By: Steve Ginsberg - San Francisco Business Times

Deal-makers, deal-breakers

- June 22, 2001 - Now in its second generation as the trophy building barons in the city, the Shorenstein Co. continues to wield clout, regionally and nationally, with its portfolio of Class A highrises that includes San Francisco's most prized trophy, The Bank of America Tower.

Patriarch Walter Shorenstein passed the reigns to son Doug seven years ago and there has been noticeable change. Doug seems more intent on building a national brand to compete with Sam Zell, Jerry Speyer and Gerald Hines, and has been more active than his father in broadening the company beyond its San Francisco roots.

Doug operates more quietly than his now-retired father, but is not shy about flexing his muscle in private. He suffers fools lightly and is not bashful about asserting his opinions. When Willie Brown calls and asks for something, Shorenstein will take the opportunity to harp on topics ranging from clean streets, crime and the future of development.

To recast the company, Doug brought in new senior-level management in Glenn Shannon. Under Doug, the company has made gutsy moves in Oakland, building a new highrise. He's also made big ticket moves into markets like Chicago, Miami and New Orleans. In putting its share of the Bank of America building on the sale block in late 2000, Doug was sending a message: No single property or market-even its signature building in its hometown-is sacred to a company that now thinks of itself as a national player. The building was pulled of f the sale block this year when the bid price wasn't right.

But with a portfolio of over 6 million square feet, the Shorensteins remain the largest Class A operators in San Francisco. The name still packs a punch at City Hall and in Democratic Party circles, where Walter spent plenty to gain influence over the years.

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