The block of Market Street between Fourth and Fifth will have another vacancy soon, with Adidas announcing that it is closing its only San Francisco store next week — and they're having a liquidation sale.
It's half off almost everything at the Adidas store at 865 Market, with the store now set to close on January 13. As the Chronicle reports, the street-fronting space will soon be the latest in a string of vacancies at the troubled San Francisco Centre mall — formerly the Westfield San Francisco Centre.
This will leave the closest Adidas store to the city at the Livermore Premium Outlets mall.
As you all surely know by now, the San Francisco Centre is still half full, and many smaller stores and the Bloomingdales are still open. However it lost major tenants Nordstrom and Cinemark, representing a huge portion (more than one-third) of the mall's 1.2 million square feet. And in December, the city's only LEGO Store, also at the mall, announced it was closing.
The mall is currently in receivership after former owner Westfield ceded the property to its lender last summer. The court-assigned receiver is SoCal-based Trident Pacific, and they just took over in the fall. Their task will be to stabilize the center, likely through added security and bolstering the tenant roles, in order to get the property sold to a new owner.
The mall was essentially newly constructed, built within the shell of the former Emporium complex, when it opened in 2006, and retail experts say it remains a highly desirable property, despite these recent woes.
And national trends in department-store retail and movie attendance are more to blame for the closures of Nordstrom and the Century 9 theater than anything happening locally.
Still, with Adidas closing, that will leave another vacant storefront on a block where Old Navy's flagship store also closed last year, and across Fifth Street Nordstrom Rack is gone as well.
Photo: Google Street View