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Saks to anchor new International Market Place in Waikiki

By Andrew Gomes

LAST UPDATED: 2:11 p.m. HST, Jun 14, 2013

A Saks Fifth Avenue department store will anchor a retail complex slated to replace International Market Place in Waikiki, the project’s developers announced today.

International Market Place owner Queen Emma Land Co. and development partner Taubman Centers Inc. said the luxury fashion retailer has committed to leasing the project’s anchor tenant space.

If realized, the deal would establish the first full-line Saks store in Hawaii. Saks has a discount Off 5th outlet store at Waikele Centers.

Taubman, a Michigan-based mall developer, and Queen Emma Land did not give an updated timetable for development of the roughly 360,000-square-foot open-air retail, dining and entertainment complex that is estimated to cost about $350 million and is also being developed with real estate investment firm CoastWood Capital Group LLC. Previously the developers anticipated starting construction this year.

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