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Nordstrom Rack Signs Lease at Tempe Marketplace

Seattle-based Nordstrom, Inc. JWN +0.07% announced today plans to open a Nordstrom Rack at Tempe Marketplace in Tempe. The approximately 35,000-square-foot store is scheduled to open in fall 2014. The property is owned and managed by Vestar.
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 and specially-purchased items from many of the top brands sold at Nordstrom. The Rack is designed to provide the ultimate treasure hunt to style-savvy customers.
The new Nordstrom Rack will be the sixth Rack store in Arizona. The company operates two full-line Nordstrom stores at Scottsdale Fashion Square and Chandler Fashion Center.
“Tempe Marketplace is a great spot for our fifth Nordstrom Rack in the Valley of the Sun,” said Geevy Thomas, president of Nordstrom Rack. “This new location can provide a closer-to-home option for customers in Tempe and we look forward to opening our doors next fall.”
The new Nordstrom Rack will open alongside a strong mix of retailers including Target, DSW, Old Navy and Steinmart. Located on Loop 101 & 102, Tempe Marketplace includes 1.3 million square feet of stores and restaurants.
“We are very excited to welcome Nordstrom Rack to Tempe Marketplace,” said David Malin, Director of Acquisitions and Development. “They are the perfect complement to the fashion component of our project and to our broad selection of shopping, dining and entertainment venues. We look forward to their fall opening in 2014.”

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