SEATTLE, April 13, 2023 /PRNewswire/ -- Seattle-based fashion retailer Nordstrom, Inc. (NYSE: JWN) announced plans to open four new Nordstrom Rack stores in 2024 and one in 2025. The new stores will be located in Davis, Elk Grove, Gilroy, Oceanside and San Mateo, California.
"We look forward to opening these new Nordstrom Rack locations in the Davis, Elk Grove, Gilroy, Oceanside and San Mateo communities, strengthening our network of stores and introducing new customers to Nordstrom Rack's unique product offering," said Carl Jenkins, Senior Vice President of Nordstrom Rack Stores. "In addition to shopping great brands at great prices, our customers in California can take full advantage of these convenient new locations to pick-up online orders and make returns."
With the addition of these five new locations, Nordstrom will operate 68 Nordstrom Rack stores, 23 Nordstrom stores, five Nordstrom Locals and one asos | Nordstrom in California.
The 25,000 square-foot store will be located in The Davis Collection, a popular shopping center that includes other retailers such as Trader Joe's. Formerly known as University Mall, The Davis Collection is owned and managed by Brixmor Property Group and is ideally situated near the University of California, Davis at Russell Boulevard and Anderson Road. This store will open in spring 2025.
"Nordstrom Rack is a key addition to the redevelopment of The Davis Collection, adding highly desired off-price retail," said Bill Brown, Executive Vice President of Development/Redevelopment for Brixmor Property Group. "Nordstrom Rack is known for exceptional quality, selection and customer service and appeals to the Davis community we serve."
The 25,000 square-foot store will be located in Gilroy Crossing, a regional shopping center that includes other retailers such as Target, Kohls, Barnes & Noble and Petsmart. Gilroy Crossing is managed by Raider Hill Advisors, LLC and owned by Joule Associates, LLC, a partnership between Raider Hill Advisors, LLC and Farallon Capital Management, L.L.C. This shopping center is ideally located at the intersection of Highway 101 and Highway 152 in Gilroy, CA. This store will open in spring 2024.
"We are excited to announce Nordstrom Rack will be opening at Gilroy Crossing. Nordstrom Rack is a best-in-class retailer which will be a great addition to the shopping center and solidify Gilroy Crossing as the premier shopping destination in the market. With an extraordinary history of excellence in sales and customer service, they will surely be a welcomed addition to Gilroy, CA and the surrounding communities," said Joseph M. Tichar, Co-Founder, President and COO of Raider Hill Advisors, LLC.
The 31,000 square-foot store will be located in Pacific Coast Plaza, a popular shopping center that includes other retailers such as Best Buy, Petco, Dick's Sporting Goods and Staples. Pacific Coast Plaza is owned and managed by Citivest Commercial Investments and is ideally located off of Jefferson St. and Vista Way. This store will open in spring 2024.
"Nordstrom Rack is a highly respected and popular retailer. We are thrilled that Nordstrom Rack will be joining our well-rounded tenant mix at Pacific Coast Plaza and anxiously await the stores opening," said Dana Haynes, President, Citivest Commercial Investments.
San Mateo, Calif.
The 36,000 square-foot store will be located in Bridgepointe Shopping Center, a regional shopping center that includes other retailers such as Target, Ulta and Total Wine. Bridgepointe Shopping Center is ideally located in the Bay Area of California, with excellent regional access via Highway 101 and Highway 92. This store will open in fall 2024.
Earlier this week, Nordstrom announced its plans to open a new Nordstrom Rack store in Elk Grove, CA at The Ridge Elk Grove in spring 2024.
Nordstrom Rack is the off-price retail division of Nordstrom, Inc. and plays a critical role in the company's Closer to You strategy, which focuses on delivering customers a more convenient and interconnected experience across its stores and digital platforms. Nordstrom Rack offers customers up to 70 percent off on-trend apparel, accessories, beauty, home and shoes from many of the top brands sold at Nordstrom stores as well as core services like online order pickup for Nordstrom.com and NordstromRack.com, easy returns and alterations at select stores. Nordstrom Rack is the largest source of new customers to Nordstrom.
Nordstrom is committed to giving back to the diverse communities where it operates. Since 2019 along with its customers, Nordstrom has donated more than $1.5 million in support of its long-term partnership with Big Brothers Big Sisters of the United States. These proceeds support the recruitment, training and engagement of adult mentors' recruitment, training and engagement s, including preparing for an interview, learning to tie a tie and helping with homework.
Brixmor is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers. Its 373 retail centers comprise approximately 66 million square feet of prime retail space in established trade areas. The Company strives to own and operate shopping centers that reflect Brixmor's vision "to be the center of the communities we serve" and are home to a diverse mix of thriving national, regional and local retailers. Brixmor is a proud real estate partner to over 5,000 retailers.
About Inverness Management
We take great pride in providing exceptional property management at all our centers. Our goal is to facilitate a positive and enjoyable experience for tenants, employees, and shoppers.
About Raider Hill Advisors, LLC
Raider Hill is a private real estate investment and advisory firm with a fully integrated operating platform providing asset management, leasing, development, operations, transactions, site selection, ESG and sustainability integration, and market research services.
About Farallon Capital Management, L.L.C.
Farallon Capital Management, L.L.C., is a global investment firm founded in 1986 and registered as an investment advisor with the United States Securities and Exchange Commission since 1990. Farallon seeks investments across asset classes and around the world through a process of bottom-up fundamental research and analysis emphasizing capital preservation.
About Citivest Commercial Investments
Citivest Commercial Investments (CCI) is a full-service real estate investment company focused on value-add retail properties. Since 1987, CCI, based in Southern Californian has successfully repositioned shopping centers for its investors throughout the Western United States. CCI is dedicated to implementing specific strategies for each investment property which may include renovation, expansion, redevelopment, and property management; all with an unwavering commitment to exceed the expectation of its investors, retailers, and customers.
At Nordstrom, Inc. (NYSE: JWN), we exist to help our customers feel good and look their best. Since starting as a shoe store in 1901, how to best serve customers has been at the center of every decision we make. This heritage of service is the foundation we're building on as we provide convenience and true connection for our customers. Our digital-first platform enables us to serve customers when, where and how they want to shop – whether that's in-store at more than 350 Nordstrom, Nordstrom Local and Nordstrom Rack locations or digitally through our Nordstrom and Nordstrom Rack apps and websites. Through it all, we remain committed to leaving the world better than we found it.
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SOURCE Nordstrom, Inc.