Embrace Real Estate and 1823 Partners acquire Ghirardelli Square from Jamestown in partnership with Continuum Partners
Type: Acquisition · Technology: Hospitality · Country: United States · Announced: 2026-04-27
Embrace Real Estate and its affiliate 1823 Partners completed the acquisition of Ghirardelli Square, a historic 12-building mixed-use waterfront property in San Francisco’s Fisherman’s Wharf district, from Jamestown for an undisclosed sum. The 164,000-square-foot landmark, listed on the National Register of Historic Places, includes the Ghirardelli Chocolate Co.’s flagship store, restaurants, retailers, a Fairmont Heritage Place hotel, and the iconic 19-foot illuminated Ghirardelli sign. The new ownership group, led by Embrace Real Estate and Continuum Partners, will oversee the property’s business plan, leasing, and day-to-day operations, focusing on elevating merchandising and introducing best-in-class tenants. Ghirardelli Square, which attracts nearly 9 million visitors annually, is positioned as a premier destination under the new stewardship, with plans to enhance community relevance and long-term value. The transaction marks a generational transfer of one of the country’s most recognized mixed-use destinations, with Jamestown having previously restored the property and increased occupancy from 55% to 100% during its decade-long ownership.
Counterparties
- Embrace Real Estate (Buyer)
- Continuum Partners (Partner)
- Jamestown (Seller)