SAN FRANCISCO—Since its realization in 2016, the $150 million mall named 6×6 has stood empty for four years on 900 Market Street. The Mid-Market neighborhood it resides in falls between Mission and Market Streets.
Developers named the 250,000 square foot grand glass construct 6×6 because of its six floors and closeness to Sixth Street, a troubled area. They hoped the attention-grabbing mall would draw investors from all directions, but the location hindered and discouraged prospects.
Despite its central location and striking structures, Mid-Market has a reputation for serving as a destination for people suffering from mental health or drug issues. Uber and Twitter have locations in the region. Neighboring shopping centers such as Union Square, Nordstrom Rack, and Westfield Shopping Centre struggle to keep business and keep out vacancies.
“Litter, panhandling, open drug use, and a significant homeless population,” in the area have foiled plans with potential clients said Chris Maguire of Cypress Equity, owners of the mall until 2018 via the SF Chroncile. Its 167-space underground parking garage provides the only income to the mall since its completion.
Alexandria Real Estate Equities and TMG Partners now own the property. Kazuko Morgan, Vice Chairman of the property for its overseer Cushman & Wakefield, says at an unknown point plans for food and retail will proceed and that “there’s not much to report right now.”