Downtown Dallas Neiman Marcus landmark is too valuable to lose, city leaders say
Downtown Neiman Marcus too valuable to lose
Dallas leaders and stakeholders say the soon-to-close Downtown Dallas Neiman Marcus location is too valuable to lose over a ground lease dispute.
DALLAS - Dallas leaders and stakeholders held a news conference in front of the soon-to-close Downtown Dallas Neiman Marcus to discuss the importance of the local landmark.
They believe the store is too valuable to lose over a ground lease dispute.
It's now clear that the store which has been a fixture of Downtown Dallas since 1914 will not be closed without a fight.
Saving the Downtown Dallas Neiman Marcus
What's new:
Downtown Dallas Inc. President Jennifer Scripps, Dallas City Manager Kim Tolbert, Dallas Councilman Paul Ridley, Todd Interests CEO Shawn Todd, and Dallas Economic Development Corporation CEO Linda McMahon gathered in front of the 110-year-old store on Tuesday morning to talk about their efforts to save it.
The group of city leaders is hoping to meet next week with Neiman Marcus' owners and all property owners to try to work on a lease agreement.
They said they understand that ground leases in Downtown Dallas can be quirky and extremely complicated, but they believe they can find a creative solution to move forward.
"Together, we're working to ensure that Neiman Marcus remains in the heart of downtown," Scripps said.
Leaders fight to save Downtown Dallas Neiman Marcus | FULL
Dallas city leaders talk about their efforts to save the Downtown Dallas Neiman Marcus, which is set to close because of a lease dispute.
What they're saying:
City Manager Tolbert said that for her, saving the store is more than just about what's good for the city.
"To me, this beautiful store is more than an iconic shopping destination. It is actually one of my favorite places to sneak away to after a long day at City Hall for just some beautiful retail therapy, and to have the opportunity to walk the store and look at all of the wonderful, amazing offerings that this store provides to our community," she said.
But when it comes to what's good for the city, Tolbert said the number of people visiting downtown is only going to grow over the next few years with the 2026 FIFA World Cup and the redevelopment of the Kay Bailey Hutchinson Convention Center.
"The Marcus family for generations has given so much to this city, and in that spirit, we are very proud to have some of our finest business leaders once again stepping up to do what is best for Dallas," she said.
Council member Ridley learned about the news conference just a few hours before it happened. He still made it a point to be there.
"I pledge to do whatever I can in my office to retain Neiman Marcus as a presence in Downtown Dallas, because it is so important to what we're trying to do in activating downtown," he said.
Todd echoed their sentiments, saying he is confident that Dallas leaders can come together as problem solvers for the lease disagreement.
Downtown Dallas Neiman Marcus Closing
DALLAS, TX - SEPTEMBER 7: Atmosphere at NEIMAN MARCUS 2007 Crystal Charity Ball Luncheon and GIORGIO ARMANI Fall/Winter 2007 Women's Collection Fashion Show at Nieman Marcus Downtown on September 7, 2007 in Dallas, Tx. (Photo by JOE SCHILDHORN/Patric
What we know:
Less than a year after Neiman Marcus merged with Saks Fifth Avenue, the company announced the closing of their CityPlace offices and their flagship store in Downtown Dallas.
A Saks Global spokesperson said that after more than a decade of negotiations, they received a notice from the landlord of the Downtown Dallas location to terminate their occupancy. The spokesperson said the landlord is forcing them to close effective March 31, 2025.
The Downtown Dallas location has been in the community for more than 100 years and Saks Global said it is disappointed to be losing a piece of Neiman Marcus history.
In July 2024, FOX 4 News reported that Saks Fifth Avenue, the parent company of Bergdorf Goodman and Saks Off 5th, was buying Neiman Marcus. The acquisition was finalized in December 2024 for $2.7 billion.
Saks will also close its Bryant Park office in New York City.
(Original Caption) Ca. 1945-1960-The Ervay Street entrance for Neiman Marcus in Dallas, TX. Two women leave, a doorman holds their packages and the door for them. They are walking towards a waiting car.
The backstory:
Neiman Marcus was founded in Dallas in 1907 and its name has become synonymous with high-end luxury items.
The original Neiman Marcus store was at the intersection of Elm Street and North Field Street. A year after that building was destroyed in a fire in 1913, the company opened the current location at Main Street and Ervay Street.
Neiman Marcus filed for bankruptcy protection in May 2020 during the pandemic, but exited bankruptcy later that year.
The Source: Information in this article comes from a news release from Downtown Dallas, Inc., a statement provided to FOX 4 by a Saks Global spokesperson, and previous FOX 4 News coverage.