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
To learn more about SCORE, visit www.score.org.
DDR is an owner and manager of 538 value-oriented shopping centers representing 134 million square feet in 41 states,
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
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