Nordstrom Rack to Open First Tucson Store in 2011

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Apr 09, 2010, 12:00 ET

SEATTLE, April 9 /PRNewswire-FirstCall/ -- Seattle-based Nordstrom, Inc. (NYSE: JWN) plans to open a new Nordstrom Rack at The Corner shopping center in Tucson, Ariz., the company announced today. The 33,200-square-foot store will be the first Nordstrom Rack in Tucson and is scheduled to open in fall 2011.

Nordstrom Rack is the off-price retail division of Nordstrom, and carries clearance 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.

"We can't wait to open our doors next fall and get to work serving more of our customers," said Geevy Thomas, president of Nordstrom Rack. "It's really exciting to be able to open our first Nordstrom Rack in Tucson."

The Corner is a newly-developed open air shopping center located at the intersection of Oracle Road and Wetmore Road, directly across the street from the Tucson Mall. Nordstrom Rack will join Total Wine & More at The Corner which will encompass approximately 79,000 square-feet of retail space when fully developed. BP Wetmore Phase III Investors, LLC, an affiliate of Bourn Companies, LLC, is the developer for the property.

"We are thrilled to be working with Nordstrom to bring a Rack store to The Corner, serving all of southern Arizona," said Don Bourn, principal of the Bourn Companies, LLC.

When it opens, The Corner Rack will be the fourth Nordstrom Rack in Arizona. Nordstrom currently operates two Nordstrom stores and two Rack stores in Scottsdale and Chandler, with plans to open another Nordstrom Rack at the Arrowhead Crossing shopping center in Peoria during fall 2010.

Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with 190 stores located in 28 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 113 full-line stores, 74 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.

Bourn Companies is a fully integrated group of real estate companies that lead their respective markets in real estate development, leasing and management. Bourn's growing businesses span key retail, office and industrial property markets in Arizona California, Colorado, Nebraska and Texas.

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