Manhattan, NY According to SL Green Realty Corp., Ulta Beauty, Inc. has signed a 12,040 s/f lease at 2 Herald Sq. for a new location.
Located on a corner of Herald Sq. at the intersection of Sixth Ave., Broadway, and 34th St., 2 Herald is a 369,000 s/f mixed-use property. Close to 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 Sq. 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% leased.”
“We are extremely pleased to extend our Manhattan presence into Herald Sq., one of NYC’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. RKF vice chairman Ariel Schuster, managing director Ross Berkowitz, and associates Jason Wecker and Mitch Heifetz represented SL Green.