Nordstrom Rack To Open In Columbia, Md.
SEATTLE, Dec. 17, 2012 /PRNewswire/ -- Seattle-based Nordstrom, Inc., (NYSE: JWN) announced today plans to open a Nordstrom Rack at Columbia Crossing in Columbia, Md., a shopping center that is owned and operated by Kimco Realty Corp. (NYSE: KIM). The approximately 40,750-square-foot store is expected to open in 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.
Nordstrom currently operates three Rack stores and four full-line stores in Maryland. "We're fortunate to have lots of customer living in Maryland and hope this new store will make it more convenient for our Columbia customers to shop both our full-line and Rack locations," said Geevy Thomas, president of Nordstrom Rack.
Columbia Crossing is a 475,000 square-foot power center conveniently located off the Columbia-Jessup exit of Interstate 95, with excellent accessibility to Maryland Route 175, and just three miles east of where Nordstrom operates a full-line store at The Mall in Columbia. The new Nordstrom Rack will join a strong mix of tenants at Columbia Crossing including Target, TJMaxx, Dick's Sporting Goods and Old Navy. The new store will occupy the former Room Store space.
"We are confident that the opening of Nordstrom Rack at Columbia Crossing will be met with great enthusiasm," said Michael Pappagallo, executive vice president and chief operating officer of Kimco. "Our shoppers are always very excited when we add this upscale fashion retailer to the tenant mix at our centers, and we expect our tenth location with Nordstrom to be no exception."
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.