Press Release: Weingarten Realty

Weingarten Realty Announces PetSmart Joins Ridgeway Trace Shopping Center as Co-Anchor

MEMPHIS, Tenn. (July 31, 2009) – Weingarten Realty (NYSE:WRI) announced today that PetSmart, Inc. signed an 18,325 square foot lease at Ridgeway Trace Shopping Center.  With more than 1,137 stores in the United States and Canada, PetSmart is the largest specialty pet retailer to offer a full-line of services and solutions designed to meet the lifetime needs of pets.  The grand opening for PetSmart is scheduled for summer 2010.

         Conveniently located in one of the city’s busiest retail corridors at the south east corner Poplar Avenue & Interstate 240, Ridgeway Trace will be a 300,000 square foot shopping center anchored by Target and will serve the densely populated and affluent East Memphis and Germantown trade areas.  PetSmart joins Target, Sports Authority and Best Buy.

         Brooke J. Harvey, senior leasing director of Weingarten Realty handled lease negotiations on behalf of the landlord.  Danny Buring of the Shopping Center Group represented the tenant. 

         “We are delighted that PetSmart has finalized their lease and we look forward to their opening in the summer of 2010.  With PetSmart being signed, we have secured all of our anchor tenants for Ridgeway Trace and are focused on small shop and pad users for the remaining part of the shopping center,” said Harvey.

         “The center’s strategic location combined with tenants such as Target, Sports Authority and Best Buy will make Ridgeway Trace one of the most popular shopping destinations in Memphis.  Target opened in the spring of 2009 and Target is very pleased with their performance to date. This PetSmart will be the company’s third store in the Memphis Metropolitan area which allows them to better serve their customer base,” he added.