The property is located at the corner of Stockton Street and Maiden Lane in Union Square, one of the world’s premier shopping destinations. Local upscale retailers including Gump’s and Wilkes Bashford; international fashion houses such as Hermès and Dior; and mainstream tenants such as Apple and Zara contribute to the area’s vibrancy.
Originally constructed in 1908, 240 Stockton Street was built using recycled aggregate concrete from the buildings razed during the 1906 earthquake in San Francisco. In 2013, the building was awarded LEED Gold certification after all 67 credits that were submitted in support of the certification were accepted.
Grosvenor’s existing Union Square portfolio consists of 180, 185 and 251 Post Street, which feature tenants such as Dior, Coach, Hermès and North Face. Investing in high quality assets in dynamic, vibrant cities with strong education systems and accessibility is an important part of Grosvenor Americas’ investment strategy.