The City of Dallas, alongside the Dallas Consortium for the Downtown Neiman Marcus, is set to meet with executives from Saks Global Properties on Wednesday to discuss the future of the iconic flagship store in downtown Dallas.
City Manager Kimberly Bizor Tolbert confirmed that the City now holds the deed for the Slaughter property, which had been central to Saks Global’s decision to close the Downtown Neiman Marcus location. "I want to thank the Dallas Consortium for the Downtown Neiman Marcus for their continued efforts to ensure ongoing operations of the Downtown flagship store. The City of Dallas now officially holds the special warranty deed for the parcel that Saks Global Properties said was needed to keep Neiman Marcus’ Downtown store open," Tolbert stated.
The Slaughter family played a crucial role in this development, donating the property to preserve the legacy and prosperity that Neiman Marcus contributes to the vibrancy of Downtown Dallas. Tolbert expressed gratitude for their involvement, emphasizing the importance of the upcoming discussions with Saks Global. "With the deed documents now in hand, I am looking forward to hosting Saks Global Properties and Investments CEO Ian Putman and his team on Wednesday morning at City Hall," she added.
Jennifer Scripps, President & CEO of Downtown Dallas, Inc. (DDI), highlighted the significance of resolving the ground lease issue. “The ground lease matter that was causing complications ‘beyond (Saks’) control’ has now officially been resolved. We are thrilled that, in the words of Saks Global CEO Marc Metrick, they see their recent acquisition of Neiman Marcus as being about ‘growing’ and ‘not about shrinking.’ Saks Global executives have also said the decision to close the Downtown store was not about operations. Together, we will ensure Neiman Marcus continues to grow and thrive in Downtown Dallas,” Scripps said.
