Local

San Francisco Cannery Becomes Victim of Foreclosure

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(AP)

(AP)

SAN FRANCISCO (KCBS) – A San Francisco landmark has fallen victim to foreclosure. The Cannery, located at the western end of the Fisherman’s Wharf commercial area, has been foreclosed on by a lender after it did not sell at a public auction for a minimum bid of $13.8 million.

According to the Chronicle, the Cannery is composed of two three-story buildings in the 2800 block of Leavenworth Street and began to decline after a fire in 2002 at a warehouse next door.

At one time, the Cannery was the largest fruit and vegetable cannery in the world, with the capacity of 200,000 cans per day and 2,500 workers.

The brick buildings reportedly were purchased in 2007 by its current owner, New Jersey firm Vornado Realty Trust.

The property was soon after listed for sale at $23 million, but did not sell.

It was purchased in the 1960’s and refurbished and then thrived for a time, winning architectural awards and housing popular restaurants like Charley Brown’s. But the five-alarm 2002 fire causing water, smoke and exterior damage was a major setback.

(© 2010 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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