cherry creek

Saks Fifth Avenue To Close Another Store

How much is too much? That's the question Luxury Daily asked when considering the announcement that Saks Fifth Avenue is closing its seventh retail location since July, the Saks Fifth Avenue store at the Cherry Creek Shopping Center in Denver, Colorado. The luxury retail chain already closed its Saks Fifth Avenue stores in Mission Viejo and San Diego, CA; Southampton, NY; Portland, OR; Charleston, SC; and Plano, TX in 2010. The Saks Fifth Avenue Off 5TH store in The Legends at Sparks Marina in Reno/Sparks, Nevada also closed at the first of the year.

Some luxury watchers cheered the move saying that it was a smart response to a changing luxury market. The news came out last week as Saks announced that revenue in stores open at least a year rose 11.8 percent in December. Another piece of good news: sales for the five weeks ended January 1 rose 10 percent to $432.2 million from $393.7 million a year earlier. The best-selling items of the month included women's and men's clothes, shoes, purses and makeup.

Approximately 100 associates are employed in the Denver Saks Fifth Avenue store which will close on March 19. All affected associates either will be offered transfer opportunities or will receive appropriate employment separation packages. The Denver store opened in 1990 and is approximately 87,000 square feet. The departure of the store leaves a hole in the Cherry Creek Shopping Center which may not be able to find an anchor store to fill the spot for some time. The space fronts East First Avenue, making it a prime spot for luxury shopping for the right tenant.

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Marquis Estate of Cherry Creek, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

Today's estate is a modern home in Denver's Cherry Creek neighborhood. The contemporary home has floor-to-ceiling windows and is a light and airy rendered in stone, stainless steel and blonde wood. The four-bedroom home includes a spa, gym, massage room and an indoor heated saltwater pool. An upstairs glass bridge connects the library mezzanine to executive office and there is a home theater and a sound system.. A guest suite has a separate entrance. The home has snowmelt in exterior patios and entrance way and there is a three-car garage. This home is listed at $5.695 million.

Gallery: Marquis Estate of Cherry Creek

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Tags: cherry creek, CherryCreek, colorado real estate, ColoradoRealEstate, denver, estate of the day, EstateOfTheDay

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150 S. Madison, Cherry Creek Goes Condo

by Deidre Woollard (RSS feed) —

Filed under: Estates

I've mentioned the Cherry Creek area of Denver in terms of luxury homes before but there are also new condominium developments rising in the area. 150 S. Madison seeks to combine old-world charm with all the latest luxury conveniences and offers a chance to buy into the prestigious Cherry Creek neighborhood at a lower price. There will be 29 units designed in a a style that features an old-fashioned stone exterior and a light-filled more modern interior. The developer recently partnered with Bang & Olufsen to wire up the units for audio, video, home theater, and home automation, and Bang & Olufsen offers a variety of different upgrade packages for audio, video, automation and home theater systems. There are two floor plans, smaller units that measure 1300-1400 sq. ft. and are located on the first and second floors and larger Penthouse units that measure between 2500-2700 sq. ft. and are on the third floor. According to real estate listings, the smaller homes are in the $500,000 to $600,000 range with the penthouses going for over $1 million.

The Denver Real Estate Bubble blog has some interesting stats on Denver real estate, particularly the resale price of some lower-priced Cherry Creek condos.

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