SEATTLE, April 4, 2013 /PRNewswire/ -- Seattle-based Nordstrom, Inc. (JWN) announced today plans to open a Nordstrom Rack at Belle Isle Station in Oklahoma City, Okla. The approximately 34,000-square-foot store is scheduled to open in fall 2013 and will be the retailer's first location in the state.
Nordstrom Rack is the off-price retail division of Nordstrom, Inc., carrying on-trend merchandise from Nordstrom stores and Nordstrom.com at 50 to 60 percent off original Nordstrom prices. Nordstrom Rack also offers a wide selection of apparel, accessories and shoes from many of the brands carried in Nordstrom stores. These items are purchased specially for Nordstrom Rack, with most at savings of 30 to 70 percent off.
"We're excited to have the opportunity to bring a Nordstrom Rack to Oklahoma City with our new location at Belle Isle Station," said Geevy Thomas, president of Nordstrom Rack. "We want to be a part of compelling locations across the country and are looking forward to getting our doors open."
The new Nordstrom Rack will join a strong mix of tenants at Belle Isle Station including Wal-Mart, Ross, and Old Navy, among others and is conveniently located just east of Penn Square Mall. The new store will occupy the former Linens N Things space.
"We are extremely pleased that Nordstrom Rack chose Belle Isle Station as their first location in the state of Oklahoma," said Steve Warsaw, SVP, Retail of Heitman, which manages Belle Isle Station on behalf of an institutional client. "The addition of Nordstrom Rack adds another attractive draw to the exciting lineup of retailers already located at the center."
Heitman, founded in 1966 and headquartered in Chicago, is a real estate investment management firm with approximately $26 billion in assets invested directly and indirectly in real estate in North America, Europe and Asia-Pacific. The firm's clients include institutions, pension plans, endowments and foundations, and individual investors.
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 242 stores in 31 states, including 117 full-line stores, 121 Nordstrom Racks, two Jeffrey boutiques, one treasure&bond store and one clearance store. Nordstrom also serves customers through Nordstrom.com and through its catalogs. Additionally, the Company operates in the online private sale marketplace through its subsidiary HauteLook. Nordstrom, Inc.'s common stock is publicly traded on the NYSE under the symbol JWN.
Rubenstein (on behalf of Heitman)