Walking around the area, there are vacancies all over. There are almost as many vacancies as there are clouds of week-old pee smell.
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The most touristy block near Union Square (the silly cable car pickup where people stand in line for an hour to get a not-fun ride over a hill) has 3 vacant storefronts, in the middle of summer. San Francisco, at some point you have to question your whole strategy...!
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I would assume the spots are simply not viable for retail due to costs of the space / what ppl expect to sell there. You'd think they would do whatever they could in terms of price breaks/incentives to not have empty storefronts, though right?
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Not necessarily. If word got out about price breaks existing tenants of surrounding spaces might demand reductions in their in lease or rent to the point that loses then more money than getting a business in the space
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This is an increasingly common phenomenon in big, affluent cities. Saw it a ton in Vancouver BC recently. Google "empty storefronts on broadway" for a lot of discussion.
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It's almost as if people bought most of their crap online these days.
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But it's not *that* bad in smaller cities. It *might* have something to do with people camping on the sidewalks and shitting on the streets.
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It blew my mind seeing the level of closed shops and poverty just in hollywood when i finally made it out to LA
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