O'Connor Capital Partners Unveils Redevelopment Plans for Saks Fifth Avenue at The Esplanade in Palm Beach, Florida

The iconic space will continue the legacy of a premier retail and lifestyle experience 

NEW YORK, April 24, 2025 /PRNewswire/ -- O'Connor Capital Partners of New York, a leading real estate development and investment company, announced today the redevelopment of the Saks Fifth Avenue retail space at The Esplanade, 150 Worth Avenue in Palm Beach, a premier luxury project designed by esteemed architectural firm Fairfax & Sammons Architecture.

Following Saks Fifth Avenue's already anticipated closure in April 2025, the project is set to transform the 50,000-square-foot, two-level space into a premier luxury destination featuring high-end retail, office space, and lifestyle offerings.

"The Esplanade has long been a cornerstone of high-end shopping in Palm Beach and its redevelopment represents an exciting next chapter," said Bill O'Connor, Chief Executive Officer of O'Connor Capital Partners. "We are committed to delivering a world-class experience that celebrates the history of this celebrated location and provides sought-after retail and lifestyle options as Palm Beach continues to experience unprecedented growth." 

Fairfax & Sammons Architecture, known for its classical design expertise, will oversee the architectural vision for the project, ensuring it blends seamlessly with Palm Beach's heritage. Odyssey Retail, with its extensive experience in luxury leasing, will spearhead tenant curation to deliver a carefully selected mix of world-class brands and exclusive offerings.

"It is an honor to bring our design expertise to a project that will redefine this space while staying true to the character and elegance that makes Palm Beach so special," said Anne Fairfax, Partner at Fairfax & Sammons Architecture. "Our approach is rooted in a deep appreciation for the area's architecture, and all design decisions will reflect the sophistication and charm that visitors cherish."

"The opportunity to work on these exciting tenant plans is truly special and we look forward to sharing them with the Palm Beach community very soon," said John F. O'Connor, Senior Managing Director of O'Connor Capital Partners. "We're proud to contribute to the evolution of The Esplanade and we're confident that our best-in-class luxury tenants will elevate the space and integrate seamlessly at Worth Avenue."

"We are incorporating innovative design elements that enhance the overall experience for our tenants and visitors alike, including thoughtfully curated spaces that reflect Palm Beach's unique character," added Peter Bergner, President of O'Connor Property Management. "We can't wait to provide an unparalleled setting that blends elegance with modern convenience, ensuring that The Esplanade remains a premier destination for years to come."

About O'Connor Capital Partners

O'Connor Capital Partners is a real estate development and investment company based in New York City. Founded in 1983 the company has been involved in the development of approximately 20,000 units over its 40-plus-year history. O'Connor Capital Partners develops and invests in residential, retail, industrial and boutique office sectors. With a proven track record in developing quality projects throughout the United States and Mexico. For more information, please visit oconnorcp.com.

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SOURCE O’Connor Capital Partners