Nordstrom Rack to Open at Arbor Lakes Shopping Center in Maple Grove, Minnesota

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Nordstrom Rack to Open at Arbor Lakes Shopping Center in Maple Grove, Minnesota

01/04/2009 5:00pm

PR Newswire (US)

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SEATTLE, April 1 /PRNewswire-FirstCall/ -- Seattle-based Nordstrom, Inc. (NYSE:JWN), a leading fashion specialty retailer, announced it will open a 34,000-square-foot Nordstrom Rack, a unit of the company's off-price retail division, at Arbor Lakes, a Kimco Realty shopping center located in Maple Grove, Minn. in fall 2009. "Arbor Lakes is a strong shopping center that is part of an extensive mix of retailers and restaurants serving Maple Grove," said Scott Meden, president of Nordstrom Rack. "We're excited to open our doors here and hope that customers will enjoy the outstanding values we have to offer on brand name merchandise." This will be the retailer's second Nordstrom Rack in Minnesota with the first Rack located at the Mall of America, 28 miles away in Bloomington, Minn. The company operates one Nordstrom full-line store in Minnesota, which is also located at the Mall of America in Bloomington. "Nordstrom Rack is a world class retailer and we are thrilled to partner with them," said Rob Nadler, president, central region of Kimco Realty. "The addition of such a strong traffic generator benefits all our merchants as well as provides a unique shopping experience for the entire Maple Grove area. Nordstrom Rack's decision to locate at Kimco's Arbor Lakes property is a testament to the strength of the shopping center and the trade area. Kimco is proud to continue and expand upon our fine relationship with Nordstrom." Arbor Lakes, which serves the western and northern suburbs of Minneapolis, is located at the intersection of I-694 and I-494. Its existing tenants include Byerly's, Jo-Ann Fabrics, Sports Authority, Chico's and Panera Bread, along with a variety of specialty shops and restaurants. Kimco Realty Corporation, a real estate investment trust (REIT), owns and operates North America's largest portfolio of neighborhood and community shopping centers. As of December 31, 2008, the company owned interests in 1,951 properties comprising 182 million square feet of leasable space across 45 states, Puerto Rico, Canada, Mexico and South America. Publicly traded on the NYSE under the symbol KIM and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for 50 years. For further information, visit the company's web site at http://www.kimcorealty.com/. Nordstrom Rack is the company's off-price retail division offering savings of 30 to 70 percent on apparel and accessories for women, men and children, including one of the most extensive collections of name-brand shoes available. Nordstrom Rack merchandise is made up of products from Nordstrom full-line stores and the company's online store at Nordstrom.com, as well as special purchase items. Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with 172 stores located in 28 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 110 full-line stores, 58 Nordstrom Racks, two Jeffrey boutiques and two clearance stores. Nordstrom also serves customers through its online presence at http://www.nordstrom.com/ and through its catalogs. Nordstrom, Inc. is publicly traded on the NYSE under the symbol JWN. MEDIA CONTACTS: Brooke White Nordstrom, Inc. (206) 373-3030 (Logo: http://www.newscom.com/cgi-bin/prnh/20001011/NORDLOGO) http://www.newscom.com/cgi-bin/prnh/20001011/NORDLOGO http://photoarchive.ap.org/ DATASOURCE: Nordstrom, Inc. CONTACT: Brooke White of Nordstrom, Inc., +1-206-373-3030 Web Site: http://www.nordstrom.com/

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