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new era is unfolding in San Francisco's Union Square, where moderate leaders' election victories have sparked a surge in luxury retail investment. Goyard, the French trunk and leather goods maker, is expanding its presence by leasing two adjacent storefronts at 118 and 120 Grant Avenue, totaling 2,500 square feet. The deal marks a significant move for the brand, which joins other high-end retailers like Burberry and Chanel in revitalizing the area.
The election of Mayor Daniel Lurie and Supervisors Bilal Mahmood and Danny Sauter has created a more favorable business climate, according to Kazuko Morgan, a broker at Cushman & Wakefield. "It's 100 percent the local election," she said, noting that dealmaking has picked up significantly since the vote. Marisa Rodriguez, CEO of the Union Square Alliance, shares this optimism, citing renewed energy and confidence in investing in the area.
Recent developments include Burberry's move to a new location at 110 Geary Street and Chanel's unveiling of its future flagship store in the building it purchased in 2022. Other luxury brands have also made moves around Maiden Lane since 2020, including Bottega Veneta and Van Cleef and Arpels. This year has seen St. John's Knits Boutique, Rolex, Patek Philippe, and A. Lange & Söhne join the area's upscale retail landscape.
