Nordstrom Rack Anchoring 50,000-SF Expansion

SOUTHLAKE, TX-Ground will break in October on a 50,000-sf phase two for the Shops of Southlake, with Nordstrom Rack lined up to anchor the expansion. The deal has delivered the fourth Texas location for the Seattle-based unit of Nordstrom Inc.’s off-price retail division.

The 178,500-sf Shops of Southlake at 1200 and 1470 E. Southlake Blvd., is 89% leased, according to David Palmer, executive vice president and head of development in Dallas for Cencor Realty Services. The project, owned by a Cencor partnership, opened in December 2006 with Central Market as its anchor.

“Just like there aren’t many Central Markets, there aren’t many Nordstrom Racks,” Palmer says. Nordstrom Rack has leased 35,000 sf of the 50,000-sf addition, getting a spot beside DSW Warehouse and 7,000 sf of spec retail at its side. The balance of phase two is a 9,000-sf building at the hard corner of Carroll Avenue and Southlake Boulevard.