SEATTLE, Nov. 11, 2013 /PRNewswire/ -- Seattle-based Nordstrom, Inc. (NYSE: JWN) announced today plans to open a Nordstrom Rack at Magnolia Park in Greenville, S.C. The approximately 32,000-square-foot store is scheduled to open in fall 2014. Magnolia Park is being developed by Menin Development, Inc.
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, as well as 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.
The Magnolia Park Nordstrom Rack will be the company's first location in South Carolina. "We're thrilled to have this opportunity to bring a Nordstrom Rack closer to home for customers in South Carolina," said Geevy Thomas, president of Nordstrom Rack. "Magnolia Park is an excellent location and we look forward to earning the business of customers there when we open our doors next fall."
Nordstrom Rack joins a growing list of retailers filling out the final phase of development at Magnolia Park. When complete, the center will offer customers 800,000 square feet of retail, dining and entertainment. Current tenants include Costco, Regal Cinemas, Toys"R"Us and Babies"R"Us.
"Magnolia Park is proud to include Nordstrom Rack in its stellar collection of retailers and restaurants," said Marc Yavinsky, executive vice president of Menin Development, Inc. "We are privileged to help provide the opportunity for Nordstrom Rack to make its entry into the state of South Carolina and the Greenville community and we look forward to their opening in 2014."
About Magnolia Park
Magnolia Park is a $250 million, 800,000-square-foot mixed use, retail and entertainment project located at the intersection of I-85, I-385 and Woodruff Road in Greenville, South Carolina, being developed by Menin Development, Inc. Magnolia Park, formerly the Greenville Mall, was purchased by a Menin affiliate and the former mall was demolished and is in final stages of being re-conceived. Upon its completion by year-end 2014, Magnolia Park will feature an unsurpassed mix of retailers and restaurants, the majority of which will be making their South Carolina or even Southeast U.S. debuts on site.
About Menin Development, Inc.
Menin Development, Inc. has been a privately held owner, developer and manager of commercial real estate since its founding in 1985. Menin has owned and developed in excess of $1 billion of retail and mixed use properties throughout Florida, Virginia, Tennessee, Louisiana and North and South Carolina. Past projects include Downtown at the Gardens, Palm Beach Gardens, Florida, Shoppes of Jupiter, Jupiter, Florida, and Downtown Short Pump, Richmond, Virginia. Menin currently has $400 million of mixed use commercial projects under construction in South Carolina and Florida.
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.
Menin Development, Inc.
SOURCE Nordstrom, Inc.