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.
