Nordstrom to Open at Waterside Shops in Naples, Florida
SEATTLE, July 20, 2005 /PRNewswire-FirstCall via COMTEX/ -- Seattle-based Nordstrom, Inc. (NYSE: JWN), a leading fashion specialty retailer announced it has signed a letter of intent with The Forbes Company of Southfield, Mich., to open a new Nordstrom store at Waterside Shops at Pelican Bay in Naples, Fla. Nordstrom at Waterside Shops will be two levels and approximately 80,000 square feet. The store is tentatively scheduled to open in fall 2007 or spring 2008. Nordstrom at Waterside Shops will be the retailer's first location in Southwest Florida and the ninth full-line store in Florida. The company will be opening a store at the Gardens Mall in Palm Beach Gardens on March 10, 2006, and at Aventura Mall in the Greater Miami/Fort Lauderdale area in fall 2007.
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"We are excited to open a store at such a compelling shopping destination as the Waterside Shops," said Erik Nordstrom, executive vice president of full-line stores for Nordstrom. "This new and smaller store will give us an opportunity to have a more focused approach, providing a merchandise mix unique to our customers in Naples. We have wanted to serve customers in and around Southwest Florida for a long time, and we are looking forward to providing the best possible Nordstrom experience."
"We feel that Nordstrom adds a dimension of retailing that complements our merchandising philosophy and adds a sophisticated level of shopping to the Naples marketplace," said Nathan Forbes, managing partner for the Forbes Company.
Nordstrom offers a unique, quality selection of shoes, clothing and accessories for men, women and children in well-known national brands and lines exclusive to Nordstrom, as well as a firm commitment to an extensive selection of sizes.
Nordstrom has opened six stores in malls throughout Florida in the past five years: Town Center at Boca Raton, Boca Raton, Fla.; International Plaza, Tampa, Fla.; Village of Merrick Park, Coral Gables, Fla.; Florida Mall, Orlando, Fla; Mall at Wellington Green, Wellington, Fla.; and Dadeland Mall, Miami, Fla.
Waterside Shops is centrally located in the heart of Naples with more than 45 distinctive shops and restaurants. A premier shopping destination, Waterside Shops is one of Naples' top tourist attractions. For more information visit www.watersideshops.com.
The Forbes Company is a nationally recognized owner and developer of upscale regional shopping centers that provide exceptional retail experiences in their respective markets. The Forbes Company owns and manages two other luxury retail properties in Florida, The Mall at Millenia in Orlando and The Gardens Mall in Palm Beach Gardens.
The other partners in Waterside Shops include Taubman Centers, Inc., and ING Clarion.
Taubman Centers is a real estate investment trust that owns, develops, acquires and operates regional shopping centers nationally. Taubman Centers currently owns and/or manages 22 urban and suburban regional and super regional shopping centers in 13 states. Taubman Centers is headquartered in Bloomfield Hills, Michigan.
ING Clarion provides real estate investment advisory and management services to institutional investors, primarily U.S. pension funds. Founded in 1982, ING Clarion is a national organization with 600 employees and offices in major markets across the country. Today, ING Clarion manages over $20 billion in real estate assets, both in the private and public sectors.
Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with 152 US stores located in 27 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 95 full-line stores, 49 Nordstrom Racks, five Faconnable boutiques, one freestanding shoe store, and two clearance stores. Nordstrom also operates 32 international Faconnable boutiques, primarily in Europe. Additionally, Nordstrom serves customers through its online presence at http://www.nordstrom.com and through its direct mail catalogs. Nordstrom, Inc. is publicly traded on the NYSE under the symbol JWN.
CONTACT:
Deniz Anders
Nordstrom, Inc.
206-373-3038
Nate Forbes
The Forbes Company
248-827-4600
SOURCE
Nordstrom, Inc.