Nordstrom Rack to Open in Brooklyn

Seattle-based Nordstrom, Inc., (NYSE: JWN) announced today plans to open a Nordstrom Rack at 505 Fulton Street in Brooklyn, NY. The approximately 41,000-square-foot store is scheduled to open in spring 2014. The developer for the project is United American Land LLC.

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% 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.

"We want to be in the top locations across the country, so this spot at the heart of downtown Brooklyn is big for us," said Geevy Thomas, president of Nordstrom Rack. "We are thrilled to become a part of this exciting community at a historic location, and we intend to make the most of the opportunity to serve customers and give them a reason to shop the Rack."

The new Nordstrom Rack will feature a unique design, blending the architecture of the landmark Offerman building with the contemporary style of an adjacent, newly built structure. The single-level store will occupy the second floor retail space. Long the location of Martin's department store, the redeveloped property will also house T.J. Maxx and H&M stores.

"We are thrilled and honored to have a tenant of the stature of Nordstrom Rack join this unique project on the Fulton Street Mall, the most vibrant retail strip in the most dynamic and cool 'City' of Brooklyn," says Albert Laboz, principal of UAL.

Nordstrom last year announced plans to open its first New York City full-line store in 2018 at Manhattan's 225 West 57th Street, between Broadway and Seventh Avenue. Nordstrom first came to the Tri-State Area in 1990, with the opening of its Garden State Plaza full-line store in Paramus, NJ, and currently operates 15 Nordstrom full-line and Rack stores in the area. Nordstrom Rack has operated in New York City since 2010 at its Union Square location.

About United American Land
United American Land LLC (UAL) is a family-owned real estate development, investment and management company based in New York City. Its principals, the brothers Albert, Jason and Jody Laboz, own and manage approximately fifty properties in Manhattan, Brooklyn and Queens. Restoring, improving and reinventing historic buildings in Tribeca, Soho, the Flat Iron district and downtown Brooklyn, UAL seeks to add value via conversion from commercial use to luxury residences or upgraded retail use. UAL principal Albert Laboz is also chairman of the Fulton Mall Improvement Association (BID).

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 248 stores in 33 states, including 117 full-line stores, 127 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.