Seattle-based Nordstrom Inc, a leading fashion specialty retailer, announced it has signed a letter of intent with CityNorth, an affiliate of Thomas J. Klutznick Company, for a new, 144,000-square-foot store in Phoenix, Arizona. The Nordstrom store is scheduled to open in fall 2009.
"We are fortunate to have loyal customers in and around the communities of our Chandler and Scottsdale stores," said Erik Nordstrom, president of stores for Nordstrom. "This is a terrific opportunity to expand our presence and offer a more convenient location in the Northeast Valley."
"We are delighted that Nordstrom has decided to open their new store at CityNorth," said Kenneth A. Himmel, co-developer of CityNorth and CEO of Related Urban Development Inc.
"Our partnership with best-in-class retailers like Nordstrom demonstrates our commitment to deliver the highest quality project to the community and our tenants."
CityNorth will incorporate retail, office, residential, hotel, dining and entertainment uses in a pedestrian-friendly environment. Situated on State Route 101 between Tatum Boulevard and 56th Street, CityNorth will, upon completion, become the urban core and major regional center for Phoenix's Northeast Valley.
The department store-anchored portion of the project is a $1.2 billion development with more than 2.5 million square feet of space.
Commenting on the announcement, Phoenix Mayor Phil Gordon said: "The arrival of the first Nordstrom store in the city of Phoenix is a milestone event.Nordstrom is one of the most respected names in retailing, and CityNorth will be an exciting development. Together, they are another example of how Phoenix is a city on the rise. It is with great pride that I welcome Nordstrom to Phoenix and to CityNorth."
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