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Fairmont Heritage Place Ghirardelli Square

San Francisco, CA

Ghirardelli Square is a world-renowned national historic landmark sitting on one of the most coveted waterfront properties in San Francisco. Transformational project given landmark designation of the site and change in tenant mix from tourist centric to high-end.

Asset Type

Hotel / Private Residence Club






Mixed use retail (101,000 SF across 12 buildings and 283 parking spaces) and a 53 private residence club.


Retail: Sold 2010
Private Residence Club: 2012 / 2020 / 2023

Key Investment Thesis

Ghirardelli Square is a historic San Francisco destination, offering shopping, art galleries, family events, walking tours and more. Steeped in the history of the Ghirardelli chocolate family, dating back to the mid-1800s, Ghirardelli Square was the original site of the family’s chocolate, cocoa, mustard, and box factories. Today, it is a popular destination for visitors and Bay Area residents who desire a unique shopping and dining experience. As one of the first successful mixed-use redevelopment projects in the United States, Ghirardelli Square has been a San Francisco landmark for more than 100 years and to ensure its preservation for future generations, the Square was granted National Historic Register status in 1982. Fairmont Heritage Place opened in 2008 and was Fairmont’s first urban private residence.

JMA Value Creation

Acquisition due diligence and feasibility analysis of the entire development site
Development and construction management
JMA in-house specialists worked hand-in hand with contractors and designers on redevelopment concept
Sourced and negotiated sponsorship from Fairmont to be the brand and manager of the 54 fractional hotel project
Asset managed all aspects of the project including retail lease and financial oversight
Hired and currently manage a JMA inhouse sales team for the fractional sales of the Fairmont Heritage Place