SEATTLE, Jan. 14, 2015 /PRNewswire/ -- Seattle-based Nordstrom, Inc. (NYSE: JWN) announced today plans to open a Nordstrom Rack at Chapel Hills East in Colorado Springs, Colo. The 31,203-square-foot store is scheduled to open in spring 2016. The property is owned and managed by DDR Corp. (NYSE: DDR).
When the new store opens, it will be the sixth Rack in Colorado. The company recently announced a new Rack location opening in Fort Collins in fall 2015. Nordstrom also operates three full line stores and first came to Colorado in 1996 with a store at Park Meadows.
"We've been focused on finding the best locations across Colorado, and this new Rack will allow us to take care of more customers living in Colorado Springs," said Geevy Thomas, president of Nordstrom Rack. "Chapel Hills East is a great fit for us, and we look forward to serving customers when we open."
Chapel Hill East is located in north central Colorado Springs off of Academy Blvd. Nordstrom Rack will join other tenants such as Whole Foods, DSW, Best Buy, Old Navy and Carter's.
"We are extremely pleased to add Nordstrom Rack to Chapel Hills East," said Paul Freddo, senior executive vice president of leasing and development for DDR. "This best-in-class retailer brings a synergy to our shopping centers that not only enhances the merchandise mix, but expands the regional draw and traffic levels. Chapel Hills East represents our 14th location with Nordstrom Rack, and we look forward to our continued partnership."
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 292 stores in 38 states, including 116 full-line stores in the United States and one in Canada; 167 Nordstrom Racks; two Jeffrey boutiques; and one clearance store. Nordstrom also serves customers online through Nordstrom.com, Nordstromrack.com and private sale site HauteLook. The company also owns Trunk Club, a personalized clothing service that takes care of customers online at TrunkClub.com and its five showrooms. Nordstrom, Inc.'s common stock is publicly traded on the NYSE under the symbol JWN.
About Chapel Hills East
Acquired by DDR in 2011, Chapel Hills East is a 220,000-square-foot shopping center located in north central Colorado Springs, and is anchored by Whole Foods, DSW, Best Buy, Old Navy and Carter's. To accommodate the addition of Nordstrom Rack, DDR is relocating an in-line junior anchor to an adjacent space located at the North portion of the center, and recapturing 7,000 square feet from DSW. The center serves a trade area population of 300,000 people and benefits from strong traffic from its location adjacent to Chapel Hills Mall and the United States Air Force Academy.
About DDR Corp
DDR (NYSE: DDR) is an owner and manager of 415 value-oriented shopping centers representing 118 million square feet in 41 states and Puerto Rico. The Company's assets are concentrated in high barrier-to-entry markets with stable populations and high growth potential and its portfolio is actively managed to create long-term shareholder value. DDR is a self-administered and self-managed REIT operating as a fully integrated real estate company. Additional information about the Company is available at www.ddr.com, as well as on Twitter, LinkedIn and Facebook.
MEDIA CONTACTS:
Naomi Tobis
Nordstrom, Inc.
(206) 303-4250
naomi.tobis@nordstrom.com
Matt Schuler
DDR Corp.
(216) 755-5842
MSchuler@ddr.com
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SOURCE Nordstrom, Inc.
