Saks Fifth off 5th to be Eagan outlet anchor
Saks Fifth Avenue Off 5th will be the anchor of an upscale outlet mall planned for Eagan.
Paragon Outlet Partners, a Balitmore-based real estate development firm, announced on Monday the upscale clothing store will open a 28,000-square-foot store at its newest outlet center, which is slated to open in November 2014 in the Cedar Grove Redevelopment District.
“We recognized the opportunity and growth potential in the Paragon Outlets Twin Cities in Eagan,” said Robert Wallstrom, president of Saks Fifth Avenue Off 5th in a Dec. 3 news release. “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.”
Saks Fifth Avenue Off 5th is a tenant at several Paragon outlet malls throughout the nation.
“Many tenants follow us from one project to another,” Development Partner for Paragon Kelvin Antill said at a Nov. 21 council meeting. “We feel the key to our outlet projects is in strong tenant relationships.”
Plans for the $100 million center calls for an outdoor complex that includes a mix of large and small retail stores.
Paragon envisions the 408,000-square-foot mall will have 100 different upscale stores.
“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 Principal Nicholas King said in the news release.
Paragon plans to begin construction of the outlet center in Eagan in the spring of 2013. The project is expected to bring about 400 construction jobs and between 1,500 and 2,000 retail jobs when it opens in 2014.
Once finished the outlet mall will add approximately $84 million to the tax base, according to city officials.