Home / Knowledge / News / Apparel/Garments / Saks Fifth Avenue to relocate Cincinnati Store to Kenwood
Saks Fifth Avenue to relocate Cincinnati Store to Kenwood
15
Nov '13
Saks Fifth Avenue has signed a letter of intent to relocate its downtown Cincinnati store to The Kenwood Collection, which Phillips Edison & Company is transforming from a regional destination to a super-regional retail destination drawing shoppers from three states.

The letter of intent calls for Saks to lease approximately 80,000 square feet of retail space over two levels of the building that fronts Interstate I-71. The store is preliminarily scheduled to open in the spring of 2016.

"The reinvention of The Kenwood Collection continues," said David Birdsall, president of Phillips Edison & Company's Strategic Investment Funds (SIF). "Securing a commitment from Saks Fifth Avenue is a major step in realizing our vision of creating a premiere shopping experience at The Kenwood Collection. Saks will be an anchor that allows us to attract new-to-market retailers and drive new customers to our region from the entire Midwest area."

Birdsall said The Kenwood Collection is strategically located within 90 minutes of more than five million people with $15.5 billion in spending power.

Terms of the lease are not being released. Birdsall said that the redevelopment of The Kenwood Collection, including the new Saks store, involves significant investments of private capital in the property.

"The announcement is tremendous news and a great opportunity for the community because it keeps Saks Fifth Avenue in Hamilton County," Birdsall said. "With Saks as an anchor, The Kenwood Collection will generate net new sales taxes and other economic benefits for the county and the entire region."

Phillips Edison & Company's Strategic Investment Fund purchased The Kenwood Collection -- formerly known as Kenwood Towne Place -- in July 2012 from a bank-lending group led by Bank of America. Adjacent to Kenwood Towne Centre in the northern Cincinnati suburb of Sycamore Township, The Kenwood Collection consists of 300,000 square feet of upscale retail and 200,000 square feet of Class A office space.

Current retail tenants include Crate & Barrel, The Container Store and Mitchell's Salon & Day Spa. Neace Lukens, one of the region's largest insurance companies, has agreed to lease one of the seven floors in the planned office tower.

The development and construction of Kenwood Towne Place was interrupted in 2008 due to financial problems encountered by the previous developer.

Saks Fifth Avenue


Must ReadView All

Bangladesh panel to revise minimum wage for garment workers

Apparel/Garments | On 16th Jan 2018

Bangladesh panel to revise minimum wage for garment workers

The Bangladesh labour and employment ministry recently formed a panel ...

Bruckner to supply dry finishing lines for textile project

Textiles | On 16th Jan 2018

Bruckner to supply dry finishing lines for textile project

Bruckner, a producer of high-tech lines for the dry finishing of...

Courtesy: Carrefour

Apparel/Garments | On 16th Jan 2018

Carrefour signs strategic agreement with Showroomprive

Carrefour, the second largest retail chain in the world, has...

Interviews View All

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.8%
No
13.5%
Skip
17.7%

Total Votes: 96

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.5%
No
29.2%
Skip
7.3%

Total Votes: 96

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.5%
No
9.4%
Skip
3.1%

Total Votes: 96

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.3%
No
8.3%
Skip
9.4%

Total Votes: 96


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search