Under Armour Opening 7K-SF Store at Thor Equities’ 139 Fifth Avenue
By Mark Hallum January 12, 2023 12:40 pm
reprints
Athletic wear giant Under Armour is opening a brick-and-mortar store at 139 Fifth Avenue in the Flatiron District after signing a 6,750-square-foot lease with Thor Equities.
The retailer will have the run of the ground floor and lower level on a temporary lease, with options to make it longer term. The space had an asking rent of $400 per square foot, according to Thor. The Real Deal first reported the story.
“As one of the most influential and recognizable brands in the sports world, Under Armour is perfectly suited for Manhattan’s sought-after Flatiron District, and we cannot wait to see what innovative products they choose to showcase at this location,” Jack J. Sitt, executive vice president of Thor, said in a statement.
Jennifer Konefsky and Kenji Ota of Cushman & Wakefield (CWK) represented Under Armour in the lease, while Thor handled it in-house. C&W declined to comment.
Under Armour will open in February once the current tenant, Arc’teryx, vacates the space at the end of the month.
The deal follows some fits and starts for the brand coming out of the pandemic. Under Armour put 24,403 square feet of what was supposed to be its flagship at the former FAO Schwarz storefront in the General Motors Building up for sublease in March 2021.
But there was a brief respite for Under Armour, among other brands, which only a month later began to see a 20 percent increase in foot traffic to its stores during the first week of April that year, Commercial Observer reported at the time.
Mark Hallum can be reached at mhallum@commercialobserver.com.
