HUNTINGTON, NY—Federal Realty Investment Trust has opened an office here to manage its existing tri-state portfolio and source new deals for the Rockville, MD-based retail REIT.
Federal Realty Investment has hired Mark T. Brennan from Syosset, NY-based Blumenfeld Development Group as director of development. Brenan, who was director of development for Blumenfield and earlier with Colin Development Group, LLC of Manhasset. According to his LinkedIn page, Brennan previously served as a vice president with Related Companies New York City office.
Federal Realty owns nine properties in the area and will run all development, leasing, property and asset management for those properties, as well as source new deals for the firm in the tri-state region out of its new office. Brennan has joined the Trust to oversee development.
The REIT’s portfolio of approximately 23 million square feet is located primarily in coastal markets from Washington, D.C. to Boston as well as San Francisco and Los Angeles. The firm, in addition to its Rockville, MD headquarters, maintains regional operations in Somerville, MA, El Segundo, CA, Wynnewood, PA and San Jose, CA.
The firm’s New York properties are concentrated on Long Island. They include holdings in Fresh Meadows in Queens (Fresh Meadows Avenue Shops and Fresh Meadows Place), the Melville Mall, Greenlawn Plaza, the Huntington Shopping Center and Huntington Square in Huntington and the Hauppauge Shopping Center in Hauppauge.
“This new office clearly demonstrates Federal Realty’s continued commitment to the Greater New York market,” says Bryan Furze, VP of asset management for the Northeast for Federal Realty. “Mark’s expertise and local experience will provide significant leadership as we unlock the value of our existing properties and aim to grow the Federal Realty portfolio in the New York metro area.”
Brennan’s experience includes knowledge of acquisitions, development, asset management, financing, joint ventures, leasing, entitlements, design/construction, and financial analysis. He has been involved with large-scale mixed-use urban real estate developments, retail, hospitality, acquisitions, joint venture structures, due diligence, leasing, planning, construction, design, asset management, entitlements, financing and financial analysis.
The company also owns three retail properties in Connecticut in Greenwich, Darien and Bristol. It’s New Jersey retail holdings include: Brick Plaza in Brick; Brook 35 & West in Sea Girt; Ellisburg Circle Shopping Center in Cherry Hill; the Mercer Mall in Lawrenceville; The Grove at Shrewsbury in Shrewsbury and the Troy Hills Shopping Center in Parsippany.