Nordstrom Rack at Flatiron Marketplace Relocating to Twenty Ninth Street in Boulder

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May 14, 2010, 01:10 ET

SEATTLE, May 14 /PRNewswire-FirstCall/ -- Seattle-based Nordstrom, Inc. (NYSE: JWN) announced today plans to relocate its Nordstrom Rack store from Flatiron Marketplace in Broomfield, Colo. to the Twenty Ninth Street shopping center in Boulder, Colo. The new 35,000 square-foot Rack will be larger than the existing store and centrally located in Boulder at the intersection of 28th Street and Arapahoe. The relocated store is expected to open in spring 2011.

Nordstrom Rack is a unit of the company's off-price retail division and carries merchandise from Nordstrom stores and Nordstrom.com at 50-60% off original Nordstrom prices. Nordstrom Rack also offers a wide selection of apparel, accessories and shoes from many of the brands carried in Nordstrom stores and purchased specially for Nordstrom Rack, with most at savings of 30-70% off.

The relocated Nordstrom Rack will join a group of other existing Twenty Ninth Street retailers that includes Macy's, Apple, Borders Books, Music & Cafe, Anthropologie and White House Black Market. The move follows the expiration of Nordstrom's lease at Flatiron Marketplace, where it has operated a Rack store since 2001. Macerich is the owner and developer of both Twenty Ninth Street and FlatIron Crossing, where Nordstrom operates a full-line Nordstrom store.

"We love serving our Boulder and Broomfield area customers," said Geevy Thomas, president of Nordstrom Rack. "While Flatiron Marketplace has been a good home for us, we believe relocating to Boulder gives us a great opportunity to improve the Rack shopping experience for our customers. We think this location in the heart of Boulder will help us serve more customers and we're excited to open our doors next spring at Twenty Ninth Street."

"Nordstrom Rack brings a great, new energy to Twenty Ninth Street," said Randy Brant, executive vice president of real estate for Macerich® (NYSE: MAC). "The addition of this highly sought after retailer will bring considerable distinction for Twenty Ninth Street and the Boulder shopper through their great offering of fashion and value."

About Nordstrom

Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with 193 stores located in 28 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 114 full-line stores, 76 Nordstrom Racks, two Jeffrey boutiques and one clearance store. Nordstrom also serves customers through its online presence at www.nordstrom.com and through its catalogs. Nordstrom, Inc. is publicly traded on the NYSE under the symbol JWN.

About Twenty Ninth Street

With 830,000 square feet of retail featuring more than 70 specialty shops and restaurants, including Macy's and Century Theatres, Twenty Ninth Street is the premier mixed-use, outdoor shopping center serving the Greater Boulder area. For more information, visit www.twentyninthstreet.com .

About Macerich

Twenty Ninth Street's parent company, Macerich, is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. The Company is the sole general partner and owns an 91% ownership interest in The Macerich Partnership, L.P. Macerich now owns approximately 74 million square feet of gross leaseable area consisting primarily of interests in 71 regional malls. Additional information about Macerich can be obtained from the Company's Web site at www.macerich.com.

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