Saks Fifth Avenue OFF 5TH Signs With Paragon Outlet Partners Retail Developer Announces First Anchor Store for Paragon Outlets Twin Cities at Eagan
BALTIMORE, Dec. 3, 2012 /PRNewswire/ -- Paragon Outlet Partners, a retail real estate development firm headquartered in Baltimore, announced today Saks Fifth Avenue OFF 5TH will open a 28,000 square foot anchor store at its newest outlet center, Paragon Outlets Twin Cities at Eagan, a planned open-air shopping destination serving the Greater Minneapolis/St. Paul region slated to open in November 2014.
Featuring approximately 100 leading designer and top brand names and a gross leasable area of just over 400,000 square feet, Paragon Outlets Twin Cities at Eagan, will be the first major new development within the Cedar Grove Redevelopment District in the city of Eagan.
"We are thrilled Saks Fifth Avenue OFF 5TH will open an anchor store at Paragon Outlets Twin Cities at Eagan," said Paragon Outlet Partners Principal Nicholas King. "As we create a dominant outlet center in the Twin Cities market, the addition of Saks Fifth Avenue OFF 5TH represents our steadfast commitment to offer customers convenient access to a collection of the world's most iconic brands at dramatic savings."
Paragon Outlet Partners will begin construction of Paragon Outlets Twin Cities at Eagan, in the spring of 2013. The ground-up project is expected to bring about 400 construction jobs along with 1,500-2,000 permanent jobs to the market when it celebrates its grand opening in November 2014.
According to Robert Wallstrom, President of Saks Fifth Avenue OFF 5TH, "We recognize the opportunity and growth potential in the Paragon Outlets Twin Cities at Eagan. This location will enable us to continue to deliver our distinct merchandise offerings and service to area residents and visitors in the Minneapolis/St. Paul marketplace. We're delighted to become part of Paragon Outlets Partners' newest outlet shopping destination."
For more information about Paragon Outlets properties, please contact Kelvin Antill with development inquiries and Nicholas King with leasing inquiries at 410.856.1818.
About Paragon Outlet Partners
Headquartered in Baltimore, Paragon Outlet Partners is a commercial real estate development firm operated by a seasoned team of former Prime Retail executives with outlet centers serving the Dallas/Fort Worth and San Francisco regions along with a retail and entertainment complex in the Orlando market. Its parent company, The Lightstone Group, is one of the largest privately held real estate companies in the U.S. with a diversified portfolio of retail, hospitality, office, industrial and residential real estate assets, including more than 8.1 million square feet of commercial space and more than 11,000 multi-family units in 19 states. Paragon Outlet Partners' upscale merchant portfolio includes top designer and leading brand names Saks Fifth Avenue OFF 5TH, Last Call by Neiman Marcus, Bloomingdale's, The Outlet Store, Barneys New York Outlet, Coach Factory, Michael Kors, Nike Factory Store and Tommy Hilfiger, among many more. For more information, visit www.paragonoutlets.com.
SOURCE Paragon Outlet Partners