AmREIT Announces the Grand Opening of The Fresh Market at Lantern Lane
AmREIT Announces the Grand Opening of The Fresh Market at Lantern Lane
HOUSTON--(BUSINESS WIRE)-- The Fresh Market has opened its doors as the new grocer at Lantern Lane shopping center, owned by AmREIT Monthly Income & Growth Fund III, Ltd., an advised fund of AmREIT, Inc. ("AmREIT"). The Fresh Market takes the place of the previous anchor tenant, Rice Epicurean. In November 2012, The Fresh Market announced the acquisition of Rice Epicurean. They have spent the last nine months completely renovating the store, culminating in their recent grand opening.
"I am pleased that the AmREIT redevelopment and leasing teams have, once again, transformed a great location with a weak tenant mix and aesthetics into an Irreplaceable CornerTM shopping center," said Kerr Taylor, AmREIT CEO. "It is now a special gathering place that will serve the dense and prosperous Memorial community well. The teams' transformational accomplishments include bringing a CVS/Pharmacy to anchor the east end cap, adding the successful Union Kitchen restaurant to anchor the west and, with the opening of The Fresh Market, introducing the neighborhood to one of the most exciting specialty grocers in our nation."
Fresh Market - For over thirty years, The Fresh Market has brought you the freshest, most delicious quality products from around the corner and around the globe. What started in Greensboro, North Carolina as a dream has grown into a refreshing reality with over 100 stores in over 20 states across the nation. Each one a part of the local community. Each one dedicated to providing the freshest and best local ingredients. Bringing the European style market stateside was just the beginning. Step inside The Fresh Market and you'll notice a rustic feel complimented by old-world charm, warm lighting and classical music that provide an inviting atmosphere. This truly makes shopping at The Fresh Market an experience unlike any other.
For more information, including a property video and recent photographs of the Fresh Market, please visit our website at www.amreit.com/property/24/Lantern-Lane.
About Lantern Lane Shopping Center
Lantern Lane, located at 12500 Memorial Dr., is a 81,567 square foot grocery and drug store anchored shopping center owned by AmREIT Monthly Income & Growth Fund III, Ltd., an advised fund sponsored and managed by AmREIT.Lantern Lane serves the affluent Memorial neighborhood in west Houston, with average household income within a one mile radius of approximately $164,000 per annum and approximately 60,000 households within a three mile radius.Tenants at Lantern Lane include Fresh Market, CVS/Pharmacy, Fidelity Investments, Martha Turner Properties, Starbucks and The Union Kitchen.
About AmREIT, Inc.
AmREIT believes it has one of the highest quality grocery and drugstore anchored retail portfolios in the REIT sector.AmREIT's 29 year-old established platform has localized acquisition, operation and redevelopment expertise in the most densely populated and affluent submarkets of five of the top markets in the U.S.:Houston, Dallas, San Antonio, Austin and Atlanta.AmREIT's management team has in-depth knowledge and extensive relationship advantages within its markets.AmREIT's portfolio was 96.5% occupied as of March 31, 2013, and its top five tenants include Kroger, Landry's, CVS/Pharmacy, H-E-B, and Publix.AmREIT also has access to an acquisition pipeline through its value add joint ventures, including three leading institutional investors who partner with the company as local experts.AmREIT's common stock is traded on the New York Stock Exchange under the symbol "AMRE."For more information, please visitwww.amreit.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws, including statements related to the offering and the expected use of the net proceeds therefrom, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases, which are predictions of or indicate future events or trends and which do not relate solely to historical matters. While forward-looking statements reflect AmREIT's good faith beliefs, assumptions and expectations, they are not guarantees of future performance. Furthermore, AmREIT disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could impact AmREIT's future results, performance or transactions, see the section entitled "Risk Factors" in AmREIT's prospectus supplement dated July 16, 2013, filed with the Securities and Exchange Commission on July 16, 2013.
AmREIT
Chad C. Braun, 713-850-1400
cbraun@amreit.com
KEYWORDS: United States North America Texas
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