SEATTLE, Jan. 14, 2015 /PRNewswire/ -- Seattle-based
Nordstrom, Inc. (NYSE: JWN) announced today plans to open a
Nordstrom Rack at Chapel Hills East in Colorado Springs, Colo. The 31,203-square-foot
store is scheduled to open in spring 2016. The property is owned
and managed by DDR Corp. (NYSE: DDR).
When the new store opens, it will be the sixth Rack in
Colorado. The company recently
announced a new Rack location opening in Fort Collins in fall 2015. Nordstrom also
operates three full line stores and first came to Colorado in 1996 with a store at Park
Meadows.
"We've been focused on finding the best locations across
Colorado, and this new Rack will
allow us to take care of more customers living in Colorado Springs," said Geevy Thomas,
president of Nordstrom Rack. "Chapel
Hills East is a great fit for us, and we look forward to
serving customers when we open."
Chapel Hill East is located in north central Colorado Springs off of Academy Blvd.
Nordstrom Rack will join other
tenants such as Whole Foods, DSW, Best Buy, Old Navy and
Carter's.
"We are extremely pleased to add Nordstrom Rack to Chapel Hills East," said
Paul Freddo, senior executive vice
president of leasing and development for DDR. "This best-in-class
retailer brings a synergy to our shopping centers that not only
enhances the merchandise mix, but expands the regional draw and
traffic levels. Chapel Hills East represents our 14th
location with Nordstrom Rack, and we
look forward to our continued partnership."
Nordstrom Rack is the off-price
retail division of Nordstrom, Inc., offering customers a wide
selection of on-trend apparel, accessories and shoes at an everyday
savings of 30-70 percent off regular prices. The Rack carries
merchandise from Nordstrom stores and Nordstrom.com, as well as
specially purchased items from many of the top brands sold at
Nordstrom. The Rack is designed to provide the ultimate treasure
hunt to style-savvy customers.
About Nordstrom
Nordstrom, Inc. is a leading fashion
specialty retailer based in the U.S. Founded in 1901 as a shoe
store in Seattle, today Nordstrom
operates 292 stores in 38 states, including 116 full-line stores in
the United States and one in
Canada; 167 Nordstrom Racks; two
Jeffrey boutiques; and one clearance store. Nordstrom also serves
customers online through Nordstrom.com, Nordstromrack.com and
private sale site HauteLook. The company also owns Trunk Club, a
personalized clothing service that takes care of customers online
at TrunkClub.com and its five showrooms. Nordstrom, Inc.'s common
stock is publicly traded on the NYSE under the symbol JWN.
About Chapel Hills East
Acquired by DDR in 2011,
Chapel Hills East is a 220,000-square-foot shopping center located
in north central Colorado Springs,
and is anchored by Whole Foods, DSW, Best Buy, Old Navy and
Carter's. To accommodate the addition of Nordstrom Rack, DDR is relocating an in-line
junior anchor to an adjacent space located at the North portion of
the center, and recapturing 7,000 square feet from DSW. The
center serves a trade area population of 300,000 people and
benefits from strong traffic from its location adjacent to Chapel
Hills Mall and the United States Air Force
Academy.
About DDR Corp
DDR (NYSE: DDR) is an owner and manager
of 415 value-oriented shopping centers representing 118 million
square feet in 41 states and Puerto Rico. The Company's
assets are concentrated in high barrier-to-entry markets with
stable populations and high growth potential and its portfolio is
actively managed to create long-term shareholder value. DDR is a
self-administered and self-managed REIT operating as a fully
integrated real estate company. Additional information about
the Company is available at www.ddr.com, as well as on Twitter,
LinkedIn and Facebook.
MEDIA CONTACTS:
Naomi Tobis
Nordstrom, Inc.
(206) 303-4250
naomi.tobis@nordstrom.com
Matt Schuler
DDR Corp.
(216) 755-5842
MSchuler@ddr.com
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SOURCE Nordstrom, Inc.