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[STK] NYSE:JWN NYSE:KW
[IN] REA
[SU]
-- WITH PHOTO -- TO BUSINESS EDITORS:
Nordstrom Rack Grows Store Presence In Utah
SEATTLE, April 22, 2014 /PRNewswire/ -- Seattle-based Nordstrom, Inc.
(NYSE: JWN) announced today plans to open a Nordstrom Rack at
University Crossing in Orem, Utah. The approximately
30,000-square-foot store is scheduled to open in spring 2015.
University Crossing is owned and managed by University Crossing
Shopping Center, LLC, a Delaware limited liability company.
"We're excited about the opportunity to bring a Nordstrom Rack to
University Crossing," said Geevy Thomas, president of Nordstrom Rack.
"We are fortunate to have many loyal customers in the Orem community
who know us well and we look forward to serving them with many of the
same great brands we carry in Nordstrom stores at Nordstrom Rack
prices."
University Center is located at the intersection of University Parkway
and State Street. The new Nordstrom Rack will join a mix of retailers
and restaurants such as Burlington Coat Factory, Pier 1 Imports,
Barnes & Noble and In-N-Out Burger, among others.
"The lease to Nordstrom Rack will transform University Crossing into
the dominant apparel and soft goods retail destination in all of Utah
County," said Steven Usdan, executive vice president of Kornwasser
Shopping Center Properties, LLC and Managing Member of CCA Acquisition
Company, LLC.
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,
as well as 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.
Nordstrom first arrived in Utah in 1980 when it opened a full line
store in downtown Salt Lake City. The first Nordstrom Rack opened at
Sugarhouse in Salt Lake City in 1991 and the company currently has two
other Racks at Station Park in Farmington and Commons at South Towne
in Sandy. The company also operates two full line stores at City Creek
Center in Salt Lake City and Fashion Place in Murray.
About Nordstrom 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 267 stores in 36 states,
including 117 full-line stores, 147 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.
About University Crossing University Crossing Shopping Center is an
approximately 200,000-square-foot outdoor shopping center located at
the southwest corner of State Street (Utah Highway 89) and University
Parkway (the major East West arterial with access to I-15) in Orem,
Utah. The center has over 1,078 feet of frontage along University
Parkway, which has traffic counts of over 52,000 cars daily, and also
has over 600 feet of frontage along State Street, with traffic counts
of over 41,000 cars daily. Anchor tenants include Burlington Coat
Factory, Pier One, Barnes & Noble, Staples and Skechers. University
Crossing is located diagonally across the street from University Mall,
the largest mall in Utah County, containing approximately 1.5 million
square feet and sits between Brigham Young University (with a student
population of approximately 30,000 and the largest employer in Utah
County) and Utah Valley University (the second largest four year
public institution in Utah with approximately 26,000 students).
About Kennedy Wilson and CCA Acquisition Company, LLC University
Crossing Shopping Center, LLC is a joint venture between Kennedy
Wilson (NYSE: KW) and CCA Acquisition Company, LLC, affiliate of
Kornwasser Shopping Center Properties, LLC. Founded in 1977, Kennedy
Wilson is a vertically integrated global real estate investment and
services company headquartered in Beverly Hills, California, with 24
offices in the U.S., U.K., Ireland, Spain, and Japan. Kennedy Wilson,
on its own or with partners, invests opportunistically in a variety of
real estate related investments, including commercial, multi-family,
loan purchases and originations, residential and hotels. Kennedy
Wilson offers a comprehensive array of real estate services including
investment management, property services, auction, conventional sales,
brokerage and research. For further information on Kennedy Wilson,
please visit www.kennedywilson.com.
MEDIA CONTACTS: Naomi Tobis Nordstrom, Inc. (206) 303-4250
Naomi.tobis@Nordstrom.com
Steven Usdan Kornwasser Shopping Center Properties, LLC CCA
Acquisition Company, LLC (323) 965-1510 stevenu@kornwasser.net
Photo - http://photos.prnewswire.com/prnh/20130222/SF64843 Logo -
http://photos.prnewswire.com/prnh/20001011/NORDLOGO
SOURCE Nordstrom, Inc.
-0- 04/22/2014
/Photo: http://photos.prnewswire.com/prnh/20001011/NORDLOGO
http://photos.prnewswire.com/prnh/20130222/SF64843
/Web Site: http://www.nordstrom.com
(NYSE:JWN /
NYSE:KW) /
CO: Nordstrom, Inc.; Kennedy Wilson; CCA Acquisition Company, LLC
ST: Utah Washington
IN: REA
PRN
-- SF09351 --
0000 04/22/2014 18:00:00 EDT http://www.prnewswire.com
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