SEATTLE, Jan. 7, 2014 /PRNewswire/ -- Seattle-based Nordstrom, Inc. (NYSE: JWN) announced today plans to open a Nordstrom Rack at Lake Brandon Plaza in Brandon, Fla. The approximately 32,700-square-foot store is scheduled to open in fall 2014. Lake Brandon Plaza is owned and managed by DDR Corp. (NYSE: DDR).
Nordstrom Rack is the off-price retail division of Nordstrom, Inc., offering customers a wide selection of on-trend apparel, accessories and shoes at an everyday savings of 30-70 percent off regular prices. The Rack carries merchandise from Nordstrom stores and Nordstrom.com and specially-purchased items from many of the top brands sold at Nordstrom. The Rack is designed to provide the ultimate treasure hunt to style-savvy customers.
When it opens, the Lake Brandon Plaza Nordstrom Rack will be the company's third location in the greater Tampa area. Nordstrom has operated a full-line store at International Plaza since 2001. The first Nordstrom Rack in Tampa opened at Walters Crossing in 2010.
"Since 2010, customers in Tampa have enjoyed shopping at the Rack and we hope our new store at Lake Brandon Plaza will help us more conveniently serve the many customers we are fortunate to have in west central Florida," said Geevy Thomas, president of Nordstrom Rack.
The new Nordstrom Rack is located off Interstate 75. It will move into the space currently occupied by Babies "R" Us and join a strong surrounding retail scene. Nearby stores include Publix Super Market, Jo-Ann Fabric and Craft, Kohl's and Sports Authority.
"The addition of Nordstrom Rack greatly enhances the merchandising mix while simultaneously expanding the regional draw of Lake Brandon Plaza," said Paul Freddo, senior executive vice president of leasing and development for DDR. "The Lake Brandon Plaza location will be the eighth Nordstrom Rack store in our portfolio and we look forward to continued success and expansion with Nordstrom's off-price division."
About Lake Brandon Plaza Lake Brandon Plaza is a 440,442-square-foot retail property located in Brandon, Florida, featuring a trade area population of 416,300. The property's other anchor tenants include Publix, Jo-Ann Fabric and Craft, buybuy BABY, PetSmart, Sports Authority and Lowe's. Lake Brandon Plaza occupies a prime location in the Tampa MSA, just off Interstate 75 and near Brandon Mall, further expanding its regional draw.
About DDR Corp. DDR Corp. (NYSE: DDR) is an owner and manager of 417 value-oriented shopping centers representing 114 million square feet in 39 states, Puerto Rico and Brazil. The company's assets are concentrated in high barrier-to-entry markets with stable populations and high growth potential and its portfolio is actively managed to create long-term shareholder value. DDR is a self-administered and self-managed REIT operating as a fully integrated real estate company and is publicly traded on the New York Stock Exchange under the ticker symbol DDR. Additional information about the company is available at www.ddr.com, as well as on Twitter, LinkedIn and Facebook.
About Nordstrom 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 261 stores in 35 states, including 117 full-line stores, 141 Nordstrom Racks, two Jeffrey boutiques and one clearance store. Nordstrom also serves customers through Nordstrom.com and in the online private sale marketplace, HauteLook. Nordstrom, Inc.'s common stock is publicly traded on the NYSE under the symbol JWN.
MEDIA CONTACTS: Naomi Tobis Nordstrom, Inc. (206) 303-4250 Naomi.firstname.lastname@example.org
Matt Schuler DDR Corp. (216) 755-5500 MSchuler@ddr.com
SOURCE Nordstrom, Inc.