) disclosed the opening of 12 new outlets of Ulta Beauty - the
namesake brand of
Ulta Salon, Cosmetics & Fragrance, Inc.
) - at its 12 prime power centers by this year-end. The move will
help DDR strengthen its relationship with Ulta and enhance the
value of the shopping centers.
The 12 shopping centers in which Ulta will open its outlets
are The Commons in Md.; Belgate Shopping Center and Cotswold
Village in N.C.; Belden Park Crossings, Springfield Commons and
Great Northern Plazas in Ohio; Cotswold Village in Va.;
Connecticut Commons in Conn.; The Family Center at Fort Union in
Utah; Aspen Grove in Colo.; The Marketplace at Delta Township in
Mich.; and The Promenade at Brentwood in Mo.
As a matter of fact, these stores will be the opened in DDR's
core power centers, especially through a combination of small
shop consolidation, new construction and backfilling of low
Notably, as of now, 6 of the 12 Ulta stores have been opened,
with the remaining stores slated to open in the remainder of
2013. Upon completing the store openings, Ulta's stores will be
in 43 locations across DDR's portfolio.
With the latest store openings to take place, Ulta is now
among DDR's top 25 tenants in terms of annual base rent. We
expect the above-mentioned deal to enhance this leading retail
real estate investment trust's (REIT) top-line growth prospects
and consequently drive earnings going forward.
DDR currently carries a Zacks Rank #3 (Hold). Other
well-performing retail REITs includes
Acadia Realty Trust
Cedar Realty Trust, Inc.
). Both these stocks carry a Zacks Rank #2 (Buy).
ACADIA RLTY TR (AKR): Free Stock Analysis
CEDAR SHOPN CTR (CDR): Free Stock Analysis
DDR CORP (DDR): Free Stock Analysis Report
ULTA SALON COSM (ULTA): Free Stock Analysis
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