ROCKVILLE, Md., Dec. 1 /PRNewswire-FirstCall/ -- Federal Realty Investment Trust (NYSE: FRT) today announced that Lee Anne Klemyk has joined the Trust to oversee the leasing of the Trust's New England portfolio. Federal Realty'sNew England portfolio includes approximately 2.1 million square feet of operating retail space as well as 16.6 acres of riverfront land in Somerville, Massachusetts adjacent to the Trust's Assembly Square Mall property. The potential development at Assembly Square is zoned to include up to 1.2 million square feet of retail and office space, including a 340,000 square foot IKEA and 2,100 residential units. For more information on Federal Realty leasing, please visit http://www.federalrealty.com/broker_leasing.
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"Lee Anne's 20 plus years of retail leasing experience throughout New England will be a real asset to the Trust in the leasing of both our current operating portfolio and potential future development opportunities at Assembly Square," said Chris Weilminster, senior vice president - leasing for Federal Realty. "Her understanding of the New England retail markets, relationships with tenants and experience in leasing operating portfolios and new development projects is a perfect fit for Federal Realty's needs in New England."
Ms. Klemyk will be based out of Federal Realty'sBoston office in Somerville, Massachusetts and will oversee all leasing efforts for the Trust's New England portfolio. Before joining the Trust, Ms. Klemyk served as vice president of leasing for New England Development, where she specialized in leasing space for large-format retail tenants up to 165,000 square feet. Prior to that she was vice president of leasing at W/S DevelopmentS.R. Weiner & Associates where she developed and implemented leasing strategies for a portfolio containing over 15 million square feet. Ms. Klemyk graduated magna cum laude from Central Connecticut State University where she received a Bachelor of Science degree in Marketing.
About Federal Realty
Federal Realty Investment Trust is an equity real estate investment trust specializing in the ownership, management and redevelopment of high quality retail assets. Federal Realty's portfolio (excluding joint venture properties) contains approximately 18.2 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 94.2% leased to national, regional, and local retailers as of September 30, 2009, 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 42 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.
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