The rise of flexible work schedules prompted dozens of downtown retailers to decamp, including Nordstrom, AT&T, Banana Republic, Saks Off 5th and others. The city's office vacancy rate hit a record high 34% in the third quarter.
One bright spot: Home goods giant IKEA moved into San Francisco's Mid-Market neighborhood in August, drawing 120,000 visitors in its first month and sparking hopes that its cheap furniture and meatballs would invigorate the downtown.
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