WEST
PALM BEACH, FLORIDA
(September 26, 2013) - Saks Fifth Avenue OFF 5TH, featuring a distinctive
assortment of luxury brands at great prices, will be opening at Palm Beach
Outlets in February 2014. The
25,000+ square foot store will feature a broad selection of womenswear,
menswear, children's clothing, fine jewelry, beauty products, shoes, handbags
and sunglasses. Saks Fifth Avenue OFF 5th is known for its engaging environment, abundant exclusives, remarkable
savings and assortments from the most notable names in fashion, allowing
customers to find the best of both worlds: the thrill of a deal and the
confidence in finding high quality products, on-trend, and right now.
“We are thrilled to
continue to expand Saks Fifth Avenue OFF 5TH with the new store at the Palm
Beach Outlets. New England Development and Eastern Real Estate have designed a
prime location for outlet shopping,” stated Robert Wallstrom, President of Saks
Fifth Avenue OFF 5TH. “Our new store will give Palm Beach customers the
opportunity to discover more designer brands, more savings, and more service
options unlike any other outlet experience.”
The new store will be modeled after Saks
Fifth Avenue OFF 5th’s luxury-in-a-loft store design. Since its debut in 2008, the innovative
layout has been well received and set a new standard in outlet shopping. The
design maximizes efficiency and flexibility, enabling easy changes in the
general layout. The new store will be bright and uncluttered, with no hard
aisles and one consistent, hard-surface floor throughout. All fixtures will be
on casters, ensuring ease in movement, and all hardware will be interchangeable
between fixtures.
“Saks Fifth Avenue OFF 5th stores
are considered among the finest outlets in the industry today,” stated Stephen
R. Karp, Chairman of New England Development. He continued, “Saks Fifth Avenue
is synonymous with American fashion and we are excited to have this iconic
brand as one of our anchor stores.”
Palm Beach Outlets, located
immediately off Interstate 95 on Palm Beach Lakes Boulevard in West Palm Beach,
will feature nearly 100 outlet stores, as well as an adjacent retail center
with a dynamic mix of national tenants including Nordstrom Rack and Whole Foods
Market. Construction is moving
along at a rapid pace in preparation for the grand opening in mid February
2014. Over 90% of the outlet center is committed and New England Development
anticipates close to 100% projected occupancy by the Palm Beach Outlet’s grand
opening. Palm Beach Outlets is being developed by a partnership of New England
Development and Eastern Real Estate.
About
New England Development
New
England Development is one of the nation’s premier real estate development and
management companies, with more than 50 million square feet of retail,
commercial and residential space to their credit. Founded by Chairman and Chief Executive Officer Stephen R.
Karp, New England Development has 35 years of retail development, leasing and
management experience and is one of the major mall developers in the
Northeast. Acclaimed for some of
the country’s most widely recognized and successful regional malls, New England
Development is also known for developing mixed-use complexes featuring retail,
residential, hotel and office uses; outlet centers; power centers; marinas;
golf courses; resort and convention hotel properties; and even an entire
planned community.
Eastern
Real Estate
Eastern
Real Estate is a privately held commercial real estate firm with expertise in
capital investment, real estate development, and asset management. The Company
was founded and is led by principals Daniel J. Doherty III and Brian J. Kelly.
During their thirty year careers Doherty and Kelly have had direct involvement
in over 30 million square feet of transactions, building Eastern a well-earned
reputation for industry leading insight and unwavering professional integrity.
Saks Incorporated
Saks Incorporated
currently operates 41 Saks Fifth Avenue stores, 70 Saks Fifth Avenue OFF 5TH
stores and saks.com. Saks Fifth Avenue OFF 5TH is a world-class, full-service
destination for value-priced clothes and accessories for men, women, children
and the home. The retailer's stores combine the two great joys of shopping: the
delight of finding the very best and the thrill of the deal. Highly coveted
designers are displayed alongside exclusive Saks brands you won't find anywhere
else, all in a luxury-in-a-loft environment that can showcase an emerging trend
one day and a great deal the next. Saks Fifth Avenue OFF 5TH simply offers more
style, more savings and more service than any other value retailer.
If you would like more
information on this topic please contact Melissa LaVita, Marketing Director,
New England Development: 617.299.2575.
To schedule an interview, please call Linda Soper at (612) 308.4159 or
email: linda@lindalanemarketing.com.