Developer favors stable markets

July 7, 2008

Communities with stable populations, including Pittsburgh, are ideal for shopping center developers during depressed times, according to the president of a Cleveland real estate company with major holdings in this region.”We built or purchased centers in these communities, many in the North East, because our decisions were based on the population and economies of those areas,” said Dan Hurwitz, president for Developers Diversified Realty Corp.

“Developers rushed to fast growth areas such as those in California, Arizona and Florida during the past few years, building shopping centers on spec, only now to find it difficult READ MORE

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