Nordstrom Signs With General Growth Properties to Open Four Brand New Stores
November 20 2006 - 4:05PM
PR Newswire (US)
Leading Fashion Specialty Retailer Will Open New Stores at General
Growth Properties in Ohio, Missouri, Delaware and a Newly Relocated
Store in Murray, Utah, in Addition to a Remodel in Montclair,
California SEATTLE, Nov. 20 /PRNewswire-FirstCall/ -- Seattle-based
Nordstrom, Inc. (NYSE:JWN), a leading fashion specialty retailer
announced it signed letters of intent with General Growth
Properties, Inc. (NYSE:GGP) to open three new Nordstrom stores in
the states of Ohio, Missouri and Delaware, as well as to relocate
their current store at Fashion Place in Murray, Utah. In addition,
the Nordstrom location at Montclair Plaza, in Montclair, Calif.,
will undergo a renovation. The three new locations will be in the
Christiana Mall in Newark, Del.; Saint Louis Galleria in St. Louis;
and in the Kenwood Towne Centre in Cincinnati. (Logo:
http://www.newscom.com/cgi-bin/prnh/20001011/NORDLOGO ) "We are
fortunate to find desirable locations across the U.S.," said Erik
Nordstrom, president of stores. "There is still much opportunity to
increase our presence around the country where our customers live
and shop. General Growth is a quality partner who has done a great
job at presenting us with some compelling projects and we are
thrilled to join these new centers." "This is a great opportunity
for General Growth and Nordstrom to work together in creating an
unparalleled line-up of retail in these markets. Nordstrom's
commitment to quality merchandise and customer service complement
our VISION of People Creating Special Places and Experiences," said
John Bucksbaum, chief executive officer of General Growth
Properties, Inc. "In addition to the three new stores, the
relocation at Fashion Place and the renovation of the Nordstrom
store at Montclair Plaza demonstrate long-term commitment to these
centers and the markets in which they're located." Kenwood Towne
Centre in Cincinnati is the site of a new, two-level Nordstrom
store. The store will be approximately 140,000 square feet. It is
set to open in fall 2009 where the Parisian store is currently
located. Offering a unique shopping experience, Kenwood Towne
Centre has more than 180 specialty retailers. Nordstrom currently
operates a Full-Line Store in Beachwood and at Easton Town Center
in Columbus, Ohio. The Saint Louis Galleria in St. Louis is the
location of a new, 140,000 square foot Nordstrom store due to open
in spring 2010. It will be built in the previous Lord & Taylor
location alongside a great mix of retailers, entertainment and
restaurants. Nordstrom currently operates a Full-Line Store at West
County Mall in Des Peres. Located in Newark, Del., the Christiana
Mall will offer a two-level, 140,000 square foot Nordstrom store.
The store is scheduled to open in spring 2011. Christiana Mall is
undergoing a major redevelopment and expansion, adding over 200,000
square feet of specialty shops and restaurants. As part of the
Fashion Place expansion, the Nordstrom store in Murray, Utah, will
relocate to a brand new, larger store in spring 2009. The new store
will be two-levels and 140,000 square feet. Fashion Place has
redevelopment plans that will add 150,000 square feet of shops and
restaurants. The current Nordstrom store, which opened in 1981,
will continue to serve customers until the new building is
complete. "We have many long-time customers in Utah and we are
looking forward to offering shoppers and our employees in and
around the Salt Lake area a brand new store," said Nordstrom.
Nordstrom is also planning a complete renovation to the current
134,000 square foot location at Montclair Plaza in Montclair,
Calif. The Nordstrom renovation project at Montclair Plaza is part
of a large-scale renovation and remodel of the entire shopping
center beginning next year. Montclair Plaza is a two-level shopping
center with nearly 200 specialty retailers. General Growth
Properties, Inc. is the second largest U.S.-based publicly traded
Real Estate Investment Trust (REIT). General Growth currently has
an ownership interest in or management responsibility for a
portfolio of more than 200 shopping malls in 44 states, as well as
ownership in planned community developments and commercial office
buildings. The portfolio totals approximately 200 million square
feet of retail space and includes more than 24,000 retail stores
nationwide. General Growth Properties, Inc. is listed on the New
York Stock Exchange under the symbol GGP. For more information,
please visit the Company Web site at http://www.generalgrowth.com/
. Nordstrom, Inc. is one of the nation's leading fashion specialty
retailers, with 157 US stores located in 27 states. Founded in 1901
as a shoe store in Seattle, today Nordstrom operates 99 Full-Line
Stores, 50 Nordstrom Racks, five Faconnable boutiques, one
freestanding shoe store and two clearance stores. Nordstrom also
operates 35 international Faconnable boutiques in Europe.
Additionally, Nordstrom 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. CONTACT: Deniz Anders Nordstrom, Inc. 206-373-3038 David
Keating General Growth Properties, Inc. 312-960-6325
http://www.newscom.com/cgi-bin/prnh/20001011/NORDLOGO
http://photoarchive.ap.org/ DATASOURCE: Nordstrom, Inc. CONTACT:
Deniz Anders of Nordstrom, Inc., +1-206-373-3038; or David Keating
of General Growth Properties, Inc., +1-312-960-6325 Web site:
http://www.nordstrom.com/ http://www.generalgrowth.com/
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