Saks Global has sold a Neiman Marcus store that anchors the Willow Bend shopping center in Plano, Texas, in the Dallas area. The location will operate until January 2027, the company said by email.
The developer acquiring the property also purchased the Macy’s anchor last year, after that department store announced a slew of closures, per a February press release. The mall is being revamped into a mixed-use center and will be renamed “The Bend.”
“The sale was a mutual decision that allows the developer to bring its vision for the area to life, building on the retail foundation with the introduction of new residential, dining and entertainment uses,” a Saks Global spokesperson said in an emailed statement. “This also provides our company with the opportunity to strategically reinvest in areas of our business that drive growth and position the company for long-term success.”
Saks Global said earlier this year that it wouldn’t close any stores. On Thursday, the spokesperson said “there are currently no plans to reduce our store portfolio on a broader scale,” but that the company continues to “evaluate our store footprint and, as in this case, may determine it necessary to reformat or close a store.”
Saks Global battled the city of Dallas earlier this year when it abruptly announced the closure of the Neiman Marcus downtown store. After much back and forth, including the city’s purchase of a small plot of land underneath the building, that location remains open at least through the holidays this year.
“Dallas-Fort Worth continues to be an important market for the company,” the Saks Global spokesperson said Thursday. “We are continuing to work in collaboration with the City of Dallas on a potential reimagination of the Neiman Marcus Downtown Dallas store, and are making great progress on the upcoming Neiman Marcus NorthPark transformation.”
As the Willow Bend store winds down, Saks Global will offer employees there other opportunities in the area whenever possible or they will “be offered appropriate separation packages,” the company said.