After more than 100 years in downtown Dallas, the iconic Neiman Marcus flagship will close on March 31. Owner Saks Global will renovate the Neiman Marcus anchor at the nearby NorthPark Center mall.
The luxury department store opened its first location in 1907 in Dallas, which was destroyed by a fire in 1913. The flagship, built at its current location, opened a year later. The sprawling building, with more than 100,000 square feet of selling space, has been designated a historic landmark.
The closure was forced on the retailer by an unnamed landlord, according to a Saks Global spokesperson. Saks Global is the corporate entity formed after HBC acquired Neiman Marcus Group at the end of last year for $2.7 billion.
Neiman Marcus Group owns the vast majority of the real estate at 1618 Main Street, according to city records. The dispute is with one of the owners of various small parcels of land beneath the store.
The company said it will invest $100 million to renovate the Neiman Marcus anchor store at the NorthPark Center mall.
“After more than a decade of negotiations, we received a notice from a landlord to terminate our occupancy,” the spokesperson said. “This location has been a beloved institution in the community for more than a century, and we are disappointed to be losing a piece of Neiman Marcus history.”
Affected employees may be able to transfer to nearby Neiman Marcus locations and those who are eligible will get “appropriate separation packages.”
