Seattle-based Nordstrom Inc, a leading fashion specialty retailer, announced it has signed a letter of intent with Pennsylvania Real Estate Investment Trust (PREIT) to open at Cherry Hill Mall, Cherry Hill. The new Nordstrom store will be two-levels and 144,000 square-feet.
The store will be built as part of Cherry Hill Mall's redevelopment effort that will also include 120,000 square feet of additional retail space. Nordstrom is scheduled to open in spring 2009.
"We are excited to be a part of the Cherry Hill Mall and, as good as it is today, we feel fortunate to be a part of the redevelopment that will take it to a new level," said Erik Nordstrom, President of stores for Nordstrom.
"By building a new store at Cherry Hill Mall, we hope to provide a convenient location to serve our South Jersey and Philadelphia area customers."
"Cherry Hill Mall has long been the dominant mall and market leader for retail in this area. Nordstrom is one of today's highest quality retailers, and the most-sought out from customers as well," said Ron Rubin, PREIT's Chairman & Chief Executive Officer.
"With the addition of this store, and the redevelopment of the mall, we expect that Cherry Hill Mall will become one of the premier shopping environments in the country."
At a press conference today, Cherry Hill Mayor Bernie Platt will share the announcement of the new Nordstrom along with details of the redevelopment.
"Today's announcement of the new Nordstrom, along with the planned redevelopment of the Cherry Hill Mall, will greatly strengthen shopping in South Jersey," said Mayor Platt.
marketing@alchempro.com
