Priscilla, which operates 12 stores and also wholesales tospecialty boutiques, plans to be open by the end of this year onthe second and third floors of the six-story, 20,323-sf buildingwhich has two addresses, 185 Post and 170 Grant. In addition toDeBeers, Priscilla will be co-tenants with Fugazi Travel (fourthfloor) and developer City Center Retail (sixth floor).

Priscilla's negotiated lease rate was not released by theparties involved, however; generally speaking, and depending onwhether the tenant is office or retail, the upper floors in awell-located Union Square retail building lease for 15- to 20% ofwhat it would be to lease street-level space, which generallyranges from $350- to $450 per sf, local retail brokers have toldGlobeSt.com.

Grosvenor acquired the building in 2005 for $11 million. Theseller, Prada, acquired the building in 1996 with plans to open amulti-level flagship at the location, but the project nevermaterialized, according to local industry sources. Grosvenor'srenovation included a seismic upgrade. The cost of the renovationwas not immediately available.