Tanger Factory Outlet Centers, Inc., along with its subsidiaries, is an owner and operator of factory outlet centers in the United States. The Company is a fully-integrated, self-administered and self-managed real estate investment trust (REIT) that focuses on developing, acquiring, owning, operating and managing factory outlet shopping centers. As of December 31, 2006, Tanger Factory Outlet Centers, Inc. owned 30 outlet centers, with a total gross leasable area (GLA) of approximately 8.4 million square feet. These factory outlet centers were 98% occupied and contained over 1,800 stores, representing approximately 380 store brands. Also, the Company owned a 50% interest in two outlet centers with a GLA of approximately 667,000 square feet and managed for a fee three outlet centers with a GLA of approximately 293,000 square feet. During the year ended December 31, 2006, it opened two centers located in Wisconsin Dells, Wisconsin and Charleston, South Carolina.