January 15, 2014 / 5:40 PM / in 4 years

Nordstrom to take over flagship Sears space in Toronto

TORONTO, Jan 15 (Reuters) - Nordstrom Inc, is opening a store in the heart of Canada’s largest city in fall 2016, the U.S. luxury retailer said on Wednesday, taking over the flagship space soon to be vacated by Sears Canada Inc .

The Seattle-based company will open a three-level, 213,000-square-foot full-line department store at Toronto Eaton Centre, one of the top tourist attractions in the city and minutes from Canada’s financial center. The store will be Nordstrom’s sixth in Canada, with construction set to begin in March.

Nordstrom opens its first Canadian store in Calgary this fall.

Struggling Sears announced last October that it was closing its flagship location along with four other stores in a C$400 million ($365.66 million) deal. The lease termination freed up highly coveted commercial real estate, with Nordstrom a leading candidate to take over the space.

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