Nordstrom and Sears are buying a combined 39 stores from Kmart and Target in Las Vegans new $10 billion mall in Las Vegas, according to people familiar with the matter.
The stores will be located in the former Kohl�s Plaza Hotel and will include stores at Macy’s, J.C. Penney, Zara, Forever 21, and Home Depot, these people said.
The new Nordstrom-Sears stores will not be named, the people said, because the deals are confidential.
Sears declined to comment.
Nordstrom will pay the same price per store for all of the stores that it currently owns, including the new Nordy stores, these sources said.
Kmart and Sears both already have stores in the Las Vegas mall, which was recently renamed the Kohl���s Las Vegas.
The new Nordys stores will have a combined 1,200 stores and have an expected opening date of mid-2018, these retailers said in a joint statement.
The sale comes at a time when the retail industry is grappling with a rapid increase in online shopping, which has also pushed up prices for consumers and businesses.
The rise of Amazon.com and other online retailers has pushed the retail business toward the top of consumers� shopping lists.