SEATTLE, Aug. 21 /PRNewswire-FirstCall/ -- Seattle-based Nordstrom, Inc.
(NYSE: JWN), a leading fashion specialty retailer, announced it will open a
41,680-square-foot Nordstrom Rack, a unit of the company's off-price retail
division, at Ravenswood 101 shopping center in East Palo Alto, Calif. in
spring 2009.
"We're excited to offer customers a new Nordstrom Rack in East Palo Alto
at Ravenswood 101," said Scott Meden, president of Nordstrom Rack. "We hope
customers in the South Bay area will love the outstanding brand name
merchandise we will offer at great values."
Ravenswood 101 is an existing shopping center located in East Palo Alto
directly off of U.S. Highway 101. It consists of 338,000 square feet of retail
space divided among several buildings with separate ownership, and features
retailers such as Best Buy, Home Depot and Circuit City.
"We are very pleased that Nordstrom Rack has chosen to open at Ravenswood
101," said Ryan Nickelson, Regency Centers senior manager of investments. "We
believe the addition of national retailers like Nordstrom Rack will enhance
the existing merchandise mix at the center, making it a more desirable
location for shoppers and future tenants."
Nordstrom Rack at Ravenswood 101 will be the company's fifth Rack location
in the Bay Area. Nordstrom operates Rack stores in San Francisco, Colma,
Calif., San Leandro, Calif., and San Jose, Calif. The company also operates
eight Nordstrom full-line stores in the Bay Area, including a full-line store
in Palo Alto at Stanford Shopping Center, approximately three miles away from
Ravenswood 101.
Nordstrom Rack is the company's off-price retail division offering savings
of 30 to 70 percent on apparel and accessories for women, men and children,
including one of the most extensive collections of name-brand shoes available.
Nordstrom Rack merchandise is made up of products from Nordstrom full-line
stores and the company's online store at Nordstrom.com, as well as special
purchase items.
Regency is the leading national owner, operator, and developer of
grocery-anchored and community shopping centers. At June 30, 2008, the Company
owned 443 retail properties, including those held in co-investment
partnerships. Including tenant-owned square footage, the portfolio encompassed
58.9 million square feet located in top markets throughout the United States.
Since 2000 Regency has developed 191 shopping centers, including those
currently in-process, representing an investment at completion of over
$3.0 billion. Operating as a fully integrated real estate company, Regency is
a qualified real estate investment trust that is self-administered and
self-managed.
Nordstrom, Inc. is one of the nation's leading fashion specialty
retailers, with 159 stores located in 28 states. Founded in 1901 as a shoe
store in Seattle, today Nordstrom operates 105 full-line stores, 50 Nordstrom
Racks, two Jeffrey boutiques and two clearance stores. Nordstrom also serves
customers through its online presence at http://www.nordstrom.com and through
its catalogs. Nordstrom, Inc. is publicly traded on the NYSE under the symbol
JWN.
(Logo: http://www.newscom.com/cgi-bin/prnh/20001011/NORDLOGO)
SOURCE Nordstrom, Inc.
08/21/2008
CONTACT: Michael Boyd of Nordstrom, Inc., +1-206-373-3038; or Ryan
Nickelson of Regency Centers, +1-925-279-1865
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Web site: http://www.nordstrom.com
