Weingarten Realty (NYSE:WRI) announced today that Hobby Lobby Stores, Inc. signed a 40,000 square foot lease to co-anchor Perimeter Village Shopping Center. Hobby Lobby is one of the largest full-line arts and crafts retailers in the United States. The grand opening for Hobby Lobby's new store is scheduled for late 1st quarter or early 2nd quarter 2009.
Located in one of Atlanta's most trendy retail corridors at Ashford Dunwoody Road and Meadow Lane, Perimeter Village serves the densely populated and affluent neighborhoods in the North Atlanta and Dunwoody trade areas. Hobby Lobby will join an attractive center that is anchored by a number of large, national retailers such as Wal-Mart, Borders, DSW, Cost Plus/World Market and Ulta. Other tenants include Jason's Deli, Supercuts, Schlotsky's Deli, Olive Garden, J.Alexander and Petland.
Lee Brody, Regional Leasing Director for Weingarten Realty said, "Hobby Lobby is a great addition to Perimeter Village. With the center's convenient location in the upscale North Atlanta market, several nationally recognized retailers are already located in the center. We are extremely pleased that Hobby Lobby's decision to move into our center makes such an outstanding complement to our tenant mix. The number of popular retailers, combined with the center's strategic location will make Perimeter Village one of the North Atlanta's favorite shopping destinations."
Glenn Edgin, Real Estate Representative for Hobby Lobby Stores, handled tenant negotiations on behalf of his company. "Perimeter Village is at the crossroads of a prime retail location. We've been looking to open a store in Atlanta for some time, and the center has it all. Based on site demographics and the draw of retailers such as Borders, DSW, Cost Plus/World Market and others, we are delighted to have found the ideal location for us to open our newest Hobby Lobby Store."
The Hobby Lobby in Perimeter Village will be the company's 10th store in the Atlanta metro area.
About Hobby Lobby Stores, Inc.:
Based in Oklahoma City, Oklahoma, Hobby Lobby was started by David Green in 1972 with 300 square feet of retail space. From that modest beginning, Hobby Lobby has operates 403 stores in 33 states, with projected sales of $1.8 billion dollars in 2007. Hobby Lobby headquarters are located in a 3.4 million square foot manufacturing, distribution and office complex. The operation, now known as Hobby Lobby Creative Center is no longer just an arts and crafts store.With departments ranging from crafts, hobbies, picture framing, jewelry making, fashion fabrics, floral, cards & party, baskets, wearable art, home accents, and holiday supplies, Hobby Lobby is the place to shop for consumers that want super selection and super savings.For more information on Hobby Lobby Stores, please visit www.hobbylobby.com.
About Weingarten Realty Investors:
As one of the largest real estate investment trusts listed on the New York Stock Exchange, Weingarten Realty Investors (NYSE: WRI) is celebrating its 60th anniversary as a commercial real estate owner, manager and developer, incorporated in 1948. Focused on delivering solid returns to shareholders, Weingarten is actively developing, acquiring, and intensively managing properties in 23 states that span the United States from coast-to-coast. The Company's portfolio of 415 properties includes 335 neighborhood and community shopping centers and 80 industrial properties. Including tenant-owned square footage, the Company's portfolio currently totals more than 72 million square feet under management. Weingarten has one of the most diversified tenant bases of any major REIT in its sector, with the largest of its 5,700 tenants comprising less than 3% of its rental revenues. To learn more about the Company's operations and growth strategies, please visit http://www.weingarten.com.