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Westfield Mall

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business2 years ago

San Francisco Mayor Proposes Replacing Westfield Mall with Soccer Stadium.

San Francisco Mayor London Breed has proposed tearing down abandoned retail spaces, including the Westfield Mall, and building new structures to reshape the struggling city's downtown area. The city has been hit hard by the pandemic, with empty offices, a cratering commercial real estate market, and an exodus of retailers from its once-bustling downtown area. Breed argued that an overall shift to online shopping post-pandemic has contributed to declining foot traffic in the area. She called on businesses to reinvest in the city's community and "be even more creative" in thinking about ways to use space.

via Yahoo Finance|
#business#pandemic#real-estate
"San Francisco Mayor Considers Transforming Westfield Mall into Soccer Stadium Amid Downtown Crisis"
business2 years ago

"San Francisco Mayor Considers Transforming Westfield Mall into Soccer Stadium Amid Downtown Crisis"

San Francisco Mayor London Breed has suggested that the Westfield mall, which is closing down, could be redeveloped into a soccer stadium or lab space. The city is trying to make it easier to repurpose buildings and make them more appealing for businesses to set up shop by proposing tax incentives and changing zoning laws. However, the property may not be big enough to house a major sports stadium, and the city does not own Westfield and does not control its fate.

via San Francisco Chronicle|
#business#downtown#redevelopment
Nationwide mall closures continue as San Francisco theater shuts down.
business2 years ago

Nationwide mall closures continue as San Francisco theater shuts down.

Cinemark Century San Francisco, located in the Westfield Mall, will close after Thursday's matinee shows due to local business conditions. This is the latest closure in the downtown shopping district, with Westfield also giving up the mall and numerous other businesses closing. Experts say that movie theaters nationwide are struggling compared to pre-COVID numbers due to the rise of streaming services, and the number of screens in the country is down 5% since the pre-pandemic peak. Before the closure of Cinemark, Westfield's occupancy level had dropped to 55%, compared to a national average of 93%.

via KGO-TV|
#business#cinemark#movie-theaters
Westfield Mall in San Francisco Loses Cinemark Theater and Major Tenant
business2 years ago

Westfield Mall in San Francisco Loses Cinemark Theater and Major Tenant

Cinemark has decided to permanently close its Century San Francisco Centre 9 and XD theater in Westfield mall months before the conclusion of its lease term due to declining sales and foot traffic. This comes after Nordstrom's planned closure and Westfield's surrendering of the mall to its lender. The closure of the Cinemark theater adds to the list of Bay Area movie houses that have gone dark, including Landmark’s Embarcadero Center Cinema, CGV San Francisco, and Regal UA Berkeley. The future of the Castro Theatre is also uncertain.

via SF Chronicle Datebook|
#business#cinemark#closures
Major Retailers Close Stores in Downtown San Francisco
business2 years ago

Major Retailers Close Stores in Downtown San Francisco

Nordstrom has announced the closure of both its Downtown San Francisco stores, including the Nordstrom Rack on Market Street and the Nordstrom inside Westfield Mall, citing the changing dynamics of the downtown San Francisco market and the impact on customer foot traffic. The Westfield Mall has stated that the closure underscores the deteriorating situation in downtown San Francisco, with a growing number of retailers and businesses leaving the area due to unsafe conditions for customers, retailers, and employees, coupled with the fact that these significant issues are preventing an economic recovery of the area.

via KGO-TV|
#business#economic-recovery#nordstrom