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.
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NOTE: Commercial Asset Preservation has the ability to work with salvage operations on commercial buildings to reclaim materials that can be re-purposed.
Reptinted from NEXTCity.org
Salvaging historical materials from blighted houses set for demolition has long been an urban pastime, but now, the city of Detroit wants to get in the game as part of Mayor Mike Duggan’s blight removal strategy.
The initiative, which they hope will launch next month, is part of the Mayor’s broader blight strategy, now with an eye on preservation as opposed to straight-up demolition.
Reclamation isn’t anything new. Practically every city in America — from New York City to Minneapolis — has reclamation shops ready to sell you a piece of old bowling lane you can turn into a kitchen countertop. But what is new is having the city take the lead and mandate salvage as part of a blight clearance program.
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