SEATTLE (December 22, 2009) — Nordstrom, Inc. (NYSE: JWN) announced today it has signed a Letter of Intent to lease approximately 265,000 square feet of space in the combined Russell Investments Center / Seattle Art Museum (SAM) building in downtown Seattle, of which approximately 182,000 square feet is from SAM and approximately 83,000 square feet is from Russell Investments Center. The Letter of Intent is to lease floors 7 through 12 and part of floor 5, with an option to lease additional space in the future. Discussions are in process with other possible tenants to lease two additional floors owned by SAM.
The organizations expect to execute a lease in early 2010. Nordstrom expects to begin occupying the new space at 1301 Second Avenue in 2010. Negotiations are being managed by Pine Street Group L.L.C. and Washington Partners of Seattle, Wash.
Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with 184 stores located in 28 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 112 Full-line stores, 69 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.
For over 75 years, the Seattle Art Museum (SAM) has been a leading visual arts institution in the Pacific Northwest. Through its three locations — the Seattle Art Museum downtown, Seattle Asian Art Museum (SAAM) in Volunteer Park and the Olympic Sculpture Park (OSP) in Belltown — SAM connects art to life through special exhibitions, educational programs and installations drawn from its collection of approximately 25,000 objects from more than 140 cultures.
Seattle Art Museum
Pine Street Group L.L.C.
SOURCE Nordstrom, Inc. and Seattle Art Museum