SOURCE: Barracks Road Shopping Center

Barracks Road Shopping Center

April 21, 2011 12:23 ET

Federal Realty Begins Facade Improvements at Barracks Road Shopping Center

Charlottesville's Regional Shopping Destination Announces New Store Openings and Summer Events

ROCKVILLE, MD--(Marketwire - Apr 21, 2011) - Federal Realty Investment Trust (NYSE: FRT) today announced that the Barracks Road Shopping Center in Charlottesville, Virginia will undergo façade enhancements beginning in May 2011. The renovation will take place in two phases beginning with the main building and concluding with the north wing in 2012. Improvements will include a new canopy roof and façade as well as the redesign of the canopy columns. The fountain court will also be renovated in 2012 to create an inviting open-air gathering place for events and additional seating for outdoor dining.

"The updates at Barracks Road will enhance the visual appeal and customer experience at Barracks Road," said Deirdre Johnson, director of asset management for Federal Realty Investment Trust. "With the recent openings of several new stores and the newly expanded Bed Bath & Beyond, Barracks Road continues to be a beloved shopping destination for the Charlottesville community."

In addition to the building improvements, Barracks Road is excited to announce two new restaurants, Slice Pizza and Peter Chang's China Grill, as well as two new retailers: Pink Palm, a Lilly Pulitzer Signature Shop offering an extensive collection of Lilly Pulitzer clothing, shoes and accessories; and J. McLaughlin, a men's and women's apparel retailer offering American classics since 1978 with 45 shops across the country. Opening in May, Layers Bed Company features handcrafted beds and linens in an array of designs and colors, will also join the more than 80 retailers at Barracks Road Shopping Center.

Save the date for the Summer Sidewalk Sale at Barracks Road, June 9 - 12, featuring exciting offerings from your favorite boutiques and national retailers. During the month of May, Barracks Road will also be giving away two Barnes & Noble Nook Color e-readers every Friday through Facebook. For more information, please visit www.facebook.com/barracksroad.

About Barracks Road
Barracks Road Shopping Center is a 486,000 square foot shopping center located at the corner of Barracks Road and Emmett Street in the heart of Charlottesville, Virginia. Barracks Road is a destination shopping location, boasting a perfect mix of well-known national retailers, two regional grocers, and unique, locally owned stores and restaurants, including Anthropologie, Aroma's, Beecroft & Bull, Banana Republic, and many more. For a full store listing and event information, please visit www.barracksroad.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.

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