REAL ESTATE

Nordstrom Rack to open in Orange, Calif.

BY CSA STAFF

Seattle — Nordstrom plans to open a Nordstrom Rack in Orange, Calif. The 35,000-sq.-ft. store will be located at The Block at Orange and is expected to open in spring 2012.

"We are very excited to move forward with our new store at The Block at Orange," said Geevy Thomas, president of Nordstrom Rack "This is one of the area’s top shopping destinations and a terrific opportunity for us to better serve our loyal OC customers."

Nordstrom Rack will be a part of the new development on the eastern side of The Block at Orange, which offers nearly 100 name-brand outlet and value retail stores, restaurants and un entertainment venues.

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FINANCE

Dollar Tree completes acquisition of Canada’s Dollar Giant Store

BY CSA STAFF

Chesapeake, Va. — Dollar Tree announced that it has completed its purchase of the assets of Dollar Giant Store Ltd, which is based in Vancouver, B.C. The purchase is Dollar Tree’s first expansion of its retail operations outside of the United States.

Dollar Giant stores offer a wide assortment of quality general merchandise, contemporary seasonal goods and everyday consumables, all priced at $1.25 (CAD) or less. The stores average 9,000 sq. ft. and operate in British Columbia, Ontario, Alberta and Saskatchewan.

Under the terms of the agreement, Dollar Tree acquired 86 Dollar Giant stores including substantially all assets, inventory, leasehold rights and intellectual property for approximately $52 million in cash, plus the assumption of certain liabilities.

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REAL ESTATE

Brown Shoe to test new store format

BY CSA STAFF

St. Louis — Brown Shoe Co. will test a new retail format, called Mind Body Sole by Famous Footwear, that offers a wide range of fitness footwear for active consumers. The shops, opening in five locations by yearend, will feature footwear for running, walking, hiking, toning and more from top brands including Nike, Reebok, ASICS, Skechers, New Balance, Avia, Saucony, Adidas and K-Swiss.

“The store experience is geared toward customers starting or expanding a fitness routine, who are shopping for advice and motivation along with footwear. Opening five stores is the right investment to enhance our understanding of how people shop for fitness footwear, creating key learnings that will be applicable across our healthy living platform company-wide," said Famous Footwear president Rick Ausick.

The new concept will debut on Nov. 18 in the Burlington Mall in Burlington, Mass.; Cherry Creek Shopping Center in Denver; and The Florida Mall in Orlando, Fla.; and Woodland Hills Mall in Tulsa, Oak. A fifth location will open on Dec. 6 in Mall at Wellington Center in Palm Beach, Fla.

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