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News Release

Federal Realty Adds UNIQLO to Tenant Lineup at Pike & Rose in North Bethesda, Maryland
Pike & Rose Continues to Build Momentum as International Apparel Merchant Joins Growing List of Retail, Restaurant, Residential, Hotel and Office Tenants

ROCKVILLE, Md., Feb. 7, 2018 /PRNewswire/ -- Federal Realty Investment Trust (NYSE: FRT) announced today that global retailer UNIQLO will open its first Maryland location and third in the Washington D.C. metro area at Pike & Rose, a 24-acre mixed-use development in Montgomery County. Expected to open in the fall of 2018, the new 11,000-square-foot store will offer LifeWear for men, women and kids.

Federal Realty Investment Trust is an equity real estate investment trust specializing in the ownership, management, development, and redevelopment of high quality retail assets. Federal Realty's portfolio is located primarily in strategic metropolitan markets in the Northeast, Mid-Atlantic, and California. Federal Realty has paid quarterly dividends to its shareholders continuously since its founding in 1962, and has the longest consecutive record of annual dividend increases in the REIT industry. (PRNewsFoto/Federal Realty Investment Trust)

"The latest store announcements and openings at Pike & Rose represent a continued positive trend for Federal Realty. Whether searching for the best location to be first to market, as it was for Chicago-based Stella Barra Pizzeria, or to expand their footprint in the D.C. metro region, as Scout & Molly's Boutique did this week, they are choosing Pike & Rose," said Chris Weilminster, President of Mixed Use at Federal Realty. "As Pike & Rose continues to reshape North Bethesda with a focus on the future, it has established a track record of attracting best-in-class domestic and international interest by offering options not found in other areas of the Greater Washington region."

Other notable highlights from the neighborhood include:

  • Canopy by Hilton to open 3rd location in the world in late February 2018
  • 930 Rose Condominiums located above Canopy with hotel amenity offerings, 50% under contract
  • State-of-the-art Porsche Dealership
  • Conversion of 17,000-square-foot rooftop into The Farm at Pike & Rose

"With the addition of UNIQLO, over 60% of the project's retail GLA now comes from iconic domestic and international brand category leaders, cementing Pike & Rose as a beacon for retailers both internationally known and locally loved," said Stuart Biel, Federal Realty's Vice President, Leasing. "The complement of an unparalleled mix of amenities within an authentic neighborhood environment means retailers and restaurateurs searching for their next location are finding it at Pike & Rose."

In 2018 Pike & Rose will welcome:

  • 930 Rose – Condominiums
  • Baked Bear – Ice Cream Sandwich Shop
  • BlueMercury – Retailer
  • Canopy by Hilton -- Hotel
  • Jinya Ramen Bar – Restaurant
  • Julii – Restaurant
  • Nada – Restaurant
  • Nando's Peri Peri – Restaurant
  • The Red Door Salon & Spa by Elizabeth Arden – Spa
  • Scout & Molly's Boutique – Retailer
  • Taylor Gourmet – Restaurant  
  • Uniqlo -- Retailer
  • Up Top Acres/The Farm at Pike & Rose – Rooftop Farm

About Pike & Rose, a Federal Realty neighborhood

Since its opening in 2014, the transit-oriented development has grown to 391,000 square feet, including over 40 tenants of thoughtfully merchandized retail space. The selection of restaurants (including Summer House Santa Monica, Del Frisco's Grille, &pizza and Taylor Gourmet), retailers (including REI, Sephora, H&M, L.L.Bean and Sur La Table), a state-of-the-art Porsche dealership, and unique entertainment offerings (iPic Theaters, Pinstripes and AMP by Strathmore) have created a one-of-a-kind retail environment. The neighborhood is fully enhanced by the offerings of 99 luxury condominiums and penthouses uniquely positioned above Canopy by Hilton, a 177-key boutique hotel; 80,000 square feet of fully leased best-in-class office space; 765 luxury apartments; and a 17,000-square-foot rooftop farm. The project represents a total investment of approximately $500 million with additional potential for development, and is part of the Federal Realty Row properties, which include Santana Row, located in San Jose, California, and Assembly Row, located in Somerville, Massachusetts. For additional information about Pike & Rose, visit www.pikeandrose.com.

About Federal Realty

Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail-based properties located primarily in major coastal markets. Founded in 1962, our mission is to deliver long-term, sustainable growth through investing in densely populated, affluent communities where retail demand exceeds supply. Federal Realty's 104 properties include over 2,900 tenants, in approximately 24 million square feet, and over 2,000 residential units. Federal Realty has paid quarterly dividends to its shareholders continuously since its founding in 1962, and has increased its dividend rate for 50 consecutive years, the longest record in the REIT industry. Federal Realty shares are traded on the NYSE under the symbol FRT. For additional information about Federal Realty and its properties, visit www.FederalRealty.com.

 

Investor Inquires:       

Media Inquiries:

Leah Andress  

Andrea Simpson

Investor Relations Associate        

Vice President, Marketing

301.998.8265         

617.684.1511

landress@federalrealty.com         

asimpson@federalrealty.com

 

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SOURCE Federal Realty Investment Trust