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Saks Fifth Avenue is leave the Boot From Bal Habour

Saks Fifth Avenue Gift Cards Bal Harbour Shops may soon have one less name on its roster of tenants. The owner of the foliage-and-fountain fused luxury shopping center in Miami – which is home to the likes of Chanel Balenciaga Bottega Veneta Brunello Cucinelli and Gucci among others – wants to give Saks Fifth Avenue the boot after the upscale department store chain allegedly stopped paying rent for its 143,142 square foot space in March. In a newly-filed lawsuit Bal Harbour Shops LLC is asking a Florida court for an eviction judgment against Saks and damages of more than $1.9 million.

Across the country retailers and landlords are in discussions on rents and other items because of the temporary store closures caused by the pandemic. In most cases compromises and adjustments in rents and leases are being negotiated though it’s expected that more lawsuits will emerge in the months ahead.

The Benitahs have not yet built a new house on the site. The buyer purchased the property with approved construction plans according to Goldshtein.

Bal Harbour pushes back against Saks’ claims in its complaint asserting that Saks’ “reported sales in June of 2020 actually exceeded [its] reported sales in June of 2019 [and] yet Saks continues to refuse to pay the rent due. “ As of July 8 Saks owed Bal Harbour more than $1.9 million under the lease the company claims an amount that continues to accrue.

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