Partridge Creek Fashion Park will be a Unique Open-Air Shopping Destination
BLOOMFIELD HILLS, Mich., Oct. 18 /PRNewswire-FirstCall/ -- Taubman Centers, Inc. (NYSE:TCO) today announced that Nordstrom, Parisian and MJR Theatres will anchor Partridge Creek Fashion Park, an open-air shopping center Taubman is developing in Clinton Township, Michigan. The approximately 600,000 square foot center is scheduled to open in the fall of 2007, with Nordstrom opening in spring 2008.
(Logo: http://www.newscom.com/cgi-bin/prnh/20051005/TAUBMANLOGO ) Partridge Creek Fashion Park, located on a 55-acre site along the south side of M-59 between Garfield and Romeo Plank, will feature the two anchor department stores, 14-screen multiplex cinema, several sit-down restaurants and up to 90 specialty retailers.
The center's approximately 129,000 square foot, two-level Nordstrom will be the Seattle-based retailer's third Full-Line Store in Michigan. Nordstrom entered the market in 1996 at the Somerset Collection in Troy, and will open at Taubman's Twelve Oaks Mall in Novi in fall 2007. Nordstrom offers a large selection of quality fashion apparel, shoes and accessories for men, women and children. Merchandise ranges from classic to contemporary as well as exclusive couture designs.
Parisian will open its third metro-Detroit location at Partridge Creek Fashion Park. The 120,000 square foot, two-level store will showcase Parisian's superior level of personalized service, unique store design, special amenities, and distinctive merchandise offerings.
MJR Theatres, based in Oak Park, Mich., will build a 14-screen, 55,749 square foot movie theatre complex. The state-of-the art theatres will feature 2,500 stadium-style seats. All auditoriums will have digital sound and at least four will operate with digital projection systems.
The shopping center's park-like setting and indigenous architecture are intended to complement the spirit of Macomb County, one of the state's fastest growing areas. Design elements referencing orchards, flower gardens and the county's historic communities will create a unique, welcoming environment. Amenities will include two bocce ball courts (suitable for international competition), an oversized chess board with two-foot-tall game pieces, an outdoor children's play area, outdoor flat screen televisions and a central gathering place featuring a large stone fireplace. The shopping center will have three fountains including a pop jet fountain where children of all ages can cool off on a hot summer day. Partridge Creek Fashion Park will also be "dog-friendly." "Partridge Creek Fashion Park will be the first regional shopping center built in Macomb County in 30 years," said Robert S. Taubman, chairman, president and CEO of Taubman Centers. "Nordstrom, Parisian and MJR Theatres get us off to a great start with our merchandising and leasing efforts. We're confident the center, with its unique physical environment and distinctive stores, will complement the area's existing retail, dining and entertainment opportunities. The Fashion Park concept, which we created, has been enthusiastically received by shoppers and retailers in other parts of the country. It will be a big hit here as well." "We are thrilled to be welcoming Nordstrom, Parisian and MJR Theatres to Clinton Township," said Township Supervisor Robert J. Cannon. "Partridge Creek Fashion Park is the type of smart-growth development initiative we believe will help strengthen the Township's economic future, while contributing to our community's quality of life. Taubman clearly shares our commitment to creating a distinctive, truly first-class project in the heart of our region's primary growth corridor." Taubman is working with Clinton Township authorities to finalize development planning and timetables. After groundbreaking, which is scheduled to occur in November, a 24-month construction period is anticipated. The project will create 1,500 construction jobs and 2,000 permanent jobs after grand opening.
"We're excited about expanding our presence in the northeast area of Detroit," said Erik Nordstrom, executive vice president of Full-Line Stores for Nordstrom. "We have been privileged to be a part of the community for over nine years since opening at Somerset Collection in Troy. With our upcoming opening at Twelve Oaks Mall in Novi and now Nordstrom at Partridge Creek Fashion Park, we look forward to more conveniently serving customers in the greater Detroit area." "We have looked for the right opportunity to expand our Parisian presence in metropolitan Detroit, and the new Partridge Creek development is a perfect setting for our new showcase store," said Toni Browning, president and chief executive officer of Parisian. "This will be our third Parisian store in the area, and our other locations in Rochester Hills and Livonia have been very successful for us. Our new store will incorporate many distinctive and innovative concepts that will create a very unique and exciting shopping experience. We look forward to bringing the specialty brands, fashion authority, and premier service for which we are so well known to even more customers in metropolitan Detroit." "I am excited about MJR coming to Partridge Creek," said Michael Mihalich, owner of MJR Theatres. "The theater complex will be the ultimate entertainment venue in an upscale retail environment. This new location will bring the number of MJR Theatre complexes to seven with a total of 116 screens." Taubman Centers, a real estate investment trust, owns and/or manages 23 regional and super regional shopping centers in 11 states. The company is headquartered in Bloomfield Hills, Mich. Additional information about Taubman centers can be obtained from the company's website at http://www.taubman.com/ .
Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with 154 US stores located in 27 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 97 Full-Line Stores, 49 Nordstrom Racks, five Faconnable boutiques, one freestanding shoe store and two clearance stores. Nordstrom also operates 32 international Faconnable boutiques in Europe. Additionally, Nordstrom serves customers through its online presence at http://www.nordstrom.com/ and through its catalogs. Nordstrom, Inc. is publicly traded on the NYSE under the symbol JWN.
Parisian, a division of Saks Incorporated (NYSE:SKS), operates 41 stores throughout the Southeast and Midwest. Parisian stores carry a wide selection of fashion apparel, shoes, and accessories for the entire family, as well as cosmetics and decorative home and specialty gift items. In addition to brands typically found at traditional department stores, Parisian stores carry brands such as Karen Kane, BCBG, Garfield & Marks, Tahari, Robert Talbott, Tommy Bahama, Joseph Abboud, Hugo Boss, Callaway, Cutter & Buck, Bobbi Brown, Laura Mercier, Trish McEvoy, MAC, Donald Pliner, Stuart Weitzman, Kate Spade, Ferragamo, Via Spiga, and Brighton, which are typically carried only at specialty stores.
MJR Theaters, which currently operates six theatre complexes totaling 102 screens in Southeast Michigan, is based in Oak Park, Michigan. The privately- held company is owned by entrepreneur Michael Mihalich.
This press release contains forward-looking statements within the meaning of the Securities Act of 1933 as amended. These statements reflect management's current views with respect to future events and financial performance. Actual results may differ materially from those expected because of various risks and uncertainties, including, but not limited to changes in general economic and real estate conditions, changes in the interest rate environment and availability of financing, and adverse changes in the retail industry. Other risks and uncertainties are discussed in the company's filings with the Securities and Exchange Commission including its most recent Annual Report on Form 10-K. http://www.newscom.com/cgi-bin/prnh/20051005/TAUBMANLOGO http://photoarchive.ap.org/ DATASOURCE: Taubman Centers, Inc.
CONTACT: Media: Karen MacDonald, +1-248-258-7469, , Investors: Barbara Baker, +1-248-258-7367, , both of Taubman Centers, Inc.; Media: Deniz Anders of Nordstrom, Inc., +1-206-373-3038; Media: Robin B. Hansen of MJR Theatres, +1-248-548-8282; or Media/Investors: Julia Bentley of Parisian, +1-865-981-6243 Web site: http://www.taubman.com/ http://www.nordstrom.com/
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