San Francisco developers Prado Group and Presidio Bay Ventures are walking away from a pending deal to purchase the shuttered San Francisco Centre Mall, sending the 1.5M SF Market Street property back to the sales market.
“After extensive diligence and thoughtful evaluation, we are not currently moving forward with the transaction,” executives with Presidio Bay and Prado Group said in a statement to the San Francisco Chronicle, which first reported the news Wednesday.
The developers didn’t offer a reason for pulling out of the deal. The property will be relisted, the Chronicle reported, citing anonymous sources. CBRE previously listed the mall for sale.
“We are grateful…