Nordstrom Rack To Open In Westwood At University Station
SEATTLE, Sept. 17, 2013 /PRNewswire/ -- Seattle-based Nordstrom, Inc. (NYSE: JWN) announced today plans to open a Nordstrom Rack at University Station in Westwood, Mass. The approximately 35,000-square-foot store is scheduled to open in spring 2015. University Station is being developed by New England Development, Eastern Real Estate, and National Development.
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% 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.
"We're thrilled by the customer response as we've continued to open Nordstrom Rack stores in Greater Boston," said Geevy Thomas, president of Nordstrom Rack. "University Station is a great new development in an excellent location and we're eager to bring the Rack to more customers."
The new-build Nordstrom Rack will open alongside a strong mix of retailers and restaurants at University Station including Target and Wegmans. Located southwest of Boston in Westwood along the Route 128 and I-95 corridors, University Station is a 2 million-square-foot mixed use development, featuring 750,000 square feet of stores and restaurants.
"We're delighted that Nordstrom Rack will be opening at University Station," said Douglass E. Karp, Executive Vice President of New England Development. "Their fashion-forward approach to merchandising and their great values on clothing, shoes and accessories will provide local and regional residents with a welcome new shopping opportunity."
Nordstrom first opened in Greater Boston in 2007 with its full-line store at Natick Mall. Since then the company has opened three additional full-line stores and four Nordstrom Rack stores in the area. The company recently opened a Central Massachusetts Rack at The Shoppes at Blackstone Valley in Millbury on September 12.
About University Station
University Station is a vibrant new destination in Westwood, Massachusetts that will feature 2 million square feet of retail, office, residential and hotel uses. Ideally located in Greater Boston along the Route 128 and I-95 corridors and adjacent to the Route 128 Amtrak and MBTA Station, the 130 acre site is being developed by New England Development, Eastern Real Estate and National Development, three of the region's largest real estate developers. Breaking ground in 2013, University Station will feature approximately 750,000 square feet of retail and restaurant uses, including national retailers Wegmans, Target, and Nordstrom Rack. The site's great access, excellent visibility, and strong demographics make University Station an ideal location for retailers and an easy-to-reach regional destination for shopping and dining.
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 their credit. Founded by Chairman and Chief Executive Officer Stephen R. Karp, New England Development has 35 years of retail development, leasing and management experience and is one of the major mall developers in the Northeast. Acclaimed for some of the country's most widely recognized and successful regional malls, New England Development is also known for developing mixed-use complexes featuring retail, residential, hotel and office uses; outlet centers; power centers; marinas; golf courses; resort and convention hotel properties; and even an entire planned community.
About Eastern Real Estate
Eastern Real Estate is a privately held commercial real estate firm with expertise in capital investment, real estate development, and asset management. The Company was founded and is led by principals Daniel J. Doherty III and Brian J. Kelly. During their thirty year careers Doherty and Kelly have had direct involvement in over 30 million square feet of transactions, building Eastern a well-earned reputation for industry leading insight and unwavering professional integrity.
About National Development
National Development is ranked as the region's most active real estate development firm over the last decade. Founded in 1983, the Newton MA-based company provides fully integrated development, construction, acquisition and asset management services. With over 20 million square feet in completed projects, National Development's extensive operating platform encompasses office, retail, industrial, medical/lab, multi-family, senior housing and hotels.
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 252 stores in 34 states, including 117 full-line stores, 132 Nordstrom Racks, two Jeffrey boutiques 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.
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