San Francisco’s Biggest Mall Could Sell for Nearly 90% Less Than Its Former $1.2 Billion Valuation

The 1.5 million square foot San Francisco Centre is back on the market, with bids due Wednesday.

A decade ago, the downtown property was valued at roughly $1.2 billion. Brokers now expect it to sell for no more than $130 million, nearly a 90% collapse.

The mall is largely vacant, its previous owners walked away from a $558 million loan, and an earlier $130 million sale fell apart in July after the buyers concluded redevelopment would be too complicated.

Source: https://www.wsj.com/real-estate/commercial/the-1-5-million-square-foot-hole-in-the-center-of-san-franciscos-comeback-4609ae40