-term strategy of investing in dominant open-air retail centers in markets which benefit from outsized residential and tourism growth," Stephen Yalof, President and CEO of Tanger said.
Bridge Street Town Centre will be Tanger's 39th property following the grand opening of Tanger Nashville in October and the purchase of Asheville Outlets in early November. This will also be the company's first 825,000 square-foot open-air open-air lifestyle center with over 93 percent of the center already being occupied. Stores in the shopping district include Apple Store, Lululemon, Sephora, Lovesac, Barnes & Noble, Dick's Sporting Goods and more.
The shopping center was previously owned and managed by the Birmingham’s Bayer Properties and then purchased by the Dallas-based company, Centennial. Bridge Street Town Centre is expected to keep the same name following the purchase.
