Zara parent to pay $400 million for Fifth Avenue flagship

03/6/2011 | Wall Street Journal, The

Spain's Inditex Group plans to open a 32,0000-square-foot Zara flagship on New York's Fifth Avenue, after paying $400 million to acquire the space and buy out the remaining term of the lease of the former tenant, an NBA store. The space is part of a high-profile 90,000-square-foot building that also houses Hollister and Uniqlo stores.

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