Part 7/10:
This massive valuation drop reflects not only physical deterioration but also a broader collapse in retail demand in downtown San Francisco. Potential buyers are unlikely to see a traditional retail revival in this environment; instead, they may seek to acquire the property at a steep discount, perhaps only for its land value or for redevelopment potential.
What Comes Next?
Investors and city officials face a complex decision: continue to wait and hope for a turnaround, or accept that the mall's best days are behind it. The legal delays, compounded by sanitation crises and homelessness, create substantial hurdles to redevelopment.