Seabrook Takes First Step Toward Shopping Hub Transformation

Submitted by DDR Corp., owners of Seabrook Commons

DDR Corp. is pleased to announce the successful lease-up and construction of Seabrook Commons, a 380,000-square-foot prime power center that will open in the summer of 2014 in Seabrook, New Hampshire.

Featuring a trade area of 251,000 people and average household income of approximately $90,000, this market-dominant power center will open 95 percent leased and will be anchored by high-credit, best-in-class retailers including Walmart, Dick’s Sporting Goods, PetSmart, Michaels, ULTA, Five Below and Panera, among others.

"Seabrook Commons represents our continued focus to monetize non-income producing assets through selective ground-up development projects while delivering new store growth opportunities for today's fastest-growing retailers and generating attractive incremental returns on capital invested," said Paul Freddo, senior executive vice president of leasing and development for DDR.

With its strategic location near Interstate 95, Seabrook Commons is situated at the first exit north of the Massachusetts-New Hampshire border, and will benefit from consistent traffic generated by Boston shoppers seeking the sales tax advantages in New Hampshire.

Municipal leaders have expressed appreciation for DDR’s investment which will provide enhanced retail amenities and needed infrastructure to the City of Seabrook, Rockingham County, and the surrounding trade area. 

“We are excited about the opening of Seabrook Commons, which will bring a great retail presence to our community,” said William M. Manzi III, town manager of Seabrook. “We are grateful for the investment by DDR, and look forward to the additional economic benefits that this project will bring to the citizens of Seabrook.”

The opening of Seabrook Commons will represent DDR’s second-consecutive year of adding a prime power center to the portfolio through ground-up development. In May of 2013, the Company announced the opening of Belgate Shopping Center, a 900,000-square-foot center located in Charlotte, North Carolina, anchored by IKEA, Walmart, Marshalls, ULTA, Old Navy, PetSmart, Cost Plus World Market, Hobby Lobby and Shoe Carnival.

About DDR Corp.

DDR is an owner and manager of 431 value-oriented shopping centers representing 117 million square feet in 39 states, Puerto Rico and Brazil. The Company's assets are concentrated in high barrier-to-entry markets with stable populations and high growth potential and its portfolio is actively managed to create long-term shareholder value. DDR is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol DDR. Additional information about the company is available atwww.ddr.com, as well as on Twitter, LinkedIn and Facebook.