Nordstrom to Open at Ridgedale Center in Minneapolis
SEATTLE, Nov. 30 /PRNewswire-FirstCall/ -- Seattle-based Nordstrom, Inc. (NYSE: JWN), a leading fashion specialty retailer, announced it has signed a letter of intent with General Growth Properties, Inc. (NYSE: GGP) to open a new Nordstrom store at Ridgedale Center in Minnetonka, Minn. The new, two-level Nordstrom will be approximately 172,000 square feet and is scheduled to open fall 2011.
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"We've been in the Twin Cities area since 1992 and have been fortunate to have great customer support at our Mall of America store," said Erik Nordstrom, president of stores for Nordstrom. "We have long wanted to expand our presence here and are thrilled about this opportunity at Ridgedale."
"Nordstrom solidifies Ridgedale Center as one of the Midwest's top shopping destinations. We admire Nordstrom's commitment to outstanding merchandise and superior customer service, and this is a great opportunity to continue providing an unparalleled lineup of retail for the Twin Cities shopper. This is an extension of our vision of 'People creating special places and experiences,'" said Bob Michaels, president and chief operating officer of General Growth Properties, Inc.
Ridgedale Center is the strongest regional shopping center on the west side of Minneapolis-St. Paul. The two-level, super regional center is home to more than 120 top specialty retailers and now, with Nordstrom, four department stores. For more on Ridgedale Center, please visit http://www.ridgedalecenter.com.
The Nordstrom at Ridgedale Center will be the retailer's second store in Minnesota. Nordstrom at Mall of America opened in 1992, and Nordstrom also operates a Rack at Mall of America.
General Growth Properties, Inc. is one of the largest U.S.-based publicly traded real estate investment trusts (REIT) based on market capitalization. General Growth has ownership interests in or management responsibility for a portfolio of approximately 200 regional shopping centers in 45 states, as well as ownership and management interest in master-planned community developments in the U.S. and shopping centers in Brazil and Turkey. The Company's portfolio totals approximately 200 million square feet and includes more than 24,000 retail stores. General Growth Properties, Inc. is listed on the New York Stock Exchange under the symbol GGP. For more information on GGP, please visit http://www.ggp.com.
Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with 157 stores located in 28 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 101 full-line stores, 51 Nordstrom Racks, two Jeffrey boutiques, one freestanding shoe store and two clearance stores. Nordstrom also serves customers through its online presence at http://www.nordstrom.com and through its catalogs. Nordstrom, Inc. is publicly traded on the NYSE under the symbol JWN.
MEDIA CONTACTS: Michael Boyd
Nordstrom, Inc.
(206) 373-3038
David Keating
General Growth Properties
(312) 960-5000
SOURCE Nordstrom, Inc.
11/30/2007
CONTACT: Michael Boyd of Nordstrom, Inc., +1-206-373-3038; or David
Keating of General Growth Properties, +1-312-960-5000
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Web site: http://www.nordstrom.com
http://www.ggp.com