Retailer to offer unique shopping and dining experience in first South-Atlantic location

Bethesda Row, a Federal Realty Investment Trust(NYSE:FRT) property and the premier lifestyle, shopping and dining destination in downtown Bethesda, announced today that Urban Outfitters, Inc. (URBN), has signed a lease for its new Anthropologie & Co. destination at Bethesda Row. The new store, the first to be announced in the South-Atlantic, will occupy the former Barnes & Noble bookstore located at the corner of Bethesda and Woodmont Avenues and is anticipated to open fall 2018.

Nearly three times the size of a standard Anthropologie store, the Anthropologie & Co. concept brings Anthropologie and its sister brands, BHLDN, a one-stop-shop for all things bridal and wedding events, and Terrain, which offers a selection of gardening supplies and outdoor home decor, under one roof. It also introduces new, unique and dynamic store elements such as a furniture showroom, beauty boutique and shoe salon, as well as expanded selections of categories including home décor, women’s fashion apparel and accessories.

In addition, Anthropologie & Co.’s immersive shopping experience at Bethesda Row, in nearly 37,000 gross square feet, will span three levels and feature a full-service café on the ground level with outdoor dining along Woodmont Avenue.

“We are thrilled to introduce and welcome Anthropologie’s new concept to Bethesda Row and the DC-area,” said Chris Weilminster, president of the Mixed-Use Division at Federal Realty Investment Trust. “Over the last 20 years, Bethesda Row has become one of the most distinguished shopping districts in the country and an extremely valuable amenity to the surrounding communities. We are confident that Anthropologie & Co., with its exclusive services and mix of departments, will continue to shape the neighborhood as a one-stop destination for unmatched experiences.”

The retailer opened its first Anthropologie & Co. store in Walnut Creek, California last fall. The Bethesda Row location will mark the eighth Anthropologie & Co. store in the U.S. Anthropologie’s parent company, URBN, also owns its namesake brand, Urban Outfitters, and Free People. “Bethesda Row is ideal for Anthropologie & Co.,” said a spokesperson for the brand. “The space and location lend themselves to the warm and engaging community and one-of-a-kind retail experience we create for our customer.”

Weilminster added, “Both Anthropologie and Federal Realty recognize the importance of the outdoor space at this iconic corner of the neighborhood and will work together to ensure that it continues to serve our customers with a comfortable and welcoming environment to gather, linger and enjoy.”

About Bethesda Row

Bethesda Row is a 521,000-square foot shopping, dining and living destination in the heart of Bethesda, Maryland, featuring a unique mix of national retailers, local boutiques, eclectic eateries and chef-driven restaurants, plus 180 residential units at Upstairs at Bethesda Row and 157,000 square feet of office space. For more information, please visit www.bethesdarow.com.

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, our mission is to deliver long term, sustainable growth through investing in densely populated, affluent communities where retail demand exceeds supply. Our 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 98 properties include over 2,800 tenants, in approximately 23 million square feet, and over 1,800 residential units.

Federal Realty has paid quarterly dividends to its shareholders continuously since its founding in 1962, and has increased its dividend rate for 49 consecutive years, the longest record in the REIT industry. Federal Realty shares are traded on the NYSE under the symbol FRT. For additional information about Federal Realty and its properties, visit www.FederalRealty.com.