SEATTLE, April 9, 2014 /PRNewswire/ — Seattle-based Nordstrom, Inc. (NYSE: JWN) announced today plans to open a Nordstrom Rack at Mountain Grove adjacent to Citrus Plaza in Redlands, Calif. The approximately 35,000-square-foot store is scheduled to open in spring 2015. Mountain Grove is owned and managed by Majestic Realty Co.
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, Nordstrom.com and 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.
When it opens, the Mountain Grove Nordstrom Rack will be the seventh Rack destination within the Inland Empire. The company also operates two Nordstrom stores in the area at The Galleria at Tyler in Riverside and at Montclair Plaza. The Rack just recently opened a new store at Riverside Plaza on April 3.
“We’ve been thrilled with the customer response as we’ve continued to grow the Rack throughout southern California,” said Geevy Thomas, president of Nordstrom Rack. “We know our customers want great fashion at great prices. This new location will provide a closer option for those in the Redlands community and we are excited to be a part of this compelling retail environment.”
Mountain Grove is conveniently located in the northwest corner of the center off the 210 and 10 freeways. Nordstrom Rack joins a growing list of retailers such as T.J.Maxx, buybuy BABY, HomeGoods and Tilly’s filling out the final first phase of the project. The new development will compliment the established Citrus Plaza which has been anchored by tenants including Target, Kohl’s and Bed Bath & Beyond since opening in 2004.
“We’re extremely excited to welcome Nordstrom Rack to the growing list of high quality companies that are choosing Mountain Grove as their newest home,” said Majestic Realty Co. vice president and director of development John Hunter. “The overwhelming success of Citrus Plaza over the past decade has set the foundation for retail in this region and we look forward to sharing similar successes with new partners like Nordstrom Rack at Mountain Grove.”
Nordstrom, Inc. is one of the leading fashion specialty retailers based in the U.S. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 267 stores in 36 states, including 117 full-line stores, 147 Nordstrom Racks, two Jeffrey boutiques and one clearance store. Nordstrom also serves customers through Nordstrom.com and in the online private sale marketplace, HauteLook. Nordstrom, Inc.’s common stock is publicly traded on the NYSE under the symbol JWN.
About Mountain Grove
Mountain Grove is a 67-acre lifestyle and entertainment development contiguous to Majestic Realty’s highly successful Citrus Plaza in Redlands, Calif., which since opening in 2004, has enjoyed a 99 percent-plus occupancy rate anchored by tenants including Target, Kohl’s and Bed Bath & Beyond. At full build-out, Mountain Grove will include 670,000-square-feet of retail, entertainment and promotional retailers. Together, Mountain Grove and Citrus Plaza will offer 1.2 million square feet of retail, hospitality and entertainment uses in what industry leaders rank as one of the country’s strongest retail markets.
About Majestic Realty Co.
Majestic Realty Retail is a division of Majestic Realty Co., the nation’s largest, privately-held commercial real estate development company. Founded in 1948, Majestic Realty Co. is a fully-integrated development, leasing, construction and management company with offices in five states and a team of more than 200 professionals. The Majestic portfolio consists of approximately 70 million square feet and includes industrial, retail, office, hospitality and entertainment facilities.
Majestic Realty Co.
Link to Original Article: Original Wall Street Journal Article is no longer online