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Westfield giving downtown San Francisco mall back to lender
By Ted Andersen and Alex Barreira
San Francisco Business Times
Jun 12, 2023
Westfield San Francisco Centre — the city's biggest shopping center — is headed back to its lender after the mall owners ceased making payments on a $558 million loan, the latest economic and symbolic blow for a downtown struggling to regain its footing after the pandemic.
The 1.2 million-square-foot mall at 865 Market St. near Union Square is owned jointly by the parent company of Westfield Corp., French conglomerate Unibail-Rodamco-Westfield, and Brookfield Properties, which acquired its stake through its acquisition of Forest City.
“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,” the company said in a statement. “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.”
I'm old enough to remember p.net members ranting agaist "the war on drugs". Now it seems like the mood has flipped 180.
So, are you on the side of legalized fentanyl? Allow it to be manufactured domestically and sold cheap over the counter, so that those who deliberately inject themselves with it need not support murderous cartels? At worst these clowns will just die from fentanyl and be out of everyone's way.
richwicks
What you say rings true. But no matter who the criminal is that supplies fentanyl, be it a China/cartel alliance or a China/CIA cooperative, the criminals would be powerless without the end user that buys that poison and deliberately puts it into his veins. Since the fentanyl junkie has no concern for the evil he is financing, I could not care less if he dies from an overdose.
the criminals would be powerless without the end user that buys that poison and deliberately puts it into his veins.
Since the fentanyl junkie has no concern for the evil he is financing, I could not care less if he dies from an overdose.
Eric Holder says
I'm old enough to remember p.net members ranting agaist "the war on drugs". Now it seems like the mood has flipped 180.
"Eric Holder" - The war on drugs is just a war on the CIA's competition. There is no war on drug use or distribution PROVIDED the government is doing it. It's a war on independent drug dealers.
All crazy talk aside (no, I'm not buying the "CIA is selling drugs to toddlers" thing)
the fact that there is active anti-drug enforcement (which there is) does create a significant friction and raises the barrier to entry.
As a result availablity suffers and prices go up, which is the effect we want.
Another week, another business shutting down in San Francisco.
Cinemark is shutting down their San Francisco location, effective immediately. The company cited ‘local business conditions’ as the reason for the closure, and we all know what that means, don’t we?
The city is on its way to becoming a retail desert. People are trying to avoid crime, homeless drug addicts and filth in the streets.
Shelby Steele and his son Eli were filming a documentary in San Francisco based on Steele’s book, White Guilt, when their car window was smashed and all of their camera equipment stolen. There is a Go Fund Me to help recover some of the costs but as of yet, they’ve only raised a small amount compared to how much they need. Here is their full post:
Today June 14 in San Francisco, while shooting their documentary WHITE GUILT, based on Shelby Steele's book of the same name, Eli and Shelby Steele's and fellow Oakland filmmaker Terrell Allen's film equipment was stolen out of a rental car in the middle of the day on Lombard Street.
The entire brazen act was captured on film. The Steeles called 911 but police did not respond to calls. Both 911 calls were hung up on. Eventually, they filed a police report. There is no hope of recovering their equipment.
Ironically the film explores how defunding the police has hurt society. Now, the filmmakers, themselves, have become victims of the very thing the film is about.
At publishing time, state officials in Texas were willing to discuss accepting San Francisco as a new city with the condition that it stop being super gay.
I think the straw ban was the straw that broke the camel's back.
EXCLUSIVE: Abandoned stores, streets overtaken by the homeless and drug-addled, theft so rampant that CANDY is locked away: Welcome to San Francisco's ghost town downtown
San Francisco tourism is down by 16% from pre-pandemic levels, workers have abandoned their offices to work from home and stores are empty
In their place, some 7,000 homeless have descended on downtown areas and tourist traps
Now hotels and stores are closing and the whole future of the Bay City – one of the most popular destinations in the United States – is under a cloud
Gunfire erupted between two vehicles careening through San Francisco’s Fisherman’s Wharf area near Pier 39 on Sunday evening, resulting in injury to six people, including four bystanders at the popular tourist destination, Police Chief William Scott said.
The bystanders injured in what Scott called a “car to car” shooting included a 10-year-old girl who was struck by one of the recklessly driven cars as she walked her bike across the street with a 16-year-old companion, the chief told reporters at the scene. Three others were hit by shards of glass that shattered in the gunfire exchange. None of the bystanders had life-threatening injuries, Scott said. The 16-year-old was struck but not injured. ...
Two people in the cars responsible for the gunshots also were wounded, one with life-threatening injuries, Scott said. They were taken to the hospital, as was the 10-year-old girl.
“Gunshots were fired from both vehicles,” Scott said, and police are looking for a white sedan and its occupants, who fled. The other vehicle was a black SUV that was towed from the scene.
‘We urgently need to discuss Westfield’: Emails shed light on safety problems at downtown S.F. mall
... Weber wrote Feb. 9 that, in addition to the concerns raised by Claire’s, “I’m also hearing now from our center team that there were two incidents yesterday where people were held up by knife point at the center for theft.”
When the official government fails, other gangs step in to take its place. Gangs with more integrity than our current government.
Stores from Safeway to Home Depot have been increasingly locking items behind screens to deter shoplifting in the Bay Area and across the country. Customers and staff in San Francisco stores recently described the security measures as irritating, with it taking several minutes to access basic items like toothbrushes or high-value items such as liquor and power tools.
Walgreens manager Chanh Luu said the group entered the Bernal Heights store at around 8 p.m. and began smashing the shelves in two of the store's aisles, where laundry soap and dental products are locked away behind plastic shields due to rampant shoplifting in the city. The shields were torn away so the thieves could get their hands on the items...
This is all legal in CA. Please stop complaining. That's what people voted for.
Walgreens manager Chanh Luu said the group entered the Bernal Heights store at around 8 p.m. and began smashing the shelves in two of the store's aisles, where laundry soap and dental products are locked away behind plastic shields due to rampant shoplifting in the city. The shields were torn away so the thieves could get their hands on the items...
Granted it takes a little longer to loot, but they are out of there at least 10 minutes before the police arrive.
The public doesn't want this shit,
richwicks says
The public doesn't want this shit,
And yet, somehow, they keep voting for the shit givers.
The public doesn't want this shit, the companies don't want this shit.
Everyone knows that San Francisco is the nation's largest public toilet - requiring the city to employ six-figure 'poop patrol' cleanup team, however a new report from the city Controller's Office really puts things in poo-spective.
For starters, feces were found far more often in commercial sectors, covering "approximately 50% of street segments in Key Commercial Areas and 30% in the Citywide survey," second only to broken glass as can be seen in the 'illegal dumping' section. ...
This is all even more heartbreaking, because San Francisco is one of the most naturally beautiful places on Earth. A city on the edge of the Pacific with the bay around it, and the endless waves of fog rolling above. ...
San Francisco has long been a left-leaning city, but this alone wasn't enough to create a policy environment that would lead to the city's downfall. The tipping point towards full-blown insanity in San Francisco's policy environment can be traced back to Proposition 47, a 2014 ballot measure that reduced penalties for certain nonviolent crimes, including shoplifting.
Proposition 47 changed the law so that stealing items worth less than $950 is now considered a misdemeanor instead of a felony. This means that offenders may receive lower fines, shorter jail sentences, or no jail time at all. Unfortunately, this leniency has led to increased shoplifting, as criminals believe they won't face serious consequences for their actions. In San Francisco, police often don't respond to reports of store robberies and instead, request that the store report the crime online. However, these reports are frequently not followed up on. ...
Proposition 47 essentially legalized small-scale retail crime, paving the way for more serious offenses. The action then shifted to the District Attorney's office for further implementation. ...
Proposition 47 was a clever strategy to attract criminals conducting retail and property crimes to the city and keep those already in the city out of jail. However, more serious criminals were still being locked up pending trial or sentenced to prison terms for serious crimes they had committed. This is where George Soros stepped in with the Open Societies Foundation to change the San Francisco District Attorney.
Soros backed Chesa Boudin, who was elected in 2019. Boudin has an interesting background, as both of his parents were actual terrorists in the Weather Underground Movement. ...
An apt comparison exists between this campaign and vaccination campaigns, in that coordinated propaganda can influence people to support insane measures. ...
It doesn’t take a genius to figure out what would be the results of these policy decisions.
Here is one of the results - defaults of commercial real estate and hotels closing and leaving the city...
In other recent developments, California recently passed another law that criminalizes trying to prevent robbery or shoplifting as a “public safety” measure. Let’s guess what effect this will have on retailers who are dumb enough to still maintain presence in this bastion of wokeness.
National retailers such as Nordstrom, Crate & Barrel and H&M have closed San Francisco stores. Tech companies are putting their offices up for sublease; and the city’s commercial real estate, previously among the most valuable in the world, has started selling at huge discounts.
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