| Federal Realty Investment Trust |
1626 E. Jefferson Street
Rockville, MD 20852
| Location: |
Size: 257,000 sq. ft.
Category: Renovated Centers
Firm: Federal Realty Investment Trust
| Wynnewood Center was built in 1954 and was one of the premier centers of its time when opened. At the time of its acquisition by Federal Realty, the property had two large vacancies and the tenant mix did not serve the needs of the surrounding community. |
Given the strong retail demand in this market, the vacancies represented an excellent opportunity to immediately reposition the property, dramatically increase the return on investment and provide the community with a revitalized and architecturally appealing shopping center.
Federal Realty began renovations on the center in 2000 and completed the work in October 2001. In addition to a complete facade update and renovation, several national tenants were added such as Old Navy, Bed Bath & Beyond, Borders Books and Music, and a state-of-the-art 98,000 sq. ft. Genuardi's supermarket, making the center more attractive for local residents and a more desirable community shopping experience.