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.
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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.
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.
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.