The beleaguered San Francisco Centre, a once-grand shopping center that hosted 200 retail stores prior to the pandemic but is only now 9% occupied, is now pushing to remove its remaining tenants.
The San Francisco Business Times reports two stores still at the site, Ecco Shoes and Samsonite, received eviction letters from the lawyers representing the mall’s new owner, DBJPM 2016-SFC Emporium LLC. The letters said their leases were being terminated following a change in ownership.
The 1.5 million-square-foot mall was foreclosed on last week, selling for $134 million – 10 years earlier, the property was valued at $1.2 billion. Its previous owners, Westfield and Brookfield, withdrew from the property after they stopped paying their mortgage.
Over the past two years, anchor tenants Nordstrom and Bloomingdale’s left the mall, along with nearly all its dining establishments. The few remaining tenants include H&M, Shake Shack and Panda Express – none of these outlets commented on how long they planned to remain.
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