San Francisco’s biggest mall is now 93% empty and its value has slid another 25%, according to a new appraisal.
San Francisco Centre at 865 Market St. was valued at $195 million this month, down 25% from August 2024 and a whopping $1 billion less than its 2016 valuation, according to research firm Morningstar.
Adding to woes, the Morningstar report states that the mall is “in negotiations with the ground lessor over claims of a ground lease default.”…