Mall Operator Westfield Abandons San Francisco Center

Shopping mall operator Westfield said it plans to give up control of the San Francisco Center mall after more than 20 years of operation in another sign of San Francisco’s economic struggles, Samantha Delouya reported for CNN.

Photo Insert: Once a bustling retail center in the heart of San Francisco, the San Francisco Center has taken a significant hit in the past few years.

The company attributed its decision to the “challenging operating conditions in downtown San Francisco, which have led to declines in sales, occupancy and foot traffic.”

The mall operator’s decision to surrender its San Francisco space comes after several of the mall’s major stores announced closures, including Nordstrom and Banana Republic. Earlier this month, Park Hotels and Resorts, the investment firm that owns Hilton San Francisco Union Square and Parc 55 hotels, also ceased payments to its lender.

Last month, a Westfield spokesperson attributed Nordstrom’s closing to “unsafe conditions for customers, retailers, and employees.”

Once a bustling retail center in the heart of San Francisco, the San Francisco Center has taken a significant hit in the past few years.

Total sales have fallen from $455 million in 2019 to $298 million in 2022, and foot traffic has plunged from 9.7 million visits in 2019 to 5.6 million in 2022, according to Westfield. Office vacancies in San Francisco have reached a 30-year high.

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