LAS VEGAS, Nev., May 24 /PRNewswire-FirstCall/ -- Developers
Diversified Realty Corporation (NYSE: DDR) today announced that the
International Council of Shopping Centers (ICSC) presented the
company with the "Best-of-the-Best" award during the industry's
largest annual gathering in Las
Vegas for the company's innovative rooftop solar panel
program.
"Best-of-the-Best" Awards honor and recognize the most
outstanding examples of shopping center design and development,
sustainability, marketing, and community service worldwide.
Developers Diversified was awarded top honors in the marketing
category.
Developers Diversified entered into a partnership last year with
solar energy services provider, SunEdison, for the rights to deploy
solar energy systems at over 200 shopping centers throughout
the United States. Between
December 2009 and February 2010, solar panel arrays were activated
at Developers Diversified shopping centers in New Jersey.
"We are deeply honored by this award," said Marc Feldman, senior vice president of new
business development for Developers Diversified. "Leasing our roof
space for solar panel hosting provides an opportunity for creative
revenue generation while supporting our corporate sustainable
energy initiative."
John Kokinchak, senior executive
vice president of property management for Developers Diversified
said, "With this innovative program we are able to reduce energy
expenditures for the common areas of the shopping center, and
realize environmental benefits by reducing noise, pollution and
greenhouse gases."
The active projects in New
Jersey are located at Nassau Park Pavilion in Princeton, Hamilton Marketplace in
Hamilton, and Route 22 Retail
Center in Union. These projects total over 143,000 square feet of
available roof space for solar panels and will generate
approximately 1.4 million kilowatts (kWh) of solar energy in the
first full year of operation. Over 20 years, the sites will
generate approximately 26 million kilowatt-hours, enough energy to
power over 2,400 homes for one year.
About Developers Diversified Realty
Developers Diversified owns and manages approximately 640 retail
operating and development properties in 44 states, Brazil, Canada and Puerto
Rico. Totaling more than 140 million square feet, the
Company's shopping center portfolio features open-air,
value-oriented neighborhood and community centers, mixed-use
centers and lifestyle centers located in prime markets with stable
populations and high-growth potential. Developers Diversified is
the largest landlord in Puerto
Rico and owns a premier portfolio of regional malls in and
around Sao Paulo, Brazil.
Developers Diversified is a self-administered and self-managed REIT
operating as a fully integrated real estate company. Additional
information about the Company is available on the Company's website
at www.ddr.com.
SOURCE Developers Diversified Realty Corporation