DDR, owner of more than 500 shopping centers in 41 states, Puerto Rico and Brazil, announced last week the launch of Set Up Shop, an incubation program for retailers. Through this new program, the company hopes it will help create a new generation of small-shop tenants for its centers.
According to DDR’s press release, Set Up Shop will launch in the Atlanta area and will provide flexible lease terms – including up to six months free rent in some cases – for entrepreneurs starting or expanding a business. The company’s goal is to reduce asset-level expenses, make vacant space profitable and fill small-shop space, which has been difficult to do since local businesses have been struggling for the last few years.
DDR partnered with SCORE, a national non-profit organization dedicated to educating entrepreneurs. SCORE will offer free consulting services to retailers in the Set Up Shop program.
Kudos to DDR for innovative thinking!