It's a safe bet that Federal Realty Investment Trust makes a federal case of shopping centers. The real estate investment trust (REIT) owns or has a majority interest in about 85 retail properties with more than 19 million sq. ft. of leasable space, including community and neighborhood shopping centers and mixed-use complexes. Its key markets are densely populated, affluent areas in the Northeast, Mid-Atlantic, and California; it also has properties in Florida, Illinois, Michigan, and Texas. The REIT's occupancy rate is around 93%. Principal tenants include Giant Food, Barnes & Noble,Bed Bath & Beyond, and T.J. Maxx. One of the oldest publicly traded REITs in the US, Federal Realty was founded in 1962.