NEW YORK CITY—Hudson Bay Co. has revealed it will open a free-standing Saks Fifth Avenue Men's Store at Brookfield Place in Downtown Manhattan.

The 16,750-square-foot location at 250 Vesey St. will open in the spring of 2017 and will be the second Saks location at Brookfield Place. An 85,000-square-foot Saks Fifth Avenue store that will anchor the northern end of the Brookfield Place complex at 225 Liberty St. is scheduled to open in the summer of 2016. That store will not carry men's fashions, according to Hudson Bay Co.

Hudson Bay Co. also plans to consolidate its headquarters operations to Brookfield Place by August 2016. Globest.com previously reported that Hudson Bay plans to consolidate its corporate headquarters into more than 400,000 square feet of space at Brookfield Place.

"Building a free-standing Saks Fifth Avenue Men's Store at the crossroads of the US financial market and New York City's burgeoning downtown fits perfectly with our vision to expand our leadership position in the luxury space," says Marc Metrick, president, Saks Fifth Avenue. "We look forward to creating a tailored experience for our customers in a dedicated environment, filled with authoritative merchandising assortments."

Dennis Friedrich, CEO of the global office division of Brookfield Property Partners, says of the new deal to bring an additional Saks location to the property, "Brookfield is proud to be characterized by its illustrious retail partners and we expect the Saks Fifth Avenue Men's Store will be a standout presence among our distinguished offering of fine men's retailers."

Last month, Saks and Co. reported it had signed a 16-year, 56,000-square-foot lease at 135 E. 57th St. (Tower57) that will house its Saks Fifth Avenue Off 5th store, which is set to open this coming March. Hudson Bay Co. also announced in September 2014 it was leasing 55,000 square feet at One Liberty Plaza in Lower Manhattan for a Saks Fifth Avenue Off 5th location that is scheduled to open in 2017.