**Saks Fifth Avenue to Close Anchor Store at Biltmore Fashion Park**
Saks Fifth Avenue, a longtime anchor tenant at Biltmore Fashion Park in Phoenix, is set to close its doors after nearly 30 years of operation. The 92,000-square-foot store, which opened in 1995, is shutting down following the company’s recent Chapter 11 bankruptcy filing.
According to reports, Saks will hold an “everything must go” sale at the Biltmore location as well as at seven other stores across the country impacted by the bankruptcy proceedings.
This marks the first major anchor store closure at Biltmore Fashion Park since Red Development acquired the shopping center in 2024.
In addition to the Biltmore location, Saks is seeking buyers for its stores at Phoenix Premium Outlets in Chandler and the Promenade Shopping Center in Scottsdale. A&G Real Estate Partners has been retained to evaluate offers for these locations, both in the Phoenix metro area and nationwide.
For now, Saks’ location at Scottsdale Fashion Square will remain open.
