NORDTROM’S ARIZ. DEBUT SPARKS MALL’S EXPANSION
Byline: David Moin
NEW YORK — Scottsdale Fashion Square is planning a big expansion marking Nordstrom’s debut in the state, and, according to the developer, create the largest Dillard’s unit in the country.
It will also create the largest mall in the state, according to Westcor Partners, developer and manager of the mall.
“We’ve been waiting a long time to do this,” said Fred Collings, vice president of leasing for Westcor Partners. “We’re adding what will be the only Nordstrom in Arizona.”
The 225,000-square-foot unit, scheduled to open Sept. 11, 1998, is seen posting at least $70 million in first-year sales, and eventually $100 million in annual sales, Collings said.
Dillard’s will expand to a little over 350,000 square feet, from 235,000 square feet, making it the largest store in the chain, Collings noted.
Officials from Dillard’s and Nordstrom were not available to comment on the figures supplied by Westcor. Westcor declined to disclose the cost of the expansion project.
Scottsdale Fashion Square is an enclosed regional center located at the intersection of Scottsdale and Camelback Roads. In addition to Dillard’s, the mall is currently anchored by Neiman Marcus and Robinsons-May.
Westcor, a Phoenix-based real estate development and management company, is the largest shopping center developer in Arizona. It owns and operates a total of 13 million square feet of retail space, including seven regional malls.
The Scottsdale center will grow to 1.9 million square feet, from 1.3 million square feet.
In addition to the Nordstrom launch and the Dillard’s plans, 210,000 square feet of space for specialty stores is being added. No leases have been signed yet.
According to Westcor, Nordstrom has no plans to open additional units in Arizona.
Phoenix-Scottsdale, with a population of 4.5 million, is considered the seventh largest metropolitan area in the country and one the fastest growing markets in terms of housing starts, employment and population growth. Collings said the Phoenix-Scottsdale area added 60,000 residents last year.
Scottsdale Fashion Square is home to several retailers not found anywhere else in the state including J. Crew, Louis Vuitton, Bally of Switzerland and Joan & David.
Last year, the center posted $500 in sales per square foot, or a little over $300 million in total sales.