Dallas City Manager Kimberly Bizor Tolbert said the City is now in possession of the deed for the Slaughter property that was at the root of Saks Global’s decision to close the store.  

“I want to thank the Dallas Consortium for the Downtown Neiman Marcus for their continued efforts to ensure ongoing operations of the Downtown flagship store. The City of Dallas now officially holds the special warranty deed for the parcel that Saks Global Properties said was needed to keep Neiman Marcus’ Downtown store open,” Tolbert said. 

“I also want to thank the Slaughter family for their donation, and their desire to preserve the prosperity that this iconic brand contributes to Downtown’s vibrancy. With the deed documents now in hand, I am looking forward to hosting Saks Global Properties and Investments CEO Ian Putman and his team on Wednesday morning at City Hall,” Tolbert added. 

Downtown Dallas, Inc. (DDI) President & CEO Jennifer Scripps explained the importance of the property. 

“The ground lease matter that was causing complications “beyond (Saks’) control” has now officially been resolved. We are thrilled that, in the words of Saks Global CEO Marc Metrick, they see their recent acquisition of Neiman Marcus as being about “growing” and “not about shrinking.” Saks Global executives have also said the decision to close the Downtown store was not about operations. Together, we will ensure Neiman Marcus continues to grow and thrive in Downtown Dallas” said Scripps.