Owners execute lease with national beauty chain for 3,795-square-foot location expected in summer 2018
CHICAGO (April XX, 2018) – Tucker Development today announced national salon and beauty provider Salon Lofts has signed a lease at Town Square Wheaton, a 203,000-square-foot shopping center with retail and office components at the intersection of Blanchard Circle and Naperville Road in Wheaton, Ill.
The national salon chain, which offers space to independent beauty professionals, will occupy a 3,795-square-foot endcap within the newly renovated retail center. Interior buildout is expected to begin this month, with an anticipated summer 2018 opening.
“When our venture acquired Town Square Wheaton in 2015, it was already a gem with beautiful architecture, a synergistic mix of tenants, and a desirable location within one of Chicago’s premier suburbs,” said Richard Tucker, CEO of Tucker Development, which also manages the center. “As the new owner, our first priority was to create a true community anchor – one where guests can socialize, enjoy seasonal programming and, of course, shop. We are proud to announce the strategic addition of Salon Lofts, which supports local entrepreneurs while bringing a full range of beauty services to our center.”
The new Salon Lofts location will include a total of 22 lofts that can accommodate up to 30 beauty specialists. Founded in 2003, the company has more than 100 locations across the United States.
“We are thrilled to bring another Salon Lofts to the western suburbs of Chicago,” said Salon Lofts CEO Steve Schillinger. “Chicagoland is full of creative, talented Independent Beauty Professionals, and we’re looking forward to giving them the opportunity to focus on their art and grow their own businesses.”
The lease with Salon Lofts coincides with recently completed improvements to Town Square Wheaton, designed by renowned architect Robert A.M. Stern. Most notable is a newly reconstructed center plaza featuring designated gathering spaces, a communal fireplace, fountain and landscaped green spaces. Known as the “Oval,” this area hosts a series of events throughout the year, including concerts, holiday festivals and children’s activities. In addition, new signage has been installed along Naperville Road, enhancing the visibility of the center.
Salon Lofts joins a host of other national brands with locations at Town Square Wheaton, including Victoria’s Secret, Bath & Body Works, White House | Black Market, Francesca’s, Banana Republic, Noodles & Company, Starbucks and Nothing Bundt Cakes. Built in 1992, the center is also home to local businesses like Warren’s Ale House.
About Tucker Development Corporation:
Tucker Development is a leading developer and manager of mixed-use properties and shopping centers in key Midwest and East Coast markets with high barriers to entry. The company pursues investments that provide an opportunity to enhance value through development, redevelopment, repositioning and recapitalization. Tucker Development Corporation’s portfolio exceeds 5 million square feet and continues to grow through the company’s ongoing development and acquisition activity. For more information on Tucker Development, visit tuckerdevelopment.com.
About Salon Lofts:
Salon Lofts offers Lofts to Independent Beauty Professionals so they can run their own beauty businesses in their own space. With unparalleled resources such as online scheduling, business coaching and world-class education these entrepreneurs, who offer health and beauty services that include nails, hair, skin and massage, are empowered to grow their own businesses at Salon Lofts. Founded in 2003, the Ohio-based company is leading the suite rental concept and couldn’t be more excited to continue redefining the future of the salon industry. Salon Lofts has more than 110 locations across 17 markets and is home to almost 3,000 independent businesses and Loft Owners nationwide.