Ulta Beauty inks $400M Times Square lease at Jeff Sutton’s 1551 Broadway

Beauty retailer Ulta Beauty has inked a massive $400 million lease at Jeff Sutton’s marquee Midtown retail property in Times Square, The Real Deal has learned. The Illinois-based cosmetics and skincare retailer will occupy all four floors of the 26,000-square-foot building at 1551 Broadway, owned by Sutton’s Wharton Properties. The 15-year lease also includes the building’s 250-foot LED sign, a source with knowledge of the deal said.  Ulta will replace American Eagle, which currently has its flagship store in the building. Neither Sutton nor an Ulta representative immediately responded to a request for comment. At its most recent earnings call, […]

This article originally appeared on The Real Deal. Click here to read the full story.