Union Square

Location

San Francisco, CA, USA

North of Market Street, South of Bush Street, East of Powell St. and West of Montgomery St.

Estimated Gross Rent

$400-$500 PSF

Most Desirable Block(s)

Post, Powell, Geary, Post, Stockton and Grant Avenue

Location

San Francisco, CA, USA

North of Market Street, South of Bush Street, East of Powell St. and West of Montgomery St.

Estimated Gross Rent

$400-$500 PSF

Most Desirable Block(s)

Post, Powell, Geary, Post, Stockton and Grant Avenue

Description

Union Square remains San Francisco’s premier luxury shopping destination, featuring high-end brands like Breitling, Patek Philippe, Rolex, and A. Lange & Söhne alongside major national retailers such as Apple, Chanel, Hermès, and Nike. Despite its longstanding status, the area has faced challenges i

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street Details

Annual foot traffic

500,000 people/year

Daily vehicle traffic

15,000 vehicles/day

Population

25,000 people within

Day time population

35,000 people within

Household income (median)

$75,000.00 annually

Age (average)

> 35 years old within

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Available Spaces

Sample Space 1

1000 SF

Suitable for retail, restaurant, office

Sample Space 2

1500 SF

Suitable for retail, restaurant, office

Sample Space 3

2000 SF

Suitable for retail, restaurant, office

News & Alerts

0 of 0

Local expert Kazuko Morgan reports a strong rebound in San Francisco and Union Square , where availability is tightening and tenant activity is surging.

Union Square

San Francisco leads the nation in return-to-office growth, up 40%+, fueled by AI companies taking significant space. Major events like Outside Lands, the Laver Cup, Super Bowl, and FIFA World Cup are boosting demand.

Downtown still offers attractive opportunities, but concessions are shrinking and many spaces are returning to multiple-offer situations.

Explore more: https://www.brandmarch.com/street/union-square

2 months ago

Nintendo San Francisco store to open in Union Square this year

9 months ago

Luxury Retail Returns: Kazuko Morgan on San Francisco’s Resurgence

9 months ago

Yadav Diamonds Opens in Union Square

10 months ago

Chanel to Begin Construction on San Francisco Flagship in Mid-2025

11 months ago

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Local Experts

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Brokers Active on Union Square

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Local Expert Analysis

Retail Leasing and Market Dynamics Despite its historical prominence, Union Square’s retail market has experienced turbulence, with vacancy rates now exceeding 20%. Several factors, including office space vacancies, a shift to online shopping, and high-profile store closures, have impacted leasing activity. However, new investments from retailers like Banana Republic and Ikea and public funding to improve the Powell Street Promenade are helping revitalize the area. Union Square’s commercial rent levels remain some of the highest in San Francisco, with rates between $400 and $500 per square foot. The significant decline in office activity has affected foot traffic, but with the tourism sector rebounding and more workers returning to offices, the area’s leasing outlook is improving. Customer Demographics and Foot Traffic The area draws high-income tourists, young professionals, and shoppers looking for luxury goods. Though foot traffic dropped during the pandemic, it has since improved. Initiatives to boost foot traffic, including festivals and public events, have helped draw back visitors. The district is also a central hub for conventions and major city events, further boosting its appeal to both retailers and customers. Recent and Upcoming Developments A major aspect of Union Square’s future involves public-private partnerships aimed at revitalizing vacant storefronts. The city has earmarked $2 million to incentivize new retail tenants, offering subsidies to help businesses with startup costs. Additionally, zoning changes are being considered to open up Union Square to a broader range of retail and entertainment uses, as well as converting vacant upper floors to residential or office space. Future Outlook Union Square is poised to see gradual improvements in the next 12 months, with city-led initiatives aiming to reduce vacancies and improve the public environment. With the continued return of tourists and office workers, retail foot traffic is expected to climb, and leasing activity should stabilize as more retailers look to take advantage of the available space at lower rents.

Retail Leasing and Market Dynamics

Despite its historical prominence, Union Square’s retail market has experienced turbulence, with vacancy rates now exceeding 20%. Several factors, including office space vacancies, a shift to online shopping, and high-profile store closures, have impacted leasing activity. However, new investments from retailers like Banana Republic and Ikea and public funding to improve the Powell Street Promenade are helping revitalize the area.

Union Square’s commercial rent levels remain some of the highest in San Francisco, with rates between $400 and $500 per square foot. The significant decline in office activity has affected foot traffic, but with the tourism sect