FOSTER’S GRILLE SIGNS LEASE AT WATERFORD’S SPECTRUM

RESTON, Va. (March 17, 2009) – Waterford Development announced today that Foster’s Grille, a casual neighborhood restaurant, has signed a 2,628-square-foot lease space at Spectrum, a mixed-use development in Falls Church, Va.

Fronting on Broad Street and Spectrum’s Market Square, more than 31,000 square feet of space is dedicated to retail at the development. Spectrum continues to welcome residents into its 189 condominium homes.

“We are incredibly pleased to add Foster’s Grille to our rapidly developing retail community at Spectrum,” said Lars Zachariasse, commercial services manager at Waterford Development. “The family-friendly restaurant will be a great gathering place for both Spectrum residents and the surrounding community of Falls Church.”
 
Foster’s Grille is home of the famous “Too Big for Two Hands Charburger” and currently operates more than 20 locations in six states. The menu includes neighborhood barbeque favorites like hamburgers, hot dogs, chicken sandwiches, salads, hand-cut french-fries, thick milkshakes, and more. In 2008, Restaurantchains.net named the Foster’s Grille one of the top ten fastest growing concepts and QSR Magazine named Foster’s Grille as “Ones to Watch.”

“With the addition of the Spectrum location, Foster’s Grille continues to expand to new, vibrant neighborhoods,” said Nicole No, managing member of Foster’s Grille. “We are excited to bring a venue to the community where Falls Church can host birthday parties, celebrate winning the big game, and enjoy an affordable meal with family and friends who matter most.”

Ben Becker of KLNB represented Foster’s Grille and Jennifer Price of Madison Retail Group represented the landlord in the transaction.

To learn more about retail opportunities at Spectrum, please contact Lars Zachariasse at 703.674.1699.

About Waterford:Waterford Development is a full-service real estate development company headquartered in Reston, Virginia. Over the past 20 years, Waterford Development has developed thousands of acres of land and completed numerous unique residential communities, as well as innovative office and retail spaces.  Recent award-winning developments include Belmont Greene, Symphony Village, The Broadway, and The Palladium. For more information, visit www.waterforddevelopmentllc.com.

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