February 3, 2026
Landlord Simon Property expects to hike rents at former Saks Off 5th stores
Simon Property Group has found an upside in Saks Global's bankruptcy, saying it expects to collect significantly more in rent from tenants who will fill space in closed Saks Off 5th stores. And there's another potential bright spot: The mall owner's $100 million investment in the luxury giant in 2024 gave it control of real estate that's in short supply.