SEATTLE, July 21 /PRNewswire-FirstCall/ -- Seattle-based Nordstrom, Inc. (NYSE: JWN), a leading fashion specialty retailer, announced it will open a 32,136 square-foot Nordstrom Rack, a unit of the company's off-price retail division, in Manhattan at One Union Square South on 14th Street between Broadway and Fourth Avenue on the south side of Union Square Park. Scheduled to open in spring 2010, this will be the retailer's first Nordstrom Rack in Manhattan.
"We're pleased to announce the first Manhattan Nordstrom Rack," said Scott Meden, president of Nordstrom Rack. "This is a rare opportunity that opened at the right time for us. Union Square is a thriving retail area and is an ideal location for the city's first Rack. When we open for business next spring, customers can expect to find savings on merchandise from many of the same brands carried at Nordstrom stores."
Nordstrom Rack carries merchandise from Nordstrom stores and Nordstrom.com at 50-60% off original Nordstrom prices. Nordstrom Rack also offers a wide selection of apparel, accessories and shoes from many of the lines carried in Nordstrom stores and purchased specially for Nordstrom Rack, with most at savings of 30-70% off.
In the tri-state area, the company currently operates eight Nordstrom stores and three Nordstrom Racks.
"Nordstrom is one of the nation's leading fashion retailers and we are delighted that they have chosen Union Square, one of New York City's most desirable commercial destinations for their first Manhattan Nordstrom Rack store. Related has played a key role in the revitalization of Union Square for over a decade and we are proud to continue to contribute to the transformation of the area," said Jeff T. Blau, president of Related Companies.
One Union Square South consists of a 22-story luxury residential rental tower located above a five-story retail block that includes Regal Cinemas and several other prime retail spaces. The building's facade features a public artwall containing the mixed-media Metronome by Andrew Ginzel and Kristin Jones that was at the time the largest private commission of public art in New York City's history. Nordstrom Rack at One Union Square South will have 30 feet of street level storefront and will occupy the lower level of the former Virgin Megastore. Also joining Nordstrom at One Union Square South is Best Buy, which is expected to open in the former Circuit City space during the fourth quarter of 2009.
One of the most vibrant districts in New York City, Union Square is a dynamic center of food and fashion, culture and cutting edge businesses. The approximately 12,000 businesses located within a half-mile radius of Union Square employs about 140,000 people. Union Square is home to the City's oldest Greenmarket, a beautiful historic park, and hundreds of restaurants and shops.
