The real estate market in San Francisco has never been hotter … but real-estate heavyweight Doug Shorenstein says it won’t last forever.
“In our business, everything is cyclical,” said Shorenstein in an interview with FBN’s Deirdre Bolton. Shorenstein is CEO of Shorenstein Properties, the company that turned a furniture wholesale mart into Twitter’s headquarters in San Francisco’s SoMa neighborhood.
Given that Shorenstein Properties’ business is 90% commercial – and a lot of the tenants in San Francisco, New York City and even cities like Austin are tech companies – Shorenstein would undoubtedly be affected if a tech bubble did indeed burst.
“We’ve been through many cycles and every cycle you protect yourself the same way,” said Shorenstein, citing longer-term leases as one strategy.
For more on Shorenstein’s third-generation real estate business and what the hottest tech companies are looking for, watch the full interview above.