NATIONAL HARBOR, MD-The Peterson Cos., the family-owned development group that envisioned and then built the 300-acre National Harbor, and REIT Tanger Factory Outlet Centers, Inc. have inked a 50-50 JV to bring Tanger’s outlets to the development. The duo will build a $100 million, 350,000-square-foot building to house about 80 outlets on 40 acres.
The deal will double the amount of retail that currently exists at the mixed-use community, Taylor Chess, SVP of retail for the Peterson Cos., tells GlobeSt.com. Furthermore, these outlets will bring a new type of retail to National Harbor. “This deal fits perfectly into our model of destination retail,” he says. “National Harbor is a local draw for Prince George’s County, it is a regional draw for Washington, DC and Northern Virginia and a national draw as a destination waterfront resort.” The first outlets will open in early 2013, he says.
National Harbor, every now and then, makes headlines by grabbing a marquee development partner. In 2009, it sold 15-acres to Disney Resorts, who said it was considering using the site, which overlooks the Potomac River, as a location for a resort hotel.
More recently it announced it was teaming up with the Bozzuto family to build an $89 million apartment building that will include 25,000 square feet of retail. A resort area consisting of condos, hotels and retail space, National Harbor is anchored by Gaylord National, one of the largest convention resort developments on the East Coast.
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