Back to top

Analyst Blog

Federal Realty Investment Trust (FRT - Analyst Report) completed the development of a residential complex – Chelsea Place – in its shopping center ‘Chelsea Commons’ that is situated near downtown Boston. The move was in line with the company’s plan of effectively utilizing underutilized land parcels. 

Property Details

The four-storied Chelsea Place, comprising 57 units, has 2 and 2-plus bedroom units ranging from about 700 to 1,100 square feet. The complex includes all necessary and luxurious amenities such as a fitness center, in-unit laundry, and 42 covered and uncovered parking lots each.

Moreover, the property has earned an LEED Silver certification and will contain solar panels on the roof.  It is developed by Oaktree Development, Keiser Homes and Tocci Building companies. The residential complex was constructed on a plot within the Chelsea Commons.

Advantageously positioned at the intersection of Route 1 and Revere Beach Parkway, in Suffolk County, Chelsea Commons was acquired by Federal Realty in 2006 and spans 222,000 square feet. It boasts several renowned retail giants such as The Home Depot, Inc. (HD - Analyst Report), CVS Caremark Corporation (CVS - Analyst Report), McDonald's Corp. (MCD - Analyst Report) and Gamestop. Notably, the area has a population of approximately 250,531 in a 3-mile radius, with an average household income of $65,599.

In Conclusion

We view the above-mentioned development as a strategic fit for Federal Realty. Given the solid demographics of the area, this premium property is expected to offer the company strong upside potential. It would also boost the strong housing market of Chelsea.

Currently, Federal Realty carries a Zacks Rank #3 (Hold).

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
PLANAR SYST… PLNR 4.44 +5.21%
BITAUTO HOL… BITA 81.71 +5.12%
CTPARTNERS… CTP 16.66 +4.26%
CHINA BIOLO… CBPO 47.91 +3.30%
MALLINCKROD… MNK 72.94 +2.85%