Green Zebra Signs Lease at Hassalo On Eighth in Portland, Oregon’s Lloyd District
SAN DIEGO (August 26, 2015) — American Assets Trust, Inc. (NYSE: AAT) (the “Company”) announced today that Green Zebra has signed a lease for space in the Company’s n ewly constructed mixed-use urban village, Hassalo on Eighth, located within the Lloyd District in Portland, Oregon. The grocery store is scheduled to open in The Elwood Building within Hassalo on Eighth in early 2016.
“We are thrilled to welcome Green Zebra to Hassalo on Eighth,” said John W. Chamberlain, President and CEO of the Company. “Green Zebra is the perfect addition for our new development, and will quickly become a favorite shopping destination for the local residents and office workers in the Lloyd District.”
Commenting on the second store, founder and CEO Lisa Sedlar remarked “We love the Lloyd neighborhood and we’re super enthusiastic about the opportunity to bring healthy, local, organic foods to eaters in the neighborhood. In addition to serving the residents of Hassalo on Eighth and the Lloyd District, our small format store will be convenient for our neighbors in Sullivan’s Gulch, Irvington, and the Central Eastside, as well as the thousands of folks who work in the neighborhood.”
About Hassalo on Eighth
Hassalo on Eighth is located between NE Holladay and Multnomah Streets on the north and south and between NE 7th and 9th on the east and the west and attracts a wide range of residents and visitors by offering a variety of apartment options and retail spaces. The development is comprised of three buildings:
Velomor, a six-story building featuring 177 apartments and retail space on the ground floor.
Aster Tower, a 21-story tower with 337 apartments and retail.
The Elwood Building, a five-story building comprised of 143 apartments and retail.
The project is projected to be LEED Platinum certified, and includes a number of innovative green technologies, including recycling and re-using all of Hassalo on Eighth’s wastewater. It includes over 1,000 bike parking spaces, a bike valet as well as a doggie lounge and wash area for residents with four-legged friends. For additional information, please visit www.hassalooneighth.com.
About Green Zebra
Green Zebra is a Portland-based healthy and convenient neighborhood grocery store on a mission to increase access to delicious, high-quality food. Green Zebra Grocery is pioneering a new model of convenience store offering fresh food, healthy products, and delicious prepared food cooked from-scratch in the store. The company prioritizes local farmers, ranchers and producers when deciding what products to sell.
Currently Green Zebra operates one 5,500 SF small-format store in Portland, Oregon with plans to open four more Portland locations in the next two years, including Hassalo on Eighth.
Learn more about Green Zebra on their website, greenzebragrocery.com
About American Assets Trust, Inc.
American Assets Trust, Inc. is a full service, vertically integrated and self-administered real estate investment trust, or REIT, headquartered in San Diego, California. For over 40 years, the Company has been acquiring, improving, developing and managing premier retail, office and residential properties throughout the United States in some of the nation's most dynamic, high-barrier-to-entry markets primarily in Southern California, Northern California, Oregon, Washington and Hawaii. The Company's retail portfolio comprises approximately 3.0 million rentable square feet, and its office portfolio comprises approximately 2.7 million square feet. In addition, the company owns one mixed-use property (including approximately 97,000 rentable square feet of retail space and a 369-room all-suite hotel) and over 900 multifamily units. In 2011, the company was formed to succeed to the real estate business of American Assets, Inc., a privately held corporation founded in 1967 and, as such, has significant experience, long-standing relationships and extensive knowledge of its core markets, submarkets and asset classes. For additional information, please visit www.americanassetstrust.com.
Forward Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws, 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 the Company's good faith beliefs, assumptions and expectations, they are not guarantees of future performance. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the section entitled "Risk Factors" in the Company's annual report on Form 10-K filed on February 20, 2015 and other risks described in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission. The Company 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.
Investor and Media Contact:
American Assets Trust
Robert F. Barton
Executive Vice President and Chief Financial Officer
858-350-2607
