Time Equities Inc. and Lormax Stern acquire Kensington Valley Outlets

Howell, MI Time Equities, Inc. (TEI), a New York City-based international full-service real estate firm, and Michigan-based commercial real estate development firm Lormax Stern have jointly acquired an outlet center. Formerly known as Tanger Outlets Howell, the center has been rebranded as Kensington Valley Outlets.

“This marks our fourth joint venture with Lormax Stern, a partnership built on shared expertise and a strong track record of success,” said Ami Ziff, director of national retail at TEI. “We’re aligned in our approach to activating and repositioning retail assets, and we look forward to working together once again to unlock the potential of Kensington Valley Outlets.”

Built in 1996, the Kensington Valley Outlets is home to a mix of national brands including

• H&M
• Old Navy
• Nike Factory Store
• Columbia
• Banana Republic
• Gap
• Polo Raph Lauren Factory Store
• Famous Footwear
• Eddie Bauer

The outlet center is strategically located along the I-96 corridor between Detroit and Lansing, MI with 1.3 million customer visits in the last 12 months. Kensington Valley Outlets is easily accessible from four of the five Metropolitan Statistical Areas (MSA) in the state, with a combined population of 5.65 million and key drive markets including Detroit, Ann Arbor and Flint.

“Seeing the exciting developments underway in Howell reinforces our belief in the market’s long-term potential,” Ziff said. “Our investment reflects a broader commitment to placemaking and creating lasting value for the community.”

TEI was represented by Ziff, Jonathan Kim, Grant Scott, and Eli Smith, while Lormax Stern was represented by Andrew Bell, Matt Drozd, Sam Pietsch, and Mark Franchini. The seller was represented by Mark E. Strauss, Senior Managing Director of Investments at Institutional Property Advisors.