- blaming crime for falling sales and Nordstrom closure

San Francisco's struggling downtown has been dealt another blow as Westfield has stopped making mortgage payments on its massive mall due to crime and tanking sales.

The firm has defaulted on the $558million loan and is handing it back to the lender, which will appoint a receiver. The mall will remain open for now.

The decision was sparked by the decision from Nordstrom, the mall's anchor tenant, to close in August.

Last month, Westfield blamed 'unsafe conditions' and 'lack of enforcement against rampant criminal activity' in large part for Nordstrom's departure.

Poster Comment:

Westfield is owned by Luck Larry Silverstein's business partner at the World Trade Center on 911.