Nordstrom Rack to open next spring at Promenade at Town Center
Santa Clarita's first Nordstrom Rack will open next spring at the Promenade at Town Center.
By Patrick Mullen
Wednesday, July 12th, 2017

Nordstrom Inc. plans to open its first store in Santa Clarita, a Nordstrom Rack, at The Promenade at Town Center in Santa Clarita.

The 30,000-square-foot store is scheduled to open in spring 2018, the Seattle-based retailer said in a statement.

It will occupy space that held feet in the southerly portion of the former Haggen supermarket. A TJ Maxx outlet will open in the northern portion.

“While the deal almost died a couple of times, both the landlord and tenant worked tirelessly for months and were committed to seeing this deal to fruition in order to bring this long sought-after tenant to the community,” said John Cserkuti of NAI Capital, who brokered the deal.

“Santa Claritans no longer have to drive to the Topanga Mall and can shop here locally to take advantage of the great off-priced offerings that Nordstrom Rack brings,” Cserkuti said

Nearly 20 years ago, Newhall Land & Farming Co. offered Nordstrom, which had signed a letter of intent, a $32.5-million package of incentives to locate at the mall the developer built, now known as Westfield Valencia Town Center.

Newhall Land was willing to throw in $20 million but asked the city of Santa Clarita to repay that amount, with interest, out of future sales tax revenues.

Having a national retailer drives lots of sales locally, and generates sales tax revenues which account for a big chunk of the city’s budget.

Residents were in favor of locating the high-end retailer in town, but some city council members objected saying any incentive the city might pay would better be spent on schools, the fire department and police.

“We’ve been fortunate to serve customers in the Los Angeles area for many years and we’re thrilled to add a new Nordstrom Rack location in beautiful Santa Clarita,” said Karen McKibbin, president of Nordstrom Rack. “We’re excited to offer local customers a more convenient location to shop great brands at great Rack prices.”

The Promenade at Town Center is at the intersection of Magic Mountain McBean Parkways. The new Nordstrom Rack store will join more than seven existing retailers in the area, including HomeGoods, Party City, and Tilly’s.

This fall the company is also opening a new Nordstrom Rack at FIGat7th in downtown Los Angeles and relocating a full-line store to Los Angeles’ Westfield Century City.

Founded in 1901 as a shoe store in Seattle, Nordstrom operates 354 stores in 40 states, including 122 full-line stores in the United States, Canada and Puerto Rico; 221 Nordstrom Rack stores; two Jeffrey boutiques; and two clearance stores.

Promenade at Town Center is owned by Barings Real Estate Advisers, part of Barings LLC, one of the world’s largest diversified real estate investment managers.

 

 

 

About the author

Patrick Mullen

Patrick Mullen

Patrick Mullen grew up in Syracuse, N.Y., and moved to Santa Clarita from Cleveland in 2016. He covered the business side of health care for 15 years.

Santa Clarita's first Nordstrom Rack will open next spring at the Promenade at Town Center.

Nordstrom Rack to open next spring at Promenade at Town Center

Nordstrom Inc. plans to open its first store in Santa Clarita, a Nordstrom Rack, at The Promenade at Town Center in Santa Clarita.

The 30,000-square-foot store is scheduled to open in spring 2018, the Seattle-based retailer said in a statement.

It will occupy space that held feet in the southerly portion of the former Haggen supermarket. A TJ Maxx outlet will open in the northern portion.

“While the deal almost died a couple of times, both the landlord and tenant worked tirelessly for months and were committed to seeing this deal to fruition in order to bring this long sought-after tenant to the community,” said John Cserkuti of NAI Capital, who brokered the deal.

“Santa Claritans no longer have to drive to the Topanga Mall and can shop here locally to take advantage of the great off-priced offerings that Nordstrom Rack brings,” Cserkuti said

Nearly 20 years ago, Newhall Land & Farming Co. offered Nordstrom, which had signed a letter of intent, a $32.5-million package of incentives to locate at the mall the developer built, now known as Westfield Valencia Town Center.

Newhall Land was willing to throw in $20 million but asked the city of Santa Clarita to repay that amount, with interest, out of future sales tax revenues.

Having a national retailer drives lots of sales locally, and generates sales tax revenues which account for a big chunk of the city’s budget.

Residents were in favor of locating the high-end retailer in town, but some city council members objected saying any incentive the city might pay would better be spent on schools, the fire department and police.

“We’ve been fortunate to serve customers in the Los Angeles area for many years and we’re thrilled to add a new Nordstrom Rack location in beautiful Santa Clarita,” said Karen McKibbin, president of Nordstrom Rack. “We’re excited to offer local customers a more convenient location to shop great brands at great Rack prices.”

The Promenade at Town Center is at the intersection of Magic Mountain McBean Parkways. The new Nordstrom Rack store will join more than seven existing retailers in the area, including HomeGoods, Party City, and Tilly’s.

This fall the company is also opening a new Nordstrom Rack at FIGat7th in downtown Los Angeles and relocating a full-line store to Los Angeles’ Westfield Century City.

Founded in 1901 as a shoe store in Seattle, Nordstrom operates 354 stores in 40 states, including 122 full-line stores in the United States, Canada and Puerto Rico; 221 Nordstrom Rack stores; two Jeffrey boutiques; and two clearance stores.

Promenade at Town Center is owned by Barings Real Estate Advisers, part of Barings LLC, one of the world’s largest diversified real estate investment managers.

 

 

 

About the author

Patrick Mullen

Patrick Mullen

Patrick Mullen grew up in Syracuse, N.Y., and moved to Santa Clarita from Cleveland in 2016. He covered the business side of health care for 15 years.