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Double-digit increases in inventory are coming for New York City, Chicago and Philadelphia.

The luxury retailer has signed a 14,000-SF, long-term lease at 680 Fifth Ave. and plans to open the store in 2023 following an office lobby-to-retail repositioning.

A record 97.5 million square feet were leased by e-commerce occupiers in 2020, while another 77.1 msf was leased last year.