11/7/22- Total Retail- TLB

Nordstrom Rack to Open Three New Stores in Union Gap and Olympia, WA and Salem, OR

Press Release from Nordstrom

SEATTLE, Sept. 14, 2022 /PRNewswire/ -- Seattle-based fashion retailer Nordstrom, Inc. (NYSE: JWN) has announced plans to open three new Nordstrom Rack stores in fall of 2023. The new stores will be located in Union Gap and Olympia, WA and Salem, OR.

"We look forward to opening these new Nordstrom Rack locations in Union Gap, Olympia and Salem communities, strengthening our network of stores, and introducing new customers to the Rack's unique product offering," said Carl Jenkins, Senior Vice President of Nordstrom Rack Stores. "In addition to shopping the brands they love at a great price, even more customers in Washington and Oregon can take full advantage of these convenient new locations to pick up online orders and make returns."

With the addition of these three new locations, Nordstrom will operate 12 Nordstrom Rack stores and six Nordstrom stores in Washington and seven Nordstrom Rack stores and two Nordstrom stores in Oregon.

Union Gap, Washington

In Union Gap, Wash., Nordstrom Rack will open a 28,000 square-foot store at Valley Mall, the premier shopping destination in central Washington that features over 80 local, regional and national retailers and restaurants located in the heart of Yakima Valley including Cabela's, Guitar Center, and Bath & Body Works. Valley Mall is owned and managed by CenterCal Properties, LLC.

"We are truly excited to announce the addition of Nordstrom Rack to our fine group of tenants at Valley Mall," said Fred Bruning, Chairman and Founder, CenterCal Properties. "Bringing the famous Nordstrom name back to the valley has been a goal of ours for many years, and we are sure they will be welcomed warmly by the local community. The addition of Nordstrom Rack underscores our commitment to keeping Valley Mall vibrant and the leader in retail shopping for the entire valley."

Olympia, Washington

In Olympia Wash., Nordstrom Rack will open a 32,000 square-foot store in Cooper Point Marketplace, a regional shopping center serving West Olympia and Thurston County that also includes HomeGoods, Ashley Furniture and Kaiser Permanente. Cooper Point Marketplace is owned and managed by Merlone Geier Partners and is ideally located at the corner of Black Lake Boulevard SW and Cooper Point Road SW.

"Merlone Geier is excited to welcome Nordstrom Rack to Cooper Point Marketplace," said Heather Beal, Managing Director of Merlone Geier Partners.

Salem, Oregon

In Salem, Ore., Nordstrom Rack will open a 25,000 square-foot store at the Willamette Town Center, a regional power shopping center and a Salem, Oregon fixture for retail, dining, and family entertainment for over 45 years. This enclosed shopping center is also home to Best Buy, Ulta, DSW and HomeGoods. Willamette Town Center is owned and managed by C.E. John Co. and is ideally located near Center Street NE and 99E.

"Willamette Town Center has become a draw for the entire mid-Willamette Valley for shopping and dining," said the ownership group of Willamette Town Center. "Adding Nordstrom Rack to our tenant mix only strengthens what we believe to be one of Oregon's most dominant shopping centers offering the county's strongest and move exciting tenants."

Nordstrom Rack is the off-price retail division of Nordstrom, Inc. and plays a critical role in the company's Closer to You strategy, which focuses on delivering customers a more convenient and interconnected experience across its stores and digital platforms. Nordstrom Rack offers customers up to 70 percent off on-trend apparel, accessories, beauty, home and shoes from many of the top brands sold at Nordstrom stores as well as core services like online order pickup for Nordstrom.com and NordstromRack.com, easy returns and alterations at select stores. Nordstrom Rack is the largest source of new customers to Nordstrom.

Nordstrom is committed to giving back to the diverse communities where it operates. Since 2019 along with its customers, Nordstrom has donated more than $1.5 million in support of its long-term partnership with Big Brothers Big Sisters of the United States and Canada. These proceeds support the recruitment, training and engagement of adult mentors and mentorship moments between Bigs and Littles, including preparing for an interview, learning to tie a tie and helping with homework.

About Nordstrom

At Nordstrom, Inc. (NYSE: JWN), we exist to help our customers feel good and look their best. Since starting as a shoe store in 1901, how to best serve customers has been at the center of every decision we make. This heritage of service is the foundation we're building on as we provide convenience and true connection for our customers. Our digital-first platform enables us to serve customers when, where and how they want to shop – whether that's in-store at more than 350 Nordstrom, Nordstrom Local and Nordstrom Rack locations or digitally through our Nordstrom and Rack apps and websites. Through it all, we remain committed to leaving the world better than we found it.

About Centercal Properties LLC (UnionGap)

CenterCal Properties, LLC, founded in 2004 by Fred Bruning and Jean Paul Wardy, is a full-service commercial real estate company in the business of investing, developing, leasing, and managing its projects. CenterCal excels in, and is best known for, creating destinations throughout the western United States with a unique strategy of "place-making," which emphasizes the importance of developing spaces with a sense of community.

Bruning and Wardy's creative vision and passion for development, coupled with CenterCal's internal expertise, is evident in the properties the company owns and operates today. In the Pacific Northwest, those include: Bridgeport Village, Nyberg Rivers and Nyberg Woods in Oregon, and The Village at Totem Lake, Valley Mall, The Terminal at Ballard and The Trails at Silverdale in Washington. The Intermountain Region properties include: Mountain View Village, Station Park and Canyon Corners in Utah and The Village at Meridian and Treasure Valley Marketplace in Idaho. California is home to: Bay Street Emeryville, The Veranda, The Collection at Riverpark, 2nd & PCH and Plaza 183. CenterCal Properties also provides our valued partners with 3rd Party Management services at Manhattan Town Center in Manhattan, Kansas. For more information on all of CenterCal's properties, please visit www.centercal.com.

About Merlone Geier

Merlone Geier Partners is a vertically integrated and regionally focused firm. We invest in West Coast retail properties and actively perform our own leasing, property management, construction management, design and capital formation. We have acquired, to date, 173 West Coast properties representing in excess of 28.6 million square feet. Our firm – managed by Peter J. Merlone, Bradley A. Geier, Scott A. McPherson, Gabriela F. Parcella and Jonathan C. Lischke – has raised more than $4.5 billion of discretionary institutional equity capital over the past 29 years. We provide our institutional investors the opportunity for attractive risk-adjusted returns through active real estate management, including leasing, redevelopment and densification. We closed our thirteenth fund, Merlone Geier Partners XIII, L.P., in April 2022. For more information, visit our website www.merlonegeier.com

About C.E. John Co. and Hummelt Development Company

C.E. John Co. is a third-generation family-owned and operated real estate development company located in Vancouver, WA. Hummelt Development Company is a family-owned and operated development company located in Wilsonville, OR.

MEDIA CONTACT:
Caroline Mattingly
Nordstrom, Inc.
NordstromPR@Nordstrom.com

Nordstrom Incorporated logo. (PRNewsFoto)

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