BEACHWOOD, Ohio, Feb. 2, 2012 /PRNewswire/ -- DDR Corp. (NYSE:
DDR) today announced the launch of Set Up Shop, a program designed
to promote entrepreneurship, incubate new concepts and support the
expansion of locally-owned businesses.
(Logo: http://photos.prnewswire.com/prnh/20110912/CL65938LOGO
)
Set Up Shop will launch initially in specific locations within
24 Atlanta-area shopping centers. Qualified entrepreneurs
participating in Set Up Shop will receive flexible terms designed
to limit some of the barriers associated with starting a
business.
Set Up Shop is an innovative and creative approach to small-shop
leasing. The program will allow DDR to reduce asset level expenses,
increase recovery rates and turn non-income producing space into a
revenue-generating location, while at the same time establishing a
platform for entrepreneurs to take a meaningful step toward small
business success.
DDR has partnered with SCORE, a national nonprofit association
dedicated to educating entrepreneurs, to serve as a resource for
Set Up Shop tenants. SCORE's network of experienced volunteers will
be available for free and confidential business consulting services
to these retailers.
"The first few months of a new business venture are critical to
long-term success. The Set Up Shop program reduces the
entrepreneur's start-up expenses and provides a platform for
long-term viability," said Paul
Freddo, senior executive vice president of leasing and
development for DDR. "Considering how critical small business
growth will be to sustainable economic recovery, DDR intends to
evaluate the success of the Atlanta initiative and consider expansion of
Set Up Shop in other markets throughout 2012."
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 @SetUpShopGA.
To learn more about SCORE, visit www.score.org.
About DDR
DDR is an owner and manager of 538 value-oriented shopping
centers representing 134 million square feet in 41 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 sell assets on commercially
reasonable terms; 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; our ability to continue to
pay dividends on our common shares at the current or higher rates;
and the finalization of the financial statements for the
three-month period and year ended December
31, 2011. 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,
2010. 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.