Beachwood Mall to Reimagine Space After Saks Departure

City partners with mall management on 'remerchandising strategy' as anchor tenant exits in May

Mar. 12, 2026 at 3:06pm

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Saks Fifth Avenue is set to close its Beachwood Place mall location in May, prompting the city of Beachwood and the mall's new management team, Trademark Property Company, to work on a plan to fill the 100,000-square-foot space left vacant. The city is dedicated to fostering collaboration with stakeholders to support a thriving retail environment in the community.

Why it matters

The closure of the Saks store, an original anchor tenant since the mall's opening in 1978, represents a significant shift in the retail landscape of Beachwood Place. The city and mall management are focused on strategizing a new tenant mix and guest experience to maintain the mall's status as a long-standing fixture in the community.

The details

Saks Global Enterprises, the parent company of Saks Fifth Avenue and Neiman Marcus, announced it will close 12 Saks locations and three Neiman Marcus stores, including both of its Ohio stores. The Beachwood Saks employed 70 workers and occupied a 100,000-square-foot building valued at $6.5 million. Beachwood Schools will lose about $130,000 in property tax revenue from the closure.

  • Saks Fifth Avenue is scheduled to close its Beachwood Place location in May 2026.
  • Saks Global Enterprises filed for Chapter 11 bankruptcy protection on January 13, 2026.

The players

Trademark Property Company

The new management and leasing firm for Beachwood Place mall, appointed by owner Brookfield Properties earlier this year.

Brookfield Properties

The New York-based company that purchased Beachwood Place mall in 2018.

Catherine Bieterman

Beachwood's Economic Development Director, who stated the city is working closely with Trademark Properties on a remerchandising strategy.

Saks Global Enterprises

The parent company of Saks Fifth Avenue and Neiman Marcus, which filed for Chapter 11 bankruptcy protection and announced the closure of 12 Saks and 3 Neiman Marcus stores, including the Beachwood location.

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What they’re saying

“The city of Beachwood is working closely with Trademark Properties. We are dedicated to fostering continued collaboration with them and all stakeholders to support a thriving retail environment here within the city.”

— Catherine Bieterman, Beachwood Economic Development Director

What’s next

The city and Trademark Properties are actively working on a remerchandising strategy to fill the vacant Saks space and enhance the overall guest experience at Beachwood Place mall.

The takeaway

The closure of the iconic Saks Fifth Avenue store at Beachwood Place mall represents a significant challenge, but also an opportunity for the city and mall management to reimagine the retail landscape and maintain the mall's status as a long-standing community fixture.