Nordstrom announces plans to open Nordstrom Rack store in Tempe, Arizona, in fall 2014; location will be sixth Nordstrom Rack store in state
December 20, 2013
– Seattle-based Nordstrom, Inc. (NYSE: JWN) announced today plans to open a Nordstrom Rack at Tempe Marketplace in Tempe, Ariz. The approximately 35,000-square-foot store is scheduled to open in fall 2014. The property is owned and managed by Vestar.
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 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.
The new Nordstrom Rack will be the sixth Rack store in Arizona. The company operates two full-line Nordstrom stores at Scottsdale Fashion Square and Chandler Fashion Center.
"Tempe Marketplace is a great spot for our fifth Nordstrom Rack in the Valley of the Sun," said Geevy Thomas, president of Nordstrom Rack. "This new location can provide a closer-to-home option for customers in Tempe and we look forward to opening our doors next fall."
The new Nordstrom Rack will open alongside a strong mix of retailers including Target, DSW, Old Navy and Steinmart. Located on Loop 101 & 102, Tempe Marketplace includes 1.3 million square feet of stores and restaurants.
"We are very excited to welcome Nordstrom Rack to Tempe Marketplace," said David Malin, Director of Acquisitions and Development. "They are the perfect complement to the fashion component of our project and to our broad selection of shopping, dining and entertainment venues. We look forward to their fall opening in 2014."
About Tempe Marketplace
With 1.3 million square feet of retail space, featuring dramatic light and laser elements, outdoor fireplaces and unique water features, Tempe Marketplace delivers an interactive shopping, dining and entertainment experience in a vibrant, high-energy outdoor setting. Conveniently located in Tempe, Arizona on Loop 101 & 202, the retail destination is just minutes from the surrounding communities of Phoenix, Scottsdale, Mesa, Chandler and Gilbert. For more information, visit www.TempeMarketplace.com.
One of the leading privately held real estate companies in the western United States, Vestar specializes in the acquisition, management, and development of commercial real estate, including entertainment-retail complexes, power and lifestyle centers, and neighborhood centers of varying size and scale that serve as community shopping destinations with a unique sense of place. For more information, please visit www.vestar.com.
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.