High-scale American fashion retailer Nordstrom confirmed on Thursday that it is heading to the Rideau Centre and will fill the top two levels of the soon-to-be-vacated Sears Canada (TSX:SCC) store.
The Rideau Centre (Google Steet View image)
Partnering with Rideau Centre landlord Cadillac Fairview, Nordstrom will expand into four of the commercial real estate investor’s Canadian malls in Ottawa, Toronto, Calgary and Vancouver.
"It's exciting to finally have this opportunity to better serve our Canadian customers closer to home and we can't wait to open our doors," stated president Erik Nordstrom in a company release.
"Cadillac Fairview has been instrumental in helping us get started in Canada, and we're thrilled to be part of these premier shopping destinations.”
Nordstrom will open its doors to Ottawa in spring of 2015 with its new 157,000-square-foot location. Sears has a footprint of 240,000 square feet spanning three storeys in the mall.
Rideau Centre's general manager Cindy VanBuskirk would not comment on who will fill the bottom floor of the Sears store.
"The additional space will be leased to other best in class retailers, but it’s premature to comment," Ms. VanBuskirk said.
Nordstrom also announced it will continue exploring opportunities to open additional stores as part of the company's future expansion into Canada.
“Nordstrom is an excellent fit for all four locations,” stated Cadillac Fairview president and CEO John Sullivan. “Not only will they transform our shopping centres, but enhance the Canadian retail landscape as a whole.”
Rumours of the company’s Canadian expansion began to swirl earlier this year with speculations that Nordstrom would take over three locations that Sears will leave this fall.
In March, Sears announced it would be closing its 240,000-square-foot Rideau Centre store by the end of October, along with locations in Vancouver and Calgary.
Founded in 1901 as a shoe store in Seattle, Nordstrom is now one of the leading fashion specialty retailers in the United States with 234 stores across the country and an online boutique.
Cadillac Fairview is wholly owned by the Ontario Teachers’ Pension Plan.