Nordstrom's commitment to SouthPark was stronger than it was with either of the three other cities, analysts say, because the retailer has an estimated 10-year lease with SouthPark developer Trammell Crow. The commitment to Cincinnati consisted only of a letter of intent. There was no written commitment to Pittsburgh. Cincinnati and Pittsburgh had offered multimillion incentive packages to lure the retailer.

Charlotte leaders were hoping to convince Nordstrom to open its doors downtown at the city's old convention center, but the chain preferred the SouthPark location.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.