Decline of SF Centre Mall: Bloomingdale’s Closure and Impact on Retail
The recent closure of Bloomingdale’s at SF Centre has compounded the challenges facing the beleaguered mall on Market Street, San Francisco. This shuttering marks the loss of yet another anchor tenant, signaling deeper troubles for the once-thriving retail space.
Mall Retailers on the Brink
In a troubling trend for the SF Centre, multiple retailers are either preparing to close or have recently shut their doors. Coming up next on the closure list are Coach and Kate Spade, which will cease operations on April 11. This follows a string of recent closures that include high-end brands such as Rolex, Bucherer, Panerai, and IWC Schaffhausen, as well as technology retailer Razer.
According to a sales associate from Razer, the decline in customer traffic has become untenable, stating, “Bloomingdale’s was the last straw,” after noting that foot traffic had dwindled to just seven to ten customers a day.
The Changing Landscape of SF Centre
The downward trend for the SF Centre began with the departures of key tenants like Nordstrom and Century Cinema about two years ago. The situation worsened when Westfield Corporation, the property’s former owner, relinquished its loan late in 2023.
Gregg Williams from Trident Pacific Real Estate Group now oversees the mall as a court-appointed receiver. Although there were initial discussions about reinventing the space—some suggestions included an urban soccer stadium and a Legoland complex—the future of the property remains uncertain, dependent on the outcome of an auction that has already faced multiple delays. Originally set for November, the latest auction date is now pushed to June 17.
The Broader Retail Crisis
The SF Centre is not alone in its struggles, as nationwide retail trends indicate a broader shift away from traditional brick-and-mortar stores. Many major retailers are grappling with reduced foot traffic as a growing number of consumers prefer online shopping. For instance, Macy’s has announced plans to exit downtown San Francisco entirely, underpinning the seismic shifts within the retail sector.
In a stark reminder of these trends, Kohl’s recently closed five stores in the Bay Area, contributing to a total of 27 closures across the country.
Impact on Local Offerings
As top-tier retailers continue to exit, the potential for revitalization appears dim. The once-popular food court could soon become the main attraction, highlighting a specific concern for the newly opened Pakistani Restaurant—a food stall that has already garnered positive reviews yet may struggle to survive in a dwindling retail environment.
As the retail landscape continues to evolve, the fate of SF Centre and its remaining tenants hangs in the balance. Stakeholders and local residents alike will be watching closely to see how the auction and future developments unfold.
