DFW INVOLVED IN ANOTHER DEAL: Dallas-based Neiman Marcus has been involved in a multibillion-dollar deal, being sought after by none other than New York City's iconic retailer, Saks Fifth Avenue. This high-profile move highlights the strength and appeal of Dallas's economy. 🌟 Why Invest in Dallas? 🌟 The thriving business environment in Dallas is attracting major investments and fostering economic growth. Here’s why you should consider investing here: Strong Economic Growth: With a booming job market and diverse industries, Dallas is a hotbed for economic activity. Real Estate Opportunities: From commercial to residential properties, the real estate market is thriving and offers lucrative investment prospects. Strategic Location: Dallas’s central location and robust infrastructure make it an ideal hub for businesses and investments. Join the wave of investors recognizing Dallas’s potential.If you're interested in learning more, reach out to us at 972.837.8765 or at info@SlaughterInvesting.com today! #DallasEconomy #NeimanMarcus #SaksFifthAvenue #InvestInDallas #RealEstate #SlaughterInvesting #EconomicBoom READ MORE: https://lnkd.in/gC45JS99
Leah Slaughter’s Post
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All things luxury business :: Host of The Luxury Item podcast :: Adjunct professor in luxury marketing at NYU
𝗦𝗮𝗸𝘀 𝗙𝗶𝗳𝘁𝗵 𝗔𝘃𝗲𝗻𝘂𝗲 𝗙𝗹𝗮𝗴𝘀𝗵𝗶𝗽 𝗔𝗽𝗽𝗿𝗮𝗶𝘀𝗲𝗱 𝗮𝘁 $𝟯.𝟲 𝗕𝗶𝗹𝗹𝗶𝗼𝗻 𝗮𝘀 𝗜𝘁 𝗥𝗲𝗻𝗲𝘄𝘀 𝗡𝗲𝗶𝗺𝗮𝗻 𝗣𝘂𝘀𝗵 "As part of the proposed financing, Saks’ flagship store at 611 Fifth Ave. in Manhattan was valued at $3.62 billion. That’s a notable increase from an appraisal of $1.6 billion in 2019 and close to its value of $3.7 billion in 2014, according to previous filings from parent company Hudson’s Bay Co...The valuation also means that the landmark property is now worth more than Hudson’s Bay paid for all of Saks Fifth Avenue when it acquired the company in 2013. That deal valued the luxury department-store chain at $2.9 billion, including debt." https://lnkd.in/eqEBR_XC
Saks Fifth Avenue Flagship Appraised at $3.6 Billion as It Renews Neiman Push - BNN Bloomberg
bnnbloomberg.ca
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For years the Hudson Bay Company in Toronto has been ever changing, downsizing etc. But rumour has it that Hudson's Bay Co. has reached a deal to buy luxury department store chain Neiman Marcus, according to media reports. The Wall Street Journal and New York Times reported the deal will see Toronto-based HBC pay US$2.65 billion for the U.S. retailer. Did you see this coming… And how many of us knew that Neiman Marcus competes in the same segment of the retail market as HBC, which also owns Saks Fifth Avenue and Saks Off 5th. It wasn’t long ago that HBC spent years working to revamp its operations after closing Home Outfitters in 2019, the same year it sold Lord & Taylor. To my recollection HBC recently (May 2024) scaled back its staffing levels as part of a “realignment” of its organizational structure. As a result of realignment dozens of jobs were lost plus Hudson's Bay says it will not renew the expiring lease for its Regina store in the Cornwall Centre, opting instead to permanently close the location in April 2025 so this rumoured announcement of the purchase of Neiman Marcus caught many by surprise. You may recall Neiman’s acquisition by Hudson’s Bay comes four years after the luxury retailer filed for bankruptcy following debt struggles and temporary store closures brought on by the COVID-19 pandemic. HBC could not have accomplished this acquisition without the help of Amazon and Steve Bezos whose net worth is over $214 billion. Well by the time I make comment on this rumour it has become fact and our appraisal pencils will need to be sharpened. Come to think of it …when was the last time you literally drove your car to a mall to shop at the local HBC…..
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Industry News: La-Z-Boy is opening new stores, despite expectations for 'volatile' furniture demand CEO says store traffic hampered by higher interest rates, low housing turnover Shares of La-Z-Boy Inc. rallied after hours on Monday after the maker of recliners and other furniture reported fourth-quarter results that topped expectations despite a "volatile" furniture industry hit by a largely frozen housing market. The company also forecast a fiscal first-quarter sales range that was above Wall Street's expectations. And it said it expects "modest sales growth" for the fiscal year ahead, which concludes around the end of April, and that it plans to open 12 to 15 new furniture galleries over that period. La-Z-Boy's stock (LZB) jumped 11% after hours. Shares are down 7.7% so far this year. ————————————————— 💥Over 16 MILLION Square Feet Represented💥 ✅Visit https://lnkd.in/gKX9JcPy for exciting new property listings! ————————————————— #realestate #newenglandretail #property #forsale #retail #realestateinvesting #business #broker #realestatenews #properties #investor #investmentproperty #connecticut #nerp #newengland #connecticutnews #newenglandrealestatenews
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Neiman Marcus is fighting for a second act in the luxury retail landscape. Read our article here: https://lnkd.in/gS5kxbeM Key Points: - Debt and Bankruptcy: In 2020, Neiman Marcus filed for Chapter 11 bankruptcy due to overwhelming debt and the impact of the COVID-19 pandemic. - Turnaround Strategy: Post-bankruptcy, Neiman Marcus focused on debt restructuring, investing in e-commerce, and creating unique in-store experiences to attract younger luxury shoppers. - Innovative Partnerships: In 2023, the company partnered with Rent the Runway, allowing customers to rent designer clothing and accessories, highlighting a move towards sustainable and flexible luxury experiences. Share your thoughts about Neiman Marcus' journey from glamour to Chapter 11 and their fight for a second act in the comments below. Learn more about how martini.ai can get ahead of these bankruptcies: https://lnkd.in/grbEbxeu #Investment #Finance #Retail #LuxuryRetail #NeimanMarcus #martiniAI
From Glamour to Chapter 11: Neiman Marcus Fights for a Second Act
blog.martini.ai
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Conn's faces possible mass store closures, bankruptcy Conn's, a Texas-based furniture and appliance store, is reportedly considering closing 100 stores across the U.S. amid significant losses over the past three years. This would represent nearly 20% of its footprint and over 40% of the stores it directly controls. The company operates more than 550 locations (378 of which are dealer-owned). While plans are not yet final and no official list has been released, local news sources have reported "going out of business" signs at several locations, including: Arizona - 5530 E Broadway Blvd, Tucson Louisiana - 3437 Masonic Dr, Alexandria -10780 N Mall Dr, Baton Rouge - 2424 Manhattan Blvd, Harvey - 1779 Martin Luther King Blvd #400, Houma - 3316 Ambassador Caffery Pkwy, Lafayette - 3650 Millhaven Rd, Monroe - 150 Northshore Blvd, Slidell - 7081 Youree Dr, Shreveport Texas 3915-A Kell E Blvd, Wichita Falls Vincent Knipp 📞 (972) 755-5205 ✉️ Vincent.Knipp@marcusmillichap.com 👉 Click link for details: https://lnkd.in/gDfWf4Jd #NNN #retail #realestate #investment #investing #commercialrealestate #property #passiveincome #cre #investor #realestateinvesting #commercialproperty #netlease #retailrealestate #conns #bankruptcy
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Industrial/Office/CRE broker. Top producer in leasing & sales & with over 24+ million square feet leased/sold totaling over $4.2+ billion in transaction value
One of the many reasons why we launched Lee & Associates Tampa Bay is because of the incredible family it truely is, including our CEO Jeffrey Rinkov. In a recent interview with GlobeSt.com, Jeffrey shares insights on the current state of the industrial and retail real estate markets. According to Jeffrey, industrial softness has led landlords to revise their retention strategies, while a strong consumer and new concepts have retail on an encouraging path. Read more about his thoughts and expertise in the link below. #LeeAndAssociates #RealEstateInsights #IndustrialRealEstate #RetailRealEstate
Industrial, Retail Paths Diverge as Strategies Shift | GlobeSt
globest.com
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After several months of back and forth, Macy's agreed to open its books to dissident investors trying to buy out the department store operator with an increased offer of $6.6 billion. That move means the activists are now getting a better idea of the value of the retailer's real estate. From the get-go back in December, some industry analysts have said Arkhouse Management and Brigade Capital Management, both based in New York, are more interested in Macy's real estate than its business as a merchant. The activists' unsolicited pursuit of Macy's — the parent of not only its namesake chain but also of upscale department-store operator Bloomingdale's and beauty-goods seller Bluemercury — is seen by some as an attempt to monetize the company's brick-and-mortar holdings, by selling off pieces, after taking it private. Wall Street and retail industry analysts who have studied Macy's holdings, spanning not only roughly 500 stores in its namesake chain but a network of distribution centers, have estimated their value at anywhere from $5 billion to as much as $14 billion. The high estimate was several years ago, in 2017, before Macy's embarked on a wave of store fleet reductions. The offer Arkhouse and Brigade have on the table is on the low end of that wide range of valuations. Their first offer for Macy's late last year was $5.8 billion, a sum that they've since increased by $800 million.
Macy's Burning Buyout Question: How Much Is the Retailer's Real Estate Worth?
costar.com
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Hard to get close on the exact valuation on Macy's properties as they are owned, leased, and under ground lease. The redevelopment of these properties in most cases will require lengthy entitlement process for reuse or redevelopment. For the leased properties not many tenants of that size to takeover so will require splitting up space and TI dollars. Many of these properties are well located in major cities or retail corridors. #redevelopment #landforsale #reuse
Macy's Burning Buyout Question: How Much Is the Retailer's Real Estate Worth?
product.costar.com
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#ExcitingNews! 🎉 We’re happy to announce the successful closing of The Shoppes at Alameda in Albuquerque, NM! This prime retail center is ideally situated within a major shopping hub, surrounded by well-known #retail properties like Cottonwood Commons, Cottonwood Corners Mall, and Cottonwood West. With prominent national tenants nearby—such as Lowe's, Walmart, Dick's Sporting Goods, Albertsons, Ross, Best Buy, Michaels, Five Below, Marshalls, and Burlington—the property is part of a thriving retail market. Within a one-mile radius, there are an impressive 3.8 million square feet of #retailspace, boasting a low market vacancy rate of just 3.9 percent. Notably, the property is located less than two miles from #Intel’s campus, which employs over 5,200 individuals and is set for a $3.5 billion expansion, further increasing the area's growth potential. Our team was honored to represent the #Seller in this transaction, with KM Realty representing the #Buyer. The acquisition strategically enhances KM Realty’s market presence, as they already own the adjacent property. As retail continues to outperform other asset classes, we’re optimistic about a rise in investment activity in 2025. If you’re looking to #buy or #sell retail properties in the Intermountain West, reach out to us—exciting opportunities await! Nate Monson, Bryant Parker, Sage Shepard, Abby Beutler #CommercialRealEstate, #RetailInvesting, #CRE, #RealEstateDeals, #RetailDevelopment, #InvestmentOpportunities, #RetailRealEstate, #NewMexicoRealEstate, #RealEstateInvesting, #AlbuquerqueRealEstate
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Commercial Real Estate Attorney - Leasing | Sales | Acquisitions | Financing | Project Development | Public-Private Partnerships | Title
Very interesting read on the valuable real estate held by “dead” or “dying” anchor department stores. Everybody has a local mall they know needs a refresh - the redevelopment of shopping malls is going to be an exciting area for the foreseeable future. #cre #retaillaw #redevelopment https://lnkd.in/eS5JKFfs
The Real-Estate Scion Behind the Saks and Neiman Marcus Marriage
wsj.com
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