Tanger CEO Stephen Yalof told CNBC's Jim Cramer on Wednesday why it can be more valuable to replace tenants rather than renew leases.
Tanger CEO Stephen Yalof told CNBC's Jim Cramer on Wednesday why it can be more valuable to replace tenants rather than renew leases.
Yalof said it's important to find tenants that will bring in new customers. He added that not renewing a tenant's lease doesn't mean Tanger is getting rid of them completely. Instead, that tenant could move elsewhere in the shopping center and have a chance at a new location, a new concept and a better size, all of which could drive productivity.
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