•Same-store sales up are up 20 percent since October, when Nordstrom and more than 35 other shops opened
•Cutting-edge Swedish retailer H&M signs a lease, adding to the center’s fashion forward line-up
Irvine Spectrum Center’s evolution from a ground-breaking entertainment center to a full-service regional shopping destination takes another leap forward July 23 when Target opens adjacent to Nordstrom, marking the first pairing anywhere of the two retail powerhouses.
Internationally acclaimed Swedish retailer H&M will also join the tenant line-up next year, adding to the growing list of fashion-forward retailers serving Orange County’s sophisticated customers.
“We could not have picked a better location to open our first store next to a new Nordstrom,” said Bob Thompson, Senior Vice President – Western Region of Target. “Orange County is one of the most dynamic retail markets in the nation and we are certain that our guests will find that Target, with our commitment to stylish innovations at great prices, will complement Nordstrom and the other stores at the center.”
Target’s opening follows a flurry of new store openings at Irvine Spectrum Center. The center, now with 1.15 million square feet, welcomed more than 35 new retailers, including Nordstrom, along with a five-story, 2,500-space parking structure, over the past year.
Other new stores that have recently opened include The Levi Store, Bandolino, Anthropologie, bebe, White House/ Black Market, Ann Taylor Loft, adidas Sport Performance Store, Old Navy, Aeropostale, Brighton Collectibles, and numerous others. Also opening this summer: This Little Piggy Wears Cotton, Supercuts and Saleen Performance Center.
“Irvine Spectrum Center has emerged as one of the most convenient and popular shopping destinations in Southern California,” said Keith Eyrich, President of The Irvine Company Retail Properties. “More than 11 million people visit each year to shop, dine and be entertained, or simply stroll the paseos and relax in the courtyards.”
“There’s no question that the community has embraced the expanded retail offerings at the center,” Eyrich added. “Same-store sales are up nearly 20 percent. Foot traffic is up in the double digits. The positive trend will only continue with the addition of Target. The Orange County retail market continues to outperform the nation, and we remain bullish about its prospects for continued success. We benefit from low unemployment, steady job growth and a great climate.”
Minneapolis-based Target serves guests at 1,418 stores in 47 states nationwide by delivering today’s best retail trends at affordable prices. Target is committed to providing guests with great design through innovative products, in-store experiences and community partnerships. Whether visiting a Target store or shopping online at Target.com, guests enjoy a fun and convenient shopping experience with access to thousands of unique and highly differentiated items. Target (NYSE:TGT) gives back more than $2 million a week to its local communities through grants and special programs. Since opening its first store in 1962, Target has partnered with nonprofit organizations, guests and team members to help meet community needs. For more information visit www.target.com.
Irvine Spectrum Center, owned by The Irvine Company, is located where the
San Diego (405) Freeway and the Santa Ana (5) freeways meet in Irvine. Irvine Spectrum Center offers a unique mix of shopping, dining and entertainment in a beautiful Spanish-themed atmosphere, including Edwards Irvine Spectrum 21 Cinemas and more than
120 specialty stores, restaurants and entertainment venues. For more information call (949) 753-5180 or visit www.ShopIrvineSpectrumCenter.com.