Just when you thought the news couldn't get worse for the retail environment in downtown San Francisco, Macy's has delivered a major blow with plans to close its 700K SF flagship in Union Square.
The massive retail outlet at 170 O'Farrell St. is one of 150 underperforming stores Macy's will be closing in the U.S. as it reduces its brand footprint by nearly a third and focuses on luxury brands Bloomingdales and Bluemercury.
The Union Square store, which employs about 500 people, will remain open until a buyer is found for the property. A Macy's representative told San Francisco Supervisor Aaron Peskin that the soonest the store will close is 2025, according to a report in the San Francisco Business Times.
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