Job Description

OVERVIEW

Discover greater levels of performance. With over 1,200 stores throughout the U.S., Ulta Beauty is revolutionizing the beauty retail experience. With new stores coming online on a continual basis and the re-engineering of existing locations with the latest design and technological advancements for heightened guest experiences, we’re not just growing, we’re thriving. Through consistent innovation and a bold commitment to reimagination. If you want the opportunity to build something strategic, to take ownership of your career trajectory, to apply your passion to operational excellence, Ulta Beauty provides the kind of stability and support few organizations can match. So be curious. Be flexible. Be more than you thought possible. The future is yours at Ulta Beauty.

THE IMPACT YOU CAN HAVE

The Director of Real Estate is responsible for leading and executing the full real estate lifecycle within an assigned territory of approximately 500 stores. This includes market analysis, site selection, LOI negotiation, Real Estate Committee (REC) approval, and lease execution for new store openings and lease renewals. Reporting to the Head of Real Estate, this role supports strategic planning in collaboration with landlords, developers, and brokers to drive Ulta Beauty’s growth initiatives and optimize the company’s real estate assets.

YOU’LL ACCOMPLISH THESE GOALS BY

Strategic Planning & Execution

• Partner with the Head of Real Estate to develop and implement strategies, priorities, and initiatives for new store openings, lease renegotiations, and asset management.
• Execute real estate strategies within the most demanding and complicated territories, including site selection, lease negotiations, renewals, remodels, relocations, and cost optimization.

Leadership & Team Development

• Mentor and guide Real Estate Managers within the reporting structure to foster growth and performance.

Analysis & Presentation

• Prepare and present comprehensive site packages to the Real Estate Committee, including financial, legal, and market analyses, and ROI evaluations for proposed leases.
• Continuously analyze market trends, competition, and existing store performance to inform strategic decisions.

Relationship Management

• Manage and coordinate a broker network within the assigned territory.
• Build and maintain strong relationships with landlords and other retail partners.

Cross-Functional Collaboration

• Partner with Legal, Finance, Operations, Store Services, and Construction teams to ensure seamless execution of lease processes through store openings.

Asset Management

• Oversee ongoing asset management for all stores within the territory.
• Lead special real estate projects as needed to support organizational goals.

THE ESSENTIAL FOR SUCCESS

Education

Bachelor’s degree strongly preferred.

Experience

• 10+ years of commercial retail real estate experience in site selection, development, or retail leasing for large-format (“big box”) stores.
• Established ability to develop high-performing teams and manage direct reports effectively preferred.
• Strong understanding of shopping center leasing processes and procedures.
• Proven success in directing and completing lease negotiations.
• Demonstrated ability to troubleshoot and solve complex problems.
• Excellent verbal and written communication skills.
• Track record of building strong relationships with internal teams and external partners.
• Ability to manage multiple priorities and work independently as well as collaboratively.
• Willingness and ability to travel extensively.
• Knowledge of legal, market research, and finance principles is a plus.

Skills

• Strong business acumen and analytical skills.
• Exceptional communication and interpersonal skills.
• Highly organized with the ability to manage multiple projects and deadlines.
• Ability to remain calm under pressure, exercise sound judgment in ambiguous situations, and adapt to changing priorities.

Special Requirements

• Ability to travel up to 75%
• Flexible schedule availability, including evenings, weekends, and holidays.
• Ability to attend business meetings and industry conferences.

The pay range for this position is $143,000.00 - $200,000.00 / Year with the opportunity for eligible associates to earn additional compensation pursuant to the Company’s bonus plan. Exact pay will be based on factors including, but not limited to relevant education, qualifications, certifications, experience, level, shift, geographic location, and business and organizational needs. Full-time positions are eligible for paid time off, health, dental, vision, life and disability benefits. Part-time positions are eligible for dental, vision, life, and disability benefits. For additional information concerning our benefits, visit our Benefits and Career Development page:

ABOUT

At Ulta Beauty (NASDAQ: ULTA), the possibilities are beautiful. Ulta Beauty is the largest North American beauty retailer and the premier beauty destination for cosmetics, fragrance, skin care products, hair care products and salon services. We bring possibilities to life through the power of beauty each and every day in our stores and online with more than 25,000 products from approximately 500 well-established and emerging beauty brands across all categories and price points, including Ulta Beauty’s own private label. Ulta Beauty also offers a full-service salon in every store featuring—hair, skin, brow, and make-up services.

We will consider for employment all qualified applicants, including those with arrest records, conviction records, or other criminal histories, in a manner consistent with the requirements of any applicable state and local laws, including the City of Los Angeles’ Fair Chance Initiative for Hiring Ordinance, the San Francisco Fair Chance Ordinance, and the New York City Fair Chance Act.

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