Big changes are coming to the space that formerly housed the Saks Fifth Avenue store in Palm Beach, Fla.
Real estate development and investment company O’Connor Capital Partners of New York has announced redevelopment plans for the Saks Fifth Avenue anchor retail space (which closed this month) at the upscale shopping center The Esplanade. The company is set to transform the 50,000-sq.-ft., two-level space into a “premier luxury destination” featuring high-end retail, office space, and lifestyle offerings.
“The Esplanade has long been a cornerstone of high-end shopping in Palm Beach and its redevelopment represents an exciting next chapter,” said Bill O’Connor, CEO of O’Connor Capital Partners. “We are committed to delivering a world-class experience that celebrates the history of this celebrated location and provides sought-after retail and lifestyle options as Palm Beach continues to experience unprecedented growth.”
Fairfax & Sammons Architecture will oversee the architectural vision for the project, ensuring it “blends seamlessly with Palm Beach’s heritage.” Odyssey Retail will lead the tenant curation at the new development to deliver a “carefully-selected mix of world-class brands and exclusive offerings.”
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“It is an honor to bring our design expertise to a project that will redefine this space while staying true to the character and elegance that makes Palm Beach so special,” said Anne Fairfax, partner at Fairfax & Sammons Architecture. “Our approach is rooted in a deep appreciation for the area’s architecture, and all design decisions will reflect the sophistication and charm that visitors cherish.”
Founded in 1983, O’Connor Capital Partners has been involved in the development of approximately 20,000 units over its 40-plus-year history.
The Esplanade first opened its doors in 1980.
