Britex Fabrics has occupied the four-story building at 146 Geary Street since 1952. But late last year, the Union Square property was sold to Acadia Realty Trust and City Center Realty Partners for $38 million.

And yesterday, an application to convert the second, third and fourth floors of the iconic building from retail to office use was submitted to the city as the new ownership team moves forward with their plans to redevelop the property.

In addition, the new owners are angling to change the lettering on the iconic Britex sign, “so that it would meet the needs of [a] new tenant.”