Retailers, local and big box and just about everybody and nobody could make it work. Even using the global reach of our company, we couldnt make it happen. Nowhere in this country is there a shopping sent we are as many floors as westfield San Francisco center. Not in chicago, not in new york. The retail is why they succeed which is why the body amended the planning code to eliminate the need for a cup for the seventh and eighth floors and above. So we believe this investment is good for San Francisco center and mixed use buildings are inherently complementary with the office use supporting the retail and retail an amenity for the office. And we are going to do a full renovation and that includes improved lighting at the street level and the largest nordstrom in the portfolio and will remain one of the largest in the country. Letters of support including one from nordstrom and they couldnt make it br are supportive of this project. We believe they must continue to be the Retail Destina
And i want to tell you that what were seeing right now is not a cycle change. Its a structural change, and i am sure you are aware and seen the retailers and the retailers are shrinking the footprint and it is not the Large Department stores but even tenants that used to be 5,000 feet are shrinking to 1,000 feet and trying to deal with how to market the goods online and cross market both aspects. It has had a very structural change and quite frankly t vacancy rate at union square is the lowest that i have seen in 25 excuse me t highest in 25 years of business in union square. This there is, as we all know, a lot of vacancies that are happening. Barneys is going to close, forever 21 is closing, Williams Sonoma and the multifloor retailers are going out of business and those are the only ones that can occupy the upper floors. They are just not there. We have been marketing 146 geary for four years and talking to tenants initially to take the entire building because that works the best fo
From 220 post. The likelihood that a Retail Business would want a stand alone third Floor Office Space that is accessible from an alley that provides minimal foot traffic, marginal street visibility and has some Security Issues is in our opinion simply less than minuscule. On the overhead, i want to post one more image which is looking at the alley from grant street and if you see the orange box, that is where the third floor business is. Pretty tough to see. Pretty unvisible. So with all that said, nothing prevents the third floor and the upper floors being turned back into retail if at some future point that becomes viable. Project does not include any physical changes that would preclude that, so i am going to let the project sponsor speak about the actual efforts to lease this building, but before i go, in your packet, you have support letters that collectively include 41 signatures in support of the project including a leter from members of the Street Building at 210 post which in
System was forced to bring in a bus bridge for quite a while this afternoon. Thank you for joining us here on kron. 4 news at 5. Im noelle bellow and im grant lotus. Trains are back running at the orinda station. But for a while earlier, that was not the case. Strong winds have really been causing issues throughout the bay area for most of the day and palo alto, a tree knocked out power for almost 900 customers between embarcadero road murillo road. Crews are out working to safely remove the branches and restore s all day to safely remove those branches and restore electricity. I in like this. Sparks and a big pop deal. Armstrong heard the commotion just before noon thursday. I was just, you know, the cats. The casket super spooked. When jumped back, you know, another one happened in the hot tub like shut down or something. I dont know. Kind of scary. Palo alto utilities reported the outage at 11 40am, impacting hundreds of customers. The utilities citing the cause a tree in armstrongs
5. 30, in the area of south king road and way. Police have been asking people to avoid the area as there were a lot of cars and people that already been out there for the celebrations, were still working to get some more information as police are investigating tonight. Well, as for those celebrations are happening all over the bay area today and in san jose every year thousands of people own san jose to celebrate kron fours jacmel. But joining us live from downtown san jose with more. Hey yet. And thats right. Things are pretty wild throughout the day out, probably count at least aliyah 1000 people here throughout the day cesar chavez things went by pretty smoothly throughout most of the day. But that doesnt mean things ended going off and hits there with as a police saying that they had to detour a section of santa clara street, put that claim to be some sideshows later in the a long before San Jose Police did to at this section of santa clara street claiming sideshows took over the a