You might have already read some of the other BP threads where people are desperate to just have a small anchor in the Bay Area.

We have so many malls, strip malls and all and believe me go to any neighborhood poor or rich, white or Hispanic, except for Walmart anchored exceptional ones, the mall and retail business is dying.

Blake,I use Anchor Realty Northeast Phila to manage my 12 properties, I have have also purchased properties through them.

In the 1970's, I built the Skagit Valley Mall with a Sears store and Pay 'N Save as anchor tenants.

It is going to be an anchor around your neck. 

It took me back to 2003 when I first start to  flip Homes in California , And I had Anchor Home Loans out of Santa Monica Ca as a lender and they rollout the red carpet to me and treat me like family and never turn down any deal I set in front of them .

Also are their any anchors nearby or other well known tenants that confirm that the area is worth the investment such as a target, chipotle etc.  

Covid decimated margins in the service industry, and I wouldn't be surprised if a lot of non-anchor retail office space starts hitting the market soon, with lack of demand driving values down.Will they crash like 2008 prices? 

Building is well established and anchored by a women's health & beauty spa and a large regional mortgage office with a healthy mix of long term tenants ranging from Yoga studio to Interior Designers.I currently own 12 residential units but this will be my first commercial investment. 

Any walls removed or added also need to be seen to make sure all hold downs and proper anchors were used.