BOCA RATON, FL (BocaNewsNow.com) — No discount here. “Off 5th,” the upscale outlet version of Saks Fifth Avenue in the Somerset Shoppes on Glades Road in Boca, owes at least $89,444.86.
That’s the claim just filed in Palm Beach County Circuit Court by Somerset Shoppes FLA LLC, the company that owns the “Off 5th” building which holds the address of 8903 Glades Road. According to the suit, Saks Off Fifth stopped paying rent as COVID-19 hit hard.
Saks Fifth Avenue and Off 5th are owned by Canada-based HBC or Hudson’s Bay Company.
According to the Boca suit, “(Somerset Shoppes) served ‘Off 5th‘ with a notice of default and demand to cure on May 12, 2020, demanding that Tenant pay the Rent due. Tenant has failed and refused to make payment.”
You can read the entire lease agreement below. The demand letter for rent is page 104 if you’d like to skip ahead.
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