Saks Fifth Avenue OFF 5TH to Open in Fairfax, VA

NEW YORK–(BUSINESS WIRE)–Saks Fifth Avenue OFF 5TH and Peterson Companies are pleased to announce
plans to open a new store at Fair Lakes Center, located in Fairfax, VA.
Set to open in August 2016, the new 21,800 square foot Saks OFF 5TH will
feature an impressive selection of designer fashion, accessories, and
footwear for men and women, boasting in-season and on-trend offerings
from more than 800 leading designer brands at incredible prices.

“We are very excited to bring Saks OFF 5TH ‘thrill-of-the-hunt”
experience to shoppers in Fairfax,” commented Jonathan Greller,
President, Saks Fifth Avenue OFF 5TH and Gilt. “We believe the expansion
of Saks OFF 5TH in Northern Virginia will raise the standard for luxury
off-price shopping in the region.”

“Saks OFF 5TH is an excellent fit for Fair Lakes Center, as their
designer fashion offerings perfectly complement our existing mix of
retailers. We’re excited to provide an impressive new destination for
our shoppers as we further enhance the center shopping experience that
our customers have come to expect from us,” says Kelly Price, Vice
President – Retail Asset Management, Peterson Companies.

With new arrivals shipped to the store almost daily, customers will make
new and exciting fashion discoveries, including one-of-a-kind designer
finds, with every visit. For additional Saks OFF 5TH shopping benefits,
customers may sign up for the More! program on saksoff5th.com. Rewards
include insider access to exclusive discounts, new arrival alerts, and
more.

The new Saks Fifth Avenue OFF 5TH will reside at 12995 Fair Lakes
Shopping Center, Fairfax, VA 22033.

ABOUT SAKS FIFTH AVENUE OFF 5TH

As part of the Hudson’s Bay Company brand portfolio, Saks Fifth Avenue
OFF 5TH is a world-class destination for true fashion at extraordinary
value. The retailer’s 101 stores and e-commerce division,
saksoff5th.com, combine the two great joys of shopping: the delight of
discovering the best in luxury and the thrill of finding a deal. A
sophisticated shopping experience of carefully curated off-the-runway
trends, exceptional service, and savings on the biggest names in
fashion, Saks Fifth Avenue OFF 5TH leads the market as the premier
luxury-value destination.

About Peterson Companies

Peterson Companies is one of the largest privately owned real estate
development companies in the Washington, DC region and offers
fully-integrated development and management services for commercial,
office, residential and retail real estate. Founded by Milt Peterson 50
years ago, the company is responsible for some of the most prominent and
successful mixed-use retail, residential and office developments in
Northern Virginia and Maryland including Fair Lakes, National Harbor,
Virginia Gateway, Downtown Silver Spring, RIO Washingtonian, Fairfax
Corner, Burke Centre and Tysons McLean Office Park. The company has an
extensive two million square foot development pipeline and remains
focused on delivering exceptional projects that set the standard for
real estate development and redevelopment. For more information about
the company, please visit www.petersoncos.com.

Contacts

For Saks Fifth Avenue OFF 5TH
Tiffany Bourré, 905-595-7184
Tiffany.Bourre@hbc.com
or
Joanna
Rothermel, 703-227-0894
JRothermel@petersoncos.com