Posted on 05/08/2023 7:34:19 PM PDT by Robwin
T-Mobile joined a growing list of companies that have moved out of San Francisco’s downtown area in recent months.
T-Mobile’s two-story flagship location in San Francisco’s Union Square neighborhood was permanently shuttered, with a note now directing customers to instead visit two other locations in the city, according to the San Francisco Business Times.
The building broke price records for the area back when it was sold in 2013 at $50 million, according to the outlet, but now the building joins other properties sitting vacant in the city. The 17,000-square-foot space was previously occupied for decades by an Apple flagship location until it moved to a large location in 2016.
T-Mobile told Fox News Digital when asked about the closure that the company "recently reshaped our nationwide retail strategy to better take care of customers."
(Excerpt) Read more at foxbusiness.com ...
Pussies. The reason is right in everyones face and these jackwagons have to lie about why they’re pulling out
It’s supposed to be this way.
It’s no mystery.
People start electing Democrats.
The the city falls to pieces.
Then vote for more Democrats who will do the same.
Detroit, St. Louis, Memphis, Birmingham, etc.
The people who live there like this, it’s what they want.
Stores leaving San Francisco....Looks so lonely and empty now.
tumbleweeds welcome....
https://www.youtube.com/watch?v=4tiPOMd14eQ
Great song....
https://www.youtube.com/watch?v=fWR6FLnPack
Congratulations, lefties. You have destroyed one of the world’s great cities.
But just think of all the revenue SF is garnering from its “vacancy tax”?
Yep, a per foot tax that increases in rate every year the property owner is unable to rent/lease it. This is separate from property taxes.
The city thinks this will encourage the property owners to find someone stupid enough to rent the buildings in an area guaranteed to lose money.
“Escape from SF...”
Rush hour was really bad this afternoon. I was discharged from the hospital today a week after cancer surgery. it took forever to get on the bridge and back to the East Bay. The new exit to Treasure Island opened today.
When a neighborhood goes down hill there are a few types of businesses that pop up. One is a phone store, the others are tattoo parlors, pawn shop and payday advance stores.
For a phone store to close things are really bad.
I owned a rental property in SF. I saw how mentally ill the meth addicts were becoming. I sold in 2006, at or around the peak of the property market. I paid outrageous California and federal capital gains taxes, but it was well worth it to go out of the rent controlled apartment business. Two of my 7 units were paying 1/3 of market rent, another was paying half the market rent, and 2 were paying about 3/4’s of market rent. They’d never leave, simply because they couldn’t afford to live anywhere else, at least in SF.
Kinda brings a smile to my face to think of those leftists, revelling in their rent controlled apartments, “sticking it to the man.”
“But just think of all the revenue SF is garnering from its “vacancy tax”?
Yep, a per foot tax that increases in rate every year the property owner is unable to rent/lease it. This is separate from property taxes”
In unrelated news..San Francisco “authorities” are perplexed by the drastic increase in commercial property bankruptcies and incidents of building fires.
If the San Fran 1906 earthquake hit today, it would be wonderful. No great loss...
“You have destroyed one of the world’s great cities.”
Related: Got new neighbors last week. They moved from San Jose. Said it’s no longer a good place to raise a family.
I was just trying to figure out if this store fell into one of the many “neighborhood districts” that SF is penalizing. I couldn’t tell precisely thru Google maps or the PDF download (from the city) if it’s in the actual districts (districts are named, but included streets aren’t). From the sound of the location, the visual on the Google map (Union Square), and it’s proximity to other major locations (Chinatown, the Tenderloin, the Bay)...I’m thinking T-Mobile’s vacant office is dead in a penalty district and will pay, pay, pay.
Taking into account the rising cost of money, when the fire insurance pay-out exceeds the value of retention you will see the left coast version of
The Bronx Is Burning
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