Friday , 18 August 2017
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Major Expansion at Houston’s Galleria

HOUSTON – Simon Property Group is reportedly planning a major redevelopment of The Galleria in Houston, which will include a 200,000 sf Saks Fifth Avenue store, a 300-unit high-rise residential tower and a high-end luxury boutique. The Galleria III wing of the mall will be torn down to make way for new Saks construction, David Contis, president of Simon Malls told the Houston Chronicle.

The 2.4 million sf Galleria which has 400 stores and restaurants, two Westin hotels and three office towers, was developed by master developer Gerald Hines over 40 years ago.

The Galleria has exceptional retail sales over $1.25 billion annually, Contis told the Chronicle’s David Kaplan, a veteran retail journalist.

Macy’s which has had two stores in the Galleria since Macy’s bought the Foley’s chain in 2005, will close one of its Galleria stores. The existing Saks space will be converted into 35 smaller stores, Simon said.

Simon currently owns or has an interest in 326 retail real estate properties in North America and Asia comprising 241 million sf. Simon is headquartered in Indianapolis, Ind.

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