Under Armour is taking over one of New York's most iconic places to build the 'single greatest retail store in the world'

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Under Armour is opening a new store in Manhattan, in the building FAO Schwarz used to call home, the company announced on Tuesday morning. 

RKF and Mason Retail Group represented Under Armour in the deal.

According to CNBC, the company will take hold of the 53,000-square-foot space as early as 2018.

While the opening of one store doesn't always make headlines, CNBC notes that this new store will combine experiences with traditional shopping.

CEO Kevin Plank said on a recent earnings call that the new space would be "the single greatest retail store in the world."

Under Armour already has a boost in that it sells activewear, one of the few categories for which consumers will pay a premium.

Under Armour posted another quarter of sales growth, making it the 25th consecutive quarter with over 20% revenue growth, the company noted.

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