CHERRY HILL, N.J., Feb. 14, 2013 /PRNewswire/ -- Federal Realty Investment Trust (NYSE: FRT) announced today that Whole Foods Market (NASDAQ: WFM), the world's leading natural and organic supermarket and America's first national certified organic grocer, will open its first Cherry Hill Township location at Ellisburg Circle Shopping Center at Route 70 and Kings Highway in Camden County.
The grocer will occupy a 47,000 square foot space of Ellisburg Circle's 267,000 square feet of total space and is expected to open in 2014. "The Whole Foods Market concept and overall shopping experience is a perfect match for the Cherry Hill market," said John Hendrickson, Northeast Regional Chief Operating Officer for Federal Realty Investment Trust, "We are excited to bring such a tremendous and needed amenity to the community."
Acquired by Federal Realty in 1993, Ellisburg Circle Shopping Center is a regional shopping destination anchored by Buy Buy Baby and Stein Mart, with a merchandising mix currently comprised of more than 25 additional stores. "Whole Foods Market will meet our customers' growing desire for a grocer with the widest and highest-quality of natural and organic foods and products while providing opportunity to further enhance the remaining tenancy and our vision of the property," said Lance Billingsley, Director of Anchor Tenant Leasing for Federal Realty Investment Trust.
"Furthermore, the addition of Whole Foods Market is consistent with Federal Realty's sustainable efforts and continues our reinvention of Ellisburg Circle Shopping Center." Billingsley added. In 2012, the installation of roof and ground mounted solar panels was completed to meet approximately 20% of the electric needs for the tenants and common area of the Center. In addition, rain gardens were designed to enhance the atmosphere while purifying waters. To further the Center's transformation, Federal Realty will complete cosmetic upgrades to coincide with the Whole Foods Market opening.
"As the 13th New Jersey store for the company, we are thrilled to offer another location and option to our customers. Neighboring our Marlton store, the community will find the new store to rival and share many of the same amenities they have come to love and enjoy. We look forward to community engagement, opportunity, growth and creating job opportunities," said Scott Allshouse, Whole Foods Market Mid-Atlantic Region President.
Texas-based Whole Foods Market opened its first store in 1980 with a staff of 19 and now operates over 340 stores in the US, UK and Canada. FORTUNE magazine ranked the grocer on its "100 Best Companies to Work For" list for the sixteenth consecutive year and Workplace Dynamic listed Whole Foods on its Top 150 Workplaces list based on employee surveys from more than a million employees.
"Cherry Hill is thrilled to welcome Whole Foods Market as a neighbor in our community," said Cherry Hill Township Mayor Chuck Cahn. "Not only are they creating local, family-sustaining jobs, they are revitalizing, renovating and reusing a property that will be transformed into a vibrant environment in the center of our town. Whole Foods Market, along with other nearby projects, is reinventing Ellisburg into a prime location for shopping in the region."
For career opportunities at Whole Foods Market, interested individuals are encouraged to visit www.wholefoodsmarket.com
About Whole Foods Market®
Founded in 1980 in Austin, Texas, Whole Foods Market (wholefoodsmarket.com, NASDAQ: WFM), is the leading natural and organic food retailer. As America's first national certified organic grocer, Whole Foods Market was named "America's Healthiest Grocery Store" by Health magazine. The company's motto, "Whole Foods, Whole People, Whole Planet"™ captures its mission to ensure customer satisfaction and health, Team Member excellence and happiness, enhanced shareholder value, community support and environmental improvement. Thanks to the company's more than 73,000 Team Members, Whole Foods Market has been ranked as one of the "100 Best Companies to Work For" in America by FORTUNE magazine for 16 consecutive years. In fiscal year 2012, the company had sales of $11.7 billion and currently has more than 340 stores in the United States, Canada and the United Kingdom.
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 19.6 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 95.3% leased to national, regional, and local retailers as of December 31, 2012, with no single tenant accounting for more than approximately 3.2% 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 45 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 www.federalrealty.com.
Media Inquiries
Lisa Geiger
Marketing Manager, Northeast Region
410.931.0411
lgeiger@federalrealty.com
SOURCE Federal Realty Investment Trust
