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Article: Late News.
- Article from:
- Crain's Cleveland Business
- Article date:
- April 5, 2004
CopyrightCOPYRIGHT 2004 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DDR GROWTH FORCES OFFICE EXPANSIONS
The space crunch at Developers Diversified Realty Corp. is such that the real estate investment trust plans to lease 12,500 square feet of office space until it constructs a 45,000-square-foot building to double the size of its Beachwood headquarters. David Jacobstein, president and chief operating officer, said the REIT is negotiating for space he wouldn't identify. The temporary office will make room for the 50 to 55 people Developers Diversified likely will hire here to handle the added business from the $2.3 billion purchase announced last week of 110 shopping centers from Benderson Development Co. of University Park, Fla.