San Francisco Centre Closes After Decades of Retail Decline, Leaving Downtown’s Largest Mall Dark and Empty

A landmark at Market and Fifth shuts its doors

San Francisco Centre, the city’s largest downtown shopping mall at Market and Fifth streets, has closed and is no longer operating as a retail destination. The shutdown came ahead of an expected end-of-weekend wind-down, with entrances posted as closed and the interior going dark.

In its final days, the mall’s remaining retail presence had dwindled to a single operating store: shoe retailer Ecco. The closure ends a long contraction that accelerated after the pandemic-era collapse in downtown foot traffic and a cascading departure of national chains and anchor tenants.

Anchor losses and shrinking occupancy set the stage

The mall’s decline became increasingly visible after the exit of its two anchor draws. Nordstrom closed its flagship at the property in 2023. Bloomingdale’s later announced its own departure, with operations ending in 2025 as the retailer consolidated its store fleet and the mall’s tenant mix continued to erode.

As anchor traffic disappeared, smaller retailers and food options followed. By January 2026, the food court and most storefronts were shuttered, leaving the building largely vacant. The closure also underscored a broader challenge for the Powell Street corridor, where remote work, reduced tourism and shifting shopping habits have reshaped demand for traditional mall retail.

Transit access changes as the mall goes offline

One immediate operational impact has been at Powell Street Station: the direct BART entrance linking the station concourse to the mall has been closed. That passage had functioned as a major pedestrian conduit between transit and the shopping complex. BART has indicated that the entrance could potentially be reconsidered in the future depending on how the property is redeveloped and whether new ownership seeks to reestablish access under a new agreement.

Ownership transition and marketing of the property

The shutdown follows financial distress tied to the property’s debt, with lenders taking control after a foreclosure process. As retail operations wound down, leasing was effectively terminated for remaining tenants, and the mall’s closure moved from gradual retreat to an abrupt stop.

The property is now being marketed, with CBRE engaged in the process. Any redevelopment will face practical constraints, including the scale of the complex, its configuration as a mall, and the cost of converting large retail floorplates to other uses.

What happens next: redevelopment scenarios under consideration

While no final plan has been announced, the building’s location and size make it a central candidate for reuse in downtown’s next phase. Ideas publicly floated in recent months have ranged from mixed-use redevelopment to civic or cultural repurposing. The mall’s future will also intersect with broader city efforts to revitalize the downtown core through public safety initiatives, public-space improvements and new types of street-level activity.

• Closed: Retail operations at San Francisco Centre have ended, with interior storefronts no longer open to the public.

• Transit: The direct BART entrance between Powell Street Station and the mall is closed.

• Next steps: The site is being marketed for potential redevelopment; timelines and uses remain undecided.

The closure marks a turning point for downtown’s retail footprint, shifting attention from store tenancy to what a large, centrally located property can become next.