BALTIMORE-The Cordish Cos. of Baltimore has sold its outlet centers in Atlantic City in New Jersey and Ocean City to Greensboro, North Carolina-based Tanger Factory Outlet Centers Inc. for $199.3 million. The Walk in Atlantic City is situated just off the A.C. Expressway and its first two phases are 99% occupied.
The Ocean City center, which contains a 200,000-square-foot retail space, is 93% occupied. The properties traded for $125.8 million in cash and the buyer will seize $73.5 million in debts. For the full story, go to Washington Business Journal .
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