Developers Diversified Realty Corporation Completes Leases with KB Importadora and EGO Vanity Shoes in Puerto Rico

Strategic Insights -

Developers Diversified Realty Corporation, a leading owner and manager of shopping centers in the United States and Latin America, has announced the completion of ten leases with KB Importadora and EGO Vanity Shoes for their first locations in Puerto Rico at five of the company's shopping centers. KB Importadora, a jewelry and accessory store for women, and EGO Vanity Shoes, which sell men's and women's shoes, have both selected Developers Diversified's properties to expand their business into the Puerto Rican market. The retailers plan to open their initial five locations late this year and early 2011 at various shopping centers across the island.

Key Takeaways:

  • Developers Diversified Realty Corporation has completed ten leases with KB Importadora and EGO Vanity Shoes for their first locations in Puerto Rico.
  • KB Importadora, a jewelry and accessory store, and EGO Vanity Shoes, a shoe retailer, have selected five Developers Diversified shopping centers to open their first locations in Puerto Rico.
  • The retailers plan to open their initial five locations late this year and early 2011 at various shopping centers in Puerto Rico, including Plaza del Norte in Hatillo, Plaza Fajardo in Fajardo, Plaza Rio Hondo and Plaza del Sol in Bayamon, and Plaza Isabela in Isabela.
  • Developers Diversified owns and manages 15 shopping centers in Puerto Rico, totaling five million square feet, with nearly 97% of the centers leased.
  • The company has a portfolio of 620 retail operating and development properties in 42 states, Brazil, Canada, and Puerto Rico, totaling over 137 million square feet.
  • Developers Diversified is the largest landlord in Puerto Rico and owns a premier portfolio of regional malls in and around Sao Paulo, Brazil.

Statistics:

  • 10 leases signed with KB Importadora and EGO Vanity Shoes.
  • 5 Developer Diversified shopping centers to host the retailers' first locations in Puerto Rico.
  • 97% of Developers Diversified's shopping centers in Puerto Rico are leased.
  • 137 million square feet: the total square footage of Developers Diversified's shopping center portfolio.
  • 620 retail operating and development properties: the number of properties in Developers Diversified's portfolio.
  • 42 states, Brazil, Canada, and Puerto Rico: the regions where Developers Diversified's portfolio is located.

Sources:

  • [1] "Developers Diversified Realty Corporation Completes Leases with KB Importadora and EGO Vanity Shoes for Their First Locations in Puerto Rico" by Developers Diversified Realty Corporation.