Nordstrom to open Nordstrom Rack at Poplar Commons in Memphis, Tenn

SEATTLE, 2016-Mar-03 — /EPR Retail News/ — Seattle-based Nordstrom, Inc. (NYSE: JWN) announced today plans to open a Nordstrom Rack at Poplar Commons in Memphis, Tenn. The approximately 33,000 square-foot store is scheduled to open in the fall of 2017. The store is leased from Seritage Growth Properties (NYSE: SRG) who is replacing an existing Sears building with a first-class 135,000 square foot shopping center.

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. Nordstrom Rack merchandise, available at Rack stores as well as Nordstromrack.com, comes from Nordstrom stores, Nordstrom.com and specially purchased items from many of the top brands at Nordstrom. The Rack is designed to provide the ultimate treasure hunt to style-savvy customers.

The Seritage property is located in east Memphis at the intersection of Poplar Avenue and Perkins, directly across from Oak Court Mall.  Known as Poplar Commons, the newly developed center will include national retailers, specialty retail and several well-known restaurants. Near-by retailers include Macy’s, Dillard’s, Target, and Whole Foods.

“We’re excited to bring our first Nordstrom Rack to Memphis and can’t wait to open our doors in 2017,” said Geevy Thomas, president of Nordstrom Rack. “For some time now we’ve been looking for ways to grow here and we think customers will love the great brands we offer and appreciate the prices. We’re excited to get to work earning their business.”

“We are pleased to announce our sixth lease in our portfolio with Nordstrom Rack, who will anchor a newly built, first class shopping center in this thriving submarket of Memphis,” said Benjamin Schall, chief executive officer and president of Seritage Growth Properties. “Once completed, this redevelopment will exemplify our ability to unlock significant real estate value by transforming well located single-tenant parcels into institutional quality multi-tenant shopping centers.”

The Memphis Nordstrom Rack will be the company’s second Rack and third store in Tennessee. Currently customers can shop a full-line Nordstrom store in Nashville at Green Hills Mall and a Rack at Brentwood Place in Brentwood.

About Seritage
Seritage Growth Properties is a publicly traded, self-administered, self-managed REIT primarily engaged in the real property business through its investment in its operating partnership,Seritage Growth Properties, L.P. Our portfolio contains 235 wholly-owned properties and 31 joint venture properties, consisting of approximately 42 million square feet of building space, which is broadly diversified by location across 49 states and Puerto Rico.

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 323 stores in 39 states, including 121 full-line stores in the United States, Canada and Puerto Rico; 194 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.

MEDIA CONTACTS:
Dan Evans
Nordstrom, Inc.
(206) 303-3036
dan.evans@nordstrom.com

SOURCE Nordstrom, Inc.

Nordstrom Rack to open at The Marketplace at Braintree in Braintree, Massachusetts

SEATTLE, 2016-1-11 — /EPR Retail News/ — Seattle-based Nordstrom, Inc. (NYSE: JWN) announced today plans to open Nordstrom Rack at The Marketplace at Braintree in Braintree, Massachusetts. The approximately 35,000-square-foot store, leased from Seritage Growth Properties (NYSE: SRG), is scheduled to open in fall 2016.

Nordstrom Rack at The Marketplace at Braintree will join a diverse group of retailers including Ulta Beauty, Sports Authority, Best Buy, Bed Bath & Beyond and PetSmart. The 351,282-square-foot center is located south of downtown Boston and near main highways including I-93,I-95 and Route 3. Seritage is the fee owner of an existing 108,000-square-foot building at The Marketplace at Braintree that will be redeveloped for multiple national retailers, includingNordstrom Rack, and Ulta Beauty which is already open.

“We’re thankful for the opportunity we’ve had since 2007 to serve customers in the Bostonarea,” said Geevy Thomas, president of Nordstrom Rack. “Our new location at The Marketplace at Braintree will be more convenient for customers who live and work in the South Shore area, and we look forward to delivering them a great shopping experience.”

The new store, which is situated only two miles from the Nordstrom South Shore Plaza store, will be the sixth Nordstrom Rack in the greater Boston area. Nordstrom also operates four full-line stores in Massachusetts and has been serving customers in the state since 2007 when it opened at Natick Collection in Natick, Massachusetts.

“We are pleased to announce the fifth lease in our portfolio with Nordstrom Rack,” saidBenjamin Schall, Chief Executive Officer and President of Seritage Growth Properties. “WithNordstrom Rack as an anchor, and with additional national retailers to be announced shortly, the Braintree redevelopment serves as a strong example of our ability to repurpose desirable real estate in a value-enhancing way for our shareholders.”

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 to 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 323 stores in 39 states, including 121 full-line stores in the United States, Canada and Puerto Rico; 194 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 Seritage
Seritage Growth Properties is a publicly traded, self-administered, self-managed REIT primarily engaged in the real property business through its investment in its operating partnership,Seritage Growth Properties, L.P. Our portfolio contains 235 wholly-owned properties and 31 joint venture properties, consisting of approximately 42 million square feet of building space, which is broadly diversified by location across 49 states and Puerto Rico. Pursuant to a master lease, 224 of our wholly-owned properties are leased to Sears Holdings and are operated under either the Sears or K-Mart brand. The master lease provides Seritage with rights to recapture certain space from Sears Holdings at each property.

For more information, please visit www.seritage.com

MEDIA CONTACTS:
Dan Evans
Nordstrom, Inc.
(206) 303-3036
Dan.Evans@nordstrom.com

Mary Rottler
Seritage Growth Properties
212-355-7800
mrottler@seritage.com

SOURCE Nordstrom, Inc.