Sterling Organization, a vertically integrated private equity real estate investment firm headquartered in Palm Beach, Fla., is pleased to announce it signed a lease agreement with Ulta Beauty, the largest beauty retailer in the United States, for 10,000 square feet at Golf Mill Shopping Center in Niles. Ulta Beauty was represented by Bill Argall of GreatStreet Realty.
Ulta Beauty’s new store will be located at Golf Mill Shopping Center’s main entrance along Milwaukee Avenue in what is currently the southern half of the mall’s food court. Construction on the space has begun, and is part of Sterling Organization’s redevelopment plan for the property. The firm plans to announce more details about its redevelopment plans as well as additional tenants coming to the mall at a later date.
“Ulta is one on the most successful and sought after retailers in the U.S. and their decision to open a store at Golf Mill Shopping Center is an important part of our long-term strategy to revitalize this iconic shopping center,” said Michael Horne, Sterling Organization’s Regional Director, Midwest who is based in the firm’s Chicago-area office. “Ulta was the catalyst for our plans to transform a portion of the food court into an exciting, high-visibility retail space which will serve to attract other high-profile retailers to the center.”
Golf Mill Shopping Center is a 1.1 million-square-foot regional retail power center with both a grocery and an enclosed mall component, anchoring a critical mass of the 2.4 million square-foot retail space located at the intersection of Golf Road and Milwaukee Avenue in Niles. Golf Mill Shopping Center is situated on approximately 80 acres of land on the south side of Golf Road bounded by Milwaukee and Greenwood Avenues. The center is anchored by Target, Kohl’s, AMC Theaters, Ross Dress for Less, JCPenney, Sears, XSport Fitness, Shop-N-Save, GFS Marketplace and Value City Furniture. The property also includes a nine-story medical/professional office building.
In addition to Ulta Beauty, Sterling recently signed a lease with Panera Bread for a new, standalone bakery-café at Golf Mill. The new 4,360 square-foot restaurant has a drive through and an outdoor dining area. Panera Bread opened for business in January. Sterling Organization acquired 912,382 square feet of Golf Mill Shopping Center in August 2014 via the firm’s institutional fund Sterling Value Add Partners, LP.