SEATTLE, Sept. 29, 2015 /PRNewswire/ -- Seattle-based
Nordstrom, Inc. (NYSE: JWN) announced today plans to relocate its
Rack store from 280 Metro Center to the redeveloped Serramonte
Center in Daly City, California.
The approximately 40,000-square-foot store is scheduled to open in
fall 2017. The redeveloped property is owned by Equity One,
Inc.
Nordstrom will join fellow anchors Target, JC Penney, Macy's and
Dick's Sporting Goods. The new location is just across Highway 280
from the current Nordstrom Rack, and
remains conveniently located south of where Pacific Coast Highway
meets 280.
"We've been privileged to serve this community since we first
opened here over 25 years ago," said Geevy Thomas, president of
Nordstrom Rack. "We look forward to
bringing customers a larger, brand new space, just across the
freeway at Serramonte Center, which we think will offer a better
shopping experience."
Today, there are 13 Rack stores in Northern California, with an additional
location recently announced in Santa
Rosa, opening in fall 2016. Nordstrom has been serving
customers in the state since it first opened at South Coast Plaza
in 1978.
"We are thrilled to welcome the Nordstrom brand to our 200,000
square foot expansion of Serramonte Center," said David Lukes, Chief Executive Officer of Equity
One. "Nordstrom has been an excellent partner, and we believe
Nordstrom Rack fits perfectly into
our goal of adding exciting new shopping alternatives and local
jobs to the center."
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 to 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 310 stores
in 38 states and Canada. Customers
are served at 119 Nordstrom stores in the U.S. and Canada; 183 Nordstrom Rack stores; two Jeffrey
boutiques; and one clearance store. Additionally, customers are
served online through Nordstrom.com, Nordstromrack.com and
HauteLook. The company also owns Trunk Club, a personalized
clothing service serving customers online at TrunkClub.com and its
five clubhouses. Nordstrom, Inc.'s common stock is publicly traded
on the NYSE under the symbol JWN.
About Serramonte Center
Serramonte Center is an 882,000 sq. ft. super-regional shopping
mall located in Daly City,
California. The mall is currently undergoing a 200,000
square foot expansion project to provide an exciting new range of
shopping alternatives for the residents of Daly City.
About Equity One, Inc.
As of June 30, 2015, our portfolio
comprised 124 properties, including 101 retail properties and five
non-retail properties totaling approximately 12.8 million square
feet of gross leasable area, or GLA, twelve development or
redevelopment properties with approximately 2.7 million square feet
of GLA, and six land parcels. As of June 30,
2015, our retail occupancy excluding developments and
redevelopments was 95.5% and included national, regional and local
tenants. Additionally, the company had joint venture interests in
eight retail properties and two office buildings totaling
approximately 1.8 million square feet of GLA. For more information,
please access the Equity One website at www.equityone.com.
MEDIA CONTACT:
Jessica Canfield
Nordstrom, Inc.
(206) 303-4250
jessica.canfield@nordstrom.com
Matthew Ostrower
Equity One, Inc.
(212) 796-1760
mostrower@equityone.net
Logo -
http://photos.prnewswire.com/prnh/20001011/NORDLOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/nordstrom-rack-to-relocate-280-metro-center-store-to-serramonte-center-300150635.html
SOURCE Nordstrom, Inc.