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Interview With Cedar Shopping Centers' Ullman

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LI Biz Blog has excerpts of an interview with Cedar Shopping Centers CEO Leo S. Ullman.

TWST: Looking ahead for the next few years, what are the main opportunities that lie ahead and what are the main strategies that you will be employing?

Mr. Ullman: We hope to continue to build on what we have started with, which is to enhance the portfolio that we have been developing primarily in Pennsylvania, Massachusetts, Connecticut, Virginia, Maryland, New Jersey, New York and Delaware. We think these are uniquely strong areas and we think we are very well positioned in those areas to continue to compete effectively. We look to develop where we can, either ourselves or in partnership with a few local developers that we would finance and help, banking on our special development experience and on our relationships with grocery anchors, for example, as the driving force for these types of property developments. They would generally be 120,000 to 180,000 square foot centers with a grocer that might represent 40% to 60% of that area. We would continue generally not to take down a development site until we have a signed lease with primarily a grocery anchor, for example.

The full interview is at Yahoo.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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