Under Armour Inc. (NYSE: UA) is opening a store in downtown Detroit this spring, the company's CEO and its new landlord announced Saturday night at a charity event.

Chairman and CEO Kevin Plank and Dan Gilbert, founder and chairman of Quicken Loans Inc. and Rock Ventures LLC, made the announcement of a new 17,000-square-foot Under Armour Brand House at 1201 Woodward Ave. during a benefit for the Children's Tumor Foundation, an organization of which Gilbert serves on the board of directors, at Cobo Center.

Under Armour describes its Brand House locations as selling its "best collection of innovative sports clothing, athletic apparel, running and training shoes and accessories." It also has Factory Stores, with locations in Howell and Birch Run.

"Detroit is an ideal location for Under Armour as an icon of Americana. Just like Under Armour's hometown of Baltimore, Detroit is currently experiencing an unprecedented wave of momentum, and we can't wait to be part of their exciting success story," Under Armour and Gilbert's Bedrock LLC real estate company said in a statement to Crain's.

Under Armour is the latest international retailer to have a presence in downtown Detroit. The company's largest competitor, Nike Inc., opened a Community Store on Woodward in May. That store, in about 22,000 square feet in the former F.W. Woolworth Co. building at 1261 Woodward Ave., is just a few doors down from the planned Under Armour location.

Dan Mullen, executive vice president of Bedrock, said Under Armour will take the basement, first and second floors of the 1201 Woodward building, which is also occupied by Fathead LLC and Gas Station TV, two other Gilbert companies. Mullen declined to disclose terms of the lease deal but did say it's a "long-term" agreement. It's not known how many people the new store will employ or if contractors have been selected.

Gilbert and Plank first publicly floated the idea of an Under Armour store in Detroit at a Detroit Homecoming event in September 2015. It followed a half-day meeting the pair and Mullen had six months earlier in which they discussed the possibility of Under Armour opening in Detroit, Mullen said.

Plank has expanded the company to an international apparel powerhouse. It has signed such athletes as Golden State Warriors star Steph Curry and New England Patriots quarterback and University of Michigan alumnus Tom Brady to endorsement deals.

Plank founded Under Armour in 1996 before moving the company from Washington, D.C., to Baltimore.

The company reported $3.96 billion in net revenue last year, a 28 percent increase from the $3.08 billion in 2014; last year's net revenue also outpaced the previous expectation of $3.91 billion. It expects $4.925 billion in revenue this year, according to third-quarter reports.

Its operating income also grew last year by 15 percent from $354 million in 2014 to $409 million.