CVS/pharmacy will anchor new retail options on Broad and Clayton streets

MEMPHIS, Tenn.--(BUSINESS WIRE)-- EdR (NYSE:EDR), one of the nation's largest developers, owners and managers of collegiate housing, and Schenk Realty Group today announced that CVS/pharmacy will anchor the ground-level retail space at Georgia Heights, a collegiate community across the street from the University of Georgia (UGA) north campus in Athens, Georgia.

Soon after Georgia Heights welcomes new students this summer, doors will open to approximately 43,000 square feet (sf) of street-level retail space, including CVS/pharmacy, J. Crew Factory, Dress Up Boutique and D.P. Dough.

With approximately 13,000 sf, CVS/pharmacy will offer full pharmacy service, health, beauty and personal care products, grocery items, general merchandise and digital photo service. It is expected to open in 2016.

Well-known international clothing retailer J. Crew has leased 6,000 sf on the Clayton street side of Georgia Heights for a J. Crew Factory store. It will offer stylish, easy-to-wear clothing for men and women.

For something special, Dress Up Boutique will be just downstairs on Broad street with 2,600 sf of trendy, weekly new arrivals at affordable prices. Founded in the college town of Dahlonega, Ga., Dress Up Boutique wants each woman to leave the store feeling more confident and loved than when they walked in.

D.P. Dough is a new-to-Athens retailer [restaurant] that delivers "ooey, gooey, cheesy happiness through delicious, custom-made calzones," as its website touts. Although the 1,800 sf location will offer onsite dining, D.P. Dough is known for its "crazy late" delivery on and around college campuses throughout the U.S.

Georgia Heights, a six-story, 292-bed, amenity-filled, mid-rise collegiate community, is on schedule for its summer 2015 opening.

The fully furnished one-, two- and four-bedroom apartments and amenities are tailored to appeal to UGA students. Each apartment includes private bathrooms and bedrooms, a full kitchen and a washer and dryer. Residents will also enjoy upscale amenities including tanning and fitness facilities, robust Wi-Fi and Internet access, outdoor activity and relaxation areas, study lounges, computer labs and an attached parking garage.

"We are excited to welcome these retailers to Georgia Heights," said Chris Richards, EdR's executive vice president and chief operating officer. "These retail partners will help make this collegiate community and our downtown Athens neighborhood an even better place to live."

About Schenk Realty Group

Since 1998 Schenk Realty Group has acquired, developed or re-developed more than 8,500 student-occupied units containing over 18,500 beds in university markets across the country.

About EdR

One of America's largest owners, developers and managers of collegiate housing, EdR (NYSE:EDR) is a self-administered and self-managed real estate investment trust that owns or manages 70 communities with nearly 39,000 beds serving 52 universities in 23 states. EdR is a member of the Russell 2000 Index and the Morgan Stanley REIT indices. For details, please visit the Company's Web site at www.EdRtrust.com.

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EdR
Bill Brewer, 901-259-2500
Executive Vice President and Chief Financial Officer
bbrewer@EdRtrust.com
or
For media information or photography:
Susan Jennings, 901-259-2506
Vice President, Corporate Communication and Marketing
sjennings@EdRtrust.com

Source: EdR

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