You’re walking down Market Street. The wind is whipping off the bay, and you’ve got that specific San Francisco chill in your bones. You remember the old 760 Market St location. It was a chaotic, beautiful mess of discounted designer bags and random kitchen gadgets. But then, things changed.
Honestly, the story of Marshalls Market Street San Francisco isn't just about a store closing. It's about a city in flux. If you try to walk into that specific building today looking for a $20 Ralph Lauren polo, you're going to be disappointed. The store is gone. It’s been gone since January 2021.
Why Marshalls Market Street San Francisco Actually Closed
Most people blame the pandemic. They're not entirely wrong, but it’s more complicated than just "everyone stayed home." Market Street has been a battlefield for retail for a long time.
The 760 Market Street store was massive. We're talking about a multi-level footprint in the Phelan Building. Rent in that part of the Financial District is astronomical. Even for a powerhouse like TJX Companies (the parent of Marshalls and TJ Maxx), the math stopped making sense.
The Retail Exodus
Marshalls wasn't the first to leave, and it certainly wasn't the last. You saw Gap, H&M, and even Nordstrom follow suit in the years after. It feels like a ghost town sometimes. Kinda heartbreaking if you remember the energy that place had in the early 2010s.
When Marshalls filed their WARN notice with the State of California back in 2021, it signaled the end of an era for downtown bargain hunting. They didn't just move; they exited the neighborhood entirely.
The Reality of Shopping Downtown in 2026
If you're looking for that Marshalls fix, you’ve basically got to head out of the immediate downtown core. The closest spots now are over on Geary Blvd or down in the Colma/Daly City area.
Why does this matter? Because the "Market Street retail woes" everyone talks about are still very real. While Mayor Lurie and the SF Downtown Development Corp are pumping millions into the "Vacant to Vibrant" program, it’s mostly focused on small pop-ups. A giant like Marshalls isn't coming back to that space anytime soon.
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What’s Left at 760 Market?
The Phelan Building itself is a historic landmark. It’s got that gorgeous flatiron shape. But the ground floor? It's struggled. The vacancy left by Marshalls was a huge hole to fill.
- Foot traffic: It’s still lower than 2019 levels.
- Security: This was a huge talking point in the Reddit threads when the closure happened. Shoplifting and safety concerns were cited by locals as the "real" reason the store couldn't survive.
- The Ross Competition: Interestingly, Ross Dress for Less took over a massive space nearby later on. It seems some bargain brands are willing to gamble on the area, while others—like Marshalls—decided the risk-to-reward ratio was too skewed.
Is Market Street Making a Comeback?
Sorta. But it’s not going to look like a mall anymore.
The city is trying to pivot. They’re looking at converting office space into "housing pods" and leaning into the "Theater District" vibe. The idea is to make Market Street a destination for experiences rather than just a place to buy cheap socks.
If you're visiting San Francisco in 2026, don't expect a traditional shopping spree on Market. Expect a lot of construction, some cool new coffee shops, and unfortunately, a lot of "For Lease" signs.
What You Should Do Instead
If you need to shop and you're already in the area:
- Check out the Ferry Building: It’s a hike down Market, but the food and local goods are actually authentic.
- Union Square: It’s still the "retail heart," though it’s had its own struggles.
- Target on 4th Street: It’s still standing (mostly) and serves as the de-facto department store for the neighborhood.
The loss of Marshalls Market Street San Francisco was a canary in the coal mine. It told us that the old model of high-volume, low-margin retail couldn't survive the skyrocketing costs and social challenges of Mid-Market.
Actionable Insights for the Savvy Resident
Don't go to 760 Market Street expecting to shop. Save yourself the Muni fare. If you're looking for Marshalls specifically, the Lakeshore Plaza location on Sloat Blvd is your best bet within city limits. It’s cleaner, has actual parking, and you won’t have to dodge the chaos of the Powell Street BART station entrance.
Downtown is changing. It's messy and it's loud. But if you stop looking for the stores that aren't there anymore, you might actually see the new version of the city that's trying to grow in the cracks.
Keep your expectations in check. Market Street isn't dead, but the version of it where you could spend a Saturday afternoon wandering through a massive Marshalls definitely is. Stick to the neighborhood spots or head to the suburbs for your discount treasure hunts.