DDR Corp. launches program aimed at recapturing high-quality anchor store locations
Reprinted from Crain’s Cleveland Business
Seizing initiative as change roils retailing, Beachwood-based DDR Corp. (NYSE: DDR) on Thursday, May 29, announced it has launched a program to recapture high-quality anchor store locations across its shopping center portfolio to lease them to growing chains at higher rents.
In what it described as a multiyear program, DDR said in a news release that at locations where it can install new, growing tenants, it is working with retailers in the big-box category to right-size their real estate footprints before their leases expire. Such tenants typically are shedding locations as they reposition their businesses, including suffering retailers for books, electronics, toys, office supplies and traditional department stores.