SEATTLE, April 7, 2015 /PRNewswire/ -- Seattle-based Nordstrom, Inc. (NYSE: JWN) today announced plans to open a Nordstrom Rack at West Oaks shopping center in Novi, Mich. The approximately 33,000-square-foot store is scheduled to open in fall 2016. The property is owned and managed by Ramco-Gershenson Properties Trust.
When it opens, it will be the fifth Nordstrom Rack in Michigan and will join retailers including Gander Mountain, Best Buy, Michael's, HomeGoods and DSW. West Oaks is located across Novi Road from Twelve Oaks Mall where Nordstrom has operated a full-line store since 2007.
"Many of our most successful Rack stores are located across the street from a Nordstrom store. We have found that both stores really complement each other," said Geevy Thomas, president of Nordstrom Rack. "We're looking forward to being able to serve customers more conveniently with two ways to shop with Nordstrom when we open in Novi next year."
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.
"We are very happy to welcome Nordstrom Rack to our West Oaks shopping center," said Dennis Gershenson, president and chief executive officer. "This exciting, best-in-class retailer is certain to expand our shopping center's appeal and dominance in its trade area."
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 299 stores in 38 states and Canada. Customers are served at 116 Nordstrom stores in the U.S. and two in Canada; 173 Nordstrom Rack stores; two Jeffrey boutiques; and one clearance store. Additionally, customers are served online through Nordstrom.com, Nordstromrack.com and HauteLook. The company also owns Trunk Club, a personalized clothing service serving customers online at TrunkClub.com and its five clubhouses. Nordstrom, Inc.'s common stock is publicly traded on the NYSE under the symbol JWN.
About West Oaks:
West Oaks is located directly across Novi Rd. from the Mall and just south of the convergence of Interstates I-696, I-96, and I-275. The shopping center is part of superior trade area with a population base of 153,000 within five miles of the shopping center.
About Ramco-Gershenson Properties Trust
Ramco-Gershenson Properties Trust (NYSE:RPT) is a fully integrated, self-administered, publicly-traded real estate investment trust (REIT) based in Farmington Hills, Michigan. The Company's business is the ownership and management of large, multi-anchor shopping centers primarily in a dozen of the largest metropolitan markets in the United States. At December 31, 2014, the Company owned interests in and managed a portfolio of 80 shopping centers and one office building with approximately 16.9 million square feet of gross leasable area. At December 31, 2014, the Company's core operating portfolio was 95.5% leased. Additional information regarding the Company is available on its corporate website: www.rgpt.com.
MEDIA CONTACTS:
Naomi Tobis
Nordstrom, Inc.
(206) 303-4250
naomi.tobis@nordstrom.com
Dawn Hendershot
Ramco-Gershenson Properties Trust
(248) 592-6202
dhendershot@rgpt.com
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SOURCE Nordstrom, Inc.
