BEACHWOOD, Ohio, Nov. 30, 2010 /PRNewswire/ -- Developers
Diversified Realty Corporation (NYSE: DDR) and Five Below today
announced the two companies opened six locations in 2010.
Five Below is a leading retailer of trend-right, extreme value
merchandise between $1 and $5 for
teens and pre-teens.
Developers Diversified shopping centers in Macedonia, Stow and Columbus,
Ohio; Apex, North Carolina;
Horseheads, New York; and
Princeton, New Jersey all opened
Five Below locations in 2010. Five Below expanded their stores in
Hamilton and Mays Landing, New Jersey this year as
well.
Robin Walker-Gibbons, executive
vice president of leasing for Developers Diversified said,
"Consumers have made a substantial and permanent shift to value.
Five Below's combination of exceptional value with quality, trendy
merchandise will complement our existing tenants, drive family
traffic to the centers, and will offer our shoppers additional
choice, value and convenience. We expect strong sales for Five
Below at these Prime assets."
About Developers Diversified Realty
Developers Diversified owns and manages approximately 590 retail
operating and development properties in 41 states, Brazil, Canada and Puerto
Rico. Totaling more than 134 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