Nordstrom Rack To Open In Portland, Maine
SEATTLE, Jan. 2, 2013 /PRNewswire/ -- Seattle-based Nordstrom, Inc. (NYSE: JWN) announced today plans to open a Nordstrom Rack in South Portland, ME. The approximately 30,000-square-foot store is scheduled to open this spring at Maine Crossing Shopping Center and will be the retailer's first location in the state.
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.
"We're excited to have the opportunity to open a Nordstrom Rack in South Portland," said Geevy Thomas, president of Nordstrom Rack. "We've been looking for ways to better serve our customers living in Maine who have been making the drive to visit our Rack stores in Boston and look forward to taking care of them when we open this spring at Maine Crossing."
Maine Crossing is a 274,000-square-foot open-air shopping center with excellent accessibility off Interstate 95 and close proximity to Interstate 295. The new Nordstrom Rack will join a strong mix of tenants at Maine Crossing including Target, Bed Bath & Beyond, A.C. Moore and Men's Wearhouse. The new store will occupy the former Old Navy space.
Issie Shait, Senior Vice President Property Management of New England Development, said, "We are extremely pleased to bring the first Nordstrom Rack to Maine and the Portland area. It is a great addition to the merchant mix at Maine Crossing and our customers will love the shopping experience."
About New England Development
New England Development is one of the nation's premier real estate development and management companies, with more than 50 million square feet of retail, commercial and residential space to its credit. Founded by Chairman and Chief Executive Officer Stephen R. Karp in 1978, New England Development is acclaimed for creating imaginative, high-quality real estate developments, demonstrating time and time again its expertise in turning the most challenging situations into the most successful projects. These developments include mixed-use complexes featuring retail, residential, hotel and office uses; lifestyle retail centers; power centers; outlet centers; marinas; golf courses; resort and convention hotel properties; and even an entire planned community.
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.
New England Development
SOURCE Nordstrom, Inc.