Framingham/Natick Retail NewsCenter

Nordstrom To Open At Ala Moana Center And Natick Mall

Title: Nordstrom To Open At Ala Moana Center And Natick Mall

Author: Press Release

Publication: Press Release

Date of Publication: May 24, 2004

Corresponding Retail Development: Natick Collection 2007 Expansion

Corresponding Town: Natick

Web Site Link: http://www.generalgrowth.com/company/PressRelease.asp?id=236

Text:

(Chicago, IL) (May 24, 2004) – General Growth Properties, Inc. (NYSE: GGP), the country’s second largest shopping center owner, developer and manager, announced today the addition of Nordstrom to Ala Moana Center (Honolulu, HI) and Natick Mall (Natick, MA—Boston). Nordstrom is one of the country’s leading fashion specialty retailers. Nordstrom offers a large selection of quality fashion apparel, shoes and accessories for men, women, and children from some of the world’s most well known designers.

Nordstrom first started serving customers in Hawaii over three decades ago through leased shoe departments at a local retailer. Later, the company opened Nordstrom Shoes and the Nordstrom Rack. The opening at Ala Moana Center signals the state’s first full-line Nordstrom store. Nordstrom will join the 1.8 million square foot center’s anchor line-up of Macy's, Neiman Marcus, and Sears, in addition to 200+ specialty retailers. Ala Moana Center is one of the world’s most successful retail venues with sales per square foot in excess of $1,100.

The Nordstrom at Natick Mall will be Massachusetts’s first and only Nordstrom store. The opening of the Natick Mall Nordstrom will highlight the center’s major expansion, with more than 550,000 square feet of retail and restaurant space to be added. Natick Mall is one of New England’s most productive shopping centers with sales per square foot at approximately $500. It is located approximately 15 miles west of Boston.

“Our vision at General Growth is people creating special places and experiences. The addition of Nordstrom to Ala Moana Center and Natick Mall is another example of this. We are committed to offering the best retail environments to our shoppers both locally and around the world,” said Bob Michaels, president of General Growth Properties. “Nordstrom is committed to great service, merchandise, quality and value. It’s the perfect complement to the merchandise mix at Ala Moana Center and Natick Mall.”

Nordstrom was founded as a shoe store in 1901 by John W. Nordstrom. More than a century after John W. Nordstrom first went into business, the company has become one of the nation’s leading fashion retailers with more than 149 stores in 27 states. The company continues to be guided by its founder’s philosophy of offering the customer the best possible service, selection, quality and value.

“We can’t see a better fit for our customers than at Ala Moana Center and Natick Mall. They are two of the country’s premier shopping and entertainment destinations,” said Blake Nordstrom, president of Nordstrom, Inc. “We remain committed to the basic principle our company was founded on, earning the trust of our customers, and their business, one customer at a time. We’re looking forward to serving long-time customers in Hawaii with a full-line store, and becoming a new addition to the community in Boston.

ABOUT NORDSTROM
Nordstrom operates 93 full-line stores, 49 Nordstrom Racks, five Façonnable boutiques, one free-standing shoe store, and one clearance store. Nordstrom also operates 31 international Façonnable boutiques, primarily in Europe. Additionally, Nordstrom serves customers through its online presence at http://www.nordstrom.com and through its direct mail catalogs. Nordstrom, Inc. is publicly traded on the NYSE under the symbol JWN.

ABOUT GENERAL GROWTH PROPERTIES
Ala Moana Center and Natick Mall are owned and managed by General Growth Properties, the country's second largest shopping center owner, developer and manager. General Growth currently has ownership interest in, or management responsibility for, a portfolio of 177 regional shopping malls in 41 states. The company portfolio totals approximately 153-million square feet of retail space and includes over 16,000 retailers nationwide. A publicly traded Real Estate Investment Trust (REIT), General Growth Properties is listed on the New York Stock Exchange under the symbol GGP. For more information on General Growth Properties and its portfolio of malls, please visit the company Web site at www.generalgrowth.com.