The RealReal is returning to San Francisco’s Union Square three years after shuttering its retail flagship.
The locally based luxury consignment store is expected to reopen in its old location at 253 Post Street later this month, the San Francisco Business Times reported. The company didn’t sign a new lease, as it is still the existing tenant in the space from its original term. The 253 Post building recently bore signage advertising open space for rent, but a new RealReal banner there reads, “We are so back. Get ready to shop and sell with us again, San Francisco,” according to the Business Times.
An affiliate of Beverly Hills-based investor Bijan Chadorchi acquired the six-story Post Street building in October for $30.5 million. Chadorchi has made moves in San Francisco before. In August, a Chadorchi affiliate sold another commercial building at 180 Redwood Street to the Service Employees International Union for nearly $13.3 million, the Business Times reported.
Spanning 38,000 square feet, the building, which includes addresses at 245 and 251 Post Street, has nearly 10,000 square feet of fully leased ground-floor retail space split between The RealReal and luxury knitwear brand St. John’s. The Post Street property also has 28,298 square feet of offices with tenants including software firm Globeia.
The RealReal closed its San Francisco store in February 2023 and shrunk its headquarters offices in the city as the firm looked to trim its real estate portfolio. The RealReal’s corporate headquarters are at 55 Francisco Street in Telegraph Hill. The company also has a consignment office at 1777 Montgomery Street and has a brick-and-mortar Bay Area location in Palo Alto.
Post Street is one of Union Square’s high-end corridors, with the 200 block specifically standing out as a hotspot for luxury stores. Rolex, Patek Philippe and Breitling recently planted flags on the street, joining Cartier, Harry Winston, Ferragamo and Graff. Chanel is also going to move into 340 Post Street and open a flagship store after acquiring the building in 2022 for $63 million.
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