The Center Gains Nordstrom Rack

LAGUNA NIGUEL, CA—GlobeSt.com has learned exclusively that Nordstrom Rack will open a seventh Orange County location this spring after signing a 10-year lease agreement at the Center at Rancho Niguel, a retail center comprising more than four contiguous city blocks here. The tenant is the off-price clothing outlet line of popular retailing giant Nordstrom.

Colliers International’s VP Terrison Quinn and Casey Mahony represented owner Buie Stoddard Group in the lease negotiations, while Jeff Nichols of Western Retail Advisers represented the tenant. While the value of the lease was not disclosed, Colliers reported that the retailer would occupy 29,500 square feet at the nearly full center, which is located at the intersection of Crown Valley Pkwy. and Greenfield Dr.