Brixmor Property Group adds Nordstrom Rack and J.Crew Mercantile to Centre at Preston Ridge near Saks Fifth Avenue OFF 5th
NEW YORK, July 25, 2016 – Brixmor Property Group (NYSE: BRX) (“Brixmor”), owner and operator of the largest wholly owned U.S. portfolio of grocery-anchored shopping centers, today announced it has strengthened its tenant offering at the Centre at Preston Ridge shopping center in Frisco with the addition of Nordstrom Rack and J. Crew Mercantile. These new retailers join Saks Fifth Avenue OFF 5TH, which opens in August, reflecting the growth of value-driven retail.
J. Crew Mercantile plans to open in 6,000 square feet in fall 2016, and Nordstrom Rack is scheduled to open a 33,000-square-foot store in fall 2017.
“Off-price retail is a rapidly growing segment that is highly desired by our consumers,” said Brian Finnegan, executive vice president of leasing for Brixmor Property Group. “Our open-air centers are well-suited for these retailers, and we are seeing robust expansion in this segment. Adding high-quality retailers such as Nordstrom, Saks Fifth Avenue and J. Crew Mercantile allows us to further strengthen our centers’ appeal and to better meet the needs of the communities we serve.”
Preston Ridge is located at the corner of Gaylord Parkway and Preston Road, just northwest of where the Dallas North Tollway and Sam Rayburn Tollway meet. This 780,000-square-foot power center is anchored by top national retailers, including T.J. Maxx, Marshalls, Ross Dress for Less, Ulta Beauty, Stein Mart and DSW, and a strong lineup of restaurants. The center serves a densely populated market of 268,000 residents within five miles with an average household income of $121,000. For leasing information, contact Selina Planty at email@example.com.
About Brixmor Property Group
Brixmor owns and operates the nation's largest wholly owned portfolio of grocery-anchored community and neighborhood shopping centers, with 518 properties aggregating approximately 87 million square feet of gross leasable area located primarily across the top 50 U.S. metro markets. Brixmor leverages its national footprint, local market knowledge and operational expertise to support the growth of its retail tenants. The Company is focused on maximizing the value of its portfolio through strategic leasing and anchor space repositioning / redevelopment initiatives. Headquartered in New York City, the Company is the largest landlord to The TJX Companies and The Kroger Company.
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