Saks Fifth Avenue is searching for 'ideal' sized retail footprints, generally between 110,000 and 180,000 square feet. Nordstrom has been trying to locate similarly large retail spaces between 135,000 and 260,000 square feet.
This broker notes that Saks would ideally like locations in Toronto (Eaton Centre and/or Bloor Street and Yorkdale Shopping Centre), Chinook Centre in Calgary, and Pacific Centre in Vancouver, BC. We had initially reported that Nordstrom had been in negotiation for these Sears locations. Saks' interest could mean the delay or elimination of Nordstrom's efforts to move into Canada.
We'll keep you updated on this speculative and potentially exciting development.
Saks Fifth Avenue website: www.saksfifthavenue.com