06/21/2010 05:12 am ET | Updated May 25, 2011

Uniqlo's Fifth Avenue Flagship Store Has Most Expensive Lease Ever

New York's Fifth Avenue is claiming a city retail record: Japanese clothier Uniqlo agreed to pay $300 million over 15 years to bring its affordable fashions to the world's most expensive shopping area.

Uniqlo owner Fast Retailing Co., Japan's biggest apparel seller, announced the deal today, with broker Cushman & Wakefield Inc. and landlord Crown Acquisitions disclosing the price. The space lies at 666 Fifth Ave. near 53rd Street.

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