The Fate of San Francisco's Westfield Mall Hangs in the Balance

The foreclosure auction of the old Westfield Mall in downtown San Francisco has been postponed. After a slew of tenants left the mall in the past several years, including the flagship Nordstrom and American Eagle stores, the owners defaulted on their over $600 million worth of debt and handed the keys over to their lenders. The auction was supposed to happen in mid-November on the courthouse steps on Van Ness Avenue, but it's been postponed to December 17th, presumably to give buyers more time to assess the state of the mall and its future trajectory. Bloomingdale's remains an anchor tenant, and there actually have been several smaller retailers that have signed new leases at the mall, but the future of the mall remains completely up in the air, and there have been some, like, pretty wild plans proposed, including conversion of it to a soccer stadium. I'll keep an eye on the auction. We'll definitely update you when we have more information, so follow me if you want more updates.