January 15, 2014 1:11 pm
Updated: January 21, 2014 4:40 pm

Nordstrom opening flagship store in Toronto Eaton Centre

This May 9, 2013 photo shows a Nordstrom sign at a shopping mall in Brea, Calif.

AP Photo/Jae C. Hong
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TORONTO – American high-end fashion retailer Nordstrom is coming to downtown Toronto.

The Seattle-based company announced Wednesday it will open its flagship store in Toronto Eaton Centre, one of Canada’s most iconic shopping centres.

Construction of the three-level, 213,000-square-foot store will begin in March and is expected to be ready by Fall 2016.

It is the sixth Nordstrom store north of the border announced by the retailer as it continues its expansion into Canada.

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The store will occupy the space being vacated by Sears, which announced in November it was closing five stores, including its flagship location in Toronto Eaton Centre.

READ MORE: Sears Canada to close 5 stores including Eaton Centre flagship location

In a $400 million deal, Sears said it was selling the leases on five department stores as the company pushes ahead with a broader effort to revamp the company.

Following Sears’ announcement, speculation swirled over what retailer would occupy the Toronto Eaton Centre space, a high-profile complex in the heart of downtown Toronto and a tourist destination.

Nordstrom was seen as the obvious choice by retail experts.

“The American brands still like Canada, are interested in coming to Canada,” said John Crombie, senior managing director of national retail services at Cushman and Wakefield, following the Sears announcement in November.

READ MORE: A flood of US retailers chasing trickle of consumer spending growth

Cadillac Fairview manages Toronto Eaton Centre as well as prominent malls in Vancouver, Calgary and Ottawa that will have Nordstrom stores.

“Our properties were the first to welcome Nordstrom to Canada, and we’re thrilled to continue our partnership with Nordstrom,” said John Sullivan, Cadillac Fairview’s president and chief executive.

Hudson Bay Company announced last year it plans to convert its store at Yonge and Bloor Streets in Toronto into a Saks Fifth Avenue. The high-end retailer will compete head-on with Holt Renfrew’s flagship store only blocks away.

With files from The Canadian Press

© 2014 Shaw Media

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