SEATTLE, WA | NOV 30, 2007 — Seattle-based Nordstrom, Inc. (NYSE: JWN), a leading fashion specialty retailer, announced it has signed a letter of intent with General Growth Properties and Jim Wilson & Associates, LLC to open a new Nordstrom store at Riverchase Galleria in Birmingham. The two-level Nordstrom will be approximately 143,000 square feet and will open in the former Macy’s location. Scheduled to open spring 2012, the new Nordstrom will be the retailer’s first Alabama store.
“We’ve been looking for the right opportunity to open a store in the Birmingham area for years,” said Erik Nordstrom, president of stores for Nordstrom. “We’re eager to serve Alabama customers who already know us and to build relationships with those who are experiencing Nordstrom for the first time.” “Nordstrom sets the standard for retail excellence, something our shoppers have come to expect from GGP and Riverchase Galleria,” said Bob Michaels, president and chief operating officer of General Growth Properties, Inc. “This is a great opportunity to continue providing an unparalleled line-up of retail for the Birmingham shopper. Nordstrom’s commitment to outstanding merchandise and superior customer service will be a perfect complement to the existing department stores, Belk, Macy’s, JCPenney and Sears.”
“Riverchase Galleria is the premiere super-regional shopping center in the southeast,” said Jim Wilson, III, Chairman of the Board and CEO of Jim Wilson & Associates, LLC. “We continue to seek out and attract the most stellar tenants in the country and this is the case with Nordstrom, one of the leading fashion specialty retailers in the United States. My father, Jim Wilson, Jr., had the vision to bring Nordstrom to the Riverchase Galleria and for the past seven years, up until his death in 2006, worked toward that goal. We are excited to see his dream come to fruition with the announcement of Nordstrom joining the Riverchase lineup. Nordstrom’s presence will be a shopping boon to the City of Hoover, the Birmingham area and the entire Alabama market.”
In addition to the department stores, the two-level center boasts 200 specialty retailers and also includes restaurants, a hotel and an office building. The 1.5 million square foot center is Alabama’s number-one tourist destination. To learn more about Riverchase Galleria, visitwww.riverchasegalleria.com.
General Growth Properties, Inc. is one of the largest U.S.-based publicly traded real estate investment trusts (REIT) based on market capitalization. General Growth has ownership interests in or management responsibility for a portfolio of approximately 200 regional shopping malls in 45 states, as well as ownership and management interest in master-planned community developments in the U.S. and shopping centers in Brazil and Turkey. The Company’s portfolio totals approximately 200 million square feet and includes more than 24,000 retail stores. General Growth Properties, Inc. is listed on the New York Stock Exchange under the symbol GGP. For more information on GGP, please visit www.ggp.com.
About Jim Wilson & Associates, LLC
Jim Wilson & Associates, LLC, based in Montgomery, Ala., is a privately owned real estate company specializing in shopping centers, residential real estate investments, offices, condominiums, hotels and mixed-use developments. With over three decades of real estate experience, JWA has developed in excess of 21 million square-feet of shopping center space. The company’s development portfolio includes residential communities and condominium residences, mixed-use developments, Class A office buildings and hotel and country club assets. For more information, visit www.jwamalls.com
Nordstrom, Inc. is one of the nation’s leading fashion specialty retailers, with 157 stores located in 28 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 101 full-line stores, 51 Nordstrom Racks, two Jeffrey boutiques, one freestanding shoe store and two clearance stores. Nordstrom also serves customers through its online presence atwww.nordstrom.com and through its catalogs. Nordstrom, Inc. is publicly traded on the NYSE under the symbol JWN