Bayfair Mall To Be Carved Up

Alpha8472
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Bayfair Mall To Be Carved Up

Post by Alpha8472 »

This struggling mall in the crime ridden city of San Leandro, California just had large sections of it sold off to be developed.

The plans are not yet finalized, but they plan on housing, office space for tech companies, and retail on the ground floor.

This mall was the scene of multiple lootings in 2020 when thousands of looters from all over the San Francisco Bay Area descended on this mall.

The neighborhood is not safe and the mall is next to a train station where all sorts of dangerous people come in from San Francisco and other nearby cities.

No one would want to buy a house or condominium here. If the retail stores below get looted and set on fire, the people in the condos and offices upstairs will burn to death. San Leandro has an arson problem. There are probably more arson attacks in this city than anywhere else in California.

The Target at this mall is not included in the deal as Target owns its land and the store. This was formerly a Montgomery Ward store. Target demolished the old store. Macy's, Kohl's, Bed Bath and Beyond, PetSmart, and various other big box chains will all have to close. The Lucky Supermarket is also not included in the deal.

Maybe if the retail is limited, this development might survive. Perhaps they should just open up a coffee shop or fast food place.
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Re: Bayfair Mall To Be Carved Up

Post by storewanderer »

Alpha8472 wrote: June 22nd, 2022, 7:10 pm This struggling mall in the crime ridden city of San Leandro, California just had large sections of it sold off to be developed.

The plans are not yet finalized, but they plan on housing, office space for tech companies, and retail on the ground floor.

This mall was the scene of multiple lootings in 2020 when thousands of looters from all over the San Francisco Bay Area descended on this mall.

The neighborhood is not safe and the mall is next to a train station where all sorts of dangerous people come in from San Francisco and other nearby cities.

No one would want to buy a house or condominium here. If the retail stores below get looted and set on fire, the people in the condos and offices upstairs will burn to death. San Leandro has an arson problem. There are probably more arson attacks in this city than anywhere else in California.

The Target at this mall is not included in the deal as Target owns its land and the store. This was formerly a Montgomery Ward store. Target demolished the old store. Macy's, Kohl's, Bed Bath and Beyond, PetSmart, and various other big box chains will all have to close. The Lucky Supermarket is also not included in the deal.

Maybe if the retail is limited, this development might survive. Perhaps they should just open up a coffee shop or fast food place.
Being right on the BART Line it would seem this should be a prime place for housing and condos. With Lucky and Target already present those stand to benefit greatly from additional housing and condos. That has been a high performing Lucky consistently over the years. Not sure if shrink and other "issues" have hurt performance more recently, but from a sales perspective that has been a good performer for decades even under Albertsons.

Is anyone really going to miss Kohl's or Bed Bath and Beyond? Nope. It isn't that hard to get on BART and find another Macy's. Petsmart doesn't offer much that Target or Lucky already offer and a smaller format pet place could come in for the specialty products.
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Re: Bayfair Mall To Be Carved Up

Post by lake52 »

The Bay Area is going to see a lot of malls bite the dust in the next few years, not even necessarily due to under performance.

Bay Center is close to BART and there are plenty of incentives to build there. There also won’t be as much NIMBY opposition turning commercial into commercial, especially if popular tenants are retained.

Similarly, Tanforan in San Bruno was also bought by Alexandria Properties, a huge developer in the Bay Area. They are planning a similar biotech and housing development, probably retaining Target and the movie theater. This mall is also attached to BART.

Hillsdale was also recently snapped up by a REIT. They are proposing a mixed use redevelopment as well. Like the malls above, Hillsdale is adjacent to reliable transit. Additionally, Hillsdale is across from the very successful Bay Meadows redevelopment.

I would imagine more malls like Serramonte, Stonestown, Oakridge, and Southland are up for similar redevelopment.

I would imagine that beyond Valley Fair, Stanford, Santana Row, and Walnut Creek most malls in the Bay Area are at risk.
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Re: Bayfair Mall To Be Carved Up

Post by Alpha8472 »

Hillsdale is going to be redeveloped? That is a travesty. That mall has a great food court and lots of really good shops. The restaurants at this mall are some of the best. The area is wealthy and there is very little crime.

I cannot believe such as successful mall is going to be dismantled. I am disappointed that Tanforan is going to close. That was a good mall.
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Re: Bayfair Mall To Be Carved Up

Post by ninersdd »

First I thought this was about the sad looking mall in Richmond, but that's Hilltop, not Bayfair.
Last edited by ninersdd on June 23rd, 2022, 11:01 pm, edited 1 time in total.
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Re: Bayfair Mall To Be Carved Up

Post by lake52 »

Alpha8472 wrote: June 22nd, 2022, 8:07 pm Hillsdale is going to be redeveloped? That is a travesty. That mall has a great food court and lots of really good shops. The restaurants at this mall are some of the best. The area is wealthy and there is very little crime.

I cannot believe such as successful mall is going to be dismantled. I am disappointed that Tanforan is going to close. That was a good mall.
Yes, Hillsdale was bought up by a REIT late last year. At the moment they want to rezone parking lots to mixed use but I have a hard time seeing the older portion of the mall surviving if it’s buried behind 6 story condo buildings. They’re planning to keep the new outdoor area with the food court you mention. The value of real estate in that area is astronomical, I can’t imagine the Nordstrom and H&M’s of the world have the money to compete.
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Re: Bayfair Mall To Be Carved Up

Post by Bluelightspecial »

At Hillsdale, I can't see them doing anything with the new development where the old Sears was that was built a couple years ago. It has some great restaurants and food court and a high end theater and Apple store. The exterior of the Macy's was redone and I can't see them closing the Nordstroms. I can see them redeveloping the rest of the mall. The parking lots in front are from the 50's and there is potential to make it mixed use, while keeping the anchors. Unfortunately the old side of the mall looks very dated.
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Re: Bayfair Mall To Be Carved Up

Post by Brian Lutz »

The REITs seem to be snapping up any large properties they can get in the Bay Area, not just malls. It was just announced that Cedar Fair has sold the land that the California's Great America amusement park occupies in Santa Clara (next to and sharing a parking lot with Levi's Stadium) with a short term lease agreement that will see the park shut down by 2033. They bought the ~116 acres of land (previously leased) from the City of Santa Clara for $150 million in 2019 with long term plans for the park but sold it for $310 million, claiming that COVID related losses forced the sale. It seems likely that the land will be repurposed to either high density housing or some corporate campus.

https://www.businesswire.com/news/home/ ... ement-Park
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Re: Bayfair Mall To Be Carved Up

Post by Bluelightspecial »

I think Related Corp has plans for a multi phased project next to Levi Stadium that will eventually include California's Great America.
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Re: Bayfair Mall To Be Carved Up

Post by storewanderer »

Brian Lutz wrote: June 30th, 2022, 11:21 am The REITs seem to be snapping up any large properties they can get in the Bay Area, not just malls. It was just announced that Cedar Fair has sold the land that the California's Great America amusement park occupies in Santa Clara (next to and sharing a parking lot with Levi's Stadium) with a short term lease agreement that will see the park shut down by 2033. They bought the ~116 acres of land (previously leased) from the City of Santa Clara for $150 million in 2019 with long term plans for the park but sold it for $310 million, claiming that COVID related losses forced the sale. It seems likely that the land will be repurposed to either high density housing or some corporate campus.

https://www.businesswire.com/news/home/ ... ement-Park
The Bay Area will crash further unless remote work is largely ended and folks are forced to return to their physical offices in the Bay Area. So many people who worked in the Bay Area before COVID, have left the Bay Area and work remotely now...

Hundreds of smaller companies have already relocated most staff outside the Bay Area as well, seeing the cost savings and better quality of life elsewhere. Elsewhere will eventually mean make most of the workers based overseas. So we need to be careful what we wish for here.

Personally I don't see remote working going away. I don't see people returning to the overpriced Bay Area (though it is less crowded now than it was, so a return may be more appealing on those grounds). I think these REITs are going to lose their shirts. Or the banks will.

Everyone in the bay area- from landlords, fast food franchises, to large grocery chains- seems to price their products and services at levels nobody can reasonably afford as if they are trying to squeeze the last possible cent out of everyone before everyone throws their arms up and leaves due to the unaffordability, high crime, and poor maintenance.
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