“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-
“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, “We are excited to have them 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 Fifth Avenue OFF 5TH
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 70 nationwide stores and online store, saksoff5th.com and combine the two great joys of shopping: the delight of discovering the very best and the thrill of the deal. A carefully curated off-priced shopping experience, we feature highly coveted designers alongside exclusive Saks brands you won’t find anywhere else, all in a luxury-in-a-
If you would like more information on this topic please contact Melissa LaVita, Marketing Director, New England Development: