Westfield pulling out of downtown San Francisco

[veerigadu]

12 hours ago, MiryalgudaMaruthiRao said:

nice oks 500-600 peditey manchi house and good schools

GA lo sales  tax entha @veerigadu uncle

property tax  entha

Almost Less than 1% percent for property taxes. Iga sales will vary between 3-6%. Depends on where you live in GA

[lollilolli2020]

13 hours ago, tennisluvrredux said:

Woke culture will eat itself, it's a virus that destroys itself. 

San Francisco is just the host for now, once it destroys SF it will move on to the next target

San Francisco
 tag line- Go Woke Go Broke

[phatposts]

I heard from few companies that hold their yearly conferences in SF Downtown that their attendance has gone down despite relaxed entry reqs. I could feel the same. I am not motivated to go to a conference in SF Downtown unless I really need to. 4 years back vella - I hated it. I am assuming things are much worse now. 

Conference vaadi iche sponsor hotels emo 500 takkuva undav. malli same hotel lo shelter gangs untaru. bayataki vaste homeless people, needles etc. 

I sympathize with people living in the city. Next thing will be all yearly conferences moving out from SF into Vegas and further east like Denver, Dallas etc. 

[MiryalgudaMaruthiRao]

42 minutes ago, phatposts said:

I heard from few companies that hold their yearly conferences in SF Downtown that their attendance has gone down despite relaxed entry reqs. I could feel the same. I am not motivated to go to a conference in SF Downtown unless I really need to. 4 years back vella - I hated it. I am assuming things are much worse now. 

Conference vaadi iche sponsor hotels emo 500 takkuva undav. malli same hotel lo shelter gangs untaru. bayataki vaste homeless people, needles etc. 

I sympathize with people living in the city. Next thing will be all yearly conferences moving out from SF into Vegas and further east like Denver, Dallas etc. 

yeah Oracle stopped

Sales Force still going on

[kevinUsa]

17 hours ago, Spartan said:

In another big blow to San Francisco’s downtown, Westfield will be pulling out from operating San Francisco Centre’s largest mall. The company had operated San Francisco Centre for more than two decades, but a steep decline in shoppers and an increase in “challenging operating conditions” heavily impacts sales numbers.

A spokesperson for Westfield wrote Monday, “For more than 20 years, Westfield has proudly and successfully operated San Francisco Centre, investing significantly over that time in the vitality of the property. Given the challenging operating conditions in downtown San Francisco, which have led to declines in sales, occupancy and foot traffic, we have made the difficult decision to begin the process to transfer management of the shopping center to our lender to allow them to appoint a receiver to operate the property going forward.”

Westfield listed troubling performance numbers as reasons for its decision to leave San Francisco. Westfield’s spokesperson wrote:

• “We have seen a significant decrease in total sales at San Francisco Centre from $455 million in 2019 to $298 million in Dec 2022 YTD, a period where Westfield Valley Fair in neighboring San Jose experienced a +66% increase in sales, URW’s California Flagships center’s sales increased by +26% and our overall US Flagship sales have increased by +23%.”
• “Since 2019 foot traffic has decreased to 5.6 million visits (Dec 2022 YTD) from 9.7 million, a 43% drop at a time when our US Flagship portfolio has seen a 98% recovery.”
• “The center’s occupancy level has decreased dramatically to approximately 55% including already announced closures of tenants such as Nordstrom, Banana Republic and others.  Our US Flagship portfolio occupancy averages around 93%.”

Mayor London Breed told KRON4 on Monday that the move was not unexpected.

“This has been something that has been coming for some time. We’ve had numerous conversations with Westfield about the future of this site, and it’s been clear that they did not have a long-term commitment to San Francisco. With new management, we will have an opportunity to pursue a new vision for this space that focuses on what the future of Downtown San Francisco can be,” Mayor Breed wrote.

Breed continued, “Whether that’s attracting new types of business, or educational institutions, or creating a totally different experience, we need to be open to what’s possible. Retail is changing, and we will adapt to diversify and better use spaces in our Downtown area.”

Stores at the mall will remain open and operate under new management, the mayor said.

“The public safety resources we’ve dedicated to the area, including ambassadors and police officers, remain in place. The stores are still a part of our Downtown experience and we will continue to support this area to make it clean, safe, and inviting for everyone,” Breed wrote.

Community ambassadors will continue to be posted on Market Street, between 4th and 5th streets, Hallidie Plaza, and by the Powell Street BART station.

ee penta lo  pissful brothers  ni kuda add cheyali ani korukuntunna 

[veerigadu]

1 hour ago, phatposts said:

I heard from few companies that hold their yearly conferences in SF Downtown that their attendance has gone down despite relaxed entry reqs. I could feel the same. I am not motivated to go to a conference in SF Downtown unless I really need to. 4 years back vella - I hated it. I am assuming things are much worse now. 

Conference vaadi iche sponsor hotels emo 500 takkuva undav. malli same hotel lo shelter gangs untaru. bayataki vaste homeless people, needles etc. 

I sympathize with people living in the city. Next thing will be all yearly conferences moving out from SF into Vegas and further east like Denver, Dallas etc. 

this is what happens when disparities between rich and poor widens. At the end of the day most votes come from masses. Politicians will have to yield to them. Biden and newsom gallakiii votes kavaliii. Antheee

[Spartan]

  as expected....

 

San Francisco mayor proposes tearing down Westfield Mall and other shuttered downtown retailers

office lu...stadium lu......chivariki elections ragane...affordable housing ani real estate business cheskune plan lo undi....DM.

=========================

San Francisco’s mayor Thursday proposed remaking the city’s struggling downtown by tearing down abandoned retail space, including the city’s Westfield mall, and building new structures to reshape the struggling city.

“We can’t completely rely on retail in downtown restricting what happens in downtown anymore,” Mayor London Breed told Bloomberg’s Technology Summit in San Francisco on Thursday.

Breed’s comments come as San Francisco faces empty offices, a cratering commercial real estate market, and an exodus of retailers from its once-bustling downtown area, especially as pandemic work-from-home policies saw many residents leaving for less expensive parts of the country.

San Francisco has also come under fire recently by politicians, business leaders and locals for a perceived uptick in retail thefts, though it’s not clear that crime has grown significantly more serious, according to industry watchers.

Breed argued that an overall shift to online shopping post-pandemic has contributed to declining foot traffic in the area.

“You can convert certain spaces. A Westfield Mall could become something completely different than what it currently is,” she said.

“We can even tear down the whole building and build a whole new soccer stadium. We can create lab space or look at it as another company in some other capacity,” she added.

Earlier this month, Westfield said it planned to surrender its mall, the San Francisco Centre, back to its lender. The mall operator cited the “challenging operating conditions in downtown San Francisco, which have led to declines in sales, occupancy and foot traffic.”

 

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contradicting herself

“Would I like for everyone to come back to the office five days a week? Of course, I would. But is that going to happen? Probably not. So, let’s make some adjustments to do everything we can to reimagine what parts of San Francisco can be,” Breed said.