Even though San Francisco is listed as one of the winners of the U.S. retail vacancies statistics, it sure does not feel that way. As I walk through the San Francisco, from neighborhood to neighborhood, I see many retail vacancies, empty storefronts. This is true all over the City, even in Downtown and Chinatown, which are frequented by lots of local residents and tourists. For more information about the latest statistics about commercial rates around the country, see http://onstreetlevel.com/2011/06/14/san-francisco-big-winner-in-commercial-vacancy-rates/
As a long-time resident, retail vacancies touch me more than the other types of real estate vacancies. Since I am not in the industry, the real estate vacancies rates is just a number, but as I walk by the empty storefronts that used to be full of life, I cannot help but recall that there used to life in the store. I remember interacting with the owners, the sales people, the cashier, and waiters of these places. Walking past these places, all of them empty, many of them boarded up brings back memories, and a lot of sadness.
All over the city, there long blocks with empty storefronts, there are significant retail vacancies on Van Ness Avenue, on Mission Street (between downtown and the Mission District), on Columbus Avenue (between Washington Square and Fisherman’s Wharf), and now even on the borders of Chinatown. The vacancy rate in Chinatown that I saw was 1.4%, but it is feels much higher now. Some of these storefronts in Chinatown have been covered up by art in the windows, but it does not beat the smile that used to greet me when you walk into the store.
I am particularly sad when I pass by an empty shop where I used to go often. This is particularly true of those vacancies that are closest to my home because I am used to passing them every day. It gives me the feeling that time is passing. There used to be a jewelry store at the corner of Stockton and Washington Streets. It was there for 38 years, and is empty now. The store moved to Stonestown. The grocery store that I used go as a child is empty but recently have turned into an artist studio. I think about the man that used to own the grocery store for a couple of decades. How is he doing? Is he still alive? I used to see him every day. Certainly, there will be change as the years pass, but the empty storefronts only seem to hasten the change.