It’s the way we think 
that sets us apart.

TMG Partners has been in the business of developing award-winning, financially-successful, community-based real estate for 40 years. As much as we have accomplished over the last four decades, we believe it is the way we THINK about our region, the risks we manage, the critical timing of our projects and the value we create that sets us apart.
Localism

Real Estate is
a local business.

No, really.

The San Francisco Bay Area is an extremely diverse real estate marketplace with countless micro-business climates teeming with possibility. But you have to be here—and know here—to make the most of the opportunities all around us. Having been exclusively committed to the Bay Area for four decades, we have developed a keen local intuition which gives us a unique advantage in recognizing both the opportunities and risks in this complex market.
Regionalism

We Think 
Mega

If we try to solve our land use problems by focusing
only on the nine Bay Area counties, we will fail.

Michael CovarrubiasChairman & Co-CEO

As the Bay Area’s economy has grown over the last four decades, so too has its challenges—particularly related to transportation, housing, affordability and climate change. To plan for growth of 4 million more people in the next third of a century, TMG is thinking bigger, beyond our nine Bay Area counties, and working on longer term strategies to create greater connectivity across our entire megaregion.
Timing

It’s got to work at low tide as well as high tide.

Some of our best deals are the ones we didn’t do.

Matt FieldCo-CEO

Almost anyone can make money in a positive economic climate. But it takes discipline, depth of market knowledge and experience in all major product types to know when to buy and when to sell. The most profitable deals can be the ones you decide just don’t make sense or are outbid by an “out of town” competitor. Because we are active in our markets on a daily basis, TMG Partners has managed a portfolio through 40 years of market cycles that works in all phases and has withstood the sands of time.
Vision

huh?

Once it’s obvious, it’s too late.

Cathy GreenwoldSenior Advisor

If you wait for the statistical proof to confirm real estate opportunities, you’re looking backwards. TMG Partners has cultivated an approach to studying the business landscape that reveals market opportunities before they become obvious. Our contrarian investment strategy balances optimism and caution with the intent of turning forward-looking investments into no-brainers.
Returns

Redefining IRR

Our measure for success goes beyond profit.

Lynn TolinChief Operating Officer &
Executive Vice President

Most investment professionals have a clear understanding of IRR: Internal Rate of Return, a purely financial measurement of performance. At TMG we use a different definition. For us, IRR means balancing Integrity, Relationships and Results. We measure every aspect of our business through this lens to ensure our partners, communities, tenants and buyers are treated with the highest degree of respect and responsibility while we consistently deliver superior financial performance.
Think
Localism
Regionalism
Timing
Vision
Returns
Close

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News & Awards.

TMG Partners has won awards for many projects
including honors for “Best Mixed Use,”
“Best Office,” and “Best Historic Rehabilitation”.
In the News. Press Releases. Awards.
Union Square

Permits filed with the city indicate streetwear brand Kith will expand to San Francisco for its first Bay Area location. 

San Francisco Standard
High-end streetwear company plots retail store and possible restaurant in Union Square
by Jessica Blough

New York-based streetwear retailer Kith is planning to open its first San Francisco location in Union Square, according to permits filed with the city’s Department of Building Inspection.

The permits, which are being reviewed, include references to a 5,600-square-foot retail space and expansion into a neighboring space for a possible restaurant. It would be Kith’s 21st store and its first in Northern California. 

The store will be located in a large ground-floor retail space in the 100 Stockton building, which was previously home to the Macy’s men’s department before it closed in 2012. In 2016 the building was purchased and developed(opens in new tab) into office and multiple ground-floor retail spaces by Blatteis & Schnur. Five adjacent retail spaces at 100 Stockton are currently unoccupied.

Blatteis & Schnur opened the redeveloped 100 Stockton in 2023 and filled 65,000 square feet of the space with hospitality company Convene, which also occupies one of its ground-floor retail spaces. Japanese-Peruvian restaurant Chotto Matte occupies the building’s rooftop. 

Union Square, the city’s premier luxury shopping district, has started to attract the attention of new tenants after several years of sluggish activity and elevated vacancy in a signal of San Francisco’s retail turnaround.

Kith, which recently collaborated with Nike on a pair of linen sneakers(opens in new tab), is best known for its men’s streetwear created by founder Ronnie Fieg. It began as a footwear retailer before later developing its own apparel lines and moving into home goods and even sweets. 

Kith’s offerings include men’s streetwear, women’s and kid’s clothes, candy, and restaurants. | Source:Photo by Chesnot/Getty Images

The brand has secured storefronts across the country, though critics in online streetwear forums accuse it of declining quality since its 2010s heyday. Redditors considering a San Francisco Kith two years ago were skeptical(opens in new tab). 

Fieg redesigned Kith’s West Hollywood flagship store earlier this year to include a wellness and skin care concept as well as a VIP shopping experience, according to Fashionista(opens in new tab). 

The plans for the Union Square space include a reference to a future food facility in one of the building’s adjacent spaces. In the last year, Fieg added a sandwich shop(opens in new tab) to the West Hollywood location and opened a retro Mediterranean restaurant(opens in new tab) in the space next to one of his New York stores. Sadelle’s, Kith’s original restaurant expansion, has four locations(opens in new tab) across the world. The New York location includes NYC’s only Erewhon — inside a private club(opens in new tab). 

Kith did not respond to requests for comment, and representatives from Blatteis & Schnur declined to comment. 

The space’s leasing broker, Kazuko Morgan, said Union Square has continued to be a hotbed of retail activity.

“There’s been strong retail leasing demand, particularly this year,” Morgan said, citing an influx in tourism as well as “wealth getting dumped into the local economy.”  

Union Square has been a traditional destination for luxury brands like Louis Vuitton, Hermes, and Neiman Marcus. But the arrival of Kith and the recent opening of fellow streetwear company A Bathing Ape(opens in new tab) (or BAPE) is indicative of a shift to a new generation of high-end apparel.  

Marisa Rodriguez, CEO of the Union Square Alliance, said that Kith’s interest signals “positive momentum” in the area. 

“While the deal has not yet been finalized, it is encouraging and aligns with the caliber of new retailers choosing Union Square, including recent additions like BAPE,” Rodriguez said in an email. 

Union Square has been emblematic of downtown San Francisco’s slow but persistent post-pandemic comeback. A 2026 report(opens in new tab) from Cushman & Wakefield put the vacancy rate of Union Square at 20%, down from 23% last year.

The new Kith location will be directly across from Macy’s, which announced plans to abandon its Union Square location but, after failing to find a buyer for the space, stuck around.

Nordstrom and Bloomingdales are reportedly eyeing spaces(opens in new tab), and TheRealReal moved back(opens in new tab) into its Union Square spot after leaving it in 2023. Sherri McMullen announced earlier this year(opens in new tab) that she would open a boutique on Maiden Lane.