FOR IMMEDIATE RELEASE
March 7, 2023 | Contact: Emily Kanter, Maven Communications firstname.lastname@example.org
Philadelphia, PA – (March 7, 2023) – Federal Realty Investment Trust (NYSE: FRT), a real estate investment trust (REIT) and leader in developing sustainable and high-quality retail-based properties, has announced the rebrand of their Bala Cynwyd shopping center to “Bala Cynwyd on City Ave.” The rebrand is part of the company’s ongoing investment and commitment to growth in the region. Located on City Avenue between Belmont Avenue and Conshohocken State Road, the new name and updated visual identity exemplify the neighborhood’s unique tapestry of culture and heritage.
For area residents, professionals from surrounding office buildings, and visitors to the area, the shopping center has always been an accessible destination for shopping and restaurants, and now includes convenient outdoor gathering and seating areas, attractive exterior retail layout, and a more walkable layout.
“As part of our investment in the shopping center, it was important that the rebrand reflect the exciting upgrades and improvements being made,” said Kari Glinski, Vice President of Asset Management at Federal Realty Investment Trust. “The new name and feel captures the essence of the community and creates a bridge between convenience and accessibility all while keeping its historical integrity.”
Bala Cynwyd on City Ave is currently undergoing an $8M investment to upgrade facade aesthetics, create common and tenant-designated outdoor dining and gathering areas, and pedestrian and vehicular circulation updates. Additionally, up to 80 outdoor seats and eight curbside pick-up spaces are being added to improve overall functionality and convenience.
“Since the 1950s, the Bala Cynwyd Shopping Center has been part of the City Ave District’s fabric,” said Bryan Fenstermaker, President and CEO of the City Ave District. “We are confident that Federal Realty’s reinvestment and rebrand will help transform the shopping center into a vibrant meeting place for the community to shop and enjoy.”
The 23-acre community shopping center is currently home to various national retailers including ACME Markets, Michaels, Five Guys, and Honeygrow, with additional tenants being announced in the coming months. Construction at Bala Cynwyd will be finished by Summer 2023.
The rebrand was led by STREETSENSE, a creative collective with global reach, committed to crafting well-rounded strategies and promoting diverse perspectives.
About Federal Realty
Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail-based properties located primarily in major coastal markets from Washington, D.C. to Boston as well as San Francisco and Los Angeles. Founded in 1962, Federal Realty’s mission is to deliver long-term, sustainable growth through investing in communities where retail demand exceeds supply. Its expertise includes creating urban, mixed-use neighborhoods like Santana Row in San Jose, California, Pike & Rose in North Bethesda, Maryland and Assembly Row in Somerville, Massachusetts. These unique and vibrant environments that combine shopping, dining, living and working provide a destination experience valued by their respective communities. Federal Realty’s 103 properties include approximately 3,300 tenants, in 26 million square feet, and approximately 3,000 residential units.
Federal Realty has increased its quarterly dividends to its shareholders for 55 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P 500 index member and its shares are traded on the NYSE under the symbol FRT. For additional information about Federal Realty and its properties, visit www.federalrealty.com.