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Seattle-based Nordstrom, Inc. (NYSE:JWN) , a leading fashion specialty retailer, announced it has signed a letter of intent with General Growth Properties, Inc. (NYSE:GGP) , to open a Nordstrom store at Summerlin Centre in Las Vegas. The new two-level, 149,000-square-foot Nordstrom store is scheduled to be completed in fall 2009. Summerlin Centre will be the social, civic and commercial center of the Las Vegas community of Summerlin.
The Nordstrom at Summerlin Centre will be the retailer's second full-line store in Nevada. Nordstrom at Fashion Show -- another General Growth-owned- and-managed shopping center -- opened in 2002, and Nordstrom also operates a Rack in Las Vegas.
"Opening a second store in Las Vegas was an easy decision for us. The city continues to grow, and our store at Fashion Show has done very well over the last four years. By adding another location, we hope we can more conveniently serve customers who live and work in Las Vegas," said Erik Nordstrom, president of stores for Nordstrom.
General Growth said that within weeks it plans to officially break ground on the development and announce additional anchor stores and other retailers. A grand opening is scheduled for spring 2009.
"Even before today's announcement, Summerlin has been a tremendous residential and commercial success story," said John Bucksbaum, chief executive officer of General Growth Properties. "With a world-class retailer like Nordstrom, we now have the beginning of a rich blend of retail that will be situated near beautiful public plazas, residences and offices."
"As we break ground for our new retail center in Summerlin we will give the 22,500-acre community a commercial core with urbanity, entertainment, fashion, great food and highly desirable workplaces and residences," continued Bucksbaum. "Nordstrom is one of our most requested stores and accelerates our progress toward opening day," he said.
Web site:
http://www.nordstrom.com/
http://www.generalgrowth.com/

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