<PAGE>   1


                                                                   EXHIBIT 10.58

                            FIRST AMENDMENT TO LEASE

     This First Amendment to Lease (this "AMENDMENT") is made and entered into
as of February 1, 2001, by and between Stanford Ranch I, LLC, a Delaware
limited liability company ("LANDLORD") and Williams-Sonoma, Inc., a California
corporation ("TENANT").

     A.   Landlord and Tenant entered into that certain Net Lease Agreement
dated as of January 4, 2001 (the "LEASE"), whereby Tenant leases those certain
premises located at 3750 Atherton Road, Rocklin, California, as more
particularly described in the Lease (the "PREMISES"). Capitalized terms used
herein, but not defined herein, shall have the meanings ascribed to such terms
in the Lease.

     B.   By this Amendment, Landlord and Tenant desire to amend the Lease as
set forth below.

          NOW, THEREFORE, for and in consideration of the mutual agreements
herein contained, the parties hereto hereby amend the Lease and agree as
follows:

     1.   SNDA. Section 33 (Subordination, Attornment) of the Lease is hereby
          amended by the deletion of the last sentence of Paragraph 33(c) and
          the substitution of the following sentence in lieu thereof:

               Notwithstanding the foregoing, in the event that Landlord has
               not delivered a non-disturbance agreement to Tenant from each
               existing Superior Lienor, upon terms and conditions reasonably
               acceptable to Tenant, on or before February 9, 2001, then for a
               period of ten (10) days thereafter, Tenant, as its sole and
               exclusive remedy, may terminate this Lease by providing Landlord
               with written notice of such election.

     2.   Relationship to Lease. This Amendment supercedes any inconsistent
          provisions contained in the Lease. Except as amended hereby, the
          Lease is in full force and effect.

     3.   Counterparts. This Amendment may be executed in counterparts, which,
          when taken together shall be one and the same instrument.

     IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of
the day and year first above written.

Stanford Ranch I, LLC,                     Williams-Sonoma, Inc.,
a Delaware limited liability company       a California corporation


By:                                        By:   /s/ J. RICHARD MYER, JR.
    ---------------------------------          ---------------------------------
Its:                                       Its:  July 31, 2001
    ---------------------------------          ---------------------------------
<PAGE>   2


                            FIRST AMENDMENT TO LEASE

     This First Amendment to Lease (this "AMENDMENT") is made and entered into
as of _______________, 2001, by and between Stanford Ranch I, LLC, a Delaware
limited liability company ("LANDLORD") and Williams-Sonoma, Inc., a California
corporation ("TENANT").

     A.   Landlord and Tenant entered into that certain Net Lease Agreement
dated as of January 4, 2001 (the "LEASE"), whereby Tenant leases those certain
premises located at 3750 Atherton Road, Rocklin, California, as more
particularly described in the Lease (the "PREMISES"). Capitalized terms used
herein, but not defined herein, shall have the meanings ascribed to such terms
in the Lease.

     B.   By this Amendment, Landlord and Tenant desire to amend the Lease as
set forth below.

          NOW, THEREFORE, for and in consideration of the mutual agreements
herein contained, the parties hereto hereby amend the Lease and agree as
follows:

     1.   SNDA. Section 33 (Subordination, Attornment) of the Lease is hereby
          amended by the deletion of the last sentence of Paragraph 33(c) and
          the substitution of the following sentence in lieu thereof:

               Notwithstanding the foregoing, in the event that Landlord has
               not delivered a non-disturbance agreement to Tenant from each
               existing Superior Lienor, upon terms and conditions reasonably
               acceptable to Tenant, on or before February 9, 2001, then for a
               period of ten (10) days thereafter, Tenant, as its sole and
               exclusive remedy, may terminate this Lease by providing Landlord
               with written notice of such election.

     2.   Relationship to Lease. This Amendment supercedes any inconsistent
          provisions contained in the Lease. Except as amended hereby, the
          Lease is in full force and effect.

     3.   Counterparts. This Amendment may be executed in counterparts, which,
          when taken together shall be one and the same instrument.

     IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of
the day and year first above written.

Stanford Ranch I, LLC,                     Williams-Sonoma, Inc.,
a Delaware limited liability company       a California corporation


By:    /s/ [Signature Illegible]           By:
    ---------------------------------          ---------------------------------
Its:   President                           Its:
    ---------------------------------          ---------------------------------