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Nordstrom, Inc. announced plans to open a Nordstrom Rack at Pembroke Mall in Virginia Beach, Va. The 32,500-square-foot store is scheduled to open in spring 2016. The property is owned by Sears Holdings.
The new Nordstrom Rack will occupy a portion of the existing Sears on the ground level located off Virginia Beach Boulevard and Independence Boulevard. The mall's current anchor tenants include Target, Kohl's and Steinmart. Sears will continue to occupy a position on the primary floor of the existing store. Sears Holdings also signed a lease with DSW for an adjacent store that will soon open at the mall.
"We are thrilled to have an opportunity to open a Nordstrom Rack in southeast Virginia," said Geevy Thomas, president of Nordstrom Rack. "We want the new Rack to be Virginia Beach's destination for great brands at great prices. We believe Pembroke Mall is an ideal location for customers living in and visiting Virginia Beach."
When it opens, it will be the seventh Nordstrom Rack in Virginia. The company will open its sixth Rack location at Springfield Town Center on April 16. Nordstrom operates five full line stores in the state as well.
"Sears Holdings continues to strategically transform its real estate portfolio by working with leading retailers such as Nordstrom Rack and by being more efficient with our selling space to improve the productivity of our stores," said Jeff Stollenwerck, President of Real Estate for Sears Holdings. "We are pleased to have executed a number of these transactions with Nordstrom Rack that serve as an additional revenue stream, drive efficiency in our store operations and bring in increased customer traffic."
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