01/15/2014 10:43 EST | Updated 01/25/2014 04:01 EST

Nordstrom To Open Retail Location At Toronto Eaton Centre

A Los Angeles police investigators carries evidence bags from a Nordstrom Rack store at Howard Hughes Center near Los Angeles International Airport Friday, Jan. 11, 2013. Robbers stabbed a clothing store employee and sexually assaulted another during an hours-long hostage drama that ended early Friday with a police SWAT team surging into the shop and rescuing 14 workers. No robbers had been found by mid-morning. The ordeal began at about 11 p.m. when a man called 911 and reported that his girlfriend had called and said there were gunmen in the store, Lt. Andy Neiman said. (AP Photo/Reed Saxon)

Toronto shopaholics have a new reason to celebrate: Nordstrom is opening a retail location at the Toronto Eaton Centre!

The American luxury department store, which is rolling out new locations in Canada in the next couple of years, expects to open its doors in the Toronto mall come Fall 2016, taking over from current tenant, Sears.

The company made the announcement on Wednesday and said that construction of the approximately 213,000 square-foot, three-level store is set to begin in March 2014. The overall redevelopment of the Sears space will cost $400 million.

Other Nordstroms set to open in Canada include locations in Toronto's Yorkdale Centre and Sherway Gardens, Vancouver's Pacific Centre, Ottawa's Rideau Centre and Calgary's Chinook Centre with more planned in the coming years including Nordstrom Rack stores.

The retailer is the latest luxury department store planning to open up shop in Canada; Saks Fith Avenue is also opening up a flagship store at the Hudson's Bay Bloor Street location in Toronto.

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