Grosvenor signs up Bulgari for San Francisco store

UK-based Grosvenor may be best known for its ownership of vast tracts of London’s West End but it also has major international businesses and one of them has struck a key deal with Bulgari.

Grosvenor’s North American property business has announced a new long-term lease with the ultra-luxury Italian jewellery and accessory brand for 200 Grant Avenue in San Francisco, California. It’s in the heart of San Francisco’s Union Square neighbourhood.

The move, coming after recent news of Chanel’s three-storey expansion and the entrance of prestigious watch brands like Patek Philippe and Breitling, “signifies a trend of confidence and growth in the area”.

The brand is taking over 9,000 square feet across multiple levels at the downtown property. Grosvenor is currently “reconfiguring the retail portion of the building to accommodate the unique needs of Bulgari as part of the lease agreement”.

Bulgari adds to the mix of ultra-luxury retailers nearby, joining brands such as Cartier, Harry Winston, Fendi and Dior, “solidifying the area’s status as a top destination for visitors,” said Nathan Lundell, Vice-President, Asset Management at Grosvenor in San Francisco.

“We believe strongly in the San Francisco retail market and continue to develop Bulgari’s presence with a long term vision in the city,” added Vincenzo Pujia, Global Sales & Retail Vice-President at Bulgari. “This new location, in the heart of the city, is the perfect environment for the brand to express itself and welcome our clients.”

CBRE represented Grosvenor in the transaction and its Americas retail leader Laura Barr called the location “one of the most productive and elevated retail intersections on the West Coast. This will serve as a capstone not only for Grant Avenue but another win for the Post Street corridor, which continues to strengthen.”

Grosvenor’s Union Square property portfolio also recently secured St John Knits for a 1,500-square-foot lease at 245 Post Street and is targeting an early autumn 2024 opening.