San Francisco Has Fallen
- Thread starter VicBee
- Start date
After Hilton walking away from one of SFs most prestigious downtown hotel, now Westfield says it will not renew its lease ... this is now becoming a catastrophe. Market street hasn't been in a long time the swanky street it was meant to be in the early 1900s. But now it's similar to skid row in LA...
https://sfstandard.com/business/westfield-gives-up-downtown-san-francisco-mall/
https://sfstandard.com/business/westfield-gives-up-downtown-san-francisco-mall/
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Malls have had plenty of warnings that they're destined to become Bezos's distribution centers (JcPenny, Sears). Why they keep pulling stunts like holding teenagers hostage to bring their parents' wallets into the door is beyond me:
https://apnews.com/article/chaperones-teens-malls-amusement-parks-crime-8d1cee2a4e4321f7c7b3736276ab46e4#:~:text=Requiring an adult chaperone at,adults after 3 p.m. daily.
Adapt or die, just like mom and pop shops had to.
So are you saying petty criminality and lack of police action have nothing to do with this?
I'm saying it's a convenient excuse to shareholders.
To be fair, Westgate is also walking from properties in other states. This is more an overall death of the retail facing than it is a SF thing. Its been coming a long time.
Lol, I had to stop and think why shareholders had anything to do with this... you sure stretch this one long! And the Hilton, it's.... What?
Did you understand what I said, or are you seriously asking why having an explanation for shitty earnings to keep shareholders is necessary?
I get your stretched reasoning for Westfield to close in San Francisco because unable to compete with Amazon (but find it far-fetched) but what about Hilton?!? Is Amazon also to blame for its abandonment by corporate?
Or maybe SF commercial property property values have sunk so low that these giants of their industries prefer to dump their assets and take the hit..
So you didn't get it.
I answered your question that companies w/a storefront who must answer to shareholders will find any excuse to keep shareholders when they've failed to bring customers through the door. Up to and including using a rise in petty crime and theft that magically enough is seldom quantified and contrasted against revenue for said locations.
In fairness to Westfield (can't speak about Hilton), on skimming article, I didn't see them blaming petty crime or theft....just going by the tenor of the thread.