Newmark is pleased to announce it has signed Ulta Beauty to a 12,700-square-foot, long-term lease at 1365 Post Road East in Westport, Connecticut. Newmark Senior Managing Director Jessica Curtis, Director Nick Marona and Associate Robert Marona represented landlord Forstone Capital in the transaction. Adam Zeiberg, partner at TRUE Commercial Real Estate, represented Ulta Beauty.
Ulta Beauty is a national retailer and the premier destination for cosmetics, fragrance, skin, hair care products and salon services. Since opening its first store 25 years ago, Ulta Beauty has seen continual expansion, offering more than 20,000 products from over 500 well-established and emerging beauty brands across all categories and price points. The Westport store will be the company’s fourth location in Fairfield County, where it will have access to an affluent customer base in a high-barrier-to-entry corridor. Per Adam Zeiberg, “Ulta Beauty is targeting exceptional retail sites to expand its footprint throughout the country, and this location provides this market access to one of retail’s strongest brands.”
“We are thrilled to announce Ulta Beauty as a tenant at our property,” said Brandon Hall, principal of Forstone Capital. “We feel strongly that the store will see great success at this location as a complementary fit with our current retail roster, which is anchored by gourmet grocery store Balducci’s and interior design retailer Parc Home.”
Previously occupied by upscale fashion and lifestyle retailer Anthropologie, 1365 Post Road East is a stand-alone retail building located on a highly visible site in the Town of Westport, one of Connecticut’s strongest retail markets. The property sees over 22,000 vehicles per day via Post Road East, also known as Route 1, and offers ample, dedicated on-site parking.
“We are pleased to bring such a high-quality, credit-worthy tenant in the form of Ulta Beauty to the table for Forstone Capital, resulting in a dynamic, upscale and active retail center,” noted Curtis. “This property has been one of the jewels of Post Road for a long time, and we are proud to be able to bring in a tenant who will continue to make this property a stand-out asset.”
Newmark is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, Newmark’s strong foundation makes it one of the most trusted names in commercial real estate. Newmark’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
Newmark is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.
About Forstone Capital
Forstone Capital, LLC is a real estate investment firm located in Darien, Connecticut that provides a full range of commercial real estate services to private equity investors and select individual clients. Since its inception in 2007, Forstone Capital has acquired and managed over 1,300,000 square feet of office, retail, and multi-family properties throughout Connecticut.
At Forstone, we specialize in identifying well-positioned real estate projects that are under performing as a result of being undercapitalized, undermanaged or functionally obsolete. We strive to provide our clients with valuable investment opportunities through off-market deal sourcing, intimate market knowledge and hands-on execution of their asset strategies through proprietary leasing, development, construction, and property management services.
Learn more about us online at www.forstonecapital.com