The largest shopping mall in the city of San Francisco is the aptly-named San Francisco Centre (the “r” preceding the “e” indicating it is elegant and marvelous). It opened in 1988 and expanded in 2006, and it was connected directly to the BART station (which is our local subway system). For years, the place was jam-packed and one of the most successful malls to ever exist.
In the pre-Covid era, when people actually used malls as a form of recreation and time-killing, the place was always buzzing, particularly on weekends and around holidays.
This notice just dropped into my inbox.
I daresay that even at $195 million, they wouldn’t find any takers, in spite of the 80% plunge in value. Gone are the days of hustle and bustle, replaced instead by post-apocalyptic images like these:
I haven’t been in the place in literally decades, but I went to their website (which understandably goes on and on about what a fabulous, exciting place it is) and I checked out their store directory for the 30 places still willing to pay any rent at all.
So………you could go visit an Amazon Locker. Or perhaps swing by the Currency Exchange. Sounds like a full afternoon to me.
Keep in mind, this is during ostensibly prosperous times. How many millions of square feet of retail space do you think are going to permanently shutter over the next couple of years, eh?
