Like the city itself, the New York City real estate market never sleeps. There is always something going on, from commercial developments to retail to residential developments and much more.
Nordstrom is one of the most well-known fashion retailers in the world, so it only makes sense for the company to spend more time and resources gaining a stronghold in New York City. The company is closing in on a lease for a Nordstrom Rack in Queens. For a company that is hoping to break into the New York City retail scene in the near future, this is a big move that could lead to a big payoff in the long run.
Nordstrom Rack is the discount division of the company; however, this should not change the perception of the benefits associated with taking its presence in the city to the next level. According to recent reports, the company is closing in on a deal that would allow it to open a store at the Shops at SkyView Center in Flushing.
This would be the first store for the company in Queens; however, the retailer recently announced plans for two such stores in Brooklyn. Along with this, the first full-line Nordstrom Store is set to open on West 57th street in New York in the near future.
Real estate in the Big Apple is hard to come by, so this developing story goes a long way in showing that Nordstrom has serious interest in becoming more involved in the area. Anybody who is interested in buying or leasing in New York should ensure their interests are protected. This can be done by seeking advice from a legal professional experienced in real estate.
Source: The Wall Street Journal, "Nordstrom Considers Opening a Store in Queens" Roland Li, Dec. 08, 2013