Inditex will acquire a flagship Zara retail store on Fifth Avenue in Manhattan, New York, The Wall Street Journal reports. The Spanish retailer will pay $400 million to a joint venture of Stanley Chera’s Crown Acquisitions, Carlyle Group and Kushner for the acquisition. The condo’s purchase price also includes the costs associated with the buyout of the remaining years of lease of the former National Basketball Association store. The remaining part of the property is let to Hollister and Uniqlo that is also up for sale.
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