Developers Diversified Realty Corp. (DDR), a leading real estate investment trust (REIT), was recently adjudged the “Best-of-the-Best” in the marketing category by the International Council of Shopping Centers, the global trade association of the shopping center industry. The “Best-of-the-Best” awards honor the most outstanding examples of shopping center design and development, sustainability, marketing, and community service across the globe.
Developers Diversified was awarded for its innovative rooftop solar program introduced in over 200 shopping centers across the U.S. through a strategic partnership with SunEdison, a solar energy services provider. With the introduction of solar panels, Developers Diversified reduced energy expenditures for the common areas of the shopping centers, and realized environmental benefits by minimizing noise, pollution and greenhouse gases.
Developers Diversified specializes in the acquisition, ownership, development, redevelopment, leasing and management of shopping centers and business centers. The company owns and manages 640 retail operating (including joint ventures) and development properties spanning approximately 140 million square feet of real estate in 44 states in the U.S., and Puerto Rico, Brazil, and Canada.
Developers Diversified’s top tenants are large discount chains including Wal-Mart Stores Inc. (WMT), The Home Depot Inc. (HD), Lowe’s Companies Inc. (LOW) and Target Corp. (TGT) who are better able to withstand the prolonged recession. These companies should fare comparatively better than specialty retailers as consumers become more and more price conscious. Consequently, Developers Diversified can expect steady rental revenues in the future.
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