Efforts to Preserve Neiman Marcus in Downtown Dallas
DALLAS – Local stakeholders and city officials convened a press conference in front of the iconic Neiman Marcus store in Downtown Dallas, which is set to close due to a lease dispute. This landmark, integral to the fabric of the community since 1914, currently faces potential closure.
The Importance of Neiman Marcus
During the event, key figures such as Downtown Dallas Inc. President Jennifer Scripps, City Manager Kim Tolbert, Councilman Paul Ridley, Todd Interests CEO Shawn Todd, and Dallas Economic Development Corporation CEO Linda McMahon emphasized the store’s historical and cultural significance. They asserted that it is crucial to find a solution that would prevent the store’s closure.
“We are collaborating to ensure Neiman Marcus continues to thrive at the heart of downtown,” stated Scripps.
Collaborative Efforts Ahead
The city leaders are planning to meet with the owners of Neiman Marcus and the associated property owners in the coming week. The aim is to negotiate a satisfactory lease agreement, as they recognize that the ground leases in Downtown Dallas can often be complex and challenging. However, they remain optimistic about finding an innovative solution.
Voices of the Community
City Manager Tolbert expressed personal sentiments about the store, likening it to a cherished retreat after a demanding day. “This beautiful store represents more than just retail; it has been a source of comfort and community spirit for many,” she remarked. Tolbert also emphasized the expected increase in visitors to downtown with major events like the 2026 FIFA World Cup and ongoing redevelopment projects.
Councilman Ridley, who arrived shortly before the press conference, committed to leveraging his position to maintain Neiman Marcus’ presence, highlighting its importance in revitalizing downtown Dallas.
Todd affirmed the collective resolve of the leaders to collaboratively resolve the ongoing lease disagreement, hopeful for a positive outcome.
Status of Neiman Marcus Closure
Following its merger with Saks Fifth Avenue, Neiman Marcus announced the upcoming closure of its flagship location in Downtown Dallas. A spokesperson for Saks Global indicated that after extensive negotiations lasting over a decade, they received a termination notice from their landlord, effective March 31, 2025. The company expressed regret over losing a historic staple of the local community.
In July 2024, reports indicated that Saks Fifth Avenue would acquire Neiman Marcus, with the acquisition finalized in December of that year for $2.7 billion. This transaction came alongside the closure of Saks’ CityPlace offices and its Bryant Park location in New York City.
A Rich History
Founded in Dallas in 1907, Neiman Marcus has established a reputation synonymous with high-end luxury. Originally located at Elm and North Field Streets, the store shifted to its present location on Main and Ervay Streets following the destruction of the first building in a fire in 1913. Despite facing bankruptcy during the pandemic in May 2020, it successfully exited the process later the same year, showcasing its resilience over the years.
The Source: Information for this article has been derived from communications by Downtown Dallas, Inc., statements provided by Saks Global, and previous coverage from FOX 4 News.
