SC 13G: Schedule filed to report acquisition of beneficial ownership of 5% or more of a class of equity securities by passive investors and certain institutions

CUSIP NO. 875465 10 6 13G Page 1 of 5 Pages



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No. )*

TANGER FACTORY OUTLET CENTERS, INC.
(Name of Issuer)

Common
(Title of Class of Securities)

875465 10 6
(CUSIP Number)


Check the following box if a fee is being paid with this statement (X) .
(A fee is not required only if the filing person: (1) has a previous statement
on file reporting beneficial ownership of more than five percent of the class
of securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).

*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter the
disclosure provided in a prior cover page.

The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).













CUSIP NO. 875465 10 6 13G Page 2 of 5 Pages


1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

Franklin Resources, Inc.
13-2670991

2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)
(b) X

3. SEC USE ONLY

4. CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:


5. SOLE VOTING POWER

438,396

6. SHARED VOTING POWER

7. SOLE DISPOSITIVE POWER

8. SHARED DISPOSITIVE POWER

438,396

9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON


438,396 (Please see Notes 1 & 2.)

10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES

Not Applicable

11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

5.7%

12 TYPE OF REPORTING PERSON

IA, IV, HC



CUSIP NO. 875465 10 6 13G Page 3 of 5 Pages





Item 1.
(a) Name of Issuer

Tanger Factory Outlet Centers, Inc.

(b) Address of Issuer's Principal Executive Offices

1400 West Northwood Street
Greensboro, NC 27408

Item 2.
(a) Name of Person Filing

Franklin Resources, Inc.

(b) Address of Principal Business Office

777 Mariners Island Blvd.
San Mateo, California 94404

(c) Place of Organization

Delaware

(d) Title of Class of Securities

Common

(e) CUSIP

354613 10 1

Item 3.
(d) Investment Company

(e) Investment Adviser

(g) Parent Holding Company (Note: See Item 7)










CUSIP NO. 875465 10 6 13G Page 4 of 5 Pages


Item 4. Ownership
(a) Amount Beneficially Owned

438,396

(b) Percent of Class

5.7%

(c) Number of Shares as to which such person has:

(i) Sole power to vote or to direct the vote

438,396

(ii) Shared power to vote or to direct the vote

(iii) Sole power to dispose or to direct the disposition of

(iv) Shared power to dispose or to direct the disposition of

438,396

Item 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial
owner of more than five percent of the class of securities, check
the following ( ).

Not Applicable

Item 6. Ownership of More than Five Percent on Behalf of Another Person

Not Applicable

Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on By the Parent Holding Company

See Attached Exhibit

Item 8. Identification and Classification of Members of the Group

Not Applicable

Item 9. Notice of Dissolution of Group

Not Applicable


CUSIP NO. 875465 10 6 13G Page 5 of 5 Pages

Item 10. Certification

By signing below, I certify that, to the best of my knowledge and belief, the
securities referred to above were acquired in the ordinary course of business
and were not acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transaction having
such purposes or effect.

This report shall not be construed as an admission by the person filing the
report (Franklin Resources, Inc.) that it is the beneficial owner of any
securities covered by this report.***


SIGNATURE


After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and
correct.


January 31, 1994
Date


S\DEBORAH R. GATZEK
Signature

Deborah R. Gatzek
Senior Vice President-Legal
& Assistant Secretary
Name/Title


*** Franklin Resources, Inc., and its subsidiaries and companies under control
with them with respect to the exercise of investment discretion are of the
view that they are not active as a "group" for purposes of Section 13(d) under
the Securities Exchange Act of 1934 ("1934 Act") and that they are not
otherwise required to attribute to each other the "beneficial ownership" of
securities under Rule 13(d) 3 promulgated under the 1934 Act. Therefore, they
are of the view that the shares held by Franklin Resources, Inc., and its
subsidiaries and companies under common control with them need not be
aggregated for purposes of Section 13(d). However, Franklin Resources, Inc.
is making this filing on a voluntary basis as if all the shares are
beneficially owned by Franklin Resources, Inc. and its subsidiaries and
companies under common control with respect to the exercise of investment
discretion.

Note 1: Includes 396,396 Common shares that would result upon conversion of
440,000 Convertible Preferred shares.
Note 2: As computed under Rule 13(d) - 3(d)(1)(i)