On Sunday, Nordstrom reportedly ended a 35-year run at its five-story department store in San Francisco by closing the doors amid a retail exodus from the city.
Shopping center operator Westfield announced it would relinquish ownership of its San Francisco mall after Nordstrom announced its closure, citing difficult operating conditions in downtown San Francisco.
The San Francisco Centre, formerly a thriving city center shopping district, has suffered greatly in recent years.
According to Westfield, total sales decreased from $455 million in 2019 to $298 million in 2022, while foot traffic decreased from 9.7 million visits in 2019 to 5.6 million in 2022.
Westfield’s departure represents yet another major blow for San Francisco, whose economy was severely impacted by the pandemic as many Silicon Valley businesses permitted flexible work-from-home practices, which led to a substantial exodus of white-collar professionals from the city.
Corporate America hasn’t resurfaced in the same numbers three years later: In San Francisco, the number of open offices has risen to a 30-year high.
Since 2020, around 39 retail establishments have closed their doors in the Union Square neighborhood of San Francisco, according to a count by the market research company Coresight.