Retail Real Estate Shuffle: Burlington and Ross Lead Bids for Saks Off 5th Leases

Discount retailers Burlington and Ross Stores are moving to acquire Saks Off 5th leases as Saks Global shrinks its footprint following a January 2026 bankruptcy.

By: AXL Media

Published: Mar 17, 2026, 6:55 AM EDT

Source: Bisnow

The Auction Details

Last month, Saks Global placed 59 leases up for auction as part of a radical restructuring that involves closing nearly all Saks Off 5th locations and all but 13 flagship Saks Fifth Avenue stores.

Total Bids Received: 41 bids totaling $36.3M across 31 locations.

Burlington's Aggressive Play: Offered $22M for 22 leases spanning 13 states, including New York, Texas, and California.

Ross Stores: Bid $4M for four leases (three in California and one in New Jersey).

Other Notable Bidders: Books-A-Million ($1.25M for 3 sites) and Cavender’s ($750K for 2 sites).