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TheStreet Open House

Nordstrom Rack To Open In Columbia

Stocks in this article: DDR JWN

SEATTLE, Jan. 21, 2014 /PRNewswire/ -- Seattle-based Nordstrom, Inc. (NYSE: JWN) announced today plans to open a Nordstrom Rack at Harbison Court in Columbia, S.C. The approximately 34,000-square-foot store is scheduled to open in fall 2014. Harbison Court is owned and managed by DDR Corp. (NYSE: DDR).

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.

When it opens, the Harbison Court Nordstrom Rack will be the company's second location in South Carolina, following the recently announced location in Greenville. Both stores are set to open next fall.

"We can't wait to open our South Carolina stores in 2014," said Geevy Thomas, president of Nordstrom Rack. "This new location will help us serve customers more conveniently in Columbia and we're excited to bring our take of the ultimate treasure hunt to customers who are brand-conscious and love affordable fashion."

The new Nordstrom Rack is conveniently located off Interstate 26 and adjacent to the Columbiana Mall. It will move into the space formally occupied by Barnes and Noble and join an expanding list of retailers filling out Harbison Court alongside Ross Dress for Less, Marshalls, Pier 1 Imports, Golfsmith and Anna's Linens. In conjunction with the opening, DDR will be upgrading the façade of the entire center.

"The addition of Nordstrom Rack solidifies Harbison Court as the premier shopping destination for off-price branded merchandise in the Columbia market," said Paul Freddo, senior executive vice president of leasing and development for DDR. "The Harbison Court location will be the ninth Nordstrom Rack store in our portfolio and we look forward to ongoing success and expansion with this high-quality retailer."

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, 140  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 Harbison Court Harbison Court is a 317,066-square-foot prime power center located in Columbia, S.C., featuring a trade area population of 392,800. The property's other anchor tenants include Ross Dress for Less, Marshalls, Pier 1 Imports, Golfsmith, and Anna's Linens. Harbison Court is situated in the heart of the strongest retail submarket in Columbia, SC, and benefits from its adjacent location to the Columbiana Mall off Interstate 26.

About DDR Corp. DDR Corp. (NYSE: DDR) is an owner and manager of 415 value-oriented shopping centers representing 115 million square feet in 39 states, Puerto Rico and Brazil. The company's assets are concentrated in high barrier-to-entry markets with stable populations and high growth potential and its portfolio is actively managed to create long-term shareholder value. DDR is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol DDR. Additional information about the company is available at www.ddr.com, as well as on Twitter, LinkedIn and Facebook.

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

Matt SchulerDDR Corp. (216) 755-5500 MSchuler@ddr.com

(Photo:  http://photos.prnewswire.com/prnh/20130222/SF64843)

(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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