Saks' move to Eaton Centre spurred by Cadillac Fairview CEO's quick thinking

The Toronto Eaton Centre is expected to undergo a revitalization as Nordstrom plans to build a location there to anchor the north side of the complex, as well as Saks Fifth Avenue. The latter development came about through Cadillac Fairview CEO John M. Sullivan's quick moves after learning that Saks, owned by Hudson's Bay Co., would be opening its first Canadian location elsewhere. He offered to buy the company's flagship store and lease it back to Saks. Meanwhile, construction of the 213,000-square-foot Nordstrom will start in March.

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