Tanger, an owner and operator of outlet and open-air retail shopping destinations, has acquired The Promenade at Chenal, a 270,000-square-foot upscale, open-air lifestyle shopping center in Little Rock, Ark., for approximately $73 million,
The Promenade at Chenal is Tanger’s first location in Arkansas, and its second full price, open-air lifestyle center, following Tanger’s acquisition of Bridge Street Town Centre in Huntsville, Alabama, late last year.
“We continue to execute our growth strategy with the acquisition of The Promenade at Chenal,” said Stephen Yalof, president and CEO of Tanger. “We’re thrilled to add this attractive, market-dominant lifestyle destination to our portfolio and welcome several exciting new brands and restaurants, all part of the Promenade’s diverse collection of market-exclusive shopping, dining, and entertainment.”
The Promenade at Chenal offers a line-up of national brands such as Lululemon, Sephora, Athleta, Kendra Scott, Lovesac and Sono Bello, as well as the state’s only Apple, Anthropologie and Urban Outfitters stores. These are complemented by a curated roster of popular local and regional retailers, a variety of elevated and casual dining options and an AMC IMAX Theatre.
The Promenade at Chenal is part of an affluent master-planned community in the Chenal Valley neighborhood on the west side of Little Rock, where continued densification since 2020 has created a live-work-play dynamic.
