Nordstrom Rack to set up shop in Fulton Street mall

TRD New York /
Jul.July 30, 2013 01:30 PM

Nordstrom is heading to Downtown Brooklyn’s Fulton Street Mall, set to debut a 41,000-square-foot discount store in the spring of 2014, Crain’s reported.

The new Nordstram Rack — the store’s first foray into Brooklyn — will be located on the second floor of a building that houses T.J. Maxx and H&M on the ground floor.

“We want to be in the top locations across the country, so this spot at the heart of Downtown Brooklyn is big for us,” Geevy Thomas, president of Nordstrom Rack, said a statement. “We are thrilled to become a part of this exciting community at a historic location.”

Asking rents for ground floor space in Fulton Street Mall, which is in the process of attracting national retailers like H&M, are around $300 per square foot, up from $150 a few years ago, according to brokers cited by Crain’s.

The first Nordstrom Rack, where apparel and accessories are discounted between 30 and 70 percent, opened three years ago in Union Square. The off-price retailer is opening three other sites in the coming months, adding to 16 openings over the last year. Nordstrom also plans to open a full-price store in Extell Development’s planned tower on West 57th Street in Midtown. [Crain’s]Julie Strickland

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