PHILADELPHIA-Center City will get a new Nordstrom Rack store at 1700 Chestnut St. next year, says the landlord JEMB Realty Corp.

The 39,000-square-foot off-price retail brand store is scheduled to open in fall 2014.

The Rack carries merchandise from Nordstrom stores and Nordstrom.com, as well as specially purchased items from many of the top brands sold at Nordstrom at 30-70% off regular prices.

Located across from The Shops at Liberty Place, 1700 Chestnut St. is surrounded by a mix of fashion and specialty retailers. Nordstrom Rack will move into a completely renovated space that was originally home to department store Bonwit Teller and was most recently held by Daffy's. The store will occupy the first three floors of the historic, eight-story building.

"The addition of Nordstrom Rack to 17th and Chestnut will further enhance an already vibrant neighborhood and help it become one of the best retail corridors in downtown Philadelphia." said Morris B. Jerome of JEMB Realty

The Chestnut Street Nordstrom Rack will be the company's first location in Philadelphia. The retailer has full-line Nordstrom stores and Rack stores in nearby Cherry Hill, NJ and King of Prussia, and a Nordstrom Rack in Willow Grove.

JEMB Realty is a family-owned real estate owner, developer and manager headquartered in Manhattan.