BALTIMORE, July 13, 2015 /PRNewswire/ -- Federal Realty Investment Trust (NYSE: FRT) announced today that iFLY Indoor Skydiving will open its first Maryland location at THE AVENUE at White Marsh. The indoor skydiving destination will occupy a newly constructed 6,000 square foot space, adding to THE AVENUE at White Marsh's current 298,000 square feet of total space. Groundbreaking is expected in late fall of 2015 with a projected opening mid-2016.
At iFLY, anyone age three to 103 can feel the rush of freefall skydiving without the risk of jumping out of an airplane. Following a brief training session, fliers are outfitted in a flight suit, helmet and flight goggles before entering a vertical wind tunnel with a certified instructor. Fliers do not jump or fall, but simply lean into the wind tunnel and float on the column of air while learning basic flying skills. With additional training, fliers can progress to group flying and advanced aerial maneuvers to further enjoy the sport of indoor skydiving. iFLY also offers an accredited STEM (Science, Technology, Engineering, Math) education program that teaches and educates grades 2 through 12 in a fun and interactive environment utilizing the flight experience to help students understand gravity, drag and other principles of physics and flight.
"THE AVENUE at White Marsh is an ideal environment for our newest tunnel location. We look forward to being a part of this already well-established family destination and becoming an integral part of the community. From birthday parties, to educational classes, to corporate outings, our team is ready to deliver the dream of flight to the Baltimore area," said iFLY CEO Alan Metni.
Acquired by Federal Realty in 2007, THE AVENUE at White Marsh is an outdoor lifestyle center conveniently located off I-95, approximately 50 miles north of Washington DC. The Center includes a merchandising mix comprised of more than 45 stores, with national retailers including AMC Theatres, Barnes & Noble, Old Navy, and Ulta. The popular family restaurant, Texas Roadhouse, recently broke ground for construction of a 7,420 square foot addition to THE AVENUE at White Marsh with an expected fall 2015 opening. "THE AVENUE's regional draw, combined with its ideal location along the I-95 travel corridor, made it a natural fit for iFLY," said Chris Fleming, Director of Asset Management for Federal Realty Investment Trust. "The addition of this dynamic and unique amenity solidifies THE AVENUE at White Marsh as a premier entertainment destination in the Baltimore market. As we continue to work toward our vision for this asset, we expect THE AVENUE at White Marsh to become a regional destination as much as it is 'the place' for the local community."
"We are excited to welcome iFLY to THE AVENUE at White Marsh," said Baltimore County Council Chairwoman Cathy Bevins. "This new attraction will give residents and thrill-seeking visitors the opportunity to experience indoor skydiving, and will continue to make White Marsh a destination -- drawing people and economic investment to the region." County Councilman David Marks added, "This exciting new business will diversify the many choices of entertainment in our area. It is something entirely different and I look forward to trying it out!"
For more information about THE AVENUE at White Marsh visit: www.TheAvenueAtWhiteMarsh.com.
iFLY is the experiential entertainment company that created modern indoor skydiving…we make the dream of flight a reality by giving our customers "wings" in a safe and reliable environment. iFLY started in 1998 as SkyVenture, LLC. Once we had developed the technology to create a stable, wall-to-wall cushion of air in a flight chamber, we knew we could offer an incredibly realistic and safe indoor skydiving experience. We opened our first indoor skydiving facility in 1999. Between 1999 and 2005, we opened three more facilities. In 2005, we rebranded ourselves iFLY, maintaining SkyVenture as our design and manufacturing company. Today, iFLY has 35 locations around the world in the US, Canada, Europe and Asia, and the list continues to grow. For more information, please visit:
About Federal Realty
Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail based properties located primarily in major coastal markets from Washington, D.C. to Boston as well as San Francisco and Los Angeles. Founded in 1962, our mission is to deliver long term, sustainable growth through investing in densely populated, affluent communities where retail demand exceeds supply. Our expertise includes creating urban, mixed-use neighborhoods like Santana Row in San Jose, California, Pike & Rose in North Bethesda, Maryland and Assembly Row in Somerville, Massachusetts. These unique and vibrant environments that combine shopping, dining, living and working provide a destination experience valued by their respective communities. Federal Realty's 90 properties include over 2,600 tenants, in approximately 21 million square feet, and 1500 residential units.
Federal Realty has paid quarterly dividends to its shareholders continuously since its founding in 1962, and has increased its dividend rate for 47 consecutive years, the longest record in the REIT industry. Federal Realty shares are traded on the NYSE under the symbol FRT. For additional information about Federal Realty and its properties, visit: www.FederalRealty.com.
Federal Realty Investment Trust
SOURCE Federal Realty Investment Trust