Mathew 24:12 And because lawlessness will be increased, the love of many will grow cold.
Important Takeaways:
- Walking away: San Francisco mall owner hands property back to bank as exodus continues
- Shopping center giant Westfield is walking away from its San Francisco Centre mall, becoming the latest major company to leave the California city amid rampant crime problems.
- “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.
- Westfield’s move comes less than a week after Park Hotels & Resorts announced it had handed two prominent hotels back to the bank. The real estate investment trust said it was abandoning the Hilton San Francisco Union Square and Parc 55, saying the city’s streets are unsafe and expressing doubts about the area’s ability to recover.
- Westfield’s decision to give up San Francisco Centre, which was first reported by the San Francisco Chronicle, appears to be due in part to Nordstrom shutting down both its downtown San Francisco locations.
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