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2h ago

H&M to Exit San Francisco Centre as New Owner Orders Tenants to Vacate

A lender-backed owner that took control in a November foreclosure is clearing the downtown mall ahead of potential sale or redevelopment.

Shoppers walk out with their few purchases at the San Francisco Centre Mall in August. The mall’s new owners are reportedly telling tenants their leases are being terminated.
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Overview

  • H&M confirmed it received a notice to vacate and will close its San Francisco Centre stores in January, saying it will try to place employees at nearby locations.
  • A Nov. 25 state filing shows Shake Shack will permanently close its mall site on Dec. 14, affecting 26 employees, with transfer offers extended to the team.
  • Tenants have been told by the property manager’s legal counsel that leases were extinguished under the ownership change and that they must vacate.
  • The new owner is listed as DBJPM 2016-SFC Emporium, which assumed control following a mid-November foreclosure auction that ended the prior operators’ tenure.
  • CBRE is marketing the largely empty 1.4–1.5 million-square-foot property for redevelopment, though experts caution that conversion costs could be prohibitive.