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SAN FRANCISCO-Priscilla of Boston is coming to San Francisco. The luxury bridal salon chain has leased 7,000 sf above the recently opened DeBeers jewelry flagship in the tony Union Square shopping district. The building owner, Grosvenor, recently completed a full renovation of the building, preserving its original 1908 brick exterior by encasing it with layers of translucent and frosted glass. Only the fifth floor remains available for lease.

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

Priscilla’s negotiated lease rate was not released by the parties involved, however; generally speaking, and depending on whether the tenant is office or retail, the upper floors in a well-located Union Square retail building lease for 15- to 20% of what it would be to lease street-level space, which generally ranges from $350- to $450 per sf, local retail brokers have told GlobeSt.com.

Grosvenor acquired the building in 2005 for $11 million. The seller, Prada, acquired the building in 1996 with plans to open a multi-level flagship at the location, but the project never materialized, according to local industry sources. Grosvenor’s renovation included a seismic upgrade. The cost of the renovation was not immediately available.

Grosvenor owns two other Union Square buildings, both of which are also older, multi-story buildings anchored by retail tenants. The other buildings are 180 Post Street and 251 Post Street.

In other Union Square retail news, Joe’s Jeans Inc. recently inked a lease for the first floor of 239 Grant St. The 1,533-sf location will be home to its second full price branded store.

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