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Nordstrom selects Gateway Center for 1st Rack store in Austin
25
Mar '09
Seattle-based Nordstrom Inc, a leading fashion specialty retailer, announced it will open a 35,000-square-foot Nordstrom Rack, a unit of the company's off-price retail division, at Gateway Center in Austin, Texas in fall 2009.

"Gateway Center is a strong shopping center and we're excited to open our first Austin-area Rack store and begin serving this community," said Scott Meden, president of Nordstrom Rack. "We hope customers will enjoy the outstanding value on name-brand merchandise that we have to offer."

"We're thrilled that Nordstrom has selected Gateway Center for its first Rack store in Austin," said Myles Minton, president of Simon's community/lifestyle centers division. "Our companies enjoy a great relationship and this is further evidence of that."

This will be the retailer's first Nordstrom Rack in the greater Austin area and its fifth in the state. This includes a new Rack store that opened at Park Lane in Dallas on March 19, and another at the Shops of Southlake in Southlake that will open this fall. The company also operates seven Nordstrom full-line stores in Texas, and will open a new store at The Domain in Austin in fall 2012.

Owned by Simon Properties Group, Gateway Center is an upscale community/lifestyle center on the northwest side of Austin. It is located at the intersection of US Highway 183 North and the Capital of Texas Highway-360. Other tenants include Best Buy, Container Store, Crate & Barrel, Old Navy, Regal Cinemas, REI, Smith & Hawken and Whole Foods among several other small shops.

Simon Property Group, Inc. is an S&P 500 company and the largest public U.S. real estate company. Simon is a fully integrated real estate company which operates from five retail real estate platforms: regional malls, Premium Outlet Centers, The Mills, community/lifestyle centers and international properties.

It currently owns or has an interest in 386 properties comprising 263 million square-feet of gross leasable area in North America, Europe and Asia. The Company is headquartered in Indianapolis, Indiana and employs more than 5,000 people worldwide. Simon Property Group, Inc. is publicly traded on the NYSE under the symbol SPG.

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


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