Grosvenor's North American property business announced the official opening of BULGARI’s new luxury Italian jewelry and accessory retail store at 206 Grant Avenue in the heart of San Francisco’s Union Square neighborhood.

In spring 2024, BVLGARI secured a long term lease at the Union Square property for its new San Francisco location, spanning 3,500 square feet on the ground floor. Grosvenor reconfigured the space to accommodate the unique needs of the brand and worked directly with BVLGARI to build out the store over the last year.

The newly completed retail store is now open to the public. It includes two private client salons, bespoke chandeliers featuring 300 crystal wands by renowned Italian glassmaker Venini, and a striking decorative panel by Milan’s Pictalab studio that artfully blends the maps and skylines of Rome and San Francisco.

“It’s been rewarding to help bring BVLGARI‘s vision for its new San Francisco location to life,” said Nathan Lundell, Vice President, Asset Management at Grosvenor in San Francisco. “We are thrilled to welcome them to the building and the initial response from shoppers and visitors has been incredibly positive. Additionally, the brand’s long-term commitment to the location is a testament to the vibrancy of the Union Square market and further proof that luxury high street retail is alive and well.”

Laura Barr, Alex Sagues and Madeline Mandanis with CBRE represented Grosvenor in the lease transaction. 

Numerous high-end brands are reaffirming their presence in Union Square following a dip in retail vacancy since the pandemic. Luxury retailers like Rolex, Patek Phillipe, Max Mara, John Varvatos, Burberry, and Bottega Veneta have established or expanded their presence in the area, while in recent months, major retailers including Zara, Nintendo and Shoe Palace announced openings. 

Over the past year, Grosvenor has made strong leasing progress across its Union Square portfolio, securing numerous retail and office leases throughout its four high-quality assets in the submarket.

Grosvenor’s West Coast high street retail portfolio also includes 240 Stockton Street where Gucci is situated and 306 North Rodeo Drive in Beverly Hills, which is home to the distinguished jeweler Harry Winston.  

An active investor and developer in the San Francisco Bay Area since the 1970s, Grosvenor has added impactful residential and mixed-use development projects to the region, including Crescent in Nob Hill, 1645 Pacific Avenue and 288 Pacific Avenue. The firm recently completed construction on Ace, a 163-unit furnished rental community in Berkeley and is furthering plans on its North 40 Phase II project that will deliver 450 new homes in Los Gatos.