Two fashion retailers' first entry on the island

19 May '09

2 min read

Taubman Centers Inc announced it has received signed letters of intent from Nordstrom and Saks Fifth Avenue to anchor the planned Plaza Internacional shopping center in San Juan, Puerto Rico. This will be both fashion retailers' first entry on the island.

Taubman and New Century Development Inc of San Juan are partnering on the retail portion of the project, which is anticipated to include a hotel, casino and approximately 650,000 square feet of mall shops and restaurants, including the two department stores.

"We are pleased to announce Nordstrom and Saks Fifth Avenue's intent to anchor Plaza Internacional," said Steve Kieras, Taubman Senior Vice President Development. "We believe their presence will solidify this project as the Caribbean's preferred destination for high-end retail."

"We've had the pleasure of serving residents of Puerto Rico at our mainland stores over the years," said Erik Nordstrom, president of stores for Nordstrom. "We're thrilled to open our first Nordstrom store in San Juan and look forward to being a part of this community."

Steve Sadove, Chairman and Chief Executive Officer of Saks Incorporated, commented, "We are very excited about bringing Saks Fifth Avenue to Puerto Rico, which is a great tourist and shopping destination. We look forward to delivering our unique, world-class selection of luxury brands and experiences to the residents of and visitors to the island."

Plaza Internacional, located just minutes from the airport, will serve a trade area encompassing nearly two thirds of Puerto Rico's four million people.

Taubman Centers Inc

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