BETHESDA, Md. (February 27, 2007) – Federal Realty Investment Trust (NYSE:FRT) announced today that Bethesda Row's retail and restaurant selections will expand in early 2008 with several new names including: Dolcezza Gelato, Le Pain Quotidien, Urban Chic, Lucy Activewear, and ColorWorks Salon.
“These new dining and shopping options enhance the diverse merchant mix at Bethesda Row,” said Wendy Seher, vice president of leasing for Federal Realty Investment Trust. “We are excited to add to the long list of restaurants, boutiques, shops and galleries that are already part of Bethesda Row.”
- Dolcezza Gelato is an Argentine gelato café serving artisan gelato and sorbetto, espresso, churros and fine tea.
- Le Pain Quotidien is a bakery and communal table, known for their homemade organic bread as well as pastries, tarts, brownies and meringues.
- Urban Chic is a clothing retailer that mixes pieces from established brands with up and coming designers. It opened in Georgetown in February 2004, and recently opened a second outpost in Fulton, Maryland.
- lucy activewear sells women's activewear (tops, bottoms, jackets, bras, maternity wear, and related accessories) through nearly 30 store locations (primarily in California but also in Arizona, Colorado, Illinois, Oregon, Texas, Virginia, Washington, and the District of Columbia).
- Colorworks Salon an upscale color specialty salon that creates custom looks to reflect any style. Colorworks is known for its colorists, each hand-selected by creativity, technical excellence, and thorough knowledge of color standards.
"We are so excited to become part of the Bethesda Row Experience. We think that Bethesda Row is a wonderful fit for us and we look forward to opening up and bringing a great service to the area," said Lindsay Buscher, Owner, Urban Chic
These stores and restaurants will be joining an exciting list of new retailers coming to Bethesda Row in early 2008 including Blue Mercury, J. McLaughlin, Lebanese Taverna and Pacific Wine Bar by Sonoma.
Bethesda Row, located in affluent downtown Bethesda, Maryland will upon completion of this current phase of redevelopment include 520,000 square feet of retail and restaurant space, 140,000 square feet of office space, 180 residential units and will increase parking by 461 spaces.
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 18.8 million square feet located primarily in strategic metropolitan markets in the Northeast, Mid-Atlantic, and California. In addition, the Trust has an ownership interest in approximately 0.7 million square feet of retail space through its joint venture with Clarion Lion Properties Fund in which the Trust has a 30% interest. Our operating portfolio (excluding joint venture properties) was 96.5% leased to national, regional, and local retailers as of December 31, 2006, with no single tenant accounting for more than approximately 2.5% 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 39 consecutive years, the longest record in the REIT industry. Shares of Federal Realty are traded on the NYSE under the symbol FRT.
