Posted on 01/29/2024 9:29:04 AM PST by george76
The San Francisco Center, once a thriving mall home to the largest Nordstrom in America, is a shell of its former self after a string of high-profile departures..
Staff and shoppers in the mall, where five more stores closed in January .. crime and falling foot traffic is ruining the palatial building..
The mall lost $1 billion in value last year
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The mall's cavernous, marble-floored atrium is eerily quiet. There's not a single shopper in sight and a litany of abandoned stores lay mostly empty, but for a few leftover cardboard boxes or fading signs which serve as a reminder of the former occupants.
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a few years ago the luxurious complex would have been heaving with shoppers ...
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Businesses have left in droves ... occupancy is at a measly 25 percent ... the homeless have moved in and drug-taking and crime have risen.
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'Five years ago, this place was thriving,' Tara Button .. she and her daughter cut their visit short – with no plans to return again.
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Nordstrom's closure .. once occupied 350,000 feet of the San Francisco Center across five floors – making it the largest Nordstrom in America.
Two months earlier in June, Westfield announced it would give up ownership of the mall, which once bore its name, and turn over the property to its lender. A cutting statement blamed the 'deteriorating situation in downtown San Francisco' and 'unsafe conditions for customers, retailers, and employees'.
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falling foot traffic and rising crime made the departures inevitable.
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San Francisco's dismally high office vacancy rate, which was 35.9 percent in December. That situation is compounded by the departure of several large companies, including accounting giant KPMG
(Excerpt) Read more at dailymail.co.uk ...
Your point is interesting. I don’t personally like the idea of chopping up the state though.
It's sad that it got to this point. I was born and raised in SF, back when it was a Republican city and had many military facilities. Then the Democrats flooded in the 1960's and flipped it Democrat. Back then, not crowded, but clean. No crazy people and few drug addicts. Lots of great shopping areas. Market Street was wonderful. The Emporium on Market Street was really great, what with their window displays that were often animated, especially at Christmas. At the Cable Car turnaround at Market and Powell streets, my dad would help the conductors rotate the cable car around for the return trip up Powell. Yes, no touristy enclosures and lines, and citizens could help turn it around. All that started going downhill in the 1970's.
And here we are today, after a string of mayors and supervisors encouraged drug abuse, crime, and homelessness on the streets. Current mayor is the worst, not having a clue how to fix it.
This thread is about "ghost malls" and SF being undone by their Soros-inspired unlawfullness.
Corporate guidance has a retail outlet and commercial retail withdrawal underway from SF. Which doesn't even rank top 5 in homicides by guns, btw (and yet St. Louis does lol).
Therefore, under the criteria of this thread, you attempted determine who is growing by where the money is pouring into, cross-referenced across your 'list'. And money is pouring into : Indy, the Nash, and St. Louis. You might not like it but they don't belong on your ad hoc 'list'; Nashville is almost 2 years running as the leading metro retail real estate investment by volume.
"Nashville has seen limited growth in retail development over the past few years, with a sluggish pace of groundbreaking in recent quarters. Consequently, only around 1.4 million square feet of retail space is currently being constructed throughout the metro, accounting for approximately 1.1% of the existing stock. Although this figure has slightly increased with the recent commencement of the 290,000 square feet Tanger Outlets project in Antioch, it still aligns with quarterly averages seen before the pandemic and falls short of the over two million square feet that were under construction in 2016."
MatthewsTM Real Estate Investment Services - July 26, 2023
Sounds like one outlet project in the Antioch district is responsible for the "slight increase".
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