Federal Realty Investment Trust is excited to announce its plans to renovate the Pan Am Shopping Center, a 228,000-square-foot community shopping destination in Fairfax, Virginia.
Scheduled to commence in late June, the renovation aims to refresh and modernize the 25-acre retail center. The project is expected to be completed by the end of the year and will consist of fresh paint with a new color palette throughout the center, façade upgrades in select locations, new canopy ceiling and lighting, the addition of two trellis features with new furniture, enhanced landscaping and renovated pylon signage and merchant blade signs. Originally constructed in 1979 and acquired by Federal Realty in 1993, Pan Am Shopping Center is strategically located at the intersection of Lee Highway and Nutley Street. The center boasts long-standing anchors such as Safeway, Microcenter, and Michaels, alongside a variety of retail, dining, and service establishments including Glory Days Grill, L’Image Beauty, Starbucks, and CVS Pharmacy.
“Pan Am Shopping Center has stood as a cornerstone of the Fairfax community for decades,” remarked Deirdre Johnson, Senior Vice President of Asset Management for Federal Realty. “In tandem with a modern refresh, the renovation integrates new outdoor seating, mural art, ambient lighting, and bike racks, all of which are amenities designed to elevate and enrich the customer experience.”
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 102 properties include approximately 3,300 tenants in 26 million commercial square feet, and approximately 3,100 residential units.
Federal Realty has increased its quarterly dividends to its shareholders for 56 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.
