It turns out that patience is virtue for both Nordstrom and Extell Development. When the retailer announced Thursday that it would be opening a 285,000-square-foot, 7-story store at 225 West 57th Street some time in 2018, it represented the culmination of ten to 15 years of searching. Meanwhile, developer Gary Barnett had been quietly assembling the parcel where the store will open for almost a decade.
In the end, the deal was pulled off thanks to a team from Jones Lang LaSalle, the firm’s Derek Trulson telling The Commercial Observer that real estate expertise, not retail expertise, paved the way. Read More