The struggling San Francisco Centre mall just lost its last remaining anchor tenant.
Bloomingdale’s, owned by Macy’s Inc., announced that it will close its flagship location on Market Street in April.
The department store occupies five floors in the mall, which has had mass vacancies since the pandemic.
According to data on commercial mortgage-backed security loans, Bloomingdale’s had a lease that was supposed to run until 2046. It is not immediately clear if or how the retailer will exit that lease.
Employees of the downtown San Francisco store were notified of the closure before the mall opened Tuesday, according to one worker who was not authorized to speak to the media and asked to remain anonymous.
The employee said the news was met with gasps and tears.
Still, the worker said, “it’s something I saw coming,” adding that Louis Vuitton and other designer brands had been leaving the store.
The San Francisco Centre is being managed by a receiver after its previous owners, Unibail Rodamco Westfield and Brookfield Properties, walked away from the property in 2023.
The 800,000-square-foot mall was supposed to be sold in a public auction late last year, but the process has been delayed twice by lenders.
Macy’s, which has seen declining sales, is in the process of closing 150 stores by the end of 2026. The company’s flagship San Francisco location in Union Square was not included on the closure list but is being marketed for sale.
“We don’t take this news lightly, but I am confident San Francisco’s best days are ahead,” Mayor Daniel Lurie said in a statement. “There are massive changes happening across the country in retail, and we know there’s a lot of work to do in our city.”
The Bloomingdale’s closure was first reported by the San Francisco Chronicle.
“This vibrant city has been home to the brand for nearly two incredible decades,” a Bloomingdale’s spokesperson said. “While we are committed to this decision … we are hopeful to be back to serve the San Francisco community in the future and look forward to introducing new ways to provide enhanced service to our loyal local shoppers.”