Saks Fifth Avenue to Relocate Flagship Store at The Houston Galleria

 Simon Property Group, Inc. SPG, a global leader in retail real estate, announced today that Saks Fifth Avenue intends to open a brand new, state-of-the-art flagship store located immediately beside its existing store at the world-famous Houston Galleria. The Galleria is Houston's premier shopping and tourist attraction, Texas' largest shopping domain, and the nation's fourth largest shopping center with more than 2.2 million square feet of retail space, four department stores and over 350 other stores that generate retail sales in excess of $1.25 billion. The Galleria is jointly owned by an affiliate of SPG and Institutional Mall Investors LLC (IMI). The new two-story Saks Fifth Avenue store will have approximately 198,000 square feet of luxury shopping and will feature the best that Saks Fifth Avenue has to offer.  The new store is scheduled to open in the fall of 2015. Until that time, Saks Fifth Avenue will continue to operate in its existing store in The Galleria so its many loyal customers do not experience a business interruption. Upon the opening of the new Saks Fifth Avenue store, Simon will convert the existing Saks store into a new and vibrant two-level mall wing connecting the new Saks store, the existing Neiman Marcus store and luxury retailers.  The new two-level expansion wing will include the addition of 35 luxury and other unique retailers as well as feature restaurants.