Under Armour To Take Over Former FAO Schwarz Flagship Site On 5th Avenue
NEW YORK (CBSNewYork) -- The former site of beloved toy giant FAO Schwarz has finally found a new tenant.
The Baltimore-based athletic wear company plans to take take over the 53,000 square foot space at the base of the General Motors building on 58th Street and 5th Avenue by 2019, Dow Jones Business News reports.
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The new location will neighbor the Apple Store and stand just footsteps away from Central Park, the Plaza Hotel and the bustling 5th Avenue shopping district.
Under Armour currently has a brand house location on Broadway in Midtown, and one in White Plains.
FAO Schwarz, owned by toy store giant Toys 'R Us, closed its flagship store in July 2015, citing rising rent costs.
At one time, there were 40 FAO Schwarz stores around the U.S., but all have closed, with the 5th Avenue location being the final location to shut its doors.
It was reported last year that the toy company was looking into the possibility of moving into another space.