San Francisco’s Union Square is known for a lot of things: department stores and high-end boutiques, a massive and ornate Christmas tree and a Cheesecake Factory with an amazing view of the city. It’s now also known for swaths of empty storefronts. Close to a quarter of the neighborhood’s 3.2 million square feet of retail space is available for lease, according to brokerage firm Avison Young. Foot traffic in the area has yet to recover from the pandemic, but vacancy was already creeping up for years as more shopping shifted online and rental rates shot up. We’ll talk about how the iconic retail district is doing, how the pandemic shook up brick and mortar retail and what could happen next.
Guests:
J.K. Dineen, Bay Area real estate reporter, San Francisco Chronicle
Amanda Mull, staff writer, The Atlantic
Marisa Rodriguez, CEO, Union Square Alliance - a business improvement district that provides security, maintenance, marketing, and capital improvements.
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