SOURCE: Developers Diversified Realty

August 07, 2008 12:42 ET

Macy's to Join Nampa Gateway Center

Developers Diversified Realty Shopping Center Gains Another Strong Anchor

BEACHWOOD, OH--(Marketwire - August 7, 2008) - Developers Diversified Realty (NYSE: DDR) has announced that Macy's will occupy an anchor position at Nampa Gateway Center, a 968,000-square foot, open-air shopping center in Nampa, ID, a western suburb of Boise.

At 103,000 square feet, the Nampa store will be one-level, designed specifically for an open-air center concept. It will include a "main street" entrance configuration, centralized banks of fitting rooms, and an emphasis on natural lighting via skylights and exterior windows. The department store will feature a full range of apparel and accessories for men, women and children, as well as merchandise for the home.

"We look forward to bringing an exciting new shopping experience to the Nampa area," said Jeff Gennette, chairman and chief executive officer of Macy's West, in an announcement issued today. "Our dynamic store design will offer customers a new shopping experience and our merchandise selection will deliver fashion and affordable luxury for our shoppers. We also think the new location is well-positioned to serve Nampa as well as Caldwell, Meridian and west Boise."

Nampa Gateway Center now boasts two department store anchors, JCPenney -- which is open and operating -- and Macy's, which is expected to open in fall 2009. The two destination retailers will be connected by a drivable street, which will be lined with specialty shops. Sports Authority has also signed on and is scheduled to open in spring 2009, along with an upscale fitness center. A selection of national and regional specialty shops, a dozen restaurants and a select service brand hotel will occupy outparcels on the 104-acre site.

"The addition of Macy's will further enhance Nampa Gateway Center's position as a regional shopping destination," says Marc Hays, senior vice president of leasing-specialty centers for Developers Diversified. "This location is a natural destination for mainstream fashion retail tenants to add an additional store in the market and serve the rapidly growing western suburbs of Boise."

The shopping center's architecture is characteristic of the mountain western states, with an abundance of beautiful natural stone and timber. The complex will be pedestrian friendly with inviting walkways and consumer amenities.

Developers Diversified Realty currently owns and manages approximately 730 retail operating and development properties in 45 states, plus Puerto Rico, Brazil, Russia and Canada, totaling approximately 157 million square feet. Developers Diversified is a self-administered and self-managed REIT operating as a fully integrated real estate company that acquires, develops, leases and manages shopping centers. More information about Developers Diversified is available on the Internet at www.ddr.com.

Contact Information

  • Contact:
    Scott R. Schroeder
    Vice President of Marketing and Corporate Communications
    Developers Diversified Realty
    216.755.5500