Nordstrom to Relocate at Stoneridge Shopping Center In Pleasanton, California
SEATTLE, Aug. 24 /PRNewswire-FirstCall/ -- Seattle-based Nordstrom, Inc. (NYSE: JWN), a leading fashion specialty retailer announced it has signed a letter of intent with The Mills Corporation of Arlington, Va., to relocate and build a new store at Stoneridge Shopping Center in Pleasanton, Calif. The new Nordstrom will be two levels and approximately 149,000 square feet. The store is tentatively scheduled to open in fall 2007. Nordstrom will remain open in its current location until the new store is completed.
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"We were planning a major remodel, but when we were given the opportunity to build a brand new store with our latest in design concepts, we felt that this was the best option," said Erik Nordstrom, executive vice president of Full-Line Stores for Nordstrom. "The Pleasanton community has been very supportive of us over the last 15 years and we look forward to serving our customers here for many years to come."
"We are pleased to partner with Nordstrom to enhance the shopping experience at Stoneridge Shopping Center," said Laurence C. Siegel, chairman and chief executive officer, The Mills Corporation. "We are confident that the relocation of Nordstrom and arrival of additional high-end specialty retailers will increase the appeal of Stoneridge Shopping Center and contribute to the unique shopping experience it provides."
Nordstrom has 28 Full-Line Stores and 17 Nordstrom Rack stores in California. Nordstrom Stoneridge, which originally opened in March of 1990, was the 22nd Full-Line Store opened in California. The company will open a store at the Irvine Spectrum Center in Irvine on September 30, and at The Oaks Shopping Center in Thousand Oaks in fall 2008. Nordstrom will also relocate its store at Westfield Shoppingtown Topanga in Canoga Park in October 2006.
The new Nordstrom store will be located adjacent to its current store and is part of the center's overall expansion plans. As part of the plans, the current Nordstrom space will be converted to 89,000 square feet of high-end specialty stores and a planned 75,000 square-foot cinema. New restaurants and an additional anchor store totaling 56,000 square feet are also planned for the center that is jointly owned by managing partner The Mills Corporation and General Motors Pension Trust.
Stoneridge Shopping Center in Pleasanton California, a 1.3 million square-foot super-regional retail destination, features over 165 specialty stores and services. Jointly owned by general managing partner The Mills Corporation and General Motors Pension Trust, Stoneridge Shopping Center is strategically located at the intersection of I-680 and I-580, the region's primary north-south and east-west interstates. The mall is located 30 miles east of San Francisco in the East Bay suburb of Pleasanton, the heart of the Tri-Valley region. For more information visit www.shopstoneridge.com.
The Mills Corporation, based in Arlington, Virginia, is a developer, owner and manager of a diversified global portfolio of retail destinations including regional shopping malls, market dominant retail and entertainment centers, and international retail and leisure centers. It currently owns 42 properties in the U.S., Canada and Europe, totaling 51 million square feet. In addition, The Mills has various projects in development, redevelopment or under construction around the world. Its portfolio of real estate properties generated more than $8.7 billion in retail sales in 2004. The Mills is traded on the New York Stock Exchange under the ticker: MLS. For more information, visit the company's website at www.themills.com.
Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with 152 US stores located in 27 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 95 Full-Line Stores, 49 Nordstrom Racks, five Faconnable boutiques, one freestanding shoe store and two clearance stores. Nordstrom also operates 32 international Faconnable boutiques, primarily in Europe. Additionally, Nordstrom serves customers through its online presence at http://www.nordstrom.com and through its catalogs. Nordstrom, Inc. is publicly traded on the NYSE under the symbol JWN.
CONTACT: Deniz Anders of Nordstrom, Inc., +1-206-373-3038, or David Douglass of The Mills Corporation, +1-703-526-5252
Deniz Anders of Nordstrom, Inc., 1-206-373-3038,
David Douglass of The Mills Corporation, 1-703-526-5252
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Web site: http://www.nordstrom.com