SAN FRANCISCO (KRON) -- San Francisco Centre Mall, the former Westfield Mall at 5th and Market that was the long-time home of Nordstroms, has a buyer at last. The city's one-time flagship mall went dark earlier this year after experiencing an exodus of tenants.
The once-thriving mall lost its anchor tenant, Nordstrom, back in 2023. Over the ensuing years, other major tenants left the mall, which was virtually empty of tenants when it closed in late January.
But now there are potential signs of life for the ghost mall. Recently, rumors have swirled that the 1.5 million-square-foot facility was being eyed for some sort of combination data center and AI exposition hall. On Thursday, as first reported by The San Francisco Chronicle, it emerged that a buyer has been found for the vacant mall.
Photo: KRON4
Shoppers walk through the Westfield San Francisco Centre on April 13, 2022. (Photo by Justin Sullivan/Getty Images)
A report Thursday from credit-ratings agency Fitch Ratings confirmed that after a previously selected buyer terminated its proposed acquisition in July, a new buyer has been selected. The property is expected to close in the first quarter of 2027.
The report made no mention of who the buyer was or what sort of use they have in mind for the mall. It is understood that the deal to acquire the mall excludes the separately owned former Bloomingdale's building that adjoins the property.
Reports in the Chronicle and The San Francisco Standard suggest the buyer could be Seven Equity Group, a New York-based real estate developer that specializes in repositioning distressed retail and mixed use properties.
