The Legends Outlets Acquired for $130M, Will Get New Name

Legends Outlets in Kansas City, Kansas, has been sold to Tanger Inc. and will be renamed Tanger Kansas City at Legends. Photo credit: Alex Arnett.

Posted September 23, 2025

The Legends Outlets in Kansas City has been purchased by a North Carolina-based Tanger Inc. for approximately $130 million.

The Legends is approximately 690,000-square-foot open-air outlet center in Kansas City, Kansas, near the Kansas Speedway. The buyer has been looking to expand its open-air shopping center portfolio since 2022.

Tanger will rename the center Tanger Kansas City at Legends, according to a release.

Tanger’s acquisition totaled around $130 million, using available liquidity and the assumption of a $115 million CMBS loan that matures in November 2027. In conjunction with closing the acquisition, Tanger settled approximately $70 million of previously issued forward equity. The company estimates the center will deliver an 8% return during the first year.

“Legends in Kansas City aligns perfectly with our strategy to acquire well-located, open-air centers supported by strong residential and economic market fundamentals,” President and CEO of Tanger, Stephen Yalof, said in the release. “Anchoring the state’s premier entertainment district, Legends offers a holistic shopping experience, with the brands, dining, and entertainment options today’s shoppers want, surrounded by numerous traffic-driving attractions. We look forward to enhancing the center’s productivity through Tanger’s proven leasing, operating, and marketing platforms.”

In addition to the Kansas Speedway, the Legends is also strategically located near other attractions such as the Hollywood Casino, Azura Amphitheatre, Great Wolf Lodge, and the recently constructed Margaritaville Hotel. The outlets are also located near the separately owned Legends 267 apartment community, which was recently acquired. 

The Legends is 93% occupied and features more than 100 stores, restaurants, and entertainment venues.

Headquartered in Greensboro, North Carolina, Tanger operates a portfolio of 38 outlet centers and three open-air lifestyle centers that comprise more than 16 million square feet.