First Nordstrom Rack To Open In Milwaukee
Seattle-based Nordstrom, Inc. announced plans to open a Nordstrom Rack in Milwaukee. This will be the retailer's first location in the state of Wisconsin. The approximately 36,000-square-foot store is scheduled to open in spring 2014 at The Mayfair Collection inWauwatosa, just outside of Milwaukee.
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.
The Mayfair Collection, a 250,000-square-foot planned adaptive reuse development of a former industrial complex and distribution center fronting the heavily-trafficked Highway 45, will be located a half mile from Mayfair Mall, the dominant regional mall in greater Milwaukee. The newNordstrom Rack will join co-tenants Dick's Sporting Goods and Ulta, which also recently signed leases for the project. The Mayfair Collection development is owned and managed by Chicago-based HSA Commercial Real Estate.
"We're thrilled to be bringing Nordstrom Rack to Milwaukee and hope this new store will help us more conveniently serve our customers who have been making the drive to Chicago to visit us," said Geevy Thomas, president of Nordstrom Rack. "The Mayfair Collection is a terrific location and we're looking forward to getting our doors open so that we can start serving the community."
"Nordstrom Rack, Dick's Sporting Goods, and Ulta each represent the leading retailers in their respective categories, and we are going to continue to build on that best-in-class tenant mix with other lease commitments for the project to be announced soon," said Timothy Blum, executive vice president with HSA Commercial Real Estate.
About HSA Commercial Real Estate
Founded in 1981, Chicago-based HSA Commercial Real Estate is a diversified, full-service real estate firm specializing in office, industrial, retail and health care real estate leasing, management, marketing, development and financing on a national basis. Along with developing and acquiring more than 50 million square feet of commercial real estate across the United States, with a total consideration in excess of $2.5 billion, HSA Commercial Real Estate has represented owners and tenants in more than 10,000 transactions in 43 states; manages a property portfolio in excess of 16 million square feet in locations across the nation; and owns more than 16 million square feet of commercial property in 14 states.
Nordstrom, Inc. is one of the nation's leading fashion specialty retailers. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 234 stores in 31 states, including 117 full-line stores, 113 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.