Another signature San Francisco mall is up for sale in the Metreon, but in this case, the sale is not being forced by owners surrendering the property to a lender, and the place has a bustling 92% occupancy rate.

The financial implosion of downtown San Francisco’s former Westfield Mall was the poster-child driver of the “doom loop” narrative, with its ever-increasing vacancies, shoplifting and violence, and most significantly, an owner who had to surrender the property to their lender because of the very San Francisco pandemic-era problem that their debt far outweighed the present value of the property.

And today’s very surprising news from the SF Business Times that the Metreon mall is up for sale will probably end up resurrecting more of that “doom loop” talk. But the Metreon appears to be in very solid shape financially, and is highly unlikely to sell for one of those desperate fire-sale prices that we see so much of SF commercial real estate going for these days. This is a rare SF real estate property that just might sell for the asking price, and quite possibly more.

For one thing, as the Business Times points out, the Metreon is currently 91.9% leased, an absolutely unheard-of figure at a time when the adjacent Union Square has a 20.6% vacancy rate. Yes, the Metreon's occupancy is mostly the Target store and an AMC cineplex, but both seem to be doing brisk business by what my eyes can tell. There are also five 40-foot billboards on the Moscone-facing side of the building that are reportedly pulling pre-pandemic levels of revenue, and every year, you have a shit-ton of guaranteed Dreamforce advertising for which a skilled bargainer could easily overcharge.

"Metreon represents a generational opportunity to acquire an iconic urban retail asset with immediate and long term opportunities to add value and to shape the future of downtown San Francisco," listing firm Jones Lang LaSalle (JLL) says in its promotions for the building.

You can confirm the place is up for sale on JLL’s website.

But about the details: There is not a sale price listed in the brochures which the SF Business Times analyzed, but the current owner is Starwood Capital Group, who bought the Metreon in 2012. Interestingly, the City of SF owns the land on which the 312,592-square-foot shopping center sits, though the rental lease runs all the way through 2082.

Those of us who were here when it opened as the “Sony Metreon” in 1999 remember that despite the hype, the mall had a disastrous run. A PlayStation store and a Microsoft store hoped to bring crowds, but there were days when I would walk some floors and not see one other customer shopping. (Remember that Maurice Sendak Where the Wild Things Are exhibit? Nobody went!) The flagship stores closed and the Metreon was sold in 2006, ironically to Westfield, who then sold it to Starwood Capital.

But the Metreon has shown it can reinvent itself. And heck, it doesn’t even have to reinvent itself when it’s got a near-93% occupancy rate. Throw in a couple buzzy restaurants or bars in some of the vacant ground floor space, and the Metreon is a pretty attractive buy. Or at least, it is to any private investment firms willing to shell out eight or nine figures.  

Related: SF’s Former Westfield Mall Being Rebranded as ‘The Emporium Centre San Francisco’ [SFist]

Image: Jason F. via Yelp

Image: Andrew S. via Yelp

If you were planning to go see The Lost City at the Kabuki Theater this week, you may want to seek out showtimes elsewhere. The theater is closed "until further notice."

The AMC Kabuki 8, the cinema that has gone through a couple changes of ownership and brand names in the last couple decades, suddenly closed in the middle of operating hours Tuesday. The reason, as the Chronicle reports, was the failure of a generator that powers the theater's emergency lights, which come on in case of a power outage.

A sign posted outside the theater now says it is "closed until further notice."

A company rep, who for some reason had to speak anonymously to the Chronicle, says, "It’s just one of those things where you know the odds that the actual lights would go out are slim to none, but when you don’t have the emergency lighting available, you don’t want to take that chance."

So, out of an abundance of caution, the theater is closed while the generator is either fixed, replaced, or another solution is found.

Two years ago, the AMC Kabuki had a spate of trouble with fire alarms going off during screenings, and people getting evacuated and handed movie vouchers to come back another time. The reason, the company said at the time, was likely people vaping in the theater and setting off a very sensitive smoke detection system.

It's not clear whether Tuesday's issue with the emergency lights interrupted anyone's movie-watching. The Chronicle only reported that the theater closed "abruptly" in the middle of the day or evening.

Sidebar: There's some notable history with this theater, which before being converted to a movie house in the 1980s was an actual, traditional kabuki theater showing Japanese dramatic productions, and then was used as a music venue. When they were on their Murmur Tour in 1983, REM performed there, and there's a sweaty photo below from backstage.

Update: An SFist commenter who was at the theater Tuesday says, "It absolutely happened mid-movie to ALL screens with hundreds in the audience. We were an hour and ten minutes into 'Everything Everywhere All at Once' when the screen went dark. I don't trust their explanation. When I stepped out thinking 'well, I might as well pee now,' a staff member told me there was a mechanical failure that shut down ALL the screens in every theater. All the other electrics were woking. I don't imagine a failure of a backup generator would stop all the projectors."

So yes, odd!

Related: Why Do So Many Fire Alarms Interrupt Movies at the AMC Kabuki? Vaping.

Photo via Yelp

The shuttered movie theater at 1000 Van Ness will be revived as a new theater early next year from a South Korean cinema company that specializes in "4D" experiences that include synchronized motion seats and live sensory effects like wind and rain.

The 14-screen cinema complex will be the third US outpost for Korea's CJ CGV, as Variety reports, after it opened two others in LA's Koreatown and Orange County's Buena Park.

At least one of the theaters in the multiplex will feature the Korean developed cinema technology known as 4DX, which enhances the on-screen experience with "environmental effects" including fog, lighting, wind, and rain, as well as moving seats synchronized with the on-screen action.

As the Hollywood Reporter explains, another theater will feature the "Cinerama-like ScreenX, a 270-degree, three-screen multi-projection system that uses a proprietary technique to expand select key scenes of feature films to the left- and right-side walls."

The AMC Van Ness 14 closed after 21 years in February, and it had seen better days. In addition to being located on a stretch of city street that has been under constant construction for something like three years — how long does it take to build a bus lane?!? — the theater suffered a spate of bed bugs that was widely reported on in 2017, but had perhaps been going on for six years by that point.

And now, as of early 2020, it shall return as a CJ-CGV multiplex screening big Hollywood blockbusters — and hopefully ones with lots of weather in them, like Twister.

But will they really be squirting patrons with rain? Won't that make the seats... gross?

Japantown's new Sundance Cinemas Kabuki will offer the more discerning moviegoer (i.e.. people who self-consciously laugh out loud during Shakespeare comedies) something, well, more. Curbed SF has the full rundown on the new movie house that's sure to make you feel even that more self-righteous than you already do while braving the choppy waters of independent film. Check it:

Designed by Berkeley-based ELS architects, the renovation of the former AMC Kabuki 8 utilizes post-consumer recycled woods, repurposed metals, locally reclaimed resources, and live bamboo plants. And although they're not LEED accredited, the theater strives to maintain an eco-friendly facility by recycling and composting its waste.

Wow. The place has yet to show its first preview and we're already more annoyed with the audiences there than at the Embarcadero Cinemas. Who knew such a thing was possible?

But on the plus side? "A special over-21 seating area where guests can pair their fine films with fine wines." Getting smashed at le cinéma universel? A special section where teenagers are verboten? To get a buzz, we no longer have to wait until the lights dim to surreptitiously de-tinfoil a brownie and pop it into our mouth? Wonderful! That is exciting news. And we can't wait to see Japantwon become the new it neighborhood. We've always had a soft spot for the area ever since Japantown Bowl closed up shop. Weep, weep.

Also, this could very well be the theater to go to if you don't want to get murdered. Options: it's what America is all about. See you at the movies, kids.


Image credit: Curbed SF

What? Even free movie passes on SFist? It's INSANE!!!

But yes! It's true! Wanna go to a sneak preview of Evan Almighty tonight? 7:30 p.m. at the AMC 1000 (1000 Van Ness, x O'Farrell) -- and we've got passes to give away!

Evan Almighty is the sequel to Jim Carrey's Bruce Almighty (where God (Morgan Freeman) gives Jim Carrey the powers of God), and this time, none other than everyone's favorite Office boss and 40-Year-Old Virgin Steve Carell hears the Lord's word. Namely, God tells Evan to build a raft, before mankind destroys the planet. Wacky fun with animals and a entertainingly-instructive message about environmentalism follows!

Wanna go? Email VIPTickets@alliedadvpub.com and they'll send you back a pass good for you and a friend to tonight's screening (and don't worry, they've assured us that your address will not be added to any mailing lists or anything like that). The movie's at 7:30 tonight, but they can't guarantee seats so you may want to get to the AMC 1000 on the earlier side.

If you want to go, send an email to VIPTickets@alliedadvpub.com and you'll get back a pass for you and a friend! Email ASAP, though, they've only got a limited number of seats to give away.

is about a cursed hotel room that Cusack's character (a skeptical horror novelist) agrees to stay in, despite the warnings from the hotel manager (played by Samuel L. Jackson). It's an adaptation of a Stephen King short story, so 1) it should be scary and 2) how funny that Stephen King thinks John Cusack is his alter ego!

The movie screens tonight at the AMC 1000 at 7:30, but the line'll be long and they can't guarantee you a spot, so you might want to go on the earlier side if you've just gotta get your Cusack fix.

Still from 1408.

We love a good Cinderella story and apparently so do a bunch of people on dates. Year of the Fish, a modern interpretation of a 9th century Chinese folk tale played at the Van Ness AMC 1000 on Friday night and the place was lousy with well-groomed couples holding-hands and making kissy faces at each other.

Unfortunately, there's something about placing this Chinese Cinderella tale in a massage parlor in New York's Chinatown that disturbed us in the same way Pretty Woman did. The "stepsisters" in this case are the gals who gonk logs and offer a little anal invasion for tips.

Yu Xian--Cinderella in this tale -- scrubs the floors. Sure, we wanted things to turn out well for Yu Xian, like we did for Julia Roberts but even though she's not actually giving hand-jobs, there were some pretty troubling moments in this movie that had us scratching our heads.

Some freaky immigrant exploitation, promised violence to tender parts, SFIAAFF stalwart Ken Leung, and some queasiness, after the jump.