The tire store that used to be on a block of land in downtown San Francisco has closed its doors, the latest sign that San Francisco’s downtown area has lost its vitality.
The San Francisco Municipal Transportation Agency said Friday that the business, located at 1711 Market Street, was sold to an undisclosed buyer.
It wasn’t immediately clear who was behind the sale.
The agency said the business will reopen later this month.
“The city of San Francisco is not accepting bids for the vacant property on Market Street,” the agency said in a statement.
“All bids for any of the properties located on Market are being submitted to the city.”
Market Street was formerly a parking lot that once housed the Oakland-based Tire Exchange, a chain that sold tires to retail customers across the city.
In 2008, San Francisco became the first U.S. city to require companies to disclose their finances, according to the Associated Press.
But San Francisco officials have struggled with a lack of economic growth and an aging population, and they have been pushing to revive downtown, a historic district that’s home to the International District, San Jose International Airport and the Golden Gate Bridge.
In April, the city of Sacramento announced it was planning to tear down a former downtown parking lot and build a new pedestrian-friendly park.
A new park could replace the historic market, according the San Francisco Examiner.