Nordstrom to Open Rack Store at Park Lane in Dallas
SEATTLE, May 16 /PRNewswire-FirstCall/ -- Seattle-based Nordstrom, Inc. (NYSE: JWN), a leading fashion specialty retailer, announced today that it will open a 35,000-square-foot Rack store at Park Lane in Dallas in fall 2008. A highly anticipated development, Park Lane will be a mixed-use project with more than 2.9 million square feet of retail, hotel, residential and office space.
(Logo: http://www.newscom.com/cgi-bin/prnh/20001011/NORDLOGO)
The Nordstrom Rack is the company's off-price retail division that offers savings of 30 to 75 percent on apparel, accessories and gifts for men, women and children, including one of the most extensive collections of name-brand shoes available. Rack merchandise is made up of products from Nordstrom full- line stores and the company's online store at Nordstrom.com, as well as special purchase items.
The Park Lane Rack will be the retailer's third Rack store in Texas. Nordstrom also operates Rack stores at The Shops at Northeast Mall in Hurst and Preston Sheppard Place in Plano.
"We're thrilled at the opportunity to open an additional Rack store in Dallas," said Scott Meden, president of Nordstrom Rack. "The Nordstrom Rack at Park Lane is centrally located, hopefully making it a convenient shopping location for our customers."
"We are pleased to add Nordstrom Rack to our tenant mix," said Eliot Barnett, managing partner of Harvest Partners, the project developer. "With Park Lane's combination of unique shops and favorite consumer brands, we are confident that Nordstrom Rack will be a shopping destination enhancing the customer experience."
In addition to its Rack stores, Nordstrom also operates seven full-line stores in Texas at Barton Creek Square in Austin, Galleria Dallas, NorthPark Center in Dallas, Stonebriar Mall in Frisco, The Galleria in Houston, North East Mall in Hurst and The Shops at La Cantera in San Antonio.
Park Lane is a 33-acre property in Dallas that sits across from NorthPark Center in one of the country's most dynamic shopping districts. In the equivalent of five city blocks and valued at $650 million, the project will offer more than 750,000 square feet of retail, restaurant and entertainment facilities, in addition to a 229-key, four-diamond luxury Valencia Hotel, a 78,000-square-foot SportsClub/LA, more than 650 apartments and 340,000 square feet of office space. Park Lane is easily accessible from major highways and thoroughfares and is connected to the city's light rail network at the Park Lane DART station. More information on the development is available at www.parklanedallas.com.
Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with 155 U.S. stores located in 27 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 98 full-line stores, 50 Nordstrom Racks, four Faconnable boutiques, one freestanding shoe store and two clearance stores. Nordstrom also operates 36 Faconnable boutiques in Europe. Additionally, Nordstrom serves customers through its online store at www.nordstrom.com and through its catalogs. Nordstrom, Inc. is publicly traded on the NYSE under the symbol JWN.
MEDIA CONTACTS: Michael Boyd of Nordstrom, Inc.
206-373-3038
michael.boyd@nordstrom.com
Stephanie Hoefken
Harvest Partners
214-891-7693
stephanie_hoefken@richards.com
SOURCE Nordstrom, Inc.
05/16/2007
CONTACT: Michael Boyd of Nordstrom, Inc., +1-206-373-3038, or
michael.boyd@nordstrom.com; or Stephanie Hoefken of Harvest Partners,
+1-214-891-7693, or stephanie_hoefken@richards.com, for Nordstrom, Inc.
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Web site: http://www.nordstrom.com