Saturday, May 28, 2005
Nordstrom knocking, again: Tony Seattle retailer's name resurfaces as possibility for Pittsburgh region
Ted S. Warren, Associated Press
Shoppers use a skybridge to enter a Nordstrom store in downtown Seattle.
By Pamela Gaynor, Pittsburgh Post-Gazette
Over the years, it's been courted as a centerpiece for Downtown Pittsburgh redevelopment, it's been looked at as a possible alternative draw at the North Side sports stadiums and it's been mentioned as a possible anchor for malls in Robinson and Cranberry.
Now Nordstrom apparently is in a regional developer's sights again.
Indianapolis-based Simon Property Group, owner of three local malls, showed off a site plan at the shopping center industry's spring convention this week that featured one of the Seattle-based retailer's stores as a new anchor tenant for Ross Park Mall.
Whether a lease is imminent or even in the works is anybody's guess.
No agreement has been announced and a spokeswoman for Simon Properties declined comment. A spokeswoman for Nordstrom did not respond to phone calls.
But the appearance of the Nordstrom name -- known in retail circles for bend-over-backwards customer service -- set off a bit of a buzz among Pittsburgh leasing agents who attended the show.
"It was the basis for conversation because a Nordstrom at Ross Park Mall would certainly impact a lot of tenants" and prospects, said Robert E. Gold, a broker for CB Richard Ellis/Pittsburgh.
"It could attract tenants" including some upscale ones that "might not otherwise" consider Ross Park or even the Pittsburgh region, he said.
Gold said he was surprised to see Simon so publicly show a site map bearing the Nordstrom name before any agreement was announced.
Maps showing prospects that are in discussions sometimes are shared confidentially with parties in the industry, but rarely would be aired at events that news organizations attend, he said. By touting prospect that's in discussions, a retail center owner or developer tips its hand to rivals.
But to see the Nordstrom name surface again in a region that it explored earlier didn't surprise retail analysts.
Following a financial slump several years ago, Nordstrom has turned around and "built a solid foundation to grow square footage again," said Jennifer Black, an Oregon-based retail analyst who once worked for Nordstrom.
In addition, retail analysts expect the planned merger of Federated Department Stores, whose holdings include Macy's, with May Department Store Co., whose holdings include Kaufmann's, to result in store consolidations, putting myriad desirable locations up for grabs.
"From a site location perspective, we've been waiting to see ... if there are sites that come up in places [Nordstrom] wanted to be," Black said.
Both Macy's and Kaufmann's operate stores at Ross Park Mall and at Simon Properties' two other local shopping venues, South Hills Village and Century III Mall. Ross Park, which serves shoppers from some affluent North Hills communities, is the kind of location upscale Nordstrom traditionally seeks.
In the past, the retailer has had serious discussions with numerous local interests.
As recently as late 1999, Nordstrom looked at Downtown possibilities as part of Mayor Murphy's since failed Fifth and Forbes redevelopment plan. At the time, Nordstrom also was looking at sites in Robinson and Cranberry, and its vice president of real estate said he didn't rule out the possibility of opening multiple outlets in the region.
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