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Federal Realty Launches Contactless Exchange for Retailers
Ahead of a phased re-opening for shopping center tenants in the coming weeks, Federal Realty Investment Trust (NYSE: FRT) is launching The Pick-Up, a curbside, contactless exchange.
Scheduled to launch on May 15 at Federal’s properties in the D.C. metro area and nationally, the initiative is intended to provide a centralized service that retailers and restaurants of all sizes can take advantage of, particularly small businesses.
“The Pick-Up takes what is already a growing trend and builds a scalable platform making it easier for merchants and customers to coordinate the quick, contactless exchange of products to help our tenants drive demand given the immediate effects of COVID-19,” said Don Wood, CEO of the Rockville, MD-based REIT.
He added, “Long term, this national platform delivers a resource for our merchants to evolve with this growing channel within brick and mortar.”
Pictured: A rendering of The Pick-Up at Federal Realty’s Pike and Rose in North Bethesda, MD.
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