Nordstrom to open in Green Hills
Store will give neighborhood edge in luxury race
The Tennessean- April 24, 2008
That site is now occupied by a mall parking lot, which will have to be replaced before construction on the store can begin, said Hank Woerner, the mall’s general manager. Mall owner Davis Street Land Co. has already made plans to do so by adding two levels to the parking garage next to Macy’s, a project that will start early next year.“From a timing standpoint, it’s something that we just feel is right,” Woerner said. “We don’t want to crowd the 2008 holiday season.”The store will end a decade’s worth of exploration by Nordstrom in the Nashville area. In 2000, the retailer was to anchor an upscale, open-air shopping center planned in Brentwood, but Nordstrom pulled out a year later as the retail market softened.This new deal seems more likely to go through because the Mall at Green Hills is already well-established.“I think the reason (the Brentwood deal) didn’t go through is they couldn’t line up additional co-tenants,” said David Baker, a principal at the retail advisory firm Baker Storey McDonald.Nordstrom has been adding stores quickly since then. It will open eight stores this year, including its 159th location, in Detroit, on Friday.
Store gives edge to Green Hills
Meanwhile, Green Hills has emerged as the area’s center for upscale retailing. This year alone, Burberry, Juicy Couture and Kate Spade will open stores in the Mall at Green Hills, following on the heels of other recent additions such as Lacoste, Tiffany’s and Louis Vuitton.Nearby, the Hill Center at Green Hills opened last fall, with upscale grocer Whole Foods as its anchor. Another upscale grocer, Trader Joe’s, has plans to open a store near the mall as well.Adding Nordstrom’s should boost business at retailers throughout the neighborhood, tenant advisers said. Some shoppers from outside Middle Tennessee will travel into Green Hills specifically to visit Nordstrom’s boosting traffic at other businesses.“I, once a year, fly to Chicago just to go to Nordstrom,” said Peggy Sales, retail division leader in the Nashville office of Collier Turley Martin Tucker. “It’s just another level from anything we have.”Because of Green Hills’ limited space, it is unlikely that another major department store, such as Neiman Marcus or Bloomingdale’s, will follow Nordstrom into the neighborhood. But luxury boutiques, including Gucci, Eileen Fisher and Hugo Boss, could do so, squeezing into the mall and other upscale developments.Retailers such as Crate & Barrel and The Container Store might also take the Nordstrom store as a sign it should open a store in the region.“Retailers are all followers,” Baker said. “There are so many opportunities for retailers to locate stores in the United States that when a store like Nordstrom shows up on a site plan, they go, ‘I’m looking at Denver, but we ought to look at Nashville.’ ”
Store will give neighborhood edge in luxury race
The Tennessean- April 24, 2008
That site is now occupied by a mall parking lot, which will have to be replaced before construction on the store can begin, said Hank Woerner, the mall’s general manager. Mall owner Davis Street Land Co. has already made plans to do so by adding two levels to the parking garage next to Macy’s, a project that will start early next year.“From a timing standpoint, it’s something that we just feel is right,” Woerner said. “We don’t want to crowd the 2008 holiday season.”The store will end a decade’s worth of exploration by Nordstrom in the Nashville area. In 2000, the retailer was to anchor an upscale, open-air shopping center planned in Brentwood, but Nordstrom pulled out a year later as the retail market softened.This new deal seems more likely to go through because the Mall at Green Hills is already well-established.“I think the reason (the Brentwood deal) didn’t go through is they couldn’t line up additional co-tenants,” said David Baker, a principal at the retail advisory firm Baker Storey McDonald.Nordstrom has been adding stores quickly since then. It will open eight stores this year, including its 159th location, in Detroit, on Friday.
Store gives edge to Green Hills
Meanwhile, Green Hills has emerged as the area’s center for upscale retailing. This year alone, Burberry, Juicy Couture and Kate Spade will open stores in the Mall at Green Hills, following on the heels of other recent additions such as Lacoste, Tiffany’s and Louis Vuitton.Nearby, the Hill Center at Green Hills opened last fall, with upscale grocer Whole Foods as its anchor. Another upscale grocer, Trader Joe’s, has plans to open a store near the mall as well.Adding Nordstrom’s should boost business at retailers throughout the neighborhood, tenant advisers said. Some shoppers from outside Middle Tennessee will travel into Green Hills specifically to visit Nordstrom’s boosting traffic at other businesses.“I, once a year, fly to Chicago just to go to Nordstrom,” said Peggy Sales, retail division leader in the Nashville office of Collier Turley Martin Tucker. “It’s just another level from anything we have.”Because of Green Hills’ limited space, it is unlikely that another major department store, such as Neiman Marcus or Bloomingdale’s, will follow Nordstrom into the neighborhood. But luxury boutiques, including Gucci, Eileen Fisher and Hugo Boss, could do so, squeezing into the mall and other upscale developments.Retailers such as Crate & Barrel and The Container Store might also take the Nordstrom store as a sign it should open a store in the region.“Retailers are all followers,” Baker said. “There are so many opportunities for retailers to locate stores in the United States that when a store like Nordstrom shows up on a site plan, they go, ‘I’m looking at Denver, but we ought to look at Nashville.’ ”
No comments:
Post a Comment