Nordstrom Rack To Relocate King Of Prussia Store At The Overlook To The King Of Prussia Town Center

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Feb 12, 2015, 02:00 ET

SEATTLE, Feb. 12, 2015 /PRNewswire/ -- Seattle-based Nordstrom, Inc. (NYSE: JWN) today announced plans to relocate its Rack store at The Overlook at King of Prussia to the King of Prussia Town Center. The Rack will move into a 35,000-square-foot space and is scheduled to open in fall 2016. The property is being developed by JBGR Retail and is slated for ground breaking in 2015.

The new Nordstrom Rack will join retailers including Wegmans and ULTA Beauty. King of Prussia Town Center is conveniently located at the crossroads of four major highways – Routes 202 and 422, the Schuykill Expressway and the Pennsylvania Turnpike. The center is adjacent to King of Prussia Mall where Nordstrom has operated a full-line store since 1996.

"The Overlook at King of Prussia has been a great home to us since we opened our Rack store in 2002," said Geevy Thomas, president of Nordstrom Rack. "We love serving this community and we look forward to relocating to a ground level space we believe will be a better shopping experience for our customers."

Today, the company has four Rack stores in the greater Philadelphia area and most recently opened a Rack on Chestnut Street in Center City.

"We are proud to welcome Nordstrom Rack to our King of Prussia Town Center family," said Tom Sebastian, senior vice president at JBGR Retail. "As a leading off-price fashion specialty retailer, Nordstrom Rack is a great addition to our new Town Center which offers unparalleled visibility and access."

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. The Rack carries merchandise from Nordstrom stores and Nordstrom.com and 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 292 stores in 38 states, including 116 full-line stores in the United States and one in Canada; 167 Nordstrom Racks; two Jeffrey boutiques; and one clearance store. Nordstrom also serves customers online through Nordstrom.com, Nordstromrack.com and private sale site HauteLook. The company also owns Trunk Club, a personalized clothing service that takes care of customers online at TrunkClub.com and its five showrooms. Nordstrom, Inc.'s common stock is publicly traded on the NYSE under the symbol JWN.

About JBGR Retail

Established in 1995 as a joint venture between Rosenfeld Realty and The JBG Companies, JBGR Retail is an owner, developer, manager and leasing agent of retail and retail-driven mixed-use properties in the Mid-Atlantic region. With over 65 properties in Maryland, Virginia, Pennsylvania, West Virginia and Washington DC, JBGR's portfolio contains over six million square feet of grocery-anchored community shopping centers, free standing retail sites and mixed-use developments.

About King of Prussia Town Center

King of Prussia Town Center is a 250,000+ square foot retail and dining destination currently under development by JBGR Retail, a leader in the ownership, development, management and leasing of retail and retail-driven mixed-use properties in the Mid-Atlantic region. Slated for groundbreaking in 2015, King of Prussia Town Center will feature a mix of signature national retailers, restaurants and entertainment destinations. Located in King of Prussia, Pa. and adjacent to the iconic King of Prussia Mall, this one-of-a-kind, lifestyle-oriented shopping and dining locale will include over 1,200 parking spaces for its 18 buildings. All of the Center's commercial tenants are anticipated to be open to the public and operating by the end of 2016.

MEDIA CONTACTS:
Naomi Tobis
Nordstrom, Inc.
(206) 303-4250
[email protected]

Tom Sebastian
JBGR Retail
(301) 657-0700
[email protected]

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Logo - http://photos.prnewswire.com/prnh/20001011/NORDLOGO

SOURCE Nordstrom, Inc.