25 Jul, 2016, 11:00 ET
SEATTLE, July 25, 2016 /PRNewswire/ -- Seattle-based Nordstrom, Inc. (NYSE: JWN) announced today plans to open a Nordstrom Rack at The Centre at Preston Ridge in Frisco, Texas. The approximately 33,000-square-foot store is scheduled to open in fall 2017. The property is owned by Brixmor Property Group.
Nordstrom Rack will join Saks OFF 5TH, T.J. Maxx, Target, DSW, Ross, Ulta, Old Navy, Best Buy and many more shops and restaurants. The Centre at Preston Ridge is located at the corner of Gaylord Parkway and Preston Road, just northwest of where the Dallas North Tollway and Sam Rayburn Tollway meet.
"We've been fortunate to serve customers in Frisco with our full-line store at Stonebriar Center for more than 15 years, and we've heard from them how convenient it would be to also have a Rack location close by," said Geevy Thomas, president of Nordstrom Rack. "We're excited to get our doors open here and hope to offer our customers less time in the car and more time to shop the great brands they love at great prices."
This will be the sixth Nordstrom Rack in the Dallas area. The company also operates four Nordstrom stores: Stonebriar Centre, NorthPark Center, Galleria Dallas, and North East Mall.
"Off-price retail is a rapidly growing segment that is highly desired by our consumers," said Brian Finnegan, executive vice president of leasing for Brixmor Property Group. "Our redevelopment of Preston Ridge, driven by the addition of best-in-class retailers such as Nordstrom Rack, Saks OFF 5TH and J. Crew Mercantile, allows us to further strengthen the center's appeal and to better serve the Frisco community."
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 to 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.
Nordstrom, Inc. is a leading fashion specialty retailer based in the U.S. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 329 stores in 39 states, including 121 full-line stores in the United States, Canada and Puerto Rico; 200 Nordstrom Rack stores; two Jeffrey boutiques; and one clearance store. Additionally, customers are served online through Nordstrom.com, Nordstromrack.com and HauteLook. The company also owns Trunk Club, a personalized clothing service serving customers online at TrunkClub.com and its five clubhouses. Nordstrom, Inc.'s common stock is publicly traded on the NYSE under the symbol JWN.
About The Centre at Preston Ridge
Preston Ridge is a 780,000-square-foot power center anchored by top national retailers, including T.J. Maxx, Marshalls, Ross Dress for Less, Ulta Beauty and Old Navy. Plus, this market-dominant center boasts a strong lineup of popular restaurants, including Texas L & C Co. Steak House, Romano's Macaroni Grill and Corner Bakery.
About Brixmor Property Group
Brixmor owns and operates the nation's largest wholly owned portfolio of grocery-anchored community and neighborhood shopping centers, with 518 properties aggregating approximately 87 million square feet of gross leasable area located primarily across the top 50 U.S. metro markets. Brixmor leverages its national footprint, local market knowledge and operational expertise to support the growth of its retail tenants. The Company is focused on maximizing the value of its portfolio through strategic leasing and anchor space repositioning / redevelopment initiatives. Headquartered in New York City, the Company is the largest landlord to The TJX Companies and The Kroger Company.
Brixmor Property Group
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SOURCE Nordstrom, Inc.
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