SEATTLE, Jan. 9, 2013 /PRNewswire/ -- Seattle-based Nordstrom, Inc., (NYSE: JWN) announced today plans to open a Nordstrom Rack in Atlanta, GA at the Perimeter Expo shopping center which is owned by Kimco Realty Corp. (NYSE: KIM). The approximately 36,000-square-foot store is scheduled to open in fall 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.
Nordstrom operates three full-line and three Rack stores as well as a Jeffrey boutique in the greater Atlanta metropolitan area. "We want to be a part of compelling locations across the country and are looking forward to getting our doors open to more conveniently serve our customers in northern Atlanta," said Geevy Thomas, president of Nordstrom Rack. "We've been serving customers in Atlanta since opening our Mall of Georgia Rack in 2000 and are thrilled to have the opportunity to add a Nordstrom Rack in such a terrific location as Perimeter Expo."
The new Nordstrom Rack will be centrally located at Perimeter Expo, which is easily accessible from the intersection of I-285 and GA-400 and is located just across the street from the Nordstrom full-line location at Perimeter Mall. The new one-level Rack store will occupy the street level space of the former Best Buy store and will join a strong mix of tenants including Marshall's, Old Navy, Off Broadway and Thomasville Furniture.
"We are pleased to have Nordstrom Rack as a tenant at our Perimeter Expo shopping center. This addition will complement the center and the surrounding area where we expect shoppers to welcome the new Rack store," Michael Pappagallo, executive vice president and chief operating officer of Kimco, commented. "With this new store, Nordstrom Rack will have eleven locations in Kimco Realty Corp. properties."
Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that owns and operates North America's largest portfolio of neighborhood and community shopping centers. As of Sept. 30, 2012, the company owned interests in 922 shopping centers comprising 135 million square feet of leasable space across 44 states, Puerto Rico, Canada, Mexico and South America. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for more than 50 years. For further information, please visit www.kimcorealty.com, the company's blog at blog.kimcorealty.com, or follow Kimco on Twitter at www.twitter.com/kimcorealty.
Nordstrom, Inc. is one of the leading fashion specialty retailers based in the U.S. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 240 stores in 31 states, including 117 full-line stores, 119 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.
David F. Bujnicki
Kimco Realty Corp.
SOURCE Nordstrom, Inc.