Nordstrom Rack to Open First Houston Store at The Centre at Post Oak
SEATTLE, May 27, 2009 /PRNewswire-FirstCall via COMTEX/ -- Seattle-based Nordstrom, Inc. (NYSE: JWN), a leading fashion specialty retailer, announced it will open a 30,000-square-foot Nordstrom Rack, a unit of the company's off-price retail division, in Houston at The Centre at Post Oak, a shopping center owned by Weingarten Realty. Scheduled to open in spring 2010, this will be the retailer's first Nordstrom Rack in Houston.
"We've wanted to bring our Houston customers a Nordstrom Rack for some time and we're thrilled about this opportunity," said Scott Meden, president of Nordstrom Rack. "With an outstanding location and a great retail and restaurant mix, The Centre at Post Oak is a perfect fit for our first Houston Rack store."
Located across the street from The Houston Galleria, which has a Nordstrom store, The Centre at Post Oak is one of the city's most popular shopping destinations. Current tenants include Marshall's, Barnes & Noble, Old Navy, Grand Lux Cafe and Morton's Steakhouse. Vonn B. Tran of Weingarten handles leasing for the center, and Jan Odom served as associate counsel for Weingarten on the lease.
"We're excited Nordstrom Rack is coming to Houston, and selected The Centre at Post Oak for their new store," said Vonn B. Tran, leasing executive for Weingarten Realty. "This center is the major shopping hub for many of Houston's most popular stores, and Nordstrom Rack is a great addition to this exclusive mix of retailers. We expect Nordstrom Rack's move into the Houston market will attract even more shoppers into this busy shopping center."
Nordstrom Rack at The Centre at Post Oak will be the retailer's sixth Rack in the state, including two new stores scheduled to open in fall 2009. Nordstrom Rack will open at the Shops of Southlake in Southlake, Texas, on Aug. 21, 2009 and at Gateway Center in Austin, Texas on Oct. 22, 2009. Nordstrom currently operates three Racks and seven Nordstrom stores in Texas.
Incorporated in 1948, Weingarten Realty Investors (NYSE: WRI) is one of the largest and oldest real estate investment trusts listed on the New York Stock Exchange. As a commercial real estate owner, manager and developer for more than 60 years, Weingarten remains focused on delivering solid returns to shareholders as the company actively develops, acquires, and intensively manages properties in 23 states that span the United States from coast-to-coast. The Company's portfolio of 404 properties includes 323 neighborhood and community shopping centers, 81 industrial properties and three other properties. Including tenant-owned square footage, the Company's portfolio currently totals more than 73 million square feet under management. Weingarten has one of the most diversified tenant bases of any major REIT in its sector, with the largest of its 5,300 tenants comprising less than 3 percent of its rental revenues. To learn more about the Company's operations and growth strategies, please visit http://www.weingarten.com.
Nordstrom Rack is the company's off-price retail division offering savings of 30 to 70 percent on apparel and accessories for women, men and children, including one of the most extensive collections of name-brand shoes available. Nordstrom Rack merchandise is made up of products from Nordstrom full-line stores and the company's online store at Nordstrom.com, as well as special purchase items.
Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with 176 stores located in 28 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 111 full-line stores, 61 Nordstrom Racks, two Jeffrey boutiques and two clearance stores. Nordstrom also serves customers through its online presence at www.nordstrom.com and through its catalogs. Nordstrom, Inc. is publicly traded on the NYSE under the symbol JWN.
MEDIA CONTACTS:
Brooke White
Nordstrom, Inc.
(206) 373-3030
Jennifer Massey
Weingarten Realty
(713) 866-6921
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SOURCE Nordstrom, Inc.
http://www.nordstrom.com