Part 2/10:
In 2016, the mall was valued at approximately $1.22 billion, reflecting its status as a major commercial property in downtown San Francisco. Fast forward to today, and recent appraisals peg its value at a mere $195 million—a decline of over 84%. This drastic decrease underscores the severe decline in retail foot traffic, a trend accelerated by the pandemic, remote work, and the city’s escalating street and homelessness crisis.