Tanger Outlets Westbrook sale expected to bring rebranding, new stores

Westbrook Tanger Outlet, which was recently sold.

Westbrook Tanger Outlet, which was recently sold.

WESTBROOK >> The new owner of the Tanger Outlets Westbrook is a Paris-based company with businesses that include real estate investment, according state and local legal documents.

The outlet center and seven parcels of vacant land around it were sold for $40 million to a limited liability company, T Westbrook Center, according to records provided by the Westbrook Town Clerk’s office. Records filed with the Connecticut Secretary of State’s office identify the principal of T Westbrook Center LLC as Hoche Partners Real Estate.

Neither Tanger Outlets, the North Carolina-based outlet center giant, nor Levin Management Group, the New Jersey company that has been hired to handle the day-to-day operations of the Westbrook shopping center, have identified the new owner. The deal, which closed earlier in May, was made public earlier this week.

Officials with Hoche Partners Real Estate could not be reached for comment last week.

The parent company of Hoche Partners Real Estate, Hoche Partners Group, has on office in Purchase, New York. But address listed in state records for T Westbrook Center LLC is West Palm Beach offices of the Koeppel Law Group.

Tanger’s sale of the Westbrook outlet center was broken down into two transactions, according to town records. The 290,000-square-foot outlet center on Flat Rock Place sold for $37.42 million, while the seven parcels of vacant land that surround the retail complex were sold for $2.57 million.

Westbrook First Selectman Noel Bishop said he first became aware of the transaction earlier last week when the town received a $100,000 to cover conveyance fees associated with the real estate deal.

Levin Management will manage the Westbrook outlet center for the new owner.

In a press release put out this week, Levin Management officials said the outlet center will be undergoing a “significant rebranding campaign” to promote the shopping complex and its new name, Westbrook Outlets,

“Westbrook Outlets is an exciting addition to our management portfolio,” Robert Carson, Levin Management’s executive vice president, said in a statement. “Westbrook Outlets is a strong property in a desirable submarket with excellent visibility and accessibility.”

Levin officials also say they are planning to announce new retail tenants for in the coming months.

While Levin Management has years of experience operating retail locations in strip malls in five Middle Atlantic States, this is the company’s first foray into Connecticut and into managing outlet centers.

Westbrook Outlets features dozens of brand-name, family-oriented outlet stores spanning a range of categories including accessories and jewelry; men’s, women’s and children’s apparel; footwear; housewares and home furnishings; and specialty retail. H & M recently signed a lease to join the tenant lineup. Existing, high-profile retailers at the property include Bass Factory Outlet, J. Crew/Crewcuts, Hollister, Justice, Loft Outlet and Williams-Sonoma Outlet, among many others. The open-air mall also includes a hair salon and a 12-screen Marquee Cinemas.

The Westbrook outlet center, which is adjacent to Interstate 95, opened in November 1995.