Director Real Estate

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 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.

• 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.

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

• 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.

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

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

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

Bachelor’s degree strongly preferred.

• 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.

• 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.

• 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 $ - $ / Year with the opportunity for eligible associates to earn…