Beachwood, Ohio -- Mall owner DDR Corp. said Friday that Dick's Sporting Goods will open stores at two of its shopping centers in Utah.
The new Dick's Sporting Goods locations will replace former F.Y.E. stores and result in higher and longer-term contracted rents. At the same time, the re-tenanting improves the merchandise mix and credit quality of cash flows at the shopping centers by replacing underperforming stores with a market-share and category-leading retailer.
"Retailers continue to search for new stores in a supply-constrained environment of mid-size and big-box locations, resulting in significant opportunities for owners of high-quality shopping centers to creatively work with growing tenants like Dick's Sporting Goods," said Paul Freddo, senior executive VP leasing and development for DDR.
Dick's Sporting Goods will open a 54,000-sq.-ft. store in fall 2012 at The Family Center at Orem, a 282,000-sq.-ft. shopping center anchored by Jo-Ann fabric and crafts, Toys "R" Us and Babies "R" Us.
Dick's Sporting Goods will also open a 49,000-sq.-ft. store in fall 2012 at The Family Center at Fort Union, a 670,000-sq.-ft. power center anchored by Walmart Supercenter, Bed Bath & Beyond, Ross Dress For Less, DSW, Petco and Michaels.