With all the headlines about the closure of Nordstrom at Westfield Shopping Center, Whole Foods in Mid-Market, and other stores shuttering, it has become clear that downtown San Francisco’s retail is in distress. Even before the pandemic, the retail sector was in flux — online shopping proliferated, many “big box” stores disappeared, and brick-and-mortar spaces
Increasingly relied on food, fitness, and personal services. In many other cities, the downtown retail stores are similarly experiencing high vacancy rates, while suburban shopping centers are booming. As we transition into the new normal of hybrid work, can urban shopping centers still be viable? What are the potential opportunities for attracting future stores in downtown San Francisco, either in existing buildings or in new development projects? And can city government play a role in helping property owners adapt to these trends and attract new tenants?
- Mike Berne / President, MJB Consulting
- Will O’Daly / Agency & Occupier Services, Avison Young
- Nathan Lundell / Senior Investmnt Manager, Grosvenor
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