REAL ESTATE

Nordstrom Rack in 2017 opening

BY Dan Berthiaume

Seattle — Nordstrom remains on the move with its off-price division.

The department retailer said it plans to open Nordstrom Rack at Woodmore Towne Center in Glenarden, Maryland. The approximately 30,000-sq.-ft. store is scheduled to open in spring 2017.

The property is owned by Petrie Richardson Ventures, in a joint venture with Prudential Real Estate Investors.

Nordstrom Rack is a part of phase two of the project joining existing anchors Wegmans and Costco. Other retailers include Best Buy, Old Navy, J.C. Penney and several restaurants.

The new store will be the fifth Nordstrom Rack in Maryland. Nordstrom also operates four full-line stores, and began serving Maryland customers in 1991 with its store at Montgomery Mall in Bethesda.

"We are extremely excited to have the Nordstrom brand joining our lineup of fantastic retailers at Woodmore. The folks at the Rack have been great to work with to keep us on schedule for Phase Two of the project. This is the first Nordstrom Rack in Prince George's County and their addition to Woodmore rounds out our merchandising mix. We could not be happier to have them," said Walter H. Petrie, chairman of Petrie Richardson Ventures.

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REAL ESTATE

New West Elm boasts armory-inspired design

BY Dan Berthiaume

Brooklyn, N.Y. — The design of West Elm’s upcoming store was inspired by a armory.

The retailer will open its ninth New York store on July 23. The 10,600-sq,-ft. store is located at Culver Road Armory, in Rochester.

The store design is representative of the restored military armory, which was built in 1916. The building boasts exposed, original brick walls with traces of exposed truss, brace and beam structure. The raw texture of the cash wrap complements these special elements of the building’s rich history.

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REAL ESTATE

Phillips Edison buys trio of grocery-anchored centers

BY Katherine Boccaccio

Photo: Central Valley Marketplace, Ceres, California

Cincinnati — Phillips Edison Grocery Center REIT II, Inc. has acquired three grocery-anchored shopping centers in Michigan, California, and Massachusetts, bringing the company’s retail portfolio to 33 grocery-anchored centers totaling 3.5 million sq. ft.

Crossroads Towne Center is a 102,275-sq.-ft. Kroger-anchored center in Howell, Michigan, a suburb of Ann Arbor. Central Valley Marketplace, at 81,897 sq. ft., is anchored by PAQ Food 4 Less and located in Ceres, California, a suburb of Modesto.

Highlands Plaza is a 112,869-sq.-ft. grocery Hannaford-anchored shopping center in Easton, Massachusetts, a suburb of Boston.

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