BEACHWOOD, Ohio, Sept. 18, 2012 /PRNewswire/ -- DDR Corp.
(NYSE: DDR) today announced the expansion of Set Up Shop to 15
shopping centers in New York and
Pennsylvania. Set Up Shop, a small
business incubation program, was launched earlier this year at 48
of the company's shopping centers in Georgia and Florida.
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Set Up Shop is a creative approach to small-shop leasing in
which qualified entrepreneurs receive flexible terms designed to
limit some of the barriers associated with starting a business. To
date, over 30 entrepreneurs have qualified for the program,
representing a variety of merchants, such as fitness studios, music
stores, restaurants, tax preparation services, barbershops, salons,
dance studios, cafes, sporting goods stores, and apparel and
accessories stores.
"Set Up Shop has become a proven resource for fostering the
growth of small business," said Paul
Freddo, senior executive vice president of leasing and
development for DDR. "The program allows DDR to reduce asset level
expenses, increase recovery rates and operating income, while
providing communities with a fresh and diverse mix of locally owned
businesses to shop."
This recent expansion of the Set Up Shop program includes
specific shopping centers located in Pennsylvania and upstate New York. DDR will continue its partnership
with SCORE, a national nonprofit association dedicated to educating
entrepreneurs, to serve as a resource for Set Up Shop tenants in
New York and Pennsylvania. SCORE's network of experienced
volunteers will be available for free and confidential business
consulting services for qualified Set Up Shop retailers.
To learn more about Set Up Shop visit www.ddr.com/SetUpShop, the
Facebook page www.facebook.com/SetUpShop or follow Set Up Shop on
Twitter at @SetUpShopNY | #SetUpShop.
About DDR
DDR is an owner and manager of 459 value-oriented shopping
centers representing 117 million square feet in 39 states,
Puerto Rico and Brazil. The company's assets are concentrated
in high barrier-to-entry markets with stable populations and high
growth potential and its portfolio is actively managed to create
long-term shareholder value. DDR is a self-administered and
self-managed REIT operating as a fully integrated real estate
company, and is publicly traded on the New York Stock Exchange
under the ticker symbol DDR. Additional information about the
company is available at www.ddr.com.
Safe Harbor
DDR considers portions of the information in this press
release to be forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, both as amended, with respect to
the Company's expectation for future periods. Although the
Company believes that the expectations reflected in such
forward-looking statements are based upon reasonable assumptions,
it can give no assurance that its expectations will be
achieved. For this purpose, any statements contained herein
that are not historical fact may be deemed to be forward-looking
statements. There are a number of important factors that
could cause our results to differ materially from those indicated
by such forward-looking statements, including, among other factors,
local conditions such as oversupply of space or a reduction in
demand for real estate in the area; competition from other
available space; dependence on rental income from real property;
the loss of, significant downsizing of or bankruptcy of a major
tenant; constructing properties or expansions that produce a
desired yield on investment; our ability to buy or sell assets on
commercially reasonable terms; our ability to complete acquisitions
or dispositions of assets under contract; our ability to secure
equity or debt financing on commercially acceptable terms or at
all; our ability to enter into definitive agreements with regard to
our financing and joint venture arrangements or our failure to
satisfy conditions to the completion of these arrangements; and the
success of our capital recycling strategy. For additional
factors that could cause the results of the Company to differ
materially from those indicated in the forward-looking statements,
please refer to the Company's Form 10-K for the year ended
December 31, 2011, as amended.
The Company undertakes no obligation to publicly revise these
forward-looking statements to reflect events or circumstances that
arise after the date hereof.
SOURCE DDR Corp.