SEATTLE, Sept. 19, 2012 /PRNewswire/ -- Seattle-based Nordstrom, Inc., (NYSE: JWN) announced today plans to open a new Nordstrom Rack at Arborland Center in Ann Arbor, Mich. The approximately 30,000-square-foot store is scheduled to open spring 2013.
Nordstrom Rack is the off-price retail division of Nordstrom, Inc., carrying on-trend merchandise from Nordstrom stores and Nordstrom.com at 50 to 60 percent 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. These items are purchased specially for Nordstrom Rack, with most at savings of 30 to 70 percent off.
The new Nordstrom Rack will be located at Arborland Center, an existing power center conveniently located in southeastern Ann Arbor between the University of Michigan and Eastern Michigan University. The new store will join anchor tenants Bed Bath & Beyond, DSW, Marshalls, Ulta and Old Navy. Arborland Center is owned and managed by AmCap, Inc.
The new location will be the retailer's third Rack store in the state of Michigan. Additionally, Nordstrom operates three full-line stores in the area. "Michigan has been a great home to us since we first started serving customers at our Somerset Collection full-line store in 1996," said Geevy Thomas, president of Nordstrom Rack. "We're thrilled to be a part of the Ann Arbor community and look forward to better serving our new and existing customers in the area."
"We are excited to have Nordstrom Rack join our strong lineup of tenants that serve Ann Arbor and the surrounding areas," said Ira Shwartz, President, AmCap Properties, Inc. "Nordstrom Rack's presence in Arborland Center will be a wonderful complement and fits within our strategic vision of bringing great retailers to our shopping centers."
About AmCap, Inc
AmCap Inc., a privately held equity real estate firm based in Stamford, CT, is a leading owner/operator of predominately open air shopping centers across the country. The company is currently focusing on acquiring grocery anchored properties in strong demographic and income areas. For more information, visit the AmCap website at www.AmCap.com.
Nordstrom, Inc. is one of the nation's leading fashion specialty retailers. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 234 stores in 31 states, including 117 full-line stores, 113 Nordstrom Racks, two Jeffrey boutiques, one treasure&bond store and one clearance store. Nordstrom also serves customers through Nordstrom.com and through its catalogs. Additionally, the Company operates in the online private sale marketplace through its subsidiary HauteLook. Nordstrom, Inc.'s common stock is publicly traded on the NYSE under the symbol JWN
SOURCE Nordstrom, Inc.