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TheStreet Open House

Nordstrom Rack To Open In Dayton

Stocks in this article: JWN

SEATTLE, Jan. 9, 2014 /PRNewswire/ -- Seattle-based Nordstrom, Inc. (NYSE: JWN) announced today plans to open a Nordstrom Rack at The Greene Town Center in Dayton, Ohio. The approximately 35,000-square-foot store is scheduled to open in fall 2014. The Greene is managed by Olshan Properties, formerly known as MPI, Mall Properties, Inc.

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 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.

Nordstrom Rack currently has four other locations in Ohio, two of which opened this past fall in Columbus and Westlake. A second Rack location in Columbus is set to open at Sun Center this spring. Nordstrom operates three full-line stores and first came to the state in 1997 at Beachwood Place.

"We're excited to have the opportunity to open a Nordstrom Rack at The Greene," said Geevy Thomas, president of Nordstrom Rack. "We believe The Greene represents the best of shopping and entertainment in the area and we are thrilled to be a part of this compelling retail environment. This additional location will make it more convenient for customers who have been making the drive to shop our stores in Cincinnati and Columbus."

The 1.1 million-square-foot, mixed-use community features open-air gathering spaces, parks for children, over 200 residential units and pedestrian-friendly streets running through the center. The new Nordstrom Rack will join a strong mix of retailers and restaurants such as Banana Republic, Sephora, Forever 21, The Cheesecake Factory and McCormick & Schmicks among others.

"With our winning mix of residential, office and retail in a pedestrian-focused, town center environment, The Greene has long been the location of choice for leading retailers, particularly first time entrants into the Dayton market looking for one special location from which to launch their local presence," said Jim Davis, vice president of leasing for Olshan Properties. "We are very proud of the great lineup of brand name tenants which are thriving at The Greene and are delighted to welcome Nordstrom Rack into the mix to share its best-in-class shopping experience with our consumers."

About The Greene Town Center The Greene, owned and developed by Olshan Properties, formerly known as MPI, Mall Properties, Inc., opened to thousands of eager visitors on August 24, 2006. The 72-acre, 1.1 million-square-foot, mixed-use community features pedestrian-friendly streetscapes, open-air gathering spaces, pop fountains and parks for children, in addition to over 120,000 square feet of second floor office space and over 200 residential units in an urban environment overlooking the bustling activity of the site. The Greene is the latest step in the evolution of the mixed-use town center concept, which helped initiate and contribute to the "live, work, play" philosophy and lifestyle now growing across the United States.  www.thegreene.com

About Olshan Properties Olshan Properties, formerly known as MPI, Mall Properties, Inc., is a privately owned real estate firm specialized in the development, acquisition, leasing and management of commercial real estate for 55 years. The close integration of investment and operating capabilities has given Olshan Properties a reputation as one of the leading private owners of commercial real estate in the country.  Olshan Properties currently owns and/or operates a diverse portfolio of commercial properties including retail, hotel, office and residential in eleven states. For more information, click here.  

About Nordstrom 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 261 stores in 35 states, including 117 full-line stores, 141  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.

MEDIA CONTACTS: Naomi TobisNordstrom, Inc.(206) 303-4250 Naomi.tobis@nordstrom.com

Margot Olcay for Olshan PropertiesRubenstein Associates (212) 843-8284 molcay@rubenstein.com

(Logo: http://photos.prnewswire.com/prnh/20001011/NORDLOGO)

SOURCE Nordstrom, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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