The real estate market in San Francisco has never been hotter … but real-estate heavyweight Doug Shorenstein says it won’t last forever.
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“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.