Super exciting news for Downtown LA’s growing retail scene! One of the biggest names in fashion retail has committed to opening a new store in Downtown LA, which has been experiencing an explosion of new development not seen since the 1920s construction boom. I am so excited to announce that the very popular Nordstrom Rack has just finalized a lease to open their first downtown store at the FIGat7th shopping center located in the heart of the Financial District.
Nordstrom Rack will replace the shuttered Sport Chalet space that vacated last spring after the entire sports chain went out of business. You might remember that “Nordstrom Rack” was in our top 3 wish list last year to replace Sport Chalet (the other two were Best Buy and Bed Bath and Beyond), so I’m so glad that actually came true. What’s also good news is that the massive 27,000 square foot space that Nordstrom Rack will occupy — located on the lower level next to the Taste Food Hall — has not sat vacant for long (less than a year) showing that demand for high-quality retail spaces in downtown is growing stronger every year.
“We’ve long been on the lookout for the right location to bring Nordstrom Rack to Downtown Los Angeles, and we couldn’t be more excited to join FIGat7th,” said Karen McKibben, president of Nordstrom Rack, in a prepared statement. “We feel this new location will provide better convenience for our customers who live and work downtown.”
The new Nordstrom Rack will join a strong mix of other big anchors at FIGat7th including Target, Zara, H&M, and Gold’s Gym, which will continue to help expand the shopping options here in downtown where retail has lagged behind restaurants. The Downtown LA Nordstrom Rack, an off-price retail division of Nordstrom, will carry a wide variety of trendy apparel, accessories, and shoes for both men and women at discounted prices from 30-70% off regular prices.
“Nordstrom Rack is the ideal addition to FIGat7th’s premier tenant mix,” said Bert Dezzutti, executive vice president of the western region for Brookfield, which owns FIGat7th. “Their on-trend merchandise appeals to our entire customer base, solidifies FIGat7th as the one-stop shopping destination for downtown, and will encourage even more cross-shopping throughout the center.”
The new Nordstrom Rack in Downtown LA is expected to open by fall 2017.