Destination Maternity announces new credit facility
Philadelphia — Destination Maternity Corp. announced that it has entered into a new $61 million revolving credit facility with Wells Fargo Bank, N.A.
The new credit facility replaces the retailer’s $55 million revolving credit facility with Bank of America, N.A., which was due to mature on January 13, 2013.
First new outlet center in California since 2001 to open Nov. 8
Livermore, Calif. — Paragon Outlets Livermore Valley, the first new outlet center to open in California since 2001, will hold its grand opening weekend celebration Nov. 8 through Nov 11.
Developed by Paragon Outlet Partners, a commercial real estate development firm headquartered in Baltimore, the $150 million, 543,000-sq.-ft. outlet center will feature 130 leading designer and top brand name stores.
"Paragon Outlets Livermore Valley is one of only five outlet centers that will open in the United States this year," said Paragon Outlet Partners principal Robert A. Brvenik.
Nordstrom Rack relocating to Westfield Culver City
Seattle — Nordstrom announced that it plans to relocate its Nordstrom Rack at Promenade at Howard Hughes Center in Los Angeles to Westfield Culver City in Culver City, Calif.
The new 37,675-sq.-ft. store, which expected to open in fall 2013, will sit just across the freeway from its current location and will remain conveniently located off Interstate 405. The relocated store will occupy space on the second level adjacent to the J.C. Penney court, and will feature an interior entrance as well as a new exterior entrance that’s convenient to the center’s main surface parking area.
“Howard Hughes Center has been a terrific home to us since we first opened there in 2001 and we’re thankful for the business,” said Geevy Thomas, president of Nordstrom Rack. “As we look to better serve our customers, it’s important that we continue taking advantage of the best real estate opportunities available and we believe Westfield Culver City will help us create a new and exciting shopping experience for our customers.”