SEATTLE, May 25, 2011 /PRNewswire/ -- Seattle-based Nordstrom, Inc. (NYSE: JWN) announced plans to open a Nordstrom Rack in Phoenix, Ariz. at The Shops at Town & Country. The new 35,000-square-foot store is slated to open fall 2012.
"Town & Country is a terrific location for a Nordstrom Rack in Phoenix," said Geevy Thomas, president of Nordstrom Rack. "We're thrilled about the opportunity to be able to better serve our customers in this community and we look forward to opening our doors in 2012."
The new Nordstrom Rack will be the fourth Rack store in the Phoenix area joining locations at Scottsdale Promenade Shopping Center, Chandler Festival Shopping Center, and Arrowhead Crossing in Peoria. The company operates two full-line Nordstrom stores in Arizona at Scottsdale Fashion Square and Chandler Fashion Center. Nordstrom Rack will also open on October 13, 2011, at The Corner in Tucson.
Town & Country is a 325,000-square-foot mixed use center and is conveniently located off Camelback Road and 20th Street. Town & Country is owned and managed in partnership with RED Development.
"Town & Country is a great setting for the first Nordstrom Rack in the City of Phoenix," said Mike Ebert, Managing Partner of RED Development. "The shopping center is well poised for the future with its central location and strong community sentiment. Nordstrom Rack will give shoppers a great new reason to visit this special property."
About Nordstrom Rack:
Nordstrom Rack, a unit of the company's off-price retail division, 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.
About Nordstrom:
Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with 214 stores located in 29 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 116 full-line stores, 95 Nordstrom Racks, two Jeffrey boutiques and one clearance store. Nordstrom also serves customers through its online presence at Nordstrom.com and through its catalogs. Nordstrom, Inc.'s common stock is publicly traded on the NYSE under the symbol JWN.
About RED Development, LLC:
RED Development, LLC, formed in 1995, develops, leases, manages, owns, and advises on shopping centers throughout the United States. The company, with co-headquarters in Kansas City, MO. and Phoenix, AZ., has experience developing and consulting on a wide variety of commercial retail projects, including open-air regional shopping centers, better known as lifestyle centers, neighborhood grocery-anchored stores, regional power centers, mall re-development and mixed-use projects. With mixed-use development opportunities, RED maximizes projects by combining retail with residential, office and/or hotels. RED also partners with home builders to provide convenient retail and dining destinations within master-planned communities. RED has 39 projects open, under construction or in development, totaling more than 22 million square feet. To learn more about how RED is "REDefining" retail and entertainment development, visit www.reddevelopment.com.
(Logo: http://photos.prnewswire.com/prnh/20001011/NORDLOGO)
MEDIA CONTACTS:
Colin Johnson
Nordstrom, Inc.
(206) 373-3036
Robyn Young
RED Development
(480) 556-8818
SOURCE Nordstrom, Inc.
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