SL Green Signs Ulta Beauty, Nation’s Largest Beauty Retailer, to Location at 2 Herald Square
July 31 2019 - 7:30AM
Business Wire
12,000-square-foot store to open in coveted
Manhattan retail submarket
SL Green Realty Corp., New York City’s largest office landlord,
today announced that Ulta Beauty, Inc., the largest beauty retailer
in the U.S., has signed a 12,040-square-foot lease at 2 Herald
Square for a new location.
Located on a prime corner of Herald Square at the intersection
of Sixth Avenue, Broadway, and 34th Street, 2 Herald is a
369,000-square-foot mixed-use property in one of Manhattan’s best
retail submarkets. Steps from Penn Station, the area’s foot traffic
each year exceeds 100 million people. Notable tenants in the
building include Victoria’s Secret, WeWork, and Mercy College.
“This new partnership with Ulta Beauty, considered one of the
most popular shopping destinations, demonstrates the strength of
the Herald Square submarket and further attests to the importance
of a brick and mortar presence in New York City as part of an
overall retail strategy,” said Brett Herschenfeld, Managing
Director at SL Green. “I am proud that in only 16 months since
acquiring this Property, our business plan has been executed and
the retail is now 100 percent leased.”
“We are extremely pleased to extend our Manhattan presence into
Herald Square, one of New York City’s most highly shopped retail
destinations,” said David Krueger, Senior Vice President, Ulta
Beauty growth and development. “We opened our first Manhattan store
in the fall of 2017 and it has performed well. This expansion
represents our confidence in our ability to identify unique
opportunities in urban markets to reach new guests.”
Colliers Executive Managing Director Patrick Breslin and
Associate Director Kenny Yip represented Ulta Beauty on the
transaction. RKF Vice Chairman Ariel Schuster, Managing Director
Ross Berkowitz, and Associates Jason Wecker and Mitch Heifetz
represented SL Green.
About SL Green Realty
Corp.
SL Green Realty Corp., an S&P 500 company and New York
City's largest office landlord, is a fully integrated real estate
investment trust, or REIT, that is focused primarily on acquiring,
managing and maximizing value of Manhattan commercial properties.
As of June 30, 2019, SL Green held interests in 96 Manhattan
buildings totaling 46.0 million square feet. This included
ownership interests in 27.2 million square feet of Manhattan
buildings and 18.8 million square feet securing debt and preferred
equity investments. In addition, SL Green held ownership interests
in 7 suburban properties comprised of 15 buildings totaling 2.3
million square feet in Brooklyn, Westchester County, and
Connecticut.
SLG – LEAS
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SL Green Realty Corp. Matt Diliberto slgreen@berlinrosen.com
646.452.5637
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