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Nordstrom Rack Expands Store Presence In New York

SEATTLE, Oct. 15, 2014 /PRNewswire/ -- Seattle-based Nordstrom, Inc. (NYSE: JWN) announced today plans to open a Nordstrom Rack at Colonie Center in Albany, N.Y. The approximately 34,700-square-foot store is scheduled to open in fall 2015. The property is managed by Pacific Retail Capital Partners, LLC, leased by Clifton Realty Management LLC, and owned by KRE Colonie Owner, LLC.

Nordstrom Rack storefront

The new, two-level Rack is part of a portion of the mall that is being redeveloped and will join a great mix of retail and lifestyle brands that will include L.L. Bean, Bose, Barnes & Noble, Sephora, Macy's, Boscov's, Sears and Whole Foods Market. Colonie Center sits at the intersection of Wolf Road and Central Avenue in the heart of the capital region.

"We're fortunate for the many years of support from our customers throughout New York," said Geevy Thomas, president of Nordstrom Rack. "We're excited about the opportunity to bring a Nordstrom Rack closer to home for our customers in Albany and we look forward to offering great brands, at great prices, when we open next fall."

Nordstrom Rack recently opened a new store at Gateway Center in Brooklyn on October 8 and today has nine Rack stores in New York. The company also operates two Nordstrom stores in White Plains at The Westchester and in Garden City at Roosevelt Field. 

"We are very pleased and excited to welcome Nordstrom Rack to Colonie Center and to introduce them to the capital region of New York," said Steve Plenge, president of Pacific Retail Capital Partners, LLC and partner of KRE Colonie Owner, LLC, owner of Colonie Center. "The addition of Nordstrom Rack gives our customer access to one of the premier fashion brands in the country at the ultimate shopping destination in upstate New York."

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.

About Nordstrom
Nordstrom, Inc. is a leading fashion specialty retailer based in the U.S. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 284 stores in 37 states, including 118 full-line stores in the United States and one in Canada; 162 Nordstrom Racks; two Jeffrey boutiques; and one clearance store. Nordstrom also serves customers through Nordstrom.com; Nordstromrack.com; online private sale site HauteLook; and Trunk Club, a personalized clothing service. Nordstrom, Inc.'s common stock is publicly traded on the NYSE under the symbol JWN.

About Colonie Center
Colonie Center is a 1.3 million square-foot enclosed two-level, regional shopping center with over 100 specialty stores that features upscale amenities and provides a dynamic and welcoming shopping experience. The center sits at the intersection of Wolf Road and Central Avenue, is just five minutes from the Albany International Airport and major hotel chains, and is accessible from Interstates 87 and 90. In addition to unique retail such as L.L. Bean, Sephora, Bose, and Barnes & Noble, Colonie Center is the home to fine dining establishments, The Cheesecake Factory and PF Changs, and a 13 screen all digital Regal Cinema. Colonie Center is also home to the only Whole Foods Market in the upstate New York.

About Pacific Retail Capital Partners (PRCP)
PRCP was founded in 2008 and is located in the Los Angeles area. An operating partner in regional mall assets, the company provides vertical integration of all services for the acquisition, management, leasing, and development of regional malls. Currently PRCP is the operating partner of four regional malls; West Oaks Mall  in Houston, Yorktown Center in Lombard, IL (Chicago), Colonie Center in Albany, and Broadway Mall in Hicksville, NY (Long Island).

Nordstrom Incorporated logo

Photo - http://photos.prnewswire.com/prnh/20130222/SF64843
Logo - http://photos.prnewswire.com/prnh/20001011/NORDLOGO  

SOURCE Nordstrom, Inc.

Naomi Tobis, Nordstrom, Inc, (206) 303-4250, naomi.tobis@nordstrom.com, Gary Karl, Pacific Retail Capital Partners, (310) 641-8060, Gkarl@pacificretail.com