San Francisco is Home to “America’s Most Robbed” Walgreens
Many San Francisco stores have become targets for crime, but Walgreens has been repeatedly ransacked. Unbridled shoplifting has become so frequent that CNN correspondent Kyung Lah recently witnessed three thefts while filming a televised broadcast at the local Walgreens.
Source: KRON4
With more than a dozen robberies per day, the Richmond neighborhood store is said to have the “highest theft rate” out of all 9,000 Walgreens locations in the U.S.
Padlocks, Chains and Plastic Cases Lined the Aisles of Walgreens
The amount of shoplifting at Walgreens is completely out of control, and very little is being done to stop it.
Source: Axios
The unfortunate reality is that many of the items at Walgreens were once secured behind padlocks, chains and plastic cases. While store managers gave their best effort to reduce the number of thefts, Walgreens corporate demanded they remove the protective measures because of the “negative messaging.”
Other Stores Are Abandoning Their San Francisco Locations Due to High Crime
Many big-name retailers have given up on their San Francisco stores and have begun leaving the city en masse. Nordstrom, Gap, Banana Republic, Anthropologie, Office Depot, H&M, and Marshall’s are just a handful of brands that have closed up shop because of shoplifting and employee safety concerns.
Source: Manteca Bulletin
San Francisco resident Richie Greenberg told CNN reporters that “rampant crime has become a regular part of life.”
San Francisco’s Commercial Real Estate is in Jeopardy
San Francisco’s major rise in illegal activity has not only caused problems for retailers. The city’s crime problem also poses a potential threat to the overall economy.
Source: Justin Sullivan/Getty Images
With more than 2,373 retail stores set to close this year across the country, real estate investors have little incentive to acquire property in less-than-desirable areas such as San Francisco. An onslaught of crime, debt, and dismay has already caused great harm to the market.