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Mid-Market Stumble

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Mid-Market pioneer David Addington's Fair Market Properties, the owner of 1028-56 Market Street filed for bankruptcy last week. “It was easier to borrow money in 2004 than it is to pay it back today,” said Addington, who said he is hoping to hold on to the property after unsuccessfully trying to renegotiate his mortgage. He also owns the Warfield Theater next door- which is apparently for sale- and has long been a booster for improvements on that stretch of Market Street. [via JK Dineen/SF Business Times]