Latest news with #UnionSquareAlliance
Axios
15-05-2025
- Business
- Axios
Nintendo expands U.S. footprint with new San Francisco store
Mario and Splatoon fans rejoice: San Francisco is now home to the first official Nintendo store on the West Coast. Why it matters: The Thursday opening — a big win for Union Square amid its post-pandemic recovery — marks the second official Nintendo store in the U.S. The other is New York's Times Square location. Union Square has seen retail vacancy rates steadily increase since 2022. What they're saying:"Nintendo's decision to open its second flagship store here is a powerful vote of confidence in Union Square and downtown's future," said Marisa Rodriguez, CEO of the Union Square Alliance. "It reinforces that San Francisco is not only open for business but open for excitement [and] innovation," she added. Zoom in: Be prepared to feel like you're walking through a video game come to life. There are different zones dedicated to all of Nintendo's biggest franchises, with floor-to-ceiling soft toys, clothing and homewares. There are gameplay stations, including a massive wall-sized screen for battling it out over Mario Kart, and areas to personalize your Switch console or sign in with your Nintendo account for free stickers. My thought bubble: Kids are going to go bonkers, but I'd expect a fair share of adults to also. I even had friends text me to ask about niche items they wanted me to buy for them. The bottom line: While one new store doesn't equate to a full downtown turnaround, it's a much-needed shot in the arm for tourism and foot traffic. If you go: The store is open Monday through Saturday from 10am-8pm at 331 Powell Street and on Sunday from 11am-7pm.
Yahoo
11-05-2025
- Business
- Yahoo
‘The end of an era': Saks Fifth Avenue shutters its iconic San Francisco Union Square location after 45 years
Saks Fifth Avenue joins a string of legacy stores, including Macy's, Bloomingdale's, Old Navy and Nordstrom, in an exodus from Union Square in San Francisco. The store has been a landmark in the area since 1981. But after nearly 45 years, the high-end retailer said it would close its doors on May 10. 'While the closing of Saks marks the end of an era, this was not an unforeseen development considering their recent changes to an appointment-only model, and Neiman Marcus acquisition,' said Will Reisman, a spokesperson for the Union Square Alliance in a statement. Reisman continued in the statement, "We expect the path to downtown revitalization to have its twists and turns — still we are extremely optimistic about the future of Union Square.' Since the pandemic, Saks Fifth Avenue and other retailers in Union Square have struggled with the changes in foot traffic. Last year, the iconic store transitioned to an 'appointment only' model. Presumably, the luxury retailer intended that this change would make the store more sustainable. Additionally, Saks' parent company acquired the Neiman Marcus Group in December 2024. With a Neiman Marcus location essentially across the street from Saks Fifth Avenue, the parent company seemed unwilling to maintain such a large presence in Union Square. 'While we saw meaningful engagement and success through the appointment-only format, we have made this decision as part of our integration process as we focus on long-term growth,' a Saks Global spokesperson said in a statement. With this store closing, the first question is where the employees will go. For some, the answer lies right across the street. The company claims it will offer some employees transfer opportunities to the Neiman Marcus San Francisco location. Since this isn't possible for every employee, others will receive appropriate separation packages. For locals, the rash of store closings is sad. 'I bought my suit at Bloomingdale's only to see a month later that they're gone,' said Grant Johnson of San Francisco to NBC Bay Area. 'I just think these stores are magnificent, I'd like to see them stay, they're kind of fun to shop in.' Saks Fifth Avenue isn't immune to the changes happening in downtown San Francisco. Since 2020, once-bustling retail districts of the city have seen declining foot traffic due to a combination of factors, including increased remote work, reduced tourism, and the perception of crime, according to CBRE. In fact, it said Union Square's foot traffic declined by 45% between pre-pandemic levels and October 2023. "In the first quarter of 2025, the overall vacancy rate in Union Square was up by 70 bps from the last quarter's figure to 22.8%," said commercial real estate services firm Cushman and Wakefield. "Despite the increase of the vacancy rate, tenant touring activities were active in the first quarter, showing strong interest from national and international retailers looking for an opportunity in the San Francisco market." Union Square isn't down for the count just yet. While the old guard of retailers might be moving out, new retailers are moving in. Newer tenants include Banana Republic, IKEA, a flagship Zara location, World Network, and a highly anticipated Nintendo store opening on May 15. It will be the Japanese company's second official store in the U.S. City leaders are pushing for Union Square and other retail locations to thrive. As a part of the city's 'Vacant to Vibrant' program, new pop-up retailers will arrive in Union Square soon. This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
Yahoo
28-01-2025
- Business
- Yahoo
LIST: Union Square newly-opened establishments look to revive downtown SF
SAN FRANCISCO (KRON) — Last week, one of the last major retailers of the San Francisco Centre announced it was leaving the mall. The upcoming closure of Bloomingdale's this spring marks the last anchor tenant to depart the mall. With San Francisco Mayor Daniel Lurie in his first month in office, a priority has been made to revitalize downtown. It's still to be determined if Lurie can get the downtown mall area back to its thriving years in the late 2000s and early 2010s. Amid all the reported closures in the past 18 months, new businesses are also moving into Union Square. KRON4 compiled a list, according to the Union Square Alliance, of businesses that opened in 2024 and are set to open this year (see below). Notable businesses include Ross and Nintendo. LIST: NBA All-Star 2025 events to take place in San Francisco, Oakland JCPenney to shut down lone Peninsula location Business Location Open Year (Dates TBA) Wine Bar (Hotel Stratford) 242 Powell St. 2025 Sunshine Prophecy 370 Sutter St. 2025 Shoe Palace 301 Geary St. 2025 Ross 901 Market St. 2025 (Expansion) Taylor Jay Collection 220 O'Farrell St. 2025 Yadav Dav Diamond & Jewelry 170 Grant Ave. Suite 500 2025 Silk Road Bar 134 Ellis St. 2025 Wessling Contemporary 39 Grant Ave. 2025 Once Upon a Dosa 35 Kearny St. Nov. 2024 Bombay Brasserie 340 Stockton St. Aug. 2024 Cityscape (Hilton Union Square) 333 O'Farrell St. Re-opened Sept. 2024 ABSteak 124 Ellis St. Oct. 2024 Magnin Street Cafe & Bistro 138 Cyril Magnin St. Aug. 2024 Rolex 845 Market St. (SF Centre) 2024 (Expansion) Patek Philippe 259 Post St. Fall 2024 Ross renewed its lease in 2024 and plans to expand its current space. According to the Union Square Alliance, the Ross on Market Street will expand to a 40,000-square-foot building in 2025. Macy's has publicized plans to eventually close down its iconic Union Square location, although no closing date is set yet. Nordstrom inside SF Centre closed in the summer of 2023. With several notable closures hampering downtown San Francisco's growth, Lurie said 'there is a lot of work to do in our city.' 'I am confident San Francisco's best days are ahead,' Lurie said. 'I'm energized every day by businesses of all sizes opening and growing in our city. San Francisco has green shoots everywhere, and we continue to work towards the revitalization of the city.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
