Saks’ parent close to going Downtown

Hudson's Bay said to narrow choices to two Brookfield properties; will take 400,000 square feet

TRD New York /
Sep.September 09, 2014 08:30 AM

Hudson’s Bay Co. — the parent company of luxury department store Saks Fifth Avenue — is reportedly deciding between two possible locations for its Downtown office headquarters.

The luxury retailer is picking between two of Brookfield Office Properties’ Downtown towers: 225 Liberty Street (the former 2 World Financial Center) And 250 Vesey Street (the former 4 World Financial Center), according to the New York Post.

Hudson’s Bay is planning to occupy more than 400,000 square feet. The company is also talking to Brookfield to open a 90,000-square-foot location of Saks Fifth Avenue. At One Liberty Plaza, the company is in talks to open a Saks OFF 5th, the retailer’s outlet store.

Brookfield Place’s vacancy rate is currently 12 percent, according to the Post. About a year ago, after Merrill Lynch moved out, the vacancy rate was 59 percent. If Hudson’s Bay moves in, that number will drop to below 10 percent. [NYP] — Claire Moses

Related Article


Digital marketing firm to take 95K sf office penthouse at Grace Building

Convene inks 93K sf lease at Brookfield’s One Liberty Plaza

Brookfield puts One Liberty Plaza up for sale

EDC closes 220K sf deal at One Liberty Plaza

Brookfield refis 1 Liberty Plaza

Aon is taking even more space at Brookfield’s One Liberty Plaza

Economic Development Corp. has a lease out for 220K sf at One Liberty Plaza

National Cheat Sheet: $9.4 billion in commercial loans defaulted in May, industrial market rents surge … & more