Dillard's, Saks Fifth To Anchor University Town Center

Three major anchors have signed up to be part of a mall at University Town Center, contributing to a key component to the Nathan Benderson Park package.

Michigan-based Taubman Centers announced the anchors Tuesday morning for its shopping mall partnership with Benderson Development. 

"This represents the perfect addition to the Gulf Coast's finest retail corridor," said Randy Benderson, president of Benderson Development. "This extraordinary investment in Southwest Florida's future will exceed anyone's expectations." 

The mall will be located just north of the rowing facility at Nathan Benderson Park, and will be laid out in more of a traditional mall setting instead of a Main Street feel with housing.

The $315 million, two-level mall will feature: 

• 180,000-square-foot Dillard's

• 160,000-square-foot Macy's

•  80,000-square-foot- Saks Fifth Avenue

• 115 stores

• A fourth department store to be named later

The shopping center will begin construction later this year and is expected to open in the fall of 2014. The project is being developed by Taubman and Benderson Development. Each will own 50 percent. Taubman will be responsible for development, management and leasing of the center.

"The Mall at University Town Center will be one of the premier shopping destinations on the west coast of Florida," said Robert Taubman, chairman, president and CEO of Taubman Centers, "and it will be the preferred shopping destination in the Sarasota region for locals and visitors alike."

Taubman also owns or has co-developed International Plaza in Tampa, Waterside Shops at Pelican Bay in Naples, and Mall at Millenia in Orlando.

Could this mean an exit of Saks from the Westfield Southgate Mall? It's not immediately clear in the statement Saks issued.

"We are excited about expanding Saks Fifth Avenue's presence in Sarasota by opening our new store in The Mall at University Town Center, which will be double the size of our existing store," noted Steve Sadove, chairman and CEO of Saks. "We look forward to showcasing our increased assortment of designer offerings in the new space and delivering even more special services and amenities to our many loyal Sarasota customers."

Dillard's Chief Executive Officer, William Dillard, II, said he's pleased to be joining the mall, which also has a store at Southgate.

"Our new Dillard's store will enable us to present our Sarasota area customers and guests with compelling selections and premium Dillard's service in a new location featuring our latest in store design.  We are looking forward to serving Southwest Floridians at The Mall at University Town Center."

Macy's would have its third store in Sarasota at University Town Center following its stores at Southgate and Westfield's Sarasota Square Mall. Macy's also has a store at DeSote Square in Bradenton, which is managed by Simon.

"In Sarasota, Macy's serves a strong year-round community as well as a thriving population of tourists and winter residents," said Peter Sachse, Macy's chief stores officer. "The University Town Center location will provide us the opportunity to serve new and existing customers with the distinctive fashion, great value and exciting shopping experience for which Macy's is known. We will continue to tailor our offering in Sarasota to meet the unique needs of the customers who live, visit and work there, and we expect to continue to be active members of the community."