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Federal Realty's CEO Hosts Investor/Analyst Day (Transcript)

And I don't think I got out of the studio when there was an email from [David Simons], saying, hey, to which I responded you are not a competitor in this particular case, in this particular thing, so I don't count you. Now I don't know whether that's true, because Andy said it wasn’t sure, it is true, alright Simons and then, Simons, come on. I don't know if there is anybody else, but its notwithstanding; it’s a great overall portfolio I should note. We made a couple of acquisitions this year, you know about Montrose Crossing I think and are you going to switch it, switch it again.

Montrose is a big deal for us. It’s a big piece of property, its nearly 40 acres; 357,000 feet. We obviously don’t worry about this site, get the next one, but the one I really do want you to look at when you do get the package is this aerial that we have of Rose & Pike. I mean you can’t see it too well from here, but I've got to tell you if there is shopping to happen in Montgomery County, it happens at Montgomery Mall, happens on the Pike.

And to control Mid-Pike, which will be Pike & Rose and mixed-use largely heading north, a lot of residential, little bit of office, retail on the ground floor, Federal Plaza which is more of a power center, that's where your Ross is, that's where your trader Joes is, that's where your boxes are.

Congressional, which is where our headquarters is and having Congressional Plaza with some just great tenants like Bye Bye Baby, like a container store, like the Fresh Market and a great place for moms and families; and now owning the big piece of land directly across the street basically, corner from Mid-Pike is Montrose Crossing.

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