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January 8, 2015

Tanger takes $750K charge for exiting Cheshire development

W/S Development website A rendering of the proposed Cheshire outlets.

Tanger Factory Outlet Centers said it will record a $750,000 fourth-quarter charge related to its backing out of a Cheshire retail development.

Tanger confirmed Wednesday it had severed its agreement with W/S Development Associates to be a part of a 480,000-square-foot retail development located near I-691. The company gave no reason for the move.

Tanger's outlets at Foxwoods are set to open later this year.

W/S owns seven Connecticut retail centers, including the Shoppes at Farmington Valley.

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