Saks Off 5th inked a 10-year lease for its first-ever Bronx location, documents filed with the city on Tuesday show.
The luxury fashion retailer plans to open a new department store at Prestige Properties & Development Company’s Bay Plaza Shopping Center on Baychester Avenue in the Bronx. The store — which is the outlet brand spun off from Saks Fifth Avenue — will span 25,000 square feet and is expected to open in the summer of 2017, a company spokesperson told The Real Deal.
Representatives Prestige were not immediately available to provide additional information.
Other stores in the shopping center include K-Mart, Little Caesars and Party City. Brokers from Cushman & Wakefield who have represented Saks on recent deals did not immediately return requests for comment.
Saks Fifth Avenue’s flagship store — which opened on Fifth Avenue at 49th and 50th street in 1924 — is something of a Manhattan icon. The chain’s outlet brand — formed in 1992 — started moving into the outer boroughs last year, when it inked a lease for a new Saks Off 5th store in Brooklyn’s Sunset Park neighborhood. That store held a grand opening earlier this month. Saks Fifth also opened its first boutique in the Financial District, at Brookfield Place, in September.
Clarification: The Saks Off 5th brand, the outlet division of Saks Fifth Avenue, is opening a store in the Bronx. Both business units are owned by Hudson Bay Companies