Weingarten Reports Hobby Lobby to Join List of Anchors at Orlando’s Colonial Plaza Shopping Center

Weingarten Realty Investors (NYSE: WRI) announced today that Hobby Lobby has signed a 53,065 square-foot lease at Colonial Plaza Shopping Center. Hobby Lobby is a subsidiary of the privately held company Hobby Lobby Stores Inc. based in Oklahoma City, Oklahoma which operates 432 stores in 35 states, including seven existing locations in Florida. The Colonial Plaza store, which is expected to open in 2010, will be the eighth location in the state and the first in the Orlando area.

Colonial Plaza is located just minutes east of downtown Orlando on one of the city’s busiest thoroughfares, East Colonial Drive, and currently leases to many well-known national retailers, such as Ross Dress for Less, Marshalls, Total Wines, Old Navy, Babies R Us, Stein Mart, Staples and Barnes & Noble.

Steve Weingarten, senior vice president and director of Anchor Tenants for Weingarten, handled lease negotiations on behalf of the landlord. Paul Burkhart of Concordia Equity represented the tenant.

“We are pleased that Hobby Lobby has chosen Colonial Plaza as the site for their first store in the Orlando community,” said Weingarten. “The center’s great location and mix of strong national, regional and local retailers and restaurants have historically generated strong sales for our tenants. The addition of a retailer of Hobby Lobby’s caliber and popularity will not only support but should increase activity at Colonial Plaza,” he added.

About Weingarten Realty Investors

Weingarten Realty Investors (NYSE: WRI) is a commercial real estate owner, manager and developer. At September 30, 2009, the company owned or operated under long-term leases, either directly or through its interest in real estate joint ventures or partnerships, a total of 385 developed income-producing properties and 13 properties under various stages of construction and development. The total number of properties includes 315 neighborhood and community shopping centers located in 22 states spanning the country from coast to coast. The company also owns 80 industrial projects located in California, Florida, Georgia, Tennessee, Texas and Virginia and three other operating properties located in Arizona and Texas. At September 30, 2009, the company’s portfolio of properties was approximately 72.3 million square feet.

Weingarten Realty Invest... (NYSE:WRI)
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