July 28, 2016
Under Armour Inc. has taken down 53,000 square feet at Boston Properties Inc.’s General Motors Building at Fifth Avenue and 58th Street. The space being taken by the sports accessory and apparel company formerly belonged to toy retailer FAO Schwarz, which shut down in 2015 due to increased rents.
Boston Properties will turn the space at 767 5th Ave. over to its new tenant in 2018, with move-in no later than mid-2019. The store will be the sports apparel company’s second retail outlet in Manhattan. It already has a location on Broadway in SoHo.
Under Armour has been going head-to-head with Nike Inc. for sports apparel market dominance. Experts believe that this move will provide Under Armour with a high profile.
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