SEATTLE, Dec. 3, 2013 /PRNewswire/ -- Seattle-based Nordstrom, Inc. (NYSE: JWN) announced today plans to further expand its Los Angeles-area presence with the addition of a Nordstrom Rack at Janss Marketplace in Thousand Oaks, Calif. The approximately 40,000-square-foot store is scheduled to open in fall 2015. The Rack location at Janss Marketplace is a development by Seritage Realty Trust, a division of Sears Holdings Corporation.
Nordstrom has operated a full-line store approximately one mile from the new Rack location at The Oaks since 2008.
"Our new Rack store at Janss Marketplace will be right down the street from our full-line store at The Oaks and can offer an additional way to shop for the brands our customers love at great prices," said Geevy Thomas, president of Nordstrom Rack. "We are fortunate to have many customers who have been loyal to us at our Oxnard and Topanga Rack stores and hope this new location can provide a closer option for those in the Thousand Oaks community."
The new, two-story Nordstrom Rack will occupy a portion of the existing Sears location at Janss Marketplace with entrances accessible to parking on level one and to the shopping center on level two. Sears will continue to occupy an anchor position on the primary floor of the existing store.
"We are very proud to welcome Nordstrom Rack as an important co-anchor in our redevelopment of Janss Marketplace along with a fully redesigned Sears store and other high-quality retailers," said David Lukes, chief executive officer of Seritage Realty Trust. "This property represents a dominant market position and will continue to serve members and customers in the years ahead."
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 to 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 Janss Marketplace
Janss Marketplace is conveniently located on the corner of Moorpark Road and Hillcrest Drive in the City of Thousand Oaks, California. This 450,000-square-foot regional shopping center offers its customers an exciting mix of retail, dining and entertainment in a relaxed open air environment that the entire family can enjoy. This one stop destination is anchored by Marshalls, Old Navy, Burlington Coat, Toys"R"Us, Regency Theatres, Gold's Gym, as well as variety of restaurants and specialty shops.
About Seritage Realty Trust
Seritage Realty Trust, LLC is a nationwide developer of commercial real estate. Leveraging a portfolio that contains more than 200 properties in 33 states, the company offers quality retailers and other commercial users' unique access to mature suburban and urban markets within tailored redevelopment projects of exceptional design and operational standards.
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 261 stores in 35 states, including 117 full-line stores, 141 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.
Sears Holdings Corp. (for Seritage)
SOURCE Nordstrom, Inc.