DDR Launches Entrepreneur Incubation Program at 24 Atlanta Shopping Centers
Posted February 2, 2012
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DDR Corp. (NYSE: DDR) has launched a new approach to small-shop leasing called Set Up Shop, a program designed to promote entrepreneurship, incubate new concepts and support the expansion of locally-owned businesses.
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. According to the DDR website, this could include six months of free rent, short term leases and capped expenses.
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 program allows DDR to reduce asset level expenses, increase recovery rates and turn non-income producing space into a revenue-generating location while establishing a platform for entrepreneurs to take a step toward small business 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. "DDR intends to evaluate the success of the Atlanta initiative and consider expansion of Set Up Shop in other markets throughout 2012."
Social media outlets dedicated to Set Up Shop can be found on Facebook at www.facebook.com/SetUpShop or on Twitter at @SetUpShopGA.
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