DSW Closes San Francisco Union Sq. Retailer

Jared Poff, Chief Financial Officer, Designer Brands, in front of the recently closed DSW Union Square retail store in San Francisco, California (LinkedIn / JaredPoff, LoopNet, iStock)

The DSW on Union Square in San Francisco closes its doors after nine years.

A green “closed” sign now adorns the store at 400 Post Street and customers could only pick up orders there, the San Francisco Chronicle reported.
While DSW hasn’t said why the four-story store closed, it’s more than likely the latest fallout from the pandemic.

The company’s parent company, Designer Brands, said in March it could close about 65 stores in the US over the next four years, including 24 in 2021. The stores that are closing have not been identified. An official said the leases would expire shortly.

“As retail traffic is still restricted and consumers continue to choose to shop digitally and forego in-store visits, we are carefully evaluating our existing store infrastructure,” said Jared Poff, Chief Financial Officer of Designer Brands, at the time.

Several retailers closed locations in downtown San Francisco during the pandemic. Including: Gap, H&M, Marshalls and Uniqlo. In addition, Walgreens announced last month it would close five stores for excessive shoplifting. Nordstrom Rack closed its 555 Ninth Street store in October, resulting in 41 layoffs.

Some traders are moving to the area. The jewelry company Brilliant Earth rented offices at 300 Grant Avenue and joined the outdoor clothing retailer Arc’teryx. The Swiss watch manufacturer Omega also recently opened a store on 103 Geary Street.

“We have several leases in the works,” Cushman & Wakefield broker Kazuko Morgan told The Chronicle. “As long as the current climate lasts, we feel very good for 2022.”

An end to the pandemic travel bans can also strengthen local real estate. The JPMorgan Health Care Conference returns to town in January.

[SFC] – Victoria Pruitt

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