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December 30.2025
3 Minutes Read

Neiman Marcus Property Sells in Beverly Hills: What It Means for Luxury Retail

Neiman Marcus Beverly Hills property sale; building exterior with palm trees.

The Future of Luxury Retail in Beverly Hills

The recent sale of the Neiman Marcus property in Beverly Hills represents more than just a change in ownership; it marks a significant moment in the luxury retail landscape. Saks Global, the parent company of Neiman Marcus, sold its flagship store at 9700 Wilshire Boulevard to Ashkenazy Acquisition Corp. for an undisclosed amount, opting to lease the property long-term. This strategic move aims to alleviate financial pressures as Saks faces increasing debts, including a looming $100 million payment deadline.

A Shift in Business Strategy

Saks Global's decision to sell and lease back their premier retail space illustrates a growing trend among large retailers who are looking to strengthen their financial positions by divesting from physical assets. This move also highlights the resilience of the Beverly Hills retail market, which remains one of the most sought-after in the country. As market demand surges, brands like LVMH and Chanel are not only maintaining but expanding their physical footprints in the area.

Securing a Play in the Golden Triangle

Ashkenazy Acquisition Corp. has expanded its renowned collection of luxury properties in the Beverly Hills Golden Triangle, now owning a total of 350,000 square feet. Their strategy focuses on acquiring top-tier retail properties that promise long-term value. This acquisition reflects a shift towards ownership in a market where high-performing retail space is increasingly rare to find. The firm's founder, Ben Ashkenazy, has shown a keen understanding of this trend, having garnered significant financial backing to pursue such lucrative opportunities.

What It Means for Local Consumers

For consumers in Bakersfield and surrounding areas, the ongoing developments in Beverly Hills signify more than just retail changes; they signify the continued allure of luxury shopping. The presence of brands committed to owning their retail spaces suggests long-term confidence in the market's growth potential. While Neiman Marcus will continue to serve customers at the same location, the vibe of luxury retail is set to evolve with ongoing trends and shifts.

Challenges Ahead for Saks Global

Despite the opportunistic real estate transaction, Saks Global is in a vulnerable position, considering bankruptcy as a last resort. This reality serves as a potent reminder of the outer pressures on retailers. As online shopping continues to challenge traditional stores, how Saks navigates its transformation will be crucial.
As Jay Luchs of Newmark observes, the Beverly Hills retail market is in peak condition, with premium brands expanding their physical spaces. However, this storefront availability isn't reflective of industry stability across all sectors, indicating that Saks's approach must adapt to remain relevant.

Your Takeaway on Key Retail Trends

The Neiman Marcus sale can be viewed as a microcosm of the challenges and adaptations in retail today. As the market shifts, staying informed about these changes will empower consumers to understand their shopping options better and anticipate trends. For Bakersfield residents, this is a time to reflect on what luxury retail means to your community’s identity and economy.

Moving Forward

It’s essential to stay aware of how consumer behaviors are evolving alongside these transactions. As we watch the Neiman Marcus narrative unfold, consider how it affects your perspectives on luxury and how retail strategies can influence local economies. Whether it's engaging with existing outlets or leaning on e-commerce, the retail landscape continues to invite discussion and growth opportunities for everyone involved.

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12.30.2025

Amanda Duff: Transforming HR One Leadership Strategy at a Time

Update Meet Amanda Duff: A Beacon of Change in HR Amanda Duff, recently honored as Business Woman of the Year, is quickly becoming a distinctive voice in the human resources industry. As the founder and CEO of Now What HR, Duff has successfully integrated her passion for people with her expertise in HR, creating an innovative support system for both individuals and companies navigating their workforce challenges. A Transformational Journey of Resilience and Growth Starting her career as a tax accountant at EY, Amanda realized her strengths lay in empowering others to thrive in complex environments. After moving into HR leadership roles, including her tenure as Senior Director of People Operations, she began advocating for sustainable success and a people-centric approach to workforce management. In February 2025, amidst personal challenges, including the birth of her child, Amanda launched Now What HR. Her firm has already made waves in its first year of operation, reflecting her commitment to creating a workplace culture rooted in kindness and strength. Her approach emphasizes authenticity and self-awareness, helping organizations and individuals reach their full potential. Crafting a New Narrative in HR At Now What HR, Amanda offers services tailored to both corporate clients and individual professionals. This dual approach enables her to tackle the multifaceted challenges in today’s business landscape—be it through performance review design, leadership development, or personal coaching aimed at helping career transitions. Amanda describes her coaching philosophy as holistic, where emotional intelligence meets practical strategy. She believes in a customized path for each client, one that involves identifying personal goals and creating actionable plans to achieve them. Esteemed professionals she has worked with echo her effectiveness; they credit Amanda for guiding them toward clarity and confidence in their careers. Grounded in Community Contribution Duff is not just focused on business success; she also prioritizes community impact. She partners with the San Diego Food Bank to provide essential support to families in need. Additionally, her affiliation with Kids for Peace as a “Kindness Certified” organization underscores her dedication to fostering kindness and acceptance within corporate and community spaces. Insights into Leadership and Personal Development Reflecting on her trajectory, Amanda attributes her achievements to resilience built from personal experiences. Understanding the value of vulnerability in leadership, she emphasizes that true success is intertwined with moving beyond traditional metrics of achievement. Reading transformative literature, such as Brené Brown's Dare to Lead, has offered her profound insights on leadership and empathy, which she strives to embody in her own practice. She passionately encourages emerging professionals to cultivate resourcefulness, emotional intelligence, and patience as foundational skills for success. The Future of HR: Embracing Change and Advocacy As Amanda Duff continues to revolutionize how HR functions, she embodies the ethos of modern leadership—one that harmonizes business objectives with the well-being of individuals within the organization. Her journey demonstrates that kindness and respect for human capital can drive prosperity not just for businesses but for society at large. In a world where the dynamics of work are rapidly evolving, her story is a call to action for those in the HR field and beyond. Recognizing that success is ultimately personal, Amanda inspires others to redefine their own trajectories and embrace change with an open heart and a strategic mind.

12.29.2025

Transform Your Leadership Resolutions: Focus on Problem-Solving Strategies

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Why Cole's French Dips Keeps Defying Closure: A Must-Visit Dining Gem

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