SEATTLE, July 12, 2017 /PRNewswire/ -- Seattle-based Nordstrom, Inc. announced plans
to open a Nordstrom Rack at The Promenade at Town Center in
Santa Clarita, California. The
approximately 30,000-square-foot store is scheduled to open in
spring 2018.
Just 35 miles from downtown Los
Angeles, The Promenade at Town Center is located off I-5 at
the intersection of Magic Mountain Parkway and McBean Parkway. The
new Nordstrom Rack store will join
more than seven existing retailers in the area.
"We've been fortunate to serve customers in the Los Angeles area for many years and we're
thrilled to add a new Nordstrom Rack
location in beautiful Santa
Clarita," said Karen
McKibbin, president of Nordstrom
Rack. "We're excited to offer local customers a more
convenient location to shop great brands at great Rack prices."
This will be the first Nordstrom
Rack store in Santa
Clarita. This fall the company is also opening a new
Nordstrom Rack at FIGat7th in
downtown Los Angeles and
relocating a full-line store to Los
Angeles' Westfield Century City.
"Nordstrom Rack is a strong
operator, with offerings that are well aligned with the local
demographics," said Ben Green, Asset
Manager at Barings, LLC. "We are confident that the store will be
embraced by the community and have strong sales volumes. We
are excited to have Nordstrom Rack
join The Promenade's existing roster of tenants, including
HomeGoods, Party City, and Tilly's. With the addition of
Nordstrom Rack, The Promenade at
Town Center is the preeminent community shopping center in the
Santa Clarita Valley and continues to be a solid investment for our
fund."
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. Nordstrom Rack stores offer convenient mobile
check-out, allowing customers to skip the lines and purchase their
items from a salesperson anywhere in the store. Nordstrom Rack merchandise comes from Nordstrom
stores and Nordstrom.com, as well as specially purchased items from
many of the top brands available at Nordstrom. Customers can shop
an even larger selection of merchandise on nordstromrack.com or
through the Nordstrom Rack +
HauteLook mobile app, which features a Scan and Shop button to
easily locate and order items not available in the store. 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 354 stores in 40 states, including 122 full-line stores in
the United States, Canada and Puerto
Rico; 221 Nordstrom Rack stores; two Jeffrey boutiques; and
two clearance stores. 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 seven clubhouses.
Nordstrom, Inc.'s common stock is publicly traded on the NYSE under
the symbol JWN.
About Barings Real Estate Advisers
Barings Real Estate
Advisers is part of Barings LLC, one of the world's largest
diversified real estate investment managers. The group is an active
investor in private and public, equity and debt markets,
and provides core, value-added, and opportunistic investment
and advisory services to institutional and other qualified
investors around the globe.
About Barings
Barings is a $280+billion* global asset
management firm dedicated to meeting the evolving investment and
capital needs of our clients. We build lasting partnerships that
leverage our distinctive expertise across traditional and
alternative asset classes to deliver innovative solutions and
exceptional service. A member of the MassMutual Financial Group,
Barings maintains a strong global presence with over 600 investment
professionals and offices in 17 countries. Learn more, at
www.barings.com.
*As of March 31, 2017.
MEDIA CONTACTS:
Brenna
Sussman
Nordstrom, Inc.
(206) 303-2316
Brenna.Sussman@nordstrom.com
Ben Green
Barings LLC
(310) 234-2525
Ben.Green@barings.com
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SOURCE Nordstrom, Inc.