Posted on 01/21/2025 6:18:10 PM PST by SeekAndFind
The largest remaining tenant in San Francisco's largest mall just called it quits. Bloomingdale's which is owned by Macy's announce it will be closing its doors in March.
The store, which occupies 330,000 square feet in the beleaguered San Francisco Centre, is slated to close at the end of March. Bloomingdale’s is by far the mall’s largest remaining tenant, and it is closing the brand’s second-biggest store after its New York flagship...
Bloomingdale’s, which opened in 2006 in the former Westfield mall, is the second anchor tenant to bail on the 1.5 million-square-foot property at Fifth and Market streets. Nordstrom’s flagship store closed in 2023 after 35 years in business...
The closure of Bloomingdale’s deals another setback to the struggling San Francisco Centre mall, which is about half vacant after an exodus of retailers since the pandemic.
This mall has been on the edge of collapse for a while now. The owners of the mall walked away from it in 2023:
The San Francisco Centre is being managed by a receiver after its previous owners, Westfield and Brookfield Properties, walked away from the property in 2023.
The 800,000-square-foot mall was supposed to be sold in a public auction late last year, but the process has been delayed twice by lenders.
The approved narrative on this is that the decline of the mall, which was caused by a decline in downtown foot traffic connected to the pandemic, was a blow to the city's downtown but one which would eventually heal. But that's not what has happened so far.
A few small stores have been leased in the mall but none of those will come close to making up for the 5-floors of space that Bloomingdale's had leased until 2046. There is supposedly a theater chain interested in taking over a theater that also closed at this location but that deal hasn't been completed yet.
The trend for San Francisco's downtown is still a bad one. Tourism also didn't recover as hoped last year, though people are once again optimistic for 2025. And who knows maybe tourism will recover but will it be enough to help the mall recover? Will it be enough to keep the BART trains from needing to cut services substantially? Or will it take some time to turn this around?
As we've been telling you, San Francisco continues to navigate a difficult recovery downtown. Though crime is down, the tents are pretty much gone and some companies are now requiring employees to come back in person five days a week, the area has yet to bounce back...
George Chen owns China Live in nearby Chinatown. He no longer opens for lunch on weekends, meaning no dim sum, because, again, the perception among many families is that downtown is not safe.
"It's a ghost town. I think people didn't want to come downtown because they are afraid of whatever may happen, and it has a negative energy to it... and so why go downtown?" explained Chen.
It has a lot to do with what people are actually seeing.
For example, the Muni bus stops in the Financial District have been vandalized over and over again. There is no glass. There is graffiti. When people see this, they think this area is sketchy, they don't feel safe. Same problem BART canopies. Many glass panels have been shattered. So, the question right now is what is BART doing about it? What is the SFMTA doing about it?
San Francisco's problems aren't the kind likely to go away quickly. It could take a long time for the downtown to fully recover and this news about Bloomingdale's suggests they may not even have hit bottom yet.
Why support SF?
It would be a good place to house all the Federal employees that are being let go. All you need is add a few bars and some good fencing.
Really?
One suspects that reported crime is down, and that all crime continues to rise (without all those pesky arrests and arrest reports.)
Turn it into a homeless shelter.
RE: Why support SF?
People used to “Leave their hearts in San Francisco” ( as Tony Bennet used to sing ). Now they can’t wait to skeddadle outta there.
I didn’t want to go down there before covid and most certainly don’t now. Any place that has a app for crap on the side walks is not a good place to go. That and you can steal around a grand without being charged just sends up red flags.
Congratulations, Leftists! You killed another one!
> One suspects that reported crime is down … <
Police in a big, Democrat-run city near me will no longer answer “minor” calls if the perpetrator is no longer on the scene.
Someone assaults you on the street, pushes you around a bit, then leaves. All you can do is call it in and get a report number. No cop will show up.
Someone breaks into your business, steals a few things, then leaves. All you can do is call it in and get a report number. No cop will show up.
Etc.
At some point, citizens will stop making that call. Why bother?
The lenders don't want to bid their debt, which wouldn't even cost them new money because they probably don't want to be stuck with the property.
Where are the youths suppose to get free high end school clothes?
Time for newscum to RESIGN!
I went there on the powell st trolley from my hostel in fisherman’s wharf when Nordstroms was still there in the 90s. Had lunch at a cafe right outside. Everything there is gone now.
I used to love Sf in the 80’s and 90’s. Haven’t been back in 5 years. Doubt that I’ll ever go back.
CRIME IS DOWN!!
No, crime isn’t being reported or recorded by the SFPD. Doncha know the number gotta look better or no bonuses or pats on the back....
“It has a lot to do with what people are actually seeing.”
You mean versus what the Enemy Media spoon-feeds the unwashed masses 24/7? *SMIRK*
And why are all the store names also written in Arabic? And what’s with the ‘mom’ in a Burka pushing that stroller?
Any clues as to what’s going down here? ;)
I’ve been there as a broke college kid in the ‘70’s and many times since as a somewhat respectable citizen. Always enjoyed it and its terrific views and terrific foods. Like you, wouldilie, as of 10 years ago, I’m done.
And the woman crossing the center floor area is dressed in Muslim style (dark, head covered, etc.).
I don't think that picture is accurate, or if it is, San Francisco is Muslim.
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