ROCKVILLE, Md., Feb. 28, 2011 /PRNewswire via COMTEX/ --
Federal Realty Investment Trust (NYSE: FRT) today announced a new grocer will join Congressional Plaza, the 332,000 square foot regional shopping destination in Rockville, Maryland. The Fresh Market, a North Carolina-based specialty grocer, will open their first location in Montgomery County in 19,860 square feet at Congressional Plaza.
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"The addition of a new specialty grocer further solidifies Congressional Plaza as the dominant shopping center on Rockville Pike," said Chris Weilminster, senior vice president of leasing for Federal Realty. "Coupled with the recent openings of Last Call Studio by Neiman Marcus and Matchbox Vintage Pizza Bistro, we are excited to be able to open The Fresh Market's first location in Montgomery County at Congressional Plaza."
The Fresh Market was founded by Ray and Beverly Berry in 1982 with one simple goal in mind: to bring friends, family and neighbors high-quality products in a warm and friendly atmosphere with exceptional customer service. Over the past three decades, the company has grown from a single store in Greensboro, North Carolina to 100 stores across the United States.
The Fresh Market at Congressional Plaza will house 19,860 square feet of culinary delights, including a bakery that bakes 30 breads and 14 different kinds of pie daily, a full-service meat counter, a wide selection of ready-to-serve entrées, fresh seafood, a produce department with a large organic selection and more than 200 imported and domestic cheeses. The store also offers a full selection of bulk items such as coffee, candy and snacks.
Acquired by Federal Realty in 1965, Congressional Plaza is a regional shopping destination anchored by Buy Buy Baby and The Container Store, with a vibrant merchandising mix comprised of more than fifty stores and restaurants, including a unique collection of boutiques, national retailers and dining destinations. Located across from the Twinbrook Metro station on MD-355 Rockville Pike, Montgomery County's most heavily-traveled route, Congressional Plaza has been transformed and redeveloped over the past four decades to meet the needs of the surrounding community, and includes a consumer marketing program with year round events such as Mommy & Me. For more information on Congressional Plaza, please visit www.congressionalplaza.com.
About Federal Realty
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 (excluding joint venture properties) contains approximately 18.3 million square feet located primarily in strategically selected metropolitan markets in the Northeast, Mid-Atlantic, and California. In addition, the Trust has an ownership interest in approximately 1.0 million square feet of retail space through a joint venture in which the Trust has a 30% interest. Our operating portfolio (excluding joint venture properties) was 93.9% leased to national, regional, and local retailers as of December 31, 2010, with no single tenant accounting for more than approximately 2.6% of annualized base rent. Federal Realty has paid quarterly dividends to its shareholders continuously since its founding in 1962, and has increased its dividend rate for 43 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P MidCap 400 company and its shares are traded on the NYSE under the symbol FRT. For more information, please visit federalrealty.com.
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SOURCE Federal Realty Investment Trust
