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Nordstrom Rack to Open at Mall at Sears

Seattle-based Nordstrom, Inc. announced today that they would be opening a Nordstrom Rack at The Mall at Sears. The approximately 35,000-square-foot store is scheduled to open in Fall 2015 in what is currently the north end of the existing Sears store.  Sears will continue to serve as a primary mall anchor and will undergo a complete interior remodel, new storefront and upgrade to its existing façade as a part of the comprehensive strategic plan for the property.

Nordstrom Rack is the off-price retail division of Nordstrom, Inc., offering customers a wide selection of on-trend apparel, accessories and shoes at an everyday savings of 30-70 percent off regular prices. The Rack carries merchandise from Nordstrom stores and Nordstrom.com, as well as specially-purchased items from many of the top brands sold at Nordstrom.

"We are grateful for the nearly 40 years of business and support from our customers in Anchorage," said Geevy Thomas, president of Nordstrom Rack. "We're thrilled that an opportunity became available to bring a Rack store to this community and offer our customers an additional way to shop with our company."

The Sears store at the Mall is owned by Sears Holding Corporation and is being redeveloped by Seritage Realty Trust, a division of Sears.  "We are very proud to welcome Nordstrom Rack as an important co-tenant in our redevelopment of the Sears property at The Mall at Sears along with a fully redesigned Sears store and other high-quality retailers," said David Lukes, chief executive officer of Seritage Realty Trust, the division of Sears Holding that negotiated the deal with Nordstrom.

The rest of the Mall is owned by Carr Gottstein Properties and has recently completed extensive interior and exterior remodels including a new entrance on the Benson side of the property.  According to Bob Mintz, the company’s general manager, “We are happy that Nordstrom Rack saw the value of the Mall’s high traffic and central location.  Along with our recent remodel we are working hard to bring the stores that Anchorage wants to what is undeniably its most convenient shopping center.”

About Nordstrom

Nordstrom, Inc. is one of the leading fashion specialty retailers based in the U.S. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 262 stores in 35 states, including 117 full-line stores, 142 Nordstrom Racks, two Jeffrey boutiques and one clearance store. Nordstrom also serves customers through Nordstrom.com and in the online private sale marketplace, HauteLook. Nordstrom, Inc.'s common stock is publicly traded on the NYSE under the symbol JWN.

About The Mall at Sears

Opened in 1968, The Mall at Sears was Anchorage's first enclosed shopping center and is located in the heart of Anchorage's bustling midtown district. The 232,100-square-foot enclosed shopping mall is anchored by Sears and Carr's/Safeway as well as a variety of shops, including Famous Footwear, GNC, Wells Fargo and Foot Locker.

About Seritage Realty Trust

Seritage Realty Trust, LLC is a nationwide developer of commercial real estate. Leveraging a portfolio that contains more than 200 properties in 33 states, the company offers quality retailers and other commercial users' unique access to mature suburban and urban markets within tailored redevelopment projects of exceptional design and operational standards.

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