Mall landlord sues area Saks for allegedly owing $445K in rent

Saks Fifth Avenue is an anchor tenant at The Mall at University Town Center in Sarasota.

By Business Observer Staff
| 11:49 a.m. October 28, 2020
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FIle. The two-story Saks Fifth Avenue store at the Mall at University Town Center is 80,000 square feet.

Manatee-Sarasota

SARASOTA — A lawsuit filed in Sarasota County against luxury retailer Saks Fifth Avenue alleges the company is behind on $445,000 in rent payments at The Mall at University Town Center.

Michigan-based real estate investment trust Taubman Centers Inc. owns the retail center near University Parkway and Interstate 75 in north Sarasota County. TB Mall at UTC LLC filed the lawsuit against Saks and Co. LLC Oct. 22, according to court documents. The lawsuit states that as of Oct. 7, “the principal amount of the Past Due Rent equals $445,436.25…”