SEATTLE, Oct. 18, 2016 /PRNewswire/ -- Seattle-based Nordstrom, Inc. (NYSE: JWN) announced today plans to open a Nordstrom Rack at Portofino Shopping Center in Shenandoah, Texas. The approximately 27,000-square-foot store is scheduled to open in spring 2018. The property is owned by Kite Realty Group.
Nordstrom Rack at Portofino Shopping Center will be located conveniently just off Interstate 45, north of The Woodlands and about 30 miles north of downtown Houston. The new store will join Sam's Club, DSW, TJ Maxx, PGA Superstore, Michael's, Old Navy, Men's Wearhouse, several restaurants, and more.
"We've enjoyed getting to know this community since opening our full-line store at The Woodlands in 2014," said Geevy Thomas, president of Nordstrom Rack. "Our customers here have let us know they'd love a more convenient way to shop Nordstrom Rack - rather than fighting traffic to our other nearby locations - so we're very excited to bring them great brands at great Rack prices closer to home."
This will be the sixth Rack location in the Houston area, the most recent of which opened at Willowbrook Mall in September of 2014. The company also operates a full line location at the Woodlands Mall, which opened in 2014.
"We are excited to welcome Nordstrom Rack to our Portofino Shopping Center," said John Kite, CEO of Kite Realty Group Trust. "The addition of Nordstrom Rack is part of our broader redevelopment project which includes significantly enhancing tenant mix and reconstructing the existing layout to optimize space and improve customer experience. Nordstrom Rack joins a strong lineup of national retailers and shops and adds to the high-quality merchandising mix at our 385,000-square-foot power center. We look forward to further strengthening our relationship with Nordstrom, Inc. in the future."
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 341 stores in 40 states, including 122 full-line stores in the United States, Canada and Puerto Rico; 210 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 six clubhouses. Nordstrom, Inc.'s common stock is publicly traded on the NYSE under the symbol JWN.
About Portofino Center
Portofino Shopping Center is adjacent to the suburban community of Shenandoah / The Woodlands, located 30 miles north of downtown Houston, Texas. The Woodlands is listed as one of the Top 50 Best Selling Master Planned Communities in the nation. Over the last three decades, the 28,000-acre community has also become a thriving center for business, commerce and tourism. The center features ornate Venetian-influenced architecture, contributing to Portofino's unique appeal. The center is located in a growing affluent area of suburban Houston with an average household income of $115K per year.
About Kite Realty Group
Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust engaged in the ownership, operation, management, leasing, acquisition, construction, redevelopment and development of neighborhood and community shopping centers in selected markets in the United States. As of June 30, 2016, the Company owned interests in a portfolio of 121 operating, development and redevelopment properties totaling approximately 24 million total square feet across 20 states.
Kite Realty Group
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SOURCE Nordstrom, Inc.