The Real Deal New York

David Simon’s second coming?

The "death" of the anchor tenant breathes life into mall giant amid changing market

May 17, 2016 09:00AM
By Katherine Clarke

David Simon

David Simon

From the special retail issue: When Saks Fifth Avenue, one of the great old American department stores, shuttered its location at the Shops at Riverside in Hackensack in 2014, the closure left a major hole in the fabric of the New Jersey property.

The Saks branch had been the centerpiece of the mall since its 1977 debut to great fanfare as an anchor tenant. For many years the store was a major draw for New Jersey shoppers who wished for a taste of Manhattan glamour at their doorsteps. In the years following the financial crisis, Saks’ glory days were gone; sales lagged and the store was besieged by competition from rivals such as Bloomingdale’s and Neiman Marcus. [more]

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