Market Overview

Nordstrom Rack To Open In Downtown Washington, D.C.

SEATTLE, Dec. 17, 2012 /PRNewswire/ -- Seattle-based Nordstrom, Inc., (NYSE: JWN) announced today plans to open a Nordstrom Rack in downtown Washington, D.C. at the 1800 L Street, NW building. The approximately 35,000-square-foot store is scheduled to open in spring 2013. 

Nordstrom Rack is the off-price retail division of Nordstrom, Inc., carrying on-trend merchandise from Nordstrom stores and Nordstrom.com at 50 to 60 percent off original Nordstrom prices. Nordstrom Rack also offers a wide selection of apparel, accessories and shoes from many of the brands carried in Nordstrom stores. These items are purchased specially for Nordstrom Rack, with most at savings of 30 to 70 percent off.

Nordstrom operates several full-line and Rack stores in the greater D.C. area. "We're excited to have the opportunity to bring a Nordstrom Rack to downtown Washington, D.C. with our new location at 1800 L," said Geevy Thomas, president of Nordstrom Rack. "We want to be a part of compelling locations across the country and are looking forward to getting our doors open to more conveniently serve our customers in Northwest D.C."

The new Nordstrom Rack will be centrally located in Northwest D.C. on the corner of 18th Street and L Street, which sits one block off Connecticut Avenue with close proximity to Foggy Bottom, Dupont Circle, K Street, the White House and The Mall. Eighteen Hundred L Street (1800 L) is part of the Eighteen Hundred and One K (1801 K) Street mixed-use development containing 590,000 square-feet of office space and 75,000 square-feet of retail space. The new one-level Rack store will occupy the street level of the former Borders book store and will join a vibrant business, retail and restaurant scene. Nearby stores include Brooks Brothers, Burberry, and Thomas Pink. Somerset Partners LLC owns and manages the 1800 L Street building.

"We're thrilled to be partnering with Nordstrom Rack to bring the best in off-price retail to downtown D.C.," said Gregory Knoop, Somerset's chief operating officer. "With an amazing selection of brand-name merchandise at great prices, we think the 1800 L Nordstrom Rack store is going to be a favorite destination for Washingtonians and tourists alike."

About Somerset Partners LLC
Somerset Partners is a New York-based private investment firm with commercial and residential properties throughout the United States. As a commercial real estate owner, the firm's mission is to offer a best-in-class environment; unprecedented in its attention to detail and level of service for discerning tenants. For further information, please visit www.somersetpartnersllc.com.

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 240 stores in 31 states, including 117 full-line stores, 119 Nordstrom Racks, two Jeffrey boutiques, one treasure&bond store and one clearance store. Nordstrom also serves customers through Nordstrom.com and through its catalogs. Additionally, the Company operates in the online private sale marketplace through its subsidiary HauteLook. Nordstrom, Inc.'s common stock is publicly traded on the NYSE under the symbol JWN.

MEDIA CONTACTS:
Kendall Ault
Nordstrom, Inc.
(206) 303-3019

Joseph Monteleone
Somerset Partners, LLC
(212) 825-1300

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

SOURCE Nordstrom, Inc.

 

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