What's going on in downtown Dallas? More major departures shake the city core

An iconic property in Downtown Dallas is shuttering after more than a century—but it is only one piece of a broader wave of departures reshaping the city's urban core. 

The Neiman Marcus at 1618 Main St. in Dallas will close later this year, according to WFAA. Company officials with Saks Global, parent company of Neiman Marcus, said the decision was made to align with customer demand and preferences.

"As we continue to take steps to secure a strong future for Neiman Marcus, our optimized store footprint is aimed at aligning our go-forward presence with customer demand and preferences," a Saks Global spokesperson told Chron in a statement Wednesday afternoon. "After a thorough evaluation, we have made the difficult decision to close the Neiman Marcus Downtown Dallas store on September 30, 2026 and concentrate our resources where our customers prefer to shop."

Saks Global said Dallas remains an important market for Neiman Marcus and that they plan to infuse elements of Downtown's history at their NorthPark location, where the company says it is committed to serving their loyal Dallas customers.

For impacted team members, Saks Global said transfer opportunities to nearby Neiman Marcus locations will be offered where possible, and eligible colleagues who qualify will be offered appropriate separation packages.

City officials expressed disappointment but said they will continue working with Saks Global on the NorthPark store transformation. 

"We are disappointed that Saks Global plans to close the historic Neiman Marcus store in downtown Dallas, which has been a cornerstone of our central business district for more than a century," City Manager Kimberly Bizor Tolbert told Chron in a statement on Wednesday. 

Tolbert said the city has been discussing the property with Saks Global for some time.

"We want to acknowledge the open conversation we have had with the leadership of Saks Global over the past two years as they evaluated their options for the future of this iconic property," Tolbert said. "Those discussions reflected our shared recognition of the store's importance to Dallas."
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The closure marks another symbolic loss for downtown Dallas, which has long relied on major corporate and institutional anchors. Saks Global joins a growing list of companies scaling back or relocating their presence in the area.  The City of Dallas did not respond to Chron's request for comment about the broader trend of closures and relocations in the area.

RELATED: Dallas loses corporate giant as AT&T relocates across North Texas

AT&T 

AT&T, one of the world's largest telecommunications companies, announced it would relocate its headquarters from downtown Dallas to Plano in January. 

The telecom giant has been headquartered in Dallas' Whitacre Tower since 2008. John Stankey, CEO of AT&T, said the company plans to partially occupy the new campus at 5400 Legacy Drive in Plano by late 2028.

The sixth-biggest employer in the city and largest Fortune 500 company headquartered there, AT&T's  move was labeled a "significant blow" for Dallas. The decision garnered substantial attention, even from Gov. Greg Abbott, who blamed the city for the company's relocation.  

However, at the time, city officials said they remained hopeful that the city's future would remain strong, and said AT&T's decision came down to a push for a horizontal suburban-style campus rather than Dallas' vertical skyline.  

RELATED: Dallas Mavericks have deal for arena site that would move club out of downtown for 1st time

NBA's Dallas Mavericks 

The Dallas Mavericks have been on the hunt for a site to build a new arena, and earlier this week, the club announced it had an agreement for a 104-acre property roughly 10 miles north of downtown. The team currently leases the American Airlines Center at 2500 Victory Ave., and the new deal would move the club out of downtown Dallas for the first time in history. 

While the team was also considering City Hall as a potential location, CEO Rick Welts said the club wanted to have a site settled by July so that construction of a new arena could wrap by 2031, when the Mavericks' lease expires. 

"We have the opportunity to create a vibrant mixed-use destination anchored by a state-of-the-art arena, along with restaurants, entertainment options, public green spaces and family-friendly experiences," the team said in a statement. "Done thoughtfully and with community engagement, a project of this scale will serve as a meaningful economic catalyst for Dallas and its residents." 

Fifth Third Bank

After a merger with Comerica, Fifth Third Bank announced it would relocate from Comerica Bank Tower in downtown Dallas to Plano, according to WFAA. The bank signed a long-term lease and will occupy a new facility at the Preston Center—located at 8300 Douglas Ave.—by late 2028. 

Brian Enzler, the North Texas region president for Fifth Third told The Dallas Morning News the new location was selected for its close proximity to airports, employee homes and the Fifth Third North Texas offices. Public safety and parking were reportedly not part of the bank's decision to leave downtown Dallas.

The 60-story Comerica Bank Tower is being reimaged as a mixed-use destination, with 242 hotel rooms, 240 residential units and 600,000 square feet of office space, according to D Magazine. 

RELATED: The last enclosed mall built in Texas is about to be reimagined

NHL's Dallas Stars 

After the lease it up at their current arena in 2031, the NHL's Dallas Stars have announced they plan to relocate to Plano. The new arena is expected to be built as part of redevelopment of The Shops at Willow Bend—the site of the last enclosed mall in Texas, set for demolition within the next year.

The Dallas Stars have occupied the American Airlines Center at 2500 Victory Ave. since it opened in 2001. The two teams have been embroiled in a lawsuit over the maintenance of the property.