Saks Fifth Avenue OFF 5TH to Open at Palm Beach Outlets February 2014

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 5^th 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 5^th’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 5^th 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.