New York CNN —Nordstrom closed the doors of its five-story department store in San Francisco on Sunday, ending a 35-year run as the city suffers a retail exodus.
After Nordstrom announced it was closing, shopping mall operator Westfield said it would give up control of its San Francisco mall, citing “challenging operating conditions in downtown San Francisco, which have led to declines in sales, occupancy and foot traffic.”Once a bustling retail center in the heart of the city, the San Francisco Centre has taken a significant hit in the past few years.
Three years later, corporate America has yet to return in the same numbers: Office vacancies in San Francisco have reached a 30-year high.
In total, more than 39 retail stores have shuttered in San Francisco’s Union Square area since 2020, according to a tally from Coresight, a market research firm.
City leaders are hopeful that the home furniture store will draw shoppers to downtown San Francisco and support other businesses in the area at a time of store closures and rising public safety concerns.
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