CBRE Announces Ghirardelli Square is Fully Leased

San Francisco’s historic Ghirardelli Square has gone through many transformations in its 124 years, from chocolate factory to tourist destination to locally-inspired retail and dining center. Now the historic center has reached a new high point: it is fully leased for the first time in at least 20 years.

CBRE this summer helped to secure local retailers Succulence and Palette to take the last available spaces at Ghirardelli Square, which spans 106,563 sq. ft. in total. Those additions are a key milestone in the efforts of owner Jamestown LP and CBRE, which has handled leasing at the center since Jamestown bought it in 2013.

Laura Sagues Barr and her team in CBRE’s San Francisco office have worked with Jamestown over the past seven years, including specific project leadership in the last three years by Hollie Bried, to cultivate Ghirardelli Square as a destination not only for tourists but also for local residents seeking unique, local dining, shopping and experiences. That has resulted in a diverse mix of merchants at Ghirardelli Square including local food & beverage (Pico Latin Street Food and San Francisco Brewing Co.), local style merchants (Gigi & Rose and Mashka Jewelry), and traditional favorites (Ghirardelli Chocolate Marketplace).

“CBRE identified unique, local businesses like Succulence and The Cheese School to animate Ghirardelli Square,” said Michael Phillips, President of Jamestown. “Helping these local entrepreneurs grow and succeed is core to Jamestown’s retail success and we are excited to continue that tradition.”

Ghirardelli Square was more than 40 percent vacant when Jamestown purchased it and hired CBRE. The two experimented in the years since to find the right mix of uses to suit both local and tourist tastes, previously testing chef-helmed restaurants, juice bars and other uses. With Ghirardelli Square now fully occupied, the tenant mix includes 52 percent food & beverage, 10 percent retail, and 38 percent service, entertainment or “other”—part of which is consumer-facing office space.

“Ghirardelli Square has been a passion project for our team,” said Sagues. “Jamestown’s vision coupled with the unique community of retailers we’ve curated have not only transformed the environment but in concert with the great work Jamestown has done on overall activation, has most importantly grown traffic and sales.”

“We came on to the project when it was about midway through, but we understood the Jamestown and CBRE vision from the moment we heard it,” said Kiri Fisher, co-founder of The Cheese School. “Jamestown has managed to modernize the square, but at the same time keep it approachable and fun. There's truly something for everyone here. I doubt we could have taken on a project of this size without Jamestown’s expertise, dedication and skill. The square feels totally refreshed and ready to serve the needs of a very diverse customer base.” 

Ghirardelli Square is considered the first successful adaptive reuse project in the country—from factory to community space—and is listed on the National Register of Historic Places. It is now a vibrant center with a variety of restaurants and shops, including a few original markets from when it was first opened to the public.

Below is the current list of Ghirardelli Square tenants:

• Bank of America
• Compass Realty
• Culinary Artistas
• Elizabeth W
• Ghirardelli Chocolate Ice Cream & Chocolate Shop
• Ghirardelli Chocolate Marketplace
• Ghirardelli Chocolate On The Go!
• Gigi & Rose Women’s
• Gigi & Rose Children
• Jackson & Polk
• Lola of North Beach
• Marina Morrison
• Mashka Jewelry
• McKormick & Kuleto's
• Palette Tea House
• Pico Latin Street Food
• Plaza Press
• San Francisco Brewing Company
• Subpar Mini Golf + Arcade
• Succulence
• The Cheese School
• The Pub
• Unlimited Biking
• Vom Fass
• Wattle Creek Winery
• Yap