XXI Forever to Open Mega Store on San Francisco's Stockton Street
18 Jun, 2010, San Francisco
XXI Forever, the newest concept store from global apparel retailer Forever 21, has leased the 53,442 square foot retail space at 2 Stockton St. in Union Square. The space, which was previously occupied by Virgin Records, represents one of the most iconic retail locations in Downtown San Francisco.
The free standing building, which is owned by Stockton Street Properties Inc., is located at the intersection of Market and Stockton Streets, directly opposite the Apple Store and Diesel, and close to A/X Armani Exchange and Ben Sherman. The store is adjacent to the Ferrari Store and Barneys New York. With XXI Forever retail spaces expanding up to 120,000 square feet, the Stockton Street location combined with the previously opened Forever 21 store at the historical 1 Powell Street landmark space, can now house the full range of product lines the company has to offer.
"Due to the success of our 1 Powell store, we needed a more expansive shopping environment in order to satisfy customer demand," said Larry Meyer, Executive Vice President of Forever 21, Inc. "We're very pleased to bring the entirety of our fashionable and affordable merchandise to San Francisco shoppers - which will include HTG 81 Kids, Love & Beauty cosmetics, Faith 21 Extended Sizes and 21MEN - with these two remarkable locations."
Cushman & Wakefield brokerage professionals Kazuko Morgan and Courtney Griffin represented the landlord in the transaction. XXI Forever was represented by Michael Townsend of Townsend & Associates.
"There was enormous demand for this prime piece of San Francisco retail real estate," said Ms. Morgan, an executive vice president in Cushman & Wakefield's Retail Services Group. "We had interest from all over the world. XXI Forever had the winning vision and we believe the new store will become one of the biggest draws on Stockton Street, which has solidified its place as one of the world's most desirable retail blocks for major domestic and global brands."
According to Mr. Townsend, "We are very proud to be a part of the expansion of a world class retailer in a world class city."