Jun 22

Federal Realty Investment Trust Announces New Hires and Leadership Relocation in Philadelphia Market

Federal Realty Investment Trust (NYSE: FRT), a national real estate investment trust (REIT) and leader in developing sustainable and high-quality retail-based properties, is pleased to welcome three new managers – Adam Hendricks, Nick Fornaro, and Kristin Blaser – to the Greater Philadelphia regional office, located in Wynnewood, PA. The new hires will provide strategic oversight and leadership to the construction, real estate, and property management teams. Federal Realty also relocated Vice President of Development, Mark Brennan, from New York to Philadelphia to oversee regional development. The relocation of senior leadership and additional development and operational roles comes at a time when Federal Realty plans to substantially grow its Greater Philadelphia and New Jersey presence through reinvestment and redevelopment.

Mark Brennan will oversee all phases of development and redevelopment in the Greater Philadelphia area. Brennan is currently responsible for regional development for Federal Realty’s New York assets. Prior to joining Federal in 2017 as director of development, he served as director of development for Blumenfeld Development Group and previously served as vice president with The Related Companies. With over 15 years in the real estate industry, Mark’s expertise includes large-scale mixed-use urban developments, retail, acquisitions, joint venture structures, leasing, planning and design, entitlements, construction, and financing. Brennan, his wife and two children will be relocating this summer to the Philadelphia area.

“I feel very fortunate for the opportunity to assist with the company’s growth in the Greater Philadelphia region,” said Mark Brennan, Vice President of Development at Federal Realty. “This portfolio has a strong pipeline of redevelopment with more than $250M of proposed investment. The investment illustrates Federal Realty’s ability to continually evolve our retail and real estate to provide lasting benefits to our communities through sustainable reinvestments and mixed-use developments.”

“We are very excited to welcome Adam, Nick, and Kristin to our Federal Realty family,” said Kari Glinski, Vice President of Asset Management at Federal Realty Investment Trust. “Our strategic plans across the region require additional senior leadership and talent to assist with our ongoing growth initiatives. The industry knowledge and management experience of these team members will be instrumental in creating long-term value for our shopping centers and the communities served.”

Federal Realty welcomes Adam Hendricks as the new development manager of the regional office. Hendricks, formerly a senior real estate manager at Lidl, has more than a decade of real estate business experience which he will utilize in his new role overseeing the management and execution of the development and redevelopment projects in the company’s Greater Philadelphia and New Jersey portfolio. At Lidl, Hendricks focused on expanding the company’s footprint in the Philadelphia market by managing regional acquisitions, overseeing market analysis, site identifications and qualifications. Hendricks was also responsible for the implementation and management of a 101-store expansion strategy across the tri-state area. His success developing meaningful relationships with local landowners, landlords, operators, developers, architects, engineers, and government entities will support Federal Realty’s expansion efforts in the Greater Philadelphia and New Jersey regions.

Nick Fornaro, a seasoned construction management professional, has also joined the company’s leadership team as the construction manager for the Greater Philadelphia portfolio. In this new role, Fornaro will be responsible for supporting the development team and managing the day-to-day construction projects for the portfolio. Fornaro previously served as the director of construction at Scungio Borst & Associates in Camden, NJ, where he assisted with notable redevelopment projects such as the Cherry Street Pier in Philadelphia, PA, The Dumont in Washington, DC, and The Varsity on Charles in Baltimore, MD. With more than 30 years working in the real estate business, Fornaro offers extensive knowledge for owners and contractors alike within the commercial, multifamily, hospitality, industrial, and site development sectors.

Additionally, Kristin Blaser joins the leadership team as a property manager in the regional office. In her new role, she will be responsible for managing various shopping centers including Andorra Shopping Center, Flourtown Shopping Center, Langhorne Square, Northeast Shopping Center, Town Center of New Britain, and Wynnewood Shopping Center. Blaser previously served as a general manager with Simon Property Group, where she worked with a variety of premier shopping, dining, entertainment, and mixed-used destinations. During her tenure spanning over a decade, she oversaw local tenant coordination and project needs, developed capital plans and ROI projects, and aligned operating expenses with company strategies.

For additional information about Federal Reality or the leadership team, please visit: www.federalrealty.com.

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