Best idea I've heard in a long time. The US needs more unique retailers, to provide more choice for shoppers and more interesting retail environments.
DDR launches incubator for new tenants
DDR Corp. is launching a retailer incubation program it hopes will help create a new generation of small-shop tenants for its centers. The program, called Set Up Shop, will initially launch at specific locations within 24 Atlanta-area shopping centers and will seek out and nurture local entrepreneurs interested in expanding a business or in starting a new one.
Set Up Shop participants will get flexible lease terms, a courtesy intended to remove some of the barriers associated with starting a business, according to Paul Freddo, DDR's senior executive vice president of leasing and development. The program's Web site offers six months free rent at many locations. Freddo says Set Up Shop will allow DDR to reduce asset-level expenses, such as property taxes and insurance, make vacant space profitable and fill small-shop space at a time when few mom-and-pop tenants are growing.
DDR has teamed up with Score, a national nonprofit association dedicated to educating entrepreneurs. Score's network of experienced volunteers will offer free consulting services to these retailers. "The first few months of a new business venture are critical to long-term success," Freddo said. "The Set Up Shop program reduces the entrepreneur's start-up expenses and provides a platform for long-term viability. 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." Click here for more information.
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Jeffrey Gunning AIA
Senior Vice President
RTKL Associates, Inc.
Dallas TX
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