Runyon is pleased to share a recent article in Women’s Wear Daily recognizing the transformation of Fillmore Street into San Francisco’s premier neighborhood retail street.
Keeping Fillmore’s Fashion Flavor
Take one tech boom, add an anti-chain store law and six-figure payments to vacate existing tenants, insert Sandro, Alexis Bittar, Ella Moss and Aesop, and what do you have? Fillmore Street, aka the hot retail spot in San Francisco.
Undeterred by the fact that annual rents have rocketed to between $120 and $144 a square foot, from $72 to $84 a square foot just two years ago, and that the vacancy rate is about one a year, fashion and beauty brands have been clamoring to claim a spot in this affluent Pacific Heights neighborhood. Among those building stores are The Kooples and Rag & Bone. Moreover, Maje and Rebecca Minkoff have set their sights on what realtor David Fishbein describes as “Bleecker Street on the West Coast.”
The 28-year-old partner at Runyon Group should know. In the past three years, his company has settled 13 fashion and beauty brands — including Curve, Alice + Olivia, Joie, Nars Cosmetics, Le Labo and Jarbo — into the quaint buildings built in the early 1900s.
“People see it as a market where a brand can thrive,” Fishbein said.